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Everyday PremierCity publishes its choice picking one sole security to buy or to sell. The decision results from the consensus made of the aggregation of multiple choices added from the 100 most important editing financial reviews. Today the selected stock is ****




Uber IPO Could Be One of Five Biggest NYSE Listings in History

Uber chooses the New York Stock Exchange

Uber Technologies has selected the New York Stock Exchange for its imminent initial public offering, handing the trading floor what could be one of the five biggest listings of all time, according to a person familiar with the matter, who asked not to be identified as the details aren’t public.

The ride-hailing giant is expected to publicly file for its offering in April, kicking off a listing that could value the company at as much as $120 billion and is likely to be the biggest of the year, people familiar with the plans have said previously. At that valuation, Uber would only have to float about 16% of its shares to make the top five, according to data compiled by Bloomberg.

https://www.fortune.com/

Levi Strauss valued at $6.6 billion

IPO prices above target

Levi Strauss & Co fetched a higher price than expected in its initial public offering (IPO) on Wednesday, selling $623.3 million in shares as the U.S. jeans maker looks to return to the stock market after 34 years as a family-owned company.
The success of the IPO underscores the diverging fortunes of retail companies over the last few years. Vendors like Levi with consistently popular offerings have flourished as they reach more shoppers through online channels, while tens of thousands of brick-and-mortar stores have closed under pressure from e-commerce giants such as Amazon.com Inc.

With the stock market hovering near all-time highs, Levi said it priced its IPO at $17 share, just above its target range of $14 to $16, valuing the company at about $6.6 billion.

https://www.reuters.com/

Disney Closes $71 Billion 21st Century Fox Deal

Birth of a preeminent global entertainment company

Before the end of the East Coast airing of “Jimmy Kimmel Live!”, Disney has formally sealed the deal on its $71 billion acquisition of 21st Century Fox.

“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders,” Disney chairman-CEO Bob Iger said in a statement on Tuesday afternoon. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”

Disney took possession of 21st Century Fox at 12:02 a.m. ET. Assets changing hands in the deal include: Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family, and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions, and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky, and Endemol Shine Group.

https://www.variety.com/

Fiat-Chrysler and PSA mull a merger

Objective: becoming a global player

Fiat Chrysler Automobiles NV Chief Executive Officer Mike Manley gave the clearest response to PSA Group’s nascent overtures for a possible cross-border car alliance: we’re ready to look at anything.

Manley, who took over from late CEO Sergio Marchionne in July and is under pressure to deliver a turnaround for the carmaker’s business in Europe, said Tuesday the U.S.-Italian manufacturer would look at “any deal that would make Fiat stronger.”

Manly was responding to a question at the Geneva Motor Show on whether Fiat Chrysler would engage with PSA. The French carmaker of Peugeot, Citroen and DS cars has started sounding out advisers for a possible deal that would turn the company led by Carlos Tavares into a global player, according to people familiar with the matter. Fiat is among possible targets considered, the people said.

https://www.apnews.com/

Corporate America, not banks, could cause the next recession

The next debt crisis: There’s a $6.3 trillion elephant in the room

The last downturn was triggered by Wall Street and Americans accumulating too much debt — particularly in the sizzling housing market. A decade later, it’s Corporate America borrowing with gusto. Egged on by extremely low rates, US companies have piled on a record-setting $6.3 trillion of debt, according to S&P Global Ratings. All that debt is easy to ignore right now. Default rates are minuscule. Companies are sitting on tons of cash, and their coffers are growing thanks to the soaring US economy and corporate tax cuts.
But eventually, both the economy and corporate profits will slow, leaving companies less firepower to pay down debt. And it won’t be as easy to roll over the debt that’s due. Debt-laden companies would be vulnerable to rising borrowing costs caused by the Federal Reserve’s interest rate hikes. If companies are stuck in a credit crunch, they will have to pull back on hiring and investment. That could be a recipe for a recession.

http://www.cnn.com

ECB move sends stocks lower

Dollar climbs

A gauge of global stock markets stumbled on Thursday while the U.S. dollar rose, as the European Central Bank postponed interest rate hikes to 2020 and launched a new round of cheap loans to banks in an effort to spark the euro zone economy. Equities had drifted lower over the past several sessions before the session’s sharp drop, sparked by the ECB’s change of direction just months after it wound down its massive quantitative easing program.

The ECB’s move puts it in sync with other central banks around the world that have been taking a dovish tack, including the Bank of Canada earlier this week. The ECB also cut its growth and inflation estimates for 2019 as well as those for 2020 and 2021, raising alarm bells for investors once again over global growth.

http://www.reuters.com/

Haven, or how to tackle rising health-care costs

The joint health-care venture between Amazon, J.P. Morgan and Berkshire Hathaway finally has a name

Amazon CEO Jeff Bezos, J.P. Morgan CEO Jamie Dimon and Berkshire Hathaway CEO Warren Buffett last January announced they were teaming up to tackle rising health-care costs. They formed a nonprofit company and named renowned surgeon, author and speaker Dr. Atul Gawande as CEO in June.
“We want to change the way people experience health care so that it is simpler, better, and lower cost,” Gawande said in a statement on Wednesday. “We’ll start small, learn from the experience of patients, and continue to expand to meet their needs.”

http://www.cnbc.com/

FDA Approves Johnson & Johnson’s Ketamine-Derived Drug For Treatment-Resistant Depression

Insurance companies would not pay for an unapproved treatment

The U.S. Food & Drug Administration Tuesday approved Johnson & Johnson’s ketamine-derived nasal spray Spravato for treatment-resistant depression. The green light means ketamine—an anesthetic abused as a party drug but promoted by some doctors without FDA approval as a necessary treatment for the most severely depressed patients—has spawned the first materially new depression treatment in decades.

Following early research by the National Institutes of Health, specialized clinics have offered intravenous ketamine treatments for depression on an off-label basis for many years. But since insurance companies would not pay for an unapproved treatment and psychiatrists are not accustomed to giving patients IV infusions in their offices, Johnson & Johnson began developing and running clinical trials on a related molecule, esketamine, that could receive a new FDA approval and be given to patients more conveniently.

https://www.forbes.com/

U.S. and China said to appear close to deal to roll back tariffs

Formal trade deal could be sealed at a summit around March 27

The United States and China appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunday.acebook would have various options to go to after the currency has been launched.

U.S. President Donald Trump and Chinese President Xi Jinping could seal a formal trade deal at a summit around March 27 given progress in talks between the two countries, the Wall Street Journal reported on Sunday.

https://www.reuters.com/

Facebook stablecoin for WhatsApp is set to hit the market soon

‘Facebook Coin’ Reportedly Coming in First Half of 2019

The social media giant has been in discussion with various exchanges for the launch of its new stable-coin that would allow cryptocurrency transactions between WhatsApp users. Facebook had recently acquired a high profile blockchain team to gear up the process for the same. As many as five different sources have reportedly confirmed that Facebook is going to launch the currency within the first half of the current year, i.e., 2019.

It is also being stated that the currency is in its testing phases with a small pilot group being involved. The coin when launched is expected to be one of the most rapidly growing digital assets since the social media network has an over two and a half billion global user base on the instant messaging application WhatsApp. Experts also believe that Facebook would have various options to go to after the currency has been launched.

https://www.cryptopolitan.com/

TikTok, Facebook rival

Watch out, Facebook.

The social video app TikTok just hit a major milestone as it sets its sights on global teen domination. TikTok has just crossed the 1 billion mark for worldwide installs on the App Store and Google Play, according to data from Sensor Tower, an analyst group that focuses on the mobile market.

“Approximately 663 million of these installs occurred in 2018,” Sensor Tower’s founder Oliver Yeh said in a statement. “To put this into perspective, the Facebook app was installed an estimated 711 million times last year and Instagram saw about 444 million new downloads.”

The 1 billion download figure is also only part of the story, as it does not include the number of downloads the app has received on Android in China, according to Sensor Tower, which also reported that TikTok was the No. 1 non-game app in the U.S. in January.

https://www.usatoday.com/

 

Walmart’s e-commerce sales rose 43 percent during the fourth quarter.

Amazon’s worst nightmare

Walmart is set to assert “worldwide dominance” and become one of “Amazon’s worst nightmares,” according to one analyst. On Tuesday, the U.S. retail giant beat consensus expectations for its fourth quarter on same-store sales, revenue and earnings per share.

Walmart’s e-commerce sales rose 43 percent during the period and for 2019 it’s calling for internet sales to be up another 35 percent. In comments made prior to Walmart’s stellar beat, Burt Flickinger, managing director of Strategic Resource Group, said Walmart was set to, “expand their worldwide dominance in online retail and start in these next two years to become one of Amazon’s worst nightmares.”

https://www.cnbc.com/

 

Pinterest confidentially files for IPO

Valuation of at least $12 billion

Online image search site Pinterest Inc has confidentially filed with the Securities and Exchange Commission for an initial public offering, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The company and its underwriters, led by Goldman Sachs Group Inc and JPMorgan Chase & Co are planning for a late-June listing and is seeking a valuation of at least $12 billion, the newspaper reported.

http://www.reuters.com

Oil falls after record U.S. shale output forecast

Shale production alone will hit a record 8.4 million barrels per day next month

Oil fell on Wednesday after the U.S. government said shale output would rise to a record next month, denting a rally that sent prices to their highest this year. Brent futures eased by 53 cents to trade at $65.92 a barrel by 1312 GMT, still within sight of Monday’s high for the year of $66.83. U.S. futures were at $55.77 a barrel, down 31 cents, having touched a 2019 peak of $56.39 earlier.

The U.S. Energy Information Administration said in a monthly report on Tuesday shale production alone will hit a record 8.4 million barrels per day next month, suggesting little chance of a near-term slowdown in overall U.S. crude output.

http://www.reuters.com