U.S. stock index futures edged higher on Friday ahead of an inflation report that could likely strengthened the case for an aggressive policy tightening by the Federal Reserve, while Oracle Corp. jumped on an upbeat third-quarter outlook. Shares of the enterprise software maker gained 11.2 percent in premarket trading after posting forecast-beating results for the…
Futures Rise Ahead of CPI Data; Oracle Shines
December 10, 2021
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Oil Prices on Track for Biggest Weekly Gain Since August
December 10, 2021
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LONDON—Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course for gains of more than 7 percent this week, their first weekly gain…
Global Stocks Follow Wall Street Lower Before US Inflation Data
December 10, 2021
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BEIJING—Global stock markets declined Friday ahead of U.S. inflation data that might influence a Federal Reserve decision on when to roll back economic stimulus. London and Frankfurt opened lower. Shanghai, Tokyo, and Hong Kong retreated. Fed officials, due to meet next week, have said plans to wind down bond purchases and other stimulus that is…
Goldman Sachs Sees 21 Percent Upside in Jamf, Courtesy Apple
Goldman Sachs analyst Brian Essex assumed coverage of Jamf Holding Corp (JAMF) with a Buy rating and $38 price target, implying a 21 percent upside. The stock’s recent pullback presents a buying opportunity, Essex tells investors in a research note. The analyst says Jamf has established itself as a “leading Apple Inc (AAPL) native enterprise”…
JPMorgan Sees 41 Percent Upside in FuboTV, Remarking Attractive Entry Point
JPMorgan analyst Anna Lizzul initiated coverage of FuboTV Inc (FUBO) with an Overweight rating and a $28 price target, implying a 41.63 percent upside. FuboTV launched in 2015 and is a live TV streaming platform, providing subscribers access to live sports, entertainment, and news, Lizzul tells investors in a research note. The analyst sees value…
Rogers Communications Raises C$2 Billion via Private Debt Offering
Rogers Communications Inc (RCI) priced C$2 billion 5.0 percent fixed-to-fixed rate subordinated notes due 2081 in a private Canadian offering. The net proceeds from the note issue will be C$1.98 billion. RCI will utilize the proceeds to fund a portion of the cash investment required to acquire the 3500 MHz spectrum licenses awarded following the…
Read Why Barclays Sees 37 Percent Upside in Twilio
Barclays analyst Ryan MacWilliams upgraded Twilio Inc (TWLO) to Overweight from Equal Weight with an unchanged price target of $375, implying 36.5 percent upside. The analyst likes the stock setup in fiscal 2022 “on easier compares.” Twilio shares have approached a “more reasonable” valuation versus faster-growth peers since the Q3 earnings report, and investor concerns…
Ciena Clocks 26 Percent Revenue Growth in Q4, Beats Consensus; Plans Share Buyback up to $1 Billion
Ciena Corp (CIEN) reported fourth-quarter FY21 revenue growth of 25.7 percent year-on-year to $1.04 billion, beating the consensus of $1.03 billion. Segments Total Networking Platforms revenue rose by 30.5 percent Y/Y to $828.8 million, and Total Global Services increased 7.6 percent Y/Y to $126.8 million. Margins The adjusted gross margin contracted 320 bps to 46.3…
Hedge funds in November Suffer the Worse Decline Since the Pandemic
December 9, 2021
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Hedge funds in November suffered their worse monthly decline since the start of the pandemic in March 2020. A global market selloff sparked by concerns over the Omicron CCP (Chinese Communist Party) virus variant led to the poor performance, according to a Dec. 8 report from HedgeFund Research. Hedge funds lost 1.7 percent last month,…
Euro Slips, Dollar Rises With Central Banks in Focus; Yuan Drops
December 9, 2021
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London—The euro, pound, and dollar stabilised on Thursday as China’s yuan fell from a 3–1/2-year high and was set for its biggest drop in more than four months. With the U.S. Federal Reserve, European Central Bank, and Bank of England among those meeting to discuss monetary policy next week, investors will be keenly watching for forward…
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