Year: 2020

(Bloomberg) — Tesla Inc. shares are poised to extend losses after the electric-car maker’s largest shareholder behind Elon Musk cut its stake.The stock slumped 6.7% to $417.54 at 6:02 a.m. New York time in premarket trading, having fallen 5.8% on Wednesday after Baillie Gifford & Co. disclosed that it reduced its holding to 4.25% of Tesla’s shares from 7.67% in February. With the sale, the Edinburgh-based firm is now Tesla’s fourth-biggest investor, according to data compiled by Bloomberg.Baillie Gifford needed to reduce the holding because of guidelines that restrict the weight of a single stock in client portfolios, Dow Jones …read more […]

Baker Hughes Company (NYSE:BKR) shareholders (or potential shareholders) will be happy to see that the Chairman & CEO… …read more […]

Top news and what to watch in the markets on Thursday, September 3, 2020. …read more […]

(Bloomberg) — Oil fell further in New York after the deepest drop since July as concerns mount over OPEC supply and fuel demand.Iraq, a regular laggard in the output curb deal between OPEC and its allies, may seek a two-month extension to implement its compensatory cuts, indicating it won’t be able to reduce production as quickly as previously promised. That comes as other members of the club, including Saudi Arabia and Russia, are bringing some supply back in line with their agreement.In Europe, profit from making diesel on Thursday plunged to the lowest since at least 2011, signaling that demand …read more […]

The average price of Brent crude oil will increase by $14 per barrel from 2020 to 2024, according to Fitch Solutions. …read more […]

Qualcomm Inc is ramping up its effort to put 5G mobile phones within reach of billions of people and backing new connected laptops aimed at the growing number of people working at home due to the COVID-19 pandemic. “It will deliver on the promise of making 5G accessible to all smartphone users,” Qualcomm’s president, Cristiano Amon, said in an opening video address to the IFA consumer technology fair in Berlin. …read more […]

It is hard to get excited after looking at British American Tobacco’s (LON:BATS) recent performance, when its stock… …read more […]

(Bloomberg) — Ant Group’s late-summer IPO filing drove home why the business — backed by 711 million monthly users that spent $17 trillion through its platform — is headed for potentially the world’s largest stock debut. Yet investors may do well to focus on the long-term threat to its core businesses from arch rival Tencent Holdings Ltd.Ant is set to join the top echelon of global finance alongside Bank of America Corp., as it seeks to raise about $30 billion with a valuation of about $225 billion in Hong Kong and Shanghai, people familiar have said. Once the dust settles, …read more […]

(Bloomberg) — China is planning a sweeping set of new government policies to develop its domestic semiconductor industry and counter Trump administration restrictions, conferring the same kind of priority on the effort it accorded to building its atomic capability, according to people with knowledge of the matter.Beijing is preparing broad support for so-called third-generation semiconductors for the five years through 2025, said the people, asking not to be identified discussing government deliberations. A suite of measures to bolster research, education and financing for the industry has been added to a draft of the country’s 14th five-year plan, which will be …read more […]

(Bloomberg Opinion) — After every financial scandal, the natural question that gets asked is: Where were the regulators?The answer, usually, is asleep at the wheel — or MIA altogether. When the U.S. Securities and Exchange Commission opened a formal probe into Enron in 2001, the energy-trading giant had already lost 83% of its market value and was weeks from declaring bankruptcy. More recently, a string of money-laundering scandals in Europe has shown watchdogs missed warning signs for years.When it comes to the spectacular collapse of German fintech darling Wirecard AG, though, things are rather more embarrassing. We know exactly what …read more […]

U.S. wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India’s Vodafone Idea Ltd, the Mint newspaper reported on Thursday, sending shares in the struggling Indian telecom firm up 10%. Vodafone Idea’s stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could have threatened Vodafone Idea’s survival, Mint reported, citing two unnamed people aware of the negotiations. …read more […]

Tesla Inc’s CEO Elon Musk met with three German ministers and other senior politicians on Wednesday to discuss the progress of a collaboration between the car maker and a German biotech company and a planned electric vehicle factory. Ralph Brinkhaus, leader of Chancellor Angela Merkel’s CDU/CSU conservative parliamentary bloc, said Musk was satisfied with the progress of Tesla’s alliance with vaccine developer CureVac. …read more […]

While many small pharma companies are racing to bring various coronavirus-related solutions to market, it is one of Big Pharma’s representatives that has flexed its muscles with the latest meaningful product. Last week, Abbott Laboratories (ABT) announced it had been granted emergency use authorization (EUA) by the FDA for its rapid COVID-19 antibody test, BinaxNOW.The test doesn’t need any instrumentation or equipment, and each test kit is completely disposable. The test provides results in 15 minutes, is priced at $5 and can be overseen by a wide range of people. Despite being a quick solution, it is highly accurate, with …read more […]

I’m starting to see the same question pop up more and more…
Perhaps that little voice in your head is asking this question as well…
What do I do if the markets crash?
It’s a very valid question – especially now.
After all, the S&P delivered its ninth positive session out of the last 10.
The Dow recorded its fifth positive session out of the last six.
And the Nasdaq is going straight to the moon!
Sure, that’s fun. But as we all know – the stock markets don’t move in only one direction.
That’s why you need to see my Ask Me Anything video below…
Question No. 3 …read more […]

My background is in electrical engineering. But I’ve always had an interest in investing. I’ve been doing it for my family for more than 45 years.
And companies in the energy infrastructure and technology sectors have been some of my favorites to profit from.
I’ve been recommending top tech companies to my paid subscribers for more than a decade. And for good reason.
The shares of publicly traded tech companies are major drivers of global economic change. And that reality is going to be with us for a long time.
Many of my tech investment recommendations have paid off handsomely for my subscribers. But …read more […]