Stock market

The big picture

Tesla mania vs. economic reality

Evidence that the stock market and the real economy are not the same thing.

Dec 22, 2020 - Economy & Business
Big businesses' corporate paradise may be coming to an end

If Trump's presidency is about to end, an unprecedented golden era for big businesses could end with it.

Nov 6, 2020 - Economy & Business
The fall of an empire

All major oil companies are facing trouble. But Exxon has fallen the farthest, making the biggest bets on oil and gas — and the smallest bets on renewable energy.

Nov 1, 2020 - Economy & Business
Investors say ignore the coronavirus pandemic and buy stocks

Bullish fund managers are starting to lay down bets that it will be this way for a while.

Jul 9, 2020 - Economy & Business
Markets swell as the economy shrinks

The disconnect shows how the coronavirus has thrown all bets off.

Jul 3, 2020 - Economy & Business
A look at Robinhood traders' favorite stocks

The list is heavily filled by speculative bets like cruise operators and airlines.

Jun 18, 2020 - Economy & Business

All Stock market stories

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

PerkinElmer acquires antibodies developer BioLegend

Illustration: Eniola Odetunde/Axios

PerkinElmer (NYSE: PKI) agreed to acquire San Diego-based antibodies developer BioLegend for $5.25 billion in cash ($2.2b) and stock.

Why it matters: Antibodies have been key research tools for studying COVID-19 and its troublesome variants.

Companies clear an already high earnings bar

Illustration: Aïda Amer/Axios

Companies have been reporting earnings growth that's way up — even overshooting expectations put out by Wall Street’s analysts.

Why it matters: Earnings growth is the key driver of stock prices.

Felix Salmon, author of Capital
Jul 22, 2021 - Economy & Business

Big investors seek impact

Illustration: Aïda Amer/Axios

It's not enough to invest in sustainable businesses. Instead, asset managers sometimes have a legal responsibility to actively influence the sustainability outcomes of the businesses they invest in. That's the message of new analysis from law firm Freshfields Bruckhaus Deringer.

Why it matters: Large investors at insurers, pension funds, and non-ESG mutual funds are understandably very conservative when it comes to changing the way in which they invest the trillions of dollars under their control. A sober 564-page presentation from a major law firm is exactly the sort of thing to help them change their ways.

Dan Primack, author of Pro Rata
Jul 22, 2021 - Economy & Business

Clearview AI raises $30 million in Series B funding

Illustration: Brendan Lynch/Axios

Clearview AI, a New York-based provider of facial recognition tech to law enforcement, raised $30 million in Series B funding. The company is under investigation for possible privacy violations in the U.K. and Australia, and also is the subject of several class-action lawsuits.

Why it matters: Clearview AI says that new investors have asked not to be publicly identified, as they apparently lack the courage of their checkbooks. Existing backers, via a $7 million Series A round, included Peter Thiel, Kirenaga Partners, Hal Lambert and Andrew Vigneault.

Felix Salmon, author of Capital
Jul 21, 2021 - Economy & Business

Nasdaq gets serious about private-company share trading

Photo: Pablo Monsalve/VIEWpress via Getty

It's one of the biggest competitions out there: Who will be the go-to platform for buying and selling stock in private companies? A consortium of giant banks is now teaming up with Nasdaq to try to ensure that the answer is to be found on Wall Street, rather than in Silicon Valley.

Why it matters: No matter how many companies go public, the total valuation of private companies only ever seems to go up rather than down. Which means there's big money to be made in trading stakes in those companies.

Stocks and bonds tell similar stories

Illustration: Megan Robinson/Axios

Treasury yields have been falling, and yet stock prices remain near record highs. On the surface, this seems like conflicting attitudes toward risk. But a closer look at these markets reveals a much more consistent narrative.

Why it matters: Since March, long-term Treasury yields have been sliding, with the 10-year yield falling from 1.74% in late March to as low as 1.13% on Monday.

Robinhood pulls back the roadshow curtain

Photo: Jakub Porzycki/NurPhoto via Getty Images

Robinhood wants to lure the retail investors who used its no-fee trading app to set off an at-home trading phenomenon to its soon-to-be listed stock.

Driving the news: It will livestream part of its roadshow on Saturday, with a presentation and Q&A session with CEO Vlad Tenev.

Jul 20, 2021 - Economy & Business

Netflix stock volatile following low subscriber forecasts

Illustration: Rebecca Zisser/Axios

Netflix on Tuesday said it added just 1.54 million subscribers this quarter, its lowest number of subscriber additions in years. The company also missed Wall Street expectations on earnings per share.

Why it matters: Investors were expecting low Q2 subscriber numbers, per Netflix's own guidance. What likely sent the stock sinking in the first few minutes following earnings was weak guidance again for the next quarter, when Netflix anticipates adding just 3.5 million subscribers.

The path to S&P 5,000

Illustration: Trent Joaquin/Axios

Even with Monday’s stock market swoon, the S&P 500 could still rally to 5,000 within the next two years.

Why it matters: A big round number like 5,000 may seem like a stretch. But it's really not if you consider the historical precedents and the fundamentals, which support the case for reaching that milestone from its 4,258 close on Monday.

Bank of America's bitcoin thaw

Illustration: Sarah Grillo/Axios

Bank of America may be loosening its stance on bitcoin.

Driving the news: Bank of America has approved the trading of cash-settled bitcoin futures for some clients, Coindesk’s Will Canny and Tanzeel Akhtar report.

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