Stock

Disney’s stock gets a downgrade as company begins the ‘hard part’ of meeting subscriber goals

Walt Disney Co. shares have surged recently amid optimism for the company’s ambitious streaming targets, and that’s reason enough to take a breather on the stock, according to one analyst.

BMO Capital Markets analyst Daniel Salmon cut his rating on Disney’s stock
DIS,
-3.03%

to market perform from outperform on Monday, just a few days after the media conglomerate held an investor day at which it unveiled the expectation that 230 million to 260 million Disney+ subscribers will be signed up by fiscal 2024. The company also plans to release more than 100 titles to the service every year in a big content push.

“We believe improved vaccination rates could help Disney continue to be a solid ‘reopening’ play, but with considerable multiple expansion recently for both initial vaccine news and Thursday’s direct-to-consumer (DTC) investor day, we step to the sidelines,” Salmon wrote in a note titled “Now The Hard

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Huntington Bancshares to buy Detroit-based TCF National Bank in $6 billion stock deal

Huntington Bancshares of Columbus is buying the Detroit-based parent of TCF National Bank in all-stock, $6 billion deal that will extend Huntington’s footprint into new markets as far west as Colorado.



a large tower in a city: Huntington Bancshares of Columbus is acquiring TCF National Bank, based in Detroit.


© Dispatch file photo
Huntington Bancshares of Columbus is acquiring TCF National Bank, based in Detroit.

The acquisition announced Sunday night will be the biggest in Huntington’s 154-year-old history and nearly twice the size of Huntington’s last big acquisition, the $3.4 billion purchase of Akron-based FirstMerit in 2016.

With a market value of $13.1 billion, Huntington is more than twice the size of TCF, which had a market capitalization of $5.4 billion as of Friday. The deal calls for TCF Financial shareholders to get about three Huntington shares for each of their TCF shares, worth about $38.83 for each of their TCF shares, which closed at $34.78 on Friday.



a man wearing a suit and tie: Huntington Bancshares CEO and Chairman Steve Steinour


© Huntington Bancshares
Huntington Bancshares CEO and Chairman Steve

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Historic stock market volume is likely this week as Tesla goes into the S&P 500

Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory in Grünheide near Berlin, September 3, 2020.

Patrick Pleul | picture alliance | Getty Images

The addition of Tesla into the S&P 500 at the close this Friday will be one of the biggest trading days in history, but it is only the most recent example of an ongoing trend: index managers who make the decisions of what goes in and out of these indexes are becoming increasingly influential.

“Rebalancings have become major trading events because more investors are tied to indexes, so the volume of trading during rebalances has gone way up,” Harry Whitton from market maker Old Mission told me.

Whitton noted that the heaviest days of trading are now typically on major index rebalancings.  The S&P 500 will rebalance on Friday, one of four days a year it does so.  Friday’s rebalance will

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The Dow Is Rising. Google Stock Holds Its Ground.

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Stocks were rising Monday as Congress moves closer to implementing a final economic-stimulus bill.

Futures on the

Dow Jones Industrial Average

rose 250 points, or 0.8%. Futures on the

S&P 500

rose 0.8% as well, while the tech-heavy

Nasdaq Composite

was poised to open up 0.6% despite news of a wide-reaching outage of Google services. Shares of

Alphabet

(GOOGL), Google’s parent company, were marginally lower.

Congress is making another push at completing a more than $908 billion stimulus bill. After investors had grown optimistic in November that a deal would get done soon, stocks took a breathe, moving down as Democrats and Republicans in Congress squabbled over details. Democrats wanted more state and local finding and Republicans wanted more small business liability protection.

The S&P 500 fell about 1% between Dec. 4, the date stocks began that pause and the close of trading on Friday. Now, data showing

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Stock futures pointing higher ahead of opening bell after ending last week on downbeat note

U.S. equity futures are pointing higher early Monday hours before the opening bell after ending last week on a downbeat note. Benchmarks pulled further away from their recent highs Friday as prospects for another aid package from Washington faded, while a surge in virus cases is threatening to inflict more damage on an already battered economy.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 30046.37 +47.11 +0.16%
SP500 S&P 500 3663.46 -4.64 -0.13%
I:COMP NASDAQ COMPOSITE INDEX 12377.872143 -27.94 -0.23%

The proposed $900 billion aid package from a bipartisan group of lawmakers has essentially collapsed because of continued partisan bickering. But there were reports that talks may continue on Monday after President Donald Trump signed a temporary government-wide funding bill into law, averting a federal shutdown at midnight and buying Congress time for the on-again,

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A $7 trillion climate change warning to the stock market from its biggest shareholder

  • BlackRock, which has significant influence on proxy battles against corporations, signalled this week it would support more shareholder resolutions on issues including climate change.
  • The world’s biggest investor has been criticized in the past for not following the words of its CEO Larry Fink, who has said climate will “fundamentally reshape finance,” with enough action.
  • In the past week, Exxon Mobil was targeted by activist investors and a $200 billion New York pension fund threatened to divest from fossil fuel companies.



a boat on a body of water: The Well-Safe Guardian plug and abandonment rig, operated by Well-Safe Solutions Ltd, stands in the Port of Cromarty Firth in this aerial view in Cromarty, U.K., on Tuesday, June 23, 2020.


© Provided by CNBC
The Well-Safe Guardian plug and abandonment rig, operated by Well-Safe Solutions Ltd, stands in the Port of Cromarty Firth in this aerial view in Cromarty, U.K., on Tuesday, June 23, 2020.

The evidence of climate change — from global temperature records to Arctic ice melt, wildfires, hurricanes and flooding — is accelerating. So is investment pressure on corporations.

In the past week, Exxon Mobil

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AstraZeneca Agrees To Buy Alexion Pharma In $39 Bln Cash And Stock Deal

(RTTNews) – British drug major AstraZeneca Plc. (AZN.L, AZN) agreed to buy Alexion Pharmaceuticals Inc. (ALXN) for $175 per share in cash and stock, valuing the Boston-based company at $39 billion.

The deal comes amid AstraZeneca is in late-stage development of a COVID-19 vaccine in partnership with the University of Oxford.

The cash and ADS consideration represents an 45% premium to Alexion shareholders based on the closing stock price of Alexion on 11 December 2020.

AstraZeneca said said that the acquisition allows it to enhance its presence in immunology.

As per the terms of the deal, Alexion shareholders will receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares or ADSs for each Alexion share.

The boards of directors of both companies have approved the acquisition. The acquisition is expected to close in third-quarter of 2021. Alexion shareholders will own about15% of the combined company.

AstraZeneca expects the combined company

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Airbnb and Other Soaring IPOs Can’t Lift the Stock Market. Why That’s Good News.

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DoorDash began trading on the NYSE on Wednesday.


Courtesy of NYSE

An IPO frenzy is under way—rekindling memories of the tech bubble and the stock market tumble that followed. Such fears are overblown.

Sure, the froth in the initial-public-offering market is concerning. Some 19 stocks have doubled on their first day of trading in 2020, the most since 2000, the peak of dot-com mania.

DoorDash

(ticker: DASH) gained 86% on its first day—not even a double—and

Airbnb

(ABNB) surged 113%, taking it from an enticing option to just another overpriced tech stock.

Given all the attention paid to the hot IPOs, it was easy to miss the fact that the value of your stock portfolio likely fell this past week, unless you were lucky enough to get shares of DoorDash, Airbnb, or

C3.ai

(AI). The

Dow Jones Industrial Average

fell 0.6%, to 30,046.37, after a two-week winning streak,

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Tesla Just Lost a Long-Time Supporter on Wall Street. What It Means for the Stock.

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Tesla solar roof home


Courtesy of Tesla


Tesla

lost a bull Wednesday evening.

Longtime Tesla (ticker: TSLA) bull and New Street Research analyst Pierre Ferragu downgraded Tesla stock to Hold from Buy. He thinks it’s a good time to take some profits ahead of Tesla’s inclusion into the

S&P 500.

Ferragu, however, still believes in the long-term outlook and recommends investors buy Tesla stock on any weakness.

The downgrade appears to be about valuation. Ferragu upgraded shares to Buy on Oct. 7 when Tesla stock was about $425. He also took his price target to $578 which, at the time, was the highest target price on the Street.

Since then, Tesla stock has gained 42%, far better than the 6% and 7% respective gains of the

Dow Jones Industrial Average

and S&P 500 over the same span. His price target is still $578 even though he sees shares

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