Last time, Guy Cohen talked about certain aerospace and defense stocks which could benefit from the US-Saudi deal. Turns out, just about every stock he mentioned rose up as predicted. Some of them from a particular favorite setup, which Guy explains to you in this short video. Watch today's OVI market review to see how defense stocks have risen since the weekend!
Read The Capitalist’s Take Here
VA APPEALS COURT UPHOLDS TRUMP TRAVEL BAN
A Virginia-based federal appeals court blocked the Trump administration's controversial travel ban, becoming the second circuit court to uphold lower court rulings against the policy. The Fourth Circuit Court of Appeals in Richmond issued the ruling Thursday, following arguments May 8. The ruling means the Trump administration still cannot enforce its travel ban which affects six Muslim-majority countries: Iran, Syria, Yemen, Somalia, Libya and Sudan.
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GM BECOMES LATEST AUTOMAKER ACCUSED OF CHEATING EMISSIONS; THIS TIME BY CAR OWNERS
General Motors Co. was sued for allegedly putting defeat devices in trucks to beat emissions tests, making it the fifth carmaker to be accused of diesel cheating since Volkswagen AG admitted in 2015 to flouting pollution rules.
Owners and lessees of more than 705,000 GM Duramax branded diesel trucks filed a class-action lawsuit Thursday, claiming GM installed defeat devices in two models of heavy-duty trucks from 2011 to 2016. The 190-page complaint is littered with 83 references to Volkswagen, and asserts that the environmental damage caused by each truck could surpass that of the German automaker’s vehicles.
Read More at Bloomberg Here
Read More at Reuters Here
Read More at ARS Technica Here
– Thursday, May 25th
Markets Shrug Off Slumping Oil Prices; Close UP
Big Insider Trades
– NVIDIA Corp. (NVDA) EVP Ajay Puri Sells $11m
– PRA Group, Inc. (PRAA) Director Geir Olsen Buys $5m