Lawmakers on Capitol Hill had a busy 2021 not just crafting legislation but also in terms of personal financial transactions, with members of Congress buying and selling an estimated $355 million worth of stocks. U.S. representatives and senators or their immediate family members bought around $180 million and sold around $175 million worth of company…
US Lawmakers Bought and Sold Over $350 Million Worth of Stocks in 2021
Citrix Agrees to Be Acquired in $16.5 Billion Deal
Citrix Systems Inc. reported fourth-quarter FY21 revenue growth of 5 percen year-on-year to $851 million. The non-GAAP net income was $186 million versus $183 million last year. Citrix reported a non-GAAP EPS of $1.47. Vista Equity Partners and Evergreen Coast Capital affiliates agreed to acquire Citrix in an all-cash transaction valued at $16.5 billion, including debt. Citrix shareholders…
ESG Investing—The Great Wall Street Money Heist
Commentary Wall Street is once again in the midst of a “money heist” from naive investors. This time in the form of “woke activism” called ESG. ESG refers to the Environmental, Social, and Governance risk theoretically embedded in a business. However, while ESG investing is about taking these risks into account in investment decisions, these are all the things NOT…
Here’s Why UBS Is Bullish on Microchip Tech
UBS analyst Pradeep Ramani upgraded Microchip Technology Inc. to Buy from Neutral with a price target of $92, up from $82, suggesting an upside of 21.5 percent. The analyst states that the Analog cycle is transitioning to the inventory build phase. However, it still “has legs” at least through 2022 and likely into the first half of 2023…
Business Chart of the Day: Is the Correction Over?
Shares of the SPDR S&P 500 ETF Trust may be ready to move higher. Shares have broken out of the trading range they have been in over the past week. If SPY does rally, there is a good chance it runs into resistance around $451. This level was support and sometimes in financial markets, levels that had…
Could Apple Stock Be in for a Bumpy Ride Later in 2022?
Apple Inc reported strong first-quarter results last week and expectations for continued outperformance are running high. But an analyst at Credit Suisse is bracing for a more muted performance in the current calendar year and here’s why. The Apple Analyst Credit Suisse analyst Sami Badri maintained a Neutral rating on Apple shares and increased the price target…
Cybercurrency Exchange FTX’s Valuation Hits $32 Billion Despite Downturn in Crypto Market
The cryptocurrency exchange FTX announced on Jan. 31 that it saw its valuation swell to $32 billion, after it had raised $400 million from investors including SoftBank, in a new round of funding. Other investors in this fundraising round include Singapore’s Temasek Holdings Tiger Global and the Ontario Teachers’ Pension Plan Board, according to FTX….
Goldman Downgrades US GDP Forecast, Predicts More Downside Risk for S&P 500
Investment banking giant Goldman Sachs has trimmed its forecast for U.S. economic output in 2022, predicting growth will stall early in the year due to fading fiscal support and the impact of Omicron. Goldman has cut its U.S. GDP forecast for all of 2022 to 3.2 percent from a previous projection of 3.8 percent, according…
Co-CEO Reed Hastings Buys $20 Million of Netflix Shares Amid Stock Collapse
According to a regulatory filing with the Securities and Exchange Commission on Friday, Netflix Inc. Co-Chief Executive Officer Reed Hastings recently bought $20 million worth of shares in the company. On Thursday, Jan. 20, after the bell, Netflix projected weaker subscriber growth going forward, causing the stock to plunge. In late December 2021, Netflix stock traded at…
Cathie Wood’s ARK Buys the Dip in Tesla Shares After Months of Selling
Star stock picker and noted Tesla Inc. bull Cathie Wood’s ARK Invest took advantage of a slump in the electric-car maker’s shares following its results, piling into the stock after months of paring back holdings. The investment company bought 33,482 Tesla shares on Thursday, worth nearly $28 million based on the stock’s last closing price,…
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