Author: Vitaliy Dadalyan

20 Nov by Vitaliy Dadalyan Tags:

PayPal to Acquire Price-Tracking Tool Honey for $4 Billion

(Bloomberg) -- PayPal Holdings Inc. will acquire Honey Science Corp. for about $4 billion, adding a popular browser extension used to compare prices at online shopping sites.Honey was profitable in 2018 and has 17 million people using the service each month, PayPal said in a statement. The 7-year-old startup will keep its base in Los Angeles, and the founders will continue to run the business. PayPal shares fell as much as 2.3% in extended trading after the news.Honey is the payment company’s first major acquisition this year, after a string of deals last year that included Hyperwallet, IZettle and Simility. PayPal has more than $10 billion of cash, and executives recently had been signaling the company’s openness to acquisitions.“You can expect us to be acquisitive going forward,” Dan Schulman, the chief executive officer, said on a conference call with analysts this summer. PayPal looks at hundreds of potential deals every quarter,...
20 Nov by Vitaliy Dadalyan Tags:

3 Beaten-Up Cannabis Stocks That Could Rebound in 2020

The vast majority of the Canadian cannabis sector gets beaten down almost every day. The Canadian cannabis sales aren’t living up to expectations after recreational cannabis legalization in October 2018 and the provinces over ordered product during Q2. The vast majority of the sector faced returns and allowances that crushed the sector during the recent Q3 reporting season.Despite a global market still forecasted to top $200 billion in annual sales in the distant future, investors need to focus on the present market conditions in the Canadian cannabis sector as the global opportunities are still mostly limited. The Canadian sector still has major catalysts in 2020 with the Cannabis 2.0 rollout and the eventual retail store expansion in key provinces like Ontario.On the recent earnings call, Canopy Growth forecast the potential for Ontario to open 40 retail stores a month during 2020 after operating with only 24 stores since early April. The...
20 Nov by Vitaliy Dadalyan Tags:

PayPal to buy rewards platform Honey Science for $4 billion

The deal for the seven-year-old platform that finds and applies coupon codes on popular sites and helps consumers save money will add to PayPal's ability to help merchants deliver offers, PayPal said. PayPal and its mobile payment service Venmo have more than 275 million active consumer accounts. The deal is expected to close in 2020 and would add to PayPal's adjusted profit in 2021....
20 Nov by Vitaliy Dadalyan Tags:

UPDATE 1-United Auto Workers accuse union president of false accounting

The United Auto Workers (UAW) said on Wednesday it has filed charges under its bylaws against its president, accusing him of "false, misleading and inaccurate expense records" and saying those charges could lead to his removal from his elected office and expulsion from the union. The UAW said it had filed charges under Article 30 of its constitution against Gary Jones, who has been linked to an ongoing corruption probe by U.S. federal officials. Earlier this month the union said Jones was taking a paid leave of absence....