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U.S. oil state senators to talk crude markets with Saudi officials Saturday: source

Republican U.S. senators who have introduced a bill that would remove U.S. defense systems and troops in Saudi Arabia unless it cuts oil output will hold a call with the kingdom’s officials on Saturday, a source familiar with the planning said on Tuesday. Senators Kevin Cramer and Dan Sullivan will hold a call with the officials two days after a scheduled OPEC+ meeting in which Saudi Arabia and Russia are expected to agree an output cut. The two countries have been pumping oil flat out beginning last month in a race for market share. …read more […]

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Roku: Covid-19 to Impact Ad Revenue, Top Analyst Reduces Estimates

Bear markets are usually bad news for growth stocks. As sentiment in the market changes, these hotshots often tend to crash harder. Roku (ROKU) is a good case in point. Following a massive run up in 2019, the stock shed 34% of its share price year-to-date. In mid-March, the stock was down as much as 55%, so if you sold there, you sold at the bottom.The severe drop is a tad surprising, as during these stay-at-home times, Roku should be one of the few names to reap the rewards of extra engagement on its platform. However, most companies have suffered …read more […]

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Morgan Stanley Among Biggest Lenders to Embattled Luckin Founder

(Bloomberg) — Morgan Stanley, Credit Suisse Group AG and Haitong International Securities Group were among the biggest participants in a series of margin loans to Luckin Coffee Inc.’s founder before accounting fraud allegations at the high-flying Chinese company triggered a collapse in the stock and caused him to default, a person with knowledge of the matter said.The banks were part of a group that extended margin debt to Luckin Chairman Lu Zhengyao across three funding rounds, said the person, who asked not to be identified as the matter is private. Haitong put up $140 million, while Morgan Stanley and Credit …read more […]

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Cleveland-Cliffs Inc (CLF): Hedge Funds Are Snapping Up

Coronavirus is probably the 1 concern in investors’ minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […] …read more […]

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Boeing making new 737 MAX software updates to address computer issue

Boeing Co said late on Tuesday it will make two new software updates to the 737 MAX’s flight control computer as it works to win regulatory approval to resume flights after the jet was grounded following two fatal crashes in five months. The planemaker confirmed to Reuters that one issue involves hypothetical faults in the flight control computer microprocessor, which could potentially lead to a loss of control known as a runaway stabilizer, while the other issue could potentially lead to disengagement of the autopilot feature during final approach. Boeing said the software updates will address both …read more […]