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Earnings season is almost in full swing — and a range of notable names are lined up to report results. One worth watching is none other than Amazon (AMZN), which will post its quarterly figures on Thursday, July 23. The stakes are high for the e-commerce giant, as its stock has been soaring over 60% so far this year. Can the company’s latest results live up to expectations? Cowen analyst John Blackledge expects Amazon to march on defiantly when it reports 2Q earnings on July 23.“We expect strong 2Q20 results with Revenue & Operating Income above high end of guide range. Key revenue drivers include AWS, Advertising, Subscription, & accelerating eCom growth (+29% year-over-year vs. +17% year-over-year in 2Q19) given continued COVID-19 demand surge. Our 2Q20 Operating Income forecast is driven by AWS, Ad biz & 3P mix shift offset by COVID investments,” Blackledge said.And that’s not really much of a...
The billionaire says it's a good time to borrow. Maybe it's time for a new mortgage....
Business Insider had earlier reported that the company cut under 1,000 jobs across its business this week. The company cut roles at its online news portal MSN.com, as it shifted to an AI-powered algorithmic feed, according to the report, which added that jobs were also cut in the Microsoft Azure cloud division. Late last month, Microsoft said it would close its retail stores and take a related pre-tax asset impairment charge of $450 million amid the ongoing coronavirus outbreak....
DraftKings (DKNG) has been one of Wall Street’s biggest standouts of 2020, with shares skyrocketing over 230%. The biggest question for investors, then, is whether those gains are likely to continue. Rosenblatt analyst Bernie McTernan came out with an answer.McTernan “continues to be bullish on DKNG,” after recent data pointed to positive trends in the online gaming space. The analyst believes “investors should use the recent pullback in shares, likely related to near-term uncertainty of sports returning, as a buying opportunity, especially for those with long-term time horizons.”iGaming momentum in New Jersey, the primary established sports betting market in the US, is showing no signs of slowing down. In June, industry revenue increased by 123%, mirroring April and May’s growth. However, the growth at Resorts Digital, which includes DraftKings, has outpaced the industry. Compared to April and May when it grew at the same rate, revenue was up by 148% in June.Despite...
(Bloomberg) -- Less than a month after emerging from bankruptcy triggered by a string of devastating wildfires in 2017 and 2018, PG&E Corp. has now been found responsible for California’s biggest blaze of 2019.The California energy giant’s power lines sparked the Kincade fire which burned 77,758 acres and destroyed 374 structures in Sonoma County wine country, the California Department of Forestry and Fire Protection, said Thursday.Investigators have sent a report on the incident to the Sonoma County District Attorney’s Office, only a month after PG&E pleaded guilty to 84 counts of involuntary manslaughter for a 2018 conflagration that was the most deadly in state history.Brandon Gilbert, an assistant to Sonoma County District Attorney Jill Ravitch, didn’t immediately respond to an email and phone call seeking comment. PG&E didn’t immediately respond to a request for comment.PG&E’s equipment was long suspected of causing the Kincade fire that started on October 23, as the...
The tech surge has appeared limp lately, with hints a possible trend reversal might be on the way. But Apple (AAPL) stock is having none of it – yet. Along with the share price reaching new milestones on an almost daily basis, the giant from Cupertino is rewarded with another boost from Wall Street’s analyst corps.Joining the fray, Merrill Lynch analyst Wamsi Mohan bumped up his price target for Apple from $390 to $410, implying modest potential upside of 6% from current levels. No change to Mohan’s rating, which remains a Buy. (To watch Mohan’s track record, click here)So, why amid a pandemic, which has resulted in a contracting economy and high unemployment rates, does Apple’s share price keep soaring? On a fundamental level, Mohan believes several “improving trends” are helping to fuel the surge.Among these Mohan counts “continued strong App store revenue growth.” Based on third part data, in fiscal...
