If yields climbed but the Nasdaq didn’t move, this would indicate over-valuation, Kalish said, adding his model correctly flashed warnings in 1987 and 2000.Based on the price-earnings ratio, the Nasdaq 100 isn’t cheap relative to other stocks, even after the latest pullback. Profits from software and internet companies are expected to expand 22% this year and 12% in 2022. Find the latest Earnings Report Date for Dropbox, Inc. Class A Common Stock (DBX) at Nasdaq.com. If Dropbox can maintain a healthy chart and hold near the buy point as its earnings date approaches, it could make sense as an earnings option trade. That isn’t seen happening until 2022 in the view of a narrow majority of economists.Most of the surveyed economists also don’t expect any near-term change, such as a shift to buying long-term Treasuries. Yields on that maturity have become unmoored in recent weeks, surging amid speculation that the central bank will need to start a cycle of rate hikes perhaps a full year earlier than officials have indicated. May 06, 2020 5:35 PM ET Dropbox, Inc. (DBX) By: Jignesh Mehta, SA News Editor. Saudi Arabia’s Ras Tanura oil-export terminal -- the world’s largest -- was attacked by drones and missiles earlier this month. The next major move by the NZD/USD will be determined by trader reaction to the Fibonacci level at .7179 and the 50% level at .7234. The report will be for the fiscal Quarter ending Dec 2020, after the market closes. For more information on our mission and products, visit dropbox.com. Under the agreement, FIOGC was responsible for delivering the crude and chartered the supertanker Achilleas for the journey to China.The U.S. government moved to seize the cargo late last year after the Achilleas’ Greek owner, Capital Ship Management Corp., alerted authorities to the possibility it had unknowingly taken on Iranian crude, after believing it came from Iraq.Houston DischargeThe Achilleas rerouted to the U.S. and the crude was discharged in Houston this month. Total Dropbox earnings for the quarter were $32.70 million. Glencore Plc, which operates two of the world’s biggest industrial cobalt mines in Congo, assures its buyers like Tesla Inc. that only responsibly-sourced cobalt feeds into its products.But some Chinese companies that sell processed cobalt to Europe mix certified streams of the metal with material sourced from unregulated mines, according to the report. That’s kept bets on the widely watched spread to the 10-year rate in play, as well as versus other maturities, such as the 5- and 7-year.“Some steepeners are better than others,” said Patrick Leary, senior trader and chief market strategist for Incapital. In 2000, a shareholder filed a class-action lawsuit against MicroStrategy, alleging it misled investors over the company’s earnings by booking revenue prematurely to inflate profits.MicroStrategy agreed to restate its revenue figures and Saylor, once dubbed the wealthiest man in Washington, D.C., with a fortune of $7 billion, lost almost all of it in a matter of weeks after shares fell 95%. Billionaire investor Mike Novogratz, who runs Galaxy Digital Holdings Ltd., has said that Bitcoin could reach $100,000 by the end of the year.“Stimulus checks, Elon Musk’s relentless support, short-sellers throwing in the towel, and weekend liquidity were just what was needed to send Bitcoin above the $60,000 level,” said Ed Moya, senior market analyst at Oanda Corp. “Bitcoin once again seems to be an unstoppable force and no one wants to get in the way of this momentum trade.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Bitcoin, the world's biggest cryptocurrency, on Saturday crossed a record high of $60,000. To reflect foreign-exchange impact and lower interest rates, Dropbox brought down its 2020 free-cash-flow forecast to a range of $460 million to $470 million… The conference call can be accessed by dialing (877) 300-7844 from the United States or (786) 815-8440 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the Dropbox investor relations website at http://investors.dropbox.com. About two thirds of that investment will go toward assets that are either at the construction stage or already operational. That shift has roiled the outlook for a classic iteration of the reflation wager, a widening gap between 5- and 30-year yields, even as the narrative of a stimulus-fueled recovery has only gained momentum.The key takeaway is that the bet on a steeper curve isn’t kaput because yields are still generally seen as rising further. Treasury yields resumed their march higher. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. (Bloomberg) -- A strong recovery from the Covid-19 recession is likely to prompt Federal Reserve Chair Jerome Powell and his colleagues to lift interest rates in 2023, but that isn’t going to show up in their forecasts this week, a survey showed.Economists surveyed by Bloomberg News see two quarter-point hikes in 2023. ET Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared … Dropbox reported third-quarter 2020 non-GAAP earnings of 26 cents per share that beat the Zacks Consensus Estimate by 36.8% and doubled from the figure reported in the year-ago quarter. The conference call can be accessed by dialing (877) 300-7844 from the United States or (786) 815-8440 internationally with reference to the company name and conference title, and a live webcast and replay of the conference call can be accessed from the Dropbox investor relations website at http://investors.dropbox.com. Dropbox (DBX Quick Quote DBX - Free Report) is slated to report second-quarter 2020 results on Aug 6. Some taxpayers say the IRS ‘Get My Payment’ tool indicated that their third stimulus check was deposited into a wrong bank account that isn't theirs. “2020 was a transformational year for Dropbox and I’m proud of the team for their resilience and focus in addressing our customers’ evolving needs,” said Dropbox Co-founder and Chief Executive Officer Drew Houston. It’s part of a growing wave of investment by institutional investors into renewable energy assets.“The energy transition will require a huge amount of capital over the next 20, 30 years as more and more governments commit to net zero targets,” Alex Brierley, co-head of Octopus Renewables said in an interview. Dropbox, Inc. (NASDAQ: DBX) announced today that it will report financial results for the second quarter ended June 30, 2020 after market close on Thursday, August 6, 2020. The Swiss bank “was aware of the difficulties that Greensill Capital was having in renewing the TBCC policies and the likely consequences of a failure to renew,” the financier said in newly disclosed court documents.The documents add a new twist to a saga that rocked markets when Credit Suisse froze $10 billion of funds March 1 over valuation uncertainties. About three-quarters expect him to continue in the job, which is about the same finding in the prior survey.The central bank has occasionally made a technical change to its interest rate on excess reserves, which would not affect monetary policy. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. View source version on businesswire.com: https://www.businesswire.com/news/home/20200716006002/en/, Dropbox to Announce Second Quarter 2020 Earnings Results, https://www.businesswire.com/news/home/20200716006002/en/. Dropbox didn’t provide fourth-quarter guidance in its release, but Wall Street analysts have set a target of earnings of 20 cents per share on revenue of $494.09 million. The firm holds a short position in Lordstown, so it stands to gain from a drop in the shares.While the truckmaker’s chief executive denied the allegations, the short-seller’s missive set the stage for Lordstown having to use its March 17 earnings report, its first as a public company, to defend itself.The shares tumbled 17% to $14.65 at 1:32 p.m. in New York after dropping as much as 23%, the most intraday since Sept. 24. The run on the metal’s price is prompting mining companies to seek new reserves from Australia to the deep sea.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Investors are paying millions for the song catalogs of Bob Dylan, Neil Young, and others. (Bloomberg) -- The U.S. attempt to prevent Iran exporting oil suffered a blow after a United Arab Emirates sheikh laid claim to a cargo that Washington seized and alleged is from the Islamic Republic.A company controlled by the Emirate of Fujairah’s ruler told a U.S. court that the roughly 2 million barrels of crude was originally from Iraq.Fujairah International Oil & Gas Corp., wholly owned by Sheikh Hamad bin Mohammed Al Sharqi, said it’s an intermediary seller of the oil, according to a claim filed in a federal court in the District of Columbia.The case underscores the difficulty the U.S. faces as it tries to bar Iran from generating income from energy sales and pressure it into re-starting nuclear talks.While shipments of Iranian oil have slumped due to threat of U.S. penalties, they have picked in recent months, though their origin is often disguised. Michel Degen, head of asset management in Switzerland and EMEA, is being replaced on an interim basis by Filippo Rima, according to a person with knowledge of the matter. “At this point, however, prices are a little overdone. In a statement on its website, the bank said it was only informed “very recently” about the insurance lapse at the heart of Greensill’s downfall.The scandal continues to ripple through the bank and has claimed some early casualties. Dropbox, Inc. (NASDAQ: DBX), today announced financial results for its fourth quarter and fiscal year ended December 31, 2020. Dropbox stock --which is up 5% today to trade at $21.38 -- boasts a stable 19% lead in 2020, with recent pullbacks contained by the ascending 20-day moving average. Others argue that the rally is a giant stimulus-fueled bubble on track to burst like it did in the 2017-2018 boom-and-bust cycle.Industry participants and some strategists point to wider take up as one reason why the current bull run is different.Examples include Tesla Inc.’s $1.5 billion investment in Bitcoin and Chief Executive Officer Elon Musk’s endorsements of the digital asset on social media. The use of floating storage facilities was “particularly important in 2020” because the coronavirus pandemic hammered demand for oil and traders ran out of space at onshore tanks, according to FIOGC’s court filing.Sheikh Hamad is also a member of the UAE’s Supreme Council, the country’s executive arm. But they also expect the U.S. central bank’s own forecast, released at the same time as its policy statement at 2 p.m. in Washington on Wednesday, will show the median Fed official projecting rates staying on hold near zero throughout that year.Such a result would match the Fed’s December projections, even though U.S. lawmakers have backed almost $3 trillion in fiscal stimulus since then, including $1.9 trillion that President Joe Biden signed into law on Thursday, which -- together with accelerating vaccinations -- is boosting the economic outlook.‘Powerful Trio’“The Fed is now probing the unknown as a powerful trio of massive fiscal stimulus, monetary support and pent-up demand impact an economy released by the widespread dissemination of vaccines,” economist Lynn Reaser of Point Loma Nazarene University said in a survey response.The Federal Open Market Committee is almost certain to keep rates near zero and pledge to continue its asset purchases at the current $120 billion monthly pace at its second meeting of the year.Powell has repeatedly stressed that the U.S. labor market remains far from the Fed’s goal of full employment, making it too soon to discuss winding down Fed support as the world marks the one-year anniversary of the pandemic.Even so, three-quarters of the economists forecast the central bank will have to raise rates by the end of 2023, where the median respondent has estimated about 50 basis points of tightening. (DBX Earnings and TTD Earnings). Dropbox is headquartered in San Francisco, CA, and has 12 offices around the world. Saylor, 56, turned his attention to Bitcoin.“People still aren’t sure: Are we crazy or are we not crazy?” Saylor said. On Nov 05, 2020, Dropbox (NASDAQ: DBX) reported Q3 2020 earnings per share (EPS) of $0.08, up 300% year over year. When the majority of MicroStrategy’s cash reserves were exhausted, Saylor raised a $650 million corporate bond and used it to buy more.Saylor said he’d rather issue debt against future cash flow now than save up to buy Bitcoin in five years, when he thinks it’ll be pricier.In February, the company raised another $1.05 billion in a bonds-for-Bitcoin offering, and on March 5 it announced yet more purchases. Eight months after its first investment, the software firm has a Bitcoin holding worth more than $5 billion.Shares of MicroStrategy have rocketed almost 600% since mid-July, boosting the fortune of founder Michael Saylor, a billionaire until an accounting scandal in 2000. Some refiners in Europe and Asia will get less crude than they asked for next month from Saudi Arabia as the producer extends its unilateral output cuts. The near doubling in the price of crude has helped make shares of oil and gas companies - for years a losing bet - one of the best performing areas of the market, with outsized gains in the stocks of companies such as oil major Exxon Mobil Corp and Diamondback Energy Inc, which have surged 89% and 231%, respectively, since early November. It took just a little more than a month to breach the latest threshold. The 5-year yield at 0.84% isn’t far below its highest level since last year.But the 2-year has remained near historic lows on the view that the Fed will hold rates near zero for the immediate future. (Bloomberg) -- The European Union’s efforts to ethically source a key battery metal face headwinds that could make it more expensive for automakers to go electric.Cobalt is the battery metal at the highest risk of being exploited in ways that damage the health of people and the environment. Several tankers were targeted with mines in the Red Sea last year, while an Israeli-owned cargo vessel was struck by an explosion in the Persian Gulf in late February.FIOGC said that in June it bought the crude from an undisclosed Iraqi supplier, which presented bills of lading from Iraq’s state oil marketer SOMO as proof of origin. For more information on our mission and products, visit dropbox.com. The chief executive officer is now worth $3 billion, according to the Bloomberg Billionaires Index, joining the ranks of the world’s richest crypto holders, a list that isn’t definitive since some fortunes can’t be identified or verified.MicroStrategy’s crypto fixation began soon after the pandemic hit when the firm found it had a cash-flow problem: There was just too much of it. How do they plan to make their money back? Dropbox, Inc. (NASDAQ:DBX) Q2 2020 Earnings Conference Call August 06, 2020, 05:00 PM ET Company Participants Lev Finkelstein - VP, Corporate Finance and Strategy Drew Houston - … The reported EPS for the same quarter last year was $0.03. Q3 2020 Dropbox Earnings Conference Call. Iran said the cargo belonged to the “private sector” and that its seizure was an “act of piracy.”“I’m sure that Iranian oil is continuing to flow,” said Iman Nasseri, managing director for the Middle East at consulting firm FGE. Lordstown had advanced 77% in the 12 months through Thursday while the Nasdaq Composite Index climbed 68%.Lordstown is one of a slew of electric-vehicle startups that have gone public through mergers with special purpose acquisition companies. “Any statement to the contrary is a lie.”Airship Disaster“Hindenburgs blow up,” he continued, a reference to the 1937 airship disaster in New Jersey.The short-seller’s report on Nikola had led to a plunge in its shares, the departure of its founder and inquiries by U.S. authorities. If the company were to match the consensus estimate when it reports Thursday, earnings would be up 50.0%. (Bloomberg) -- Lordstown Motors Corp. plunged the most in five months after the short seller whose attack on Nikola Corp. led to its founder’s departure turned its sights on the electric-truck startup.Lordstown is a company “with no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities,” Hindenburg Research said. The billionaire famous for value investing sees no real value in cryptocurrency. The market is facing opposing forces from OPEC+ holding output steady and higher prices potentially encouraging a surge in U.S. shale production.“Going forward into April and May, we’re going to see pretty significant increases in demand,” said Bart Melek, head of commodity strategy at TD Securities. Inflation is seen slightly higher than three months ago, with the unemployment rate falling to 5.0% at year’s end, the same as in the December projections.The FOMC is likely to continue to forecast near-zero rates through 2023, though it’s a close call, with a third of economists surveyed looking for a median Fed projection of higher rates by then.In December, one official penciled in a quarter-point increase during 2022, with five seeing hikes in 2023.“Having a forecast of rising rates seems very unlikely when we are just beginning to discuss how much inflation will move up, for how long, how much the unemployment rate will drop,” said Nathaniel Karp, BBVA chief U.S. economist. )For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. One way of seeing the impact of that rotation out of tech is to plot the Nasdaq’s relative altitude versus the S&P 500, a gap that after briefly exceeding its level from 2000 has recently narrowed. In a week when the tech-heavy gauge fell into a 10% correction, other indexes tracking everything from small-caps to banks, transports to industrials, climbed to records. In swaptions, a position has emerged targeting the Fed to hike seven to eight times by March 2025, according to a Barclays analysis.And while shorting Treasuries has been in vogue, “it’s possible the market may have gotten a little ahead of itself in the belly,” causing the 5-year rate to rise too much, said Jamie Anderson, head of U.S. trading for Insight Investment, which manages about $1 trillion.If the data come in weak or the Fed is on hold for longer than expected, “the belly should rally and the curve re-steepen,” he said.For Incapital’s Leary, the narrowing in the 5s30s gap came on the view that officials may discuss -- or even announce -- a twist next week. Bitcoin traded for a few cents for several years after its debut more than a decade ago.“Bitcoin’s resilience is proving to be the stuff of legend,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, a crypto lender. Q2 2020 Earnings Results: 05/21/2020 09:00 PDT: Misc: 2019 Annual General Meeting: 05/07/2020 17:00 EDT: Misc: Q1 2020 Earnings Call: ... Last Ex-Dividend Date: N/A; Description: Dropbox provides cloud-based file storage, sharing, and project collaboration services for individuals and, to a lesser extent, enterprise customers. Such an operation, involving the sale of shorter-dated holdings and purchase of longer maturities to control yields, would put more pressure on the belly, he says. “We will have more demand than we can possibly build.”Hindenburg said Lordstown has no truck ready to sell and that a former employee of the company said delays will put production at least three years away.“We are on track for betas this month and start of production in September,” Burns said in a text message.