Trading Ideas
Year: 2020
Business News
SoftBank-backed Oyo furloughs some U.S. workers as coronavirus hits revenue
SoftBank-backed Oyo Hotels and Homes is furloughing some employees to cut costs, it said on Wednesday, as lower travel due to the coronavirus pandemic slams the hospitality industry.
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Saudi Crude Oil Armada Heads for U.S.
(Bloomberg) — On the final day of March, the supertanker Newton, loaded with crude from Saudi Arabia, did something rarely seen in the world of oil trading: it abruptly diverted from its original destination, Egypt, setting sail for the U.S. Gulf Coast instead.The Newton is just part of a flood of Saudi crude that’s headed for the U.S., with oil prices near the lowest levels in almost two decades. And it occurs as President Trump’s administration considers tariffs on imports of oil from OPEC’s largest producer.Saudi crude exports to the U.S. in March jumped to at least 516,000 barrels a …read more […]
Business News
Fiat Chrysler in talks with unions for production restart in Italy
Fiat Chrysler (FCA) and unions are discussing plans for beefed-up health measures at Italian plants to pave the way for most profitable production to restart as soon as the government eases a national lockdown, unions said on Wednesday.
Business News
Global stocks turn negative as virus death toll mounts
World stocks turned negative on Wednesday as the coronavirus death toll mounted and euro zone finance ministers failed to agree a rescue package to help economies recover from the impact of the outbreak.
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A Rising Share Price Has Us Looking Closely At Continental Resources, Inc.'s (NYSE:CLR) P/E Ratio
Those holding Continental Resources (NYSE:CLR) shares must be pleased that the share price has rebounded 48% in the… …read more […]
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Does Abiomed (NASDAQ:ABMD) Deserve A Spot On Your Watchlist?
Like a puppy chasing its tail, some new investors often chase ‘the next big thing’, even if that means buying ‘story… …read more […]
Business News
OECD says leading indicators flag biggest monthly drop on record
Major economies are seeing the biggest monthly slump in activity ever amid the coronavirus crisis and no end is in sight without clarity about how long lockdowns will last, the Organisation for Economic Cooperation and Development said on Wednesday.
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A quirky post-crisis stock market trend has flipped: Morning Brief
Top news and what to watch in the markets on Wednesday, April 8, 2020. …read more […]
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Business News
EasyJet founder continues battle over $5.5 billion Airbus order
EasyJet founder Stelios Haji-Ioannou continued his battle to force the British airline to cancel an order for 107 Airbus planes, making a new demand on Wednesday for a shareholder vote and threatening to sue its directors.
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India to Buy Up Middle Eastern Oil for Strategic Reserves
(Bloomberg) — India, the world’s third biggest oil consumer, is set to snap up millions of barrels of Middle East crude for its strategic reserves, signaling its support for global efforts to rescue the energy market.The purchases are aimed at taking advantage of low prices, according to officials with knowledge of the matter. But two of them said they’re also a signal of solidarity for the campaign to stabilize markets after Oil Minister Dharmendra Pradhan spoke with his U.S. and Saudi Arabian counterparts and the head of the International Energy Agency.While India’s storage capacity is relatively small, the purchases are …read more […]
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China’s Streaming Platform iQIYI Retaliates Against Short Seller Report
Chinese online entertainment service iQIYI Inc (IQ) has issued a statement denying allegations made in a short report by Wolfpack Research.In its April 7 report, Wolfpack alleges that “IQ was committing fraud well before its IPO in 2018 and has continued to do so ever since.” It estimates that IQ inflated its 2019 revenue by approximately RMB 8-13 billion, or 27%-44%, by overstating its user numbers by approximately 42%-60%.According to the report, IQ inflates its expenses, the prices it pays for content, other assets, and acquisitions to “burn off fake cash to hide the fraud from its auditor and investors.” …read more […]
Business News
Oil holds near $32 ahead of OPEC-led talks on output cuts
Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic.
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