(Bloomberg) -- Occidental Petroleum Corp. has garnered around $3 billion of orders for its inaugural high-yield bond sale, according to people with knowledge of the matter.Pricing discussions on the company’s planned three-part unsecured offering include a five-year bond with a yield of 7.75% to 8%. A seven-year note may yield between 8.25% and 8.5%, while a 10-year security may yield 8.75% to 8.875%, according to other people, who asked not to be named because the discussions are private.Citigroup Inc. is leading the deal, and the debt may be sold as soon as Friday. Representatives for Citigroup and Occidental declined to comment.Occidental is using proceeds from the sale to buy back as much as $1.5 billion of bonds maturing in 2021 and 2022. The company is seeking to tame its balance sheet after it purchased Anadarko Petroleum Corp. last year in a transaction that saddled the company with around $40 billion of...
Dividend stocks are always popular with investors, and it’s no secret why. A reliable dividend provides a steady income stream even when times are hard and markets turn down, protecting investors from losses due to share depreciation.Finding the right dividend stock, however, is the real trick. Yields average only about 2%, and some of the market’s stalwart stocks yield less than 1% (Apple and Microsoft come to mind). But high-yielding dividend stocks, with reliable payments, are out there – even during these corona crisis times.Top analysts from investment bank JPMorgan have been focusing their gaze on some likely candidates for income investors’ interest. Using the TipRanks database, we’ve pulled the details on three of JPM’s dividend stock picks, to find out just why they’re such compelling choices. Hess Midstream Operations (HESM)We'll start in the energy industry, with Hess Midstream. When you think of the hydrocarbon sector, it’s normal to focus on...
When I was a young boy, I did what other males my age did, at least the cool ones: take karate lessons. Though it may seem comical now, I learned the foundations of honor, commitment, and discipline. These are the attributes that drive companies like Toyota (NYSE:TM). But upstart Nikola (NASDAQ:NKLA) is a completely different animal. And this is exactly why Nikola stock is so fascinating to speculators.Source: Nikola Press CenterNot too far removed from my karate days, I had the distinct privilege of attending a one-day ninja class. Taught by a then-popular Hollywood stuntman, a ninja's warcraft is wildly dissimilar from traditional martial arts. As you probably know, ninjas are assassins. They kill quickly and brutally for a profit, a perfect analogy for electric vehicle maker Tesla (NASDAQ:TSLA).In my adult years, I came across a discipline called Krav Maga. More self-defense than martial art, Krav Maga is undoubtedly the most...
(Bloomberg) -- When news broke last month that Amazon.com Inc. was interested in buying Zoox Inc., observers assumed the e-commerce giant was looking to automate its delivery fleet. After all, Amazon already invested in an electric truck maker and is a major buyer of everything from planes to diesel vehicles.But in a statement on Friday confirming its acquisition of the autonomous vehicle startup, Amazon touted Zoox for its ride-hailing ambitions. Ride hailing? Amazon?“You say, does it make sense?” said Mike Ramsey, a Gartner vice president who tracks the auto industry. “Well, does it make sense that the package delivery company sells me streaming movies?”Zoox is a corporate investment, not an acquisition to be folded into one of Amazon’s existing businesses, the company says. Aicha Evans, Zoox’s chief executive officer, and Jesse Levinson, co-founder and chief technology officer, will continue to lead the company as a standalone business.“Zoox is working to imagine,...
A key step in the return to service of the grounded Boeing 737 MAX could take place as soon as early next week, two people briefed on the matter said on Friday. Boeing Co's best-selling plane has been grounded since March 2019 after two fatal crashes killed 346 people. A certification flight test, which is expected to last at least two days, is likely to take place starting as early as Tuesday but has not been finalized....
(Bloomberg) -- PG&E Corp. shares tumbled after the company raised more than $5 billion in a common stock and equity unit offering to help finance its exit from the biggest utility bankruptcy in U.S. history.The California power giant’s shares fell as much as 5.8% Friday, to $9.17, following its sale of more than 420 million shares at $9.50 each. The shares were trading at $9.34 at 12:18 p.m. in New York.PG&E’s offering is one the year’s largest stock sales and part of the company’s plan to raise $9 billion in equity to help pay for claims from wildfires through its Chapter 11 case. The company has also raised more than $13 billion in the debt markets to finance its bankruptcy, which began after its equipment sparked deadly blazes in Northern California.The company said it expects to emerge from Chapter 11 on or about July 1.The broader market also fell Friday, with...
