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Wall Street Journal US BusinessAug 04, 2020
Black-Owned Businesses Hit Hard by Coronavirus Pandemic, Study Finds
Businesses owned by Blacks were hit especially hard by the coronavirus pandemic because of geography, limited reach of a key federal aid program and weaker ties to banks, a Federal Reserve Bank of New York report finds.

MarketWatch MarketPulseAug 04, 2020
AMD stock surges to new record on road to $100 billion market cap
Advanced Micro Devices Inc. soared to fresh records Tuesday after one analyst hiked his price target on the chip company. AMD shares spent Tuesday carving out new intraday records, and were last up 8.5% at $84.30, on track for a new closing record. The stock last closed at a record $78.20 on July 30, fresh from AMD's strong earnings and indications that the company's share gain from Intel Corp. was quickening. At current levels, AMD is about $1 billion shy of breaking a $100 billion market cap. In a Tuesday note, Jefferies analyst Mark Lipacis, who has a buy rating on AMD, raised his price target on AMD to $95 from $86. Lipacis said the lead of AMD, and its chip fabricator Taiwan Semiconductor Manufacturing Co. , over Intel appeared "systemic." Lipacis said he expects AMD share gains to accelerate especially in the server market, with an estimated 30% share over the next two to three years, and 50% in four to five years. In its recent earnings call, AMD said it had just reached 10% share of the server market. Of the 36 analysts who cover AMD, 15 have overweight or buy ratings, 18 have hold ratings, and three have sell ratings, with an average price target of $75.76, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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