SPG attempts to buy J.C. Penney and ABG raises $600 million to acquire distressed retail brands, while SPG and ABG’s JV called SPARC Group makes moves to win bids on bankrupt retail assets, including Brook Brothers and Lucky Brand. [more]
According to Gartner, the global public cloud services market is expected to reach US$$266 billion in 2020, a 17% increase year-over-year, led by segments Software as a Service (“SaaS”) and Infrastructure as a Service (“IaaS”), which are expected to grow to US$$116 billion and US$$50 billion, respectively. [more]
Berkshire exits positions in banks, financial firms, and airlines, while entering a position in Barrick Gold; Paulson & Co. exits positions in Allergen , Spring Corp, and Tech Data; and Pershing Square exits positions in Berkshire Hathaway, Blackstone / GSO Credit Fund, and Park Hotels & Resorts. [more]
This past quarter, Canadian cannabis companies focused on consolidating operations, adjusting asset valuations, and launching Cannabis 2.0 derivative products. While in the U.S., cannabis companies increased production capacity and scaled retail stores in order to be ready when federal legalization of cannabis becomes a reality. [more]
In Canada, e-scooter companies Bird, Lime, and Roll launched the first e-scooter pilot in Ontario. However, the micro-mobility industry experienced a major complication as three deaths were reported in the U.S. on mopeds serviced by Revel Transit. [more]
The commercial real-estate market was significantly impacted by the COVID-19 pandemic, leaving retail businesses and tenants unable to pay rent as sales dried up. As tenants vacate stores, the U.S. outdoor shopping center market net absorption reached a record low of negative 7.7 million square feet. [more]
Since launching their IPOs last week, Rocket Companies and BigCommerce experienced an increase in stock price of 22% and 219%, respectively. However, Rackspace struggled as its stock price dropped by over 20% since its IPO. [more]
Last week, Zynga reported Q2/2020 earnings with record revenues and bookings, as the mobile game company fueled growth through focusing on its portfolio of live services games and acquiring other high-growth franchises. [more]
This week, franchise restaurants Dunkin’ Brands, McDonald’s, Restaurant Brands International, and Starbucks, reported Q2/2020 earnings. Most franchises experienced double-digit revenue decreases. Dunkin’ Brands expects to close ~800 stores; Starbucks plans to close 400 locations. [more]
Last week, Alphabet, Amazon, Apple, Facebook, and Microsoft, reported better-than-expected quarterly earnings, as most of these big tech companies strongly outperformed against the broader market during the COVID-19 pandemic. With large cash balance and solid cash flows, these Tech Giants are poised to seize opportunities in this unsettled market. [more]
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