E Earth Day

Earth with clouds above the African continent

Source: Unsplash 

Happy Earth Day, fellow earthlings. And, by the way, we have a stock pick for Earth Day from an analysis shop and another from a magazine.

Once again the exchanges are unsure if they want to go up or down. Biden's threats have led Russia to withdraw its troops near the border with Ukraine, ending a possible confrontation with a fellow nuclear power. Vladimir Putin avoided any talk about foreign policy at a major Communist holiday. In Russia itself, there were major demonstrations in support of Alexei Navalny, who bravely returned to Russia after being cured in Germany from poisoned underpants. Putin knows he needs to give way gracefully, more a Khrushchev than a Stalin. That's the good news.

The bad news is that unemployment is down sharply which means the stimulus programs will end sooner than expected. The party booper is capital gains tax for the US as attempts to generate more revenues from corporate haven states, notably Ireland, have come a cropper.

Earth Day picks:

*Israeli-American Ormat which earlier this month ousted its chief compliance officer and another executive for bribery at another company before they moved to ORA, is now a come-back kid. Today the geothermal energy production and storage company was one of 5 Earth Day picks from Benzinga and as of this moment, it is up 3.1% on being picked. We have owned it long enough to still be behind on its doubled price in Jan. ORA reports on its Q1 May 6.

Autos

*Barron's picked UK Johnson-Matthey as a “sustainable technology” play. JMPLY gained 2.03% on the news. It currently makes catalytic converters which filter pollution from auto engines using platinum group metals, which are rising in price. JMPLY lost traction when it reported on its H1 2020-1 profits last Sept., off 90% because of virus cuts to demand. But it is broadening its business to control oil and gas pollution and just signed to open a new sustainable battery plant in Finland with a local partner for electric vehicles. As is often the case with the weekly, it reveals that JMAT-LSE is up nearly 17% YTD at £32.13 but fails to give its US ADR quote, JMPLY. It sets the market value at £5.8 bn and says it is at a 10% discount to rival green shares, quoting Jefferies analyst Andrew Douglas who has a target price for JMAT of £41. Hargreaves Lansdown analysts earlier this week warned that there may be problems if the new plant doesn't start fast because of the high demand for electric vehicles. The US share rose 6.25% at the opening before falling to $90.67, up over 2%.

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