Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Who Are The Economic Winners At The Sochi Winter Games?

Friday, February 7, 2014 3:59 PM

After all the news – positive and negative – and the media hype -- good and bad – the 22nd Winter Olympics are finally here and underway in the Black Sea resort of Sochi, Russia.

There's been a lot already written about the cost of these Winter Games – estimated at close to $60 billion, or about 25 percent more than what China reportedly spent on the 2008 Summer Games in Beijing.

In fact, Sochi is expected to be the most expensive Olympics, winter or summer, in history. And a report released Wednesday by Moody's (NYSE:MCO) rates the Sochi Games as Credit Neutral, “given that they are unlikely to give the provide the country with a macroeconomic boost in 2014.”

Related: What Companies Stand To Benefit From The Winter Olympics In Sochi?

In its report, Moody's notes that most of the Winter Games' economic benefits, such as boosts to infrastructure and the construction sector, have already been absorbed economically “and were mainly realized at the regional level.”

And while the Beijing Games were seen as a huge advertisement for China's emergence as a world power, Moody's believes whatever benefits Russia might get from hosting these Winter Olympics “have been undercut by the high cost of the event and other bad publicity.”

But the investors service says some economic winners are already coming out of Sochi, most notably the game's multinational corporate sponsors, including Proctor & Gamble (NYSE:PG) and General Electric (NYSE:GE).

Moody's says the Winter Games are Credit Positive for those sponsors, especially for media and telecommunications companies, giving the growing popularity of viewing the Olympics via the internet on computers, smartphones and other devices – all of which, Moody's says, provide those companies with new opportunities to “extend their advertising engagement.”

Some transportation companies are also expected to see a financial boost from the Winter Games, as are food and non-food retailers.

(c) 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!
Market Wrap For April 17: Mixed Earnings Drag The Dow Lower While S&P 500 & Nasdaq End PositiveMarket Wrap For April 17: Mixed Earnings Drag The Dow Lower While S&P 500 & Nasdaq End Positive
U.S. stocks were mostly higher on Thursday as both the S&P 500 index and Nasdaq index recorded a fourth straight winning session in a relatively slow news day that was heavy on earnings. The Dow...
UPDATE: General Electric Posts Upbeat Q1 EarningsUPDATE: General Electric Posts Upbeat Q1 Earnings
General Electric Co (NYSE: GE ) reported a drop in its first-quarter profit. GE`s quarterly profit fell to $3 billion, or $0.30 per share, versus a year-ago profit of $3.53 billion, or $0.34 per sh...
Earnings Scheduled For April 17, 2014Earnings Scheduled For April 17, 2014
General Electric Company (NYSE: GE ) is estimated to report its Q1 earnings at $0.32 per share on revenue of $34.36 billion. BlackRock (NYSE: BLK ) is projected to report its Q1 earnings at $4.14 ...
Stocks To Watch For April 17, 2014Stocks To Watch For April 17, 2014
Some of the stocks that may grab investor focus today are: Wall Street expects Goldman Sachs Group (NYSE: GS ) is estimated to report its Q1 earnings at $3.45 per share on revenue of $8.70 billion....
Market Wrap For April 15: Who Doesn't Love A Turnaround?Market Wrap For April 15: Who Doesn't Love A Turnaround?
U.S. stock futures were pointing towards a modestly higher open as investors found enough optimism from Dow components Coca-Cola and Johnson & Johnson who both reported better than expected qu...
Tax Dodging Companies Cost You More Than $1,200 Each YearTax Dodging Companies Cost You More Than $1,200 Each Year
Every year that multinational corporations and wealthy individuals lower their U.S. tax bills by stashing profits in off-shore tax havens, you pay more to cover their tab. The same is true for small b...
Barron's Recap: The Tech BustBarron's Recap: The Tech Bust
This weekend in Barron`s online: why the tech bust should be no surprise, a special report on retirement, as well as the prospects for Caesars Entertainment, Lands` End, 3D printers and more. Cov...
Earnings Expectations For The Week Of April 14: Coca-Cola, Goldman Sachs, Google And MoreEarnings Expectations For The Week Of April 14: Coca-Cola, Goldman Sachs, Google And More
The new earnings season kicks into high gear this shortened week. Highlights will include quarterly reports from Bank of America, Citigroup and Goldman Sachs, from Intel and IBM, and from Coca-Cola,...
Benzinga Weekly Preview: Short, But Action Packed Week AheadBenzinga Weekly Preview: Short, But Action Packed Week Ahead
Next week will be a short, but action packed week with earnings season underway and several central bankers set to speak. Many countries’ markets will be closed on Friday, April 18 for the Good Frid...
Top 40 Upcoming Earnings ReleasesTop 40 Upcoming Earnings Releases
Week starting April 14 Monday, April 14 Citigroup, Inc. (NYSE: C ) reports 1Q14 results premarket. J.B. Hunt Transport Services (NASDAQ: JBHT ) reports 1Q14 results during market hours. ...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.