Month: March 2020

(Bloomberg) — Stocks in Asia rallied after the best session for U.S. stocks in almost a dozen years, with investors rediscovering some appetite for risk as Congress negotiates an emergency-spending bill. U.S. equity futures declined, showing a reluctance to build on Tuesday’s gains.Japan equities opened about 3% higher, while Australian and South Korean shares bounced about 5%, with Asia-Pacific stocks heading for a second day of gains. S&P 500 futures retreated after the index soared more than 9% — the biggest one-day gain since October 2008. The dollar added to declines against developed and emerging currencies alike, in a tentative …read more […]

Investor focus Wednesday will surround coronavirus developments, durable goods orders and Micron earnings. …read more […]

Boeing Co plans to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban on its best-selling jet after fatal crashes, people familiar with the matter said on Tuesday. Boeing’s planning hinges on the scale of disruptions from the fast spreading coronavirus, and U.S. regulators clearing the 737 MAX to return to service, a milestone Boeing still expects to reach in mid-2020. One industry source said Boeing has asked some suppliers to be ready to ship 737 parts in April. …read more […]

Three orders of business today…
First, some profit taking.
Back in the beginning of February, when the market began to turn lower, I mentioned two stocks you should own throughout this crisis…
Stock No. 1: Teladoc Health.

Stock No. 2: Zoom.

If you followed along and bought either stock, you’re up huge – all in the midst of the biggest market panic since the Great Depression.
Teladoc Health is up around 60% since February. Zoom is up around 70% since February.
If you played either of these names, take your profits now!
Yes, I will continue to love each stock going forward. But right now, cash is king. …read more […]

Investor portfolios are being brutalized by the coronavirus.
But I have an important message for you…
Do not beat yourself up over what has happened to your portfolio over the past several weeks.
You could not have seen this coming.
Nobody did.
That includes people who are much, much smarter than you or me.
Today, I want to accomplish two very specific things as we work through this crisis together. I believe that we can not only get through it, but also profit from it.
I’ve been on the front lines of two similar market collapses, and those experiences are proving invaluable to me right now. I …read more […]

While the coronavirus’ impact on the market has meant, in most cases, a complete meltdown of companies’ value, there have been a number of outliers among the decimated names. Typically, these are the companies that offer the public and investors alike a product or service needed in such times. While no one would argue streaming is as important as a vaccine, some companies providing services in this field have held steady against the overall market’s decline.Netflix (NFLX), for example. Against the run of play, the streaming giant is up by 10% year-to-date, bolstered by a narrative which suggests more people …read more […]

Dow, Nasdaq and S&P 500 futures all dipped slightly after opening, as markets awaited word of a final bill in the Senate. …read more […]

Have investors forgotten about Micron (MU)? Amid all the attention surrounding coronavirus, it’s hard to argue if it feels that way. But with the chip giant expected to release earnings after market close tomorrow, the spotlight will be back on Micron.Ahead of the print, Susquehanna’s Mehdi Hosseini has been trimming estimates. Although, as the analyst notes, in the current climate it is hard to gauge earnings on a quarterly basis, the reduction is for earnings in FY20/21. The new targets are for EPS of $1.89/$4.39, down from the previous estimates of $2.26/$6.61.Nevertheless, Hosseini reiterates a Buy rating on Micron shares, …read more […]

…read more […]

(Bloomberg) — Record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production.Motivated by the “extremely low” prices, Suncor Energy Inc. announced on Tuesday that it will shut in one of its two so-called trains at its two-year-old, 194,000 barrel a day Fort Hills oil sands mine. The company also is delaying the start up of its MacKay River oil sands wells to May, after operations were halted in December because of a malfunction and fire.The move comes as the coronavirus pandemic slashes worldwide oil …read more […]