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(RTTNews) - The China stock market bounced higher again on Tuesday, one session after it had ended the two-day winning streak in which it had collected almost 15 points or 0.5 percent. The Shanghai Composite Index now rests just beneath the 2,985-point plateau and it's tipped to

China is ready for more fast-casual dining establishments. At least, that's what Shake Shack (NYSE: SHAK) is counting on; the company announced in a press release on Tuesday that it is expanding a partnership with a licensee in that country that will result in at least 15 new Sh

A page in Aurora Cannabis's (NYSE: ACB) history is turning. The company announced that co-founder and former CEO Terry Booth relinquished his seat on the board of directors effective this past Friday.

(RTTNews) - The Taiwan stock market rebounded on Tuesday, one day after it had snapped the seven-day winning streak in which it had accelerated more than 350 points or 3.1 percent. The Taiwan Stock Exchange now rests just above the 11,620-point plateau and it's predicted to see

Subscribers of Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) YouTube TV will have to reach a little deeper into their pockets if they want to keep watching the streaming video service. Effective on Tuesday, YouTube TV's "base plan" now costs $64.99 per month, up from the previous lev

The coronavirus’ impact spares no one. Nike (NKE) surprised Wall Street on Friday, when the sportwear giant took a beating by COVID-19 in its F4Q20 earnings report. The market reacted as the market does and sent shares down by 7.5% in the session.

In the quarter, the swish machine reported revenue of $6.31 billion, exhibiting a 38% year-over-year drop and missing the estimates by $950 million. GAAP EPS of -$0.51 missed by $0.54. The overall decline pressured gross profit margin, which came in at 37.3%, lower than the Street’s call for 43.4%.

Broken down by region, sales in the U.S. dropped by 46%, and in Europe by 44%. Only China came in positive, clocking a slight 1% uptick, with sales improving during the quarter.

It was impossible to avoid the coronavirus’ devastating effect across the globe. For eight weeks in F4Q, 90% of Nike stores were shut across North America, EMEA (Europe, the Middle East, and Africa) and APLA (Asia Pacific & Latin America). While digital demand pushed ahead, showing 79% year-over-year growth, it could not make up for the overall slump in retail sales.

90% of Nike stores have now reopened, and despite improving traffic, the numbers are still down year-over-year, prompting Nike to guide for lower F1H21 sales.

However, the crushing quarterly statement hasn’t dimmed Needham analyst Rick Patel’s enthusiasm for Nike. The analyst expects the footwear and apparel giant to bounce back “faster, leaner and stronger.”

Patel commented, “Covid-19 hurt Nike sales more than expected in F4Q20, and FY21 sales growth is planned to be muted. Despite headwinds that should continue through F1H21, we view NKE’s LT bull case remains intact: 1) Growth through direct channels is accelerating due to digital demand; 2) Greater China has already rebounded to positive growth and remains an attractive LT opportunity; 3) Innovative products and marketing are driving outperformance of women’s and kids, areas of strategic importance; and 4) data science is enabling better decision-making, benefiting sales and margins.”

Accordingly, Patel reiterated a Buy on NKE along with a $113 price target. Upside from current levels is 15%. (To watch Patel’s track record, click here)

Overall, sentiment remains extremely positive across the Street. 1 Sell and 4 Holds are up against 21 Buys, which coalesce to a Strong Buy consensus rating. There is 18% upside in the cards, should the average price target of $110.21 be met over the next 12 months. (See Nike stock-price forecast on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Brazilian antitrust watchdog Cade on Tuesday said it was revoking its previous decision suspending Facebook Inc's recently launched WhatsApp payments messaging service in partnership with card processor Cielo SA.

What happened Nearly everyone who's visited a U.S. airport has come across the services of Gogo (NASDAQ: GOGO). The company's specialty is in-flight, high speed internet services. On Tuesday, the stock gained some nice altitude after it published a new set of metrics. 

NEW YORK/LONDON/HONG KONG (Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.

(RTTNews) - NPC International Inc., one of the largest restaurant franchisees in the U.S., is reportedly planning to file for bankruptcy.

Tesla (TSLA) shares have put together an impressive run in 2020, to say the least. The market has reacted favorably to reports of strong demand for Model 3s in China, a strong Q1 report and a penchant for tech growth stocks. As a result, shares have skyrocketed by a massive 158% since the turn of the year.

Later this week, Tesla will announce 2Q20 delivery and production numbers and Wall Street will be keen to gauge the coronavirus’ impact on operations. Along with shuttered businesses around the world, Tesla’s sole US factory in Fremont, California, was shut down for much of the quarter.

Deutsche Bank analyst Emmanuel Rosner expects Tesla to hit 76,000 deliveries in Q2, of which 60,000 are Model 3s, 8,000 Models S+X and 8,000 Model Ys. Consensus expects Tesla to deliver 67,000 vehicles.

Breaking down Tesla’s main regions, the analyst estimates that in the US, Tesla will notch up 15,000 deliveries, down by 60% year-over-year, and an additional 10,000 in Europe (4,000 in the UK), and close to 30,000 in China, with South Korea and Canada making up the bulk of the rest.

The estimates indicate a drop from the prior quarter. In Q1, Tesla reported delivery of 88,400 vehicles, in what amounted to its best ever performance.

The weaker volumes are on Rosner’s mind when forecasting 2Q results. Rosner said, “We trim our 2Q revenue from $5.03bn to $4.97bn (also reflecting intra-quarter price cuts in the US) and lower auto GM from 13.9% to 13.5% (16.6% ex credit), leading to EPS of -$1.77 vs. prior -$1.66. This compares to consensus $4.8bn and -$1.61. For free cash flow, we expect a burn of about $500m mainly dragged down by A/P, largely unchanged from prior expectations.”

All in all, Rosner keeps a Hold rating on Tesla, yet nudges the price target up from $850 to $900. Therefore, Rosner expects shares to drop by 17% over the coming months. (To watch Rosner’s track record, click here)

Rosner's colleagues are reading from the same manual. Consensus rates Tesla a Hold, based on 7 buys, 9 Holds and 10 Sell ratings. However, sentiment on the Street is rather more bearish as the average price target comes in at $727.65, representing potential downside of 32% from current levels. (See Tesla stock analysis on TipRanks)

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

(RTTNews) - Akero Therapeutics, Inc. (AKRO) - Shares of the clinical-stage biotechnology company jumped over 50% in after hours on Tuesday. The company announced positive histological data across all efruxifermin dose groups in 16-week phase 2a BALANCED study in NASH patients.

(RTTNews) - The Canadian stock market closed on a firm note on Tuesday, led by gains in materials section after gold prices hit a near 9-year high.

In the latest trading session, AGNC Investment (AGNC) closed at $12.90, marking a -0.23% move from the previous day. This change lagged the S&P 500's 1.54% gain on the day. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.87%.

DexCom (DXCM) closed the most recent trading day at $405.40, moving +1.81% from the previous trading session. This change outpaced the S&P 500's 1.54% gain on the day. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.87%.

In the latest trading session, BP (BP) closed at $23.32, marking a -0.68% move from the previous day. This move lagged the S&P 500's daily gain of 1.54%. At the same time, the Dow added 0.85%, and the tech-heavy Nasdaq gained 1.87%.

In the latest trading session, Zynga (ZNGA) closed at $9.54, marking a -0.21% move from the previous day. This move lagged the S&P 500's daily gain of 1.54%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.87%.

In the latest trading session, JD.com, Inc. (JD) closed at $60.18, marking a +1.01% move from the previous day. This move lagged the S&P 500's daily gain of 1.54%. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.87%.

In the latest trading session, Caterpillar (CAT) closed at $126.50, marking a +1% move from the previous day. This change lagged the S&P 500's 1.54% gain on the day. Meanwhile, the Dow gained 0.85%, and the Nasdaq, a tech-heavy index, added 1.87%.