Trading Ideas

Dow has been cutting costs to offset a drop in demand for chemicals used in plastics, building materials and paints, amid a global slowdown. Dow, spun off in April after chemical conglomerate DowDuPont split into three, posted operating earnings of 78 cents per share, excluding certain items. …read more […]

(Bloomberg) — Enbridge Inc.’s proposal to convert its Mainline crude pipeline network to long-term contracts is hitting a fresh round of opposition, with Canada’s largest oil producer asking regulators to reject the plan.Canadian Natural Resources Ltd. said in a filing with the Canada Energy Regulator on Tuesday that Enbridge’s bid to change the Mainline from monthly service to long-term contracts is an abuse of market power and isn’t in the public interest. The producer asked the regulator to split its review of the proposal into two parts, with the first addressing whether the conversion should even be allowed.The opposition signals …read more […]

(Bloomberg) — The U.K.’s decision to allow China’s Huawei Technologies Co. to be involved in building its 5G telecom networks won’t affect trans-Atlantic intelligence sharing, despite U.S. threats to the contrary, Digital Secretary Nicky Morgan said.Britain gave the green light for Huawei kit to be used in non-sensitive parts of its new networks Tuesday, ending a protracted debate. In the run-up to the decision, there was a steady drumbeat of warnings from President Donald Trump’s administration that the U.S. may hold back secret intelligence if Prime Minster Boris Johnson pressed ahead with giving the company a role.Asked in a Bloomberg …read more […]

The European Commission will on Wednesday announce guidelines allowing EU countries to restrict or exclude high-risk 5G vendors from core parts of their networks, a move likely to hurt China’s Huawei Technologies but which may not appease the United States. The non-binding recommendations, agreed by the bloc’s 28 countries, seek to tackle cybersecurity risks at national and EU level, with concerns mainly focused on Huawei, although the guidelines do not identify any particular country or company. EU digital chief Margrethe Vestager and EU industry chief Thierry Breton will present the guidelines at a press conference later on Wednesday. …read more […]

(Bloomberg) — It could have been a lot worse for Hong Kong’s big market reopen as investors sought to gauge the widening impact of the coronavirus on China’s economy.The Hang Seng Index fell as much as 3% Wednesday on the first day of trading after the Lunar New Year. Though that was briefly its worst slide on a closing basis since October 2018, the index steadied to end the day 2.8% lower — matching its loss from Jan. 21. Meanwhile, the offshore yuan strengthened 0.1% to 6.9587 per dollar.While the stock declines were steep — especially for landlords, travel firms …read more […]

(Bloomberg) — Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Banco Santander SA expects to reach the higher end of its target for capital this year as the Spanish lender seeks to dispel persistent concerns that it needs to boost its financial strength. The bank forecasts that its key Common Equity Tier 1 capital ratio — a closely watched metric — will rise to close to 12% this year after gaining to 35 basis points in the fourth quarter to 11.65%. The lender made the forecast after earnings jumped in the fourth …read more […]

(Bloomberg) — U.S. and European stock futures edged up, oil clawed back some of its recent losses, and China’s yuan was stable in offshore trading as investors continued to assess the risks from the coronavirus.A senior official said the White House hasn’t asked for a suspension of U.S.-China flights, helping ease some concerns amid mounting evidence of a near-term economic hit from the disease. Most Asian benchmarks rose, while Hong Kong tumbled in a catch-up with the global sell-off since that market shut for holidays. China remains closed. Treasuries added to recent gains.The S&P 500 Index climbed 1% on Tuesday …read more […]

SINGAPORE/BEIJING (Reuters) – China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and U.S. producers in particular, but its plans spell more gloom for Asia’s hard-hit refining industry. Already the world’s No.2 oil refiner after the United States, China added 800,000 barrels per day (bpd) of capacity last year – 80% of the United Kingdom’s refinery throughput – and analysts expect a further 460,000 bpd to become operational in 2020. Chinese exports of diesel, gasoline and jet fuel combined jumped 20% in 2019, reaching as far as Mexico, …read more […]

The Chinese territory of Macau has become a near-ghost town during what is typically the busiest time of year in the world’s biggest casino hub, after authorities announced a raft of measures to keep visitors away and contain the new coronavirus. The local government late on Tuesday said it would curb its individual visit scheme through which visitors gain entry from mainland China, days after it suspended inbound package tours. The steps come as deaths from the coronavirus reached 132 in China on Wednesday with 1,500 new cases. …read more […]

(Bloomberg) — Apple Inc. issued a wider-than-usual sales forecast to reflect what Chief Executive Officer Tim Cook called “uncertainty” caused by a virus outbreak that’s cutting retail traffic, shutting stores and prompting the company to limit employee travel in China, one of its most important markets.The company is also taking steps to make up for production shortages, particularly in Wuhan, the central Chinese city where the coronavirus originated and home to some of the company’s suppliers, Cook said on a conference call discussing recent results. Sales in the current period will be $63 billion to $67 billion. While that’s higher …read more […]

(Bloomberg) — U.K. Prime Minister Boris Johnson risked a rift with President Donald Trump as he gave Huawei Technologies Co. the green light to help develop Britain’s next-generation broadband networks.While the U.K. government announced it will keep what it calls high-risk vendors such as Huawei out of the most sensitive core parts of its 5G mobile networks, the company will be able to supply other equipment that is critical to the roll-out of broadband such as antennas and base stations.That is a blow to the Trump administration, which wanted Johnson to impose an outright ban on the Shenzhen-based tech giant, …read more […]

Dow components Boeing and McDonald’s will report earnings before the opening bell, and tech behemoths Facebook, Microsoft and Tesla will round things out after the market close. …read more […]

Among larger U.S airlines, Alaska Airlines was one of the last carriers to take so-called segmentation seriously. But the airline has caught up, slicing and dicing its cabins to maximize revenue, executives said Tuesday on their fourth quarter earnings call. Since 2017, Alaska has added several new products, including what it calls premium class, for […] …read more […]

Boeing will report earnings as the crisis over the 737 MAX plane continues to overshadow the company. …read more […]

(Bloomberg) — Tim Hortons restaurants have stopped selling Beyond Meat products at its coffee and donut shops across two of Canada’s biggest provinces.The chain had been serving the Beyond Burger and a Beyond Meat breakfast sandwich made with the company’s imitation sausage products. After an initial launch starting in June at nearly 4,000 Canadian locations, the items were scaled back to the provinces of Ontario and British Columbia in September.“We introduced Beyond Meat as a limited time offer. We are always listening to our guests and testing new products that align to our core menu offerings. We may offer Beyond …read more […]