DA Davidson analyst Christopher Brendler upgraded Affirm Holdings Inc. shares to Buy from Neutral with a price target of $75, down from $110, suggesting an upside of 29 percent. The analyst contends that the selloff in the stock is “overdone.” Brendler is bullish heading into the company’s results, with industry data suggesting that the U.S. buy-now-pay-later usage has more…
Analysts Lift ServiceNow Price Target After Q4 Results
Analysts mostly hailed ServiceNow Inc.’s Q4 results by raising their price targets. Piper Sandler analyst Rob Owens upgraded ServiceNow to Overweight from Neutral with an unchanged price target of $650 (20 percent upside). Subscription billings acceleration and considerable deal strength “punctuated a solid 4Q result” from the company. The analyst says that with digital transformation initiatives sustaining and IT spending outlook…
Robinhood Says It Is in ‘Strong Position’ to Face Unlikely Market Events
Robinhood Markets Inc. on Tuesday highlighted steps it has taken to avoid imposing trading restrictions and said it was in a “strong position” to support customers through unlikely market events, in a blog post published almost one year after a social-media-fueled rally that rattled markets. The online trading platform, which helped pioneer commission-free trading, and…
Wondering How to Trade in a Bear Market? Here Are 4 Easy Tips
The SPDR S&P 500 ETF Trust briefly dipped into correction territory on Friday, falling 10 percent from its January highs. A 10 percent correction means the S&P 500 is halfway to a bear market, so if the recent market weakness continues in February traders will need to be prepared. Here are four tips for traders…
2022 is Risk Off and May be the Wake of a November Market Top
Commentary It’s always risky to one’s reputation to call a market top, but given recent developments, I will step up to take the seat of Dionysius and be under Damocles’ sword. In my view, if we are not at a market top, we are at least most certainly in a “risk off” environment. Since its…
Mexico Says US Energy Secretary to Visit, Power Market Concerns Eyed
MEXICO CITY—U.S. Energy Secretary Jennifer Granholm will travel to Mexico this week for talks, with the government’s planned overhaul of the Mexican electricity market potentially on the agenda, President Andres Manuel Lopez Obrador said on Monday. The United States has voiced concerns about an initiative championed by Lopez Obrador which aims to strengthen state control…
Ford Crosses $100 Billion in Market Value for the First Time
Ford Motor Co.’s market value breached $100 billion for the first time on Thursday, as more investors bet on the Detroit automaker’s electrification strategy. The company’s shares, which have more than doubled in value last year, were up 3.7 percent in afternoon trade after hitting a more than two-decade high earlier. Ford is now worth…
Private Equity Firm TPG Valued at Over $10 Billion in Strong Market Debut
TPG shares rose nearly 12 percent in their stock market debut on Thursday, valuing the 30-year-old private equity giant at more than $10 billion, after the company went public to cash in on a pandemic-driven boost to the buyout industry’s profits. TPG will be looking at expanding its franchise into other areas such as credit…
Apple Becomes First Company to Hit $3 Trillion Market Value, Then Slips
Apple Inc. on Monday became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality. On the first day of trading in…
China Will Step up Foreign Exchange Market Monitoring in 2022: Regulator
Hong Kong—China will strengthen foreign exchange market monitoring and step up risk prevention and control in 2022, the country’s FX regulator said in a statement on Monday. In 2022, China will also promote cross-border investment of private equity investment funds, the State Administration of Foreign Exchange said in the statement. By Meg Shen
US News
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