Like most stocks in this market, Coca-Cola Company (KO) stock has been hit hard by the COVID-19 pandemic. From the market peak in late February through its nadir in late march, Coca-Cola shares lost about 38% of their value. The next three weeks -- through Tuesday's close -- saw Coke shares make up about half of those losses.Still the stock is down 18% from its February 21 high. Does this make Coke stock a buy?Investment bank HSBC thinks so. In a recent report to clients, HSBC analyst Carlos Laboy argues that Coca-Cola stock is undervalued at its present price of just under $49 a share, and should fetch a price closer to $53 within a year -- assuming a few conditions are met. (To watch Laboy's track record, click here)For one thing, Laboy notes that over the past three years, Coca-Cola's profits, and its growth rate, have been bolstered by a...
A viral photo of Jim Cramer was shared across social media outlets recently and the "Mad Money" host said Tuesday he agrees it's "messed up."What Happened The viral photo consists of a screenshot from the April 9 edition of "Mad Money" with a screen in the background stating: "The Dow's best week since 1938" while a newsflash on the bottom of the screen states "More than 16M Americans have lost jobs in 3 weeks."> Everything that is wrong with America, in one image. pic.twitter.com/ugrft95bAv> > -- Justin (@JustinAHorwitz) April 9, 2020There is a technical definition to explain what appears to be a colliding world of differences, Cramer said. The Dow Jones is composed of the biggest companies and void of the small and medium-sized businesses where most of the job losses are taking place."You don't have to like it -- I know I don't," Cramer said. "But it's the big dogs...
(Bloomberg) -- U.S. airlines climbed after reaching preliminary deals to access billions of dollars in federal aid, securing a temporary lifeline as the industry waits for customers to start flying again.The agreements cover all major airlines, the Treasury Department said in a statement Tuesday, and position the government to start doling out $25 billion in assistance allocated for passenger carriers in the $2.2 trillion stimulus package signed into law March 27. American Airlines Group Inc. said it would get $5.8 billion in support, while Delta Air Lines Inc. said it would receive $5.4 billion.“This is an essential step, but just one of many that will get us through the next several months,” Delta Chief Executive Officer Ed Bastian said in a message to employees. “The funding, along with self-help measures we have taken, will prevent furloughs and pay rate reductions through the end of September, despite the 95% drop we’ve seen...
Earnings per share fell to $3.11 from $5.71 a year earlier. "Our quarterly profitability was inevitably affected by the economic dislocation," said Goldman Chief Executive Officer David Solomon. Under Solomon, Goldman has been attempting to reduce its reliance on its flagship trading business and build out its consumer bank, although trading made a comeback this quarter....
