Year: 2020

Have stocks reached an impasse? For the last six months, the market has bounced back in a V-shape despite the havoc COVID-19 has wreaked, spurring an unprecedented economic and financial backdrop. Standing at the front of the pack has been the tech sector, with the space holding up strong. That is, until a few days ago. According to Bespoke Investment Group, Thursday September 3 marked the Nasdaq’s largest one-day drop from a record high in its history. The following session also saw the index land in the red. Weighing in on the decline is five-star analyst Daniel Ives, …read more […]

On CNBC’s “Options Action,” Tony Zhang suggested that investors should consider a bullish options strategy in Apple Inc. (NASDAQ: AAPL). He believes that the sell-off is going to be contained with the volatility we have seen over the past couple of days.Zhang thinks Apple’s chart is strong, relative to the market and to the tech sector and he thinks it has one of the strongest fundamental outlooks within the tech sector. The stock traded below its 20-day moving average, which Zhang sees as a bullish sign.To make a bullish bet, Zhang wants to sell the October $115/$105 put spread for …read more […]

A viewer of CNBC’s “Options Action,” asked the trading panel a question about FedEx Corporation (NYSE: FDX). The company is going to report earnings on Sept. 15 and the viewer, who sold the October $210/200 put spread in FedEx, wants to know what to do with the position going into earnings.Tony Zhang said he likes FedEx as it held up pretty well during the sell-off. Regarding the position, Zhang thinks that the viewer’s actions depend on his cost basis. If he has already collected more than 50% of the maximal profit on the put spread, it’s time to take profits. …read more […]

Shares in SRAX spiked as much as 37% in Friday’s extended market session after the digital marketing and consumer data technology company announced plans to acquire LD Micro, a data and event company serving the small and micro-cap space.The stock soared to as much as $3.91 on the news in Friday’s after-market session. Financial terms of the deal weren’t disclosed, but it is expected to close next week. SRAX (SRAX) has developed into a financial technology company that unlocks data and insights for publicly traded companies. Through its investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors …read more […]

Dynacor Gold Mines Inc. (TSE:DNG) shareholders might be concerned after seeing the share price drop 16% in the last… …read more […]

Camping World Holdings, Inc. (NYSE:CWH) stock is about to trade ex-dividend in four days. Ex-dividend means that… …read more […]

Here are some of the past week’s most popular downstream-related articles on Rigzone. …read more […]

Billionaire Warren Buffett’s Berkshire Hathaway disclosed on Friday that the investment conglomerate has slashed its stake in US lender Wells Fargo & Co to 3.3%.According to a SEC filing, Berkshire (BRK.A) now owns about 137.6 million shares in Wells Fargo, worth $3.4 billion, down from the 237.6 million shares it owned as of the end of the second quarter. The US lender’s shares were down almost 1% in Friday’s after-market session.Wells Fargo (WFC) stock has been hit hard, diving 54% so far this year as the US investment bank grapples with the financial fallout of the coronavirus pandemic and recent …read more […]

See what each team stands to lose if fans can’t attend games. …read more […]

The big shareholder groups in BP p.l.c. (LON:BP.) have power over the company. Insiders often own a large chunk of… …read more […]

United Airlines is gradually adding capacity with plans to fly 40% of its full schedule in October amid hopes of improvement in leisure travel. The company expects to fly 34% of its schedule in September.On September 4, United Airlines (UAL) announced that it is resuming services to 50 domestic routes and 14 international routes in October. The domestic routes include 37 from the airline’s Chicago, Denver and Houston hubs.The air carrier is adding additional flight services to 14 leisure destinations in Hawaii, Florida and Mexico.According to ADARA Traveler Trends Tracker, domestic air and hotel bookings for future travel have been …read more […]

AbbVie announced that it has signed an exclusive global collaboration agreement with I-Mab to develop and sell the Chinese biotech company’s lemzoparlimab drug candidate for the treatment of multiple cancers.Under the terms of the agreement, AbbVie (ABBV) will pay I-Mab $180 million in an upfront payment to exclusively license lemzoparlimab, also known as TJC4, along with $20 million in a milestone payment based on the Phase 1 results, for a total of $200 million. I-Mab will be eligible to receive up to $1.74 billion in success-based milestone payments for lemzoparlimab, of which $840 million are based on clinical development and …read more […]

The coronavirus pandemic has more than ever made businesses, educational institutions and other organizations dependent on using remote tools and has accelerated the shift to the cloud. The spike in internet traffic has put CDN (content delivery network) and edge computing companies like Akamai Technologies, Cloudflare, Fastly, and Limelight Networks in the forefront.What’s more, these companies are also seeing stronger demand for their cybersecurity solutions as remote working and increased reliance on the internet has heightened the risk of malicious cyber-attacks.Using the TipRanks’ Stock Comparison tool, we will place Cloudflare and Fastly side by side to see which stock offers …read more […]

The US Defense Department announced on Friday that it has completed a comprehensive review of its $10 billion JEDI cloud computing contract proposals and determined that Microsoft’s offering continues to represent the best value to the government.However, the US Defense Department (DoD) said that “contract performance” by Microsoft (MSFT) will not start immediately due to the preliminary injunction order issued by the Court of Federal Claims on February 13, after Amazon lost out and filed a lawsuit to challenge the contract process.“DoD is eager to begin delivering this capability to our men and women in uniform,” the DoD said in …read more […]

(Bloomberg) — Ned Naylor-Leyland has been all-in on silver for 18 years, earning derision along the way from fellow investors favoring the more glamorous gold. Now, with silver’s price skyrocketing 51% this year, he’s got reason to feel vindicated.The manager of the $1 billion Merian Gold and Silver Fund in London proudly calls himself a “silver bug,” a term describing an investor whose fervor for the precious metal is more extreme than the typical bullion enthusiast’s. The bugs foresee a crash of the fiat cash system in the aftermath of unprecedented monetary stimulus, putting silver back in play as a …read more […]