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  • Coronavirus stock market rally triggers the dreaded 'death cross'
    Business
    Yahoo Finance

    Coronavirus stock market rally triggers the dreaded 'death cross'

    The last thing beat-up investors want to see right now is an often dreaded technical formation in the markets. Yet, that's where we are after the S&P 500 has rallied hard off the lows achieved a week ago. For the first time in over a year, the S&P 500 is seeing its 50-day moving average cross below its 200-day moving average (see Yahoo Finance chart below) points out SunDial Capital Research.

  • U.S. senators scrutinize meat packers' big profits during pandemic
    Business
    Reuters

    U.S. senators scrutinize meat packers' big profits during pandemic

    U.S. senators are calling for investigations of record profit margins for beef processors like Tyson Foods and Cargill, after ranchers complained surging meat prices due to coronavirus hoarding did not translate into higher cattle prices. Futures prices for cattle have tumbled during the outbreak, worrying farmers as the U.S. economy heads into a downturn and fueling questions about whether the market run by CME Group is an effective tool for risk management. Senator Charles Grassley of Iowa wrote on Twitter that U.S. Department of Agriculture, Department of Justice and Commodity Futures Trading Commission probes may be needed to determine why ranchers did not benefit from soaring meat demand.

  • Ready to buy back into this market? If so, forget about Apple and grab these stocks instead, strategist says
    Business
    MarketWatch

    Ready to buy back into this market? If so, forget about Apple and grab these stocks instead, strategist says

    The market is utterly underestimating how much of a shock the coronavirus is going to be to the economy. And I think for the next 12 months, the U.S. consumer is only going to spend his money or her money on [nondiscretionary] goods. So, within that basket, I think you have to let Apple go.

  • Is Inovio Pharmaceuticals, Inc.'s (NASDAQ:INO) CEO Pay Fair?
    Business
    Simply Wall St.

    Is Inovio Pharmaceuticals, Inc.'s (NASDAQ:INO) CEO Pay Fair?

    J. Kim became the CEO of Inovio Pharmaceuticals, Inc. (NASDAQ:INO) in 2009. This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. The aim of all this is to consider the appropriateness of CEO pay levels.

  • Demand Rises For Gilead's Coronavirus Drug — But Is GILD Stock A Buy?
    Business
    Investor's Business Daily

    Demand Rises For Gilead's Coronavirus Drug — But Is GILD Stock A Buy?

    Biotech company Gilead Sciences is trying to corral Covid-19 with an experimental coronavirus treatment — an effort that has stoked renewed hopes for GILD stock. The biotech company is advancing a former Ebola virus treatment, remdesivir, in clinical studies of patients with Covid-19, a new form of coronavirus discovered last year. Meanwhile, Gilead is also trying to stake its claim in HIV treatments.

  • Top Fund Manager Says These Stocks Should Soar In The Next Market Rally
    Business
    Investor's Business Daily

    Top Fund Manager Says These Stocks Should Soar In The Next Market Rally

    Chip Reed is a mutual fund manager who winces at the widespread pain and suffering caused by the coronavirus stock market crash. But he also sees the coronavirus crash as setting the table for the sort of rally mutual fund shareholders dream of. "The pain isn't lost on anybody," said Reed, a manager of $11.7 billion Eaton Vance Atlanta Capital SMID-Cap Fund (EISMX).

  • Barrack Says Real Estate Collapse Will Take Hold in April
    Business
    Bloomberg

    Barrack Says Real Estate Collapse Will Take Hold in April

    Real estate billionaire Tom Barrack, Colony Capital's chairman, founder and chief executive officer, talks about the state of the commercial mortgage market and if the Federal Reserve is doing enough to help it. He speaks to Erik Schatzker on "Bloomberg Markets."

  • The Consensus EPS Estimates For Delta Air Lines, Inc. (NYSE:DAL) Just Fell A Lot
    Business
    Simply Wall St.

    The Consensus EPS Estimates For Delta Air Lines, Inc. (NYSE:DAL) Just Fell A Lot

    Market forces rained on the parade of Delta Air Lines, Inc. (NYSE:DAL) shareholders today, when the analysts downgraded their forecasts for this year. There was a fairly draconian cut to their revenue estimates, perhaps an implicit admission that previous forecasts were much too optimistic. Following the latest downgrade, the current consensus, from the 16 analysts covering Delta Air Lines, is for revenues of US$36b in 2020, which would reflect a stressful 24% reduction in Delta Air Lines' sales over the past 12 months.

  • Paying $4.79 a Gallon, California Didn’t Get the Cheap Gas Memo
    Business
    Bloomberg

    Paying $4.79 a Gallon, California Didn’t Get the Cheap Gas Memo

    As crude oil prices have tanked, depressed by the coronavirus pandemic and the market-share war between Saudi Arabia and Russia, at least a dozen service stations in the Golden State were charging more than $4 as of Monday, according to the tracker GasBuddy. One unnamed location in Santa Clara, near the heart of Silicon Valley, was demanding the most that GasBuddy's research found in the state: $4.79. According to AAA, only Hawaii had higher average prices than California, at $3.36 versus $3.06.

  • Challenging Times Ahead for Boeing Stock; 5-Star Analyst Slashes Price Target
    Business
    SmarterAnalyst

    Challenging Times Ahead for Boeing Stock; 5-Star Analyst Slashes Price Target

    It has been a rollercoaster month for investors of beleaguered airline Boeing (BA). Despite the profit potential, the analyst can't quite see his way clear to actually recommending "buying" BA stock, assigning the shares only a "neutral" rating. Questions have been raised concerning Boeing's financial health, following a request for $60 billion in federal aid to assist its ailing ecosystem.

  • Profit Will Soon Double (Or More) At 11 Companies, Analysts Say
    Business
    Investor's Business Daily

    Profit Will Soon Double (Or More) At 11 Companies, Analysts Say

    Corporate profit is all but certain to drop in the first quarter as the coronavirus shuts America down. But analysts still think profit will double or more at some S&P 500 companies. Double profit?

  • Mall Owner Taubman To Tenants: Pay Your Rent
    Business
    Benzinga

    Mall Owner Taubman To Tenants: Pay Your Rent

    The real estate investment trust wrote in a March 25 memo obtained by CNBC that the rental income it receives from tenants is "essential" for it to meet its own financial obligations, like paying lenders on mortgages and utility expenses. The Taubman memo reportedly said "all tenants will be expected" to stay true to their original lease obligations, despite financial difficulties related to the coronavirus. So far, restaurant chain Cheesecake Factory Inc (NASDAQ: CAKE) is the most notable national mall tenant to confirm it won't pay rent in April, although the company said it is in various stages of discussions with its landlords.

  • Is Tesla Stock A Buy Right Now? Here's What Earnings, Charts Show
    Business
    Investor's Business Daily

    Is Tesla Stock A Buy Right Now? Here's What Earnings, Charts Show

    Tesla stock has plunged as the coronavirus pandemic has led to a sharp drop in consumer spending and rising unemployment as factories are shut down worldwide. Tesla announced on March 19 that it would also close its car manufacturing plant in California. The disruption to Tesla caused by the Covid-19 pandemic could be revealed later this week if the electric-car company reports data on first quarter vehicle deliveries as expected.

  • Man who called Dow 20,000 at end of 2015 says these are the 4 steps needed for a bona fide stock-market recovery
    Business
    MarketWatch

    Man who called Dow 20,000 at end of 2015 says these are the 4 steps needed for a bona fide stock-market recovery

    That's Jeremy Siegel, a professor of finance at the University of Pennsylvania's Wharton School of Business, expressing some optimism Monday about the outlook for a stock market that may be starting to reassert a bullish stance after a punishing month. During a phone interview on CNBC, the professor said he thinks the stock market may have put in its bottom last week. On Monday, the Dow Jones Industrial Average (DJIA) booked a more than 690-point gain, rising by 3.2% to end the session at 22,327, while the S&P 500 index (SPX) rose 3.4% to 2,626.

  • Audacious Chinese coffee chain Luckin, not content with its quixotic battle against Starbucks, dreams of becoming Amazon, too
    Business
    MarketWatch

    Audacious Chinese coffee chain Luckin, not content with its quixotic battle against Starbucks, dreams of becoming Amazon, too

    The Chinese startup that has reshaped the coffee sector here, wiping away Starbucks' dominance in the country, is leaping into an untraditional foray — one that is sure to perpetuate questions about its long-term strategy. Nasdaq-listed Luckin Coffee (LK) came out of nowhere in 2017 and swiftly ate into Starbucks' (SBUX) domination of China sales, with its intuitive mobile app, ubiquitous grab-and-go stores, and discounts so deep that they have frustrated some investors. One conspicuous example of Luckin's cutthroat strategy was the building of hundreds of its stores within mere meters of existing Starbucks locations, often right next door.

  • California Gov. Gavin Newsom Says Federal Government Sent '170 Broken Ventilators'
    U.S.
    Meredith Videos

    California Gov. Gavin Newsom Says Federal Government Sent '170 Broken Ventilators'

    California Gov. Gavin Newsom said Saturday that the federal government had sent the state “170 broken ventilators,” which can be key to treating the respiratory distress caused by COVID-19.

  • JPMorgan: These 3 Stocks Are Poised to Surge by at Least 35%
    Business
    TipRanks

    JPMorgan: These 3 Stocks Are Poised to Surge by at Least 35%

    JPMorgan's Global Quantitative and Derivatives Strategy team, led by Marko Kolanovic, has been crunching the numbers on the coronavirus pandemic, and found that the forecasts can vary wildly, with predicted economic declines ranging from 20% to 70%, depending on which data the analyst chooses to start with. The JPMorgan report does offer a ray of hope: because the hospital numbers are a lagging indicator, it is possible that the social containment measures have taken hold and brought us closer to the inflection point – and that infection rates will soon start declining. Kolanovic writes, “Taking into account the unprecedented monetary and fiscal measures being implemented, as well as unprecedented asset declines over the past month, we maintain that asset price recovery is likely and our pre-pandemic equity price target for 2020 is achievable sometime in the first half of 2021.”

  • Nightmare Haunting Euro Founders May Be a Reality With Italy
    World
    Bloomberg

    Nightmare Haunting Euro Founders May Be a Reality With Italy

    The longstanding suspicion that Italy's profligate borrowing could ultimately become the whole of Europe's problem was the recurring nightmare of German finance officials throughout the 1990s. Now, as the crisis forces Giuseppe Conte's government to jettison a decade of tightly capped Italian budget deficits, the country's strategy for the future is once again built on piling up debt, sending its public borrowings swelling toward or even beyond 150% of gross domestic product. The upshot is that Italy's finances now depend wholly on the European Central Bank keeping a lid on its borrowing costs.

  • Carnival Cruise Lines Seeks to Borrow $3 Billion
    Business
    Bloomberg

    Carnival Cruise Lines Seeks to Borrow $3 Billion

    Carnival said it also plans to raise $1.25 billion by issuing common shares and another $1.75 billion through the sale of convertible notes to improve its liquidity position. President Donald Trump asked Carnival and other major cruise line operators to stop sailing this month after a series of coronavirus outbreaks at sea raised concerns about the safety of the industry. While Carnival is still rated investment grade by Moody's Investors Service and S&P Global Ratings, its existing unsecured bonds have been trading at distressed levels in recent weeks.

  • Business
    Barrons.com

    Halliburton Soars, Amarin Slumps as Chinese Data Show Signs of Life

    U.S. stock futures, however, are flat-ish. Dow Jones Industrial Average futures are unchanged, while. S&P 500 futures have dipped 0.1%.

  • Business
    Bloomberg

    Trump and Putin Are All Talk on Oil Price Plunge

    According to the Kremlin, energy officials from the U.S. and Russia, the world's first and third-largest oil producers, will hold discussions — although they didn't elaborate on what they might cover. Trump has become the master of the empty photo-op, most notably with North Korea's Kim Jong Un. In the energy sector, points of contention between the two men include Russia's role in Venezuela's oil export trade; U.S. sanctions on Russia's oil and gas industries, including those targeting the second Nord Stream gas pipeline from Russia to Germany and others that have prevented foreign investment in Arctic oil and gas projects; and Russia's own nascent shale sector.

  • Business
    Bloomberg

    Larry Fink Sees Economy Recovering From Virus But Forever Transformed

    The pandemic that swept through nations across the globe this year is causing people to re-evaluate “just-in-time” supply chains and dependence on air travel, Fink wrote in his annual letter to shareholders dated Sunday. “In my 44 years in finance, I have never experienced anything like this,” Fink wrote, adding that “as dramatic as this has been, I do believe that the economy will recover steadily, in part because this situation lacks some of the obstacles to recovery of a typical financial crisis.” The spreading coronavirus has infected more than 780,000 people and prompted cities across the world to lock down, threatening deep recessions that will push households and companies to the brink.

  • 7 Safe Dividend Plays For 2020
    Business
    Benzinga

    7 Safe Dividend Plays For 2020

    Unable to cough up cash to meet dividend payments at a time when businesses are reeling to keep operations going, several companies have announced suspension of dividends or pauses of stock buybacks. To compare the returns of a stock, a metric called dividend yield is used. Dividend yield is the amount of dividend paid by a company for a year, divided by its current stock price and expressed in percentage terms.

  • Analysts Just Slashed Their ConocoPhillips (NYSE:COP) Earnings Forecasts
    Business
    Simply Wall St.

    Analysts Just Slashed Their ConocoPhillips (NYSE:COP) Earnings Forecasts

    Market forces rained on the parade of ConocoPhillips (NYSE:COP) shareholders today, when the analysts downgraded their forecasts for this year. Both revenue and earnings per share (EPS) estimates were cut sharply as analysts factored in the latest outlook for the business, concluding that they were too optimistic previously. Following the latest downgrade, the current consensus, from the 17 analysts covering ConocoPhillips, is for revenues of US$23b in 2020, which would reflect a disturbing 32% reduction in ConocoPhillips' sales over the past 12 months.

  • Amazon Fires Worker Who Led Strike Over Virus
    Business
    Bloomberg

    Amazon Fires Worker Who Led Strike Over Virus

    “Taking action cost me my job,” Smalls said Monday in a Bloomberg TV interview. A group of workers at the Staten Island fulfillment center walked off the job Monday to demand Amazon close the facility for extended cleaning, the latest in a wave of virus-related protests. In a statement Monday night, New York State Attorney General Letitia James called Smalls' firing “immoral and inhumane.”