Month: June 2020

(Bloomberg) — Spotify Technology SA shares surged Friday, with the stock moving further into record territory after a pair of analysts said the company’s move into podcasts makes them even more bullish.The company recently announced a number of high-profile podcasts deals, including with Joe Rogan and DC Comics. There’s reportedly also a pact with Kim Kardashian West.“We not only see attractive monetization potential” from these deals, but they could lead to “future leverage to premium subscription pricing and label negotiations,” wrote Rosenblatt Securities analyst Mark Zgutowicz. The podcasts “present attractive leverage characteristics to users and revenue,” he added, raising his …read more […]

(Bloomberg) — Traders struggling to keep up with gyrations in U.S. stocks just got jolted by a surge of trading volume.Transactions in stocks spiked amid a quarterly event known as quadruple witching, when options and futures on indexes and equities expire. During the first 15 minutes of trading, volume on the S&P 500 was about 70% higher than the average for that time of day over the past 30 sessions.Quadruple witching usually coincides with a rebalancing of major indexes such as the S&P 500 and can spark some of the busiest trading days of the year. While the global market …read more […]

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My youngest daughter will be a good investor.
That is because she’s a deep thinker. She proudly likes to say, “Daddy says I ask the best questions” – and she does.
The kid shocks me with what comes out of her mouth sometimes.
I remember one occasion when she couldn’t have been more than 3 years old. We were in the car coming back from swimming lessons at the YMCA. We were stopped at a red light, and she was staring out the window, deep in thought.
Curious as to what was going on in that little head, I asked her what she was …read more […]

A Quicken Loans IPO was confidentially filed with the SEC. With over 35 years of experience, the company is the top mortgage lender in the country. But is Quicken Loans stock a good investment?
Here’s what we know…
Quicken Loans IPO: The Business

Billionaire Dan Gilbert co-founded Quicken Loans in 1985 with Ron Berman, Lindsay Gross and brother Gary Gilbert. The company’s original name was Rock Financial, later Rock Financial Corp in 1987. About a decade later, Gilbert took Rock Financial public in an IPO. And in 1999, Intuit Inc. bought the company for $523 million. Intuit renamed it Quicken Loans. Gilbert and …read more […]

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(Bloomberg) — Some of Wirecard AG’s most-loyal shareholders have sold their stakes as allegations of accounting impropriety engulf the German payments company.Alexander Darwall, who has held Wirecard shares since at least 2010, instructed his investment firm to sell all of its holdings, while Alken Asset Management, which has owned the stock since 2008, did the same. DWS Group, which had built a Wirecard position that reached about 1 billion euros ($1.1 billion) across several funds by the end of October, has also cut its exposure.Wirecard’s Chief Executive Officer Markus Braun resigned with immediate effect on Friday, after two Asian banks …read more […]

Shark Tank’s Barbara Corcoran says she wouldn’t put her money in the hot new electric truck company Nikola. …read more […]

The 15 Percent Pledge focuses on a tangible goal — getting big box stores to commit to dedicating 15% of its shelf space to black-owned businesses. The problem is getting black entrepreneurs to the level of scalability. …read more […]

(Bloomberg) — The meltdown at Wirecard AG is raising questions about the company’s complicated relationship with the troubled SoftBank Group Corp.The Japanese conglomerate signed a strategic cooperation agreement with the payments firm last year and agreed to buy $1 billion of Wirecard convertible bonds, although that exposure was later cut through a complex transaction. This month, a partner at SoftBank’s investment arm was on track to become a supervisory board member at Wirecard.Then on Thursday, Wirecard revealed that auditors had been unable to find about 1.9 billion euros ($2.1 billion) in cash that was supposed to be held in Asian …read more […]

Top news and what to watch in the markets on Friday, June 19, 2020. …read more […]

Spotify Technology SA (NYSE: SPOT) jumped over 7% on Thursday. The music technology stock climbed from an open price of $209.79 to a closing price of $225.28.
Before dropping down to its closing price, shares of the stock were up 12% during intraday trading. This was a new intraday high for Spotify stock.
But what made the stock jump and is it a worthy longer term investment? Let’s take a closer look at Spotify stock and see if we can answer those questions.

Why Spotify Stock Surged Yesterday
In short, the music and podcasting technology company jumped yesterday because it inked a new deal …read more […]

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(Bloomberg) — Wirecard AG shares continued their free-fall after the two Asian banks that were supposed to be holding 1.9 billion euros ($2.1 billion) of missing cash denied any business relationship with the German payments company.Wirecard now faces a potential cash crunch. The company warned Thursday that loans up to 2 billion euros could be terminated if its audited annual report was not published on Friday. Analysts at Morgan Stanley estimated that Wirecard has available cash of around 220 million euros, if it cannot locate the missing $2.1 billion.BDO Unibank Inc., the Philippines’ largest bank by assets, and the Bank …read more […]

(Bloomberg) — Wirecard AG shares continued their free-fall after the two Asian banks that were supposed to be holding 1.9 billion euros ($2.1 billion) of missing cash denied any business relationship with the German payments company.Wirecard now faces a potential cash crunch. The company warned Thursday that loans up to 2 billion euros could be terminated if its audited annual report was not published on Friday. Analysts at Morgan Stanley estimated that Wirecard has available cash of around 220 million euros, if it cannot locate the missing $2.1 billion.BDO Unibank Inc., the Philippines’ largest bank by assets, and the Bank …read more […]