Trading Ideas
What is the stock market pricing in?: Morning Brief
Top news and what to watch in the markets on Wednesday, May 6, 2020. …read more […]
Month: May 2020
Trading Ideas
RBC Capital: Here’s What To Expect For PayPal Earnings Today
PayPal (PYPL) is scheduled to announce Q1 earnings results today after market close. Going into the print the Street is looking for EPS of $0.75 (-3.8% Y/Y) and revenue of $4.72B (+14.3% Y/Y).However, RBC Capital analyst Daniel Perlin believes these estimates may prove too optimistic. “Based on our prior work and what we learned intra-quarter, we believe there is downside risk to both our and the Street’s revenue and EPS estimates given the evolving impacts from COVID-19” he writes.The analyst has a buy rating on the stock with a $120 price target- indicating that shares could pullback by just over …read more […]
Business News
E-cigarette maker Juul Labs to exit South Korea after year of health controversies
U.S. e-cigarette maker Juul Labs said on Wednesday it would end operations in South Korea, a year after it entered the market there but failed to gain traction amid government health warnings.
Business News
Britain’s mid-sized banks coping with coronavirus, but warn of pain ahead
A slew of Britain’s mid-sized banks on Wednesday reported steady deposits and demand in the face of the COVID-19 pandemic, but warned it was too early to assess the long-term damage of the outbreak to their businesses.
Business News
Turkish Airlines plans to resume limited flights in June: draft
Turkish Airlines plans a gradual resumption of flights from June and will take four months to return to near full operation, a draft plan seen by Reuters showed, as the economy reopens following a slowdown in coronavirus cases.
Business News
BMW cuts outlook, sees coronavirus pain lasting all year
BMW AG expects the coronavirus pandemic to hit demand and earnings throughout this year, prompting the German automaker to cut its profitability forecast for passenger cars following a drop in first-quarter deliveries.
Business News
Hapag-Lloyd seeks savings to offset coronavirus losses: CEO
German container line Hapag-Lloyd is to implement cost cuts to take account of the coronavirus crisis, its chief executive Rolf Habben Jansen said on Wednesday.
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Business News
Allianz aims to maintain dividend amid coronavirus outbreak, CEO says
The chief executive of German insurance giant Allianz said on Wednesday that 2020 will not be another record earnings year but that the company aims to maintain its dividend as it deals with the wrath of the coronavirus outbreak.
Business News
World shares subdued amid mixed earnings; oil falters
Global shares struggled on Wednesday as mixed earnings, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets.
Business News
Samsung heir Lee apologises over succession, won’t hand control to children
Samsung Group heir Jay Y. Lee, embroiled in a bribery scandal, on Wednesday made a rare apology over controversial succession plans and said he will not hand over management rights to his children at the family-controlled conglomerate.
Business News
UK watchdog deems Shell’s ‘drive carbon neutral’ ad campaign acceptable
A Royal Dutch Shell advertising campaign promising customers they can “drive carbon neutral” has been deemed acceptable under Britain’s advertising rules following an investigation, regulators said on Wednesday.
Business News
VW sees multi-speed coronavirus rebound led by China
Volkswagen said demand in China was rebounding, thanks to customers who want to switch from public transport to personal vehicles, but warned sales would not recover as quickly in other parts of the world.
Business News
BMW to delay Hungary plant in coronavirus savings drive
BMW will put investments on hold as it seeks to conserve cash to counter a fall in demand caused by the spread of the coronavirus pandemic, Chief Financial Officer Nicolas Peter said on Wednesday.
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Walt Disney Profit Plunges 63% Hit By Virus Impact, Cuts Cash Dividend
Walt Disney (DIS) reported worse-than-estimated profit in its fiscal second quarter and slashed its semi-annual dividend in an effort to save $1.6 billion in cash as the coronavirus pandemic disrupts most of its operations.Adjusted earnings per share dropped 63% to 60 cents in the three months ended March 28, from the year earlier period, while missing the 89 cents expected by analysts. Net income from continuing operations plunged 91% to $475 million during the same comparative period.The entertainment and media giant declared that it is suspending its semi-annual cash dividend for the first half of fiscal 2020, due to the …read more […]