It’s no great secret that cruise line stocks have been some of the biggest victims of the COVID-19 pandemic.From a mid-January high near $52 a share, Carnival Corporation (CCL) stock lost nearly 82% of its value through mid-March! Royal Caribbean (RCL) was about as hard-hit, falling 83% the same time period. And Norwegian Cruise Line (NCLH), perceived to be the weakest of the three big publicly-traded cruisers, lost a staggering 87%.More than just victims of consumers unable to cruise because they were stuck at home under stay-at-home orders, or unable to serve patrons because individual state governments had told them to close their doors, cruise lines were actually forbidden to do what they do — cruise — by order of the federal government, and subjected to a blanket “no sail” order from the U.S. Centers for Disease Control (CDC), instructing them not to leave port before late July.And yet, as state...
(Bloomberg) -- JD.com Inc. soared about 6% in its Thursday debut in Hong Kong, a solid start that underscores strong investor appetite for a growing line-up of Chinese tech giants seeking to list closer to home.The Chinese online retailer, which already has stock listed in the U.S., opened at HK$239 after raising $3.9 billion in its Hong Kong share sale. That’s after its shares changed hands in gray markets at a roughly 5% premium to its HK$226 listing price in the days prior.JD debuts as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, particularly after once high-flying Luckin Coffee Inc. crashed amid an accounting scandal. It’s a victory for Hong Kong, coming on the heels of Alibaba Group Holding Ltd.’s $13 billion share sale and the passing of a national security law that critics fear could jeopardize its status as a financial hub. Fellow...
Some good news just came Apple’s (AAPL) way. According to Wedbush analyst Daniel Ives, there finally appears to be some clarity regarding the highly anticipated launch of Apple’s flagship product, the iPhone 12 – its first to boast 5G capabilities.“While we were hearing of some delays over the past few months that would have pushed this key product cycle into the October/November timeframe, we now believe the iPhone 12 will be in late September with the smartphones ready to hit the shelves globally in early October,” said Ives.Ives was previously under the impression Apple was likely to push the launch back to the holiday period, on account of COVID-19’s impact on the global supply chain and the resultant depressed economic climate.However, the supply chain’s “impressive” return to normalization paves the way for Cook & Co. to kick off the 5G cycle as previously planned.Ives believes “there are 4 models being launched...
For those that thought the extreme market volatility was behind us, think again. Last week, another burst of volatility was brought on by concerns about the U.S. economic recovery and a second wave of COVID-19. This week, however, U.S. stocks recovered some lost ground thanks to strong retail sales data. There's a lot going on in the markets, and the only certainty is uncertainty.Against this backdrop, we turned our attention to defensive stocks in the healthcare sector. In general, these stocks provide stable earnings regardless of the stock market’s state due to the constant demand for their products or services.With this in mind, we used TipRanks’ database to identify three defensive healthcare stocks with upside potential north of 20%. Not to mention each of these companies has earned a “Strong Buy” consensus rating from the analyst community.Deciphera Pharmaceuticals (DCPH)We will start with Deciphera, a biopharmaceutical company which develops cancer medications. On...
Chris Rupkey, Chief Financial Economist at MUFG, joined Yahoo Finance's The Final Round to discuss his outlook for the economy and the latest housing permit numbers. ...
Lili, an all-in-one-banking app designed for freelance workers, recently announced that it raised a $10M seed funding round, which was led by Group 11, with major participation from Foundation Capital, AltaIR Capital, Primary Venture Partners and Torch Capital. Founder and CEO Lilac Bar David discusses what’s next for her company, as well as the future of digital banking. ...
