Month: May 2020

(Bloomberg) — Kingsoft Cloud Holdings Ltd. rose 40% in the first major trading debut by a Chinese company since the accounting scandal at Luckin Coffee Inc.The affiliate of Hong Kong-listed Kingsoft Corp. raised $510 million in its initial public offering, pricing its shares at the midpoint of a $16 to $18 targeted range. The shares closed at $23.84 in New York trading Friday, giving the company a market value of $4.77 billion.The Beijing-based cloud computing service company, which had marketed 25 million shares, increased the sale to 30 million American depositary shares.The IPO is the biggest by a Chinese company …read more […]

The move will help Southwest save cash at a time when U.S. airlines collectively burn more than $10 billion a month. Last month, rival United Airlines agreed to sell and lease back 22 planes to aircraft investor Bank of China Aviation. United, however, did not specify the size of the deal. …read more […]

(Bloomberg) — Syed Shah usually buys and sells stocks and currencies through his Interactive Brokers account, but he couldn’t resist trying his hand at some oil trading on April 20, the day prices plunged below zero for the first time ever. The day trader, working from his house in a Toronto suburb, figured he couldn’t lose as he spent $2,400 snapping up crude at $3.30 a barrel, and then 50 cents. Then came what looked like the deal of a lifetime: buying 212 futures contracts on West Texas Intermediate for an astonishing penny each.What he didn’t know was oil’s first …read more […]

Tesla must follow the same rules that apply to other non-essential businesses, Alameda County officials said. …read more […]

On Friday, the major averages ended near session highs, after new data revealed the coronavirus pandemic sparked a historic labor market collapse in the world’s largest economy last month, but at a pace below expectations.Jen Rogers, Myles Udland and Rick Newman break down the day’s market action. …read more […]

Moderna CEO Stephane Bancel stated that the company’s new coronavirus vaccine, which was clear for a phase 2 trial on Thursday by the FDA, would not be ready for immediate release to the public and that the distribution of the potential vaccine would need to be handled carefully between Moderna and the White House. Yahoo Finance’s Anjalee Khemlani joins The Final Round panel to break down the latest news about the coronavirus. …read more […]

…read more […]

Yahoo Finance’s Myles Udland and Meldoy Hahm discuss Tesla’s reopening of its Fremont plant. …read more […]

Horrific news on lost jobs sends the Trump-o-meter to an unprecedented new low. …read more […]