China Stock Market in Trouble
Back in August, I was amazed at how fast everyone discounted the China meltdown. Momentum trumps reality in the new trading world we live in.
The story is back and greeting traders with a resounding thump, as price action across the globe trades lower.
China Halts Stock Trading After 7% Rout Triggers Circuit Breaker
The worst-ever start to a year for Chinese shares triggered a trading halt in more than $7 trillion of equities, futures and options, putting the nation’s new market circuit breakers to the test on their first day.
Trading was halted at about 1:34 p.m. local time on Monday after the CSI 300 Index dropped 7 percent. An earlier 15-minute suspension at the 5 percent level failed to stop the retreat, with shares extending losses as soon as the market re-opened. Traders said the halts took effect as anticipated without any major technical problems.
Continue reading on bloomberg.com
China stock trading halted after steep drop
Asian markets tumbled Monday on the first day of trading in 2016, with declines so steep in mainland China that authorities halted trading there for the rest of the day.
Analysts cited a number of reasons for the selling, including China’s disappointing manufacturing data, reported earlier Monday, and the coming removal of a ban on major shareholders from selling stakes, put in place during the summer stock crash.
Continue reading on marketwatch.com
Fit Bit Struggles to Find a Market
This stock was a nice story but quickly got steamrolled by competitors. The Fit Bit is a nice, tool for working out and gives you the core basic metrics to feel good and keep on going.
The problem is, it was easy to copy. Once there was market validation, a swarm of new, and better looking replacement entered.
I think the stock is toast. Losing a competitive advantage as quickly as they did is amazing.
Fitbit’s Total Addressable Market Hype May Leave Investors With Disappointment
There has been a great deal of sound analytics surrounding the Fitbit (NYSE:FIT) story since the IPO. While the company has handily beaten most metrics and expectations the stock itself hasn’t exactly performed in kind since its August peak and latest Q3 2015 performance results.
While there are a number of concerns that can point to the stock’s underperformance as of the fall and holiday selling season, the most obvious one is what we will discuss more prominently in this article.
Continue reading on seeking alpha.com
Oil Related News
Prices at the pump began to crawl higher this morning. The sub $2.00 prices didn’t last long. I know a lot of traders who have tried to pick a bottom in oil the last 12 months. It may be time to start building a position. I was looking for capitulation, we may not get it.
Iran says boosting oil exports depends on future demand
A rise in Iran’s crude oil exports once sanctions against it are lifted depends on future global oil demand and should not further weaken oil prices, senior officials were quoted as saying.
Oil Minister Bijan Zanganeh said Iran did not plan to exacerbate an already bearish oil market.
“We are not seeking to distort the market but will regain our market share,” said Zanganeh, quoted by oil ministry news agency Shana.
Oil prices are likely to come under further pressure this year, when international sanctions on Iran are due to be removed under a nuclear deal reached in July. Brent crude settled at $37.28 a barrel on Thursday.
Iran has repeatedly said it plans to raise oil output by 500,000 barrels per day post sanctions, and another 500,000 bpd shortly after that, to reclaim its position as the Organization of the Petroleum Exporting Countries’ second-largest producer.
“The decision on the amount of exports highly depends on the future condition of the market. We will raise our market quota steadily,” said Mohsen Qamsari, director general for international affairs of the National Iranian Oil Company (NIOC).
Continue reading on reuters.com
Stock Market News 1-4-16
China factory conditions weaken for 10th month: private survey (Fell to 48.2 in December from 48.6 the previous month) Caixin/Markit index
China markets suspended for the day after 7pc fall triggers second stage of circuit breaker South China Morning Post
Saudi Arabia cuts diplomatic ties with Iran Al Jazeera
ORAN.PA BOUY.PA Orange-Bouygues tie-up talks in France advancing: report ($10.86 billion in cash and shares) Reuters
BABA Alibaba’s Finance Arm Said to Seek at Least $1.5 Billion Bloomberg
BAM Brookfield and KIC buy Berlin real estate (€1.3bn deal) Financial Times
SHPG BXLT Shire may be close to deal to acquire Baxalta ($46.50-48/share) USA Today
SHPG Shire’s next deal could be “transformational” – part 6 Betaville
SWHC RGR CAB (not mentioned) State Focus and Infusion of Funding Buoy Gun Control Advocates NY Times
ONDK JPM RF BAC Big Banks Start to Embrace Startups (Established firms look for partners on small-business loan.) WSJ
AXP BAC V USB Fidelity Drops AmEx, BofA As Credit Card Partners; Chooses Visa, U.S. Bancorp Reuters
BiDU China’s growing online delivery services feed office workers, smog avoiders Shanghai Daily
SSNLF (WHR not mentioned) Here are official photos of Samsung’s crazy fridge with a giant touchscreen The Verge
Pico projector unit sales growth estimated at 50% in 2015, says PMA Research (Broadened adoption of personal projectors and introduction of new brands drove healthy sales.) Digitimes
GOOG (not mentioned) Why Internet Users Abandon Digital Videos (buffering takes too long) eMarketer
SWHC RGR CAB (not mentioned) Years of NRA tax filings are loaded with apparent falsehoods (The National Rifle Association isn’t honest when it comes to recording its lobbying and political activities.) NY Post
CXW GEO (not mentioned) Op-Ed Contributors: What’s Going On in Our Prisons? NY Times
MAKSY M&S’s loyalty card boss leaves firm shortly after launch Reuters
DEO Diageo completes sale of US and UK wine interests for $552m Irish Independent
NXPi NXP Israel closes Herzliya center, fires 150-200 Globes
GCi Newsquest/Gannett forced to change policy over remote subbing The Guardian
Politics SWHC RGR CAB (not mentioned) Donald Trump says he will end any gun-control executive action implemented by President Obama LA Times
Linger NOC KTOS Northrop Grumman Builds the Biggest Laser Gun Ever The Motley Fool
Opinion YHOO Marissa Mayer is throwing around money like Marie Antoinette NY Post
Opinion Solvency II rules set to spark M&A surge in insurance sector Financial Times
Fact Malaysia Issued a Fatwa on Vaping Motherboard
Pharmaceuticals – Healthcare – Biotech
TEVA Teva raises extra $658m in underwriters’ options Globes
More People Turn to Faith-Based Groups for Health Coverage (Certain insurance commissioners say health-care ministries could put consumers in a precarious position.) WSJ
Xinjiang Technical Institute of Physics and Chemistry Chinese researchers find flavonoids in cotton petals to treat Alzheimer’s Xinhua
HSY (not mentioned) New Study Heavy sugar consumption increases risk of breast, lung cancer University of Texas MD Anderson Cancer Center
REXR Rexford Industrial Acquires Industrial Property for $17.1 Million Press Release
Opinion AZN AstraZeneca Needs to Set Itself Free (Long-term growth, strength of pipeline should be prioritized.) WSJ
Opinion Former NFL players call for medical marijuana to be taken off banned list The Guardian
Opinion PG (Nyquil not mentioned) Blue Lotus Medicinals Marijuana ‘Kush Tea’ Is The Best Way To Medicate While Dealing With A Chest Cold Weed Blog
Futurelook Tough decisions await FDA on e-cigarettes, generic drugs Boston Globe
MGMB DiS Vice Media (private) Hearst CEO Talks ESPN, Vice Media and ‘Stellar’ Mark Burnett-MGM Sale Variety
TWX Obama Town Hall on Gun Violence to Air on CNN Variety
Futurelook Soon We Will be Able to Design Custom Sounds with Voice And Gesture Gizmodo
SQNFX Final Fantasy IX coming to PC, mobile, FF XV to launch 2016 SlashGear
ATVi Call of Duty Black Ops 3 Begins 2016 at Top of UK Charts GameSpot
WYNN LVS MPEL Macau gaming revenue falls to MOP231 bln in 2015 Macau Business
Macau SJM announces staff bonuses for 2016, union says Macau Business
Opinion What Happens When Virtual Reality Gets Too Real (changes the way you think and behave) WSJ
Opinion What Does Virtual Reality Do to Your Mind and Body? (The mental impact of lifelike virtual experiences is just one of the difficulties for virtual reality, a technology that, after decades of hype, may at last have its commercial moment this year.) WSJ
FB LNKD Pinterest Digital Buyers in Germany Hang Back from Social Media eMarketer
TWTR Here’s what you can no longer say on Twitter Washington Post
FB Who Controls Your Facebook Feed (you only see a tiny fraction of your overall community of friends posts) The Slate
Travel – Hotel
CTRP QUNR TOUR (not mentioned) China witnesses travel peak on last day of New Year holiday China Daily
New startup launches to add zing to Southeast Asia’s budget hotel battle (And the most recent entrant to this area is Indonesia-based Nida Rooms.) Tech in Asia
Fact AiR.PA Here’s The Crazy Wing Bending Airbus Does To Stress Test Its Aeroplanes Gizmodo
Hyundai, Kia forecast slowest sales growth in 10 years Bloomberg News
TSLA 1st “CleanTechnica Car of the Year” Is… Clean Technica
TSLA Tesla vows to ramp up production in 2016 (Tesla informed shareholders it delivered a unimpressive 50,580 cars last year, but it intends to raise the stakes big time this year.) CNN
TTM Jaguar wants to stay exclusive while rapidly growing model lines Digital Trends
Renault India domestic sales zoom over two-fold in Dec Economic Times of India
TKTDY HMC Honda says not considering new lending to Takata Reuters
TKTDY Takata Emails Show Brash Exchanges About Data Tampering NY Times
UK Motoring Surge in new car sales as buyers go for 161-reg plate Irish Independent
Sports car sales zoom as economy roars Irish Independent
Opinion In China’s Car Market, Price Matters More Than Volume (Investors should be cautions of too many cars and too low costs.) WSJ
SSNLF (BBY not mentioned) Samsung Goes After Sonos With A New Wireless Soundbar System Techcrunch