Category: Stocks

  • Facebook Q3 earnings: profit beats estimates

    Surprise surprise, Facebook beats profit estimates. I was skeptical in this round considering Apple’s effort on privacy and I was wrong Looks like ads are still doing pretty well. Facebook reported mixed third quarter earnings on Monday, slightly missing revenue estimates but continuing to grow its user base in the face of multiple controversies that…

  • PayPal is exploring Pinterest acquisition

    San Jose, California-based PayPal has recently approached Pinterest about a potential deal, the people said, asking not to be identified because the talks are private. The companies have discussed a potential price of around $70 a share, the people said. Bloomberg Pinterest suffered user decline in the last year and I don’t think their management…

  • Facebook fined $69.6 million in the UK for Giphy takeover

    After Facebook acquired the popular GIF repository Giphy (reportedly for $400 million), the UK’s Competition and Markets Authority (CMA) launched an investigation to determine if the merger would lessen competition. As part of that probe, it said Facebook couldn’t continue with activities related to the merger (integrating products, merging teams and so on) without prior approval from…

  • WHO hired company to copy Moderna

    The World Health Organization has hired the company, called Afrigen Biologics and Vaccines, as part of a $100 million plan to figure out how to make an mRNA vaccine against COVID that is as close as possible to the version produced by Moderna. As to why WHO has chosen to try to copy Moderna rather than…

  • Netflix adds 4.4 million membership

    Netflix Inc. added 4.4 million memberships in the third quarter and beats earning estimates. Netflix Inc. said it added more subscribers than it predicted in the latest quarter as profit and revenue rose thanks to the return of popular series and new hits. The Los Gatos, Calif.-based streaming company said third-quarter profit increased to $1.45…

  • DoorDash and Uber Eats is gaining on Grubhub

    DoorDash and Uber Eats is gaining on Grubhub

    On Wednesday, the new parent company of Grubhub, Amsterdam-based Just Eat Takeaway.com, TKWY 0.33% also known as Jet, provided a third-quarter trading update. While several countries showed stellar growth, Grubhub’s business looked disappointing, setting a negative tone ahead of third-quarter earnings for DoorDash DASH 0.61% and the Uber Eats unit of Uber Technologies. UBER -2.67%…

  • Uber completes Drizly acquisition

    Uber completes Drizly acquisition

    Uber Technologies, Inc. today announced that it has completed its acquisition of Drizly and that the two companies will begin integrating their complementary delivery apps and services. The purchase consideration was approximately $1.1 billion, consisting of approximately 18.7 million newly issued shares of Uber common stock plus cash. Uber On other new, cannabis marketplace Lantern…

  • This week’s earnings call

    On Monday (Oct 18) there’s: Albertsons Philips Steel Dynamics State Street On Tuesday (Oct 19): Halliburton Procter & Gamble Johnson & Johnson Philip Morris International WD-40 Netflix On Wednesday (Oct 20): Abbott Laboratories Biogen NextEra Energy Verizon Communications Tesla IBM Anthem On Thursday (Oct 21): Southwest Airlines Valero Energy Quest Diagnostics AT&T SL Green Realty…

  • The wealthiest 10% of Americans own a record 89% of all U.S. stocks

    What this translates to is the wealthiest 10% owning a huge stake in the US economy. The top 1% gained more than $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate…