Year: 2020

The cost to insure General Electric Co debt has shot up to levels last seen in 2018, possibly reflecting concern about the company’s exposure to coronavirus-induced declines in interest rates, air travel and global growth. GE credit default swaps, a measure of confidence in a company’s capacity to repay debt, were priced at 200.7 basis points on Wednesday, up 119% from 91.67 a week ago, according to data from Markit. It was their highest level since December 2018, just after GE’s credit ratings were cut and investors worried its debt might become non-investment grade. …read more […]

SEATTLE/WASHINGTON (Reuters) – Boeing Co plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday. The changes mark a reversal from the U.S. planemaker’s initial recommendation to the Federal Aviation Administration and pose a fresh hurdle to the jet’s already-delayed return to service. The FAA and Boeing first said in early January they were reviewing a wiring issue that could potentially cause a short circuit on the 737 MAX, and in certain remote circumstances lead to a …read more […]

While the spread of the coronavirus remains top of mind for investors, a trickle of corporate earnings results and new economic data releases will also receive some attention Thursday. …read more […]

(Bloomberg) — Private equity titans Blackstone Group Inc. and Carlyle Group Inc. are sending a directive to portfolio companies: Do whatever it takes to stave off a credit crunch.The firms are asking some of the companies they control to draw down their bank credit lines to help prevent any liquidity shortfalls amid signs of mounting stress in markets, according to people with knowledge of the matter.At Blackstone, which has weathered a variety of crises in its 35 years, the discussions focus on sectors impacted by the spread of the coronavirus, such as the hospitality industry, as well as energy firms …read more […]

Bookings for flights departing the U.S. suffered another steep decline over the past week, as would-be passengers concerned about COVID-19 shied away from travel commitments. …read more […]

(Bloomberg) — Tesla Inc. passed Boeing Co. as the most valuable industrial company in the U.S., closing a gap that was almost $200 billion a year ago.Boeing’s biggest one-day plunge in almost 40 years dropped its market capitalization to $106.5 billion, more than $10 billion below Tesla’s value. The planemaker’s shares, already reeling since the grounding of its best-selling 737 Max jetliner, have been hammered by concerns about the coronavirus crimping global travel.Tesla continues to elbow aside manufacturing stalwarts and industry bellwethers even as the virus costs the carmaker some of its own gains. Topping Boeing is a particularly satisfying …read more […]

Editor’s Note: One month to go…
Time is running out for Americans to finish the dreaded yearly scourge that is tax season.
But this year, we have good news!
Chief Income Strategist Marc Lichtenfeld has assembled his top tips for maximizing your refund into the YouTube series Sticking It to the Tax Man.
This quick and easy collection of his best strategies will help you stiff-arm the taxman this year and for years to come. Click here to watch Episode 4, which focuses on how to create a tax-efficient portfolio.
– Mable Buchanan, Assistant Managing Editor

If we were on Family Feud and were asked to …read more […]