Intra-stock correlation among the top 50 stocks in the S&P 500 is currently at its highest point since the 2011 European sovereign debt crisis. According to Citi analyst Tobias Levkovich, this phenomenon has likely created a lot of value in segments of the U.S. market.
Fitbit Inc. FIT 2.75% may be poised to deliver a strong quarter in Q2, but investors should expect the Brexit vote to take some of the wind out of the stock’s sails. According to Citi analyst Stanley Kovler, the company’s long-term positive momentum will remain intact.
Following the initial post-Brexit scare, every investor was asking the same question: How will the Brexit impact my stocks? Cantor Fitzgerald analyst Youssef Squali recently went through all of the Internet stocks under the firm’s coverage and adjusted earnings estimates and price targets that were directly impacted by the Brexit vote.
Goldman Sachs analyst Waqar Syed recently went to Houston to meet with management from oil services companies Schlumberger Limited. SLB 1.34%, Halliburton Company HAL 3.4%, Patterson-UTI Energy, Inc. PTEN 3.28%, Oceaneering International OII 1.47% and National–Oilwell Varco, Inc. NOV 2.84%. According to Syed, the companies are already beginning to see green shoots in key business…
An $800 million LendingClub Corp LC 1.65% fund that invests in the company’s online consumer loans is expected to report its first monthly loss in the past 64 months in June. According to a letter to investors from LendingClub CEO Scott Sanborn, LendingClub’s Broad Based Consumer Credit (Q) Fund’s June return “is likely to be…
After being the top-performing stock in the entire S&P 500 in 2015,Netflix, Inc. NFLX 2.06% is down 20.0 percent so far in 2016. According to Canaccord analyst Michael Graham, Netflix shareholders’ 2016 may be on the brink of a major turnaround.
According to data released by the Macao Gaming Inspection and Coordination Bureau, gaming revenue in the month of June came in at 15.8 billion patacas, about 8.5 percent lower than June 2015’s number.
Banks aren’t the only British companies that investors sold hand over fist after the U.K. voted to leave the EU last week.
The Brexit vote caught U.S. investors completely off guard and threatens to be a drag on corporate earnings for years to come. Yet, after an initial steep selloff, the SPDR S&P 500 ETF Trust SPY has rebounded and is now down less than 1 percent since the news.
The post-Brexit attitude toward U.S. bank stocks took a sharp 180-degree turn this week. Shares of the “Big Four” U.S. banks were all down double-digits following the Brexit vote that threatened to rock global financial markets.