NorthAmerica
Rivian Automotive Inc (NASDAQ: RIVN) is in focus today after it named Javier Varela is new chief operations officer. Who is Javier Varela?Varela will replace Frank Klein at the electric vehicles company who’s quitting after two years in that role. He has most recently served in a similar role at Volvo Cars. The 59-year-old executive expressed admiration for Rivian’s “commitment to pushing the industry forward with technologically advanced, highly innovative vehicles” in a press release on Friday. Note that Varela will assume the role of COO at the EV firm in August. The news arrives only days ...
Invezz
Coinbase Global Inc (NASDAQ: COIN) has done exceptionally well over the past three months but it may be as far as its shares go at least in the near term. Ryan Lee shares his view on BitcoinThe crypto stock has outperformed this year partially on the back of a sharp rally in Bitcoin. But there’s reason to believe that the world’s largest cryptocurrency by market cap will pullback in May, says Ryan Lee – the chief analyst at Bitget. From the perspective of Fed Net Liquidity, market liquidity is significantly tightening, which may lead to average performance for BTC in May. Options market, he ad...
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Cruise lines served a total of 31.7 million passengers last year – up significantly from 4.8 million only in 2021. Simply put, the industry has made an exceptionally strong comeback after the pandemic. Having said that, here is our list of undervalued cruise stocks that could gain in 2024 as the passenger number continues to climb. Carnival Corp (NYSE: CCL)Carnival is worth buying at about $14.50 a share as it’s down nearly 20% versus its year-to-date high in early January. It’s on our list of top undervalued cruise stocks to buy in 2024 also because it’s the world’s largest cruise company kno...
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Trump Media & Technology Group Corp (NASDAQ: DJT) opened in the red this morning after the Securities & Exchange Commission charged its auditor with “massive fraud”. BF Borgers barred from practicing as an auditorThe malpractice of Benjamin Borgers and his firm BF Borgers CPA affected over 1,500 filings in total for which the federal regulator permanently barred the auditor today from working as an accountant. BF Borgers and its owner will also pay civil penalties worth $14 million, the SEC confirmed in a statement on Friday. In April, Benjamin Borgers’ firm was blocked from accepting new clie...
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Apple Inc (NASDAQ: AAPL) is trading up in extended hours on Thursday after coming in ahead of Street estimates for its fiscal second quarter. iPhone revenue fell short of expectationsThe stock is gaining even though iPhone did not do all that well in Q2. The flagship handset generated $45.96 billion in revenue in the recently concluded quarter (down 10% year-over-year) versus analysts at $46 billion. Tim Cook – the chief executive of Apple Inc said in a press release today: We are focused on providing the very best products and services for our customers, and doing so while living up to the co...
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It’s not too late to invest in Wayfair Inc (NYSE: W) even though it’s already up more than 15% on Thursday, says a Citi analyst. Wayfair stock has upside to $85Ygal Arounian reiterated his “buy” rating on the eCommerce company and raised his price target to $85 in a research note last month. That suggests a whopping 40% upside as Wayfair continues to benefit from its “long-term competitive advantages”. On Thursday, the New York listed firm came in well ahead of Street estimates as layoffs announced in January helped significantly narrow its loss in Q1. $W ended the quarter with 22.3 million ac...
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Plug Power Inc (NASDAQ: PLUG) is in the green at writing after announcing new cryogenic equipment supply agreements with unnamed companies. Here’s what it means for Plug Power stockThe $1.60 billion company based out of Latham, New York will supply a total of five cryogenic trailers for the transport of nitrogen, argon, oxygen and other industrial gases to a party in Canada. Deliveries, it added, are expected in the first quarter of 2025. Andy Marsh – the chief executive of Plug Power said in a press release today: We’re successfully building long term strategic partnership with customers and ...
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Peloton Interactive Inc (NASDAQ: PTON) is pushing to the upside this morning even though it came in shy of Street estimates for the third quarter. Why is Peloton stock up today?The price action is particularly interesting considering the connected fitness company failed to impress with its guidance as well. $PTON now forecasts its revenue to fall between $2.68 billion and $2.70 billion in the current quarter. Analysts, in comparison, were at $271 million. But the stock is up perhaps because of what CEO Barry McCarthy said in a letter to shareholders today: We are announcing a new restructuring...
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eBay Inc (NASDAQ: EBAY) is in the red in extended hours today even though it came in ahead of Street estimates for its fiscal Q1. eBay stock down on muted guidanceThe stock is taking a hit primarily because the management failed to impress with its guidance. $EBAY now forecasts its revenue to fall between $2.49 billion and $2.54 billion on up to $1.15 of per-share earnings. Analysts, in comparison, were at $2.56 billion and $1.14, respectively. Jamie Iannone – the chief executive of eBay Inc said in a press release today: Our accelerating pace of innovation is fundamentally changing the sellin...
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Qualcomm Inc (NASDAQ: QCOM) is trading up in extended trading after reporting market-beating financial results for its second quarter. Qualcomm stock gains on upbeat guidanceShares are pushing to the upside also because the chipmaker issued upbeat guidance for the future. $QCOM now forecasts its revenue to fall between $8.80 billion and $9.60 billion on up to $2.35 of adjusted EPS in Q3. Analysts, in comparison, were at $9.05 billion and $2.17 per share, respectively. Cristiano Amon – the chief executive of Qualcomm said in a press release today: We are excited about our continued growth and d...
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