Despite yet again topping quarterly earnings expectations, Zoom Video Communications saw its stock fall 15.4% on Tuesday amid signs that the company’s astronomical growth rate could finally slow down. The drop in the share price pushed Zoom founder Eric Yuan’s fortune down by $3.2 billion, to $17.8 billion as of 3:10 p.m. ET on December 1, Forbes calculates. Zoom reported…
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Shares of electric carmaker Tesla are soaring after S&P Global announced Monday after the closing bell that it will add the firm to the S&P 500 Index on December 21. KEY FACTS - S&P said it will announce which company Tesla is replacing at a later date. - Shares of Palo Alto, Calif.-based Tesla were surging 13% in post-market trading at approximately 6:40 p.m. ET; shares are now…
Alibaba’s Singles’ Day, the world’s largest online shopping event held in China, was a blowout this year as it reported a record $74 billion in sales over 11 days, shedding the doldrums of the past few months that have seen both major and small retailers shut their doors and home-bound consumers flock to e-commerce in the midst of unprecedented pandemic lockdowns. KEY FACTS…
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Article first published in Forbes Monaco June/July 2020 issue. What should have been a record-breaking month for SBM turned out to be the biggest loss in turnover in the company’s 157-year history due to the Covid lockdown. Now the Group…
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As optimism on Wall Street grows about potential FDA approval for a coronavirus vaccine, here are six stocks that could make outsized gains and rebound on the news, according to experts from Stifel. KEY FACTS - Stifel analysts recently highlighted…
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Here are five big numbers that show Amazon AMZN -3.7%’s explosive growth during the pandemic which has hurt much of the retail world. $570 billion That’s how much Amazon’s market capitalization has gained so far…
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The U.K. economy shrank almost a fifth in the first three months of lockdown, mostly dragged down by a 20% fall in April, laying out the cost of shutting down entire industries in a bid to curb the pandemic, new data from the U.K.’s statistics…
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While reports of positive data from potential coronavirus treatments have helped propel the market higher in recent months, investors are far too optimistic about a vaccine and stocks shouldn’t be rallying so much on each bit of news,…
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Shares in beleaguered airplane maker Boeing Co. and Texas-based Southwest Airlines soared Monday as investors responded to multiple media reports that Boeing has received the green light from the Federal Aviation Administration to begin test…
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Chinese officials recently expressed “strong dissatisfaction” with U.S. sanctions that came in response to a new national security bill on Hong Kong, warning that crossing “red lines” and meddling in what China considers…
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Analysts from Morgan Stanley on Tuesday warned that Tesla stock, at over $1,000 per share, is grossly overvalued and set to plunge, with too many investors ignoring the risks of running a car company and instead treating Tesla like a high-growth…
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Latest statistics from the U.K.’s Office of National Statistics show the true cost of a full month of lockdown measures which led to the closure of all non-essential businesses. KEY FACTS - “April’s fall in GDP is the biggest…
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The stock market finished lower on Tuesday—although the Nasdaq Composite rallied to a new record high—a day after the S&P 500 turned positive for 2020 and fully recouped its losses from the selloff caused by the coronavirus…
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Wall Street rallied on Friday after a better-than-expected jobs report revealed that the United States added 2.5 million jobs in May–the largest such increase on record. The S&P 500 and Dow Jones Industrial Index ended the day up…
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The market fell sharply for most of Friday as investors braced for President Trump’s announcement regarding China, but despite new sanctions and penalties, stocks turned positive after the phase one trade deal was kept intact. KEY FACTS…
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China’s powerhouse economy was the first to feel the squeeze as the coronavirus pandemic took hold earlier this year, and the damage is likely to last for years to come. As top Chinese lawmakers gathered at the National People’s…
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The cruise industry has been rocked by the coronavirus shutdowns, but Credit Suisse is making a bold bet that the stocks of two major players will surge over 50% and lead the industry’s eventual recovery. KEY FACTS - The firm initiated…
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The Senate, by unanimous consent on Wednesday, passed legislation that would ban many Chinese companies from listing shares on U.S. stock exchanges or raising money from American investors, as tensions between the world’s two largest…
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