Top Five Weekend Stock Stories - May 12, 2019

Catch up on the weekend's top five stories with this list compiled by The Fly:

1. On Saturday, President Trump said via Twitter that, "I think that China felt they were being beaten so badly in the recent negotiation that they may as well wait around for the next election, 2020, to see if they could get lucky & have a Democrat win - in which case they would continue to rip-off the USA for $500 Billion a year [...] The only problem is that they know I am going to win (best economy & employment numbers in U.S. history, & much more), and the deal will become far worse for them if it has to be negotiated in my second term. Would be wise for them to act now, but love collecting BIG TARIFFS! ... Such an easy way to avoid Tariffs? Make or produce your goods and products in the good old USA. It's very simple!" On Sunday he added that, "We are right where we want to be with China. Remember, they broke the deal with us & tried to renegotiate. We will be taking in Tens of Billions of Dollars in Tariffs from China. Buyers of product can make it themselves in the USA (ideal), or buy it from non-Tariffed countries [...] We will then spend (match or better) the money that China may no longer be spending with our Great Patriot Farmers (Agriculture), which is a small percentage of total Tariffs received, and distribute the food to starving people in nations around the world! GREAT! #MAGA"

2. Teva Pharmaceutical's (TEVA) chief financial officer reiterated that the company has done nothing wrong in the wake of a price-fixing lawsuit filed by 44 U.S. states, according to Reuters. Mike McClellan said the suit was an amended one and not new, while stressing it was civil and not criminal. "We take these accusations seriously and we are going to defend ourselves," he added. Connecticut and over 40 states and Puerto Rico filed a suit against some of the largest generic drug companies in the sector claiming that they illegally fixed the prices of generic medicines to maximize profits.

3. The latest investment in General Motors' (GM) Cruise division highlights the value of the company's stock, Al Root wrote in this week's edition of Barron's. Cruise got a new $1.15B investment from T. Rowe Price Group (TROW) and SoftBank Group (SFTBY), valuing the autonomous-driving unit at roughly $19B, but the stock hardly budged in reaction to the news, the report noted. Investors should be more excited and believe in the Cruise valuation, the author added, arguing that shares could jump 25% and still trade at a discount to historical averages if the company simply spun off the Cruise division.

4. Disney (DIS) and Marvel's "Avengers: Endgame" retained its number one position at the domestic box office for a third week in a row, earning another with $61.3M. The super hero movie's cumulative global box office is now $2.485B, with the film only second to James Cameron's all-time earner, "Avatar." Domestically, "Endgame" has earned $724M, passing "Avengers: Infinity War" and "Black Panther" to move up to the number 3 all-time stateside spot. The movie sports an A+ CinemaScore and a 96% Rotten Tomatoes score.

5. Sempra Energy (SRE), JPMorgan (JPM), NextEra Energy (NEE), Air Products (APD), Honeywell (HON), McCormick (MKC), Microsoft (MSFT), UPS (UPS), and J.B. Hunt (JBHT) saw positive mentions in this week's edition of Barron's.
 

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