Thursday, August 6

Month: July 2020

James Murdoch resigns from News Corp board, cites ‘disagreements’ with editorial coverage – CNBC
Stock News

James Murdoch resigns from News Corp board, cites ‘disagreements’ with editorial coverage – CNBC

James Murdoch, co-chief operating officer of 21st Century Fox Inc. Christophe Morin | Bloomberg | Getty Images James Murdoch resigned from the News Corporation board of directors on Friday. Murdoch's resignation is effective immediately, according to the company, and decreases the board's size to 10 members. "My resignation is due to disagreements over certain editorial content published by the Company's news outlets and certain other strategic decisions," Murdoch said in a letter announcing his decision. James is the son of Rupert Murdoch, the former CEO and chairman of News Corp and the current executive chairman. His brother, Lachlan Murdoch, is co-chairman of the board. James Murdoch did not specifically say what editorial content he disagreed with. However, in January, a...
Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know
Stock News

Occidental Petroleum (OXY) Stock Sinks As Market Gains: What You Should Know

Occidental Petroleum (OXY) closed the most recent trading day at $15.74, moving -0.19% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.49%. Prior to today's trading, shares of the oil and gas exploration and production company had lost 11.31% over the past month. This has lagged the Oils-Energy sector's gain of 0.24% and the S&P 500's gain of 5.03% in that time. Investors will be hoping for strength from OXY as it approaches its next earnings release, which is expected to be August 10, 2020. On that day, OXY is projected to report earnings of -$1.66 per share, which would represent a year-over-year decline of 271.13%. Our most recent consensus estimate is call...
Accenture (ACN) Gains But Lags Market: What You Should Know
Stock News

Accenture (ACN) Gains But Lags Market: What You Should Know

Accenture (ACN) closed the most recent trading day at $224.78, moving +0.36% from the previous trading session. This change lagged the S&P 500's 0.77% gain on the day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, added 1.49%. Prior to today's trading, shares of the consulting company had gained 3.83% over the past month. This has traded in line with the Business Services sector and lagged the S&P 500's gain of 5.03% in that time. Investors will be hoping for strength from ACN as it approaches its next earnings release. On that day, ACN is projected to report earnings of $1.73 per share, which would represent a year-over-year decline of 0.57%. Our most recent consensus estimate is calling for quarterly revenue of $10.89 billion, down 1.52% from the year-a...
Tilray, Inc. (TLRY) Stock Sinks As Market Gains: What You Should Know
Stock News

Tilray, Inc. (TLRY) Stock Sinks As Market Gains: What You Should Know

Tilray, Inc. (TLRY) closed the most recent trading day at $7.38, moving -1.99% from the previous trading session. This change lagged the S&P 500's daily gain of 0.77%. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq added 1.49%. Prior to today's trading, shares of the company had gained 8.19% over the past month. This has outpaced the Medical sector's gain of 4.73% and the S&P 500's gain of 5.03% in that time. Investors will be hoping for strength from TLRY as it approaches its next earnings release, which is expected to be August 10, 2020. In that report, analysts expect TLRY to post earnings of -$0.27 per share. This would mark year-over-year growth of 15.63%. Our most recent consensus estimate is calling for quarterly revenue of $55.32 million, up 20.52% from th...
Turkey in 2nd Currency Crisis in 2 Years. Lira Hits Record Low – WOLF STREET
Currencies

Turkey in 2nd Currency Crisis in 2 Years. Lira Hits Record Low – WOLF STREET

Foreign investors are fleeing, worried about surging inflation, deeply negative real interest rates, and a central bank unwilling to crack down on inflation. By Nick Corbishley, for WOLF STREET: The Central Bank of the Republic of Turkey (CBRT) has burned through tens of billions of dollars of increasingly scarce foreign-exchange reserves trying to prop up the lira. It has also borrowed vast sums of foreign currencies from domestic banks and then sold those currencies to buy lira. But to no avail. The Turkish lira is plumbing depths it’s never seen before. This week, it sank to a record low of 8.30 lira to the euro and closed on Friday at 8.25. This three year chart also shows the currency crisis in August-September 2018: In terms of the dollar, the lira had hit a record low on May 8,...
Here’s how PayPal hopes to turn Venmo into the next PayPal
Stock News

Here’s how PayPal hopes to turn Venmo into the next PayPal

PayPal Holdings Inc. has built itself into a financial juggernaut during the COVID-19 pandemic, and it’s now worth more than Walt Disney Co., Netflix Inc. and every U.S. bank except JPMorgan Chase & Co. If PayPal PYPL, +1.84% can get bigger, it will likely depend on its own Venmo brand turning its popularity with younger consumers into actual revenue. Making Venmo a true money machine for PayPal will depend on its new general manager, Darrell Esch, a PayPal veteran who took over the role in March after the company cycled through leaders over the previous four years. PayPal acquired Venmo as part of its $800 million purchase of startup Braintree in 2013. “This is our time and we’re really going to seize the moment,” Esch told MarketWatch this week in an exclusive post-earnings int...
Starbucks’ Q3 Earnings Top Amid Coronavirus Crisis: ETFs to Gain
ETFs

Starbucks’ Q3 Earnings Top Amid Coronavirus Crisis: ETFs to Gain

Starbucks Corporation SBUX released third-quarter fiscal 2020 results, after market close on Jul 28. The company’s earnings and revenues topped estimates but sharply declined year over year. Notably, shares of Starbucks have gained 3.7% since the earnings release as investors cheered the encouraging results. Earnings in Focus Starbucks reported adjusted loss of 46 cents per share compared with the consensus mark of a loss per share of 61 cents. In the prior-year quarter, the company had reported adjusted earnings per share of 78 cents. Revenues also declined nearly 38.1% year over year to nearly $4.22 billion but outpaced the Zacks Consensus Estimate of $4.11 billion. Starbucks also informed that due to the coronavirus pandemic, it lost nearly $3.1 billion in consolidated revenues. The...
Decentralized Apps May Solve SIM Swapping Woes
Crypto News

Decentralized Apps May Solve SIM Swapping Woes

In the US alone, over $55m has been stolen through SIM swapping attacks since 2018. NEM, a blockchain-based ecosystem, believes that decentralized apps could provide a meaningful solution to this problem. According to NEM, they’re working with a solution called “FIX Network”, which was established to help mobile subscribers secure private keys and transactions on SIM cards. The network leverages a blockchain-based protocol to support the security and privacy of mobile subscribers, NEM explains: “This unique architecture will allow mobile operators to deliver services such as digital identity management, cryptocurrency wallets, and personal data firewalls, all enabled by the safekeeping of private keys on the subscribers’ SIM cards.” Aiming for mass adoption One of the features, FI...
Friday 7/31 Insider Buying Report: WYND, ZYXI
Stock News

Friday 7/31 Insider Buying Report: WYND, ZYXI

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys. On Friday, Wyndham Destinations' Michael Dean Brown, made a $122,742 purchase of WYND, buying 4,500 shares at a cost of $27.28 a piece. Wyndham Destinations is trading down about 2% on the day Friday. Before this latest buy, Brown bought WYND on 3 other occasions during the past twelve months, for a total cost of $498,046 at an average of $29.30 per share. And on Thursday, Chief Financial Officer Daniel J. Moorhead purchased $49,495 worth of Zynex, purchasing 2,733 shares...
Reliance Home Finance Q1 results: Reports net loss of Rs 161 crore
Stock News

Reliance Home Finance Q1 results: Reports net loss of Rs 161 crore

NEW DELHI: Reliance Home Finance on Friday reported a net loss of Rs 161.34 crore during the first quarter of 2020-21 due to a fall in interest income.The Reliance Capital subsidiary had posted a net profit of Rs 48.63 crore in the same quarter of the previous fiscal year. However, the net loss for the quarter was lower than Rs 238.37 crore reported for the March 2020 quarter. The company's total income fell to Rs 244.59 crore in the April-June period of 2020-21 from Rs 536.98 crore in the same period of 2019-20. Interest income dropped to Rs 242.98 crore in the first quarter from Rs 525.23 crore in the year-ago quarter. Expenses rose to Rs 489.04 crore in April-June 2020-21 as against Rs 466.68 crore in the year-ago quarter, it said in a regulatory filing. The company which is mainl...