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Shares of troubled departmental store J.C. Penney climbed 108% on Wednesday after announcing a rescue deal with landlords and lenders. The Texas-based department chain was delisted by the NYSE in May and it currently trades on the “pink sheets.” The coronavirus pandemic further aggravated J.C. Penney’s woes and the company had to file for bankruptcy…
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AstraZeneca shares opened lower in London this morning after the company announced it paused its Phase 3 trials for a coronavirus vaccine due to safety concerns. A report from StatNews said that the temporary halt took place after one trial participant had an adverse reaction to the vaccine, although the company has not confirmed said…
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Tesla shares were trading sharply lower in aftermarkets on Friday after it failed to get an entry into the S&P 500. It had become eligible for inclusion into the index after posting a net profit in the second quarter of 2020, its fourth consecutive profitable quarter. S&P 500 gets three new constituents Despite Tesla theoretically…
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Cruise line stocks performed positively yesterday despite the broad-market sell-off led by tech stocks, as investors see a future for the industry after the virus situation becomes a thing of the past. Shares of three of the biggest cruise operators in the world – Carnival Corp (CCL), Norwegian Cruise (NCLH, and Royal Caribbean (RCL) –…
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US tech stocks snapped their ten day winning streak and the Nasdaq Index closed down almost 5% on Thursday reigniting concerns over overvaluation in tech stocks. Many have argued that there is a tech bubble in 2020 just like we saw in the late 1990s. Others have said that the rally in tech shares is…
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The US dollar – as tracked by the US dollar index (DXY) – is rebounding strongly from its 2020 lows of 91.95 during today’s early forex trading session as market volatility keeps rising. This would be the greenback’s third consecutive day of positive performance if the trend holds up later once Wall Street opens, although…
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On Wednesday, discount retailer Costco reported a 15% rise in its August sales. Shares were trading higher in pre markets today even as futures point to a weak opening for the S&P 500. Costco’s July sales had increased by 14.1% while in June it reported an 11% rise in sales. In the fiscal year ending…
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Moneta Markets is a subsidiary of the well known Vantage International Group Limited (VIG) that is listed on the Main Board of Hong Kong Stock Exchange and operates VantageFX, one of the largest forex and CFD brokers in the world. Even though it was founded only recently, Moneta Market has rapidly become one of the fastest-growing…
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Tesla, the popular electric vehicle maker, would trade adjusted for the split on Monday. Do shares look attractive after the split? Earlier this month, Tesla announced a five for one stock split after the stock’s sharp rally. It was preceded by the announcement of Apple’s four for one stock split last month. Both Tesla and…
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The S&P 500 gained over 1% on Wednesday and closed at a record high for the fourth consecutive day even as many experts are warning of overvaluation. Is it time to book some profits at these levels? US stock markets have staged a remarkable rebound after the crash in the first quarter. The S&P 500…
