A Bothell, Wash., man whose wife was previously a finance manager at Amazon, has pleaded guilty to securities fraud for his role in an insider trading scheme involving the couple and another family member.
Viky Bohra, 36, admitted in U.S. District Court in Seattle on Thursday that he used Amazon inside information he obtained from a relative to place trades in Amazon stock, which made a profit of $1,428,264.
The Securities and Exchange
Traditionally, most companies received funding either through loans as convertible promissory notes or through the giving out of equity. Off-late, however, there has been a hybrid system specifically developed to fund startups. One of the most notable and renowned being SAFE. SAFE is an acronym of simple agreement for future equity. Typically it is a contract to obtain a portion of equity as determined in a subsequent priced round in which the investor pays the … Read More
Associated Press
ESPN announced Thursday it is eliminating about 500 jobs worldwide, including about 300 through layoffs.
The cuts amount to about 10% of the employees at the sports network and are due largely to the impact of the pandemic on its business and the “tremendous disruption in how fans consume sports.”
“In the short
(Bloomberg) — Gold had the biggest weekly gain since July and copper rose as Joe Biden tightened his grip on the race for the White House, while investors also weighed prospects for further Federal Reserve stimulus.
Bullion broke out of a narrow trading range seen over the past month as uncertainty over the U.S. election and renewed stimulus hopes boosted demand for the haven. Democrat Joe Biden has taken the lead in Pennsylvania over President
Redfin beat analyst expectations for its fiscal third quarter, reporting revenue of $236.9 million and a earnings per share of $0.32. Revenue was down 1% year-over-year due to a pandemic-driven shortfall in Redfin’s home-buying business, while net income more than quadrupled. Wall Street expected revenue of $227 million and earnings per share of $0.25.
Still, the company’s stock was
A new coronavirus stimulus deal is still in the works between Democrats and Republicans, bu they can’t agree on a conclusion.
USA TODAY
U.S. stock futures slipped Thursday evening, with investors taking a breather after a post-election surge put stocks on pace for their best week since April.
Futures for the Dow Jones industrial average briefly dropped nearly 200 points after President Donald Trump questioned the integrity of the U.S. election with no evidence.
Bruce Bennett/Getty
IHOP is the latest chain to shutter a number of locations due to the financial strains brought on by the coronavirus pandemic.
Dine Brands Inc., which is the parent company of IHOP and Applebee’s, announced on Thursday that almost 100 locations of the pancake chain will close across the U.S. over the next six months. The breakfast chain currently operates 1,683 restaurants, and 35 have shuttered so far in 2020.
“We’re confident we
(Reuters) – Exxon Mobil Corp XOM.N said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices.
Exxon and other oil producers have been slashing costs due to a collapse in oil demand and ill-timed
(Reuters) – As crews began returning to U.S. Gulf of Mexico offshore facilities on Thursday, this year’s repeated oil and gas production halts were already hitting energy firms’ results.
Eight named storms entered the U.S. Gulf of Mexico this year, most spiraling up to damaging storms that required offshore facility evacuations or temporary well shutdowns.
“It has been a difficult and challenging year because of the number of storms,” said Erik Milito, president of trade
Netflix is filling its coffers a bit more with a new price hike. The standard plan and premium plan will
Entercom Communications (ETM) – Get Report shares leaped after the radio broadcaster signed a six-year deal that makes FanDuel its official sportsbook partner.
Sports gambling is all the rage since the Supreme Court legalized it for all states in 2018.
The stock recently stood at $1.62, up 11%. They’ve traded on Thursday up as much as 63% at $2.38.
The shares have more than doubled off their 52-week low of 75 cents, set
Starbucks saw faster-than-expected recovery in the U.S. and China in its fiscal fourth quarter, giving it confidence as it heads into the new year.
Global same-store sales fell 9% from the prior year, a better showing than the 12% to 17% drop Starbucks anticipated in July. U.S. same-store sales were down 9% in the July-September period, while China’s fell 3%. Starbucks has 20,000 stores in the U.S. and China, or 61% of its total.
Starbucks
(Reuters) – Casino operator Las Vegas Sands Corp is exploring a sale of its flagship casinos in Las Vegas for about $6 billion, a source told Reuters on Monday, with the move likely to mark the exit of the group’s chairman from the U.S. gambling industry for now.
The properties included in the potential sale are Sands Expo Convention Center, the Venetian Resort Las Vegas and the Palazzo, the source added, asking not to be
LONDON (Reuters) – British former Prime Minister David Cameron and other public figures backed an initiative launching on Tuesday to increase the number of internships open only to Black applicants in finance, law and other sectors.
The 10,000 Black Interns project is based on
Image source: The Motley Fool.
Simpson Manufacturing Inc (NYSE: SSD)
Q3 2020 Earnings Call
Oct 26, 2020, 5:00 p.m. ET
Operator
Greetings and welcome to Simpson Manufacturing Company Incorporated Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
BEIJING, Oct 27 (Reuters) – Profits at Chinese industrial firms in September rose 10.1%year-on-year to 646.43 billion yuan ($96.34 billion), National Bureau of Statistics (NBS) data showed on Tuesday, pointing to a firm recovery in the vast manufacturing sector from the coronavirus shock.
The latest uptick marked the fifth straight month of profit growth, but slowed from a 19.1% increase in August.
For January-September, industrial firms’ profits fell 2.4% on an annual basis to
NXP Semiconductors (NXPI) – Get Report, the chipmaker focused on the auto and mobile-phone industries and others, reported a narrower-than-expected third-quarter loss and offered upbeat guidance for the fourth quarter.
In the quarter the Eindhoven, Netherlands, company lost 8 cents a share compared with a profit of 38 cents a share in the year-earlier period.
Revenue was essentially flat with a year ago at $2.3 billion.
A survey of analysts by FactSet
(Bloomberg) — Asian stocks followed their U.S. counterparts lower Tuesday on concern rising coronavirus cases will hurt the global economy and as stimulus talks in Washington dragged on. U.S. futures fluctuated.
Shares fell across the region with declines more modest than those seen in the U.S. overnight, when the S&P 500 saw its biggest loss in a month. Ongoing spending talks in Washington continued to weigh on sentiment as prospects dimmed for fiscal aid before
BENGHAZI, Libya/LONDON (Reuters) – Libya’s National Oil Corp (NOC) on Monday ended force majeure on the last facilities closed by an eight-month blockade of oil exports by eastern forces as it pushes to restore production of one million barrels per day (bpd) within four weeks.
Ending force majeure – which suspended contract obligations due to circumstances beyond its control – on El-Feel oilfield means the NOC can theoretically bring all facilities back on stream.
“NOC
PR Newswire
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