Wall Street Breakfast: Return Of The Stay-At-Home Trade

Improved oil demand, clouded outlook

“While the oil market has undoubtedly made progress… the large, and in some countries, an accelerating number of COVID-19 cases is a disturbing reminder that the pandemic is not under control and is casting a shadow over the outlook,” the IEA wrote in its closely watched . . . → Read More: Wall Street Breakfast: Return Of The Stay-At-Home Trade

Veritone Is Trading On AI Hype With 70% Downside

Veritone (VERI) is mostly a collection of low-quality acquisitions that the market has heaped value upon because of the AI hype around a business that makes up only 20% of the company’s revenue. The company currently trades at an enterprise value to revenue ratio of 7x 2020E revenue, a huge valuation . . . → Read More: Veritone Is Trading On AI Hype With 70% Downside

The Impact Of ETFs On Market Efficiency

By the end of 2018, the amount of assets in exchange-traded funds (ETFs) had passed $6 trillion. The growth in assets has led to many questions about how ETFs are impacting market liquidity, comovement of stocks and market efficiency. Lawrence Glosten, Suresh Nallareddy and Yuan Zou , authors of the September . . . → Read More: The Impact Of ETFs On Market Efficiency

Emerging Markets Rally As Economies Reopen In The Second Quarter

The COVID-19 pandemic continues to impact economies across the globe as they emerge from lockdowns, including emerging markets. Our Emerging Markets Equity team provides an overview of developments over the past month, and takes a look at how the pandemic is driving a trend toward deglobalization as well as new innovations.

Three . . . → Read More: Emerging Markets Rally As Economies Reopen In The Second Quarter

Quarterly Update (Q2 2020)

Here we are after a very interesting quarter.

At the end of February, I was chatting with an investor friend and he mentioned the coronavirus situation in China and how it is already starting to spread in Italy. For all practical purposes, the West was treating the virus as . . . → Read More: Quarterly Update (Q2 2020)

Deep Dive: What to expect as banks report earnings: more loan pain but plenty of fee income

The largest U.S. banks will announce their second-quarter results next week. Investors should expect another big hit to earnings as banks set aside more money to cover expected loan losses. On the other hand, the big banks are also continuing to see a boost to fee income from elevated investment-banking and trading activity, . . . → Read More: Deep Dive: What to expect as banks report earnings: more loan pain but plenty of fee income

A Turning Point For Emerging Market Debt

By Nicholas Hardingham, CFA, Senior Vice President, Portfolio Manager, Emerging Market Debt Analyst, Franklin Templeton Fixed Income; and Robert Nelson, CFA, Vice President, Portfolio Manager, Research Analyst, Franklin Templeton Fixed Income

With inefficiency comes opportunity, according to Franklin Templeton Fixed Income’s Nicholas Hardingham and Robert Nelson. They consider the . . . → Read More: A Turning Point For Emerging Market Debt

Waitr Holdings: A Compelling M&A Target In The Consolidating Meal Delivery Market

Overview

Waitr Holdings (WTRH) pre-released earnings on July 6th, and I believe it’s a signal from management of its intentions to sell the company. With tons of activity going on in the sector, positive macro headwinds, and very positive financials, it looks clear to me that Waitr stock has a disproportionate number . . . → Read More: Waitr Holdings: A Compelling M&A Target In The Consolidating Meal Delivery Market

Tactical Asset Allocation – July 2020

By Alessio de Longis, CFA, Senior Portfolio Manager, Invesco Investment Solutions

By and large, recent global economic data releases have shown signs of stabilization as most economies have begun the reopening process, confirming our Recovery regime initiated in June.

Our macro regime framework continues to . . . → Read More: Tactical Asset Allocation – July 2020

DAPL Ruling Nicks, Doesn’t Negate, ConocoPhillips’ Strategy

As a result of the pandemic demand contraction and March oil price war, ConocoPhillips (COP) is coming off a second quarter in which it curtailed production by over 25%, much of it in the Lower 48.

Cautious optimism about increasing demand and stabilizing oil price, offset somewhat by new waves . . . → Read More: DAPL Ruling Nicks, Doesn’t Negate, ConocoPhillips’ Strategy