Month: June 2020

(Bloomberg) — GNC Holdings Inc. filed for bankruptcy protection with the aim of selling itself and closing stores after its latest effort to manage its debt load unraveled amid the coronavirus pandemic.The health and wellness company’s Chapter 11 petition filed in U.S. Bankruptcy Court in Delaware allows the retailer to keep operating while it pursues a dual-track process to restructure its balance sheet in a standalone plan or complete a sale, according to a statement.GNC entered into the process with support from a majority of its secured lenders and an affiliate of its largest shareholder, Harbin Pharmaceutical Group Holding Co., …read more […]

(Bloomberg) — Gold is on the cusp of challenging the hard-to-crack $1,800 an ounce mark, potentially opening the way for a move toward its record price, as a resurgence in coronavirus cases risks impeding the recovery of the global economy and fans demand for haven assets.Futures have rallied to within 1% of the level last seen at the end of 2011, the year bullion notched its all-time high, as newly diagnosed cases of Covid-19 and other indicators of the pandemic’s spread soared in hot spots across the U.S. This is driving city and state officials to consider slowing or reversing …read more […]

There’s no relief on the horizon yet for the beleaguered cruise line industry. On June 19, the Cruise Lines International Association (CLIA) announced all cruise operations will remain suspended until September 15.The announcement followed a disquieting quarterly report from struggling cruise line Carnival (CCL). In fiscal Q2, the world’s largest cruise operator lost $3.30 per share, more than double the Street’s $1.52 call. Revenue of $700 million also came in far below the $1.13 billion consensus estimate.For Deutsche Bank analyst Chris Woronka, the results are “of little consequence.” Cruise lines saw no action for virtually the whole quarter, and have …read more […]

Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors’ consensus returns have been exceptional. In the following paragraphs, we find out […] …read more […]

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Plant-based meat innovator Beyond Meat (BYND) has been one of Wall Street’s biggest standouts of 2020, with shares skyrocketing over 100%, thanks to strong retail figures.Beyond’s increasing presence on consumers’ shopping lists has caught the eye of Credit Suisse analyst Robert Moskow, who is singing a different tune after new data was published.“Contrary to our initial view, Beyond may emerge as a net beneficiary of the pandemic in the near-term due to strong demand in retail channel (48% of sales) and in the long-term due to rising consumer interest in healthier foods,” Moskow said.According to a Hunter consumer survey, since …read more […]

The U.S. housing market will be in focus again Wednesday when KB Home reports quarterly earnings and weekly mortgage applications data is released. …read more […]

Anyone following the market in 2020 will be aware of the massive gains made by biotechs fighting the coronavirus. For companies in search of a vaccine or treatment, valuations have soared dramatically, as investors have piled in on the hope one can bring a viable solution to market.Among those making headlines, vaccine specialist Novavax (NVAX) has earned its place as one of 2020’s star performers. Based on a 1,658% year-to-date increase, there’s no doubt regarding its success.Yet, Cantor analyst Charles Duncan argues there are more gains on the way. In fact, the 5-star analyst has just increased his price target …read more […]

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For full …read more […]

(Bloomberg) — T-Mobile US Inc. priced its shares at $103 apiece in a $20 billion-plus deal that will let co-owner SoftBank Group Corp. offload a stake in the wireless carrier, according to people familiar with situation.The mobile-phone company, controlled by Germany’s Deutsche Telekom AG, laid out plans for the stock sale on Monday, but hadn’t yet set a price for the shares. Nearly 200 million shares are changing hands as part of the complex transaction.SoftBank agreed to pay T-Mobile $300 million as part of the transaction and will cover all fees and expenses related to the deal. The company became …read more […]

The late, great, Neil Peart wrote, in Tom Sawyer, “He knows changes aren’t permanent, but change is.” His words are an apt description of our modern world, an ever-changing landscape of pending tech. Right now, the shiny new change is 5G.Even the coronavirus couldn’t fully derail the coming build-out of the new 5G networks. It only delayed it. China and Korea are leading the world right now in bringing 5G networks online, with the US expanding its own new systems and Europe lagging behind. In the US, most urban areas have at least partial 5G connectivity online, and the major …read more […]

(Bloomberg Opinion) — As Japan’s SoftBank Group Corp. unloads about 200 million shares of T-Mobile US Inc., more investors get a chance to own a top-performing stock that had been hogged by insiders. SoftBank’s fire sale isn’t a knock on T-Mobile, but rather a reluctant move by billionaire Masayoshi Son to shore up his own troubled conglomerate. Indeed, his loss will be someone else’s gain. Son took control of Sprint Corp. in 2013 and then spent years pursuing a merger between the beleaguered wireless carrier and its stronger rival, T-Mobile. He finally got his way thanks to the Trump administration’s …read more […]

There’s a major overlooked risk in the gold market, and the mainstream media isn’t talking about it …read more […]

(Bloomberg Opinion) — Dell Technologies Inc.’s magical merry-go-round of financial engineering is spinning once again.The corporate computing giant is examining options for its majority stake in software-company VMware Inc. that include a spinoff of the holdings, the Wall Street Journal reported late Tuesday. VMware shares soared roughly 10% on the news in after-market trading, valuing Dell’s 81% stake at around $55 billion. To understand why Dell would contemplate a transaction like this, you only have to look at Dell’s own market value, which despite a rise of its own on the news of the possible spinoff amounted to only about …read more […]