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Order Reprints Electric vehicle makers, as a group, are worth more than traditional auto makers. By about $100 billion. It’s an incredible feat for an industry that, measured by cars shipped, is actually still quite small. But the fact that batteries surpassed internal combustion engines makes perfect sense to an investor steeped in disruptive technology. Vinod... Close Electric vehicle makers, as a group, are worth more than traditional auto makers. From

Daniel Acker/Bloomberg Visa and Plaid have called off their merger because of federal antitrust opposition to the deal. The companies struck an agreement to merge a year ago, with Visa (ticker: V) agreeing to pay $5.3 billion for the payments-technology company. Plaid verifies and links accounts on apps like PayPal Holdings ’ (PYPL) Venmo service with a user’s bank account. Visa and Mastercard (MA) had both invested in Plaid, which began in 2012. But in November, the Justice Department sued to block the merger, arguing that Visa was a monopolist in onli...

abby Jones/Bloomberg Affirm late Tuesday priced an offering of 24.6 million Class A shares at $49 each, above the recently increased target range of $41 to $44 a share. The original range was $33 to $38. The IPO price values the consumer lender above $15 billion, once accounting for all outstanding shares and stock options. The offering is led by Morgan Stanley, Goldman Sachs, and Allen & Co. Affirm will trade on Nasdaq under the symbol AFRM. Shares are set to begin trading Wednesday. Affirm had revenue for the June 2020 fiscal year of $509.5 million, up 93% from a year ago, whil...

Order Reprints Text size Even banks that aren’t part of the merger bonanza can expect to see positive effects from a wave of consolidation. Dreamstime After a relatively dormant 2020, Wall Street expects a surge of bank mergers this year. The economic impact of the coronavirus pandemic dampened much of the expected merger activity for 2020—even as it served to intensify the rationale for why banks should combine. Last year, amid the worry over low interest rates and potentially ballooning loan losses, banks were busy navigating through their own issues and less int...

by Wedbush Based on recent momentum in the field and more design wins during the December quarter, we have an increased confidence in the CRNC story and its automotive opportunity. We believe the company is in a strong position to further penetrate original equipment manufacturers heading into 2021. Cerence is a leader in automotive speech, as the company has built significant market share of 80%-plus with over 1,000 patents and is installed in over 300 million vehicles. While in the near term the company’s fundamentals could be negatively impacted, given Covid-19 headwinds and a softer mac...