Trading Ideas

At least half a dozen Venezuelan banks have begun storing in vaults millions of dollars and euros accumulated in cash by businesses during an unexpected economic liberalization by President Nicolas Maduro, according to sources. Some $1.8 billion worth has entered Venezuela in the last year, according to three senior banking sources, as Maduro quietly dismantles 16 years of socialist regulations to salve the economy in the face of U.S. sanctions and hyperinflation. The cash comes mainly from remittances – often on trucks – by the millions of Venezuelans who have left in recent years, and from the OPEC …read more […]

Delta Air Lines, Inc. (NYSE:DAL) saw significant share price movement during recent months on the NYSE, rising to… …read more […]

Last week, you might have seen that Chevron Corporation (NYSE:CVX) released its annual result to the market. The early… …read more […]

The outbreak of the coronavirus in China has got a grip on the market, too. This is only to be expected; with almost $60 million people under lockdown as well as an international effort in place to develop a vaccine and arrest the virus’ spread, the effect was going to be felt by several sectors.Travel companies, aviation and retailers are among the industries heavily affected, so far. Feeling the force of the outbreak most pertinently, though, is the energy sector. Since the outbreak was announced on January 17, crude oil prices have dropped by 14%, while the SPDR S&P Oil …read more […]

BP raised its dividend and said it had completed a $1.5 billion share buyback programme in a sign of confidence in its growing oil and gas business on the last day in office for Chief Executive Bob Dudley. BP shares jumped 3.5% in early Tuesday trading. As Bernard Looney prepares to take the helm, BP struck a positive tone even as oil prices slumped to a near year-low on concerns over China’s coronovirus, bucking a trend among peers that reported a sharp slowdown in revenues last week. …read more […]

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.BP Plc’s fourth-quarter profit beat analyst estimates and the company increased its dividend slightly, bucking the trend in what has otherwise been a bleak quarter for Big Oil.In the final set of results for retiring Chief Executive Officer Bob Dudley, the London-based company offered some respite for investors who received nothing but bad news from BP’s peers. Last week Royal Dutch Shell Plc slowed the pace of its share buybacks due to weak macroeconomic conditions, while Exxon Mobil Corp. and Chevron Corp. …read more […]

(Bloomberg) — Apple Inc.’s major suppliers in China, including iPhone-maker Hon Hai Precision Industry Co., plan to resume full-scale production in the country Feb. 10, despite the coronavirus that has infected thousands and limited travel.Foxconn’s Hon Hai, the most important manufacturer for the U.S. company, said Tuesday it still expects to be able to restart facilities throughout China on schedule, according to a text message sent to Bloomberg News. Suppliers such as Quanta Computer Inc., Inventec Corp. and LG Display Co. also said they would go back to work next week in China.While Chinese officials and companies have targeted Feb. …read more […]

TOKYO/SEOUL (Reuters) – Shares of Asian companies in Tesla Inc’s battery supply chain surged on Tuesday after Panasonic Corp’s report on the first profit at its battery venture with Tesla boosted investor confidence in the U.S. electric vehicle (EV) maker. Panasonic’s first quarterly profit from its $1.6 billion investment in Tesla’s so-called Gigafactory in Nevada gives another vindication for Tesla founder Elon Musk’s bet on EVs against established automaking heavyweights including General Motors Co. “But now there is more viability about the sector thanks to Tesla’s strong sales and Europe’s tougher emissions regulations,” he said. …read more […]

(Bloomberg) — For a few tumultuous years, Tesla Inc. gave the bulls reason to believe and bears reason to doubt. Sure, Elon Musk was pulling off what legacy automakers tried and failed to do — make electric cars cool — but he was presiding over an inexperienced enterprise, and the old guard would catch up.As Tesla observers try to understand how and why the stock has tripled in a little more than three months, analysts and Musk’s own rivals are second-guessing the notion that the Model 3 maker will be caught anytime soon.“There’s a recognition that Tesla is in a …read more […]

Alphabet Inc’s new Chief Executive Sundar Pichai unveiled sales figures that investors have long demanded, but shares fell 5% as Google’s advertising business and the new data about YouTube and Google Cloud broadly disappointed. Pichai had sought to counter slowing revenue growth in the company’s main advertising business by pointing to the Silicon Valley firm’s younger units. …read more […]

(Bloomberg) — China’s stocks fluctuated after plunging on Monday, while most Asian equities rose with U.S. futures as investors gauged efforts to contain the coronavirus and awaited potential responses from policy makers.In a wild start to trading Tuesday, Chinese equities tumbled more than 2%, then recouped all that loss within minutes. South Korean and Hong Kong shares outperformed in Asia, with Japanese and Australian benchmarks seeing more modest gains. Oil recovered a slice of recent losses, and traded back above $50 per barrel. U.S. Treasury yields also edged up, while the dollar was flat.China earlier set the daily yuan fixing …read more […]

“Today I’m introducing legislation to force PG&E to become a publicly owned utility,” California State Senator Scott Wiener said on Monday, adding it was time for a new approach at the utility company. …read more […]

(Bloomberg Opinion) — China’s Luckin Coffee Inc. hasn’t been having much luck lately. The last thing a retail business in the middle of a breakneck expansion needs is a deadly virus that keeps consumers off the streets and away from malls. What could be more damaging? Perhaps an attack by short-sellers branding your business a fraud.Shares in Nasdaq-listed Luckin Coffee plummeted 11% Friday after Carson Block’s Muddy Waters Capital tweeted that it has a short on the stock, citing an unattributed 89-page report it had received that alleged the chain has accounting issues and a broken business model. It could …read more […]

(Bloomberg) — Sign up for Next China, a weekly email on where the nation stands now and where it’s going next.The U.S. said it’s preparing for a possible pandemic and Hong Kong closed more checkpoints with mainland China, as the number of cases passed 20,000.As Beijing tries to contain the damage from the worsening crisis, officials are evaluating whether the target for economic growth this year should be softened. China is hoping the U.S. will agree to some flexibility on pledges in their phase-one trade deal, people familiar with the situation said.In the U.S., the Centers for Disease Control and …read more […]

As the United States shale boom slows down, oil companies are scrambling to find the next big unconventional play, and there’s a lot at stake …read more […]