Year: 2020

Delta Air Lines warned on Tuesday it will be more than two years before the industry sees a sustainable recovery from the “staggering” impact of the coronavirus pandemic, with demand largely tracking the curve of infections in different places. “We’re at a stall right now,” CEO Ed Bastian told Reuters, saying demand that built up over June for travel to places like Las Vegas, Florida or New York had suffered due to fresh cases and quarantines, while picking up to some mountain and international destinations. Atlanta-based Delta posted a $2.8 billion adjusted net loss, or $4.43 per share, for the …read more […]

What is going to happen to cash?
Like me, you’re undoubtedly seeing every kind of prediction under the sun.
After all, the government has created $3 trillion to $4 trillion out of thin air in a couple of months… there are continuing hurdles in social norms… and there are the responses from the Fed…
All of these and more weigh on our future.
What if pensions are wiped out? What if cities burn? What if factory farming fails?
Suddenly I’m having many conversations with folks about a troubling future and how to prepare for it. The prepper movement – which launched with Y2K – is …read more […]

(Bloomberg) — Cruise ship operator Carnival Corp. is back in the debt markets this week, adding around $1 billion to the nearly $7 billion it’s borrowed since the coronavirus pandemic devastated the international tourism trade.The world’s largest cruise group is selling bonds to international investors in both euros and U.S. dollars, according to people familiar with the matter who asked not to be identified because the information isn’t public yet.The deal will come at a price. Early discussions with potential investors have suggested yields of around 10.5% on the euro debt and 11% on the dollar portion, according to one …read more […]

Microsoft’s (NASDAQ:MSFT) stock is up by a considerable 19% over the past three months. Given that the market rewards… …read more […]

…read more […]

Top news and what to watch in the markets on Tuesday, July 14, 2020. …read more […]

China will put sanctions on Lockheed Martin for involvement in the latest U.S. arms sale to Chinese-claimed Taiwan, China said on Tuesday, adding tension to its troubled relationship with the United States. The U.S. weapons maker is the main contractor for a $620 million upgrade package for Taiwan’s Patriot surface-to-air missiles, which the U.S. government approved last week. …read more […]

Shares in Aldeyra Therapeutics (ALDX) are climbing 10% in Tuesday’s pre-market trading following a SEC filing showing that Joseph Edelman’s Perceptive Advisors now holds a 19.1% in the company.According to the filing, Perceptive snapped up 3.2 million shares at an average price of $4.25 on Thursday, taking its indirect beneficial ownership to a total of 6,285,458 shares.The New York-based hedge fund firm has $5 billion under management, and was founded by Edelman in 1999 to focus on investing in biotech stocks. Edelman now has a net worth of $1.2 billion.Shares in Aldeyra are down 11% year-to-date, but analysts have a …read more […]

…read more […]

Roche has struck a $1.7 billion cancer drug pact with Blueprint Medicines, it said on Tuesday, as advances in genetic testing for rare mutations drive lucrative deals for expensive treatments. The Swiss drugmaker will pay $675 million in cash and make a $100 million equity investment in Blueprint for rights to pralsetinib, which could gain U.S. approval against so-called RET-altered non-small cell lung cancer in November. U.S. company Blueprint, which has been working with Roche since 2016, could also receive up to $927 million in milestone payments, plus royalties on sales outside the United States, Roche said in …read more […]

“This solution will save the telecommunications industry potentially tens of billions of euros in site engineering and re-visit costs,” Nokia said in a statement. Nokia said the software upgrade was immediately available for about one million radios, and the reach would grow to 3.1 million by the end of the year and to over 5 million in 2021. …read more […]

Shares in Mohawk Industries (MHK) dropped almost 5% in extended market trading on Monday after the flooring company disclosed that it is being sued for allegedly “fabricating” sales and overproducing products to report higher operating margins, among other violations.The stock declined to $72.99 in Monday’s after-market trading. According to a SEC filing, an amended class action complaint for violations of federal securities laws was filed against Mohawk and its CEO Jeff Lorberbaum in the Northern District of Georgia on June 29. The complaint alleges that Mohawk fabricated revenues by attempting delivery to customers that were closed and reporting these as …read more […]

The U.S. Air Force has awarded Boeing (BA) a nearly $1.2 billion contract to build the first lot of eight F-15EX advanced fighter jets to help the service meet its capacity requirements and add capability to its fighter fleet. The award also covers support and one-time, upfront engineering costs.Already under construction at the Boeing F-15 production facility in St. Louis, the first two jets deliver next year. Future plans call for as many as 144 aircraft, says Boeing.This is part of a massive indefinite-delivery/indefinite-quantity contract from the US Air Force with a ceiling value of nearly $23 billion for the …read more […]

(Bloomberg) — Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among OPEC+ members over cheating of quotas are being resolved.Saudi Energy Minister Prince Abdulaziz Bin Salman spoke to his Iraqi counterpart Ihsan Abdul Jabbar, according to a joint statement from their offices on Monday. The prince said he was satisfied with Baghdad’s improved compliance in June.Prince Abdulaziz also had a call with Nigeria’s de facto oil minister, Timipre Sylva. The Saudi minister stressed the importance of all countries adhering …read more […]

Trump has justified his public assurances that the virus will quickly go away by arguing he needs to be “a cheerleader” for the United States to avoid creating “havoc and shock.” The United States has the highest number of confirmed coronavirus infections and deaths in the world. “We simply never believed ‘what happens in China stays in China,'” Singh wrote in a letter to investors last week that was seen by Reuters. …read more […]