E COVID-19 Relief Bill Passed

*Mercado Libre fell back 2.6% today after opening at $1700, which was probably a target for sellers, a year's high, and a round number. MELI is the top interent and funding site in Latin America.

*Mizuho brokererage rated Qualcomm QCOM a buy with a target price os $163, up $9.

*Naspers NPSNY of Japan fell 2.4% today after a warning about its ability to sell consoles and games after the COVID-19 crisis ends, to $39.08. We sold half last month fearing Xmas toy rivals.

*Vodafone is in the black by 0.6% today, VOD as the quickest way out of Britain (and into Europe.)


Energy

*Israeli-US geothermal energy generator and storage firm Ormat Tech ORA of Reno, NV, acquired another energy storage firm in Upton County Texas, which probably doesn't use waterfalls to store energy, given that Texas doesn't have much-falling water. The buy is of the solar power system Luninant, a sub of Vistra Energy (NYSE-VST) which gained 75¢ over the last two trading days. ORA stock rose 3.3% on the news (posted Friday after the close) to $87.7. No details on what ORA paid. It already produces thermal power in Hawaii, Latin America and the Caribbean, Indonesia, and Kenya.

*BP plc which recuperated at the opening later lost 0.03¢ while Royal Dutch Shell (RDS-B) was flat and Schlumberger Ltd (SLB) gained 0.02¢. The oil outlook is not clear. Oil prices fell a bit.

*After soaring last week, Atlantica Sustainable Infrstructure PLC (AY) crashed 9.2% today. As Harry pointed out you can collect the dividend tax-free as return on capital but when and if you sell AY you will be taxed for the different from your purchase price. That is a reason to continue to tap into AY via is part parent Algonquin Power, AQN, up 0.46% today.

*Azure Power AZRE of Mauritius is up 9.86% in part because while it sells solar power systems to India almost exclusively, it is not part of the increasingly troubled Narendra Modi millionaire buddy list. It is effectively controlled by the Quebec Caisse de dépôts and the private sector investing arm of the World Bank, the International Finance Corp. It is our best performer today.

View single page >> |
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Flat Broke 1 month ago Member's comment

Thank God. I can't believe #Trump decided to initially go play golf rather than sign this bill and leave us all in limbo. The anxiety he put millions of Americans through is unconscionable. This man is not fit to serve.