Nvidia Corp. (NVDA), Marvell Technology Group Ltd. (MRVL), and Taiwan Semiconductor Manufacturing Company Ltd. (TSM), despite all being down in double digits from earlier highs, are considered diamonds-in-the-rough, according to a few veteran market watchers.They see the semiconductor sector as a treacherous place to be right now, according to CNBC.
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Apple shares slide below $200 for the first time in three months.
The tech giant's market capitalization dropped below $1 trillion on Friday.
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Liquefied natural gas shipper Golar LNG Limited reported improved revenue, EBITDA and net income for the quarter on the back of a resurgent shipping market.
The company reported that its fleet utilization in Q3 increased to 86% from 62% in Q1, resulting in its daily time charter equivalent earnings rising from $19,600 in Q1 to $41,200 in Q3.
Total operating revenues for the quarter net of expenses increased from $42.9 million in Q2 to $98.4 million in Q3.In addition to the approximately $51 million of tolling fee revenue, it also earned $11.3 million of Brent-linked revenue.
Following some repair work, Enbridge has been able to provide partial service to customers of its BC Pipeline.However, it has asked its retail customers to conserve throughout the winter as the lines are expected to operate at only ~55% of its operating pressure, even though a majority of the repairs are reportedly complete.
BC Pipeline comprises of two parallel lines, one 36-in.
The century-old but struggling multinational business conglomerate, General Electric, is all set to sell-off its gasification business to the industrial gases and chemicals seller Air Products and Chemicals Inc (APD, $157.37) for an undisclosed amount.
For GE, it comes as a part of its divestiture strategy to secure the company’s long-term future.
But for APD, this acquisition is highly beneficial as it allows the company to widen its synthesis gas (syngas) solutions product offerings.Furthermore, with the proven technological strength of GE, it enhances APD’s capabilities along with complementing its recent gasification technology acquisition.
Larry Hatheway, the chief economist at $150 billion GAM Investments, says the US stock market has reached a stage where it's beyond its peak.
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The Boeing 777 and the 787 Dreamliner are two of hottest selling wide-body airliners in the world.The dynamic duo has effectively supplanted the iconic 747 jumbo jet as the Boeing's go-to plane for long-haul flying.
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Pattern Energy Group (PEGI) saw its shares rise by +7% the day after it posted much improved Q3 results.
The renewable power company hit a rough patch over the last couple of years, owing largely to a string of acquisitions.To stabilize its financial situation, the company had to stop its pay-out increase in 2018, after increasing its dividend for 15 straight quarters.
However, a much-improved performance in the Q3, coupled with a few strategic moves during the quarter, have brought the company back on track to achieve its growth target.
PEGI increased its power sales by 7% to 1,623 GW, compared to 1,514 GW in Q3 2017.
Share prices of Gulfport Energy Corporation (GPOR) soared by more than +10% in Monday’s trading session.
This sudden surge may have owed to GPOR’s strong third-quarter results, but the major catalyst was arguably the big uptick in natural gas prices due to colder weather forecasts.
As weather forecasters predicted a blast of cold air could hit the U.S. this week, natural gas prices surged by ~8% in Monday’s early-morning trading -- in expectation of much higher heating demand than previously expected.As a result, natural gas prices traded higher by 7.5% to $3.53 MMBtu on Monday and are now up +18% year-to-date.
Cooler temperatures across the Great Plains and Midwest are expected to bring more rain and snow in the region, which in turn is likely to fuel increased demand for natural gas to heat homes.
Chesapeake Energy Corporation (CHK) shares plunged by -23.4% in October, as per data provided by S&P Global Market Intelligence.
The sell-off was largely fueled by the surprising decision and the subsequent announcement by CHK to buy Wildhorse Resource Development (WRD, $22.80) for nearly $4 billion, for a combination of cash and stock.
As per the company, the deal is expected to help bolster its presence in the oil-rich Eagle Ford Shale along with the opportunity to double its production capacity by 2020.It is also expected to help accelerate the execution of CHK's deleveraging plan.
As long as owners know their private key – the permanent password generated upon creation of a new cryptocurrency wallet – their holdings are safe, accessible only to them.But what happens to the crypto left behind when you die if no one knows how to access it?
Passing cryptocurrency on to loved ones is unlike bestowing cash, jewelry, or other physical possessions, as detailed in an essay in Quartz’s Private Key crypto newsletter.
Taxes will be lower for most people this year because of the GOP’s tax bill passed last December.But taxpayers have yet to reap the gains.
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FedEx will be hiking rates by an average 4.9% as of January 7, 2019.
The courier delivery company had implemented a similar increase at the start of 2018.That means, there is a burgeoning volume that courier services have to meet and manage - something that could potentially increase total costs for courier firms, and therefore induce them to hike rates as a way to cushion their profitability.
Also, potential competition from e-commerce firm Amazon which is starting its own delivery business, could add further pressure on FedEx’s (or other delivery service firms') margins. Its competitor United Parcel Service might also increase rates by an average 5.9%, subject to government approval.
(according to Nikkei Asian Review citing anonymous sources).
Apple is reportedly asking suppliers for more of the older models, iPhone 8 and iPhone 8 Plus, which are up to 20% cheaper compared to the XRs whose starting price is $749.From previously expected 20 million units of the older models this quarter, Apple has raised the figure to 25 million units, according to a source (as reported by Nikkei Asian Review).
This holiday season, Amazon gifts shoppers free shipping on all orders .
The Christmas offer, starting Monday, waives the minimum purchase limit of $25 that otherwise applies to non-Prime users.The e-commerce giant’s Prime members get free delivery at other times as well, on eligible orders without a minimum purchase requirement.
Amazon’s holiday incentive to shoppers comes at a time when its competitors like Target are also strategizing to milk the season’s consumer demand potential.
In yet another sign of retail struggle, Lowe's Companies, Inc. is shuttering 20 underperforming stores in the U.S and 31 in Canada.
The home improvement chain will be completing the latest store closures before February 1, 2019, while trying to shift workers to other locations to help them still remain employed within the company if they choose to.Previously this year, Lowe’s announced plans to close down all of its 99 Orchard Supply Hardware stores by end of the fiscal year, while also promising to give affected employees priority should they apply for other openings at the company and also to provide them job placement assistance and severance.
Advanced Micro Devices (AMD) has been one of the most volatile stocks of 2018 with a beta at 4.06.Beta is a measure of volatility where the market has a beta of one, and beta greater than one indicates high volatility.
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For comparative purposes, the Invesco QQQ Trust (Nasdaq: QQQ) fell 8.6% in October and was down 12.14% before the bounce.
One chip stock that got hit extremely hard during the month was Advanced Micro Devices (Nasdaq: AMD).The stock is bouncing back this week.
Looking at the weekly chart we can see that the stock peaked at $15.55 in February 2017 and at $15.65 in July 2017.
US headquartered high-efficiency PV module producer, SunPower Corp, issued a "going concern" notice after its dismal Q3 results.This gave rise to speculations over whether the company is slowly advancing towards filing for bankruptcy.
Over the last few quarters, the company has been reporting a continuous decline in its gross margins along with increasing net losses.
Last Thursday’s trading session saw shares of General Electric (GE) shares drop below the $9.80 mark, which was their lowest level since April 2009, on the back of concerns surrounding increased tax liability for the company.
GE’s shares dropped by another 4% on Thursday as market analysts voiced their expectation that the near near-term tax liabilities of the company are set to rise significantly.
As per the Tax Cuts and Jobs Act, the company owes as much as $9 billion in taxes whereas the company took into consideration only $3.3 billion in charges while citing various offsetting for the rest.Now ,if some of the ‘offsets’ are disallowed, the company could wind up owing a large tax bill near term.
Considering the present situation of the company, with cash flows weakening and fundamentals of the power segment declining and a rising funding cost of GE Capital as the company was forced out of the commercial paper market – this additional tax burden is taking a heavy toll on th