Year: 2020

We’ve lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The… …read more […]

(Bloomberg) — Glencore Plc is negotiating a long-term contract to ship cobalt to Tesla Inc.’s new electric-vehicle factory in Shanghai, according to people familiar with the matter.A deal would help Tesla avoid a supply squeeze on the key battery metal as it pushes into the world’s largest car market, and mark a win for Glencore after a tough spell for its cobalt business.Executives from both companies hammered out terms of the deal before an official ceremony to mark the first sales from the Shanghai plant earlier this month, said one of the people, who asked not to be identified discussing …read more […]

(Bloomberg) — Goldman Sachs Group Inc. has sold off its stake in Uber Technologies Inc. after the ride-hailing startup’s disappointing initial public offering in 2019.Chief Financial Officer Stephen Scherr said on the bank’s earnings call Wednesday that it closed its position in Uber in the fourth quarter last year.Goldman owned about 10 million shares of Uber at the time of the IPO, turning a $5 million wager using the firm’s own money back in 2011 into a major windfall. The bank recognized a gain in the second quarter, but took a hit in the third quarter as Uber’s shares plunged. …read more […]

After a stock takes a tumble, wait just a minute before you count it out. While falling share prices could be a sign that a company is under duress, it doesn’t always mean that its growth story has come to an end. After all, a tried and true strategy to turn a profit in the market is to buy low and sell high.Wall Street pros remind investors to take this into consideration when gauging the strength of investments in the healthcare space. As these names rely on only a few key catalysts, all it takes is a single piece of …read more […]

Headlines moving the stock market in real time. …read more […]

Earnings season rolls on for big banks with Goldman Sachs and Bank of America both posting earnings reports for the quarter today. Yahoo Finance’s Emily McCormick joins Alexis Christoforous and Brian Sozzi to discuss the results on The First Trade. …read more […]

In a set of interesting reports, Goldman Sachs telecom expert Brett Feldman turns his eye on the American wireless market – and its growing rollover to 5G technology. Feldman notes five reasons why 5G will drive a period of sustained growth for companies with an ‘in.’ While the analyst focuses on tower-leasing REITs, his basic point applies to most companies with a strong connection to the 5G switchover: wireless providers, device makers, chip makers.A look at three of Feldman’s points outlines what we can expect in the next couple of years, as 5G networks expand across the country. First, he …read more […]

(Bloomberg) — Bank of America Corp.’s traders bounced back with their peers.Trading revenue climbed 13% to $2.86 billion, beating analysts’ $2.76 billion estimate, helped by fixed income, currencies and commodities activity. The fourth-quarter results echo those of JPMorgan Chase & Co., which posted a record performance in bond trading Tuesday, and Citigroup Inc., where debt trading jumped by more than double what analysts had forecast.“Our results continue to reflect the strength of the U.S. consumer in the biggest economy in the world,” Chief Executive Officer Brian Moynihan said on a conference call with analysts Wednesday. “This quarter is also one …read more […]