Bamboo Watchlist

Software

Uber Technologies Inc (NYSE: UBER); Stock Price: $35.56

In line with its Postmates Inc acquisition deal, Uber filed documents with the SEC disclosing the food-delivery company’s financials. Postmates revenue for the quarter ended June 30 was $160 million compared with the $71.39 million it posted in the same period in 2019. According to Forbes, Uber could turn profitable once the Postmates agreement is concluded. The stock gained 3.33% when the news broke. Click here to read more.

Biotechnology

Inovio Pharmaceuticals Inc (NASDAQ: INO); Stock Price: $12.14

Inovio disclosed that Phase 2 and 3 clinical trials for its Covid-19 vaccine candidate were on hold while it answered additional questions from the U.S. Food and Drug Administration. After the company’s response is received, the FDA will issue its decision within 30 days about whether the trial can move forward. Shares of the company fell 33.3% on Monday. We are watching to see if investors will continue to pull back from the stock. Click here to read more.

Aerospace & Defense

The Boeing Company (NYSE: BA); Stock Price: $166.08

The Chief of the Federal Aviation Administration is scheduled to conduct an evaluation flight on the Boeing 737 Max this week. This is a milestone for the U.S planemaker, the Boeing Company, that has been working to win approval to resume flights on the aircraft which has been grounded since March 2019. It will be interesting to note how the results from the evaluation flight will impact the stock and the company’s outlook. Shares were up 6% on Friday after the news. Click here to read more.

Oil & Gas E&P

Devon Energy Corporation (NYSE: DVN); Stock Price: $9.80

WPX Energy Inc (NYSE: WPX); Stock Price: $5.17

Devon Energy Corp, a U.S. oil and gas producer, is set to buy its peer WPX Energy Inc for $2.56 billion to boost its presence in the shale field. The deal which is expected to close in early 2021, is the second big merger in this field in 2020, following Chevron Corp’s agreement to buy Noble Energy Inc for $5 billion. WPX shares rose as much as 11.5% in Monday’s premarket trading while Devon was up 4.7%. Click here to read more. 

That’s all from us.

We’ll see you next week.

The above reflects the opinions of only the writers who are associated persons of Bamboo Systems & Technologies Ltd. and do not reflect the views of Bamboo Systems & Technologies Ltd. or any of its subsidiaries or affiliates. They are meant for informational purposes only. They are also not research reports. The third-party information provided therein does not reflect the views of Bamboo Systems & Technologies Ltd., or any of its subsidiaries or affiliates. All investments involve risk, and the past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit or protect against loss. There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. The price of a given security may increase or decrease based on market conditions, and customers may lose money, including their original investment.