Sales & Marketing news

• A monster trading quarter saved the day at JPMorgan and Citigroup. But the second half of 2020 looks grim.

  14-07-2020 23:52 via feedproxy.google.com
  
  In the first wave of bank earnings, Wall Street traders proved the difference makers.
  Banks took massive hits as consumer banking faltered and they built up cushions against bad loans. 
  But JPMorgan Chase and Citigroup still beat expectations and turned profits, thanks in large part to stellar trading performances. At JPMorgan, trading revenues reached $9.7 billion — an all-time record.  
  Wells Fargo, which doesn't have significant trading operations, got shellacked and book
  
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• 'This is not a normal recession': 3 large US banks set aside $28 billion to cover potential loan defaults due to the coronavirus pandemic

  14-07-2020 22:20 via feedproxy.google.com
  JPMorgan, Citigroup, and Wells Fargo set aside a combined $28 billion to cover potential defaults on loans amid the pandemic recession. 
  It's the most banks have set aside for bad loans since 2008, according to Bloomberg. 
  "This is not a normal recession," said JPMorgan CEO Jamie Dimon. "The recessionary part of this you're going to see down the road."
  Read more on Business Insider. 
  Three major US banks took a hit from second-quarter profits to stockpile billions to guard against
  
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• Dow surges 557 points as traders weigh bank earnings and spiking virus cases

  14-07-2020 22:03 via feedproxy.google.com
  US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases.
  JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. 
  Coronavirus cases continue to climb in the US, forcing states to rollback reopening plans and threatening the economic recovery from the pandemic recession. 
  Read more on Business Insider.
  US stocks rose on Tuesday as investors wei
  
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• Some parts of Wall Street are worried that a Democratic sweep this November would be bad for stocks — but history suggests otherwise

  14-07-2020 21:50 via feedproxy.google.com
  An increase in taxes and regulatory oversight are reasons often cited why a Democratic sweep this November would be bad for the stock market, but history suggests otherwise.
  An analysis from LPL Financial showed that the S&P 500 was positive 83% of the time and posted an average annual return of 13.2% when Democrats controlled both Congress and the White House. 
  Last week, Goldman Sachs pointed to prediction markets that showed Democrats are favored to win both houses of Congress and th
  
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• Oil demand will rebound sharply in 2021, surpassing pre-virus levels, OPEC says

  14-07-2020 21:28 via feedproxy.google.com
  Demand for OPEC-sourced crude oil will recover 25% in 2021 and surpass levels seen in 2019, the global coalition of producers said in a Tuesday report.
  OPEC crude demand projections for 2020 were revised slightly higher as well but remain well below pre-pandemic highs.
  World oil demand won't fully recover until after 2021, OPEC said, as the increase forecasted for next year still pales in comparison to the demand decline seen in 2020.
  Demand for oil products is expected to recover by a record am
  
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• Dow climbs 400 points as investors weigh bank earnings and spiking virus cases

  14-07-2020 20:43 via feedproxy.google.com
  US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases.
  JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. 
  Coronavirus cases continue to climb in the US, forcing states to rollback reopening plans and threatening the economic recovery from the pandemic recession. 
  Read more on Business Insider. 
  US stocks rose on Tuesday as investo
  
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• The IRS says stimulus checks issued to dead people don't need to be returned

  14-07-2020 19:29 via feedproxy.google.com
  
  The IRS says it's canceling stimulus checks sent to dead people and they no longer need to be returned.
  A government report in June found the agency had distributed $1.4 billion to dead people, though that made up a small portion of the overall $269 billion federal payout.
  Congress and the Trump administration are now debating whether to send a second round of direct payments for Americans.
  Visit Business Insider's homepage for more stories.The IRS said it was canceling stimulus checks issued to
  
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• Nearly 40,000 Robinhood day traders added Tesla shares in 4 hours Monday as the stock whipsawed (TSLA)

  14-07-2020 19:28 via feedproxy.google.com
  Nearly 40,000 Robinhood accounts added shares of Tesla during a four-hour period on Monday, Bloomberg reported, citing data from Robintrack.net. 
  The automaker's stock went on a wild ride Monday, gaining as much as 16% at one point before falling and closing down 3%. 
  Now, Tesla is the 10th most popular stock on Robinhood and is higher ranked than Amazon, according to Robintrack.
  Watch Tesla trade live on Markets Insider. 
  Read more on Business Insider. 
  Robinhood traders kee
  
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• BANK OF AMERICA: Buy these 7 pharma stocks now as they race to develop COVID-19 treatments and vaccines

  14-07-2020 19:21 via feedproxy.google.com
  
  Several companies are conducting coronavirus vaccine trials, and three — Moderna, Pfizer, and BioNTech — have received Fast Track status from the US Food and Drug Administration for their most advanced candidates.
  Bank of America has identified seven biopharma/medical stocks that are "primer picks" in the race for the COVID-19 vaccine. 
  Click here to sign up for our weekly newsletter Investing Insider.
  Visit Business Insider's homepage for more stories.The race is on in the biop
  
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• An award-winning PIMCO fund manager who's crushed 99% of his peers for years told us the 2 trades he's making to stay ahead — and shared his key to credit investing today

  14-07-2020 19:21 via feedproxy.google.com
  
  Mohit Mittal runs three trading desks for PIMCO and is co-managing a growing portfolio of mutual funds.
  In June, Morningstar named Mittal a Rising Talent in the industry, praising his attention to detail. Mittal says PIMCO co-founder Bill Gross was a key influence in that area.
  Among Mittal's funds is the StocksPlus Long Duration Fund, which consistently beats 99% of peers. He explained what he's doing with the fund's stock, credit, and Treasury investments. 
  Click here to sign up for our w
  
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• Wells Fargo plummets 8% after posting its first quarterly loss since the financial crisis

  14-07-2020 19:16 via feedproxy.google.com
  Wells Fargo revealed second-quarter figures on Tuesday that detailed the firm's first quarterly loss since 2008.
  The bank lost 66 cents per share, below the 33 cent estimate. Net interest income landed at $9.9 billion, missing the $10.3 billion expectation.
  The bank's earnings were largely dented by increased loan loss reserves. Wells Fargo set aside $9.5 billion for credit loss protections over the quarter, nearly double the $4.9 billion expected addition.
  Wells Fargo shares dived as much as 8.
  
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• The White House opens the door to extending boosted unemployment benefits with $600-a-week federal payouts ending in 12 days

  14-07-2020 19:13 via feedproxy.google.com
  
  The White House is signaling it could support a partial extension to the boosted unemployment benefits the federal government pays out to millions of laid-off workers, though at a lower amount.
  The Washington Post reported GOP lawmakers were weighing adding $200 to $400 per week after the $600 boost expires at the end of July.
  Republicans have fiercely opposed extending the $600 boosted unemployment payments enacted in March.
  Visit Business Insider's homepage for more stories.The White House is
  
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• Big investors say tech stocks are in demand like never before — and Bank of America is recommending these 3 trades for the best protection against a collapse

  14-07-2020 18:45 via feedproxy.google.com
  
  In Bank of America's most recent Global Fund Manager Survey, 74% of respondents — the most in the survey's history — said that being long on US tech stocks was the "most crowded trade."
  For protection against a collapse — or for those interested in betting against current market trends — Bank of America's Michael Hartnett recommends three "best" contrarian trades.
  Click here to sign up for our weekly newsletter Investing Insider.
  Visit Business Insider's homepage for more
  
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• Value investing has been "broke" since 2007. BofA lists 7 reasons why it may finally be poised for a comeback

  14-07-2020 18:18 via feedproxy.google.com
  The near century-long trend of value investing outperforming growth investing has been broken since 2007, according to Bank of America.
  Growth strategies have outperformed value strategies by nearly 8 percentage points since 2007, and that spread has widened even more in 2020 as growth stocks led by the tech sector have materially outperformed value stocks.
  In a note published on Monday, Bank of America highlighted seven reasons why value might finally be poised for a comeback after 13 years of
  
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• Wall Street's best-known oil analyst says smaller nations may start 'cheating' the system if OPEC eases production cuts, and it could cause a fresh supply crunch

  14-07-2020 18:06 via feedproxy.google.com
  Helima Croft, perhaps Wall Street's best-known oil analyst, said that the prospect of OPEC easing production cuts this week could allow smaller oil producing nations to break their commitments to cut.
  "Once OPEC starts easing cuts, can they maintain the same level of conformity or will it start to break down when we start to have more barrels coming back?" — she said in an interview with Business Insider this week.
  OPEC, Russia ,and other producers are meeting on Wednesday to decide whethe
  
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• Tesla will continue its monster run and jump another 55% to $2,322, Wall Street firm says (TSLA)

  14-07-2020 17:42 via feedproxy.google.com
  Despite Tesla's gravity-defying surge so far in 2020, a Monday note from Piper Sandler argues that the stock has more room to run.
  Sandler increased its price target on Tesla to a street-high $2,322, from $939, implying an upside of 55% from Monday's close.
  The firm employed a 20-year discounted cash-flow model to generate the price target and credited Tesla with first-mover advantage and software potential as reasons to stay long the stock.
  In response to the note, Tesla CEO Elon Musk tweeted,
  
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• US small business optimism jumped the most since 2016 in June as owners anticipated better sales amid the economic reopening

  14-07-2020 17:33 via feedproxy.google.com
  
  US small business optimism jumped 6.2 points to 100.6 in June, according to the National Federation of Independent Business' survey released Tuesday. 
  Small business sales expectations jumped 37 points to net 13%. 
  Eight of the ten components tracked by the index improved during the month, according to the report. 
  Visit Business Insider's homepage for more stories.US small business optimism in June jumped the most since December 2016 as owners anticipate a short recession and boo
  
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• UBS downgrades Netflix, calling shares overvalued after 75% rally from COVID-19 lows

  14-07-2020 17:11 via feedproxy.google.com
  Netflix shares' risk-reward profile is becoming increasingly unattractive as investors ignore major risks and pile in, UBS said Tuesday.
  The firm downgraded Netflix to "neutral" from "buy" while reiterating its $535 price target.
  Investor debates around new competitors, rising content costs, and lasting subscriber growth "have disappeared at current levels," the team of analysts wrote.
  "We would rather be constructive" at levels where such concerns are better factored into Netflix's stock price,
  
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• Wall Street breaks down how to trade the 2020 election, from a Trump triumph to a Biden blue wave

  14-07-2020 17:07 via feedproxy.google.com
  
  Hello everyone! Welcome to this weekly roundup of Investing stories from deputy editor Joe Ciolli. Please subscribe here to get this newsletter in your inbox every Tuesday.Dear Readers,
  By now you've probably had enough time to digest the flood of commentary around the coronavirus and what it means for markets. You may not have a clear idea about what exactly is coming next, but you have a decent idea of what scenarios could unfold.
  Now that you've reached that point, how would yo
  
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• Investing legend Bill Gross says investors should favor value over growth during the pandemic, and tipped these 4 stocks to flourish

  14-07-2020 16:37 via feedproxy.google.com
  Legendary investor Bill Gross said investors should look more closely at value stocks rather than growth stocks like Apple, Netflix, and Amazon to make money right now.
  The retired fund manager said in his first investment outlook of the coronavirus pandemic that the outperformance of the "Fab 5" technology companies and other growth stocks are linked to real interest rates.
  Gross named four value stocks — IBM, Altria, Enterprise Products, and Abbvie — that he backs right now.
  "Value
  
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• Why diverse teams benefit agencies and brands

  14-07-2020 02:00
  
  Marketing teams that are diverse and inclusive stand to gain a range of benefits, which extend from making smarter strategy to achieving greater impact among the communities a brand is seeking to reach.
  
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• Slow down and plan your e-commerce strategy

  14-07-2020 02:00
  It’s understandable that many brands are feeling the urge to rush onto e-commerce platforms, but doing so without a plan could cause more harm than good, an expert cautions.
  
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• Google scales up India operations

  14-07-2020 02:00
  With the announcement that the search giant is planning to invest $10 billion in the Indian market over the next five years, Google is likely to have an impact on companies large and small.
  
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• A new era in functional foods?

  14-07-2020 02:00
  COVID-19 has had a significant impact on the mental health of people everywhere, and they’re looking for ways to reduce stress and improve sleep; a new generation of functional foods (and drinks) is promising to deliver on that score.
  
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