14 May

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Wall Street Opens Higher as Retail Sales Fail to Frighten; Dow up 220 Pts By Investing.com

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By Geoffrey Smith Investing.com -- U.S. stock markets surged at the opening on Friday, as a fresh wave of optimism over economic reopening overcame fears of inflation and consequently a withdrawal of monetary stimulus. Fears of the economy overheating against a backdrop of production bottlenecks and labor shortages appeared to recede after a series of Federal Reserve speakers in the course of the week reiterated that the rise in inflationary pressures - visible in surging commodity prices and April's consumer inflation report - will not last beyond the end of the year. April's retail sales data,...

14 May

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DoorDash Pops As Record Orders Drive Guidance Higher By Investing.com

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By Dhirendra Tripathi Investing.com – DoorDash (NYSE:DASH) shares jumped nearly 14% Friday after the company raised its guidance for 2021 on the back of a strong first quarter performance. The online food delivery platform said it generated more earnings for its partners than in any previous quarter and served more consumers than it ever has. The online food delivery platform now expects its 2021 gross order value to be in a range of $35 billion to $38 billion. This range was earlier estimated to be $30 billion to $33 billion. Adjusted EBITDA could now touch $300...

14 May

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Snowflake a Buy on Generational Shift to the Cloud: Goldman By Investing.com

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By Dhirendra Tripathi Investing.com – Snowflake (NYSE:SNOW) shares rose more than 8% Friday after Goldman Sachs (NYSE:GS) raised its rating to buy. Analyst Kash Rangan also raised the price target to $275 per share from $270. That’s a near 35% hike from the stock’s current level of $204. Rangan pointed out that the stock has more than halved since its peak in December, calling it a chance to snap up an undervalued name. The analyst said the cloud-based data warehousing company has a strong competitive positioning and expects it to capitalize on a “generational shift” of...

14 May

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Facebook data transfer ruling from Irish court due Friday By Reuters

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DUBLIN (Reuters) - Ireland's High Court was due to decide on Friday whether the data regulator should proceed with a provisional order to halt Facebook (NASDAQ:FB) user data transfers to the United States from the European Union. Ireland's Data Protection Commission, the EU's lead regulator for Facebook, issued the order last August after Europe's highest court ruled that a transatlantic data transfer framework known as Privacy Shield was invalid. Facebook called for a judicial review of the commission's decision, saying it threatened "devastating" and "irreversible" consequences for its business, which relies on processing user data to...

14 May

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Airbnb Weaker As Results Show Recovery Eluding Two Key Segments Still By Investing.com

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By Dhirendra Tripathi Investing.com – Airbnb (NASDAQ:ABNB) shares were down 1% in Friday’s premarket as its March quarter performance showed that recovery in two key segments of the company’s business, urban travel and cross-border travel, is still elusive. Also weighing was the fact that the company’s net loss more than tripled to $1.17 billion from $341 million in March quarter of 2020. The two are the strongest segments for the company historically and, a blow-out quarter notwithstanding, their slow recovery weighed on the sentiment. It prompted a few brokerages to lower their targets for the stock...

14 May

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Cheerios Maker General Mills Makes $1.2 Billion Bet on Pets By Bloomberg

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(Bloomberg) -- Cereal giant General Mills Inc (NYSE:GIS). continued its push into what it calls the “humanization of pets” with a $1.2 billion deal to buy a division from Tyson Foods Inc (NYSE:TSN). that sells treats under brands like Nudges and Top Chews. The division, started in 2011, tallied more than $240 million in revenue over the past 12 months through April 3, Tyson said Friday in a statement. That represented less than 1% of Tyson’s $43.2 billion in annual sales. The deal is expected to be...

14 May

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Retail Sales, Stocks Rebound, Colonial Restarts – What’s Moving Markets By Investing.com

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By Geoffrey Smith Investing.com -- Stocks and other risk assets are rebounding after heavy sell-offs but retail sales data for April will test the market's nerve again. Colonial has restarted the pipeline that supplies 45% of the East Coast's gasoline and diesel supplies. The closure of the Mississippi continues to disrupt flows of agricultural commodities, and both Disney and Airbnb disappoint with their quarterly reports. Here's what you need to know in financial markets on Friday, May 14th. 1. Retail sales, industrial production data Market nerves over inflation will be tested again by the release of...

14 May

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Global equity funds receive biggest money inflow in four weeks – Lipper By Reuters

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(Reuters) - Global investors continued to buy equity funds in the week ended May 12, driven by hopes of an economic rebound and expectations of faster vaccine rollouts to curb the pandemic. According to Refinitiv data, global equity funds received $15.1 billion worth of inflows, the biggest in four weeks. However, the inflows mainly involved cyclical stocks, while growth funds, which invest in fast-expanding sectors such as tech, faced outflows on concerns over rising inflation levels. (Graphic: Fund flows into global equities bonds and money markets, https://fingfx.thomsonreuters.com/gfx/mkt/xegpbdlxypq/Fund%20flows%20into%20global%20equities%20bonds%20and%20money%20markets.jpg) Financials and mining sector funds received $1.3 billion...

14 May

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Hong Kong tycoon Jimmy Lai’s Taiwan paper to stop print edition By Reuters

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TAIPEI (Reuters) - The Taiwan arm of Hong Kong media tycoon Jimmy Lai's Apple (NASDAQ:AAPL) Daily is to stop publishing its print version, the newspaper said on Friday, blaming declining advertising revenue and more difficult business conditions in Hong Kong linked to politics. The Taiwan Apple Daily was set up in 2003 as a sister paper to the original Hong Kong edition, and is known for its colourful and sometimes racy coverage of everything from politics to celebrity scandal. But in an open letter to readers published on its website, the Taipei-based paper blamed the "monopoly"...

14 May

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Sanne Group shares jump as takeover bid rejected By Investing.com

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By Samuel Indyk Investing.com – Shares in Sanne Group jumped 20% on Friday after the company received and rejected an unsolicited takeover approach from private equity firm Cinven. The FTSE 250 company said in a statement it had received three unsolicited non-binding, indicative proposals, the latest an all-cash offer of 830 pence per share. The board engaged with Cinven to explain why the proposal significantly undervalued the company and why it does not merit further engagement. “We are extremely confident in Sanne's strengths and future prospects, especially as our markets continue to recover and our well-supported...

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Wall Street Opens Higher as Retail Sales Fail to Frighten; Dow up 220 Pts By Investing.com

DoorDash Pops As Record Orders Drive Guidance Higher By Investing.com

Snowflake a Buy on Generational Shift to the Cloud: Goldman By Investing.com

Facebook data transfer ruling from Irish court due Friday By Reuters

Airbnb Weaker As Results Show Recovery Eluding Two Key Segments Still By Investing.com

Cheerios Maker General Mills Makes $1.2 Billion Bet on Pets By Bloomberg

Retail Sales, Stocks Rebound, Colonial Restarts – What’s Moving Markets By Investing.com

Global equity funds receive biggest money inflow in four weeks – Lipper By Reuters

Hong Kong tycoon Jimmy Lai’s Taiwan paper to stop print edition By Reuters

Sanne Group shares jump as takeover bid rejected By Investing.com

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