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Bill Ackman, founder and manager of the American hedge fund management company Pershing Square Capital Management, said that Starbucks, the largest coffee chain in the world, would be able to overcome the stagnation in the US market amid increased competition from fast-food chains and expensive coffee shops. He noted that Pershing Square was the holder of about 900 million dollars in Starbucks. Thanks to this statement, Starbucks shares rose by 5.5%, and at the close of the session amounted to 57 dollars 71 cents per share, an increase of 2.1%. Ackman predicts that Starbucks shares will more than double over the next 3 years.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
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