Immutep Limited (ASX:IMM) has rebounded strongly over the last week, with the share price soaring 45%. But don't envy…

from Yahoo Finance https://ift.tt/2ZQb9K4

AT&T touted the "successful" launch of HBO Max — with the new service helping to boost overall HBO and HBO Max customers by 1.7 million over the first six months of 2020. As of June 30, 2020, AT&T's WarnerMedia reported 36.3 million total U.S. subscribers to HBO Max and HBO, up from 34.6 million at […]

from Yahoo Finance https://ift.tt/3eRBGe7

The media and telecommunications company, which launched streaming service HBO Max in May, reported 36 million subscribers for both “HBO Max/HBO”. In the first quarter, HBO had about 33 million customers. AT&T lost 151,000 postpaid mobile phone subscribers in the quarter, including about 338,000 customers who stopped paying but were kept on the network.

from Yahoo Finance https://ift.tt/3hrf3Po

Southwest Airlines reports Q2 earnings and CEO Gary Kelly says the airline intends no layoffs or pay cuts until at least the end of the year.

from Yahoo Finance https://ift.tt/3eQX6YY

(Bloomberg) — The forces behind the euro’s recent strength suggest this may only be the first stage of a big market shift.The currency’s 3% rally this month to near $1.16 has come on the back of dollar weakness due to narrowing bond-yield differentials and the U.S. struggle to deal with the pandemic, as well as the prospect of increased cohesion in the European Union after its agreement on a recovery fund.These factors remain very much in play. Yet what makes the case for the rally to extend further is that market positioning remains largely underweight on the euro. A structural shift in investor exposure would mean the trend has just begun.Hedge funds are still rushing to cover short exposure in the spot and options market, while institutional investors have just started to add long positions, according to traders in Europe, who asked not to be identified because they are not authorized to speak publicly.According to the latest data from the Commodity Futures Trading Commission for the week through July 14, asset managers increased their long positions to over 300,000 contracts, while leveraged funds were short by more than 32,000 contracts.The fact that traders are essentially covering cash shorts is shown by price action in the euro-dollar pair. Any corrections have been shallow and the fear of missing out in rallies has seen investors rushing to buy fresh highs.There’s a similar picture painted by risk reversals, a barometer of options positioning and sentiment, in the euro versus currency havens. Bearish sentiment in the euro versus the yen through option trades is now at its lowest level since early 2018, while against the Swiss franc the market started betting on gains last week.This means there is plenty of room for the common currency to rise should the EU keep handling the pandemic effectively and if the economic recovery in the region keeps defying initial expectations.Technical charts and commercial investor positioning also point to a continuation in the rally. Momentum could take the euro above $1.18, with the dollar at risk of a deep drop in coming months.According to CFTC data commercial investors, who are looking to hedge and thus trade in the opposite direction to anticipated price action, are adding more and more euro short positions. Historical patterns suggest that will be followed by the euro strengthening.NOTE: Vassilis Karamanis is an FX and rates strategist who writes for Bloomberg. The observations he makes are his own and aren’t intended as investment adviceFor 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.

from Yahoo Finance https://ift.tt/3fW1mHP

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

XAGUSD (Silver CFD) has gone vertical, seemingly trying to play catch up to Gold. Although this may seem logical, it is NOT a good idea to be consumed by such a limiting belief. What you are witnessing here is the herd mentality at an extreme, and it is very important to understand what this behavior means in terms of RISK.

from Yahoo Finance https://ift.tt/3ju5Szw

(Bloomberg) — Oil rose toward $45 a barrel in London, with a weaker dollar and stronger equity markets countering an expansion in U.S. crude stockpiles.Brent futures traded near their highest level since March as European stocks and U.S. equity futures advanced. Yet bearish signs persist in the physical market. China’s thawing oil demand has seen the value of Iraqi crude drop, and there’s renewed weakness in the key swaps that help value North Sea grades. In America, crude stockpiles rose by 5 million barrels last week.Oil jumped earlier this week after European Union leaders agreed on a stimulus package, but prices have struggled to break out of a tight range this month. While the race for a coronavirus vaccine is gathering pace, rising infections across major economies and the imminent easing of OPEC+ output cuts is keeping a lid on further price gains amid a patchy recovery in consumption.“Uncertainty comes from demand,” said Tamas Varga, an analyst at PVM Oil Associates. “It is imperative to follow the dollar exchange rate, as a layer of oil-demand support will disappear should the greenback start strengthening again.”The dollar slipped for a fifth session, falling 0.2%, making commodities priced in the U.S. currency more attractive.However, the recovery in U.S. gasoline demand has faltered, with Americans staying at home as the virus flares through the nation’s most populous states.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.

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

(Bloomberg Opinion) — It’s not only gold that glitters. Since touching its weakest level in more than a decade in March, silver has doubled to a seven-year high of almost $23 an ounce. Partly, it’s a rally fueled by the same low-yield, weak-dollar haven dynamic that has pushed bullion to within spitting distance of a record. Investor demand is booming and silver — which is the best conductor of electricity — has industrial uses, too. Short-term supply, meanwhile, has been dented by pandemic-related closures. The metal can keep shining.Silver tends to loosely track gold. Like the yellow metal, it is benefiting from investors’ jangled nerves, with the global economic recovery looking slow and further coronavirus outbreaks almost certain. Rock-bottom borrowing rates have also reduced the opportunity cost of holding a non-interest-bearing asset, and there’s no sign of a change. Investor demand is responsible for much of this accelerated rally. This year alone, exchange-traded funds have increased their gold holdings by more than a quarter to surpass 106 million ounces, according to data compiled by Bloomberg, taking the total value to almost $200 billion. Silver holdings have climbed 40%, to more than 850 million ounces.  In the futures market, net managed money long positions are climbing back toward levels seen at the end of 2019. The Silver Institute, meanwhile, estimates retail bullion coin sales jumped by an estimated 60% in the first half from a year earlier. Speculative interest in China, which helped drive silver to all-time highs in 2011, is also showing signs of life.Demand from other quarters is less dramatic, though still encouraging. It helps that silver has a range of applications, unlike gold, which is generally too expensive for industrial uses. Not all are growing: Appetite from photography has ebbed since the advent of the digital camera, while the consumer electronics and automotive sectors have suffered from the squeeze the pandemic has put on households. Yet silver jewelry is expected to drop less than gold, given its relative affordability. Solar panels, meanwhile, should benefit from green-tinged recovery efforts — photovoltaic cells account for about a fifth of silver’s industrial demand. China is the world’s biggest solar power market, and will increase installations this year, despite the slow start to 2020. The country’s silver imports have been running above average. Longer term, the advent of next-generation telecoms technology will help, too.All the while, supply has been severely disrupted by coronavirus closures and other containment measures, particularly in Peru and Mexico. The Silver Institute earlier this month put the expected drop in mine production at 7% for 2020, even after recent restarts. The issues go beyond the pandemic. Output has been trending lower in recent years, with large primary-silver mines aging and new ones holding less of what is one of the world’s rarest metals. Silver is usually a byproduct, meaning most production comes from mines that primarily dig out zinc, lead, copper or gold. That’s good news for miners like Mexico’s Fresnillo Plc, with large primary silver operations. Despite marginal increases expected from 2021, rivals can’t simply crank up production in response to higher prices. At a time of tight exploration budgets, a little shiny silver can’t make up for plenty of lackluster zinc.Comparing silver with gold suggests the rally has further to run. The silver-gold price ratio, currently around 1.2%, is edging closer to its long-term average of around 1.5%, according to analyst Vivek Dhar at Commonwealth Bank of Australia. He points out previous sharp run-ups in silver have seen the ratio climb to 2.2% or 2.4 before retreating%. That leaves room for silver to keep shining. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Clara Ferreira Marques is a Bloomberg Opinion columnist covering commodities and environmental, social and governance issues. Previously, she was an associate editor for Reuters Breakingviews, and editor and correspondent for Reuters in Singapore, India, the U.K., Italy and Russia.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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

Beyond Meat Inc. (BYND) has announced a new veggie burger which will be produced locally in Canada. Made with simple, plant-based ingredients without GMOs, the Beyond Burger is designed to meet, if not exceed, the nutritional profile of its animal protein equivalent- and boasts 35% less saturated fat.The California-based vegan brand says that its newest burger offers 20g of protein derived from “simple, plant-based ingredients like peas, mung beans, and rice, and features marbling made from cocoa butter that is designed to melt and tenderize like beef.”In a July 22 press release, Beyond Meat CEO Ethan Brown said, “We look forward to providing the Canadian consumer with our latest burger iteration and to furthering our commitment to this important market by investing in local production.” He added, “Our process of rapid and relentless innovation in service of the consumer, and making investments in the markets we serve, are key pillars in our company’s strategy to provide delicious and nutritious plant-based protein with a lower environmental footprint.”Meanwhile, Beyond Meat has expanded its geographical footprint into China this past April, with its menu items being available at 4,200 Starbucks locations. Earlier this month, the company launched its food products- Beyond Beef, Beyond Burger, and Beyond Sausage in Brazil at 19 Sao Paulo locations through the retail chain, St. Marche.“Our Brazil market entry marks an important step in furthering our mission of increasing accessibility to plant-based meat globally. As the third-largest market in the world in terms of animal meat consumption, Brazil offers significant opportunity for plant-based meat adoption,” said Brown, in a July 15 company news release.Bernstein analyst Alexia Howard says that according to her estimates, BYND will record a sales increase of 52% for Q2 for about $102 million, which is well below the 141% year-over-year gain Beyond Meat reported in Q1. She noted, “This significant slowdown in sales growth could shock some retail investors, who tend to move the stock.Howard added, “Beyond Meat’s strong sales velocities may provide a high barrier to entry for other brands into the refrigerated section of the store which could limit competition.” The analyst reiterated a Hold rating on the stock and raised her price target from $118 to $133, which implies 3% upside potential.Also, Citigroup analyst Wendy Nicholson anticipates “near-term pressure as a result of its exposure to the foodservice segment,” in addition to “longer-term pressure as the [alternative meat] category becomes more competitive.” She assigned a Sell rating on the shares and set her price target at $123 (5% downside potential).Beyond Meat’s stock is up 72% year-to-date. The Moderate Sell analyst consensus breaks down into 2 Buy ratings versus 5 Hold ratings and 6 Sell ratings. The $112.38 average price target suggests 13% downside potential for the shares in the coming 12 months. (See Beyond Meat’s stock analysis on TipRanks).Related News: KFC Wants To Bring Lab-Grown Meat To Its Fast Food Chain Beyond Meat Shares Rise On Sale Of Plant-Based Meat In Brazil Costco June Sales Beat Estimates As Shoppers Go Online; Top Analyst Raises PT More recent articles from Smarter Analyst: * Microsoft Plans To Become Carbon Neutral By 2030 * Delta Air Lines: Under the Surface Improvements * Facebook Forms Teams To Search For AI-Programmed Racial Biases * Spotify Climbs 5% In Pre-Market On Multi-Year License Agreement With Universal Music

from Yahoo Finance https://ift.tt/3jDQCjR