Year: 2020

At the height of the coronavirus pandemic last spring, the heads of U.S. banks including Morgan Stanley , Bank of America Corp and others pledged not to cut any jobs in 2020 because it was the wrong thing to do. Compared with April projections, bank economists and executives expect the U.S. economy to take longer to recover, with high unemployment into 2021 and interest rates staying near zero for the foreseeable future. “No question, layoffs (will) come across the board for all the banks,” said Barry Schwartz, chief investment officer at Toronto-based Baskin Wealth Management, which invests …read more […]

Some investors rely on dividends for growing their wealth, and if you’re one of those dividend sleuths, you might be… …read more […]

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Shares of Apple Inc and Tesla Inc will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need. Investors cheered the Apple and Tesla announcements, helping extend a rally in the companies’ shares, which along with many other technology firms, have soared in value as the market emerged from its pandemic-induced depths in March. Apple closed at over $500 a share on Thursday, while Tesla continued its meteoric rise on Thursday to …read more […]

It looks like The Home Depot, Inc. (NYSE:HD) is about to go ex-dividend in the next four days. This means that… …read more […]

Shares of Apple Inc and Tesla Inc will be less costly on Monday as pre-announced stock splits take effect, in theory making them more accessible to retail investors, but as more brokers offer fractional shares, some in the market question the need. Investors cheered the Apple and Tesla announcements, helping extend a rally in the companies’ shares, which along with many other technology firms, have soared in value as the market emerged from its pandemic-induced depths in March. Apple closed at over $500 a share on Thursday, while Tesla continued its meteoric rise on Thursday to …read more […]

Top news and what to watch in the markets on Friday, August 28, 2020. …read more […]

Bayer in June struck an agreement on about 75% of the 125,000 claims stemming from its $63 billion takeover of seed and chemical company Monsanto in 2018. U.S. District Judge Vince Chhabria threatened to restart the litigation and let it move forward after questioning if Bayer was going back on the settlement, according to a Bloomberg News report. “There are often some bumps in the road in implementing a resolution of this magnitude, but we remain confident that a comprehensive settlement will be finalized and executed,” Bayer said in a statement. …read more […]

(Bloomberg) — Gold climbed, recovering from Thursday’s drop, as the dollar weakened and investors weighed the impact of the Federal Reserve’s new approach to setting U.S. monetary policy.Comments from Fed Chair Jerome Powell sent bullion on a roller-coaster ride on Thursday after he announced a more relaxed approach on inflation, with the central bank seeking inflation that averages 2% over time. He also noted that the Fed wouldn’t hesitate to act if consumer prices rose considerably above its goals.Higher inflation tolerance and low interest rates should see U.S. real yields fall in the medium-to-longer term, which is supportive for gold, …read more […]

(Bloomberg) — Bayer AG’s comprehensive settlement of U.S. lawsuits over its Roundup weed killer is in jeopardy after lawyers for some consumers accused the company of reneging on the $11 billion deal and the judge overseeing the litigation questioned its truthfulness.U.S. District Judge Vince Chhabria said during a hearing Thursday he’s concerned Bayer has “manipulated” the settlement process since announcing its plan in June to resolve 125,000 cases alleging that the herbicide causes cancer. He said he will revisit in a month whether to keep the litigation on hold for settlement talks to continue or to let more trials proceed.“My …read more […]

(Bloomberg) — Everything now appears to be going right for Xiaomi Corp., the Chinese smartphone maker whose stock failed to gain traction following its 2018 initial public offering.Shares have surged a record 59% this month, hitting all-time highs as larger rival Huawei Technologies Co. deals with U.S. restrictions intended to crimp adoption of the company’s 5G wireless technology. This week’s second-quarter report showed Xiaomi’s phones are making inroads in China, helping profit more than double. And an electric vehicle maker that Xiaomi invested in soared 41% in its U.S. debut on Thursday.About 20 brokerages have raised their stock-price targets on …read more […]

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U.S. technology giants are increasingly dominating the stock market in the midst of the coronavirus pandemic, even as they draw accusations of unfair business practices, and some investors fear the pump is primed for a tech-fueled sell-off. The combined value of the S&P 500’s five biggest companies – Apple Inc , Amazon.com Inc , Microsoft Corp , Facebook Inc and Google parent Alphabet Inc – now stands at more than $7 trillion, accounting for almost 25% of the index’s market capitalization. …read more […]

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Tesla Inc (NASDAQ: TSLA) CEO Elon Musk confirmed late Thursday that the automaker was the subject of a hacking attempt by a Russian national and his co-conspirators. What Happened: “This was a serious attack,” the billionaire entrepreneur said in response to a media report related to the attempted hacking on Twitter.A complaint was filed this week by prosecutors in Nevada against Egor Igorevich Kriuchkov, a Russian national, who allegedly conspired to recruit an employee at an unnamed company, in order to surreptitiously install malware on its computers.Musk’s tweet confirms the company detailed in the lawsuit is, in fact, Tesla.Kriuchkov approached …read more […]