Month: March 2020

(Bloomberg) — U.S. futures dropped after the first three-day rally in American equities since mid-February, and Asian stocks came off their highs Friday as investors assess whether the worst is over for the rout in risk assets.The S&P 500 rose more than 6% Thursday after the U.S. Senate passed a $2 trillion fiscal package. Equity benchmarks were up about 2% in Tokyo, Hong Kong and Seoul, while early gains in Australia gave way to a modest retreat. The MSCI All Country World Index is on course for a 13% rise this week, following a crash that dragged stocks around the …read more […]

(Bloomberg) — American stock futures declined, cooling off after the first three-day rally since February as investors speculated whether government and central-bank aid will offset the pandemic’s damage to the economy.Contracts on the S&P 500 were down 0.9% at 2,585.50 as of 10:36 a.m. in Tokyo. The underlying gauge surged almost 18% over Tuesday-Thursday in the biggest rally since 1933, while the Dow Jones Industrial Average climbed 20% above its recent low, meeting the technical definition of a bull market.The U.S. overtook China for the most coronavirus cases worldwide, fueled by a large jump in infections in New York. Still, …read more […]

(Bloomberg) — Singapore Airlines Ltd. plunged after saying it would issue new shares and bonds in an effort to raise about S$8.8 billion ($6.2 billion) to contend with the devastating impact of the coronavirus pandemic. State investor Temasek Holdings Pte., the carrier’s biggest shareholder, said it would back the resolutions.The airline’s shares slid as much as 10% to S$5.82 Friday morning following a trading halt Thursday. They are down 35% this year.The carrier will issue S$5.3 billion in new stock at S$3 apiece, 54% lower than the last closing price on Wednesday, according to a statement released early Friday in …read more […]

Everything from the 5G revolution to the advancement of the American military is dependent on a key metal which is flying under most investors’ radar …read more […]

When considering the fortunes of the FAANG family since the viral outbreak, it appears Apple (AAPL) has most to lose. Amazon and Netflix can count their internet driven models as particularly well set up for a hibernation period. And while Google and Facebook stand to lose significant advertising revenue, they are still less reliant on physical product. Apple, on the other hand, has seen the disruption to its supply chain and production line severely impact this year’s plans.The giant from Cupertino was laying the groundwork for a September launch of the iPhone 12, the first model to boast 5G capabilities. …read more […]

Although the current period will no doubt be remembered as the time when the world fought the invisible enemy coronavirus, its is safe to assume the Street will also remember the period’s extreme bouts of volatility, too. Case in point: Nvidia (NVDA) stock had its best performing week in over two years, skyrocketing 25%.Adding to the good news, Needham’s Rajvindra Gill upgraded his rating on the chipmaker from Hold to Buy. However, Gill’s price target of $270 implies modest upside from current prices. (To watch Gill’s track record, click here)So, what is behind the 5-star analyst’s reevaluation? While acknowledging that …read more […]

The U.S. Justice Department has approved United Technologies Corporation’s planned merger with Raytheon Co , subject to conditions, the agency said on Thursday. UTC agreed in June to combine its aerospace business with U.S. contractor Raytheon and create a new company worth about $121 billion, in what would be the sector’s biggest ever merger. To win U.S. approval, the companies agreed to divest Raytheon’s military airborne radios business, including facilities in Indiana and Florida, and UTC’s military global positioning systems, including a facility in Connecticut. …read more […]