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Facebook Looks Compelling at Current Levels, Says Top analyst

March 25, 2020 admin Comments Off on Facebook Looks Compelling at Current Levels, Says Top analyst

The coronavirus hasn’t spared the mega-caps, and social media giant Facebook is a case in point. Among its FAANG peers, year-to-date, Facebook (FB) has suffered the most, shedding 24% of its value. Should the sharp pullback raise concern among investors? Not at all, says SunTrust Robinson’s Youssef Squali. Despite the new macro environment’s impact on future estimates and a recent price target reduction, the 5-star analyst maintains that FB remains in good health. As a result, Squali reiterated his Buy rating, although as mentioned, the price target gets a haircut – down from $265 to $230. From current levels, the …read more […]

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Amazon, Walmart Struggle to Cope as India Enters Lockdown

March 25, 2020 admin Comments Off on Amazon, Walmart Struggle to Cope as India Enters Lockdown

(Bloomberg) — India’s largest online retailers including Amazon.com Inc., Walmart Inc.-owned Flipkart and Alibaba-backed fresh grocery delivery service BigBasket are facing severe disruptions and shutdowns, after authorities announced some of the strictest coronavirus-related restrictions in the world.The country’s 1.3 billion people are in a three-week lockdown, sending many to scour the web for food and daily essentials. But unlike in China, where online fresh grocery services offered a lifeline during its Covid-19 outbreak, Indian authorities are stopping food trucks on highways, and shutting down warehouses and rice mills. They’re also preventing delivery and supply-chain workers from doing their jobs, sometimes …read more […]

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Business News

Senate bill set to give aviation sector up to $33 billion bailout: sources

March 25, 2020 admin Comments Off on Senate bill set to give aviation sector up to $33 billion bailout: sources

A compromise $2 trillion economic rescue package that will be voted on by the U.S. Senate on Wednesday is set to give passenger airlines about $25 billion in grants, and up to another $8 billion for cargo carriers and airport contractors, three people briefed on the negotiations said.

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Business News

Bullard: $2 trillion package working through Congress ‘scaled about right’ for crisis

March 25, 2020 admin Comments Off on Bullard: $2 trillion package working through Congress ‘scaled about right’ for crisis

The roughly $2 trillion emergency aid package being negotiated in Congress is “scaled about right” to match the hit to the economy needed to battle the coronavirus, St. Louis Federal Reserve president James Bullard said on Wednesday in a CNBC interview.

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Pullbacks have been so extreme, if you have a longer-term outlook it makes sense to upgrade some stocks’: TD Ameritrade Strategist

March 25, 2020 admin Comments Off on Pullbacks have been so extreme, if you have a longer-term outlook it makes sense to upgrade some stocks’: TD Ameritrade Strategist

Shawn Cruz, TD Ameritrade Trader Strategy Manager, joins Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Jared Blikre to discuss how the markets are being impacted by the coronavirus outbreak. …read more […]

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China suspends Bristol-Myers' cancer drug over findings at U.S. plant

March 25, 2020 admin Comments Off on China suspends Bristol-Myers' cancer drug over findings at U.S. plant

The suspension by China National Medical Products Administration is based on inspection findings at Bristol-Myers’ contract manufacturing facility in the United States, partner Beigene Ltd said. Beigene and Bristol-Myers were working to restore supply as soon as possible, said the China-based drugmaker, which signed an agreement with Bristol-Myers’ Celgene unit in 2017 to market and distribute Abraxane. …read more […]