Alphabet (GOOGL) at 5-Year Resistance After Big Breakout

angel may

Alphabet Inc. (GOOGL) stock has now completed a breakout above the February high near $1,500 and could trade above $2,000 in coming weeks. It’s the last member of the FAANG quintet to hit new highs, restoring the leadership mystique of these Nasdaq 100 mega-caps. Even so, Alphabet remains vulnerable to cyclical forces, driven by a strong dependence on advertising revenue that has taken a hit due to the COVID-19 pandemic.

Key Takeaways

  • Alphabet stock broke out to a new high at the end of August and could trade above $2,000.
  • The rally has now reached five-year resistance above $1,700.
  • Profits and revenues are highly dependent on economic cycles, due to heavy advertising exposure.

The stock market is “pricing in” a full economic recovery in 2021, but that might not be in the cards, given persistently high unemployment and recent surveys that indicate many small businesses won’t survive in the next

Read More

Big names help students make sense of business during COVID-19

angel may

As we all struggle to adapt to a world defined by COVID-19, the USC Marshall School of Business is helping students try to make sense of it all — particularly the pandemic’s impact on the economy.

Professor Chris Parsons and Associate Professor Sarah Townsend are enlisting professionals to expose students in any major to COVID-era business and economic concepts.

we are SC logo

“I tried to think: What would an art history major, engineering major or anyone in between want to know about what’s relevant?” Townsend said. “It’s not just, ‘OK, you want to be CEO? Here’s some stuff you need to know.’ It’s, ‘OK, you’re a person in the world right now. Here are some things that you need to know.’”

Townsend’s new class, “If not you, who? The future of leadership” — as well as Parsons’ class, “If not now, when? The future of capitalism” — are available as non-credit options this

Read More

The 800-Lb Gorilla Between U.S. Shale Producers And A Big Comeback: Decline Rates

angel may

By Mark Finley

It’s been a rough year for US shale producers.  Prices collapsed, investment collapsed, the rig count collapsed, jobs collapsed.  And production collapsed: Indeed, in recent months we’ve seen the fastest oil production drop in US history.  

But things are looking up.  Prices have recovered, with the US benchmark of WTI now near $43…the highest since the Saudi-Russia price war that followed the onset of the COVID-19 pandemic.  The rig count has stabilized; the frac count is increasing.  Moreover, the economy is recovering, stimulus programs have been adopted and Interest rates are at record lows.

In the last big price collapse in 2015,

Read More

A Big Pension Sold Berkshire Hathaway and Bank of America. Here’s What It Bought.

angel may

Text size

One of Canada’s largest pension managers, Public Sector Pension Investment Board, sold Berkshire Hathaway and Bank of America stock in the second quarter. It bought Citigroup stock, and initiated a position in Virtu Financial.

Eric Frances/Getty Images

One of Canada’s largest pension managers made big changes in its U.S.-traded investments in the second quarter.

Public Sector Pension Investment Board sold

Bank of America

(ticker: BAC) and

Berkshire Hathaway

(BRKb) stock, bought


(C) stock, and initiated a position in

Virtu Financial

(VIRT). PSP, as the pension manager is known, disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.

PSP, which managed $129 billion as of March 31, declined to comment on the stock trades.

The pension manager halved its investment in Bank of America by selling 1.07 million shares to end the second quarter with 1.11 million shares of the banking

Read More

Could Big Ten winter football season result in TV money windfall? Q&A with sports law expert

angel may

The Big Ten is looking at up to $1 billion in lost revenue following its decision to cancel the fall football season due to the coronavirus pandemic, according to a recent NJ Advance Media analysis.

a man standing in front of a crowd: Rutgers coach Greg Schiano walks the sidelines during the second half of the NJSIAA South/Central, Group 2 Regional Championship football game between Cedar Creek and Hillside at Rutgers in Piscataway, NJ on 12/8/19. Hillside won 25-3.

© Chris Faytok | NJ Advance Media for Faytok | NJ Advance Media for
Rutgers coach Greg Schiano walks the sidelines during the second half of the NJSIAA South/Central, Group 2 Regional Championship football game between Cedar Creek and Hillside at Rutgers in Piscataway, NJ on 12/8/19. Hillside won 25-3.

A significant chunk of those projected losses? Media rights fees. Full-share Big Ten members were expected to receive about $55 million from network partners like FOX and ESPN for the 2020-21 academic year, and the bulk of that money is driven by football. It’s a nuclear scenario for the conference, as well as the broadcast partners who are now without some of their

Read More

Breakingviews – Ant’s big reveal is cost of financial disruption

angel may

Ant Financial CEO Eric Jing speaks during the Ant Financial event in Hong Kong, China November 1, 2016. REUTERS/Bobby Yip

HONG KONG (Reuters Breakingviews) – The Ant Group has vividly brought to life the cost of financial disruption. The Alibaba-backed company’s long-awaited initial public offering documents show its core consumer lending unit was hit by regulatory curbs in 2018, forcing it into a new, less risky, business model. The shift was profound, and Ant was fortunate to survive and thrive.

Tuesday’s trove of information offers a first look into Ant’s business, which Reuters says could be valued at over $200 billion. The company is best known for facilitating online payments but its lending business has become bigger in recent years: in the first half of 2020, the unit generated over $4 billion in sales, accounting for 40% of Ant’s top line. At the same time, the group’s overall profitability has

Read More

Another Day, Another NIO Stock Upgrade and Another Big Price Jump

angel may

Text size

STR/AFP via Getty Images

There is a pattern developing with electric-vehicle stocks. They go higher every day. At least that’s what it seems like.

Morgan Stanley analyst Tim Hsiao upgraded shares of Chinese electric-vehicle maker
(ticker: NIO) on Wednesday to the equivalent Buy from Hold and took his target price from $12 to $20.50 a share. The result? NIO stock jumped 17% to almost $21 share in afternoon trading. There appears to be no stopping the momentum.

The jump follows on Tuesday’s 19% rally, sparked by UBS analyst Paul Gong upgrading shares to Hold. Hold ratings aren’t a big deal, but Gong took his price target from $1 to $16 a share.

NIO shares are now up 46% for the week and 412% for the year. The stock’s 52-week low was $1.19 in October. Back then, investors were worried about cash burn and access to capital. NIO

Read More

Salesforce Reports Big Jump in Profits

angel may

Here’s what you need to know:

Salesforce, a maker of cloud software, saw surging revenue and profit in the second quarter as customers have increasingly turned to its tools in the coronavirus pandemic.

The San Francisco company’s revenue rose to $5.15 billion, up 29 percent from a year ago, driven by the demand for its customer-relations software and new tools, which help people return to work. Profit jumped to $2.6 billion, up from $91 million a year ago, helped by a change to its international corporate structure that created tax benefits.

On Monday, the S&P Dow Jones Indices said Salesforce would replace Exxon Mobil on the Dow Jones index at the end of the month.

Credit…Shannon Stapleton/Reuters

Nordstrom’s sales took a nosedive for a second

Read More

Big Money Focus

angel may

The week could have a volatile start and Venus, the money planet, could makes things rocky, reports Susan Gidel.

After a rough start to the week as Mars and Saturn square off on Monday, money planet Venus takes over the spotlight as it connects with three heavyweights—Jupiter, Neptune and Pluto—for a focus on big money and big debt.

The Mars/Saturn square on Monday is the first of three such meetings that extend into the new year, and it represents a restructuring of plans, restricted actions and general upset with the status quo. Each planet is in its ruling sign, so are strong in their convictions. Watch closely for news that represents this Mars/Saturn square-off, as it likely is the activity that will be reviewed at the second meeting on Sept. 29 and resolved at the third meeting on Jan.13, 2021.

Mars in Aries has the upper hand at this

Read More

Kenya: Detectives Probe Big Money Link in Kilimani Killing

angel may

Police in Nairobi are investigating a gold scam link to the fatal shooting of a man in Kilimani estate on Friday night.

Kevin Omwenga, 28, was shot at his apartment on the seventh floor of Galana Suites on Galana Road by a man described as a “bodyguard” one of his associates after an alleged dispute over the sharing proceeds of a successfully executed fake gold con game.

He was pronounced dead at the Nairobi Women’s Hospital where he was rushed after the shooting.

Detectives are looking at those who were with the deceased in his last moments, his dealings and associations in recent months and what sources say is a “sudden” change of lifestyle.

Mr Omwenga used to sell cars for a commission at a motor bazaar in Lavington between 2016 and last year, when his fortunes suddenly changed.

He quit the job and moved into a house at Galana

Read More