Norway’s Oil Fund to Sue Volkswagen

Norway’s $850 billion oil fund is meaning to sue Volkswagen AG over its emission-cheating scandal that caused a recall of 11 million cars in the previous year.

The world’s largest sovereign wealth fund stated on Sunday that it plans to join the class-action lawsuits in Germany against the automaker, anticipated to be filed in the coming weeks.

Marthe Skaar, the fund’s spokeswoman said: “Norges Bank Investment Management intends to join a legal action against Volkswagen arising out of that the company provided incorrect emissions data.” The NBIM is assessed to have suffered big losses on its stake on VW after the scandal—a total of 4.9 billion crowns in the fund’s second quarter.

Skaar also added, “We have been advised by our lawyers that the company’s conduct gives rise to legal claims under German law. As an investor it is our responsibility to safeguard the fund’s holding in Volkswagen.”

The Norwegian wealth fund recently urged U.S. oil companies Exxon Mobile and Chevron to do more to report on climate change risks as well.

VW confessed that it had used sophisticated secret software in its cars to cheat exhaust emissions tests. This scandal led to the biggest earnings lost in VW history in 2015, prompting the company to set aside $18.2 billion to cover the costs.

“Something this big doesn’t just go away quickly and the costs are spiraling,” Joe Rundle, head of trading at ETX Capital, mentioned in a note. “And if the Norwegian fund is suing VW because the company’s actions led to losses on its investment, then it could open to door for other shareholders to seek redress.”

VW reached an almost $10 billion contract with the U.S. government in April to buy back or repair about a half million of its diesel cars and establish environmental and consumer compensation funds.

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Alibaba Lower After Acquisition and Strategic Plans

Alibaba failed to perform well in the market on Monday after its consecutive announcement of acquisition and investment plan over the weekend.

Alibaba and Bona Films

After the Chinese e-commerce juggernaut defeated Walmart as the leading retailer globally, Alibaba confirmed that it has taken more than 8 percent stake in Bona Films prior to the privatization of the Chinese film company to boost the development of the country’s film and television industry.

According to Alibaba Pictures Chief Executive Zhang Qiang, the Alibaba pictures wanted to make an ecosystem and platform covering the whole value chain of the film and TV industry which correlates with the mission and vision of Bona.

Prior to the bet of Alibaba on Bona Films, it invested in Tom Cruise’s infamous movie series Mission Impossible: Rogue Nation. Afterwards, Alibaba made a partnership with Paramount Pictures on the advertisement and promotion of the said movie in China.

Last year, Alibaba had a $4.2 billion worth of purchasing transaction with one of the biggest video sites in China, Youku Tudou. It was followed by its acquisition by one of the film and TV production giants in China Enlight.

Additionally,  Alibaba Pictures is on set to collaborate with David Ellison’s Skydance media to provide the financial needs of the first original movie to be featured internationally. The recent activities of the e-commerce giant is believed to be a clear indication of its growing interest in the entertainment business.

Alibaba and Mondelez International

Aside from financing Bona, Alibaba sealed a strategic business deal with American based multinational confectionery and beverage conglomerate company. Mondolex International announced that Alibaba Group would be its official partner in bringing its brands to the Chinese consumers through the e-commerce online marketplace.

Based on the statement released by Tim Cofer, chief growth officer of Mondolez, the capability of Alibaba to bring its brands to the Chinese consumers was what captured them. He said that snacking is a fast growing sector fro the e-commerce market in China and Alibaba is a powerful partner to help us capture our share of that growth by expanding our distribution channels and improving their brands accessibility in both rural and urban Chinese markets.

Jet Jing, Vice President of Alibaba Group, expressed his excitement towards the new strategic plan of the company . He commented that they want to help the American food and beverage company to utilize their e-commerce ecosystem and technology infrastructure to successfully build their brands and effectively reach the active buyers on their China retail marketplaces.

It was disclosed that the two companies will work together on branding and advertising solutions, consumer insight, product innovation, expansion of sales, cloud computing and distribution channels. Brands including Toblerone, Cadbury, belVita and Oreo will be available soon on the platform of Alibaba.

Alibaba Shares Fell

Shares of Alibaba changed hands lower at $77.50, a decline of 0.14 percent or 0.11 points with a market capitalization of $194.36 billion. The stock had an intraday high of 78.76 and an intraday low of 76.62  Currently, the price earnings ratio of the stock is 18.68.

The Chinese e-commerce has a 50-day moving average price of $73.72 and a 200-day moving average price of $73.91. Its 52-week low was at $57.20 and a 52-week high of $95.06. Alibaba has an average rating of Buy and a consensus price objective of $93.09.

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3M lessens profit outlook twice in 2015

3M recently has cut its profit forecast twice  for 2015 due to slow growth of world economy and the decline in demand for consumer electronics products and industrial supplies. The stock reduced its earnings per share to $7.55 lower than the first $7.60 to $7.65 per share. Its one-year low is $134.00 and one-year high is 170.50.

According to the chief executive of 3M, the cut of its earnings and sales growth was primarily due to declining  demand for smartphones, tablet computers and television sets globally. The company is the supplier of films, adhesives, coatings and other materials to make the said products.

“We’re seeing particular weakness in industrial-related businesses in the United States, and we’re also seeing weaker than expected demand in,” a representative of the company said.

The maker of Post-it Notes and Scotch tape to high tech components, perceives earnings of $8.10 to $8.45  per share for 2016,  higher than this year’s 7 percent to 12 percent. The company projected its organic sales growth to surge to 1 percent to 3 percent after its positive expectation on its sales in China and Japan.

At the end of the fourth quarter, the company’s dividend is seen to move higher with a total of 54 percent of earnings per share.

“Organic sales in the fourth quarter are likely to be down about 2% from a year earlier, and they may also be negative in the first quarter of 2016,” the company declared.

In other news, the hedge fund, Modera Wealth Management had 7,663 total shares at 3M at $1,086,000 according to Securities and Exchange Commission. A hedge fund is an alternative investment vehicle available only to sophisticated investors, such as institutions and individuals with significant assets.Hedge funds are pools of underlying securities and they can invest in many types of securities.

The tech company has 0.5 percent of Modera Wealth management’s Portfolio. Additionally, Palo Capital had 6,090 shares at $863,000 after purchasing 400 shares in the third quarter.

In the current trading session, the company’s shares increased by 1.23 percent to $149.95 and  its market capitalization is $92.33. The stock has 50-day moving average price of $157.06 and 200 moving average price of 151.57.

Zacks Investment Research changed its Hold rating to sell rating while Credit Suisse improved the neutral rating to outperform rating and set a price objective of $155.00. Barclays gave the stock a price objective of 150.00 and an equal weight rating. One investment analyst gave the stock a strong buy rating, two rated it with a sell rating, five issued a buy rating  and seven gave it a hold rating.The tech company has an average rating of Hold and a consensus price target of $160.61.

3M Company (3M)  is a diversified technology company. The Company operates in five segments: Industrial, Safety and Graphics, Electronics and Energy, Health Care and Consumer. 3M products are sold through a number of distribution channels, including directly to users and through wholesalers, retailers, jobbers, distributors and dealers in a range of trades in a number of countries worldwide.

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Boeing posts higher dividend and buyback

Boeing announced an early Christmas present for its investors. The aircraft giant declared its big increases to its dividend and share repurchase program 10 days before Christmas.

The largest aerospace perceives buying stock company since the demand for new airplanes was soaring high.

Based on the recent closing price of $146.41 of the stocks, the company’s dividend gained 2.5 percent. After it spent $6 billion on share repurchases in the first three quarters, Boeing will allot $2.5 billion on dividend payments in 2015.

Back in 2014, more than 100 percent of the company’s cash  flow was given back to shareholders through dividends and buybacks. Boeing spent $6 billion on buybacks and $2 billion on dividends.

In the latest data, the free cash flow of the aerospace company will be as much as $6.7 billion, while the underlying cash flow improvements will be generally offset by higher capex and unexpected costs in relation to the development of the KC-46 Pegasus military tanker. That being said, the company is returning more cash than it’s producing.

Experts believe that Boeing can have strong cash flow growth in years to come, whereas the cash flow growth will come from the 787 aircraft program. The production rate is perceived to increase next year that will push for cost improvements and boost cash flow.

After the shares of  the company hold gains of 1.42 percent in the last four weeks, it has slumped 2.61 percent recently. Regardless of the fall, the stocks were still in a bullish trend.

Boeing has 50-day moving average price of $146.86 and its 200-day moving average price is $141.25. The 52-week high of the company is at $158.83, while the recorded 52-week low is $115.14. Presently, it has a market capitalization of $96, 893 million and a remaining 669,983,630 shares.

According to the data from Securities and Exchange Commission an officer of Boeing has sold 11,690 shares at $147.68 and a total value of $1,726,379.

In other news, Boeing received a “strong-buy” rating from the investment analysts of Vetr. The stock also got a price objective of $164.47, 13.73 percent higher than the company’s price. Deutsche Bank set a price target of $175.00 on the shares of Boeing and restated its Buy rating. The company also had a Buy rating from Standpoint Research and price target of $160.00.

Boeing was given a consensus price target of $168.66 and an average rating of Buy.

Boeing is the world’s largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top U.S. exporter, the company supports airlines and U.S. and allied government customers in 150 countries. Boeing products and tailored services include commercial and military aircraft, satellites, weapons, electronic and defense systems, launch systems, advanced information and communication systems, and performance-based logistics and training.

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General Motors to sell Buick made in China

The Buick Envision of General Motors will be available in the United States in 2016 after its remarkable sales in China. The model was launched at the Chengdu Auto Show last year.

“We have production already going (in China) and adding a second manufacturing facility for the volumes that we would expect in the USA just wasn’t feasible,” stated by the spokesperson of Buick.

However, United Auto Workers (UAW) union was against with the move of the auto-manufacturer.

According to the president of the UAW, the importing of Envision from China is a slap in the face to US taxpayers and the men and women who worked so hard to save GM during its darkest time.

Although the price of the Envision is not yet revealed, it is expected to be roughly about $35,270.The long wheel base Volvo S60 Inscription was also manufactured in China, but sold in the U.S.

In the news, it is predicted most of the models of Buicks produced in China and Europe will be sold in the U.S.A. in 2017.

General Motors to invest $127M in Indiana facility

General Motors has announced its plan to invest in at its southern casting plant in Indiana. The investment is reportedly about $127.4 million wherein new aluminum engine blocks and components will be produced along with 127 new jobs.

The parts used  in Chevrolet, Buick, GMC and Cadillac vehicles are mainly produced in the south plant. These parts consist of transmission casings, converter housings, heads and small gas engine blocks.

Since 2010, General Motors has invested at least $426 million in Bedford, Indiana. The company will also invest in a dozen U.S. facilities that will create around 3,300 jobs.

General Motors play on ratings

General Motors attained a Strong-Buy rating lately from Vetr and a price target of $40.35. Citigroup Inc. issued a Buy rating and set a price target of $50.00. Zacks Investment Research improved the rating of the auto-manufacturer from a Hold to Buy and issued a price objective of $40.00.

All in all, General Motors gained nine Buy ratings, seven for a hold rating, two Strong-buy rating and only one issued a Sell rating.  The average price objective of the company is $40.55 and a consensus rating of Buy.

The company has a consensensus rating of Buy and average price objective of $40.55. It has a 52-week low of $24.62 and its 52-week high reached $38.99. It’s 50-day moving average price is around $35.60 while the 200-day moving average price is $33.00. The company currently has a market capitalization of $55.21 billion and a price-to-earnings ratio of 13.02.

Last quarter, the firm had earnings-per-share of $1.50 but analysts projected $1.49 EPS before the year ends.

General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, as well as under the Alpheon, Baojun, Jiefang, and Wuling brand names. It also sells cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, the company offers connected safety, security and mobility solutions, and information technology services.

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Alibaba: Yes to Australia Post, No to Yahoo

The partnership between Alibaba 1688.com and Australia Post has been confirmed earlier today.

Australia Post aims to extend their business in China. The agreement will open doors for the Australian retailers to trade in bulk to Chinese businesses and expand their e-commerce market influence.

Alibaba 1688.com is one of the three main services of Alibaba and a domestic business-to-business trade in China.

“Our world-first partnership with 1688.com is a one-stop e-commerce, logistics and delivery solution that streamlines labeling, packaging, pallet consolidation, sea and air transport, customs clearance, warehousing and distribution,” Ahmed Fahour, Australia Post’s Managing Director and CEO, said.

“International expansion can be a daunting prospect for many Australian companies, but Alibaba’s B2B platform, 1688.com, offers the perfect solution for small and medium businesses to drive more sales in China,” he added.

No to Yahoo

Although the projected spin-off of Alibaba to Yahoo was dropped last November, experts think Yahoo’s future still depends on Alibaba.

The tax concerns and Yahoo’s plan to sell its core search and display advertising business were one of the reasons why the spin-off was cancelled last month.

In the news, United States Internal Revenue Service rejected Yahoo’s request to let the transaction to pass as a tax-free deal. Prior to this, Yahoo has failed to make products breakthrough and continue to fall compared to its major rivals such as Google and Facebook.

“If Yahoo decides to sell its core business, it will be left with stakes in Alibaba and Yahoo Japan. They still haven’t resolved the long-term issue of what Yahoo will be going forward,” a representative of Henessy Technology fund revealed.

Yahoo’s 15 percent stake in Alibaba is around $32 billion while its stake in Yahoo Japan is about $8.5 billion. More than $30 billion is expected to complete the spin-off.

However, some investors think that the spin-off can possibly end in a huge tax bill, opposite to what Yahoo expects. Alibaba hasn’t released an official statement regarding the matter.

Alibaba’s shares surge

For the past week, the shares of Alibaba Group Holding Limited increased by 4.26 percent and 1.48 percent for the past month. Its 50-day moving average price was at $79.83 and the 200-day moving average price was $77.31.

The shares gained 2.76 percent or 2.26 points when it traded at 84.85 at the session last Friday. The trading volume reached 15,554,984 shares; its market capitalization is $211, 743 million. The 52-week low of the share price is $57.2 while the 52-week high is $111.2.

The Analyst at MKM Partners recommended $85 per share to $105 per share as the target price of the e-commerce giant. The Brokerage firm MKM Partners reiterated its Buy rating on the shares of the company.

Alibaba is China’s biggest online commerce company. It has hundreds of millions of users, and hosts millions of merchants and businesses. Alibaba handles more business than any other e-commerce company. The transactions on its online sites totaled $248 billion last year, more than those of eBay and Amazon.com combined.

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General Motors shares surge 45%

The decline of gasoline prices and the marginal economic growth have caused in the United States have resulted an increase of demand for cars. General Motors is one of the companies who benefit from this. On the latest report, General Motors (GM) experienced an increase on its shares by 45 percent recovering from their fall last August.

General motors gained strong monthly sales for November. According to its report, truck sales increased by 10 percent and its SUV sales jumped by 35 percent.

Earlier today, the shares of General Motors Company opened at 35.73. It has a 52-week high of $38.99 and a 52-week low of $24.62. GM has a market capitalization of $55.60 billion. Its 50-day moving average is 35.30 and its 200-day moving average is $33.00.

Presently, GM owns the top market share spot when it comes to U.S. auto sales, an advantage for the company since auto sales continue to surge.

General Motor’s average transaction price went up to $35,800 last month. It was $740 higher than the average price in October and a new record for GM. The company’s third quarter earnings edged higher to 11 percent.

The growth rate of 57% in 2015 is expected to decline to 12.7 percent only; however, it might not affect the company since its annual revenue is around $150 billion.

The consensus estimate of the company’s revenue for the quarter is $38.61 billion but it gained $38.80 billion.

The multinational corporation pays $0.36 for their dividend per quarter, therefore an annual dividend of $1.44. Its 4 percent annual yield is twice the yield of the Standard and Poor (S&P) 500.

Expectations and Ratings

A stock strategist fears that autosales will be affected by the anticipated Fed increase rate, however, if won’t be implemented, the yield of 4 percent is an optimistic sign to draw attention from the investors in 2016.

Other claims that General Motors shares are less expensive with an estimated price to earnings of only 7.5. Analysts expect that its earnings will increase again next year although some investors assume an “auto bubble” might happen.

The Securities & Exchange Commission announced the sold shares of the company. About 20,535 shares of the business stock were sold at an average price of $35.65, last November by Thomas S. Timko, General Motor’s vice president. Meanwhile, the executive vice president of the firm sold 10.153 shares with a total value of $366,523.30 last November 23.

On the other hand, General Motors received “BBB” credit rating which means the company is a moderate default risk.

In the news

General Motors recently has joined United Nations Global Compact to support and promote the compact’s ten principles in the areas of human rights, labor, the environment and anti-corruption. The sustainability report regarding its accountability and transparency will be released in May 2016.

Furthermore, the Canadian Engineering Centre in Oshawa of General Motors is set to lead in building autonomous vehicles. Report says that the 2016 model of Chevrolet will be replaced by the 2017 Chevrolet Volt.

“Our Engineering Centre in Oshawa was a logical place to locate this important work and it is the next step in growing the new mandate of the Centre to focus on work related to the Connected Car. The Province of Ontario’s leadership in allowing autonomous vehicle testing was a helpful support in securing this advanced technology work for our Canadian facility,” revealed by Steve Carlisle, GM Canada president and managing director.

“The opportunity to realize fully autonomous vehicles has recently become a high profile issue for governments as billions of dollars are expected to be invested in new infrastructure. The Conference Board of Canada has suggested that autonomous cars could save Canadians $65 billion per year through less congestion, less fuel and fewer collisions and fatalities,” he added

General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It is also the home of Buick, Cadillac, GMC and Chevrolet. It also sells cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, the company offers connected safety, security and mobility solutions, and information technology services.

 

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Automobile Manufacturers Post Strong August Sales but Toyota Perceives Decline

On Tuesday, domestic automobile manufacturers reported astonishingly strong results for August sales in U.S., beating analysts’ expectations of losses in a month that had mayhem in the stock market and atypical calendar eccentricity which is expected to depress sales.

Ford Motor and Fiat Chrysler reported a surprising increase but on the other hand, General Motors slightly drop but prevented a bigger loss that analysts have been expecting.

Toyota Motors in U.S.A reported an 8.8 percent drop in sales volume in contrast to August from previous year. Sales of Toyota’s Tacoma pickup which is manufactured in Tijuana, San Antonia and Mexico increased 13.2 percent. The increase in sales makes August the ninth month in a row high, which the Tacoma pickup sales raised by more than 10 percent. Toyota Motors will launch its redesigned 2016 Tacoma next month.

Sales of Tundra pickup that is made in San Antonio declined 15 percent, which is the model’s largest YoY drop since November 2011.

Toyota Motor’s plunge was smaller than the 10 percent drop which analysts estimated. With customers choosing SUV’s and pickups, Toyota’s car-heavy lineup strives. Deliveries declined 5.5 percent for Toyota’s SUV’s and pickups, and about 15 percent for cars.

Sales of Ford Motors rose 5 percent for the month and were at its best last August for sport utility vehicle like the Edge and Explorer. However, Ford sedans with the exclusion of Fiesta (up 5 percent) and the new Mustang (up 70 percent), struggled.

Fiat Chrysler reported a 2 percent profit compared to analysts’ loss expectations and making Fiat to persist a streak of 65 successive months of YoY profits.

The increase of 18 percent on Jeep sales powered the performance while the Ram brand rose 6 percent.

Fiat Chrysler’s eight vehicles set monthly sales records in August namely Wrangler, Cherokee, Patriot and Jeep Compass, ProMaster van and Ram pickup, and Journey and Dodge’s Challenger.

Sales of General Motors dropped 0.7 percent which is smaller than what analysts expected. Pickup trucks of GM aided the company’s August performance with GMC Sierra which rose 7 percent and Silverado sales which climbed 12 percent.

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Amazon Expands its Prime Now Service

Amazon.com Inc stated that it will start offering beer, wine, and spirits to customers from the US for the first time through its speedy delivery service called Prime Now.

The ecommerce giant is expanding this service to Seattle, where the headquarters of the online retailer company is located, and is delivering alcoholic drinks there.

The company’s service Amazon Prime, which has a shopping membership program that costs $99 a year, offers free 2-day deliver on millions of products. This is a key testing ground for Amazon’s  new services, ranging from on-demand video and TV to fast delivery.

Based on analysts’ estimates, the online retailer has approximately 40 million users all over the world.

Since its 2014 launch in New York City, the ecommerce company has constantly expanded its Prime Now service. Moreover, it facilitates the integration of Amazon Fresh—a grocery delivery service—which has been more sluggish to expand to new markets.

On-demand grocery delivery services can be considered a growing and competitive market in the US. On Tuesday, the grocery delivery company Instacart had announced that it had expanded to its 17^th city, Indianapolis. On the other hand, Postmates which centers on meal delivery, also offer alcohol and personal care items for consumers using a network of couriers.

Customers using Amazon Prime Now can order through a mobile application that is available on both Android and iOS devices, and the orders are shipped from smaller hubs. In order to handle the deliveries of products, two facilities were opened in Seattle and Kirkland, Washington.

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Oil Climbs on U.S. Stock Draws as Demand Forecast Gains

On Thursday, oil prices climb as lower U.S. crude stocks and optimistic global demand forecast concerns regarding the glut of supply, while threat on China’s budget continues to be evaluated.

Energy Information Administration resulted data on Wednesday that U.S. stockpiles of gasoline and crude declined 1.7 million barrels last week, boosting sentiment in the U.S. market.

Brent crude oil traded at $50.26 per barrel which rose 60 cents when it closed on Wednesday. As for U.S. crude, it traded at $43.50 per barrel which was also up 20 cents.

According to the International Energy Agency, the global demand for crude oil this year was seen as the strongest in five years. EIA also mentioned that global oversupply could extend until 2016.

China’s demand for oil dropped in July due to the sudden plunge of sales which could affect the further development for this year.

In July, China consumed approximately 10.12 million barrels of oil per day which was 4% down since June. Last year, surplus of oil gained 9.72 million barrel per day.

Chinese automobile sales have declined 7.1% in July 2014 for four consecutive months, which was the steepest drop since February 2013.

China’s currency slightly gained after the worst two-day depreciation. However, the central bank moved to stem a sudden selloff that witnessed the currency lose 4% in just two days.

Brent futures forecast a rate of $54.61 per barrel this year and $60.48 per barrel for next year, while WTI crude is expected at $49.31 per barrel this year and $54.50 per barrel next year.

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