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(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China agreed to buy $52.4 billion of additional U.S. energy products as part of a landmark trade deal signed by the world’s two top economic superpowers.The purchases over two years will include liquefied natural gas, crude oil, refined products and coal, the U.S. government said Wednesday in Washington. It didn’t provide additional details on the energy purchases, which comprise about a quarter of the $200 billion total of extra imports that China has committed to.The accord is a promising sign for the U.S. LNG industry, which is facing a global market awash with excess supply. China, the world’s fastest-growing buyer of the heating and power-plant fuel, hasn’t imported any American cargoes since February 2019.Though shipments of shale gas from American export terminals completed in the past three years have made the U.S....
(Bloomberg) -- Organigram Holdings Inc.’s chief executive officer warned that the industry will remain unpredictable until the final quarter of this year, even as the pot producer’s stock headed for its biggest gain ever.Organigram shares surged as much as 50% Wednesday in New York after its fiscal first-quarter revenue beat the highest analyst estimate and it returned to positive adjusted Ebitda after a loss in the prior quarter. Investors are eager to see cannabis companies report profits, rewarding the few that have and punishing those that haven’t.Much of the sector followed Organigram higher, with Hexo Corp. up 17%, Aurora Cannabis Inc. gaining 15%, Cronos Group Inc. adding 8.2% and Aphria Inc. up 8%.However, it will take a few more quarters before the industry can generate predictable results, said CEO Greg Engel.“I still think we’re not going to hit any sense of normalcy or predictability until the fourth quarter of this year,”...
(Bloomberg Opinion) -- Traders who make a living betting on mergers still won’t touch T-Mobile US Inc. and Sprint Corp.’s deal with a 10-foot pole. The wireless carriers may have been able to butter up two federal regulatory authorities by using the wonders of a 5G-powered America to distract from their deal’s likely competitive harm. Even so, merger-arbitrage traders live in a world of mathematical probabilities informed by laws and legal precedents, and on that basis, it’s hard to imagine that the judge presiding over a case brought by a group of state attorneys general opposing the deal will rule in the companies’ favor. Lawyers for both sides each delivered closing arguments Wednesday, with a decision from U.S. District Judge Victor Marrero expected to come some time in February. Analysts largely view the odds as a toss-up, if not slightly tipped in T-Mobile and Sprint’s favor. But the equity market paints a meaningfully different picture: The per-share value of T-Mobile's offer is 67%...
On the heels of a price target revision by DA Davidson to a Street-high $375 earlier this week, Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Apple Inc. (NASDAQ: AAPL ) and raised ......
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