Nasdaq Drops, Chip Stocks Crater As Bond Yields Bite: Stock Market Today
Fabrinet's margin miss triggered a brutal selloff across the stock market today, while $91 Brent kept equities under pressure
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Fabrinet's margin miss triggered a brutal selloff across the stock market today, while $91 Brent kept equities under pressure
Read original at benzingaUS stock futures fall, Nasdaq 100 futures down 1%. Fabrinet (FN) shares drop 9.1% after earnings report. Other stocks also decline.
Read original at benzingaGainers Auddia (NASDAQ:AUUD) shares increased by 17.5% to $1.14 during Monday's after-market session. The company's market cap stands at $5.4 million. As per the press release, Q2 earnings came out yesterday.
Read original at benzingaUber launches a €41.50/share takeover bid for Delivery Hero after BaFin approval. Acceptance runs through Nov. 5. Get the details.
Read original at benzingaUber shares have fallen 20% from their all-time high while the S&P 500 has risen 14%, driven by investor concerns about autonomous vehicle technology disrupting its business model. However, the author argues this bearish view is unwarranted, citing Uber's strong financial performance (24% gross bookings growth, 13.3% operating margin), massive user base of 208 million monthly active users, powerful network effects, and strategic partnerships with AV companies. The author contends that a hybrid model of human drivers and self-driving vehicles will likely coexist, and Uber's matching technology and geographic diversification position it well to compete.
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