• Disney+'s 'Hamilton' gambit pays off, giving platform a big boost: Data
    Yahoo Finance

    Disney+'s 'Hamilton' gambit pays off, giving platform a big boost: Data

    ‘Hamilton’ is continuing to soar following its Disney+ debut with 80% of users tuning in to watch the Broadway phenomenon, according to research complied by 7Park Data.

  • Amazon tells employees to delete TikTok, then says email was 'sent in error'
    Yahoo Finance

    Amazon tells employees to delete TikTok, then says email was 'sent in error'

    Amazon has told employees to remove TikTok from their phones by Friday end of day, or lose access to their Amazon email.

  • Remote Work and Remote Learning Are Driving a Surge in PC Demand
    Motley Fool

    Remote Work and Remote Learning Are Driving a Surge in PC Demand

    The coronavirus pandemic is creating a boom in demand for traditional PCs, due to a wholesale shift to remote work at many companies across multiple industries. In addition, educational institutions have also moved toward remote learning solutions.

  • Apple Stock Is Up 30% This Year. What's Next?
    Motley Fool

    Apple Stock Is Up 30% This Year. What's Next?

    While work-from-home stocks like Zoom Video and Peloton Interactive may have been getting much of the attention in financial media as the highfliers of the current market rebound, the world's most valuable publicly traded company has been regularly hitting new all-time highs as well. Apple (NASDAQ: AAPL) now has a market capitalization of $1.65 trillion, with shares trading above $380. On the flip side, the stock's strong price action may have attracted some new investors who are wondering whether there's still upside ahead for the tech giant.

  • Better Buy: Shopify vs. MercadoLibre
    Motley Fool

    Better Buy: Shopify vs. MercadoLibre

    MercadoLibre (NASDAQ: MELI), the leading e-commerce player serving Latin America, has seen its stock climb more than 75% since the beginning of the year, trouncing the S&P 500. Let's compare both companies in terms of their growth, addressable market, financial stability, leadership, and valuation to pick a winner. Over the last several years, Shopify's growth has been slowing as it gets larger, but it still posts impressive year-over-year gains in the 40%-plus range.

  • 2 Stock Bubbles That Could Pop in the Next Market Crash
    Motley Fool

    2 Stock Bubbles That Could Pop in the Next Market Crash

    The Nasdaq hitting a record high in July is just the exclamation point on top of it all, reminding investors that many stock prices are out of control. Below are two stocks that at this point are bubbles and could be ready to pop the next time there's a market crash. Shares of virtual care provider Teladoc (NYSE: TDOC) are soaring this year as people are staying home amid the pandemic and looking for ways to minimize their exposure to COVID-19.

  • $3,000 Invested in These 3 Top Stocks Could Make You Rich in 10 Years
    Motley Fool

    $3,000 Invested in These 3 Top Stocks Could Make You Rich in 10 Years

    Beaten-down stock prices aren't the only measure of a bargain stock. Long-term prospects can be a great barometer of future success.

  • TikTok Gets an Amazon-Sized Scare
    Bloomberg

    TikTok Gets an Amazon-Sized Scare

    (Bloomberg Opinion) -- What was a turbulent enough week for TikTok turned downright bizarre on Friday.Already, Secretary of State Mike Pompeo had warned that the Trump administration was looking at banning the short-video platform owned by Beijing-based parent ByteDance Ltd. over data-privacy concerns, and President Donald Trump himself said h e was considering banning TikTok as one way to retaliate against China over the coronavirus. Then things got worse when Amazon.com Inc. on Friday sent an email to employees telling them to delete the TikTok app from mobile devices they use to access company email, citing “security risks.”The bizarre part happened just hours after that, when Amazon issued a statement saying the it had sent the email to its employees “in error” and there was no change in their policies toward TikTok. All clear? Not quite. For soon after Amazon corrected the record on its TikTok policy, Wells Fargo & Co. confirmed a report from the Information that the bank had told employees to delete the app from work phones because of “concerns about TikTok’s privacy and security controls and practices.”For sure, the company dodged a bullet when it comes to Amazon. But it is unknown whether the e-commerce giant intends to resend a similar email on TikTok policy in the future; clearly, someone drafted something. And the government threats remain. Not only that: The prospect of a potential ban has brought widespread anxiety to the TikTok community. In recent days, many creators posted tearful “goodbye” videos, with some asking their viewers to follow their accounts on other platforms such as YouTube and Instagram. What has been a slow boil of troublesome developments risks cascading into a full-blown public relations crisis. Whether or not the security concerns are justified or the motivations political, TikTok can and should do a lot more to address them and take more control of the narrative. TikTok’s responses, thus far, have been low-key. The company has said it keeps its user data in the U.S. with backups in Singapore and has never provided data to the Chinese government. On Friday, in response to the initial Amazon news, it said in a statement that “user security is of the utmost importance” to TikTok, adding it hadn’t heard from Amazon about its concerns and looks forward to a “dialogue so we can address any issues” the tech giant may have. A more proactive response is in order, and here are some things TikTok can do. First, statements aren’t enough. Where is TikTok’s CEO? Earlier this year, ByteDance hired former Walt Disney Co. executive Kevin Mayer to head up TikTok. You’d think the veteran media executive would be the perfect ambassador to help tamp down concerns. He needs to get out there and explain TikTok’s side of the story, whether in interviews to print press or on TV. He should know the basics of crisis management and PR strategy, following his long tenure in the upper ranks of a U.S. entertainment giant.Second, the Wall Street Journal on Thursday said ByteDance was considering making changes to its corporate structure, including the creation of a new management board for TikTok or designating a new headquarters for the company outside of China. While it won’t make a huge difference as TikTok will be still owned by the China-based ByteDance, both are easy, low-hanging-fruit-type moves that would at least give the appearance of more autonomy. They should go ahead and announce the changes as soon as possible. It also wouldn’t hurt to remind the public of TikTok’s growing U.S. workforce.And finally, TikTok needs to forcefully defend itself against the Trump administration’s conjecture and allegations. Yes, it’s a bit of a tricky situation as any pushback can backfire if not done tactfully, but the company can’t afford not to respond. Further, it should hire an external, independent consulting firm to do a full security audit. Anything to assuage the security and privacy concerns would help as the pressure isn’t going away. Late Friday, Fox Business’s Charlie Gasparino reported the White House is looking at using the Committee on Foreign Investment review as possible way to ban TikTok by saying its prior acquisition of Musical.ly was illegal. ByteDance has been under review by the interagency committee in the U.S. for its 2017 purchase of the lip-synching startup.In many ways, TikTok’s situation is similar to the public relations frenzy over Zoom Video Communications Inc. in early April. At the time, the video-conferencing company — whose service had seen an unprecedented surge from business customers and other entities looking to connect under lockdown — faced an avalanche of scrutiny over its security and privacy practices, including its use of Chinese servers. In response, CEO Eric Yuan proactively made himself available for numerous media interviews and helped restore his company’s reputation. He conducted weekly webinars, hired security experts and did whatever it took to educate the public that fears concerning his company’s products were overblown and that Zoom had taken concrete steps to address the issues. The strategy appears to have worked, as Zoom has managed to both retain customers and attract more to its platform.TikTok should take note and do the same. Hunkering down and doing the bare minimum is not a great strategy.(The third paragraph of this column was updated to include information about Wells Fargo’s ban of the TikTok app on its employees’ work phones.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 1 Reason I’ll Never Sell Garmin
    Motley Fool

    1 Reason I’ll Never Sell Garmin

    Having a great balance sheet isn't the only reason to buy a stock, but it's a good place to start. Garmin (NASDAQ: GRMN), which makes high-tech outdoor recreation devices, has such a balance sheet. It is debt-free, with $2.6 billion in cash and marketable securities as of the end of the most recent quarter.

  • 3 Things Wells Fargo Stock Bulls Need to Happen Soon
    Motley Fool

    3 Things Wells Fargo Stock Bulls Need to Happen Soon

    The beleaguered banking giant has had a tough time lately. Here's what it needs to catch a break.

  • 3 Dividend-Paying Tech Stocks to Buy Right Now
    Motley Fool

    3 Dividend-Paying Tech Stocks to Buy Right Now

    Investing in these diverse technology companies will allow you to benefit from hot trends while getting paid along the way.

  • 3 Top U.S. Stocks to Buy in July
    Motley Fool

    3 Top U.S. Stocks to Buy in July

    FedEx (NYSE: FDX), Lululemon (NASDAQ: LULU), and Intel (NASDAQ: INTC) are all quietly making moves that set them up nicely for the future. Interestingly, FedEx and Lululemon have been able to adapt to COVID-19 realities and increase business, while Intel works behind the scenes to deliver advanced technology today. In 2019, FedEx cut ties with Amazon (NASDAQ: AMZN), causing many on Wall Street to shake their heads.

  • Is Discover Financial Services a Buy?
    Motley Fool

    Is Discover Financial Services a Buy?

    Discover Financial Services (NYSE: DFS) is a credit card company, but it's also an online bank with about $112 billion in assets. Discover is a payment processor as well, but unlike Visa and Mastercard, it is also a lender, loaning money through its own bank.

  • Wells Fargo Tells Workers to Remove TikTok App From Work Phones
    Bloomberg

    Wells Fargo Tells Workers to Remove TikTok App From Work Phones

    (Bloomberg) -- Wells Fargo & Co. said it asked employees to remove TikTok from their work phones due to concerns about the security of the social-video app.“We have identified a small number of Wells Fargo employees with corporate-owned devices who had installed the TikTok application on their device,” a spokesman for the bank wrote in an emailed statement on Friday. “Due to concerns about TikTok’s privacy and security controls and practices, and because corporate-owned devices should be used for company business only, we have directed those employees to remove the app from their devices.”U.S. officials have raised questions about the security of TikTok, which is owned by Chinese company ByteDance Ltd. Secretary of State Mike Pompeo recently told Americans not to download the app unless they want to see their private information fall into “the hands of the Chinese Communist Party.”Read more: Trump Says He’s Considering a Ban on TikTok in the U.S.TikTok has repeatedly denied allegations that it poses a threat to U.S. national security. “User security is of the utmost importance to TikTok – we are fully committed to respecting the privacy of our users,” a TikTok spokesperson wrote in an email.Earlier on Friday, Amazon.com Inc. also told employees to delete TikTok from mobile devices they use to access company email, but the e-commerce giant later said that was a mistake. The Information reported Well Fargo’s decision earlier.Read more: TikTok Mulls Changes to Business to Distance Itself From ChinaFor 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.

  • Amazon’s Kuiper Satellite Plan Wins Backing of FCC Chair
    Bloomberg

    Amazon’s Kuiper Satellite Plan Wins Backing of FCC Chair

    (Bloomberg) -- Amazon.com’s plan for a fleet of 3,236 communications satellites won the backing of the U.S. Federal Communications Commission chairman, who said he had asked fellow commissioners to approve the venture.“Satellite constellations like this aim to provide high-speed broadband service to consumers in the U.S. and around the world,” Ajit Pai said in a tweet on Friday. Pai added that he had called for conditions on the proposed service by Amazon subsidiary Kuiper Systems without specifying them.Pai’s request is likely to result in approval in closed-door voting at the agency, where he leads a Republican majority.Amazon founder Jeff Bezos wants to launch the small satellites in low orbits to provide internet coverage. Separately, Space Exploration Technologies Corp., or SpaceX, has launched more than 480 of a planned 12,000 satellites; in October 2019, the company founded by Elon Musk sought permission for 30,000 more.The FCC coordinates coordinates trajectories and radio-frequency use.Amazon last year called Kuiper “a long-term project that envisions serving tens of millions of people who lack basic access to broadband internet.”“There are still too many communities where internet access is unreliable or prohibitively expensive” and Project Kuiper will help close that gap, Dave Limp, Amazon senior vice president for devices and services, said in an emailed message. “We appreciate that Chairman Pai shares our commitment to the issue.”(Updates with comment from Amazon in final 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.

  • Bloomberg

    LinkedIn Sued for Spying on Users With Apple Device Apps

    (Bloomberg) -- Microsoft Corp.’s LinkedIn programmed its iPhone and iPad applications to divert sensitive information without users’ knowledge, according to a class-action lawsuit.The apps use Apple’s Universal Clipboard to read and siphon the data, and can draw information from other Apple devices, according to the complaint filed Friday in San Francisco federal court. The privacy violations were exposed by Apple and independent program developers, according to the suit.Developers and testers of Apple’s most recent mobile operating system, iOS 14, found LinkedIn’s application was secretly reading users’ clipboards “a lot,” according to the complaint. “Constantly, even.” Apple’s clipboard often contains sensitive information users cut or copy to paste, including photos, texts, emails or medical records.“LinkedIn has not only been spying on its users, it has been spying on their nearby computers and other devices, and it has been circumventing” Apple’s clipboard timeout, which removes the information after 120 seconds, according to the suit.LinkedIn spokesman Greg Snapper said the company is reviewing the lawsuit. Erran Berger, head of engineering at LinkedIn, said in a July 2 tweet that the company had traced the problem to a code path that performs an “equality check” between contents on the clipboard and typed text. “We don’t store or transmit the clipboard contents,” he added.The lawsuit was filed on behalf of Adam Bauer of New York City, who says he routinely used the LinkedIn App on his iPhone and iPad.The suit seeks to represent a class of users based on alleged violations of federal and California privacy laws and a breach of contract claim.LinkedIn’s information collecting was reported earlier this month by outlets including the Verge and Forbes.The case is Bauer v. LinkedIn Corp., 20-cv-04599, U.S. District Court, Northern District of California (San Francisco).(Updates with LinkedIn spokesman 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.

  • Bloomberg

    Homes Can Shelter India’s China Dream After Covid

    (Bloomberg Opinion) -- India quite literally needs to put a roof over its China dream.It took a pandemic and a lockdown to highlight the precarious existence of the country’s blue-collar workers. Left without jobs and shelter, an estimated 30 million — roughly a fifth of the urban labor force — have gone back to their villages, with many completing long, hazardous journeys on foot when trains and buses shut down.No wonder, then, that Prime Minister Narendra Modi’s government cleared a plan this week to build inexpensive rental dwellings in cities for 350,000 workers.Giving rural migrants an incentive to return is crucial to restoring economic activity to pre-Covid levels. But there’s an opportunity here to do much more. For India to industrialize, rethinking the housing situation will be as important as freeing the urban poor from large medical bills and helping them build retirement savings. If the country of 1.3 billion people wants to be a factory to the world — the next China — it must start by giving workers low-cost living quarters.India is sitting on an inventory of more than 1.3 million unsold homes. Mumbai-based property researcher Liases Foras estimates that roughly half of these units could face delays and other execution risk; prices on nearly nine out of 10 apartments may have to be cut by 5% to 15% to hook wary buyers. That’s billions of dollars in lost revenue.It may not be possible to repurpose this stock as worker accommodation. Nevertheless, as losses on pricey condominiums crystallize for struggling developers and stretched financiers, they can be made more bearable by tax breaks, cheap government land and other fiscal support for affordable rental housing — a new revenue stream. Assured of a decent rental yield, investors will be encouraged to finance this new asset class. Institutional capital will return to depressed real estate. Construction will absorb surplus manpower and create badly needed wage income. Cheap urban rents will bring India the full benefit of labor mobility, which isn’t constrained by Chinese-style hukou, or city registration requirements. Yet the rapid urbanization that turned East Asia into an exporting powerhouse and created a foundation for mass consumption has eluded the country. Young men migrate to cities for economic reasons, and return to their villages in old age. Apart from cultural factors, availability and cost of housing is the main reason why women and children stay behind, making urbanization in India both slow and rather “masculine,” as economist Chinmay Tumbe, who has studied migration trends since the 1870s, has put it.While the gender ratio of large cities is no longer as skewed as it was in the early 20th century — 500 to 600 women for 1,000 men — it’s still a lopsided 868 in Delhi. For Surat, a major diamond-cutting and textile center on India’s western coast, the ratio is even more unbalanced at 756. Surat is still an exception in that it has a lot of manufacturing. A peculiar facet of rural-urban migration in India, according to Tumbe, is that most of the workers end up in service-industry jobs. Creaky infrastructure, infuriating red tape, occasionally overvalued currency and lack of meaningful free-trade arrangements have held back the share of manufacturing in the economy to 16% — a modest rise from 5% in 1901. Back then, British colonialists had kept India under-industrialized so they could sell their wares in a market that produced little of its own. Now, it’s a small urban elite — whose own ancestors left villages a long time ago — that’s keeping new migrants employed as chauffeurs, housemaids, condominium security and ATM guards.The economy is geared to satisfy the top 150 million earners, as Rathin Roy, until recently the director at the New Delhi-based National Institute of Public Finance and Policy, has argued. This depresses the wages that would be generated by becoming good at making what the next 300 million want. In the absence of broad-based income growth, consumers boosted spending by borrowing. When they eventually started to deleverage last year, India faced an acute demand funk, even for 7-cent munchies.Since then, Covid-19 hasn’t been the only wake-up call. Rapidly deteriorating U.S.-China relations portend sweeping changes in global supply chains, but even in its own neighborhood, India isn’t competitive in manufacturing. A once-in-a-generation opportunity could slip out of its grasp. At a furniture store in Ho Chi Minh City some years ago, I saw colorful satin-upholstered sofas whose sides were drab black polyester. This, I was told, was because the sides would take dirt from motorbike tires and must be easy to clean: A Vietnamese family would park the two-wheeler, its most precious possession, next to the living-room furniture to keep it safe at night. Societies that value and make things that workers themselves use lift living standards and labor productivity. No wonder Vietnam, now a hub for Samsung Electronics Co., is winning investments from Inventec Corp., Apple Inc.’s main assembly partner for AirPods, as well as Hon Hai Precision Industry Co., better known as Foxconn.India must also make more shoes, clothes and toys. To create a permanent urban workforce that will both produce and consume those wage goods, it should also build millions of new homes.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Peloton Stock Popped Today
    Motley Fool

    Why Peloton Stock Popped Today

    Shares of Peloton Interactive (NASDAQ: PTON) jumped 6.2% on Friday after its chief financial officer hinted that the home-based fitness equipment maker could soon debut a lower-cost version of its popular treadmill. During Barron's Investing in Tech conference call on Wednesday, Peloton CFO Jill Woodworth said the company was considering a lower-priced treadmill as its next product offering. Investors' excitement over a potential new treadmill product launch drove Peloton's stock higher on Friday.

  • Why The Shyft Group Stock Popped 14% Today
    Motley Fool

    Why The Shyft Group Stock Popped 14% Today

    Shares of The Shyft Group (NASDAQ: SHYF), an automotive company specializing in the manufacture of commercial delivery vans, and particularly vans designed to facilitate e-commerce deliveries, soared a staggering 14.1% in Friday trading after Reuters reported that the biggest e-commerce company on the block is placing a big order with Shyft. As Reuters explained, Amazon.com (NASDAQ: AMZN) is ordering 2,200 of Shyft's "Utilimaster" walk-in delivery vans. Indeed, according to the news organization, the order was apparently placed last year, and at least some of Shyft's trucks are already in Amazon's possession and have been "seen recently operating in Chicago."

  • UnitedHealth Group (UNH) Gains But Lags Market: What You Should Know
    Zacks

    UnitedHealth Group (UNH) Gains But Lags Market: What You Should Know

    UnitedHealth Group (UNH) closed the most recent trading day at $291.23, moving +0.02% from the previous trading session.

  • Livongo Health (LVGO) Stock Sinks As Market Gains: What You Should Know
    Zacks

    Livongo Health (LVGO) Stock Sinks As Market Gains: What You Should Know

    Livongo Health (LVGO) closed at $105.68 in the latest trading session, marking a -1.75% move from the prior day.

  • Amazon Says Delete TikTok Email to Employees Was an Error
    Bloomberg

    Amazon Says Delete TikTok Email to Employees Was an Error

    (Bloomberg) -- Amazon.com Inc. said an email sent to employees instructing them to delete the social-media app TikTok from mobile devices they use to access company email was a mistake.In a statement Friday, the company said: “This morning’s email to some of our employees was sent in error. There is no change to our policies right now with regard to TikTok.”The online retailer had earlier instructed employees to delete the app by the end of the day. “Due to security risks, the TikTok app is no longer permitted on mobile devices that access Amazon email,” the initial message said. “If you have TikTok on your device, you must remove it by 10-Jul to retain mobile access to Amazon email.”U.S. officials have raised security concerns about TikTok, which is owned by Chinese company ByteDance Ltd. Secretary of State Michael Pompeo recently told Americans not to download the app unless they want to see their private information fall into “the hands of the Chinese Communist Party.”TikTok has repeatedly denied allegations that it poses a threat to U.S. national security.“User security is of the utmost importance to TikTok – we are fully committed to respecting the privacy of our users,” a TikTok spokesperson wrote in an email before Amazon said its message was sent in error.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.

  • Bloomberg

    N.J. May Borrow $9.9 Billion Under Murphy Deal With Lawmakers

    (Bloomberg) -- New Jersey Governor Phil Murphy and Democratic legislative leaders have agreed on a plan for the state to borrow as much as $9.9 billion to cope with revenue losses from the coronavirus outbreak.The Assembly had approved a bill in June authorizing at least $5 billion in borrowing backed by tax collections, but Senate President Stephen Sweeney had held it up, seeking more legislative input. Under the agreement among Murphy, Sweeney and Assembly Speaker Craig Coughlin, a four-member commission -- two senators and two assembly members -- would have to approve each request to borrow with a majority vote.The Senate intends to act on an amended measure next week. The bill would then return to the Assembly for concurrence before reaching Murphy’s desk. Both houses are controlled by Democrats.Murphy, 62, a first-term Democrat and retired Goldman Sachs Group Inc. senior director, has said that New Jersey faces “Armageddon” without legislative authority to borrow, as well as federal aid. The borrowing in part would rely on general-obligation bonds and the Federal Reserve’s Municipal Liquidity Facility, according to Sweeney and MurphyRepublicans said the plan would lead to tax increases. They threatened a legal challenge, citing the state constitution’s ban on this kind of financing for revenue needs; Murphy has said he is confident in an emergency clause.Federal SupportThe authorized borrowing amount, $9.9 billion, is 98% of the estimated $10.1 billion revenue shortage projected through June 2021. Including coronavirus-related expenses combined, Murphy said, the state could be short $20 billion -- about equal to the state’s total income-tax and corporation business-tax collections in fiscal 2019.“It does not obviate the need for federal cash,” Murphy said of the borrowing plan at a Trenton news conference.Sweeney, New Jersey’s highest-ranking state lawmaker, had said in recent weeks he needed to know which taxes would rise, and by how much, to repay the bonds before posting the bill. But he said his thinking has changed.“Before we talk about higher taxes we are going to have to talk about reforms,” Sweeney said in an interview. Encouraging school districts to regionalize -- as some had been studying for years prior to the novel coronavirus outbreak -- would be one way to bring savings, he said. Wall Street ratings companies also want to see spending cuts, he said.Senator Declan O’Scanlon, a Republican from Little Silver, said the potential borrowing set a new standard for poor fiscal moves.“That’s exactly why borrowing schemes like this must be approved by the public,” O’Scanlon said in a statement. A colleague, Senator Sam Thompson of Old Bridge, said taxpayers would shoulder bond payments for 35 years. Sweeney said he had renewed confidence in a $500 billion state and local government stimulus bill sponsored by U.S. Senator Bob Menendez, a New Jersey Democrat. Republican congressional leaders have balked at the effort, which would give states like New Jersey money to plug budget holes, but Sweeney said that may change now that the virus is spreading rapidly in some Republican-led states.“With more red states in, it’s not just a blue issue -- it’s a United States issue,” Sweeney said.‘Revenue Raisers’In a Bloomberg Television interview on Thursday, Murphy said to expect unspecified “revenues raisers” -- typically, tax increases -- in the budget he presents to the legislature for the nine-month spending year that starts Oct. 1.“We did not get into any discussions on revenues,” Murphy said, referring to the pending Senate borrowing authorization bill. “It’s too early to tell on taxes.”New Jersey’s state credit is rated the second-worst behind Illinois carrying an A3 rating by Moody’s and A- by S&P and Fitch. The state has about $44 billion in bonded obligations, as of June 30, 2019, according to the state’s debt report released in April.Most of New Jersey’s outstanding debt isn’t issued by the state itself, but rather state-run entities including the New Jersey Economic Development and the New Jersey Transportation Trust Fund authorities. Those bonds are backed by state revenues that are subject to appropriation by the legislature.Murphy’s planned borrowing would be backed by the state’s full faith and credit pledge and repaid with general fund revenue, a type of debt that under ordinary circumstances is subject to voter approval. About $1.8 billion, or 4.6%, of New Jersey’s bonds are general obligations, according to its most recent debt report.(Updates with Sweeney comments starting in second 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.

  • Nasdaq Hits 3rd Straight Record as Tesla Tops $1,500 and Zoom Zooms to New Highs
    Motley Fool

    Nasdaq Hits 3rd Straight Record as Tesla Tops $1,500 and Zoom Zooms to New Highs

    The stock market has posted an amazing rebound from its March lows, but the real standout among major market benchmarks has been the Nasdaq Composite (NASDAQINDEX: ^IXIC). Tesla (NASDAQ: TSLA) and Zoom Video Communications (NASDAQ: ZM) have been among the top performers in the stock market lately, and today both companies saw their stocks move to new record levels. For Tesla, momentum seems to be unstoppable right now, even as short-sellers remain skeptical of the electric vehicle maker's prospects.

  • Will NVIDIA Stock Surge to $500?
    Motley Fool

    Will NVIDIA Stock Surge to $500?

    Strong growth in several massive markets will help drive NVIDIA's (NASDAQ: NVDA) share price to $500. So says Rosenblatt Securities analyst Hans Mosesmann. On Friday, Mosesmann reiterated his buy rating on NVIDIA's stock and boosted his target price from $400 to $500.