Thursday, August 6

Stock News

Be Careful With The American Dollar
Stock News

Be Careful With The American Dollar

I don't often write macro-oriented articles - the fact is, others do it with significantly more background knowledge. However, one area where I believe I excel is the articles aimed at either investors seeking investments in different countries, as well as different currencies, seeing as I'm one such investor, have been one for years, and have done an untold number of hours of research and weighing on the subject. With that in mind, I wanted to take today and talk a bit about how we (both international and domestic investors) could consider the role and future of the American dollar. (Source: Shutterstock) The dollar in a non-US portfolio The reason this subject hits close to home is the dive the USD has taken in terms of value when paired to my own "home" currency, the Swedish krona...
Disney shakes up streaming approach after losing nearly $5 billion due to pandemic
Stock News

Disney shakes up streaming approach after losing nearly $5 billion due to pandemic

Streaming was about the only thing working for Walt Disney Co. amid a pandemic that has all but paralyzed its theme parks, live productions and cruise line, so Disney is going to rely on that direct-to-consumers pipeline even more. Disney DIS, +0.80% reported a depressing financial performance Tuesday that included a quarterly loss of nearly $5 billion due to COVID-19 and long-term depreciation of its European linear television channels. The only segment in the media empire to grow amid the pandemic included Disney+, the company’s streaming service that launched late last year and has already grown to more than 60 million subscribers. After detailing those numbers, new Disney Chief Executive Bob Chapek outlined a plan Tuesday that will leverage Disney+ and attempt to replicate its succ...
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...
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...
BP slashes dividend in half after $16.8 billion loss
Stock News

BP slashes dividend in half after $16.8 billion loss

BP logos are seen at a BP petrol and diesel filling station southeast of London on June 15, 2020, following the announcement that the oil giant will take a hit of up to $17.5 billion (11.4 billion euros and 15.3 billion euros), due to the ongoing COVID-19 global pandemic. ben stansall/Agence France-Presse/Getty Images Oil giant BP on Tuesday cut its dividend in half after reporting a $16.8 billion loss for the second quarter. BP BP, +3.61% BP, +0.22% said it lost $16.8 billion after taking a charge of $10.9 billion, mostly for writing down the value of various projects after the steep fall in oil prices. Analysts polled by FactSet expected an $11.6 billion loss. BP had earned $1.8 billion in the year-earlier quarter. Its underlying replacement cost loss was $6.7 billion, compare...
Noteworthy Monday Option Activity: SEDG, JOE, SERV
Stock News

Noteworthy Monday Option Activity: SEDG, JOE, SERV

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in SolarEdge Technologies Inc (Symbol: SEDG), where a total volume of 5,546 contracts has been traded thus far today, a contract volume which is representative of approximately 554,600 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 56.6% of SEDG's average daily trading volume over the past month, of 980,410 shares. Especially high volume was seen for the $145 strike put option expiring August 21, 2020, with 1,790 contracts trading so far today, representing approximately 179,000 underlying shares of SEDG. Below is a chart showing SEDG's trailing twelve month trading history, with the $145 strike highlighted in orange:...