Trading Ideas

(Bloomberg) — Tesla Inc. will buy cobalt from from Glencore Plc, the world’s biggest miner of the metal, as the carmaker looks to avoid a future supply squeeze on the key battery metal, a person familiar with the matter said.The contract will help Tesla shore up its cobalt supply for new plants in China and Germany, said the person, who asked not to be identified as the details are private. The opening of Tesla’s so-called gigafactory in China this year has helped propel its shares to a record, as investors turn bullish on Elon Musk’s ambition to transform the company …read more […]

Fracking pioneer Chesapeake Energy Corp (CHK) is preparing to file for bankruptcy as soon as this week, three people familiar with the matter have told Reuters.According to the Reuters sources, CHK is now wrapping up negotiations for a $900 million debtor-in-possession loan. It is also discussing with creditors the potential to “roll up” its existing debt and make it part of the bankruptcy loan, bringing the total debtor-in-possession financing closer to $2 billion, the sources said.At the same time the company is also looking for an equity infusion from creditors. Chesapeake plans to file for bankruptcy on Thursday, but if …read more […]

As economies reopen and border restrictions lift, Delta (DAL) will add almost 1,000 flights system-wide in July, the airline has now announced.It revealed that it has implemented several measures to encourage extra space and has capped cabin seating at 60% in the main cabin and 50% in first class and blocking middle seats until the end of September.“Confidence in a safe travel experience is key to a successful recovery,” said Joe Esposito, Senior Vice President – Network Planning. “While we’re rebuilding our network at home and abroad, it’s even more critical that we provide the highest industry standard of safety, …read more […]

(Bloomberg) — Banks including Credit Suisse Group AG and Morgan Stanley face a $300 million shortfall on margin loans to the embattled founder of Luckin Coffee Inc., after they sold shares he had pledged as collateral for deeply depressed prices.The lenders, which also include Haitong International Securities Group and Goldman Sachs Group Inc., raised about $210 million from Luckin stock disposals over the past two months, people familiar with the matter said. Luckin Chairman Lu Zhengyao defaulted on $518 million of margin debt in early April, Goldman said in a statement at the time, after revelations of accounting fraud caused …read more […]

China’s electric-vehicle maker Nio Inc (NIO) has announced the completion of the offering of 72 million American depositary shares (ADS) at $5.95 per ADS, raising $428.4 million.The company has also granted the underwriters a 30-day option to purchase up to an additional 10.8 million ADSs.Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and China International Capital Corporation Hong Kong Securities Limited are acting as the joint book-running managers for the ADS offering.NIO plans to use the net proceeds mainly to fund its cash investments in NIO China, as well as other working capital needs.The company “expects NIO China …read more […]

(Bloomberg) — Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the energy minister of the United Arab Emirates.When markets were collapsing as the coronavirus pandemic crushed demand in March and early April, the idea that crude could rise again to $40 a barrel was “a dream,” the UAE’s Suhail Al Mazrouei said during a conference call on Monday. That was before the OPEC+ alliance agreed unprecedented cuts in output.Prices could return to “normal” within a year or two as curbs approaching 10 million barrels a day drain excess barrels …read more […]

(Bloomberg) — Gold pushed higher as investors counted down to testimony from Federal Reserve Chairman Jerome Powell on the central bank’s next steps to combat the hit from the coronavirus pandemic.Powell, who delivers his semi-annual policy report on Tuesday and Wednesday, is expected to echo the downbeat view he gave June 10 after policy makers signaled rates would probably stay near zero through 2022. Bullion also got a lift from concerns over new outbreaks in the U.S. and a weaker dollar.Bullion has rallied this year as the pandemic triggered an unprecedented wave of stimulus, bolstering the haven’s appeal. On Monday, …read more […]

The @FCC is launching an investigation. Neville Ray, president of technology at T-Mobile, said on Twitter Monday that engineers were working to resolve a voice and data issue that has affected customers around the country. …read more […]

Travis County Commissioners Court is scheduled to discuss terms of the deal on Tuesday, the paper reported, citing people with knowledge of the situation. The paper said it was unclear whether negotiations with Travis County show that Tesla has picked the Austin region as the site for the plant, which would build the company’s electric pickup truck and Model Y SUV and employ thousands of people, or if the company is also negotiating with officials in Tulsa, Oklahoma. The company’s chief executive, Elon Musk, has tweeted previously about the possibility of bringing a plant to Texas. …read more […]

Chesapeake Energy Corp is preparing to file for bankruptcy as soon as this week, said three people familiar with the matter, becoming the largest oil and gas producer to unravel after an energy market rout caused by the coronavirus outbreak. The Oklahoma City-based company, co-founded by the late wildcatter Aubrey McClendon, is in the final stages of negotiating a roughly $900 million debtor-in-possession loan to support its operations while under Chapter 11 bankruptcy-court protection, two of the sources said. The company is also in talks with creditors to “roll up” some of its existing debt and make it …read more […]

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. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of March 31st, 2020. […] …read more […]

The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn’t the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […] …read more […]

In this article you are going to find out whether hedge funds think Everi Holdings Inc (NYSE:EVRI) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks […] …read more […]

You know the old saying…
There are bulls – there are bears – and there are pigs.
One of the three gets slaughtered.
But lately, CNBC has introduced a new animal into the mix – and it perfectly describes the massive jumping around that the major markets have been doing lately…
A kangaroo…

In a “kangaroo” market, the extreme daily ups and downs are as logical as a rubber bouncy ball that you throw inside a racquetball court.
I’m sure you’ve seen this market action with your own eyes over the last week.
As it looks right now, the second pandemic wave that we’ve been warning …read more […]

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