No Picture
Trading Ideas

Oil Giant Aramco Sticks With Dividend Even as Profit Crashes

(Bloomberg) — Saudi Arabia’s state-controlled oil giant pressed ahead with a plan to pay $75 billion in dividends this year despite crashing profit and a surge in debt, as the kingdom battles a widening budget deficit.Saudi Aramco said net income for the three months ending in June fell to 24.6 billion riyals ($6.6 billion), down 73% from a year earlier, after crude prices collapsed. Aramco will pay a dividend of $18.75 billion for the quarter, most of it to the government, which owns around 98% of the company’s stock.Aramco’s performance and demand for energy will probably improve over the rest …read more […]

No Picture
Trading Ideas

Amarin’s Vascepa To Take Part In Covid-19 Study In Adults With Heart Disease

Amarin announced on Friday that Kaiser Permanente Northern California (KPNC) is initiating a trial to study the potential of its lead product Vascepa to be used as a treatment to prevent or reduce the risk of complications from viral respiratory illnesses such as COVID-19 in older adults with heart disease.Biotech Amarin (AMRN) said that that the MITIGATE COVID-19 study, will test the effects of Vascepa on viral upper respiratory infection (URI) rates and clinical outcomes, especially involving acute respiratory SARS-CoV-2 infection, in adults with atherosclerotic cardiovascular disease (ASCVD) who are at elevated risk of experiencing moderate to severe COVID-19.The trial …read more […]

No Picture
Trading Ideas

FedEx Gains 7% On Delivery Rate Hikes, Stephens Lifts PT

Shares of FedEx rose 6.6% on Friday after the courier company announced an increase in surcharge on international deliveries across certain destinations.An unprecedented surge in delivery volumes amid the COVID-19 pandemic has allowed FedEx (FDX) to raise its rates. Meanwhile, the revised surcharges are expected to mitigate the impact of higher costs that resulted from restrictions imposed by countries to contain the spread of the coronavirus pandemicOn August 6, FedEx said it will double the per kilo surcharge on parcels from Hong Kong to the US effective from August 10. It will also increase the surcharge on parcels from Taiwan …read more […]

No Picture
Trading Ideas

Potential Deal for TikTok’s US Operations Could be Compelling Strategic Fit for Microsoft, Target Price $230: Morgan Stanley

“Assuming a deal was announced before the September 15th deadline that closed on December 31st, and Microsoft acquired the U.S. business only, which illustratively could grow from $500 million in 2020 to $3 billion in 2021 (500%), TikTok could add 2% inorganic growth to Microsoft’s model in CY21e,” said Keith Weiss, equity analyst at Morgan Stanley. …read more […]

No Picture
Trading Ideas

Saudi Arabia Turns Off America’s Oil Taps Again

(Bloomberg Opinion) — For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand.Weekly U.S. oil inventory data — usually published on a Wednesday and covering the period up to the previous Friday — is routinely pored over by oil analysts and traders alike. Despite their shortcomings, the figures give the most up-to-date picture of changes in the oil balance and influence trading decisions and crude prices around …read more […]

No Picture
Trading Ideas

Eastman Kodak's $765 million U.S. loan agreement on hold after recent allegations

Earlier this week, senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan. “Recent allegations of wrongdoing raise serious concerns,” DFC said late on Friday in a tweet. …read more […]

No Picture
Trading Ideas

Twitter expressed interest in buying TikTok's U.S. operations - sources

It is far from certain that Twitter would be able to outbid Microsoft Corp and complete such a transformative deal in the 45 days that U.S. President Donald Trump has given ByteDance to agree to a sale, the sources said on Saturday. The news of Twitter and TikTok being in preliminary talks and Microsoft still being seen as the front-runner in bidding for the app’s U.S. operations was reported earlier by the Wall Street Journal. …read more […]

No Picture
Trading Ideas

Kodak’s $765 Million Government Loan on Hold Pending Probe

(Bloomberg) — The federal agency that announced a $765 million loan to Eastman Kodak Co. less than two weeks ago said the offer is on hold pending probes into allegations of wrongdoing.“Recent allegations of wrongdoing raise serious concerns,” the U.S. International Development Finance Corporation said in a tweet Friday night. “We will not proceed any further unless these allegations are cleared.” Congress and the Securities and Exchange Commission are investigating the deal, and Kodak’s board said Friday it is also opening a review of the loan disclosure.The development bank loan announced July 28 was the first of its kind under …read more […]

No Picture
Trading Ideas

Notable Insider Buys at Allovir, Xerox And Many More

* Insider buying can be an encouraging signal for potential investors during periods of uncertainty. * A notable activist investor added to his stake in an old-school tech company. * Health care tech companies saw some insiders buying last week.Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty.Insiders continued to add shares despite overall market volatility and economic …read more […]