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Noticeable companies reporting earnings the week of 07/13/2020 – 07/17/2020
Delta – DAL – Before Market Open – https://ir.delta.com/home/default.aspx
Citigroup – C – Before Market Open – https://www.citigroup.com/citi/investor/pres.htm
JPMorgan Chase – JPM – Before Market Open – https://www.jpmorganchase.com/corporate/investor-relations/event-calendar.htm
Wells Fargo – WFC – TDB – https://www.wellsfargo.com/about/investor-relations
Goldman Sachs – GS – TBD – https://www.goldmansachs.com/investor-relations/
United Health Group – UNH – Before Market Open – https://www.unitedhealthgroup.com/investors.html
Abbott Labs – ABT – Before Market Open – https://www.abbott.com/investors.html
Bank of America – BAC – Before Market Open – http://investor.bankofamerica.com/investor-relations
Morgan Stanley – MS – Before Market Open – https://www.morganstanley.com/about-us-ir
Charles Schwab – SCHW – Before Market Open – https://www.aboutschwab.com/investor-relations
Netflix – NFLX – After Market Close – https://www.netflixinvestor.com/ir-overview/profile/default.aspx
Johnson & Johnson – JNJ – Before Market Open – http://www.investor.jnj.com/
Blackrock – BLK – Before Market Open – https://ir.blackrock.com/home/default.aspx
Multiple economic indicators suggest that the global economy began recovering in May, is gaining momentum and may return to pre-pandemic levels by year-end.
In the first months of 2020, as global COVID-19 cases were skyrocketing and businesses were shuttering, an economic outlook that called for a near-term recovery would have seemed far-fetched. Yet, as July begins, multiple indicators suggest that growth began to rebound in May and even gained momentum throughout June.
“The U.S. economy has already moved into expansion, which marks the shortest U.S. recession on record dating back to the 1920s.”
Ellen ZentnerChief U.S. Economist, Morgan Stanley Research
Click Here to view the full report: https://www.morganstanley.com/ideas/global-economy-midyear-outlook-2020
Week of 5/18/2020 – 5/22/2020
Baidu Inc (BIDU)- After Market Close – http://ir.baidu.com/investor-overview
Advance Auto Parts Inc – Before Market Open – https://ir.advanceautoparts.com/investors/overview/default.aspx
J C Penney Company Inc – Cancelled – https://ir.jcpenney.com/
Home Depot Inc (HD) – Before Market Open – https://ir.homedepot.com/
Kohls Corp (KSS) – Before Market Open – http://corporate.kohls.com/investors/events-and-presentations
NetEase Inc – After Market Close – http://ir.netease.com/company-overview
Analog Devices Inc – https://investor.analog.com/events
Target Corp (TGT) – Before Market Open – https://investors.target.com/investors
McKesson Corp – Before Market Open – https://investor.mckesson.com/events-and-presentations/default.aspx
Lowe’s Companies Inc (L) – Before Market Open – https://lowes.gcs-web.com/investor-overview
Progressive Corp – Before Market Open – https://investors.progressive.com/events/default.aspx
Expedia Group Inc (EXPE) – After Market Close – https://ir.expediagroup.com/events
Take-Two Interactive Software Inc (TTWO)- After Market Close – https://ir.take2games.com/investor-overview
L Brands Inc – After Market Close – http://investors.lb.com/investor-overview
Best Buy Co Inc (BBY) – Before Market Open – http://investors.bestbuy.com/investor-relations/overview/default.aspx
BJ’s Wholesale Club Holdings Inc – Before Market Open – https://investors.bjs.com/home/default.aspx
TJX Companies Inc – Before Market Open – https://investor.tjx.com/investors
NVIDIA Corp (NVDA) – After Market Close – https://investor.nvidia.com/home/default.aspx
Splunk Inc – After Market Close – https://investors.splunk.com/
Palo Alto Networks Inc (PANW) – After Market Close – https://investors.paloaltonetworks.com/investor-relations/overview/default.aspx
Ross Stores Inc – After Market Close – https://investors.rossstores.com/investor-overview
Intuit Inc – After Market Close – https://investors.intuit.com/events-and-presentations/default.aspx
Medtronic PLC – http://investorrelations.medtronic.com/investor-overview
Deere & Co – Before Market Open – https://investor.deere.com/home/
Foot Locker Inc – Before Market Open- https://investors.footlocker-inc.com/investor-relations
Pinduoduo Inc – Before Market Open – http://investor.pinduoduo.com/investor-relations
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With widespread office, school, and business closures, and global shelter-in-place orders, COVID-19 has upended many aspects of our everyday lives. Global X’s thematic research team looks at how long-standing habits and traditions have quickly changed amid this disruptive environment and what it may mean for certain industries and themes going forward, including Cloud Computing, E-commerce, Video Games & Esports, and Robotics & AI.
Targeting companies that may be poised to benefit from structural shifts in disruptive technology, people and demographics, and infrastructure development, the Thematic Growth family offers a range of exposures to emerging economic trends.
Disruptive Technology ETFS
We highlight noticeable earnings report for the week of 4/24/2020 – 5/01/2020
Diamond Offshore (Before Open)- http://investor.diamondoffshore.com/investor-overview
United Health Services (After Close) – http://ir.uhsinc.com/investor-overview
F5 Networks ( After Close) – https://investors.f5.com/home/default.aspx
3M Co. (Before Open) – https://investors.3m.com/ir-home/default.aspx
Alphabet Inc. (After Close) – https://abc.xyz/investor/
Southwest Airlines ( Before Open) – http://www.southwestairlinesinvestorrelations.com/
Merck & Co. (Before Open) – https://investors.merck.com/home/default.aspx
Starbucks (After Close) – https://investor.starbucks.com/ir-home/default.aspx
Pfizer (Before Open) – https://investors.pfizer.com/investors-overview/default.aspx
PepsiCo (Before Open) – https://investors.pepsico.com/investors/financial-information/quarterly-earnings/
Aflac Inc (After Close) – https://investors.aflac.com/home/default.aspx
Anthem Inc – https://ir.antheminc.com/investor-overview
American Tower (Before Open) – https://www.americantower.com/investor-relations/index.html
Yum Brands (Before Open) – https://investors.yum.com/corporateprofile/default.aspx
Boeing Co. ( Before Open) – https://investors.boeing.com/investors/overview/default.aspx
General Electric Co. (Before Open) – https://www.ge.com/investor-relations/
Churchill Downs (After Close) – http://ir.churchilldownsincorporated.com/investor-relations
Sherwin Williams (Before Open) – https://investors.sherwin-williams.com/home
Microsoft (After Close)- https://www.microsoft.com/en-us/investor
Caesars Entertainment – https://investor.caesars.com/investor-relations
Facebook (After Close) – https://investor.fb.com/home/default.aspx
Mastercard (Before Open) – https://investor.mastercard.com/investor-relations/default.aspx
Tesla Inc (After Close) – https://ir.tesla.com/investor-relations
Amazon.com (After Close) – https://ir.aboutamazon.com/overview/default.aspx
American Airlines (Before Open) – https://americanairlines.gcs-web.com/investor-relations
Apple (After Close) – https://investor.apple.com/investor-relations/default.aspx
United Airlines ( After Close ) – https://ir.united.com/investor-relations
Amgen ( After Close ) – http://investors.amgen.com/investor-overview
Dunkin’ Brands (Before Open) – http://investor.dunkinbrands.com/investor-relations
Six Flags Entertainment – https://investors.sixflags.com/
McDonalds (Before Open) – https://corporate.mcdonalds.com/corpmcd/investors-relations/company-profile.html
Southern Co. (Before Open) – https://investor.southerncompany.com/information-for-investors/overview/default.aspx
Cigna (Before Open) – https://www.cigna.com/about-us/investor-relations/
United States Steel – https://www.ussteel.com/investors
Kraft Heinz (Before Open)- http://ir.kraftheinzcompany.com/overview
Kellogg Co (Before Open) – https://investor.kelloggs.com/
Intercontinental Exchange (Before Open) – https://ir.theice.com/home/default.aspx
Twitter (Before Open) – https://investor.twitterinc.com/home/default.aspx
Visa (After Close) – https://investor.visa.com/
Gilead Sciences ( After Close) – http://investors.gilead.com/investor-overview
AbbVie Inc. (Before Open) – https://investors.abbvie.com/investor-overview
Chervron – (Before Open) – https://www.chevron.com/investors
Colagate – Palmolive (Before Open) – https://investor.colgatepalmolive.com/investor-relations
Clorox (Before Open) – https://investors.thecloroxcompany.com/investors/default.aspx
MoneyGram (Before Open) – http://ir.moneygram.com/investor-relations
DISH Network (Before Open) – https://ir.dish.com/investor-relations
Morgan Stanley’s thoughts on the US governments response to Coronavirus. Additional Fiscal Stimulus, Debt to GDP and the Election Year.
Market Update: Oil Prices Drop to Record Lows
Sarah Kiernan of Goldman Sachs’ Global Markets Division gives her quick take on the latest market volatility, including investors’ reactions to record-low oil prices.
Top 3 Energy / Oil ETFs based on AUM.
(SUMMARY WITH RESPECT TO A FEW ITEMS)
Assistance to American Workers and Families:
2020 Recovery Rebates
· Approximately $250 billion in “recovery rebates” for qualifying taxpayers in the following manner:
o For individuals making less than $75k – a direct payment of $1,200 (phases out at $99k).
o For couples making less than $150k – a direct payment of $2,400 (phases out at $199k).
§ Also entitled to $500 per eligible child.
o Must provide Social Security Numbers (SSN) for each family member claiming a rebate.
o Rebates fully available to residents of U.S. Territories, including Puerto Rico.
o Rebates to be paid out as advance refunds (in the form of checks or direct deposit) on the basis of taxpayers’ 2019 returns (or tax year 2018, if a 2019 return has not yet been filed).
· $250 billion in unemployment insurance funding for variety of unemployment benefits as follows:
o Creates a temporary Pandemic Unemployment Assistance program through 12/31/2020 to provide payments to individuals not traditionally eligible for unemployment benefits (self-employed, including gig workers and independent contractors, etc.). Would be state administered but federal funded.
o Provides an additional $600 per week to each recipient of unemployment insurance or Pandemic Unemployment Assistance – for up to 4 months.
o Provides funding – through 12/31/2020 – to pay the cost of the first week of unemployment benefits for states that choose to pay recipients as soon as they become unemployed.
o Provides an additional 13 weeks of unemployment benefits through 12/31/2020 to assist those for whom state unemployment benefits may have ended – including recipients of Pandemic Unemployment Assistance.
Short-time Compensation Programs
· Provides funding to support existing state “short-time compensation” programs (where employers reduce employee hours instead of resorting to layoffs).
o Employees with reduced hours would receive a pro-rata unemployment benefit and funding through this provision would reimburse 100% of the costs incurred through 12/31/2020.
· Also provides funding for states that enter into agreements with the Department of Labor to enact a “short-time compensation” plan, and would reimburse 50% of the costs that a state incurs under the plan through 12/31/2020.
· Creates a $100 million grant program to be provided to states for the purpose of implementing or improving a short-time compensation program.
· Waives the 10% early withdrawal penalty for distributions up to $100k from qualified retirement accounts for Coronavirus-related purposes made on or after 1/1/2020.
o Income attributable to such distributions subject to tax over 3 years.
o Taxpayer may recontribute the funds to an eligible retirement plan within 3 years without regard to that year’s cap on contributions.
o A Coronavirus-related distribution is one that is made to an individual:
§ Who is diagnosed with COVID-19;
§ Whose spouse or dependent is diagnosed with COVID-19, or
§ Who experiences adverse financial consequences due to quarantine, furlough, layoff, reduced work hours, childcare issues, business closure or reduced business hours of business owned or operated by the individual (and any other as determined by Treasury).
· Provides flexibility for loans from certain retirement plans for Coronavirus-related relief.
· Temporary RMD Waiver – RMDs for 2020 are waived for 2020 for all types of DC plans (including 401(k), 403(b), and governmental 457(b) plans) and IRAs. This also applies to RMDs due in 2020, but attributable to 2019.
· Allows for a partial above-the-line deduction of up to $300 of cash contributions for individuals whether they itemize or not.
· Increases the limitation on deductions for charitable contributions for individuals and corporations:
o For individuals – the 50% of AGI limitation is suspended for 2020.
o For corporations – the 10% limitation is increased to 25% of taxable income.
o Also increases the limitation on deductions for contributions of food inventory to 25%.
Employer Payment of Student Loans
· Allows employers to provide a student loan repayment benefit to employees on a tax-free basis.
o Allows annual contributions of up to $5,250 from the employer towards an employee’s student loans – with the payments excluded from the employee’s income.
Credit Protection During COVID-19
· Requires furnishers to credit reporting agencies, who agree to account forbearance or modified payments with respect to an obligation/account of a consumer impacted by COVID-19, to report such obligations as “current” or as the status reported prior to the account forbearance or modification.
· Applies to accounts for which the consumer has fulfilled requirements pursuant to the forbearance or modified payment agreement.
· Such credit protection is available beginning January 31, 2020 and ends at the later of 120 days after enactment or 120 days after the date the national emergency declaration related to the Coronavirus is terminated.
Foreclosure Moratorium and Consumer Right to Request Forbearance
· Allows a borrower with Federally-backed mortgage loan who is experiencing a financial hardship due, directly or indirectly, to the COVID-19 emergency – to request a forbearance of that mortgage loan – regardless of delinquency status.
o Initial forbearance period shall be granted for up to 180 days and can be extended for an additional 180 days at borrower’s request (the initial and extended periods can also be shortened at the borrowers request).
· During forbearance period – no fees, penalties, or interest (beyond the amounts scheduled or calculated as if the borrower made all payments on time and in full) are allowed.
· Only documentation required is the borrower’s attestation to a COVID-19 financial hardship.
· With exception for vacant or abandoned property – a servicer of a Federally-backed mortgage loan may not initiate any judicial or non-judicial foreclosure process, or move for a foreclosure judgment or order of sale, or execute a foreclosure-related eviction or foreclosure sale for not less than the 60 day period beginning on 3/18/2020.
Forbearance of Residential Mortgage Loan Payments for Multifamily Properties with Federally-backed Loans
· Allows multifamily property borrower with Federally-backed multifamily mortgage loan that was current as of 2/1/2020 to submit an oral or written request for forbearance to its servicer:
o Must affirm that the borrower is experiencing a financial hardship due to COVID-19.
o Forbearance period – initial forbearance period is for 30 days, but can be extended for up to 2 additional 30 day periods (so long as requested at least 15 days prior to end of forbearance period).
· For renters:
o May not be evicted during the forbearance period (nor may an eviction be initiated) for non-payment of rent – nor may any late fees, penalties or other charges be assessed.
o Limitations on notices to vacate.
Temporary Moratorium on Eviction Filings
· During 120-day period beginning on date of enactment, the lessor of covered dwelling may not initiate a legal action to recover possession of the covered dwelling from the tenant for nonpayment of rent.
o Covered dwelling is one that is occupied by a tenant per a residential lease, or without a lease or with a lease that is terminable under State law – and includes houses.
· Lessors also may not issue a notice to vacate a covered dwelling until after the expiration of the 120-day period.
· Look to definitions regarding covered dwellings and covered property – for applicability of provision.
Student Loan Payment
· Provides for the Secretary of Education to suspend all payments due for federal student loan borrowers with federally-held loans (Direct and FFEL loans that are held by U.S. Dept. of Education).
o No payments required on the loan through September 30, 2020 on outstanding principal or interest.
o Interest will not accrue on such loans during this period.
o Prohibits collection efforts during suspension period, and protects from negative credit reporting.
o Requires notice to borrowers (starting in August) of the resumption of their loan payment obligation.