Date: Friday, February 28th, 2020
Source: Barron’s (https://www.barrons.com)
Summary: Also, Wall Street analysts’ opinions of Etsy, JPMorgan Chase, Acadia Pharmaceuticals, and Wells Fargo.
Full article address: https://on.barrons.com/2T7gyJi
$GS $DB $JPM: The shape of the eventual economic recovery is uncertain, but it’s likely to be slower and shallower. And the timing will dictated by the coronavirus itself despite the strenuous exertions of fiscal and monetary policies.
$JPM $WFC $BAC: Vivek Juneja, analyst at JPMorgan Chase estimates that Wells Fargo has 12.6% of mortgage servicing market share. Ginnie Mae announced it was launching a program to help mortgage servicers avoid a cash crunch as borrowers miss payments.
$DJIA $SPX $COMP $OXY $XOM: Stocks are bouncing back after a brutal start to the second quarter. Benchmark oil prices are up almost 10%, in part on hopes for an end to the Saudi-Russian market-share war.
$ICAGY $DLAKY $ESYJY: British Airways is set to suspend 36,000 staff — 80% of its global workforce — following German carrier Lufthansa, as European airlines bid to save cash in the fight for survival amid the coronavirus pandemic.