Cathie Wood’s ARK Innovation ETF could be headed for an explosive breakout, chart pattern suggests

Ark Invest CEO Cathie Wood’s flagship fund could be headed for a sharp bounce if a bullish technical pattern is to be believed. There is a “bullish ascending triangle” in place in Wood’s Ark Innovation ETF (ARKK), according to Douglas Busch, founder and CEO of ChartSmarter. The so-called ascending triangle is created by price moves … Read more

Starz could turn into ‘acquisition machine’ after spinoff from Lionsgate

Liberty Media’s John Malone Michael Kovac | Getty Images Written in the Starz? Lionsgate is planning a spinoff of Starz, home of “Outlander” and “Power,” by early next year. Vivendi’s Canal Plus and private equity firm Apollo Global, in tandem with streaming distributor Roku, have both made preliminary bids for a 20% stake, sources say. … Read more

JD.com, Roku, Alibaba and more

Check out the companies making headlines before the bell: Adobe (ADBE) – Adobe shares fell 3.7% in premarket trading after the software company issued weaker-than-expected financial guidance for the current quarter and the full year. Adobe is facing headwinds from the war in Ukraine and unfavorable foreign exchange rates, although its most recent quarter did … Read more

Cathie Wood says market is pretty close to a bottom, tech stocks will hit trough and recover first

Ark Invest’s Cathie Wood said Tuesday technology stocks will hit the bottom before the broader market, repeating a historical trend from past crises. In the wakes of the dot-com bubble and 2008 financial crisis, the tech-heavy Nasdaq Composite hit its trough months before the S&P 500 did and therefore recovered first. The innovation-focused investor believes … Read more

Campbell Soup, Moderna, Western Digital and others

Check out the companies making headlines before the bell: Campbell Soup (CPB) – The food producer’s shares rallied 3.7% in the premarket after Campbell reported an adjusted quarterly profit of 70 cents per share, 9 cents above estimates. Sales also beat forecasts, and the company raised its full-year sales outlook. Campbell also maintained its prior … Read more

Gap, Apple, Tesla, Netflix, Citi, CVS, Ulta

Here are Friday’s biggest calls on Wall Street: Jefferies upgrades Ulta to buy from hold Jefferies said it’s turning more constructive on shares of Ulta. “We are reframing our thesis, upgrading to Buy with an ‘all clear’ signal re: make-up recovery, favorable channel shift, share gains, leverage on tighter costs & inventory, embedding freight cost … Read more

Snap warning shocks digital media stocks; Facebook, Pinterest drop

Evan Spiegel, CEO and co-founder of Snap Inc. Adam Galica | CNBC Social media companies were already having a rough year from the cutback in digital ad spending caused by rising inflation, supply chain challenges and the war in Ukraine. Forecasts for the second quarter called for meager growth at best, and stock prices were … Read more

Snap dives 32% and it’s dragging other stocks down with it

Evan Spiegel, co-founder and chief executive officer of Snap Inc., speaks during the virtual Google Pixel Fall Launch event in New York, on Tuesday, Oct. 19, 2021. Michael Nagle | Bloomberg | Getty Images Snap shares plunged 32% in the pre-market, setting the company up for its worst day ever and dragging down other social … Read more