Current CVS CEO, Larry Merlo is retiring, and the company's board has picked a new chief executive, Karen Lynch. Supermarket News reports: Plans call for Lynch to take the CEO reins on Feb. 1, 2021, and join the CVS board of directors. At that time, Merlo will shift to a strategic adviser role to help in the leadership transition, CVS said. He also will continue to serve on the board until the next CVS annual shareholders meeting in May 2021. Merlo is slated to officially retire on May 31, 2021. “Karen is a seasoned health care expert who knows our business. She brings a relentless focus … [Read more...]
The Big Reward for Delaying Social Security
In The Wall Street Journal, David Blanchett explains the rewards retirees will reap by delaying their Social Security payments. He writes: Many people worry about the long-term viability of the Social Security retirement system these days. Pre-pandemic estimates put the trust fund going to empty around 2034, but given everything going on with our economy that estimate seems a tad optimistic. When the trust fund goes to zero, though, it doesn’t mean benefits go to zero. At that point benefits would be based on taxes collected. Assuming nothing changes policy wise, that would reduce benefits … [Read more...]
Volvo Beats Tesla to Fully-Electric Heavy-Duty Truck Market
On Thursday, Volvo became the first manufacturer to offer a fully-electric heavy-duty truck. Richard Milne reports for Financial Times: Volvo Group is set to become the first manufacturer to offer a fully-electric heavy-duty truck for sale as the Swedish group aims to show battery power is possible for the biggest commercial vehicles. The world’s second-largest truckmaker announced on Thursday that electric heavy-duty trucks with a range of up to 300km would go on sale next year and enter production in 2022 as Volvo pushes for half its truck sales in Europe to be battery powered by the end … [Read more...]
Trapped by Low Liquidity
Investors in private real estate funds are finding out what liquidity risk means. High redemption requests are forcing big real estate funds to delay redemptions. Peter Grant and Esther Fung report for the Wall Street Journal: Overall, more than 15 of the 25 open ended core funds tracked by the National Council of Real Estate Investment Fiduciaries have investors waiting to redeem tens of billions of dollars worth of investments, according to industry participants. The Council said it doesn’t tabulate redemptions. Those 25 funds had a total of $267.1 billion gross real-estate assets at the … [Read more...]
Doubting the Dollar?
At the Financial Times, Michael Mackenzie explains the long term forces stacking up against the dollar. He writes: With alarm bells ringing across financial markets in recent days, the US dollar has found its footing, reflecting its haven status whenever equities and investor sentiment take a knock. But that may prove fleeting given the longer term forces stacking up against the world’s reserve currency. Since climbing to its best level since 2002 in the wake of the pandemic earlier this year, the Federal Reserve’s trade-weighted dollar index has been pressured by a combination of rising … [Read more...]
When Stocks Start Falling on Good News, There May Be a Problem
Despite strong results, big tech companies are under pressure. Dan Gallagher reports for The Wall Street Journal: Having a low bar helps; Alphabet’s shares have risen only 16% year to date compared with the average 56% gain by Apple, Amazon and Facebook. The company also saw a sharp bounceback for its core Google advertising business, which reported its first-ever decline in the second quarter. It also announced plans to turn its Google Cloud business into a separate reporting segment starting with its fourth-quarter report. Amazon’s share price surged 118% in 2015 when the e-commerce giant … [Read more...]
The Value Opportunity: Darkest Before Dawn?
Cliff Asness, Mario Gabelli, and Josef Lakonishok encourage investors not to give up on value. Instead, they say, if you can, double down on it. Bloomberg's Justina Lee reports: What do you get when three superstar value managers jump on a Zoom call? Self-deprecation, mutual flattery and an impassioned case for why the stock market is in a bubble. During a webinar for clients on Wednesday, AQR Capital Management founder Cliff Asness joined Gamco Investors Inc.’s Mario Gabelli and LSV Asset Management’s Josef Lakonishok in making a plea: Don’t give up on value, and if you can, double down … [Read more...]
“Amazon Ruined My Life”
"Amazon ruined my life." Those are the words of retailer Barak Govani, who moved his entire inventory into Amazon's warehouses after packing up his brick and mortar store on Melrose Avenue, Los Angeles. Much of Govani's inventory was destroyed when Amazon accused him of selling counterfeits, a claim he strenuously denies. Bloomberg's Spencer Soper reports: Barak Govani made a big bet on Amazon.com Inc. earlier this year that he now regrets. He shuttered his New York Speed clothing store on Los Angeles’s storied Melrose Avenue, packed up $1.5 million in inventory and shipped it to Amazon … [Read more...]
Is Your ESG Fund Betting on the Next Big Short Target?
At the Financial Times, Billy Nauman examines ESG funds and their potential as victims of short-sellers. He writes: Whenever big money starts flowing into a hot new sector, it seems inevitable that companies that list on the stock market fall short of hype and hope around them. One of the market’s current hottest areas is environmental, social and governance investing. And, like the cryptocurrency boom and cannabis stock surge, the flood of money has been followed closely by allegations of fraud. These claims are often made by activist investors and short-sellers, who bet on the fall in … [Read more...]
Double Digit Stock Market Gains Projected if Trump Wins
Many Wall Street strategists have come out in recent weeks with “research” indicating that a blue-sweep would be bullish for the economy and the stock market. See here and here for example. Somebody’s been hitting the blue Kool-Aid hard. Since when are massive tax increases, burdensome regulation, and bigger government bullish for growth and the economy? Thankfully, there is at least one strategist on Wall Street with a sober view. JP Morgan expects a Trump victory to lead to double-digit gains in the stock market. In JP Morgan’s view, a blue sweep would be neutral for the market, but … [Read more...]
- « Previous Page
- 1
- …
- 62
- 63
- 64
- 65
- 66
- …
- 218
- Next Page »