Trading Ideas

Oil companies may be facing uncertainty as the coronavirus pandemic triggers a collapse in demand for their products, but auto makers are betting the crisis will help accelerate an electric future. With economies reeling from lockdowns to curb the virus, the sharpest plunge in oil prices in two decades has slashed the cost of filling up a tank of gas, eroding some of the incentive to make the switch to cleaner fuels. Looking ahead, cuts in capital spending forced upon energy companies as their revenues crumble could tighten supply enough to cause a spike in oil prices, making …read more […]

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I remember like yesterday the conversations and conundrums surrounding Y2K. Pundits were all over the map, from “Nothing will happen” to “We’re going to be living in caves and whittling cooking utensils with pocketknives.”
Sorting out the …read more […]

Shares of Home Depot, which have gained 12.4% this year, dropped nearly 3% to $238.50 in premarket trading, as the company also scrapped its full-year outlook, citing uncertainties stemming from the pandemic. Home Depot said it incurred about $850 million of pre-tax expenses in the first quarter, as it provided additional bonuses, doubled pay for overtime and added more hours of paid time-off for employees working during a surge of panic buying of cleaning supplies and masks. The company’s net earnings fell to $2.25 billion, or $2.08 per share, in the first quarter ended May 3, from $2.51 …read more […]

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Free users in mainland China can continue to join meetings hosted by registered customers, whereas new user registrations are available only for enterprise customers who sign up through authorized sales representatives, according to a statement from the company. Nikkei first reported of the development saying the restriction on Chinese individual accounts on the Zoom app was due to “regulatory requirements” in the country, and the company has come under scrutiny from both the U.S. and China as trade tensions intensified. …read more […]

Top news and what to watch in the markets on Tuesday, May 19, 2020. …read more […]

Tesla’s (TSLA) car registrations in China plummeted 64% in April, compared to March, according to consultancy firm LMC Automotive’s data.Specifically, the electric-vehicle maker’s China registrations dropped to 4,633 units from 12,709 units the previous month. This includes imported cars. “Tesla’s sales in the first month of each quarter are usually lower than the remaining two months” points out Reuters.Meanwhile sales of Tesla’s Model 3 sedan in China plunged 64% in April vs March, according to the China Passenger Car Association (CPCA). Tesla sold 3,635 Model 3 cars in April, a significant decrease from the 10,160 vehicles sold in March.Commenting on …read more […]

(Bloomberg) — European stocks turned lower alongside U.S. equity futures on Tuesday as the risk-on mood that kicked-off the week faded. Oil prices rose for a fourth straight session.The Stoxx Europe 600 Index had opened in the green following news that Germany and France have backed a $546 billion, European Union-wide economic recovery fund. But after strong gains on Monday, the gauge couldn’t hold the move and reversed to trade lower. Contracts for the S&P 500 also pointed to a soft open having been up earlier. Asian equities rallied, tracking the big gains on Wall Street yesterday.Treasuries and European government …read more […]

The move comes as tensions rise between there US and China and the Luckin Coffee scandal. …read more […]

Amazon.Com Inc. (AMZN) is said to be interested in snapping up debt-strapped J.C. Penney Co. Inc., (JCP) in a deal that would bolster the online retailer’s apparel business, Women’s Wear Daily reported.Shares in J.C. Penney plunged another 23% to $0.18 before being halted on Monday. The report comes after the U.S. apparel and home retailer on Friday filed for bankruptcy protection proceedings.As part of its “renewal” plan, the Plano-based company said it will to cut its debt, streamline operations, close stores and spin off a real estate division in a move to come back in a stronger position. It has …read more […]

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U.S. gold futures gained 0.3% to $1,739.80. Despite the news on a potential coronavirus vaccine lighting a fire under the equity markets, gold will remain very well bid due to the “ridiculously huge” Federal Reserve balance sheet, said Stephen Innes, chief market strategist at financial services firm AxiCorp. On Monday, the metal hit its highest since October 2012 before retreating to close lower, as stocks and oil surged after drugmaker Moderna said its COVID-19 experimental vaccine showed promising results in an early-stage trial. …read more […]

Moderna (MRNA) has now priced an underwritten public offering of 17,600,000 shares at a public offering price of $76 per share, before underwriting discounts and commissions.In addition, MRNA has granted the underwriters a 30-day option to purchase up to an additional 2,640,000 shares of common stock at the public offering price.Gross proceeds from the offering will be approximately $1.34 billion, says Moderna.The offering is expected to close on or about May 21, 2020, subject to customary closing conditions.Shares in Moderna pulled back 3% in Monday’s after-hours trading, following a 20% rally during the day after the biotech reported “positive” interim …read more […]

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(Bloomberg) — Moderna Inc. plans to raise as much as $1.3 billion through a sale of shares to fund manufacturing of a coronavirus vaccine seen as one of the frontrunners in the race for immunization against the widening pandemic. The U.S. biotechnology firm will sell 17.6 million shares priced at $76 a piece, according to a statement Tuesday. The price represents a 5% discount to Monday’s closing price.Morgan Stanley is the sole book-running manager for the offering that allows underwriters to buy an additional 2.64 million shares, the statement said. Bloomberg reported the share sale plan earlier.Shares jumped 20% on …read more […]