Cross-related business trends of one company often help other companies in their food chain. This definitely can be true in the world of retail and apparel, particularly in an age in which the retail apocalypse seems to have been sped up by years thanks to COVID-19.
According to BofA Securities, Foot Locker Inc. (NYSE: FL) should see its recovery continue. The firm raised its rating in a two-notch upgrade to Buy from Underperform and it lifted its price objective to $50 from $20. If the firm’s Robert F. Ohmes and Alexander Perry are correct, then Foot Locker just went from having over 40% potential downside to having almost 35% in potential total return upside, if its dividend is included.
NEW YORK — Stocks marched higher again on Monday, as Wall Street extended its gains from last week’s rally, the market’s best in three months.
The S&P 500 rose 1.6%, following up on strengthening in stock markets around the world. Big Tech stocks, including Apple and Microsoft, powered much of the gains. Their businesses have proven to be practically impervious to the pandemic, unlike companies that would benefit from a strengthening economy.
The market’s latest upward push came as Wall Street appeared to largely shrug off the latest signs that Democrats and Republicans are no closer to reaching a deal on more aid for the economy, which remains hobbled by the pandemic. Over the weekend, Democratic House Speaker Nancy Pelosi criticized the latest offer from the Trump administration on a stimulus package as “one step forward, two steps back,” while the president’s fellow Republicans called it too expensive.
Leaves are changing colors, temperatures are dropping and, for those currently commuting beyond bed-to-home-office, daylight drive times are lessening as darkness arrives earlier and earlier. It’s fall!
This is traditionally the season chockfull of superficial banter separating those with and without a penchant for all that is pumpkin spice. Remember those days? Those lighthearted days? Seems like a lifetime ago.
Hamilton’s King George sings, “What comes next?” We know it may be hard things. On college campuses what comes next could very well mean quarantines, persistent feelings of isolation and disconnectedness, early closures, overnight shifts to all virtual and, as is always possible during Covid-19, much, much worse. Those are the hardest things.
There are certainly other difficult things for leaders to think about as they are equally important. Also entirely manageable if we work on them together.
Stocks rose on Friday to end their best week in months as President Donald Trump signaled support for a bigger coronavirus aid package.
The Dow Jones Industrial Average closed 161.39 points higher, or 0.6%, at 28,586.90. The S&P 500 gained climbed 0.9% to 3,477.13. The Nasdaq Composite advanced 1.4% to close at 11,579.94.
Microsoft and Salesforce led the Dow higher, rising 2.5% and 2.2%, respectively. Consumer discretionary and tech were the best-performing S&P 500 sectors, advancing more than 1% each.
For the week, the Dow jumped 3.3% and posted its biggest one-week gain since August. The S&P 500 and Nasdaq were up 3.8% and 4.6%, respectively, for the week. Both benchmarks had their best weekly performance since early July.
Trump tweeted on Friday that “Covid Relief Negotiations are moving along. Go Big!”
CNBC’s Ylan Mui reported the administration has raised its offer for a new aid package to $1.8 trillion
(Reuters) – U.S. stocks ended higher on Thursday as comments by U.S. President Donald Trump fueled hopes of fresh fiscal support, while data underscored the view that the labor market recovery was struggling to gain momentum.
Two days after calling off negotiations on a comprehensive bill, Trump in an interview with Fox News said talks with Congress have restarted over further COVID-19 relief and that there was a good chance a deal could be reached. But he gave no other details about a possible agreement.
While late afternoon trading was choppy, indexes added to gains after a White House spokeswoman said Trump wanted a “skinny” coronavirus relief bill.
House of Representatives Speaker Nancy Pelosi said legislation to help airlines was a matter of national security and could only move through Congress with guarantees of work continuing on the comprehensive deal.
The Dow Jones airlines index .DJUSAR jumped 1.6%, extending recent
(Reuters) – Ladbrokes and bwin owner GVC Holdings GVC.L on Thursday raised its outlook for annual core earnings after posting a 12% rise in third-quarter revenue, helped by a surge in online gaming and as sports events such as the English Premier League resumed.
The company, which owns brands such as Coral and Eurobet, said full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) is now expected between 770 million and 790 million pounds.
GVC had previously forecast annual EBITDA to be between 720 million pounds and 740 million pounds, and last week warned that new gambling rules in Germany, its second-largest online-gaming market, would reduce 2021 profit by 70 million pounds.
However, the company is steaming ahead as it also announced the acquisition of Bet.pt, an online gambling operator in Portugal.