Trading Ideas

China’s antitrust authority has announced a conditional approval for Nvidia’s (NVDA) highly anticipated $6.9B acquisition of Mellanox (MLNX). On the news Nvidia stock is currently up 4% in Thursday’s trading.Encouragingly the conditions only require the companies to not add bundles or other “unreasonable” requirements when selling devices in China.Following the reported approval, Bank of America analyst Vivek Arya reiterated his NVDA buy rating with a $340 price target (17% upside potential).“Our positive views on NVDA are based on its attractive organic prospects” he told investors.“However, we believe potentially adding highly complementary Mellanox high-performance computing/networking products could enhance NVDA’s critical data …read more […]

OPEC on Thursday again cut its forecast for 2020 global oil demand due to the “historic shock” delivered by the coronavirus outbreak, and said the reduction may not be the last. Last month, OPEC expected a small increase in demand of 60,000 bpd. “The oil market is currently undergoing historic shock that is abrupt, extreme and at global scale,” OPEC said in the report. …read more […]

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Google will allow business and education users on Gmail.com to directly take calls on its video conferencing tool Meet starting Thursday, a new feature being offered as the Alphabet Inc unit seeks to capitalize on security and other concerns with rival services. The integration of Meet with e-mail is the first of several features being launched ahead of schedule because of a surge in demand for video conferencing, Google vice president Javier Soltero told Reuters. Meet, which is available only to schools, businesses and governments and is distinct from the consumer-focused Hangouts tool, has added daily users …read more […]

Abbott has launched three coronavirus tests in the United States, including an on-site diagnostic kit that can deliver results within minutes and heralded as a game changer by President Donald Trump. Sales at the company’s nutrition products division rose 6.3% to $1.90 billion, benefiting from increased demand for children’s products in late March as U.S. states began to impose shelter-in-place restrictions to curb the spread of the virus. …read more […]

Once upon a time, Chesapeake Energy (CHK) was a rising star of the energy world, snapping up assets and blazing a trail towards a fracking future, in which it would supply oil markets around the world.Sea changes in the prices of oil and natural gas, however, combined with a too-aggressive acquisition spree and the debt loads that came with it have all but destroyed Chesapeake Energy’s equity value. Over the past five years, the stock has tumbled from a split-adjusted high of more than $3,300 a share, to just $16.38 per share as of Wednesday’s close — vaporizing 99.5% of …read more […]

The results capped first-quarter earnings from big U.S. banks, marked by significant declines in profit and billions in provisions to cover for a wave of expected loan defaults due to a global economic slowdown triggered by the pandemic. Morgan Stanley’s wealth management unit, which contributes roughly half of its total revenue, fell 8% to $4.04 billion, as it bore the brunt of the ongoing turmoil in financial markets. …read more […]

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Bank of America Corp. (BAC) saw its profit plunge 48% in the first three months of the year as the U.S. investment bank set aside a $3.6 billion provision for potential losses in anticipation of a deteriorating economic outlook.First-quarter pre-tax income fell to $4.5 billion, or 40 cents a share from the year-ago period. Credit loss provisions in the quarter increased to $4.8 billion from $1 billion a year ago, fueled by a $3.6 billion reserve buffer to cover for potential losses as a result of the economic impact induced by the coronavirus pandemic. Revenue slid to $22.8 million from …read more […]

(Bloomberg) — Barrick Gold Corp., the world’s second-largest producer of the metal, reported the lowest quarterly production since the third quarter of 2018 but still thinks it will make its annual guidance.“These results positioned Barrick well to achieve its guidance for the year despite the impact of the global Covid-19 pandemic and the resultant lockdowns,” Barrick Chief Executive Officer Mark Bristow said Thursday in a statement.Key InsightsIn February, Barrick forecast production this year will range from 4.8 million to 5.2 million ounces.Preliminary first-quarter gold production is 1.25 million ounces of gold, Barrick said. First-quarter all-in sustaining costs for gold are …read more […]

Dropbox, Inc.’s (NASDAQ:DBX): Dropbox, Inc. provides a collaboration platform worldwide. On 31 December 2019, the… …read more […]

As part of the urgent global race to tackle the coronavirus outbreak, Novavax (NVAX) is due to commence Phase 1 testing for its SARS-CoV-2 vaccine, NVX-CoV2373, within the coming weeks.According to the statement, this is the third confirmed global Covid-19 vaccine trial and the first in Australia.“The urgent global race to develop a vaccine against the COVID-19 pandemic drove our rapid identification and selection of an optimal, highly immunogenic vaccine candidate,” said Stanley C. Erck, President and CEO of Novavax.The Phase 1 in-human trial of NVX-CoV2373 is expected to begin in mid-May with preliminary immunogenicity and safety results in July, …read more […]

Citigroup Inc. (NYSE:C) saw a significant share price rise of over 20% in the past couple of months on the NYSE. With… …read more […]

Top news and what to watch in the markets on Thursday, April 16, 2020. …read more […]

Abbott Laboratories (ABT) said it is rolling out a laboratory-based blood test which can detect antibodies designed to identify whether someone has had the coronavirus strain Covid-19. The digital device maker is planning to ramp up manufacturing to produce 20 million tests by June.Shares of the healthcare company, which is scheduled to report first-quarter earnings on Thursday, rose 2% to $90.94 a share, while the NYSE Composite Index dropped 2.9%. Analysts expect Abbott to earn an average 58 cents per share in the quarter.The company announced that it expects to ship close to 1 million tests this week to hospitals …read more […]