Stocks have been on different trajectories lately, with industrials, miners, and financials holding up fairly well even as tech and Real Estate Investment Trusts (REITs) have gotten whacked. This morning, most equities are bouncing back, though, while gold and silver are pulling back notably. Crude oil is slipping along with Treasuries, while the dollar is modestly higher.
Tesla Inc. (TSLA) took the hatchet to its prices...again...over the last couple days. The Electric Vehicle (EV) maker cut prices on several models and its Full Self-Driving software by a few thousand dollars in the US, Europe, and Asia. Tesla is facing stiff competition from cheap Chinese EVs abroad, and waning demand at home, in part due to a product lineup that needs refreshing. TSLA shares have slumped almost 40% year-to-date.
Tesla Inc. (TSLA)
You may have taken a Viking River Cruise in Europe. Soon, you’ll be able to trade Viking Holdings (VIK) shares. The company plans to launch a $1.1 billion Initial Public Offering (IPO), selling 44 million shares in a projected price range of $21 to $25. That would work out to valuation of around $10.8 billion for the company. Its move comes amid booming cruise demand and a loosening up of capital markets.
Don’t count the stodgy wireless service firms out yet! Verizon Communications Inc. (VZ) shed retail phone customers in the first quarter, but still managed to beat earnings forecasts by a couple of pennies per share. The company has changed the pricing of its plans and added perks like subscriptions to streaming services to make its offerings more competitive. High-speed Internet service demand is rising nicely, too.
