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Business News
Bankrupt Hertz to seize on speculation frenzy with $1 billion stock sale
Hertz Global Holdings Inc said it won bankruptcy court approval on Friday to sell up to $1 billion in stock, capitalizing on a remarkable rally in its shares driven by speculators defying conventional market wisdom.
Trading Ideas
Boeing (BA) Stock Probably Rallied Too Far, Too Fast
Despite the ongoing 737 Max issues and a decimated customer base, Boeing (BA) has already rallied back to $200 from below $90. Sure, the stock has a 52-week high near $400, but the airline no longer has any new commercial passenger jet orders after seeing their backlog as constrained due to production limits.Boeing has borrowed the money to survive the near global shutdown of air travel, but the company has a very weak customer base here. Without a substantial rebound in passenger travel, the aircraft manufacturer could see the backlog plunge in coming quarters in a negative sign for the …read more […]
Business News
Canada spy agency warned of ‘shock waves’ from arrest of Huawei founder’s daughter
Canada’s intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global “shock waves” and seriously affect ties with China, just before her detention in Vancouver on a U.S. extradition request, new court documents show.
Business News
Wall Street Week Ahead: Investors bet bounce in value stocks will stick
As the U.S. economy begins to emerge from the sharp slowdown during the coronavirus pandemic, some fund managers have been drawn to value stocks, a sector that underperformed during the recent rally.
Business News
U.S. eases criminal record provision in coronavirus business loan program
Federal authorities administering business payroll loans as part of U.S. coronavirus relief efforts on Friday eased rules prohibiting lending to business owners with criminal records, allowing some with no convictions in the past year to access funds.
Business News
Lawmakers label British Airways ‘national disgrace’ over jobs
British Airways was labelled a “national disgrace” by lawmakers for its treatment of employees on Saturday, adding to pressure on the airline as it juggles job cuts and new quarantine rules.
Trading Ideas
A Coronavirus Conundrum You Can Bank On
I don’t know about you, but my life looks a lot different today than it did three months ago.
Before the COVID-19 pandemic shut down stores, restaurants and my office, I left my house most days. And I was spending money almost daily.
Today, I get in my car and go spend money just once or twice a week.
As a result, my savings account has changed.
Yours probably has too…
The balances in American savings accounts are growing. In fact, Americans are stashing away cash at record rates. It’s one of the most interesting side effects of COVID-19 I’ve seen yet.
But it makes sense. …read more […]
Trading Ideas
FuelCell Energy, Inc. (FCEL): Hedge Funds Going Back and Forth
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]
Business News
Airbnb partners with Brazil virus hotspot Sao Paulo on post-pandemic tourism
Home rental firm Airbnb struck a partnership with Brazil’s Sao Paulo state to encourage tourism once the novel coronavirus crisis has passed, a company executive said on Friday.
Business News
Bankrupt Hertz wins approval to offer up to $1 billion in shares
A bankruptcy judge on Friday approved Hertz Global Holdings Inc’s proposal to sell up to $1 billion in shares, as the car rental firm looks to cash in on a huge speculative rise in its share price since filing for bankruptcy late last month.
Trading Ideas
The Logic Behind GrubHub Acquisition? This Analyst Is Struggling to Find Some
GrubHub (GRUB) has sent Uber on its way, as it will sign on the dotted line with European company Just Eat Takeaway.Yesterday, the Nethe rlands-based food-delivery company announced that it had made an agreement with Grubhub to purchase the US food delivery app. The all share deal is worth $7.3 billion and not only represents consolidation of a food delivery powerhouse – the largest food delivery service outside China – but a coup for Just Eat, as up until yesterday, Uber Eats and GrubHub had been in talks regarding a possible merger.According to Just Eat, the deal will …read more […]
Trading Ideas
There Won’t Be A Second Wave
I predicted the arrival of the coronavirus pandemic pretty accurately (see the predictions in this article). We took a defensive stance in our portfolio at the end of February, and switched back to a neutral stance right after the market bottom. For the past couple of months, we have been expecting easing of restrictions and […] …read more […]
Trading Ideas
The Fed soaked markets with too much liquidity: Thornburg Portfolio Manager
The Federal Reserve decided to keep rates near zero and is planning to keep them that way through 2022. However the Fed could decide to utilize the ability to set rates below zero despite it spelling trouble for the U.S. Portfolio Manager and Managing Director at Thornburg Investment Management Bimal Shah joins The Final Round panel to discuss.
…read more […]
Business News
Zoom hits political turbulence in Washington, Beijing; lobbyists ready
Zoom Video Communications, whose remote meeting app made the obscure California company a hub for global communications during the coronavirus pandemic, now finds itself fighting political battles in Washington and Beijing.