Year: 2020

Some investors rely on dividends for growing their wealth, and if you’re one of those dividend sleuths, you might be… …read more […]

Altimmune, Inc. (NASDAQ:ALT) defied analyst predictions to release its third-quarter results, which were ahead of… …read more […]

(Bloomberg) — The stock rally sparked by Pfizer Inc.’s promising Covid-19 vaccine trial results boosted many investors’ fortunes, but none so dramatically as a pair of German brothers.Andreas and Thomas Struengmann have collectively added about $8 billion to their wealth this year thanks to their stake in BioNTech SE, the German firm that’s developing the vaccine with Pfizer. BioNTech’s American depositary receipts surged this week after the U.S. drug giant reported the shot they’re working on prevented 90% of symptomatic infections in tens of thousands of volunteers.At $22 billion, the twins have one of the world’s biggest health-care fortunes, according …read more […]

Indonesian President Joko Widodo said he will send a high-level team next week to meet with top executives of U.S. automaker Tesla as the Southeast Asian country aims to become the world’s biggest producer of electric vehicle batteries. The president, known by his popular name Jokowi, told Reuters in an interview on Friday the trip will be part of Indonesia’s promotion of its new, so-called “Omnibus” Job Creation law, which simplifies doing business in Indonesia. “Next week we will send a large team to America and Japan, to promote the Omnibus,” Jokowi said. …read more […]

(Bloomberg) — China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil.Unipec, the trading arm of China’s biggest oil refiner Sinopec Group, hired a newly-built very large crude carrier to load low-sulfur diesel in Asia for delivery to Europe. The vessel ordinarily would have sailed empty from its shipyard in Northeast Asia to the Middle East or West Africa, where it would pick up crude for the first time for delivery to customers across the globe.While supertankers are built to transport dirty fuels such …read more […]

(Bloomberg) — Stocks in Europe and Asia dipped while U.S. equity futures edged higher as investors assessed the prospects for additional government stimulus to help economies battered by soaring coronavirus cases. Treasuries added to gains.The Stoxx Europe 600 Index headed for a second day of losses after rallying earlier this week, with tech shares outperforming once again thanks to their perceived haven status. Equities dipped in Hong Kong, Australia and China. S&P 500 futures fluctuated before turning higher after the benchmark fell 1% as New York prepared for the possibility of school closures and Chicago urged residents to stay at …read more […]

(Bloomberg) — Oil fell for a second day — dropping below $41 a barrel in New York — after a surprise jump in U.S. crude stockpiles and a gloomy forecast from the International Energy Agency weighed on the demand outlook.American crude inventories rose by 4.28 million barrels, climbing for a second week in three, according to data from the Energy Information Administration on Thursday. The IEA cut its global oil demand projections for this quarter by 1.2 million barrels a day in its latest monthly report.Oil is still up about 9% this week, however, after news of a potential Covid-19 …read more […]

China’s President Xi Jinping personally made the decision to halt Alibaba Group Holdings (NYSE: BABA)-backed Ant Group’s initial public offering, touted to be the world’s largest IPO, a Wall Street Journal report claims.What Happened: Ant Group could have raised $37 billion in its dual listing in China and Hong Kong, valuing the financial services company at more than $280 billion, but Chinese regulators suspended the listing, citing tighter regulations to protect the financial interests of consumers and investors.The new regulations will force the Ant Group to rework its business model of being a bridge between borrowers and banks. If all …read more […]

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Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said he took four tests for COVID-19 on Thursday, two of which came out positive.What Happened: Musk said on Twitter that something “extremely bogus is going on” as he was tested for COVID-19 four times. “Two tests came back negative, two came back positive. Same machine, same test, same nurse.”The billionaire entrepreneur said he was administered rapid antigen tests from Becton Dickinson and Co. (NYSE: BDX). > Symptoms of a typical cold. Nothing unusual so far.> > — Elon Musk (@elonmusk) November 13, 2020The CEO also said on social media that he was …read more […]

Two tests came back negative, two came back positive. Musk, who took rapid antigen tests on Thursday, said he was also awaiting results from polymerase chain reaction (PCR) tests from different labs. …read more […]

Chinese electric vehicle manufacturer Nio Inc (NASDAQ: NIO) faces increased competition from Tesla Inc (NASDAQ: TSLA), which will only become more intense with the launch of the latter’s China-made Model Y vehicle, according to Bloomberg Intelligence analysts.What Happened: The Elon Musk-led company’s locally-made compact SUV could give the Nio a run for its money, as per the analysts. “Tesla’s brand cachet and wider distribution network could lift its Model Y unit sales above Nio’s,” they said, as reported by Bloomberg on Thursday.Competition is also reportedly intensifying as conventional automakers such as Volkswagen AG (OTC: VWAGY), Toyota Motor Corporation (NYSE: TM), …read more […]

(Bloomberg) — Traders looking to cash in on the wild swings in Chinese internet stocks this week are betting that the two biggest firms will run in opposite directions.A strategy of matching a bid on Tencent Holdings Ltd. with a short position on Alibaba Group Holding Ltd. would have gained 13% this month in Hong Kong, excluding fees and dividends. That would be the biggest monthly return since June. The so-called pair trade strategy combines opposing positions in stocks that are typically highly correlated.Beijing last week abruptly halted the initial public offering of Jack Ma’s Ant Group Co., casting a …read more […]

(Bloomberg) — Donald Trump signed an order prohibiting U.S. investments in Chinese firms determined to be owned or controlled by the country’s military, the latest bid by the White House to pressure Beijing over what the president has described as abusive business practices.China is “increasingly exploiting” U.S. capital for “the development and modernization of its military, intelligence, and other security apparatuses,” posing a threat to the U.S., according to the executive order, signed on Thursday.Relations between the U.S. and China have deteriorated following the signing of a trade deal early in the year. Trump also has repeatedly vowed to punish …read more […]

* Revenue was $1,017.1 million as compared to $981. …read more […]