BENOWITZ
Bitcoin ETFs test investor commitment to gold-backed paper
Spot bitcoin ETFs could offer investors looking to hedge against inflation an alternative to gold. ETFs track an index, commodities, bonds or a basket of assets like an index fund.
Birkenstock falls 14% as investors focus on profit warning in first post-IPO results
Birkenstock warned on Thursday annual earnings would come under pressure as the German footwear maker embarks on a global expansion, disappointing investors with its first results since its IPO and sending shares tumbling as much as 14%.
China's Shein files for US IPO in major test for investor appetite: Report
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the initial public offering (IPO), and Singapore-based Shein could launch its new share sale some time in 2024, the sources said.
China's fast-fashion retailer Shein files for US IPO - sources
Goldman Sachs, JPMorgan Chase and Morgan Stanley have been hired as lead underwriters on the offering, and Shein could go public sometime in 2024, the sources said.
Apple’s iPhone reveals are often a dip buyer’s dream
Over the past five years, September has been the worst month of the year for Apple, with the shares averaging a decline of 4.5%, compared with a drop of 3.2% for the S&P 500. At the same time, October has been among the best, with an average gain for Apple of 3.8% over the same period.
Elon Musk says he has found new Twitter CEO, set to take on CTO role
Elon Musk has hired a new CEO for Twitter, according to a tweet he sent on Thursday. However, he did not reveal the person’s identity. The Wall Street Journal suggested that Linda Yaccarino, a Comcast NBCUniversal executive, was in talks for the job, and unnamed sources suggested to Reuters that she could be Musk’s choice to lead the platform. Musk will become Twitter’s CTO, overseeing software, sysops and product, while remaining its executive chair. Last year, the Tesla CEO, who bought Twitter for $44bn last year, said he would step down as CEO after finding someone else to take over.
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Tech rally haunted by ‘palpable fear’ of chip industry weakness
Investors are concerned slowing orders that are already plaguing makers of memory chips and other components used in personal computers could spread to the rest of the semiconductor industry. Nothwithstanding the Nasdaq 100 Index’s 4% rebound this week, technology stocks
PayPal shares jump on Elliott's $2 bln stake, annual profit guidance raise
PayPal, which was among companies that won big during the pandemic, saw shares wipe out over 70% of their market value in a year as e-commerce growth retreated from pandemic-era records.
High fuel prices hurt - but not equally for Walmart and Target
Walmart stores are concentrated in states where gas and diesel prices are below the national average, like Texas and Florida, while Target stores skew toward high-cost states like California and New York.
Elon Musk sells nearly $7 billion worth of Tesla shares this week
The billionaire sold 1.2 million shares held by his trust for more than $1.2 billion on Friday, the latest in a flurry of his stock transactions, according to a US securities filing released later in the day.
Corporate buybacks gain steam with banks poised to boost buying
Banks are joining the party after buybacks rose sharply in the first three months of the year, capping several quarters of gains following a pandemic-related dip in 2020. The moves bode well for stocks since buybacks are a direct way to boost share prices and companies are flush with cash as the U.S. economy rebounds from a year of lockdowns.
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