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02/20/2020 10:58 AM
ViacomCBS’s Parts Might Add Up to a Greater Whole

ViacomCBS’s Parts Might Add Up to a Greater Whole(Bloomberg Opinion) -- “House of Brands” probably wasn’t the best choice of words by ViacomCBS Inc. in describing its streaming-TV strategy. It’s best for a company in its position to avoid what sounds eerily similar to another phrase — one that implies a shaky structure doomed to collapse. It’s also best not to remind people of the name of a hit series created by Netflix Inc., the very symbol of the end of times for cable networks like those owned by ViacomCBS. But the company may be on to something. Its house — er, collection — of TV and film brands were slapped together, just like its name, through the December merger of Viacom and CBS. Together, they have the potential to constitute an attractive streaming-TV offering for consumers different from existing ones. That means there’s at least hope for ViacomCBS, and that’s truly all investors and employees could reasonably expect right now. On Thursday, ViacomCBS posted unflattering results for its first quarter as a unified company, and its shares plunged 18%. It’s a reflection of the difficulty of stitching together two businesses with much different cultures — a challenge for any chief executive officer, but one that’s exacerbated in this case by the historical tensions between the two sides and the industry streaming wars that have threatened to make both of them irrelevant. Analysts predicted at least $7 billion of revenue for the period ended Dec. 31, but ViacomCBS took in only $6.87 billion amid a drop in traditional TV viewers, lower political advertising spending and a weak box-office showing. The merger closed on Dec. 5.But there were slivers of good news. Among them was the company’s announcement that it’s creating a new subscription-video service that will expand on the $6-a-month CBS All Access app ($10 for the commercial-free version) by stuffing it with more content from other parts of the empire. The company referred to it as a “House of Brands” product, the idea being that it can bring together its various entertainment, news, sports and film properties to reach a wider audience. The company’s biggest assets are CBS, MTV, Nickelodeon, BET, Comedy Central, Paramount Pictures and Showtime. It also owns Pluto TV, the advertising-supported service for consumers who want to stream for free, while Showtime targets the higher-end of the market with an $11-a-month online subscription.The strategy sounds a bit like the approach Comcast Corp.’s NBCUniversal is taking with its Peacock product, which is set to launch in April. Peacock will have a diverse library — everything from “Parks and Recreation” to “Jurassic Park” plus new shows — that most people will be able to access for free, with the option of paying $10 a month to cut out the ads. In contrast, Disney+, the fast-growing streaming service from Walt Disney Co., has more narrow appeal as it’s predominantly geared toward children and Marvel and “Star Wars” superfans; it has also shunned advertisers (for now). Peacock mimics the breadth of Netflix, whereas Disney+ looks more like a niche add-on option for Netflixers. A tremendous challenge for all the media giants, but especially ViacomCBS, is deciding where to put their content. ViacomCBS needs to continue to nourish its cable networks, the biggest moneymakers, while choosing which titles to save for CBS All Access to drive subscriber growth and which to sell to rival streaming services that are willing to pay for them. For example, the Paramount division previously produced the popular — and controversial — series “13 Reasons Why” for Netflix, a show that could have also appealed to MTV’s audience and potentially would have been a good fit for the expansion of CBS All Access. In that sense, it’s as if the different units within ViacomCBS are competing with one another. For once, though, Viacom and CBS are working under one clear leader, which is probably the biggest positive development following years of infighting and drama at both entities, both controlled by the Redstone family. Bob Bakish, Viacom’s well-liked, hard-nosed CEO of the last three years, is now in charge of the merged company, while Joe Ianniello, who had been Leslie Moonves’s No. 2 at CBS, is leaving next month. Moonves was ousted in September 2018 after a slew of sexual-harassment allegations came to light, ultimately paving the way for the merger of CBS and Viacom. Ianniello, though instrumental in getting the deal done — if only for the outrageous pay package used to placate him — was a symbol of the old regime and a possible wrench in Bakish’s salvage plan.Bakish has a lot of work to do, and fast. But his idea isn’t a bad one.  To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/20/2020 01:33 PM
Stock market dives — a 20% plunge in some hot stocks could be next

Stock market dives — a 20% plunge in some hot stocks could be nextThe market is long overdue for a major correction, say veteran strategists.

02/20/2020 02:19 PM
Bloomberg's odds to win Democratic nod plummet after rocky debate

Bloomberg's odds to win Democratic nod plummet after rocky debateA rocky debate performance sent the billionaire’s chances to win the nomination plummeting. 

02/20/2020 04:24 AM
SmileDirectClub Defends Its Top Doctor, Calls State Board Allegations 'Unfounded and Untrue'

02/20/2020 12:16 PM
Dow drops over 300 points on Fed comments, coronavirus worries

Dow drops over 300 points on Fed comments, coronavirus worriesThe selling pushed the S&P 500 and Nasdaq Composite off record highs.

02/20/2020 10:13 AM
Analysts: 2 Big 8% Dividend Stocks to Buy (And 1 to Sell)

Analysts: 2 Big 8% Dividend Stocks to Buy (And 1 to Sell)Not all dividend stocks are created equal. The average dividend yield among S&P companies is only 2%, not much higher than a Treasury bond. Years of low-interest policy from the Fed has worked to push return rates down across the board, and dividend yields – on average – have simply lagged slightly.Of course, that’s an average. You can still find high returns out there, and dividend stocks are a logical place to look. After all, while Fed rates may establish a cap for bond interest, dividends are only limited by the paying company’s overall profits. The sky’s the limit.We’re taking a look at that boundless upper limit today, using the TipRanks Stock Screener tool to pull up three stocks with 8% or better dividend yields. And back to our initial point, to show how high dividends are not the only factor to consider, Wall Street’s analysts only rate two of these as Buys. Let’s dive in.Plains GP Holdings (PAGP)Our first stock is a holding company, whose subsidiaries operate in the oil industry. The company’s operational arms are involved in the crude oil midstream sector, including transport, storage, terminalling, and marketing, as well as the liquid petroleum gas (LPG) and natural gas storage segments. PAGP has a $3 billion market cap, a high upside potential, and a surprising low point of entry.The stock is down 26% over the past 12 months, as the oil industry has faced a continuing low-price regime. While oil is a necessary commodity, that today’s economy cannot do without, a combination of high production and slack demand has put downward pressure on prices. WTI, the main US benchmark price, is down 6.6% in the past 12 months, and trading has been volatile in the oil markets.Despite the headwinds in the oil markets, PAGP beat the revenue estimates in its Q4 earnings report, while missing on earnings. EPS was reported at 26 cents, down steeply year-over-year and only half what was expected. In better news, the company reported $9.15 billion to top-line revenue, 9.3% better than the $8.37 billion forecast.With net-positive earnings and rising revenues, PAGP was able to maintain its 36-cent per share quarterly dividend, even while the payout ratio bumped up to a dangerous 136%. The company has been making reliable dividend payments since 2014, and has raised the payment modestly in the past two years. At $1.44 annualized, the yield is a generous 8.54%.Barclays analyst Christine Cho sees PAGP growing going forward, resting as it does on a sound foundation. She writes, in her recent report on the stock, “Fundamentals remain on solid footing for the industry, with midstream companies largely posting record profits, production set to grow in 2020, and crude prices generally stabilizing… we think global supply/demand for oil is more balanced, supported by the combination of increased capital discipline on the part of U.S. shale producers, OPEC production cuts, and subsiding recession fears...”Cho puts a $24 price target on PAGP, suggesting an upside of 42% behind her Buy rating. (To watch Cho’s track record, click here)Overall, Plains GP has a Strong Buy from the analyst consensus, with 4 recent reviews that include 3 Buys and 1 Hold. Shares are priced affordably, at $16.83, and the $21.33 average price target implies room for a robust 26% upside. (See Plains GP’s stock analysis at TipRanks)Ares Capital Corporation (ARCC)Moving on, we enter the investment management sector. Ares Capital is an asset manager with a focus on providing full-service financial solutions for middle-market companies. It has been traded publicly since 2014 and the stock has paid a reliable dividend ever since. ARCC has a market cap over $8 billion, and brings in over $1.5 billion in annual revenue.In Q4, Ares met earnings expectation, with EPS reported on target at 45 cents. Quarterly investment income was up 12% year-over-year, to $386 million, but missed the forecast. Total investment income for 2019 was reported at $1.53 billion, in line with estimates and up 14.3% from 2018. While the earnings and revenue were generally seen as good, the company reported 28.7% higher expenses in Q4, a development that pushed stock prices down 1.4% since the release.The quarterly figures were good enough to maintain ARCC’s dividend, which pays out 40 cents per share quarterly. The $1.60 annualized figure gives a yield of 8.42%, far above the broader market average. At 89%, the payout ratio indicates that Ares returns most of its profits to shareholders – but that it can afford to do so. ARCC has been slowing raising the dividend payment over the last few years.Lana Chan, 4-star analyst from BMO Capital, likes what she sees in ARCC. Citing especially the company’s ability to meet challenges, she writes, “ARCC currently has ~$3 billion in undrawn credit commitments and remains at the low end of its targeted leverage range, giving management ample dry powder to take advantage of any future market opportunities.”Chan gives this stock a Buy rating, and backs it with a $21 price target. Her target indicates an 11% growth potential in coming months. (To watch Chan’s track record, click here)Also bullish is Jefferies 5-star analyst John Hecht. He wrote of the stock’s overall condition, “Revenues of $386M were consistent with our forecast, as robust portfolio growth and higher dividend income offset ongoing yield compression. The portfolio grew 16% YoY, ahead of our forecast, as ARCC ramped leverage to 0.93x. Credit remains stable and below peer averages while NOI is comfortably ahead of ARCC's consistent distribution…”In line with his upbeat outlook, Hecht set a $20.50 price target, with an 8.5% upside potential, to support his Buy rating on ARCC. (To watch Hecht’s track record, click here)With 8 recent Buy ratings, ARCC’s analyst consensus view is a unanimous Strong Buy. This is another affordable stock, priced at just $18.89. The average price target of $20 suggests a modest upside potential of 5.88% for the stock. (See Ares Capital stock analysis at TipRanks)Hersha Hospitality (HT)The last stock on our list is the sell-side call. Hersha Hospitality is a real estate investment trust (REIT), a company specializing in buying, owning, operating, and leasing various residential and commercial properties. In compliance with tax law, these companies must return the bulk of their profits to shareholders, making them frequent visitors to “great dividend stock” lists. But not always.Hersha owns 48 hotels, with a total of 7,644 rooms, on both coasts of the US. The company’s West Coast properties are located in California and Washington, while the more numerous East Coast properties are located in Massachusetts, New York, Pennsylvania, Washington DC, and South Florida. New York and California have the most Hersha properties, with 10 and 7 respectively.High costs in urban areas have put a damper on company profits, and the company reported 53 cents per share in funds from operations (FFO). This was 8.6% below the forecast, and a 23% drop from the prior year’s Q3. Total revenue, at $135 million, was closer to the forecast (missing by less than 1%), and up 5.5% year-over-year. In the last four quarters, HT has only beating the forecasts once – and the stock is down 18% in the past 12 months.While earnings were mixed, Hersha kept up its dividend payments. The company pays out 28 cents per share quarterly, or $1.12 annualized, and shows a yield of 8%. Hersha has paid out the dividend reliably since 2011, an enviable record. The payout ratio is low for an REIT, at just 53%.Wall Street’s analysts are not impressed with HT shares right now. Writing from Barclays, Anthony Powell notes “Hersha’s 3Q19 results missed our estimates, guidance and consensus as conditions in several of the company’s urban markets were more challenging than the company originally forecast. While Hersha continued to outperform in several of its markets, the overall softer environment in 3Q and October drives a 6% reduction in EBITDA guidance for the year. Looking forward… high supply growth in New York and relatively high leverage will remain concerns for investors”Powell’s $14 price target on HT shares indicates a slight downside from current prices, in line with his Sell rating. (To watch Powell’s track record, click here)4-star analyst Ari Klein, of BMO Capital, is also downbeat on this stock. He writes, “HT reported a weaker 3Q19 and lowered 2019 guidance, including adjusted EBITDA guidance by 5% at the midpoint and adjusted FFOps by 8%... EBITDA growth is not materializing as expected by HT…”Klein rates the stock a Sell, and his $12.50 price target implies a downside of 11.4%. (To watch Klein’s track record, click here)Hersha Hospitality gets a Moderate Sell rating from the analyst consensus, with 2 Hold and 1 Sell rating given in recent weeks. Shares are priced at $14.11, and the $14.33 average price target suggests a minimal upside of 1.56%. (See Hersha stock analysis at TipRanks)

02/20/2020 10:53 AM
Vanguard vs. Fidelity: Which Brokerage is Best?

Vanguard vs. Fidelity: Which Brokerage is Best?If you’re looking for a platform for investing, you may consider two of the largest brokerage firms, Vanguard and Fidelity. Each offers plenty of low-cost funds, brokerage and retirement savings accounts, third party financial products and mobile app offerings. To … Continue reading ->The post Vanguard vs. Fidelity: Which Brokerage is Best? appeared first on SmartAsset Blog.

02/19/2020 11:28 AM
When Do People Retire on Average

When Do People Retire on AverageDetermining when to retire can be tough. There are various factors to consider, including your financial situation, your health, and the lifestyle you wish to enjoy once you retire. While the decision of when to retire is personal to you, … Continue reading ->The post When Do People Retire on Average appeared first on SmartAsset Blog.

02/20/2020 05:22 PM
Tesla Gets Go-Ahead to Resume Clearing Forest in Germany

Tesla Gets Go-Ahead to Resume Clearing Forest in Germany(Bloomberg) -- Tesla Inc. has overcome a legal roadblock standing in the way of Elon Musk’s plan to build an electric-car factory in Germany.A Berlin-Brandenburg court on Thursday ruled that Tesla can resume cutting down trees at a forest site in the small town of Gruenheide to make way for its first assembly plant in Europe. That puts the U.S. carmaker on track to start construction before the start of a crucial breeding period for local wildlife in March.The court found that local authorities didn’t violate laws when they allowed work on the factory to start, throwing out a complaint by Gruene Liga Brandenburg, an environmental group that claimed Tesla and local authorities were sidestepping regulations to rush the project.The decision is a boon to Tesla’s ambitious timetable to have the plant up and running by the middle of next year. The company plans to eventually produce as many as 500,000 cars a year at the site, employing 12,000 people and posing a serious challenge to Volkswagen AG, Daimler AG and BMW AG.Musk, Tesla’s chief executive officer, recently tried to ease local concerns about water usage at the plant, which would border a nature reserve.Local officials had warned that construction could be delayed by six to nine months if the forest isn’t cleared by mid-March. Tesla has already cut down two-thirds of the trees and should be able to fell the remainder in time.Brandenburg’s environment ministry this month gave Tesla a preliminary green light to start cutting down trees in an area equivalent to 100 soccer fields ahead of granting final approval. The court stopped the process with an injunction on Feb. 15. By late Thursday, the appeals court ruled that legal requirements to allow early construction were met.Gruene Liga has warned that Tesla’s plant could threaten the region’s water supply and overburden local transport infrastructure. The group argued that authorities shouldn’t have allowed the forest to start being cleared until after March 5, the deadline set for environmental groups to comment on the project.Local officials argue the site is an inferior pine forest planted to be harvested in the first place. The planned factory is of “great significance” to climate change prevention and one of the most important industrial investments in eastern Germany “in a long time,” Economy Minister Peter Altmaier told German publisher Funke Mediengruppe this week.The factory will be designed with “sustainability and the environment in mind,” Musk said last month on Twitter, adding Tesla will plant three new trees for every one cut. The company still needs final approval for the project from authorities in the state of Brandenburg.Tesla will also have to scare off or relocate wolves, bats, snakes, ants and lizards until construction is over. Under German regulations, the project must consider the breeding period for local wildlife in spring.(Updates with details of court ruling in seventh paragraph)To contact the reporters on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net;Stefan Nicola in Berlin at snicola2@bloomberg.netTo contact the editors responsible for this story: Anthony Aarons at aaarons@bloomberg.net, Craig Trudell, Chester DawsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/20/2020 12:59 PM
Roger Stone sentenced to more than 3 years in prison

Roger Stone sentenced to more than 3 years in prisonRoger Stone has just been sentenced to 3 years and 4 months in prison for witness tampering in an effort to protect President Trump. Yahoo Finance’s Adam Shapiro breaks down the details on On The Move.

02/20/2020 02:48 PM
Tim Seymour Compares Aurora Cannabis And Canopy Growth, Sees Path To Profitability

02/20/2020 12:09 PM
News On the Move: 9 killed in Germany shootings, Trump ally Roger Stone to be sentenced

News On the Move: 9 killed in Germany shootings, Trump ally Roger Stone to be sentencedYahoo Finance’s Adam Shapiro breaks down the latest stories that are pushing headlines on On the Move.

02/20/2020 03:40 PM
There are new racial wealth gap numbers, and they're not pretty

There are new racial wealth gap numbers, and they're not prettyA group called Prosperity Now recently released a scorecard on the racial wealth gap in the U.S.

02/20/2020 09:33 AM
Coronavirus' biggest winners: Tech providers in China, Hong Kong

Coronavirus' biggest winners: Tech providers in China, Hong KongThe coronavirus outbreak is roiling China, but some startup technology companies are actually benefitting as isolated citizens flock to a range of solutions to achieve a sense of normalcy.

02/20/2020 05:52 PM
Energy Transfer Says CEO of Williams Secretly Undermined Takeover

02/20/2020 06:21 PM
HP Adopts Shareholder Rights Plan to Slow Xerox Takeover Bid

02/20/2020 07:03 AM
Read This Before Selling Dow Inc. (NYSE:DOW) Shares

Read This Before Selling Dow Inc. (NYSE:DOW) SharesWe often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be...

02/20/2020 12:53 PM
7-Eleven Owner in Exclusive Talks to Buy Marathon’s Speedway

7-Eleven Owner in Exclusive Talks to Buy Marathon’s Speedway(Bloomberg) -- Seven & i Holdings Co., the Japanese company that controls 7-Eleven, is in exclusive talks to acquire Marathon Petroleum Corp.’s Speedway gas stations for about $22 billion, according to people familiar with the matter.The 7-Eleven owner is lining up financing for the potential transaction, which could be announced as soon as next week, said the people, who asked not to be identified as the deliberations are private. No final decision has been made and discussions could fall through, they said.Seven & i is considering various possibilities including partnerships and acquisitions for its new growth strategy, the company said in a filing to the stock exchange on Thursday, adding there’s no final decision at the moment. A representative for Marathon Petroleum declined to comment.Shares of Seven & i slumped 8.8% in Tokyo, their biggest decline since March 2011. Marathon Petroleum rose 4.1% to $60.07 at 12:48 p.m. in New York trading Thursday, giving the company a market value of about $39 billion. At about $22 billion, a potential deal for Speedway could be the largest overseas acquisition by a Japanese company since Takeda Pharmaceutical Co.’s $62 billion purchase last year of Shire Plc., according to data compiled by Bloomberg.Marathon Petroleum, a refiner under pressure from activist investors to break up, is exploring a sale of Speedway after announcing plans last year to spin off the retailer, people familiar with the matter said in January. Speedway, with about 4,000 stores in the U.S., could be worth as much as $18 billion including debt as a standalone company, Marathon Petroleum previously said.Speedway has also drawn interest from TDR Capital, which is interested in merging Speedway with one of its portfolio companies, U.K. gas-station operator EG Group, in a transaction that could be worth an estimated $26 billion in cash and stock, Bloomberg News reported last week.Tokyo-based Seven & i, which traces its roots to a clothing store started in 1830, is Japan’s largest convenience store operator. It had more than 69,000 stores in 18 countries and regions at the end of 2018, according to its 2019 annual report.(Updates Marathon Petroleum’s share price in fourth paragraph)\--With assistance from Vinicy Chan, Grace Huang, Matthew Monks, David Wethe and Gareth Allan.To contact the reporters on this story: Scott Deveau in New York at sdeveau2@bloomberg.net;Kiel Porter in Chicago at kporter17@bloomberg.net;Manuel Baigorri in Hong Kong at mbaigorri@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Fion Li, Michael HythaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/19/2020 02:06 PM
Who is the richest billionaire in the world?

02/20/2020 12:00 PM
Tesla Climbs in Consumer Reports Auto Ranking Topped by Porsche

Tesla Climbs in Consumer Reports Auto Ranking Topped by Porsche(Bloomberg) -- Tesla Inc.’s electric cars raced up Consumer Reports’s latest auto brand rankings, inching closer to leader Porsche.Tesla jumped eight spots -- more than any other brand -- to No. 11 in an annual report based on road tests, reliability data, owner satisfaction surveys and safety performance. Consumer Reports ranked Tesla higher than any U.S. brand and made the Model 3 sedan a top pick for the first time, a designation the nonprofit bestows to only 10 cars, SUVs and trucks per year.“The vehicles perform phenomenally,” Jake Fisher, senior director of automotive testing, said of Teslas in a phone interview. “People just love these vehicles.”The acclaim is a major coup for Elon Musk, who eschews the traditional advertising that costs major automakers billions. Many car buyers consult Consumer Reports for big-ticket purchases because it’s built a reputation for thorough and meticulous testing. The organization buys all the vehicles it tests and doesn’t accept any marketing dollars from manufacturers.The Model 3 didn’t perform as well when it first launched in 2017 because, as with the Model S sedan, Tesla was making regular changes to the car on the fly, Fisher said. While the company made some tweaks using over-the-air software updates, others involved changes to hardware that tend to cause problems with reliability. Those cars have stabilized and continue to help the brand overcome poor scores for the Model X sport utility vehicle.Porsche climbed two spots in the rankings to knock Subaru out of first place, though two of the Japanese brand’s models were top picks: the Forester SUV and Legacy sedan. Toyota Motor Corp. dominated those honors by winning four designations with its namesake models -- the Supra sports car, Avalon sedan, Prius hybrid and Corolla small car -- and one with Lexus for the RX SUV.Hyundai Motor Co.’s Genesis luxury brand finished second, unchanged from a year ago. The Korean brand has been on a roll in several influential surveys, leading J.D. Power’s Initial Quality Study each of the last two years. Its first SUV model, the GV80, goes on sale this summer.“Genesis is a luxury brand that competed extremely well right out of the gate,” Fisher said. “It reminds you of 1989 when Lexus arrived.”Ford Motor Co.’s Lincoln line was the second-best American car brand, placing 13th. U.S. automakers were otherwise relegated mostly to the bottom third of the rankings. The Ford brand fell to 23rd, and General Motors Co.’s Chevrolet and GMC placed 25th and 26th.Cadillac’s continued reliability problems dropped the brand to 29th. The Fiat brand again finished last among 33 brands, while Jeep, the cash-cow brand within Fiat Chrysler Automobiles NV, didn’t fare much better.Owners like Jeep’s styling, but the SUVs continue to have ride, handling and quality issues that contributed to the brand slipping two spots to 31st.“Take the badge off and look what do they do, how do they handle, what’s the reliability,” Fisher said. “They just are not competitive.”To contact the reporters on this story: David Welch in Southfield at dwelch12@bloomberg.net;Keith Naughton in Southfield, Michigan at knaughton3@bloomberg.net;Gabrielle Coppola in New York at gcoppola@bloomberg.netTo contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, Chester DawsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/20/2020 01:18 PM
Intelsat Rift With SES Goes All ‘Hunger Games’ Before FCC Vote

02/20/2020 05:14 PM
HP adopts poison pill after Xerox's buyout attempts

02/19/2020 07:28 AM
The Exelixis (NASDAQ:EXEL) Share Price Has Soared 689%, Delighting Many Shareholders

The Exelixis (NASDAQ:EXEL) Share Price Has Soared 689%, Delighting Many ShareholdersBuying shares in the best businesses can build meaningful wealth for you and your family. While not every stock...

02/20/2020 02:07 PM
Mike Bloomberg’s Democratic nominee odds drop, betting giant reveals

Mike Bloomberg’s Democratic nominee odds drop, betting giant revealsAccording to betting giant Paddy Power, Bloomberg's odds to become the Democratic nominee fell by about a third following his first debate. Yahoo Finance’s Zack Guzman, Kristin Myers and Radio Show Host Ben Kissel discuss on YFi PM.

02/20/2020 07:36 AM
When Should You Buy Uniti Group Inc. (NASDAQ:UNIT)?

When Should You Buy Uniti Group Inc. (NASDAQ:UNIT)?Uniti Group Inc. (NASDAQ:UNIT), which is in the reits business, and is based in United States, saw a significant share...

02/20/2020 05:56 PM
This week in Trumponomics: Imploding Democrats

This week in Trumponomics: Imploding DemocratsAnother bad week for Democrats boosts Trump's reelection odds.

02/20/2020 06:04 AM
At US$316, Is Broadcom Inc. (NASDAQ:AVGO) Worth Looking At Closely?

At US$316, Is Broadcom Inc. (NASDAQ:AVGO) Worth Looking At Closely?Today we're going to take a look at the well-established Broadcom Inc. (NASDAQ:AVGO). The company's stock had a...

02/20/2020 06:31 AM
bluebird bio, Inc. Just Released Its Annual Results And Analysts Are Updating Their Estimates

bluebird bio, Inc. Just Released Its Annual Results And Analysts Are Updating Their EstimatesThere's been a notable change in appetite for bluebird bio, Inc. (NASDAQ:BLUE) shares in the week since its annual...

02/20/2020 04:19 PM
Dropbox shares rise after upbeat results, share buyback plan

Dropbox shares rise after upbeat results, share buyback planThe company raised its operating margin target between 28% and 30%, which it expects to achieve by 2024, up from its initial range of 20% to 22%. "The big story is the $600 million buyback, which is a clear indication that Dropbox views their stock as undervalued and that management is bullish on the future of the company," said Rishi Jaluria, an analyst from brokerage D.A. Davidson & Co. Dropbox has been trying to attract customers through tools that allow users to create and share documents across platforms, including Google Docs and Microsoft Office.

02/19/2020 05:17 PM
New York, New Jersey see largest population decrease in US

New York, New Jersey see largest population decrease in US The mass exodus has begun. A new study from career site Zippia found that New York and New Jersey are losing more residents than any other states. New York is number one with the state losing over 300,000 residents from 2017 to 2018. New Yorkers left the big city in favor of states like New Jersey, Pennsylvania, Florida, and Connecticut. New Jersey came in second place with the state losing 97,124 residents, fleeing for places like Florida, North Carolina and California.

02/20/2020 07:44 AM
Are Investors Undervaluing Gilead Sciences, Inc. (NASDAQ:GILD) By 23%?

Are Investors Undervaluing Gilead Sciences, Inc. (NASDAQ:GILD) By 23%?Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Gilead Sciences, Inc...

02/19/2020 02:01 PM
How many Americans live paycheck to paycheck?

02/20/2020 10:40 AM
CalAmp Adds New Fleet Visibility Tools To Its Suite Of Telematics Services

02/20/2020 12:11 PM
Why You Should Hold Iamgold

Why You Should Hold IamgoldSeveral catalysts will push shares higher Continue reading...

02/20/2020 11:19 AM
Venezuela’s Maduro Shakes Up PDVSA, Declares Oil ‘Emergency’

Venezuela’s Maduro Shakes Up PDVSA, Declares Oil ‘Emergency’(Bloomberg) -- Venezuela’s President Nicolas Maduro declared an “energy emergency” as he announced a commission to revamp state oil company Petroleos de Venezuela SA, redoubling efforts to shore up the nation’s crumbling oil industry.Economy Vice President Tareck El Aissami will lead the commission, which will focus on boosting crude production, Maduro said. El Aissami, who is already an external director at PDVSA, will be joined by former Energy Minister Asdrubal Chavez as commission vice president, Defense Minister Vladimir Padrino, armed forces Strategic Operational Commander Remigio Ceballos and others.“I won’t accept more excuses,” Maduro said at an event with PDVSA workers broadcast on state television. “Either we produce or we produce. Venezuela has to be an oil power.”The intervention, which installs a key Maduro loyalist at the top of the state oil producer, came a day after the U.S. imposed sanctions on a unit of Rosneft PJSC -- the biggest exporter of Venezuelan crude -- in a move that threatens Venezuela’s ability to export oil.Boosting crude sales is essential to maintaining Maduro’s grip on power in the economically ravaged country. His regime has previously proposed giving majority shares and control of its oil industry to big international corporations, which would forsake more than a decade of state monopoly. Maduro said he had “investment offers” for more than $25 billion in oil production projects and refinery rehabilitations. He did not provide details.The oil commission will also include current Energy Minister Manuel Quevedo, Interior Minister Nestor Reverol, Transportation Minister Hipolito Abreu, Science and Technology Minister Gabriela Jimenez, Social Labor Minister Eduardo Pinate. The commission will also include seven oil industry workers, a militia member and a state university president.Maduro said the commission will issue measures to “guarantee national energy security and protect the industry from imperialist aggression.”While Maduro vowed to increase production to 2 million barrels a day two years ago, the goal remains far from reach as the country enters its seventh year of economic decline. Production fell to 733,000 barrels a day in January, a 36% drop from a year earlier, according to OPEC secondary sources.January output from PDVSA’s joint ventures with international oil firms accounted for 56% of total oil and gas production, while the company alone produced 44%, according to PDVSA data seen by Bloomberg.Rosneft Trading accounted for about half of Venezuela’s 874,649 barrels a day of exports in January, according to shipping reports and tracking data compiled by Bloomberg. It’s unlikely that other trading companies will step in and take charge of volumes traded by Rosneft following the imposition of sanctions, FGE analysts said in a note earlier Wednesday.In the midst of tightening U.S. restrictions on Venezuelan crude, global benchmark Brent extended its longest rally in a year.(Adds production data in ninth paragraph; minor changes throughout.)\--With assistance from Lucia Kassai and Alex Vasquez.To contact the reporter on this story: Fabiola Zerpa in Caracas Office at fzerpa@bloomberg.netTo contact the editors responsible for this story: Patricia Laya at playa2@bloomberg.net, Catherine Traywick, Joe CarrollFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/19/2020 08:39 AM
Square Resets Its Base Count

Square Resets Its Base CountSpectacular run in Square in 2017 and 2018 but not much from it in 2019. But don't count it out. Though rare, you do have many cases of former leaders coming back to lead again. Square is showing a breakout from a cup base with a 83.30 entry. An earlier entry came from a little handle at 71.10 that didn't show up on the weekly. You've got two things making this a reset of the base count. First you undercut the prior base low at 59.89. Second the amount of time put in. They either wear you out or scare you out, in this case it did both.

02/20/2020 05:00 AM
A Portfolio for Steady Dividends

02/20/2020 09:32 AM
Does Rite Aid Corporation (NYSE:RAD) Have A Particularly Volatile Share Price?

Does Rite Aid Corporation (NYSE:RAD) Have A Particularly Volatile Share Price?If you own shares in Rite Aid Corporation (NYSE:RAD) then it's worth thinking about how it contributes to the...

02/20/2020 03:57 PM
T-Mobile, Sprint amend merger terms; to close deal as early as April 1

T-Mobile, Sprint amend merger terms; to close deal as early as April 1Under the revised deal, T- Mobile's parent Deutsche Telekom will hold about 43% of the combined entity, up from the 42% that the German group would have held. SoftBank will hold about 24% and the rest by public shareholders. SoftBank has agreed to surrender about 48.8 million T-Mobile shares acquired in the merger to the 'new company' after the deal closes, changing the exchange ratio to 11 Sprint shares for each T-Mobile share, higher than the originally agreed 9.75 shares.

02/20/2020 05:13 PM
Ex-Obama adviser defends Sanders against Bloomberg's communism attack

Ex-Obama adviser defends Sanders against Bloomberg's communism attackFormer Obama economic adviser Austan Goolsbee called out Bloomberg's mischaracterization of Bernie Sanders and Elizabeth Warren.

02/20/2020 10:55 AM
5 Most Popular Financial Stocks Among Hedge Funds

5 Most Popular Financial Stocks Among Hedge FundsOne of the best tools for ordinary investors who are on the hunt for new ideas is 13F filings. Once every quarter, hedge funds with at least $100 million in total positions in publicly traded US stocks are required to disclose the number of shares and the total value of its positions in each of […]

02/20/2020 12:01 PM
How rational Democrats can beat Bernie Sanders

How rational Democrats can beat Bernie SandersIf all the moderate Democrats running for president united behind a single candidate, they'd easily knock Sanders out.

02/20/2020 05:50 PM
Some Oracle Employees Stop Work in Protest of Larry Ellison’s Politics

Some Oracle Employees Stop Work in Protest of Larry Ellison’s Politics(Bloomberg) -- While a wave of employee activism marked by walk-outs and protests has rippled through Silicon Valley the past few years, Oracle Corp. glided along unscathed.Now, a symbol of tech’s old guard is facing the stirrings of a worker uprising as well. People left their desks Thursday at Oracle offices around the world to protest Chairman Larry Ellison’s fundraiser a day earlier for President Donald Trump, according to people familiar with the matter. The protest, called No Ethics/No Work, involved about 300 employees walking out of their offices or stopping work at remote locations at noon local time and devoting the rest of the day to volunteering or civic engagement, said one of the people, who asked not to be identified for fear of retribution.Ellison drew employee ire that most didn’t know existed at Oracle. News of the fundraiser for Trump’s re-election campaign at Ellison’s home in Rancho Mirage, California, spurred a petition at Change.org from some of the company’s 136,000 employees. The workers argued the chairman’s public support for Trump violated Oracle’s diversity, inclusion and ethics policies, and harmed the image of the world’s second-largest software maker.The petition had more than 8,000 signatures as of Thursday afternoon, though it was open to the public and anyone could sign it. Organizers demanded that Oracle and Ellison give money to support a humanitarian cause such as climate change, denounce the Trump administration and commit to diversifying the company’s board.Employees at Alphabet Inc.’s Google, Amazon.com Inc., Microsoft Corp. and Salesforce.com Inc. started mobilizing more than two years ago over a variety of issues, including law enforcement and military contracts, the gender pay gap and the treatment of contract workers.Thursday’s activism at Oracle, a database stalwart founded in 1977, showed cultural differences from the younger companies like Google. Some Oracle workers who participated in the “log off” used vacation time for the protest, the people said. Many had asked the company’s human resources officials whether they would be targeted for participating and didn’t receive a response before the protest, so they took the precaution of participating on their own time, the people said.Others who supported the action, but were leery about the company’s potential response, chose to donate money to charitable groups that oppose Trump administration policies rather than leave work, the people said.Some employees received a warning Thursday when trying to access the protest organizers’ website from a work computer: “Access to this site may not be permitted by the Oracle Acceptable Use Policy. However, if user is authorized and has legitimate business reason to access the requested site, then click below to access. Your access will be logged.”Oracle, however, said the message was an error that was corrected.“The site was not intentionally blocked by Oracle,” said spokeswoman Deborah Hellinger. “It was temporarily blocked by a ‘false positive’ from our McAfee network security and anti-virus software. Once we were notified by employees of this issue, our security team conducted a review, determined that there was no actual security threat, and then whitelisted the site.”Organizers said the protest participation at Oracle’s headquarters in Redwood City, California, seemed more muted than in other locations, such as New York City and Austin, Texas, which have more young workers.The organizers hope Thursday’s action is the first effort to voice concerns about the company’s policies, and employees will continue to feel motivated to speak out, one of the people said.To contact the reporter on this story: Nico Grant in San Francisco at ngrant20@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Mark MilianFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/20/2020 11:36 AM
How Should Investors Feel About OrganiGram Holdings Inc.'s (TSE:OGI) CEO Pay?

How Should Investors Feel About OrganiGram Holdings Inc.'s (TSE:OGI) CEO Pay?Greg Engel has been the CEO of OrganiGram Holdings Inc. (TSE:OGI) since 2017. First, this article will compare CEO...

02/19/2020 01:02 PM
Top Analysts’ 3 Favorite Dividend Stocks for 2020

Top Analysts’ 3 Favorite Dividend Stocks for 2020Savvy investors are always on the lookout for high-return stocks. These are the investments that will bring the most bang for the buck, through a combination of share appreciation and dividend income. By pursuing a dual strategy, with returns based on both share gains and company profits, investors can protect their portfolio from market downturns. While that may not seem important now, after the S&P 500 rose 29% in 2019, remember that Wall Street forecasts 2020 with lower gains, in the 3% to 5% range for the full year.But choosing the right dividend stock can be a trick all its own. High dividends and high share appreciation don’t often go hand-in-hand. Dividend payments are, by nature, a conservative strategy for companies to use, and as a rule of thumb the more conservative companies are less likely to show the high share gains that will equal a profitable portfolio. So, it may be better to focus on companies with mid-range dividend payments, that outdo the market average (about 2% yield, among S&P listed firms), but still offer a solid supplement for investors.We wanted to see what Wall Street’s top analysts think of this idea. We opened up TipRanks’ Analysts’ Top Stocks tool, which highlights great investments tagged by top-performing analysts. Using their insights, we’ve picked out three Strong Buy stocks with a combination of higher-than-average upside potential and dividend payment.Restaurant Brands International (QSR)First on the list is a Canadian-based fast-food holding company, formed in 2014 when American burger giant Burger King merged with Canada’s iconic Tim Hortons. After purchasing Popeyes, the popular chain of fried chicken restaurants, Restaurant Brands International became the fifth largest fast food company in the world, with a market cap of $20 billion and upwards of $5.4 billion in annual revenue.The company showed solid performance in the fourth quarter of 2019, beating both the top and bottom line estimates. Revenue was reported at $1.48 billion, beating the $1.46 billion consensus by 1.3%, and more importantly, growing 6.8% year-over-year. EPS beat the current forecast by 2.7%, and grew 10.3% to reach 75 cents. All told, it was the kind of performance that makes investors happy. The company’s Burger King division powered the quarter with solid growth performances, while the Popeyes division showed the strongest sales gain.QSR kept up its dividend in the quarter, paying out 52 cents per share. This makes the annual payment $2.08, and gives a yield of 3.09%. It may not sound like much, but the yield is some 50% higher than average, and the company has a long history of reliably paying out dividend. It has raised the payment three times in the last three years. The 69% payout ratio shows a commitment by the company to both sharing profits and keeping the payment sustainable – good signs for income-minded investors.Writing on QSR for Piper Sandler, 5-star analyst Nicole Miller Regan said of the company’s path forward, “The Burger King concept is a powerful engine of growth considering 9% systemwide growth based on more than 1,000 new stores as well as an almost +2% comp for the year… Popeyes experienced a pivotal year in terms of +12% same store sales and successful development of more than 200 new units that lends itself to an increased pipeline of global development. Finally, a digital transformation is underway at the corporate level that should serve to benefit all brands.” Regan’s price target on QSR, $80, supports her Buy rating and indicates an 18% upside potential. (To watch Regan’s track record, click here)Jeff Bernstein from Barclays, another 5-star analyst, agrees that investors should be bullish on QSR. He writes, “QSR delivered in 2019, with top- to bottom-line growth in-line with their historical algorithm, which equates to their ‘long-term’ guidance… BK comp likely improved to start 2020, and PLK comp remains outsized... The QSR portfolio has fundamental growth among the strongest in the segment.” Bernstein also complements his Buy rating with an $80 price target. (To watch Bernstein’s track record, click here)QSR backs its Strong Buy analyst consensus rating with no fewer than 13 positive reviews from recent weeks, against just 2 Holds and 1 Sell. The stock is selling for $66.35, and the average price target of $75.09 suggests an upside potential of 13%. (See Restaurant Brands stock analysis at TipRanks)MetLife, Inc. (MET)Our second stock up today is a major name in the insurance industry. MetLife is a $47 billion company, offering a wide array of insurance products to 90 customers in over 60 countries. MetLife’s products include life and disability insurance, dental plans, and auto and home insurance. The company is also one of the world’s largest annuity providers. In recent years, MetLife has also introduced an insurance product to protect against identity theft. Insurance is one of the ‘necessary’ products in today’s economy, existing to product the finances of individuals and corporation. As such, it’s a profitable industry; MetLife did $67.9 billion in business in fiscal 2018.MET reported its Q4 2019 earnings last week, showing solid results and a year-over-year gain in net income. For the quarter, net earnings came in at $1.8 billion, up 38% sequentially, and equating to $1.98 per share. This beat the estimates by 41%. Full year income was $5.7 billion, giving an EPS of $6.06. This was a 23% year-over-year gain. Shares in the stock are up 23% in the past 12 months.Solid financial results support a solid dividend, and MET delivers on that score. The company pays out 44 cents quarterly, or $1.76 per share annually. This gives the stock a yield of 3.36% and a payout ratio of just 22%. MET has a 7-year history of slowing growing the dividend, maintaining it an easily sustainable level with an attractive yield.RBC analyst Mark Dwelle, who rates 5 stars from TipRanks, sees MET as a strong choice for investors. He writes of the company, “The company remains well positioned for 2020 and we remain positive about the company's plans for growth, expense reductions and significant capital return. Relative to peers, Met is somewhat less interest-rate sensitive and accordingly we think it is an attractive idea within the life insurance sector.”Dwelle’s $57 price target indicates his confidence in 9% growth for the coming year, supporting his Buy rating on the stock. (To watch Dwelle’s track record, click here)The analyst consensus on MET, a Strong Buy rating, is based on 6 Buys and just a single Hold set in recent months. The average price target, $58.86, suggests a 13% premium from the current share price of $51.98. (See MetLife’s stock analysis at TipRanks)Valero Energy Corporation (VLO)The energy industry is a cash-rich sector that has faced recent headwinds. High overhead, low product prices, and government regulation have all pushed down on energy profits. As the Presidential election year heats up, there are lingering worries about the Democratic Party’s push farther to the left, and adoption of anti-fossil fuel policies. Valero, a player in the midstream and downstream sectors of the energy business, has been managing those obstacles and bringing in profits.In Q4 of last year, VLO beat both the earnings and revenue estimates, and showed a modest year-over-year gain in EPS. The bottom-line number, at $2.13 per share, was 33% above the forecast, and a half-percent better than the prior year. Revenues were posted at $27.88 billion, down 3% yoy but 1% over expectations. Shares fell sharply after the January 30 earnings release, but have since regained half of the losses.The firm dividend situation may be helping to calm investors on this stock. With a 43% payout ratio, there is no worry about sustainability here – Valero can afford its dividend payment of 98 cents. The $3.92 annualized payment makes the yield 4.74%, well over double the S&P average, and roughly triple the yield of US Treasury bonds. VLO raised its dividend for the next payment, marking the third increase in three years. The company has a 10-year history of dividend growth.Wall Street sees smoother sailing for VLO going forward. Wolfe Research’s 5-star analyst Sam Margolin writes, “Refining margins on the Gulf Coast and North Atlantic were stronger than we’d modeled, while the MidCon and West Coast margins were in line with our expectations. Renewable diesel and ethanol segments both beat as well. 2020 capex guidance of $2.5B was reiterated and the throughput guide for 1Q implies seasonally normal turnaround activity.” Margolin’s $122 price target is aggressive, implying a robust upside of 47% in support of his Buy rating. (To watch Margolin’s track record, click here)Phil Gresh, a 5-star analyst from JPMorgan, agrees that VLO has strong prospects. He said of the stock, “[T]he company continued to demonstrate capture rate resiliency in all regions. Looking ahead, we expect that IMO 2020 should be a tailwind for VLO, particularly on the Gulf Coast, even if clean product crack spreads are sluggish for the broader industry, aided by feedstock benefits.” Gresh put a Buy rating on VLO, and his $101 price target indicates room for 22% growth this year. (To watch Gresh’s track record, click here)Valero, like the other stocks in this list, shows a Strong Buy analyst consensus. This one is unanimous, based on 8 Buy ratings wet in recent weeks. VLO also has the highest upside potential of the stocks on this list, at 30%. The stock sells for $82.77, and the average price target is $101.71. (See Valero stock analysis at TipRanks)

02/20/2020 08:41 AM
Results: Nordic American Tankers Limited Delivered A Surprise Loss And Now Analysts Have New Forecasts

Results: Nordic American Tankers Limited Delivered A Surprise Loss And Now Analysts Have New ForecastsLast week, you might have seen that Nordic American Tankers Limited (NYSE:NAT) released its full-year result to the...

02/20/2020 06:36 AM
CVS Health Corporation Full-Year Results Just Came Out: Here's What Analysts Are Forecasting For Next Year

CVS Health Corporation Full-Year Results Just Came Out: Here's What Analysts Are Forecasting For Next YearAs you might know, CVS Health Corporation (NYSE:CVS) recently reported its annual numbers. Results were roughly in...

02/19/2020 12:45 AM
Chinese Companies Say They Can’t Afford to Pay Workers Now

Chinese Companies Say They Can’t Afford to Pay Workers Now(Bloomberg) -- A growing number of China’s private companies have cut wages, delayed paychecks or stopped paying staff completely, saying that the economic toll of the coronavirus has left them unable to cover their labor costs.To slow the spread of the virus that’s claimed more than 2,000 lives, Chinese authorities and big employers have encouraged people to stay home. Shopping malls and restaurants are empty; amusement parks and theaters are closed; non-essential travel is all but forbidden.What’s good for containment has been lousy for business. With classes canceled at a coding-and-robotics school in Hangzhou, employees will lose 30% to 50% of their wages. The Lionsgate Entertainment World theme park in Zhuhai is closed, and workers have been told to use up their paid vacation time and get ready for unpaid leave.“A week of unpaid leave is very painful,” said Jason Lam, 32, who was furloughed from his job as a chef in a high-end restaurant in Hong Kong’s Tsim Sha Tsui neighborhood. “I don’t have enough income to cover my spending this month.”Across China, companies are telling workers that there’s no money for them -- or that they shouldn’t have to pay full salaries to quarantined employees who don’t come to work. It’s too soon to say how many people have lost wages as a result of the outbreak, but in a survey of more than 9,500 workers by Chinese recruitment website Zhaopin, more than one-third said they were aware it was a possibility.The salary freezes are further evidence of the economic hit to China’s volatile private sector -- the fastest growing part of the world’s second-biggest economy -- and among small firms especially. It also suggests the stress will extend beyond the health risks to the financial pain that comes with job cuts and salary instability. Unsurprisingly, hiring has all but ground to a halt: Zhaopin estimates the number of job resumes submitted in the first week after the January outbreak was down 83% from a year earlier.“The coronavirus may hit Chinese consumption harder than SARS 17 years ago,” said Chang Shu, Chief Asia Economist for Bloomberg Intelligence. “And SARS walloped consumption.”By law, companies have to comply with a full pay cycle in February before cutting wages to the minimum, said Edgar Choi, author of “Commercial Law in a Minute” and host of a legal-advice account on WeChat. For companies that aren’t making enough to cover payroll, it’s permissible to delay salaries, as long as staff get the money they’re owed eventually.Choi said he’s heard from thousands of foreign workers who say their payments have been cut in half this month or halted althogether. That, he said, is illegal. “A lot of these employees are foreigners, they don’t know Chinese,” he said. “Whatever their boss tells them, that’s it. It’s easy for them to get bullied.”NIO Inc., an electric car-maker based in Shanghai, recently delayed paychecks by a week. The company’s chairman William Li also encouraged employees to accept restricted stock units in lieu of a cash bonus.At Foxconn Technology Group’s Shenzhen factory, workers returning from the Lunar New Year break are quarantined in the dorms before they can return to work. They’re getting paid, but only about one-third of what they’d earn if they were working.Without full, regular paychecks and few places to spend them these days anyway, Chinese consumers could cut spending in some categories to zero, said Bloomberg’s Shu. And it may not bounce back: For example, she said, if you skip your daily latte for two months, you’re not likely to make up for those missed drinks later in the year.With limited reserves and less by way of remote technologies, the smaller companies that underpin China’s vast private sector are particularly vulnerable. Among broader efforts to help firms stay afloat, policy makers have called on state-run banks to make loans at cheaper rates to small businesses in particular.In the case of Pei Binfeng, co-founder of the Hangzhou coding and robotics academy, the outbreak forced them to suspend all in-person classes for students in kindergarten through grade 12. With the loss of revenue, the company will withhold 50% of salary for key executives and 30% for other employees until business resumes.“What we teach isn’t a must-have for a lot of parents, so expenses like this are usually the first to go when things get tough,” said Pei.Rick Zeng, deputy general manager at the Lionsgate theme park in Zhuhai, said they’ve been shut down on government orders since the end of January. Starting next week, some staff will need to go on unpaid leave.In the southeastern city of Fuzhou, hotel manager Robert Zhang said all but two or three of his 100 rooms are vacant on average nights. Two-thirds of the employees are effectively on furlough, getting some salary but not as much as they’re used to.“When there’s no business, there’s no performance-based salary,” he said. “For a month or two, the impact isn’t immediately obvious. But if the epidemic lasts and tourism doesn’t recover for three to four months, our employees will feel the crunch.”(Updates with job data in the sixth paragraph. An earlier version corrected Edgar Choi’s occupation)\--With assistance from Colum Murphy, Shirley Zhao, Bei Hu and Gao Yuan.To contact the reporters on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.net;Jinshan Hong in Hong Kong at jhong214@bloomberg.netTo contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, Janet Paskin, Edwin ChanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

02/19/2020 11:56 AM
Buy the Dip on Roku Stock

Buy the Dip on Roku StockROKU options can be had for a bargain at the moment

02/20/2020 05:57 AM
Bitcoin suffers worst daily candle since September

Bitcoin suffers worst daily candle since SeptemberBitcoin endured its worst daily candle since September with a dramatic $1,000 sell-off within the space of 24-hours. It is now trading below the $9,600 level of support-turned-resistance after dwindling all the way down to $9,350. A breakdown in price from $9,350 will see a re-test of the 200 daily moving average, which is currently in confluence with the $8,830 level of support. Bitcoin is now trading 9% lower than it was this time last week when it tested the $10,500 level as anticipation began to build around May's halving event. In May Bitcoin will undergo its third block reward halving in its history. This has historically caused a significant rally in the price of cryptocurrencies as supply dries upThe post Bitcoin suffers worst daily candle since September appeared first on Coin Rivet.

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