Good MorningEquity markets reversed Thursday’s gains on a double-dose of bad news. First, the Federal Reserve stress tests of the U.S. banking system came up wanting. That means, despite the appearance of sufficient capitalization, the banks are at risk in the current environment. What it means for the equities market is no more share buybacks or dividend increases from the banking sector this year.
The second bit of bad news comes from Texas. The Lone Star State rolled-back its reopening plans, reinstating social-distancing lockdown measures, as the number of new cases skyrockets. The risk for markets now is that more states will do the same. The news was not all bad however, shares of discount retailer Big Lots surged nearly 30% after the company raised its full-year guidance to a range well above consensus. Next week, investors will be on alert for the June payrolls report, a figure that could make or break the market.
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When you look at some of the hottest stocks in the market over the last few months, certain names immediately come to mind. Companies like Shopify (NYSE:SHOP) and Zoom Video Communications (NASDAQ:ZM) have become household names as they have vastly outperformed the majority of the market this year... Read the Full Story |
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After climbing as high as 8% for the day, VMware (NYSE: VMW) shares are holding on to a gain of just over 2% in late day trading. Investors continue to digest rumors that parent company Dell (NYSE:DELL) will spin-off its $50 billion stake in VMware.
The move is perceived as being a potential cata... Read the Full Story |
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Markets | | | It’s taken a little longer than others, but by the time the bell rang to end Thursday’s session, shares of Accenture (NYSE: ACN) had not only reclaimed their pre-coronavirus levels but had closed above them. Read the Full Story |
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From Our Partners | | Michael Robinson has been at the forefront of the technology market for over 40 years.
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Markets | | | The Facts Are In, This Stock Is Worth The Money
A few days ago IHS Markit (NYSE:INFO) emerged as a quality buy for its value, growth and dividend so it is no surprise to me today the same is true for Factset Research Systems (NYSE:FDS). The fiscal third-quarter results were a mixed bag if you belie... Read the Full Story |
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Darden Restaurants (NYSE:DRI), the owner of Olive Garden, LongHorn Steakhouse, and other popular dining brands, reported better than expected results for the fourth quarter of fiscal 2020.
For the period ended May 31st, sales declined 43% to $1.27 billion and were in-line with the Zacks' consensu... Read the Full Story |
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The Early Bird Stock Of The Day Waste Management, Inc., through its subsidiaries, engages in the provision of environmental solutions to residential, commercial, industrial, and municipal customers in the United States and Canada. It offers collection services, including picking up and transporting waste and recyclable materials from where it was generated to a transfer station, material recovery facility (MRF), or disposal site; and owns and operates transfer stations, as well as owns, develops, and operates landfill facilities that produce landfill gas used as renewable natural gas for generating electricity. As of December 31, 2022, the company owned or operated 254 solid waste landfills, five secure hazardous waste landfills, 97 MRFs, and 337 transfer stations. It also provides materials processing and commodities recycling services at its MRFs, where cardboard, paper, glass, metals, plastics, construction and demolition materials, and other recycling commodities are recovered for resale or redirected for other purposes; recycling brokerage services, such as managing the marketing of recyclable materials for third parties; and other strategic business solutions. In addition, the company offers construction and remediation services; services related with the disposal of fly ash, and residue generated from the combustion of coal and other fuel stocks; in-plant services comprising full-service waste management solutions and consulting services; and specialized disposal services for oil and gas exploration and production operations. The company was formerly known as USA Waste Services, Inc. and changed its name to Waste Management, Inc. in 1998. Waste Management, Inc. was incorporated in 1987 and is headquartered in Houston, Texas. | | View Today's Stock Pick |
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