It goes without saying that in the midst of the novel coronavirus pandemic, consumers aren't buying cars, and that has created some huge headwinds for U.S. auto giant Ford (NYSE:F), with F stock down more than 30% year-to-date.Source: JuliusKielaitis / Shutterstock.com To be sure, as the global economy has gradually reopened over the past few weeks, Ford stock has rallied in a big way. At one point in early June, shares were up 90% from their March lows.But Ford stock has given up a big chunk of those gains, falling more than 15% recently as Wall Street has become increasingly concerned about a potential "second wave" of Covid-19.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhat now? Sell Ford stock because the second wave of coronavirus is going to kill the rally? Or buy the dip because this second wave won't do much damage?I think the latter. Buy F stock...
(Bloomberg) -- U.S. stocks slumped to the lowest levels of the day after Arizona and Florida reported their biggest increases in new Covid-19 cases since the pandemic began and Apple said it would close some stores in those states. Oil turned positive after briefly dropping into the red.The S&P 500 dropped as much as 1%, led by declines in industrial, real estate and financial shares. Stocks had rallied at the start of U.S. trading amid reports that China plans to accelerate purchases of American farm goods to comply with the phase one trade deal boosted risk appetite. Still, with uncertainty over how quickly economies can emerge from lockdowns, and a welter of options set to expire in a quarterly event know as quadruple witching, investors are being whipsawed by bouts of volatility.“That’s a worrisome sign for markets,”said Matt Forester, chief investment officer of BNY Mellon’s Lockwood Advisors. “This is a continuation...
(Bloomberg) -- German payments firm Wirecard AG was tipped into a full-blown crisis after disclosing it was unable to locate 1.9 billion euros ($2.1 billion) missing from its balance sheet.The company now faces a potential cash crunch and warned lenders could call in loans of as much as 2 billion euros after multiple delays to publication of an audited financial report.Read more: Wirecard Creditors Seek More Transparency Amid Talks About DebtThe company’s creditors are likely to organize and appoint advisers to try and negotiate a solution that gets as much as their money back as possible. Here’s how that may unfold.Read More: Wirecard’s Missing Billions Forces Out CEO, Panics LendersWhat could be next?Lenders may agree to a standstill agreement on debt servicing or submitting financial reports to avoid a technical breach of debt terms. Both they and the company are likely to appoint financial and legal advisers to discuss a potential...
Sunrise Transport Inc., the fleet business in Four Seasons Family of Companies based in Ephrata, Pennsylvania, recently promoted two employees to senior management roles. ...
The dominance of the technology sector has been on full display lately. Internet stocks helped the Nasdaq Composite briefly reclaim the vaunted 10,000 level today. And before the markets' nosedive, the Nasdaq-100 ETF (NYSEARCA:QQQ) moved a whisker away from hitting a new 52-week high.With all the relative strength, it's impossible not to bet with bulls right now. And that's what today's gallery is all about. In finding the ideal candidates, I focused on internet stocks to buy that are either breaking to new highs or close to it. Two of the three are pushing to record highs. The third is a ways off but just hit a recovery high this morning. * 10 Cash-Rich Stocks to Buy for Peace of Mind Here are the three companies in the spotlight:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Crowdstrike Holdings (NASDAQ:CRWD) * Workday (NASDAQ:WDAY) * Splunk (NASDAQ:SPLK)After breaking down their...
In the five days following the June 3 closure of its merger with VectoIQ -- an event that put Nikola (NKLA) on the Nasdaq under its own name -- shares of the electric truck company skyrocketed an incredible 135%. This happened without a single word of support for the company from Wall Street.Eight more days of ups and downs later, Nikola stock is still trading 90% higher, and at long last, Wall Street has taken notice.Cowen analyst Jeff Osborne became the first Wall Street investment bank to endorse Nikola, initiating coverage with an "outperform" rating and a $79 price target that promises at least another 21% upside to new investors today.Now, Osborne began its research note with an admission: "Nikola is likely to be a controversial stock in the eyes of many investors and onlookers given it is pre-production." Put plainly, this is a company without any products actively on the...
(Bloomberg) -- Oil exploration shrank for a 14th straight week in U.S. fields amid weak crude prices and skepticism about a recovery in energy demand.Drillers idled 10 oil rigs in onshore U.S. fields this week, bringing the total to 189, according to data released Friday by Baker Hughes Co. Despite this week’s rise in crude prices to a three-month high around $40 a barrel, they still are more than 35% below the January high.In the Permian Basin, the oil deposit in West Texas and New Mexico that largely drove the past decade’s surge in U.S. crude output, drillers shut off five rigs, bringing the total to 132, the lowest since April 2016.The rig tally, a widely watched data point that signals future production trends, dropped below 200 last week for the first time in more than a decade. Rather than drill new wells, some companies such as Continental Resources Inc. plan...
