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Dropbox Analysts Raise Price Targets After Fourth-Quarter Report

Dropbox shares jumped Friday, after the file-sharing platform reported strong fourth-quarter results and analysts raised their stock-price targets. Revenue jumped 19% in the quarter, Dropbox boosted forecasts for its operating margin and free cash flow in 2020 and beyond, and the board authorized a $600 million stock buyback. The estimate for operating margin now stands at 28% to 30%, which Dropbox expects to achieve by 2024, up from its initial estimate of 20% to 22% five months ago. The increase in that forecast…

Oil ends lower on reported rift in Saudi-Russian alliance as coronavirus feeds demand anxiety

Oil futures ended with a loss on Friday, pressured by a reported rift in the crude-production alliance between Saudi Arabia and Russia, as concerns about the spread of COVID-19 in China and beyond take a toll on expectations for energy demand. Prices for the U.S. and global crude benchmarks, however, posted weekly gains, partly supported by efforts by China to stimulate the economy, which eased some concerns over the virus outbreak’s impact on the economy. U.S. government data on Wednesday also revealed a…

Dow Futures, Coronavirus, Nike, Boeing, Groupon – 5 Things You Must Know Wednesday

Here are five things you must know for Wednesday, Feb. 19: 1. -- Stock Futures Rise Though Focus Remains on Virus Outbreak Stock futures were higher Wednesday and Asian shares traded mostly to the upside but the focus remains on the coronavirus outbreak in China that has now claimed more than 2,000 lives. Contracts tied to the Dow Jones Industrial Average rose 66 points, S&P 500 futures were up 7.20 points and Nasdaq futures gained 31 points. The Nasdaq closed at a record high Tuesday even after Apple issued a…

Tesla on Track for Record High on Another Price Target Boost

Shares of Tesla leaped higher on Wednesday, regaining their record highs, fueled by yet another analyst upgrade, this time from Piper Sandlers Cos., who expects the electric vehicle company to not only keep making money on battery-powered cars but also on energy generation and storage to run them. Shares of Tesla gained more than 7% in premarket trading, marking them to open ahead of their most recent record close of $887.06 reached on Feb. 4, after Piper Sandler analysts Alexander Potter and Winnie Dong raised their…

Expedia Reports Strong Earnings Gains

Expedia Group shares soared after the online travel company reported strong earnings for the fourth quarter. Revenue rose 7% in the quarter to $2.75 billion from $2.56 billion in the year-ago quarter. Net income climbed to $76 million, or 52 cents a share, from $17 million, or 11 cents a share. Gross bookings increased 6% to $23.25 billion, and stayed lodging room nights gained 11%. “Since our management change in December we have re-focused the company on our core operations, which had suffered for much of…

Nvidia Gains After Beating Estimates on Data Center Strength: 6 Key Takeaways

A jump in demand from cloud giants helped Nvidia comfortably top analyst estimates. On Thursday afternoon, the GPU giant reported January quarter (fiscal fourth quarter) revenue of $3.11 billion (up 41% annually, following a 24% drop in the year-ago period), GAAP EPS of $1.53 and non-GAAP EPS of $1.89. Those numbers respectively beat consensus analyst estimates of $2.96 billion, $1.34 and $1.67. Nvidia also guided for April quarter revenue of $3 billion, plus or minus 2%. Though Nvidia says it cut this outlook by $100…

Oil ends higher as investors see slowdown in new coronavirus cases

Oil futures settled with a gain on Tuesday to recoup some of the losses seen a day earlier when they posted their lowest settlement in more than a year. Analysts tied gains to a slowdown in the number of new cases in China of COVID-19, the disease caused by the coronavirus that emerged in the country late last year. Worries remain, however, over how the outbreak will affect crude demand, amplified by uncertainty over whether the Organization of the Petroleum Exporting Countries and its allies will agree to an…

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