- A + A (Jan 17): Analysts are denouncing Unilever Plc’s 50 billion pound (US$68 billion) offer for GlaxoSmithKline Plc’s consumer health business in unusually strong words. In a barrage of Monday morning notes, analysts criticized Unilever for pursuing the deal, saying it doesn’t make sense and would come at an eye-watering valuation. Consumer health isn’t a high-growth industry and Unilever has a bad track record for big deals, said Bruno Monteyne at Bernstein. “We can’t imagine many things that would unnerve us more about Unilever than acquiring GSK consumer health,” wrote James Edwardes Jones at RBC Capital Markets in a note titled “Please Don’t.” Unilever has no overlap with two-thirds of Glaxo’s consumer health business and little experience in regulatory issues for medical and clinical products, said Edwardes Jones at RBC. “We had been considering whether the time was ripe to abandon our underperform rating,” he added. “We’re not any more.” Investors … [Read more...] about ‘Please don’t:’ analysts scorn Unilever’s takeover ambitions
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Share prices of Rivian Automotive ( NASDAQ:RIVN ) briefly fell to $75.13 per share on Friday before closing the session at $79.95 per share. It was the first time Rivian stock dipped below its initial public offering (IPO) price of $78 per share. The sell-off marks over a 55% drawdown from the stock's all-time intraday high of $179.47 per share set on Nov. 16, 2021. Here are arguments for and against buying the electric vehicle (EV) stock now. Image source: Rivian Automotive. Take advantage of inefficient markets Howard Smith : Markets aren't always efficient, and that's how investors can gain an advantage. While Rivian shares have dropped recently in concert with many high-growth tech names, one of the biggest dips came with the news that Amazon ( NASDAQ:AMZN ) was starting a partnership with Chrysler parent Stellantis ( NYSE:STLA ) to supplement its supply of electric delivery vans. Prior to this news, investors only knew that Amazon -- an early … [Read more...] about Rivian Stock Just Fell Below its IPO Price of $78 Per Share: Time to Buy?
New York (CNN Business) The stock market is like that old slogan for Timex watches. It takes a licking but keeps on ticking. Sure, it's been a rocky start to the year on Wall Street following a stellar 2021. The Dow is down about 1% and the S&P 500 has fallen 2%. Trading has been volatile. But the Dow and S&P are still each just 3% below their all-time highs. Tech stocks have had a bit more of a wild ride. The Nasdaq is down 5% in 2022 and nearly 8% under its peak, putting it closer to a 10% drop known as a correction. Yet every time it looks like stocks could be heading for an even steeper drop, investors come rushing back in to buy the dips. Traders have so far mostly shrugged off temporary concerns about inflation and the Federal Reserve getting ready to raise interest rates , as well as fears over the impact that the Omicron variant of Covid-19 may have on the economy. Earnings growth has remained strong in spite of these … [Read more...] about Here’s what could rattle the stock market this year
Hiring demand across industries jumped 12 percent year-on-year in December 2021, indicating optimism in the economic recovery cycle, the Monster Employment Index released on January 17 shows. The index, which analyses online job postings on the Monster India portal as well as other databases, found that the hiring demand was higher in 22 of the monitored 27 industries compared to December 2020. In terms of segments, roles in office equipment and automation continued to see the greatest demand, with posting for these jobs up 86 percent year-on-year in December 2021. "Hiring numbers from the close of 2021 have certainly brought about a strong sense of hope and recovery across sectors," Monster.com Chief Executive Officer Sekhar Garisa said. "However, we remain cautiously optimistic on the growth of the Indian recruitment space in 2022, keeping in mind the possible impact of Omicron on the job market." Close India has in recent weeks has seen a spike in daily … [Read more...] about Optimism on jobs front, hiring demand rises 12% in December 2021
Paris Cognac sales surged by nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drink makers are putting the pandemic behind them. Sales of the brandy, produced in the Cognac region of France, rose by almost 31% in value to 3.6 billion euros ($4.1 billion), industry group BNIC said Monday. Volumes were up 16% to 223.2 million bottles. High-end Champagne shortage could ruin your New Year's Eve "This growth reflects a real recovery of cognac, as well as new consumption habits," BNIC said in a statement, noting sales had also risen compared with 2019, before the pandemic struck. The outlook should remain positive in the coming months for all destinations, BNIC added. Read More The news comes after France's champagne industry said last month it expected record sales in 2021, and follows strong results from several spirits companies. Cognac sales to its largest … [Read more...] about Cognac sales jump 31%, thanks to the US and China
Share to Twitter Share to Linkedin Bitcoin and cryptocurrencies have had a dreadful start to 2022, continuing the downward trend from the end of last year as price pressures mount . Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and discover hot new NFT and crypto blockbusters poised for 1,000% gains' The bitcoin price has lost around 40% since peaking in November, down from almost $70,000 per bitcoin to lows this week of $41,000. Meanwhile, ethereum and other major coins have also crashed back, wiping around $1 trillion in value from the crypto market since its November high . Now, Wall Street giant Goldman Sachs GS , has predicted bitcoin will increasingly compete with gold as a "store of value"—and could hit $100,000 within five years. Sign up now for the free CryptoCodex —A daily newsletter for the crypto-curious. Helping you understand the world of bitcoin and crypto, every weekday MORE FROM FORBES Crypto's … [Read more...] about $1 Trillion Crypto Crash: Goldman Sachs Reveals Huge Bitcoin Price Prediction After Ethereum Bet
Share to Twitter Share to Linkedin Frankfurt, January 12, 2022 - Last year, the market capitalization of cryptocurrencies reached $3 trillion USD for the first time. At the beginning of the 2021, it was less than $800 billion USD. DeFi now has a total value locked (TVL) of $100 billion USD on Ethereum alone. But NFTs have been the most surprising, flanked by complementary areas like metaverse and GameFi. Who can claim to have foreseen these developments? Looking into the future is notoriously difficult. Nevertheless, we dare to make predictions for the year 2022. It will be exciting to see whether they come true. 1. Bitcoin price reaches $100,000 USD and the crypto asset market grows in breadth and depth Rising inflation rates make scarce assets like Bitcoins (BTCs) increasingly attractive. Bitcoin is not only the oldest, most decentralized, and best-known cryptocurrency - a distinctive feature compared to other cryptocurrencies is its limited supply of 21 … [Read more...] about 10 Predictions For Blockchain, Crypto Assets, DeFi, And NFTs For 2022