Month: June 2020

Thousands of people were barred from using their cash cards because of the collapse of Wirecard. …read more […]

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Singapore’s central bank said on Tuesday that German payment company Wirecard’s local entities had informed it that they are assessing their ability to continue providing services in the city-state after their parent firm filed for insolvency. “Credit card payments at merchants using Wirecard’s services, as well as usage of pre-paid cards issued by Wirecard, will be affected if it ceases operations here,” the Monetary Authority of Singapore (MAS) said in a statement. There was no immediate response from Wirecard to a Reuters query sent outside business hours. …read more […]

Boeing Co began a series of long-delayed flight tests of its redesigned 737 MAX with regulators at the controls on Monday, hoping to win approval and rebuild its reputation after fatal crashes that toppled its leaders and grounded the jet worldwide. Pilots from the U.S. FAA and Boeing landed around 2:15 p.m. local time at King County International Airport, also known as Boeing Field, after a round trip to eastern Washington that included a high-speed system test and other maneuvers over about three hours. Reuters first reported the long-awaited certification test flights, scheduled over three days, were set …read more […]

(Bloomberg) — Here’s a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook Inc. after critics accused the social network of inadequately policing hateful and misleading content on its platform:Starbucks Corp. — Pausing advertising on all social media platforms. Will post on social media without paid promotion.Microsoft Corp. — Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc — Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Coca-Cola …read more […]

Even as the broader consensus calls for a weak second-quarter showing by Tesla Inc (NASDAQ: TSLA), one analyst sounds optimistic.Strong June Salvages Q2 Showing: Tesla may have delivered 90,000 to 100,000 vehicles in the second quarter, thanks to a robust June, according to Credit Suisse analyst Dan Levy. This compares to the sell-side consensus of 70,000 vehicles.In the first quarter, Tesla delivered 88,496 units, up 40% year-over-year but down 21% from the previous quarter.Giving a break-up of second-quarter deliveries, Levy said the company sold 31,000 cars in China, just under 35,000 from its Freemont, California facility and about …read more […]

Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500’s (NYSE: SPY) total return for the decade was 250.5%. But there’s no question some big-name stocks did much better than others along the way.AT&T’s Difficult DecadeOne underperformer of the last decade was telecom and media giant AT&T Inc. (NYSE: T).AT&T’s decade was defined by two major buyout deals that significantly expanded the company’s reach into the media space.In 2015, AT&T announced a $48.5 billion buyout of direct broadcast satellite service provider DirecTV. In 2018, AT&T completed an $85.4 billion buyout of media …read more […]

(Bloomberg) — Tesla Inc.’s stock price climbed back above $1,000 after Chief Executive Officer Elon Musk suggested the electric-car maker may be able to avoid a second-quarter loss.“Breaking even is looking super tight,” Musk wrote in an email to employees obtained by Bloomberg and first reported by Electrek. “Really makes a difference for every car you build and deliver. Please go all out to ensure victory!”Tesla shares surged 5.2% on Monday to close at $1,009.35. The stock has soared 141% this year, putting its market capitalization on course to rival Toyota Motor Corp., the most valuable automaker in the world …read more […]

Friends and family often ask me where they should put their money now.
I always answer, “Penny pot stocks…”
And then emphasize that I’m kidding.
But people do love themselves some penny stocks. Investors dream of buying a stock in the low single digits and watching it explode to double digits, making many times their money.
However, there are a lot of misconceptions about penny stocks…
So once and for all, I’m going to let you in on what is true and false about them.
Myth No. 1: Penny stocks have greater potential to double or triple than larger stocks do.
Investors believe it’s much easier for …read more […]

Stock futures hugged the flat line Monday evening as overnight trading kicked off heading into the final session of the month and quarter. …read more […]

Last week, along with the market retracement, shares of online sports betting company DraftKings (DKNG) dropped by 20%. The plunge cannot detract from the fact that since going public through a reverse merger in April, the stock has still outperformed the market considerably – up by over 70% (and by 210% since the turn of the year including the period prior to the reverse merger when trading as Diamond Eagle).Some company insiders took advantage of the rally by unloading their shares last week. A recent SEC filing showed that DraftKings founder and other top brass offloaded $596 million worth of …read more […]

There’s one cannabis market that has dominated my conversations with cannabis insiders recently: Pennsylvania.
A lot of national attention is given to New York and New Jersey, and what the future might hold for those major East Coast population centers. Illinois also earns a lot of fanfare as the Midwest stronghold. And, of course, we have those densely packed, sunny bookends of the U.S. – California and Florida.
But the blue-collar state of Pennsylvania often gets lost in the discussion. And yet, this is an opportunity everyone I know in the cannabis industry is excited about.
Growing Cannabis Market Makes Pennsylvania Top Choice
If …read more […]

(Bloomberg) — Wells Fargo & Co. plans to cut its dividend, breaking with all of the biggest Wall Street banks, after the Federal Reserve last week set new restrictions on the payouts.“There remains great uncertainty in the path of the economic recovery and though it’s difficult to accurately predict the ultimate impact on our credit portfolio, our economic assumptions have changed significantly since last quarter,” Chief Executive Officer Charlie Scharf said Monday in a statement.JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley left their third-quarter payouts unchanged, according to statements from …read more […]

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On Monday, lululemon announced that it is going to acquire at-home fitness startup Mirror for $500 million. Of the acquisition, CEO Calvin McDonald said “it is an exciting opportunity to build upon that vision, enhance [its] digital and interactive capabilities, and deepen [its] roots in the sweatlife.” LULU shares jumped on the news after-hours, while Peloton’s stock came under pressure. Jared Blikre breaks down the details of the merger, and what it means for trends in home workout alternatives. …read more […]