Fastest Correction in History, Futures Bouncing, AstraZeneca Pauses COVID-19 Vaccine Trial, LVMH Scraps $16.2B Deal with Tiffany
Carl Quintanilla, Jim Cramer and David Faber discuss the slight swing up for stocks after a brutal few days for the market.\xa0The Nasdaq marking its fastest 10% plunge in history, while the six biggest tech stocks have lost more than $1 trillion over the last three days alone.\xa0Shares of Tiffany getting clobbered after LVMH scraps its deal with the company.\xa0David reports that Tiffany is suing LVMH for pulling out of the $16.2 billion dollar deal.\xa0The French minister of foreign affairs had directed LVMH to defer the deal until after January 6th, 2021, due to a U.S. threat off taxes on French goods.\xa0Cowen and Goldman Sachs both raising their price targets on Peloton to a Street-high of $110 per share.\xa0The firms note strong demand during the pandemic and Tuesday\u2019s announcement of new products and price cuts for Peloton\u2019s existing bike.