Yahoo Finance’s Alexis Christoforous and Brian Sozzi react to the May retail sales number with Columbia Business School Professor Mark Cohen.

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With the job market kicking back into gear after the worst of the COVID-19 pandemic, Target looks to attract new workers to meet demand.

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We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The…

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Volkswagen will pay a 48% premium to buy out the minority shareholders of premium division Audi, Audi said on Tuesday. Volkswagen, which already holds 99.64% of Audi, announced the squeeze-out plans in February. “Volkswagen AG announced and specified that it has set the cash settlement to be paid to the minority shareholders in return for the transfer of their shares at 1,551.53 euros per AUDI AG share,” the carmaker said.

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The millions of Americans who have filed for unemployment benefits since the pandemic hit the economy in March face an unwelcome surprise next month.

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Shares in DraftKings (DKNG) sank almost 7% in pre-market trading after the U.S. sports betting company announced a public offering to sell its common stock.The stock dropped to $37.80 in early market trading. DraftKings said it has commenced an underwritten public offering of 33 million shares of its Class A common stock, consisting of 14 million shares offered by DraftKings and 19 million shares offered by some of the company’s shareholders.The stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 4.95 million shares of Class A common stock. DraftKings will not receive any proceeds from the sale of Class A common stock offered by the stockholders. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.DraftKings said it intends to use the net proceeds it receives from the offering for general corporate purposes. Goldman Sachs & Co. and Credit Suisse Securities (USA) are acting as joint book-running managers.The share sale offering comes after the sports gambling went public at the end of April. Since the Nasdaq debut, the stock has more than doubled and is trading at $40.57 as of Tuesday’s close.Five-star analyst Jed Kelly at Oppenheimer last week initiated coverage of the stock with a Buy rating and a $48 price target.“As more states legalize sports gambling, we believe competencies in product development and customer acquisition will allow the company to be a critical player in accelerating the shift in US sports betting from ~$150 billion wagered illegally/ offshore to licensed domestic operators,” Kelly wrote in a note to investors.Although legalized sports betting and iGaming markets are in their very early stages of growth, Kelly estimates for the US legal sports wagering market to grow about 43% annually, reaching about $8 billion by 2025, and $14.4 billion by 2028 as more states regulate sports gaming. The analyst expects DraftKings to achieve about 25% market share.“While a premium valuation and high cash flow burn likely create above-average volatility near term, we emphasize the long-term nature of our rating,” Kelly added.The stock scores 7 Buy ratings versus 1 Hold rating adding up to a Strong Buy analyst consensus. The $43.29 average price target implies 6.7% upside potential in the shares over the coming year. (See DraftKings stock analysis on TipRanks).Related News: iQIYI Pops 35% In Pre-Market On Report Tencent Seeks To Buy Big Stake Nio Completes $428M ADS Offering, Stock Now Up 70% YTD Google Mulling Purchase of Stake in Indian Vodafone Idea More recent articles from Smarter Analyst: * Oracle Sinks Post-Earnings As Cloud Push Drags On * Tesla Clinches Three-Year Pricing Deal With Panasonic For Battery Cells * Google Brings Meet To Mobile In Latest Video-Calling Boost * Novartis Scores FDA Ilaris Approval For Rare Type Of Arthritis

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Shares in Oracle (ORCL) are sinking after the company reported its fiscal fourth quarter earning results. Q4 Non-GAAP EPS of $1.20 beat Street expectations by $0.05, as did GAAP EPS of $0.99 vs the $0.04 consensus. However, revenue of $10.44B missed by $240M, and represented a 6.3% year-over-year decline.Meanwhile cloud services and license support generated revenue of $6.85B, slightly lower than the Street estimated $6.91B. Similarly, cloud license and on-premise license revenue came in at $1.96B falling short of the $2.17B estimate.The board of directors also declared a quarterly cash dividend of $0.24 per share of outstanding common stock.“Our overall business did remarkably well considering the pandemic, but our results would have been even better except for customers in the hardest-hit industries that we serve such as hospitality, retail, and transportation postponing some of their purchases” commented Oracle CEO, Safra Catz.Looking forward, guidance was positive, likely due to pushed-out deals, with F1Q total revenue expected to be (1%)–1% in USD, vs. consensus of (1.8%), and NG EPS of $0.84–0.88 vs. consensus of $0.85.Following the report RBC Capital’s Alex Zukin wrote “Oracle continues its transition to a Cloud-centric world unevenly. Its traditional on-prem license business is shrinking, and Cloud growth is only strong enough to keep total revenue modestly expanding”Citing better margins/ EPS, he raised his price target to $51 from $50 previously, and reiterated his hold rating. Management continues to talk to an acceleration, but the time frame is uncertain, he added. Zukin’s new price target still indicates downside potential of 7% lies ahead.Shares are currently sinking 3% in Wednesday’s pre-market trading, with a 3% gain so far year-to-date. Analysts are split between hold and buy ratings, giving the stock a Moderate Buy consensus. Meanwhile the average analyst price target of $55 is flat with the current share price. (See ORCL stock analysis on TipRanks).Related News: Facebook Unveils Tighter Political Ad Measures Ahead of US Elections Groupon Rises After-Hours Despite Revenue Plunging 35% Y/Y Tesla Clinches Three-Year Pricing Deal With Panasonic For Battery Cells More recent articles from Smarter Analyst: * DraftKings Drops 7% In Pre-Market Amid Public Share Offering * Tesla Clinches Three-Year Pricing Deal With Panasonic For Battery Cells * Google Brings Meet To Mobile In Latest Video-Calling Boost * Novartis Scores FDA Ilaris Approval For Rare Type Of Arthritis

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(Bloomberg) — Institutional investors are bidding for JD.com’s Hong Kong shares before this week’s debut at slightly more than the listing price.Some institutional investors have bid to buy the Chinese e-commerce company’s shares at between HK$226.10 to HK$237 apiece in gray market trading Wednesday, according to people familiar with the matter. That represents a premium of as much as 4.9% compared to the listing price of HK$226. Brokers quoted offers to sell the shares at between HK$239 and HK$245 each, the people said.JD.com, which went public on Nasdaq in 2014, is expected to start trading in Hong Kong on June 18. The stock rose 2.5% in U.S. trading on Tuesday. Traders will be able to short the stock immediately after its debut, as well as hedge with futures and options, according to the Hong Kong exchange operator.JD.com raised $3.9 billion last week selling 133 million new shares in Hong Kong in the second-biggest listing of the year, part of a wave of Chinese companies that are fleeing the U.S. and seeking secondary listings in the city.Last week, internet gaming company NetEase Inc. began trading in the city, with the Hong Kong-listed shares now up 4.1% from the offer price after an initial pop on its first day of trading. Prior to listing, it also drew a small premium on the gray market.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Tesla Inc. (TSLA) said it has signed a three-year pricing agreement with Panasonic Corp. for the manufacturing and supply of lithium-ion battery cells at the Gigafactory Nevada.The agreement effective from April 1 until March 31, 2023, sets the specific terms between the two parties with respect to pricing, planned investments and new technology. It also determines production capacity commitments by Panasonic and purchase volume commitments by Tesla over the first two years of the agreement. Financial terms of the deal weren’t disclosed.The new agreement builds on previous deals between Tesla and Panasonic related to the production and supply of lithium-ion battery cells. In November 2010, Panasonic invested $30 million in a private placement of Tesla common stock.In addition, Tesla also signed an amendment to the company’s general terms and conditions of its 2014 partnership agreement with Panasonic, which modifies the term to expire 10 years after Panasonic achieves certain manufacturing milestonesThe U.S. electric vehicle maker has last week been reportedly given the green light by the Chinese government to build model 3 vehicles in the country equipped with lithium iron phosphate (LFP) batteries. Tesla is said to be in advanced talks to use LFP batteries from CATL that contain no cobalt – one of the most expensive metals in electric vehicle (EV) batteries – in cars made at its China plant.The value of Tesla shares has this year more than doubled. The stock retreated less than 1% to close at $982.13 on Tuesday.Five-star analyst Ben Kallo at Robert W. Baird this week reiterated a Hold rating on the stock with a $700 price target, citing a recent management meeting."Sentiment was positive across our meetings; investors appear increasingly willing to look through near-term noise and focus on future (2021+) revenue and earnings growth drivers,” Kallo wrote in a note to investors. “This is reasonable, in our view, given the numerous projects underway which could meaningfully contribute to growth over time. Nearer term, the upcoming Battery Day and subsidies in Germany were areas of focus."In line with Kallo’s outlook, the stock has a Hold analyst consensus with 11 Sell ratings and 9 Hold ratings versus 8 Buy ratings. Meanwhile, the Street’s $649.95 average price target implies 34% downside potential in the shares over the coming year. (See Tesla’s stock analysis on TipRanks).Related News: Tesla Sales Triple For China Model 3 Vehicle In May Grubhub Shares Lifted On Report Of European Acquirers Lining Up   Can Tesla Provide the Million Mile EV Battery? Top Analyst Weighs In More recent articles from Smarter Analyst: * Oracle Sinks Post-Earnings As Cloud Push Drags On * Google Brings Meet To Mobile In Latest Video-Calling Boost * Novartis Scores FDA Ilaris Approval For Rare Type Of Arthritis * Fulgent Pops 18% In After-Market On FDA Nod For Covid-19 Home Test

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