Trading Ideas

Today we will run through one way of estimating the intrinsic value of Advanced Micro Devices, Inc. (NASDAQ:AMD) by… …read more […]

The German payments company says about a quarter of the money on its books might not exist. …read more […]

Sad news last night. An old friend is dead.
Life was too hard, so he took it.
We went to school with him. Back then, we envied him. He was the star of the football team, was class president… and could tell a great joke.
He was the president of his fraternity, got his master’s degree and had a good career doing good things.
And yet…
Sadly, what happened to him is happening a lot these days.
Few have the guts to talk about it.
Asset Protection
We’ve focused a lot on the notion of money in recent weeks. It’s been with great intent. There are big opportunities …read more […]

German payments company Wirecard said that its auditor had refused to sign off on its 2019 accounts, sending its shares 60% lower on Thursday as it warned the delay could mean billions in loans are called in as early as Friday. Wirecard said that auditor EY had informed it that sufficient evidence could not be found for 1.9 billion euros ($2.1 billion) in cash balances on trust accounts – or around a quarter of its balance sheet total. There were indications, Wirecard added, that these balances were “spurious” and had been provided “in order to deceive the …read more […]

Top news and what to watch in the markets on Thursday, June 18, 2020. …read more […]

(Bloomberg) — The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S.Futures in London and New York gained, while Brent for August was trading above the September contract, a sign of scarcer supply in Europe’s physical market. Oil prices in the North Sea and Russia has soared in recent days, while the amount of crude stored on ships is falling.“The physical market is strong,” said Ben Luckock, co-head of oil trading at Trafigura Group Ltd. “There’s good demand for North Sea …read more […]

Shares in debt-strapped Hertz Global Holdings (HTZ) dropped 7% in pre-market trading after the car rental company suspended a planned $500 million share offering.The stock sank to $1.86 in pre-market trading. Bankrupt Hertz said it withdrew the offering until further notice after the U.S. Securities and Exchange Commission (SEC) said that it has put its share prospectus under review.“After discussions with the [SEC] Staff, sales under the Program were promptly suspended pending further understanding of the nature and timing of the Staff’s review,” Hertz said in a SEC filing.The share offering was announced after a bankruptcy judge last Friday approved …read more […]

Oil prices were broadly stable on Thursday as Brent erased losses in early European trading ahead of a meeting of OPEC members and their allies against the backdrop of demand concerns over new coronavirus cases in China and elsewhere. Brent crude futures were up 2 cents at $40.73 a barrel at 0725 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 14 cents to $37.82 a barrel. …read more […]

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The recommendation was based on corporate governance concerns due to an insurance arrangement with Chief Executive Officer Elon Musk after Tesla’s decision to not renew its directors and officers’ liability policy due to high premiums quoted by insurers, Glass Lewis said. Musk had agreed to personally provide coverage to such a policy for a year, Tesla disclosed in a regulatory filing in April. “We are concerned that this D&O arrangement gives the company’s independent directors a direct, personal financial dependency upon the CEO they are tasked with overseeing,” Glass Lewis said. …read more […]

(Bloomberg) — JD.com Inc. has bagged a record $32 billion of sales during the country’s biggest online shopping gala of the post-pandemic era, suggesting China’s nascent consumer spending recovery has legs.JD and larger rival Alibaba Group Holding Ltd. this month put Chinese consumption to its first major test since Beijing locked down the country in February. China’s largest retailers are hoping the “6.18” summer extravaganza that wraps up Thursday has unleashed pent-up demand, making up for lost sales during a coronavirus-stricken March quarter. JD said it had racked up 228.5 billion yuan ($32 billion) of transactions as of mid-morning Thursday, …read more […]

(Bloomberg) — Asian stocks and U.S. equity futures dropped, while the yen and Treasuries advanced, as optimism over policy stimulus gave way to recovery concerns caused by rising infection numbers in some locations.Shares fell in Japan, Australia and Hong Kong as the global equity rally seen earlier this week continued to show signs of fatigue. S&P 500 Index futures retreated after the index swung between gains and losses for most of Wednesday on light volume before closing in the red. The yuan and Chinese bond yields traded flat, erasing earlier losses seen in the wake of China’s central bank cutting …read more […]

It’s no great secret that cruise line stocks have been some of the biggest victims of the COVID-19 pandemic.From a mid-January high near $52 a share, Carnival Corporation (CCL) stock lost nearly 82% of its value through mid-March! Royal Caribbean (RCL) was about as hard-hit, falling 83% the same time period. And Norwegian Cruise Line (NCLH), perceived to be the weakest of the three big publicly-traded cruisers, lost a staggering 87%.More than just victims of consumers unable to cruise because they were stuck at home under stay-at-home orders, or unable to serve patrons because individual state governments had told them …read more […]

(Bloomberg) — JD.com Inc. soared about 6% in its Thursday debut in Hong Kong, a solid start that underscores strong investor appetite for a growing line-up of Chinese tech giants seeking to list closer to home.The Chinese online retailer, which already has stock listed in the U.S., opened at HK$239 after raising $3.9 billion in its Hong Kong share sale. That’s after its shares changed hands in gray markets at a roughly 5% premium to its HK$226 listing price in the days prior.JD debuts as tensions between Washington and Beijing threaten to curtail Chinese companies’ access to U.S. capital markets, …read more […]

Some good news just came Apple’s (AAPL) way. According to Wedbush analyst Daniel Ives, there finally appears to be some clarity regarding the highly anticipated launch of Apple’s flagship product, the iPhone 12 – its first to boast 5G capabilities.“While we were hearing of some delays over the past few months that would have pushed this key product cycle into the October/November timeframe, we now believe the iPhone 12 will be in late September with the smartphones ready to hit the shelves globally in early October,” said Ives.Ives was previously under the impression Apple was likely to push the launch …read more […]