948 days ago
Chinese tech stocks resurgence?
Whatever this is, the Chinese tech sector is now looking like a bargain which will surely continue attracting more investors. Source: Bloomberg
948 days ago
As 'defensive' stocks rise, the stock market becomes more cautious
Utilities and healthcare are among the best-performing sectors in the S&P 500 this quarter, with gains of 7.8% and 6.6%, respectively, compared to the broad stock index's 4.9% advance. Investors often flock into those types of companies when the outlook is expected to worsen, so the gains are notable. In the face of renewed Covid-19 outbreaks, Goldman Sachs dropped its third-quarter U.S. economic prediction to 5.5% from 9% earlier this month. Source: The Wall Street Journal
952 days ago
Amazon share price to QQQ spread is growing: AMZN underperforming?
Who does not love some Amazon ? Well the spread between Amazon and QQQ has been blowing up. Amazon's stock has lagged the broader market by the highest degree in its existence. In the past three weeks, it has set ten six-month lows relative to the S&P 500. Source: TME
953 days ago
US companies are rushing to cash in on soaring stock prices
Companies are returning to the public markets to issue shares and raise cash from investors at the same time that existing shareholders are tapping the public market to unload their stockholdings at a record clip. This list includes meme stocks AMC entertainment and GameStop. GameStop and AMC have each advanced more than 10-fold year to date, including double-digit-percentage gains Tuesday as the meme stocks came roaring back. Source: WSJ
953 days ago
Ricard rises after ruling boosts profits
Pernod Ricard shares opened higher on Wednesday after the French spirits group said it would book an additional $163 million in income before tax in its 2021 earnings. The world's second-biggest spirits group after Diageo said in a statement it could make a claim on spirits exported from the United States after a U.S. Appeals Court ruled in favour of the National Association of Manufacturers on tax refunding on exported goods. It said the ruling means it can book an additional profit before tax of $163 million of which $33 million is profit from recurring operations. That represents about 1% of organic growth, the company said. Pernod Ricard shares were up 1.02% in early session trading. Source: Yahoo Finance
