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September has meant volatility with a downward bias in many tech shares like Microsoft (NASDAQ:MSFT). MSFT stock, which ended August at $225.53, is now hovering at $207. That is a decline of about 6%. Yet, despite the recent decline, the shares are up over 31% year-to-date.
Source: The Art of Pics / Shutterstock.com As recent research led by Amit Kramer of University of Illinois highlights, “one of the most observable changes which occurred as a result of the Covid-19 pandemic has been the shift of many employees to work from home arrangements across occupations.” It follows that technology companies that have played a role in helping organizations and employees in the shift to working-from-home have seen their share prices soar.
Strong performance of MSFT stock has been based on robust fundamentals, which I expect to continue in the quarters to come. Therefore, potential shareholders may regard drops in the stock price as opportunity...
Tesla Inc (NASDAQ: TSLA) sales in China, the world's largest electric vehicle market, may fizzle out by 2030, Morgan Stanley (NYSE: MS) analyst Adam Jonas said in an interview with Yahoo Finance.What Happened: The Elon Musk-led company may see its sales drop to zero by the end of next decade, Jonas told Yahoo Finance."We have China sales peaking [in the] middle of the decade and then going down...and then eventually nothing after 2030," the analyst said."Tesla and other OEMs will have to find a solution outside of China because they won't be able to compete in the way they are today."The analyst theorized that the fall in sales in China would be due to future autonomous vehicle systems and the fragile relationship between the United States and China.He said just as it was inconceivable that a Chinese internet of cars autonomous network would be allowed to operate in Boston, similarly, the...
JinkoSolar (NYSE:JKS) reported its now-usual very strong quarterly results. The company’s growth prospects remain very impressive, as does the outlook for the overall solar-energy sector. But different factors have lit a very hot fire under JKS stock and appear to have finally vanquished the short sellers who had kept the shares from climbing much above $28 in the last five years.
Source: Lutsenko_Oleksandr / Shutterstock.com The “smart money”– including the huge investment banks Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), and Citi (NYSE:C) — have been accumulating JinkoSolar’s shares for a couple of years. The stock started to rally in November 2019, but the surge was cut short in January, likely by the beginning of the novel coronavirus pandemic. Now, enough investors are confident in the stock’s outlook to seize control from the short sellers, who for years had routinely accounted for around 50% of the stock’s daily trading volume.
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Chinese electric vehicle maker Nio Inc. (NYSE: NIO) on Friday said September was a record month for deliveries.What Happened: The Shanghai-based company reported delivering 4,708 units in the month, a growth of 133.2% year-over-year.Nio said it sold 3,210 ES6, 1,482 ES8, and 16 EC6 model vehicles.Overall, deliveries increased 154.3% in the quarter ending Sept. 30 over the similar quarter previous year at 12,206, exceeding the company's previously-shared guidance.The company said this brought its total combined sale of the three models to-date at 58,288, including 26,375 this year alone.Why It Matters: Deutsche Bank Securities analyst Edison Yu earlier this week said he expected Nio to post record deliveries in the third and fourth quarters this year, especially on the back of the EC6 sports utility vehicle.Nio began deliveries for the EC6 SUV in late September.Local rival Li Auto Inc. (NASDAQ: LI) reported 3,504 electric vehicle deliveries in September on Friday, as well....
Oct.02 -- With President Donald Trump and First Lady Melania Trump testing positive for coronavirus, how will the diagnosis impact voters at the polls? Bloomberg’s Craig Gordon reports on “Bloomberg Markets: European Open.”...
(Bloomberg) -- U.S. equity index futures fell after President Donald Trump announced that he and First Lady Melania Trump had tested positive for Covid-19, sparking a pull-back in riskier assets and sending the VIX higher.December contracts on the S&P 500 Index were trading 1.2% lower as of 9:15 a.m. in London after falling as much as 2% earlier. Futures on the Dow Jones Industrial Average were down 1.2% and those on the Nasdaq 100 Index down 1.8%. The VIX Index rose to 29, but remained below peaks seen last week. The Stoxx Europe 600 fell as much as 1.2% shortly after the open, before bouncing off lows, still down 0.4%.In a memo released early Friday morning in the U.S., Trump’s physician said that the president and first lady plan to remain at the White House “during their convalescence” and that the medical unit would “maintain a vigilant watch.”READ: Market Watchers Warn...
