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. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]
From Baltimore – Something momentous occurred in financial markets on May 7, and it may portend an important transition in the economy and financial markets.
Yet this event went largely unnoticed by investors and market analysts. You didn’t hear much about it in the media either (most of that group is determined to peddle only doom and gloom).
What happened? Well, the Nasdaq Composite Index went positive for the year.
And as of this writing, the Nasdaq – which tracks more than 2,500 stocks – is up more than 2% since January 1.
It’s not a lot, but it’s pretty impressive in a year …read more […]
When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in U.S. output. Now that crude has rallied on the back of those cuts from below $20 a barrel to $40 or more, the group known as OPEC+ faces a fresh challenge: stopping U.S. shale production delivering another surprise by recovering equally quickly. “The plan is to stick to prices of $40-$50 per barrel because as soon as they rise any further to say $70 per …read more […]
(Bloomberg) — Oil turned lower after U.S. government data showed fuel demand isn’t recovering as quickly as first believed.American gasoline supplies rose to the highest level in more than a month and distillate inventories jumped by the most since January 2019, according to the Energy Information Administation. Those increased offset a larger-than-expected decline in crude stockpiles, dragging West Texas Intermediate crude futures down by 1%.Production curbs by OPEC and its allies have helped the market move toward balance, after the massive demand destruction at the height of the virus pandemic in April. But the recovery remains tenuous, with U.S. producers …read more […]
While dismissing most claims, U.S. District Judge Yvonne Gonzalez Rogers ruled late Tuesday that shareholders can sue over Chief Executive Tim Cook’s comments touting strong iPhone demand on a Nov. 1, 2018 analyst call, only a few days before Apple told its largest manufacturers to curb production. “Absent some natural disaster or other intervening reason, it is simply implausible that Cook would not have known that iPhone demand in China was falling mere days before cutting production lines,” Rogers wrote. …read more […]
(Bloomberg) — A formerly cautious analyst at SVB Leerink has changed his tune on the potential sales of Gilead Sciences Inc.’s Covid-19 treatment, remdesivir.Even bullish Wall Street analysts have been critical of Gilead’s chances of making a profit from the treatment, which received an emergency use designation from U.S. regulators in May. Public advocates have argued against drug and vaccine makers making any profit from the global pandemic but SVB Leerink analyst Geoffrey Porges is now forecasting that sales of remdesivir may reach $7.7 billion in 2022.Less than two months ago, Porges had said investors were giving a “generous amount …read more […]
President Donald Trump’s administration plans to bar Chinese passenger carriers from flying to the United States starting in mid-June as it pressures Beijing to allow U.S. air carriers to resume flights, three U.S. and airline officials briefed on the matter told Reuters. The move, set to be announced on Wednesday, penalizes China after Beijing failed to comply with an existing agreement on flights between the world’s two largest economies. The restrictions are expected to take effect on June 16 but the date could be moved up by Trump, the people briefed on the matter said, speaking on condition …read more […]
The Canadian company, known for its pricey red parkas worn by everyone from Arctic scientists to Hollywood celebrities, suffered a big hit to sales as fashion capitals across Europe, Asia and North America effectively shut down through much of March and April to help curb the spread of the virus. Canada Goose also said shipments to department stores have been largely shutoff since March due to coronavirus-led restrictions. …read more […]
The Aerie brand recorded a revenue decline of 2%, compared with a 28% rise a year ago. Revenue at the American Eagle label fell 45% during the quarter. American Eagle also said its net loss stood at $257.2 million, or $1.54 per share, compared with a profit of $40.8 million, or 23 cents per share, a year earlier, mainly due to an impairment charge of about $156 million related to COVID-19-induced closures of 272 stores. …read more […]
(Bloomberg) — Coronavirus has exposed a lack of investment in the big batteries crucial to unlocking solar and wind power.A drop in energy demand caused by the pandemic has left European grids overloaded with green electricity, raising the threat of blackouts and underlining the need for energy storage in a low-carbon energy system.Europe is striving to rid its power grids of carbon emissions by the middle of the century. But what should be an incentive to increase the use of batteries isn’t happening nearly fast enough with installations dropping last year, according to BloombergNEF.“Batteries are extremely critical,” Fatih Birol, executive …read more […]
Stock futures extended gains Wednesday morning as investors set their sights on more major cities’ plans to reopen businesses in the near-term as the coronavirus pandemic eased. …read more […]
The coronavirus pandemic and accompanying financial crisis is putting particular pressure on the finances of student loan borrowers and on Congress to do something about a “broken” system. …read more […]
Bell Canada, part of BCE Corp, had relied on Huawei for deploying 4G infrastructure but went with Ericsson as Canada was deliberating whether to allow Huawei to sell 5G equipment in the country. The United States has raised security concerns about Huawei and has warned that allies that use its equipment in their networks risked being cut off from valuable intelligence sharing. …read more […]
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