Shares of customer-intelligence provider Medallia (MDLA) are soaring in their public debut. A day after the company sold 15.5 million shares at $21 each, the surged as much as 88% to a high of $39.54 on Friday. Medallia monitors feedback from customers using tools including social media, devices and the Internet of things, and it provides it to clients, who in turn can make changes in real time to respond.
As one of the world's premiere chipmakers, Intel (NASDAQ:INTC) naturally attracts significant attention from market participants. Rather, it's whether the semiconductor firm has finally addressed its challenges to justify taking a shot at Intel stock. Understandably, many investors are not convinced with INTC stock.
Judie Verb, one of U.S. Bank's new regional executives, calls herself the “classic accidental banker.” She started off college as a poultry science major after growing up on a farm in northwest Ohio. “Yes, there is such a thing as majoring in chickens,” Verb told Denver Business Journal with a laugh. But a tuition-reimbursement work opportunity at a bank changed her major and the course of her life. In June, she was one of six senior banking leaders at U.S. Bank appointed to the newly-created regional executive position within the company's consumer and business banking team. The regional executives will report directly to Tim Welsh, who is the vice chairman of consumer and business banking at U.S. Bank, a subsidiary of U.S. Bancorp (NYSE: USB). “These leaders will play an instrumental role in guiding us as we put customers first, reducing barriers and making it simpler for current and prospective customers to partner with U.S. Bank,” Welsh said in a news release.
Oil fell about 2.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week's hurricane in the region. Prices were further weighed down by economic concerns as U.S. equities were on track for a third consecutive decline. U.S. offshore oil and gas production has continued to return to service since Hurricane Barry passed through the Gulf of Mexico last week, triggering platform evacuations and output cuts.
Medallia's IPO surged out of the gate Friday, soaring 62 percent at the open and rising as high as 83 percent above its IPO price during late morning trading. If Medalia holds onto an 80 percent gain through the close of trading, it would be the best first trading day by a Bay Area's tech IPO this year. Apparently, that IPO price may not have been high enough. Medallia (NYSE: MDLA) soared 62 percent to open at $34 and continued its rocket ride, rising as high as 83 percent to $38.50 a share.
New data from web analytics firm SimilarWeb found an encouraging trend regarding Snap Inc (SNAP). “More people are visiting Snapchat to advertise,” according to Pascal Cohen, the head of solution implementation and engineering at SimilarWeb.com. Similarweb compared global visits to Snap's advertising platform ads.snapchat.com, in the second quarter, with visit's to Facebook's (FB) advertising platform business.facebook.com.
Costco Wholesale Corp. (COST), the members-only, big box discount retailer, charges $60 for it's lowest level membership, the Costco Gold Star membership. This may seem like steep cost to buy things, but Costco uses a subscription model of business for three reasons. With several large supermarkets, Wal-Mart Stores, Inc. (WMT) Supercenters, Target Corp. (TGT), Sam's Club, BJ's Wholesale Club, and a variety of neighborhood groceries and farmer's markets, Americans have lots of choice about where to spend their weekly food budget.
Ray Dalio, billionaire investor and co-chairman of Bridgewater Associates, called on investors in a research note to prepare portfolios for the coming transition out of this decade's central bank-led reflationary environment into a future met with unsustainably large liabilities and rising social and geopolitical tensions. The note, titled Paradigm Shifts, is a summation of ideas Dalio has formed throughout his career studying markets, as well as a targeted focus this past year to study economic and market moves in major countries over the last 500 years.
Tuna Amobi, consumer cyclicals analyst at CFRA, discusses second-quarter results from Netflix Inc. as the streaming media company reported a decline in U.S. customers. He speaks with Blomberg's Vonnie Quinn on "Bloomberg Markets."
A 37-hour workday early in his career taught Larry Enterline what it takes to succeed. "These were not 9-to-5 jobs," said Enterline, now 66, who retired June 29 as CEO of Fox Factory Holdings. Witnessing the dedication and work ethic of those workers shaped Enterline.
U.S. President Donald Trump said on Thursday his administration was looking closely at Amazon.com's bid on a $10 billion cloud contract with the Defence Department after getting complaints from other tech companies. Amazon.com Inc and Microsoft Corp were selected in April to continue competing for the Pentagon cloud computing services that is part of a broad modernization of Pentagon information technology systems. The selection left Oracle Corp and IBM Corp out of the competition for the contract for the Defence Department's Joint Enterprise Defence Infrastructure Cloud, or JEDI.
A new study analyzed a plan for middle-income individuals nearing retirement who want to set up their plans so they can deliver constant payouts – in other words, "pensionize" it. The study, from the Stanford Center on Longevity, is based on the premise that delaying Social Security as long as possible will maximize the financial health of retirees as they live longer. Social Security is designed so that the longer you wait to begin collecting benefits, the more you get each month.
Ethan Harris, head of global economic research at Bank of America Merrill Lynch, discusses the importance of an independent Federal Reserve as markets anticipate a rate cut later this month. He speaks with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
Germany's Bayer AG welcomed on Friday a call by a U.S. judge to cut a $2 billion damages award to a Californian couple by a jury which found that its glyphosate-based weed killer had caused their cancer. The company had in June asked Judge Winifred Y. Smith, of California's Alameda County Superior Court, to overrule the jury verdict that its Roundup weed killer caused Alva and Alberta Pilliod's non-Hodgkin's Lymphoma (NHL), arguing it was not supported by the evidence. Judge Smith, in a 15-page opinion, said the punitive damages that make up most of the award should be reduced.
The key to investing success is consistency with a diversified portfolio. Sufficient diversification can be achieved in as few as one or two funds. The reason for diversification is simple: When you invest in a wide swath of investments across various sectors, your total investment returns will be steadier, as one asset class drops, the others will shore up returns.
Netflix (NFLX) shares took a dive after the company released its second quarter earnings report. The streaming service reported that it added just 2.7 million paid subscribers worldwide during the period, missing analysts' expectations calling for 4.8 million subscribers. “Netflix has a history of beating big and missing big,” said BTIG Managing Director Richard Greenfield.
The House voted overwhelmingly to repeal a tax Wednesday intended to fund the Affordable Care Act, preserving tax breaks for employer-sponsored insurance plans favored by large corporations. In a reversal of the usual partisan roles, Democrats rather than Republicans led the charge to kill a key part of Obamacare. The bill to repeal the levy commonly known as the “Cadillac tax” passed 419-6 with bipartisan support.
Elizabeth Warren wants to force private equity executives to eat their own cooking. Predictably, they aren't thrilled. The Democratic senator and candidate for president issued a proposal this week that would link the profits at private equity firms to the success -- or failure -- of the companies they buy and sell.
SAO PAULO/RIO DE JANEIRO (Reuters) - Two Iranian vessels have been stranded for weeks at Brazilian ports, unable to head back to Iran due to lack of fuel, which state-run oil firm Petrobras refuses to sell them due to sanctions imposed by the United States. The vessels Bavand and Termeh came to Brazil a couple months ago carrying urea, a petrochemical product used as fertiliser. Food is not covered by U.S. sanctions, and Iran is one of the largest buyers of Brazil's agricultural commodities, importing more than 2.5 million tonnes of Brazilian corn so far this year — more than any other country.
Abigail Disney, the heir to the Disney fortune, has been speaking out lately against income inequality, and today the Walt Disney Co. clapped back. Paid To Smile Abigail Disney recently visited the Disneyland theme park in Anaheim, California to observe the working conditions of employees. The company also pointed out that it pays employees an average of $19.50 an hour, more than double the federal minimum wage, and that it also committed $150 million to its Disney Aspire program that pays for workers to earn a college, high school or vocational degree.
Adam Neumann, the co-founder and chief executive of the international real estate co-working startup WeWork has reportedly cashed out of more than $700 million from his company ahead of its initial public offering. The size and timing of the payouts, made through a mix of stock sales and loans secured by his equity in the company, is unusual, considering that founders typically wait until after a company holds its public offering to liquidate their holdings. Despite the loans and sales of stock, first reported by The Wall Street Journal, Neumann remains the single largest shareholder in the company.
The Boeing Co. is looking at south metro Atlanta for a warehouse and distribution center that could approach 1 million square feet — the latest mega project for the region's booming logistics sector. The aerospace giant (NYSE: BA) is working with third-party logistics provider XPO Logistics Inc. (NYSE: XPO), which has been touring south metro industrial properties this year and may be focused on Clayton and Henry counties. Industrial real estate developers with projects along the Interstate 75 corridor south of Atlanta have competed for the Boeing facility, which could range from 800,000 square feet initially to eventually more than 1 million square feet. Developers have seen a request for proposals for the project, according to real estate sources familiar with the process.
I don't know if that company is ever going to recover,” Keith Fitz-Gerald, chief investment strategist at Money Map Press, said on Yahoo Finance's “The First Trade. Cloud contest One of those pivots is the cloud, which allows individuals and corporations to store massive amounts of data without the need to buy and maintain their own systems. Amazon Web Services has the true first-mover advantage when it comes to the fast growing cloud computing business.
Stay in Shape Keeping active as you age not only helps your physical health but your mental well-being as well. A Merrill Lynch survey of retirees found that good health was the most important component of a happy retirement. Whether it's going on brisk walks or taking a tai chi class, it's vital to make exercise part of your routine.
Microsoft's (MSFT) stock popped 2% on Friday following another much better-than-expected quarter. For the fiscal fourth quarter, Microsoft's adjusted earnings came in at $1.37 a share versus estimates for $1.21 a share. The tech giant impressed Wall Street thoroughly, which has become the norm under the leadership of CEO Satya Nadella.