Wiren will replace Kristian Pullola from Sept 1, joining from Finnish engineering firm Wartsila where he is heading power plant technology unit after previously working as a CFO of several public companies, it said. Wiren will joing with Lundmark, who will take over as CEO also in September. …read more […]
(Bloomberg) — Oil declined in New York as an increase in American crude stockpiles to a record high raised fresh concerns about excess supply, while the Federal Reserve forecast a long road to recovery for the U.S. economy.Futures lost 3.2% to drop below $39 a barrel, erasing all of the gains from the previous session. U.S. crude inventories unexpectedly rose last week, even as oil production fell, while gasoline stockpiles also saw a surprise expansion. Fed Chairman Jerome Powell said the pandemic could inflict longer-lasting damage on the economy and the central bank signaled it would keep rates near zero …read more […]
Spot gold was down 0.2% to $1,732.39 per ounce by 0329 GMT, after hitting its highest level since June 2 at $1,739.68 earlier in the session. U.S. gold futures climbed 1.2% to $1,741.80. On Wednesday, spot gold prices rose 1.3%, their biggest daily percentage rise in more than a month, after the Fed said it would be a long road to recovery from the coronavirus-induced slump. …read more […]
(Bloomberg) — Global stocks retreated Thursday amid fears of a second wave of the coronavirus in the U.S. and overnight caution from the Federal Reserve.Japanese shares led Asian equities lower, while U.S. and European futures slid. Losses accelerated after data showed coronavirus cases surpassing 2 million in the U.S., with hospitalizations jumping in Texas. Treasuries consolidated gains made in the wake of the Fed decision, which featured fresh projections including an outlook for no interest-rate hikes through 2022. The dollar rebounded and the yen pushed higher.Fed Chair Jerome Powell said the central bank had a briefing on yield-curve control, amid …read more […]
(Bloomberg) — The Hong Kong arm of China’s biggest asset manager is amassing cash and building up short positions in a bet that the U.S.-China power games will escalate ahead of the American election later this year.The market hasn’t fully accounted for the “extreme steps” that President Donald Trump might take in an attempt to shore up flagging poll numbers, said Gan Tian, chief investment officer of China Asset Management (Hong Kong) Ltd., who oversees almost $400 million in hedge fund assets.“It could be to challenge China in South China Sea, it could be a military or diplomatic alliance with …read more […]
Zoom Video Communications temporarily shut the account belonging to a group of U.S.-based Chinese activists after they held an event to commemorate the 31st anniversary of China’s Tiananmen Square crackdown, the activists said on Thursday. Humanitarian China said the event they held on May 31 was hosted by a paid account and was joined by over 250 people worldwide via video-conferencing platform Zoom, while more than 4,000 streamed it on social media, many of whom were from China. Zoom confirmed the U.S.-based account had been suspended but had now been reactivated. …read more […]
(Bloomberg) — China’s No. 2 online retailer JD.com Inc. is poised to raise HK$30.1 billion ($3.9 billion) in its Hong Kong share sale, people familiar with the matter said, putting it on track to complete the world’s second-biggest listing this year.The company is telling prospective investors that it plans to price 133 million new shares at around HK$226 each, according to the people, asking not to be identified as the information isn’t public. The indicative price represents a 3.9% discount to the Nasdaq-listed JD’s closing price of $60.70 per share on Wednesday, JD trades in the U.S. via American depositary …read more […]
Electric car giant Tesla (TSLA) is at the top of its game, hitting another all-time high on Wednesday, and reaching the long-ballyhooed $1,000 mark. The latest surge ensued when a memo from CEO Elon Musk telling employees it was “time to go all out” on the production of the Tesla Semi, began making the rounds.But Tesla’s latest rally picked up steam earlier this week, when reports came out that demand for Model 3s in China has accelerated. News outlets focused on the 11,095 Model 3s that zoomed out of Tesla’s Shanghai Giga 3 factory last month and are now sitting …read more […]
Oil prices fell in early trade on Thursday on worries about slow demand growth with coronavirus cases rising, U.S. crude stockpiles hitting an all-time high and the U.S. Federal Reserve projecting recovery from the pandemic would take years. Brent crude futures fell 2.0%, or 85 cents, to $40.88 a barrel, also giving up gains from Wednesday. “The recent rally in crude oil prices stalled as rising inventories showed the path to a recovery will be a rocky one,” ANZ analysts said in a note. …read more […]
It’s not that common that I review a stock immediately after it has cut its dividend. But I’ve had a number of requests for this one, and it’s an interesting situation.
Preferred Apartment Communities (NYSE: APTS) owns 123 multifamily housing, student housing, office and retail spaces in 15 states.
Its properties include…
The Overlook at Crosstown Walk, a 180-apartment community in Tampa, Florida
Independence Square, a 140,000-square-foot retail plaza in Dallas, Texas
Stadium Village, a 792-bed student housing apartment building in Kennesaw, Georgia.
In its first quarter earnings announcement, Preferred Apartment Communities said it is reducing its quarterly dividend to $0.175 per share from $0.2625.
This is …read more […]
Last week on June 4 in Trade of the Day, I shared my thoughts on Party City (NYSE: PRTY) and how it was a great speculation at current levels (at the time) of around $1.40.
Here’s a refresher on what I wrote…
Party City shares currently trading around $1.40 is a speculation, pure and simple. It might be time to add some zing to your portfolio with a stock that can party like it’s 1999 again!
On Monday, June 8, the shares traded as high as $2.55. So no matter the price traders paid on June 5, they woke up Monday morning …read more […]
Prior to 2020, there was a strong global demand for liquefied natural gas (LNG).
2019 saw a 13% year-over-year increase in global LNG trade. Total sales hit 354.7 million metric tons.
It was the sixth year in a row of LNG growth. Last year alone, the U.S. increased production by 13.1 million tons.
But black swan events can happen at any time… and they sure are disruptive.
Here’s what’s been transpiring in the natural gas space since the COVID-19 pandemic came on the scene…
Massive Demand Disruption
This past winter was mild and kept what would normally have been strong seasonal demand in check. Then the …read more […]
(Bloomberg) — Texas on Wednesday reported 2,504 new coronavirus cases, the highest one-day total since the pandemic emerged.A month into its reopening, Florida this week reported 8,553 new cases — the most of any seven-day period.California’s hospitalizations are at their highest since May 13 and have risen in nine of the past 10 days.A fresh onslaught of the novel coronavirus is bringing challenges for residents and the economy in pockets across the U.S. The localized surges have raised alarms among experts even as they’re masked by the nation’s overall case count, which early this week rose just under 1%, the …read more […]
(Bloomberg) — Europe’s Just Eat Takeaway.com NV agreed to acquire U.S.-based Grubhub Inc. for $7.3 billion, in a deal that creates one of the world’s largest meal-delivery companies as the coronavirus pandemic drives a surge in orders.Amsterdam-based Just Eat Takeaway said it will pay $75.15 per share for Grubhub in an all-stock deal with an equity value of $7.3 billion. Grubhub’s stock price rose about 6% in extended trading to more than $62, while the European company fell about 13%.The deal sidelines Uber Technologies Inc., which had been in acquisition talks with Grubhub for at least a month. Political pressure …read more […]
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