Skip to content
(Bloomberg) -- U.S. and European equity futures fell with Asian stocks and the dollar climbed after President Donald Trump said he had tested positive for the coronavirus.Trump said that both he and the First Lady Melania Trump tested positive and that they will now quarantine themselves. They were tested after Hope Hicks, one of his closest aides, returned a positive result for Covid-19. The yen and Treasuries, often seen as havens in times of market stress, rose. Nasdaq 100 futures were about 2% lower and crude oil extended losses. Contracts on the Cboe Volatility Index surged about 10%.“This is a big shock -- these are completely exogenous events,” David Page, head of macroeconomics at AXA Investment Managers, said on Bloomberg TV. “It’s quite natural to see a bit of risk off.”S&P 500 contracts had seen mild weakness earlier after the House of Representatives passed a $2.2 trillion Democrat-only fiscal stimulus package...
(Bloomberg) -- Oil was caught up in a broad downward move in financial markets after President Donald Trump said he had tested positive for the Covid-19 virus.Futures in New York fell toward $37 a barrel Friday after slumping 3.7% on Thursday. The U.S. president announced that he and First Lady Melania Trump had tested positive for Covid-19, shortly after one of his closest aides, Hope Hicks, had fallen ill with the coronavirus. Asian stocks fell, as did European and U.S. equity futures, while the dollar swung wildly.Trump’s positive result will likely sharpen already intense public attention on his handling of the pandemic as he campaigns for re-election against Democrat Joe Biden, who leads in national polls. Oil was already lower before the announcement as the chance of any more U.S. fiscal stimulus before the November election appeared to be fading after talks yielded no immediate breakthrough.“Trump and the coronavirus news, along...
Shares of Twilio soared 9.8% in Thursday's extended trading session after the company said revenues for the quarter ended September 30, 2020 (third-quarter) will be higher than its previously announced guidance.In an SEC filing, Twilio (TWLO) said “that it preliminarily expects that total revenue for the quarter ended September 30, 2020 will be ahead of the Company’s previously issued guidance of $401 million to $406 million.” Wall Street analysts are projecting 3Q revenues of $403.7 million, reflecting year-over-year growth of 37.1%.The cloud service platform provider is benefiting from accelerated digital transformation in the wake of the COVID-19 pandemic-induced work-from-home trend. On August 4, Twilio reported 2Q revenues of $400.8 million, which increased 46% year-over-year. The company’s adjusted EPS jumped three-fold to $0.09 year-on-year. (See TWLO stock analysis on TipRanks)On Oct. 1, Oppenheimer analyst Ittai Kidron reiterated a Buy rating and a price target of $300 (16.7% upside potential) on the stock, after attending...
After Trump tests positive for COVID-19, Dow futures fall as investors worry. The president testing positive led stocks to fall in pre-market trading....
(Bloomberg) -- U.S. and European equity futures fell with Asian stocks and the dollar climbed after President Donald Trump said he had tested positive for the coronavirus.Trump said that both he and the First Lady Melania Trump tested positive and that they will now quarantine themselves. They were tested after Hope Hicks, one of his closest aides, returned a positive result for Covid-19. The yen and Treasuries, often seen as havens in times of market stress, rose. Nasdaq futures were 2% lower and crude oil extended losses.Trump’s physician said the president and Melanie Trump will remain at the White House and that the medical unit would “maintain a vigilant watch.”S&P 500 contracts had seen mild weakness earlier after the House of Representatives passed a $2.2 trillion Democrat-only fiscal stimulus package that Republicans reject. Next up comes the monthly U.S. payrolls data later FridayIn Japan, stocks erased initial gains and were down...
When JFrog (NASDAQ:FROG) priced its initial public offering at $44, markets valued the company at around $4 billion. The over 60% rally on the day rewarded early investors only. Anyone who bought the stock days after the IPO will not enjoy the same return. And if markets panic on FROG stock valuations, latecomers are at risk of paper losses.
Source: Michael Vi / Shutterstock.com DevOps is a technology leader whose market size will continue expanding. On that basis, investors should consider its long-term prospects despite the early run higher.
FROG Stock Tearing Higher
JFrog raised $405 million from the IPO. The cash raised will allow the company to invest further in research and development. Still, R&D costs fell sharply from $9.88 million in 2018 to $3.64 million in 2019. Sales and marketing, along with general and administrative costs also dropped. This suggests that the company may look for a strategic investment through an acquisition.InvestorPlace...
