What's old—trade tensions—is new again as a move to block semiconductors to Huawei led to retaliatory threats from China. Meanwhile, retail sales came in below consensus, reminding us that the economic recovery may prove challenging.
American Express (AXP) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Buffett explains why size can be a business's biggest strength Continue reading...
Twitter, Square, Shopify and Facebook are allowing employees to permanently work from home.
DOW UPDATE The Dow Jones Industrial Average is rallying Wednesday afternoon with shares of American Express and Goldman Sachs leading the way for the index. The Dow (DJIA) was most recently trading 281 points, or 1.
DOW UPDATE Powered by strong returns for shares of Dow Inc. and Raytheon Technologies Corp., the Dow Jones Industrial Average is soaring Tuesday morning. Shares of Dow Inc. (DOW) and Raytheon Technologies Corp.
Mastercard Inc will not ask staff to return to its worldwide corporate offices until a vaccine is available for the sometimes fatal coronavirus that has infected the globe, a senior executive told Reuters on Wednesday. The world's second-largest payment processor is also looking at its real-estate footprint and considering consolidating offices, Chief People Officer Michael Fraccaro said.
After falling deeply and quickly from late February through late March, the S&P 500 has bounced back pretty strongly. Two I recently bought more of are American Express (NYSE: AXP) and The Rubicon Project (NYSE: RUBI). The three are down 28% and 37%, year to date, versus an 8% dip for the SPDR S&P 500 ETF Trust (NYSEMKT: SPY) since January 1.
If referencing the market against the Dow Jones Industrials, you’re obsolete, living in the dark ages of the 1950s, when technology as a market sector was insignificant. Let’s leave the Dow Jones to broadcasters with blown-dried hair.
I scan a couple of dozen quarterly 13F reports, looking for groupthink, over-speculation and concentration in specific sectors of the market and in individual stocks.
(Bloomberg Opinion) -- After a prolonged shutdown, Ford Motor Co. officially resumed production at its North American factories this week. It hasn’t been as smooth a process as the company might have hoped: Ford had to temporarily close two critical facilities this week to allow for a deep cleaning after workers tested positive for the coronavirus. An Explorer SUV plant in Chicago was closed a second time after an employee at a nearby supplier facility tested positive for the virus, causing a parts shortage.This is the reality of manufacturing for the time being as companies fret about worker safety and the legal and reputational risks of not doing enough to protect employees. Unlike Ford, whose products fall into a category of consumer spending that’s become even more discretionary amid the pandemic, wide swaths of the industrial sector were deemed essential and allowed to remain operational. Those companies, too, have had their share of growing pains as they adjust to a new way of working.Boeing Co. temporarily closed its factories in the Puget Sound area in March after a worker died of the coronavirus and later briefly shuttered work at its 787 plant in South Carolina. CBS Minnesota reported earlier this month that a Honeywell International Inc. facility in Minneapolis had closed after a worker tested positive. Whirlpool Corp. closed its Amana, Iowa, refrigerator plant at least twice after employees tested positive for the virus, according to the Gazette local paper. Deere & Co. and Altria Group Inc.’s Philip Morris USA are among the many others that have had to close plants on a limited basis to avoid outbreaks among workers. Lockheed Martin Corp., meanwhile, said this week it will temporarily slow production of the F-35 fighter jet because of delays at suppliers. It’s a lot harder, though, to bring factories back to life than it is to just figure it out as you go along. Ford may be a manufacturer, but because it’s one of the few to have experienced an extended lockdown, it’s arguably a better benchmark for the non-industrial economy. You better believe that office-based companies that have sent most of their workers home are keeping a close eye on how the likes of Ford fare in flipping the switch back on. Seeing the automaker’s setbacks this week, companies that can operate without their employees clustered in the same place may be less keen to rush back. They’re getting a more continuous stream of work out of their employees now than they would if they had to hit the pause button and clear out the office every few weeks. And the mixed messages from the White House aren't helpful: President Donald Trump is due to visit a Ford factory in Michigan that’s been converted to ventilator production and has been wishy-washy on whether he will adhere to the company’s face-mask requirements. Already, American Express Co. CEO Steve Squeri and Visa Inc. CEO Al Kelly said this week that most of their employees would work from home for the rest of the year. Some 28% of employers recently surveyed by Challenger, Gray & Christmas said they would make work-from-home arrangements permanent for at least some employees. Cryptocurrency exchange Coinbase and social media site Twitter Inc. are among those who have publicly said remote working will be their indefinite default option. Facebook Inc. said Thursday it would follow suit and move to a more permanent remote workforce.At the end of the day, manufacturing or non-manufacturing, it's all interconnected. How permanent this shift to work from home will be is debatable, but if companies end up needing less office space, by default that means fewer HVAC systems, commercial lighting, fire and security products or even 3M Co.’s Post-it notes. And if workers aren’t going to be commuting, do they still need to buy cars from Ford? There's a lot riding on getting reopening right. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Dow Jones gains 2.21% Continue reading...
DOW UPDATE Shares of JPMorgan Chase and American Express are trading higher Wednesday morning, propelling the Dow Jones Industrial Average into positive territory. Shares of JPMorgan Chase (JPM) and American Express (AXP) are contributing to the index's intraday rally, as the Dow (DJIA) is trading 112 points higher (0.
DOW UPDATE Shares of American Express and JPMorgan Chase are trading higher Wednesday morning, propelling the Dow Jones Industrial Average rally. Shares of American Express (AXP) and JPMorgan Chase (JPM) are contributing to the index's intraday rally, as the Dow (DJIA) was most recently trading 315 points (1.
Signs that economies around the world are starting to reopen, combined with encouraging progress on the vaccine front are helping give stocks a lift in early Tuesday trading. Volatility is still somewhat lofty, though, as there's plenty of tough road ahead.
According to Warren Buffett, diversification is only needed if you don't know what you're doing.
What took place this week in the credit card and payment industries
Berkshire Hathaway CEO Warren Buffet has been more or less par for the course with the benchmark S&P 500 over the past decade.
Good news from Gilead Sciences and a statement from the Federal Reserve offset some grim economic numbers
The first-quarter earnings season has revealed how quickly companies are embracing digital and automation strategies, as they shift to dealing with consumers who are complying with stay-at-home rules and other restrictions on movement during the coronavirus p…
A century-old stalwart on sale and a disruptor in the future of advertising.
The Dow Jones Industrial Average is climbing Wednesday morning with shares of Goldman Sachs and American Express seeing positive momentum for the index. The Dow (DJIA) is trading 185 points higher (0.7%), as shares of Goldman Sachs (GS) and American Express (AXP) have contributed to the index's intraday rally. Goldman Sachs's shares are up $9.16 (4.7%) while those of American Express are up $4.31, or 4.5%, combining for a roughly 92-point boost for the Dow.
Korean Air hopes looks and perks will tempt consumers to its first directly issued credit cards, giving the airline greater control and value in the lucrative mileage and card businesses.
American Express’ stock has gained more than 23% since hitting a low of $69 on March, 23. However, we believe that American Express’ stock still has upside potential. Our belief stems from the fact that the company’s stock is still 30% lower than it was at th…
S&P Global Ratings revised the outlook on 13 U.S. banks to negative from stable and said the coronavirus pandemic will hit hardest those most exposed to industries such as commercial real estate and consumer lending that are already being slammed by virus-dri…
The stock market is having an excellent start to the short trading week on Tuesday. Throughout the stock market rally since hitting bottom in late March, we've seen financial stocks -- particularly credit card companies -- outperform the market on strong days, and Tuesday wasn't an exception. American Express (NYSE: AXP) was nearly 6% higher on the day, while Discover (NYSE: DFS) and Capital One (NYSE: COF) were doing even better, up by 7.6% and 7.8%, respectively.
The number of deaths from COVID-19, the illness caused by the novel coronavirus, rose above 250,000 on Tuesday, amid news reports that internal projections used by White House officials were forecasting a jump in U.S. cases to come, even as President Donald T…
The Dow Jones gained 3.3% last week, marking its best weekly performance since April 9.
Last December, about a fortnight before officials in Wuhan began telling of a strange sickness that was filling the city’s hospitals, executives at the Carlyle Group worked into the night to sign what they imagined would be one of the private equity firm’s most enduring deals. Like other big Wall Street firms, Carlyle had taken to promising investors stability instead of trying to wow them with the prospect of profits that came in spectacular bursts. In 2020, however, there may be no such thing as a stable business, and Carlyle is now trying to walk away from the Amex deal before any money has even changed hands.
Doing work may have changed forever because of the COVID-19 pandemic.
DOW UPDATE Led by positive gains for shares of American Express and Goldman Sachs, the Dow Jones Industrial Average is rallying Wednesday afternoon. Shares of American Express (AXP) and Goldman Sachs (GS) have contributed to the index's intraday rally, as the Dow (DJIA) is trading 350 points (1.
Weak sales volume and higher expenses make Discover Financial (DFS) an unattractive stock now.
Nasdaq gains 2.08% Continue reading...
Guru also slashes Goldman Sachs stake by 84%
Shares of Marriott International Inc. took a hit Monday, after the hotel operator missed first-quarter profit expectations, but Chief Executive Arne Sorensen highlighted a “glimmer of good news” by saying business appears to have bottomed.
The strongest performers in the Dow were hard-hit financials. American Express stock surged 7.3%, Goldman Sachs Group stock gained 6.9%, and JPMorgan Chase stock added 5.8%. All three remain in the red for the year to date, however.