Home Buying Boom Boosts Zillow’s Fortunes to a Record By Investing.com


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By Christiana Sciaudone

Investing.com —  Zillow Group Inc (NASDAQ:) bounced to a record as Americans went shopping for new homes in the pandemic.

Shares of the real estate listings company jumped 17% Friday after it reported revenue rose 28% to $768 million, compared to the average analyst forecast of $619 million. The loss per share of 15 cents compares to the expected loss of 48 cents. The shares gave back some of the gains to close up 11.5%, at $79.78.

Traffic to Zillow Group’s mobile apps and websites reached a record 218 million average monthly unique users, an increase of 12% year over year, driving 2.5 billion visits during the quarter, the company said in a statement. Zillow ended the quarter with the highest cash balance in its history, growing cash and investments to $3.5 billion from $2.6 billion at the end of the first quarter. 

Shares have eight buy ratings, nine holds and one sell, with an average price target of $65.25, analyst tracked by Investing.com say. The stock has more than doubled since March.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Wall Street Opens Lower as Payrolls Fail to Impress; Dow Down 66 Pts By Investing.com


© Reuters.

By Geoffrey Smith 

Investing.com — U.S. stock markets opened lower on Friday after a modestly better-than-expected for July failed to allay concerns that the economic recovery may be stalling. 

The U.S. created 1.763 million jobs in the month through mid-July, down from a revised 4.791 million in June. While that was marginally stronger than the 1.60 million average forecast, and while it was a relief after an alarmingly weak report on private payrolls from earlier in the week, it still pointed to a clear loss of momentum in the labor market last month, when a surge of Covid-19 infections across the south and west of the U.S. forced a number of states to freeze or even partially reverse their economic reopening plans. 

By 9:35 AM ET (1335 GMT), the was down 73 points, or 0.3%, at 27,314 points. The S&P 500, which has closed in this week on a new all-time high, retreated 0.3%, while the fell 0.2%.

The jobs report was unable to lift the gloom created by President Donald Trump’s latest blast at China and by the failure of lawmakers in Washington DC to agree on a new round of relief measures for the economy, most importantly the extension of unemployment benefits for the millions who have last their jobs since March. 

Trump on Thursday had raised tensions with China again on Thursday by banning U.S. residents from interacting with ByteDance, the owner of the TikTok app, on security grounds. He also issued a similar ban on the WeChat messaging app, which is owned by U.S.-listed Tencent Holdings (OTC:). 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Australia stocks lower at close of trade; S&P/ASX 200 down 0.62% By Investing.com


© Reuters. Australia stocks lower at close of trade; S&P/ASX 200 down 0.62%

Investing.com – Australia stocks were lower after the close on Friday, as losses in the , and sectors led shares lower.

At the close in Sydney, the fell 0.62%.

The best performers of the session on the were Corporate Travel Managment Ltd (ASX:), which rose 6.45% or 0.59 points to trade at 9.74 at the close. Meanwhile, Flight Centre Ltd (ASX:) added 6.30% or 0.63 points to end at 10.63 and News Corp B DRC (ASX:) was up 5.68% or 1.05 points to 19.55 in late trade.

The worst performers of the session were Janus Henderson Group PLC DRC (ASX:), which fell 3.54% or 1.06 points to trade at 28.90 at the close. Virgin Money PLC (ASX:) declined 3.52% or 0.06 points to end at 1.58 and Resmed Inc DRC (ASX:) was down 3.17% or 0.820 points to 25.060.

Rising stocks outnumbered declining ones on the Sydney Stock Exchange by 642 to 615 and 352 ended unchanged.

The , which measures the implied volatility of S&P/ASX 200 options, was up 1.65% to 18.981.

Gold Futures for October delivery was up 0.02% or 0.40 to $2058.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in September fell 0.36% or 0.15 to hit $41.80 a barrel, while the October Brent oil contract fell 0.31% or 0.14 to trade at $44.95 a barrel.

AUD/USD was down 0.31% to 0.7210, while AUD/JPY fell 0.28% to 76.13.

The US Dollar Index Futures was up 0.26% at 93.007.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Barstool Helps Keep Penn National Afloat as Casinos Reopen By Investing.com


© Reuters.

By Christiana Sciaudone

Investing.com — Penn National Gaming (NASDAQ:) jumped 14% to a record thanks to its web-based plays.

The Barstool Sports blog saw the highest number of podcast downloads ever in June. That made Barstool, which Penn National acquired earlier this year, one of the top four largest podcast networks in the country, despite the lack of live sports. It’s also driving interest for the Barstool Sportsbook, expected in September.

Penn National also cited its online casino product in Pennsylvania as growing rapidly: “We believe the company is poised to capture an outsized share of the high growth U.S. sports betting and online casino markets and achieve market-leading profitability.”

In the current quarter, Penn National will launch its mychoice social casino product, an interactive gaming experience and customer acquisition tool in states where iCasino does not yet exist.

“While May and June results may have benefited in part from pent-up demand, we continue to be highly encouraged by revenue and EBITDAR trends in July and early August, despite the continuation of safety protocols, including capacity restrictions and social distancing mandates,” said Chief Executive Officer Jay Snowden.     

Penn National reported a loss per share of $1.69 versus the expected loss of $2.11 on sales of $305 million, compared to the average forecast of $240 million. In mid-afternoon trading, the stock had given back some of its earlier gains but was still up 10.6% at $42.48.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.77% By Investing.com


© Reuters. Denmark stocks lower at close of trade; OMX Copenhagen 20 down 0.77%

Investing.com – Denmark stocks were lower after the close on Thursday, as losses in the , and sectors led shares lower.

At the close in Copenhagen, the fell 0.77%.

The best performers of the session on the were GN Store Nord (CSE:), which rose 1.27% or 5.0 points to trade at 399.6 at the close. Meanwhile, DSV (CSE:) added 1.17% or 10.4 points to end at 900.0 and William Demant Holding A/S (CSE:) was up 0.78% or 1.5 points to 193.2 in late trade.

The worst performers of the session were Novo Nordisk A/S Class B (CSE:), which fell 1.81% or 7.4 points to trade at 400.4 at the close. Ambu A/S (CSE:) declined 1.59% or 3.5 points to end at 217.2 and Carlsberg A/S B (CSE:) was down 1.47% or 13.6 points to 913.4.

Falling stocks outnumbered advancing ones on the Copenhagen Stock Exchange by 73 to 60 and 12 ended unchanged.

Shares in DSV (CSE:) rose to all time highs; gaining 1.17% or 10.4 to 900.0.

Crude oil for September delivery was up 0.33% or 0.14 to $42.33 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.80% or 0.36 to hit $45.53 a barrel, while the October Gold Futures contract rose 1.10% or 22.50 to trade at $2059.60 a troy ounce.

USD/DKK was down 0.10% to 6.2741, while EUR/DKK rose 0.02% to 7.4507.

The US Dollar Index Futures was down 0.09% at 92.763.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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