Month: May 2022
JetBlue launches hostile takeover bid for Spirit Airlines
LaGuardia International Airport Terminal A for JetBlue and Spirit Airlines in New York. Leslie Josephs | CNBC JetBlue Airways launched a hostile takeover bid of Spirit Airlines on Monday after that carrier turned down JetBlue’s $33 per share, all-cash offer earlier this month. JetBlue has said acquiring Spirit would give it access to a large […]
Read More
$3 billion in bitcoin was sold in a last-ditch attempt to save UST stablecoin from collapse
Bitcoin fell below the $26,000 level since December 2020. (Photo credit should read CFOTO/Future Publishing via Getty Images) CFOTO | Future Publishing via Getty Images Investors have been eager to find out what happened to the more than $3 billion in bitcoin bought up by crypto firm Terra to back its failed stablecoin. Now, they’ve […]
Read More
Bank of America says it’s time to buy this electric vehicle stock as sales improve
It’s time to bet again on shares of electric vehicle maker Nio , according to Bank of America. Analyst Ming Hsun Lee upgraded Nio to buy from neutral, citing better sales, improved margins during the second half of the year and an attractive valuation. “We like NIO for its (1) advantages in the premium smart […]
Read More
NATO is about to get bigger and Putin is unhappy: Here are 3 ways Moscow could react
Russian President Vladimir Putin leaves Red Square after the Victory Day military parade in central Moscow on May 9, 2022. Kirill Kudryavtsev | Afp | Getty Images With Finland and Sweden both announcing their bids to join the Western military alliance NATO, ending a decades-long history of military non-alignment, all eyes are on Russia and […]
Read More
DraftKings shares can more than double from here, Jefferies says
Shares of DraftKings are due for a comeback, especially as sports betting eyes legalization in California and beyond, Jefferies says. Analyst David Katz resumed coverage of the stock with a buy rating, citing shifting attitudes toward sports betting in North America. “While we recognize the marketing intensity exceeded our initial expectations, we maintain DKNG is […]
Read More
Stocks making the biggest moves in the premarket: Spirit Airlines, Carvana, Warby Parker and more
Take a look at some of the biggest movers in the premarket: Spirit Airlines (SAVE) – Spirit Airlines surged 19.3% in premarket trading after JetBlue (JBLU) launched a $30 per share tender offer for its rival airline. Spirit had rejected a prior bid by JetBlue, preferring to keep a previously struck deal to merge with […]
Read More
‘Londongrad’: How Russia’s war exposed the dark side of luxury London
Following Russia’s invasion of Ukraine, and resultant sanctions on President Putin’s oligarch elite, a spotlight has been firmly cast on the British capital and its complicity as a store for dirty money. When Russia mounted its war in Ukraine in February 2022, Britain was one of the first Western allies to impose sanctions on the […]
Read More
McDonald’s says it will sell its Russia business after previously pausing operations due to Ukraine war
A view shows a McDonald’s restaurant in Saint Petersburg, Russia March 8, 2022. Anton Vaganov | Reuters McDonald’s said Monday that it would sell its business in Russia, a little more than two months after it paused operations in the country due to its invasion of Ukraine. “The humanitarian crisis caused by the war in […]
Read More
UBS upgrades this regional bank, saying it’s trading at a heavy discount if there’s no recession
Investors looking for a cheap stock during this pullback should consider placing their bets on Citizens Financial Group , UBS says. “CFG, where market multiples at 1.2x 1Q22 TBV, 1.0x YE22 TBV, and 7.0x ’23E EPS imply that the stock is the closest to pricing in a recession in our regional universe,” analyst Erika Najarian […]
Read More
The co-founders of DeepMind and LinkedIn have raised $225 million for their A.I. lab
DeepMind co-founder Mustafa Suleyman Greylock Partners Inflection AI, the new artificial intelligence start-up from DeepMind co-founder Mustafa Suleyman and LinkedIn co-founder Reid Hoffman, has secured $225 million in funding, according to a filing with the U.S. Securities and Exchange Commission last week. The funding, first reported by TechCrunch, has been raised at an undisclosed valuation […]
Read More