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It's full steam ahead at Carvana, founder and CEO Ernie Garcia tells Yahoo Finance....
(Bloomberg) -- Traders are bracing for more erratic behavior from the pound after it whipsawed on conflicting news about trade negotiations between the U.K. and European Union.It first fell as much as 0.8%, on reports that officials were at loggerheads on the issue of state aid and that the EU was starting legal proceedings against the U.K. over its plans to breach the terms of its withdrawal agreement. Then it gained as much as 0.4% on reports officials may have reached a compromise on state aid. And in a final twist, the currency dropped after EU officials said there’s no increased optimism in Brexit talks.Those swings lifted sterling’s one-week implied volatility to the highest since Sept. 15, making the currency the most erratic among Group-of-10 nations after Norway’s krone. It’s a sign that the pound, which spent most of 2019 swinging between positive and negative headlines on Brexit, is once again...
(Bloomberg) -- Barstool Sports founder Dave Portnoy took to Twitter to slam Deutsche Bank analyst Carlo Santarelli on his cautious view of Penn National Gaming Inc., a 36% equity-stake holder of Barstool.Portnoy tweeted a question to CNBC host Jim Cramer: “Do analysts ever get fired for being catastrophically wrong?” Santarelli has the lone sell rating on Penn National and his 12-month share price estimate is about 57% below where it currently trades. Penn National’s stock which closed at $72.70 on Wednesday, climbed as much as 3.1% today.Santarelli earlier reiterated his bearish view on Penn National, writing that there are “a lot of unfounded expectations” baked into the “lofty” share price. Still, the analyst revised his estimates higher to account for the casino owner’s third-quarter update issued Sept. 29, noting margin strength during the period.Santarelli declined to comment on Portnoy’s tweet.The Deutsche Bank analyst maintains that Wall Street is affording Penn “far...
(Bloomberg) -- President Donald Trump signed an executive order aimed at expanding domestic production of rare-earth minerals that are vital to many critical manufacturing sectors, in an effort to reduce dependence on China.The order, which declares a national emergency in the mining industry, directs the Interior Department to explore using the Defense Production Act to hasten the development of mines. The administration has previously used the law to accelerate production of medical supplies during the coronavirus pandemic.The president’s actions are a direct consequence of China’s dominance of the sector for decades, said Gavin Wendt, a senior resource analyst at MineLife Pty. Previously, “the West was happy to be supplied with cheap rare earths from China, with China bearing the environmental consequences,” he said.Critical minerals have been a focus in the U.S. as China accounted for 80% of total U.S. imports of rare-earth compounds and metals last year. Last year, the White...
The Department of Justice has reportedly launched a probe into Medtronic, according to the Wall Street Journal. Yahoo Finance’s On the Move panel discusses....
Yahoo Finance's On The Move panel weigh in on what's moving markets....
