20.40 0.00 (0.00%)
After hours: 7:27PM EST
|Bid||20.40 x 800|
|Ask||20.46 x 3000|
|Day's Range||19.90 - 20.52|
|52 Week Range||18.71 - 36.83|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 31, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||26.75|
36Kr Holdings became the latest company to take over the public markets amid volatility in the U.S. IPO market. Yahoo Finance’s Julie Hyman, Brian Cheung, and Scott Gamm is joined by 36Kr Founder and Co-Chairman Cheng-Cheng Liu on On The Move.
Pinterest shares fell below its IPO price for the first time after the company reported a miss on revenue and sales in its Q3 earnings report. Yahoo Finance's Dan Roberts, Heidi Chung and Kristin Myers discuss on YFi AM.
Even the best-performing new stock companies from the region have been hit by a reset that appears to be happening on Wall Street.
(Bloomberg) -- If Google is feeling pressure from the government scrutiny bearing down, the company isn’t showing it. Last Friday the search giant announced it was paying $2.1 billion to buy Fitbit, the struggling maker of fitness gadgets. The deal was Google’s second multi-billion dollar acquisition in the last several months, flying in the face of repeated critiques from public officials that large tech companies are stifling competition by buying startups. “By attempting this deal at this moment, Alphabet Inc.’s Google is signaling that it will continue to flex and expand its power in spite of this immense scrutiny,” David Cicilline, the Democratic congressman leading Congress’s investigation into antitrust issues in tech, said in a statement.People close to Google say the decision to move forward with the Fitbit acquisition bears the fingerprints of one of its key leaders: Kent Walker, Google’s chief legal officer. Company lawyers don’t inspire the same public fascination as young tech founders. But Walker has quietly become one of the most influential people within Google over the last four years. By extension, that makes him one of Silicon Valley’s most important players as the industry enters a moment of unprecedented political peril. Unlike Facebook Inc., which has spent much of the last year trying to explain its policies to a skeptical public, Google has kept its head down and conducted its business as usual. In September, when attorneys general from 48 states announced an antitrust investigation into the company, Walker’s department didn’t bother to send an email to staff explaining the situation. “You take it seriously, but don’t overreact,” said Matt Tanielian of the Franklin Square Group, a lobbying firm. “That's a sign of someone like Kent being in charge.” Walker's supporters see his leadership style as a welcome sign of corporate maturity. Other people see a company that hasn’t adjusted its approach to changing circumstances. For the first time in its history, Google has no shortage of political enemies, yet it seems unwilling to engage them, according to Gigi Sohn, a fellow at the Georgetown Law Institute for Technology Law & Policy. “They’re so used to winning that they don’t necessarily push forward with maximum effort,” she said. “There’s a lack of recognition that they’re not in another time. It’s not 10 years ago. It’s not five years ago. It’s not even two years ago.” Sohn, who has known Walker for years, refers to him as “a lawyer’s lawyer,” a common compliment for those who have worked with him. But Google, whose founders have receded from public view and whose CEO, Sundar Pichai, is unusually reserved for a Silicon Valley CEO, is lacking a charismatic champion at the top. It has a good attorney, when what it might really need is a good politician. Walker, 58, spent his childhood on a series of military bases, before attending Harvard University and Stanford Law School. He spent his early career as a federal prosecutor, and did stints at eBay Inc., Netscape Communications Corp., and AOL before joining Google in 2006. At first, Google’s small legal department was consumed with legal challenges over copyright and privacy. But several years into Walker’s tenure, the company began facing its first challenges with antitrust investigations. Walker’s background is not in antitrust law, and he didn’t oversee Google’s 2013 settlement with U.S. regulators over competition. But he has had ample opportunity to learn the subject. “Kent, frankly, really grew with the company,” said Shirley Tilghman, who served on Google's board from 2005 to 2018. Walker, who declined an interview request, has become a prominent figure within Silicon Valley’s insular circle of top lawyers. His protégés have gone on to lead the legal departments at Twitter Inc., Pinterest Inc., Dropbox Inc. and other Silicon Valley firms; many went into the Obama Administration. He’ also a typical Google executive in many ways. Several friends and former colleagues described him as an eager polymath, an obsessive, hands-on, manager—and a huge science fiction fan. Walker has a reputation of coming to conversations armed with data to back up his arguments, his friends said, and considers the word "thoughtful" to be the highest compliment. “He’s intellectually ambidextrous,” said Adam Kovacevich, who spent 12 years at Google's policy division. “He has always cautioned everyone to take Google’s critics seriously.” Walker’s purview expanded when Google created Alphabet to be its parent company in 2015. When it did so, the company’s co-founders and its longtime legal chief, David Drummond, stepped back from Google’s daily operations. Google’s head of policy, Rachel Whetstone, left for Uber the same year, and Walker took over her policy portfolio. Last summer, he became Google’s chief legal officer and head of global affairs, taking control of oversight of corporate policy, cyber-security and philanthropy. Now, nearly every contentious issue at Google eventually bubbles up to Walker—antitrust controversies in Europe, debates over digital data privacy and artificial intelligence ethics, what to do about China, confrontation with Google’s workforce over sexual harassment and contract workers. Walker also plays a key role in managing relationships with governments, a task normally associated with chief executives. Not every company entrusts its top lawyer with so much power. “For Google, it’s a huge, huge portfolio,” said Doug Melamed, the former general counsel at Intel Corp. “The fact that he has it is testament to the respect he commands with the board and other executives. There are signs of strain, however. Attrition among the legal and policy staff has been bad enough that one former Google official referred to Walker as “the only one left.” To run global affairs, Walker hired Caroline Atkinson, a former Obama official based in Washington, D.C., but she lasted less than two years. Walker spent another year searching for a replacement before hiring Karan Bhatia, a former Bush administration official, last June. This spring, Walker confided to his friend Melamed, the former tech lawyer, that he felt “spread a little thin.” Walker has also become a target in recent years for current and former employees who think Google has sacrificed its idealistic culture in favor of conventional commercialism. Former employees describe how the company’s legal and policy departments once engaged in robust debates over sensitive topics, but say the back-and-forth faded as Walker consolidated power. Meredith Whittaker, a former Google researcher who has become a prominent critic of the company, argued that this is particularly important because of the impact Google’s policies have outside the company. “He's put there to protect the company from liability, which also means protecting Google from being accountable to its workers and to the public,” she said. “In that way, he's doing all of us—those affected by Google's services and the workers there—a great disservice.” Trust between Google’s management and its restive workforce has deteriorated since the revelation that the company was working on Project Maven, a Pentagon program to use computer vision software to analyze drone imagery. Google said last year it would stop working on the project, setting off a round of recriminations in Washington. According to his critics, Walker has shown an inclination to stymie the kind of activism that led Google to back out of Maven. An all-staff memo from Walker, sent earlier this year, reminded employees that accessing certain “need to know” documents was a fireable offense, which some employees interpreted as an attempt to stifle activism. A Google representative said at the time this did not represent a new policy. In August, the company sent out new “community guidelines” to staff warning them not to spend time debating “non-work topics.” Several current employees complained that what they saw as Walker’s desire to tamp down political expressions was an attempt to mollify conservative critics who accuse Google of liberal bias. Walker’s obscurity may be undercutting his influence outside the company. Eric Schmidt, the company’s former chief executive officer and executive chairman, largely served as Google’s public face during his tenure. Schmidt left in 2017, and Sundar Pichai, his successor, cuts a lower profile. Walker now takes many of the high-level meetings that Schmidt did, but he does so without the cachet of being a chief executive. When Walker planned to testify last summer at a Congressional hearing on Russian election interference, the Senate demanded Google send Pichai instead. Google simply didn't show, and committee staff pointedly set out an empty chair where Pichai would have sat.A Democratic staffer in Congress, who asked to not to be identified discussing private matters, said Walker has been much more reluctant to communicate with lawmakers than his counterparts at other tech giants. “Say what you want about Facebook, at least they’re apologetic,” said Sohn. At Google, she continued, “they haven’t admitted to any error. That might be a mistake.” \--With assistance from Ben Brody and Alistair Barr.To contact the author of this story: Mark Bergen in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Joshua Brustein at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Perion Network's (PERI) third-quarter 2019 results reflect robust performance of Search and other segments despite weakness in advertising division.
Companies that went public this year and did well in terms of price performance did so on the back of solid financials, positive cash flows and growing revenues.
Pinterest, Inc. today announced that Todd Morgenfeld, Chief Financial Officer, will participate at the RBC Capital Markets Technology, Media and Telecommunications Conference on November 19, 2019 at 1:10 pm ET .
IAC CEO Joey Levin said a board committee continues to review a proposal to distribute the internet company’s 80.8% stock in Match to shareholders.
Pinterest delivered Q3 2019 earnings that left investors shocked. Why? It was not so much its poor results, but the mismatch between extremely high investor expectations with unimpressive growth prospects.
Current ratio is a popular way for investors to assess the health of a stock’s balance sheet. Current ratio is a measure of a company’s ability to pay its current liabilities and obligations due within ...
(Bloomberg) -- With companies like Uber Technologies, Inc., Slack Technologies Inc., and Pinterest Inc. going public this year, the question has been: How many millionaires will Silicon Valley mint? What’s not being asked is how much of that new wealth will go to women. The answer, according to a new study released Monday, is: not much. Carta, an equity management platform, crunched data from over 300,000 employees at more than 10,000 companies, and found four out of five paper millionaires are men.The jobs that land the biggest equity packages tend to be held by men in C-suite roles, said Emily Kramer, Carta’s vice president of marketing. “As wealth goes up, the percentage of millionaires who are women go down because they are not CEOs, CFOs or founders,” she said. Chief marketing officers, the most common executive role held by women, have the lowest median equity award, 39% less than that of CFOs, which tend to get the most generous packages after CEOs. Among the world’s 500 richest people, there are just two female technology billionaires, according to the Bloomberg Billionaires Index. MacKenzie Bezos, a major shareholder of Amazon.com Inc., is worth $36 billion and Zhou Qunfei, the founder of Lens Technology, is worth $5.9 billion. Sheryl Sandberg, the chief operating office of Facebook, who is not in the top 500, has a net worth of $2.1 billion.Carta last year for the first time identified an “equity gap,” finding women in Silicon Valley held 47 cents for every dollar of equity men did. Carta this year found a slight improvement: Women hold 49 cents for every dollar in stock options men do, a 2% increase from last year. Women make up more than a third of all employees, but only hold 20% of equity wealth, the study finds. While most equity ends up being worth nothing, when a startup goes public or gets acquired, stock grants can result in a big payday, creating the next class of angel investors and entrepreneurs. And even with underwhelming valuations from tech companies this year, underrepresented employees are getting the “short end of the stick” and become “collateral damage,” said Henry Ward, the chief executive of Carta.The gender equity gap exists for a variety of interconnected reasons. Early employees often get better stock options than those who join later, and younger companies tend to have smaller proportions of women. There’s also a lack of representation on founding teams. Women only make up 13% of all founders in the data pulled by Carta, and female-founded teams only got 2.2 percent of venture funding last year. Women also say they don’t know what to ask for during already opaque salary negotiations. One woman who worked for a unicorn startup, who asked not to be identified to avoid alienating her former employer, said she didn’t know to ask for refresh grants after getting promoted several times. When the company went public, she ended up getting $20,000 (before taxes); she calculates she could’ve been a millionaire.As WeWork prepared to go public, Trista Kempa, who says she was the 17th employee, said she wasn’t offered options at all. “I was 23, naive, and didn’t know what equity or options were—I certainly didn’t know how much it could impact my financial future,” she tweeted. WeWork did not immediately respond to request for comment. Carta offers educational materials that teach women how to negotiate their liquidity preferences and ask for fair equity offer up front. “It’s not a matter of getting in the door,” said Carta’s Kramer, who is also head of Table Stakes, an initiative highlighting the gender gap in equity at venture-backed companies. “It’s about advising employees on how to avoid a WeWork situation.” To contact the author of this story: Candy Cheng in San Francisco at firstname.lastname@example.orgTo contact the editor responsible for this story: Rebecca Greenfield at email@example.com, Mark MilianFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
U.S. stocks gained about 1% on Friday, as the S&P 500 and Nasdaq Composite kicked off the month of November with record highs. Energy and Industrial names led the way higher this week, while the Real Estate and Utility sectors lagged.Ideal Economic SituationBulls were encouraged by an upbeat October employment report on Friday. The U.S. economy added 128,000 non-farm payrolls in the month, which exceeded expectations. In addition, results from the August and September were both revised higher.Just 48 hours earlier, the initial reading of third-quarter GDP growth came in ahead of the consensus analyst estimate. Also on Wednesday, the FOMC voted to cut interest rates for the third consecutive meeting.Earnings Parade Marches OnAlmost lost in the sea of “Goldilocks” economic data is that we just ended the busiest week of the third-quarter earnings season. Apple (AAPL) and General Electric (GE) were the big earnings-related winners this week.On the other hand, Internet names like Etsy (ETSY), Grubhub (GRUB), Pinterest (PINS) and Wayfair (W), all experienced sizable declines, after disappointing investors with their profit outlooks.Of the 356 S&P 500 companies that have reported so far, 76% have exceeded earnings expectations. This is well above the historical average, although aggregate profit remains on track to decline fractionally in the third quarter.Knowing what and when to buy can be challenging for any investor. However, the fact remains that attractive investments are out there, if you’re willing to dig a little deeper.One such real estate name with a solid dividend and strong earnings momentum is worth a closer look and is our Stock of the Week below…Stock of the Week: VICI Properties (VICI)The company operates as a real estate investment trust (REIT), with over 22 entertainment properties, casinos and hotels, including Caesar’s Palace.The stock gained nearly 4% this week, as management delivered a better-than-expected quarterly profit this past Wednesday.Looking ahead, these gains should keep on coming. Here’s why:VICI earned $0.35 a share in the third quarter, as revenue fell 4% from the previous year, to $222.5 million. Management noted the upside was driven by higher leasing revenue in the period and boosted full-year profit guidance by 4%.The higher guidance was also influenced by the $843 million cash acquisition of the JACK Cleveland Casino and Thistledown Racino the company announced earlier in the week.VICI will lease the property back to JACK Entertainment for an initial term of 15 years, at an annual rent of $65.9 million. The deal is expected to close in early 2020 and be immediately accretive to the company’s earnings.Following the acquisition news and guidance boost, Deutsche Bank analyst Carlo Santarelli boosted his price target of the stock on Friday, citing:“We continue to like VICI's aggressive style and its ability to leverage relationships and expand its tenant base. Further, VICI has done a very nice job accessing the capital markets at opportune times to solidify their capital structure and promote accretion. We think the growth pipeline remains a competitive advantage. As such, we remain favorably inclined and we reaffirm our Buy rating. Our price target goes to $28 from $27.”In addition to its growth potential, VICI also rewards investors with steady income. Management pays a quarterly dividend of $0.2975 a share (4.85% yield) that it boosted back in September. The next payout will likely be declared in December.In the meantime, the company carries a Smart Score of 10/10 on TipRanks. This new proprietary metric utilizes Big Data to rank stocks based on 8 key factors that have historically been a precursor of future outperformance.On top of the positive aspects mentioned already, Smart Score says that VICI has seen insider buying, in addition to positive sentiment from hedge funds and financial bloggers. (See VICI stock analysis on TipRanks)This is just 1 of the 20+ stocks selected for the Smart Investor portfolio. That’s where we share more detailed insights on our weekly stock picks. You may also want to learn more about how we use TipRanks indicators to find stocks that are primed to outperform. (To discover the Smart Investor portfolio click here)
U.S. stocks jumped Friday after the October jobs report came in well above consensus expectations. Treasury yields climbed and gold prices fell, as investors piled into risk assets.
A better-than-expected jobs report thrust equities to new all-time highs once again, with the S&P 500 notching its fourth new high in five days. Let's take a look at a few top stock trades as the markets continue to roll higher. Top Stock Trades for Tomorrow No. 1: Alibaba (BABA)Alibaba (NYSE:BABA) is barely in positive territory following its earnings report, but the technical setup is not that appealing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsShares tried to break out over the $180 level, but failed to hold onto its gains. The silver lining here? BABA stock is still above short-term uptrend support (purple line), as well as its cluster of major moving averages between $171 and $173.A move below uptrend support would negate the breakout, while a decline below its moving averages would be a sign of caution. Below $170 and uptrend support (blue line) is in play near $165. * 7 Earnings Reports to Watch Next Week Over $180 and the breakout is back on the table, with the first upside target being Friday's post-earnings high, followed by the September high of $184.13. Top Stock Trades for Tomorrow No. 2: Pinterest (PINS)For most of our pre-earnings setups, we don't need to revisit them a day later. For Pinterest (NYSE:PINS), though, the stock's major decline is forcing us to take a second look.Shares were down more than 25% at one point, just below the $19 IPO price. With Friday's sharp rebound though, bulls have a tradable low to measure against. On the upside, see if PINS can rally back to its prior post-IPO low near $23. Above that and it can fill the gap up toward $25.Below Friday's low and PINS is a no touch. Top Stock Trades for Tomorrow No. 3: AbbVie (ABBV)AbbVie (NYSE:ABBV) stock has been on fire, and Friday's post-earnings rally is only adding fuel to that fire. The stock is nearing overbought territory on a weekly basis, and has long since cleared prior downtrend resistance (blue line).Let's see if the 100-week moving average gives ABBV any issues, up at $83.50. Over it and the 52-week highs near $90 are on the table. If the 100-week moving average is resistance, see if ABBV finds support either at the 50-week or 200-week moving average.The stock was recently called a breakout buy for 2019. Top Stock Trades for Tomorrow No. 4: Chevron (CVX)Despite bouncing around on the day, Chevron (NYSE:CVX) is near flat after reporting earnings. This one has become a bit of a sloppy setup.The upside is clogged by a cluster of moving averages between $118 and $120. On the downside, the February gap between $112 and $113 has generally been support For CVX stock this year.Let's keep it simple.A dip into this zone can be bought, provided it holds as support. If it fails, a flush down to the $105 to $107 area could be in the cards. A break over $120 could send CVX up to $124-plus. Top Stock Trades for Tomorrow No. 5: U.S. Steel (X)Want to stick with the keep-it-simple approach? U.S. Steel (NYSE:X) is jumping on Friday, but running into an important level.If it moves over the $13 to $13.25 level and the 100-day moving average, X stock can continue higher. It puts the 78.6% retracement at $14.60 in play, as well as the declining 200-day moving average.If it falls below $13, lower prices may be in store. Top Stock Trades for Tomorrow No. 6: Funko (FNKO)It has been a while since we've talked about Funko (NASDAQ:FNKO). $17 and channel support both gave way on Friday, leading to a flood of selling. Shares are now near $15.Below the 23.6% retracement and near its session low, there's little confidence in Funko right now.Friday's move technically puts the $12 area in play, although it may take a while to flush down to that point. From here, see if FNKO can reclaim $15.15, the 23.6% retracement. Above it puts the underside of prior channel support in play. Below $15 and shares can remain under pressure.Funko is also a no-touch for me at this moment.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long PINS. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Buy-and-Hold Stocks to Play Investing's Biggest Trends * 7 Stocks to Buy in November * 5 Strong Buy Stocks Under $5 With Massive Upside Potential The post 6 Top Stock Trades for Monday: BABA, PINS, CVX appeared first on InvestorPlace.
Image-sharing social media platform Pinterest Inc (NYSE: PINS ) disappointed the Street with its third-quarter report , but at least three analysts are defending the company. The Analysts DA Davidson analyst ...
U.S. stocks rose nearly 1% on Friday, taking comfort from October data that showed U.S. jobs growth slowed less than expected and China's factory activity expanded at its fastest pace in more than two years. The tech-heavy Nasdaq breached its record level for the first time since July, while the benchmark S&P 500 notched its fourth record high this week.
The major stock indexes were broadly higher after Friday's big jobs beat. Dow Jones stock Apple notched a record high.
Pinterest (PINS) stock fell 20% in extended trading on October 31 after the image-sharing company reported weak third-quarter earnings results.
Pinterest, which fills millions of inboxes with online pinboards of rustic home decor, wedding frocks and other hippy happy claptrap, listed on the New York Stock Exchange earlier this year. A resounding debut left it with a market value of $16bn on day one. It offers a kinder, gentler world, free of flashy influencers and the political rants that besmirch Twitter and Facebook.
SPDR Gold ETF (GLD) - Gold fell about $7 per ounce following a very strong jobs report. 128,000 jobs were added in the non-farm sector while the unemployment rate ticked higher to 3.6%. Economists had ...