Monthly Archives: September 2020

Unity IPO Caps the Busiest IPO Week of the Year

Posted on September 21, 2020 by flpbaruchnewsletter

Unity Software (NYSE: U) debuted on the New York Stock Exchange at $75 a share on Friday, up 44% from its initial public offering price of $52 a share. The trading session ended with a slight retraction to $68.35, still … Continue reading →

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TikTok and WeChat Avoid U.S. Ban, For Now

Posted on September 21, 2020 by flpbaruchnewsletter

TikTok, owned by Beijing-based ByteDance Ltd., will partner with Oracle Corp. and Walmart Inc. to become a U.S.-based company, a deal that received President Trump’s approval. The imposed U.S. ban set for Sunday, September 20th, at midnight has been averted … Continue reading →

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Nvidia to Buy Arm Holdings

Posted on September 21, 2020 by flpbaruchnewsletter

Nvidia Corp. (NVDA) announced on Sunday, September 13th, that it would acquire Softbank Group Corp.’s chip division Arm Ltd. for $40 billion. The deal will include $21.5 billion in Nvidia stock as well as $12 billion in cash. This news … Continue reading →

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An Early Christmas for Snowflake’s Investors

Posted on September 21, 2020 by flpbaruchnewsletter

On Wednesday, September 16th, Snowflake Inc. (NYSE: SNOW) debuted on the New York Stock Exchange. The company opened at $245 per share, a 104% increase from its IPO price of $120. Snowflake was able to raise a total of $3.4 … Continue reading →

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Banks Contributes To Government Borrowing Spree

Posted on September 21, 2020 by flpbaruchnewsletter

Surging deposits and declining lending have led banks to increase their holdings of U.S. Treasury bills, providing support to the bond market. According to Federal Reserve data, holdings at U.S. commercial banks of Treasury and agency securities other than mortgage … Continue reading →

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Oil Rallies

Posted on September 21, 2020 by flpbaruchnewsletter

On Wednesday, September 16th, oil prices climbed as U.S crude inventory fell by 9.5 million barrels. The inventory decrease came as a surprise as the general market consensus was expecting a 1.4-million-barrel increase. The West Texas Intermediate benchmark added 4.5 … Continue reading →

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Material is S&P 500’s New Hottest Sector

Posted on September 21, 2020 by flpbaruchnewsletter

Recently, the material sectors of the S&P 500 are rallying similar to the previous hot technology stocks. The industry is up 5.4% this month, while the broader index has fallen more than 4% due to overpriced technology stocks. The group … Continue reading →

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Fed to Keep Rates at Zero Until 2023

Posted on September 21, 2020 by flpbaruchnewsletter

The Federal Reserve announced on Wednesday, September 16th, that they were going to hold interest rates near zero for at least three more years. The Fed does not expect to see inflation pick up in the coming years. Stocks initially … Continue reading →

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Citigroup’s Jane Fraser to Step Up as CEO

Posted on September 13, 2020 by flpbaruchnewsletter

Upon Michael Corbat’s retirement in February, Jane Fraser will begin leading Citigroup Inc., making her the first female CEO in both the company’s history as well as any major Wall Street Bank. Leading America’s third largest bank during a pandemic-induced … Continue reading →

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GM Takes a Piece of Nikola

Posted on September 13, 2020 by flpbaruchnewsletter

Eager to join the world of electric vehicles, General Motors Co. announced a $2 billion investment in Nikola Corp., the up-and-coming electric vehicle company. GM will help develop and manufacture new models in exchange for an 11% stake in Nikola … Continue reading →

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