Markets

US stocks slide as dismal unemployment data offsets new economic stimulus

US stocks sank Thursday as another round of dismal weekly jobless-claims data offset new economic stimulus efforts in Europe. US jobless claims for the week that ended on Saturday totaled 1.9 million, the Labour Department said Thursday. That exceeded the median economist estimate. Continuing claims, which represent the aggregate total […]
US stocks slide as dismal unemployment data offsets new economic stimulus
Markets

US stocks climb as investors look past civil unrest to the economy reopening

US stocks rose Tuesday as investors looked past nationwide civil unrest to encouraging signs of an economic reopening. Equity futures slipped initially in overnight trading after President Donald Trump said he would deploy the military if states didn’t act to quell violence from protests. Those losses were erased by the […]
US stocks climb as investors look past civil unrest to the economy reopening
Strategy

Groupon’s CEO and COO just stepped down, joining a slew of executive departures in 2020, including Bill Gates, who is leaving the boards of Microsoft and Berkshire Hathaway

On March 25, 2020, both the CEO and COO of Groupon Inc. stepped down effective immediately. On March 20, 2020, the CEO of tobacco company Altria, Howard Willard, revealed that he had tested positive for the coronavirus, and will be taking a medical leave of absence until further notice. On […]
Groupon’s CEO and COO just stepped down, joining a slew of executive departures in 2020, including Bill Gates, who is leaving the boards of Microsoft and Berkshire Hathaway
Markets

Microsoft shares hit an all-time high after company crushes earnings forecasts

Microsoft shares hit an all-time high Thursday morning. Analysts across Wall Street have raised their price targets for the company’s stock after Microsoft’s earnings announcement yesterday beat analyst expectations. Read more on Business Insider. Microsoft shares hit their highest price on record at the opening bell, after the company’s earnings […]
Microsoft shares hit an all-time high after company crushes earnings forecasts
Tech

Snap CEO Evan Spiegel sold $50 million of company stock

Snap CEO Evan Spiegel sold $US50 million of Snap stock on Monday. The SEC filing for the the transaction carried a note that Spiegel followed a trading plan designed to allow sellers to avoid accusations of insider trading. Snap had a comeback in 2019 following a harrowing 2018. Visit Business […]
Snap CEO Evan Spiegel sold $50 million of company stock
Tech

Uber’s co-founder and former CEO Travis Kalanick sold off close to $166 million shares over the past three days, continuing to offload his stake in the ride-sharing giant

Uber’s co-founder and former CEO Travis Kalanick continues to cash out his stake in the ride-hailing company, selling off close to $US166 million worth of shares this week. The ousted chief executive has sold off a little more than $US2 billion worth of Uber stock since the company’s post-IPO lockup […]
Uber’s co-founder and former CEO Travis Kalanick sold off close to $166 million shares over the past three days, continuing to offload his stake in the ride-sharing giant
Tech

GameStop’s new CEO and CFO reveal their plan to repair the company’s decimated stock price after a brutal year in which hundreds of millions of dollars in value were wiped out

With over 5,700 stores around the world, GameStop is the largest video game retailer by far. But in 2019, GameStop’s stock price has taken a major hit – from around $US16 in January to around $US4 by August. Amidst a falling stock price, GameStop’s executive team got a major shakeup: […]
GameStop’s new CEO and CFO reveal their plan to repair the company’s decimated stock price after a brutal year in which hundreds of millions of dollars in value were wiped out
Tech

A group of major US companies just took out a full-page NYT ad pushing Apple, Amazon, and Walmart to ‘get to work’ prioritising social responsibility over profits

Apple,Walmart, and dozens of other major US-based companies are part of a lobbying group which recently announced a major shift in their stated goals for businesses: to “benefit of all stakeholders – customers, employees, suppliers, communities and shareholders,” rather than focusing solely on creating shareholder value. A separate group of […]
A group of major US companies just took out a full-page NYT ad pushing Apple, Amazon, and Walmart to ‘get to work’ prioritising social responsibility over profits
Markets

Wynn slumps as high rollers stay away in Macau

Wynn Resorts shares slumped 5% after missing on revenue and giving weak guidance. The casino operator cited weakness in VIP gaming, and specifically baccarat. Watch Wynn Resorts trade live. Wynn Resorts was hit by a sharp slowdown in its VIP segment, with overall table turnover (money in play) plunging 18% […]
Wynn slumps as high rollers stay away in Macau
Markets

Nvidia is sliding after Trump escalates the trade war with China

Nvidia was trading down 2.5% on Friday, after the US raised tariffs on $US200 billion worth of Chinese goods to 25% from 10%. The semiconductor industry is particularly sensitive to the effects of increased tariffs. Watch Nvidia trade live. An escalation in the trade war between the US on China […]
Nvidia is sliding after Trump escalates the trade war with China
Markets

Google set to lose more than $70 billion off its market cap after ‘nasty combination’ of slowing ad traffic and drop in sales per click

Alphabet’s stock slid by almost 8% in pre-market trading, slashing the market cap of Google’s parent company by about $US70 billion to $US831 billion. Alphabet reported a 17% rise in first-quarter revenue, its slowest sales growth in three years. Earnings per share of $US11.90 bested consensus forecasts, excluding a €1.5 […]
Google set to lose more than $70 billion off its market cap after ‘nasty combination’ of slowing ad traffic and drop in sales per click
Markets

Wells Fargo earnings top estimates

Wells Fargo beat earnings expectations for the first quarter. Shares were little changed ahead of Friday’s opening bell. The embattled lender is expected to give an update on its CEO search later today. Watch Wells Fargo trade live. Wells Fargo announced first-quarter results on Friday morning that topped Wall Street’s […]
Wells Fargo earnings top estimates
Markets

Walgreens sinks after cutting forecast amid drug-pricing criticism

Walgreens missed second-quarter earnings by 22%, sending the stock down more 8% in pre-market trading. The company also slashed 2019 fiscal year guidance citing “consumer market challenges” as politicians focus on increasingly high drug costs. Watch Walgreens trade live. Walgreens slashed guidance for the year as it contends with an […]
Walgreens sinks after cutting forecast amid drug-pricing criticism
Markets

Dick’s Sporting Goods falls sharply after giving a weak outlook for 2019

Dick’s Sporting Goods fell nearly 7% early Tuesday after giving a weak 2019 sales outlook. The report signalled continued weakness in the sector, with rival Modell’s Sporting Goods announcing the hiring of a restructuring adviser. Watch Dick’s Sporting Goods trade live. Dick’s Sporting Goods narrowly beat consensus estimates for fourth-quarter […]
Dick’s Sporting Goods falls sharply after giving a weak outlook for 2019
Markets

GE pops after laying out the details of its new CEO’s contract

General Electric shares rallied Friday after the company announced new CEO Larry Culp’s compensation package. If Culp is able to boost GE’s stock price by 50% to 150% within four years, he would make up to $US300 million, according to CNBC. Watch GE trade here in real time. General Electric […]
GE pops after laying out the details of its new CEO’s contract
Markets

JD.com keeps sliding on reports its CEO could face a first-degree felony

JD.comCEO Liu Qiangdong could face a first-degree felony over a sexual-misconduct allegation, according to the Associated Press and South China Morning Post. Liu returned to China and appeared at an event in Beijing on Tuesday after being detained in Minneapolis, Minnesota on sexual-misconduct allegations over the weekend. JD.com shares trade […]
JD.com keeps sliding on reports its CEO could face a first-degree felony
Markets

Netflix sinks to its lowest level in more than 3 months

Netflix plunged as much as 4.89% Wednesday, hitting its lowest level in more than 3 months. Shares have been under pressure since the streaming giant reported disappointing second-quarter results. Netflix “is in a vicious spiral to the bottom in content spend,” long-standing Netflix bear Michael Pachter recently told Business Insider. […]
Netflix sinks to its lowest level in more than 3 months
Tech

Sonos will attempt to avoid the same fate suffered by fellow hardware companies FitBit and GoPro, whose share prices have dropped 80% since they went public

Sonos’ IPO last week showed a promising forecast for the home audio system company, with shares eventually level ling out to about $US19. The company is now valued at $US1.5 billion, but investors are concerned about Sonos’ long-term endurance as it gravitates toward producing products with longer shelf lives, which […]
Sonos will attempt to avoid the same fate suffered by fellow hardware companies FitBit and GoPro, whose share prices have dropped 80% since they went public
Tech

A popular website that reportedly sells inexpensive products so poorly made that disappointed shoppers often throw them in the trash is now worth more than $20 billion

On Thursday, Chinese e-commerce site Pinduoduo raised $US1.6 billion in its initial public offering. The site, which features remarkably low-priced products, has become popular with Chinese users. However, The New York Times recently discovered that numerous products listed on Pinduoduo’s website were of poor quality. In three short years, e-commerce […]
A popular website that reportedly sells inexpensive products so poorly made that disappointed shoppers often throw them in the trash is now worth more than $20 billion
Tech

The world’s largest producer of bitcoin mining chips, which is run by a 32-year-old billionaire, is reportedly considering an IPO

The world’s largest producer of bitcoin mining chips, Bitmain Technologies, might be considering going public. Bitmain’s founder, the cryptocurrency billionaire Jihan Wu, told Bloomberg that Bitmain was considering an initial public offering as it expands into producing hardware for artificial-intelligence computing. Bitmain Technologies, the world’s largest producer of bitcoin mining […]
The world’s largest producer of bitcoin mining chips, which is run by a 32-year-old billionaire, is reportedly considering an IPO
Markets

6 things Australian traders will be talking about this morning

US stocks rebounded as investors shook off a recent tech selloff and trade war anxieties. The S&P 500, which had led losses the day before, was up 1.15% following a strong production report form Tesla and news that the Trump administration isn’t actively seeking to target Amazon. To the scoreboard: […]
6 things Australian traders will be talking about this morning
Tech

Apple is reportedly slashing iPhone X orders because it isn’t selling well

Several reports from Asia say Apple has slashed component orders for the iPhone X, its most important product. Apple shares dropped on the news. Apple CEO Tim Cook has previously said about component orders that “even if a particular data point were factual, it would be impossible to accurately interpret” […]
Apple is reportedly slashing iPhone X orders because it isn’t selling well
US

Apple is lagging the market as iPhone 8 woes mount

Apple has been arguably the most important company in the stock market over the past several years, but it’s been lagging broader market indexes lately. It’s experienced some weakness amid speculation that the iPhone 8 will launch later than expected, and that it will be much more expensive than previous […]
Apple is lagging the market as iPhone 8 woes mount
US

How to know if Snaphat stock is a buy or a sell

Since its March debut, shares of SNAP have traded over a wide range. Nobody, it seems, can agree on how much the stock is worth. Henry Blodget, Business Insider’s Editor in Chief, says nobody knows the future. However, as he explains, there is a fundamental framework for investors to use […]
How to know if Snaphat stock is a buy or a sell