|Bid||0.00 x 1300|
|Ask||0.00 x 1000|
|Day's range||34.56 - 34.92|
|52-week range||26.01 - 42.00|
|Beta (3Y monthly)||1.26|
|PE ratio (TTM)||15.48|
|Earnings date||27 Jan 2020 - 31 Jan 2020|
|Forward dividend & yield||0.56 (1.61%)|
|1y target est||40.20|
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
Google, Alibaba and other "Big Tech" companies could be forced to share data on financial services customers with banks and financial technology firms to prevent unfair competition. As Facebook's plan for its Libra "stablecoin" faces scrutiny, a global body of regulators from the world's main financial centres said that Big Tech's growing tentacles raised questions for financial stability, competition and data privacy. The Financial Stability Board (FSB) called in a report released on Sunday for "vigilant monitoring" of Big Tech's shift into financial services, which it said could crimp the ability of banks to generate capital through retained profits.
Although Black Friday 2019 witnesses a steep slump in offline shopping, it gains traction from a solid surge on the online platform. Given this scenario, we enumerate some winners and losers.
(Bloomberg) -- OYO Hotels, the SoftBank Group Corp.-backed startup that’s built up a large chain of branded hotels and vacation homes around the world, has elevated a key executive to the board to help it focus on profitability and quality control.Aditya Ghosh, who had served as OYO’s chief executive officer for India and South Asia, is stepping up to a board position and will be succeeded by Rohit Kapoor, the company’s current new real estate businesses chief. On the board of directors, Ghosh joins founder and group CEO Ritesh Agarwal, SoftBank Vision Fund Managing Partner Munish Varma and recent addition Betsy Atkins, an early investor in Yahoo and EBay Inc, among others.Before joining OYO a year ago, Ghosh headed up India’s leading budget airline Indigo. He is now set to focus on sustainability and the path to profitability, OYO said in a statement on Monday. Ghosh will oversee a wide portfolio of business areas, spanning safety and security, customer experience, corporate governance, revenue management and stakeholder communications. OYO has been growing at a rapid speed, but its reputation has been tarnished along the way by customer complaints about bad experiences and grievances about poor or unfair treatment from several of the over 20,000 hotel owners in its chain.Citing Ghosh’s strong business acumen and track record, OYO group CEO Agarwal said he is “the perfect choice for this larger and more strategic role, at a global level.” Ghosh said he would further build OYO as a global brand “by not just growing fast but growing right.”OYO, based in Gurgaon in the suburbs of India’s capital New Delhi, was founded six years ago by then-teenager Ritesh Agarwal. For India’s budget travelers, OYO’s promise of standardized and predictable quality stays was a breath of fresh air from a hotel-booking market that was rife with misleadingly pretty online photos that bore little resemblance to the decrepit rooms found upon arrival. The company’s staff help hotel owners upgrade everything from linen to bathroom fixtures to toiletries, with a bright red OYO sign acting as a seal of approval, encouraging travelers to book on its website. OYO takes a cut of roughly 20%.SoftBank’s Vision Fund has so far invested approximately $1.5 billion in OYO pushing its valuation to $10 billion. Other investors include Airbnb Inc., Sequoia Capital and Lightspeed Venture Partners. OYO is the first Indian startup to achieve global scale, growing quickly in major markets like China and the U.S.Earlier this year, Agarwal, now 26, announced that he was borrowing about $2 billion to buy back a 20% OYO stake from other investors, with help from financial institutions. SoftBank Group founder Masayoshi Son personally guaranteed the loans to Agarwal, according to one person familiar with the matter, and among the institutions funding the buyback was Japan’s Mizuho Financial Group Inc., other people familiar with the matter have said. Mizuho has declined to comment.To contact the reporter on this story: Saritha Rai in Bangalore at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cyber Monday is gradually gaining more attention from bargain hunters than Black Friday. These ETFs and stocks could be great picks in this regard.
(Bloomberg) -- Online marketplaces Amazon.com Inc. and EBay Inc. are entering the holiday shopping season fending off reports about products with high mercury levels being sold on their websites, yet more evidence that the convenience of online shopping carries product safety risks.Activist groups including the Sierra Club purchased 158 skin-lightening products from Amazon and EBay marketplaces in 12 countries -- including the U.S. -- and found 60% were contaminated by mercury.“One major problem is that none of the products list mercury as an ingredient on the label, so it is impossible for an individual to know the product could be deadly,” said Sonya Lunder, spokeswoman for the Sierra Club, which partnered with Zero Mercury Working Group and The Beautywell Project on the product tests.Many of the brands have already been identified by the U.S. Food and Drug Administration and other government agencies for mercury contamination, which should make it easy for marketplaces to keep the products off their sites, she said.An Amazon spokeswoman said the products are prohibited and “are no longer available.”“All Marketplace sellers must follow our selling guidelines and those who don’t will be subject to action, including potential removal of their account,” the spokeswoman said.The company said it uses tools to scan products on the site and block those suspected of violating its polities.EBay, in an emailed statement, said it is reviewing the report to make sure it is removing any contaminated products.“Consumers can shop EBay’s 1-plus-billion items with confidence, knowing we have key partnerships and processes in place with product manufacturers and regulators to ensure a safe shopping experience,” EBay said.Mercury is a frequent ingredient in a fast-growing market for skin-lightening creams and soaps. The market is estimated to be worth about $20 billion annually, which includes legitimate and safe products, counterfeits of those products, and the cheap soaps and creams that are most likely to contain mercury.“This is really just the tip of the iceberg of a much bigger problem,” said Janet Nudelman, director of the Campaign for Safe Cosmetics launched by Breast Cancer Prevention Partners. “The real problem is big companies like Amazon don’t have adequate processes in place to make sure the beauty products they are selling are safe, so watchdog groups have to police the site for them.”Online marketplaces, which connect buyers and sellers on digital platforms, can be havens for unsafe and counterfeit products. For that reason, government and advocacy groups often purchase products on the sites and test them.In May, Amazon agreed to tighten the quality control standards on its marketplace after an investigation by Washington’s attorney general determined Amazon had sold more than 15,000 products -- including children’s jewelry and school supplies -- containing illegal levels of the toxic metals lead and cadmium.(updated with quote in 11th paragraph)\--With assistance from Matt Day.To contact the reporter on this story: Spencer Soper in Seattle at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com -- More happy talk from China on trade, while Fed Chairman Jerome Powell sees the economy's glass as "more than half full" (so no more rate cuts for now). Elsewhere, eBay keeps up the flurry of M&A; activity and the UN takes a swipe at countries for failing to live up to their Paris Accord pledges. Here's what you need to know in financial markets on Tuesday, 26th November.
The dollar rose and global equity markets rallied on Monday, with the Nasdaq and S&P 500 hitting new highs as investors grew more hopeful the United States and China could soon sign an interim deal to end their trade war. Trade-sensitive miners in Europe and semiconductors on Wall Street climbing on reports suggesting the world's two largest economies were close to an initial trade deal. In the United States, Charles Schwab Corp agreed to buy TD Ameritrade Holding Corp in an all-stock deal valued at $26 billion while EBay Inc will sell ticketing unit StubHub to ticket reseller Viagogo Ltd for $4.05 billion in cash.
The S&P 500 and the Nasdaq indexes climbed to new record highs on Monday as signs indicated the United States and China were moving closer to a trade truce, while a host of merger deals also helped buoy sentiment. Gains on Monday were broad with only the defensive consumer staples and utilities S&P sectors in the red.
(Bloomberg) -- Europe Inc. has been on an acquisition tear, with luxury purveyor LVMH and drugmaker Novartis AG becoming the latest companies to seek growth through splashy purchases overseas.Buyers from the continent have announced $58 billion of takeovers globally this month, more than triple the same period last year, according to data compiled by Bloomberg. That makes it the busiest November since 2015. More than half the deal volume came from purchases of U.S. companies, compared with 37% from western European targets, the data show.LVMH announced Monday it will acquire Tiffany & Co. for $16.2 billion, expanding its presence in jewelry with the largest luxury-goods deal ever. The transaction came just hours after Novartis said it would buy Parsippany, New Jersey-based Medicines Co. for $9.7 billion to get its hands on a blockbuster cholesterol drug.Completing the European hat trick on Monday, Geneva-based ticket reseller Viagogo is buying rival StubHub from EBay Inc. for $4.05 billion in a play for a share of the U.S. market.“We are at a stage in the cycle where European corporates have strong balance sheets,” said Kyril Courboin, chief executive officer of JPMorgan Chase & Co.’s French business. “They increasingly use this firepower to make acquisitions in the U.S. market.”In a highly unstable global environment, the U.S. also offers a single market with massive scale, a supportive economy and a pro-business environment, Courboin said. Last week, France’s Cie de Saint-Gobain agreed to buy drywall maker Continental Building Products Inc. for $1.4 billion including debt to boost its presence in growing regions of the U.S.“Cash-rich companies are targeting global players in the U.S. as a key market for expansion,” said Luigi de Vecchi, chairman of Citigroup Inc.’s banking, capital markets and advisory business for Europe, the Middle East and Africa. “We shall continue to see more cross-border flows into the U.S.”Aroundtown SA reached a deal to acquire TLG Immobilien AG for 3.1 billion euros ($3.4 billion) in stock to create Germany’s biggest commercial landlord. Meanwhile, a bidding war is looming for Madrid bourse operator Bolas y Mercados Espanoles SA, after Switzerland’s SIX Group AG made a $3.1 billion offer and Euronext NV said it’s in talks for its own bid.The recent flurry of activity is helping overall deal volumes on the continent recover after they fell 33% in the first half of the year to the lowest level in six years. European M&A is now down 15% from the same period a year earlier to $783 billion, data compiled by Bloomberg show.More big deals are slated to come before year-end. Irish flavorings maker Kerry Group Plc is conducting due diligence on a potential takeover of DuPont de Nemours Inc.’s $25 billion nutrition unit, Bloomberg News has reported. Assicurazioni Generali SpA is also preparing to make a formal bid in December for most of MetLife Inc.’s European operations, people with knowledge of the matter have said.U.S. companies have also been active, with retail stockbroker Charles Schwab Corp. saying Monday it will buy rival TD Ameritrade Holding Corp. in a $26 billion transaction. That helped make this the busiest “Merger Monday” in nearly six months, with at least $71 billion of M&A transactions announced since Sunday. The last time it was this hectic at the start of a week was June 10, when companies announced $117 billion of acquisitions led by United Technologies Corp.’s purchase of Raytheon Co.(Adds StubHub acquisition in fourth paragraph, updates figures throughout.)\--With assistance from Ben Scent, Aaron Kirchfeld and Liana Baker.To contact the reporters on this story: Myriam Balezou in London at email@example.com;Dinesh Nair in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Ben Scent at email@example.com, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- EBay Inc. is selling its ticket marketplace StubHub to European rival Viagogo for $4.05 billion in cash, allowing the company to focus on its main retail site and address pressure from shareholder activists.Starboard Value and Elliott Management Corp., the New York-based hedge fund run by billionaire Paul Singer, earlier this year proposed a plan to improve EBay’s performance, including a sale of StubHub and the classifieds business. In March, the company agreed to add two directors to the board and pledged to launch a strategic review as part of the settlement with the hedge funds.EBay’s shares rose 1.2% to $35.53 at 12:23 p.m. Monday. They’re up about 29% this year, giving the San Jose, California-based company a market value of about $29 billion.The pressure for change led to Devin Wenig’s departure as EBay chief executive officer in September. Wenig was fired after he failed to grow the marketplace platform and clashed with the board about not wanting to sell the classifieds business, people familiar with the matter said at the time.Wenig took over EBay following its split with PayPal in 2015 and made bold promises of returning the marketplace to prominence. To compete against Amazon.com Inc., Wenig tried to freshen EBay’s image with younger shoppers, made the site easier to navigate and harnessed artificial intelligence to give EBay merchants real-time insights about what shoppers want and how much they’re willing to pay.But the results have been slow to appear and EBay has continued to watch Amazon grow at a much faster pace and gobble up more market share and customers.EBay bought StubHub in 2007 for $310 million as it sought to bolster its online marketplace for secondary sales of seats to concerts and sporting events. Today, it’s the largest resale ticket marketplace in the U.S., with about $1.1 billion in net transaction revenue in 2018, according to EBay filings. The unit accounted for about 11% of EBay’s total revenue in the third quarter.Eric Baker, Viagogo’s founder and chief executive officer, co-founded StubHub while in business school, but left before the business was sold. “It has long been my wish to unite the two companies,” he said. “I am so proud of how StubHub has grown over the years and excited about the possibilities for our shared future.”Viagogo said in a statement that it has raised capital for the deal from investors including Bessemer Venture Partners and Madrone Capital Partners.Combined, the companies will sell hundreds of thousands of tickets daily across more than 70 countries, according to the statement. The deal will give Viagogo its first exposure to the U.S. market. Geneva-based Viagogo was forced to make changes to its business after coming under fire from the U.K.’s Competition and Markets Authority for misleading customers. The CMA suspended court proceedings in September, saying the ticket re-seller had addressed concerns it was flouting laws designed to protect consumers.The deal is expected to close by the end of the first quarter of 2020, the companies said.Goldman Sachs advised EBay and JP Morgan Chase & Co advised Viagogo.(Updates EBay share price in third paragraph, adds other investors in deal in ninth paragraph)To contact the reporter on this story: Liana Baker in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Molly Schuetz, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ebay agrees to sell StubHub to Swiss ticket reseller Viagogo in $4bn deal. Critics worry ‘alarming’ deal will negatively impact fans as bots snap up tickets and mark up the prices by an average of 49%
(Bloomberg Opinion) -- It’s the time of year to give thanks, especially if you’re a mergers-and-acquisitions banker. In what marks the merger-est Monday of 2019, the stock market awoke to four large deals, while a fifth — potentially the biggest leveraged buyout of all time — still looms. The pre-Thanksgiving holiday dealmaking frenzy centers on U.S. targets that span numerous industries: Online brokerages Charles Schwab Corp. and TD Ameritrade Holdings Corp. agreed to combine in a $26 billion all-stock merger; luxury conglomerate LVMH Moet Hennessey Louis Vuitton SE is acquiring retailer Tiffany & Co. for about $18 billion; Novartis AG is buying Medicines Co., the developer of a cholesterol-lowering drug, for $7.7 billion; and EBay Inc. is selling its StubHub tickets business for about $4 billion to Viagogo Entertainment Inc. That’s as KKR & Co. has reportedly approached Walgreens Boots Alliance Inc. about taking the $54 billion pharmacy chain private.Nearly $2.7 trillion of deals were struck globally so far this year, as a merger wave now long in the tooth continues into 2020. The M&A market’s tenacity — in the face of a trade war with China, a spate of high-profile merger-related writedowns and deal duds and the possible impeachment of the leader of the free world — is pretty stunning. An index that measures CEO confidence, often looked to as an indicator of the M&A market, has slipped to levels not seen since 2016. But the S&P 500 index touched a new high on Monday, and Ebitda multiples remain elevated. Meanwhile, billions of dollars in banker fees have been generated even though dealmaking was already expected to slow. Those with the largest shares of the pie are Goldman Sachs Group Inc., JP Morgan Chase & Co. and Morgan Stanley. The feast will end sooner or later, but for now, the oven’s still hot. The question remains, though: Will investors later feel they got burned?To contact the author of this story: Tara Lachapelle at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
In January, activist investors Elliott Management Corp and Starboard Value had urged eBay to sell its ticket sales business and eBay Classifieds Group as part of a plan that could double the company's value. Elliott valued StubHub between $3.5 billion and $4.5 billion, while eBay Classifieds between $8 billion and $12 billion.
Nov.25 -- EBay Inc. is selling its ticket marketplace StubHub to European rival Viagogo for $4.05 billion in cash. Bloomberg's Liana Baker and Bloomberg Intelligence's Jitendra Waral discuss on "Bloomberg Technology."