Samsung’s next big wave of Galaxy phones is still a ways off, but that isn’t stopping the company from drumming up hype — even for the chips that will power those phones. SamMobile reports that Samsung’s Chinese branch has teased a launch event for its Exynos 1080 chipset on November 12th in Shanghai. There’s precious little info in the teaser regarding the chip besides its built-in 5G (already present in the 980), but Samsung has already dropped a few clues as to what to expect.
The company recently revealed to Android Authority that the Exynos 1080 will be a direct successor to the 980 that uses newer Cortex-A78 CPU cores and Mali-G78 graphics. In other words, this isn’t meant for flagships like the Galaxy S — instead, it’ll improve the performance for mid-range phones like the Galaxy A series.
That doesn’t necessarily mean it will be slow. One early test result suggested the 1080 might be faster than the Snapdragon 865. While it’s good to be skeptical of pre-release benchmark data, it suggests that Samsung’s 2021 mid-rangers might offer brisk performance where they used to be somewhat sluggish.
This might be Samsung’s most important chip for the coming year. While the company’s mobile profits have been soaring despite the pandemic, it still faces a market where economic hardship will limit how much customers are willing to spend. In other words, people will be more likely to buy a mid-range phone (and thus the Exynos 1080) than a premium device using the Exynos 990’s successor. In that light, it makes sense to generate buzz for a chip that could be relatively ubiquitous.
Jim Rogers once again hammered home the idea that the flood of money flowing from central banks are artificially keeping markets around the world afloat. He’s been calling for a nasty selloff for a while now.
I can easily live on a $60,000 budget (including taxes) but often it is less than that. Health insurance is probably one of the most crucial — if not the most crucial — consideration you’ll need to make before you leave your job.
The biggest power players on Wall Street have already seen it coming – and quietly changed their outlook for 2021. This will affect your money.
Dow Jones futures: After a major market sell-off amid coronavirus fears and election uncertainty, investors should be defensive, build up watchlists.
* This weekend’s Barron’s examines why the merger frenzy among chipmakers has not impressed investors. * Other featured articles discuss stock picks for any presidential outcome, how health insurers perform after elections, and the good, bad and odd of big tech earnings. * Also, the prospects for a game developer, an industrial, telecom giant and more. “Chip Firms Bulk Up, and Investors Balk” by Max A. Cherney suggests that, while Advanced Micro Devices Inc. (NASDAQ: AMD) CEO Lisa Su says, “The more scale you have, the more you can do for your customers,” for investors, the picture is more complicated. See what the big acquisitions by chipmakers mean for their stocks.Max A. Cherney’s “Zynga Finds a Global Stage for Its Mobile Games” says that Zynga Inc. (NASDAQ: ZNGA) gets overshadowed by larger videogame makers, but the company is learning how to play in a market of 2 billion people. See how the stock is a play on smartphones and games like Words With Friends.In “3 Industrial Stocks to Watch if the U.S. Recovery Mimics China,” Al Root makes the case that China is rebounding from COVID-19 and so will the United States, and there are stocks that will profit from both economies growing again. What could that mean for Boeing Co. (NYSE: BA) and Parker-Hannifin Corp. (NYSE: PH)?Some trends just are not dependent on who occupies the White House. So says “Trump or Biden? Stocks to Buy for Any Outcome” by Liz Moyer. Find out what that could mean for everything from Abbott Laboratories (NYSE: ABT) to Newmont Corp. (NYSE: NEM).In Daren Fonda’s “Managed-Care Stocks, and Anthem, Could Rise After Vote,” discover why health-insurer stocks like Humana Inc. (NYSE: HUM) tend to slip before elections but deliver hefty gains in the following year. And see why the CEO at Anthem Inc. (NYSE: ANTM) sounds upbeat.”General Electric’s Stock Price Is Stuck. Here’s What It Will Take to Get It Rising Again” by Al Root examines why General Electric Co. (NYSE: GIVE) stock has remained in the same price range since the beginning of June. Barron’s wonders whether there is a secondary offering in the cards.See also: Benzinga’s Bulls And Bears Of The Week: FAANGS, Ford, Visa And MoreSee why Alphabet Inc. (NASDAQ: GOOGL) was the star and Twitter Inc. (NYSE: TWTR) the loser of reporting season, according to Eric J. Savitz’s “The Good, Bad, and Just Plain Odd From Tech’s Earnings.” The article also examines hiring plans at Amazon.com Inc. (NASDAQ: AMZN).In “Forget AT&T’s Lofty 7.8% Yield. Its Dividend Looks Safe,” Lawrence C. Strauss points out that whether AT&T Inc. (NYSE: T) can extend its streak of dividend increases is subject to debate among market watchers. See why Barron’s believes telecom and media company has the financial wherewithal to keep it going.Jack Hough’s “Overconfident Predictions for Stocks, the Election, and a Covid-19 Vaccine” posits that the future is unknowable, but that’s no reason not to forecast it out to two decimal places. Will AstraZeneca plc (NYSE: AZN) or Pfizer Inc. (NYSE: PFE) come out ahead in the race for a coronavirus vaccine?Also in this week’s Barron’s: * Why this is Jerome Powell’s moment, no matter who becomes president * Where bond buyers can find value among slim pickings * The small advisory beating Goldman Sachs and Morgan Stanley * Why America’s elections are more secure than you think * How China still has an open door for Wall Street * How, despite record GDP, the recovery faces growing pains * How to play the waning housing market boom * Why small caps battered by the pandemic look ready to shine * Raising oil and stock prices with mergers * How a blue wave could lift the municipal bond market * Why Europe puts economic hopes on a Biden presidency * What to buy in a Trump victory At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Benzinga’s Bulls And Bears Of The Week: FAANGS, Ford, Visa And More * Last Week’s Notable Insider Buys: IBM, Intel, Raytheon And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) — Stocks will look to rebound from a tech-induced sell-off in Asia as traders brace for a crucial week that could set the tone for the remainder of the year, with the U.S. election and a Federal Reserve policy meeting. Oil sank.Australian shares rose modestly at the open, while equity futures in Japan ended Friday higher, indicating the Asia-Pacific region can start November on the front foot following two months of losses for global equities. S&P 500 contracts were flat. The pound slipped as increased restrictions in England aimed at controlling the coronavirus overshadowed signs of progress on Brexit. Traders will later watch the release of data on Chinese manufacturing for any clues on the trajectory of the recovery there after official readings at the weekend topped estimates.The main event this week will be Tuesday’s U.S. election, with Democrat Joe Biden leading President Donald Trump in polls. Virus developments are also front and center with the recent surge in U.S. cases showing signs of slowing Sunday, while countries in Europe move to further restrict the movement of people in a bid to contain the spread.“Whichever way you look at it, this coming week will be huge for U.S. and global markets,” said Simon Ballard, chief economist at First Abu Dhabi Bank Pjsc. “We see the potential for a sharp rise in volatility around these events — and all in the context of a still deteriorating Covid-19 situation across much of the U.S., Europe and elsewhere.”These are some key events coming up:Earnings are due from companies including Nintendo Co., SoftBank Group Corp., Macquarie Group Ltd., Toyota Motor Corp., Alibaba Group Holding Ltd. and AstraZeneca Plc.U.S. Presidential election on Tuesday.EIA crude oil inventory report on Wednesday.Fed policy decision on Thursday.The U.S. labor market report is due Friday.Here are the main moves in markets:StocksS&P 500 futures were little changed as of 8:01 a.m. in Tokyo. The benchmark fell 1.2% on Friday.Futures on Japan’s Nikkei 225 rose 1.4% on Friday.Hang Seng Index futures were little changed on Friday.Australia’s S&P/ASX 200 Index advanced 0.3%.CurrenciesThe yen was at 104.67 per dollar.The offshore yuan was at 6.6947 per dollar.The euro bought $1.1645.The pound slid 0.1% to $1.2938.BondsThe yield on 10-year Treasuries rose five basis points to 0.87% on Friday.Australia’s 10-year yield remained at 0.83%.CommoditiesWest Texas Intermediate crude slid 2.9% to $34.75 a barrel.Gold was steady at $1,879.19 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The 2020 U.S. election is taking place on Nov. 3 with President Donald Trump and former VIce President Joe Biden battling for the lead position.Gold Price Analysis: The U.S. presidential election will play a huge role in shaping the global economy and gold prices are expected to react in the run up to the election day. So how important is it for the safe haven asset gold if Biden or Trump makes it to the White House?”There is no doubt that we are likely to see increased volatility in stock markets in the run up to the election day and investors seeking traditional safe havens such as gold, particularly if the race between the two candidates gets very close and there is a growing risk of a contested outcome,” writes Saida Litosh, manager of precious metals analysis at Refinitiv.Biden or Trump Impact: If the past is any indication, a second Trump administration would mean a “turbulent and polarizing first term” which in turn would add further volatility and uncertainty, although the potential for radical policies could be lower in the second term should Congress remain divided, Refinitiv highlights.However, a Biden win would represent a return to a more conventional administration resulting in less volatility associated with political risks and international tensions.”Historically gold price movements in the aftermath of previous U.S. presidential elections suggests little evidence of a clear relationship between the gold price and the election outcome based on party affiliation,” says Litosh.Fosterville South Exploration CEO Bryan Slusarchuk says, for thousands of years, gold has acted as a hedge against uncertainty, a currency and a store of wealth. Both Trump and Biden have promised huge amounts of stimulus and huge amounts of easing.”Both [Trump and Biden] have been vocally supportive of various policies that amount to quantitative easing and therefore gold ought to react well no matter who is elected,” says Slusarchuk.Stepping beyond financial conditions, which will serve to propel gold higher, we need to consider gold’s function as a hedge against uncertainty, says Slusarchuk.Gold Has Explosive Upside: Slusarchuk says this election is going to be perhaps the most divisive election in the history of the United States.”It may be contested, the outcome may not be certain and its legitimacy will no doubt be challenged in some circles no matter which side is victorious,” says Slusarchuk.He believes a bitter, contested election would also potentially have many negative consequences and would represent the very definition of uncertainty which is something gold hedges against.”I believe gold has explosive upside in the coming months and this is predicated on economic and financial conditions, but the uncertainty of the election outcome will only serve to accelerate its upward trajectory,” adds Slusarchuk.Price Action: The SPDR Gold Trust (NYSE: GLD) was up 0.37% at $179 at the time of publication Monday, while the VanEck Vectors Gold Miners ETF (NYSE: GDX) was up 0.89% at $38.55.See more from Benzinga * Click here for options trades from Benzinga * Check Out The Benson On Madison Ave. With Condos On Sale From .5M (PHOTOS) * Why GameStop’s Stock Is Trading Lower Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
U.S. firm reveals first-ever deployment (in Arizona) of tech breakthrough that could radically change your life over the next decade.
Wall Street hit some rough waters last week. With the Presidential elections only two days away, spiking COVID-19 numbers and hopes for a pre-election stimulus package dwindling, stocks posted their worst week since the height of the pandemic in March. All three of the major U.S. stock indexes also reported a second consecutive monthly decline. According to the pros on Wall Street, uncertainty is ruling the markets. That said, some strategists point to this month’s Federal Open Market Committee meeting, which will take place on November 4-5, as potentially helping to reassure investors. Should more liquidity be provided, stocks could gain in the mid to long-term, even if there’s no additional stimulus. What’s more, the pros argue the recent sell-off could present an opportunity to snap up compelling names at a more attractive entry point. Bearing this in mind, we turned to the expert stock pickers from Wells Fargo for some inspiration. The investment firm lands a top 10 spot on TipRanks’ list of Top Performing Research Firms. Taking a look at three Wells Fargo-backed tickers, we used TipRanks’ database to find out why the firm’s analysts see each as such an exciting opportunity. RealReal (REAL) First up we have RealReal, which is a leader in the online authenticated luxury consignment space. On the heels of a major new partnership, Wells Fargo has high hopes for this retailer. On October 5, REAL announced a new partnership with Gucci, which is one of the most popular brands on REAL’s platform. As per the terms of the deal, the two companies will develop an online platform for the sale of pre-owned Gucci products, with the site also promoting a more circular economy for luxury. This platform will operate as a website within a website on REAL’s platform, and will carry products supplied primarily by third party consignors, as well as some supplied directly by Gucci. For every item sold, the company will plant a tree through nonprofit organization One Tree Planted. Representing Wells Fargo, analyst Ike Boruchow sees several positives coming from this collaboration, with it representing “a clear win for the bulls in the near-term.” He explained, “The fact that REAL is partnering with one of the highest-profile luxury brands in the world should give them significantly more credibility with consumers (and the luxury industry overall). Interestingly, in an interview with Women’s Wear Daily, Gucci brand CEO Marco Bizzarri stated that the growing popularity of the resale market is very interesting to us.” Additionally, the agreement reflects another vehicle for acquiring supply, which is essential as “unlocking supply is one of the biggest growth drivers for REAL,” in Boruchow’s opinion. He further points out that even though Gucci is only supplying a limited number of pieces, it will be “incremental to REAL’s supply.” If that wasn’t enough, Boruchow argues the partnership highlights the environmental benefits of the resale market. The analyst thinks this will continue to make “make the resale market increasingly attractive to consumers who are becoming increasingly conscious of sustainability and environmental factors.” When it comes to the business fundamentals, Boruchow believes supply has been a bigger issue than demand in 2020, especially during the COVID-19 pandemic. That said, REAL has found new ways to acquire supply, which can “help unlock REAL’s long-term growth potential,” according to the analyst. Summing it all up, Boruchow commented, “As a result, we believe gross merchandise value will continue to accelerate in the coming quarters, and that the long-tern runway growth is extremely compelling.” As a result, Boruchow stayed with the bulls. In addition to an Overweight rating, he puts a $20 price target on the stock. Investors could be pocketing a gain of 59%, should this target be met in the twelve months ahead. (To watch Boruchow’s track record, click here) Turning to the rest of the Street, opinions are split almost evenly. With 3 Buys and 2 Holds assigned in the last three months, the word on the Street is that REAL is a Moderate Buy. At $17.25, the average price target implies 37% upside potential. (See RealReal price targets and analyst ratings on TipRanks) JELD-WEN (JELD) Next up we have JELD-WEN, which is one of the world’s largest door and window manufacturers. Calling JELD one of the firm’s “favorite Housing equities,” Wells Fargo thinks big things could be in store. Writing for the firm, analyst Truman Patterson tells clients that based on his channel checks, Windows and Interior Doors channel inventories are lean and delivery lead times have extended by 2-3 weeks. This led the analyst to conclude that “industry manufacturers across both products are running at or near full capacity.” It should be noted that over the last few years, JELD has had to deal with Windows’ production inefficiencies that “at times have been driven by an inability to adjust to rapid demand shifts.” This has shaken investor confidence, and led to a lower valuation, according to the analyst. That being said, Patterson sees better days on the horizon. “Despite the unexpected rebound in demand following COVID, leading JELD to ramp production near full capacity, we believe JELD has improved its Windows manufacturing operations as contacts suggest the company’s product quality control issues are a thing of the past. We give management the benefit of the doubt going forward as the Global Footprint rationalization and JEM initiatives are starting to gain traction, which represent a potential $200 million-plus EBITDA tailwind,” Patterson explained. On top of this, he argues improving manufacturing operations should lead to multiple expansion by itself. Adding to the good news, pricing announcements across both products are solid. Following unprecedented Interior Doors price hikes earlier this year, it appears both JELD and its peer Masonite are set on structurally improving the industry’s pricing, in Patterson’s opinion. Expounding on this, the analyst stated, “Further, it appears JELD has announced a nationwide 7%-11% Window price hike (3 points above normal), and major competitors have followed suit with hikes of similar magnitude. Given the aforementioned industry-wide shortages across both products, and the rapid rebound in New Res, we believe JELD will be able to realize at least the traditional 40%-50% of the announced pricing across its product portfolio.” So, Patterson sees JELD achieving North America 2021 pricing in the 4.5% range, and after some SG&A/investment inflation post-COVID, he expects 200-300 basis points of EBITDA margin expansion. “We do not believe the above is fully appreciated by the Street as JELD is only one of three equities in our 20 company HB/BP coverage that is flat or down year-to-date,” he noted. To top it all off, there has only been one manufacturing issue, driven by a badly-timed and unexpected product line reset from a large Home Center. “Given the robust demand environment which is likely depressing inventory levels at the Home Centers (HD/LOW’s SSS up 20%-30%), we believe the HCs will make sure not to disrupt their supply chain, and should be more receptive to price increases,” Patterson said. It should come as no surprise, then, that Patterson left an Overweight rating and $32 price target on the stock. To this end, the upside potential lands at 52%. (To watch Patterson’s track record, click here) Other analysts are more cautious about JELD. A Hold consensus rating breaks down into 3 Buys, 6 Holds and 1 Sell. With an average price target of $24.35, the upside potential comes in at 16%. (See JELD-WEN stock analysis on TipRanks) Associated Banc-Corp (ASB) Associated Banc-Corp takes its place as the largest bank headquartered in Wisconsin, with a total branch network of over 200 locations serving over 100 communities, primarily within its three-state footprint of Wisconsin, Illinois and Minnesota. While the company has had to work through some challenges, Wells Fargo believes it has taken steps in the right direction. Firm analyst Jared Shaw tells clients that although the Q3 results were mixed, he has high hopes for the banking player. A higher-than-expected provision expense fueled EPS of $0.24, $0.01 ahead of the consensus estimate. As for NIM, management thinks the 2.31% figure marks a trough, and that margin is set to improve from here. Credit was more of a mixed bag, as NCOs increased from 44 basis points to 49 basis points due to oil and gas (reserved at 15.3% rate), and NPAs expanded by 24 basis points thanks to the migration of two mall-oriented REITs. However, “deferrals were a bright spot,” with total deferrals dropping 69% from peak levels to 2.1% of loans, compared to its peers which average a 72% decline and 2.8% of loans in deferral. “Thus far, consumer loans that have seen their deferrals expire have had a 97% cure rate, giving us some optimism around the remaining balances,” Shaw mentioned. What’s more, the ALLL ratio increased by 8 basis points quarter-over-quarter to 1.60% ex PPP. “We expect little incremental build from here as we see the most at-risk areas adequately reserved and are encouraged by deferral trends,” Shaw commented. Adding to the good news, ASB was the first bank in Shaw’s coverage to highlight cost savings initiatives coming out of COVID-related shutdowns. These initiatives appear to be paying off, as the expense targets announced last month were reiterated. Q4 expenses are expected to be $175 million and 2021 expenses are forecasted to be $685 million, versus 2020’s $712 million estimated core expenses. Should the $685 million figure be reached, it would mark the lowest annual expense level since 2014. “With tailwinds from expense initiatives, likely improving NIM, shares trading at just 87% of current TBV, and a 5.1% divvy,” Shaw sees big things in store for ASB. In line with his optimistic approach, Shaw sides with the bulls, reiterating an Overweight rating and $18 price target. This target conveys his confidence in ASB’s ability to climb 31% higher in the next year. (To watch Shaw’s track record, click here) Looking at the consensus breakdown, 1 Buy and 3 Holds have been issued in the last three months. Therefore, ASB gets a Moderate Buy consensus rating. Based on the $15.67 average price target, shares could surge 14% in the next year. (See Associated Banc-Corp price targets and analyst ratings on TipRanks) Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Joe Biden likes to talk about ‘tax cuts for the wealthy’ — here’s the real story.
Michigan’s retirement system bought up AT&T, Ford, and PayPal stock in the third quarter, and slashed its position in Oracle stock.
If you’re married, you’ll often do better with a joint claiming strategy for Social Security benefits. As I wrote last time, that usually works best if the two spouses are close in age and if one spouse earned considerably more than the other did during their work lives. Divorced and widowed spouses can collect spousal or survivors’ benefits—benefits based on a spouse’s lifetime earnings—with some restrictions.
The current Medicare Plan G rates may surprise most Americans. Look for the right Medicare supplement plan for you!
Each week Trifecta Stocks identifies names that look bearish and may present interesting investing opportunities on the short side. Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet’s Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
Royal Dutch Shell, Cintas, Newmont, and AbbVie were among the companies that announced dividend increases this week. Exxon Mobil maintained its payout.
Compare 2020 top lenders to get matched with lenders curated for your needs in 2 min. A+ Rating with BBB. Over 15 million served since 2005. 2.39% APR
Alibaba and four other China internet stocks are in or near buy zones. They are somewhat shielded from U.S. and Europe coronavirus fears.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
(Bloomberg) — It was Andrew Swiger, the chief financial officer at Exxon Mobil Corp., who summarized the attitude of the whole industry after Big Oil ended reporting another dismal set of quarterly earnings: “Prices will have to rise.”After months of low oil and gas prices driven by weak demand, the world’s largest international oil companies have largely exhausted their financial defenses, leaving little room to maneuver if they’re dealt further blows. Exxon Mobil Corp., Chevron Corp., Royal Dutch Shell Plc, Total SE and BP Plc have already reduced 2021 spending probably to as much as they can.With the exception of perhaps Chevron and Total, which entered the downturn with the strongest balance sheets, leverage is approaching uncomfortable levels. Put together, Big Oil is now completely at the mercy of a worldwide rout in fuel demand that, absent a Covid-19 vaccine, shows no signs of abating, as well as OPEC+ leaders Saudi Arabia and Russia.“I will say that a lot of the performance of the company today, but also in the future, will depend on the macro environment that we will be enjoying or suffering as the case may be,” said Ben van Beurden, chief executive officer of Shell.Brent crude closed this week below $38 a barrel, bringing the year’s decline to 43%. At such levels, the industry is underinvesting in supply to such an extent that shortages are inevitable in the future, which means higher prices, Exxon’s Swiger argued. But a price recovery relies on two other things: higher demand and OPEC+ holding the line on production curbs, underpinned by the often uncomfortable alliance between Russia and Saudi Arabia.With U.S. Covid-19 cases hitting a record this week and new lockdowns looming across Europe, the virus and its impact on petroleum demand show no sign of abating. And for all the brainstorming of executives from Dallas to Paris, the oil supermajors account for less than 15% of pre-pandemic global oil demand. If supply discipline is to succeed, the heavyweight national oil producers will have to work together, and Crown Prince Mohammed bin Salman and President Vladimir Putin must continue to get along.One bright spot is U.S. shale production, which is in free all after a decade-long, debt-fueled surge that surprised the supermajors and loosened OPEC’s power over the oil market. Executives at some of the biggest U.S. independent oil producers believe America may never return to peak production seen earlier this year, and that further declines are likely in 2021.Big Oil CEOs can do little to foster geopolitical cooperation, but for the last six months they have been pulling all the levers they can to stop the bleeding of cash. Or in corporate jargon, they have focused on self-help: Curtailing unprofitable production, reducing spending and future investment, and firing tens of thousands of employees.Exxon is paradigmatic of the trouble the supermajors are in. A year ago, the Texas-based company was targeting 2021 capital expenditure of as much as $35 billion; now, it’s planning to spend half that. It announced this week it will reduce its staff and contractors by 15%, or 14,000 people, by 2022. Even then, Exxon is spending more than it’s earning, with capital and dividend outlays consuming all its cash from operations.Many in the market think the situation is unsustainable, and if prices don’t rise, Exxon will have to cave and cut the dividend for the first time in more than four decades. “The message is clear: Equity needs the protection of higher oil prices,” said Alastair Syme, a London-based analyst at Citigroup Inc.Shell and BP cut their dividends earlier this year but are still weighed down by high debt levels. Shell outlined an intention to increase the payout this week. Still, that would need higher oil prices, and take decades of small hikes to reach prior levels.Cost cutting appeared to bear fruit in the third quarter, with four of the five large Western majors posting profits on an adjusted basis. But they can only cut so far.Regaining RelevancyChevron, for example, plans to invest just $14 billion next year, even after recently buying Noble Energy Inc. That’s not far above the $10 billion level that the company has historically said is the minimum to sustain production. CFO Pierre Breber said the company would let oil volumes drop if it made financial sense. “We’re not trying to sustain short-term production,” he said.The question is not will Big Oil survive but whether it can still make investors care. BP and Shell are no longer the dividend linchpins of European stock markets. Exxon, the profit powerhouse that dominated the top spot on the S&P 500 Index for years, now ranks outside the top 50. Energy is now worth about 2% of the S&P 500 Index, making it a rounding error in many generalist fund managers’ portfolios.“Making energy relevant and investable again is the million dollar question,” said Jennifer Rowland, a St. Louis-based analyst at Edward Jones. “They’re still trying to figure that out.”For Rowland, having a compelling strategy in a low-carbon future is key. While that hands an advantage to the Europeans, who are pledging net zero emissions by mid-century, unlike Exxon and Chevron, BP and Shell still need a recovery in their traditional businesses to fund the move, Rowland said. With less cash, a green pivot becomes more difficult.Exxon’s Swiger is convinced that prices will recover. Things are so bad that prices across oil, refining and chemicals are “at or significantly below bottom of the cycle conditions,” he said. Whether Big Oil investors are willing to wait for that forecast to come true remains to be seen.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Exynos, Samsung Group, Mobile phone, Chipset, System on a chip
World news – US – Samsung unveils the next chip for mid-range Galaxy phones on November 12th