U.S. markets are poised to open in positive territory Wednesday. This comes as the Organization for Economic Cooperation and Development (OECD) said its leading indicators for the U.S. ticked up slightly in April to 98.95 from 98.93 in March. This is the first increase in the indicator since July 2014, which may suggest sluggishness in the economy is behind us.
Amazon.com (AMZN) -- a holding in TheStreet's Growth Seeker portfolio -- is making big moves in India. CEO Jeff Bezos announced Tuesday that the online retailer plans to make a $3 billion investment in its Indian subsidiary, which would allow it to gain more of a foothold in the rapidly growing market. Amazon already faces competition from Flipkart and Snapdeal, which are based in India. Amazon's total investment in India has now hit $5 billion, as the company announced plans to invest $2 billion in 2014.
Nestor Cervero, former executive at Petrobras (PBR), has accused General Electric (GE) and Alstom (ALO) of paying bribes to secure contracts in Brazil, according to a Bloomberg report. The alleged bribes totaled $10 million and occurred in the late 1990s and early 2002, according to Cervero. General Electric denied any wrong-doing and Alstom told Bloomberg that the "energy sector is no longer part of its activities."
Apple (AAPL) sold $1.4 billion of 30-year notes with a 4.15% coupon in Taiwan, Bloomberg reported. An analyst with Standard Chartered told Bloomberg that the notes serve the needs of life insurers that are seeking higher yields over a longer time horizon. Many of Apple's suppliers are based in Taiwan. Foxconn assembles the iPhone and Taiwan Semiconductor Manufacturing (TSM) is a chipmaker Apple uses, and Largan Precision manufactures lenses. (Apple and General Electric are holdings in TheStreet's Action Alerts PLUS portfolio.)
Tesla Motors (TSLA) is working with Panasonic (PCRFY) to supply batteries for the Model 3, according to Reuters sources. The source said that Tesla may also add Samsung as a supplier for "if and when Tesla's battery plant were not able to produce enough batteries to meet demand." Separately, an analyst team with Pacific Crest Securities said that they are "more positive" on Tesla in the near term after visiting the company's Fremont, Calif. factory.
-- Written by Carleton English, with Anders Keitz contributing