Year: 2020

The past two weeks saw a reversal of fortune for Tesla (TSLA) shares. The stock has rallied 10 trading days in a row, and is up nearly 65%.There’s one reason why investors are particularly bullish on Tesla — success in Shanghai.Recent drone footage displays recent manufacturing capacity expansion at the firm’s new, highly anticipated Shanghai location. In addition, the plant will be producing and offering a longer-range/deluxe edition of its Model 3 strictly for Chinese customers. This redesigned version is already instilling hype among consumers and, according to Bloomberg, could be rolled out as early as this week. For the …read more […]

(Bloomberg Opinion) — There’s a certain devil-may-care glamour about going on a shopping spree when you’re already living beyond your means. It’s probably not the best way to convince your creditors to keep putting up the cash, however. Saudi Arabia might want to reflect on that after its recent splurge on oil companies, cruise ships and soccer. In the past month, the kingdom’s sovereign wealth fund has bought or been linked to plans to buy an 8.2% stake in cruise operator Carnival Corp.; about 80% of Newcastle United Football Club; and holdings in Royal Dutch Shell Plc, Total SA, Eni …read more […]

A U.S. judge on Friday put on hold a suit by Amazon.com Inc challenging the Pentagon’s decision to award a $10 billion contract to Microsoft Corp . Judge Patricia E. Campbell-Smith granted the Pentagon’s request to halt further action on the lawsuit to allow the military to reconsider aspects of the decision being challenged by Amazon, originally considered to be the favorite to win the award. Known as Joint Enterprise Defense Infrastructure, or JEDI, the cloud computing contract is intended to give the militarybetter access to data and technology from remote locations. …read more […]

(Bloomberg) — Saudi Arabia is set to sell about 600,000 barrels a day of crude to the U.S. in April, the highest volume in a year, according to a Saudi industry official familiar with allocations to American refiners.The shipments, agreed with refiners as Saudi Arabia ramped up production to a record 12.3 million barrels a day this month, come at a moment when U.S. demand is sharply down due to lockdowns to slow the Covid-19 pandemic. For May, state-run Saudi Arabian Oil Co. has said it will cut output to 8.5 million barrels a day as part of the OPEC+ …read more […]

Among the options Norwegian Cruise is considering is a stake sale known as private investment in public equity (PIPE), the sources said. The company is in talks with several private equity firms about a PIPE deal, the sources added. Goldman Sachs declined to comment. …read more […]

The S&P 500 has gained nearly 11% so far this month, and this rally is truly what seems to be – a bullish rally in the midst of a larger bear market. And this, of course, brings us to the main issue that investors must answer now: where to put their money. Markets bottomed on March 23, almost four weeks ago, and that trough brought many stocks down to an attractive point of entry. The current rally has not pushed them back high enough to erase that; the current price plateau offers latecomers a chance to buy into the rally …read more […]