Luminar Technologies (LAZR) is only two weeks old, after going public via a SPAC merger, but already a firm favorite among investors. It appears Wall Street’s analyst corps are now slowly joining the fray. Enter Deutsche Bank analyst Emmanuel Rosner who initiates coverage on LAZR shares with a Buy rating and $37 price target. Investors
Stock Market
Traders work on the floor of the New York Stock Exchange. NYSE The stock market appears set on rising into 2021 — a year expected to see some return to normalcy, above trend economic growth, and a higher stock market, according to Wall Street. Even with this year’s sharp sell-off, the S&P 500 is notching
by confoundedinterest17 US housing starts rise 1.2% in November, revealing a V-shaped recovery in housing. With a big assist from falling interest rates. 1-unit starts (single family detached) housing starts rose 7.98% MoM in November, while 5+ unit (apartment) starts rose 22.84% MoM. The biggest winner in MoM terms? The northeast! The big loser? The South!
Spotify will launch its music streaming services in South Korea in the first half of 2021, giving Korean listeners access to over 60 million tracks and over 4 billion playlists. Korean artists will also gain exposure to Spotify’s 320 million listeners worldwide. Spotify (SPOT) debuted its first K-pop playlist in 2014 and has seen growth
Take a look at some of the biggest movers in the premarket: Darden Restaurants (DRI) – The restaurant operator reported quarterly earnings of 74 cents per share, beating estimates by 3 cents a share. Revenue came in below forecasts, however, as same-restaurant sales fell 20.6% compared to a FactSet estimate of an 18.3% decline. Darden
by Charles Hugh-Smith This devaluation of financial wealth–and its transformation to a dangerous liability– will reach extremes equal to the current extremes of wealth-income inequality. Financial capital–money–is the Ring that rules them all. But could this power fall from grace? Continuing this week’s discussion of the idea that that extremes lead to reversions, let’s consider the
We cannot live without the sun; it is our largest source of light and warmth, and in the long run, it is the source of all non-geothermal energy that we use. And as more people grow more environmentally conscious, tapping directly into solar energy is growing ever more popular. Politics being downstream of culture, we
Check out the companies making headlines in after hours trading. FedEx — Shares of the shipper slid more than 3% in after hours trading despite FedEx beating top and bottom line estimates during the second quarter. For the period the company earned $4.83 excluding items, on $20.56 billion in revenue. Analysts surveyed by Refinitiv expected
[embedded content] Nurse passes out on live tv after taking vaccine. Time stamp 00:33 pic.twitter.com/YjQmYldmmG — Dr Taylor Marshall 🙏🏻🇺🇸 (@TaylorRMarshall) December 18, 2020 This nurse took the vaccine and then did a live press conference on TV 15 minutes later and this was the result… pic.twitter.com/ryz26v7sYR — MAGAMAN (@LaurenceRusso) December 18, 2020 h/t Jujiboo
As electric vehicle stocks have become a hot sector, the space has rushed out to raise equity and Nio Limited (NIO) is no exception. Like all auto manufacturers, the Chinese EV manufacturer needs substantial funds to roll out new vehicles and expand manufacturing facilities. The stock has dipped some 10% since announcing the fund-raising move
Voters line up for the first day of early voting outside of the High Museum polling station on December 14, 2020 in Atlanta, Georgia. Georgians are headed to the polls to vote in a run off election for two U.S. Senate seats. Jessica McGowan | Getty Images The Georgia Senate runoff elections are a wild
Is President Trump About To Invoke The Insurrection Act And Arrest Government Officials Complicit In Election Fraud? t.co/GgHXRUwrHe — STAR (@AWISHNSTAR2) December 17, 2020 Is President Trump Preparing To Invoke The Insurrection Act Of 1807? This would authorize the deployment of land and naval forces on US soil to stop the insurrection or obstruction of
BioNTech and Shanghai Fosun Pharmaceutical announced an agreement for the supply of an initial 100 million doses of their COVID-19 vaccine BNT162 to mainland China in 2021. BioNTech shares fell 2.8% in Thursday’s pre-market trading. BioNTech’s (BNTX) production facilities in Germany will distribute the initial supply of the vaccine, the company said. BioNTech is an
Take a look at some of the biggest movers in the premarket: Accenture (ACN) – The consulting firm earned $2.32 per share for its fiscal first quarter, compared to a consensus estimate of $2.05 a share. Revenue beat estimates as well. Accenture also raised its full-year forecast, with demand for digital and cloud services remaining
from Kerry Lutz’s Financial Survival Network [embedded content] Bob Hoye has been in investment business for some 50 years. The financial state of the world is totally insane. The powers that be somehow believe that printing money will enable countries to avoid recessions and depressions. It’s like believing that blood-letting will cure whatever ails you. We’re now
Not many sectors offer the potential for big time gains like biotech. Especially when you’re looking at smaller clinical-stage names. Case in point: Veru (VERU) stock has been on one almighty run since announcing an expansion of its oncology drug pipeline last Wednesday; shares have surged 207% in the interim. Specifically, the company has exclusively
Bloomberg | Bloomberg | Getty Images Check out the companies making headlines after the bell Wednesday: Herman Miller — Shares of the office furniture company rose 0.8% in the back of better-than-expected earnings. Herman Miller reported earnings per share of 89 cents, topping a FactSet estimate of 56 cents per share. The company’s revenue also
by Ryan McMaken of Mises Institute Thanks to lockdowns, high unemployment, and general uncertainty and fear over covid-19, the personal saving rate in the United States in October was 13.6 percent, the highest since the mid-1970s. This is down from April’s rate of 33.7 percent, which was the highest saving rate recorded since the Second World War. Moreover, among those
The tech-heavy NASDAQ is trading at all-time high, tempting investors to keep moving into the tech sector. Semiconductor stocks are natural plays, since chip technology underlies pretty much every aspect of the modern digital world. The optimism on semiconductor stocks is also fueled by the transition to 5G wireless networks. Telecom providers have started to
A security guard stands in a greenhouse of Tilray medical cannabis producer’s European production site in Cantanhede, on April 24, 2018. Patricia De Melo Moreira | AFP | Getty Images Check out the companies making headlines in midday trading. Tilray — Shares of Tilray surged more than 20% after the cannabis company and peer Aphria
by Chris Black Republican majority leader Mitch McConnell said yesterday that Joe Biden is the President Elect and the winner of the 2020 election. Not only did he say that, but he warned that any Senator who objects to his fatwa is going to be punished. I am glad to hear that it’s going to be
Shares of Aspen Group fell 6.6% in the extended trading session on Tuesday as the education technology company reported a higher-than-expected loss for the fiscal second quarter (ended Oct. 31) despite strong revenue growth. Aspen’s (ASPU) 2Q FY21 revenue increased 40% year-over-year to $17.0 million, exceeding analysts’ forecast of $15.6 million. The top line was
Take a look at some of the biggest movers in the premarket: Eli Lilly (LLY) – The drugmaker announced a deal to buy Prevail Therapeutics (PRVL) for $880 million or $22.50 per share, with Prevail shareholders also receiving a “contingent value right” worth up to $4 per share subject to future regulatory approvals of Prevail
By Irina Slav Crude oil prices rose to the highest since early spring after the FDA yesterday gave the green light to the Pfizer-BioNTech Covid-19 vaccine, with government officials saying several hundred vaccination sites across the country would be supplied with vaccines by tomorrow. But traders—who have been buying oil and fuels futures with renewed eagerness over the past
Last week, Moderna (MRNA) kicked off its TeenCOVE Study, dosing the first participants in the Phase 2/3 trial of the company’s Covid-19 vaccine candidate mRNA-1273, in healthy adolescents between the ages of 12 to under 18. Moderna has received $955 million of federal funding for the study which is a collaboration with the Biomedical Advanced
The Apple iPhone 12 Pro Max is unveiled during a virtual product launch. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Apple — Apple shares rose more than 3% after Nikkei reported the tech giant will ramp up its iPhone production by about 30% in the first
by Shaun Richards Today reminds me of the article I wrote on the second of April where I was worried about the spectre of mass unemployment. It turns out that I was right on two counts. We have plunged into a type of economic depression but as I warned then we have had a fair
Alarm.com on Dec. 14, announced the acquisition of indoor gunshot detection technology provider, Shooter Detection Systems (SDS). Shares rose 4.1% in Tuesday’s trading. Financial terms of the deal weren’t disclosed. Alarm.com, (ALRM) which offers cloud-based services for remote control, home automation, and monitoring services, said that the acquisition will play a crucial role in the
The Fed may see a brighter long-term outlook when it releases its economic forecasts Wednesday due to vaccine developments, but it also has the opportunity to disappoint at least some investors who are expecting immediate changes in its bond buying program. The market has been divided about whether the Fed would extend the duration of
From Michael Pento, of Pento Portfolio Strategies: When the market cap of equities reaches 183% of GDP and government bonds yield near 0%, or even less overseas, the notion that one can just buy and hold a balanced portfolio is extremely dangerous. The minefield is not packed with IEDs; it is actually replete with tactical nukes.