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Moody’s Lowers 3M’s Outlook to Negative From Stable Amid Rising Leverage Risk

March 25, 2020 admin Comments Off on Moody’s Lowers 3M’s Outlook to Negative From Stable Amid Rising Leverage Risk

Rating agency Moody’s Investors Service changed 3M Company’s (MMM) outlook to negative from stable due to expectations of higher leverage needs and weaker earnings for this year.Moody’s reaffirmed 3M’s A1 senior unsecured debt rating. The rating agency expects the company’s revenue and margins to decline “meaningfully” in 2020 as a result of a protracted period of falling demand exacerbated by the coronavirus crisis.3M has a Moderate Buy analyst consensus rating, based on 3 Buys, 3 Holds, and 1 Sell. The average price target of $165.80 suggests potential room for a 26% gain in the next 12 months. (See 3M’s stock …read more […]

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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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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 […]

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Goldman Sachs: 3 Tech Stocks That Could Climb Over 20%

March 25, 2020 admin Comments Off on Goldman Sachs: 3 Tech Stocks That Could Climb Over 20%

Investment firm Goldman Sachs has revised its 2020 economic forecast, and the outlook is decidedly grim. Where just 10 days ago, Goldman was predicting that GDP would experience a 5% contraction in Q2, the update puts the forecast at a 24% second-quarter contraction. That’s a depression-style number, and Goldman does not sugar-coat it.What the bank does do, however, is to try and extend its reading into 2H20, and looking forward the chances may not be as bad. The economy was strong as 2019 ended, and even in January and February the jobs numbers remained highly positive – and Goldman sees …read more […]