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The stock market retained a strong performance despite a rapidly increasing number of more infected by the coronavirus in the US as well as growing concerns over up coming Presidential elections. S&P 500 and Nasdaq posted modest gains while the Dow fell at the close of Friday’s session. The S&P 500 health-care sector ETF rose…
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Warren Buffett’s (pictured) conglomerate Berkshire Hathaway has banked around $40bn from its investment in Apple, which along with other tech stocks rallied during the pandemic. The man often called the world’s most famous investor progressively built up its position in the iPhone maker until owning 245 million shares, making Berkshire the second-largest shareholder of Apple,…
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United Airlines (UAL) stock closed largely unchanged $34.49 on Thursday, ahead of the company’s second-quarter earnings report, due out after the close next Tuesday. But the stock has tumbled 62% this year. Similar to the first quarter, analysts expect the company’s second-quarter performance to reflect the negative impact that nationwide lockdowns have had on air…
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Microsoft will release its fiscal fourth-quarter earnings on Wednesday with the stock soaring to new highs a few weeks ago. Analysts polled by Thomson Reuters expect Microsoft to post revenues of $36.5bn in the quarter as compared to $33.7bn in the same quarter in 2019. Its earnings per share are expected to rise from $1.37…
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For the first time in at least 20 years the number of active exchange-traded funds (ETF) launched is outpacing the debut of passively-managed funds as as issuers bet on investor demand for stock picking. So far in 2020, 68 actively-managed ETFs have been released against only 63 passively-managed ETF products, reversing a long-held notion that…
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The super-rich are getting out of stocks after making billions by betting on the recovery of the stock market during the pandemic sell-off, says wealth management giant UBS. Billionaires took out sizable bank loans during the February market crash caused by the coronavirus crisis and reaped handsome profits during the swift recovery that followed, said…
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Results from the latest trading session point to investors moving away from U.S. stock futures towards the safety of government bonds as jitters mounted about the recovery from Covid-19 lockdowns. Stock futures linked to the S&P 500 were down 0.4%. European stocks traded slightly higher, with the Stoxx Europe 600 index up 0.3%. Asian markets…
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New-York based investment bank Goldman Sachs recently revised its 2020 GDP estimates for the US economy, as coronavirus cases in the country reach all-time highs and lockdown fears loom in the backdrop. The bank’s team of economists, led by Jan Hatzius (pictured), is now forecasting a deeper contraction during the third quarter of the year,…
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The 10-year anniversary of Elon Musk’s company going public has yielded positive results for Tesla stock. As the electric vehicle maker moves into double figures as a publicly-traded company on Monday, investors are celebrating its success from the initial public offering price of $17 a share to $1,079 on the technology-laced Nasdaq stock exchange. Since…
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Virtual meetings as a way to streamline business schedules and reduce costs have become increasingly popular in recent years. However, with lockdown rules in place and millions of employees working from home, the COVID-19 pandemic has led to a surge in the use of the web conferencing platforms. Global spending on cloud-based web conferencing solutions…
