Early in the COVID-19 pandemic, when America’s frontline medical workers were desperate to get a hold of crucial medical gear, a Texas-based mobile health company paid roughly $500,000 for 100,000 antibody test kits from China—the only place at the time that was selling these much needed products. But the kits, which would have been used to…
Chinese Company Sued in Texas Over 100,000 Allegedly Defective COVID-19 Tests
June 2, 2022
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Follow the ‘Smart Money’? If Only They Could Agree
Commentary The S&P 500 index ended May flat, despite massive volatility in the public markets throughout the month amidst increasing angst around slowing economic growth and risks of runaway inflation. The U.S. economy is on shaky ground. The specter of rising rates, weak consumer sentiment, slowing economic growth, and inflation have severely dampened risk appetite…
China’s Foreign Exchange Reserves Fell for 4 Consecutive Months, With Record Decline in April
June 2, 2022
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In the first four months of this year, China’s foreign exchange reserves continued to decline by more than $100 billion. The decline in April was the biggest drop since November 2016 nearly five and a half years ago. According to the China Administration of Foreign Exchange, from the end of December last year to the…
Delta Hikes Q2 Revenue Outlook on Sharply Higher Airfares
To hear it from Delta Air Lines, happy days are here again, with travelers gladly paying sharply higher fares just to get on an airplane and go somewhere this summer. Delta said Wednesday that it expects second-quarter revenue will be back to pre-pandemic 2019 levels, even with fewer flights. The airline said revenue per seat…
Why This Netflix Analyst Is Cautious Despite Strong Debut of ‘Stranger Things’ Season 4
Netflix, Inc.’s “Stranger Things” season 4 made a strong debut, but this does not signal a turnaround in the fortunes of the streaming giant, according to an analyst at KeyBanc Capital Markets. The Netflix Analyst Brandon Nispel maintained a Sector Weight rating on Netflix shares. The Netflix Thesis “Stranger Things” represented Netflix’s strongest debut, with 286.8…
3 Reasons the S&P 500 May Avoid a June Swoon
The first five months of 2022 haven’t been kind to the SPDR S&P 500 ETF Trust. Unfortunately, the month of June hasn’t historically been a strong month for stock prices, but LPL Financial Chief Market Strategist Ryan Detrick said this week that there’s reason for optimism that investors can avoid a June swoon. Not only…
Noted Tesla Analyst Sees Auto Pricing Power Shift From Dealers Toward Suppliers
Long-lasting global auto semiconductor chip shortages could ease sooner than expected on the back of strong foundry shipments, consumer electronics slowdown and China re-opening, Morgan Stanley analyst Adam Jonas said on Tuesday. What Happened The analyst who tracks automakers like Tesla Inc and Rivian Automotive Inc said that the new and used car prices are expected to enter…
BofA Picks Nvidia As Top Pick; Expresses Bullishness on Marvell, AMD, ON Semiconductor
BofA analyst Vivek Arya believes chipmaker Nvidia Corp could benefit from growth in several areas. Arya chose Nvidia as his top large-cap sector pick. Nvidia and fellow semiconductor businesses Marvell Technology, Inc and Advanced Micro Devices, Inc, can all immensely benefit from the continued growth in cloud computing, among other factors, Arya said. Arya also chose ON Semiconductor Corp as his top small-…
Australian Housing Market Softens Because of Interest Rate Rises
Australian national house prices have dropped for the first time in nearly two years as economists said rising interest rates started to impact the housing market. The CoreLogic home value index dipped by 0.1 percent in May, the first fall recorded since September 2020. This was attributed to the monthly losses in Sydney and Melbourne-Australia’s…
Amazon.com Says Unfairly Targeted by US Antitrust Bill
WASHINGTON—Big tech has launched a media blitz aimed at derailing one of the most ground-breaking bipartisan bills in the U.S. that would bar tech companies, like Amazon.com Inc, from giving preference to their own businesses on their websites. Amazon lambasted the bill on Wednesday saying in a blog post that the bill “jeopardizes two of…
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