The latest market news & Insights
IBM Shares Fall as CEO Doubles Down on Quantum While Market Stays Skeptical
At New York Tech Week on Tuesday, IBM’s CEO made his strongest argument so far that quantum computing is real, ready for business, and closer than most people think. Even as Arvind Krishna called quantum the next step after CPUs and GPUs and promised a $10 billion investment over five years, IBM shares dropped along […]
Market Insights
Amazon Strikes Deal with Grubhub
Ticker Symbol: JTKWY, AMZN Amazon struck a deal with JustEatTakeaway.com unit Grubhub this morning, taking a stake in the food delivery business and offering the service to its U.S. Amazon Prime members at no additional cost for one year. Shares of Just Eat were up over 15% in morning trading, while Amazon shares were trading […]
Tesla Shares Drop on Disappointing Deliveries and Plant Downtime
Ticker Symbol: TSLA The largest electric vehicle manufacturer in the world, Tesla Inc, announced over the long July 4th weekend that quarterly deliveries for the second quarter were 254,695 cars worldwide, missing the average analyst forecast of 261,387 cars. Additionally, the company announced that it would halt production in numerous plants to upgrade factories and […]
Walgreens Shares Sink to New 52-Week Low Despite Strong Earnings Report
Ticker Symbol: WBA Large pharmacy-store operator, Walgreens Boots Alliance shares were trading down roughly 5% to $38.75 in the mid-morning session despite beating Wall Street’s earnings estimates. The company also reaffirmed its adjusted earnings forecast for the full fiscal year. Shares have come under pressure lately after the company put a pause on its plans […]
U.S. Bank Shares Rise After Fed Releases Stress Test Results
Ticker Symbol: JPM, MS, GS, BAC, WFC, C Large U.S. bank shares were up broadly in mid-afternoon trading today after the Federal Reserve released its stress test results and said that banks should be able to maintain regulatory buffers even in the event of a severe recession. Four of the six largest U.S. banks decided […]
Nike Shares Lower After North American Sales Miss Target
Ticker Symbol: NKE Global fitness apparel maker Nike’s shares were trading lower this morning after the company reported sales in regions that missed investors’ outlook. Despite beating revenue and earnings analyst estimates for the fiscal fourth quarter, the company provided weak guidance for its first quarter of 2023, and announced an $18 billion four-year share […]
Nike’s Exit from Russia Latest in Defections from Country
Ticker Symbol: NKE Nike, the world’s largest sneaker maker, announced its decision to shut down its business operations in Russia, ending a decade-long presence in the country. The move comes almost four months to the date of the February 24th invasion of Ukraine by Russia. The company did halt sales in Russia earlier in the […]
Coinbase Shares Drop 10% on Downgrade
Ticker Symbol: COIN, XBT Shares of cryptocurrency exchange and trading firm Coinbase Global were down over 10% this morning after the company was downgraded from a neutral to a sell-by analysts at investment bank Goldman Sachs. The price of bitcoin, the main underlying cryptocurrency traded on Coinbase’s platforms, was also lower by close to 3% […]
Zendesk Shares are Up Almost 30%, Here’s Why
Ticker Symbol: ZEN Zendesk shares are surging by nearly 30% in the morning trading session as the company announced an agreement to be acquired by buyout firms for $9.5 billion, in an all-cash transaction. The agreed deal would imply a 34% premium to Zendesk’s closing price on Thursday, or an acquisition price of $77.50 a […]
Revlon Shares are Up Over 50% As Retail Traders Look for Quick Profit
Ticker Symbol: REV Revlon shares are up 50% in the morning trading session after jumping 91% on Friday and a further 62% on Tuesday. The shares in the beleaguered company were last trading at $9.42 per share, or roughly 700% above the low share price of $1.17 that hit on June 13th, after the company […]
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