In the month of April, the U.S. economy lost a record 20.5 million payrolls and the unemployment rate jumped to 14.7%. Yahoo Finance's Alexis Christoforous and Brian Sozzi break down the report with Matthew Luzzetti, Deutsche Bank Chief U.S. Economist. ...
Some investors might look past Penn National Gaming (NASDAQ:PENN) at this point. After a post-earnings pop Thursday, PENN stock now has rallied nearly 400% from March lows. Meanwhile, near-term pressure from the novel coronavirus on the gaming industry seems likely to be intense.Source: Casimiro PT / Shutterstock.com From a long-term perspective, however, I believe that would be a mistake. I've recommended Penn National since it traded below $10 at the beginning of last month. At $18, I still believe the stock is a winner.After all, we're seeing the country, thankfully, begin the process of returning to normalcy. At some point, that will include the casino business.InvestorPlace - Stock Market News, Stock Advice & Trading TipsMeanwhile, Penn has a huge opportunity in sports betting and online gambling. And the same heavily leveraged balance sheet that helped drive a 90% decline in a matter of weeks in March can amplify upside going forward.Certainly,...
Does history repeat? Many of us, no doubt, remember the crash of the doc.com bubble back in 2000, and at least one analyst sees that pattern repeating before our eyes. Will Meade, who built his reputation in stock analysis with Goldman Sachs, believes that the current rally is only temporary, and that the markets are likely to fall again in 2H20 – by as much as 40%.Meade points that, like in 2000, we have the risk and uncertainty of a Presidential election coming up, and then adds, “The NASDAQ in 2000 did a similar bear market bounce as stocks this year — dropped 40%, then bounced 42% off the bottom retracing 61.8% of its drop. It stalled then fell 43%, making a new low four months later.” If Meade is right, then the true market bottom is due to hit us in late July or early September.The analyst is not all...
Retailers that were already ailing before the coronavirus are beginning to crumble as the crisis raises the threat of store closings and bankruptcy....
Click here to read the full article. Traditional cable and satellite TV providers posted their most massive quarterly subscriber losses in the first three months of 2020, as the COVID-19 tornado started to hit the U.S. economy in March. What's more, internet-delivered "virtual" TV providers registered a net loss in the period, too.And the cord-cutting bleeding is only going to get worse in Q2, as the economic fallout from the coronavirus takes a deeper bite, analysts predict.The combination of high prices -- amid the backdrop of record unemployment -- as well as loss of live sports fueled an overall drop of 1.8 million pay-TV subscribers in Q1, per estimates by Wall Street analyst firm MoffettNathanson. That translates into an annual rate of decline of 7.6%, the fastest shrinkage of the sector on record."At 63% of occupied households, traditional pay TV penetration has reached a level not previously seen since roughly 1995,"...
Nvidia (NASDAQ:NVDA) is one of the few that is near its all-time highs, NVDA stock has added more than 25% so far this year. And to keep up the growth, CEO Jensen Huang has been doing something that is fairly different for his company: acquisitions.Source: michelmond / Shutterstock.com There are clear benefits to the strategy. First of all, the technology creation process can take too long and this could mean missing out on big-time opportunities. Next, without acquisitions, there is the potential danger that the culture will get too insular. What's more, M&A can expand the monetization opportunities and result in a more robust customer base.OK then, so let's take a look at the deal for Mellanox Technologies -- which should be a nice driver for NVDA stock. It's actually the biggest acquisition in the company's history, at about $6.9 billion.InvestorPlace - Stock Market News, Stock Advice & Trading Tips NVDA...
