It’s been a tough year for Chevron shareholders, and one trader is betting on even more pain ahead. Energy is the worst-performing sector in 2017, with more than 90 percent of its constituents trading in a correction or worse, including Chevron. The stock was feeling even more pressure this week after CEO John Watson announced […]
Read moreFormer undercover CIA agent Valerie Plame Wilson is looking to crowdfund enough money to buy Twitter so President Donald Trump can’t use it. Wilson launched the fundraiser last week, tweeting: “If @Twitter executives won’t shut down Trump’s violence and hate, then it’s up to us. #BuyTwitter #BanTrump.” The GoFundMe page for the fundraiser says Trump’s […]
Read moreElon Musk unveiled the first picture of the SpaceX spacesuit on Wednesday on his Instagram account. It’s sexy. It’s the “James Bond” version of space gear. That’s very much on purpose. But it’s not easy being sexy in space. In the post, Musk says it “was incredibly hard to balance aesthetics and function. Easy to […]
Read morePipeline and energy infrastructure companies face operational challenges in the coming years even as U.S. crude oil drilling recovers and a natural gas export boom gets underway, consulting firm Bain & Company says in a new report. While there is demand for new infrastructure, three trends in the industry could trip up pipeline companies, Bain […]
Read moreBanks are making what could turn out to be an expensive bet that interest rates will stay low for several more years. The level of loans and securities with a duration of longer than three years is at 35.4 percent of total assets, according to data the FDIC released this week. That’s near the highs […]
Read moreAerospace defense company United Technologies may be targeted by an activist hedge fund, according to a vague report on Wednesday. “An unidentified hedge fund — possibly the New York billionaire’s investment firm Third Point — has been quietly buying up shares of the defense contractor, pressuring it to spin off non-core businesses,” NYPost reported citing […]
Read moreThe weakening in the ad market is due to digital disruption, activist investors and the low cost of capital money, WPP CEO Sir Martin Sorrell told CNBC. WPP’s latest earnings report on Wednesday showed a larger than estimated decline in consumer product company advertising spending. The stock declined more than 10 percent on the news. […]
Read moreAlphabet’s Waymo subsidiary is training self-driving cars by using virtual worlds and a real-world testing ground near Merced, California, according to a report in The Atlantic. The report offers new insight into the massive effort Alphabet is expending in self-driving cars, and suggests how hard it will be for other companies to catch Waymo, which […]
Read moreCopper has soared about 19 percent this year, and Vertical Research Partners’ Mike Dudas says the metal has more room to run. “It has had a really strong move over the last 6 to 7 weeks, so I wouldn’t be surprised to see if there’s a little bit of a bad data point in China, […]
Read moreAfter more than a decade as an asset manager for large multinational banks, a Brazilian, Márcio Appel, wanted to make it on his own. The political and economic upheaval in his country was not going to deter him. Even on the heels of a new scandal erupting in May that rocked the markets, the hedge […]
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