Top 5 Stocks to Watch Out Today
CMA CGM: Container shipping group CMA CGM said shipping activity remained strong in the final quarter of 2020 after a rebound from initial coronavirus-related disruption boosted the French company’s third-quarter profits.
CMA CGM, the world’s fourth-largest container shipping line, said its EBITDA margin rose to 21.0% in the third quarter from 17.2% in the previous quarter and 13.3% in the year-earlier period.
Brisk shipping activity should allow CMA CGM to increase the EBITDA margin further in the final quarter, it said.
Like market leader Maersk, which this week raised its full-year earnings target, CMA CGM has pointed to strong shipments for e-commerce as the coronavirus pandemic shifts consumer demand online.
“During the fourth quarter, maritime activity is more sustained than during the third quarter due to the ongoing increase in volumes,” CMA CGM said.
Delta Air Lines (NYSEAL): Chief Executive Ed Bastian hinted at the possibility of purchasing Boeing (NYSE:BA) Co's 737 MAX, which was recently approved to fly again by U.S. regulators, in an interview to the Financial Times on Sunday.
Any Boeing 737 MAX order would be the first for Delta, which did not have the aircraft in its fleet when the plane was grounded in March 2019 following two fatal crashes.
"If there is an opportunity where we would feel comfortable acquiring the MAX we’d have no hesitation doing that," Bastian added.
CoStar Group, Inc.: One of the world’s largest providers of commercial real-estate information and analytics, has taken its first major step into the residential data business by agreeing to pay $250 million for Homesnap Inc.
Founded in 2012, Homesnap is a fast-growing company that provides residential real-estate brokers with apps and other technology for managing and analyzing their listings as well as the broader market. About 300,000 residential agents use it an average of 30 times a month.
Guitar Center Inc: The largest U.S. retailer of music instruments and equipment, filed for Chapter 11 bankruptcy on Saturday, as music lovers moved their shopping online during the coronavirus pandemic.
The retailer has negotiated to have a total of $375 million in debtor-in-possession financing from its existing lenders and intends to raise $335 million in new senior secured notes, the company said.
Earlier this month the company reached a restructuring agreement with key stakeholders that includes debt reduction by nearly $800 million and new equity investments of up to $165 million to recapitalize the company.
The company in a court filing said it has between $1 billion and $10 billion of both assets and liabilities.
Boeing Co (N:BA): The future of Boeing (NYSE:BA) Co's freshly approved 737 MAX is in the hands of nearly 700 workers toiling behind the gray doors of a three-bay hangar at a desert airport in Washington state.
Inside, over an endless 24-hour loop, 737 MAX planes are rolled in for maintenance, and upgrades of software and systems as mandated by the U.S. Federal Aviation Administration in this week's order lifting a flight ban imposed after two crashes, the airport's director said.
In front, workers in bright yellow vests inspect the roughly 240 jets stored in giant grids at Grant County International Airport in Moses Lake - more than half of an inventory worth about $16 billion, according to investment firm Jefferies (NYSE:JEF)