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Follow this list to discover and track stocks that have set MACD bearish crosses within the last week. A bearish crossover occurs when the MACD turns down and crosses below the signal line. Our algorithms use 12,26,9 as MACD parameters. This list is generated daily, ranked based on market cap and limited to the top 30 stocks that meet the criteria.
UnitedHealth Group Incorporated
Verizon Communications Inc.
Wells Fargo & Company
Wells Fargo & Company
PayPal Holdings, Inc.
Eli Lilly and Company
Texas Instruments Incorporated
Philip Morris International Inc.
Anheuser-Busch InBev SA/NV
Vertex Pharmaceuticals Incorporated
Crown Castle International Corp. (REIT)
E. I. du Pont de Nemours and Company
Regeneron Pharmaceuticals, Inc.
Equinix, Inc. (REIT)
Applied Materials, Inc.
Illinois Tool Works Inc.
The Charles Schwab Corporation
While NBCUniversal is launching its Peacock streaming service tomorrow with support for a variety of platforms (including iOS and Android devices, Apple TV, Chromecast and Xbox One), two big names are missing from the list — the two largest connected TV platforms, Roku and Amazon Fire TV. If this sounds familiar, it's because WarnerMedia's HBO Max similarly skipped both platforms. At the time, WarnerMedia simply said, "We look forward to reaching agreements with the few outstanding distribution partners left" — but nearly two months later, no agreements have been announced.
Bharti Airtel announced on Tuesday it has partnered with Verizon* to launch BlueJeans video-conferencing service in India to serve business customers in the world’s second largest internet market. The video conferencing service, branded as Airtel BlueJeans in India, offers "enterprise-grade security" (which includes encrypted calls, ability to lock and password protect a meeting and generate randomized meeting IDs), a cloud point presence in India to enable low latency, HD video and Dolby Voice, and can accommodate up to 50,000 participants on a call.
WFC earnings call for the period ending June 30, 2020.
WFC earnings call for the period ending June 30, 2020.
(Bloomberg Opinion) -- About two months after Moderna Therapeutics Inc. released preliminary Covid-19 vaccine data that sent the stock market into a tizzy, the company published a complete look at the initial human trial of its drug late Tuesday — and it promptly moved the market again.Moderna shares surged 20% on the results in after-market trading, and stocks in general got a loft as well. Is it warranted? For sure, the expanded results published in the New England Journal of Medicine contain good news about the vaccine's early attributes. However, they mainly put what the company revealed in its sparse May release on firmer footing instead of breaking swaths of new ground as one might expect from the reaction. In short, investors may be ahead of themselves.There are a host of open questions about the vaccine's clinical and commercial potential. They won't be resolved until Moderna finishes a huge clinical trial currently scheduled to begin July 27. New investors would be paying a hefty price for a long wait and a still high level of risk. According to the expanded results, two shots of the Moderna vaccine generated antibody levels higher than those generally seen in people that recover from Covid-19. The company’s initial release suggested something similar. Still, the new publication shows results in a broader group of patients and goes into needed detail about precisely what Moderna was measuring. Investors should feel more secure in the notion that the vaccine produces an immune response, a real milestone. However, just as in May, it's not clear whether people who survive Covid have durable immunity to the virus and how that relates to antibody levels. A further relationship between antibodies and vaccine effectiveness still needs to be proved in a robust trial. The company isn't necessarily measuring the wrong thing; antibody levels are as good a target as scientists have at the moment. But the human immune system is complicated and researchers have much to learn.While Moderna is undoubtedly a front-runner, it's not alone. It will be neck-and-neck with Pfizer Inc.'s similar vaccine as well as AstraZeneca Plc, with others following soon. There's no guarantee that it will finish first or with a happy result. There's some randomness to placebo-controlled vaccine trials; a significant number of people on the control arm have to contract the virus to prove the shot effective by comparison, and that could take time.Moderna's trial will focus on areas where the virus is spreading, but so will everyone else's. If another drugmaker recruits faster, has a more effective shot or gets lucky with a higher rate of infection on the placebo arm, they could move ahead.Other details: The company's expanded results didn't reveal any "serious" adverse events like a death or a life-threatening reaction, but the vaccine did produce a noticeably high rate of side effects including fatigue, fever, and muscle pain. New safety concerns could arise in the larger trial; the company has 45 people’s worth of data; thousands more will get the shot in the months to come. While the Food and Drug Administration is likely to be relatively flexible on safety for an effective vaccine, unpleasant side effects could diminish uptake and commercial opportunity, especially if there's a more appealing option.Investors may be excited by Jefferies Analyst Michael Yee's prediction that Moderna could reap $5 billion in sales, but none of that materializes if the vaccine doesn't work. Even if the company succeeds and navigates competitive risks, the hefty dose of U.S. taxpayer money that has gone into the company's effort will create extra pressure to price modestly.Moderna, up 283% year to date, is priced for multiple best-case scenarios right now. Investors convinced it’s still a strong buying opportunity should have their eyes open.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.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.
"Our view of the length and severity of the economic downturn has deteriorated considerably from the assumptions used last quarter, which drove the $8.4 billion addition to our credit loss reserve in the second quarter," CEO Charlie Scharf said in a press release. "We are extremely disappointed in both our second-quarter results and our intent to reduce our dividend," Scharf said. To right the ship, Scharf promised to improve Wells Fargo's operations in the quarters ahead.
Wall Street surged on Tuesday, with the Dow Jones Industrial Average ending more than 2% higher as investors bought energy and materials stocks and looked beyond a recent rise in coronavirus cases. In extended trade, Moderna Inc surged 18% after the biotech company's experimental vaccine for COVID-19 showed it was safe and provoked immune responses in an ongoing early-stage study. Extended trade in S&P 500 emini futures suggested investors expect Wall Street to rise on Wednesday, with the futures climbing 0.8%.
Stock futures opened higher Tuesday evening after newly published data from Moderna fueled hopes that a vaccine providing protection against Covid-19 would be developed in the relative near-term.
Three of the largest U.S. banks reported Tuesday that their loan loss provisions had grown by almost $23 billion to over $81 billion, illustrating the pessimism over the economic path ahead.
Bank earnings to the downside, oil stocks moving up, but COVID-19 is in the background, threatening the economy and the market rally.
Sea Limited Sponsored ADR (SE) closed the most recent trading day at $113.30, moving -0.31% from the previous trading session.
Salesforce.com (CRM) closed at $189.56 in the latest trading session, marking a +0.65% move from the prior day.
Eli Lilly (LLY) closed at $163.88 in the latest trading session, marking a +1.11% move from the prior day.
In the latest trading session, Shopify (SHOP) closed at $974.41, marking a +0.58% move from the previous day.
Boulder Community Health (BCH) and Optum today announced a comprehensive new relationship focused on advancing delivery of high-quality, convenient and affordable health care to patients across Boulder County and surrounding communities. Optum brings an extensive set of capabilities to this innovative partnership to help BCH further advance its clinical and operational performance.
(Bloomberg) -- Google is in advanced talks to buy a $4 billion stake in Indian billionaire Mukesh Ambani’s technology venture, people familiar with the matter said, seeking to join rival Facebook Inc. in chasing growth in a promising internet and e-commerce market.The Mountain View, California-based company has been discussing the investment in Jio Platforms Ltd., the digital arm of Ambani’s Reliance Industries Ltd., the people said, asking not to be identified because the information is private. An announcement could come as soon as the next few weeks, according to the people.Jio is at the center of the Indian tycoon’s ambition to transform his energy conglomerate into a homegrown technology behemoth akin to China’s Alibaba Group Holding Ltd. The venture has turned into a magnet for Silicon Valley investors, attracting almost $16 billion from Facebook to KKR & Co. in the past three months.Should the talks with Google result in a deal, that would further burnish Jio’s credentials in its push to upend online retail, content streaming, digital payments, education and health care in a market of more than a billion people.Global technology leaders from Facebook to Intel Corp. are looking for multiple ways to grab a slice of the Indian market, where millions of first-time internet users are added every month. Jio Platforms, which boasts almost 400 million customers through its wireless network, offers the largest base of such users who are increasingly buying consumer goods online and downloading music and video, using cheap smartphones and Jio’s own cut-price data services.Trade war politics have all but eliminated Google’s odds of returning to China. That leaves India as one of the remaining large digital markets where Google’s key business lines, Search and YouTube, have room to grow. It’s also a country where Google has made headway in more nascent efforts, such as payments and health care.Chetan Sharma, a tech industry consultant, said cloud-computing is the main reason Google is investing in Jio. The move would also support Google’s Android smartphone operating system and its mobile payments efforts in the country, he added.Telecom giants are turning to cloud-computing for their next wave of expansion. As a provider, Google has lagged behind competitors in this growing sector, Sharma said. “Google has been more reactive than proactive,” he said. “This gives them a leg in.”Last year, Reliance entered a 10-year deal with Microsoft Corp. for cloud services. The announcement did not describe the partnership as exclusive, and Google’s cloud strategy has centered on offering businesses ways to spend across multiple providers.Read more: Facebook Helps Asia’s Richest Man Shed Dependence on OilAn arm of Qualcomm Inc. is the latest in Jio’s growing list of high-profile investors, which also includes Intel Capital, Silver Lake Partners and Mubadala Investment Co. As of July 12, Reliance had sold 25.2% of Jio, valuing the venture at $65 billion.Google invests widely in companies, through its venture capital units as well as off its own balance sheet. A $4 billion investment would be the largest Google has made in a company outside of the U.S.Here’s a list of confirmed investors in Jio Platforms:Details of the potential deal with Google could change, and negotiations could still be delayed or fall apart, the people said. Reliance’s representatives didn’t immediately respond to requests for comment. A spokeswoman for Google in California declined to comment on Tuesday.The string of investments in Jio has spurred a rally in the shares of parent Reliance. The stock has more than doubled from its March 23 low, rewarding investors who will get to hear Ambani, 63, lay out his road map for the future of the group at the conglomerate’s annual shareholders meeting on Wednesday.The stock surge has also helped Ambani, Asia’s richest man, to break into the exclusive club of the world’s 10 wealthiest people. With a net worth of $72.4 billion, according to the Bloomberg Billionaires Index, the titan has rocketed past Elon Musk, Google co-founders Larry Page and Sergey Brin, as well as legendary investor Warren Buffett in the past few days to become sixth on the list.Just like Facebook, Google is expanding its presence in the Indian market. On Monday, the company said it plans to spend $10 billion over the next five to seven years to help accelerate the adoption of digital technologies in the country. The amount could be put into partnerships and equity investments among others, it said.Sundar Pichai, who was born in the country and is now chief executive officer of Google parent Alphabet Inc., said the coronavirus outbreak has made clear the importance of technology for conducting business and connecting with friends and family.Founded in 1998 in Silicon Valley, Google entered India six years later with offices in Bangalore and Hyderabad. The India business has since grown into one of the company’s most important. The country now has more than 500 million internet users, second only to China, with growth that has proved a lure to a raft of American technology giants.In the last decade, Google has successfully launched several products in India, including an Internet Saathi service to bring women in rural areas online and its Google Pay service.(Updates with Google strategy in sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Wall Street ended higher on Tuesday, led by a surge in the Dow Jones Industrial Average, as investors bought energy and materials stocks and looked beyond a recent surge in coronavirus cases. Limiting gains in the Nasdaq and S&P 500, Amazon lost ground, extending a rotation that began Monday out of many big-name technology and momentum stocks that have led much of the U.S. stock market's rebound since March.
Wall Street rose on Tuesday, led by energy and materials, as investors looked beyond a recent surge in coronavirus cases and rotated out Amazon and other recent strong performers. The S&P 500 energy, materials industrial , health and consumer staples indexes all jumped more than 1%. Limiting gains in the Nasdaq and S&P 500, Amazon fell 1.1%, extending a rotation that began Monday out of many big-name technology and momentum stocks that have led much of the U.S. stock market's rebound since March.
Unlike other the other two big banks that reported on Tuesday, its results fell well short of analysts' consensus estimates.
The S&P 500 and Dow indexes edged higher in volatile trading on Tuesday as investors digested a mixed bag of quarterly earnings reports from U.S. lenders but technology stocks fell on worries over new business restrictions in California. Citigroup Inc was also down 2.5% as it reported a steep fall in quarterly profit. The S&P 500 banks index slumped 1.6% as the three banks set aside a combined $28 billion to cover potential losses on loans to borrowers hurt by the coronavirus pandemic.
Big swings in stock and bond markets since March have helped big Wall Street banks weather the coronavirus downturn better than they otherwise might have, but their trading-revenue gains are unlikely to last. On Tuesday, JPMorgan Chase & Co and Citigroup Inc reported upticks of 77% and 48% in quarterly markets revenue, respectively - far better than what many analysts had predicted. It was the second consecutive period of major trading increases, as investors reacted to a changing portrait of how severe the pandemic might be, as well as government stimulus programs to prop up economies and markets.
(Bloomberg) -- Shares of JPMorgan Chase & Co. were little changed, Citigroup Inc. slipped and Wells Fargo & Co. sank as analysts assessed the banks’ better-than-expected second-quarter capital markets results and cautious views as the coronavirus pandemic rippled through the global economy.Chief executives at all three lenders warned that outlooks had deteriorated since last quarter, while Wells Fargo slashed its dividend more than analysts anticipated.JPMorgan spoke of a protracted downturn and said government stimulus was making it harder to gauge the economic damage from the pandemic, with Chief Executive Officer Jamie Dimon saying, “this is not a normal recession.” Dimon also predicted trading results would eventually revert to historic norms.JPMorgan erased most of a 2.4% gain Tuesday in New York after fixed-income, currencies and commodities sales (FICC) and trading revenue of $7.34 billion topped an average estimate of $5.74 billion. Record markets revenue, up 79%, and investment banking fees, up 54%, “more than offset interest-rate headwinds and reduced consumer activity,” Dimon said in the bank’s statement. He also expressed confidence in the bank’s current dividend.Citigroup fell as much as 3%. The bank’s FICC sales and trading revenue of $5.6 billion exceeded the average projection of $4.59 billion, echoing JPMorgan’s earlier beat, though not by as much. Cost of credit of $7.9 billion reflected an allowance for credit loss builds due to a “deterioration in Citi’s macroeconomic outlook since the end of the first quarter,” along with corporate loan downgrades, the bank said in a statement. The added reserves also included a “qualitative management adjustment” for more “stress and/or a somewhat slower economic recovery.”Wells Fargo tumbled as much as 8.2%, to the lowest since May 15, after reporting its first quarterly loss since 2008 and cutting its dividend by more than analysts had expected, to 10 cents a share. Wells’ second-quarter net loss of $2.4 billion included an $8.4 billion increase in its credit loss reserve, driven by “current and forecasted economic conditions.”“We are extremely disappointed in both our second-quarter results and our intent to reduce our dividend,” CEO Charlie Scharf said in the bank’s statement. “Our view of the length and severity of the economic downturn has deteriorated considerably from the assumptions used last quarter.”The KBW Bank Index, which shed as much as 2.7% Tuesday, has now tumbled 36% so far this year amid pandemic-fueled economic woes and low interest rates, underperforming the S&P 500, which has fallen 2%.Here’s a sample of the latest analyst commentary:Bloomberg Intelligence, Alison WilliamsResults were “as expected but magnified, with JPMorgan and Citi’s strong trading helping to fuel bigger loss provisions, which provides a cushion for the second half,” Williams said. “Wells Fargo’s substantially larger build did not share the same offset,” she added.Wells Fargo’s dividend cut to the “low end of bearish expectations should remove uncertainty around potential future reductions, while potentially helping to improve its case as a conservative risk manager, as it aims to remove Fed constraints.”Vital Knowledge, Adam CrisafulliJPMorgan’s “blow-out investment banking performance,” with FICC revenue up 120% from the prior year, was offset by a “huge provision number and ongoing reserve builds,” Crisafulli wrote.The tone on JPMorgan’s conference call was “neutral-to-positive for the stock in that reserve builds might have peaked,” he said. At the same time, a remark about flattening consumer sales growth across the country was a “negative macro indication.”Wolfe Research, Steven Chubak“JPMorgan took advantage of their strong trading gains by plowing a significant portion back into credit reserves, positioning the firm well for future quarters, while also building substantial capital,” Chubak wrote. While the trading momentum may not be sustainable, investors will probably “react favorably” to the strong beat and reaffirmation of net interest income and expense guidance.UBS, Saul MartinezCitigroup’s earnings-per-share was roughly in line with UBS’s estimate, as “loan loss provisions were materially higher than expected on elevated reserve builds, but sales and trading income beat our forecasts,” Martinez wrote. The result’s “most noteworthy” areas were: $5.6 billion of loan loss reserves; sales and trading and investment banking that boosted revenue; controlled expenses and a 12% year-over-year decline in Asia and Latam consumer banking revenue.“Overall, operating trends seem mixed to us, with considerable revenue pressure in consumer businesses, but expense discipline and strong results in markets oriented businesses.”Credit Suisse, Susan Roth KatzkeWells Fargo‘s earnings-per-share miss came from lower-than-expected revenue and higher-than-anticipated expenses and provision, Katzke wrote. “The question is how close this quarter gets to a bottom in earnings; it’s hard to surmise in an uncertain macro environment.”KBW, Sanjay SakhraniCredit card volume trends at JPMorgan, Wells Fargo and Citigroup were consistent with expectations, with “some greenshoots if one looked at intra-quarter trends,” Sakhrani wrote.“While T&E and restaurant volumes remain extremely weak, there has been notable improvement,” with volumes down about 50% exiting June versus a drop of 80% to 90% in early April, he said. Sakhrani will watch US Bancorp results Wednesday for “greater color” around corporate volumes, which may offer insight into what to expect from American Express.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
DuPont, a global science and innovation leader in the construction industry, announces the launch of DuPont™ Tyvek® Roof Protector™, a new product under the Tyvek® brand that provides a cooler gray color surface for builders and roofing contractors to work on. In addition to a color change, the new product features good walkability for safe working conditions, with a wrinkle-free and slip-resistant surface that allows for better traction and grip for contractors.
Philip Morris (PM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Texas Instruments (TXN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.