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☆ Megacap tech may be the ultimate ‘quality’ play in an uncertain economy, The ETF Store president suggests
▼ + stars: | 2024-05-08 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

There may be a case to bet on technology stocks, even if interest rates remain higher for longer. While conventional wisdom suggests high rates should punish the group, investors still favor the earnings growth offered by megacap tech stocks, according to The ETF Store President Nate Geraci. "Investors are viewing megacap tech as a quality play," he told CNBC's "ETF Edge" on Monday. Even if a U.S. economic slowdown takes hold, Geraci thinks quality tech names can remain in a leadership role. "I think that causes investors to rethink making bets on companies with earnings that are far out into the future."

Persons: Nate Geraci, CNBC's, Cathie, Geraci Organizations: Technology, Innovation Locations: LSEG, U.S

☆ SEC's Gary Gensler is waging war against crypto. Here's a look at how his views on the industry have evolved over the years
▼ + stars: | 2023-09-03 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +5 min

The SEC has waged war against the cryptocurrency industry this year with a string of lawsuits. At the heart of it is SEC chief Gary Gensler – who has railed against crypto since taking office. Amid his regulatory battle against crypto, Insider maps the evolution of his views on the sector. AdvertisementAdvertisementAs 2023 progresses, Gensler has become more hardline on crypto – waging lawsuits not just against FTX, but also the Binance and Ripple platforms. Lawsuit fatigueAfter almost six months of attrition warfare, Gary Gensler had crypto on the ropes.

Persons: Gary Gensler –, Gary Gensler, messier, Gensler, Satoshi's, Bitcoin, Sam Bankman, Ritchie Torres, Fortune Crypto Organizations: SEC, Service, Securities and Exchange Commission, Investments, CoinDesk, Goldman, Bloomberg TV Locations: Wall, Silicon

SEOUL, July 28 (Reuters) - SK Innovation Co Ltd (096770.KS), owner of South Korea's top refiner SK Energy, said on Friday it expects refining margins to gradually improve in the second half thanks to favourable market conditions backed by solid travel season demand. Analysts said SK Innovation's refining business had been hit by declines in refining margins and oil prices, while its battery business had continued generating losses due to costs related to its newly set up U.S. battery plants. SK Innovation's battery unit SK On, which was split off last year, accounted for about 20% of the company's revenue in the second quarter. SK Innovation said it expects its battery unit's profitability to improve in the second half thanks to the U.S. tax subsidies from the Inflation Reduction Act. Shares of SK Innovation were trading down 0.9%, versus benchmark KOSPI's (.KS11) 0.5% fall at 0210 GMT.

Persons: Refinitiv SmartEstimate, Kim Kyunghoon, 1,282.8300, Heekyong Yang, Joyce Lee, Jamie Freed, Kim Coghill Organizations: SK Innovation Co, refiner SK Energy, Analysts, SK Innovation's, SK, SK Innovation, Ford Motor, Hyundai Motor, Chief, SK On's, LG Energy, Thomson Locations: SEOUL, North America, Europe

☆ There's a lot of ambiguity about crypto in the law, says Crypto Council for Innovation's CEO
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a lot of ambiguity about crypto in the law, says Crypto Council for Innovation's CEOCrypto Council for Innovation's CEO Sheila Warren and GLJ Research's founder Gordon Johnson discuss cryptocurrency regulation and the U.S. Securities and Exchange Commission's lawsuit against Binance.

Persons: Sheila Warren, GLJ Research's, Gordon Johnson Organizations: Crypto, Innovation's, U.S . Securities, Exchange, Binance

☆ Binance could be 'effectively tricking' people into buying crypto, says founder of GLJ Research
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance could be 'effectively tricking' people into buying crypto, says founder of GLJ ResearchGLJ Research's founder Gordon Johnson and Crypto Council for Innovation's CEO Sheila Warren discuss the U.S. Securities and Exchange Commission's lawsuit against Binance.

Persons: Gordon Johnson, Sheila Warren Organizations: GLJ, Crypto, U.S . Securities, Exchange, Binance

☆ Copycats are coming for JPMorgan's high-yield ETFs. Here's what's next for the popular funds
▼ + stars: | 2023-06-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Goldman Sachs filed last week to launch two similar funds: the Goldman Sachs U.S. Equity Premium Income ETF and the U.S. Tech Index Equity Premium Income ETF. Some other funds that use some form of a covered call strategy similar to JPMorgan's approach with equity linked notes are already on the market. The JPMorgan funds both have an expense ratio of 0.35%. However, even a fund that did exactly that would likely not be an option for some financial advisers until it had an established track record, giving the JPMorgan funds a big head start. The competition is coming even as the rally for growth stocks has dulled some of the allure for the JPMorgan funds.

Persons: JEPI, Goldman Sachs, Hamilton Reiner, Goldman, Reiner Organizations: JPMorgan Equity, JPMorgan Nasdaq Equity, SEC, JPMorgan, Goldman Sachs U.S, Equity, U.S . Tech, JEPI, Morgan Asset Management, Trust Locations: U.S, JEPQ

The company did not specify how much it expects its second-quarter refining margin, a key profit metric for refiners, to be. The company posted operating profit of 375 billion won ($281.6 million) for the first quarter ended March, versus 1.6 trillion won a year earlier. In March, Ford Motor, which uses batteries from SK On, recalled 18 electric trucks due to a battery cell manufacturing defect. SK On currently has battery joint ventures with Ford and Hyundai Motor Group in the United States. Shares of SK Innovation were trading up 0.5% in morning trade, versus a 0.3% fall in the broader KOSPI index (.KS11).

☆ Tesla is the one stock ARK Invest's Cathie Wood says she would hold for 10 years
▼ + stars: | 2023-02-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

If Cathie Wood had to hold one stock for the next decade, it would be Tesla, she said in an interview. Wood has been snapping up Tesla stock since shares of the EV maker closed out a dismal year in 2022. She estimates the stock will soar to $1,500 a share over the next five years, marking a 675% increase. In a recent Twitter Spaces interview with Cardone Capital, the famed money manager professed her bullishness for Tesla stock, which is the largest holding in her flagship ARK Innovation ETF. Wood anticipates Tesla stock reaching $1,500 a share over the next five years, implying a 675% increase from current levels.

☆ Wood's ARK Innovation Fund on pace for best month ever as battered stocks surge
▼ + stars: | 2023-01-27 | by ( David Randall | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 27 (Reuters) - Cathie Wood's ARK Innovation Fund is closing in on the best monthly performance in its history as it rides a rebound in many of the high-growth stocks that took a beating last year. The $7.3 billion ARK Innovation (ARKK.P) fund is up slightly more than 25% for the month to date, putting it ahead of the 25% gain it notched in April 2020. Investors are awaiting the Feb. 1 conclusion of the Fed's monetary policy meeting for clues on whether easing inflation is swaying policymakers to a less hawkish view. The central bank is widely expected to increase its key policy rate by another 25 basis points next week. Overall, January's rally has helped ARK Innovation's assets under management grow by approximately $1.2 billion this month, while investors have pulled a net $59 million out of the fund, according to Lipper data.

[1/4] A view of a construction site where concrete pouring work is suspended due to a nationwide strike by truckers in Seoul, South Korea November 25, 2022. "We need to establish a rule of law between labour and management," Yoon said on Monday, according to the presidential office. Yoon will personally preside over a cabinet meeting on Tuesday which will consider a 'work force order' demanding striking truckers return to their jobs, his office said. According to South Korean law, during a serious disruption to transport the government may issue an order to force transport workers back to their jobs. While stations secured inventory before the strike, about 80% of truckers for major refiners such as SK Innovation's (096770.KS) SK Energy and S-Oil Corp (010950.KS) are striking union members.

REUTERS/Andrew KellySEOUL/WASHINGTON, Nov 9 (Reuters) - South Korean battery makers have urged the U.S. government to factor in realities of a complex supply chain for the industry and not hold the sector to "impossible requirements" ahead of the implementation of new U.S. EV tax credit rules. LG Energy Solution Ltd (LGES) (373220.KS), SK Innovation's (096770.KS) SK On and Samsung SDI Co Ltd (006400.KS) expressed their concerns about the electric vehicle tax credit rules in comments submitted to the U.S. Internal Revenue Service (IRS). LGES added in its comment that transforming the supply chain cannot occur "overnight" and urged the United States not to hold the industry to "impossible requirements and timelines". Such market distortions could create artificial costs and barriers along the supply chain," SK On said. Samsung SDI also urged the United States to implement rules that allow flexibility to meet supply chain requirements, adding that automotive supply chain contracts often last several years.

SEOUL, Nov 3 (Reuters) - SK Innovation Co Ltd (096770.KS), the owner of South Korea's top oil refiner SK Energy, said on Thursday it expects a gradual recovery in refining margins this quarter as stronger Western sanctions on Russia and the winter season push up fuel demand. However, the company said margins will likely remain not far from third-quarter levels due to global recession worries. SK Innovation's operating profit rose to 704 billion won ($493 million) in the July-September period from 669 billion won a year earlier, it said. Revenue rose 82% to 22.8 trillion won, beating an average analyst estimate of 19.8 trillion won according to Refinitiv SmartEstimate. SK Innovation shares were trading up 0.8% in morning trade, versus a 0.6% fall in the broader KOSPI (.KS11).

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