Computer & Technology

Declines Were Led by Value-Oriented Sectors as Opposed to Technology Stocks

TipRanks

Goldman Sachs: These 3 Stocks Are Poised to Surge by at Least 50%

Is it time for the bears to break out the champagne glasses? Not so fast, says Goldman Sachs. Volatility has ruled the Street for the last few weeks, leading some to conclude that those with a more pessimistic outlook had been vindicated, but the firm believes stocks can still climb higher.According to Goldman Sachs’ head of U.S. equity strategy, David Kostin, the S&P 500 could still hit 3,600 by the end of the year, and 3,800 by mid-2021, on the back of vaccine-related optimism and progress with the economic reopening. This would reflect gains of 10% and 16%, respectively, should the index ultimately reach these targets.“Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months. The Superforecaster probability of a mass-distributed vaccine by Q1

Read More

Oracle, Walmart To Invest In TikTok Global After Trump’s Approval

Oracle (ORCL) and Walmart have issued a joint statement confirming their plans to snap up a minority stake in TikTok’s U.S. business. Oracle will acquire a 12.5% stake in TikTok Global, while Walmart will take a 7.5% interest.

The move came after President Donald Trump approved the deal “in concept” on Saturday. The President has also announced that TikTok’s Chinese parent ByteDance “has received tentative approval for an agreement with the U.S. Government to resolve the outstanding issues.”

To facilitate the deal, TikTok is creating a new company called TikTok Global, as the Trump administration was concerned about TikTok’s Chinese ownership and therefore demanded that TikTok’s Chinese parent, ByteDance, divests its U.S. operations to America.

TikTok Global will be an independent American company and will be majority owned by American investors. The new company also has plans to bring 25,000 jobs across the country. (See ORCL

Read More

Papa John’s creating new global headquarters in Atlanta, shifting some jobs out of Louisville

LOUISVILLE, Ky. – Papa John’s announcement Thursday that it’s creating a new global headquarters in Atlanta came with assurances to allay fears that, yet again, another corporation headquartered in Louisville is heading for greener pastures.

The homegrown pizza chain said Georgia’s biggest city will become Papa John’s second base of U.S. operations with key departments, including marketing and franchise development, heading south.

That drew a worried response from John Schnatter, the company founder who said he was “saddened” by the decision. Despite pledging to maintain a presence in Louisville, “I’m concerned that the relationship won’t be the same as it was for three successful decades,” Schnatter said in a statement.

The company said about 550 of its 750 corporate jobs would remain in Kentucky, a decision that chief executive Rob Lynch insisted speaks volumes about the company’s continuing commitment to Louisville.

“We’re happy and excited to maintain a large corporate

Read More

Financial technology will play an important role in the country’s economic recovery

Revolut is one of many fintech firms that contribute billions to the UK economy
Revolut is one of many fintech firms that contribute billions to the UK economy

Fintech is a true UK success story, providing 76,500 jobs, 1,600 firms, and £7bn for our economy. There was £4.1bn of venture capital investment in UK fintech firms last year. It is now up to all of us to ensure it remains so.

The importance of fintech is about more than just the hard numbers. Small innovative firms bring energy, ideas and growth to hubs across the UK, contributing to our society in many ways. People will of course understand that new tech-enabled services are transforming the way we buy, sell and manage our money. Indeed, many of these proved crucial as we adapted to the pandemic. But fintech firms are regularly first to embrace new approaches, like the flexible virtual working that businesses of all sizes are now considering well beyond Covid-19. Their dynamism

Read More

Mixed day for global stocks amid troubles with Brexit, US tech

World stock markets were mixed Friday as European traders mulled Britain’s increasingly acrimonious war dance with the EU, while in the United States technology shares continued to pull back.

Sterling remained under pressure as Britain sparred with Brussels, rejecting an ultimatum to withdraw controversial Brexit legislation but agreeing to extend talks next week.

On the plus side for British industry, a stuttering currency — which hauled itself off multi-month midweek lows — has been helping to boost share prices of index multinational’s earnings in dollars.

Those increases helped London’s FTSE index gain ground on Friday.

After Thursday’s sterling selloff, the pound was stable on Friday amid news the British economy expanded 6.6 percent — albeit still well off pre-coronavirus levels.

“Ultimately UK investors will probably thank the UK government for pushing down sterling and allowing the FTSE the room to recover 6000 (points),” said Chris Beauchamp, chief market analyst at

Read More

Do Hedge Funds Love New Oriental Education & Technology Group Inc. (EDU)?

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Stocks kept going up since then. In this article we look at how hedge funds traded New Oriental Education & Technology Group Inc. (NYSE:EDU) and determine whether the smart money was really smart about this stock.

New Oriental Education & Technology Group Inc. (NYSE:EDU) investors should be aware of a decrease in activity from the world’s largest hedge funds of late. New Oriental Education & Technology Group Inc.

Read More