Pizza delivery chains are “better positioned” compared to other restaurant chains to navigate through the coronavirus pandemic, including Papa John’s Int’l, Inc. according to MKM Partners.
Brett Levy upgraded Papa John’s from Neutral to Buy with a price target lowered from $67 to $64.
The Papa John’s Thesis
Papa John’s is up 80% since bottoming on March 18 so the timing of the upgrade may appear to be “late to the game,” Levy wrote in the note. But there’s still upside from current levels after management provided “clear evidence” of same-store sales momentum in its Tuesday business update. This should give investors confidence that recent menu changes and initiatives are working.
From a financial point of view, Levy said recent momentum implies the head office is in a better place financially and structurally to support its franchisees if needed….CLICK for complete article
Macy’s announced today that it would lay off “the majority” of its 123,000 employees after it had closed all its Macy’s, Bloomingdale’s and Bluemercury stores on March 18. Even before the lockdowns, its headcount was already down 17% from four years ago, in line with the decline of its brick-and-mortar operations. It said these stores would “remain closed until we have clear line of sight on when it is safe to reopen.”
Whenever that may be. But “at least through May,” the furloughed employees who were already enrolled in its health benefits program “will continue to receive coverage with the company covering 100% of the premium.” And it said, “We expect to bring colleagues back on a staggered basis as business resumes.” That is, if business at these brick-and-mortar stores resumes…CLICK for complete article
“From a purely technical basis, the extreme downside extension, and potential selling exhaustion, has set the markets up for a fairly strong reflexive bounce. This is where fun with math comes in.
As shown in the chart below, after a 35% decline in the markets from the previous highs, a rally to the 38.2% Fibonacci retracement would encompass a 20% advance.
Such an advance will ‘lure’ investors back into the market, thinking the ‘bear market’ is over.”
So, is the bear market over?
Are the bulls now back in charge?
Honestly, no one knows for certain. However, there are 5-questions that “Market Bulls” need to answer if the current rally is to be sustained.
These questions are not entirely technical, but since “technical analysis” is simply the visualization of market psychology, how you answer the questions will ultimately be reflected by the price dynamics of the market.
Let’s get to work….CLICK for complete article
Two coronavirus vaccine candidates are in the clinics and 42 more are in preclinical studies, according to updated data provided by the World Health Organization on March 20.
Three biopharma companies issued updates Monday on their developmental efforts for vaccines to combat the deadly virus, which has so far killed more than 35,000 people and infected about 735,000 more, according to Johns Hopkins University.
IMV On Track For Summer Start
Canadian pharma Imv Inc which announced March 18 its intention to develop a DPX-based vaccine candidate for the new coronavirus, said it has initiated discussions with Health Canada to prepare for a clinical trial application…CLICK for complete article