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Sep 28, 2020
Bull or bear market, no investment is a sure thing. Especially in the current financial environment, which remains riddled with uncertainty, finding compelling plays can be challenging for even the most seasoned market watchers. However, this is not to say that investment opportunities with stand-out growth prospects can't be found.Roth Capital research analyst Zegbeh Jallah pointed to the healthcare sector, in particular, as an area of the market worthy of investor attention."Biotech had had a strong performance during the midst of the pandemic, and we expect it to remain so, largely driven by solid fundamental catalysts. This is supported by the resumption of preclinical and clinical efforts at many companies, albeit with some new procedures in place," Jallah noted.Bearing this in mind, our focus turned to two penny stocks from the healthcare space backed by Roth Capital. Along with the stamp of approval, the firm believes that both of these tickers trading for less than $5 per share are primed for a massive rally.Digging a bit deeper, we used TipRanks' database to find out what makes both so compelling despite the risk involved.Seelos Therapeutics (SEEL)Primarily focused on neurological and psychiatric disorders, Seelos Therapeutics works to bring cutting-edge therapies to market. Currently going for $0.67 apiece, Roth Capital believes that its share price presents investors with an opportunity to get in on the action.Calling SEEL "substantially undervalued," firm analyst Jonathan Aschoff po
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Sep 28, 2020
(Bloomberg) -- Tesla Inc. secured its own lithium mining rights in Nevada after dropping a plan to buy a company there, according to people familiar with the matter.The automaker held discussions in recent months with Cypress Development Corp., which is seeking to extract lithium from clay deposits in southwest Nevada, but the parties didn't reach a deal, the people said, asking not to be named because the information isn't public. The electric car maker, which has vowed to slash its battery costs by 50%, instead focused on the plan that Chief Executive Officer Elon Musk outlined last week to dig for lithium on its own in the state.Producing lithium from clay has so far proven difficult and costly. No company has been able to produce commercial quantities using the practice. But a push into mining is at the center of Tesla's plan to cut battery costs and deliver on a promise to bring a $25,000 electric car to market. Musk told investors last week that Tesla has secured access to 10,000 acres of lithium-rich clay deposits in Nevada and planned to use a new, "very sustainable way" of extracting the metal.Tesla didn't respond to emails requesting comment. Cypress declined to comment on any talks with the automaker.The carmaker's decision to make its own battery cells, and to enter production of battery cathodes and associated raw materials, is intended to add in-house capacity alongside deals with external suppliers as demand for electric vehicles rises. The company this month struck a five-year r
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Sep 28, 2020
The leaders of the U.S. House Committee on Transportation and Infrastructure on Monday introduced bipartisan legislation to reform the Federal Aviation Administration's (FAA) aircraft certification process in the wake of two fatal Boeing 737 MAX crashes. The Boeing 737 MAX has been grounded since March 2019 after two crashes in five months killed 346 people. Boeing did not immediately comment.
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Sep 28, 2020
Like President Donald Trump, rich Americans often deploy sophisticated tax avoidance strategies to maximize their wealth. Here are a few.
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Sep 28, 2020
VANCOUVER, BC, Sept. 28, 2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced the company is expanding manufacturing capacity for production of its proprietary membrane electrode assemblies, or MEAs - a critical component of every fuel cell - 6x by early 2021 at its headquarter facility in Vancouver.
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Sep 28, 2020
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the second quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
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Sep 28, 2020
President Trump reportedly paid no taxes some years. See how to cut your own tax bill.
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Sep 28, 2020
Palantir is set to make its debut on the public markets on Tuesday. Here's what you need to know about the secretive big-data company and what its does.
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Sep 28, 2020
The tax-avoidance strategies that President Donald Trump capitalized on to shrink his tax bill to essentially zero are surprisingly common among major real estate developers and other uber-wealthy Americans. U.S. tax law has long been kind to big real estate developers.
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Sep 28, 2020
On Monday, Morgan Stanley maintained its "equal-weight" rating on shares of Zoom Video, noting that it is starting to "lean more cautious as valuation prices perfection on achievement of current opportunity." The Final Round panel discusses the call.
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Sep 28, 2020
With a price-to-earnings (or "P/E") ratio of 20.6x Exxon Mobil Corporation (NYSE:XOM) may be sending bearish signals...
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Sep 28, 2020
Yahoo Finance's Kristin Myers and Chris Vermeulen, TheTechnicalTraders.com Founder and Chief Market Strategist, discuss the latest market volatility.
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Sep 28, 2020
Bull or bear market, no investment is a sure thing. Especially in the current financial environment, which remains riddled with uncertainty, finding compelling plays can be challenging for even the most seasoned market watchers. However, this is not to say that investment opportunities with stand-out growth prospects can't be found.Roth Capital research analyst Zegbeh Jallah pointed to the healthcare sector, in particular, as an area of the market worthy of investor attention."Biotech had had a strong performance during the midst of the pandemic, and we expect it to remain so, largely driven by solid fundamental catalysts. This is supported by the resumption of preclinical and clinical efforts at many companies, albeit with some new procedures in place," Jallah noted.Bearing this in mind, our focus turned to two penny stocks from the healthcare space backed by Roth Capital. Along with the stamp of approval, the firm believes that both of these tickers trading for less than $5 per share are primed for a massive rally.Digging a bit deeper, we used TipRanks' database to find out what makes both so compelling despite the risk involved.Seelos Therapeutics (SEEL)Primarily focused on neurological and psychiatric disorders, Seelos Therapeutics works to bring cutting-edge therapies to market. Currently going for $0.67 apiece, Roth Capital believes that its share price presents investors with an opportunity to get in on the action.Calling SEEL "substantially undervalued," firm analyst Jonathan Aschoff po
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Sep 28, 2020
On Monday, Inovio announced that it would be halting its phase 2/3 coronavirus vaccine trial so that it could continue to answer questions from the FDA. This comes as the MidWest of the United States starts to see coronavirus positive cases topping 25%. Yahoo Finance's Anjalee Khemlani joins The Final Round to discuss the latest on the coronavirus.
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Sep 28, 2020
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
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Sep 28, 2020
Co-Diagnostics CEO Dwight Egan joins Yahoo Finance's Zack Guzman to discuss the company's new "ABC" test, which checks patients for Influenza A, Influenza B and the coronavirus.
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Sep 28, 2020
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
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Sep 28, 2020
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of June 30th, when the S&P 500 Index was trading around the […]
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Sep 28, 2020
The coronavirus crisis compounded that hold up this year as demand for air travel plunged, with Boeing saying in July it was delaying the 777X's entry to service by a year to 2022. GE said on Monday it has received orders and commitments for more than 600 GE9X engines, and has delivered eight GE9X test engines and two test spares for Boeing's four 777X test aircraft.
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Sep 28, 2020
Aaron Dessen, Payne Capital Management Financial Advisor, joins Yahoo Finance's Zack Guzman to discuss the current state of the markets and why earnings should be "a huge focus" for investors.
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Sep 28, 2020
The coronavirus pandemic neared a grim new milestone of 1 million deaths on Monday, as new diagnoses in the around the world continue to outpace a slowdown in the rate of fatalities.
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Sep 28, 2020
United Airlines' pilots voted on Monday to accept a deal that would avert 2,850 furloughs set for Thursday, while thousands of other U.S. airline employees are hoping Congress will extend federal aid to save their jobs. An initial $25 billion government bailout that covered airlines' payrolls and protected jobs for six months expires on Sept. 30, driving a fervent last-minute push by the industry for Congress to agree on a fresh stimulus package. Chicago-based United has already put in motion steps to furlough around 12,000 frontline employees, excluding pilots, on Thursday, officials said.
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Sep 28, 2020
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
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Sep 28, 2020
U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships. Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 million vehicles. Consumer demand for high-profit SUVs and pickup trucks has recovered rapidly since the spring.
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Sep 28, 2020
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
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Sep 28, 2020
Before you buy the dip in the markets in the latter stages of September, consider these key risks on the plate for October.
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Sep 28, 2020
Stocks on the move: Virgin Galactic on BOA buy rating, Pinterest as Guggenheim initiates coverage w/ buy rating??.
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Sep 28, 2020
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
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Sep 28, 2020
While Proofpoint, Inc. (NASDAQ:PFPT) might not be the most widely known stock at the moment, it received a lot of...
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Sep 28, 2020
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). We reversed our stance on March 25th after seeing unprecedented fiscal and monetary stimulus unleashed by the Fed and the Congress. […]
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Sep 28, 2020
For some, Tesla Inc's (NASDAQ: TSLA) battery day was a letdown: the technology sounded great, but it's still several years away, and Tesla did not have an onstage demo. Now CEO Musk has said in a tweet that the new 4680 cells have been used in prototype vehicles for months.While the vehicle models are unknown, a safe guess would be the Plaid Model S demonstrated on-screen at the event. Suppliers. We're only doing high energy nickel ourselves, at least for now. Also, maybe the presentation wasn't clear that we've actually had our cells in packs driving cars for several months. Prototypes are trivial, volume production is hard. -- Elon Musk (@elonmusk) September 26, 2020Benzinga's Take: This is great news. The fact that Tesla has been using the batteries for months mean they work well enough for Tesla to feel confident in sharing that they are coming.The last concern would be longevity, but there are laboratory testing methods to speed up battery degradation to find an estimated battery lifespan. Photo from Tesla Battery Day presentation.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Tesla Looking To Acquire Stake In LG Battery Business: Report * How Catherine Wood's Diverse Ark Investment Team Is Paying Huge Dividends(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Sep 28, 2020
If you buy and hold a stock for many years, you'd hope to be making a profit. Furthermore, you'd generally like to see...
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Sep 28, 2020
Today we're going to take a look at the well-established Okta, Inc. (NASDAQ:OKTA). The company's stock saw a...
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Sep 28, 2020
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
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Sep 28, 2020
If you really want to know which stocks the experts - and those in the know - are buying, pay attention to what they're doing. Stock reports, company reviews, and press statements are helpful, but you'll get significant information from watching what the insiders are up to.The insiders - the corporate officers and board members - have to disclose when they snap up shares to prevent any unfair advantages. Tracking their stock purchases can be a useful strategy because if an insider spends their own money on a stock, it could signal that they believe big gains are in store.So, investors looking for stocks that may be flying ‘under the radar,' but with potential to climb fast, watching for insider purchases identify some sweet market plays. To make that search easier, the TipRanks Insiders' Hot Stocks tool gets the footwork started - identifying stocks that have seen informative moves by insiders, highlighting several common strategies used by the insiders, and collecting the data all in one place.Fresh from that database, here are the details on three stocks showing ‘informative buys' in recent days.TravelCenters of America (TA)We'll start with a company that you probably don't think about often, but that does provide an essential service. TravelCenters of America is the largest publicly traded owner, operator, and franchisor of full-service highway rest stops in the US. TA started out operating truck stops for rest, repair, and maintenance, and has since expanded to full-service fueling stations offering both gasoline and diesel, fast-fo
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Sep 28, 2020
Yahoo Finance's Akiko Fujita breaks down the stocks to watch Monday.
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Sep 28, 2020
VICTORIA, BC, Sept. 28, 2020 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD.
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Sep 28, 2020
Winning the presidency in 2016 has brought Trump intense scrutiny that could end up undoing him.
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Sep 28, 2020
Morgan Stanley Analyst Adam Jonas joins the On the Move panel to discuss the latest with Tesla, and why its China sales may be non-existent by 2030.
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Sep 28, 2020
Morgan Stanley Analyst Adam Jonas joins the On the Move panel to discuss the latest with Tesla, and why its China sales may be non-existent by 2030.
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Sep 28, 2020
Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany's Allianz, one of the world's top asset managers, for failing to safeguard their investments during the coronavirus market meltdown. In March, Allianz was forced to shutter two private hedge funds after severe losses, prompting the wave of litigation the company says is "legally and factually flawed". The fallout has also prompted questions from the U.S. Securities and Exchange Commission, Allianz has said.
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Sep 28, 2020
Stocks are rebounding after four straight weeks of losses. Key Advisors Group LLC Co-Owner and Managing Partner Eddie Ghabour joins the On the Move panel to discuss.
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Sep 28, 2020
Many popular online high-yield savings accounts used to have really good rates, but they've been slashed significantly. Here's what to do to maximize your rates.
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Sep 28, 2020
If you are looking for the best ideas for your portfolio you may want to consider some of VGI Partners top stock picks. VGI Partners, an investment management firm, is bullish on CME Group Inc. (NASDAQ:CME) stock. In its FY 2019 investor letter - you can download a copy here - the firm discussed its […]
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Sep 28, 2020
Tom Essaye, Sevens Report Research Founder, joins Yahoo Finance's The First Trade with Alexis Christoforous and Brian Sozzi to discuss what's moving the markets on Monday morning.
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Sep 28, 2020
Sorrento Therapeutics (SRNE) has taken a unique approach to fighting the coronavirus. While most pharma companies taking the good fight to COVID-19 have focused their energies on one area, Sorrento has taken a more scatter gun approach. The biotech is developing a COVID-19 vaccine, a diagnostic test, an antibody test and has several therapeutic candidates.While it remains to be seen whether the varied method pays off, Dawson James analyst Jason Kolbert believes Sorrento might have a fan, who as they say, has some influence in high places.During a presidential press conference, "the president mentioned among promising therapeutics a monoclonal-antibody that is 70% effective," Kolbert said. "We spoke with Sorrento afterward and remain optimistic that the company's mAB is very effective (70%) and is progressing towards approval." Considering Trump has in the past suggested injecting bleach might be an apt treatment for COVID-19, it is open to debate whether such an endorsement amounts to a positive development. Either way, Sorrento has been making progress with its various programs.The company is working on an antibody cocktail that will be capable of providing 100% protection against a SARS-CoV-2 coronavirus infection, one which will remain effective even if the virus mutates.Kolbert believes that through the U.S.'s Project Warp Speed, the cocktail could get a fast track to commercialization.The target took a step closer to fruition on September 17, when Sorrento got the go ahead from the FDA to proceed with
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Sep 28, 2020
Yahoo Finance's Emily McCormick joins The First Trade with Alexis Christoforous to discuss what investors are keeping an eye on in early trading, in addition to Caesar's offer to acquire the betting company William Hill.
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Sep 28, 2020
Nio Inc - ADR (NYSE: NIO) shares were advancing Monday, buoyed by the electric automaker's announcements at a Chinese auto show over the weekend.Nio Parades Products, Services: At the Beijing International Auto Exhibition 2020, Nio displayed its EV models, including the EP9, an electric super car launched in 2016; the ES8, its six-seater flagship premium EV model; and the recently launched EC6 SUV.The company also showcased a Power Swap Station, three types of chargers, NIO Innovations and patents and NIO Life.As expected, the company announced an upgrade to its smart operating system to Nio OS 2.7.0.Nio Unveils New Driver Assistance Functionality: Nio also released its Navigate on Pilot feature, which automatically guides the car on ring roads and highways."This is the first NIO.com commercial application of high-definition map in China on the ADAS functionality of mass-produced vehicles, which further enhances NIO Pilot's capability," Nio said in a press release.The company plans to release the feature to users in batches through firmware over the air in October, along with the newest upgrade to its operating system. Nio announced 20 new features and function optimizations, including camera-based driver drowsiness detection, remote seat ventilation and 5.1 immersive surround sound mode.Nio's Faster Charging Options: Nio has added 20 kilowatt-hour DC chargers to the list of destination charging stations to accelerate charging speed in certain scenarios and expand destination
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Sep 28, 2020
Yahoo Finance's Andy Serwer joins The First Trade to highlight the link between President Donald Trump, Tesla, and Nikola.
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Sep 28, 2020
A recent New York Times report says that President Donald Trump's taxes show 'years of tax avoidance.' Stefanie Miller, FiscalNote Markets Managing Director, joins Yahoo Finance's The First Trade with Alexis Christoforous and Brian Sozzi to discuss the implications of the recent New York Times report and what it could mean for the 2020 presidential election.
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Sep 28, 2020
In the first half of 2020, many companies have cut back on their dividend payments, slashing or suspending them to conserve cash against the downturn. That trend appeared to reverse itself - or at least, to start to reverse itself - in August, when 13 companies announced dividend increases while only 2 announced cuts. Is this a signal that Q3 will show rebounding sentiment toward dividend and buyback policies? The recessionary pressure is easing; and dividends are a powerful attractor for cautious investors.Looking at the current situation from Evercore ISI, market strategist Dennis DeBusschere believes the worse is over, saying, "[A] sharp drop in cash returns is unlikely [in 2h20.]" He believes that companies will continue, albeit slowly, to restore both dividends and buyback policies - but cautions that investors should not expect a return to pre-pandemic levels for until at least 2022."Though a recovery back to pre-pandemic levels is not likely for at least two years, the negative impact on high cash return names and income strategies should continue to stabilize through year end," DeBusschere opined. Following DeBusschere's lead, Evercore's stock analysts have been tagging high-yield dividend payers as likely prospects for investors looking to buy in. According to the TipRanks data, these are Buy-rated stocks, with at least a 7% dividend yield and upwards of 10% upside for the year ahead. Columbia Property Trust (CXP)The first stock on today's dividend list is a real estate investment trust, Columbia
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Sep 28, 2020
Statistically speaking, long term investing is a profitable endeavour. But that doesn't mean long term investors can...
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Sep 28, 2020
VANCOUVER, BC and STUTTGART, Germany, Sept. 28, 2020 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced an agreement to collaborate with MAHLE, a leading international development partner and Tier 1 supplier to the commercial vehicle and automotive industry, on the development and commercialization of zero-emission fuel cell systems to provide primary propulsion power in various classes of commercial trucks.
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Sep 28, 2020
Citigroup raised its price target on Qualcomm (QCOM) stock on Monday to $132 (15.3% upside potential) from $108 citing strong earnings growth potential over the next year. Shares of the mobile chipset manufacturer were trading 1.7% higher in the pre-market trade today.Citigroup analyst Christopher Danely reiterated his Buy rating on Qualcomm. In a note to investors, Danely said that Qualcomm's earnings could increase 43% through 2021, way higher than the peer group average earnings growth of a mere 1%. The analyst believes that acceleration in deployment of 5G will mainly drive the company's bottom-line results.Notably, Qualcomm has been benefiting from a ramp-up in 5G-enabled chips. On July 29, it reported non-GAAP revenues of $4.89 billion, which surpassed analysts' expectations of $4.81 billion and came in above the mid-point of the company-guided range of $4.4-$5.2 billion. Qualcomm's adjusted EPS of $0.86 beat Street estimates of $0.72 and was well above the guidance range of $0.60-$0.80. (See QCOM stock analysis on TipRanks).Currently, the Street is cautiously optimistic on the stock. The Moderate Buy analyst consensus is based on 15 Buys and 8 Holds. With shares up nearly 30% year-to-date, the average analyst price target of $123.22 implies further upside potential of 7.6% from current levels.Related News: Boxlight Buys Audio-Visual Specialist Sahara For $94.9M Micron: Soft Memory Demand Spells Uncertainty Ahead Cleveland-Cliffs To Buy ArcelorMittal's US Operations For $1.4B More recent articl
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Sep 28, 2020
William Merritt became the CEO of InterDigital, Inc. (NASDAQ:IDCC) in 2005, and we think it's a good time to look at...
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Sep 28, 2020
Netflix is poised to continue minting money should it raise prices soon, as one analyst projects.
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Sep 28, 2020
The Ballard Power Systems Inc. (TSE:BLDP) share price has had a bad week, falling 12%. But that does not change the...
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Sep 28, 2020
The WW International, Inc. (NASDAQ:WW) share price has fared very poorly over the last month, falling by a substantial...
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Sep 28, 2020
TORONTO, Sept. 28, 2020 /CNW/ - Namaste Technologies Inc.
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Sep 28, 2020
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") above 18x, you may...
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Sep 28, 2020
Boxlight announced the acquisition of UK-based Sahara Presentation Systems, a specialist in AV (audio visual) solutions for £74 million ($94.9 million) on Friday. Boxlight shares jumped about 14.5% on Friday, following the deal, but are down 3.6% in pre-market trading on Monday.Per the terms of the deal, Boxlight (BOXL), an interactive technology solutions provider for the education market, will pay about $66.7 million in cash and the remaining $28.2 million in preferred stock to Sahara shareholders. The acquisition would include Sahara's renowned brands Clevertouch and Sedao.Boxlight's CEO Michael Pope said "The Sahara acquisition expands our geographic reach - particularly in the EMEA [Europe, the Middle East and Africa] region, provides significant revenue growth, results in immediate consolidated profitability, and adds tremendous global management talent." He added "The combined companies are generating greater than $100M in sales and are highly profitable." (See BOXL stock analysis on TipRanks)On Aug 17, Maxim Group analyst Jack Vander Aarde raised the price target on Boxlight stock to $4 (140.96% upside potential) from $2 and maintained a Buy rating on the shares. He believes that despite the COVID-19 headwinds, the company will benefit from the increased focus by school districts on digital education technologies for the upcoming school year. The analyst added that the company's recent partnership with Samsung is likely to facilitate new sales channels, customers, and geographies over the medium term.C
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Sep 28, 2020
(Bloomberg) -- Devon Energy Corp. agreed to acquire WPX Energy Inc. in a $2.56 billion all-stock deal, creating one of the largest independent U.S. shale producers and answering investor calls for consolidation at a time of crisis for the sector.The transaction, which includes a deal premium of about 2.6%, will see Devon shareholders own approximately 57 percent of the combined entity, the companies said Monday in a statement. Devon's stock jumped 13% in pre-market trading.The combination will create one of the biggest independent shale producers in the country, tying together two companies with sizable operations in the hottest part of the prolific Permian Basin, which straddles West Texas and southeastern New Mexico.U.S. shale company shareholders, frustrated after years of poor returns and missed targets, have long called for the industry to consolidate in order to cut costs, and some have advocated for low- to no-premium deals, just to get them across the finish line. The plunge in oil prices this year, which has left much of the industry unprofitable, has only added to the impetus for mergers and takeouts, particularly in the Permian, where scores of producers operate side by side."This deal makes strategic sense as Devon and WPX have proximate positions in the state line area of the Delaware Basin," Leo Mariani, an Austin-based analyst at KeyBanc Capital Markets Inc., wrote in a note after the merger talks were reported by the Wall Street Journal over the weekend. The Delaware is a sub-basin of the Perm
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Sep 28, 2020
Stock futures jumped Monday morning, following global equities higher, as the major indices looked to recuperate some of their losses over the past several weeks.
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Sep 28, 2020
* WELL Health has formed "WELL Health Allied Care Inc." (or "WELL Allied"), a new subsidiary primarily focused on operating, investing in and/or unlocking opportunities associated with allied health offerings such as physiotherapy, rehabilitation, occupational therapy, chiropractic, dietary, mental health counselling and sleep related services.
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Sep 28, 2020
VANCOUVER, BC, Sept. 28, 2020 /CNW/ - Great Bear Resources Ltd.
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Sep 28, 2020
CALGARY, AB, Sept. 28, 2020 /CNW/ - Inter Pipeline Ltd.
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Sep 28, 2020
On CNBC's "Mad Money Lightning Round," Jim Cramer said to a viewer he is right to buy Boeing Co (NYSE: BA). He likes it because American Airlines Group Inc (NASDAQ: AAL) got some money from the government, airlines are able to test people before they get on a plane and masks work in planes.It's not General Electric Company's (NYSE: GE) year, said Cramer. It has a very good turnaround plan, but it's not ready yet, he added. This time next year, it's going to be a much better stock, but a lot of people aren't that patient.Cramer feels like he had his call with Rocket Companies Inc (NYSE: RKT) and he is now ready to move on. He explained that there are a lot of people with short positions because they don't like the ownership structure.RedHill Biopharma Ltd (NASDAQ: RDHL) is a smart Israeli company, but Cramer would rather own Royalty Pharma plc (NASDAQ: RPRX).Cramer is worried about Walgreens Boots Alliance Inc (NASDAQ: WBA) because its prescription drug side and the front of the store are under attack. He doesn't know what could make it trade higher.Instead of Illumina, Inc. (NASDAQ: ILMN), Cramer would rather buy Thermo Fisher Scientific Inc. (NYSE: TMO) and Danaher Corporation (NYSE: DHR).Cramer likes Ping Identity Holding Corp (NYSE: PING).See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Mike Khouw Updates His Nike Options Trade * 'Fast Money' Picks For September 28(C) 2020 Benzinga.com. Benzinga does not provide investment advic
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Sep 28, 2020
NYSE | TSX: ACB EDMONTON, AB, Sept. 28, 2020 /CNW/ - Aurora Cannabis Inc.
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Sep 28, 2020
VANCOUVER, BC, Sept. 28, 2020 /CNW/ - Village Farms International, Inc.
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Sep 28, 2020
Shareholders in Novavax, Inc. (NASDAQ:NVAX) may be thrilled to learn that the analysts have just delivered a major...
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Sep 28, 2020
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...
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Sep 28, 2020
Amgen Inc.'s (NASDAQ:AMGN) price-to-earnings (or "P/E") ratio of 19.8x might make it look like a sell right now...
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Sep 28, 2020
(Bloomberg Opinion) -- After the troubles at Nikola Corp. you'd think stock market investors would have had their fill of startups that promise to revolutionize the trucking world.Yet this week another Texas-based truck electrification business, whose founder is even younger than Nikola's, is poised to go public. And once again a special-purpose acquisition vehicle (or SPAC) is in the driving seat and making piles of money.Hyliion Inc.'s 28-year-old chief executive officer, Thomas Healy, will become a paper billionaire — a fact that's sure to capture plenty of attention — as long as the shareholders of cash shell Tortoise Acquisition Corp. vote on Monday in favor of a merger with his company.A Carnegie Mellon mechanical engineering graduate, Healy doesn't spend a lot of time on Twitter and seems more modest than Nikola's boastful chairman Trevor Milton, who resigned last week after a scathing short-seller report raised awkward questions about his company.Unlike Milton, Healy isn't trying build an entire truck. Hyliion's main goal is to supply hybrid and electric propulsion systems that can be slotted into various manufacturers' existing heavy-truck models and thereby lower their emissions and the total cost of ownership.One can debate whether a truck component supplier that won't generate meaningful revenue until 2022 should be valued at about $7 billion, as it will be after the deal. But ignore the technology — and Healy's $1.5 billion anticipated net worth — for a second, and focus on the SPAC.Considering the limited financial risk
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Sep 28, 2020
The daughter of Esperanza Ugalde of Illinois filed in August what lawyers believe is the first wrongful death "take home" lawsuit, alleging her mother died of COVID-19 that her father contracted at Aurora Packing Co's meat processing plant. The cases borrow elements from "take home" asbestos litigation and avoid caps on liability for workplace injuries, exposing business to costly pain and suffering damages, even though the plaintiff never set foot on their premises. "Businesses should be very concerned about these cases," said labor and employment attorney Tom Gies of Crowell & Moring, which defends employers.
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Sep 28, 2020
(Bloomberg) -- Back in March, long before a short seller would raise questions about electric-truck company Nikola Corp. and hasten its founder's exit, early investors in the company were expressing concerns of their own.Those investors, led by mutual-fund giant Fidelity Investments, were worried that Trevor Milton, for all his brash visionary talk and Twitter braggadocio, lacked the ability that Elon Musk possesses to deliver these sorts of newfangled products to market. They lobbied successfully to remove him as CEO before the company's June IPO and for Milton's father to leave the board, according to people familiar with the matter. When the deal was done, Milton only held the title of chairman, the post he resigned this month.The back-room negotiations show that Milton's past was a concern to investors months before General Motors Co. executives placed a bet on the company in a $2 billion deal carved out after the IPO. They liked Milton's vision and his ability to raise cash and felt the venture was safeguarded from his shortcomings in operations by his push upstairs, say people familiar with the matter. Nonetheless, the events that have unfolded since the short-seller report, with Nikola's stock plunging amid a steady stream of negative headlines, have exposed just how high the risks still were.Now, it's up to former GM Vice Chairman Steve Girsky, whose blank-check company VectoIQ took Nikola public via reverse merger in June, and Nikola CEO Mark Russell to stabilize the business and regain investor
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Sep 28, 2020
(Bloomberg) -- HSBC Holdings Plc rose the most since 2009, recovering from a 25-year low, as its biggest shareholder raised its stake in a bet the embattled lender will return to paying dividends.China's Ping An Insurance Group Co., which last week bought 10.8 million shares to boost its stake to 8%, remains confident in HSBC's long-term prospects, a spokesperson said. The recent slump in the share and the valuation only increases HSBC's appeal, the spokesperson said."Ping An believes HSBC's suspension of dividend payments is a short-term issue and has been actively communicating with the lender about the possibility of restoring dividends in the future," the spokesperson said.HSBC shares in Hong Kong on Monday rose 9.2%, the biggest gain since April 2009, clawing back most of last week's tumble and adding $6.8 billion to its market capitalization. In London, HSBC rose as much as 11.5% -- also the most since April 2009. They were up 9% as of 10:55 a.m. local time, although they're still down by almost half this year.The bank last week plunged to a 25-year low in part on speculation its massive push into China could be thwarted. The ruling Communist Party's Global Times newspaper reported that the bank could be put on an "unreliable entity" list that aims to punish firms or individuals that damage national security. HSBC has rankled China over its participation in the U.S. investigation of Huawei Technologies Co.At the behest of U.K. regulators, the bank suspended its dividend payments earlier this year, a
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Sep 28, 2020
Top news and what to watch in the markets on Monday, September 28, 2020.
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Sep 28, 2020
(Bloomberg) -- Siemens Energy AG shares recovered after dipping as much as 13% on debut in Frankfurt, though the market value of the company whose technology is behind roughly one-sixth of the world's electricity remained below expectations.The shares were little changed at 11:45 a.m. in Frankfurt, hovering around the opening price of 22.01 euros. That represents a market capitalization of about 16 billion euros ($18.6 billion), compared with the 17 billion-euro net book value parent Siemens AG flagged ahead of the spinoff.Monday's listing is the latest step in the unwinding of Siemens -- a German conglomerate making a vast array of goods that spans medical scanners, locomotives and gas turbines -- into separate companies better suited to confront their own unique challenges.The sale is taking place at a time of transition toward greener energy sources, which could hit Siemens Energy's dominant coal and gas-turbine business and cloud the company's long-term growth prospects. There will be no shortage of hindrances ahead for the extraction, processing, and transportation of oil and gas, as well as the generation, transmission and distribution of power and heat that it handles."Siemens Energy's spinoff showcases a gas-turbine technology whose growth has been stunted by climate change, though gas should remain a key energy source," Johnson Imode, an industry analyst for Bloomberg Intelligence, wrote in a Sept. 23 report. He estimated Siemens Energy may be worth about 20 billion euros based on its g
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Sep 28, 2020
(Bloomberg) -- Margarita Louis-Dreyfus took another hefty dividend from the eponymous agricultural-commodity trading house she controls, as the billionaire continues to squeeze the business for cash.During the first six months of the year, Louis Dreyfus Co. paid a dividend of $302 million. The payout related to last year's profit, the sale of several assets in Canada and its former metals-trading business, according to the company's interim financial statement. The dividend reduced the company's equity to $4.48 billion at the end of June, down from $4.79 billion six months earlier.Louis-Dreyfus, who controls more than 96% of the holding company that owns LDC, has been taking big dividends over the past few years to help repay about $1 billion she borrowed to buy out other family members. The payouts, often surpassing the trading house's profit, have steadily reduced the company's value.The billionaire owner has been in talks to sell a minority stake in the company, recently holding negotiations with Abu Dhabi sovereign wealth fund ADQ. A successful deal would give the trading house an injection of much-needed cash.On top of its owner's troubles, the company has struggled over recent years, amid frequent management changes and declining earnings. Veteran Michael Gelchie will become chief executive officer later this week -- the seventh CEO appointed by Dreyfus in eight years -- replacing Ian McIntosh.Despite its recent travails, the first half of 2020 showed some improvement for LDC. Net
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Sep 28, 2020
(Bloomberg) -- He couldn't feed his family. Matilde Alonso knew it was true but couldn't believe it. The pandemic had just hit Guatemala in full force and Alonso, a 34-year-old construction worker, was suddenly jobless.He sat up all alone till late that night, his mind racing, and fought back tears. He had six mouths to feed, no income and no hope of receiving anything beyond the most meager of crisis-support checks -- some $130 -- from the cash-strapped government.Today, Alonso said, breakfast, lunch and dinner all look about the same in his house in El Jocotillo: maybe a tortilla with salt; maybe a tortilla with beans; maybe a bowl of rice and beans. "We used to eat meat. Now, there's no meat. We used to eat chicken. Now, there's no chicken. We used to drink milk. Now, there's no milk." Even bread, he said, is off the menu. For tens of millions like Alonso, the pandemic has exposed just how fragile economic status is worldwide. In many ways, nowhere has that been more apparent than in Latin America, where a resurgence of poverty is bringing a vicious wave of hunger in a region that was supposed to have mostly eradicated that kind of malnutrition decades ago. From Buenos Aires to Mexico City, families are skipping on meals and swapping fresh produce for starchy and sugary items. Even in Chile, a developing-world success story, some neighborhoods are turning to community cook-ups in a throwback to the dictatorship era of the 1980s.Latin America stands out because most of the region's governments don't have the financi
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Sep 28, 2020
Tesla Inc's (NASDAQ: TSLA) Chinese peers don't see the Elon Musk-led company's plan to bring out a $25,000 electric vehicle as a cause of major concern, Bloomberg reported Sunday from the Beijing Auto Show.What Happened: Xpeng Inc's (NYSE: XPEV) Vice Chairman Brian Gu said the company's mid-range EVs are already priced around the $25,000 mark and if Tesla raises its Shanghai plant's output to one million vehicles annually, it "means the market has grown so much faster and bigger than what we anticipated."Gu called Tesla a partner and pointed out the small size of the EV market, which is just 5% of the overall, saying, "We are accelerating that change and conversion."Freeman Shen, CEO of Baidu Inc (NASDAQ: BIDU)-backed WM Motor Co., pointed out the role Tesla is playing in driving the overall sector growth in China, according to Bloomberg.Shen likened the Palo Alto-based company to Apple Inc (NASDAQ: AAPL) in its early days. "[They] educate the whole market," he told Bloomberg.Nio Inc (NYSE: NIO) CEO William Li pointed towards the declining costs of batteries. "The overall battery cost decrease will help promote EVs. Our price tag is more than $60,000 and even in China we have a lot of work to do for this niche market," Li observed to Bloomberg.Why It Matters: Tesla had said it aims to produce a $25,000 fully-autonomous electric car within 3 years at its battery-day event held last week. The release of the car is synced with the commencement of the mass production of the company's new 4860 battery
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Sep 28, 2020
Sep.28 -- Siemens AG is unleashing a true behemoth that will be behind much of the world's electricity. Siemens Energy's listing marks the next step in the unwinding of the giant German conglomerate. Bloomberg's Oliver Sachgau reports on "Bloomberg Markets: European Open." (Corrects company name in description.)
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Sep 28, 2020
Shares in Aquestive Therapeutics (AQST) plunged 37% in Friday's after-hours trading after the U.S. Food and Drug Administration (FDA) issued a complete response letter (CRL) regarding the New Drug Application for Libervant (diazepam) Buccal Film for management of seizure clusters.The FDA issues a CRL to indicate that the review cycle for an application is complete but the application cannot be approved in its current form.In the CRL, the FDA cited that, in a study submitted by the company with the application, certain weight groups showed a lower drug exposure level than desired."The company intends to provide to the FDA additional information on PK modeling to demonstrate that dose adjustments will obtain the desired exposure levels" Aquestive stated.There were no other safety, clinical pharmacology/biopharmaceutics or CMC issues identified in the CRL.However, the FDA did also refer to a small number of protocol deviations in blood draws in one of the studies in the NDA.Aquestive believes that, based on discussions with the FDA, it will not need to conduct any further clinical studies to resolve these issues. It plans to request a Type A meeting with the FDA in the coming weeks and to resubmit the NDA before the end of 2020 with the adjusted dosage regimen for the identified weight groups at issue."While we are surprised by and disappointed with the Agency's decision, we remain committed to continuing to work with the FDA toward approval of Libervant to provide epilepsy patients wit
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Sep 28, 2020
Tesla Inc (NASDAQ: TSLA) has signed a five-year deal with Australia's Piedmont Lithium Limited (NASDAQ: PLL) for the supply of high-purity lithium ore, Reuters reported Sunday.What Happened: Under the agreement, the Elon Musk-led automaker would obtain a third of its requirement of 160,000 tonnes-per-year spodumene concentrate from Piedmont deposits based in North Carolina, according to Reuters.The two companies can reportedly extend the deal for another five years. The agreement mandates that the two companies agree to begin deliveries between July 2022 and July 2023, Piedmont told Reuters.Why It Matters: The Piedmont deal comes at the heels of the automaker's Battery Day, held last week, where Musk revealed that Tesla had received the rights to a 10,000 acre-land for lithium acquisition. At the same event, a new tabless battery design was also unveiled. The 4860 Battery Cell to be brought into high volume production in 2022 would allow electric vehicles to use fewer batteries and drive down manufacturing costs.Even so, demand for batteries remains so high that Tesla and its battery partners like Panasonic Corp (OTC: PCRFY), LG Chem Ltd (OTC: LGCLF), and CATL put together aren't enough to fulfill supplies, Musk tweeted before the battery day event. Panasonic is ramping up its battery production at the Nevada Gigafactory, which is likely to boost capacity at the site by 10%, according to a company executive.Price Action: Tesla shares closed nearly 5% higher at $407.34 o
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Sep 28, 2020
(Bloomberg) -- Caesars Entertainment Inc. said William Hill Plc's board would likely recommend its 2.9 billion-pound ($3.7 billion) takeover offer price, giving it an edge over rival suitor Apollo Global Management Inc.The British gambling group confirmed it received approaches from both U.S. companies after Bloomberg reported Apollo's interest on Friday. William Hill shares fell 12% to 273.7 pence as of 9:13 a.m. on Monday as investors reined in expectations of a hefty counterbid by the private equity firm.Caesars' power over an existing joint venture with William Hill "makes rival offers unlikely," said Goodbody analyst Gavin Kelleher. Some people may see Caesars' offer price of 272 pence per share "as a somewhat disappointing outcome," he added. The bid represents a 25% premium over William Hill's closing price before the takeover interest emerged.Caesars and William Hill have a U.S. joint venture with 20% and 80% equity ownership respectively. The two were already in discussions about merging some of their operations in the U.S., where the British bookmaker is looking to expand following the legalization of sports betting by the Supreme Court in 2018.Caesars said the joint venture "needs to be broadened in scope in order to fully maximise the opportunity in the sports betting and gaming sector."However, it warned it could pull out of some of the partnerships with William Hill if it loses the battle with Apollo. That would risk blocking the British company's access to the crucial American market. Caesars' statemen
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Sep 28, 2020
(Bloomberg) -- Siemens Energy AG shares declined on debut in Frankfurt, giving the company whose technology is behind roughly one-sixth of the world's electricity a lower-than-expected market value.The shares trimmed a drop of as much as 13% to trade down 1.2% to 21.75 euros at 10 a.m. in Frankfurt, after opening at 22.01 euros. That gave the company a market capitalization of around 15.8 billion euros ($18.4 billion), compared with the 17 billion-euro net book value parent Siemens AG gave it ahead of the spinoff.Monday's listing is the next step in the unwinding of Siemens -- a German conglomerate making a vast array of goods that spans medical scanners, locomotives and gas turbines -- into separate companies better suited to confront their own unique challenges.The sale is taking place at a time of transition toward greener energy sources, which could hit its dominant coal and gas-turbine business and cloud the company's long-term growth prospects. There will be no shortage of hindrances ahead for the extraction, processing, and transportation of oil and gas, as well as the generation, transmission and distribution of power and heat that Siemens Energy handles."Siemens Energy's spinoff showcases a gas-turbine technology whose growth has been stunted by climate change, though gas should remain a key energy source," Johnson Imode, an industry analyst for Bloomberg Intelligence, wrote in a Sept. 23 report. He estimated Siemens Energy may be worth about 20 billion euros based on its guidance for
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Sep 28, 2020
(Bloomberg) -- Billionaires have Davos. For filmmakers, there's Sundance. For the people who mine and trade and ship everything from iron ore to platinum, there's London Metal Exchange Week. It's a blur of symposiums and drinks, with a reliably lavish lunch thrown by JPMorgan Chase & Co. On a balmy October day in 2018, hundreds of guests crossed a courtyard in the shadow of the Bank of England to a medieval guild hall for champagne and sashimi courtesy of the bank and its top metals trader, Mike Nowak.Nowak had plenty to celebrate. His global trading desk at JPMorgan was the powerhouse in futures contracts for gold, silver, platinum and palladium that account for tens of trillions of dollars in transactions annually. In his mid-40s, Nowak had run the precious metals desk for more than a decade. He had a young family, a house outside Manhattan and a seven-bedroom vacation home a few blocks from the beach in New Jersey.But that world was unraveling. Unbeknown to Nowak, one of his former employees was turning on him.That same day, the sun was barely up in Brooklyn when a trader named John Edmonds set off for a meeting with federal prosecutors. Edmonds, who'd worked for years on Nowak's desk, took a four-hour car trip to Hartford, Connecticut, where he told authorities that Nowak's crew wasn't just buying and selling precious metals, but systematically cheating to help themselves and their top clients. Edmonds admitted to fraudulent trades that day in a sealed guilty plea. Soon, others from the precious me
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Sep 28, 2020
(Bloomberg) -- Cleveland-Cliffs Inc. will buy the U.S. operations of ArcelorMittal SA for $1.4 billion in cash and shares to become the biggest flat-rolled steel producer in North America.Ohio-based Cleveland-Cliffs expects its second major deal in less than a year to boost sales to the key automotive market. Earlier this year, the global steel industry saw its biggest slump in production in a decade as demand from key consumers, including automakers, was hit hard by coronavirus lockdowns. The transaction will save the combined entity about $150 million in annual costs."Steelmaking is a business where production volume, operational diversification, dilution of fixed costs, and technical expertise matter above all else," Cleveland-Cliffs Chairman Lourenco Goncalves said in a statement. "This transaction achieves all of these."Cleveland-Cliffs will pay about $873 million of common and non-voting preferred stock, and $505 million in cash, according to the statement. The deal comes as U.S. steel prices recover, driven by tightening supply after lockdowns hurt demand.Read more: Steel Price Hikes Signal More Supply Squeeze than Demand SurgeIn March, Cleveland-Cliffs acquired AK Steel, an automotive and industrial-parts maker valued at $3 billion. The miner finished the deal after raising $725 million in a junk-bond sale.ArcelorMittal plans to use $500 million of the cash proceeds to repurchase shares, starting immediately, the company said in a separate statement. In July the company was considering "structur
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Sep 28, 2020
Sep.28 -- Democratic Presidential nominee Joe Biden zeroed in on the risk to Americans' health-care coverage if conservative favorite Amy Coney Barrett is confirmed as President Donald Trump's new Supreme Court pick. She would replace the most progressive member of the Supreme Court, Justice Ruth Bader Ginsburg, who died on Sept. 18. Biden spoke Sept. 27 in Wilmington, Delaware.
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Sep 28, 2020
Huawei Technologies Chief Financial Officer Meng Wanzhou will be back in a Canadian courtroom on Monday as her lawyers resume their fight to block the United States' efforts to extradite her. Meng, 48, was arrested in December 2018 on a warrant from the United States charging her with bank fraud for misleading HSBC about Huawei's business dealings in Iran and causing the bank to break U.S. sanction law. Huawei lawyers will argue that the U.S. extradition request was flawed because it omitted key evidence showing Meng did not lie to HSBC about Huawei's business in Iran.
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Sep 28, 2020
Shares of Boeing rose 6.8% on Friday as the US Federal Aviation Administration (FAA) Chief is about to pilot the 737 MAX on a test flight this week, Reuters reported. The move is seen as an important milestone to get the troubled aircraft airborne again.According to the Reuters report, the FAA has informed US lawmakers that the agency's Chief Administrator Steve Dickson and Deputy Administrator Dan Elwell "will be in Seattle next week to take the recommended training." Notably, Dickson had previously said that he would not give approval until he flew the MAX aircraft himself. (See BA stock analysis on TipRanks).Boeing's (BA) 737 MAX planes have been grounded worldwide since mid-March 2019 following two fatal crashes within six months, which took 346 lives. Boeing needs regulatory approvals for the changes it has made to address the flaws that caused the accidents.On Sept. 20, Goldman Sachs analyst Noah Poponak added the stock to his "Conviction List" and reiterated a Buy rating on the stock with a price target of $225 (44.2% upside potential). Poponak believes that despite the current challenging aircraft demand and supply environment, Boeing's order backlog is "still robust."Currently, the rest of the Street is cautiously optimistic on the stock. The Moderate Buy analyst consensus is based on 7 Buys, 8 Holds, and 1 Sell. With shares down over 52% year-to-date, the average analyst price target of $193 implies upside potential of 23.7% from current levels.Related News: Raytheon Wins $212.8M US Missile Contract F
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Sep 28, 2020
Japan is the world leader in battery innovations holding more than one-third of the total patents in this space, according to a joint study conducted by the European Patent Office and the International Energy Agency.What Happened: The study found that 2,339 Japanese applications for international patents were published in 2018, the highest of any country, the Financial Times reported Sunday. South Korea holds the second spot with 1,230 patents. The report stated that almost 45% of battery cell patents in 2018 were related to lithium-ion cells used in smart devices. Trailing Japan and South Korea, the 38 countries that are a part of the European Patent Convention rank third followed by China in the fourth sport and the U.S. ranking fifth.Samsung Electronics Co Ltd (OTC: SSNLF) topped the leaderboard with 4,787 patent filings between 2000 to 2018, followed by Panasonic Corporation (OTC: PCRFY) with 4,046.Why Does It Matter: Designing new and improved batteries could be crucial given the growing impetus for electric vehicles as well as next-generation smart devices.A Nikkei Asian Review report suggested last month that the market for rechargeable batteries could exceed $25 billion by 2035. However, Elon Musk, CEO of Tesla Inc (NASDAQ: TSLA), thinks that the electric vehicle maker may still end up facing a shortfall when its high-volume production begins in 2022. Musk expressed concerns that there could be battery shortage even if all suppliers work at full
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Sep 28, 2020
(Bloomberg) -- U.S. and European equity-index futures gained on Monday along with stocks in Asia as China's ongoing economic recovery countered some of the concerns sparked by rising global coronavirus cases.The dollar dipped and the yen ticked up. The Aussie rose after an influential economist walked back his call for an interest-rate cut to November from October. S&P 500 futures gained after the gauge advanced on Friday, while shares climbed in Seoul, Tokyo and Hong Kong. Euro Stoxx 50 contracts were up almost 2%. Crude oil slipped, while Treasuries were little changed.China Evergrande Group's shares rose along with its bonds after the firm attempted to revive confidence in its finances. HSBC Holdings Plc advanced the most in Hong Kong trading since 2009 after the bank's biggest shareholder added to its stake in the embattled lender.Global equities remain on course for the first month of losses since March, amid mounting risks to the economic recovery from fresh coronavirus waves and stalling fiscal relief in the U.S. One of the brighter spots is China, where data over the weekend showed profits at industrial companies grew for a fourth consecutive month in August."The data augurs well for the China growth story," said Stephen Innes, global markets strategist at AxiCorp.At the same time, tension between Beijing and Washington continues to simmer. President Donald Trump's ban on TikTok was temporarily blocked by a federal judge, dealing a blow to the government in its showdown with the popular Chi
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Sep 28, 2020
Sep.28 -- Ram Parameswaran, founder and portfolio manager at Octahedron Capital Management, discusses the sale of ByteDance Ltd.'s U.S. operation to Oracle Corp. and Walmart Inc. and a federal judge blocking President Donald Trump's ban on TikTok. He speaks on "Bloomberg Markets: Asia."
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Sep 28, 2020
Sep.28 -- Manny Maceda, worldwide managing partner at Bain & Co., discusses the company's report on the lessons learned from the pandemic and the future of work post-coronavirus. He speaks on "Bloomberg Markets: Asia."
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Sep 28, 2020
(Bloomberg) -- Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China's largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC's stock there retreated as much as 6.6% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present "an unacceptable risk of diversion to a military end use," the department's Bureau of Industry and Security wrote.Read more: U.S. Imposes Restrictions on Exports to China's Top ChipmakerThe U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as those imposed on China's Huawei Technologies Co. Still, the ruling against the chipmaker marks a further escalation in the tensions between the world's two most powerful countries that have already ensnared other Chinese tech companies including ByteDance Ltd. and Tencent Holdings Ltd."The restriction, once implemented, will severely damage SMIC's existing and future manufacturing capabilities, and customer trust," Bernstein analysts led by Mark Li wrote in a note. "Without steady supply and service from the U.S., the yield and quality of SMIC's capacity will degrade, as early as in a few months for more advanced nodes."SMIC has not received an of
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Sep 28, 2020
(Bloomberg) -- HSBC Holdings Plc rose the most in Hong Kong trading since 2009, recovering from a 25-year low, as its biggest shareholder raised its stake in a bet the embattled lender will return to paying dividends.Ping An Insurance Group Co., which last week bought 10.8 million shares to boost its stake to 8%, remains confident in HSBC's long-term prospects, a spokesperson said. The recent slump in the share price and valuation only increases HSBC's appeal, the spokesperson said. "Ping An believes HSBC's suspension of dividend payments is a short-term issue and has been actively communicating with the lender about the possibility of restoring dividends in the future," the spokesperson said.HSBC shares on Monday rose as much as 8.5%, the biggest intraday gain since April 2009, clawing back some of last week's 8.9% loss. They were up 7.8% to HK$30.40 as of noon in Hong Kong.The bank had plunged to 25-year low in part on speculation a massive bet on China could be thwarted. The ruling Communist Party's Global Times newspaper reported that the bank could be put on an "unreliable entity" list that aims to punish firms, organizations or individuals that damage national security. It has rankled China over its participation in the U.S. investigation of Huawei Technologies Co.At the behest of U.K. regulators, the bank suspended its dividend payments earlier this year."Ping An's investment is giving a little reason for the gain today, but HSBC's problems are still there," Steven Leung, an executive director of Uob
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Sep 28, 2020
Spot gold was up 0.1% at $1,861.16 per ounce by 0703 GMT. U.S. gold futures were down 0.3% at $1,861.60. "Gold is going to be driven by the tenor of the U.S. dollar," said Stephen Innes, chief market strategist at AxiCorp.
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Sep 28, 2020
Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year.
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Sep 28, 2020
Turkish cherries are being sold at 20% of the cost of those grown in Michigan. It's like buying a loaded, full-sized import pickup for $10,000.
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