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Can Newly Profitable Dropbox Keep Climbing?

The era of widespread work-from-home policies has settled in, and increased reliance on online collaboration tools has fueled growth in many companies. Quiet first-mover Dropbox (NASDAQ: DBX) is no exception. It may not wow investors with its past financials, but Dropbox was one of the world's first cloud collaboration tools, and it still has potential to grow.

Is Devon Energy (DVN) a Great Value Stock Right Now?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

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  Should Value Investors Buy Turtle Beach (HEAR) Stock?

  Zacks
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  WIT vs. TYL: Which Stock Is the Better Value Option?

  Zacks

The ODP Corporation Releases 2020 Corporate Sustainability Report

The ODP Corporation (NASDAQ: ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, today announced the release of its 2020 Corporate Sustainability Report, incorporating sustainability information for Office Depot, CompuCom and Grand & Toy.

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  Watts Water Technologies Publishes Its 2019 Sustainability Report

  Business Wire
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  Hexion Releases 2019 Sustainability Report: Reduces Environmental Events, Continues Community Support

  Business Wire

Agnico Eagle Up 44% in 3 Months: What's Driving the Rally?

Bright prospects of key growth projects and higher gold prices are driving Agnico Eagle's (AEM) shares.

When Does Market Timing Actually Work? - July 02, 2020

Have you ever dreamed of being that one in a million investor who has the talent to perfectly time the markets?

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  The Market Timing Secrets No One Talks About - July 01, 2020

  Zacks
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  The Keys to Successfully Timing the Markets - July 02, 2020

  Zacks

The Zacks Analyst Blog Highlights: Enbridge, GoDaddy, Dropbox and Ericsson

The Zacks Analyst Blog Highlights: Enbridge, GoDaddy, Dropbox and Ericsson

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  The Zacks Analyst Blog Highlights: BJ's Wholesale Club, American Outdoor Brands, Career Education, TEGNA and Nintendo

  Zacks
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  The Zacks Analyst Blog Highlights: Facebook, Thermo Fisher Scientific, McDonalds, NIKE and QUALCOMM

  Zacks

DuPont Stock Up 64% in 3 Months: What's Behind the Rally?

DuPont (DD) is benefiting from cost and productivity improvement actions, new product launches and initiatives to boost cash flows.

Eldorado Resorts Completes Divestiture of Isle of Capri Casino Kansas City and Lady Luck Casino Vicksburg to Twin River for $230 Million in Cash

Eldorado Resorts, Inc. (NASDAQ: ERI) ("Eldorado," "ERI," or "the Company") announced today that it completed its previously announced transaction to divest Isle of Capri Casino Kansas City and Lady Luck Casino Vicksburg to Twin River Worldwide Holdings, Inc. (NYSE: TRWH) for $230 million in cash subject to working capital adjustments.

Dow (DOW) Introduces Platform for Transportation Industry

Dow (DOW) expects the MobilityScience platform to enhance customers' experience by improving service and linking customers more efficiently to its broad products and capacity range.

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  Dow launches MobilityScience™ platform

  Business Wire
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  Dow Industrials Climb 2% to Start the Week

  The Wall Street Journal

Dropbox (DBX) Gains But Lags Market: What You Should Know

Dropbox (DBX) closed at $21.78 in the latest trading session, marking a +0.05% move from the prior day.

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  Cisco Systems (CSCO) Gains But Lags Market: What You Should Know

  Zacks
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  Berkshire Hathaway Inc. (BRK.B) Stock Sinks As Market Gains: What You Should Know

  Zacks

Is Bristol Myers (BMY) a Solid Growth Stock? 3 Reasons to Think " Yes "

Bristol Myers (BMY) could produce exceptional returns because of its solid growth attributes.

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  Is Cigna (CI) a Solid Growth Stock? 3 Reasons to Think " Yes "

  Zacks
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  Fortinet (FTNT) is an Incredible Growth Stock: 3 Reasons Why

  Zacks

Is Dropbox (DBX) Outperforming Other Computer and Technology Stocks This Year?

Is (DBX) Outperforming Other Computer and Technology Stocks This Year?

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  Has Fortinet (FTNT) Outpaced Other Computer and Technology Stocks This Year?

  Zacks
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  Is FORTERRA INC (FRTA) Stock Outpacing Its Construction Peers This Year?

  Zacks

Office Depot's Stock Just Jumped -- But You Won't Like the Reason Why

It's not every day you see a stock's share price jump more than 800%, but in a market that has seen a surge in day-trading activity, it might seem like anything's possible. Office Depot has been under pressure for years, as the office products retailer's stock has lost two-thirds of its value since 2015. Competition from online retail has made Office Depot's brick-and-mortar store look costly by comparison, and business has fallen off steadily.

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  The ODP Corporation Announces Completion of Office Depot Holding Company Reorganization and Reverse Stock Split

  Business Wire
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  Why Office Depot Stock Is Having a Wild Day on Tuesday

  Motley Fool

General Electric Finishes O&M Services at Besmaya Facility

General Electric's (GE) service offerings on the gas and steam turbines at the Besmaya power plant minimize the unplanned downtime risk of power generation equipment at the facility.

Facebook Boycott Adds to an Already Bleak Year for Advertising

(Bloomberg) -- Long before an uproar over online hate speech prompted hundreds of marketers to cut summer social media budgets, 2020 was turning out to be a dismal year for the global advertising industry.Total ad spending will fall 12% this year, compared with a 6.2% gain in 2019, according to GroupM, a division of advertising giant WPP Plc. That’s the biggest contraction in at least a decade. As the global pandemic spread around the world and consumer spending slowed to a trickle, many corporations targeted marketing as a fast, early way to cut costs.One ad agency executive said third-quarter buying would be down 20% to 30%. New deals were being struck with “force majeure” clauses that would allow advertisers to pull out if a second wave of the virus caused new shutdowns, said the executive, who requested anonymity discussing internal financial figures. In the U.S., hopes that the virus would slow by summer are fading as states that had begun opening up move to shut down again because of a jump in cases.Against this backdrop, advertisers are making another shift. Big companies around the world have said they’ll pause spending on social media, several of them singling out Facebook Inc., because they don’t want marketing messages appearing alongside the vitriol and disinformation. Many are heeding the call from a consortium of civil rights and other advocacy groups, including Color of Change and the Anti-Defamation League, to stop spending on Facebook for July to protest the company’s failure to police harmful content.The pause creates a way for many companies to take a public stance against hate while at the same time providing a concrete reason to trim marketing budgets or, in some cases, experiment with alternatives to traditional social media, such as Amazon.com Inc. or ByteDance’s TikTok. “While many brands were planning on pulling back ad spend anyways, a portion of Facebook-allocated dollars may end up on Snapchat, Pinterest, Amazon, Walmart, etc.,” Mark Shmulik, an analyst at Sanford C. Bernstein, wrote in a recent research note.Ad budgets are an indicator of corporate sentiment toward the world economy. Confidence and growth leads to bigger budgets and higher ad prices. Ad spending cratered in March and April as businesses shut and people stayed home to comply with lockdown orders.In interviews earlier in the year, ad execs were mostly hopeful that the pain would end once quarantines lifted and the economy rebounded. But behind the scenes, the picture was more bleak. Ad agencies, which choose how and when to spend the money companies entrust to them, have cut thousands of jobs. Ad executives who had spent money on spots meant to run during now-canceled sports events tried to recoup the money and find new outlets for it, according to people interviewed by Bloomberg who asked not to be identified discussing private negotiations.Despite the larger advertising pullback, a pause for social media platforms like Facebook, Twitter Inc. and YouTube creates an opening for ad upstarts on the digital side. Packaged foods company Conagra Brands Inc. pulled Facebook advertisements, redirecting the money to search and e-commerce ads, a category most likely to benefit online rivals Google and Amazon.Ben & Jerry’s, a division of Unilever, was one of the early brands to join the StopHateForProfit campaign. “The marketing dollars that would have been spent on Facebook will be spent on other channels, including possibly some Black-owned media outlets,” said Chris Miller, the activism manager at Ben & Jerry’s.Even if the boycotts gain momentum and persist for more than a month, Google and Facebook are still likely to benefit in the long-term from the disruption wrought by the pandemic. That’s because these companies offer advertisers the most flexible and direct way to reach consumers; spending can be paused or ramped up on a moment’s notice. The tech giants also benefit from the millions of small businesses that rely heavily on them for day-to-day business and don’t necessarily need to take a public stand on moral issues. “They may grab an even greater market share post COVID-19 than the strong gains we are currently projecting,” Michael Nathanson, an analyst at MoffettNathanson LLC, said of Facebook and Google.The more traditional parts of the ad ecosystem, which still account for around half of advertising spending, are in a riskier position.For the TV industry, the advertising outlook for the rest of 2020 will depend on two still-unanswered questions. One is how much the pandemic-driven recession will accelerate cable-TV cord-cutting. With unemployment high, more people are expected to cancel their TV subscriptions as they tighten their household budgets. That would hurt viewership and the advertising dollars that go with it. The bigger audiences as a result of people being confined to their homes has already started to fall for just about all programming except news as more people venture outdoors again.The other big question is the return of sports. As long as professional and college football starts up again this fall, media companies like Fox Corp., Comcast Corp., Walt Disney Co. and ViacomCBS will likely see a rebound in advertising revenue, analysts say. Brands spent over $4 billion on TV commercials during NFL games last year.Still, some big TV advertisers could be less willing to jump back this year at all. Carmakers like General Motors and Ford, for instance, have been among the top buyers of TV commercials. The global pandemic has disrupted their supply chains and raised doubts about consumers making big purchases like cars.Media companies and TV networks are now under pressure to make their contracts more flexible. TV networks typically prevent advertisers from pulling all of their money out on short notice. That frustrated many advertisers this spring when the pandemic first kicked off the recession. Now, advertisers are pushing for the right to pull more of their money out of a TV network with fewer days notice in case the coronavirus worsens the economic picture. They will, however, likely pay a higher price for that flexibility, according to one TV executive.That could send them back to the digital platforms, regardless of all the commitments to boycott Facebook.“Brands can stop TV ads but they can’t stop things being on social,” said Arron Shepherd, co-founder of global social media and influencer marketing agency Goat.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Westlake Chemical's Unit Expands Virtual-Selling Capabilities

Westlake Chemical's (WLK) unit Royal Building Products expects the collaboration with One Click Contractor to support virtual sales.

Dow and Atlas Renewable Energy Ink Energy Contract in Brazil

The Jacaranda solar plant will produce ample energy to provide a large portion of Dow's (DOW) Aratu Site's energy needs.

The ODP Corporation Announces Completion of Office Depot Holding Company Reorganization and Reverse Stock Split

The ODP Corporation ("ODP" or the "Company") (NASDAQ: ODP), a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform, announced that it has completed its previously announced holding company reorganization creating a newly-formed public company named "The ODP Corporation" and implemented a 1-for-10 reverse stock split effective June 30, 2020.

• Office Depot's stock falls after reverse stock split multiplies price by 10

  MarketWatch
• Office Depot's stock gains ahead of reverse stock split, set to take effect after the closing bell

  MarketWatch

Nobu Hotel Caesars Palace in Las Vegas Now Open

In accordance with directives from Nevada Governor Steve Sisolak and the Nevada Gaming Control Board, Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars", "Caesars Entertainment" or the "Company") has resumed operations at Nobu Hotel Caesars Palace in Las Vegas today, July 2. This follows the successful reopenings of Caesars Palace Las Vegas, Flamingo Las Vegas, Harrah's Las Vegas, Paris Las Vegas, The LINQ Promenade and High Roller Observation Wheel, as well as the gaming floor and other amenities at The LINQ Hotel + Experience.

Analysts Say These 3 Stocks Are Their Top Picks for Post-Pandemic Gains

Amid the market’s wild roller coaster ride, one fact has become abundantly clear: COVID-19 is a game-changer. With the number of new cases spiking, the resumption of normality is fading farther off into the distance, taking hopes of a V-shaped recovery along with it. That said, regardless of the recovery’s shape, some argue that the investing landscape has been altered for the foreseeable future.Against this backdrop, investment strategies will need to take the new reality into consideration, focusing on the names poised to emerge from the crisis as the ultimate winners. Even though this might feel like guesswork, the Street’s pros can help steer investors in the right direction.To this end, we used TipRanks’ database to get all the details on three Buy-rated stocks flagged by analysts as positioned for gains in a post-COVID environment.Adtran Inc. (ADTN)As one of the top providers of networking and communications equipment, Adtran helps communications services companies manage and scale services that connect people from all over the world. With COVID-19 making residential broadband access a necessity, some analysts see this name as a key beneficiary of the global pandemic.MKM Partners’ Michael Genovese reminds investors that during the firm’s virtual idea dinner on March 14, he laid out the case for ADTN, with COVID-19's impact only supporting his belief that the stock is a top pick. “In our view, the Adtran story has gotten even better post COVID-19 since home Broadband has gone up in importance. We believe Internet 3.0, with a good portion of human work and social life occurring online, is here to stay. We see a renewed Telco focus on Wireline and on the Edge of the network where Adtran plays,” he commented.When it comes to its Fiber products, the last few years have seen the company place a significant focus on this aspect of the business, with it revamping its PON capabilities and offering Fiber platforms with innovative SDN and Cloud features.According to Genovese, these efforts have already paid off. “Over the past year, Adtran has successfully transitioned its largest copper customers, CenturyLink and DT (DTE), into large fiber customers. Adtran's 1Q20 its Fiber revenues were up 26% year-over-year. Last month, ADTN announced a win with DT to add significantly more Fiber over the next several years,” the analyst stated.Adding to the good news, the company revealed BT Openreach had chosen it to help it make multi-gigabit services available to 20 million homes in the UK. It should be noted that in the UK, Huawei equipment can only account for 35% of the Broadband Access network. As Genovese points out, to limit its use of Huawei products, BT has turned to other providers like ADTN.“According to our checks, Adtran could see more than $10 million in sales from BT Openreach in 2Q20. We believe the contract with BT is long-term and worth hundreds of millions of dollars over time. Adtran also recently revealed a Fiber win with a U.S. Tier 1 we think it is Verizon, with revenues expected to ramp in 2021,” Genovese explained.Given the fact that the Tier 3 market is stronger than it has ever been and that the stock is trading at an attractive level, the deal is sealed for Genovese. As a result, the four-star analyst maintained a Buy rating and $16 price target. This figure puts the upside potential at 50%. (To watch Genovese’s track record, click here)Turning now to the rest of the Street, opinions are split almost evenly. 3 Buys and 2 Holds add up to a Moderate Buy consensus rating. At $14, the average price target brings the upside potential to 30%. (See Adtran stock analysis on TipRanks)Sirius XM Holdings (SIRI)Next up we have Sirius XM Holdings, a leading audio entertainment company that offers a platform for subscription and digital advertising-supported audio products. While shares have underperformed the broader market since February 19, several factors could help SIRI take off post-pandemic.Citing recent comments from CFO David Frear as well as an improved outlook for new car sales in the U.S., J.P. Morgan analyst Sebastiano Petti sees SIRI’s long-term growth prospects as being even stronger. “We are increasingly bullish on the fundamentals of the legacy SIRI business as auto sales improve from April’s trough and churn/conversion rates come in better than initially expected exiting 1Q,” he explained. The above also supported the firm’s decision to make it the top pick in June’s Spectrum of Opportunity report.Looking at the company’s standing, Petti likes its “resilient subscription business model, strong FCF generation, low leverage, solid liquidity profile, and an improving backdrop.” He also stated, “At 14.6x 2021E FCF (16.6x fully-taxed), we believe SIRI shares are attractively valued given the company’s strong growth outlook as trends normalize post-COVID-19.”All of the above prompted Petti to bump up his estimate for EBITDA by 3%, with the figure now landing at $603 million. On top of this, the analyst also trimmed his call for 2020 SIRI self-pay net losses to 925,000, from the previous estimate of -1.11 million. What drove this revision? Better-than-expected new and used auto sales in the second quarter.“We see potential upside to our 2020 self-pay net add estimate given the likelihood for 2020 SAAR over 12.5 million following May’s better than expected results, continued dealership re-openings, and pickup in economic activity. In mid-May, SIRI’s CFO noted that new car sales were 35% below the prior year with used car sales trending ~20% lower year-over-year – better than declines of 55-60% at the time of 1Q earnings. Consistent with management commentary at the JPM TMC conference, we now look for better churn and conversion rates in 2020 with the former benefitting from a sharp decline in vehicle related churn,” Petti added.Unsurprisingly, Petti continues to give SIRI his stamp of approval. Along with an Overweight rating, he keeps the price target at $7. Should the target be met, a twelve-month gain of 19% could be in store. (To watch Petti’s track record, click here)Looking at the consensus breakdown, 5 Buys, 3 Holds and 1 Sell have been issued in the last three months. This means that SIRI gets a Moderate Buy consensus rating. Based on the $6.51 average price target, shares could surge 11% in the next year. (See Sirius XM stock analysis on TipRanks)Avid Bioservices Inc. (CDMO)Focused on developing and manufacturing therapies derived from mammalian cell culture, Avid Bioservices wants to help improve the lives of patients. Despite the fact that some healthcare names have experienced major COVID-related disruptions, the pandemic has actually created opportunities for this company.After a recent conference call, Craig-Hallum's Matt Hewitt tells clients that “Avid Bioservices is the top name that we would be buying.” The four-star analyst points out that while there was an equipment issue in the previous quarter, this has been addressed, with the piece of equipment now running properly again.Most important, however, is the increased demand the company is witnessing thanks to COVID-19. “While some pharma/biotech companies have delayed clinical trials, this hasn’t affected any of the products that Avid manufactures, with some customers actually requesting a greater amount of material. Additionally, Avid has increased its inventory of key inputs, helping to minimize supply disruption,” Hewitt explained.It should also be noted that prior to the pandemic’s onset, capacity was tight, so customers may want to take care of this sooner, something that stands to benefit CDMO’s backlog, in Hewitt’s opinion. “There may also be an opportunity for the company to produce treatments or vaccines for the coronavirus, as long as they are antibody-based (not viral vector-based),” the analyst added.On top of this, in May, the company broke the news of its partnership with Aragen Bioscience. The collaboration enables CDMO to offer customers Aragen’s cell line development expertise, while Aragen is able to direct customers to Avid for their process development and manufacturing requirements.Weighing in on the implications, Hewitt stated, “While this announcement may have been ignored by many investors, we view it as a key addition to the company’s platform... As several other CDMOs offer cell line development services (Catalent launched a new technology back in November), we believe this partnership helps fill a key gap in Avid’s service offerings, with cross-sales already beginning to take place. Longer term, we see the potential for more partnerships like this to be signed, particularly for finished dose manufacturing.”According to Hewitt, the growing demand also means that CDMO could expand its manufacturing capacity sooner than he originally expected. It also doesn’t hurt that its CEO search is set to wrap up soon, with the appointment potentially acting as a catalyst for shares.In line with his bullish take, Hewitt reiterated a Buy rating and $10 price target. This target conveys his confidence in CDMO’s ability to climb 40% higher in the next twelve months. (To watch Hewitt’s track record, click here)CDMO has stayed relatively under-the-radar so far, with its Moderate Buy consensus rating breaking down into only 1 Buy. Additionally, the $9 average price target implies 26% upside potential. (See Avid Bioservices stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.