Commodity Channel Index
|Bid||118.00 x 900|
|Ask||121.00 x 900|
|Day's Range||115.33 - 120.25|
|52 Week Range||71.66 - 120.73|
|Beta (5Y Monthly)||0.66|
|PE Ratio (TTM)||38.00|
|Earnings Date||Jul 22, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||1.96 (1.66%)|
|Ex-Dividend Date||Jun 11, 2020|
|1y Target Est||114.41|
China's online grocery firm Dada Nexus Ltd is looking to increase the size of its U.S. initial public offering (IPO) by more than a quarter, people familiar with the matter said on Thursday, as investors brushed off concerns about the auditing standards of Chinese companies pursuing U.S. listings. Dada's stock market debut, due on Friday, is the latest U.S. IPO by a Chinese company to come after the COVID-19 pandemic rattled the stock market and further soured already tense relations between Washington and Beijing.
U.S. Secretary of State Mike Pompeo on Thursday warned American investors against fraudulent accounting practices at China-based companies and said the Nasdaq's recent decision to tighten listing rules for such players should be "a model" for all other exchanges around the world. It also adds to the growing list of flashpoints for two countries already at odds over issues such as trade, COVID-19 and Hong Kong. President Donald Trump issued a memorandum on Thursday calling for recommendations to be issued within 60 days to protect U.S. investors from what he said was China's failure to allow audits of U.S.-listed Chinese companies.
Regulators need to address transparency and accounting issues at companies based in foreign jurisdictions that are looking to go public through the U.S. markets, Nasdaq Inc Chief Executive Adena Friedman said on Thursday. Nasdaq recently proposed new restrictions on initial public offerings, which if approved by the U.S. Securities and Exchange Commission (SEC), would make it harder for some Chinese companies to debut on the Nasdaq. The new rules, which include greater scrutiny of the audit firms of overseas companies it lists, will help Nasdaq ensure those firms meet its standards, Friedman said at an industry conference held by Piper Sandler.
Nasdaq (NDAQ) announced today that its investment arm, Nasdaq Ventures, has taken a minority stake in the UK-based financial crime investigation automation company Caspian. In addition, Nasdaq’s Market Technology business has forged a partnership with Caspian to support the growth of the business within the Financial Crime business verticals.
Nasdaq's (NDAQ) May volumes reflect higher volumes of U.S. equity and European equity but lower European options and futures.
NEW YORK, June 01, 2020 -- The Nasdaq Stock Market announced today that it will delist the ordinary shares and warrant of Akazoo S.A. Akazoo S.A.’s ordinary shares and warrant.
NEW YORK, June 01, 2020 -- Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for May 2020, on its investor relations website. A data sheet showing the monthly volumes and.
Nasdaq Inc said it postponed Monday's planned reopening of its PHLX options trading floor in Philadelphia, which had been closed because of the coronavirus pandemic, due to the demonstrations over the death of a black man, George Floyd, in police custody. "As the current situation with demonstrations in the city of Philadelphia has escalated significantly, Nasdaq has decided to postpone the reopening of the PHLX Trading Floor, which was scheduled for Monday, June 1, 2020," the exchange operator said in an alert to traders. Nasdaq said it would revisit the decision on a daily basis.
World stocks hovered near three-month highs and the dollar was flat on Monday as optimism over economies opening up again boosted risk appetite, despite worries over mass protests in the United States and unease over Washington's standoff with Beijing. Investors were also relieved that President Donald Trump left a trade deal with China intact despite moving to end Washington's special treatment for Hong Kong in retaliation for Beijing seeking to impose new security legislation on the city. China has asked state-owned firms to halt purchases of soybeans and pork from the United States, two people familiar with the matter said, following Washington's move over Hong Kong.
Nasdaq Inc said it postponed Monday's planned reopening of its PHLX options trading floor in Philadelphia, which had been closed because of the coronavirus pandemic, due to the demonstrations over the death of a black man, George Floyd, in police custody. "As the current situation with demonstrations in the city of Philadelphia has escalated significantly, Nasdaq has decided to postpone the reopening of the PHLX Trading Floor, which was scheduled for Monday, June 1, 2020," the exchange operator said in an alert to traders.
NEW YORK, May 27, 2020 -- The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading in CNS Pharmaceuticals Inc. (Nasdaq: CNSP) is scheduled to resume on Thursday, May 28,.
NEW YORK, May 27, 2020 -- The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading in Moleculin Biotech, Inc. (Nasdaq: MBRX) is scheduled to resume on Thursday, May 28,.
NEW YORK, May 27, 2020 -- At the end of the settlement date of May 15, 2020, short interest in 2,423 Nasdaq Global MarketSM securities totaled 7,989,729,389 shares compared.
ZoomInfo Technologies Inc expects to raise up to $801 million in its U.S. initial public offering (IPO), as the market for new issues rebounds after the COVID-19 pandemic put several debuts on hold for a couple of months. ZoomInfo follows Warner Music Group, which said on Tuesday it was aiming to sell up to $1.82 billion in stock in its U.S. IPO, potentially the largest New York listing so far in 2020.
Aphria (NYSE: APHA) will no longer be traded through that most classic of American financial institutions, the New York Stock Exchange (NYSE). On Tuesday, the company announced that its shares will move to the Nasdaq (NASDAQ: NDAQ), beginning at market open on Monday, June 8. The stock will retain its current ticker symbol of APHA.
Chinese delivery firm Dada Nexus Ltd will launch the investor roadshow for its U.S. initial public offering as early as Wednesday, according to people familiar with the matter, braving tensions between Washington and Beijing over Chinese companies pursuing their stock market debut in New York. The U.S. Senate passed legislation last week that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations. Shanghai-based Dada is backed by Chinese e-commerce firm JD.com and U.S. retail giant Walmart Inc.
Nasdaq Stock Exchange President Nelson Griggs joins Yahoo Finance’s Akiko Fujita to discuss NYSE trading floor reopening and the economic outlook as the Senate passes a bill that could force Chinese companies to delist from U.S. stock exchange.
NEW YORK, May 26, 2020 -- Who:Nasdaq CEO Adena Friedman What:Bernstein’s 36th Annual Strategic Decisions ConferenceWhen:Thursday, May 28, 2020 10:00 AM ET What:Piper.
(Bloomberg) -- Nasdaq Inc. sees improving prospects for initial public offerings if stock markets hold up before the U.S. presidential election in November.“We are starting to see new deals pop up,” Nelson Griggs, president of the Nasdaq Stock Exchange, said Tuesday in an interview on Bloomberg Television. “If the markets do hold -- which again today, we’re seeing some impressive performance -- there is a chance we’ll have a healthy IPO market that’s multisector.”The exchange has hosted 15 IPOs since mid-March, mainly for health-care and biotech companies, and issuers in other industries are starting to hold roadshows. Warner Music Group Corp. this week set the terms for an IPO that would raise as much as $1.8 billion, and some companies that put their plans on hold in March are starting to re-emerge, Griggs said.“The biggest challenge for an IPO is, can they go out and do a roadshow and talk confidently about upcoming quarters?” he said. “That’s not as important for health-care or biotech companies, so we have seen those go out and do very well.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Senate legislation builds in a three-year grace period, meaning New York will remain home to Chinese companies’ listings for some time.
(Bloomberg) -- Political momentum intensified this week to curtail investments in Chinese companies, in the latest sign that tensions between the world’s two largest economies have reignited.While a push for tougher scrutiny of financial ties between the U.S. and China has long simmered in Washington, the Senate quickly -- and in bipartisan fashion -- moved Wednesday to advance legislation that could result in delisting some securities from American stock exchanges.The added urgency stems in part from mounting calls for lawmakers and President Donald Trump to punish China for its alleged failure to disclose information early on about the spread of the COVID-19 virus. The pandemic has cost more than 90,000 American lives and resulted in tens of millions in job losses.The economic hit has curbed Trump’s ability to pressure China through tariffs, which can increase costs for American businesses and consumers. That has turned attention to other points of contention, like investment transparency. Earlier this month, the Trump administration and lawmakers stopped the Federal Retirement Thrift Investment Board, which oversees a retirement savings plan for government workers, from moving to a benchmark index for its international fund that includes Chinese stocks.Investor ProtectionU.S. stocks dropped for a second straight day as relations between the U.S. and China -- which had improved with an initial trade deal earlier this year -- appeared to deteriorate with news of the legislation and as strains flared again over Hong Kong. The Dow Jones Industrial Average index is little changed from the level it reached at the end of April.Proponents of stricter rules on Chinese stocks argue that it’s in the interest of national security and investors.“The level of fraud, the lack of transparency, the failure for investor protections, that has to be changed,” White House economic adviser Larry Kudlow said Thursday during an event hosted by the Washington Post.The Senate legislation would require companies including Alibaba Group Holding Ltd. and Baidu Inc. to certify they’re not controlled by a foreign government. The firms would have to do so because Chinese firms block Washington-based regulators from inspecting financial audits.The bill says that if the U.S. Public Company Accounting Oversight Board can’t review the companies’ audits for three straight years, their securities would be banned from trading on the New York Stock Exchange, Nasdaq or elsewhere in America.A companion bill has been introduced in the House and Speaker Nancy Pelosi said Thursday that the appropriate committees will review it, but she stopped short of promising a vote.Goldman AnalysisWall Street immediately took note of the heightened attention from Congress. Analysts at Goldman Sachs Group Inc. sent a report to clients Thursday that suggested a forced de-listing could lead to abrupt price actions. Chinese companies traded in the U.S. have a market cap in excess of a trillion dollars and about $8 billion of those stocks change hands every day on average, according to the analysis.Their research examined the Congressional proposal and its potential impact, saying that the focus of U.S. regulators and legislators on this issue has recently been elevated after some recent cases of alleged accounting irregularities.For some, the need for action was exemplified by China-based Luckin Coffee Inc., a coffee chain embroiled in an accounting scandal. The company recently announced the Nasdaq stock exchange’s intention to de-list the company in a statement.“Had this legislation already been signed into law, U.S. investors in Luckin Coffee likely would have avoided billions of dollars in losses,” Democratic Representative Brad Sherman of California, who introduced the House bill, said in a statement.Three YearsStill, the reality is nothing will change overnight, or likely anytime soon.Even if the Senate bill were to become law, any eventual de-listing of Chinese firms would be years away -- potentially long after Trump and many current lawmakers have already left office.Roger Robinson, president and CEO of RWR Advisory, a research and risk management consultancy, said the bill is a “remarkable bipartisan repudiation of the preferential treatment accorded to Chinese companies in our capital markets.”“Three years, however, is far too long before decisive action is taken against non-compliant companies,” said Robinson, who’s long pushed for stricter enforcement of U.S. auditing rules.SEC RulesThe bill would also require the SEC to write a regulation, invoking the agency’s lengthy rule-making process. Finalizing an SEC rule requires at least two rounds of votes by a bipartisan commission, as well as a series procedural steps like public notice and comment. Trump’s sway over the process is also limited because of the SEC’s status as an independent agency.So far, SEC Chairman Jay Clayton has issued a series of public statements warning American investors about the accounting issues related to Chinese firms whose auditors refuse to open their books. The agency has also announced a roundtable discussion on July 9 that will involve commentary from investors, industry and regulators on risks associated with investing in China and other emerging markets.Derek Scissors, China scholar at the conservative American Enterprise Institute, said he doesn’t believe any Chinese firm will either disclose properly or be de-listed as a result of the bill.“We’ll start another round of negotiations in 2021, no matter who’s president, and announce another agreement in which they falsely promise to disclose and we agree to keep them listed,” he said.Stock ExchangesExchanges including the New York Stock Exchange and Nasdaq have previously pushed back against the idea of delisting. But they’ve come under increasing government pressure amid the growing fervor for action against Chinese companies. Spokesmen for the NYSE and Nasdaq declined to comment.“We do have some very specific issues with the way that disclosures are provided from certain emerging markets, including China,” Nasdaq Inc. Chief Executive Officer Adena Friedman said this month in a Bloomberg Television interview.While the issue has only recently become a political focus for China hawks in the White House, for regulators the problem dates back almost two decades. The inspections by the little-known PCAOB, which Congress established in 2002 in response to the massive Enron Corp. accounting scandal, are meant to prevent fraud and wrongdoing that could wipe out shareholders.(Adds stock-market moves in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Burning Rock Biotech on Friday filed for a U.S. initial public offering (IPO), making it the latest Chinese firm to opt for an American listing amid tighter rules by lawmakers. In a filing, the company said it intends to list its American Depository Shares on Nasdaq under the symbol 'BNR'. China's Luckin Coffee Inc said on Tuesday Nasdaq had notified the company of plans to delist it from the exchange, a month after it disclosed that some employees had fabricated sales accounts.