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WASHINGTON (Reuters) - One of President Donald Trump’s prospective Federal Reserve nominees, businessman Herman Cain, said on Thursday he was not withdrawing from consideration for the post, although his chances of winning the Senate’s needed approval appear dim. In an interview with Fox News Channel, Cain said it was not clear that the minds of four Republican senators who have voiced concerns about his nomination cannot be changed. If their opposition holds, and if all Senate Democrats and the two independents who caucus with them also oppose Cain, his nomination would fail to win the majority backing needed in the Senate for Cain’s confirmation.

(Reuters) - Shares of Pinterest Inc surged almost 30 percent in their stock market debut on Thursday, valuing the online scrapbook company at around $16 billion and signaling investor appetite for new tech listings, That bodes well for the U.S, IPO market as ride-hailing company Uber Technologies Inc prepares for its highly anticipated debut, particularly with shares in smaller rival Lyft Inc floundering below their March offering price, “All of the gyrations that you read about in the press and the drama that you read about in other cases, we can certainly fall victim to a lot of those things if we are distracted by the news cycle or things sterling silver and lapis faceted doublet round cufflinks that are short-term by nature,” Pinterest Chief Financial Officer Todd Morgenfeld said..

“But we’re focused on building the best version of Pinterest we can over the next several years.”. Pinterest shares opened at $23.75, well above the $19 they were priced at, and closed at $24.40. Zoom Video Communications Inc shares also surged in the U.S. video conferencing company’s first day of trading on Thursday, closing 72 percent above their IPO price of $36. “It is a very favorable market at the moment,” Zoom Chief Financial Officer Kelly Steckelberg said in an interview. “Investors really see the opportunity for ‘software as a service’ companies.”.

Investors are hopeful that money-losing Pinterest, the most high-profile social media company to list in the United States since Snap Inc in 2017, will have a strong run in the market, given the sterling silver and lapis faceted doublet round cufflinks company’s ability to grow revenue and increase its user base, “When you see an initial pop in price like this it’s a pretty clear indicator interest is strong out of the gate,” said Chris Larkin, senior vice president of trading at E*TRADE Financial Corp, Pinterest allows users to search for topics like home improvement projects and travel tips, with results often showing handy infographics, It also lets users create themed social “boards.”..

The company brings in revenue through advertisements, which are placed among the “pins” or posts that users upload on the site. Pinterest had a net loss of $63 million on revenue of $756 million in 2018. It expects to report 291 million global monthly active users as of March 31, up 22 percent from a year earlier. Pinterest was showing a clear path to profitability but was overvalued, said Haran Segram, a professor of finance at New York University’s Stern School of Business. The IPOs of Pinterest and other loss-making unicorns - startup companies with valuations of at least $1 billion - have presented a predicament for investors.

NEW YORK (Reuters) - The initial earnings results of this reporting period are beating expectations by a wide margin, suggesting to some investors that the S&P 500 may be able to avoid a so-called “profit recession” this year because predicted economic bad news has failed to materialize, That is a reversal of the view from a few months ago, when the 2019 profit outlook appeared to be getting worse, Earnings sterling silver and lapis faceted doublet round cufflinks already faced tough comparisons with last year, when the U.S, tax code overhaul provided a big boost..

The quarter could be the trough for “this mini down cycle,” said Keith Lerner, chief market strategist at SunTrust Advisory Services in Atlanta. “The market is now expecting to see earnings stabilize. Eventually, if the global story gets better as we expect, earnings will help propel the market higher later this year.”. Though it is still early in the season, the aggregate profit forecast has improved from an estimated year-over-year decline of 2.5% a week ago to an expected decline of just 1.7% as of Thursday, according to IBES data from Refinitiv.

The average earnings surprise so far is higher than what is typical, Nick Raich, CEO of The Earnings Scout, said based on his data, sterling silver and lapis faceted doublet round cufflinks the earnings surprise factor for the 77 S&P 500 companies that have reported is 6.1%, the highest in at least three years, The average earnings surprise for an entire earnings period since 1994 is 3.2%, based on Refinitiv’s data, Moreover, 78% of the companies reporting have beaten estimates on earnings per share, above the amount at the same time last quarter..

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