Category: Stock Market

The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

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The government is stepping up its efforts to fund vaccine studies and production for at least three of five frontrunner candidates — something that Dr. Anthony Fauci told Yahoo Finance will be worth its weight in gold in the long run.

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Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. You should check out Miller […]

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(Bloomberg) — Elon Musk wasn’t about to let a revenue-less manufacturer of zero-emission semi trucks steal the spotlight from Tesla Inc.The chief executive officer sent an email to employees before the market opened Wednesday declaring that it is “time to go all out” and put Tesla’s Semi into volume production. Musk didn’t give a time frame for when he expects mass output to actually happen. Just six weeks ago, Tesla said it was postponing initial deliveries to 2021, roughly two years later than initially planned.If Musk was looking to regain the attention of any investors whose eyes had wandered toward Nikola Corp., the market got the memo. Tesla’s stock surged past $1,000 for the first time, while shares of newly listed Nikola sold off after days of hype about its plans to bring battery-electric and fuel-cell haulers to market in the coming years.“This is Elon making noise because of Nikola,” said Ben Kallo, an analyst at Robert W. Baird. He said other factors are fueling the stock’s gain, including strong sales in China and the anticipation of a “Battery Day” event as soon as this month.Tesla soared as much as 8.4% to $1,019.86, lifting its market capitalization to an intraday peak of $189 billion. It’s gaining ground on Toyota Motor Corp., the world’s most valuable auto company at $215.9 billion.Nikola shares fell as much as 17% on Wednesday after advancing 122% the prior two days. It’s planning to start delivering a battery-electric semi next year, followed by fuel-cell rigs in 2023.“Given some of the other news flow in the past month to two months on the Class 8 truck market, I think he’s probably trying to keep Tesla in the marketing cycle just for all the mega trends going on in trucking,” Jeff Osborne, a Cowen & Co. analyst, said of Musk. He rates Tesla the equivalent of a sell.Trevor Milton, Nikola’s 38-year-old founder, took Musk’s memo in stride.Reuters reported Musk’s email to Tesla employees earlier Wednesday. The CEO confirmed its authenticity to his more than 35 million Twitter followers.(Updates with analyst’s comment in the fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Miller Value Partners recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Miller Value Partners Opportunity Equity Fund posted a return of -38.4% for the quarter (net of fees), underperforming its benchmark, the S&P 500 Index which returned -19.6% in the same quarter. You should check out Miller […]

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Treasury Secretary Steven Mnuchin believes the U.S. economy will need more help to pull out of the recession, but said the next round of support should be more targeted to the hardest hit parts of the economy. Congress has already approved close to $3 trillion in support to deal with the impact of the coronavirus, which has resulted in millions of layoffs and has pushed the country into recession. “There is no question that small businesses in many industries will need more help,” Mnuchin said.

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DoubleLine Capital CEO and billionaire bond investor Jeffrey Gundlach sees a potential “wave of more higher-end unemployment’ hitting white-collar workers. Yahoo Finance’s On The Move panel weighs in.

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(Bloomberg) — The coronavirus has wreaked havoc on commercial aviation, but Alexey Isaykin’s cargo carrier has been fully loaded.Volga-Dnepr Group has flown more than 3,000 breeding pigs to China from France this year. The animals — transported 6,450 miles (10,400 kilometers) in wooden crates in the hold of a Boeing 747 cargo plane — are being used to restore local livestock levels to help mitigate shortages in the world’s largest pork market after an outbreak of African swine fever decimated China’s hog herds.Measures to stem the spread of the coronavirus amplified those swine shortages and accelerated attempts to boost the population of domestic herds. China imported a total 254,533 tons of pork in the first four months of the year from the U.S., which overtook Europe to become China’s largest pork supplier. That’s already more than the 245,000 tons China bought for the whole of 2019.The cargo is a sign of the shifting demand that Isaykin’s company — known for transporting everything from satellites to emergency bridges — is experiencing as the pandemic reshapes his industry.The company is also shipping masks, hazmat suits, medical equipment and even street-disinfecting vehicles to countries like Russia, France and Germany as they battle to contain the virus. Volga-Dnepr’s sales rose 32% to $630 million this year through April compared with the same period in 2019.“Global aviation is going through its most challenging time ever, but for cargo carriers like us it’s a chance,” Isaykin said in a Zoom interview from Moscow. “Previously, more than half of all aviation cargoes were carried in the luggage compartments of passenger planes. With this supply vanishing from the market, demand for cargo airlines surged and prices more than doubled.”While demand for air freight dropped 28% in April compared with a year earlier, capacity fell by 42%, according to the International Air Transport Association. Isaykin’s stake in closely held Volga-Dnepr is estimated to be worth around $700 million, according to the Bloomberg Billionaires Index. The Russian company’s revenue may increase by a third this year to $2 billion, Isaykin predicts.Expanding GeographyThe overall rise in sales has come even as some revenue streams shrink. Shipments for the aerospace industry have fallen by about a third compared with last year, Isaykin said.Medical goods now account for more than half of global air freight, with e-commerce cargo for firms like Amazon.com Inc. and Alibaba Group Holding Ltd. another growing category.Volga-Dnepr’s footprint is also shifting, Isaykin said.“The geography of our shipments is expanding, following the spread of coronavirus,” Isaykin said. “We just started shipping Chinese medical goods to Africa and are getting first inquiries from Latin America. I think India will be next.”Some of this demand may prove to be short-lived. Freight rates have started to decline, and the market for shipping health-related cargo may drop in the second half of the year, Isaykin said. Still, he expects volumes and prices to stay above the “pre-virus” level with fewer passenger planes expected to be flying.Some new business may herald lasting changes to the world economy. While his carrier is shipping pigs to China, it’s also ferrying assets the other way. The company recently transported a production line for making masks to Russia’s Tatarstan region from China.“An interesting trend is gaining traction now — we call it the medieval period of the 21st century — when strategically important production facilities are being relocated to reduce dependence on China,” Isaykin said. “I am expecting this trend to accelerate toward year-end.”(Updates with air freight data in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Boeing Co is aiming to conduct a key certification test flight on its grounded 737 MAX in late June, two people briefed on the matter said. The 737 MAX has been grounded since March 2019 after two fatal crashes killed 346 people. Boeing told airlines it hopes to conduct the flight in late June and also notified them of a fix to address safety concerns about the placement of wiring bundles, the sources said.

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Investors who owned stocks in the 2010s generally experienced some big gains. In fact, the SPDR S&P 500's (NYSE: SPY) total return for the decade was 250.5%. But there's no question some big-name stocks did much better than others along the way.Marathon's Difficult Decade: One underperformer of the last decade was U.S. oil exploration & production company Marathon Oil Corporation (NYSE: MRO).Marathon's past 10 years were dominated by a major restructuring, a surge in U.S. shale oil production and an unprecedented collapse in oil prices due to COVID-19.Marathon shares started the 2010s trading at around $19.25 but hit their decade-high above $37.99 in mid-2014 just prior to the first collapse in oil prices. That first downturn was driven by a supply glut credited in large part to a booming U.S. shale oil industry.In 2011, during the shale oil boom, Marathon restructured its company, spinning off its refining business into its own entity. The E&P business continued trading as Marathon under the ticker "MRO," and the refining company began trading as Marathon Petroleum Corp (NYSE: MPC).The spinoff was structured so that Marathon Oil shareholders received one share of MPC stock for every two shares of MRO they held.2020 And Beyond: Marathon Oil shares have drifted steadily lower over the past six years since the oil market peaked in 2014. Marathon shares are down 71.7% overall in the past five years, dipping to all-time lows of $3.02 earlier this year when oil prices plunged briefly into negative territory. Yet Marathon Petroleum has held up relatively well, preserving value for investors.At Marathon's $19.25 opening price for the decade, an investor would have been able to buy about 52 shares of Marathon stock for $1,000. Those shares would have entitled investors to 26 shares of MPC stock following the spin-off.Therefore, $1,000 worth of Marathon Oil stock in 2010 would now be worth about $492, assuming reinvested dividends.The 26 shares of MPC initially worth about $546 have generated a total return of about 142.3% since the spin-off and would now be worth about $1,322. So overall, $1,000 worth of Marathon Oil stock in 2010 would be worth around $1,814 today, assuming reinvested dividends.Looking ahead, analysts expect even more difficulties for Marathon in 2020. The average price target among the 26 analysts covering the stock is $6, suggesting 22.5% downside. Related Links:Here's How Much Investing ,000 In The 2014 GrubHub IPO Would Be Worth Today Here's How Much Investing ,000 In The 2011 Spirit Airlines IPO Would Be Worth TodaySee more from Benzinga * GasBuddy Analyst Talks Battered Oil Industry, Why Gasoline Prices Aren't Lower * 'An Outlier Event': Experts React To Oil Prices Dropping Below 'An Outlier Event': Experts React To Oil Prices Dropping Below $0 * 9 Worst-Performing Stocks Of 2020: Buy, Sell Or Hold?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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