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Volkswagen truck unit Traton offers $2.9 billion to take over Navistar

Navistar shares shot up by 50% to just over $36 a share in after-hours trading following Traton’s proposal, suggesting investors expect a potential deal could be richer than Traton’s opening offer. Traton said its offer was subject to Navistar and Traton reaching a merger agreement. …read more […]

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Exxon quarterly profit falls 5.2% on weak refining, chemical margins

Exxon Mobil Corp reported a 5.2% drop in fourth-quarter profit on Friday, as assets sales propped up flat year-over-year oil and gas output and weakness in its refining and chemicals businesses. Oil companies last quarter suffered from weaker prices for their products, and in Exxon’s case it has been spending heavily to boost its oil output to reverse production declines. Net income attributable to Exxon fell to $5.69 billion, or $1.33 per share, in the three months ended Dec. 31, from $6 billion, or $1.41 per share, a year earlier. …read more […]

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Why FAANG Stocks Are an Investing Powerhouse

Did you hear about FAANG stocks and wonder what they are? No, it’s not about investing in vampires, although that would be cool. Investing in FAANG stocks means taking a bite – sorry couldn’t resist – out of some of the very best companies on the market.
What are FAANG Stocks?
The acronym “FAANG” represents five of the leading American technology stocks on the market:

Facebook (Nasdaq: FB)
Amazon (Nasdaq: AMZN)
Apple (Nasdaq: AAPL)
Netflix (Nasdaq: NFLX)
Google (Nasdaq: GOOG)

In other words, the creme de la creme of social media, e-commerce, computer and phone hardware, streaming media, and internet search. These are all core areas of the …read more […]

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VW Plots U.S. Truck Expansion With $2.9 Billion Navistar Offer

(Bloomberg) — Volkswagen AG offered to buy the rest of Navistar International Corp. in a $2.9 billion bid to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler AG and Volvo AB.The expansion was somewhat offset by Volkswagen’s first major divestment since the German automaker skidded into the diesel-emissions scandal in 2015. An agreement to sell industrial machinery unit Renk AG, valued at 760 million euros ($840 million), indicates VW is more inclined to bulk up than slim down, even amid the costly shift to electric cars.The swoop for Navistar, which was first reported …read more […]

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Aston Martin to Sell Stake to Formula One Billionaire

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Aston Martin Lagonda Global Holdings Plc secured a 500-million-pound ($656 million) lifeline to restore the balance sheet and help build a new sport-utility vehicle after agreeing to sell a stake to billionaire Lawrence Stroll.The shares posted their biggest gain ever on Friday after Aston Martin said a group led by Stroll will buy as much as 20% of the U.K. luxury carmaker as part of a rescue package.The Canadian investor will become executive chairman, according to a statement Friday. Bloomberg News reported …read more […]

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Swiping their way higher: Visa, Mastercard could be the next $1 trillion companies

Soaring stock prices are propelling credit and debit card companies Visa Inc and Mastercard Inc up the market value charts, where they currently rank 7th and 11th among companies in the benchmark S&P 500 index. The stock prices of both Visa and Mastercard have gained roughly 50% in the past year. While the stocks may not keep up that torrid pace, Visa and Mastercard would each be worth over $1 trillion by 2023 if their average annual gains of the past three years were to continue, surging past the likes of Facebook Inc and Berkshire Hathaway Inc, if …read more […]

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A Way to Halt Natural Gas Flaring Arrives on the Back of a Truck

(Bloomberg) — Perched on the back of a semi-trailer is the latest weapon in tackling the problem of wasted natural gas that oil producers often vent into the air or even burn off at the wellhead.Cryobox takes fuel directly from wells and turns it into liquefied natural gas, which is easy to store and transport.For small gas fields uneconomical or too distant to connect to a traditional pipeline network, this small-scale LNG plant is a solution to absorb fuel that would otherwise be wasted. That also makes it a way to prevent greenhouse gas emissions that contribute to global warming …read more […]

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Oil Rebounds After WHO Says There’s No Need for Travel Bans

(Bloomberg) — Oil jumped after the World Health Organization said there’s no need for travel and trade bans due to the coronavirus, but was still set for its worst month since May as the outbreak sapped the demand outlook.The WHO declared a public health emergency of international concern, but said restrictions on commerce weren’t necessary and that it had confidence in China’s ability to control the virus. However, that was undercut by the U.S. government telling Americans not to travel to China. Crude got a further boost after a non-manufacturing purchasing managers’ index in Asia’s largest economy beat estimates, helping …read more […]

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China’s Financial Markets Will Reopen to a Barrage of Selling

(Bloomberg) — Every other market has already reacted to the deadly virus threatening China’s economy. Soon it will be China’s turn, and it’s likely to be brutal.Stocks and commodities will almost certainly sink when financial markets reopen Monday for the first time since Jan. 23, while bond yields will drop. For equities, the declines are likely to be exacerbated by the amount of leverage in the market — near the highest in 11 months. That could create a downward spiral where steep losses become steeper as traders face margin calls.As an example of how extreme selling can be: In May …read more […]

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Amazon holiday sales jump as one-day shipping pays dividends, stock up 13%

If the share gain holds on Friday, it will be the biggest daily jump for Amazon since October 2017. Amazon also forecast operating income of up to $4.2 billion in the current quarter, down from $4.4 billion the year prior. Amazon Chief Financial Officer Brian Olsavsky told reporters that additional investment in one-day shipping came slightly under the $1.5 billion the company had forecast for the fourth quarter, despite more customer orders. …read more […]