Stocks trade in range as a big week of earnings awaits. Plus, Ralph Nader blasts buybacks as a CEO giveaway, but are they actually a good use of capital? And Jason Calacanis sounds off on startups and angel investing — and why he believes in former Uber CEO Travis Kalanick. Plus a look ahead to everything you need to know about tomorrow, today. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
Winners and losers
Stocks in the red today include GE following a massive management shakeup in which its CFO, marketing chief and top international executive will all leave the conglomerate; Yelp as Cantor Fitzgerald downgraded shares to ‘neutral’ claiming many positives for the company are already priced in; and Tesla, with shares under pressure as the Wall Street Journal reported some parts of the Model 3 were being made by hand. Last week Tesla revealed it made only 260 Model 3’s last quarter.
Stocks higher today include OneMain Financial as the Journal reported the subprime lender is in talks to sell itself; Veritone as the AI platform’s CEO defended the company’s prospects after it was targeted by short-seller Citron Research; and Walmart, with shares getting a lift today as the world’s largest retailer said it would speed up the process for in-store returns of online purchases, using the Walmart app. Walmart has 4,700 stores in the US.
Jason Calacanis on his new book, and the Valley
Our next guest thinks angel investing is a little like betting. So how do you pick the right horse? Jason Calacanis is the author of the new book “Angel.” It’s advice for anyone looking to put their money into the next big thing.