In the third quarter of 2017, oil prices have bounced back, thanks to strong demand for crude and signs of ebbing U.S. production. The U.S. crude benchmark, West Texas Intermediate, finished September 12.2% higher, a welcome improvement following two straight quarters of declines.
Boeing Co (BA)
Boeing faces backlash overseas over the company’s situation with Bombardier Inc (OTCMKTS:BDRBF).
The U.S. imposed a 220% import tariff on Bombardier’s C-Series jets, a move which the Northern Ireland Secretary said was “unjustified and unwarranted.”
James Brokenshire spoke over the weekend at the Conservative Party Conference in Manchester, expressing his disappointment at the situation, and saying this is not what he expected from a long-term partner to the UK.
He asked Boeing to “get round the table and secure a negotiated outcome to this dispute quickly.” Canada-based Bombardier has roughly 4,000 workers in Northern Ireland.
About 25% of these workers have labored to build the Bombardier C-series.
BA shares are up 63.3% year-to-date.
Facebook Inc (FB)
Facebook CEO Mark Zuckerberg has issued an apology.
Over the weekend, the company boss wrote a Yom Kippur message asking for “forgiveness for our mistakes” and promised the company would be better in the coming future.
“For those I hurt this year, I ask forgiveness and I will try to be better. For the ways my work was used to divide people rather than bring us together, I ask forgiveness and I will work to do better,” Zuckerberg said.
FB stock is up 48.5% YTD.
Tesla Inc (TSLA)
Tesla has also been looking to improve the world around it, this time in the form of aiding relief efforts in Puerto Rico.
The damage caused by Hurricane Maria has been truly awful, leaving more than 3 million of citizens in Puerto Rico with damage to their homes, power or food supply.
Tesla responded by sending hundreds of its Powerwall batteries to help restore electrical power in the Caribbean island. The company also sent its employees to install these stations.
The Powerwall is a battery released two years ago by Tesla, designed to help homes absorb solar energy and use that to fuel their homes. Additionally, CEO Elon Musk personally shelled out $250,000 in donations to help rebuild Puerto Rico.
The company also recently announced plans to build more high-end charging stations around the nation that include food locales, great restrooms and other amenities.
TSLA stock is up 59.6% YTD.
As of this writing, Karl Utermohlen did not have a position in any of the aforementioned securities.