Trading Ideas

Top news and what to watch in the markets on Wednesday, February 26, 2020. …read more […]

A former Microsoft engineer has been declared guilty for stealing more than $10 million in digital currency and using a bitcoin mixing service. The post Former Microsoft engineer convicted for stealing over $10M in digital currency, using bitcoin mixing service appeared first on The Block. …read more […]

It’s only natural that many investors, especially those who are new to the game, prefer to buy shares in ‘sexy’ stocks… …read more […]

(Bloomberg Opinion) — The stock market with the most to lose from a wider coronavirus outbreak is the one in the U.S.Global markets sold off on Monday and Tuesday on reports that authorities are struggling to contain the virus, which has now spread to more than 30 countries and increasingly threatens the global economy. Until this week, the declines in global stocks seemed to be driven by proximity to the virus’s epicenter in China, but it’s becoming increasingly clear that few markets will escape harm if the virus isn’t contained.What’s not clear is which stock markets would suffer the sharpest …read more […]

(Bloomberg) — Rio Tinto Group’s chief executive officer said the world must be prepared to sacrifice growth to achieve climate goals as the natural resources industry comes under increasing pressure to curb emissions.“The challenge for the world, and for the resources industry, is to continue the focus on poverty reduction and wealth creation, while delivering climate action,” Jean-Sebastien Jacques told investors on Wednesday. “This will require complex trade-offs.”Jacques said consumers, governments and shareholders must all be willing to make sacrifices — in the form of lower consumption, growth and returns — if climate targets are to be met. The mining …read more […]

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(Bloomberg) — Tesla Inc. and Panasonic Corp. plan to end their partnership in producing solar cells for rooftops at a facility in Buffalo, New York, according to people familiar with the matter.Panasonic is withdrawing from the venture as part of the company’s broader recent move to curtail money-losing businesses, one of the people said, asking not to be named because the decision isn’t public. The move comes after the two companies have struggled to ramp up production at the facility, known as Gigafactory New York, said the people. They will continue to produce car batteries together at the original Gigafactory …read more […]

(Bloomberg) — Naixue’s Tea, one of the biggest bubble tea chains in China, has filed confidentially for a U.S. initial public offering that could raise as much as $400 million, according to people familiar with the matter.Bloomberg News reported on Tuesday that the company, also known as Nayuki, has been working with advisers on the share sale that could take place as soon as this year. The firm is also looking to raise about $50 million to $100 million in a pre-IPO funding round, the people have said, who asked not to be identified as the discussions are private.Naixue, started …read more […]

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Crude prices edged up on Wednesday as investors covered short positions after three sessions of losses, even as fears deepened that the rapid spread of the coronavirus will lead to a global pandemic. Government data due at 10:30 a.m. EST (1530 GMT) on Wednesday was expected to show a 2 million-barrel rise, according to a Reuters poll. …read more […]

(Bloomberg) — U.S. equity futures rose and Treasuries steadied after a surge that took yields to record lows, while Asian shares opened lower after another rout on Wall Street. Futures on the S&P 500 Index edged up after a 3% slump in the gauge of U.S. shares brought its losses to 7.6% over the past four days. The 10-year U.S. Treasury yield remained below 1.40%. Fears of the coronavirus spreading through the world’s biggest economy spooked traders Tuesday, with the Centers for Disease Control and Prevention warning Americans to prepare for an outbreak. In Asia, the origin for the disease, …read more […]

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(Bloomberg Opinion) — What a day for the Walt Disney Co. to let out its biggest secret.Just as investors were engrossed by news updates on the worsening coronavirus and its convulsive effect on global financial markets, Disney delivered another jolt by announcing longtime CEO Bob Iger was stepping down. Huh? It was the last thing shareholders saw coming. The company’s choice wasn’t even who most people expected. Bob Chapek, the head of Disney’s theme parks business, is taking over, effective immediately. Iger will remain chairman through to the end of 2021.It’s the most significant change to happen to the entertainment …read more […]

Revolve Group Inc. is finding Wall Street can be a tough crowd to satisfy. The Los Angeles-based e-commerce site reported its fourth-quarter earnings aftermarket Tuesday, highlighting nearly $601 million in sales for 2019, a 21 percent increase from its nearly $499 million haul the previous year. Its net income also rose 16 percent to roughly $36 million for the year. The numbers were buoyed by its strong showing in the fourth quarter, when the company drew in more active customers, and who also spent a little more. The company reeled in some 1.5 million active customers in the quarter, a …read more […]