Category Archive: Finance
Transocean Announces Agreement To Acquire Ocean Rig For $2.7b Including Debt
Transocean (RIG) and Ocean Rig UDW Inc. (ORIG) announced that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7B, inclusive of Ocean Rig’s net debt.The transaction consideration is comprised of 1.6128 newly issued shares of Transocean plus $12.75 in […]
Nike’s Kaepernick Ad Has Cost The Company Over $3 Billion So Far
Since announcing their new advertising campaign will be led by Colin Kaepernick, the social media backlash has dominated the virtue-signaling efforts we presume they hoped for. With images of Nike apparel and footwear being burned and real sacrifice being discussed, it appears investors are growing disillusioned as NFL fans as Nike shares are down 2.4% in the pre-market. Setting […]
Fundamentally Speaking: Q2-Earnings Review & Market Outlook
With the markets closed yesterday, there is little to update you on with respect to the technical backdrop from this weekend’s missive. However, this is a good opportunity to review the fundamentals as Q2-earnings season comes to a close. Not surprisingly, the cuts to corporate tax rates in December led to a surge in quarterly earnings numbers. […]
Weak ISM Manufacturing Survey To Curb EUR/USD Losses
Updates to the ISM Manufacturing survey may curb the recent selloff in EUR/USD as the index is expected to narrow to 57.6 from 58.1 in July. Another downtick in business sentiment may drag on the U.S. dollar as it dampens the outlook for growth and inflation, and a dismal development may cast doubts for four rate-hikes in 2018 as […]
Emerging Markets Suffer Fresh Blow As South Africa Falls Into First Recession Since 2009
Well, South Africa is in a recession. Q2 GDP fell an annualized 0.7% QoQ, missing estimates and confounding all but one economist surveyed by Bloomberg ahead of the report. The economy contracted by 2.6% in the first quarter. This is the first recession since 2009 and it marks a rather inauspicious start for Cyril Ramaphosa. (Bloomberg) […]
DAX (Germany) Creating Influential Topping Pattern?
This chart looks at the DAX index from Germany over the past 20-years. As mentioned above, even though this important index has traded sideways for the past 18-months, its long-term trend remains up. While the DAX has been trading sideways for the past year and a half, it could be creating a head & shoulders topping pattern […]
Tropical Storm Gordon Trumps Other Concerns
Tropical Storm Gordon is driving the cost of West Texas Intermediate (WTI) Crude oil above Brent Crude oil and above most other commodities that are being held back by dollar strength and trade war fears, and talk of rising OPEC oil production. The storm, that we warned about last week, is now taken center stage […]
Is It Too Late To Buy Salesforce Stock?
Salesforce (NYSE:CRM) has gained nearly 60% in the past year alone, and its performance is even more impressive on a longer time frame. Over the past decade, investors in Salesforce have gained a stratospheric 1,010%, versus a far more modest cumulative gain of 127% for the S&P 500 index in the same period. CRM data […]
Bitcoin Daily Forecast – Tuesday, September 4
BTC/USD The Bitcoin markets rallied during the thin trading session on Monday, as the Americans were away for the Labor Day holiday. However, when I look at this chart I see a downtrend line just above that I think the market will test soon. Because of this, I think the next couple of days could […]
Indian Indices End Volatile Day In The Red; IT Stocks Buck Trend
After opening the day in green, share markets in India witnessed volatile trading activity throughout the day and ended the day flat. Sectoral indices ended the day mixed, with stocks in the telecom sector leading the gains, while stocks in the consumer durables sector lost the most. At the closing bell, the BSE Sensex stood lower by 155 points (down 0.4%) and the NSE […]
