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BlackBerry is Reddit's latest meme stock
The share price has shot up in recent days, while AMC is on another big run.
NVIDIA delays RTX 3070 launch to prevent another ordering mess
NVIDIA has announced that it’s delaying the the GeForce RTX 3070 graphics card by two weeks to allow it to build more stock ahead of the launch.
Amazon's smart shelves will re-order office supplies automatically
Amazon's Dash buttons were a boon for the forgetful and time-pressed when they launched in 2015. The nifty little device let you re-order household items the moment you realized you'd run out, at the simple touch of, well... a button. But while they were discontinued earlier this year, their concept will continue to live on in the Amazon Dash Smart Shelf, a weight-sensing, WiFi-enabled smart scale designed to take the hassle out of office supply management for small businesses.
CBS and Viacom agree to sign $30 billion merger deal
CBS and Viacom have reached a long-rumored merger agreement. The two companies announced today that they will reunite as ViacomCBS. According to The Wall Street Journal, CBS and Viacom hope that, together, they'll be better positioned to fight against cable TV competition and streaming services.
Microsoft Excel can provide real-time stock data
You might use Excel to track your budget, but your investments? That's less likely when stock prices change from moment to moment. Now, though, you don't have to think much about it. Microsoft has teamed with Nasdaq and market info provider Refinitiv to bring real-time stock data to Excel spreadsheets in Office 365. Type in a stock symbol, click Stocks and you can fill cells with real-time data like the price, last trade times and 52-week highs or lows. They can be used in formulas, too.
Lyft may become a public company before Uber
Lyft is smaller than Uber, but it might just one-up its rival on the stock market and provide some fiercer competition. Wall Street Journal sources have learned that Lyft has filed documents with the SEC for its expected initial public stock offering, and hopes to sell shares in March or April. While Uber has long talked about an IPO, it has been targeting a debut in the second half of 2019. There could be a few months where Lyft is your only major choice if you want to invest in an American ridesharing company.
Uber wants to give company stock to its drivers
This week, Uber sent a letter to the Securities and Exchanges Commission requesting that the organization change its rules and allow it to grant company stock to its drivers. The letter was obtained by Axios. While Uber has been interested in this subject for some time, previous SEC heads have been hostile to the idea. However, the new chairman Jay Clayton has requested comments on the issue, indicating he is open to changes.
Musk's explanation of 'funding secured' tweet challenged by Azealia Banks
If you thought Elon Musk's sudden announcement last week that he had "funding secured" to make Tesla privately owned could not possibly get any weirder, now Azealia Banks is involved. The often-controversial artist apparently spent some time last week in Musk's home at the invitation of his girlfriend, the musician Grimes. In a series of posts on her Instagram story, Banks said she'd been sitting in Musk's home alone for "days," while Grimes coddled Musk for "being too stupid not to go on twitter while on acid."
Tesla's board discussed going private before Musk's tweets
Turns out not everyone was in the dark about Elon Musk's plans to take Tesla private. A post from the board on the electric-vehicle manufacturer's investor relations site says the idea came up last week during a board meeting. "This included discussion as to how being private could better serve Tesla's long-term interests, and also addressed the funding for this to occur." So, in theory, the entire board went along with CEO Musk's sophomoric pot reference stock-buyback price. The brief post concludes that the board has met several times since to evaluate the move.
Elon Musk is seriously considering taking Tesla private
Earlier today, Elon Musk tweeted that he's considering taking Tesla private, and buying shareholders out at an above-price rate of $420 if they didn't want to stay invested. Considering the company CEO's, ahem, freewheeling speech on Twitter, it wasn't immediately clear if he was serious. But Musk published an internal email he sent this morning clarifying that while a final decision hasn't been made, he's got plenty of reasons for thinking a private Tesla operates better than a public one, at least right now.
Dell is going public again
Dell went private back in 2013 to reorganize without quite so much external pressure to perform. Now, however, it's ready to go public once again. The company has unveiled a plan to buy its own tracking stock in a $21.7 billion deal that, in exchange, will offer a "new class" of public stock on the NYSE. The move won't change Dell's control over VMware (which it took when it bought EMC), but it could help Dell pay off its debt at a faster rate than it has so far.
SEC is ‘looking closely’ at companies that dabble in blockchain
The Securities and Exchange Commission has had it with companies throwing around words like crypto and blockchain in order to bump up their stock prices. There have been quite a few instances of that lately and the SEC says it will be looking more closely at public companies that suddenly shift their interests to cryptocurrencies or blockchain technology.
Kanye West bought Kim Netflix and Apple stock for Christmas
It's Christmas morning in the Kardashian-West household. The family, possibly wearing Final Fantasy-inspired pyjamas, gathers under an enormous blinged-out tree. "Can we listen to Christmas songs?" North might ask, with the hopeful glee of a small child during the holidays. "Maybe later," says Yeezy, as he once again hits play on The Life of Pablo, which is definitely not streaming through Tidal. Kim chooses a gift from the mountains of presents piled up in their living room, and unwraps it to find a Disney toy, Apple headphones, Adidas socks and gift cards for Netflix and Amazon.
Equifax committee says executive stock sales weren’t insider trading
The eyes of the Securities and Exchange Commission and the US Department of Justice have been focused on some questionable stock sales initiated by three Equifax executives a month before the data breach that exposed 143 million US consumers' personal information was revealed to the public. Those agencies have been investigating the sales, which amounted to nearly $1.8 million, and are working to determine whether they were the result of insider trading. However, CNBC reports today that an Equifax committee has reviewed the sales and found no signs of misconduct.
Zynga back in court over alleged insider trading
Social game developer Zynga is being dragged back into a lawsuit that claims select board members acted unfairly on inside information by selling shares before a stock price tumble in 2012. As Reuters reports, the Delaware Supreme Court is reviving a case that alleges co-founder Mark Pincus, and a group of his fellow board members, were aware of the company's lacklustre performance. It's said that Zynga had a rule prohibiting stock sales until three days after an earnings report. Those who stand accused were given an exemption, however, and sold 20.3 million shares for $236.7 million three weeks before the announcement.
Tesla is selling $2 billion in stock to make the Model 3 (updated)
When Tesla talked about its earnings in early May, one big question came up: just how will the company afford to make hundreds of thousands of Model 3s (over 373,000, at last count)? By raising a ton of investment money, that's how. Tesla has announced that it's selling a total of $2 billion in stock, about $600 million of it from Elon Musk himself, to pay for its expansion plans. It had to move up its goal of 500,000 electric vehicles per year to 2018 in response to Model 3 deposits, and that means having a "good buffer of cash" (as Musk said during the earnings call) to keep things humming.
Facebook must deal with class-action lawsuits over its IPO
If Facebook thinks the legal troubles with its initial public stock offering are over, it has another thing coming. A federal judge has ruled that the social network must face two class-action lawsuits accusing it of masking doubts about its growth before the IPO kicked off in 2012. Both of them claim that Facebook pulled a fast one, tricking investors into buying stock at high prices that ultimately lost them money.
Twitter CEO and founder gives a third of his stock to employees
"I'd rather have a smaller part of something big than a bigger part of something small." That's how Twitter CEO Jack Dorsey tweeted about his decision to channel a huge chunk of his own stake in the social network back to the employee stock compensation pool. This would then be available for grants and help ameliorate some of the damage done when the company laid off a chunk of the team just last week. Oh yes, and Twitter plans to announce its quarterly earnings next week. [Image credit: AFP PHOTO / JUSTIN TALLIS]
Tinder's parent company files for IPO
Match Group, the owner of Tinder and OkCupid, is going public. According to the filing, the company hopes to raise $100 million dollars. The mega-dating company states in its paperwork filed with the Security and Exchanges Commission that its advantage over its competition includes strong brand recognition (It's tough to think of a dating brand larger than Tinder right now) and the ability to scale. It currently has 59 million monthly active users and of those 4.7 million are paid. Most of its intended growth will probably be international. The increased funds from the offering will help it focus on product development, becoming more mobile, improve customer acquisitions and expand its portfolios with new products and buying up competitors. The company will be listed on the NASDAQ as MTCH. Of course all these numbers and talk of growth come down to love. Or at least the short-term "love" of hooking up. The Match Group's stated mission is "to increase romantic connectivity worldwide."
Dell's buying EMC for $67 billion in the biggest tech deal ever
Dell has agreed to buy EMC Corporation for a deal worth $67 billion. While EMC isn't a household name, some of its products and subsidiaries are. In addition to selling cloud services, storage and analytic solutions to enterprise companies, EMC owns the security firm RSA and the virtualization solution VMware. The deal is huge -- it's being billed as the largest tech acquisition in history. EMC is probably worth twice as much as Dell itself right now, and has some 70,000 employees worldwide.
