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Oil prices recover ground after market turmoil fuels price plunge

Oil prices found some respite on Wednesday as U.S. oil futures rose more than 20% and Brent prices steadied after a two-day price plunge, as markets struggle with a massive crude glut amid the coronavirus outbreak. West Texas Intermediate was up $2.05, or 18%, at $13.62 a barrel by 0034 GMT. Brent crude , which settled down 24% in the previous session, was up 4 cents at $19.37 a barrel after rising more than $1 earlier. …read more […]

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5-Star Analyst Pounds the Table on Microsoft (MSFT) Stock

Microsoft (MSFT) recently knocked Apple off the top spot for the coveted title of the world’s largest company by market cap. While Apple has felt COVID-19’s sharp impact significantly disrupt proceedings, Microsoft’s main growth driver has kept it charging ahead.What is this main growth driver? Wedbush analyst Daniel Ives believes the answer is clear. The Redmond giant’s core strength lies in its cloud offerings. The 5-star analyst implores investors to “own MSFT for the other side of this dark valley.”The dark valley for Microsoft concerns its exposure to PCs and supply chain, where roughly a third of Microsoft’s revenue lies. …read more […]

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United Plans $1 Billion Share Sale in First Airline-Equity Raise

(Bloomberg) — United Airlines Holdings Inc. is seeking to raise more than $1 billion by selling shares, stepping up efforts to increase capital to survive a collapse in travel demand.The offering consists of 39.25 million shares an option for the underwriters to buy an additional 3.93 million shares, United said in a statement Tuesday. The deal is expected to price before the market opens Wednesday between $25.95 and $26.50 a share, said a person familiar with the matter. That would be a discount of as much as 6.9% to the last closing price.The share sale, the first by a major …read more […]

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I Picked Clorox Using This Trick… Now Here’s My Newest Play

As I’m sure you know, I was one of the first analysts to say, “buy Clorox!” This was at the very beginning stages of the coronavirus pandemic back in February.
That singular piece of advice allowed War Room members (including you) to not only survive the corona crash but also thrive – all while other investors are losing.
Now I’m using the same selection methodology to make today’s newest pick.
Check out what I have to say in this week’s Trade Talk Tuesdays.
You don’t want to miss it!
Click the play button below to learn more…

For full instructions on how to play picks like …read more […]

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Is U.S. Crude Done For?

We are about to see a mass extinction event.
One on a scale we have never seen before.
On Monday, the price of U.S. crude oil plummeted not just below $1 but into negative territory for the first time ever.
Black gold was shredded for a one-day drop of more than 300%!
To say it was the most catastrophic day in crude’s history feels like an understatement.
There’s no day that comes anywhere close.
But this is the exact situation we’ve been fearing.
This is the setup I’ve been trying to warn investors about not just for weeks… but for years.
I’ve preached that not only is “peak …read more […]

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Kicking Off Earnings Season – Not With a Bang, but With a Whimper

First quarter earnings season officially kicked off on April 14. What are the numbers telling us so far?
The economy is bad. Really, really bad.
The big banks kicked things off and made it very clear that the world has changed. These companies reported huge hits to earnings as a result of taking billions of dollars of loss provisions to prepare for loans turning bad.

The banks are a bellwether of the economy. Their loss provisions are based on what they are seeing on the front lines from their customers.
It’s no shock that what the banks are seeing is bad. The economic …read more […]

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Texas Instruments Quarterly Sales Top Analysts’ Estimates

(Bloomberg) — Texas Instruments Inc. reported first-quarter revenue that beat analysts’ estimates, helped by customers stocking up on components to avoid potential supply disruptions caused by the Covid-19 pandemic. It also forecast sales that exceeded some Wall Street expectations.Chief Executive Officer Rich Templeton made a rare appearance on an earnings conference call to emphasize that the company will keep plants running and maintain spending on research and new production. The chipmaker also stuck to its pledge to return free cash flow to investors though share buybacks and dividends. The stock rose in extended trading.First-quarter net income fell to $1.17 billion, …read more […]

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Boeing names CFO to manage new group overseeing key operations

Boeing said on Tuesday it was naming chief financial officer Greg Smith to oversee a newly formed group that will consolidate several key operational areas. Smith will oversee enterprise operations, finance and strategy and will oversee manufacturing, supply chain and operations, finance, enterprise performance, strategy, enterprise services and administration effective May 1. Boeing said Smith is tasked with restoring “production and supply chain health as Boeing and the broader aerospace industry recover from the COVID-19 pandemic.” …read more […]

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Goldman Sachs Sees Doom and Gloom in These 3 Tech Stock Giants

Wall Street observers hoped last week’s gains signaled the arrival of blue skies, but the COVID-19 storm is thundering on. Stocks started the week on the back foot as U.S. crude futures landed in the red for the first time in history. The lockdowns across the world have done away with the demand for crude, causing oil supply to surge.Against this backdrop, investment firm Goldman Sachs is taking stock of the names in its coverage universe, noting that COVID-19-induced social distancing measures have taken a “severe” toll on some of its companies’ end markets. Additionally, the firm argues that the …read more […]