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Alaska Bought Up Gilead, Lilly, and Wells Fargo Stock. Here’s What It Sold.

October 10, 2020

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Alaska’s Department of Revenue materially increased investments in Gilead Sciences and Eli Lilly stock in... — Alaska’s Department of Revenue materially increased investments in Gilead Sciences and Eli Lilly stock in the third quarter.

David Paul Morris/Bloomberg

Alaska’s Department of Revenue made big changes in some of its biggest holdings in U.S.-traded equities.

The state agency, which is charged with collecting and investing funds for public purposes, materially increased investments in

Gilead Sciences

(ticker: GILD) and

Eli Lilly

(LLY), two companies working on treatments for Covid-19, in the third quarter. The Department of Revenue also bought more

Wells Fargo

(WFC) stock and cut holdings in

Bank of America

(BAC). The Alaskan agency disclosed the trades, among others, in a form it filed with the Securities and Exchange Commission.

Alaska’s Department of Revenue, which managed $8.1 billion in U.S.-traded equities as of Sept. 30, didn’t respond to a request for comment on its stock transactions.

The agency bought 253,419 more Gilead shares in the third

Occidental Petroleum: The Silver Linings Don’t Trigger A Buy Decision (NYSE:OXY)

October 10, 2020

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Source

“Timing the market is not difficult, but impossible”. This is what I’d say if an investor inquires whether I can time the market. Looking back at my recent calls on Occidental Petroleum Corporation (OXY), however, I am contemplating whether it’s high time to change my stance on timing the market (no, I’m not serious). Courtesy of Seeking Alpha Premium, here’s a snapshot of what I’m talking about.

Source: Seeking Alpha

To summarize, I found Occidental stock appealing in mid-March when everything seemed to go against the company, and in early June, I decided to book my profits even though the macroeconomic outlook seemed to be improving. Nearly four months after, I still find no reason to jump onboard Occidental despite a few silver linings. The risk-reward profile, in my opinion, is not skewed in favor of growth investors.

Inconsistency of the management troubles me more than the asset

UK stock picks to buy, avoid with fourth quarter catalysts: Barclays

October 10, 2020

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The FTSE 100 was one of the worst-performing major indexes in Europe in September. However, UK investment bank, Barclays, in a research note, said stocks in the UK region were cheap and under owned.
The UK market is “foreign exchange sensitive” and with the GBP likely to be choppier due to Brexit uncertainty, Barclays predicts the FTSE 100 will improve, which could create opportunities for investors.
Barclays outlines seven UK stock picks with catalysts in the fourth quarter and two stocks to sell.
“Our seven OW-rated stocks have an average upside to our PT of 26%; whilst our two UW-rated stocks have an average downside to our PT of -27%,” said Barclays’ equity analyst, Richard Taylor, in the note.
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The FTSE 100, the UK stock index that tracks the biggest 100 companies

These FTSE 100 Shares Are About To Update The Market. Should You Buy Them Today?

October 10, 2020

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These UK shares are set to release fresh financial details over the next couple of weeks. Is now the time to buy in? Or should you give them a very wide berth?

Barclays

Imminent third-quarter financials from FTSE 100 banking colossus Barclays are bound to attract plenty of attention. This is a reflection of the blue chip’s standing in its own right as well as its role as a barometer of the health of the British economy. And I have to tell you that I’m not too optimistic over what they’ll show.

UK banks have already been forced to suck up gigantic impairments resulting from the Covid-19 crisis. Barclays itself announced it had booked £3.7bn worth of credit impairments in its half-year trading update in July. Profits at the bank sunk to £1.3bn between January and June from £3bn a year earlier, too. I fear

RBI appeals to Supreme Court to allow NPA classification

October 10, 2020

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MUMBAI (Reuters) – The Reserve Bank of India has appealed to the country’s top court to let banks classify loans as nonperforming, saying a ban imposed to help borrowers in the COVID-19 pandemic could greatly harm the nation’s financial system.

FILE PHOTO: A security guard’s reflection is seen next to the logo of the Reserve Bank Of India (RBI) at the RBI headquarters in Mumbai, India, June 6, 2019. REUTERS/Francis Mascarenhas/File Photo

The central bank, in a filing to the Supreme Court late on Friday, warned that failure to immediately lift an interim stay on banks classifying any loan as a non-performing asset (NPA) would also undermine the central bank’s regulatory mandate.

The court granted the stay last month, responding to a plea filed by an Indian optician, later joined by a wide range of borrowers whose income or revenue was hit by the COVID-19 pandemic.

The court is set

ExxonMobil Loses $225 Billion In Market Cap Against Chevron

October 10, 2020

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Chevron Reports $8.3 Billion Loss For Second Quarter — NOVATO, CALIFORNIA – JULY 31: A sign is posted in front of a Chevron gas station on July 31, 2020 in … [+] Novato, California. Chevron Corp reported a $8.27 billion loss in second quarter earnings compared to $4.3 billion in revenues one year ago. (Photo by Justin Sullivan/Getty Images)

Getty Images

Twice over the past two weeks, ExxonMobil
XOM
has made headlines for all the wrong reasons.

Last week the utility NextEra Energy
NEE
surpassed the market capitalization of ExxonMobil to replace it as the largest U.S. energy company.

This week, there was another milestone. At some points over the past decade, ExxonMobil — the biggest of “Big Oil” in the U.S. — was worth as much as $225 billion more than Chevron
CVX
. That size advantage totally disappeared on October 8, 2020, when Chevron’s value closed the day higher than ExxonMobil’s.

If you look at the chart,

She bootstrapped her company after facing bias. Now she’s helping other entrepreneurs do the same.

October 10, 2020

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This story originally ran on CNBC.com

Melissa Bradley’s mission to help women and people of color build their businesses stems from the hardships she faced as a young entrepreneur.

The 52-year-old, co-founder of the mentorship tech platform Ureeka and a Georgetown University professor, started her first company shortly after she graduated from college 30 years ago. The business’s mission was to provide financial literacy services to parents.

Bradley says that when she went to a government agency for a loan, she was told she had three strikes against her: She was Black, she was a woman and the person said she didn’t know any successful Black women in finance.

Bradley, who recently participated in the Ewing Marion Kauffman Foundation and CNBC + Acorns Invest in You’s “Rebuilding Better: A Virtual Town Hall for America’s Small & New Business Owners,” still managed to get her company off the ground. “I bootstrapped,”

Analysis: U.S. Bank Stocks Are Fine, if You Are Rich in Patience | Investing News

October 10, 2020

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(Reuters) – The U.S. bank sector has been pummeled this year but investors hunting for bargains there may need deep reserves of patience as banks are particularly sensitive to low interest rates, the uneven economic recovery and the muddy stimulus outlook.

The S&P 500 Bank subsector , which kicks off its third-quarter earnings season on Oct. 13, was last down 33.7% for the year-to-date compared with a 5.8% gain for the S&P 500 index.

Banks have been such a drag on the broader S&P financial index that its 19% year-to-date decline is second only to energy’s 49.9% drop among the S&P 11 major sectors.

To be sure, if lawmakers in Washington manage to reach an agreement, a new fiscal stimulus package could help banks if it boosts U.S. loan growth, interest rates and economic activity.

And the bank index is up 12% from its intraday trough on Sept. 2 to

EU Climate Change Latest News: Green Stimulus for CO2 Emissions from Buildings

October 10, 2020

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The European Union wants to at least double the pace of renovation of homes and offices over the coming decade in a bid to save more energy and meet stricter climate goals under a sweeping green overhaul.

The Renovation Wave strategy, to be unveiled by the European Commission on Wednesday, will outline steps needed to accelerate upgrades of more than 200 million existing buildings — including insulation and change of heating equipment — at a cost of nearly 300 billion euros ($355 billion) per year, according to draft EU documents seen by Bloomberg News.

Explore dynamic updates of the earth’s key data points

Buildings account for more than a third of EU greenhouse-gas emissions, and improving their energy efficiency is a prerequisite for Europe to meet its Green Deal goal of becoming the world’s first climate-neutral continent by

RBI Said to Urge Court to Not Consider More Relief for Borrowers

October 10, 2020

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People shop at stores in Noida, Uttar Pradesh.

Photographer: Prashanth Vishwanathan/Bloomberg

India’s central bank and the federal government have urged the nation’s Supreme Court to reject pleas by borrowers to extend a loan repayment holiday, according to people familiar with the filing.

The Reserve Bank of India and the government filed their written views on Friday following an order by the court, saying the measures announced so far to increase liquidity and lower borrowing costs are having a positive impact on the economy, the people said, asking not to be identified because the filings aren’t public.

A RBI spokesperson didn’t immediately respond to a message seeking comment. Finance Ministry spokesman Rajesh Malhotra declined to comment, saying the matter is under consideration by the court.

Earlier this year, the central bank allowed lenders to freeze loan repayments through Aug. 31 to limit the impact of the coronavirus pandemic

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Category: business

Alaska Bought Up Gilead, Lilly, and Wells Fargo Stock. Here’s What It Sold.

Alaska’s Department of Revenue materially increased investments in Gilead Sciences and Eli Lilly stock in the third quarter.

Occidental Petroleum: The Silver Linings Don’t Trigger A Buy Decision (NYSE:OXY)

Inconsistency of the management troubles me more than the asset

UK stock picks to buy, avoid with fourth quarter catalysts: Barclays

These FTSE 100 Shares Are About To Update The Market. Should You Buy Them Today?

RBI appeals to Supreme Court to allow NPA classification

ExxonMobil Loses $225 Billion In Market Cap Against Chevron

She bootstrapped her company after facing bias. Now she’s helping other entrepreneurs do the same.

Analysis: U.S. Bank Stocks Are Fine, if You Are Rich in Patience | Investing News

EU Climate Change Latest News: Green Stimulus for CO2 Emissions from Buildings

RBI Said to Urge Court to Not Consider More Relief for Borrowers