Boeing’s Stock Takes Another Nosedive —
Over the weekend, Ethiopia’s transport minister said flight data from
last week’s downed plane showed “clear similarities” to the crash of
Lion Air Flight 610 last October, hinting at a more widespread issue for
Boeing. In addition, regulators are also stepping up pressure on the
$200 billion company in regards to its approval process for their 737
MAX aircrafts. Let’s wait for the dust to settle before betting any
money on BA stock.
Buyout Millionaires Get Paid (Again!) —
The buyout space is booming again this morning. Fidelity National
Information Services agreed to buy Worldpay, a key player in the
international payments market, for $34 billion in cash and stock. This
is the largest deal to date in the space.
addition, Deutsche Bank got the green light to proceed with talks to
acquire German rival Commerzbank. The deal was on hold until potential
job cut plans were reviewed by regulators. Both of these deals are great
news for investors in these companies, as buyers typically pay big
premiums when acquiring whole companies.
Earnings on Deck —
This week, there are plenty of companies reporting earnings that you
should pay attention to. That’s because these reports not only give
details on the state of these individual companies, but they also give
valuable insights into their respective industries and the economy as a
Tilray and Del Taco report earnings. On Tuesday, FedEx, Tencent, DSW
and Michaels report earnings. On Wednesday, General Mills, Micron,
Wheaton Precious Metals and Williams Sonoma report earnings. And on
Thursday, Darden Restaurants, Nike, Cintas, Canadian Solar and Conagra
Volkswagen Gets Sued —
The U.S. Securities and Exchange Commission (SEC) sued Volkswagen late
last week alleging that the German automaker "perpetrated a massive
fraud" during its diesel emissions scandal.
to CNBC, the complaint claims Volkswagen made false and misleading
statements to investors and underwriters about vehicle quality,
environmental compliance and the company’s financial standing, which
gave Volkswagen a financial benefit when it issued securities at more
attractive rates for the company. The stock continues to suffer since
the scandal became public.
Tech IPOs Dead Ahead! —
Today, Lyft Inc. begins its “roadshow” towards its much awaited IPO
next week. This “roadshow” is basically a series of meetings with large
investors to drum up interest in the upcoming offering. As of now,
shares are expected to value the company between $21-23 billion at a
price of $63-68 per share.
But remember, this is only the first of many IPOs this year, Uber, Airbnb, Pinterest, Slack Technologies and Instacart are also expected to go public this year. So stick with The Daily Edge
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