Year: 2020

Sweden’s Ericsson reported quarterly core earnings ahead of market estimates on Friday, buoyed by higher margins on the sale of telecom equipment, and said it was keeping its financial targets for 2020 and 2022. Despite the economic uncertainty over the coronavirus outbreak, many telecom companies globally have been moving ahead with plans to upgrade to 5G networks, pushing up Ericsson’s commercial contract wins to 99. Ericsson and Finland’s Nokia were also expected to be the beneficiaries of Britain’s decision this week to ban Chinese telecoms giant Huawei from next-generation 5G networks. …read more […]

In the wake of the Wirecard accounting scandal, exchange operator Deutsche Boerse said on Thursday it was proposing rules to enable it to quickly expel companies from the leading DAX index if those firms file for insolvency. The ruling, if adopted, could mean that Wirecard would leave the DAX index in August, rather than during a regular review of the index makeup in September. Wirecard was promoted to the DAX index of 30 leading companies in 2018, displacing Commerzbank, as the fortunes of a rising technology star underscored the declining fortunes of the nation’s top banks. …read more […]

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To minimize the number of forced cuts, large airlines have been offering a variety of early departure packages. United’s agreement with the Air Line Pilots Association International (ALPA) includes an early retirement deal for pilots 62 and older, as well as a slew of different options for pilots to voluntarily reduce their hours or take a leave of absence during which they would potentially receive health benefits as long as they keep up their training, covered by United. Bryan Quigley, United’s senior vice president of flight operations, sent the terms to pilots in a memo late Thursday which …read more […]

The former head of a key subsidiary of Wirecard, who was arrested earlier this month, has admitted wrongdoing to prosecutors for his role in a multi-billion-euros fraud, his lawyer said on Thursday. It is the first known confession of wrongdoing in the collapse of one of Germany’s biggest companies. The unidentified jailed executive was the chief executive officer of Dubai-based Cardsystems Middle East. …read more […]

The news comes as a fresh blow to California’s largest utility that emerged from bankruptcy earlier this month, marking an end to a long-drawn restructuring process that began after its equipment sparked some of the deadliest wildfires in the state. Responding to the finding, Pacific Gas and Electric Co said it did not have access to the investigative report or the evidence Cal Fire has collected at this time. …read more […]

Business Insider had earlier reported that the company cut under 1,000 jobs across its business this week. The company cut roles at its online news portal MSN.com, as it shifted to an AI-powered algorithmic feed, according to the report, which added that jobs were also cut in the Microsoft Azure cloud division. Late last month, Microsoft said it would close its retail stores and take a related pre-tax asset impairment charge of $450 million amid the ongoing coronavirus outbreak. …read more […]

(Bloomberg) — A top-performing Intel Corp. supplier in Singapore is set to continue its winning streak in the stock market as it benefits from emerging trends in the semiconductor industry.AEM Holdings Ltd. — a chip-testing equipment provider that counts the U.S. tech giant as its main customer — has surged 53% this year to become the top performer in the 107-member FTSE ST All-Share Index, the broadest measure for Singapore stocks. All four analysts covering the stock have an equivalent of a buy rating on it, and on average expect it to gain about 19% over the next 12 months, …read more […]

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Earnings season is almost in full swing — and a range of notable names are lined up to report results. One worth watching is none other than Amazon (AMZN), which will post its quarterly figures on Thursday, July 23. The stakes are high for the e-commerce giant, as its stock has been soaring over 60% so far this year. Can the company’s latest results live up to expectations? Cowen analyst John Blackledge expects Amazon to march on defiantly when it reports 2Q earnings on July 23.“We expect strong 2Q20 results with Revenue & Operating Income above high end of …read more […]

Business Insider had earlier reported that the company cut under 1,000 jobs across its business this week. The company cut roles at its online news portal MSN.com, as it shifted to an AI-powered algorithmic feed, according to the report, which added that jobs were also cut in the Microsoft Azure cloud division. Late last month, Microsoft said it would close its retail stores and take a related pre-tax asset impairment charge of $450 million amid the ongoing coronavirus outbreak. …read more […]

DraftKings (DKNG) has been one of Wall Street’s biggest standouts of 2020, with shares skyrocketing over 230%. The biggest question for investors, then, is whether those gains are likely to continue. Rosenblatt analyst Bernie McTernan came out with an answer.McTernan “continues to be bullish on DKNG,” after recent data pointed to positive trends in the online gaming space. The analyst believes “investors should use the recent pullback in shares, likely related to near-term uncertainty of sports returning, as a buying opportunity, especially for those with long-term time horizons.”iGaming momentum in New Jersey, the primary established sports betting market in the …read more […]

There’s one company that appears immune to the pandemic…
But I wouldn’t touch it with a 10-foot pole.
Let me explain…
The market capitalization of a publicly traded company is calculated using a simple formula: market cap equals number of shares outstanding multiplied by current share price.
This number tells us what the stock market believes the company is worth on any given day.
Tesla (Nasdaq: TSLA) began 2020 with a very large market cap.
On January 1, its share price was $420. With 185 million shares outstanding, that gave Tesla a market cap of $77 billion.
And $77 billion is big – really big.
But then, the …read more […]

The tech surge has appeared limp lately, with hints a possible trend reversal might be on the way. But Apple (AAPL) stock is having none of it – yet. Along with the share price reaching new milestones on an almost daily basis, the giant from Cupertino is rewarded with another boost from Wall Street’s analyst corps.Joining the fray, Merrill Lynch analyst Wamsi Mohan bumped up his price target for Apple from $390 to $410, implying modest potential upside of 6% from current levels. No change to Mohan’s rating, which remains a Buy. (To watch Mohan’s track record, click here)So, why …read more […]

(Bloomberg) — For fans of haywire market statistics, there’s this: The Nasdaq Composite has managed to go two months without posting back-to-back declines. That record streak was under threat after Netflix Inc.’s after-hours drop sent exchange-traded funds tracking the tech space lower.The index, weighted to megacaps like Amazon.com Inc. and Facebook Inc., lost 0.7% in Thursday’s regular session, as investors rotated out of tech in favor of laggards like airlines and energy. An ETF tied to its sister index, the Nasdaq 100, was down another 0.5% as of 7:12 p.m. in New York.The proximate culprit was Netflix, which said it …read more […]