Month: May 2020

(Bloomberg) — Shopify Inc. surged on Wednesday to become Canada’s most valuable company — but can the e-commerce giant survive being No. 1?Ottawa-based Shopify edged past Royal Bank of Canada to become the largest publicly listed company in Canada. The achievement comes with a dubious distinction, however: those that leapfrogged the value of Canada’s largest bank in the past have faltered.Royal Bank, incorporated in 1869, has been Canada’s most valuable company for years, but has been been eclipsed on a few occasions. Shopify closed with a market value of C$121.3 billion ($85.6 billion), surpassing Royal Bank’s C$120.5 billion.The last company …read more […]

The coronavirus has quickly spread around the globe. Only Antarctica has been spared.
But a massive, global infrastructure buildout is still going on: the 5G mobile communications platform.
I’m not going to sit here and tell you that every 5G-related company is going great guns. Some aren’t.
But in the long term, the 5G story is still intact. And this network is becoming more important than ever.
Hundreds of millions of people in the U.S. and Europe are still stuck at home due to COVID-19. So we’re relying more on our digital devices these days than ever before.
But all of this additional data traffic …read more […]

Lyft announced its first-quarter results after-hours on Wednesday. The ride-share company saw significantly better-than-expected numbers on its top line, although the number of its active riders was less than investors’ expectations. Yahoo Finance’s Myles Udland breaks down Lyft’s earnings report. …read more […]

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Shares in Lyft rose over 16% in after-hours trading. Shares of larger rival Uber Technologies Inc were up 8%. Lyft’s earnings also serve as an indicator for the performance of Uber, which will report results on Thursday. …read more […]

Peloton’s latest quarter went a long way in supporting the bull case for its stock. …read more […]

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]

(Bloomberg) — California reported its largest one-day jump in new cases, adding 2,603 as deaths rose by 95.More than half of small businesses expect to close within six months, according to a new survey. New York City’s average unemployment rate may triple to 12% this year, according to the city comptroller, with more than 900,000 people losing their jobs.President Donald Trump backtracked on disbanding the coronavirus task force and said he’d soon announce new members to focus on reopening, after acknowledging it may cause more people to get ill and die.Germany, the U.K., Denmark and the Netherlands are planning additional …read more […]

(Bloomberg) — Rental-car companies struggling to survive the coronavirus pandemic’s catastrophic blow to their business have been working with automakers to call off purchases, in some cases even redirecting vehicles in transit to their now largely neglected parking lots.General Motors Co. is taking back cars it agreed to sell that were on their way to Hertz Global Holdings Inc., Avis Budget Group Inc. and closely held Enterprise Holdings Inc., a spokesman said. Hyundai Motor Co. also confirmed it has redirected some vehicles to its retailers that it was planning to produce for fleet customers.Early last month, Fiat Chrysler Automobiles NV …read more […]