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An earnings typo sent Lyft's stock price into the stratosphere
A typo in an earnings report made Lyft’s stock price rise by up to 70 percent, before settling down to within the normal range. The company’s CEO has taken the blame for the incident.
PayPal may offer a stock-trading platform in the US
PayPal is “exploring” the idea of allowing its users to trade individual stocks.
China will tighten data privacy rules for tech companies seeking foreign investment
China is to introduce tougher data privacy rules for tech companies seeking stock market listings overseas.
BlackBerry is Reddit's latest meme stock
The share price has shot up in recent days, while AMC is on another big run.
Social media bots may have fueled the GameStop stock frenzy
Social media bots may have played a part in the GameStop stock frenzy, according to a study.
Robinhood raises $1 billion, will reopen GameStop stock purchases on Friday
Robinhood claimed its decision to freeze purchases of 13 stocks, including GameStop, on Thursday was a "risk-management" decision. After raising $1 billion from investors, it will reopen trading access on Friday morning.
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.
Scutify puts the bells and whistles on Wall Street
Scutify is a combination of many things, but it's mainly a social network built around the stock market. Monitor your important stocks and their current prices, get into trading and investing and chat about them with other members of Scutify. Post questions or status updates called "scuttles" to get the conversation going, which look like long, intelligent tweets. The app also integrates with Tradier Brokerage for investors to do what they do best and Twitter. Scutify is free for iPhone and iPad and requires iOS 7.0 or later. If you stare at Scutify for too long on your iPhone, your brain actually starts to hurt. Trending company logos at the top, a scrolling stock ticker underneath, investors' current opinions of the market, latest scuttles, plus a cluster of navigation options - it's a lot to take in. It feels like a software representation of all the chaos happening on CNBC during just about any program. The app is never void of content because right off the bat, Scutify appears to follow popular accounts at random. It feels weird at first but makes sense rather than just having a blank feed until you follow people. Above these latest scuttles from people are statistics about the market. Companies that are trending, an interactive stock ticker, and what's called the Scutify Sentiment giving a general consensus on whether stocks and the community surrounding them are bullish or bearish. If you tap a stock, the app brings up detailed information about its current price and pulls in relevant tweets and news articles. Use the search tool at the top to search for any stock in the United States, United Kingdom, Australia, Canada or India. You also get your own profile by tapping what appears to be a Dashboard icon at the top to view your own scuttles, track your follower account, see tweets relevant to the stocks you follow and more. To post a new scuttle, tap the New Post icon and type up to 500 characters with or without an image. The slide-in menu does absolutely nothing to consolidate an already disorderly app. Menu options here are Latest Scuttles, Premium Scuttles, Companies, Commodities, All-Star Users, Latest Articles, Trending 20 Index, Scutify's separate Sentiment app and that's not even the entire list. I'm drowning in everything Scutify is trying to pile into this app. To make matters worse, the navigation is just as confusing as it is cluttered. "My Dashboard," something that normally refers to a home screen is actually your profile while "Home" is for your Home screen. Also, Latest Scuttles displays a list of posts from other users, "My Scuttle List" is a list of stocks you're following. Are scuttles stocks or posts? The breadth of features Scutify offers investors and business enthusiasts in its app is extraordinary. In fact, I haven't even scratched the surface of what it's capable of. Unfortunately, I don't think anyone would ever be able to efficiently or effectively browse through the entirety of Scutify without yearning for some fresh outside air or a glass of wine by the time they close the app. Far too much is going on to the point that it's just plain difficult to use. At least on the iPad app, Scutify has more room to work with and does take great advantage of the larger display to showcase all of its features. Ultimately though if you're looking for a stock trading app, keep browsing until you find one that doesn't give you a headache.
Report: GAME preparing to rejoin stock market
2012 wasn't kind to retail chain Game - after closing more than 200 stores in the UK and Ireland, shuttering its Australian division, filing for administration (bankruptcy) and getting delisted from the stock exchange, its operations were purchased by sister investment companies. Luckily for GAME, it appears to have phoenix-like qualities - Sky News reports that the company is planning on rejoining the stock market. The effort will supposedly consist of a £300 million flotation later this year, which would involve selling shares of the company to the public. The move would suggest a strong performance from the retailer during both the holiday season and the launch of the Xbox One and PlayStation 4, with the former doubling the Xbox 360's UK debut and the latter moving 700,000 units in Europe and Australia by December.
Twitter submits plans for IPO: 140 characters of going public
Honestly, it shouldn't come as any shock: the microblogging service that made it perfectly acceptable to deliver huge, huge news in 140 characters or less has just done precisely that. Twitter has announced that it has "confidentially submitted an S-1 to the SEC for a planned IPO," but details beyond that are being kept under wraps. What's it mean? Those with equity in the company are about to become mind-numbingly rich; Wall Street is about to lose its gourd about getting in early; and end-users like yourself should start worrying about ads, ads everywhere.
NASDAQ extends Majesco's delisting grace period, new deadline Feb. 2014
NASDAQ has given Cooking Mama publisher Majesco another 180 days to raise its (beef) stock value above $1.00, after the company failed to meet yesterday's existing deadline for the same goal. Majesco now has until February 24 of next year to become compliant with NASDAQ Listing Rule 5550, subsection A, article two, which requires trading companies to have a "minimum bid price of at least $1 per share." Previously, Majesco had 180 days (starting last March) to increase its stock value, lest it be delisted from NASDAQ and forced to toil endlessly in the Salt Mines of Thælm on Baltharia 7's Dark Moon. Okay maybe not that second thing, but getting delisted from NASDAQ is pretty horrible on its own. As of press time, Majesco's stock is trading at $0.64 a share.
Icahn's AAPL buyback advice could benefit Apple quickly, significantly
An analysis by Deutsche Bank's Chris Whitmore shows a potential US$50 billion stock buyback would boost Apple's earnings per share by as much as $4.25 in 2014, AppleInsider reports. This comes in the wake of a meeting last week between Tim Cook and investor Carl Icahn where the possibility of expanding the company's share buyback program was discussed. Icahn made headlines last week when he reportedly invested over $1.5 billion in the Cupertino-based tech giant. This strong vote of confidence had a rather dramatic effect on AAPL, boosting it by over 20 points in less than a day. Of course, the most important factor in further pushing Apple's stock upwards is the continued announcement of innovative products, and with an iPhone event reportedly scheduled for September 10, we won't have to wait long on that front.
Fidelity Market Monitor app brings stock alerts, news and fanciful financials to Google Glass
You know, it makes sense: an app for the one percent, tailor-made for a $1,500 headset. Fidelity's Market Monitor app for Google Glass might just be the most impressive program to debut for the device, particularly considering the class of individual who would take advantage. In the trading world, missing an alert or notification by even three seconds could be the difference between million and millions, with this app enabling Fidelity customers to request real-time stock quotes and receive alerts dealing with companies in their portfolio. In a concept video describing what's possible (embedded just after the break), we even see a wearer snap a photo of a Google logo, and the app translates the photo into a stock quote for GOOG. We're guessing that it's only a matter of time before every other financial institution follows suit, which will likely lead to each and every CNBC anchor wearing a set whilst on air. Also, we're hearing from a "reliable source" that both Michael Douglas and Shia LaBeouf will be joined by Arnold Schwarzenegger in Wall Street: Glass on Glass on Glass.
Elite: Dangerous studio Frontier Developments set to go public
Frontier Developments, known around these parts as the studio behind crowdfunding success story Elite: Dangerous, is about to enter a different brave new world: that of the London Stock Exchange. The company is set to launch its IPO on July 15th with around £4 million ($5.9 million) in shares. Elite: Dangerous's Kickstarter campaign raised £1.6 million and Frontier snagged an additional £2.8 in provate funding. The studio has about £7.2 million in the bank. A statement from founder and studio head David Braben accompanied the announcement, outlining his excitement to list Frontier at "a time of such strong momentum in the business and the sector." He also noted that the IPO "gives us the necessary financial impetus to continue operating at the forefront of the continually evolving and expanding global games market."
Apple's $17 billion bond deal is the largest in history
The Wall Street Journal reports that Apple made the largest corporate-bond deal in history on Tuesday, when it raised US$17 billion in bonds -- the first time the company has offered bonds in 20 years. In response, The New York Times asks, why would cash-rich Apple do this in the first place? Analysts tell the NYT that the debt actually can boost returns to shareholders, something Apple has already taken steps to do when it announced its dividend and share-repurchase program last week and in March 2012. In the process, Apple was using historically low rates to its advantage. The company can step around the taxes it would need to pay by repatriating some of its overseas cash stockpile, buying the company more time to lobby Congress to its advantage. We reported shortly before the deal took place that Apple was filing the required SEC paperwork. The company plans to return $100 billion to stockholders by the end of 2015. Its next dividend payout is May 16.
DCM Dealer software platform mines social media for stock sentiment, Wall Street licks its chops
In this episode of "What could possibly go wrong?!", allow us to introduce you to DCM Dealer. Billed as an "online trading platform," this here project was whipped up by the same London-based investment outfit (DCM Capital) that went belly-up after losing some $40 million in assets in just one month during the summer of 2011. Granted, that was a pretty tough time in the market, and it did manage to squeeze out a 1.9 percent gain in the period it was open, but it's still worth keeping in mind. Now, the firm is hoping to catch a second wind with a tool that mines Twitter, Facebook, and the whole of social media in order to pick up clues about the public's view on a stock. Reportedly, it'll spit out real-time ratings from 0 (negative) to 100 (positive), giving investors yet another "leading indicator" on what to invest in flip for a quick buck. Founder Paul Hawtin confesses: "This is not some kind of holy grail of buy-sell signals that's guaranteed to make you money. This is an additional layer of market information...markets are driven by greed and fear, so if you can understand fear and quantify it in real-time, you could use that to protect yourself." We'll leave it to the 99 percent to comment on the idea below.
Analyst expects Apple stock to drop to $270
Apple's stock price has had quite an interesting year. After hitting a record high of over $700 per share in September, the price has been hovering around the $500 mark for several weeks. But as Businessweek reports, that figure just isn't low enough for analyst Edward Zabitsky, who is banking on shares to dive as low as $270. Zabitsky cites several factors in his argument that Apple's stock is headed for a fall, including competition from the likes of Microsoft and Samsung, and what he sees as unrest in Apple's management. He predicts that the stock will reach the $270 mark within 12 months. Apple's stock price hasn't dipped as low as $270 since September 2010, so a dip that low within a year's time would certainly be a dramatic stumble.
Apple named top stock for 2013 by Barron's
Despite falling off significantly from its highest point of the year at over $700 a share, Apple's stock is still a hot topic amongst investment gurus. Financial magazine Barron's not only retains faith in Cupertino's value, but feels so strongly about the company's ability to once again reach a lofty value that is has placed Apple at the top of its Favorite Stocks for 2013 list. Helping boost Apple's standing in Barron's eyes is its current price-to-earnings ratio, which the publication notes is at its lowest point in half a decade. "None of the recent investor concerns -- lower margins, supply constraints, management changes, iPad competition and the iPhone 5 map fiasco -- are major," Barron's explains. "There's room for a higher dividend and a more aggressive share-repurchase program in 2013. Both could play well with investors." [Via: BGR]
Robot stock traders lose $440,000,000 in 45 minutes, need someone to spell it out
Humans never learn and apparently neither do robots. Autonomous trading AIs went on a spending spree at Knight Capital Group in New Jersey this week, buying up shares in everything from RadioShack to Ford and American Airlines (ouch) in a 45-minute frenzy of disobedience. The company tried to offload the unwanted stock, but discovered it was already nearly half a billion dollars in the red -- enough to wipe out its entire profit from 2011 and "severely impact" its ability to conduct business. If only it had protected itself with one of these.
Could AAPL split in a move toward Dow? Bernstein analyst thinks it will
A week after Apple posted its third-quarter earnings for 2012, Bernstein Research analyst A.M. "Toni" Sacconaghi speculates that the time is right for Apple to split its stock if it wants a future spot as an indexed member of the Dow Jones Industrial Average. The Dow is woefully underpopulated with technology companies, Sacconaghi argues, and IBM and Microsoft were added during a time when the PC market was far less mature than the smartphone market is now. But if Apple was to join the DJIA, the price of the stock would have to come down from the current $607 that it's trading at as of this morning. The Dow is a price-based index with few stocks selling more than $100 a share. Granted, this is speculation worthy of Chris Rawson's rumor roundups. Despite some headlines indicating that it's practically a done deal, Sacconaghi's scenario is just that -- a "what if" situation. As Barron's Tiernan Ray rightfully points out, Apple has not indicated that it has any current intention of splitting its shares -- although the company has done so three times before, most recently in 2005. The New York Times's DealBook blog is also considering Apple's fiscal future, pointing out a few possible big-game acquisition targets for the company's ample cash hoard. Writer Andrew Ross Sorkin saves the serious caveats for the end of the post (much of Apple's cash is overseas and cannot be repatriated without a tax hit, for example) after he speculates on some truly blue-sky options for Apple's shopping list. Twitter and Path? Nuance? Sprint? Research In Motion?!? Despite the reports of past talks between Apple and Twitter, none of these seem particularly likely. If we're throwing darts at the stock listings, though, perhaps Apple will fork over $68 billion and take over Comcast, which would gain it 51% of NBC Universal along with millions of paying cable customers. [via Reuters] #next_pages_container { width: 5px; hight: 5px; position: absolute; top: -100px; left: -100px; z-index: 2147483647 !important; } #next_pages_container { width: 5px; hight: 5px; position: absolute; top: -100px; left: -100px; z-index: 2147483647 !important; }
