Trading Ideas

The rapid spread of the novel coronavirus, which was first detected in the Chinese city of Wuhan last December, has claimed the lives of nearly 170,000 across the globe and has forced restaurants, grocers, sports arenas and entertainment venues to shut doors. The Atlanta-based beverage maker, which last month said it would not be able to reach this year’s financial goals, now expects current-quarter comparable revenue to include a 4% to 5% hit from a stronger dollar. Excluding one-time items, Coke earned 51 cents per share, beating market consensus estimate of 44 cents, according to IBES data from …read more […]

Top news and what to watch in the markets on Tuesday, April 21, 2020. …read more […]

IBM Corp reported a better-than-estimated profit in the first quarter driven by sales of its cloud computing business. However revenue came in slightly below forecast as the company withdrew its 2020 guidance.In the first three months of the year, net income declined to $1.18 billion, or $1.31 per share, from $1.59 billion, or $1.78 per share, in the year-ago period. Adjusted EPS amounted to $1.84 per share, above the $1.80 per share estimates. Total revenue declined 3.4% to $17.57 billion during the same period, coming slightly below analysts’ estimates of $17.62 billion.IBM said its key areas of investment will continue …read more […]

Coronavirus downturn has put major pressure on oil prices with demand slumping and storage running out. …read more […]

Beyond Meat (BYND) is teaming up with Starbucks (SBUX) to bring its famous plant-based beef to China for the first time. From Wednesday, Starbucks will offer a new menu to Chinese customers featuring BYND’s ‘beef’ in pastas and lasagna, as well as non-dairy milk and fake pork products.To help boost the appeal of alternative meat products in China, Beyond Meat will create a dedicated Chinese website, and ramp up its presence on social media sites Weibo and WeChat.On April 20, Yum China’s KFC also announced that it will begin its first Chinese trial of a plant-based version of its popular …read more […]

The proposal from the regulator “will require PG&E to modify its governance structure, submit to an enhanced oversight and enforcement process if it fails to improve safety, and create local operating regions”, the California Public Utilities Commission (CPUC) said late on Monday. Separately, CPUC Commissioner Clifford Rechtschaffen proposed imposing $1.94 billion in penalties on PG&E for the utility’s role in the 2017 and 2018 wildfires. …read more […]

(Bloomberg) — Sasol Ltd.’s shares, down more than 80% in 2020, are trading as if the market expects years of bad news around oil and that the South African fuel and chemicals giant will struggle to escape its balance sheet constraints.Old Mutual Investment Group doesn’t share that pessimism, said Meryl Pick, a money manager who helps oversee the firm’s 10 billion rand ($533 million) Investors Fund.“Our view is that the market is pricing Sasol as if the prevailing oil prices are going to continue for the next three to five years, and are pricing in that the balance sheet constraints …read more […]

General Electric (GE) has entered into a $15 billion senior unsecured credit facility with 32 banks.This senior unsecured credit facility refinances and terminates GE’s prior $20 billion back-up revolving syndicated credit facility that was scheduled to mature in May 2021.The credit facility matures on April 17, 2023, although GE can pay any amounts of the facility back before this date without premium or penalty.According to the filing, extensions of credit under the credit facility can be used by GE for general corporate purposes.The closing of this new facility also terminated GE’s $4 billion revolving syndicated credit facility that was scheduled …read more […]

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The stimulus payout timeline has some seniors and others getting money the week of April 20 and later. Many who didn’t get cash yet continue to worry. …read more […]

(Bloomberg) — Virgin Australia Holdings Ltd. became Asia’s first airline to fall to the coronavirus after the outbreak deprived the debt-burdened company of almost all income.Administrators at Deloitte, who have taken control of the Brisbane-based carrier, aim to restructure the business and find new owners within months. More than 10 parties have expressed an interest, Deloitte said Tuesday.Virgin Australia joins FlyBe — the U.K.’s biggest domestic airline before it collapsed last month — among the industry’s corporate casualties of the virus. Airlines have been pummeled by domestic and international travel bans that forced them to seek government aid.Alaska’s Biggest Regional …read more […]

(Bloomberg) — U.S. stock index futures dropped after reports that North Korea’s Kim Jong Un underwent a medical procedure.Contracts on the S&P 500 slid as much as 1.2%, before paring their loss to 0.6% as of 12:22 p.m. in Tokyo. Futures dropped 0.5% on the Nasdaq 100 Index and 0.7% on the Dow Jones Industrial Average.The U.S. has information that Kim was in a critical situation after cardiovascular surgery last week, an official said. South Korean media reports suggested that Kim was recovering.North Korean “succession risk is causing global equity markets to buckle,” Stephen Innes, chief global market strategist at …read more […]

(Bloomberg) — Asian stocks retreated, with South Korean shares underperforming, and the dollar climbed after news that the U.S. is monitoring information surrounding the health of North Korea’s dictator.Equities declined across Asia-Pacific markets, with 2% or more losses in South Korea and Hong Kong. Shanghai and Tokyo benchmarks were down about 1%. U.S. futures surrendered gains and were down more than 1% at one point. While the yen traded flat, the dollar climbed against most major currencies. Treasuries were little changed.The U.S. has information that North Korea’s Kim Jong Un is in critical condition, Bloomberg reported, while CNN said America …read more […]

The contract for West Texas intermediate crude, or WTI, is the benchmark for U.S. crude oil prices. WHAT DOES A NEGATIVE FUTURES PRICE MEAN? Because of oversupply, storage tanks for WTI are becoming so full it is difficult to find space. …read more […]