Trading Ideas

(Bloomberg) — Supply Lines is a daily newsletter that tracks Covid-19’s impact on trade. Sign up here, and subscribe to our Covid-19 podcast for the latest news and analysis on the pandemic.ByteDance Ltd. will be required to seek Chinese government approval to sell the U.S. operations of its short-video TikTok app under new restrictions Beijing imposed on the export of artificial intelligence technologies, according to a person familiar with the matter.AI interface technologies such as speech and text recognition, and those that analyze data to make personalized content recommendations, were added to a revised list of export-control products published on …read more […]

Shares in Dell Technologies (DELL) rose 6% in Friday’s trading, after the tech giant reported a solid earnings beat.Specifically, FQ2 Non-GAAP EPS of $1.92 beat Street estimates by $0.52, while GAAP EPS of $1.37 also topped forecasts by $1.59. Although revenue fell 2.8% year-over-year, at $22.8B it still beat Street expectations by $300M. Adjusted EBITDA was $3.1B- significantly higher than the consensus of $2.5B.“In Q2, we saw strength in the government sector and in education, with orders up 16 and 24 percent, respectively, as parents, teachers and school districts prepare for a new frontier in virtual learning” commented Jeff Clarke, …read more […]

Gilead Science’s (GILD) investigational antiviral Veklury (remdesivir) has now received expanded Emergency Use Authorization (EUA) from the FDA to treat all hospitalized patients with COVID-19. Previously the treatment was only authorized for patients hospitalized with severe COVID-19.“As we learn more about COVID-19 and we further establish the efficacy and safety profile of Veklury, we see benefit to making the drug available to patients at earlier stages of the disease” cheered GILD’s Merdad Parsey. The CMO added: “Today’s action by the FDA enables physicians to consider a broader range of eligible patients to potentially receive Veklury.”According to GILD, the expanded EUA …read more […]

Abbott Laboratories (ABT) is now holding trials to try and expand its rapid Covid-19 test to people who show no symptoms of the virus, ABT’s CEO Robert Ford has revealed to CNBC.“We are working on developing data for asymptomatic claims, so we are running our clinical trial, and we’ll eventually have data to be able to support that,” Ford told CNBC.“In the meantime, we see it being able to be deployed, because it doesn’t requirement an instrument … through the federal government, through the state governments, through schools, through employers, or even through retail clinics,” the CEO continued. “We think …read more […]

Morgan Stanley analyst Thomas Allen has downgraded DraftKings to Hold from Buy, citing increased competition and slowing momentum on legalization in several states. He also sees various risks to the upcoming NFL (National Football League) season that could be canceled due to COVID-19 related concerns. Shares of the online sports betting player plunged over 7% on Friday after the downgrade.The analyst downgraded DraftKings (DKNG) amid near-term risks. He wrote in a client note that the sports betting industry has become more competitive, “with numerous peers raising capital and operators looking to take first-mover advantage, so near-term losses could be much …read more […]

Shares of HP Inc. rose 6.2% on Friday after the personal computer maker reported stronger-than-expected fiscal 3Q results. The company’s quarterly results got a boost from strong PC demand driven by COVID-19 pandemic-induced online learning and work-from-home wave.On August 27, HP (HPQ) reported that 3Q revenues of $14.3 billion surpassed analysts’ expectations of $13.3 billion. Its adjusted EPS of $0.49 also beat Street estimates of $0.43.HP’s CEO Enrique Lores said, “We’re leveraging our leadership across consumer and commercial markets to capitalize on opportunities – from the essential role of the PC in an era of remote work and school to …read more […]

(Bloomberg Opinion) — From Monday there will be just one oil company in the Dow Jones Industrial Average — Chevron Corp. The removal of Exxon Mobil Corp. from the index after an uninterrupted presence since 1928 shouldn’t come as a surprise. It’s not the end of Big Oil, but it may signal the start of the beginning of the end.It may seem odd to remove one of only two oil companies in the index at a time when the shale boom has transformed America’s role in the global market. After all, the U.S. now produces more oil and more natural …read more […]

​AstraZeneca plc (NYSE:AZN) could easily acquire Gilead Sciences, Inc. (NASDAQ:GILD) Headlines: Market Dynamics May Inspire AZN To Re-Engage. A $200B+ Healthcare Juggernaut May Result. ​ Q2 2020 hedge fund letters, conferences and more Since June 8, 2020…When Speculation Bubbled About A Possible AstraZeneca-Gilead Sciences Combination [see vertical line in above chart]…The Following “Deal” Metrics Have Adjusted…Quite Dramatically […] …read more […]

If there was a “stock of the century” award, Amazon (AMZN) would be the favorite. Since 2001, AMZN has rocketed above $3,300, turning every $1,000 into just shy of $600,000. Obviously, anyone who got into Amazon early and held on is living the high life and deserves a round of applause. But now, it’s time to come to terms […] …read more […]

(Bloomberg) — President Donald Trump is cutting the cap on allowable steel shipments from Brazil, citing a slump in the U.S. market.In a proclamation issued late Friday, Trump amended a previous decision under the so-called Section 232 national security powers to lower the cap on allowable imports. The limits were set in 2018 as part of a deal between the nations to avoid tariffs that Trump applied to other countries.Trump cited a slumping American steel market, which has only accelerated amid shutdowns spurred by the coronavirus pandemic.“Imports from most countries have declined this year in a manner commensurate with this …read more […]

(Bloomberg) — Billionaire Jack Ma’s Ant Group is poised to pull off what could be the biggest initial public offering ever by simultaneously listing in Hong Kong and Shanghai. It’s said to be gunning for a valuation of $225 billion, making it the world’s fourth-largest financial company.A 2011 offshoot of Chinese giant Alibaba Group Holding Ltd., the firm has defined and dominates the Chinese payments market through its ubiquitous Alipay app. It also runs the giant Yu’ebao money market fund and the Huabei and Jiebei consumer lending units.Based in Hangzhou, a sprawling metropolis south of Shanghai, its ambitions run much …read more […]

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(Bloomberg) — Mick Mulvaney, a Trump administration veteran who served as acting White House chief of staff, is launching a hedge fund that aims to bet on financial services stocks.Mulvaney is starting the enterprise, Exegis Capital, with investor Andrew Wessel, a former portfolio manager at Sterling Capital Management. The pair discussed their plan at length in a podcast interview with S&P Global Market Intelligence released on Aug. 25.The long-short fund will capitalize on the duo’s knowledge of major regulatory changes that impact the financial services industry, they said on the podcast.Mulvaney, a former congressman, was appointed in March as the …read more […]

On CNBC’s “Fast Money Halftime Report,” Jon Najarian spoke about unusually high options activity in Roku Inc (NASDAQ: ROKU). Traders were buying the September 4, $175 calls on Friday. They bought 4,000 contracts right away and then the real buying came in and its volume increased to over 14,000 contracts, explained Najarian. He owns these calls and he is probably going to take off half since they have already doubled.Jim Lebenthal bought Roku during the show. He thinks it is a beneficiary of the stay-at-home economy. It has trailed Nasdaq and other stay-at-home stocks and it is still not trading …read more […]

AT&T (NYSE: T), has hired Goldman Sachs Group Inc. (NYSE: GS) to see through the process of offloading its stake in DirecTV, according to a Wall Street Journal report.What Happened: AT&T acquired DirecTV in 2015, and the total purchase price including assumed debt was about $67.1 billion.With the rise of various digital and OTT platforms like Netflix Inc. (NASDAQ: NFLX) there has been a steady decline in the subscriber base of DirecTV, and this is said to be the reason AT&T is exploring a sale. Advisors from Goldman Sachs and officials from AT&T have been in talks with private equity …read more […]