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As Meme Stock Mania Fizzles, Wall Street Sees ‘Big Reckoning’

The day-trading Reddit crowd turned the first quarter of 2021 into one of the wildest periods of stock market mania in modern history. Books — plural — will undoubtedly be dedicated to the topic in years to come.

But after these small-time speculators banded together to drive up dozens of obscure stocks by hundreds or even thousands of percent — and in the process burned a few hedge-fund barons betting on declines — the movement appears to be petering out. An index that tracks 37 of the most popular meme stocks — 37 of the 50 that Robinhood Markets banned

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Wall Street beware: the SEC’s Gensler carries a big stick

The last time Gary Gensler ran an American financial regulator, he was charged with cleaning up the mess left by the 2008 crash. Now the new chair of the US Securities and Exchange Commission faces a rather different task: policing volatile and frothy markets that may be hiding all kinds of misbehaviour.

Frenzied dealmaking and trading, cheap financing and hybrid working have created a perfect storm of opportunities for fraudsters. The pressure is on Gensler and his enforcement chief Alex Oh to clamp down and deflate any bubbles before they burst.

They take over an SEC that is struggling with

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Big Tech’s surging growth stuns Wall Street

After the world’s largest tech companies enjoyed a boom during the coronavirus pandemic, the expectation was that life would gradually return to normal.

It certainly is not turning out that way.

Big Tech this week reported a surge in growth and profits that stunned Wall Street, delivering powerful evidence that the digital dependence forced on a large part of the world’s population over the past year could have an enduring effect.

The outsized figures amount to a reset in the business world, some tech investors and analysts said. According to this view, the leading digital powers have consolidated their gains

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Pinterest Tanks Despite a Strong Quarter. What Wall Street Is Saying.

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Pinterest’s outlook for second-quarter growth was below Wall Street’s expectations.


Gabby Jones/Bloomberg


Pinterest

stock shed much of its 2021 gains Wednesday after the social media firm reported first-quarter results the evening before. Though the company’s earnings and revenue figures beat expectations, Wall Street honed in on disappointing user growth.

Shares of

Pinterest

(ticker: PINS) were down 13% to $67.49 in mid-day trading, while the S&P 500 index was flat. The drop cut the stock’s year-to-date gains to 2.5% and one-year gains to 223%.

Citi Research analyst
Jason Bazinet
noted that the company’s adjusted earnings and revenues were all

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Inside the Fight for the Future of The Wall Street Journal

In July, Mr. Murray received a draft from Ms. Story’s team, a 209-page blueprint on how The Journal should remake itself called The Content Review. It noted that “in the past five years, we have had six quarters where we lost more subscribers than we gained,” and said addressing its slow-growing audience called for significant changes in everything from the paper’s social media strategy to the subjects it deemed newsworthy.

The report argued that the paper should attract new readers — specifically, women, people of color and younger professionals — by focusing more on topics such as climate change and

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Analysts see gains in store for stocks like Coinbase & Netflix

A sign is posted in front of the NVIDIA headquarters on May 10, 2018 in Santa Clara, California.

Justin Sullivan/Getty Images

With COVID-19 cases surging again around the world as well as growing concerns about the economic reopening, navigating the current financial landscape can be challenging.

In this case, the key is to look for stocks that not only appear undervalued but are also poised for gains going forward.

The names mentioned below fit the bill and have the backing of analysts with impressive stock picking abilities. TipRanks’ analyst forecasting service identifies the best-performing Wall Street analysts, or the analysts

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UBS, Deutsche Bank to Show If Europe Banks Matched Wall Street

European lenders are about to show investors if they can ride the pandemic-induced wave of investment banking revenue that propelled U.S. peers to a record quarter.

While Credit Suisse Group AG kicked off Europe’s bank earnings season on Thursday, its gains in trading and advising on deals were a sideshow given blow-ups related to Greensill Capital and Archegos Capital Management. This week, four of the biggest securities firms are up.

The focus will be on Deutsche Bank AG’s ongoing efforts to regain market share in debt trading, UBS Group AG’s performance in wealth management and Barclays Plc’s ability to bolster

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WWE body slams Wall Street’s forecasts

World Wrestling Entertainment Inc. easily beat Wall Street forecasts for first-quarter adjusted profit. 
 

WWE, as the media and entertainment company focused on wrestling is called, also reported net income of $43.8 million for the period, up from $26.2 million. 

Earnings were up to 51 cents from 31 cents on a per-share basis. Profit following adjustments also amounted to 51 cents a share. 

Ticker Security Last Change Change %
WWE WORLD WRESTLING ENTERTAINMENT, INC. 54.23 -1.99 -3.54%

CLICK HERE TO READ MORE ON FOX BUSINESS
 

Revenue fell to $263.5 million from $291 million. The company

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3 Hypergrowth Stocks With 44% to 80% Upside, According to Wall Street

Over the long run, there’s arguably no greater wealth creator on the planet than the stock market. For the past 41 years, through the dot-com bubble, Great Recession, and now, coronavirus crash, the broad-based S&P 500 has averaged an annual total return, including dividends, of more than 10%. Put another way, investors in S&P 500 tracking indexes are doubling their money about every seven years, inclusive of reinvestment.

It doesn’t matter whether the market is in the midst of a sell-off or is hitting new all-time highs. There are always bargains to be found, at least according to Wall Street.

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Wall Street Opens Mixed on Partial Rebound from Tax Shock; Dow Down 50 Pts

By Geoffrey Smith 

Investing.com — U.S. stock markets opened mixed on Friday, regaining some composure after its heaviest fall in weeks in response to reports of a looming hike in capital gains taxes.

A report by Bloomberg indicated that President Joe Biden is planning to raise the marginal rate of capital gains tax to around 40% from a base rate of 20% currently, aiming to raise revenue for a swatch of social spending projects.

The rise would reverse a major element of President Donald Trump’s tax cuts in 2017 and creates an obvious incentive for stock investors to realize gains

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