stockmarket
Rumble (RUM) and Trump Media & Technology (DJT) stocks went vertical this week as the election cycle took more turns recently. Rumble, a popular YouTube alternative, soared by over 20% after the Trump shooting and after he nominated JD Vance as his vice president pick. Vance, together with his friend Peter Thiel, have invested in Rumble. RUM vs DJT stocks Trump shooting and odds of winningThe RUM and DJT stocks bounced back as investors and analysts predicted that Donald Trump would win the upcoming general election. These odds jumped after Trump was shot by an assassin at a rally in Pennsylva...
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Super Micro Computer Inc (NASDAQ: SMCI) will replace Walgreens Boots Alliance Inc (NASDAQ: WBA) in the Nasdaq 100 on July 22, as per a press release on Monday. The Nasdaq 100 is an index comprising the largest 100 nonfinancial companies in the Nasdaq Composite. Supermicro stock is still down about 2.0% on Monday. Why is Walgreens losing its spot in Nasdaq 100?Nasdaq 100 requires member companies to maintain a minimum weighting of 0.1% of its market value that currently sits at over $20 trillion. Walgreens is losing its spot in the Nasdaq 100 as its stock has crashed more than 50% this year tha...
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Netflix Inc (NASDAQ: NFLX) has already surged about 40% this year, and analysts are bullish on its continued growth. Morgan Stanley’s Benjamin Swinburne has reiterated his “overweight” rating on Netflix, projecting further gains as the company prepares to release its Q2 financial results on July 18th. Swinburne raised his price target on Netflix stock to $780, indicating a potential 20% upside. He attributes this optimism to Netflix’s robust performance and expects “continued strong results heading into the second half of 2024.” Despite its impressive performance, Netflix remains unattractive ...
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OneStream, a company specializing in streamlining financial processes and providing actionable insights through its platform, is set to go public. Offering 24.5 million shares at a price range of $17 to $19 per share, the IPO aims to raise $465.5 million, valuing OneStream at approximately $4.38 billion. OneStream intends to buy freshly issued units of OneStream Software LLC, a company solely managed by OneStream. The remaining amount will be used to buy Class C common stock from some of the existing shareholders. What does the company do?Established in 2010, OneStream supports CFOs in prepari...
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Scinai Immunotherapeutics Ltd (NASDAQ: SCNI) unveiled promising preclinical outcomes for its innovative anti IL-17A/F antibody fragment (NanoAb) aimed at treating mild to moderate plaque psoriasis. The biotechnology firm’s shares experienced a significant surge of 55% this morning after the announcement, but despite this increase, they are still down approximately 35% from their highest point over the past 52 weeks. Why is it significant for Scinai stock?Dr. Tamar Ben-Yedidia, Chief Scientist at SCNI, highlighted the milestone achievement, confirming that the NanoAb effectively neutralizes bot...
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American Steel manufacturer Cleveland Cliffs on Monday announced its decision to acquire Canadian steelmaker Stelco Holdings for an enterprise value of approximately $2.5 billion, the company said, in a move that will expand the company’s steelmaking footprint. The acquisition follows its failed bid to acquire US Steel last year for $7.3 billion. US Steel had called the bid “unreasonable” and decided to merge itself with Japanese steel major Nippon Steel. Stelco shares surged by 74% at 64.84 CAD at 11:30 am in Toronto. “The acquisition confirms Cliffs’ commitment and leadership in integrated s...
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The popular SPDR S&P 500 ETF (SPY) soared to a record high on Monday as investors piled into stocks amid the ongoing stock bull run. The fund jumped to a high of $565, meaning that it has jumped by more than 175% from its lowest point in 2020. SPY to be passed by IVV and VOOThe SPY ETF is at an elevated risk of being passed by the Vanguard S&P 500 (VOO) and the iShares S&P 500 ETF (IVV) in terms of assets. Data by Morningstar shows that the SPY fund has over $558 billion in assets while the IVV has over $506 billion. VOO has $489 billion in assets. Eric Balchunas, who covers ETFs for Bloomberg...
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Shares of Trump Media & Technology Group Corp (NASDAQ: DJT) surged over 50% in premarket trading on Monday after an assassination attempt on former President Donald Trump. The incident occurred at a rally in Pennsylvania over the weekend, raising questions about its impact on the 2024 U.S. elections and the future of Trump Media. Trump Media CEO responds to the IncidentDevin Nunes, CEO of Trump Media & Technology Group, expressed his sympathies to the injured and the family of a participant who lost his life in the incident. He called for a swift federal investigation to uncover the circumstan...
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The Schwab US Dividend Equity ETF (SCHD) is our fund of the week. The fund soared to a record high on Monday as American stocks continued their bull run as the quarterly earnings season continued. The ETF jumped to a high of $80, crossing the previous all-time high of $79.92. This rebound happened as other popular funds that track the S&P 500, Nasdaq 100, and Dow Jones also rallied to their record high. Donald Trump shooting and FedThere were three main catalysts for the SCHD ETF. First, the assassination of Donald Trump raised the probability that he would win the general election in November...
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In a move signaling its commitment to enhancing its cybersecurity offerings, Alphabet Inc. (NASDAQ: GOOG) is reportedly nearing its largest acquisition ever. According to a Wall Street Journal report from July 14, 2024, Alphabet is in advanced discussions to acquire the cybersecurity startup Wiz for approximately $23 billion. This potential acquisition not only marks a significant expansion for Google’s suite of services but also reflects the company’s strategic pivot towards strengthening its cloud computing offerings, an area where it currently trails behind industry leaders Amazon Web Servi...
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