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Yahoo BusinessOct 25, 2020
Cenovus Energy Agrees to Buy Husky Energy in All-Stock Deal
While the novel coronavirus pandemic has upended several sectors, some industries are doing better than others. One such sector is tech. SPDR S&P Software & Services ETF (NYSEARCA:XSW) is up by 41.74% compared to the S&P 500, which is up by just 22.73%. One of the major contributors to this enormous success is Cisco (NASDAQ:CSCO) stock. Source: Valeriya Zankovych / Shutterstock.com Many will remember the company from the dot-com bubble burst in the late 1990s. Cisco stock reached some astronomical numbers during that time. And although it hasn't scaled those heights since, it is one of the most consistent stocks around, up approximately 33% over the last five years. And why not? Cisco has an excellent balance sheet with very little debt. It also boasts excellent operating metrics, juicy dividend yield and is trading at a steep discount to the sector. With so much going for it, it's hard to argue against Cisco stock right now.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cisco Stock Is a Bargain Although Cisco stock has recovered a bit from the drubbing it received at the height of the pandemic in March, shares are still trading at a 25.79% discount to the 52-week high of $50.28 per share. You can chalk that up to the global economic slowdown brought about by the pandemic. However, not all is doom and gloom. Several companies are in the race to manufacture a commercial Covid-19 vaccine. So, the slowdown should start letting up soon, and hopefully, pent up demand will make up for any lost sales. 7 Airl

Yahoo BusinessOct 25, 2020
Dunkin' Brands Says It's in Talks to Be Acquired by Inspire
(Bloomberg) -- Dunkin' Brands Group, Inc., parent company of coffee-and-donuts chain Dunkin' and Baskin-Robbins, said it's in talks to be acquired by private equity-backed Inspire Brands.The New York Times reported the talks earlier, saying Inspire will take Dunkin' private at $106.50 a share, citing two people with knowledge of the negotiations who weren't identified. The deal -- valued at $8.8 billion -- could be announced as soon as Monday, the newspaper added. The price is a 20% premium over Friday's closing price, when the company had a market capitalization of $7.3 billion."Dunkin' Brands confirms that it has held preliminary discussions to be acquired by Inspire Brands," Karen Raskopf, a Dunkin' spokeswoman, said in a statement, declining to offer further details and cautioned that there's is no certainty an agreement will be reached.Shares of Dunkin' Brands have more than doubled since March on investor optimism that its mobile ordering app and loyalty program boosted sales during the pandemic. The Canton, Massachusetts-based company dropped the word "Donuts" from its name in 2018, signaling its broadened focus on beverages. The stock traded at 34 times earnings, lower than the median multiple of 37 for the industry, according to data compiled by Bloomberg News. The number of coffee shops in the U.S. is shrinking for the first time in nine years as sales plunge and Covid-19 forces the industry to rethink its business. While that's helped Dunkin' and other coffee-serving chains such as Starbucks Corp. and ev

Yahoo BusinessOct 25, 2020
Pelosi, White House Say Each ‘Moving the Goalposts' on Stimulus
(Bloomberg) -- House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive and the Republican-led Senate might not act before the Nov. 3 U.S. election.Pelosi and White House Chief of Staff Mark Meadows accused each other of "moving the goalposts" on stimulus legislation in back-to-back Sunday interviews on CNN, showing why there's so much pessimism among U.S. lawmakers that a deal can be reached before Election Day. Pelosi cited a continuing lack of agreement on funding for stemming the coronavirus pandemic and on aid related to education."It could happen this week in the House," Pelosi said on "State of the Union." But it's up to Majority Leader Mitch McConnell "as to whether it will happen in the Senate," she said. "We want it the sooner the better, and that's why we're making concessions."Meadows didn't sound optimistic. "We continue to make offer after offer after offer, and Nancy Pelosi keeps moving the goalposts," he said on the same show.Pelosi said the administration was delivering updated proposed language on some unresolved issues, including those related to a testing and tracing program. "My understanding is we will be reviewing that over the weekend and will be having some answers on Monday," she said.If no coronavirus relief bill is passed before the election, Pelosi said House Democrats would keep pressing for an agreement in the lame-duck session after the election. She said they would not wait until Ja
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