1.“If the schedule is long, the design is wrong,” was an adage shared by SpaceX Founder and Chief Engineer Elon Musk as he waded into a range of topics on the first day of SATELLITE 2020 — from the value of a college education, management by rhyming, and updates on Starlink and Starship — while name checking everyone from Homer Simpson, Sergei Korolev, Bill Gates, Steve Jobs, and Larry Ellison.
On the hot topic of Starlink, Musk shut down the idea that SpaceX is considering splitting it off for a potential IPO.
2.Visa (V) closed at $168.47 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's 0.16% loss on the day. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Heading into today, shares of the global payments processor had lost 0.99% over the past month, outpacing the Business Services sector's loss of 13.96% and the S&P 500's loss of 10.5% in that time.
Investors will be hoping for strength from V as it approaches its next earnings release. The company is expected to report EPS of $1.35, up 3.05% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.80 billion, up 5.61% from the prior-year quarter.
I like visa at this valuation.