Year: 2020

(Bloomberg) — China’s massive renewable energy industry has seen shares soar since President Xi Jinping announced the country aims to go carbon neutral by 2060.That surge continued Friday as mainland-listed solar giants like Longi Green Energy Technology Co. and Tongwei Co. jumped in their first trading after a week-long holiday during which some peers in Hong Kong posted gains of more than 20%.The furious rally illustrates the growth potential investors see in Beijing’s effort to go from the world’s biggest polluter to carbon neutrality. The shift could require anywhere from $5 trillion to $15 trillion in investment, much of it …read more […]

Ryanair expects Boeing’s troubled 737 MAX aircraft to return to service in the United States in the next month or so, paving the way for the Irish low-cost carrier to start receiving planes in early 2021, a senior executive said on Friday. The Federal Aviation Administration (FAA) on Tuesday issued a draft report on revised training procedures for the 737 MAX, a milestone to return the plane to service. The FAA finished their test flights last week and it looks like it’s going to go back into service in the U.S. in the next month or so. …read more […]

A strengthening Hurricane Delta dealt the greatest blow to U.S. offshore Gulf of Mexico production in 15 years, halting most of the region’s oil and nearly two-thirds of its natural gas output. An already large and powerful storm, Delta could intensify further on Friday as it churns through the Gulf’s prime oil-producing area. Its winds reached 120 miles per hour (195 kmh), according to the National Hurricane Center. …read more […]

(Bloomberg) — Advanced Micro Devices Inc. is in advanced discussions to buy Xilinx Inc. in a takeover that could be valued at $30 billion, according to people familiar with the matter.The deal could come together as early as next week, though things remain in flux, the people said, asking not to be identified discussing a private deal.A combination with Xilinx would give AMD Chief Executive Officer Lisa Su more of the pieces needed to break Intel Corp.’s stranglehold on the profitable market for data-center computer components. It would follow moves by rival Nvidia Corp., which bought Mellanox Technologies Ltd. and …read more […]

(Bloomberg) — Oil in New York is poised for the biggest weekly gain since June with Hurricane Delta forcing operators to shut-in almost 92% of crude output in the Gulf of Mexico as the storm heads toward the U.S. coast.Futures edged lower on Friday but were still up about 11% for the week. Delta regained major hurricane strength and is forecast to slam into the already battered Louisiana coast on Friday after barreling across the Yucatan Peninsula earlier in the week. Prices have also been buoyed by an oil-workers strike in Norway, which is threatening almost a quarter of the …read more […]

Packaged food companies experienced a spike in demand when the pandemic triggered shelter-at-home orders earlier this year. With the gradual reopening of restaurants and fast-food chains, the growth rate for packaged food sales has moderated but the demand continues to be strong compared to pre-pandemic levels as many consumers are opting for home-cooked and packaged food due to COVID-19 fears.With this in mind, we will place consumer staples companies Kraft Heinz and General Mills alongside each other and use the TipRanks Stock Comparison tool to assess which stock offers a more compelling investment opportunity.Kraft Heinz (KHC)Kraft Heinz has been struggling …read more […]

Due to the COVID-19 pandemic, the media and entertainment business is losing revenue from movie tickets, cable subscriptions, and television ads. Telecom giant AT&T Inc’s (NYSE: T) subsidiary WarnerMedia LLC is the latest in the sector to consider layoffs as a cost-cutting measure, according to the Wall Street Journal.Time Warner Inc. was renamed WarnerMedia after AT&T’s acquisition in 2018. What Happened: WarnerMedia’s restructuring plans could kick off sometime in the coming weeks and the layoffs would take place across Warner Bros Studios and other subsidiaries like HBO, TNT, and TBS, as per the Journal. The company is reportedly targeting …read more […]

The world’s first big computing giant wants to focus on higher-margin businesses like the cloud and AI. …read more […]

(Bloomberg) — Poland’s antitrust watchdog slapped a $7.6 billion fine on Gazprom PJSC over the Nord Stream 2 pipeline, opening a new front in the bitter political battle over the natural gas project. Wednesday’s surprise move raises a whole set of legal questions about the plan, which is teetering on the brink.What was the fine for?The antitrust authority said Gazprom and its partners, which were ordered to pay about $61.3 million, failed to get its approval for a joint venture to finance the pipeline. Completing the project makes European gas customers more dependent on a single supplier, Gazprom, and may …read more […]

(Bloomberg) — U.S. equity futures climbed after the White House appeared to shift tack and signaled the Trump administration is again leaning toward a large-scale stimulus bill. The dollar fell.S&P 500 contracts were about 0.6% higher following news that Treasury Secretary Steven Mnuchin told Nancy Pelosi that President Donald Trump wants agreement on a comprehensive aid package. Shares in Japan and Australia dipped, while rising in Hong Kong. Chinese equities advanced as markets reopened after a week-long holiday. The offshore yuan climbed following a stronger-than-anticipated daily currency fixing.The U.S. benchmark earlier closed up despite conflicting comments from Trump and Pelosi …read more […]

Boeing Co is in discussions to sell 737 MAX jets to Alaska Airlines once the plane returns to service following a lengthy grounding, three people familiar with the matter said. The talks are part of a series of negotiations between Boeing and several airlines over jet orders or compensation after the 737 MAX was banned worldwide following two fatal crashes. Boeing and Alaska Airlines, which is part of Alaska Air Group Inc , declined to comment. …read more […]

(Bloomberg) — Advanced Micro Devices Inc. is in advanced discussions to buy Xilinx Inc. in a takeover that could be valued at $30 billion, according to people familiar with the matter.The deal could come together as early as next week, though things remain in flux, the people said, asking not to be identified discussing a private deal. The Wall Street Journal first reported on the negotiations.A combination with Xilinx would give AMD Chief Executive Officer Lisa Su more of the pieces needed to break Intel Corp.’s stranglehold on the profitable market for data-center computer components. It would follow moves by …read more […]

Final data from Gilead Sciences Inc’s antiviral drug remdesivir showed the treatment cut COVID-19 recovery time by five days compared with patients who got a placebo, one day faster than indicated in preliminary data, the company and researchers said on Thursday. In patients who were on oxygen when they first got the drug, remdesivir – sold under the brand Veklury – reduced recovery time by seven days compared with placebo after 29 days, according to the 1,062-patient study, published in the New England Journal of Medicine. Gilead’s drug was among the first to be used as a …read more […]

It has been a year of two halves for Gilead Sciences (GILD). Following the pandemic’s onset, the pharma heavyweight was initially one of the main beneficiaries. Hopes were high Gilead’s experimental Covid-19 antiviral drug remdesivir will play its part in combating COVID-19, and shares dutifully took off.But since April’s yearly highs, Gilead has faced a series of headwinds which have stunted its market performance.Disappointing earnings, a CRL (complete response letter) from the FDA for rheumatoid arthritis (RA) treatment filgotinib, and concerns regarding remdesivir’s commercial potential, are among the reasons why shares have swung into the red in 2020.Now remdesivir is …read more […]

When it came to deliveries, Telsa (TSLA) delivered. Last week, the electric car maker announced that quarterly deliveries hit a new record.As a result, Deutsche Bank analyst Emmanuel Rosner bumped up his Q3 revenue forecast from $8.2 billion to $8.5 billion, and believes deliveries for the full year will be higher than he originally expected.It should be noted that following the company’s Battery Day event, the analyst upgraded the rating to Buy, recommending that investors “use any deliveries-related stock weakness to accumulate Tesla shares ahead of significant growth acceleration in Q4 and 2021.”Expounding on the company’s prospects, Rosner commented, “Expectations …read more […]