Trading Ideas

(Bloomberg) — Apple slumped along with European stocks and U.S. futures after the company said the virus would hurt results. Japan said it expects to remove all passengers from the quarantined cruise ship by Friday and Singapore set aside millions to counter the outbreak.China reported the lowest number of new cases since announcing a change in its method of detection last week. A top expert in China said the outbreak could peak in parts of the country this month, but the World Health Organization has said it’s too early to say if infections are truly declining.So far, 73,332 people have …read more […]

(Bloomberg) — Tech stock futures fell as traders worked to price in the impact of a revenue shortfall at a company responsible for more than a tenth of the S&P 500’s gain over the last year.While Apple Inc. described the impact of the coronavirus on its sales as “temporary,” slips among big tech companies sit uneasily with investors who have watched many stocks soar 50% or more over the past 12 months. The iPhone maker has a 12% weighting in the Nasdaq 100 Index, which closed last week at 29.4 times annual earnings, the highest in a decade.“This will be …read more […]

(Bloomberg) — Tech stock futures fell as traders worked to price in the impact of a revenue shortfall at a company responsible for more than a tenth of the S&P 500’s gain over the last year.While Apple Inc. described the impact of the coronavirus on its sales as “temporary,” slips among big tech companies sit uneasily with investors who have watched many stocks soar 50% or more over the past 12 months. The iPhone maker has a 12% weighting in the Nasdaq 100 Index, which closed last week at 29.4 times annual earnings, the highest in a decade.“This will be …read more […]

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(Bloomberg) — Concern is mounting over the speed of a nearly $900 billion rebound in Chinese equities that’s been driven by bets of sustained government support.The CSI 300 index of stocks in Shanghai and Shenzhen has climbed 10% since a record sell-off earlier this month, wiping out the slide following the end of the extended Lunar New Year break due to the coronavirus outbreak. The ChiNext gauge of smaller companies, typically the most speculative part of the market, has popped 21% from its bottom to be the best performer in Asia Pacific this year.But the central bank’s move to withdraw …read more […]

(Bloomberg) — HSBC Holdings Plc is set to slash about 15% of its workforce, and is taking $7.3 billion of charges in its latest attempt to revive its fortunes since the global financial crisis.The London-based lender is also targeting cost cuts by $4.5 billion as it faces challenges including Hong Kong protests and the coronavirus. HSBC, which earns the bulk of its profits in Asia, is still hunting for a permanent chief executive officer while interim boss Noel Quinn runs the lender and seeks to convince the undecided board he’s the right person at the top.“Parts of our business are …read more […]

(Bloomberg) — For the second time in as many years, Apple Inc. has had to temper its sales outlook because of unexpected shifts in China, the country that’s served as the engine of its growth and success. First a trade war with the U.S. and now the outbreak of a novel coronavirus have called into question China’s role as a reliable market and supply chain partner for the world’s most valuable maker of consumer electronics.The coronavirus that’s stifled China’s meticulously orchestrated production and logistics has hit both Apple’s supply and demand — factories are resuming work slower than expected, the …read more […]

HONG KONG/LONDON (Reuters) – HSBC Holdings PLC on Tuesday unveiled plans to cut costs and simplify its structure to boost earnings, after its 2019 profit dropped 33% hit by one-time write-offs linked to its investment banking and commercial banking businesses in Europe. The wider strategy overhaul comes amid slowing economic growth in HSBC’s major markets, an outbreak of a fast-spreading coronavirus, Britain’s protracted withdrawal from the European Union, and lower central bank interest rates. While the London-headquartered bank has benefited from billions of dollars of investment in Asia over the last few years – mainly in China – …read more […]

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U.S. stock futures slipped from record levels on Tuesday after Apple Inc , the most valuable company in the United States, said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. The number of new coronavirus infections in mainland China fell below 2,000 on Tuesday for the first time since January, Chinese health officials said, although global experts warn it is too early to say the outbreak is being contained. The International Energy Agency (IEA) said last week the virus was set to cause oil …read more […]

Former US vice president’s firm releases portfolio Continue reading… …read more […]

Is your Pier 1 Imports store closing? Here is the list of the U.S. locations slated to close, which includes 331 stores. …read more […]