Month: August 2020

The coronavirus isn’t going away just yet. The number of cases in the US passed 4.5 million, bringing the total number of US deaths to 158K.The need for a vaccine could not be more profound. While the data is alarming, the good news is that with each passing day, a vaccine solution is closer to becoming a reality. There are several candidates in the race hoping to be first to market. B.Riley FBR analyst Mayank Mamtani believes Novavax’s (NVAX) vaccine candidate, NVX-CoV2373, could make its way from the back of the pack to the front.Mamtani said, “While acknowledging the 6-8 …read more […]

Activision Blizzard beat Street expectations for EPS and revenue, reporting $0.81 EPS and $1.93B in revenue, higher than the Street expected $0.69 EPS and $1.7B in revenue. Yahoo Finance’s Jared Blikre joins The Final Round …read more […]

Elon Musk renews the threat to leave California he first made during a fight over the reopening of Tesla’s Fremont plant during the coronavirus lockdown. …read more […]

Disney unexpectedly posted an adjusted profit per share where a loss had been expected, after the coronavirus pandemic hit the company in its most lucrative theme parks, media networks and studio film businesses. Myles Udland, Seana Smith, Dan Roberts, and Jared Blikre discuss on Final Round. …read more […]

(Bloomberg) — Oil climbed to the highest level in nearly two weeks after an explosion at Lebanon’s main port rocked the capital Beirut, stoking fears over instability in the region.Footage showed what appeared to be a fire, followed by crackling lights and then a larger explosion as an enormous cloud of smoke engulfed the area around the Port of Beirut. Authorities say it was caused by highly explosive materials at the port, but didn’t immediately say whether it was an accident or an attack.Crude futures in New York clung to gains in after-market trading with the industry-funded American Petroleum Institute …read more […]

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A fresh round of earnings beats triggered new highs in Big Tech.
The Nasdaq is rapidly closing in on 11,000 and is up 21.5% year to date.
We’ve preached here again and again that, in 2020, “tech is king.”
But another hot sector is about to dive headlong into the heart of earnings this week. And that means investors should be prepared for a new wave of volatility.
In fact, we’ve already witnessed some big pops and drops…
A Double Dose of Double-Digit Moves
Cannabis is on a tear.
Last week, I wrote that pot stocks have been blazing higher since their March lows. And cannabis company …read more […]

(Bloomberg) — Prudential Financial Inc. posted a second-straight quarterly loss and said it expects low interest rates will continue to weigh on results.The life insurer posted a net loss of $2.41 billion, compared with net income of $708 million a year earlier. The loss was driven in part by a decline in the value of its derivatives holdings due to tightening credit spreads. Asset-management unit PGIM was a bright spot.Key InsightsPrudential is looking to weather a low-interest-rate environment by repricing and pivoting to less rate-sensitive products, it said in an earnings statement Tuesday. The company cut its long-term forecast for …read more […]

Beyond Meat released its second quarter earning report after hours on Tuesday. The company beat investors’ expectations on revenue and matched on earnings per share, saying that its full-year outlook would remain suspended. Yahoo Finance’s Brian Sozzi joins The Final Round panel to break down the food company’s earnings report. …read more […]

Activision Blizzard smashed Wall Street expectations for Q2 on the strength of its ‘Call of Duty’ and mobile franchises. …read more […]

Yahoo Finance catches up with Beyond Meat founder and CEO Ethan Brown to discuss second quarter earnings. …read more […]

The stock market has been holding up remarkably well, but why? Against the backdrop of weak second quarter earnings results, investors are piling in on the hope that a COVID-19 vaccine is coming, there will be additional stimulus and corporate profits will bounce back.Morgan Stanley’s chief U.S. equity strategist Mike Wilson believes the U.S. is experiencing a V-shaped recovery, noting that the current state of the market resembles other recessionary periods right before economic expansion took place. He argues that given the possibility of a “tremendous” rise in operating leverage post-pandemic, the increased efficiency will translate to higher profits.Taking this …read more […]

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Wedbush Securities Managing Director Dan Ives joins Yahoo Finance’s Kristin Myers to break down the pros and cons of Microsoft’s possible acquisition of TikTok, and what it could mean for Big Tech. …read more […]