Day: August 4, 2020

Big tech’s record run in early innings

spike 2 months ago

He hit No. 1 on Institutional Investor’s all-star analyst list for software 17 times in a row.

Now as an investment banker, Rick Sherlund is a tech power player who believes the group’s record run is in the early innings.

During Tuesday’s exclusive interview on CNBC”s “Trading Nation,” he delivered a bullish case for tech, emphasizing demand for cutting-edge software as the U.S. battles the fallout from the coronavirus pandemic.

“Software is not only eating the world, it’s leading the market higher,” said the Bank of America Merrill Lynch vice chairman of technology investment banking. “Covid has accelerated the

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Stock futures flat as investors await stimulus bill

spike 2 months ago

U.S. stock futures were flat in overnight trading as investors eye any progress from Washington on a new coronavirus stimulus package.

The White House and Democratic congressional leaders have reported some progress in the negotiations, but they remain apart on some issues.

Dow futures rose 14 points. S&P 500 and Nasdaq-100  futures ticked 0.01% and 0.10% lower, respectively. 

“I think the expectation for the market is that we are going to get that stimulus,” Ally Invest’s Lindsay Bell said on CNBC’s “Closing Bell” on Tuesday. “There may be a few weeks of waiting while these folks don’t get their extra

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Nikola, Twilio, Novavax and more

spike 2 months ago

Jeff Lawson, co-founder and chief executive officer of Twilio Inc., center, rings the opening bell on the floor of the New York Stock Exchange in New York, Sept.17, 2018.

Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines after the bell: 

Disney — Disney’s stock jumped 4% after the closing bell. Disney reported third-quarter financial results that beat analysts’ expectations for earnings but fell short of revenue predictions. Disney posted earnings of 8 cents per share excluding items on revenue of $11.78 billion compared to estimates of a loss per share of 64 cents on

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Beyond Meat (BYND) Q2 2020 earnings

spike 2 months ago

Plant-based Beyond Meat products seen in a Target superstore.

Alex Tai | LightRocket | Getty Images

Beyond Meat on Tuesday reported its U.S. grocery sales nearly tripled in the second quarter as more consumers cooked its meatless burgers and sausages at home, but extra costs related to the coronavirus pandemic resulted in a quarterly loss.

Shares of the stock fell as much as 5% in extended trading.

Here’s what the company reported for the quarter ended June 27 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Net loss per share: 16 cents
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