Sales & Marketing news

• Uber CEO Dara Khosrowshahi says ride-hailing will make up only 50% of the company's business moving forward as food delivery growth surges (UBER)

  10-07-2020 23:28 via feedproxy.google.com
  
  Uber CEO Dara Khosrowshahi said in an interview with NDTV Thursday that Uber's business will be split "50-50" between ride-hailing and other divisions like food delivery.
  "Our delivery business is growing at rates that, frankly, I didn't think was possible, and we have doubled up on that," Khosrowshahi told NDTV.
  The coronavirus pandemic has decimated Uber's core ride-hailing business, with trips plummeting as much as 94% earlier this year and the company losing $2.9 billion last quart
  
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• The S&P 500 will fall 8% by the end of 2020, according to Bank of America's equity chief

  10-07-2020 22:14 via feedproxy.google.com
  Bank of America's head of equity research predicts the S&P 500 index will fall to 2,900 by the end of the year, an 8% decline from current levels, MarketWatch said.
  "I wouldn't paint myself as a bear, but the risks between here and year-end are completely to the downside," Savita Subramanaian said in a webinar conducted by the bank.
  She pointed out that a Joe Biden victory in November could reverse market-friendly tax policies.
  For investors favoring stocks that benefit from the coronavirus,
  
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• Dow gains 369 points on trader optimism about a COVID-19 treatment

  10-07-2020 22:05 via feedproxy.google.com
  US stocks rose on Friday as traders cheered news about advances in coronavirus treatment.
  Gilead Sciences said on Friday that an analysis of clinical-trial data for its remdesivir drug found a 62% reduction in mortality risk among severe COVID-19 patients.
  Still, the US on Thursday reported 63,200 new coronavirus cases, according to data from Johns Hopkins University.
  Read more on Business Insider.
  US stocks rose on Friday as news about advances in coronavirus treatment outweighed another record
  
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• Bank of America has poached a top junk-bond trader from Deutsche Bank, leveling up in one of 2020's red-hot trading markets

  10-07-2020 20:29 via feedproxy.google.com
  
  Bank of America has poached a top trader away from Deutsche Bank, a big credit-trading competitor.
  Jeff Chang has resigned from Deutsche Bank and is joining Bank of America, according to people familiar with the matter.
  Chang was the head of US high-yield trading at the German lender.
  Junk-bond trading has been hot amid the disruption caused by the coronavirus, and both Bank of America and Deutsche Bank have top high-yield-credit operations.
  Visit Business Insider's homepage for more stories.Jun
  
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• Trump needs to find a better nickname for Biden, and fast.

  10-07-2020 19:45 via feedproxy.google.com
  
  Hello, everyone! Welcome to the new edition of Insider Today. Please sign up here.QUOTE OF THE DAY
  "I would put on my old uniform and go to war all over again to protect the right of Tucker Carlson and Donald Trump to say offensive things on TV and Twitter." — Sen. Tammy Duckworth, responding in The New York Times to Carlson and Trump's attacks on her patriotism.WHAT'S HAPPENINGDeath tolls are rising in key states. Caseloads continue to rise at alarming rates especially in the South a
  
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• A nationwide mask-wearing mandate would accelerate the US's economic recovery, Dallas Fed president says

  10-07-2020 19:44 via feedproxy.google.com
  A nationwide mask-wearing mandate would slow the coronavirus' spread and boost the US's economic recovery, Robert Kaplan, the president of the Federal Reserve Bank of Dallas, said Friday.
  Additional monetary and fiscal stimulus is important, but adhering to public-health protocols is "the primary economic policy" for helping the US grow faster, Kaplan told Fox Business.
  COVID-19 cases have recently spiked in several states, raising fears of a halted economic bounce-back.
  Goldman Sachs analysts e
  
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• The US officially ended its V-shaped recovery and has entered a slower 'healing phase,' Bank of America says

  10-07-2020 19:40 via feedproxy.google.com
  
  The US economy officially ended its V-shaped transition and entered its third and final phase of recovery, Bank of America economists said Friday.
  High-frequency economic data suggests the rapid bounce ended in June and gave way to a "healing phase" as reopenings boosted spending and hiring activity, the team led by Michelle Meyer wrote in a note.
  The third recovery phase will be "one of slower growth, likely in fits and starts," and will be "defined by the path of the virus," they added.
  Househ
  
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• Cruise lines surge after Carnival reports 2021 demand "within historical ranges" (CCL, RCL, NCLH)

  10-07-2020 18:54 via feedproxy.google.com
  Cruise lines soared on Friday after Carnival Corp. reported second quarter earnings that revealed a few positive trends developing within the industry, after its business was decimated by COVID-19.
  The company said cumulative advanced booking for 2021 is "within historical ranges" with prices that are down slightly low to mid-single digits on a comparable basis. 
  Carnival saw revenue in the quarter fall 84% year-over-year, but revenue still managed to best analyst and its own estimates.
  Vis
  
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• Dow gains 250 points as traders weigh virus spike against treatment advances

  10-07-2020 18:18 via feedproxy.google.com
  US stocks rose on Friday as traders weighed another record in daily virus cases against advances in treatment.
  On Thursday, the US reported 63,200 new coronavirus cases, according to data from Johns Hopkins University.
  Meanwhile, Gilead Sciences said on Friday that an analysis of clinical-trial data for its remdesivir drug found a 62% reduction in mortality risk among severe COVID-19 patients.
  Oil rose as the International Energy Agency said the increase in coronavirus cases could hurt the marke
  
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• Tesla short-sellers have lost $18 billion this year on the stock's 230% spike (TSLA)

  10-07-2020 18:05 via feedproxy.google.com
  
  Tesla's stock has rallied this year, gaining as much as 230% on solid vehicle delivery numbers and a slew of Wall Street upgrades. 
  In the same timeframe, traders betting against Tesla have notched $18.08 billion net-of-financing mark-to-market losses, according to data from financial-analytics firm S3 Partners. 
  A solid part of those losses occured in June and July, according to S3. Tesla short-sellers lost $3.71 billion in mark-to-market losses in June and $4.08 billion in July. 
  
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• Netflix will surge 32% to record highs as app-download data points to strong subscriber growth, Goldman says (NFLX)

  10-07-2020 17:57 via feedproxy.google.com
  Strong app-download trends suggest Netflix is on the verge of releasing a blockbuster second-quarter earnings report, according to Goldman Sachs.
  In a note published on Friday, Goldman raised its Netflix price target to $670, representing upside potential of 32% from Thursday's close.
  The firm said that as the COVID-19 pandemic continues to accelerate movement toward streaming services, Netflix is a prime beneficiary.
  Goldman said it thought Netflix could add at least 12.5 million net paid subsc
  
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• India’s agencies are cautiously optimistic

  10-07-2020 01:11
  
  India’s agencies are starting to see business slowly pick up again after precipitous falls in the early stages of lockdown and there are hopes that the festival season will accelerate a journey back to something approaching normality.
  
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• How B2B marketers can align with the CFO to become more effective

  10-07-2020 01:11
  
  A new report from the Institute for Practitioners in Advertising establishes a framework for B2B marketers to build trust with the finance division of their organisations for more effective marketing and greater influence.
  
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• Digital availability is now key for brands

  10-07-2020 01:11
  
  The e-commerce landscape across Southeast Asia has had to adapt rapidly to the impact of COVID-19 and “digital availability” will be essential to future marketing strategies, an agency expert believes.
  
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• ‘Corporate allies’ can make an impact with gay and lesbian consumers

  10-07-2020 01:11
  
  Brands that act as “corporate allies” to the lesbian, gay and bisexual communities by featuring same-sex couples in ads are likely to see an uplift in purchase and recommendation intent among these audiences, a study in the Journal of Advertising...
  
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• Build e-commerce but don't ignore existing retail strategy

  10-07-2020 01:11
  
  E-commerce and direct-to-consumer are major opportunities for brands, especially during lockdown, but they are not a replacement for existing retail strategies, says a digital media agency boss.
  
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