Author: John Wilkes

Tesla Continues to Face Downward Pressure after Price Reductions

Tesla Continues to Face Downward Pressure after Price Reductions

Tesla Inc. (NASDAQ: TSLA) shares fell sharply on Wednesday after the company announced price reductions of $3,000 on its Model S sedan and $2,000 on its Model X SUV. Additionally, Citigroup analyst Itay Michaeli lowered its price target on Tesla to $191 per share, almost a 20 percent reduction, and maintained a “sell” rating on the company. Tesla has been […]

Qualcomm Shares Sent Tumbling After Losing Antitrust Case

Qualcomm Shares Sent Tumbling After Losing Antitrust Case

Chip stocks fell Tuesday after Judge Lucy Koh of Federal District Court in San Jose, California, ruled that Qualcomm, Inc. (NASDAQ: QCOM) violated antitrust law. According to the ruling, Qualcomm must change the way it does business and renegotiate license deals with its customers. “Qualcomm’s licensing practices have strangled competition in the CDMA and premium LTE modem chip markets for […]

Teva Shares Plunge Admist Allegations of a Drug Pricing Conspiracy

Teva Shares Plunge Admist Allegations of a Drug Pricing Conspiracy

On Monday, shares of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) plunged 14.83 percent to close at 12.23 a share. Teva Pharmaceutical is an international drug manufacturer that is based in Israel. It manufactures generic drugs for supply to the masses. It largely transacts in the procurement of the ingredients used in the processing of pharmaceuticals. The 44 U.S. states, led […]

Snapchat Shares Spike as Rival App Shutdown

Snapchat Shares Spike as Rival App Shutdown

Snap Inc. (NYSE: SNAP)’s stock received a boost on Thursday after a competing messaging app was shutdown. On Thursday, Instagram announced that it would be shutting down Direct, Instagram’s direct messaging app that was being tested to rival Snapchat. “We’re rolling back the test of the standalone Direct app,” a spokesperson said in a statement provided to TechCrunch. “We’re focused […]

Nvidia Back on an Upward Trajectory after Strong Earnings

Nvidia Back on an Upward Trajectory after Strong Earnings

Shares of (NVIDIA Corporation NASDAQ: NVDA) spiked in aftermarket trading after reporting quarterly results that topped analysts’ expectations. The company reported revenues were $2.22 billion for the first quarter of fiscal 2019, down when compared with $3.21 billion a year ago, but above analysts’ expectations of $2.20 billion, according to Refinitiv. Earnings, excluding certain items, were $0.88 per share for […]

BERLIN, GERMANY - FEBRUARY 15:  In this photo illustration model Bitcoins lying on Dollar bills on February 15, 2016 in Berlin, Germany. (Photo Illustration by Thomas Trutschel/Photothek via Getty Images)

GameStop, Nordstrom and Whole Foods Now Accept Bitcoin through New App

Bitcoin prices continue to surge, while U.S. markets slump as a result of a potential trade war between the U.S. and China. Bitcoin is now trading above the $8,000 threshold, the highest it’s been in over nine months. Prices for the cryptocurrency have soared approximately 60.84 percent in the past month, or $3,086.14. While Bitcoin has benefitted from geopolitical tensions, […]

Competition Between Beyond Meat and Impossible Foods Heating Up

Competition Between Beyond Meat and Impossible Foods Heating Up

The Alternative Meat Industry has continued to be a hot topic on Wall Street after Beyond Meat Inc.’s successful IPO earlier this month. Many analysts predict the alternative meat market could see exponential growth in the coming years. According to a research note from Bernstein, the alternative meat market could see growth similar to plant-based beverages, like almond milk, and […]

Bitcoin Gains Safe Haven Appeal as Global Trade Concerns Loom Over Major Markets

Bitcoin Gains Safe Haven Appeal as Global Trade Concerns Loom Over Major Markets

Cryptocurrency has gained some safe-have appeal as major global markets continue to react negatively to the ongoing trade war. Bitcoin spiked by as much as 15 percent on Monday, touching a high of $7,946.01, according to data from CoinDesk. The Dow Jones Industrial Average dropped 2.38 percent to close at 25,324.99. The Dow has now fallen approximately 1,200 points since […]

The Baidu Inc. logo is displayed in the reception are of the company's headquarters in Beijing, China, on Wednesday, Nov. 12, 2014. While Beijing-based Baidu, owner of China's most-used search-engine, is available around the world, more than 99 percent of its revenue comes from China. Photographer: Tomohiro Ohsumi/Bloomberg via Getty Images

Baidu Falls after Reporting First Quarterly Loss Since 2005

Baidu Inc. (NASDAQ: BIDU)’s stocks fell sharply after reporting its latest quarterly results. The company reported revenues were RMB 24.1 billion ($3.59 billion) for the first quarter of 2019, an increase of 15 percent year-over-year. Net loss attributable to Baidu was RMB 327 million ($49 million) for the first quarter of 2019, compared to a net income attributable to Baidu […]