Month: July 2020

A “coverage gap” of an estimated 4.8 million people uninsured are in a rough position amid the pandemic. …read more […]

Last month, rumors began circulating that online international payment giant PayPal Holdings Inc. (NASDAQ:PYPL) had plans to enter the cryptocurrency industry, and will soon begin offering cryptocurrency buying and selling functionality. These rumors appear to have been confirmed by a recently published letter, which clearly describes PayPal’s intent to develop its capabilities in the cryptocurrency […] …read more […]

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Brown Advisory recently released its Q2 2020 Investor Letter, a copy of which you can download here. The Large-Cap Sustainable Growth Fund posted a return of 29.62% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned 27.84% in the same quarter. You should check out Brown Advisory’s top 5 stock picks […] …read more […]

Spirit warned last month it was at risk of breaching its financial covenants after its largest customer Boeing Co asked the aero parts maker to substantially reduce 737 production this year due to the coronavirus crisis. Wichita, Kansas-based Spirit, which makes fuselages for the 737 MAX, has shared a forecast with lenders that showed deliveries for 737 MAX in 2020 to be around 70, much lower than its previous forecast of a little more than 200, according to the report. Spirit expects 2021 deliveries of the narrow-body plane to come in at less than half of its …read more […]

Yahoo Finance’s Alexis Christoforous and Brian Sozzi break down today’s market action with Crossmark Global Investments Chief Market Strategist Victoria Fernandez. …read more […]

(Bloomberg) — Tesla Inc. shares extended their meteoric gains as even the most pessimistic analysts struggled to find faults in the electric carmaker’s quarterly earnings report.It was a “home-run quarter” for Elon Musk’s firm, according to Wedbush’s Dan Ives, as the company reinstated its original delivery target of 500,000 units in fiscal 2020 and reported its fourth consecutive profit. Cowen’s Jeffrey Osborne upgraded his rating to market perform, removing the underperform recommendation he has held since initiating coverage of the stock in 2016.The quarter was marked by a “step change” in China, where Shanghai accounted for a sharply higher proportion …read more […]

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(Bloomberg Opinion) — In the latest example of how the world of brick-and-mortar retail is being overwhelmed by the pandemic, specialty apparel conglomerate Ascena Retail Group Inc. – corporate parent of Ann Taylor, Lane Bryant and other chains – filed for Chapter 11 bankruptcy protection. The company said Thursday its restructuring plan will allow it to reduce its debt by $1 billion. It also will close an unspecified number of stores across all of its major banners, including shuttering all of its Catherines plus-size apparel locations.Ascena may not have the cultural primacy of some of the other prominent names in …read more […]

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There wouldn’t be many who think MarineMax, Inc.’s (NYSE:HZO) price-to-earnings (or “P/E”) ratio of 15.1x is worth a… …read more […]

Blackstone said distributable earnings, which includes cash it generates by selling assets, fell to $548 million from $709 million a year earlier. This translated into distributable earnings per share of 43 cents, matching analysts’ consensus estimate, according to data compiled by Refinitiv. Distributable earnings is a metric that Blackstone and other private equity firms focus on to describe their business. …read more […]

(Bloomberg) — The economic shock from the coronavirus caused companies, consumers and investors to hoard cash like almost never before.Many experts expect that urge to save to stick around for the long haul. And that should create strong demand for the safest fixed-income products, a force that could lend a hand to the Federal Reserve when it comes to suppressing yields as the government ramps up its supply of bonds to pay for economic stimulus measures.Deposits at U.S. commercial banks have surged by 18% this year to a record $15.6 trillion, according to Fed data. The flood of cash into …read more […]