Day: August 4, 2020

S&P 500 News: AMD Stock Surges, Disney Loses Billions, Another CEO Change for Ford – Motley Fool
Stock News

S&P 500 News: AMD Stock Surges, Disney Loses Billions, Another CEO Change for Ford – Motley Fool

The S&P 500 Index (SNPINDEX:^SPX) had one of its calmest days in weeks on Aug. 4, closing up 12 points, or 0.36%, in the middle of one of the busiest earnings weeks for the quarter. On the whole, it was a good day for investors, with about 300 of the 505 stocks in the index moving higher today.  Today's biggest S&P 500 movers were fertilizer giant Mosaic (NYSE:MOS), up 13.6% following blowout earnings, and semiconductor giant Advanced Micro Devices (NASDAQ:AMD), with shares gaining 9.5% following an analyst upgrade. Other big news for major index components include the announcement from Ford (NYSE:F) that CEO Jim Hackett will retire at the end of September, with CFO Jim Farley tapped to take the head job at the Blue Oval. Walt Disney&n...
Kodak Loan Disclosure and Stock Surge Under SEC Investigation – The Wall Street Journal
Stock News

Kodak Loan Disclosure and Stock Surge Under SEC Investigation – The Wall Street Journal

The Securities and Exchange Commission is investigating the circumstances around Eastman Kodak Co.’s announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter. News of the loan last week caused Kodak’s shares to rise as high as $60, before falling to about $15 on Monday due to a dilution in the shares. Amid the heightened volatility, trading volume has surged. The price spike briefly produced a potential windfall for company executives who owned stock-option... Credit: Source
Oil PSUs spend 13% of annual capex target in Q1FY21
Stock News

Oil PSUs spend 13% of annual capex target in Q1FY21

New Delhi: State-run oil companies have spent 13% of their annual capex target of Rs 98,500 crore in the first quarter of the financial year with Oil India spending at the fastest clip and GAIL the slowest.The government is banking on accelerated spending by public sector companies to revitalize the economy damaged by the pandemic and lockdowns. Finance minister Nirmala Sitharaman has been regularly engaging with chiefs of state-run companies to prod them to speed up spending. Resource-rich oil and gas companies, usually the biggest spenders among state firms, have spent Rs 12,900 crore in April-June. This is only 13% of the annual target mainly because of the lockdown and inability to get workers back on to sites after restrictions were eased, an industry executive said. More lockdowns i...
Zomedica (ZOM) to Report Q2 Earnings: What’s in the Cards?
Stock News

Zomedica (ZOM) to Report Q2 Earnings: What’s in the Cards?

Zomedica Pharmaceuticals Corp. ZOM will provide updates on its pipeline when it reports second-quarter 2020 results. The company has a dismal earnings surprise history with its bottom line having missed expectations in two of the trailing four quarters, beating the same in one and witnessing break-even results on the remaining occasion. The average negative surprise is 8.33%. In the first quarter, the company reported in-line results. Shares of Zomedica have decreased 4.3% in the year so far compared with the industry’s decline of 52.7%. Let's see how things are shaping up for this announcement. Factors to Consider Zomedica, a veterinary diagnostic company,does not have any approved drug in its portfolio. In absence of any marketed drug, investors’focus will be on pipeline updates on...
Russia’s Biggest Bank Considers Launching its Own Stablecoin
Crypto News

Russia’s Biggest Bank Considers Launching its Own Stablecoin

Sberbank, a state-owned company and the largest bank in Russia, is considering the possibility of issuing its own token, according to its key executives. Sergey Popov, Director of the transaction business at Sberbank, says that Russia’s banking giant is thinking of issuing its own stablecoin that could be pegged 1:1 to the Russian ruble, local news agency Kommersant reports on Aug. 4. Sberbank’s stablecoin would be compliant with recently passed crypto law According to the report, the potential stablecoin could be used for settlements involving other digital financial assets. Popov reportedly noted that Sberbank would be able to issue the token in accordance with the recently passed crypto law called “On Digital Financial Assets,” or DFA.  The exec said: “We probably may issue...
Former PBoC official: digital currency can substitute all currencies
Currencies

Former PBoC official: digital currency can substitute all currencies

In Brief: A former PBoC official believes that digital currency can ultimately be a substitute for all currencies. There are different measurements of currency supply, from M0, M1, to M2. Although a CBDC has its advantages, central bankers are cautious about committing as they want to see who goes first. Wang Yongli, former vice president of Bank of China and a director of the Haixia Blockchain Research Institute, believes that digital currency will eventually replace all cash in circulation and won’t just be confined to M0.  M0 refers to a measurement of the notes and coins in circulation. It’s sometimes referred to as “broad money”. The criteria continues on to M1, cash held in checking accounts, and then M2 where it largely refers to the funds and credit in com...
GBP/USD Forex Market Eases Off Amid Continuing Virus and Trade Concerns – Securities.io
Forex News

GBP/USD Forex Market Eases Off Amid Continuing Virus and Trade Concerns – Securities.io

Trading in the forex market has been steadily evolving over decades since it first began. This has particularly been evident in recent years with the continuing emergence of new trading strategies and methods. These have generally advanced trading to become both more convenient, and more efficient. One such method which has experienced a sharp growth in popularity of late, is algorithmic trading. Here we will examine what exactly algorithmic trading in forex is, the methods available, and how it could be an effective tool in your trading arsenal moving forward. The Algorithmic Trading Basics Algorithmic trading at its core, is trading based on a computer program. This computer program follows a preset collection of instructions, an algorithm, to perform a number of functions for you a...
How is the COVID outbreak affecting online forex trading? – The Armchair Trader
Forex News

How is the COVID outbreak affecting online forex trading? – The Armchair Trader

The coronavirus pandemic threw the world into a tailspin. More than six months after COVID-19 came into our lives, the international community is still dealing with substantial uncertainty. Hundreds of millions have lost their incomes, and the future remains undecided for people and businesses around the world. In this context, the current boom in FX trading seems even more remarkable. As those familiar with forex trading already know, the past few months have seen massive growth across a variety of trading platforms and commodities. For example, forex broker IronFX has reported a month-to-month growth of 25-50% in forex accounts. These percentages represent 220,000 new client accounts over the period of March through June. According to the IronFX report, trading volumes also rose shar...
Sebi bans 4 entities for providing unauthorised investment advisory services
Stock News

Sebi bans 4 entities for providing unauthorised investment advisory services

New Delhi: Sebi has barred Money Increase, Venture Revenue and two individuals from the capital markets for providing unauthorised investment tips and falsely promising assured returns to investors. Besides, they have been prohibited from carrying out investment advisory services.Those facing ban are -- Money Increase, Venture Revenue, their proprietor Ashish Chourasiya and Shinal Jain, who is connected to Chourasiya. Sebi found that Chourasiya through its proprietorship of Money Increase and Venture Revenue was providing trading tips and stock specific recommendations to investors and the general public on payment of services. Besides, Jain has, prima facie, aided and abetted Chourasiya in collection of payments or fee for the services, it noted. It, further, said they are providing ...
Why I Trimmed My Position In Main Street Capital
Stock News

Why I Trimmed My Position In Main Street Capital

As mentioned in previous articles, I'm expecting many Business Development Companies ("BDCs") to report net asset value "NAV" increases, adequate dividend coverage, and reaffirming current dividends. However, I'm also expecting some BDCs to cut dividends in August 2020. This article discusses Main Street Capital (MAIN) which recently released preliminary Q2 2020 results. Please see the end of this article for details. Clearly, the potential for additional or renewed lockdowns related to COVID-19 is a concern driving markets lower, including BDCs that peaked on June 8 (including MAIN at $35.82) are now yielding over 13% (see list below). Source: Yahoo Finance It's important to note that yields below take into account special/supplemental dividends for 2020. For Q1 2020, MAIN re...