Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
While Warren Buffett has been selling down his position in stocks like Apple and Bank of America , the latest regulatory filing showed that he added a position in excess of 1 million shares in Heico .
Heico is a company I told you about last November. It's a technology-driven aerospace, industrial, defense and electronics company. According to its website, its products are found on large commercial aircraft, regional, business and military aircraft, as well as on a large variety of industrial turbines, targeting systems, missiles and electro-optical devices.
The aircraft industry today is in an interesting spot. Faced with ongoing, lengthy delays on new jet deliveries, long waits at repair shops, and rising maintenance costs, airlines are increasingly turning to another option: generic replacement parts for their aircraft.
The Aircraft Parts Market
The Federal Aviation Administration (FAA) has a process that dates back to the 1950s for third parties to apply to design and produce replacement aircraft parts. To get Parts Manufacturer Approval (PMA), the components have to be identical to the originals in form, fit and function.
But not in price.
Generic aircraft replacement parts were often sold at a discount of about 30% to the brand-name parts. But that has been climbing like a jet taking off, as original parts manufacturers take advantage of the current mismatch in supply and demand to push their prices skyward.
That’s why maintenance costs at Southwest Airlines jumped 29% in the second quarter from the period a year ago, and American Airlines Group reported an 18% rise in repair-related costs. United Airlines Holdings noted an only 4.4% increase in maintenance expenses in the second quarter — but that was on top of the more than 30% leap in the same period last year.
Not surprisingly, the market for generic commercial aircraft parts is forecast to grow to about $14 billion in 2030, up from $10.7 billion in 2022. And this may be too conservative of an estimate.
For engines in particular, PMA providers are becoming increasingly important. Production constraints are forcing the manufacturers to prioritize newer engine models and wait times for older components are stretching to nearly a year.
All of this is great news for Heico, which is the largest independent provider of off-brand aircraft components.
Heico’s Booming Parts Business
Founded in 1957, the company operates in two business segments: Flight Support Group (60% of revenues in 2023) and Electronic Technologies Group (40% of revenues).
Heico offered almost 20,000 individual components to customers with a PMA stamp, as of the end of fiscal year 2023. That number has grown, thanks to acquisitions, the biggest of which was last year’s $2 billion purchase of replacement jet parts manufacturer Wencor Group.
New entrants into the sector are limited by both the regulatory hurdle, and the difficulty and cost of reverse engineering aerospace components. However, Heico enjoys a long track record of successful PMA approvals and safe deployment of its parts.
Note that this is the juiciest market segment in aerospace, with a fraction of the research and development costs faced by the original equipment manufacturers (OEMs).
CEO Eric Mendelson said in December that the company will enjoy a record year in terms of PMA generation and the number of parts that it comes out with. The company plans to expand its offerings - adding around 500 new, highly engineered parts to its PMA portfolio each year going forward.
Buy HEI Stock
Tufan Erginbilgic, CEO of the UK engine maker Rolls-Royce Holdings PLC , recently warned that the industry’s supply-chain woes could last at least another 18 months, calling it the “worst possible” environment. That tells me it will stretch longer than 18 months, which is good for Heico.
As is the company's acquisition of Wencor, which has expanded its capabilities for its aerospace customers. This will allow Heico to grow its market share. It should also grow Heico’s operating margins. Wencor’s margins were about 130 basis points higher than the company’s organic businesses in the fourth quarter of the 2023 fiscal year.
Heico has increased operating income at a 21% compound annual growth rate since 1990 - that’s how long current management has been involved. That’s indicative that it is well-run. Sales increased at a 15% CAGR since 1990, as well. No wonder Buffett was attracted to it.
Looking ahead, the company will likely grow significantly faster than the overall commercial aftermarket due to even more acquisitions. Morningstar forecasts a 7.1% organic compound annual growth rate over the next five years in the company’s commercial aftermarket business, reflecting the post-pandemic rebound, as well as acquisitions. It sees this business achieving 12.5% compound growth through 2028.
I believe PMAs will be long-term winners in a post-COVID world where airlines are facing higher maintenance costs and parts shortages. Keep in mind that without spare parts for key components like engines, aircraft can’t fly. And, if aircraft can’t fly, airlines will have to reduce capacity, which could result in both job losses and higher costs for the flying public.
That’s a scenario everyone wants to avoid, and it's what makes HEI stock a buy. As does its track record - since 1990, an investment in Heico stock produced a compounded annual growth rate of approximately 22% for its shareholders.
The company has Class A shares with only one-tenth the voting rights of its regular common shares under the listing HEI.A. The company uses these shares to pay for some acquisitions and in some of its compensation plans. I think investors should go with the regular voting shares - HEI - in their portfolios.
When I first recommended the stock, it was trading at $162. It is up 57% since then, and closed Thursday's session at $256. HEI remains a buy below $266.
On the date of publication, Tony Daltorio had a position in: HEI . All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
BEIJING, Sept 13 (Reuters) - BYD 002594.SZ, 1211.HK has significantly ramped up hiring, increasing its workforce to more than 900,000 people as of Friday, a senior manager said, making the Chinese electric vehicle giant one of the largest employers in the country.
The move comes as the Chinese government has been prioritising a push to create more jobs, for college graduates in particular as its economy falters.
The total headcount, up 5.8% from the end of August, makes BYD the largest employer among more than 5,300 companies listed on the Chinese mainland stock exchanges, Li Yunfei, BYD's general manager for branding and public relations, said in a post on his Weibo account.
With nearly 110,000 technology and R&D staff, BYD is the world's largest carmaker as measured by R&D personnel, Li said, adding that the company has hired nearly 50,000 fresh graduates over the past two years.
Li didn't give a breakdown by location in terms of hiring.
A record number of college graduates this year are hunting for jobs in a labour market depressed by COVID-19-induced disruptions as well as regulatory crackdowns on the country's finance, tech and education sectors.
The jobless rate for the roughly 100 million Chinese youth aged 16-24 spiked to a 2024 high of 17.1% in July, according to the National Bureau of Statistics.
BYD, alongside other domestic titans such as online retailer JD.com 9618.HK, are among few major companies that are on a big hiring spree.
Other automaking peers especially for foreign brands have been laying off staff in China as sales plummet. SAIC and its joint venture partners Volkswagen and General Motors planned to slash jobs by double-digit percentages this year, Reuters reported in March, while Honda has been scaling down its workforce with its two joint ventures in China this year.
BYD said in its latest earnings report that it had about 750,000 employees as of June 30 with the total staff costs accounting for 17.54% of its revenue in the first six months.
That equals to an average cost of 11,700 yuan ($1,649.28) per person per month during the period, according to a Reuters calculation.
The company didn't immediately respond to a Reuters query on whether the number in the earnings report is comparable to what Li shared on Friday.
BYD reported improved net profit in the second quarter, even though it led a protracted price war with aggressive discounts on its best-selling models.
($1 = 7.0940 Chinese yuan renminbi)
(Reporting by Qiaoyi Li, Zhang Yan and Kevin Krolicki; Editing by Susan Fenton)
(( qiaoyi.li@thomsonreuters.com ;))
Keywords: BYD-CHINA/
Shares of Occidental Petroleum have plummeted 29% since mid-April, impacting Warren Buffett‘s substantial investment in the company.
What Happened: Chris Bloomstran, fund manager at Semper Augustus, suggested that while Buffett might buy more shares, he is unlikely to take over the company. Bloomstran noted that Buffett prefers Occidental to initiate a stock buyback program, which CEO Vicki Hollub has said will only happen after significant debt reduction, Business Insider reported on Friday.
“I wouldn’t rule out a purchase of additional shares,” Bloomstran said, according to the report.
Further compounding the issue, Buffett holds warrants to buy an additional 83.5 million shares at a strike price of $59.62, nearly 20% above the current market price, according to Bloomstran.
The decline in Occidental’s stock price aligns with a 23% drop in crude oil prices, driven by concerns over demand and excess supply. Berkshire Hathaway‘s (NYSE:BRK) (NYSE:BRK) $13 billion investment in Occidental Petroleum is now potentially underwater.
Buffett’s conglomerate has been accumulating shares of Occidental since early 2022, with a significant buying spree in June at around $60 per share. Currently, Berkshire owns a 29% stake in the oil producer.
The $55-$60 price range had previously acted as a support level for Occidental’s stock since Buffett began his purchases, but this floor has now been breached for the first time in over two years.
According to HedgeFollowe, Berkshire Hathaway’s average purchase price for its stake is estimated at $51.22 per share, slightly above the current trading price.
Why It Matters: The setback for Buffett comes amid a broader context of strategic shifts and market movements. Recently, Bank of America CEO Brian Moynihan commented on Buffett’s reduction of his stake in the bank, noting that Buffett has been a stabilizing force but has sold nearly $7 billion in shares since mid-July.
Buffett has been selling shares in several companies, including Apple Inc. and Bank of America, as economic uncertainties loom.
Despite these challenges, Buffett’s investment acumen remains highly regarded. On his 94th birthday, Berkshire Hathaway reached a $1 trillion market cap milestone, underscoring his long-term success.
However, even Buffett has admitted to missed opportunities, such as his late investment in Amazon.com Inc.
Back in the mid-1990s, when Amazon was just an online bookstore with big dreams, Buffett had the chance to invest. He also passed on buying shares during Amazon’s IPO in 1997.
Reflecting on this now, Buffett doesn’t shy away from admitting his mistake. “I was too dumb to realize” the potential of Amazon and its visionary founder, Jeff Bezos, he’s said, with his usual blend of humility and humor.
Action Price: Occidental Petroleum’s stock is trading at $50.99, up 0.65% on Thursday. However, year to date, the stock has dropped by 15.09%, according to data from Benzinga Pro.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The S&P 500 Index Thursday closed up by +0.75%, the Dow Jones Industrials Index closed up by +0.58%, and the Nasdaq 100 Index closed up by +0.97%.
Stocks on Thursday recovered from early losses and moved higher the rest of the session, with the S&P 500 and Dow Jones Industrials posting 1-week highs and the Nasdaq 100 posting a 1-1/2 week high. Positive corporate news lifted the overall market Thursday, as Warner Bos Discovery closed up more than +10% after it said its multiyear distribution partnership with Charter Communications was renewed early. Also, Kroger closed up more than +7% after raising guidance on the lower end of its full-year sales forecast. In addition, Nvidia closed up more than +1% after CEO Huang said his company is experiencing strong demand for its latest generation of AI chips, called Blackwell.
US stocks garnered some carryover support from the rally in European stocks, as the Euro Stoxx 50 climbed +1.06% after the ECB cut its deposit facility rate by -25 bp to 3.50% from 3.75%.
Thursday’s as-expected US Aug PPI report was negative for stocks as it dampened speculation that the Fed will be able to cut interest rates by -50 bp at next week’s FOMC meeting. Also, an unexpected increase in US initial unemployment claims signaled weakness in the labor market that is negative for economic growth. In addition, most chip stocks saw pressure Thursday after Micron Technology was downgraded to underperform at BNP Paribas Exane.
US weekly initial unemployment claims unexpectedly rose +2,000 to 230,000, showing a slightly weaker labor market than expectations of a decline to 226,000.
US Aug PPI final demand eased to +1.7% y/y from +2.1% y/y in July, right on expectations and the smallest increase in 6 months. Aug PPI ex-food and energy rose +2.4% y/y, up from +2.3% y/y in July and right on expectations.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 33% for a -50 bp rate cut at that meeting.
Overseas stock markets Thursday settled mixed. The Euro Stoxx 50 closed up +1.06%. China's Shanghai Composite closed down -0.17%. Japan's Nikkei Stock 225 closed up sharply by +3.41%.
Interest Rates
December 10-year T-notes (ZNZ24) Thursday closed down by -4.5 ticks. The 10-year T-note yield rose +2.5 bp to 3.678%. Dec T-notes were under pressure Thursday on negative carryover from a slide in European government bonds. Also, Thursday's rally in stocks curbed safe-haven demand for T-notes. Losses in T-notes were limited after weekly US jobless claims unexpectedly increased, a dovish factor for Fed policy. Also, short covering emerged in T-notes following decent demand for the Treasury’s $22 billion auction of 30-year T-bonds with a bid-to-cover ratio of 2.38, right on the average of the past ten auctions.
European government bond yields on Thursday moved higher. The 10-year German bund yield rose +3.9 bp to 2.150%. The 10-year UK gilt rose +2.0 bp to 3.781%.
As expected, the ECB cut its deposit facility rate by -25 bp to 3.50% from 3.75% and said it would continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of interest rates.
The ECB cut its Eurozone 2024 GDP forecast to +0.8% from a previous forecast of +0.9% and raised its 2024 core inflation forecast to +2.9% from +2.8%.
ECB President Lagarde said Eurozone growth risks are tilted to the downside and, "according to survey indicators, the recovery in the Eurozone is continuing to face some headwinds."
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 56% for the October 17 meeting.
US Stock Movers
Micron Technology closed down more than -3% to lead chip stocks lower after BNP Paribas Exane downgraded the stock to underperform from outperform with a price target of $67. Also, Texas Instruments closed down more than -3% and Intel closed down more than -1% to lead losers in the Dow Jones Industrials. In addition, GlobalFoundries , NXP Semiconductors NV , ON Semiconductor , KLA Corp , Microchip Technology , and Lam Research closed down more than -2%.
Warner Bos Discovery closed up more than +10% to lead gainers in the S&P 500 and Nasdaq 100 after it said its multiyear distribution partnership with Charter Communications was renewed early.
Kroger closed up more than +7% after raising the lower end of its full-year sales guidance to +0.75% to +1.75% from a previous forecast of +0.25% to +1.75%
Axon Enterprise closed up more than +6% after JMP Securities raised its price target on the stock to $430 from $375.
Nvidia closed up more than +1% after CEO Huang said his company is experiencing strong demand for its latest generation of AI chips, called Blackwell.
Gilead Sciences closed up more than +2% after it stopped the blinded phase of its trial of the HIV drug lenacapavir after the drug reduced infections by 96%
Signet Jewelers Ltd closed up more than +11% after reporting Q2 adjusted EPS of $1.25, stronger than the consensus of $1.12, and forecast 2025 adjusted EPS of $9.90-$11.52, with the midpoint above the consensus of $10.24.
Netgear closed up more than +31% after raising its Q3 revenue guidance to $170 million-$180 million from a previous estimate of $160 million-$175 million.
Roku closed up more than +5% after Wolfe Research upgraded the stock to outperform from peer perform with a price target of $93.
Moderna closed down more than -12% to lead losers in the S&P 500 and Nasdaq 100 after it said it will cut its research and development budget by about 20% over the next three years to achieve a $1.1 billion cut from its R&D budget by 2027.
Wells Fargo & Co closed down more than -4% after reaching a deal with the Office of the Comptroller of the Currency, requiring it to beef up systems for detecting money laundering and complying with international sanctions.
Caleres closed down more than -18% after reporting Q2 net sales of $683.3 million, weaker than the consensus of $723.8 million, and cutting its 2025 operating margin forecast to 7.0% to 7.1% from a previous view of 7.3% to 7.5%.
Fortinet closed down more than -2% on a data breach after it said someone had broken into a “limited” number of files that contained information related to some of its customers.
Interpublic Group of Cos closed down more than -1% after UBS downgraded the stock to sell from neutral with a price target of $29.
Earnings Reports (9/13/2024)
Dakota Gold Corp (DC), Selectquote Inc (SLQT), Spire Global Inc (SPIR).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
NEW YORK, Sept 12 (Reuters) - Goldman Sachs GS.N has hired Melissa Goldman as a partner and global head of technology engineering for its global banking and markets division, according to a memo seen by Reuters on Thursday.
Having worked for the firm previously, she is the fourth Goldman Sachs alumni to return as a partner this year. This group includes Robert Kaplan, the former president of the Federal Reserve Bank of Dallas.
Melissa Goldman will work with teams across global banking and markets and core engineering to drive engineering strategy.
She previously was global head of corporate engineering at Google GOOGL.O and has three decades of technology engineering experience.
Before Google, she worked at JPMorgan Chase for eight years in senior information and data roles. She started her career at Goldman Sachs as an analyst in 1994 and worked at the firm for 20 years.
(Reporting by Saeed Azhar)
(( Saeed.Azhar@thomsonreuters.com ; +1 347 908-6341; Reuters Messaging: saeed.azhar.reuters.com@reuters.net ))
Keywords: GOLDMAN SACHS-TECH/
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.