Europe stocks trade lower as trade fears linger; Brexit talks collapse; Thomas Cook shares down 29%

European stocks traded lower Friday as trade fears ratcheted up, amid the U.S. administration’s bid to blacklist Chinese telecoms giant Huawei and the ruling Chinese Communist Party’s newspaper striking a defiant tone. The notable contributor to auto losses was BMW, which saw its shares slip 5.7%. In Asia, most major indexes gained in Friday trade following overnight gains on Wall Street, but mainland Chinese shares tumbled amid ongoing tensions between Beijing and Washington. Stateside, investo


European stocks traded lower Friday as trade fears ratcheted up, amid the U.S. administration’s bid to blacklist Chinese telecoms giant Huawei and the ruling Chinese Communist Party’s newspaper striking a defiant tone. The notable contributor to auto losses was BMW, which saw its shares slip 5.7%. In Asia, most major indexes gained in Friday trade following overnight gains on Wall Street, but mainland Chinese shares tumbled amid ongoing tensions between Beijing and Washington. Stateside, investo
Europe stocks trade lower as trade fears linger; Brexit talks collapse; Thomas Cook shares down 29% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: elliot smith
Keywords: news, cnbc, companies, trade, linger, thomas, cook, talks, losses, stocks, war, ruling, chinese, saw, shares, lower, fears, traded, europe, tensions


Europe stocks trade lower as trade fears linger; Brexit talks collapse; Thomas Cook shares down 29%

European stocks traded lower Friday as trade fears ratcheted up, amid the U.S. administration’s bid to blacklist Chinese telecoms giant Huawei and the ruling Chinese Communist Party’s newspaper striking a defiant tone.

The pan-European STOXX 600 dropped 0.6% after the opening bell, autos leading the losses with a fall of 1.6% in the early minutes of trading, while only travel and leisure and utilities stocks traded in the black mid-morning.

The notable contributor to auto losses was BMW, which saw its shares slip 5.7%.

The morning’s biggest loser was British tour operator Thomas Cook, which saw its shares plummet 30% by mid-morning, hitting their lowest since July 2012 and on track for the biggest one-day drop since November 2011. Citi analysts downgraded the company’s stock to “sell” after its latest profit warning Thursday.

In Asia, most major indexes gained in Friday trade following overnight gains on Wall Street, but mainland Chinese shares tumbled amid ongoing tensions between Beijing and Washington. The Shenzhen component led the losses, dropping 1.77% in the morning session.

Stateside, investors will be monitoring the trade war between the world’s largest economies, as President Donald Trump’s bid to block Huawei from buying American technology ratcheted up tensions. Meanwhile, China’s ruling Communist Party’s newspaper struck a defiant tone Friday, insisting the trade war will only make China stronger.

While major U.S. indexes gained Thursday, shares in American chipmakers fell upon the news.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: elliot smith
Keywords: news, cnbc, companies, trade, linger, thomas, cook, talks, losses, stocks, war, ruling, chinese, saw, shares, lower, fears, traded, europe, tensions


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European stocks close higher as trade fears fade

European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. Kone shares traded 4.98% higher. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over thre


European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade. Kone shares traded 4.98% higher. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace. Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over thre
European stocks close higher as trade fears fade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, trade, president, higher, stocks, technology, chinese, trump, shares, fade, fears, traded, market, close, threats


European stocks close higher as trade fears fade

European stocks traded higher Thursday as markets recovered from an early rattle caused by U.S. President Donald Trump’s renewed targeting of Chinese tech firm Huawei. The pan-European STOXX 600 hit a day high just around the close of trade.

The STOXX 600 closed provisionally up by around 1.2%, Chemicals leading the gains with a 2.54% climb, while autos struggled to make headway, slipping 0.6%.

Thyssenkrupp was the strongest performer, its stock rising 10.03% on reports that Finland’s Kone is assessing the viability of a bid for the German industrial company’s elevators division. Kone shares traded 4.98% higher.

The European Commission revealed Thursday that Barclays, Citigroup, J.P. Morgan, MUFG and Royal Bank of Scotland have been fined a total of 1.07 billion euros ($1.2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.

In Asia, shares were mixed in Thursday afternoon trade after the U.S. took aim at Huawei again, with President Donald Trump declaring a national emergency over threats against U.S. technology. The move, done via executive order, is expected to precede a ban on American firms dealing with the Chinese telecommunications company.

However, French President Emmanuel Macron spoke to CNBC Thursday and poured cold water on the idea of implementing protectionist measures on tech companies like Huawei.

Mainland Chinese and Hong Kong shares recovered from an early slip to trade slightly higher in the afternoon, while stocks in Japan and South Korea finished in the red.

Stateside, investors will be monitoring a volatile market environment after stocks rose Wednesday following multiple sources telling CNBC of the delay to auto tariffs. This came after a market sell-off Monday as the trade war between the world’s largest economies gathered pace.

Trade tensions, however, continued to weigh on investor sentiment as Trump declared a national emergency over threats against American technology.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: elliot smith
Keywords: news, cnbc, companies, european, trade, president, higher, stocks, technology, chinese, trump, shares, fade, fears, traded, market, close, threats


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Dow makes stunning comeback, recovering nearly all of 471-point plunge on hope trade deal not dead

The Dow Jones Industrial Average ended the day down just 66.47 points at 26,438.48, while the S&P 500 closed 0.4% lower at 2,932.47. The Dow was down as much as 471 points, while the S&P 500 traded down 1.2% at its lows. “I think [Trump] is trying to put pressure on China to make a move,” he said. The tech-heavy Nasdaq, which has soared more than 20% this year, clinched a record close on Friday. The president’s announcement appeared to contradict fresh suggestions from Treasury Secretary Steven


The Dow Jones Industrial Average ended the day down just 66.47 points at 26,438.48, while the S&P 500 closed 0.4% lower at 2,932.47. The Dow was down as much as 471 points, while the S&P 500 traded down 1.2% at its lows. “I think [Trump] is trying to put pressure on China to make a move,” he said. The tech-heavy Nasdaq, which has soared more than 20% this year, clinched a record close on Friday. The president’s announcement appeared to contradict fresh suggestions from Treasury Secretary Steven
Dow makes stunning comeback, recovering nearly all of 471-point plunge on hope trade deal not dead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-05  Authors: fred imbert eustance huang thomas franck silvia am, fred imbert, eustance huang, thomas franck, silvia amaro
Keywords: news, cnbc, companies, trade, china, plunge, nearly, recovering, think, trump, dow, record, nasdaq, mulvaney, stunning, traded, hope, dead, deal, chinese, sp, makes


Dow makes stunning comeback, recovering nearly all of 471-point plunge on hope trade deal not dead

Stocks recovered the bulk of their earlier losses on Monday as investors bet China and the U.S. will still strike a trade deal despite President Donald Trump’s threat to hike tariffs on Chinese imports over the weekend.

The Dow Jones Industrial Average ended the day down just 66.47 points at 26,438.48, while the S&P 500 closed 0.4% lower at 2,932.47. The Nasdaq Composite was down 0.5% at 8,123.29.

The market’s comeback accelerated after CNBC reported that a Chinese delegation will in fact still travel to the U.S. to continue negotiations this week, according to sources, albeit with a smaller group than originally planned.

The Dow was down as much as 471 points, while the S&P 500 traded down 1.2% at its lows. The Nasdaq was briefly down 2.2%. Dow-member Disney traded 0.2% higher after falling as much as 1.5%, offsetting some of the decline. McDonald’s and Chevron traded higher as well.

Stocks initially fell after Trump tweeted on Sunday that the current 10% levies on $200 billion worth of Chinese goods will rise to 25% on Friday. He also threatened to impose 25% tariffs on an additional $325 billion of Chinese goods “shortly.”

Though trade negotiations between Washington and Beijing officials are set to resume on Wednesday, the president lamented that the progress is moving “too slowly” as China tries to re-negotiate terms of the deal.

Trump claimed in another tweet Monday that the U.S. is losing between $600 and $800 billion a year on trade, noting: “We’re not going to be doing that anymore.”

“What happened overnight is a bit of posturing on both sides. I think both sides want to continue the progress to reach a trade agreement,” said Michael Arone, chief investment strategist at State Street Global Advisors. “I think it’s a short-term hiccup in a longer-term move up from the market.”

Shares of Apple and Caterpillar came off their worst levels of the session, closing more than 1% lower. Apple fell as much as 3.9% while Caterpillar lost 3.4% at one point.

The apparent about-face in trade sentiment by Trump left some Wall Street insiders worried about the effect on the U.S. equity market, which was fresh off record highs.

“A lot of people were caught long,” said Larry Benedict, founder of The Opportunistic Trader. “I think [Trump] is trying to put pressure on China to make a move,” he said.

The S&P 500 notched a record close last Tuesday. The tech-heavy Nasdaq, which has soared more than 20% this year, clinched a record close on Friday.

The president’s announcement appeared to contradict fresh suggestions from Treasury Secretary Steven Mnuchin and White House chief of staff Mick Mulvaney. Asked Tuesday about Mnuchin’s prior suggestion that the White House could announce an agreement with Beijing in the next two weeks, Mulvaney said, “I think that’s fair.”

The positive outlook from Mnuchin and Mulvaney — as well as upbeat commentary from director of Trump’s National Economic Council, Larry Kudlow — has often met contradiction from trade hardliners like U.S. Trade Representative Robert Lighthizer.


Company: cnbc, Activity: cnbc, Date: 2019-05-05  Authors: fred imbert eustance huang thomas franck silvia am, fred imbert, eustance huang, thomas franck, silvia amaro
Keywords: news, cnbc, companies, trade, china, plunge, nearly, recovering, think, trump, dow, record, nasdaq, mulvaney, stunning, traded, hope, dead, deal, chinese, sp, makes


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Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech


The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech
Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

Samsung’s decision to delay the release of the nearly $2,000 foldable phone will hurt its brand reputation in the short term, but the flagging smartphone industry is still betting on the tech giant to produce a winner, analysts said Tuesday.

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. After some reviewers, including CNBC’s Todd Haselton, encountered issues with early testing units, Samsung said Monday the phone “needs further improvements” before it’s released to customers. The company added that a new release date will be announced “in the coming weeks.”

Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat.

If the phone’s launch is delayed for too long, it will be a cause for concern among stakeholders, according to Daniel Yoo, head of global strategy and research at Kiwoom Securities. He told CNBC by email that Samsung’s flagship Galaxy S10 is seen as a “very satisfactory” device, but the launch of the foldable phone will determine if the world’s largest smartphone maker can remain a leader in the sector and continue to play an important role in technology advancement.

“I expect Samsung to solve all the problems before the newly announced official launch date, and the date will be most likely before the end of 2Q2019,” he said, referring to the three months that will end in June. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.”

Bob O’Donnell, president, founder and chief analyst at Technalysis Research, told CNBC’s “Squawk Box” on Tuesday that the delay will hit Samsung’s brand.

“Granted, it’s going to hit the brand, but I don’t think it’s a killer. It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.”

In 2016, Samsung experienced one of the worst technology recalls in recent times after some of its faulty Galaxy Note 7 devices suffered battery malfunctions and spontaneously caught fire.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


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Dow futures edge higher after US ends all exemptions from Iran oil sanctions

U.S. stock index futures were slightly higher Tuesday morning, as market participants await a flurry of corporate earnings. ET, Dow futures rose by 23 points, indicating a positive open of more than 27 points. Oil prices jumped more than 2% in the previous session, hitting their highest level this year amid intensifying concern about global supplies. The world’s largest economy said Monday that from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing


U.S. stock index futures were slightly higher Tuesday morning, as market participants await a flurry of corporate earnings. ET, Dow futures rose by 23 points, indicating a positive open of more than 27 points. Oil prices jumped more than 2% in the previous session, hitting their highest level this year amid intensifying concern about global supplies. The world’s largest economy said Monday that from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing
Dow futures edge higher after US ends all exemptions from Iran oil sanctions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: sam meredith
Keywords: news, cnbc, companies, waivers, ends, worlds, sanctions, points, traded, oil, futures, wti, morning, west, edge, dow, exemptions, higher, iran


Dow futures edge higher after US ends all exemptions from Iran oil sanctions

U.S. stock index futures were slightly higher Tuesday morning, as market participants await a flurry of corporate earnings.

At around 02:00 a.m. ET, Dow futures rose by 23 points, indicating a positive open of more than 27 points. Futures on the S&P and Nasdaq were both seen marginally higher.

Oil prices jumped more than 2% in the previous session, hitting their highest level this year amid intensifying concern about global supplies. It comes after the U.S. announced a further clampdown on Iran’s oil exports.

The world’s largest economy said Monday that from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.

International benchmark Brent crude traded at $74.40 Tuesday morning, up around 0.5%, while U.S. West Texas Intermediate (WTI) stood at $65.93, almost 0.6% higher.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: sam meredith
Keywords: news, cnbc, companies, waivers, ends, worlds, sanctions, points, traded, oil, futures, wti, morning, west, edge, dow, exemptions, higher, iran


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Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech


The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.” It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.” In 2016, Samsung experienced one of the worst tech
Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


Samsung delays shipping its $2,000 folding smartphone. Analysts say that hurts the brand

Samsung’s decision to delay the release of the nearly $2,000 foldable phone will hurt its brand reputation in the short term, but the flagging smartphone industry is still betting on the tech giant to produce a winner, analysts said Tuesday.

The South Korean electronics firm was set to launch its Galaxy Fold smartphone on April 26. After some reviewers, including CNBC’s Todd Haselton, encountered issues with early testing units, Samsung said Monday the phone “needs further improvements” before it’s released to customers. The company added that a new release date will be announced “in the coming weeks.”

Samsung shares traded down 0.33% Tuesday afternoon, tracking below the South Korean benchmark index, Kospi, which traded near flat.

If the phone’s launch is delayed for too long, it will be a cause for concern among stakeholders, according to Daniel Yoo, head of global strategy and research at Kiwoom Securities. He told CNBC by email that Samsung’s flagship Galaxy S10 is seen as a “very satisfactory” device, but the launch of the foldable phone will determine if the world’s largest smartphone maker can remain a leader in the sector and continue to play an important role in technology advancement.

“I expect Samsung to solve all the problems before the newly announced official launch date, and the date will be most likely before the end of 2Q2019,” he said, referring to the three months that will end in June. “I doubt that the delay will be for long period of time given it had experience of Note 7 launch.”

Bob O’Donnell, president, founder and chief analyst at Technalysis Research, told CNBC’s “Squawk Box” on Tuesday that the delay will hit Samsung’s brand.

“Granted, it’s going to hit the brand, but I don’t think it’s a killer. It’s not like the Note 7 battery issue or anything like that,” he said, adding the smartphone giant needs “to get this right.”

In 2016, Samsung experienced one of the worst technology recalls in recent times after some of its faulty Galaxy Note 7 devices suffered battery malfunctions and spontaneously caught fire.


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: saheli roy choudhury, magdalena petrova
Keywords: news, cnbc, companies, analysts, smartphone, launch, phone, note, delay, traded, samsung, samsungs, delays, date, hurts, 2000, folding, brand, say, shipping, galaxy


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Watch now: ETF Edge on how ‘YOLO’ is making a splash in the Cannabis space

There’s a new kid in the Cannabis space – YOLO. The ETF, which launched last week, is just the second U.S. listed marijuana exchange traded fund. Dave Nadig of ETF.com and ETF legend Reggie Brown of Cantor Fitzgerald discuss what it means for the cannabis trade. CNBC’s ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants at the NYSE to offer educational and actionable advice to help you buil


There’s a new kid in the Cannabis space – YOLO. The ETF, which launched last week, is just the second U.S. listed marijuana exchange traded fund. Dave Nadig of ETF.com and ETF legend Reggie Brown of Cantor Fitzgerald discuss what it means for the cannabis trade. CNBC’s ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants at the NYSE to offer educational and actionable advice to help you buil
Watch now: ETF Edge on how ‘YOLO’ is making a splash in the Cannabis space Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: bob pisani
Keywords: news, cnbc, companies, week, space, cannabis, second, yolo, trend, edge, theres, etf, tradecnbcs, traded, splash, watch, making


Watch now: ETF Edge on how 'YOLO' is making a splash in the Cannabis space

There’s a new kid in the Cannabis space – YOLO. The ETF, which launched last week, is just the second U.S. listed marijuana exchange traded fund. Dave Nadig of ETF.com and ETF legend Reggie Brown of Cantor Fitzgerald discuss what it means for the cannabis trade.

CNBC’s ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants at the NYSE to offer educational and actionable advice to help you build your best portfolio.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: bob pisani
Keywords: news, cnbc, companies, week, space, cannabis, second, yolo, trend, edge, theres, etf, tradecnbcs, traded, splash, watch, making


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Stocks set for muted open after Monday’s rally

U.S. stock futures were little changed on Tuesday as investors digested a strong rally from the previous session. ET, Dow Jones Industrial Average futures traded 3 points higher, indicating a decline of 7 points at the open, while the S&P 500 and Nasdaq indexes also pointed to a flat open. The muted moves come after strong manufacturing data out of the U.S. and China raised sentiment during Monday’s session, with the Dow closing above 26,000 points for the first time since Feb. 26. U.S. manufact


U.S. stock futures were little changed on Tuesday as investors digested a strong rally from the previous session. ET, Dow Jones Industrial Average futures traded 3 points higher, indicating a decline of 7 points at the open, while the S&P 500 and Nasdaq indexes also pointed to a flat open. The muted moves come after strong manufacturing data out of the U.S. and China raised sentiment during Monday’s session, with the Dow closing above 26,000 points for the first time since Feb. 26. U.S. manufact
Stocks set for muted open after Monday’s rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: ryan browne
Keywords: news, cnbc, companies, stocks, manufacturing, futures, dow, traded, strong, muted, set, data, showed, et, rally, points, activity, mondays, open


Stocks set for muted open after Monday's rally

U.S. stock futures were little changed on Tuesday as investors digested a strong rally from the previous session.

As of 8 a.m. ET, Dow Jones Industrial Average futures traded 3 points higher, indicating a decline of 7 points at the open, while the S&P 500 and Nasdaq indexes also pointed to a flat open.

The muted moves come after strong manufacturing data out of the U.S. and China raised sentiment during Monday’s session, with the Dow closing above 26,000 points for the first time since Feb. 26.

U.S. manufacturing activity expanded last month, data showed, rebounding from its lowest level since late 2016. A separate survey showed China’s factory activity also rebounded, expanding at its fastest pace in eight months.

In other data news, the U.S. durable goods report is due to be released Tuesday at 8:30 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: ryan browne
Keywords: news, cnbc, companies, stocks, manufacturing, futures, dow, traded, strong, muted, set, data, showed, et, rally, points, activity, mondays, open


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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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Lyft pops 20% in trading debut

The initial public offering marks the first debut from a heavyweight class of tech companies going public in 2019. Lyft said Thursday that it sold 32.5 million shares — more than expected — at $72 apiece. That’s at the high end of the stated range, which was already boosted from an initial range of $62 to $68. Appetite for the stock was strong though, with more than 6 million shares traded at the open. More than 19 million shares had been traded as of noon in New York, about 15 minutes after the


The initial public offering marks the first debut from a heavyweight class of tech companies going public in 2019. Lyft said Thursday that it sold 32.5 million shares — more than expected — at $72 apiece. That’s at the high end of the stated range, which was already boosted from an initial range of $62 to $68. Appetite for the stock was strong though, with more than 6 million shares traded at the open. More than 19 million shares had been traded as of noon in New York, about 15 minutes after the
Lyft pops 20% in trading debut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: sara salinas, mike blake
Keywords: news, cnbc, companies, shares, traded, debut, tech, range, share, public, trading, lyft, initial, pops, million, 20, stock


Lyft pops 20% in trading debut

Lyft just went public — Here’s what eight experts say to watch now 1 Hour Ago | 05:04

Lyft’s stock started trading on the public market Friday at $87.24 per share, more than 20 percent above its IPO price of $72.

The initial public offering marks the first debut from a heavyweight class of tech companies going public in 2019.

Lyft said Thursday that it sold 32.5 million shares — more than expected — at $72 apiece. That’s at the high end of the stated range, which was already boosted from an initial range of $62 to $68. That means the company raised about $2.3 billion from the listing.

The stock held at around $87 in its first few minutes of trading before falling to $80 per share — something of a modest IPO for such a giant tech company. Appetite for the stock was strong though, with more than 6 million shares traded at the open. More than 19 million shares had been traded as of noon in New York, about 15 minutes after the debut.

The initial pop nudges Lyft’s valuation to $25 billion.


Company: cnbc, Activity: cnbc, Date: 2019-03-29  Authors: sara salinas, mike blake
Keywords: news, cnbc, companies, shares, traded, debut, tech, range, share, public, trading, lyft, initial, pops, million, 20, stock


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