Author: Evan Dion

Shopify Shares Fall After Receiving Another Analyst Downgrade

Shopify Shares Fall After Receiving Another Analyst Downgrade

Shopify Inc.’s (NYSE: SHOP) stock stumbled in early trading Tuesday after receiving another analyst downgrade. On Tuesday, Morgan Stanley analyst Brian Essex downgraded the company’s rating to “underweight” from “equal weight”. “Less than half of the company’s revenue is subscription and therefore not deserving of a full SaaS multiple,” he said in a report to clients. Shopify was also downgraded […]

Ford Says Justice Department Has Launched Criminal Investigation Into Emissions Certification Process

Ford Says Justice Department Has Launched Criminal Investigation Into Emissions Certification Process

Ford Motor Company (F) said in a filling with the Securities & Exchange Commission on Friday that the Justice Department has launched a criminal investigation into the automaker’s emissions certification process. The company said the investigation doesn’t involve the use of defeat devices and instead is focused on road load estimations including analytical modeling and coastdown testing. “We voluntarily disclosed […]

Anadarko Shares Rally 12% on Higher Takeover Offer from Occidental Petroleum

Anadarko Shares Rally 12% on Higher Takeover Offer from Occidental Petroleum

Anadarko Petroleum (APC) shares gained 12% after Occidental Petroleum (OXY) on Wednesday offered to buy the company for $76 per share in cash and stock in a bid to scuttle Chevron’s (CVX) deal to buy Anadarko for $65 per share.  Under the $57 billion proposal, including assumption of debt, Anadarko shareholders will receive $38 in cash and 0.6094 shares of […]