Wednesday, January 27, 2021

Some Wall Street Gainers In Thursday Trading

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On Thursday, after a bout of weakness at the opening, Snowflake Inc (SNOW) jumped 16.13% to $339.89 to conclude the session. Following the IPO, the cloud market player has just published its first quarterly results. The company posted an increased loss in the quarter the quarter, driven by sharply higher expenses.

The Boeing Company’s (BA) shares rose 5.96 percent to $237.20. Despite nearly two years of immobilizations, one of the key pillars of the growth of Ryanair remained relying on the 737 MAX aircraft. The low-cost carrier has only formalized its order for an additional 75 aircrafts, a deal worth $9.4 billion at list price. Ryanair plans to take delivery of the first aircraft in early 2021.

Tesla Inc (TSLA) jumped 4.32 percent to $593.38 on Wall Street, getting a boost by investment bank Goldman Sachs recommendation, which has just lifted its rating from “Neutral” to “Buy” and raised its price target to $780 for the California-based electric car pioneer. The bank notes that electric cars are being adopted more rapidly than expected.

JD.com Inc (JD) rose 2.26 percent to $86.29. As part of its launch (IPO) in Hong Kong, the Wall Street-listed Chinese company benefited from the successful $3.5 billion fund raising of its digital health care unit.

Alibaba Group Holding Limited (BABA) was up 2.14 percent to $266.91. According to individuals with knowledge of the matter cited by Reuters, Ant Group is reportedly exploring a 30 percent sale of Paytm. The proposed sale will follow political tensions in recent months between India and China. The stake in question, considering Paytm’s $16 billion valuation at its last funding round, could be priced at $4.8 billion. Tencent News, citing its sources, said that regulators were discussing the restructuring and possible spin-off of its financial services business with Ant Group.

Salesforce.com Inc (CRM) stock remained stable at +0.09 percent to $220.97 while Slack Technologies Inc (WORK) took a dip at -0.47 percent to $42.51. In an interview with The New York Times, Marc Benioff, CEO of the company that has just officially announced its bid for Slack Technologies at $27.7 billion, snubbed Microsoft (-0.5 percent) saying “What is this company?, How do you spell it?”

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