Year: 2020

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Today we will run through one way of estimating the intrinsic value of The Coca-Cola Company (NYSE:KO) by estimating… …read more […]

Walt Disney Co is planning to reopen its Orlando-based Walt Disney World theme park on July 11, ending the longest shutdown of the company’s highly profitable U.S. theme park division in its history. Instead, they point to the company’s already-high valuation as a result of the outsized success of its Disney Plus streaming platform as limiting any benefit from the resumption of its U.S. park operations. Disney did not respond to a request for comment. …read more […]

Surging tech stocks are hiding the opportunity in some beaten-down names, says Fundstrat’s Tom Lee. …read more […]

The latest analyst coverage could presage a bad day for The Valens Company Inc. (TSE:VLNS), with the analysts making… …read more […]

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 […]