Day: April 13, 2020

Caterpillar, Dunkin’ Brands, Amazon, Disney & more

wayne April 13, 2020

Take a look at some of the biggest movers in the premarket:

Caterpillar (CAT) – The heavy equipment maker’s stock was downgraded to “underperform” from “neutral” at Bank of America Securities, which points to a severe capital spending downturn in key Caterpillar markets.

Dunkin’ Brands (DNKN) – Credit Suisse gave the restaurant chain’s stock a double-upgrade to “outperform” from “underperform,” noting both valuation and the company’s 100% franchised business model. The firm said that model is one of the most attractive in the restaurant industry and warrants a premium to its peers.

Palo Alto Networks (PANW) – The cybersecurity firm was upgraded to “buy” from “hold” at Rosenblatt Securities, which said Palo Alto is benefitting from the current work-at-home trend.

Amazon.com (AMZN) – Amazon stopped accepting new online grocery customers amid surging demand, and is now putting new applicants on a waiting list. It has also cut back shopping hours at some Whole Foods locations to prioritize online orders from existing customers.

Walt Disney (DIS) – Disney is furloughing 43,000 workers at its Walt Disney World resort in Florida, while allowing them to keep their benefits for up to a year. Walt Disney World closed in mid-March due to the

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Jamie Siminoff Didn’t Let His ‘Shark Tank’ Failure Stop Him From Building a Billion-Dollar Business With a Big Mission

wayne April 13, 2020

Here’s why he thinks success is a little bit like playing the lottery.


2 min read

Opinions expressed by Entrepreneur contributors are their own.


Ring founder Jamie Siminoff’s very public failure eventually landed his company a $1 billion sale to Amazon.

A lifelong inventor, Siminoff often tinkered with new ideas in his garage. Frustrated by his inability to hear the doorbell while working, he wondered if there was a way to connect it to his phone.

Sensing that he had stumbled onto something big, Siminoff began building a Wi-Fi-connected doorbell that would use video surveillance to screen visitors. His goal was to make homes safer and rid neighborhoods of crime.

Hoping to take his budding business to the next level, Siminoff landed an appearance on Shark Tank. With his bank accounts drained, he laid it all on the line for a shot with the Sharks.

But when the day finally came, he went home without an offer.

“Driving home from Shark Tank without the money, as much as I was almost in tears in the car, still dead broke … I only had one thing to do the next day,” Siminoff says. “[I had] to try

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Goldman Sachs says U.S. stock prices have probably hit bottom already

wayne April 13, 2020

U.S. stocks are unlikely to make fresh lows thanks to the “do whatever it takes” approach of policy makers, according to Goldman Sachs Group Inc.

A combination of unprecedented policy support and a flattening viral curve has “dramatically” cut risks to both markets and the American economy, strategists including David Kostin wrote in a note Monday. If the U.S. doesn’t have a second surge in infections after the economy reopens, equity markets are unlikely to make new lows, they said.

“The Fed and Congress have precluded the prospect of a complete economic collapse,” the strategists wrote. “These policy actions mean our previous near-term downside of 2,000 is no longer likely” for the S&P 500 Index.

The U.S. benchmark closed Thursday around the 2,790 level, having hit a three-year low of 2,237 on March 23.

Goldman cited policy measures including rate cuts, the Federal Reserve’s Commercial Paper Funding Facility and fiscal stimulus such as the $2 trillion CARES act among the “numerous and increasingly powerful” actions that have spurred equity investors to take a risk-on view.

Meanwhile, the strategists expect investors to look through first-quarter results from the upcoming earnings season, and focus instead on the outlook for 2021, according to …

U.S. economy could begin ‘rolling reentry’ from coronavirus in May, says Fauci

wayne April 13, 2020

New cases of the coronavirus are certain to arise when restrictions imposed to limit the spread of the virus are eased, said Dr. Anthony Fauci, the top infectious disease expert for the U.S.

But Fauci said Sunday that the economy in parts of the country could have a “rolling reentry” as early as next month, provided health authorities can quickly identify and isolate people who will inevitably be infected. Fauci also said he “can’t guarantee” that it will be safe for Americans to vote in person on Election Day, Nov. 3.

When asked on CNN if earlier action on social distancing and “stay at home” policies could have saved lives, Fauci responded in part: “It’s very difficult to go back and say that. I mean, obviously, you could logically say that if you had a process that was ongoing and you started mitigation earlier, you could have saved lives. Obviously, no one is going to deny that. But what goes into those kinds of decisions is complicated.”

President Donald Trump, who has been chafing at criticism that he didn’t do enough early on to fight the virus, later reposted a tweet that referenced Fauci’s comments and that said …