Asia shares were poised to track a Wall Street tumble on Tuesday after U.S. crude futures turned negative for the first time in history, crushed by a spectacular collapse in oil demand as the coronavirus pandemic derails the global economy.
Qualcomm (QCOM), the world’s largest mobile chipmaker, hasn’t had an easy ride in 2020. Of course, you can say that about an ever-growing number of companies, but the semiconductor giant’s large exposure to China and accompanied uncertainty concerning Apple’s 5G enabled phone launch, has seen it underperform its peer group.But according to Tigress Financial’s Ivan Feinseth, there’s no need to ring the alarm bells. In fact, the 5-star analyst argues, there are numerous short- and long-term drivers for Qualcomm, that its “leadership position in the global high-speed 5G network rollout will overcome any near-term COVID-19 pandemic-related weakness.” Accordingly, the 5-star …read more […]
A special committee of WeWork board members on Monday rejected an assertion by SoftBank Group Corp that it does not have authority to represent the interests of minority shareholders of the office-sharing startup.
Virgin Australia Holdings Ltd said on Tuesday it entered voluntary administration to recapitalise the business and emerge in a stronger financial position after being battered by the coronavirus crisis and a high debt load.
Brazil’s government is discussing with the country’s main airlines further reducing a minimal flight schedule implemented due to the coronavirus crisis as travel demand remains close to zero, three sources told Reuters.
U.S. crude oil jumped more than $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
The U.S. energy industry has asked the Federal Reserve to change the terms of a $600 billion lending facility so that oil and gas companies can use the funds to repay their ballooning debts, according to a letter seen by Reuters.
(Bloomberg) — Oil rebounded in early Asia trading after plunging below zero for the first time in history but remained deep in negative territory as the U.S. benchmark’s May contract entered its final trading session.Crude for May delivery rose more than $20 to minus $16.10 a barrel, after sinking to as low as minus $40.32 a barrel during Monday’s jaw-dropping collapse. With the coronavirus pandemic bringing the U.S. economy to a standstill, refiners are using far less crude, leaving so much unused oil sloshing around that American energy companies are running out of room to store it. And if there’s …read more […]
The U.S. Congress inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus pandemic, with House Speaker Nancy Pelosi saying she expected an agreement on Monday as the Senate set a Tuesday session for a potential vote on it.
U.S. crude oil jumped over $20 per barrel on Tuesday but still traded below $0 after plunging into negative territory for the first time in history, dragged down by a supply glut and sagging demand for crude due to the coronavirus pandemic.
Stock futures kicked off the overnight session slightly higher and June contracts for domestic crude oil recovered some losses after Monday’s sharp declines. …read more […]
I’ll admit, I may not be the most suited to recognize what’s “normal.”
I’ve been publicly described as awkward. (And that’s by my employer!)
But I can tell you this: Something doesn’t feel right.
The markets appear alien to me right now. I’m talking “the Bug from Men in Black walking around in its Edgar suit” kind of alien.
Sure, the markets are trying to pass as normal. But the way they are moving is jerky and unnatural.
And that’s why I believe this is potentially one of the most dangerous market stretches for investors.
Apocalypse: Then
Bear markets don’t end with investors in a three-point stance.
Bear …read more […]
Today, Income Expert Marc Lichtenfeld examines the recent insider trading scandal — that’s insider buying or selling — surrounding Senator Richard Burr. He allegedly sold shares in response to insider knowledge about COVID-19’s likely impact on stocks he owned.
The truth is, people with insider knowledge about the market often use that information to enrich themselves through insider buying or selling. But most of the time, if this trading is done legally, there’s actually a way that you can track their behavior.
Me: Can this Congress be any more unlikable?
Sen. Richard Burr: Hold my beer.
If you’re unfamiliar with the “hold …read more […]
International Business Machines Corp’s clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew its 2020 annual forecast.
General Electric Co entered into a revolving credit agreement for $15 billion, according to a regulatory filing on Monday.
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