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For Immediate Release
Chicago, IL – July 2, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Ciena Corp. CIEN, United States Cellular Corp. USM, T-Mobile US, Inc. TMUS and Nokia Corp. NOK.
Here are highlights from Wednesday’s Analyst Blog:
Solid Q2 for Wall Street Despite Economic Turmoil
The current state of affairs in the second quarter of 2020 was a bit of an oxymoron for the Americans — on one hand, the Wall Street recorded the best quarter in more than two decades, while on the other the U.S. economy was hit by the coronavirus-induced recession. Strange as it might appear at the outset, the contrasting characteristics highlighted the vagaries of the market and the turbulent economic conditions that
ViacomCBS said it will replace its current chief financial officer with a veteran with experience managing businesses at Amazon and Pandora, the latest sign of how new dependence on streaming media and mobile devices is upending the operations of traditional media conglomerates.
Christine Spade, who had been the CFO of the Showtime cable operation before taking the role at its parent corporation, will step down from her position after ViacomCBS reports second-quarter earnings. She is expected to “transition into an advisory role” with the company. Spade, who was named to the role in 2018 after former CBS CEO Joe Ianniello made her CFO of that company, will be replaced by Naveen Chopra, who had been working as CFO of Amazon’s devices and services operations.
More from Variety
The move comes as ViacomCBS is poised to wade more deeply into Hollywood’s streaming wars,
The Last Week In A Nutshell
What Happened: “The S&P 500 is up 1.3% month-to-date (through June 25), but has struggled to push higher as it moves towards its previous peak,” said Lindsey Bell, chief investment strategist for Ally Financial, Inc-owned (NYSE: ALLY) Ally Invest.
“Looking at the breadth of the market is one way to gauge the health of the overall market. Right now, only 39% of S&P 500 stocks have closed above their 200-day moving averages, even though the S&P 500 remains above its own 200-day moving average. That has us wondering how long tech can lead the market higher on its own.”
Remember This: “As good as the recent economic data has been, we want to make it clear, it could still take years for the economy to fully come back,” said LPL Financial Senior Market Strategist Ryan Detrick.
“Think of it like building a
It was billed as one of the most significant changes in Apple’s direction for 20 years.
But on this week’s Tech Tent we ask whether the move to abandon Intel and rely on its own chips will really change anything for Apple’s customers.
There was much that was familiar about the opening keynote at this year’s Worldwide Developers Conference (WWDC).
Presenter after presenter took to the stage at Apple’s Cupertino HQ to tell us they were “so excited” to show us some minor software innovation, whether it was memojis with face masks or an Apple Watch feature which times you while you wash your hands.
But this year’s event was very different in two ways.
Nobody travelled to California – the developers’ jamboree was a virtual event this year. And the keynote ended with some really big hardware news announced by Tim Cook, in what he called a
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