Launched by popular demand, we’re bringing you a quick recap of key moves in the market this week. We’ll break it down by sector because your portfolio likely looks the same. Here’s a guide to the market if you’re shy about your sector knowledge (that’s the whole world, by the way).
Each week, we’ll report key updates to 11 sectors, citing big company changes, trending news, and important industry updates.
Here’s this week’s breakdown:
Abu Dhabi is pitching to its private sector for help in raising 50 billion dirham ($13.6 billion) for its stimulus package aimed at diversifying the country’s assets and opportunities as hydrocarbon exports (chief components of petroleum and natural gas) are reported to peak in the next 20 years.
In a similar light, Gulf countries like Oman and Bahrain are feeling the heat amidst the coronavirus outbreak.What’s up? Well, countries like these have high fiscal break-even oil prices- meaning their budgets are V dependent on high demand as these governments are reportedly spending above their means.
And The UK Gov. is finally feeling some love as they launch their ‘low carbon’ hydrogen production initiative.
After years of scandal and dropping sales, Victoria’s Secret is getting a new owner. Their parent company L Brands Inc. is selling a controlling stake of the company to private equity firm, Sycamore Partners which now values the brand at $1.1 billion. L Brands also owns Bath & Body Works. That one will stay on the public markets, while VS is being brought back to a private company. Oh, also, Leslie Wexner — L Brands chairman, founder, alleged Epstein BFF, and the longest-serving CEO on the S&P 500 is stepping down. He’ll remain on the board.
Got Milk? America’s largest milk producer is getting a new owner as Dary Farmers of America have signed a deal with Dean Foods for $425 million. Dean’s under bankruptcy, this co-op has a long road ahead. Also, falling U.S. demand for dairy leaves us curious to learn how they will create a greener pasture.
China’s changing up the way they diagnose coronavirus infections, throwing off global efforts to prevent further outbreak. There are now two categories of diagnosis: suspected and confirmed. It’s the first that has us questioning that persistent cough. Good news? The rate of infections seems to be slowing… though the medical community continues to speculate the validity of these updates.
Morgan Stanley’s set to buy discount brokerage E*Trade Financial Corp. for $13 billion. This marks the biggest purchase by a financial firm since the 2008 crisis. This is the latest in a slew of big firm deals to try to digitize their client experience. This one’s in our neck of the woods, so tell us what you think by sharing a comment below.
Also getting a tech boost? UBS. Their new CEO, Ralph Hamers, is known for his innovative methods towards artificial intelligence and digitization of established firms. But will his antics at home cost his loyalty?
The EU is telling big tech to start playing nicewith their little brothers and sisters. Meaning Amazon, Facebook, Google and Apple will have to start sharing their heeps of data with smaller actors in an effort to break down their clear monopolies.
Real estate platform Zillow saw a stock jump as shares soared 8% thanks to better-than-expected revenue growth. What’s going on with your favorite real estate porn site? Well, they are shifting into the buying and selling game. The company said they bought 1,787 homes in the fourth quarter and sold 1,902, leaving it with 2,707 homes in its inventory in 2019.
With Bay Area office prices are, for lack of a better word, shocking. But, that’s great news for emerging cities. Here’s a great review of what’s happening with big tech moving outside the BA.
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