Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Guggenheim restrained its enthusiasm for shares of Lyft on Monday, beginning coverage of the rideshare company's stock with a neutral rating due to what the firm sees as a hazy outlook.
"We simply have to look too far out with too many big assumptions in order to make a case for the stock," Guggenheim analysts Jake Fuller and Ali Faghri wrote in a note to investors.
Lyft debuted on Friday to much fanfare, with more than 70 million shares exchanged on its first day of public trading. While the stock soared more than 20 percent intraday Friday, hitting a high of $88.60 a share, Lyft shares sold off during the afternoon and closed at a modest 8.7 percent gain. The stock continued to fall on Monday, closing down 11.9 percent at $69.01 a share, below its IPO price of $72 a share.
Fuller and Faghri said Guggenheim does "understand the excitement" surrounding Lyft's IPO, as the company as a large market to grow into and is on the "front lines of a shift" in transportation. But several "key issues" remain for Lyft, the analysts said. Those include whether the company can sustain its revenue growth, build its investments in nascent markets like electric scooters and self-driving, all while driving its total valuation higher.
"Our rating is primarily a function of a lack of visibility on the path to profitability," Fuller and Faghri said. "LYFT did provide healthy margin objectives, but it did not really talk about how it might get there"
Guggenheim does not have a price target on the stock.