Weekend Reading Summary

Weekend Reading Summary

Macro Related

  • Joe Biden leads the national race for the Democratic nomination with 27% followed by Senator Elizabeth Warren at 23% and Senator Bernie Sanders at 19%. Mr. Biden and Ms. Warren both top President Trump in a general election matchup by 9 and 8 points respectively. Americans are divided on impeachment by party. WSJ
  • Commerce Secretary Wilbur Ross is optimistic that phase one of the China trade deal will be signed and is considering IA, AK, and HI as possible locations to sign the trade deal. He will also grant licenses for US companies to sell to Huawei "very shortly" (FXI, MU, LITE, FNSR, QCOM). Bloomberg
  • Commerce Secretary Wilbur Ross says US may not need to initiate auto tariffs on EU imports (VGK, CARZ, BMWYY, VWAGY, FCAU, F, GM). Bloomberg
  • Argentina's President-elect Alberto Fernandez is supportive of recent capital controls (ARGT, BMA, YPF, GGAL, SUPV, TGS, EDN, LOMA, CEPU, PAM, TEO). LA Nacion

Stock Specific

  • Positive views on DEO, MOMO, HUYA, BABA, TCEHY, NVDA. Barron's
  • Positive views on T, SLB, ABBV, SPG, IRM. Barron's
  • Positive view on Fiat (FCAU). Barron's
  • Positive view on Compass (CODI). Barron's
  • Positive view on Garmin (GRMN). Barron's
  • Positive views on FSLR, ALB, NEE. Barron's
  • The Trump administration is aiming to ban flavored vaping products with exemptions only for tobacco and menthol flavors (MO). Axios
  • California Governor Gavin Newsom will meet with PG&E (PCG) executives, shareholders, and wildfire victims next week. Reuters
  • Saudi Aramco has started its IPO process and bankers say it could be valued at around $1.5 trillion (USO, XLE). Reuters
  • A criminal case against Boeing (BA) over 737 Max would be challenging. WSJ
  • Fiat (FCAU) and Peugeot (PEUGY) are expected to sign binding merger by next month. Reuters
  • Apple (AAPL) has requested tariff exemption on iPhone parts, Watch, an AirPods. Bloomberg
  • Federal officials are investigating Under Armour (UA) over accounting issues. WSJ
  • Delta (DAL) might end bidding process for Alitalia. Bloomberg
  • One person is dead after eating beef contaminated with salmonella (TSN, SAFM, HRL). NBC News