The stock fell more than 8% on Thursday, a dismal performance by many standards, but several other companies fell by more on their market debuts.
(Bloomberg) — The furious rebound of Chinese technology stocks will be painful news for investors who rushed to a $4.6 billion exchange-traded fund to bet against the beleaguered sector.As Beijing intensified its crackdown on private firms, plenty of traders made wagers on continuing turmoil, especially via the KraneShares CSI China Internet Fund (ticker KWEB).Through most of July the ETF lured inflows, amounting to a record $1.3 billion in the month, likely fueled by dip buying after the fund
We’re well into the Q2 earnings season and the results coming in show a strong overall performance so far. In fact, according to FactSet, if the S&P 500’s actual growth rate for the quarter hits 74.2% – as appears likely right now – it will amount to the biggest year-over-year earnings growth rate the index has displayed since Q4 2009. It’s a confidence boosting turn of events and a slightly surprising one, as noted by Oppenheimer’s Chief Investment Strategist John Stoltzfus. Stoltzfus believes