Year: 2020

(Bloomberg) — Oil headed for a second weekly gain as signs an energy demand recovery in the U.S. is gaining traction outweighed a more pessimistic report from the International Energy Agency.Futures in New York edged higher near $42 a barrel Friday and are up around 3% for the week. A slew of encouraging data on U.S. crude stockpiles, gasoline consumption and refinery activity spurred the biggest daily jump in three weeks Wednesday. The optimism was tempered the following day as the IEA cut its global demand estimates for almost every quarter through the end of 2021.The agency’s steepest downgrades were …read more […]

Britain will buy potential COVID-19 vaccines from U.S. drugmakers Johnson & Johnson and Novavax Inc, the companies said on Friday, bringing the total number of deals by the UK government to six as the race for shots heats up. Johnson & Johnson said its Janssen Pharmaceutica unit will supply the UK government with its candidate known as Ad26.COV2.S with an initial sale of 30 million doses on a not-for-profit basis for emergency pandemic use. In a separate statement, Novavax said the UK would buy 60 million doses of its coronavirus vaccine candidate, NVX-CoV2373, for a phase 3 …read more […]

Baidu’s second-quarter revenue fell 1% to 26.0 billion yuan ($3.8 billion) from the same period a year earlier but was better than an average analyst estimate of 25.7 billion yuan. Shares in iQIYI, a Netflix-like video-streaming service, plunged as much as 19% while Baidu shares dropped 5.5% in after-hours trade. It said it could not predict the timing, outcome or consequences of the probe and had hired professional advisers to conduct an internal review. …read more […]

(Bloomberg) — When Democratic Party presidential nominee Joe Biden picked Kamala Harris to be his running mate, it sparked a frenzy on the other side of the globe to track down her connections to Chennai, the southern Indian city where her mother was born.On Twitter and Facebook, a flurry of users chronicled every minute link including her grandparents’ home in the Besant Nagar neighborhood, from where her mother Shyamala Gopalan set off as a teenager to pursue a doctoral degree at the University of California Berkeley. Undated photos surfaced of Kamala and younger sibling Maya in saris, smilingly posing with …read more […]

Telemedicine company MDLive is planning for a public offering early next year, CEO Charles Jones told Stat Thursday.What Happened The executive disclosed that the offering is still in early stages and is planned for January or February next year, according to Stat.Jones said his decision to take MDLive public was reinforced by rival telemedicine company Teladoc Health Inc’s (NYSE: TDOC) planned .5 billion acquisition of Livongo Health, Inc (NASDAQ: LVGO).Teladoc expects to bring in $990 million in revenue for 2020, whereas MDLive is in line to bring in $120 million, Stat noted.A key difference between the two companies is that …read more […]

The Philippine unit of Royal Dutch Shell said on Thursday it will permanently shut one of the country’s two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts. Pilipinas Shell Petroleum Corp said its 110,000-barrel-per-day (bpd) Tabangao facility in Batangas province, which began operations in 1962, was no longer economically viable and would be turned into an import terminal. “We definitely see the possibility of more closures in Asia over the next 6-12 months,” said Mia Geng, consultant at FGE, adding that refineries in Japan, Australia and New Zealand …read more […]

(Bloomberg) — It took weeks of frenzied gold trading in Istanbul’s historic commercial center to spur one of the biggest gaps between the cost of physical dollar bills and the official exchange rate in 18 years.Home to scores of foreign-exchange kiosks that double up as brokers for the precious metal, the Grand Bazaar is often seen as the benchmark for the country. Traders there also mostly use cash to settle gold dealings — and dollars were in short supply.As a result, U.S. currency bills in this market have been trading at the biggest premium relative to the official exchange rate …read more […]

(Bloomberg) — Baidu Inc.’s quarterly revenue shrank 1% and its projections suggest sales could slide again, as rivals like ByteDance Ltd. continue to chip away at its core advertising business.China’s leading search engine forecast sales of 26.3 billion yuan ($3.8 billion) to 28.7 billion yuan for the September quarter, compared with estimates for 27.62 billion yuan. Its shares slipped as much as 8% in extended trading after Netflix-style subsidiary iQiyi Inc. disclosed it was cooperating with a U.S. regulatory inquiry into allegations by Wolfpack Research that it inflated user numbers. Shares in iQiyi fell as much as 19%.Read more: Baidu-Backed …read more […]

(Bloomberg) — Amazon.com Inc. is offering Seattle-based employees a choice of smaller offices outside the city, suggesting the Covid-19 outbreak and a new local employers tax have pushed the e-commerce giant to consider alternatives to its hometown.In a message to employees Thursday, Amazon asked which communities near Seattle — including Tacoma and Redmond, Washington — they’d prefer. The title on the message, which was shared on Reddit and later deleted, was “office workplace options.” Amazon declined to comment on the matter.Amazon, which reported a total global workforce of almost 877,000 as of June 30, has been expanding beyond Seattle for …read more […]

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Oil prices advanced on Friday and were heading for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide. West Texas Intermediate had gained 12 cents, or 0.3%, to $42.36. “The situation has improved some, but the market dynamics are still less than stellar,” said Robert Yawger, director of energy futures at Mizuho Securities, adding “the market is oversupplied”. …read more […]

Taking the top spot, Apple (AAPL) is the world’s largest company by market cap. Valued at almost $2 trillion, the tech giant keeps swatting away whatever headwinds it encounters.The level of devotion it inspires among its fans is like no other. Mega-cap rivals Microsoft and Amazon might also be considered untouchable titans, but their brands and products do not sparkle with the same aura as Apple’s offerings do.That said, should investors be comfortable with how much its valuation has increased recently? Deutsche Bank analyst Jeriel Ong took a look inside Apple’s core, to explore why the giant from Cupertino has …read more […]

OAKVILLE, ON, Aug. 13, 2020 /CNW/ – Algonquin Power & Utilities Corp. …read more […]

Do you recall our alert from Tuesday, July 14?
I sure do…
And so do a lot of Trade of the Day members who acted on this alert – and made themselves a boatload of cash.
It was called “the Vending Machine of Cars.”
The advice that day was to buy shares of Carvana(NYSE: CVNA).
Back on June 14, Carvana was around $110 per share.
And as you can see, since we made that recommendation, shares have traded above $220.
That’s a double – in less than two months – off a free Trade of the Day pick!

Based on this huge run, Trade of the Day …read more […]

2020 is turning out to be a tale of two halves for Inovio Pharmaceuticals (INO).The vaccine maker’s valuation increased 10-fold between January and early July, backed by vigorous coronavirus tailwinds. As one of several companies taking the fight to COVID-19, investors cheered the early development of its COVID-19 DNA vaccine candidate, INO-4800.However, sentiment has soured recently, as analysts and investors have questioned whether Inovio’s offering can go the distance against its weightier rivals. Over the past month, the share price has declined by 30%.As a company with no product to sell (Inovio’s candidates are all still in development), investors’ focus …read more […]