Features & market analysis news

IOTA (MIOTA/USD) price has gained nearly 10% in the last week as the crypto market continues to recover from the March lows. Separately, the German Federal Ministry has selected the IOTA Foundation as a finalist in the competition to develop innovative tech solutions to help fight the COVID-19 outbreak.  Fundamental analysis: IOTA among the finalists The German Federal Ministry for Economic Cooperation and Development (BMZ) selected IOTA Fou...

USD/JPY is on the brink of breaking out of the descending wedge as the Bank of Japan (BoJ) called for an unscheduled meeting that is likely to result in introducing new measures to support the embattled economy.  Fundamental analysis: New measures to provide funds The BoJ scheduled an extraordinary meeting on Friday, May 22, to discuss a new set of activities aimed at providing fresh funds to the economy and businesses, the Nikkei reports. A...

Shares of Nvidia (NASDAQ: NVDA) have jumped 4% today to hit a fresh all-time high above $350 after BMO Capital Markets upgraded the stock to “outperform” from “market perform”.  Fundamental analysis: Nvidia “uniquely positioned” BMO Capital Markets upgraded Nvidia stock to “outperform” from “market perform” after describing the company as being “uniquely positioned” to continue to be the “prime beneficiary” of the data-center workloads. “We...

Shares of Exor NV (BMV: EXO1N) crashed 10% last week after the proposed sale of the reinsurance business collapsed. Italy’s biggest company saw its stock price lose more than 50% of the value since the COVID-19 outbreak hit northern Italy.  Fundamental analysis: Exor facing financial difficulties Exor, the holding company of Italy’s Agnelli family, is struggling to raise cash after the sale of the “PartnerRE” reinsurance business to Fr...

DAX Index is trading 4% higher today on improving risk appetite as the economies worldwide step up the reopening process. As expected, Germany is warning of a significant slowdown in the economic activity for the second quarter. Fundamental analysis: Bundesbank expects the momentum to pick up In its regular monthly report, Germany’s Bundesbank said that it expects the national economic activity in the second quarter to come in significantly below...

Blockchain technology came as a revolutionary new invention that promises transparency, immutability, and simply — truth. However, one thing that developers seemingly forgot about is navigation.  In the sea of data that is even a single blockchain, finding the specific block, or a specific transaction comes as nearly an impossible task. Bitcoin’s blockchain, for example, grows a block longer after every 10 minutes, and it has been grow...

Facebook’s own digital coin project – Libra – was introduced as a new global payment system where each Libra token would be supported by several traditional currencies. The Libra Association released an updated whitepaper last month, announcing its plan to launch several stablecoins, each stablecoin backed by a single nation’s currency, in an attempt to appease regulators.  After Visa, Mastercard, eBay, Stripe, and Mercado Pago h...

Ripple is developing its own lending solution, said a company representative for the Block. In the meantime, the price action is struggling to stay above $0.20 as the sellers eye a trip to $0.1750. Fundamental analysis: Ripple confirms it is venturing into lending The new solution will offer working capital loans to RippleNet clients and the company is now looking for a new boss of product management for the loan unit.  “We are expandi...

Shares of Computacenter (LON: CCC) skyrocketed today after the company said that it managed to secure some substantial technology sourcing contracts as the IT business continues to boom during the work-from-home regime.  Fundamental analysis: The firm secures big contracts Computacenter, the UK-based provider of IT services, said that it has managed to further grow its business on a surge in demand for its services amid the work-from-home se...

Shares of Foxconn (OTCMKTS: FXCOF) closed the day 1.2% in red after the tech firm said its first-quarter profit crashed nearly 90% amid the COVID-19 outbreak. Fundamental analysis: Stabilization expected in the second quarter The Taiwanese technology giant Foxconn said it earned T$2.1 billion ($70.25 million) in the first quarter, coming nowhere near the T$8.88 billion forecasted from the analysts. Apple’s main supplier reported a profit of T$19....

Shares of Barratt Developments (LON:BDEV) fell 5% yesterday as the investors’ concerns about a second wave hit and global recession are growing.  Fundamental analysis: FTSE Index selloff, Barratt struggles The UK investors are growing increasingly concerned that a fast recovery will not happen as many countries around the world report an increase in the infection cases after the lockdown measures were loosened.  The FTSE Index fell 2.5%...

Shares of Cisco Systems (NASDAQ: CSCO) jumped 6% today after the tech giant reported better-than-expected results for its fiscal third-quarter.  Fundamental analysis: Slowdown in business activity noted in April  Cisco reported adjusted earnings of $0.79 per share, higher than $0.69 per share expected from the market. Moreover, the tech giant said it recorded a revenue of $11.98 billion, again better than $11.70 billion expected from Wall St...

EUR/USD is testing the key intraweek support just below the $1.08 handle as the sellers regained control yesterday. The European Central Bank (ECB) has warned that the COVID-19 outbreak and national lockdown measures that followed will cause a “sharp contraction in economic growth”. Fundamental analysis: ECB warns of a bumpy road In its latest Economic Bulletin, the ECB warned that the eurozone economy is likely to shrink “at a speed and magnitud...

Shares of Grubhub (NYSE: GRUB) exploded nearly 30% yesterday after it was reported that Uber (NYSE: UBER) has launched a takeover attempt. The deal could be completed as soon as this month, although it has already drawn much criticism from lawmakers and city officials.  Fundamental analysis: Uber comes under fire The ride-hailing giant made a takeover approach for the meal-delivery company Grubhub in recent days, the New York Times reported. Acco...

Shares of Ryanair (LON:RYA) closed the day 2.5% higher after the embattled airliner said it aims to resume 40% of its planned July flights in a bid to stop the financial bleeding.  Fundamental analysis: Ryanair aims for 1,000 flights In a statement issued today, Ryanair said it aims to ramp up its flight schedule as of July 1, subject to the lifting of restrictions by national and EU authorities. The Ireland-based airline is looking to start oper...

GBP/USD is attempting to break lower as the price action tests the support around $1.23. Bank of England’s (BoE) Deputy Governor for Monetary Policy, Ben Broadbent, says that it is “quite possible” that further monetary easing will be required to support the economic activity. Fundamental analysis: BoE ready to step in Invezz reported last week that the BOE’s Monetary Policy Committee (MPC) decided to keep its key interest rates at a histor...

Shares of Dropbox (NASDAQ:DBX) have gained around 13% in the past few days after the tech company reported a strong performance in the first-quarter of the year. The buyers are now likely to push the price action towards $23.70, which hosts an important horizontal resistance.  Fundamental analysis: First-ever quarterly profit Dropbox reported adjusted earnings of $0.17 per share, higher than $0.14 expected from the market analysts. The reven...