Month: October 2020

(Bloomberg) — U.S. President Donald Trump said he would begin self-quarantine while waiting for coronavirus test results after Hope Hicks, one of his closest aides, tested positive for Covid-19. Hicks traveled with Trump aboard Air Force One to and from the presidential debate in Cleveland on Tuesday.Amazon.com Inc. said close to 20,000 of its employees had tested positive for the virus during the pandemic. A $1 billion funding package to help the U.S. Centers for Disease Control and Prevention fight Covid-19 has remained mostly unspent, people familiar with the matter said.Key Developments:Global Tracker: Cases pass 34.1 million; deaths exceed 1 …read more […]

(Bloomberg) — Oil headed for a second weekly loss amid growing concern the global energy demand recovery has stalled, although figures showing OPEC’s crude output held steady last month eased fears of a potential glut.Futures in New York fell toward $38 a barrel Friday after slumping 3.7% on Thursday. The chance of any more U.S. fiscal stimulus before the November election appeared to be fading after talks yielded no immediate breakthrough. The coronavirus is resurgent in Europe and hasn’t been brought under control in big economies such as India, leading to a chorus of forecasters scaling back their estimates for …read more […]

DraftKings’ (DKNG) short time as a publicly traded company has been a huge success. With a year-to-date share gain of 478%, the online sports betting (OSB) player is riding a momentum wave that shows no signs of slowing down yet.But this could only be the opening salvo. DraftKings operates in a sector which is just getting started and might turn into a very lucrative industry. In fact, Needham analyst Brad Erickson estimates the OSB industry could be worth “between $42 and $58 billion annually longer-term.” The 5-star analyst expects DraftKings to make good use of the opportunity at play.Erickson counts …read more […]

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(Bloomberg) — Trades in which tens of millions of dollars were spent betting on the biggest American technology companies have again surfaced in the options market, weeks after the Japanese conglomerate SoftBank Group Corp. was linked to similar wagers.Amazon.com Inc., Facebook Inc. and Netflix Inc. were among companies that saw block trades of call contracts Thursday, representing speculation on movements in their shares through the first months of next year. Call options are bullish bets by themselves but can also be paired with other positions as part of a hedge.The identity of the buyer wasn’t known. Analysts noted a resemblance …read more […]

Members just cashed out of Peloton in a big way.
A couple of weeks ago I told War Room members about stocks that have been dominant players in their fields.
Two of them, DraftKings (Nasdaq: DKNG) and Peloton (Nasdaq: PTON), are at the top of the list, proving they are the best of breed.
In fact, Trade of the Day members cashed in on DraftKings, which I recommended to you in these very pages at around $32. The price hit $63 this morning!
Peloton is a different creature but shares the same types of characteristics. The only difference is you can’t ride your Peloton …read more […]

Until yesterday, shares of CTI BioPharma (CTIC) had been firmly planted in the red in 2020. But sentiment can turn fast in the biotech world and the cancer drug maker provided investors with a dreamy week. The stock surged 135% over the past two trading sessions, after the FDA cleared the way for one of its treatment’s quick approval.Specifically, the company announced that after a pre-NDA meeting with the FDA, the agency has granted the biotech a rolling NDA submission for possible accelerated approval of pacritinib in thrombocytopenic myelofibrosis patients. The NDA submission should be completed by 1Q21.CTI managed to …read more […]

CNBC’s Jim Cramer has been bashing SPACs on Twitter and his show this week. That drew attention from the so-called SPAC King Chamath Palihapitiya.What Happened: Cramer recently highlighted Spartan Energy Acquisition (NYSE: SPAQ), a SPAC merging with Fisker. Cramer compared Henrik Fisker and his company to Nikola (NYSE: NKLA) and Trevor Milton, the Nikola founder who resigned.On Wednesday, Cramer told his 1.4 million Twitter followers “I am sick of SPACs!.” A simple response came from Palihapitiya:> Why?> > — Chamath Palihapitiya (@chamath) October 1, 2020Cramer’s Thoughts On SPACs: Cramer tweeted to “Squawk Box” host Andrew Ross Sorkin, “Why do investors …read more […]

The oil and gas sector has gotten crushed in 2020. And unlike much of the rest of the market, it has not rebounded from our brutal March crash.
Incredibly, the sector now trades below where it was in April, when the price of oil actually went negative for a stretch!
Here is the not-so-pretty picture of the Energy Select Sector SPDR Fund (NYSE: XLE) over the past three years…

This has the contrarian in me intrigued.
Given that oil is at $40 (and not below zero, like it was in April), a person might be inclined to think that share prices of energy companies …read more […]

Stock futures traded flat late Thursday as investors awaited the Labor Department’s September jobs report Friday morning, and considered dimming prospects for further fiscal stimulus in the near-term. …read more […]

Two key House of Representatives Democrats on Thursday urged the Federal Aviation Administration (FAA) to release all documents related to the government’s 18-month review of the grounded Boeing 737 MAX. Representatives Peter DeFazio, who chairs the House Transportation and Infrastructure Committee, and Rick Larsen, who heads an aviation subcommittee, said that the FAA should not give the plane the go-ahead to fly commercially again before it releases “system safety assessments, related analysis, assumptions about pilot response times and key test data concerning the safety of the aircraft.” Boeing declined to comment. …read more […]

MONTREAL, Oct. 1, 2020 /CNW/ – Turquoise Hill Resources Ltd. …read more […]

Morgan Stanley analyst Adam Jonas says Tesla’s sales in China could drop to nothing by 2030. …read more […]

Fed officials have said the specifics behind its new approach to targeting 2% inflation will not be a concern for a while, with the central bank committing to keeping rates near-zero for at least the next few years. …read more […]