16 March Watchlist đź‘€

 

Today we are watching…

1. Bank of America (#bankamer)

Bank stock investors may need to act fast to reverse their positions. Financial giants rely on high-interest rates to earn more from outgoing loans than they pay to savers. The CEO may only have himself to blame, however. At a conference on Friday, Brian Moynihan said the United States was “in a state of war to contain the coronavirus,” calling it “the world’s common enemy.” The Federal Reserve must have only been listening. Luckily, his bank is in a solid financial position. Many investors think Bank of America is in the bargain bin!

2. LVMH (#lvmh)

What better way to promote your corporate social responsibility than by volunteering your factories to produce a vital public resource at a time of need? Starting today, Louis Vuitton Moet Hennessey is using its perfume factory to produce free hand sanitizer for France, aiding in the fight against coronavirus, and balancing out the firm’s use of cheap labour in Asia. The luxury goods group won’t be selling as many Christian Dior, Givenchy, and Hublot products as consumers tighten their purse strings and stay at home this quarter, so why not lend a hand? French officials have already ordered the closure of restaurants, cafés, and non-essential stores.

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