Month: October 2020

It looks like MetLife, Inc. (NYSE:MET) is about to go ex-dividend in the next four days. Investors can purchase shares… …read more […]

Cash flow for its industrial operations was $514 million in the third quarter, compared with the average analyst estimate of an outflow of $876 million. GE has laid out plans to cut $2 billion in costs, a great deal of which is at the aviation unit. Revenue at GE’s aviation unit fell 39% in the quarter compared with last year, while in the power business it rose 3%. …read more […]

ExxonMobil (NYSE: XOM) has outlined that it is undertaking ‘thorough and thoughtful’ assessments as it seeks to make its organization more efficient and nimbler. …read more […]

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(Bloomberg) — Oil retreated back below $39 a barrel after an industry report pointed to a bigger-than-expected increase in U.S. crude stockpiles, offsetting supply disruptions from Hurricane Zeta.The American Petroleum Institute reported crude inventories expanded by 4.58 million barrels last week, while gasoline stockpiles rose for a second straight week, according to people familiar with the data. Official government figures are due Wednesday. A stronger U.S. dollar is also having an impact, making commodities priced in the currency less appealing to investors.Oil rallied on Tuesday after almost half of U.S. Gulf output was shuttered ahead of Zeta, which is expected …read more […]

(Bloomberg) — Sony Corp. raised its fiscal-year operating profit outlook by 13% to 700 billion yen ($6.7 billion) as its video game unit rode a surge in demand for entertainment from home-bound consumers.The forecast, up from a previous 620 billion yen, surpassed the average analyst expectation of 658.9 billion yen and precedes the PlayStation 5’s highly anticipated November debut. Sony aims to sell more than 7.6 million PS5 units by the end of March, more than the PS4 managed in its first year, Chief Financial Officer Hiroki Totoki said.Sony’s outlook hike underscores how the entertainment giant is benefiting from a …read more […]

(Bloomberg) — U.S. and European equity futures fell and Asian stocks were mixed Wednesday amid concern about the impact of the worsening pandemic on economic activity in some parts of the world. The dollar advanced.S&P 500 futures retreated and European contracts were down about 2%. Shares dropped in Japan but rose modestly in China and South Korea. Microsoft Corp. shares slipped in extended trading as a forecast for revenue in some divisions fell short of the highest analysts’ projections.China’s yuan was steady as traders digested news that the nation’s banks abandoned inclusion of a key factor used to calculate the …read more […]

VANCOUVER, BC, Oct. 28, 2020 /CNW/ – Africa Energy Corp. …read more […]

(Bloomberg) — Few initial public offerings have aroused more anticipation than the blockbuster listing of Jack Ma’s Ant Group Co.Demand for the record $34.5 billion IPO has been so strong this week that Ant decided to stop taking orders from big investors a day earlier than planned. In Shanghai, initial bids exceeded supply by more than 280 times. Some mom-and-pop investors in Hong Kong are taking on 20 times leverage to supercharge their bets.Still, a smash-hit IPO doesn’t always translate into a long-term winner for investors. In Ant’s case, what could go wrong?Here are some of the biggest risks:RegulationAnt’s meteoric …read more […]

(Bloomberg) — Deutsche Bank AG raised the outlook for the investment bank after its debt traders snapped a long streak of losing market share with a Wall Street-beating result that more than offset weakness in the corporate bank.Income from trading fixed-income securities and currencies at Germany’s largest lender rose 47% in the third quarter, compared with an average of 25% for the five biggest U.S. investment banks. Among the large investment banks have reported earnings so far, only Goldman Sachs Group Inc. did better with a 49% increase. Overall, results topped estimates with the bank posting an unexpected profit of …read more […]

Operating income at the film and TV division of Japanese entertainment and electronics giant Sony slipped to $299 million for the three month period from July to end of September 2020, compared to $366 million in the equivalent period last year. At group level the Japanese giant reported largely unchanged revenues of JPY2.11 trillion for […] …read more […]

Apple (AAPL) will report FQ4 earnings on Thursday evening in what will as per usual be one of earnings season’s highlights. This September quarter’s results, however, will have a different flavor, due to the well-publicized delay to the new iPhone’s release. An issue Deutsche Bank analyst Jeriel Ong believes will be on investors’ minds when Apple releases its quarterly financial results.“We expect a solid Sept-qtr report from AAPL, but see investors overlooking any recent strength/weakness and focusing on the Dec-qtr given the recent iPhone release and impact on guidance and the Mar-qtr beyond, as this is the first time that …read more […]

Back in April, Deutsche Bank analyst Michael Linenberg forecast that by 4Q20, American Airlines (AAL) will be will generating 65% of 4Q19’s revenue – i.e. a year-over-year revenue decline of 35%. But making any forward predictions in 2020 has been a thankless task, as Linenberg now admits: “What did we really know in April as we were attempting to make a fair assessment of the industry at the depths of the downturn?”Since then it has become clear that this target was too optimistic. Linenberg now expects December quarter revenue to contract by as much as 65%.Although the figure is a …read more […]

Many companies will be eager to put 2020 behind them and surely so will Boeing (BA). The A&D giant had issues to contend with prior to the viral outbreak, but these were exacerbated by COVID-19’s ruinous impact on the airline industry.Reduced long-term commercial jet demand, aircraft delivery cancellations, terrible earnings and a scathing verdict from Congress for the design mistakes that led to the two deadly crashes of Boeing’s grounded jetliner, the 737 Max, have all been on the agenda in 2020.As a result, BA shares are down by a massive 52% so far this year.Heading into Wednesday’s Q3 earnings, …read more […]

On CNBC’s “Trading Nation,” Todd Gordon said he’s bullish QUALCOMM, Inc. (NASDAQ: QCOM) and he will likely add it to his portfolio.Gordon is bullish because Qualcomm’s chips are included in iPhone 12 and Apple Inc. (NASDAQ: AAPL) intends to include them in future models as well. He also sees a new tech boom with the 5G cycle. Technically, there is a big support at $125 and Gordon expects the stock to bounce off that price level. He also likes Qualcomm’s recent relative strength.Traders who want to buy Qualcomm should use options because of the election and the earnings, thinks Gordon. …read more […]