Month: August 2020

(Bloomberg) — Sea Ltd., the Singapore-based internet company backed by Tencent Holdings Ltd., said revenue doubled in the second quarter, driven by strong growth at e-commerce platform Shopee and gaming arm Garena.Its stock gained about 8.6% in pre-market trading in New York after reporting total revenue rose to $882 million in the three months ended June. Its net loss widened to $393 million from $280 million.The robust topline numbers underscore how Sea became the world’s best-performing large-cap stock over the 18 months to August, stoking debate over whether the gaming, e-commerce and payments company is the next internet colossus or …read more […]

Sales were still down significantly, but the retailer bounced back from a big first-quarter loss. …read more […]

Sales tail off at Walmart in the wake of stimulus funds running out. …read more […]

Dwight Egan is the CEO of Co-Diagnostics, Inc. (NASDAQ:CODX), and in this article, we analyze the executive’s… …read more […]

Even when a business is losing money, it’s possible for shareholders to make money if they buy a good business at the… …read more […]

Walmart posted better-than-expected earnings across the board. …read more […]

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(Bloomberg) — Sea Ltd., the Singapore-based internet company backed by Tencent Holdings Ltd., said revenue doubled in the second quarter, driven by strong growth at e-commerce platform Shopee and gaming arm Garena.Total revenue rose to $882 million in the three months ended June from $436.2 million a year earlier, the company said in a statement on Tuesday. Net loss widened to $393 million from $280 million.The robust topline numbers underscore how Sea became the world’s best-performing large-cap stock over the 18 months to August, stoking debate over whether the gaming, e-commerce and payments company is the next internet colossus or …read more […]

Top news and what to watch in the markets on Tuesday, August 18, 2020. …read more […]

Investors are their “most bullish” on financial markets since February, when world stocks hit a record high, a Bank of America fund manager survey showed, as hopes of a COVID-19 vaccine and a steady revival of economic activity boost confidence. A net 46% of investors surveyed by BofA said “it’s a bull market”, up from 40% the previous month. A secular bull market is one where the prevailing trend is for higher prices, with short corrections interrupting it. …read more […]

China accused Washington of damaging global trade with sanctions that threaten to cripple tech giant Huawei and said Tuesday it will protect Chinese companies but gave no indication of possible retaliation. Rules confirmed Monday by the Commerce Department block suppliers from using U.S. technology to produce processor chips and other components for Huawei. The company, China’s first global tech competitor, is the biggest supplier of switching equipment for phone companies and a leading smartphone brand. …read more […]

(Bloomberg) — China, the world’s biggest oil importer, has ramped up purchases of American crude in the lead-up to a highly-anticipated review of the trade deal between the two economic powerhouses.As much as 14 million barrels — or seven super-class tankers full — of U.S. oil will be loaded next month for delivery to China, according to estimates by Vortexa Ltd. based on provisional tanker bookings. If all those shipments make the trip that will be more than double the volumes set for August.The surge in bookings comes before a review of the phase-one trade deal, under which China pledged …read more […]

(Bloomberg Opinion) — A new U.S. edict limiting Huawei Technologies Co.’s access to technology is more than just an incremental measure against the Chinese telecommunications giant. It threatens to kill the company, which invites retaliation from Beijing.In May, the administration of President Donald Trump mandated that manufacturers globally couldn’t use American technology to produce chips designed by Huawei.At first, that also threatened chief supplier Taiwan Semiconductor Manufacturing Co., until it became clear that a legal workaround was available: Let Huawei buy chips that it didn’t design. As a result, Taiwan’s MediaTek Inc. stepped into the breach and quickly became the …read more […]

(Bloomberg) — Oracle Corp. has held preliminary talks with ByteDance Ltd. on a potential bid for part of TikTok’s business, seeking to rival Microsoft Corp. in the race to acquire the viral video streaming app, the Financial Times has reported.The company controlled by billionaire Larry Ellison is working with TikTok’s U.S. investors including General Atlantic and Sequoia Capital to consider a bid for the app’s operations in the U.S., Canada, Australia and New Zealand, the FT said, citing people briefed on the matter.The entry of Oracle could challenge Microsoft’s bargaining position, as the Redmond-based company had been the only party …read more […]

Is gold starting another leg higher, or is this a news-driven (Warren Buffet – Barrick Gold) Bull Trap before the next decline? The next 48-hours are crucial. …read more […]