BuzzFeed Buys HuffPost; L Manufacturers Surges | Stock Market Information
Information on the tempo of the pandemic continues to be not so nice.
The Facilities for Illness Management and Prevention suggested People to not journey for Thanksgiving, and New York Metropolis quickly shut down its colleges as the share of constructive assessments within the metropolis superior past a 3% threshold.
These precautions come on the heels of greater than 170,000 new U.S. virus circumstances on Wednesday, the second-highest one-day tally ever. Hospitalizations additionally set a brand new report excessive.
You’d suppose this might be typically horrible for the stock market, however all three main U.S. indices completed increased on Thursday. Why?
One possible cause is a flicker of hope that Capitol Hill lawmakers may be coming collectively to attempt to cross one other stimulus invoice. Senate Minority Chief Chuck Schumer mentioned on Thursday that Senate Majority Chief Mitch McConnell had agreed to renew negotiations.
The Dow Jones Industrial Common rose 44 points, or almost 0.2%, to complete at 29,483 on Thursday.
L Manufacturers pops. L Manufacturers (ticker: LB), the proprietor of Victoria’s Secret and Bathtub & Physique Works, noticed shares soar 17.7% on Thursday as markets digested a killer quarterly earnings report that introduced a slew of analyst upgrades.
Yr-over-year comparable gross sales at Bathtub & Physique Works rose 56% within the third quarter, and analysts additionally suppose the Victoria’s Secret model strengthened considerably after what seems to be to be a profitable restructuring.
Wells Fargo (WFC) was one of many greater followers of the stock following the earnings announcement, boosting its price goal from $45 a share to $60 a share.
XNYS: LB | 4:00:00 PM
Information as of 4:00:00 PM on 11/19/2020
BuzzFeed to purchase HuffPost. Verizon Media, a subsidiary of Verizon Communications (VZ) and the proprietor of HuffPost, will develop into a minority proprietor of BuzzFeed as a part of the deal. The 2 websites will stay distinct from one another.
Each properties have been trying to develop readership and income as undifferentiated digital content material grows tougher and tougher to monetize. The businesses will syndicate items to one another’s websites and may more and more look to e-commerce to spice up their income. Advertisements will nonetheless characteristic prominently within the enterprise model.
U.S. house gross sales are crushing it. A distinguished gauge of the true property market surged increased in October, with existing-home gross sales rising 4.3% from September, reaching a seasonally adjusted annual charge of 6.85 million, the very best since February 2006 – virtually 15 years.
October’s present house gross sales have been up 26.6% yearly.
Low rates of interest mixed with restricted housing stock are serving to to spark the new market, which can also be seeing house costs themselves rise. The median existing-home price rose 15.5% in comparison with October 2019, smashing new information and rising to $313,000.
Market information on CNN.
Dow Jones – BuzzFeed Buys HuffPost; L Manufacturers Surges | Stock Market Information