A sneakers producing company has just made sneaker production more fashionable and interesting. The company is now worth $1 billion on the NewYork Stock Exchange StockX has officially reached a $1 billion valuation after its most recent funding round, co-founder Josh Luber told CNBC on Wednesday. The company, which brands itself as the “stock market[...]
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The stock market and economic outlook in the United States are "deteriorating," according to an analysis from one of Wall Street's top investment banks as reported by CNBC. Renewed trade tensions and a slump in economic data — ranging from falling durable goods and capital spending to a downshift in the services sector — has[...]
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Uber Technologies has decided it will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday. An IPO of this size would make Uber one of the biggest technology IPOs of all[...]
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Lyft falls below IPO price, after lukewarm market debut last week The stock jumped as much as 23 percent in its opening day Friday before settling to a 9 percent gain. Lyft's market debut offers something of a gut check for Uber, Slack and Pinterest. Shares of Lyft sank as much as 11 percent Monday,[...]
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Saudi Arabia’s stock exchange, the Tadawul, took its first step Monday of inclusion in two major international indexes: the FTSE Russell and S&P Dow Jones’ emerging markets indices. The inclusion marks a continuation of efforts by the Saudi kingdom to open up its market to international investors, Tadawul CEO Khalid Abdullah al-Hussan told CNBC’s[...]
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O&O Networks Limited, a special purpose vehicle owned by the Ecobank Group, has denied reports that the federal high court in Lagos has ordered it to forfeit proceeds from the sale of shares in Airtel Nigeria. In a statement released on Sunday, it said there have been no material legal developments in the plaintiff’s substantive[...]
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MTN Group has said it will list in the Nigerian Stock exchange by July this year. The telecommunication giant made this disclosure in a mailed statement seen by TheCable on Thursday, as its results showed a total revenue of 37,971,000,000 South African rand (N965.3bn). “MTN plans to list by introduction on The Nigerian Stock Exchange during the first[...]
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Trading on the Nigerian Stock Exchange (NSE) continued to react negatively to the outcome of the presidential election with the market capitalisation losing N196 billion to close below N12 trillion mark. NAN reports that the market capitalisation for last trading day in February shed N196 billion despite the N16 dividend declared by Dangote Cement. Specifically,[...]
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J.C. Penney on Thursday reported earnings and sales for the holiday quarter that topped analysts' lowered expectations, as the company said it was successful in reducing a glut of unsold inventory in 2018. But revenue was down sharply, and the company declined to provide a forecast for 2019 as it works to improve its financial performance.[...]
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Foreign investors pulled out a total of N642.65bn from the nation’s stock market last year, compared to the N435.31 withdrawn in 2017, the Nigerian Stock Exchange said in a new report on Thursday. The NSE said foreign inflows into the market fell to N576.45bn last year from N772.25bn in 2017. Foreign portfolio investment outflow includes[...]
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Amazon has eclipsed Microsoft as the most valuable publicly traded company in the U.S. as a see-sawing stock market continues to reshuffle corporate America's pecking order. The shift occurred Monday after Amazon's shares rose 3 percent to close at $1,629.51 and lifted the e-commerce leader's market value to $797billion. Meanwhile, Microsoft's stock edged up by[...]
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Warren Buffet lost serious money yesterday . Buffet's Berkshire Hathaway Own's 252.5 million shares of Apple, despite Buffet's usual aversion to tech stocks. This follows Apple's cut in growth forecast that saw the company lose $446Bn in market capitalization in 3 months with the shares falling more than 38%. Berkshire Hathaway is losing more that[...]
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Ghosn, who was initially charged, twice, for allegedly underreporting his remuneration, has been detained since November A Tokyo court on Monday approved yet another a request from prosecutors to extend the detention of former Nissan Motor Co. Chairman Carlos Ghosn for alleged financial misconduct. This stretch should keep the automaker’s savior behind bars until Jan. 11.[...]
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Facebook shares plummeted more than 7 percent today as the social media giant continued to feel the heat from a string of bad news. A bombshell report from the New York Times revealed that Facebook allowed over 150 companies, including Netflix, Spotify and Bing, to access unprecedented amounts of user data, such as private messages. The incident[...]
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Facebook shares took a sharp fall as stock markets opened on Thursday, a day after a secret trove of documents was leaked. Shares opened around 2.5 per cent down, wiping an estimated $9.5billion off the company's $379billion value, but rebounded slightly to 1 per cent down 90 minutes after trading started. The documents showed Facebook[...]
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Microsoft Corp’s stock market value closed above Apple Inc’s for the first time in eight years on Friday as the Windows maker benefited from growth in cloud computing while Apple was hit by investor concern about iPhone demand. Shares of Microsoft rose 0.6 percent to end the week at $110.89, putting its market capitalisation at[...]
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The Nigerian Stock Exchange fell to its worst performance year to date as the All Share Index closed at 32,292.79 basis points, down 3.46% and below the 33,000 mark. Year to date, the index is down 15.56%. The drop was largely due to Dangote Cement falling sharply in today’s trading session. The stock closed at[...]
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