PayPal (PYPL) is scheduled to announce Q1 earnings results today after market close. Going into the print the Street is looking for EPS of $0.75 (-3.8% Y/Y) and revenue of $4.72B (+14.3% Y/Y).However, RBC Capital analyst Daniel Perlin believes these estimates may prove too optimistic. “Based on our prior work and what we learned intra-quarter, we believe there is downside risk to both our and the Street’s revenue and EPS estimates given the evolving impacts from COVID-19” he writes.The analyst has a buy rating on the stock with a $120 price target- indicating that shares could pullback by just over 4%. He is expecting revenue of $4,758M, EPS of $0.76, and EBITDA of $1,262M. That’s alongside TPV (total payment volume) of $192,418M- significantly below the Street’s expected $196,369M.“We are forecasting TPV of ~$192B (19% y/y growth), a slight deceleration from the year- ago quarter, as we expect impacts from COVID-19 began showing up in its...
(Bloomberg) -- Oil’s rally resumed -- after prices doubled over five days -- amid optimism that output cuts are easing a huge supply glut and demand losses have bottomed.Futures in New York rose above $25 a barrel after earlier breaking above their 50-day moving average for the first time since January. Russian oil production was down 16% in the first five days of May, Interfax reported, while Plains All American Pipeline LP sees close to 1 million barrels a day of Permian shut-ins in May. Output in North Dakota was down by 450,000 barrels a day, according to state data, though some shale drillers said they may restart output if prices rose above $30 a barrel.OPEC+ began implementing 9.7 million barrels per day of production curbs on May 1, which along with some early signs of demand recovery has helped to ease fears the world will run out of storage space...
