By Peter Nurse — Stocks in focus in premarket trade on Monday, August 16th. Please refresh for updates.
Tesla (NASDAQ:TSLA) stock fell 1.9% after U.S. auto safety regulators announced they have opened a formal safety probe into the electric car manufacturer's driver assistance system Autopilot after identifying 11 crashes since January 2018. Sonos (NASDAQ:SONO) stock rose 9% after the wireless audio company won the first step of a legal battle with Alphabet’s Google (NASDAQ:GOOGL) when a U.S. trade judge found the search giant infringes five Sonos patents.
T-Mobile US (NASDAQ:TMUS) stock fell 0.4% following claims of an alleged massive data breach at the telecoms giant that may have compromised more than 100 million users.
Honest Company (NASDAQ:HNST) stock fell 2% after Morgan Stanley (NYSE:MS) downgraded its investment stance on Jessica Alba’s consumer goods company to ‘equal weight’ from ‘overweight’, citing the disappointing second quarter. Its stock fell over 28% on Friday.
Hyatt Hotels (NYSE:H) stock fell 0.1% after the hotel operator announced a deal to buy resort company Apple (NASDAQ:AAPL) Leisure Group from private-equity firms KKR and KSL Capital Partners for $2.7 billion in cash.
Chipotle (NYSE:CMG) stock fell 0.6% after Raymond James downgraded its stance on the Mexican food chain to ‘overweight’ from ‘strong buy’, saying its strong run means its valuation is getting full.
BHP Billiton (NYSE:BBL) ADR fell 2.4% after the miner announced it is in talks over a potential merger of its petroleum business with Woodside (OTC:WOPEY) Petroleum. The possibility of getting Woodside shares in return disappointed shareholders whose investment mandates won't let them hold fossil fuel companies.
Seagate (NASDAQ:STX) stock rose 0.8% after UBS upgraded its stance on the technology stock to ‘buy’ from ‘neutral’, saying it is emerging as a potential winner in the struggling semiconductor sector.
Coinbase Global (NASDAQ:COIN) stock rose 1.7% with the cryptocurrency exchange operator benefiting from the recent rise in value of the digital currencies. MicroStrategy (NASDAQ:MSTR) stock also climbed 2.2% as the business analytics company has invested heavily in bitcoin.
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Pearson, a London-based publishing and education giant that provides software to schools and universities has agreed to pay $1 million to settle charges that it misled investors about a 2018 data breach resulting in the theft of millions of student records. The U.S. Securities and Exchange Commission announced the settlement on Monday after the agency found that Pearson made “misleading statements and omissions” about its 2018 data breach, which saw millions of student usernames and scrambled passwords stolen, along with the administrator login credentials of 13,000 schools, district and university customer accounts. The agency said that in Person's semi-annual review filed in July 2019, the company referred to the incident as a “hypothetical risk,” even after the data breach had happened.
Chipotle Mexican Grill (NYSE: CMG) today announced it is increasing restaurant wages in Canada resulting in a $15 CAD minimum hourly rate in Ontario restaurants and $16 CAD minimum hourly rate in British Columbia restaurants. In addition to best-in-class benefits and a competitive hourly rate, Chipotle's crew members can advance to a Restaurateur, the highest General Manager position, in as little as three and a half years, with an average compensation of more than $100,000 CAD while leading a m
UBS boosted the price target on Seagate Technology Holdings plc (NASDAQ: STX) from $83 to $105. Seagate shares rose 0.8% to $91.05 in pre-market trading. Mizuho raised the price target for Intuit Inc. (NASDAQ: INTU) from $500 to $550. Intuit rose 0.8% to $544.80 in pre-market trading. Raymond James lifted Chipotle Mexican Grill, Inc. (NYSE: CMG) price target from $1,800 to $2,025. Chipotle shares fell 0.6% to $1,877.50 in pre-market trading. Telsey Advisory Group boosted the price target on The
U.S.-based digital media outlet Vice first reported the claims of a data breach on Sunday. According to the report in Vice's Motherboard, the forum's post does not mention T-Mobile, but the hacker told Vice they have obtained data of over 100 million people and that the data came from T-Mobile servers. Shares of T-Mobile were down 2.8% in afternoon trading.
U.S. stocks are seen opening lower Monday, falling back from the previous session’s record levels as rising Covid cases stunt the global economic recovery, particularly in China. At 7:05 AM ET (1105 GMT), the Dow Futures contract was down 100 points, or 0.3%, S&P 500 Futures traded 10 points, or 0.2%, lower, while Nasdaq 100 Futures dropped 35 points, or 0.2%. The blue-chip Dow Jones Industrial Average posted gains of 0.8% last week, closing at a record, while the S&P 500 finished Friday up 0.7% for the week, also notching its best-ever finish.
Dominic Schnider, head of commodities and Asia Pacific foreign exchange at UBS Global Wealth Management CIO Office, discusses the outlook for the dollar and Asian currencies. He also talks about the prospects for commodities including oil. gold and silver. He speaks with Yvonne Man and David Ingles on "Bloomberg Markets: Asia." (Source: Bloomberg)
Myles Udland breaks down Monday’s Morning Brief, which covers what the preliminary August Consumer Sentiment data says about the consumer, retail sales expectations, and much more.
Despite devastating the global economy and harming the health of millions, the COVID-19 pandemic prompted a boost in health care innovation. That’s according to David Whelan, CEO at BioscienceLA, to whom Benzinga spoke regarding opportunities in health and his organization’s role in bolstering innovation. Background: Whelan began his career in business after studying artificial intelligence at Stanford University. “I spent a couple of years working in biotech venture capital, a kind of family of
T-Mobile stock toppled Monday after a hacker reportedly claimed to be selling personal data from more than 100 million customers.
Volume and demand for non-fungible tokens have been surging. One project that is climbing up the leaderboards is PUNKS Comic, an NFT comic series drawn by Marvel and DC Comics artist Chris Wahl. A burning mechanism, new NFT launch and more items for PUNKS are attracting venture capitalists to the NFT. What Happened: Loup Ventures, a research-driven venture capitalist firm known for bullish calls on Tesla Inc (NASDAQ: TSLA), Apple Inc (NASDAQ: AAPL) and other technology stocks shared thoughts on
Clarivate Plc’s (NYSE: CLVT) turnaround strategies are likely to lead to accelerated growth and more consistent performance, according to BofA Securities. The Clarivate Analyst: David Chu initiated coverage of Clarivate with a Buy rating and $28 price target. The Clarivate Takeaways: The company’s shares are trading at a discount of around 25% to information services peers, Chu said in the initiation note. This discount will narrow as Clarivate delivers its targets of 6%-8% organic revenue growt
Yahoo Finance’s Myles Udland, Julie Hyman and Brian Sozzi discuss the crisis in Afghanistan with Yahoo News Contributor Michael Isikoff.
It’s a shopping extravaganza this week as retailers line up to report. The fun starts tomorrow when Walmart (NYSE: WMT) steps to the plate. Before that, the focus this morning appears to be on the Fed, China, and Afghanistan. Data showed the Chinese economy growing a little slower than analysts had expected, which is one factor putting pressure on crude this morning. China’s factory output and retail sales growth slowed sharply in July, Reuters reported, as new Covid outbreaks and floods disrupt
Wheeler Real Estate Investment Trust, Inc. (the “Company”) (NASDAQ: WHLR) today announced that its previously announced rights offering to stockholders (the “Rights Offering”) expired at 5:00 p.m.,…
Shares of Moderna (NASDAQ: MRNA), BioNTech (NASDAQ: BNTX), and Novavax (NASDAQ: NVAX) fell 4%, 9%, and 11%, respectively, on Monday, as investors rotated out of the previously high-flying vaccine stocks. Moderna, BioNTech, and Novavax, in turn, have delivered torrid gains to their shareholders in recent months.
As of 2:50 p.m. EDT, Paysafe's stock price was down more than 15%. Paysafe's revenue rose 13% year over year to $384.3 million, fueled by a 41% surge in total payment volume, to $32.3 billion. "We are pleased with the continued momentum Paysafe exhibited over the second quarter with impressive growth and several key wins across iGaming and other attractive digital commerce verticals, including crypto," CEO Philip McHugh said in a press release.
Amid Beijing crackdowns on U.S.-listed China companies, here are the best Chinese stocks now.
Shares of Nvidia (NASDAQ: NVDA) were sliding this morning after Credit Suisse analyst John Pitzer reiterated his outperform rating for Nvidia's stock and said that he's concerned about near-term volatility from the stock because of a slowdown in the cryptocurrency market. Investors weren't happy to hear that Pitzer thinks that a slowdown in crypto could affect Nvidia in the short term.
China is home to the world's second-largest economy, and internet company Alibaba Group Holding Limited (NYSE: BABA) is one of China's most dominant businesses. Down more than 20% over the past year, Alibaba could prove to be a bargain for patient investors if they can look past a major red flag. Here are three reasons to buy Alibaba and one reason to sell it.
Shares of edge computing specialist Fastly (NYSE: FSLY), telehealth company Teladoc Health (NYSE: TDOC), and insurer Lemonade (NYSE: LMND) all took a hit on Monday. As of 11:05 a.m. EDT, shares of these three companies were down 4.9%, 4.1%, and 1.7%, respectively. The three companies' shares were likely primarily down because of an overall bearish day in the market.


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