Trading Ideas

Boeing Co heads to court on Wednesday to dispute a request from lawyers representing victims of a 737 MAX crash for documents related to the aircraft’s design, development and two fatal disasters. Chicago-based Boeing is facing around 100 lawsuits by families of 157 victims of a Ethiopian Airlines 737 MAX crash on March 10, five months after a similar accident on a Lion Air flight that killed 189 people. Lawyers for the victims’ families are asking why Boeing and U.S. regulators allowed the MAX to continue flying after the Lion Air disaster and whether the planemaker hid …read more […]

(Bloomberg) — A number of stocks that have captured investor attention are continuing their gains as the options market more and more resembles a roulette wheel.Richard Branson’s space-tourism company Virgin Galactic Holdings Inc. jumped more than 10% in trading before the U.S. market open on Wednesday, on track for another day of double-digit gains. Meanwhile, Plug Power Inc. rose more than 9% as retail investors talked up their positions on message boards like r/wallstreetbets on Reddit. Fellow renewable energy equipment-maker FuelCell Energy Inc. rose 6.5%.Tesla Inc., a favorite among retail investors, jumped more than 6% in part after analysts at …read more […]

The 2014-founded Elenion develops silicon photonics technologies for short-reach and high-performance optical interfaces. “Ownership of these key assets brings time-to-market and cost advantages to Nokia’s broad portfolio of networking solutions by applying the massive scale and economies of silicon design and manufacturing to the optical supply chain,” Nokia said in a statement. …read more […]

(Bloomberg) — China is considering further measures to shield its economy from the coronavirus outbreak that has now killed 2,010 and infected 75,286 people around the world.Beijing is weighing steps including cash infusions and bailouts for the struggling airline industry. As more people are encouraged to stay at home, a growing number of Chinese private companies have stopped paying staff completely.The strict quarantine likely bought the rest of the world several weeks to prepare, the World Health Organization said.Key DevelopmentsChina death toll hits 2,004; 74,185 confirmed casesHong Kong has second fatality after 70-year-old diesAdidas, Puma say business in China being …read more […]

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Top news and what to watch in the markets on Wednesday, February 19, 2020. …read more […]

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Renault’s shares fell on Wednesday after Moody’s cut its rating on the French carmaker’s debt to “junk” status, citing weaker profitability as the company restructures and grapples with falling demand. Like some rivals, and its Japanese alliance partner Nissan , Renault is under pressure as demand dwindles in markets like China. It is also bedding down a new management team after a scandal surrounding former boss Carlos Ghosn. …read more […]

(Bloomberg) — Tesla Inc.’s potential success in energy generation and storage will be the next big thing to fuel the rally that’s already pushed the stock to more than $858, analysts at Piper Sandler Cos. said as they increased their price target by more than 27%.Piper raised its target to $928 from $729, making it the most bullish among forecasters tracked by Bloomberg. The stock has more than doubled in the past four months and closed at $858.40 on Tuesday, near the record $887.06 reached earlier this month.“It’s easy to forget that TSLA sells batteries and solar power products; after …read more […]

(Bloomberg) — Outside the German town of Arnstadt, workers for China’s Contemporary Amperex Technology Co. Ltd. (CATL) are hustling to build Europe’s biggest electric-car battery plant.The site, which covers an area equivalent to about 100 football fields, previously housed one of the continent’s largest solar-panel factories. During a visit in October, wooden crates filled with surplus equipment were stacked up outside the metal-clad structure to make way for car-battery-making equipment. Roaring bulldozers swarmed a nearby lot to prep for construction of a new building.The $2 billion project—one of about a half dozen battery factories under construction in Germany alone—worries …read more […]

The jobs from the office being closed will be shifted to a customer support office of Uber in Manila, the LA Times reported, citing sources and a recording of comments from an Uber manager. Earlier this month, Uber, which is backed by Japanese technology investment giant SoftBank Group Corp , moved forward by a year its target to achieve a measure of profitability to the fourth quarter of 2020, but added it still expects to lose a total of more than $1 billion this year. …read more […]

(Bloomberg) — A growing number of China’s private companies have cut wages, delayed paychecks or stopped paying staff completely, saying that the economic toll of the coronavirus has left them unable to cover their labor costs.To slow the spread of the virus that’s claimed more than 2,000 lives, Chinese authorities and big employers have encouraged people to stay home. Shopping malls and restaurants are empty; amusement parks and theaters are closed; non-essential travel is all but forbidden.What’s good for containment has been lousy for business. With classes canceled at a coding-and-robotics school in Hangzhou, employees will lose 30% to 50% …read more […]

Oil prices gained 1% on Wednesday, with Brent rising a seventh straight day, amid broad optimism as new coronavirus cases fell for a second day in China and concerns rose over supply after a U.S. move to cut more Venezuelan crude from the market. Brent crude was up by 59 cents, or 1%, at $58.34 a barrel by 0439 GMT, while U.S. oil was up 55 cents, or 1.1%, at $52.60 a barrel. China is still struggling to get manufacturing going again in the world’s second-largest economy, after imposing stringent city lockdowns and travel restrictions to …read more […]

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(Bloomberg) — Michael Milken’s pardon by President Donald Trump on Tuesday was accompanied by a statement praising his “innovative work” in high-yield debt as well as a long list of people the White House said had provided “longstanding support” for the pardon. It proved a veritable Who’s Who of private equity, hedge fund, real estate and media titans. Here are the biggest names:Sheldon Adelson: a major Republican donor and Trump supporter, Adelson is the chief executive officer of casino operator Las Vegas Sands Corp. His wife Miriam also backed the pardon.David Bahnsen: a former Morgan Stanley managing director and wealth …read more […]