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FGEN drama. Perhaps that's why prior CMO retired ahead of the mess. Closing gap from 3/33/20 is 26.73 so that will be filled tomorrow. What follows is a question mark as FGEN/AZN credibility is in ruins even though the numerical results only shift by small amounts. ID still looks solid. DD is even with epo and NDD BB prob goes up.
It will be interesting battle between the desire to foster innovation and the desire of the CCP to control crypto and put everyone under political surveillance. Usage of BTC or ETH would be pretty hard to control within China let alone globally.
There will be deep discounts on LG models to compensate for the uncertainty and IMO LG will be more dependable than other small companies that have quit smartphones in the past.
LG - exit stage left on smartphones. The android circle of life. Also a trailer for ICE and EV makers later this decade.
https://www.theverge.com/2021/4/4/22346084/lg-exits-smartphone-business
BTC/ETH/Yuan/USD - Is this a passing fad or will our identifies, assets and liabilities all be digitized with negligible intermediation?
https://www.bloomberg.com/opinion/articles/2021-04-04/don-t-let-china-mint-the-digital-currency-of-the-future
Sure. It has been clear from the beginning that vaccines are to be used as projections of political influence for China and Russia if they work well enough. The latter is now in serious doubt given latest variants. There are some twitter posts from cohorts of the original Moderna trial about getting 3rd shots to test out boosters adapted to new variants.
I conjecture that those that want the Pfizer vaccine will still get them and also Sinovac if they need to go to mainland.
WSJ ignored the stock going down when the joke was first announced so IMO anything that correlates joke with stock price movement is a complete waste of time and bandwidth.
Yes via google.
"It is reported that Tesla and Toyota have reviewed the partnership since last year and are approaching the final stage.
According to an official from the Japanese automobile industry on the 28th, Tesla and Toyota are considering jointly developing a small electric SUV platform (the car's basic skeleton). The partnership review has been conducted since last year. Toyota provides the vehicle platform to Tesla, and instead, Tesla provides some of the electronic control platform and software technology onboard its vehicle to Toyota.
When the partnership with Toyota is established, Tesla will be able to launch a compact SUV electric vehicle at low cost using the Toyota platform. In addition, sales of Tesla in Japan, which are around 1,000 units per year, are likely to increase significantly.
Tesla's CEO Elon Musk said at the company's new technology public event'Battery Day' in September last year, "We will release a $25,000 (half-price) electric car in 2023." However, among experts, there were not few opinions that it would be difficult for Tesla to find a way to sell electric cars at such low prices. Tesla introduced a semi-mid-sized electric car'Model 3'in 2017 and a mid-sized electric SUV'Model Y'in 2020, and then released an electric pickup truck'Cyber ??Truck' within this year. However, the details of the'half-price electric car' that will be released in 2023 are not yet known.
?? ??? ??? ??? ??? ?? ?? ???? ?? ??? ??./AFP ????
Elon Musk, chairman of Tesla, USA, leading the global electric vehicle industry./AFP Yonhap News
On the other hand, Toyota can also significantly reduce the resources and time spent on innovation of its vehicle's integrated electronic control platform (ECU) and operating system (OS) by using Tesla technology. Toyota is evaluating that the integrated ECU and OS technology that can control and improve vehicle functions through wireless updates (OTA) is lagging behind Tesla. In other words, through cooperation between the two companies, Tesla can reduce the cost and period of developing small electric SUVs and Toyota's ECU and OS development. It aims for a win-win effect by reducing the time it takes for the two companies to compensate for each other's weaknesses, allowing them to focus more on their own strengths.
Tesla and Toyota have previously partnered. The two companies agreed to jointly develop electric vehicles in 2010, and in 2012 marketed Toyota's RAV4 electric vehicle equipped with Tesla's battery system. However, due to various reasons such as sluggish sales, in 2017, Toyota sold all of Tesla's stake (holding up to 3.15%) and the partnership ended. However, the close relationship between Musk and Toyota CEO Akio Toyota was maintained, leaving room for a reunion between the two companies in the future.
Tesla's headquarters production facility, Fremont, California, was originally a NUMMI (New United Motor Manufacturing Inc.) plant where Toyota made cars in cooperation with GM in 1984-2009. Toyota transferred this to Tesla in 2010, and Tesla acquired not only a production facility but also a variety of production technologies from Toyota at that time.
??????? ??? ??? ??? ?? 3? ?? ???? NTT?? ?? ?? ???? ???? ??. /???
Toyota Motor Company's President Akio Toyoda speaks at an announcement in March last year to announce a partnership with Japanese telecommunications company NTT. /Toyota
Last year, Toyota sold 9.35 million units, surpassing Volkswagen, and returned to the world's top sales in five years. In order to cope with CASE (connected, autonomous driving, sharing, and electrification), Toyota abandons the existing autonomy and focuses on making friends. On the 24th, it entered into a partnership with a rival Japanese commercial vehicle company Isuzu to mutually invest 450 billion won. Toyota, along with Isuzu and its truck subsidiary Hino, plans to accelerate the electric and autonomous driving of commercial vehicles. Prior to this, Toyota also established a hydrogen fuel cell development joint venture with five Chinese automobile and technology companies, including Tsinghua University, Beijing, Cheil, Dongfeng, and Guangzhou Motors. The jointly developed hydrogen fuel cell system will be installed on Chinese trucks and buses from 2022. In addition, Toyota is striving to maximize economies of scale related to electrification and autonomous driving, including successive capital alliances with rivals Mazda and Suzuki.
On the other hand, Musk wrote on Twitter on the 27th, "The likelihood that Tesla will soon become the largest company in the world is higher than 0%." Although the context is not clear, it was also written “probably within a few months”, an expression that could be interpreted as referring to a period, and was soon deleted. Currently, Tesla's market cap is about $590 billion, which is one-third of the world's largest market cap company Apple.
Tesla's share price continued to rise even after surpassing Toyota, which was the first in the industry's market capitalization at the time, in July of last year, and its share price continued to rise. It fell by about 30%. Tesla, in particular, is facing the task of achieving economies of scale, with only 500,000 units sold as of last year. If the alliance with Toyota is established, it can receive great power to expand mass production faster and at lower cost.
*If you subscribe to the newsletter'Cho Won-Seok's Decode', we will send you new content related to mobility, tech, and business every Thursday morning. You can receive articles exclusively for subscribers or participate in events to be prepared in the future."
TM/TSLA - TM is rational after all if rumors of joint eSUV development is true. The pressure from an impending $25K Tesla model to be built at Shanghai gigafactory probably added to TM's urgency. IMO Beijing will not be denied their version of affordable Tesla.
https://www.chosun.com/economy/int_economy/2021/03/30/VCCYMG5DOVHIHNTZCWWKJYHEFM/
As discussed with Dew, twelve month review of market data on EV and overall auto sales. The linked write up doesn't breakdown (except for Germany) the split between BEV and PHEV but I think the trend is pretty clear. If anything Covid resulted in faster penetration of EVs and the impact of gasoline prices was not noticeable.
https://www.ev-volumes.com/
Aerofarm video
VW - ID.4 test drive impresses Bloomberg reviewer. First production sold out.
https://www.bloomberg.com/news/articles/2021-03-29/vw-id4-review-family-friendly-electric-suv-that-whispers-not-shouts
PS - On another front, smart phone maker Xiaomi joins Huawei to enter EV ring. Foxconn already announced their plans to be EV foundry. Everybody waiting for AAPL.
TOT/XOM - ISIS blamed for attack on LNG project area in Mozambique. IMO good chance that French and US military gets involved given the size of the prize. Since country is majority Christian (60%), IMO this will backfire badly on Muslim (19%) communities.
https://www.nytimes.com/2021/03/27/world/africa/27mozambique-insurgents-attack.html
https://en.wikipedia.org/wiki/Religion_in_Mozambique
Do you agree or have thoughts on whether this FDA clamp down is real? If you think it is real, has this happened historically with change in administration?
People that complain about subsidies to energy companies of all types need to look at the whole picture. We also spend $700 per capita the last time I checked enforcing the Carter doctrine. Why do we keep doing that for the benefit of GLOBAL oil supply when Uncle Sam's pocket is a debt bill?
The grand daddy of subsidies, as meaningless as ever.
https://mineralwise.com/owners-guide/leased-and-producing/royalty-taxes/depletion-allowance
True but Cologuard guard list for $500 or more than 10X FOBT so there needs to a reason for the former. My annual physical has been FOBT and as you say, I won't trust it for making any procedural decisions.
There is some confusing economics with Cologuard. Assuming the process is FOBT followed by either Cologuard or scoping, and definitely scoping follows positive Cologuard. For people that have not met deductible limits, the out of pocket cost savings is small to none so why bother especially given that latter is more definitive and can be used to removed polyps if needed. FOBT itself is not very accurate so I would do confirmatory test to check since that is cheap to do.
I asked a doctor about this and he said he usually recommends going straight to scoping if FOBT shows positives with repeat testing.
IMO politics do matter more than health when it comes to HK and especially Taiwan wrt CCP policies. Wonder which vaccine Taiwan is choosing.
ZBH/VCEL etc. - Ranking of the impact from Covid on procedure volume.
https://www.healthgrades.com/pro/medical-treatments-and-the-covid-19-pandemic-most-and-least-impacted-procedures
It's being done already in India and seems to be working fine. The reason for doing it in India may be different as farmland is in much shorter supply there compare to water. There is no shortage of sunny hills in central CA where the canals are so shading the water to conserve water is perhaps a valid idea. Would love to see how they estimate the amount of water saved due to less evaporation. That versus putting solar panels on the ground and using excess electricity to desalinate.
The first drillship i was on was Glomar Explorer. The CGI ship depicted for wind turbine is probably 2/3 the size of that so it is not that big a deal. Anything offshore takes maintenance. The difference is that platforms are there to maintain and power equipment all the way from well bottoms to wellheads and back down to pipe networks. And don't forget the stuff that require specialized equipment and divers down all the way to the ocean bottom. I don't think the expenses are even close.
And then there are the occasional accidents like Piper Alpha and Deepwater horizon.
Doesn't sound like you have had offshore o&g experience because that is seriously manpower and equipment intensive. Perhaps you are saying wind turbines take a lot more resources ($$$ and manpower) to maintain. I doubt that. But if you have the numbers to prove that, please share. I haven't looked at it.
When it rains - Renesas chip factory fire. Reposted with link that works.
https://www.reuters.com/article/us-renesas-fire-autos/japan-car-makers-scramble-to-assess-impact-of-renesas-auto-chip-plant-fire-idUSKBN2BE05I
Not currently. Was long SQM and sold last month. keeping track of BHP and GOLD.
i didn't state it explicitly. imo implicit in that thinking is that US gov would be more likely to go to bat for leading tech companies and not much more than complain for companies like yum.
I admire AAPL for navigating the political minefield well so far. But then, if Taiwan conflict comes to pass, all bets are off including AAPL and TSLA. Food business like YUM's have no national security implications and is more of a side show compare to tech developers. IYO, does the market include a discount for China risks in AAPL for example?
RIG - what the future looks like if they were to survive the transition. CGI of what is being built. They must have a different class of recruits from the EU compared to Louisiana. LOL
Drought and fire conditions for western states and NM, W. Texas set to be extremely bad. Perhaps CVX should think about the water business since they have a lot of pipeline infrastructure for moving fluids and this is becoming a long term issue.
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ieRLkNOPQyQU/v1/-1x-1.png
https://www.bloomberg.com/news/features/2021-03-20/drought-is-the-u-s-west-s-next-big-climate-disaster
Valid point and the o&g capex numbers represent a barebones maintenance level type of spending. But the flip side is that even if capex returns to pre=Covid levels, it still barely nudges the oil production curve whereas renewables capex new production adds to a base that has low decline (decommissioning of old wind turbines).
Renewables CapEx approaching that of o&g CapEx. Big difference is that much of o&g capex is maintenance treadmill so not much new energy addition per $ spent. Renewable Capex mostly new production with zero decline rate.
https://www.rystadenergy.com/newsevents/news/press-releases/renewables-spending-set-for-new-record-in-2021-luring-service-suppliers-as-oil-and-gas-gap-narrows
IMO Barron's take is consistent with market pricing of companies. Big question mark is still how long TM intends to hang on to PHEV. IMO GM is in better position than TM. VW success hinges on ability to catch up on software. All the noise about battery don't amount to a hill of beans when GigaBerlin has capacity to ramp to 250GW alone - not counting Nv. Shanghai (going w/CATL for now) and Austin. VW is fighting to stay in second place.
Wildcard is AAPL.
No that different. Both have low per capita individual ownership of cars. Taxi's are highly utilized. Seems India is 20 years behind China, always. As for grad schools, lots of talent choosing EU grad schools even if they end up in the US eventually. ITT grads are sought after in tech companies here.
BHP/FCX/SCCO - long lead times for copper mines getting longer.
https://www.bloomberg.com/news/articles/2021-03-19/the-world-will-need-10-million-tons-more-copper-to-meet-demand
TSMC/Samsung/AAPL - reverberations continue from Texas power outage. TXN and NXPI also have Austin area fabs. Stock prices seems to be holding up fine as chip margins must be making up for lost production.
https://www.bloomberg.com/news/articles/2021-03-17/samsung-warns-of-serious-imbalance-in-the-chips-industry
LOL. That's a really nice rear view mirror you have. Would have worked great in China too.
EIA projects that US gasoline use peaked in 2018. IEA had the peak somewhere between late 2020's and 2030's so the growth had to come from developing countries. I haven't found the source of the IEA analysis that shifted the peak to this year. Would like to see what changed in the regional forecasts. India wants Tesla factory badly. it will be interesting to see Tesla EV designs for low income countries.
CVX/YPF - more on Vaca Muerta and the ironic need for foreign exchange to fund renewables to reach climate goals.
https://www.bloomberg.com/news/features/2021-03-10/argentina-is-torn-between-its-shale-dream-and-climate-goals