Year: 2020

(Bloomberg) — Daimler AG expects to generate an operating profit this year, after second-quarter results signaled the maker of Mercedes-Benz cars weathered the unprecedented industry slump better than feared.Daimler anticipates earnings before interest and taxes and free cash flow to be positive in 2020 but lower than last year, the Stuttgart, Germany-based manufacturer said Thursday in a statement. It previously forecast deliveries, revenue and profit for the group to decline in 2020.“We are now seeing the first signs of a sales recovery,” Daimler Chief Executive Officer Ola Kallenius said. The company said the outlook is based on an assumption that …read more […]

U.S. gold futures rose 0.1% to $1,867. “With tension between the United States and China rising, U.S. bond yields continuing to edge lower, and a weaker dollar very much in evidence, the case for higher gold prices remains strong,” said Jeffrey Halley, a senior market analyst at OANDA. In a marked escalation between the world’s two biggest economies, the United States gave China until Friday to close its consulate in Houston amid accusations of spying, which also hit risk sentiment. …read more […]

Digital sales for the quarter – including customers who order ahead through Chipotle’s mobile app to pick up in special drive-thru “Chipotlanes” – grew 216% to nearly 61% of total sales. In the third quarter, margins and earnings per share will likely remain bumpy, executives said during a conference call. With more Americans staying home due to the coronavirus health crisis, Chipotle has relied heavily on online orders in recent weeks. …read more […]

Tesla said it earned net income of $104 million from April to June, or $0.50 per share, marking the first time the company has posted a profit for four straight quarters, a condition for it to be considered for the stock index of the largest U.S. companies. The performance is a major accomplishment for Chief Executive Elon Musk, whose mission of leading the global auto industry into an electric future has frequently been questioned by investors who doubted Tesla’s viability. Many analysts believe the rally has been fueled in part by expectations of Tesla’s imminent inclusion in the …read more […]

(Bloomberg) — The hottest stock in Asia since markets hit their nadir in March amid the peak of the coronavirus impact is an Australian payment company that is seeking to cash in on the global change in spending habits.Installment payment platform operator Afterpay Ltd. has surged 713% to become the top performer on the 1,574 member MSCI Asia Pacific Index since the gauge’s March 23 low, according to data compiled by Bloomberg. Flowing government stimulus, a shift to digital payments and stuck-at-home shoppers have bolstered expectations for the firm as it expands across the U.S., U.K. and Canada.Afterpay’s market value …read more […]

Tesla’s $104 million second quarter profit came from the selling of pollution credits, not cars. …read more […]

(Bloomberg) — BlackRock Inc. Chief Executive Officer Larry Fink sold $24.2 million of stock in the world’s largest asset manager, bringing his sales this year to $74.4 million.Fink disposed of 41,706 shares — about 5% of his stake in the business — at an average price of $580.29 on July 21, according to a regulatory filing. The filings didn’t indicate that his sales this year were made under a pre-scheduled trading plan.The latest disposal comes as corporate insiders, whose buying accurately signaled the market bottom in March, are now mostly sellers. Almost 1,000 corporate executives and officers have sold shares …read more […]

The digital dollar again appeared during a Senate hearing. However, it wasn’t the focus of the hearing, but rather just another tool that can be used to maintain U.S. hegemony. …read more […]

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(Bloomberg) — Elon Musk has a plea for mining companies: “Please mine more nickel.”“Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way,” said Musk, chief executive officer of the electric-carmaker, during a second-quarter earnings call.Musk’s plea comes as one of Japan’s general trading giants is about to take a roughly $500 million writedown on a nickel project in Madagascar because of low prices and the coronavirus pandemic.Supplies of battery-grade nickel — a key component in the cathode of an electric vehicle’s battery — could run …read more […]

As you know, I’ve been tracking the trading moves of popular “blank check” acquisition companies.
Also known as special purpose acquisition companies (SPACs), they are formed to raise capital through an initial public offering (IPO). They then use the cash equity capital from the IPO to merge with a private company to take it public.
First came Virgin Galactic (NYSE: SPCE), and then we had Tortoise Acquisition Corp. (NYSE: SHLL) – and both were huge Trade of the Day winners.
As a review, here are those issues…

“Time to Own the ‘Tesla of Space’“
“Is This $18 Stock the Next Nikola?“

What SPACs could be next …read more […]

We have been harnessing the wind’s energy for thousands of years. But we’ve been using it to generate electricity for only the last few decades.
Initially, wind power was considered a science experiment at best.
But not anymore.
Today, it’s the cheapest form of renewable energy. In fact, wind power is the cheapest form of energy, period.
Wind is cheaper than nuclear power, coal and, now, even natural gas.
Wind Demand Is Growing
Until 10 years ago, utilities were the only buyers of wind-generated electricity.
Since then, a few things have happened to change the demand for wind.
Many climate-conscious companies began to look for ways to reduce …read more […]

Stocks are aiming to build on Wednesday’s gains, with investors focused on the U.S.’s unchecked coronavirus crisis and jobless claims. …read more […]

While stock picking isn’t easy, for those willing to persist and learn, it is possible to buy shares in great… …read more […]

Tesla CEO Elon Musk said Wednesday that the company was building its new factory near Austin, Texas. …read more […]