Below are our Key Stocks to watch today, based on current events and news dominating the headlines.
India’s finance ministry has set cryptocurrency and related stocks to watch as India is the latest global regulatory body to caution about the risks of trading in cryptocurrencies such as bitcoin, saying the investments are like “Ponzi schemes.” Cryptocurrencies are not legal tender and have no regulatory permission or protection in the country, according to the ministry, but it stopped short of announcing an outright ban or imposing any curbs. (get your $10 in free bitcoin here)
Citigroup is a key stock to watch as has been fined $11.5M by FINRA over a flawed data feed that showed retail customers false stock ratings over a five-year period. Despite “numerous” red flags, Citi (NYSE:C) failed to fix the wrongly displayed ratings – that were tagged Buy rather than Sell, and vice versa – and affected more than 1,800 stocks, or about 38% of the brokerage’s covered securities.
Netflix is a key stock to watch CEO Reed Hastings is getting a big raise next year. While his salary will dip from $850K to $700K, he is set to receive $28.7M in company stock options, up from $21M in 2017. The executive is being rewarded for a banner year for Netflix, which crossed the 100M subscriber threshold during 2017. NFLX shares also increased more than 50% since Jan. 1.
Facing lawsuits and consumer outrage over its iPhone slowdown, Apple (NASDAQ:AAPL) is a key stock to watch as it has issued an apology to customers over its handling of the issue. To “regain the trust of anyone who may have doubted Apple’s intentions,” the tech giant is slashing prices for battery replacements to $29 (from $79) and will change its software to show users whether their phone battery is good.
Strengthening its position as a full-value aircraft solutions provider, China Aircraft Leasing (OTC:CFRLF) has agreed to buy 50 A320neos for an aggregate list price of $5.4B. Airbus (OTCPK:EADSY) also confirmed a mammoth $49.5B order to supply 430 aircraft to U.S. private equity firm Indigo Partners, which was signed as a preliminary deal at the Dubai Airshow in November.
Volkswagen is petitioning Germany’s constitutional court in an effort to overturn the appointment of a special auditor to investigate the actions of management in its “Dieselgate” scandal. A lower court appointed the auditor in November, in a victory for shareholder groups that want to establish whether VW (OTCPK:VLKAY) bosses withheld market-moving information about the manipulation of emissions tests.
It’s still the most valuable U.S. startup, but SoftBank (OTCPK:SFTBY) has succeeded in its bid to buy a large stake in UBER at a steep discount, WSJreports. Investors and employees of the ride-hailing service tendered shares equal to about 18% of the company in an offer that values Uber at $48B – a roughly 30% discount to its most recent valuation of about $68B.
General Motors scored a legal victory late Thursday that may reduce the private litigation it faces over flawed vehicle ignition switches. U.S. District Judge Jesse Furman said plaintiffs in two bellwether cases could not introduce expert testimony because there was no evidence that “double switch rotation” has occurred anywhere. GM’s defect has been linked to 124 deaths.
Bending to pressure from big shareholders, SandRidge Energy (NYSE:SD) is terminating its proposed acquisition of Bonanza Creek Energy (NYSE:BCEI). Carl Icahn and the other investors said the deal made little sense and was too costly, while owners of at least 12.5% in aggregate of SandRidge shares had publicly opposed the transaction.
The biggest legal recreational marijuana market in America is finally ready to open its doors. Following the approval of Prop. 64, Californians will be able to buy the herb without a medical license starting on Jan. 1, with a 15% state excise tax – and additional state and local taxes – tacked onto every purchase. California plans to eventually collect an estimated $1B in annual tax revenue from the industry.
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