(Bloomberg) -- U.S. stocks are likely to see new lows if VIX patterns from yesteryear hold sway, according to Bank of America Corp.The current bear-market rally most closely resembles what occurred in 2008, and suggests there’s limited further upside before a turn that drags the S&P 500 to fresh lows, strategists led by Benjamin Bowler wrote in a note Tuesday. They drew that conclusion by measuring from the peak of volatility in the three most recent major sell-offs and comparing those with the present one.Volatility markets are “underpricing the risk of a secondary market shock,” they wrote.If the S&P 500, which is up about 15% since the March 16 peak in the VIX, continues to trade in line with the 2008-09 bear-market rally, it would top out around 2,960 as the economic impact of this crisis get priced in, according to the report.In the three previous big sell-offs -- 1987, 2002...
Revenue, which Snap earns mainly by selling advertising on the app, increased 44% from a year earlier to $462.47 million. Direct response advertising is now more than half of Snap's total revenue. Small and medium-sized businesses have been hard-hit during the pandemic, but represent a smaller portion of Snap's direct response ad business, which has helped protect revenue, said Jeremi Gorman, Snap's chief business officer, on the earnings call....
(Bloomberg) -- Activist investor ValueAct Capital has built about a $1.1 billion stake in Nintendo Co., betting the company behind Mario and Zelda could become one of the world’s largest digital media empires.The fund said it’s bought 2.6 million shares, equivalent to just over 2% of the company and valued at around 119.6 trillion yen ($1.1 billion) based on Tuesday’s close. It’s held discussions with Nintendo’s management about long-term strategy, ValueAct said in a statement without disclosing price or other details.Nintendo has built a global following with hit franchises from Mario Bros. to the Legend of Zelda. But it’s struggled in past years to take advantage of the global smartphone gaming boom, and it’s yet to communicate a clear strategy for competing in the online sphere against the likes of Sony Corp. or Microsoft Corp. While its Animal Crossing has become the breakout hit of the Covid-19 era, fueling sales of...
Learn how to better manage employees during the pandemic, how to handle anxiety and grief, and how to "get creative" with technology to keep the fleet team informed and connected. ...
Transflo has expanded its Electronic Bill of Lading and Electronic Proof of Delivery offerings with the improved document digitization and data exchanging for the supply chain. ...
Wynn Resorts (NASDAQ:WYNN) announces its first quarter results on May 7, and analysts don't know what to think about WYNN stock.Source: Wangkun Jia / Shutterstock.com The quarter started with a lockdown in China. It ended with one spreading in the U.S. For now, all analysts can do is guess.One analyst thinks the casino company drew revenues of $1.76 billion and will bring in $1.84 billion during the June quarter as gambling returns. Another sees $675 million in revenue this quarter and a fall to $217 million next quarter. The consensus revenue number for March is $1.28 billion.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOf 17 analysts following Wynn at Yahoo Finance, nine say hold it, eight say buy. Those at Tipranks are more optimistic. They see the stock rising to almost $120 in a year, from its April 21 opening of $73. Most say buy. Buy Wynn Stock Now?The...
