Trade ideas thread – European session 26 August 2020

Trade ideas thread - European session 26 August 2020

Daily thread to exchange ideas and to share your thoughts
The euro and pound are mildly weaker as we get the session underway but nothing that really stands out all too much, with the dollar still looking mixed in anticipation of Fed chair Powell’s speech at the Jackson Hole symposium this week.
By Justin Low Two good companies, but here’s why Honeywell is the better pick today. Aug 25, 2020 (The Expresswire) —
According to the report, titled, “Pulmonary Function Testing Systems Market Size”, Share and Global Trend by System Type… Team that has dealt away major league talent for prospects in recent years could go opposite way The former head of a pharmaceutical company was arrested Tuesday in California on insider trading charges, accused of feeding secrets that enabled friends and family to earn over $700,000 illegally. Jack Brewer, a Trump surrogate and former NFL player from North Texas, is scheduled to speak at the Republican National Convention just weeks after he was…

The euro and pound are mildly weaker as we get the session underway but nothing that really stands out all too much, with the dollar still looking mixed in anticipation of Fed chair Powell’s speech at the Jackson Hole symposium this week.

WCRS 26-08

Major currencies are largely keeping in narrower ranges for the most part and though EUR/USD is at session lows around 1.1810, the pair is trading within a 32 pips range only.

US futures are keeping more flat and that is providing little conviction for a major risk tilt going into European morning trade. Treasury yields are slightly higher though, so that is something to be mindful about in case we start to see yen pairs turn around later today.

Otherwise, we may be in for yet another quiet and choppy session as the market gears up for the Jackson Hole symposium in the second-half of the week.

What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

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I Don't Blame Dow Jones: I'd Trade Out Raytheon Tech for Honeywell Too

I Don’t Blame Dow Jones: I’d Trade Out Raytheon Tech for Honeywell Too

The Dow Jones Industrial Average (DJINDICES:^DJI) is getting its biggest shakeup in seven years, announcing a trio of moves including swapping out aerospace specialist Raytheon Technologies (NYSE:RTX) with the more diversified Honeywell International (NYSE:HON).

Despite the glib headline, the committee behind the moves is not offering investing advice. In a statement, S&P Dow Jones Indices, which runs the index, said the moves were prompted by Apple’s pending stock split and by a desire to “diversify the index by removing overlap between companies of similar scope and adding new types of businesses that better reflect the American economy.”

Nevertheless, many people will buy and sell these stocks based on the news, and index funds that track the Dow index will be forced to buy the new additions and sell the companies leaving the index. Whether it’s in the index or not, here’s why investors are right to prefer Honeywell to Raytheon right now. 

Two planes flying in opposite directions.

Image source: Getty Images.

Raytheon Technologies was formed earlier this year via the merger of the aerospace arm of United Technologies and defense contractor Raytheon. The deal couldn’t have come at a better time for United Technologies shareholders, since the COVID-19 pandemic devasated United Technologies’ commercial-focused business. United Technologies makes the Pratt & Whitney engines that power large commercial aircraft, and its Collins Aerospace unit makes cabin interiors and flight control systems. With airlines significantly cutting back on flights and air travel demand waning, it’s not a great time to be focused on commercial aircraft.

Post-merger, about 55% of the newly formed Raytheon Technologies’ revenue comes from defense and space, providing a nice cushion as the commercial side struggles. The Pentagon kept spending even as commercial aerospace dried up, and national defense priorities should continue to get funding even if the U.S. falls into a recession.  Still, the company’s shares are down 36% year to date and CEO Greg Hayes last month warned he expects it to be at least 2023 before commercial air traffic returns to 2019 levels.

Thanks to the Raytheon defense business, the company is one of the safer bets among stocks with significant commercial aerospace exposure. But the company is also in the early stages of a major merger integration, and its going to be hard for Raytheon Tech shares to break out until airlines are flying again. If Hayes is right and that takes three years or more, investors are likely to be in for a long wait.

Honeywell has its own aerospace business, and its own COVID-related woes, with organic aerospace sales down 27% in the second quarter. But Honeywell has a far more diverse set of businesses, and has already pruned its underperformers. Its units focused on building technologies, performance materials, and automation, while impacted by the pandemic, should bounce back much quicker than aviation.

What makes Honeywell a standout is the company’s focus on complementing its industrial portfolio with technology. In years past, that included acquisitions like Intelligrated, a warehouse automation platform that the company sells to its existing fulfillment and distribution customers.

Honeywell Intelligrated warehouse automation tools.

Image source: Honeywell.

More recently, Honeywell has made headlines for its computing prowess. In March, the company announced what it called “the world’s most powerful quantum computer,” designed to solve complex problems in its core aerospace and materials businesses, in addition to other industries through its partners like JP Morgan & Chase.

Honeywell does have some warts. In addition to its aerospace unit, its exposure to energy could be a drag in the quarters to come. However, the company boasts a well-diversified portfolio and management’s focus on tech should serve investors well over time.

Honeywell and the former United Technologies have been closely associated with each other for years, with Honeywell making a hostile attempt to buy United Technologies in 2016.

Honeywell “won” this round, but over the long-term, both look like winners. Raytheon’s biggest strike against it might have been its similarities with Boeing (NYSE:BA), another Dow component that is off 46% for the year and which has dragged the index down with it. Boeing has a similar mix of commercial and defense aerospace assets. If the Dow committee was looking to diversify, sacrificing one of the two names makes sense.

I believe both of these stocks can outperform over the long-haul, but the turbulence Raytheon will face in the next three to five years will likely be stronger than what Honeywell faces. As a result, I expect Honeywell to be the better stock during that window.

For Raytheon Technologies holders, though, there is reason for hope. Honeywell is coming back into the index after being kicked out twelve years ago. Raytheon could very well get another shot down the road.


Author: Lou Whiteman

Pulmonary Function Testing Systems Market | 2020 Size, Share, Global Industry Trends, Future Development, Outlook, Growth Analysis and 2026 Forecast

Pulmonary Function Testing Systems Market | 2020 Size, Share, Global Industry Trends, Future Development, Outlook, Growth Analysis and 2026 Forecast

Amongthese segments, the portable pulmonary function testing system segment is anticipated to lead the market, based on system type. This is attributable to the easy-use and better ergonomics facility of these system types.

Request a Sample Copy of the Research Report:

Leading Players operating in the Pulmonary Function Testing Systems Market are:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

Change in Lifestyle and Adoption of Drinking and Smoking Habits to Propel Market Growth

The rising prevalence of pulmonary conditions and increase in per capita expenditure are promoting the global pulmonary function testing systems market growth. Additionally, risk factors that are related to the development of pulmonary problems in people such as smoking and drinking habits, sedentary lifestyle, lung allergies, and others are increasing by the day, and this may contribute to the increase in pulmonary function testing system market share in the near future.

However, factors such as high acquisition cost and high maintenance cost of the devices for pulmonary testing systems may challenge the market growth in the future. This, coupled with the lack of proper healthcare infrastructure and medical equipment, especially in developing nations, is anticipated to cause hindrance to the pulmonary function testing systems market growth in the forecast duration.

For more information in the analysis of this report, visit:

Increasing Awareness about Pulmonary Diseases to Help Market Show Rapid Growth in Asia Pacific

In 2016, a study conducted the American Academy of Allergy, Asthma, and Immunology estimated about 8.3% of children of the total population in the U.S. suffer from asthma. The rising prevalence of lungs and breathing disorders are anticipated to help North America generate huge revenue to the market. This is likely to remain the same in the forthcoming years on account of the presence of better healthcare infrastructure and medical facilities in its developed nations.

Key Segmentation of Pulmonary Function Testing Systems Market:

By System Type

By Test Type

By Component

By End User

By Geography

Reasons to Purchase this Report:

More Trending Topics from Fortune Business Insights:

Tympanometers Market 2020 Global Industry Size, Regional Industry Development, Global Trends and Forecast to 2026

Indirect Calorimeter Market | Global Growth, Size, Share, Demand, Segments, Regional Trends and Forecasts 2020 – 2026

Breathalyzers Market 2020: Global Industry Size, Share, Future Challenges, Revenue, Demand, Industry Growth and Top Players Analysis to 2026

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Pulmonary Function Testing Systems Market | 2020 Size, Share, Global Industry Trends, Future Development, Outlook, Growth Analysis and 2026 Forecast


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Padres love team, but Preller sees chance to improve at trade deadline

Padres love team, but Preller sees chance to improve at trade deadline

The trade deadline wasn’t being discussed.

This was just a manager talking about his team. He’d had a day off, mostly spent with his family. It was a chance to reflect on the first half of the season — how a five-game losing streak punctuated by the news that closer Kirby Yates and left fielder Tommy Pham were almost certainly done for the season was followed by the seven-game winning streak the Padres took into Tuesday’s game against the Mariners.

“I (expletive) believe in these guys,” Jayce Tingler said Tuesday morning. “I love these guys. These guys can (expletive) play.”

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The profession was delivered with all the earnestness a person could possibly express, and it echoed a sentiment Padres officials have been sharing for more than a week.

They think this team is in a good spot — to make the playoffs and to do something once it gets to the postseason.

Additionally, they have pitchers Joey Lucchesi and MacKenzie Gore at their alternate training site. Both are being discussed as possibilities to pitch in September.

“The focus has been mostly internal,” Padres General Manager A.J. Preller said Tuesday afternoon. “We like our group and our team.”

That doesn’t mean they are not shopping. They are. They might think their bullpen will be fine, but they won’t simply cross their fingers and hope it’s so. They are also cognizant there could be deal(s) to land a pitcher(s) who can help beyond 2020.

Even now, with COVID-19 a constant threat over the current season and casting a shadow over next season, it would be negligent for the team with the National League’s third-best record (18-12) to not seek reinforcements before Monday’s trade deadline.

“We’ll be prepared to see what else is out there that we could potentially add to this club,” Preller said. “… We’ll evaluate if it’s worth it for us — what we’d have to give up versus what it potentially does for our team. Playing into the postseason is always the goal. Whether that’s 30 games to go or 50 games to go, we value that. We’ll look at each decision individually and decide whether it’s worth it to make a move. Obviously, there are different price points based on what we think that player’s value is to the team and also how much time he has a chance to part of our organization.”

If the Padres do make a move that costs them a significant prospect, it will almost assuredly be for a player under team control for multiple seasons — and at a price that makes sense.

That has always fit with Preller’s ideals. Especially now, with the pandemic keeping fans from ballparks this season and potentially to some extent next season, it is difficult to conceive the Padres will take on a significant salary.

Padres Executive Chairman Ron Fowler has not been hiding the fact the team will suffer big losses this season and next.

However, Preller previously has convinced Fowler and General Partner Peter Seidler to spend beyond their initial comfort level.

“We’re open to any possibility,” Preller said. “We’ll get into this last five or six days and when things become more realistic and things are something we can potentially land we’ll have that conversation about how it impacts us financially, both in the short term and definitely understanding where things are going to be at for the future. I know ultimately with Ron and Peter, they want to win. They’ve obviously demonstrated that.”

Preller was inclined to acknowledge a shift in his purpose. This is no longer about sending away Brad Hand for Francisco Mejía or Franmil Reyes for Taylor Trammell.

“Over the course of the last few deadlines, over the last four or five years, it’s been more of a position of trying to move established players or guys at the major league level for more talent,” Preller said. “Now we’re in that spot you’re looking at different pieces to try to complement a team at the major league level that is playing pretty well right now. We’re prepared for the situation in the next four or five days and look forward to the discussion and how it lines up. But it’s hard to make trades, so for the most part our focus has been on the guys we have in the organization right now.”


Author: By Kevin Acee

Ex-pharmaceutical company boss faces insider trading charges

Ex-pharmaceutical company boss faces insider trading charges

NEW YORK (AP) – The former head of a pharmaceutical company was arrested Tuesday in California on insider trading charges, accused of feeding secrets that enabled friends and family to earn over $700,000 illegally.

Sepehr Sarshar, 53, of Encinitas, California, was charged in Manhattan federal court with securities fraud, wire fraud and fraud in connection with a tender offer. He was released on $1 million bail after an initial appearance in San Diego federal court.

Authorities said he provided inside information in 2015 about a pending $3.2 billion buyout offer from Israel-based Teva Pharmaceutical Industries Limited, a generic drug giant, to his friends and family so they could trade securities in Auspex Pharmaceuticals, a company he founded.

Those close associates included a college friend, his then-girlfriend, another longtime friend, and a close relative, authorities said.

William F. Sweeney Jr., head of New York’s FBI office, said it seems obvious that a company’s secrets should not be shared and yet “time and time again we see where those privy to a company’s inside information pass it on to family and friends.”

Acting U.S. Attorney Audrey Strauss said Sarshar’s friends and family made nearly three-quarters of a million dollars.

A message was left with Sarshar’s defense lawyers.

Copyright © 2020 The Washington Times, LLC.


Author: The Washington Times

Trump and GOP give prime-time RNC spotlight to ex-NFL player charged with insider trading

Trump and GOP give prime-time RNC spotlight to ex-NFL player charged with insider trading

Jack Brewer, a Trump surrogate and former NFL player from North Texas, is scheduled to speak at the Republican National Convention just weeks after he was charged with insider trading.

The U.S. Securities and Exchange Commission filed the charges on Aug. 6, alleging Brewer made $35,000 by selling stock in a Texas software company using insider information he learned as its consultant and promoter. Brewer also acted as a securities broker for years without being properly registered, according to the SEC.

The company, COPsync Inc., counted two Texas elected officials among its early investors — state Attorney General Ken Paxton and Rep. Byron Cook. Once friends and investment partners, the two Republicans have been at odds since Cook accused Paxton of duping him to invest in a different Texas tech firm. A grand jury indicted Paxton based on these allegations in 2015.

It’s also notable that Brewer was charged, securities experts said, because the SEC brought a low number of insider trading cases last year, according to NPR.

North Texans probably best know Brewer, who grew up in Grapevine, as a football and track star at Southern Methodist University and a player for four NFL teams. In recent years, he’s added “Trump supporter” to his resume, recently declaring him the “first black president.”

Now he joins the ranks of the several Trump acolytes under legal scrutiny. The charges, however, do not appear to have affected Brewer’s standing with the president or convention organizers. As one of the only representatives from the Lone Star State on the schedule, Brewer was billed by the Trump campaign as a speaker “of particular interest to Texans.”

He is slated to speak Wednesday.

Two Texas peace officers started COPsync in 2005 after state Trooper Randy Vetter was shot and killed by a man who had made threats to law enforcement in the past.

COPsync’s software was developed to enable better information sharing among law enforcement agencies, allowing officers to send distress messages to nearby dispatchers and share suspicious activity reports with other departments that used the tool. Eventually, the Addison-based company claimed to be active in more than 500 jurisdictions across 16 states.

Brewer was brought on in 2015. He began as a consultant and later became a public face for the company. Brewer also enlisted other NFL players, including Chicago Bears defensive tackle Tommie Harris Jr., Washington running back Clinton Portis and Seattle Seahawks wide receiver Sidney Rice, to promote COPsync.

Publicly, Brewer was most active with the company in 2016, appearing on COPsync’s social media and repeatedly tweeting his support. A week after the police shooting in Dallas that left five officers dead, he appeared on the FOX Business Network to promote the COPsync software.

“When I grew up, I looked up to police officers, and now I look out and see kids that don’t respect them and so there needs to be a bridge there,” said Brewer, sitting between Portis and then-COPsync CEO Ronald Woessner.

But Brewer claimed COPsync never gave him much of what he was promised. The company struggled to cover its expenses and by the end of the year was in major debt to him, Brewer said in a later lawsuit.

That’s when, according to the Securities and Exchange Commission, Woessner told Brewer that COPsync was planning a private stock offering where shares would be sold below market value. Brewer purchased stock at this discounted price in December 2016, the SEC claims, and signed an agreement that barred him from selling it before the private offering was publicly announced.

But the SEC alleged Brewer broke this agreement and sold 100,000 shares on Jan. 4 and 5, 2017. COPsync announced the private offering the next day and the stock price plummeted by 30%.

“Brewer profited by approximately $35,000 more than he would have had he sold his shares shortly after COPsync issued its press release,” according to the SEC, which wants Brewer to repay the amount, plus penalties.

By May 2017, The Dallas Morning News reported that COPsync’s board was at war. It filed for bankruptcy in September. The company’s list of creditors — which included several local police departments and Brewer’s consulting firm — ran 12 pages long.

Brewer did not respond to requests for comment for this story.

An executive with Kologik, a Louisiana company that purchased COPsync’s assets after the bankruptcy, said everything that happened with Brewer was “before our time.” The COPsync software is still used in about 500 jurisdictions.

“We kept [COPsync] as a product name, but we just bought the assets and not the stock,” Kologik CEO Matt Teague said Tuesday. “I don’t know Jack [Brewer] at all.”

According to bankruptcy filings, Brewer is still trying to recoup $1.1 million from the company. It’s unclear whether he has received any of that money.

This month, NPR reported the SEC brought 32 insider trading enforcement actions in 2019, the lowest number in two dozen years. They charged 46 defendants in those cases, which NPR reported was “half of the annual average over the last three decades.”

But the SEC has pursued high-profile insider trading cases, including against sitting Republican elected officials under Trump. Dallas white collar trial lawyer Jeff Ansley said the charges against Brewer dispel any idea that the administration is pressuring the SEC to avoid certain targets.

“If there’s executive interference in what the SEC is doing with insider trading cases, then this case would be undermining that theory,” said Ansley, a former assistant U.S. attorney and enforcement attorney for the SEC. But it would not be surprising, he added, if Trump learns of the charges against Brewer and criticizes them publicly.

“I could see that going out in a tweet in all caps, absolutely,” Ansley said.

Brewer, who backed Barack Obama during his first White House run, now frequently appears on television to bolster the president’s policies. During a meeting at the White House in February, Brewer declared Trump the nation’s “first black president.”

“I’ve been a Democrat all my life,” Brewer told Trump. “And you changed me. You changed me. You touched me. And you made my work go to another level. You inspire me.”

In June, Brewer was named a campaign surrogate for the Trump campaign’s rally in Oklahoma. When Trump visited Dallas to discuss law enforcement issues in the wake of the death of George Floyd, the president snubbed the police chief and district attorney — both of whom are Black — but invited Brewer and Paxton to participate in a roundtable at a local megachurch.

“Mr. President, you’re the only Republican I’ve ever voted for. And I don’t just say that to make you feel good,” Brewer said at that meeting. “I’m saying that because you stood up for the word of God. And as believers, as the church, we have to pray for our president and have his back.”

The Trump campaign and convention organizers did not respond to calls and emails about the insider trading charges against Brewer and whether the charges would alter their speaking schedule. As of now, Brewer — who the campaign described in a recent email as a Texan, ambassador and “devoted philanthropist” — is still slated to take the stage Wednesday.

Paxton and Cook were representatives of the Texas House of Representatives in late 2009 when they and a handful of other early investors sunk about $1.5 million into COPsync.

Five years later, just before COPsync was listed on the Nasdaq stock exchange, they agreed to convert their shares into common stock. In return, COPsync eventually paid the group of investors $638,000, according to the company’s SEC filings.

It’s unclear how long Cook and Paxton held on to the stock. Paxton placed his financial holdings into a blind trust that same year. His wife, Angela, now a state senator, did not list COPsync stock on her 2019 financial disclosure form. Cook did not appear on COPsync’s list of creditors. Neither man commented for this story.

Cook and Paxton once shared in a number of investments.

But the relationship soured, and in 2015, just months after he was elected attorney general, Paxton was charged with securities fraud after Cook accused him of convincing him and another man, Joel Hochberg, to invest in a McKinney-based technology company called Servergy Inc., without disclosing that he had received shares in the company.

If found guilty, Paxton could face up to 99 years in prison and tens of thousands of dollars in fines. He has pleaded not guilty to all the charges. Five years after his indictment, Paxton has not yet faced trial.

Hochberg, who lives in Florida, and Cook are longtime friends and investment partners. Hochberg was also involved in COPsync as the director of the preferred stockholders group that counted Cook and Paxton as members. On Monday, Hochberg said he got involved in COPsync after its founders approached him to become an investor.

Hochberg resigned from the board in January 2017, the same month the company announced the private offering that landed Brewer in hot water.

“It got into the hands of people I did not trust or had faith in and that’s when I excused myself,” Hochberg said. “This was an event that cost me a lot of time, a lot of effort and a lot of sadness.”

Hochberg said he does not know Brewer and does not remember why Cook and Paxton decided to invest.

Securities experts said there is no obvious link between Servergy and COPsync other than a shared group of investors. Paxton’s Servergy case involves state criminal charges and Brewer’s COPsync case involves federal civil charges.

John Teakell, a Dallas attorney and former senior trial counsel for the SEC, said Cook, Hochberg and Paxton’s involvement as early investors in COPsync does not appear to be questionable. He added the SEC could always expand their case later.

“I don’t see anything that’s really of issue, or at least right now, in regard to those investors. All of the SEC’s lawsuit has focused on the insider trading of Brewer,” Teakell said. “But I don’t know if there’s a backstory.”

CORRECTION, 10:10 p.m., Aug. 25, 2020: An earlier version of this story incorrectly stated the number of people charged and insider trading cases brought during the Trump’s administration.


Author: By Lauren McGaughy7:53 PM on Aug 25, 2020 CDT

Trade ideas thread - European session 26 August 2020

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