Super Harley

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  • Super Harley
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    Dr Chalmers said on the #RBA Governor appointment .

    “But I want to be consistent with the spirit of the RBA review, and I want to be respectful to the views of the opposition, so I’ve given them an opportunity to feed into our considerations.”

    Super Harley
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    Cabinet will meet soon to discuss whether RBA governor Philip Lowe will have his term extended, as Treasurer Jim Chalmers revealed he has consulted the opposition on the looming announcement.

    Cabinet will meet soon to discuss whether RBA governor Philip Lowe will have his term extended, as Treasurer Jim Chalmers revealed he has consulted the opposition on the looming announcement.

    Describing it as one of the most important appointments the government will make, Dr Chalmers said he would take his recommendation to cabinet “soon” about whether Dr Lowe will be replaced when his term ends in September.

    “There’ll be a cabinet discussion before long about it. And then ideally, I would make an announcement immediately after that,” he told ABC radio on Wednesday.

    “I’m not obligated to do that in any way. Not even under the new arrangements proposed by the Reserve Bank review am I obligated to have that conversation,” Dr Chalmers said.

    “But I want to be consistent with the spirit of the RBA review, and I want to be respectful to the views of the opposition, so I’ve given them an opportunity to feed into our considerations.”

    Super Harley
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    Brookdale Senior Living reports that June weighted average occupancy increased 160 bps yr/yr to 76.8%
    $BKD down 3.2%

    Super Harley
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    Coty $13.39▲ 0.38 (2.92%) After Hours
    Report Kim Kardashian in talks to buy back 20% stake of #SKKN sold to Coty, according to WSJ.

    Super Harley
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    Walt Disney lower after exploring strategic options for its Star India business, including a joint venture or a sale, according to WSJ
    $DIS down 0.2%

    Super Harley
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    Activision Blizzard $ATVI: Microsoft $MSFT has offered to make small divesture to meet obligations of UK CMA; says deal likely to close on Monday after FTC loses in court – CNBC’s David Faber

    Super Harley
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    Boeing (BA) reports June 2023 gross orders of 304, deliveries +17% yr/yr to 60; YTD deliveries +23% to 266 aircraft
    Boeing (BA) and Intel (INTC) to collaborate on advanced microelectronics for aerospace

    Super Harley
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    Spotify to Lay Off 2% of Workforce, Primarily in Podcast Groups

    Cuts to affect about 200 employees, company says in blog post
    Gimlet Media and Parcast studios eventually to become one unit

    Spotify Technology SA will lay off 2% of its employees, or 200 people, primarily in its podcast division, the company said in a public blog post. Sahar Elhabashi, vice president, head of podcast business, made the announcement, saying the cuts would help the streaming service become an “optimal organization” for the next stage of its talk-content business.

    Two of the company’s studios, Gimlet Media and Parcast, will eventually merge into Spotify Studios with the branding for those networks being removed from programming. The Ringer, a third studio, will continue to operate independently, a spokesperson said in an emailed comment. Additional cuts will impact finance and talent acquisition.

    “Our continued success in growing the podcast ecosystem is predicated on the necessity that the Spotify Machine is always in motion,” Elhabashi wrote. “And with these changes, we will accelerate into the next chapter for podcasts on Spotify with strong discovery and podcast habits for users, thriving monetization and audience growth for creators, and a valuable, high-margin business for Spotify.”

    The layoffs will be accompanied by an executive shuffle. Liliana Kim will lead current content for the reorganized Spotify Studios, and Liz Gateley will head up development. Julie McNamara will continue overseeing the organization of the studios, and Bill Simmons will remain as managing director of The Ringer and head of podcast innovation and monetization.

    Among the listed shows that will remain in production are The Journal, Science Vs, Serial Killers and Conspiracy Theories.

    Recently, employees have speculated internally that layoffs were in the works. A post on the anonymous workplace social media network Blind had been circulating, saying a reorganization was planned for the podcast studios. Adding to the prevailing sense of unease, the studios have yet to receive annual budgets.

    In 2019, Spotify acquired Gimlet and Parcast. In 2020, it acquired The Ringer to add sports and culture content to its mix of programming. Since the initial deals, the company has gone on to spend over $1 billion as part of a strategic effort to dominate the podcast space.

    lhabashi noted in her post that there are now 100 million podcast listeners on Spotify, representing 10% growth, and that consumption has grown more than 1,400%. But in recent months, the organization has undergone significant reorganizations and strategy shifts. The former Chief Content Officer Dawn Ostroff left the company in January during a round of layoffs that impacted 6% of staff. While Ostroff initially focused on signing big-name talent, many have since not re-signed their exclusive deals.

    Last week, Bloomberg News reported that former sportscaster Jemele Hill would leave the network. The Obamas’ production company, Higher Ground, and Ava DuVernay have also departed from the service’s podcasting roster. Now, the organization wants to focus instead on offering its programming widely across podcast platforms rather than keeping shows exclusive to Spotify.

    https://www.bloomberg.com/news/articles/2023-06-05/spotify-to-lay-off-2-of-workforce-or-200-employees?srnd=premium

    Super Harley
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    Intel to Raise About $1.5 Billion in Sale of Part of Mobileye

    Intel Corp., the largest US chipmaker by revenue, will sell part of its holdings in Mobileye Global Inc., raising about $1.48 billion for its ambitious spending plans.

    The US company is offering 35 million shares with an option to sell a further 5.25 million shares of the Israeli automated driving technology maker, Mobileye said Monday in a regulatory filing. Mobileye stock has more than doubled since its initial public offering last October. Goldman Sachs Group Inc. and Morgan Stanley will underwrite the sale.

    Intel Chief Executive Officer Pat Gelsinger has launched an ambitious plan to regain his company’s lead in the semiconductor industry by building new plants and rapidly improving its manufacturing technology. He’s doing that at a time when the main market for his products, personal computers processors, has slumped. And the company is losing market share, which is hurting sales and profit.

    Following the sale, Intel will retain about an 88% stake in Mobileye, which it bought in 2018 for $15.3 billion.

    Mobileye shares declined 2.7% to close at $42.37, leaving them up 21% this year. Intel fell 4.6% to $29.86 in New York, pairing its gains to 13% in 2023.

    https://www.bloomberg.com/news/articles/2023-06-05/intel-to-raise-about-1-5-billion-in-sale-of-part-of-mobileye?srnd=premium#xj4y7vzkg

    Super Harley
    Participant

    Tesla (TSLA) (716.80 +17.70) after Jefferies analyst Philippe Houchois upgraded the stock to Buy from Hold and lifted his price target to $850 from $700.

    At the root of his bullish call is strengthening global demand for electric vehicles (EVs) and the prospects for stronger gross margin as product mix turns more favorable heading into 2022.

    On the former point, it’s not difficult to understand the optimistic sentiment. From a broader perspective, EV production is accelerating on a massive scale with U.S. auto manufacturers confirming last week that a 40% annual sales target for EVs by 2030 is the goal. A few years ago, that number may have seem unrealistic, but rapid consumer acceptance of EVs has made that target attainable. During TSLA’s Q2 earnings conference call on July 26, CEO Elon Musk commented that consumer support and interest for EVs is reaching an inflection point.

    TSLA’s robust Q2 results certainly supported that claim as the company achieved record quarterly deliveries and record quarterly profit.

    One blemish in the report was that ASPs decreased again, this time by 2% yr/yr, due to a higher proportion of China-made vehicles (primarily Model 3) in the overall mix. However, as Houchois points out, FY22 should benefit from a more favorable model line-up.

    A key factor supporting a potential boost to ASPs, and, by extension, automotive gross margin, is the launch of TSLA’s new Austin, TX assembly plant. Initially, the facility will roll out a newly-designed Model Y crossover, which will also be manufactured at Giga Berlin. Deliveries of the new Model Y are expected before year end.

    The Austin plant will also be home of TSLA’s new Cybertruck. Following the Q2 report, there was some disappointment that production of the bold-looking (some may say “odd-looking”) Cybertruck could be pushed out to 2022 due to the prioritization of Model Y. Initially, production was expected by the end of this year. That possibility was confirmed today after TSLA published on its website that customers can “complete configuration as production nears in 2022.” Besides the updated production timeline, what stands out is the Cybertruck price, which ranges from 39,900-69,900. In comparison, the price for a Standard Range Plus Model 3 is $35,690, with the most expensive Performance version costing $52,690.

    Importantly, TSLA’s automotive gross margin has been expanding, even with an unfavorable pricing mix. In Q2, automotive gross margin expanded by 313 bps yr/yr to 28.4%, driven by improving production efficiency and cost optimization efforts. Those efficiencies aren’t likely to diminish, especially if the supply chain and chip shortage headwinds abate later this year.

    An intensifying competitive landscape is a viable risk that investors should consider, but TSLA’s strong brand name and the sheer size of the EV market lessens this concern, in our view. The bottom line is that the bullish case for TSLA was successfully made today via the upgrade, and that the path of least resistance for the stock over the longer-term still seems to be higher.

    Super Harley
    Participant

    Chinese exchanged Crude oil and #Ironore futures were hit hard today Sep21 Chinese Dalian Iron Ore Futures found support at their 200-day simple moving average via @patrickrooney

    #AUDUSD #RIO #BHP

    Super Harley
    Participant

    Thank you great analysis!

    Thought this was interesting or funny

    Tesla CEO Elon Musk sniped at Silicon Valley neighbor Apple twice during a conference call to discuss Tesla earnings on Monday.

    The first time, he said that Apple uses more cobalt in its batteries than Tesla did.
    The second time, after he referred to “walled gardens,” he fake coughed and mentioned Apple in a reference to challenges to its App Store policies

    Apple is reportedly building an electric self-driving vehicle under a project code-named Titan, and has attracted a number of engineers and executives away from Tesla. The Titan project is reportedly run by Doug Field, who returned to Apple in 2018 after five years at Tesla.

    When asked about Tesla’s supply chain, Musk said that there’s a misperception that Tesla uses a lot of cobalt, a key material in the production of lithium-ion cells used in both smartphones and electric cars.

    “Apple uses I think almost 100% cobalt in their batteries and cell phones and laptops, but Tesla uses no cobalt in the iron-phosphate packs, and almost none in the nickel-based chemistries,” Musk said. “On on a weighted-average basis we might use 2% cobalt compared to say, Apple’s 100% cobalt. Anyway, so it’s just really not a factor.”

    Super Harley
    Participant

    US Justice Dept will announce later today details of operation to recover crypto paid in the Colonial pipeline hack.
    Report says #FBI was notified and the wallet used by the hackers was tracked. via CNN

    #Bitcoin at $35,472 own over 1%

    Super Harley
    Participant

    Taiwan stock sell off continues

    The Taiwan Stock Exchange Weighted Index closed the Monday session 3% lower, having slid as much as 4.2%, as authorities urged companies to allow staff to work from home or split locations after reporting a record 206 new local cases Sunday. The benchmark gauge sank 8.4% last week on concern about the impact on growth, the most since March 2020, turning Taiwan stocks into the world’s worst performers so far this month.

    Forced selling may add volatility to Monday’s trading, with the level of margin debt falling by a net NT$5.8 billion ($207 million) on Friday, according to exchange data compiled by Bloomberg. That took the four-day drop in leverage to NT$39.4 billion, showing traders faced margin calls by brokers to cover losses in their stock accounts.

    The sharp reversal in Taiwan stocks is a warning to highly leveraged investors around the world. The Taiex was the world’s best performing equity gauge in the three years through April, surging almost 80% in U.S. dollar terms, as a seemingly never-ending rally in tech shares pulled in retail investors.

    “In light of rising concerns over the pandemic, we expect more volatility ahead, and advise to stick to defensive names with low P/E and high dividend yield,” said Patrick Chen, CLSA’s Head of Taiwan Research. His team’s top picks include Taiwan Semiconductor Manufacturing Co. and Hon Hai Precision Industry Co.

    https://ca.finance.yahoo.com/news/world-worst-stock-rout-extends-010202375.html

    Super Harley
    Participant

    Roblox reports earnings Monday afternoon It is expected to report $573.1 million in sales in its March-ended quarter, according to FactSet estimates and earnings per share of $0.13.

    “I have my eye on Roblox because Roblox is essentially crack for kids,” Danielle Shay, director of options at Simpler Trading, said Friday. “Their business model is a little bit questionable but lucrative. So, I’m looking at this one to the upside.”

Viewing 15 posts - 1 through 15 (of 131 total)