Rushing to buy Chinese electric car stocks after an earnings miss, are investors making a big mistake?
Shares of Israeli container shipping company ZIM Integrated Shipping Services (NYSE: ZIM) tumbled 3.4% through 11:05 a.m. EST Monday -- and it's no huge secret why. Across the shipping world, stocks including ZIM, Costamere, and Danaos Corporation are all sliding today. As multiple media outlets have reported, protests against a government "zero-Covid" policy are spreading across China, threatening both the ruling regime's stability, the country's economy, and its ability to produce products that would need container shipping services to reach foreign markets.
Investors may be reacting to positive short-term news, but a longer-term development also provided them with a boost of confidence.
The richest man in the world runs five companies. And he never hesitates to let the world know what he thinks.
While there was some company-specific news, it appears the broader economic and regulatory developments ultimately drove the stocks higher. Today marked the second day of gains after Chinese officials responded to widespread demonstrations in China to protest lockdowns resulting from the government's zero-COVID policy. In a press conference on Tuesday, government health authorities announced steps to increase the vaccination rate among China's elderly population.
Shares of Horizon Therapeutics (NASDAQ: HZNP) were skyrocketing 27.2% higher as of 10:48 a.m. ET on Wednesday. The big jump came after the company announced Thursday evening that it's in discussions with Amgen (NASDAQ: AMGN), Johnson & Johnson (NYSE: JNJ) subsidiary Janssen, and Sanofi (NASDAQ: SNY) about potentially being acquired. There were two words in Horizon's press release that investors should note: "highly preliminary."
China has enrolled tech giants Alibaba Group Holding Limited (NYSE: BABA) and Tencent Holding Ltd (OTC: TCEHY) to aid its efforts in designing semiconductor chips to reduce its dependence on Softbank Group Corp (OTC: SFTBF) (OTC: SFTBY)-owned Arm. Arm, headquartered in the U.K. but has significant operations in the U.S., is seen as vulnerable to any ramping-up of U.S. sanctions, Financial Times reported. The Chinese government has established a consortium of companies and institute Beijing Open
Units of Knot Offshore Partners (NYSE: KNOP) had sunk by more than 18% by 10:30 a.m. ET on Wednesday. Weighing on the master limited partnership (MLP) was an oversupply of shuttle tankers in the North Sea. Knot Offshore Partners issued its third-quarter report, and CEO Gary Chapman said in the accompanying release that its financial results, liquidity, and distributable cash flow "reflect our heavy scheduled drydocking program."
Sorrento Therapeutics Inc (NASDAQ: SRNE) released topline Phase 2 SAD/MAD study data of its oral main protease (Mpro) inhibitor, STI-1558, conducted in 58 healthy volunteers in Australia. The SAD portion of the study evaluated doses from 300 mg to 2,000 mg, and the MAD portion evaluated 300 mg, 600 mg, or 800 mg BID (twice daily) for 7.5 days. In addition to the Mpro inhibition, which can block viral replication, STI-1558 has cathepsin L inhibition, preventing viral entry into the host cell. Rel
Yahoo Finance Live anchors discuss third-quarter earnings for CrowdStrike.
Yahoo Finance Live anchors discuss the rise in stock for Xpeng following the companies quarterly earnings.
The Dow Jones Industrial Average fell Wednesday ahead of Fed Chair Jerome Powell's speech. CrowdStrike stock plunged 20% on earnings.
If you set aside analyst expectations, CrowdStrike (NASDAQ: CRWD) is doing just fine. CrowdStrike's customer count expanded by 44% year over year, and 60% of customers are now using at least five of the company's modules. The company did note that sales cycles are getting longer with smaller customers, and that some larger customers are tweaking subscription start dates in ways that push back revenue recognition.
The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," Fed Chair Jerome Powell said on Wednesday, while cautioning the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long. But, in a speech emphasizing the work left to be done in controlling inflation, Powell said that issue was "far less significant than the questions of how much further we will need to raise rates to control inflation, and the length of time it will be necessary to hold policy at a restrictive level." While the Fed chief did not indicate his estimated "terminal rate," Powell said it is likely to be "somewhat higher" than the 4.6% indicated by policymakers in their September projections.
Americans trying to save some cash for unforeseen expenses are up against a lot — months of red-hot inflation, wages that don’t keep up, the sheer difficulty of delayed gratification in a time when people spend billions of dollars online in one day. “It won’t happen, it has never happened and unless employers start to help employees do that, we’re heading, really, down hill very fast,” she said. The savings rate has not been helped by the end of pandemic-era government benefits.
The WHO updates Emergency Use Listing (EUL) for Novavax's (NVAX) COVID-19 vaccine to include its use as a primary series in adolescents and for use as a booster dose in adults.
Aeglea BioTherapeutics Inc (NASDAQ: AGLE) has appointed Jeffrey M. Goldberg as president, chief executive officer, and a board member, effective November 29, 2022. Jim Kastenmayer will step down as interim chief executive officer and retain his position as Aeglea's general counsel. Following the leadership transition and as part of the related evaluation of near-term corporate and clinical development strategy, Aeglea no longer plans to announce interim clinical data from the ongoing Phase 1/2 t
Cathie Wood and Warren Buffett have extremely different approaches when it comes to investing. While Wood tends to invest in high-flying growth stocks, Buffett is usually seen as a value investor who also loves companies that return capital to shareholders. Buffett has said in the past that he wouldn't buy all of the Bitcoin in the world for $25.
"I truly do not believe this will be a disruptive force in any major way," a local college president said. "They have left a good legacy as they depart – and it’s not like they’re leaving tomorrow."
Fed Chair Jerome Powell set the table for a slowdown in the Fed's recent pace of rate hikes during a highly-anticipated speech on Wednesday.