Examples of my business stories, including sector analysis, currency market summary, tech conference report and breaking news.
Roku Will Continue to Benefit in the Streaming Wars, Analysts Say. The Stock Is Rising.
BARRON’S (Paywalled) – Covid-19 has accelerated a consumer shift to connected TV, which has helped streaming platforms like Roku. Now, as competition intensifies, Roku’s top position in the hardware market and its strong ad sales on free-to-watch channels will continue to boost the company, analysts said. …
Weaker Demand for Chicken Weighs on Tyson’s Business. Its Stock Is Dropping.
BARRON’S (Paywalled) – Weaker demand for chicken and an oversupply will weigh on Tyson Foods ’ business in the current quarter, according to Credit Suisse analyst Robert Moskow, who downgraded the stock to Neutral from Outperform. …
Target, Walmart, and Other Retailers Will Close on Thanksgiving. Online Sales Will Get an Even Bigger Boost.
BARRON’S (Paywalled) – Some of the largest U.S. retailers have said they won’t open their stores on Thanksgiving Day because of the coronavirus pandemic. That doesn’t necessarily mean business will suffer —retailers will simply expand the holiday shopping season and invest even more in ecommerce. …
PayPal Reported Its Strongest Quarterly Earnings Ever. The Stock Is Up 3.6%.
BARRON’S (Paywalled) – PayPal Holdings reported its strongest quarterly performance ever thanks to the accelerated shift to online and contactless payments during the coronavirus pandemic. PayPal beat Wall Street estimates on all key financial metrics. Shares are up about 3.6% in after-hours trading. …
Schlumberger Is Slashing Staff as Virus Hits Revenue.
BARRON’S (Paywalled) – The oil-services company Schlumberger is eliminating 21,000 jobs after a disastrous quarter. Analysts are optimistic. …
Ann Taylor and Lane Bryant Owner Joins Growing List of Retailers Filing for Bankruptcy.
BARRON’S (Paywalled) – The parent company of Ann Taylor and Lane Bryant, Ascena Retail Group (ticker: ASNA), joined a growing list of retailers filing for bankruptcy after suffering declining sales from the coronavirus shutdowns. …
Dunkin’ Donuts Is a Drive-Thru Star. It’s Great for the Pandemic Era, Analyst Says.
BARRON’S (Paywalled) – There is one thing Dunkin’ Brands Group might be better prepared for than Starbucks for the prolonged socially-distanced economy: drive-thrus. …
Harley-Davidson to Cut 700 Jobs as Part of Larger Restructuring Plan.
BARRON’S (Paywalled) – Harley-Davidson said Thursday it will cut nearly 12% of its global workforce world-wide as a result of a restructuring effort by new CEO Jochen Zeitz. …
How the Pandemic Can Bring More Gains for Square and PayPal Stock.
BARRON’S (Paywalled) – If Venmo, the peer-to-peer payment app most commonly used by millennials, can turn itself into a platform for receiving paychecks, that could be more fuel for gains in shares of its parent company PayPal Holdings. The same goes for the Cash App and its parent, Square. …
Film Studios Are Shifting Release Dates. Movie Chain Stocks Are Falling.
BARRON’S (Paywalled) – With Warner Bros. postponing the release of Tenet by two weeks to July 31, movie theaters may not see a major restart until August. …
Cloudiest Tokyo Summer in 129 Years Hits Japan’s Retailers
BLOOMBERG (Paywalled) – Japan’s unusually long and cool rainy season dampened demand for apparel, furniture and other goods, with some retailers already reporting steep drops in merchandise sales. …
Phonebooth-Sized Offices Debut in Japan for Telecommuting Masses
BLOOMBERG (Paywalled) – Call it co-working, Japan style. People on the go will soon be able to find a quiet place to sit down and tap away on a laptop, thanks to phonebooth-sized offices that will be popping up at train stations, airports and skyscraper lobbies. …
Yen Falls as NY Fed Clarified Williams’ Remarks: Inside Japan
BLOOMBERG (Only available on the Terminal) – Yen falls back from a three-week high as the New York Federal Reserve clarifies that comments by its presidents John Williams were about academic research and not potential policy action. Bonds are expected continue their recent uptrend. …
Tokyo blockchain conference looks to uses of technology beyond headline-grabbing cryptocurrencies
THE JAPAN TIMES – The rise of cryptocurrencies has shone the spotlight on their underlying technology, which is known as the blockchain. A wide number of startups are now pitching services using the technology, which is often touted as the next major development since the internet. …
Okinawa monorail system to experiment with ticket gate Alipay payments for Chinese
THE JAPAN TIMES – An Okinawa monorail firm said Thursday it will experiment with accepting fare payments made by Alipay, a QR code-based platform run by China’s Alibaba Group, at its gates to improve convenience for Chinese tourists. …
Foreign entrepreneurs pitch business ideas in Japan startup competition
THE JAPAN TIMES – Amid increased efforts to help non-Japanese talent launch businesses in Japan to boost foreign investment and international competitiveness, the domestic startup scene saw a contest for entrepreneurs with an overseas background last week. …
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