Trading Ideas

How far off is Barrick Gold Corporation (TSE:ABX) from its intrinsic value? Using the most recent financial data… …read more […]

The timetable for delivery of the Oxford University/AstraZeneca COVID-19 vaccine candidate has slipped, the UK’s vaccine chief said, adding Britain will receive just 4 million doses of the shot this year. Britain had agreed in May to take 100 million doses of the vaccine, developed by Oxford University and licensed to AstraZeneca, with 30 million doses estimated for delivery by September 2020. Oxford’s trial chief said on Wednesday that he now hoped they would come by the end of the year, though the exact timing is unclear as it depends on infection numbers. …read more […]

(Bloomberg) — Joe Biden stood on the brink of claiming the presidency from Donald Trump on Thursday, with a handful of states expecting to complete their vote counts despite Republicans opening legal fights to stop counting in at least two states.Biden held 264 Electoral College votes out of the 270 needed to win the White House, according to the Associated Press. Trump has 214.Biden needs only to win an additional outstanding state, such as Nevada where he is leading, or Georgia, where his campaign believes absentee votes will push him over the top.The former vice president said he expects to …read more […]

(Bloomberg) — History suggests the post-election day rally in U.S. stocks bodes well for further gains over the next three months.The S&P 500 Index jumped 2.2% on Wednesday, its best performance the day after a U.S. presidential vote in data going back to 1932, according to Sundial Capital Research Inc. The benchmark’s median gain over the following three months has been 4.4%, its analysis shows.“A good initial reaction following the election has been a very good sign,” Sundial president Jason Goepfert wrote in a note, adding this was the first time the S&P 500 rose over 1.5% on both the …read more […]

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(Bloomberg) — The world’s biggest solar power company says a shortage of glass is raising costs and delaying production of new panels, throwing a wrench into China’s plans to accelerate its shift to clean power.Prices for glass that coats photovoltaic panels have risen 71% since July, and manufacturers are struggling to produce it fast enough to keep more than a week’s worth of sales in inventory, according to Daiwa Capital Markets. The shortage comes as the solar industry turns toward bifacial panels, which increase both power output and glass requirements.Solar panel producers like Longi Green Energy Technology Co. have asked …read more […]

(Bloomberg) — U.S. stock futures rose after unbridled investor demand for technology and health-care stocks sent benchmark indexes to some of the strongest gains of the year.S&P 500 futures for December climbed 1% at 3:02 p.m. in Tokyo, while Nasdaq 100 contracts gained 1.7%. The underlying S&P 500 advanced more than 2% on Wednesday and the Nasdaq 100 surged more than 4% in its best rally since April, with the session dominated by groups whose relative immunity from the economic cycle have made them defensive havens all year.Index futures also rose after Joe Biden won Michigan and Wisconsin, putting him …read more […]

Qualcomm Inc (NASDAQ: QCOM) shares spiked 12% during the after-hours session Wednesday. The surge came as the chipmaker said it foresees the demand for 5G smartphones to double the shipments next year, with a forecasted range between 450 million to 550 million smartphones.What Happened: Aside from smartphones, the company also expects to gain from the Internet of Things and networking gears segments, according to the Wall Street Journal.On Wednesday, Qualcomm released its financials for the fourth quarter and the fiscal year ended Sept. 27. GAAP revenues of $23.53 billion for fiscal 2020 fell by 3% year-over-year, whereas GAAP diluted earnings …read more […]

(Bloomberg) — The mid-level bureaucrats left China’s richest man waiting as they prepared for a meeting that would send shockwaves across the financial world.It was Monday morning in Beijing, and Jack Ma had been summoned to the China Securities Regulatory Commission just days before he was set to take Ant Group Co. public in the biggest stock-market debut of all time.When the regulatory officials finally entered the room where Ma was waiting, they skipped over pleasantries and delivered an ominous message: Ant’s days of relaxed government oversight and minimal capital requirements were over. The meeting ended without a discussion of …read more […]

Analysts expect Biden to likely enact larger stimulus measures than his Republican incumbent, even as chances of a divided Congress could stymie Biden’s fiscal policy efforts. Gold tends to benefit from widespread stimulus measures as it is widely viewed as a hedge against inflation and currency debasement. …read more […]

(Bloomberg) — China’s yuan is emerging as one of the most sensitive assets to the outcome of the U.S. presidential elections.The offshore yuan climbed as much as 0.9% in late trading Wednesday to 6.6202 per dollar, its strongest level since July 2018, after earlier falling as much as 1.4%. That was the biggest intraday swing since the day after Beijing devalued the currency in August 2015. The currency’s one-week implied volatility — a proxy for market risk — fell from a record high, while traders reduced their hedges against yuan weakness.The yuan is particularly sensitive to the election outcome given …read more […]

(Bloomberg) — A blank-check company backed by former Citigroup Inc. rainmaker Michael Klein is among the parties interested in buying a stake in AT&T Inc.’s DirecTV satellite-television business, according to people with knowledge of the matter.Churchill Capital Corp. IV, which raised $2.07 billion in July, is working with advisers on a potential bid for the asset, the people said, asking not to be identified because the discussions are private.AT&T has been seeking investors to buy a significant stake in the business, allowing the telecom and media giant to remove DirecTV from its books while maintaining access to some of its …read more […]

(Bloomberg) — Apple Inc. is grappling with a shortage of vital chips that manage power consumption in iPhones and other devices, people with knowledge of the matter said, potentially threatening its ability to meet holiday demand for the latest version of its marquee gadget.It’s unclear to what extent the bottleneck may limit iPhone availability during its crucial launch quarter, typically Apple’s busiest. Despite the shortfall, suppliers are likely to prioritize Cupertino, California-based Apple and its power-hungry iPhone 12 over other customers lining up for scarce parts, said the people, who asked not to be identified discussing private matters.Trade restrictions and …read more […]

U.S. oil prices dropped on Thursday as the dollar strengthened on growing expectations Democrat Joe Biden would win the U.S. presidential election but the Republicans would retain Senate control, holding back any huge COVID-19 relief package. U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, or 1%, to $38.75 a barrel at 0141 GMT, while Brent crude futures dropped 41 cents, or 1%, to $40.82 a barrel. Oil prices generally fall as the U.S. dollar rises because crude priced in dollars becomes more pricey for foreign buyers. …read more […]

(Bloomberg) — Wells Fargo & Co. plans to freeze raises for top earners as the bank’s new leadership team retools compensation practices with a close eye on costs, according to people briefed on the plans.The measure, revealed to some managers on a conference call Wednesday, will halt increases in base pay in the coming year for employees making more than $150,000, the people said. It’s at least the second time in just a few weeks that the firm has sought to limit the expense of rewarding well-paid employees.A spokesperson for the San Francisco-based lender declined to comment.Chief Executive Officer Charlie …read more […]