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Regeneron Pharmaceuticals, Inc.
Fresenius Medical Care AG & Co. KGaA
Marvell Technology Group Ltd.
BioMarin Pharmaceutical Inc.
Carrier Global Corporation
Knight-Swift Transportation Holdings Inc.
The New York Times Company
Nuance Communications, Inc.
Pan American Silver Corp.
United Microelectronics Corporation
Thor Industries, Inc.
Vertiv Holdings Co.
The Descartes Systems Group Inc
Lattice Semiconductor Corporation
Arena Pharmaceuticals, Inc.
Alarm.com Holdings, Inc.
Open Lending President and CEO John Flynn, CFO and COO Ross Jessup By John Jannarone The COVID crisis may have caused auto loan demand to stall, but investors who look closely will see it’s revving back up – and the fintech behind it matters more than ever. Open Lending’s technology that helps lenders extend more […]
Shares of Cloudera (NYSE: CLDR) sank on Thursday after the cloud software company reported its first-quarter results. Cloudera reported first-quarter revenue of $210.5 million, up 12% year over year and $5.9 million higher than the average analyst estimate. Subscription revenue grew at a quicker 21% pace, reaching $187.1 million.
As a result of strong demand, eBay now expects revenue to come in between $2.75 billion and $2.8 billion in the current quarter, representing 13% to 16% year-over-year growth. If eBay hits the high end of the EPS range it will represent growth of 60%.
Lamborghini sales stay nicely in motion despite the global economic downturn. Yahoo Finance chats with Lamborghini Chairman and CEO Stefano Domenicali.
(Bloomberg) -- Rajeev Fernando, a medical doctor and first responder working in New York, told U.K. lawmakers that one of the biggest challenges he’d faced is public belief in conspiracy theories and bogus cures about Covid-19.“I’ve also heard too many patients say Covid-19 is just like the flu; this misinformation has kept many at home thinking this will disappear,” Fernando said. “By the time some people are hospitalized, they’re already in multi-organ failure and death is inevitable.”Executives from Facebook Inc., Twitter Inc. and Alphabet Inc.’s Google were interviewed by British lawmakers on Thursday about how their companies handled the spread of medical misinformation during the Covid-19 pandemic.The parliamentary committee leading the investigation published a selection of evidence it had gathered in advance of the questioning from front-line medical professionals. It was strongly worded, centering around how the public has suffered as a direct result of misinformation via social media.Read more: Twitter Will Add Labels to Some Misleading Covid-19 TweetsThomas Knowles, a medical doctor in the U.K., said in his written evidence that he’d taken a call from a woman whose symptoms made him “strongly suspect that she was experiencing a heart attack,” he said.Knowles said the woman told him she wouldn’t allow emergency medics in her home to take her to hospital because her doctor had informed her that she had to shield herself because of her other health conditions, and that she’d read on Facebook that it meant she’d definitely die if she went to hospital and caught it.“I was forced to accept her right to decline treatment, and she received no specific care that I’m aware of,” he said.Read more: Google Helps Place Ads on Sites Amplifying Covid ConspiraciesFacebook ResponseMonika Bickert, Facebook’s head of product policy and counterterrorism, was also questioned about the company’s response to an aggressive post made by U.S. President Donald Trump concerning his response to the civil unrest that has swept across the country. Bickert said she wasn’t aware of an open letter published by the New York Times from dozens of former Facebook employees this week. The employees were angry the social network hadn’t followed Twitter’s example of removing the post made by Trump.“It’s a shocking indictment from a number of quite senior former employees,” lawmaker Kevin Brennan told Bickert in the hearing. “To me, it feels like there’s something rotten in the state of Facebook, but am I wrong?”“I haven’t seen the letter,” Bickert said, but added that Facebook’s decision not to remove the President’s message was because it “did not violate” the company’s “long-standing policies.”Deleted PostsGoogle, Twitter and Facebook have all said in the past that tackling the spread of misinformation on their platforms was a priority. Twitter, for instance, has hidden or deleted posts that contain what it determined potentially harmful information. Google includes links to the World Health Organization at the top of search results for information about the virus.Part of the research by the U.K. committee highlighted a statement from Duncan Maru, an epidemiologist and physician based in Nepal, who said his colleagues had treated patients suffering from consuming disinfectants “after reading online that this was a way to cure Covid-19. We can’t be fighting lies and saving lives at the same time.” Read more: 5G Virus Conspiracy Theory Drives Phone Mast Attacks in U.K.And Meenakshi Bewtra, an assistant professor of medicine and epidemiology at the University of Pennsylvania, concluded similarly: “It is extremely difficult to be fighting both the global pandemic and the infodemic on social media,” she said. “I have personally been contacted by people who have spent money they do not have on ‘remedies’ or engaged in various practices that have no efficacy whatsoever.”The written statements, published by the U.K.’s Digital, Culture, Media and Sports committee on Thursday, will inform the questions the lawmakers ask tech companies at the hearing. It follows a similar hearing in April that followed the spread of a widely discredited conspiracy theory that 5G wireless technology is contributing to the Covid-19 pandemic.(Updated with additional context throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shares of eBay (NASDAQ: EBAY) are running nearly 7% higher on Thursday morning after the online marketplace raised its second-quarter earnings outlook on better-than-expected results during the COVID-19 pandemic. At the end of April, eBay expected to generate revenue between $2.38 billion to $2.48 billion in the second quarter, but now says it is doing significantly better than the forecast in its earnings release.
Regeneron (REGN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
eBay Inc. (EBAY) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front.
Cloudera's (CLDR) first-quarter fiscal 2021 results reflect rapid adoption of its cloud-based products and services and efficient cost management.
(Bloomberg) -- EBay Inc. raised its forecast for revenue and earnings in the current quarter as people flock to the online marketplace amid the Covid-19 pandemic that has left most physical stores shuttered for more than two months.EBay said it now expects sales of as much as $2.8 billion in the second quarter, up from a previous forecast for as much as $2.48 billion. In a filing the company said it sees adjusted earnings per share of as much as $1.06, up from 80 cents previously.More people are being drawn to EBay’s marketplace across a wide variety of categories, from home and garden to electronics, fashion and auto parts, EBay said. The site has seen about 6 million new and reactivated buyers added in April and May. Tens of thousands of small-business sellers have also flocked to the platform since March. Shares in the San Jose, California-based company jumped as much as 12%, hitting an intraday high of $51.88. The stock has gained 38% this year.EBay earlier this year named former Walmart Inc. executive Jamie Iannoneas chief executive officer. Activist investors Elliott Management Corp. and Starboard Value have been pushing EBay to increase profitability by selling pieces of itself following years of stagnation in its core marketplace business.The company in February completed the sale of its event-tickets marketplace StubHub to Viagogo for $4.05 billion and is exploring options for the classifieds business. EBay is also trying to boost revenue from its advertising and payments businesses. In the statement, EBay said revenue from its classifieds business is at the high end of its previously disclosed expectations, with automotive subscription revenue recovering as dealerships reopen across international markets.To further engage new buyers, EBay is making additional investments in marketing and technology to keep people coming back and buying on the site more often.EBay didn’t update its full-year guidance at this time, but said it will likely be above previously announced ranges. In April, the company said it expects 2020 revenue of as much as $9.76 billion and adjusted earnings per share of as much as $3.10Taking a step to address the wave of protests over racial injustice sweeping the U.S. in the past week, EBay said it is making a donation of more than $1.3 million, split between the NAACP Legal Defense Fund and the Equal Justice Initiative.(Updates with shares in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The New York Times (NYSE: NYT) outperformed a rallying stock market last month. Shares rose 11% in May compared to a 4.5% increase in the S&P 500, according to data provided by S&P Global Market Intelligence.
(Bloomberg Opinion) -- Euphemisms allow us to avoid confronting the cold, hard truth. Their ambiguity makes the terrible seem merely bad and the bad seem almost OK. It is a softening of subjective reality that allows us to happily live in deluded denial. This isn't a great strategy for relationships, for careers and, especially, for investors.Consider that we no longer have car crashes that kill more than 40,000 Americans a year. Instead, we have “accidents” caused by inattentive, reckless or -- to use a euphemism --impaired drivers. Companies don’t fire thousands of employees at a time, driving the unemployment rate higher; they downsize or, even worse, right-size. Even the word euphemism is itself a euphemism. It is a lie designed to hide an ugly truth from ourselves. “Banana” was an infamous economic euphemism during the 1970s. Alfred Kahn, then chairman of the Council on Wage and Price Stability, was told never to use the word “depression” or even "recession" when speaking at the White House or in public. To warn of potential economic trouble, he discussed "the worst banana you ever saw."As it turns out, refusing to use the word “recession” was a poor political strategy for Kahn’s boss, President Jimmy Carter. He lost his re-election bid in a landslide. Or perhaps it goes down easier to note that Carter “came in second” due to a “kumquat.”(1)Euphemisms don't help us make better decisions or confront challenges directly. As reported by Bloomberg News and the New York Times, the skyrocketing use of the word “unprecedented” during quarterly earnings conference calls serves as a reminder. We all understand the extent of lockdown orders, with second-quarter gross domestic product cut in half. But here's the issue: Investors don't expect management to be clairvoyant, but they do expect them to have plans for when disaster strikes and to execute that plan when necessary. This leads to three basic questions investors should ask corporate management:No. 1. What did you do to prepare for this sort of event?No. 2. How are you managing in the crisis?No. 3. What are your plans for the post-pandemic future?Some companies are much better situated by dint of their business model than others. Netflix Inc. is a natural winner in an era of sheltering at home. But entertainment giant Walt Disney Co., with its theme parks and theatrical films, was badly hit by the pandemic. It also had the foresight to diversify from those “live” businesses, with new services such as the Disney+ streaming service, which now has more than 55 million paying subscribers. Unprecedented events did not derail it from planning for home entertainment and executing that plan. Other live entertainment companies such as Live Nation Entertainment Inc., Madison Square Garden Entertainment Corp. or Six Flags Entertainment Corp. were not as prescient. Consider retail companies such as Amazon.com Inc., Target Corp. and Walmart Inc. -- all have done an excellent job executing a so-called last-mile strategy. Other retailers selling essentials to the same customers have not. Investors judge these managements, in part, by how they respond to a crisis like Covid-19. This particular event never happened before, but shareholders still want to know how corporate chiefs plan on managing it.The overemphasis on "unprecedented" deserves attention because it's so trite. Novel, first-time events occur with startling regularity. The normal state of human affairs has been persistent and unprecedented change. It isn't just the global health risks of this moment; it is true in every sphere of human endeavor. The default setting of humanity is to create new ideas, innovations, concepts, business models, technologies and solutions.Under the best of circumstances, we have limited “visibility” -- another euphemism -- about almost everything. Consider corporate revenues and profits. Look how often companies update, amend and revise quarterly earnings “guidance” -- one more euphemism, this one for "forecast." Yes, these forecasts become more accurate as the end of a quarter approaches, but that's only because more hard data has accumulated. In the end, it only comes down to informed guesswork.These may be unprecedented times, but they are not really out of the ordinary. Uncertainty always rules, and no one ever knows the future. For that reasons, no one really knows or even has a good sense of when the economy will recover, how many will die and when the pandemic will be over. Pretending otherwise with euphemisms does not make it any less so.Just remember that there is exactly the same amount of uncertainty now about the future as there always is. During times of crisis, you simply lose the ability to fool yourself about it.(1) When the United Fruit Co., a large banana producer, objected to the use of the word “banana,” Kahn shifted his choice of euphemism to "kumquat.” Really.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The COVID-19 pandemic and the resulting work-from-home trend have accelerated the growth of the video game industry in the last few months. Companies are seeing more players join the gaming fold, and with advancements in graphics technology on the horizon with the new consoles coming this fall from Sony and Microsoft, now is a good time to consider adding a few top video game stocks to your nest egg. CEO Bobby Kotick has guided Activision Blizzard (NASDAQ: ATVI) to market-beating returns since taking over in the early 1990s.
A pickup in consumer and business activities has put in limelight a couple of electronic payment companies.
(Bloomberg Opinion) -- Republican Senator Tom Cotton of Arkansas launched his 2024 presidential campaign yesterday. His op-ed in the New York Times has created a blizzard of protest both within the nation’s most elite liberal newspaper (for publishing it) and beyond (for what it says). Both debates are valid. However, his column is best understood as a marker: Cotton is laying down a stake on a future debate, not one in the present. Titled “Send In the Troops,” the column does indeed say that “it’s past time to support local law enforcement with federal authority.” Federal troops are necessary to crack down on the “anarchy” unleashed by “cadres of left-wing radicals,” Cotton writes. (No, he doesn’t bother with the nuisance of proving such “cadres” exist.) Only military force can smash the looters and rampaging criminals, who include “the thrill-seeking rich as well as other criminal elements.”The essay is a demagogic hash, as greasy as the bacon Senator Ted Cruz once cooked on the muzzle of an AR-15. But if you’re a precocious right-wing senator with a strong attachment to personal advancement and a weak one to pluralistic democracy, then you might view Cotton’s piece as pretty smart. If President Donald Trump is re-elected in November, or somehow manages to retain power without the benefit of election, Cotton’s hysterics will be completely forgotten. No harm, no foul. But if Trump is defeated, the battle for the 2024 nomination will begin immediately, and Cotton will have a message that resonates across the plains and valleys of racial and cultural resentment that define the Republican base: “Who lost Washington?”This is not a new or original message. It hearkens all the way back to the communist hysteria of “Who Lost China?” after World War II. But it’s a crowd-pleaser, especially among Republican base voters who find Trump’s destruction of democratic norms and constitutional niceties one of his most appealing traits. The party’s core voters chose Trump because they want someone to smite their enemies, not cooperate with them. Polls show Republican voters are not interested in compromise. Study after study documents the racial and cultural resentments that power this lust for political and cultural conquest.If you’re tired of the “feckless” politicians of urban America and the “elites” who “have excused this orgy of violence in the spirit of radical chic,” Cotton is offering you a blueprint to own the libs once and for all. He won’t merely send officers deploying rubber bullets, batons, flash-bangs and pepper balls (tear gas) to disperse a peaceful crowd exercising its First Amendment rights of assembly and petition, as U.S. Attorney General William Barr did this week in Washington. Cotton will impose a hostile occupation of cosmopolitan America. More important, Cotton is first to brand the assault as his idea. Whether Cotton actually believes his authoritarian dream is practical (let alone necessary) is beside the point. It’s the message that matters, and the message, circa 2021, goes something like this: If only we’d cracked down harder on those liberal cities — and the omnipresent Antifa that you’ve heard so much about on Fox News — then we could’ve saved America from the horrors of Democratic rule.Donald Trump, in the end, may simply prove too weak to meet the threat posed by a diversifying country. Republican voters may discover that a merely thuggish president is not sufficient for the task they have in mind. They need a competently thuggish one, someone willing to go even further than Trump, yet without the flailing and chaos that has undermined the MAGA cause. Tom Cotton just made a pitch for their votes in 2024. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Francis Wilkinson writes editorials on politics and U.S. domestic policy for Bloomberg Opinion. He was executive editor of the Week. He was previously a writer for Rolling Stone, a communications consultant and a political media strategist.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The addition of Peak significantly increases its daily active users and ability to grow internationally.
Good afternoon, my name is Oren and I will be your conference operator today and welcome to the Cloudera First Quarter Fiscal 2021 Quarterly Results Conference Call. During the course of this call, we will make forward-looking statements regarding future events and the future financial performance of the company.
Cloudera, Inc. (CLDR) delivered earnings and revenue surprises of 400.00% and 3.39%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Shares of Cloudera (NYSE: CLDR) have jumped today, up by 10% as of 3 p.m. EDT, after receiving an upgrade from Wall Street. Morgan Stanley boosted its rating on Cloudera from equal weight (equivalent to a neutral) to overweight (equivalent to a buy), and analyst Sanjit Singh increased his price target from $8 to $14. The business is starting to stabilize following its merger with Hortonworks, which closed in January 2019, and the company can now focus on product development.
The best offices have meditation rooms and gourmet lunches. A high-end apartment building might have a dog park. But tenants and building owners have a new priority amenity: clean air.