DraftKings Reportedly Bids For U.K. Sports Gambling Firm, Underscoring Firms Extended Valuation
As a sign of the froth in the stock market, last week DraftKings Inc. (NASDAQ: DKNG), a U.S. online betting company with an annualized revenue run rate of about US$1.2 billion and an annualized EBITDA loss rate of ~US$380 million, reportedly bid US$22 billion for the British gambling firm Entain plc. This bid for Entain represented […]
Hackers Stole crypto Funds From 6,000 Coinbase Customers Using Two-Factor Authentication Flaw
Cyber criminals have stolen crypto funds from at least 6,000 Coinbase customers, after exploiting a glitch in the the exchange’s two-factor authentication system. According to technology news website Bleeping Computer, Coinbase revealed that 6,000 of its customers had crypto funds stolen between March and May of this year, after hackers gained access to customer accounts […]
China Evergrande Group: The Crisis, Explained.
Evergrande. That topic you’ve heard about endlessly over the past weeks, yet haven’t taken the time to sit down and actually understand. But your in luck. We’ve collectively read, watched, and listen to over 100 articles on the crisis, so you don’t have to. The events ongoing in China are significant, so its worth the […]
Nike: BMO Lowers Price Target To $170 Following Q1 Results
Earlier this week, Nike Inc (NYSE: NIKE) reported its fiscal first quarter of 2022. The company reported revenues of $12.2 billion, up 16% year over year. NIKE Direct sales came in at $4.7 billion for the quarter, up 28% while their digital brand sales increased 29%. The company reported gross margins of 46.5% higher than […]
Canada’s Economic Output Recovers During the Summer Amid Business Reopenings
Canada’s GDP showed signs of a modest rebound during the summer, as the lifting of Covid-19 restrictions prompted consumers to embark on spending in the services sector. Following an increase of 0.6% in June, Canada’s economic output slumped 0.1% in July against forecasts of a 0.2% decline, bringing total economic activity just 2% below pre-pandemic […]
Salesforce: BMO Lifts Target To $335
On September 23, Salesforce.com (NYSE: CRM) announced that they are raising their fiscal full-year 2022 guidance and introduced the fiscal year 2023 guidance. Salesforce now expects fiscal 2022 revenues to come in between $26.25 billion and $26.35 billion. They are also guiding for $31.65 billion to $31.80 billion in revenue for 2023. The operating margin […]
Robinhood: Did Their President Trade On Non Public Information?
Today we chat about how Robinhood Markets (NASDAQ: HOOD) President Jim Swartwout, who was potentially trading on non-public material information. In a class-action lawsuit filed against the company, we find out that Swartwout sold all of his AMC prior to announcing the PCO (position closing only), meaning he knew the stock was about to drop, […]
NIO Delivers 24,439 Electric Vehicles In Q3 2021
Chinese smart electric vehicle company NIO Inc. (NYSE: NIO) reported today that it has delivered a total of 24,439 electric vehicles in the three months ended September 2021. The company relayed that this is a 100.2% year-on-year increase in deliveries. The automaker was able to deliver 10,628 vehicles globally in September 2021 alone, an “all-time […]
Starbucks: BMO Remains Bullish With $140 Price Target
On September 25, BMO issued a note on Starbucks (NASDAQ: SBUX) titled “U.S. Store Base Undergoes Its Own Social Distancing.” Within, they reiterate their $140 12-month price target and outperform rating. This comes after they updated their Starbuck’ U.S store overlap, “and found its Trade Area Transformation program has created a meaningful reset lower of […]
Endeavour Mining Offers $500 Million Senior Notes, Secures $500 Million Revolving Credit
Endeavour Mining (TSX: EDV) this morning announced the launch of its senior notes offering. The firm is issuing fixed-rate senior notes due 2026 with a total principal amount of $500 million. The gold producer said the proceeds from the senior notes offering will be primarily used to repay its $370 million bridge term loan facility which […]