SoftBank Group Corp said it sees a loss of around 700 billion yen ($6.6 billion) in the year ending March on the portion of its WeWork investment held outside the Vision Fund, extending the group’s expected net loss to 900 billion yen.
Some biotech stocks have been on fire during these COVID-19 driven times. Hardly a surprise, as these companies are at the forefront of finding a solution to the pandemic and bringing viable treatments, vaccines or adequate tests to market. Case in point: Vaccine maker BioNTech (BNTX), which has been mooted as the provider of a possible coronavirus vaccine, and has seen its shares rising 45% year-to-date.Yet, despite liking the company’s vaccine program, Project Lightspeed, JPMorgan’s Cory Kasimov believes the current valuation is just about right.Kasimov said, “We continue to view BNTX as a potentially disruptive company with access to multiple …read more […]
Tesla CEO Elon Musk assailed the social distancing measures in place over the past several weeks in the electric car-maker’s home state of California and across the country, which led to a weeks-long closure at the company’s flagship Fremont factory. …read more […]
Tesla Inc’s outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak “fascist” as the electric carmaker posted its third quarterly profit in a row.
Asian equity markets were poised to gain on Thursday, tracking Wall Street’s rally after positive trial results of an experimental COVID-19 treatment, a U.S. Federal Reserve pledge to shore up the economy and a jump in oil prices.
Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday and said it has seen “signs of stability” for sales in April after a plunge in March, in yet another signal that tech giants may weather the coronavirus-induced economic collapse better than other sectors.
The electric car company said forced shutdowns and limits on deliveries had clouded its forecast. …read more […]
Microsoft Corp on Wednesday beat Wall Street sales and profit expectations, powered by sharp demand for its Teams chat and online meeting app and Xbox gaming services as the world shifted to working and playing from home because of the novel coronavirus pandemic.
(Bloomberg) — Boeing Co. soared after executives outlined a road map to survive the worst downturn in aviation history, and assured investors that the company has the means to make it through. If all goes to plan, the aerospace titan will be generating cash again by next year.The U.S. planemaker is shrinking its workforce by about 10%, or about 16,000 jobs, to conserve cash. Work will slow in its factories, with 787 Dreamliner output cut for a third time in successive quarters. Boeing expects to restart production of the grounded 737 Max this quarter at a gradual pace as key …read more […]
U.S. stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.
In yesterday’s Trade Talk Tuesdays video, I teased the details behind my recent “lotto scratcher” play on Bed Bath & Beyond (Nasdaq: BBBY).
In short, this play doubled overnight – and it’s still “in play” right now.
So here’s the scoop…
Back on April 15, I shared this with War Room members:
As a reminder, after the close today, Bed Bath & Beyond reports earnings. We all know that the stock is in trouble. Perhaps it’s even approaching “dumpster fire” levels. However, there’s a MAJOR short squeeze that could possibly be in the works. Right now, more than 69 million Bed Bath & Beyond …read more […]
The economy is in shambles. A White House economic advisor expects U.S. gross domestic product to fall by an unimaginable 20% to 30% in the second quarter this year. He also expects Great Depression levels of unemployment.
As a result, we’ve adjusted our ratings here at SafetyNet Pro headquarters to adopt a much more conservative stance.
What Is SafetyNet Pro?
SafetyNet Pro is a groundbreaking tool that predicts dividend cuts with stunning accuracy. With it, you can determine the dividend safety rating of nearly 1,000 stocks. Access to SafetyNet Pro is reserved exclusively for subscribers of Marc’s newsletter, The Oxford Income Letter. To …read more […]
(Bloomberg) — Oil advanced a second day in Asia on early signs that demand is starting to recover while producers curb output to counter a global glut.Futures in New York rose as much as 6%, after surging 22% on Wednesday. U.S. gasoline stocks fell by 3.67 million barrels compared to an estimated build of 2.49 million, the U.S. Energy Information Administration said Wednesday. Weekly gasoline supplied, an indicator of demand, rose by 549,000 barrels a day, the most since May.The discount on crude for June delivery relative to July, a structure known as contango, tightened to as little as $3.28 …read more […]
Stock futures extended gains Wednesday evening as investor optimism over a coronavirus treatment and a batch of strong earnings results buoyed risk assets. …read more […]
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