Monday Morning Reads

Monday Morning Reads



  • China will delay data restrictions for foreign companies as trade talks continue (XLK). FT Report
  • Saudi Arabia will consider end of Iran sanction waivers before deciding on oil output (USO, XLE). Reuters Report


Weekend Reads:
  • Cautious view on Spotify (SPOT). Barron's Report
  • Cautious view on Boston Beer (SAM). Barron's Report
  • Positive views on UNH, ANTM, CI, HUM, CVSBarron's Report
  • Positive view on Intel (INTC). Barron's Report
  • Cautious view on Zoom Video (ZM). Barron's Report
  • SEC and Tesla (TSLA) CEO Elon Musk have extended settlement talks by another week. Fortune Report
  • Hundreds of people sign petition to support student's misconduct allegations against (JD) CEO Richard Liu. Reuters Report
  • Production and weak oversight are under scrutiny at Boeing (BA) Dreamliner planet in South Carolina. NY Times Report
  • Anglo American (NGLOY) aims to fend off takeover bid from Volcan ­Investments. Telegraph UK Report
  • Federal investigators are looking at Facebook (FB) CEO Mark Zuckerberg's past statements on privacy. Washington Post Report
  • Wells Fargo (WFC) is being accused of misleading homeowners in new class action lawsuit. NY Post Report
  • Cannabis app Eaze crashed due to increased demand on marijuana holiday (TLRY, MJ, CGC, NBEV). Bloomberg Report
  • Fiat (FCAU) to recall 300k cars over rolling issue. Bloomberg Report
  • Kroger (KR) online business is struggling. WSJ Report
  • JP Morgan (JPM) to increase use of blockchain. FT Report
  • US officials believe Huawei Technologies is funded by China state security (FXI). Reuters Report
  • Tesla (TSLA) will present self-driving car technology tomorrow. WSJ Report
  • US refiners are planning plant overhauls in Q2 (TSO, VLO, XLE). Reuters Report
  • The Trump Administration has opposed military intervention in Iran (USO, XLE). Axios Report
  • Bipartisan deal on drug prices is looking more probable (IBB). Axios Report


Futures are lower after the Easter long weekend that could make Monday the quiet before one of the busiest weeks of the earnings season so far. Earnings reports before the bell today include Halliburton (NYSE:HAL) and Kimberly-Clark (NYSE:KMB), while Whirlpool (NYSE:WHR) and Celanese (NYSE:CE) are among those reporting after the close. Big names printing later in the week include Procter & Gamble (NYSE:PG), Twitter (NYSE:TWTR), Facebook (NASDAQ:FB), Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA), Amazon (NASDAQ:AMZN), Ford (NYSE:F) and Chevron (NYSE:CVX).

Oil spikes as U.S. prepares to end waivers

The U.S. is preparing to announce today an end to sanctions waivers granted to importers of Iranian oil last year, according to Reuters and Washington Postsources. Oil prices spiked on the news, with Benchmark crude oil futures up 2.6% and U.S. West Texas Intermediate up 2.3% in early trading.

Tesla will webcast Autonomy Day

Tesla (TSLA) will webcast its Autonomy Investor Day today on YouTube at 11 a.m. Pacific. The company will present its self-driving technology roadmap. Rumors suggest Tesla will demo the latest developments in its Full Self-Driving system and Elon Musk could tout his ultimate promise: robot taxi fleets.

Samsung cancels Galaxy Fold launch event

Samsung (OTC:SSNNFOTC:SSNLF) has postponed its April 24 launch event for the Galaxy Fold in China. The company didn’t provide a reason or a new event date. Journalists reviewing the premium devices experienced screen issues after removing a protective film. Samsung said it was looking into the matter. The premium foldable device is meant to launch in the U.S. and other select markets on April 26.

Huawei’s new accusation, first quarterly print

The CIA has reportedly accused Huawei of being funded by Chinese state security amid US-China tensions about concerns the tech company’s equipment could be used for espionage. The political pressure apparently hasn’t hurt Huawei, with the company reporting its first quarterly results and a 39% Y/Y revenue growth. Bad news for Huawei is generally seen as good news for Nokia (NYSE:NOK) and Ericsson (NASDAQ:ERIC).

Boeing workers doubt Dreamliner quality

In a New York Times report, Boeing (NYSE:BA) workers say production of the 787 Dreamliners also faced production issues with the company culture reportedly valuing “production speed over quality." A former Boeing quality manager turned whistleblower says he hasn’t yet seen a plan out of that production that he’d “put my name on saying it’s safe and airworthy.” Boeing denies the claims.

Fastly files for $100M IPO

Edge cloud platform Fastly (FSLY) has filed for a $100M IPO to list on the NYSE. The company competes with Akamai (NASDAQ:AKAM) and Limelight (NASDAQ:LLNW) in legacy CDNs and traditional data center and appliance vendors like F5 (NASDAQ:FFIV) and Citrix (NASDAQ:CTXS). The IPO could value Fastly at more than $1B.

Sinclair top bidder in Fox RSN auction

Bidding for the former Fox regional sports networks has reached its endgame with Fox (NASDAQ:FOX) Business reporting Sinclair Broadcast Group (NASDAQ:SBGI) has placed the top bid. Sinclair is reported to have bid about $10B for the nets, which Disney (NYSE:DIS) is selling as a regulatory requirement for the completed Fox media asset acquisition. Other bidders included Liberty Media (NASDAQ:FWONA), Major League Baseball and Ice Cube's Big3 basketball league.

What else is happening...

JPMorgan (NYSE:JPM) to widen use of blockchain system.

ETF to invest in growing space economy.

Battered health insurers look like a buy: Barron's.

Spotify (NYSE:SPOTis risky: Barron's.

FDA okays first non-drug treatment for ADHD.

FDA okays Teva's (NYSE:TEVA) generic NARCAN nasal spray for opioid overdose.

Novartis (NYSE:NVS) discloses death in European study of gene therapy for SMA.

Today's Markets 
In Asia, Japan +0.14%. Hong Kong closed. China -1.70%. India -1.35%.
In Europe, at midday, London closed. Paris closed. Frankfurt closed.
Futures at 6:20, Dow -0.25%. S&P -0.28%. Nasdaq -0.33%. Crude +2.3%to $65.54. Gold +0.40% to $1,281.10. Bitcoin +1% to $5,326.
Ten-year Treasury Yield +1.2bps to 2.57%.

Today's Economic Calendar
8:30 Chicago Fed National Activity Index
10:00 Existing Home Sales

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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