Month: July 2020

Readers hoping to buy Oracle Corporation (NYSE:ORCL) for its dividend will need to make their move shortly, as the… …read more […]

Top news and what to watch in the markets on Friday, July 10, 2020. …read more […]

Walgreens Boots Alliance Inc. (WBA) reported a $1.71 billion quarterly loss and announced 4,000 jobs cuts due to the impact of the coronavirus pandemic sending shares down 8%.The stock dropped to $39.01 at the close on Thursday after the drugstore chain operator announced that it will also suspend its share repurchase program and will need to take a non-cash impairment charge of $2 billion mainly as result of the COVID-19 impact on its Boots UK business. As part of a restructuring plan to cut costs, Walgreens said it will close 48 of its Boots opticians stores and lay off 4,000 …read more […]

(Bloomberg) — SoftBank Group Corp. founder Masayoshi Son has enjoyed a $12 billion renaissance the past three months, easing the pressure on his intricately engineered personal finances.With SoftBank Group’s shares surging to their highest price in two decades on Thursday, Son’s net worth hit $20 billion, more than doubling from $8.4 billion in March, according to the Bloomberg Billionaires Index. It is the first time the 62-year-old’s fortune has topped $20 billion since January 2013, when the ranking first started tracking his wealth.The calculation excludes about $13.3 billion of his SoftBank Group shares pledged as collateral, representing some 40% of …read more […]

Moderna Inc. (MRNA) has entered into an agreement with Spain’s Laboratorios Farmacéuticos Rovi, S.A. for large-scale manufacturing and supply of its mRNA-based experimental COVID-19 vaccine candidate outside of the U.S.Following the news shares rose 5.5% to $64.97 at the close on Thursday. As part of the agreement, Rovi will procure a new product line to provide vial filling and packaging, equipment for compounding, automatic visual inspection and labeling for the production of hundreds of millions of doses of the vaccine candidate to supply markets outside of the U.S. starting in early 2021, the two companies said in a statement.Rovi will …read more […]

(Bloomberg) — Stocks fell on Friday as a buying frenzy in China cooled and concern resurfaced that a rising number of coronavirus cases will hurt the global economic recovery. Treasuries and the dollar rose.The Stoxx Europe 600 Index slipped at the open, with oil and gas companies and miners leading declines. Shares in China slumped as selling by state-backed funds signaled authorities wanted to slow the pace of gains following the Shanghai Composite’s eight-day winning run. Hong Kong fell more than 2%, with the government set to close schools after a spike in new infections.Contracts on the S&P 500 Index …read more […]

(Bloomberg Opinion) — Plans for a change of leadership at two of Britain’s major banks could hardly be better timed. The economic shock of the pandemic, plus the uncertainty around Brexit, will probably demand a strategic reset at both Lloyds Banking Group Plc and Barclays Plc.Lloyds, the U.K.’s biggest mortgage lender, this week said Chief Executive Officer Antonio Horta-Osorio will step down in 2021 once a successor is found. While Barclays says no search is underway, the lender could seek a replacement for CEO Jes Staley as soon as next year and recently reached out to potential candidates, Bloomberg News …read more […]

(Bloomberg) — Taiwan Semiconductor Manufacturing Co. posted monthly revenue that suggested June-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the pandemic and U.S. curbs on No. 2 customer Huawei Technologies Co.Apple Inc.’s main iPhone chipmaker reported sales of NT$120.88 billion ($4.1 billion) for June on Friday. That likely means TSMC’s revenue grew about 29% to NT$310.7 billion last quarter, based on previously reported figures, beating the NT$308.8 billion analysts expect on average.TSMC, a barometer for the industry thanks to its heft in the global supply chain, had previously lowered its 2020 revenue outlook …read more […]

Tesla Inc appears on the verge of joining the S&P 500, a major accomplishment for Chief Executive Officer Elon Musk that would unleash a flood of new demand for the electric car maker’s shares, which have already surged 500% over the past year. With a market capitalization of about $250 billion, Tesla would be among the most valuable companies ever added to the S&P 500, larger than 95% of the index’s existing components. While analysts and investors have recently become more confident of Tesla’s addition, an S&P Dow Jones spokeswoman declined to comment about specific changes to the …read more […]

(Bloomberg) — Chinese megacap shares fell Friday after two state-backed funds said they planned to trim holdings in a sign that the government wants to slow down the rally.People’s Insurance Company (Group) of China Ltd., which had become a poster child of the ramp-up in equities with a 28% surge this month, sank as much as 7.8% in Shanghai. The SSE 50 Index of the city’s largest stocks was 1.6% lower at the mid-day break. The gauge had closed Thursday within 2 percentage points of its intraday peak in 2015.China’s National Council for Social Security Fund — the country’s national …read more […]

Amazon, which is aggressively expanding into self-driving technology, announced June 26 it had agreed to acquire the Silicon Valley company, which was founded on an ambitious effort to design a fully autonomous vehicle from scratch rather than retrofitting existing cars for self-driving. Amazon will pay $1.3 billion in cash for the takeover, which the parties hope to close by September, according to deal documents seen by Reuters. Zoox had been valued at $3.2 billion in 2018, according to data from PitchBook. …read more […]

Once again, Baird analyst Colin Sebastian is singing Amazon’s (AMZN) praises.Extra emphasis on the again here. The coronavirus has wreaked havoc on all aspects of daily life but what it has also inadvertently done, is provide Amazon with a monster surge in demand that shows no signs of slowing down. With the $1 trillion market cap milestone in the rear-view mirror, the Street has been playing catch up all year with Amazon.Amazon’s continued rise comes down to the simple fact that it is exponentially growing in all directions. This point is not lost on Sebastian, who thinks Wall Street is …read more […]

How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […] …read more […]

The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of March 31st, a week after the market trough. Now, we are […] …read more […]

Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds’ and successful investors’ positions as of the end of the first quarter. You can find articles about an individual hedge fund’s trades on numerous financial […] …read more […]