While the firm has been transparent about this change in regulatory disclosures, juggling two distinct goals isn’t something that investors are accustomed to.“If you’re a hedge fund and you want to make that kind of a concentrated bet, you’re entitled to do that,” Lichtenfeld said, but “as a software company to make this kind of a bet is completely irresponsible.”‘Critical Point’Saylor said the company has been upfront with investors throughout. Dropbox 2020 annual EPS was $-0.62, a 376.92% increase from 2019. Burns is Workhorse’s founder and former CEO. They will exit separately. (Bloomberg) -- A rebound in the Nasdaq 100 that recouped as much as half of its $1.5 trillion losses from its February high hasn’t been enough to deter skeptics. Back then, when the Nasdaq 100 started falling in March 2000, the equal-weighted S&P 500 kept marching forward and didn’t peak until 14 months later -- a sign that money was being shifted away from the tech behemoths that soared in the internet bubble. Date EPS / Forecast Revenue / Forecast ; August 6, 2020: 0.22 / 0.17: 467.4M / 465.41M: Beat! Regulators have begun developing rules designed to help industry avoid damaging its reputation.But those “ambitious requirements might currently be too difficult,” according to an assessment prepared by researchers advising the European Commission. With a multiple of 28, its premium over the S&P 500 stood roughly 7% above its five-year average.Moreover, the growth advantage that has sustained tech’s outperformance in all but one year since 2009 is poised to disappear -- at least for the next two years -- as pandemic-beaten firms like airlines and automakers roar back. About three-quarters expect him to continue in the job, which is about the same finding in the prior survey.The central bank has occasionally made a technical change to its interest rate on excess reserves, which would not affect monetary policy. And thanks to innovations like cloud computing and automation, their earnings are expanding, as opposed to contracting or nonexistent, as they were in 2000. If Dropbox can maintain a healthy chart and hold near the buy point as its earnings date approaches, it could make sense as an earnings option trade. The conference call can be accessed by dialing (877) 300-7844 from the United States or (786) 815-8440 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the Dropbox investor relations website at http://investors.dropbox.com. 1 With $5.5 Million, UAE Sheikh Lays Claim to Oil Cargo U.S. Says Is From Iran, Bitcoin hit an all-time high — Here's why Warren Buffett still won't touch it, Bear Warning Seen With Nasdaq 100 Velocity Stalling at 2000 Peak, Bitcoin Hoard Fuels One of World’s Biggest Crypto Fortunes, Fed to Hike Rates in 2023 But Dots Won’t Show It, Economists Say, Oil Falls for First Week in Two Months With Rally Losing Steam, U.K. Pension Fund Nest to Invest $347 Million in Renewable Power, Bond Market’s ‘Game of Chicken’ With Fed Is Set for a Reckoning, FOMC meeting, retail sales: What to know in the week ahead, Greensill Says He Warned Credit Suisse Weeks Before Collapse, NZD/USD Forex Technical Analysis – Weakens Under .7179, Strengthens Over .7234, Bitcoin Hits Another Record and Leaves Other Asset Classes Trailing, Electric Cars Will Cost More Using Ethically Sourced Batteries, Bob Dylan, Neil Young, and other old rockers are the hottest new asset class, Stock market news live updates: Dow reaches fresh record high, tech stocks slide as Treasury yields climb, Wall Street Weekahead: Energy shares look for next spark as investors eye recovering economy, Lordstown Motors Sinks After Attack by Short That Hit Nikola, Stimulus checks sent to wrong bank accounts for some Americans checking IRS ‘Get My Payment’ tool. Yields on that maturity have become unmoored in recent weeks, surging amid speculation that the central bank will need to start a cycle of rate hikes perhaps a full year earlier than officials have indicated. (Updates CEO’s response in eighth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Chairman Jerome Powell is likely to affirm a loose stance that stops short of the heightened activism of the European Central Bank, which last week pledged to frontload bond purchases.The Bank of England might take a view similar to the Fed’s as it focuses on growth risks still dominating the outlook. One way of seeing the impact of that rotation out of tech is to plot the Nasdaq’s relative altitude versus the S&P 500, a gap that after briefly exceeding its level from 2000 has recently narrowed. Following the completion of the call, a telephonic replay will be available through 11:59 PM ET on August 13, 2020 at (855) 859-2056 from the United States or (404) 537-3406 internationally with recording access code 4784405. View source version on businesswire.com: https://www.businesswire.com/news/home/20201015006017/en/. Dropbox EPS for the twelve months ending December 31, 2020 was $-0.62, a 376.92% increase year-over-year. Dropbox Announces Fourth Quarter and Fiscal 2020 Results. A number have come under close scrutiny, including Velodyne Lidar Inc., whose founder left amid a fight with its board.Lordstown, according to Hindenburg, “has consistently pointed to its book of 100,000 preorders as proof of deep demand for its proposed EV truck. The reported EPS for the same quarter last year was $0.03. 16, 2020-- The consensus EPS forecast for the quarter is $0.05. Dropbox Q1 2020 Earnings Preview. This backdrop only intensifies the focus on the Fed’s March 16-17 meeting, officials’ next chance to counter speculation that tightening will begin as soon as late next year.“The Fed next week will have to walk a fine line between either pushing back against market expectations or allowing them to stand,” said Kevin Walter, co-head of global Treasuries trading for Barclays Plc.Without Fed pushback, he said, “there might be more pressure on the belly of the curve,” in which case the best steepeners would be the spreads between 2-year yields versus 5- and 7-year rates that have room to rise as traders price in tightening.2022 ViewThe swaps market is reflecting a roughly 75% chance the Fed lifts rates from near zero by around the end of 2022. The market is assuming a little too much in terms of what OPEC+ will do.”The availability of crude, meanwhile, remains tight due to the OPEC+ curbs. He emphasized the importance of financial conditions, which remain accommodative, although tech stocks did sink on Friday as yields surged.Five-year inflation expectations at the highest since 2008 and robust jobs data have only reinforced bets that the Fed will need to tighten more quickly than it’s been forecasting. “The market is definitely playing a game of chicken with the Fed, by testing how high yields can get before tightening financial conditions and forcing the Fed to step in.”WHAT TO WATCHEconomic calendar:March 15: Empire manufacturing; Treasury International Capital flowsMarch 16: import/export prices; retail sales; industrial production; business inventories; NAHB housing market indexMarch 17: MBA mortgage applications; building permits; housing starts; FOMC decisionMarch 18: jobless claims; Philadelphia Fed business outlook; Langer consumer comfort; leading indexFed calendar:March 17: FOMC decision; Powell press conferenceAuction schedule:March 15: 13-, 26-week billsMarch 16: 42-day cash-management bills; 20-year bondsMarch 18: 4-, 8-week bills; 10-year TIPSFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Investors this week will be closely watching the Federal Open Market Committee's (FOMC) Wednesday monetary policy decision, as well as a key report on the state of the consumer. Luc Mathys, head of fixed income in the unit, was also suspended from his role, the person said. Treasury yields resumed their march higher. Some refiners in Europe and Asia will get less crude than they asked for next month from Saudi Arabia as the producer extends its unilateral output cuts. This will be the decade.”(Updates with additional purchases in 17th paragraph. Dropbox is headquartered in San Francisco, CA, and has 12 offices around the world. View source version on businesswire.com: https://www.businesswire.com/news/home/20200716006002/en/, Dropbox to Announce Second Quarter 2020 Earnings Results, https://www.businesswire.com/news/home/20200716006002/en/. Revenue would be have grown 11.8% from the same quarter last year. Still, prices “are supported overall, with the OPEC+ disposition to hold back supplies.”The global Brent benchmark started this week with a push above $70 after attacks on Saudi Arabia’s oil infrastructure, before retreating. He expects the 2- to 10-year spread to keep widening, but has taken profits on steepeners and is looking for a better point to re-enter.Fans PersistSome still see potential in the 5- to 30-year steepener. Dropbox is one place to keep life organized and keep work moving. The decision came on the same day as a court in Australia shot down a last-ditch effort by Greensill to force the insurer to provide more coverage. Dropbox to Announce Third Quarter 2020 Earnings Results Dropbox, Inc. (NASDAQ: DBX) announced today that it will report financial results for the third quarter ended September 30, … Profits from software and internet companies are expected to expand 22% this year and 12% in 2022. The loan is due to mature at the end of the year.Executives at Credit Suisse also knew early on that a large portion of the assets in the funds were tied to Sanjeev Gupta, a Greensill client whose borrowings were at the center of a 2018 scandal at rival asset manager GAM Holding AG, Bloomberg has reported. On Wednesday, a version of the S&P 500 that strips out market cap bias -- treating Apple Inc. the same as News Corp. -- hit an all-time high even as the Nasdaq 100 was roughly 8% below its February record, a divergence not seen in two decades.That’s raising alarms for anyone who lived through the dot-com crash. Dropbox stock --which is up 5% today to trade at $21.38 -- boasts a stable 19% lead in 2020, with recent pullbacks contained by the ascending 20-day moving average. Advocates champion the cryptocurrency as a store of value akin to gold that can act as a hedge against inflation and a weaker dollar. “Evidence continues to mount that the technology sector has finally relinquished its position as key global leadership.”The Nasdaq 100 is poised to trail the S&P 500 for a second month in a row. Look for … We’re still very early. Most of the world’s supply comes from the Democratic Republic of Congo, with as much as a third of that supplied by small-scale miners who often work in dangerous conditions. Fourth Quarter Revenue of $504.1 Million, Up 13% Year-over-year Net Cash Provided by Operating Activities of … Central banks in Norway and Russia may signal shifts to a more hawkish stance, while officials Brazil and Turkey could deliver the Group of 20’s first rate hikes of 2021.What Bloomberg Economics Says:“Central banks went into the Covid crisis together. Dropbox reported third-quarter 2020 non-GAAP earnings of 26 cents per share that beat the Zacks Consensus Estimate by 36.8% and doubled from the figure reported in the year-ago quarter. Total Dropbox earnings for the quarter were $32.70 million. Hefty monetary and fiscal stimulus, surging demand for copper, which accounts for about half of the country’s exports, and one of the world’s best vaccine rollouts have pushed some 2021 GDP estimates over 6%.For more, read Bloomberg Economics’ full Week Ahead for Latin AmericaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- Investors are again reassessing one of the bond market’s premier reflation trades -- the curve steepener -- as expectations for growth and inflation perk up at a clip that was hard to imagine just a few months ago.Whereas back in December the thought was that the Federal Reserve might tamp down long-term Treasury yields, the issue now lies with shorter-dated ones -- 5-year rates. • Dropbox, Inc. (DBX) Q4 2020 Earnings Call Transcript Business Insider 2021-02-19 03:31:00 EDT • Dropbox slips to a loss after taking $400 million real estate hit due ... CNBC 2021-02-19 03:25:00 EDT and CanadaThe Federal Open Market Committee, holding its second meeting of the year March 16-17, is almost certain to keep interest rates near zero and pledge to continue its asset purchases at the current pace. Dropbox to Announce Fourth Quarter and Fiscal 2020 Earnings Results January 28, 2021 SAN FRANCISCO --(BUSINESS WIRE)--Jan. 28, 2021-- Dropbox, Inc. (NASDAQ: DBX) announced today that it will report financial results for the fourth quarter and fiscal year ended December 31, 2020 after market close on Thursday, February 18, 2021 . Q4 2020 DBX Investor Presentation 2.9 MB. In 2000, when the market started a three-year crash, the index had 27 sessions where it rose at least 4%. The company will also hold a conference call on the same day at 2:00 PM PT / 5:00 PM ET to discuss its financial results with the investment community. Inflation is seen slightly higher than three months ago, with the unemployment rate falling to 5.0% at year’s end, the same as in the December projections.The FOMC is likely to continue to forecast near-zero rates through 2023, though it’s a close call, with a third of economists surveyed looking for a median Fed projection of higher rates by then.In December, one official penciled in a quarter-point increase during 2022, with five seeing hikes in 2023.“Having a forecast of rising rates seems very unlikely when we are just beginning to discuss how much inflation will move up, for how long, how much the unemployment rate will drop,” said Nathaniel Karp, BBVA chief U.S. economist. For more information on our mission and products, visit dropbox.com. For the Fed and Bank of England, slightly higher yields can be tolerated as an early sign of recovery. That shift has roiled the outlook for a classic iteration of the reflation wager, a widening gap between 5- and 30-year yields, even as the narrative of a stimulus-fueled recovery has only gained momentum.The key takeaway is that the bet on a steeper curve isn’t kaput because yields are still generally seen as rising further. About a third of the assets in the strategy’s flagship were linked to Gupta’s GFG Alliance companies or his customers as of April 2018, according to a filing.On Nov. 5, Greensill agreed with Credit Suisse to pay as much as $390 million in any shortfall from the failure of its assets. He and his fellow executives, without admitting or denying the allegations, paid $11 million to the Securities and Exchange Commission in December 2000, including $1 million in fines.“It’s made us careful and humble and focused,” Saylor said. Stocks ended mixed on Friday as technology stocks came under renewed pressure. We are going to take a look at Dropbox Stock Earnings and The Trade Desk Stock Earning. By contrast, the median in Bloomberg’s December survey had no change in rates until 2024 or later.What Bloomberg’s Economists Say...“While the economic projections will change, we do not expect rate expectations to move much at all. Bitcoin traded for a few cents for several years after its debut more than a decade ago.“Bitcoin’s resilience is proving to be the stuff of legend,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, a crypto lender. The Swiss bank “was aware of the difficulties that Greensill Capital was having in renewing the TBCC policies and the likely consequences of a failure to renew,” the financier said in newly disclosed court documents.The documents add a new twist to a saga that rocked markets when Credit Suisse froze $10 billion of funds March 1 over valuation uncertainties. https://www.businesswire.com/news/home/20201015006017/en/, Merkel’s Party Slumps to Historic Low in German State Votes, Merkel's CDU thumped in state votes, hurting her would-be successor, Yellen Says U.S. Inflation Risk Remains Small, ‘Manageable’, Global Central Banks Confront Enthusiasm of Investors: Eco Week, Box Office: 'Raya and the Last Dragon' Repeats No. DBX Investor Supplement 274.1 KB. Billionaire investor Mike Novogratz, who runs Galaxy Digital Holdings Ltd., has said that Bitcoin could reach $100,000 by the end of the year.“Stimulus checks, Elon Musk’s relentless support, short-sellers throwing in the towel, and weekend liquidity were just what was needed to send Bitcoin above the $60,000 level,” said Ed Moya, senior market analyst at Oanda Corp. “Bitcoin once again seems to be an unstoppable force and no one wants to get in the way of this momentum trade.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Bitcoin, the world's biggest cryptocurrency, on Saturday crossed a record high of $60,000. “Forging documents like bills of lading and others needed for trades is not that big a problem.”U.S. Third Quarter 2020 Earnings Release 171.4 KB. He described the events that led to the unraveling of his eponymous firm as “something of a perfect storm.”In the statement, Greensill also revealed a 110 million-euro ($131 million) loan taken out last July by Greensill Capital from Greensill Bank AG, the company’s German lender. How do they plan to make their money back? That is the environment that led us to decide we should consider Bitcoin as a treasury reserve asset.”‘Every Scar’Not everyone agrees with the strategy.“Saylor equated Bitcoin to a bank – that’s just ridiculous,” said Marc Lichtenfeld, chief income strategist at the Oxford Club, a financial-research firm that has no stake in MicroStrategy. The firm holds a short position in Lordstown, so it stands to gain from a drop in the shares.While the truckmaker’s chief executive denied the allegations, the short-seller’s missive set the stage for Lordstown having to use its March 17 earnings report, its first as a public company, to defend itself.The shares tumbled 17% to $14.65 at 1:32 p.m. in New York after dropping as much as 23%, the most intraday since Sept. 24. With more than 600 million registered users across 180 countries, we’re on a mission to design a more enlightened way of working. Wall Street economists’ focus will be on the central bank’s quarterly forecasts, including whether the panel includes an initial rate hike in the 2023 projections, in response to a pickup in the outlook for growth.A strong recovery from the Covid-19 recession is likely to prompt Fed Chair Jerome Powell and his colleagues to lift interest rates in 2023, but that isn’t going to show up in their forecasts this week, a survey showed.In terms of upcoming economic data, investors will be watching for the latest reading on retail sales, industrial production, housing starts and weekly jobless claims to gauge the strength of the recovery as more states drop restrictions on activity and vaccines are deployed more widely.For more, read Bloomberg Economics’ full Week Ahead for the U.S.Europe, Middle East, AfricaAside from the BOE decision, investors watching the U.K. may take notice of changes to the list statisticians use to gauge living costs on Monday, with pandemic-related changes to Britons’ lifestyle expected to be reflected in the updated basket of goods and services.ECB President Lagarde will speak to EU lawmakers in Brussels on Thursday, a week after her institution pledged to ramp up buying government debt in coming months in a bid to a contain rising bond yields that threaten to derail the euro area’s economic recovery.The week also sees a flurry of rate decisions elsewhere across the region, with central banks in the Norway and Egypt expected to stay on hold.The Bank of Russia is also forecast to keep its monetary settings unchanged, but officials are pivoting from a string of cuts aimed at stimulating the economy through the pandemic last year to a tightening stance as inflation surges. It’s a federation of seven emirates including Fujairah, though Abu Dhabi is the capital and holds the most sway politically. In the same quarter last year, Dropbox's earnings per share (EPS) was -$0.04. “At this point, however, prices are a little overdone. The UAE is one of the U.S.’s closest allies in the region. Meanwhile, Indian fuel sales dipped in February amid higher pump prices, but demand has been climbing in the U.S. and the U.K.“There was this bullish demand scenario out of Asia, in particular India, but that may be plateauing,” said John Kilduff, a partner at Again Capital LLC. Others argue that the rally is a giant stimulus-fueled bubble on track to burst like it did in the 2017-2018 boom-and-bust cycle.Industry participants and some strategists point to wider take up as one reason why the current bull run is different.Examples include Tesla Inc.’s $1.5 billion investment in Bitcoin and Chief Executive Officer Elon Musk’s endorsements of the digital asset on social media. It’s benefiting from optimism in financial markets after President Joe Biden signed the $1.9 trillion pandemic-relief bill into law.After ending last year with a fourth-quarter surge of 170% to around $29,000, Bitcoin jumped to $40,000 seven days later. Senior members of the establishment.”Raise DebtSaylor’s appetite to acquire Bitcoin didn’t stop after the company’s first purchase. The Zacks consensus estimate is for adjusted profit of 23 cents, up 44% from the year-ago quarter. Refiners Seen Cut By Rising Biofuel CostsOPEC on Thursday sounded a note of caution on the outlook, trimming its forecasts for the amount of crude it will need to pump over the next two quarters. Total revenue increased 16% to $467.4 million. August 6, 2020 Dropbox Inc. (NASDAQ: DBX) reported second quarter 2020 earnings results today. It’s started an internal probe into the collapse of the supply chain finance strategy.The scandal is also raising fresh questions about the firm’s risk management after a series of missteps and Warner’s role after she signed off on a $140 million loan to Greensill in late October, overruling some risk managers, people familiar with the matter said recently. Dropbox, Inc. (NASDAQ:DBX) Q2 2020 Earnings Conference Call August 06, 2020, 05:00 PM ET Company Participants Lev Finkelstein - VP, Corporate Finance and Strategy Drew Houston - … )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- A strong recovery from the Covid-19 recession is likely to prompt Federal Reserve Chair Jerome Powell and his colleagues to lift interest rates in 2023, but that isn’t going to show up in their forecasts this week, a survey showed.Economists surveyed by Bloomberg News see two quarter-point hikes in 2023. The consensus earnings per share (EPS) of $0.19/share is based on a poll of 13 analysts and represents a growth in eps of 42.8% over the same quarter last year, when the … Such an operation, involving the sale of shorter-dated holdings and purchase of longer maturities to control yields, would put more pressure on the belly, he says. “Every scar informs you, and I wouldn’t be who I am without having lived through those experiences.”Steady RevenueSaylor has continued to run the analytics software business he founded in 1989, and has overseen annual revenue streams of around $500 million for the last decade, though sales have dipped in recent years.Bitcoin’s price has soared in recent months, hitting a record above $58,000 last month as big investors pile in and the asset class matures.Saylor shrugs off concern about Bitcoin’s volatility and said crypto critics are behind the curve. Dropbox, Inc. Q2 2020 Earnings Call Aug 06, 2020, 5:00 p.m. Under the agreement, FIOGC was responsible for delivering the crude and chartered the supertanker Achilleas for the journey to China.The U.S. government moved to seize the cargo late last year after the Achilleas’ Greek owner, Capital Ship Management Corp., alerted authorities to the possibility it had unknowingly taken on Iranian crude, after believing it came from Iraq.Houston DischargeThe Achilleas rerouted to the U.S. and the crude was discharged in Houston this month. It’s easy to take pot shots, especially when you’re short in a stock,” Burns said. After all, big up days are not uncommon during a downtrend. Dropbox is headquartered in San Francisco, CA, and has 12 offices around the world. On Friday, Saylor tweeted that MicroStrategy bought 262 additional Bitcoins for $15 million in cash, bringing the total to about 91,326. Dropbox, Inc. (NASDAQ: DBX) announced today that it will report financial results for the fourth quarter and fiscal year ended December 31, 2020 after market close on Thursday, February 18, 2021. “We will have more demand than we can possibly build.”Hindenburg said Lordstown has no truck ready to sell and that a former employee of the company said delays will put production at least three years away.“We are on track for betas this month and start of production in September,” Burns said in a text message. Even less likely would be altering the mix of Treasury and mortgage-backed securities, or placing a numerical target on Treasury yields, known as yield-curve control, they said.Powell’s current term as chair is scheduled to end next February. It’s just due for a re-think. Saylor, 56, turned his attention to Bitcoin.“People still aren’t sure: Are we crazy or are we not crazy?” Saylor said. In fact, while a few dots may drift higher on the dot plot, we expect the center of the Committee to hold the line in terms of not acknowledging any change in the exit timeline.”-- Carl Riccadonna, economistFOMC ForecastsThe committee, making its first quarterly economic forecasts of the year, will raise its estimates of 2021 growth and edge up the inflation call, while not bringing forward a winding down of asset purchases or interest-rate hikes, in the view of the 41 economists, who were surveyed March 5-10.The Fed’s closely watched forecasts are likely to show gross domestic product increasing 5.8% in 2021, the survey found, up from 4.2% in the Fed’s December projections. All eyes will be on next week’s International Energy Agency demand forecasts.
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