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The Schork Report Editor Stephen Schork joins Yahoo Finance’s Zack Guzman to discuss the latest outlook for oil and gas ahead of the upcoming OPEC+ meeting....
Mall owner giant Simon Property Group Inc (NYSE: SPG) is suing retailer Gap Inc (NYSE: GPS) over unpaid rent and other expenses, The Wall Street Journal reported on Thursday.What HappenedSimon is taking Gap to court as the retailer failed to pay its rent for April, May and June, according to WSJ. Simon is also requesting the court force Gap to pay its attorney fees and other expenses.Simon said in the complaint the requirement that Gap and its entities "timely pay rent due under the leases has not been excused."Gap previously said in April it can't pay rent because of its cash flow problems brought on by the COVID-1 pandemic.Why It's ImportantGap CFO Katrina O'Connell said in its first-quarter conference call on Thursday it's "knee deep with all the landlords today." The executive said it's "very hard" to offer any timeline, although it's looking for ways to "partners with our landlords to...
We’re in perplexing times. At this writing, the S&P 500 index stands at 3,201, just 5.5% below its all-time high. That high, reached back in February, came the day before the bottom fell out of the stock market, as the coronavirus crisis triggered the steepest, deepest – and fastest – stock market drop on record. And now we are in the midst of a prolonged bull-rally, as the markets have been trending upwards since bottoming out on March 23.What’s an investor to do? The natural inclination during a bear market is to defend the portfolio and make conservative plays toward defensive dividend stocks, while the inclination during a rally is to go with the winners and stake positions in the stocks that are climbing most rapidly. The two strategies don’t often overlap, and the future remains clouded even though sentiment is high for now.At Wells Fargo, strategist Christopher Harvey believes that...
Ever since the novel coronavirus began sending unemployment figures into almost comical record heights, observers have commented about a severe disconnect between Wall Street valuations and the tears of Main Street. Perhaps few industries reflect this discordant reality than cruise ship operators. Take Royal Caribbean Cruises (NYSE:RCL) as an example, where RCL stock has more than doubled off its March lows.Source: Laszlo Halasi / Shutterstock.com It's not just Royal Caribbean. Rivals such as Carnival (NYSE:CCL) and Norwegian Cruise Line (NYSE:NCLH) have likewise jumped from the doldrums. Furthermore, this bullish narrative isn't entirely without justification. After having been quarantined at home for months in many cases, millions of Americans are apparently ready to reclaim their lives.Primarily, Memorial Day weekend drew big crowds. Additionally, Las Vegas began the process of reopening to much fanfare. Visitors and locals flocked to the casinos, many ignoring mitigation protocols such as wearing masks and social distancing. While...
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]...
