Today we are watching…
1. Yintech (#yin-adr)
Yintech, a provider of trading and investment services for online spot commodity trading in China, and listed on NASDAQ, is expected to report second quarter earnings today. General consensus is a strong buy with major institutional investor, Blackrock, increasing its stake in the company. The company opened the week at $4.86 and has a 52 day low of $3.97 and a high of $9.92.
2. Uber (#uber)
Uber has posted huge losses of $1bn in its first financial report since it made a lacklustre IPO debut. Despite revenues of $3.1bn in the first quarter of 2019, thanks mainly to a 20% rise compared to the same period last year, the ride-hailing giant has struggled to achieve profitability due to heavy spending to compete against big rival Lyft. According to CEO Dara Khosrowshahi, cross-promotion of its Eats food delivery service with its ride-hailing offering app offering will see it out.
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