Zynga has acquired Echtra Games for an undisclosed sum, the game developer announced on March 3. Echtra Games is a game studio developing games that can be played across various platforms and whose core team members have worked on developing gaming franchises like Diablo, Diablo II, and the Torchlight. Zynga’s (ZNGA) CEO Frank Gibeau said,
Stock Market
Take a look at some of the biggest movers in the premarket: Okta (OKTA) – Okta tanked 10.5% in premarket trading after announcing it is buying customer management software provider Auth0 for $6.5 billion in stock. The provider of identity management software also reported quarterly earnings of 6 cents per share, compared to consensus forecasts
by Charles Hugh-Smith The mutually reinforcing crises aren’t in the future, they’re here now, and Jay Powell’s shuck-and-jive has lost its magical powers to cloak the rot with speculative bubbles. How many more times do we have to watch Jay Powell claim his speculative bubble isn’t a bubble, and that his massive expansion of billionaires’ fortunes
fuboTV (FUBO) has only been a publicly traded entity for six months, but it has had plenty of ups and downs already. The stock’s latest move was decidedly downbeat; Investors appeared disappointed with the company’s 4Q20 results, sending shares sharply into the red. The naysayers will point out their main beef still holds: fuboTV remains
American Eagle clothing and accessories retailer American Eagle store seen in Tokyo. Budrul Chukrut | SOPA Images | Light Rocket | Getty Images Check out the companies making headlines after the bell on Wednesday: American Eagle Outfitters – The clothing company’s stock jumped 4.2% on the back of better-than-expected results for the fourth quarter. American
by Michael Snyder I didn’t think that this would happen. A few years ago when the U.S. national debt crossed the 20 trillion dollar mark, I didn’t think that it would ever get to 30 trillion. But at this moment the U.S. national debt is around 28 trillion dollars, and our politicians in Washington are
A moat is often talked of as the element to make a company truly stand out from the pack. For Deutsche Bank analyst Ashish Sabadra, UWM Holdings Corporation (UWMC) is one such name in possession of the elusive quality. After a conversation with UWM’s CTO, Sabadra came away believing UWM’s proprietary technology is its “key
Shoppers enter a Michaels store in Miami, Florida. Scott McIntyre | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Rocket Companies – The online mortgage provider’s stock dropped close to 20% after a surprise rally in the previous session as analysts urged caution in the heightened speculative trading in the
by confoundedinterest17 Wow. Everything seems to be surging in price. Yesterday, I wrote about rising food prices along with rising lumber prices. A former Ohio State University student, Brett Reid, asked me about alternative building material prices since lumber is getting so expensive. Well Brett, here are the rising futures prices of steel rebar and iron
Beyond Meat expects to raise $979.4 million from its debt offering after deducting the initial purchasers’ offering expenses, discounts, and commissions. Beyond Meat (BYND), the plant-based meat company, intends to use $73 million of the net proceeds to fund the cost of capped call transactions in relation to the pricing of notes and the remainder
A worker wrestles a stand of drill pipe into place on a drilling rig near Midland, Texas. Nick Oxford | Reuters The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s an important turning point for the fossil fuel sector, which has been anticipating big changes
by Michael Snyder Is the quality of life in America getting better, or is it getting worse? Americans certainly have a lot more “money” than they did when I was a kid, but that doesn’t mean much because the U.S. dollar has only a fraction of the value that it did back then. And without
Several small-cap biotech firms have used the coronavirus as a springboard, and since the pandemic’s onset many have become almost household names. Despite making meaningful market strides over the past year, VBI Vaccines (VBIV) is not one that immediately springs to mind. However, Raymond James analyst Steven Seedhouse claims the company could yet make an
Air travelers walk toward a Lyft pickup area at Los Angeles International Airport (LAX) on August 20, 2020 in Los Angeles, California. Mario Tama | Getty Images Check out the companies making headlines after the bell on Tuesday: Lyft – The company’s stock gained 4.9% after the company said it had its best week in
by Michael Snyder After everything that has taken place over the past year, there shouldn’t be a need to sound the alarm any longer, because everyone should be awake by now. But of course that is not the case. At this moment, the vast majority of the population is still dead asleep. This greatly frustrates
The markets are trying to sort out a series of conflicting forces. There’s the bull trend, that’s been pushing stock higher since last summer, which in recent weeks has been partially derailed by fears of inflation. There’s the massive fiscal stimulus of the legislative COVID relief packages, that are helping to fuel that inflationary pressure,
A woman holds a small bottle labeled with a “Coronavirus COVID-19 Vaccine” sticker and a medical syringe in front of displayed Novavax logo in this illustration taken, October 30, 2020. Dado Ruvic | Reuters Check out the companies making headlines in midday trading. Rocket Companies — The online mortgage provider’s stock price skyrocketed more than
by confoundedinterest17 The Urban Institute has an interesting paper entitled “The Preferred Stock Purchase Agreements Will Hamper Access to Credit.” “The changes that Trump administration officials made to the preferred Stock Purchase Agreements (PSPAs) – the contracts that govern Fannie Mae and Freddie Mac’s relationship with the US Treasury – would restrict the volume of “high risk” loans they can
Shares of Gentherm rose 8.3% on Monday after delivering better-than-expected earnings and revenues for the fourth quarter. Furthermore, the developer of innovative thermal management technologies forecasted 2021 revenues above consensus estimates. Gentherm (THRM) reported 4Q product revenues of $288.9 million, which grew 25.4% year-over-year and exceeded the Street’s estimates of $257.3 million. While automotive revenues
Take a look at some of the biggest movers in the premarket: Zoom Video (ZM) – Zoom reported quarterly profit of $1.22 per share, beating the consensus estimate of 79 cents a share. Revenue also topped forecasts, and Zoom gave an upbeat current-quarter forecast in anticipation of millions continuing to use its video messaging platform.
After a devastating setback, Workhorse Group (WKHS) will have to redefine the business plan going forward. The company was wisely building an order book beyond the large electric van contract with the USPS, but the failure to obtain any portion of the contract was unexpected. Workhorse has seen its share price fall below $20, but
A trader working after the Nasdaq opening bell ceremony on April 18, 2019 in New York City. Kena Betancur | Getty Images Check out the companies making headlines after the bell on Monday: Zoom Video – Shares of the video communications company popped 8.5% on the back of better-than-expected fiscal fourth-quarter results. Zoom earned $1.22
We have now officially gone far beyond the point of peak mental illness, and have reached levels of absurdity and abuse that surprises us even after years of writing about these topics. With public schools opening under limited-hybrid “in-person” learning – holy shit that is a mouthful – public school districts and so-called health professionals
Stocks started this year with heft gains, edged back last week, and now are rising again. The big tech giants led the moves, with volatility in Apple and Amazon leading the NASDAQ on its gyrations. The strategy team at investment bank Goldman Sachs have taken notice of the market shakeups, and are working out what
Take a look at some of the biggest movers in the premarket: Hilton Grand Vacations (HGV) – The timeshare company posted a wider-than-expected loss for its latest quarter, while revenue was also below Wall Street forecasts. Hilton Grand Vacations said the pandemic has created a challenging environment but said 85% of its properties are now
by confoundedinterest17 As I discussed yesterday, the Biden Administration is seeing an unprecedented surge in government spending under the auspices of fighting Covid. The Federal Reserve has responded to Covid by increasing their asset purchases to near $8 trillion. And with the ever-increasing asset purchases by the Federal Reserve, national home price indices and commercial real
Camping World Holdings CEO, Marcus Lemonis, said that he remains “very excited” about the company’s prospects in FY21 and projects its adjusted EBITDA to be in the range of $640 million to $690 million, up 13% to 22% year-over-year. Camping World (CWH) also announced that its board of directors has approved a cash dividend of
Warren Buffett’s Berkshire Hathaway posted a 9% decline in 2020 operating income as the billionaire made “no sizable acquisitions” last year, while bumping up share repurchases. Berkshire’s (BRK.B) operating income in 2020 fell 9% to $21.92 billion year-on-year. Meanwhile, operating income in the fourth quarter of last year increased 14% to $5.02 billion. Furthermore, the
Last week, the NASDAQ slipped below 13,200, making the net loss from its all-time peak, reached earlier this month, 6.4%. If this trend keeps up, the index will slip into correction territory, a loss of 10% from its peak. So what exactly is going on? At bottom, it’s mixed signals. The COVID-19 pandemic is starting
by Mike Shedlock Personal income jumped a whopping 10% in January on another round of free money. With another round of $895 billion coming soon, spending will surge as more stimulus money floods the system. Personal Income Jumps 10% In January The Bea’s Personal Income and Outlays Report for January 2021 notes that personal income increased $1,954.7
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