Berkshire exits positions in banks, financial firms, and airlines, while entering a position in Barrick Gold; Paulson & Co. exits positions in Allergen , Spring Corp, and Tech Data; and Pershing Square exits positions in Berkshire Hathaway, Blackstone / GSO Credit Fund, and Park Hotels & Resorts. [more]
Since launching their IPOs last week, Rocket Companies and BigCommerce experienced an increase in stock price of 22% and 219%, respectively. However, Rackspace struggled as its stock price dropped by over 20% since its IPO. [more]
According to trend-tracking and prediction technology firm RIWI, data suggests U.S. economic recession is much deeper than current jobs data is reporting and Biden has a slight lead on Trump for the Presidential election but beware of the “shy Trump voter” effect. [more]
Canada’s newest tech darling closed up 80% in its first week of trading. Oversubscribed offering grows to $172.5M from $100M. The Company’s customers include top tier financial institutions and law firms serving customers in Canada and the UK. [more]
The top six banks in the U.S. reported Q2/2020 earnings and struggled with consumer and retail banking divisions due to the COVID-19 pandemic enforcing social isolation guidelines. However, most banks maintained dividend payments due to strong growth in investment banking and sales & trading divisions. [more]
Last month, Canadian ETFs experienced C$4 billion in net inflows. The top two ETFs with the highest net inflows so far this year were Horizons S&P/TSX Capped Composite Index ETF and Horizons Canadian Select Universe Bond ETF, which together attracted C$2.5 billion in capital. [more]
Rocket Companies’ flagship business, Rocket Mortgage, an online mortgage origination platform and app, reported over US$1 trillion in home loans to date, growing in market share to 9.2% in Q1/2020 from 1.3% in 2009, at a CAGR of 19%. [more]
Peak’s revenue in Q1/2020 was $3.9M, up over 300% year-over-year, even with the Covid-19 pandemic impacting operations in China. Peak’s revenue benefited late in Q1/2020 from the Company’s lending platforms being used to help distribute government relief funds to SME’s that were affected by the coronavirus. [more]
Recent low stock prices enabled activist investors to quietly buy up shares, leaving many companies vulnerable to becoming the target of shareholder activism in the future. Hugo Boss, easyJet, Tesla and Uber have all been under pressure from shareholders this year. [more]
Uncertainties caused by Covid-19 created a stronger demand for precious metals, increasing quarterly and annual revenue results but positive profits for the last quarter & fiscal year were elusive. [more]
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