The 1,200-mile (1,900-kilometer) pipeline could potentially carry 830,000 barrels of crude a day from Alberta’s oil sands to U.S. Gulf Coast refiners.
In a court filing on Monday, the pipeline company said that pre-construction activities, like setting up pipe yards and work camps, will resume by February, following which full work can start by June and get completed in late 2020 (as reported by Bloomberg).According to TransCanada’s letter filed in U.S. District Court in Montana, a yearlong delay would cost the company $949 million in lost profits and push back the hiring of about 6,600 workers.
Markets from equities to high-yield bonds that have been flashing warning signs are probably an overreaction to slowing growth rather than a precursor of imminent recession, according to J.P. Morgan Chase CEO Jamie Dimon.READ MORE...
Union Pacific Corp.’s stock price jumped +8% in early trading on Tuesday, following the announcement of Jim Vena as the new chief operating officer (COO) at the railroad company.
Railroad industry veteran Vena, 60, worked with the late Hunter Harrison to implement Harrison’s designed “precision scheduling railroading” (PSR) strategy for improving several railroads.
Union Pacific connects 23 states in western United States.Nevertheless, the company adopted the PSR plan on Oct. 1 to improve the situation and to boost profitability by 2020.
The appointment of Vena made several analysts more hopeful of Union Pacific’s ability to successfully implement the PSR strategy.
Oracle Corp. founder Larry Ellison owns 1.75% stake – worth $1 billion - in Tesla, making him the second-largest individual investor in the electric car manufacturing company.His holding was confirmed in a filing Tuesday with the U.S. Securities and Exchange Commission (SEC). Tesla co-founder & CEO Elon Musk owns about a fifth of the company, according to data compiled by Bloomberg.
According to the filing, Ellison indirectly owns 3 million Tesla shares through the Lawrence J. Ellison Revocable Trust.
Supermarket chain Kroger and tech giant Microsoft announced a partnership - one that looks like a move towards grabbing space in next gen grocery.
Two Kroger pilot stores - in Monroe, Ohio and Redmond, Washington State - will feature digital shelving displays with product information and real-time price updates.Location-specific data will be stored and processed on Microsoft's Azure cloud infrastructure.
The digital features are aimed to help shoppers find stuff more quickly and smoothly, and to aid workers at managing stores more efficiently.
Discount retailer Dollar General (NYSE: DG) has held up better than most stocks in recent weeks, which is supported by a relative strength rating of 92 from Investor’s Business Daily.A score of 92 means the stock has performed better than 92% of stocks.
Unfortunately for DG, it looks like a bearish pattern has formed on the stock.
Internet dating website operator Match Group (Nasdaq: MTCH) has really strong fundamental indicators, and those strong fundamentals helped push the stock higher in recent years.Match Group has a return on equity of 39% and a profit margin of 24.6%.
Despite those fundamental strengths, the stock has dropped significantly as the overall market has declined.
Medical device company Tandem Diabetes Care (Nasdaq: TNDM) had an incredible run for the first eight and a half months of 2018.The stochastic readings also just made a bearish crossover on Wednesday.
Something that could be holding the stock back at this point is its fundamental indicators.
Clothing retailer Gap, Inc. (NYSE: GPS) has been trending lower since peaking in January.Most downward sloped trend channels I point out are more clearly defined by the highs.
The daily stochastics just hit overbought territory this week and have since made a bearish crossover.
According to the Mastercard SpendingPulse report, retail sales were up 5.1% from December 1 through 24 compared to the same period one year ago.
There were interesting pockets where sales increased and decreased.Another area that saw a big increase was apparel with a gain of 7.9%.
Enter Ross Stores (Nasdaq: ROST) -- a company I have been watching for quite some time.
Medical equipment manufacturer Perkinelmer (NYSE: PKI) has pulled back in the past few months, following the rest of the market.However, there could be good news for investors of Perkinelmer as the stock hit two key support levels in the last week.
We see on the daily chart that the stock dropped down to its 104-week moving average at its low last week, but then bounced sharply from there.
Sony Pictures Entertainment and AT&T have put casino game maker, GSN Games, on the bidding block a few months ago and awaiting the first round of results.On the other hand, AT&T sees this as an opportunity to sell off no-core assets to reduce its mountain of debt (close to $170 billion).
Producing a range of branded gaming titles, the partners are optimistic that the bid will yield results in the $600-$700 million range.
Currently, Sony owns 58% of the company while the remaining 42% is held by AT&T. The sale process underway could lead to Sony buying out AT&T’s stake, or it may also attract new investors to the unit.
Shares of Pacific Gas and Electric (PG&E), a US investor-owned utility company, slumped ~25% in Monday’s opening hour trade.This happened after CNBC reported that PG&E might face a minimum of $30 billion in liabilities excluding penalties, fines or punitive damages related to California wildfires in 2017 and 2018.
Further, with the utility company contemplating filing for bankruptcy protection as it anticipates a massive Q4 charge, investors started to abandon the stock that could worsen the company’s prospects.
PG&E is poised for its biggest fall since November 2014, when the stock was on the verge being downgraded to junk after it had announced the exhaustion of its revolving credit line.
Although the bankruptcy news hasn’t been confirmed by the company, according to sources familiar to the matter, the company is seriously contemplating the sale of its gas assets to cover liability costs related to the wildfires.
Further, with PG&E being a one of the biggest utili
Amazon is now the largest company by market value, overtaking Microsoft's hold on the title.READ MORE...
Technology giant Facebook is in for another tough year as marketers ramp up their scrutiny of the platform, according to Pivotal Research analyst Brian Wieser who has reaffirmed his "sell" rating on the company's stock.READ MORE...
PG&E Corp is reportedly mulling whether to file for bankruptcy as soon as February, according to a Bloomberg report citing people familiar with the situation.The bankruptcy protection is apparently being sought to deal with its potential wildfire liabilities.
In a statement late Friday, PG&E said it’s “working diligently to assess the company’s potential liabilities as a result of the wildfires and the options for addressing those liabilities.
Roku Inc. gains on people’s peaking streaming habit.
The digital media player maker reported its preliminary fourth-quarter data, revealing a +40% year-over-year surge in active accounts to top 27 million in the quarter.The number of streaming hours spent by viewers using Roku’s devices/services increased +68% year-over-year to 7.3 billion hours.
"Strong active account growth and accelerating streaming hours point to consumers' growing enthusiasm for streaming, making Roku America's largest and fastest growing TV streaming distribution platform," said Roku CEO Anthony Wood.
Roku shares jumped +20.6% on Monday.
Tesla has now officially broken ground at the Gigafactory 3 and CEO Elon Musk made a few interesting comments, including confirmation that Tesla will produce the upcoming new Model Y at the factory.READ MORE...
Micron shares have finally bottomed after a year of steep losses and should perform better than the broader stock market in 2019, according to BMO Capital Markets.READ MORE...
Jeffrey Smith, CEO of activist hedge fund Starboard Value, wants Dollar Tree Inc. to lift its $1 price ceiling on products.
Smith wrote to Dollar Tree CEO Gary Philbin Monday to reveal that his fund had invested in 1.7% stake in the discount retail company, while indicating that there should be more room to raise product prices at Dollar Tree stores.Smith feels that by rigidly restricting prices within $1, Dollar Tree could potentially be sacrificing product quality or size.
"Dollar Tree has a great customer base, and we believe its loyalty stems from the fantastic value customers find at Dollar Tree, not merely because everything in the store is the same price," Smith added in the note.
Starboard also wants Dollar Tree to consider selling Family Dollar, a chain of stores that it bought in 2015.