Morning News: June 3, 2016
Posted by Eddy Elfenbein on June 3rd, 2016 at 7:03 am

Saudi Oil Chief Khalid al-Falih Tells OPEC Changes Are Coming

Draghi’s Drugs Have Age Limit

Osborne Enlists JPMorgan’s Dimon for Help as Brexit Gains Ground

Former Morgan Stanley Deal Makers Reunite on Exchange Merger

U.S. Subpoenas Huawei Over Its Dealings in Iran and North Korea

Employers in U.S. Moderating the Pace of Hiring

Treasuries Hold Three-Day Advance Before U.S. Payrolls Data

Lesson One at Trump University: The Hard Sell

Gannett Is Leaning Toward Dropping Bid to Acquire Tribune

Samsung Pay Enters Europe Via Spain

Wal-Mart to Test Grocery Delivery With Uber and Lyft

Wal-Mart Says It Is 6-9 Months From Using Drones to Check Warehouse Inventory

Amid SEC Probe, Jack Ma Says Hard For U.S. to Understand Alibaba

Cullen Roche: What is the Worst Case Scenario for Bonds?

Josh Brown: What You Need to Know About the “Earnings Recession”

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Morning News: June 2, 2016
Posted by Eddy Elfenbein on June 2nd, 2016 at 7:06 am

Investors Cautious Ahead of ECB and OPEC Meetings

Greece Running Out of Time for Quick ECB Waiver Reinstatement

U.S. Consumer Spending Increase Strongest in Over Six Years

Payday Borrowing’s Debt Spiral to Be Curtailed

Johnson & Johnson Treats Itself to $3.3B Deal for Vogue International

EU Cautions Governments Against Banning Uber, Airbnb

Uber Raises $3.5 Billion From Saudi Sovereign Wealth Fund, Keeps $62.5 Billion Valuation

Qatar Airways Takes Battle To Delta With Daily Flights To Atlanta From Today

This Year’s NBA Finals Pit Nike Against Under Armour

Lululemon’s Billionaire Founder Slams Company, Saying It Has ‘Lost Its Way’

Instagram Adds Business Profiles in Advertising Growth Push

Temasek, GIC Buy $1 Billion in Alibaba Stock in SoftBank Sale

Going Broke Slowly: A Guide to Sprint’s $33 Billion Debt Dilemma

Jeff Carter: Does a Rate Rise Hurt Startup Financing?

Cullen Roche: Is There a Bubble in Low-Volatility Funds?

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Hey Elizabeth, How Much Does Forbes Say You’re Worth?
Posted by Eddy Elfenbein on June 1st, 2016 at 10:53 am

From Forbes:

Last year, Elizabeth Holmes topped the FORBES list of America’s Richest Self-Made Women with a net worth of $4.5 billion. Today, FORBES is lowering our estimate of her net worth to nothing. Theranos had no comment.

The Tech Rollercoaster
Posted by Eddy Elfenbein on June 1st, 2016 at 8:28 am

Morning News: June 1, 2016
Posted by Eddy Elfenbein on June 1st, 2016 at 7:12 am

Abe to Delay Putting Japan’s Sales Tax Increase Into Effect

OECD Blasts Governments for Slipping Into ‘Low-Growth Trap’

Ahead of Meeting, OPEC Seems Close to Riding Out Price Slump

What the Sharp Consumer Spending Revival Means for the Economy

Consumer Confidence Misses Estimates

U.S. Court Rules $24.9 Billion Dell Buyout Underpriced By 22%

Tesla Rival Faraday Wants to Build Electric Cars in Vallejo

Amazon CEO Jeff Bezos: We Should Settle Mars ‘Because It’s Cool’

Japan’s SoftBank Plans to Sell $7.9 Billion in Alibaba Stock to Cut Debt

Ahold Earnings Benefit From Increased Sales and Cost-Savings

Russian Manufacturing Edges Toward Growth as Economy Stabilizes

Musk Says It’s ‘Obvious’ Model 3 Owners to Pay for Superchargers

Barclays Director Accused of Trading Tips for New Bathroom

Josh Brown: Banks Should Get Down on Their Knees and Pray for Regulation

Roger Nusbaum: Summertime & The Trading Is Not So Easy

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Talking Amazon
Posted by Eddy Elfenbein on May 31st, 2016 at 3:25 pm

The Tech Rollercoaster
Posted by Eddy Elfenbein on May 31st, 2016 at 10:01 am

Here’s a strange chart.

The Tech Sector ETF (XLK) lagged the S&P 500 nearly every day last month. Then suddenly, it beat the market most days this month. It’s hard to show just how unusual this kind of behavior is.

Biogen Breakout
Posted by Eddy Elfenbein on May 31st, 2016 at 9:53 am

We added Biogen (BIIB) to the Buy List this year, and I’m not sorry I added it, but the stock hasn’t done much for us. At least, not yet.

The stock has given us several false rallies, and it’s been up again recently. This time, however, could be different. I think traders would definitely take notice if BIIB could break $290 per share.

Gold Is Falling Like a Rock
Posted by Eddy Elfenbein on May 31st, 2016 at 9:44 am

I guess, technically, gold is an element. Either way, spot gold has not been in a good mood lately. This is a little surprising since some of the industrial sectors have done a little better in a relative sense.

Spot gold has now dropped for the last eight days in a row, and it’s nearing key support levels (around $1,200 per ounce).

Morning News: May 31, 2016
Posted by Eddy Elfenbein on May 31st, 2016 at 7:22 am

German Unemployment Rate Falls to Record Low in May

Zimbabwe Banks Blame Cash Shortage on Laundering, State Paydays

Scotiabank Profit Falls 12% on Restructuring Costs for Job Cuts

OPEC’s Cheap Oil Strategy Lures Drivers Back Into Gas Guzzlers

Top Retailers Fall Short of Commitments to Overseas Workers

Verizon Strike to End as Both Sides Claim Victories on Key Points

Jazz Pharmaceuticals Agrees to Buy Celator for About $1.5 Billion

Volkswagen Emissions Cheating Hits Profit at Biggest Brand

Dollar General: A Long-Term Retail Growth Story With A Deep Moat Against Amazon

Eurozone Inflation Remains Negative but Poised for Oil Boost

Nestle Buys Rights to Milk-Allergy Test From French Company DBV

Nvidia: Expect Amazon To Buy More Pricey Tesla GPUs

Goldman Sachs Raises Odds of China Share Inclusion in MSCI Indexes to 70%

Viacom Independent Directors Vow to Fight Redstone’s Ouster Attempt

Jeff Carter: Taxing Trump

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