Monday, August 10, 2020

Notes From All Over -- Mid-Day Report -- Trump On Mount Rushmore -- August 10, 2020

First things first: AAPL now up 1.5%, or up almost $7/share, again trading above $451.

Sempra: Cameron LNG starts full commercial operations. Link here.

  • Sempra Energy says the Cameron LNG export facility in Louisiana has begun full commercial operations under Cameron LNG's tolling agreements.
  • commercial operations of Train 3 mark the beginning of full run-rate earnings under the facility's tolling agreements.
  • Cameron LNG achieved commercial operations of Train 1 and Train 2 in August 2019 and February 2020, respectively.
  • Sempra, which indirectly owns 50.2% of Cameron LNG, expects the facility to generate nearly $12B of after-debt service cash flows for the company during the 20-year contract period.

Market:

  • Dow holds; still up 260 points at noon
    SRE: up 1.2%; trading at $131.45; still well off its 52-week high
  • PE's
    • Alteryx: earlier this month, 1,400, now n/a
    • TSLA: 734
    • AMZN: 120
    • BRK-A: 51
    • FB: 32
    • Microsoft: 36
    • AAPL: 34
    • GOOG: 32
    • BAC: 13
    • MDU: 13
    • SRE: 9
    • F: n/a
    • GE: n/a

New record highs: FedEx and UPS.

Plastic bags: the other day it was reported that Walmart, Target and CVS have teamed up to spent $2 billion on researching a substitute for plastic bags. Hint: Americans have already found an alternative to plastic bags: Amazon cardboard boxes. 

ICYMI: Trump on Mount Rushmore -- 

Would he be willing to share a mountain with four other presidents? Probably not. He's probably just looking into the process. There are a lot of other granite "mountains" in the Black Hills. I hope they use orange agate for the hair.

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