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Oasis Petroleum Inc.
As companies struggle to invest in diversity, Harlem Capital managing partner Jarrid Tingle shares two tangible ways to make meaningful change.
Here's why Tesla's stock continues to be on fire.
(Bloomberg) -- Here’s a list of companies that are planning to halt spending on social media. Some have joined a boycott of Facebook Inc. after critics accused the social network of inadequately policing hateful and misleading content on its platform:Harley Davidson Inc. -- The motorcycle maker said in an email it was pausing Facebook ads in July “to stand in support of efforts to stop the spread of hateful content.” Pernod Ricard SA -- The French distiller of Jameson whiskey and Absolut vodka, which spends more than 1.5 billion euros ($1.69 billion) on advertising annually, is boycotting Facebook and some other U.S. sites through July 31 and working with partners on an app to help victims of online abuse.Daimler AG -- The Mercedes-Benz maker is pausing its paid advertising on Facebook platforms in July, while adding that it expects to the relationship to resume because it’s confident the social-media company will take “necessary steps.”Molson Coors Beverage Co. -- The brewer is choosing to pause advertising on Facebook, Instagram and Twitter while it reviews its own standards and ways to protect the brands and guard against hate speech, Chief Marketing Officer Michelle St. Jacques said in an internal email.Constellation Brands -- The maker of Corona beer and Kim Crawford wines is pausing Facebook ads for the month of July.Dunkin’ Brands Group -- The donut chain is temporarily pausing its paid media on Facebook and Instagram, a spokesperson says, adding that it’s in discussions with Facebook about efforts to stop hate speech and thwart “the spread of “racist rhetoric and false information.”Lego A/S -- Stopping all advertising on social media for at least 30 days to review its standards and will “invest in other channels” during that time.The Body Shop -- The beauty chain says it’s halting paid activity on all Facebook channels and asking the social-media company to enhance and enforce its content-moderation policies.Starbucks Corp. -- Pausing advertising on all social media platforms. Will post on social media without paid promotion.Microsoft Corp. -- Paused global advertising spending on Facebook and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.Unilever Plc -- Halting advertising on Facebook, Instagram and Twitter in the U.S. through Dec. 31.Volkswagen AG -- The ad stop on Facebook affects the direct ad accounts of the German manufacturer’s brands, including Porsche, Audi and Lamborghini. VW, its ad agencies and the Anti Defamation League will enter talks with Facebook over how to deal with hate speech, discrimination and false information, according to an emailed statement.Mars -- Starting in July, a pause on paid advertising globally across social-media platforms, including Facebook, Instagram, Twitter and Snapchat.Target Corp. -- Pausing ads on Facebook in July.Coca-Cola Co. -- Pausing advertising on all social media platforms.Clorox Co. -- Will stop advertising spending with Facebook through December.Conagra Brands Inc. -- Will stop advertising in U.S. on Facebook and Instagram through the rest of the year.Ford Motor Co. -- Halting U.S. social media for 30 days, won’t purchase social media ads for Bronco unveiling.Honda Motor Co. -- “For the month of July, Honda will withhold its advertising on Facebook and Instagram, choosing to stand with people united against hate and racism.” Acura, a Honda brand, said in a tweet that it was “choosing to stand with people united against hate and racism.”Hershey Co. -- Will halt spending on Facebook in July and cut its spend on the platform by a third for the remainder of the year, according to Business Insider.Diageo Plc -- Pausing paid advertising globally on major social media platforms beginning in July.PepsiCo Inc. -- Pulling ads on Facebook from July through August.Verizon Communications Inc. -- “We’re pausing our advertising until Facebook can create an acceptable solution that makes us comfortable and is consistent with we’ve done with YouTube and other partners,” said John Nitti, chief media officer for Verizon.SAP SE -- “We will suspend all paid advertisements across Facebook and Instagram until the company signals a significant, action-driven commitment to combatting the spread of hate speech and racism on its platforms.”Levi Strauss & Co. -- Pausing all paid Facebook and Instagram advertising globally and across all brands through July.Diamond Foundry Inc. -- Pulling all of advertising from Facebook, including Instagram, for the month of July.Patagonia Inc. -- Will pull all ads on Facebook and Instagram, effective immediately, through at least the end of July, pending meaningful action from Facebook.Viber Media Inc. -- The messaging service, owned by Japanese conglomerate Rakuten, plans to cut ties with the social network entirely, according to the Guardian.VF Corp. -- The North Face will pause ads on Facebook for the month of July. Vans, another VF brand, will also pull ad dollars from Facebook and Instagram next month, and said it will use the money to support Black communities through empowerment and education programs.REI -- “For 82 years, we have put people over profits. We’re pulling all Facebook/Instagram advertising for the month of July.”Upwork Inc. -- No Facebook advertising in July.Eileen Fisher Inc. -- Pulling ads from Facebook through July.Adidas AG -- Will stop ads on Facebook and Instagram internationally through July, according to Adweek.Puma SE -- Will stop all advertisements on Facebook and Instagram throughout July.Madewell Inc. -- Will pause ads on Facebook and Instagram through July.Pfizer Inc. -- Removing all advertising from Facebook and Instagram in July, calls on Facebook to heed the concerns of the StopHateForProfit boycott campaign “and take action.”Chipotle Mexican Grill Inc. -- To pause Facebook advertising beginning July 1, according to an email.Chobani -- The Greek-yogurt company paused all paid social-media advertising.Peet’s Coffee -- Paused advertising on Facebook.(Updates with Harley Davidson)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.
In the latest trading session, Halliburton (HAL) closed at $12.57, marking a +0.8% move from the previous day.
Shares of Microsoft Corporation (NASDAQ: MSFT) increased another 11.1% in June, according to data provided by S&P Global Market Intelligence. With investments in personal computers, cloud, and video games, Microsoft continued to excel even while people were sheltering at home during the coronavirus pandemic. Microsoft has been so successful that it's closing physical retail locations for good.
Shares of Graf Industrial (NYSE: GRAF) gained 20% on Thursday after the special purpose acquisition company (SPAC) announced plans to merge with a maker of sensors for self-driving vehicles. The deal would move its merger partner, Velodyne Lidar, onto public markets, joining a host of other companies to use SPACs to go public in recent months. Velodyne Lidar said Thursday it would combine with Graf Industrial to create a company with a pro forma market capitalization of $1.8 billion.
(Bloomberg) -- Facebook Inc. was accused of systemic discrimination in hiring, compensation and promotion of Black people in a complaint to federal civil rights authorities.Thursday’s complaint to the U.S. Equal Employment Opportunity Commission by a Washington-based operations program manager adds pressure on the social network, which is facing an advertising boycott over its failure to remove violent, divisive, racist and discriminatory posts. Along with other major tech companies, Facebook also has been criticized for its lack of diversity.Oscar Veneszee Jr., a decorated 23-year U.S. Navy veteran hired by the company in 2017 to recruit other workers retired from the armed services, said he filed the complaint after his objections to Facebook managers over treatment of African Americans went nowhere. It was filed as a class action to represent other Black people who’ve experienced discrimination inside the company, as well as those who claim they were unfairly denied jobs with the social network.“The only way to get contributions from Black experience is to have more Black employees at the company,” Veneszee said in an interview. “I think the desire is there, but I don’t think there’s an understanding of what’s required to transition to a company that’s more open, to being diverse, bold.”Facebook said “we take any allegations of discrimination seriously and investigate every case.””We believe it is essential to provide all employees with a respectful and safe working environment,” spokesperson Pamela Austin said in an email.Facebook, along with Google and Microsoft Corp., have renewed pledges to prioritize diversity in the wake of nationwide protests and calls to end systemic racism after the police killing of George Floyd. Veneszee said he was motivated to complain to the EEOC in part by recent protests.“We are really as a country talking about getting it right this time,” Veneszee said in the interview. “As I look at our response, I don’t think it has connected to the pain deep enough in order to develop solutions that are going to be better for us as a company.”A recent Bloomberg News analysis of diversity reports published by the world’s biggest tech companies shows little progress has been made transforming them from a predominantly white and male universe, with Black workers remaining mostly absent from management ranks and underrepresented in technical roles.Read More: Zuckerberg Agrees to Meet With Groups Behind Advertising BoycottDespite success at his job and positive feedback from managers, Veneszee said in the complaint, he was denied promotions, stalled by evaluations that said he merely “meets all expectations” as he ran into hostility and discrimination.Veneszee described his frustration as a Black employee of a company where, according to Facebook’s own figures, just 1.5% of employees in technical roles in the U.S. were Black in 2019, and 3.1% were Black among senior leadership. Those percentages have barely budged even as the company has added tens of thousands to a workforce that has grown by 400% over the last five years, according to the complaint.“There’s really no representation of diversity, of Black employees in mind, all the way across the company,” he said in the interview.Veneszee recalled being forced to apologize to a white recruiter after questioning a plan for interns that listed only one of the nation’s more than 100 Historically Black Colleges and Universities. He was told the question drove the recruiter to tears. After being routinely told that he must use the right “tone,” he said he came to realize the company is tone deaf toward Blacks.“Me asking about HCBU shouldn’t make you feel attacked, it shouldn’t offend you if we’re talking about diversity,” Veneszee said. He said it made him feel as if “the way I say things fell on a different set of ears at Facebook.”An EEOC spokesman said the agency can’t confirm or deny when complaints are filed and said they are handled confidentially.Veneszee’s lawyer, Peter Romer-Friedman of the Gupta Wessler firm, said the alleged violations of the Civil Rights Act of 1964 in the complaint should be viewed as an invitation to negotiate.The complaint seeks an independent monitor to determine if Facebook is making progress hiring more Blacks, or if stronger measures are required, he said.“We’re trying to extend an olive branch,” the lawyer said in an interview. “Oscar’s not trying to burn down the company from the inside or outside.”(Updates with company comment in fifth paragraph)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.
Halliburton (HAL) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Entertainment giant Walt Disney (NYSE: DIS) has been suffering for the past few months while its parks and experiences were closed, and only a few have recently reopened. Its main revenue driver during the COVID-19 pandemic has been its streaming services, and it's been finding innovative ways to make them more profitable, such as releasing new films straight to streaming. A new partnership with the Ford Motor Company (NYSE: F) is another path to bringing in much-needed cash.
When Micron Technology (NASDAQ: MU) last provided a quarterly update at the end of March, question marks abounded. With cloud computing, 5G wireless network buildout, and a new generation of gaming consoles and personal computing devices on the way, Micron sees sunnier days ahead. Management had called for revenue of $4.6 billion to $5.2 billion, and adjusted earnings per share of $0.40 to $0.70 a few months ago.
(Bloomberg) -- Velodyne Lidar Inc., a maker of sensors for self-driving vehicles backed by Ford Motor Co., has agreed to merge with blank-check company Graf Industrial Corp., according to a statement Thursday.The market value of the combined company will be about $1.8 billion, according to the statement, which confirmed an earlier Bloomberg News report. New institutional investors and existing Graf Industrial shareholders have committed $150 million to fund the transaction.Velodyne backers including Ford, Baidu Inc., Nikon Corp. and Hyundai Mobis will retain an 80% stake in the combined company. The San Jose-based company will have about $200 million in cash on its balance sheet, and David Hall, Velodyne’s founder, will become executive chairman. Velodyne Chief Executive Officer Anand Gopalan will continue to lead the company.Velodyne creates radar-like systems for self-driving vehicles that use lasers to generate three-dimensional images of a surrounding environment. Its technology is used by carmakers including Mercedes-Benz AG and Ford, according to its website.Graf Industrial, a special purpose acquisition company, or SPAC, raised $225 million in an initial public offering in 2018.Merging with a SPAC has become a popular way for companies to go public as the coronavirus pandemic roils the markets, as an alternative to an initial public offering or direct listing. Online gambling company DraftKings Inc., potato chip maker Utz Quality Foods and fitness company F45 Training Holdings Inc. also struck deals with SPACS in recent months.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.
Zacks Market Edge Highlights: Nike, FedEx, Microsoft, JPMorgan Chase and Bank of America
The Zacks Analyst Blog Highlights: BJ's Wholesale Club, American Outdoor Brands, Career Education, TEGNA and Nintendo
Comcast (CMCSA) owned NBCUniversal signs licensing deal with ViacomCBS to add select Paramount movies and Showtime content on Peacock streaming platform after its launch on Jul 15.
Have you ever dreamed of being that one in a million investor who has the talent to perfectly time the markets?
With many people stuck at home during the second quarter due to the coronavirus outbreak, engagement on all manner of streaming platforms has soared. That includes popular video-streaming services, as well as Amazon.
Ford Motor Company (NYSE: F) today reported its second quarter 2020 U.S. sales results. Click here or visit media.ford.com to view the news release.
Zynga Closes Transformational Acquisition of Istanbul-based Peak; Expands Forever Franchise Portfolio with Toon Blast and Toy Blast
In late February, I wrote an article that suggested that Comcast (NASDAQ: CMCSA) -- parent to NBCUniversal and ultimate owner of new streaming service called Peacock -- was in a league of its own in terms of next-generation advertising technology. Just within the past few days, Roku (NASDAQ: ROKU), Tubi, and Walt Disney (NYSE: DIS) division Hulu all unveiled new technologies that will make the most of their ad-supported streaming platforms.
It's been over a decade since AMD (NASDAQ: AMD) spun off its semiconductor manufacturing segment, the company now known as GlobalFoundries. During the depths of the Great Recession, the deal was deemed necessary to help AMD survive, although AMD maintained the long-term vision was to refocus on technology, chip design, and better investment returns.
Baker Hughes (NYSE: BKR) announced today that the Baker Hughes international rig count for June 2020 was 781 down 24 from the 805 counted in May 2020, and down 357 from the 1,138 counted in June 2019. The international offshore rig count for June 2020 was 194, down 1 from the 195 counted in May 2020, and down 52 from the 246 counted in June 2019.
Ford Motor Company will reveal the all-new Ford Bronco 4x4 family on Monday, July 13 across Disney’s Media Networks – marking the first-ever, prime-time product reveal roadblock across Disney’s broadcast, cable, digital and streaming properties, including ABC, ESPN, National Geographic and Hulu.
The Charles Schwab Corporation ("Schwab") announced that it has completed its asset acquisition of Wasmer, Schroeder & Company, LLC.
The Federal Reserve recently released the results of 2020 bank stress tests, and while no banks are in serious danger, some would see capital levels fall a bit too low for comfort in a prolonged and deep COVID-19 recession. As a result, the Fed issued a formula to govern bank dividends, and there's a real chance bank investors could see dividend cuts from some major financial institutions. In this episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, discuss the news and what it could mean for bank investors.