Month: July 2020

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Norwegian Cruise Line (NCLH) Stock Isn’t Worth the Risk

July 24, 2020 admin Comments Off on Norwegian Cruise Line (NCLH) Stock Isn’t Worth the Risk

As the cruise line sector hoped to get good news on restarting cruises in the U.S., Norwegian Cruise Line Holdings (NCLH) shareholders got hit with a double whammy. Not only did the Center for Disease Control and Prevention delay vessels sailing from U.S. waters, but also the company diluted shareholders again via another equity offering.The cruise lines aren’t investable with no ability to plan cruises in large parts of their markets. With the additional risk of a virus infection on one of the initial cruises setting the restart plans back possibly months and until a vaccine exists, Norwegian isn’t worth …read more […]

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Move Over Gold. Wood Is the Shelter of Choice in the Pandemic

July 24, 2020 admin Comments Off on Move Over Gold. Wood Is the Shelter of Choice in the Pandemic

(Bloomberg) — As economies struggle to recover in the pandemic and U.S.-China tensions flare, investors piling into precious metals may be overlooking another potential haven: wood.Lumber futures have doubled since early April and are the top-performing major raw material this year. Surprisingly, wood is even outshining gold and silver, traditionally the go-to haven commodities.While lockdowns and stay-in-place restrictions were expected to curb demand for building materials, North Americans stuck inside decided to spend money and renovate their homes just as aggressive production cuts tightened supplies.To be sure, lumber trades at much lower volume than gold and other metals and is …read more […]

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Novavax’s 3,500% Surge on a Covid-19 Vaccine Faces First Test

July 24, 2020 admin Comments Off on Novavax’s 3,500% Surge on a Covid-19 Vaccine Faces First Test

(Bloomberg) — Novavax Inc.’s Covid-19 vaccine results are expected imminently and scientists will be scanning the data to gauge the shot’s promise. At the same time, day traders — who’ve snapped up shares since March — will be looking for the more than $7 billion surge in value to hold.Vaccine candidates presented so far have detailed initial patient antibody and T-cell responses and compared them with levels seen in patients who have recovered from the virus. Investors will be looking for those initial immune-system responses when Novavax reveals its data, likely sometime next week.Novavax is on its way to becoming …read more […]

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FirstEnergy Works to Distance Itself From Ex-Unit Amid Probe

July 24, 2020 admin Comments Off on FirstEnergy Works to Distance Itself From Ex-Unit Amid Probe

(Bloomberg) — FirstEnergy Corp.’s chief executive officer on Friday pushed to distance the company from its former unit that owns nuclear plants benefiting from an Ohio state law at the crux of an alleged racketeering and bribery conspiracy.CEO Charles Jones said the company hasn’t had control of decisions made by its former FirstEnergy Solutions unit, now Energy Harbor, since November 2016. And he said FirstEnergy is in talks with U.S. Justice Department lawyers after receiving subpoenas related to the alleged racketeering conspiracy involving to the passage of the reactor subsides last year.“FirstEnergy acted properly in this matter, and we intend …read more […]

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Musk’s Tesla Benefited From Stimulus, But He Opposes More Now

July 24, 2020 admin Comments Off on Musk’s Tesla Benefited From Stimulus, But He Opposes More Now

(Bloomberg) — Elon Musk, whose Tesla Inc. was a major beneficiary of government stimulus in the wake of the last global financial crisis, has soured on the concept.The outspoken chief executive officer of both Tesla and U.S. government contractor SpaceX tweeted Friday that “another government stimulus package is not in the best interests of the people,” in his opinion.A decade before Tesla became the world’s most valuable automaker by market capitalization, the company survived the Great Recession by the skin of its teeth — in Musk’s own words — thanks in part to a $465 million federal loan to design …read more […]