New for subscribers: These cloud stocks are pulling away from the competition during coronavirus, Bank of America says Check out CNBCPro for a free trial.
Zoom founder Eric Yuan poses in front of the Nasdaq building as the screen shows the logo of the video-conferencing software company Zoom after the opening bell ceremony on April 18, 2019 in New York City.Internet and software companies turned out to be smart quick plays for investors during the coronavirus pandemic, but Bank of America said some of the companies in the sector are set to enjoy a long-term boost from the shift in demand.
"We identify companies that not only benefit from COVID shifts in budgets and customer demand, but can sustain the benefit long term amid accelerated digital transformations, large addressable markets, superior technology/competitive moat, and strong customer economics," Kash Rangan, research analyst at Bank of America, said in a note.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deutsche Bank wealth boss says recession may fuel consolidationA recession triggered by the coronavirus pandemic could help accelerate mergers and acquisitions in the bank sector in Europe, the head of Deutsche Bank's wealth management business said in a newspaper interview.
Read more »
Morgan Stanley's former diversity head files racial discrimination suit against bankMorgan Stanley's former head of global diversity is suing the investment bank, alleging rampant racial discrimination and arguing in court documents, 'Black lives did not matter at Morgan Stanley.'
Read more »
Morgan Stanley’s Ex-Diversity Chief Sues the Bank Over Alleged Racial BiasMorgan Stanley’s former head of diversity sued the bank, saying it hadn’t done enough to promote people of color and that it fired her in December. The Wall Street firm rejected the allegations.
Read more »
Brazil court allows police to access Bolsonaro allies' phone, bank recordsBrazil's top court on Tuesday granted police permission to inspect financial and phone records of federal lawmakers allied with President Jair Bolsonaro as part of a probe into anti-democratic rallies, a source with direct knowledge of the ruling said.
Read more »
Bank of Canada focused on stimulus, low rates to support economyTiff Macklem, in his first public appearance as governor of the Bank of Canada, said on Tuesday the bank remains focused on using its policy tools, including low interest rates, to support the Canadian economy's recovery from the COVID-19 pandemic.
Read more »
Bank profits sank 70% in first quarter on coronavirus fallout: FDIC - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »