Trading Ideas
Year: 2020
Trading Ideas
Business News
Bankruptcy court approves Neiman Marcus’ plea to access financing
U.S. luxury department store chain Neiman Marcus Group said on Friday it received court approval to access $675 million of its debtor-in-possession financing, which will allow continuity of the company’s business during Chapter 11 bankruptcy proceedings and enable it to pay employees and vendors.
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Explainer: Fed funds futures market sees negative rates by next April
The fed funds futures market is pricing in negative U.S. interest rates next year, a scenario the Federal Reserve has said it wants to avoid as many doubt that it would be an effective tool to stimulate growth. Setting interest rates below zero would punish banks for leaving excess cash with the central bank. The U.S. central bank slashed the federal funds rate to near zero in March and has launched numerous programs aimed at boosting liquidity and stabilizing financial markets as the U.S. economy reeled from the coronavirus pandemic. …read more […]
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‘Unhinged’ Cattle Ranchers Look for Answers in U.S. Price Probe
(Bloomberg) — U.S. ranchers are looking forward to the results of an investigation into market manipulation as low livestock prices threaten their survival, an industry leader said.Farmers “are becoming unhinged” as livestock gluts — exacerbated by a wave of slaughterhouse disruptions — are coinciding with record-high wholesale beef prices, American Farm Bureau President Zippy Duvall said Friday.He spoke at a round-table that included Iowa Senators Joni Ernst and Chuck Grassley, Vice President Mike Pence and senior meatpacker executives. While the senators echoed calls to close the cattle-beef pricing gap, Pence congratulated meatpackers including Tyson Foods Inc. and Smithfield Foods Inc. …read more […]
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Business News
Wall Street Week Ahead: U.S. data deluge to underscore divide between roaring market, plunging economy
A week packed with U.S. economic data is likely to provide investors with more evidence of the extent to which the coronavirus pandemic has hit growth, sharpening the debate on whether a rebound in stocks has been justified amid an unprecedented slowdown.
Business News
Pfizer to outsource some drug production, focus on coronavirus vaccine
Pfizer Inc said on Friday it is in talks to shift more of its medicine production to outside contractors as it prepares for large-scale production of an experimental vaccine to prevent COVID-19, should it prove safe and effective.
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Business News
No ‘V’-shape return from devastating U.S. job loss, Fed policymakers say
As many parts of the world’s biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of the coronavirus but gutted jobs, Americans should not expect a quick return to growth, U.S. Federal Reserve officials said on Friday.
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Look Beyond 2Q, General Motors Will Outperform the Sector, Says Analyst
Over half the companies on the S&P 500 have delivered first quarter reports, and the print, so far, isn’t pretty. According to FactSet, blended earnings have declined by 13.7%, and if results remain the same, the quarter will represent the steepest decline in earnings since Q3 2009, (-15.7%).But there are always outliers, and ones you would not necessarily expect – particularly in the current climate.Which brings us to General Motors (GM). The auto giant sprung a surprise on Wall Street when it delivered a stronger than expected earnings report earlier this week. Following the company’s earnings call, RBC’s Jospeh Spak …read more […]
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Investor James Richman Bets GE Stock Is Set to Experience Almost 100% Rally
General Electric (GE) shares have been on the decline as of late. As a result, many investors have been understandably worried. Such sentiments have placed the American manufacturing giant on the market spotlight, and begs the question: is it still worth investing in at current levels? Traversing turbulent market conditions, the outlook seems bleak for the 128-year-old conglomerate. Is there no way up for the aviation unit of General Electric? What about its other subsidiaries? Investor James Richman bets GE is likely to touch down $5-level. From there, the tech investor is bullish that the price will double in value …read more […]
Business News
U.S. small business rescue program ignored Congress: watchdog
The U.S. government’s $660 billion program to rescue small businesses hit by the coronavirus pandemic thwarts the intention of Congress by making it hard for some borrowers to convert loans to grants and failing to prioritize the right businesses, a government watchdog said on Friday.