Month: July 2020

We can readily understand why investors are attracted to unprofitable companies. Indeed, CEL-SCI (NYSEMKT:CVM) stock… …read more […]

Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Emily McCormick break down the earnings results for Bank of America and Johnson & Johnson. …read more […]

The bank wrapped up second-quarter results for the big U.S. lenders that shook out along expected lines – trading powerhouses Morgan Stanley and Goldman Sachs performed better than Main Street rivals JPMorgan Chase, Bank of America and Citigroup, which had to build massive reserves for loans that may go bust. Most Wall Street executives, however, have warned that the trading boom will not last for long. Morgan Stanley Chief Executive Officer James Gorman cautioned that the bank’s record-setting numbers would be hard to repeat in the coming quarters. …read more […]

Since March, the company has won U.S. authorization for five coronavirus tests, including one that can deliver results within minutes and is used at the White House, shielding it from a slide in demand for its medical devices and helping it beat second-quarter profit estimate. Abbott must be feeling very good about some of the diagnostics tailwinds to sustain into second half of the year to put a floor on earnings per share given the uncertainty around a second wave of infections and Medtech procedure volume trends, said Evercore ISI analyst Vijay Kumar. Peer Quest Diagnostics Inc said …read more […]

Domino’s is one of the few restaurant chains to see a boost in sales as consumers sought the comfort of pizzas and relied on their fast delivery. The world’s largest pizza company said consumers’ ordering behavior during the pandemic led to the sharp rise in numbers. Domino’s also introduced a new contactless carside delivery option for carryout orders, which allow diners to choose where they would like their order placed – the passenger side, back seat or the trunk of their car. …read more […]

A deluge of earnings and data painted a mixed picture of the fledgling U.S. recovery, as new COVID-19 cases threaten the economy. …read more […]

New jobless claims declined by a smaller than expected margin in the Labor Department’s new report Thursday, as a surge in US virus cases threatens the pace of the labor market’s recovery. …read more […]

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(Bloomberg) — The U.S. is moving toward sanctions against energy companies involved in Russian pipelines to Europe and Turkey, escalating a threat to punish allies for pursuing projects that the U.S. argues will only benefit Russia.As Europe’s domestic gas supplies decline, the region is becoming more dependent on imported fuel. The almost 10 billion-euro ($11 billion) Nord Stream 2 project from Russia to Germany is being financed by companies including Royal Dutch Shell Plc, Germany’s Uniper SE and Wintershall AG and France’s Engie SA. Allseas Group SA is helping to expand the Turk Stream link.“Get out now or risk the …read more […]

The good days for the stock market won’t last, says David Rubenstein, a billionaire investor and co-founder of private equity giant Carlyle Group, who cautioned against bullish near-term market expectations citing a disconnect between rising equity prices and a sluggish economy. …read more […]

(Bloomberg) — Bank of America Corp.’s profit slid 52% as it joined rivals in preparing for an onslaught of consumer defaults spurred by the pandemic’s economic fallout.Profit at the consumer-banking unit plunged 98% as the coronavirus shuttered much of the U.S. economy and caused tens of millions of Americans to lose their jobs. The company allocated $5.1 billion for loan losses in the second quarter, the most since 2010, as Bank of America joined its biggest rivals in predicting pain to come that contrasts with stock market optimism for a quick economic rebound.Calling it “the most tumultuous period since the …read more […]

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Tesla Inc.’s (TSLA) vehicle registrations in California almost halved in the second quarter of the year, Reuters reported, citing data from Cross-Sell, a marketing research firm that collates title and registration data.Shares were trading down 5.4% at $1,463 in Thursday’s pre-market trading. The data showed registrations in California, a bellwether market for the electric-car maker, plunged almost 48% from a year earlier to 9,774 vehicles in the three months ended June 2020.During the reported period between April and June, most parts of the U.S. were under government-imposed stay-at-home orders to slow the spread of the coronavirus outbreak, which impacted production …read more […]

David Rubenstein, the co-founder of the Carlyle Group and host of “Leadership Live,” discusses the current scope of the U.S. stock market and employment. …read more […]

While not a mind-blowing move, it is good to see that the Truist Financial Corporation (NYSE:TFC) share price has… …read more […]