Trading Ideas

Russia has no objection to the next meeting of OPEC and its allies, known as OPEC+, being brought forward to June 4 from the following week, three OPEC+ sources familiar with the meeting’s preparations told Reuters on Sunday. Algeria, which currently holds the presidency of the Organization of the Petroleum Exporting Countries (OPEC), has proposed the meeting planned for June 9-10 be brought forward to facilitate oil sales for countries such as Saudi Arabia, Iraq and Kuwait. The lack of Russian opposition to an earlier date could indicate that it is moving closer to an agreement with …read more […]

(Bloomberg Opinion) — The SpaceX Crew Dragon capsule that’s orbiting the Earth with two U.S. astronauts is the picture of New Space Age glamour. It’s a sleek, stylish commercially made capsule that’s destined to be featured beside Italian sports cars in future design textbooks. Just don’t tell that to Elon Musk, SpaceX’s chief executive and chief designer. “Is a Ferrari more reliable than a Toyota Corolla or a Honda Civic?” he once asked a space journalist. The answer, of course, is that the simpler sedans are far more reliable than the well-crafted sports car. So SpaceX, Musk made clear, was …read more […]

* This weekend’s Barron’s cover story offers some stocks poised to rebound as the economy reopens. * Other featured articles look at why now is a good time to buy insurance stocks, and who wins as Americans take to the roads again. * Also, the prospects for a senior-living stock, cruise and hotel stocks with a difference, and more.Cover story “7 Travel Stocks Set for Success as Lockdowns End” by Avi Salzman shows why, despite the recession, Americans are about to hit the road. Now is the time to find deals in the likes of Delta Air Lines, …read more […]

President Donald Trump’s increasingly heated feud with Twitter may be good for social media impressions, but may not be legally enforceable, according to experts. …read more […]

(Bloomberg) — Petroleum Development Oman, in which Royal Dutch Shell Plc and Total SA hold minority stakes, has begun receiving power from the Gulf Arab country’s largest photovoltaic solar plant.The 100-megawatt Amin facility, built partly by Marubeni Corp., will supply electricity for PDO’s operations, the state-run company said Sunday in a statement. PDO targets producing 30% of its electricity from renewable resources by 2025, Mohamed Al Busaidi, who heads its renewables business, said by phone.Oman, like neighboring Saudi Arabia and the United Arab Emirates, is expanding into solar energy to diversify its domestic sources of electricity. The nation is the …read more […]

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Beyond Meat (BYND) is partnering up with fast-food chains Kentucky Fried Chicken (KFC) and Pizza Hut to expand the reach of its famous plant-based beef in China.The news sent shares up 6.2% on Friday. According to social media site Weibo, the plant-based meat pioneer will be rolling out its products with KFC from June. The partnership with Pizza Hut is slated to start in the coming week. No further details were announced.“We’re proud to expand our partnership with KFC into China, one of their largest markets worldwide, as well as introduce a new partnership with Pizza Hut in China,” a …read more […]

(Bloomberg) — Amazon.com Inc. is scaling back deliveries and adjusting routes in a small number of cities including Chicago, Los Angeles and Portland after the death of George Floyd in Minneapolis sparked demonstrations around the country, prompting curfew orders.“We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the safety of our teams,” an Amazon spokeswoman told Bloomberg News.Amazon’s action shows how protests around the country are complicating operations for the e-commerce giant, which was still catching up from a surge in demand tied to the Covid-19 outbreak.In …read more […]

Watch trader reaction to $1744.10 to $1754.30 early next week. This should tell us if buyers have returned or if sellers are taking control. …read more […]

The direction of the next major move in crude oil will be determined by trader reaction to the retracement zone at $36.07 to $40.50. …read more […]

(Bloomberg) — Venezuela’s President Nicolas Maduro said fuel prices would increase starting in June, a historic policy shift after decades of subsidies that have allowed Venezuelans to essentially fill their tanks for free.Gasoline will be sold at 5,000 bolivars (2.5 U.S. cents) per liter at gas stations nationwide starting Monday, including 200 stations that will sell premium fuel at the equivalent of 50 U.S. cents a liter, Maduro said. Gasoline will be limited to 120 liters (30 gallons) per month for each vehicle.“This is a war, my dear fellow countrymen who listen to me, a brutal war,” Maduro said from …read more […]

(Bloomberg) — China’s factories are starting to hum again, but executives are now worried that the rebound could falter on weak demand at home and abroad.Justin Yu, a sales manager at Zhejiang-based Pinghu Mijia Child Product Co. that makes toy scooters sold for American retailers, is among those seeing their order book improve from the depths of the coronavirus lockdown, but remain well below normal.“We are seeing more orders coming in this month as we get closer to our normal peak season,” Yu said. “But our orders are still 40-50% lower than last year.” The factory’s production capacity is running …read more […]

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This week brought a mixed bag of news for the cannabis industry.Aphria Inc (NYSE: APHA) announced it will transfer its stock from the New York Stock Exchange to the Nasdaq exchange after the market close June 5, and a long list of earnings reports, some better than others.Cresco Labs Inc. (CSE: CL) (OTC: CRLBF) had a great week with numerous store-opening announcements. The company also reported first-quarter revenue of $66.4 million, up 60% from the previous quarter. “In Q1 we built, staffed, integrated, and refined our operations in the largest and most important cannabis markets in the U.S.,” said the …read more […]

24 Hour Fitness Worldwide is reportedly preparing to file for bankruptcy, as retailers and other companies navigate the coronavirus pandemic. …read more […]