On Friday, Rosenblatt analysts led by Mark Zgutowicz raised their price target on shares of Spotify from $190 to $275 while keeping their ‘buy’ rating, as the firm sees ‘attractive monetization potential’ from recent exclusive deals. These include The Ringer, The Joe Rogan Experience, and most recently, Kim Kardashian West’s The Innocence Project and Warner Bros./DC Entertainment. The Final Round panel discusses. ...
(Bloomberg) -- Oil turned around last week’s setback, extending a slow but relentless rise since falling into negative territory in April.U.S. benchmark crude futures rose 2.3% Friday to close at the highest level since March 6. The 9.6% increase for the week marks the seventh gain in the last eight weeks. Oil traders Vitol Group and Trafigura Group and exporter Saudi Aramco all talked up the strength of the demand recovery in recent days, and prices for some of the world’s major oil products have begun to roar higher. OPEC+ gave reassurance on output cuts on Thursday.“You had three key ingredients making the market climb this week,” said Thomas Finlon of Houston-based GF International. A drop in U.S. refined product inventories, OPEC compliance and falling crude inventories at Cushing, Oklahoma, all contributed to the price strength, he said.Inventories in Cushing, the delivery point for West Texas Intermediate futures, have contracted every...
Stocks ended mixed on Friday as investors weighed rising coronavirus cases in key U.S. states against optimism about a quick economic rebound. Overall, investors were rattled by the news that Apple would temporarily shutter stores again in U.S. states where coronavirus cases have been on the rise in recent weeks. The Final Round panel breaks down the details. ...
(Bloomberg) -- A group of banks led by Goldman Sachs Group Inc. may launch a $5 billion debt offering for United Airlines Holdings Inc. as soon as Monday, according to people with knowledge of the matter.Goldman Sachs has started discussions with investors to gauge their level of interest, said the people, who asked not to be named because the talks are private. Early unofficial pricing discussions for a bond that could have a maturity of seven or eight years are for a yield of about 7%, the people said.United is tapping its frequent-flyer program for the deal, the company’s biggest debt sale since the pandemic. The offering may also include leveraged loans and the debt could have one investment-grade rating, Bloomberg previously reported. Talks on the terms of the offering are preliminary and could change, the people said. Representatives for Goldman Sachs and United declined to comment.Goldman, Barclays Plc and Morgan...
(Bloomberg) -- Sustainable investing is exploding in Canada as the coronavirus and an anti-racism movement highlight long-standing social inequalities.Net inflows into Canadian exchange-traded funds that track companies focusing on environmental, social and governance factors has surged to C$740 million ($544 million). That has already outstripped the C$200 million invested in 2018 and the C$142 million last year, excluding seed capital, according to TD Securities Inc. With 15 new ESG products launched in Canada this year, investors now have 38 ETFs focused on impact investing to choose from.“In a time where the conscious investor is experiencing and observing a great deal of social and economic change, funds that provide exposure to companies that are aware of the environmental, social, and governance impact of their businesses have increased in popularity,” said TD analyst Andres Rincon.Covid-19 has hit the weakest and lowest-paid the hardest, and investors are taking a closer look at how companies...
