Month: November 2020

Shares of Maxar Technologies plunged 24.5% on Friday after the company reported weaker-than-expected 3Q sales results. The space technology company’s revenues increased 5.6% year-on-year to $436 million but fell short of analysts’ expectations of $453.7 million.Maxar Technologies’ (MAXR) 3Q earnings of $1.34 per share flipped from a loss of $0.42 per share in the year-ago quarter. The company’s CFO Biggs Porter said, “Performance in the quarter was solid, with both year-over-year revenue and profit growth on a consolidated basis and positive free cash flow. While the existence of the COVID pandemic remains a risk to our operations and the operations …read more […]

(Bloomberg Opinion) — This was supposed to be a time when things were getting closer to normal for OPEC. A recovery in oil demand after the first wave of the pandemic, coupled with a deep slump in U.S. production, was meant to leave the world needing more of its members’ crude. But it isn’t turning out like that.Two things have conspired against the Organization of Petroleum Exporting Countries. The coronavirus outbreak is threatening to put an already stalling recovery in oil demand into reverse. At the same time, supply is rising from a variety of sources over which it has …read more […]

It’s a quieter week on the economic calendar. Brexit, COVID-19, and U.S politics will remain the key drivers. The RBNZ is also in action. …read more […]

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It’s a mixed start to the day for the majors. A Bitcoin move back through to $15,000 levels would be needed to support the pack. …read more […]

How Jack Ma’s clash with the Chinese authorities stopped the biggest-ever share market debut. …read more […]

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The win by Joe Biden and Kamala Harris is getting a warm reception by investors, after media outlets announced the Democrats’ win in the U.S. presidential race on Saturday.What Happened: Markets have experienced their best week since April following Election Day. Although the tax plan proposed by Biden has not been embraced, investors and prominent Wall Street figures have been expressing support and called for the country’s unity after today’s announcement.Jim Awad, senior managing director at Clearstead Advisors, expressed assurance over a Biden presidency, saying “markets are going to like it because Biden is not going to go too far …read more […]

Joe Biden is returning to the White House to lead the United States in the midst of an economic crisis after beating President Donald Trump in Tuesday’s election, a turn of events likely to conjure an eerie sense of deja vu for the Democratic former vice president. Unlike in 2008, when the country elected Democrat Barack Obama and his running mate Biden as the global economy teetered from the sub-prime mortgage crisis and collapse of the Lehman Brothers investment bank, the worst of the current economic downturn may have passed already, economists and analysts say. “We were still …read more […]

(Bloomberg) — In the battle of the next-generation gaming machines, two key players are moving in different directions.Microsoft Corp. is making a serious attempt to attract fans in Japan with its new consoles and network services. Meanwhile, Tokyo-based Sony Corp. moved its PlayStation business headquarters to California in 2016 and has built the U.S. into its largest single market.New Xbox and PlayStation devices launching this week will likely face an uphill battle in Japan, where Nintendo Co.’s Switch enjoys dominance with a family-friendly lineup of games.But Microsoft’s targeting of the world’s third-largest video-game market — including with services that can …read more […]

(Bloomberg) — Now that the campaigning is over, the work begins for Joe Biden to start making good on the policy changes he promised. Here’s a breakdown of how a Biden presidency may affect some two dozen U.S. industries and what might rise to the top of his agenda as he takes over from Donald Trump in January. A few giant tech companies — practically industries unto themselves — are included for good measure.There are recurring themes in this compilation: The more closely a company interacts with individual American consumers, the more pressing are matters of Covid-19 restrictions and wages. …read more […]

(Bloomberg) — Now that the campaigning is over, the work begins for Joe Biden to start making good on the policy changes he promised. Here’s a breakdown of how a Biden presidency may affect some two dozen U.S. industries and what might rise to the top of his agenda as he takes over from Donald Trump in January. A few giant tech companies — practically industries unto themselves — are included for good measure.There are recurring themes in this compilation: The more closely a company interacts with individual American consumers, the more pressing are matters of Covid-19 restrictions and wages. …read more […]

On CNBC’s “Mad Money Lightning Round,” Jim Cramer said he would pick First Solar Inc. (NASDAQ: FSLR) over Solaredge Technologies Inc. (NASDAQ: SEDG).Plantronics Inc. (NYSE: PLT) is a good company and a very high quality stock, he said. He prefers lower-end companies, more gaming oriented, but he doesn’t want to go against the call and he thinks Plantronics is a good one.Workhorse Group Inc. (NASDAQ: WKHS) is a bit of a showhorse for Cramer. If he wanted an EV stock, he would buy Plug Power Inc. (NASDAQ: PLUG).Instead of Moneygram International Inc. (NASDAQ: MGI), Jim Cramer would buy Paypal Holdings …read more […]

(Bloomberg) — Shortly after 10 p.m. on election night, bettors went all-in on Donald Trump.Huge swaths of the country were suddenly turning Republican red on the electoral maps splashed on TVs and websites everywhere — Florida was in the bag for Trump; North Carolina and Ohio were breaking that way too, and early results from Georgia, Michigan and Wisconsin were all heavily in his favor.This, the gamblers told themselves, was a crystal clear sign that Trump had been badly underestimated by pundits and pollsters just like he had been in 2016 and that he would prove them wrong again and …read more […]

* Insider buying can be an encouraging signal for potential investors when markets face uncertainty. * Activist investor Carl Icahn added to a stake last week. * Financial companies and an options exchange operator saw insiders buying too.Conventional wisdom says that insiders and 10% shareholders really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when markets are near all-time highs.Though buy windows remain closed for many insiders during earnings-reporting season, …read more […]