Ponder this .. Felicity Huffman paid a fine and will likely do small jail time .. and Lori Loughlin will pay a BIG fine and faces 20-40 YEARS in jail... for paying someone to get their children into college... Illegal immigrants bring their children into the country illegally and in California they get free healthcare, a drivers license, and discounted college tuition and get scholarships and financial aid.
WORKHORSE TO THE RESCUE!!!! .. well.. Sort of.. GM is selling the Lordstown factory it closed a few months ago (much to the chagrin and anger of our President) to Electric Truck maker, Workhorse. GM also announced it will spend $700 million in Ohio, separately. This would seem to get GM out of the "Presidential Doghouse" but the reality is that Workhorse has some serious financial issues and might never produce a truck there.. .. Then there is the "Work Stoppage/Strike" that "Wasn't". The Taxi and Limo alliance of NY announced there would be a work stoppage in NYC to protest congestion pricing but more importantly, the UBER IPO. Uber will be raising $90 Billion in an IPO. Some are angry that the "Drivers are underpaid and investors are getting rich". Well, 1) UBER still loses money. "Investors" that own it now or are buying are hoping/betting UBER eventually becomes profitable. 2) The IPO isn't going to change the price of rides and 3) From the Eight Drivers that made it to the "Protest", I kinda get the idea that the T&L Alliance is more of an activist group than representatives of Uber and Lyft Drivers.. The Loser Media is trying to report that there are "Protests Around the World" against Uber. Look closely at the pictures. Tight shots of the dozen "protesters" to make it look like a crowd. There are more reporters than protesters..and the protesters probably aren't even drivers.... Did you know that 11% of working Americans work for the Government? Doesn't that sound like too many? .. Do those Advertisements for Prescription medicines on TV annoy you? The ones that spend 30 seconds describing the disease then 30 seconds telling you the side effects?. President Trump says he is cracking down on those Pharmaceutical companies and will force them to include the PRICE of the drugs in the TV Ads. Hmmmm.. You think that will stop them? Or will it just add a few seconds to the "Disclaimer part" that no one listens to anyway? .... Down in the Swamp, President Trump declared the redacted information in the Mueller report could not be legally released because it is part of Grand Jury testimony. House Judiciary dope, Nadler subpoenaed it anyway.. So, yesterday, Trump declared "Executive Privilege" over the entirety of the report. Game Over. Of course, Nadler elected to have his committee cite AG Barr for Contempt, which they did because Democrats control the committee. Now, it will go to the House for a Vote, even though it's meaningless since "Executive Privilege" was declared. For all you nadler likers, go back to the "Starr Report" when nadler said it cannot be released because it contained Grand Jury testimony. (Not kidding, google it.. oh, Nadler is the one in the videos that looks like he weighs 400 pounds. He must have done that gastric bypass at some point.). Partisan Hack. The Sad reality is that his buffoonery and flip-flopping do not matter. In most districts of NY there is NO chance of a Republican getting elected..and the DNC has strict policy about Reps supporting candidates that challenge incumbents. That sound like COLLUSION to you? It should!! .. While nadler wasted our time in DC, Speaker Nancy Pelosi spoke in NY and said things like, "Trump is TRYING to get us to impeach". The Loser media ate this up.. but I watched some of the video. She was (lamely) making jokes. She was trying to get laughs from the crowd and there was awkward "half laughs" and "is she serious or is she off her meds" looks.. and inMongolia, a couple has died after contracting Bubonic plague. (Yes, that is the BLACK PLAGUE that killed 1/3 of Europe at one point). The couple contracted it by eating raw Marmot meat and kidneys. I guess that means I am safe because I would STARVE to death before I ate that!! (GROSS!!!!) .. I will be going to my closet and Burning my Marmot Ski Jacket, Just to be Safe!!! .. SPORTS: NHL: Sharks beat the Avalanche 4-3 in Game 7. They advance to play the Blues. Carolina plays Boston tonight. (Blues v. Bruins is my call) .. NBA: Milwaukee crushes Boston 116-91 and takes the series 4-1. Golden State wins 104-99 to go up 3-2 on Houston. ... GOLF: PGA: Byron Nelsonin Dallas starts today. I am setting the line of "Tony Romo Missing the Cut"at "By 8 shots" ..it would be higher but the course is in Dallas and I am sure Romo has played it a bunch.. ...and..it took a while.. But, with last nights win over the lowly Orioles, the Bahhstaahnn Red Sawx are Finally .500 !! .. CELEBRIDIOTS: In a neighborhood that includes the Playboy Mansion and Michael Jackson's old mansion, there was a giant gun bust. Acting on an anonymous tip, the ATF found over 1,000 illegal guns. Assault rifles.. ammo. It looks like a Colombian Drug Cartel bust. HERE .. You think the homeowner will be someone famous? .. Singer/Rapist R Kelly is in court and his lawyers are trying a simple defense, "The reason Mr. Kelly never responded to the plaintiff's lawsuit is that he cannot Read". Gotta say, that's SAD ..but it might be true .. The Markle/Harry Royal Baby name is "Archie" ...Archie Harrison Mountbatten-Windsor. Can I ask why this is such a big deal in America? It's ALL OVER the press. He isn't even an official Prince.. and its not even AMERICA's Royal Family... SI Swimsuit will have three covers, Tyra Banks, Camille Kostek, and soccer player Alex Morgan. You know what I think? I think SI needs to hire RAJ to pick the cover girls .. and I am filing an official grievance .. and might have a Strike and Protest.. Against YOU.. YOU the Readers!!! Not ONE of you pointed out that I have ENTIRELY missed Fernanda Liz..... HERE and HERE .. The ONLY way you're talking your way out of this one is if you hit me with the "She's a little too skinny.. she needs to eat a pizza or two, first. Then we'll bring her over to meet you."
U.S. stock futures point to a lower open as trade tensions escalate. China's vice premier arrives in Washington for trade talks even as the country warns that it will retaliate if President Trump makes good on his threat to boost tariffs on Chinese goods Friday. Hong Kong's Hang Seng Index closed down 2.4%, and the Shanghai Composite Index fell 1.5% after China reported weaker-than-expected lending data for April. Major indexes are also falling in Europe. Crude oil, down 0.5%, also got caught up in the downdraft. Meanwhile, investors have turned to safe havens. The 10-year Treasury has rallied, pushing yield down almost 4 basis points to 2.45%. U.S. economic data on tap this morning include international trade, producer price index and wholesale trade.
President Trump amped up rhetoric about a Friday deadline to raise tariffs on Chinese goods with comments at a political rally Wednesday night, sending Asian markets lower. "They broke the deal," he said, but "don't worry about it," suggesting there's "nothing wrong with taking in $100B a year" in tariffs. Doubters already wondered whether a U.S. visit from China's Vice Premier Liu He could avert the new tariffs.
Nestle (OTCPK:NSRGY) plans to roll out the vegan 'Awesome Burger' in the U.S. this fall to complement the Incredible Burger products sold at 1.5K outlets across Europe. The food and drink company plans to carry the vegan burgers in U.S. retail stores, quick-service restaurants and food service operators. "I think we have a lot to show in this area," CEO Mark Schneider told CNBC. Nestle's expansion in the plant-based food area will place it in competition with Beyond Meat (NASDAQ:BYND), which investors have bid up by 189% over the meat substitute upstart's IPO pricing level in just a week.
Tech giant SoftBank Group (OTCPK:SFTBY) has engaged Nomura (NYSE:NMR) and Goldman Sachs (NYSE:GS) as it shifts ownership of Yahoo Japan (OTCPK:YAHOY) to let its affiliates collaborate more easily - a nice win for Nomura after its first annual loss in 10 years. SoftBank Group will sell its 36% holding to Yahoo Japan, which will cancel the shares and then separately offer new shares for sale to mobile subsidiary SoftBank Corp. for about $4.1B.
Fox (FOX, FOXA) and The Stars Group (NASDAQ:TSG) surged in post market trading Wednesday evening as the two announced a unique partnership that gets Fox Sports into sports betting. Under an umbrella concept called FOX Bet, the two companies will initially launch a free-to-play game with cash prizes as well as a real-money wagering game in states where that's allowed. The deal includes Fox taking about a 5% stake in The Stars Group.
Aimed at sharpening its focus as it digests the Shire acquisition, Takeda Pharmaceutical (NYSE:TAK) has agreed to sell its Xiidra 5% eye drop to Novartis (NYSE:NVS) and its TachoSil Sealant Patch to Johnson & Johnson (NYSE:JNJ) unit Ethicon. Under the Novartis transaction, Takeda will receive $3.4B in upfront cash and up to $1.9B in milestones. Ethicon will pay ~$400M in upfront cash to acquire the surgical patch designed to control intraoperative bleeding.
Toyota (NYSE:TM) and Panasonic (OTCPK:PCRFY) will team up on a venture to work on technology to provide the "connected" home with personalized services. They're already partners, collaborating in a joint venture to build electric-vehicle batteries, but a new revenue stream could ease concerns that automakers and their suppliers are facing as new entrants heat up competition in auto manufacturing.
BlackRock's (NYSE:BLK) withdrawal from the proposed deal increases the possibility that the Italian government may have to bail out Banca Carige (OTC:BCIGY). BlackRock, which was to have bought about half a 720M euro ($806M) share issue, rejected the proposed deal for reasons including excessive risk. The deal would have given BlackRock control of Italy's 10th-largest bank.
What else is happening...
Canadian licensing changes boosts pot stocks.
Wednesday's Key Earnings
Disney (NYSE:DIS) +1.6% AH amid gains in parks, Fox, direct-to-consumer. Energy Transfer (NYSE:ET) +1.6% AH on record adjusted EBITDA, distributable cash flow. CenturyLink (NYSE:CTL) -1.6% AH on revenues miss; reviewing consumer business. Roku (NASDAQ:ROKU) +7.8% PM as Q1 metrics soar, financials top consensus. Sarepta Therapeutics (NASDAQ:SRPT) +1.8% AH on Q1 EXONDYS 51 demand. Albemarle (NYSE:ALB) +1.7% AH on Q1 revenue beat, FY guidance. Sangamo Therapeutics (NASDAQ:SGMO) -4.5% AH as Q1 revenues dip 36%. Nuance Communications (NASDAQ:NUAN) +1.5% AH amid higher income in fiscal Q2 beat. Applied Optoelectronics (NASDAQ:AAOI) -9% AH on Q1 miss, dim guidance. Sabra Health Care REIT (NASDAQ:SBRA) +1.5% AH despite Q1 FFO and revenue decline. Conduent (NYSE:CNDT) -20% AH on poor Q1 results, CEO step-down. Etsy (NASDAQ:ETSY) -6% PM on light revenue.
In Asia, Japan -0.9%. Hong Kong -2.4%. China -1.5%. India -0.5%. In Europe, at midday, London -0.41%. Paris -1.26%. Frankfurt -0.74%. Futures at 6:20, Dow -0.83%. S&P -0.82%. Nasdaq -0.98%. Crude -0.52%to $61.80. Gold +0.27% to $1,284.90. Bitcoin +2.8% to $6,261. Ten-year Treasury Yield -3.7bps to 2.446%.
Today's Economic Calendar 8:30 Initial Jobless Claims 8:30 International Trade 8:30 Producer Price Index 8:30 Jerome Powell: “Renewing the Promise of the Middle Class” 10:00 Wholesale Trade 10:30 EIA Natural Gas Inventory 10:45 Fed's Bostic: Economic Outlook and Monetary Policy 1:00 PM Results of $19B, 30-Year Note Auction 1:15 PM Fed’s Evans: “Renewing the Promise of the Middle Class” 4:30 PM Money Supply 4:30 PM Fed Balance Sheet Companies reporting earnings today »
Roger “Raj” Searing firstname.lastname@example.org
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