A year after coronavirus, many companies are now rethinking their work from home strategy. A CNN survey reported that work-from-home setups might not be the most ideal system for them. According to a KPMG survey of 500 CEOs, only 30% said they would allow the partial continuation of remote work.
News For The Day: The $3 Per Gallon Gasoline Is Becoming The New Normal
5 Stocks to Watch Out For Wednesday, March 24
Inphi Corporation ▲(IPHI After hours 173.00 USD +11.37 (7.03%)) stocks rose after hours during Tuesday’s trading after data infrastructure semiconductor maker Marvell Technology announced that China’s State Administration for Market Regulation approved the company's previously announced proposed acquisition of Inphi Corporation. With the clearance, Marvell’s acquisition is expected to complete by April 2021. However, Inphi stockholders will still need to vote for approval.
Intel Corporation ▲(ITC After hours 67.69 USD +4.21 (6.63%)) rose more than 6% after the bell yesterday after enduring a 3.28% dropoff during trading hours. Intel announced its opening its wallet to build two major chip plants in Arizona costing $20 billion. Intel will also start accepting job orders from companies that need a toll manufacturer.
WEC Energy Group Inc ▲(WEC 92.37 USD +3.64 (4.10%)) shares rose more than 4% Tuesday on a very rough trading day. WEC outperformed some of its competitors Tuesday, including Duke Energy Corp (+0.97%), Xcel Energy Inc. (+2.65%), and DTE Energy Co. (+0.88%). Stocks fell on Tuesday, especially the economically sensitive ones bearing the brunt. Data suggests profit taking is underway with cyclical stocks.
Peloton Interactive Inc ▲(PTON 113.35 USD +3.81 (3.48%)) stocks rose more than 3% in yesterday’s trading as the company continues its buying spree. Previously, the fitness company acquired rival Precor to shore up its manufacturing and distribution. Then, Peloton bought Peerfit, a digital health company, as well as Silicon Valley design firm Gossamer Engineering. Now, the company got three more additions to its growing base: voice assistant developer Aquido, fitness smartwatch maker Atlas Wearables, and workout mats expert Otari.
Zoom Video Communications Inc ▲(ZM 339.76 USD +11.26 (3.43%)) stocks got a little reprieve from the great stock sell-off yesterday, gaining 3.43 at Tuesday’s close. Zoom is shifting its strategy to allow businesses to embed its video conference features into their apps and websites through white label arrangements. Once active, this presents Zoom with a potentially new revenue stream.
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