Alphabet Inc’s Google said Tuesday that it plans to work with China’s Huawei over the next 90 days, shortly after the U.S. temporarily eased some trade restrictions on the world’s second-largest smartphone maker. The move marks a sudden and dramatic turnabout for the U.S. tech conglomerate. On Sunday, Google said it would cut ties with … Read more
Morgan Stanley cut its bear (worst-case) forecast on Tesla’s stock from $97 to just $10 on Tuesday, citing concerns about the company’s increased debt load and geopolitical exposure. In particular, Morgan Stanley analysts said the reduction was driven by concerns around Chinese demand for Tesla products. “Our revised bear case assumes Tesla misses our current … Read more
These days, it’s all about Asia… It’s hard to come across a company that isn’t connected to Asia one way or another… or one that doesn’t generate at least part of its revenue from this part of the world. Most of the world’s largest companies now consider Asia to be one of their largest (if … Read more
Shares of Huawei’s key U.S.-listed suppliers stumbled on Thursday following a new rule that requires American firms to seek government approval before selling to the Chinese tech giant. Earlier this week, Huawei was added to the U.S. Bureau of Industry and Security’s so-called Entity List. That means American firms will need to get a license … Read more
Walmart on Thursday reported earnings that topped analysts’ expectations but sales came up short, as international revenues declined with currency headwinds dragging on its business overseas. E-commerce sales grew 37%, boosted by its home and fashion businesses, Walmart said. That was better than online sales growth of 33% a year ago, but moderated from a … Read more
It was one of the most important investment lessons I ever learned… About a decade ago, I became the manager of a US$125 million hedge fund. The fund had been around for three years. The portfolio manager I was taking over from had put together a diverse portfolio of stocks, bonds, currencies and options across … Read more
CNBC’s Jim Cramer said Tuesday that the stock market saw a “genuine rally, and that is a bullish sign.” After two days of selling across the board that left equities oversold, the major averages rebounded with the Dow Jones Industrial Average moving up 207 points, the S&P 500 gaining 0.80% and the Nasdaq Composite advancing … Read more
Morgan Stanley upgraded shares of Coca-Cola on Tuesday, saying the stock is trading at a very attractive valuation based on its history and relative to likely better-than-expected earnings in coming years. The firm upgraded Coca-Cola to overweight from equal weight and raised the 12-month price target to $55 from $52. Coca-Cola closed Monday at $48.05, … Read more
Investors pulled more than $20.5 billion from global equities in the past week, showing the impact of trade tensions between the U.S. and China on confidence in financial markets. A regular note on fund flows from analysts at Bank of America Merrill Lynch (BAML) revealed that cash leaving equity funds in the week ending May … Read more
By Jody Chudley, Financial Analyst Warren Buffett’s investing insights are some of the most valuable in the industry. In fact, just this past weekend 40,000 plus people flocked to Omaha, Nebraska for the sole purpose of hearing these insights firsthand. We shared a few in Monday’s alert. In lieu of this, I thought I would … Read more