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IBM misses quarterly sales estimates, shares fall

International Business Machines Corp missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty. The 109-year old firm is preparing to split itself into two public companies, with the namesake firm enhancing its focus […]

Goldman Sachs profit more than doubles on underwriting, trading boost

By Anirban Sen and Matt Scuffham (Reuters) – Goldman Sachs Group Inc (NYSE:GS) dwarfed Wall Street estimates as its fourth-quarter profit more than doubled, powered by another blowout performance at its trading business and a surge in fees from underwriting a series of blockbuster IPOs. Revenue from global markets, which houses the bank’s trading business, registered its […]

Large Addressable Market Gives Palantir Plenty of Upside

(investor place) – Data analytics is a hot topic right now and Palantir Technologies (NYSE:PLTR) is leading this trend. After its IPO in September 2020, the stock is now one of the most held investments in the market. This comes as no surprise given the dominant presence of PLTR stock in the tech space and growing support […]

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What Do Correlation Coefficients Positive, Negative, and Zero Mean?

(investopedia.com) – Correlation coefficients are indicators of the strength of the relationship between two different variables. A correlation coefficient that is greater than zero indicates a positive relationship between two variables. A value that is less than zero signifies a negative relationship between two variables. Finally, a value of zero indicates no relationship between the […]

Will Wells Fargo Stock Reach $50 By 2022?

Wells Fargo Stock Forecast (Benzinga) – Wells Fargo provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. The company operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. Wells Fargo was founded in 1852 and is headquartered […]

JPMorgan Blasts Q4 Earnings Forecast On $1.9 Billion Credit Provision Gain, Investment Banking Revenues

(thestreet) – JPMorgan Chase  (JPM) – Get Report posted much stronger-than-expected fourth quarter earnings Friday as investment banking profits surged and the group booked a benefit of $1.9 billion from its earlier credit provisions. JPMorgan said earnings for the three months ending in December were pegged at $3.79 per share, up 47% from the same period last year […]

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Microsoft, Salesforce, Oracle Join Hands To Develop COVID-19 Vaccine Passports

(Benzinga) – A coalition made up of health and technology companies which include both Microsoft Corporation MSFT, Salesforce.com Inc CRM, and Oracle Corporation ORCL is working on developing a digital passport for COVID-19 vaccines. What Happened: The Vaccine Credential Initiative also includes MITRE, Mayo Clinic, Evernorth, The Commons Project Foundation, and CARIN Alliance among others, as per a statement issued Thursday.  “As the world begins […]

Dow, Nasdaq hit record highs as focus turns to Biden’s stimulus plan

By Devik Jain and Medha Singh (Reuters) – The Dow and the Nasdaq hit record highs on Thursday in anticipation of President-elect Joe Biden’s pandemic aid proposal to jump-start a struggling economy after data highlighted weakening labor market conditions. The Labor Department’s weekly jobless report showed the number of Americans filing for unemployment benefits increased […]

Alibaba Launches Electric Sedan In Partnership With China’s Largest Automaker: What You Need To Know

(Benzinga) – Alibaba Group Holding Ltd (NYSE: BABA) launched an electric sedan with state-owned SAIC Motor, China’s largest car company, Nikkei Asia reported Thursday (Hong Kong Time). What Happened: The vehicle, capable of wireless charging, was launched under a new brand — IM. The acronym stands for “intelligence in motion,” according to Nikkei Asia. The car was jointly developed by […]

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Stock market news live updates: Stock futures point to a lower open

(Yahoo finance) – Stock futures pointed to a slightly lower open Wednesday morning. The three major indexes ended mixed during the regular session a day earlier, with the S&P 500 and Dow higher while the Nasdaq sank as tech stocks came under renewed pressure. Energy stocks – the laggards throughout 2020 – jumped on Tuesday […]

App stores saw record 218 billion downloads in 2020, consumer spend of $143 billion

(Tech Crunch) – Mobile adoption continued to grow in 2020, in part due to the market forces of the COVID-19 pandemic. According to App Annie’s annual “State of Mobile” industry report, mobile app downloads grew by 7% year-over-year to a record 218 billion in 2020. Meanwhile, consumer spending grew by 20% to also hit a […]

PayPal blocks site that helped raise funds for those who attended Capitol violence

By Kanishka Singh (Reuters) – PayPal Holdings Inc (NASDAQ:PYPL) said on Monday it had blocked a Christian crowdfunding site, GiveSendGo, after it helped raise funds for people who attended last week’s event in Washington when supporters of President Donald Trump stormed the Capitol. The digital payments processor also confirmed to Reuters that it closed an account held […]

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How to Turn $3,000 Into $41 Million: Investing Lessons From a Century

(BARRON’S) – The Dow Jones Industrial Average and the S&P 500 have returned about 10% a year for a century. Those returns mean $3,000 invested at the end of 1920 would be worth roughly $41 million today. Barron’s took a look at the numbers because we are turning 100. It was partly an exercise in nostalgia, but also a fascinating walk […]

Airbnb Shares Are Overpriced But a Dip Seems Unlikely

(Investor Place) – In the month since Airbnb’s (NASDAQ:ABNB) IPO one thing is fairly clear: Airbnb stock was perfectly priced and there looks to be little reason to buy now. Many of my colleagues at InvestorPlace expressed the idea that Airbnb shares are likely to have a bright future. Those same colleagues also readily admit that right now the […]

How Micron Makes Money

(Investopedia.com By NATHAN REIFF Updated Jan 9, 2021) Micron Technology, Inc. (MU) develops and manufactures memory and storage technologies used in personal computers, networks, data centers, and the automotive industry.1  Across its global brands, including Micron and Crucial, the company produces memory cards, drives, and infrastructure technology.2 As one of the leading semiconductor companies, Micron faces […]

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What Biden and a Blue Wave Mean for First Solar

By Liz Moyer and Peter Nurse Investing.com — With a solidly blue Congress, President-elect Joe Biden’s $2 trillion clean energy plan has a greater chance of succeeding, and that’s welcome news to solar companies. The prospect has lifted the energy sector overall this year after a decade of being the dog of the S&P 500. First […]

Best Asian Stocks to Buy for 2021

(The street) – Here in Hong Kong, we were terrified when a mystery virus emerged in Wuhan, a topic I first wrote about on Jan. 21. Thanks to the experience of SARS in 2003, Asia has fared a lot better than other parts of the world, with voluntary mask-wearing and social distancing taking hold a lot […]

Tesla To Launch $25,000 EV Sedan In China By 2022: Report

(Bemzinga) – Tesla Inc (NASDAQ: TSLA) is making its vehicles more price competitive to gain a bigger chunk of the Chinese EV market, if reports are to be believed. What Happened: Tesla is planning to produce a third EV model from the Shanghai Giga in 2022, with the price point estimated between 160,000 yuan ($24,700) and 200,000 yuan […]

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Moderna CEO says vaccine likely to protect for ‘couple of years

PARIS (Reuters) – Moderna (NASDAQ:MRNA)’s COVID-19 mRNA vaccine is likely to offer protection of up to a couple of years, its chief executive said on Thursday, even though more data is still needed to make a definitive assessment. The U.S. biotech company, which stunned the world last year by coming up with a vaccine against the disease […]

Ford quarterly U.S. sales fall 9.8% as truck sales dip

(Reuters) -Ford Motor Corp on Wednesday posted a 9.8% fall in quarterly U.S. auto sales, as a fall in sales of its profitable trucks outweighed higher demand for sport utility vehicles. The No. 2 U.S. automaker sold 542,749 vehicles in the fourth quarter, down from 601,862 a year earlier. The automaker posted a 12.5% decline in […]

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QuantumScape stock falls more than 30%, its most ever

(Market Watch) – Shares of electric car-battery developer QuantumScape Corp. fell the most ever on Monday, a day that saw stocks of EV makers soaring on sales news. QuantumScape QS, -40.26% shares were down nearly 39% at last check, poised for their lowest close since Dec. 7 and suffering their worst one-day percentage loss on record. Related: Tesla and […]

Novavax Stock Is up Over 2,900% This Year. How Much Higher Can It Go?

Returns wise, Novavax (NVAX) has undoubtedly been the most successful coronavirus stock of them all, with 2020 gains hitting an amazing 2920%. However, heading into the year’s final stretch, the vaccine specialist’s COVID-19 vaccine candidate NVX-CoV2373 has been at danger of getting cut adrift from the competition. Both Moderna’s (MRNA) mRNA-1273 and Pfizer (PFE)/BioNTech’s (BNTX) […]

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BMW Raises 2023 EV Manufacturing Target By 250,000 Units

(Benzinga.com) – German automaker Bayerische Motoren Werke ADR (OTC: BMWYY) is gearing up to increase its presence in the electric vehicles segment in the next two years. The luxury carmaker is planning to increase its 2023 forecasted output by about 250,000 units. What Happened: According to Reuters, the update about the production targets cropped up during BWM CEO Oliver Zipse’s […]

Nikola’s stock crashes after announcing the cancelation of the contract with Republic Services for 2,500 garbage trucks

(Tech Crunch) – The undoing of Nikola continues. Today, the company announced the termination of its contract with Republic Services for 2,500 garbage trucks. Announced back in August, the deal had Nikola building garbage trucks in 2023 with on-road testing scheduled for 2024. This is the latest deal to unravel for Nikola as it tries to patch up […]

Exclusive-U.S. to blacklist dozens of Chinese firms including SMIC, sources say

By Alexandra Alper, David Shepardson and Humeyra Pamuk (Reuters) – WASHINGTON (Reuters) – The United States is set to add dozens of Chinese companies, including the country’s top chipmaker SMIC, to a trade blacklist on Friday, two people familiar with the matter told Reuters on Thursday. The move, which has not previously been reported, is […]