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The British pound slammed into a major level during the week, testing the ¥140 level. However, although there is supposedly a deal between Boris Johnson and the EU, Parliament has not voted on it and will do so during the weekend. Buckle up, this is going to be brutal....
(Bloomberg) -- Software companies fell on Friday, extending recent losses after results from Atlassian Corp. topped analyst forecasts yet failed to provide enough upside to assuage concerns over the group’s valuation.Atlassian shares dropped as much as 11% to their lowest level since May. The stock was on track for its third straight decline, as was Veeva Systems Inc., off 5.4%, and ServiceNow Inc., down 3.8%, which reports its own results next week. Coupa Software Inc. sank 8.4% in its fourth straight drop, a period over which it has shed more than 20% of its valuation. Twilio Inc. was down 4.5%. Alteryx Inc. was down 7.2% and Crowdstrike Holdings Inc. dropped 7.3%, heading for the eighth decline in the past nine sessions.A basket of high-multiple software stocks tracked by Goldman Sachs fell 5.7% in its fifth straight decline, hitting its lowest since March, while the Russell Midcap Technology Growth Index was down...
Last month, Hurd went on a medical leave for unspecified health reasons, while Catz and founder Larry Ellison took over his responsibilities during the absence. "Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle," Ellison wrote in an email to company employees. Hurd and Catz were named co-CEOs in 2014, after Ellison decided to step aside to focus on his role as chief technology officer....
The Australian dollar initially fell during the week but has turned around quite rapidly to reach towards the 0.69 level. This is an area that has caused support and resistance in the past, so it will be interesting to see whether or not we can take off to the upside....
UPS Inc (NYSE: UPS) subsidiary Ware2Go has released a case study shining a spotlight on the booming CBD pet products industry. Holistic Hound, the featured client, is a pioneer in the niche market, having launched its first cannabidiol supplements for cats and dogs in 2016. Ware2Go, launched in 2018 to help small businesses expand, came up with a multifaceted supply chain solution giving Holistic Hound access to warehouses closer to its customers and real-time visibility into inventory....
(Bloomberg) -- America’s socialists reckon they’re on a roll. Next stop: Trump country.The movement has long been confined to the fringes in U.S. politics, and also on the map. It’s associated nowadays with hipster enclaves of the West Coast, or New York -- where the country’s most famous socialists are teaming up on Saturday, when Representative Alexandria Ocasio-Cortez will endorse Bernie Sanders for president at a rally.But now it’s spreading across the Rust Belt, Midwest and South. At least 60 branches of the Democratic Socialists of America, the most prominent among a bunch of reinvigorated leftist groups -- have sprung up in the the past year, mostly in conservative areas where President Donald Trump did well with voters.How the group fares in such places will be a bellwether for something bigger.Cold-War StigmaThe DSA is battling a stigma that’s been associated with the S-word in America since at least the Cold War....
New economic numbers out today show the lowest economic growth in three decades in China. The numbers are released against a backdrop of the trade war. AEI's Claude Barfield joins Yahoo Finance's Julie Hyman, Adam Shapiro, Dan Howley and Bryn Mawr Trust's Jeff Mills....
