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Facebook Ads Keep Driving Its Business , Says Author Steven Levy

Mar.06 -- Steven Levy, author of Facebook: The Inside Story, discusses the business of Facebook on "Bloomberg Technology."

  • 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.

  • 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.

  • Amarin Stock Melts Down After Losing Patent Battle For Heart Drug
    Business
    Investor's Business Daily

    Amarin Stock Melts Down After Losing Patent Battle For Heart Drug

    Amarin stock melted down Tuesday after a Nevada judge ruled generic drugmakers can knock off the biotech company's high triglycerides treatment, Vascepa. According to reports on Twitter, the judge ruled the claims Amarin tried to patent are obvious and, therefore, not patentable. The high triglycerides treatment is based on a type of fish oil.

  • 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.

  • 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."

  • 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.

  • How Much Are Mylan N.V. (NASDAQ:MYL) Insiders Spending On Buying Shares?
    Business
    Simply Wall St.

    How Much Are Mylan N.V. (NASDAQ:MYL) Insiders Spending On Buying Shares?

    We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So before you buy or sell Mylan N.V. (NASDAQ:MYL), you may well want to know whether insiders have been buying or selling.

  • 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.

  • Goldman Sachs: 3 “Strong Buy” Stocks to Snap Up Now
    Business
    TipRanks

    Goldman Sachs: 3 “Strong Buy” Stocks to Snap Up Now

    With that in mind, Goldman Sachs analysts have been coming the markets for buy-side options, and in a series of reports on tech-related stocks have highlighted three under-the-radar choices. Tenable has been growing rapidly over the past several years, is among the fastest-growing companies in our coverage universe, and remains a critical provider for continuous monitoring, which is an important compliance-related focal point.

  • 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.

  • Saudis Start to Unleash Oil Wave Despite U.S. Pressure
    Business
    Bloomberg

    Saudis Start to Unleash Oil Wave Despite U.S. Pressure

    The kingdom has loaded several of the supertankers it hired earlier this month to boost its ability to increase exports, according to ship-tracking data. In addition, Riyadh has used the last few weeks to shuttle large amounts of crude into storage in Egypt, a stepping stone to the European market. The movements suggest that Riyadh is ramping up its oil production toward its target of supplying a record 12.3 million barrels a day in April, up from about 9.7 million in February, despite American pressure to end the price war.

  • 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.

  • 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.

  • 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.

  • If stocks are headed higher, these underperformers are worth a look, says Jefferies
    Business
    MarketWatch

    If stocks are headed higher, these underperformers are worth a look, says Jefferies

    Our call of the day comes from Jefferies equity strategists Steven G. DeSanctis and Eric Lockenvitz, who highlight a “Battleground” of stock names that they like. The appeal is that those names aren't heavily owned by hedge funds, but rather long-only investors, who would expect those stocks to appreciate. The Battleground portfolio held up on the way down, but has lagged on the way up,” which means catch-up time for that group of more defensive names that focus on health care and technology.

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

  • 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.

  • 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.

  • 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?

  • Here are the best bets for investors seeking income, according to Goldman Sachs
    Business
    MarketWatch

    Here are the best bets for investors seeking income, according to Goldman Sachs

    The stimulus bill signed into law Friday keeps any companies that borrow from the government from paying dividends to shareholders for at least a year after the loan is repaid — even as bond yields have collapsed to to near all-time lows. The provisions of the CARE Act likely exacerbate a trend of companies trying to keep as much cash on hand as possible as the economic downturn worsens. The Goldman strategists estimate dividends for S&P 500 stocks will decline 25% to $44 per share in 2020, and note 12 companies, ranging from Apache Corp. (APA)  to Old Dominion Freight Line (ODFL), have already reduced or suspended their shareholder payouts.

  • Huawei warns China will strike back against new U.S. restrictions
    Business
    Reuters

    Huawei warns China will strike back against new U.S. restrictions

    Huawei warned on Tuesday that 2020 would be its most difficult year yet due to American trade restrictions which dealt a blow to its overseas sales in 2019, and predicted the Chinese government would retaliate against the United States. It said Beijing could hit back against U.S. measures to restrict chip sales to Huawei, by restricting sales of American products in China and by shifting to alternative suppliers in China and South Korea. "The Chinese government will not just stand by and watch Huawei be slaughtered on the chopping board," Chairman Eric Xu told reporters at the launch of Huawei's annual report.

  • 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.

  • 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.

  • 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.”