Fun

Roku Shares in Free Fall as FedEx Stock Steadies After Wednesday Rout

News Feed - 2019-09-19 08:09:47

The shares of streaming devices manufacturer and online media content aggregator Roku continue to tumble in the pre-market hours after they slid by over 13% on Wednesday. On the other hand, Fedex which was another big loser on Wednesday after falling by 12.92% seemed to have contained the bleeding in Thursday’s pre-market hours. Comcast Lands Severe Blow


Roku’s tumble followed a move by telecommunications conglomerate Comcast to introduce a service that will directly compete with the streaming devices maker. After closing Tuesday at slightly over $150 per share, the stock Roku tumbled by 13.71% on Wednesday to end the day at below $130 per share. Roku"s stock price movements | Source: TradingView


In the Comcast move, the telecommunications conglomerate aimed directly at the core of Roku’s business – its streaming boxes. Specifically, Comcast will turn a paid-for streaming box known as Xfinity Flex into a free product to subscribers of its Xfinity Internet-only service. Comcast announces Roku competitor.


Previously, Comcast charged $5 per month for the streaming box which allows users to stream content from a sea of apps and platforms including Amazon Prime Video, YouTube and Netflix. Unlike Roku’s, Comcast’s stock, on the other hand, barely moved on Wednesday and closed the day slightly higher after appreciating by 0.58%.


Despite the drop, Roku is still nearly three times its price in January. Since the year started the stock has climbed by 294%. It now has a market cap of $17.5 billion. Fedex delivers the bad news



Fedex’s drop of nearly 13% on Wednesday came after its first-quarter earnings missed market expectations and Wall Street analysts downgraded the stock.


Earlier in the week, the courier services firm had cut its guidance for fiscal 2020 by around 18%. Fedex chairman and CEO, Frederick Smith blamed the pessimistic outlook on decelerating global economic growth and trade tensions: Our performance continues to be negatively impacted by a weakening global macro environment driven by increasing trade tensions and policy uncertainty.


This saw the stock fall from slightly above $173 to around $150, a 12.92% drop. Fedex stock price movements | Source: TradingView This article was edited by Samburaj Das.

News Feed

US Real Estate Market Shudders: Experts Predict 40% Lower Sales, March Contracts Dip by 21%
US Real Estate Market Shudders: Experts Predict 40% Lower Sales, March Contracts Dip by 21%According to the National Association of Realtors, pending contracts for property sales dr
Rakesh Upadhyay4 hours agoPrice analysis 7/5: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC, MATIC, DOTBullish crypto traders are struggling to clear the overhead barrier in Bitcoin and select altcoins, indicating that bears h
Argentinian Exchange Ripio Raises $50 Million in Latest Funding Round Led by DCG
Argentinian Exchange Ripio Raises $50 Million in Latest Funding Round Led by DCG Ripio, a Latin American (Latam) exchange headquartered in Argentina, raised $50 million in its late
JPMorgan, DBS Bank, SBI Complete Live Defi Trades on Public Blockchain
JPMorgan, DBS Bank, SBI Complete Live Defi Trades on Public Blockchain JPMorgan, DBS Bank, and SBI Digital Asset Holdings have completed their first lives trades on a public blockc
Rich Dad Poor Dad’s Robert Kiyosaki Advises Investors How to Profit From Inflation
Rich Dad Poor Dad’s Robert Kiyosaki Advises Investors How to Profit From Inflation The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has given some a
The Search for Satoshi Nakamoto: A Look at 7 Suspected Bitcoin Creators
The Search for Satoshi Nakamoto: A Look at 7 Suspected Bitcoin CreatorsDuring the last decade, cryptocurrency enthusiasts have discussed the true identity of Bitcoin’s creator
Record Producer Steve Aoki and Spawn Creator Todd McFarlane to Launch Solana-Powered NFT Market
Record Producer Steve Aoki and Spawn Creator Todd McFarlane to Launch Solana-Powered NFT Market On November 9, the two-time Grammy-nominated producer and DJ, Steve Aoki, announced
Bitcoin Price Crash Below $100,000 Still Possible: Analysts Issue Downtrend Warnings
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Terra Proposal Seeks to Expand UST Stablecoin to 5 Different Defi Protocols
Terra Proposal Seeks to Expand UST Stablecoin to 5 Different Defi Protocols On January 6, Terra Research announced a proposal to expand the network’s stablecoin asset terrau
Martin Young4 hours agoFederal Reserve’s banking bailouts reach a new weekly high of $103BThe Fed’s emergency loan facility has reached new highs as embattled banks are needing a central bank bailout.1453 Total views
Tesla Has $1.5 Billion Worth of Bitcoin on Its Balance Sheet, Plans to Accept BTC for Products
Tesla Has $1.5 Billion Worth of Bitcoin on Its Balance Sheet, Plans to Accept BTC for Products The publicly listed firm Tesla has announced in a Securities and E
Worldcoin tightens privacy checks, allows users to unverify World ID
Helen Partz11 hours agoWorldcoin tightens privacy checks, allows users to unverify World IDSam Altman’s Worldcoin is taking measures to improve the protection of user data and ensure that its platform is available only