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Trading Ideas

Tesla Plans to Make Batteries Around the Clock in Bay Area

June 25, 2020 admin Comments Off on Tesla Plans to Make Batteries Around the Clock in Bay Area

(Bloomberg) — Tesla Inc. is planning to expand a battery-research facility in the San Francisco Bay Area, adding manufacturing capabilities that would run 24 hours a day.The electric-car maker laid out its plans in documents filed with the city of Fremont, California, where the facility is located. It’s near Tesla’s auto factory and would employ 470 workers.The plans were filed earlier this year but surfaced weeks after Chief Executive Officer Elon Musk, in a contentious battle with Alameda County over coronavirus-prompted stay-at-home orders, threatened to yank the company’s headquarters from the Golden State.Read More: Lockdown Strains Relations Between California and …read more […]

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Occidental Plans First Junk Bond Sale to Fund Debt Buybacks

June 25, 2020 admin Comments Off on Occidental Plans First Junk Bond Sale to Fund Debt Buybacks

(Bloomberg) — Occidental Petroleum Corp. is selling new high-yield debt to fund its planned buyback of up to $1.5 billion of bonds maturing in the coming years as it seeks to tackle its wall of upcoming maturities.The Houston-based company is issuing five-, seven- and 10-year unsecured notes to fund its repurchase offer and refinance existing debt, according to a person familiar with the matter, who asked not to be named because the offering is private. Occidental said in a regulatory filing Thursday that it may take a $6 billion to $9 billion writedown in the second quarter as it deals …read more […]

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GNC Jumps After Bankruptcy Filing, Defying Warning of a Wipeout

June 25, 2020 admin Comments Off on GNC Jumps After Bankruptcy Filing, Defying Warning of a Wipeout

(Bloomberg) — Here we go again. A day after filing for bankruptcy protection, shares of GNC Holdings Inc. had their biggest gain in weeks.GNC jumped as much as 71% in New York on Thursday. That’s the biggest gain since June 8, with the beleaguered stock briefly trading for over $1 a share — the highest in more than a week. It’s happening even though the company’s turnaround plan warns shareholders they’ll be wiped out.The move will likely remind investors of the bizarre trading this month in Hertz Global Holdings Inc. Its stock rose almost tenfold after the car renter filed …read more […]

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How to Achieve Financial Freedom

June 25, 2020 admin Comments Off on How to Achieve Financial Freedom

You may be wondering how to achieve financial freedom. After all, it would be nice to be free from any and all money troubles. But how do you get there?
I may have some bad news for you: it’s going to take a lot of patience, sweat and hard work. But here’s the good news: if one is willing to put in that patience, sweat and hard work, anyone can achieve financial freedom. Even you.
In this article, we’ll dive deeper into how you can there. There are many steps it will take for you to be truly financially free. But in …read more […]

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Should You Be Tempted To ‘Sell’ Valaris PLC (VAL) Stock

June 25, 2020 admin Comments Off on Should You Be Tempted To ‘Sell’ Valaris PLC (VAL) Stock

Horos Asset Management recently released its Q1 2020 Investor Letter, a copy of which you can download here. Horos Value Iberia fell by -35.1% compared to -27.6% of its benchmark index. On the other hand, Horos Value Internacional was down by -30.2% compared to -19.6% of its benchmark index. You should check out Horos Asset […] …read more […]

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Hedge funds pocket $1.7 billion as Wirecard goes bust

June 25, 2020 admin Comments Off on Hedge funds pocket $1.7 billion as Wirecard goes bust

Wirecard shares crashed to 2.5 euros on Thursday from 104.5 euros a week ago, before the company revealed a $2.1 billion hole in its accounts. Together, the 10 hedge funds have made hundreds of millions between the company announcing its mammoth accounting hole on June 18 and Thursday, when it applied for insolvency. London-based TCI has made a profit of 173.6 million euros, while Marshall Wace and Greenvale have made 146.5 million and 110.1 million, respectively, according to Reuters calculations. …read more […]

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Occidental warns of up to $9 billion asset writedown on bleak oil price outlook

June 25, 2020 admin Comments Off on Occidental warns of up to $9 billion asset writedown on bleak oil price outlook

The company separately said it would buy back up to $1.5 billion worth of senior notes due in 2021 and 2022 as it tries to reduce its debt, which ballooned to $40 billion after an ill-timed acquisition of Permian producer Anadarko last year. Occidental said it expects preliminary oil and gas production from continuing operations for the second quarter to lean toward the high-end of range of 1.3 million-1.4 million barrels of oil equivalent per day (mboed). The Anadarko purchase saddled Occidental with a huge debt and the oil-price crash has cut the value of assets Occidental picked …read more […]

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Macy’s Cuts 3,900 Corporate Jobs as Layoffs Hit Headquarters

June 25, 2020 admin Comments Off on Macy’s Cuts 3,900 Corporate Jobs as Layoffs Hit Headquarters

(Bloomberg) — Macy’s Inc. announced plans to slash thousands of back-office jobs in a striking admission that the reeling retail sector won’t be returning to the good old days anytime soon.The restructuring, including the elimination of about 3,900 corporate and management jobs, is expected to save the company $365 million this fiscal year, then about $630 million a year going forward, it said in a statement.“We know that we will be a smaller company for the foreseeable future, and our cost base will continue to reflect that moving forward,” Chief Executive Officer Jeff Gennette said.Shares fell as much as 4.2% …read more […]