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(Reuters) - GameStop Corp shares fell 12% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it takes advantage of a dizzying rally in its shares this year on the back of a Reddit-driven retail trading frenzy.
FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed GameStop logo in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
The company said it would sell up to 3.5 million shares and use the proceeds to speed up the shift in its business model to e-commerce in an overhaul being led by top shareholder and board member Ryan Cohen.
By Reuters Staff
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FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo
(Reuters) -Shares of Pioneer Natural Resources declined more than 6% as the U.S. oil producer’s $6.4 billion acquisition of rival DoublePoint Energy months after a large deal took investors by surprise, with the sector still recovering from last year’s crash.
Pioneer’s fourth multi-billion shale deal this year comes as investors in the shale patch have called on producers to focus on cash flow and shareholder returns, rather than spending to grow, as demand remains low due to the COVID-19 pandemic.
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FILE PHOTO: 888 7th Ave, a building that reportedly houses Archegos Capital, is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., March 29, 2021. REUTERS/Carlo Allegri/File Photo
(Reuters) - Archegos Capital Management’s ill-fated bets weighed on ViacomCBS, Discovery Inc and other media stocks on Monday, and at least one analyst said it remained unclear when banks exposed to the troubled family office would be done selling off their positions in the shares.
Archegos, run by U.S. investor Sung Kook “Bill” Hwang, was caught on the wrong side of debt-laden bets on the stocks of these companies last month, forcing several Wall Street banks that acted as brokers to sell shares in the companies.
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(Reuters) - Tesla Inc was set to add about $50 billion to its market value as the electric car-maker’s shares surged on Monday, after it posted record deliveries on strong demand in China that helped it offset the impact of a global shortage in auto parts.
FILE PHOTO: Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker s showroom in Beijing, China January 5, 2021. REUTERS/Tingshu Wang/File Photo
The stock jumped nearly 8% in pre-market trading and it was on track to hit its highest in over a month.
The company said on Friday it was encouraged by the strong reception of its Model Y crossover in China and it was quickly progressing to full production capacity.
By Reuters Staff
2 Min Read
FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File Photo
(Reuters) -Shares of Pioneer Natural Resources declined more than 6% as the U.S. oil producer’s $6.4 billion acquisition of rival DoublePoint Energy months after a large deal took investors by surprise, with the sector still recovering from last year’s crash.
Pioneer’s fourth multi-billion shale deal this year comes as investors in the shale patch have called on producers to focus on cash flow and shareholder returns, rather than spending to grow, as demand remains low due to the COVID-19 pandemic.