Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
The automotive research analyst's recommendation follows his November call that higher used-car sales could extend into 2019 "in a major way."
Carrying a high return on invested capital, or ROIC, Penske Automotive Group has begun moving into the used car retail business, he said. The Bloomfield Hills, Michigan-based company is looking to attract customers seeking value on the used car market, allowing Penske to compete with platforms like Carmax and Carvana, which Albertine said last month has taken advantage of an industry under pressure from tariffs and changing consumer tastes.
"Penske's getting into standalone used sales [with] a lot more force," he said on CNBC's "Closing Bell," adding that he has seen a "pivot" among consumers "from new- to late-model used vehicles as the off-lease supply comes back to market."
Penske shares climbed 2.59 percent on Wednesday amid a marketwide surge, but the stock is down more than 16 percent for the year.
Italian luxury sports car manufacturer Ferrari's stock is another one to watch as the company ramps up production from the 9,000 units it makes annually to north of 14,000 a year, Albertine said. The company is planning to boost car production by as much as 55 percent over the next seven years, he added.
"From a brand perspective, [Ferrari has] one of the most protected customer-loyal brands in the history of luxury, broadly," he said.
"So, again, focus on quality there, but also some key EBIT margin expansion [and] production expansion, over the ... near to medium term," he said, referring to earnings before interest and taxes, a corporate profitability measure.
Ferrari bounced from a 52-week low Wednesday morning and gained more than 2 percent intraday. The stock is down more than 6 percent from the start of 2018.
Albertine also mentioned General Motors as a stock to watch as the company makes progress in the autonomous vehicle sector with Cruise Automation. Shares of the embattled automaker rose 3.55 percent Wednesday, but have lost over 18 percent for 2018.