Tesla isn’t the only ‘green hedge’ that’s been on an absolute tear lately


Do you believe the world will embrace a green path toward the future?

If so, you might want to consider slapping a palladium

PAH20, +1.08%

position next to your Tesla

TSLA, -1.96%

shares in your portfolio, according to the investor behind the Market Ear blog.

“Palladium is a key component in pollution-control devices for cars and trucks,” he wrote. “About 85% of palladium ends up in the exhaust system in cars, where it helps turn toxic pollutants into less-harmful carbon dioxide and water vapor.”

Of course, as you can see by this Market Ear chart (which was highlighted in our “Need to Know” column), buyers have already been flocking:


ED&F Man Capital Markets analyst Edward Meir made the comparison to Elon Musk’s company in a recent interview with Bloomberg News.

“Palladium has been unbelievable — it’s like the Tesla stock of commodities,” he said. “Prices are caught up in the rally in precious metals. Whenever these metals rally palladium tends to move as well, but by a greater magnitude.”

The rally in palladium has also been goosed by expectations that China will enforce stricter environmental standards that will trigger increased demand.

Meanwhile, prices just keep pushing deeper into record territory. Palladium added another 1% to $2,598.60 Thursday. Tesla closed down 2% at $899.41.

Don’t expect the market to dry up anytime soon, either. According to Anglo American Platinum, global demand for palladium will exceed production by 1.9 million ounces this year, though the company said in its annual report that auto makers may start using more platinum as an alternative.



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This European company isn’t sugarcoating its coronavirus problem


Pernod Ricard, the maker of Jameson whiskey and Absolut vodka, cut its annual profit growth outlook for 2019-2020 on Thursday, as it said China’s coronavirus epidemic was likely to have a “severe” impact on its third-quarter performance.

The French spirits maker, which generates 10% of its global sales in China, said it couldn’t predict the “duration and extent of the impact,” but stressed it remained confident on overall strategy.

“In our view Pernod Ricard deserves credit for attempting to quantify the impact, which few other companies we follow have done,” said James Edwardes Jones, analyst at RBC Capital Markets.

He added: “We don’t believe that this should weigh heavily on the shares, albeit China is an important market for Pernod Ricard (we estimate 14% of sales and 20% of EBIT [earnings before interest and taxes]) if the lack of reaction for others in the sector is any guide.”

Shares in Pernod

RI, +3.80%

 closed up 3.8% on Thursday.

Pernod’s warning came as the European Union cautioned on Thursday that the coronavirus outbreak had emerged as a “new downside risk” for the eurozone’s growth prospects.

In its winter 2019 economic forecast, the European Commission said: “The longer it lasts, however, the higher the likelihood of knock-on effects on economic sentiment and global financing conditions.”

Paolo Gentiloni, European Commissioner for the Economy, added: “We still face significant policy uncertainty, which casts a shadow over manufacturing. As for the coronavirus, it is too soon to evaluate the extent of its negative economic impact.”

Pernod, the world’s second-biggest spirits group after the U.K.’s Diageo

DGE, -0.87%,

said operating profit from recurring operations would grow between 2% to 4% this year, down from the 5% to 7% it previously predicted, because of the impact of the coronavirus outbreak.

The French spirits maker reported a net profit of €1.03 billion ($1.12 billion), up 1% from a year earlier, while profit from recurring operations was €1.78 billion, up 4.3% on an organic basis. Sales reached €5.47 billion in the six months to Dec. 31, a 5.6% gain on the year earlier, and 2.7% higher on an organic basis.

The company came under pressure to boost its margins and improve its corporate governance in December 2018, after U.S. activist investor Elliot Management built a 2.5% stake in the company.



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Ricky Gervais isn’t hosting the Oscars, but that doesn’t stop him from slamming the ‘disgusting, narcissistic plague’ anyway


He’s at it again.

Thanks to the magic of Twitter

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 , we don’t need Ricky Gervais to actually host the Oscars to get his biting commentary on the Tinsel Town bunch.

Check out: Ricky Gervais attacks ‘woke’ Hollywood and shreds Apple, Disney and Amazon in savage Golden Globes monologue

Before the 92nd annual Academy Awards even got underway on Sunday at the Dolby Theatre in Los Angeles, Gervais’s Twitter finger was firing away after one of his followers asked him what his “best joke” would be if he were hosting.

First, a slam at Hollywood hypocrisy:

Then, another jab at the whole Weinstein thing:

Finally, he used the opportunity to push his own product:

The memes were flying as his followers ate up his commentary, just like they did when he hosted the Golden Globes in January:


Last year, the Oscars went without a host for the first time in decades, after Kevin Hart dropped out amid controversy swirling around homophobic comments he tweeted years ago. This year, the Academy again opted to go host-less.

Who knows, maybe Gervais will fill that void on social media. Keep an eye on his Twitter feed to see if he was just getting warmed up.





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