Month: August 2020

OPEC on Wednesday said world oil demand will fall more steeply in 2020 due to the coronavirus pandemic and said next year’s recovery faces large uncertainties, pointing to growing headwinds for the group and its allies in supporting the market. World oil demand will fall by 9.06 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report, more than the 8.95 million bpd decline expected a month ago. “Crude and product price developments in the second half of 2020 will continue to be impacted by concerns over a second …read more […]

If you’re looking at a mature business that’s past the growth phase, what are some of the underlying trends that pop… …read more […]

Microsoft is finally launching its much-anticipated return to the smartphone market with its new Surface Duo, a dual-screen foldable phone. …read more […]

Every investor in Enphase Energy, Inc. (NASDAQ:ENPH) should be aware of the most powerful shareholder groups… …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 […]

How far off is Cisco Systems, Inc. (NASDAQ:CSCO) from its intrinsic value? Using the most recent financial data, we’ll… …read more […]

Lawmakers are near agreement on how to revamp the Paycheck Protection Program. But it may not be enough to help small businesses shut out of previous rounds of the government loans. …read more […]

Warren Buffett has come to the dark side.
If there were ever a way to cheat in stocks, the Oracle has found it… and tapped into it in a way like never before.
He just dumped a record $5.1 billion into this “trick.”
We predict it’s going to make him a very rich man.
Here’s the best part… By tracking just one simple metric, you can join him.
The Only Thing Worth Buying?
We’ve written about share buybacks a fair amount in these essays. As we told Manward Letter readers when we recommended a buyback stalwart in a recent issue, they’re the supercharger that makes …read more […]

(Bloomberg) — A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company — known also as Foxconn — …read more […]

Solid operational results from achieving scale of cultivation and store footprint, provides industry leading free cash flow this quarterTALLAHASSEE, Fla., Aug. …read more […]

Stock investor Zhu Haifeng halved his once-cherished holdings in Chinese tech giants Tencent and Alibaba after the United States announced on Friday sanctions against some Chinese firms in the latest escalation between the world’s two top economies. The move followed U.S. President Donald Trump’s announcement of a sweeping ban on U.S. transactions with Tencent Holdings , the Chinese owner of messaging app WeChat, and Bytedance, which owns the video-sharing app TikTok, citing national security threats. Tencent now only represents 10% of his portfolio, having accounted for 40% at the peak of his purchases in the company which began …read more […]

(Bloomberg) — Tencent Holdings Ltd. boosted revenue at the fastest pace in two years, defying an economic downturn in China as it prepares to face a ban on its WeChat messaging app by U.S. President Donald Trump.Sales rose 29% to 114.9 billion yuan ($16.5 billion) in the three months ended June, beating estimates with a surge in online gaming revenue. It reported net income of 33.1 billion yuan that beat the highest of analysts’ projections, thanks to a gain of more than 8.6 billion yuan from asset disposals and valuation gains in its portfolio of investments. Shares in Prosus NV, …read more […]

Top news and what to watch in the markets on Wednesday, August 12, 2020. …read more […]

(Bloomberg) — Oil climbed to near a five-month high after an industry report pointed to a third straight weekly drop in American crude stockpiles.Futures in New York rose past $42 a barrel after losing 0.8% Tuesday. The American Petroleum Institute reported inventories fell by 4.01 million barrels last week, according to people familiar with the data.The improving picture in the U.S. overshadowed anxiety over the still-surging coronavirus. India’s oil product consumption was still down 12% compared to a year earlier in July, as the nation continues to grapple with the virus, while New Zealand’s largest city went back into lockdown.Oil …read more […]

Cybersecurity firm Avast said on Wednesday it expected full-year organic revenue to grow at the upper end of its forecast after a strong first half, underpinned by the work-from-home trend. Shares in Avast, which joined the FTSE 100 index in June and touched an all-time high of 604.5 pence last month, were trading 5% lower in early deals at 569 pence. Chief Executive Ondrej Vlcek said Avast performed strongly in the half, aided by increased demand for its anti-virus, privacy and performance software driven by people working from home during the COVID-19 pandemic. …read more […]