Stocks closed out Friday’s session sharply lower after Texas and Florida reversed their reopening processes and closed bars and limited restaurant capacity following surges in coronavirus cases. Each of the three major indices fell more than 2%, and the S&P 500 dropped to its lowest level in two weeks....
(Bloomberg) -- At record highs on Tuesday, the popular group of megacap tech stocks known as the Fangs is ending the week with the worst plunge since the depths of the Covid crash.While intermittent stumbles have been a regular feature of the broad market during the recovery phase, ones involving its core constituency of the biggest online companies have been all but unheard of. The group’s automated, algorithmic, stay-at-home moat has insulated them from day-to-day ups and downs, making them a central holding of hedge funds and other institutions who have shied away from retail favorites in the airline and hospitality industries.Combined, Facebook, Amazon.com, Netflix and Alphabet alone make up more than a 10th of the S&P 500 and near a quarter of the Nasdaq 100. Add in Apple and Microsoft -- which are often grouped together to create the FANMAG stocks -- and their weightings increase to 22% and 48%,...
Daniel Griffith, The Huntington Private Bank Senior Vice President and Director of Wealth Strategy, joins The Final Round highlighting the changes in legislation that are impacting retirement planning....
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]...
(Bloomberg) -- Boeing Co. and federal regulators are preparing to hold a critical set of test flights on the 737 Max early next week, and laying plans for other milestones toward ending the jetliner’s 15-month grounding including convening a panel of pilots to go over a proposed training course.Aviation industry officials briefed on the plans, which still haven’t been finalized, said that the U.S. Federal Aviation Administration has reviewed Boeing’s safety analysis of fixes it has made and is comfortable moving to the next step: putting the plane through its paces with test pilots.The first of several days of test flights could come as early as Monday, according to three people familiar with the plans who weren’t permitted to discuss the still-tentative situation publicly. Boeing had privately targeted hosting the FAA flights by the end of June.“The team is making progress toward FAA certification flights in the near future,” the agency...
This week, the cannabis news world was somewhat dominated by Canopy Growth Corp (NYSE: CGC).The Smiths Falls, Ontario-based company hosted a virtual investor meeting to discuss the COVID-19 impact and business strategies. It also tweaked its previously announced capital agreement with Acreage Holdings Inc. (OTC: ACRGF).The amended arrangement provides for up-front cash payment to Acreage shareholders and certain convertible security holders in the amount of $37.5 million.Canopy's stock lost about 8% of its value this week.BofA Securities analyst Bryan Spillane reiterated a Buy rating and CA$30 ($21.70) price target for Canopy. Cantor Fitzgerald analyst Pablo Zuanic maintained a Neutral rating on Acreage Holdings and raised the price target from $2.30 to $2.90; Zuanic has a Neutral rating and CA$25.50 price target for Canopy."It's amazing how quickly the Acreage Holdings and Canopy Growth unraveled. While the acquisition is still planned, the price was dropped dramatically from $3.4 billion to roughly $37 million....
