Wipro Drops Most Since April, Analysts Await Broader Recovery

(Bloomberg) — Shares of Wipro Ltd. slipped the most intraday in six months after its quarterly profit missed estimates, with some analysts saying they want to see more evidence of business recovery under the new leadership.

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The software exporter posted July-September net income of 24.7 billion rupees on Tuesday, down 3.1% on-year and below an estimate of 25.2 billion rupees in a Bloomberg survey. The company also said it will spend as much as 95 billion rupees ($1.3 billion) buying back its shares at 400 rupees each.

Wipro’s stock slumped as much as 6.9% and was the worst performer on the benchmark NSE Nifty 50 Index on Wednesday. Investec, Antique Stock Broking and Spark Capital Advisors were among brokers that downgraded the stock.

“We await further evidence of execution of Wipro’s refreshed strategy and a successful turnaround from its growth struggles over the last decade before turning more

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Relays Global Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery

NEW YORK, Oct. 12, 2020 /PRNewswire/ — Relays Global Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery provides the strategists, marketers and senior management with the critical information they need to assess the global relays market.

Read the full report: https://www.reportlinker.com/p05976751/?utm_source=PRN

Description:
Where is the largest and fastest growing market for the relays market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global relays market opportunities and strategies to 2030 report answers all these questions and many more.

The report covers the following chapters
• Executive Summary – The executive summary section of the report gives a brief overview and summary of the report
• Report Structure – This section gives the structure of the report and the information covered in the various sections.
• Introduction – The introduction section of the

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Electronic Products Global Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery

NEW YORK, Oct. 12, 2020 /PRNewswire/ —

Electronic Products Global Market Opportunities And Strategies To 2030: COVID-19 Impact and Recovery provides the strategists, marketers and senior management with the critical information they need to assess the global electronic products market.

Read the full report: https://www.reportlinker.com/p05976746/?utm_source=PRN

Description:
Where is the largest and fastest growing market for the electronic products market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global electronic products global market opportunities and strategies to 2030: COVID-19 impact and recovery answers all these questions and many more.

The report covers the following chapters

Executive Summary – The executive summary section of the report gives a brief overview and summary of the report
Report Structure – This section gives the structure of the report and the information covered in the various sections.
Introduction –

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Visa: Continuing Recovery Brings Double-Digit Annualised Return (NYSE:V)

Introduction

We review Visa (V) (Buy-rated in our coverage) ahead of FY20 results on October 28, referencing last quarter’s results, recent volume data and management comments.

Since our initial Buy rating in June 2019, Visa shares have returned 25.3% (including dividends), slightly ahead of the S&P 500, behind Mastercard (MA) (Buy-rated) and PayPal (PYPL) (also Buy-rated), but far ahead of American Express (AXP) (Neutral-rated):

Stable Year-on-Year Volume Trends

The last set of Visa volume data was for August, which showed stable year-on-year trends in U.S. payments, with a 7% year-on-year growth (8% in July):

Debit card volume continues to lead the recovery, partly due to consumers using their debit cards in purchases that were previously made with cash withdrawn from ATMs. The year-on-year decline in Card Present decelerated slightly in late August, but volume was still down high-single-digits. Card Not Present (Excluding Travel) volume remained at 30% higher year-on-year.

Outside

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The Week in Business: The Recovery Hits a Wall

If, like me, you’re deeply anxious about Tuesday’s presidential debate, here’s a distraction: all the business and tech news you need to know for the week ahead. Enjoy the rest of your Sunday. — Charlotte Cowles

It’s been a month of constant drama for the Chinese video app TikTok, which remains mired in tensions between Washington and Beijing. First, TikTok succeeded in pushing off a ban in the United States — temporarily — by agreeing to sell a portion of its U.S. operations to two American companies, Oracle and Walmart. President Trump “blessed” the deal on Sept. 19, but then reversed course on Monday when it became clear that no one was on the same page. TikTok’s parent company, ByteDance, said it would retain a majority stake in the app, disputing Mr. Trump’s demand that it cede all control. Adding even more confusion, the

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Fiscal drag, viral carousel, and another stalled week in U.S. recovery

WASHINGTON (Reuters) – U.S. hiring last week remained sluggish, retail foot traffic dipped, and a surge in coronavirus cases across the Upper Midwest even dented what had been a carefree rush back to restaurants.

FILE PHOTO: U.S. National Guard members standby outside the Wisconsin State Fair exposition center where the U.S. Army Corps of Engineers had previously built a field hospital which will be activated to treat COVID-19 patients after the state saw a surge in cases, in West Allis, Wisconsin, U.S., October 7, 2020. REUTERS/Alex Wroblewski

The outbreaks in states like South Dakota, Montana and Wisconsin are the latest in the country’s carousel battle with the pandemic as hotspots rotate from one region to another, preventing any broad recovery of confidence or the economy.

Since an early summer jump in U.S. economic activity, data across a broad set of high-frequency indicators has shown little evidence of the sort of

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Whole Foods footfall recovery is far slower than Walmart, Kroger, Aldi

  • Whole Foods had 21% fewer visitors across its stores on October 4 compared to the same day last year, according to data by placer.ai.
  • Shopper traffic is bouncing back much faster at other grocers – it was only down 2% at Kroger’s.
  • Part of this is because Whole Foods normally gets a lot of lunchtime trade from office workers, who are now working from home, a spokesperson said.
  • Sales of packaged goods, like sandwiches and salads, has fallen 75%.
  • A Whole Foods spokesperson told Business Insider the company “is healthy and continues to grow,” and has opened 10 new stores in 2020.
  • Visit Business Insider’s homepage for more stories.

For every five in-store shoppers Whole Foods Markets had last October, it now only has four, new data suggests. 

The supermarket chain had 21% fewer visitors across its stores on October 4 compared to the same day last year, according to

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