Credits: Unsplash
By: Aquib Nawab
Finance
SoFi Technologies is a financial technology company, and today, its stock went up by a lot, around 18%. The reason is that SoFi reported that they made a profit for the first time ever. They made a lot of money, about $594 million, which is more than what experts were expecting.
Credits: Bloomberg
iRobot, the company that makes robot vacuums, had a tough day. Their stock went down by 17%. This happened because another big company, Amazon, decided not to buy iRobot. They said there were problems with getting permission from the government for the deal. Because of this, iRobot is going to lay off 31% of its employees, and their CEO is stepping down.
Credits: Canva
There's a company in China called Evergrande that's been in trouble for a while because of a lot of debt. Now, a court in Hong Kong has ordered them to close down because they couldn't fix their financial problems. This is a big deal in China because Evergrande used to be one of the biggest property developers. In the last year, their stock lost 90% of its value.
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Two companies that make portable buildings, Willscot Mobile Mini and McGrath RentCorp, are joining together. Willscot is buying McGrath RentCorp for $3.8 billion. People who own McGrath RentCorp shares can choose to get money or shares of WillScot Mobile Mini. After this news, McGrath RentCorp's stock went up almost 10%.
Credits: Willscot
Philips is a company that makes things like toothbrushes and shavers. They have decided to stop selling some of their sleep-therapy devices in the United States because they had problems with the government. Philips also had to set aside a lot of money, $393 million, to deal with these problems. Because of this, the price of stock in the U.S. went down by almost 8%.
Credits: Office List
ZoomInfo Technologies helps companies by providing them with information they can use for selling and marketing. A big bank called BofA Securities thinks that ZoomInfo is a good investment now, so they upgraded their recommendation for the stock. They also raised the price target for the stock from $20 to $25. Because of this, stock went up 6% to $16.83.
Credits: CNN
Another big bank, J.P. Morgan, thinks that Dollar Tree, a discount retailer, is a better investment now. They upgraded their recommendation for the stock from Neutral to Overweight. Because of this news, Dollar Tree's stock went up by 2.2%.
Credits: Supermarket News
Boeing makes airplanes, and they had a problem with one of their planes, the 737 MAX 9. The government told them they couldn't fly it for a while because there was a safety issue. Now, after some checks and inspections, they can fly the plane again. This is good news for Boeing, and their stock went up by 0.3%.
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Biggest tech companies, Like Microsoft, is also in the news. Microsoft's stock went up by 0.8%, which is a small increase.
Credits: Unsplash
Apple's stock went down by 0.9%, which is a small decrease. People who invest in the stock market are watching these companies closely.
Credits: Unsplash