A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading today on the Web
Morgan Stanley analyst David Risinger produced a bluntly efficient research report entitled Three Actionable Ideas in a 30-Second Read.
The three U.S. equities involved are Elanco Animal Health Inc., network security software provider Palo Alto Networks Inc. and miner Freeport-McMoRan Inc.
In the latter case, Mr. Risinger’s reasoning involves a recovery in economic growth,
“When the US PMI has fallen below 48, the S&P Metals & Mining index have outperformed the S&P 500 by 40ppts, on average, over the next 12 months, and our US economists expect GDP growth to bottom out in 2Q20. Against this backdrop, FCX is one of our top picks given its growing exposure to copper, our preferred metal.”
The pick is also good news for domestic copper miners.
“@SBarlow_ROB MS: 3 stock ideas in 30 seconds” – (research excerpt) Twitter
Not to be outdone, Citi’s research department published their list of top U.S. equity picks. There are 22 stocks listed in eight favoured sectors. Notable names include Starbucks Corp., Schlumberger Ltd., Morgan Stanley, Merck & Co., Cisco Systems Inc. and Mosaic Co.
“ @SBarlow_ROB C Research US equity recommended stocks” – (full list) Twitter
Investors will have to wait for independent confirmation, but Irani officials announced the discovery of a mammoth new crude discovery topping 50 billion barrels.
The find comes at an interesting time - U.S. shale energy producers are openly fretting about ongoing financial viability in a lower commodity price environment and renewable power sourced, notably offshore wind, are becoming more efficient,
“[Hassan] Rouhani made the announcement Sunday in a speech in the desert city of Yazd. He said the field was located in Iran's southern Khuzestan province, home to its crucial oil industry. Some 53 billion barrels would be added to Iran's proven reserves of some 150 billion, he said. "I am telling the White House that in the days when you sanctioned the sale of Iranian oil, the country's workers and engineers were able to discover 53 billion barrels of oil," Rouhani said, according to the semi-official Fars news agency.”
“Iran says it has discovered a massive new oil field with 50B barrels” – CBC
“Things aren't looking up for oil, according to OPEC's dour forecast” – Bloomberg
“Fracking pioneer Chesapeake Energy warns it might not outlast natural gas slump” – Dallas Morning News
“Offshore wind could power the world’ – CNN
Diversion: “Homicide is declining around the world because we’re getting old” – Quartz
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