Day: July 16, 2020

The FBI is investigating the Twitter Bitcoin hack – Engadget
Stock News

The FBI is investigating the Twitter Bitcoin hack – Engadget

Reuters had previously reported the FBI would launch an investigation into the hack. Twitter didn’t respond to a request for comment on the investigation. The FBI inquiry is now one of multiple investigations into the incident, which has drawn scrutiny from a number of officials. New York Governor Andrew Cuomo also announced an investigation into the attack. Cuomo said the hack was “deeply troubling and raises concerns about the cybersecurity of our communications systems.” Several members of Congress have also signaled their concern. Missouri Senator Josh Hawley sent a pointed letter to Twitter CEO Jack Dorsey in the hours immediately after the attack, and a number of House Republicans have said Dorsey should brief Congress on the company’s security practices and the events leading up ...
WEEKAHEAD-AFRICA-FX-Kenyan, Nigeria currencies seen weaker, Uganda’s firmer – Reuters Africa
Currencies

WEEKAHEAD-AFRICA-FX-Kenyan, Nigeria currencies seen weaker, Uganda’s firmer – Reuters Africa

NAIROBI, July 16 (Reuters) - Kenyan and Nigerian currencies are likely to come under pressure against the U.S. dollar next week as Uganda’s shilling strengthens and Tanzania’s and Zambia’s currencies trade sideways. KENYA The Kenyan shilling is forecast to weaken due to increased dollar demand from merchandise importers and the energy sector as business activity resumes following the lifting of COVID-19 related movement restrictions, traders said. Commercial banks quoted the shilling at 107.25/45 per dollar, compared with 106.75/95 at last Thursday’s close. “We might see more buying pressure from merchandisers, oil importers. Free movement means a rise in demand for fuel ...the inflows are not enough to compensate,” one commercial bank trader said. NIGERIA Nigeria’s naira is seen weaker ...
Aurora Cannabis: Promising Consolidation
Stock News

Aurora Cannabis: Promising Consolidation

Over the last week, Aurora Cannabis (ACB) and Aphria (APHA) apparently discussed a merger with talks falling apart. A merger would've made the new entity into a global giant in the cannabis space after the Canadians have lost a ton of market leadership to U.S. firms in the last year. The synergies alone could make this a no brainer deal as Aurora Cannabis already had made an impressive transformation on costs making the long-term investment thesis on the stock more bullish. Image Source: Aphria website Deal Rumors According to BNN Bloomberg, a deal between Aurora Cannabis and Aphria would value the companies at similar levels. With similar market caps, the deal would suggest a merger of equals vs. any premium for one of the stocks. The proposed deal has some reported key terms: Aphri...
What We Can Learn from the Sideways Market – Part 2
Top Trading

What We Can Learn from the Sideways Market – Part 2

In Part 1 – We learned what is a sideways markets and the characteristics of the sideways markets. In this section, we are going to learn what are the major qualities required to trade the sideways markets. What is more required during a sideways market is frequent evaluation of your strategy, keeping your emotional balance in check, and not getting into too many trades. Five Major Qualities are required to trade the sideways markets. 1)Developing a strong balance trading rules which help traders to identify price based breakout failures (Look above the balance & Fail, Look below the balance and fail, Look above and accelerate, Look below and accelerate, etc) 2)Bringing the ability to distinguish the false breakouts with the stronger ones. Volume Price Analysis or Orderflow comes h...
Key Words: Longtime Elon Musk critic has a strong message for investors looking to bet against Tesla
Stock News

Key Words: Longtime Elon Musk critic has a strong message for investors looking to bet against Tesla

“ ‘It’s one thing to bet on Elon Musk, but it’s another thing to bet against him. The guy specializes in pulling rabbits out of the hat.’ ” That’s Carson Block, the short-seller behind Muddy Waters Capital, talking with Bloomberg’s Tracy Alloway and Joe Weisenthal in a podcast this week about the iffy prospects of taking a short position on Tesla TSLA, -2.56% in the face of the stock’s torrid rally. “I’m not short the stock, thank God,” he said. “We used to joke that Tesla, when it files for bankruptcy, will probably have a $30 billion market cap. Short it at your own risk. I wouldn’t do that.” Yes, that’s a good thing, considering how Tesla has performed lately. But that hasn’t stop other investors from piling on with their short bets, with the value of those wagers surging t...
L&T Tech Services to acquire Orchestra Tech for Rs 187 crore
Stock News

L&T Tech Services to acquire Orchestra Tech for Rs 187 crore

New Delhi: IT company L&T Technology Services on Thursday said it will acquire 100 per cent stake in Texas-based Orchestra Technology, which provides engineering services and solutions for telecom network management. L&T Technology Services (LTTS) will acquire the stake in all cash deal of USD 25 million, or about Rs 187 crore, in two tranches of USD 11 million (Rs 82.6 crore) and USD 14 million (Rs 105 crore), it said in a regulatory filing. "This acquisition will enable LTTS to strengthen its footprint in the telecom OEM (original equipment manufacturer) and service provider space. Orchestra will help bolster LTTS investments as part of open network forums ONF and TIP across key elements of 5G like ORAN, private networks, narrow band IOT," LTTS said in the filing. Orchestra h...
The Margin: ‘Bullsh—’: CNN’s Chris Cuomo gets fired up over President Trump’s Goya advertisement from the White House
Stock News

The Margin: ‘Bullsh—’: CNN’s Chris Cuomo gets fired up over President Trump’s Goya advertisement from the White House

“Chris Cuomo is all of us,” the Lincoln Project tweeted. That group of “Never Trump” Republicans joined a growing chorus of those on social media heaping praise on the CNN host for his passionate take on this post from the president: Yes, that’s the president flashing a big grin and giving a thumbs-up in what is effectively an ad for Goya Foods, which is facing calls for a boycott after its CEO praised Trump at a White House event. While the promotion probably played with Trump’s base, Cuomo pretty much captured the reaction of everybody else when he got a little heated on his show Wednesday night. “You tell me how a president, in the middle of a pandemic, has got time for this bullsh—,” he said, without getting bleeped out. “Are you kidding me? Hawking products?” Goya Foods Inc. is...
Thursday’s ETF with Unusual Volume: LDSF
ETFs

Thursday’s ETF with Unusual Volume: LDSF

The First Trust Low Duration Strategic Focus ETF is seeing unusually high volume in afternoon trading Thursday, with over 55,000 shares traded versus three month average volume of about 49,000. Shares of LDSF were off about 0.2% on the day. Components of that ETF with the highest volume on Thursday were First Trust Low Duration Opportunities Etf, trading trading flat with over 207,000 shares changing hands so far this session, and First Trust Senior Loan Fund Etf, off about 0.2% on volume of over 175,000 shares. First Trust Tcw Opportunistic Fixed Income Etf is the component faring the best Thursday, up by about 0.1% on the day, while Proshares Ultra Semiconductors is lagging other components of the First Trust Low Duration Strategic Focus ETF, trading lower by about 2.5%. VIDEO: T...
Thursday’s ETF Movers: KIE, LIT
ETFs

Thursday’s ETF Movers: KIE, LIT

In trading on Thursday, the SPDR— S&P— Insurance ETF is outperforming other ETFs, up about 1.8% on the day. Components of that ETF showing particular strength include shares of Hartford Financial Services Group, up about 5.6% and shares of Reinsurance Group of America, up about 4% on the day. And underperforming other ETFs today is the Lithium ETF, off about 4.3% in Thursday afternoon trading. Among components of that ETF with the weakest showing on Thursday were shares of Tesla, lower by about 3.5%, and shares of Lithium Americas, lower by about 2.2% on the day. VIDEO: Thursday's ETF Movers: KIE, LIT The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Soure: Nasdaq