Month: May 2020

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Trading Ideas

Top Analyst Sees the Value of These 3 Airline Stocks Differently Than Warren Buffett

May 11, 2020 admin Comments Off on Top Analyst Sees the Value of These 3 Airline Stocks Differently Than Warren Buffett

On May 2nd at Berkshire Hathaway’s annual shareholder meeting (also known as Woodstock for Capitalists), in rather dramatic fashion, Warren Buffett announced publicly that Berkshire had unloaded its entire positions of airline stocks. It amounted to a roughly $4 billion fire sale of the leading domestic players – United Airlines, American Airlines, Delta Airlines, and Southwest Airlines.As you know, Mr. Buffett isn’t known for making rash or snap decisions on his holdings. It’s been widely known that his favorite holding period is forever. In Buffett’s mind, this about-face boiled down to a belief that the world had quickly changed for …read more […]

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Business News

Oil prices rise on Saudi voluntary cuts

May 11, 2020 admin Comments Off on Oil prices rise on Saudi voluntary cuts

Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears of a second wave of coronavirus infections.

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Trading Ideas

Saudis Deepen Oil Output Cuts in Effort to Prop Up Market

May 11, 2020 admin Comments Off on Saudis Deepen Oil Output Cuts in Effort to Prop Up Market

(Bloomberg) — Saudi Arabia announced an extra voluntary oil-production cut of 1 million barrels a day, bringing output to its lowest in 18 years as the kingdom tries to prop up a nascent recovery in energy markets.Oil prices, which were down on the day, immediately turned around, with West Texas Intermediate futures jumping as much as 3.4%.Riyadh aims to pump just under 7.5 million barrels a day in June, compared with an official target under the most recent OPEC+ agreement of just under 8.5 million a day. If Saudi Arabia makes good on its pledge, its production will drop to …read more […]

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Trading Ideas

Musk Emerges as Loudest Reopen Proponent With Tesla Threats

May 11, 2020 admin Comments Off on Musk Emerges as Loudest Reopen Proponent With Tesla Threats

(Bloomberg) — Tesla Inc. asserts that restarting its operations in the midst of the coronavirus pandemic doesn’t make the company an outlier, nor is it going against the grain.But its chief executive officer’s handling of the health crisis has been anything but ordinary. Tesla sued the county blocking its car plant from reopening, with Elon Musk calling the local health officer — a former infectious diseases professor with a master’s degree in public health — “unelected & ignorant.” He threatened to move Tesla’s headquarters out of California, warning that all its manufacturing may leave the state, too.The weekend flare-up was …read more […]