(Bloomberg) -- A stalled initial public offering, a failed merger, and one pandemic later, DraftKings Inc. is public.The Boston-based sports-betting company jumped rose in its first trading day after completing a reverse merger with Diamond Eagle Acquisition Corp., a special purpose acquisition company. The $3.3 billion deal combining DraftKings and the gaming technology firm SBTech was approved Thursday.Its shares, after climbing as much as 18%, closed up 10% to $19.35 in New York, giving the company a market value of $6.06 billion.The DraftKings debut shows the continuing lure of both sports and public markets, even as both have been hit by the coronavirus pandemic like a 300-pound NFL lineman. And the company took plenty of hits on its road to victory.In 2015, the company was in talks with investment banks about a potential IPO only to face a market selloff that quashed its plans. After flooding the market with advertising, it...
The stock market caught a nice rally on Friday, sending it higher into the weekend as investors prep for another busy week of earnings. With that in mind, let's look at a few top stock trades for Monday. Top Stock Trades for Monday No. 1: Intel (INTC) Click to Enlarge Source: Chart courtesy of StockCharts.comShares of Intel (NASDAQ:INTC) were getting buried after the close on Thursday. That's why I said by the close of trading on Friday, Intel still had a chance to hold a few key levels.That's exactly what it did.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAfter opening near $56.20, shares began a slow but steady rally, as Intel erased most its losses ahead of the close. That means the stock held the $56 level, as well as the 50% retracement for the 2020 range. * 30 Consumer Stocks to Buy Once the Coronavirus Pandemic Passes Now...
Stocks rose Friday on the heels of a volatile session a day earlier as crude oil prices advanced. The latest batch of economic data released Friday morning showed increasing stress on the U.S. manufacturing sector, with durable goods orders down the most in six years in March....
After being closed for close to a month, U.S. manufacturing plants for Daimler Trucks North America, Yokohama Corporation of North America, and Cooper Tire & Rubber Company have either restarted production or are in the process of restarting their assembly lines, with Detroit's Big Three still in limbo. ...
Naturally, with most of the country -- and much of the world -- stuck in some form of quarantine, it's easy to get discouraged about the financial markets. However, a few companies have emerged from this crisis stronger than ever. One of those names is Zoom Video Communications (NASDAQ:ZM).Source: Michael Vi / Shutterstock.com Similar to another favorite of mine, Teladoc Health (NYSE:TDOC), Zoom's business found massive catalysts due to social distancing and shelter-in-place protocols. Not surprisingly, then, ZM stock has absolutely skyrocketed since the pandemic began.As we'll discuss shortly below, Zoom Video's subscriber growth has been enormous. Again, with corporations and later state governments requesting workers to telecommute, impacted businesses scrambled for the best solution. For ZM stock, it's not at all insignificant that industry leaders have overwhelming chosen Zoom's internet conferencing platform.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBut as with any success story, detractors and disrupters have...
Stocks rose Friday on the heels of a volatile session a day earlier, when stocks were whipsawed amid conflicting signals over the results of a clinical trial for a coronavirus antiviral treatment candidate. The latest batch of economic data released Friday morning showed further signs of stress on the U.S. manufacturing sector, with durable goods orders down the most in six years in March....
