Corona Capital: Peloton, New York City 11 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: Peloton is on a tear with earnings exceeding expectations but it may burn out soon; more than 150 business leaders write to Mayor Bill de Blasio over the Big Apple’s deteriorating conditions.
Corona Capital: Testing, Flights, Football 10 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. lab-testing group Quest announces speedy growth; IAG’s gloomy horizons have a silver lining; and NFL football comes charging back.
Corona Capital: Vaccine politics, Peloton 8 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: Pharma firms like Merck and Pfizer are putting long-term profit first by promising to wait for full approvals for Covid-19 treatments; Peloton cycles towards more profit by cutting the price of its high-cost bikes.
Corona Capital: Zooming through Covid 1 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: Zoom Video Communications, the ubiquitous video-calling outfit, reports another blowout quarter.
Corona Capital: Pools, Dell 28 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: Pool firm’s dive into public markets, Dell’s hardware resilience.
Corona Capital: Davos delay, Political TV ratings 26 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: The World Economic Forum’s annual winter meeting becomes a summer gathering; and in the U.S., the Democrats’ online spectacle leads TV ratings over the Republicans’ more traditional convention.
M&A bedbugs need not stop $17 bln hotel megadeal 20 Aug 2020 Sebastien Bazin, CEO of French group Accor is eyeing a tie-up with Holiday Inn owner InterContinental Hotels, Le Figaro says. A merger would bring savings and scale, but also challenges with governance and integration. The pandemic makes even tricky unions much more likely.
S&P checks in for long stay at Hotel Covid Gloom 19 Aug 2020 The rating agency cut the debt rating of Accor to junk. S&P puts more weight on its forecast of a slow post-pandemic recovery than on the French hotel group’s relatively strong balance sheet and encouraging recent trends. Such a cautious approach comes with its own risks.
Corona Capital: Junked cans 11 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: An aluminum company with a junk rating issues debt with a ridiculously low interest rate.
Corona Capital: U.S. Jobs, Drugs 7 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: More Americans went back to work in July, though it’s a slowdown from June and Washington is still dithering over job relief aid; and President Trump wants to bring pharmaceutical production back home.
Corona Capital: Expense accounts, Zoom’s new box 15 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Goldman Sachs’ earnings give an insight into pandemic-era client schmoozing, and virtual meeting facilitator Zoom tiptoes into the high-priced hardware market.
Corona Capital: Lockdown diets, Beating the Fed 14 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Covid-19 is prompting diets for both animal and human; and the Fed takes a hit on a garbage deal.
Corona Capital: Not so united 8 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: A potential round of cuts at United Airlines lays bare the pitfalls of the government being both savior and investor.
Corona Capital: Disney/“Hamilton”, U.S. housing 6 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: “Hamilton” reinvigorates Walt Disney’s digital-download challenge, and America’s stay-at-home rules may mean there’s pent-up demand for real estate and home improvement.
Casino deal epitomizes the house edge 30 Jun 2020 Houston billionaire Tilman Fertitta is using his blank-check company to buy his online-gaming business from his restaurants-to-river cruises outfit. The deal’s cheap compared to virus-inflated rival DraftKings’ valuation. But Fertitta’s inside knowledge gives him a winning hand.
Corona Capital: UK debt, Oaktree, KKR, Chanel 19 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: UK government borrowing surges past GDP; Howard Marks is sceptical about the stock market revival; KKR bets on cheap and local European holidays; Chanel takes a gloomier view than rivals on the luxury rebound.
Goldman uses virus to become a preferred tenant 19 Jun 2020 The Wall Street giant and hedge fund backers of hotel chain Travelodge are trying to slash their rent bill by over a third. Normally, landlords would only play ball if the tenant was at death’s door. Covid-19 is inverting that pecking order – to real estate owners’ detriment.
Caesars makes best of weakening hand 17 Jun 2020 The casino company agreed to be bought by Eldorado last year. Now its acquirer is issuing stock, which means Caesars will own less of the company than it otherwise would. That makes the deal a little less appealing. With some other deals crumbling, it’s a small price to pay.
Corona Capital: Frequent fliers, Folies Bergeres 15 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: United Airlines hocks its MileagePlus loyalty program for $5 bln from Goldman; Lagardere tries selling Parisian nightlife venues, including Les Folies Bergeres and Bataclan theatre at perhaps the worst time ever.
Stanley Ho made sure his house kept winning 26 May 2020 The Macau gambling doyen, who has died aged 98, once provided half the former colony’s tax revenue. His SJM empire weathered the handover of the territory to China, its emergence as a competitive Las Vegas-beating hub, and family feuds. Punters have proved resiliently profitable.