Month: June 2022
Cosmetics giant Revlon files for Chapter 11 bankruptcy protection
Daniel Acker | Bloomberg | Getty Images Cosmetics giant Revlon filed for Chapter 11 bankruptcy protection on Wednesday evening as it grappled with a cumbersome debt load and a snarled supply chain. The company said it expects to receive $575 million in debtor-in-possession financing from its existing lender base, which will help to support its […]
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A shallow recession is on the way, strategists warn. Here’s how it could play out
Traders work, as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE) in New York City, June 15, 2022. Brendan McDermid | Reuters A shallow recession in the U.S. is a “virtual certainty” in the third quarter, according to Destination Wealth Management’s […]
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Buy Dollar General shares as the likelihood of a recession grows, Morgan Stanley says
Dollar General is a defensive stock with “multiple ways” to outperform as the likelihood of recession grows, according to Morgan Stanley. Analyst Simeon Gutman upgraded shares of Dollar General to overweight, saying in a Thursday note that the defensive stock with offensive characteristics should get a boost amid greater inflationary pressures. “In a more prolonged […]
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Billionaire investor Orlando Bravo warns there’s ‘more pain to come’ for the tech sector
Investors asking tech firms for a path to profitability are “not going to love what they see,” said Orlando Bravo, founder of buyout firm Thoma Bravo. Eva Marie Uzcategui | Bloomberg via Getty Images Private equity boss Orlando Bravo has a somber warning for the technology industry. “I think there’s more pain to come,” Bravo, […]
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Boeing is a high risk buying opportunity that could soar 56% from here, Citi says
Boeing shares could soar 56% from here if the company’s three commercial aircraft programs maintain projected levels of profitability — though the buying opportunity is high risk, according to Citi. Analyst Charles Armitage upgraded shares of Boeing to buy/high risk from neutral, saying in a Thursday report that the outlook for the company’s 737 MAX, […]
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The West’s unity over Ukraine could be starting to crack, just as Russia’s invasion gains ground
President of Ukraine Volodymyr Zelenskyy visits the positions of Ukrainian troops located in the Bakhmut city and Lysychansk districts, Ukraine on June 05, 2022. Ukrainian Presidency | Handout | Anadolu Agency | Getty Images LONDON — There are increasing signs that Western unity over the war in Ukraine could be starting to crack as the […]
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Bitcoin sees slight rebound after nearly falling below $20,000, but it’s still at late 2020 levels
Bitcoin has been closely correlated with stock indexes, in particular the Nasdaq, which rose on Wednesday after the U.S. Federal Reserve hiked interest rates by 0.75 percentage point. That’s one reason why bitcoin rose slightly on Thursday. STR | NurPhoto via Getty Images Bitcoin rose on Thursday following a similar jump in U.S. stocks, but […]
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Swiss National Bank hikes rates by half a point, franc surges
Swiss National Bank (SNB), the central bank of Switzerland. FABRICE COFFRINI | AFP | Getty Images The Swiss National Bank raised its policy interest rate for the first time in 15 years on Thursday, joining other central banks in tightening monetary policy to fight resurgent inflation and sending the safe-haven franc sharply higher. The central […]
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Travel has become much more valuable and people are willing to pay more, says Malaysia’s Capital A
Tony Fernandes of the airline discusses its timeline for returning to pre-Covid capacity. Source
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Russia attacking Severodonetsk with ‘all available firepower’; Zelenskyy says Russia has ‘significant advantage’
Russian forces using ‘all available firepower’ to pound Severodonetsk, Ukraine says Russian forces are using “all available firepower” to pound the key target of Severodonetsk and neighboring Lysychansk as well as Bilohorivka, a settlement to the west of the twin cities that are separated by the Siverskyi Donets river. In the latest military update from […]
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