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G-20 leaders clash over values, face calls to protect growth
OSAKA, Japan (AP) — World leaders attending a Group of 20 summit in Japan that began Friday are clashing over values that have served for decades as the foundation of their cooperation as they face calls to fend off threats to economic growth. "A free and open economy is the basis for peace and prosperity," Japanese Prime Minister Shinzo Abe told his counterparts in opening the two-day G-20 meeting, which comes as leaders grapple with profound tensions over trade, globalization and the collapsing nuclear deal with Iran. While groups like the G-20 endeavor to forge consensus on broad policy approaches and geopolitical issues, they also are divided on an array of issues. Defying Chinese warnings not to bring up the issue of recent protests in Hong Kong, Abe told Chinese President Xi Jinping it was important for "a free and open Hong Kong to prosper under 'one country, two systems' policy," Japanese officials said, referring to the arrangement for the former British colony's autonomy when China took control in 1997. They said Abe reminded Xi of the importance of guaranteeing freedom, human rights, the "rule of law" and other universal values in raising concern over proposed Hong Kong legislation that would allow some criminal suspects to be extradited for trial in mainland China. The bill, now shelved, prompted protests by hundreds of thousands of Hong Kong residents and minor demonstrations elsewhere in Asia, including Osaka. Xi is not the only leader facing a pushback from his Western counterparts. European Union Council President Donald Tusk blasted Russian President Vladimir Putin for saying in an interview with the Financial Times newspaper that liberalism was "obsolete" and conflicts with the "overwhelming majority" in many countries. "We are here as Europeans also to firmly and unequivocally defend and promote liberal democracy," Tusk told reporters. "What I find really obsolete are: authoritarianism, personality cults, the rule of oligarchs. Even if sometimes they may seem effective." Story continues In the interview, Putin praised President Donald Trump for his efforts to try to stop the flow of migrants and drugs from Mexico and said that liberalism "presupposes that nothing needs to be done. That migrants can kill, plunder and rape with impunity because their rights as migrants have to be protected." Trump has at times found himself at odds with other leaders in such international events, particularly on issues such as Iran, climate change and trade. The schisms can vary. Putin, Xi and Indian Prime Minister Narendra Modi met and agreed on the need to rely on international law, respect national sovereignty and refrain from interference in the internal affairs of other nations, Putin said. Such statements are a swipe at Trump's "America First" approach in rejecting multilateral initiatives, but also draw a line against criticism of authoritarian governments like China's and Russia's. China has often sought support for defending global trade agreements against Trump's "America First" stance in gatherings like the G-20. A planned meeting between Trump and Xi on Saturday has raised hopes the world's two largest economies could attain a rapprochement in their festering dispute over technology and China's chronic trade surplus. The two sides have levied billions of dollars' worth of tariffs on each other's products. In Beijing, officials urged the U.S. side to meet China halfway in resolving the standoff. In a meeting with Brazilian President Jair Bolsonaro, Trump said he had not promised to hold back on imposing new tariffs on China. "I think it'll be productive," Trump said of his meeting with Xi. "We'll see what happens tomorrow. It'll be a very exciting day I'm sure," he said. "It's going to come out hopefully well for both countries." U.S. Trade Representative Robert Lighthizer and Commerce Secretary Wilbur Ross accompanied Trump to Osaka, suggesting potential for some movement after 11 rounds of talks with China stalled in May. But while prospects for detente in the trade war are in the spotlight, many participants prefer a broader approach to tackling global crises. "I am deeply concerned over the current global economic situation. The world is paying attention to the direction we, the G-20 leaders, are moving toward," Abe said. "We need to send a strong message, which is to support and strengthen a free, fair and indiscriminating trade system." Jean-Claude Juncker, president of the EU Commission, told the G-20 leaders their work was essential for building confidence to keep the world economy growing. Abe has sought to make the Osaka summit a landmark for progress on environmental issues, including climate change, on cooperation in developing new rules for the "digital economy," such as devising fair ways to tax companies like Google and Facebook, and on strengthening precautions against abuse of technologies such as cybercurrencies to fund terrorism and other types of internet-related crimes. On the rising tensions between Iran and the U.S., U.N. Secretary-General Antonio Guterres said the world can't afford the conflict and it is "essential to deescalate the situation" and avoid confrontation. Iran is poised to soon surpass a key uranium stockpile threshold, threatening the nuclear accord it reached with world powers in 2015. Iran's moves come after Trump announced in May 2018 that he was pulling the U.S. out of the deal and re-imposing economic sanctions on Tehran. The leaders of Brazil, Russia, India, China and South Africa, in a meeting on the G-20 sidelines, called for joint efforts to stabilize international trade and oppose protectionism. Putin, whose country faces an array of U.S. and EU sanctions, said at the meeting that "international trade has suffered from protectionism, politically motivated restrictions and barriers." He also emphasized the need for the BRICS nations to take coordinated action to help block sources of funding for terrorist groups. ___ AP journalists Kaori Hitomi and Vladimir Isachenkov contributed to this story. |
Rally on! Micron (MU) Stock Has Another 16% to Go, Says Deutsche Bank
Sometimes, low expectations are the best expectations.
Micron’s (MU) stock soared Wednesday as much as 14% after the company reported stronger-than-expected earnings. This is welcomed news for Micron, as before the earnings release, shares were down 25% since early May. But this doesn’t mean Micron is out of the woods just yet: The only reason the stock is up is because the company beat low Wall Street expectations, not because the company has turned itself around. Revenue and EPS both plummeted since last year (38.6% and 66.7%, respectively), but Wall Street sees the earnings beat as an encouraging sign.
AnalystSidney Hoof Deutsche Bank is in the bulls camp, as he maintains his Buy rating and $45 price target, which implies nearly 16% upside from current levels. (To watch Ho's track record,click here)
Micron reported revenue at $4.79 billion (2% higher than consensus) and EPS at $1.05 (more than four-times estimates). But the company still faces pressure from pricing — DRAM and NAND sales declined double digits, with pricing being the main reason why.
Nevertheless, Ho calls the report “strong.” The analyst says, Micron "is starting to see signs of a demand recovery in both DRAM and NAND, and customer inventory levels appear to be improving.” Internally, the analyst is encouraged by Micron’s disciplined capex and utilization strategy, with FY20 capex expected to be down meaningfully.
Ho is encouraged by the stronger financials and indicators for the future. He says Micron is “seeing early signs of a DRAM demand recovery and expects robust bit demand growth in 2H vs 1H CY19,” while cloud customers are “turning the corner on inventory levels and beginning to approach normal DRAM inventory levels.” On NAND, he says the “commentary appears to have turned more positive, as the company expects the market to stabilize in 2H CY19.
While the news was good this quarter, Ho does not believe it marks the trough. He believes the bottom will come either the August or November quarter, but he remains “confident that we are close and come away from the earnings call incrementally more positive on the memory market as signs of a recovery start to show.”
Micron has battled external challenges since the middle of 2018 when the chips market burst. Making matters worse is the ongoing trade battle between US and China. Micron relies heavily on China for sales, with more than 50% of revenue coming from the country, but most of the analyst community does not see either as a long-term problem.
When looking at Wall Street’s stance, Ho is not the only bull, asTipRanks analyticsshowcase Micron stock as a Buy. Out of 22 analysts polled in the last 3 months, 13 rate Buy on MU, 5 maintain Hold, while 4 issue Sell. The 12-month average price target stands at $42.90 marking about 16% upside from where the stock is currently trading.
To read more on the nitty gritty of what’s going on in the tech stocks space,click here.
Read more on MU:
• Micron (MU) Stock Has a New Bull
• Last Minute Thought: Buy or Sell Micron (MU) Stock Before Q3’19 Earnings?
• Micron (MU) Stock Remains a Longer-Term Value Play, Says Analyst
• Deutsche Bank Believes in Micron (MU) Stock Long-Term Even as Trade War Rages
• Is 33% Upside Good Enough to Risk Buying Fitbit (FIT) Stock? Deutsche Bank Doesn't Think So
• Deutsche Bank Remains Sidelined on AMD Stock; Here's Why
• Antitrust Investigation Is Not a Major Threat to Alphabet (GOOGL) Stock, Says Top Analyst
• Tesla's (TSLA) Gigafactory Is Impressive, But Its Stock Isn't, Says RBC Capital |
The Real Surprise of Jony Ive's Exit From Apple Isn't the Exit—Data Sheet
This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box,sign up here.
Sometimes a surprise departure isn’t much of a surprise. But the aftermath sure could be. Aaron in for Adam at week’s end, contemplating the “surprise”departureofAppledesign chief Jony Ive.
Although Ive joined Apple in 1992 while Steve Jobs was occupied elsewhere, the amiable Brit became one of the genius CEO’s most trusted and important lieutenants upon his return. Ive gets credit for the iconic designs of the iMac, the iPod, and the iPhone. But he’s beenincreasingly checked outof Apple’s product design process since the Apple Watch hit the scene in 2015. His last–and perhaps most lasting–legacy at Apple was the design of its spaceship-like new headquarters. After more than a decade of planning, design, and construction, the effort finally came to a complete and official end last month in aspectacular dedication ceremonyfeaturing a concert by Lady Gaga. So it was time for Ive to go. “This just seems like a natural and gentle time to make this change,” he toldThe Financial Timesin an exclusive interview.
Still, the big surprise was what happened next. Apple, the company made famous by its unique designs, did not name a replacement for Ive, who carries the title “chief design officer” and reports directly to CEO Tim Cook. Instead, two vice presidents, Evans Hankey and Alan Dye, were put in charge of hardware and software design, respectively. They’ll report to chief operating officer Jeff Williams, not Cook. Thatalarmed longtime Apple watcherand online columnist John Gruber:
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With the recent departure of retail boss Angela Ahrendts, who also reported to Cook, the Ive move starts to look like a trend (though Cook added A.I. expert John Giannandrea to his direct reports at the end of 2018). Could other longtime Apple managers be heading out soon? Software and services have never been more important to Apple, but is Golden State Warriors super fan Eddy Cue the right person to take those units to the next level? And tongues have begun wagging about chief marketer Phil Schiller’s future intentions since Apple hired Publicis Groupe chief creative officer Nick Law this week for a top marketing role (Lawtold colleagueshe was leaving for a “once in a lifetime opportunity.”)
We may whine and complainabout Apple’s icky laptop keyboardsand belittleits $1,000 monitor stands, but on the whole, Ive’s legacy will go down as one of the all-time greats. We’ll have to stay tuned to see what happens next.
Aaron Pressman@ampressmanaaron.pressman@fortune.com
1. NEWSWORTHYNothing to see here. Top politicians who like to post offensive tweets long have evadedTwitter’ssuspension guidelines due to the “public interest.” Now Twitter istaking a half-step to punisheven such famous tweeters as President Trump. The service will start pasting a label over the posts warning of possibly abusive content that has not been taken down due to the public interest. Readers will have to click through the label to see what’s so upsetting.Look me in the eye. Much news on thefacial recognitionbeat. Somerville, Mass., became the second city in the United Statesto ban police useof the technology, following the vision of San Francisco. Aninvestigationby web site Jezebel found thatAmazon’sRekognition program isn’t good at identifying transgender and nonbinary people. And the largest manufacturer of body cameras for police,Axon, said it wouldnot add facial recognitioncapabilities to its products. But who needs facial recognition anyways? The U.S. military hasdeveloped a laser-based systemdubbed Jetson that can identify individuals based on their heartbeat from a distance of 200 meters.Scourge of the spreadsheet jockeys. Security researchers atMimecastfound a serious vulnerability in Microsoft Excelthat could allow hackersto take over computers and launch malware.Microsofthas yet to issue a fix for the flaw in Excel’s Power Query tool, but announced a workaround to tighten security.Fighting the last war. The so-called crypto wars over whether the government should banencryptiontechnology that can’t be cracked by law enforcers have raged on and off in Washington, D.C., now for several decades. According to Politico, the Trump Administration isconsideringreviving the effort to ban unbreakable computer codes. Let the battle commence! While we’re discussing the crossover of national security and tech, theWall Street Journalhas a somewhat hyperbolic story behind the recent Trump decision to banAdvanced Micro Devicesfrom sharing chip technologywith a Chinese firm.
2. FOR YOUR WEEKEND READING PLEASUREA few longer reads that I came across this week that may be appealing for your weekend reading pleasure:How One Nonprofit Is Using Venture-Capital Tactics to Help Save Africa’s Last 20,000 Wild Lions(WSJ Magazine)In an era of Instagram-length attention spans, wildlife conservation philanthropies are trying new tactics to bring urgent attention to threatened species. Actress Michelle Rodriguez, model Jordan Barrett and photographer Gray Sorrenti band together to pitch in.The Hidden Cost of GoFundMe Health Care(The New Yorker)GoFundMe has acquired a wishing-well mystique. The sorts of help that people seek, meanwhile, trace the profile of American need. A third of the money raised on GoFundMe in 2017 was for medical expenses.Can Democrats Win Back the Internet in the Age of Trump?(Vanity Fair)As the curtain rises on the 2020 election, Democrats are still clinging to the quaint notion that political discourse on the internet will fix itself, that facts and reason will somehow overcome the baser human instincts that gave rise to Trump. A group of rebellious tech start-ups is trying to change that—by fighting back against Trump on his terms. Can it work?A dirty, rotten, double crossing (true) story of what happened to the Italian American mob(GQ)In the crucible of modernity that was 20th-century America, no one commanded more attention from writers, filmmakers and law makers than the Sicilian mafia. Sure, crimes change – rackets, extortion and hit men fell from the headlines, replaced by hackers, dark web drug runners and data fraud – but the goodfellas stuck around.
3. FOOD FOR THOUGHTPerhaps the greatest ever invention for keeping organized,Evernotewas a godsend when it debuted about 10 years ago. The ability to create a database of notes online and on your computer, later on your smartphone, too, was insanely useful. I still rely on Evernote for all kinds of tasks, including curating the Data Sheet. But the past few years have not been kind to Evernote the company, as formerFortunecolleague, nowNew York Timesreporter Erin Griffithrecounts in this colorful taleof the startup’s travails. CEO Ian Small is the fourth leader in the company’s short history, she notes.undefined
4. IN CASE YOU MISSED ITApple’s Latest Acquisition Shows Self-Driving Cars Are in the Doldrums of DisappointmentBy David Z. MorrisAmazon Counter Turns Rivals’ Storefronts—Starting With Rite-Aid—Into Package Pickup CentersBy Kevin KelleherWhatsApp’s Latest Test Brings It and Facebook Even Closer TogetherBy Xavier HardingVerizon 5G Service Expands to Two More Cities: Denver and ProvidenceBy Aaron PressmanClassic Rock Is Reanimating Summer 2019’s MoviesBy Hugh HartMore People Named Jeffrey Got Top CEO Jobs Than Women Last YearBy Shawn TullyHow to Watch U.S. vs. France Women’s World Cup Match Live Online for Free—Even Without CableBy Chris Morris
5. BEFORE YOU GOEven in this age of excessive TV, with more than 500 shows in production, it’s getting hard to kill a show that producers still want to produce. In the latest case, Netflix cancelled its fantastic reboot of the Norman Lear comedyOne Day at a Time, but CBS-owned basic cable network Pop TV hasdecided to pick up the showfor a fourth season. Catch up with the first three seasons on Netflix. You won’t be disappointed.This edition of Data Sheet was curated byAaron Pressman. Findpastissues, and sign up for other Fortunenewsletters. |
United Airlines to Add Flight on San Francisco-Hong Kong Route
United Continental Holdings has changed its name toUnited Airlines Holdings IncUAL with immediate effect.The company’s subsidiary United Airlines will be launching a second daily nonstop flight between San Francisco and Hong Kong beginning Oct 26. The carrier will operate twice daily on the route using a Boeing 777-200ER aircraft.This apart, the Chicago, IL-based airline has carried out several international route expansions from San Francisco this year. While it initiated nonstop seasonal service from San Francisco to Amsterdam, it extended the services connecting the former with Auckland, New Zealand and Tahiti, French Polynesia to year-round. The carrier also added a second daily flight between San Francisco and Seoul, South Korea. It also introduced a twice-daily service from San Francisco to Toronto, Canada. Come October, United Airlines is set to start a seasonal nonstop service to Melbourne, Australia while it will also initiate a seasonal service to New Delhi in December, both from San Francisco.With the commencement of the new services, United Airlines will cover a total of 29 international destinations from San Francisco, serving eight cities across Europe, India and the Middle East; seven in North America; and 14 in Asia and Oceania.
United Continental Holdings, Inc. Price
United Continental Holdings, Inc. price | United Continental Holdings, Inc. Quote
Boeing 737 MAX Grounding Period Stretched FurtherIt looks like the Boeing 737 MAX groundings are here to stay for a while now to haunt the airlines. Per the latest update from the Federal Aviation Administration, a new issue has cropped up with the aircraft, which unless resolved can’t certify the aircraft to fly again.Following this new hurdle, United Airlines stated that it will suspend all flights expected to occur on the MAX aircraft from its schedule through Sep 3. Consequently, nearly 60 flights will be cancelled each day in August. (Read more: United Airlines Extends 737 MAX Flight Cancellation Period)Meanwhile, Southwest Airlines LUV has announced that it is extending the MAX grounding period until Oct 1. Previously, the MAX grounding related flight cancellation period was estimated through Sep 2.Zacks Rank & Other Key PicksUnited Airlines carries a Zacks Rank #2 (Buy). Some other top-ranked stocks in the broader Transportation sector are Air China Ltd. AIRYY and Fly Leasing Limited FLY, both sporting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Shares of Air China and Fly Leasing have rallied more than 15% and 64%, respectively, so far this year.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportUnited Continental Holdings, Inc. (UAL) : Free Stock Analysis ReportAir China Ltd. (AIRYY) : Free Stock Analysis ReportSouthwest Airlines Co. (LUV) : Free Stock Analysis ReportFly Leasing Limited (FLY) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Deutsche Bank considers cutting up to 20,000 jobs
Deutsche Bank ( DBK.DE ) is considering cutting up to 20,000 jobs from its global equities division, according to reports. The Wall Street Journal reported on Friday that Deutsche Bank is looking at cutting 15,000 to 20,000 roles, equivalent to 20% of its global workforce. A spokesperson for Deutsche Bank said: “As we said at the AGM on May 23, Deutsche Bank is working on measures to accelerate its transformation so as to improve its sustainable profitability. We will update all stakeholders if and when required.” The Financial Times reported last week that Deutsche Bank is planning a radical overhaul of its business that will see it shut or shrink its US equities operation and hive off €50bn (£44.5bn, $56bn) of assets into a new “bad bank.” Deutsche Bank will instead focus on transaction banking and wealth management. The plans are not final. CEO Christian Sewing will likely announce the final overhaul plan at Deutsche Bank’s half year results in July. Deutsche Bank has been underperforming European rivals for years and Sewing appears to be considering radical measures to improve performance. “Since the onset of the global financial crisis ... large European investment banks have been losing market share to large US players and to a certain extent product specialists (eg, boutique advisory firms),” UBS banking analyst Daniele Brupbacher wrote in a recent note on the European banking sector. “The market share loss is broad-based across all three verticals but especially clear in equities.” Deutsche Bank’s “revenues have basically halved since 2006, while many US banks have enjoyed stark increases,” Brupbacher noted. Deutsche Bank’s equity division did not make the global top 10 for revenues last year, according to a table provided by UBS. Market share declined to 3.5% in 2018, down from over 6% in 2014. Deutsche Bank shares were up 3.6% on Friday afternoon European time. Shares had already been trading higher on the day after Deutsche Bank passed the Fed’s stress tests. |
Apple moves Mac Pro production to China from U.S. -WSJ
June 28 (Reuters) - Apple Inc is shifting the manufacturing of its new Mac Pro computer to China from the United States as trade tensions between the two nations escalate, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The tech giant has tapped contractor Quanta Computer Inc to manufacture the $6,000 desktop computer and is ramping up production at a factory near Shanghai, the report said https://www.wsj.com/articles/apple-moves-mac-pro-production-to-china-11561728769?mod=searchresults&page=1&pos=1.
Both, Apple and Quanta Computer did not immediately respond to requests for comment. (Reporting by Akanksha Rana in Bengaluru) |
Hottest Wall Street Stories of First Half
Amid widespread growth concerns and geopolitics, global stock markets are on track to record their best first-half performance in more than 20 years. This performance has been primarily driven by central banks across the world again moving to easy money policies. While some signaled interest rate cut, others offered fresh stimulus to tackle global growth headwinds. Additionally, trade deal hopes as well as slew of mergers & acquisitions added to the strength.Below we discuss some of the events that dominated the headlines in the first half and influenced the market:Fed Remains DovishThe Federal Reserve turned dovish at the start of the year and pledged to be patient. In its latest FOMC meeting concluded this month, Fed Chair Jerome Powell hinted at future rate cuts, if needed, to protect the economy from trade conflicts and other threats.The central bank dropped the word “patient” in favor of language promising to “closely monitor the implications of incoming information for the economic outlook.” Fed also said that it will "act as appropriate to sustain the expansion” because "uncertainties" have increased. Amid a lower-rate environment, high-dividend-yield sectors such as utilities and real estate will be the biggest beneficiaries given their sensitivity to interest rates.
Some of the top-ranked stocks from these spaces includeBrookfield Renewable Partners L.P. BEP,Atlantic Power Corporation AT,Invitation Home Inc. INVHandClipper Realty Inc. CLPR. These stocks have a Zacks Rank #1 (Strong Buy) or 2 (Buy), suggesting their outperformance in the months ahead. Further, these stocks are expected to generate solid earnings growth this year (BEP – 261.5%, AT - 50%, INVH – 443.5% and CLPR – 17.8%). You can seethe complete list of today’s Zacks #1 Rank stocks here.Trade and GeopoliticsAfter a brief period of calm, U.S.-China trade spat resumed in May after President Donald Trump increased tariff to 25% from 10% on Chinese goods worth $200 billion. In retaliation, China imposed as much as 25% tariff on U.S. imports worth $60 billion effective Jun 1. Trump also threatened to slap tariff on the remaining $300 billion of Chinese goods if there is no progress on the trade deal.The worsening relationship could ignite a global recession, compelling investors to take flight to safety. Meanwhile, rising tensions between the United States and Iran also raise appeal for the yellow metal. Trump signed an executive order to impose “hard-hitting” sanctions against Iran after a U.S. drone was shot down last week. These concerns coupled with lower interest rates pushed up the price of gold, which often acts as safe haven, benefiting gold mining companies.AngloGold Ashanti Limited AU, with a Zacks Rank #1 and VGM Score of A, emerged as the winner in June, gaining 49.2%. The Zacks Consensus Estimate for 2019 has moved up from 75 cents to $1.01 over the past three months. It has an estimated earnings growth rate of 90.6%.
Alamos Gold Inc. AGItook the shining spot in the first half, with gains of 68.9%. Its earnings estimate has moved up by a couple of cents for this year in the past three months. The stock has an estimated growth of 160% for this year. Alamos Gold has a Zacks Rank #3 (Hold) and a VGM Score of A.Oil RushOil price rebounded strongly at the start of the year on fresh OPEC-led output cuts, declines in Venezuela, Iran, potentially Libya and temporary outages in Russia. In addition, falling OPEC production and Fed’s dovish outlook also added to the strength. However, the impressive gains eroded in May on escalation in U.S.-China trade spat, which raised fears of global growth slowdown threatening demand. An inverted yield curve, which suggests imminent recession, also resulted in the decline. The combination of these factors sent oil price into a bear market territory.The bearish trend seems to be reversing lately, buoyed by two tanker attacks in the Gulf of Oman and rising U.S.-Iranian tensions that threatened oil supply at large. The Fed’s readiness to cut interest rates, which may stimulate global demand, also led to optimism.Amid the ongoing rush in oil prices,Torchlight Energy Resources Inc. TRCHstole the show climbing about 107% in the first half whilePioneer Energy Services Corp. PEShas been the biggest laggard, losing 78.8%. Both the stocks carry a Zacks Rank #3.Top Stock of 1HConforMIS, Inc. CFMStopped the list of best-performing stocks of the first half, skyrocketing about 984%. This medical technology company, which develops, manufacture and sells joint replacement implants, currently has a Zacks Rank #3 and a VGM Score of B. It has an estimated earnings growth rate of 41.9% for this year and delivered positive earnings surprise of 11.43% in the past four quarters.Today's Best Stocks from ZacksWould you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAtlantic Power Corporation (AT) : Free Stock Analysis ReportBrookfield Renewable Partners L.P. (BEP) : Free Stock Analysis ReportConforMIS, Inc. (CFMS) : Free Stock Analysis ReportAngloGold Ashanti Limited (AU) : Free Stock Analysis ReportAlamos Gold Inc. (AGI) : Free Stock Analysis ReportPioneer Energy Services Corp. (PES) : Free Stock Analysis ReportTorchlight Energy Resources, Inc. (TRCH) : Free Stock Analysis ReportInvitation Home Inc. (INVH) : Free Stock Analysis ReportClipper Realty Inc. (CLPR) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Community Health to Sell Hospital to Focus on Core Businesses
Community Health Systems, Inc.’s CYH units recently inked a definitive deal to divest its 92-bed Bluefield Regional Medical Center in Bluefield, WV and the related ancillary healthcare operations to Princeton Community Hospital’s subsidiaries. The transaction is subject to certain closing conditions.This deal is expected to close in the third quarter of 2019.This move is in line with the company’s strategy, which helps it focus on its core businesses that comprise large hospitals. Community Health is burdened with debt and has therefore taken up this portfolio rationalization strategy.Notably, in 2017 and 2018, the company sold hospitals worth $1.7 billion and $405 million, respectively. In the first quarter of 2019, the company continued with its divestment activities.Earlier this April, the company entered into a definitive agreement to divest its 245-bed Tennova Healthcare — Lebanon in Lebanon, TN and its related assets to the subsidiaries of Vanderbilt University Medical Center, which too is expected to close in the third quarter.These transactions are likely to boost the same-store metrics and cash flow of the company. The company could lower its debt level with these transactions. The sale of units is also going to result in reducing its leverage ratios.Although the company reduced its long-term debt by 3.5% in 2018, we believe, it will take up more divestments in the future to improve its debt level further.One of its peers, Tenet Healthcare Corp. THC, also shed some of its non-core and unprofitable facilities from its portfolio in order to repay its debt and maintain financial liquidity. A number of divestitures executed in the past three years streamlined the company’s operations and generated funds to pay down debt. The company’s strategic priorities include completing the hospital divestments and allocating capital to higher return investments in the capital structure.Shares of this Zacks Rank #3 (Hold) company have lost 22.3% in a years’ time against its industry’s growth of 14.7%.
Key PicksInvestors interested in the medical sector can take a look at some better-ranked stocks like WellCare Health Plans, Inc. WCG and HCA Healthcare, Inc. HCA.You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.WellCare Health offers managed care services to government-sponsored health care programs. The company pulled off average positive surprise of 13.52% in the preceding four quarters. It holds a Zacks Rank #2 (Buy).HCA Healthcare provides health care services. In the last four quarters, the company delivered average beat of 15.74%. It carries a Zacks Rank of 2.
Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportWellCare Health Plans, Inc. (WCG) : Free Stock Analysis ReportTenet Healthcare Corporation (THC) : Free Stock Analysis ReportHCA Healthcare, Inc. (HCA) : Free Stock Analysis ReportCommunity Health Systems, Inc. (CYH) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Marianne Williamson and Laura Dern were roommates in the ‘80s — and Twitter can’t deal
Marianne Williamson had Twitter abuzz during Thursday’s Democratic debate — and she continues to be a hot topic as people learned she was once Laura Dern ’s roommate. The spiritual teacher, self-help author and friend of Oprah’s answers during the debate have been dubbed weird and kooky — and her accent has been dissected. But there have been a lot of exclamation points over the fact that she and the Big Little Lies star once lived together in L.A. in the 1980s. laura dern and marianne williamson were roommates!!!!!!! pic.twitter.com/rutrhY1Wfa — corbin dewitt (@corbin_dewitt) June 28, 2019 Laura Dern was Marianne Williamson’s roommate and I need a full week’s rest to recuperate — Collin Smith (@CollinPSmith) June 28, 2019 I have a few journalists that follow me and I am begging you: I need to know everything about Marianne Williamson and Laura Dern living together. I need AT least 10,000 words on this and I would like it on my desk by monday! — Nü-Metal Respecter (@Steeeeeeeevens) June 28, 2019 The tidbit was included in a New York Times profile on Dern in May. The actress, daughter of Bruce Dern and Diane Ladd, “finished her high school coursework a year early,” it said. “Her mother helped her attain legal emancipation, which made it easier to work. At 17, she moved into her own apartment, where her roommate was” Williamson, who is 15 years older. Williamson had “started Project Angel Food, to feed people with H.I.V./AIDS, out of their living room.” Dern briefly enrolled at UCLA, but “two days into the semester, she withdrew to do Blue Velvet. ” In an interview soon after with U.K.’s The Guardian, Dern explained that her mother only allowed her to leave home at 17 on the condition she live with Williamson, who was older and more established. So they weren’t “college roommates” per se. Story continues This explains it well: Williamson is 15 years older and her college roommate was legendary producer Lynda Obst. Dern was required by her parents to move in with Williamson as a condition of her becoming emancipated at 17 and pursuing an acting career. — Geriatric Millenial JD (@Errorreporrt) June 28, 2019 Roommates is a weird way of saying it. Dern moved into her home at the age of 17 and enrolled at UCLA before dropping out. Williamson also officiated Liz Taylor's last wedding. She is a weird person. — Geriatric Millenial JD (@Errorreporrt) June 28, 2019 So Twitter has been freaking out over the connection. Old photos resurfaced: TIL Marianne Williamson was Laura Dern’s roommate when Dern was 17. https://t.co/Y4qI0t8JIe pic.twitter.com/0LoRegInl3 — Joanna Robinson (@jowrotethis) June 28, 2019 Dern’s Wikipedia was updated: THEY REALLY UPDATED LAURA DERN’S WIKI PAGE WITH MARIANNE WILLIAMSON pic.twitter.com/l6Nfy1IYJC — Jaz 🦇 (@SensitiveS8n) June 28, 2019 Though “best known for being former roommate” of Williamson seems a bit much: On Dern's Wiki entry it now opens with: "Best known as the former housemate of Marianne Williamson..." I kinda thought she was known for other things, but who am I? (Don't know how to paste the relevant wiki bit into a post so you'll have to Google it ourselves.. Soz) — Diamonds (@DiamondClasp) June 28, 2019 People have been speculating that Dern channeled Williamson in some of her roles — especially Enlightened , which saw Dern as an exec who had a “philosophical awakening.” Honestly if you’re looking for Williamson’s influence on Laura Dern watch the hbo show enlightened — roy (@creepingmraxist) June 28, 2019 So the only thing I got from the debate is that Laura Dern’s character in Enlightened is 1000% based on Marianne Williamson. — Breanne Thomas (@BreanneThomas) June 28, 2019 I just found out Marianne Williamson and Laura Dern used to be roommates and now have a theory about who inspired this performance. pic.twitter.com/CjyN0mQ898 — Steven Santos (@stevensantos) June 28, 2019 the whole debate all I was thinking about was how Marianne Williamson was the inspiration for the female characters in big little lies....now I know she was Laura dern’s roommate....everything is a simulation.. — coco butter (@bagelsandlooks) June 28, 2019 need to rewatch the entirety of twin peaks s3 and enlightened with the knowledge that laura dern was marianne williamson's roomate — D🌑CFUTURE (@topherflorence) June 28, 2019 Some other reactions: Can’t believe Marianne Williamson chose “author” as her title instead of “former roommate of Laura Dern” — Kori (@KoriInStyle) June 28, 2019 Williamson/Dern 2020! https://t.co/OMS13kwPW4 — Live-action Kevin Cole (@kevindotcole) June 28, 2019 When Marianne Williamson asked her old roommate Laura Dern whether she should start a presidential campaign pic.twitter.com/tL3HowFZvj — INTEROCITOR FURIOSA (@hitherehaidar) June 28, 2019 Of course, Nashville actress Connie Britton was roommates with another Democratic hopeful, Kirsten Gillibrand, in college. They both studied in Beijing and lived together there. Small world. Read more on Yahoo Entertainment: Pamela Anderson details alleged abuse by 'monster' Adil Rami: 'I needed to go to hospital because I was in so much pain' Beth Chapman, of 'Dog the Bounty Hunter' fame, dies at 51 ‘Jeopardy!’ fans and Alex Trebek shocked by super rare tiebreaker game Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle’s newsletter. |
How Herc Holdings (HRI) Stock Stands Out in a Strong Industry
One stock that might be an intriguing choice for investors right now isHerc Holdings Inc.HRI. This is because this security in the Transportation - Equipment and Leasing space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Transportation - Equipment and Leasing space as it currently has a Zacks Industry Rank of 33 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Herc Holdings is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Herc Holdings Inc. price-consensus-chart | Herc Holdings Inc. Quote
In fact, over the past month, current quarter estimates have risen from 20 cents per share to 29 cents per share, while current year estimates have risen from $3.05 per share to $3.21 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Herc Holdings. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
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Amedisys Rides on New Buyouts, Strength in Personal Care Arm
On Jun 26, we issued an updated research report onAmedisys, Inc.AMED. The stock carries a Zacks Rank #2 (Buy).
Shares of this renowned home health and hospice services provider have outperformed the broader industry over the past three months. The stock has surged 40.3% against the 18.4% decline of the industry.
At the Home Health and Hospice divisions, Amedisys is witnessing encouraging growth in Medicare and non-Medicare revenues. The company is currently exploring opportunities in these segments.
In this regard, Amedisys recently acquired the hospice care provider RoseRock Healthcare. This apart, with the acquisition of Compassionate Care Hospice, Amedisys now has ADC (average daily census) of 9,982, making it the third largest Hospice organization in the country. We are also impressed by the company’s solid performance in the recently-launched Personal Care segment. A favorable demographic trend and strategic buyouts bode well too.
Amedisys, Inc. Price
Amedisys, Inc. price | Amedisys, Inc. Quote
Of late, the company integrated a new operating segment into its Personal Care business. During the reported quarter, net service revenues totaled $20 million with total hours per quarter growing approximately 11%. Per management, this segment is stabilizing and performing per expectation.
Notably, Amedisys is currently focusing on improving its clinical quality. On this front, its 2019 STARs score preview by Center for Medicare and Medicaid Services (CMS) puts it on average of 4.27 stars. The company now has 52 care centers rated at 5 stars with 94% of the overall portfolio rated at 4 stars or better. Patient satisfaction average, per the last evaluation, was 3.96. This outperformed the industry average of 3.70. Amedisys is targeting to achieve a 4.0 Quality Star Rating for all its care centers.
However, escalating operating expenses are a persistent overhang. Also, an intense competitive landscape and regulatory concerns prevail in the home health and hospice industry.
Other Key Picks
A few other top-ranked stocks in the broader medical space are DENTSPLY SIRONA XRAY, Penumbra PEN and CONMED Corporation CNMD, each carrying a Zacks Rank of 2. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DENTSPLY’s long-term earnings growth rate is expected to be 11.5%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
CONMED’s long-term earnings growth rate is estimated at 13.3%.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPenumbra, Inc. (PEN) : Free Stock Analysis ReportAmedisys, Inc. (AMED) : Free Stock Analysis ReportDENTSPLY SIRONA Inc. (XRAY) : Free Stock Analysis ReportCONMED Corporation (CNMD) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Mohamed Salah stands with Egyptian teammate accused of harassment
Mohamed Salah is under fire for supporting a teammate accused of sexual harassment after earlier remarks that men should treat women better. (Photo by Ulrik Pedersen/NurPhoto via Getty Images) Mohamed Salah, the Liverpool striker who wants to see men in the Middle East treat women better , is getting blowback after supporting a teammate accused of sexual harassment and helping in his reinstatement. Amr Warda was cut from Egypt’s Africa Cup of Nations squad on Wednesday following allegations that he sent inappropriate messages . Salah and Pharaohs captain Ahmed Elmohamady intervened on the midfielder’s behalf and he was reinstated for the host team on Friday. It’s resulted in a complicated stance for Salah, who was championed two months ago for his strong stance on giving women more respect. Warda accused of sending ‘lewd,’ ‘aggressive’ messages Merhan Keller, a British-Egyptian model, shared screenshots this week showing inappropriate messages sent by Warda on Whatsapp and Instagram that were “lewd” and “aggressive,” according to The Guardian . Keller also shared screenshots and videos of conversations reportedly from other women who had received harassment, per the Guardian. And other women on social media shared similar screenshots, per the BBC . Warda, 25, allegedly became unpleasant when he was rejected. The Egyptian Football Federation (EFA) released a statement saying Warda was dismissed “in order to maintain the state of discipline, commitment and concentration.” He was set to miss the entire tournament, which Egypt is hosting. It’s at least the second time he’s been accused of harassing women. In 2017 while with a Portuguese club, he allegedly harassed two teammates’ wives and was cut from the team three weeks in. Warda apologizes, reinstated Warda posted a short video to social media the following day apologizing for the incident to his family, teammates, the EFA and “anyone who is upset at me or anyone I have upset,” per the Guardian . The EFA decided Friday to reinstate Warda and suspend him only until the end of the first round of the tournament. In a statement, President Hani Abu Reda “praised the spirit of solidarity between the players and their desire to pardon their colleague Amr Warda and to lift the suspension from him.” Story continues That solidarity was pushed by Salah, per reports , and came after teammates, notably the captain, held up his jersey after Egypt’s victory on Wednesday. What was @Pharaohs ’ @Elmo_27 thinking, by raising this jersey, in an apparent show of solidarity with Amr Warda? Does the @EFA & @MoSalah know this is bad for the image of the team? @monaeltahawy , what do you think about all this? pic.twitter.com/xpaqjDRgg1 — Osasu Obayiuwana (@osasuo) June 27, 2019 Salah intervenes for Warda Salah, 27, gained worldwide recognition as an advocate for women when TIME Magazine named him one of its 100 Most Influential People in April. Salah said women in Egypt deserve more than they receive now and “it’s not optional” to change how they are treated in the country for the better. He told TIME : “I support the woman more than I did before, because I feel like she deserves more than what they give her now, at the moment.” Salah stood in support of Warda with a series of tweets Wednesday in which he wrote that “many who make mistakes can change for the better and shouldn’t be sent straight to the guillotine, which is the easiest way out.” Women must be treated with the utmost respect. “No” means “no”. Those things are and must remain sacred. I also believe that many who make mistakes can change for the better and shouldn’t be sent straight to the guillotine, which is the easiest way out. — Mohamed Salah (@MoSalah) June 26, 2019 We need to believe in second chances... we need to guide and educate. Shunning is not the answer. — Mohamed Salah (@MoSalah) June 26, 2019 Fans, media question Salah’s stance Social media users, including media members, are taking the striker to task and many are asking what chance this if for Warda , because “it’s not the second.” They’ve called Salah complicit and questioned his role in the change the star player said he wants to see in the region. You’re an icon in Egypt, @MoSalah . And for this reason, you must choose your words and actions very carefully. Do you think the serial acts of Amr Warda, against women, can be pardoned, without him changing his awful behaviour, for which he clearly requires psychological help? https://t.co/ArHF334Lmu — Osasu Obayiuwana (@osasuo) June 27, 2019 We give second chances when those who committed a mistake are punished for their action, then comes the inclusion. But protecting misogynists from the consequences of their actions is not inclusion, it means that YOU are complicit. — Mai Shams El-Din (@maishams) June 27, 2019 If you really think we need to change the way we treat women in our culture, then punishing Warda for repeatedly harassing women is how start. This is one time in which the Egyptian Football Association is clearly right & you're clearly wrong. Warda has to face consequences — Timothy E Kaldas (@tekaldas) June 27, 2019 You give someone a second chance when they are showing remorse for what they did! When they are willing to take responsibility and apologise to their victims, the women who had to endure his sexual harassment. But what you just did right now is enable a repeat sex offender!! — Mona Seif (@Monasosh) June 27, 2019 Salah had a chance to take action in a cause he has championed and for which he was named a titan, but instead went the opposite direction. Egypt plays Uganda on Sunday in the third round of the group stage. More from Yahoo Sports: USWNT needs Alex Morgan to step up vs. France Rapinoe stands ground in cross-Atlantic Trump spat Report: Celtics are the favorite to land Walker Sources: Hill meets with NFL over child abuse charges |
Stock Market News for Jun 28, 2019
Broader markets rebounded on Thursday after investors turned optimistic about a near-term trade deal between the United States and China. According to reports, President Donald Trump will be presented with conditions by Chinese President Xi Jinping at the G-20 summit to bring the prolonged U.S.-China trade war to an end. Bank shares also gained ahead of the results of the Fed’s stress test results, boosting broader markets. The Dow Jones Industrial Average (DJI) decreased less than 0.1%, to close at 26,526.58. The S&P 500 gained 0.4% to close at 2,924.92. The Nasdaq Composite Index climbed 0.7%, finishing at 7,967.76. The CBOE Volatility Index (VIX) decreased 2.41% to close at 15.82. Advancers outnumbered decliners on the NYSE by a 2.43-to-1 ratio. A 2.81-to-1 ratio favored advancers on Nasdaq. How Did the Benchmarks Perform? The Dow dropped 10.2 points, declining for the third session on Thursday. Shares of Boeing (BA) slid 2.9% after the Federal Aviation Administration said on Jun 26 that Boeing must address an issue with its 737 MAX before the national grounding order on the jet was removed. Boeing carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . The S&P 500 gained 11.1 points. The broader market index was largely lifted by gains in bank stocks ahead of the Fed’s stress tests results. Shares of Citigroup C, Wells Fargo WFC and JPMorgan JPM gained 1.4%, 1.1% and 0.3%, respectively. Morgan Stanley MS Goldman Sachs GS,each gained 1.2%. The tech-laden Nasdaq also climbed 57.8 points higher on Thursday. Chip stocks were trading high on Thursday, with the iShares PHLX Semiconductor ETF (SOXX) rising 1.4%. Wall Street Uncertain About Tariff Ceasefire According to CNBC, China is seeking to seal a trade deal with the United States at the G-20 summit,. President Xi is expected to offer Trump a set of terms that must be accepted by U.S. in order to resolve the trade war, The Wall Street Journal reported. These terms include removing the ban on sale of American technology to Huawei Technologies Co., eliminating retaliatory import duties and withdrawing from its stated position that China would have to purchase additional American exports. Larry Kudlow, National Economic Council director, said that no preconditions are set for the U.S.-China trade meet and that U.S. may go ahead with additional tariffs. Economic Data The Department of Commerce’s final estimate for GDP left the metric unchanged at the previously estimated level of 3.1%. The economy expanded at a 2.2% pace in the October-November period. Story continues According to the Labor Department, initial claims for unemployment benefits increased to 227,000 during the week ended Jun 22, exceeding the estimated level of 218,000. Stocks That Made Headlines Accenture Q3 Earnings Surpass Estimates, FY19 View Up Accenture plc ACN reported impressive third-quarter fiscal 2019 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate. ( Read more ) Today's Best Stocks from Zacks Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year. See their latest picks free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Wells Fargo & Company (WFC) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Morgan Stanley (MS) : Free Stock Analysis Report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report Accenture PLC (ACN) : Free Stock Analysis Report To read this article on Zacks.com click here. View comments |
Why Radware (RDWR) Stock Might be a Great Pick
One stock that might be an intriguing choice for investors right now isRadware Ltd.RDWR. This is because this security in the Security space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Security space as it currently has a Zacks Industry Rank of 28 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Radware is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Radware Ltd. price-consensus-chart | Radware Ltd. Quote
In fact, over the past two months, current quarter estimates have risen from 12 cents per share to 13 cents per share, while current year estimates have risen from 58 cents per share to 67 cents per share. This has helped RDWR to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Radware. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportRadware Ltd. (RDWR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Why Chewy Stock Is the Most Promising IPO of 2019
Pets.com was one of the most spectacular failures of all time -- bankrupt just nine months after its IPO. So why is Chewy (NYSE:CHWY) stock such a hot commodity?Source: Lisa Zins via FlickrIts success so far shows that investors in Pets.com -- most notably, Amazon (NASDAQ:AMZN) -- weren't wrong. They were just early."People weren't online. They were using dial-up. They weren't comfortable putting their credit cards online. But over time, so much changed…you could suddenly ship 30-pound boxes from most of the country overnight," Chewy founder Ryan Cohen told TechCrunch earlier this month.InvestorPlace - Stock Market News, Stock Advice & Trading TipsToday, Chewy certainly ships plenty of them. The online pet supply store did $3.5 billion in sales last year. When you compare that to some of this year's other mega-IPOs, that's more than Lyft (NASDAQ:LYFT), Pinterest (NYSE:PINS) and Beyond Meat (NASDAQ:BYND) combined.Here's another factor that might be helping Chewy stock attract big money (like hedge fund Lone Pine Capital):Chewy is operating in a growing, recession-proof market -- pet care -- without much competition. * The Top 8 Tech Stocks of 2019 (So Far) Ask any pet owner: their "fur babies" are viewed as part of the family. They continue to spend even in a bad economy. According to the American Pet Products Association, from 2008 to 2010, pet spending actually increased by 12%. And online pet spending is set to grow at a 17% CAGR from 2016 to 2022, reports Chewy in its SEC Prospectus.PetSmart would be the only real competition for those dollars. But having bought Chewy in 2017, PetSmart is playing on the same team; it still holds 70% of overall shares and 77% of voting shares after the Chewy IPO.Chewy's biggest competitor is Amazon. And so far it's holding its own. CHWY Stock By the NumbersSales growth has been parabolic ever since Chewy's founding in 2011. At the same time, it's already a tennis ball's throw away from profitability: just 2.7% in the red last year.Source: Chewy, Inc. SEC Form S-1And within its $3.5 billion in sales, two-thirds were from its auto-ship program.Other companies dream of having -- and keeping -- more than $2 billion in automatic sales. Last year, sales from Chewy's existing customer base gained 120%.In a world where you can hardly compete with Amazon on much else, Chewy is distinguished by a relentless focus on the customer. You can talk to one of its "online pet experts" 24/7. Plus, their personal touch is legendary on social media. Just before the Chewy IPO, photos of a condolence card and hand-painted oil portrait honoring one customer's beloved pup went viral.Chewy's founders set out to recreate the neighborhood pet store and the feeling of being helped by a fellow pet parent who you trust. If you can recreate that feeling online -- well, that's a recipe for a great subscription model.Subscription sales are key, as anyone from Microsoft (NASDAQ:MSFT) to Unilever's (NYSE:UN) Dollar Shave Club can tell you. And Chewy will do anything to keep you, from its refund policy and human touch, to letting you reschedule your auto-ship to tomorrow… no questions asked.It's a little tough to compete with Amazon on scale. But Chewy's relationship to PetSmart (with its network of 1,600 stores nationwide) will help. Chewy is set up to deliver to 80% of Americans overnight and nearly 100% within two days.We're a long way from Pets.com and the other dot-com busts of the early 2000s. If there's anything we know today, it's that convenience is key -- just ask Amazon and Netflix (NASDAQ:NFLX).As long as Chewy can pull out all the stops to get the customer whatever they need, whenever they need it, it has got a business model that'll be tough for anyone to crack.As of this writing, Ashley Cassell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 8 Tech Stocks of 2019 (So Far) * 10 Defense Stocks to Buy During Rising Geopolitical Tensions * The 7 Best ETFs to Own for a 5G Boom Compare Brokers The post Why Chewy Stock Is the Most Promising IPO of 2019 appeared first on InvestorPlace. |
Longhorn Steakhouse Made An Ice Cream That’s Stuffed With Steak Jerky And Bourbon Caramel Swirls
Photo credit: Instagram From Delish Gone are the days where you have to eat dinner before dessert - now you can just have both at once! Longhorn Steakhouse is adding Steak & Bourbon Ice Cream to its menu, and you have to try it to believe it. The new dessert is mixed with Longhorn’s exclusive char seasoning. The sundae is filled with Jim Beam bourbon caramel sauce and mixed with real bits of steak. Yes, steak in your ice cream. It’s topped with bourbon caramel sauce, whipped cream, and “steak sprinkles,” a Longhorn rep told Best Products. We’re just as intrigued as you are. View this post on Instagram Introducing Steak & Bourbon Ice Cream. A chilled take on LongHorn’s legendary steak. Available on July 1st at select locations. www.longhornsteakhouse.com/steakicecream A post shared by LongHorn Steakhouse (@longhornsteaks) on Jun 25, 2019 at 7:12am PDT “Steak. Bourbon. Ice cream. They all come together in two savory scoops. Put your fork down and pick up a spoonful,” the description says. The $3.99 sundae will hit Longhorn’s menu beginning on July 1. It’s only around for a limited time, so you don’t want to miss this out-of-the-box combination! As expected, some people on social media are hesitant or downright against the dessert. One commenter summed it up pretty well: “It sounds gross, but I have to try it.” ('You Might Also Like',) Crave Carbs? We Created This 21-Day Keto Plan Just for You Insanely Easy Weeknight Dinners To Try This Week 29 Insanely Delicious Vodka Cocktails View comments |
Amgen's Osteoporosis Drug Evenity Gets Adverse CHMP View
Amgen Inc.AMGN and Belgian partner UCB announced that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) has rendered a negative opinion on the marketing approval of its osteoporosis drug, Evenity (romosozumab).
Amgen is seeking an approval of Evenity for the treatment of severe osteoporosis in postmenopausal women, who stand at a risk of fracture.
The companies are planning to submit a written notice to the regulatory agency, requesting a re-evaluation of Evenity for the given indication.
Notably, Evenity gained an approval in the United States earlier this April for the treatment of osteoporosis in postmenopausal women, who are at high risk of fracture. However, the nod came with a boxed warning. The drug’s label states that treatment with Evenity may increase the risk level of myocardial infarction (heart attack), stroke and cardiovascular death and that it should not be administered to patients, who already suffered heart attack or stroke in the preceding year. The company is required to conduct a post-marketing study to evaluate the cardiovascular safety of Evenity in postmenopausal osteoporosis women.
The drug had received an approval for a similar indication in postmenopausal women as well as men in Japan, earlier this January.
This CHMP’s response was based on data from three pivotal phase III studies, namely FRAME, ARCH and BRIDGE, which evaluated Evenity in postmenopausal women with osteoporosis, who are at a high risk of fracture and men with osteoporosis.
Evenity treats osteoporosis by increasing bone formation and reducing bone resorption simultaneously. This increases bone mineral density (BMD) and lowers the risk of fracture.
Shares of Amgen have decreased 5.5% so far this year versus the industry’s increase of 2.7%.
We remind investors that Evenity was issued a complete response letter (CRL) by the FDA in July 2017 due to a cardiovascular side effect observed in a study. Last July, Amgen and UCB re-submitted the biologics license application (BLA) to the regulatory body for Evenity.
Notably, Evenity is likely to face stiff competition from Radius Health’s RDUS Tymlos injection, which is already approved for treating postmenopausal women with osteoporosis, who are at a high risk of fracture. Novartis’ NVS Reclast is also approved for treating osteoporosis.
Zacks Rank & Key Pick
Amgen currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the healthcare sector is Acorda Therapeutics, Inc. ACOR, which sports a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Acorda’s loss per share estimates have been narrowed 6.5% for 2019 and 6.9% for 2020 over the past 60 days.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportNovartis AG (NVS) : Free Stock Analysis ReportAcorda Therapeutics, Inc. (ACOR) : Free Stock Analysis ReportAmgen Inc. (AMGN) : Free Stock Analysis ReportRadius Health, Inc. (RDUS) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Company News for Jun 28, 2019
• Walgreens Boots Alliance, Inc.’s WBA shares increased 4.1% after its third-quarter fiscal 2019 earnings of $1.47 per share surpassed the Zacks Consensus Estimate by 3.5%
• KB Home’s KBH shares climbed 7.9% after its second-quarter fiscal 2019 earnings of $0.51 per share exceeded the Zacks Consensus Estimate of $0.39 per share
• Lyft, Inc.’s LYFT shares gained 1.7% after Alphabet Inc.’s (GOOGL) subsidiary Waymo, an autonomous vehicle firm, officially launched a program to introduce some self-driving minivans to Lyft’s customers
• Conagra Brands, Inc.’s CAG shares dropped 12.1% after its fourth-quarter fiscal 2019 earnings of $0.36 per share missed the Zacks Consensus Estimate of $0.42 per share
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportKB Home (KBH) : Free Stock Analysis ReportConagra Brands Inc. (CAG) : Free Stock Analysis ReportWalgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis ReportLyft, Inc. (LYFT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Fans Think Kylie Jenner is Overheard Saying 'I'm Pregnant' in Khloé's Birthday Video
Is Kylie Jenner pregnant with baby #2? The Kylie Cosmetics mogul may have been overheard telling party guests "I'm pregnant" in footage caught on tape by Khloé Kardashian . The entire KarJenner clan came together to celebrate KoKo's 35th birthday, and in a video shared by Khloé someone in the background announces they're expecting ... and fans think it sounds like Kylie. At one point, Khloé is showing off some sweet treats that spell out "Happy F***ing Anniversary of Absolute Perfection," and if you listen closely, you can clearly hear someone say off camera, "I'm pregnant." Fans are going wild with the idea that the mystery voice might be Kylie. "Ok I’m calling it. Kylie Jenner is pregnant again," one fan wrote on Twitter. "OMG did you all hear it too? Kylie says she's pregnant," tweeted another. This would be Kylie's second baby with boyfriend Travis Scott . The two welcomed their daughter, Stormi Webster , in February 2018. The billionaire has opened up about her desire to have more children in the future, but said she wasn't in any hurry. However, fans were shocked on a recent episode of "KUWTK" when she revealed she keeps plenty of pregnancy tests on hand. During last Sunday's episode, she makes Khloé take a test after the Good American founder states she's not feeling well. Kylie and their mom, Kris Jenner , took one too. While she didn't appear pregnant then, a few months have passed since filming so it's not out of the question. At the time of this post, Kylie Jenner has yet to confirm or deny the pregnancy -- but if it's like last time, we'll find out in about 9 months. |
Uncertainty Changes but Does Not Negate the Case for AMD Stock
Investors in AMD (NASDAQ:AMD) face a conundrum. The long-term outlook for AMD stock has never looked better in the company's 50-year history. More importantly, AMD has taken a technological lead over its long-time nemesis, Intel (NASDAQ:INTC). It has also engaged in a vigorous competition with Nvidia (NASDAQ:NVDA) on the graphics side.Source: Matthew Rutledge via FlickrHowever, both trade- and price-related circumstances have cast doubts over the nearer-term direction of Advanced Micro Devices stock. For these reasons, winning with AMD will take balancing its short-term struggles with the overall success that continues to benefit the company. The Long-Term Case for AMD Has Never Looked BetterWithout a doubt, AMD stock benefits from a rosy long-term outlook. Despite its status as the best-performing equity in the S&P 500 last year, AMD's renaissance may have only just begun. With a market capitalization of $32 billion, it has a long way to catch up to Intel's $215.75 billion size. It also remains much smaller than Nvidia, which supports a market cap of around $97 billion.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * The Top 8 Tech Stocks of 2019 (So Far) The financials indicate Advanced Micro Devices stock is expensive, yet inexpensive. What that means is AMD supports a trailing price-to-earnings (P/E) ratio of 120 and trades at more than 18 times its book value. However, its forward P/E currently stands at just over 30.With analysts projecting earnings growth at 41.3% this year and 55.4% the next, AMD stock appears cheap. Regarding book value, investors should consider that the stockholders' equity of $1.79 billion increased 150% on a year-over-year basis. Hence, the price-to-book ratio should also continue to fall. Trade Dispute, Charts Hamper AMD StockUnfortunately, market and geopolitical factors have influenced Advanced Micro Devices stock. Due to trade restrictions, the company has stopped switching laptop parts to Huawei. A ban on certain super-computing firms also hits AMD.Currently, AMD holds a 51% stake in one of the five banned firms, Chengdu Haiguang Microelectronics Technology. We do not yet know the impact such bans will have on earnings. We should have more clarity when the company reports on July 23. Still, we can reasonably assume it will bring a negative impact at some level.Moreover, AMD stock may have formed a double top. Following the recent deal with Samsung, I predicted that AMD could surge past the $34 per share level. It went on to peak at 30 cents per share above that level a few days later before pulling back. Shares also reached a similar level last fall before pulling back. Invest Incrementally Tnto Advanced Micro Devices StockThe math driving AMD stock should force it above $34 per share at some point; the question is when. Furthermore, the U.S.-China trade dispute is hard to predict. The nature of this dispute has led me to believe it will end only when China can find a face-saving resolution to the deal.Given the conditions, the question should revolve around how, not whether investors should buy AMD stock. Here I would advocate a partial position.This would mean buying AMD with no more than 50% of the investment cash allocated for that equity. That way, if the trade dispute ends tomorrow, investors can profit. Also, if the AMD stock price falls to $28 per share, $26 per share, or some other support level, investors can buy at a discount. Concluding Thoughts on AMD StockGiven the internal success and external challenges affecting AMD stock, investors should take an incremental approach. Under CEO Lisa Su, AMD has finally reached its potential as a competitor to both Intel and Nvidia. With the much smaller size of AMD, the company should enjoy years of high growth as more users choose to run equipment on AMD chips.However, uncertainty over trade rules has hurt both manufacturing and sales in China. Moreover, AMD's inability to stay above $34 per share concerns prospective buyers. Theoretically, it limits the likely nearer-term upside when the current AMD stock price stands at close to $30 per share.In cases such as that, investors might serve themselves best by buying smaller positions now. Going into AMD stock at 50% would allow investors to benefit should the trade dispute end soon. It also leaves capital available to buy if AMD falls further.Uncertainty may have forced Advanced Micro Devices stock to pause for now. However, with a different approach to buying, investors can make AMD stock investable for both the short and long term.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 8 Tech Stocks of 2019 (So Far) * 10 Defense Stocks to Buy During Rising Geopolitical Tensions * The 7 Best ETFs to Own for a 5G Boom Compare Brokers The post Uncertainty Changes but Does Not Negate the Case for AMD Stock appeared first on InvestorPlace. |
Here's Why Momentum Investors Will Love MercadoLibre (MELI)
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look atMercadoLibre (MELI), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. MercadoLibre currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if MELI is a promising momentum pick, let's examine some Momentum Style elements to see if this operator of an online marketplace and payments system in Latin America holds up.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For MELI, shares are up 2.38% over the past week while the Zacks Internet - Commerce industry is up 2.08% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 5.6% compares favorably with the industry's 2.18% performance as well.
While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of MercadoLibre have increased 21.77% over the past quarter, and have gained 105.75% in the last year. In comparison, the S&P 500 has only moved 4.79% and 10.49%, respectively.
Investors should also take note of MELI's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, MELI is averaging 565,352 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with MELI.
Over the past two months, 5 earnings estimates moved higher compared to 1 lower for the full year. These revisions helped boost MELI's consensus estimate, increasing from $0.40 to $1.16 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that MELI is a #2 (Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep MercadoLibre on your short list.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMercadoLibre, Inc. (MELI) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Here's Why Hallmark Financial (HALL) is a Great Momentum Stock to Buy
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look atHallmark Financial (HALL), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Hallmark Financial currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if HALL is a promising momentum pick, let's examine some Momentum Style elements to see if this property and casualty insurance company holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For HALL, shares are up 8.76% over the past week while the Zacks Insurance - Property and Casualty industry is flat over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 17.8% compares favorably with the industry's 2.51% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Shares of Hallmark Financial have increased 33.37% over the past quarter, and have gained 39.88% in the last year. On the other hand, the S&P 500 has only moved 4.79% and 10.49%, respectively.
Investors should also take note of HALL's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, HALL is averaging 112,021 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with HALL.
Over the past two months, 2 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost HALL's consensus estimate, increasing from $1.15 to $1.35 in the past 60 days. Looking at the next fiscal year, 2 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that HALL is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Hallmark Financial on your short list.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportHallmark Financial Services, Inc. (HALL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Deutsche Bank's U.S. Unit Clears Second Round of Stress Test
Beleaguered by litigation issues, dismal performance and regulatory probes over the past few months,Deutsche BankDB got a boost from the Federal Reserve’s approval to its capital plan. The bank’s U.S. subsidiary, DB USA Corporation (“DBUSA”), cleared the second level of the Fed’s stress test 2019, which allowed the German lender to increase investors’ payouts.Deutsche Bank’s clearance of the annual stress test conducted by the Fed to determine that the banking giants are adequately capitalized to survive under a tremendously difficult economic scenario and a subsequent capital plan approval lend a ray of hope to the CEO Christian Sewing in implementing its turnaround strategies. However, the plans got delayed due to the rising concerns over the health of the bank’s U.S. operations."This is excellent news," Sewing told employees in a memo published late Thursday. "Achieving success here was one of the key goals we set a year ago. And it is a huge step forward for our business in the US and globally. A strong operating platform in the Americas is essential to our clients."The Fed concluded that even in an adverse economic condition, DBUSA’s Common Equity Tier 1 capital would remain above the minimum requirement of 4.5% and would not fall below 14.8% over the nine-quarter planning horizon.Notably, DBUSA’s capital scheme was rejected by the Fed last year on account of “widespread and critical deficiencies” in its capital planning. Also, the reviewer found weakness in data capabilities and controls that contributed to DBUSA’s capital planning process.The stress test results bear a testimony to Deutsche Bank’s status. Meanwhile, shares of the company have declined around 29% on the NYSE in the past year, due to a number of factors including worries over balance sheet, business operations, costs-control measures and failed merger talks with Commerzbank AG.
Therefore, continuing with its overhauling moves for reviving profitability, the bank’s plan includes detailed restructuring efforts as Sewing enforced "tough cutbacks" to shareholders following futile merger talks with Commerzbank. Per the plan, the German bank is anticipated to decrease its risk-weighted assets by 20-25% over the next 3-5 years.Notably, other initiatives reflect cutbacks in the U.S. equities trading business including the prime brokerage and equity derivatives. The financial institution would create a ‘bad bank’, a measure used by the failed U.K. banks post the 2008 financial crisis.The newly-formed unit will hold innumerable Euros of assets worth around €50 billion as Sewing is trimming its investment banking division. This includes Sewing’s plans to shrink or shut down the equity and rates trading businesses outside continental Europe completely and focus on the core transaction banking and private wealth management operation.Further, the strength of employees to be affected by these endeavors is currently uncertain. The bank will likely reduce the headcount to below 90,000 from the existing 91,463.Nonetheless, these revamping steps are anticipated to postpone some of the bank's targets including the goal of achieving a return on the tangible equity of 4% in 2019.Deutsche Bank faces immense pressure to slash its investment banking division following the collapse of its merger talks with the domestic rival Commerzbank. Though the bank’s restructuring attempts including cost-saving measures look encouraging, it is difficult to determine how much it will gain, considering the prevalent headwinds. Nevertheless, Fed’s approval to its capital plan is likely to raise investors’ optimism on the stock.Deutsche Bank currently carries a Zacks Rank #3 (Hold).Stocks to ConsiderCredit Suisse Group CS has been witnessing upward estimate revisions for the past 60 days with the company’s shares having risen nearly 10.7% on the NYSE in six months’ time. The company carries a Zacks Rank #2 (Buy) at present. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.DBS Group Holdings Ltd DBSDY has been witnessing upward estimate revisions for the past 60 days. Over the past six months, this Zacks #1 Ranked stock has increased more than 9% on the NYSE.Banco Latinoamericano de Comercio Exterior, S.A. BLX has been witnessing upward estimate revisions for the past 60 days. In the past six months, this Zacks Rank #1 company’s shares have rallied more than 19% on the NYSE.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportDeutsche Bank Aktiengesellschaft (DB) : Free Stock Analysis ReportBanco Latinoamericano de Comercio Exterior, S.A. (BLX) : Free Stock Analysis ReportDBS Group Holdings Ltd (DBSDY) : Free Stock Analysis ReportCredit Suisse Group (CS) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
ReneSola (SOL) Q1 Earnings Miss, Revenues Beat Estimates
ReneSola Ltd.SOL incurred a loss of 14 cents per American Depositary Share (ADS) from continuing operations in first-quarter 2019, wider than the Zacks Consensus Estimate of a loss of 11 cents. The reported figure came in line with in the year-ago quarter number.Notably, the loss incurred in the reported quarter can be attributed to the company’s dismal top-line performance and deteriorating gross margin figure.
Revenues
ReneSola’s first-quarter net revenues of $13.1 million surpassed the Zacks Consensus Estimate of $9 million by 50.1%. The top line, however, declined 71% year over year but 134% sequentially.
Nevertheless, quarterly revenues exceeded the company’s projected range of $8-$10 million. The upside can be contributed to sales of 21.1 MW of project rights in Minnesota and sales of 31.2 million KwH of energy generated by its rooftop DG projects in China.
Renesola Ltd. Price, Consensus and EPS Surprise
Renesola Ltd. price-consensus-eps-surprise-chart | Renesola Ltd. Quote
Projects
As of Mar 31, 2019, ReneSola had over 228 megawatts (MW) of rooftop projects in operation. Of this, the company operates 207.8 MW of rooftop projects in China, 15.4 MW in Romania and 4.3 MW in the United Kingdom. Looking ahead, it has 11.4 MW of rooftop projects under construction in China.
As of Mar 31, 2019, the company had a pipeline of almost 1.4 gigawatts of projects in various stages, of which, 753 MW are late-stage projects. Of these late-stage projects, 49.8 MW are under construction.
Operational Highlights
Gross margin of 2.8% in the first quarter contracted a whopping 1590 basis points (bps) year over year. It also deteriorated immensely when compared with a gross margin of 51.4% in the prior quarter. This downturn can be attributed to revenue decline coupled with unfavorable margin from project sales in the United States.
Operating expenses totaled $2.5 million, flat when compared with the prior-year quarter but down 48% from the previous quarter.
Operating loss in the quarter came in at $2.1 million against the year-ago quarter’s operating income of $5.9 million. The company had incurred an operating loss of $1.9 million in the fourth quarter of 2018.
Financial Condition
As of Mar 31, 2019, ReneSola had cash and cash equivalents of $7 million compared with $6.8 million as of Dec 31, 2018.
Long-term borrowings were $11 million as of Mar 31, 2019, compared with $41.4 million at the end of 2018.
Guidance
ReneSola expects second-quarter 2019 revenues in the band of $10-$12 million, with an overall gross margin of 55-65%. For second-quarter revenues, the Zacks Consensus Estimate is pegged at $36.5 million, much above the company’s anticipated view.
For 2019, the company continues to expect revenues in the $150-$170 million range, with an overall gross margin of 20-25%. The Zacks Consensus Estimate for ReneSola’s 2019 revenues, pegged at $115.6 million, lies much below the company projected guidance.
Business Update
During the first quarter, ReneSola entered into a bridge financing agreement with Eiffel Energy Transition Fund for its solar projects in Hungary and Poland. Under the terms of the agreement, Eiffel Energy Transition Fund will finance ReneSola's 41.3 MW projects in Hungary and 55MW projects in Poland.
Meanwhile, the company made meaningful progress in Vietnam, where it obtained the land rights for a 200 MW ground-mounted project.
Zacks Rank
ReneSola currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Solar Releases
SunPower Corp. SPWR incurred adjusted loss of 41 cents per share in first-quarter 2019, wider than the Zacks Consensus Estimate of a loss of 40 cents. The company had incurred a loss of 20 cents per share a year ago.
First Solar Inc. FSLR incurred a loss of 64 cents per share in first-quarter 2019, wider than the Zacks Consensus Estimate of a loss of 13 cents.
Sunrun Inc. RUN incurred a loss of 12 cents per share in first-quarter 2019 against the Zacks Consensus Estimate of earnings of 32 cents.
Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportRenesola Ltd. (SOL) : Free Stock Analysis ReportSunPower Corporation (SPWR) : Free Stock Analysis ReportFirst Solar, Inc. (FSLR) : Free Stock Analysis ReportSunrun Inc. (RUN) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Blackberry (BB) Stock Is Under the Gun; RBC Capital Dives In
Blackberry (BB) shares fell 11% in the past two days as investors were less-than-satisfied with the company's fiscal first-quarter earnings release.
Specifically, the former smartphone maker reported revenue of $267 million, beating last year by 23% and Wall Street consensus by $2 million. Further, Blackberry saw EPS rise to $0.01, which, while low, was still higher than consensus estimates of $0.00. But investors were not too happy about results from Cylance, the security software developer Blackberry acquired in February. Though revenue rose 31% since last year, many expected stronger results.
As a result of the earnings, RBC Capital analystPaul Treiberhas dropped his price target from $10 to $9, while maintaining a Sector Perform rating. It's very much an 'I told you so' moment for Treiber afterwarning investorsthat shares are fairly valued. (To watch Treiber's track record,click here)
The main sticking point in Treiber’s mind is Blackberry’s Enterprise Software and Services (ESS) segment. Though the analyst acknowledges stronger growth all around, he says below-expectations revenue from ESS “overshadowed” the positives. ESS generated $83 million, or flat since last year, with Treiber’s estimating $95 million. As a result, the analyst says, “BlackBerry remains a ‘show me’ story, as the shortfall at ESS reduces visibility to BlackBerry’s long-term growth.”
Though the market was not too kind to Blackberry, upper management is still confident about the company. Management reaffirmed its FY20 guidance for 12-16% IoT growth (ESS + BTS), given new product launches, BTS design wins, and sales leadership changes at ESS. Management also reaffirmed FY20 guidance and expressed confidence in future growth opportunities. Further, the company sees Cylance as ahead of schedule, and expects to launch more than 30 products this year, which is expected to bolster sales.
Though management is confident in Blackberry, Treiber believes the stock is in a unique position. The analyst says, “the investor debate on BlackBerry stems from the company’s future opportunity compared to its current momentum.” This is not dissimilar to the likes of Uber and Tesla where many bearish investors are looking at the companies’ poor performance right now as an indicator, while bullish investors look at the transformational potential someday in the future — but unlike the aforementioned companies, Blackberry is already 35 years old and was once already looked at as a revolutionary company.
All in all, the Wall Street community does not have much to say on Blackberry.TipRanks analysisshows only four ratings, with one analyst recommending Buy and three suggesting Hold. The average price target among these analysts stands at $10.22, which represents a 35% rise from current levels.
To read more on the nitty gritty of what’s going on in the tech stocks space,click here.
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'Just speaking truth': Kamala Harris responds to low blow Joe Biden criticism
Kamala Harris has responded to criticism that she served up a low blow towards Joe Biden during the second night of Democratic debates, when the California senator sparred with the former vice president on the issue of race. The 2020 hopeful told CBS News she was just speaking truth when she confronted Mr Biden the frontrunner of the Democratic primaries so far over his record, including his former support for segregationist Democrats and opposition to busing as an approach to desegregate the nations public school system. It was about just speaking truth and as I've said many times, I have a great deal of respect for Joe Biden, she said on Friday morning after the debates, adding, but he and I disagree on that. My purpose was to really just make sure that in this conversation we are appreciating the impact on real people of policies that have been pushed in the history of our country, she added. The pairs exchanges ultimately became the highlight of the night, as Ms Harris proved effective in showcasing her strengths and knocking down the highest-polling Democrat running for the shot at taking on Donald Trump in the 2020 general elections. On Thursday night, Ms Harris described Mr Bidens previous statements celebrating his work with segregationist as personally hurtful for her, before recalling her own experience with busing as a child in California. There was a little girl in California who was part of the second class to integrate her public schools and she was bused to school every day," she said. "That little girl was me." The jab was clearly teed up, as her campaign immediately released a childhood photo of the senator on her social platforms with the caption reading , That little girl was me. By Friday morning, as Ms Harris was addressing the squabble on TV, her childhood photo was being advertised on campaign merchandise across social media. Mr Biden also addressed the confrontation following Thursday nights debates, describing Ms Harris comments to reporters as a mischaracterisation of my position across the board. Ms Harris continued to stand by her comments on Friday, saying I would not be a member of the United States Senate today, I would not be a top contender to be president of the United States if segregationists had their way. |
UPDATE 2-Hedge fund chief Daniel Loeb opposes United Technologies, Raytheon merger
(Adds comments from United Technologies)
By Svea Herbst-Bayliss
BOSTON, June 28 (Reuters) - Billionaire investor Daniel Loeb said on Friday that his hedge fund Third Point LLC will vote against the planned merger of United Technologies Corp and Raytheon Co, saying there is no "strategic rationale for this transaction."
"We have concluded that the proposed combination of United Technologies and Raytheon is ill-conceived and unlikely to create value for UTC shareholders," Loeb wrote in a letter to the board of directors of United Technologies
On June 10, the industrial conglomerate and military contractor announced a $120 billion merger, a deal that would intensify the pace of consolidation in the aerospace and defense industry and is expected to be completed in the first half of next year.
In his letter, Loeb criticized United Technologies management for turning its back on previous plans to break the company into three businesses - aerospace, Otis elevators and Carrier air conditioners - and accused United Technologies Chief Executive Greg Hayes of engineering the merger to secure his employment.
United Technologies said it does not agree with Loeb's conclusions, adding that its board remains confident that the merger will create a premier systems provider. Other shareholders "agree with us as to the desirability of the merger," the company said.
Loeb, a forceful supporter of United Technologies' plan to break into three businesses, called the planned merger a "baffling change in UTC’s strategy."
Loeb is now the second powerful Wall Street investor to oppose the deal after rival hedge fund manager William Ackman wrote to United Technologies to complain even before the deal was publicly announced.
Neither Loeb nor Ackman, whose firms each own less than 1 percent of the company, could single-handedly derail the deal and each has said there are other investors who share their concerns.
Both men accused Hayes of trying to extend his reach, with Loeb writing on Friday that a "sweetheart employment agreement" for Hayes would "entrench him for another half a decade ultimately as both CEO and Chairman of the Board!"
Bloomberg first reported that Loeb sent the letter to United Technologies.
United Technologies' deal with Raytheon faces regulatory hurdles. The U.S. Defense Department and big customers like Boeing Co, Lockheed Martin Corp and Northrop Grumman Corp will have a lot of clout in the antitrust review, and may worry about over-reliance on one company for a big suite of products.
(Reporting by Svea Herbst-Bayliss, with additional reporting by Rachit Vats; editing by Susan Thomas and Steve Orlofsky) |
Apple moves Mac Pro production to China from U.S.: Wall Street Journal
(Reuters) - Apple Inc <AAPL.O> is shifting manufacturing of its new Mac Pro desktop computer to China from the United States, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The move comes at a time when the Trump administration has threatened to impose new levies to cover nearly all imports from China and pressured Apple and other manufacturers to make their products in the United States if they want to avoid tariffs.
Last week, Apple asked its major suppliers to assess the cost implications of moving 15% to 30% of their production capacity from China to Southeast Asia, according to a Nikkei report.
"If true, suggests to me that Apple has tremendous confidence that the U.S. and China will be able to solve their trade dispute and do so in the near-future," D.A. Davidson analyst Tom Forte said in an email.
China is a key market for Apple as well as a major production center for its devices. The company got nearly 18% of its total revenue from Greater China in the quarter ended March.
Apple's Mac Pro, a $6,000 machine used by creative professionals, has been facing waning demand, the Journal said https://www.wsj.com/articles/apple-moves-mac-pro-production-to-china-11561728769?mod=searchresults&page=1&pos=1.
The company does not break out sales numbers for its Mac Pro machines. The desktop is part of the company's Mac line of products, which accounted for less than 10% of Apple's total sales in 2018. In 2018, Apple sold about 18 million Mac products, compared with about 218 million iPhones.
"Like all of our products, the new Mac Pro is designed and engineered in California and includes components from several countries including the United States," an Apple spokesman said. "Final assembly is only one part of the manufacturing process."
Apple's decision coincides with the end of tax subsidies that it got for making the desktop in a plant in Texas run by contract manufacturer Flex Ltd, according to the Journal.
"(This) serves as a reminder that, relative to the U.S., manufacturing in China remains a lower-cost alternative and benefits from an existing infrastructure, versus having to, potentially, rebuild one in the U.S", Forte said.
The tech giant has tapped contractor Quanta Computer Inc <2382.TW> to manufacture the computer and is ramping up production at a factory near Shanghai, the report said https://www.wsj.com/articles/apple-moves-mac-pro-production-to-china-11561728769?mod=searchresults&page=1&pos=1.
Quanta did not respond to a request for comment.
Apple's shares were down marginally at $198.69.
(Reporting by Akanksha Rana in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D'Silva) |
New Strong Sell Stocks for June 28th
Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today:
Bain Capital Specialty Finance, Inc.BCSFis a business development company. The Zacks Consensus Estimate for its current year earnings has been revised 2.9% downward over the last 30 days.
CNOOC LimitedCEOis an investment holding company. The Zacks Consensus Estimate for its current year earnings has been revised 0.5% downward over the last 30 days.
Energizer Holdings, Inc.ENRis a manufacturer of lighting products and household batteries etc. The Zacks Consensus Estimate for its current year earnings has been revised 0.3% downward over the last 30 days.
Fox CorporationFOXis a news, sports and entertainment company. The Zacks Consensus Estimate for its current year earnings has been revised 1.5% downward over the last 30 days.
EnerSysENSis a manufacturer of industrial batteries. The Zacks Consensus Estimate for its current year earnings has been revised 5.1% downward over the last 30 days.
View the entire Zacks Rank #5 List.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportEnergizer Holdings, Inc. (ENR) : Free Stock Analysis ReportCNOOC Limited (CEO) : Free Stock Analysis ReportFox Corporation (FOX) : Free Stock Analysis ReportEnersys (ENS) : Free Stock Analysis ReportBain Capital Specialty Finance, Inc. (BCSF) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Novavax (NVAX) Seeks Accelerated Approval Pathway for NanoFlu
Novavax, Inc.NVAX announced plans of using the accelerated approval pathway for its influenza vaccine candidate, NanoFlu. The FDA has also acknowledged that the company can use the pathway for the vaccine candidate.
In the fall of 2019, the company expects to initiate a phase III study for immunogenicity data to support a biologics license application (“BLA”) for NanoFLu. Top-line data from the study is expected in the first quarter of 2020.
In a separate press release, Novavax also announced the sale of its manufacturing equipment and related assets to Catalent Biologics’ Paragon Gene Therapy unit for $18 million. The transaction is expected to close in July 2019. Novavax can use the additional fund from the sale of assets to support clinical development of its vaccine candidates — NanoFlu and ResVax.
Following the announcements, shares of the company surged more than 11% on Jun 27. However, the stock has plunged 83.3% so far this year against the industry’s 2.7% increase.
In January 2019, the company released top-line phase II results for NanoFlu, its nanoparticle seasonal influenza vaccine candidate. The study showed that NanoFlu improved immune responses in adults aged 65 years or older compared with Sanofi’s SNY vaccine division’s Fluzone High-Dose, the leading influenza vaccine in older adults, in a phase II study.
In the third quarter of 2019, Novavax is planning an End-of-Phase II meeting with the FDA for discussing the proposed phase III clinical study design and other topics that will support the future BLA.
Meanwhile, the company’s lead candidate ResVax — a respiratory syncytial virus (“RSV”) vaccine — is being developed to protect infants by immunizing mothers against the disease. The candidate has failed to meet the primary endpoint of a phase III study of prevention from medically significant RSV and lower respiratory tract infection. However, the study did show efficacy against a secondary objective of preventing hospitalization, and is the first RSV vaccine to show phase III efficacy. Earlier this month, the FDA has recommended an additional study to confirm the efficacy against medically significant RSV disease in infants born to mothers vaccinated with ResVax. Aforementioned news had significant, unfavorable impact on the company’s share price.
Novavax, Inc. Price
Novavax, Inc. price | Novavax, Inc. Quote
Zacks Rank and Key Picks
Novavax has a Zacks Rank #2 (Buy). A couple of other top-ranked stocks in the biotech sector are Anika Therapeutics Inc. ANIK and Applied Genetics Technologies Corp. AGTC, both sporting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
Anika’s earnings per share estimates have moved up from $1.21 to $1.31 for 2019 and from $1.21 to $1.33 for 2020 over the past 60 days. The stock has gained 17.3% so far this year.
Applied Genetics’ earnings per share estimates have changed from a loss of $1.25 to a gain of 1 cent for 2019 and loss per share estimates narrowed from $2.39 to $2.15 for 2020 over the past 60 days. The stock has rallied 50.6% so far this year.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSanofi (SNY) : Free Stock Analysis ReportApplied Genetic Technologies Corporation (AGTC) : Free Stock Analysis ReportNovavax, Inc. (NVAX) : Free Stock Analysis ReportAnika Therapeutics Inc. (ANIK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Facebook Watch Is One to Watch
Facebook (FB) Watch is booming, and with its success it is clear that Facebook is looking to expand into different adjacent sectors, hoping to evolve into the well-rounded service that WeChat has become in China.
Although Facebook’s Libra cryptocurrency announcement attracted a lot of attention this past week, Deutsche Bank analystLloyd Walmsleybelieves that Facebook Watch should help drive advertising growth for the company in the medium to long term.
In large part due to Facebook Watch’s impressive success, Walmsley has raised his price target for FB from $220 to $230, while rating the stock a Buy. (To watch Walmsley's price target,click here)
Launched in 2017, Facebook Watch is growing rapidly year over year, with over 720M people who spend at least 1 minute in Watch every month. Daily, over 140M people spend at least 1 minute in Facebook Watch, with the average viewing time at 26 minutes. The platform is a gold mine for Facebook and should challenge YouTube for the profitable video advertising in future years. Walmsley believes that Facebook Watch is “highly monetizable,” and “could generate $5B or more… as early as 2021.” With online video exploding, advertisers are hungry for safe videos to advertise, an issue which has challenged YouTube and its parent company Alphabet in the past. If Facebook can make sure the content on Facebook watch is clean and free from controversy, it should rake in the revenue as Walmsley predicts.
In addition to Facebook Watch, Walmsley is keeping an eye out for Facebook’s Q2 call. The analyst is looking forward to hearing about the overall advertising trends, as well as Instagram Checkout, which is new to the Instagram platform. Checkout should help boost ad spending on Instagram, which has not been squeezed as much as the Facebook platform for ad revenue. Checkout is still in beta form, so if it is successful a wider rollout should be an interesting catalyst for the company. Finally, Walmsley is interested in hearing if political ad spending is rising as we move closer to the 2020 US elections, especially with the backdrop of the 2016 election interference hanging over the company in recent years. Walmsley says that “2019 and 2020 US political advertising spend is supposed to grow >100% vs. the 2015 and 2016 election year to a total of ~$3.7B.” The analyst expects Facebook to continue to be a major player in political advertising going forward, as its ability to target certain segments of the population is second to none.
All in all, this ‘Strong Buy’ stock has scored unanimous bullish attention on the Street, with 35 analysts polled in the last 3 months rating FB a 'buy', while only 3 rate the stock a 'hold.' The 12-month average price target stands at $220.48, marking 17% in return potential for the stock.
Read more on FB:
• Crypto Move Boosts Facebook (FB) Stock, But How Will It Play In Long Term?
• Facebook’s (FB) Libra Could Be the Next Big Thing
• Should Investors Buy Facebook Stock After Its Cryptocurrency Launch?
• All Eyes on Facebook’s Cryptocurrency Launch, Top Analyst Maintains ‘Buy’ on the Stock
• Is 33% Upside Good Enough to Risk Buying Fitbit (FIT) Stock? Deutsche Bank Doesn't Think So
• Deutsche Bank Remains Sidelined on AMD Stock; Here's Why
• Antitrust Investigation Is Not a Major Threat to Alphabet (GOOGL) Stock, Says Top Analyst
• Tesla's (TSLA) Gigafactory Is Impressive, But Its Stock Isn't, Says RBC Capital |
Prince William Congratulates England on World Cup Victory in Rare Tweet — See His Personal Touch!
Prince William is following in Meghan Markle and Prince Harry ‘s social media footsteps! The royal dad, who celebrated his 37th birthday last week, shared a personal tweet on the Kensington Palace Twitter account on Thursday. The special reason for getting into the social media game was England’s 3-0 World Cup victory over Norway, securing the Lionesses’ spot in the semi-finals of the international soccer tournament. “What a performance @Lionesses, a superb display!” William proudly wrote. “The whole country is behind you going into Tuesday’s semi-final, bring it on!” Excited royal fans knew that Prince William was behind the message from a subtle “W” at the end. BPI/REX/Shutterstock The Duke of Cambridge has always been a soccer (or football, as the Brits call it) fan — after all, he is the president of the English Football Association. Last year, he posted another rare personal message on Twitter to congratulate the men’s team at the World Cup. What a performance @Lionesses , a superb display! The whole country is behind you going into Tuesday’s semi-final, bring it on! W — Kensington Palace (@KensingtonRoyal) June 27, 2019 England celebrates victory over Norway | Naomi Baker - FIFA/FIFA via Getty RELATED: Want to Tweet for the Queen? Royal Family Hiring a Social Media Manager — Find Out the Salary! William showed off his enthusiasm for the sport just last month during a surprise appearance at Wembley stadium to cheer on soccer team Aston Villa . When Aston Villa took the lead toward the end of the first half, he threw his arm around former player John Carew with his right fist aloft. And when they took the whole match to move up to the Premiere League, he really cut loose with hugs and cheers all around! Prince William cheers on Aston Villa | BPI/REX/Shutterstock The prince explained why he follows Aston Villa during an interview before a Cup Final four years ago. “A long time ago at school, I got into football big-time. I was looking around for clubs. All my friends at school were either Man United or Chelsea fans and I didn’t want to follow the run-of-the-mill teams,” he said, according to the Birmingham Mail . “I wanted to have a team that was more mid-table that could give me more emotional rollercoaster moments. I have got friends of mine who support Aston Villa and one of the first FA Cup games I went to was Bolton vs. Aston Villa back in 2000. It was the atmosphere, the camaraderie and I really felt that there was something I could connect with.” Story continues View this post on Instagram TRH The Duke and Duchess of Sussex are excited to announce that they have been asked to carry out a tour to Southern Africa this autumn. The Foreign and Commonwealth Office have requested a visit to South Africa 🇿🇦 as well as The Duke carrying out visits to Malawi 🇲🇼 and Angola 🇦🇴. His Royal Highness will also do a short working visit to Botswana 🇧🇼 en route to the other countries. The Duke and Duchess are really looking forward to meeting so many of you on the ground and continuing to raise awareness of the high impact work local communities are doing across the Commonwealth and beyond. This will be their first official tour as a family! A post shared by The Duke and Duchess of Sussex (@sussexroyal) on Jun 27, 2019 at 8:14am PDT Can’t get enough of PEOPLE’s Royals coverage? Sign up for our newsletter to get the latest updates on Kate Middleton, Meghan Markle and more! There have been some hints that Meghan, who welcomed son Archie on May 6, is the one running the recently launched @SussexRoyal Instagram account that follows the Duke and Duchess of Sussex. Meghan made the decision to delete all of her personal social media accounts in January 2018, ahead of her May wedding. The previous April, she shut down The Tig , her lifestyle blog. However, the American spellings of words to the frequent use of emojis all point to Meghan being behind the new page. |
Serial rapist attacked two women after being released from prison
(POLICE HANDOUT) A serial rapist who served 12 years of a life sentence for horrific sex attacks committed a further two offences after he was released from prison. Glen Samson, 40, was jailed for multiple rapes, false imprisonment and GBH in 2004 and then released on license in 2016. But after his release, Samson went a campaign of physical and mental abuse against two women by raping imprisoning and threatening to kill them. A jury at Bradford Crown Court on Monday found Samson guilty of 24 counts of rape, two counts of control and coercive behaviour, threats to kill and three counts of false imprisonment Samson was sentenced to life for a second time, with a minimum requirement of 32 years (POLICE HANDOUT) Samson was handed a life sentence with a minimum of 32 years in prison. Throughout his trial, Samson, of Liverpool, refused to take the stand and also refused to give evidence. One of the victims came forward to the police in 2018. Read More on Yahoo News UK: Dog bites off part of toddler's nose during visit to rescue centre Horror at the seaside as two men die after being pulled from the water in Devon Teenager saves baby falling from 2nd-floor window Detective Inspector Seth Robinson, who led the investigation, said: Samsons conviction, for what can only be described as horrendous crimes, has removed a dangerous and obsessed sexual predatory from our streets. "It was evident that he had planned to commit these offences against the victims and if they had not had the courage to come forward, he would continue to abuse them. Samson was found guilty of four counts of rape, two counts of control and coercive behaviour, threats to kill and three counts of false imprisonment at Bristol Crown Court (PA) He is a coward and showed no remorse for what he had done to his victims and the campaign of abuse he inflicted on them. The two victims have showed immense bravery throughout the whole criminal process and I hope that the sentencing of this depraved man allows them some closure to their horrific ordeal. "They have been supported by specially trained officer since they came forward to the police to report the offences. Watch the latest videos from Yahoo UK |
10 Free Ways to Get in Better Shape
Achieve your fitness goals without draining your wallet. Exercise is critical to looking and feeling good, but the high cost of getting in shape is often a barrier for those on a tight budget . In fact, a 2018 Dare to Be Free survey from Freeletics, a fitness app, found that 28 percent of participants said they would exercise more if they could find cheaper alternatives to the gym . The good news: You can exercise for free by spending time researching options. "You don't need to spend thousands of dollars on expensive gym equipment or trainers," says Jenny Schatzle, certified personal trainer and founder of Bond Fitness. "There are ways to get in shape all around us." With that in mind, here's how to find free workout classes without busting your budget. Use your own body weight. High-end exercise equipment, such as treadmills and stationary bikes, aren't necessary to reach your fitness goals. Your body weight provides enough resistance to help tone muscles and trim fat. Lunges and squats are perfect moves to target legs, while pushups build muscle in your chest and back. Tricep dips tone arms and planks are great for targeting abs. The best part: You can do these moves anywhere, whether at home, at your hotel while traveling or on your lunch break at work. Turn household items into exercise gear. Setting up an at-home gym makes it easier to squeeze in a workout whenever you have time rather than having to drive to a health club. However, cardio and other fitness equipment will cost you hundreds to thousands of dollars depending on the gear you choose. Instead, look around your home for items that can be used as exercise tools to get started. For instance, canned goods or bottled water can double as dumbbells. Meanwhile, a chair is the perfect prop for tricep dips and incline pushups or step-ups. Schatzle regularly shares videos of workout moves using canned soup and says it's an effective tool to exercise your arms. Go for a walk. One of the most effective, accessible and inexpensive ways to exercise is walking. Not only is it adaptive to any fitness level, but it's also easy to fit into your daily routine, says Jessica Smith, certified personal trainer, wellness coach and creator of the Walk On workout series. You can walk before work, on your lunch break or while running errands; if the weather isn't holding up, you can take a few laps around an indoor mall to get those steps in. "Walking helps build aerobic fitness, reduces stress and belly fat and can aid in weight loss," Smith says. Plus, walking can be an excellent steppingstone to developing a regular exercise habit, she adds. Story continues Join a community meetup. Not everyone has the self-discipline to exercise on his or her own. If you need the motivation of an instructor to get you moving, connecting with like-minded fitness enthusiasts in your area who are planning an outdoor workout is easy through sites such as FitnessMeetups.com or Meetup.com. There's no cost and you can find a group exercise to join. You can also tap into your social network to find workout buddies. Eddie Johnson, chief executive officer of Anabolic Bodies, a site that offers fitness advice, suggests joining a Facebook group, where you can find hiking groups, or people who enjoy swimming. "The best part is you can join several groups and line up as many free, fun workouts as you want," he says. Check local listings and ad sites. Your local parks and community centers may provide free exercise classes. All you need to do is run a Google search or review your newspaper's online calendar for options nearby. Even your local library may host a variety of fitness classes, from yoga to boot camp. What's more, you may even find gently used, free exercise equipment through local ad listings. "A lot of times, people will invest in a treadmill, weights or another expensive item, only to find that they never use it," Johnson says. "It can be hard to sell used exercise equipment if it is large, so many people will give it away for free as long as you can come pick it up." Take advantage of trial memberships. Most health clubs and fitness studios offer free trial classes or several day passes at no cost. Signing up for various free trials around town is a great way to test different workout routines and learn a few new moves to do on your own. Even online video programs offer free trials. Just keep in mind that if you're required to supply your credit card information, you may be automatically enrolled once that trial is up. It's important to remember to cancel a trial membership before the promotional offer expires if you don't want to continue paying. Check fitness stores for classes. Your favorite exercise brand isn't just a great place to find workout gear and clothing. Many offer complimentary fitness classes, too. Stores specializing in running shoes and apparel often organize free running groups. Meanwhile, you can find complimentary in-store fitness classes every Sunday at select Lululemon locations and free boot camp, group runs, yoga and more at Athleta. Check your local store's calendar for a schedule of offerings or ask a store clerk if and when they may be offering a free class, with no purchase required. Stream workout videos online. Online exercise videos are often designed to mimic the style of workouts you would get in a group fitness class or with a personal trainer without the cost or commitment of a membership. Many video streaming programs may require a fee, but you can find plenty of free options through sites like FitnessBlender.com. "YouTube has free workouts for any length of time and any kind of workout you're looking for, from Zumba to body weights to hip-hop to Pilates to high-intensity circuit training," Schatzle says. For example, you can find endless Pilates videos through the Blogilates YouTube channel available at no cost. You can also find videos on Instagram. Tap into your mobile device. There are plenty of exercise apps that can help you get in better shape at home with a little extra guidance. Plus, many are free. For example, the Daily Workouts Fitness Trainer app allows you to choose an area of your physique you'd like to target and offers a simple five- to 30-minute workout. Freeletics is another fitness app that has a free section, containing hundreds of exercises and workouts perfect for any fitness level, duration of exercise and area of the body the user wishes to train. If you prefer to be surrounded by nature, check the AllTrails app to find nearby nature walks and hiking trails for free. Negotiate. If you're planning to join a gym or fitness studio , negotiate for freebies. Either ask for the initiation fee to be waived, a series of free personal training services or a free month. Sometimes it's easier for the salesperson to add on items to your membership rather than give you a discount on your monthly price, so think about how you can snag freebies from the facility. Here are 10 free ways to get in better shape: -- Use your own body weight. -- Turn household items into exercise gear. -- Go for a walk. -- Join a community meetup. -- Check local listings and ad sites. -- Take advantage of trial memberships. -- Check fitness stores for classes. -- Stream workout videos online. -- Tap into the mobile device. -- Negotiate. More From US News & World Report 9 Secrets to Save Money on a Shoestring Budget 10 Expenses Destroying Your Budget 50 Ways to Improve Your Finances in 2019 View comments |
Oleg Cassini Estate Auction Rings Up $1.3 Million
Click here to read the full article. OLEG’S SELLOUT CROWD: Even 13 years after his death, Oleg Cassini’s name managed to create a sellout estate sale at Doyle on Thursday. The all-day event ran for nine-and-a-half hours and the lots sold for more than $1.3 million, according to Louis Webre, senior vice president of marketing and media for the auction house. That final tally was well above preauction estimates of $578,185 to $884,260. Some of the international bidders turned up at the Doyle East 87th Street sale room, with others phoning in their bids or placing them online. Many of the designer’s fans associate him with First Lady Jacqueline Kennedy Onassis, whose White House style Cassini was instrumental in cultivating. A nine-page handwritten letter by Kennedy prior to her husband’s administration clearly defined what she expected from Cassini as her designer and confidante. That piece of history sold for $16,250 — above the $10,000 to $15,000 estimate. Related stories Public Auction for Gramercy Park Town House Where Oleg Cassini Once Lived Fails to Attract Bidders Nineteen-Year-Old Elise By Olsen Takes On Fashion's Heavyhitters Vince Holding Corp. Is Making Changes Thursday’s event was far from a run-of-the-mill estate sale. The 750 lots were gleaned from what was once Cassini’s Oyster Bay Cove 43-acre estate and the neo-Gothic Gramercy Park town house that he lived in at one time. Cassini’s widow Marianne Nestor Cassini has been entangled in years-long legal battles with the designer’s descendants. Her legal team had tried to stop the auction in recent weeks. The items from the East 19th Street town house were sold by the New York County’s Sheriff’s Office after a property seizure. Art , furniture, automobiles and other property from the Oyster Bay Cove manse were sold on behalf of Oleg Cassini Inc. and Oleg Cassini Parfums Ltd. per attorney Rosalia Baimonte, a court-appointed receiver. More than 1,000 people passed through Doyle’s three-day preview last weekend at the Long Island, N.Y., estate. Story continues In the end, Kennedy-philes or Cassini devotees plunked down $7,500 for 130 sketches (estimate $800 to $1,200) drawn in the Nineties for Cassini’s book “A Thousand Days of Magic.” Eighteen Kennedy-era sketches sold for $3,437 and a detailed ledger from 1960 to early 1964 with fabric swatches and descriptions of Kennedy-approved ensembles sold for $2,812 — considerably more than the $500 to $800 estimate. But the sale’s real rainmaker was a composite suit of plates armor in the Maximilian style that sold for a whopping $262,500 — setting a new American auction record for European armor. The suit, which was one of six sold Thursday, was from the collection of Lord Astor in Hever Castle in the U.K. Another standout item was a a George I gilt-gesso side table attributed to James Moore that fetched $75,000 — more than double the opening estimate of $30,000. A bright red 2004 Mercedes SL 500 convertible with the Cassini crest was won with a $34,375 bid. That amount was also what one client paid for a composite suit of three-quarter etched and gold embedded armor. Another high-ticket item was a Constantin Makovsky portrait of Countess Marguerite Cassini, the designer’s mother, that sold for $31,250. It had been estimated between $1,000 and $3,000. The designer’s nephew Alexander bought that painting of his grandmother, according to Marianne Cassini. She took issue with the auction before and after the fact. She said Friday, “Everything was marked down exceptionally cheap. They didn’t have the right provenance for many of the items. For example, there were two paintings from Jenny Legrand (“The Go-Between”) that I bought from a gallery that I served on the board of directors for. They were $70,000 in 1971. They were listed for $4,000 to $6,000.” Cassini claimed that many of the items belonged to her, to her sister Peggy Nestor or the Cassini companies. “It could be from a house that we shared – for sure – but it was not his property. When I look at this catalogue and the prices that things went for, it’s just really truly shocking.” Cassini also said she was considering legal action against Doyle. “Also, selling somebody’s clothing is so cheap and crappy. It’s a third-rate gallery.” Cassini said. “And all these letters – Oleg never would have sold any letters. He kept them because he liked to look at them from time to time.” In the aforementioned nine-page letter to Cassini in December 1960, Kennedy was specific about the magnitude of the commitment she was looking for from him. She asked, “ARE YOU SURE YOU ARE UP TO IT OLEG?” Suggesting he put his brilliant mind to work, imagining what she would wear if her husband was the president of France — très Princess de Rethy — mais jeune…” She also indicated how familiar she was with the hazards of “PUBLICITY.” “One reason I am so happy to be working with you is that I have some control over my fashion press, which has gotten so vulgarly out-of-hand. You realize that I know that I am so much more of fashion interest than other First Ladies,” before adding that she refused to have her husband’s administration plagued by fashion stories of a sensational nature — “to be the Marie Antoinette or Josephine of the 1960s.” As for “COPIES,” she told the designer to make sure that no one has exactly the same dress — the same color or material. “I want all of mine to be original and no fat little women hopping around in the same dress,” she said. Doyle senior vice president Peter Costanzo said the sale exceeded expectations in terms of the number of participants. “We had hundreds of buyers — new buyers, old buyers and people who had never bid at an auction before. We had local people, international people. It was really a success in terms of spreading the word. The prices were phenomenal — we exceeded estimates by several hundred thousand dollars. We sold every item, which is known as ‘a white glove’ auction in the industry.” From his point of view, it all came down to quality. “The draw, in the end, was quality. Cassini’s archives, his antiques, the clothes that he owned, and designed, the furniture, the suits of armor – everything that he chose was of a very high level. That transmitted to the auction crowd. Even the things that he designed — the housewares, the cut-glass desk ornaments and things like that were of high quality. And they all sold quite well.” Sign up for WWD's Newsletter . 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Buy These 5 Low Leverage Stocks to Avoid Investment Risk
Companies often need exogenous funds to ensure smooth operations and expansion of business. These funds can be arranged through debt and equity. Here comes the concept of leverage, which is basically the usage of debt for such purposes.
Now a comparative analysis of the theory of cost of capital reveals that most companies prefer debt financing over equity since debt is cheaper, especially in periods of low interest rates.
This is because when a company resorts to debt financing, it takes on fixed expenses in the form of interest payments for a specific time period. However, in case of equity financing, a shareholder not only becomes a partial owner of the company but develops a direct claim on the company’s future profits as well. So, debt financing remains the preferred option for corporates.
However, debt financing has its share of drawbacks. The problem arises when leverage, referred to as the amount of debt a company bears, becomes exorbitant. A high degree of financial leverage means high interest payments, which affect the company's bottom line.
Therefore, to avoid any kind of risky investment, choosing a less debt-ridden stock should be an appropriate option for a risk-averse investor. And here comes the importance of leverage ratios, which can measure the exact amount of debt risk a company bears. Debt-to-equity ratio is one such measure, perhaps the most popular one, to evaluate a company’s creditworthiness for potential equity investments.
Analyzing Debt/Equity
Debt-to-Equity Ratio = Total Liabilities/Shareholders’ Equity
This metric is a liquidity ratio that indicates the amount of financial risk a company bears. A company with a lower debt-to-equity ratio shows improved solvency for a company.
Investors are on the lookout for stocks that exhibited solid earnings growth in the last couple of quarters. However, blindly investing in stocks displaying solid earnings growth without considering their debt level is not a wise move.
The Winning Strategy
Considering the aforementioned factors, it is prudent to choose stocks with a low debt-to-equity ratio to ensure steady returns.
However, an investment strategy based solely on the debt-to-equity ratio might not fetch the desired outcome. To choose stocks that have the potential to give you steady returns, we have expanded our screening criteria to include some other factors.
Here are the other parameters:
Debt/Equity less than X-Industry Median: Stocks that are less leveraged than their industry peers.
Current Price greater than or equal to 10: The stocks must be trading at a minimum of $10 or above.
Average 20-day Volume greater than or equal to 50000: A substantial trading volume ensures that the stock is easily tradable.
Percentage Change in EPS F(0)/F(-1) greater than X-Industry Median: Earnings growth adds to optimism, leading to a stock’s price appreciation.
VGM Score of A or B:Our research shows that stocks with a VGM Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer the best upside potential.
Estimated One-Year EPS Growth F(1)/F(0) greater than 5:This shows earnings growth expectation.
Zacks Rank #1 or 2: Irrespective of market conditions, stocks with a Zacks Rank #1 have a proven history of success.
Excluding stocks that have a negative or a zero debt-to-equity ratio, here are five of the 30 stocks that made it through the screen.
Atmos Energy CorporationATO: The company, along with its subsidiaries, is engaged in regulated natural gas distribution and storage business. The company delivered average positive earnings surprise of 4.26% in the last four quarters and currently carries a Zacks Rank #2.
James River Group Holdings, Ltd.JRVR: It is an insurance company, which owns and operates specialty insurance and reinsurance companies. The company currently holds a Zacks Rank of 2 and delivered average positive earnings surprise 4.72% for the last four quarters.
AZZ Inc.AZZ: This is a global provider of galvanizing, welding solutions, specialty electrical equipment and highly engineered services. It came up with average positive earnings surprise of 6.65% in the preceding four quarters and carries a Zacks Rank #2. You can seethe complete list of today’s Zacks #1 Rank stocks here.
WellCare Health Plans, Inc.WCG: It offers government-sponsored managed care services to families, children, seniors and individuals with complex medical needs primarily through Medicaid, Medicare Advantage and Medicare Prescription Drug Plans. Currently, the company carries a Zacks Rank #2. It came up with average positive earnings surprise of 13.52% in the preceding four quarters.
Oasis Midstream Partners LPOMP: This company owns, develops and operates a diversified portfolio of midstream assets in North America. It sports a Zacks Rank #1. It delivered average positive earnings surprise of 0.27% in the last four quarters.
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Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAtmos Energy Corporation (ATO) : Free Stock Analysis ReportAZZ Inc. (AZZ) : Free Stock Analysis ReportJames River Group Holdings, Ltd. (JRVR) : Free Stock Analysis ReportWellCare Health Plans, Inc. (WCG) : Free Stock Analysis ReportOasis Midstream Partners LP (OMP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Armada Hoffler Acquires Thames Street Wharf in Baltimore
Armada Hoffler Properties, Inc.AHH recently announced the acquisition of a certified LEED Gold Class A office building — Thames Street Wharf — in the Harbor Point development of Baltimore, MD. The company shelled out $101 million for the purchase of this trophy office building from KBS — a private equity real estate company.This latest buyout seems to be a strategic fit for Armada Hoffler as the property in Baltimore has sufficient capability to boost the company’s top-line growth. Presently 100% occupied, the 263,426-square foot Thames Street Wharf is anchored by Morgan Stanley and Johns Hopkins Medicine, which together lease 92% of the property’s rentable space. Moreover, the property has an average remaining lease term of 7.4 years. In the Baltimore market, Thames Street Wharf’s in-place triple net rent levels rank amongst the highest.Armada Hoffler anticipates the acquisition to be accretive to Funds from Operations, with the property generating an expected cash net operating income of around $7.1 million in the first full year of ownership. This leads to an estimated underwritten cash capitalization rate of 7.1%.The trophy office building, completed by Armada Hoffler Construction in 2010, was the first building in Baltimore’s Harbor Point neighborhood. Notably, Harbor Point is the largest downtown waterfront development site in the city, having the capacity for up to three million square feet of mixed-use space on 27 acres.Moreover, Thames Street Wharf is situated beside 1405 Point — the company’s 17-story luxury apartment high-rise building — and Wills Wharf, the 325,000-square foot, mixed-use building, which is currently being developed by Armada Hoffler. Therefore, the buyout offers scope to capitalize on the synergies from operating multiple asset classes in the same environment.Notably, Armada Hoffler is engaged in developing, building, owning and managing the office, retail and multifamily properties in attractive markets throughout the Mid-Atlantic and Southeastern U.S. It is based in Virginia Beach.Armada Hoffler currently carries a Zacks Rank #3 (Hold). So far this year, shares of the company have gained 15.7%, underperforming the industry’s 16.5% increase.
Stocks to ConsiderSome better-ranked stocks from the real-estate space include Host Hotels & Resorts, Inc. HST, Lamar Advertising Company LAMR and PS Business Parks, Inc. PSB, each carrying a Zacks Rank #2 (Buy), at present. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Host Hotels’ Zacks Consensus Estimate for 2019 FFO per share moved 2.8% north to $1.82 in the past two months.Lamar’s FFO per share estimates for the current year inched up 0.3% to $5.83 over the past month.PS Business Parks’ Zacks Consensus Estimate for the ongoing year’s FFO per share moved up 0.6% to $6.71 in the past month.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportLamar Advertising Company (LAMR) : Free Stock Analysis ReportArmada Hoffler Properties, Inc. (AHH) : Free Stock Analysis ReportPS Business Parks, Inc. (PSB) : Free Stock Analysis ReportHost Hotels & Resorts, Inc. (HST) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Nike: Trade tensions have had no impact on our China business
Nike ( NKE ) reported fiscal Q4 earnings Thursday after the bell, and while the Oregon-headquartered company beat on revenue, it missed the mark on earnings . While the prospect of additional tariffs on Chinese imports still looms large over the sportswear world — Nike said trade tensions have had no impact on its business in the country. London, United Kingdom - April 22, 2011: Nike store logo located in central London, near Covent Garden. The Nike Swoosh logo hanging from a house wall. Nike is a global sports clothes and running shoes retailer. Nike stores are located all over London. Covent Garden is a famous shopping area and tourist hot-spot. “We have not seen any impact on our business to date. And we continue to see strong momentum as we enter fiscal year ’20,” CFO Andrew Campion noted in its earnings call. He also added that revenue in Greater China increased 24% on a currency-neutral basis for the full year. "Over the course of fiscal year '19, all categories drove growth in China with the exception of Global Football ...The primary drivers of growth or the biggest drivers of growth were Nike sportswear, basketball, Jordan. Running grew, Training but in general, extremely broad-based across men's and women's and well led by digital, also broad-based across the marketplace." China plays a crucial role in Nike's overall business. The company has added $1 billion of incremental growth in greater China. CEO Mark Parker said that Nike remains "a brand of China and for China." [Read more: Nike's fourth-quarter earnings miss Wall Street's expectations ] Matt Powell, NPD Group vice president, and senior industry advisor, tells Yahoo Finance that while basketball sneakers are decreasing in popularity in the U.S., they are on the rise in China. For this reason, the company has consciously pushed the Jordan brand in the country — and the move has seemed to have paid off. According to Nike, both Jordan performance and lifestyle offerings have performed well in Greater China. HONG KONG - 2019/04/26: American multinational sport clothing brand Nike store seen at Causeway Bay in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) The next step of Nike's business evolution in China will be to expand its digital platform in the country. The Nike app saw triple-digit revenue growth in Q4, and the company will launch the app for the first time in China in the first half of fiscal year '20, Parker said. Story continues Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade . Read more: Foot Locker makes $100M bet on popular online sneaker marketplace GOAT 4 out 5 top selling Nike products cost more than $130 The hottest resale sneakers by state How Nike took over the NBA sneaker game Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and reddit . |
PLUG Stock Spikes on Predictions of a Record Quarter
Plug Power (NASDAQ:PLUG) isn't typically in headlines, except as a cautionary tale about investing in alternative energy. The manufacturer of hydrogen fuel cells once traded in the $1,500 range but PLUG stock collapsed to the point where it is a penny stock.Source: Fedex However, Plug made headlines starting on Wednesday -- albeit self-generated headlines -- with a rare bit of good news. By the time the markets closed on Thursday, PLUG stock price had climbed 3.74% on the day and continued to move in a positive direction in pre-market trading. Plug Power Stock Gets Boost From News of Record QuarterPlug stock took a big hit in May when the company reported Q1 earnings that missed Wall Street estimates, with losses of 15 cents per share. The company is getting ahead of the earnings story this time. Although it's not expected to report its Q2 earnings until August 8, on Wednesday, Plug put out a press release saying it is on track for a record Q2, stating:InvestorPlace - Stock Market News, Stock Advice & Trading Tips"In the second quarter 2019, Plug Power is on track to deploy approximately 2,000 fuel cell units to a variety of new customers and for expansions of many existing customer programs. The deployment volumes equate to an approximately 70 percent increase from the prior year second quarter."The company also states that it remains on target to meet its full year guidance of $235 to $245 million in gross billings -- despite the disappointing revenue miss in Q1. * 6 Worst S&P 500 Stocks of 2019 (So Far) The move appears to have worked. PLUG stock gained 9 cents on Wednesday after the press release hit, and a further 8 cents on Thursday. Continuing a Year of Growth for PLUG StockThe failure of hydrogen fuel cells to replace traditional batteries as electric cars gained in popularity walloped PLUG stock, and it's made it things tough for other companies in that market including Ballard Power Systems (NASDAQ:BLDP). PLUG stock price began a recovery after hitting all-time lows of 94 cents in early 2017. The company announced a contract to provide hydrogen fuel cells to the United States Postal Service. In April of last year, Amazon (NASDAQ:AMZN) announced it would buy up to 23% of the company's shares, and would begin using Plug Power fuel cells for forklifts in 11 of its warehouses. AMZN was expected to spend $70 million in 2017 and double that in 2018. That news alone was enough to cause PLUG stock to skyrocket by 73% with high volume as investors honed in on the action.The company still closed out 2018 down 44% on the year, as losses continued and profit remained elusive.However, Plug Power stock has pieced together a solid run so far in 2019, after a precipitous drop last year saw it collapse from $1.75 at the end of November, to as low as $1.01 before Christmas. The losses continue -- and that disappointing Q1 was a setback for PLUG stock -- but there has been a steady stream of positive news for the company.In April, Fedex (NYSE:FDX) decided to adopt Plug Power fuel cell technology in some of its airport ground support equipment. In May, the company announced a partnership that will see 100 electric vehicles equipped with Plug Power hydrogen fuel cell engines join the DHL delivery fleet in 2020. In June, it announced the acquisition of EnergyOr, gaining access to the market for hydrogen fuel cell technology in robotics and UAVs.Then there was Wednesday's announcement of the record Q2 expected in August. Media is also starting to connect dots, which is working in Plug Power's favor -- at least in terms of visibility and positive news. Yesterday, the Albany Business Review published an article suggesting that a new law passed the previous week by New York state could be a big win for Plug Power. Forcing companies to transition to carbon neutral renewable energy sources for electric power by 2040 means a big opening for hydrogen fuel cell technology.Asked to comment, Plug Power's CEO noted "Anything that drives reduction in greenhouse gas in the transportation sector is good for Plug." He also predicted the New York plan could create a $10 billion market for hydrogen fuel cells and hydrogen-powered vehicles.With Plug Power targeting $235 to $245 million in gross billings for the year, a $10 billion market in its home state would be a big prize. The question is whether and when the company will be able to leverage all of these opportunities and turn them into profitability. * The 7 Top Small-Cap Stocks Of 2019 Investors are growing impatient. But for now, the overall PLUG stock trajectory for 2019 has been upward. As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post PLUG Stock Spikes on Predictions of a Record Quarter appeared first on InvestorPlace. |
Top Ranked Value Stocks to Buy for June 28th
Here are four stocks with buy rank and strong value characteristics for investors to consider today, June 28th: Natural Resource Partners L.P. (NRP): This owner and leaser of a portfolio of mineral properties has a Zacks Rank #1 (Strong Buy), and seen the Zacks Consensus Estimate for its current year earnings rising 19.3% over the last 60 days. Natural Resource Partners LP Price and Consensus Natural Resource Partners LP Price and Consensus Natural Resource Partners LP price-consensus-chart | Natural Resource Partners LP Quote Natural Resource has a price-to-earnings ratio (P/E) of 6.16, compared with 6.20 for the industry. The company possesses a Value Score of B. Natural Resource Partners LP PE Ratio (TTM) Natural Resource Partners LP PE Ratio (TTM) Natural Resource Partners LP pe-ratio-ttm | Natural Resource Partners LP Quote Warrior Met Coal, Inc. (HCC) : This metallurgical coal producer has a Zacks Rank #1, and seen the Zacks Consensus Estimate for its current year earnings rising 16.6% over the last 60 days. Warrior Met Coal Inc. Price and Consensus Warrior Met Coal Inc. Price and Consensus Warrior Met Coal Inc. price-consensus-chart | Warrior Met Coal Inc. Quote Warrior Met Coal has a price-to-earnings ratio (P/E) of 4.08, compared with 6.20 for the industry. The company possesses a Value Score of A. Warrior Met Coal Inc. PE Ratio (TTM) Warrior Met Coal Inc. PE Ratio (TTM) Warrior Met Coal Inc. pe-ratio-ttm | Warrior Met Coal Inc. Quote Xcel Brands, Inc (XELB) : This media and consumer products company has a Zacks Rank #2 (Buy), and seen the Zacks Consensus Estimate for its current year earnings rising 29% over the last 60 days. Xcel Brands, Inc Price and Consensus Xcel Brands, Inc Price and Consensus Xcel Brands, Inc price-consensus-chart | Xcel Brands, Inc Quote Xcel Brands has a price-to-earnings ratio (P/E) of 3.72, compared with 17.80 for the industry. The company possesses a Value Score of A. Xcel Brands, Inc PE Ratio (TTM) Xcel Brands, Inc PE Ratio (TTM) Xcel Brands, Inc pe-ratio-ttm | Xcel Brands, Inc Quote Canadian Solar Inc. (CSIQ) : This solar power products manufacturer has a Zacks Rank #2, and seen the Zacks Consensus Estimate for its current year earnings rising 2.1% over the last 60 days. Story continues Canadian Solar Inc. Price and Consensus Canadian Solar Inc. Price and Consensus Canadian Solar Inc. price-consensus-chart | Canadian Solar Inc. Quote Canadian Solar has a price-to-earnings ratio (P/E) of 8.97 compared with 30.80 for the industry. The company possesses a Value Score of A. Canadian Solar Inc. PE Ratio (TTM) Canadian Solar Inc. PE Ratio (TTM) Canadian Solar Inc. pe-ratio-ttm | Canadian Solar Inc. Quote See the full list of top ranked stocks here Learn more about the Value score and how it is calculated here. Today's Best Stocks from Zacks Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year. See their latest picks free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Xcel Brands, Inc (XELB) : Free Stock Analysis Report Natural Resource Partners LP (NRP) : Free Stock Analysis Report Warrior Met Coal Inc. (HCC) : Free Stock Analysis Report Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
Dan Loeb Voices Opposition To United Technologies-Raytheon Deal
Third Point sent a letter Friday toUnited Technologies Corporation(NYSE:UTX)'s board of directors laying out concerns over the company'sproposed mergerwithRaytheon Company(NYSE:RTN).
The activist investor is urging the board to re-evaluate the transaction. The merger has no compelling strategic or financial rationale and is unlikely to create sufficient value for shareholders, according to Third Point.
"The contemplated transaction instead complicates the narrative of a more focused aerospace company that was intended to emerge from UTC’s breakup. Third Point will not support the merger in its current form and plans to vote against it. We are confident many of our fellow shareholders feel the same way," Third Point CEO Dan Loeb said in the letter.
A United Technologies spokeswoman said in a statement that the company does not agree with Third Point's conclusions, and said other shareowners see the merger as desirable.
"The United Technologies Board of Directors unanimously approved the transaction following a careful and thorough review process and remains confident that the merger will create a premier systems provider with advanced technologies to address rapidly growing segments of aerospace and defense, and create significant long term value for both companies’ shareowners."
United Technologies continues to expect the deal to close in the first half of 2020, the statement said.
United Technologies shares were trading slightly higher at $129.02 at the time of publication Friday, while Raytheon shares were down 0.52% at $177.15.
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EMERGING MARKETS-G20 nerves suppress gains in Latam currencies
June 28 (Reuters) - Most Latin American currencies edged lower on Friday, as anxious investors awaited the outcome of a high-stake meeting between the U.S. and Chinese leaders over their trade dispute that has roiled financial markets for months. U.S. President Donald Trump said on Friday he hoped for productive talks with Chinese President Xi Jinping, set to be held at the sidelines of a Group of 20 (G20) summit in Osaka, but said he had not made any promises about a reprieve from escalating tariffs. While most traders do not see both sides striking a trade deal, Trump is expected to refrain from imposing new tariffs on Chinese goods. "The broad consensus is that they will agree to resume talks and at best, the U.S. will pledge to hold off from imposing remaining sanctions for now," RBC's global head of FX Strategy, Elsa Lignos, wrote in a note. The Brazilian real was down about 0.3%, giving back some of its gains made on Thursday after the government's special congressional pension coordinator Samuel Moreira said there was still time to vote on pension reform in June, even after a committee meeting was canceled on Thursday. However, Sao Paulo-listed shares gained as the state-run oil firm Petroleo Brasileiro SA jumped more than 1%. Petrobras, which is selling tens of billions of dollars of assets to cut debt, will leave the gas distribution business in Brazil, its Chief Executive Roberto Castello Branco said on Thursday, adding the company was expecting to receive binding offers for its liquefied petroleum gas (LPG) distribution unit as soon as August. Other currencies in the region stayed largely flat, with the Mexican peso holding steady after the Bank of Mexico kept rates unchanged on Thursday, as expected. President Andres Manuel Lopez Obrador said on Thursday that Mexico's state oil company Pemex signed an $8 billion syndicated loan with more than 20 banks to renew credit lines and refinance liabilities. The peso has been hit by recent credit downgrades for the indebted firm. Latin American stock indexes and currencies at 1355 GMT Stock indexes daily % Latest change MSCI Emerging Markets 1055.27 0.04 MSCI LatAm 2849.55 0.8 Brazil Bovespa 101202.56 0.48 Mexico IPC 43297.13 -0.04 Chile IPSA - - Argentina MerVal - - Colombia IGBC 12597.52 -0.03 Currencies daily % change Latest Brazil real 3.8327 -0.36 Mexico peso 19.1580 0.08 Chile peso 679.35 -0.01 Colombia peso 3194.73 0.04 Peru sol - - Argentina peso - - (interbank) (Reporting by Sruthi Shankar in Bengaluru, Editing by Nick Zieminski) |
Are AbbVie and Allergan Really Better Together?
The news thatAbbVie(NYSE: ABBV)had inked a $63 billion deal to buyAllergan(NYSE: AGN)was not met with applause on Wall Street Tuesday. Given that the share price of Allergan is now trading far below the bid price, there are clearly questions about whether the acquisition will go through. And the response reflected in AbbVie's stock move makes it clear that investors think it's overpaying -- though the deal price is less than half of whatPfizerintended to pay just three years ago.
In this segment of theMarketFoolerypodcast, host Chris Hill and senior analyst Jason Moser discuss why these two companies might be better off together, why they might not, the value of Allergan's powerhouse Botox franchise, the market's views, and the possibility that we might be at the start of a societal shift away from such heavy use of prescription drugs.
To catch full episodes of all The Motley Fool's free podcasts, check out ourpodcast center. A full transcript follows the video.
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This video was recorded on June 25, 2019.
Chris Hill:We're going to start with a big deal, this time in the healthcare space. I'm saying healthcare. The huge umbrella of healthcare. AbbVie buying Allergan. Allergan, the maker of Botox. This is a $63 billion deal, cash and stock. Allergan, if you're a shareholder, you're having a heck of a good day because the buyout price is 45% higher than yesterday's close. I am curious, though, at the fact that Allergan is now only trading up about 25%-28% higher. We'll get to whether or not this deal goes through. This is yet another big deal.
Jason Moser:Whether it goes through is going to be interesting, just from the perspective that it wasn't all that long ago that there was an offer made for Allergan for quite a bit more than today's offer. But then also, the recent calls have been for the company actually to split up and spin off some of its assets to realize more value that way. And then you find yourself where you are today as a shareholder, the deal, is that going to be the best way to realize value for Allergan shareholders? I don't know. Maybe. I feel like it is a deal that brings together two companies that can likely do more together than separately. There's not a lot of overlap there.
I look at this space, it feels like the chip maker space in the sense that they're always stuck on this wheel of never-ending innovation. You've always got to come up with something new, the next big thing. If you don't come up with that next big thing, the fall from grace can be pretty severe.
Allergan, I think most people probably know it for Botox. I'm a little bit conflicted there. I know there's some therapeutic implications there with migraines. It seems to be more something people associate with wrinkles and cosmetic stuff. You have to wonder how necessary that is, other than just someone's vanity, and I don't have a lot of sympathy for that. But it's a difficult line of work. Drugs face a lot of scrutiny. There are going to be plenty of failures. It's questionable, honestly, today, whether you should be using some of them. Interesting to see how this all plays out.
Hill:Yesterday, Dan Kline and I talked about the merger in the casino industry withEldoradoandCaesars. That's one that, at least to hear Dan Kline tell it, over the long term, he feels good about that deal. Clearly, based on what's happening with shares of AbbVie today, it looks like there are plenty of people who don't like this deal, or at least think that they are paying too much for Allergan, because shares of AbbVie are down about 15%, and it's not like this stock's been lighting the world on fire the last 18 months.
Moser:Yeah. We talk about that a lot. The acquirer usually feels a little bit of a pinch on the day of a deal. The acquired feels a little bit of a bump. It does seem like these are heavier reactions than we might normally see. I do get that. When you look at Allergan, its overall business, you're talking essentially, between Botox cosmetics and therapeutics, that's more than $2.5 billion of the company's overall sales, and that growth is clearly slowing down, if you look at those numbers. But then, when you look at the two companies combined, there are risks out there when it comes to generics. A lot of these drugs that they've been benefiting from for so long are starting to come off patent now. Generics are a common threat. There was a depression drug recently that Allergan had trouble with.
I do think we are hitting a new generational mentality that is going to question whether we need a lot of these drugs, whether it's depression -- I mean, they're serious problems. I'm not making light of something like depression. Any of these things require attention. But these commercials for these drugs, it takes more time for them to read off the side effects and potential implications as opposed to the benefits of the drug. Remember thatSimpsons-- God, I'll always go back to theSimpsons. Remember thatSimpsonsa while back, where Homer was approached to be the spokesman for Viagragain? Remember that? "It gives you a lot of hair and what you need down there." [laughs] But then, "Possible side effects include loss of scalp and penis." That's what was said next, and that's what these drugs always feel like! You see this little benefit, and you're like, "That's nice!" Then you hear about the side effects, and you're like, "Why the hell would I take that thing? It sounds like I may die! Maybe I'd rather do it on my own terms." There is something they have to figure out there. I'm not sure it's so simple. It does feel like this space is only becoming more pointed in that direction, where you question the benefits vs. the costs. So, the consolidation is not terribly surprising. But two companies with slowing growth doesn't necessarily make one company that can then accelerate growth.
Chris Hillhas no position in any of the stocks mentioned.Jason Moserhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. |
Fastenal (FAST) Up 23% in 6 Months: Can the Bull Run Continue?
Fastenal CompanyFAST is gaining significantly from increased market demand, growth in the industrial vending business and existing Onsite locations. As a result, shares of the company have surged 23.2% compared with the industry’s 16.3% rally in the past six months. However, product and freight inflation, unfavorable product mix, pricing and competitive pressures have been hurting its gross margins. Let’s delve deeper.Growth DriversFastenal has adopted FAST Solutions, an industrial vending process, which has the potential to revolutionize the industrial distribution system and increase profitability. The company installs vending machines at the customer’s location and keeps it filled with products they need. These vending machines notify customers about the products being used and the process of using the same, subsequently controlling the customer’s inventory and administrative cost and reducing product consumption. Particularly, the non-fastener product line has benefited significantly from the initiatives pertaining to industrial vending.Notably, industrial vending is one of the primary growth drivers for Fastenal and has the potential to significantly increase sales and profits. Sales through vending machines grew at or near a double-digit pace in both 2017 and 2018. Fastenal signed 5,603 industrial vending devices in first-quarter 2019, reflecting a 1.3% increase from the year-ago period.As of Mar 31, 2019, Fastenal operated 83,410 vending machines, up 13.4% year over year. It expects vending device signings within 23,000-25,000 units this year.Moreover, the company signed 336 new Onsite locations in 2018 compared with 270 signings in 2017, reflecting an increase of 24.4%. During first-quarter 2019, Fastenal signed 105 new Onsite locations, up from 100 signings in the prior-year period. As of Mar 31, 2019, the company had 945 active sites, up 39.4% from the comparable year-ago period. The increased number of Onsite locations is likely to expand Fastenal’s market share. For 2019, Fastenal expects Onsite signings within 375-400.
HeadwindsNegative customer/product mix due to solid growth of lower-margin national accounts and lower proportion of higher margin fasteners has been denting Fastenal’s gross margin since the past three years. The customer mix shifted toward the large-account end-market, which produces low-margin gross profit but stronger operating income. The product mix shifted from high-margin fastener products to lower margin non-fastener products.In 2017 and 2018, gross margin contracted 30 bps and 100 bps, respectively. Adding to the woes, Fastenal ended first-quarter 2019 with a gross margin of 47.7%, down 100 bps from the year-ago level, mainly due to product and customer mix as well as freight inflation.Meanwhile, earnings estimates for 2019 have remained stable over the past 30 days, depicting analyst's concern surrounding the stock.Zacks Rank & Key PicksFastenal, which shares space with Beacon Roofing Supply, Inc. BECN, has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include BMC Stock Holdings, Inc. BMCH and Builders FirstSource, Inc. BLDR. While BMC sports a Zacks Rank #1 (Strong Buy), Builders FirstSource carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.BMC’s earnings surpassed estimates in each of the trailing four quarters, the average being 39.4%.Builders FirstSource’s earnings surpassed estimates in each of the trailing four quarters, the average being 17.9%.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFastenal Company (FAST) : Free Stock Analysis ReportBuilders FirstSource, Inc. (BLDR) : Free Stock Analysis ReportBMC Stock Holdings, Inc. (BMCH) : Free Stock Analysis ReportBeacon Roofing Supply, Inc. (BECN) : Free Stock Analysis ReportTo read this article on Zacks.com click here. |
Income & Spending Favorable, All Eyes Toward G-20
Friday, June 28, 2019To finish off this week of pre-market activity, we see market futures notably up again. However, it will take major bullish sentiment today to mount the market’s fourth-straight up-week. Just ahead of the G-20 summit in Osaka, Japan this weekend, any such surge seems unlikely.That said, if the scheduled meeting between Presidents Trump and Xi goes well tomorrow, we may see invigorated market indexes to start next week. Should negotiations fall apart or come up short, it’s possible we could see a different story emerge in the markets ahead of the Independence Day-shortened trading week next week.Should investors be interested in other developments besides the G-20 this morning, the new monthly report on Personal Income and Consumer Spending came out this morning. And, as we saw in the previous month, we saw greater strength than expected on the former and slightly less than consensus on the latter.Personal Incomefor May rose 0.5%, ahead of the +0.3% expected, and even with April’s headline figure.Consumer Spending, also for May, reached +0.4%, down 10 basis points from consensus but up from the +0.3% in April. The deflator was up 0.2% month over month and in-line year over year.These numbers can be construed as good news: wages appear to be rising faster than consumer spending. This may bode well for future spending figures as wages finally gain some traction in this years-long employment boom. Gains are still gradual, but they are definitely moving in the right direction.This is the last trading day of the first half of 2019, and we have seen the market’s best performance in 21 years. This came off a roughly 4th quarter of 2018, which mercifully hit its low point in a shortened trading day on Christmas Eve. We’re now back within range of new all-time highs with the second half of the year ahead of us.Mark VickerySenior EditorQuestions or comments about this article and/or its author? Click here>>
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR S&P 500 ETF (SPY): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report |
Is Bitcoin on the Verge of a Second Crypto Boom?
If you can keep the supply of any commodity down, then scare some people around it, you can make anything valuable. Even if it's completely imaginary.Source: Shutterstock That's the story of the latest bitcoin boom, which had the world's most famous (or infamous) cryptocurrency trading at over $13,000 on June 26. It had settled down to under $12,000 by the next day.This means the bitcoin bulls are back, baby, now with predictions its price will soon hit $50,000.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Blame Facebook's Libra CyrptocurrencyBlame Facebook (NASDAQ:FB). More precisely blame its Libra white paper, filled with terms like blockchain and cryptocurrency that make you swoon. * 10 Small-Cap Stocks That Look Like Bargains Never mind that Libra has little in common with blockchain, and nothing in common with bitcoin.It's a so-called "stablecoin," a placeholder like the JPMorgan Chase (NYSE:JPM) JPM Coin. Libra is a low-cost transaction processing system, one that could be valuable in places like Africa and South America.Bitcoin remains what it has always been -- a speculative asset class.It's designed so that only 21 million will ever exist. In practice, fewer than 17 million answers to its puzzle have ever been "mined." Millions of bitcoin have been lost in digital wallets. Millions more are in the hands of people who aren't trading them.The value of a bitcoin, like any commodity, a house or a share of stock, is the price paid for it at the last trade. If you're in a $100,000 house and someone buys an identical house, down your street, for $500,000, you can claim the value of your house is now $500,000. That doesn't mean everyone on your street is getting $500,000, or anything close to it.But you can dream. That's just what bitcoin bulls, who saw an asset trading at $20,000 at the end of 2017 fall to below $4,000 a year later, are doing. The fundamentals of this market haven't changed. The Legend of Tulip TrustThe legend of bitcoin is it was created by a Japanese mathematician named Satoshi Nakamoto. Recently Australian Craig Wright has stepped forward and claimed he's Nakamoto.He's in court against another computer scientist, the late Dave Kleiman, over the issue of what happened to 1.1 million bitcoin the two were said to jointly own in something aptly named the Tulip Trust.Meanwhile traders are using the small number of coins that do trade to squeeze the price higher. Any excuse is a good one. Did a currency exchange go down? Buy! Are the rewards for bitcoin mining about to be cut? Buy! Is the Securities and Exchange Commission even talking about bitcoin funds? Buy, buy, buy!All of this is allowing small bitcoin traders to get burned while big BTC holders, called "whales," get a chance to cash out.Bitcoin boosters like Ohio representative Warren Davidson, who wants to exempt cryptocurrency from securities laws, are blasting regulators as "Third World" Luddites. He has a willing audience in SEC commissioner Hester Peirce, a lawyer and Trump appointee, who goes by the moniker "crypto mom." Bottom Line on Bitcoin in 2019The latest bitcoin boom would all be very funny if it weren't for small traders causing themselves real financial pain, while ideologues like Davidson and Peirce conflate license with liberty and hold real power.Bitcoin remains a small market. Its value is less than 40% of Facebook, and less than 60% of JPMorgan Chase. But blockchain may be different, which is why Facebook and JPMorgan Chase are experimenting with it.Turning value into digital ink, so that bits truly represent money, is the Holy Grail of blockchain. A whole bunch of people are still chasing after it, hopping about the financial page and clacking their coconuts.The second bitcoin boom says they're being taken seriously.Dana Blankenhorn is a financial and technology journalist. He is the author of a mystery novella involving bitcoin, The Reluctant Detective Saves the World , available at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in JPM. To follow the value of cryptocurrencies bookmark https://coinmarketcap.com. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential Compare Brokers The post Is Bitcoin on the Verge of a Second Crypto Boom? appeared first on InvestorPlace. |
Top Ranked Growth Stocks to Buy for June 28th
Here are four stocks with buy ranks and strong growth characteristics for investors to consider today, June 28th:
Asure Software, Inc.(ASUR): This cloud-based human capital management and workspace management solutions provider, which carries a Zacks Rank #1 (Strong Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 13.7% over the last 60 days.
Asure Software Inc price-consensus-chart | Asure Software Inc Quote
Asure Software has a PEG ratio of 0.55 compared with 1.86 for the industry. The company possesses a Growth Score of A.
Asure Software Inc peg-ratio-ttm | Asure Software Inc Quote
OptimizeRx Corporation (OPRX):This provider of digital health messaging services, which carries a Zacks Rank #1, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.9% over the last 60 days.
OptimizeRx Corp. price-consensus-chart | OptimizeRx Corp. Quote
OptimizeRx has a PEG ratio of 0.76, compared with 1.90 for the industry. The company possesses a Growth Score of A.
OptimizeRx Corp. peg-ratio-ttm | OptimizeRx Corp. Quote
United Continental Holdings, Inc.(UAL): This provider of air transportation services, which carries a Zacks Rank #2 (Buy), has witnessed the Zacks Consensus Estimate for its current year earnings increasing 0.4% over the last 60 days.
United Continental Holdings, Inc. price-consensus-chart | United Continental Holdings, Inc. Quote
United Continental has a PEG ratio of 0.37, compared with 0.55 for the industry. The company possesses a Growth Score of A.
United Continental Holdings, Inc. peg-ratio-ttm | United Continental Holdings, Inc. Quote
Amdocs Limited (DOX): This provider of software and services to the communications, pay TV, entertainment and media industry service providers, which carries a Zacks Rank #2, has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.9% over the last 60 days.
Amdocs Limited price-consensus-chart | Amdocs Limited Quote
Amdocs has a PEG ratio of 1.69, compared with 2.02 for the industry. The company possesses a Growth Score of B.
Amdocs Limited peg-ratio-ttm | Amdocs Limited Quote
See the full list of top ranked stocks here.
Learn more about the Growth score and how it is calculated here.
Today's Best Stocks from Zacks
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportUnited Continental Holdings, Inc. (UAL) : Free Stock Analysis ReportOptimizeRx Corp. (OPRX) : Free Stock Analysis ReportAmdocs Limited (DOX) : Free Stock Analysis ReportAsure Software Inc (ASUR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Will Energy Recovery (ERII) Gain on Rising Earnings Estimates?
Energy Recovery (ERII) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
The rising trend in estimate revisions, which is a result of growing analyst optimism on the earnings prospects of this maker of energy recovery devices, should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
Consensus earnings estimates for the next quarter and full year have moved considerably higher for Energy Recovery, as there has been strong agreement among the covering analysts in raising estimates.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate Revisions
The company is expected to earn $0.06 per share for the current quarter, which represents a year-over-year change of -14.29%.
The Zacks Consensus Estimate for Energy Recovery has increased 22.22% over the last 30 days, as one estimate has gone higher compared to no negative revisions.
Current-Year Estimate Revisions
The company is expected to earn $0.27 per share for the full year, which represents a change of +35% from the prior-year number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Energy Recovery. Over the past month, one estimate has moved higher compared to no negative revisions, helping the consensus estimate increase 6%.
Favorable Zacks Rank
The promising estimate revisions have helped Energy Recovery earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Energy Recovery have attracted decent investments and pushed the stock 6.2% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportEnergy Recovery, Inc. (ERII) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Can Oasis Midstream Partners LP (OMP) Run Higher on Rising Earnings Estimates?
Oasis Midstream Partners LP (OMP) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank. The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. For Oasis Midstream Partners LP, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year. The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate: 12 Month EPS Current-Quarter Estimate Revisions For the current quarter, the company is expected to earn $0.81 per share, which is a change of +80% from the year-ago reported number. Over the last 30 days, the Zacks Consensus Estimate for Oasis Midstream Partners LP has increased 16.13% because two estimates have moved higher compared to no negative revisions. Current-Year Estimate Revisions The company is expected to earn $3.26 per share for the full year, which represents a change of +79.12% from the prior-year number. The revisions trend for the current year also appears quite promising for Oasis Midstream Partners LP, with two estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 9.4%. Favorable Zacks Rank Thanks to promising estimate revisions, Oasis Midstream Partners LP currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500. Bottom Line While strong estimate revisions for Oasis Midstream Partners LP have attracted decent investments and pushed the stock 9.3% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oasis Midstream Partners LP (OMP) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments |
Term Sheet -- Friday June 28
1. APPLE’S AUTONOMOUS VEHICLE AMBITIONSHello Term Sheet readers. Lucinda here again until Polina’s return following the July 4 holidays. In the meantime, please send deals tolucinda.shen@fortune.com.Apple acquired ailing autonomous vehicle startup Drive.ai earlier this week for what was reportedly a discount to its $200 million peak valuation, and less than what the company had raised in its lifetime: $77 million.Still, the acquisition was portrayed as rekindling of sorts for the tech giant’s autonomous vehicle ambitions, as Apple had laid of 190 staffers focused on self-driving earlier this year. But Fortune’s David Z. Morris takes a more nuanced look at the deal, and why the combination at its heart is about pared down expectations.Noting that Drive.ai’s most significant innovations recently have focused around controlled automated mass transit, Morris writes:“It seems increasingly clear that such limited routes, rather than freewheeling cross-country robo-journeys, epitomize the real, unsexy near-term potential for driverless vehicles. Other startups like Optimus Ride and Voyage have operated services either onfixed routes, or in sedate and predictable settings likeretirement communities. EvenAlphabetspinoff Waymo limited the ‘launch’ of its commercial robotaxi service to a few handpicked customers on the tidy suburban streets ofChandler, Az.….The Drive.ai acquisition, then, is hardly a rekindling of Apple’s autonomous ambitions. From its reported discount price tag to the glorified shuttle buses at its heart, the deal instead points to dashed hopes, hedged bets, and the continued shrinking scope of the erstwhile Project Titan. Apple may have added Drive.ai’s engineers to its roster primarily to get their specific experience with automated, fixed-route transit.Apple, then, may no longer be trying to build the iPhone of cars. That would be a disappointment for investors because selling private cars to households has much more potential upside than selling vans to cities and retirement communities. But for society as a whole, low-speed, low-risk autonomous mass transit may in fact be a rosier mid-term scenario.”Read thefull story here.M&AI had the chance to sit down with RBC’s Deputy Chairman of Global Investment Banking Larry Grafstein recently at the UJA Federation of New York’s Banking & Finance event, to chat about the M&A environment ahead of Thursday’s Democratic debate.Global M&A volume fell 27% year-over-year in the second quarter of the year, to $842 billion in part due to continued trade war tensions between the U.S. and China, perRefinitiv. But there was a strange bright spot: mega deals stemming from the U.S. helped prop up the figure however, with the $121 billion merger between Raytheon and United Technologies’ airspace division and another $63 billion deal between AbbVie and Allergan.“With low interest rates, it continues to be a robust environment,” Grafstein said. “As we get toward the election next year, it could change people’s calculations because it takes a while for deals to get approved from an antitrust perspective. So maybe there are some people that are thinking that if the Democrats win, antitrust enforcement might be tougher.”So companies hoping to close a deal before the 2020 elections will likely start having those conversations now—which could lead to an acceleration in dealmaking, he said.Meanwhile, Sen. Kamala Harris (D-Calif.) dominated news coverage following Thursday’s presidential debate after pressing former vice president Joe Biden hard on racial issues. Though not nearly as vocal or aggressive as Sen. Elizabeth Warren (D.-Mass.) on breaking up big tech companies and are considered softer on antitrust regulations, both Biden and Harris have opined that the issue warrants serious consideration.
2. VENTURE DEALS•Fungible, a Santa Clara, Calif.-based provider of data-centric computing, raised $200 million in Series C funding.SoftBank Vision Fundled the round and was joined by investors includingNorwest Venture Partners.•Restaurant365, an Austin and Irvine, Calif.-based provider of cloud-based restaurant accounting software, raised $88 million in funding.ICONIQ Capitalled the round.•Aera Technology, a Mountain View, Calif.-based firm focused on self-driving execution, raised $80 million in Series C funding.DFJ Growthled the round, and was joined by investors includingNewView CapitalandGeorgian Partners.•Sanifit, a Spain and San Diego-based biopharmaceutical company focused on treating progressive vascular calcification disorders, raised $80.9 million in funding.Caixa Capital Riscled the round.•Laiye,a Beijing-based AI concierge service, raised $35 million in Series B funding led byCathay Innovation,and was joined by investors includingWu CapitalandLightspeed China Partners.•Superhuman,a San Francisco-based email ordering app, raised a $33 million in Series B funding. Andreessen Horowitz led the round.Read more.•Calysta, a Menlo Park, Calif.-based firm focused on protein animal feed, raised $30 million in funding.BP Ventureswas the investor.•Ultivue, a Cambridge, Mass.-based provider of tissue biomarker identification, raised $22 million in Series C funding.Northpond Venturesled the round and was joined by investors includingARCH Venture Partners, 6 Dimensions Capital, Yonghua Capital,andApplied Ventures.d•Vaxess Technologies, a Cambridge, Mass.-based biotechnology company focused on silk-powered MIMIX smart release patch, closed its $8.2 million Series A round.The Engineled the round.•ConnexPay,a Minneapolis travel industry payments provider,raised $7 million in Series A funding.BIP Capitalled the round.•VIA, Somerville, Va.-based artificial intelligence and blockchain provider focused on the energy and utility industry, raised $7 million in seed funding fromWestly Group.•WeGift,a London-based firm for digital rewards and automated gift card transactions, raised 4 million pounds ($5.1 million) in Series A funding.Stride.vcand was joined by investors includingSAP.iOFundandUnilever Ventures.•Homeroom, a San Francisco-based platform for after-school tutoring sessions, raised $3.5 million in seed funding.Forerunner Venturesled the round and was joined by investors includingFelicis Ventures, Precursor VenturesandKapor Capital.•Opendorse, a Lincoln, Neb.-based athlete marketing platform, raised $3.1 million in funding.Serra VenturesandFlyover Capitalled the round.•3Box, a Brooklyn, N.Y.-based enterprise platform developer focused on cloud storage, raised $2.5m in a seed round led by Placeholder Ventures, where he is a venture partner.•C2RO,a Montreal-based robotics SaaS platform,raised C$2.25 million ($1.7 million) in funding.Fonds Innovexportled the round and was joined by investors includingGCI Capital Inc, Harbor Street Ventures, Tandemlaunch,andMinistere de Economie et L’Innovation.
3. PRIVATE EQUITY DEALS•Lego’sfounding family andBlackstone Groupagreed to acquireMerlin,the owner ofMadame Tussauds,for $7.5 billion deal, perReuters.•Ontario Teachers’ Pension Planinvested inSpaceX, the maker and operator of rockets and spacecraft. Financial terms weren’t disclosed.•Chico’s FAS Increjected the most recent buyout offer fromSycamore Partners. Sycamore planned to offer $3 a share cash or $350 million.Read more.•Temasek Holdingsagreed to acquire 21.7% ofLi & Fung Ltd’s subsidiaryLF Logistics Holdingsfor $300 million, perReuters.•KKRandBlackrockclosed a deal to acquire 40% ofAbu Dhabi National Oil Company‘s pipelines for $4 billion, perReuters.•Incline Equity PartnersacquiredBrown & Joseph, an Itasca, Ill.-based debt collection agency. Financial terms weren’t disclosed.•MPE Partnersinvested inGarmat USA, an Englewood, Colo.-based provider of products for automotive collision repair. Financial terms weren’t disclosed.•Illuminate Education, a portfolio company ofInsight Partners, acquiredFastBridge Learning, a Minneapolis-based assessment platform that helps teachers monitor student progress. Financial terms weren’t disclosed.•Advent Internationalagreed to acquire a majority stake inTransaction Services Group,a provider of business management software and payments solutions. Financial terms weren’t disclosed.•Arlington Capital Partnersmade a majority investment inRiverpoint Medical, a Portland, Ore.-based maker of medical devices. Financial terms weren’t disclosed.•Persistence Capital Partnersinvested inAnova Fertility & Reproductive Health, a Toronto-based provider of fertility and reproductive care. Financial terms weren’t disclosed.
4. OTHER DEALS•Bracco Imaging S.p.Aagreed to acquireBlue Earth Diagnostics, an Oxford, U.K.-based molecular imaging company, for $450 million.•Quanterixagreed to acquireUmanDiagnostics, an Umeå, Sweden-based supplier of neurofilament light antibodies and ELISA kits focused on neurodegenerative conditions. Quanterix agreed to pay $16 million in cash and $6.5 million in Quanterix stock.•Mood Mediaacquired all the assets ofSouth Central A\V, a Nashville-based affiliate of mood focused on audiovisual systems.
5. IPOS•Belle Internationalfiled plans to spin off its sportswear business through an $1 billion Hong Kong IPO,Reutersreports citing sources.•Change Healthcare, a healthcare tech firm, raised $557 million in an offering of 42.9 million shares priced at $13, below its $16 to $19 range. The firm posted revenue of $3.3 billion and income of $176.7 million in the year ending March 2019.McKesson, Blackstone, andHellman & Friedmanback the firm. Barclays, Goldman Sachs, and J.P. Morgan are underwriters.Read more.•BridgeBio Pharma, a Palo Alto, CA-based Phase 3 biotech for genetic diseases, raised $349 million in an offering of 20.5 million shares priced at $17, above its $14 to $16 range. It has yet to post a revenue and posted losses of $144 million in 2018.KKRandVikingback the firm. J.P. Morgan, Goldman Sachs, Jefferies, SVB Leerink, KKR, Piper Jaffray, Mizuho Securities, BMO Capital Markets, and Raymond James are underwriters.It plans to list on the Nasdaq as “BBIO.”Read more.•Adaptive Biotechnologies, a Seattle-based maker of an immunosequencing platform for diagnosing diseases, now plans to raise $300 million in an IPO of 15 million shares priced between $18 to $19. It posted revenue of $55.7 million and loss of $46.4 million in 2018.Viking Global(36% pre-offering) andMatrix Capital(16.4%) back the firm. Goldman Sachs, J.P. Morgan, BofA Merrill Lynch, Cowen, Guggenheim Securities, William Blair, and BTIG are underwriters. It plans to list on the Nasdaq as “ADPT.”Read more.•Health Catalyst,a Salt Lake City-based provider of a data analytics platform and services to healthcare organizations, filed for a $100 million IPO. The firm posted revenue of $112.6 million in 2018 and losses of $62 million.Sequoia(21.9% pre-offering),Norwest(21%), andUPMC(6.3%) back the firm. Goldman Sachs, J.P. Morgan and William Blair are underwriters. It plans to list on the Nasdaq as “HCAT.”Read more.•Howard Midstream PartnersLP, a San Antonio, Texas-based operator of midstream energy assets in Texas and Pennsylvania, withdrew plans for a $200 million IPO.Read more.•Morphic Holding, Waltham, Mass-based maker of oral small-molecule integrin therapeutics for various chronic diseases, raised $90 million in an IPO of 5 million shares priced at $15, the midpoint of its range It posted revenue of $3.4 million in 2018 and loss of $23.8 million.GlaxoSmithKline(9.8% pre-offering) andPfizer(9.3%) back the firm. Jefferies, Cowen, BMO Capital Markets, and Wells Fargo Securities are underwriters. It plans to list on the Nasdaq as “MORF.”Read more.•Karuna Therapeutics,a Boston-based Phase 2 biotech developing therapies for schizophrenia and other CNS disorders, raised $89 million in an offering of 5.6 million shares priced at $16, at the midpoint of its $15 to $17 range. It has yet to post a revenue, and posted losses of $17.5 million in 2018.PureTech Health, ARCH Ventures, andThe Wellcome Trustback the firm. Goldman Sachs, Citi and Wells Fargo Securities plans to list on the Nasdaq as “KRTX.”Read more.•WiMi Hologram Cloud, a Beijing-based holographic augmented reality application platform, filed for a $50 million in an initial public offering. The firm posted revenue of $32.8 million in 2018 and income of $13.3 million. The Benchmark Company, Maxim Group LLC, China Merchants Securities, AMTD Global Markets, BOCI Asia, China Everbright, GF Securities, and Axiom Capital Management are underwriters. It plans to list on the Nasdaq as “WIMI.”Read more.
6. EXITS•Centerbridge Partners L.P.agreed to acquireSolidus Solutions, a European producer of sustainable-fibre based packaging solutions, for an enterprise value of €330 million ($375.5 million), fromAurelius Equity Opportunities.•Equistone Partners Europeis in exclusive negotiations to acquireSateco, a French firm focused on manufacturing and distribution of metal formwork equipment for construction sites, fromNaxicap Partners. Financial terms weren’t disclosed.•Court Square Capital Partnersagreed to acquireOffen Petroleum,a Commerce City, Colo.-based provider of petroleum logistics services,fromLariat Partners. Financial terms weren’t disclosed.•Lightyear CapitalandOntario Teacher’s Pension Planagreed to acquireLendmark Financial Services, a Lawrenceville, Ga.-based consumer finance platform. fromBlackstone.No financial terms were disclosed.
7. FIRMS + FUNDS•Deerfield Managementplans to raise $1 billion for Deerfield Healthcare Innovations Fund II, per anSEC filing.•Top Tier Capital Partnersplans to raise $350 million for Top Tier Venture Capital IX, per anSECfiling.•Bookend Capital Partnersplans to raise $300 million for its debut fund, per anSEC filing.
8. PEOPLE•Manhattan Venture PartnersappointedAndrea Lamari Walneas partner.
9. SHARE TODAY’S TERM SHEETView this email in your browser.Lucinda Shencompiled today’s Term Sheet. Please send all dealshere. |
Treasury ETF (SHV) Hits New 52-Week High
For investors seeking momentum,iShares Short Treasury Bond ETF SHVis probably on radar now. The fund just hit a 52-week high and is up 0.5% from its 52-week low price of $110.07/share.But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:SHV in FocusSHV targets the short end of the yield curve. It holds 49 bonds in its basket with remaining maturities between one month and one year. It has a weighted average maturity of 0.35 years and effective duration of 0.34 years. It is a popular and liquid ETF in the Treasury space with AUM of $24.6 billion and charges 15 bps in annual fees. It has 2.17% in 30-day SEC yield (see: all the Government Bond ETFs here).Why the Move?The Treasury corner of the fixed income world has been an area to watch lately given a decline in yields. Escalating trade war tensions have raised global growth worries, thereby leading investors to safety in the bond market. Additionally, Fed’s cautious approach is also supporting the rally.More Gains Ahead?Currently, SHV has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook, Therefore, it is hard to get a handle on its future returns one way or the other. However, a low weighted alpha of 0.30% and a low 20-day volatility of 0.67% for the ETF show that there is still some promise for risk-aggressive investors who want to ride on this surging ETF.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportiShares Short Treasury Bond ETF (SHV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report |
Apple (AAPL): With High Hopes for Trade War Resolution, Is It Time to Buy the Stock?
US Treasury Secretary Steven Mnuchin struck a positive tone about the US/China trade battle on Wednesday, which pleased Apple (AAPL) investors. Apple has been under the cloud of this trade war for the last few months, with much of their production and supply chain based in China. Mnuchin’s said that a US/China trade deal was “90 percent” complete, and he believes that “there’s a path to complete this” at the G20 Summit in Japan this week when Donald Trump and Xi Jinping meet.
Last week, Apple formally displayed its displeasure with the geopolitical situation when it formally asked the US government to not accelerate its tariffs on goods made in China. They also told the US Trade Representative that the government’s actions would hurt its global competitiveness. One month ago, Goldman Sachs analysts wrote that there is a 29% downside risk to Apple’s earnings due to the possibility of the US/China trade war escalating further.
Wedbush analystDaniel Ivesbelieves that Wall Street has priced in Apple’s worst-case scenario with this trade-war, and after these positive comments he maintains his Outperform rating on the stock, with a $235 price target. (To watch Ives' track record,click here)
Ives believes that continued tariffs could reduce earnings by 10% to 15% over the next few years, but the seemingly strong possibility this overhang is removed is a fantastic sign for the tech giant and its investors.
How much upside does Ives foresee in the stock if everything goes well? Ives thinks that “a resolution to the China tariff situation could add between $20-$25 per share to Apple's stock over the coming months.” This is due to the margin increases from the tariff reduction for phones sold in the US, and the significant importance of the Chinese market to Apple going forward with a saturated US market that has grinded iPhone sales growth to a standstill.
Overall, AAPL stock had 15 bullish analysts in its corner over the last three months, 15 analysts playing it safe on the sidelines, and only two bears who think that the valuation on Apple stock is beyond crazy. The average price target on AAPL is $212.90, representing nearly 7% upside from where the stock is currently trading.
To read more on the nitty gritty of what’s going on in the tech stocks space,click here.
Read more on AAPL:
• Apple (AAPL) Slowly Assembling Approach to Autonomy with Drive.ai
• Apple & Google’s Vision of the Future Contrasted by Developer Resources
• Chinese Government Setting Tone of Support Towards Apple (AAPL)
• US-China Tensions Playing Stronger Role in Apple (AAPL) Stock
• Is 33% Upside Good Enough to Risk Buying Fitbit (FIT) Stock? Deutsche Bank Doesn't Think So
• Deutsche Bank Remains Sidelined on AMD Stock; Here's Why
• Antitrust Investigation Is Not a Major Threat to Alphabet (GOOGL) Stock, Says Top Analyst
• Tesla's (TSLA) Gigafactory Is Impressive, But Its Stock Isn't, Says RBC Capital |
Sarepta surges after Pfizer gene therapy data raises safety concerns
By Manas Mishra and Michael Erman
(Reuters) - Shares of Sarepta Therapeutics Inc <SRPT.O> surged 15% on Friday after some safety concerns were raised in a small, early-stage study of a competing gene therapy for a rare muscle-wasting disorder from Pfizer Inc <PFE.N>.
Sarepta reported promising data from its study last year and is in a race with Pfizer and Solid Biosciences Inc <SLDB.O> to first market a gene therapy for the genetic degenerative disorder that affects one in 3,500 to 5,000 males.
Shares of Pfizer were marginally up in midday trading, while Sarepta shares were up 15% and Solid Biosciences was up about 10%.
Baird analyst Brian Skorney said Pfizer fell way short on both safety and efficacy, making Sarepta' position in the space even stronger.
Sarepta already has a treatment, Exondys 51, in the market for some form of the disease.
People with the condition lack the protein dystrophin needed to keep muscle cells intact. That can lead to life-threatening damage to the heart, and over time, death, often at a young age.
Pfizer's six-patient study tested two different dosages of the gene therapy in boys in the age group of 6 to 12. Two months after receiving the one-time therapy, mini-dystrophin expression levels ranged from 10% to 60% of normal.
Skorney said all measures of expression looked worse. "More importantly, it just did not look safe."
Two Duchenne muscular dystrophy (DMD) patients in the trial experienced side effects that landed them in the hospital, the company said.
The higher tested dose appeared to be more effective, according to data presented by Pfizer at the Parent Project Muscular Dystrophy conference in Orlando, Florida.
Pfizer said it had paused enrollment in the study and then modified the study protocol in order to mitigate future risks of similar safety events.
The company said future trials will use the higher dose, which had triple the concentration of virus with genetic material. The U.S. drugmaker said it also may test an intermediate dose.
Both of the boys who required hospital treatment had received the higher dose.
One had developed a kidney injury. He was hospitalized for 11 days and received two doses of Alexion's <ALXN.O> Soliris, but left the hospital with normal kidney function.
The other suffered nausea and vomiting after the treatment and spent two days in a hospital.
(Reporting by Michael Erman in New York and Manas Mishra in Bengaluru; Editing by Bill Berkrot and Maju Samuel) |
The Zacks Analyst Blog Highlights: Enterprise Products, Magellan Midstream, Pioneer Natural and Diamondback
For Immediate Release
Chicago, IL –June 28, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Enterprise Products Partners LP EPD, Magellan Midstream Partners LP MMP, Pioneer Natural Resources Company PXD and Diamondback Energy Inc FANG.
Here are highlights from Thursday’s Analyst Blog:
Middle East Tensions Drive US Oil Demand: 4 Likely Gainers
Tensions in the Middle East are not only lending support to oil prices but are also helping the United States steal market power from the OPEC in the crude export race. This is because crude shipments through the Strait of Hormuz, touted as the most important global passage, situated between Iran and Oman might get disrupted by the escalating tensions between Washington and Tehran.
President Donald Trump has entreated nations with excessive dependence on Middle East oil to safeguard their ships or vessels while transporting crude through the unsafe strait.
Intensifying US-Iran Tensions
The Global Hawk surveillance drone, manufactured by the United States, was shot down last week by the Revolutionary Guard of Iran. Tehran, the capital city, alleged that close to the Strait of Hormuz, the drone had breached the airspace of Iran. To make its voice stronger and clearer, Tehran even insisted that the drone’s debris has been found within its inland waters.
However, Washington rubbished the accusation and added that the drone was intercepted over the international airspace. The drone attack followed the attack on two oil tankers that occurred on Jun 13 in the Gulf of Oman for which, the United States blamed Tehran.
Overall, tensions are probably bringing the United States and Iran on the verge of war after Washington recently stepped back from launching planned airstrikes when the U.S. drone was shot down.
US Oil Demand Soaring
Instead of retaliating for the time being, Trump has stepped up to impose new sanctions after Washington took steps last April to prevent all countries from purchasing crude from Tehran. Sanctions on oil export hurt Iran as the country’s economy is primarily dependent on export revenues from the commodity.
Notably, the rising friction between the countries might disrupt the shipment of crude through the Strait of Hormuz, responsible for the passage of 20% of the total crude oil being consumed in the world, per media report. Through the strait, majority of the crude volumes of countries like Kuwait, UAE, Iraq and Saudi Arabia are being exported. Iran has reportedly warned that if its economy is hit by America’s sanction on its crude export, it will attempt to thwart the passage of oil tankers through the strait.
With the flared-up tensions, the rate of tankers or carriers of crude through the Strait of Hormuz has skyrocketed, per the date provided by Jefferies Financial Group Inc. This has opened up possibilities of more U.S. crude export. In fact, this June will see the loading of 21 VLCCs (very large crude carrier) in the Gulf Cost of the United States, surpassing March’s record of 17 VLCCs, according to RBC Capital Markets.
The rising crude export volumes from the United States have been reflected in the data provided by the U.S. Energy Information Administration (EIA). Notably, EIA’s latest data showed that through the week ended Jun 14, U.S. oil volumes that were exported totaled 3.4 million barrels per day, almost near the record of 3.6 million barrels per day through the week ended Feb 15.
Which Stocks Might Gain?
With demand for U.S. crude rising across the world, the imported volumes of oil from OPEC countries have slipped to the lowest level in 30 years, per media reports. As a result, the upstream and the midstream energy firms in the United States are well positioned to gain.
Midstream players with extensive oil pipeline network, storage assets and providing services in the terminals to load cargo are poised to gain from the rising U.S. crude export volumes. Moreover, explorers and producers in the prolific shale plays that are contributing to the production growth are also expected to gain.
It seems to be an opportune time for energy investors to consider midstream and upstream stocks. Here, we present one stock with a Zacks Rank #1 (Strong Buy) that is well positioned to gain. There are three other stocks with a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Headquartered in Houston, TX,Enterprise Products Partners LPhas a pipeline network that spreads across roughly 49,200 miles. Apart from storage assets, the partnership has several facilities for exporting commodities in the U.S. gulf coast region.
The largest crude exporter currently sports a Zacks Rank #1 (Strong Buy). Notably, through 2019, the partnership is likely to see earnings growth of almost 10%.
Magellan Midstream Partners LP, headquartered in Tulsa, OK, is also well-positioned to capitalize on the growing demand for crude oil storage properties along with new facilities for exporting the commodity. Through a joint venture with LBC Tank Terminals, the partnership has operations related to loading of super tankers in the dock along with storage of crude along the Gulf Coast region in the United States.
The partnership, with a Zacks Rank #3 (Hold), has witnessed positive earnings estimate revisions in the past 60 days.
With the divestment of its Eagle Ford resources, Pioneer Natural Resources Companyhas become a pure-play Permian stock. Since the Permian basin has surpassed other shale plays in the United States to boost the country’s oil production and backing crude export volumes, Pioneer Natural is well positioned to gain.
The stock with Zacks Rank of 3 is likely to see earnings growth of 45.2% through 2019.
Headquartered in Midland, TX,Diamondback Energy Incis a pure-play Permian player with presence across more than 344,000 net acres in the Permian. The #3 Ranked stock is likely to see earnings growth of nearly 37% through 2019.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
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Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMagellan Midstream Partners, L.P. (MMP) : Free Stock Analysis ReportEnterprise Products Partners L.P. (EPD) : Free Stock Analysis ReportPioneer Natural Resources Company (PXD) : Free Stock Analysis ReportDiamondback Energy, Inc. (FANG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
ESG: Investing in Line with Your Values
Sticking to your principles feels good. But could it also be good for your portfolio? SEE ALSO: 8 Great Vanguard ETFs for a Low-Cost Core That's the question raised by "sustainable" funds, an umbrella term for a diverse group of mutual funds and exchange-traded funds that generally incorporate environmental, social and corporate governance (ESG) criteria in their investment processes. Typically, that doesn't mean simply avoiding "sin" stocks such as alcohol, tobacco and firearms companies. The majority of these funds take a more active approach. They may seek out companies that have a strong track record on pollution, product safety and human rights; buy bonds that fund renewable energy projects; or actively engage with portfolio companies on board diversity or other governance issues. Fund companies and investors are seeing the virtues--and potential profits--of values-based investing. There were 351 sustainable U.S. mutual funds and ETFs at the end of last year, according to investment-research firm Morningstar, up nearly 50% from 2017. And for the third consecutive year, sustainable funds took in record net new money in 2018, Morningstar found, even as the overall U.S. fund industry suffered its worst year since 2008. While sustainable investing is often portrayed as a millennial phenomenon, baby boomers are also flocking to these funds as they increasingly look for opportunities to align their portfolios with their values. A 2018 survey by American Century Investments found that 44% of boomers are drawn to investments designed to have a positive social impact. But sustainable funds are not always easy to navigate. As demand for ESG investments has grown, for example, so too has the number of research firms that rate companies on ESG criteria. Different funds may rely on different ratings when selecting portfolio holdings. Although sustainable funds were long focused on certain market segments, such as U.S. large-cap stocks, they now cover every major asset class, making it possible for investors to build a complete, diversified portfolio of these funds. Their investment strategies have also evolved, in many cases shifting from a focus on excluding certain industries to including sustainability leaders in each industry. Instead of simply avoiding energy companies, for example, they might focus on those that invest heavily in green technology, says Shana Sissel, senior portfolio manager at CLS Investments. "That actually encourages companies to move away from bad habits," she says, and "to take more and more positive, impactful steps for the broader good." Story continues Investors clinging to outdated perceptions of sustainable funds may be missing opportunities in this fast-growing segment of the fund world. Here's a look at sustainable-fund fact and fiction. Myth 1: These are niche products for Greenpeace-activist types. Many sustainable funds are broadly diversified portfolios meant to serve as core holdings--and in fact, you may already hold one and not even realize it. In the past couple of years, a growing number of fund firms have been adding ESG criteria into the investment processes of existing, plain-vanilla funds. When this happens, "the disclosures tend to be fairly limited," says Henry Shilling, founder and director of research at Sustainable Research and Analysis, in New York City. For example, a fund may simply amend its prospectus to note that it's integrating ESG factors into its investment decision-making, he says, "and some investors may not be aware of the fact." Myth 2: Sustainable investing means sacrificing returns. "That's a holdover perception" from a time when these funds' primary strategy was excluding "sin" stocks or whole industries from their portfolios, Shilling says. Anything that narrows the potential investment universe, the theory went, could be a drag on returns. But each year from 2015 to 2018, a majority of sustainable funds have landed in the top half of their respective categories, according to Morningstar. In 2018, the stock market's first down year since the financial crisis, that figure was 63%. "This is not a donation--this is an investment," says Brie Williams, head of practice management at State Street Global Advisors. "Performance is paramount." Most of these funds have short track records, however, and there's no guarantee they'll outperform over the long haul. But there is reason to believe that ESG issues can affect a company's bottom line. Good environmental practices, for example, could help companies avoid costly accidents, while treating employees properly could help attract and retain high-quality workers. What's more, companies that effectively manage ESG issues tend to be higher quality, lower-volatility holdings that may hold up relatively well when markets go haywire, according to Morningstar. Myth 3: Sustainable funds are expensive. Sure, some sustainable funds are more expensive than their average category peers. That's in keeping with many investors' thinking that a sustainable strategy adds an extra level of screening and research that will raise fund fees. But the price war that has driven some index-fund fees down to zero is also taking shape among sustainable ETFs. Vanguard and DWS Investments, for example, have recently launched sustainable ETFs charging just 0.12% and 0.10%, respectively. ESG ETFs are likely to get even cheaper from here, says Elisabeth Kashner, director of ETF research and analytics at FactSet. Myth 4: If you've seen one principles-based fund, you've seen them all. These funds aren't easily pigeonholed, in part because "we have a great diversity of values," Kashner says. The principles-based funds she tracks, for example, include the Point Bridge GOP Stock Tracker ETF (symbol MAGA ), which holds companies whose employees and political action committees support Republican candidates, as well as Impact Shares YWCA Women's Empowerment ETF ( WOMN ), which holds companies that support gender equality. There are also plenty of diverse opinions when it comes to rating companies on ESG factors. Shilling estimates that as many as 125 firms globally now offer such ratings, and a company that scores highly in one rating system may fare poorly in another. SEE ALSO: The 25 Best Low-Fee Mutual Funds to Buy Now Some say that's a good thing. "You want divergence of opinions," says Linda Zhang, chief executive officer of Purview Investments, in New York City. "Investors need to do their own due diligence to find out which approaches are more in line" with their values, she says. Read fund annual and semiannual reports and manager commentary, Shilling suggests, to find out if the strategies in the prospectus are reflected in the actual investment decision-making. ESG Funds That Are Good and Cheap These four low-cost, broadly diversified exchange-traded funds offer a sustainable twist: iShares ESG U.S. Aggregate Bond ( EAGG ), expense ratio 0.10%. Vanguard ESG International Stock ( VSGX ), expense ratio 0.15%. Vanguard ESG US Stock ( ESGV ), expense ratio 0.12%. Xtrackers MSCI USA ESG Leaders Equity ( USSG ), expense ratio 0.10%. EDITOR'S PICKS The Berkshire Hathaway portfolio: All 48 Buffett Stocks 8 Great Core Vanguard ETFS to Own 19 Best Stocks for the Rest of 2019 Copyright 2019 The Kiplinger Washington Editors |
Deutsche Bank considering up to 20,000 job cuts, WSJ reports
June 28 (Reuters) - Deutsche Bank AG is considering cutting 15,000 to 20,000 jobs, or more than one in six full-time positions globally, the Wall Street Journal reported on Friday, citing people familiar with the discussions.
The layoffs would probably take place over more than a year and would spread across regions and businesses, the Journal said https://on.wsj.com/2KKw9LX.
Top-level talks about the restructuring took place on Thursday and Friday, but no final decisions have been made, a source close to the matter told Reuters.
Deutsche Bank is completing a plan that may eliminate hundreds of positions in equities trading and research, as well as derivatives trading, as part of a broad restructuring, Bloomberg reported on Friday, citing sources.
Sources told Reuters last week that the bank plans to cut the size of its U.S. equities business, leaving only a skeleton operation in place to service corporate and high-net-worth clients.
Members of Deutsche's supervisory board discussed those plans on a call earlier this month and agreed that large-scale cuts were necessary in the bank's U.S. equities and rates trading businesses, Reuters reported, citing the sources.
Chief Executive Officer Christian Sewing is trying to convince investors he can turn around Germany's biggest bank, whose shares hit a record low this month. He told investors at the annual meeting last month that Deutsche was prepared to make "tough cutbacks" at its investment bank (Reporting by Rama Venkat in Bengaluru and Arno Schuetze in Frankfurt; editing by Larry King) |
Lition, Fantom: 2 Cryptos To Watch As The New Crypto Bull Market Heats Up
By Dr. Bruce Ng
As Bitcoin makes new rally highs, it has confirmed and reconfirmed the crypto bull market of 2019.
So, since I continually review the technology of new coins covered by Weiss Crypto Ratings, I figured this would be a good time for me to jump in and identify a few that I feel are deeply undervalued.
Today, I’ll cover two of them:
Undervalued Crypto #1: Lition (LIT)
This coin is described as “a scalable public-private blockchain with deletable data features, made for commercial products.”
Does “private blockchain” fly in the face of decentralization? And does “deletable data” contradict the immutability of blockchains?
Not entirely. To work with businesses, some data needs to be public; some needs to be private. And that’s why Lition has both.
Lition will be a sidechain to Ethereum. So the public portions of Lition will be recorded on the Ethereum network and will be fully transparent to anyone who wants to conduct an audit.
But, at the same time, Lition needs private sidechains anchored to Lition itself. This way, a business using Lition can store and edit information that it needs to keep confidential — data used for regulatory compliance, for example.
Prior to developing the Lition blockchain, the team already had a revenue-generating business known as Lition Energy. And soon, the team plans to develop Lition for use cases like peer-to-peer energy trading and bank lending. It can also be used as a platform for Security Token Offerings (STOs), which are expected to be more like securities than ordinary tokens.
Recently, theLition team has modified the token lockup period. And this should reduce the active supply significantly in the coming months. In fact, already, Lition in circulation is expected to be reduced to 30 million in July, compared to about 70 million recently.
Plus, here are some other positives I think could be critical:
1. The folks behind the Lition team are likely todevelop a Bridge to Binance Chain, enabling interoperability between them. And they will apply for listing on Binance Chain, which could pave the way for eventual listing on Binance central. End result: These efforts could significantly increase trading liquidity.
2. The Lition Mainnet will launch in Q3, enabling staking and masternodes.
3. Lition has a partnership with the German software giant SAP. Unlike typical crypto partnerships, SAP will invest some real effort into Lition, primarily to develop its smart contract platform.
Lition is currently trading at 14 cents, which is quite near the Initial Coin Offering price of 10 cents. And I think that’s dirt-cheap.
It’s available on the Bibox and IDEX exchanges. But it has not yet gotten exposure on any major exchanges. This is the primary pitfall investors should watch out for: poor trading liquidity.
As a result, true price discovery can only happen once liquidity increases with a listing on major exchanges like Binance Chain or Binance.
Undervalued Crypto #2: Fantom (FTM)
Fantom is cryptocurrency that does not use blockchain. Instead it uses an innovative approach called directed acyclic graph (DAG).
I won’t dwell on the technical details. But suffice it to say that, unlike blockchains, it’s infinitely scalable with the capacity to do virtually anything that’s done today on the internet. For example ...
• It could be used as the nervous system for smart cities.
• It could be the infrastructure backbone for a complex network of devices connected via the Internet of Things (IOT).
• And, as such, it could be a secure and efficient platform for public utilities, medical records, healthcare services, identity storage and more.
• A key innovation Fantom has pioneered is Lachesis consensus. This enables Fantom to settle transactions instantly and run smart contracts at a high speed. In recent testing (Testnet), it achieved 25,000 transactions per second. Once launched (Mainnet), we conservatively estimate it could reach speeds exceeding 100,000 transactions per second.
Other DAG-based cryptocurrencies have similar aspirations. But Fantom can run smart contracts. Nano cannot and IOTA is just developing a smart contract platform.
Fantom does have one serious DAG competitor — Hedera. But Hedera is permissioned, whereas Fantom is not.
Some other pluses:
1. Fantom has completed its OPERA core layer development.
2. It has launched a beta Virtual Machine and a Testnet.
3. It’s listed on Binance.
4. Its Mainnet launch is coming in the third quarter of this year.
5. Its price recovered nicely from a low of 0.8 cents to 4 cents, thanks mostly to its Binance listing.
6. But it’s still trading a bit below its ICO price, another major bargain.
All very positive! Just bear in mind that Fantom also has two challenges:
• Fantom’s biggest competitor is Hedera Hashgraph. It raised $100 million compared to Fantom’s $40 million. And it’s ahead of Fantom in terms of development. Still, Hedera could be limited in that it’s run by a group of companies and the technology is patented. So if Fantom can adhere to its Q3 Mainnet launch date, it will be one of a kind in the crypto world.
• DAG-based Distributed Ledger Technology is still largely experimental. With the launch of Fantom’s Mainnet, we will finally see if it can live up to its grand promises of scalability and decentralization.
Stay tuned! As the new crypto bull market heats up, coins like these could appreciate rapidly. And I’ll review more at the next opportunity.
Dr. Bruce Ng is a respected educator in the field of Distributed Ledger Technology (DLT) and has been a lead crypto-tech analyst for Weiss Cryptocurrency Ratings since shortly after their launch. He combines the strict discipline of a Ph.D. in physics, robust experience as a software developer, and deep knowledge of blockchain. The result is uniquely scientific and 100% objective reviews of individual coins and the space as a whole.
Image Sourced by Pixabay
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. |
The Zacks Analyst Blog Highlights: Apple, Comcast, Morgan Stanley, Micron and Ford
For Immediate Release
Chicago, IL –June 28, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Apple AAPL, Comcast CMCSA, Morgan Stanley MS, Micron MU and Ford F.
Here are highlights from Thursday’s Analyst Blog:
Top Stock Reports for Apple, Comcast and Morgan Stanley
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Apple, Comcast and Morgan Stanley. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can seeall oftoday’s research reports here >>>
Apple’s shares have outperformed the broader S&P 500 index on a year-to-date basis (+26.6% vs. +14.9%). The Zacks analyst thinks that the recent WWDC event demonstrated the company’s continued focus on boosting the Services business through cutting-edge software.
Apple unveiled a plethora of software updates and also showcased the new Mac Pro and Pro XDR 6K display. The recent acquisition of Drive.ai adds engineering talent that will provide a boost to Apple’s self-driving efforts. Nevertheless, weak iPhone demand, particularly in China and emerging economies, is a headwind. Moreover, the ongoing U.S.-China trade war doesn’t bode well for the company.
Further, legal woes have increased due to lawsuit from customers related to App Store charges. The company has also been accused of unfair practices by Spotify. These are significant headwinds for investors, at least in the near term.
(You canread the full research report on Apple here >>>).
Shares of Outperform-ratedComcasthave outperformed the Zacks Cable Television industry in the past year, gaining +29% vs. +21.6%. The Zacks analyst thinks Comcast is benefiting from solid growth in the number of residential high-speed Internet customers.
Further, expanding Wi-Fi coverage and innovative xFi control features are improving customer experience. Moreover, the company’s Xfinity Mobile is now used by more than one million customers. The company’s recent plan to sell Apple Watch 4 and iPads with LTE to Xfinity Mobile customers is expected to drive its user base.
Additionally, the Sky acquisition has expanded Comcast’s international reach. Sky’s content strength is a major growth driver. Meanwhile, estimates have been going up ahead of the company’s second-quarter earnings release. The company has recorded positive earnings surprises in last few quarters.
(You canread the full research report on Comcast here >>>).
Morgan Stanley’s shares have gained +9.2% over the past six months, outperforming the Zacks Investment Banking industry, which has increased +6% over the same period. The company has an impressive earnings surprise history, having surpassed expectations in three of the trailing four quarters.
The Zacks analyst thinks the acquisition of Solium Capital is in sync with the company’s efforts to further strengthen its wealth management business. Its focus on its corporate lending unit, steady loan growth, higher interest rates and normalized levels of trading activities will likely aid revenue growth. Further, its steady capital deployment activities indicate a strong balance sheet position (indicated by stress test clearance).
However, slowdown in debt originations will likely hinder underwriting fee income growth and hurt the company’s investment banking performance. Further, elevated operating expenses are likely to hurt profits.
(You canread the full research report on Morgan Stanley here >>>).
Other noteworthy reports we are featuring today include Micron and Ford.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFord Motor Company (F) : Free Stock Analysis ReportComcast Corporation (CMCSA) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportMorgan Stanley (MS) : Free Stock Analysis ReportMicron Technology, Inc. (MU) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Gold Versus Bitcoin: Who Comes Out on Top?
This article was originally published onETFTrends.com.
Leading cryptocurrency Bitcoin, dubbed "digital gold," is having astronomical gains this year, but the precious metal itself has been maintaining its status as a go-to safe haven with its latest price increases as well--who comes out on top?
Bitcoin recently broke through the $13,000 price barrier, rising to its highest level in 17 months on Wednesday. The heavy volume is helping Bitcoin rally to almost 60 percent in June alone.
“While this rise in volume has come from increased activity among our usual buyer base of hedge funds and family offices, an interesting new buyer group has emerged for us - endowments of private schools. This new group helps highlight how Bitcoin and crypto adoption is spreading,”saidMichael Moro, CEO of digital currency trading platform Genesis Global Trading.
Helping to spur interest in Bitcoin is Facebook's digital currency project. This news is setting the cryptocurrency space abuzz with optimism as Bitcoin reached a high of $20,000 near the end of 2017 and fell over 70 percent since, but is climbing back to prominence again following this news.
A year ago, the plan for Facebook to roll out its own form of cryptocurrency was set in motion when the company appointed former PayPal executive David Marcus to begin exploring the opportunity. Since then, rumors swirled that Facebook was developing its own digital currency that would allow its users to store, trade, and exchange for regular currency via apps like Messenger and WhatsApp.
Gold's Golden Hour
With the central bank poised to cut rates later this year after remaining steady through the first half of 2019, gold has made a move past the $1,400 price level.
“In line with our expectations, the Fed signaled a dovish turn and a temporary end of the tightening cycle. This pushed the dollar and U.S. real rates sharply lower … While the 10-year US TIPS yield dropped to its lowest level since November 2016 at 0.27%, the DXY dropped to its lowest since March 2019 at 96.63,” Orchid Research said ina Seeking Alpha poston Wednesday.
At its height, cryptocurrency was viewed as "digital gold," but actual gold bulls can look to ETFs like theSPDR Gold Shares (GLD) andSPDR Gold MiniShares (GLDM) , while short-term traders can also play the gold market through miners via theVanEck Vectors Gold Miners (GDX) ,Direxion Daily Jr Gold Miners Bull 3X ETF (JNUG)and theDirexion Daily Gold Miners Bull 3X ETF (NUGT).
The recent trade war activity may have burned an image of volatility in investors’ minds that could drive their decisions with their portfolios for the rest 2019. As far as being a predictor of what may happen in the global economy, commodities like gold might actually be a more reliable crystal ball.
For investors looking for commodity ETFs as a broad-based play as opposed to just gold, theAberdeen Standard Bloomberg All Commodity Strategy K-1 Free ETF (BCI) could be a prime alternative.
BCi seeks to provide a total return designed to exceed the performance of the Bloomberg Commodity IndexSM, which is calculated on an excess return basis—-the first of its kind since its inception in the first quarter of 2017. BCI is actively managed and seeks to provide a total return designed to exceed the performance of the index.
With BCI offered at 25 basis points, it also offers a cost-effective solution to providing investors with exposure to commodities. Additionally, there are no K-1 tax documents issued, which is a requirement for investments in partnership interests.
For more trends in the ETF space, visitETF Trends.
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Voya or Primerica: Which Life Insurer is Better Placed?
The Life insurance industry has performed well so far this year driven by improving unemployment level, growth in aging population and adoption of technology in daily operations.The industry has gained 17.4% year to date, outperforming the Zacks S&P 500 composite’s increase of 14.9% and the Finance sector’s increase of 9.5%. Also, the life insurance industry is ranked #69 and is housed within the top 27% of the Zacks Industry Rank for 255 plus industries.
The industry’s price to book value multiple of 1.76 is much lower than the Zacks S&P 500 composite’s reading of 4.01. Given the growth prospects and undervaluation, this space offers attractive investment opportunities.Here we focus on two life insurers, namely Voya Financial Inc. VOYA and Primerica, Inc. PRI.While Voya operates as a retirement, investment, and employee benefits company in the United States, Primerica provides financial products to middle income households in the United States and Canada. Both these stocks carry a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Factors Favoring the IndustryThe Fed has kept interest rate unchanged within the target range of 2.25% to 2.5%, which is still higher than the near-zero level during the financial crisis. Life insurers invest a big chunk of the premiums so that they have enough funds at the time of claims payment or upon maturity. Thus, a better rate environment lends support to generate funds.We believe a strong labor market, as evident from lower unemployment rate and rising wages, boosts policy sales even at higher premiums. Fed officials expect unemployment rate to be 3.5% and GDP to be 2.1% for 2019. A strong labor market drives policy sales even at higher premiums. Also, growth in aging population is driving demand for retirement benefit products.Life insurers have been gradually adopting technology in their daily operations. Carriers have started selling policies online that appeal to the tech-savvy population. At the same time, the use of real time data is making premium calculation easier and reducing risk. The increased usage of health and fitness app over a period of time is aiding the cause. Moreover, adoption of technologies like artificial intelligence (AI), robotic process automation (RPA), cognitive intelligence (CI) or blockchain should help life insurers curb operational costs.To insulate themselves from low rate environment, life insurers have lowered exposure to interest-sensitive product lines. They have revamped their portfolios by redesigning and re-pricing products with the potential to help in writing higher premiums. These insurers have also effectively reduced their underwriting expenses with a view to support bottom-line growth.Coming back to Voya and Primerica, let’s now see how these life insurers have fared in terms of some of the key metrics.Price PerformanceVoya has outperformed both Primerica and the industry year to date. While shares of Voya have rallied 35.2%, Primerica has surged 24.2%.
Return on Equity (ROE)Primerica with a return on equity of 22.9% exceeded the industry average of 8.3% as well as Voya’s ROE of 8.5%.
ValuationPrice to book value is the best multiple used for valuing insurers. Compared with the life insurance industry’s P/B ratio of 1.76, Voya is undervalued with a reading of 0.82 while Primerica shares are expensive with a P/B ratio of 1.76.
Dividend YieldPrimerica’s dividend yield is 1.1%, while Voya’s is 0.1%. Both are below the industry’s average of 1.56%. Primerica thus has an edge over Voya.
Debt-to-EquityThough Voya’s debt-to-equity ratio of 52.2 is higher than the industry average of 14.5, it is lower than Primerica’s ratio of 96.4. Hence, with lower leverage Voya scores better than Primerica.
Earnings Surprise HistoryPrimerica’s earnings surpassed the Zacks Consensus Estimate in the last four quarters with the average being 4.62%. Voya outpaced expectations in three of the trailing four quarters with average positive surprise being 5.03%.Primerica has an edge in this respect.Growth ProjectionsFor Primerica, the Zacks Consensus Estimate for earnings per share is $8.13 for 2019, indicating a year-over-year increase of 10.9%. For 2020, the Zacks Consensus Estimate for earnings per share is pegged at $9.05, indicating a year-over-year rise of 11.4%.For Voya, the Zacks Consensus Estimate for earnings per share is $5.50 for 2019, implying a year-over-year increase of 36.1%. For 2020, the Zacks Consensus Estimate for earnings per share is pegged at $6.34, indicating a year-over-year rise of 15.3%.Voya scores better than Primerica.To ConcludeOur comparative analysis shows Voya has an edge over Primerica with respect to price performance, leverage and valuation. Meanwhile, Primerica scores higher in terms of return on equity, dividend yield and growth projections.Today's Best Stocks from ZacksWould you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPrimerica, Inc. (PRI) : Free Stock Analysis ReportVoya Financial, Inc. (VOYA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Philadelphia refinery workers plan for uncertain future after jobs go up in smoke
By Jarrett Renshaw and Laila Kearney PHILADELPHIA (Reuters) - At Erin Pub, a classic Irish neighborhood bar in Norwood, Pennsylvania, dozens of Philadelphia Energy Solutions Inc's unionized employees crammed around the bar on Wednesday night, toasting to their friendships after learning that day of plans to close the refinery permanently after a devastating fire less than a week earlier. They were openly worried about what the job loss would mean for their lives and their families. The refinery, the biggest on the East Coast, employed more than 1,000 people, including more than 600 unionized workers. Most were told their jobs would end by mid July, while others would stay for two weeks beyond that. "I have a kid I’m about to put through college, and I have no idea how I’m going to do that now,” said one worker, who had been with the refinery for more than a decade and who asked not to be identified. The workers, both union and non-union, are not expected to get severance packages or health benefits, dumping them into a shrinking energy workforce without a parachute. In the months leading up the closure, the company saved cash by laying off a number of salaried employees, all whom received standard severance packages, two sources familiar with the company told Reuters. “We have some people who have spent their whole careers in the refinery. It’s not just a workplace, it’s a culture,” said Ryan O'Callaghan, president of the local United Steelworkers union and an operator at the refinery. Many had been through the plant's ups and downs, from good years earlier this decade to a bankruptcy process last year, but the fire has left them jobless in a region that only employs about 2,000 workers in the refining industry. “These jobs are hard to duplicate. It’s not like there are a lot of refineries around here anymore, so it’s going to be a challenge,” said Steve Bussone, 54, a union lab technician with 23 years at the refinery. Story continues He was hoping to retire in about ten years, but the closure may delay those plans. He was not preparing to start over at his age and said the potential lack of a severance package makes the whole process that more daunting. The June 21 fire started in a butane vat, and was followed by a series of explosions that ripped through the 335,000 barrel-per-day plant, the oldest on the East Coast, which destroyed at least one key unit and threw fragments onto nearby highways. Just four days later, Chief Executive Mark Smith said the plant would close indefinitely. The company is planning a sale, but that process, and a subsequent reopening, is not likely to happen for years, if at all. "We cannot commit that (a restart) will occur," Smith said in a letter to the union. "As such, all layoffs are expected to be permanent." For some, Wednesday's official announcement was a confirmation of what they knew was inevitable after the massive fire. The plant banked big profits in 2013 and 2014 as it used trains to bring crude oil in from the burgeoning shale business in North Dakota. However, after a 40-year-ban on crude oil exports was ended in 2015, oil drillers found it more profitable to ship crude to U.S. Gulf-area refiners by pipeline and to export destinations. Since then, the refinery has struggled, even after reducing its credit obligations through a 2018 bankruptcy process and having slashed worker benefits and pensions. Its cash balance had dwindled by 40% to $87.7 million in just three months, leaving it in a precarious position before the fire. Still, the decision came as a bitter blow, as previous owner Carlyle Group <CG.O> paid itself out nearly $600 million in dividend-style distributions, many taken through loans against the plant's assets, since taking over the refinery in 2012. Rich Francis, 28, a gasoline trader at the company, was one of the 150 or so non-union employees fired on Wednesday as the company seeks to shut the refinery. Like the others, Francis got no severance package and his family’s health benefits run out at the end of July - which will hit hard, as his wife recently had a kidney transplant that requires expensive medication daily. “They have given me so little runway here. It’s real disappointing in how the company handled this,” Francis said. The union president said the union is expecting to negotiate severance packages and benefits for union members - but also pushing to rebuild the unit so the refinery can keep running. “That’s what we’re fighting for,” said O'Callaghan, who started with PES in 2007. “The entire refinery runs without all units on all the time.” Refinery workers filed a class action lawsuit against PES on Friday seeking backpay and benefits on claims they were not given legally required 60-day notice of the layoffs. Law firm Chimicles Schwartz Kriner & Donaldson-Smith LLP is seeking to represent union and non-union workers. (Reporting by Jarrett Renshaw and Laila Kearney; additional reporting by Stephanie Kelly; writing by David Gaffen; Editing by Marguerita Choy) |
Sarepta surges after Pfizer gene therapy data raises safety concerns
By Manas Mishra and Michael Erman
(Reuters) - Shares of Sarepta Therapeutics Inc surged 15% on Friday after some safety concerns were raised in a small, early-stage study of a competing gene therapy for a rare muscle-wasting disorder from Pfizer Inc.
Sarepta reported promising data from its study last year and is in a race with Pfizer and Solid Biosciences Inc to first market a gene therapy for the genetic degenerative disorder that affects one in 3,500 to 5,000 males.
Shares of Pfizer were marginally up in midday trading, while Sarepta shares were up 15% and Solid Biosciences was up about 10%.
Baird analyst Brian Skorney said Pfizer fell way short on both safety and efficacy, making Sarepta' position in the space even stronger.
Sarepta already has a treatment, Exondys 51, in the market for some form of the disease.
People with the condition lack the protein dystrophin needed to keep muscle cells intact. That can lead to life-threatening damage to the heart, and over time, death, often at a young age.
Pfizer's six-patient study tested two different dosages of the gene therapy in boys in the age group of 6 to 12. Two months after receiving the one-time therapy, mini-dystrophin expression levels ranged from 10% to 60% of normal.
Skorney said all measures of expression looked worse. "More importantly, it just did not look safe."
Two Duchenne muscular dystrophy (DMD) patients in the trial experienced side effects that landed them in the hospital, the company said.
Gene therapies use engineered viruses to carry healthy genetic material into a person's cells to replace faulty or mutated genes that cause a disease or condition.
The higher tested dose appeared to be more effective, according to data presented by Pfizer at the Parent Project Muscular Dystrophy conference in Orlando, Florida.
The company said future trials will use the higher dose, which had triple the concentration of virus with genetic material. The U.S. drugmaker said it also may test an intermediate dose.
Both of the boys who required hospital treatment had received the higher dose.
One had developed a kidney injury. He was hospitalized for 11 days and received two doses of Alexion's Soliris, but left the hospital with normal kidney function.
The other suffered nausea and vomiting after the treatment and spent two days in a hospital.
The company said no additional participants will be dosed in accordance with the original study design until safety monitoring has obtained approvals.
(Reporting by Michael Erman in New York and Manas Mishra in Bengaluru; Editing by Bill Berkrot and Maju Samuel) |
Companies to Watch: Goldman slashes rate, hacker warning from Medtronic, Mattel issues recall
Here are the companies Yahoo Finance is watching today.
Goldman Sachs(GS) is getting ahead of the Fed when it comes to cutting interest rates. It's shaving the rate it pays on its high yield Marcus savings account to 2.15%. It was previously 2.25%. Goldman didn't explain the move, butAlly Financial(ALLY) made a similar adjustment earlier this week saying rates are quote "on the downswing."
A hacker warning for some insulin pumps. The FDA is telling patients who use certainMedtronic(MDT) insulin pumps, that a hacker could potentially break in to change the settings. However, the company insists the danger is small, and there have been no confirmed cases. They say patients should pay attention to any alarms or alerts they get from the pumps.
A big recall atMattel's(MAT) Fisher Price. It's recalling 71,000 inclined-sleeper accessories for the Ultra-Light Day and Night Play Yard. While there have been no reported injuries or deaths with these models, the American Academy of Pediatrics advises against using inclined sleepers - which allows babies to sleep at an approximately 30-degree angle. Back in April, Fisher Price recalled 4.7 million Rock 'n' Play sleepers for similar concerns.
Facebook(FB) andGoogle(GOOG) are expected to face new regulators in Australia for their news and Ads. This comes after the Australian Competition and Consumer Commission looked at the impact Facebook and Google's sites have on competition in media and advertising. The commission found that for every $100 spent on digital advertising in Australia, $47 goes to Google and $21 goes to Facebook.
SpaceXis reportedly after more than $300 million in fresh funding, according to reports. Part of the investment in SpaceX is from the Ontario Teachers’ Pension Plan, which has $191.1 billion in assets under management. The new capital would bring SpaceX's total fundraising for the year to $1.33 billion. |
The Family Behind Lego Sold Legoland In 2005. Now They're Buying It Back
Something isawesomein the state of Denmark. The billionaire Danish family that owns Lego is taking back ownership of Legoland, 14 years after selling off a large stake in a time of financial crisis.
On Friday, Merlin Entertaimentsaccepted an offerfrom Berkeley Bidco Ltd., an entity owned byKIRKBI Invests A/S, Blackstone Core Equity Advisors LLC and the Canada Pension Plan Investment Board, to buy the company’s entire operations for £6 billion ($7.6 billion), including the company’s £1.2 billion in debt. KIRKBI is the family investment vehicle for the Kirk Kristiansen family behind the plastic, buildable bricks. It owns 75% of the Lego Group, and had already owned about 30% of Merlin Entertainments. Upon completion of the takeover, expected by the end of 2019, Merlin will be taken private.
“We are committed to ensuring Legoland and the other activities in Merlin reach their full potential, which we believe is best pursued under private ownership, in order to deliver fantastic experiences to visitors of all ages around the world,” KIRKBI CEO Søren Thorup Sørensen said in a statement.
A division of Blackstone had acquired Merlin, based in Poole, England, for £102.5 million inMay 2005, kicking off a period of acquisitions for the entertainment company. The Berkeley Bidco offer, which pegs Merlin’s value today at £4.7 billion, comes just a month after investor ValueAct Capitalpublished an open letterrecommending that it go private following “years of continued share price underperformance.”
The deal won’t just affect Legoland: Merlin also owns other major attractions and parks including Madame Tussaud’s, Peppa Pig World of Play, and theCoca-ColaLondon Eye.
The Lego Group was founded in 1932 by Ole Kirk Kristiansen and is now owned by grandson Kjeld Kirk Kristiansen. The first Legoland in Billund, Denmark, opened on June 7,1968, attracting 625,000 visitors in its first season. There are now eight Legoland parks and 18 Legoland discovery centers in nine countries.
But Lego sold its theme parks business to Merlin Entertainments for about £250 million inJuly 2005while in crisis.At the time, then-CEO Jørgen Vig Knudstorp said selling off Legoland would solve the company’s short-term debt crisis and enable it to focus on the longer-term problem of falling sales. Legoavoided bankruptcyby doubling down on its core products: the bricks.
Now the company is back on top. Lego was the world’s largest toy maker bysales in 2018, with sales up 4% to 36.4 billion Danish kroner ($5.5 billion) and profits up by 4% to 10.8 billion Danish kroner. CompetitorsMattelandHasbro, by comparison, booked $4.5 billion and and $4.6 billion in sales in 2018, respectively.
Now that Lego has righted its ship—and now that the global “experience economy” is booming—it was time to bring back Legoland home. |
Top Sectors of 1H & Their Top Stocks
As we are almost near the halfway mark to the year, a flashback of these six months sounds like a good idea. The first quarter of 2019 was all about a patient Fed, cues of development in the U.S.-China trade relation, the longest government shutdown in the United States and a rally in marijuana and oil investments. However, the second quarter was fraught with resurfacing trade tensions, slight slump in oil prices and flaring geopolitical tensions in the Middle East. Overall, the Wall Street has been upbeat in the first half. SPDR S&P 500 ETF SPY was up 18.6% in the past six months (as of Jun 27, 2019), thanks to rising bets on Fed rate cuts. Against this backdrop, we highlight top-performing sectors of the first half and some top-performing stocks from each sector. The stocks have room to run as these are top-rated. Technology The space has been red hot this year with Technology Select Sector SPDR Fund XLK returning 28.6% in the past six months. The improvement in U.S.-China trade ties in the first quarter, a dovish Fed throughout the first half, moderate strength in the greenback and emergence of cutting-edge technology have been driving the sector. Snap Inc. SNAP – Up 166.7% The Zacks Rank #2 (Buy) provides technology and social media services. The company's principal product Snapchat is a camera application that helps people communicate through short videos and images. The stock comes from a top-ranked Zacks industry (top 36%). Consumer Discretionary Consumer stocks have been at a sweet spot this year. Consumer Discretionary Select Sector SPDR Fund XLY is up 22.8% in the past six months (as of Jun 27, 2019). Subdued inflation, solid labor market, decent wage gains and low interest rates are allowing consumers to spend on discretionary items. Moreover, from a year-to-date look, stock market did well this year, which resulted in some wealth effect and propelled consumer stocks. Roku Inc. ROKU – Up 201.2% The Zacks Rank #1 (Strong Buy) Roku is involved in creating streaming platform for delivering entertainment to the television. It belongs to a top-ranked Zacks industry (top 40%). Story continues Industrials Notably, Industrial Select Sector SPDR Fund XLI has added 22.5% in the six-month period despite on-off U.S.-China trade tensions. An industrial boom is likely in the U.S. economy due to the narrowing wage differential between developed and emerging economies, moderate strengthening of the U.S. dollar against a basket of emerging currencies and President Trump’s efforts for bringing back manufacturing jobs to America. CIRCOR International Inc. CIR – Up 113.9% The Zacks Rank #1 company designs, manufactures and markets flow control solutions and other highly engineered products and sub-systems for markets, including oil & gas, aerospace, power, process and industrial solutions. It belongs to a top-ranked Zacks industry (top 19%). Real Estate Backdrop of the past six months was perfect for real estate outperformance. Given concerns over U.S.-Sino trade tensions, heightened global growth worries and a clash between the Democrats and Republicans over the Mexico border wall funding, investors’ need for a safe product is understandable from the start of the year. Then there was heightened geopolitical crisis related to Iran, all of which brought down treasury yields and led to a safe-haven rally. This bodes well for real estate stocks as this group performs well in a low-rate environment. These produce high yields and are good pick when the economy is at a decent shape. Innovative Industrial Properties Inc. IIPR – Up 117.9% The Zacks Rank #2 company is a real estate investment trust. It focuses on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for medical-use cannabis facilities. It hails from a top-ranked Zacks industry (top 32%). Materials The materials sector, susceptible to global economic growth expectations, has also come up with a stellar performance. Low rates seem to be the key driver while some positive phases in the US-China trade relation helped boost the sector. This is because China is a major consumer of materials. Materials Select Sector SPDR Fund XLB has advanced 18.5% this year. Flexible Solutions International Inc. FSI – Up 204.4% The Zacks Rank #1 company is an environmental technology company focusing on the research, development and manufacturing of products that save water and energy. It comes from a top-ranked Zacks industry (top 40%). Today's Best Stocks from Zacks Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year. See their latest picks free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Snap Inc. (SNAP) : Free Stock Analysis Report Flexible Solutions International Inc. (FSI) : Free Stock Analysis Report Materials Select Sector SPDR Fund (XLB): ETF Research Reports Industrial Select Sector SPDR Fund (XLI): ETF Research Reports Technology Select Sector SPDR Fund (XLK): ETF Research Reports Consumer Discretionary Select Sector SPDR Fund (XLY): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports CIRCOR International, Inc. (CIR) : Free Stock Analysis Report Innovative Industrial Properties, Inc. (IIPR) : Free Stock Analysis Report Roku, Inc. (ROKU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research |
Miranda Lambert Shares Rare Photo with Husband Brendan McLoughlin While in New York City
Miranda Lambert is loved-up in New York. The country star shared a rare photo with her husband, NYPD police officer Brendan McLoughlin, on Thursday night. The newlyweds snapped a picture while enjoying the sunset over the New York City skyline. “💙NYPDA,” Lambert, 35, captioned the sweet photo on Instagram, tagging the NYPD as well. She shared the same photo on her Instagram Stories, after posting a video of the sunset and the beautiful view they had of the city. RELATED: Miranda Lambert and Brendan McLoughlin Enjoy NYC 4 Months After Announcing Secret Marriage View this post on Instagram 💙NYPDA A post shared by Miranda Lambert (@mirandalambert) on Jun 27, 2019 at 9:34pm PDT The sunset snap is one of two photos Lambert has shared of McLoughlin, 27, since announcing their whirlwind romance and secret marriage in February. The couple has kept their relationship relatively out of the spotlight and off social media, though they made their red carpet debut at the 2019 ACM Awards in Las Vegas in April and have also been spotted strolling around New York . Earlier this month, Lambert opened up to Extra about her new marriage, and how the couple has managed to successfully blend their lives (as Lambert is based in Nashville while McLoughlin is in the NYPD and has a 7-month-old son from a previous relationship ). John Shearer/ACMA2019/Getty “We have the best of both worlds,” she told the outlet. “We spend time in New York, we get to see our adorable nugget, then we get to come back to the farm and have the quiet life. I’m enjoying the balance.” RELATED VIDEO: Miranda Lambert Talks Record Breaking ACM Wins: ‘I Just Always Try to Live in the Moment’ Lambert and McLoughlin wed in a secret ceremony earlier this year, the “Tin Man” singer revealed to PEOPLE in February — after they met in New York last November when Lambert and her band, the Pistol Annies, performed on Good Morning America . The union with McLoughlin is Lambert’s second marriage. She was previously married to fellow country star Blake Shelton , before they split in 2015 — and subsequently dated the singers Anderson East and Evan Felker before meeting McLoughlin. |
The Zacks Analyst Blog Highlights: Universal Display, Bruker, Match, j2 and Ciena
For Immediate Release
Chicago, IL –June 28, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Universal Display OLED, Bruker Corporation BRKR, Match Group, Inc. MTCH, j2 Global Inc. JCOM and Ciena Corporation CIEN.
Here are highlights from Thursday’s Analyst Blog:
5 Top Tech Gainers of 1stHalf 2019
Even as the S&P 500 suffered its fourth successive daily loss on Jun 26, tech stocks surged higher. The Nasdaq emerged as the only broad benchmark to finish in the green, after Micron Technology fueled a surge in semiconductor stocks.
The surge in tech stocks is notable since it occurred on a day when investors expressed their skepticism over a trade deal, leading to a decline in the broader indexes. In fact, the Technology Select Sector SPDR Fund (XLK) is the leading performer among the S&P 500’s 11 sectors year to date. It maintains a similar dominance over the last three months.
Despite the fallout of the trade war and global economic sluggishness, prospects of technology stocks have not been dimmed this year. This is why it makes sense to add them to your portfolio.
Big Tech Remains Big Wall Street Story
On Wednesday, the Nasdaq Composite index gained 0.3% on a surge in semiconductor stocks. The VanEck Vectors Semiconductor ETF (SMH) advanced nearly 3% after shares of Micron surged 13.3%, following the release of better-than-expected guidance. Shares of NVIDIA gained 5.1% while shares of ON Semiconductor increased by 4.2%.
The day’s events underlined the continuing dominance of tech stocks this year. In fact, SMH is up 24.4% year to date. The broader Vanguard Information Technology Index Fund ETF (VGT) has gained 25.6% over the same period.
Moreover, the Technology Select Sector SPDR Fund (XLK) has gained 25.6% year to date, easily outperforming the S&P 500’s 16.2% increase. XLK is the leading sectoral performer over this period as well as over the last three months, during which it has gained 6.7%, nearly twice the S&P 500’s 3.5% increase.
Trade Deal to Boost Tech’s Prospects
Tech seems to be surging despite uncertainty over a U.S.-China trade deal. But an agreement between the two rivals will only boost the sector higher. Most tech behemoths conduct a large amount of business overseas, leading to a massive buildup in overseas revenues. If the Trump administration successfully defuses tensions with China, they stand to gain substantially.
Comments made on Jun 26 by Treasury Secretary Steven Mnuchin suggest that a near-term deal is still a possibility. Speaking to CNBC in Bahrain, Mnuchin said: “We were about 90% of the way there (with a deal) and I think there’s a path to complete this.” Mnuchin thinks significant progress can be made by presidents Trump and Xi at the upcoming meeting of G-20 countries.
Trump continued to adopt an aggressive tone on trade issues while speaking to Fox Business on Wednesday morning. He said he would be pleased to collect tariffs in case a deal with China was not concluded. At the same time, he did say that an agreement with China was “absolutely possible,” claiming that Chinese leaders “want to make a deal more than I do.”
Our Choices
Tech stocks have remained a dominant force in U.S. markets for most of the year. Trade tensions have failed to dent their prospects. With the probability of a near-term trade deal rising, they stand to move even higher over the rest of 2019.
Tech stocks which have notched up searing year-to-date gains will make great additions to your portfolio. We have narrowed down our search based on a Zacks Rank #1 (Strong Buy) and other relevant metrics. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Universal Displayis a leading developer of technology and intellectual property (IP) for the Organic Light Emitting Diodes (OLED) market.
Universal Display’s projected growth for the current year is 97%. Its earnings estimate for the current year has improved by 20.2% over the past 60 days. The stock has gained 95.1% year to date.
Bruker Corporationdesigns and manufactures proprietary life science and materials research systems, and associated products.
Bruker’s projected growth for the current year is 15.7%. Its earnings estimate for the current year has improved by 0.6% over the past 30 days. The stock has gained 62.1% year to date.
Match Group, Inc.is the world’s foremost provider of dating products and operates a portfolio of more than 45 brands.
Match Group’s projected growth for the current year is 25.7%. Its earnings estimate for the current year has improved by 17.9% over the past 60 days. The stock has gained 55.9% year to date.
j2 Global Inc.provides Internet services. It reports primarily in two business segments: Cloud Services and Digital Media.
j2 Global’s projected growth for the current year is 11%. Its earnings estimate for the current year has improved by 4% over the past 60 days. The stock has gained 23.7% year to date.
Ciena Corporationis a leading provider of optical networking equipment, software and services.
Ciena’s projected growth for the current year is 43.2%. Its earnings estimate for the current year has improved by 9.9% over the last 30 days. The stock has gained 22.9% year to date.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119%and +164%in as little as 1 month. The stocks in this report could perform even better.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportMatch Group, Inc. (MTCH) : Free Stock Analysis Reportj2 Global, Inc. (JCOM) : Free Stock Analysis ReportUniversal Display Corporation (OLED) : Free Stock Analysis ReportCiena Corporation (CIEN) : Free Stock Analysis ReportBruker Corporation (BRKR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
5 Best Fixed Income Emerging Market ETFs of 2019
This article was originally published onETFTrends.com.
Emerging marketshave rallied sharply after the the broad market pullback, and while many investors look to equities when considering ETFs, fixed-income investors should also consider opportunities in developing market debt and related exchange traded funds.
The rally in emerging market debt has pulled down yields significantly as bond prices increased, with the yield spreads between emerging market debt and U.S. investment-grade bonds tightening as a result. Nevertheless, the BlackRock strategists argued that emerging market debt yields remain attractive on an absolute and relative basis over the long-term.
Here are the 5 Best Fixed Income Emerging Market ETFs of this year, as of June 27, 2019:
1.The Invesco Emerging Markets Sovereign Debt ETF (PCY)is based on the DBIQ Emerging Market USD Liquid Balanced Index. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index (the "Index"). The Index tracks the potential returns of a theoretical portfolio of liquid emerging markets US dollar-denominated government bonds issued by more than 20 emerging-market countries. The countries in the Index are selected annually pursuant to a proprietary index methodology. The Fund and the Index are rebalanced and reconstituted quarterly and are up 12.28% this year with an expense ratio of 0.50%.
2.The JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB)is designed to provide emerging markets dollar bond exposure with more stable credit exposures through time. The fund tracks the JPMorgan Emerging Markets Risk-Aware Bond Index which is comprised of U.S. dollar-denominated sovereign and quasi-sovereign emerging markets debt securities. JPMB utilizes a rules-based, proprietary methodology that filters for liquidity and country risk and allocates risk across credit rating. The ETF employs optimization techniques to minimize tracking error to the underlying index. JPMB is currently up 10.83% YTD and has an expense ratio of 0.64%.
3.The iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB)seeks to track the investment results of an index composed of U.S. dollar-denominated, emerging market bonds. The fund offers exposure to U.S. dollar-denominated government bonds issued by emerging market countries, and provides access the sovereign debt of 30+ emerging market countries in a single fund. EMB is currently up 10.67% YTD and has an expense ratio of 0.39%.
4.TheiShares Emerging Markets High Yield Bond ETF (EMHY)seeks to track the investment results of an index composed of U.S. dollar-denominated, emerging market high yield sovereign and corporate bonds. The fund offers exposure to U.S. dollar-denominated high yield bonds issued by governments and corporations in emerging market countries. The fund offers access to 200+ emerging market high yield bonds in a single fund. EMHY is currently up 9.59% YTD and has an expense ratio of 0.50%.
5. TheVanguard Emerging Markets Government Bond ETF (VWOB)attempts to track the performance of Bloomberg Barclays USD Emerging Markets Government RIC Capped Index. The ETF provides a convenient way to get additional exposure to emerging market government bonds. The fund maintains a dollar-weighted average maturity consistent with that of the index, while using a passively managed approach, using index sampling. VWOB is currently up 9.41% YTD and has an expense ratio of 0.30%.
Emerging Markets Relative Value ETF Plays
For investors looking for the continued upside in emerging market assets, whether driven by a weakening USD or continued developments around trade, theDirexion MSCI Emerging Over Developed Markets ETF (RWED) offers them the ability to benefit not only from emerging markets potentially performing well, but from emerging markets outperforming developed markets.
Conversely, if investors believe that resolutions to the big issues impacting sentiment today are in motion, theDirexion MSCI Developed Over Emerging Markets ETF (RWDE) provides a means to not only see developed markets perform well, but a way to access a convergence/catch-up in performance of DM relative to EM, a spread that has clearly widened over the past 6 months.
For more investing trends, visitETFtrends.com.
For more investing trends, visit ETFtrends.com.
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This Dell UltraSharp curved monitor is $250 off and includes a $100 Dell card
TL;DR:The stunningDell UltraSharp 34-inch curved monitoris $250 off — now just $699.99 — and comes with a $100 Dell promo gift card.
Adding a newmonitorto your workspace can seriously boost your productivity. If you work on alaptop, a second screen gives you more space to spread out your projects and organize open windows. For optimal screen usage, you might want to consider a curved monitor with a panoramic view.
TheDell UltraSharp curved ultrawide monitorhas those features and ison sale for $250 offright now. Plus, you’ll get a $100 Dell promo gift card with your purchase.
This monitor was voted one of PCMag’sbest products of 2015, so it’s been around for a few years and racked up some awards along the way.Read more...
More aboutComputers,Dell,Monitors,Mashable Shopping, andShopping Solo |
Why Shake Shack is trying to reinvent the chicken nugget
No offense to the king of fast food chicken nuggets, the McDonald’s (MCD) chicken McNugget.
It’s just that Shake Shack CEO Randy Garutti — who has worked in restaurants since he was 13 years old — thinks it’s time for something better. No more weird shaped lightly breaded nuggets (ala the McNugget). More nuggets that look and taste like they came from actual chicken.
“We will keep testing chicken bites, there is a lot to learn,” Garutti said on Yahoo Finance’sThe First Trade.
Officially dubbed Chick’n Bites, Shake Shack’s take on the classic chicken nuggets went national at all locations in February. The company says the nuggets are made from fresh, never frozen antibiotic free chickens and are hand breaded.
“You’re getting add on and you’re getting switch. It’s too early to say how that’s changing our business both on the cost of goods side and on the sales side. What we know for the most part is that people really like them,” Garutti added.
Shake Shack (SHAK) has been taken to task by some fast-food foodies for the high pricing on the nuggets: $4 for a six-piece and $6 for a 10-piece. Garutti told analysts on Shake Shack’s first quarter earnings call that was actually promotional pricing designed to get people trying the product. In March, the company began testing a slightly higher price point for the nuggets, given chicken is a higher cost item.
All in all, a rather well-received new product launch, a mobile ordering push and more aggressive global expansion has investors returning to Shake Shack’s stock. The company’s stock has skyrocketed 55% this year, despite higher hourly wages weighing on profits.
Call it the nugget rally.
Brian Sozzi is an editor-at-large and co-host of ‘The First Trade’ at Yahoo Finance. Follow Brian Sozzi him on Twitter@BrianSozzi
Read the latest financial and business news from Yahoo Finance
• Why Shake Shack CEO is testing a 4-day workweek
• Trump's trade war with China may shock investors this summer
• 2 black swans could come out of nowhere and kill stocks this summer
• Why scrapping Trump's corporate tax cuts could crush businesses
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit. |
Why Crypto Investors Are Paying Insane 2,000% Premiums on Ethereum
According to Charlie Bilello, an investor and a finance researcher, Ethereum isbeing traded with substantial premiumsabove spot value through Grayscale’sEthereum Investment Trust(ETHE).
On June 24, Ethereum traded with a 2,022 percent premium at around $580 per share. Each share of ETHE represents 0.09624748 ETH, less than 10 percent of one Ethereum (ETH).
“Someone bought this last Friday at $580 betting that ethereum would rise, and they were right. Underlying ethereum rose from 27.33 to 30.34, an 11% gain. Only problem was they paid a 2,022% premium & today investors ‘only’ paid a 312% premium, resulting in a 78% loss thus far,” Bilello said.
As of June 28,Ethereum is valued at $305. The underlying assets of ETHE – 9.6 percent of one ether token – would be around $28.87. Instead, on June 24, investors purchased ETHE at $580, investing in the asset at a price of over $5,800.
The premium-related issues in the crypto market are not specific to Ethereum. Investors in theU.S. markethave been purchasing bitcoin with high premiums as well through theBitcoin Investment Trust(GBTC).
On May 29, CCNreportedthat thebitcoin pricesurpassed $11,000 in OTCMarkets through GBTC, demonstrating a premium of over 37 percent following a substantial increase in volume in early May.
Read the full story on CCN.com. |
3 truths about stock market volatility
Ultra-high levels of volatility aren’t exactly caused by economic fundamentals. That’s one of the lessons Bernstein analysts uncovered from examining 119 years (yes, that long) of stock market data.
Here are three takeaways on volatility from Bernstein’s Philipp Carlsson-Szlezak and Paul Swartz:
Extreme volatility levels in October 1929 were similar to October 2008, even though the economy was worse in 1929.
“This suggests that the worst volatility is not made any worse by depression conditions,” they noted. “The worst equity volatility is about banking stability, liquidity, panic, forced selling – not simply the fundamentals of the economy that were that much worse in the Depression era.”
From 1942 to 1965, during which there were multiple wars and President John F. Kennedy was assassinated, average realized volatility was only 11%.
“Geopolitics matters but is given outsized attention when talking about drivers of volatility,” the analysts wrote.
They say a healthy financial system was the driver of low volatility in the stock market.
“The 1942-1965 period benefited from a healthy banking system (less leverage), the Bretton Woods system (stable foreign exchange rate), and a robust elastic investor class,” they noted.
Bernstein next analyzed the “high inflation” era from 1966 to 1994 and found that average realized stock market volatility was low — at only 13%.
Yet, the economy was grappling with high inflation for a large part of this period. Remember the 14% 10-year Treasury yield in the early 1980s?
Once again, a strong financial system drove low volatility.
“The ‘bad macro’ era of the 70s and 80s is offset by a healthier (but weakening – e.g. 1987 [stock market crash]) financial ecosystem,” they noted.
-
Read the latest financial and business news from Yahoo Finance
Scott Gamm is a reporter at Yahoo Finance. Follow him on Twitter@ScottGamm.
More from Scott:
• The earnings picture for 2019 is showing more signs of deterioration
• The next rate cut is unlikely to be caused by weak growth, economist explains
• Why Trump should be worried about the stock market selloff
• What the plunging 10-year Treasury yield says about the economy and stock market
• Why one top strategist is bullish on tech even with lingering trade worries
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit. |
The Zacks Analyst Blog Highlights: ConocoPhillips, Hess, Valero, Marathon Oil and Helix
For Immediate Release
Chicago, IL –June 28, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: ConocoPhillips COP, Hess Corp. HES, Valero Energy VLO, Marathon Oil MRO and Helix Energy Solutions Group, Inc. HLX.
Here are highlights from Thursday’s Analyst Blog:
U.S. Oil Prices Jump, EIA Reports Largest Draw Since 2016
The U.S. Energy Department's inventory release showed that crude stocks slumped nearly 13 million barrels last week in the biggest weekly drawdown since September 2016 as exports hit a record high.
Oil Prices Jump on the News
Following the massive decline, U.S. benchmark crude futures gained as much as 2.7% (or $1.55) to $59.38 per barrel Wednesday – the best settlement in more than a month.
The federal data sparked widespread buying in energy stocks, which pushed the Energy Select Sector SPDR – an assortment of the largest U.S. energy companies – up more than 1.5% Wednesday. Consequently, some of, the biggest gainers of the S&P 500 included energy-related names like ConocoPhillips, Hess Corp., Valero Energy and Marathon Oil.
Meanwhile, gasoline futures shot up 5% to $1.970 a gallon on Philadelphia Energy Solutions’ decision to permanently close its oil refinery in Philadelphia following last week’s devastating fire.
Analysis of the EIA Data
Crude Oil:The federal government’s EIA report revealed that crude inventories plunged by 12.8 million barrels for the week ending Jun 21, the most in nearly three years and more than 4.5 times what energy analysts had expected. Sharply lower imports and jump in exports led to the massive stockpile draw with the world's biggest oil consumer.
Crude exports averaged a record 3.77 million barrels per day last week, up 348,000 barrels per day (bpd) from the previous week. Meanwhile, net imports fell 811,000 bpd.
The past week’s big decline in oil inventories comes as a relief for industry watchers who saw supplies trend mostly higher since mid-March. In fact, prior to this decrease, stockpiles expanded in 9 of the last 13 weeks and were up nearly 43 million barrels (or 10%) during the period.
Adding to the positive sentiment, the latest report also shows that stocks at the Cushing terminal in Oklahoma came down from their highest since December 2017. Inventories at the key delivery hub for U.S. crude futures traded on the New York Mercantile Exchange was down 1.7 million barrels to 51.8 million barrels.
But at 469.6 million barrels, current crude supplies are still 12.7% above the year-ago figure and 5% over the five-year average. The crude supply cover was down from 28.4 days in the previous week to 27.4 days. In the year-ago period, the supply cover was 23.7 days.
Gasoline:Gasoline supplies fell 996,000 barrels for its second successive weekly decline. The drop – slightly below the polled number of 1.1 million barrels – came on account of lower imports of the fuel, which edged down 21,000 bpd. At 232.2 million barrels, the stock of the most widely used petroleum product is now 3.7% below the year-earlier level and at the five-year average range.
Distillate:Distillate fuel supplies (including diesel and heating oil) fell 2.4 million barrels last week, while analysts were looking for an inventory drop of around 1.1 million barrels. Current supplies – at 125.4 million barrels – are 6.8% higher than the year-ago level though stocks remain 7% below than the five-year average.
Refinery Rates:Refinery utilization was up by 0.3% from the prior week to 94.2%.
Want to Own an Energy Stock Now?
In case you are looking for a near-term energy play, Helix Energy Solutions Group, Inc. might be an excellent selection. The specialty services provider to offshore energy companies has a Zacks Rank #1 (Strong Buy).
You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The 2019 Zacks Consensus Estimate for this Houston, TX-based company is 28 cents, representing some 47.4% earnings per share growth over 2018. Next year’s average forecast is 38 cents pointing to another 36.9% growth.
Breakout Biotech Stocks with Triple-Digit Profit Potential
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Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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Media Contact
Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportValero Energy Corporation (VLO) : Free Stock Analysis ReportHelix Energy Solutions Group, Inc. (HLX) : Free Stock Analysis ReportConocoPhillips (COP) : Free Stock Analysis ReportHess Corporation (HES) : Free Stock Analysis ReportMarathon Oil Corporation (MRO) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Alabama officials ‘undecided’ on whether to prosecute woman who lost baby after being shot in stomach
An Alabama district attorney’s office has not yet decided whether to prosecute woman with manslaughter after she lost her foetus when she was shot in the stomach. Marshae Jones, 28, from Birmingham, was five months pregnant when Ebony Jemison, 23, shot her during an argument in December. Police initially charged Jemison with manslaughter. But an Alabama grand jury indicted Jones instead after a police investigation revealed she started the fight and that Jamison fired in self-defence. Jamison walked free. The indictment stated Jones did “intentionally cause the death” of “Unborn Baby Jones by initiating a fight knowing she was five months pregnant.” But the office of District Attorney Lynneice O Washington said it had not yet decided whether to pursue the case against Jones as the district attorney is currently out of the country. Her chief assistant DA Valerie Hicks Powe released a statement in which she expressed “sympathy for all the families involved, including Mrs Jones, who lost her unborn child”. Both prosecutors are African American women; Washington took office in 2017 as the first black female district attorney to be elected in Alabama. While the grand jury “had its say,” Ms Powe said the office has “not yet made a determination about whether to prosecute it as a manslaughter case, reduce it to a lesser charge or not to prosecute it.” She promised a thorough review and “an outcome that is most just for all the parties involved.” Lynn Paltrow, executive director of National Advocates for Pregnant Women, said women across the country had been prosecuted for manslaughter or murder for having an abortion or experiencing a miscarriage. But she said this was the first time she had heard of a pregnant woman being charged after getting shot. “This takes us to a new level of inhumanity and illegality towards pregnant women,” Ms Paltrow said. “I can’t think of any other circumstance where a person who themselves is a victim of a crime is treated as the criminal.” Story continues She said Alabama currently led the nation in charging women for crimes related to their pregnancies. The district attorney's office said it would decide how to proceed “only after all due diligence has been performed.” The argument, which allegedly took place outside a shop in Pleasant Grove on 4 December last year, was about the unborn baby’s father. Jones, who was five months pregnant at the time, was picked up in a car after she was shot in the stomach and driven to a nearby city. She was later rushed to hospital after police and paramedics tracked her down but her unborn child did not survive. The case has attracted widespread attention from the public, as well as reproductive and abortion rights activists. Alabama Reproductive Rights Advocates said it was working to get Jones bailed and to find her legal representation. Last month, Alabama became the latest US state to ban abortions in almost all cases, including rape or incest . Additional repoorting by AP |
Singapore to allow virtual banks as part of move to open up market
By Anshuman Daga
SINGAPORE (Reuters) - Singapore's central bank plans to issue up to five digital bank licenses to suitable applicants, in a move that could deliver the biggest shake-up in two decades in a market dominated by local banks.
"The new digital bank licenses mark the next chapter in Singapore's banking liberalization journey," said Tharman Shanmugaratnam, senior minister and chairman of the Monetary Authority of Singapore (MAS).
"We welcome firms with innovative value propositions to apply for the digital bank licenses, even if they have not yet established a track record in banking," Shanmugaratnam said at an annual event of the Association of Banks in Singapore.
Asia's non-banking firms are keen to challenge traditional banks by leveraging their technology and their user databases to offer banking services to retail customers and small businesses.
Singapore's banking market is dominated by DBS Group Holdings Ltd, Oversea-Chinese Banking Corp and United Overseas Bank Ltd.
Earlier this month, Reuters cited sources as saying that ride-hailing company Grab is close to hiring a consultancy to advise it on its banking potential and is gearing up to apply for a digital-only bank license in Singapore.
Global financial technology players are among other groups expected to seek licenses in Singapore, with some of them looking to form joint ventures, Reuters reported.
"The far-reaching effects of digitalization are stimulating a fundamental re-think of the role of banks, in most advanced financial centers," Shanmugaratnam said.
"We are starting with two digital full bank licenses, so as not to fragment Singapore's small domestic retail banking market," he said.
MAS expects to invite applications in August.
Shanmugaratnam said a digital full bank will start as a restricted digital bank to build up its business model and internal processes, and gradually progress to become a full functioning full bank.
Hong Kong, Singapore's fierce financial center rival, began issuing licenses earlier this year.
In Hong Kong, affiliates of Alibaba Group Holding Ltd and Xiaomi Corp, and consortia led by Standard Chartered PLC and BOC Hong Kong Holdings Ltd were among those who won the digital-only banking licenses.
The MAS said in a statement that it will issue up to two full digital bank licenses to companies headquartered in Singapore and controlled by Singaporeans.
Foreign firms are eligible for these licenses if they form a joint venture with a Singapore company, and the venture meets the headquarter and control requirements.
The central bank will also issue up to three digital wholesale bank licenses which will be open to both local and foreign players.
Digital wholesale banks will not be allowed to take Singapore deposits from individuals, except for fixed deposits of at least S$250,000 and will be permitted to maintain deposit accounts for corporate and small and medium enterprises.
(Reporting by Anshuman Daga; Editing by Jan Harvey and Louise Heavens) |
Top Analyst’s Doom Warning: Many Cryptocurrencies Will Go Bankrupt
It isn't looking good for scores of alternative cryptocurrencies that aren't bitcoin, an analyst has claimed. | Source: Shutterstock Bitcoin is currently retracing from its strong parabolic move over the last few weeks. This may mean that many crypto enthusiasts are anticipating the advent of the altseason (altcoin season). For those who are not familiar, the altseason is one of the most profitable periods in cryptocurrency trading. It is a time where other crypto tokens exponentially rise in value against bitcoin. Those who catch the move early can grow their bitcoin stockpile anywhere from 2x to 100x. Bitcoin, bitcoin price, Altcoins, Crypto, Cryptocurrency, The burgeoning excitement in the CryptoTwitter community regarding the possibility of the altseason may have forced top analyst Peter Brandt to issue a stern warning. In a tweet, he wrote that “cryptomaniacs” expect that other cryptocurrencies will increase in value against bitcoin. The same way they did in the 2017 bull run. However, they might not get what they’re looking for. That’s because the analyst compared the current altcoin sentiment to the 2000 dot-com bubble. That was when many .coms filed for bankruptcy. Many altcoins benefited from the last bull run in $BTC Cryptomaniancs expect alts to do so again – they may be very disappointed 2000 .com bubble is analog Following 2001-02 tech collapse, dotcoms with real value exploded The "alt" .coms went bankrupt — Peter Brandt (@PeterLBrandt) June 27, 2019 However, Brandt did acknowledge that “dotcoms with real value exploded.” It appears that this is his way of saying to be selective of the cryptocurrency projects that you invest in. Many do not offer real value, but those that do are bound to do really well. Other Respected Figures Echo Brandt’s Sentiments On Cryptocurrencies Others in the CryptoTwitter community share the top analyst’s bias. For instance, a pseudonymous account that goes by the name The Crypto Monk replied that during the .com bubble, some companies went under while some prospered. The trader expects the same thing to happen to cryptocurrencies and is baffled that other people expect a different outcome. Read the full story on CCN.com . |
The Zacks Analyst Blog Highlights: Xcel, NextEra and WEC
For Immediate Release
Chicago, IL –June 28, 2019 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Xcel Energy XEL, NextEra Energy, Inc. NEE and WEC Energy Group, Inc. WEC.
Here are highlights from Thursday’s Analyst Blog:
Will Wind Beat Hydro in the U.S. Energy Generation Race?
Usage of renewable energy sources to produce electricity is constantly increasing in the United States. The rising awareness of utility operators has resulted in ramped-up investments in research and development in the renewable space. New technology and advanced products have lowered the cost of operating utility-scale renewable power plants.
Per a recent forecast from the Energy Information Administration (EIA), wind, solar, and hydropower will collectively produce 18% of domestic electricity in 2019 and almost 20% in 2020. It foresees renewables as the fastest growing source of electricity production in the United States.
EIA expects energy-related carbon dioxide (CO2) emissions to decline 2.0% in 2019 and 0.9% in 2020 after the 2.7% rise in 2018. Electricity from wind sources is predicted to grow 12% and 14% in the next two years. EIA expects the share of total electricity generation from wind to increase from 7% in 2018 to 9% in 2020. Electricity generated from wind in 2019 will surpass hydropower generation.
The U.S. Department of Energy’s (DOE) latest Wind Vision Study Scenario projects 10% of the nation's end-use demand will be served by wind by 2020, 20% by 2030 and 35% by 2050. DOE also announced funding of up to $28.1 million targeted to advance wind energy nationwide across the land-based, offshore, and distributed wind sectors.
Utilities Show More Interest in Wind
Wind is gradually becoming the preferred renewable source of electricity generation in the United States owing to declining cost of production and usage of bigger turbines which allow production of greater volumes compared with earlier times. Innovation in the wind power generation technology will further bring down cost of operation.
Though flow and direction of wind is still a pressing concern, power generation from wind is on the rise. Utility players like Xcel Energy, NextEra Energy, Inc. and WEC Energy Group, Inc. are focusing on wind generation with extensive plans to produce more.
Xcel Energy aims to provide 100% carbon-free electricity to customers by 2050. The company’s steel-for-fuel initiative enables the addition of renewables. Nearly 3,000 MW of its new wind projects has received regulatory approval, with construction underway. The stock carries a Zacks Rank #3 (Hold) and has returned 30.2% in the past 12 months compared with industry’s return of 12.4%. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
NextEra Energy has decided to invest $39.5 billion in the 2019-2023 time frame in various projects. During 2018, the company added in excess of 6,500 MW renewable projects to its backlog, which includes 1,300 MW of wind repowering and in the first quarter of 2019, the backlog was 953 MW, which includes 195 MW of wind repowering. The stock carries a Zacks Rank #3 and has returned 21.7% in the past 12 months.
WEC Energy is focused on reducing carbon emissions by approximately 40% below 2005 levels by 2030 and 80% by 2050. The company is pursuing acquisitions to expand its wind operations. After acquiring Forward Wind Energy Center and Bishop Hill III, the company took over an 80% ownership in Coyote Ridge Wind Farm, which has a capacity of 97 MW. The stock carries a Zacks Rank #3 and has returned 29.3% in a year’s time.
Is the Focus on Wind Long-Term?
A few market experts opine that the focus on renewable sources like wind is primarily due to the incentives provided by the government. Experts believe, once the Production Tax Credit (PTC) is phased out, interest of utility operators will shift from the renewable energy space.
However, we expect the interest of utility operators to remain despite the gradual phasing out of PTC. Few utilities have already chalked out long-term plans to provide 100% electricity from clean sources with or without PTC.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of+98%,+119%and+164%in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportXcel Energy Inc. (XEL) : Free Stock Analysis ReportNextEra Energy, Inc. (NEE) : Free Stock Analysis ReportWEC Energy Group, Inc. (WEC) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Billionaire investor Ken Fisher on the G20: 'It's kind of like the prom'
All eyes will be on President Trump and China’s Xi Jinping as the G20 Summit in Osaka, Japan kicks off Friday. The two are expected to hold extended trade talks on Saturday.
But investors shouldn’t get their hopes on anything happening at the gathering, says billionaire investor andFisher Investmentsfounder Ken Fisher.
“It’s kind of like the [high school] prom,” he said onYahoo Finance’s YFi AM. “You've got all these people nicely dressed up. And they're all mostly saying nice things to each other. President Trump comes in, throws some cold water on a few people. And the dance goes on.”
That’s not to say there’s no hope for a trade deal.
“The reality is the negotiations that have to go on between the United States and China are fairly complex,” he said, adding that they’re likely not going to take place at the G20 meetings.
Before Trump and Xi’s meeting on Saturday, U.S. Trader Representative Robert Lighthizer isexpected to meetwith Chinese Vice Premier Liu He.
And President Xi is set to present Trump with a set of terms to settle trade tensions. Among them, Beijing is asking the U.S. to remove all punitive tariffs and remove its ban on the sale of U.S. technology to Chinese telecommunications giant Huawei. Both parties have reportedly agreed to a truce to resume trade talks.
“A truce is just a truce. It's not an end to the war. And in that regard, I think, probably, the market sees that with some disappointment,” Fisher said. “The reality is it's in President Trump's interest for a settlement that he can claim as bragging rights, but to do it far into the future from now. He doesn’t have to that right now.”
Fisher added: “Having said that, overall, I'm bullish. I've got a whole lot of reasons I'm bullish. I think the market's gonna do well in the next 12 months. And I do believe that in the longer term and probably next year, we get a complete resolution to this.”
Marina is a production assistant atYahoo Finance. Follow her on Twitter at@marina9527.
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Steps to release a new album in 2020, confirms Claire Richards
Steps's sixth studio album will be released in 2020, says Claire Richards. (Photo by C Brandon/Redferns) Steps fans rejoice! The pop band are set to release new music in 2020. Appearing on UK breakfast show Lorraine to discuss how she’s the opening act for Celine Dion at the BST Hyde Park next month, singer Claire Richards confirmed that the group has “a new album coming next year,” which they’ve already started working on. The 41-year-old went to suggest that “there will be a tour after that as well.” Although, the word “hopefully” cropped up a fair few times during the reveal, which indicates nothing is set in stone quite yet. Read more: Mel B 'I'm upset and disappointed' Victoria Beckham snubbed Spice Girls tour Rising to fame in the late 1990s, Steps - which is made up of Richards, Faye Tozer, Lisa Scott-Lee, Lee Latchford-Evans and Ian ‘H’ Watkins - released several hits including Tragedy , One for Sorrow, Stomp and 5,6,7,8 When H and Richards left the group, they disbanded in 2001. Ten years later, they reformed briefly to take part in a Sky Living four-part documentary called Steps: Reunion , which coincided with the release of their number-one album, The Ultimate Collection . The second season of the fly-on-the-wall outing was dubbed Steps: On The Road Again, followed the band during a 22-date UK tour in 2012. Later that same year, they released the album Light Up The World . After a short Christmas tour, they split once again. Then, they came back together in 2017 in honour of their 20th anniversary. Their fifth studio album, Tears on the Dancefloor , was released in April 2017. Read more: Guns N' Roses Steven Adler reportedly admitted to hospital after 'stabbing himself' “We would love to do some collaborations. We are very open to working with people,” Scott-Lee previously told Bang Showbiz . “If I had my choice, it would be Ed Sheeran or Calvin Harris. I don’t know if either of them would accept, but that would be my choice.” |
Canada spurred to action after billions lost in corporate tax revenue
By Tyler Choi
TORONTO, June 28 (Reuters) - Canada has ramped up efforts to enforce corporate tax compliance, boosting funding for government auditors and bolstering transparency within companies, with two recent reports revealing billions of dollars in lost tax revenues every year.
The Canada Revenue Agency (CRA) released a report last week showing a corporate tax gap of up to C$11.4 billion ($8.7 billion) before audits in 2014.
A day later, the Parliamentary Budget Officer estimated a "hypothetical" figure of C$25 billion in unpaid taxes in 2016 due to Canadian corporations engaging in transactions between offshore countries. Some of the transactions were suspected of avoiding Canadian taxes by shifting profits to low or no-tax jurisdictions.
The Department of Finance told Reuters Canada's tax gap estimates are comparable to other countries, but steps were being taken to rectify the problem. They said Bill C-82, which works to prevent the shifting of profits to low or no-tax locations, was passed as law last week.
Some recent measures, including additional funding for CRA, has resulted in 1,100 offshore audits and 50 criminal investigations linked to offshore transactions, the department said.
The government has also amended Canada's Business Corporations Act in May 2018 to require federally incorporated corporations to maintain beneficial ownership information and be more accessible to authorities.
The government has also invested over C$1 billion in strengthening the CRA over three budgets, and earmarked an extra C$150.8 million to fund auditors over five years in the 2019 budget.
The tax non-compliance is resulting in money for healthcare, childcare, education and green infrastructure being lost, said Toby Sanger, executive director of Canadians for Tax Fairness, a non-profit organization that advocates for progressive tax policies.
Sanger said that the proposed federal universal pharmacare program that would create a single-payer system for prescription drugs would be funded if the unpaid taxes were recovered.
Sanger recommends setting up a beneficial ownership registry for corporations to improve transparency and increase funding to fight offshore tax evasion.
Brian Kingston, vice president of international fiscal policy at the Business Council of Canada, which represents the CEOs of 150 Canadian companies, said they support the federal government's efforts to improve beneficial ownership transparency to combat financial crimes, but it should balance the privacy of individuals and protect the competitiveness of businesses.
Reducing the complexity of the tax system by modernizing through digital tools would help in tax compliance and reduce the need for audits, Kingston added.
Jonathan Farrar, a professor of taxation at Wilfred Laurier University, Bill C-82 and strengthening transparency are steps in the right direction, but would mean "more future legal battles over the meaning of words in the legislation and the intent of the legislation."
($1 = 1.3102 Canadian dollars) (Reporting by Tyler Choi Editing by Susan Thomas) |
Nicki Minaj Has a Red Lobster ‘Black Card’ Allowing Her a Lifetime of Free Cheddar Bay Biscuits
Here are two celebrity tidbits you may not have known: Before her rap career, Nicki Minaj actually had a stint working at “a couple different” Red Lobsters ( getting fired from all of them ). And until recently, Tonight Show host Jimmy Fallon had apparently never even been to America’s best-known full-service seafood chain. (How someone born into an American middle-class family in 1974 has never eaten at a Red Lobster is beyond me, but I’ll take his word for it!) Andrew Lipovsky/NBC Working from that premise, last night, Fallon and Minaj headed over to the Red Lobster in New York’s Times Square so one could relive her server glory days and the other could experience the joys of Cheddar Bay Biscuits . About 7.5 minutes of comedy ensued… The segment begins with Fallon popping his Red Lobster cherry — and, of course, Lobsteritas and Cheddar Bay Biscuits to get things going. Fallon’s take on the latter: “This is absolutely fantastic.” Then, not long after the five-minute mark, Minaj gets her chance at redemption. “Upstairs there’s people waiting for food,” Fallon explains. “They have no idea that we’re here. Let’s go serve some food to these great people.” The uniforms go on and all. In the end, Minaj’s return stint is deemed successful enough that Fallon rewards her with what he calls “the first and only” Red Lobster “black card,” allowing the rap star to get free Cheddar Bay Biscuits for life. “Oh my god,” she responds. “This is the nicest thing anyone’s ever given me.” Uh, yeah, it’s a card for a lifetime of free Red Lobster Cheddar Bay Biscuits: It’s the nicest thing anyone could ever give anyone! Finally, if you stick around until the end, you’ll also get a glimpse of what has to be the largest basket of Cheddar Bay Biscuits you’ll ever see. |
Best & Worst Zones of 1H19 and Their ETFs
Stocks across the globe are on track to record their best first-half performance in more than 20 years. This has been primarily driven by easy money policies by the central banks, with some signaling interest rate cut and some launching fresh stimulus to tackle global growth headwinds.Hopes of resumption of trade talks between the world’s two largest economies, waves of mergers & acquisitions, and oil price rebound also fueled the rally. However, the still unresolved trade woes, Brexit uncertainty, rising Middle East tension, geopolitical issues and global growth slowdown continue to weigh on the stocks.The decline in yields and global uncertainty has pushed Treasury bonds higher in the first half. Also, this has returned the demand for gold (read: Gold is Now the Hottest Trade: ETFs to Add More Shine).
Given this, most corners of ETF investing have performed exceptionally well while a few areas are lagging. Below, we have highlighted the best and worst zones of the first half and their ETFs in detail:Best ZonesSolarSolar ETF has emerged as the undisputed winner in the first half, jumping 48.4%. The rally has been driven by a rebound in global solar demand, California’s push to make solar panels, competitive pricing and the potential Chinese subsidies. The strongest-ever solar installation and exemption of tariff on one type of solar panels also added to this upside (read: 5 High-Flying Stocks of the Top ETF in 1H).This ETF offers global exposure to the solar industry by tracking the MAC Global Solar Energy Index, holding 23 stocks in the basket. American firms dominate the fund’s portfolio with nearly 47.2% share, followed by China (26.5%) and Spain (7.6%). The product has amassed $349.7 million in its asset base and trades in a solid volume of around 157,000 shares a day. It charges investors 70 basis points (bps) in fees per year and has a Zacks ETF Rank #3 (Hold) with a High risk outlook.GreeceGreece stock market has been on a tear backed by resurgent economy and the ongoing push to offload bad debt on banks’ balance sheets, which have weighed on the country’s recovery for years. Additionally, a big defeat of the ruling leftist coalition in regional and Euro elections has added to the strength. As a result,Global X MSCI Greece ETF GREK, which tracks the MSCI All Greece Select 25/50 Index, has climbed 37.5% in the first half.It is home to a small basket of 35 companies and charges 59 bps in fees per year from investors. Financials takes the top spot at 26% in terms of sector holdings, followed by consumer discretionary (17%), energy (16%), and communication services (13%). The product has amassed $354.1 million in its asset base and trades in solid volume of around 430,000 shares per day. It has a Zacks ETF Rank #4 (Sell) with a High risk outlook (read: Top Performing Country ETFs of 1H).GasolineGasoline futures surged following the large explosion and fire at a Philadelphia refinery, disrupting the supply in the traditional summertime driving season. Rising supply concerns in the Middle East and dipping American refining capacity also added to the strength. As such,United States Gasoline ETF UGAhas gained 37.3%.This ETF provides investors with exposure to front-month gasoline futures, tracking RBOB gasoline for delivery to the New York harbor, which is traded on the NYMEX. The ETF trades in average daily trading volume of about 36,000, suggesting that investors have to pay extra beyond the annual fee of 75 bps per year. The fund has managed assets of $39.5 million.Worst ZonesVolatilityThough the stock market witnessed bouts of volatility in the first half, volatility products were the biggest losers. In particular,ProShares VIX Short-Term Futures ETF VIXYhas dropped 43.8%. It focuses on the S&P 500 VIX Short-Term Futures Index, measuring the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration. It has amassed $254 million in AUM and charges 85 bps in fees per year. The fund trades in average daily volume of 2 million shares.ShippingShipping stocks saw rough trading on fears that U.S.-China trade tensions could reduce the volume of cargo at sea. As a result,Breakwave Dry Bulk Shipping ETF BDRYhas fallen 29.6% in the first half. This is an actively managed ETF that seeks to provide exposure to daily changes in the price of dry bulk freight futures by tracking the performance of a portfolio consisting of a three-month strip of the nearest calendar quarter of futures contracts on specified indexes that measure rates for shipping dry bulk freight. The fund has accumulated about $4.2 million in AUM. It trades in a paltry volume of about 4,000 shares per day on average and charges a higher annual fee of 1.85% (see: all the Industrial ETFs here).Natural GasNatural gas price dropped to its lowest level since May 2016 thanks to supply glut.United States Natural Gas Fund UNGshed 19.4% so far this year. This fund provides direct exposure to the price of natural gas on a daily basis through futures contracts. If the near month contract is within two weeks of expiration, the benchmark will be the next month contract to expire. It has AUM of $319.3 million and trades in volume of around 2 million shares per day. The fund has 1.28% in expense ratio (read: Will Natural Gas ETFs Recover in the Near Term?).Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportGlobal X MSCI Greece ETF (GREK): ETF Research ReportsProShares VIX Short-Term Futures ETF (VIXY): ETF Research ReportsUS Commodity Funds United States Gasoline Fund LP (UGA): ETF Research ReportsUS Commodity Funds United States Natural Gas Fund LP (UNG): ETF Research ReportsBreakwave Dry Bulk Shipping ETF (BDRY): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report |
Snap-On Hurt by Soft Sales Trend, Growth Plans on Track
Snap-On IncorporatedSNA has been witnessing soft sales trend that continued for the fourth straight time in first-quarter 2019. Moreover, sales dropped 1.5% in the first quarter due to adverse impacts of foreign currency translations, partly offset by organic sales growth.Decline in sales across the Commercial & Industrial Group, and Repair Systems & Information Group segments also hurt the company’s top-line performance. Lower sales at the Asia-Pacific operations negatively impacted the Commercial & Industrial Group division. Sales at Repair Systems & Information Group were negatively impacted by decline in organic sales, mainly due to lower sales of undercar equipment.This apart, the company is exposed to foreign currency headwinds. This Zacks Rank #4 (Sell) company’s top line in first-quarter 2019 included negative impacts of about $26.1 million from foreign currency movement. Further, unfavorable currency hurt operating income by nearly $5.7 million. In fact, currency had an adverse impact of $13.8 million, $6.2 million and $7.6 million at the company’s Commercial & Industrial Group, Tools Group and Repair Systems & Information Group segments, respectively, in the reported quarter. Going ahead, management anticipates currency translations to continue denting results in the second quarter.We note that although shares of this company have gained 12.5% in the past six months, it has underperformed the industry’s growth of 15.5%.
Efforts to Counter HurdlesSnap-On is benefiting from a robust business model and focus on value-creation processes. The company’s growth strategy focuses on three critical areas — enhancing the franchise network, improving relationship with repair shop owners and managers, and expanding critical industries in emerging markets.Further, Snap-on is dedicated toward various strategic principles and processes aimed at creating value in areas like Rapid Continuous Improvement (RCI). The company’s RCI program, designed to enhance organizational effectiveness and minimize costs, has been driving margins and profits. Moreover, management intends to boost customer services along with enhancing manufacturing and supply-chain capabilities through the RCI initiatives and further investments. Savings from RCI initiatives mainly drove gross margin in the first quarter. The company anticipates making progress on these growth strategies in 2019, which should drive its bottom line.Additionally, the company boasts a healthy balance sheet that offers it financial flexibility to enhance shareholder returns and drive future development through value-added investments aimed at accelerating growth. Further, its commitment toward enhancing shareholder value is evident from its constant dividend payment and share repurchase programs. At the end of first-quarter 2019, Snap-on had cash and cash equivalents of $156.2 million. In the first quarter, it distributed cash dividends of $52.8 million along with REIT repurchases of 295,000 shares for $47.4 million. At the end of the first quarter, the company had about $476.9 million remaining to be repurchased under its existing authorization.All said, management expects these positives to continue throughout the year. The company anticipates making progress on defined strategies for growth in 2019, which should boost its bottom line. With such well-chalked plans, we believe the stock is well-positioned to regain its lost sheen in the future.Check Out These Consumer Discretionary StocksColumbia Sportswear COLM has a long-term earnings growth rate of 8.9% and a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Crocs CROX has a long-term earnings growth rate of 15% in the last reported quarter. It currently carries a Zacks Rank #1.Under Armour UAA has a long-term earnings growth rate of 27.1% and a Zacks Rank #2 (Buy) at present.Will you retire a millionaire?One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”Click to get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportUnder Armour, Inc. (UAA) : Free Stock Analysis ReportCrocs, Inc. (CROX) : Free Stock Analysis ReportColumbia Sportswear Company (COLM) : Free Stock Analysis ReportSnap-On Incorporated (SNA) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Dog the Bounty Hunter Shares Video of Late Wife Beth Chapman Singing Bruno Mars
Duane "Dog" Chapman is remembering his late wife . The 66-year-old Dog the Bounty Hunter star took to Twitter on Thursday to share a sweet video of Beth Chapman , who died earlier this week after a battle with cancer. In the clip, Beth is seen looking happy and healthy as she sings Bruno Mars' 2016 song, "Perm." While wearing an all black look -- including bedazzled pants -- Beth is really feeling the tune, belting out the track into the microphone as she dances in a restaurant as people watch on and join in. "People have asked me.. What is something fans do not know about Beth... Here you go ❤️," Duane captioned the clip. People have asked me.. What is something fans do not know about Beth... Here you go ❤️ @wgnamerica Marty Singer, Amy Weiss, Andrew Brettler @LelandBChapman @icEciLy @BabyLyssaC @dakotadog808 @Fast156 @theRealJaneBond pic.twitter.com/Om808KKV9k — Duane Dog Chapman (@DogBountyHunter) June 27, 2019 The post came shortly after Duane praised his late wife, who was 51 at the time of her death, to reporters outside their home in Hawaii. "She wanted to live so bad and she fought so long. And the reason she fought, she liked life, but she wanted to show people how to beat it and what to do when it got her," he told Hawaii News Now . "One of the last things she said [was], 'This is a test of my faith.' She had faith and then that was it." Story continues "... There's things you go through when you're dying, like steps. Like you do when you lose someone. You get mad at them and then you go through all these steps," he continued. "Well, the last step when you're dying is to accept it. And she said to me the other day, 'Honey, that last step I ain't taking.' Go Bethy." "... It's a hard fight. She fought hard," he added. "... I loved her so much. 'As Lazareth lay,' Jesus said, 'He's not dead, he's sleepeth.' My final words are Beth isn't dead, she sleepeth." Beth, who will be cremated , is set to be remembered with two memorial services ; the first will be a gathering in Hawaii on Saturday, and the second will be held in Colorado on a date that's yet to be announced. Watch the video below for more on the Chapman family. RELATED CONTENT: Beth Chapman Will Be Honored With 2 Memorial Services A Timeline of Beth Chapman's Battle With Cancer: Everything She's Said About Fighting the Disease Dog the Bounty Hunter Reveals Wife Beth Chapman's Final Words Related Articles: Hollywood Bikini Bods Over 40 Biggest Celebrity Breakups of 2019 -- So Far! Celebrities in Their Underwear |
Giannis Antetokounmpo unveils new sneakers
Just days after taking home his first MVP award , Milwaukee Bucks star Giannis Antetokounmpo crossed off another significant career milestone Friday. He got his first signature sneaker with Nike. The Zoom Freak 1 was unveiled Friday. It has a clean and simple black and white design. Introducing the Zoom Freak 1. @Giannis_An34 ’s debut signature shoe honors his Greek heritage, while designed for his freakish speed, power and control. Arriving on https://t.co/QytNJeB2G4 July 1. Available in the U.S. July 10: https://t.co/2xA4Z49TC5 #zoomfreak1 #giannis #nike pic.twitter.com/IdbkHxcZwt — Nike Basketball (@nikebasketball) June 28, 2019 The sneakers will be available on Nike’s website July 1. They’ll be available in the United States on July 10. That wasn’t the only shoe Antetokounmpo will get with the company. He unveiled two other sneaker designs. One of which is a white sneaker with red soles and logos. The other is a more colorful orange that features black, blue and hints of yellow. Those will be available June 29. JUST IN: Nike officially announces first signature shoe for @Giannis_An34 , the Air Zoom Freak 1, orange version will be available tomorrow for ($120) pic.twitter.com/C5CLqx5eU3 — Darren Rovell (@darrenrovell) June 28, 2019 Antetokounmpo is far from the only basketball player to unveil a line of shoes. Every time it happens, the internet is quick to judge the designs and decisions that went into those sneakers. Story continues Stephen Curry’s shoes were roasted initially . Kawhi Leonard drew mixed reactions when he decided to partner with New Balance. Where do Antetokounmpo’s fit in? If you have an extra $120 lying around, are you going to spend it on a new pair of Antetokounmpo’s sneakers? ——— Chris Cwik is a writer for Yahoo Sports. Have a tip? Email him at christophercwik@yahoo.com or follow him on Twitter! Follow @Chris_Cwik More from Yahoo Sports: USWNT needs Alex Morgan to step up vs. France Rapinoe stands ground in cross-Atlantic Trump spat Report: Celtics are the favorite to land Walker Sources: Hill meets with NFL over child abuse charges |
Options Bulls Continue to Blitz Embattled Biogen Stock
Biogen Inc (NASDAQ:BIIB)stock is trading down 1.8% at $235.42, after Piper Jaffray downgraded the biotech to "neutral" from "overweight," and lowered its price target to $250 from $280. The brokerage firm is concerned about increasing competition among multiple sclerosis drugs, and says it sees "troubling near- and longer-term trends" for BIIB.
Most analysts are already bearish on Biogen, with 18 of 24 maintaining a "hold" or worse rating on the stock prior to today. Plus, the average 12-month price target of $252.81 is a slim 7% premium to current trading levels.
Options traders, on the other hand, have been unusually optimistic toward BIIB in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 2.43 ranks in the 85th annual percentile, meaning calls have been bought to open over puts at a quicker-than-usual clip.
It's a similar trend today, albeit amid low absolute volume. At last check, 1,530 BIIB calls had been traded, 1.5 times the expected intraday amount, compared to a lower-than-usual 640 puts. Day traders may be buying to open the weekly 6/28 237.50-strike calls for a volume-weighted average price of $0.87, which would make breakeven for thecall buyersat tonight's close $238.37 (strike plus premium paid).
Looking at the charts, Biogen stock is currently staring at a nearly 22% year-to-date deficit. The bulk of these losses came in the wake of alate-March bear gap-- sparked by a pair of halted drug trials -- with BIIB stuck churning between $220 and $245 in recent months. The higher-end of this trading range is home to the equity's descending 80-day moving average, too, which contained a breakout attempt earlier this week. |
Dutch government presents measures to cut carbon emissions
THE HAGUE, Netherlands (AP) — The Dutch government presented Friday a wide-ranging raft of measures — from a carbon tax for business to more bicycle parking at railway stations — that aim to slash by a half by 2030 the Netherlands' emission of carbon. Minister of Economic Affairs Eric Wiebes called the climate package "achievable and affordable for everybody," and said it puts the Netherlands at the forefront of nations adapting to meet the challenge of climate change. Environmental groups welcomed some measures, but criticized the package as insufficient in the battle to halt the warming of the Earth's atmosphere. Greenpeace said in a statement that it papers over climate issues "with short-term solutions like storing carbon in the seabed and the use of biomass." The climate crisis, it added, "requires measures that will provide real solutions for generations to come." The government said the proposed carbon tax for industry will act as a push for companies to "take steps toward sustainability." The carbon tax will likely start at 30 euros ($34) per ton of carbon emissions in 2021 and rise to as much as 150 euros ($170) per ton in 2030, according to the government. The package aims to put the Netherlands on track to meet its commitments under the 2015 Paris climate accord. Under the accord, countries have to submit fresh targets by 2020 for reducing greenhouse gases. The Dutch package was presented in a 237-page document that outlined a long list of measures including subsidies for people who make their homes more sustainable by installing solar panels and improving insulation. It also laid out the country's intention to phase out petrol and diesel cars and to introduce a new way of taxing drivers — although legislation on that will have to be tackled by the next Dutch government. "A new system of car taxation is unavoidable," Wiebes said. Joris Thijssen, director of the Dutch arm of Greenpeace, said big business would not contribute enough. Story continues "There are a lot of good points," he said, but added that "industry will still pay too little for its pollution." The Dutch government said last year it aims to make electricity production in the Netherlands 100 percent carbon neutral in 2050 and generate 70 percent of energy using from wind and solar by 2030. In a typically Dutch approach, sectors of society that will have to implement changes sat down together for months to thrash out details of the deal. The leader of the process, Ed Nijpels, said the same spirit of cooperation is now necessary to make it a success. "It is an unprecedented achievement that a broadly supported package of measures has been agreed upon by so many groups," he said. |
PRED: Thermo Fisher Deal to Advance Endometriosis Research
ByJohn Vandermosten, CFAOTC:PREDOver the last couple weeks Predictive Technology Group (PRED) has achieved two milestones in its advance towards validating and commercializing its endometriosis diagnostic test. On June 19th the companyannounceda research collaboration with Thermo Fisher Scientific and on June 24thpresentednew genetic findings in endometriosis at the European Society of Human Reproduction and Embryology (ESHRE) conference. We attach significant value to Predictive’s efforts in endometriosis as it is a component of the ARTguide and Fertility Dx diagnostics and is the purpose of the ENDORisk diagnostic. As we discussed in our initiation, the disease impacts an estimated 200 million women worldwide, is frequently misdiagnosed and can be diagnosed early with Predictive’s genetic tests.Thermo Fisher’s collaboration with Predictive Laboratories is focused on studying the genetic factors underlying infertility in women. Thermo Fisher is a global leader in diagnostics and provides a number of assays and sequencing tools that are used in the development, optimization, validation and verification of tests for reproductive health. The primary focus of the work will center on endometriosis, which is estimated to affect 40% of women with infertility. With this arrangement, not only does Thermo Fisher help cement its reputation as a dominant player in the research of genetic diseases but Predictive is able to bring greater attention to its leading edge work. Predictive has combined the information from its DNA sample library, exome sequencing database, ancestry records and other genetic data with Thermo Fisher’s assays and sequencers to develop effective tests to estimate the probability of certain conditions.View Exhibit I- ARTguide Diagnostic Result Tear SheetThe collaboration will combine Predictive’s research with Thermo Fisher’s equipment to identify women who are most likely to suffer from endometriosis. The equipment that will be used includes Thermo Fisher’s Applied Biosystems CarrierScan Assay, Ion ReproSeq PGS Assay, CytoScan Dx Assay, and Ion AmpliSeq Exome RDY.View Exhibit II- Applied Biosystems CarrierScan Assay ComponentsMany of these assays and tests can be run on the Ion GeneStudio S5 genetic sequencer imaged below.View Exhibit III- Ion GeneStudio S5 SystemAs part of Predictive’s research advancements in identifying gene markers for disease, Dr. Kenneth Ward takes on a leading role. He sits on Predictive’s Scientific Advisory Board and also presentednew datademonstrating the genetic basis of endometriosis at the ESHRE conference held June 23 to 26 in Vienna, Austria. His work condensed the key identifiers of endometriosis to mutations in four genes identified as ZNF586, LUZP4, POP4 and UNC5CL.The underlying research found that 25% of women with endometriosis present at least one of these mutated genes compared to 8% for the population overall. It additionally found that there were 141 distinct coding mutations in the identified genes. These results combined with other genetic data will be used to develop genetic tests that will predict the likelihood of endometriosis in women. The process also forms the basis for an approach that will support the development of additional tests in scoliosis, degenerative disc disease and other genetic disorders.Predictive has distinguished itself as a trailblazer in genetic diagnostic testing. Their access to a substantial and broad genetic data set and consistent focus on fertility medicine has placed them in the vanguard of companies in their industry. We expect to see additional genetic tests launched in the coming quarters leveraging the company’s data and research expertise.SUBSCRIBE TO ZACKS SMALL CAP RESEARCHto receive our articles and reports emailed directly to you each morning. Please visit ourwebsitefor additional information on Zacks SCR.DISCLOSURE: Zacks SCR has received compensation from the issuer directly or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full DisclaimerHERE. |
What is the CryptoRuble?
Earlier this year, Coin Rivet reported that Russia has plans to introduce a ‘CryptoRuble’ to rival Bitcoin. It is understood that Vladimir Putin himself has ordered teams of experts to create a cryptocurrency that will allow the Russian leader to bypass international sanctions and keep many of his country’s huge intercontinental transactions under the radar. Cryptocurrencies are starting to play an increasing role in modern financial markets. A few years ago, crypto was being viewed as some form of pyramid scheme by many in Russia. However, it is already obvious that they are becoming part of our everyday economic reality. The CryptoRuble digital currency The Russian government has long been undecided on how to deal with Bitcoin and other virtual coins, but it seems that it has finally agreed on a clear position regarding the CryptoRuble. The regulatory framework is already being prepared, so what prospects can ordinary investors expect from such a project? The state will declare stricter regulation as a means of protecting ordinary citizens who may unknowingly end up suffering from fraud. The issues of emission and control will be handled by the Central Bank, perhaps in a coalition with the Ministry of Finance. However, the CryptoRuble will not have anything in common with the technologies of world-famous cryptocurrencies like Bitcoin, Ethereum, and others. This has been clearly expressed by Russian financial analysts. The Russian government itself is interested in the project as another means to strengthen control and avoid external sanctions. Therefore, it is expected that government agencies will be the first to trial the CryptoRuble. In the future, the regulator may try to introduce the asset into mutual settlements between legal entities and even individuals. Nevertheless, there are fears that if the digital ruble simply just reflects the same dynamics as its paper counterpart, it will not arouse interest from ordinary citizens and even foreign exchange market players. Story continues What makes the CryptoRuble unique? The differences and similarities with other cryptocurrencies Russia’s proposed CryptoRuble doesn’t follow the principles of most common global digital currencies. Unlike standard cryptocurrencies, the CryptoRuble will clearly differ in its characteristics. First of all, it will be fully controlled by the state bodies of the Russian Federation. Investors cannot count on the anonymity of transactions. As stated by Putin and other high-ranking officials in the country, this is done in order to prevent the laundering of funds earned by dishonest means. The CryptoRuble should not be treated as a monetary unit that will abide by the laws of supply and demand. It is not clear how the project will be of interest to society from a practical point of view. If each CryptoRuble is equal to the same ordinary (fiat) ruble, then it will simply be another means of payment and no more. There is also the risk that it will become vulnerable to inflation. CryptoRuble or digital token? According to the head of the Russian Ministry of Communications, Nikolay Nikiforov, it is incorrect to use the terms “CryptoRuble” and “cryptocurrency” when referring to the proposed digital asset. Instead, as the asset will be used as a digital calculation tool, the definition of “digital token” is more accurate. Mr Nikiforov said: “The term ‘CryptoRuble’ is incorrect from the point of view of banking terminology and legislation. It would be more correct to say digital token.” Mr Nikiforov has urged the government to introduce a separate specific concept and to work out all the rights and obligations in the development stage. However, the development of this digital asset requires certain prerequisites and conditions. Cryptocurrencies and digital assets need to abide by certain laws and regulations, but Russia’s laws surrounding digital assets are still relatively unclear. Vladimir Putin commissioned a team to create special amendments to the domestic legislation which would explain the concept and existence of cryptocurrencies. The Central Bank was also required to prescribe a procedure according to which they could be used and regulated. Despite Russia’s previous refusal to be drawn in by such financial instruments, the Russian authorities seem to have realised the need to work with them given the realities of the modern financial market. Conclusion The CryptoRuble will not be mined in the traditional sense, and supply will be controlled by the government. However, investors will feel more secure because the currency’s success will be tied to the Russian economy and not purely speculative or prone to volatility. It will have little in common with the virtual currencies that are already circulating in the market. Only time will tell whether it will be accepted by the Russian population. The post What is the CryptoRuble? appeared first on Coin Rivet . |
Jake Gyllenhaal on almost playing Spider-Man and what he learned from 'Prince of Persia'
Jake Gyllenhaal enters the Marvel Cinematic Universe next week with the release of Spider-Man: Far From Home , in which he plays Quentin Beck – aka Mysterio – a flying, dome-helmet-wearing supes who becomes a mentor to Tom Holland's Peter Parker in the film's early goings. There was a time, though, some 15 years ago, when the now-38-year-old actor almost played Spidey himself. He was rumored to be in the running to take over the role of Parker in 2004's Spider-Man 2 after star Tobey Maguire injured himself on the set of the horseracing drama Seabiscuit . Gyllenhaal was also dating Spider-Man 's lead female, Kirsten Dunst, at the time. "I heard the same thing," Gyllenhaal said coyly when we recalled as much during a recent interview in Yahoo Studios (watch above). "The truth of the matter is, in the end, he's Spider-Man." It was typical Hollywood maneuvering, the Gyllenhaal explained. "There are so many roles in my career where I was up against another actor, or something happened that possibly could've happened but didn't happen but maybe it would have… Eventually my belief is when an actor's played a character, particularly in a movie, the character's theirs, and that's that. "But yeah he hurt himself and there was talk. And there was a slew of actors [possibly up for the part], and I was one of them." Far From Home marks Gyllenhaal's first mega-budgeted studio entry since the 2010 video game adaptation The Prince of Persia , which turned a profit with a $336 million haul but never became the franchise successor to Pirates of the Caribbean that Disney hoped it could be. The actor has done nothing but original adult dramas since (including but not limited to Source Code, End of Watch, Prisoners, Nightcrawler, Nocturnal Animals and Velvet Buzzsaw ), many of which drew serious acclaim, and it's long been speculated that generally underwhelming reaction to Persia turned him off blockbuster fare. Gyllenhaal all but confirmed that was the case. Story continues "I think I learned a lot from that movie in that I spend a lot of time trying to be very thoughtful about the roles that I pick and why I'm picking them," he said. "And you're bound to slip up and be like, 'That wasn't right for me,' or 'That didn't fit perfectly.' There have been a number of roles like that. And then a number of roles that do." Spider-Man: Far From Home opens July 2. Visit Fandango for tickets and showtimes information. Watch the trailer: Read more on Yahoo Entertainment: Jake Gyllenhaal argues Sean Paul 'makes every song better,' delighting the internet See Jake Gyllenhaal mash up his Spider-Man character and Broadway play Why The Satirical Slasher 'Velvet Buzzsaw' Has The Art World Screaming Want daily pop culture news delivered to your inbox? Sign up here for Yahoo Entertainment & Lifestyle's newsletter. |
JPMorgan CEO Dimon Says Crypto Companies ‘Want to Eat Our Lunch’
JPMorgan Chase CEO Jamie Dimon indicated in a recent interview withYahoo Financethat he had not spoken withFacebookabout the development ofLibra.
“But it’s very possible someone in the company did,” Dimon said.
“Blockchain is real,” he said, citing his company’s foray into the space withJPM Coinblockchain. “And I think competition is real.”
Related:Binance Talking to Facebook About Libra Listing: Reports
For Dimon, cryptocurrencies bring disruption to the banking industry because they provide similar services that banks traditionally provided like money transmission, clearinghouse activity, and real-time payments – though he adds, “It’s not an existential threat.”
“We’re going to have competitors, whether its a cryptocurrency competitor or another FinTech competitor. We’re going to have competitors.”
“I tell our people, don’t guess, you know they’re there, you know they’re coming, you know they want to eat our lunch. Assume it.”
Whether it’s a bank or a crypto service startup, Dimon said there are serious issues regarding the future of money. He believes some of these are caused by the government, specifically in determining whether they will be subject to banking regulations, KYC, the bank secrecy act, or anti-money laundering rules.
Related:US Lawmakers Question Terrorist Use of Facebook Cryptocurrency
Sympathetic to the crypto industry’s desire to serve their clients, Dimon also said he’d “want to be able to serve their clients.”
“I always look at these [blockchain] systems like we’d like to do some of it too, ourselves.”
Jamie Dimon photo courtesy of flickr/Stefen Chow
• Trump Administration in Talks With Crypto Startup on Israeli–Palestinian Peace Plans
• ShapeShift Founder Says Crypto Exchange Service Will Support Libra |
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Investors Closely Follow G-20
To finish off this week of pre-market activity, we see market futures notably up again. However, it will take major bullish sentiment today to mount the market’s fourth-straight up-week. Just ahead of the G-20 summit in Osaka, Japan this weekend, any such surge seems unlikely.
That said, if the scheduled meeting between Presidents Trump and Xi goes well tomorrow, we may see invigorated market indexes to start next week. Should negotiations fall apart or come up short, it’s possible we could see a different story emerge in the markets ahead of the Independence Day-shortened trading week next week.
Should investors be interested in other developments besides the G-20 this morning, the new monthly report on Personal Income and Consumer Spending came out this morning. And, as we saw in the previous month, we saw greater strength than expected on the former and slightly less than consensus on the latter.
Personal Incomefor May rose 0.5%, ahead of the +0.3% expected, and even with April’s headline figure.Consumer Spending, also for May, reached +0.4%, down 10 basis points from consensus but up from the +0.3% in April. The deflator was up 0.2% month over month and in-line year over year.
These numbers can be construed as good news: wages appear to be rising faster than consumer spending. This may bode well for future spending figures as wages finally gain some traction in this years-long employment boom. Gains are still gradual, but they are definitely moving in the right direction.
This is the last trading day of the first half of 2019, and we have seen the market’s best performance in 21 years. This came off a roughly 4th quarter of 2018, which mercifully hit its low point in a shortened trading day on Christmas Eve. We’re now back within range of new all-time highs with the second half of the year ahead of us.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTo read this article on Zacks.com click here.Zacks Investment Research |
Trump news: Jimmy Carter questions president's legitimacy as POTUS jokes with Putin about election interference
Donald Trump has met with Russian president Vladimir Putin at the G20 in Osaka, Japan, wagging a finger at his Kremlin counterpart and saying, at the prompting of reporters and in a jovial manner: Dont meddle in the election. The pair bonded over their shared contempt for journalists on a long day of talks with fellow world leaders covering Iran , trade and defence spending before sitting down to an elegant banquet - where Mr Trump was seen slugging a huge glass of non-alcoholic wine - as the first day of the summit drew to a close. That was one day after the Russian leader praised the president of the United States for his nationalist world views and vigorously declared the days of the Wests liberals are dying if not already dead. For some time, Mr Trump has defied the once-entrenched Republican distrust if not outright hatred of the powerful nation at the heart of the former Soviet Union. But Fridays joint appearance seemed to go even further. As the two leaders sat down for their first meeting in nearly a year, a reporter asked Mr Trump if he would warn Putin not to meddle in Americas upcoming 2020 election. The exchange at the Group of 20 summit in Osaka echoed one of the defining moments of Mr Trumps presidency from a year ago in Helsinki, Finland. There, he pointedly did not admonish Mr Putin about election interference and did not side with US intelligence agencies over his Russian counterpart. Mr Putin disputes special counsel Robert Muellers conclusion that Russia interfered in the 2016 US election to help Mr Trump win. Mr Putin told the Financial Times this week that it was mythical interference. What happened in reality? Mr Trump looked into his opponents attitude to him and saw changes in American society and he took advantage of this, Mr Putin told the newspaper. Meanwhile, in the second Democratic Party presidential debate in Miami, Florida, the standout moment of the night came when California senator Kamala Harris laid into former vice president Joe Biden over his hurtful recent remarks about being able to work with segregationists he disagreed with earlier in his career, reminding the veteran of the harmful legacy of their stance. Additional reporting by AP. Please allow a moment for our liveblog to load |
Dow Edges Higher While G20 Leaders Mull Sweeping Crypto Rules
The Dow Jones cautiously inched up as Day 1 of the G20 Summit unfolded in Osaka, Japan. The US stock market and global financial markets have been careening uneasily for weeks amid trade tensions between US President Donald Trump and Chinese President Xi Jinping.
However, the escalating trade war rhetoric has softened a bit in recent days ahead of theG20 Summit. There’s now growing optimism that the United States and China will reach some sort of agreement that’ll stem a global stock market crash.
According to the White House, Trump and Xi are scheduled to meet for 90 minutes at the G20, a gathering of 19 nations and the European Union. Together, the G20 economies account for 80% of world trade.
President Trumptoldreporters that he expects a “productive” meeting with Chinese leader Xi.
“At a minimum, it will be productive. We’ll see what happens and what comes out of it.” |
Should First Trust Mid Cap Growth AlphaDEX Fund (FNY) Be on Your Investing Radar?
The First Trust Mid Cap Growth AlphaDEX Fund (FNY) was launched on 04/19/2011, and is a passively managed exchange traded fund designed to offer broad exposure to the Mid Cap Growth segment of the US equity market.
The fund is sponsored by First Trust Advisors. It has amassed assets over $259.21 M, making it the smallest ETFs attempting to match the Mid Cap Growth segment of the US equity market.
Why Mid Cap Growth
With market capitalization between $2 billion and $10 billion, mid cap companies usually contain higher growth prospects than large cap companies, and are considered less risky than their small cap counterparts. Thus, companies that fall under this category provide a stable and growth-heavy investment.
While growth stocks do boast higher than average sales and earnings growth rates, and they are expected to grow faster than the wider market, investors should note these kinds of stocks have higher valuations. Further, growth stocks have a higher level of volatility associated with them. They are likely to outperform value stocks in strong bull markets but over the longer-term, value stocks have delivered better returns than growth stocks in almost all markets.
Costs
When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0.70%, making it the most expensive products in the space.
It has a 12-month trailing dividend yield of 0.05%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Information Technology sector--about 25.80% of the portfolio. Healthcare and Industrials round out the top three.
Looking at individual holdings, Array Biopharma Inc. (ARRY) accounts for about 1.35% of total assets, followed by Okta, Inc. (OKTA) and Erie Indemnity Company (ERIE).
The top 10 holdings account for about 9.56% of total assets under management.
Performance and Risk
FNY seeks to match the performance of the Nasdaq AlphaDEX Mid Cap Growth Index before fees and expenses. The NASDAQ AlphaDEX Mid Cap Growth Index is an enhanced which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 600 Mid Cap Growth Index.
The ETF has added about 24.46% so far this year and was up about 5.33% in the last one year (as of 06/28/2019). In the past 52-week period, it has traded between $33.42 and $47.12.
The ETF has a beta of 1.13 and standard deviation of 16.46% for the trailing three-year period, making it a medium risk choice in the space. With about 225 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Mid Cap Growth AlphaDEX Fund holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, FNY is an outstanding option for investors seeking exposure to the Style Box - Mid Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well.
The iShares S&P Mid-Cap 400 Growth ETF (IJK) and the iShares Russell Mid-Cap Growth ETF (IWP) track a similar index. While iShares S&P Mid-Cap 400 Growth ETF has $7.55 B in assets, iShares Russell Mid-Cap Growth ETF has $10.85 B. IJK has an expense ratio of 0.25% and IWP charges 0.25%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFirst Trust Mid Cap Growth AlphaDEX Fund (FNY): ETF Research ReportsiShares Russell Mid-Cap Growth ETF (IWP): ETF Research ReportsErie Indemnity Company (ERIE) : Free Stock Analysis ReportArray BioPharma Inc. (ARRY) : Free Stock Analysis ReportOkta, Inc. (OKTA) : Free Stock Analysis ReportiShares S&P Mid-Cap 400 Growth ETF (IJK): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research |
Tesla Model S Fire in Shanghai: 10 Things to Know
The reason behind the Tesla Model S fire in Shanghai in April has been revealed.Source: Via FlickrHere's what we know about Tesla's (NASDAQ:TSLA) findings concerning the Model S fire. * Tesla reports that the Model S fire was due to a one battery module in the front of the vehicle catching fire. * There were no errors or defects in the vehicle that were the cause of the fire. * That information was gained via a joint investigation between Tesla and experts in the U.S. and China. * The update from Tesla was posted on its official Weibo social media account today. * The company doesn't reveal any further details about what caused the fire. * However, it does mention that its electric vehicles are 10 times less likely to catch fire than gasoline ones. * A result of this recent incident is Tesla sending out a software update to its vehicles to try and prevent further issues. * That update has it changing charging and heat management options for its Model S and Model X electric vehicles. * The Tesla Model S fire originally took place on April 21. * The electric car was sitting in a parking garage when the fire broke out. * The 7 Top Small-Cap Stocks Of 2019 You can follow these links to learn more about the Tesla Model S fire in Shanghai.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTSLA stock was largely unaffected by the news as of Friday morning.You can check out a video of the Tesla Model S fire in Shanghai below. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 7 Top Small-Cap Stocks Of 2019 * Critical Levels to Watch in 7 Marijuana Stocks * 5 Smaller Cloud Stocks That Have Plenty of Potential As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Tesla Model S Fire in Shanghai: 10 Things to Know appeared first on InvestorPlace. |
Should You Invest in the Fidelity MSCI Energy Index ETF (FENY)?
The Fidelity MSCI Energy Index ETF (FENY) was launched on 10/21/2013, and is a passively managed exchange traded fund designed to offer broad exposure to the Energy - Broad segment of the equity market.
An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Energy - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 9, placing it in bottom 44%.
Index Details
The fund is sponsored by Fidelity. It has amassed assets over $471.75 M, making it one of the larger ETFs attempting to match the performance of the Energy - Broad segment of the equity market. FENY seeks to match the performance of the MSCI USA IMI Energy Index before fees and expenses.
MSCI USA IMI Energy Index represents the performance of the energy sector in the U.S. equity market.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.08%, making it the least expensive product in the space.
It has a 12-month trailing dividend yield of 3.25%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Energy sector--about 99.60% of the portfolio.
Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 23.71% of total assets, followed by Chevron Corp (CVX) and Conocophillips (COP).
The top 10 holdings account for about 67.40% of total assets under management.
Performance and Risk
Year-to-date, the Fidelity MSCI Energy Index ETF has gained about 10.70% so far, and is down about -17.05% over the last 12 months (as of 06/28/2019). FENY has traded between $14.63 and $21.82 in this past 52-week period.
The ETF has a beta of 1.17 and standard deviation of 19.55% for the trailing three-year period, making it a high risk choice in the space. With about 135 holdings, it effectively diversifies company-specific risk.
Alternatives
Fidelity MSCI Energy Index ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, FENY is a good option for those seeking exposure to the Energy ETFs area of the market. Investors might also want to consider some other ETF options in the space.
Vanguard Energy ETF (VDE) tracks MSCI US Investable Market Energy 25/50 Index and the Energy Select Sector SPDR Fund (XLE) tracks Energy Select Sector Index. Vanguard Energy ETF has $3.44 B in assets, Energy Select Sector SPDR Fund has $12.15 B. VDE has an expense ratio of 0.10% and XLE charges 0.13%.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportFidelity MSCI Energy Index ETF (FENY): ETF Research ReportsEnergy Select Sector SPDR Fund (XLE): ETF Research ReportsVanguard Energy ETF (VDE): ETF Research ReportsChevron Corporation (CVX) : Free Stock Analysis ReportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportConocoPhillips (COP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research |
Wedding beauty essentials to look your best (as a guest)
Yahoo Lifestyle’s shopping team is committed to finding you the best products at the best prices. We may receive a share from purchases made via links on this page. Weddings can be pricey, but it doesn’t cost a small fortune to look your best, especially as a guest. (Photo: Getty Images) Wedding season is officially here. And if you’re spending your summer attending back-to-back weddings, a well-packed beauty bag is essential. Whether you’re going to a beachside wedding or a black tie affair , you’re going to be in lots of photos, so naturally, you want to look your best. Regardless of your outfit choice, you can easily complement the look with gorgeous makeup and chic hair using just a few products. And the best part is, some of the best long-wear makeup and hair-boosting products don’t cost a small fortune. From a flattering rose lipstick you can wear with anything to a curl-enhancing cream that adds bounce and shine to your natural strands, we rounded up all the beauty essentials you’ll need this wedding season. Maybelline Instant Age Rewind Concealer Maybelline Instant Age Rewind Concealer. (Photo: Walmart) It all starts with a hydrating concealer to cover blemishes and brighten the under-eye area so that you can look camera-ready. This one is made with goji berry and haloxyl, which work together to reduce dark circles and boost circulation in the area. Shop it : $8, walmart.com L'Oréal Paris Voluminous Lash Paradise L'Oréal Paris Voluminous Lash Paradise. (Photo: Walmart) There’s a reason thousands of drugstore shoppers swear by this volume-boosting mascara: Its 200-plus bristles catch every last lash from root to tip, delivering full, fluttery lashes in just one coat. Shop it : $9, walmart.com SheaMoisture Coconut & Hibiscus Curl Enhancing Smoothie SheaMoisture Coconut & Hibiscus Curl Enhancing Smoothie. (Photo: Walmart) If you have natural curls, this is the one product you’ll need to moisturize strands, add body and control frizz. The all-in one curl-enhancing cream really does it all without weighing down your hair. Shop it : $12, walmart.com Beachwaver Ceramic Rotating 1.25-inch Curling Iron Beachwaver Ceramic Rotating 1.25-inch Curling Iron. (Photo: Bed Bath & Beyond) If you’re looking to amp up your ‘do for the festivities, this rotating hair curler is your answer. The dual-voltage tool does all the work for you, delivering salon-worthy curls and beach waves in record time. It’s totally foolproof! Shop it : $130, bedbathandbeyond.com Moroccanoil Dry Texture Spray Moroccanoil Dry Texture Spray. (Photo: Sephora) Whether you need to revive third-day hair or want to add tousled volume, a few sprays of this texture spray will do the trick. The argan oil-infused formula adds body and texture while helping keep your style in place. Shop it : $28, sephora.com Charlotte Tilbury Hot Lips 2 Lipstick in In Love With Olivia Charlotte Tilbury Hot Lips 2 Lipstick in In Love With Olivia. (Photo: Charlotte Tilbury) You can never go wrong with a flattering rose shade of lipstick. This neutral-pink is packed with pigment for a gorgeous, lit-from-within glow and its formula will keep lips hydrated all night long. Story continues Shop it : $37, charlottetilbury.com MAC Prep + Prime Fix+ Makeup Setting Spray MAC Prep + Prime Fix+ Makeup Setting Spray. (Photo: Ulta) The secret to great makeup is this holy grail spray from MAC Cosmetics. The longtime favorite among makeup artists sets makeup, refreshes skin and ensures your makeup stays put no matter how long you’re on the dance floor. Shop it : $28, ulta.com Essie Gel Couture Nail Polish in Fairy Tailor Essie Gel Couture Nail Polish in Fairy Tailor. (Photo: Walmart) Top off your outfit with the perfect accessory: A flawless manicure. This sheer shade from Essie’s long-lasting Gel Couture line is the perfect neutral to match any outfit. Shop it : $10, walmart.com Neutrogena Makeup Remover Cleansing Face Wipes Neutrogena Makeup Remover Cleansing Face Wipes. (Photo: Walmart) When the party ends and you’re ready for bed, reach for one of these ultra-soft cleansing wipes to remove any trace of makeup, including stubborn waterproof mascara. Shop it : $9, walmart.com Read More from Yahoo Lifestyle: The 8 best sweat-proof foundations for summer – for all skin types Do hair vitamins really work? Here’s what a dermatologist says. The one product a dermatologist will always tell you to use Follow us on Instagram , Facebook , Twitter , and Pinterest for nonstop inspiration delivered fresh to your feed, every day. Want daily pop culture news delivered to your inbox? Sign up here for Yahoo’s newsletter. View comments |
Pending home sales bodes well for summer, shuts down haters
People love to say the sky is falling whenever new real estate data comes out. Yesterday’s pending home sales release is no exception. Let’s run down the numbers and see if the haters are right.
PENDING HOME SALES (MAY 2019)
– 1.1% increase in pending home sales in May
– Year-over-year sales fell 0.7%
– 17th straight month of year-over-year decreases
WHY SHOULD I CARE?
It’s easy to look at a stat like 17 straight months of declines and worry about where home sales are headed, but let’s take a closer look.
Pending home sales show how many people are signing contracts to buy homes in a given month, so you can use it to estimate how manyexisting home saleswill close in the following months.
There are two kinds of economic indicators—lagging and leading. Lagging indicators show us where the economy has been, and leading indicators like pending home sales show us where it’s going.
The last couple crucial leading indicators have had good news for home buyers and sellers.
– Homebuilders arebuilding more homes, a sign of economic confidence.
– There are a sh*tload ofjob openings, which means businesses are hungry to hire and grow.
While pending home sales aren’t skyrocketing, they still rose in May, which tells us spring selling is still hot and summer is setting up decently.
Leading indicators generally start to consistently go sour a year or two before a recession. We’re not seeing that yet.
And if you have your heart set on buying a home, you’re not reallydeciding based on macro factors, are you?
No. You’re focused on your local market, the schools you want your kids to go to, andhow sweet your upgraded kitchen will look.
That’s why we’re here to translate all this stuff for you so the haters don’t leave you twisted.
If you ever have questions, hit us up via the buttons below.___Reference:
–Home buyers and sellers get good home sale news today (The Basis Point)
–Why U.S. Housing Market May Be Healthier Than We Think (The Basis Point)
–The jobs report nobody talks about tells us 2 critical things about the economy (The Basis Point)
–What’s more redeemable, capitalism or your outdated kitchen? (The Basis Point)
–Would a down stock market make you bail on your dream home? (The Basis Point)
STAT FIGHT! Who’s winning the battle for jobs?
Linkage: Trump said it, so it’s official. Bitcoin is not money.
Make The Fed Political Again—July 2019 Edition |
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