Tag Archives: coronavirus

Financial Daily Dose 2.25.2020 | Top Story: Markets Plummet as Fears of Coronavirus Epidemic Spread to Europe

BY: Michael D. Reif | February 25, 2020

Wall Street apparently got together and decided that Monday was the day to start paying attention to the coronavirus for real.  In the form of a massive selloff that left the Dow off more than 1000 points for its worst finish in nearly a year-and-a-half. Good to know – NYTimes and WSJ and Bloomberg and … Continue reading

Financial Daily Dose 2.21.2020 | Top Story: Morgan Stanley Pays $13 Billion to Acquire E-Trade

BY: Michael D. Reif | February 21, 2020

Morgan Stanley shook the financial world yesterday with the announcement that it’s planning to drop $13 billion on a deal to purchase online discount brokerage E-Trade—the “biggest takeover by a major American lender since the 2008 global financial crisis” – NYTimes and WSJ and Bloomberg Wells Fargo is expected to pay as much as $3 … Continue reading

Financial Daily Dose 2.19.2020 | Top Story: Arguments Begin Regarding Facebook’s 2010 Tax Bill

BY: Juvian Hernandez | February 19, 2020

On Tuesday, a U.S. federal tax court began hearing arguments regarding Facebook’s 2010 tax bill. The IRS valued Facebook at $13.8 billion, while Facebook reported only $6.5 billion. The final tally could potentially cost Zuck’s baby between $5-9 billion, depending on the ruling’s impact on future tax calculations and penalties. – Law 360 The U.S. District … Continue reading

Financial Daily Dose 2.18.2020 | Top Story: Apple Cuts Revenue Expectations and HSBC Axes Jobs as Coronavirus Infects Business Outlook

BY: Michael D. Reif | February 18, 2020

Apple announced that the coronavirus outbreak that’s brought Chinese manufacturing to a near-standstill and continues to spread around the world will affect its quarterly sales expectations.  The news makes Apple “one of the first companies to publicly disclose the extent of the chain effect from China and the virus on the business world” – NYTimes … Continue reading

Financial Daily Dose 2.12.2020 | Top Story: Big Tech Antitrust Update

BY: Juvian Hernandez | February 12, 2020

Big-Tech/Antitrust Update: the FTC has demanded information from Amazon.com Inc., Apple Inc., Facebook Inc., Microsoft Corp., and Alphabet Inc. regarding acquisitions of small firms over the past 10 years that may have been too small to trigger antitrust review. This analysis of Big Tech’s “kill zones” may lead to future changes in how the FTC … Continue reading

Financial Daily Dose 2.11.2020 | Top Story: DOJ Indicts Four from Chinese Army Over 2017 Equifax Cyberattack

BY: Michael D. Reif | February 11, 2020

The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million Americans.”  The indictment places the Equifax episode in a broader scheme by the Chinese army and intelligence services to steal data … Continue reading

Financial Daily Dose 2.10.2020 | Top Story: Volvo May go Public Via Merger With Owner’s Geely Automobile Holdings

BY: Michael D. Reif | February 10, 2020

Volvo’s owner, Li Shufu, is mulling over a move to combine the carmaker with his publicly traded Geely Automobile Holdings—a play that would take Volvo public and “unify the bulk of billionaire Li’s growing stable of automotive brands.” It would also “mark a creative way to list Volvo Cars, which delayed plans for an IPO … Continue reading

Financial Daily Dose 2.5.2020 | Top Story: Amazon Joins Trillion-Dollar Market Cap Club

BY: Michael D. Reif | February 5, 2020

Amazon closed out the trading day yesterday as an official member of the $1 trillion club for the first time. Because Jeff really needed a win, folks. The company joins Microsoft, Alphabet, and Apple in that rarified “four-comma club” – Bloomberg and MarketWatch NYSE owner Intercontinental Exchange has submitted a takeover offer for eBay Inc. … Continue reading

Financial Daily Dose 2.4.2020 | Top Story: Tesla Stock Hits New Highs on Reports From Battery Partners

BY: Michael D. Reif | February 4, 2020

It’s all coming up Elon these days for Tesla and its stock. “Positive developments” from the electric carmaker’s battery suppliers helped goose shares even higher, ending the day at $780/share—a nearly 20% gain since Friday – NYTimes and WSJ and Bloomberg and MarketWatch This week’s latest coronavirus epidemic-related economic fallout takes the form of OPEC … Continue reading

Financial Daily Dose 2.3.2020 | Top Story: Boeing’s 737 MAX Aircraft Face Continued Problems

BY: Juvian Hernandez | February 3, 2020

Boeing Co.’s 737 MAX aircraft face continued problems from “potentially hazardous wiring.” European regulators want the manufacturer to relocate some of the wiring to prevent “potential short circuit[s], which in a worst-case scenario could disrupt flight-control systems.” Officials at the Federal Aviation Administration have stated that relocating the wiring is not necessary. The FAA is … Continue reading