On Monday, Shares of MetLife (NYSE: MET) gained 0.40% to $47.60. The stock opened its trade at $47.49 and after floating in a price range of $47.44 to $47.81; the stock grabbed the investor’s attention and traded 5,273,011 shares as compared to its average daily volume of 5.37M shares. The stock’s institutional ownership stands at 79.70%.
MetLife Inc. (MET) on Wednesday stated first-quarter earnings of $1.25B. On a per-share basis, the New York-based company said it had net income of $1.19. Earnings, adjusted for non-recurring costs, came to $1.36 per share. The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
The insurer posted revenue of $14.81B in the period. Its adjusted revenue was $15.14B.
MET has a market value of $48.12B while its EPS was booked as $4.65 in the last 12 months. The stock has 1.01B shares outstanding. Beta value of the company was 1.22; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.40.
Analysis: Bitcoin (BTC) Price Correction Approaching Significant Support
Bitcoin cost amended lower as of late and exchanged beneath $5,500 and $5,480 against the US Dollar. The cost exchanged near the $5,370 level and it is as of now exchanging with a bearish predisposition. There is a key bullish pattern line shaped with help at $5,405 on the hourly diagram of the BTC/USD pair (information feed from Kraken).
The pair could broaden misfortunes towards the $5,340 support before it could skip back. Bitcoin cost began a noteworthy drawback revision underneath $5,450 against the US Dollar. BTC may test the key $5,340-5,350 help zone before it could begin a crisp increment.
Bitcoin Price Analysis
After a solid upward move, bitcoin cost began a drawback rectification from the $5,640 swing high against the US Dollar. The BTC/USD pair exchanged beneath the $5,600 and $5,520 levels to move into a momentary bearish zone. The pair even broke the $5,480 support and settled beneath the key $5,450 bolster level. As of late, there was a break underneath the half Fib retracement dimension of the last wave from the $5,199 low to $5,644 high.
The cost spiked beneath the $5,400 support and exchanged near the $5,370 level. Additionally, the cost exchanged near the 61.8% Fib retracement dimension of the last wave from the $5,199 low to $5,644 high. Right now, the cost is merging over the $5,400 level and the 100 hourly basic moving normal.
There is additionally a key bullish pattern line shaped with help at $5,405 on the hourly outline of the BTC/USD pair. Obviously, the cost is exchanging almost a solid help at $5,400. On the off chance that there is a drawback break underneath $5,400 and the 100 hourly SMA, the cost could expand misfortunes.
The following key help territory is close $5,350-5,340 (the past real obstruction). The bulls are probably going to guard the $5,340 bolster zone in the close term. On the upside, the cost must break the $5,450 protection from begin a better than average bounce back. Not with standing, the primary obstruction is at $5,500, above which the cost could move back towards the $5,640 level.
Bitcoin Price Analysis BTC Chart
Taking a gander at the graph, bitcoin value is by all accounts expanding its decay towards the $5,350 level. Nonetheless, it won’t be simple for dealers to clear the $5,340-5,350 help territory. When the present revision is finished, the cost is probably going to skip back in the close term. Further beneath $5,340, the cost may move into a bearish zone towards the $5,000 handle.
- Hourly MACD – The MACD is attempting to pick up pace in the bullish zone.
- Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is presently well underneath the 50 level and it could slide towards 35 or 30.
- Real Support Levels – $5,400 pursued by $5,340.
- Real Resistance Levels – $5,450, $5,500 and $5,540
‘The US can’t crush us’, says Huawei Founder Ren Zhengfei
Ren Zhengfei breaks his silence since his daughter got arrested in last December.
Huawei has been in trouble in the west for a while now. There has been trouble with the government, national security has been mentioned and FBI as well. Now the Chinese company has been calling it a baseless attack on their name due to their rapid popularity in the US and Canadian markets. The sales have been unbelievable, even some of the most well-known reviewers have picked Huawei phones as the best smartphone of the year.
Huawei CFO Meng Wangzhou was arrested in December of 2018, and the allegations were fraud and theft of trade secrets by US government. According to the founder and father of the Meng Wangzhou, as he spoke with BBC, won’t be enough to make Huawei go away. He said,
“There’s no way the US can crush us, the world cannot leave us because we are more advanced. Even if they persuade more countries not to use us temporarily, we can always scale things down a bit”
The CFO was arrested in Canada and there have been requests and attempts to extradite her to stand charges on US soil.
Huawei is massive and smartphones is only one part of what the company provides the world. There are router devices and charging accessories etc. The company has spread its products all over the world and it won’t be possible for the US government to find and destroy them. The allegations have had some serious push behind it, using national security issue as the tag-line, the government officials say that the company poses threat to US.
Huawei on the other hand has denied all allegations of course and is still fighting the arrest of their CFO. It is being said that there will be executive orders from President Trump to limit the equipment sales from the alleged company.
On the flip side, the British intelligence sources have reported claiming that the cyber-security risks of using Huawei’s 5G equipment are going to be manageable.
Now what the real story is, not many know except for maybe a handful of people on high places. All I know that Asian market is not bothered by this all and Huawei phones are still selling like cray and so are their other products.
Apple’s iPhones banned by a Chinese court
Apple was ordered by a Chinese court to stop selling and importing certain older iPhone models (6s, 6s Plus, 7, 7 Plus, 8, 8 Plus and iPhone X) in China. The court ruled that these iPhones infringed on software patents held by San Diego- based chip maker Qualcomm. Qualcomm filed lawsuits in China and the U.S. in 2017 in an attempt to ban iPhone sales.
“Qualcomm’s effort to ban our products is another desperate move by a company whose illegal practices are under investigation by regulators around the world”
Qualcomm maintains its stance that Apple has stolen the company’s IP (Intellectual Property). With the verdict the San Diego based company has gained victory somewhat however these older models are still being sold in China over at E-commerce and in Apple Stores plus the services that run on these devices are also untouched so the verdict being as it is, there are no real repercussions to Apple’s sales. It is to be noted that once that inventory of older models as listed, runs out, the importing of them would be illegal. There is another point to be taken into account that the banned models are already old and that Apple has already three new iPhone models in the market; iPhone XR, iPhone Xs and iPhone XS Max and those are not part of the ban.
The speculations are that Apple did infringe and that they removed those patents from their latest models seeing the verdict coming or maybe they didn’t. Qualcomm has pointed to the fact Apple has shared the patent information with the rival chip maker Intel which can be seen as somewhat insider trading of sorts. Both Intel and Apple are both have been partners for years now and have collaborated on Apple’s computer products. This makes a lot more sense at this moment since only days ago Qualcomm introduced their brand new ‘Snapdragon 8cx’ processor in Maui, Hawaii. This particular chip is built specifically for the Windows 10 PCs and said to be very powerful and set for a late 2019 launch.
Apple has filed an appeal of course for the Cupertino based company is known for it’s legal prowess when it comes to patent disputes. But is it much more than a source code and a patent issue or simply China replying in it’s own way to the recent campaign to ban Huawei phones and on top one of the top executives of Huawei Ming Wanzhou was arrested in Vancouver. The CFO of the company was accused of dodging U.S. sanction on Iran and defrauding financial institutions into helping her accomplish that. The verdict is yet to come but she has been flagged as high risk individual and is wearing an ankle bracelet until the final word from the courts.
There is no clear indication that the both are related but happening simultaneously is rather cumbersome to many. Speculations are in the air and the world of finance is watching closely. Now if the timing is correct and all these things are happening side by side then they are of course related, especially when all the usual suspects are involved. The question is who is telling the truth and who stole what. This is only Round 1, we’ll see what happens.
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