"Equity valuations after hitting -1 SD in March 2020 have swung to +1 SD – a function of the sharp rise in stock prices, equally sharp drop in post COVID-19 earnings and time value (four months rolled forward). In our view, evidence of a slow but surely improving global economic environment, earnings beat in Q1FY21 so far and continued commitment by central banks for further QE while maintaining record low interest rates – have the potential to keep markets expensive in the near term," ICICI Securities said. … [Read more...] about As market valuations turn expensive, brokerages pick these 27 stocks
Google stock stock
Dubbed in 2016 by World Economic Forum chair Klaus Schwab as the “Fourth Industrial Revolution” - new technologies fusing physical, digital and biological worlds that impact all industries and economies - investment in related stocks has been largely driven by this kind of long-term vision rather than cyclical ebbs and flows. … [Read more...] about Column: Rare pause in tech appetite suggests some indigestion
But he stressed that credit ratings remained an important restraint on the lapping up of cheap credit because, outside the cash-rich tech sector that’s been lifted further by lockdowns, many companies entered the pandemic with historically high leverage. … [Read more...] about Column: Money for (almost) nothing for top firms surviving pandemic
With Swiss it is "extremely bad. They work with pretty bad tricks," says Kadelbach. In his estimation around 70%-80% of all those affected have not yet actively fought for their rights. "They are waiting and trust they will receive fair treatment for the reimbursements to which they are entitled. But in a month or two there could be a wave of angry citizens," fears the Flightright boss. Meanwhile, Manuel Kliese is vacationing in Germany with his family. … [Read more...] about Coronavirus crisis: Airlines make it difficult to get refunds for canceled flights
Because stocks with the biggest market values carry the most weight in the S&P 500, the movements of Big Tech matter much more than what airlines, cruise-ship operators or other still-struggling companies are doing. American Airlines is down more than 50% for 2020 so far, but its much smaller market value means it doesn't move the needle like Big Tech. It would take 280 American Airlines to have the heft of one Apple. … [Read more...] about How can Wall Street be so healthy when Main Street isn’t?
But a combination of the dramatic bounce since March - which has seen the Nasdaq climb more than 50% and FANG+TM gain more than 70%, and discomfort about valuation multiples of some firms to 20-30% above 3-year averages, has seen some investor angst about bubbles resurface. … [Read more...] about COLUMN-Rare pause in tech appetite suggests some indigestion: Mike Dolan