3/6/2023 0 Comments Linkedin stock yahoo financeAnd that's where Grab really gets pulled into the conversation there in the markets that they operate, where consumers right now for either the pricing that they're seeing higher or the options that are on the market in getting into micromobility or other forms of mobility within a broader parent app, if you will, as Uber's and Lyft has tried to add on some of that micromobility element.įor Grab, it's very similar but in a market where there is much more of that micro-ability- micromobility, that is actually taken advantage of by the consumers here. And the stock has not done very well since it did come public through that.īRAD SMITH: Yeah, you think about the ride-sharing environment- not just here in the US, but internationally. But this is a company, I believe it came public through a SPAC, if I'm not mistaken. That said, Grab also might be getting caught up to some extent in just the selling that we're seeing in Asian trading. So hence the equal weight- a little bit of good, a little bit of bad. The analyst does say that the company's a category leader in food delivery and ride hailing in Southeast Asia with a very strong competitive position. And the analyst says, car rental costs are a substantial burden for drivers and push up fares. The price target being set at $3.00, as you see there. It's a neutral-weighting so it's interesting to see it taking such a hit. The stock had been on the move lower, down 7% right now, after Barclays initiated coverage of the Asian delivery app with doubts over its long-term profitability. JULIE HYMAN: I'm taking a look at Grab Holdings. The wider CDS spread will likely translate into higher borrowing costs too, as it reflects greater concerns about the bank's creditworthiness.Yahoo Finance Live anchors discuss a mixed note from Barclays on Grab Holdings. If Credit Suisse decides to issue shares to fund its restructuring plans, the plunge in its stock price this year will make a capital raise much more dilutive for existing shareholders. The larger spread suggests investors now see a far higher chance of the bank defaulting on its debts. Moreover, the spread on five-year credit-default swaps (CDS), which investors often buy as insurance against a company defaulting, climbed as high as 350 basis points, up from about 55 basis points at the start of this year, the FT reported. Bad news for Credit SuisseĬredit Suisse shares fell as much as 12% on Monday morning, extending their decline this year to 60%. The BoE also liaised with Swiss authorities after the Credit Suisse memo added fuel to the firesale in markets, The Telegraph reported. Senior bank executives rushed to reassure large clients, counterparties, and investors about their liquidity and capital position over the weekend, the Financial Times reported. A large Credit Suisse investor told a Fox reporter the bank's investment arm is a "disaster," and the lender's credit-default swaps were trading as if a "Lehman moment was about to hit." Instead of calming anyone, the memo set Twitter and Reddit alight with wild predictions of the bank imploding and triggering the collapse of the global financial system. In this case, Credit Suisse CEO Ulrich Koerner told staff in a Friday memo that it was a "critical moment" for the bank ahead of the unveiling of its restructuring plan on October 27, and they should expect more market volatility. With all that kindling, it should be no surprise that a spark would cause a massive blaze. The backlash spurred Prime Minister Liz Truss and her team on Monday to scrap their planned removal of the top rate of income tax. The news sent the British pound to a record low against the US dollar, spiked the UK government's borrowing costs, and prompted a rare Bank of England intervention. The new UK government also roiled markets last week by announcing a slew of unfunded tax cuts and spending programs, which fueled fears of worse inflation and more rate hikes. Rampant inflation, soaring interest rates, early signs of a global economic downturn, and tumbling asset prices have spooked investors in recent months, and made them worry about what's coming next. Credit Suisse is fending off concerns about its financial health, with some investors going as far as suggesting the Swiss bank is at risk of suffering a Lehman Brothers-style collapse that could upend the global financial system.
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