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Hong Kong stocks ended lower on Monday on worries over China-U.S. tensions, although losses were capped by policy support from Beijing. The Hang Seng index fell 0.7% to 26,306.68, while the China Enterprises Index lost 0.8% to 10,401.83.U.S. lawmakers will back $1.9 billion to fund a program to remove telecom network equipment that the U.S. government says poses national security risks as part of a $900 billion COVID-19 relief bill, two sources briefed on the matter said on Sunday. The Hang Seng telecommunications index fell 2.4% after the news. Hong Kong shares in China’s top chipmaker SMIC dropped 3.8% after the company said on Sunday that being put on a U.S. trade blacklist would pose a significant adverse impact to its research and development in its 10-nanometer and more advanced chip technology. Source: Reuters

The surge of cash and marketable securities held on the balance sheet is not just a big Tech story. Looking at the Top 3,000 listed securities, there is almost a $8 trillion war chest to be invested somewhere -  source: The Economist 

Sunday evening, defense giant Lockheed Martin announced it is buying rocket maker Aerojet Rocketdyne for the equivalent of $56 in cash per share. Aerojet stock closed Friday at $42.04. The deal will bulk up Lockheed’s (ticker LMT) space portfolio. Source: Barrons

How Tesla should be valued is one of the most contentious issues between bulls and bears. Goldman Sachs says the stock is worth $780; JPMorgan’s price target is $90. Tesla’s valuation, on both a price-to-earnings or price-to-sales basis, is significantly higher than both Apple Inc. and the NYSE FANG+ Index of mega cap technology shares. Source: BloombergQuint

Quarterly revenues have been positive since 2016 until covid struck. Tesla's share price has famously fluctuated for years as the stock was a playing ground for short sellers. However since Q4 2019 short sellers have been punished. Q4 2020 estimated sales growth is 35.1%. Source: Bloomberg