![]() ![]() ![]() Excluding nonrecurring items, adjusted earnings per share of $3.19 beat the FactSet consensus of $3.01. Net income for the quarter to May 31 rsoe to $2.01 billion, or $3.15 a share, from $1.79 billion, or $2.79 a share, in the year-ago period. Shares of Accenture PLC ACN dropped 2.3% toward a fourth-straight loss after the management consultant reported fiscal third-quarter results that beat expectations but provided a somewhat downbeat revenue outlook. Root’s stock has more than doubled over the past three months through Wednesday (up 134.1%), while the S&P 500 SPX has gained 10.9%.Īccenture stock falls after earnings beat expectations but revenue outlook was a bit downbeat CVNA, which owns 8.5% of Root’s outstanding common stock, slipped 0.7% in Thursday’s premarket after rallying 2.8% on Wednesday. The bid implies a market capitalization of about $276.6 million, which compares with a market value of about $6.84 billion on the day Root went public on Oct. ![]() Citing people familiar with the matter, the WSJ report, which published just before Wednesday’s closing bell, said Embedded Insurance has bid to buy Root for $19.34 a share, which represents a 221.3% premium to Tuesday’s closing price of $6.02. ROOT rocketed 37.4% toward a 10-month high in premarket trading Thursday, a day after soaring 59.8%, in the wake of a report in The Wall Street Journal that a potential buyer has emerged for the car-insurance company. Indeed, he's cashed out about $30 billion of stock to help finance his Blue Origin rocket company and fund other personal and business interests, per Bloomberg.Ī broader rally of Big Tech stocks has lifted Amazon shares this year, as investors wagered that leading US tech companies would profit from the artificial-intelligence boom.Root’s stock rockets again after WSJ report of buyout bid at a more than 200% premium Bezos' roughly 990 million shares represent a nearly 10% stake in the company and account for most of his $147 billion net worth, as estimated by the Bloomberg Billionaires Index.īezos' recent purchase is notable because he's overwhelmingly been a seller of Amazon stock in the past 20 years. Amazon's stock price has climbed to $123.43 since then, meaning Bezos has made about $9 on the unusual investment.Īmazon stock has surged 47% this year, boosting the market capitalization of the e-commerce and cloud-services giant to $1.3 trillion. ![]() Subtract the shares he donated, and his stake stood at 990,476,371 shares, worth $122 billion as of Friday's close. For example, Musk initially offered to acquire Twitter for $42 billion last year before sealing the deal at $44 billion.īezos paid $114.77 for his Amazon share. The chief of Tesla and SpaceX has made plenty of playful references to the number "42" - a reference to Weed Day on April 20, and the answer to the "ultimate question of life, the universe, and everything" in "A Hitchhiker's Guide to the Galaxy" - and "69" in recent years. The bizarre single-share purchase and the numbers implied by the reporting time and the stock donation - 4:20 and 69 - have fueled speculation that Bezos may have been mimicking his rival Musk. He also disclosed a gift of more than 69,000 shares to a nonprofit in the same filing. He may have been channeling Elon Musk and trolling Wall Street.Īmazon's billionaire founder and executive chair reported the May 25 trade to the Securities and Exchange Commission at 4:20 p.m. Jeff Bezos unexpectedly bought a single Amazon share in late May, marking his first known purchase of the company's stock in more than two decades. ![]()
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