Measles cases approach record as outbreak spreads in New York

The CDC has confirmed 555 measles cases from Jan. 1 through April 11 — approaching the 667 cases diagnosed in 2014 — just four months into this year. Of the 90 new cases reported last week, 77 were in New York, the CDC said. Fifty cases were reported in New York City and 27 were reported in Rockland County. For more on investing in health care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21. Outbreaks, defined as three or more cases, are ongoing in fi


The CDC has confirmed 555 measles cases from Jan. 1 through April 11 — approaching the 667 cases diagnosed in 2014 — just four months into this year. Of the 90 new cases reported last week, 77 were in New York, the CDC said. Fifty cases were reported in New York City and 27 were reported in Rockland County. For more on investing in health care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21. Outbreaks, defined as three or more cases, are ongoing in fi
Measles cases approach record as outbreak spreads in New York Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: angelica lavito, shannon stapleton
Keywords: news, cnbc, companies, spreads, york, cases, week, cdc, approach, health, city, outbreak, record, disease, measles, county, reported


Measles cases approach record as outbreak spreads in New York

Another 90 measles cases were reported in the U.S. last week, putting 2019 on track to be the worst year for the disease since public health officials said it was eradicated in 2010, according to the latest data from the Centers for Disease Control and Prevention.

The CDC has confirmed 555 measles cases from Jan. 1 through April 11 — approaching the 667 cases diagnosed in 2014 — just four months into this year.

Of the 90 new cases reported last week, 77 were in New York, the CDC said. Fifty cases were reported in New York City and 27 were reported in Rockland County. New York City Mayor Bill de Blasio last week declared measles a public health emergency and ordered mandatory vaccinations for people living in Brooklyn’s Williamsburg neighborhood where the disease is spreading.

For more on investing in health care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.

Since January, the disease has been reported in 20 states. Outbreaks, defined as three or more cases, are ongoing in five areas: New York City, New York State’s Rockland County, Washington, New Jersey, California’s Santa Cruz County and California’s Butte County.

The CDC said travelers brought back the disease from places like Israel and Ukraine where large measles outbreaks are occurring. Worldwide, there has been a 300% increase in measles cases, to about 112,000 in the first three months of the year from about 28,000 at the same time last year, the World Health Organization said Monday, citing preliminary data.

Measles is highly contagious, infecting up to 90 percent of unvaccinated people who are exposed to it, according to the Centers for Disease Control and Prevention. The virus can live in the air for up to two hours after an infected person coughs or sneezes, according to the CDC, meaning people can be exposed to it without ever knowing.

People can be infected for days before showing signs of the virus, such as a fever, runny nose or a rash.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: angelica lavito, shannon stapleton
Keywords: news, cnbc, companies, spreads, york, cases, week, cdc, approach, health, city, outbreak, record, disease, measles, county, reported


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American Airlines cancels all 737 Max flights through August 19

American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded. The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. Boeing has slowed production and stopped deliveries as it works on a software fix. United has canceled Max flights through June 5. As major airlines continue to extend cancellations, Boeing said Thursday that it


American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded. The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. Boeing has slowed production and stopped deliveries as it works on a software fix. United has canceled Max flights through June 5. As major airlines continue to extend cancellations, Boeing said Thursday that it
American Airlines cancels all 737 Max flights through August 19 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: emma newburger, shannon stapleton
Keywords: news, cnbc, companies, cancels, max, american, remain, boeing, 19, software, cancellations, travel, fix, summer, flights, 737, airlines


American Airlines cancels all 737 Max flights through August 19

American Airlines is extending cancellations for the Boeing 737 Max aircraft through August 19, a key summer travel period, as the jets remain grounded.

The cancellations amount to about 115 flights per day, roughly 1.5% of American’s total flying per day in the summer, the airline said. They come after the Max’s anti-stall software was implicated in an Ethiopian crash in March that killed 157 people.

It’s unclear when the Max, which has been grounded since mid-March, will return. Boeing has slowed production and stopped deliveries as it works on a software fix.

On Friday, Southwest Airlines removed the Max jet from its schedule through Aug. 5. United has canceled Max flights through June 5.

“We remain confident that the impending software updates, along with the new training elements Boeing is developing for the MAX, will lead to recertification of the aircraft soon,” American CEO Doug Parker and President Robert Isom wrote in a letter to employees Sunday.

Parker also said canceling the flights now will help the airline plan for its busiest travel season of the year.

As major airlines continue to extend cancellations, Boeing said Thursday that it’s completed 96 flights with the new Max software fix. The planemaker will likely submit the fix to Federal Aviation Administration regulators within the next couple weeks.


Company: cnbc, Activity: cnbc, Date: 2019-04-14  Authors: emma newburger, shannon stapleton
Keywords: news, cnbc, companies, cancels, max, american, remain, boeing, 19, software, cancellations, travel, fix, summer, flights, 737, airlines


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Analyst Dick Bove: The war is over and the bankers have won

The House Banking Committee held a hearing on Wednesday to discuss the financial stability of the nation’s biggest banks. However, virtually no queries were posed on financial stability in a hearing that lasted possibly five hours or more. What emerged instead was a series of questions on multiple subjects with no unifying theme. These are men and women who either had been bankers or who are strong supporters of the industry. The stringent regulations that have been restricting banking for a dec


The House Banking Committee held a hearing on Wednesday to discuss the financial stability of the nation’s biggest banks. However, virtually no queries were posed on financial stability in a hearing that lasted possibly five hours or more. What emerged instead was a series of questions on multiple subjects with no unifying theme. These are men and women who either had been bankers or who are strong supporters of the industry. The stringent regulations that have been restricting banking for a dec
Analyst Dick Bove: The war is over and the bankers have won Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: richard x bove, shannon stapleton
Keywords: news, cnbc, companies, likely, bove, emerged, dick, questions, banking, analyst, banks, instead, financial, bankers, hearing, war, stability, won


Analyst Dick Bove: The war is over and the bankers have won

The House Banking Committee held a hearing on Wednesday to discuss the financial stability of the nation’s biggest banks. It requested the presence of the top CEOs to field questions on their finances. However, virtually no queries were posed on financial stability in a hearing that lasted possibly five hours or more.

What emerged instead was a series of questions on multiple subjects with no unifying theme. What emerged was a clear understanding that there would be no meaningful banking legislation for the foreseeable future. Instead the bureaucrats in the banking regulatory sector would be “running” the banks. These are men and women who either had been bankers or who are strong supporters of the industry.

The banks and their investors had won. The only banking news that is likely to emanate from Washington, for the next few years, is going to be positive for the industry. The stringent regulations that have been restricting banking for a decade are likely to be loosened. From my perspective, this will be good for the nation and its economy.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: richard x bove, shannon stapleton
Keywords: news, cnbc, companies, likely, bove, emerged, dick, questions, banking, analyst, banks, instead, financial, bankers, hearing, war, stability, won


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Singapore’s Changi Airport touts the world’s tallest indoor waterfall

Singapore’s Changi Airport has long been touted as the “best airport in the world.” That status becomes even more cemented on April 17, when it will officially open a dazzling presecurity attraction known as Jewel. The next phase of the project rolls out in June, when Jewel Changi Airport opens a bundle of added features (many ticketed) to the public, including a 164-foot-long glass-bottomed bridge, nets for bouncing and walking, mazes, topiary sculptures and more. Housed inside a toroidal, or d


Singapore’s Changi Airport has long been touted as the “best airport in the world.” That status becomes even more cemented on April 17, when it will officially open a dazzling presecurity attraction known as Jewel. The next phase of the project rolls out in June, when Jewel Changi Airport opens a bundle of added features (many ticketed) to the public, including a 164-foot-long glass-bottomed bridge, nets for bouncing and walking, mazes, topiary sculptures and more. Housed inside a toroidal, or d
Singapore’s Changi Airport touts the world’s tallest indoor waterfall Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: harriet baskas, source, jewel changi airport, shannon stapleton, joe raedle, getty images, raveendran, afp, matt nager, bloomberg
Keywords: news, cnbc, companies, changi, waterfallthe, waterfall, jewel, tallest, airport, singapore, walking, touts, indoor, singapores, worlds, structure, 17, world


Singapore's Changi Airport touts the world's tallest indoor waterfall

Singapore’s Changi Airport has long been touted as the “best airport in the world.” That status becomes even more cemented on April 17, when it will officially open a dazzling presecurity attraction known as Jewel.

Inside is a lush four-story tiered garden, more than 280 retail and dining outlets, a hotel, a multi-screen IMAX theater and its centerpiece: a 130-foot-tall Rain Vortex, which is the world’s tallest indoor waterfall.

The next phase of the project rolls out in June, when Jewel Changi Airport opens a bundle of added features (many ticketed) to the public, including a 164-foot-long glass-bottomed bridge, nets for bouncing and walking, mazes, topiary sculptures and more.

Housed inside a toroidal, or doughnut-shaped, glass and steel structure designed by noted architect Moshe Safdie, Jewel Changi Airport is adjacent to Terminal 1 and sits on airport real estate that was formerly a parking lot. The striking new structure now covers more than 1.46 million square feet. It has 10 stories — five above ground and five below — and was built on budget, at a cost of $1.7 billion Singapore dollars (US$1.25 billion).

“Not only will Jewel augment Singapore Changi Airport’s offerings,” said Jewel CEO Hung Jean during a preview of the space, “it will also strengthen Singapore as an attractive tourist destination.”


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: harriet baskas, source, jewel changi airport, shannon stapleton, joe raedle, getty images, raveendran, afp, matt nager, bloomberg
Keywords: news, cnbc, companies, changi, waterfallthe, waterfall, jewel, tallest, airport, singapore, walking, touts, indoor, singapores, worlds, structure, 17, world


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Pinterest’s price range for IPO values the company about $3 billion less than it was 2 years ago

Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silberm


Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silberm
Pinterest’s price range for IPO values the company about $3 billion less than it was 2 years ago Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: sara salinas, brendan mcdermid, tomohiro ohsumi, bloomberg, getty images, shannon stapleton, andres ruffo, adam gault, saeed khan afp, andrew caballero-reynolds
Keywords: news, cnbc, companies, valuation, values, ipo, price, company, valued, tech, pinterest, pinterests, range, stock, share, public, billion, plans, ago


Pinterest's price range for IPO values the company about $3 billion less than it was 2 years ago

Pinterest is prepping for an IPO — Here’s what four experts say about the tech company’s valuation 2 Hours Ago | 02:18

Pinterest is eyeing a valuation of up to $9 billion when it debuts on public exchanges this spring.

That’s something of a discount from the company’s most recent valuation on the private markets, but nonetheless keeps Pinterest in the same neighborhood as other major tech companies with plans for an initial public offering this year.

The image-sharing social network said in a regulatory filing Monday it plans to sell 75 million shares at $15 to $17 per share. At the upper end of its target range, the company would raise $1.3 billion in net proceeds and see a valuation of just under $9 billion, based on an outstanding share count of 529 million shares at the time of the offering. Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. But that’s not how it’ll be valued once it’s public.

Lyft was the first out of the gates in a heavyweight class of tech IPOs. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Uber, Slack, and Postmates have all filed IPO plans for this year.

Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue.

The company reported $756 million in 2018 revenue in its IPO prospectus. Revenue grew 60% year over year, but still made for a net loss of $63 million.

Pinterest will list under the symbol “PINS” on the New York Stock Exchange. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silbermann.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: sara salinas, brendan mcdermid, tomohiro ohsumi, bloomberg, getty images, shannon stapleton, andres ruffo, adam gault, saeed khan afp, andrew caballero-reynolds
Keywords: news, cnbc, companies, valuation, values, ipo, price, company, valued, tech, pinterest, pinterests, range, stock, share, public, billion, plans, ago


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Pinterest’s price range for IPO values the company about $3 billion less than it was 2 years ago

Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silberm


Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silberm
Pinterest’s price range for IPO values the company about $3 billion less than it was 2 years ago Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: sara salinas, brendan mcdermid, tomohiro ohsumi, bloomberg, getty images, shannon stapleton, andres ruffo, adam gault, saeed khan afp, andrew caballero-reynolds
Keywords: news, cnbc, companies, valuation, values, ipo, price, company, valued, tech, pinterest, pinterests, range, stock, share, public, billion, plans, ago


Pinterest's price range for IPO values the company about $3 billion less than it was 2 years ago

Pinterest is prepping for an IPO — Here’s what four experts say about the tech company’s valuation 3 Hours Ago | 02:18

Pinterest is eyeing a valuation of up to $9 billion when it debuts on public exchanges this spring.

That’s something of a discount from the company’s most recent valuation on the private markets, but nonetheless keeps Pinterest in the same neighborhood as other major tech companies with plans for an initial public offering this year.

The image-sharing social network said in a regulatory filing Monday it plans to sell 75 million shares at $15 to $17 per share. At the upper end of its target range, the company would raise $1.3 billion in net proceeds and see a valuation of just under $9 billion, based on an outstanding share count of 529 million shares at the time of the offering. Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. But that’s not how it’ll be valued once it’s public.

Lyft was the first out of the gates in a heavyweight class of tech IPOs. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Uber, Slack, and Postmates have all filed IPO plans for this year.

Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue.

The company reported $756 million in 2018 revenue in its IPO prospectus. Revenue grew 60% year over year, but still made for a net loss of $63 million.

Pinterest will list under the symbol “PINS” on the New York Stock Exchange. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silbermann.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: sara salinas, brendan mcdermid, tomohiro ohsumi, bloomberg, getty images, shannon stapleton, andres ruffo, adam gault, saeed khan afp, andrew caballero-reynolds
Keywords: news, cnbc, companies, valuation, values, ipo, price, company, valued, tech, pinterest, pinterests, range, stock, share, public, billion, plans, ago


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Lyft is back above its IPO price, and a famous short-seller warns not to bet against it

One of Wall Street’s most prominent short sellers has a word to the wise: Don’t bet against Lyft. Andrew Left of Citron Research — famous for shorting Tesla and Valeant Pharmaceuticals — called betting against the ride-hailing company an “amateur trade.” Lyft lost $911 million despite $2.1 billion in revenue last year, according to a regulatory filing. Lyft surged 9 percent in its highly anticipated IPO, but stumbled 12 percent by the second trading day. At a reported $120 billion valuation, U


One of Wall Street’s most prominent short sellers has a word to the wise: Don’t bet against Lyft. Andrew Left of Citron Research — famous for shorting Tesla and Valeant Pharmaceuticals — called betting against the ride-hailing company an “amateur trade.” Lyft lost $911 million despite $2.1 billion in revenue last year, according to a regulatory filing. Lyft surged 9 percent in its highly anticipated IPO, but stumbled 12 percent by the second trading day. At a reported $120 billion valuation, U
Lyft is back above its IPO price, and a famous short-seller warns not to bet against it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: kate rooney, shannon stapleton
Keywords: news, cnbc, companies, left, warns, famous, million, ipo, billion, price, uber, lyft, shortseller, according, company, public, way, bet


Lyft is back above its IPO price, and a famous short-seller warns not to bet against it

One of Wall Street’s most prominent short sellers has a word to the wise: Don’t bet against Lyft.

Andrew Left of Citron Research — famous for shorting Tesla and Valeant Pharmaceuticals — called betting against the ride-hailing company an “amateur trade.”

“Shorting disruptive companies that dominate a megatrend simply because they lose money is a sure way to go broke,” Left wrote in a note to clients Friday.

Lyft, much like its larger rival Uber, is losing money. Lyft lost $911 million despite $2.1 billion in revenue last year, according to a regulatory filing. During its initial public offering roadshow, the company promised eventual 20 percent EBITDA margins but provided no timeline for that.

The San Francisco-based company made its public debut on the Nasdaq last Thursday. Lyft surged 9 percent in its highly anticipated IPO, but stumbled 12 percent by the second trading day. On Friday, it rallied 5 percent and traded back above its IPO price of $72.

Citron is long on Lyft, citing high growth despite losses.

The company grew its active ridership by more than five times from the first quarter of 2016 to the end of last year, according to a regulatory filing. It also has plenty of room to run based on some projections of its total addressable market.

Left pointed to a Goldman Sachs estimate that the ride hailing industry is expected to grow to $285 billion by 2030. It’s also a discount compared to Uber, which plans to go public in the coming months. At a reported $120 billion valuation, Uber is valued six times higher than Lyft, Left said.

“The entire ride share market in the US only accounts for 1% of miles traveled today…. we have only just begun,” Left said. “This is not a trendy video game or a GoPro camera…. this is a way of life that is saving people time and ensuring safety. Ridesharing is not a fad… it is a megatrend.”

Some hedge funds are less convinced.

According to IHS Markit, short sellers have borrowed6.61 million shares of Lyft, or $455 million worth. It’s expensive to bet against Lyft. The cost to borrow the ride-hailing shares rose to more than 100 percent a day, making it the most expensive U.S. company with more than $5 million in balances to bet against, according to IHS Markit.

— CNBC’s Yun Li contributed reporting.


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: kate rooney, shannon stapleton
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Wells Fargo’s stock is a ‘classic value trap,’ strategist warns

Betting on Wells Fargo might not be a safe bet, according to one strategist. But even these lows aren’t enough to make Joule Financial founder and investment chief Quint Tatro get bullish on Wells Fargo. “With Tim Sloan gone, I think that’s a positive, but they’ve got to bring somebody in who’s going to innovate. Still, he couldn’t completely discount Tatro’s argument that Wells Fargo isn’t exactly the cream of the crop in the financial sector. I don’t hold Wells Fargo.”


Betting on Wells Fargo might not be a safe bet, according to one strategist. But even these lows aren’t enough to make Joule Financial founder and investment chief Quint Tatro get bullish on Wells Fargo. “With Tim Sloan gone, I think that’s a positive, but they’ve got to bring somebody in who’s going to innovate. Still, he couldn’t completely discount Tatro’s argument that Wells Fargo isn’t exactly the cream of the crop in the financial sector. I don’t hold Wells Fargo.”
Wells Fargo’s stock is a ‘classic value trap,’ strategist warns Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-30  Authors: lizzy gurdus, shannon stapleton, scott mlyn, brendan smialowski, afp, getty images, rosley majid, eyeem, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, stock, hold, tatro, gordon, fargos, warns, thats, trading, think, disrupted, strategist, trap, wells, classic, going, value, fargo


Wells Fargo's stock is a 'classic value trap,' strategist warns

Betting on Wells Fargo might not be a safe bet, according to one strategist.

The stock caught Wall Street’s attention Thursday following the company’s announcement that CEO Tim Sloan was retiring effective immediately. Shares initially surged on the news in after-hours trading before reversing and shedding over 1.5 percent in Friday’s session.

But even these lows aren’t enough to make Joule Financial founder and investment chief Quint Tatro get bullish on Wells Fargo.

“If you want to own a stock like this for the dividend, I think that’s fine, but if you’re looking for any sort of capital appreciation or upward bias over the next year or so, I think you’re going to be sadly mistaken. It’s a classic value trap,” Tatro said Friday on CNBC’s “Trading Nation.”

Some fundamentalists will argue that Wells Fargo is indeed a safe bet that gives investors a “decent return on assets” and pays out roughly $7 a share, but its problems may outweigh its benefits, Tatro argued.

“The problem is, obviously, they have a major public issue. They lost all trust,” he said. “With Tim Sloan gone, I think that’s a positive, but they’ve got to bring somebody in who’s going to innovate. Fifty percent of the business is community banking. That’s being disrupted before our eyes. About 20 percent is wealth management; also being disrupted. So their major segments are in areas that they’ve lost confidence in, and they’re going to see continued decrease in margins because their industries are totally being disrupted and they’re not doing a thing about it.”

TradingAnalysis.com founder Todd Gordon admitted he wasn’t quite as bearish, noting that Wells Fargo shares have been in an uptrend for the better part of a decade.

“If you look at … the map of where we’ve been post-2009, it’s traced a very nice parallel channel here,” Gordon said in the same “Trading Nation” interview. “We’ve not quite broken that uptrend that’s been in play for nine years now.”

Still, he couldn’t completely discount Tatro’s argument that Wells Fargo isn’t exactly the cream of the crop in the financial sector.

“I agree with Quint; there is value in other names,” Gordon said. “I hold J.P. Morgan. I hold Bank of America in my portfolio. I don’t hold Wells Fargo.”


Company: cnbc, Activity: cnbc, Date: 2019-03-30  Authors: lizzy gurdus, shannon stapleton, scott mlyn, brendan smialowski, afp, getty images, rosley majid, eyeem, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, stock, hold, tatro, gordon, fargos, warns, thats, trading, think, disrupted, strategist, trap, wells, classic, going, value, fargo


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Stocks making the biggest moves midday: Lyft, DowDuPont, Wells Fargo & more

CarMax reported earnings of $1.13 per share, 9 cents higher than expected. BlackBerry reported earnings of 11 cents per share, 5 cents higher than a Refenitiv estimate, and revenue of $255 million, $13.2 million higher than estimates. Lyft — Shares of the ride-sharing company surged nearly 20 percent in its initial public offering. Progress Software — Shares of the software company surged nearly 17 percent after it posted better-than-forecast earnings. Progress reported earnings of 50 cents per


CarMax reported earnings of $1.13 per share, 9 cents higher than expected. BlackBerry reported earnings of 11 cents per share, 5 cents higher than a Refenitiv estimate, and revenue of $255 million, $13.2 million higher than estimates. Lyft — Shares of the ride-sharing company surged nearly 20 percent in its initial public offering. Progress Software — Shares of the software company surged nearly 17 percent after it posted better-than-forecast earnings. Progress reported earnings of 50 cents per
Stocks making the biggest moves midday: Lyft, DowDuPont, Wells Fargo & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: fred imbert, shannon stapleton
Keywords: news, cnbc, companies, shares, earnings, moves, midday, share, wells, reported, surged, cents, nearly, lyft, making, dowdupont, company, stocks, higher, fargo, vote, biggest


Stocks making the biggest moves midday: Lyft, DowDuPont, Wells Fargo & more

Check out the companies making headlines midday Friday:

Celgene — Shares of Celgene rose 6.58 percent after proxy advisors Institutional Shareholder Services and Glass Lewis recommended that Bristol-Myers Squibb shareholders vote in favor of its bid to buy Celgene. The recommendations come weeks before shareholders vote on the $74 billion buyout of the biotechnology company.

CarMax — CarMax jumped 8.37 percent after it reported better than expected fourth-quarter earnings. CarMax reported earnings of $1.13 per share, 9 cents higher than expected.

BlackBerry — Shares of BlackBerry surged 14.19 percent after the company reported fourth-quarter results that beat analyst expectations. BlackBerry reported earnings of 11 cents per share, 5 cents higher than a Refenitiv estimate, and revenue of $255 million, $13.2 million higher than estimates.

RH —Shares of the luxury home goods retailer plummeted nearly 20 percent after the company issued full-year earnings guidance that widely missed expectations. RH said it expects adjusted earnings per share to range between $8.41 and $9.08, well below a FactSet consensus of $10.11.

Wells Fargo — The bank’s stock dipped 2 percent after CEO Tim Sloan announced on Wednesday he would retire from his post. Sloan took over as chief executive in 2016 after news that employees created millions of fake accounts to inflate sales numbers.

Lyft — Shares of the ride-sharing company surged nearly 20 percent in its initial public offering. The IPO priced at $72 per share, well ahead of an initial range of $62 to $68.

Comcast — Comcast shares slipped 1.6 percent after RBC downgraded them to sector perform from outperform, citing worries over households dropping cable in favor of streaming services and slower household growth.

DowDuPont — The Dow component fell 1.4 percent after cutting its sales forecast for the first quarter. DowDuPont noted its agricultural business took a hit from floods in the Midwest.

Progress Software — Shares of the software company surged nearly 17 percent after it posted better-than-forecast earnings. Progress reported earnings of 50 cents per share, while analysts polled by Refinitiv expected a profit of 47 cents a share.

—CNBC’s Nadine El-Bawab contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: fred imbert, shannon stapleton
Keywords: news, cnbc, companies, shares, earnings, moves, midday, share, wells, reported, surged, cents, nearly, lyft, making, dowdupont, company, stocks, higher, fargo, vote, biggest


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Lyft’s highly anticipated IPO is here—3 experts share their thoughts

The ride-hailing company went public Friday, surging 20 percent above its initial offering price of $72. The shares traded in the $80 to $88 range for most of the session, with more than 19 million shares traded as of noon Friday. Market watchers are largely encouraged by Lyft’s successful opening, as it marks the first of several handful highly anticipated big tech IPOs this year, but some worry about its competitive positioning. So I’m really, really glad that this went off without a hitch and


The ride-hailing company went public Friday, surging 20 percent above its initial offering price of $72. The shares traded in the $80 to $88 range for most of the session, with more than 19 million shares traded as of noon Friday. Market watchers are largely encouraged by Lyft’s successful opening, as it marks the first of several handful highly anticipated big tech IPOs this year, but some worry about its competitive positioning. So I’m really, really glad that this went off without a hitch and
Lyft’s highly anticipated IPO is here—3 experts share their thoughts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: lizzy gurdus, mike blake, shannon stapleton, scott mlyn, brendan smialowski, afp, getty images, rosley majid, eyeem, kcna
Keywords: news, cnbc, companies, anticipated, public, thoughts, went, stocks, really, experts, today, highly, lyfts, uber, shares, ipo, traded, share, think, here3


Lyft's highly anticipated IPO is here—3 experts share their thoughts

Lyft has arrived.

The ride-hailing company went public Friday, surging 20 percent above its initial offering price of $72. The shares traded in the $80 to $88 range for most of the session, with more than 19 million shares traded as of noon Friday.

Market watchers are largely encouraged by Lyft’s successful opening, as it marks the first of several handful highly anticipated big tech IPOs this year, but some worry about its competitive positioning.

Here are three Wall Street experts’ takes on Lyft’s IPO:

Josh Brown, co-founder and CEO of Ritholtz Wealth Management and a CNBC contributor, called the stock’s opening action “fantastic,” though he wasn’t exactly a buyer:

“I just love that I’m talking to young investors now and they are excited about stocks, and this is part of the reason. They know this company. They use it. It’s actually friendlier to the younger generation than Uber is in terms of pricing and some of the various ways in which the app works. So I’m really, really glad that this went off without a hitch and that it’s being supported in the aftermarket. Now, does that mean you want to invest in it? No, I don’t. I think it’s a taxi company.”

Roger McNamee, co-founder of Elevation Partners, harbored concerns about the prospect of a publicly traded Uber, which is also expected to go public in 2019:

“This is a fantastic deal for the Lyft management team and for the early investors. I think for the public market buyer coming in today, this is going to be a lot dicier, and because it’s the first one out, it’s not crazy to imagine the stock does well initially, but in the long run, they have this fundamental problem. It’s not a profitable business today and they have a really well-financed, much larger competitor. And the two of them, I think, are just going to have to slug it out until one of them either runs out of cash or the two of them merge.”

Business Insider founder and CEO Henry Blodget addressed worries around Lyft’s valuation, which is currently hovering around $25 billion:


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: lizzy gurdus, mike blake, shannon stapleton, scott mlyn, brendan smialowski, afp, getty images, rosley majid, eyeem, kcna
Keywords: news, cnbc, companies, anticipated, public, thoughts, went, stocks, really, experts, today, highly, lyfts, uber, shares, ipo, traded, share, think, here3


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