Month: October 2020

(Bloomberg) — Jack Ma, the former English teacher who co-founded Alibaba Group Holding Ltd. with $60,000, is poised to become the world’s 11th richest person after Ant Group Co. priced shares for a record initial public offering.Ma’s 8.8% stake is worth $27.4 billion based on the stock pricing in Hong Kong and Shanghai. That will take the 56-year-old’s fortune to $71.6 billion on the Bloomberg Billionaires Index, exceeding that of Oracle Corp.’s Larry Ellison, L’Oreal SA heiress Francoise Bettencourt Meyers and individual members of the Waltons, whose family own Walmart Inc.Ant’s mammoth listing is poised to boost the fortunes of …read more […]

(Bloomberg) — The Trump administration lost a bid to enforce its prohibitions against the Chinese-owned “super app” WeChat in the U.S. after appealing a judge’s ruling that the ban probably violates the free-speech rights of its users.Upholding a trial judge, the U.S. Court of Appeals in San Francisco on Monday rejected the administration’s request for a stay of the preliminary injunction that prevents the administration from enforcing a wide range of measures, including barring the app from Apple and Google’s app stores for U.S. downloads, over purported national security concerns. Shares of WeChat owner Tencent Holdings Ltd. jumped as much …read more […]

(Bloomberg) — The Trump administration lost a bid to enforce its prohibitions against the Chinese-owned “super app” WeChat in the U.S. after appealing a judge’s ruling that the ban probably violates the free-speech rights of its users.Upholding a trial judge, the U.S. Court of Appeals in San Francisco on Monday rejected the administration’s request for a stay of the preliminary injunction that prevents the administration from enforcing a wide range of measures, including barring the app from Apple and Google’s app stores for U.S. downloads, over purported national security concerns. Shares of WeChat owner Tencent Holdings Ltd. jumped as much …read more […]

Walmart CEO Doug McMillon joins Yahoo Finance’s All Markets Summit to discuss his outlook for retail in 2020 and beyond. …read more […]

Delta Air Lines CEO Ed Bastian joins Yahoo Finance’s All Markets Summit with his take on the health of the airline industry and the future of travel. …read more […]

The new Supreme Court justice could help kill the health care law. What if you rely on it? …read more […]

Since peaking at an all-time high of $122.32 in mid-August, shares of Overstock (OSTK) have retreated by more than 40%. However, it is worth remembering that even after the significant pullback, shares are up by an incredible 908% year-to-date, as the online retailer has made the most of the rise of e-commerce during the pandemic.Heading into this week’s earnings (Thursday, October 29), Needham analyst Rick Patel believes the signs point to another robust display in Q3.Patel expects a “continuation of strong sales growth,” and further said, “While we believe the market already anticipates a q/q deceleration vs an exceptional 2Q, …read more […]

Gilead Sciences (GILD) notched a first last week, when its antiviral coronavirus treatment Veklury (remdesivir) received full FDA approval.The treatment had previously been granted emergency use authorization (EUA), but the complete go ahead from the regulatory body makes it the first treatment to make it across the finish line.However, ultimately, Raymond James analyst Steven Seedhouse does not expect the long-awaited approval to have the impact investors might hope for.“The formal FDA approval doesn’t change our estimates or outlook for remdesivir, given it has already been branded standard-of-care prior to formal approval,“ Seedhouse said. “But the label and approval is pretty …read more […]

Mark McMeans’ Brasada Capital Management is a Houston-based long/short equity hedge fund founded in 2008. The fund takes a conservative approach to its investments, including using hedging and risk management strategies to achieve its desired risk-adjusted returns. The fund’s assets under management more than doubled between early-2017 and early-2018, and topped $542 million in the […] …read more […]

The properties included in the potential sale are Sands Expo Convention Center, the Venetian Resort Las Vegas and the Palazzo, the source added, asking not to be identified. Bloomberg reported earlier that Las Vegas Sands is working with an adviser to solicit interest from potential suitors. Chairman and chief executive of the group, Sheldon Adelson, said in the second quarter that a “recovery process from the COVID-19 pandemic in each of our markets is now under way.” …read more […]

Last week, Karim wrote about the three investing themes that’ll work during an extended Trump presidency: guns, gold and energy.
And as you know, his three picks were the following:

Smith & Wesson Brands (Nasdaq: SWBI)
Kirkland Lake Gold (NYSE: KL)
Energy Select Sector SPDR Fund (NYSE: XLE).

Those are three strong picks.
But today, I’d like to also chime in – and give you the very best pick to immediately buy if Trump pulls off another crazy upset.
You see, in my opinion, the VERY BEST name to buy in this situation is the SPDR S&P Aerospace & Defense ETF (NYSE: XAR).
Here’s why…
It mirrors the returns …read more […]

This week, I got a call from an old friend I hadn’t talked to in years.
The small talk didn’t last long. He pretty much went right for it.
“So what stocks should I buy?”
Now, I love talking about the market. But when a friend or relative asks me what stocks they should buy, I have a physical reaction. I feel my body pulling away from them. My gaze goes off to the side. I immediately want to put as much distance as possible between me and them.
I can’t tell any individual what stocks they should buy. It depends on their time …read more […]

(Bloomberg) — Tensions flared in bankruptcy court Monday over J.C. Penney Co.’s proposed sale to its lenders and landlords, with one lawyer alleging a dissenting creditor group is waging “economic terrorism” in search of a payout.Those creditors, led by Aurelius Capital Management, hold J.C. Penney term loans and other debt. They’ve submitted a competing proposal to buy the retailer’s real estate while still allowing mall owners Simon Property Group Inc. and Brookfield Property Partners take over the company’s operations. But the proposal isn’t feasible and is instead an attempt by those lenders to “extract a premium,” Andrew Leblanc of Milbank …read more […]

Stock futures opened flat to slightly higher Monday evening after a selloff on Wall Street pushed the Dow and S&P 500 to their biggest one-day drops in more than a month. …read more […]

(Bloomberg) — Sheldon Adelson’s Las Vegas Sands Corp. is exploring the sale of its flagship casinos in Las Vegas, according to people familiar with the matter, a move that would mark the mogul’s departure from the gambling mecca.The casino operator is working with an adviser to solicit interest from potential suitors, and may fetch $6 billion or more for its Vegas properties, said the people, who asked to not be identified because the talks are private.The portfolio includes the Sands Expo Convention Center, the Venetian Resort Las Vegas and the Palazzo.A representative for the company confirmed it was in very …read more […]