The catalysts behind the rally in gold are a report that said the U.S. and China had hit a snag in negotiations over tariff rollbacks, and President Trump’s threat to raise tariffs.
Cheap stocks are hard to find with the S&P; 500 up 24% this year. Top S&P; 500 stocks with low valuations are out there. Warren Buffett already owns two.
Nov.21 -- Ray Dalio, the billionaire founder of investment management firm Bridgewater Associates, talks about the global economy, financial markets, and policies. He speaks at Bloomberg's New Economy Forum in Beijing.
Some 660 companies moved 765 facilities out of California in the past two years, and Dallas-Fort Worth has been the beneficiary of many of the relocations, according to a new report. The departures from the Golden State between January 2018 and now involve corporate headquarters, manufacturing facilities, data centers, research hubs, software and engineering centers and a few warehouses.
CFPB Director Kathy Kraninger told Yahoo Finance she feels her biggest win at the agency is financial literacy, despite criticism that the agency should do more to police consumer abuses.
Real estate has long been a traditional haven for investors seeking reliable returns. Ownership of real property brings with it control of the structures on the land, and the ability to develop or improve the property. And real estate is always in demand – whether its people looking for homes, or business needing office or factory space, properties will always have customers.Bring on the real estate investment trust (REIT). These are companies formed to acquire, own, and operate real properties. REITs are frequently constituted as publicly traded companies, as acquisition of property requires access to liquid capital, which they raise through the sale of stock. Partly to attract investors, and partly in adherence to tax regulations on investment trusts, REITs routinely pay out high dividends on their stock.In this article, we take a look at three REIT companies. All three make their money from the value of land and its development, and all three are clobbering the S&P 500 average dividend return of 2%. It also doesn't hurt that each of the stocks has amassed support from analysts over the last three months to earn a “buy” rating. Let’s open up the TipRanks database and get the lowdown.Colony Capital (CLNY)Colony is an investment firm, based in Los Angeles. The company’s main focus is on two property portfolios in gaming and resorts. Colony owns casino and hotel properties in Atlantic City and Las Vegas, as well as luxury hotels in the Raffles and Fairmont chains. In recent months, Colony has been selling off some properties and acquiring others, as part of a plan to divest itself of non-core portfolio item.For the third quarter, CLNY reported an FFO (funds from operations – a measure of operational cash flow sometimes used by REITs instead of reporting earnings per share) of 19 cents, 26% higher than the forecasts. Revenues showed a mixed picture – at $40 million, they beat the forecast by 16%, but still came in significantly lower than the year-ago figure of $60 million.This firm currently pays out a dividend of 11 cents per quarter, so the 19 cents FFO is more than enough to maintain the payment. The annualized payout, 44 cents, is equivalent to a yield of 8.94%, four and a half times the S&P average. Writing from JMP Securities, 4-stary analyst Mitchell Germain is impressed by Colony’s recent portfolio moves. He notes particularly “Acquisition of Digital Bridge for $329M, brought on a well-regarded investment manager, erected a leadership transition plan, as the head of Digital Bridge is set to become CLNY’s CEO in 18-24 months, and initiated a strategy to evolve to a digital-heavy investment strategy.”Germain rates CLNY an Outperform (i.e Buy) along with an $8 price target, which suggests over 60% upside for the stock. (To watch Germain's track record, click here)Randy Binner, of B. Riley FBR agrees, both on the bullish stance and the $8 price target. Binner writes, “There has been a series of recent shareholder-friendly moves including the NRE and industrial sales and the Digital Bridge acquisition/CLNY 2.0 pivot. These structural changes will remain the main focus and will determine where the dividend settles out… there is significant intrinsic value in CLNY's balance sheet…”Germain and Binner have given Colony its only recent analyst evaluations, explaining the stock’s Moderate Buy status. Shares are selling for a low $4.92, and the price target is $8. (See Colony stock analysis on TipRanks)Landmark Infrastructure Partners (LMRK)Landmark takes a slightly different approach to the REIT niche. It buys up land and properties that are in demand for wireless communication, billboards, and green energy infrastructure. In other words, Landmark owns the ground under a cellular tower or a windfarm power station. The company has properties across the United States as well as in Canada, the Caribbean, and Australia.Landmark is always engaged in expanding its property portfolio. In the recent Q3 report, the company noted that it spent $42 million acquiring 134 assets which are expected to contribute $3.4 million in annual rents. The company is also expanding into retail kiosks, from which vendors will pay rent. There are some 300 such kiosks in the Dallas Area Rapid Transit region. LMRK generated $14.4 million in rents in Q3, down 18% year-over-year and 4% sequentially, but still sufficient to give a 20 cent per share FFO. Total rental income is described by the CFO as “stable and predictable.” LMRK stock is up 30% year-to-date.LMRK pays out an annualized dividend of $1.47 per share, or 49 cents per quarter. This makes the yield an impressive 9.77%. While much higher than the FFO per share, it’s important to note here that REITs are subject to tax regulations requiring them to pay out a higher share of income in dividends than other publicly traded companies. Landmark has kept its dividend steady at 49 cents per share quarterly for the last two years, regardless of FFO fluctuations. The company depends on the predictability of its rent income to keep the dividend sustainable.Liam Burke, analyst from B. Riley FBR, sees a turnaround in LMRK’s overall profitability in the near future. He writes, “Third quarter 2019 will be the final quarter of negative Y/Y rental revenue growth and the company should report traditional organic rental growth rates of low single-digits beginning 4Q19… Management is keeping keep the payout constant until distributable cash catches up to distributions, which should occur in 2020…” Burke’s $20 price target suggests a 32% upside for LMRK shares. (To watch Burke's track record, click here)With three "buys" set in recent weeks, LMRK holds a Strong Buy from the analyst consensus. The average price target of $18.67 is 24% higher than the current share price of $15. (See Landmark stock analysis on TipRanks)MFA Financial (MFA)MFA focuses on residential mortgage assets. This includes mortgage-backed securities as well as whole loans. Residential mortgages are considered a low-risk security, as the loan is backed by the value of the home and property.In its most recent earnings report, for Q3, MFA showed an EPS of 20 cents per share. This was 11% higher than expected, and 1 cent higher than the year-ago quarter. Revenues were listed at $56.9 million, below both the quarterly forecast and the year-ago quarter. Despite the downer news for Q3, MFA shares are up 14% in 2019. While below the S&P gain of 24%, this is still considered a ‘slow and steady’ appreciation.MFA has been paying out a steady 20 cent quarterly dividend for the last three years. The ratio is 100%, meaning that as of the current quarter, the company’s full earnings are returned to shareholders. This is an attractive feature for potential investors. In theory, it should be difficult for the company to sustain – but as an REIT, MFA is required to maintain the high payout ratio. The dividend yield is a robust 10.47%, more than 5x the average of S&P listed companies.Wedbush analyst Henry Coffey started coverage of this stock recently, noting, “This is another quarter where MFA has been able to cover their dividend and demonstrated the benefit of their focus on managing credit risk over speeds and spread risk, and their focus on the whole loan/performing loan purchase program. Their success at this, in comparison to many of the mREIT peers, is notable.”Coffey rates the stock a Buy and his $8.25 price target suggests a modest 8% upside to the stock. (To watch Coffey's track record, click here)MFA Financial has slipped under most analysts’ radar; the stock’s Moderate Buy consensus is based on just two recent ratings. With shares trading at $7.64, the $8.13 average price target suggests room for a 6% upside. (See MFA stock analysis on TipRanks)
Some on Wall Street are skeptical about the new Tesla Inc. pickup truck — it could be so futuristic that it would leave traditional pickup buyers unhappy with its design.
A Triangle drugmaker continues to pile up funding in an end-of-year blitz ahead of its anticipated commercial roll-out.
Dow Jones futures: The Tesla cybertruck event is on tap tonight. Ross Stores, Pure Storage, Splunk were earnings movers.
Use these 9 signs to gauge the state of your investments, find strategies to improve them, and get on course to a financially successful retirement.
Cloud computing offers an array of investing opportunities from internet architecture to consumer and business services on the web.
(Bloomberg) -- Charles Schwab Corp.’s plan to buy TD Ameritrade Holding Corp. for $26 billion is proving a boon for the fortunes anchored by two of America’s biggest brokerages.TD Ameritrade founder Joe Ricketts is set to add $400 million to his $2.4 billion net worth after his firm’s shares rose 21% in Thursday. Charles Schwab’s $8.8 billion fortune will increase by about $500 million based on his company’s gains. The deal is worse news for Thomas Peterffy, chairman of rival Interactive Brokers Group Inc., whose net worth was down about $100 million at 11:50 a.m. in New York.The transaction could be announced as early as Thursday, according to a person familiar with the matter. It would create a firm with roughly $5 trillion in combined assets, consolidating an industry under pressure from a price war that escalated when Schwab last month announced plans to eliminate commissions for U.S. stocks, exchange traded funds and options.The combination may pose a threat to fund managers such as Vanguard Group Inc. and BlackRock Inc., according to Bill Capuzzi, chief executive officer of Apex Clearing, a custodian that focuses on fintech firms.“It signals Schwab is going to continue to lean really hard into the advisory side,” he said. “A gigantic percentage of the advisory world will be leveraging one firm for passive custody and clearing services.”For Schwab, the net worth gain may be particularly sweet. In an October interview, he criticized wealth taxes like those proposed by Democratic presidential candidates Bernie Sanders and Elizabeth Warren as a “negative reward for success.”Other winners from the potential acquisition include Toronto-Dominion Bank, which owns 43% of TD Ameritrade, and Canadian insurer Sun Life Financial Inc. with a 3.9% position as of Sept. 30. Generation Investment Management LLP, the firm co-founded by former U.S. Vice President Al Gore, owned a 2% stake in Schwab at the end of the third quarter.(Updates net worth totals in second paragraph, adds Apex CEO’s comment in fourth.)To contact the reporter on this story: Tom Metcalf in London at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, ;Michael J. Moore at email@example.com, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The world’s population is getting older, rapidly. According to the United Nations, the fastest-growing age group across the world is adults aged 65 and older, with it predicting one out of every six people will be 65 or older by 2050. This means that the age group will make up 16% of the world’s total population, 9% higher than it was in 2011, with this figure expected to be larger in North Africa and Europe.To this end, investors are looking for ways to capitalize on the growing opportunity within the healthcare space. In order to pinpoint the most compelling opportunities capable of delivering handsome returns through 2020 and beyond, we turned to the seasoned pros from investing firm Cowen & Co.Using TipRanks.com, we were able to get the full scoop on 3 healthcare stocks that the firm’s top rated analysts are picking. If it wasn’t enough that each has received enough Street Support over the last three months to achieve a “Strong Buy” consensus rating, all of the names boast impressive upside potential. We’re talking more than 45% here.BioMarin Pharmaceutical (BMRN) BioMarin is best known for developing innovative therapies to meet the needs of patients with orphan disease, a group of diseases that affects less than 200,000 people in the U.S. The group includes cystic fibrosis, Lou Gehrig's disease, Tourette's syndrome as well as several others.Even though shares have experienced some rockiness year-to-date, 5-star Cowen analyst Phil Nadeau reminds investors that BMRN has demonstrated portfolio-wide progress. Its Naglazyme drug remains the only treatment option for the 1,000 people with MPS-VI, an inherited life-threatening disease caused by a deficiency of the enzyme normally required for the breakdown of certain complex carbohydrates known as glycosaminoglycans (GAGs). According to the analyst’s forecasts, the drug could generate revenue of $470 million in 2024, up from $346 million in 2018.The biotech isn’t stopping there. During BMRN’s recent investor R&D day, the company announced that data from its extended Phase 2 trial of Vosoritide, its drug designed to treat Achondroplasia, a bone growth disorder, suggested positive results in terms of efficacy. As management pointed out that the results can most likely be replicated, it’s no wonder Nadeau is excited. “We are optimistic for success in the Phase 3 study and we think that should the Phase 2 profile be replicated, this would drive wide and rapid adoption,” he commented.With substantial steps forward for its hemophilia A treatment and its gene therapies for PKU and HAE, Nadeau concludes that BMRN is a Buy. Not to mention the analyst’s $150 price target indicates that shares could double in the next twelve months. (To watch Nadeau’s track record, click here)In general, the rest of the Street also likes what it’s seeing. 11 Buy ratings and 3 Holds assigned in the last three months amount to a ‘Strong Buy’ ranking. Additionally, the $109 average price target brings the upside potential to 40%. (See BioMarin stock analysis on TipRanks)SAGE Therapeutics (SAGE)SAGE wants to offer better treatment options for patients with neuropsychiatric disorders such as postpartum depression (PPD) and major depressive disorder (MDD). While results from its most recent quarter failed to impress, Cowen thinks that there’s plenty of room for growth here.Analyst Ritu Baral notes that during the third quarter, its Zulresso drug, which launched in Q2 with small revenues, demonstrated lackluster sales growth. The analyst believes that as sales are likely to maintain slow growth until the second half of 2020, investors should instead focus on the upcoming SAGE-217 Phase 3 readout for MDD in the fourth quarter.The results from its Phase 2 study were resoundingly positive, as they demonstrated significant levels of efficacy. This lends itself to Baral’s argument that SAGE-217 “provides significant blockbuster market potential”. “Topline data from the Ph3 MOUNTAIN trial evaluating SAGE-217 in MDD is expected to be a major catalyst for SAGE shares. Therefore, in our view, this could lead to about 30-40% upside for shares,” the Cowen analyst explained.Baral adds, “We believe SAGE has a strong CNS pipeline with several potentially value-creating shots on goal over the next few years.” Bearing this in mind, the five-star analyst reiterated the bullish call and $207 price target. This target conveys her confidence in SAGE’s ability to surge about 40% over the next twelve months. (To watch Baral’s track record, click here)Similarly, Wall Street takes a bullish approach when it comes to SAGE. With 7 Buys and 1 Hold, the consensus among analysts is that the biotech name is a ‘Strong Buy.’ Its $204 average price target implies 35% upside potential from today's closing price. (See SAGE stock analysis on TipRanks)NGM Biopharmaceuticals (NGM)Using its unique “in vivo” discovery approach to characterize relevant biological processes, NGM has been able to create novel compounds to fight diseases like non-alcoholic steatohepatitis (NASH). NASH is an inflammatory liver disease that can cause too much fat to accumulate in the liver.While the company posted a $10.9 million net loss in Q3, the outcome of its Phase 2a Cohort 4 study for lead candidate Aldafermin could drive a turnaround. Top-line data for the PBO-controlled biopsy to evaluate its ability to treat NASH are expected to be released in the first quarter of 2020.Ritu Baral, who also covers NGM, highlights the fact that “the compound has previously shown robust decreases in MRI-PDFF and demonstrated regression of fibrosis (the thickening and scarring of connective tissue) by 1 stage in 25% and 42% of patients treated with aldafermin 1mg and 3mg respectively at 12-weeks.”It also doesn’t hurt that the company’s pipeline includes candidates for oncology and ophthalmic conditions that are in earlier development, as well as its NGM313 humanized antibody in development for NASH and type 2 diabetes.All of this contributed to Baral’s decision to maintain her bullish thesis. “We believe NGM Bio’s precision biology pipeline has significant promise in multiple diseases with high unmet need,” she noted. Along with the Buy recommendation, the $25 price target puts the potential twelve-month gain at a whopping 70%.The rest of the Street appears to mirror Baral’s sentiment. With 4 Buys received in the last three months compared to no Holds or Sells, the message is clear: NGM is a ‘Strong Buy’. On top of this, shares could soar 61% in the next twelve months based on the $23.67 average price target. (See NGM stock analysis on TipRanks)
FT subscribers can click here to receive Tech Scroll Asia by email. There will be a top-level panel plus a medley of Tech Scroll Asia writers pitching their big tech themes for 2020. Hi everyone — China is on the brink of a breakthrough in semiconductor self-sufficiency.
Canopy Growth Corp (NYSE: CGC) released second-quarter financial results that sent the stock trading lower last week. To better understand what’s going on, Benzinga reached out to CEO Mark Zekulin, who became the company’s public face after Bruce Linton stepped down in July. The CEO is enthusiastic about Canopy's future and the quarterly results are a natural setback as the legal cannabis market develops.
Marijuana stocks surged Thursday on promising regulatory develops in the U.S. and Canada to give one major weed ETF its best day of 2019.
How to invest your retirement money. After years of investing for retirement, how to invest money after retirement should be straightforward. Investing after retirement is anything but straightforward.
Nov.20 -- Vlad Tenev, Robinhood Markets Inc. co-founder and chief executive officer, discusses the company's plans to offer its stock-trading service in the U.K. in the first quarter of 2020 and comments on the company's recent leverage glitch. He speaks with Bloomberg's Guy Johnson and Vonnie Quinn on "Bloomberg Markets."
Kohl's Corporation (NYSE: KSS) disappointed investors Tuesday with an EPS miss in its third-quarter report, along with a downward revision in its full-year outlook. Wedbush analyst Jen Redding maintains a Neutral rating on Kohl's stock with a price target lowered from $53 to $50. Baird analyst Mark Altschwager maintains at Outperform, price target lowered from $65 to $58.
The Wall Street Journal on Wednesday told investors that a “mysterious marble bubble” was coming soon to your index funds. Well, that didn’t happen. And the stock paid the price in a big way.
(Bloomberg) -- The most-delayed U.S. corn harvest on record has divided the Midwest market, jumbling trade routes for the grain that usually flows south.Signs of ample global supplies have weighed on Chicago futures, spurring farmers in eastern areas to hold back supplies in the hope of better prices. They were hurt more by a spring-time deluge than growers in the west.But their hoarding has pushed up the region’s prices in the physical market above futures, while those in the west remain below -- creating what’s known as a basis arbitrage opportunity.This dynamic has started to draw some cargoes from the west to supply corn processors, ethanol plants or animal-feed makers starved by farmer hoarding in the east. A few shipments have already started to flow in that direction, in a trade known as moving grain “over Chicago.” Typically, corn goes from growing areas in the Midwest to the south, where it gets exported.“Corn from the west going to east? It should happen at some point but it’s not the way the U.S. market is set up to transport,” Dan Basse, president of consulting firm AgResource, said in an interview at the Global Grain conference in Geneva last week. “If basis is strong enough, we will get that pull into Ohio.”While the basis arbitrage isn’t yet enough to move large amounts of grain from west to east, “it doesn’t take much” for that to change, Pat Bowe, chief executive officer at U.S. crop handler Andersons Inc., said in an interview from the Baird conference in Chicago earlier this month.“There’s still a lot of corn out there, that’s a thing that’s amazing and people forget,” Bowe said. “The problem has been that with the low flat price, the farmer has been reluctant to sell so there’s a lot of on-farm storage and farmers have corn tucked away, they just don’t want to sell at $3.50 a bushel.”Getting farmers to sell crops has been especially difficult this year as a $28 billion government bailout has helped growers battle falling income due to President Donald Trump’s trade war with China. Corn prices have also been under pressure as U.S. crops in general withstood record spring rain better than first thought and Brazil gathered a bumper harvest.Unusually high corn bases for this time of year have also hurt export earnings for some of the world’s largest agricultural commodity traders and ethanol makers. Outstanding sales for U.S. corn exports so far in the 2019-2020 season are trailing the year earlier pace by 32%, government data show.But flows could still change in their favor if Archer-Daniels-Midland Co., the ‘A’ in the storied ABCD quartet of crop giants that have dominated the market for more than a century, turns out to be right.Chicago-based ADM expects farmer selling to ramp up next year as growers make space for their next crop, Chief Financial Officer Ray Young said in an earnings call last month. Pacific Ethanol Inc. CEO Neil Koehler agrees. More plantings next year will also help alleviate the pressure, he said earlier this month.“At some juncture, corn will get commercialized,” Young said. “There will be a break in the basis here and that will benefit the originators like us.”To contact the reporters on this story: Isis Almeida in Chicago at firstname.lastname@example.org;Dominic Carey in Washington D.C. at email@example.comTo contact the editors responsible for this story: Tina Davis at firstname.lastname@example.org, James Attwood, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cannabis stocks rallied across the board Thursday, as investors returned to the beaten-down-sector with a fresh enthusiasm, following a historic House vote in favor of a bill that would lift the federal ban on weed.