Stock Pick

  • Billionaire Investor Dan Loeb’s Fund Lists Boeing As Top Winner In May

    Billionaire Investor Dan Loeb’s Fund Lists Boeing As Top Winner In MayBillionaire investor Dan Loeb’s Third Point LLC fund has Boeing Co (BA) listed among its top winners in May sending shares in the ailing planemaker up 13% on Wednesday.The stock help up its gains on Wednesday even after Loeb told CNBC that he bought Boeing debt and not stock, reversing earlier market rumors that the fund entered into an equity position. The planemaker is joined by the likes of Walt Disney (DIS) and Burlington Stores Inc. on the investor’s list of top winners in May. The hedge fund returned 1.6% on its investments in May after 7.1% a month earlier.In recent days, Boeing stock has benefited from a number of positive news. SMBC Aviation Capital announced this week that it has deferred, but not cancelled, the delivery of 68 of its 737 MAX jets until 2025. In addition, the struggling planemaker reached an agreement on a comprehensive package with German travel operator TUI to offset the financial impact of last year’s grounding of its 737 MAX jets.Last week, Boeing said it restarted 737 MAX production at its factory in Renton, Washington, albeit at a low rate and is planning to gradually ramp up production this year.Travel restrictions tied to the coronavirus pandemic have resulted in a deep cut in the number of commercial jets and services Boeing customers need over the next few years. As a result, Covid-19 has hit the planemaker very hard, with shares still down 48% since the beginning of the year.The stock surged 13% to $173.16 at the close on Wednesday and rose another 3% in after-market trading. It is up 19% so far this week.Wall Street analysts are still cautiously optimistic about the stock. Eight Buys, 11 Holds, and 1 Sell rating give Boeing a Moderate Buy analyst consensus, with the $161.61 average analyst price target reflecting 6.7% downside for Boeing shares. (See Boeing stock analysis on TipRanks).Related News: Amazon Leases 12 Boeing Cargo Aircraft To Meet Online Orders Surge TUI Strikes Compensation Deal With Boeing Over 737 MAX Jets Boeing Gets No Orders in April, Customers Cancel 737 MAX Jets More recent articles from Smarter Analyst: * Uber CEO Reveals Pickup In May Rides As Covid-19 Restrictions Ease * Elastic Falls 7% Post-Print; Top Analyst Sees Multiple Growth Levers Ahead * Costco Reports May Sales Jump; Top Analyst Says Stock ‘Best Positioned’ For Current Crisis * Amazon Leases 12 Boeing Cargo Aircraft To Meet Online Orders Surge

    from Yahoo Finance https://ift.tt/36XrNJH

  • Shell plastics plant Trump touted faces oversupply risks -energy institute report

    from Yahoo Finance https://ift.tt/2XAbjEl

  • ASX 200 rises again, rises 0.8%

    ASX 200

    What happened on the ASX today

    The S&P/ASX 200 Index (ASX: XJO) has risen again today. The ASX 200 went up 0.84% to 5,992 points.

    Another strong day for ASX travel shares

    The ASX travel sector has had yet another strong day as confidence returns for the industry.

    Today we learned that Qantas Airways Limited (ASX: QAN) plans to have about 40% of its domestic flights back up and running by the end of July 2020. The ASX 200 airline’s share price went up more than 7% today.

    Other ASX 200 travel shares also rose today. The Corporate Travel Management Ltd (ASX: CTD) share price went up 8.8%, the Webjet Limited (ASX: WEB) share price climbed 2.5% and the Flight Centre Travel Group Ltd (ASX: FLT) share price rose by 8.4%.

    Westpac Banking Corp (ASX: WBC) pleases investors with investigation

    Westpac announced the findings of its AUSTRAC internal investigation today.

    The bank said that there was a failure of technology, processes and human error. However, there was no evidence of intentional wrongdoing, instead it was a fault of omission.

    Management said that the ASX 200 bank has learned from this and it needs to change.

    The Westpac share price hit $18.70 in early trading, but ended 1.3% higher to $18.18.

    Looking at the other major ASX 200 banks, the Commonwealth Bank of Australia (ASX: CBA) share price rose 2.3%, the Australia and New Zealand Banking Group (ASX: ANZ) share price went up 1.5% and the National Australia Bank Ltd (ASX: NAB) share price grew 1.2%.

    Magellan Financial Group Ltd (ASX: MFG) makes two announcements

    The share price of Magellan fell 0.75% today.

    The internationally-focused ASX 200 fund manager revealed that its funds under management (FUM) increased by around $1.5 billion over May 2020 to $98.45 billion. Net outflows during the month amounted to $288 million which included net retail inflows of $228 million and net institutional outflows of $516 million.

    Magellan has also launched the Airlie Australian Shares Fund, which is an exchange-traded fund (ETF) which can be bought through the ASX and through unlisted channels. It eliminates the need to have two separate funds.

    NEW! 5 Cheap Stocks With Massive Upside Potential

    Our experts at The Motley Fool have just released a FREE report detailing 5 shares you can buy now to take advantage of the much cheaper share prices on offer.

    One is a diversified conglomerate trading over 30% off it’s all-time high, all while offering a fully franked dividend yield of over 3%…

    Another is a former stock market darling that is one of Australia’s most popular and iconic businesses. Trading at a significant discount to its 52-week high, not only does this stock offer massive upside potential, but it also trades on an attractive fully franked dividend yield of almost 4%.

    Plus, this free report highlights 3 more cheap bets that could position you to profit in 2020 and beyond.

    Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares.

    But you will have to hurry because the cheap share prices on offer today might not last for long.

    YES! SEND ME THE FREE REPORT!

    As of 2/6/2020

    More reading

    Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

    The post ASX 200 rises again, rises 0.8% appeared first on Motley Fool Australia.

    from Motley Fool Australia https://ift.tt/3gTrrby

The Latest

  • The list of market resources pinned to the top of the sub has been updated!

    ·

  • Financial statement inaccuracy

    ·

  • PFE | Pfizer and German partner BioNTech SE said Tuesday they’ve begun delivering doses of their coronavirus vaccine to US candidates with trials in Germany already underway.

    ·

  • PFE | Pfizer and German Parker BioNTech SE have begun delivering doses of their coronavirus vaccine for human testing US, trials in Germany already underway.

    ·