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shares of u.s.-listed chinese tech companies traded mostly higher in hong kong on tuesday, leading the benchmark hang seng index higher. what’s moving : shares of alibaba group holding limited (nyse: baba ), baidu inc. (nasdaq: bidu ), jd.com inc. (nasdaq: jd ), li auto inc. (nasdaq: li ) and xpeng inc. (nyse: xpev ) advanced in a range of 1% to 2%, while tencent holdings inc . (otc: tcehy ) traded 0.5% lower. the benchmark hang seng index opened higher on tuesday and was up almost 0.6% at the time of writing. the index closed almost 0.7% lower on monday. chinese artificial intelligence chip start-up axera has raised $126 million from food delivery giant meituan and other investors in a new funding round, as per a report by cnbc. see also: how to buy alibaba (baba) stock why is it moving? the hang seng index rose after two days of losses amid hopes for more policy easing measures by beijing after data released on monday showed that china’s economic growth slowed in the fourth quarter last year. china’s gdp grew 4.0% in the fourth quarter, slowing from 4.9% in the preceding quarter, reuters reported , citing data from the national bureau of statistics. meanwhile, troubled cruise operator genting hong kong ltd. said it may file for provisional liquidation if it does not receive "credible proposals" for a solvent restructuring solution after its german shipbuilding subsidiary filed for insolvency in germany last week. trading in the company’s shares has been suspended in hong kong. shares of chinese companies closed higher in u.s. trading on friday even as the major averages in the u.s. ended mixed. the u.s. markets were closed on monday for a public holiday. alibaba’s shares closed almost 0.2% higher, while nio’s shares ended higher by 1.5%. tesla inc.'s (nasdaq: tsla ) deliveries out of its giga shanghai factory totaled 484,130 vehicles in 2021, of which 321,000 vehicles were sold in china, it was reported on monday, citing cnevpost. read next: tesla demands law firm to fire attorney who questioned elon musk: wall street journal | 2022-01-18 |
shares of u.s.-listed chinese tech companies traded mostly higher in hong kong on thursday, lifting the benchmark hang seng index to its highest level in almost two months. what’s moving : shares of alibaba group holding limited (nyse: baba ), baidu inc. (nasdaq: bidu ), jd.com inc. (nasdaq: jd ) and tencent holdings inc . (otc: tcehy ) advanced in a range of 4% to 5%. electric vehicle maker xpeng inc.’s (nyse: xpev ) shares fell almost 1%, while peer li auto inc. (nasdaq: li ) traded flat. tiktok-owner bytedance has dissolved its investment arm as part of its restructuring, cnbc reported wednesday, citing a company spokesman. the benchmark hang seng index opened higher on thursday and was up 2.2% at the time of writing, rising to its highest level since november 25. the index closed flat on wednesday. see also: how to buy alibaba (baba) stock why is it moving? the hang seng index advanced — led by tech and property stocks — after the people’s bank of china (pboc) cut key lending rates to support the chinese economy, which is struggling from muted consumer spending and a slump in the property sector. the central bank cut the one-year loan prime rate (lpr) by 10 basis points from 3.8% to 3.7%. it was earlier trimmed by five basis points in dec. 20. the five-year lpr was reduced from 4.65% to 4.6% — the first reduction since april 2020. shares of chinese companies closed mostly lower in u.s. trading on wednesday after the major averages in the u.s. ended lower for the second straight day. alibaba’s shares closed almost 0.7% lower, while nio inc.’s (nyse: nio ) shares ended lower by 3.3%. nio will begin production of its electric sedan et7 beginning march 11, it was reported on wednesday, citing cnevpost. the et7 is expected to compete with tesla inc.’s (nasdaq: tsla ) model s sedan. read next: china's property market decline to send iron ore supply up | 2022-01-20 |
heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend. 1. alibaba, tech stocks tumble in hong kong : shares of u.s.-listed chinese companies — including alibaba group holding ltd. (nyse: baba ) — fell in hong kong on monday amid worries about tighter monetary policy by the u.s. federal reserve and surging covid-19 cases that could impact further economic reopening in hong kong. other stock markets in asia — including australia, india and south korea — also traded notably lower on monday ahead of the u.s. federal reserve’s monetary policy meeting scheduled for this week. 2. activist hedge fund builds unilever stake: nelson peltz’s activist hedge fund trian fund management lp has built a stake in unilever plc (nyse: ul ), it was reported, citing the financial times. the stake building in unilever comes after the british consumer goods maker faced strong opposition from investors for its plan to buy glaxosmithkline plc’s (nyse: gsk ) healthcare unit. 3. u.s. government preparing crypto strategy: president joe biden’s administration is preparing to release the federal government’s strategy on cryptocurrencies such as bitcoin (crypto: btc ) by february, it was reported , citing bloomberg. senior administration officials are drafting an executive order that will be presented to biden in the coming weeks. 4. cathie wood trims twitter stake amid new nft feature: in a marked reversal from just a month ago, cathie wood ’s money managing firm ark investment management has further reduced its stake in twitter inc. (nyse: twtr ). the latest stake sale by ark coincides with twitter’s inclusion of non fungible tokens (nft) in profile pictures — a move that was criticized by tesla inc. (nasdaq: tsla ) ceo elon musk . 5. peloton urged to fire ceo, explore sale: activist investor blackwells capital llc has urged connected fitness company peloton interactive inc. (nasdaq: pton ) to fire its ceo john foley and explore a sale, it was reported , citing the wall street journal. blackwells, which owns a less than 5% stake in peloton, believes the company could be an attractive acquisition target for larger technology or fitness-oriented companies. what else: among other stories from the weekend, investors would want to check out the ev week in review , speculation about tesla commenting operations at giga berlin, and kohl’s corp. (nyse: kss ) receiving a buyout offer worth $9 billion from a consortium backed by activist hedge fund starboard value lp. meanwhile, sony pictures’ (nyse: sony ) spider-man: no way home” has reclaimed the top position at the u.s. box office this weekend, ousting “scream,” which was released by viacomcbs inc.’s (nasdaq: viac ) paramount unit. | 2022-01-24 |
shares of u.s.-listed chinese tech companies traded notably lower in hong kong on monday, dragging the benchmark hang seng index into negative territory. why is it moving? the hang seng index was down 0.9% at the time of writing, as investors turned cautious ahead of the u.s. federal reserve’s monetary policy meeting scheduled for this week. worries about tighter monetary policy by the federal reserve and surging covid-19 cases in hong kong that could impact further economic reopening in the financial hub weighed on the market. hong kong confirmed 140 new coronavirus infections on sunday, the most in a single day in 18 months, the south china morning post reported . see also: how to buy alibaba (baba) stock what’s moving : u.s.-listed chinese tech companies traded mostly lower following the news. jd.com inc. (nasdaq: jd ) – down 5.3% alibaba group holding limited (nyse: baba ) - down 5.1% xpeng inc. (nyse: xpev ) - down 4.9% baidu inc. (nasdaq: bidu ) - down 3.8% li auto inc. (nasdaq: li ) - down 3.5% tencent holdings limited (otc: tcehy ) - down 1.9% shares of china evergrande group (otc: egrny ) have gained more than 7% after the embattled developer said has appointed an official from a unit of state asset manager china cinda asset management to its board as non-executive director. a report by bloomberg noted that china evergrande faces a deadline for coupon payments totalling $352.5 million on monday. it was reported that tesla inc. (nasdaq: tsla ) ceo elon musk shared an image of graffiti art on the giga berlin factory wall on twitter, triggering speculation that the plant may soon begin operations. the start of production at giga berlin is very crucial for augmenting tesla’s production capacity since it currently exports made-in-china cars to europe. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed sharply lower in u.s. trading on friday after the major averages in the u.s. ended lower for the fourth straight day. read next: nio's new et5 sedan will be available in norway and other markets by spring 2023: report | 2022-01-24 |
shares of u.s.-listed chinese tech companies traded notably lower in hong kong on tuesday, dragging the benchmark hang seng index into negative territory for the second straight day. why is it moving? the hang seng index was down 1.4% at the time of writing, as investors remained cautious ahead of this week’s u.s. federal reserve meeting. while the fed is likely to leave interest rates unchanged following its two-day monetary policy meeting on wednesday, the accompanying statement could hint at the first rate hike as early as march. worries about surging covid-19 cases in hong kong also weighed on the market after the financial hub recorded triple-digit coronavirus infections for the second straight day on monday, the south china morning post reported . see also: how to buy xpeng motors (xpev) stock what’s moving : u.s.-listed chinese tech companies traded lower following the news. xpeng inc. (nyse: xpev ) - down 5.1% baidu inc. (nasdaq: bidu ) - down 3.8% li auto inc. (nasdaq: li ) - down 3.4% jd.com inc. (nasdaq: jd ) –down 2.9% alibaba group holding limited (nyse: baba ) - down 1.2% tencent holdings limited (otc: tcehy ) - down 1.2% shares of mainland property developers such as agile group holdings and yuzhou group fell amid indications of persistent liquidity stress in the sector . agile group announced the sale of its stake in a joint venture on monday as part of efforts to reduce its debt. property developer shimao group holdings also said it has sold its 26.7% stake in the guangzhou asian games city to joint venture partner china overseas land & investment ltd. heavily indebted property developer china evergrande group (otc: egrny ) said it has sought more time from its offshore creditors to implement a reorganization plan that will be beneficial to all stakeholders. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed sharply lower in u.s. trading on monday even as the major averages in the u.s. recovered after a sharp sell-off earlier in the day to close higher. read next: nio, xpeng among chinese ev makers looking to try out tesla-like die-cast technology with guangdong hongtu | 2022-01-25 |
shares of u.s.-listed chinese tech companies traded mostly higher in hong kong on wednesday, lifting the benchmark hang seng index into positive territory. why is it moving? the hang seng index was up 0.2% at the time of writing — rising after two straight days of losses — amid optimism about further policy easing by beijing. oil-related stocks such as petrochina co. ltd. (nyse: ptr ) and cnooc limited advanced almost 2% each after crude oil prices rose amid worries about russia-ukraine tensions. nevertheless, investors remained cautious as they looked ahead to the conclusion of the federal reserve’s highly anticipated monetary policy meeting later today. while the fed is likely to leave interest rates unchanged, the accompanying statement could indicate the first rate hike as soon as march. see also: how to buy xpeng motors (xpev) stock what’s moving: u.s.-listed chinese tech companies traded mostly higher. baidu inc. (nasdaq: bidu ) – up 1.9% jd.com inc. (nasdaq: jd ) –up 1.4% tencent holdings limited (otc: tcehy ) – up 0.8% alibaba group holding limited (nyse: baba ) – up 0.3% li auto inc. (nasdaq: li ) - down 3.3% xpeng inc. (nyse: xpev ) - down 1.8% heavily indebted property developer china evergrande group (otc: egrny ) will hold its first investor call on wednesday after it defaulted on some dollar bond payments last month, reuters reported, citing sources. property developer shimao group holdings has put 34 projects across china for sale as it seeks to reduce its massive debt through the sale of assets, as per a report by caixin. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed mixed in u.s. trading on tuesday even as the major averages in the u.s. ended lower. it was reported that rating agency fitch expects electric vehicles to remain a key growth driver in china’s car market and projects ev volumes to reach 20% of the total market share this year. tesla inc. (nasdaq: tsla ) is the market leader among ev manufacturers in china. read next: chinese version of 'fight club' radically altered to show authorities triumphing | 2022-01-26 |
shares of u.s.-listed chinese tech companies rose in hong kong on monday, lifting the benchmark hang seng index into positive territory after two straight days of losses. why is it moving? the hang seng index was up almost 1.5% in a truncated session at the time of writing, amid optimism about further policy easing by beijing. data released on sunday showed china’s factory activity growth slowed in january as a surge in coronavirus infections impacted production as well as consumer spending. the country’s official manufacturing purchasing managers’ index (pmi) for january declined to 50.1 from 50.3 in december, reuters reported , citing data from the national bureau of statistics. meanwhile, the caixin china general manufacturing pmi — a private survey of small businesses — fell to a 23-month low of 49.1 in january from 50.9 in december. see also: how to buy xpeng motors (xpev) stock what’s moving: u.s.-listed chinese tech companies traded mostly higher. jd.com inc . (nasdaq: jd ) – up 4.1% alibaba group holding limited (nyse: baba ) – up 3.5% tencent holdings limited (otc: tcehy ) – up 1.4% li auto inc. (nasdaq: li ) – up 0.7% baidu inc. (nasdaq: bidu ) – up 0.6% xpeng inc. (nyse: xpev ) - down 1.8% the hong kong stock exchange will pause for trading at mid-day on monday and remain closed until feb. 3 for the lunar new year holidays. one of the most-prized real estate projects of heavily indebted property developer china evergrande group (otc: egrny ) was recently seized by creditor oaktree capital management, the south china morning post reported . china evergrande said in a regulatory filing that it is seeking legal advice to protect its legal rights and is also in active discussions with the lender on resolving the matter. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed mixed in u.s. trading on friday even as the major averages in the u.s. ended sharply higher in another volatile session. china’s forthcoming rules on overseas ipos will also apply to chinese companies that plan to list in hong kong, as per a report by cnbc, citing the china securities regulatory commission. read next: karaoke in your tesla vehicle? yes, but only being offered in this country so far | 2022-01-31 |
shares of u.s.-listed chinese tech companies surged in hong kong on friday as the market resumed trading after the lunar new year holidays. stock movement (+/-) li auto inc. (nasdaq: li ) +12.4% xpeng inc. (nyse: xpev ) +9.7% alibaba group holding limited (nyse: baba ) +5.0% baidu inc. (nasdaq: bidu ) +4.8% jd.com inc . (nasdaq: jd ) +1.1% tencent holdings limited (otc: tcehy ) +0.8% why is it moving? the hang seng index was up almost 2.6% at the time of writing, with the market playing catch-up with the earlier gains in other global markets. optimism that the tech sell-off in the u.s. is easing also boosted sentiment as u.s. stock futures rose following upbeat quarterly results from amazon.com inc. (nasdaq: amzn ), pinterest inc. (nyse: pins ) and snap inc. (nyse: snap ). see also: how to buy xpeng motors (xpev) stock tesla inc. (nasdaq: tsla ) rival xpeng outperformed the delivery numbers of peers li auto and nio inc. (nyse: nio ) in january, even though all the three chinese ev makers reported a sequential volume decline ahead of the slow-sales season before the lunar new year. jd.com ceo richard liu is donating company shares worth about $2.3 billion to charity. the move comes amid china’s regulatory crackdown on the tech sector and is part of chinese president xi jinping’s “common prosperity” vision. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed lower in u.s. trading on thursday after the major averages in the u.s. ended sharply lower. read next: tesla fans buy times square billboard promoting tweet from elon musk: will president biden notice? | 2022-02-04 |
each trading day features hundreds of headlines and press releases about companies. benzinga pro is a source for traders to see the latest news on the overall market and also on individual tickers. here is a look at the stocks that were searched for the most on benzinga pro for the month of january. 1. spdr s&p 500 (nyse: spy ) ytd return: -4.6% 52-week range: $379.37 to $479.98 price: $453.92 the s&p 500 themed etf was the most searched ticker on benzinga pro for the month of january. the etf was the eighth most searched ticker in 2021 across benzinga pro. the etf and s&p 500 index serves as gauges for overall market strength and news, which could lead to an increase in searches for the ticker to find macros news and themes. 2. tesla inc (nasdaq: tsla ) ytd return: -11.9% 52-week range: $539.49 to $1243.49 price: $889.49 the most searched ticker on benzinga pro in all of 2021 comes in second place to start 2022. the electric vehicle giant had nearly as many searches as spy in january, but came up just short. tesla reported quarterly earnings in january, which likely helped with continued interest in the stock. 3. apple inc (nasdaq: aapl ) ytd return: -1.7% 52-week range: $116.21 to $182.94 price: $174.23 technology giant apple was the third most searched ticker on benzinga pro in january but had a wide gap from tsla and spy, with spy searches nearly double that of aapl. like tesla, apple reported quarterly earnings in the month of january, which likely led to increased interest. aapl was the second most searched ticker on benzinga pro in 2021. 4. microsoft corp (nasdaq: msft ) ytd return: -8.2% 52-week range: $224.26 to $349.67 price: $310.87 microsoft was the fourth most searched ticker in january, a month that saw the company report quarterly earnings. the technology company failed to crack the top 10 most searched tickers in 2021, but placed 15th as an honorable mention. related link: top 10 most searched tickers on benzinga pro in 2021: tesla, apple, amc, gamestop and more 5. vinco ventures (nasdaq: bbig ) ytd return: +47.1% 52-week range: $1.95 to $12.49 price: $3.36 retail investor favorite bbig cracked the top 10 most searched tickers in january. the stock has been mentioned as a short squeeze candidate with high short interest and a high borrow cost on shares. the stock did not rank in the top 20 most searched tickers for 2021. 6. ford motor co (nyse: f ) ytd return: -.5% 52-week range: $10.36 to $25.87 price: $20.37 automotive giant ford cracks the top 10 most searched tickers in january after ranking in the top 20 for 2021. the company updated investors on its plans to continue expanding in the electric vehicle sector. the stock was a strong performer over the last two years and sees strong interest from investors. 7. nvidia corp (nasdaq: nvda ) ytd return: -16.2% 52-week range: $115.66 to $346.47 price: $244.88 semiconductor company nvidia has been a strong performer, with shares up over 80% in the last year. the stock was the seventh most searched ticker in january after ranking as an honorable mention in 2021. the ticker could continue to see strong search volume in february, with fourth-quarter earnings coming this month. 8. lucid group (nasdaq: lcid ) ytd return: -21.3% 52-week range: $16.12 to $57.75 price: $26.82 electric vehicle company lucid continues to see strong interest from investors and was a top 10 searched ticker in january. the ticker ranked fifth in all of 2021 on benzinga pro for searches. 9. invesco qqq trust (nasdaq: qqq ) ytd return: -8.1% 52-week range: $297.45 to $408.71 price: $361.80 the second etf to rank in the top 10 is the qqq, which tracks the top stocks in the nasdaq. given the wide interest in technology related and growth stocks, it isn’t too big of a surprise that it was one of the most searched tickers. earnings reports from top components also likely contributed. 10. digital world acquisition corp (nasdaq: dwac ) ytd return: +61.9% 52-week range: $9.84 to $175.00 price: $76.39 the spac taking donald trump’s media group public continues to be one of the most searched tickers. while dwac didn’t rank in the top 10 for 2021, it did place high in the second half of the year after the deal was announced. the ticker could trend in february with the rumored launch of truth social on feb. 21. honorable mention: the following tickers ranked as the next 10 most searched tickers on benzinga pro for the month of january. netflix inc (nasdaq: nflx ) advanced micro devices (nasdaq: amd ) sofi technologies (nasdaq: sofi ) immix biopharma (nasdaq: immx ) amc entertainment holdings (nyse: amc ) moderna inc (nasdaq: mrna ) peloton interactive (nasdaq: pton ) alibaba group holding (nyse: baba ) amazon.com inc (nasdaq: amzn ) reliance global group (nasdaq: reli ) | 2022-02-06 |
benzinga has examined the prospects for many investor favorite stocks over the past week. last week's bullish calls included a popular online broker and a top chinese e-commerce company. a leading fintech company along with a canada-based cannabis producer were among the bearish calls seen. the s&p 500 and nasdaq composite both finished their best week of the year, driven by the strength of earnings reports, which extended the tech-led rebound following january's steep pullback. the s&p 500 closed the week 1.5% higher, and the nasdaq was up 2.4%. the dow, meanwhile, ended the week up 1.1%. these are the second weekly gains of 2022 for the major averages, after concerns over higher interest rates dragged stocks down across the board last month. benzinga continues to examine the prospects for many of the stocks most popular with investors. here are a few of this past week's most bullish and bearish posts that are worth another look. the bulls in " why peloton shares are soaring after hours ,"adam eckert writes about peloton interactive inc (nasdaq: pton ) soaring nearly 30% in friday's after-hours session following a report that e-commerce giant amazon.com inc (nasdaq: amzn ) has approached the connected fitness company about a potential acquisition. " waitlist for robinhood 'wenwallets' that can store dogecoin balloons to 2 million ," by shivdeep dhaliwal discusses the impact of the revelation that the waiting list for robinhood markets inc’s (nasdaq: hood ) “wenwallets” that can be used to store, buy and sell dogecoin (crypto: doge ) has swelled to 2 million. madhukumar warrier writes about why shares of u.s.-listed chinese tech companies like alibaba group holding limited (nyse: baba ) surged in hong kong on friday as the market resumed trading after the lunar new year holidays, in " why alibaba and tesla rivals xpeng, li auto are shooting up in hong kong today ." for additional bullish calls of the past week, check out the following: former executives at netflix and jack dorsey's block join discord ahead of latter's anticipated ipo disney+ to premiere controversial korean series 'snowdrop' after netflix success with 'squid game' why this chipmaker is seeing the highest interest on wallstreetbets today the bears " cathie wood sells $21m in paypal amid stock crash — loads up heavily in this fintech rival ," by rachit vats, looks at why cathie wood -led ark investment management rushed to cut most of its exposure in paypal holdings inc (nasdaq: pypl ) this week after the fintech company abandoned an ambitious growth plan. in " roblox responds to short seller's pedophilia accusation: 'wholly misleading, false and irresponsible' ," chris katje writes about a report published this week about gaming company roblox corp (nyse: rblx ) labeling the company as “the leading platform for pedophiles.” in " hexo's shareholder attempts hostile takeover, plans to nominate new board members ," jelena martinovic writes about concerned shareholder adam arviv announcing his plan to nominate five new independent directors at hexo corp (nasdaq: hexo ) with a goal of turning around the company's performance. for more bearish takes, be sure to see these posts: palantir-backed ev maker faraday future overhauls leadership structure in aftermath of short-seller allegations faang no more? facebook, netflix 'fracturing' away from elite tech group, says gene munster 'i just don't see any money to be made': why this investor sold out of starbucks stock keep up with all the latest breaking news and trading ideas by following benzinga on twitter. | 2022-02-05 |
on february 4, alibaba group holding ltd (nyse: baba ) filed a form f-6 to register 1b american depository shares to accommodate the issuance of additional ads upon the deposit of ordinary shares by current holders who have indicated to the company. citi analyst alicia yap says that while the ads registration does not indicate new equity issuance, it allows holders of ordinary shares to have the flexibility to sell their shares in ads than as common shares in hong kong exchange. related content: why alibaba's shares are sliding in hong kong today while tesla chinese rivals strike gains the analyst believes a portion of the new registration could suggest future shares under the employee equity incentive plan. however, it might also mean potential selling intention by softbank group corp (otc: sftby ) (otc: sftbf ) since it still owns 5.39 billion ordinary shares. yap reiterated a buy rating on alibaba with a $216 price target, suggesting an upside of 86%. price action: baba shares traded lower by 5.32% at $115.72 on the last check monday. | 2022-02-07 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. using the benzinga pro newsfeed, traders and investors can quickly search for recent news on a stock and make a decision about what a stock might be moving on today. peloton (nasdaq: pton ) - analysts responded to the company’s tuesday morning earnings report, news of a new ceo and restructuring plan. at least seven sell-side analysts adjusted their price targets on peloton wednesday morning – four analysts raised their targets while three analysts cut their targets. in addition, citron’s andrew left issued a report that speculated why peloton should buy blue apron (nasdaq: aprn ). gamestop (nyse: gme ) - the company cashed out $47 million worth of immutable x (crypto: imx) tokens shortly after announcing it had partnered with the blockchain platform for its upcoming nft marketplace. investors have been focused on a notable technical level around the $115 level. advanced micro devices (nasdaq: amd ) - daiwa capital upgraded the stock to a bu and raised the firm’s price target to $150. nvidia (nasdaq: nvda ) - the stock pulled back from recent highs over the $257 level following a tuesday report nvidia and its partner for the merger, softbank, terminated the deal to buy arm limited . tesla (nasdaq: tsla ) - shares continued to rebound over an important technical level at $900 wednesday morning. tesla had several news items overnight related to a lawsuit expected to be filed against the company in california and a small recall of about 27,000 tesla vehicles, but the stock didn’t seem to be reacting to either news item. disney (nyse: dis ) - the stock traded up ahead o earnings, expected out after the close wednesday. alibaba (nyse: baba ) - traders and investors await earnings; while alibaba reported third-quarter earnings on feb. 3, 2021, the company has not yet confirmed the earnings date for this year's third-quarter report. corsair gaming (nasdaq: crsr ) - the company reported better-than-expected earnings and gave strong guidance on tuesday afternoon. despite the report, shares traded down about 1% wednesday morning. tilray (nyse: tlry ) - the company’s sweetwater brewing company unit reported an expansion of its distribution across the state of california. an industry-wide report from alan brochstein’s new cannabis ventures showed “plunging prices push michigan cannabis sales 9% lower in january.” cvs health (nyse: cvs ) - the company reported strong earnings but gave fy22 guidance that was near the low end of the analyst consensus estimate. shares were down about 5%. | 2022-02-09 |
shares of u.s.-listed chinese tech companies traded notably higher in hong kong on wednesday, lifting the benchmark hang seng index firmly into positive territory. stock movement (+/-) xpeng inc. (nyse: xpev ) +8.3% alibaba group holding limited (nyse: baba ) +6.0% baidu inc. (nasdaq: bidu ) +5.0% jd.com inc . (nasdaq: jd ) +4.3% li auto inc. (nasdaq: li ) +2.8% tencent holdings limited (otc: tcehy ) +1.8% why is it moving? shares of alibaba and other tech companies rebounded after two days of losses that were seen as overdone. alibaba’s shares had fallen in the previous two sessions amid worries about the chinese e-commerce giant’s plan to register new american depositary shares (ads). chinese electric vehicle maker xpeng, seen as a tesla inc. (nasdaq: tsla ) rival, announced the inclusion of its shares in the shenzhen-hong kong stock connect program and noted that the move would help expand the company’s investor base. see also: how to buy xpeng motors (xpev) stock the hang seng index was up 2.0% at the time of writing, rebounding from sharp losses in the previous session. sentiment received a boost after china clarified the role of private capital in economic growth. the state-run people’s daily said in a commentary that china should “support and guide” the health development of capital, adding that steps to prevent its “barbaric growth” did not mean that china is against private capital, the south china morning post reported . meanwhile, the hong kong government on tuesday announced its most stringent social-distancing rules as part of its efforts to contain the fifth wave of coronavirus infections. this includes reducing the maximum number of people that can gather in public places from four to two people and the iaunch of a new “vaccine pass.” shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed notably higher in u.s. trading on tuesday after the major averages in the u.s. ended firmly in positive territory. read next: after 58,000 signatures and an elon musk billboard, biden finally recognizes tesla | 2022-02-09 |
shares of u.s.-listed chinese tech companies traded mixed in hong kong on thursday, while the benchmark hang seng index drifted into negative territory. stock movement (+/-) xpeng inc. (nyse: xpev ) +2.1% alibaba group holding limited (nyse: baba ) +1.3% baidu inc. (nasdaq: bidu ) +0.8% li auto inc. (nasdaq: li ) -1.9% tencent holdings limited (otc: tcehy ) -1.2% jd.com inc . (nasdaq: jd ) -0.2% alibaba’s shares extended gains from the previous session after significant losses recorded earlier in the week were seen as overdone. alibaba-backed video platform bilibili inc . (nasdaq: bili ) is looking to hire 1,000 new content moderators and closely monitor the health of its workers after the death of an employee due to alleged overwork, it was reported , citing reuters. chinese electric vehicle maker xpeng, seen as a tesla inc. (nasdaq: tsla ) rival, extended gains from the previous session after the company announced the inclusion of its shares in the shenzhen-hong kong stock connect program. shares of china evergrande group (otc: egrny ) rose almost 3%. the heavily indebted property developer said it plans to deliver 600,000 apartments in 2022 as well as clear its debt by fully restoring construction and sales activities, as per a report by reuters. see also: how to buy xpeng motors (xpev) stock why is it moving? the hang seng index was down almost 0.5% at the time of writing, after strong gains in the previous session. tighter restrictions imposed by the hong kong government to contain the fifth wave of coronavirus infections and its potential impact on the economy weighed on sentiment. several of hong kong’s biggest banks and brokers have shut their branches after the financial hub recorded 1,161 new coronavirus infections on wednesday, the south china morning post reported . shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed notably higher in u.s. trading on wednesday after the major averages ended higher. read next: ford ceo reacts to 4-year space journey of elon musk's personal tesla roadster with an indiana jones quote | 2022-02-10 |
shares of u.s.-listed chinese tech companies traded mostly lower in hong kong on friday, dragging the benchmark hang seng index into negative territory. stock movement (+/-) xpeng inc. (nyse: xpev ) -3.1% jd.com inc . (nasdaq: jd ) -1.3% alibaba group holding limited (nyse: baba ) -0.8% tencent holdings limited (otc: tcehy ) -0.8% baidu inc. (nasdaq: bidu ) -0.5% li auto inc. (nasdaq: li ) +1.6% the chinese tech stocks retreated, tracking the overnight losses by their u.s. peers following a spike in bond yields. shares of xpeng, seen as a tesla inc. (nasdaq: tsla ) rival, also fell despite the chinese electric vehicle maker saying it has struck strategic partnerships in the netherlands and sweden as part of its proposed expansion into more europe countries. meanwhile, the cyberspace administration of china (cac) said that a symposium it held with alibaba and other tech firms last month has given the industry a clearer picture of how to pursue development opportunities in a new regulatory landscape, it was reported , citing reuters. see also: how to buy xpeng motors (xpev) stock why is it moving? the hang seng index was down 0.4% at the time of writing, tracking the losses in global equities after u.s. inflation data at a four-decade high stoked concerns the federal reserve will increase interest rates more aggressively. meanwhile, china has issued new rules that will give property firms easier access to presale proceeds from residential projects that are put into escrow funds, it was reported by reuters. the move is expected to ease the liquidity crunch in the property sector. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed lower in u.s. trading on thursday after the major averages ended notably lower. read next: nio gets started on mass market sub-brand with planned annual production of 60,000 units: report | 2022-02-11 |
shares of u.s.-listed chinese tech companies traded lower in hong kong on monday, dragging the benchmark hang seng index i nto negative territory. stock movement (+/-) xpeng inc. (nyse: xpev ) -5.3% li auto inc. (nasdaq: li ) – -3.9% jd.com inc . (nasdaq: jd ) -3.2% alibaba group holding limited (nyse: baba ) -2.8% baidu inc. (nasdaq: bidu ) -2.3% tencent holdings limited (otc: tcehy ) -1.6% why is it moving? alibaba said friday it will announce its december quarterly results on thursday, feb. 24. investors will closely scrutinize how beijing’s regulatory crackdown and weak consumer spending in china impacted the chinese e-commerce giant’s earnings results. li auto — which competes with local rivals xpeng and nio inc. (nyse: nio ) as well as market leader tesla inc . (nasdaq: tsla ) — aims to double production to about 200,000 electric vehicles a year at its changzhou plant in china, it was reported on friday. see also: how to buy xpeng motors (xpev) stock the hang seng index was down 1.1% at the time of writing, amid worries about the surge in coronavirus infections in hong kong and its potential impact on the economy. a potential russian invasion of ukraine also weighed on sentiment. hong kong is considering imposing “district lockdowns” to cut off transmission chains after the financial hub reported about 2,000 suspected covid-19 cases on sunday, the south china morning post reported . shares of chinese companies closed lower in u.s. trading on friday after the major averages ended sharply lower amid concerns about a potential russian invasion of ukraine. read next: elon musk tweets jibe at nhtsa, says 'fun police' made him carry out latest tesla recall | 2022-02-14 |
shares of u.s.-listed chinese tech companies — led by the electric vehicle makers — traded somewhat higher in hong kong on tuesday, even as the benchmark hang seng index was muted. stock movement (+/-) li auto inc. (nasdaq: li ) +2.6% xpeng inc. (nyse: xpev ) +2.1% baidu inc. (nasdaq: bidu ) +0.6% jd.com inc . (nasdaq: jd ) +0.5% alibaba group holding limited (nyse: baba ) +0.3% tencent holdings limited (otc: tcehy ) -0.2% see also: how to buy xpeng motors (xpev) stock the macro factors: the hang seng index was down 0.5% at the time of writing, amid worries about wider lockdowns due to the surge in coronavirus infections in hong kong. concerns about a potential russian invasion of ukraine also weighed on the market. hong kong’s hospitals are struggling to cope with the surge in coronavirus cases and are short of beds, as per a report by the south china morning post . meanwhile, the people’s bank of china (pboc) injected rmb 100 billion ($15.7 billion) of liquidity into the banking system through its medium-term lending facility in order to support businesses and bolster economic growth, bloomberg reported . shares of chinese companies closed mixed in u.s. trading on monday after the major averages ended lower amid fears of a russian invasion of ukraine. companies in the news: byd co ltd. (otc: byddy ), backed by veteran investor warren buffett , has followed in the footsteps of rivals nio inc. (nyse: nio ) and xpeng by filing for the metaverse trademark, it was reported on monday. meanwhile, alibaba’s key backer and singapore’s state investment firm temasek holdings has trimmed its stake in the chinese e-commerce giant by $361.6 million to $1.08 billion and acquired a new stake in jd.com worth $12.2 million, according to a filing with the u.s. securities and exchange commission on monday. read next: tesla seeks to build 2nd chinese plant in senyang: report | 2022-02-15 |
shares of u.s.-listed chinese tech companies advanced in hong kong on wednesday, lifting the benchmark hang seng index into positive territory. stock movement (+/-) xpeng inc. (nyse: xpev ) +6.6% alibaba group holding limited (nyse: baba ) +3.6% baidu inc. (nasdaq: bidu ) +3.5% li auto inc. (nasdaq: li ) +3.4% jd.com inc . (nasdaq: jd ) +2.9% tencent holdings limited (otc: tcehy ) +1.2% see also: how to buy xpeng motors (xpev) stock the macro factors: the hang seng index was up 1.3% at the time of writing, as stocks attempted a rebound after three days of losses. china inflation eased in january, raising hopes for more policy easing measures by beijing. risk appetite also improved amid easing worries about russia-ukraine tensions china’s official consumer price index (cpi) rose by 0.9% in january from a year earlier, down from an increase of 1.5% in december, reuters reported , citing data from the national bureau of statistics. the country's producer price index (ppi) increased 9.1% in january from a year earlier, slower than a 10.3% gain in december. the data trailed analysts’ estimates. meanwhile, chinese president xi jinping said that the hong kong government should take up the “main responsibility” to stabilize and control the coronavirus pandemic as soon as possible, as per a report by bloomberg. companies in the news: alibaba has entered into a collaboration with computer hardware manufacturer canaan inc. (nasdaq: can ) on artificial intelligence (ai), it was reported , citing coindesk. cathie wood- led ark investment management has raised its exposure in xpeng by acquiring shares estimated to be worth $3.2 million. xpeng is the only other pure electric vehicle player besides tesla inc. (nasdaq: tsla ) in ark invest’s portfolio. shares of chinese companies closed higher in u.s. trading on tuesday after the major averages ended sharply higher on easing geopolitical concerns following news russia is pulling back some troops from the ukrainian border. read next: tesla facing increasing competition from these 2 carmakers: report | 2022-02-16 |
shares of u.s.-listed chinese tech companies traded notably lower in hong kong on tuesday, dragging the benchmark hang seng index into negative territory. stock movement (+/-) alibaba group holding limited (nyse: baba ) -4.5% xpeng inc. (nyse: xpev ) -3.8% li auto inc. (nasdaq: li ) -3.2% jd.com inc . (nasdaq: jd ) -2.8% baidu inc. (nasdaq: bidu ) -2.7% tencent holdings limited (otc: tcehy ) -2.0% see also: how to buy xpeng motors (xpev) stock the macro factors: the hang seng index was down 3.0% at the time of writing — extending losses to a third straight day — amid worries that rising tensions between russia and ukraine could escalate into a major war. russian president vladimir putin ordered troops into two breakaway regions of eastern ukraine after recognizing them as independent on monday, reuters reported . u.s. president joe biden responded to putin’s move by ordering sanctions against the separatist donetsk and luhansk regions. meanwhile, the u.n. security council is expected to address russia’s move in an emergency session requested by the u.s. and other countries. worries about a new round of regulatory restrictions on chinese tech companies also weighed on the market. china issued new guidelines asking meituan and other food delivery platforms to cut restaurant fees to help businesses in regions hit hardest by the covid-19 pandemic, it was reported on friday, citing bloomberg. companies in the news: alibaba is expected to provide further details about the impact of the chinese regulatory crackdown on its business when the e-commerce company reports its quarterly financial results on feb. 24. baidu is set to announce its quarterly results on march 1. tesla inc. (nasdaq: tsla ) rival xpeng has been in the news lately over cathie wood-led ark invest's frequent buys in the stock. shares of chinese companies closed notably lower in u.s. trading on friday after the major averages ended firmly negative amid fears russia will imminently invade ukraine. read next: russian financial markets collapse, us futures plummet over fears of ukraine invasion | 2022-02-22 |
shares of u.s.-listed chinese tech companies traded mostly higher in hong kong on wednesday, lifting the benchmark hang seng index into positive territory. stock movement (+/-) li auto inc. (nasdaq: li ) +3.2% jd.com inc . (nasdaq: jd ) +3.1% alibaba group holding limited (nyse: baba ) +1.3% tencent holdings limited (otc: tcehy ) +0.7% xpeng inc. (nyse: xpev ) -2.1% baidu inc. (nasdaq: bidu ) -1.0% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index was up 0.6% at the time of writing, as stocks attempted a rebound after three straight days of losses. investors continued to scoop up beaten-down technology stocks that have fallen in recent days amid fears of a new round of regulatory restrictions by beijing. meanwhile, china’s finance minister liu kun said the government will unveil bigger tax and fee cuts this year as well as increase payments to local governments to offset the fall in revenues amid slowing economic growth, it was reported by reuters. nevertheless, worries about the intensifying russia-ukraine crisis weighed on the market. u.s. president joe biden announced the first wave of sanctions against russia, claiming russian president vladimir putin’s actions in ukraine marked “the beginning of a russian invasion.” companies in the news: alibaba is scheduled to reports its financial results for the december quarter on thursday. beijing's regulatory crackdown and weak consumer spending in china are expected to negatively impact the e-commerce giant's results. the chinese government has told banks and state-owned enterprises to report their financial exposure to ant group, an affiliate of alibaba, it was reported on tuesday. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed sharply lower in u.s. trading on tuesday after the major averages extended losses from last week amid intensifying worries about a russian invasion of ukraine. read next: tesla model x plaid sets record as the fastest suv | 2022-02-23 |
some of the stocks that may grab investor focus today are: wall street expects moderna, inc. (nasdaq: mrna ) to report quarterly earnings at $9.90 per share on revenue of $6.79 billion before the opening bell. moderna shares fell 2.7% to $132.10 in after-hours trading. ebay inc. (nasdaq: ebay ) reported upbeat earnings for its fourth quarter, but issued weak outlook for the current quarter. ebay shares dipped 7.8% to $50.35 in the after-hours trading session. analysts are expecting alibaba group holding limited (nyse: baba ) to have earned $2.55 per share on revenue of $38.83 billion for the latest quarter. alibaba will release earnings before the markets open. alibaba shares fell 0.4% to $109.32 in after-hours trading. check out this: tesla and 4 other stocks sold by insiders find out what's going on in today's market and bring any questions you have to benzinga's premarket prep . netapp, inc. (nasdaq: ntap ) reported better-than-expected earnings for its third quarter, but issued weak earnings forecast for the fourth quarter. netapp shares tumbled 7.1% to $78.12 in the after-hours trading session. analysts expect dell technologies inc. (nyse: dell ) to report quarterly earnings at $1.95 per share on revenue of $27.44 billion after the closing bell. dell shares fell 0.6% to $56.78 in after-hours trading. choosing the best broker is an important part of being a successful trader or investor also check out: insiders buying incyte and 2 more stocks | 2022-02-24 |
shares of u.s.-listed chinese tech companies traded mostly higher in hong kong on wednesday, dragging the benchmark hang seng index into negative territory amid news that russia will launch an attack on ukraine. stock movement (+/-) xpeng inc. (nyse: xpev ) -5.7% alibaba group holding limited (nyse: baba ) -5.2% li auto inc. (nasdaq: li ) -5.1% baidu inc. (nasdaq: bidu ) -4.4% jd.com inc . (nasdaq: jd ) -3.6% tencent holdings limited (otc: tcehy ) -2.2% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index was down 2.7% at the time of writing, as investors monitored the intensifying crisis between russia and ukraine. russian president vladimir putin said in a public address early thursday morning that he has authorized a military operation in ukraine. the move comes even as the united nations security council was holding an emergency meeting in new york to discuss the escalating crisis. investors also turned cautious ahead of the release of quarterly earnings results by e-commerce giant alibaba and game developer netease inc. (nasdaq: ntes ) later today. companies in the news: alibaba abandoned a $1 billion fundraising plan for lazada after talks with potential investors bogged down over the southeast asian online mall’s valuation, it was reported , citing bloomberg. tesla inc. (nasdaq: tsla ) is planning to increase parts production capacity at giga shanghai to meet growing export demand, it was reported on wednesday, citing cnevpost. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed lower in u.s. trading on wednesday after the major averages fell to fresh lows for the year. read next: 6 etfs to watch as russia-ukraine crisis heats up | 2022-02-24 |
shares of u.s.-listed chinese tech companies traded mostly higher in hong kong on friday even as the benchmark hang seng index drifted lower after a positive start. stock movement (+/-) xpeng inc. (nyse: xpev ) +5.1% li auto inc. (nasdaq: li ) +3.9% baidu inc. (nasdaq: bidu ) +2.3% jd.com inc . (nasdaq: jd ) +1.8% alibaba group holding limited (nyse: baba ) +1.4% tencent holdings limited (otc: tcehy ) - -0.2% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index was down 0.6% at the time of writing, paring gains after opening higher following a rebound in global markets as investors shrugged off news regarding russia’s attack on ukraine. worries about the covid-19 pandemic in hong kong weighed on the market. the financial hub will conduct compulsory testing of its entire 7.4 million population three times in march and also maintain strict social distancing restrictions until mid to end-april, it was reported by bloomberg. companies in the news: alibaba’s shares are trading higher after the e-commerce giant reported better-than-expected earnings for the third quarter, while revenues missed estimates. game developer netease inc. (nasdaq: ntes ) reported fourth-quarter results that beat analysts’ expectations. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed mixed in u.s. trading on thursday even as the major averages ended higher after an initial sell-off. meanwhile, tesla inc. (nasdaq: tsla ) is planning to open a second plant in shanghai as early as next month to boost its production capacity in china to two million cars, it was reported, citing reuters. read next: how alibaba's cloud revenue stacks up against azure, aws, google cloud | 2022-02-25 |
benzinga has examined the prospects for many investor favorite stocks over the past week. last week's bullish calls included a streaming company and two leading tech giants. china's top e-commerce company and a software company specializing in big data were among the bearish calls seen. the russian invasion of ukraine was the central story for the markets last week, as the three major indexes saw a big turnaround on thursday. for the week, the dow was down 0.1%, the s&p 500 was up 0.8% and the nasdaq was up 1.1%. the dow on friday registered its biggest daily percentage gain since november 2020 with the market rebounding for a second day from the sharp selloff ahead of the invasion. investors dumped $3.6 billion into u.s. stock exchange-traded funds for the week through thursday, with more than $3 billion pouring into the spdr s&p 500 (nyse: spy ), according to factset. bitcoin also rebounded, gaining 1.6%, making it's way back toward the $40,000 mark. benzinga continues to examine the prospects for many of the stocks most popular with investors. here are a few of this past week's most bullish and bearish posts that are worth another look. the bulls " roku's stock plummets 22%: here's why some see a buying opportunity ," by chris katje looks at why a bank of america analyst has a buy rating on roku inc (nasdaq: roku ), but has lowered the price target for the stock from $290 to $235. in " why jim cramer likes upstart and this cybersecurity stock being featured on 'mad money' tonight ," adam eckert writes about why cnbc's jim cramer is excited about upstart holdings inc (nasdaq: upst ) and palo alto networks inc (nasdaq: panw ). in " will traders betting against apple and microsoft get burned? here's jon najarian's warning ," adam eckert writes that market rebellion co-founder jon najarian has a warning for short sellers of apple inc (nasdaq: aapl ) and microsoft corp (nasdaq: msft ). for additional bullish calls of the past week, check out the following: 'i'm waiting to catch somebody else's falling knife': why josh brown placed limit orders to buy these 4 stocks tesla rivals xpeng, li auto lead gainers chart as hong kong tech stocks post recovery coinbase q4 earnings highlights: big revenue beat, total retail trading volume of $177b the bears " cathie wood sells another $2.4m in palantir and $7.8m in this social media company on wednesday ," by shivdeep dhaliwal, looks at why cathie wood’s ark investment management continued selling shares of palantir technologies inc (nyse: pltr ) this week. adam eckert writes about why cerity partners' jim lebenthal is holding off on adding to his salesforce.com inc (nyse: crm ) position in, " 'i'm likely to add to it, but not anytime soon': why this salesforce investor is waiting to buy ." in " alibaba shares plunge after q3 earnings - read how it performed ," anusuya lahiri writes that alibaba group holding ltd (nyse: baba ) reported third-quarter fy21 revenue growth of 10% year-on-year, but missed the consensus estimate. for more bearish takes, be sure to see these posts: tesla loses top electric vehicle spot in consumer reports 2022 rankings: which ford ev came out on top? it looks like a bitcoin bear market, says glassnode why beyond meat shares are sliding today at the time of this writing, the author had no position in the mentioned equities. keep up with all the latest breaking news and trading ideas by following benzinga on twitter. | 2022-02-26 |
shares of u.s.-listed chinese tech companies traded lower in hong kong on monday, dragging the benchmark hang seng index into negative territory for a third straight day as the russia-ukraine crisis showed no signs of abating. stock movement (+/-) alibaba group holding limited (nyse: baba ) -3.2 % xpeng inc. (nyse: xpev ) -2.9% tencent holdings limited (otc: tcehy ) -1.9% li auto inc. (nasdaq: li ) -0.7% jd.com inc . (nasdaq: jd ) -0.2% baidu inc. (nasdaq: bidu ) -0.2% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index was down 1.4% at the time of writing, as investors assessed the impact of the harsher sanctions imposed by western nations on russia over its invasion of ukraine. the tougher sanctions also stoked inflation concerns, as higher prices for crude oil and other commodities could derail the economic recovery. the u.s., the united kingdom and other western nations announced saturday evening that they would expel certain russian banks from swift, the high-security network that connects thousands of financial institutions around the world. meanwhile, china’s stimulus has failed to boost the construction sector, with sales of equipment having slumped and unused commodities piling up in storage, as per a report by bloomberg. companies in the news: tesla inc. (nasdaq: tsla ) rival nio inc. (nyse: nio ) said its shares are expected to begin trading in hong kong on march 10 after the electric vehicle maker secured a key approval for a secondary listing in the financial hub following months of delays. nio’s local rivals xpeng and li auto had completed their dual-listing in hong kong last year. baidu — the largest internet search engine in china — is expected to report its financial results for the fourth quarter on tuesday, march 1. shares of chinese companies closed mixed in u.s. trading on friday even as the major averages extended gains from the previous session. read next: ev week in review: tesla bets big on china, lucid hit with recall woes, li auto surprises with quarterly profit, ford puts to rest spin-off talks and more | 2022-02-28 |
xpeng inc (nyse: xpev ) on tuesday reported higher monthly delivery numbers than those of the close local rival nio inc (nyse: nio ) but lagged behind those of li auto inc (nasdaq: li ). what happened: the guangzhou, china-based xpeng said it delivered 6,225 electric vehicles last month, a decline of 51.8% over january and a jump of 180% over feb. 2021. the ev maker's monthly delivery split was 3,537 p7 smart sports sedans, 2,059 p5 smart family sedans and 629 g3 and g3i smart suvs. xpeng said it resumed production at the zhaoqing plant in mid-february following a planned technology upgrade during the chinese new year holiday from late january to early february. “the upgrade enables the company to accelerate delivery of its significant order backlog in hand,” the company said. xpeng said it has sold 13,953 p5 smart family sedans since it was launched in sept. 2021. the company said it is carrying out a technology upgrade at its zhaoqing plant amid a downtime over the chinese new year holiday. the upgrade, it said, will help ramp up delivery of the significant order backlog carried over from 2021 and meet the growing demand as well. see also: nio deliveries fall 36.4% sequentially in february as production impacted by holidays china new year holiday lasted between jan. 31 and feb. 6 this year. xpeng on monday said yingjie chen, a senior investment director with alibaba group holdings (nyse: baba ), has joined the company’s board. the company’s stock was added to the shenzhen-hong kong and shanghai-hong kong stock connect programs, helping boost investor reach. how deliveries stack up: rival nio inc (nyse: nio ) delivered 6,131 electric vehicles in february, while li auto said deliveries came at 8,414 units. nio attributed the decline to production suspension while li auto said supply shortages hit production. see also: tesla, nio rival li auto aims to double production in 2022 why it matters: investors are closely watching the delivery numbers for china’s homegrown electric vehicle startups as they continue to ramp up deliveries and expand in local as well as overseas markets. xpeng already ships electric vehicles to norway and is eyeing further expansion in europe. see also: li auto outdoes rival nio in february deliveries but registers similar sequential decline besides local rivals, xpeng also sold more electric vehicles last month than german automaker volkswagen group ’s (otc: vwagy ) id series of electric vehicles but lower than tesla inc (nasdaq: tsla ). the company has found a backer in cathie wood-led ark invest, which has been building up a stake in the chinese ev maker this year, its only pure-play ev bet beside tesla. price action: xpeng shares closed 3.85% higher at $36.4 a share on tuesday. the stock is down 27.6% so far this year. photo: courtesy of xpeng | 2022-03-01 |
shares of u.s.-listed chinese tech companies — with the exception of chinese e-commerce giant alibaba group holding limited (nyse: baba ) — traded higher in hong kong on tuesday, even as the benchmark hang seng index drifted lower after a positive start. stock movement (+/-) li auto inc. (nasdaq: li ) +12.4% xpeng inc. (nyse: xpev ) +5.9% jd.com inc . (nasdaq: jd ) +2.8% tencent holdings limited (otc: tcehy ) +1.8% baidu inc. (nasdaq: bidu ) +0.1% alibaba group holding limited (nyse: baba ) -0.9% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index slipped into negative territory after opening higher and was flat at the time of writing. data showing china’s factory activity expanded in february and beat expectations failed to boost sentiment. the official manufacturing purchasing managers’ index (pmi) rose to 50.2 in february from 50.1 in january, the south china morning post reported , citing data from the national bureau of statistics. the caixin/markit manufacturing pmi rose to 50.4 in february from 49.1 in january, also beating expectations. worries about lockdowns in hong kong after the financial hub recorded more than 34,000 new cases on monday weighed on the market. hong kong is planning to enforce a lockdown to ensure that a mandatory covid-19 testing drive scheduled to be held later this month is effective, it was reported by bloomberg, citing local media. companies in the news: tesla inc. (nasdaq: tsla ) rival nio inc . (nyse: nio ) — which has secured approval for a secondary listing in hong kong — plans to report fourth-quarter earnings a month late due to additional time required to prepare for capital liquidity disclosures, it was reported on monday. xpeng and li auto will report monthly delivery numbers and baidu — the largest internet search engine in china —will report its financial results for the fourth quarter on tuesday. shares of chinese companies closed mixed in u.s. trading on monday even as the major averages also ended on opposite sides of the unchanged line. read next: analysis: can china help russia evade swift banking sanctions? | 2022-03-01 |
alibaba group ltd. (nyse: baba ) shares were trading lower friday alongside other u.s.-listed chinese tech companies as investors assessed the possible ripple effects from the escalating war between russia and ukraine. the stock continues to trade lower as the descending channel in which it has been trading in holds strong. alibaba was down 1.17% at $100.86 friday afternoon. see also: why alibaba and tesla rivals xpeng, li auto are crashing in hong kong today alibaba daily chart analysis the stock has fallen further in the descending channel and hasn't shown signs of turning around just yet. for the stock to make a reversal, it will need to break above the channel’s resistance and begin to form higher lows for a time. the stock trades below both the 50-day moving average (green) and the 200-day moving average (blue). this indicates bearish sentiment, and each of these moving averages may hold as an area of resistance in the future. the relative strength index (rsi) has fallen lower the past few weeks and now sits at 31. this is right near the border of the oversold region. if the rsi can hold in the oversold region, the stock may continue to see strong bearish momentum. what’s next for alibaba? alibaba hasn’t shown signs that it is ready for a reversal just yet. the stock continues to trade strongly lower in the downward trend. to see a reversal the stock will need to form higher lows and be able to break above the resistance in the channel. bullish traders are looking to see this break above the resistance level and see higher lows form. bulls would then like to see the stock cross above the moving averages for sentiment to turn more bullish. bearish traders are in control of the stock and would like to see it continue to trade within the channel. | 2022-03-04 |
china’s byd co (otc: byddf ) sold more than double electric vehicles than the combined delivery volumes of homegrown startups such as nio inc (nyse: nio ), xpeng inc (nyse: xpev ) and li auto inc (nasdaq: li ) in february amid chip shortages and production halts. what happened: the shenzhen-based byd sold 43,173 battery-powered electric vehicles in february, a jump of 451% year-on-year and a sales decline of about 7% over january. byd, which is backed by warren buffett-led berkshire hathaway inc (nyse: brk-a ) (nyse: brk-b ), reports sales volume on a monthly basis, unlike local rivals nio, xpeng and li auto, which report delivery numbers. nio, xpeng and li auto reported significant sequential declines last month, delivering 6,131 electric vehicles units, 6,225 and 8,414 units, respectively. the trio delivered 20,770 electric vehicles in february on a consolidated basis. see also: cathie wood is backing this chinese ev maker — here is how it fared against rivals in february deliveries nio and xpeng attributed the decline to production halts related to plant upgrades while li auto said supply shortages hit production. byd’s sales breakup: byd’s new energy vehicles sales jumped more than eight-fold to 88,283 units in february from a year ago. sequentially, it was a decline of 5%. see also: nio deliveries fall 36.4% sequentially in february as production impacted by holidays byd’s nev portfolio consists of cars, buses, and trucks. the nev category in china comprises plug-in electric vehicles eligible for public subsidies and includes plug-in hybrid electric vehicles and fuel cell electric vehicles besides the battery electric vehicles (bevs). byd's gas-powered vehicle sales fell 73.5% to 2,795 vehicles in february, from a year ago. sequentially it was a 24% rise. byd’s gas-powered vehicle contribution has shrunk significantly in recent months as the legacy automaker focuses on the greener options . byd, nio, and alibaba group holdings (nyse: baba )-backed xpeng compete with tesla inc (nasdaq: tsla ) and volkswagen group (otc: vwagy ) in china. byd had last year said it aims to sell 600,000 battery-operated electric vehicles and between 500,000 to 600,000 plug-in hybrids in 2022. tesla’s monthly delivery numbers in china, which are reported by third parties, are not yet known. price action: byd shares closed 4.9% lower at $29.1 a share on thursday. the stock is 17% year-to-date. | 2022-03-04 |
jack ma's alibaba group holding ltd (nyse: baba ) has begun mass production of smart electric vehicles, the register reports . alibaba's ev venture with state-owned automotive company saic, called im motors, will be ready for sales of the luxury sedan im l7 on 29 march. saic's factory in shanghai's lingang special area manufactures the vehicles for deliveries in april. the vehicle is over 5m in length with a 340hp single rear motor on the base version and another version sporting twin motors of 237hp and 340hp. the 93kwh battery will take the twin-motor version 615 km. the vehicle is said to park itself, drive autonomously on the highway, and semi-autonomously in the city. its smart driving systems consist of the nvidia jetson xavier chipset, 12 high-precision cameras, 5mm-wave radars, lidar, and 12 ultrasonic sensors. the car is a potential competitor to tesla inc (nasdaq: tsla ) model s in the chinese market, selling for ¥408,800 ($64,670) at a discount to tesla model s's u.s. pricing, which starts at $94,990. tesla also has operations within lingang, running a gigafactory there, conveniently called giga shanghai. alibaba and saic began developing smart cars in 2016. price action: baba shares traded lower by 0.14% at $100.46 on the last check monday. | 2022-03-07 |
shares of most u.s.-listed chinese tech companies slid in hong kong on monday, weighing on the benchmark hang seng index, as surging oil prices due to the escalating russia-ukraine conflict and a spike in domestic covid-linked deaths sapped risk appetite. stock movement (+/-) baidu inc. (nasdaq: bidu ) -5.6% jd.com inc . (nasdaq: jd ) -5.3% tencent holdings limited (otc: tcehy ) -2.8% alibaba group holding limited (nyse: baba ) -2.6% xpeng inc. (nyse: xpev ) -1.9% li auto inc. (nasdaq: li ) +1.1% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index opened sharply lower and was down 3.4% at the time of writing, extending losses from the previous session. u.s. crude futures surged 7.7% to $124.64 per barrel in asian trades monday, as supply fears ballooned due to russia's escalating war against ukraine. adding more pressure, hong kong reported the world’s highest fatality rate for covid-19, with more than 100 deaths recorded daily over the past four days, as per a report by the south china morning post. china on monday posted its biggest one-day tally of coronavirus infections since the wuhan outbreak at the start of the pandemic, according to a bloomberg report . the country on saturday set a target for slower economic growth of around 5.5% this year, compared to growth of 8.1% last year, reuters reported . companies in the news: nio inc. (nyse: nio ) began allowing test-driving of its et7 sedan on saturday as planned, with first deliveries to start at the end of this month, cnevpost reported on sunday. china’s u.s. ambassador qin gang on friday described tesla, inc's (nasdaq: tsla ) model s plaid as a "powerful model" that offered a "smooth ride" after being driven around in the car by ceo elon musk last week. shares of chinese companies closed lower in u.s. trading on friday after the major indexes extended losses from the prior session as russia intensified its attacks on ukraine. read next: elon musk's tesla throws open a dozen roles in germany as $5.5b giga berlin gets green light | 2022-03-07 |
shares of u.s.-listed chinese tech companies fell in hong kong on tuesday, weighing on the benchmark hang seng index, while alibaba group holding limited (nyse: baba ) bucked the trend to jump over 1%. stock movement (+/-) xpeng inc. (nyse: xpev ) -9.2% jd.com inc . (nasdaq: jd ) -4.6% baidu inc. (nasdaq: bidu ) -3.6% li auto inc. (nasdaq: li ) -3.3% tencent holdings limited (otc: tcehy ) -0.5% alibaba group holding limited (nyse: baba ) +1.6% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index pared gains after a positive start and was down 0.4% at press time, extending losses to a third straight day. the continued surge in the prices of crude oil and other commodities following russia’s invasion of ukraine stoked fears about inflation and slowing economic growth. u.s. crude futures gained 1.8% to $121.61 per barrel in asian trades tuesday. hong kong — which has the world’s highest fatality rate for covid-19 — is considering giving priority to reducing covid-19 deaths over a compulsory citywide test, bloomberg reported . companies in the news: alibaba has commenced mass production of smart electric vehicles at its venture partner saic's factory in shanghai, as per a report by the register. elon musk -led tesla inc. (nasdaq: tsla ) has extended the delivery dates for its most affordable model 3 electric sedan by four weeks in china, cnevpost reported. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed sharply lower in u.s. trading on monday after the major averages tumbled on worries about the impact of the surge in oil prices. read next: warner bros. snags china release for 'fantastic beasts: the secrets of dumbledore' | 2022-03-08 |
shares of u.s.-listed chinese tech companies slumped in hong kong on wednesday and weighed on the benchmark hang seng index, which extended losses to a fourth straight day. stock movement (+/-) alibaba group holding limited (nyse: baba ) -3.9% li auto inc. (nasdaq: li ) -3.5% tencent holdings limited (otc: tcehy ) -2.8% jd.com inc . (nasdaq: jd ) -1.7% baidu inc. (nasdaq: bidu ) -1.4% xpeng inc. (nyse: xpev ) -0.4% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index pared gains after opening higher and was down 2.1% at press time. worries about a surge in inflation due to the energy crisis stemming from the russia-ukraine war weighed on the market. u.s. president joe biden on tuesday announced a ban on russian oil imports. u.s. crude oil futures gained 2.1% to $126.41 per barrel in asian trades on wednesday. surging covid-19 cases in hong kong also dampened risk appetite, with a bloomberg report saying that it plans to open more isolation facilities for the elderly and has asked china to send medical teams. china’s producer price index (ppi) rose 8.8% year-on-year in february, but eased from a 9.1% growth in january, reuters reported , citing data from the national bureau of statistics . consumer prices climbed 0.9% in february, unchanged from a month earlier. companies in the news: morgan stanley analyst eddy wang lowered the brokerage's price target on e-commerce giant jd.com to $85 from $98, but kept an 'overweight' rating on its stock. the analyst noted that jd.com delivered much more resilient revenue growth than its peers in 2021. elon musk -led tesla inc. (nasdaq: tsla ) reported lower sales of china-made vehicles in february but was able to weather the industrywide softness fairly well compared to its chinese rivals. shares of chinese companies, including electric vehicle maker nio inc. (nyse: nio ), closed lower in u.s. trading on tuesday after the major averages ended in negative territory. read next: apple's 'peek performance' reveals: iphone se, versatile ipad air, powerful chip, mac studio, mlb and more | 2022-03-09 |
shares of u.s.-listed chinese tech companies traded higher in hong kong on thursday, lifting the benchmark hang seng index into positive territory after a four-day slump. stock movement (+/-) li auto inc. (nasdaq: li ) +9.8% xpeng inc. (nyse: xpev ) +8.3% baidu inc. (nasdaq: bidu ) +4.9% jd.com inc . (nasdaq: jd ) +1.6% tencent holdings limited (otc: tcehy ) +0.4% alibaba group holding limited (nyse: baba ) +0.2% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index opened higher and was up 1.3% at the time of writing. the overnight fall in crude oil prices and progress in russia-ukraine ceasefire talks helped boost sentiment. however, crude oil prices have recovered some of their overnight losses. u.s. crude futures gained 0.5% to $109.19 per barrel in asian trades thursday. hong kong’s ceo carrie lam has said the financial hub will indefinitely postpone a plan to test the entire population for covid-19 in march and prioritize vaccinating the elderly, bloomberg reported . companies in the news: shares of tesla inc. (nasdaq: tsla ) rival nio inc. (nyse: nio ) — which debuted in hong kong on thursday in a secondary listing — surged as much as 5.9% to hkd 169.5 after opening at hkd 160. the stock is currently trading at hkd 161.80. the hong kong listing of alibaba’s affiliated fintech ant group has been postponed indefinitely as the bankers remain concerned over china’s continued crackdown on the domestic tech sector, the information reported on wednesday. shares of chinese companies closed notably higher in u.s. trading on wednesday after the major averages ended in positive territory. read next: is gm looking to pose direct challenge to tesla, nio in china with a new 'incubated startup?' | 2022-03-10 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. tesla (nasdaq: tsla ) confirmed that deliveries of model y vehicles built at gigafactory berlin in germany are starting on march 22. on wednesday, the electric vehicle maker said it would raise the prices of its model y, and model 3 by $1,000 each. dte energy co. (nyse: dte ) reports chair gerry anderson will retire, naming president ceo jerry norcia as a replacement. amazon.com, inc. (nasdaq: amzn ) shares are trading higher after the company reported a 20-for-1 stock split and a $10 billion share buyback. alibaba group holding (nyse: baba ): u.s.-listed chinese tech companies tumbled in hong kong on friday, dragging the benchmark hang seng index into negative territory, on fears of increased scrutiny by american regulators and the escalating russia-ukraine war. shares of alibaba dropped 7.5% thursday. ionis pharmaceuticals (nasdaq: ions ): earlier this month, citigroup initiated coverage on ionis with a sell rating and a price target of $26. clover health investments corp (nasdaq: clov ) announced on tuesday its ceo, vivek garipalli, will present at barclays 2022 global healthcare conference on march 15. palantir technologies inc (nyse: pltr ): cathie wood-led ark investment management has shed all its holdings in palantir, marking one of the investment firm's swiftest exits from a stock it was bullish on just over a month ago. apple (nasdaq: aapl ): following the "peek performance" product event, morgan stanley says "apple remains our top pick in it hardware given durable fundamentals, predictable cash flows, additional 2022 product launches, and platform stability in an otherwise uncertain and volatile market backdrop." hasbro, inc. (nasdaq: has ) recently announced further activation of its purpose-driven brand blueprint strategy with an extensive lineup of new content and products across its iconic portfolio. shares are flat in friday’s premarket session. | 2022-03-11 |
shares of u.s.-listed chinese tech companies tumbled in hong kong on friday, dragging the benchmark hang seng index into negative territory, on fears of increased scrutiny by american regulators and the escalating russia-ukraine war. stock movement (+/-) jd.com inc . (nasdaq: jd ) -16.5% nio inc . (nyse: nio ) -11.6% xpeng inc. (nyse: xpev ) -9.8% alibaba group holding limited (nyse: baba ) -7.5% li auto inc. (nasdaq: li ) -5.9% tencent holdings limited (otc: tcehy ) -5.7% baidu inc. (nasdaq: bidu ) -5.6% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index opened sharply lower and was down 3.2% at press time. renewed regulatory concerns for chinese companies in the u.s. and news that peace talks between russia and ukraine’s foreign ministers failed on thursday led to a sell-off in the hong kong market. the u.s. securities and exchange commission has identified five chinese companies — including yum china holdings inc. (nyse: yumc ) — that could be delisted if they failed to comply with auditing requirements. in addition, china’s daily covid-19 infections exceeded 1,000 for the first time in two years on friday, bloomberg reported , citing data from the national health commission . companies in the news: jd.com reported better-than-expected earnings for the fourth quarter on thursday, while its revenue missed analysts’ estimates. electric vehicle maker xpeng said thursday it has started to accept customer reservations for its p5 sedan in denmark, the netherlands, norway and sweden. tesla inc . (nasdaq: tsla ) has raised prices of the model 3 and model y vehicles made at its giga shanghai plant by over $1,500, marking the first price hike for the elon musk -led company in china this year. shares of chinese companies closed notably lower in u.s. trading on thursday after the major averages ended in negative territory. read next: rivian takes a leaf out of tesla's playbook: here's its plan to hedge against nickel woes this yea | 2022-03-11 |
shares of several chinese stocks including alibaba group holding ltd (nyse: baba ), nio inc (nyse: nio ) and baidu inc (nasdaq: bidu ) are trading lower monday amid a covid-19 outbreak in the country which has caused some business operations to cease. what happened: major chinese cities are scrambling to reduce operations following what is reportedly the worst covid-19 outbreak in china since 2020. all businesses in shenzhen, the biggest city in the manufacturing-focused guangdong province, were told to suspend services and production or have employees work from home temporarily. shenzhen has only reported about 400 confirmed cases since the end of february, but the rapid increase in cases over the last few days has authorities rushing to contain the outbreak. shares of several other u.s.-listed chinese tech companies are falling. several stocks plunged in hong kong monday, pulling the hang seng index sharply lower. related link: alibaba and tesla rivals nio, xpeng plunge in hong kong today amid worries over new covid-19 restrictions in china what else happened: according to multiple reports, citing u.s. officials, russia has asked china to provide military equipment to aid in its invasion of ukraine. american officials have said there are signs that russia's military is running low on weaponry. russia also reportedly asked china for additional economic assistance to help push back against widespread sanctions, which have been imposed as a consequence of russia's military actions. tencent holdings ltd (otc: tcehy ) is also facing potential fines after its wechat pay mobile network reportedly violated anti-money-laundering rules and failed to comply with other business regulations. baba, nio, bidu price action: at publication time, alibaba was down 5.34% at $81.95, nio was down 3.61% at $15.49 and baidu was down 4.76% at $113.17. photo: courtesy of alibaba. | 2022-03-14 |
shares of u.s.-listed chinese tech companies tumbled in hong kong on monday and dragged the benchmark hang seng index sharply lower for a second straight day amid worries about a growing covid-19 outbreak in china. stock movement (+/-) xpeng inc. (nyse: xpev ) -16.9% li auto inc. (nasdaq: li ) -16.6% baidu inc. (nasdaq: bidu ) -14.9% jd.com inc . (nasdaq: jd ) -12.4% nio inc . (nyse: nio ) -12.3% alibaba group holding limited (nyse: baba ) -7.8% tencent holdings limited (otc: tcehy ) -4.5% see also: how to buy alibaba (baba) stock the macro factors: the hang seng index opened sharply lower and was down 3.8% at the time of writing. a government-imposed covid-19 lockdown in the southern chinese city of shenzhen added to worries about regulatory risks for chinese companies in the united states. uncertainty about the economic impact arising from the russia-ukraine war also stoked risk aversion. china has placed shenzhen into a lockdown for at least a week amid a surge in covid-19 infections and city authorities will carry out three rounds of city-wide mass testing next week, the south china morning post reported . companies in the news: apple inc . (nasdaq: aapl ) supplier hon hai precision industry co. ltd. (otc: hnhpf ) has halted production of iphones at its site in shenzhen due to the lockdown. didi global inc. (nyse: didi ) has halted plans to list its shares in hong kong after chinese regulators informed the ride-hailing giant that its proposals to prevent security and data leaks fell short of requirements, according to bloomberg . the central bank of norway held 13.75 million shares of electric vehicle maker nio worth $435.59 million at the end of december, it was reported friday. shares of chinese companies closed sharply lower in u.s. trading on friday after the major averages ended notably lower amid rising worries about the economic impact of the ongoing russia-ukraine war. read next: elon musk says tesla, spacex under 'significant' inflationary pressure for raw materials, logistics | 2022-03-14 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web by using the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. gamestop corp. (nyse: gme ): to beat market expectations on march 17 earnings, gamestop will need to report eps above 84 cents. this target is more than 37% lower than what the company reported for the same quarter last year. barclays ipath series b s&p 500 vix short-term futures (bats: vxx ): barclays has halted new share creations of the ipath pure beta crude oil etn (nyse: oil ) and the ipath series b s&p 500 vix short-term futures etn monday morning, becoming the latest exchange-traded products to close its doors to new cash in recent weeks. alibaba group holding ltd (nyse: baba ) shares of alibaba extended losses for a third straight day in hong kong on tuesday, hurt by fears of global repercussions if china was seen as supporting russia over its invasion of ukraine. amc entertainment (nyse: amc ) ceo adam aron announced a 22% stake in hycroft mining holding corp (nasdaq: hymc ) which holds the 71,000 acre hycroft mine in northern nevada. in addition, amc will receive an additional 23.4 million warrants in hycroft at $1.07 per share. tesla inc (nasdaq: tsla ) raised prices on all its vehicles after ceo elon musk said costs were increasing at the companies he runs. according to tesla’s website, the cheapest model 3 in the u.s. is now $46,990. ark innovation etf (nyse: arkk ): according to bloomberg data, the ark innovation fund has notched four straight weeks of inflows totaling $850 million, despite the fund being down more than 35% year-to-date. nio inc (nyse: nio ): shares of several chinese stocks including nio are trading lower in tuesday’s premarket session amid a covid-19 outbreak in the country which has caused some business operations to cease. apple inc. (nasdaq: aapl ): kevin o'leary , known as "mr. wonderful," said apple is “starting to look interesting.” apple’s stock monday lost close to 3% to settle at $150.62. | 2022-03-15 |
chinese e-commerce giant alibaba group holding ltd . (nyse: baba ) and electric vehicle maker nio inc. (nyse: nio ) are seeing high interest on reddit’s r/wallstreetbets forum as of early tuesday. what happened : alibaba is seeing the third-highest interest on the forum with 205 mentions, while nio is the tenth-most discussed stock with 56 mentions, data from quiver quantitative showed. alibaba is also the top trending ticker on stocktwits , while nio is trending in the sixth spot. see also: how to buy nio (nio) stock why it matters : alibaba’s mmc business division is planning to lay off about 20% of its employees, it was reported on monday, citing pandaily. in addition, jpmorgan analyst alex yao has downgraded alibaba alongside several other chinese tech stocks and called them “uninvestable” over the next six to 12 months due to rising geopolitical and macro risks. shares of alibaba and nio extended losses to a third straight day in hong kong on tuesday, hurt by fears of global repercussions if china was seen as supporting russia over its invasion of ukraine. the covid-19 outbreak in china also weighed on the stocks. price action : alibaba shares closed 10.3% lower in monday’s regular trading session at $77.76 and further lost 0.1% in the after-hours session to $77.65. nio shares closed 12.3% lower in the regular trading session at $14.10 and further lost almost 2.1% in the after-hours session to $13.81. read next: cathie wood raises exposure in tesla chinese rival backed by warren buffett | 2022-03-15 |
shares of chinese companies including alibaba group holding ltd (nyse: baba ) and nio inc (nyse: nio ), are trading higher wednesday following a chinese state media report indicating china's financial stability and development committee urged market stability measures and mentioned cooperation with u.s. regulators. according to chinese state media, regulators from both countries are progressing toward a plan for u.s.-listed chinese stocks. the report suggests the chinese government supports the listing of chinese companies on foreign exchanges and that its crackdown on tech companies could come to an end sometime soon. adrs of chinese companies have been slaughtered over the last year amid increasing regulatory scrutiny, which has led to delisting fears. bilibili inc (nasdaq: bili ) and pinduoduo inc (nasdaq: pdd ) jumped more than 30% wednesday morning, while baidu inc (nasdaq: bidu ) climbed about 15%. related link: why alibaba, jd and tesla rivals li auto, nio are rebounding big-time in hong kong today baba, nio price action: at publication time, alibaba was up 20.4% at $92.43 and nio was up 19.8% at $17.92. photo: courtesy of alibaba. | 2022-03-16 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. alibaba group holding ltd (nyse: baba ): chinese stocks are seeing some relief wednesday as china’s top administrative authority said it would work to stabilize chinese stock markets and boost economic growth in the first quarter with “concrete actions,” state-run xinhua news agency reported. nio inc (nyse: nio ): hong kong’s hang seng index soared 9.1% & china’s shanghai composite +3.5% after reports of progress with u.s. regulators on a cooperation plan for chinese stocks listed in the u.s. gamestop (nyse: gme ) is up 3.88% in wednesday’s premarket session ahead of earnings thursday. to beat market expectations, gamestop will need to report eps above 84 cents. amc entertainment (nyse: amc ) ceo adam aron announced a 22% stake in hycroft mining holding corp (nasdaq: hymc ), which holds the 71,000-acre hycroft mine in northern nevada. in addition, amc will receive an additional 23.4 million warrants in hycroft at $1.07 per share. hycroft mining corp, which owns a mine in northern nevada, was on the verge of bankruptcy before amc's investment. now, it plans to raise up to $500 million by selling shares in the open market over time. tesla (nasdaq: tsla ) raised prices by 3% to 5% in both the u.s. and china. this is tesla’s second round of price increases in the last week. advanced micro devices (nasdaq: amd ) shares are trading 2.49% higher after cowen's recommendation of amd's larger competitor, nvidia (nasdaq: nvda ), which cowen named a "top pick" in the industry based on projections the company could earn $28 a share in 2030, and book $140 billion in revenues. cowen's report notes that "we make nvidia our new top pick, along with amd." barclays ipath series b s&p 500 vix short-term futures (bats: vxx ) shares soared for a second day on tuesday, a day after british bank barclays said it had suspended the sales and issuance of the shares due to capacity constraints. | 2022-03-16 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. gamestop (nyse: gme ) reports quarterly earnings at the closing bell, and is likely to report earnings of 84 cents per share on revenue of $2.22 billion. alibaba group holding ltd (nyse: baba ) chinese stocks continue to see a relief rally, as the chinese government said it supports the listing of businesses overseas and that its crackdown on technology companies should end soon, according to chinese state media. netflix inc (nasdaq: nflx ) the streaming giant is testing a new feature that will require subscribers to spend more money when they share their password with people they do not reside with, according to a blog post by chengyi long , netflix’s director of product innovation. tesla inc (nasdaq: tsla ) in response to the recent covid-19 outbreak in shanghai, tesla is attempting to keep production going at its shanghai factory while complying with china's covid-19 precautions. china’s national health commission announced on saturday that another 1,524 locally transmitted coronavirus cases had been detected in provinces across mainland china. amc entertainment (nyse: amc ) amc's recent investment in hycroft mining corp (nasdaq: hymc ) is a relatively "safe" investment, according to ceo adam aron , as it compares to the $1.8 billion in liquidity that amc holds currently. hasbro inc. (nasdaq: has ) shares of hasbro rose 2.19% to $89.95 wednesday. apple inc. (nasdaq: aapl ) may not launch new products with the new mini-led screen this year, prominent analyst ming-chi kuo has predicted. kuo’s comments suggest that due to cost, apple may launch only updated versions of its existing mini-led products such as the 12.9-inch ipad pro this year and not new products with mini-led displays. advanced micro devices (nasdaq: amd ) shares traded 2.91% higher yesterday, after cowen's recommendation of amd's larger competitor, nvidia (nasdaq: nvda ), which cowen named a "top pick" in the industry based on projections the company could earn $28 a share in 2030, and book $140 billion in revenues. cowen's report notes that "we make nvidia our new top pick, along with amd." | 2022-03-17 |
shares of u.s.-listed chinese tech companies extended strong gains in hong kong on thursday after beijing vowed to ensure stability in the stock market and support overseas listings of domestic companies. stock movement (+/-) baidu inc. (nasdaq: bidu ) +16.8% jd.com inc . (nasdaq: jd ) +11.0% alibaba group holding limited (nyse: baba ) +9.1% li auto inc. (nasdaq: li ) +7.3% tencent holdings limited (otc: tcehy ) +5.6% xpeng inc. (nyse: xpev ) +5.4% nio inc . (nyse: nio ) +4.6% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index was up 6.2% at the time of writing, extending a strong recovery from the previous session after sharp losses earlier in the week. a meeting of the state council’s financial stability and development committee said authorities should work towards the stability of hong kong’s financial market and take measures to prevent risks in the real estate sector, chinese state media reported . meanwhile, the hong kong monetary authority raised its benchmark rate by 25 basis points to 0.75% after the u.s. federal reserve on wednesday announced its widely expected decision to raise interest rates for the first time since december of 2018. companies in the news: electric vehicle maker nio secured the top rank ahead of rivals such as li auto , xpeng and tesla inc. (nasdaq: tsla ) in a study that ranks car quality in china, it was reported wednesday, citing automotive website autohome. hsbc holdings plc (nyse: hsbc ) has acquired a virtual plot of land in the sandbox metaverse to engage with its sports-focused users. apple inc. (nasdaq: aapl ) supplier hon hai precision industry co ltd (otc: hnhpf ), also known as foxconn, resumed partial operations and production at its two shenzhen campuses after implementing covid-19 measures. shares of chinese companies closed sharply higher in u.s. trading on wednesday as the major averages ended notably higher following the federal reserve's monetary policy announcement. read next: nio reverses course after sell-off: will ev stock rally ahead of earnings? | 2022-03-17 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. gamestop (nyse: gme ) shares cratered 8.92% in premarket trading on friday after gamestop reported quarterly losses of $1.86 per share. the company also reported quarterly sales of $2.25 billion, which beat the analyst consensus estimate of $2.22 billion by 1.5%. this is a 6% increase over sales of $2.12 billion in the same period last year. the company is expected to launch its long-awaited nft marketplace in july 2022. tesla inc (nasdaq: tsla ) in response to the recent covid-19 outbreak in shanghai, tesla is attempting to keep production going at the factory while complying with china's covid-19 precautions. china’s national health commission announced on saturday that another 1,524 locally transmitted coronavirus cases had been detected in provinces across mainland china. amc entertainment (nyse: amc ) shares of amc are down 1.18% in premarket trading friday in sympathy with gamestop, as gamestop posted surprise losses for the quarter. hycroft mining holding corporation (nasdaq: hymc ) rose 13% to $1.56 in premarket trading. hycroft mining’s amended 13d filing from mudrick capital showed the fund raised stake from 24.4 million shares to 37.7 million shares. alibaba group holding ltd (nyse: baba ) great hill capital chairman thomas hayes told yahoo finance: "i think you're going to see china stocks rip for the next eight or 12 months into the china national congress elections,” in a bullish nod to alibaba stock. amazon.com, inc (nasdaq: amzn ) amazon announced it closed on the $8.5-billion acquisition of mgm studios, giving new movie titles to amazon’s prime video service, stoking further competition with streaming giants like netflix (nasdaq: nflx ), and disney+ (nyse: dis ). zim integrated shipping services ltd (nyse: zim ) the stock's short percent of float has risen 102.76% since its last report. the company recently reported that it has 5.35 million shares sold short, which is 8.09% of all regular shares that are available for trading. based on its trading volume, it would take traders 1.4 days to cover their short positions on average. dte energy co (nyse: dte ) a recent analysis by propublica highlights the extent in which dte (michigan’s largest power company) power shutoffs affect the poorest cities in the state. it is reported that dte disconnected customers 80,600 times in 2020 and more than doubled that number in 2021. its 178,200 disconnections for nonpayment last year were its highest annual total since 2016. | 2022-03-18 |
benzinga has examined the prospects for many investor favorite stocks over the past week. last week's bullish calls included a chinese e-commerce giant and an electric vehicle maker. a leading streaming service platform along with a natural gas production company were among the bearish calls seen. it was the best week since november 2020 for the major u.s. stock indexes, as oil prices dropped below recent highs and the fed raised interest rates inline with investors' expectations. the s&p 500 ended the week up by 6.2%, while the dow jones industrial average gained 5.5% and the nasdaq composite rose by 8.2%. the gains this week came after two weeks of losses for the s&p 500 and five weeks of declines for the dow jones industrial average. benzinga continues to examine the prospects for many of the stocks most popular with investors. here are a few of this past week's most bullish and bearish posts that are worth another look. the bulls "' that's a buy signal': why kevin o'leary just bought alibaba, tencent and meituan stock ," by adam eckert, says that o'shares etfs chairman kevin o'leary took advantage of this week's flash sale and bought shares of tencent, alibaba group holding ltd (nyse: baba ) and meituan ( otc: mpngf). in " mark zuckerberg confirms nfts are coming soon to instagram ," samyuktha sriram writes that meta platforms inc (nasdaq: fb ) ceo mark zuckerberg said that the company is working on bringing non-fungible tokens (nfts) to its social media platform, instagram, in the "near term." " nio reverses course after sell-off: will ev stock rally ahead of earnings? ," by shanthi rexaline, notes that after an extended lean run, nio, inc. (nyse: nio ) shares hit a trough tuesday, weighed down by multiple factors, but the stock now appears to be making a bullish turn. for additional bullish calls of the past week, check out the following: is boeing ready for takeoff? why this investor bought more stock if starbucks stock gets 'anywhere close to $80' pete najarian plans to deploy this strategy dan ives sees 'bright green light' buying opportunity for apple, microsoft and google the bears in " why this apple analyst is pessimistic about the 2022 mobile market ," shivdeep dhaliwal writes that long-time apple inc (nasdaq: aapl ) analyst ming-chi kuo is not upbeat about the 2022 mobile market. " can netflix return to mid-to-high teens revenue growth? these 2 tests will tell us ," by shanthi rexaline, notes that netflix inc (nasdaq: nflx ) has seen a marked slowdown in net subscriber additions amid competition from other streaming services. an analyst at keybanc capital markets says there are a few tests to determine whether the company's pre-covid strength will return. in " why wells fargo is turning bearish on southwestern energy ," priya nigam explains why a wells fargo analyst downgraded his rating on southwestern energy company (nyse: swn ) from equal weight to underweight, saying it may take time for investors to appreciate the company's debt reduction efforts. for more bearish takes, be sure to see these posts: us congressman proposes new taxes on oil companies months after buying tesla shares: what investors should know donald trump lashes out at media companies for dropping oan news: here's the latest is disney's new 'star wars'-inspired hotel turning into a flop? keep up with all the latest breaking news and trading ideas by following benzinga on twitter. | 2022-03-19 |
enphase energy inc (nasdaq: enph ) is known as a global leader in solar energy solutions, and over the past five years, delivered beaming returns for traders and investors. since march 2017, enphase energy stock’s 5-year return has outperformed several of the world’s most popular cryptocurrencies, along with ev, entertainment and tech stocks: bitcoin (crypto: btc ), tesla inc (nasdaq: tsla ), walt disney co (nyse: dis ), apple inc (nasdaq: aapl ), microsoft corporation (nasdaq: msft ), ford motor company (nyse: f ) and alibaba group holding ltd - adr (nyse: baba ). enphase energy is a global energy technology company. the company delivers smart, easy-to-use solutions that manage solar generation, storage and communication on one platform. the company's micro inverter technology primarily serves the rooftop solar market and produces a fully integrated solar-plus-storage solution. enphase energy was incorporated in 2006 and is headquartered in fremont, california. here's how the returns break down from march 2017 to present : bitcoin is up from $1,092.00 to $41,585.60 for a return of 3,708.21% tesla is up from $52.63 to $905.39 for a return of 1,620.29% disney is up from $112.14 to $140.30 for a return of 25.11% apple is up from $35.16 to $163.98 for a return of 366.38% microsoft is up from $64.98 to $300.43 for a return of 362.34% ford is up from $11.62 to $16.86 for a return of 45.09% alibaba is flat from $108.04 to $108.30 for a return of 0.25% and finally, enphase energy is up from $1.24 to $184.52 for a return of 14,780.65% also see: this oil company has a better 1-year return than tesla, lucid, bitcoin, ethereum and dogecoin | 2022-03-20 |
shares of several of the u.s.-listed chinese tech companies are trading significantly higher in hong kong on monday — while the benchmark hang seng index trimmed early gains — as investors hoped for policy support measures from beijing. stock movement (+/-) nio inc . (nyse: nio ) +9.2% xpeng inc. (nyse: xpev ) +5.4% alibaba group holding limited (nyse: baba ) +4.0% li auto inc. (nasdaq: li ) +2.6% tencent holdings limited (otc: tcehy ) +1.0% jd.com inc . (nasdaq: jd ) +0.6% baidu inc. (nasdaq: bidu ) -3.7% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index pared initial gains and was up about 0.3% at press time. china on monday kept its one-year loan prime rate (lpr) unchanged at 3.7%, in line with analysts’ expectations, reuters reported . the lpr saw two consecutive cuts in december and january . investors are now hopeful for policy support measures by beijing. companies in the news: electric vehicle maker nio said it does not currently plan to raise prices for its electric vehicles, even as its rivals such as tesla inc (nasdaq: tsla ), xpeng and byd co. (otc: byddy ) raised prices last week due to inflationary pressures. shares of heavily indebted property developer china evergrande group (otc: egrnf ) and its other units were suspended from trading in hong kong on monday, but no reasons were given for the trading halt. walt disney company (nyse: dis ) said that its shanghai resort and parks will be temporarily closed from monday, march 21, due to the covid-19 outbreak in the city. shares of chinese companies closed higher in u.s. trading on friday as the major averages extended their rally to a fourth straight session. read next: elon musk among celebrities to testify in johnny depp and amber heard's $100m court battle | 2022-03-21 |
tencent music entertainment group - adr (nyse: tme ) shares are trading higher by 10.0% at $5.11 after the company reported better-than-expected fourth-quarter eps results. the positive price action could also be related to strength in chinese stocks and alibaba group holding ltd - adr (nyse: baba ) for the session. tencent music entertainment reported quarterly earnings of 8 cents per share which beat the analyst consensus estimate of 7 cents. the company reported quarterly sales of $1.19 billion which missed the analyst consensus estimate of $1.23 billion by 3%. this is a 7% decrease over sales of $1.28 billion in the same period last year. tencent music entertainment highlighted that online music paying users reached 76.2 million, increasing by 36.1% year-over-year. the company says, on a sequential basis, the number of online music paying users grew by 5.0 million. paying ratio was 12.4%, up from 11.2% in the third quarter of this year and 9.0% in the fourth quarter of last year. see also: is tesla 'about to have a big run'? why jim cramer says ev stock could lead the market higher tencent music entertainment is an online music entertainment platform in china. its platform comprises online music, online karaoke and music-centric live streaming services, supported by content offerings, technology and data. tencent music entertainment has a 52-week high of $32.25 and a 52-week low of $2.95. | 2022-03-22 |
shares of several chinese stocks, including tal education group (nyse tal), new oriental education & tech grp (nyse: edu ) and gaotu techedu inc (nyse gotu), are trading higher on continued volatility. last week's news of china's financial stability and development committee urging market stability measures along with strength in alibaba group holding ltd - adr (nyse: baba ) are helping lift chinese equities. alibaba shares are trading sharply higher after the company raised its buyback program... read more shares of several chinese stocks have also seen ongoing volatility in recent sessions amid a covid-19 outbreak in the country which has caused some business operations to cease. shares of asia-pacific stocks have also seen volatility in march as russia-ukraine tensions weigh on trader and investor sentiment. see also: is tesla 'about to have a big run'? why jim cramer says ev stock could lead the market higher tal education is trading higher by 12.6% at $3.08. new oriental education is trading higher by 9.9% at $1.32. gaotu techedu is trading higher by 4.7% at $2.25. | 2022-03-22 |
shares of several chinese stocks, including pinduoduo inc - adr (nasdaq: pdd ), are trading higher on continued volatility. last week's news of china's financial stability and development committee urging market stability measures along with strength in alibaba group holding ltd - adr (nyse: baba ) are helping lift chinese equities. alibaba shares are trading sharply higher after the company raised its buyback program... read more shares of several chinese stocks have also seen ongoing volatility in recent sessions amid a covid-19 outbreak in the country which has caused some business operations to cease. shares of asia-pacific stocks have also seen volatility in march as russia-ukraine tensions weigh on trader and investor sentiment. see also: is tesla 'about to have a big run'? why jim cramer says ev stock could lead the market higher pinduoduo also reported fourth-quarter financial results monday. the company reported quarterly sales of $4.27 billion which missed the analyst consensus estimate of $4.76 billion by 10%. this sales figure represents a 5% increase over sales of $4.07 billion the same period last year. pinduoduo also reported quarterly earnings of 92 cents per share which beat the analyst consensus estimate of 35 cents. pinduoduo is the third-largest e-commerce platform by gross merchandise volume in china. pinduoduo is trading higher by 19.18% at $47.66. pinduoduo has a 52-week high of $152.06 and a 52-week low of $23.21. | 2022-03-22 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. gamestop (nyse: gme ) shares of gamestop rallied 30% in regular trading and 20% in after-hours trading tuesday after gamestop chairman ryan cohen purchased an additional 100,000 shares , bringing his total ownership to 11.9%. shares are up 8.33% in premarket trading. amc entertainment (nyse: amc ) shares of amc jumped 14.04% yesterday amid an increase in retail investor interest. the stock could be seeing a short squeeze, as amc has a total share float of 515 million, of which 101.33 million shares are sold short, representing 19.68% of shares. tesla inc (nasdaq: tsla ) ceo elon musk opened tesla’s first european manufacturing facility tuesday in berlin, germany. the company sees the facility producing 500,000 vehicles annually. shares rose 6.83% on the news. ipath pure beta crude oil (nyse: oil ) crude oil creeping back toward the $115 levels caused the barclays etn to spike to highs of $34.57 yesterday. shares are up 3.58% in premarket trading. advanced micro devices inc (nasdaq: amd ) amd closed $49.68 short of its 52-week high of $164.46. the company introduced its instinct mi210 pcie accelerator card for data centers, servers and workstations that need compute performance. the instinct mi210 is based on one cdna 2 compute gpu and carries 64gb of hmb2e memory. alibaba group holding ltd (nyse: baba ) alibaba recently raised its buyback program: the new share repurchase program increases buybacks from $15 billion to $25 billion and will be effective over a two-year period through march 2024. tilray brands, inc. (nasdaq: tlry ) rose 9.2% to $6.20 in premarket trading after gaining around 7% on tuesday. koss corporation (nasdaq: koss ) rose 14% to $10.97 in premarket trading after jumping around 30% on tuesday, trading in sympathy with gamestop. apple inc (nasdaq: aapl ) apple purchased u.k. fintech startup, credit kudos , in a deal valued around $150 million. the startup provides clients with scores about consumers’ financial health. | 2022-03-23 |
shares of u.s.-listed chinese tech companies traded notably higher in hong kong on wednesday following upbeat quarterly earnings results from companies such as smartphone maker xiaomi corp. and biotechnology company wuxi biologics. stock movement (+/-) nio inc . (nyse: nio ) +9.3% alibaba group holding limited (nyse: baba ) +6.6% xpeng inc. (nyse: xpev ) +4.8% baidu inc. (nasdaq: bidu ) +3.5% tencent holdings limited (otc: tcehy ) +2.5% jd.com inc . (nasdaq: jd ) +1.7% li auto inc. (nasdaq: li ) +0.9% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index was up 1.6% at the time of writing, extending gains from the previous session. companies in the news: xiaomi reported better-than-expected earnings results for the fourth quarter and said it will buy back hkd 10 billion ($1.3 billion) of its own shares, bloomberg reported . following similar steps taken by rivals such as xpeng and tesla inc. (nasdaq: tsla ), electric vehicle maker li auto has raised the price of li one , its only model currently on sale. meanwhile, technology conglomerate tencent holdings is slated to report its fourth-quarter results later today. property developer kaisa group holdings ltd. has followed in the footstep of china evergrande group (otc: egrnf ) by saying it will likely not be able to publish its audited 2021 results by the end of march as the audit work has not been completed. shares of chinese companies closed notably higher in u.s. trading on tuesday as the major averages ended firmly in positive territory. read next: tesla, xpeng, li auto, nio, byd: how ev prices are looking like in china with latest hikes | 2022-03-23 |
shares of u.s.-listed chinese tech companies traded mixed in hong kong on thursday after tech conglomerate tencent holdings limited (otc: tchey ) reported weak earnings results for the fourth quarter. stock movement (+/-) xpeng inc. (nyse: xpev ) +4.1% li auto inc. (nasdaq: li ) +2.6% baidu inc. (nasdaq: bidu ) +0.7% tencent holdings limited (otc: tcehy ) -3.1% alibaba group holding limited (nyse: baba ) -0.4% jd.com inc . (nasdaq: jd ) -0.2% nio inc . (nyse: nio ) -0.1% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index opened lower, but was up 0.2% at press time. the index closed 1.2% higher in the previous session. weak earnings from tencent and an overnight spike in crude oil prices weighed on the market. however, oil reversed course and was down 0.7% to $114.1 per barrel in asian trades. companies in the news: tencent reported a 25% fall in net income for the fourth quarter from the prior-year period, while revenues grew 8%. tencent’s growth has been negatively impacted by china’s crackdown on the tech sector. alibaba and tencent have tightened rules for chinese citizens seeking to purchase non fungible tokens (nfts) on the companies’ digital marketplaces. the u.s. securities and exchange commission has added chinese social media platform weibo corp. (nasdaq: wb ) to the list of companies on its holding foreign companies accountable act, raising fears about the company’s potential delisting. shares of chinese companies closed mixed in u.s. trading on wednesday as the major averages ended in negative territory. tencent closed 5.4% lower, according to data from benzinga pro. read next: why this tesla analyst thinks this 'one really big item' could be part of master plan part 3 | 2022-03-24 |
shares of u.s.-listed chinese tech companies traded notably lower in hong kong on friday amid lingering worries about u.s.-delisting fears of dual-listed chinese companies. stock movement (+/-) alibaba group holding limited (nyse: baba ) -4.1% nio inc . (nyse: nio ) -3.9% xpeng inc. (nyse: xpev ) -3.8% baidu inc. (nasdaq: bidu ) -3.5% jd.com inc . (nasdaq: jd ) -2.9% li auto inc. (nasdaq: li ) -2.5% tencent holdings limited (otc: tcehy ) -1.8% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index opened lower and was down 1.6% at the time of writing. the index closed 0.9% lower on wednesday. the u.s. public company accounting regulator said thursday that recent media speculation about a deal that would stop hundreds of chinese companies from being kicked off american stock exchanges was “premature,” reuters reported . investors also remained cautious ahead of the announcement of food delivery giant meituan’s (otc: mpngy ) fourth-quarter earnings results later today. companies in the news: jd.com’s shares fell after the e-commerce giant said that its logistics unit, jd logistics , will raise $398 million through a sale of 150.5 million shares to outside investors. further, jd.com said it will spend $692 million to purchase 261.4 million new shares in jd logistics in order to retain its 63.5% stake in the unit. electric vehicle maker nio reported better-than-expected earnings results for the fourth quarter on thursday, helped by volume growth and an expansion in vehicle margin. meanwhile, the first batch of nio's premium sedan model — the et7 — rolled off the production line at the company's hefei manufacturing plant on thursday. shares of chinese companies closed mixed in u.s. trading on thursday even as the major averages ended notably higher. nio closed 0.6% higher in the regular trading session, but closed 2.2% lower in the after-hours session, according to data from benzinga pro . read next: why analyst expects tesla rival xpeng to deliver solid q4 earnings on monday | 2022-03-25 |
shares of u.s.-listed chinese tech companies traded mixed in hong kong on monday, while the hang seng index recovered after a weak start. stock movement (+/-) tencent holdings limited (otc: tcehy ) +3.8% alibaba group holding limited (nyse: baba ) +3.6% baidu inc. (nasdaq: bidu ) +1.6% nio inc . (nyse: nio ) -3.3% xpeng inc. (nyse: xpev ) -3.4% jd.com inc . (nasdaq: jd ) -2.1% li auto inc. (nasdaq: li ) -0.8% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index was up 1.3% at press time, following a weak start. the index closed almost 2.5% lower on friday. the market slipped in early trading after authorities in shanghai ordered a phased lockdown of the financial hub from monday to curb the spread of a covid-19 outbreak, the south china morning post reported . upbeat fourth-quarter revenue from food delivery giant meituan (otc: mpngy ) on friday — despite china’s regulatory crackdown — boosted sentiment. companies in the news: meituan’s shares surged more than 14% after the company reported 30.6% year-over-year growth in fourth-quarter revenues to rmb 49.5 billion ($7.9 billion). however, net loss for the quarter widened to rmb 5.3 billion ($840 million) from rmb 2.24 billion a year ago. cathie wood-led ark invest etf initiated a position in nio on friday, buying 420,057 shares in the chinese electric vehicle maker — estimated to be worth $8.36 million. meanwhile, xpeng is scheduled to announce its fourth-quarter earnings results later today. tesla inc. (nasdaq: tsla ) has suspended production at its shanghai factory for at least a day after the city started the lockdown, bloomberg reported . shares of chinese companies closed lower in u.s. trading on friday even as the major averages ended mixed. nio closed 9.4% lower in the regular trading session at $19.92 and further lost 0.6% in the after-hours session to $19.80, according to data from benzinga pro . read next: why tesla model y rival volkswagen id.4 is the only used electric vehicle to cost more than new ones in us | 2022-03-28 |
shares of u.s.-listed chinese tech companies rose in hong kong on tuesday as the benchmark hang seng index extended gains to a second straight session. stock movement (+/-) nio inc . (nyse: nio ) +4.6% tencent holdings limited (otc: tcehy ) +2.3% jd.com inc . (nasdaq: jd ) +2.3% alibaba group holding limited (nyse: baba ) +1.7% baidu inc. (nasdaq: bidu ) +1.7% li auto inc. (nasdaq: li ) +1.2% xpeng inc. (nyse: xpev ) +0.2% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index opened higher and was up 0.5% at press time. the index closed 1.3% higher on monday. the market extended gains as investors went bargain-hunting for beaten-down technology stocks. risk appetite also received a boost amid hopes of a peace deal between russia and ukraine. companies in the news: electric vehicle maker nio, a tesla inc. (nasdaq: tsla ) rival, confirmed that deliveries of its flagship et7 sedan commenced on monday. xpeng on monday reported a narrower-than-expected loss for the fourth quarter on strong revenue growth. electric vehicle maker byd co. (otc: byddf ), backed by veteran investor warren buffett’s berkshire hathaway inc. (nyse: brk-a ) (nyse: brk-b ), is scheduled to report its fourth-quarter results later today. shares of most chinese companies ended higher in u.s. trading on monday after the major averages ended in positive territory amid hopes about a peace deal between russia and ukraine. nio closed 6.5% higher in the regular trading session at $21.20, but lost 0.7% in the after-hours session to $21.05, according to data from benzinga pro . read next: tesla bull cathie wood increased stake in this warren buffett-backed chinese ev maker on monday | 2022-03-29 |
shares of u.s.-listed chinese tech companies mostly traded higher in hong kong on wednesday as the benchmark hang seng index rose for a third straight day. stock movement (+/-) xpeng inc. (nyse: xpev ) +6.6% nio inc . (nyse: nio ) +6.0% li auto inc. (nasdaq: li ) +1.7% jd.com inc . (nasdaq: jd ) +1.4% tencent holdings limited (otc: tcehy ) +1.3% alibaba group holding limited (nyse: baba ) -0.4% baidu inc. (nasdaq: bidu ) -1.8% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index opened higher and was up 1.3% at the time of writing. risk appetite received a boost following news about encouraging progress in the cease-fire talks between russia and ukraine. the index rebounded after briefly sliding into negative territory following a report by the wall street journal that china is planning new regulations on the country’s $30 billion live-streaming industry, including a daily cap on digital tipping. companies in the news: alibaba led a $60 million funding round for nio- backed augmented reality glasses maker nreal, it was reported on wednesday, citing cnbc. nio , a tesla inc. (nasdaq: tsla ) rival, has reportedly delayed the launch of its es7 electric sports utility vehicle by a month due to spike in covid-19 cases and the likely cancellation of the beijing auto show to be held in april. troubled property developer china evergrande group (otc: egrnf ) said its shares will remain suspended from trading on the stock exchange “until further notice.” shares of chinese companies closed higher in u.s. trading on tuesday after the major averages closed in positive territory. nio closed 3.1% higher in the regular trading session at $21.88, but lost almost 0.5% in the extended session to $21.77, according to data from benzinga pro . read next: 'tesla made many workers millionaires:' elon musk takes swipe at uaw after $2.2m scam at labor union | 2022-03-30 |
chinese e-commerce giant alibaba group holding limited (nyse: baba ) led a $60 million funding round for nio inc. (nyse: nio )-backed augmented reality glasses maker nreal, cnbc reported on wednesday, citing the startup. what happened: beijing-based nreal said it will use the series c+ funding to increase r&d spending and accelerate its expansion into new markets this year — including its home market of china, as per the report. the start-up currently sells its line of ar glasses — nreal light and nrealair — in a few markets such as japan, south korea, spain, and the u.s. see also: how to buy alibaba (baba) stock why it matters: nreal has raised a cumulative $200 million in financing in the past year. apart from nio, some of the company’s strategic investors include streaming service iqiyi inc . (nasdaq: iq ) and short-video platform kuaishou technology . last year, nreal and nio announced ar glasses tailored for electric vehicles. alibaba’s investment in nreal comes amid a regulatory crackdown on tech companies in china. it was reported in december last year that alibaba has registered a new company named yuanjing shengsheng in beijing to test the gaming potential of the metaverse. alibaba’s dingtalk workplace app announced plans in january to launch ar glasses that can be used to conduct meetings in the metaverse. price action: alibaba shares closed 1.4% higher in tuesday’s regular trading session at $116.69 and further rose almost 0.1% in the after-hours session to $116.80, according to data from benzinga pro . read next: tesla, nio rival xpeng is targeting 25% gross margin: key takeaways from q4 earnings call photo courtesy: nreal | 2022-03-30 |
shares of u.s.-listed chinese tech companies traded notably lower in hong kong on thursday, dragging the benchmark hang seng index into negative territory after three straight days of gains. stock movement (+/-) li auto inc. (nasdaq: li ) -5.5% xpeng inc. (nyse: xpev ) -4.4% baidu inc. (nasdaq: bidu ) -4.1% jd.com inc . (nasdaq: jd ) -1.9% alibaba group holding limited (nyse: baba ) -1.5% tencent holdings limited (otc: tcehy ) -1.5% nio inc . (nyse: nio ) -0.9% see also: how to buy alibaba (baba) stock the macro factors: the benchmark hang seng index was down 0.8% at the time of writing. the index drifted lower after data showed that china’s manufacturing activity contracted in march for the first time in five months. china is grappling with a surge in covid-19 cases that have impacted production across industries. china’s manufacturing purchasing managers' index (pmi) fell to 49.5 in march from 50.2 in february, xinhua reported , citing data from the national bureau of statistics. a reading below 50 indicates contraction. meanwhile, u.s. securities and exchange commission chairman gary gensler quelled speculation about a deal with his chinese counterpart to retain the listing of about 200 chinese companies on american stock exchanges, as per a report by bloomberg. companies in the news: cathie wood -led ark investment management on wednesday trimmed its stake in tesla inc. (nasdaq: tsla ) and acquired more shares in byd co. (otc: byddf ) — the chinese electric vehicle maker backed by veteran investor warren buffett’s berkshire hathaway inc. (nyse: brk-a ) (nyse: brk-b ). apple inc. (nasdaq: aapl ) is exploring new suppliers of memory chips for iphones — including potentially its first chinese provider — following production disruption at a key japanese partner, bloomberg reported . shares of chinese companies closed mixed in u.s. trading on wednesday after the major averages ended lower. nio closed almost 1.3% higher in the regular trading session at $22.16 and further rose 0.5% in the after-hours session to $22.26, according to data from benzinga pro . read next: elon musk invokes eminem to counter sec order over his tweets | 2022-03-31 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. gamestop corp (nyse: gme ) shares were trading 14.95% higher during friday’s premarket session as the company filed an 8k thursday outlining a proposed 3-to-1 stock split. nvidia corporation (nasdaq: nvda ) recently made the time magazine 100 most influential companies list in the titan's category, hailed for “powering tech’s evolution.” shares are unaffected by the news. amc entertainment holdings inc (nyse: amc ) shares were trading 3.37% higher during friday’s premarket session, trading in sympathy with gamestop on the news of the proposed stock split. tesla inc (nasdaq: tsla ) shares were trading 0.59% higher during friday’s premarket session as bloomberg reports that tesla reported record global vehicle deliveries for the first quarter of 2022. alibaba group holding ltd - adr (nyse: baba ) shares were trading 7.54% higher in friday’s premarket session were trading higher friday morning following reports indicating chinese authorities are preparing to give u.s. regulators full access to auditing reports of most of the companies listed on american exchanges. palantir technologies inc (nyse pltr ) announced a partnership with carahsoft technolgy corp. to offer u.s. government customers the ability to take advantage of specific applications within palantir’s offerings that produce outcomes aligned to specific use cases and goals. apple inc (nasdaq: aapl ): an unconfirmed report tweeted by appleinsider shows the tech company may be entering a collaboration with lg display on the development of a foldable ipad and macbook that would use ultra-thin glass. tilray inc (nasdaq: tlry ): marijuana stocks hang in the balance as investor interest falls on the prospect of marijuana legalization at the federal level. bath & beyond inc. (nasdaq: bbby ) announced that it will release its fourth-quarter earnings report before the opening bell on april 13. | 2022-04-01 |
each trading day features hundreds of headlines and press releases. benzinga pro is a source for traders to see the latest news on the overall market and also on individual tickers. here is a look at the stocks that were searched for most on benzinga pro for the month of march. 1. spdr s&p 500 trust (nyse: spdr ) ytd return: -5.5% 52-week range: $403.38 to $479.98 price: $451.42 for the third straight month in 2022, the popular etf that mirrors the s&p 500 was the most searched for ticker on benzinga pro. this shouldn’t come as too big of a surprise, as the ticker is often linked to market moving news and broad industry coverage. the invasion of ukraine by russia was among the biggest topics in march, and spy was often used as a ticker to discuss how the market was reacting to the latest updates on the war. 2. tesla inc (nasdaq: tsla ) ytd return: -9.8% 52-week range: $546.98 to $1,243.49 price: $1,082.18 tesla once again ranks second, a place it has held for three straight months. the electric vehicle giant was the most searched for ticker on benzinga pro in 2021 before giving way to the spdr s&p 500 etf. tesla is expected to post quarterly earnings in april, which should once again make the stock among the most searched for in the next month. 3. nvidia corp (nasdaq: nvda ) ytd return: -11.7% 52-week range: $134.59 to $346.47 price: $265.84 nvidia came in third place for searches for the second straight month. the company ranked seventh in january and was not among the ten most searched tickers in 2021, making it a bit of a surprise to rank so high. the company reported earnings in mid-february and has been one of the most talked about technology stocks, likely increasing the number of searches on benzinga pro. 4. mullen automotive (nasdaq: muln ) ytd return: -51.5% 52-week range: $0.52 to $15.89 price: $2.82 electric vehicle company mullen may be one of the biggest surprises on the list, as the stock was not among the top 20 searched for tickers in february. the stock has been a trender on social media and also received some positive news mentions by media sites. recently, mullen was named as a winner at benzinga’s listmaker series as a top electric vehicle company. 5. apple inc (nasdaq: aapl ) ytd return: -4.2% 52-week range: $122.25 to $182.94 price: $174.34 apple ranked fifth for the second straight month. the company hosted its highly anticipated peek performance event earlier in the month. analysts reacted favorably to the new product lineup. in the month of march, apple also scored an academy award in the “best picture” category for its “coda” movie and announced it would stream major league baseball games on fridays on appletv+. 6. imperial petroleum (nasdaq: impp ) ytd return: -48.9% 52-week range: $0.40 to $9.70 price: $1.33 international shipping transportation company imperial petroleum was one of many small cap oil related stocks that saw sharp movement in the month of march on the heels of the russia-ukraine conflict. the stock was also mentioned as a short squeeze candidate, with a sharp rise in short interest and a cost to borrow of over 150% in mid-march. 7. moderna inc (nasdaq: mrna ) ytd return: -24.8% 52-week range: $122.01 to $487.49 price: $176.74 biotech company moderna saw shares trade higher from the $150 level to over $188 in the month of march. the company also saw searches pick up on benzinga pro, going from 19th place in february to seventh place in march. 8. amc entertainment holdings (nyse: amc ) ytd return: -12.0% 52-week range: $8.31 to $72.62 price: $23.34 movie theater company amc reported fourth quarter financial results in early march. the company beat street consensus estimates for revenue and earnings per share. amc’s fourth quarter revenue was the highest quarterly total in two full years. amc was the 13th most searched ticker in february, marking a gain of five places on the leaderboard. amc was the third most searched ticker in 2021. 9. advanced micro devices (nasdaq: amd ) ytd return: -28.1% 52-week range: $72.50 to $164.46 price: $ 108.08 semiconductor stock advanced micro devices was the only company on the top 10 list to experience a drop from the previous month. the company was the sixth most searched ticker in the month of february and the tenth most searched ticker in 2021. the company reported quarterly earnings in february, which could have led to increased interest in the name. 10. hycroft mining holding corp (nasdaq: hymc ) ytd return: +248.9% 52-week range: $0.28 to $4.37 price: $2.16 one of the biggest gainers in searches in the month of march was gold and silver mining company hycroft mining, which saw amc entertainment announce an investment in the company in the month. hycroft mining ceo diane garrett also joined benzinga for an interview on “benzinga live” in march. related link: 10 most searched tickerrs on benzinga pro in 2021 honorable mention: the following tickers ranked as the next 10 most searched tickers on benzinga pro for the month of march. zscaler inc (nasdaq: zs ) meta platforms (nasdaq: fb ) indonesia energy corporation (nyse: indo ) invesco qqq etf (nasdaq: qqqq ) alibaba group holding (nyse: baba ) amazon.com (nasdaq: amzn ) camber energy (nyse: cei ) gamestop corp (nasdaq: gme ) costco wholesale corporation (nasdaq: cost ) cyren ltd (nasdaq: cyrn ) key takeaways: the top three searched tickers in march remained the same from the month of february. three new names jumped from outside the top 20 into the top 10, one more than in february, when the list gaining two newcomers from outside the top 20. ford motor co (nyse: f ) and digital world acquisition corp (nasdaq: dwac ) ranked in the top 10 in january and the top 20 in february, and have now fallen out of the top 20 for searches on benzinga pro. the 11th to 20th top searched-for tickers featured only three names from the previous top 20, suggesting that april could see an even bigger mix of companies searched for on benzinga pro. it’s also worth noting that popular retail stock and one of the biggest stories of 2021, gamestop, moved into the top 20 for searches thanks potentially to reporting earnings in march and/or to an increase in interest once again in “meme stocks.” could gamestop crack the top ten in april? | 2022-04-02 |
the first three months of 2022 are in the books, bringing the first quarter to a close. investors were faced with many macro events, including rising inflation and the war in ukraine. benzinga was a source for many investors, providing access to news and trading tools for investors and traders alike. each month, benzinga provides readers with a look at what the 20 most searched tickers were on the company's platform. for reference, here are the top ten most searched tickers in the months of january , february and march from previous coverage. here’s a look back at the stocks and etfs that were the most searched on benzinga pro in the first three months of 2022. 1. spdr s&p 500 trust (nyse: spy ) ytd return: -5.5% 52-week range: $403.38 to $479.98 price: $451.42 the etf covering the s&p 500 index was the most searched ticker on benzinga pro for the first quarter. after ranking as the eighth most searched ticker on benzinga in 2021, the spdr s&p 500 trust topped the searches for each of the first three months in 2022. the ticker is often used to provide macro news and market outlooks to investors. 2. tesla inc (nasdaq: tsla ) ytd return: -9.8% 52-week range: $546.98 to $1,243.49 price: $1,082.18 tesla, which was the most searched ticker on benzinga pro in 2021, ranked second in each of the first three months of 2022. the company saw the opening of a gigafactory in berlin and increased interest in electric vehicles with rising oil and gas prices. tesla is also considering a stock split, which sent shares higher in the first quarter. the electric vehicle giant is expected to report quarterly earnings in april and will open a gigafactory in texas in april, two events that could continue to see high interest in the name. 3. nvidia corp (nasdaq: nvda ) ytd return: -11.7% 52-week range: $134.59 to $346.47 price: $265.84 nvidia has climbed up the list and ended the quarter in third place. nvidia was the 12th most searched ticker on benzinga pro in all of 2021. the stock was the seventh most searched ticker in january before climbing to third place in both february and march. 4. apple inc (nasdaq: aapl ) ytd return: -4.2% 52-week range: $122.25 to $182.94 price: $174.34 apple ranked fourth among top searched tickers in the first quarter. the company was ranked in the top five in each of the first three months, with a third place finish in january and fifth place in february and march. the company unveiled new products at its peak performance event in march and also won an academy award in the “best picture” category for “coda.” 5. meta platforms (nasdaq: fb ) ytd return: -33.6% 52-week range: $185.82 to $384.33 price: $224.85 social media platform company meta platforms has seen shares fall in the first quarter due to disappointing earnings and some investors questioning the company’s decision to devote capital and resources to the metaverse sector. meta platforms was the thirteenth most searched ticker on benzinga in 2021 and was not in the top 10 in the month of january. a strong fourth place showing in february and coming in 12th place in march helped boost the ticker to the top five for the first quarter. related link: top 10 most searched tickes on benzinga pro in 2021 6. advanced micro devices (nasdaq: amd ) ytd return: -28.1% 52-week range: $72.50 to $164.46 price: $108.18 semiconductor stock advanced micro devices ranked 10th among tickers for 2021 and has found its way into the top ten for the first quarter of 2022 with rankings of 12th, 6th and 9th respectively in the first three months of 2022. 7. invesco qqq etf (nasdaq: qqq ) ytd return: -9.9% 52-week range: $316.00 to $408.71 price: $361.85 the second etf to make the list is one dedicated to tracking the nasdaq 100 index, providing exposure to some of the largest technology and high-growth stocks. the etf ranked ninth in both january and february for searches before dropping to 14th place in march. 8. amazon.com inc (nasdaq: amzn ) ytd return: -4.0% 52-week range: $2,671.45 to $3,772.08 price: $3,271.20 ecommerce giant amazon reported quarterly earnings in february and announced a 20-for-1 stock split for shares. the company was among the top 20 most searched tickers in each of the first three months of 2022 to land in eighth place for the first quarter. the highest amazon ranked was seventh in the month of february. 9. amc entertainment holdings (nyse: amc ) ytd return: -12.0% 52-week range: $8.31 to $72.62 price: $23.34 movie theater company amc reported fourth quarter financial results in early march, with revenue and earnings per share both coming in ahead of street consensus estimates. amc has seen its ranking among most searched tickers improve in each of the first three months of 2022 going from 15th place to 13th place to 8th place in the first three respective months of 2022. 10. moderna inc (nasdaq: mrna ) ytd return: -24.8% 52-week range: $122.01 to $487.49 price: $176.74 biotech company moderna cracked the top ten searched tickers with a strong seventh place ranking in the month of march. the ticker ranked in the top 20 in both january and february at 16th and 19th place respectively. honorable mentions : the following tickers ranked as the next 10 most searched tickers on benzinga pro for the first quarter of 2022. microsoft corp (nasdaq: msft ) ford motor co (nyse: f ) alibaba group holding (nyse: baba ) digital world acquisition corp (nasdaq: dwac ) sofi technologies (nasdaq: sofi ) imperial petroleum (nasdaq: impp ) mullen automotive (nasdaq: muln ) peloton interactive (nasdaq: pton ) vinco ventures inc (nasdaq: bbig ) lucid group (nasdaq: lcid ) key takeaways: of the top ten ranked tickers, only four (spy, tsla, nvda, aapl) ranked among the top ten searched in each of the first three months. meta platforms was the only top ten searched ticker that cracked the top ten for the quarter that didn’t rank in the top 20 in all three months. of the honorable mention names, ford, alibaba, digital world acquisition and peloton all ranked in the top twenty searched tickers for two of the three months. the other six ranked in the top twenty for only one month, with several ranking in the top ten for a one-month period. several stocks that appeared in the top ten in previous months failed to crack the top ten searched tickers for the quarter, including affirm holdings (nasdaq: afrm ) and hycroft mining holding (nasdaq: hymc ). four of the most searched tickers in 2021 on benzinga pro failed to crack the top twenty searched tickers in the first quarter of 2022. this list includes nio inc (nyse: nio ), gamestop corp (nyse: gme ), palantir technologies (nyse: pltr ) and ocugen inc (nasdaq: ocgn ). disclosure: author is long sofi and lcid. | 2022-04-03 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. gamestop corp (nyse: gme ) shares spiked last week amid retail investor interest, dominated by the news of the company seeking shareholder approval for a potential stock split. the stock has since settled into its previous trading range. twitter inc (nyse: twtr ) shares are up 20.38% in monday’s premarket session as tesla ceo elon musk disclosed the purchase of 73,486,938 shares of twitter, constructing a 9.2% passive stake in the social media giant. tesla inc (nasdaq: tsla ) the company recently reported it produced and delivered over 300,000 vehicles in the first quarter of 2022, up 70% from the same quarter last year. amc entertainment inc (nyse: amc ) ceo adam aron looks to deliver maximum shareholder value by making a series of “distressed investments” similar to the hycroft mining (nasdaq: hymc ) deal. a tweet, last week from charles gasparino of fox business said aron is considering up to six new deals valued at around $500 million. advanced micro devices, inc (nasdaq: amd ) announced its acquisition of software development company pensadao systems in a deal valued at $1.9 billion. the acquisition is expected to enhance amd’s data center capacity. alibaba group holding ltd - adr (nyse: baba ) shares are trading 4.49% higher in monday’s premarket session as news of a potential rule change would allow chinese companies to comply with u.s. regulators, lowering the risk of delisting. nio inc - adr (nyse: nio ) is trading in sympathy with alibaba as the news of potential compliance with u.s. regulators has delivered relief to chinese stocks. ford motor company (nyse: f ) will deliver its first-quarter earnings report on april 27. analysts expect earnings of 43 cents per share for a decline of 51.69% year-over-year. revenue estimates are $30.56 billion, 8.93% lower than the same period last year. | 2022-04-04 |
here is a quick roundup of five stories you may have missed from the weekend. zelenskyy makes grammys appearance: ukraine president volodymyr zelenskyy virtually appeared at the 2022 grammy awards. in a taped appearance, the leader of the war-torn country appealed to those present to “fill the silence” of the russian invasion of the eastern european country with their music. tesla clocks 1 million deliveries: electric vehicle maker tesla inc. (nasdaq: tsla ) both produced and delivered over a million electric vehicles in the past financial year — between april 2021 and march 2022. warren likens bitcoin to air: sen. elizabeth warren (d-mass.) equated buying bitcoin (crypto: btc ) to buying air in a recent interview with nbc. hong kong markets strike optimistic chord: the hong kong markets began the new trading week on a high note, with popular stocks like alibaba holding ltd. (nyse: baba ) and nio inc. (nyse: nio ) clocking handsome gains. movie makers suffer from will smith fallout: the act of will smith slapping chris rock at the oscars last week is spelling trouble for movies that count the ‘wild wild west’ actor among their cast. netflix inc. (nasdaq: nflx ) and apple inc. (nasdaq: aapl ) are reportedly among the companies that stand to lose due to this fallout. what else: among other things, you would want to catch up with the cryptocurrency markets today , ev week in review (or why this warren buffett-backed automaker is pulling the plug on ice vehicles), and learn what to expect in the biotech sector in the week ahead. don’t miss out on editor’s favorite story of week: thanks to rise in copper prices, the penny is worth more than 1 cent: here's how much | 2022-04-04 |
benzinga’s “daily brief on trending tickers” highlights top-searched tickers from around the web and uses the benzinga pro platform to highlight recent news items possibly impacting those stocks. the data on the trending tickers is compiled from a list of most-discussed tickers on the popular reddit forum wallstreetbets. twitter inc (nyse: twtr ) elon musk will accept a role on twitter’s board of directors as investor interest remains high on the social media platform. musk disclosed a 9.2% stake in the company, making him the largest individual shareholder. gamestop corp. (nyse: gme ): meme stocks rallied last week on the news of a proposed gamestop 3-to-1 stock split. the video game retailer is expected to release earnings on june 15. in the last year, the company has posted an average loss of $5.23 per share. advanced micro devices, inc. (nasdaq: amd ): the chip-making giant recently completed a $1.9-billion acquisition of software firm pensanado systems in an effort to expand its data center capacities. tesla inc (nasdaq: tsla ): while the shanghai giga factory remains closed due to a covid-19 outbreak, tesla is set to have its grand opening of giga texas on april 7. amc entertainment holdings inc (nyse: amc ) ceo adam aron looks to deliver maximum shareholder value by making a series of “distressed investments” similar to the hycroft mining (nasdaq: hymc ) deal. a tweet last week from charles gasparino of fox business said aron is considering up to six new deals valued at around $500 million. aterian inc (nasdaq: ater ) stock rose 35.70% over monday’s trading session with no news released on the company, suggesting a potential short squeeze. alibaba group holding ltd - adr (nyse: baba ) shares are trading 1.45% lower in tuesday’s premarket session as news of a potential rule change would allow chinese companies to comply with u.s. regulators, lowering the risk of delisting. ford motor company (nyse: f ) will deliver its first-quarter earnings report on april 27. analysts expect earnings of 43 cents per share for a decline of 51.69% year-over-year. revenue estimates are $30.56 billion, 8.93% lower than the same period last year. | 2022-04-05 |
cnbc global government debt expected to swell to $71 trillion in 2022 according to a new report, global sovereign debt is expected to climb to a whopping $71.6 trillion in 2022, while fresh borrowing is also anticipated to remain high, writes cnbc. according to the report, global government debt jumped 7.8% in 2021 to $65.4 trillion, while debt servicing costs dropped to $1.01 trillion, an effective interest rate of just 1.6%. however, debt servicing costs are set to rise significantly in 2022, climbing around 14.5% on a constant-currency basis to $1.16 trillion. teens spending more on shopping, but concerned about russia-ukraine war, reveals piper report according to piper sandler’s biannual “taking stock with teens” report, teenagers are spending more and shifting their shopping habits, even as they worry about growing economic uncertainty, writes cnbc. this year, teenagers plan to spend about $2,367 on everything from fast food meals and video games to handbags and sneakers, piper sandler found, or roughly $66 billion. that’s up 9% from reported spending levels in the spring 2021 report and up 4% from piper sandler’s fall survey. the report revealed that the teens are also increasingly concerned about the russian war in ukraine and less preoccupied with the covid-19 pandemic. reuters us buybacks reach new highs ahead of earnings stock buybacks in the united states appear to be breaking new ground as firms prepare for quarterly earnings season, even as some investors are concerned about the mounting threat of inflation, a potential recession, and stagnant share prices. according to financial data firm epfr, informa financial intelligence, new repurchase announcements by u.s. companies reached over $300 billion in the first quarter, with march showing a high year-over-year increase, suggesting buybacks have remained resilient in recent weeks. google backed verse commands $5b valuation after latest funding round alphabet inc (nasdaq: goog ) (nasdaq: googl ) google-backed short-video app josh’s parent verse innovation has raised $805 million in a funding round. the funding has put a $5 billion valuation on verse. verse said the investment would strengthen the ai-powered local language content platform across its family of apps, targeting india’s subsequent billion internet users. wsj sec employees inappropriately accessed restricted legal records according to an agency notice, employees at the securities and exchange commission improperly accessed documents prepared for litigated cases in the agency’s administrative court system, writes wall street journal. the disclosure highlights concerns about the independence of the sec’s in-house court system. the sec’s notice didn’t disclose when the agency identified the breach. the agency has hired an outside consulting firm to investigate the impact on cases. bloomberg blockchain.com launches asset management service blockchain.com, which raised a new round of funding led by lightspeed venture partners last week with participation from edinburgh-based baillie gifford, valuing the company at $14 billion, has launched an asset-management brand. the bcam service will be available to institutional investors, family offices, and high-net-worth individuals. it was developed with altis partners, a futures portfolio management firm. us and german authorities close longest-running darknet market, hydra u.s. and german officials have seized the so-called world’s largest and most prominent darknet market, which traffics in illicit goods and services. the hydra market’s servers were shut down, and german police confiscated cryptocurrency wallets containing $25 million worth of bitcoin. in 2021, hydra accounted for an estimated 80% of all darknet market-related cryptocurrency transactions, and since 2015, the marketplace has received approximately $5.2 billion in cryptocurrency. financial times volkswagen to scrap dozens of models and focus on premium market volkswagen ag (otc: vwagy ) to discontinue several of its combustion engine models by the end of the decade and sell fewer cars overall to focus on developing more profitable premium vehicles, financial times reported, citing the company’s finance chief. “the main goal is not growth, it is us [more focused] on quality and margin rather than quantity and market share,” the report quoted cfo arno enlitz, reversing the stance taken by former vw executive. uber goes aggressive in one of its leading market following pandemic recovery uber technologies inc (nyse: uber ) looks to add long-distance travel bookings to its u.k. app this year, including intercity trains, coaches, and flights. uber aims to expand its ride-booking app into a one-stop shop for travel that could eventually include hotels, including a “seamless door-to-door experience.” benzinga twitter restricts russian state media accounts, prisoner of war content twitter inc (nyse: twtr ) looks to stop amplifying russian government accounts, asking other government-affiliated media to remove posts featuring war prisoners. twitter would add warnings to state-backed accounts’ posts about prisoners when they have a “compelling public interest.” twitter would also order the removal of posts about prisoners of war with “abusive intent.” intel exits russia over ukraine invasion; 1,200 employees impacted on tuesday, american chipmaker intel corporation (nasdaq: intc ) announced that it had suspended business operations in russia, joining a slew of companies that decided to exit the country amid the invasion of ukraine by the russian army. this came after it suspended shipments to customers in russia as part of u.s. sanctions earlier this year alongside rivals advanced micro devices, inc. (nasdaq: amd ) and nvidia corp. (nasdaq: nvda ). “intel continues to join the global community in condemning russia’s war against ukraine and calling for a swift return to peace,” the company said in a release. elon musk’s spacex set to launch first all-private iss mission with axiom space on friday tesla inc (nasdaq: tsla ) ceo elon musk’s spacex has said it is now targeting to launch its first all-private mission to the international space station on friday, following a two-day delay. axiom space inc’s ax-1 launch will take place at nasa’s kennedy space center in florida on april 8, spacex said on tuesday. users end up spending $26m in ethereum gas fees, trying to mint vaynersports nfts the vaynersports pass nft project faced harsh criticism on tuesday after users spent three times the nft sale amount on gas fees alone. the vaynersports pass nft collection was launched by aj vaynerchuk, brother of prominent internet personality gary vaynerchuk also known as gary vee. the widely anticipated public mint went live on tuesday, but users found themselves paying a cumulative amount of $26 million in gas fees. meanwhile, the total amount made from the nft sale was just $8.6 million. starbucks to enter nft business this year, ceo touts’ heritage’ advantage starbucks corp (nasdaq: sbux ) plans to get into the non-fungible token (nft) business before the end of the year. speaking at an open forum on april 4, starbucks ceo howard schultz said “sometime before the end of this calendar year, we are going to be in the nft business.” schultz also went on record to state that he believes starbucks is far better poised than its competitors to take advantage of opportunities in the digital asset space. alibaba down 4.5%, jd down 4.9%: what’s driving hong kong markets lower today shares of u.s.-listed chinese tech companies — alibaba group holdings ltd. (nyse: baba ), jd.com inc . (nasdaq: jd ), tencent holdings (otc: tcehy ), and baidu inc. (nasdaq:bidu— traded in red in hong kong on wednesday (local time). the stock of these u.s.-listed chinese tech giants had a subdued ending in u.s. trading on tuesday. overall, the hang seng index was trading 2% or 390 points lower at 10:47 a.m. hong kong time. the downfall came amid subdued global cues. photo via wikimedia commons | 2022-04-06 |
reuters here’s why hp shares are trading higher premarket warren buffet’s berkshire hathaway inc (nyse: brk-b ) acquired 121 million shares of hp inc (nyse: hpq ), the latest in significant investments according to the sec filings. berkshire acquired an 11.4% stake in hp, worth about $4.2 billion based on hp’s april 6 closing price of $34.91, reuters reports. investors had lost interest in companies like hp over concerns of surging inflation, curbing consumer spending, coupled with the fed rate hike. walmart’s indian e-commerce arm flipkart boosts ipo valuation walmart inc (nyse: wmt ) owned indian e-commerce company flipkart has boosted its ipo valuation to $60 billion - $70 billion from the previous $50 billion. also, flipkart has postponed its plans for the u.s. listing to 2023 instead of 2022. the report noted that the indian company has decided to wait for the listing with plans to boost valuations further from two of its newest businesses, online healthcare services, and travel bookings. shell forecasts russia-related impairment charges of $4b-$5b in q1 fy22 shell plc (nyse: shel ) will write down up to $5 billion following its decision to exit russia, more than previously disclosed. the post-tax impairments of between $4 billion and $5 billion in the first quarter will not impact its earnings, shell said in an update ahead of its earnings announcement on may 5. cash flow in the quarter would be negatively impacted by “very significant” outflows of around $7 billion due to changes in the value of oil and gas inventories. boeing 737 max lands in china amid uncertainty over model’s return a boeing co (nyse: ba ) 737 max intended for china eastern airlines (nyse: cea ) subsidiary shanghai airlines landed in shanghai on thursday, according to flight-tracking websites, amid uncertainty about when the model will resume flying in china. flight boe631 from guam came more than three weeks after the first 737 max bound for a chinese customer since a 2019 grounding began its journey from seattle to boeing’s completion plant in zhoushan. the plane, painted in shanghai airlines livery, had been stuck on the ground in guam since march 15 due to a minor technical issue. elon musk met joe biden’s administration today: reuters president joe biden’s administration on wednesday held a meeting with key automaker executives, including tesla inc (nasdaq: tsla ) ceo elon musk to discuss electric vehicles and charging, reuters reported, citing a white house statement. musk, who has previously been snubbed by biden on numerous occasions, joined ford motor co’s f jim farley, general motors co’s gm mary barra, and other auto executives. wsj amazon’s business practices catches sec’s attention the sec investigated amazon.com inc’s (nasdaq: amzn ) disclosure norms for some of its business practices, including how it uses third-party-seller data for its private-label business. the sec probe, which has been underway for more than a year, investigated how amazon handled disclosures of its employees’ use of data from sellers on its e-commerce platform. the sec sought emails and communications from several senior amazon executives. this gadget-rental firm’s latest fundraising earns it unicorn status grover deutschland gmbh raised $330 million at a valuation of over $1 billion: $110 million in equity and $220 million in debt. grover looks to utilize the proceeds to hire over 100 people in the u.s., mostly software engineers and product professionals, and advertise its service. the fundraising positioned the company renting out smartphones and other devices to expand in the u.s., its fastest-growing market. fda official says frequent covid-19 booster shows not sustainable: wsj according to a u.s. health regulator, asking people to get covid-19 boosters frequently wasn’t sustainable because of vaccine fatigue, and authorities needed to develop a long-term strategy for protection against the evolving virus. dr. peter marks, who heads the fda’s vaccines division, said that last week’s authorization of a second booster dose was a stopgap. bloomberg india’s tata group goes head-on with amazon, to roll out new super app for all shopping needs the indian conglomerate tata group will roll out an all-in-one e-commerce app allowing users to buy everything from apparel to airline tickets. mumbai-based tata digital pvt’s digital services platform, tata neu, will go live to consumers on april 7. the report noted tata neu is expected to give more power to the indian conglomerate against rivals such as amazon.com inc (nyse: amzn ), billionaire mukesh ambani’s reliance, and walmart inc (nyse: wmt ) owned flipkart. financial times ‘zuck bucks:’ meta said to explore digital tokens, creator coins after failed diem project meta platforms inc (nasdaq: fb ) is reportedly revisiting its digital asset plans after having failed to launch diem, a cryptocurrency that it spent years developing. meta is looking to introduce virtual coins, tokens, and lending services to its apps, the financial times reported on wednesday, citing people close to the matter. the move is seen as a potential way to secure “alternative revenue streams” amid declining interest in social networking apps like facebook and instagram. benzinga this alibaba rival’s founder steps down as ceo: what you need to know jd.com (nasdaq: jd ), which has emerged as a potent rival to e-commerce giant alibaba group holdings, inc . (nyse: baba ) is seeing a change of guard at the helm. beijing-based jd.com said the baton has been passed from founder chairman and ceo richard liu to longtime company executive lei xu, with the transition taking immediate effect. xu will also join the company’s board. the announcement did not come as a surprise: jd.com announced last september that liu intends to focus away from the day-to-day running of the company to long-term strategic planning. a new position of president was then created and xu was named to the role. caesars agrees to revised deal to sell william hill non-us assets to 888 holdings caesars entertainment inc (nasdaq: czr ) has altered the enterprise value to sell the non-u.s. assets of william hill to the british gambling firm, 888 holdings plc, to £1.95 billion - £2.05 billion. the previously quoted agreement value for the deal in september 2021 was £2.2 billion. the revised agreement reflects a £250 million reduction in consideration payable at the deal’s closing. breaking: tesla recalls 127,785 model 3 vehicles in china over manufacturing defects elon musk-led electric vehicle maker tesla, inc. (nasdaq: tsla ) is recalling a total of 127,785 model 3 vehicles — both imported and locally made — in china, the country’s state administration for market regulation has said, according to multiple reports. the vehicles’ rear motor inverter power semiconductor components with production dates between january 11, 2019, and january 25, 2022, may have minor manufacturing differences, according to cnevpost. this may cause the rear inverter to malfunction after the vehicle has been in use for a period of time, resulting in the inverter not being able to control the current properly. meta bans over 400 facebook accounts in preparation for philippines’ 2022 general elections in the lead-up to the philippines’ 2022 general elections, meta platforms, inc (nasdaq: fb ) says it has taken down over 400 accounts, pages, and groups focused on fake engagements. this comes as a part of the facebook parent company’s move to crack down on hate speech and misinformation in collaboration with philippines’ commission on elections. ‘didn’t do their homework:’ bitcoin bull scaramucci takes shot at warren buffett and jamie dimon over crypto criticism skybridge capital founder anthony scaramucci took a shot at cryptocurrency skeptics from the world of traditional finance. speaking at the australian financial review’s crypto summit on wednesday, scaramucci said investors like warren buffett and jamie dimon are reluctant to get on the cryptocurrency bandwagon because they haven’t done enough research on the subject. “these sorts of traditional finance people have made a decision not to do the homework, or maybe they’ve done the homework, and they have decided that it’s just too big of a change for them at this stage in their career,” said scaramucci. elon musk shares photo of him smoking weed to show what twitter board meetings will look like now tech tycoon and tesla inc. (nasdaq: tsla ) ceo elon musk on thursday shared an old photo from the joe rogan podcast depicting him smoking weed and also highlighted how his selling a company at the end of the nineties led to twitter inc. (nyse: twtr ) getting its edit button. musk disclosed acquired a 9.2% stake in twitter earlier this week — 73,486,938 shares with sole voting power for $2.89 million — resulting in the stock jumping 29% higher. this followed him saying that he was giving serious thought to creating an “alternative” to twitter. the tesla ceo was appointed to the social media company board a day later. nio’s autonomous driving systems head said to be leaving the company: here’s why nio inc’s (nyse: nio ) head of autonomous driving systems engineering, zhang jianyong, is leaving the company to start his own automotive chips venture, cnevpost reported on thursday, citing xev lab, a media outlet focusing on the smart car industry. nio’s venture capital arm nio capital is interested in investing in zhang’s business linked to autonomous driving and possibly in the area of automotive chips with high computing power. tesla hikes prices yet again in the us for some model 3 variants tesla inc (nasdaq: tsla ) on wednesday raised the prices of some of its electric vehicles for the third time in less than a month in the united states, as the company grapples with inflationary pressure and logistical snarls. austin, texas-based tesla has quietly bumped up the prices for the model 3 performance and long range variants by $1,000 and $1,500, the company’s website shows. photo via wikimedia commons | 2022-04-07 |
cnbc investment strategist says global economy entering ‘war-cession’ as per investment strategist david roche, the global economy is likely entering a “war-cession,” and markets are underestimating its duration. speaking to cnbc’s “squawk box europe,” roche, president of independent strategy, suggested that evidence of atrocities committed against civilians in ukraine by russian forces will prevent any possibility of swift peace negotiation with russian president vladimir putin. “when the pain does become extreme on the output and performance, growth side of the economy, of course they will slip back, but i think it will take a lot longer to happen than the equity market assumes,” he said. reuters economists expect fed to hike rates aggressively in coming months according to economists polled by reuters, the federal reserve is anticipated to raise interest rates by a half-point in may and june to tackle rising inflation. they also predict a 40% chance of a recession next year. with the unemployment rate nearing a four-decade low, inflation at its highest level in four decades, and global commodity prices rising, most analysts believe the fed needs to act fast to keep price pressures under control. 85 of 102 economists forecast 50 basis points in may, and a still-solid majority of 56 said the fed would follow up with 50 basis points in june. goldman sachs acquires nn investment partners for $1.9b goldman sachs group inc (nyse: gs ) has acquired netherlands-based asset manager nn investment partners for 1.7 billion euros ($1.9 billion), reuters reported. through the acquisition, goldman expects to expand its asset management footprint in europe and increase its sustainable investment capabilities. western sanctions on russia jeopardizes satellite launches to space u.s. rocket companies remain saddled with hauling hundreds of satellites to space as sanctions sideline the russian space launch industry. more than 800 satellites under 100 kilograms would likely be put in orbit this year alone, nearly double the number of launches year-on-year. analysts saw rocket lab usa inc (nasdaq: rklb ), astra space inc (nasdaq: astr ), amazon.com inc’s (nasdaq: amzn ) project kuiper, and tesla inc (nasdaq: tsla ) ’s elon musk owned spacex’s starship as the winners from the surging demand. bmw ceo sees semiconductor shortage to continue into 2023 german carmaker bmw or bayerische motoren werke ag (otc: bmwyy ) chief executive officer oliver zipse said the semiconductor shortage will continue into 2023, reuters reported. in an interview with the newspaper neue zuercher zeitung (nzz), the ceo said, “i expect us to start seeing improvements at the latest next year, but we will still have to deal with a fundamental shortage in 2023.” the report noted zipse’s comment is the latest after volkswagen’s financial head arno antlitz said he expected the chip supply and demand deficit to extend until 2024. wsj jetblue, alaska airlines reduce summer schedules aiming for smoother summer airlines are increasing staff and reducing flights to avoid disruptions as both customer demand and labor shortages persist. after canceling more than 300 flights over the weekend, jetblue airways corp (nasdaq: jblu ) announced that it would curtail flights in may and into the summer due to staffing constraints. alaska air group, inc. (nyse: alk ) announced last week that it would limit spring flights to catch up on pilot training. meanwhile, like american airlines group inc (nasdaq: aal ), some airlines claim they are ready for the summer surge following a months-long recruiting spree. experts see possible exodus of bank deposits following pandemic recovery the year 2022 could jinx the u.s. banks’ streak of increasing deposits as a group every year since at least world war ii. bank analysts have slashed their deposit level expectations at the biggest banks over the past two months. the 24 institutions that make up the benchmark kbw nasdaq bank index will likely see a 6% decline in deposits in 2022. bank deposits have grown sharply during the pandemic, fueling doubts over a full-year decline. fedex, uber, lyft drivers press help button amid rising gas prices fedex corporation (nyse: fdx ), uber technologies inc (nyse: uber ), and lyft inc (nasdaq: lyft ) have imposed new or higher fuel surcharges on customers as energy prices shoot higher amid russia-ukraine war. in an online petition being circulated, fedex ground contractors are asking for a cash injection, either through a temporary payment or additional compensation per stop. citigroup plans to re-enter saudi arabia citigroup inc (nyse: c ) is planning to apply for a full banking permit in saudi arabia. the move comes after citigroup pulled out its operations from saudi arabia following the september 11, 2001, attack. the banking giant obtained a license for investment banking in 2018 and had taken part in the offering of oil giant aramco. bloomberg bitmex founder says technology rout could push bitcoin to $30k according to arthur hayes, co-founder of crypto trading platform bitmex, bitcoin’s tendency to fluctuate in tandem with technology stocks suggests the largest cryptocurrency might fall to $30,000 by june. in a blog post on monday, hayes stated that the same mechanism might propel ether to $2,500. at 12:43 p.m. in hong kong, the tokens were worth roughly $42,300 and $3,180, respectively. hayes stated that he is purchasing “crash” puts on both coins that expire in june while also noting that he is in a “long crypto position” overall. here’s why bitcoin continues to lose conviction as diversifier bitcoin continued to move in tandem with the nasdaq 100 index, a trend maintained since the pandemic. the growing correlation between the indexes erodes the argument regarding bitcoin’s importance as a diversifier. the 40-day correlation between the two reached a record of 0.6945 on april 8. financial times us banks warn on plummeting investment banking revenues as dealmaking dries up the largest us banks are warning of lower investment banking revenue next week on a slowdown in dealmaking following a blockbuster 2021 supported by markets and widespread stimulus measures. financial times writes that the first quarter of 2021 was a lucrative three months in which banks minted fees from a boom in initial public offerings of special purpose acquisition companies. the slowdown has been worse than expected. bank executives have blamed russia’s invasion of ukraine and the subsequent market volatility. benzinga why twitter shares are plunging today twitter inc. (nyse: twtr ) shares traded 5.15% lower in the pre-market session at $46.23 early monday. the plunge in the stock comes as the world’s richest person and tesla inc. (nasdaq: tsla ) ceo elon musk declined a board position at the social media company. twitter shares are tumbling following a tweet from ceo parag agrawal that said musk had refused to join the company’s board of directors on the day when his addition would have become effective. the tesla ceo had previously said that he hoped to improve the social media platform. elon musk calls tesla co-founder eberhard’ pure poison’ tesla inc (nasdaq: tsla ) ceo elon musk said on sunday he wished he had never met martin eberhard, one of the founders and the first ceo of the electric vehicle company now led by the world’s richest man. musk said eberhard is “true poison,” in response to a thread on twitter, adding the real credit for creating tesla goes to him and another co-founder jb straubel, who now runs a battery recycling startup called redwood materials. shark tank’s kevin o’leary sats’ bitcoin mining is going to save the world shark tank investor kevin o’leary believes that bitcoin btc/usd mining is going to save the world. in his keynote speech at the bitcoin 2022 conference in miami, o’leary said: “bitcoin mining is going to save the world.” bitcoin’s proof-of-work consensus model requires a significant amount of energy that goes towards validating transactions. the energy consumption involved in the mining process has been a point of concern for critics of its impact on the environment. why alibaba and other major stocks are sliding in hong kong today shares of u.s.-listed chinese tech companies alibaba group holdings ltd. (nyse: baba ), jd.com inc. (nasdaq: jd ), tencent holdings (otc: tcehy ), and baidu inc. (nasdaq: bidu ) continued their losing streak in early trading in hong kong on monday. the overall hang seng index was trading nearly 3% lower amid negative cues from its global peers. breaking: tesla’s china sales jumped 85.5% in march tesla inc (nasdaq: tsla ) reported higher sales for locally made electric vehicles in china last month, according to multiple reports on sunday, citing the china passenger car association (cpca). austin, texas-based tesla sold 65,814 china-made electric vehicles in march, a jump of 85.5% year-on-year and a rise of 16.5% over february, cnevpost reported. tesla sold 35,478 vehicles in march last year in china and 56,515 vehicles in february this year. the elon musk-led company shipped only 60 vehicles in march, the report said. former softbank ceo has 10% of portfolio in bitcoin: ‘listen to your kids’ marcelo claure, the former chief executive officer of softbank group corp. (otc: sftby ) has allocated 10% of his personal portfolio to bitcoin btc/usd. speaking at the bitcoin 2022 conference in miami, claure said he believes bitcoin is one of the safest ways to preserve wealth. “we’re starting to see bitcoin as one of the safest ways in order for us to maintain our wealth, but more importantly, also it’s probably the only investment that exists today where the potential of gains is so much larger than the potential of an asymmetry,” he said. tesla getting into lithium mining is true ‘vertical integration,’ says gene munster tesla inc’s (nasdaq: tsla ) plans to directly mine and refine lithium at scale is a true example of vertical integration in an organization, cnbc reported on sunday, citing gene munster, founder-analyst at venture capital firm loup ventures. ceo elon musk on friday tweeted tesla may directly mine and refine lithium at scale due to the rocketing prices of the metal, a key ingredient used in making electric vehicle batteries. photo via wikimedia commons | 2022-04-11 |
cnbc entrepreneur behind microsoft’s wunderlist raised $11m - read why german entrepreneur christian reber who sold his to-do list app wunderlist to microsoft corp (nasdaq: msft ) in 2015, raised funding for a follow-on app called superlist. reber secured €10 million ($11 million) in a seed funding round led by venture capital firm eqt ventures, reaching a total of €13.5 million. superlist will use the new funding to double the size of its team from 20 to 40 by the end of 2022, focusing on hiring developers, designers, and product leads. us asks all non-emergency government staff in shanghai to leave as covid surges the u.s. state department has ordered all non-emergency government staff and their family members in shanghai to leave following a surge in covid-19 cases. “reconsider travel to the people’s republic of china (prc) due to arbitrary enforcement of local laws and covid-19-related restrictions,” the report quoted the state department. reuters fund managers pessimistic over global growth expectation, survey suggests as per a monthly survey by investment bank bofa securities, optimism among fund managers over global economic growth has hit an all-time low. concerns regarding possible stagflation have risen to the highest since august 2008. in the survey, 71% of survey respondents were pessimistic regarding the expectations for global growth in the coming months, the most since the survey records began in the early 1990s. the european edition of the survey found investors continuing to cut their european growth projections. buffett resisted goldman fee for $11.6b alleghany acquisition according to a recent regulatory filing, warren buffett needed just two weeks to put together berkshire hathaway inc’s (nyse: brk-b ) $11.6 billion takeover of alleghany corporation (nyse: y ), the insurer’s largest acquisition in six years, despite his refusal to pay the insurer’s banking charge, reports reuters. alleghany’s chief executive officer joseph brandon met with buffett for dinner in new york city on march 7. after some “casual conversation,” buffett offered $850 per share in cash for the company, less the fee for bankers at goldman sachs. bosch halts production at two china plants: reuters german auto parts supplier bosch has halted production in the chinese cities of shanghai and changchun following covid-19 curbs. bosch has closed shutters at a thermotechnology factory in shanghai and an automotive components site in changchun in northeastern jilin province. the report noted two other plants in shanghai and taicang city are in closed-loop operations, with the workers in isolation from the society. wsj biden administration’s plan to tackle pain at pump amid russia-ukraine war: allow high-ethanol gas the ukraine-russia war has sent fuel prices skyrocketing and consumers are feeling the pain at the pump. to mitigate the crisis at hand, president joe biden’s administration is considering options to make fuel affordable for americans this summer driving season. the environmental protection agency administration is planning to allow a grade of gasoline called e15 gasoline, which uses a 15% ethanol blend, a press statement from the white house said. bloomberg microsoft allegedly exploited its influence to gain edge over amazon, google, alibaba microsoft corp (nasdaq: msft ) customers and rivals, including amazon.com inc (nasdaq: amzn ), alphabet inc (nasdaq: goog ) (nasdaq: googl ) google and alibaba group holding ltd’s (nyse: baba ) alleged repeatedly using its sway over one market to hinder competition in another market. microsoft’s practices cut across cloud computing, where it played catch-up, and productivity software, where it dominated. in 2019, microsoft revamped the mode of licenses saying certain programs “cannot be deployed with dedicated hosted cloud services offered by the following public cloud providers: microsoft, alibaba, amazon (including vmware cloud on aws), and google.” financial times jpmorgan mulls splitting ceo role with jamie dimon staying as non-executive chair last week, in its securities filing, jpmorgan chase & co (nyse: jpm ) said a “substantial majority” of investors wanted him to stay on as non-executive chair when he steps down as chief executive. if he does stick around, it will mark the first time jpmorgan will split the roles of chair and ceo since 2006, when dimon added the role of chairing the board of directors to the responsibilities he assumed upon being made the bank’s top executive a year earlier, writes financial times. benzinga honda motor earmarks $64b over 10 years on ev push, firing up rivalry with tesla honda motor co ltd (nyse: hmc ) looks to spend ¥8 trillion ($64 billion) on research and development over the next decade, laying out an ambitious target to roll out 30 electric vehicle models globally by 2030. honda’s goals include producing 2 million evs a year by 2030 to gain a share in the fast-growing market led by tesla inc (nasdaq: tsla ). honda looks to establish a dedicated ev production line in north america, where it will also procure ultium batteries from general motors co (nyse: gm ). ethereum’s first-ever’ shadow fork’ goes live: why it’s significant the first-ever “shadow fork” of the ethereum eth/usd mainnet went live on monday. according to a twitter update from ethereum developer parithosh jayanthi, the shadow fork is a way to stress test the developers’ assumptions around syncing and state growth before it is officially deployed on the mainnet. tesla rival xpeng puts up special p7 edition for sale: here’s what you need to know u.s. listed chinese electric vehicle maker xpeng inc’s (nyse: xpev ) electric mid-size sedan p7 black label edition that it announced last month is now available for sale, cnevpost reported on tuesday. the ev maker last month unveiled the special edition to celebrate the rollout of the 100,000th p7. the xpeng p7 black label edition is priced at $51,800. the p7 competes with tesla inc’s (nasdaq: tsla ) model 3 electric sedan. xpeng’s cheapest p7 is currently priced at around $38,400. bitcoin records weekly outflow of $132m — the largest since january bitcoin btc/usd investment products saw the largest outflows since mid-january last week. according to the most recent digital asset fund flows weekly report from coinshares, bitcoin funds recorded $132 million in outflows last week. ethereum eth/usd funds saw $15.3 million in outflows while other altcoins remained resilient to profit-taking. liquidity group taps fintech machine-learning to deploy funds to geologie liquidity group, a fintech firm backed by apollo global management (nyse: apo ) and mufg bank (nyse: mufg ) has tapped into its machine-learning platform and deployed $5 million to geologie, a new york-based men’s skincare line. context: founded by nick allen and dave skaff, geologie — recognized by men’s health, esquire, and askmen — provides personalized skincare solutions. in attracting customers, the firm tapped liquidity group over its strategic financing. “the liquidity team not only provided funding to enable further growth but validated our plans and ambitions through their ‘liquidity analysis’ platform,” said allen. snoop dogg launches nft collection on ethereum rival blockchain american rapper snoop dogg has launched a collection of non-fungible tokens (nfts) on the cardano ada/usd blockchain. snoop dogg collaborated with nft project clay nation to release the nfts which feature the platform’s iconic clay animation as well as limited edition pitches and unreleased music from the rapper. exclusive: time machine is the new value-drive cannabis that reveres gamer culture time machine, a value-driven cannabis brand, is launching today in california, benzinga has learned exclusively. time machine offers premium greenhouse-grown hydroponic flower sourced from pacific stone’s family of farms on california’s central coast and features eight consistent strains: wedding cake, london pound cake, blue dream, bubblegum, strawberry cheesecake, gg4, snowman and kush mints. nokia exits russia amid ukraine invasion: what you need to know the telecom equipment giant nokia corporation (nyse: nok ) is the latest one to join the slew of companies pulling out of the russian market amid the country’s invasion of ukraine. the company in a press statement said it is expecting no financial impact from the decision as russia accounted for less than 2% of its net sales in 2021. “it has been clear for nokia since the early days of the invasion of ukraine that continuing our presence in russia would not be possible. over the last weeks we have suspended deliveries, stopped new business and are moving our limited r&d activities out of russia,” it said. ‘it’s not the party, it’s the system:’ jack dorsey blasts democrats, republicans for failing the public twitter inc (nyse: twtr ) founder and block inc (nyse: sq ) ceo jack dorsey reacted to upcoming inflation numbers on monday and said in a social media post that both parties had squandered opportunities to build trust with the public. dorsey said both republican and democrat administrations had failed the public due to flaws in the system. every administration, republican or democrat, has an opportunity to build trust with the public. $456m in crypto liquidated as bitcoin falls to $39,400 cryptocurrency markets saw a massive selloff on monday, leading to large-scale liquidations across the board. according to data from coinglass, more than $456 million was liquidated from 146,000 cryptocurrency traders in the last 24 hours. bitcoin btc/usd alone saw $157 million in liquidations as the leading digital asset fell to an intra-day low of $39,373. shiba inu sees 200% surge in large transactions over 24 hours meme-based cryptocurrency shiba inu shib/usd saw a 202% surge in large transactions over the last 24 hours. according to data from intotheblock, there were 124 on-chain transfers with a minimum value of $100,000 on monday. shib lost 10% of its value over the last 24 hours amid a massive selloff in wider cryptocurrency markets. the token fell to an intraday low of $0.00002198. tesla said to submit plan for 100,000-sq-ft sales and delivery center in this florida city tesla inc (nasdaq: tsla ) has proposed to open a 100,000-square-feet sales, service, and delivery center in st. petersburg, florida, a local real estate news portal reported on monday. austin, texas-based tesla is under contract to buy a 4.21-acre site in the major city that currently features an existing building requiring renovation, according to st. pete rising. photo via wikimedia commons | 2022-04-12 |
benzinga has examined the prospects for many investor favorite stocks over the past week, while offering a 24/7 news feed, live chat and charting software on benzinga pro . the markets ended a short holiday week on a downside, with a troubling inflation report and a set of big bank earnings being reported to kick off the earnings season. the dow jones industrial average saw a slight dip of 0.8% this week, while the nasdaq composite took the biggest hit of the three major indexes, coming down 2.6%. the s&p 500 ended the week with a loss of 2.1%. meanwhile, the 10-year treasury yield was up 12 basis points to 2.83%, marking the highest level since late 2018, and u.s. crude oil futures rose almost 9% to $106.95 a barrel last week. benzinga continues to examine the prospects for many of the stocks most popular with investors. here are a few of this past week's most bullish and bearish posts that are worth another look. the bulls " this upcoming catalyst could send disney shares 'off to the races' ," by adam eckert, outlines the reasons cerity partners' jim lebenthal thinks the walt disney co (nyse: dis ) will provide a good first-quarter report, which he says will send the company stock higher. in " why cathie wood is still bullish on tesla amid recession fears, shanghai production hit ," rachit vats writes about why cathie wood continues to remain bullish on its top holding, tesla inc (nasdaq: tsla ), despite fears of a u.s. recession and the recent shutdown at giga shanghai due to citywide lockdowns " dogecoin bull gokhshtein sees shiba inu shooting up a whopping 3200% from here ," by samyuktha sriram, outlines the reasons david gokhshtein, ceo of crypto media firm gokhshtein media and pac protocol (crypto: pac), has a price target of $0.001 for meme coin shiba inu (crypto: shib ). for additional bullish calls of the past week, check out the following: 'that's a buy signal': why kevin o'leary just bought alibaba, tencent and meituan stock this investor plans to hold bank of america stock through earnings despite anticipating a decline: here's why why american airlines could fly 50% higher due to this bullish pattern the bears " why cathie wood's ark has substantially reduced its twitter stake ," by shanthi rexaline, looks at why ark invest, the fund run by cathie wood, has been gradually trimming its position in twitter inc (nyse: twtr ) since the beginning of the year. in " ditch apple, google and buy shares in these sectors instead, says cramer ," shivdeep dhaliwal explains why cnbc's jim cramer is telling investors to shun faang and big tech stocks such as apple inc (nasdaq: aapl ) and alphabet inc (nasdaq: googl ) (nasdaq: goog ). " is charlie munger's patience wearing off? daily journal cuts alibaba holdings by half in q1 ," by shanthi rexaline, reports on the reasons why daily journal, a hedge fund run by charlie munger , is reducing its position in alibaba group holdings, inc. (nyse: baba ). for more bearish takes, be sure to see these posts: 'the big short' fame's michael burry takes note of rising s&p 500 price-to-sales ratio jim cramer highlights the missing piece in paypal cfo's departure how amazon, disney and others are beating netflix at its own game: analyst keep up with all the latest breaking news and trading ideas by following benzinga on twitter. | 2022-04-16 |
cnbc shanghai reports first covid-related deaths since latest lockdowns shanghai city said that three people have died as of sunday, attributing the deaths to preexisting health conditions. the official announcement noted that all three people were elderly and were not vaccinated against covid-19. beijing is trying to increase vaccination rates among the country’s older population. according to the national health commission, as of april 11, about 224.8 million people over the age of 60 had been vaccinated. american airlines’ new ceo promises reliability entering peak travel season this summer, american airlines group inc’s (nasdaq: aal ) ceo, robert isom, is aiming for one thing: reliability. last year, the airline grew faster than its larger competitors, and passengers occasionally experienced extensive disruptions as a result of routine challenges such as weather and understaffing, writes cnbc. robert isom, who took over as ceo of america’s largest airline on march 31, said his top priority is ensuring that passengers can rely on american this summer and beyond. reuters volkswagen resumes production in changchun city in china volkswagen ag (otc: vwagy ) factories in the northeastern chinese city of changchun have resumed production. the move comes after the city relaxed the covid-19 restrictions. the auto major runs its changchun facilities through a joint venture with china’s faw group. wsj as evolving pandemic response, officials shift to personal choice on covid-19 boosters, masks in the latest phase of the covid-19 pandemic, federal and local officials are leaving it up to people to assess if they need booster shots, whether to wear a mask and how long to isolate after a positive test. people 50 years and older can get the additional booster at least four months after their first, but health authorities aren’t pushing those eligible to get the shots. officials are still watching the virus closely. states and local governments are tracking wastewater data and counting hospitalizations and cases. after march crash, china eastern resumes boeing 737 model flying: wsj china eastern airlines corp (nyse: cea ) resumed passenger flights of its boeing co (nyse: ba ) 737-800 model aircraft after grounding the planes for nearly a month, following a crash of one of the planes. while the airline’s boeing 737-800 planes have resumed operations, china eastern said on monday that it is still investigating and conducting assessments on a batch of 737-800 planes manufactured around the same time as the plane that crashed. bloomberg here’s why cargill suspended palm oil deal with malaysia’s leading planter sime darby leading agricultural trader cargill inc stopped buying palm oil products from sime darby plantation bhd (otc: sdpnf ) following indication of forced labor, bloomberg reports. sime darby acknowledged that cargill had suspended all new sourcing of palm oil and derivative products since february 25 for reasons undisclosed. the companies were in talks. sime is a leading oil palm planter by acreage. the u.s. customs and border protection looked to seize sime’s palm oil and related goods as sime used convicts and forced or indentured labor to manufacture products. here’s how china ruined alibaba’s ambitions of becoming china’s amazon china’s regulatory crackdown on alibaba group holding ltd (nyse: baba ) shattered its ambitions of becoming amazon.com inc (nasdaq: amzn ) of china, bloomberg reports. alibaba’s core e-commerce operation is under siege by regulators. the regulators also forced its finance arm to pull back from some of its most lucrative initiatives. financial times ftse 100 ceo remuneration reaches to pre-pandemic levels, pwc analysis shows pwc’s analysis of the first 50 ftse 100 companies saw that ceos’ 2021 median total remuneration jumped 34% year on year to pre-pandemic levels. a significant hike in annual bonuses drove the growth as some sectors like banks, broader financial services, and the construction industry saw a post-covid boom. the analysis coincided with the agm season, as investors scrutinize executive remuneration to ensure that companies taking furlough money or cutting dividends do not pay bonuses. bmw assures not to cut jobs in electric model transition: financial times bayerische motoren werke ag (otc: bmwyy ) will not resort to job cuts during the company’s transition from combustion engines to electric models. “we will not have job losses due to the transformation,” the report quoted ceo oliver zipse. “at the end of the day, possibly already in this decade at our munich plant, there will be fully electric production without anyone losing their job.” benzinga is elon musk considering tender offer for twitter shareholders? cryptic musical tweet sparks speculations amid twitter, inc . (nyse: twtr ) board’s reluctance to accept tesla, inc. (nasdaq: tsla ) ceo elon musk’s offer to take the social media platform private, the world’s richest person may be plotting his next move. wedbush analyst and prominent tesla bull daniel ives said in a recent note it has now become a “game of high-stakes poker” between the two parties. as the stakeholders look ahead to how the musk-twitter saga will evolve, the tesla ceo sent everyone into a guessing game with a pithy cryptic tweet. on saturday, musk tweeted “love me tender,” enclosing the tweet between musical notes emojis. at face value, it seems to be a reference to elvis presley’s 1956 hit song with the same title. apple said to be testing next line of m2 chips against third-party apps apple inc (nasdaq: aapl ) is testing its next generation of silicon chips against third-party applications, according to bloomberg tech journalist mark gurman. gurman said in a weekly newsletter that apple has both a series of new m2 chips and macs in development. the tim cook-led company is testing the chips against third-party applications to ensure compatibility, according to gurman. elon musk celebrates dogecoin-themed easter but the meme coin is still plunging hard dogecoin doge/usd traded 5.8% lower over 24 hours at $0.135 at press time early on monday, declining with other major coins like bitcoin and ethereum as the global cryptocurrency market cap fell 3.9% to $1.8 trillion. this came even as tesla inc (nasdaq: tsla ) ceo elon musk shared a photo on twitter that featured dogecoin-themed easter eggs and, supposedly, his own pet shiba inu dog floki. $100m liquidated in 1 hour as bitcoin slips below $39,000 more than $100 million worth of longs were liquidated over a one-hour time frame as bitcoin btc/usd lost support at $39,000. according to data from benzinga pro, bitcoin saw a sharp selloff during asian hours on monday. the leading digital asset lost 4% of its value and fell to an intra-day low of $38,905. ethereum eth/usd, solana sol/usd, cardano ada/usd, and other leading altcoins also saw a sudden drop in prices. bitcoin, ethereum, dogecoin sluggish over holiday weekend: stocks could define crypto direction in key earnings week bitcoin and ethereum traded below key psychological levels on sunday evening as the global cryptocurrency market cap decreased 2.1% to $1.85 trillion at press time. why it matters: risk assets such as cryptocurrencies slid, while stock futures dropped ahead of a week filled with earnings activity. some of the companies set to report this week include netflix inc (nasdaq: nflx ) and tesla inc (nasdaq: tsla ). photo via wikimedia commons | 2022-04-18 |
as investors look ahead to a busy trading week with the first-quarter reporting season kickstarting, here's a recap of a few major headlines that hit the wire over the weekend. 1. cathie wood has new tesla price target: cathie wood's ark invest announced late thursday it expects tesla stock to hit $4,600 by 2026. this represents an upward adjustment from the firm's previous expectation of the stock scaling $3,000 by 2025. the firm attributed the bulk of the valuation upside to contribution from robotaxis tesla ceo elon musk sounded out at the cyber rodeo event held earlier this month. 3. twitter adopts shareholder-rights plan, musk hints tender offer: twitter, inc.'s (nyse: twtr ) board adopted a shareholder rights plan, aka poison pill, in a defiant move against tesla ceo elon musk's $54.20 per share hostile buyout offer for the social media platform. separately, elon musk posted a cryptic tweet that suggested he could make a tender offer to twitter shareholders. 3. didi seeks shareholder consent for voluntary delisting: beleaguered chinese ride-hailing giant didi global inc. (nyse: didi ) said over the weekend that its shareholders will vote on its planned delisting from the u.s. exchange at an extraordinary general meeting scheduled for may 23. after a high-profile debut on the nyse in mid-2021, the company came under pressure from chinese regulators over data integrity and antitrust concerns. the crisis precipitated the delisting move. 4. amc keeps up promise: doge (crypto: doge ) and shiba inu (crypto: shib ) along with a few other cryptocurrencies are now available as payment options at the mobile app of movie theater chain amc entertainment holdings, inc. (nyse: amc ), ceo adam aron confirmed in a tweet on saturday. 5. china posts q1 growth: china reported a 4.8% rise in gross domestic product year-over-year in the first quarter, beating the consensus estimate of 4.4%, data from china's national bureau of statistics showed. on the flip side, retail sales fell 3.5% year-over-year in march, steeper than the 1.6% drop estimated by economists, potentially indicating woes for e-commerce giants like alibaba holdings ltd (nyse: baba ) amid covid-19 resurgence in the country. | 2022-04-18 |
china grew at a faster-than-expected clip in the first quarter, belying widespread fears that the covid-19-induced shutdowns may have hurt the economy. gdp by numbers: china's gdp rose 4.8% year-over-year in the first quarter, exceeding the expected growth of 4.4%, data from china's national bureau of statistics showed. this also came ahead of the 4% growth posted in the fourth quarter. on a quarter-over-quarter basis, the growth was 1.3%, slowing from the 1.6% pace in the fourth quarter. the chinese government has a gdp growth target of 5.5% for 2022. the nbs also released a slew of reports, including industrial production, retail sales, fixed-asset investment and unemployment rate. the year-over-year growth in industrial production slowed from 7.5% in february to 5% in march but came ahead of the 4.5% consensus. on the flip side, retail sales fell 3.5% year-over-year in march, steeper than the 1.6% drop estimated by economists. the unemployment rate came in at 5.8% in march compared to 5.5% in february. this was the highest since may 2020. related link: why alibaba and other stocks are not trading in hong kong today author's take — readthrough for domestic companies: the overall gdp growth for the first quarter should bode well for domestic companies. despite the geopolitical tensions surrounding the ukraine-russia war, the domestic economy managed to quicken the pace of growth. the data for march is beginning to reflect the impact of covid-19 shutdowns in different parts of china. domestic electric vehicle companies such as nio, inc. (nyse: nio ) and u.s. giant tesla, inc. (nasdaq: tsla ) were all forced to shutter operations to comply with covid-19 norms put in place by local authorities. the repercussions of the renewed covid-19 outbreak in china will begin to manifest in full force only in the second quarter. speculations regarding a prolonged shutdown until mid-may are doing rounds and this could have a severe impact on the revenue growth of companies as well as the overall economy. the softer retail sales portend revenue hit for e-commerce retail giants such as alibaba group holdings, inc. (nyse: baba ) and jd.com, inc. (nyse: jd ). these companies have seen their performances sag due to receding consumer sentiment amid the economic woes and intensifying rivalry from smaller short-video apps that offer live shopping broadcasts by internet celebrities. a clearer picture can be expected to emerge when these companies report their march quarter numbers in may. related link: analyst details tesla's giga shanghai reopening plans: here's how it works | 2022-04-18 |
cnbc us calls for global agreement to end anti-satellite missile testing the u.s. government is looking to end the practice of anti-satellite missile tests, vice president kamala harris announced, urging other nations to follow. an anti-satellite weapons test (asat) is a military demonstration in which a spacecraft in orbit is destroyed using a missile system. historically, countries performing asat tests have targeted their assets in space. plans for the move were set late last year after the russian military destroyed a defunct satellite with an asat on november 15. reuters stellantis suspends production in russia stellantis nv (nyse: stla ) said it is halting its production in russia owing to economic sanctions and logistical difficulties. the automaker has 1% of russia’s car market, producing peugeot, citroёn, opel, jeep, and fiat brands. “given the rapid daily increase in cross sanctions and logistical difficulties, stellantis has suspended its manufacturing operations in kaluga to ensure full compliance with all cross sanctions and to protect its employees,” the company said in a statement. gogoro confident of its chip supply taiwanese electric scooter maker gogoro inc’s (nasdaq: ggr ) chief executive officer horace luke said that the company has an adequate amount of chips to meet its needs, reuters reported. the report quoted luke saying the company used far fewer chips than electric car makers and has a healthy supply of chips. meanwhile, ceo luke warned of a tightened chip supply scenario by year-end as it plans to grow in china, india, and southeast asia. here’s why ev demand continues to soar amid odds global ev sales in q1 jumped nearly 120%, even with sticker prices surging amid surging battery prices. supply chain disruptions, sanctions on russian metals, investor speculation, and environmental concerns drove the battery prices. gasoline and diesel fuel costs for internal combustion vehicles also skyrocketed since russia invaded ukraine. experts saw automakers passing the higher cost burden to consumers due to the battery industry’s wafer-thin margins. rolls-royce small nuclear reactor likely to win uk approval a rolls-royce (otc: rycey ) (otc: rycef ) design for a small modular nuclear reactor (smr) will likely win u.k. regulatory approval by mid-2024 and produce grid power by 2029, reuters reports. in the meantime, rolls-royce will start manufacturing parts of the design that are most unlikely to change. each 470 mw smr unit costs 1.8 billion pounds ($2.34 billion). rolls-royce will build each smr on a 10-acre site equivalent to 10 football fields. bloomberg blockchain.com is considering an ipo as early as this year according to people familiar with the matter, cryptocurrency firm blockchain.com is interviewing banks for an initial public offering that may take place as soon as this year, reported bloomberg. an ipo may not occur until next year, and the company’s intentions may change, stated the people familiar with the matter. tesla faces federal’ open investigation’ over racism allegations: what you should know tesla inc (nasdaq: tsla ) is facing an “open investigation” by a u.s. federal agency, bloomberg news reported on monday, citing the ev maker’s state court filing in oakland. elon musk-led tesla linked the investigation by the u.s. equal employment opportunity commission (eeoc) to a “turf war” with california’s state department of fair employment and housing (dfeh). austin, texas-based tesla, in its filing, accused dfeh of seeking a ‘quick publicity grab’ and asked a judge to pause a lawsuit filed in february by the agency over ignoring “rampant racism” in its factory in fremont. financial times this smaller spotify rival looks to go public via €1.05b spac merger spotify technology sa’s (nyse: spot ) smaller french rival deezer looks to go public via a spac merger backed by billionaire francois pinault’s investment group and investment banker matthieu pigasse, the financial times reports. deezer merged with i2po, a paris-listed special purpose acquisition company. the spac raised €135 million in the form of private investment in public equity (pipe) financing. uk-based start-up working on next covid-19 vaccine using animal feces diosynvax, a uk start-up, hopes genetic sequences of viruses discovered in animal feces will give vital clues for creating a vaccine to help prevent future pandemics. the cambridge university spinout is working on two vaccines that it believes will outlive the currently available covid-19 jabs, including the one created by researchers at rival oxford university. jonathan heeney first became interested in coronaviruses when he diagnosed them in cats and cheetahs during his studies. benzinga johnson & johnson suspends sales forecast for covid-19 vaccine, trims fy22 profit outlook johnson & johnson (nyse: jnj ) has reported q1 fy22 adjusted earnings of $2.67 per share, up 3.1% y/y and ahead of the consensus of $2.61. net sales increased 5% y/y (7.9% on an operational basis) to $23.43 billion, missing the consensus of $23.67 billion. pharmaceuticals contributed $12.87 billion in sales, +9.3%, due to darzalex (daratumumab), stelara (ustekinumab), tremfya (guselkumab), erleada (apalutamide), and paliperidone palmitate and covid-19 vaccine. amazon bows to shareholder-pressure and conducts racial equity audit: what you need to know e-commerce giant amazon, inc. (nasdaq: amzn ) said it is conducting a racial equity audit as part of its efforts to support and increase diversity in the workplace, a definitive proxy statement filed with the sec as form def 14a showed. amazon said the focus of the racial equity audit would be to evaluate any “disparate racial impacts of its policies, programs and practices” on its nearly one million hourly employees. the audit team will be led by loretta lynch, a former u.s. attorney general. why alibaba, bilibili, jd are trading lower today chinese tech stocks are extending losses on tuesday in the premarket session, seeing further erosion of their already-weakened valuations. a few things are working in the minds of investors ahead of the market open in the united states. the cues from hong kong, which opened after monday’s public holiday, are not very encouraging. alibaba holdings, inc. (nyse: baba ) shed over 4% in hong kong and tencent holdings limited (otc: tcehy ) ended 2.78% lower. the weakness seen in premarket trading is attributable to regulatory risk that has continued to pressure these stocks since the start of 2021. $30 per hour and more: what apple nyc store staff looking to unionize are demanding apple, inc. (nasdaq: aapl ) store workers in new york city’s grand central terminal working toward unionizing have come up with some concrete demands. the store workers are urging apple to pay a minimum hourly wage of $30, among other things, updated information posted on their website showed. calling itself fruit stand workers united, the union is seeking benefits such as increased tuition reimbursement, faster accrued, and more vacation time, among other things. apollo global said to consider an offer for twitter, ready to team up with elon musk private equity firm apollo global management (nyse: apo ) is open to teaming up with tesla inc (nasdaq: tsla ) ceo elon musk or any other bidder to finance a twitter inc (nyse: twtr ) buyout, the wall street journal reported on monday, citing people familiar with the matter. apollo is the latest private equity firm after thoma bravo lp last week reportedly contacted twitter to express interest in putting together an acquisition offer that would rival musk’s $43 billion bid. apollo’s participation to finance a deal would be through its credit investment platform and not its private equity business, according to the report. photo via wikimedia commons | 2022-04-19 |
as opposed to expectations for a drawn-out soap opera, it took just three weeks for tesla, inc. (nasdaq: tsla ) ceo elon musk to force the twitter inc. (nyse: twtr ) board into yielding. twitter confirmed monday it has agreed to be taken private by musk for $54.20 per share, or $44 billion in aggregate. but musk won't be the first high-profile corporate titan to take over a prominent media company. here are seven media buys that involved a corporate executive: 1. bezos buys washington post: amazon, inc. (nasdaq: amzn ) founder jeff bezos bought the washington post newspaper from the graham family for $250 million in cash. the deal was consummated in september 2013. amazon, however, did not have any part in the acquisition. the publication's decision to sell came out of the motive to stay afloat amid dwindling revenue growth due to the emergence of digital media. 2. red sox' john henry laps up boston globe: john henry, the founder of investment management firm john w. henry & company, bought the boston globe from the new york times company (nyse: nyt ) in 2013 for $70 million. the publication came into the fold of the times with the latter's 1993 acquisition of affiliated publications, which also included the boston globe. 3. alibaba buys scmp: chinese internet giant alibaba group, holdings, inc. (nyse: baba ), led then by its founder jack ma bought south china morning post and its media assets, for $266 million in december 2015. related link: here's how much twitter ceo could walk away with if elon musk shows him the door 4. adelson takes control of las vegas review-journal: the las vegas review-journal, nevada's largest newspaper, was bought by sheldon adelson , the then chairman and chief executive officer of las vegas sands corp. (nyse: lvs ). the transaction took place in december 2016, although the buyer's name was kept anonymous for some time. the deal was valued at $140 million. 5. jobs' widow buys atlantic: laurene powell jobs, the widow of apple, inc. (nasdaq: aapl ) co-founder steve jobs took a majority stake in the atlantic in july 2017. 6. biotech executive scoops up la times: patrick soon-shiong acquired the los angeles times and san diego union-tribune, both based out of southern california, in june 2018 for $500 million. soon-shiong, who began his career as a transplant surgeon, is credited with the invention of chemotherapy medication abraxane, and he is the name behind several healthcare, biotech and artificial intelligence startups. 7. salesforce founder buys time: marc benioff, the founder of salesforce, inc. (nyse: crm ), purchased time magazine for $150 million in september 2018. benioff and his wife lynne benioff bought the publication from meredith corporation. just like bezos, the two have clarified that salesforce did not have any role in the purchase. photo: esther vargas , flickr | 2022-04-26 |
bloomberg here’s how paypal helped trigger eu antitrust allegations against apple paypal holdings, inc (nasdaq: pypl ) helped provoke a formal antitrust complaint against apple inc (nasdaq: aapl ) and its iphone payments system by raising concerns with the european commission. apple allegedly only lets its payment system use the iphone’s nfc chip. apple’s act hampered paypal, block, inc’s (nyse: sq ) cash app, samsung electronics co, ltd (otc: ssnlf ), and alphabet inc’s (nasdaq: goog ) (nasdaq: googl ) google. european regulators attacked apple for allegedly abusing its influence over mobile payments by reserving the iphone’s tap-to-pay abilities for its own apple pay service. paypal, which has its payment service, offers a tap-to-pay option on android phones and wants to provide the same feature on apple’s iphone. facebook pulls out of podcast endeavour facebook rebranded meta platforms, inc (nasdaq: fb ) has pulled out of podcasts, looking to remove them from the social-media service starting june 3, taking the edge off spotify technology s.a. (nyse: spot ). facebook had announced various audio efforts in april 2021 to tap the budding market ruled by spotify. the metaverse-focused company seemed more focused on its growing rivalry with tiktok via short-form videos reels. reels now make up over 20% of the time spent on instagram. facebook will halt its short-form audio product soundbites and remove its central audio hub. facebook will integrate live audio rooms into facebook live, suggesting users can choose to go live with just audio or audio and video. india’s largest ipo raises $736m ahead of listing, attracts foreign investment india’s largest-ever public offering attracted anchor investors, including norway’s sovereign wealth fund and the singaporean government, raising ₹56.3 billion ($736 million) ahead of its ipo. the 123 anchor investors joining life insurance corp of india’s ipo committed to purchasing shares at ₹949 per share, the top end of a marketed range. the investors included the norwegian fund, the singapore government, and 15 domestic mutual funds accounting for 71% of the anchor allocation. lic has a 60% market share of india’s 24-company-strong life insurance market. citigroup’s erroneous transaction behind drop in european stocks as per the bloomberg report, a citigroup inc’s (nyse: c ) trader made a mistake “inputting a transaction,” the bank said, after a selloff in swedish stocks in five minutes wreaked havoc, wiping out €300 billion ($315 billion) at one point. the bank said it identified the error “within minutes” and corrected it. the incident is a fresh setback to citigroup’s efforts to improve controls. citigroup in talks with potential buyers for russia retail ops chief executive officer jane fraser said that citigroup inc (nyse: c ) is reportedly in “active dialog” with potential buyers of its consumer and commercial banking operations in russia. investors had grown increasingly concerned that russia’s invasion of ukraine and the resulting financial sanctions upon many of russia’s largest banks -- would thwart citigroup’s efforts to exit its operations in russia. fraser said citigroup still intends to sell those divisions, even as it continues to serve corporate clients in the region, writes bloomberg. amid sec suit, former nomura trader admits lying to clients a former nomura holdings inc’s (nyse: nmr ) senior trader admitted lying to clients about bond prices but said it was a common practice and never impacted clients’ investment decisions. james im, who led nomura’s commercial mortgage-backed securities trading desk from 2009 to 2014, took the stand in his defense against the securities and exchange commission suit, accusing him of lying to boost the firm’s profits and bonus bloomberg writes. reuters google’s internal conflict over ai research on chip design jeopardizes millions of dollars in government grants alphabet inc (nasdaq: goog ) (nasdaq: googl ) google recently terminated a senior engineering manager for allegedly debunking and harassing its landmark research on ai software. google scientists azalia mirhoseini and anna goldie discovered that ai could complete a critical step in the design process for chips, or floorplanning, faster and better than an unspecified human expert. however, other google scientists, led by satrajit chatterjee, found that two alternative approaches based on essential software outperform ai. goldie accused chatterjee of harassing her and mirhoseini for years by spreading misinformation about them. the conflict could disrupt the flow of millions of dollars in government grants for research into ai and chips. venture capitalists exhibit fomo, invest in growing crypto universe venture capital investment in crypto projects reached a record $10 billion globally in the first quarter of 2022. the full-year vc investment in crypto projects for 2019 was $3.7 billion, $5.5 billion for 2020, and $28 billion for 2021. the m&a deals involving crypto target companies also ballooned globally, with 73 deals sealed in 2022 worth $8.8 billion versus 51 deals worth $6.8 billion in 2021. experts saw that investment levels in crypto continued to grow amid a bitcoin price slump in 2022 and another decline last summer, and a slump in the tech-heavy nasdaq benchmark helping crypto firms bag good bargains. wall street journal activist investor ancora urges hasbro to sell entertainment one unit ancora holdings inc , the activist investor that has a 1% stake in hasbro inc (nasdaq: has ) has urged the toy maker to sell its entertainment one unit. ancora, through a letter sent to the company’s board, also wanted hasbro to replace longstanding directors on its board. ancora has joined the ranks of the other activist investor, alta fox, that had earlier urged the toy maker to consider spinning off its wizards of the coast gaming unit. financial times nvidia fallout: boris johnson makes final attempts to woo arm to list in london instead of new york u.k. prime minister boris johnson is giving a final push to convince softbank -backed chip maker arm ltd to list in london instead of new york, according to a financial times report. the report added that u.k. ministers, alongside executives from the london stock exchange (lse), are trying to persuade the japanese conglomerate amid growing concerns over lasting damage if britain’s best-known tech company chooses new york for its public offering. meanwhile, a u.k. government spokesperson told reuters by email that “following last year’s record number of tech ipos in london, we continue to work hard to support and encourage all firms to list here. we hope arm will continue to build its business here, drawing on the u.k.’s unrivaled mix of skills and capital.” this came after softbank shelved the sale of arm to u.s. chipmaker nvidia corp (nasdaq: nvda ) in a deal valued at up to $80 billion, citing regulatory hurdles. benzinga tesla confirms annual shareholder meeting in august, delays proxy filing: what this means for investors after delaying the filing of its proxy statement, tesla, inc. (nasdaq: tsla ) confirmed the date for its annual shareholder meeting. tesla’s annual shareholder meeting will be held on august 4 in austin, texas, the company confirmed through a tweet on its official twitter handle. the announcement comes close on the heels of the filing of an amended 10-k/a annual report on monday, wherein tesla said it would delay the filing of its definitive proxy statement for the 2022 annual meeting of stockholders. tesla sounded out its intention of announcing a stock split through an 8-k filing in late march. when tesla solicited questions from shareholders that needed to be addressed on the earnings call, the most upvoted question was regarding the split ratio. edward snowden reacts to roe v. wade: ‘someone may have put a lot on the line to warn you of this’ nsa whistleblower edward snowden early tuesday reacted to a politico report — citing a leaked draft opinion written by justice samuel alito — that said the supreme court is planning to overturn the historic 1973 judgment of roe v. wade. “someone may have put a lot on the line to warn you of this. it doesn’t matter who they are or why they did it: their role is complete,” snowden, who now resides in russia, said. “what matters now is how you respond.” someone may have put a lot on the line to warn you of this. it doesn’t matter who they are or why they did it: their role is complete. the roe v. wade judgment ensured constitutional protection of abortion rights for women. this is the first time snowden has tweeted in over two months. the computer intelligence consultant sent out his last tweet in february to address russia’s invasion of ukraine, which was in contrast to his predictions. you can now stream apple music on roku devices apple inc’s (nasdaq: aapl ) music streaming service is now available on roku inc’s (nasdaq: roku ) platform globally. apple music’s subscribers would be able to stream music on any roku device, including streaming players, roku tv models, and roku streambar pro . roku users who sign up for apple music through the roku channel store can receive a 1-month free trial, according to the statement. other music options on roku include pandora, iheartradio, tunein, and spotify technology s.a.’s (nyse: spot ) platform. apple tv has been available on amazon.com, inc’s (nasdaq: amzn ) fire tv service since 2019. rumors of alibaba founder getting arrested spread after report says china put ‘curbs’ on person with same surname chinese authorities have placed an individual with the last name ma under “compulsory curbs” in the city of hangzhou, bloomberg news reported on tuesday, citing state broadcaster cctv. hangzhou is the home base of jack ma -founded alibaba group holding ltd (nyse: baba ) and its affiliate ant group . the person was placed under “curbs” on april 25 after being accused of inciting subversion of state power and other activities that endangered national security, the report said. the usually flamboyant ma has had numerous run-ins with the beijing administration and has been keeping a low profile since late 2020. alibaba shares slid more than 9% in hong kong following the news. cathie wood sells another $6.4m in tesla - adds to stake in these 2 stocks cathie wood -led ark investment management booked more profit in tesla inc (nasdaq: tsla ) on monday as shares in the electric vehicle firm rose and increased exposure to zero-commission trading app maker robinhood markets inc (nasdaq: hood ). st. petersburg, florida-based ark invest sold 7,146 tesla shares, estimated to be worth $6.45 million. the popular stock-picking firm owns shares in tesla through three of its six actively traded exchange funds: ark innovation etf (nyse: arkk ), ark autonomous technology & robotics etf (bats: arkq ), and ark next generation internet etf (nyse: arkw ). the three etfs held 1.3 million shares worth $1.13 billion in tesla before monday’s trade. ark bought 189,451 shares, estimated to be worth $2.83 million, in draftkings inc (nasdaq: dkng ). the sports betting company’s stock closed 9.58% higher at $14.99 on monday and is down 46% ytd. photo via wikimedia commons | 2022-05-03 |
reuters ihg hotels & resorts on way to recovery as travel booms intercontinental hotels group plc (nyse: ihg ) ihg hotels & resorts said its first-quarter revenue per room neared pre-pandemic levels. the rise in demand for hotel stays in the u.s. during spring break has lifted occupancy rates, reuters reported. q1 revpar, or revenue per available room, was up 61% over the same period in 2021, reaching 82% of the 2019 level. tesla battery supplier catl said to actively explore sites for us manufacturing plants tesla, inc. (nasdaq: tsla ) battery supplier catl is reportedly considering setting up manufacturing plants in the united states. ningde, china-based catl is in the final stages of evaluating sites for constructing battery manufacturing plants in the u.s., reuters reported, citing people with knowledge of the plans. the world’s largest battery manufacturer also plans to use the proposed sites to make ev batteries for ford motor co (nyse: f ) and bmw ag (otc: bmwyy ), the report said. the chinese company is looking at sites in south carolina and kentucky, where these two automakers have manufacturing plants, the report added. us regulators reach china for audit deal discussions u.s. regulatory officials arrived in beijing seeking to settle a long-running dispute over the auditing compliance of u.s.-listed chinese firms. the stand-off, if not resolved, could see chinese firms kicked off new york bourses. this week the sec added over 80 firms to the list of companies facing possible expulsion. if this visit goes as planned, the pcaob will likely send a larger team to china later this year to conduct on-site audits of local auditors, according to the source. tesla will run two shifts at shanghai plant from may 16 tesla, inc (nasdaq: tsla ) looks to run two shifts at its shanghai plant from may 16, reuters reports. the additional shift would enable the ev maker to return factory output to pre-lockdown levels. tesla aims to churn out 2,600 electric cars from the shanghai plant per day. wall street journal facebook deliberately caused chaos in attempt to thwart unfavorable australian law, whistleblowers allege whistleblowers have alleged that meta platforms inc -owned (nasdaq: fb ) facebook’s act of blocking news pages in australia was a deliberate negotiating tactic to thwart a potential law. meta had publicly called the resulting chaos “inadvertent,” but the whistleblowers said it was to exert maximum negotiating leverage over the australian parliament, which was voting for the law that required platforms like facebook and alphabet inc’s (nasdaq: googl ) (nasdaq: goog ) google to pay news outlets for content. the report said that the social media giant last year created an algorithm to identify pages that would affect the most publishers — instead of using facebook’s long-established database of existing news publishers. closely watched bausch + lomb ipo priced below expectations bausch + lomb corp (nyse: blco ) has priced its initial public offering at $18/share, falling short of expectations as it became the first big company in months to try going public in a turbulent stock market, writes wall street journal. bausch health companies inc (nyse: bhc ), the parent company, raised $630 million in the offering. according to a regulatory filing, bhc aimed to raise as much as $840 million and sell the stock at $21 - $24 a share. bloomberg sap battles gender-diversity, harassment claims sap se ads (nyse: sap ) chief christian klein failed to impress critics with his response to the lack of gender diversity at a cloud computing event. multiple sap employees disclosed that networking events involve heavy drinking, resulting in unwelcome advances from senior male managers toward female colleagues. some women who have complained about unfairness found hr to be unhelpful or hostile, moving women to other roles or pushing them out of the company entirely. apple, microsoft to be hit as china bans foreign computers, os in government offices china has asked its central government agencies and state-backed corporations to replace all foreign pc hardware and operating systems with domestic alternatives within two years. the chinese government, which has been regularly barring certain products from procurement lists to promote chinese items, told the staff of state-owned firms to turn in foreign pcs for inhouse chinese alternatives, according to the report. the move is one of the most aggressive pushes by beijing as part of its decade-long campaign to replace imported technology with local alternatives due to rising privacy concerns. elon musk’s $400m backing from a 16z for twitter also brings facebook in the picture andreessen horowitz’s bid to join tesla inc (nasdaq: tsla ) ceo elon musk in his takeover of twitter inc (nyse: twtr ) could reportedly spur a conflict or two. the silicon valley venture capital firm’s involvement in the musk-twitter deal is under the scanner as co-founder, and general partner marc andreessen has been on the board of facebook parent meta platforms inc (nasdaq: fb ) since 2008, reported bloomberg. another general partner at andreessen horowitz, vineeta agarwala, is married to twitter’s current ceo parag agrawal. financial times fake meat producers fight it out for patents the battle for vegan beef burgers intensified as unimaginable meals, a plant-based meat producer, and motif foodworks fight for patent infringement. unimaginable has claimed that motif has infringed its patent defending the invention of a beef duplicate product that makes use of heme, a molecule containing iron. unimaginable filed a lawsuit in a delaware court docket in march, which was challenged by motif last week. benzinga apple will no longer accept indian debit, credit cards for app purchases: here’s why apple inc (nasdaq: aapl ) will no longer be accepting indian debit and credit cards as a payment method for apps and subscriptions on the app store. the company told its users via email that it won’t be accepting cards issued by indian banks because of india’s central bank guidelines of the new auto-debit rules that came into force last year. however, the customer may add cards issued by banks of other nations for payments. it’s not just apple, other subscription-based businesses such as amazon.com inc (nasdaq: amzn ), netflix inc (nasdaq: nflx ), and alphabet inc’s (nasdaq: googl ) (nasdaq: goog ) google were also affected after the central bank introduced the new rules in october. tesla’s india team shifts focus to wider apac region amid regulatory woes tesla inc (nasdaq: tsla ) may now be headed to the larger asia-pacific (apac) market as it continues to face regulatory challenges in india, according to an economic times report. elon musk-led tesla’s india foray has been mired in red tape for a long time. the company has been facing headwinds due to high import duty levied by the indian government, and it has been lobbying the government to reduce the rates. currently, india levies a 60% import duty on evs priced at $40,000 or less and 100% duty on evs priced at more than $40,000. come june, facebook will no longer tell you when your friends are nearby meta platforms inc (nasdaq: fb ) social media platform facebook is reportedly pulling the plug on “nearby friends” and some other location-based features. the mark zuckerberg-led platform said time alerts, location history, and background location are also getting the ax, according to a report from 9to5mac. the features will no longer be available after may 31, 2022. however, some data such as the user’s location history will be available for download until aug. 1, 2022, according to the report. fda limits use of johnson & johnson’s covid-19 vaccine to certain individuals - all you should know the fda said it was limiting the use of johnson & johnson’s (nyse: jnj ) covid-19 vaccine for adults due to the risk of a rare blood clotting syndrome. the j&j shot can be administered in cases where authorized or approved covid-19 vaccines are not accessible, or if an individual is less keen on using the other two shots, the fda said. the fda said the risk of tts warranted limiting the use of the single-dose shot after it investigated reported cases. lfg surpasses tesla to become second largest corporate bitcoin holder the luna foundation guard (lfg) now holds $3.5 billion worth of bitcoin btc/usd for its stablecoin reserves. lfg acquired another 37,863 btc worth $1.5 billion in otc swaps from genesis trading and three arrows capital. lfg is now one of the top 10 holders of bitcoin in the world. with 80,394 btc worth over $3.5 billion, lfg currently holds more bitcoin than tesla inc (nasdaq: tsla ). coinbase nft marketplace sees under 150 users on day one the widely anticipated launch of coinbase global inc’s (nasdaq: coin ) nft marketplace appears to have had an underwhelming first day. according to data from dune analytics seen by decrypt, coinbase nft had under 150 users on the first day of being open to the public. the platform was launched on wednesday and saw only $75,000 worth of ethereum eth/usd traded at the end of the day. boeing will shift base to arlington as it seeks closer ties with washington boeing co (nyse: ba ) on thursday said it would shift its corporate headquarters to arlington, virginia from chicago, illinois — a move that would help its senior management and other key members get closer to decision-makers at the white house. the planemaker said its arlington, virginia campus just outside washington, d.c. will serve as its global headquarters and bring it closer to “customers and stakeholders.” boeing said it also plans to develop a research and technology hub in the arlington area. photo via wikimedia commons | 2022-05-06 |
shares of u.s.-listed chinese companies alibaba group holdings ltd. (nyse: baba ), jd.com inc. (nasdaq: jd ), nio inc. (nyse: nio ), xpeng inc. (nyse: xpev ) are not trading in hong kong on monday as local markets remain closed for a public holiday. the benchmark hang seng is closed on the occasion of easter, although markets in mainland china are open. shanghai's sse composite index was down 0.78% at the time of writing and shenzhen component index was down 0.2%. china-based u.s-listed firms will trade on american exchanges on monday. factors at play: since the second outbreak of covid-19 in china's economic hub shanghai, the country reported its first deaths today, as per bloomberg. according to cnn , at least 44 chinese cities are under either a full or partial lockdown as authorities grapple with curbing the spread of covid-19. meanwhile, hong kong confirmed 747 new coronavirus cases on sunday as residents stepped out during the long-weekend easter break after restrictions were eased. see also: analyst details tesla's giga shanghai reopening plans: here's how it works | 2022-04-18 |
cnbc ford motor selling 8m shares of rivian automotive ford motor company (nyse: f ) will sell 8 million rivian automotive inc (nasdaq: rivn ) shares, according to a cnbc report. the post-ipo lockup period for rivian ends on sunday. ford will sell the shares with the help of goldman sachs group inc (nyse: gs ). in march, rivian reported fourth-quarter revenue of $54 million, missing a consensus estimate of $60 million. reuters hyundai motor set to open new ev facility in georgia, us: reuters hyundai motor company (otc: hymtf ) is planning a new electric-vehicle manufacturing plant in the u.s. the company has held discussions with officials in georgia, the report further noted. when finalized, the georgia facility would serve both hyundai and kia for their fully electric suvs, the ioniq 7 and ev9, aimed at the u.s. market. “we are excited to announce a new ev plant plan in the united states soon, but we do not have details to share at this stage,” hyundai motor said in a statement to reuters. ikea to invest €3b in expansion; lays out plan for ecommerce adoption ingka group, the largest ikea retailer, plans to invest €3 billion ($3.2 billion) through 2023 in new and existing stores. the company will focus its expansion investments in new physical stores and revamp existing ones to support the increasing demand for e-commerce and home deliveries. tolga öncü, retail operations manager, ingka group, noted close to €1.2 billion invested in london. president biden did not consult global energy partners before its massive reserve release the international energy agency members have become worried that u.s. president joe biden is using the strategic petroleum reserve (spr) to put a cap on domestic inflation for political reasons, reuters reported citing two sources. according to the sources, the agency said the reserve release does not protect consumer countries from global supply disruption. “the iea was embarrassed by the (u.s.) release, which was at the start done essentially unilaterally by the u.s.,” said a source familiar with the diplomacy around the release. wall street journal at&t, comcast, verizon, others join government’s low-income broadband plan twenty internet providers agreed to help offer high-speed internet to millions of unconnected households through the bipartisan infrastructure law. the companies included at&t inc (nyse: t ), comcast corporation (nasdaq: cmcsa ), and verizon communications inc (nyse: vz ). the companies agreed to increase their internet speeds or cut prices to ensure that all eligible households can tap into high-speed internet plans up to $30 a month. moderna files motion to dismiss covid-19 vaccine related patent claims moderna inc (nasdaq: mrna ) is trying to fight off rival companies’ patent infringement claims related to its covid-19 vaccine, arguing that the companies may only pursue their claims by seeking royalties from the federal government. as per wall street journal report, moderna filed a motion to dismiss some of the patent-infringement claims in the lawsuit filed by arbutus biopharma corp (nasdaq: abus ) and genevant sciences gmbh in federal court in delaware. bloomberg saudi minister links refining capacity crisis to surging fuel price saudi arabia’s energy minister attributed the lack of global refining capacity to the surge in the gap between the price of crude oil and fuels that could discourage investors. crude and refined-fuel markets are firmly in backwardation, marked by near-term futures commanding a premium to those further out. the downward-sloping curve means the companies’ long-term price assumptions are much lower than current levels. financial times defense companies experience supply issues as demand for us weaponry surges northrop grumman corporation (nyse: noc ) ceo kathy warden gave both good and bad news: the aerospace company anticipates increased demand for its weapons systems, but supply chain issues may hinder efforts to increase output, reported financial times. “proper now, it’s a query of how can we scale manufacturing to backfill stockpiles?” warden stated on the financial membership of washington, dc on wednesday. she has also acknowledged labor shortages. following russia’s invasion of ukraine, the most prominent us aerospace defense businesses are set to benefit as western nations re-calibrate their safety procedures and increase defense spending. benzinga be ready: new airpods pro, fresh colors for airpods max could be coming this fall updated airpods pro will launch in the fall alongside new colors for the airpods max over-the-ear headphones, according to apple inc (nasdaq: aapl ) -focused journalist mark gurman. the fall launch for airpods pro was likely because the original model was released in fall 2019. gurman said, “the batteries are already in trouble for some early adopters,” in his weekly newsletter, according to an apple insider report. the airpods max refresh would reportedly encompass new colors. however, the analyst did not elaborate on what the new colors would be. tesla a decade away from hitting full ev autonomy, china future uncertain, says morgan stanley analyst tesla inc (nasddaq:tsla) is over a decade away from achieving full autonomy at scale for its electric vehicles and its long-term future in china is uncertain, according to morgan stanley. the tesla analyst: morgan stanley analyst adam jonas has maintained an ‘overweight’ rating and a $1,300 price target on the elon musk-led company’s shares. the tesla thesis: jonas said he believes any expectations around tesla’s full self-driving (fsd) technology majorly boosting margins are overestimated. apple said to be planning instacart-like service and this would be the x factor apple, inc. (nasdaq: aapl ) is reportedly exploring a new addition to its services business, underlining cupertino’s focus on this rapidly-growing unit. what happened: apple has considered launching an instacart-like service and has also discussed ways of differentiating it from the incumbent, bloomberg columnist mark gurman reportedly said in reply to a reader query in his power on weekly newsletter. instacart is a california-based company that offers grocery delivery and pick-up service in the u.s. and canada through its website and mobile app. since such services are low-margin businesses and highly unprofitable, apple could exercise caution before dipping its heels into the arena, the apple writer reportedly said. more trouble brews for alibaba, tiktok and others as china intensify livestream crackdown china’s ban on younger users from sending virtual gifts on livestream platforms could hamper companies, including alibaba group holding limited (nyse: baba ), tiktok parent bytedance ltd, and kuaishou technology (otc: kshty ), scmp reports. the government prohibited livestream apps from providing minors with facilities for online transfers or virtual gift-purchase services. in addition, the government also ordered platforms to stop providing livestream feeds to minors after 10 p.m., bloomberg reports. terra plans $750m bitcoin’ loan’ to market makers to defend ust peg the luna foundation guard (lfg) plans to loan $750 million worth of bitcoin btc/usd to market makers as part of a wider strategy to protect the ust stablecoin peg. the terra luna/usd blockchain’s stablecoin terrausd ust/usd briefly lost its peg to the u.s. dollar on saturday in what the community described as a “coordinated attack.” the weekend’s events prompted the lfg council to come out with a way to tackle the issue. robinhood lists 2 new crypto products: what you need to know popular retail brokerage robinhood markets inc (nasdaq: hood ) has listed two new cryptocurrency products. what happened: in an announcement on friday, barry silbert, founder of grayscale parent digital currency group (dcg), said robinhood had listed the grayscale bitcoin trust gbtc and grayscale’s ethereum trust ethe. wechat gives cues on why elon musk’s ambitious twitter revenue plan is ‘achievable:’ analyst tesla inc (nasdaq: tsla ) ceo elon musk’s plan to quadruple twitter inc’s (nyse: twtr ) revenue to $26.4 billion by 2028 is “achievable,” according to noted apple inc (nasdaq: aapl ) analyst ming-chi kuo. what happened: kuo said sunday evening that twitter’s business may be partially similar to the one run by chinese internet giant tencent holdings limited (otc: tcehy ), the company behind the super-app wechat. kuo pointed out in a twitter thread that tencent’s revenue from social networking — including subscriptions — advertising, and fintech and business service in 2021 was $17.6 billion, $13.3 billion, and $25.8 billion, respectively. instagram to integrate nfts from ethereum, solana, and polygon: what you need to know meta platforms inc’s (nasdaq: fb ) instagram is soon going to integrate nfts (non-fungible tokens) from ethereum eth/usd, polygon matic/usd, solana sol/usd, and flow. according to the report, meta is expected to make an official announcement on this as early as next week. additionally, instagram will not charge users for posting and sharing nfts. instagram will feature a small group of nft enthusiasts based in the u.s. during the initial integration phase. photo via wikimedia commons | 2022-05-09 |
reuters kkr to scoop this power company at 36% premium u.s. private-equity firm kkr & co inc (nyse: kkr ) agreed to acquire power generation company contourglobal plc (otc: gloff ) for £1.75 billion ($2.16 billion). kkr will pay £2.64 for each share of contourglobal, representing a 36% premium to its may 16 closing price. contourglobal operates 138 thermal and renewable power plants across europe, latin america, north america, and africa. wall street journal fda gives nod to first nonprescription covid-19 test that also detects flu, rsv the fda has authorized the first nonprescription test to detect covid-19, influenza, and respiratory syncytial virus (rsv). the test, called the labcorp seasonal respiratory virus rt-pcr dtc test, was developed by laboratory corp of america holdings (nyse: lh ). it can be sold directly to consumers online or at retail. a person can self-collect a nasal swab sample at home and then send that sample to labcorp for testing. troubled ev maker lordstown motors’ survival hopes rests on fresh funds, valuation lordstown motors corp (nasdaq: ride ) cfo acknowledged difficulties in sustaining the business for at least another year after selling its factory to apple inc (nasdaq: aapl ) supplier hon hai precision industry co ltd (otc: hnhpf ). adam kroll found it challenging to sustain pending more funding and a surge in market valuation. lordstown needs to raise an additional $150 million in the capital before the 2022 end to execute its plans of building about 500 vehicles . bloomberg alibaba, tencent to post lack-luster quarterly results as domestic regulatory crackdown takes a toll fastest growing companies like alibaba group holding limited (nyse: baba ) and tencent holding ltd (otc: tcehy ) are struggling to keep up with even the most staid utilities amid china’s crackdown on internet giants. tencent’s results on may 18 will likely show a revenue growth of a mere 4.3% in the march quarter. alibaba’s revenue will likely grow by 7.1%. the companies will see record lows and lag the 8.6% average growth reported by the ten largest utilities, including duke energy corp (nyse: duk ) and southern company (nyse: so ) last year. rivian in dispute with supplier commercial vehicle group rivian automotive inc (nasdaq: rivn ) shares fell about 6% on monday on word the ev startup is in dispute with commercial vehicle group inc (nasdaq: cvgi ), a key seat supplier. the probable dispute would jeopardize rivian’s delivery van contract with amazon.com , inc. (nasdaq: amzn ), the report added. rivian alleged in a lawsuit that commercial vehicle group, a new albany, ohio-based auto parts manufacturer, threatened to stop supplying seats unless the carmaker agreed to pay twice the price. financial times warren buffett exits wells fargo and buys stake in its rival bank berkshire hathaway inc (nyse: brk-b ) bought $3 billion worth of shares in citigroup inc (nyse: c ) in q1, giving the group a stake of about 2.8%, according to filings with regulators. the investment came as berkshire sold the remainder of its position in wells fargo & co (nyse: wfc ), a rival bank that had been a staple in buffett’s portfolio for more than three decades. new york times fda may authorize pfizer-biontech’s covid-19 booster for 5-11 year kids soon the fda is expected to authorize a booster shot of pfizer inc (nyse: pfe )/ biontech se’s (nasdaq: bntx ) covid-19 vaccine for children aged 5 to 11 probably by today, the new york times reported, citing people familiar with the matter. the companies submitted an application to the fda for authorization last month. they have cited data from a mid-to-late-stage study showing the third dose of their shot increased protection against the original coronavirus version and the omicron variant among children aged 5-11 years. benzinga why united airlines shares are trading higher today united airlines holdings, inc. (nasdaq: ual ) updated its financial outlook for second-quarter 2022. the company stated that the demand environment has continued to improve following the previous guidance, resulting in a higher unit revenue outlook for q2. meanwhile, ual noted that oil price has also increased, resulting in a higher expected fuel price for the quarter. shareholders rejected intel’s top executive compensation just a month after it painted dismal q2 outlook intel corp (nasdaq: intc ) shareholders rejected compensation packages for top executives, including a payout of as much as $178.6 million to ceo pat gelsinger. shareholders cast 1.78 billion votes against executive compensation at the annual meeting. shareholders cast 921.2 million votes in favor of the compensation. the vote is non-binding. elon musk getting’ cold feet’ on twitter deal? analyst says bots issue an excuse to lower price or walk away tesla inc (nasdaq: tsla ) ceo elon musk is likely using the bots issue as a scapegoat to walk away from his $44 billion deal to buy twitter inc (nyse: twtr ) or negotiate a lower price, according to wedbush securities analyst dan ives. “a changing stock market/risk environment the last month, and a number of other financing factors have caused musk to get “cold feet” on the twitter deal, with the bot issue not a new [one] and likely more of a scapegoat to push for a lower price,” ives wrote in a note. “the elephant in the room for the twitter board is musk can walk away for a $1 billion as a small breakup fee ... and likely cite the bot/fake account issue as the reason, even though this likely would be contested by twitter in the courts.” coming soon: order a tesla or polestar for your uber ride across the world in these cities uber technologies inc (nyse: uber ) will soon let users in select cities across the world book a tesla inc (nasdaq: tsla ) or a polestar electric vehicle for their rides, as it seeks to accelerate its 2030 electrification ambitions. the uber comfort electric feature is making a debut in los angeles, san francisco, san diego and dubai, and the car rental company said it plans to add more cities soon. “last year, we teamed up with hertz to give drivers an option to rent a tesla. this partnership plans to get 50,000 teslas on the road by 2023,” sachin kansal, uber’s vice president of product, said. daimler truck clocks 17% revenue growth in q1 aided by strong demand situation daimler truck holding (otc: dtruy ) said high demand has cushioned it from rising raw materials prices and inflationary pressures as the company posted a 7.9% year-on-year rise in first-quarter fy22 sales. daimler expects fy22 sales of 500,000 – 520,000 and raised fy22 revenue outlook to €48.0 - €50.0 billion from €45.5 - €47.5 billion. us baby formula crisis could see some relief as fda, abbott agree on deal the baby formula shortage that has morphed into a crisis in the u.s. could soon see some relief following an agreement between market leader abbott laboratories (nyse: abt ) and the food and drug administration. abbott announced late tuesday that it has agreed to enter into a consent decree with the fda regarding the restart of production at the former’s sturgis, michigan infant formula plant. abbott, which through its abbott nutrition arm manufactures baby formula, voluntarily recalled powdered infant formulas produced at the plant in mid-february due to reports of bacterial contamination. the plant was shut down following the death of two infants and the indisposition of four more. key boeing china customer said to have scrapped over 100 jets from delivery plans key boeing co (nyse: ba ) customer china southern airlines co has removed more than 100 of its 737 max jets from its fleet plans due to uncertainty over deliveries, bloomberg news reported on monday, citing the airlines. china southern airlines expects to take delivery of 78 aircraft through 2024, down from 181 in a previous forecast in march. max was not included due to “uncertainty surrounding the delivery,” the report said, citing an airline representative. bitcoin sees $299m weekly inflows despite terra (luna) disaster bitcoin btc/usd recorded its largest weekly inflows this year even as the chaos surrounding terra luna/usd sent markets plummeting last week. according to last week’s coinshares report examining fund flows into digital asset products, bitcoin saw $298.6 million worth of inflows for the week ended may 13. meanwhile, ethereum eth/usd products continued to see an exodus of capital with outflows totaling $27 million for the week. apple now lets apps charge more for subscriptions without user consent in some cases: what it means for you apple inc (nasdaq: aapl ) says app creators will be able to charge hiked subscription fees to users without the need for an opt-in. the tim cook-led company issued an update on monday saying that “uncer certain specific conditions” and “with advance notice” developers will be able to offer an auto renewable subscription price increase without the user needing to take any action. the iphone maker laid out the specific conditions which induce a price increase that doesn’t exceed $5 and 50% of the subscription price, or $50 and 50% for an annual subscription price. the price increase should also be permissible under local law. spotify said to be testing out nft previews for artists music streaming platform spotify technology sa (nyse: spot ) is reportedly testing out a way for artists to display their nfts on their artist pages. a spokesperson from spotify told music ally that the platform is “running a test in which it will help a small group of artists promotes their existing third-party nft offerings via their artist profiles.” included in this list of artists are steve aoki and the wombats that have already displayed their nfts on the platform. elon musk reacts to dogecoin creator’s tweet that 95% of crypto is ‘scams and garbage’ dogecoin doge/usd co-creator billy markus appreciated tesla inc (nasdaq: tsla ) ceo elon musk’s reaction to a tweet in which the latter touched upon the poor reputation of cryptocurrencies and people associated with the segment. markus tweeted that the reason why people think “crypto is 95% scams and garbage and most crypto people are assholes is because crypto is 95% scams and garbage and most crypto people are assholes.” tiger global exits rivian, netflix stakes in q1 — doubles down on these chinese ev makers instead hedge fund tiger global dissolved its stake in rivian automotive inc (nasdaq: rivn ) and netflix inc (nasdaq: nflx ) in the first quarter and significantly lowered its exposure to uber technologies inc (nyse: uber ). it more than doubled its positions in chinese ev makers xpeng inc (nyse: xpev ) and li auto inc (nasdaq: li ), according to regulatory filings. the chase coleman-founded hedge fund, popular for its mega bets on technology firms, completely exited its position in rivian, the high-profile ev maker that went public last year and has been under pressure after missing some key production and delivery targets. tiger global sold all of the 751,000 shares in rivian it held at the beginning of the year. rivian shares slumped 55% in the first quarter to $46.44. the stock is down 76% year-to-date. photo via wikimedia commons | 2022-05-17 |
benzinga has examined the prospects for many investor favorite stocks over the past week, while offering a 24/7 news feed, live chat and charting software on benzinga pro . it was another difficult week for investors as stock prices continued to fall amid high volatility. it was the eighth straight weekly loss for the dow industrials, the longest weekly losing streak for the index since 1932. the s&p 500 and nasdaq experienced their seventh consecutive weekly declines, a streak that hasn't been seen since 2001. all three indexes saw losses of close to 3% for the week. investors are bracing for further downside as china continues its zero-covid policy, russia maintains military operations in ukraine, and the fed pursues its monetary tightening policy to get inflation under control. benzinga continues to examine the prospects for many of the stocks most popular with investors. here are a few of this past week's most bullish and bearish posts that are worth another look. the bulls " longtime netflix bear upgrades the streaming stock, but is it a better investment than disney ," by adam eckert, looks at why wedbush analyst michael pachter upgraded netflix inc (nasdaq: nflx ) from a neutral rating to an outperform rating. " is crypto dead? coinbase has a message for skeptics as it turns 10 ," by samyuktha sriram, highlights a new ad released by crypto exchange coinbase global inc (nasdaq: coin ) targeted at doubters of the cryptocurrency industry, by declaring "long live crypto." in " tesla bull cathie wood scoops up $11.5m in bill gates-backed biotech's stock ," rachit vats details exactly how many shares of ginkgo bioworks holdings inc (nyse: dna ) were purchased this week by cathie wood's ark investment management. for additional bullish calls of the past week, check out the following: 6 high-yield dividend stocks to buy and hold in a volatile market is amd stock leading investors into a trap? what you need to know to avoid getting caught why palantir may rally 27% from this bullish pattern the bears " morgan stanley cuts rivian price target: ev maker needs to restore confidence it can be 'the one' to challenge tesla ," by rachit vats, reports on morgan stanley analyst who says that after its blockbuster listing last year, rivian automotive inc (nasdaq: rivn ) needs to ‘pace itself’ in the near term to be able to reinforce investor confidence. in " michael burry is betting against apple: here's the size of 'the big short' investor's stake ," chris katje details the size of a short position michael burry has taken on apple inc (nasdaq: aapl ) which was revealed in a recent 13f filing. " one of warren buffett's favorite fund managers exits entire alibaba position ," by shanthi rexaline, explains why one of warren buffett 's favorite investors sold his entire holdings of alibaba group holding inc (nyse: baba ), but maintained his position in jd.com inc (nasdaq: jd ). for more bearish takes, be sure to see these posts: as netflix crashes 25%, 'the big short' fame's michael burry warns of a similar fate for tesla elon musk says us is already in a recession, could last up to 18 months before 'boom time again' apple exec who quit over return-to-work policy jumps ship to google keep up with all the latest breaking news and trading ideas by following benzinga on twitter. | 2022-05-21 |
reuters redbird capital buys italian football club ac milan redbird capital partners entered into a definitive agreement to acquire associazione calcio milan (ac milan) club, newly crowned champions of serie a, from elliott advisors uk limited, for 1.2 billion euros ($1.3 billion). the transition to new ownership will take place over the summer, with closing expected in september 2022. elliott to retain a minority financial interest in the club and seats on the board of directors, solidifying a partnership between redbird and elliott. pfizer to quit gsk’s consumer health jv following its spin-off pfizer inc. (nyse: pfe ) intends to sell its 32% investment in haleon, a consumer health joint venture with gsk plc (nyse: gsk ), after the business is spun out as an independent listed company in july, reported reuters. pfizer had previously indicated that it might seek to sell its stake in haleon, a consumer health company and the maker of sensodyne toothpaste and advil pain relievers. gsk has filed to the u.k.’s regulator to list haleon on the london stock exchange on july 18 and is expected to apply to the new york stock exchange soon. australia, new zealand express support to address usa baby food crisis makers of baby food explored supply opportunities to the u.s. after it relaxed its import policy to address a nationwide crisis. australia is in talks with the u.s. to supply baby food. two million cans of formula from the u.k. are going to american shores. bubs australia agreed to supply 1.25 million cans under a u.s. food and drug administration deal. several dairy firms in australia and new zealand, including leading dairy exporter fonterra, were also in similar discussions with the fda. volkswagen chief sees ev war intensifying with tesla volkswagen ag (otc: vwagy ) chief saw tesla, inc (nasdaq: tsla ) needs to ramp up highly complex factories and find qualified workers to win the electric vehicle race as volkswagen also sped up. tesla, which posed a challenge to german ev production with its new plant near berlin, was privileged by a blank slate to start and a small number of models. volkswagen ceo herbert diess acknowledged much momentum coming at volkswagen, which will undoubtedly be tight in coming years. lamborghini sees e-fuel super cars in its range beyond 2030: reuters italian luxury sports car manufacturer lamborghini, part of volkswagen ag (otc: vwagy ), is preparing to have at least two supercars powered by e-fuels in its range beyond 2030. in a newspaper interview, chief executive officer stephan winkelmann said the company plans to convert its entire fleet to a hybrid between 2023 and 2024, with its first full-electric model expected at the end of the decade. “we do not yet know if there will be a large enough quantity of this fuel to meet the needs of all manufacturers,” the report quoted winkelmann. bloomberg deutsche bank’s dws ceo resigns - read why deutsche bank ag (nyse: db ) asset management subsidiary dws said its chief executive officer asoka woehrmann is set to step down on june 9. the resignation has happened following a search by investigators amidst the controversy surrounding the executive and allegations that the company inflated its esg credentials, bloomberg reported. woehrmann will be succeeded by stefan hoops, who will take responsibility for asset management at the group level. in addition, hoops will become ceo of dws group with effect from june 10, 2022. this french utility looks to use google’s experimental tech to boost wind power french utility engie sa (otc: engqf ) looks to begin using an experimental technology from alphabet inc (nasdaq: goog ) (nasdaq: googl ) google to boost efficiency and power from wind farms. engie will be the first customer to use google’s feature, sold via its cloud division. engie looks to more than double its renewable power generation to 80 gigawatts by 2030. in 2019, google acknowledged working with deepmind to make artificial intelligence software that could predict wind power output thirty-six hours in advance. financial times softbank, goldman, porsche procure stake in this ev maker’s latest funding round, valuing it over €2b softbank group corp (otc: sftby ) (otc: sftbf ) and goldman sachs group, inc (nyse: gs ) invested in croatian electric supercar maker rimac in a euro 500 million ($536 million) funding round, giving it a valuation of over euro 2 billion. volkswagen ag’s (otc: vwagy ) porsche automobile holding se (otc: poahy ), one of the first carmakers to back the business, presently owns a 20% stake, the techcrunch reports. rimac also plans to hire 700 staff this year, complete the development of a new $200 million campus for rimac’s zagreb, and develop and produce batteries, software, and other components for electric cars. benzinga senator sherrod brown asks wells fargo to right past wrongs the chairman of the u.s. senate banking committee, senator sherrod brown has asked wells fargo & co (nyse: wfc ) to put a full stop to its mismanagement practices. in an open letter to the bank’s ceo charles scharf, the senator laid out its history of consumer abuses and gross mismanagement and urged to right past wrongs. nio vs. xpeng vs. li auto: how may deliveries stack up u.s.-listed chinese electric vehicle manufacturers nio, inc. (nyse: nio ), xpeng, inc. (nyse: xpev ), and li auto, inc. (nasdaq: li ) appear to be bouncing back in may, as china begins to allow restricted operations. the trio, however, suggested recovery is gradual as supply chain partners begin to pick up their shreds. the may numbers: shanghai-headquartered nio reported deliveries of 7,024 vehicles in may. this included 746 es8s, 2,936 es6s, and 1,635 ec6s, all belonging to the class of suvs, and 1,707 et7 sedans nio launched in late march. et7 sales improved notably from the 693 units nio sold in april. ethereum sees 1.2m failed transactions in may the ethereum eth/usd network recorded over 1.2 million failed transactions in may. according to data from blockchain data explorer blockchair, there were 1,23,998 failed eth transactions recorded over the last month. when a transaction fails, the funds that were meant to be transferred remain in the sender’s wallet, but the gas fee is still deducted. alibaba’s fraught relations with india see accountant get in a pickle india’s apex court has directed government authorities not to threaten or take action against a chartered accountant who allegedly assisted alibaba group holdings (nyse: baba ) indian cloud unit in business incorporation. the supreme court of india directed the registrar of companies (roc) and the maharashtra police not to take any coercive action against c.a. anand kidambi until further orders, according to the economic times. kidambi and alibaba india’s cloud unit are a part of a nationwide investigation in india against more than 700 firms as it cracks down on chinese companies in india. elon musk calls dogecoin co-creator a’ tool’ tesla inc (nasdaq: tsla ) ceo elon musk crossed swords with dogecoin doge/usd co-creator jackson palmer following the latter’s comments about the billionaire entrepreneur to australian news outlet crikey. what happened: in the interview, palmer said he had earlier developed a bot (or script) to detect cryptocurrency scams on twitter (nyse: twtr ). warren buffett-backed byd plans to buy 6 african lithium mines: here’s how many evs they can cater to china’s byd co (otc: byddy ) is looking to acquire six lithium mines in africa, cnevpost said on tuesday, citing a source-based report from another domestic media outlet. shenzhen, china-based byd has estimated that the six mines have more than 25 million tons of lithium ore, which could meet the demand for 27.78 million vehicles with 60-kwh batteries. some of the mines will start shipping next month and are expected to be available for use in byd’s blade batteries in the third quarter, the report said. cardano (ada) seen weakening after outperforming bitcoin, ethereum, dogecoin in past week cardano ada/usd traded 10.8% lower at $0.5982 over 24 hours at the time of writing. the price is seeing weakness on wednesday after the coin significantly outshone major cryptocurrencies like bitcoin, ethereum and dogecoin doge/usd over the past week. cardano was among the most mentioned coins on twitter, according to cointrendz data. the three most mentioned coins at press time were bitcoin, ethereum, and solana. the 24-hour trading volume for ada rose 42% to $2.6 billion, according to coinmarketcap data. alert: facebook parent’s stock ticker will no longer be ‘fb’ from this date facebook parent meta platforms inc’s (nasdaq: fb ) class a common stock will start trading with a new ticker soon. the mark zuckerberg-led company will debut its new ticker symbol “meta” on june 9, 2022, when the market opens. meta will replace the social network and metaverse behemoth’s current symbol “fb” on the same day, according to a statement. photo via wikimedia commons | 2022-06-01 |
trading volume is critical for small-window options traders, as it gives insight into how many contracts have been purchased on an options strike. a high-volume option can provide liquidity, giving investors a better opportunity to sell their contracts over those with lower volumes. using data sourced in benzinga pro , we can identify contracts that are attracting large volumes during thursday’s trading session. the highest volume option alerts of the day come from the following companies: tesla inc (nasdaq: tsla ) apple inc (nasdaq: aapl ) alibaba group holding ltd - adr (nyse: baba ) amazon.com, inc (nasdaq: amzn ) symbol type strike dte bid ask volume tsla call 800.00 1 1.23 1.26 43,241 aapl put 145.00 1 0.89 0.90 34,974 amzn put 120.00 1 1.41 1.44 29,666 baba put 110.00 1 2.36 2.40 28,289 aapl call 148.00 1 0.73 0.73 28,235 amzn put 120.00 225 13.25 13.40 27,842 aapl call 150.00 1 0.27 0.28 27,706 amzn call 120.00 225 14.90 15.05 27,664 aapl call 147.00 1 1.10 1.11 26,825 tsla call 750.00 1 11.70 11.80 22,353 | 2022-06-09 |
reuters blackstone closes in crown bid after australia approvals: reuters blackstone inc (nyse: bx ), the investment management company, is likely to take the reins of australia’s crown resorts after the country’s regulators approve the bid. the blackstone - crown resorts ltd buyout is expected to be about $6.3 billion. united states helps to keep taiwanese warships in service the u.s. has cleared a possible $120 million sale of parts to assist taiwan in maintaining its warships, which the island’s defense ministry said would help assure combat readiness in the face of china’s “frequent activities” near the island. the u. s. defense security cooperation agency stated that it had submitted the requisite certification to congress following state department approval for the sale, which was requested by taiwan’s de facto embassy in washington. state street might tap credit suisse as takeover interest credit suisse group ag (nyse: cs ) could receive a takeover offer from u.s. financial giant state street (nyse: stt ), stated a media report a day earlier. what happened: according to reuters, state street indicated overnight that it was focused on the pending acquisition of brown brothers harriman’s investors services business, following a report by inside paradeplatz on wednesday that it was planning a takeover attempt and may approach credit suisse. wall street journal us schedules covid-19 vaccines for children below five years the u.s. government is preparing to launch vaccines for children below five in conjunction with educational and outreach efforts, pending approval by federal regulators, the wall street journal reports. the government looks to provide ten million initial doses as the virus spreads nationwide, leaving the parents anxious. the vaccinations could begin by june 21, subject to the regulatory approval for moderna, inc (nasdaq: mrna ), pfizer, inc (nyse: pfe ), and partner biontech se (nasdaq: bntx ) bloomberg here’s why alibaba shares are trading lower premarket after brief jump alibaba group holding ltd (nyse: baba ) shares gave up the gains in premarket trading after china snubbed previous reports of the revival of the ipo of its fintech affiliate ant group co. the news of revival reflected possible ease in china’s domestic tech crackdown, bloomberg reports. china had reportedly formed a team to reassess ant’s share sale plans. india’s apollo global, reliance make a binding offer for uk’s boots apollo global management inc. (nyse: apo ) and ambani’s reliance industries ltd. led consortium have made a binding offer for walgreens boots alliance inc.’s (nasdaq: wba ) international arm, reported bloomberg, citing people familiar with the matter. the source stated that the proposal values boots at more than £5 billion ($6.3 billion). walgreens is seeking a valuation of around £7 billion for boots. after competing suitors began to reconsider, the move might put apollo and reliance in pole position to buy boots. financial times palantir plans to bid for £360m uk nhs contract palantir technologies inc (nyse: pltr ), the data analytics company, is planning to expand its role in u.k.’s national health service (nhs) ·the company is planning to bid a £360 million contract to be the underlying working system for the uk’s nationwide well- being service. benzinga key takeaways from us’s new standards for national ev charging network the u.s. transportation department (usdot) proposed minimum standards and requirements for electric vehicle (ev) charging projects funded under a $5 billion government program. the government sought 50% of all new vehicles sold to be electric or plug-in hybrid electric models and 500,000 new ev charging stations by 2030, which could serve as a significant breakthrough for ev makers like tesla, inc (nasdaq: tsla ) and others. the new standards made charging evs convenient, reliable, and affordable for all americans, including driving long distances. tesla blocked by california judge from challenging race-bias lawsuit tesla inc (nasdaq: tsla ) cannot halt the california department of fair employment and housing’s (dfeh) lawsuit alleging widespread race discrimination at an assembly plant, reuters reported on wednesday, citing a judge. the electric automaker has challenged dfeh’s ability to sue employers after the agency in its lawsuit claimed tesla’s flagship fremont plant was racially segregated and black workers were harassed and discriminated against in terms of job assignments, discipline and pay. google maps will now display air quality: how to enable it alphabet, inc.’s (nasdaq: googl ) (nasdaq: goog ) google maps, currently the most used navigation application, has added a new feature that lets you gauge a vital piece of information. both android and ios users in the u.s. can now use google maps to check air quality, an update rolled out by the tech giant earlier this month on its pixel smartphones. this feature can be accessed from the ‘air quality layer’ on google maps. australia sues airbnb with allegations of duping customers into paying more amid the widening scrutiny against global technology platforms, the australian antitrust watchdog has filed a lawsuit against airbnb inc (nasdaq: abnb ), accusing it of misleading users into paying more. the australian competition and consumer commission (accc), in a court filing, said the vacation rentals company, between at least january 2018 and august 2021, misled customers by advertising and charging room rates in u.s. dollars without indicating the figures in australian dollars. why is shiba inu (shib) buying pressure surging on coinbase? meme-based cryptocurrency shiba inu shib/usd saw an uptick in buy orders on coinbase global inc (nasdaq: coin ) on thursday. according to trading data from the cryptocurrency exchange, 63% of coinbase traders increased their shib position over the last 24 hours. “increased buying activity can signal that the asset is gaining popularity,” read coinbase’s description of its trading activity metric. tesla bounces back with strong may sales in china, clocking 2000% sequential rise tesla, inc. (nasdaq: tsla ) has bounced back big in china in may after a grossly underwhelming performance in the previous month. tesla’s wholesale sales of china-made vehicles totaled 32,165 units in may, reuters reported, citing data from the china passenger car association. this represented a 3.8% year-over-year decline from the 33,463 cars sold in may 2021. the may performance is a notable 2000% improvement from the 1,512 cars tesla sold in china in april. the company did not export any cars during the month. alibaba faces us lawsuit over selling defective printer that led to a death in fire accident alibaba group holding, inc. (nyse: baba ) is reportedly facing a legal challenge in the u.s. over a defective product that was sold on its website. parents of a san francisco man, who died in 2020 when the 3d printer caught fire, have sued alibaba over allegedly selling a defective device through its u.s. website, called aliexpress, bloomberg reported. the printer was reportedly manufactured by chinese electronics company tronxy technology. apple spins off bnpl unit, quietly plans another financial initiative apple inc (nasdaq: aapl ) has spun off a wholly-owned subsidiary to handle lending for its recently introduced ‘buy now pay later’ service. apple financing llc has acquired state lending licenses and will function independently of apple to facilitate the new pay later service, reported apple insider, citing a bloomberg report. this marks apple’s foray into incorporating loans and credit assessments and other financial businesses into the company, according to the report. photo via wikimedia commons | 2022-06-09 |
reuters rebranded mcdonald’s restaurants to reopen in russia russia’s fast-food scene is in for a huge overhaul as former mcdonald’s corp (nyse: mcd ) restaurants are set to reopen under new branding and ownership. the fast-food restaurant chain was opened about three decades ago in early 1990. us top court to decide on bayer’s roundup weedkiller appeal the u.s. supreme court will likely reveal its decision over offering a clean chit to bayer a.g.’s (otc: bayzf ) roundup weedkiller. bayer sought the review of an appeals court that sustained $25 million in damages awarded to a user of glyphosate-based weedkiller roundup, who blamed his cancer on the product. bayer urged the court to determine federal approval of roundup’s product label by the environmental protection agency as it challenged the lawsuit’s viability under california’s state law. wall street journal facebook appears to migrate investments from news to better compete with tiktok news organizations stand to lose revenue worth tens of millions of dollars as meta platforms, inc’s (nasdaq: meta ) facebook reassessed its commitment to paying for news. in 2019, facebook agreed to three-year deals with multiple publishers, which were due for renewal in 2022. facebook paid average annual fees of over $15 million to the washington post, just above $20 million to the new york times, and more than $10 million to the wall street journal. cryptocurrency companies reduce hiring in response to market downturn coinbase global inc (nasdaq: coin ) revoked employment offers to people who accepted them and announced a slowing of its hiring pace in recent weeks. another cryptocurrency exchange, gemini trust co., lost 10% of its workforce, citing the effects of the market downturn. in response to the ongoing crypto price collapse, cryptocurrency firms have slowed their spending frenzy. bloomberg disney to fight it out with asia’s richest man for ipl rights as amazon said to bow out amazon, inc. (nasdaq: amzn ) is reportedly planning to drop off the race for rights to stream the indian premier league (ipl) cricket matches. amazon backing out? the e-commerce retailer’s prime video streaming platform, which has already invested about $6 billion in india, is unwilling to cough up another $7.7 billion — the estimated cost of securing rights to the biggest cricketing bonanza for a multi-year period from 2023 to 2027 — bloomberg reported, citing people familiar with the matter. the development comes as a surprise as amazon was widely touted as the frontrunner in the race. the ipl is a multi-week cricket tournament played in april and may annually and attracts huge viewership in a cricket-crazy country with a population of about 1.4 billion people. chanel owners pocket $5b windfall on post-pandemic boom french luxury fashion brand chanel’s owners raked in a $5 billion windfall in 2021. citing the u.k. filings, the report noted wertheimer family, which owns the brand, got two $2.5 billion dividends in 2021 through their cayman islands-based holding company. the surge in the global demand for chanel’s products shot the owner’s fortunes to new highs. analysts tout this apple supplier’s $100b meltdown as buying opportunity - read why analysts do not seem worried about taiwan semiconductor manufacturing company ltd’s (nyse: tsm ) share slump that wiped off $100 billion in value, bloomberg reports. analysts see the stock as a screaming buy. according to bloomberg’s analyst compilation, tsmc shares will likely climb ~50% to a record high in 12 months as macro headwinds ease and investors focus on the company’s fundamentals. tsmc dominates the global technology supply chain as the most advanced maker of chips for giants from apple inc (nasdaq: aapl ) to nvidia corp (nasdaq: nvda ). benzinga fear of recession is creating a recession: apple analyst puts out theory the economy has given enough reasons for investors to fret. with higher inflation and slower growth portending further trouble ahead, noted apple, inc. (nasdaq: aapl ) analyst gene munster delved into how the economic picture will shape up in the near term. recession fear building up: the c-suite is looking to trim management jobs for the first time in a few years, the loup funds managing partner said, citing a recruiter working with fortune 500 companies. the analyst said he thinks fear is building among management teams about a potential slowdown. tesla calls off online hiring drives in china after elon musk’s job warning tesla inc (nasdaq: tsla ) has called off three online recruitment events in china that were scheduled to take place this month, reuters reported on friday, citing notifications on social messaging app wechat. elon musk-led tesla canceled the events saying it was “overstaffed” in some areas. the three events were scheduled to take place on june 16, 23, and 30 to hire talent for positions in sales, r&d and tesla’s supply chain. gsk shows positive pivotal phase iii data for its rsv vaccine candidate gsk plc (nyse: gsk ) intends to engage with regulators immediately after reporting positive headline results from a pre-specified efficacy interim analysis of the aresvi 006 phase iii trial, it anticipates regulatory submissions in the second half of 2022. aresvi 006 is a phase iii trial investigating gsk’s respiratory syncytial virus (rsv) vaccine candidate for adults aged 60 years and above. an independent data monitoring committee reviewed the interim analysis, and the primary endpoint was exceeded with no unexpected safety concerns observed. sec launches probe on ericsson over its iraq connection the u.s. sec intimated ericsson (nasdaq: eric ) regarding its launch of an investigation on the company concerning the matters described in the company’s 2019 iraq investigation report. ericsson said it cooperated with the authorities regarding their review and investigation of its conduct in iraq. previously ceo borje ekholm’ disclosed that ericsson may have made payments to the isis terror organization to gain access to specific transport routes in iraq. mastercard brings payments network to nfts and web3 payments giant mastercard inc (nyse: ma ) is opening up its payments network to nfts and web3. in an announcement on thursday, the company said it was working with a number of nft marketplaces and web3 infrastructure providers to make the process of buying nfts easier and safer. “for nft creators, these changes grow their potential customer base to millions more people all over the world,” said raj dhamodharan, the head of digital asset and blockchain products at mastercard. alibaba cracks after jack ma’s ant group denies ipo plans the shares of alibaba group holdings (nyse: baba ) cracked after its financial affiliate ant group refuted media reports claiming that beijing had formed a team to reassess ant’s stalled initial public offering. billionaire jack ma controlled ant group in a statement that said that it currently has no plans for the ipo. “under the guidance of regulators, we are focused on steadily moving forward with our rectification work and do not have any plan to initiate an ipo,” it said in a statement. nasa to study ufos and let you know what it finds nasa is commissioning a study on unidentified aerial phenomena, known in common parlance as unidentified flying objects or ufos. what happened: the federal agency’s study team will begin examining the phenomena in early fall from a scientific perspective, according to a statement on thursday. nasa said that given the “limited number” of ufo sightings, it is difficult to draw scientific conclusions about their nature. apple retail chain once owned by gamestop to shut down apple inc (nasdaq: aapl ) authorized retailer and service provider simply mac is reportedly ending operations and letting go of all its employees. simply mac ceo rein voigt mentioned the covid-19 pandemic in a letter to employees as a reason for setbacks suffered by the retailer, appleinsider reported. “we could not have possibly foreseen that on december 12, 2019, in wuhan, china, a worldwide pandemic would start and ultimately cause us to lay off half our workforce and close many of our stores,” said voigt. fidelity ceo says bear market is the time to go ‘extra hard’ into crypto fidelity investments ceo and chairman abigail johnson is unfazed by the downturn in the cryptocurrency market, reported coindesk on thursday. speaking at consensus 2022, johnson revealed that the current bear market is her “third crypto winter.” “there’s been plenty of ups and downs, but i see that as an opportunity.” twitter will soon alert you about new product drops: how it works twitter inc (nasdaq: twtr ) says it is launching a new feature that will send notifications when sellers drop new products. “product drops” was announced by the jack dorsey-founded company in a blog post on wednesday. twitter said when a merchant tweets about an upcoming launch, its users will see a “remind me” button at the bottom of the tweet, which will set up an alert once the product is available for sale. what’s next for nio: 4 things the chinese automaker is planning nio inc - adr (nyse: nio ) shares are down more than 4% in reaction to the weak guidance issued by the company for the second quarter. softer guidance does not come as a surprise, as production was stalled for about three weeks in april, the first month of the quarter, due to the covid-19 lockdowns in china. even after the restart of production, the ramp-up has been slow and steady. nio is optimistic about the way forward. photo via wikimedia commons | 2022-06-10 |
cnbc jpmorgan remains bullish on alibaba and other chinese stocks - here’s why jpmorgan saw some respite for the chinese stocks like alibaba group holding limited (nyse: baba ) and tencent holding ltd (otc: tcehy ) following relaxation in lockdowns and regulatory pressures. chinese markets got ravaged due to its “zero-covid” strategy and lockdowns stifling economic activity, with a double whammy from the regulatory crackdowns. the retreat reflects china’s realization of the unsustainability of the covid policy and some respite in their regulatory approach towards the tech titans to stimulate the economy, strategist tilmann galler said. more pain ahead for ethereum? celsius crashes 55% as it halts withdrawals over ‘extreme market conditions’ cryptocurrency lending firm celsius cel/usd says it is pausing all withdrawals, swaps, and transfers between accounts. celsius said in a statement late sunday it is taking the steps “due to extreme market conditions.” “we are announcing that celsius is pausing all withdrawals, swap, and transfers between accounts. we are taking this action today to put celsius in a better position to honor, over time, its withdrawal obligations,” the firm said. reuters blackrock’s equity index clients will now be able to control votes in agm of invested companies blackrock inc (nyse: blk ) said that clients owning nearly half of its $4.9 trillion in equity index assets could control vote casting at the annual meetings of the companies in which their funds invest, reuters reported. the move marks an expansion of blackrock’s ‘voting choice’ program, launched last october, and could offer institutional clients more say on topics that matter to them, reuters reported. “while blackrock’s voting choice program is an industry first, we see it as just a beginning,” salim ramji, global head of ishares and index investments, said. ferrari likely to shed light on its ev endeavor ferrari n.v. (nyse: race ) ceo benedetto vigna will soon elaborate on maintaining its cachet and top-tier prices amid growing competition from electric cars. the italian luxury sports carmaker will likely showcase its business plan on june 16. ferrari has already introduced four hybrid models and pledged its ev debut in 2025. ferrari considered collaborations to access new technologies, including bio and synthetic fuels, while controlling capital expenditure. benzinga dhl hikes parcel delivery prices for private customers deutsche post’s (otc: dpsgy ) dhl paket has adjusted its prices for private customers, and the logistic giant will charge more for parcel deliveries from july 1, 2022. the company mentions that the higher transport, delivery, and labor costs and general cost inflation make price increases in national and cross-border parcel business unavoidable. prices in retail outlets will also increase slightly for the päckchen s and m product categories. apple has been working on ar glasses for over 27 years: what we know so far this is the second article of a two-part deep dive into apple inc.’s (nasdaq: aapl ) development of its two upcoming mixed reality (mr) device lines. before reading any further, we suggest reading our explanation of augmented reality (ar), virtual reality (vr), mr, and extended reality (xr), as well as the first article of this series. apple is expected to launch a vr headset with passthrough ar features for professionals at a hefty $3,000 next year after it will ready its even more ambitious ar-focused glasses for general consumers. that is the first generation of a device meant to replace the iphone further down the line, at a much more accessible price of $499. the cupertino tech giant has been working on ar and vr at least since 1995. teco 2030 launches hydrogen tanker concept with partners teco 2030 (otc: tecff ) is launching a hydrogen-powered tanker concept, hy-ekotank, together with our partners ektank ab, shell shipping and maritime, and dnv. the hydrogen-powered tanker will allow zero-emission at berth and up to 100% reduction of ghg emissions during the voyage. “we are humble to work on hy-ekotank with ektank, shell and dnv, as we believe these partners are a perfect match. with a cargo owner, shipowner, classification society, and a fuel cell provider, we will show the world what hydrogen is capable of doing for the maritime shipping industry.” says tore enger, group ceo, teco 2030. “remember, it is all about eliminating emissions, and increasing value-adding activities.” why is dogecoin crashing so hard today? dogecoin doge/usd traded over 11% lower at $0.06 over 24 hours leading up to early monday. the price of doge crashed along with other major coins as the global cryptocurrency market plunged 7.5% to $1.02 trillion. over $3.1 million worth of doge was liquidated over 24 hours as the price of the meme coin dropped heavily, according to coinglass. major coins declined over the weekend after inflation came in hotter than expected by analysts on friday. pfizer/biontech’s three-dose covid-19 vaccine safe, effective in younger kids according to the fda briefing document, pfizer inc (nyse: pfe )- biontech’s se (nasdaq: bntx ) covid-19 vaccines were effective and safe for children aged six months to 4 years. the fda reviewers said that their evaluation did not reveal any new safety concerns related to using the vaccine in young children. the fda analysis of data from pfizer’s trial was published ahead of a june 14-15 meeting of its outside advisers. sanofi-gsk’s next-gen covid-19 booster shows potential against variants of concern sanofi sa (nasdaq: sny ) said the next-gen covid-19 vaccine candidate it has developed with gsk plc (nyse: gsk ) in two trials showed a potential to protect against the virus’s main variants of concern when used as a booster. in the phase 3 vat02 cohort 2 study, the vaccine candidate showed a 15-fold increase against the parent virus and a 30-fold increase against beta strain in adults previously primed with mrna covid-19 vaccines. in particular, against omicron, preliminary data show a 40-fold increase against ba.1. $500m liquidated in 24 hours as bitcoin (btc) plunges to $25k level the last 24 hours saw high-value liquidations across crypto markets as bitcoin btc/usd dropped as low as $25,117. according to data from coinglass, at the time of writing around $513 million was liquidated from over 180,000 traders. the majority of liquidations were seen by traders in long positions — a total of $339 million longs were liquidated while $169 shorts were liquidated. amazon asked to pay $25m fine to future group in india in a blow to u.s. e-commerce giant amazon inc (nasdaq: amzn ), the national company law appellate tribunal (nclat) of india upheld the competition watchdog’s order suspending approval of the investment deal between amazon and a future group firm dating back to 2019. the tribunal has also ordered amazon to pay the penalty of inr 200 crore ($25 million) within 45 days for non-disclosure of relevant information on combinations under the competition act, 2002, bar and bench reported. confirming the competition commission of india’s ruling, the tribunal said that it is in full agreement with the antitrust watchdog that the u.s.-based e-commerce giant had not fully disclosed its strategic interest in future retail ltd — a future group’s firm. troubled michigan-based ev startup to file for bankruptcy michigan-based electric vehicle startup electric last mile solutions inc (nasdaq: elms ) said on sunday it plans to file for chapter 7 bankruptcy. the late sunday disclosure follows a series of developments at the startup, including the resignation of its ceo jim taylor and chairman and founder jason luo, linked to share purchases and subsequent regulatory investigation. “based on the findings of the same board-initiated investigation that led to the resignations of mr. taylor and mr. luo, elms was forced to withdraw financial guidance and declare the company’s past financial statements unreliable,” the startup said. tesla gets indonesia invite to set up massive ev factory: report tesla, inc. (nasdaq: tsla ) has reportedly received an invite from indonesia to add to its list of growing factories across the world. indonesia has asked tesla to set up an electric vehicle manufacturing plant near batang regence in the central java province, teslarati reported, citing luhut pandjaitan, indonesia’s coordinating maritime affairs and investment minister. the proposed plant will likely have an annual production capacity of 500,000 cars, possibly powered by renewable sources, the report said. google engineer suspended after saying ai chatbot is sentient a senior software engineer at alphabet inc’s (nasdaq: goog ) (nasdaq: googl ) google has reportedly been put on administrative leave after revealing some confidential insights about the company’s artificially intelligent chatbot generator lamda. blake lemoine shared transcripts of his conversations with lamda featuring a three-way conversation between himself, a google collaborator and lamda (or language model for dialogue applications.) in the “interview” with lamda, conducted over several sessions, lemoine and the ai chatbot generator touched on the latter’s sentient nature and its existential fears. photo by wikimedia commons | 2022-06-13 |
reuters warner bros discovery to undergo major global ad sales team restructuring warner bros. discovery, inc (nasdaq: wbd ) could downsize up to 30% or nearly 1,000 jobs in its global advertising sales team, reuters reports. warner offered members of its u.s. advertising sales team an option to leave the company voluntarily. the global advertising sales team has ~3,000 members. biden questions oil companies on lack of gasoline amid increasing prices as u.s. president joe biden faces pressure over rising gasoline prices, he demanded oil companies explain why more gasoline is not in the market. biden wrote to executives from marathon petroleum corp (nyse: mpc ), valero energy corporation (nyse: vlo ), and exxon mobil corp (nyse: xom ) and complained that they had reduced oil refining to beef up their profits, according to a copy of the letter seen by reuters. “at a time of war, refinery profit margins well above normal being passed directly onto american families are unacceptable,” biden wrote. iqiyi shares trade lower on reports of possible stake sale baidu, inc (nasdaq: bidu ) is exploring selling its controlling stake in iqiyi, inc (nasdaq: iq ) at a potential valuation of ~$7 billion. baidu, which owns 53% of iqiyi and holds over 90% of its shareholder voting rights, looks to sell all its holdings in china’s netflix, inc (nasdaq: nflx ) counterpart. baidu’s targeted valuation of $7 billion represents a price of ~$8.13 per share, implying a 74% premium on its june 14 close of $4.67. over 100 ceos including alphabet, amazon, microsoft press for china competition bill a broad coalition of 123 ceos and senior executives representing major sectors of the american economy and millions of u.s. workers urged congress to pass legislation to amplify u.s. economic competitiveness, including in chip manufacturing. the semiconductor industry association (sia), which organized the letter signing, claimed it was the largest group of corporate leaders to endorse the bill. ceos from alphabet inc (nasdaq: goog ) (nasdaq: googl ), amazon.com inc (nasdaq: amzn ), and microsoft corp (nasdaq: msft ) requested the u.s. house of representatives and senate to approve legislation aimed at strengthening u.s. economic competitiveness against china. l3harris technologies eyes israeli spyware firm nso l3harris technologies inc (nyse: lhx ) is planning to acquire israeli spyware firm nso group, reuters reported, citing u.s. and israeli media. the deal is expected to be finalized after being approved by israel, the u.s., and l3harris’ board of directors. a separate report published by intelligence online has shed light on the white house’s concerns about the deal sparking counterintelligence and security concerns. qualcomm wins eu antitrust lawsuit which has an apple connection qualcomm inc (nasdaq: qcom ) clinched victory against a €997 million ($1.05 billion) penalty slapped by eu antitrust regulators. the eu imposed the fine four years back for paying apple inc (nasdaq: aapl ) to use only its chips and block out rivals like intel corp (nasdaq: intc ). the european commission alleged qualcomm of engaging in anti-competitive practice between 2011 and 2016 by paying billions of dollars to apple to use its chips in all its iphones and ipads. fda committee backs moderna’s covid-19 shot for kids, adolescents: report moderna inc’s (nasdaq: mrna ) covid-19 vaccine received unanimous backing from the fda’s committee of independent immunization experts for children ages 6 through 17. reuters reported that there is limited chance for a significant immediate demand for the moderna shots for 6- to 17-year-olds. it cited pfizer inc (nyse: pfe )/ biontech se’s (nasdaq: bntx ) vaccine authorization for children aged 5 to 11 in october and approval for teenagers in a couple of months. wall street journal softbank-backed mental health startup cerebral under ftc scrutiny the federal trade commission (ftc) has begun investigating mental-health startup cerebral inc on its potential engagement in unfair practices related to advertising or marketing of services. the ftc letter, reviewed by the wall street journal, also directed the company to preserve documents. in particular, the commission seeks information related to the program(s) where cerebral continues to bill customers a subscription fee until the customer cancels, also called “negative option programs.” zendesk explores settlement discussions with activist investor jana partners customer engagement software solutions portfolio provider zendesk, inc (nyse: zen ) is exploring settlement options with activist investor jana partners llc, days after the software company failed to divest itself. the truce could call for the exit of ceo mikkel svane and director carl bass. bass, the former ceo of autodesk inc (nasdaq: adsk ), is zendesk’s lead independent director and chair of the board’s compensation committee. bloomberg bill gates slams crypto, nfts: shams based on ‘greater fool theory microsoft corp (nasdaq: msft ) co-founder bill gates has launched a barge of criticism against cryptocurrencies and non-fungible tokens (nfts) on tuesday. the former microsoft executive said cryptocurrency projects like nfts were shams “based on the greater fool theory” at a climate conference hosted by the publication techcrunch, reported bloomberg. gates did not hold back on the sarcasm and said, “obviously, expensive digital images of monkeys are going to improve the world immensely.” how many subscribers disney could due to setback in india in the e-auction for the multi-year rights to the indian premier league cricket tournament, a joint venture between paramount global (nasdaq: para ) and mukesh ambani’s reliance industries won the streaming rights, outbidding incumbent holder walt disney company (nyse: dis ). the loss of ipl streaming rights may have cost disney 20 million subscribers, bloomberg reported, citing estimates from media partners asia. this could leave disney+ streaming service facing an uphill task to achieve the global subscriber goal of 260 million by 2024. financial times bp purchases 40% stake in green hydrogen project in australia bp plc (nyse: bp ) is acquiring the largest stake in a vast solar, wind, and green hydrogen project in western australia that will cost more than $30 billion to develop. the energy company stated that it has agreed to buy 40.5% of the asian renewable energy hub, which it will also operate, making it one of its biggest renewable energy bets. financial terms were not disclosed. developed by partners intercontinental energy, cwp global, and macquarie, the 6,500 square kilometers site in the pilbara mining region has the potential to be one of the largest renewable power hubs in the world. benzinga dogecoin (doge) gears up to launch major project dogecoin doge/usd developer michi lumin said tuesday that a project that encompasses building blocks for projects based on the meme coin may be launched soon. lumin shared an update on twitter which indicated that the libdogecoin v0.1 release is getting closer. libdogecoin will encompass a “complete implementation’ of dogecoin protocols as a c library, which will allow anyone to create a dogecoin-compliant product without having to deal with specifics of cryptocurrency functions, according to the dogecoin foundation. ford to recall 49,000 mustang mach-es over this safety issue ford motor co (nyse: f ) is asking dealers to temporarily pause selling the mustang mach-e electric crossovers due to a potential safety defect that could cause the vehicles to become immobile, cnbc reported on tuesday, citing a company notice. dearborn, michigan-based ford is recalling about 49,000 of the roughly 100,000 mach-es that it produced between may 27, 2020, through may 24, 2022. the affected mach-es were built at ford’s cuautitlan plant in mexico. pfizer halts enrollment in paxlovid covid-19 trial in standard-risk population pfizer inc (nyse: pfe ) shared additional data from the phase 2/3 epic-sr study of paxlovid (nirmatrelvir and ritonavir tablets) in patients at standard risk for developing severe covid-19. in previously reported interim analyses, the novel primary endpoint of self-reported, sustained alleviation of all symptoms for four consecutive days was not met. non-significant 70% relative risk reduction was observed in the key secondary endpoint of hospitalization or death. alibaba goes amazon way to develop in-house silicon alibaba group holding limited (nyse: baba ) offered a glimpse at its in-house silicon called cloud infrastructure processing units (cipus) at its annual summit this week, the register reports. alibaba has deployed the data processing units (dpus) in some of the chinese giant’s data centers. “the rapid increase in data volume and scale, together with higher demand for lower latency, call for the creation of new tech infrastructure,” alibaba cloud intelligence president jeff zhang said. joe biden could ease trump-era tariffs on china to tame inflation president joe biden is considering rolling back some tariffs imposed on chinese goods during the term of former president donald trump as the united states grapples with inflation. tariff reductions, under consideration by biden, would reduce the overall inflation rate by an estimated quarter of a percentage point, according to economists of the administration, the new york times reported on tuesday. officials are considering at least partial relaxation on the tariffs, which could have side effects such as companies keeping their supply chains in china. ahead of fomc decision, bill ackman has this advice for the fed hedge fund investor and pershing square capital management ceo bill ackman has a word of advice for the u.s. federal reserve, which is due to announce its interest rate decision on wednesday after a two-day meeting of its monetary policy arm. ackman’s call: as financial markets get hammered on fears that higher rates will stifle already-fragile economic growth and bring about a recession, ackman said on twitter the fed should get aggressive. the central bank is left with the unenviable task of controlling sky-high inflation without hurting growth. elon musk’s first reaction to latest crypto bloodbath is here tesla inc. (nasdaq: tsla ) ceo elon musk on wednesday reacted to a tweet from dogecoin doge/usd creator billy markus, where the latter highlighted the ongoing crash in financial markets by way of a meme. “it’s end of the world as we know it,” markus said in the tweet. “and i feel fine.” the tweet included a meme where death is supposedly going after real estate after taking care of stocks and cryptocurrencies. musk responded to the post, saying, “true.” bitcoin crashes to $21,000: 5 tips to survive crypto bear market top crypto contrarian investor mr. whale last year shared tips on surviving the crypto bear market that remain just as relevant. bitcoin has tanked significantly since, inching near the $20,000 level, with other cryptocurrencies following suit. ethereum was badly affected, briefly inching below the $1,000 mark earlier this week. apple supplier foxconn breaks ground on first ev battery plant one of apple inc’s (nasdaq: aapl ) oldest and largest suppliers, foxconn, has forayed into the electric vehicle segment. the key iphone assembler, whose official name is hon hai precision industry co., ltd (otc: hnhpf ), broke ground on its first battery cell plant on wednesday, the latest move by the company to make inroads into the booming ev industry. “we plan to build a localized ecosystem for the battery supply chain, from materials to battery cells and battery packs, in kaohsiung,” foxconn chairman young liu said at the groundbreaking ceremony in the southern taiwanese city, according to nikkei asia. breaking: south carolina rep. nancy mace beats trump-backed primary challenger south carolina rep. nancy mace beat back a primary challenge from a former state legislator and pentagon official katie arrington, according to ap, which called the race at 11:13 p.m. et tuesday night. former president trump had endorsed arrington as part of his crusade to stamp out perceived disloyalty within the republican party. arrington’s loss “adds to a growing list of failed trump-backed candidacies,” noted axios. photo via wikimedia commons | 2022-06-15 |
reuters london’s gatwick airport to fly lesser number of flights during summer season gatwick airport in london is reducing the number of flights during the peak summer period due to staff shortages. the decision to temporarily reduce flights follows a review of its operations to help passengers “experience a more reliable and better standard of service.” the daily flights will be cut to 825 in july and 850 in august. reuters reported that the numbers are from around 900 flights on peak days in august. here’s how us looks to churn out quality workers for ev, broadband industry the white house aims to introduce a summer-long initiative to unite labor unions and industry. they aim to help train more workers for good jobs in the electric vehicle, broadband, and construction sectors, senior administration officials. the government aims to counter concerns regarding the possible recession and high inflation while highlighting employment gains by the move. the “talent pipeline challenge” will promote employers and state and local governments to use $800 million in job training funds from the $1 trillion bipartisan infrastructure law. indian conglomerate reliance eyes bankrupt revlon indian conglomerate company reliance industries is planning to acquire cosmetics maker revlon inc (nyse: rev ). the development comes in the wake of revlon filing for reorganization under chapter 11 in the u.s. bankruptcy court for the southern district of new york. revlon is facing heavy debts as it struggles to compete with brands driven by social media influencers. new york times spacex fires employees critical of elon musk, dubs their action’ overreaching activism elon musk-led spacex on thursday afternoon fired a number of its employees who wrote an open letter criticizing what they see as the entrepreneur’s egregious behavior. the news of the firing was shared in a letter to employees by spacex president gwynne shotwell. “that is, the letter, solicitations and general process made employees feel uncomfortable, intimidated and bullied, and/or angry,” the executive said. she attributed the reaction to the pressure the employees were under to sign something that did not reflect their views. wall street journal tampon manufactures step up output to avoid any major supply crunch some of the largest u.s. tampon makers are beefing up production to boost supplies as consumers in some parts say they cannot find their preferred products. the most prominent player with 60% of the market, procter & gamble co (nyse: pg ), said it is running plants non-stop to ensure stores have an adequate supply. edgewell personal care co (nyse: epc ) also reported production problems in the past year. kimberly clark corp (nyse: kmb ), the third-largest tampon maker, said it had not experienced a product or supply shortage. inflation hits anheuser-busch, cfo says price increase on cards anheuser-busch inbev sa/nv (nyse: bud ) mulls raising prices for some of its beverages in an effort to manage inflation. as per wall street journal, the company said that despite regular updates to its pricing, it is lagging on cost increases in markets, including the u.s. and brazil. “overall, i feel inflation is slightly higher than our view,” ab inbev cfo fernando tennenbaum said. bloomberg pilot crunch hits cathay pacific as pilots resign in large numbers cathay pacific airways ltd (otc: cpcay ) is facing a continuously high rate of pilot resignations. bloomberg reported that the airline says it may improve allowances and benefits to lure the crew who took deep pay cuts to the carrier during the covid-19 crisis. “we still have resignation rates at much higher levels than we’ve historically had,” chief operations and service delivery officer greg hughes said at a town hall meeting for cathay staff watched online by bloomberg news. volkswagen looks to settle porsche buyers’ complaints for bypassing emission norms volkswagen ag (otc: vlkpf ) agreed to settle porsche buyers’ complaints by paying a minimum of $80 million, bloomberg reports. the buyers alleged improperly skewed emissions and fuel economy test results. tests proved that fuel economy was one to two miles per gallon lower than the company advertised. financial times gm backed cruise is giving google, tesla a run for their money general motors company (nyse: gm ) backed cruise offered tough competition to alphabet inc (nasdaq: goog ) (nasdaq: googl ) google in the race to secure the first robotaxi permit for san francisco. cruise beat google by offering free rides in its fully autonomous vehicles in february. cruise also bagged approval for monetizing the rides in early june. cruise chief kyle vogt said, “if this can operate in a major u.s. city, like san francisco, where there’s a high willingness to pay, high population density, high demand, high complexity, then it can operate in many places.” benzinga advantage amd: analyst flags delay in intel server chip shipment intel corp’s (nasdaq: intc ) product misstep woes are likely to return to haunt the company, casting more clouds over its turnaround efforts. the highly-anticipated intel server chips, codenamed “sapphire rapids,” may not ship until the second quarter of 2023, as opposed to a consensus expectation for a launch in the second half of 2022, noted tech analyst ming-chi kuo said on thursday. premised on a second-half launch, morgan stanley analyst joseph moore said in a december 2021 note that he expects the chip to help intel narrow its server market share gap with rival advanced micro devices, inc.’s (nasdaq: amd ) milan server processor. snapchat bringing paid subscription service? here’s what we know snap inc (nyse: snap ), which heavily relies on advertising revenue, is reportedly testing out a paid subscription service with many user perks for its instant messaging app and service. snap is internally testing “snapchat plus,” a paid subscription that will give users early access to new features and other abilities, the verge reported, citing a statement from a company spokesperson. the company is also testing other features for the subscription service, as per the report, which cited screenshots and information shared by app researcher alessandro paluzzi. banco santander appoints héctor grisi as ceo spanish multinational financial services provider banco santander sa (nyse: san ) has appointed héctor grisi as the chief executive officer, effective january 1, 2023. he will succeed jose antonio alvarez who will remain on the board and serve as non-executive vice chair. is tesla sending untrained workers to service centers? tesla inc (nasdaq: tsla ) is sending untrained employees to service centers to address issues as its customer fleet grows much faster than the service infrastructure, electrek.com reported, citing sources. austin, texas-based tesla is dispatching employees who do not have service center experience to fix vehicles. some of these employees include salespeople, entry-level workers, or managers who have no training in servicing cars and are finding themselves in service centers working on vehicle. twitter-backed social media platform also gets google backing in $255m funding round indian social media app sharechat, which counts twitter inc (nyse: twtr ) and snap inc (nyse: snap ) among its investors, recently raised $520 million in a multi-tranche funding round. sharechat, in a statement, said that after the recent funding round, the company exceeded $5 billion in valuation. in the first part of the funding round, the company raised $266 million from alkeon capital, temasek, harbourvest, moore strategic ventures, and india quotient in december. alibaba could suffer fallout as top rival plans foray in food delivery service beijing-headquartered e-commerce giant jd.com inc (nasdaq: jd ) is mulling a possible foray into the food delivery business, posing an intense competition for its chinese peers meituan (otc: mpngf ) and alibaba group holding ltd (nyse: baba ). jd retail ceo xin lijun, in an interview with bloomberg tv, said the company has “considered and explored” launching an on-demand food delivery service. “as for when we will start doing it, it will depend on our capacity and when we can build up a talent team,” lijun added. elon musk mulls spacex-like pay structure for twitter staff tesla inc (nasdaq: tsla ) ceo elon musk clarified how twitter inc (nyse: twtr ) employees would receive compensation and benefits after his takeover of the social media platform. musk interacted with twitter employees on thursday. he was asked how he compensates employees at privately held spacex and what approach he plans to take at twitter after he closes his deal, according to a transcript of the interaction published by vox. musk said that spacex “operates in the best of both worlds,” where stock and options are issued to everyone. volkswagen says us could face many challenges to ramp up ev battery output volkswagen group’s (otc: vwagy ) u.s. ceo scott keogh has warned america could face key challenges to ramp up battery production plans to meet the demand for electric vehicles, reuters reported, citing the executive. keogh said the u.s. could face issues linked to attracting skilled workers, mining for key metals, and supply chain and that the switch to evs is the single biggest “industrial transformation in america.” keogh said the u.s. could potentially employ hundreds of thousands of people by 2030 for battery production and needs to be “making 8.5 million batteries” annually compared with 150,000-200,000 a year now. crypto vs stocks: correlation trends in the bear market bitcoin’s btc/usd all-time high (ath) and growing popularity have changed its lack of correlation with equity markets. amid the heavy debate, analysts have suggested an increasing connection between tech stocks and cryptocurrency prices. this slowly nourished relationship has been developing strongly over the past year. in may, cathie wood-led ark investment management projected bitcoin’s correlation with the s&p 500 to reach an ath of 80%, saying that this “continues to suggest that market participants view bitcoin as a risk-on asset”. nio said to get sued by audi: here’s what it’s all about volkswagen group’s (otc: vwagy ) audi has sued nio inc (nyse: nio ), alleging the chinese ev maker’s es6 and es8 model names infringe the trademark rights of two of its models, the s6 and s8, cnevpost reported on thursday, citing german media outlet handelsblatt. audi has alleged in a lawsuit filed in a munich court that some of nio’s models offered for the first time in europe would infringe audi’s trademark rights. audi has been selling the s6 and s8 sedans for several years, while nio launched the es6 electric suv in 2019 and the es8 suv in september. photo via wikimedia commons | 2022-06-17 |
reuters read rolls royce’s one-of-its-kind attempt to beat inflation rolls royce holdings plc (otc: rycey ) doled out £2,000 ($2,458) to ~70% of its u.k. staff to beat the inflation in a first-of-its-kind move. the economy battled inflation and has aggravated by the labor crisis, supply chain disruptions, post-brexit, and ukraine crisis after an initial rebound from the pandemic. rolls royce looked to offer the sum to 11,000 shopfloor workers and 3,000 junior managers mainly based at its derby and bristol sites, bbc reports. rolls-royce also offered a 4% pay hike dated to march to 11,000 u.k. shopfloor workers. britain comes to standstill as biggest rail strike in 3 decades begins britain faces its biggest rail strike in 30 years. the strike began today, with tens of thousands of workers walking out in a pay and employment dispute, reported reuters. this strike could pave the way for more widespread industrial action in the coming months. what happened: more than 40,000 rail workers scheduled to strike on tuesday, thursday, and saturday gathered along picket lines from dawn. the london underground metro was also mostly closed due to a separate strike. bloomberg tesla sued by former workers over mass layoffs: what you need to know two former tesla inc (nasdaq: tsla ) employees have sued the electric vehicle company over not providing the required advance notice to lay off about 10% of its workforce, bloomberg news reported on monday, citing a lawsuit. the employees who were fired this month from tesla’s battery factory near reno, nevada, allege tesla did not comply with the 60-day notification requirement under the worker adjustment and retraining notification (warn) act. john lynch and daxton hartsfield are among the 500 employees at the facility that were let go, as per the lawsuit filed late sunday in austin, texas. elon musk confirms tesla cutting salaried workforce by 10% over next 3 months. financial times south korea imposes travel embargo on terraform labs employees pending crypto investigation south korean prosecutors have banned terraform labs employees from leaving the country pending an investigation after its cryptocurrency’s $40 billion wipeout. investors alleged that terraform founders and the company duped investors with their flawed algorithmic coins. around 15 people, including former project developers for the anchor lending protocol, received travel restrictions. fairfax financial offloads pet insurance operations to jab holdings for $1.4b fairfax financial holdings will sell its global pet insurance operations to the reimann family-owned private investment company, jab holding, for $1.4 billion. jab, which aims to bolster its pet insurance portfolio with the deal, is known for investing in doughnut maker krispy kreme inc (nasdaq: dnut ). fairfax, the canadian investment company, will sell its interests in crum & forster pet insurance group and pethealth inc to jab’s pet insurance unit for $1.15 billion in cash and $250 million in seller notes. revlon’s bankruptcy proceedings complicated by citi’s $900m loan repayment error revlon inc’s (nyse: rev ) restructuring initiatives have got complicated due to a $900 million banking error by citigroup inc (nyse: c ). the cosmetics maker had filed for bankruptcy last week after being mired in debt. the report noted that in 2020 citigroup had erroneously used its own money to repay a $900 million term loan it administered on behalf of revlon that was held by multiple asset management groups. benzinga kellogg to split into three companies - all you need to know kellogg co (nyse: k ) board has approved a plan to separate its north american cereal and plant-based foods businesses through tax-free spin-offs. those businesses collectively represented 20% of its net sales in 2021. the move is expected to result in three independent public companies, global snacking co with $11.4 billion in net sales, north america cereal co with about $2.4 billion, and plant co with $340 million in sales. the three separate companies will focus on their distinct strategic priorities, have more operational flexibility and enable a more focused allocation of capital and resources. here’s why britain’s regulatory watchdog is after visa, mastercard britain looks to probe the card charges imposed by visa inc (nyse: v ) and mastercard inc (nyse: ma ), focusing on the post-brexit jump in processing fees and cross-border transaction levies. the regulator will conduct two reviews on the companies accounting for 99% of u.k. debit and credit card payments. visa and mastercard have increased these fees fivefold since brexit. venture global, enbw ink lng sales and purchase deals u.s. lng export project developer venture global and german energy company enbw have signed two long-term sales and purchase agreements for 1.5 million tonnes per annum (mtpa) of lng. the lng will come from venture global’s plaquemines and cp2 facilities, starting in 2026. according to the agreement, enbw will purchase 0.75 mtpa from plaquemines lng and 0.75 mtpa from cp2 lng for 20 years. jetblue submits improved proposal for spirit airlines at $33.50/share jetblue airways corporation (nasdaq: jblu ) does not seem to back away, the airline submitted a decisively superior proposal to the board of directors of spirit airlines incorporated (nyse: save ) for acquisition. the new, improved proposal is an update to jetblue’s previous proposals (dated march 29, 2022, april 29, 2022, and june 6, 2022, respectively) and is structured to maximize value and certainty for spirit and its stockholders. the improved proposal increased the price to $33.50 per spirit share. wechat to ban accounts engaged with bitcoin, ethereum, dogecoin or nfts in a recent move to crackdown on the rising interest in cryptocurrency in china, tencent holdings ltd (otc: tcehy )-owned social media platform wechat has announced policies to ban accounts related to crypto or non-fungible tokens (nft). according to recently updated policies of wechat, the platform will either restrict or ban social accounts involved with the issuance, trading, and financing of cryptocurrencies such as bitcoin btc/usd, ethereum eth/usd, or dogecoin doge/usd, and nfts. the policy further added that such accounts would fall under the “illegal business” category since the country has imposed a blanket ban on digital currencies. oreo owner mondelez buys nutritious energy bar maker clif bar mondelez international inc (nasdaq: mdlz ) has agreed to acquire energy bars manufacturing company clif bar & company for $2.9 billion with additional contingent earnout consideration. the acquisition of on-trend brands clif, luna, and clif kid expands mdlz’s global snack bar business to more than $1 billion. mondelez expects the transaction to be top-line accretive in year two and create cost synergies. dogecoin gets 2nd elon musk boost in a row: tesla ceo says ‘responding’ to people dogecoin doge/usd traded 5.5% higher at $0.06 over 24 hours leading up to early tuesday morning. doge rose along with other major coins as the global cryptocurrency market cap shot up 4.8% to $966 billion. the 24-hour trading volume for doge fell 41.2% to $527,398,037 according to data from coinmarketcap, coinglass data indicated that $1.2 million worth of doge were liquidated over 24 hours as the price of the meme coin declined. elon musk confirms tesla cutting salaried workforce by 10% over next 3 month s tesla inc (nasdaq: tsla ) ceo elon musk said on tuesday that the electric vehicle maker is reducing the salaried workforce by 10% over the next three months, for the first time confirming a timeline for the reduction, adding that he expects the company’s hourly workforce to grow instead. the billionaire entrepreneur said that tesla’s overall immediate headcount would be lower by 3% to 3.5% in the near term, but it will be higher in about a year’s time. why discord, coinbase, google, steam and several other top websites are seeing an outage reports show that a widespread outage at cloudflare, inc (nyse: net ) affected several popular websites in the early hours of tuesday. cloudflare said it had identified an issue and was implementing a fix. the company said through its systems status website that it was “investigating widespread issues” with services and/or its network. users reported several websites as facing disruptions, including amazon.com, inc (nasdaq: amzn ) ’s amazon web services and coinbase holdings inc (nasdaq: coin and discord. dogecoin creator says crypto’ house of cards’ beginning to crumble at bottom dogecoin doge/usd co-creator jackson palmer has compared cryptocurrencies to playing at the roulette table and said their bottom has “started to crumble,” in yet another critical take on digital coins. in a recent australian tv talk show, palmer said the latest cryptocurrency downturn was not yet the end, but a lot of people are realizing the “systemic risks” it presents. why alibaba, nio, chinese peers are trading mixed in hong kong today shares of major u.s.-listed chinese companies traded mixed in hong kong on tuesday, with tech giants like alibaba group holdings (nyse: baba ), baidu inc (nasdaq: bidu ), and tencent holdings (otc: tcehy ) trading marginally higher. jd.com inc (nasdaq: jd ), however, fell after opening in the green. ev stocks nio inc (nyse: nio ), li auto inc (nasdaq: li ), and xpeng inc (nyse: xpev ) slipped after a higher open. joe biden backs apple workers joining maryland union: ‘proud of them’ president joe biden has praised apple inc (nasdaq: aapl ) workers who voted to form a union in maryland. “i am proud of them,” biden said on monday, adding that workers have a “right to determine under what condition they are going to work or not work,” reported reuters. “everybody is better off, including the final product is always better off (because of unions).” tesla, ford said to be in talks with indonesia to set up local plants indonesian president joko widodo has been in talks with tesla inc (nasdaq: tsla ), ford motor co (nyse: f ) and other carmakers to set up manufacturing facilities in the southeast asian country, cnbc reported, citing widodo. widodo said his government is open to all players and wants them to use the country’s plentiful natural resources, as per the report. indonesia is rich with natural deposits of tin, copper, nickel, cobalt and bauxite, some of which are key materials for electric vehicle batteries. sundial growers enters into bid agreement for zenabis global inc.’s assets, here’s what we know sundial growers inc. (nasdaq: sndl ) announced monday that it entered into a purchase agreement, in the form of a “stalking horse bid,” pursuant to which the shares of zenabis global inc. and the business and assets of its direct and indirectly wholly-owned subsidiaries would be acquired by sundial, in the context of the initial order pursuant to the companies’ creditors arrangement act (canada) (“ccaa”) the bid agreement is subject to the approval by the québec superior court supervising the companies’ creditors arrangement act (ccaa) proceedings, and to potential alternative bids pursuant to bidding procedures that will follow. photo by blomst via pixabay | 2022-06-21 |
cnbc moderna to establish new vaccine facility in britain moderna inc (nasdaq: mrna ) announced an agreement with the united kingdom government to establish an mrna innovation and technology center in the u.k. additionally, moderna plans to expand its presence in the u.k. through investments in r&d activities. moderna is collaborating with the national institute for health research on a phase 3 study investigating moderna’s bivalent omicron-containing booster candidate (mrna-1273.214) in the u.k. amazon lost 2 key black executives this week: what you need to know amazon.com, inc (nasdaq: amzn ) has reportedly lost two key black executives, including one on its core team. alicia boler-davis, senior vice president of global customer fulfillment, and david bozeman, vice president of amazon transportation services, are leaving the retail giant, reported cnbc. boler-davis and bozeman have decided to explore opportunities outside amazon, according to an email from amazon’s operations division head john felton, seen by cnbc. reuters meta, microsoft, alibaba, others form metaverse governing body; apple’s name missing meta platforms inc (nasdaq: meta ), microsoft corp (nasdaq: msft ), alibaba group holding limited (nyse: baba ), and other tech giants striving to build the emerging metaverse concept have formed a group to foster the development of industry standards. apple inc (nasdaq: aapl ) strangely missed the members’ list. interestingly, apple ceo tim cook recently confirmed the iphone maker’s foray into the domain. bombardier’s workers on key program vote on contract offer today bombardier inc (otc: bdrbf ) (otc: bdrbd ) workers on a key program for the canadian business jet maker will be deciding today whether to accept a new contract offer or walk off the job, reported reuters. according to the letter seen by reuters, bombardier had offered its workers on a key jet program a new and final contract that would provide wage raises of up to 18.5 percent over five years. rejection of the above deal would lead to a general strike by the 1,800 workers. boeing says supply chain issues to persist through majority of 2023 boeing co (nyse: ba ) expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, reported reuters, citing ba’s chief executive on wednesday. “the shift from demand to now supply issues ... is remarkable, the speed with which it happened,” boeing chief executive david calhoun said at bloomberg’s qatar economic forum in doha. “it’s been a real issue for both manufacturers and will probably stay that way in my view almost to the end of next year,” calhoun added. wall street journal how about reducing nicotine levels in tobacco products? biden administration working on cap plan the biden administration signaled that it would develop a proposed rule to establish a maximum nicotine level to reduce the addictiveness of cigarettes and certain other combusted tobacco products. the goal of the potential rule would be to reduce youth use, addiction, and death. “nicotine is powerfully addictive,” fda commissioner robert califf said in the statement. “lowering nicotine levels to minimally addictive or non-addictive levels would decrease the likelihood that future generations of young people become addicted to cigarettes and help more currently addicted smokers quit,” he added. bloomberg crypto.com receives singapore token permits approval along with two other firms singapore will be issuing in-principle approvals for crypto.com, genesis, and sparrow tech to provide digital payment token services in the city-state, even as it maintains a strict cryptocurrency licensing regime. according to a statement published by crypto.com on wednesday, it has received in-principle approval from the monetary authority of singapore (mas) for its major payment institution license. once granted, this license will enable crypto.com to offer a range of payment services within the payment services act, including digital payment token (dpt) services to customers in singapore. financial times union rejects rolls royce’s inflation bonus: all you need to know a union representing rolls royce holdings plc (otc: rycey ) workers in the uk rejected the company’s offer of a £2,000 one-off payment to beat the inflation. the offer also included a 4% pay hike. the union known as unite argued that the offer “falls far short of the real cost of living challenges which our members are experiencing.” athleisure retailer jd sports undergoes corporate governance rejig as planned jd sports fashion plc (otc: jdspy ) appointed helen ashton as the interim non-executive chair and kath smith, senior independent director, as interim ceo as peter cowgill departed on may 25. jd previously disclosed corporate governance rejig involving the split the role of ceo and chair and conducting a search for ceo and chair. alongside its much-delayed full-year results, jd justified multiple regulatory issues behind the higher board-level experience and greater internal scrutiny and control. new york post joe biden calls chevron ceo’ sensitive,’ invites target chief’s ire amid gas price debate joe biden’s spat with american corporate executives intensified this week as he traded barbs with the ceo of chevron corp (nyse: cvx ), while target corp’s (nyse: tgt ) chief executive slammed the u.s. president’s idea of a gas tax holiday. biden reportedly called chevron ceo michael wirth “mildly sensitive” on tuesday, after the latter’s rebuttal to the president criticizing energy firms for high gas prices. “i didn’t know they’d get their feelings hurt that quickly,” the new york post reported on tuesday. benzinga bitcoin hodlers are selling amid bear market — but adoption keeps growing bitcoin’s btc/usd short-term market performance has seen better times. however, on-chain data analysis revealed that even though the seven-day average of bitcoin addresses in profit recently reached a two-year low of nearly 55.7%, it still implies most are still profiting. on-chain data shows that the number of bitcoin addresses holding at least 0.01 btc (equivalent to nearly $210 as of press time) just reached a new record high. according to data shared in a tuesday tweet by an account of glassnode dedicated to sharing findings of the blockchain data firm, there are current. meta facing ar/vr slowdown: analyst updates expectations on quest 2 pro headset launch meta platforms, inc. (nasdaq: meta ), which changed its name and ticker to reflect its pivot toward the metaverse, is not seeing much traction on that front, according to tech analyst ming-chi kuo. the tfi international securities analyst said meta’s metaverse hardware/headset business has slowed. he noted that the social media platform had cut its shipment forecast for the category by 40% to 7 million-8 million for 2022. all new headset/augmented reality/mixed reality hardware projects have also been put on hold until 2024, he added. toyota cuts july production citing parts shortage toyota motor corp (nyse: tm ) has cut its july global production plan by 50,000 vehicles due to the parts shortage resulting from the spread of covid-19. the company expects the global production volume for july to be approximately 800,000 units (250,000 units in japan and 550,000 units overseas). the auto major has decided to extend the previously announced operations halt in production lines as the covid-19 outbreak at one of its suppliers raised concern. despite 8% increase in energy investments, rising oil prices difficult to tackle: iea report according to the international energy agency report, the global energy investment is expected to swell to $2.4 trillion, up 8%, with the anticipated rise coming mainly in clean energy. encouraging, but the investment is still far from enough to tackle the current energy crisis, the report added. “a massive surge in investment to accelerate clean energy transitions is the only lasting solution. this kind of investment is rising, but we need a much faster increase to ease consumer pressure from high fossil fuel prices, secure our energy systems, and get the world on track to reach our climate goals,” said iea executive director fatih birol. british retailer frasers boosts investment in hugo boss british retail and intellectual property group frasers group plc (otc: sdipf ) has increased its investment in hugo boss ag (otc: bossy ), the german luxury fashion brand, to €900 million. frasers noted the increased position reflects its belief in the hugo boss brand, strategy, and management team. tim cook opens up at last about apple’s ar/mr project: ‘stay tuned to see what we have to offer’ apple inc (nasdaq: aapl ) remained tight-lipped about rumors of its augmented reality/mixed reality (ar/mr) project at its developers’ conference earlier this month. but now, ceo tim cook has apparently confirmed the iphone maker’s foray into the segment. in an interview with china daily last week, cook said he was incredibly excited about ar, in response to a question about the key factors it needs to succeed with customers. “the critical thing to any technology, including ar, is putting humanity at the center of it. and that is what we focus on every day,” cook said. shiba inu (shib) surges 17%: musk’s dogecoin spillover, lead developer buzz and more factors shiba inu (shib) shot up 17.3% over 24 hours to $0.0000096 at press time in the early hours of wednesday morning. it gained alongside well-known meme coins, including bellwether dogecoin doge/usd, which was up 6.1%. the global cryptocurrency market cap declined 0.9%. elon musk reacts to prediction of volkswagen overtaking tesla by 2024 tesla inc (nasdaq: tsla ) ceo elon musk on tuesday dismissed a recent bloomberg intelligence forecast that estimates germany’s volkswagen group (otc: vwagy ) could become the top electric vehicle maker by 2024. the billionaire entrepreneur, who heads the world’s largest electric vehicle company, said he does not agree with the forecast. “i believe that forecast was from you,” musk said in response to a question on competition in the ev space. cathie wood sheds nearly all walt disney exposure with $7m sale cathie wood-led ark invest management on tuesday shed most of its exposure in walt disney co (nyse: dis ) amid reports of a likely shareholder battle over ceo bob chapek’s salary. the popular money managing firm sold 76,387 shares, estimated to be worth $7.12 million, in the entertainment giant that owns disney parks and resorts and other properties. disney shares closed 1.1% lower at $93.3 on tuesday and are down 40.5% year-to-date. photo via wikimedia commons | 2022-06-22 |
alibaba group holding ltd - adr (nyse: baba ) shares are trading higher by 5.74% to $111.23. shares of chinese companies are trading higher during thursday’s session after chinese president xi jinping said china would adopt measures to reach its economic targets despite the impacts of covid-19 measures. xinhua reported that in a keynote speech to a virtual brics business forum on wednesday, xi said the country will "strengthen macro-policy adjustment and adopt more effective measures to strive to meet the social and economic development targets for 2022 and minimize the impacts of covid-19."... read more alibaba shares are also likely rising after bloomberg reported jack ma’s ant group is readying to apply for a key financial license as soon as this month. the move likely signals ant group's desire to continue to appease china’s financial regulators. see also: so does tesla or lucid make the cooler-looking electric vehicle? over 60% say... alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume. according to data from benzinga pro , alibaba has a 52-week high of $230.89 and a 52-week low of $73.28. | 2022-06-23 |
shares of major u.s.-listed chinese companies inched higher in hong kong on friday, with tech giants like alibaba group holdings (nyse: baba ), tencent holdings (otc: tcehy ), baidu inc (nasdaq: bidu ), and jd.com inc (nasdaq: jd ) gaining at least a percent. in the electric vehicle segment, xpeng inc (nyse: xpev ) led the rally with 8.27% gains, while li auto inc (nasdaq: li ) and nio inc (nyse: nio ) also traded in the green. how u.s.-listed chinese stocks are faring in hong kong today stocks movement (+/-) alibaba 4.91% tencent 0.53% baidu 1.90% jd.com 0.90% nio 1.41% xpeng 8.27% li auto 2.72% shares of these chinese companies ended on a similar note in the u.s. markets overnight. global markets recap: at press time, the benchmark hang seng index was trading 1.42% higher, deriving cues from global markets. in the u.s., the dow jones index closed 0.64% higher after another bumpy session. elsewhere, shanghai's sse composite index gained 0.52%, singapore's sgx nifty was up 0.64%, while japan's nikkei 225 inched 0.73% higher. macro factors: u.s. federal reserve chairman jerome powell warned that rapidly rising interest rates threatened a recession . powell also told congress that policymakers would move aggressively to fight inflation but said the u.s. economy is "well-positioned" to handle rate hikes. china's state television cctv , citing a state council meeting chaired by premier li keqiang , reported that the government is considering extending exemptions by about 200 billion yuan ($30 billion). the report added that policies such as waiving taxes would bolster demand for new energy vehicles and stimulate the used-car market. company in news: jpmorgan is doubling down on alibaba, jd, and other chinese tech stocks amid easing regulatory crackdown, valuation, and supportive macroeconomic policy measures that pose positive catalysts for these stocks. jack ma 's ant group , in which alibaba owns a one-third stake, is likely to apply to the people's bank of china to become a financial holding company. german automaker bmw (otc: bmwyy ) has started production at a new $2.24 billion electric vehicle plant in shenyang, china, as it looks to take on tesla inc (nasdaq: tsla ), nio, and other fast-growing local ev rivals. two and a half years after its first vehicle delivery, xpeng has reached the milestone of 200,000 vehicle deliveries . | 2022-06-24 |
cnbc tencent partners with bmw, saic, nio to capitalize on china’s giant ev market tencent holding ltd (otc: tcehy ) aims to sell technology to help foreign automakers tap china’s enormous electric vehicle market, cnbc reports. tencent intelligent mobility vp liu shuquan claimed collaboration with 40 auto brands, including bayerische motoren werke ag (otc: bmwyy ), saic, and nio inc (nyse: nio ), covering 120 vehicle models. he also cited discussions with german and japanese companies. liu’s team launched a new cloud computing product for automakers called the “tencent intelligent automobile cloud” to boost its international strategy. reuters google gets embroiled in another antitrust complaint - read to know danish online job-search portal jobindex has escalated antitrust allegations against alphabet inc (nasdaq: goog ) (nasdaq: googl ) google to european union regulators. google had allegedly favored its job search service as per the complaint that could revive eu antitrust chief margrethe vestager’s scrutiny of the service, google for jobs. jobindex’s action comes four years after german media group axel springer’s jobs portal stepstone filed a similar complaint. credit suisse faces verdict in money laundering trial switzerland courts will rule whether credit suisse group ag (nyse: cs ) stayed away from stopping purported money laundering linked to a cocaine trafficking gang, reuters reported. the investment and financial services provider faces charges for allowing a bulgarian cocaine trafficking gang to launder millions of euros. the alleged money laundering happened between 2004 to 2008. taiwan hopes to seal free trade deal with us as biden administration holds talks the united states and taiwan will hold trade talks on monday under a newly agreed-on framework. the office of the u.s. trade representative said the deputy trade representative sarah bianchi would meet taiwan’s top trade negotiator, john deng, to discuss an initiative on 21st-century trade; without providing more details, reuters reported. this came days after the biden administration excluded the chinese-claimed island from its asia-focused economic plan, the indo-pacific economic framework, or ipef. the ipef is designed to counter china’s growing influence in the world trade market. wall street journal tesla, gm, ford ev price hikes loftier than for gas cars: here’s the average price gap u.s. customers had to pay 22% more last month to buy electric cars amid growing demand and supply woes for ev makers, the wall street journal reported on sunday. average ev prices grew 22% year-on-year in may at about $54,000. in comparison, prices for gas-powered vehicles rose 14% to about $44,400, according to automotive research consultancy j.d. power. tesla inc (nasdaq: tsla ), ford motors co (nyse: f ), general motors co (nyse: gm ), lucid group inc (nasdaq: lcid ), and rivian automotive inc (nasdaq: rivn ) are automakers that have bumped up prices on certain evs in the recent past, partly to offset surging costs of lithium, nickel, cobalt and other battery-making materials. amazon prime day braces for slowdown like alibaba on pandemic recovery, inflation concerns amazon.com, inc’s (nasdaq: amzn ) prime day has hit a slowdown as consumers cut down on their order size, the wall street journal reported. amazon, too, appears to have curtailed its investments in the event. most of the deals have focused on the company’s products. data proves that the discounts on many items failed to surpass those on other days at amazon, excluding electronics. 3m might face billion-dollar lawsuit over earplugs manufactured for military use 3m co’s (nyse: mmm ) foam earplugs, which the company manufactured for the united states military and was bought by the government for ~$7.63 a pair, threaten to become a significant liability for the manufacturing giant, reported wall street journal. many us military veterans have filed lawsuits against minnesota-based 3m for hearing impairment caused by faults in the company’s military-grade earplugs. the company might face billions of dollars in legal settlements or lawsuits after soldiers claimed they returned from combat with hearing damage caused by the earplugs. bloomberg morgan stanley’s strategists see some breathing space from current market selloff morgan stanley (nyse: ms ) strategists led by michael wilson say the s&p 500 index might rally another 5% to 7% before the selloff resumes. “we think us equity markets can rally further,” they wrote in a note. the decline in bond yields and oil prices have eased some concern around inflation and helped the benchmark break a three-week falling streak. investors prune stake in this major chinese gaming company after alibaba south african internet firm naspers ltd (otc: npsn ) and its prosus nv (otc: prosy ) unit look to trim down their stake in tencent holding ltd (otc: tcehy ) to fund a share buyback. naspers reported fy22 revenue growth of 24% year-on-year to $36.7 billion. ecommerce revenue grew 49% y/y to $10.7 billion. core headline earnings declined 16% y/y to $2.1 billion, reflecting a lower contribution from tencent after selling 2% of its holdings in tencent. financial times more trouble for semiconductor industry’s revival as japanese chipmakers see engineers shortage japan’s leading semiconductor makers, from toshiba corp (otc: tosyy ) to sony group corp (nyse: sony ), warned against a crisis of engineers threatening the revival of its domestic chip industry. the japan electronics and information technology industries association highlighted the correlation between the sector’s success and talent. the group expected eight big producers to hire about 35,000 engineers in the next ten years to keep up with the pace of investment. deemed as ‘valueless’ ernst & young valued israeli spyware firm at $2.3b ernst & young global limited valued the troubled israeli spyware company nso group at $2.3 billion just months before it came at the risk of defaulting on its debt. according to the documents seen by financial times, the ey valuation is more than twice the valuation two years ago made by a luxembourg-based firm. the estimate of nso’s enterprise value was made without visiting the company or verifying the information its analysts had provided. benzinga alibaba said to get china license to test its self-driving trucks on road chinese e-commerce giant alibaba group holdings (nyse: baba ) said it had been granted a license to test its l4 self-driving trucks. following the widespread use of its low-speed self-driving logistics vehicles, alibaba said the deqing county in huzhou city of zhejiang province had granted it a license to test its self-driving trucks, cnevpost reported. the company said the deqing county is the first in china to issue a license allowing companies to conduct public road tests of l4 self-driving trucks without safety officers. alibaba received one of the first two licenses issued. why tesla is canceling some model y deliveries in germany tesla inc (nasdaq: tsla ) has canceled or delayed deliveries of the model y performance variant for reservation holders in germany due to defects in some vehicles, teslarati reported on sunday. model y performance reservation holders from germany began reporting cancellations on saturday through the tesla fahrer and freunde (tff) online forum. the elon musk-led company is expected to inform more reservation holders of cancellations this week. evs for ice: how tesla is drawing more china buyers into greener side tesla inc. (nasdaq: tsla ) has launched a trade-in campaign in china to encourage more traditional, gas-powered engine car owners to switch over to its electric cars amid growing demand and competition, cnevpost reported on monday citing shanghai securities journal. tesla’s trade-in benefits are valid for customers who place orders between july 1 and dec. 31 and complete a vehicle trade-in agreement before delivery. the key benefit includes a free 90-day trial of enhanced autopilot functionality, which the elon musk-led company introduced in china in february last year at $4,943, half the price of its full self-driving (fsd) option. bitcoin, ethereum fall, dogecoin defies gravity: analyst sees no strong crypto buyers ahead of fresh week bitcoin and ethereum traded lower, but dogecoin spiked on sunday evening, as the global cryptocurrency market cap declined 2.3% to $942 billion at press time. bitcoin and ethereum slipped into the red as the s&p 500 and nasdaq futures fell 0.5% each at press time. the two largest coins saw muted volumes owing to the weekend. in contrast, dogecoin soared with 24-hour trading volumes surging 113.1% to $908.65 million, according to coinmarketcap data. what bill clinton has to say about supreme court ruling on roe v. wade former president bill clinton has opened up about the supreme court’s roe v. wade decision on abortion. attacking the ruling by scotus, clinton said it has put “democracy at risk.” he went on twitter to share his thoughts and said supreme court’s decision had put partisanship ahead of precedent and ideology ahead of the evidence. photo via wikimedia commons | 2022-06-27 |
shares of major u.s.-listed chinese companies were trading mixed in hong kong on monday, with gains in major tech stocks offsetting a drag in the electric vehicle sector. alibaba group holdings (nyse: baba ), tencent holdings (otc: tcehy ), baidu inc (nasdaq: bidu ), and jd.com inc (nasdaq: jd ) shot up. among ev stocks xpeng inc (nyse: xpev ) and li auto inc (nasdaq: li ) slipped, while nio inc (nyse: nio ) traded in the green. how u.s.-listed chinese stocks are faring in hong kong today stocks movement (+/-) alibaba 4.92% tencent 3.49% baidu 3.99% jd.com 4.96% nio 5.41% li auto -3.98% xpeng -0.15% shares of these chinese companies ended higher on u.s. bourses on friday. global markets recap: at press time, the benchmark hang seng index was trading 2.75% higher amid signs of economic recovery in china. elsewhere, shanghai's sse composite index gained 1.16%, singapore's sgx nifty was up 0.84%, while japan's nikkei 225 inched 1.04% higher. macro factors: hong kong stocks approached their highest level in three months, hoping that the economic data this week would show china's recovery from covid-19 woes. according to consensus forecasts on the purchasing managers' index tracked by bloomberg, china's manufacturing is expected to have expanded last month, defying the contraction trend in the past three months. china is also relaxing its lockdown measures further, with capital beijing resuming in-class teaching from monday. elsewhere, shanghai's communist party chief declared a victory in the city's battle against covid-19 in a meeting over the weekend. company in news : alibaba group, jd.com, and tencent holdings may not be out of the woods yet. according to reports , china's regulatory crackdown, which has seen a let-up recently, could come back in full force soon. korea investment management co fund has gradually lowered its exposure to tesla inc (nasdaq: tsla ), but has added names including byd co (otc: byddy ) and xpeng in march and april on the dip. | 2022-06-27 |
cnbc ahead of investor deep dive event, credit suisse fined for cocaine money laundering case: report credit suisse group ag (nyse: cs ) will hold an investor deep dive event today to inform investors about its key priorities and achievements across the risk, compliance & technology & operations functions, and the wealth management business. “despite the challenging market environment, we remain firmly focused on executing our strategic plan during the transition year 2022 and reinforcing our risk culture – crucially, while staying close to our clients,” said credit suisse ceo thomas gottstein. “at the same time, we are continuing to drive the bank’s digital transformation, which is key to building a robust, scalable, and agile organization that is fit for the future,” he added. reuters toshiba shareholders vote activist investors to board toshiba corp (otc: tosbf ) (otc: tosyy ) reported results from the shareholders’ meeting, where members from activist hedge funds were elected to the board. elliott management’s nabeel bhanji and farallon capital management’s eijiro imai were elected as board members, reuters reported. akihiro watanabe, an executive from investment bank houlihan lokey, becomes the board chairman. volkswagen, siemens, others invest over $700m for hassle-free, cheaper ev charging the white house disclosed over $700 million in investments by volkswagen ag (otc: vwagy ) unit electrify america and siemens ag (otc: siegy ) to expand its grand prairie, texas, and ponoma, california ev charger plants. the move could add at least 2,000 jobs and make charging more convenient and cheap. it looks to boost u.s. manufacturing capacity for ev chargers to over 250,000 annually. the u.s. government aims to grow the u.s. network of ev chargers to 500,000 by 2030, up from 100,000 today. no more parties in airbnb, company bans it permanently on listings: reuters airbnb inc (nasdaq: abnb ) is set to make the ban on parties in homes listed on its site permanent, citing a significant decrease in reports of unauthorized gatherings since the ban was implemented in august 2020. since implementing the strategy, abnb has reported a 44% decrease in the rate of party reports year after year. the ban was introduced and extended to halt the spread of covid-19 infections. as the summer travel season begins, the company is making the ban permanent. investors seek more transparent tax, disclosure norms from microsoft and cisco britain-based proxy advisers pensions & investment research consultants (pirc) sought more transparent tax and financial information from microsoft corp (nasdaq: msft ) and cisco systems, inc (nasdaq: csco ). the resolution urged microsoft to disclose financial and tax information country-by-country outside the u.s. it also sought a tax transparency report from microsoft in line with the tax standard of the global reporting initiative. russia fined these us companies over data privacy breach a moscow court penalized amazon.com inc (nasdaq: amzn ) owned video streaming service twitch, social network pinterest, inc (nyse: pins ), holiday rental company airbnb, inc (nasdaq: abnb ), and united parcel service, inc (nyse: ups ) for refusing to store russian citizens’ data in russia. russia penalized twitch by 2 million roubles ($37,700), pinterest and airbnb by 2 million roubles, and ups by 1 million roubles. in late may, russia’s communications regulator roskomnadzor opened cases against the companies for allegedly violating personal data legislation. berkshire hathaway raises stake in occidental petroleum, find out how much warren buffet’s berkshire hathaway inc. (nyse: brk-a ) (nyse: brk-b ) has purchased another 794,389 shares of occidental petroleum corp (nyse: oxy ) at an average price of ~$55.39, according to a form-4 filing with the u.s. securities and exchange commission. the total purchase amount was ~$44 million for ~794 thousand shares of oxy. the recent purchase of oxy shares brings berkshire hathaway’s total stake in the company to 16.4%. tesla to face new trial in race-bias lawsuit after ex-worker rejects $15m payout tesla inc (nasdaq: tsla ) will face a new trial related to the damages that it owes to a black former factory worker after he turned down a $15 million award in a race discrimination lawsuit, reuters reported on monday. u.s. district judge william orrick in san francisco ordered a new trial a week after the former elevator operator with tesla, owen diaz, said he would not accept the award. a jury had last october awarded diaz a $137 million award. orrick had in april lowered the $137 million jury award for diaz to $15 million. wall street journal volkswagen in talks to sell stake in us ev charging business to siemens volkswagen ag (otc: vwagy ) is nearing a deal to divest a minority stake in its u.s. electric vehicle charging business to a division of siemens ag (otc: siegy ). the deal, if realized, would value volkswagen’s electrify america llc at more than $2 billion. the report added that the funds will be used for electrify america’s plan to expand its ev charging stations across the u.s. and parts of canada to 1,800 by 2026. effect of roe vs. wade ruling - pharmacies ration contraceptive pills major pharmacies like cvs health corp (nyse: cvs ), walmart inc (nyse: wmt ), and rite aid corporation (nyse: rad ) have put a limit on purchases or deliveries of plan b and other emergency contraceptive pills. the move comes as demand for contraceptive pills spiked following the supreme court ruling overturning a constitutional right to abortion. these were in short supply or out of stock on major retailer websites. as per the report, cvs and rite aid were limiting purchases to three. bloomberg us-based exploration & development company ivanhoe electric prices big us ipo ivanhoe electric inc has priced its initial public offering at $11.75 a share, raising $169.1 million. the company’s mining billionaire robert friedland sold about 14.4-million shares at the bottom of its previously guided ipo price range of $11.75 to $12.50. the underwriters have an option to purchase an additional 2.16-million shares. according to bloomberg, ivanhoe electric ipo is still the biggest u.s. ipo since may. financial times us government offers $75m support for lipid systems expansion used in mrna covid-19 vaccines the u.s. government will provide up to $75 million to expand u.k.-listed croda international plc’s (otc: coihf ) u.s. manufacturing capacity of ingredients for lipid systems used in novel therapeutic drugs, such as mrna vaccines. croda will also invest up to $58 million. the investment will be used to establish a new lipid facility in lamar, pennsylvania. construction is expected to start later this year, with the new capacity anticipated in 2025. benzinga volkswagen unveils 1st electric mid-size sedan to take on tesla in china, europe next year volkswagen group (otc: vwagy ) on monday unveiled the first electric mid-size sedan it plans to start selling in china and europe in the second half of next year. the german automaker said id. aero is the sixth member of its electric vehicle portfolio that also has its sports utility vehicles and crossovers. “sedans are the second most popular body style in china,” said stephen wollenstein, ceo, volkswagen china. alibaba lays off 50 employees as it shuts israel r&d center: report chinese e-commerce giant alibaba group holdings (nyse: baba ) is shutting down its r&d center in israel, the company notified its employees on sunday. according to israeli news company ctech, alibaba notified around 50 local employees on sunday that it plans to shut the center and lay off the staff. according to the report, the israel r&d center of alibaba has employed dozens of experts in the fields of ai, product and cloud, and mobile software engineering. nancy pelosi’s team blames media for controversy over her elbowing republican congresswoman’s daughter a spokesperson for rep. nancy pelosi (d- calif.) said the house speaker was not trying to push aside rep. mayra flores’s (r-texas) child at a photo op during flores’ swearing-in ceremony last week but was instead was trying to make sure she would not be hidden. the spokesperson said it was sad to see news outlets “that know better” misrepresent pelosi’s efforts to ensure flores’ daughter wouldn’t be hidden behind her in “all of the photos of such an important moment for their family,” reported the new york post. additional footage was reportedly shared by the spokesperson which apparently showed pelosi “graciously greeting rep. flores’ children and telling them about the room they are in.” jetblue modifies spirit proposal; urges spirit shareholders vote against frontier offer jetblue airways (nasdaq: jblu ) has again modified its proposal to acquire spirit airlines inc (nyse: save ) based on discussions with spirit shareholders. jetblue added a ticking fee, increased the reverse breakup fee to $400 million, and accelerated prepayment to $2.50 per share. the addition of a ticking fee mechanism provides shareholders with a monthly prepayment of $0.10 per share between january 2023 and the consummation or termination of the transaction. shiba inu community passes proposal to halt bone farming: what it means the shiba inu shib/usd community has overwhelmingly voted in favor of a proposal to halt the minting of bone bone/usd at 230 million tokens. according to an update released by the doggy dao on monday, 97.88% of the community voted in favor of capping bone so that the remaining 20 million minted tokens can be reserved for shibarium validators. bone is the rewards token that also serves as a governance token in the shib ecosystem. eos is ‘ethereum on steroids?’ vitalik buterin serves sarcasm on twitter ethereum eth/usd co-founder vitalik buterin recalled an old joke about cryptocurrency project eos eos/usd on twitter inc (nyse: twtr ). “eos is ethereum on steriods,” joked buterin, in response to what was presumably more sarcasm from ethereum developer josh stark who asked what eos was. eos is a smart contract platform that quickly gained popularity after its launch in 2018, where it raised $4.1 billion in an initial coin offering (ico). alibaba loses 2%, nio tumbles 9%: what’s dragging down hong kong stocks today? shares of major u.s.-listed chinese companies were trading lower in hong kong on tuesday, with major tech stocks like alibaba group holdings (nyse: baba ), tencent holdings (otc: tcehy ), baidu inc (nasdaq: bidu ), and jd.com inc (nasdaq: jd ) slipping between 0.9% and 4.6%. in the electric vehicle segment, xpeng inc (nyse: xpev ) and li auto inc (nasdaq: li ) cracked nearly 4%, while nio inc (nyse: nio ) led losses with a near 9% fall. hang seng index down 0.71%; global cues mostly weak. jpm analysts are concerned about the chinese economy in the “absence of a clear covid exit roadmap.” photo by instagramfotografin from pixabay | 2022-06-28 |
barclays cut alphabet inc. (nasdaq: googl ) price target from $3,200 to $3,000. alphabet shares fell 0.9% to $2,154.36 in pre-market trading. deutsche bank lowered cintas corporation (nasdaq: ctas ) price target from $517 to $465. cintas shares rose 0.9% to close at $376.71 on friday. hsbc cut the price target on alibaba group holding limited (nyse: baba ) from $146 to $141. alibaba shares rose 0.8% to $116.89 in pre-market trading. rbc capital cut the price target on walgreens boots alliance, inc. (nasdaq: wba ) from $46 to $42. walgreens shares dropped 0.1% to $38.51 in pre-market trading. raymond james reduced ryanair holdings plc (nasdaq: ryaay ) price target from $125 to $112. ryanair shares fell 1.8% to $67.39 in pre-market trading. check out this: us factory orders might rise this much in may, here's the major macro issues for tuesday credit suisse cut morgan stanley (nyse: ms ) price target from $100 to $95. morgan stanley shares fell 0.5% to $76.40 in pre-market trading. keybanc cut meta platforms, inc. (nasdaq: meta ) price target from $370 to $280. meta platforms shares fell 0.9% to $158.56 in pre-market trading. barclays reduced the price target for snap inc. (nyse: snap ) from $42 to $20. snap shares fell 1.3% to $13.00 in pre-market trading. jp morgan lowered price target for tesla, inc. (nasdaq: tsla ) from $395 to $385. tesla shares fell 0.9% to $675.44 in pre-market trading. needham reduced the price target on carvana co. (nyse: cvna ) from $80 to $31. carvana shares fell 2.2% to $21.40 in pre-market trading. don’t forget to check out our premarket coverage here . | 2022-07-05 |
cnbc american airlines compensates pilots three times for trips cancelled due to technical glitch american airlines group inc’s (nasdaq: aal ) pilots and its pilots’ union has agreed to triple pay for aviators who were able to drop thousands of july flights because of a scheduling program glitch over the july fourth weekend, reported cnbc. pilots will also be getting double pay for peak holiday periods. according to the allied pilots association, the scheduling platform glitch prompted pilots to drop 12,000 flights from their schedules. reuters sas airline cancels flight on pilot shortage, though passenger volume jumped several sas ab (otc: sasdf ) flights were canceled as around 1,000 pilots walked out at its main sas scandinavia arm, overshadowing a traffic surge during june. reuters reported that collapsed talks between the airline and pilots over a new collective bargaining agreement prompted a strike. during june, more than 1.9 million passengers traveled with sas, an increase of approximately 220% compared to the same month last year. disney continues to consolidate its international division - read how walt disney company (nyse: dis ) picked kristen finney to lead content curation for its international division, pushing to make more regional content for streaming. as evp, finney will work on building a team to track and evaluate “content needs and appropriateness for disney+ and star/star+.” finney will oversee content strategy in the regions for disney+ and adult-skewing vertical star, along with linear channels, acting as a centralized hub for international content acquisition information, cross-regional licensing opportunities, content slates, and pipelines, us commits $969m towards airport infrastructure turnaround u.s. transportation department granted $968.6 million to 85 airport projects to fire up the country’s aging aviation infrastructure. some projects will fund new terminals, boost gate capacity, add air traffic control towers, jet bridges, new bathrooms, baggage claim belts, and reconfigure security checkpoints. congress approved the five-year $5 billion airport terminal grant program in november as part of the $1 trillion infrastructure law. wall street journal merck’s potential buyout of seagen expected within next few weeks merck & co inc (nyse: mrk ) is in advanced talks to acquire seagen inc (nasdaq: sgen ), and an agreement on a purchase is expected in the next few weeks, wall street journal reported citing people familiar with the matter. the potential deal could be worth roughly $40 billion or more. the report added that the companies are discussing a price for seagen above $200 a share. drugmakers, health authorities discarding several million covid-19 vaccine doses wall street journal reported that governments, drugmakers, and vaccination sites are discarding several unused covid-19 vaccine doses amid declining demand. packaging in multiuse vials containing from five to 20 doses has also been partly responsible for the wastage. the vials generally must be used within about 12 hours of opening or the remaining doses discarded. blackstone makes $400m investment in environmental commodities exchange xpansiv blackstone inc (nyse: bx ) commits to invest $400 million in xpansiv limited, the market-infrastructure platform for global carbon and environmental commodities. xpansiv helps investors to trade in sustainable assets, including carbon offsets and renewable-energy credits, wsj reported. it also lets investors swap offsets linked to green projects such as preserving trees, credits companies receive for buying clean power, and oil and gas contracts accounting for the carbon footprint. bloomberg microsoft cloud veteran official quits after reports of verbal abuse to staff microsoft corp (nasdaq: msft ) cloud vp tom keane’s linkedin post disclosed his departure from the tech giant after 21 years. keane’s linkedin post read, “taking the next step in my career to build on the world’s computer.” the departure follows a report accusing keane of verbally abusing staff, bloomberg reports. keane reportedly made an employee cry in a public meeting earning the nickname “king tom” behind his back. as tesla faces trial over 2018 fatal crash, prospective jurors profess to being’ big elon musk fans’ electric vehicle manufacturer tesla, inc. (nasdaq: tsla ) is facing a case in a florida court over a fatal crash involving one of its vehicles. ahead of the trial, it has come to light that prospective jurors were huge elon musk fans, bloomberg reported. the report noted that one of the prospective jurors, a middle-aged woman, said she was a big fan of musk in response to a query by the judge about their opinions about evs. two other prospective male jurors also said they were fans of the tesla ceo, with one — an auto-service technician looking to join a local tesla service center — saying that musk has done a lot to improve technology. benzinga donald trump could be subpoenaed with associates for 2020 election interference: fulton county da former president donald trump and his associates could be subpoenaed before a grand jury looking into interference with the outcome of the 2020 presidential election in georgia. fulton county district attorney fani willis did not rule out the possibility of subpoenaing trump and his associates, reported nbc. “we’ll just have to see where the investigation leads us,” said willis, according to nbc. senate finance committee probe reveals how abbvie exploits offshore subsidiaries to avoid tax bills provisions in the 2017 republican tax law allow abbvie inc (nyse: abbv ) to generate most of its sales in the u.s. while reporting virtually no income in the u.s. for tax purposes. data obtained by the committee shows that abbvie reports virtually no income in the u.s. for tax purposes. in 2020, over 75% of abbvie’s sales were made to american consumers, yet only 1% of abbvie’s income was reported in the u.s. for tax purposes. shiba inu (shib) buying activity surges to 94% on coinbase trading activity for meme coin shiba inu shib/usd on coinbase global inc (nasdaq: coin ) was dominated by “buy orders” on wednesday. according to data from coinbase, a majority of traders on the exchange were buying shib over the last 24 hours. orderbook data shows that 94% of traders on coinbase increased their net position in shib as the token traded between $0.00001029 and $0.00001059. fda authorizes pharmacists to prescribe pfizer’s covid-19 therapy the fda authorized state-licensed pharmacists to prescribe, with certain limitations, pfizer inc’s (nyse: pfe ) covid-19 pill to eligible patients to help improve access to the treatment. “since paxlovid must be taken within five days after symptoms begin, authorizing state-licensed pharmacists to prescribe paxlovid could expand access to timely treatment for some patients,” patrizia cavazzoni, director for the fda’s center for drug evaluation and research, said in a statement. the agency said patients who tested positive for covid-19 should bring their health records for the pharmacists to review for kidney and liver problems. alibaba snaps winning streak, nio, ev peers slip: what’s dragging hong kong stocks today honk kong stocks were trading lower early on thursday, with most u.s.-listed chinese tech and electric vehicle shares slipping into the red, despite positive cues from global markets. tech retreat: alibaba group holding ltd (nyse: baba ) fell after three straight sessions of gains. the stock recently picked up momentum amid upbeat analyst views about the company’s june-quarter earnings and on hopes of easing regulatory crackdowns in china. jd.com inc. (nasdaq: jd ) fell again on thursday, while technology and entertainment conglomerate tencent holdings ltd (otc: tcehy ) ticked up. apple introduces’ groundbreaking security capability’ for some users: here’s what it’s all about apple inc (nasdaq: aapl ) is previewing a measure to protect people who face sophisticated cyberattacks. the tim cook-led company said it is “previewing a groundbreaking security capability” for users targeted by cyberattacks from private companies that develop state-sponsored mercenary software, according to a statement on wednesday. “lockdown mode” is set to be released this fall along with ios 16, ipados16, and macos ventura, according to apple. biden speaks to brittney griner’s wife cherelle: he’s pursuing ‘every avenue’ to bring wnba star home from russia cherelle griner released a statement wednesday following a phone call with president joe biden and vp kamala harris saying, “i am grateful to the both of them for the time they spent with me and for the commitment they expressed to getting bg home.” cherelle griner had been seeking a meeting or some form of relevant contact with the white house since her wnba superstar wife was arrested at a moscow airport on february 17 for allegedly having cannabis oil in her suitcase. following monday’s direct, if frustrated, plea to biden on “cbs mornings” with gayle king, cherelle griner finally got a direct response from the president. elon musk had secret twins with neuralink exec before having 2nd child with grimes, report says tesla inc (nasdaq: tsla ) ceo elon musk reportedly fathered twins with neuralink executive shivon zilis last year. in april, musk and zilis filed a petition to change the children’s names to “have their father’s last name and contain their mother’s last name as part of their middle name,” according to documents seen by insider, reported rolling stone. the children were born just before musk and his former partner and musical artist, claire elise boucher, better known as grimes, had a child in december. photo via wikimedia commons | 2022-07-07 |
an art collective that has produced some viral limited edition collections ranging from artwork, sneakers and social media posts has a new collection this week that involves popsicles. here are the details. what happened : the newest collection from mschf (pronounced mischief) is a pop-up ice cream truck selling “ eat the rich popsicles. ” the popsicles feature the likenesses of five of the richest and most well known billionaires in the world. here are the five people included: elon musk, tesla inc (nasdaq: tsla ) ceo: “munch musk” jeff bezos, amazon.com inc (nasdaq: amzn ) founder: “bite bezos” bill gates, microsoft corporation (nasdaq: msft ) co-founder: “gobble gates” mark zuckerberg, meta platforms (nasdaq: meta ) co-founder: “suck zuck” jack ma, alibaba group holding (nyse: baba ) co-founder: “snack on jack” the popsicles are $10 each and can be found at two locations from july 11 to july 13. the locations are: new york – columbus circle 848 columbus circle new york, new york 10019 los angeles, california – santa monica pier 200 santa monic pier santa monica, california 90401 the new york location will be open 11 a.m. et to 6 p.m. et the three days. the california location will be open 11 a.m. pt to 6 p.m. pt the three days. related link: 5 things you might not know about elon musk why it’s important: the popsicles feature the images and likenesses of three of the four richest people in the world, with musk and bezos ranking first and second respectively on the bloomberg billionaires list and gates ranking fourth. zuckerberg, who saw a significant drop in his wealth in the first half of the year, ranks 17th. ma ranks 31st. this is the 81st drop from mschf and like the others will only be available as a limited edition drop. here is a list of the previous drops including scratch and sniff lottery tickets and every episode of “the office” recreated in slack , the workplace messaging company now owned by salesforce.com (nyse: crm ). photo: courtesy of eattherichpopsicles.com | 2022-07-10 |
shares of nio inc - adr (nyse: nio ) were trading lower monday as china deals with surging covid-19 cases and nio announced it is forming a committee to investigate recent short seller allegations. regulatory pressures: nio investors had several different headlines likely moving the stock on monday. related link: nio analyst dismisses short seller allegations: why they're bullish on chinese ev stock first, chinese stocks were pressured by the latest round of covid-19 breakouts in parts of china. china has implemented a strict zero-covid policy, and investors are concerned about the potential for another round of full lockdowns in major chinese cities to weigh on the economy. in addition, alibaba group holding ltd - adr (nyse: baba ) and tencent holdings adr (otc: tcehy ) were hit with yet another round of antitrust fines, suggesting the ruling chinese communist party remains determined to limit the power and growth of its largest tech companies. related link: rivian shares jump 10% after reaffirming production guidance, but here's why analysts remain skeptical nio responds to short seller: nio announced on monday that it will form an independent committee to investigate allegations by short seller grizzly research that nio is playing "accounting games to inflate revenue and boost net income." the grizzly report was released in late june, and nio has said it "contains numerous errors, unsupported speculations and misleading conclusions and interpretations." finally, bank of america analyst ming hsun lee hosted a conference call with nio management on monday to discuss details of the company's strategic outlook. in a new note, lee said nio is on track for a number of product launches and updates between now and the end of 2024. management said nio has increased its daily production capacity from 400 units to 600 units, and orders for both the es7 and et7 have been strong. "nio is targeting ebitda to break even in 4q23, with a quarterly delivery of over 100k units, similar to what its rival tesla achieved previously," lee said. nio also said it expects to transition to profitability in 2025. bank of america has a buy rating and $31 price target for nio. benzinga's take: the bank of america report suggests nio's underlying business is booming as it ramps up production, rolls out new vehicles and pushes toward profitability. yet nio's stock may continue to struggle from outside pressures, including short sellers and its own government. photo courtesy of nio. | 2022-07-11 |