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10:55 a.m. June 24, 2020 - Barrons.com
Caterpillar Stock on Track for 30% Gain, Analyst Says Investors who can see past the cyclical nature of this industrial business have the opportunity to add a high-quality stock to their portfolios at a historically cheap price.
10:05 a.m. June 24, 2020 - By Andrea Riquier
Canadian ETFs lose ground as Fitch cuts sovereign ratingExchange-traded funds made up of Canadian securities slumped Wednesday in the wake of a sovereign debt downgrade. Fitch Ratings on Wednesday cut the country's rating to AA+ from AAA, citing "deterioration of Canada's public finances in 2020 resulting from the coronavirus pandemic." The ratings agency noted that Canada will run a much larger general government deficit in 2020 and emerge from recession with much higher public debt ratios. The iShares MSCI Canada ETF was 2.2% lower in the early afternoon, as was the JPMorgan BetaBuilders Canada ETF .
8:59 a.m. June 12, 2020 - By Jillian Berman
‘Higher education essentially preserves intergenerational racial and class inequality’: How coronavirus could make it worse With colleges squeezed for revenue, persistent problems are likely to continueWith colleges squeezed for revenue, persistent problems are likely to continue.
8:40 a.m. June 11, 2020 - Barrons.com
Airline Stocks Are Sliding Because Delta’s Debt Looks Dicier Investors appear to be growing nervous that airlines are adding to debt loads without seeing enough of a recovery in revenue.
4:55 a.m. June 5, 2020 - By Steve Goldstein
This contrarian strategist recommends chasing bears in these hard-hit sectorsOne strategist explains why he likes the sectors that bearish investors are betting against.
5:51 p.m. May 27, 2020 - Barrons.com
Morgan Stanley’s List of 22 Stocks That You Really Shouldn’t Buy The bank listed the companies in a report titled “Secularly Challenged Stocks.”
3:51 p.m. May 26, 2020 - MarketWatch
Macy's launches bond sale seeking $1.1 billionDepartment store operator Macy's Inc. launched a funding round offering $1.1 billion in bonds to get the struggling retailer through the lockdowns enforced during the coronavirus pandemic. New York-based Macy's Tuesday said it plans to use the proceeds of the bond sale to repay borrowings under a current facility.
11:02 a.m. May 23, 2020 - By Howard Gold
Warren Buffett has lost at least $7 billion from his last 3 big investments Berkshire Hathaway’s recent track record is really, really badBerkshire Hathaway’s recent track record is really, really bad.
7:48 p.m. May 20, 2020 - By Marketwatch
Asian markets little changed as Japan reports plunge in exports Nikkei nearly flat, while Hang Seng inches upAsian markets were little changed in early trading Thursday, after Wall Street bounced back and Japan reported miserable exports data.
6:28 p.m. May 20, 2020 - Associated Press
China focused on creating jobs as People’s Congress meets Huge pressure to get economy going again after coronavirus shutdownAs job losses surge, China is joining the United States and other governments in rolling out stimulus spending to revive its virus-battered economy.
12:45 p.m. May 17, 2020 - MarketWatch
For J.C. Penney, the clock is tickingThe clock is ticking for J.C. Penney Co., which is racing to settle with creditors quickly enough to convince them it can once again make money selling clothing, cosmetics and cookware to another generation of Americans.
2:46 p.m. May 12, 2020 - By Joy Wiltermuth
Fed spells out terms of TALF rescue facility, potentially paving way to unleash funds in weeks Fed facilities already providing ETF boostThe Federal Reserve on Tuesday laid out specifics for participants in its $100 billion Term Asset-Backed Securities Loan Facility to keep credit flowing to U.S. consumers and businesses during the pandemic, potentially paving the way to kick off the program in mid-June.
3:28 a.m. May 12, 2020 - By Tanner Brown
China shares stagnant this week despite Beijing hints at ‘more powerful’ stimulus PBOC’s quarterly report marks shift in tone from conservative to more flexible tools to fight slowdownThe PBOC’s quarterly report marks shift in tone from conservative to more flexible tools to fight slowdown
11:17 a.m. May 7, 2020 - By Ciara Linnane
Coronavirus update: U.S. death toll tops 74,000, as Trump administration shelves ‘too cautious’ CDC guide to reopening Tesla is gearing up to reopen California plant, and retailers Gap and Kohl’s are starting to open their doorsThe number of U.S. fatalities from the coronavirus that causes COVID-19 climbed above 73,000 on Thursday, as President Donald Trump’s administration said it is shelving recommendations from the Centers for Disease Control and Prevention on reopening safely because they were too cautious
7:59 a.m. May 7, 2020 - Barrons.com
Neiman Marcus’s Bankruptcy Just Pushed Retailer Defaults to an All-Time High Neiman Marcus has filed for bankruptcy in a restructuring that will transfer majority ownership of the retailer to its creditors.
2:51 a.m. May 7, 2020 - By Ciara Linnane
Fitch downgrades General Motors rating to one notch above junk Fitch Ratings downgraded General Motors Co.'s long-term issuer default rating to BBB-minus from BBB, putting it one notch above junk status. The rating agency also downgraded GM Financial's IDR to BBB-minus, and said both ratings outlooks are stable. The move is based on the expectation that the auto giant's credit profile will remain weak for a prolonged period, against the macroeconomic environment caused by the coronavirus pandemic. "Fitch expects the macro environment to remain weak through the rest of 2020 and much of 2021, which will likely keep sales volumes well below the 2019 level into much of 2022," the agency said in a statement. "The company's more concentrated operations, with its automotive FCF completely dependent on the North American and Chinese auto markets, could also pose some risk in the future, although it has resulted in less cash burn in the current environment." GM's ratings and stable outlook reflect the company's strong liquidity position and the expectation that it will retain and investment-grade rating once the peak of the pandemic has passed. GM shares were up 1.8% premarket, but have fallen 40% in the year to date, while the S&P 500 has fallen 12%.
5:55 a.m. May 5, 2020 - Barrons.com
Barron’s Daily: 5 Things to Know Before the Market Opens Rising estimates for Covid-19 deaths in the U.S., Disney reports earnings, German high court throws doubt on the European Central Bank’s quantitative easing program.
4:21 a.m. May 5, 2020 - By Andrea Riquier
A new asset class joins the ETF world: sukuk A little more yield, a little more risk? A new ETF is the first to offer access to sukuk, Islamic finance-compliant instruments similar to lease agreements.
2:11 p.m. May 4, 2020 - By Ciara Linnane
Coronavirus update: Global case tally passes 3.5 million; Trump and senior officials continue to lash out at China J. Crew files for bankruptcy and GE announces permanent job cuts at its aviation unit; global deaths top 250,000The number of cases of the coronavirus that causes COVID-19 climbed above 3.54 million on Monday, as President Donald Trump and senior members of his administration continued to lash out at China, where the virus was first reported late last year.
11:01 a.m. May 4, 2020 - Barrons.com
After J.Crew’s Bankruptcy, Here Are 5 Others With Debt Woes. The default rate among retailers could rise to 19% by the end of the year, according to Fitch Ratings, and that probably will lead to more filings.
5:15 a.m. May 4, 2020 - By Tomi Kilgore
Starbucks credit downgraded to 2 notches above 'junk' at Fitch, outlook is negativeStarbucks Corp.'s credit rating was downgraded to BBB from BBB+ at Fitch Ratings, citing the coffee seller's high debt leverage amid a "significant business interruption" from the coronavirus pandemic. Fitch said the rating outlook is negative, which warns of further downgrades. Starbucks's credit rating is now two notches above "junk" territory at Fitch. The credit rating agency said the downgrade follows Starbucks's proposed $3 billion debt offering and disappointing . Fitch said the negative outlook reflects the downturn on discretionary spending caused by the coronavirus pandemic, which Fitch expects "could extend well into 2021." The stock, which fell 1.2% in premarket trading, has lost 16.5% over the past three months through Friday, while the S&P 500 has shed 14.2%.
9:59 a.m. May 1, 2020 - Barrons.com
Retail Stocks to Put on Your Shopping List Retail analyst Dana Telsey expects brands such as Lululemon, Estée Lauder, and Ulta to thrive once the pandemic passes.
2:59 a.m. April 30, 2020 - By William Watts
ECB’s emergency response to coronavirus economic crunch applauded — but more help likely to be needed ECB may stand pat Thursday, but more action expected in near futureTo European Central Bank President Christine Lagarde’s relief — actions did speak louder than words. The question for investors is whether more action is in store this week.
5:12 a.m. April 29, 2020 - By Steve Goldstein
Beaten-up value stocks are offering opportunities of a generation, fund manager saysOne fund manager is convinced value stocks will come back. Here’s where he is invested.
1:03 a.m. April 29, 2020 - By Barbara Kollmeyer
European stocks struggle amid earnings deluge, but banks and oil companies rise IAG tumbles after BA announces 12,000 job cutsEuropean stocks struggled for traction on Wednesday, on a busy day for earnings that overall reflected the deep difficulties facing companies amid the coronavirus outbreak.
2:56 p.m. April 28, 2020 - Barrons.com
Comerica’s Rating Was Downgraded. More Cuts Could Be Ahead. Comerica relies on net interest income more than its peers for profits, according to Fitch. The bank also does more business in sectors that are expected to be hurt most by coronavirus lockdowns. Fitch also assigned a negative outlook to the credit ratings of seven other banks.
4:03 a.m. April 28, 2020 - By Lina Saigol
HSBC, Santander and UBS set aside billions for loan losses for coronavirus Europe’s lenders set aside billions in bad loan provisions HSBC, Santander and UBS set aside billions of loan loss provisions as they prepare for a wave of credit losses caused by the coronavirus pandemic.
4:47 p.m. April 27, 2020 - MarketWatch
Detroit auto makers aim to reopen factories May 18Detroit's car companies are targeting May 18 to resume some production at their U.S. factories after the companies shut down their plants in March amid the spread of the coronavirus, according to people familiar with the plans.
7:56 a.m. April 24, 2020 - Barrons.com
China’s Stimulus Moves Are Bigger Than You Think China is often criticized for its perceived tepid response to the coronavirus-triggered financial crisis, but policy makers have quietly made numerous moves to shore up its crippled system.
4:30 a.m. April 24, 2020 - Barrons.com
Beware the Siren Song of Some BDCs’ Yields High-yielding business development corporations are exposed to some of the small to midsize U.S. businesses expected to be hardest hit by the coronavirus crisis, leading some to pare dividends or offer payouts in shares. Some BDCs, however, are positioned to handle the distress.
7:38 a.m. April 21, 2020 - Barrons.com
Lord and Taylor Is the Latest Retailer to Reportedly Consider Bankruptcy The department store is reportedly considering bankruptcy among possible moves as its stores remain closed.
11:46 a.m. April 20, 2020 - By Jon Swartz
Disney+ may be the only plus for Disney as coronavirus slams other businesses Disney in the age of COVID-19: With theme parks, movie production and live sports shut down, Disney’s new streaming service becomes even more importantPerhaps no company faces a greater existential financial crisis in the age of COVID-19 than Walt Disney Co., a legendary company built on social interaction that may find its newest business offers the most immediate relief.
8:26 a.m. April 18, 2020 - By Tonya Garcia
Nordstrom can withstand 12 months of store closures, but other department stores have much less time, analysts say Retailers have taken steps to cut expenses, but they’re going to need $1 billion in working capital, Cowen saysNordstrom has taken steps to increase its liquidity amid the Covid-19 outbreak, but other department stores could be in trouble, analysts say.
12:46 a.m. April 17, 2020 - By Lina Saigol
Vulture funds prepare to swoop in and feast on troubled company debtDistressed debt funds begin to circle troubled companies hit hard by the impact of the coronavirus pandemic
7:38 a.m. April 16, 2020 - By Joy Wiltermuth
U.S. commercial real estate braces for defaults as pandemic cuts cash flows ‘Everybody needs help,’ says Ann Hambly, founder of 1st Service Solutions, about commercial property ownersThe coronavirus pandemic has turned the $4.4 trillion U.S. commercial real estate finance market upside down, as landlord facing missed rents during the shutdown and race to get aid.
11:41 a.m. April 15, 2020 - Barrons.com
J.C. Penney Won’t Make a $12 Million Interest Payment After years of dwindling foot traffic and sales, J.C. Penney is considering “strategic alternatives” and has decided not to make a scheduled $12 million interest payment on a 2036 bond.
10:05 a.m. April 9, 2020 - Barrons.com
The Fed for the First Time Ever Can Buy Junk Bonds The Federal Reserve is making its first-ever foray into the junk-rated corporate bond market, saying it will consider buying noninvestment-grade corporate bonds and exchange-traded funds.
1:14 p.m. April 8, 2020 - By Tonya Garcia
Ulta will benefit from the ‘lipstick effect’ even if no one is wearing makeup while social distancing Abercrombie & Fitch and Lululemon Athletica are other analysts picks for a quick reboundUlta Beauty, Lululemon Athletica and Abercrombie & Fitch are some of the retailers that analysts say will bounce back from the coronavirus pandemic.
10:02 a.m. April 7, 2020 - By Tomi Kilgore
Fitch sees 2020 advertising recession as a result of COVID-19, with effects lingering next yearThe economic shock resulting from the COVID-19 pandemic will result in a "significant near-term pullback" in advertising, leading to an ad recession in 2020, according to Fitch Ratings. The credit rating agency expects overall ad spending to contract in the mid-to-high single-digits percentage range this year, and then declining in the low-to-mid-single digits range in 2021. U.S. TV viewing has increased, as people follow shelter-in-place restrictions, but while ad impressions will increase, the overall value of ads will decline because of the lack of sports and other live programming, Fitch said. Traditional media advertising, which declines expected in the low-to-high-teen range, will fare worse than digital advertising, which is expected to be more resilient. Print declines are expected to be in the low-double-digit to high-teens range while radio and outdoor ads are expected to fall in the low-double-digit range, as as time spent commuting and in automobiles are reduced. Large travel and leisure, auto, retail and restaurant advertisers are projected to have "heavily affected" by the ad market weakness, while the negative effect on political advertising is expected to be minimal. Among some public advertising companies, shares of both Omnicom Group Inc. and Interpublic Group of Companies have lost 32% year to date, while the S&P 500 has declined 16%.
9:53 a.m. April 6, 2020 - By Tomi Kilgore
Hillenbrand downgraded to 'junk' territory at FitchHillenbrand Inc.'s credit rating was cut Monday into "junk" territory at Fitch Ratings, citing expectations that the pace of the company's deleveraging following the will slow because of the coronavirus-related economic slowdown. Fitch downgraded the maker of engineered industrial equipment's issuer default rating (IDR) to BB+ from BBB-, which was the lowest investment grade rating. The Milacron deal, , was valued at $1.9 billion including debt. Fitch said the rating has a negative outlook, to reflect heightened COVID-19-related risk levels, potential challenges in integrating Milacron and the risk of an extended downturn in plastic equipment markets. "The effect of coronavirus is expected to be felt in the final three quarters of fiscal 2020 (to end in September 2020), when sales and margins are expected to contract materially, followed by a sales and margin recovery beginning in fiscal 2021," Fitch said. Hillenbrand's stock, which surged 10.3% in afternoon trading, has tumbled 44.9% over the past three months, while the Dow Jones Industrial Average has dropped 22.3%.
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