Shares of SunPower Corp. (spwr) sank 5.1% in premarket trading Monday, after the solar power company said it plans to sell 22 million shares of common stock to the public. The company plans to use the proceeds from the offering for general corporate purposes, which could include paying down its 0.875% convertible debt due in 2021. The offering would increase the shares outstanding by about 15%.
Hypothecation is the practice of pledging collateral in order to secure debt. This comes up most often in mortgage lending, but it can apply to any kind of debt. It shows up in investing, but hypothecation and riskier rehypothecation can have consequences for homeowners.
Jan-Pieter Jansen, a 77-year-old retiree from the Netherlands, had high hopes for a worry-free retirement after having saved diligently into a pension during his working life. “This is causing me a lot of stress,” says Mr Jansen, who retired 17 years ago and hoped to use his pension pot to treat his grandchildren and afford good hotels on holidays. Mr Jansen is not alone in experiencing pension pain.
Investors who bailed on (QGEN) over a spate of bad news last month may be kicking themselves, as the Dutch diagnostics company appears to have more than one suitor lining up. Shares of Qiagen jumped 13% on Monday—one of the best performers on the Stoxx Europe 600 index.A statement late on Friday said it had entered into discussions to “explore potential strategic alternatives” after receiving ”several nonbinding indications of interest. The stock is hovering at levels not seen since 2000, gaining 28% last week after Bloomberg reported Thermo Fisher Scientific was weighing a takeover.
Warren Buffett's Berkshire Hathaway Inc.'s may have sold some Apple Inc. shares during the third quarter, but its ownership stake in the technology giant actually increased, as the value of the investment swelled by more than $6 billion. Apple's stock (AAPL) climbed 1.2% Friday to close at a record high for the seventh time this month. In a 13F filing with the Securities and Exchange Commission late Thursday, Berkshire (BRK)(BRK) disclosed what amounts to a rebalancing of its Apple investment, as the number of shares it owned declined by 750,650 to 248,838,679 shares as of Sept. 30, from 249,589,329 shares as of June 30.
The Takeaway The research arm of payment card giant Visa has published a paper describing the development of LucidiTEE, a blockchain system for orchestrating sensitive data among multiple parties. For example, the paper outlines a system that would allow banks and fintech applications to share data without relying on intermediary data aggregators. While Europe has relied on legislation like GDPR to set standards for securely sharing customer data, US banks had to develop agreements with data aggregators.
Should you take your RMD by getting the cash or transferring the stock to another account? According to Michael J. Garry, managing member and chief compliance officer at Yardley Wealth Management, it doesn't matter for tax purposes. "There is usually little, if any, tax efficiency added by taking in-kind distributions instead of cash.
Richard Harris, chief executive officer at Port Shelter Investment Management, discusses the U.S.-China trade talks and his outlook for the negotiations and the markets. He speaks on “Bloomberg Markets: Asia.
A growing logistics company headquartered in Dayton is eyeing a new market. Iuvo Logistics, a transportation management solutions provider that in 2019 was named one of the fastest-growing private companies in the nation, plans to invest millions of dollars to expand its presence in the midwest. Company leaders David White and James Dowd told me Iuvo is expanding in several areas — including in Cincinnati, Chicago and Memphis — but its main focus is further south.
The U.S. Federal Reserve, the country's central bank, has said that stablecoin projects such as Facebook-led Libra could become a "new medium of exchange" if properly designed and regulated. Libra like global stablecoin initiatives “have the potential to rapidly achieve widespread adoption,” said the central bank in its latest Financial Stability Report published Friday. “In an extreme scenario, holders may be unable to [liquidate], with potentially severe consequences for domestic or international economic activity, asset prices, or financial stability,” according to the central bank.
Every October the Social Security Administration (SSA) announces its annual changes to the Social Security program for the coming year. Here are the Social Security changes that were announced in October 2018 and took effect on Jan. 1, 2019, according to the SSA's annual fact sheet. Keep them in mind when you update your social security information.
The FBI tried to warn Bank of America against an ill-fated leveraged buyout led by former Blackstone dealmaker Chinh Chu, telling an executive that “the entire transaction was setting alarms off, and there was a concern that someone was attempting to defraud” the bank. BofA faces steep potential losses after ignoring the warnings about now-bankrupt Constellation Healthcare Technologies, which are detailed in FBI files made public by a federal court last week. It was the first acquisition for his investment vehicle CC Capital, which he created after ending his 25-year stint working on multibillion-dollar transactions for Blackstone.
Smith used this chart to help make his point: “Calling QE not-QE doesn't make it different than QE,” Smith wrote. The Fed's level of panic is noteworthy, as is the absurd transparency of its laughable attempt to conceal its panic. And with that panic, Smith believes that the recent pop to new highs in the stock market could finally mark that elusive blowoff top.
Another is to invest the money in a standard portfolio, typically one diversified with mutual fund, stock, and bond investments, then withdraw a fixed percentage of that portfolio each year to pay living expenses. Immediate Annuities The Good For retirees who worry about running out of money at some point, an immediate annuity offers perhaps the single most attractive feature of any retirement product: a fixed-income stream that is guaranteed for life—whether the purchaser dies the day after buying the annuity or lives to be 120. Immediate annuities are sold by life insurance companies.
Stocks on Wall Street have soared to fresh record highs, but it's not because the economy is flashing a big thumbs-up sign. The economy is still expanding, to be sure, and sporadic worries about recession have faded again. More evidence of a slowdown emerged in a pair of recent reports on industrial production and retail sales — windows into how businesses and consumers are faring.
While investors want to protect their assets in case of a downturn, it's important to avoid major mistakes, experts say, such as trying to time the market or selling all your investments in fear. The 2008 recession – when $7.4 trillion was lost in stock wealth from July 2008 to March 2009 – still feels fresh for many investors. It colors their anxieties about what might happen in the next rough patch, says Brad McMillan, chief investment officer for Commonwealth Financial Network.
Aurora Cannabis Inc. shares suffered through their worst trading session in more than five years Friday, after an earnings report that included disappointing numbers and plans to cut spending sent analysts racing to cut their forecasts for the Canadian marijuana producer. Aurora's (ACB) revenue declined by 24% sequentially in its fiscal first quarter, and the second largest public weed company by sales cancelled or delayed plans for multiple further facilities expansions and converted C$155 million in debt into shares as it seeks to conserve cash. Investors responded by sending the stock on a 17.2% decline to $2.73, the largest single-day percentage decline for Aurora shares in more than five years and the lowest closing price since October 2017.
FedEx Corp. Chief Executive Fred Smith had a combative response to a New York Times report that detailed how the delivery giant cut its tax bill to zero: Debate me! The Times on Sunday reported that, between 2017 and 2018, FedEx (FDX) cut its tax bill from $1.5 billion to zero, as its effective tax rate sank from 34% to less than zero. The Times said the savings came after intense lobbying by the company — and Smith in particular — for the Trump administration's tax cuts.
Medigap Medicare Supplement Insurance, also called Medigap coverage, protects people who buy traditional Medicare against many of the additional costs a patient might pay. In return, Medigap charges a premium in addition to what the person already pays for Medicare Parts A (many people get this free), B, and D. Just to make life truly confusing, the various options offered by Medigap are also sorted by letter. The choices are Plans A, B, C, D, F, G, K, L, M, and N. What these plans include is standardized by Medicare.
Marijuana stocks received enormous hype after legal recreational sales took hold in Canada and sales became legal in some form or another across more than half of the U.S. Producers in Canada listed on the big U.S. exchanges, while their U.S. counterparts sought listings in Canada. Are any marijuana stocks on major U.S. exchanges a good buy now? Overall, the marijuana industry is showing little profit growth as weed producers burn through money to expand.
Exxon Mobil Corporation (NYSE: XOM) was America's biggest publicly traded oil and gas company in 2019, and one of the largest companies in any industry. It reported consolidated revenue of more than $290 billion in 2018 across its worldwide upstream and downstream oil and gas operations. Exxon Mobil's core businesses include oil and gas exploration and production, petroleum refining, chemical manufacturing, and the marketing of petroleum and chemical products.
America's coal plants are turning off the boilers, facing brutal economics and customers fleeing for natural gas and renewable energy. This week, Arizona's 2.25-GW Navajo Generating Station burned its last load of coal after no buyers turned up during a two-year search. Trade publication Utility Dive reports that the fate of the financially ailing plant was sealed after a bid to force an Arizona water agency to buy its electricity failed.
For 2020 Roth IRA contributions are not allowed for single filers with a modified adjusted gross income (MAGI) of $139,000 (up from $137k in 2019) or more and married couples filing jointly whose MAGI exceeds $206,000 (up from $203k in 2019). A Roth IRA allows for tax-free qualified distributions in retirement, which may be invaluable if you anticipate landing in a high tax bracket when you retire. Fortunately, there is an available solution to the Roth IRA roadblock for affluent taxpayers: a backdoor Roth IRA.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Fossil Group Inc. recently was downgraded to Sell with a D rating by TheStreet's Quant Ratings.
There are many financial professionals who will, for a fee, help you navigate your way to and through retirement. If you can't afford, don't trust, or otherwise would prefer not to use an advisor, managing your own retirement is always an option. If you are serious about taking retirement into your own hands, start as early as possible by adopting one simple habit: Pay yourself first.