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Friday's gains in WTI
US Factory Orders Tumbled In November
After tumbling in October, US Factory Orders were expected to rebound (albeit modestly) in November's (shutdown-delayed) data, but they didn't…
US Factory Orders tumbled 0.6% MoM, notably worse than the 0.6% rebound expected after October's 2.1% plunge… This is the first consecutive monthly contraction since June 2016
Worse still ex-Transports, orders tumbled 1.3% MoM.
Year-over-year, factory order growth slowed dramatically to just 4.1% YoY
The final updates for Durable Goods data was also disappointing with Core Capex slumping 0.6% MoM (after the same drop the previous month) and shipments dropped 0.2% (against expectations of unchanged). The headline Durable Goods Orders data also slowed dramatically from the preliminary print (rising just 0.7% against expectations of a 1.5% rebound).
Finally, we note that the relationship between US factory orders and the 'hard' broad macro data of the US economy has decoupled in recent years
https://www.zerohedge.com/news/2019-02-04/us-factory-orders-tumbled-november
Tesla to buy battery-maker Maxwell Technologies in a deal valuing Maxwell at $218 million
Maxwell Technologies Inc. MXWL, +49.84% said Monday it has agreed to be acquired by Tesla Inc. TSLA, -1.15% in a deal that values the batter maker at about $218 million. The stock deal values Maxwell shares at $4.75 each, a 55% premium to Friday's closing price of $3.07. With about 45.9 million shares outstanding, the bid would imply a market capitalization of $217.9 million. Under terms of the deal, each Maxwell share will be exchanged for a fraction of Tesla shares, which would be valued at $4.75. Maxwell's stock was halted for news, while Tesla shares slipped 0.1% in premarket trade. Over the past three months, Maxwell shares have dropped 4.4%, Tesla's stock has shed 9.9% and the S&P 500 SPX, -0.09% has eased 0.6%.
https://www.marketwatch.com/story/tesla-to-buy-battery-maker-maxwell-technologies-in-a-deal-valuing-maxwell-at-218-million-2019-02-04
Tesla, Inc. (TSLA)
308.91-3.30 (-1.06%)
Maxwell Technologies, Inc. (MXWL)
4.6000+1.5300 (+49.84%)
current on both
When that goes wrong with a full size zorb
most likely if it lands there