ConocoPhillips (NYSE:COP) has had a rough month with its share price down 7.6%. However, stock prices are usually…
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Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500's (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Kodak's Difficult Decade: One underperformer of the last decade was former camera giant Eastman Kodak Company (NYSE: KODK).Kodak's decade was defined by a bankruptcy and two major strategic pivots away from its legacy camera business.Extreme cash burn and a secular decline in Kodak's camera and inkjet printing businesses triggered a Chapter 11 bankruptcy in January 2012. The bankruptcy completely wiped out legacy shareholders, and Kodak's peak market cap of around $30 billion went down to $0.Kodak re-emerged from bankruptcy and relisted shares in November 2013 starting at $26.50 per share. Kodak's updated business model included segments Digital Printing & Enterprise and Graphics, Entertainment & Commercial Films.When the restructured company continued to struggle to gain traction, Kodak made a seemingly desperate move by pivoting to blockchain technology in January 2018 near the peak of the bitcoin bubble. After reporting declining revenues and a $111 million net loss in the first quarter of 2020, Kodak once again pivoted to producing generic drug ingredients in July, announcing a brand new $765 million loan from the U.S. government.After opening at $26.50 post-bankruptcy in late 2013, Kodak shares peaked at $37.73 in early 2014 before resuming the steady march downward that long-time investors had endured since the 1990s.Kodak shares dropped as low as $2.95 in late 2017 before the blockchain pivot sent the stock skyrocketing as high as $13.27 in January, 2018. By late 2018, Kodak was making new lows again.2020 And Beyond: After hitting an all-time low of $1.50 in March 2020, Kodak shares skyrocketed to new all-time highs on the drug news just four months later. Kodak shares peaked at $60 in the days following the announcement before pulling back to around $36.Even after the massive 2020 run, Kodak shares have significantly lagged the S&P 500 since it emerged from bankruptcy in 2013. In fact, $1,000 worth of Kodak stock in 2013 would be worth about $1,384 today.At the same time, $1,000 worth of legacy Kodak stock purchased in 2010 would now be worth $0 due to the bankruptcy.Related Links:Here's How Much Investing ,000 In Nokia Stock Back In 2010 Would Be Worth Today Here's How Much Investing ,000 In Pfizer Stock Back In 2010 Would Be Worth TodaySee more from Benzinga * Kodak Short Sellers Are Getting Obliterated * A Closer Look At The Kodak Chairman's Stock Purchases As Shares Rally 1,500% * Kodak Had Some Very Suspicious Trading Activity Ahead Of Drug News(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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(Bloomberg) — Under Armour Inc. managed to reach more customers than expected last quarter, even with most of its stores closed — but the road ahead is looking bumpy.The athletic-goods maker’s second-half revenue is likely to fall 20% to 25%, with its recently improved gross margin coming under new pressure, executives warned on a call with analysts Friday. The volatile stock soared in premarket trading after second-quarter revenue beat estimates, but it gave up the gains after the open, falling as much as 7.3% to $10.61 in New York.The company expects pressure on its gross margin in the second half of the year, and might not have enough inventory if sales recover faster than expected, executives said on the call.That would be a comedown from a second quarter in which Under Armour’s gross margin rose to 49.3% from 46.5% a year earlier. The company cited fewer off-price sales and more direct-to-consumer transactions as homebound shoppers ordered online.Second-quarter revenue fell 41% from a year earlier to $707.6 million, but that handily topped the highest estimate of $596 million, according to a Bloomberg survey of analysts.The company responded to the Covid-19 slowdown by “amplifying Under Armour’s connection with our consumers through innovative digital activations” and “proactively managing our cost structure,” Chief Executive Officer Patrik Frisk said in a statement.The Baltimore-based company didn’t address the notices that founder Kevin Plank and Chief Financial Officer David Bergman received from the U.S. Securities and Exchange Commission last week, naming the two in a probe of the company’s accounting.For more details on the earnings, click here for our TOPLive blog.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.
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Tao Value recently released its Q2 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 36.45% for the quarter, outperforming its benchmark, the MSCI All Country World Index (ACWI) which returned 18.81% in the same quarter. You should check out Tao Value's top 5 stock picks for […]
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Shares of Expedia (EXPE) fell over 5% in pre-market as travel restrictions took a toll on operations in the second quarter. The company lost $4.09 per share in 2Q, significantly worse than analysts’ expectations of a $3.34 loss. Moreover, it compared unfavorably to the earnings of $1.77 per share in the year-ago period.Expedia’s quarterly revenues plunged 82% to $566 million year-over-year and missed the Street estimates of $681.9 million. The significant drop in its revenues reflects a decline in bookings due to travel restrictions imposed by countries across the world to contain coronavirus. Bookings fell by 90% year-over-year during the quarter.Despite a weak 2Q, five-star analyst Naved Khan of SunTrust Robinson assigned a Buy rating on Expedia with a price target of $138 (62.5% upside potential).In a research note, Khan said, "We’re encouraged by signs of a strong recovery in core lodging, which saw a rebound in net bookings during May/June and stabilized trends in July." He further stated, "We expect these changes to result in a more nimble and profitable business over the M/L term, supporting our bullish LT view."Overall, EXPE has a Moderate Buy analyst consensus. Given over 21% year-to-date decline in its stock, the average price target of $95.18 implies a 12.1% upside potential in the coming 12 months. (See EXPE stock analysis on TipRanks).Related News: Apple Up 6% After-Hours On Blowout Quarter; Strong iPhone Demand Amazon Rises 5% As ‘King Of E-Commerce Shines Amidst The Pandemic’ Facebook Soars 6% After-Hours On Strong Beat, Ad Resilience More recent articles from Smarter Analyst: * Comcast Beats Estimates On Robust Internet Customer Growth * Molson Coors Delivers Q2 Earnings Beat Despite Covid-19 Fallout * Eli Lilly Drops 5% On Weak 2Q Sales; Analyst Says Hold * Flex Jumps 5% In Extended Trading On Earnings Beat, Upbeat Guidance
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