(RTTNews) – The China stock market has finished higher in back-to-back sessions, surging more than 140 points or 4.4 percent along the way. The Shanghai Composite Index now sits just beneath the 3,360-point plateau and it’s got a positive lead again for Tuesday’s trade.

The global forecast for the Asian markets is upbeat, with tech shares expected to lead the way higher. The European markets were mixed and the U.S. bourse were broadly higher and the Asian markets are tipped to follow the latter lead.

The SCI finished sharply higher on Monday following gains from the financials, properties and oil and insurance companies.

For the day, the index soared 86.39 points or 2.64 percent to finish at 3,358.47 after trading between 3,286.11 and 3,359.15. The Shenzhen Composite Index surged 73.40 points or 3.31 percent to end at 2,289.36.

Among the actives, Industrial and Commercial Bank of China climbed 1.02 percent, while Bank of China collected 0.62 percent, China Construction Bank jumped 1.47 percent, China Merchants Bank rallied 3.81 percent, Bank of Communications advanced 1.10 percent, China Life Insurance soared 4.48 percent, Ping An Insurance surged 3.80 percent, PetroChina gained 1.21 percent, China Petroleum and Chemical (Sinopec) added 0.76 percent, China Shenhua Energy increased 0.97 percent, Gemdale spiked 2.40 percent, Poly Developments accelerated 2.30 percent and China Vanke gathered 1.00 percent.

The lead from Wall Street is broadly positive as stocks moved sharply higher on Monday, extending the strong upward move seen in recent sessions and sending the major averages to their best closing levels in a month.

The Dow jumped 250.62 points or 0.88 percent to finish at 28,837.52, while the NASDAQ surged 296.32 points or 2.56 percent to end at 11,876.26 and the S&P 500 perked 57.09 points or 1.64 percent to close at 3,534.22.

Technology stocks led the

a close up of a logo: The Twilio (TWLO) logo is displayed over a white background on a smartphone screen.

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The Twilio (TWLO) logo is displayed over a white background on a smartphone screen.

Twilio (NYSE:TWLO) stock is on the rise Monday following merger and acquisition (M&A) news that it’s acquiring Segment for $3.2 billion.

a close up of a cell phone screen with text: The Twilio (TWLO) logo is displayed over a white background on a smartphone screen.

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The Twilio (TWLO) logo is displayed over a white background on a smartphone screen.

Twilio won’t be spending cash to acquire the cloud data company. Instead, it’s going to fund the entirety of the $3.2 billion purchase price with shares of TWLO stock. This will have Segment becoming a division of Twilio.

Twilio notes that the deal will improve its customer engagement offerings to developers and companies. It will also increase its total addressable market to $79 billion. It notes that this should speed up its growth plans.

Jeff Lawson, co-founder and CEO of Twilio, said the following about the M&A news.

“Combined with Twilio’s Customer Engagement Platform, we can create more personalized, timely and impactful engagement across customer service, marketing, analytics, product and sales. We are thrilled to welcome Segment to the Twilio team.”

Twilio points out that the transaction has the support of both companies’ Boards of Directors. The deal still needs to complete customary closing conditions before completion. That includes approval from regulators and shareholders. So long as there’s no trouble in these areas, the deal is on target to close in the fourth quarter of 2020.

The deal has Twilio getting financial advice from Morgan Stanley and legal advice from Cooley LLP. Segment’s financial and legal advisors for the deal are Qatalyst Partners and Goodwin Procter, respectively.

TWLO stock was up 7.5% as of Monday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.



Shares of department store Dillard’s are surging close to 30% on Monday after a regulatory filing revealed that Ted Weschler, one of the highest ranking money managers at Warren Buffett’s storied conglomerate and investment vehicle, Berkshire Hathaway, owns a nearly 6% stake.

Key Facts

Released just minutes after the market-close on Friday, a filing with the Securities and Exchange Commission revealed that Ted Weschler, a Berkshire money manager who many believe could be the firm’s next chief investment officer, acquired shares in late September that pushed his personal holdings past the 5% ownership threshold required for public disclosure. 

Weschler now owns 1,081,000 shares of Little Rock, Ark.-based Dillard’s–equal to roughly 5.89% of the firm’s shares outstanding, the filing notes. 

Shares of Dillard’s soared as much as 40% on Monday, pushing the firm’s market capitalization well past $1 billion, and settling at about $55 per share as of 3 p.m. EDT, about 30% higher than Friday’s closing prices.

Dillard’s stock is still down nearly 22% for the year, but the retailer is now doing much better than its peers: The S&P 500 Department Stores Index is down about 54% in 2020.

Public filings show that Weschler also has substantial personal stakes in healthcare company DaVita and Liberty Media Corp, which owns stakes in SiriusXM, the Atlanta Braves and Formula One; both are firms in which Berkshire also has large stakes.

Berkshire has no reported stake in Dillard’s.

Key Background

Like other department stores this year, Dillard’s has been slammed by the coronavirus pandemic. Total sales in the firm’s most recent quarter dropped by 35% year-over-year to $945 million, which was in line with expectations, but the firm’s loss in the quarter, of 37 cents per share, was more than 90% better than Wall Street expected. Wedbush analysts

a sign on the grass: San Felipe Street 5555 outside address stand with Marathon Oil Tower tenants on February 2016 in Houston, United States.

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San Felipe Street 5555 outside address stand with Marathon Oil Tower tenants on February 2016 in Houston, United States.

Let’s face it. Oil companies in the United States are suffering, and they have been for much of the year. Marathon Oil (NYSE:MRO) is no different and shares of MRO stock have taken up residence in Penny Stock Land.

a sign in front of a tree: San Felipe Street 5555 outside address stand with Marathon Oil Tower tenants on February 2016 in Houston, United States.

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San Felipe Street 5555 outside address stand with Marathon Oil Tower tenants on February 2016 in Houston, United States.

Oil – black Gold – Texas tea – is kind of on the ropes, thanks to a combination of events.

Paramount among these events is the novel coronavirus. The pandemic spawned by Covid-19 has devastated the global economy. Almost any company associated with the travel industry, from airlines to hotel owners to oil companies, has nearly been crushed by the rapid and intense economic slowdown.

Consumers dramatically altered their lives in response to the pandemic. They stayed home (and shopped online). Trips were canceled. Airplanes were parked because travelers were few. And layoffs and business closures have been legion.

One ripple effect has been a sharp drop in the demand for oil. As a result, prices for the historic commodity have fluctuated widely. The volatility has been impressive. It wasn’t that long ago that the price of oil was actually a negative number, a numerical oddity that stunned many investors with a clear indication that this was not a normal situation.


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What About MRO Stock?

The Houston-based energy firm, which has a market cap of about $3.46 billion, can trace its roots to 1887 and Standard Oil, taking twists and turns over the century-plus to even be a part of United States Steel.

Few people would describe Marathon Oil as a

(Bloomberg) —


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Poland’s newest stock listing became the largest company on the country’s main exchange, highlighting investor demand for technology exposure as the Eastern European nation is introduced to Nasdaq-level valuations.

Allegro.eu SA shares jumped as much as 51% to 65 zloty at the start of trading in Warsaw on Monday. The firm and its private-equity investors priced the 9.2 billion-zloty ($2.4 billion) IPO at the top end of a marketed range, cashing in on soaring demand for digital sales as consumers stuck at home indulge in virtual retail therapy.

Before the trading start, analysts at Bernstein estimated Allegro’s enterprise value to earnings before interest, taxes, depreciation and amortization to be about 37, above the likes of Amazon.com Inc and Alibaba Group Holding Ltd, but below MercadoLibre Inc. and European fashion retailer Zalando SE, according to data compiled by Bloomberg.

“Allegro was priced close to global technology leaders as it’s already one of the biggest e-commerce companies in the world, which bring interest of many funds that accept higher valuations, given oversupply of the capital,” Haitong analyst Konrad Ksiezopolski said in emailed comments. “E-commerce is a winning industry during the pandemic, which should help the stock. Time will show the impact from competition of Amazon or AliExpress, which is a real test of Allegro’s valuation.”

The company is betting on the continued expansion of online shopping in Poland, a market of 38 million people and one of the European Union’s most resilient economies. Allegro is touting lower fees, a loyalty program, a high number of local merchants and market recognition to fend off competition. Amazon.com Inc. is still selling its products to Poles from Germany, while China-based AliExpress relies on lengthy shipping processes.

A new wave of coronavirus infections in Poland may also end up benefiting the firm,