Month: October 2020

When it comes to Tesla (TSLA), valuation is an unfashionable metric. For the electric car maker, there has been a major disconnect between the fundamentals and the valuation, and now, one analyst is getting to the bottom of it.Needham’s Rajvindra Gill tells clients he has never seen a stock “rise that much that fast with such little regard to past fundamentals.” Shares have skyrocketed 451% year-to-date, compared to the S&P 500’s 8% gain. To this end, he took a look at TSLA’s unprecedented valuation to eliminate the noise surrounding this company.As part of this analysis, Gill asked “three fundamental questions: …read more […]

Airline earnings season kicked off with a bang, not a whimper, Tuesday morning — but unfortunately, not the good kind of “bang.” Industry leader Delta Air Lines (DAL) reported exploding losses of $3.30-per-share loss (analysts were only expecting $3, even), despite sales falling just below consensus estimates at $3.1 billion.Nor are things improving rapidly. Q4 revenue projections remain down as much as 70% from a year ago.At last report, Delta was burning through $24 million in cash per day. That’s the bad news. The “good” news is that it’s burning through only $24 million per day — which works out …read more […]

The markets have shown some ups and downs in recent sessions, but their general trend right now is upward. There may be several factors behind this; investors may be less nervous about the upcoming national election, as the polls continue to show a wide lead for former Vice President Biden, or they may be more sanguine about the prospect of a new ‘corona stimulus.’ Whatever the reason, after a rough September, October’s trading has shown a decidedly bullish cast.In any case, finding the right stock in a time of higher than average volatility presents its own challenges. Stocks are sensitive …read more […]

When Tesla Inc (NASDAQ: TSLA) announced the Model Y, it came in several versions, including a seven-seater and a standard range version. Since then, the standard range version has been canceled — leaving doubts that the seven-seat option would ever come.It remains listed on Tesla’s website as “available in 2021.”But now it seems it will be available early, just as the Model Y itself was released earlier than expected.The seven-seat Model Y will begin production in November, with the first deliveries in early December, CEO Elon Musk said in a tweet Wednesday.It’s still unknown how exactly the third row will …read more […]

Stock futures struggled for direction Wednesday evening as investors considered fast-dimming prospects for fiscal stimulus before the election and a lukewarm batch of corporate earnings results. More quarterly reports are due out Thursday morning, along with the Labor Department’s latest weekly print on new jobless claims. …read more […]

The bank believes some of its staffers made “false representations in applying for coronavirus relief funds for themselves”, defrauding the U.S. Small Business Administration, David Galloreese, head of Human Resources, said in an internal memo seen by Reuters. The abuse was tied to the Economic Injury Disaster Loan program and outside the employees’ roles at the bank, the memo said, adding Wells Fargo will cooperate fully with law enforcement. …read more […]

(Bloomberg) — A unit of Warren Buffett’s Berkshire Hathaway Inc. claims a top international law firm helped German piping component maker Wilhelm Schulz GmbH fraudulently conceal its disastrous finances before its 2017 acquisition by the U.S. company.Berkshire unit Precision Castparts Corp. sued 2,500-lawyer Jones Day, which represented Schulz in the $940 million acquisition, in a state court in Houston, alleging the firm played a “substantial role in aiding and abetting” a scheme to mislead Precision into signing a deal worth a fraction of the purchase price.The suit is an attempt to put Jones Day on the hook in case Schulz …read more […]

(Bloomberg) — Zoom Video Communications Inc. Chief Executive Officer Eric Yuan said the company will do a better job integrating office chatroom products from Slack Technologies Inc. and Microsoft Corp., betting that cooperation is better than competition for the software maker’s growth.“Chat is a very important functionality for our overall usage,” Yuan said Wednesday during an online meeting with analysts. “The core priority is how to further improve the integration between chat, video and voice.”Customers are satisfied with Zoom’s current chat sidebar during videoconferences and the company isn’t interested in chasing Slack and Microsoft Teams by delving further into the …read more […]

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Third Bridge Global Sector Lead Peter McNally joins The Final Round to break down his thoughts on United Airlines’ quarterly earnings and his thoughts on the broader, struggling airline industry. …read more […]

Today, Investment U’s Income Expert, Marc Lichtenfeld, takes a look at Simon Property Group’s dividend safety.
When mall owner Simon Property Group (NYSE: SPG) reports third quarter results in a few weeks, it will be perhaps the most important earnings report in its history. Brick-and-mortar retail has gotten crushed in 2020.
While malls were already facing stiff competition from online competitors, the pandemic temporarily shut retailers’ doors during the spring and many are still experiencing drastically reduced traffic.
So shareholders will be watching Simon’s earnings report closely to see whether its generous 7.7% dividend yield is sustainable.
Now, keep in mind, the company already …read more […]

KELOWNA, BC, Oct. 14, 2020 /CNW/ – The Valens Company Inc. …read more […]

United Airlines reported third-quarter results on Wednesday that missed the Street’s estimates. The airline’s passenger revenue was down 84% year-over-year. Meanwhile, daily cash burn fell to $25 million on an average in Q3, from $40 million in Q2. Emily McCormick breaks down the company’s financial results on The Final Round. …read more […]

Many commodities have supply-and-demand surpluses and shortages.
Nickel is no exception.
It’s the fifth-most-common element on Earth. It occurs naturally in the form of oxides, sulfides and silicate minerals.
Nickel has many key roles in the industrial world. It has high strength, is corrosion resistant, is highly pliable, and has good thermal and electrical conductivity.
Stainless steel production accounts for two-thirds of all nickel use, but the metal has many other applications.

Today, battery manufacturing accounts for only 2% of all nickel produced. But that is about to change.
Electric vehicle manufacturers are beginning to replace the cobalt in their batteries with nickel.
Cobalt is rare and …read more […]

“We’re ready to turn the page on seven months that have been dedicated to developing and implementing extraordinary and often painful measures, like furloughing 13,000 team members, to survive the worst financial crisis in aviation history,” said United CEO Scott Kirby. Chicago-based United said its daily cash burn slowed to an average $25 million in the quarter ended September from $40 million in the second quarter, and included $4 million per day in severance and debt payments. United furloughed thousands of employees this month as a second round of payroll relief from Washington has so far failed to materialize, but …read more […]