Day: July 31, 2022

EV Battery
Solid State Battery

Tesla Inks Battery Materials Deals With Two Chinese Suppliers

(Bloomberg) — Tesla Inc. has signed new long-term deals with two of its existing Chinese battery-materials suppliers, the latest move by automakers to secure supplies amid intensifying competition. Zhejiang Huayou Cobalt Co. and CNGR Advanced Material Co. signed pricing agreements with the electric-vehicle giant for supplies until the middle of this decade, according to separate […]

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Big Oil
Crude Oil

Revenge of Old World Economy as Big Oil’s Cash Flow Rivals Tech

(Bloomberg) — Exxon Mobil Corp.’s cash haul overtook that of Alphabet Inc. for the first time since 2018, proving the oil giant is back in the big league just a year after suffering one of the biggest activist shareholder upsets in corporate history. Exxon, which lost money for the first time in its history during […]

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Banking Sector
Business Banking
Inflation Stocks

Banks Used to Provide Relief From Inflation. Now They Profit Big

(Bloomberg) — The last time inflation burned hot, consumers could put money in the bank and watch it grow like the prices on store shelves, easing much of the pain. Not this time — and that’s stoking profits for US lenders. The gap between what banks pay depositors and what they earn from lending money […]

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Energy Sector
Shale Oil

Shale Profits Finally Blossoming After Decade of Steep Losses

(Bloomberg) — US shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. The top 28 publicly traded US independent oil producers generated $25.5 billion in free cash flow in the three months to June 30, according to estimates compiled by Bloomberg. In that space of […]

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Diversified Oil and Gas services
Trade Of The Day
TradersPro Sunday

#1 Oil Stock To Buy This Week

SandRidge Energy, Inc. engages in the acquisition, development, and production of oil and natural gas primarily in the United States Mid-Continent. As of December 31, 2021, it had an interest in 817.0 net producing wells; and operated approximately 368,000 net leasehold acres in Oklahoma and Kansas, as well as total estimated proved reserves of 71.3 […]

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Inflation Stocks

Two US Cost Gauges Surpass Estimates, Stoking Inflation Concern

(Bloomberg) — Two key US inflation gauges posted larger-than-forecast increases on Friday, heightening concerns that prices will remain persistently high and prompt continued aggressive interest-rate increases from the Federal Reserve. The Labor Department’s employment cost index, a broad gauge of wages and benefits, increased 1.3% in the second quarter from the prior three months, compared […]

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Hedge Funds

Quants Exit $100 Billion of Inflation Bets in Big Market Shift

(Bloomberg) — Fast-money traders have just unwound about $100 billion of bearish stock-bond bets, helping the world’s biggest markets to recover from the worst first-half in history. In the past month, so-called commodity trading advisers have offloaded big short positions that were built around the idea of soaring inflation, according to analysis conducted by both […]

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