Trading Ideas
Carl Ichan goes mall shopping and looks to buy short
Carl Icahn placing big bets against mall owners. …read more […]
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Business News
NZ cenbank ‘looks closely’ at Australian regulator allegations against Westpac
New Zealand’s central bank said on Wednesday that it would look closely at findings by Australia’s financial crime watchdog calling Westpac Banking Corp’s anti-money laundering oversight “deficient”.
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RPT-ASIA COPPER WEEK-Freeport sees sharp drop in copper treatment charges next year
Freeport McMoRan Inc expects treatment and refining charges for copper concentrates in 2020 to be “well below” last year’s levels as Chinese smelting capacity is expected to rise, a senior company executive said on Tuesday. For 2020, treatment charges (TC) of around $60 per tonne and refining charges (RC) of 6 cents per lb would be a “reasonable level to settle at”, Javier Targhetta, president of Atlantic Copper and senior vice president for marketing and sales at Freeport told Reuters in an interview during Asia Copper Week in Shanghai on Tuesday. Top global miners like Freeport and Chinese …read more […]
Business News
Australia’s Westpac accused of 23 million money laundering breaches
Australia’s Westpac Banking Corp was accused on Wednesday of 23 million breaches of anti-money laundering rules, with a regulator saying the financial giant enabled payments from “high risk” countries and convicted child sex offenders.
Business News
U.S. housing outlook improves but not breaking new ground: Reuters poll
The rise in U.S. home prices will continue to outpace consumer inflation until at least 2022, albeit at a slower pace than forecast three months ago, despite a majority of analysts polled by Reuters predicting an improvement in activity in the coming year.
Business News
Asia shares numbed by trade noise, oil takes a spill
Asian shares lumbered lower on Wednesday as the Sino-U.S. trade talks produced nothing but a stream of conflicting messages, while concerns about a glut of supply saw oil prices suffer their biggest spill in seven weeks.
Business News
After meeting AFL-CIO, Pelosi says USMCA must be enforceable for workers to win passage
U.S. House of Representatives Speaker Nancy Pelosi on Tuesday conditioned her support for a new U.S.-Mexico-Canada trade deal on better enforcement of its labor provisions, defying pressure by the Trump administration to get the deal done quickly.
Business News
Morgan Stanley pushes advisers to boost revenue in 2020 pay plan: sources
Morgan Stanley told financial advisers on Tuesday that they could be paid less if they do not generate more revenue or get customers to sign up for comprehensive financial plans next year, people familiar with the bank’s 2020 compensation plan said.
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Oppenheimer Sees Doom and Gloom in Amarin (AMRN) Stock
Buoyed by optimism over the label expansion of Amarin’s (AMRN) flagship drug, Vascepa, the fish oil drug maker’s stock has run off to the races — up over 60% year-to-date. But how long can that last? This afternoon, US investment giant Oppenheimer predicted an imminent crash in Amarin shares.Oppenheimer analyst Leland Gershell and his team joined a small, but vocal camp of bearish folks waving investors away from Amarin stock. Gershell initiated coverage on AMRN with an “underperform” rating and a $7.00 price target, predicting the stock will drop about 70% in the next 12 months. (To watch Gershell’s track …read more […]
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Chris Davis' 3rd-Quarter Buys
Update on the guru’s new buys for the quarter Continue reading… …read more […]
Business News
Alibaba will raise up to $12.9 billion in Hong Kong listing: sources
Alibaba will raise up to $12.9 billion in its Hong Kong secondary listing, two sources with direct knowledge of the matter said.
Trading Ideas
Alibaba will raise up to $12.9 billion in Hong Kong listing: sources
The Chinese e-commerce giant has given guidance to prospective institutional investors that its shares will price at $HK176 each, which is a 2.8 per cent discount to the shares’ closing price in New York on Tuesday. Alibaba did not immediately respond to a Reuters request for comment. …read more […]
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UPDATE 1-Qualcomm expects 5G phone sales to double in 2021
Qualcomm Inc expects global smartphone makers to ship 450 million 5G handsets in 2021 and another 750 million in 2022, the world’s largest supplier of mobile phone chips said on Tuesday. Qualcomm said 5G adoption will be faster than 4G due to the timing of commercialization of the technology in China and availability of chipsets across different price tiers. Going by Qualcomm’s previous forecast of a range between 175 million and 225 million 5G devices for next year, the 2021 forecast suggests 125% growth from the midpoint of the 2020 outlook. …read more […]
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UPDATE 1-Influential U.S. doctors group calls for ban on vaping products
The American Medical Association (AMA) on Tuesday called for a total ban on all e-cigarette and vaping products that are not approved by the U.S. Food and Drug Administration as smoking cessation tools. The AMA is urging regulators and legislators at the state and local levels to ban the sale and distribution of all e-cigarette and vaping products, and stipulates that those products should only be available by prescription. …read more […]
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Morgan Stanley pushes advisers to boost revenue in 2020 pay plan -sources
Morgan Stanley told financial advisers on Tuesday that they could be paid less if they do not generate more revenue or get customers to sign up for comprehensive financial plans next year, people familiar with the bank’s 2020 compensation plan said. Morgan Stanley made several changes to the incentive structure, including its 16-tier “pay-out grid” that determines what percentage of fees and commissions brokers get to take home. Anyone generating less than $5 million in annual revenue will have to deliver another 10% to reach the payout they received in 2019, according to material reviewed by Reuters. …read more […]