Stock Market News

Elliott Management Acquires $3.20bln Stake In AT&T

  The shares of AT&T Inc. (NYSE: T) soared $0.79 or 2.15% to close at $37.58 yesterday after activist investor Paul Singer’s Elliott Management took a $3.20 billion stake in the telecom company’s stock. It is the largest investment ever

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Alibaba Acquires Chinese e-commerce Firm Kaola for $2bln

  China’s e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) has announced that it is acquiring Kaola, a cross-border e-commerce business unit, from the Nasdaq-listed Chinese internet enterprise NetEase for roughly $2 billion. The acquisition would enable Alibaba to further

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RBC Analyst Forecasts 45% Upside for Amazon

  The shares of the e-commerce giant Amazon.com, Inc. (Nasdaq: AMZN) is forecast to appreciate by over 50% in the coming year, according to Mark Mahaney, an analyst at RBC. Specifically, in his research note to clients, Mahaney has stated

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Trump Criticizes GM Over its Mfg. Plants In China

  Once again, US President Donald Trump has condemned automaker General Motors for a decline in the US workforce and moving its automobile manufacturing to China even after receiving a federal bailout. Referring to a Bloomberg report, Trump pointed out

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JnJ Fined $572mln. in Oklahoma Opioid Crisis

  Johnson & Johnson (JNJ) was slapped with a fine of $572 million by an Oklahoma judge after finding the medical devices and pharmaceutical company responsible for fueling the opioid drug epidemic. It is the first decree in the US

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HP Posts Mixed Q3 Results, Lifts FY19 EPS View

  The stock of HP (NYSE: HPQ) lost 5.92% or $1.12 to close at $17.81 on Friday despite reporting impressive Q3 results. Notably, the company also upwardly revised its non-GAAP earnings outlook for fiscal 2019. The main reason for the

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GE Down Despite Clarification Given To Fraud Investigator

  The stock of General Electric Company (NYSE: GE) plunged last week after Harry Markopolos, a whistleblower known for bringing to light Bernie Madoff’s Ponzi Scheme, cautioned investors of accounting fraud “bigger than Enron and WorldCom combined.” In his 175-page

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NVIDIA Beats Q2 EPS Estimates, Issues Weak Q3 View

  The computer hardware manufacturer NVIDIA (NASDAQ: NVDA) posted higher earnings in fiscal 2020 second quarter, compared with the similar period last year. However, on a y-o-y basis, the company posted a decline in revenue, primarily due to the poor

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JD.com Rallies 13% On Swing To Q2 Profit

  Shares of JD.com Inc. (NYSE: JD), one of the world’s largest e-commerce platforms based on sales, jumped 12.89% or $31.50 to close at $30.66 after the company swung to profit in the second quarter of fiscal 2019. The company

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Uber Posts $5bln Loss In Q2, Misses EPS Estimates

  Ride-hailing service Uber Technologies, Inc. (NYSE: UBER) posted a massive loss of $5 billion in its fiscal 2019 second-quarter, with both revenue and earnings missing Wall Street forecasts. Notably, the company recorded a new milestone of 100 million “Monthly

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