In a financial environment riddled with unprecendented levels of uncertainty, investors are at wits’ end. When it comes to finding an investment strategy that will yield returns, traditional methods might not be as dependable. So, how should investors get out of the rut? In times like these, a more comprehensive stock analysis can steer investors in the direction of returns. Rather than looking solely at more conventional factors like fundamental or technical analyses, other metrics can play a key role in determining whether or not a particular stock is on a clear path forward. TipRanks offers a tool that does exactly that. Its Smart Score measures eight key metrics including fundamentals and technicals while also taking into account analyst, blogger and news sentiment as well as hedge fund and corporate insider activity. After analyzing each metric, a single numerical score is generated, with 10 being the best possible result. Using the Best Stocks to Buy tool, we were able to pour through TipRanks’ database, filtering the results to show only the names that have earned a “Perfect 10” Smart Score. We found seven that managed to tick all of the boxes. Let’s jump right in. Limelight Networks, Inc. (LLNW) Limelight Networks is best known for being a content delivery network (CDN) service provider, with its solutions enabling organizations to deliver digital assets that are fast, reliable and secure. With the growth story set to get even better, it’s no wonder LLNW has scored fans out on the Street. Among the bulls is Northland Capital analyst Michael Latimore. After hosting a call with the company’s management team, he told clients that he walked away even more positive on the stock. “LLNW is a company with improving growth rates, expanding margins, and top tier customers; and getting a little help via work-from-home. We believe management remains confident in growth patterns, especially given new customers coming on board, and a healthy additional tailwind via work-from-home,” the analyst commented. To support his bullish thesis, Latimore highlights the fact that going forward into Q2 and Q3, new customer launches should drive significant sequential growth, more so in full year 2021 than full year 2020. Online gaming updates as well as new sports content could also help propel the stock forward. Latimore added, “Traffic related to work-from-home peaked at the end of March, but LLNW is managing more traffic than ever on a daily basis… LLNW has perfected its platform for OTT video and is in every conversation among new meaningful OTT video and live event providers.” As its top 20 customers, which account for 77% of revenue, are financially sound, the deal is sealed for Latimore. To this end, the five-star analyst left an Outperform rating and $8 price target on LLNW, implying 51% upside potential. (To watch Latimore’s track record, click here)Do other analysts agree with Latimore? As it turns out, they do. With 100% Street support, or 4 Buy ratings to be exact, the message is clear: LLNW is a Strong Buy. At $7.50, the average price target is less aggressive than Latimore’s, but still suggests 41% upside potential. See the LLNW stock analysis. Krystal Biotech, Inc. (KRYS) Using its STAR-D platform, Krystal Biotech develops and commercializes innovative therapies that target various dermatologic conditions. On the heels of its recent data release, some Wall Street pros believe that now is the time to snap up shares. During the American Society of Gene & Cell Therapy (ASGCT) virtual meeting, the company presented positive in vitro preclinical data for replication-defective HSV-1-based gene therapy (GT), KB407, in cystic fibrosis (CF), the most common inherited genetic disorder in the U.S. Based on the update, the asset was able to infect small airway epithelial cells (SAECs) and generate a robust expression of functional, full-length human CFTR protein that properly traffics to the cell membrane. Commenting on this result for Chardon Capital, five-star analyst Gbola Amusa stated, “This result suggests KB407 has overcome the issues of limited-capacity GT vectors not infecting the appropriate cells of the lungs.” He also pointed out that KB407 went head-to-head with Orkambi (G418) in relevant mutations, but also worked broadly on functional correction of the cystic phenotype of organoids. Amusa added, “We thus see the KB407 in vitro data as a good start en route to Krystal testing KB407 for other issues that have held back GTs for CF, namely: (1) redosing (B-VEC data suggest Krystal's vectors can be re-dosed), and (2) delivery (upcoming mouse nebulizer data will shed light).” It should be noted that Vertex Pharmaceuticals is already well positioned within the space, but Amusa argues that a therapy for the 10% of CF patients with class I mutations, which cause the most severe phenotypes, still isn’t available, leaving the door wide open for KRYS. Based on all of the above, Amusa calls the stock a Top Pick for 2020. Along with a Buy rating, the $100 price target remains unchanged. This target puts the upside potential at 89%. (To watch Amusa’s track record, click here) What does the rest of the Street think about Krystal Biotech’s long-term growth prospects? It turns out that other analysts also have high hopes. Only Buy ratings, 6, in fact, have been received in the last three months, so the consensus rating is a Strong Buy. In addition, the $81 average price target indicates 53% upside potential. See the KRYS stock analysis. Celsius Holdings, Inc. (CELH) Celsius Holdings offers a portfolio of fitness drinks under the flagship CELSIUS brand that provide healthy energy while accelerating the metabolism and burning body fat. Following its Q1 2020 earnings release, the analyst community is singing its praises. On May 12, CELH reported revenue of $28.2 million, which flew past the Street’s $13.4 million call and reflected a whopping 94.6% year-over-year gain. Up 660 basis points year-over-year, gross margin also surpassed the consensus estimate. The driver of this impressive quarterly performance? Maxim Group’s Anthony Vendetti believes it was “the continued momentum and traction CELH is gaining as its products expand both nationally and abroad.” Even though he acknowledges that consumer purchasing behaviors have changed, the analyst highlights the fact that functional beverage demand is holding up strong. In addition, COVID-19 played a role during the first quarter. “CELH has seen a surge in grocery deliveries and online orders and, in response, has stockpiled inventory and secured additional distribution and co-packer agreements. Additionally, the company has pivoted its marketing resources to digital programs, better reflecting the current macro environment. Although we believe that CELH has received a short-term sales bump from COVID-19, we remain positive in the long-term as the company continues to expand its distribution network and highlight itself as a 'lifestyle brand,' where active, routine customers continue to drive growth,” Vendetti explained. All of the above combined with a compelling valuation prompted Vendetti to maintain a Buy recommendation. On top of this, the four-star analyst bumped up the price target from $8 to $12, bringing the upside potential to 33%. (To watch Vendetti’s track record, click here) Looking at the consensus breakdown, 4 Buys and no Holds or Sells give CELH a unanimous Strong Buy analyst consensus. Not to mention the $11.31 average price target suggests 26% upside potential. See the CELH stock analysis. NeoPhotonics Corporation (NPTN) NeoPhotonics is one of the top manufacturers of ultra-pure light lasers and optoelectronic products that transmit, receive and switch the highest speed over distance digital optical signals for cloud and hyper-scale data center internet content provider and telecom networks. After tuning in to the company’s recent webinar, one analyst thinks its future is bright. Needham’s Alex Henderson cites a few key takeaways from the webinar discussing “Optical Technology Trends and Capacity in IP over DWDM”. “The primary points of the presentation is the shift to higher speeds and the emergence of standardization enabling Pluggables strengthens Neo's competitive position should drive increased market share and improve margins,” he commented. Part of what makes NPTN a stand-out, in Henderson’s opinion, is that it has a diverse product lineup that’s ready to accelerate in new arenas. It has also already been seeing traction with its more advanced capabilities. This translates to a significant competitive advantage for NPTN. Additionally, the company believes that its speeds will reach 400G and above, which will give it the chance to capture even more market share. On top of this, the expansion into the C++ extended spectrum bands is producing design wins. Henderson explained, “Neo's ability to use the same components and to take advantages of the ultra-clean signal enables Neo to offer as much as a 50% increase in spectral capacity using C++. This is an important advantage. Neo is already seeing considerable traction particularly in China for this technology.” Taking all of this into consideration, Henderson stayed with the bulls. Along with a Buy rating, he reiterated a $12 price target. This target conveys the five-star analyst’s confidence in NPTN’s ability to surge 45% in the next twelve months. (To watch Henderson’s track record, click here) In general, other analysts echo Hendersons’s sentiment. 7 Buys and 1 Hold add up to a Strong Buy consensus rating. A twelve-month rise of 45% could be in store if the $12.07 average price target is met. See the NPTN stock analysis. Bunge Limited (BG) Counting itself as the world’s largest soybean processor, Bunge Limited operates as an agribusiness and food company. Connecting farmers and consumers, the company is also involved in food processing, grain trading and fertilizer. Sure, 2020 has not been kind to this stock, with shares down 38% year-to-date, but several analysts see a turnaround on the horizon. The recent negative sentiment surrounding BG can be attributed to its most recent quarterly performance. Looking at revenue, the figure came in at $9.2 billion, missing the consensus estimate by 8.6%. It also didn’t help that a loss of $1.46 per share was reported. That being said, Baird analyst Ben Kallo is looking at the glass half full. Speaking to its recent portfolio optimization, the five-star analyst believes the company has “unlocked substantial value.” Additionally, the stock is trading at levels that are less than book value. As a result, he argues that now is the time for investors to “get more constructive on the longer-term earnings power story, enabled by BG's leading (and underappreciated) asset footprint.” It should also be noted that last week, BG declared a regular quarterly cash dividend of $0.50 per common share as well as a $1.22 per share quarterly dividend on its 4.9% cumulative convertible perpetual preference shares. With everything that Bunge has going for it, it’s clear why Kallo is optimistic. Giving the stock a thumbs up, the analyst upgraded his rating from Neutral to Outperform. At $46, his price target suggests shares could climb 30% higher in the twelve months ahead. (To watch Kallo’s track record, click here) Turning now to the rest of the Street, most other analysts are on the same page. Out of 4 analysts that have thrown an opinion into the mix, 3 were bullish, making the consensus rating a Strong Buy. To top it all off, the $57.50 average price target speeds past Kallo’s and brings the upside potential to 63%. See the BG stock analysis. PetIQ, Inc. (PETQ) Through retail channels across the U.S., PetIQ offers affordable pet health and wellness products as well as veterinary services. While the company, like the broader market, has been impacted by the COVID-19 pandemic, some analysts believe gains are in store post-virus. Writing for Oppenheimer, five-star analyst Brian Nagel tells clients that PETQ is well-positioned to stage a post-COVID-19 rebound. “We are increasingly optimistic that the products and services businesses of PETQ should prove situated well to capitalize upon improved underlying consumer demand, given a recent surge in pet adoptions and rescues amid broad-based shelter in place orders across the U.S.,” he said. Adding to the good news, PETQ just unveiled its telehealth platform. As part of the collaboration with whiskerDocs, prior PetIQ service customers will have access to various telehealth services, with a more comprehensive digital experience for new and existing customers coming later down the road. To conclude, Nagel opined, “In our view, PETQ represents one of the most compelling, early stage small-cap growth stories to emerge in the consumer sector in a long while. A few key factors underpin our initial positive stance on the shares: 1) Potential for sustained, outsized topline expansion, owing to a still small market share, a unique consumer proposition, and favorable industry dynamics; 2) Already compelling free cash flow generation and the opportunity for rapidly expanding sales to leverage largely fixed operating expenses; and 3) An attractive valuation.” It should come as no surprise, then, that Nagel kept an Outperform call and $50 price target on the stock. Given this target, shares could jump 73% in the next year. (To watch Nagel’s track record, click here) Like Nagel, other analysts also like what they’re seeing. With 3 Buys and no Holds or Sells, the word on the Street is that the stock is a Strong Buy. In addition, the $39 average price target implies 35% upside potential. See the PETQ stock analysis. Ocular Therapeutix, Inc. (OCUL) Last but not least on our list of Perfect 10s we have Ocular Therapeutix, which leverages its formulation expertise to develop cutting-edge treatments. With the company dosing the first patient in the Phase 1 open-label trial of OTX-CSI, its bioresorbable insert designed to release drug to the ocular surface for up to three months as a treatment of dry eye disease (DED), it’s clear why Wall Street focus has locked in on this healthcare name. Looking more closely at the trial, it’s being conducted in a single center in the U.S., with it slated to enroll five patients and follow them for four months. As for why OCUL is garnering so much attention, it comes down to the design of the therapy. OTX-CSI enables preservative-free delivery of a constant dose of cyclosporine, which could be less irritating than eye drop formulations. In addition, blocking the punctum may provide immediate relief for dry eye symptoms. H.C. Wainwright analyst Yi Chen acknowledges that there’s already a treatment available for DED called RESTASIS, which generated sales of $1.1 billion in 2019. However, the analyst points out that the irritating side effects and slow onset of efficacy have led to high patient dropout rates. Expounding on this, Chen stated, “In our view, an intracanalicular insert approach could be a better route of administration for chronic DED treatment; OTX-CSI could be less irritating and faster-acting compared to RESTASIS, in addition to eliminating the burden of twice-daily eye drop instillation required for RESTASIS.” It should be noted that OCUL also faces competition from Oyester Point Pharma and its OC-01 candidate, but its recent data readout revealed lackluster levels of efficacy. “OC-01’s efficacy on DED symptom is a mixed bag at best, in our view, and neither dose met the symptom endpoint twice in the two studies. In addition, neither dose met the secondary symptom endpoint,” Chen mentioned. All in all, Chen believes OCUL’s long-term growth prospects are strong. As a result, the five-star analyst reiterated a Buy rating and $10 price target, suggesting 39% upside potential. (To watch Chen’s track record, click here) When it comes to other analysts, they take a similar approach. Two other analysts have published a review in the last three months, and both rated the stock a Buy, so the consensus rating is a Strong Buy. Based on the $9.67 average price target, the upside potential lands at 34%. See the OCUL stock analysis.
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SpaceX and NASA are scheduled to launch the first orbital human spaceflight from U.S. soil since the Space Shuttle Program ended in 2011. But as SpaceX dominates the headlines, a large number of small launch startups are poised to fail. WSJ’s Liz Ornitz explains. Photo: NASA/Tony Gray, Tim Terry & Kevin O’Connell(Bloomberg Opinion) — HBO Max launches in just two days, and it has the potential to be one of the best streaming-TV apps out there. The only problem is, consumers don’t seem to have a clue what’s on it. In a poll earlier this month conducted by Morning Consult and the Hollywood Reporter, some 2,000 U.S. adults were asked to choose from a list of TV shows and movie titles which ones they think will be available on HBO Max, a new Netflix-like service being introduced by AT&T Inc.’s WarnerMedia division. The results should worry company executives:As the chart shows, hardly any of the respondents knew that HBO Max would be the exclusive streaming destination for the hit sitcoms “Friends” and “The Big Bang Theory” — highly sought-after content rights that WarnerMedia reportedly spent more than $900 million to secure for the new service. It also wasn’t apparent to the survey takers that DC Comics films and “Sesame Street” would reside on HBO Max.HBO has stood as a force all its own for so long that most people just don’t realize it shares a parent company with Warner Bros. studios and other TV networks, such as Cartoon Network, TBS and Turner Classic Movies. That’s too bad since the same poll showed that the inclusion of such content would make many consumers more likely to subscribe. The most telling response, though: Most of the people polled didn’t even think that “Game of Thrones” — the premier series of HBO’s entire 47-year history — would be accessible through HBO Max, even though it has “HBO” in the name. Consumers can be forgiven for the confusion. Americans’ experience so far with streaming-TV apps is that nothing is intuitive and everything is hard to find. For example, it’s not like ESPN+ is a digital replica of regular ESPN; it’s a different product entirely. And for years “Friends” has been available on Netflix, so young people may only know it as a Netflix show. Without being aware of HBO’s ownership and WarnerMedia’s recent dealmaking, there’s no obvious reason Central Perk would be on the same block as Sesame Street, around the corner from Westeros on the streaming continent of HBO Max. To make matters more confusing, streaming regular HBO (through the HBO Now app) and signing up for HBO Max costs exactly the same — $15 a month.Disney+, which has signed up more than 50 million users since its November launch, doesn’t share HBO Max’s branding conundrum. The only thing survey takers seemed to know for sure is that “The Mandalorian” isn’t part of HBO Max. And that’s probably because Walt Disney Co. has so successfully reestablished “Star Wars” as a Disney property, even though it has only owned the franchise since 2012. The same goes for Pixar and Marvel. It’s for that reason that the biggest hangup of Disney+ — being so narrowly focused on superheroes and kid-friendly programming — can also be a strength. The biggest challenge for other streaming services may be building loyalty when viewers aren’t quite sure what to expect. The move away from appointment viewing on cable TV means that while we’re loyal to particular series and trilogies, we don’t necessarily know (or care) what networks or studios they’re tied to. For WarnerMedia, there’s still certainly a powerful advantage in continuing to use the HBO name for its new product — right away it tells people to expect great content (and hopefully that quality isn’t sacrificed while trying to keep up with the Netflix production factory). At the same time, it makes it difficult and costly to educate consumers on what HBO Max even is. That’s especially true when some of its content is temporarily licensed from its very competitors, such as Disney’s “The Mighty Ducks” and “X-Men: Dark Phoenix,” thanks to distribution deals that predate the streaming wars. (Remember, “X-Men” is Marvel, not the DC Extended Universe.)HBO Max could give other apps a run for their money. But how do you easily explain that it’s just like regular HBO, but it has all this other stuff you’ll probably like as well, yet it doesn’t cost anything extra? Good luck fitting that into a compelling advertisement.This 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/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Israel is divided over the trial of Prime Minister Benjamin Netanyahu, who faces corruption charges including allegedly accepting gifts such as champagne, cigars and jewelry. WSJ’s Dov Lieber explains. Photo: Gali Tibbon/Associated Press(Bloomberg) — Oil traded near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.China warned on Sunday that some in the U.S. were pushing the countries toward a new Cold War, stoking concerns that deteriorating relations between Beijing and Washington could complicate the market’s recovery from a historic demand crash. Futures edged higher in New York after falling earlier, with trading volumes thin due to holidays in the U.S., U.K. and Singapore.See also: Oil’s Sudden Rebound Is Exposing the Achilles’ Heel of ShaleCrude has surged more than 75% this month and the boss of the International Energy Agency gave bulls further hope, saying in an interview that demand may well recover from an unprecedented shock caused by Covid-19. Even so, the return of U.S.-China tensions has soured risk sentiment and rekindled more-immediate demand concerns. There’s also concern that some supplies idled during oil’s rout will start to return.“With prices above $30, the recent rally may have pushed too far,” said Hans van Cleef, senior energy economist at ABN Amro. “Inventories remain highly elevated and every disappointment could trigger a fresh wave of profit taking. I will continue to point at downside risks towards my clients.”The U.S. should give up its “wishful thinking” of changing China, Foreign Minister Wang Yi said during his annual news briefing on the sidelines of National People’s Congress meetings in Beijing. He also warned America not to cross China’s “red line” on Taiwan.While fuel consumption climbs in some nations with the easing of lockdown restrictions, the cheapest U.S. gasoline in nearly two decades won’t be enough to entice nervous Americans to hit the road for Memorial Day weekend. The uncertainty around travel is so great due to the virus that American Automobile Association is not releasing a forecast for the first time in 20 years.“In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back to where it was, and beyond,” Fatih Birol, the head of the IEA, said in an interview, urging governments to focus spending on combating climate change.Big oil annual general meetings in the U.S. and Europe this week should shed light on how heavily producers have been hit by lockdowns, with Total SA, BP Plc, Exxon Mobil Corp. and Chevron Corp. among those fronting shareholders. Meanwhile, Russian President Vladimir Putin has given his government until June 15 to come up with a plan to support the country’s oil industry.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The German government and the management of flagship carrier Lufthansa, which has been hit hard by the coronavirus pandemic, have reached an agreement on state aid worth billions of euros, a source close to the matter said. The agreement is still pending approval by the German coronavirus rescue fund’s steering committee, which is expected to meet on Monday, as well as Lufthansa’s boards and the EU commission. The German government declined to comment.
May.25 — Bayer AG has reached verbal agreements to resolve a substantial portion of an estimated 125,000 U.S. cancer lawsuits over use of its Roundup weedkiller, according to people familiar with the negotiations. Tim Loh reports on “Bloomberg Markets: European Open.”(Bloomberg) — Alibaba Group Holding Ltd. slid after projecting revenue growth will slow this year, reflecting post-Covid 19 economic uncertainty at home as well as the potential for U.S.-Chinese tensions to disrupt its business.Its stock slid as much as 4% in Hong Kong Monday, after a drop of almost 6% in New York before the weekend. The e-commerce giant forecast sales growth this year of at least 27.5% to more than 650 billion yuan ($91 billion), down from 35% previously and slightly below analysts’ estimates. While it posted a better-than-expected 22% rise in March quarter revenue of 114.3 billion yuan, that marked its slowest pace of expansion on record.Online shopping began to bounce back from March, executives said Friday. But the tepid outlook demonstrates the world’s second-largest economy has yet to fully shake off Covid-19, with consumers still hesitant about spending on big-ticket items. Asia’s most valuable corporation is tackling also the rise of rivals such as ByteDance Ltd. and Pinduoduo Inc. And the Tmall operator is going head-to-head with Tencent Holdings Ltd. for internet leadership in everything from online media to payments and cloud computing. JD.com Inc., the No. 2 Chinese online retailer, forecast better-than-expected revenue this quarter.“The market is a bit disappointed despite the strength given 2Q guidance of 20-30% YoY growth for JD and 99% GMV growth in 1Q20 for PDD,” CICC analyst Natalie Wu wrote. “We regard Alibaba’s advantage as a market leader as intact and unchanged in the longer run, though it may take several quarters for market sentiment to swing back.”Read more: Alibaba Sales Growth Plumbs New Lows While Uncertainty EscalatesAlibaba has lost more than $70 billion of market value since the coronavirus first erupted in January, and now has to grapple with not just an uncertain global economic environment but also any potential fallout from U.S.-Chinese financial tensions. On Friday, executives sought to assuage concerns about a U.S. bill that mandates much closer accounting scrutiny of U.S.-listed Chinese companies and may bar them from American bourses.Chief Financial Officer Maggie Wu said Friday Alibaba’s financial statements have been consistently prepared in accordance with U.S. GAAP accounting measures and were beyond reproach. “The integrity of Alibaba’s financial statements speak for itself, we have been an SEC filer since 2014 and hold ourselves to the highest standard,” she told analysts on a conference call. “We will endeavor to comply with any legislation whose aim is to protect and bring transparency to investors who buy securities on U.S. stock exchanges.”The bigger short-term challenge is in reviving growth: Alibaba’s bread-and-butter customer management or marketing business grew just 3% in the March quarter. Much of that stems from weaker consumer sentiment during the coronavirus-stricken quarter, when total Chinese e-commerce rose just 5.9% or at less than a third of 2019’s pace, according to government data. Jefferies analysts led by Thomas Chong wrote that Alibaba’s guidance was in fact a positive when viewed against an array of uncertainties gripping the post-Covid 19 global economic environment.What Bloomberg Intelligence SaysUser engagement and transaction volume have rebounded in April and May to precrisis levels, which bodes well for normalized sales growth ahead, especially as merchant-support measures are gradually rolled back.\- Vey-Sern Ling and Tiffany Tam, analystsClick here for the research.Rival PDD posted a revenue rise of 44% on Friday, down sharply from 91% in the previous quarter but ahead of expectations. Its sales and marketing expenses jumped 49%. PDD’s shares climbed 15% Friday.Alibaba’s March-quarter net income was 3.2 billion yuan, down 88% from a year ago when it booked an 18.7 billion yuan one-time gain on investments. In February, Alibaba declared a waiver of some service fees for merchants struggling financially during the outbreak on its main direct-to-consumer Tmall platform. In April, the company rolled out a new 10-billion-yuan subsidy program for Tmall users to buy electronics, encroaching on JD.com’s traditional turf. These initiatives may further compress margins for the June quarter.“The challenging part is for them to achieve the same amount of growth this year,” said Steven Zhu, a Shanghai-based analyst with Pacific Epoch. “Just because they are too big, for the same amount of growth, they need to spend much more effort.”But executives were confident in a gradual e-commerce recovery over the year. Beyond its main business, younger divisions such as its cloud computing arm should buoy the bottom line. That division’s revenue jumped 58% in the quarter.“Despite a challenging quarter due to reduced economic activities in light of the COVID-19 pandemic in China, we achieved our annual revenue guidance,” Wu said in a statement. “Although the pandemic negatively impacted most of our domestic core commerce businesses starting in late January, we have seen a steady recovery since March.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
May.24 — Hong Kong protesters battled with riot police in busy downtown areas on Sunday, showing their opposition toward China’s dramatic move to crack down on dissent in the biggest demonstration since the coronavirus swept through the city in January. Stephen Engle reports on “Bloomberg Daybreak: Australia.”