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Say It With Music - A Hundred Unique Playlists
Over the years I have thoroughly enjoyed throwing together playlists for different occasions (making coffee, working out, weddings, seasons, etc.) and thought I'd share! Please let me know your thoughts, favourite mixes, as well as recommendations for future playlists. All feedback is welcome! Hope you enjoy them: That Weekend Feeling Skip to the good bit; weekend grooves to wave away any weekday blues. Awesome Mix: Ultimate Edition (Mixtape) A great hero, named Kevin Bacon, once taught an entire city full of people with sticks up their butts that, dancing, well, is the greatest thing there is. The legend of Footloose comes alive with Awesome Mix: Ultimate Edition - Songs from and inspired by the Guardians of the Galaxy series. Morning Motivation: Steal Some Sunshine Soak up the sun with energetic jams and breezy classics! I'd Drink To That: Party Playlist Mix it up with a party playlist to keep the night buzzing. I'd Sing To That: Carpool Karaoke Pack up and take those pipes on a roadtrip! The catchy. The memorable. Just Jams 🎧 Nothing but jams to fill a pair of headphones or stadium. Brendan's Listen Local Funky & Thumpy! Some of my favourite energetic jams, classics, and BBQ party starters from our local Australian & New Zealand artists. Friday Fire It's Friday! Friends. Family. Fun. Groovin' The Brew Nothing but rockin' party grooves on tap. Diverse Pop Sounds It's pop, but not as you know it. Break Thru Ear Candy. Sunday Sesh Beers & bangers on a weekend! Run To Paradise Set up goals, and knock them down with an energetic running playlist. Summer Daze The heat is on with a playlist of crisp summer tunes. Autumn Mix: Volume 1 A breezy & brilliant playlist for the ever-changing Autumn seasons. Chilled Pop Soft, chilled winter pop songs. Warm Tunes Warm songs of Spring, like a comforting embrace. A Mid-Summer Night's Drink 🍻 Lord, what fun these mortals be! Wind Down 🌚 When the night winds down, so does some great music. 90's Baby! 📼 It is the sound of the roller disco, BMX bike track and arcade! The Hip Hip Hop Only the hippest of the hip. My modern and classic hip hop favourites. Indie Bops: It's ALT Good Get your alternative bounce on. Not Your Final Form: A Workout Playlist All the other licks with the pumped up kicks to keep you going during a workout. My favourites and a few other choice tunes for pushing harder, faster, stronger. Easy On The Ears Easy, Easy, Easybeats. Life Is Good ☀️ Today is gonna be a good day. Dial M For Music Deep, cathartic music. JOY Smile. Vibe Hard Get into the zone, and vibe-out to infectious tunes! Rock & Roll Never Dies Who says rock & roll is dead? Commercial radio? It's always been around; you've just got to roll with it and look harder. Get your kicks! Brainfood Introspective acoustic, calming strings, uplifting anthems, and a touch of nature. Food for the brain, and perfect background noise for studies. Game Night 🎲 For every occasion... casino, tabletop, videogames; a soundtrack to a brilliant game night! Sizzlers: BBQ Playlist 🍔 Fire up the burner and the anthems with a barbeque playlist hotter than the bright ball in the sky. Kickstart My Heart: Classic Rock Radio Rocking all over the world. Rush Hour Grinding Gears. Riff Raff: Party Rock Some rowdy rock to turn up the night. RE : FRESH 🍹 SUPERDOPE. Piña colada's and Caribbean Rum. The Driver There's a voice in my head that drives my heel. Country Road Might as well cruise. Might as well banjo. Born to be Wild Life's an adventure; you can't be tamed. Night Moves: Dancing In The Moonlight Unwind with the moonbeams. Night drives & night lives. Funk Right Off Get Funk'd. Rambling Roses 💐 Beauty and Love are as body and soul. Beauty is the mine, Love is the diamond. Sweat. Reset. Whatever it takes. 'Cause you love the adrenaline in your veins. Power Pop: Marathon Power pop to push and electrify a workout. Cool Beans: Coffee Playlist Recharge with some warm tunes. Kitchen Crooners 🎀 Now we're cooking! Now We're Cooking! Tasty tunes for the Kitchen. Pool Party Dive in to great poolside swing. Inspiration 💡 Takes Flight Reach for the Sky! Going Places Always push forward. First 💍 Songs for special days. DisNeat - Taking The Mickey Nothing but Disney favourites. Road Trip: Spinning Wheels Hear the call for adventure and hit the road. Guilty Pleasures 🍨 You like the Grease soundtrack? Word. Catchy AF POP Pop that bops. Essentials and the catchiest of the catchy. Acoustica Stripped Back. Playlist + Chill Cool off with some chilled beats and sweet acoustic. Making Waves Unwind with breathy, breezy songs perfect for a walk on the beach. The Playlist Of The Decade (New Years Eve) We welcomed 2020 with the ultimate party playlist jam-packed with familiar throwbacks and modern favourites from the 2010's! Good times! Rhythm Heaven Step up and dance. Sax on the Beach 🎷 Gratuitous? Nah! An instrument to elevate a song from good to great! BedroX 🔥 Sparks. Pump It Up: The Playlist of Champions 🏆 Winner winner, chicken dinner. Retro Rewind Twist & shout to killer Jukebox Classics. Classic Se7ens Nothing but 70's favourites. Great Eight's Nothing but 80's Favourites. Noughty & Nice Nothing but great 00's Throwbacks. The Best Playlist Never Heard It's unheard of! Best Songs You Might Have Missed Potentially slipped under the radar. Songs for Soundtracks 🎬 Royale with cheese. The Grand European Playlist About to take off! EPIC 🗡 Fortune & Glory! SUPERHOT VR : ROCK The champ is coming. SUPERHOT VR : HIP-HOP Kings never die. SUPERHOT VR : ACTION John Wick Schtick. Cowboy Bebop : Spike Spiegel Spike Spiegel is an ex-Syndicate goon and a bounty hunter aboard the Bebop. He is proficient in martial arts, zipcraft flying, and gunfights, but he also has comical and aloof sides of his personality. If there's three things he can't stand, it's kids, pets, and women with attitudes. Cowboy Bebop : Faye Valentine Faye Valentine is a coma survivor of over 50 years and she is trying to regain her memory. She got into a lot of debt upon entering this futuristic world, and she had to resort to a life of crime and hustling to survive... that is, until she decided to live on the Bebop and become a bounty hunter. Cowboy Bebop : Jet Black Jet Black is an ex-ISSP Special Forces Officer and the Captain of the Bebop. He is a bounty hunter and is called the "Black Dog" because once he sinks his teeth in he never lets go. Jet enjoys American Jazz music, taking care of Bonsai trees, and has a knack for investigative work. Cowboy Bebop : Radical Edward Edward is a net diver from Earth. Edward is a child prodigy for hacking and has an aptitude for anything mechanical, even though Edward has some eccentricities in other parts of her personality. For instance, Edward speaks in third person and sometimes behaves like a wild animal. At The Movies 🎟 Lights, camera, playlist. James Bond Classics 🍸 A martini, shaken, not stirred. The Word Is Bond 🍸 The world is not enough; but this playlist comes pretty close. Live Love LIVE Blistering live performances. Future Nostalgia Neo-swing, retro swagger; it's future nostalgia. B-Side Yourself Hidden Gems, Deep Cuts & Rarities. Punk'd You're Gonna Go Far, Kid. Building Houses: Hit By Hit Baby let's play house. Far ALT A playlist rocking that weird shit. Stay Home: The Safety Dance Stay safe out there. Day Tripper A playlist for a long drive - a day trip. In Tents Music For Camping. Roots Bluesy classics to strut to. All That Jazz Get jazzy on it. Focus Features Take a breather. Australiana Paradise. Drive Time Coast to coast. Songs for a spin. Stone Cold Classicals It's classically classic. Hall of Fame 💎 Songs for the career climbers and L.A. dreamers. Glitz & glam; all that jazz. This is Halloween Everybody Scream! It's Beginning to Sound A Lot Like Christmas! Christmas Classics. Just For Laughs 🎭 What a Joker! Two Nights In Tao🎙 Karaoke? There's a first time for everything. GAME Take control. Game On : Borderlands Psycho-delic CHOO CHOO THE PAIN TRAIN'S COMIN' Red Dead Redemption II Songs For Bloody Duels, Whiskey-Fueled Gambles, and Rolling Desert Plains. Energy Shot Keep animated with an energetic dose of catchy music! Party Fillers A background mix for any event. The Essential AC/DC AC/DC are an Australian rock band formed in Sydney in 1973 by Scottish-born brothers Malcolm and Angus Young. Although their music has been variously described as hard rock, blues rock, and heavy metal, the band themselves call it simply "rock and roll" The Essential One Republic OneRepublic is an American pop rock band formed in Colorado Springs, Colorado, in 2002. It consists of lead vocalist and multi-instrumentalist Ryan Tedder, guitarist Zach Filkins, guitarist Drew Brown, bassist and cellist Brent Kutzle, drummer Eddie Fisher and keyboardist Brian Willett. The Essential Shinedown Shinedown is an American rock band from Jacksonville, Florida, formed by singer Brent Smith in 2001. Shinedown has sold more than ten million records worldwide, and has had the most number one singles on the Billboard Mainstream Rock charts out of any band, with 16. The Essential Dua Lipa Dua Lipa is an English singer and songwriter. After working as a model, she signed with Warner Music Group in 2015 and released her self-titled debut album in 2017. The success of the singles helped her self-titled album become one of the most-streamed albums on Spotify. The Essential Preatures The Preatures are an Australian band from Sydney. The band was formed in 2010 and features Isabella 'Izzi' Manfredi on vocals/keyboards, Jack Moffitt (guitar), Thomas Champion (bass) and Luke Davison (drums). The band won the Vanda & Young Songwriting Competition with their song Is This How You Feel. The Essential Maroon 5 Maroon 5 is an American pop rock band from Los Angeles, California. It currently consists of lead vocalist Adam Levine, keyboardist and rhythm guitarist Jesse Carmichael, lead guitarist James Valentine, drummer Matt Flynn, keyboardist PJ Morton and multi-instrumentalist Sam Farrar. The Essential INXS INXS were an Australian rock band, formed in 1977 in Sydney. INXS was fronted by Hutchence, whose magnetic stage presence made him the focal point of the band. Initially known for their new wave/pop style, the band later developed a harder pub rock style that included funk and dance elements. The Essential Beatles The Beatles were an English rock band formed in Liverpool in 1960. The group, whose best-known line-up comprised John Lennon, Paul McCartney, George Harrison and Ringo Starr, are regarded as the most influential band of all time. The Beatles are the best-selling music act of all time. The Essential Volbeat Volbeat are a Danish rock band formed in Copenhagen in 2001. They play a fusion of rock and roll, heavy metal and rockabilly. Their current line-up consists of vocalist and guitarist Michael Poulsen, guitarist Rob Caggiano, drummer Jon Larsen and bassist Kaspar Boye Larsen. The Essential Chromeo Chromeo is a Canadian electro-funk duo from Montreal, formed in 2002 by musicians David "Dave 1" Macklovitch and Patrick "P-Thugg" Gemayel. Their sound draws from blue-eyed soul, dance music, rock, synth-pop, disco and funk. As of 2018, the band has released five studio albums. The Essential Queen Queen are a British rock band formed in London in 1970. Their classic line-up was Freddie Mercury (lead vocals, piano), Brian May (guitar, vocals), Roger Taylor (drums, vocals) and John Deacon (bass). With estimated record sales ranging from 170 million to 300 million, they are one of the biggest. The Essential Michael Jackson Michael Joseph Jackson (August 29, 1958 – June 25, 2009) was an American singer, songwriter, and dancer. Dubbed the "King of Pop", he is regarded as one of the most significant cultural figures of the 20th century. The Essential Brian Setzer Brian Robert Setzer (born April 10, 1959) is an American guitarist, singer, and songwriter. He found widespread success in the early 1980s with the 1950s-style rockabilly group Stray Cats, and revitalized his career in the early 1990s with his swing revival band, the Brian Setzer Orchestra. The Essential Florida Georgia Line Florida Georgia Line are an American country music duo consisting of vocalists Tyler Hubbard and Brian Kelley. Their 2012 debut single "Cruise" broke two major sales records: it was downloaded over seven million times, making it the first country song ever to receive the Diamond certification. The Essential KISS Kiss is an American rock band formed in New York City in January 1973 by Paul Stanley, Gene Simmons, Peter Criss, and Ace Frehley. Well known for its members' face paint and stage outfits, the group rose to prominence in the mid-to-late 1970s with its elaborate live performances. The Essential Sheppard Sheppard is an Australian indie pop band from Brisbane, formed in 2009. At the 2014 ARIA's ceremony, they were nominated for Album of the Year, Best Group, Best Independent Release, Best Pop Release, Song of the Year, Producer of the Year, and Best Video. The Essential Matchbox 20 Matchbox Twenty is an American rock band, formed in Orlando, Florida, in 1995. The group currently consists of Rob Thomas (lead vocals, guitar, keyboards), Brian Yale (bass guitar), Paul Doucette (drums, rhythm guitar, backing vocals), and Kyle Cook (lead guitar, vocals). The Essential Coldplay Coldplay are a British rock band that were formed in London in 1996 consisting of vocalist and pianist Chris Martin, guitarist Jonny Buckland, bassist Guy Berryman, and drummer Will Champion. Coldplay have sold more than 100 million records worldwide, making them one of the world's best-selling. The Essential Daughtry Daughtry is an American rock band formed and fronted by namesake Chris Daughtry, who was a finalist on the fifth season of American Idol. Their self-titled debut album was released in November 2006 and reached number one on the Billboard 200. To date, Daughtry has sold over 9 million albums. The Essential Black Eyed Peas The Black Eyed Peas are an American musical group, consisting of rapperswill.i.am*, apl.de.ap, Taboo, J. Rey Soul and singer Fergie. Originally an alternative hip hop group, they subsequently refashioned themselves as a more marketable pop-rap act and have become best-selling artists.*
Big Double D Tiddies- Selections from the President’s business history and why your puts wont print.
Tl;dr just skip to the last paragraph. Consider this background due diligence because the market is closed. Most of you retards lack an historical perspective on current events, so I’m writing this to give you the bigger picture on the casino and stock market history of the president. If you’re going to waste money it should be spent on recreational drugs and strippers- it stimulates the economy and probably does less long term damage to your net worth. But since this million retard army persists in making dumb bets, I will give you some background about the President because to most of you, the only Grey Lady you know is your own mother. On May 8th, 2019, the president tweeted, “You always wanted to show losses for tax purposes. . . . [...] and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!” The leader of the free world bragged about losing money, said it was financially advantageous, said it was fun, and also said it was fake. [The president had some successes- but no one goes on this sub for incremental or sustainable traditional business wins. So as to not sound biased, I will include some of them. Feel free to skip this part. His first “deal” was a purchase by his father in Trump’s senior year of high school. Purchased for $5.6 million plus half a million in renovations, it sold eight years later for $6.75 million. Result- a racial discrimination lawsuit and a $650,000 profit. In “The Art of the Deal”, the president claimed this was a $6 million profit. In 1970, Paris is Out, a Broadway comedy, lost him $70,000- inflation adjusted about half a million dollars today. In 1971, he was made president of the 14,000 apartment owning company, changed the name to the Trump Organization, and was again sued for racial discrimination. In 1978 he was the agent for Penn Central’s sale of the current Javits Center, for which he was paid a commission, and then became the face of the redevelopment of the Commodore Hotel. A $70 million loan guaranteed by his father and Hyatt Hotels, in addition to $1 million revolving credit from Chase bank, financed the renovation- which obtained a 40 year tax abatement. He then went on to build Trump Plaza, which he sold as individually owned apartments- known as a cooperative, in 1981. In 1986, he successfully renovated Wollman Ice Rink on time and three quarters of a million dollars under budget.] In 1980 building site preparations began at the Trump Tower location. The previous building had some artistically significant architectural details, which were promised to the Metropolitan Museum of Art, and instead were destroyed. The demolition crew was a group of 200 strong "Polish Brigade" immigrants who worked 12 hour shifts. By using illegal labor, the president was able to avoid contributions to the pension fund and union worker welfare fund- the workers were paid $4-$5 per hour. Details are sealed after 16 years in court. Construction began in 1982 on Trump Plaza in Atlantic City, and in the first six months of opening in 1985, made only $144,000 in profit. In 1986 he bought out his partner, Harrahs, for $70 million. During this time he also purchased Trump Marina (ne Castle) for $325 million; this was the property at which his father bought $3.5 million in casino chips and never used, and which he was fined for making an illegal casino loan. In 1988, he bought the Plaza Hotel in New York for $390 million. He said in The New York Times, "For the first time in my life, I have knowingly made a deal that was not economic – for I can never justify the price I paid, no matter how successful the Plaza becomes." Another $50 million in renovations caused the total debt service to be too expensive; the prepackaged bankruptcy resulted in a $250 million dollar loss for creditors and a lowered interest rate in exchange for 49% of the hotel. Three years later the Saudis would buy a controlling stake. Trump Plaza Casino followed the same game plan as the Plaza Hotel: he owed $250 million and conducted a prepackaged bankruptcy due to sky high debt service. The bankruptcy converted the $250 million into $300 million longer term debt, then went on to conduct a $42 million dollar expansion in 1993, and a $48 million dollar expansion in 1995. It closed in 2018 and the property was foreclosed on by Carl Ichan. In 1988, he bought and renovated the Taj Mahal for nearly a billion dollars, financed with junk bonds at 14%. When he couldn’t make the payments, the property was again put into a prepackaged bankruptcy. Ironically, the Taj Mahal may have hastened the downfall of other Trump properties by cannibalizing their customers. In the end, the billion dollar casino was sold to the bankruptcy administrator for $890 million, named “Trump Entertainment Resorts”, itself filing for bankruptcy in 2004, 2009, and 2014. His casino ventures show a reliable pattern of using other people’s money to buy and build, then forcing investors to take a loss while the prepackaged bankruptcies allowed him to keep the assets and the profits. His supporters might say this is common in the casino industry, which isn't true, but he shows this pattern of behavior in the stock market as well. In 1987, at the height of his casino activity, he started a new scam. “He would acquire shares in a company with borrowed money, suggest publicly that he was contemplating buying enough to become a majority owner, then quietly sell on the resulting rise in the stock price…” Media reports at the time claimed his pump and dump gained $55 million; government documents showed his stake was smaller and profits less than $11 million. This one trick pony would work a few times between 1987 and 1989, including in companies such as Gillette, Hilton, and Federated Department stores. By 1989, Wall Street was wise and left him bag holding an American Airlines takeover bid, resulting in a $35 million loss. More recently WSB’ers will no doubt remember the Dead Sea levels of saltiness caused by accusations of pumping and dumping last year’s trade war with China, and the resulting cycle of market agitations on threats, bad news, counter threats, trade talks, and deals. Finally, Covid-19 has given us hydrochlorique panaceas, and other pump and dumps we’re still learning about. Tl;dr The president has shown a persistent penchant for profligacy using other people’s money. Most recently to use the federal government to price gouge PPE and to attempt to have his signature on stimulus checks- but he’s been doing it for 40 years. With JayPau, he’s found a real life infinite money hack, and everything I’ve written is to prove to you he isn’t afraid to use it. Keynes said, “the market can stay irrational longer than you can stay solvent” but what we’re seeing today isn’t irrationality, it is the biggest pump and stop stock scam infinite printing we’ve ever seen from a guy who brags about pump and dumps and bankruptcy filings. Your puts wont print, Trump is betting his reelection on it, and the all-in is infinite. Positions- holding all cash. Sell in May and go fuck yourself.
Today's Pre-Market Movers & News [Monday, March 30th, 2020]
Good morning traders and investors of the wallstreetbets sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures were pointing to a modest decline for the Dow Jones Industrial Average at Monday’s open after President Donald Trump extended national social distancing guidelines to April 30. The Dow, which closed 4% lower Friday, did soar 12.8% for the week, logging its best weekly gain since 1938 and raising questions about whether blue chips have bottomed. However, heading into Monday’s session, the Dow was still nearly 27% off last month’s record highs. The yield on the 10-year Treasury remained below 1% early Monday. U.S. oil prices sank below $20 per barrel, near 18-year lows hit earlier this month.
On Sunday, mortgage bankers warned that Federal Reserve mortgage purchases are unbalancing the home lending market. In addition to the Fed’s extraordinary no limit fixed-income purchases, Wall Street analysts and economists said it would not be out of the question to see the central bank take for the first time ever a passive interest in the performance of the stock market.
Preparing the nation for a death toll that could exceed 100,000 from the coronavirus, Trump on Sunday walked back his previous remarks about wanting to reopen the country for business by Easter. In continuing social distancing until the end of next month, the president said, “Nothing would be worse than declaring victory before the victory has been won.” Earlier on Sunday, White House health advisor Dr. Anthony Fauci said the country could see up to 200,000 deaths and millions of infections. However, he also cautioned that those numbers are based on outbreak modeling and nothing is certain.
The U.S., which has the most known coronavirus infections in the world, saw confirmed cases jump to over 143,000 with 2,513 deaths, according to Johns Hopkins University data. New York has about 40% of those cases and fatalities. A field hospital has been set up inside New York’s Central Park to treat coronavirus patients. Abbott Laboratories, which received FDA emergency use authorization on Friday for a test that can detect coronavirus in 5 minutes, was praised by Trump. “Abbott has stated that they will begin delivering 50,000 tests each day, starting this week,” he said. Abbott shares were soaring about 8% in the premarket.
Global coronavirus cases increased to over 730,000 with 34,685 deaths and more than 149,000 recoveries. Italy, No. 2 to the U.S. in cases with about 97,700, has the worst death toll. Italy’s 10,779 fatalities are more than three times as many as China’s 3,308 deaths. Rounding out the top three, Spain just surpassed China in infections, with over 85,000 cases and more than double China’s death toll at 6,803. China, where the pandemic started in December, has the world’s fourth most known infections, nearing 82,200 cases. Germany is No. 5 in worldwide cases at about 62,400. It has 541 deaths.
Amazon warehouse workers in Staten Island, one of the five boroughs of New York City, plan to strike on Monday to call attention to what they claim is the lack of protections for employees. Chris Smalls, a management assistant and a lead organizer of the strike, told CNBC that workers at the fulfillment center known as JFK8, have grown increasingly concerned about coming into work after an employee tested positive for the coronavirus there last week. Amazon told CNBC that the company was supporting the individual in quarantine and asked anyone who was in contact with the worker to stay home with pay for two weeks. JFK8 remains open.
Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.
Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the coronavirus outbreak.
Sanofi (SNY), Regeneron Pharmaceuticals (REGN) – The drugmakers expanded a clinical trial of their rheumatoid arthritis drug Kevzara as a coronavirus treatment. The trial now includes patients outside the U.S., after beginning in America last week.
United Technologies (UTX), Raytheon (RTN) – The defense contractors have received all regulatory approvals for their all-stock merger, and expect to close the deal prior to the open on Friday. United Technologies will be renamed Raytheon Technologies and trade under the ticker “RTX.” The Carrier and Otis businesses of United Technologies will become separate publicly traded companies, trading under ticker symbols “CARR” and “OTIS,” respectively.
La-Z-Boy (LZB) – La-Z-Boy furloughed 6,800 workers, cut the pay of senior management by 50%, and of salaried workers by 25%. The furniture maker also eliminated its June dividend and stopped its share repurchase program indefinitely.
Tegna (TGNA) – Tegna said it has held talks with two of four interested parties about their takeover proposals for the regional TV station operator. Those talks have stopped, however, due to the disruption caused by the coronavirus outbreak.
Jefferies (JEF) – Jefferies said its Chief Financial Officer Peg Broadbent has died from the coronavirus. The investment bank named Teri Gendron, the CFO of the company’s financial services arm, as Broadbent’s successor.
Gilead Sciences (GILD) – Gilead said it would stop taking individual emergency requests for its experimental coronavirus drug due to overwhelming demand.
Eldorado Resorts (ERI) – Eldorado’s deal to buy rival casino operator Caesars Entertainment (CZR) could be in danger, according to the New York Post. The paper said regulators have delayed their review of the $17.3 billion deal due to the virus outbreak, while the casino industry takes a hard hit from ongoing closures.
Novartis (NVS) – Novartis CEO Vas Narasimhan told a Swiss newspaper that its malaria drug hydroxychloroquine is the drugmaker’s biggest hope against COVID-19.
Papa John’s (PZZA) – Investor advisory firm ISS said retired basketball superstar Shaquille O’Neal should not be re-elected to the board of the pizza chain, according to a Bloomberg report. ISS said O’Neal skipped too many board meetings and that shareholders should vote against his re-election at the April 23 annual meeting.
Procter & Gamble (PG), Kimberly-Clark (KMB) – Jefferies upgraded both consumer products makers to “buy” from “hold,” noting that both are benefiting from the “pantry-loading” taking place due to the coronavirus outbreak.
Today's Pre-Market Movers & News [Monday, March 30th, 2020]
Good morning traders and investors of the StockMarket sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures were pointing to a modest decline for the Dow Jones Industrial Average at Monday’s open after President Donald Trump extended national social distancing guidelines to April 30. The Dow, which closed 4% lower Friday, did soar 12.8% for the week, logging its best weekly gain since 1938 and raising questions about whether blue chips have bottomed. However, heading into Monday’s session, the Dow was still nearly 27% off last month’s record highs. The yield on the 10-year Treasury remained below 1% early Monday. U.S. oil prices sank below $20 per barrel, near 18-year lows hit earlier this month.
On Sunday, mortgage bankers warned that Federal Reserve mortgage purchases are unbalancing the home lending market. In addition to the Fed’s extraordinary no limit fixed-income purchases, Wall Street analysts and economists said it would not be out of the question to see the central bank take for the first time ever a passive interest in the performance of the stock market.
Preparing the nation for a death toll that could exceed 100,000 from the coronavirus, Trump on Sunday walked back his previous remarks about wanting to reopen the country for business by Easter. In continuing social distancing until the end of next month, the president said, “Nothing would be worse than declaring victory before the victory has been won.” Earlier on Sunday, White House health advisor Dr. Anthony Fauci said the country could see up to 200,000 deaths and millions of infections. However, he also cautioned that those numbers are based on outbreak modeling and nothing is certain.
The U.S., which has the most known coronavirus infections in the world, saw confirmed cases jump to over 143,000 with 2,513 deaths, according to Johns Hopkins University data. New York has about 40% of those cases and fatalities. A field hospital has been set up inside New York’s Central Park to treat coronavirus patients. Abbott Laboratories, which received FDA emergency use authorization on Friday for a test that can detect coronavirus in 5 minutes, was praised by Trump. “Abbott has stated that they will begin delivering 50,000 tests each day, starting this week,” he said. Abbott shares were soaring about 8% in the premarket.
Global coronavirus cases increased to over 730,000 with 34,685 deaths and more than 149,000 recoveries. Italy, No. 2 to the U.S. in cases with about 97,700, has the worst death toll. Italy’s 10,779 fatalities are more than three times as many as China’s 3,308 deaths. Rounding out the top three, Spain just surpassed China in infections, with over 85,000 cases and more than double China’s death toll at 6,803. China, where the pandemic started in December, has the world’s fourth most known infections, nearing 82,200 cases. Germany is No. 5 in worldwide cases at about 62,400. It has 541 deaths.
Amazon warehouse workers in Staten Island, one of the five boroughs of New York City, plan to strike on Monday to call attention to what they claim is the lack of protections for employees. Chris Smalls, a management assistant and a lead organizer of the strike, told CNBC that workers at the fulfillment center known as JFK8, have grown increasingly concerned about coming into work after an employee tested positive for the coronavirus there last week. Amazon told CNBC that the company was supporting the individual in quarantine and asked anyone who was in contact with the worker to stay home with pay for two weeks. JFK8 remains open.
Johnson & Johnson (JNJ) – The company announced it has identified a lead COVID-19 vaccine candidate, and plans to begin phase 1 clinical trials by September at the latest. Its intention is to have the first batches of vaccine available for emergency use by January.
Cal-Maine Foods (CALM) – The nation’s largest egg producer reported quarterly earnings of 28 cents per share, 10 cents a share above estimates, Revenue also beat forecasts and Cal-Maine said it is not seeing any supply chain disruptions as a result of the coronavirus outbreak.
Sanofi (SNY), Regeneron Pharmaceuticals (REGN) – The drugmakers expanded a clinical trial of their rheumatoid arthritis drug Kevzara as a coronavirus treatment. The trial now includes patients outside the U.S., after beginning in America last week.
United Technologies (UTX), Raytheon (RTN) – The defense contractors have received all regulatory approvals for their all-stock merger, and expect to close the deal prior to the open on Friday. United Technologies will be renamed Raytheon Technologies and trade under the ticker “RTX.” The Carrier and Otis businesses of United Technologies will become separate publicly traded companies, trading under ticker symbols “CARR” and “OTIS,” respectively.
La-Z-Boy (LZB) – La-Z-Boy furloughed 6,800 workers, cut the pay of senior management by 50%, and of salaried workers by 25%. The furniture maker also eliminated its June dividend and stopped its share repurchase program indefinitely.
Tegna (TGNA) – Tegna said it has held talks with two of four interested parties about their takeover proposals for the regional TV station operator. Those talks have stopped, however, due to the disruption caused by the coronavirus outbreak.
Jefferies (JEF) – Jefferies said its Chief Financial Officer Peg Broadbent has died from the coronavirus. The investment bank named Teri Gendron, the CFO of the company’s financial services arm, as Broadbent’s successor.
Gilead Sciences (GILD) – Gilead said it would stop taking individual emergency requests for its experimental coronavirus drug due to overwhelming demand.
Eldorado Resorts (ERI) – Eldorado’s deal to buy rival casino operator Caesars Entertainment (CZR) could be in danger, according to the New York Post. The paper said regulators have delayed their review of the $17.3 billion deal due to the virus outbreak, while the casino industry takes a hard hit from ongoing closures.
Novartis (NVS) – Novartis CEO Vas Narasimhan told a Swiss newspaper that its malaria drug hydroxychloroquine is the drugmaker’s biggest hope against COVID-19.
Papa John’s (PZZA) – Investor advisory firm ISS said retired basketball superstar Shaquille O’Neal should not be re-elected to the board of the pizza chain, according to a Bloomberg report. ISS said O’Neal skipped too many board meetings and that shareholders should vote against his re-election at the April 23 annual meeting.
Procter & Gamble (PG), Kimberly-Clark (KMB) – Jefferies upgraded both consumer products makers to “buy” from “hold,” noting that both are benefiting from the “pantry-loading” taking place due to the coronavirus outbreak.
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What is on everyone's radar for today's trading day ahead here at StockMarket?
I hope you all have an excellent trading day ahead today on this Monday, March 30th, 2020! :)
Today's Stock Market News [Monday, March 23rd, 2020]
Good morning traders and investors of the wallstreetbets sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures turned strongly positive Monday morning after the Federal Reserve pledged asset purchases with no limit to support markets. Dow futures hit their 5% “limit down” overnight, and were off 600-points at one stage Monday morning, as a massive coronavirus funding package failed a key Senate procedural vote Sunday. The Dow Jones Industrial Average tanked another 900 points or 4.5% on Friday, bringing the weekly decline to over 17% for the worst week since the 2008 financial crisis. Ahead of Monday’s session, the Dow was off more than 35% from last month’s record highs. The New York Stock Exchange’s trading floor will be close starting Monday. The NYSE will go to fully electronic trading. The 10-year Treasury yield, which popped back above 1% last week, was below that level early Monday.
Top-level White House and congressional negotiators burned the midnight oil over the now-nearly $2 trillion coronavirus rescue package. Democrats blocked the bill in Sunday’s vote, saying it did too much to bail out companies and not enough to help workers. Several GOP senators, including Rand Paul, who tested positive for the coronavirus, were not present to vote. Others, such as Mitt Romney, were in quarantine as a precaution. The Federal Reserve and Treasury are working on financing programs that could be worth $4 trillion. Goldman Sachs upgraded shares of Boeing, which is hoping for a bailout. Boeing stock has dropped 80% from recent highs on the dual crises of the outbreak and the grounding of its 737 Max.
The United States has the third most coronavirus cases in the world, with over 35,000 and 471 deaths, according to Johns Hopkins University data. More than half the U.S. cases are in New York, where the death toll increased to 153. Washington state has the second-most cases, with nearly 2,000 confirmed and 95 deaths. New Jersey, California and Illinois round out the top five states. President Donald Trump on Sunday activated the National Guard in New York, Washington state and California in order to combat the spread of the coronavirus. New York plans to run a clinical trial, beginning Tuesday, of a treatment regimen of antimalarial hydroxychloroquine and antibiotic azithromycin, a drug cocktail that has shown promise in fighting the coronavirus.
Global coronavirus cases topped 343,000, with 14,789 deaths and over 98,800 recoveries. China, where the outbreak started in December, still has the most cases at over 81,400. China’s 3,274 deaths are second to Italy’s 5,476 deaths. Italy is second in total cases at over 59,100. The U.S., Spain and Germany round out the top five countries. German Chancellor Angela Merkel went into quarantine over the weekend after contact with a doctor who tested positive for the virus. The German government is set to unveil major stimulus measures. Pressure mounts to cancel the Tokyo summer Olympics, set to begin at the end of July. Canada said it won’t send teams to compete. Local media reports indicate that Japanese Prime Minister Shinzo Abe is considering a delay.
Cisco Systems is committing $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley also initiates an investment blitz. 3M said it will supply New York and Seattle with a half-million N95 respirator masks to address the ongoing shortage of health-care equipment. Merck said it will supply New York City with a half-million masks. Chinese billionaire and Alibaba founder Jack Ma sent to Africa 5.4 million face masks, over 1 million testing kits, 40,000 sets of protective clothing and 60,000 protective face shields. BlackRock is committing $50 million in outbreak relief.
Boeing (BA) – Boeing was upgraded to “buy” from “neutral” at Goldman Sachs, which said Boeing will remain a going concern and that flight travel will be as popular as ever once COVID-19 is resolved.
Coca-Cola (KO) – Coca-Cola was upgraded to “overweight” from “neutral” at JPMorgan Chase, which points to rebound prospects post-COVID-19 and the idea that consensus estimates for revenue and profit are conservative.
Deere (DE) – The heavy equipment maker withdrew its financial outlook for 2020 due to the virus outbreak, and is temporarily shutting down some operations. It is continuing to operate in the U.S. and globally to the extent possible.
Amazon.com (AMZN) – Amazon is raising overtime pay for warehouse workers amid a surge in online shopping. Amazon’s move follows similar action from rival Walmart (WMT), which raised the minimum wage for e-commerce warehouse workers.
Danaher (DHR) – Danaher’s Cepheid unit received U.S. Food and Drug Administration approval for its rapid coronavirus diagnostic test, the first of its kind. The test can deliver results in about 45 minutes, compared to lab results which can take days.
Netflix (NFLX) – Netflix was upgraded to “outperform” from “neutral” at Baird, which thinks the video streaming service will benefit from at least 2 factors: more people at home due to the coronavirus outbreak, and acceleration of cord-cutting due to the lack of live sports on TV.
Apple (AAPL) – Apple dropped a two-device limit on online iPhone purchases, just days after instituting that limit. Apple brick-and-mortar stores outside China remain closed due to the coronavirus outbreak.
Occidental Petroleum (OXY) – Occidental is near a settlement with activist investor Carl Icahn, according to The Wall Street Journal. Under the proposed deal, two Icahn allies would receive seats on the Occidental board, and a third independent director would be mutually agreed upon by Icahn and Occidental.
MGM Resorts (MGM) – The casino operator named Bill Hornbuckle – the president of its international division – as acting chief executive officer. Jim Murren stepped down as chairman and CEO over the weekend, following last month’s announcement that Murren would vacate that position.
Best Buy (BBY) – The electronics retailer withdrew its financial guidance for the current quarter and the fiscal year, due to uncertainty related to the virus outbreak. It is also suspending all share buybacks and is shifting to curbside service only for its stores.
Tiffany (TIF) – French luxury goods maker LVMH denied last week’s reports that it is mulling buying shares of Tiffany on the open market, saying it is sticking with the takeover agreement signed in late 2019. Reports last week had said LVMH was considering open market purchases of Tiffany shares, since they are now selling for less than the agreed-upon takeover price.
Marriott (MAR), (HLT) – These and other hotel companies are placing tens of thousands of workers on furlough, as travel dries up in the midst of the coronavirus outbreak.
I am reminded of the Porfiriato period of Mexican History. (Pres. Trump Administration 2020 analysis)
Porfirio Diaz started out as a smooth talker and dealer, and survivor. (I am getting many things wrong, but want to shortcut to his last days.) He had a personality and certain social skills that worked for him and his situations and encounters. He gets old, the world is changing, he enables some part of his society to work with it, the younger generations, that he has nominal control over, some tangential relationship that he can relate to in some way ("I created that"). In his old age, and with the environment changing, he finds that his abilities only get him so far, he is his own worst enemy at times. So, we get to "Bone Spurs" of today, and I am seeing an interesting background that shows incompetence, born into wealth, New York City as an economic hub, Washington D.C. as an economic hub, patriotism, marketing, information distribution, failing upwards. Donald J. Trump came from a family background that had a grandfather as a pimp and selling to goldminers, valuing people as products and/or property and economic exploitation are notorious analogies for those lines of work. Then he fortuitously sells and moves to New York City before a crash. And dies shortly after. Don Trump's father, Fred, had an early experience of his father, but running the business empire for years was his mother. She apparently was the money-maker minded and took advantage of what was given to her to run solely without her husband. Fred Trump sees the "value people as part of business" thing his father did, and the "work hard and take advantage of what you got" side of business from his mother. According to Mary L. Trump's book, this feeds into the sociopath nature of the man. And why he held his eldest son to a high standard and to live to a certain way, for business, and for the family. Donald goes thru life with not much to drive him on, other then to show results. Putting in hard work was not explained to him. But using money to get what you want, is a great shortcut. And that is why he gets "the best people" to handle specific things in life. Compartmentalize your life in terms of these are my base needs, these are my family needs, these are my business needs, this is my image and what it needs. You create "departments" of one or more people who handle what needs to be done in those areas, and ideally, those are the best people at it. You try them out, see how they feel and work with you, and decide if you keep them around or use them. And if they are trouble, sue them, or pay them off. Paying someone to take his tests in school, is where it starts. Running errands to kick black people out of his family business, because he is a thug in personality. In the 1980's, television, and branching out of New York City, land development and business development, and getting shareholders together, selling them on an idea or concept, and something will happen. Bringing in foreign investment? Why not! Free, open country, let whoever wants to walk thru that door, come, and realize you put on the best show money can afford to butter them up, and are they willing to pay? Money is how we make this work. Details are for underlings to hash out. Do we like each other? Can we make a deal? Let's go. Jet setter, Don Trump, on tv, with his glamorous wife, gold plated casinos and hotels and resorts around the world. Trump is the name that means things are great. How do we know this? Because he is from New York City, the greatest city on the planet and he is successful there. How do we know he is successful? He has a motel there, named after him, and more around the world with his name. And all are doing fabulous. Media hype. Quick hits, lots of information, little depth. Just keep feeding the lines of how great Don Trump is to the world. Details? Well, lost a billion dollars, but that is if you count a certain way. Bankruptcy? Look, every business will declare bankruptcy now and then to restructure and organize debt and how things come in and go out. Dealing with real estate, property, multiple businesses, around the world, that means a lot of sources of income. Lot of people, businesses, and even organizations and governments that a world known brand name like Trump is. Make sure not to scrutinize some of these donors, or charities, and question how all this money and assets are coming and going. Department heads: Business, lawyers, best he can buy and who are willing to work with him. And some just want to exploit Trump or exploit a relationship with him. Family? That's the wife, and the wife should provide a child and look presentable to the public, for the business, the family. (Interesting that it is 3 kids, the daughter is the go-getter, the incest is cringeworthy, the racism and possible antisemitism somewhat mitigated by marriage to Jared Kushner, but then you see the social circle that his father is in, very similar to Trump's.) Divorce? It happens when you are rich and need that trophy wife. You get a younger one, anyways. Or younger looking. Plus, as a celebrity, women come into his life all the time, and he can do whatever he wants with them. Grab them by the .... And get his fixer to make them stay quiet. So Trump goes from fast forwarding thru "Blood Sport" to the fight scenes, to watching the business networks, and gleaning what he can from them, to learn business, since it is saying the right thing, sounding smart. Newspapers? He watches the regular news, gets "The Apprentice" since he has sold books on business and is a recognized world name/brand..., and starts finding himself in the social circles of celebrities and politicians. He finds them to be, the same kinds of people he meets in New York and high society. There are cliques of people, and some of these cliques line up politically, but many also line up with money. Can Trump buy in and join those cliques? Because he can find someone just as dumb with money to work him, and have his underlings find the ways to get rich.... The Republican Party values money and has plenty of low thought individuals who like to live the party lifestyle and just want to have fun, and not sweat the details, we can come to an agreement, later. For now, do what feels right. And money can always smooth things out. The Con Man gets himself the presidential nomination from the Republicans, because he did what he does best, say a lot of things, the right things, the things that feel good, that feel right. We don't need to worry about the details, right now, because we know we feel right about this. Don Trump is America, is the GOP. (I am reminded of the way Trump tests phrases before an audience, to see what gets a better reaction, and then riffs from that. So he is constantly sampling the audience with new talking points.) (I am wondering what happened next, my knowledge is not complete here. Because I am thinking there had to have been the meeting with Mitch McConnell, Reince Priebus, and some more politicians and money leaders, possibly even stock market related business folks. Because bluster gets you so far, and can be shown to be a house of cards. Why would the Republicans keep with Trump thru to nomination? They know their primary system is skewed and getting them into trouble [Marko Rubio, Ted Cruz], and letting Trump into that process was a roll of the dice, but seeing him achieving wins and having such a mic and camera presence.... There is likely the two sides of Trump, the one before the crowd, and the one where he has to sit and "listen." That could be what the GOP leadership thought they were getting, because he "played ball" and "toed the line" when asked to.) V.P. Joe Biden names Sen. Kamala Harris as his running mate. Camera goes on, Trump says: "Nasty woman." The mechanism for control and power in the U.S. government is Congress. They keep the lights on, the streets clear of hazards. The President comes and goes, and is the target by which "the people" can use for achieving or targeting derision. (Washington, Adams, Jefferson... Lincoln had to do something since partisan politics and valuing people as property had mixed with economics so strongly. Teddy Roosevelt may be one of the first "new style" of presidents since he decided to truly flex every tool at his disposal in the executive branch. And then Franklin becomes a mythic savior, with all his work that a Congress could not achieve.) 1980's, Reagan, becoming President is the next opportunity, and afterwards, have instant respect and money opportunities just present themselves to you all the time. Washington D.C. is all about money, and who can get access to it. Reagan, Bush and Jr, they leave office and the people they work with keep coming back with them. Cheney the most prime example. Trump gets some of these people in his team for his presidential campaign. Republicans are fine with checkered pasts, if they bother to investigate.... I guess, in a meandering way, what I am coming to is: Trump is the perfect embodiment of the Republican party in it's core, and that core of 26% of the US population, is this comfortable with xenophobia population, comfortable with misogyny, comfortable with the con because as long as you are doing what feels right,.... You have money, right? You can pay? Join my club.
What A Day: Give Earpiece A Chance by Sarah Lazarus & Crooked Media (09/29/20)
"I'm part of that community, and we love the man." - Eric Trump momentarily sending the LGBTQ community into deep despair
Ear Madness
The tension is palpable, the pundits are abuzz, and Facebook is blanketed with conspiracy theories about Joe Biden’s ear holes: We have arrived at the first 2020 presidential debate.
The first of three presidential debates will take place in Cleveland, OH, tonight at 9 p.m. ET, moderated by Fox News anchor Chris Wallace. Wallace has selected six general topics: the candidates' records, the Supreme Court, the coronavirus, the economy, race and violence in cities, and election integrity. “Race and violence” plays straight into Donald Trump’s campaign rhetoric, and the total exclusion of climate change seems like malpractice at best, but at least Wallace has also promised not to fact-check any of Trump’s lies.
Even with the benefit of those outrageous gifts, the Trump team seems, uh, less than confident about his readiness. Following Trump’s repeated attempts to manage expectations by baselessly suggesting that Biden would be on some kind of debate-enhancement drug, the Trump campaign today floated the dumb, recycled rumor that Biden would be wearing a secret earpiece (presumably because his Antifa-controlled brain implant is on the fritz). That conspiracy theory has proliferated unchecked on Facebook, and was even featured on the platform’s news tab. Another beautiful day in Zuckerberg’s Hellworld Funhouse!
Trump would of course rather talk about drug tests and earpieces than the fact that coronavirus cases are on the rise in half the country, he’s rushing to seat a Supreme Court nominee before the election in the hope that she’ll vote to illegitimately install him as president and/or strike down the Affordable Care Act, and his corrupt tax evasion and vast, mysterious debts are now front page news. That’s all likely to come up tonight anyway (in spite of the Trump campaign’s reported demand that Chris Wallace not utter the number of coronavirus deaths), and Biden and Kamala Harris have each released their 2019 tax returns in anticipation.
“But will the debates even matter this year,” you ask?
Impossible to know! It’s true that polling has remained incredibly consistent since Biden emerged as the Democratic nominee. Biden heads into the debates with a consistent lead (two new Pennsylvania polls show him nine points ahead there), and if the pandemic, economic crisis, nationwide protests, and DNC Rhode Island Calamari Guy haven’t reshaped the race, it’s hard to imagine that a few debates will have an earth-shattering impact.
On the other hand, they don’t need to be earth-shattering. Trump has spent his whole campaign trying to paint Biden as a dementia-addled invalid hiding in his basement, and their direct confrontation will provide incontrovertible proof to the contrary. Polls suggest that most voters have already made up their minds, but the ones who haven’t largely don’t know much about Biden’s platform, and the debates are a huge opportunity to inform them.
We’ll have a recap of the night in Wednesday’s What A Day, and you can watch along with us for real-time commentary, fact-checking, and borderline-fireable jokes (if we can keep up with John Kerry) in the Crooked Groupthread →
Look No Further Than The Crooked Media
Once more for the people in the back: The first 2020 presidential debate between Joe Biden and Donald Trump is TODAY, September 29th at 9pm Eastern/6pm Pacific. Watch with us live on https://crooked.com/debate—we’ll be streaming the whole thing along with our Groupthread, where we and other familiar faces from the Crooked Media family will be breaking down what’s happening and giving our live commentary. Watch with us at https://crooked.com/debate →
Under The Radar
The White House put enormous pressure on the CDC to downplay the risk of sending kids back to school. Trump administration officials, including Dr. Deborah Birx, repeatedly leaned on CDC officials to provide data that could illustrate a decline in cases and low risk of infection or death for school-age children—“a snazzy, easy-to-read document” to back up Trump’s demands that schools reopen before the election. Other members of the coronavirus task force were told to go around the CDC to find alternative data to support the White House’s position. Recent data shows that coronavirus cases, hospitalizations, and deaths have increased at a faster rate among children and teenagers, and it goes without saying that the Trump administration trying to circumvent science to put kids in danger for political gain should be an unrecoverable scandal.
The second installment of the New York Times report on Donald Trump’s tax returns outlines how The Apprentice temporarily rescued Trump from financial ruin. After burning through the cash his father gave him and somehow managing to lose money as a casino owner, Trump netted some $197 million from the show itself, and another $230 million through the various endorsements, hotel deals, and scams he secured through his resulting fame. Trump then borrowed from his more lucrative ventures to buy and prop up his many money-losing golf resorts, at the same time that Apprentice ratings and his licensing deals were in decline. That brilliant move helped land him in the financial hole where he once again resides, at great risk to our national security.
MIT researchers say the compact fusion reactor they’re building is likely to work, which could be a huge step forward in the fight against climate change. A federal appeals court has upheld a six-day extension for counting absentee ballots in Wisconsin. Some U.S. Postal Service employees have been quietly resisting Postmaster General Louis DeJoy’s harmful policies. Gov. Gavin Newsom (D-CA) has signed a law allowing California to develop its own line of affordable generic drugs.
Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater. House-keeping:
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Let’s dig in! Since the coronavirus was the one big story last week, I’m going to do away with the “Main Course” division this week - these are all “sides” in the sense that I have a feeling many people missed these developments.
Biden-probe subpoena
Senate Homeland Security Committee Chairman Ron Johnson (R-WI) canceled a planned vote to issue a subpoena in its investigation into Hunter Biden and his work in Ukraine. Johnson informed the committee that instead of subpoenaing former consultant Andrii Telizhenko, he will issue a subpoena to the Democratic public relations firm he worked for: Blue Star Strategies. Although Johnson said the subpoena vote was canceled to give senators time to “receive additional briefings,” a Ukrainian source (Chief editor of The Odessa Review Vladislav Davidzon) told CNN that the subject of the subpoena, Telizhenko, offered him cash to lobby Republican politicians to speak out against Ukraine’s anti-corruption efforts - specifically Ukrainian lawmaker’s attempts to censure two media networks for “broadcasting Russian propaganda.”
In October 2018, the same month that lawmakers voted in favor of a resolution to sanction the two stations, Telizhenko wrote to Davidzon, asking: "Have a question do you or your father have contacts with US Senators? I really need a favour for witch (sic) I can pay up to 5k." ...After expressing concerns about how the new Ukrainian proposals could shut the broadcasters down, Telizhenko then says: “My question is is it possible to get an official comment on a Senators (Rand Paul, Lindsey Graham for example) website next week about this situation of censorship in Ukraine? Really important for me and need fast.”
Ranking member on the committee, Sen. Gary Peters, opposed subpoenaing Telizhenko because he warned that the investigation could be tainted by Russian disinformation. The revelation that Telizhenko has indeed worked for Russian interests seems to substantiate his concerns.
Sen. Murphy’s strategy: Sen. Chris Murphy (D-CT) formally requested the inspectors general for the State Department, the Treasury Department, the Department of Homeland Security, and the National Archives investigate whether those agencies are selectively cooperating with Republican-led efforts to “investigate” Joe and Hunter Biden — while refusing cooperation with Democratic oversight efforts directed at Trump.
Politicizing intelligence
The Office of the Director of National Intelligence provided its first briefing to Congress since the previous DNI, Joseph Maguire, was fired by Trump for allowing his aide to tell Congress that Russia was acting to boost his re-election chances. The current acting-DNI, Ric Grenell, backed out of briefing Congress himself, reportedly because he did not want to discuss issues that make President Trump angry. Instead, his office was represented by William Evanina, the top counterintelligence official at the ODNI. The latest briefing provided information contradictory to Maguire’s briefing, confusing and frustrating House members. Grenell’s office told Congress that the Kremlin is not “directly aiding any candidate’s re-election or any other candidates’ election.” House Speaker Nancy Pelosi and House Majority Leader Steny Hoyer reportedly confronted the ODNI officials, accusing them of politicizing critical intelligence and providing insufficient and contradictory information about Russia’s interference.
Russia ramps up interference
While the Trump administration continues to hide and spin intelligence, the media reports that Russia continues to interfere in the U.S. political system. According to seven current officials, the Kremlin is increasing efforts to inflame racial tensions in America as part of its ongoing operation to influence the November elections.
...Now, Russia is also trying to influence white supremacist groups, the officials said; they gave few details, but one official said federal investigators are examining how at least one neo-Nazi organization with ties to Russia is funded. Other Russian efforts, which American intelligence agencies have tracked, involve simply prodding white nationalists to more aggressively spread hate messages and amplifying their invective. Russian operatives are also trying to push black extremist groups toward violence...
Last week, Facebook and Twitter announced they had discovered a Russian-led network of professional trolls outsourced to operatives in Ghana and Nigeria. The network’s 71 Twitter accounts, 49 Facebook accounts, and 85 Instagram accounts were removed.
“These 71 removed accounts, operating out of Ghana and Nigeria and which we can reliably associate with Russia, attempted to sow discord by engaging in conversations about social issues, like race and civil rights,” said Twitter’s safety team in a statement.
Senate Democrats, including Minority Leader Chuck Schumer, sent a letter requesting that the EU introduce additional sanctions against “Putin’s Chef” Yevgeny Prighozin to deter him and the Kremlin from interfering in elections this year.
“As the presidential election in the United States draws closer, our concerns about foreign interference have intensified...The U.S. and European Union should be unified in facing this common threat and take concrete measures to isolate this malign actor and his affiliated firms. This includes sanctions, but also a joint diplomatic approach to urge that countries avoid engaging with Mr. Prigozhin, Wagner and any other organization associated with him."
Purge continues
Acting-DNI Ric Grenell imposed a hiring freeze at the ODNI starting last week, ordering a review of the agency’s personnel and mission:
Some current and former officials said they saw the effort as an attempt to oust intelligence officers who disagreed politically with Mr. Trump. Those officials questioned why Mr. Grenell, in the job temporarily, would undertake a large-scale reorganization, particularly one that previous directors had considered but put aside…Kashyap Patel, an aide in the director’s office who was transferred last month from the White House [and former aide to Representative Devin Nunes], is involved in the review…
The White House is also holding up the nomination of Kathryn Wheelbarger for one of the Pentagon’s top intelligence jobs because she is not considered sufficiently loyal to Trump. Wheelbarger, who has been serving as acting assistant secretary of Defense for international security affairs since November 2018, is nominated to become the deputy undersecretary of Defense for intelligence.
The post that Wheelbarger would fill is one of 21 senior positions at the Pentagon that are empty or filled on a temporary basis, a record high for the Trump administration.
In the middle of a global pandemic, one of the lead response agencies is losing its chief: Mark Green is set to resign from the U.S. Agency for International Development at the end of the month. Green will be replaced by USAID Deputy Administrator Bonnie Glick, a Trump loyalist.
FEC nominee confirmation
Last Tuesday, the Senate held a confirmation hearing for Trump’s nominee to the Federal Election Commission, James “Trey” Trainor. It’s been over two years since Trainor was first nominated to fill the seat left empty by Republican Commissioner Lee Goodman in 2018. Then, last year, the commission’s vice chairman, Matthew Petersen, resigned, leaving only three members in place. The FEC needs a minimum of four members to take actions like investigating campaign finance violations, enforcing rules, and issuing fines. Trainor is a controversial nominee with a history of advancing partisan gerrymandering and past work for Trump. After the Supreme Court invalidated a key part of the Voting Rights Act, Trainor worked with gerrymandering expert and Republican strategist Thomas Hofeller to successfully implement redistricting maps in Texas that were previously ruled to be discriminatory. Senate Minority Leader Chuck Schumer said the following at Tuesday’s hearing:
“He has worked closely with Thomas Hofeller, notorious for masterminding Republican gerrymandering schemes, to redraw maps that significantly disenfranchise minority voters at the local level. Mr. Trainor’s former law firm described him as being ‘intimately involved’ in Texas’s 2003 redistricting, which the Supreme Court deemed in violation of the Voting Rights Act. Mr. Trainor has argued the Voting Rights Act has become a political tool.”
Schumer also quoted Trainor as saying in 2017 that political donations should be anonymous.
“The Republicans have nominated someone who wants to roll back Citizens United, which the overwhelming majority of the American people support, public disclosure of who’s giving,” Schumer said, adding: “It’s amazing.”
Trainor faced pressure to recuse himself from overseeing any campaign finance matters involving Trump, because he served as a legal adviser on Trump’s 2016 campaign team. Ranking Senate Rules and Administration Committee Member Amy Klobuchar pressed Trainor:
“So you’re not going to just recuse yourself from the beginning on a Trump matter?” Klobuchar asked, visibly surprised. “No, not as a blanket recusal, and I don’t think that there is anyone at the commission currently who has a blanket recusal,” Trainor said. “I think we should all follow the same rules and guidelines.”
Judges finally speak out
U.S District Judge Lynn Adelman, of Wisconsin, published an article in the Harvard Law and Policy Review titled “The Roberts Court's Assault on Democracy.” Adelman takes Supreme Court Chief Justice John Roberts to task for joining the court’s hard right justices in “undermining American democracy” by “carrying out a sustained assault on the right of poor people and minorities to vote” and “reinforcing the enormous imbalance in wealth and political power that has developed in recent decades.”
He described Roberts' 2005 Senate confirmation testimony as "misleading" and declared that "the Roberts Court has contributed to insuring that the political system in the United States pays little attention to ordinary Americans and responds only to the wishes of a relatively small number of powerful corporations and individuals."
Adelman also attacks President Trump for helping the Republican party continue policies that worsen wealth inequality:
Although he ran as a populist and promised to promote policies that benefited ordinary people, upon taking office Trump almost entirely reversed course. He appointed mostly wealthy far-right Republicans and their supporters to his cabinet and to key positions in his administration… Trump also supported a tax bill that provided big benefits to the country’s largest corporations and wealthiest individuals and virtually nothing to the majority of American taxpayers. ...Because Congressional Republicans depend on a relatively small number of wealthy donors to stay in power, their major public policy goal is to do whatever makes such donors happy.
Last week, another prominent member of the judicial community publicly blasted the Chief Justice: Former Hawaii District Judge for 27 years James Dannenberg submitted his resignation from the Supreme Court Bar to Roberts. In a public letter, Dannenberg criticized Roberts for “allowing the Court to become an ‘errand boy’ for an administration that has little respect for the rule of law.” “I have been a member of the Supreme Court Bar since 1972, far longer than you have,” Dannenberg’s letter to Roberts begins.
The Court, under your leadership and with your votes, has wantonly flouted established precedent. Your “conservative” majority has cynically undermined basic freedoms by hypocritically weaponizing others… More than a score of decisions during your tenure have overturned established precedents—some more than forty years old– and you voted with the majority in most. There is nothing “conservative” about this trend. This is radical “legal activism” at its worst. ...The only constitutional freedoms ultimately recognized may soon be limited to those useful to wealthy, Republican, White, straight, Christian, and armed males— and the corporations they control. This is wrong. Period. This is not America. ...I no longer have respect for you or your majority, and I have little hope for change. I can’t vote you out of office because you have life tenure, but I can withdraw whatever insignificant support my Bar membership might seem to provide.
Important court rulings
McGahn and border wall The full bench of the powerful D.C. Circuit Court of Appeals announced on Friday that it will rehear the House’s appeal for Don McGahn’s testimony, vacating the three-judge panel’s previous ruling that judges can’t resolve subpoena disputes between the executive branch and Congress. Arguments are set for April 28. The same court will also take on the House’s challenge of Trump’s emergency declaration to use over $6 billion of federal funds to fund his southern border wall even though Congress only appropriated $1.375 billion. Trump-appointed judge Trevor McFadden dismissed the House’s initial lawsuit last year. Mueller’s grand jury In a 2-1 ruling, a panel of the U.S. Court of Appeals for the D.C. Circuit ruled that the Justice Department must allow Congress access to secret material collected by Mueller’s grand jury in its Russian interference investigation. Judges Judith Rogers and Thomas Griffith - Clinton and W. Bush appointees, respectively - found that the House’s impeachment investigation is a legal judicial process that exempts Congress from secrecy rules that typically shield grand jury materials. The Appeals Court decision can be appealed to the Supreme Court. Trump appointee Judge Neomi Rao dissented, saying the House did have legal grounds to ask the court to enforce the subpoena since the impeachment investigation has ended. Rao has taken Trump’s side in virtually every case she’s heard.
it’s hard not to see the trap Rao has built around Congress. Her Mazars opinion claims that Congress has only one path it can use to investigate President Trump. Then, when Congress traveled down the very same path that Rao identified in Mazars, Judge Rao invents a new limit — suggesting that Congress may only get one shot at an impeachment inquiry. Moreover, as Tatel suggests in the Mazars majority opinion, Rao appears to have invented the constitutional limit she placed on congressional investigations out of thin air. The Atlantic’s David Frum wrote that Rao’s Mazars dissent was “wild talk that would shut down almost all congressional investigations.” Maybe that’s the point — at least as long as Trump is in the White House.
Food stamp cuts Friday evening, U.S. District Court Judge Beryl Howell issued an injunction preventing the Trump administration from implementing a rule change that would force nearly 700,000 Americans off food stamps.
"Especially now, as a global pandemic poses widespread health risks, guaranteeing that government officials at both the federal and state levels have flexibility to address the nutritional needs of residents and ensure their well-being through programs like SNAP, is essential," Howell wrote.
Trump cases
The Washington Post reported that District Court Judge Lorna Schofield ordered Trump and his three adult children to “search through 15 years of business records for materials that could inform a lawsuit alleging they profited by promoting a marketing scam targeting vulnerable investors.”
Trump is being sued by four people who say they were duped into joining the multilevel marketing company ACN years ago because of his endorsement. The suit characterizes ACN as a pyramid scheme and accuses Trump of having made misleading claims as a paid pitchman prior to his presidency. All four say they suffered financially as a result. ...In this case, unlike in others, he has not asserted presidential immunity as a defense, and his legal team has already turned over a number of documents.
Atlantic City officials announced they will soon be filing an injunction in Superior Court to demolish the Trump Plaza Hotel and Casino tower because it is an “imminent hazard.” The city’s mayor, Mary Small, told the press that chunks of the building’s concrete and stucco facade are actively raining onto nearby streets.
“We could have had a fatality,” Small said. “Things will not be tolerated in the city of Atlantic City.”
The crumbling building has been owned by billionaire and Trump-ally Carl Icahn since 2016, though it has been closed since 2014. Icahn endorsed Trump for president in 2016 and financially supported his campaign. Icahn also served as special economic adviser on financial regulation to Trump briefly in 2017, leaving amid concerns of conflicts of interest. In one of many concerning incidents, it was reported that stock for CVR Energy, in which Icahn has 82% ownership, doubled after President Trump's election, increasing $455 million in value.
Don’t miss:Teen models, powerful men and private dinners: when Trump hosted Look of the Year. “In the early 90s, Donald Trump judged the world’s biggest modelling competition - since hit by allegations of abuse… The stories we have heard suggest that Casablancas, and some of the men in his orbit, used the contest to engage in sexual relationships with vulnerable young models. Some of these allegations amount to sexual harassment, abuse or exploitation of teenage girls; others are more accurately described as rape.”
Trump profiting off presidency: Week 164
CNN: Hotels, clubs and restaurants owned by Trump or bearing his name have billed various federal agencies and personnel more than $1 million since he became the Republican nominee for president...About half of the documented expenses involve the U.S. Secret Service, which has been charged more than $600,000 by various Trump properties between September 2016 and August 2019.
CREW: Taxpayers paid President Trump’s Doonbeg resort $15,144.94 for Secret Service lodging during Vice President Mike Pence’s September 2019 trip to Ireland… We can now say definitively that Pence’s detour not only cost taxpayers extra due to large transportation costs, but also that the bill subsidized one of Trump’s struggling businesses.
CREW: On March 7, less than two weeks after President Trump returned from an official visit to India, the business he still owns and profits from made an announcement: it would now ship Trump-branded products to India. This appears to be a clear violation of the Trump family’s pledge of no new foreign business during the Trump presidency, and an invitation for corruption... India is joined on the announcement by Canada, the United Kingdom, Ireland, Scotland (which we must note is still technically part of the United Kingdom) and Germany.
ProPublica: The Trump Organization paid bribes, through middlemen, to New York City tax assessors to lower its property tax bills for several Manhattan buildings in the 1980s and 1990s, according to five former tax assessors and city employees as well as a former Trump Organization employee. Two of the five city employees said they personally took bribes to lower the assessment on a Trump property; the other three said they had indirect knowledge of the payments.
New York Times summarized by HuffPo: President Donald Trump’s campaign manager is quietly channeling money to Eric Trump’s wife, Lara Trump, and Donald Trump Jr.’s girlfriend, Kimberly Guilfoyle… The family benefits are linked to a network of politically connected private companies — operating with the support and help of Trump son-in-law Jared Kushner — that have charged roughly $75 million since 2017 to the Trump reelection campaign, the Republican National Committee and other Republican clients
States, elections, and environment
Ecowatch: A federal judge in Alaska ruled late Wednesday against a Trump administration plan to open 1.8 million acres of America's largest national forest to logging. The Forest Service plan targeted part of the Tongass National Forest on Prince of Wales Island.
Press release: The Center for Biological Diversity sued the Trump administration today for failing to decide whether 241 plants and animals across the country — from the Midwest’s golden-winged warbler to Venus flytraps in the Carolinas — should be protected under the Endangered Species Act. The lawsuit, filed in district court in Washington, D.C., is one of the largest ever under the Act and seeks to undo years of illegal inaction by the Trump administration.
NYT: A New York man who threatened to kill Representative Ilhan Omar in a hate-filled call to her office was sentenced to a year and a day in prison… Mr. Carlineo admitted to making the threatening call, and described himself as a patriot who loved Mr. Trump and hated “radical Muslims in our government,” according to the criminal complaint.
ProPublica: The Republican National Committee has paid hundreds of thousands of dollars to contractors closely connected to the organization’s chairwoman, Ronna McDaniel. One contract went to her husband’s insurance company. Two others went to businesses whose executives recently donated to Ronna for Chair, a largely inactive political action committee that McDaniel controls.
CNN and NYT: Infowars founder and conspiracy theorist Alex Jones was arrested in Texas on a charge of driving while intoxicated… [Also,] The New York State attorney general has issued a cease-and-desist order to Alex Jones, the conservative radio host, alarmed by false claims on his website that his diet supplements and toothpaste could be used to fight the coronavirus.
Immigration news
Politico: Robert Redfield, director of the Centers for Disease Control and Prevention, said Tuesday he was unaware of any indication from his agency that physical barriers along America’s borders would help halt the spread of the coronavirus in the U.S. — contradicting an assertion President Donald Trump made earlier in the day.
The Guardian: Doctors are concerned the spread of coronavirus to the US’s prison-like immigration detention centers is inevitable and will hit a system blighted by overcrowding and medical negligence… Dr Josiah Rich, an epidemiologist at Brown University, said one tool the US government has to prevent the spread of coronavirus is to release some of the 43,990 people in immigration detention, while their legal cases are being processed. People are held in these detention centers for civil immigration violations, not criminal charges, and the government can release them unless they are considered a danger to the community.
NPR: The U.S. Supreme Court delivered the Trump administration another win on one of its signature immigration policies on Wednesday, allowing it to continue the controversial "Remain in Mexico" policy across the entire southern border. The policy, officially called the Migrant Protection Protocols, requires asylum seekers to wait in Mexico for their day in U.S. immigration court. That has led to roughly 60,000 migrants getting sent back across the border since MPP was first implemented in January 2019.
NPR: Hundreds of asylum-seekers who reach the Texas-Mexico border aren't getting a chance to make their case in U.S. immigration court. Instead, the migrants — mostly women and children — are put on planes to Guatemala and told to ask for asylum in that country.
CNN: In explosive audio obtained through the work of a leading human rights group and released by CNN, a Trump administration attorney is heard finally admitting what experts and advocates have been insisting from the start: Remain in Mexico, the administration policy forcing tens of thousands of vulnerable asylum-seekers to wait for their U.S. immigration court dates in Mexico, is in fact dangerous.
“I think what I’m hearing from the government is, and I’ll be honest, I don’t like it,” the judge said, according to the audio. “What I’m hearing is, that well everybody has to take that risk and that chance, and you get kidnapped, you get kidnapped, that’s the risk you take for being in Mexico, and wanting to apply for asylum here in the United States … I don’t think it’s humane. But we’re talking about human beings and lives. It’s not a piece of paper in my opinion. And I really don’t like what I just heard.”
Washington Post: Pregnant woman dies after falling from border wall, a sign of migrants’ desperation… A year ago, during the height of the family migration surge, the couple probably would have tried to turn themselves in to seek asylum, he said. But an array of new restrictions imposed by the Trump administration is driving border-crossers to take more risks, migrant advocates say.
Today's Stock Market News [Monday, March 23rd, 2020]
Good morning traders and investors of the StockMarket sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures turned strongly positive Monday morning after the Federal Reserve pledged asset purchases with no limit to support markets. Dow futures hit their 5% “limit down” overnight, and were off 600-points at one stage Monday morning, as a massive coronavirus funding package failed a key Senate procedural vote Sunday. The Dow Jones Industrial Average tanked another 900 points or 4.5% on Friday, bringing the weekly decline to over 17% for the worst week since the 2008 financial crisis. Ahead of Monday’s session, the Dow was off more than 35% from last month’s record highs. The New York Stock Exchange’s trading floor will be close starting Monday. The NYSE will go to fully electronic trading. The 10-year Treasury yield, which popped back above 1% last week, was below that level early Monday.
Top-level White House and congressional negotiators burned the midnight oil over the now-nearly $2 trillion coronavirus rescue package. Democrats blocked the bill in Sunday’s vote, saying it did too much to bail out companies and not enough to help workers. Several GOP senators, including Rand Paul, who tested positive for the coronavirus, were not present to vote. Others, such as Mitt Romney, were in quarantine as a precaution. The Federal Reserve and Treasury are working on financing programs that could be worth $4 trillion. Goldman Sachs upgraded shares of Boeing, which is hoping for a bailout. Boeing stock has dropped 80% from recent highs on the dual crises of the outbreak and the grounding of its 737 Max.
The United States has the third most coronavirus cases in the world, with over 35,000 and 471 deaths, according to Johns Hopkins University data. More than half the U.S. cases are in New York, where the death toll increased to 153. Washington state has the second-most cases, with nearly 2,000 confirmed and 95 deaths. New Jersey, California and Illinois round out the top five states. President Donald Trump on Sunday activated the National Guard in New York, Washington state and California in order to combat the spread of the coronavirus. New York plans to run a clinical trial, beginning Tuesday, of a treatment regimen of antimalarial hydroxychloroquine and antibiotic azithromycin, a drug cocktail that has shown promise in fighting the coronavirus.
Global coronavirus cases topped 343,000, with 14,789 deaths and over 98,800 recoveries. China, where the outbreak started in December, still has the most cases at over 81,400. China’s 3,274 deaths are second to Italy’s 5,476 deaths. Italy is second in total cases at over 59,100. The U.S., Spain and Germany round out the top five countries. German Chancellor Angela Merkel went into quarantine over the weekend after contact with a doctor who tested positive for the virus. The German government is set to unveil major stimulus measures. Pressure mounts to cancel the Tokyo summer Olympics, set to begin at the end of July. Canada said it won’t send teams to compete. Local media reports indicate that Japanese Prime Minister Shinzo Abe is considering a delay.
Cisco Systems is committing $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley also initiates an investment blitz. 3M said it will supply New York and Seattle with a half-million N95 respirator masks to address the ongoing shortage of health-care equipment. Merck said it will supply New York City with a half-million masks. Chinese billionaire and Alibaba founder Jack Ma sent to Africa 5.4 million face masks, over 1 million testing kits, 40,000 sets of protective clothing and 60,000 protective face shields. BlackRock is committing $50 million in outbreak relief.
Boeing (BA) – Boeing was upgraded to “buy” from “neutral” at Goldman Sachs, which said Boeing will remain a going concern and that flight travel will be as popular as ever once COVID-19 is resolved.
Coca-Cola (KO) – Coca-Cola was upgraded to “overweight” from “neutral” at JPMorgan Chase, which points to rebound prospects post-COVID-19 and the idea that consensus estimates for revenue and profit are conservative.
Deere (DE) – The heavy equipment maker withdrew its financial outlook for 2020 due to the virus outbreak, and is temporarily shutting down some operations. It is continuing to operate in the U.S. and globally to the extent possible.
Amazon.com (AMZN) – Amazon is raising overtime pay for warehouse workers amid a surge in online shopping. Amazon’s move follows similar action from rival Walmart (WMT), which raised the minimum wage for e-commerce warehouse workers.
Danaher (DHR) – Danaher’s Cepheid unit received U.S. Food and Drug Administration approval for its rapid coronavirus diagnostic test, the first of its kind. The test can deliver results in about 45 minutes, compared to lab results which can take days.
Netflix (NFLX) – Netflix was upgraded to “outperform” from “neutral” at Baird, which thinks the video streaming service will benefit from at least 2 factors: more people at home due to the coronavirus outbreak, and acceleration of cord-cutting due to the lack of live sports on TV.
Apple (AAPL) – Apple dropped a two-device limit on online iPhone purchases, just days after instituting that limit. Apple brick-and-mortar stores outside China remain closed due to the coronavirus outbreak.
Occidental Petroleum (OXY) – Occidental is near a settlement with activist investor Carl Icahn, according to The Wall Street Journal. Under the proposed deal, two Icahn allies would receive seats on the Occidental board, and a third independent director would be mutually agreed upon by Icahn and Occidental.
MGM Resorts (MGM) – The casino operator named Bill Hornbuckle – the president of its international division – as acting chief executive officer. Jim Murren stepped down as chairman and CEO over the weekend, following last month’s announcement that Murren would vacate that position.
Best Buy (BBY) – The electronics retailer withdrew its financial guidance for the current quarter and the fiscal year, due to uncertainty related to the virus outbreak. It is also suspending all share buybacks and is shifting to curbside service only for its stores.
Tiffany (TIF) – French luxury goods maker LVMH denied last week’s reports that it is mulling buying shares of Tiffany on the open market, saying it is sticking with the takeover agreement signed in late 2019. Reports last week had said LVMH was considering open market purchases of Tiffany shares, since they are now selling for less than the agreed-upon takeover price.
Marriott (MAR), (HLT) – These and other hotel companies are placing tens of thousands of workers on furlough, as travel dries up in the midst of the coronavirus outbreak.
bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
DISCUSS!
What is on everyone's radar for today's trading day ahead here at StockMarket?
I hope you all have an excellent trading day ahead today on this Monday, March 23rd, 2020! :)
Today's Stock Market News [Monday, March 23rd, 2020]
Good morning traders and investors of the stocks sub! Welcome to the new trading week and a fresh start! Here are your pre-market movers and news this AM-
U.S. stock futures turned strongly positive Monday morning after the Federal Reserve pledged asset purchases with no limit to support markets. Dow futures hit their 5% “limit down” overnight, and were off 600-points at one stage Monday morning, as a massive coronavirus funding package failed a key Senate procedural vote Sunday. The Dow Jones Industrial Average tanked another 900 points or 4.5% on Friday, bringing the weekly decline to over 17% for the worst week since the 2008 financial crisis. Ahead of Monday’s session, the Dow was off more than 35% from last month’s record highs. The New York Stock Exchange’s trading floor will be close starting Monday. The NYSE will go to fully electronic trading. The 10-year Treasury yield, which popped back above 1% last week, was below that level early Monday.
Top-level White House and congressional negotiators burned the midnight oil over the now-nearly $2 trillion coronavirus rescue package. Democrats blocked the bill in Sunday’s vote, saying it did too much to bail out companies and not enough to help workers. Several GOP senators, including Rand Paul, who tested positive for the coronavirus, were not present to vote. Others, such as Mitt Romney, were in quarantine as a precaution. The Federal Reserve and Treasury are working on financing programs that could be worth $4 trillion. Goldman Sachs upgraded shares of Boeing, which is hoping for a bailout. Boeing stock has dropped 80% from recent highs on the dual crises of the outbreak and the grounding of its 737 Max.
The United States has the third most coronavirus cases in the world, with over 35,000 and 471 deaths, according to Johns Hopkins University data. More than half the U.S. cases are in New York, where the death toll increased to 153. Washington state has the second-most cases, with nearly 2,000 confirmed and 95 deaths. New Jersey, California and Illinois round out the top five states. President Donald Trump on Sunday activated the National Guard in New York, Washington state and California in order to combat the spread of the coronavirus. New York plans to run a clinical trial, beginning Tuesday, of a treatment regimen of antimalarial hydroxychloroquine and antibiotic azithromycin, a drug cocktail that has shown promise in fighting the coronavirus.
Global coronavirus cases topped 343,000, with 14,789 deaths and over 98,800 recoveries. China, where the outbreak started in December, still has the most cases at over 81,400. China’s 3,274 deaths are second to Italy’s 5,476 deaths. Italy is second in total cases at over 59,100. The U.S., Spain and Germany round out the top five countries. German Chancellor Angela Merkel went into quarantine over the weekend after contact with a doctor who tested positive for the virus. The German government is set to unveil major stimulus measures. Pressure mounts to cancel the Tokyo summer Olympics, set to begin at the end of July. Canada said it won’t send teams to compete. Local media reports indicate that Japanese Prime Minister Shinzo Abe is considering a delay.
Cisco Systems is committing $225 million to assist in efforts aimed at combating the coronavirus while the rest of Silicon Valley also initiates an investment blitz. 3M said it will supply New York and Seattle with a half-million N95 respirator masks to address the ongoing shortage of health-care equipment. Merck said it will supply New York City with a half-million masks. Chinese billionaire and Alibaba founder Jack Ma sent to Africa 5.4 million face masks, over 1 million testing kits, 40,000 sets of protective clothing and 60,000 protective face shields. BlackRock is committing $50 million in outbreak relief.
Boeing (BA) – Boeing was upgraded to “buy” from “neutral” at Goldman Sachs, which said Boeing will remain a going concern and that flight travel will be as popular as ever once COVID-19 is resolved.
Coca-Cola (KO) – Coca-Cola was upgraded to “overweight” from “neutral” at JPMorgan Chase, which points to rebound prospects post-COVID-19 and the idea that consensus estimates for revenue and profit are conservative.
Deere (DE) – The heavy equipment maker withdrew its financial outlook for 2020 due to the virus outbreak, and is temporarily shutting down some operations. It is continuing to operate in the U.S. and globally to the extent possible.
Amazon.com (AMZN) – Amazon is raising overtime pay for warehouse workers amid a surge in online shopping. Amazon’s move follows similar action from rival Walmart (WMT), which raised the minimum wage for e-commerce warehouse workers.
Danaher (DHR) – Danaher’s Cepheid unit received U.S. Food and Drug Administration approval for its rapid coronavirus diagnostic test, the first of its kind. The test can deliver results in about 45 minutes, compared to lab results which can take days.
Netflix (NFLX) – Netflix was upgraded to “outperform” from “neutral” at Baird, which thinks the video streaming service will benefit from at least 2 factors: more people at home due to the coronavirus outbreak, and acceleration of cord-cutting due to the lack of live sports on TV.
Apple (AAPL) – Apple dropped a two-device limit on online iPhone purchases, just days after instituting that limit. Apple brick-and-mortar stores outside China remain closed due to the coronavirus outbreak.
Occidental Petroleum (OXY) – Occidental is near a settlement with activist investor Carl Icahn, according to The Wall Street Journal. Under the proposed deal, two Icahn allies would receive seats on the Occidental board, and a third independent director would be mutually agreed upon by Icahn and Occidental.
MGM Resorts (MGM) – The casino operator named Bill Hornbuckle – the president of its international division – as acting chief executive officer. Jim Murren stepped down as chairman and CEO over the weekend, following last month’s announcement that Murren would vacate that position.
Best Buy (BBY) – The electronics retailer withdrew its financial guidance for the current quarter and the fiscal year, due to uncertainty related to the virus outbreak. It is also suspending all share buybacks and is shifting to curbside service only for its stores.
Tiffany (TIF) – French luxury goods maker LVMH denied last week’s reports that it is mulling buying shares of Tiffany on the open market, saying it is sticking with the takeover agreement signed in late 2019. Reports last week had said LVMH was considering open market purchases of Tiffany shares, since they are now selling for less than the agreed-upon takeover price.
Marriott (MAR), (HLT) – These and other hotel companies are placing tens of thousands of workers on furlough, as travel dries up in the midst of the coronavirus outbreak.
resorts world casino new york city open today video
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