(Bloomberg) -- Spotify Technology SA shares surged Friday, with the stock moving further into record territory after a pair of analysts said the company’s move into podcasts makes them even more bullish.The company recently announced a number of high-profile podcasts deals, including with Joe Rogan and DC Comics. There’s reportedly also a pact with Kim Kardashian West.“We not only see attractive monetization potential” from these deals, but they could lead to “future leverage to premium subscription pricing and label negotiations,” wrote Rosenblatt Securities analyst Mark Zgutowicz. The podcasts “present attractive leverage characteristics to users and revenue,” he added, raising his price target to a Street-high view of $275.Monness, Crespi, Hardt also raised its Spotify target to $275 on Friday, saying the podcasts deals offer “the opportunity for increased engagement on the platform” as well as the potential for growth in monthly active users.Spotify shares gained as much as 7.3% on Friday...
(Bloomberg) -- Stocks rose across most major global markets as investors cheered the latest breakthrough in trade negotiations between America and China and the start of stimulus talks in Europe. Treasuries edged lower.The benchmark S&P 500 rose for a second day as reports that China plans to accelerate purchases of American farm goods to comply with the phase one trade deal boosted risk appetite. Still, with uncertainty over how quickly economies can emerge from lockdowns, and a welter of options set to expire in a quarterly event know as quadruple witching, investors are bracing for potential bouts of volatility. Trading was 17% higher than the 30-day average at this time of day.In Europe, attention turned to negotiations over the EU’s proposed 750 billion-euro ($840 billion) program to help economies rebound from lockdowns, which helped send the Stoxx 600 Index up as much as 1.2% and strengthened the euro.Wirecard AG shares bucked...
Cloudflare CEO and Founder Matthew Prince joins Yahoo Fiance's Alexis Christoforous and Brian Sozzi to discuss a rise in cyberattacks amid the coronavirus pandemic, in addition to its preparation for the 2020 election and more. ...
(Bloomberg Opinion) -- As the coronavirus pandemic continues, Bloomberg Opinion will be running a series of features by our columnists that consider the long-term consequences of the crisis. This column is part of a package on the future of tech and innovation.For years, artificial intelligence seemed on the cusp of becoming the next big thing in technology — but the reality never matched the hype. Now, the changes caused by the Covid-19 pandemic may mean AI’s moment is finally upon us.Over the past couple of months, many technology executives have shared a refrain: Companies need to rejigger their operations for a remote-working world. That’s why they have dramatically increased their spending on powerful cloud-computing technologies and migrated more of their work and communications online. With fewer people in the office, these changes will certainly help companies run more nimbly and reliably. But the centralization of more corporate data in the cloud is also precisely what’s needed for companies...
The stock market is heating up again, and some Wall Street pros see the light at the end of the tunnel. Among those adapting a bullish approach is Wells Fargo's head of equity strategy, Chris Harvey, who believes the worst is behind us, freeing up the S&P 500 to continue its ascent. “Typically the first impact is generally the worst impact. We’re sticking to this belief that the worst is over, that we’re going to be able to mitigate it [...] Obviously it’s not all unicorns and rainbows, and we’ll have pullbacks from time to time. But we think the pullbacks will be shallow.”Bearing this in mind, some investors are on the hunt, looking to snap up compelling names before shares re-embark on an upward trajectory. For the more risk-tolerant, focus has locked in on penny stocks, or tickers trading for less than $5 per share. The appeal is clear; the...
The rally in Carvana (NYSE:CVNA) truly has been incredible. After plunging during the market's panic in March, CVNA stock has gained 450% from its lows, and trades at an all-time high.Source: Jonathan Weiss / Shutterstock.com On its face, the rally seems like far too much. Carvana is unprofitable. The coronavirus pandemic disrupted its business, as it did so many others. Effects may linger for the rest of the year, if not longer.And yet CVNA stock is now up 34% so far in 2020. It has a market capitalization over $20 billion. Incredibly, Carvana is now more valuable than CarMax (NYSE:KMX), whose revenue is almost five times as large.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI don't think that knee-jerk reaction is quite right. Investors can't make the same mistake now that the market did in March: focusing on short-term disruption while ignoring long-term potential. Carvana has real long-term potential.Still,...
