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Sep 18, 2020
Tesla (TSLA) is planning its battery day for Sept. 22, and analysts and investors are looking forward to hearing what new developments the company has on it. The big topic of conversation lately has been a million-mile battery, but it may be too early for that technology. UBS analyst Patrick Hummel outlined in a report today […]
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Sep 18, 2020
There has been lots of talk this year of the COVID-19 benefits reaped by streaming services. As a result of the stay-at-home culture, OTT leader Roku (ROKU) has been a prime beneficiary, experiencing large account growth.But according to Rosenblatt analyst Mark Zgutowicz, Roku is particularly well placed to benefit from another trend: the move from linear to connected TV (CTV).Following discussions within OTT/CTV programmatic venues, the 5-star analyst notes there is clear indication "the demand picture for Roku will soon climb to new heights." Zgutowicz believes the big 5 Ad agencies are "making a concerted effort to negotiate volume commitments for OTT/CTV inventory."Importantly, Zgutowicz adds, the budgets for these advertising needs will come from "long-standing linear spend."In other words, the agencies are realizing the untapped potential of CTV, as consumers move from the "decades old model" of linear TV to more flexible CTV services. This is great for CTV services as a whole, but Zgutowicz highlights why it is particularly promising for Roku."Roku is a well-positioned beneficiary with its leading 40M CTV household reach, tightening gatekeeper status, and enhanced ad stack, while a reshuffle of linear to digital suggests more tangible Roku economics," the analyst explained. Furthermore, Zgutowicz believes Roku's "gatekeeper status is underappreciated." While there are now multiple "homogeneous OTT services," it is worth remembering they are all available on Roku, with Roku usually the "preferred access point
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Sep 18, 2020
"Big Pharma" doesn't come much bigger than Pfizer (PFE). Although you could argue it is so big, the stock can hardly move. Shares are essentially trading for the same price as 3 years ago. Pfizer is also one of the leading names in the hunt for a COVID-19 vaccine. But unlike other names in the race to be first to market with a solution, the catalyst has had no bearing on the stock.However, after attending the company's investor presentation, Mizuho analyst Vamil Divan believes the event "successfully illustrated how the company is evolving into a ‘New Pfizer.'"Pfizer has an extensive pipeline of vaccines and treatments that it expects will generate over $15 billion of annual sales by 2025. The "New Pfizer" is also an attempt to highlight the giant's growth potential. The upcoming spin-off of its Upjohn portfolio should rid it of unwanted bulk and help it become an "innovation-driven biopharma company." The company expects to grow the top-line by 6% a year, while delivering double-digit growth on the bottom line.On the rare diseases front, Pfizer anticipates six rare disease assets will be in Phase 3 trials by the end of the year, including three gene therapies.The company is also developing a wide range of immunology products, "each for a targeted number of indications where there appears the potential for a truly differentiated product."Leading the charge form this business unit is abrocitinib, an oral JAK-inhibitor which Pfizer last month filed for the treatment of atopic dermatitis. Pfizer believes the treatmen
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Sep 18, 2020
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
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Sep 18, 2020
Next week will be a big one for Tesla (TSLA). Alongside its annual shareholder meeting, on Tuesday (September 22) the EV maker will host its highly anticipated Battery Day. The event has been the source of much speculation as to what delights will be on offer from Musk and Co.Deutsche Bank analyst Emmanuel Rosner has an idea of what to look out for."We believe Tesla could unveil a new insourced manufacturing system to ramp up battery capacity, improved cell chemistry with greatly-enhanced performance, and fast-declining cost curve," the analyst said. "While media and investors' expectations for the event are high, we believe these announcements could meet many of them, and reinforce Tesla's position as a technology leader."Battery capacity has already been noted as a major impediment to future growth. As such, Rosner anticipates a formal unveiling of the Roadrunner, Tesla's battery cell manufacturing system. Expected to utilize technology obtained from Hibar and boasting the dry battery electrode (DBE) technology developed by Maxwell, the Roadrunner should "enable Tesla to scale up its battery volumes quickly while reducing cost and increasing density."Rosner expects Tesla to "boost its battery output significantly and battery costs to trend well below $100/kWh in the next few years."Additionally, the event could also shine a light on the development of the fabled "million mile" battery, which is expected to incorporate some advanced chemistry research work done by Jeff Dahn.So, with such a catalyst on the horizon, should investors pick up Tesla
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Sep 18, 2020
Trade tensions between China and the U.S. are once again on the rise over President Donald Trump's threats to ban TikTok and WeChat in the U.S. starting on Sunday. With the November election now only about six weeks away, S3 Partners analyst Ihor Dusaniwsky said short sellers are targeting Chinese stocks in a major way.Dusaniwsky said China and Hong Kong short interest now totals $104 billion, an increase of $2.03 billion in the past month. The dispute between Trump and China over TikTok could be a preview of what's to come between now and the election, and short sellers seem to believe Chinese stocks could suffer.Most Shorted China Stocks: Here are the five U.S.-listed Chinese stocks with the largest outstanding short positions, according to S3: * Alibaba Group Holding Ltd - ADR (NYSE: BABA), $11.72 billion in short interest. * JD.Com Inc (NASDAQ: JD), $3.24 billion in short interest. * Pinduoduo Inc - ADR (NASDAQ: PDD), $2.95 billion in short interest. * GSX Techedu Inc (NYSE: GSX), $2.38 billion in short interest. * Nio Inc - ADR (NYSE: NIO), $1.47 billion in short interest.Short sellers have been particularly aggressive in betting against Alibaba and JD.com in the past 30 days. Alibaba's short interest has increased by $1.48 billion in that time, while JD.com's short interest is up by $320.7 million. Nio's short interest is headed in the other direction, dropping by $642.5 million in the past month.Dusaniwsky said Chinese stock short sellers have had some home run trades in 2020 led by Luckin Coffee
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Sep 18, 2020
MONTREAL, Sept. 18, 2020 /CNW/ - Turquoise Hill Resources today announced that the Company's Board of Directors has accepted the resignation of non-independent director Alan Chirgwin, effective September 17, 2020.
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Sep 18, 2020
CORPUS CHRISTI, Texas, Sept. 18, 2020 /CNW/ - Uranium Energy Corp.
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Sep 18, 2020
Commerce Secretary Wilbur Ross says the U.S. plans to restrict U.S. access to the Chinese-owned apps TikTok and WeChat on Sunday night on national security and data privacy grounds.
IMD Business School LEGO Professor of Management and Innovation Howard Yu told Yahoo Finance's On the Move that there's a "lack of security experts' opinions weighing in" on the situation.
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Sep 18, 2020
Every smart investor knows that he doesn't know everything - and there is no shame in turning to the experts for advice. International investment firm Credit Suisse regularly publishes the information that investors need to make informed decisions. According to TipRanks, Credit Suisse ranks number 5 among the top 50 investment firms, with a sustained long-term success rate of 60% out of more than 12,000 stock recommendations made.This makes Credit Suisse a natural place to look for stock picks. With the year winding down, and the fourth quarter just around the corner, the bank is starting to publish its analysts 1 picks to round out 2020 - and to get a strong start on 2021. We've pulled up three of these picks; stocks that Credit Suisse analysts see gaining 20% or more in the year ahead.Using TipRanks' Stock Comparison tool, we were able to evaluate these 3 picks alongside each other to get a sense of what the analyst community has to say.Concho Resources (CXO)First on the list, Concho Resources, is a major hydrocarbon exploration and exploitation company in the Permian Basin of West Texas. The company has exploration rights on 800,000 acres of ground in the region, and extracts both oil and natural gas. Concho is a one of the area's largest unconventional shale producers, and has proven reserves in excess of 1 billion barrels of oil equivalent. The proven reserves are split, 2 to 1, between crude oil and natural gas.Concho has shown great resilience during the corona crisis. While earnings fell by a th
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Sep 18, 2020
(Bloomberg) -- The Dakota Access oil pipeline is poised to stay in service at least through December under a new court schedule, assuming the Trump administration doesn't force a shutdown.Under the proposed briefing schedule filed Wednesday, a federal court in Washington won't be prepared to rule until late December, at the earliest, on a renewed bid to halt the line.The proposed schedule would give tribes opposed to the Dakota Access until Oct. 16 to file a new request to shutter it. Lawyers for the Army Corps of Engineers and pipeline operator Energy Transfer LP would have until Nov. 20 to respond, and the tribes would have until Dec. 18 for final briefs.The Army Corps is still reviewing whether it should order removal of the pipeline after the court scrapped a federal easement for the line, which delivers crude oil from North Dakota shale fields to an Illinois hub.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Sep 18, 2020
Unity Software Inc. opened trading on Friday at $75 after its $1.3 billion IPO was priced at $52 per share, above its $44 to $48 offering range. Unity Software CEO John Riccitiello joins The Final Round to break down the company's IPO and its influence within the 3D content market space.
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Sep 18, 2020
Tech stocks are suffering despite little change in the outlook, and the broader market is falling in their wake.
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Sep 18, 2020
After oil prices crashed at the start of the month, outages from Hurricane Sally, high compliance from OPEC, and a drawdown in U.S. oil inventories led to prices rallying above $40 this week
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Sep 18, 2020
Unless you borrow money to invest, the potential losses are limited. On the other hand, if you find a high quality...
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Sep 18, 2020
The request on Friday afternoon follows a Reuters interview with AT&T Chief Executive John Stankey this week in which he discussed a plan to discount cellphone bills as early as a year from now. While Stankey said AT&T was not yet announcing a new product available to consumers, he discussed how the company was building toward such an offer as it doubles down on the advertising business. "Consumers expect that their phone and broadband providers are not spying on their phone calls and web browsing or using their private data for commercial gain," Blumenthal, Democrat, wrote in a letter to Stankey.
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Sep 18, 2020
As every investor would know, you don't hit a homerun every time you swing. But it's not unreasonable to try to avoid...
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Sep 18, 2020
If you are looking for the best ideas for your portfolio you may want to consider some of GDS Investments top stock picks. GDS Investments, an investment management firm, is bullish on General Electric Co (NYSE:GE) stock. In its Q2 2019 investor letter - you can download a copy here - the firm discussed its […]
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Sep 18, 2020
Yahoo Finance's On the Move panel discuss the latest IPO's Snowflake and Unity.
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Sep 18, 2020
Tesla Inc's (NASDAQ: TSLA) energy segment and CEO Elon Musk's 2018 compensation plan are two poorly understood facets of the electric vehicle manufacturer's business, according to Piper Sandler. The Tesla Analyst: Alexander Potter maintained an Overweight rating on Tesla and raised the price target from $480 to $515.About Tesla Energy: Tesla's energy segment and Musk's compensation can be "vexing" topics, "but they are growing increasingly material, and as such, we think they warrant more explicit attention," Potter said in a note. Piper Sandler expects Tesla's energy business to reach more than $200 billion per year in revenue. "We anticipate sharply higher demand for these products, particularly in the late 2020s and 2030s as renewable energy grows toward 40% of electricity generation," the analyst said. Tesla Energy represented $1.5 billion in revenue for the company in fiscal 2019.In fiscal 2023, the analyst projects that Tesla Energy will hit $12.4 billion in revenue -- and cross $200 billion by 2033.Tesla will control over one-third of the market for stationary batteries, he said, adding that Tesla management has previously stated that the segment will generate as much as Tesla's automotive operations. Musk's Compensation: Musk receives no salary, but has an options package that is awarded based on hitting 16 milestone financial metrics and 12 market capitalization milestones.The financial metrics are tied to annual revenue and annual EBITDA. The compensation package surfaced in the di
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Sep 18, 2020
Was the recent market volatility just a fake out? After notching an all-time high on September 2, fears related to overheated valuations spurred a rapid correction, marking the first material correction of the current bull market. However, this doesn't mean the bears have been vindicated, so says Wells Fargo's Sameer Samana.Samana highlights the fact that both the S&P 500 and the NASDAQ "were able to hold above the levels we saw in June," arguing "from a higher highs, higher lows standpoint, the fact you were able to hold at higher levels than June or July is encouraging." He added, "Right away, it tells a lot to investors, nothing is wrong with the trend, we just got a blowoff and kind of a pullback."On top of this, the absorption of 10-year and 30-year Treasury issuances, recent M&A activity and easing of financial conditions like the volatility indexes and the dollar are all "helping sentiment on the day and leading to a rebound from the volatility over the past week or two," in Samana's opinion.With Samana's outlook in mind, we took a closer look at two stocks Wells Fargo is backing. The firm's analysts see over 100% upside potential in store for each. We used TipRanks' database to find out what the rest of the Street has to say.Bellicum Pharmaceuticals (BLCM)Developing high-performance cellular immunotherapies, Bellicum Pharmaceuticals wants to unleash their power against a wide range of cancers. Given the progress of its controllable CAR-T therapeutic pipeline, Wells Fargo is pounding the table on this hea
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Sep 18, 2020
Yahoo Finance's On the Move panel discuss the latest IPO's Snowflake and Unity.
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Sep 18, 2020
Yahoo Finance's On the Move panel discuss today's Stocks on the move: Beyond Meat and United States Steel Corp.
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Sep 18, 2020
We can readily understand why investors are attracted to unprofitable companies. For example, although...
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Sep 18, 2020
Tech stocks are suffering despite little change in the outlook, and the broader market is falling in their wake.
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Sep 18, 2020
Coronavirus vaccine developer Moderna Inc (NASDAQ: MRNA) held a virtual R&D event Thursday, showcasing its portfolio and key therapeutic areas.The Moderna Analysts: Chardan analyst Geulah Livshits has a Buy rating on Moderna with a $95 price target. SVB Leerink analyst Mani Foroohar maintained an Underpeform rating and $41 price target.Needham analyst Alan Carr reiterated a Buy rating and $94 price target.Chardan's 5 Takeaways On Moderna: The news from Moderna's R&D day includes additional visibility on statistical assumptions, monitoring and data analysis for the Phase 3 COVE study of the SARS-CoV-2 vaccine candidate mRNA-1273, Livshits said in a note.To increase transparency, Moderna has made the trial protocol available online, the analyst said. The first interim analysis of data from the study -- at 53 coronavirus cases -- is likely to be released in November, she said, citing the company.The following are Chardan's key takeaways from the event:The likelihood of the first interim analysis in the Phase 3 trial meeting primary efficacy criteria varies considerably based on vaccine efficacy, with a greater than 50% probability at 75% efficacy, Livshits said.The results for the CMV vaccine mRNA-1647 in the Phase 2 trial seem better than in Phase 1 data vis-a-vis immunogenicity, tolerability and a commercial (lyophilized) formulation, the analyst said.Moderna sees opportunities for combination vaccines in older and younger populations, she said. "Systemic mRNA re-dosing appears feasi
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Sep 18, 2020
We feel now is a pretty good time to analyse Vuzix Corporation's (NASDAQ:VUZI) business as it appears the company may...
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Sep 18, 2020
What are the early trends we should look for to identify a stock that could multiply in value over the long term...
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Sep 18, 2020
(Bloomberg) -- Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a deal with Sotheby's to sell hundreds of millions of dollars of works.He's unloaded his stake in Humvee-maker AM General, sold a flavorings company that he'd owned for decades and hired banks to find buyers for stock he holds in other companies.What in the world is going on with Ron Perelman? His exploits on and off Wall Street have been tabloid fare in New York since the go-go 1980s. But now, at an age when most fellow billionaires are kicking back, Perelman, 77, is facing a range of financial challenges, most of all at Revlon Inc., his cosmetics giant.Once touted as America's richest man, his wealth has dropped from $19 billion to $4.2 billion in the past two years, according to the Bloomberg Billionaires Index.Bankers, socialites and art collectors have been buzzing about Perelman since his investment company, MacAndrews & Forbes, said in July it would rework its holdings in response to the coronavirus pandemic and the ravages it caused to American businesses, including his own."We quickly took significant steps to react to the unprecedented economic environment that we were facing," Perelman said in a statement. "I have been very public about my intention to reduce leverage, streamline operations, sell some assets and convert those assets to cash in order
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Sep 18, 2020
Penn National Gaming, Inc (NASDAQ: PENN) shares are up another 23.5% in the past week in anticipation of Friday's launch of the new Barstool Sportsbook app.Online and sports gambling stocks Penn and Draftkings Inc (NASDAQ: DKNG) have been on fire in 2020, and S3 Partners analyst Ihor Dusaniwsky said Thursday that heavy losses are driving short sellers to the sidelines.MGM Resorts International (NYSE: MGM) has the largest short interest within the casino and gaming group at $1.02 billion. However, DraftKings is a close second at $977.4 million followed by Penn at $954.5 million.Dusaniwsky said short interest in the group has steadily risen since March, but that trend has started to shift in DraftKings and Penn. DraftKings' short interest is down 14% during the stock's 51% rally since mid-August. Penn's short interest has dropped 44% during the stock's 115% rise since late May.Short Sellers Getting Burned: MGM and other casino shorts have been highly profitable trades for short sellers in 2020, but not DraftKings and Penn. Short sellers have generated $834.1 million in year-to-date mark-to-market losses betting against Penn and $462.7 million in losses shorting DraftKings.Those losses have ramped up in the month of September, with DraftKings shorts taking a $310.8 million hit and Penn short sellers enduring $238.4 million in losses.Dusaniwsky said short covering may continue to push DraftKings and Penn shares higher in the coming weeks."With almost $2 billion of short interest between the two stocks, if a sizeable
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Sep 18, 2020
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./TORONTO, Sept.
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Sep 18, 2020
Chinese electric vehicle manufacturer Nio Inc - ADR (NYSE: NIO) said in a Form 6-K filing that it has agreed to redeem an 8.6% equity stake in Nio China for consideration of 511.5 million yuan ($72.5 million).What Happened: Under amended and supplemented agreements with strategic investors, Nio and its designated parties have the right to buy back 50% of the equity interest in Nio China held by Jianheng New Energy Fund, one of the strategic investors, the company said in the filing.When the EV maker raised roughly $1.7 billion in gross proceeds from a 75-million-share equity offering in late August, it said it intends to use part of the proceeds to repurchase equity interest held by certain minority shareholders of Nio China.Following the redemption, Nio said it will hold an 84.5% controlling stake in Nio China. Nio EC6 Deliveries To Begin Soon? Nio has started shipping its third mass-produced EV model, the EC6, and customers will soon receive deliveries, cnTechPost reported, citing the company.The EC6 is an electric SUV that competes against Tesla Inc's (NASDAQ: TSLA) Model Y. NIO Price Action: Nio shares were trading slightly positive at $19.32 at last check Friday.Related Links:Why Nio Has A Shot At Becoming The 'Tesla Of China'China's Nio Unveils Battery-As-A-Service, Lowering EV Ownership Costs Photo courtesy of Nio. See more from Benzinga * Chinese EV Manufacturer Nio's August Deliveries Jump 104% Year-Over-Year * Nio Trades Down After EV Company Prices Upsized Equity Offer
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Sep 18, 2020
(Bloomberg) -- Trump administration lawyers told a judge weighing whether to block an executive order banning the Chinese-owned WeChat app that new Commerce Department guidance issued Friday "reinforces" arguments against an injunction.U.S. users of WeChat who sued over President Donald Trump's order argued in court this week that it's too vague. Lawyers for the administration said that argument no longer carried any weight.The plaintiffs "cannot continue to complain of vagueness," the U.S. said Friday in a notice to the court. U.S. Secretary of Commerce Wilbur Ross, the notice says, "has now defined the prohibitions" and confirmed that U.S. users of WeChat can't be penalized for personal use of the app.U.S. WeChat users "can have no reasonable claim that their speech is ‘chilled' when their speech is not subject to criminal or civil penalties," the government said in the filing.Read More: U.S. Curbs WeChat Transfers, Limits TikTok App As of SundayThe administration has said the ban is driven by national security concerns about the Chinese government's ability to access data through the app. In Friday's filing, U.S. lawyers cited an opinion piece published in The New York Times on Thursday which called Chinese plans for WeChat and other apps "much more sinister" than even Trump believed.The case is U.S. WeChat Users Alliance v. Trump, 3:20-cv-5910, U.S. District Court, District of Northern California (San Francisco).(Updates with details from the U.S.'s notice to the court.)For more articles like th
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Sep 18, 2020
Snowflake blew some minds on Wall Street with its red-hot IPO. Yahoo Finance speaks with Snowflake CEO Frank Slootman about the road ahead.
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Sep 18, 2020
Yahoo Finance's Adam Shapiro breaks down the stocks to watch Friday.
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Sep 18, 2020
Every investor in Verastem, Inc. (NASDAQ:VSTM) should be aware of the most powerful shareholder groups. Large...
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Sep 18, 2020
It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...
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Sep 18, 2020
Yahoo Finance's Ines Ferre joins The First Trade with Brian Sozzi to break down the recent ride for Tesla shareholders, including two price target increases, ahead of battery day.
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Sep 18, 2020
Was the recent market volatility just a fake out? After notching an all-time high on September 2, fears related to overheated valuations spurred a rapid correction, marking the first material correction of the current bull market. However, this doesn't mean the bears have been vindicated, so says Wells Fargo's Sameer Samana.Samana highlights the fact that both the S&P 500 and the NASDAQ "were able to hold above the levels we saw in June," arguing "from a higher highs, higher lows standpoint, the fact you were able to hold at higher levels than June or July is encouraging." He added, "Right away, it tells a lot to investors, nothing is wrong with the trend, we just got a blowoff and kind of a pullback."On top of this, the absorption of 10-year and 30-year Treasury issuances, recent M&A activity and easing of financial conditions like the volatility indexes and the dollar are all "helping sentiment on the day and leading to a rebound from the volatility over the past week or two," in Samana's opinion.With Samana's outlook in mind, we took a closer look at two stocks Wells Fargo is backing. The firm's analysts see over 100% upside potential in store for each. We used TipRanks' database to find out what the rest of the Street has to say.Bellicum Pharmaceuticals (BLCM)Developing high-performance cellular immunotherapies, Bellicum Pharmaceuticals wants to unleash their power against a wide range of cancers. Given the progress of its controllable CAR-T therapeutic pipeline, Wells Fargo is pounding the table on this hea
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Sep 18, 2020
(Bloomberg) -- Bond investors who wagered on a group of malls owned by Barry Sternlicht's Starwood Capital Group are starting to take losses after the Covid-19 pandemic shuttered stores and wiped out emergency cash reserves that had been keeping interest payments flowing.The commercial-property bond, known as Starwood Retail Property Trust 2014-STAR, is backed by an almost $700 million defaulted loan. It's cutting interest payouts to investors for a second time, after a reserve account dried up in June and a sharply lower property valuation led to the servicer holding back some funds.The bond's performance shows how rapidly the pandemic is deepening losses in a sector that was already getting crushed by online shopping. Even the part of the bond deal that was once rated AAA -- meaning bond raters saw virtually no risk of taking losses just two months ago -- have now been cut deep into junk territory."The experience of the mall CMBS from Starwood is certainly symptomatic of the larger narrative," said Christopher Sullivan, chief investment officer of United Nations Federal Credit Union. Weakening mall asset fundamentals and fewer willing investors "will present ongoing financing problems."A representative for Starwood declined to comment.S&P Global Ratings in July downgraded the entire Starwood commercial mortgage-backed security to speculative grade after a reappraisal of the four regional malls backing the debt valued them 66% lower than when the bond was issued.And while the servicer on the loa
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Sep 18, 2020
Tech stocks are suffering despite little change in the outlook, and the broader market is falling in their wake.
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Sep 18, 2020
U.S. consumer sentiment increased in early September, with Democrats growing more upbeat about the economy's outlook ahead of the Nov. 3 presidential election while Republicans' optimism waned slightly. The survey from the University of Michigan on Friday, however, showed President Donald Trump, a Republican, and his Democratic Party challenger, former Vice President Joe Biden, in "a virtual tie" when assessing consumers' responses between July and September on which candidate they thought would win the election, not whom they favored or how they intended to vote. "The September gains were primarily in the outlook for the economy, and it was Democrats that posted gains in economic prospects while optimism about the economy weakened among Republicans," the University of Michigan Surveys of Consumers chief economist Richard Curtin said in a statement.
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Sep 18, 2020
The survey from the University of Michigan on Friday, however, showed President Donald Trump, a Republican, and his Democratic Party challenger, former Vice President Joe Biden, in "a virtual tie" when assessing consumers' responses between July and September on which candidate they thought would win the election, not whom they favored or how they intended to vote. "The September gains were primarily in the outlook for the economy, and it was Democrats that posted gains in economic prospects while optimism about the economy weakened among Republicans," the University of Michigan Surveys of Consumers chief economist Richard Curtin said in a statement. The University of Michigan's consumer sentiment index rose to 78.9 in the first half of this month from a final reading of 74.1 in August.
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Sep 18, 2020
From the end of March through the end of August, stocks had a tremendous runup to record high levels. The gains completely wiped out the losses from the mid-winter ‘coronavirus collapse,' and it looked like we were in for a sustained run of good days. But all of that changed as September rang in. The market hit a bump, and has been undergoing a correction. The Nasdaq is down nearly 7%, and volatility has been high so far this month.A new report from Canaccord's Tony Dwyer puts the situation into perspective by pointing out the major source of uncertainty: "In a true statement of the obvious," he writes, "this is the most complicated election-year setup we could possibly have." He goes on to note the four most important ‘unknown' factors: how the voting will actually happen this year, and avoiding vote fraud; who will win the White House; if the Democrats will sweep the Federal level elections; and, if the loser will concede the contest without a dragged-out legal battle. These are points giving investors ulcers at night.Dwyer balances all of that with the predictable factor: "Unlike the political backdrop, which is totally unpredictable, we know the Fed intends to keep rates at zero and to keep intervening when there are any signs of stress." An active central bank will continue injecting liquidity into the system, which will be bullish for stocks. In Dwyer's view, the only question is, what tools will the Fed use?So, in a situation that recalls Donald Rumsfeld's ‘unknown unknowns,' many investors are gravitating toward defen
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Sep 18, 2020
Frederick Disanto's Ancora Advisors is a Cleveland-based boutique investment firm that provides asset management, family wealth, and retirement planning services to its clients. DiSanto has served as Ancora's CEO since 2006 and leads the firm's three Registered Investment Advisors. Ancora had $3.1 billion in assets under management as of June 24, 2020. Ancora Advisors runs […]
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Sep 18, 2020
This week we saw the Ovintiv Inc. (TSE:OVV) share price climb by 15%. But only the myopic could ignore the astounding...
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Sep 18, 2020
Moderna's CEO dismissed suggestions about political pressure, telling Yahoo Finance in an interview that his company was not under the gun from the government.
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Sep 18, 2020
(Bloomberg) -- Canadian miner Kinross Gold Corp. is boosting output and paying its first dividend in seven years after gold prices surged to a record.The Toronto-based company will give shareholders 3 cents a common share, and resume quarterly dividends of the same amount, taking the total distribution to 12 cents a year, according to a statement Thursday. Production is expected to increase 20% by 2023.The move comes after investors flocked to the yellow metal as a safe haven, with the pandemic threatening to derail global economic growth. Spot gold climbed to a record $2,075.47 an ounce in August and while prices have declined since then, they are still up 28% this year, making it the second-best performer in the Bloomberg Commodity Index of 22 raw materials."Our growing production profile, combined with our declining cost structure, is expected to drive strong and growing free cash flow," Chief Executive Officer J. Paul Rollinson said in the statement. "We are also studying further organic development options given our attractive pipeline of projects and promising exploration results."Kinross, one of the world's top-10 gold producers, will pay the dividend on Oct. 22 to holders of its stock on record at the close of trading 14 days earlier, according to the statement. The last time the company paid a quarterly dividend was in March 2013, paying out 8 cents a share."The update rewards shareholders with a significant and sustainable return, and demonstrates management's ability to balance a disciplined and
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Sep 18, 2020
The U.S. will bar people from downloading both TikTok and WeChat starting September 20th. Yahoo Finance's Alexis Christoforous, Brian Sozzi, and Akiko Fujita break down the latest details.
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Sep 18, 2020
If you want to know who really controls Fortress Biotech, Inc. (NASDAQ:FBIO), then you'll have to look at the makeup...
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Sep 18, 2020
K12 Inc. (NYSE:LRN) shares have retraced a considerable 34% in the last month, reversing a fair amount of their solid...
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Sep 18, 2020
How a half-baked COVID loan to Kodak blew up in everyone's faces
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Sep 18, 2020
Every investor in W. P. Carey Inc. (NYSE:WPC) should be aware of the most powerful shareholder groups. Large companies...
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Sep 18, 2020
If you want to know who really controls Medical Properties Trust, Inc. (NYSE:MPW), then you'll have to look at the...
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Sep 18, 2020
Tech stocks are suffering despite little change in the outlook, and the broader market is falling in their wake.
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Sep 18, 2020
While Ituran Location and Control Ltd. (NASDAQ:ITRN) might not be the most widely known stock at the moment, it saw...
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Sep 18, 2020
TORONTO, Sept. 18, 2020 /CNW/ - Namaste Technologies Inc.
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Sep 18, 2020
It is hard to get excited after looking at Intel's (NASDAQ:INTC) recent performance, when its stock has declined 16...
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Sep 18, 2020
Does the September share price for Halliburton Company (NYSE:HAL) reflect what it's really worth? Today, we will...
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Sep 18, 2020
Tiffany last week sued LVMH in the Delaware Court of Chancery, the top U.S. business court, after the maker of Louis Vuitton handbags said it could not complete the acquisition, citing a French government request to delay the close and Tiffany's deteriorating business outlook due to the COVID-19 pandemic. LVMH has said it will defend itself vigorously. In a filing on Wednesday, it accused Tiffany of mismanaging the pandemic's financial fallout and arguing this has triggered a material adverse effect (MAE) that nullifies their agreement.
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Sep 18, 2020
This week we saw the Curis, Inc. (NASDAQ:CRIS) share price climb by 13%. But spare a thought for the long term...
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Sep 18, 2020
DENVER and VANCOUVER, BC, Sept. 18, 2020 /CNW/ - SSR Mining Inc.
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Sep 18, 2020
Ericsson has agreed to buy US-based wireless network provider Cradlepoint in a deal valued at $1.1 billion.Shares are rising 1.8% in Friday's pre-market trading. Ericsson (ERIC) said the acquisition is part of the Swedish telecom's ongoing strategy to boost its market share in the rapidly expanding 5G space. As such, the deal with Cradlepoint provides Ericsson's current 5G portfolio with access to tools that can connect devices using dedicated networks and global Internet of Things over a 4G and 5G platform.The purchase price, which is funded from Ericsson's cash-in-hand, will be paid upon full closure of the transaction. The acquisition, which is still subject to customary conditions, is expected to close before the end of Q4 2020.As a result of the deal, Ericsson's operating margins are expected to be negatively impacted by about 1% in 2021 and 2022 - where half is related to amortization of intangible assets which arise from the acquisition. Cradlepoint is expected to contribute to operating cash-flow starting in 2022. Ericsson added that the company's 2022 financial targets remain unchanged."The acquisition of Cradlepoint complements our existing offerings and is key to our strategy of helping customers grow the value of their 5G network investments," Ericsson CEO Börje Ekholm said. "Ericsson is uniquely positioned to build on Cradlepoint's leadership position in Wireless Edge and the wireless WAN market. Combining the scale of our market access and established relationships with the world's biggest mobile operators we are making a
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Sep 18, 2020
Baozun Inc. (NASDAQ:BZUN), is not the largest company out there, but it saw significant share price movement during...
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Sep 18, 2020
Miners may be the real winners from DeFi as a surge in Ethereum activity sees them earn a record $16 million in a day.
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Sep 18, 2020
What underlying fundamental trends can indicate that a company might be in decline? A business that's potentially in...
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Sep 18, 2020
(Bloomberg) -- Oil is poised for its biggest weekly advance since early June after Saudi Arabia piled pressure on fellow OPEC nations to deliver on promised output cuts.Futures in New York are up about 10% this week, despite bearish calls on the outlook from industry heavyweights such as BP Plc and Trafigura Group to the International Energy Agency. Saudi Arabia showed its determination to protect the recovery at an OPEC committee meeting on Thursday, lambasting members that have cheated on production quotas."All in all, the strong reiteration of OPEC 's commitment with its planned supply cuts is welcome news to the bulls in the market," said Harry Tchilinguirian, head of commodities strategy at BNP Paribas SA.Oil has clawed its way back above $40 a barrel this week, buoyed by a weaker dollar and a surprise decline in U.S. crude inventories. The market is still contending with an uneven recovery in consumption, with OPEC seeing a risk to demand from a second wave of the coronavirus, urging members to be proactive and ready to take further action.See also: Covid-19 Has Sidelined Enough Fuel to Power a Million PickupsSaudi Energy Minister Prince Abdulaziz bin Salman opened Thursday's meeting with a forceful condemnation of members that try and get away with pumping too much crude.This week, the IEA said the United Arab Emirates almost entirely disregarded its commitment to quotas last month, while tanker tracking data show Iraq is exporting more crude so far in September than it shipped in August, a sign it
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Sep 18, 2020
Philip Morris International Inc. (NYSE:PM) stock is about to trade ex-dividend in 4 days. Investors can purchase...
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Sep 18, 2020
(Bloomberg Opinion) -- It seems like a life hack for fixed-income investing.It's no secret that investors are living in a lower-for-longer interest rate world. In the U.S., this is clear by any number of metrics. The Federal Reserve's key short-term lending rate is pinned in a range of 0% to 0.25% and isn't expected to budge for years, at least; the yield on benchmark 10-year Treasury notes is 0.69%, after never falling below 1.32% before 2020; and the Freddie Mac 30-year mortgage rate set a new five-decade low of 2.86% last week. Meanwhile, companies can borrow as cheaply as ever. One often-cited example is Ball Corp., a junk-rated aluminum-packager, which sold $1.3 billion of 10-year debt last month at 2.875%, the lowest ever for U.S. speculative-grade debt with a maturity of longer than five years.Now what if I told you there were U.S. Treasury-guaranteed bonds that effectively yield 3.5% over 20 years?It sounds impossible. After all, Treasury Secretary Steven Mnuchin made a big deal earlier this year about bringing back auctions of 20-year Treasury bonds, like Tuesday's $22 billion sale, which priced to yield 1.213%. The 30-year U.S. yield peaked at 3.46% during the Fed's last tightening cycle and is now just 1.44%. So how can a 3.5% return still exist?In reality, the federal government offers other ways to lend to Uncle Sam besides just the $20.2 trillion of marketable U.S. Treasury securities quoted on a daily basis. One such example: Series EE savings bonds.I admit, I never would have given these non-tradable bonds a second
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Sep 18, 2020
(Bloomberg) -- The U.S. ban on Huawei Technologies Co. was supposed to hand leadership of the lucrative market for wireless base stations to Ericsson AB and Nokia Oyj. It's not working out that way.The crackdown on China's largest technology company has given startups such as Altiostar Networks Inc. and new entrants including Qualcomm Inc. a rare opportunity to grab a slice of the $35 billion the telecom industry spends each year on this crucial part of mobile phone networks."This could break up that tech vendor lock-in that's been around for decades," said Andre Fuetsch, chief technology officer of network services at AT&T Inc., the third largest U.S. wireless carrier. "It's about how do you create a much more competitive, innovative ecosystem."Base stations are the heart of cellular networks, powering millions of antennas that perch on cell towers and city rooftops all over the world. Until recently, these boxes were a proprietary combination of processors and software that had to be purchased all at once. Huawei, Ericsson and Nokia account for three quarters of this market, which is worth as much as $35 billion a year, according to researcher Dell'Oro Group.Open radio access network, or O-RAN, changes this by creating an open standard for base station design and ensuring all the software and components work well together -- no matter who is supplying the ingredients.This is a potentially radical shift. When telecom giants such as AT&T and China Mobile Ltd. want to expand their network they usually have
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Sep 18, 2020
Top news and what to watch in the markets on Friday, September 18, 2020.
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Sep 18, 2020
Chinese tech giant Tencent Holdings has changed the name of its WeChat Work office collaboration app to WeCom, setting it up as a potential alternative to its messaging app WeChat ahead of a U.S. ban. Tencent, registered the WeCom trademark on Aug. 19, according to the United States Patent and Trademark Office. Two Tencent sources said WeCom does not fall under the scope of a ban on WeChat-related transactions in the United States from Sept. 20, one of a series of U.S. measures cracking down on Chinese tech firms and apps that Washington says are threats to national security.
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Sep 18, 2020
(Bloomberg) -- In a month during which the red-hot trade in technology stocks has wavered and options activity dominated headlines, traders are facing another potential catalyst for market turmoil on Friday.Options and futures on indexes and equities are scheduled to expire, a quarterly event known as quadruple witching that typically fuels trading as large derivatives positions roll over. While spikes in volume usually occur around the open and close, providing windows of robust liquidity, large price swings can happen suddenly at any time of the day.The event is getting more attention than usual because options activity from small investors and the so-called Nasdaq whale have been blamed for whipping up turbulence in internet and software shares. Despite an 11% drop in the Nasdaq 100 from its Sept. 2 peak, open interest on bullish contracts tied to the gauge remains elevated. So was volume in calls linked to shares of tech titans like Apple Inc. and Facebook Inc."If you're heavily long tech, the quadruple witching is going to be a real fireworks show," Michael Antonelli, managing director and market strategist at Baird, said in a Bloomberg Television interview with Alix Steel. "There is going to be a lot of action."Quadruple witching can spark some of the busiest trading days of the year. The last event in June saw more than 16 billion shares changing hands, 30% above the average in the previous three months.The expiration event usually coincides with a rebalancing of major indexes such as t
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Sep 18, 2020
Many people see a likening between Tesla Inc (NASDAQ: TSLA) CEO Elon Musk and Apple Inc (NASDAQ: AAPL) co-founder Steve Jobs, but Bill Gates isn't one of them.What Happened: "You wouldn't walk into a room and confuse them with each other," the co-founder of Microsoft Corporation (NASDAQ: MSFT) remarked in an interview with Bloomberg on Thursday, when asked if Musk was the new Jobs."Elon is more of a hands-on engineer," the billionaire philanthropist added. "Steve was a genius at design and picking people and marketing."Gates acknowledged that Musk and others have made great contributions to the electric car and therefore to the "climate change effort.""He did it with quality," Gates said on Musk's efforts. "It's still a little premium-priced but fine. You know he's got that initial market," he observed.The former CEO of Microsoft said he was not trivializing in any way the need to raise the market share of electric vehicles but "on a relative basis it is far easier than the industrial economy where our progress is very very small."Why It Matters: Gates' comments come after he wrote a blog last month in which he theorized that all-electric options for heavy transportation are not very viable. Gates didn't make any mention of Tesla or Elon Musk in the post, while mentioning rivals such as Rivian and Bollinger, along with legacy automakers Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM). When Musk was asked about the opinion of Gates on the subject on Twitter, he replied "He has no clue." Previously, Musk had described his con
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Sep 18, 2020
Volkswagen AG (OTC: VWAGY) is spelling out its electric vehicle offensive under which it plans to sell millions of vehicles in multiple world markets, including the United States and China.What Happened: Ralf Brandstatter, CEO of the company's ID brand, and Thomas Ulbrich, a board member responsible for e-mobility, gave the details in an interview released by Volkswagen on Thursday, first spotted by Electrek.Brandstatter said the Germany-based auto giant has ambitions to lead the world market in e-mobility and is investing EUR 11 billion (about $13 billion) by 2024 to that end."We therefore expect the Volkswagen brand to produce a total of 1.5 million e-cars per year by 2025," said Brandstatter.The company's latest electric SUV -- the ID.4 -- will account for 500,000 of those vehicles, the executive revealed. Ulbrich said the automaker is confident of success in the SUV segment as they are the most popular vehicles in the U.S. and China. He said such vehicles are garnering market shares in Europe and Germany as well. Why It Matters: The ID.4 is already in production in Germany. It will be made in the United States, beginning 2022, at Chattanooga, Tennessee.Volkswagen claims the vehicle can cover a range of nearly 310 miles (500 kms).The company's production targets, as shared by Brandstatter are significantly above the current EV production levels. For context, it took industry leader Tesla Inc (NASDAQ: TSLA) 12 years from launching its first consumer car to manufacture
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Sep 18, 2020
Boeing's proposed safety upgrades in the 737 MAX aircraft were "positive progress" toward meeting cockpit and systems recommendations, Reuters reported citing comments by National Transportation Safety Board (NTSB) Chairman Robert Sumwalt.The comments come after the US air accident investigator faulted Boeing (BA) and the US Federal Aviation Administration (FAA) last year for development flaws of the 737 MAX jet. The 737 MAX has been grounded for more than a year after two fatal crashes, which killed 346 people in Ethiopia and Indonesia.According to the report, the comments by NTSB's Sumwalt were submitted during a 45-day public comment period for proposed 737 MAX design and operating changes laid out by the FAA last month. Separately, victims' families called for additional steps, saying that Boeing's proposed modification of a key software system called MCAS linked to both crashes does not address the jet's underlying aerodynamic problem, introduces greater complexity, and may create additional failure modes.Sumwalt, said the FAA's actions on the MCAS system were "positive progress" toward meeting the intent of the NTSB's own safety recommendation related to uncommanded flight control inputs. Sumwalt also said proposed changes to pilot procedures were "generally consistent with the intent" of another NTSB recommendation.The changes could pave the way for the FAA to lift a ban on the jet, potentially before year-end, according to the report. However, in addition to the FAA's final airworthiness directive
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Sep 18, 2020
Salesforce.com Inc (NYSE: CRM) - the cloud-based platform offering customer relationship management services, announced the "Salesforce Talent Alliance" on Wednesday.As a part of the initiative, Salesforce, along with its partners, plans to build a highly-skilled diverse workforce following estimates from market intelligence firm International Data Corporation (IDC). According to IDC's forecast released in 2019, Salesforce and its partners could create 4.2 million new jobs by 2024.What Happened: Salesforce CEO Marc Benioff tweeted on Thursday that the company plans to add around 4,000 new jobs over the next six months and up to 12,000 over the next year.The Salesforce Talent Alliance has almost 200 partners scattered around 40 countries. These partners have pledged to dedicate one-fifth of their open positions to newly qualified salesforce professionals.The partners are also required to assure job interviews for location aligned individuals and use competency-based interview questions to streamline the interview process.Why Does It Matter: In the last week of August, Bloomberg reported that Salesforce intended to downsize in the sales- and customer-support divisions with around 1,000 job cuts.The cloud-based software company said in a statement at the time that its strategy involved "continuing to hire and redirecting some employees to fuel our strategic areas, and eliminating some positions that no longer map to our business priorities."Salesforce also announced its earnings for the second quarter late
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Sep 18, 2020
Shares of Dave & Buster's Entertainment tumbled over 26.1% on Thursday, after the Wall Street Journal reported that the company might have to file for bankruptcy if it fails to strike a deal with a lender.Meanwhile, shares of the dining and entertainment company rose 4.8% in the extended trading session as Truist Financial said that investors are overreacting to the news.According to the Wall Street Journal report, Dave & Buster's (PLAY) is planning to layoff about 1,300 employees across seven US states in a move to cut costs.Truist Financial analyst Jake Bartlett called the share plunge during the regular trading session a "severe overreaction". Bartlett said that the Wall Street Journal referred to the company's disclosure made in its 2Q 10-Q filing that if it is not in compliance with debt covenants, it may file a voluntary petition for Chapter 11 bankruptcy.Bartlett continues to believe that the company's lenders will grant covenant relief, given recovering EBITDA of the company. The maintained a Buy rating on the stock with a price target of $22 (55.8% upside potential), saying that the pullback in the stock on the "unfounded" bankruptcy concerns acts as a buying opportunity.Last week, the company reported 2Q revenues of $50.8 million, which missed analysts' expectations of $80.9 million. Its top-line plunged 85% year-on-year, due to the coronavirus-driven shutdowns. (See PLAY stock analysis on TipRanks).Currently, the Street has a cautiously optimistic outlook on t
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Sep 18, 2020
Nvidia Corporation's (NASDAQ: NVDA) $40 billion acquisition deal of the British semiconductor Arm Ltd. is acting as an accelerant for a smaller market rival.What Happened: Patrick Little, CEO and President of SiFive Inc. in an interview with Reuters claimed that customer interest in their technology is on the rise.Patrick was a former Qualcomm Inc. (NASDAQ: QCOM) executive and was declared the new CEO and President of SiFive on Thursday.SiFive operates in the commercial RISC-V processor business, an open-source chip technology. Reportedly, since his appointment, Little was contacted by many of the company's customers "asking to work more closely on major designs.""Already, six of the top ten semiconductor companies are working with SiFive," Little said. "We just got a big basket of funding, and frankly now I know where all that needs to go."Since June, the company has raised over $125 million in two funding rounds. In August, SiFive raised million from its Series E funding round led by Korean semiconductor supplier SK Hynix Inc. Whereas in June, it raised $65.4 million from a Series D funding led by existing investors and new investor Qualcomm Ventures LLC.Why Does It Matter: Arm's acquisition by the American company during the United States-China tensions led to concerns that it could directly impact the semiconductor industry worldwide.The company's co-founder Hermann Houser expressed his views against the acquisition, dubbing it a "disaster" for all of Europe.According to CCS Insights Analyst Geoff Blaber, the
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Sep 18, 2020
Texas Instruments said it will ramp up its quarterly cash dividend by 13% to $1.02 as the semiconductor company continues to generate free cash flow.Texas Instruments (TXN) will be raising its quarterly dividend from $0.90 per share to $1.02, or $4.08 on an annualized basis. The higher dividend will be payable on Nov. 16 this year to stockholders of record on Oct. 30, 2020. The payout is still awaiting formal approval by the board of directors at the company's regular meeting in October."This dividend increase is an integral piece of Texas Instruments' disciplined approach to capital management and reflects the company's continued strength in free cash flow generation and its commitment to return excess cash to stockholders," Texas said in a statement.The dividend hike marks 17 consecutive years of dividend increases. In the 12-month period ending June 2020, Texas has paid 56% of its free cash flow in dividends.In addition, the semiconductor company said that as of the second quarter of 2020, it has also reduced its outstanding shares by 47% through its consistent share repurchases since the end of 2004.TXN shares have been on a steady gaining streak since hitting a low at the end of March and are now trading 9.5% higher than at the start of the year. The $141.52 average analyst price target suggests that shares are more than fully priced at current levels.Merrill Lynch analyst Vivek Arya recently reiterated a Buy rating on the stock with a $155 price target based on 26 times estimated 2021 enterprise value/free c
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Sep 18, 2020
Ericsson has agreed to buy U.S.-based wireless networking company Cradlepoint in a $1.1 billion deal, the Swedish telecoms gear maker said on Friday, as part of plans to expand its 5G-related products for business customers. The deal, Ericsson's largest in more than a decade, would give it access to tools that can connect devices using the so-called Internet of Things over a 4G or a 5G network. "We think this will give our customers a chance to generate new income sources within the enterprise segment," Ericsson finance chief Carl Mellander told Reuters.
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Sep 18, 2020
Ericsson has agreed to buy U.S.-based wireless networking company Cradlepoint in a $1.1 billion deal, the Swedish telecoms gear maker said on Friday. The deal, Ericsson's largest in more than a decade, would give it access to tools that can connect devices using the so-called Internet of Things over a 4G or a 5G network. "We think this will give our customers a chance to generate new income sources within the enterprise segment," Ericsson finance chief Carl Mellander told Reuters.
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Sep 17, 2020
Wednesday was a good day for investors of biotech Arrowhead Pharmaceuticals (ARWR). Shares took off to the tune of 40% following the release of positive trial data.In the Phase 2 open-label trial (AROAAT2002) assessing ARO-AAT for the rare genetic liver disease associated with alpha one antitrypsin deficiency (AATD), the treatment displayed convincing proof of a significant pharmacodynamic effect on AATD patients resulting in improvements in relevant biomarkers following 24 weeks of treatment.For H.C. Wainwright analyst Patrick Trucchio, the results are the latest addition to a pipeline "firing on all cylinders."The previous several weeks have seen positive updates on several noteworthy programs including ARO-APOC3 for high triglycerides (HTG), ARO-ANG3 for mixed dyslipidemia, and from JNJ-3989, Arrowhead's collaboration with Janssen on a treatment for chronic hepatitis B virus (CHB) infection. The rest of 2020 looks promising too, with the anticipation of further data readouts from the pipeline.In fact, the analyst counts Arrowhead as one of the investment firm's "favorite picks" and continues to believe "ARO-AAT is likely to emerge as the first therapeutic for the liver disease phenotype of AATD."Expanding on this, Trucchio said, "We think the very positive outcome in the Phase 2 open-label trial could drive increased enthusiasm among the alpha one community including patients, accelerating Arrowhead's program; moreover, we think Arrowhead could seek to
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Sep 17, 2020
The U.S. air accident investigator said on Thursday that proposed safety upgrades in the Boeing Co 737 MAX jet were "positive progress" toward meeting cockpit and systems recommendations it made after faulting Boeing and the Federal Aviation Administration last year for development flaws following fatal crashes. The comments from National Transportation Safety Board Chairman Robert Sumwalt were submitted during a 45-day public comment period for proposed 737 MAX design and operating changes laid out by the U.S. FAA last month. The 737 MAX was grounded worldwide 18-months ago after crashes killed 346 people in Ethiopia and Indonesia and raised questions about FAA certification of the aircraft.
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Sep 17, 2020
Oil prices rose for a fourth day in a row on Friday, putting crude on track for a weekly gain of about 10%, after Saudi Arabia pressed allies to stick to production quotas and banks including Goldman Sachs predicted a supply deficit. Brent crude was up 18 cents at $43.48 a barrel by 0756 GMT while U.S. oil futures rose 17 cents to $41.14. Both contracts are set for their strongest weekly gains since early June after Hurricane Sally cut U.S. production and OPEC and its allies laid out steps to address market weakness.
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Sep 17, 2020
Oil prices rose for a fourth straight day on Friday as Goldman Sachs estimated the market is in deficit and a new storm started building in the Gulf of Mexico, putting crude on track for a weekly gain of about 10%. Brent crude was up 27 cents, or 0.6%, at $43.57 a barrel by 0510 GMT, while U.S. oil futures gained 23 cents, or 0.6%, to $41.20 a barrel. Both contracts dipped at the start of the day but have risen sharply this week after Hurricane Sally cut U.S. production and OPEC and its allies laid out steps to address market weakness.
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Sep 17, 2020
It has been a tough year for Micron (MU), as the chipmaker has been heavily affected by adverse macro conditions. Yet, one analyst thinks the current share price could offer new investors an opportunity to get into MU on the cheap. 5-star Rosenblatt analyst Hans Mosesmann rates MU shares a Buy along with a $100 price target. This figure implies a 96% upside from current levels. (To watch Mosesmann's track record, click here)Mosesmann has longed banged the drum in Micron's favor and looking ahead to the company's August quarter (FQ4) earnings on September 29, Mosesmann implores investors snap up shares of the underperforming large-cap in anticipation of strong upside.So, what's behind Mosesmann's confidence? The analyst explained, "We continue to like Micron on the long-term prospects of 5G smartphones, AI and machine learning applications, and a memory upcycle (2021 expected), where Micron is in one of its best positions to capture this upside."Ahead of the print, Mosesmann forecasts sales of $6 billion, a quarter-over-quarter increase of 10.3%, and non-GAAP EPS to hit $1.05, in-line with Micron's guidance.The analyst counts "continued strength in data center (cloud and memory) from work-from-home related dynamics, new gaming consoles, and the start of a recovery in the smartphone market (5G) offset by weakness in enterprise" as the quarter's main drivers.However, Mosesmann's confidence is tempered by lower expectations for the following quarter. The analyst sees a "downward bias versus current consensus
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Sep 17, 2020
The resurgence in coronavirus cases is the biggest threat to the recovering euro zone economy, according to a Reuters poll of economists, who say growth and inflation are more likely to create negative surprises over the coming year than positive ones. While a strong euro zone rebound is underway as lockdown restrictions have been eased and businesses reopened, France and Spain among others in the 19-member bloc are grappling with a virus resurgence.
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Sep 17, 2020
Got homeownership on the brain? Before you take the plunge (or decide to sell your current space), it's worth asking: When is the best time to buy a house? Now? In six months? Never? We chatted with a small...
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Sep 17, 2020
How far off is Lam Research Corporation (NASDAQ:LRCX) from its intrinsic value? Using the most recent financial data...
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Sep 17, 2020
On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Advanced Micro Devices, Inc. (NASDAQ: AMD). He noticed aggressive buying in the name as traders bought around 7,400 contracts of the September $76 calls for 75 cents. Najarian followed the trade and he warned traders who want to do the same to remember that these calls expire on Friday.Najarian also noticed some activity in Bausch Health Companies Inc (NYSE: BHC). Options traders were active in the name for the second day in a row. On Wednesday, they bought 8,000 contracts of the October $18 calls and on Thursday, they bought more than 28,000 contracts of the September $17.50 calls. Najarian has a long position in Bausch Health Companies.He has also been adding to his long call position in Applied Materials, Inc. (NASDAQ: AMAT). He noticed consistent buying on pullbacks in the name and he decided to jump in.See more from Benzinga * 'Halftime Report' Traders Share Their Thoughts On Danaher, Uber And IBM * 'Fast Money Halftime Report' Picks For September 17 * Cramer Weighs In On Alteryx, Uber And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Sep 17, 2020
Michael Farr said on CNBC's "Fast Money Halftime Report" that he owns Danaher Corporation (NYSE: DHR) and he's going to continue to hold the stock. He added that the company is well managed, but it's not cheap at 32 times next year's estimates. Farr likes it long term, but he could trim at some point in the future.Josh Brown thinks that Uber Technologies Inc (NYSE: UBER) is the ultimate reopening play. It needs the reopening and it will respond incredibly when it happens, explained Brown. He expects the stock to break out above $40 and goes straight to $50. He owns the stock and he is sticking with it.Pete Najarian said that IBM (NYSE: IBM) is well worth owning. It has a 5% dividend yield and Najarian would also sell calls against the long stock position.See more from Benzinga * 'Fast Money Halftime Report' Picks For September 17 * Cramer Weighs In On Alteryx, Uber And More * Mike Khouw Sees Unusual Options Activity In Freeport-McMoRan(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Sep 17, 2020
Tech stocks are suffering despite little change in the outlook, and the broader market is falling in their wake.
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Sep 17, 2020
(Bloomberg) -- Hertz Global Holdings Inc. must change its plan to pay 14 top executives up to $5.4 million in bonuses if it wants win approval for the incentive program, says the judge overseeing the car renter's bankruptcy.Judge Mary Walrath sided with opponents of the payouts, who argued that the bonus program comes too soon after $16.2 million in retention money Hertz agreed to hand out to about 340 employees just days before it filed for bankruptcy in May. Walrath's order also nixed a new plan that would have split as much as $9.2 million among about 295 lower-ranking managers."It seems offensive to give senior executives bonuses" when some of them got retention payments immediately before Hertz headed for court, Walrath said in a hearing held by telephone on Thursday.Under the pre-bankruptcy retention plan, Chief Executive Officer Paul Stone received $700,000. With the new plan, Stone could have collected as much as $1.6 million.Bonus CurbsThe U.S. Bankruptcy Code restricts bonus payments to top executives, in part by requiring them to be tied to performance goals. Retention payments are allowed, but have tighter restrictions that make them harder to justify.Congress wrote the rules to ensure managers who drove a company into bankruptcy were not rewarded for staying around during a Chapter 11 case, Walrath said."More has to be done to show why employees who got retention bonuses and agreed to stay with the company are not going to do their best to see that the company survives and succeeds," Walrath sa
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Sep 17, 2020
Yahoo Finance's Akiko Fujita and Dan Howley discuss how shares of Snowflake slid after doubling in its public debut.
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Sep 17, 2020
(Bloomberg) -- Canadian miner Kinross Gold Corp. is boosting output and paying its first dividend in seven years after gold prices surged to a record.The Toronto-based company will give shareholders 3 cents a common share, the first payout since 2013, and resume quarterly dividends of the same amount, taking the total distribution to 12 cents a year, according to a statement Thursday. Production is expected to increase 20% by 2023.The move comes after investors flocked to the yellow metal as a safe haven, with the pandemic threatening to derail global economic growth. Spot gold climbed to a record $2,075.47 an ounce in August and while prices have declined since then, they are still up 28% this year, making it the second best performer in the Bloomberg Commodity Index of 22 raw materials."Our growing production profile, combined with our declining cost structure, is expected to drive strong and growing free cash flow," Chief Executive Officer J. Paul Rollinson said in the statement. "We are also studying further organic development options given our attractive pipeline of projects and promising exploration results."Kinross, one of the world's top-10 gold producers, will pay the dividend on Oct. 22 to all holders of its stock on record at the close of trading 14 days earlier, according to the statement. The last time the company paid a quarterly dividend was in March 2013, paying out 8 cents a share.The company also plans to boost output to 2.9 million gold equivalent ounces over the next three years
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Sep 17, 2020
Coca-Cola Co (NYSE: KO) is pleading for consumers, industry leaders, legislators, and others to "join us" in supporting restaurants.What Happened: Coca-Cola released results from its internal research on how the COVID-19 pandemic impacts the restaurant industry. Here are some of the more notable takeaways.Confidence Levels: Forty-six percent of restaurant owners that Coca-Cola interacted with are "somewhat confident" they will stay in business for the next 12 months. Another 45% are "very confident" while just 9% are "not confident."However, restaurant owners need some form of financial relief along with clear and consistent standards to remain open. Some of the forms of financial benefits include reduced local, state and federal fees related to operating their business, flexibility in laws to expand alcohol sales, extended tax deferments, among others.Restaurant owners believe on average that 55% capacity is the minimum threshold required to turn a profit.See Also: Yelp Says 61% Of Restaurant Closures Are PermanentA second wave of COVID-19 infections rank as the biggest concern among the restaurant community, followed by supply chain reliability, regaining lost customers, and weakness in the local economy."The Coca-Cola Company is committed to helping restaurants weather the storm of COVID-19 and thrive on the other side," said Kathleen Ciaramello, President, Foodservice & On-Premise at The Coca-Cola Company. will continue to seek out opportunities to provide innovative solutions and support as we work alongside restaurateurs to save on
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Sep 17, 2020
President Trump says he is 'not prepared' to sign off on the deal between Oracle and TikTok. Yahoo Finance's On the Move panel discusses.
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Sep 17, 2020
(Bloomberg) -- The Trump administration has asked gaming companies to provide information about their data-security protocols involving Chinese technology giant Tencent Holdings Ltd., people familiar with the matter said.The Committee on Foreign Investment in the U.S., which is chaired by the Treasury Department, has sent letters to companies, including Epic Games Inc., Riot Games and others, to inquire about their security protocols in handling Americans' personal data, said the people, who asked not to be named because the discussions are private.Tencent, the world's largest gaming company, owns Los Angeles-based Riot and has a 40% stake in Epic, which is the maker of the popular video game Fortnite. Representatives for the companies declined to comment or didn't immediately respond.The Treasury Department declined to comment. Tencent's American Depositary Receipts fell 2.4% to $66.66 after the report.Cfius investigates foreign acquisitions of American businesses for national security risks. It has authority to examine full acquisitions as well as non-controlling investments and recommend that the president block or unwind deals. It can also scrutinize deals that weren't voluntarily reported.Congress in 2018 increased Cfius's jurisdiction to review transactions by foreign companies retroactively for non-controlling investments if the companies involved maintain or collect sensitive personal data of U.S. citizens.The latest move is part of heightened scrutiny on Chinese companies and their ties to U.S. fir
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Sep 17, 2020
Follow the leader is a viable strategy in stock investing, as long as you find the right leader to follow. Corporate insiders, of course, are by their nature leaders. They are the company officers who run the show, and the nature of their position, or positions, puts them in position to access knowledge, even foreknowledge, that the ordinary investors simply doesn't have. This is a case where regulators have done the right thing. Insiders can make their trades - but they have to make them public. The investing public must be able to see what company officers are doing with the stock. And because these officers are not in it solely to make money for themselves, but are responsible to Boards of Directors, stock owners, and other stake holders, they usually don't start buying their own stock without good reason.Fortunately, the TipRanks' Insiders' Hot Stocks page provides the scoop on which stocks the market's insiders are buying - or selling - so that you can make informed purchases. We've picked three stocks with recent informative buys to show how the data works for you.HBT Financial (HBT)First on today's list is HBT Financial, a bank holding company with two subsidiaries operating in the State of Illinois. HBT owns Heartland Bank and Trust and State Bank of Lincoln. The company has a 100-year history in Central Illinois, offering a variety of banking services which today include credit cards, insurance loans, money transfer, wealth management, and other retail and commercial banking products. HBT boasts 63 branches in the
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