The dollar hovered around its highest in nearly one month on Tuesday with traders expecting U.S. Treasury Secretary nominee Janet Yellen to affirm a more traditional commitment to market-set currency rates when she testifies at Capitol Hill later. President-elect Joe Biden's pick to head the Treasury is prepared to say the United States "doesn't seek a weaker currency to gain competitive advantage", returning to a more traditional posture after outgoing President Donald Trump often railed against dollar strength. Biden is set to be inaugurated on Wednesday.
Dow Jones futures: The stock market rally pulled back last week as Biden stimulus buzz wanes. Tesla Model Y China deliveries have begun.
(Bloomberg) -- Gold steadied as investors awaited commentary from Treasury Secretary nominee Janet Yellen on the dollar and stimulus when she testifies on Capitol Hill a day ahead of Joe Biden’s inauguration as president.Yellen’s Senate confirmation hearing is likely to feature foreign-exchange policy, and will also serve as the first congressional forum where lawmakers will vet Biden’s $1.9 trillion Covid-19 relief plan, parts of which have already drawn opposition. Earlier, the Wall Street Journal reported Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates.Bullion has fallen more than 3% this year as benchmark Treasury yields and the greenback climbed on forecasts that coronavirus vaccines and stimulus packages will aid the economic recovery. In early Asian trade on Tuesday, a gauge of the currency was steady after climbing over the past two weeks.Spot gold was little changed at $1,839.06 an ounce at 8:43 a.m. in Singapore, after rising 0.7% on Monday. Silver fell, palladium was flat, and platinum gained. The Bloomberg Dollar Spot Index rose 0.2%.Traders are also monitoring President Donald Trump’s last full day in office, when he may issue a slew of pardons. Biden’s swearing-in at the U.S. Capitol on Wednesday will come amid an unprecendented level of security given the still-simmering threats of violence in Washington.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The ESG boom brought in trillions of dollars in 2020… But this one little-known play could take off in 2021
EUR/USD Current Price: 1.2078 * Market players awaiting first-tier events to take place later in the week. * Focus on the US Joe Biden´s inauguration next Wednesday. * EUR/USD bearish and pressuring a mid-term Fibonacci support level.The American dollar kept advancing this Monday, with EUR/USD reaching a one-month low of 1.2053, bouncing just modestly from the level to settle in the 1.2070 price zone. A holiday in the US kept major pairs confined to tight ranges during the American afternoon, as investors await for first-tier events later in the week. The European macroeconomic calendar had nothing relevant to offer, and trading remained dull, although with the greenback retaining its strength.This Tuesday, Germany will publish December inflation figures and the January ZEW survey. The Economic Sentiment is seen contracting both in the country and the EU. The US won't publish relevant macroeconomic data, with the focus on the US Joe Biden´s inauguration next Wednesday.EUR/USD Short-Term Technical Outlook The EUR/USD pair has room to test the critical 1.2000 threshold. The pair is trading around the 38.2% retracement of its November/January rally at 1.2062. A sustained decline below the level should open the door for a steeper decline. In the near-term, and according to the 4-hour chart, the risk remains skewed to the downside, as the 20 SMA heads firmly lower below the larger one and above the current level. Technical indicators remain within negative levels, far from indicating an interim bottom.Support levels: 1.2050 1.2010 1.1970 Resistance levels: 1.2090 1.2130 1.2180 View Live Chart for the EUR/USDSee more from Benzinga * Click here for options trades from Benzinga * AUD/USD Forecast: Reaches Weekly Highs And Holds Positive Bias * EUR/USD Forecast: Short-Term Technical Picture Turns Slightly Negative(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Barron’s recently argued that shares looked pricey at $18. Now they’re nearly $40. The timing of our bearish call was terrible, but our downbeat view on the stock remains the same.
Intel is slated to release fourth-quarter 2020 results on Jan 21, 2021.
China reported positive growth in 2020 at 2.3%, and 6.5% in Q4, the slowest annual rise in 40-odd years.
Netfix (NFLX) reports Q4 earnings after market close on January 19. Can it maintain robust growth in paid streaming memberships amid the COVID-19 crisis?
USD/CAD tried to settle above the resistance at 1.2800 but failed to develop sufficient upside momentum.
Also: Coinbase plans infrastructure updates to prevent outages during periods of volatility.
(Bloomberg) -- Sequoia Capital agreed to invest in Auto1 Group SE at a valuation of about 6 billion euros ($7.2 billion) ahead of the German online car-trading platform’s initial public offering, people with knowledge of the matter said.The U.S. venture capital firm and rival fund Lone Pine Capital reached a preliminary deal to each buy about 50 million euros of Auto1stock from early investor DN Capital, according to the people, who asked not to be identified because the information is private. They have agreed to a lock-up period of six months, the people said.Sequoia and Lone Pine also signaled plans to invest at least 50 million euros apiece in Auto1’s imminent IPO, the people said.The move marks a vote of confidence in Auto1, which is backed Japanese billionaire Masayoshi Son’s SoftBank Group Corp., and the business of buying and selling cars online. Auto1 said last week it aims to raise about 1 billion euros from a Frankfurt share sale in the first quarter.A spokesperson for Auto1 declined to comment. An official at DN Capital didn’t immediately respond to a request for comment, while representatives for Sequoia and Lone Pine couldn’t immediately be reached during a U.S. public holiday.DN Capital became one of Auto1’s first backers when it invested in the company in 2013, the year after the German startup was founded, according to its website. The venture capital firm previously invested in app developer Shazam Entertainment Ltd., which created a music-identification service later bought Apple Inc. It also helped fund U.K. online realtor Purplebricks Group Plc and international money transfer service Remitly Inc.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Parler, the social media website popular with Donald Trump supporters which was banned on Apple, Google, and Amazon’s platforms, has returned online. While the social media site has not regained full operability, there are now two messages at its URL.
One Media has bought the producer's rights to hits from two-time platinum album Take That & Party — including the famous track "A Million Love Songs."
Selling dedicated crypto cards would alleviate pressure on Nvidia's consumer models.
(Bloomberg) -- A stronger U.S. dollar is proving to be an early test for emerging-market currencies on the eve of Joe Biden’s inauguration.The greenback gained over the last two weeks, buoyed the president-elect’s proposal for a $1.9 trillion stimulus package. Most developing-nation currencies have slumped in that span, and history suggests further pain may be in store.MSCI Inc.’s gauge of emerging-market currencies ended 2020 with its biggest quarterly advance in a decade as optimism over the distribution of Covid-19 vaccines bolstered risk appetite. Now, to a backdrop of rising cases, renewed lockdowns and vaccine concerns, it threatens to reverse those gains.“If vaccines prove less effective than we expect and [the] global economy stumbles, the ‘safe haven’ dollar would likely appreciate,” Goldman Sachs Group Inc. strategists including Zach Pandl wrote in a report.Listen: EM Weekly Podcast: Dollar’s Path; China GDP; Biden InaugurationStill, the strategists “expect broad dollar weakness” this year as exposures to risk assets and upside in commodity prices outweigh the potential drag from higher U.S. rates.One currency of interest to investors is the Turkish lira, after President Recep Tayyip Erdogan repeated on Friday his long-held belief that high interest rates fuel inflation, rekindling doubts over the direction of Turkey’s monetary policy. On Thursday, the central bank is expected to keep the nation’s one-week repo rate at 17%.“The lira has rallied and reserves are stabilizing, providing no reason to raise rates further,” according to Bloomberg Economics. “Still, inflation accelerated in December, limiting the scope for rate cuts.”Policy makers in Malaysia, South Africa and Brazil will also decide on their borrowing costs this week.Meantime, Biden’s return to the White House on Wednesday will carry particular significance for traders who follow relations between the world’s two largest economies. On Friday, the Trump administration announced it would sanction six officials from China and Hong Kong in a parting shot to Beijing.Central Banks DecideTurkey’s central bank will probably leave its benchmark rate unchanged, according to the median estimate of 26 economists surveyed BloombergTwo economists predict an increase of 50 basis points, while three forecast a hike a percentage pointThe Monetary Policy Committee led Governor Naci Agbal boosted the one-week repo rate to 17% from 15% last month, bolstering credibility with investors after he pledged to tighten policy when needed to keep prices in checkSouth Africa’s central bank will probably leave its policy rate on hold at 3.5% on Thursday, according to 16 out of 17 economists in a Bloomberg surveyOne predicted a reduction 25 basis pointsThe second wave of the coronavirus pandemic, renewed lockdown restrictions and the return of power cuts will likely stall a recovery in an economy that contracted 8% in 2020, according to central bank forecasts. Even so, the central bank signaled at its previous policy meeting that it’s reluctant to lower borrowing costs further after cutting the repurchase rate five times last year a total of three percentage pointsBank Negara Malaysia is expected to keep its benchmark rate on hold Wednesday, according to a median estimate of economists surveyed BloombergBloomberg Economics argues that the central bank can afford to stand pat after 125 basis points of easing last year. Oil prices are also recovering, and Malaysia’s key trading partner, China, remains on the mend, it saidStill, it looks like a close decision, with 12 out of the 24 economists in the Bloomberg survey expecting a 25-basis-point cut after Malaysia was placed under renewed lockdown, and in part because of Malaysia’s persistently low inflation readingsMalaysia’s December year-over-year CPI is expected to remain deeply negative on FridayThe rate decision comes after Malaysia’s king declared a nationwide state of emergency for the first time in more than half a century, suspending parliament in a move that allows embattled Prime Minister Muhyiddin Yassin to avoid facing an election until the pandemic is over.Bank Indonesia is expected to hold policy rates unchanged on ThursdayThe central bank didn’t signal that more cuts were imminent at its previous meeting in December, and may be concerned about the risk of higher U.S. yields putting the rupiah under pressureOne economist in a Bloomberg survey expects a 25 basis-point cut, perhaps because inflation has remained below target for seven months straightREAD Reflation Flashes Red for Indonesia, Malaysia Debt: SEAsia RatesChina’s one-year loan prime rate -- the reference rate for bank loans to companies -- will likely remain at 3.85% in January, according to Bloomberg EconomicsBrazil’s central bank is expected to hold the key rate at an all-time low on Wednesday, while traders look for signs of more hawkish language after policy makers warned that inflation pressures could persist into the new yearKey Chinese DataChina’s economic data was probably enough to restore China’s outperformance narrative. Fourth-quarter GDP and industrial production nummbers both beat expectations in year-over-year terms. However, retail sales and fixed asset investment numbers both fell short.December currency settlement data from SAFE are due on Friday. This was previously scheduled for last week. It will be interesting to see if the hitherto low exporter-conrates have started to increase, as one would expect given the yuan’s steady trend of appreciation in second half 2020Ongoing Chinese official resistance to appreciation will also be monitored traders after higher than expected yuan fixes and reports of state banks buying dollarsThe yuan edged lower last week and the offshore rate is a little weaker than onshore, suggesting that China has somewhat tamed appreciation expectations in the short-termMore DataTaiwanese export orders for December are expected to show a further 27% year-over-year increase on WednesdayThe Taiwan dollar remained little changed last week. The authorities are stepping up their efforts to use moral persuasion to prevent currency appreciation, Reuters reported last weekSouth Korea’s 20-day January export data are due on ThursdayThese figures will likely highlight continued resilience in external demand at the start of 2021The Korean won was the worst-performing currency in emerging Asia last week as higher U.S. yields caused a pull-back in Asia’s strongest currency in second half 2020That said, a Bloomberg study suggests that the won should be relatively impervious unless the increase in U.S. yields picks upThe Philippines reports December trade figures on Thursday, while Thailand’s December trade numbers will be released on FridaySouth Africa’s CPI inflation rate probably fell to 3.1% in December, from 3.2% the previous month, a report may show Wednesday, according to the median forecast in a Bloomberg surveyOn Tuesday, Russia’s central bank may publish preliminary 4Q data on the current-account balance, while the federal statistics service releases its consumer confidence index for the same quarterThe Finance Ministry may report its December budget balance data on Wednesday or ThursdayInflation in Poland slowed in December to 3.7% from 4.3% according to data published on Monday, in line with economist estimatesThat gives the central bank room to reduce borrowing costs as it tries to weaken the zlotyA reading of Colombia’s November retail sale figures, economic activity index and industrial production on Monday will probably show more signs of recovering activity, while remaining below pre-pandemic levelsBrazil’s economic activity data published on Monday showed a small yet better-than-expected monthly gain in NovemberMexican unemployment data, to be released on Thursday, will be monitored for signs of how high Covid infection rates are impacting jobsInflation for the first half of January, meantime, will probably be relatively stable, according to Bloomberg EconomicsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Whether you want a substitute for your laptop or a portable device, these devices have come along way since Apple’s breakthrough product
The dollar is up more than 1.5% against a basket of other major currencies since its recent low, confounding expectations of a tumbling greenback in 2021.
The British pound fell significantly during the trading session on Monday to kick off the week, reaching towards the 1.35 level.
The European Union needs a "masterplan" to move euro financial services from London to the bloc if it wants to expand the single currency's role in a global economy dominated the U.S. dollar, a senior EU lawmaker said on Monday. Markus Ferber, a senior member of the European Parliament, said if the EU wants to compete with the greenback, it needs a financial system to match it. "We need a clear step--step masterplan that helps key financial sector businesses move from the United Kingdom to the European Union," Ferber said.
The Euro fell slightly during the trading session on Monday to kick off the week in a slightly noncommittal manner.
The Australian dollar has drifted a little bit lower on Monday but continues to look for buyers just below in what has been a strong uptrend.
Stephen Harper said "the number of things that people use as reserves will expand," but the U.S. dollar will still retain its dominant role.
Ripple’s XRP token is in a perilous position this week as it continues to trade back below the $0.30 level of resistance.
(Bloomberg) -- Gold edged up, recovering from an almost seven-week low, amid caution in markets as investors assessed the outlook for the dollar and the timeline for a U.S. stimulus package.European equities and U.S. futures were under pressure. Global shares slipped last week after optimism about the $1.9 trillion U.S. aid package, and the so-called reflation trade, faltered into a long weekend, with U.S. markets shut Monday for a holiday. Bullion recovered from earlier losses “amid broad risk-off sentiment,” said Margaret Yang, a strategist at DailyFX.“Market sentiment is tilted toward the cautious side after U.S. equities pulled back from their recent highs, despite robust corporate earnings,” Yang said. “As U.S. markets are closed for a public holiday, thinner liquidity conditions could exacerbate price volatility.”Meanwhile, former Federal Reserve Chair Janet Yellen is expected to affirm the U.S.’s commitment to market-determined exchange rates when she testifies on Capitol Hill Tuesday, and she’ll make clear the U.S. doesn’t seek a weaker dollar for competitive advantage, the Wall Street Journal reported, citing people familiar with the matter. A gauge of the greenback climbed in the past two weeks, putting pressure on gold.Bullion has fallen more than 3% this year as U.S. Treasury yields and the dollar climbed on hopes that Covid-19 vaccines and more fiscal stimulus will aid an economic recovery. Inflation expectations have increased steadily since March, though too slowly to compensate for the recent spike in bond rates, diminishing gold’s appeal in what has typically been a strong month for the metal in the past decade.“We expect nominal yields to play some catch-up to the move breakevens have already had, lifting real yields and presenting a headwind for gold prices through 2021,” said Marcus Garvey, head of metals and bulks commodity strategy at Macquarie Group Ltd.Hedge funds cut their net-long positions almost a third in the week to Jan. 12, while exchange-traded funds capped the first weekly outflow in four on Friday.Spot gold added 0.3% to $1,833.81 an ounce 1:32 p.m. in London, after earlier falling as much as 1.3% to the lowest since Dec. 1. Silver and platinum edged higher, while palladium was little changed. The Bloomberg Dollar Spot Index rose 0.2%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Chainlink's LINK token set a new record price early on Monday, and other altcoins are seeing solid gains.
In our first market update this year, we’re going to discuss what the inflation outlook for 2021 is, and focus predominantly on Gold, DE30 and EURUSD.
(Bloomberg) -- Investors may take Janet Yellen’s expected endorsement of a market-driven exchange rate as an additional green light for the U.S. currency’s long-term downtrend.The U.S. Treasury Secretary-designate will affirm the U.S.’s commitment to a market-determined dollar value on Tuesday, the Wall Street Journal reported. The comments could fuel speculation authorities will not object to a softer greenback, which earlier this month fell to a two-year low against its major peers.Investors are already doubling down on wagers that stand to profit if the currency weakens further, emboldened an incoming Democratic administration that is prepared to unleash more fiscal stimulus to help the economy recover. The bets come despite a reprieve over the past few weeks that has driven the Bloomberg Dollar Index higher along with Treasury yields.“We interpret Yellen’s view to mean the U.S. government is unlikely to stand in the way of an ongoing market-driven dollar depreciation,” said Rodrigo Catril, currency strategist at National Australia Bank Ltd. in Sydney. There’s “no challenge to the current dollar downtrend.”Hedge funds boosted net short positions to the highest in nearly three years in the week through Jan. 12, according to data aggregated from the Commodity Futures Trading Commission. Meanwhile, they raised bullish bets on the pound to the most since October, and are wagering on the euro and the Australian and New Zealand currencies to rise.The U.S. adopted a policy of favoring a “strong” dollar in 1995. While the mantra evolved from one Treasury chief to another, no administration from then until the Trump years communicated, as the president did in 2017, that the dollar was “getting too strong.”“This is not the same as the strong-dollar policy of the past,” Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd., said of Yellen’s expected upcoming remarks. “A commitment to market-determined exchange rates implies that the new administration will be comfortable with further dollar weakness.”While the dollar’s recent gains have spurred talk of a sustained rebound, Goldman Sachs Group Inc. and investors in a Bank of America Corp. survey remain steadfast in forecasting a weaker greenback. The Bloomberg Dollar Spot Index has climbed more than 1% from a low in January, extending gains to touch a one-week high on Monday amid fading global risk appetite.“We continue to believe that the combination of high dollar valuations, low nominal and real rates, and a rapid recovery in the global economy will weigh on the greenback throughout 2021,” Goldman strategists including Danny Suwanapruti wrote in a Jan. 17 note.Options prices also suggest the bounce back in the dollar is in its final stages. The spread between one-year and one-month risk reversals, a gauge of market sentiment, has again turned negative -- a pattern that has preceded a fall in the spot market multiple times since September.“The dollar is still likely to move lower over the course of the year,” Seamus Mac Gorain, head of global rates at JPMorgan Asset Management, said in an interview last week. “Many of the currencies which are more levered to global growth, particularly emerging market currencies” and the Aussie are set to strengthen, he said.(Updated pricing throughout, adds options data and chart)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
The trader operating a registered digital currency exchange, says he is unable to continue operating without banking services.
The security token offering enables investors in select EU countries to share in future profits, Exordium says.
The Zacks Analyst Blog Highlights: Tesla, Alibaba Group, Baidu and Apple
With U.S. markets shut for a holiday on Monday and Joe Biden set to be inaugurated as the next U.S. president on Wednesday, major currencies remained within well-worn ranges, watching carefully the new administration's stance on the greenback. While outgoing President Donald Trump has publicly railed against the dollar's strength for years, Janet Yellen, Biden's pick to take over the U.S. Treasury, is expected to make clear that the United States does not seek a weaker dollar, according to the Wall Street Journal.
Prices fell 6% in the seven days to Jan. 17, a weekly fall not seen since the first week of September.
The Zacks Analyst Blog Highlights: Apple, Mastercard, Sanofi, Comcast and Altria Group
The business world's shift to the cloud continues to accelerate, and these companies will continue to profit from the trend.
On Saturday, Parler’s CEO, John Matze, posted on its official website: ‘Hello world, is this thing on?’
up on the latest top five stories with this list compiled The Fly.
In this article we are going to list the 15 most popular instant messaging apps. Click to skip ahead and jump to the 5 most popular instant messaging apps. I am sure many of the people who are reading this article remember the days of MSN Messenger, which was the first popular instant messaging app […]
Shares of Carrefour slumped 7% on Monday, after Canada's Couche-Tard ended its short-lived takeover talk to buy the French supermarket giant.
The U.S. dollar held firm at a four-week high against its rivals on Monday as an undercurrent of risk aswept through currency markets in the backdrop of weak U.S. economic data, knocking the Australian dollar and the euro lower. With U.S. markets shut for a holiday on Monday and Joe Biden set to be inaugurated as the next U.S. President on Wednesday, major currencies remained within well-worn ranges expecting some volatility later in the week.
EUR/USD managed to get below 1.2100 and is testing the support level at 1.2080.
Microsoft Corp. (MSFT), one of the world's largest technology companies, was founded in 1975 Bill Gates and Paul Allen in a garage in Albuquerque, New Mexico. Five years later, Gates and Allen were hired to provide the operating system for IBM's first personal computer, followed in 1985 Microsoft's launch of its now ubiquitous Windows software product. In 1986, the company raised $61 million in an initial public offering (IPO) that some analysts referred to as "the deal of the year." While Microsoft began as a software company, it has expanded its reach into broad areas of the tech industry.
The dollar clung to gains on Monday and the Japanese yen edged higher as softening U.S. economic data and rising global coronavirus cases kept investors cautious, while lockdowns and Italian political turmoil held the euro under pressure. The euro dipped to a six-week low of $1.2066 in Asia and fell to a one-month low of 125.20 yen. The yen was last up about 0.2% at 103.70 per dollar and it also rose on the risk-sensitive Australian and New Zealand dollars.
With the U.S markets closed, economic data is on the lighter side later today. China’s 4th quarter GDP numbers and COVID-19 news updates will be in focus.
GitHub apologized and offered a former employee his job back Sunday, after an investigation found "significant errors of judgment and procedure" after the employee, who is Jewish, was fired for warning colleagues to watch out for Nazis on the day of the Capitol riot.
Apple Inc(NASDAQ: AAPL) CEO Tim Cook has commented about the company’s decision to suspend Parler from its App ...
The total market capitalization of the 6 largest technology stocks, plus Berkshire Hathaway, equals $8.6 trillion, about 27% of the total capitalization of the S&P 500 ($32 trillion).
A Biden administration should bolster the ongoing EV and autonomous vehicle trend through substantial capital inflows and tax subsidies. The Global X Autonomous & Electric Vehicles ETF (DRIV) should, we think, provide optimal risk-return exposure.
I’m going to walk you through a recent trade on AAPL stock which started as a bullish calendar spread which was then adjusted into a double calendar.
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in January 2021.
This cloud king offers a good balance between value and growth.
Should you stock up on penny stocks?
Watch these companies from last year's sector to be in.
Why politics may have driven the recent all-time high in the stock market.
Spotify shares plunged on Friday after the company was hit a downgrade at Citi, while reports surfaced that Apple may be set to challenge the company with its own podcast subscription service.
The Samsung Galaxy Fold is one foldable phone already on the market. Apple is working on a foldable iPhone, Bloomberg has ...
This stock gives investors the opportunity to take advantage of diverse tech trends.
Biden stimulus buzz may be waning, as the market rally had a healthy pullback. So did Tesla. Qualcomm and JPMorgan are near buy points.
Such a device would compete with products from determined rivals like Samsung.
The company has a goal to return all free cash to shareholders. Is it enough?
Here's where to invest your money right now.
Jump-start your 2021 goals with one of these stocks.
Saban Capital Group Chairman & CEO, Haim Saban, joins 'Influencers with Andy Serwer' to discuss consolidation and M&A in the media industry.
Why the audio streaming giant spent almost $400 million to acquire two companies you may have never heard of.
These incredibly strong technology companies should deliver returns for many years.
Consumers are becoming increasingly more thoughtful about the brands they support and buy from.
Tech billionaires have a lot of money and power. And that power ties directly to one of the greatest conundrums of our time, which is the unprecedented command and control tech giants like Amazon have over us.
The Louisiana State Employees’ Retirement System initiated a large position in electric-vehicle giant Tesla, and added to stakes in Apple, Microsoft, and General Electric in the fourth quarter.
These innovators and game changers have delivered returns ranging from 16,000% to 103,000% since this century began.
WhatsApp's competitors are taking advantage of a rare misstep.
The online dating app has a link to Tinder.
WhatsApp delays enforcement of a controversial privacy change, Apple may get rid of the Touch Bar in future MacBooks and Bumble files to go public. Earlier this month, WhatsApp sent users a notification asking them to consent to sharing some of their personal data — such as phone number and location — with Facebook (which owns WhatsApp).
Pat Gelsinger’s most pressing issue will be tackling Intel’s manufacturing issues. For a company that has long insisted on doing things in house, there is no easy fix.
Stocks today cooled off, and it may be a good thing. Small caps still hold a big advance since Jan. 1.
Apple hasn't revealed how many customers have signed up for Apple TV Plus — but it clearly wants to hold on to them as it continues to bulk up the streaming service's content lineup. The tech giant is extending the free-access period for Apple TV Plus customers who have signed up through its 12-month free […]
Looking at big trends in society to find our next investments.
(Bloomberg) -- Apple Inc. has begun early work on an iPhone with a foldable screen, a potential rival to similar devices from Samsung Electronics Co. and others, though it’s planning only minor changes for this year’s iPhone line.The Cupertino, California-based company has developed prototype foldable screens for internal testing, but hasn’t solidified plans to actually launch a foldable iPhone. The development work hasn’t expanded beyond a display, meaning Apple doesn’t yet have full handset prototypes in its labs, according to a person familiar with the work, who asked not to be identified discussing private matters.Like Samsung’s Galaxy Fold, the Motorola Razr reboot and other offerings from Chinese companies including Huawei Technologies Co., a foldable iPhone would let Apple make a device with a larger screen in a more pocketable package. Apple has internally discussed a number of foldable screen sizes, including one that unfolds to a similar size as the 6.7-inch display on the iPhone 12 Pro Max. Current foldable phones have screens that are from 6 and 8 inches unfolded.The foldable Apple screens in testing, like those from Samsung, have a mostly invisible hinge with the electronics stationed behind the display, the person said. Other companies, including Microsoft Corp., have recently launched devices with visible hinges separating two distinct panels. An Apple spokeswoman declined to comment.This would be a radical departure for Apple. Its pioneering touchable, all-screen smartphone is arguably the most successful consumer technology product in history, helping make Apple the world’s most valuable company. However, a foldable iPhone is likely years away or ultimately may never be introduced. The company is currently focused on launching its next-generation flagship iPhones and iPads later this year. Apple isn’t planning major changes for this year’s iPhone line given the enhancements made to the smartphone in 2020, including 5G and new designs, according to people familiar with the situation. Inside Apple, engineers consider the next iPhones another “S” of the device, the nomenclature typically given to new iPhones with minor upgrades. The Covid-19 pandemic has also complicated product development, with Apple hardware engineers only working at the company’s Silicon Valley offices a few days a week and in limited numbers. That has meant offloading work to Apple’s engineers in China.Last year, the pandemic delayed the iPhone 12’s release several weeks, but Apple was able to still include nearly every intended feature except an accessory dubbed “AirTags” for locating physical items like backpacks and keys. The company now plans to launch that accessory this year, and it is planning multiple accessories for it including a leather keychain. Samsung announced a similar gizmo earlier this month. Though overall changes will be minor, Apple is still testing a key upgrade for 2021: an in-screen fingerprint reader. This would add a new method for users to unlock their iPhone, going beyond a passcode and Face ID facial recognition. Apple started to move away from fingerprint sensors in 2017 with the launch of the iPhone X, but Touch ID has remained as a feature on Mac laptops and cheaper iPhones since then. Qualcomm Inc., which provides Apple with 5G modems, earlier this month announced a faster in-screen fingerprint sensor. Read more: Apple Plans Return of Touch ID and New Cheap iPhoneThe feature would be convenient in an environment where users wear masks, which are often incompatible with facial recognition. An in-screen fingerprint reader, which has also been featured on Android phones for several years, could also be quicker than Face ID for some users. Apple won’t remove its facial recognition scanner though as it’s still useful for augmented reality and camera features.Apple has also discussed removing the charging port for some iPhone models in favor of wireless charging. The company moved to a magnetic MagSafe charging system with the iPhone 12, in addition to removing the charging brick from the iPhone box last year. It’s also bringing this charging technology back to the MacBook Pro. For its tablet line, Apple is planning a new iPad Pro that looks similar to the current model but adds a MiniLED display and much faster processor. A thinner and lighter entry-level iPad that uses the same design as the 2019 iPad Air is also in the works. For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Michelob Ultra beer is getting an upgrade: it’ll be served in cans made from the same aluminum used in Apple MacBooks.The appeal of the metal is a better carbon footprint. Beermaker Anheuser-Busch InBev NV and metal producer Rio Tinto Group said Friday that the new cans are partly made using a “carbon-free” process that eliminates greenhouse gases. The specialty metal comes from a joint venture between Rio Tinto and Alcoa Corp., called Elysis, which has counted Apple Inc. among its backers.American consumers have been demanding and paying more for food and beverages that make sustainability claims, causing many traditional brands to scramble for an edge among shoppers.The move to lower-carbon cans advances “the transition toward more sustainable packaging” and also provides traceability, Tolga Egrilmezer, Rio Tinto’s vice president of sales and marketing, said in a statement. “Responsibly produced aluminium can play key role in helping our customers deliver the sustainable products expected today’s consumers.”The new aluminum-making process emits oxygen instead of carbon, a process that could revolutionize the industry if it’s successful at a commercial scale.Rio Tinto said 2.5 million of the cans will be distributed over the coming months. Michelob Ultra is the second-highest selling beer dollars in the U.S. after Bud Light, according to data from research firm IRI.More details: The Michelob Ultra cans were manufactured at Anheuser-Busch’s Metal Container Corporation facility in Jacksonville, Florida, using the Elysis aluminum cast into sheet ingots from Rio Tinto’s plant in Quebec, Canada.The companies did not provide specific volume or mix of aluminum coming from the Elysis joint-venture.Anheuser-Busch partnered with Rio Tinto in October to market the lower-carbon cans.(Updates with scale of can distribution in sixth paragraph. A previous corrected the Apple products the aluminum is used in.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Pulling back at the start of 2021, Canoo (NASDAQ:GOEV) stock is bouncing back in a big way. As of this writing, shares are up 30.4% in the pre-market. Why are investors diving back into this SPAC (special purpose acquisition company), which completed its merger with privately-held electric vehicle maker Canoo late last year? Source: Canoo media Chalk it up to a news the company held partnership talks with Apple (NASDAQ:AAPL) in the first half of 2020. As you may know, the big tech powerhouse is throwing its hat into the EV ring. Given that this is something that happened months ago, there may not be much more to the story. This company hasn’t commented on its prior talks. And, it’s possible Apple has gone in another direction.InvestorPlace - Stock Market News, Stock Advice & Trading Tips But, even if the company doesn’t ink a deal with the tech giant, the rally in Canoo stock could continue. Shares could continue to climb, as the EV bubble remains fully in motion. 9 Stocks That Investors Think Are the Next Amazon So, what does that mean for investors a little late to the party? There’s possible upside from here, but tread carefully. Shares were changing hands for $12.50 per share as recently as Jan 4. A pullback back to this price level could happen if enthusiasm takes a breather. GOEV Stock and Partnership Deals There may not be much meat to the above-mentioned news of last year’s partnership talks with Apple. But, the Silicon Valley behemoth isn’t the only high-profile name looking to work with this upstart. Canoo already has an existing partnership with Hyundai (OTCMKTS:HYMTF), which was also an early investor in the company. Which, given recent news Hyundai is in talks with Apple about an EV partnership, makes things all the more interesting. Outside of the whole possible Apple-Hyundai web, there’s also been reports the company will enter a contract manufacturing deal with Magna International (NYSE:MGA). The auto parts giant has been active in partnering with other early-stage EV makers. As you may know, Magna last year inked a similar deal with Fisker (NYSE:FSR), another popular electric vehicle play. In short, the company has plenty of possible partnership deals in the works. But, it’s still uncertain whether the headline-making news will result in an actual deal (which could put more points into GOEV stock). Or, if it winds up moving in a different direction. Excitement over the Apple talks could fade. But, even if Canoo falls back from here, there are other reasons that make this unique EV upstart an interesting investment opportunity. Could the Unique Business Model be its Path to Profits? With so many EV companies going public via SPACs, it’s tough to differentiate them. Sure, each one differs in the details. But, -and-large, upstarts like Fisker are employing a strategy similar to that of established players like Tesla (NASDAQ:TSLA). However, this one is taking a more unique approach. As InvestorPlace’s Mark Hake wrote Jan. 11, Canoo is offering its vehicles on a subscription-only basis. At first, this sounds like a traditional auto lease. But, based on the details (no lease term, no down payment), it’s more like applying the SaaS model to vehicles. Given this revenue model’s higher gross margins, I agree this sounds like a surefire way to quickly scale up to profitability. But, while it sounds good on paper, I am skeptical whether it will play out well in real life. Sure, millennials and others looking for the cache of driving an EV, but lack the money to buy a Tesla, may be eager to sign up. But, will U.S. households be willing to participate in an arrangement that requires little upfront commitment, but long-term is a much more expensive way to have access to a car? Only time will tell whether this unique business model pays off. Like with other newly-public EV names, the company touts ambitious financial projections for later in the decade. And some analysts, like Roth Capital’s Craig Irwin, see sales soaring to $1.4 billion 2024. Rating shares a “buy,” Irwin’s price target for GOEV stock is $30 per share. Further Near-Term Gains Possible, But Tread Carefully Canoo remains a high-risk opportunity, given it’s speculation fueling its recent price moves. But, that doesn’t mean shares will pull back in the near term. And, not only due to the possible partnerships in the pipeline. With continued enthusiasm for EV stocks, this stock (currently at $22 per share) could head toward the $30 per share price level in the near-term. But, be careful. The renewed interest in GOEV stock could fast reverse course, if recent rumors fail to produce actual game-changing news. Tread carefully, but this definitely remains an EV stock to keep on your radar. On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Going on a Tear Once Again, Tread Carefully With Canoo Stock appeared first on InvestorPlace.
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When it comes to growth stocks, we often look to the tech sector. However, some investors are a little nervous about big technology and social media giants these days. Most of the FAANG stocks are under increasing scrutiny. The prospect of government actions over monopolistic behavior is looming. One way to invest in a big tech company while minimizing risk is to go with Microsoft (NASDAQ:MSFT). It didn’t post spectacular gains in 2020, but MSFT stock still managed 40% for the year. Few investors would complain about that kind of return. Source: NYCStock / Shutterstock.com More importantly, Microsoft has already had its monopoly scare and survived intact. The company is not in regulator sights, effectively removing that wildcard from the equation. Big Tech Risks Regulation Big technology companies have been in the headlines for the past several years but for reasons that make investors anxious. Yes, many have achieved incredible growth. But some have done so snapping up competing companies before they become a threat.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Social media companies have become platforms for news and essential communication, which makes them rife for targeting bad actors. App stores have become huge moneymakers, but tech companies that take a big cut of sales are beginning to generate a backlash. This all began to come to a head in 2020. The Federal Trade Commission (FTC) is taking action against what it sees as illegal monopolization. The Department of Justice (DOJ) is actively investigating antitrust allegations related to how app stores are run. In the European Union, the drumbeat is growing to break up big tech companies. 9 Stocks That Investors Think Are the Next Amazon It’s hard to say what may come of all this. It could be anything from tech companies being forced to divest themselves of divisions, to large fines, to increased regulation. The uncertainty has many investors spooked — which is completely understandable. Microsoft has been largely absent from these conversations. Why? The biggest reason is that Microsoft was the poster child for these very same actions two decades ago. In 2000, the company was found to be a monopoly and ordered to be split up. After a series of appeals, moves to satisfy regulators and the growth of competing tech companies that diluted Microsoft’s influence, the company survived intact. But MSFT stock took a beating and then stagnated for over a decade. Today, however, Microsoft is back. Over the past five years, MSFT stock has posted 318% growth. And unlike in the 1990s, Microsoft has largely avoided situations that would attract regulators. Long-Term Moneymakers and High Profile Products Microsoft growth continues to be powered legacy products like Windows and Office. The company transitioned Office from packaged software to a subscription model with cloud-based versions and support for mobile platforms. As a result, the Office cash cow continues, decades after it was first released. But now it is largely recurring revenue. In its last quarter, Microsoft reported Office 365 commercial revenue up 21% year-over-year (YoY), while Office consumer products and cloud revenue was up 13%. In addition, Microsoft has a healthy cloud-computing business. During that last quarter, intelligent cloud revenue hit $13 billion, with Azure revenue growth up 48% YoY. Microsoft is also expecting to see a big boost from two key products through 2021. Teams had a breakout year in 2020 thanks to the pandemic forcing many companies to have staff work from home. MSFT is on the attack, rapidly increasing Teams functionality to take on competitors in the remote collaboration, video conferencing and voice call markets. At this year’s Consumer Electronics Show, computer monitors with a dedicated Teams button made an appearance. The Series X/S next generation game consoles will also figure prominently in Microsoft’s future. Gaming is increasingly important to the company’s bottom line. The November 2020 launch was described Microsoft as “the most successful debut in our history,” with more of the new consoles sold than in any previous generation. 2021 will be the first full year of Xbox Series X/S sales. That is expected to pump money into Microsoft’s coffers as gamers line up to buy the latest and greatest new consoles, along with games and services like Xbox Live. Bottom Line on MSFT Stock The bottom line on MSFT stock is that it’s a great option if you want to invest in a high-growth technology giant with long-term staying power. Especially if you’re concerned about the current regulatory scrutiny so many of these companies find themselves under. On the date of publication, Louis Navellier had a long position in MSFT. Louis Navellier did not have (either directly or indirectly) any other positions in the securities mentioned in this article. InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the “Master Key” to profiting from the biggest tech revolution of this (or any) generation. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Microsoft Stock Is a Safe Choice Among Big Tech Companies appeared first on InvestorPlace.
Apple Inc (NASDAQ: AAPL) supplier Hon Hai Precision Industry Co., Ltd.-ADR (OTC: HNHPF), widely known as Foxconn, has announced a ...
Top tickers for midday: AAPL, TSLA, PLTR, NIO, WFC, FB, BB, AMD, TLRY, GME, AMZN, BAC, ZM, BABA, PLUG, XOM, MSFT, CCIV, F, JPM.
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Wedgewood Partners recently released its Q4 2020 Investor Letter, a copy of which you can download here. The Fund returned 12.2% for the fourth quarter of 2020. Meanwhile, the benchmark S&P 500 Index and the Russell 1000 Growth Index gained 12.2% and 11.4%, respectively. You should check out Wedgewood Partners’ top 5 stock picks for […]
Last year was a tale of two halves for dividend equities. Owing to the novel coronavirus pandemic, the first half of 2020 was chock full of payout cuts and suspensions S&P 500 member firms, but dividends rebounded mightily in the second half of the year, indicating that many of the top stocks for 2021 are dividend payers. The fourth-quarter trajectory of S&P 500 payouts indicates that the darkest clouds of the coronavirus cuts have passed. And dividend investors could be in for better things this year. “Indicated dividend net changes (increases less decreases) for U.S. domestic common stocks increased $9.5 billion during Q4 2020, compared to a decline of $2.3 billion in Q3 2020, and a gain of $10.6 billion in Q4 2019,” noted the S&P Dow Jones Indices. “For Q4 2020, aggregate increases amounted to $13.9 billion, up 64.2% from the $8.4 billion increase of Q3 2020 and up 15.7%, from Q4 2019’s $12.0 billion. Aggregate dividend cuts decreased 59.8% to $4.3 billion from Q3 2020’s $10.8 billion in cuts, and was up 221% from the $1.3 billion in cuts for Q4 2019.”InvestorPlace - Stock Market News, Stock Advice & Trading Tips Adding to the case for dividends in 2021 are recent dividend futures data, which, as Goldman Sachs notes, implies those contracts could bring cuts. But the bank says that’s a case of mispricing and that dividends should rise this year. 9 Stocks That Investors Think Are the Next Amazon With that opportunity ahead, here are some of the top dividend stocks to consider for 2021: Apple (NASDAQ:AAPL) JPMorgan Chase (NYSE:JPM) Western Union (NYSE:WU) Microsoft (NASDAQ:MSFT) VICI Properties (NYSE:VICI) Equinix (NASDAQ:EQIX) Texas Instruments (NASDAQ:TXN) Dividend Stocks: Apple (AAPL) Source: View Apart / Shutterstock.com Apple’s dividend yields just 0.64%. In this environment of historically low interest rates and depressed yields, the company doesn’t standout on the basis of yield. However, it is one of the rare examples of a name that’s legitimately a growth stock with a solidified, growing dividend. In gone eras of investing, technology companies didn’t rush to pay dividends because it was supposedly a sign that growth was behind them. That’s not the case with Apple. A relatively new participant in the dividend landscape, AAPL stock has consistently surged since it became a dividend payer less than a decade ago. As of Jan. 15, the company has a market capitalization of $2.15 trillion. The combination of 5G iPhone sales, a bigger push into high margins, revenue-steadying subscription-based services and its robust entertainment arm make Apple a top stock for 2021. For its most recent quarter, the company had $191.83 billion in cash on hand — more than enough to support and grow the dividend this year. JPMorgan Chase (JPM) Source: Roman Tiraspolsky / Shutterstock.com For a good portion of 2020, allocating to bank stocks, including JPMorgan Chase, tried investors’ patience. The group fell out of favor because of low interest rates, but that wasn’t all. Shareholder rewards (the one benefit of being involved with these names) suffered a blow when the Federal Reserve told the largest banks to scrap buybacks and that there would be no payout growth in 2020. Rather, JPMorgan had to set aside large sums of capital to cover bad loans due to the fragile Covid-19 economy. On that note, the sour loan situation didn’t turn out to be as bad as the Fed expected. That could mean at some point in 2021, JPMorgan and rivals will be allowed to repatriate that cash back into earnings. 7 Dividend Stocks That Are Growing Their Payouts There are reasons for optimism when it comes to the JPM stock dividend, including the Fed relenting on the buyback freeze last month. JPMorgan seized on that announcement, swiftly saying it will repurchase $30 billion of its shares. Western Union (WU) Source: apichon_tee/ShutterStock.com Dividend stocks are often associated with large- and mega-cap companies, but some smaller stocks have enviable payout track records. That group includes money-transfer provider Western Union. The company has a $8.95 billion market cap and yields 4.16%. This results in an annual payout of 90 cents per share, up from 24 cents a decade ago. WU stock was a sluggish performer last year, and its prosaic business doesn’t seem to jive with the current level of sexiness ascribed to the fintech revolution. But Western Union has digital capabilities of its own that could act as catalysts for the sleepy stock this year. “Expanding real-time payout capability is a key focus of the Company’s digital growth strategy which centers on growing its industry-leading digital services offered through westernunion.com and digital partnerships,” according to the company. “Together, the two growth drivers grew digital revenue 45% year-over-year in the third quarter of 2020, representing 21% of Western Union’s consumer business and trending at an annual rate of over $900 million.” Microsoft (MSFT) Source: The Art of Pics / Shutterstock.com Microsoft’s dividend history is longer than Apple’s. But they are both prime examples of growth companies that offer much more than just a dividend. Rather, they are growth names with the ability to support and grow the payout while delivering impressive levels of capital appreciation. While so many energy, consumer discretionary and real estate companies — just to name a few sectors — were cutting and halting dividends in 2020, Microsoft grew its payout. Last September, the tech giant raised its quarterly payout to 56 cents a share, a 10% increase. The company finished 2020 with $136.52 billion in cash on hand, so future dividend growth is easily supported. The Top 7 Marijuana Stocks to Buy for January Of course, Wall Street demands more of MSFT stock than dividend growth. And investors should, too. Fortunately, the company can execute. In the September quarter, Microsoft’s Azure cloud business, the second-largest of its kind, grew 48%. While the PC market could ebb a bit this year, Office 365, particularly the including Teams, adds another growth driver for the company. VICI Properties (VICI) Source: Shutterstock Real estate investment trusts (REITs) were among the most egregious offenders when it came to dividend cuts in 2020. But VICI Properties didn’t get that memo, raising its payout 11% for its third consecutive hike. VICI is a gaming REIT, meaning it’s in the casino real estate business. To that end, it’s worth noting the company is the property owner of Caesars Palace on the Las Vegas strip, among dozens of other domestic gaming venues. However, investors should also note that Caesars Entertainment (NASDAQ:CZR) is the REIT’s biggest client, and Caesars has a deep portfolio of regional casinos. Translation: VICI is significantly less Vegas-dependent than meets the eye. In fact, just about a quarter of its rental income was generated on the strip in the September quarter. VICI has some growth levers to pull as 2021 unfolds. Caesars is likely to divest several properties around the country to generate cash. VICI is the likely suitor for some of those venues, as it holds rights of first refusal for some assets on the strip. Additionally, VICI has served as partner for smaller casino operators looking to scoop regional venues, which leads to new rental income. Equinix (EQIX) Source: Ken Wolter / Shutterstock.com With a current price around $700, data-center REIT Equinix isn’t for everyone. EQIX is in the midst of a pullback that’s seen it retreat 17% from its 52-week high. But that could be a buying opportunity for investors. Data centers house servers and networking gear. And with cybersecurity and cloud-computing spending forecast to surge again this year, the case for EQIX stock remains strong. Plus, Equinix has recent history on its side, easily topping broader real estate benchmarks for five years. There are plenty of avenues for growth in 2021. 7 Hot Stocks That Will Keep You Energized With 3%-Plus Yields “Interconnection remains strong and, in our view, will continue to be the primary driver of Equinix’s continuing strength. The firm added eight new cloud on-ramps in the quarter, bringing its total to 160 and, resulting in a 42% market share in its footprint according to the company,” according to Morningstar. Texas Instruments (TXN) Source: Katherine Welles / Shutterstock.com Semiconductor maker Texas Instruments is one of the original tech dividend names, initiating its payout in 1962. That’s ancient in tech dividend terms. More importantly, the payout grew at a compound annual growth rate (CAGR) of 27% from 2004 to 2019. 2020 marked the 17th consecutive year in which the payout grew. Like many of its tech dividend counterparts, Texas Instruments has growth outlets despite being a mature company. Its battery management system (BMS) makes it a credible electric vehicle (EV) derivative play. The BMS is used EV manufacturers to “reduce the complexity of their designs, improve reliability and reduce vehicle weight to extend driving range.” Design and extended range are two of the big hurdles that, if cleared, could rapidly speed EV adoption. There are more glamorous semiconductor stocks, but TXN is a way for conservative investors to get some EV exposure while getting compensated. That’s no small feat given the scarcity of dependable dividends in the EV arena. On the date of publication, Todd Shriber did not have (either directly or indirectly) any positions in any of the securities mentioned in this article. Todd Shriber has been an InvestorPlace contributor since 2014. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post The 7 Top Dividend Stocks for 2021 appeared first on InvestorPlace.
The Euro fell rather hard during the course of the week, reaching down towards the 1.21 handle.
Pasting the one-line command into a browser can also activate it
It was never a popular feature since its introduction in 2016.
One of NIO's co-founders has taken a new job elsewhere.
The global case tally for the coronavirus-borne illness COVID-19 climbed above 93 million on Friday and the death toll edged closer to 2 million, with the U.S. leading all nations cases and fatalities.
There’s a phrase on Wall Street that investors often “buy the rumor and sell the fact.” We may be seeing some of ...
Apple Inc. may be set up to report a strong holiday quarter, but that's not enough to warrant a rosy view of the stock, according to one analyst.
We’re looking for today’s early weakness to continue as long as the EUR/USD remains on the bearish side of the 50% level at 1.2187.
When C3.ai (NYSE:AI) stock started trading in December, investors initially met shares with unprecedented demand. Prices jumped 300% within two weeks, giving AI stock the dubious award of “priciest tech stock” Barron’s, a financial magazine. Source: Blackboard / Shutterstock Alas, such bullishness couldn’t last. C3.ai stock went on to lose a third of its value as investors reevaluated their options. With shares now at $138, is it time to pounce? The answer … is complicated. While AI stock is likely worth closer to $200 in the long run, its business model is poorly understood — despite its name, C3.ai is not actually an AI firm. That makes its shares risky: Hot-money investors will pull out when they realize the company will manage 40% to 70% annual growth, not 400% to 700%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Still, C3.ai has one of the best technological platforms in the business. So even if you’re hesitant buying shares at $138, make sure you’re ready to back up that truck the moment the stock ever crosses below $100 again. AI Stock: Red Hat for the 21st Century To understand what C3.ai does, consider the variety of apps that power a work-from-home routine. You might start the day checking emails on Microsoft (NASDAQ:MSFT) Outlook, then schedule meetings on Slack (NYSE:WORK) after logging sales calls on Salesforce (NYSE:CRM). All while trying to set up your toddler on a Zoom (NASDAQ:ZM) playdate. 7 Dividend Stocks That Are Growing Their Payouts Even those who don’t use software regularly all have the shared experience of some obtuse HR software that tells you, “your username wasn’t found in our system.” (But I work here!) It’s a tangle of software providers that rarely work together. C3.ai seeks to solve that problem for enterprise data. Founded in 2009 veteran Silicon Valley billionaire Thomas M. Siebel, the firm packages various open-source software under a single umbrella. The final product, known as the C3.ai Suite, allows companies to use a single data-management platform. Rather than stitching together dozens of providers themselves, companies can exclusively use C3.ai to collect, distribute and analyze information. It’s not the first time a company has repackaged open-source software for enterprise use. RedHat, founded in 1993, put professional programmers (and a reasonably strong sales team) behind a new operating system Linux, which now runs 90% of public cloud computing services. And more recently, the Cloudera/Hortonworks (NYSE:CLDR) merger has worked to bring Hadoop, a powerful open-source data-networking tool, to enterprise clients. C3.ai, however, takes this a step further. It’s become arguably the best one-stop shop for companies seeking a unified data platform including no fewer than 17 dimensions in its software suite. And according to an independent analysis ZDNet, a business technology publication, two core patents at the company solve a long-standing issue of integrating Hadoop into enterprise software. So, even though the C3.ai Suite doesn’t focus on cutting-edge artificial intelligence, it provides the tools needed to run the massive computing power that AI and machine learning need. Growing Pains at C3.ai C3.ai isn’t without its faults. Most problematically, the company is an unabashedly technology-first, sales-second company. No salespeople sit on their executive team. And its lackluster sales performance means that the company’s top-three customers now produce almost 50% of total revenues. Growth has also slowed — the company saw just 11% revenue growth in the six months ending October 2020. These signs point to the same problem: the company needs a higher-quality sales operation. For most high-tech startups, adding a sales team is often a terrifying thought — what high-brow development team wants to “dirty” their ranks with smooth-talking salespeople? But even the highest-quality software won’t sell itself in the competitive B2B (business-to-business) world. Enterprises know that software switching costs are monumental. Most won’t switch services without a firm push from a good sales team. C3.ai has begun to solve this problem. In the past six months, the company more than doubled the stock-based compensation to its sales and marketing team. It’s a necessary first step, but the company still needs to find a winning sales formula to capitalize on its low marginal costs. AI Stock: What Is It Worth? The work-in-progress company has thrown Wall Street analysts into a virtual shouting match. The most bearish of all, J.P. Morgan analyst Mark Murphy, issued a $84 price target on the stock. This suggests a 40% downside. Meanwhile, Wedbush analyst Daniel Ives gave the company a $200 price target — creating a gap wide enough to sail a cruise liner through. In the short term, the truth is somewhere in between. C3.ai desperately needs to nurture its sales team with better management and incentives beyond generous stock options. Without that, the company will likely miss the 14.5% sequential growth that analysts expect, dragging its price to a range of $100 to $120. Longer term, however, C3.ai looks like a clear winner. Its hidden weapon, an enterprise-friendly packaging of Hadoop, is a keystone to any company that wants analytics, machine learning and AI capabilities. That includes everything from catching bank fraud to optimizing supply chains. And as the necessity for data analytics grows, so too will demand for the company’s products. Investors should observe; though the AI stock price looks weak today, it’s a long-term winner among the SaaS companies. On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next 1,000% Winner It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post With C3.ai Stock Down 22%, Investors Should Still Wait for Better appeared first on InvestorPlace.
InvestorsObserver issues critical PriceWatch Alerts for AAPL, LRN, GE, JNJ, and SOLO.
Over half of all wearables shipments in the third quarter were smart audio devices.
The Euro initially tried to rally on Friday but gave back the gains as we look likely to pay close attention to the 50 day EMA, sitting just below.
In what is now a seemingly annual trend, 2020 looks to have been another record-setting year in the realm of cybercrime. The year saw a ...
Qualcomm and two other tech giants should easily weather the next market downturn.
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Tesla Inc. got a another bullish endorsement Friday from Wedbush's prolific analyst Dan Ives, who raised his stock price target 33%, but he still won't recommend investors buy the stock.
Software giant Microsoft has earned plaudits for its successful pivot from desktop computing to cloud computing. Many investors may be wondering: Is MSFT stock a buy right now?
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A coalition made up of health and technology companies which include both Microsoft Corporation, Salesforce.com Inc, and Oracle Corporation is working on developing a digital passport for COVID-19 vaccines.
With a digital estate plan, all your online accounts and services can be deleted, managed or transferred to someone else after you're gone.
Sterling rose against the euro on Friday, touching an almost two-month high, after data showed Britain's national lockdown in November was less damaging for the economy than expected. Britain's economy shrank in November for the first time since the initial COVID-19 lockdown last spring, but the 2.6% monthly decline was smaller than most analysts expected. Sterling was at 88.93 pence at 0933 GMT, not far from the Nov. 11 high of 88.66 pence touched in earlier morning trade, after the data showing the impact of the national lockdown in November.
Apple Inc (NASDAQ: AAPL) is working towards bringing its Music and Podcast apps to Microsoft Corporation’s (NASDAQ: MSFT) Store ...
The outgoing President Donald Trump’s administration continues to add pressure on China even as its term nears an end. In the ...
EUR/USD is testing the nearest support level at 1.2130.
Sales of consumer electronic goods have been on the rise and the market is likely to grow. Given this situation, it would be prudent to invest in these five stocks.
The larger pool of eligible people though has made it even more cutthroat to secure a vaccine appointment.
EUR/USD fell 0.1% to 1.2140, only marginally dipping despite the political turmoil in Italy, the euro-zone’s third largest economy, with the ruling administration under pressure after a small party within the coalition withdrawing its support.
A busier economic calendar puts the Pound and the Dollar in focus. Expect COVID-19 news, chatter from Capitol Hill, and Italian politics to also influence, however.
What was the most important financial event of 2020? Most folks would tell you it was the coronavirus pandemic and the economic devastation caused government lockdowns. But that’s wrong. For investors, the most life-changing thing that happened last year has to do with computer chips. In 2020, for the first time ever, the value of the computer […]
Dow Jones futures await the $1.9 trillion Biden stimulus plan tonight. The uneven stock market rally faded Thursday, but Airbnb led new breakouts.
* The EUR/USD managed to cut losses during the New York session. * Short-term technical picture turns slightly negative with 1.2100 as main support.The EUR/USD pair stretched lower on Thursday and hit a fresh 1-month low at 1.2110 at the beginning of the American session, although it managed to cut losses afterwards and climbed back to the 1.2150 area. The dollar strengthened broadly amid higher US yields on prospects that President-elect Joe Biden is set to announce a covid relief plan, which is reported to amount around $2 trillion, at his speech at the beginning of the Asian session. Meanwhile, Federal Reserve Chairman, Jerome Powell, sounded somewhat optimistic about the economic recovery. Still, Powell noted time to raise interest rates is no time soon and that the central bank would not alter its monetary policy for the foreseeable future, which however, came as little surprise and had limited impact on the greenback.On the data front, US Initial Jobless claims rose to 965K last week, the highest level since August and above the 795K expected. The ECB Meeting Accounts were published on the other side of the pond, which showed the Governing Council is concerned about the euro's exchange rate and its potential negative impact on the inflation outlook. On Friday, data includes Eurozone trade balance figures. In the US it will be a busy day, with Producer Price Index, Retail Sales, Industrial Production and Consumer Confidence numbers due.EUR/USD Short-Term Technical Outlook In the 4-hour chart, the technical picture looks slightly bearish for the EUR/USD after today's fall. Even though the RSI and Momentum indicators are hovering in positive territory, the price trades below its main moving averages, while the 50 and 100 SMAs have completed a bearish cross at the same time that the 20 and 200 SMAs plotted the same pattern. The EUR/USD slid briefly below the 1.2130 significant support, but it managed to rebound back above. A decisive breakdown of this level could push the pair to the 1.2100 psychological level. On the other hand, the pair needs to regain the 1.2170-80 zone to ease the immediate pressure.Support levels: 1.2130 1.2100 1.2080Resistance levels: 1.2170 1.2220 1.2285See more from Benzinga * Click here for options trades from Benzinga * AUD/USD Forecast: Maintains Bullish Short-Term Bias * EUR/USD Forecast: Short-Term Technical Picture Turns Slightly Bearish(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Each year, Sharesight20 looks back at the top 20 buy and sell trades made Sharesight users throughout the year. Benzinga analyzed ...
The price action suggests that the major players are likely on the sidelines until they hear what Biden has to say.
Each day, Benzinga will take a look back at a notable market-related moment that happened on this date. What Happened? On this day in ...
The Euro has been drifted lower during most of the trading session on Thursday as we continue to see yields in the United States rise ever so slightly.
Pat Gelsinger, with eight patents to his name, will aim to narrow the gap to competitors AMD and Nvidia.
While the charts of Microsoft Corp and Apple Inc are still holding up well they have not made new highs with the Nasdaq Composite and Nasdaq-100 recently. The tech giants still remain below their September 2020 highs.
The industry sees a chance to burnish its credentials while fulfilling an urgent societal need. But the ambitious deployment comes fraught with risks, as illustrated potential security breaches in open-access systems and fraudulent accounts.
The data monitoring company could struggle to replicate its massive gains from last year.
This unusual options alert can help traders track potentially big trading opportunities. Traders often look for circumstances when the ...
Tech and pharmaceutical companies dominate Glassdoor’s latest employees’ choice awards
The Russian government-backed cybersecurity attack that exploited flaws in SolarWinds software should be a wake-up call to the U.S. and other nations, Microsoft President Brad Smith said.
InvestorsObserver issues critical PriceWatch Alerts for AAPL, TSLA, BAC, GE, and MSFT.
Market cap is a measure of a company’s value that investors are placing on the company at a given point in time. This measure refers to the total dollar value of a company’s outstanding shares of stock.
Dow Jones futures: As a Trump impeachment vote nears, Tesla rebounded while GM and Uber led breakouts. Apple and other big techs are keeping the stock market rally cool.
Microsoft Corp. will publish fiscal year 2021 second-quarter financial results after the close of the market on Tuesday, Jan. 26, 2021, on the Microsoft Investor Relations website at https://www.microsoft.com/en-us/Investor/. A live webcast of the earnings conference call will be made available at 2:30 p.m. Pacific Time.
Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in Kraft Heinz Co (KHC), where a total volume of 33,610 contracts has been traded thus far today, a contract volume which is representative of approximately 3.4 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 63.8% of KHC's average daily trading volume over the past month, of 5.3 million shares..
The riots at the U.S. Capitol have prompted a number of high-profile companies to suspend or review their political donations. Some ...
Gates also called on the federal government to ‘step up’ its vaccine rollout, and talked about how the pandemic is widening the gender gap
Avoid the risks of concentrating too much of your portfolio in these stocks that performed well in 2020.
Long-term investors can position themselves for success with this Apple-enabling stock.
Over half of the most valuable global brands have experienced a decline in brand value, a measure that takes financial projections, brand roles in purchase decisions, and strengths against competitors into consideration.
With SPACs like BFT, the merged company is similar to how a stock trades post-IPO. Expect volatility and know that there is little to analyze.
Gaming retailer GameStop Corp. (NYSE: GME) saw a rally Monday on its holiday sales and changes to the Board of Directors. Holiday ...