Jeff Bezos’ Spacecraft-Bid Lawsuit Rejected, Watchdog Attests NASA’s Choice of SpaceX for Moon Mission
Even if you are the world’s richest person, you can’t always get what you want. That is was billionaire Jeff Bezos learned Friday, after the US Government Accountability Office (GAO) rejected Blue Origin’s lawsuit against NASA’s decision to award a $2.89 billion contract solely to Elon Musk’s SpaceX. According to a statement by the GAO, […]
Apple: Consensus Price Target Climbs To $163 Following Q3 Results
Earlier this week, Apple (NASDAQ: AAPL) reported their fiscal third-quarter results. The companies top-line revenue came in at $81.43 billion, growing 36.4% year over year and beating even the street-high estimate. The company’s gross profit came in at $35.25 billion, growing 55.4% year over year. Gross margins were 43.4% for the quarter and operating margin […]
Elon Musk’s Neuralink Raises $205 Million Towards Accelerating Brain Implant Technology
Neuralink, a brain implant interface company founded by Elon Musk, has raised over $200 million in a new funding round, which is expected to help the futuristic company create brain implants for individuals with neurological disorders. According to a blog post published Thursday, Neuralink has revealed that Vy Capital, a venture company based out of […]
Microsoft: BMO Raises Price Target To $325 After Strong Earnings
Earlier this week, Microsoft (NASDAQ: MSFT) reported its fiscal fourth-quarter results. The company reported $46.15 billion in top-line revenue, smashing even the highest analyst estimate. Microsoft grew revenues at 21.3% year over year while their gross profit grew 25.2% year over year to $32.161 billion. Gross margin came in at 69.7% while operating margin came […]
Binance to Exit Futures and Derivatives Business in Europe Amid Ongoing Regulatory Scrutiny
Binance, the world’s largest cryptocurrency exchange, has announced it will discontinue its futures and derivatives business in Europe, as the ongoing crackdown from global regulators gains momentum. According to a twitter statement published on Friday, Binance will no longer allow its users in Italy, Germany, and the Netherlands to create new accounts for futures and […]
Magna: Mixed Opinions From Analysts Following Veoneer Announcement
On July 22nd, Magna International (TSX: MG) announced that they would be acquiring Veoneer for $31.25 per share for a total purchase price of $3.8 billion. The deal will create a leader in ADAS with pro-forma sales equaling to $1.2 billion, it will add engineering and software expertise to Magna. After the news, CFRA and […]
US Home Prices Skyrocket by Most On Record In May
Home prices across the US catapulted by the most on records dating back 33 years, significantly outpacing expectations and further fuelling concerns that inflation is anything but transitory. According to the latest S&P CoreLogic Case-Shiller index reading, home prices across the country skyrocketed by a staggering 16.61% year-over-year in May, marking the sharpest increase in […]
Lordstown Motors Reaches Constructive Financing Agreement For Outside Capital; Investors Shrug
On July 26, Lordstown Motors Corp. (NASDAQ: RIDE) announced that a hedge fund based in the U.S. state of New Jersey, YA II PN, LTD., had agreed to purchase up to US$400 million of newly issued Lordstown stock over a three-year period. The YA purchases will be made from time to time over that period […]
Shopify: Canaccord Raises Price Target To $1,450 Off Back Of Strong Earnings
Shopify (NYSE: SHOP) reported second-quarter financials on July 28th. The company is keeping the US tech earnings beat train going, topping the analyst consensus for the quarter but came in just short of the street high estimate of $1.13 billion. The company reported revenues of $1.12 billion, growing revenues 56.7% year over year. Their gross […]
US Pending Home Sales Unexpectedly Plummet in June Amid Surging Prices
Pending home sales across the US unexpectedly nosedived in June, as soaring property prices left an increasing number of potential homebuyers out of the real estate market. The National Association of Realtors’ (NAR) index of pending home sales fell 1.9% last month, despite a consensus among economists polled by Bloomberg calling for an unchanged reading. […]