Sources confirmed on Monday that ByteDance had picked Oracle Corporation (NYSE: ORCL) over Microsoft as a partner to save the U.S. arm of its Chinese video-sharing social networking service, TikTok, amidst the rising tensions between the two largest economies of the world. Oracle’s stock remained flat in premarket trading on Monday. Shares of the company are currently exchanging hands at £44.20 per share. In comparison, Oracle had tumbled to £31...

Gilead Sciences Inc (NASDAQ: GILD) said late on Sunday that it will buy Immunomedics (biotech company) for £16.32 billion. The acquisition will help Gilead expand its footprint in oncology as it brings Immunomedics (NASDAQ: IMMU) promising cancer drug, Trodelvy, under its umbrella. At £50.90 per share, Gilead Sciences is currently trading around the same level in the stock market at which it started the year 2020. It had touched a year to date hi...

In an announcement on Monday, Amazon Inc. (NASDAQ: AMZN) expressed plans of hiring another batch of 100 thousand new workers in the United States and Canada. The company said that demand for its e-commerce segment has remained strong even after the government eased COVID-19 restrictions. Monday’s announcement marks Amazon’s fourth hiring spree this year in the U.S. Shares of the company were reported flat in premarket trading on Monday. As of Fri...

Nvidia Corp (NASDAQ: NVDA) said on Monday that it will purchase Arm (Cambridge-based semiconductor and software design company) for £31.10 billion from Japan’s SoftBank. Arm is a prominent supplier of chips to several companies from across the globe, including the U.S. tech giant, Apple Inc. Shares of Nvidia remained flat in premarket trading on Monday. The stock closed the regular session on Friday at £378.31 per share versus a per-share price o...

AstraZeneca plc (LON: AZN) said on Monday that it is set to resume its late-stage clinical trial of the experimental COVID-19 vaccine. The optimism was well received as the pharmaceutical company’s stock rallied to deliver the strongest boost to the FTSE 100 on Monday. Shares of the company opened about 1% up on Monday but lost the entire gain in the next hour as President Donald Trump ordered drug companies to reduce prices in the United States...

In an announcement on Monday, SThree plc (LON: STEM) said that its fiscal third-quarter reported a decline in its net fees. The company, however, expressed confidence that underlying sequential performance showed signs of improvement after a hit to its results in the fiscal first half due to the Coronavirus pandemic that has so far infected more than 368 thousand people in the United Kingdom and caused over 41 thousand deaths. Shares of the compa...

CEO Patrizio Bertelli of Prada (HKG: 1913) said on Friday that sales had recovered sharply in China since March when its stores started to reopen for the public. Thanks to the pent-up demand, the CEO added, sales in China are now significantly higher on a year over year basis. Shares of the company jumped about 3% in premarket trading on Friday. But it lost the entire gain on market open as the stock tumbled just under 5% in the next few hours. P...

The Kroger Co. (NYSE: KR) published its quarterly financial results on Friday that came in stronger than what the analysts had anticipated for the fiscal second quarter. The company attributed its hawkish performance to COVID-19 that fuelled online food sales in recent months. The retailer had also blown past Wall Street estimates in the prior quarter (Q1). Kroger said that it earned 56.91 pence per share in the second quarter. In terms of revenu...

Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY) published its quarterly financial results on Thursday after the bell, that topped analysts’ estimates for revenue in the fiscal second quarter. Its loss per share in Q2, however, came in narrower than expected. Shares of the company were seen trading about 1.5% down in extended trading on Thursday. Including the price action, Dave & Buster’s is now exchanging hands at £13.79 per share vers...

Rio Tinto plc (LON: RIO) made two of its deputies and the CEO step down on Friday after excessive pressure from its shareholders that have been outraged on Rio’s mine expansion in Western Australia that ruined two historically significant ancient caves. Shares of the company were reported almost flat in premarket trading on Friday. On market open, however, Rio Tinto gained about 2% to hit an intraday high of £48.70 per share. On a year to date ba...

In an announcement on Friday, Ashmore Group plc (LON: ASHM) said that it concluded fiscal 2020 with a higher pre-tax profit than the previous year. The company acknowledged that the Coronavirus pandemic weighed on its assets under management, however, expressed confidence that signs of recovery were now evident and client flow was quickly stabilising. Ashmore Group remained almost flat on average in premarket trading on Friday. On market open, ho...

Hurricane Energy plc (LON: HUR) said on Friday that its revenue in the first six months of the current fiscal year was higher than last year. But Lancaster field related write-downs still resulted in the company swinging to a broader loss in the fiscal first half. Shares of the company slid roughly 30% in premarket trading on Friday. The stock continued its decline and lost another 30% on market open. At 3.12 pence a share, Hurricane Energy is no...

Chewy Inc. (NYSE: CHWY) released its quarterly earnings report on Thursday that highlighted the company to have performed better than Wall Street estimates in the recently concluded quarter. Chewy had also topped estimates for earnings in the prior quarter (Q1), as per the report published in June.   Shares of the company tanked about 2.5% in extended trading on Thursday. At £45.36 per share, Chewy is currently more than 100% up year to date...

Peloton Interactive Inc (NASDAQ: PTON) publish its financial results on Thursday after the bell that highlighted an unprecedented 172% increase in sales in the fiscal fourth quarter. The company said that its high-tech treadmill and stationary bike were greatly in demand in recent months as COVID-19 restricted people to their homes. Peloton also expressed confidence that its sales will remain robust in the upcoming months as it gave its future fi...

Oracle Corporation (NYSE: ORCL) published its quarterly financial results on Thursday after the bell that came in stronger than what the analysts had anticipated for its fiscal first quarter. On the back of its hawkish performance in Q1, the company also gave upbeat financial guidance for the future. Shares of the company jumped roughly 4% in extended trading on Thursday. Including the price action, Oracle Corporation now boasts a per-share price...

In a report on Thursday, Ricardo plc (LON: RCDO) said that it concluded fiscal 2020 in loss attributed to the COVID-19 crisis that drove higher costs in recent months. The company also decided in favour of not declaring its final dividend to cushion the economic blow from the pandemic. Shares of the company closed the regular session about 4% up on Thursday. Ricardo plc is now trading at 345 pence per share versus more than a 100% higher 782 penc...

Dunelm Group plc (LON: DNLM) said on Thursday that its pre-tax profit in fiscal 2020 came in lower than the previous year. The company attributed the decline to the Coronavirus pandemic that pushed it into temporarily closing its stores in recent months. As companies returned to work after the government eased COVID-19 restrictions, though, Dunelm said that trading was showing signs of recovery in recent weeks. Shares of the company lost more tha...

WM Morrison Supermarkets plc (LON: MRW) said on Thursday that its pre-tax profit came in lower in the first six months of the current fiscal year on an annualised basis. The company attributed the decline to the Coronavirus pandemic that has so far infected more than 358 thousand people in the United Kingdom and caused over 41 thousand deaths. Shares of the company closed the regular session about 3% down on Thursday. At 186 pence per share, WM M...

The technology sector is now in a correction from its recent highs but most analysts are not worried about the recent action in technology stocks. Shares of Apple (NASDAQ:AAPL) extended its correction from the record highs above 135, registered in the first week of September. Despite this, there is no reason to panic and as long the price of Apple stock is above $110 this stock is in the “BUY” zone. Traders and investors should focus...

Blockchain developer Zilliqa (ZIL) unveiled its 2020-2021 cohort of companies for its ZILHive Accelerator program, giving blockchain for FinTech and Open Finance (OpFi)-minded developers and investors eight new prospects to watch. The six-month accelerator works with early- and late-stage startups that plan to use Zilliqa’s blockchain platform to build blockchain for FinTech, and the more specific area of OpFi. The program, which started Au...

Shares of Societe Generale (OTCMKTS: SCGLF) weakened more than 15% in the last three months but despite this, I feel this stock could be a ‘buy” right now. Societe Generale is one of France’s major banks which is based on a diversified and integrated banking model. This bank was usually viewed as primarily a corporate and investment bank, but Societe Generale has important retail banking operations in Russia, North Africa and Eu...

Navistar International Corp. (NYSE: NAV) reported to have concluded its fiscal third quarter in loss on Wednesday. The company attributed its dovish performance to the Coronavirus pandemic that weighed on demand for its trucks and parts in recent months. Navistar opened about 6% down in the stock market on Wednesday. In the next hour, however, the stock regained about half of its intraday decline. Shares of the company are now trading at £27.72 p...

Iberia’s Luis Gallego took over the role of the new chief executive officer of the parent organisation, International Airlines Group (LON: IAG), on Tuesday, that effectively marked an end to CEO Willie Walsh’s tenure at the airline holding company. IAG’s shareholders also voted in favour of the company’s plans of raising new equity worth £2.51 billion on Tuesday. IAG’s stock didn’t respond aggressively to the news. Shares of the company remained...

In an announcement on late Tuesday, AstraZeneca plc (LON: AZN) said that late-stage trial for its candidate COVID-19 vaccine had been paused after a study participant met with an unexplained severe adverse reaction. AstraZeneca’s experimental vaccine was among the top candidates of a potential cure for the novel flu-like virus. Spokeswoman Michele Meixell of AstraZeneca commented in an emailed statement on Tuesday: “Our standard review process wa...

Lululemon Athletica Inc. (NASDAQ: LULU) published a stronger than expected earnings report for its fiscal second quarter on Tuesday. The company, however, refrained from giving future financial guidance due to the Coronavirus uncertainty. But its CEO Calvin McDonald expressed confidence that the company will show resilience in the second half. “We are cautiously optimistic with regard to the second half of the year as we continue to navigate the...