Trading Ideas

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Randall Stephenson, AT&T’s current CEO, said Friday he will retire, but will serve as executive chairman of the board until January 2021. The announcement was made during AT&T’s virtual annual meeting. Stankey oversaw WarnerMedia after AT&T’s $85 billion purchase of media company Time Warner. …read more […]

The U.S. Federal Reserve announced Friday that banks can now allow account holders to make an unlimited number of withdrawals and transfers from their savings accounts. The Fed said the move would help ensure people can access their funds “at a time when financial events associated with the coronavirus pandemic have made such access more urgent.” The Fed said it removed the limit because a recent policy shift had rendered it unnecessary. …read more […]

So, what’s going on in the stock markets? Are they completely haywire? Since February 19, when the bull market ended, the Dow Jones has fallen 36.6% and then gained back, in uneven steps, some 26.4% from the trough. Movements have been similar in the S&P 500 and the NASDAQ. For the last two weeks, both the S&P and Dow have been holding fairly steady – the S&P near 2,800 and the Dow near 23,500.Yet, there are more questions raised than answers. Are we in a true rally, or will the slide resume? What will happen when people return to work; …read more […]

Verizon CEO Hans Vestberg breaks down the company’s first quarter earnings report. …read more […]

(Bloomberg Opinion) — Investors in Avis Budget Group Inc. and Hertz Global Holdings Inc. are learning the hard way what happens when widespread government bailouts don’t quite reach every corner of the U.S. economy.No matter where you look, whether it’s their stock, bonds or the asset-backed securities linked to their fleets, these rental-car companies are clearly feeling the squeeze from the coronavirus pandemic and the economic standstill. Avis shares have tumbled 76% since Feb. 20, to about $12 from $50, while Hertz is down more than 80% to about $4. Those are steeper declines than even shares of the three …read more […]

Norway’s parliament voted through a new company restructuring law on Friday that could help save Norwegian Air and many other companies from potential bankruptcy as a result of the restrictions to stem the spread of COVID-19. The legislation replaces current regulation on debt negotiations and relaxes rules for converting debt into equity. The airline is seeking to convert debt to equity to qualify for state guarantees in a bid to survive the coronavirus crisis, which has grounded all but a handful of its nearly 160 aircraft. …read more […]

On April 16, the $349 billion first round of the government’s Paycheck Protection Program (PPP) for small business coronavirus relief loans ran out of money after just 13 days. …read more […]

Rumors of a Rackspace IPO are rapidly spreading. Investors are now asking if the rumors are true. Will Rackspace stock be back on the market?
If Rackspace goes public, it wouldn’t be the first time. But times are different, and the coronavirus is a big factor for any IPO. So, will Rackspace go public? Here’s what we know…
Rackspace IPO: The Business

Dirk Elmendorf, Richard Yoo and Pat Condon founded Rackspace in 1998. Rackspace is an American technology company based in Windcrest, Texas. But the company also has offices in Australia, Switzerland, Germany and Singapore, just to name a few. It’s a cloud …read more […]

Analysts expected Verizon to gain just 100 subscribers in the quarter ended March 31, according to research firm FactSet. The company also cut its full-year adjusted earnings per share outlook to between a growth of 2% and a fall of 2%. In the first quarter, Verizon’s earned $1.26 per share, above analysts’ average estimate of $1.22, according to IBES data from Refinitiv. …read more […]

Investors already braced for poor first-quarter earnings from major oil and gas companies next week will focus on how executives plan to save cash and whether they will cut dividends following the collapse in oil prices. The five biggest U.S. and European firms, known as the Oil Majors, have announced spending cuts averaging 23% in a rapid response to the precipitous fall in oil demand because of the coronavirus pandemic and a 65% slump in crude prices. With the rout likely to extend for months, the pressure on balance sheets remains extreme as very few parts of oil …read more […]

Top news and what to watch in the markets on Friday, April 24, 2020. …read more […]

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(Bloomberg) — Franklin Templeton will wind up $4.1 billion of Indian debt funds after a liquidity crisis compelled the firm to freeze investor withdrawals, underscoring persistent stress in credit markets as the coronavirus pandemic wreaks havoc on the global economy.The asset manager’s surprise announcement late Thursday marked the biggest-ever forced closure of Indian funds and fueled worries of a renewed wave of withdrawals from similar products. Indian corporate bonds slumped on the news, while banks and fund managers paced declines in the country’s stock market.“There is fear in the minds of investors that other mutual funds may not be immune …read more […]

(Bloomberg) — A boon to Sanofi’s profit and sales from the coronavirus outbreak will be short-lived as the pandemic hinders the drugmaker’s efforts to get some medicines to patients.The sales burst of the first quarter, when patients stocked up on diabetes and rare-disease medicines ahead of lockdowns, is waning, the Paris-based company said Friday. The pharma giant attributed about half of its 16% profit gain to Covid-19.Sanofi’s report also hinted at a worrisome trend that doctors have warned about: new patients not getting treatment for their ailments in the era of Covid-19.There was a decline in new patients with multiple …read more […]