Snap Sees Consensus Target Slammed Down To $20 Following Q2 Results
Snap Inc. (NYSE: SNAP) this morning reported its second quarter financial results. The company announced that revenues grew only 13% on a year-over-year basis to $1.11 billion, while all other underlying results deteriorated on a year-over-year basis. The company reported an operating loss of $400.9 million, doubling the loss from last year, while net losses […]
NG Energy: Canaccord Initiates Coverage With $1.40 Price Target
Last week Canaccord Genuity Capital Markets’ initiated coverage on NG Energy (TSXV: GASX) with a speculative buy rating and a C$1.40 price target, representing an upside of 40%. Canaccord becomes the second shop to provide coverage on NG Energy, the other being Beacon Securities with a C$2.80 12-month price target. First, Canaccord says that the […]
US Jobless Claims Soaring Once Again: Is a Recession Closer Than It Appears?
The number of Americans filing for first time unemployment benefits is on the rise again, suggesting that what appeared to be a robust labour market may be crumbling under the weight of inflation, rising interest rates, and subsequently, a looming recession. Latest data from the Labour Department shows that initial jobless claims for the week […]
“Outage” Once More: Rogers CTO Out Following Service Blackout
When a company makes a huge mistake, the brunt of the fault usually falls on one person. For Rogers Communications (TSX: RCI.B), the ax fell on its Chief Technology and Information Officer Jorge Fernandes. “Rogers can confirm Jorge Fernandes will be stepping step down from his role as Chief Technology and Information Officer. Effective immediately, […]
Biogen Pays $900 Million To Settle Kickback Lawsuit
Biogen, Inc (NASDAQ: BIIB) has reached a US$900 million deal to resolve a long-running whistleblower lawsuit concerning its multiple sclerosis drugs, the company said in its quarterly earnings report on Wednesday. The lawsuit, which was filed in 2015 by a former employee, alleges that the Massachusettes-based biotechnology company paid kickbacks to doctors to amp up […]
CGX Energy Loses Majority Interest In Corentyne Block In Attempt To Fund Exploration
In an attempt to fund its exploration, CGX Energy (TSXV: OYL) has given up majority ownership on its flagship asset. This follows the company last month announcing that it was going all-in on the project, and abandoning its exploration efforts elsewhere. The arrangement will see the company amend a joint operating agreement currently in place […]
Great Panther Completes Share Consolidation, Still Falls Short Of NYSE Pricing Requirements
Great Panther Mining (TSX: GPR) last night announced the completion of its previously announced share consolidation. In one of the more embarrassing moves by a public company as of late, the consolidation appears to have been rather ineffective for its original intended goal. The move to consolidate its common shares was the result of the […]
Twitter: Analysts Call For $1.31 Billion In Q2 Revenue
Twitter (NYSE: TWTR) will be reporting its second quarter financial results on July 22 before the market open. Analysts have a consensus $45.84 12-month price target on the company, via a total of 37 analysts, with one analyst having a strong buy rating. Two analysts meanwhile have buy ratings, 32 have hold ratings, while two […]
Teachers’ Union Voted To Divest US$255 Billion Of Retirement Fund Away From Coal, Oil & Gas As Energy Prices Soar
As energy prices continue to soar, some energy companies are expected to feel the symbolic move of an American teachers’ union demanding its retirement fund be divested away from coal, oil, and gas investments. The American Federation of Teachers (AFT) has voted for a resolution urging the Teachers Insurance and Annuity Association (TIAA)–which manages retirement […]
The STAMP That Put Bank Of Montreal In BCSC’s Crosshairs
The British Columbia Securities and Exchange Commission (BCSC) has reprimanded the Bank of Montreal for failing to oversee its former employee’s misuse of the bank’s signature guarantee program. The commission identified that a former Bank of Montreal employee engaged in conduct that was “contrary to the public interest.” From 2013 to 2017, the now-retired employee […]