Oil seems to have caught a bid last week, posting its first consecutive three day advance since the uptrend was compromised. It actually set a hammer on the weekly after four consecutive weekly declines. Price needs to reclaim the mid-way point to the established range at $10.05 USO to neutralize the decline and confirm an end to the downtrend. CVX still remains best in show.
Early movers: AGN, DAL, BID, TSLA, BRK, GOOGL, AMZN & more Allergan — The drugmaker reported adjusted quarterly profit of $3.35 per share, and revenue of just below $3.7 billion. Allergan reported the sale of its Anda drug distribution business to Teva as a discontinued operation for the most recent quarter, something many analysts did not include in their estimates. On that basis, earnings would be slightly above forecasts and revenue very slightly below. Delta Air Lines — The airline experienced a nationwide computer system outage that has grounded all its flights, due to an overnight power outage in Atlanta. Sotheby's — The auction house earned an adjusted $1.51 per share for its latest quarter, well above estimates of $1.05 a share. Revenue also beat forecasts, despite lower sales in the global art market. Tyson Foods — The poultry, beef, and pork producer earned an adjusted $1.21 per share for its latest quarter, beating estimates of $1.06 a share. Revenue beat estimates, as well, on strong sales across all of Tyson's categories. Berkshire Hathaway — Berkshire reported quarterly profit of $3,042 per class A share, above estimates of $2910.80 per share. The Warren Buffet-controlled company's revenue did fall short of Street projections, however. Berkshire's overall results were helped by investment gains. Tesla Motors — Tesla said it would need $1.1 billion in cash for the third quarter for building its gigafactory and other needs. That amount represents about a third of the cash currently on hand. Amazon.com — Amazon's Japan offices were raided by antitrust regulators, according to the Nikkei business daily. The paper said Amazon Japan is suspected of pressuring retailers to give it more favorable terms than they offer on other online retail sites. Novartis — The drugmaker released results from a clinical trial of its new asthma pill which showed promising results. The pill — the first new one for asthma in decades — could be filed for regulatory approval by 2019, according to the company. Alphabet — Alphabet lost executive Chris Urmson from its Google unit's self-driving car project. Urmson did not specify what he would be doing next after 7 1/2 years on the project, but said he was "ready for a fresh challenge." Time Warner — Time Warner's Warner Brothers unit has sold the commercial TV rights to the eight "Harry Potter" movies to Comcast's NBCUniversal, which will air primarily on the USA and SyFy channels. Separately, the Warner Brothers movie "Suicide Squad" came in first at the weekend box office and smashed August records despite negative reviews. Mattress Firm — Mattress Firm will be bought by African retailer Steinhoff International for $2.4 billion or $64 per share. That's more than double the mattress retailer's Friday closing price of $29.74. Wal-Mart — Wal-Mart will announced its purchase of online retailer Jet.com today, according to Recode. The Wall Street Journal had reported last week that a deal was close and that the price was likely to be about $3 billion. Intercontinental Hotels — Intercontinental is not being considered for a takeover by China's Anbang, according to a spokesperson for the insurance company. London's Sunday Times had reported that Anbang was in talks with bankers about an offer to buy the hotel operator. Vail Resorts — Vail Resorts bought Canadian resort operator Whistler Blackcomb for about $1.1 billion.
Rumors of freeze talks are starting to circulate again in the media. Should give oil the support it needs to go higher in the short term. You can almost set your watch by these freeze rumors.
Damn TSN so strong. Let's see if TSLA finally starts collapsing. re AMZN: Doesn't everyone try to get the best deals for themselves?
$40 is critical for the world economy. The powers that be will move earth and sky to peg oil above $40 even if economics state otherwise. The whole commodity trade has been based in groups. They target different subsets. Come 2017, I am sure they'll target oil pushing it close to $60. Pseudo-economics at its finest. Is it representative of fundamentals? No. But in this dam age, who cares? No one does.
Another good read. Forbes is actually releasing good articles as of late -- objective, precise and free of BS. I am sure that will change, unfortunately. The question is: if automation is set to change how the world economy operates, will the job replacement cycle be swift and big enough to house displaced workers? And given the perilous state of the world economy, can the current economy sustain such a colossal change? -------------------- Why Everyone Must Get Ready For The 4th Industrial Revolution First came steam and water power; then electricity and assembly lines; then computerization… So what comes next? Some call it the fourth industrial revolution, or industry 4.0, but whatever you call it, it represents the combination of cyber-physical systems, the Internet of Things, and the Internet of Systems. In short, it is the idea of smart factories in which machines are augmented with web connectivity and connected to a system that can visualize the entire production chain and make decisions on its own. And it’s well on its way and will change most of our jobs. Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, has published a book entitled The Fourth Industrial Revolution in which he describes how this fourth revolution is fundamentally different from the previous three, which were characterized mainly by advances in technology. In this fourth revolution, we are facing a range of new technologies that combine the physical, digital and biological worlds. These new technologies will impact all disciplines, economies and industries, and even challenge our ideas about what it means to be human. For example, as automation increases, computers and machines will replace workers across a vast spectrum of industries, from drivers to accountants and estate agents to insurance agents. By one estimate, as many as 47 percent of U.S. jobs are at risk from automation. http://www.forbes.com/sites/bernard...y-for-4th-industrial-revolution/#54110a2279c9
With the media set as it is, always. Whatever happened to Matt Taibbi and the Rolling Stones coverage of the financial crisis and today's ongoing shady financial concoctions? They were shut too. I guess you cant dispel too much of a good story repeatedly. Every now and then there is a brave soul that publishes a good story. How those story slide past the chief editor is beyond me. I guess you have to create the allusion of balance when there is none.
gl tonight @Ken34 ER after today's close: $OPK $ENDP $MXL $TWLO $LC $WBMD $HTZ $SINA $RAX $MTW $MCHP $BOJA $IPHI $VSLR ER before the open tomorrow: $VRX $COH $W $NCLH $GWPH $INCY $RRGB $WWAV $LNG $AMAG $LGIH $CHTR $TTNP $IONS
$OPK , EPS beats .03c vs .00c REV Beats 357M vs 324M $TWLO EPS Beats (.08c) vs (.15c) Rev Beats 64.5M vs 58.2M OPK currently around $10.65 after hours TWLO currently hovering around $43 after hours phew, i cant wait for the open tommorow.
This is what to watch Tuesday A dash of earnings reports, wholesale trade and productivity and costs are highlights of Tuesday morning, as traders watch to see if oil could be a positive influence for stocks. Stocks diverged from oil Monday, as crude rallied hard on news of an OPEC meeting in late September. OPEC confirmed it would meet on the sidelines of an energy conference in Algeria. Speculation circulated that the cartel would discuss production bands, though OPEC is not expected by analysts to do much more than study its options — unless oil plunges again. West Texas Intermediate crude rose nearly 3 percent Monday to $43.02 per barrel, away from the danger zone of $40, which is viewed as a spot where oil becomes a real weight for stocks. Crude briefly entered a bear market last week, declining 20 percent from its recent high.
