Well, it's been a while. But, the recent market action has driven me to write something. Since reaching record highs in the first few trading days of the year, the S&P has basically plummeted nearly 10% in just the last few weeks. Looks pretty ugly, doesn't it? The NASDAQ is in worse shape, …
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Zoom Video gets tepid endorsement from Deutsche Bank as stock heads toward a ‘death cross’
Source: MarketWatch
Zoom Video Communications Inc. will play an “integral” role in a post-COVID world, but Deutsche Bank analyst Matthew Niknam said the stock has already…
Spending rotation into services points to ‘much more upside’ for the travel sector (XLY, VCR, INX, DJIA, COMPX, NDX, JETS)
Source: Business Insider
Summary List Placement The travel sector holds the potential for further upside this year following signs of a rotation in consumer spending to services from goods, according to Jefferies. The S&P 500’s consumer discretionary sector rose 0.3% in choppy trade Friday following the release of the Commerce Department’s personal spending and income report for February. The headline figure showed a 1% decline in expenditures, more than the 0.7% fall expected in an Econoday consensus survey. But the report also showed that spending on services edged up by 0.1% during the month, marking a third month of growth, albeit slower than January’s rate of 0.9%. “Within services, spending on air transport and accommodation increased notably. This is a very encouraging sign, suggesting that the vaccination campaign and reopening are having the desired impact on consumer behavior,” Aneta Markowska, chief financial economist at Jefferies, wrote in a note Friday. “We expect much more upside in these sectors in the months ahead.” Some airline stocks were up Friday.
Shares of Discovery, ViacomCBS tumble on Wells Fargo downgrade
Source: New York Post
Shares of Discovery and ViacomCBS tumbled on separate downgrades from Wells Fargo on Friday, as analysts expressed concerned that the media companies’ recent gains may be overblown. In early-day trading, ViacomCBS saw its stock sink more than 12 percent, to $57.76, as shares of Discovery plunged more than 21 percent, to $45.50. ViacomCBS, which operates…
Discovery, AMC Networks Tumble as Wells Fargo Downgrades
Source: Investing.com
https://www.investing.com/news/stock-market-news/discovery-amc-networks-tumble-as-wells-fargo-downgrades-2458693
As ThredUp’s stock pops in public debut, its CEO shares the resale platform’s key advantages over Poshmark and other marketplaces
Source: Business Insider
Summary List Placement ThredUp is the latest resale platform to go public. The resale marketplace raised $168 million in an initial public offering on Thursday, pricing its 12 million shares at $14 per share, joining the ranks of other reselling platforms that have gone public in the last few years. It was up by as much as 26% in early trading, indicating investor appetite remains strong for resale. According to research from ThredUp, the resale sector is projected to grow from $28 billion to $64 billion by 2025, despite current headwinds faced across the entire retail industry. “All the big trends are in our favor,” ThredUp CEO and cofounder James Reinhart said in a Friday morning interview with Insider. According to a filing with the Securities and Exchange Commission, ThredUp’s revenue was $186 million in 2020, up 14% over 2019. ThredUp is one of multiple resale platforms that saw an uptick in site engagement and sellers during the pandemic. In June, Reinhart said a wave of “conscious” shopping among consumers was making value a major priority.
The best sales to shop this weekend: Adidas, Macy’s, Instant Pot and more
Source: CNN
This weekend, you’ll find a deal on Instant Pots at Walmart, a discounted Loftie alarm clock and savings on final sale styles from Adidas. All that and more below.
Meet the millennial designer and CEO who wants to make comfort clothing the new power dressing
Source: Business Insider
Summary List Placement Way back in 2011, Misha Nonoo was having brunch with some friends in Manhattan. She was around 25 at the time, sporting a jacket that she herself had designed. By chance, a buyer for the brand Intermix was sitting one table over. “She said, ‘I love the jacket you’re wearing, where is it from?’ And I said, ‘Oh, I made it,” Nonoo recalled to Insider. Next thing she knew, Nonoo found herself in the buyer’s office, showing off eight original designs. “I walked out with a purchase order for six of the eight pieces,” Nonoo said. It was worth $150,000. A few months later, Nonoo officially launched her eponymous clothing line , and within two years, she became a finalist for the prestigious CFDA/Vogue Fashion Fund. In 2015, she was named one of Forbes’ 30 Under 30. That same year, she became the first designer to host a fashion show on Instagram. The next year, Snapchat. Read more: Inside the world of ‘Bling Empire’s’ Jaime Xie, the tech heiress forging her own path as a fashion influencer Nonoo, now 35, told Insider she can’t exactly remember her first celebrity client but said her first clients were her friends and family whose support helped build the business — it’s just that Markle and Princess Beatrice happen to be in her friendship circle.
Goldman Sachs says buy these 8 beaten-down stocks right now to capitalize on a recovery in oil prices by year-end — including one expected to surge 49%
Source: Business Insider
Summary List Placement Crude oil looks set to finish this week with a third consecutive weekly decline and a key market sentiment indicator has turned negative for the first time this year. This is despite a jump in prices since the middle of the week after the blockage of the Suez Canal by a container ship that had run aground. The passage is a key shipping route for crude and refined products and news on Friday that the vessel may take weeks to dislodge gave the market further support. However, the short-term outlook for oil is looking volatile. The physical markets are showing signs of weakening, as refineries in key consumption hubs, such as China, shut down for seasonal maintenance and as a third wave of COVID-19 across Europe threatens to dampen demand across the region at the same time. However, Goldman Sachs analysts in a March 24 research note said they still see a clear path to higher oil prices by year-end, with a view that the price of Brent crude – the global benchmark – will reach $75 a barrel, from around $63 a barrel right now.
Here’s the simple 5-step COVID-19 questionnaire Wells Fargo is using to decide if it’s safe for employees to enter the office
Source: Business Insider
Summary List Placement Wells Fargo requires all of its employees to fill out a five-step COVID-19 questionnaire before they return to the office, a spokesperson told Insider. Staff must complete this form, which Wells Fargo sent to Insider, every day before they enter one of the bank’s offices, they said. The questions ask about COVID-19 tests and symptoms — if any answers suggest a person might have the virus, they can’t enter their workplace. The questions, detailed below, are based on coronavirus health guidance from the US Centers for Disease Control and Prevention (CDC). Wells Fargo’s policy is similar to those at other banks: JPMorgan told Insider in February it required its staff to take a daily-health check on a mobile or laptop before entering its workplaces. Meanwhile, sources told Insider that Deutsche Bank, Bank of America, and Credit Suisse are testing employees that work from the office on a weekly basis. The Wells Fargo COVID-19 questionnaire in full Have you tested positive for COVID-19 in the last 10 days?
