business

Buy 5 Business Services Stocks Ahead of Q2 Earnings Next Week

We are in the middle of the coronavirus-stricken second-quarter 2020 earnings season and the results so far are highly disappointing mainly due to the lockdowns.

Coronavirus-induced devastations haven’t spared any sector and business services has suffered significantly. Nevertheless, a handful of business services companies are set to beat second-quarter earnings estimates next week.

A Brief Review of Q2

U.S. GDP plunged 32.9% in second-quarter 2020, marking its worst-ever quarterly decline, with the previous nearest low witnessed in the second quarter of 1921. Notably, in the first quarter, the economy declined by 5% year over year.

Economic activities were way below last year in the second quarter since lockdowns continued for nearly two months till the third week of May. Meanwhile, by mid-June, all 50 states reopened their economies in some form or the other.

However, a second wave of COVID-19 in some states since the second half of June forced

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In Ohio and nationwide, Joe Biden is better for Black business

OPINION: Biden’s common-sense plans will support Black entrepreneurs and small businesses as they recover and look to the future

Joe Biden plans to grow and strengthen Black-owned small businesses in Ohio and nationwide. Through his Build Back Better and Lift Every Voice plans, Biden will invest billions in the resources Black small business owners can leverage to drive their own success.

The former vice president will ensure access to credit and capital for Black businesses by doubling funding for community development financial institutions (CDFIs) and the state small business credit initiative that funds local lending. Biden will improve and expand the small business administration programs that most directly serve Black-owned small businesses, including the small business development centers, the SBA Microloan Program, and the 7(a) loan program.

Read More: Joe Biden to name VP running mate first week of August

As President, Biden will make permanent the Community Advantage Loan

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Amedisys Rides on Coronavirus-Led Business Amid Cost Woes

On Jul 17, we issued an updated research report on Amedisys, Inc. AMED. The stock currently carries a Zacks Rank #2 (Buy).

This renowned home health and hospice services provider has outperformed its industry over the past six months. The stock has rallied 16.4% against 1.4% decline of the industry.

The company noted that the COVID-19-led economic mayhem has had a mixed impact on its business. Before the second week of March, Amedisys witnessed a decline in referral volumes and an increase in MIS visits. From the second week of March, the company started to see a drop in MIS visits while witnessing steady recovery in referral volumes in all lines of businesses. In hospice, while referrals hit their lowest point, admission volumes significantly improved.

The company started to see signs of progress in episodes in March. Although the impact of COVID-19 ultimately led to increased lupus and fall in

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Tripadvisor Is a Media Business So Why Did It Unload These 8 Brands?

Tripadvisor Is a Media Business So Why Did It Unload These 8 Brands?
Tripadvisor Is a Media Business So Why Did It Unload These 8 Brands?

To the uninitiated, it might be easy to miss the fact that Tripadvisor, with all its click-based advertising, is essentially a media company. Why then did it dispose this week of eight of its Smarter Travel Media brands?

The transaction took place without an official Tripadvisor press release, let alone a financial filing. There will be no countdown to await regulatory approval. That’s because the asset disposal, which involved no employees because they had already been transferred within the company or furloughed, was inconsequential to Tripadvisor’s financial results. Terms of the deal were not disclosed.

In the deal, Cambridge, Massachusetts-based Hopjump, a marketing company offering travel deals, acquired eight of Tripadvisor’s less-well-known travel-oriented media companies, including Smarter Travel, Airfarewatchdog, BookingBuddy, OneTime, Oyster.com, Family Vacation Critic, What To Pack, and Holiday Watchdog.

Tripadvisor CEO Steve Kaufer

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