Sunday Morning Tennessee -- November 3, 2024

Locator: 48695TENNESSEE.

A huge apology of sorts: I've gotten some nice e-mail over the past few days from several readers. I've tried to at least reply quickly in all cases, but my replies have not been as much as I wold like -- we're traveling and I’m not able to spend as much time on the blog.

Today: we will sit and watch the leaves change colors -- from green to red to yellow to orange here in the Tennessee mountains. But first, I think I will have a second -- or is it -- my third cup of coffee? Hurricane Mills, Tennessee -- no exit from the interstate identified. What a hoot; what a treat. Hotel, we thought was brand new. Not quite; it's been here for awhile but it's been completely refurbished. It is really, really nice. 

EVs: Ford Motor's October surprise. The WSJ. The EV story has turned into quite a debacle. EVs are tracked here.

Chips: there's a difference between investing and trading. And then there's always "hope springs eternal." Do traders / investors even read more than the headlines when it comes to investing?

Buffett's recent trading/investing: "A riddle wrapped in a mystery inside an enigma."

Apple's incredible quarter (July-August-September, 2024). 

California electricity rates. Quick! Why is Governor Newsom suddenly concerned about the high cost of electricity in his state. Hint: it has nothing to do with voters. Absolutely nothing at all. Hint: Intel.

California gasoline prices: set to rise again. Source: Charles Kennedy.

Quick: where is Intel headquartered today?

Beth: link here. By 2026, 2027, maybe 2028, Intel won't even have its foundries completed in Ohio

Chips are followed here. Tech is followed here.

When is a surprise not a surprise: this was made official just a couple of months ago.

Wells Coming Off Confidential List This Next Week -- November 3, 2024

Locator: 48694WELLS.

Wednesday, November 13, 2024: 16 for the month; 16 for the quarter, 590 for the year
None.

Tuesday, November 12, 2024: 16 for the month; 16 for the quarter, 590 for the year
40557, conf, CLR, Christopherson 5-14H,

Monday, November 11, 2024: 15 for the month; 15 for the quarter, 589 for the year
40637, conf, CLR, Vandeberg 5-35H,

Sunday, November 10, 2024: 14 for the month; 14 for the quarter, 588 for the year
42323, conf, Grayson Mill Operating, Hovland 26-35 XE 1H,
40316, conf, Grayson Mill Operating, Hovland 26-35 9H,
40315, conf, Grayson Mill Operating, Hovland 26-35 8H,
40292, conf, Grayson Mill Operating, Hovland 26-35 7H,

Saturday, November 9, 2024: 10 for the month; 10 for the quarter, 584 for the year
40638, conf, CLR, Christopherson 6-14H,

Friday, November 8, 2024: 9 for the month; 69 for the quarter, 583 for the year
None.

Thursday, November 7, 2024: 9 for the month; 69 for the quarter, 583 for the year
None.

Wednesday, November 6, 2024: 9 for the month; 69 for the quarter, 583 for the year
40310, conf, Hess, EN-Rice A-155-94-0310H-8,

Tuesday, November 5, 2024: 8 for the month; 68 for the quarter, 582 for the year
40639, conf, CLR, Vandeberg 6-35H,
40309, conf, Hess, EN-Rice A-155-94-0310H-7,

Monday, November 4, 2024: 6 for the month; 66 for the quarter, 580 for the year
None.

Sunday, November 3, 2024: 6 for the month; 66 for the quarter, 580 for the year
40640, conf, CLR, Christopherson 7-14H,

Saturday, November 2, 2024: 5 for the month; 65 for the quarter, 579 for the year
40641, conf, CLR, Vandeberg 7-35HSL,
39639, conf, Hess, TI-State-LN-158-95-3635H-1,

Week 44: October 27, 2024 -- November 2, 2024

Locator: 48693TOPSTORIES.

Not a bit surprising: the US EV story.

From Geoff Simon last week:

• construction continues at the David Refinery site, west of Belfield, Meridian Energy Group
• MDU spins off its construction services subsidiary, Everus Construction Grop, forming a separate independent public company

Top story of the week: 

•  a relatively quiet week in the Mideast, as Israel prepares for a retaliatory blow form Iran via .... wait for it ... Iraq
• Intel and Dow kicked off the NYSE DJIA -- replaced by Nvidia and Sherwin-Williams
  

Top international non-energy story:

• Ukraine: same ol', same ol' -- except North Korea has now sent 8,000 troops to help Russia
  

Top international energy story:

• OPEC+ has delayed plans to increase oil production; can't afford to see oil prices drop any more than they already have.

Top national non-energy story:

• if polls are correct, Harris will win by a landslide
  
• polls suggest Iowa has flipped to Harris
  

Top national energy story:

• WTI moves slightly higher; back up over $71
  

Focus on fracking: current link here. Generally updated late Sunday night.

Top North Dakota non-energy story:

Top North Dakota energy story:

• 
  

Geoff Simon's quick connects: link here.

The market in a nutshell: At the close -- after a very volatile week, a nice close on Friday -- 

NVDA Replaces INTC In The Dow; Sherwin-Williams Replaces Dow -- November 2, 2024

Locator: 48692INVESTING.

Updates

November 15, 2024: link here.

Original Post 

I watched the entire Pat Gelsinger interview on CNBC  yesterday (? -- I lose track of time) -- and I don't recall Pat mentioning this. Wow. Link here.

And, Schwab is going to 22-hour trading and the NYSE is going to 24-hour trading, or something to that effect. I don't know the details; saw the headlines some days ago.

Exciting times.

 

From Tom's Hardware:

Intel unveiled its financial results for the third quarter of 2024 on Thursday. While the company's revenue beat expectations and totaled $13.3 billion, Intel took massive impairment and restructuring charges and reported a huge $16.6 billion loss. Surprisingly, the company's stock initially jumped up to 12% on the news, though that was closer to an 7% gain at press time.  

Intel's revenue reached $13.3 billion, down 6% year-over-year but up $0.5 billion from the previous quarter. The company's net loss totaled an unprecedented $16.6 billion due to massive impairment and restructuring charges and substantial losses by the manufacturing unit. Intel's gross margin dropped to 15%, a historical minimum for the company. 

Intel's products group reported profits and generated revenues of around $12.997 billion. The company's Foundry unit earned $4.4 billion, up slightly from $4.3 billion in the previous quarter but down from $4.7 billion from the same quarter a year ago. However, the chip production unit lost a whopping $5.8 billion.

Just wait until they start building those foundries in Ohio. 

Some Music Trivia As We Move Into The Midnight Hour -- YouTube Fugue -- November 1, 2024

Locator: 48691MUSIC.

Lady, don't hurt me, no more. Haddaway, "What is Love?"

YouTube Fugue.

From wiki: 

Johnny Rivers is one of a small number of performers whose names are listed as the copyright owner on their recordings.

Most records list the recording company as the owner of the recording.

Others include Mariah Carey, Paul Simon, Billy Joel, Pink Floyd (from 1975's Wish You Were Here onward), Queen, Genesis (though under the members' individual names and/or the pseudonym Gelring Limited), and Neil Diamond.

The practice began with the Bee Gees and their $200 million lawsuit against RSO Records, the largest successful lawsuit against a record company by an artist or group.

Add Taylor Swift to that short list:

"Come on, Eileen":