Author: AnswerStock

AbbVie Investors: Is the Company Making a $63 Billion Mistake?

By AnswerStock•

AbbVie’s shares tanked after announcing its plans to acquire the drugmaker Allergen…

Shares of AbbVie fell more than 15% on Tuesday after the company announced it plans to acquire the drugmaker Allergan for $63 billion. The price represents a 45% premium over Allergan’s closing price on Monday.

AbbVie’s shares were trailing even before the announcement as investors became increasingly concerned about declining sales. The Allergan announcement simply added more fire to these concerns.

However, this announcement was good news for Allergan shareholders, who have been pushing for the company to either split or be sold. Allergan’s stock soared more than 26% on Tuesday.

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Grubhub Shares Rise After Citi Upgrades Stock

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The company’s shares went up 7.5% after being upgraded by Citi.

On Tuesday, Citi upgraded Grubhub from neutral to buy after analysts saw greater upside for the stock. Citi also raised its price target on the company from $75 to $91.

As the reason for the upgrade, Citi said that Grubhub continues to become more efficient and improve the quality of its partnerships. And in spite of increased competition, the mobile delivery market continues to grow at a rapid pace.

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FedEx Sues US Government Over Export Restrictions

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Amid the uncertainty and stress of trade tensions between the U.S. and China, one of America’s top transportation companies, FedEx, is suing the federal government…

Apparently, the target of this lawsuit is a federal export ban that would require FedEx to police what’s in its packages, in order to remove Chinese goods from supply chains and consumer pipelines.

In a press statement, the company called this mandate “a virtually impossible task, logistically, economically, and in many cases, legally.”

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Amazon’s New Pro Beauty Store Sinks Ulta, Sally Shares

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Major beauty retailers saw their shares fall after the announcement.

Is there an industry that Amazon can’t disrupt? So far, the answer to that question seems to be a resounding no. And this week, the beauty industry is the latest to potentially be upended by Amazon. 

On Monday, major beauty retailers like Ulta and Sally Beauty saw their stock fall after Amazon launched its own e-commerce beauty store. The Amazon Professional Beauty Store gives licensed stylists, barbers, and estheticians access to products that are usually only available in salons and spas. 

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Diesel Scandal Crushes Daimler Profit Growth

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News from German automaker Daimler shows how an emissions scandal can damage a car company’s success over a long time frame.

The newest reports of downgraded profit predictions shows the distress that Daimler is still mired in: Despite big investments in markets like North America, with tens of thousands of Daimler employees stateside, the firm seems to still be struggling to beat estimates partly due to the aftereffects of a diesel emissions story that hangs onto its heel.

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Rough Waters Ahead for Carnival Stock

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The company’s shares have trailed by more than 20% over the past year.

On Thursday, Carnival’s stock fell more than 10% after the company lowered its full-year guidance. The company’s shares were already down more than 4% in 2019 and have fallen by more than 20% in the past year.

This is the second time in three months Carnival has lowered its yearly outlook. This caused some discontent among investors, in spite of what was actually a positive earnings report.

Here’s what’s happening…

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Oracle Earnings Propel ORCL to All-Time High

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You can’t really say that the U.S. markets as a whole are at all-time highs anymore, but one established tech company has climbed to its all-time peak after great earnings reported yesterday.

Oracle, a household name in database and successive technologies, stands at around $57 today — that’s above a prior peak in April, and significantly above Oracle’s $40 heyday before the dotcom bubble broke in 2000.

Since then, Oracle has been going in new and exciting places, and ORCL reflects that…

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Facebook Stock Fluctuates After Cryptocurrency Announcement

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Facebook plans to enter the cryptocurrency market in early 2020.

This week, Facebook announced its plans to enter the cryptocurrency and digital payments market. Libra, the company’s new digital currency, will initially be used for global money transfers. Facebook plans to launch Libra in early 2020.  

This announcement was embraced by most analysts who are excited about the potential for Facebook’s newest venture. The company’s stock has risen and fallen several times since the announcement.

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Target’s Shares Fall After Weekend Payment Mishap

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The company experienced technical issues that left it unable to process payments…

Target’s shares dropped 1.5% on Monday after the company experienced payment problems all weekend. According to the company, the problem was caused by technology issues, not a security breach.

Target said that none of its customer payment information was compromised during this time. Target hasn’t specified what these technical problems cost them financially, though online sales were still able to proceed as usual.

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Could Oil Prices Spike to $100 a Barrel After the Latest Attacks?

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Crude oil prices recently surged more than 3% to $52.66 … 

All after two oil tankers were attacked near the Strait of Hormuz, leaving one ship ablaze. It’s now the second time in a month that tankers have been struck in the oil-rich region, and U.S. officials are pointing the finger at Iran.

They come just a month after the United Arab Emirates (UAE) said a total of four oil vessels were attacked off its coast at the port of Fujairah.  

It’s “highly likely” Iran caused these attacks, a U.S. defense official told CBS.

In addition, a spokesman for the Saudi-led coalition supporting Yemen has also blamed Iran for the attack, saying it can connect it to a similar bombing in the Red Sea in 2018.  

So, what happens next?

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