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TEKK - Tekkorp Digital Acquisition Corp: Who's Who of Gaming Mgmt Teams!
Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment,Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap! If you don't like to read... you don't like to make money!!!! ---------------------------------------------------------------------------------------- Matthew Davey — Chief Executive Officer and Director Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led. Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included: • OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform. • Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings. • OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets. These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018. Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University). Robin Chhabra — President Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following: • TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia. • TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs. • William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom. Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet. Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science. Eric Matejevich — Chief Financial Officer Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million. Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million. Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation. Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania. Our Board of Directors Morris Bailey — Chairman Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States. In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless. Tony Rodio — Director Nominee Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University. Marlon Goldstein — Director Nominee Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include: • TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date. • TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group. • TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion. • TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction. • TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion. Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet. Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities. Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law. Sean Ryan — Director Nominee Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division. Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division. We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles. Tom Roche — Director Nominee Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including: • Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002. • Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion. • Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets. • MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering. Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector. Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association. We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.
Unusual options activity on ERI (El Dorado Resorts)
TLDR: I advise buying June 19 20 Calls on ERI. On May 6, significant, and unusual, blocks of options were traded on ERI. A deep-pocketed buyer, likely an institution, made a bullish purchase of approx. 5000 6/19 20C's at the Ask, and a sale of the same amount of 30C's near the Bid. This bullish call was despite the falling price action that day. This represents 500k shares, or approximately 5-10% of daily volume on any given day. What makes this even more unusual is the fact that the open interest on either of those options before the purchase was less than 1000 contracts, meaning this was an incredibly large buy. Moreover, none of the other casino stocks seemed to have experienced a large bullish buy like this. For a quick overview of ERI: Eldorado Resorts is an American hotel and casino entertainment company founded and based in Reno, Nevada that operates 23 properties across 11 U.S. states. In 2019, they entered into a merger agreement with Caesars Entertainment for $18 billion in stock and cash. The merger is expected to be completed by the start of the summer. Because ERI had to resolve anti-trust issues with the merger, they've sold off numerous properties to buyers. Most of these sales were in late 2019. Despite these sales, the casinos are bleeding cash in this climate. In particular, the largest problem is the rent issue. The fact that the trade was a vertical spread, rather than a naked option purchase, means there is still time to get in on the trade. For the mysterious buyer to make any money, the price must go into the mid-20s over the next 2-3 weeks. Even with the news on Nevada taking action to reopen casinos, the stock still closed at $19.38 today. I expect a couple of potential catalysts to drive the price above $20 in the next few weeks: - ERI successfully renegotiates its lease on some of the properties for the year - ERI executes another favorable sale on a property, deleveraging its financial position - ERI gets approval to reopen its Casinos before rivals do. As always, this is just my opinion. It is obviously risky to trade hospitality / live entertainment stocks in a pandemic like this. So do your own DD before you take any action.
First Time Investing, Did I get off to a good start?
Hey guys - my friend who's pretty savvy in the stock market finally got me to start investing today using Robinhood. He gave me a few options, told me to diversify, and gave me some good starting points. He also told me that the last few days and the next week or so will probably be pretty bad for the market, so now is a good time to buy stocks. Here's what I bought today and my reasoning behind these. Let me know if I'm off to a good start. I only spent about $1200, I have more in savings that I'm willing to spend but I'm being a little conservative as I'm just starting. My goals are more long term (5-20 years) as I don't have the time or energy to trade daily. -Nikola (NKLA): Just opened, competitor to Tesla, electric truck manufacturer. One of the hotter new stocks at the moment. I think there's room for other electric vehicle stocks alongside Tesla. I plan on buying Tesla stock once I can transfer more money to my account. -Xpress Spa (XSPA): Fresh off a 1/3 split, my friend told me it's a good time to invest since they're doing COVID-19 testing. Don't know too much about these guys, but stock was cheap. -Ideanomics (IDEX): Friend recommended this to me since it was cheap. Also did some research and saw they're planning on facilitating purchases of commercial electric vehicles. They've already made deals for commercial buses in China. Was only $1.01 a share today. -Draft Kings (DKNG): Not only a casual user of the app, but sports gambling is going to explode in the next 1-5 years. -Eldorado Resorts (ERI): Purchased Caesar's Palace and will be the first casino partner of the NFL. That alone is a good sign of future success, along with the fact that there are more and more pro sports teams moving to Vegas. -Penn National Gaming (PENN): Owns 36% of Barstool Sports which has become one of the leaders in the sports blogging industry. Also owns 40+ gambling/gaming locations throughout the country. -GAN Ltd (GAN): Online Casino Gaming -Heico (HEI): Specializes in aerospace avionics, components and spare parts. Also makes medical equipment like ventilators, X-Ray systems, sterilization, and personal protective equipment. This was me trying to diversify and I did some research and it seemed like a solid buy. -II-VI (IIVI): Friend told me to look in to some optics companies as they will be strong in the future of manufacturing. I did some research and found II-VI, which makes opto-electronic components for a wide range of manufacturers. -Viavi (VIAV): Network test, assurance, and measurement company that tests equipment for networks. Don't know TOO much about this, but have seen it on multiple articles as a solid stock with the upcoming 5G revolution and ever expanding network across the world. So this next section is what's on my watchlist. Since I was being so conservative, I did multiple transactions and used all of my deposits....so I put these on my watchlist because I'm probably going to buy these next: -Tesla, for obvious reasons -Qualcomm (QCOM): Finally made peace with Apple and will be supplying chips for the iPhone for next 6 years. With 5G inevitably booming in the next few years, I saw this as a must buy. -Ericsson (ERIC): As a communications-equipment company who will be rolling out 5G technology worldwide, I saw this as a great buy. They also sell software and radio hardware and has a deal with Oppo, the Chinese smartphone manufacturer. Expects 2.6 billion 5G subscriptions by 2025 and is only selling at $8.76/share. -Verizon (VZ): Just another attempt to get in on the 5G revolution. -PowerShares S&P 500 High Dividend Low Volatility ETF (SPHD): Watched some YouTube videos and I really liked what YouTuber Andre Jikh had to say about a few ETFs and Dividends. I like the sound of ETFs as they take a lot of work out of investing, provide consistent dividents, and aren't volatile. -Vanguard Total Stock Market ETF (VTI): Want for the same reasons as SPHD, but after some research see that it's a bit more growth oriented (albeit volatile?) than SPHD. Thought it be good to grab this along with SPHD as it also gives dividends. So...like I said I am a complete beginner in investing in stocks and really did all of this just by googling stuff and doing some research, watching youtube videos, etc. Please tell me if I'm an idiot about ANY OF THESE stocks and why I'm wrong, because that's why I'm posting this. Also - what are some great FREE resources to use to get more stock education, advice, and trends on the market?
Today's Pre-Market Movers & News [Monday, March 30th, 2020]
Good morning traders and investors of the wallstreetbets sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures were pointing to a modest decline for the Dow Jones Industrial Average at Monday’s open after President Donald Trump extended national social distancing guidelines to April 30. The Dow, which closed 4% lower Friday, did soar 12.8% for the week, logging its best weekly gain since 1938 and raising questions about whether blue chips have bottomed. However, heading into Monday’s session, the Dow was still nearly 27% off last month’s record highs. The yield on the 10-year Treasury remained below 1% early Monday. U.S. oil prices sank below $20 per barrel, near 18-year lows hit earlier this month.
On Sunday, mortgage bankers warned that Federal Reserve mortgage purchases are unbalancing the home lending market. In addition to the Fed’s extraordinary no limit fixed-income purchases, Wall Street analysts and economists said it would not be out of the question to see the central bank take for the first time ever a passive interest in the performance of the stock market.
Preparing the nation for a death toll that could exceed 100,000 from the coronavirus, Trump on Sunday walked back his previous remarks about wanting to reopen the country for business by Easter. In continuing social distancing until the end of next month, the president said, “Nothing would be worse than declaring victory before the victory has been won.” Earlier on Sunday, White House health advisor Dr. Anthony Fauci said the country could see up to 200,000 deaths and millions of infections. However, he also cautioned that those numbers are based on outbreak modeling and nothing is certain.
The U.S., which has the most known coronavirus infections in the world, saw confirmed cases jump to over 143,000 with 2,513 deaths, according to Johns Hopkins University data. New York has about 40% of those cases and fatalities. A field hospital has been set up inside New York’s Central Park to treat coronavirus patients. Abbott Laboratories, which received FDA emergency use authorization on Friday for a test that can detect coronavirus in 5 minutes, was praised by Trump. “Abbott has stated that they will begin delivering 50,000 tests each day, starting this week,” he said. Abbott shares were soaring about 8% in the premarket.
Global coronavirus cases increased to over 730,000 with 34,685 deaths and more than 149,000 recoveries. Italy, No. 2 to the U.S. in cases with about 97,700, has the worst death toll. Italy’s 10,779 fatalities are more than three times as many as China’s 3,308 deaths. Rounding out the top three, Spain just surpassed China in infections, with over 85,000 cases and more than double China’s death toll at 6,803. China, where the pandemic started in December, has the world’s fourth most known infections, nearing 82,200 cases. Germany is No. 5 in worldwide cases at about 62,400. It has 541 deaths.
Amazon warehouse workers in Staten Island, one of the five boroughs of New York City, plan to strike on Monday to call attention to what they claim is the lack of protections for employees. Chris Smalls, a management assistant and a lead organizer of the strike, told CNBC that workers at the fulfillment center known as JFK8, have grown increasingly concerned about coming into work after an employee tested positive for the coronavirus there last week. Amazon told CNBC that the company was supporting the individual in quarantine and asked anyone who was in contact with the worker to stay home with pay for two weeks. JFK8 remains open.
Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.
Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the coronavirus outbreak.
Sanofi (SNY), Regeneron Pharmaceuticals (REGN) – The drugmakers expanded a clinical trial of their rheumatoid arthritis drug Kevzara as a coronavirus treatment. The trial now includes patients outside the U.S., after beginning in America last week.
United Technologies (UTX), Raytheon (RTN) – The defense contractors have received all regulatory approvals for their all-stock merger, and expect to close the deal prior to the open on Friday. United Technologies will be renamed Raytheon Technologies and trade under the ticker “RTX.” The Carrier and Otis businesses of United Technologies will become separate publicly traded companies, trading under ticker symbols “CARR” and “OTIS,” respectively.
La-Z-Boy (LZB) – La-Z-Boy furloughed 6,800 workers, cut the pay of senior management by 50%, and of salaried workers by 25%. The furniture maker also eliminated its June dividend and stopped its share repurchase program indefinitely.
Tegna (TGNA) – Tegna said it has held talks with two of four interested parties about their takeover proposals for the regional TV station operator. Those talks have stopped, however, due to the disruption caused by the coronavirus outbreak.
Jefferies (JEF) – Jefferies said its Chief Financial Officer Peg Broadbent has died from the coronavirus. The investment bank named Teri Gendron, the CFO of the company’s financial services arm, as Broadbent’s successor.
Gilead Sciences (GILD) – Gilead said it would stop taking individual emergency requests for its experimental coronavirus drug due to overwhelming demand.
Eldorado Resorts (ERI) – Eldorado’s deal to buy rival casino operator Caesars Entertainment (CZR) could be in danger, according to the New York Post. The paper said regulators have delayed their review of the $17.3 billion deal due to the virus outbreak, while the casino industry takes a hard hit from ongoing closures.
Novartis (NVS) – Novartis CEO Vas Narasimhan told a Swiss newspaper that its malaria drug hydroxychloroquine is the drugmaker’s biggest hope against COVID-19.
Papa John’s (PZZA) – Investor advisory firm ISS said retired basketball superstar Shaquille O’Neal should not be re-elected to the board of the pizza chain, according to a Bloomberg report. ISS said O’Neal skipped too many board meetings and that shareholders should vote against his re-election at the April 23 annual meeting.
Procter & Gamble (PG), Kimberly-Clark (KMB) – Jefferies upgraded both consumer products makers to “buy” from “hold,” noting that both are benefiting from the “pantry-loading” taking place due to the coronavirus outbreak.
Today's Pre-Market Movers & News [Monday, March 30th, 2020]
Good morning traders and investors of the StockMarket sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures were pointing to a modest decline for the Dow Jones Industrial Average at Monday’s open after President Donald Trump extended national social distancing guidelines to April 30. The Dow, which closed 4% lower Friday, did soar 12.8% for the week, logging its best weekly gain since 1938 and raising questions about whether blue chips have bottomed. However, heading into Monday’s session, the Dow was still nearly 27% off last month’s record highs. The yield on the 10-year Treasury remained below 1% early Monday. U.S. oil prices sank below $20 per barrel, near 18-year lows hit earlier this month.
On Sunday, mortgage bankers warned that Federal Reserve mortgage purchases are unbalancing the home lending market. In addition to the Fed’s extraordinary no limit fixed-income purchases, Wall Street analysts and economists said it would not be out of the question to see the central bank take for the first time ever a passive interest in the performance of the stock market.
Preparing the nation for a death toll that could exceed 100,000 from the coronavirus, Trump on Sunday walked back his previous remarks about wanting to reopen the country for business by Easter. In continuing social distancing until the end of next month, the president said, “Nothing would be worse than declaring victory before the victory has been won.” Earlier on Sunday, White House health advisor Dr. Anthony Fauci said the country could see up to 200,000 deaths and millions of infections. However, he also cautioned that those numbers are based on outbreak modeling and nothing is certain.
The U.S., which has the most known coronavirus infections in the world, saw confirmed cases jump to over 143,000 with 2,513 deaths, according to Johns Hopkins University data. New York has about 40% of those cases and fatalities. A field hospital has been set up inside New York’s Central Park to treat coronavirus patients. Abbott Laboratories, which received FDA emergency use authorization on Friday for a test that can detect coronavirus in 5 minutes, was praised by Trump. “Abbott has stated that they will begin delivering 50,000 tests each day, starting this week,” he said. Abbott shares were soaring about 8% in the premarket.
Global coronavirus cases increased to over 730,000 with 34,685 deaths and more than 149,000 recoveries. Italy, No. 2 to the U.S. in cases with about 97,700, has the worst death toll. Italy’s 10,779 fatalities are more than three times as many as China’s 3,308 deaths. Rounding out the top three, Spain just surpassed China in infections, with over 85,000 cases and more than double China’s death toll at 6,803. China, where the pandemic started in December, has the world’s fourth most known infections, nearing 82,200 cases. Germany is No. 5 in worldwide cases at about 62,400. It has 541 deaths.
Amazon warehouse workers in Staten Island, one of the five boroughs of New York City, plan to strike on Monday to call attention to what they claim is the lack of protections for employees. Chris Smalls, a management assistant and a lead organizer of the strike, told CNBC that workers at the fulfillment center known as JFK8, have grown increasingly concerned about coming into work after an employee tested positive for the coronavirus there last week. Amazon told CNBC that the company was supporting the individual in quarantine and asked anyone who was in contact with the worker to stay home with pay for two weeks. JFK8 remains open.
Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.
Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the coronavirus outbreak.
Sanofi (SNY), Regeneron Pharmaceuticals (REGN) – The drugmakers expanded a clinical trial of their rheumatoid arthritis drug Kevzara as a coronavirus treatment. The trial now includes patients outside the U.S., after beginning in America last week.
United Technologies (UTX), Raytheon (RTN) – The defense contractors have received all regulatory approvals for their all-stock merger, and expect to close the deal prior to the open on Friday. United Technologies will be renamed Raytheon Technologies and trade under the ticker “RTX.” The Carrier and Otis businesses of United Technologies will become separate publicly traded companies, trading under ticker symbols “CARR” and “OTIS,” respectively.
La-Z-Boy (LZB) – La-Z-Boy furloughed 6,800 workers, cut the pay of senior management by 50%, and of salaried workers by 25%. The furniture maker also eliminated its June dividend and stopped its share repurchase program indefinitely.
Tegna (TGNA) – Tegna said it has held talks with two of four interested parties about their takeover proposals for the regional TV station operator. Those talks have stopped, however, due to the disruption caused by the coronavirus outbreak.
Jefferies (JEF) – Jefferies said its Chief Financial Officer Peg Broadbent has died from the coronavirus. The investment bank named Teri Gendron, the CFO of the company’s financial services arm, as Broadbent’s successor.
Gilead Sciences (GILD) – Gilead said it would stop taking individual emergency requests for its experimental coronavirus drug due to overwhelming demand.
Eldorado Resorts (ERI) – Eldorado’s deal to buy rival casino operator Caesars Entertainment (CZR) could be in danger, according to the New York Post. The paper said regulators have delayed their review of the $17.3 billion deal due to the virus outbreak, while the casino industry takes a hard hit from ongoing closures.
Novartis (NVS) – Novartis CEO Vas Narasimhan told a Swiss newspaper that its malaria drug hydroxychloroquine is the drugmaker’s biggest hope against COVID-19.
Papa John’s (PZZA) – Investor advisory firm ISS said retired basketball superstar Shaquille O’Neal should not be re-elected to the board of the pizza chain, according to a Bloomberg report. ISS said O’Neal skipped too many board meetings and that shareholders should vote against his re-election at the April 23 annual meeting.
Procter & Gamble (PG), Kimberly-Clark (KMB) – Jefferies upgraded both consumer products makers to “buy” from “hold,” noting that both are benefiting from the “pantry-loading” taking place due to the coronavirus outbreak.
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What is on everyone's radar for today's trading day ahead here at StockMarket?
I hope you all have an excellent trading day ahead today on this Monday, March 30th, 2020! :)
All of Bolsonaro's Men - An Explanation on how Brazil's Current Politics and why a Cabinet Meeting is now on Youtube (Part 3)
This is the final part explaining Bolsonaro's April 22nd cabinet meeting. At the end there are some final remarks, and in the comments my sources. Braga Netto introduces Abraham Weintraub, Minister of Education Note: Weintraub currently is being sued for a racist tweet that implied China created Covid Weintraub: [...] I don't want to be a slave in this country. And end with this crap that is Brasília. This is a cancer of corruption, of privilege. [...] The people here lose perception, empathy, public relations. [...] We are losing the fight for liberty. This is what the people is calling for. They are not calling for more State, for more projects, to have more ... the people are calling for liberty, full stop. Note: This right now is one of the most controversial moments of the meeting, with the Supreme Court taking legal action on what he says right now Weintraub: In my opinion, I'd arrest all those lazy bums. Starting with the Supreme Court. [...] I notice there's many people with a personal agenda. [...] I have a bunch of lawsuits in the ethics committee of the presidency. I'm the only one here that took a lawsuit. [...] I'm really here with an open chest, as you know it, I get shot ... hate ... hate the Communist Party [Redacted] They are trying to turn us into a colony. [...] We need to end this thing of people and privileges. [...] Bolsonaro: Let me complement this. What Weintraub is saying - I'm 65 - we get close to people we shouldn't. I have to police myself in regards to that. It's people here in Brasília, of the three powers, that don't know what's the people. I talk to a few, don't know what's rice and beans, don't know what's a supermarket. Forgot. Think that money falls from the sky. "I have my guaranteed privileges, my 100k per month" on average, 100k per month they earn, right? Legally. And think this will never end. Like some think the liberty "What's the deal with that guy, is he crazy?" I see the oldest one here, General Heleno here. He knows what is six, what was sixty four. Many of the ones here don't know. The people that tried to get into power in sixty four, if they had arrived, we were all fucked here. Cutting ... super happy if we were cutting sugarcane earning twenty USD per month. Can't forget that Note: reference to how it is claimed that the military did the coup in 64 to prevent a socialist revolution Bolsonaro: We can't forget who this people is. I'll invite the ministers to go on Sunday visit Ceilândia and Taguatinga. (Two local neighbourhoods). It's an invitation, not a ... not a mission no. Invitation. To see how the guy in the corner is doing. So that some piece of shit comes up and says, right? Same pieces of shit as always "Ah but the guy broke isolation. You're giving a terrible example" Ok ... Bad example is my dick, fuck! Worst is to starve! You're in shit, fuck! Feel how the people smell, like I said, there. It's an experience for every politician to feel! Go there and see how it is. Or there's people that is, like it was, right, huh? A general in the rear letting the troops get fucked in front. No! The General is, is in the front, the colonel is in the front, the captain is in the front. Our heroes of WW2 had ahead of them a battlefield. If it was needed, I'm sure, our armed forces will do their job, but, right? We have to give an example and show what Brazil isn't - I'm less rude than Weintraub, improved a lot, right? In the language he used - but that's not what people say around. Meeting around midnight, here and there. Informations systems, mine works. Bolsonaro: My particular one works. The ofi ... which have officially, misinform. And back to the theme, I prefer not to have information than to be misinformed by the system of informations that I have. So, people, many will be able to leave Brazil, but I don't want to leave and see my sister form Eldorado, another from Cajati, my poor brother Army captain from ... from ... from ... from Miracatu getting fucked, fuck! It's being pursued all day long! And then the shit Folha de São Paulo, says my brother was kicked from a slaughterhouse, buying meat without a mask. Proved in writing, he was in São Paulo that day. The owner of ... of restaurant of ... of ... of ... of the slaughterhouse said he wasn't there. And that's it. I know it's his problem, right? But the bullshit is the whole time to hit me, messing with my family. I already tried to change the staff of our security in Rio, officially, and wasn't able to! And this ended. I'm not going to wait to fuck my entire family, of bullshit, or friends of mine, because I couldn't switch someone from our frontline security in our structure. It'll switch! If I can't switch, I'll switch his boss! Can't switch his boss? Switch the minister! Full stop! We're not joking here (note): the minister and one of the bosses mentioned here are Ramagem and Moro Bolsonaro: And then some kid shows up, with - all due respect - the one from BNDES, ok? I met him when he wore shorts, and ... Fuck, he came from the United States over here, could very well be there. Came here to try to change Brazil invited by Paulo Guedes, who is a friend of his parents. Coincidence, isn't it Paulo Guedes? Bolsonaro: I don't think so. .. I don't remember your parents, I remember you, fuck! All right? But it's someone I'm investing here. And all of those have to think about this. What these sons of bitches want, huh Weintraub, is our freedom. Look, how it is, how easy it is to impose a dictatorship in Brazil. How easy it is. Everybody is home. This is why I want, the Justice and Defense Ministries, let the people be armed! It's the guarantee that some son of a bitch won't show up to impose a dictatorship here! How easy it is to impose a dictatorship! Ridiculously easy! Some bullshit mayor makes some bullshit decree, handcuffs, keeps everybody home. If they were armed, they would go to the street. If I was dictator, right? I'd want to disarm the population, like they did in the past when they wanted, before imposed their respective dictatorship. Then, what's our demonstration, I ask Fernando (Minister of Defense) and Moro that please, sign in the Executive Order today and I want to give a bitch of a note to these pieces of shit! Because why am I arming the people? Because I don't want a dictatorship! There's no way to hold back! Right? No way to hold back. Yeah, who won't accept my flags Damares: "family, God, Brazil, guns, freedom of speech, free market". Who won't accept this is in the wrong government. Wait until twenty two, right? Your Álvaro Dias. Wait for Alckmin. Wait for Haddad. Or maybe Lula, right? Go be happy with them, fuck? In my government it's wrong! It's make the armament question obvious here. I want everybody armed! The armed people will never be enslaved. And that each one does, does your job. Expose yourself. Here I already said: you'll lose the ministry if you get spoken positively by Folha or by Globo! By Antagonista! Right? So there are some blogs there that only have good news from the ministers. No idea how! The president ... takes a beating, but the minister is congratulated. And then we see around. "Ah, the government is, the ... the ministry is doing well, although the president." Go fuck yourself, fuck! I picked the team, fuck! We switched five. Hope I won't have to switch anybody else! I hope! But we have to, in Weintraub's line, in a more gentle way, right? It's ... caring about this. What the guys want is our hemorrhoid! It's out liberty! This is a truth. What these guys did with the virus, this piece of shit governor of São Paulo (João Dória), this shit from Rio de Janeiro (Wilson Witzel), amongst others is exactly that. Made use of the virus, there's a piece of shit mayor in Manaus now, opening mass graves. A piece of shit. Who doesn't know his history, try to learn, which I met inside the House, with him next to me! Right? And we know the ... his ideology and what he preaches. And what he always was. It's what ... he's making use now, of a climate like this, to bring terror to Brazil. Right? So people, please, care about was important with everybody's life, what is your liberty. An arrested man is worth shit. (note: the mayor of Manaus, Artur Virgílio Neto is the son of Artur Virgílio, a Congressman who was exiled and stripped of his position after the military shutdown the Congress under accusations of being communist) Braga Netto introduces Paulo Guedes Guedes begins by presenting a more moderate stance. Saying that although they are breaking of from the establishment, they need to work together to pass the reforms. He then mentions a conversation that he had with the G20 Ministers of Economy and the BRICS. Also mentions the pension reform and how it passed in contrast to France. "Now, the same thing, I've been saying: we are deepening the reforms, we are continuing, we are following". Followed up by saying how he doesn't believe in dogmas, how Brazil was heading in a strong direction, but suddenly crashed. Brazil was one of the first countries to prepare to alleviate the crisis financially, and in his opinion, it's only worse than the United States because Powell and the Fed put out money to help keep markets afloat. Also of note is that part of the economic recovery plan involves unconventional methods, like allowing taxes to be paid later while moving forward government benefit payouts, as they were limited by the constitution. It's been planned to cost around three hundred and something billion, last deficit under Temer was around one hundred sixty. These plans reach seventy million Brazilians. "We made a banking committee, we are there with Montezano now doing exactly the restructuring. There won't be easy work for airlines, none of this. We are putting in money, and it's going to work using the best financial technology available. We are putting in money, and it's going to work and we are going to turn a profit. We are going to turn a profit using public resources to save large companies. Now, we are going to lose money saving small companies. Guedes insists the necessity to continue with the reforms mid pandemic, using the bailouts to reform the economy. "A Marshall Plan per year". Insists on lowering interest rates, and blocking government raises for two years. In his own words, you can't impeach if you're going by the book. "And the president is in the future, because the president said the following: ok, there's the first wave, which is health, but there's the second one that's the economy, and one follows the other. We are still trying to leave the first ... and the second is trying to arrive. I still think we are preserving the vitals of the Brazilian economy". He mentions how the economy will likely be held by the expected large soy production and new logistic projects. A mention of China is also present, as for every USD exported to the US, Brazil exports three to China. Mourão and Guedes talk about this, but it is redacted. In Guedes' words, "We are going to sell our soy to them This we can sell as much as we want. They have to eat, they have to eat. India also needs to eat, they'll need water. They'll say it's the best water trade. Strangely, it's also suggested to have a mobilization of the Young Apprentices Program working with the military, as they could be paid with government spending. He criticizes Damares for being against casinos, mentioning Macau. In his own words "the president speaks about liberty. Let everybody get fucked the way they wan't. Especially if he's overage, vaccinated, and a billionaire. Let him get fucked, fuck!" Also mentioned is a meeting with the US Ambassador, who says there is a few hundred billion dollars earmarked for investments in Brazil, but dependent on a good business environment. "Simplified taxation, juridical safety". He also recommends signing the General Purchase Agreement, and joining into the OECD to allow for more government transparency, allowing for improved trade. Bolsonaro then says he has Trump's support. Guedes disagrees "we can't lose the opportunity of having the president being this friendly with Trump". Tereza Cristina (Agriculture) speaks briefly about how countries are shifting to have government stocks of food post COVID. Currently Brazil is not self sufficient in wheat production, most of it is imported from neighbouring Argentina. Of course, funding is an issue, but there is two million acres set aside in the Matopiba region ready to invest in. 9% interest rates are an issue according to her. Bolsonaro asks if the Banco do Brasil (another one of Brazilian Government Banks) can help Guedes intervenes "Banco do Brasil is neither an armadillo or a snake. It's neither private or public. If you pressure Rubem (head of the bank), poor him. He's super liberal, but if you pressure him and he says "lower the rates", he goes "I can't or else the team, the private, my minoritaires, pressure me". Then if you say "put interest rates high", he goes "I can't or else the government pressures me". Banco do Brasil is a ready case to privatize. It's a ready case and we aren't doing this step. Have you sir noticed that the BNDE and the ... the ... the Caixa which are our, public, we do what we want. Banco de Brasil we can't do anything and we have a liberal there. So we need to sell this shit fast. Bolsonaro makes a quip about Rubem not being invited to the next meeting. Rubem explains how even in the changing situation Banco do Brasil has expanded loans, and the bank doesn't have liquidity issues. At the same time, the bank handles the payments for public companies and the military, which are more stable than private companies. Guedes makes a joke about him to "confess his dream". In Rubem's own words "In regard to privatizing, it's clear that with BNDES taking care of development and Caixa with the social needs, Banco do Brasil would be ready for a privatization program, right?" It is then highlighted that Banco do Brasil has some clear advantages, which would have to be sorted out by the public status. Judicial deposits and government payments would usually be handled by either Banco do Brasil or Caixa, now it's a public competition. The bank is no longer competitive in these sectors. "Then you only keep the bad sides of being a government company. We don't have the same ease in hiring, we don't have the same ease in firing bad employees and ... and ... and ... so forth". He follows with a few closing statements, about how he has to present all documents to the government comptrollers, and Covid perspectives. Braga Netto closes off the meeting. A few takeaways While the meeting was to debate the Pró-Brasil recovery plan, it ended up being more focused on Bolsonaro's gripes with his ministers. Bolsonaro has strengthened himself in this, as it shows he's still going strong in his position. This is both in the campaign promises and the way he has been underplaying Covid. What he says in the video is suspect, but is nothing that can be used as clearcut evidence in an impeachment trial. The Supreme Court has also subpoenaed his phone, but still has not reported on anything. Moro is likely the biggest loser in this. While there is evidence Bolsonaro changed command of the Federal Police for political reasons, there is still a degree of reasonable doubt. This meeting was not the silver bullet he expected. Within the Brazilian right wing, he's now seen as a traitor to a degree. Populism is a hell of a drug. Salles is one of the losers. Supporting the using the Covid news cycle to roll back environmental regulations is not a good look, especially when you're the first one to talk. There is now a movement to impeach him. Damares is another loser with this. Threatening to arrest governors due to human right violations was a bad move. Luckily, her ministry has little to no legal strength, and thus, is mostly an empty threat. Guedes on the other hand, has returned confidence to investors. While Brazil may have no clear plan to deal with Covid medically, it has a plan to deal with it economically. At the same time, there's the favorite word of a Brazilian investors - privatizing. The BOVESPA index has shot up from around 82000 points on Friday to 85400 by Tuesday's close. Weintraub now has a bad look. From having to deal with a racism case, he know is having to explain his threats against the Supreme Court. Outside of Bolsonaro's circle there is now pressure for him to resign or be sacked. Another loser, out from left field has been Bolsonaro's head of security, General Heleno. After reading the news of Bolsonaro's phone subpoena, he has stated there will be "severe implications for Brazil's democratic institutions" if Bolsonaro's phone is analyzed. Many have considered this to be an overt coup threat. He is now facing possible impeachment. Teich, which resigned after the meeting has gone through relatively unscathed. With a simple, stump speech on how Brazil can only leave the distancing after it has the virus under control and how testing must be expanded. Of note is mentioning how a plan to ease restrictions is being created. Given how there has been an expanded focus on creating medical capacity instead of waiting for the virus, it is likely that restrictions would be modified to a looser system, closer to that of Sweden.
First time buying stocks, did I make good first purchases?
Hey guys - my friend who's pretty savvy in the stock market finally got me to start investing today. He gave me a few options, told me to diversify, and gave me some good starting points. He also told me that the last few days and the next week or so will probably be pretty bad for the market, so now is a good time to buy stocks. Here's what I bought today and my reasoning behind these. Let me know if I'm off to a good start. I only spent about $1200, I have more in savings that I'm willing to spend but I'm being a little conservative as I'm just starting. My goals are more long term (5-20 years) as I don't have the time or energy to trade daily. -Nikola ($NKLA): Just opened, competitor to Tesla, electric truck manufacturer. One of the hotter new stocks at the moment. I think there's room for other electric vehicle stocks alongside Tesla. I plan on buying Tesla stock once I can transfer more money to my account. -Xpress Spa: Fresh off a 1/3 split, my friend told me it's a good time to invest since they're doing COVID-19 testing. Don't know too much about these guys, but stock was cheap. -Ideanomics ($IDEX): Friend recommended this to me since it was cheap. Also did some research and saw they're planning on facilitating purchases of commercial electric vehicles. They've already made deals for commercial buses in China. Was only $1.01 a share today. -Draft Kings ($DKNG): Not only a casual user of the app, but sports gambling is going to explode in the next 1-5 years. -Eldorado Resorts ($ERI): Purchased Caesar's Palace and will be the first casino partner of the NFL. That alone is a good sign of future success, along with the fact that there are more and more pro sports teams moving to Vegas. -Penn National Gaming ($PENN): Owns 36% of Barstool Sports which has become one of the leaders in the sports blogging industry. Also owns 40+ gambling/gaming locations throughout the country. -GAN Ltd ($GAN): Online Casino Gaming -Heico ($HEI): Specializes in aerospace avionics, components and spare parts. Also makes medical equipment like ventilators, X-Ray systems, sterilization, and personal protective equipment. This was me trying to diversify and I did some research and it seemed like a solid buy. -II-VI ($IIVI): Friend told me to look in to some optics companies as they will be strong in the future of manufacturing. I did some research and found II-VI, which makes opto-electronic components for a wide range of manufacturers. -Viavi ($VIAV): Network test, assurance, and measurement company that tests equipment for networks. Don't know TOO much about this, but have seen it on multiple articles as a solid stock with the upcoming 5G revolution and ever expanding network across the world. -Tesla, for obvious reasons -Qualcomm ($QCOM): Finally made peace with Apple and will be supplying chips for the iPhone for next 6 years. With 5G inevitably booming in the next few years, I saw this as a must buy. -Ericsson ($ERIC): As a communications-equipment company who will be rolling out 5G technology worldwide, I saw this as a great buy. They also sell software and radio hardware and has a deal with Oppo, the Chinese smartphone manufacturer. Expects 2.6 billion 5G subscriptions by 2025 and is only selling at $8.76/share. -Verizon ($VZ): Just another attempt to get in on the 5G revolution. -PowerShares S&P 500 High Dividend Low Volatility ETF ($SPHD): Watched some YouTube videos and I really liked what YouTuber Andre Jikh had to say about a few ETFs and Dividends. I like the sound of ETFs as they take a lot of work out of investing, provide consistent dividents, and aren't volatile. -Vanguard Total Stock Market ETF ($VTI): Want for the same reasons as SPHD, but after some research see that it's a bit more growth oriented (albeit volatile?) than SPHD. Thought it be good to grab this along with SPHD as it also gives dividends. So...like I said I am a complete beginner in investing in stocks and really did all of this just by googling stuff and doing some research, watching youtube videos, etc. Please tell me if I'm an idiot about ANY OF THESE stocks and why I'm wrong, because that's why I'm posting this. Also - what are some great FREE resources to use to get more stock education, advice, and trends on the market?
Today's Pre-Market Movers & News [Monday, March 30th, 2020]
Good morning traders and investors of the stocks sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures were pointing to a modest decline for the Dow Jones Industrial Average at Monday’s open after President Donald Trump extended national social distancing guidelines to April 30. The Dow, which closed 4% lower Friday, did soar 12.8% for the week, logging its best weekly gain since 1938 and raising questions about whether blue chips have bottomed. However, heading into Monday’s session, the Dow was still nearly 27% off last month’s record highs. The yield on the 10-year Treasury remained below 1% early Monday. U.S. oil prices sank below $20 per barrel, near 18-year lows hit earlier this month.
On Sunday, mortgage bankers warned that Federal Reserve mortgage purchases are unbalancing the home lending market. In addition to the Fed’s extraordinary no limit fixed-income purchases, Wall Street analysts and economists said it would not be out of the question to see the central bank take for the first time ever a passive interest in the performance of the stock market.
Preparing the nation for a death toll that could exceed 100,000 from the coronavirus, Trump on Sunday walked back his previous remarks about wanting to reopen the country for business by Easter. In continuing social distancing until the end of next month, the president said, “Nothing would be worse than declaring victory before the victory has been won.” Earlier on Sunday, White House health advisor Dr. Anthony Fauci said the country could see up to 200,000 deaths and millions of infections. However, he also cautioned that those numbers are based on outbreak modeling and nothing is certain.
The U.S., which has the most known coronavirus infections in the world, saw confirmed cases jump to over 143,000 with 2,513 deaths, according to Johns Hopkins University data. New York has about 40% of those cases and fatalities. A field hospital has been set up inside New York’s Central Park to treat coronavirus patients. Abbott Laboratories, which received FDA emergency use authorization on Friday for a test that can detect coronavirus in 5 minutes, was praised by Trump. “Abbott has stated that they will begin delivering 50,000 tests each day, starting this week,” he said. Abbott shares were soaring about 8% in the premarket.
Global coronavirus cases increased to over 730,000 with 34,685 deaths and more than 149,000 recoveries. Italy, No. 2 to the U.S. in cases with about 97,700, has the worst death toll. Italy’s 10,779 fatalities are more than three times as many as China’s 3,308 deaths. Rounding out the top three, Spain just surpassed China in infections, with over 85,000 cases and more than double China’s death toll at 6,803. China, where the pandemic started in December, has the world’s fourth most known infections, nearing 82,200 cases. Germany is No. 5 in worldwide cases at about 62,400. It has 541 deaths.
Amazon warehouse workers in Staten Island, one of the five boroughs of New York City, plan to strike on Monday to call attention to what they claim is the lack of protections for employees. Chris Smalls, a management assistant and a lead organizer of the strike, told CNBC that workers at the fulfillment center known as JFK8, have grown increasingly concerned about coming into work after an employee tested positive for the coronavirus there last week. Amazon told CNBC that the company was supporting the individual in quarantine and asked anyone who was in contact with the worker to stay home with pay for two weeks. JFK8 remains open.
Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.
Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the coronavirus outbreak.
Sanofi (SNY), Regeneron Pharmaceuticals (REGN) – The drugmakers expanded a clinical trial of their rheumatoid arthritis drug Kevzara as a coronavirus treatment. The trial now includes patients outside the U.S., after beginning in America last week.
United Technologies (UTX), Raytheon (RTN) – The defense contractors have received all regulatory approvals for their all-stock merger, and expect to close the deal prior to the open on Friday. United Technologies will be renamed Raytheon Technologies and trade under the ticker “RTX.” The Carrier and Otis businesses of United Technologies will become separate publicly traded companies, trading under ticker symbols “CARR” and “OTIS,” respectively.
La-Z-Boy (LZB) – La-Z-Boy furloughed 6,800 workers, cut the pay of senior management by 50%, and of salaried workers by 25%. The furniture maker also eliminated its June dividend and stopped its share repurchase program indefinitely.
Tegna (TGNA) – Tegna said it has held talks with two of four interested parties about their takeover proposals for the regional TV station operator. Those talks have stopped, however, due to the disruption caused by the coronavirus outbreak.
Jefferies (JEF) – Jefferies said its Chief Financial Officer Peg Broadbent has died from the coronavirus. The investment bank named Teri Gendron, the CFO of the company’s financial services arm, as Broadbent’s successor.
Gilead Sciences (GILD) – Gilead said it would stop taking individual emergency requests for its experimental coronavirus drug due to overwhelming demand.
Eldorado Resorts (ERI) – Eldorado’s deal to buy rival casino operator Caesars Entertainment (CZR) could be in danger, according to the New York Post. The paper said regulators have delayed their review of the $17.3 billion deal due to the virus outbreak, while the casino industry takes a hard hit from ongoing closures.
Novartis (NVS) – Novartis CEO Vas Narasimhan told a Swiss newspaper that its malaria drug hydroxychloroquine is the drugmaker’s biggest hope against COVID-19.
Papa John’s (PZZA) – Investor advisory firm ISS said retired basketball superstar Shaquille O’Neal should not be re-elected to the board of the pizza chain, according to a Bloomberg report. ISS said O’Neal skipped too many board meetings and that shareholders should vote against his re-election at the April 23 annual meeting.
Procter & Gamble (PG), Kimberly-Clark (KMB) – Jefferies upgraded both consumer products makers to “buy” from “hold,” noting that both are benefiting from the “pantry-loading” taking place due to the coronavirus outbreak.
Today's Pre-Market Movers & News [Monday, March 30th, 2020]
Good morning traders and investors of the smallstreetbets sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures were pointing to a modest decline for the Dow Jones Industrial Average at Monday’s open after President Donald Trump extended national social distancing guidelines to April 30. The Dow, which closed 4% lower Friday, did soar 12.8% for the week, logging its best weekly gain since 1938 and raising questions about whether blue chips have bottomed. However, heading into Monday’s session, the Dow was still nearly 27% off last month’s record highs. The yield on the 10-year Treasury remained below 1% early Monday. U.S. oil prices sank below $20 per barrel, near 18-year lows hit earlier this month.
On Sunday, mortgage bankers warned that Federal Reserve mortgage purchases are unbalancing the home lending market. In addition to the Fed’s extraordinary no limit fixed-income purchases, Wall Street analysts and economists said it would not be out of the question to see the central bank take for the first time ever a passive interest in the performance of the stock market.
Preparing the nation for a death toll that could exceed 100,000 from the coronavirus, Trump on Sunday walked back his previous remarks about wanting to reopen the country for business by Easter. In continuing social distancing until the end of next month, the president said, “Nothing would be worse than declaring victory before the victory has been won.” Earlier on Sunday, White House health advisor Dr. Anthony Fauci said the country could see up to 200,000 deaths and millions of infections. However, he also cautioned that those numbers are based on outbreak modeling and nothing is certain.
The U.S., which has the most known coronavirus infections in the world, saw confirmed cases jump to over 143,000 with 2,513 deaths, according to Johns Hopkins University data. New York has about 40% of those cases and fatalities. A field hospital has been set up inside New York’s Central Park to treat coronavirus patients. Abbott Laboratories, which received FDA emergency use authorization on Friday for a test that can detect coronavirus in 5 minutes, was praised by Trump. “Abbott has stated that they will begin delivering 50,000 tests each day, starting this week,” he said. Abbott shares were soaring about 8% in the premarket.
Global coronavirus cases increased to over 730,000 with 34,685 deaths and more than 149,000 recoveries. Italy, No. 2 to the U.S. in cases with about 97,700, has the worst death toll. Italy’s 10,779 fatalities are more than three times as many as China’s 3,308 deaths. Rounding out the top three, Spain just surpassed China in infections, with over 85,000 cases and more than double China’s death toll at 6,803. China, where the pandemic started in December, has the world’s fourth most known infections, nearing 82,200 cases. Germany is No. 5 in worldwide cases at about 62,400. It has 541 deaths.
Amazon warehouse workers in Staten Island, one of the five boroughs of New York City, plan to strike on Monday to call attention to what they claim is the lack of protections for employees. Chris Smalls, a management assistant and a lead organizer of the strike, told CNBC that workers at the fulfillment center known as JFK8, have grown increasingly concerned about coming into work after an employee tested positive for the coronavirus there last week. Amazon told CNBC that the company was supporting the individual in quarantine and asked anyone who was in contact with the worker to stay home with pay for two weeks. JFK8 remains open.
Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.
Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the coronavirus outbreak.
Sanofi (SNY), Regeneron Pharmaceuticals (REGN) – The drugmakers expanded a clinical trial of their rheumatoid arthritis drug Kevzara as a coronavirus treatment. The trial now includes patients outside the U.S., after beginning in America last week.
United Technologies (UTX), Raytheon (RTN) – The defense contractors have received all regulatory approvals for their all-stock merger, and expect to close the deal prior to the open on Friday. United Technologies will be renamed Raytheon Technologies and trade under the ticker “RTX.” The Carrier and Otis businesses of United Technologies will become separate publicly traded companies, trading under ticker symbols “CARR” and “OTIS,” respectively.
La-Z-Boy (LZB) – La-Z-Boy furloughed 6,800 workers, cut the pay of senior management by 50%, and of salaried workers by 25%. The furniture maker also eliminated its June dividend and stopped its share repurchase program indefinitely.
Tegna (TGNA) – Tegna said it has held talks with two of four interested parties about their takeover proposals for the regional TV station operator. Those talks have stopped, however, due to the disruption caused by the coronavirus outbreak.
Jefferies (JEF) – Jefferies said its Chief Financial Officer Peg Broadbent has died from the coronavirus. The investment bank named Teri Gendron, the CFO of the company’s financial services arm, as Broadbent’s successor.
Gilead Sciences (GILD) – Gilead said it would stop taking individual emergency requests for its experimental coronavirus drug due to overwhelming demand.
Eldorado Resorts (ERI) – Eldorado’s deal to buy rival casino operator Caesars Entertainment (CZR) could be in danger, according to the New York Post. The paper said regulators have delayed their review of the $17.3 billion deal due to the virus outbreak, while the casino industry takes a hard hit from ongoing closures.
Novartis (NVS) – Novartis CEO Vas Narasimhan told a Swiss newspaper that its malaria drug hydroxychloroquine is the drugmaker’s biggest hope against COVID-19.
Papa John’s (PZZA) – Investor advisory firm ISS said retired basketball superstar Shaquille O’Neal should not be re-elected to the board of the pizza chain, according to a Bloomberg report. ISS said O’Neal skipped too many board meetings and that shareholders should vote against his re-election at the April 23 annual meeting.
Procter & Gamble (PG), Kimberly-Clark (KMB) – Jefferies upgraded both consumer products makers to “buy” from “hold,” noting that both are benefiting from the “pantry-loading” taking place due to the coronavirus outbreak.
Jobs Jitters: All eyes on US jobs report this morning as global markets move higher
US Stocks Preview Ahead of the Open Green screens abound this morning with global markets and US futures moving higher, front-month Dow Jones minis are +0.33%, S&P 500 minis +0.35% and Nasdaq 100 minis +0.46% The US jobs report comes this morning and consensus is for an addition of 175,000 jobs with the unemployment rate holding steady at 3.6% Investors are nervous after the huge ADP private jobs data miss earlier in the week: Paucity of Positions: ADP data today shows fewest new jobs added in May since 2010 There has been no additional word on the potential for the US to delay tariffs on Mexico, all signs are that they will start on Monday China's Central Bank, the People's Bank of China, said it has "tremendous" policy room to adjust monetary policy if needed given the trade war raging, said governor Yi Gang in a Bloomberg interview Gang added that he is not wedded to any particular level on the yuan, and that market forces should determine the level German Industrial Production dropped 1.9% in April, the most in 4 years The VIX is little changed this morning and is currently at 15.48 after closing at 15.93 yesterday SPDR S&P 500 ETF Trust (SPY) June 7 OTM Calls & Puts, SPDR Bloomberg Barclays High Yield Bond ETF (JNK) Sept 20 OTM Puts and Cloudera (CLDR) June 18 OTM Puts are the most actively traded options in today's pre-market US 10-Year Treasury Bonds are lower with yields up 0.85 basis points to 2.1259% The US Treasury 2s-10s Spread has widened 1.36 basis points to 0.25% WTI Crude is currently up 1.76% to USD$52.59/bbl with the Brent-WTI spread down USD$-1.46 to USD$10.83/bbl Gold is currently little changed -0.15% to USD$1333.34/oz Stocks Trending in the News Global Consumer Stocks Trending in the News Barnes & Noble (BKS) is close to a deal seeing itself acquired by Elliott Management, WSJ reports. Barnes & Noble has suffered years of decline amid numerous turnaround plans, all unsuccessfully. It is being reported the auction for Barnes Noble is coming near to an end. Barnes & Noble’s market cap is just north of $300 million. Barnes & Noble is rated “Attractive” in our US SMID-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas. Beyond Meat (BYND) provided a revenue forecast above consensus. Beyond Meat said it expects revenue to exceed $210 million this year, above the $205 million consensus. Last year it generated $88 million in revenue. Beyond Meat has seen its shares rise 400% since its IPO. Beyond Meat is not rated in our Global Top Stock Ideas. Caesars Entertainment Group (CZR) in talks and close to a deal to combine with rival Eldorado Resorts Inc (ERI), according to press reports. Caesars and Eldorado are trying to finalize a cash and stock offer that would result in Eldorado running the combined entity. Caesars is one of the largest casino operators with over 50 casinos in 13 states. Caesars has a market cap of $6 billion with $9 billion in debt while Eldorado has a market cap of $4 billion with debt of $3 billion. No comment from either company. Caesars is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Consumer Discretionary Global Top Stock Ideas. Eldorado Resorts Inc is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Unattractive” in our US Consumer Discretionary Global Top Stock Ideas. Norwegian Cruise Line (NCLH) was caught by surprise by the US ban on stops in Cuba. Norwegian Cruise Line said the abrupt nature of the ban will its negative effect even worse for the company. Norwegian Cruise Line sees the ban cutting full-year EPS by 35-45 cents. Norwegian Cruise Line is rated “Attractive” in our US Large-Cap Global Top Stock Ideas and “Top Buy” in our US Consumer Discretionary Global Top Stock Ideas. Walmart (WMT) will start delivering groceries this fall right into customers refrigerators. In three cities this fall, Walmart employees wearing body cameras will enter customers’ homes that have smart locks. Customers will be able to watch the deliveries live-streamed when they aren’t home. The service will be called Walmart InHome. Walmart is the largest seller of groceries in the US and is looking to adjust the way consumers buy groceries. Walmart is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Consumer Staples Global Top Stock Ideas. Global Information Technology Stocks Trending in the News Alphabet’s (GOOGL) Google told the US government that banning Huawei could compromise national security. Google said if the ban goes into effect it would not be able to update its Android operating system on Huawei mobile phone. In that scenario Huawei would have to modify Android on its own, and that could make it more vulnerable to hacking risks. Huawei said it could develop its own OS “very quickly” if needed. Alphabet is rated “Top Buy” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Information Technology Global Top Stock Ideas Apple (AAPL) plans to offer anonymous sign-ins for third-party apps that are downloaded through its app store. Users logging in will be given the option to log into the app anonymously which would prohibit the app from collecting the user’s data that is used for advertising targeting. The feature will be part of the update to its mobile operating system this fall. Ad-supported apps could suffer as consumers gain. Apple is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas AT&T (T) has changed course and is likely to offer one tier of service for its video streaming service. AT&T originally planned to offer three tiers of service but WSJ reports that has been simplified to one. AT&T plans to charge $16-17 as a monthly fee. An ad-supported version with a lower price is planned for 2020. AT&T is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Attractive” in our US Information Technology Global Top Stock Ideas Facebook (FB) has been revamping its senior executive in its legal and communication teams anticipating antitrust actions from the federal government. Both legal and communications teams have new leaders while its public relations team is now headed by Britain’s former deputy prime minister. Facebook has been keen to add people to its defense team with experience dealing with government regulators. Facebook is rated “Neutral” in our US Large-Cap Global Top Stock Ideas and “Neutral” in our US Information Technology Global Top Stock Ideas Global Financial Stocks Trending in the News Columbia Financial (CLBK) will acquire Stewardship Financial Corp (SSNF) in an all cash deal. Columbia will pay holders of Stewardship $15.75 per share. The total value of the deal is about $137 million. The deal should close in the second half of 2019. Columbia Financial is rated “Attractive” in our US SMID-Cap Global Top Stock Ideas. Stewardship Financial Corp is not rated in our Global Top Stock Ideas. JP Morgan (JPM) has is killing its no-fee banking app Finn that was meant to attract younger clients. JP Morgan launched the app a year ago as part of its strategy to expand its offerings among younger customers. JP Morgan has the most digital customers of any US bank with 50.7 million and decided its Chase unit is best positioned to serve these younger clients. Finn users will have their accounts transferred to Chase accounts and need to download the Chase app. JP Morgan is rated “Attractive” in our US Large-Cap Global Top Stock Ideas Global Health Care Stocks Trending in the News Insys Therapeutics (INSY) announced it agreed to pay $225 million to settle its civil and criminal charges brought by the federal government. Insys is charged with fraud for marketing the highly addictive opioid drugs as safer, non-addictive painkillers. Insys said the settlement was in the best interests of shareholders. Insys Therapeutics is rated “Neutral” in our US SMID-Cap Global Top Stock Ideas International Stock Markets Recaps The Euro Stoxx 600 is currently up +0.91%, the FTSE 100 is higher by +0.87%, the DAX has risen +0.79%, and the CAC 40 is up +1.5% Utilities (+1.03%), Banks (+0.62%), and Basic Resources (+0.61%) stocks are the top performers in the Euro Stoxx 600 today Retail (+0.61%), Health Care (+0.56%), and Construction & Materials (+1.34%) stocks are the worst performers in the Euro Stoxx 600 today Investor sentiment for European stocks is positive with the advance/decline ratio for the Euro Stoxx 600 currently at 7.33x 81 stocks in the Euro Stoxx 600 are at 4-week highs while 29 stocks are at 4-week lows 12 stocks in the Euro Stoxx 600 are overbought while 15 stocks are oversold according to the 16-day RSI Measure The Nikkei 225 finished up +0.53%, the Hang Seng ended up +0.26%, the Hang Seng China Enterprise declined -0.1%, and the CSI 300 was -0.9% Investor sentiment for Japanese stocks finished positive with the advance/decline ratio for the Nikkei 225 closing at 2.46x 13 stocks in the Nikkei 225 hit 4-week highs while 5 stocks reached 4-week lows 1 stock in the Nikkei 225 closed overbought while 5 stocks closed oversold according to the 16-day RSI Measure Chinese markets are closed today for Dragon Boat day
U.S. stock futures were mixed this morning as investors prepared for a Fed meeting later this week. Momentum is positive heading into the week, with the Dow riding a three-day win streak and the Dow, S&P 500, and Nasdaq all up in four of the past five sessions. (CNBC)
President Donald Trump targeted both General Motors (GM) and an Ohio union official over an assembly plant that the automaker closed earlier this month. He claimed that GM "let our Country down." Shares of GM were slightly higher in premarket trading. (CNBC)
On the data front this morning, the National Association of Home Builders is out with its monthly sentiment survey for March at 10 a.m. ET, with consensus forecasts calling for a reading of 63. That would be up one point from February. (CNBC)
Lumber Liquidators (LL) and Overstock.com (OSTK) are among the few companies scheduled to report quarterly earnings this morning, while cannabis producer Tilray (TLRY) will be out with its numbers after today's closing bell. (CNBC)
The U.S. Department of Transportation is investigating whether there were lapses in the Federal Aviation Administration's approval of Boeing (BA) planes involved in two recent fatal crashes, according to a Wall Street Journal report.
The world turned on the US and FAA after two Boeing fatal air crashes (CNBC)
New Zealand Prime Minister Jacinda Ardern today she would announce new gun laws within days. The comments came after a lone gunman killed 50 people in mass shootings at two mosques in the city of Christchurch. (Reuters)
Former FBI Director James Comey told CNBC that he did not know if Democrats could obtain an unredacted copy of the Robert Mueller report with a subpoena if the Department of Justice declined to release it.
The U.S. military is crafting plans to keep nearly 1,000 forces in Syria, the Wall Street Journal reported, citing U.S. officials. Three months ago, President Trump had ordered a complete withdrawal.
Ride-hailing platform Lyft will launch the investor road show for its initial public offering today, according to Reuters, citing people familiar with the matter. It will be seeking to convince investors to make large commitments to its IPO.
The Apple (AAPL) Watch helped detect a heart rhythm disorder in some users but showed false positives in other cases, according to a new study presented at the American College of Cardiology conference. (Reuters)
How tech can solve pain without pills (CNBC)
A person familiar with the matter told CNBC that James Gunn has been rehired by Disney's (DIS) Marvel Studios to helm "Guardians of the Galaxy 3" after being pulled from the project last summer over posts made on social media.
Caesars Entertainment — Caesars and Eldorado Resorts are in the early stages of exploring a merger, according to Reuters. Investor Carl Icahn has been pushing Caesars to explore a sale after taking a stake in the casino operator and putting three nominees on the board of directors.
Boeing — The Department of Transportation and federal prosecutors are scrutinizing the development of Boeing's 737 MAX jets, according to The Wall Street Journal. The 737 MAX 8 was involved in last week's Ethiopian Airlines crash as well as a Lion Air crash in Indonesia a few months ago.
Worldpay — Worldpay is being bought by financial services technology company Fidelity National Financial (FIS) in a cash and stock deal worth $35 billion, excluding assumed debt. Shareholders in the e-commerce payments company will get $11 in cash and a little more than nine tenths of an FIS share for each Worldpay share.
Amazon.com — Financial incentives for Amazon's planned headquarter in northern Virginia won approval from local officials, despite vocal opposition from some residents and labor groups.
PG&E — The utility company is close to naming a new CEO and a board overhaul, according to The Wall Street Journal. The paper said retiring Tennessee Valley Authority head Bill Johnson is the likely CEO choice.
Edwards Lifesciences — Edwards and Medtronic both saw positive results in studies involving rival non-invasive heart valve replacement systems. The study results were presented over the weekend.
Marriott — The hotel operator announced a three-year growth plan that it will discuss at an investor meeting today in New York. The plan involves opening more than 1,700 hotels around the world and adding up to 295,000 rooms by 2021.
Qudian — The China-based provider of consumer credit products posted a mixed quarter, reporting better-than-expected bottom line results but revenue that fell short of analysts' forecasts.
Apple — The Apple Watch helped detect a heart rhythm disorder in some users but showed false positives in other cases, according to a new study presented at the American College of Cardiology conference.
Kroger — A group of retailers led by the supermarket operator settled a dispute with tuna maker Starkist, following that company's admission that it conspired with others to raise the price of canned tuna. Financial terms were not disclosed. Starkist had previously reached similar settlements with Target and Walmart.
Wells Fargo — Wells Fargo is close to selling its retirement plan services business to Principal Financial Group for more than $1 billion, according to a Reuters report.
Southwest Airlines — The airline has reached a tentative labor deal with its mechanics, after the two sides were without a contract since 2012. If approved, the pact would give mechanics a 20 percent raise.
Aramark — Aramark was downgraded to "neutral" from "buy" at Nomura/Instinet, which points to the food services company's inability to win new business.
Okta — Okta was upgraded to "buy" from "neutral" at Goldman Sachs, which notes the stock's upside potential based on the growing importance of identity management tools in the workplace.
U.S. stock futures were mixed this morning as investors prepared for a Fed meeting later this week. Momentum is positive heading into the week, with the Dow riding a three-day win streak and the Dow, S&P 500, and Nasdaq all up in four of the past five sessions. (CNBC)
President Donald Trump targeted both General Motors (GM) and an Ohio union official over an assembly plant that the automaker closed earlier this month. He claimed that GM "let our Country down." Shares of GM were slightly higher in premarket trading. (CNBC)
On the data front this morning, the National Association of Home Builders is out with its monthly sentiment survey for March at 10 a.m. ET, with consensus forecasts calling for a reading of 63. That would be up one point from February. (CNBC)
Lumber Liquidators (LL) and Overstock.com (OSTK) are among the few companies scheduled to report quarterly earnings this morning, while cannabis producer Tilray (TLRY) will be out with its numbers after today's closing bell. (CNBC)
The U.S. Department of Transportation is investigating whether there were lapses in the Federal Aviation Administration's approval of Boeing (BA) planes involved in two recent fatal crashes, according to a Wall Street Journal report.
The world turned on the US and FAA after two Boeing fatal air crashes (CNBC)
New Zealand Prime Minister Jacinda Ardern today she would announce new gun laws within days. The comments came after a lone gunman killed 50 people in mass shootings at two mosques in the city of Christchurch. (Reuters)
Former FBI Director James Comey told CNBC that he did not know if Democrats could obtain an unredacted copy of the Robert Mueller report with a subpoena if the Department of Justice declined to release it.
The U.S. military is crafting plans to keep nearly 1,000 forces in Syria, the Wall Street Journal reported, citing U.S. officials. Three months ago, President Trump had ordered a complete withdrawal.
Ride-hailing platform Lyft will launch the investor road show for its initial public offering today, according to Reuters, citing people familiar with the matter. It will be seeking to convince investors to make large commitments to its IPO.
The Apple (AAPL) Watch helped detect a heart rhythm disorder in some users but showed false positives in other cases, according to a new study presented at the American College of Cardiology conference. (Reuters)
How tech can solve pain without pills (CNBC)
A person familiar with the matter told CNBC that James Gunn has been rehired by Disney's (DIS) Marvel Studios to helm "Guardians of the Galaxy 3" after being pulled from the project last summer over posts made on social media.
Caesars Entertainment — Caesars and Eldorado Resorts are in the early stages of exploring a merger, according to Reuters. Investor Carl Icahn has been pushing Caesars to explore a sale after taking a stake in the casino operator and putting three nominees on the board of directors.
Boeing — The Department of Transportation and federal prosecutors are scrutinizing the development of Boeing's 737 MAX jets, according to The Wall Street Journal. The 737 MAX 8 was involved in last week's Ethiopian Airlines crash as well as a Lion Air crash in Indonesia a few months ago.
Worldpay — Worldpay is being bought by financial services technology company Fidelity National Financial (FIS) in a cash and stock deal worth $35 billion, excluding assumed debt. Shareholders in the e-commerce payments company will get $11 in cash and a little more than nine tenths of an FIS share for each Worldpay share.
Amazon.com — Financial incentives for Amazon's planned headquarter in northern Virginia won approval from local officials, despite vocal opposition from some residents and labor groups.
PG&E — The utility company is close to naming a new CEO and a board overhaul, according to The Wall Street Journal. The paper said retiring Tennessee Valley Authority head Bill Johnson is the likely CEO choice.
Edwards Lifesciences — Edwards and Medtronic both saw positive results in studies involving rival non-invasive heart valve replacement systems. The study results were presented over the weekend.
Marriott — The hotel operator announced a three-year growth plan that it will discuss at an investor meeting today in New York. The plan involves opening more than 1,700 hotels around the world and adding up to 295,000 rooms by 2021.
Qudian — The China-based provider of consumer credit products posted a mixed quarter, reporting better-than-expected bottom line results but revenue that fell short of analysts' forecasts.
Apple — The Apple Watch helped detect a heart rhythm disorder in some users but showed false positives in other cases, according to a new study presented at the American College of Cardiology conference.
Kroger — A group of retailers led by the supermarket operator settled a dispute with tuna maker Starkist, following that company's admission that it conspired with others to raise the price of canned tuna. Financial terms were not disclosed. Starkist had previously reached similar settlements with Target and Walmart.
Wells Fargo — Wells Fargo is close to selling its retirement plan services business to Principal Financial Group for more than $1 billion, according to a Reuters report.
Southwest Airlines — The airline has reached a tentative labor deal with its mechanics, after the two sides were without a contract since 2012. If approved, the pact would give mechanics a 20 percent raise.
Aramark — Aramark was downgraded to "neutral" from "buy" at Nomura/Instinet, which points to the food services company's inability to win new business.
Okta — Okta was upgraded to "buy" from "neutral" at Goldman Sachs, which notes the stock's upside potential based on the growing importance of identity management tools in the workplace.
With today’s reopenings in Nevada, 16 of Eldorado’s 23 casino entertainment facilities have resumed operations following the suspension of operations in March. “We are excited and grateful The historic Eldorado Casino in downtown Henderson opened on July 1, 1962, marking Bill and Sam Boyd's first venture into co-owning a casino. It has a colorful history, including being one of the first casinos to market directly to Las Vegas Locals, as well as being among the first casino to have female dealers, but what it will be remembered for We will open our restaurants in phases. The following restaurants are currently open; Roxy, Sushi Sake, The Brew Brothers, La Strada, Millies, Eldorado Coffee Company and Starbucks at Eldorado. Ruth’s Chris Steak House, Café Central and Sips at Silver Legacy. Piezzetta Pizza Kitchen and Yogurt Beach at Circus Circus. Hours of operation vary. With today’s reopenings in Nevada, 16 of Eldorado’s 23 casino entertainment facilities have resumed operations following the suspension of operations in March. “We are excited and grateful Make Eldorado Your Stop for Gambling in Shreveport. Blackjack, Craps, Roulette, Mini Baccarat- no matter your gaming pleasure, the Eldorado is the perfect destination for you. And that’s not all. The Eldorado also offers a wide variety of hotel, casino, entertainment, spa and dining options to make your stay one-of-a-kind for Shreveport casinos. Eldorado Resorts, Inc. (NASDAQ: ERI) (“Eldorado,” “ERI,” or “the Company”) announced that it will resume operations at Isle of Capri Casino Hotel Lula Eldorado Resorts is a leading casino entertainment company that owns and operates twenty-three properties in eleven states, including Colorado, Florida, Illinois, Indiana, Iowa, Louisiana "Eldorado plans to reopen Isle Casino Racing Pompano in even at the casinos that are now open. investors bid up Eldorado stock 9% through 12:30 p.m. EDT today. Motley Fool Returns. With today’s reopenings in Nevada, 16 of Eldorado’s 23 casino entertainment facilities have resumed operations following the suspension of operations in March. “We are excited and grateful to be able to reopen our casinos in Nevada. Eldorado Resorts opening 3 Louisiana casino properties Monday The Reno-based regional casino operator with 23 casinos in 11 states, including Nevada, will reopen in Louisiana after closing because
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