Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. PG&E (PGC) still plans to move forward with its Chapter 11 bankruptcy protection filing, according to Axios, citing a source familiar with the matter. On Thursday, California investigators ruled that the company was not responsible for the 2017 Tubbs fire near Santa Rosa that destroyed thousands of acres and killed more than 20 people, the publication noted. 2. Amazon (AMZN) is planning to build physical shops in London and across southern England, and has invited bids from potential partners to find retail space for its Amazon Go stores, according the Daily Mail, citing documents. The stores will sell items such as ready-to-eat food and meal kits and will be connected to its Amazon Go app, similar to the e-commerce giant’s physical stores in Seattle, Chicago and San Francisco, the publication noted. 3. Dell Technologies (DELL) is one of the most intriguing value plays in the stock market today and that is because it owns an 81% stake in VMware (VMW), as well as interests in two other public companies, namely Pivotal Software (PVTL) and SecureWorks (SCWX), Andrew Bary wrote in this week’s edition of Barron’s. It is rare to find a major company that owns stakes that are worth more than its own market value, he noted, adding that Dell shares still look cheap even taking into account factors like heavy debt, tax issues, corporate governance and an investor base that may be seeking to exit regardless of price. 4. Comcast (CMCSA; CMCSK) subsidiary Universal’s “Glass” won the weekend at the box office with an estimated $19M in its second outing, for a 10-day domestic total of $73.6M. Overseas, the superhero movie stayed atop the foreign box office chart with another $23.6M for a worldwide cume to $162.7M. The film earned a B CinemaScore and sports a 36% Rotten Tomatoes score. 5. Intel (INTC), Gilead Sciences (GILD), KLA-Tencor (KLAC), Teradyne (TER) and Gentex (GNTX) saw positive mentions in Barron’s.
previous post