Category: Stocks

  • Adobe Abandons $20 Billion Figma Deal

    Adobe Abandons $20 Billion Figma Deal

    Adobe’s $20 billion acquisition of Figma was halted due to regulatory challenges in Europe and the UK, with concerns about potential harm to innovation and competition. Adobe will pay Figma a $1 billion termination fee. Figma, expanding and profitable, could attract IPO interest. The deal’s cancellation reflects increased regulatory scrutiny on tech mergers, potentially affecting…

  • Epic Games wins Google

    Epic Games wins Google

    In a landmark decision, Epic Games triumphed over Google in a recent antitrust lawsuit, marking a significant moment in the ongoing debate over Big Tech’s dominance. This case, contrasting sharply with Epic’s earlier loss to Apple, highlights the nuanced legal landscape surrounding tech giants and their control over digital marketplaces. The jury found Google guilty…

  • Alaska Air Group acquires Hawaiian Airlines

    Alaska Air Group has announced a significant acquisition of Hawaiian Airlines for $1.9 billion. This deal, which includes taking on $900 million of Hawaiian’s debt, represents a major shift in the airline industry, marking the second proposed merger in less than two years. Hawaiian Airlines, facing multiple challenges including competition from Southwest and a slow…

  • Uber to join S&P 500

    Uber to join S&P 500

    Uber has made a significant leap in the financial world by joining the prestigious S&P 500, as announced on December 1, 2023. This inclusion marks a notable achievement for the ride-hailing company, reflecting its solid financial performance and growing market presence. Uber’s journey to the S&P 500 was fueled by its positive earnings in the…

  • Meituan not buying Foodpanda after all

    Meituan not buying Foodpanda after all

    Reported by Business Times, Meituan’s recent announcement of not pursuing the acquisition of foodpanda has come as a significant relief for Grab. This decision by the Chinese food delivery giant has lifted a major concern for Grab’s stock prices. Rumors had circulated that Meituan, a leader in China’s food delivery sector, might acquire foodpanda. These…

  • Grab Achieves Profit on Adjusted Basis

    Grab Achieves Profit on Adjusted Basis

    Grab has hit a significant financial milestone. For the first time since its inception in 2012, Grab has reported a profit on an adjusted basis, a promising development for investors concerned about the company’s profitability. In the quarter ending September, Grab posted an adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $29 million,…

  • Shein Targets $90 Billion Valuation in Upcoming IPO

    Shein, the Singapore-based fast fashion giant, is setting its sights high for its U.S. initial public offering (IPO), targeting a valuation between $80 billion and $90 billion, as reported by Bloomberg. This ambitious valuation marks a significant increase from its $64 billion valuation earlier this year and slightly below its peak valuation of $100 billion…

  • WeWork Chapter 11 bankruptcy

    In a striking turn of events, WeWork, once a darling of the corporate real estate world, has filed for Chapter 11 bankruptcy protection in New Jersey. This move, as stated in their recent press release, is limited to their operations in the U.S. and Canada. With liabilities soaring between $10 billion to $50 billion, the…

  • Changes at Lyft Board

    Changes at Lyft Board

    Lyft announced significant changes to its board of directors last Friday. Mary Agnes Wilderotter and Valerie Jarrett resigned due to “other professional responsibilities.” The company was quick to clarify that the resignations were not due to any disagreements regarding Lyft’s operations or policies. In their place, the board appointed Prashant Aggarwal as chair of the…

  • Lyft Fined $10 Million Over Icahn-Soros Deal

    Lyft Fined $10 Million Over Icahn-Soros Deal

    Lyft Inc. has settled a $10 million fine with the SEC for not disclosing a board director’s role in a share sale involving billionaires Carl Icahn and George Soros, just before the company’s 2019 IPO. The director, identified as Jonathan Christodoro, helped Icahn sell a 2.6% stake in Lyft to Soros at a discounted rate.…

  • Tesla’s Q3 Vehicle Numbers Fell Short

    Tesla has long been the industry leader when it comes to electric vehicles (EVs), constantly setting the bar high for competitors. Their Q3 2023 vehicle production and delivery report offers valuable insights into the company’s performance and strategic moves. Here, we’ll break down the numbers and what they imply for Tesla and the broader EV…

  • Elon Musk agrees to buy Twitter

    Major day for Twitter shareholders, Elon Musk agrees to purchase Twitter at the premium price of $54.20. Twitter shares surge 22% after Elon Musk revives deal to buy company at original price Tesla CEO Elon Musk changed course and agreed to buy Twitter for the agreed upon price, according to a filing on Tuesday. The…