Readers hoping to buy Philip Morris International Inc. (NYSE:PM) for its dividend will need to make their move… …read more […]
Chris Anzalone became the CEO of Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR) in 2007. This report will, first… …read more […]
Rounding out an exceptionally volatile week of trading, the market delivered another dramatic swing, this time finishing in the green. After March 12 saw both the S&P 500 and the Dow Jones indexes post their largest single-day percentage losses since the October 1987 crash, stocks rallied the next day, with the S&P 500 jumping over 9%. This gain, which represents its best session since 2008, came as a result of President Trump’s declaration that his administration will do whatever is necessary to mitigate the coronavirus’ impact on the economy. Against this backdrop, billionaire investor Carl Icahn offered up his …read more […]
(Bloomberg) — Saudi Aramco is slashing planned spending this year in the first sign that plunging demand and the oil-price war the kingdom unleashed are hitting home.Capital expenditure will be between $25 billion and $30 billion in 2020 and spending plans for next year and beyond are being reviewed, Aramco said. The oil giant is lowering that range from the planned $35 billion to $40 billion announced in its IPO prospectus, and compares with $32.8 billion in 2019.“That was the surprise,” Ahmed Hazem Maher, an analyst at EFG Hermes in Cairo, said of the spending cut. “They’re adding production in …read more […]
When many people think of the stock market, they envision the Hollywood version of Wall Street. Tickertape strewn across the floor. TVs with prices and symbols continuously rolling across them. People shouting to buy or sell. But that’s a pretty far cry from what it looks like today! So, what is the stock market, really?
Today the stock market is less a physical place and more a digital one. True, shares used to trade back and forth on the floor at the New York Stock Exchange (NYSE). But today the market exists online. You can still trade shares on the NYSE, …read more […]
(Bloomberg Opinion) — It’s just become a lot harder to make long-term investment decisions in the oil industry. And no, I’m not talking about the need to transition to a low-carbon economy, or the backlash from climate activists and investors. Any veneer of certainty about the future path of oil prices has evaporated.This is the second time in six years that Saudi Arabia has embarked on a pump-at-will oil production policy that has hammered prices. Whether it’s aimed at Russia or the U.S. shale sector, producers everywhere — from OPEC members such as Angola to corporate behemoths like Exxon Mobil …read more […]
Economic data will begin to influence, though news updates on the coronavirus, central bank and government actions will continue to be the key drivers …read more […]
Between March 16 and May 6, American will reduce its international capacity by 75% on a year-over-year basis, it said in a statement, adding the changes will result in the airline parking nearly its entire widebody fleet. The airline also anticipates its domestic capacity in April will be reduced by 20% on a year-over-year basis. …read more […]
(Bloomberg) — With the coronavirus outbreak rewriting the rules of the global economy, the Federal Reserve is under increasing pressure to keep the flow of support coming this week.The U.S. central bank is facing calls to slash borrowing costs to zero at or before Wednesday’s decision, adding to its attempt last week to buttress free-falling markets with extra bond purchases. The Bank of Japan is also expected to act, after a week that saw institutions around the world cut rates and unleash a raft of extraordinary targeted measure to keep economies afloat amid the spreading pandemic.What Bloomberg’s Economists Say…“Given the …read more […]
It’s a mixed start to the day for the majors. Failure to break back through early highs could well lead to another sell-off… …read more […]
Southwest Airlines , one of the few U.S. airlines still flying a full schedule even as the spreading coronavirus has sapped demand, said on Saturday it was “seriously considering” cutting flights in the short term. Southwest spokeswoman Michelle Agnew said the company would monitor demand for additional reductions after a first round of cuts, which one source familiar with the matter said could be announced by Wednesday. …read more […]
Overwhelmingly, caution remains the watchword for investors and analysts reeling from a week that saw all three U.S. exchanges confirm bear markets, oil prices plummet to multiyear lows and wild fluctuations in bond yields and currencies. Investors still have little clarity on the possible trajectory of the coronavirus outbreak in the United States, the effectiveness of the government response and the eventual damage the virus will cause to the nation’s economy and individual companies. The White House on Saturday said it would extend a travel ban to include the United Kingdom and Ireland, a move that could further …read more […]
(Bloomberg) — Airlines in the U.S. and Europe cut flights, idled planes and drafted plans to eliminate jobs, while seeking government support to weather the roughest downturn in the industry’s history, caused by the spread of the coronavirus.American Airlines Group Inc., Delta Air Lines Inc., United Airlines Holdings Inc. and Southwest Airlines Co. said they’re discussing potential aid from the government, without providing details.The governments of Germany and France are weighing financial aid to help get Deutsche Lufthansa AG and Air France-KLM through the crisis. The head of Norwegian Air Shuttle ASA acknowledged that the discount carrier is at the …read more […]
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