• Suze Orman says investors should ‘rejoice’ at the Dow’s more-than-1,000-point tumble — here’s why

    Suze Orman says investors should ‘rejoice’ at the Dow’s more-than-1,000-point tumble — here’s why

    Suze Orman says investors should stay the course and explains why she thinks investors worried about their retirement savings after a historic downturn for the Dow Jones Industrial Average should welcome such selloffs.

  • Barrons.com

    Mallinckrodt Stock Is Soaring After the Company Agreed to Settle Opioid Lawsuits

    The troubled generic-drug company has reached a deal to settle the thousands of lawsuits it faces over its alleged role in the opioid crisis for $1.6 billion.

  • GE Workforce Slashed To Post-WW II Lows — And It's Not Done Shrinking
    Investor's Business Daily

    GE Workforce Slashed To Post-WW II Lows — And It's Not Done Shrinking

    General Electric's workforce shrank drastically. The troubled industrial giant sold off business units to raise cash and stabilize. GE stock rose.

  • Barrons.com

    The Dow Dropped 1000 Points Monday. Here’s What History Says Happens Next.

    The Dow Jones Industrial Average tumbled 1031.61 points, while the S&P 500 was off 3.4%. From a technical perspective, the S&P 500 should find support near its Jan. 31 low of 3225.52, according to Macro Risk Advisors’ John Kolovos. The S&P 500 has gained 3.6% over the following three months following such occurrences, according to Bespoke Investment Group data.

  • NerdWallet

    How the IRS Knows If You Cheat on Your Taxes

    Mailboxes are flooded with tax forms every year around this time, and many of them can be confusing, feel unnecessary or involve seemingly trivial amounts of money. But before succumbing…

  • MarketWatch

    Nio's stock rockets on heavy volume; collaboration deal with Hefei government announced

    Shares of Nio Inc. rocketed 32% in very active premarket trading Tuesday, after the China-based electric vehicle maker announced a preliminary collaboration agreement with the government of Hefei, Anhui province, where the company's main manufacturing hub is located. Trading volume topped 15.8 million shares, making the stock the most actively traded before the open. Under terms of the agreement, the Hefei government expects to provide resources and funding support for Nio, as Nio plans to establish its China headquarters, expand its operations and deepen its relationships with partners in Hefei. Separately, Benzinga reported that Bernstein upgraded Nio to market perform, with a $4 stock price target, which is 3.1% above Monday's closing price of $3.88. Nio's stock, which has lost 8.9% over the previous two sessions, has run up 89.3% over the past three months through Monday. In comparison, U.S.-bases EV rival Tesla Inc.'s stock has soared 148% over the past three months and the S&P 500 has gained 2.9%.

  • Why Fidelity 401(k) Millionaires Average $1.46 Mil Balances
    Investor's Business Daily

    Why Fidelity 401(k) Millionaires Average $1.46 Mil Balances

    401(k) millionaire accounts at Fidelity averaged $1.46 million by Dec. 31, helped in large part by account owners' savvy retirement planning.

  • China faces the possibility of a financial crisis, which would send a shockwave through the world

    China faces the possibility of a financial crisis, which would send a shockwave through the world

    Chinese bank failures, loan defaults and supply-chain disruptions would put a dent in global GDP, writes Brian Frank.

  • J.P. Morgan: 2 “Strong Buy” Healthcare Stocks With Over 50% Upside

    J.P. Morgan: 2 “Strong Buy” Healthcare Stocks With Over 50% Upside

    Digitization of the world we live in has disrupted the healthcare industry, giving rise to the healthcare information technology (IT) segment of the market. The emergence of this space and the technology it offers has transformed the way healthcare providers and organizations care for patients. Not to mention efficiency has improved dramatically. Demand for these digital solutions isn’t expected to slow anytime soon, with Grand View Research predicting that the digital healthcare market will expand at a CAGR of 27%, reaching $509.2 billion by 2025.Bearing this in mind, investing firm J.P. Morgan took a look at several healthcare IT names ahead of their upcoming fourth quarter earnings releases.“Sentiment on the group has been largely favorable, with the group up 12% since Q3 earnings in November vs the remaining Healthcare Technology & Distribution group up 14% and the SPX 8%-plus,” analyst Anne Samuel commented.In the report, the firm highlights two tickers in particular that it believes can not only deliver solid prints, but also reward investors through 2020 and beyond. After using TipRanks’ Stock Screener tool, we found out each boasts a “Strong Buy” consensus rating from the Street, and has a substantial upside potential from the current share price. We’re talking more than 50% here.Health Catalyst Inc. (HCAT)With its cloud-based data platform, Health Catalyst offers data and analytics solutions to healthcare organizations. As the company gears up for its February 27 earnings release, J.P. Morgan has high hopes.The investment banking firm's analyst, Anne Samuel, notes that she will be focused on how many new Data Operating System (DOS) clients were added during the year as well as dollar-based retention. Additionally, Samuel highlights the fact that the company thinks the Medicity conversion opportunity is approaching an inflection point in 2020 given that this past summer, cross-sell conversations kicked off.Based on Samuel’s estimates, the analyst expects net new customers for 2019 to land at 14, which would reflect 28% year-over-year customer growth. In terms of 2020 guidance, she is forecasting 18 net new DOS subscription customers and 7% same-store growth, amounting to 25% DOS subscription revenue growth. However, thanks to Medicity drag, the total revenue gain is expected to come in at 22%. As a result, this brings the 2020 revenue prediction to $186 million, which falls in line with the consensus.While Samuel does point out that HCAT operates in a highly competitive environment and that there could be an expense shift of $200,00 from Q3 into Q4, her bullish thesis remains very much intact. “We see significant white space in an $8 billion TAM, with over 20% revenue growth driven by mid-teens annual customer wins. We estimate the company reaches EBTIDA profitability in the next four years as a maturing customer base drives incremental leverage. The model is predictable with over 90% recurring revenue, 107% net dollar-based retention, and a sticky customer base, never having lost an all-access customer,” the analyst explained.Taking all of this into consideration, Samuel maintained both her Overweight call and $50 price target. Should this target be met, shares could be in for a twelve-month gain of 66%. (To watch Samuel’s track record, click here)Overall, it has been relatively quiet when it comes to other analyst activity. In the last three months, only 3 analysts have issued ratings. However, as they were all Buys, the word on the Street is that HCAT is a Strong Buy. Based on the $48.33 average price target, shares could climb 60% higher in the next twelve months. (See Health Catalyst stock analysis on TipRanks)Livongo Health Inc. (LVGO)Moving on to the firm’s next pick, we come across Livongo Health. For patients battling chronic health conditions, its digital health platform makes it easy to access personalized digital guidance and health coaching through a smart connected device. While the healthcare name has experienced significant volatility, the firm remains optimistic.Ahead of its Q4 earnings release on March 2, Samuel, who also covers this stock, wrote that LVGO already “blessed Street numbers on its Q3 call for $276 million equating to 63% year-over-year growth.” She added, “Looking at the economic value added (EVA) that they reported in Q3, a 40% conversion rate on $208 million year-to-date EVA would equate to a 70% revenue growth run rate on our math.”When the results are announced, Samuel anticipates that the Street will be paying close attention to 2020 guidance and the sustainability of rapid growth, noting that management stated 2020 will be an “investment year”. On top of this, the analyst is hoping for an update on enrollment, pipeline for new growth and any changes in the competitive landscape.In terms of the fourth quarter figures, Samuel is calling for revenue of $49.4 million and an EBITDA loss of $5.5 million, both of which would land within the guided range. For 2020, the analyst expects the company to guide for $281 million in revenue, a 66% increase if achieved, gross profit margins of 72% and a fiscal 2020 EBITDA loss of $25 million.Despite the EBITDA figure being in the red, Samuel believes LVGO will be able to reach operating income profitability in 2021. Additionally, the analyst argued, “The company is minimally penetrated in a vast and growing chronic disease market, as more than half of the U.S. population has one or more chronic conditions and an additional 4,000 Americans are diagnosed with diabetes each day. LVGO’s rapid growth profile is attractive, and unique in Healthcare IT with our model calling for an 85% revenue CAGR over the next 3 years as the company increases its member base.”In line with her optimistic take, Samuel kept an Overweight rating and price target of $43 on the stock. This target conveys her confidence in LVGO’s ability to climb 55% higher in the next twelve months.What does the rest of the Street think about LVGO? As it turns out, other analysts are on the same page. With 100% Street support, the message is clear: the stock is a Strong Buy. Not to mention the $45.67 average price target implies 64% upside potential. (See Livongo stock analysis on TipRanks)

  • Exxon Drops to 15-Year Low Ahead of Annual Strategy Presentation

    Exxon Drops to 15-Year Low Ahead of Annual Strategy Presentation

    (Bloomberg) -- Exxon Mobil Corp. fell to a 15-year low on Monday amid a broad selloff in equity and commodity markets and just over a week before Chief Executive Officer Darren Woods is scheduled to present the oil explorer’s long-term strategic plan to investors and analysts.The shares have been under pressure since Exxon disclosed disappointing fourth-quarter results in late January and prospects for a near-term recovery were dimmed by the spreading coronavirus. Excess supplies of natural gas, chemicals and motor fuels also weighed on the oil supermajor.Exxon fell 4.7% to close at $56.36 on Monday in New York as Brent crude tumbled to about $56 a barrel. The last time the Texas-based driller’s stock traded at this level was the end of 2005, when crude fetched $59.Exxon has been scrutinizing employee-travel budgets since posting its worst quarterly profit in almost four years, people with knowledge of the matter told Bloomberg News earlier this month. Auditing teams have fanned out to some divisions to analyze travel requests involving industry conferences, the people said.Woods is focused on rebuilding Exxon’s portfolio of crude and gas projects through new drilling from Guyana to Mozambique. But investors have so far balked at the huge cost. Woods is scheduled to defend his strategy in a day-long presentation on March 5 in New York.To contact the reporter on this story: Kevin Crowley in Houston at kcrowley1@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Joe CarrollFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Mastercard CEO Ajay Banga to step down, insider Miebach tapped

    Mastercard CEO Ajay Banga to step down, insider Miebach tapped

    India-born Banga will take on the role of executive chairman, while Miebach will become the company's president on March 1. Chairman Richard Haythornthwaite will retire after more than a decade when Banga assumes his new role, the company said in a statement. Before joining Mastercard as president of Middle East and Africa in 2010, Miebach served as managing director at Barclays Bank and general manager at Citibank.

  • Duke Energy, Williams Cos. and partners end the $1B Constitution Pipeline project
    American City Business Journals

    Duke Energy, Williams Cos. and partners end the $1B Constitution Pipeline project

    Duke Energy Corp. confirms that the four partners in the Constitution Pipeline have agreed to abandon the 124-mile project designed to carry natural gas from shale fields in Pennsylvania to New York and New England. “Although Constitution did receive positive outcomes in recent court proceedings and permit applications, the economics associated with this greenfield project have since changed in such a way that they no longer justify investment,” says Duke spokeswoman Tammie McGee. The delays and legal challenges have since driven up the costs by close to 40%.

  • One of the market’s hottest stocks just bounced into the green to buck selloff

    One of the market’s hottest stocks just bounced into the green to buck selloff

    Virgin Galactic shares, which have been on a ridiculous tear lately, started Monday’s session just like most stocks did — deep in the red. But it didn’t last long.

  • Bloomberg

    Buttigieg Calls for SALT Cap Removal Ahead of California Primary

    (Bloomberg) -- Democratic presidential candidate Pete Buttigieg took on one of the most fraught tax issues in Democratic politics, proposing that the $10,000 cap on state and local tax deductions be lifted.Buttigieg updated his tax plan Monday, adding a plank that would remove the $10,000 limit on so-called SALT deductions for those earning up to $400,000, partially reversing a provision in President Donald Trump’s tax law that capped those write-offs, which were previously unlimited.The proposal is likely to play well in high-tax states such as California, New York and New Jersey, Democratic strongholds where local leaders have said the cap hurts residents whose incomes and property values tend to be higher. Democrats say the cap had a political motivation because it overwhelmingly affects Democratic-dominated states.But the plan could also open the candidate to criticism from some progressives who say most of the benefit of lifting the SALT cap would flow to top earners and homeowners, at a time when the party is focused on income inequality and large, new tax increases on the wealthy.Buttigieg’s $7.2 trillion tax plan could protect him from some of those critiques. Only those earning less than $400,000 would be able to write off all of their SALT liability. The proposal also includes several tax benefits for lower-income people, including expanding the child tax credit to $2,000 a year and increasing the average earned income tax credit by $1,000 a year per household.Corporations, investors and banks would also pay more. Buttigieg is calling to roll back the Trump tax cuts for the wealthy and for corporations. The effective tax rate for millionaires would increase to 49% from 31%, though the plan doesn’t specify how it reached those figures. He also calls for a 0.1% financial transaction tax on stock and bond trades and for raising taxes on corporations that shift jobs and profits overseas.“Trump placed a politically motivated cap on SALT. Trump’s economic adviser gloated that it would deliver ‘death to Democrats’ by hurting families in Democratic-leaning states with high costs of living and more progressive tax policies and social services,” Buttigieg’s plan says. “Removing the SALT cap for families undoes Trump’s politically motivated tax increase and enables governors and mayors across the country to enact progressive tax policies.”Republicans have said the change makes the tax code more progressive and that if Democratic states are worried that their residents pay too much in taxes, they should pass state and local legislation to lower those levies.Buttigieg’s SALT proposal would likely result in only a small percentage of households being able to write-off more from their tax bills. Only about 10% of taxpayers itemize -- including many earning more than $400,000 -- meaning that about 90% of people take the standard deduction, which makes them ineligible to claim the SALT deduction. And, in many states with low or no state income taxes, many people don’t have more than $10,000 to deduct even if they are itemzing.The Democratic-controlled House in December passed legislation that would temporarily repeal the SALT cap in exchange for raising the top tax rate. The passage was a symbolic victory, particularly for some moderate Democrats representing suburban districts in southern California and New Jersey, who had flipped seats in the 2018 midterms after voters were angry the tax law limited their tax breaks. Republican Senate leaders have said they won’t address the bill.The Senate in October also rejected a resolution that would give states leeway to help residents avoid the $10,000 limit on SALT payments. Senator Amy Klobuchar, one of Buttigieg’s moderate rivals in the race, voted for the resolution. Senators Bernie Sanders and Elizabeth Warren were not present for the vote. Former Vice-President Joe Biden has said he favors removing the cap.(Disclaimer: Michael Bloomberg is seeking the Democratic presidential nomination. He is the founder and majority owner of Bloomberg LP, the parent company of Bloomberg News.)\--With assistance from Tyler Pager.To contact the reporter on this story: Laura Davison in Washington at ldavison4@bloomberg.netTo contact the editors responsible for this story: Wendy Benjaminson at wbenjaminson@bloomberg.net, Max BerleyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • MarketWatch

    Tupperware plunges toward record low after profit warning, accounting probe and need for covenant relief

    Shares of Tupperware Brands Corp. plunged 21% toward a record low in premarket trading Tuesday, after the household and personal care products company warned of a 2019 profit shortfall, said it was conducting an investigation in its financial accounting and that it expected to need "relief" from a leverage ratio covenant. The company said late Monday that it expects 2019 net earnings per share in the range of breakeven to 34 cents, down from $3.11 a year ago, and adjusted EPS of $1.35 to $1.70, which is below the FactSet consensus of $2.79. The company said results were affected by "financial reporting issues" in Fuller Mexico, of which the company has launched an investigation into the accounting for accounts payable and accrued liabilities. The company estimates that the total pre-tax impact for 2019 to be about $50 million to $52 million. Separately, the company said it is forecasting the need for relief from the covenant in its $650 million credit agreement, to avoid potential acceleration of the debt, which would have "a material adverse impact on the company." The company said it has received approvals, pending final documentation, from participating banks. The stock has plunged 35.2% over the past three months through Monday, while the S&P 500 has gained 2.9%.

  • MarketWatch

    Home Depot tops fourth-quarter earnings view and hikes dividend by 10%

    The Home Depot said fiscal fourth-quarter ending Feb. 2 net income rose 5.8% to $2.48 billion, or $2.28 a share, while sales fell 2.7% to $25.78 billion. Analysts polled by FactSet had forecast earnings of $2.11 a share on sales of $25.76 billion. The world's largest home-improvement retailer said the extra week of operations in fiscal 2018 added $1.7 billion in sales, as comparable sales rose 5.2%. For fiscal 2020, Home Depot forecasts EPS of $10.45, sales growth between 3.5% and 4%, and comparable sales growth between 3.5% and 4%. Analysts had forecasted 2020 EPS of $10.51. Home Depot hiked its dividend by 10% to $1.50 a share.

  • Gilead Surges After WHO Comments on Virus Drug Testing

    Gilead Surges After WHO Comments on Virus Drug Testing

    (Bloomberg) -- Gilead Sciences Inc. shares gained Monday after a senior World Health Organization official said the company’s experimental drug may be the best bet to find a treatment for the new coronavirus spreading around the globe.Gilead’s compound, remdesivir, has been rushed into a clinical trial in China, where the illness has infected tens of thousands of people. WHO officials have said results could be available within weeks.Remdesivir is the “one drug right now that we think may have efficacy,” Bruce Aylward, an assistant director-general at the World Health Organization, said at a briefing in Beijing. WHO officials and international scientists are in the country assessing the outbreak.Gilead shares rose 4.6% to $72.90 on Monday, the highest closing level since October 2018. Spokeswoman Sonia Choi said Gilead is anticipating results from two trials in China in April.A leap in Gilead shares this month has added more than $12 billion to the company’s market value, a figure that far outstrips the sales gains the company is likely to reap from the drug, according to some projections.Analysts at Bank of America expect remdesivir to result in one-time revenue of about $2.5 billion, at most. Analyst Geoff Meacham said “remdesivir offers little lasting, meaningful” upside to Gilead’s bottom line given the economics of addressing epidemics or pandemics.Outbreaks of new or rare infectious diseases can prompt a rush of efforts to find effective therapies, with trials often conducted in sometimes-chaotic field conditions. But not all work -- many of the drugs tested against Ebola during outbreaks over the past decade failed, despite initial hopes they could save some patients from that deadly virus.(Updates with closing stock-price information in fourth paragraph. An earlier version of this article corrected that remdesivir is not a vaccince candidate in the fifth paragraph.)To contact the reporters on this story: Drew Armstrong in New York at darmstrong17@bloomberg.net;Bailey Lipschultz in New York at blipschultz@bloomberg.netTo contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy AnnettFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Here are the worst-performing stocks Monday as investors panic over the coronavirus

    Here are the worst-performing stocks Monday as investors panic over the coronavirus

    DEEP DIVE A heightened fear of the coronavirus spread over the weekend amid reports of scores of new infections in Italy, pummeling U.S. stock indexes on Monday. The Dow Jones Industrial Average (DJIA) fell 1,032 points, or 3.

  • India To Buy $3 Billion In U.S. Weapons But This Key Deal Awaits
    Investor's Business Daily

    India To Buy $3 Billion In U.S. Weapons But This Key Deal Awaits

    India will sign $3 billion in military deals with the U.S. as Boeing and Lockheed Martin remain in a fight to win a fighter jet deal.

  • 3 ‘Perfect 10’ Stocks to Consider When Coronavirus Fears Fade

    3 ‘Perfect 10’ Stocks to Consider When Coronavirus Fears Fade

    After a period of cooling off its impact on the markets, fear of the coronavirus played havoc on Wall Street again today. Consequentially, the tech heavy Nasdaq 100 had its worst day for almost a month, dropping by almost 3%. Companies with heavy exposure to China such as AMD and Nvidia are the most heavily affected.Nevertheless, tech companies have provided investors with plenty to shout about over the last 12 months and the sector can always be depended upon to present various compelling plays.In fact, using TipRanks’ Best Stocks to Buy tool we managed to pinpoint 3 stocks in the sector that currently present perfect investing opportunities -- all receive a score of a “perfect 10." Let’s get the lowdown.Lumentum Holdings (LITE)Lumentum has had a phenomenal 2019, with shares up over 90%. Increasing demand for its offerings, especially amongst consumer electronics stalwart like Apple - for which it supplies 3D sensing technology - plus better than expected earnings results, helped the stock beat the market considerably.In the latest earnings report, the company posted revenue of $457.8 million, a year-over-year increase of 23%, beating the consensus calls for $452 million. A beat was posted by EPS, too; the estimate of $1.29, below the reported $1.53. Lumentum’s balance sheet looks in rude health, as well: the company ended the quarter backed with $1.3 billion in cash and short-term investments.Goldman Sachs’ Rod Hall is impressed with the print. In fact, in addition to keeping his Buy rating intact, the results meant the 4-star analyst nudged his price target upwards, too; from $77 to $102. The implication? Further upside of 28%. (To watch Hall’s track record, click here)Hall believes Lumentum will see further growth in margins driven by the rising mix of Datacom chip and 3D sensing revenue and the exit from legacy products. Furthermore, the company’s conservative guidance means room for share appreciation. Hall explained, "FQ3 EBIT margin implies more weakness in Telecom gross margins than can be explained by the coronavirus risk alone. We model FQ3 Telecom gross margin at just 38.0%, down from 45.5% in FQ2 in spite of higher revenues. Even this large drop still puts our forecast closer to the high end of the 21%-23% EBIT margin guidance range at 22.7%".Overall, Lumentum’s momentum won’t be halted, according to the analysts; 14 Buys and 2 Holds converge to a Strong Buy consensus rating. At $96.81, the average price target indicates possible gains in the shape of 21% over the next 12 months. (See Lumentum stock analysis on TipRanks)Wix.com (WIX)Wix stock took a hit last week following the release of its quarterly results. Despite posting year-over year growth of 25%, which amounted to fiscal 2019 revenue of $761.1 million – investors were let down by the disappointing guidance; Wix sees Q1 revenue of between $215 to $217 million, while the consensus calls for $217.8 million.The print, though, also exhibited some strong numbers. The addition of 89,000 premium subscribers in the fourth quarter was a 13% year-over-year increase and adds to a total of 4.5 million paying customers. Wix now has 165 million registered users, a rise of 16% from 2018. Additionally, the quarter saw Wix introducing Editor X, an innovative web design and creation platform for web agencies and designers.Deutsche Bank’s Lloyd Walmsley is staying with the bulls. The 5-star analyst thinks “the customer support, agency sales and partnership initiatives” can all pay dividends in 2020.Walmsley further added, “We see preliminary 2020 guidance as more conservative than in the recent past given a series of new products out that have unknown ramp paths, most notably the EditorX and Payments, both of which could ultimately scale well in our view… we believe EditorX can have a more immediate path to financial contribution and is not yet fully reflected in the guide… We continue to see a potential inflection in payments, particularly if Wix eventually forces adoption on the platform, which is not currently contemplated in guidance.”Walmsley, therefore, reiterated a Buy rating on Wix. The mixed print, though, means a slight reduction in the 5-star analyst’s price target, down from $170 to $166. The new figure could still yield returns of 28% over the coming year. (To watch Walmsley’s track record, click here)Most of the Street have not given up on the company just yet, as TipRanks analytics showcase WIX as a Strong Buy. Out of 8 analysts polled in the last 3 months, 7 are bullish on the stock, while only 1 remains sidelined. With a potential upside of 18%, the stock’s consensus target price stands at $154. (See Wix stock analysis on TipRanks)Western Digital (WDC)Completing the list is hard disk drive manufacturer and data storage specialist Western Digital. The San Jose based company provided investors with plenty to smile about last year; the stock added 74% to its share price in 2019.WD’s latest earning results delivered the goods across the board. WDC reported fiscal Q2 revenue of $4.23 billion, beating the street’s call for $4.22 billion. Likewise, the company posted a beat with EPS: $0.62 vs the Street’s estimate of $0.58, Gross margins came in at the high-end of guidance at 25.9%.For the current quarter, WDC expects revenue to come in between $4.1 to 4.3 billion and EPS between $0.85 and $1.05 ($0.95 at midpoint). The Street is calling for $4.23 billion and $0.78, respectively. Gross margins are expected to improve quarter-over-quarter to between 28.5 and 29.5%RBC’s Mitch Steves applauded the print: “Western Digital reported a solid quarter and guidance came in notably ahead of expectations from an EPS perspective. Specifically the company notes: 1) the NAND environment is improving faster than they originally expected and anticipate solid strength through CY20, 2) WDC is seeing continued momentum in NVMe enterprise SSds, 3) they anticipate doubling enterprise SSD revenue in 2020, 4) gaming flash demand should begin in June of 2020 and 5) gross margin are seeing notable improvements with WDC guiding to 29% at the mid-point for Mar qtr.”Down to the nitty gritty, what does it all mean? It means Steves keeps his Outperform rating as is, while boosting his price target upwards; $64 is upgraded to $85 and implies potential upside of 33%. (To watch Steves’ track record, click here)The storage specialist’s Moderate Buy consensus rating currently breaks down into 13 Buys, 4 Holds and a single Sell. The average price target comes in at $82.06 and suggests possible returns of 22.5%. (See Western Digital stock analysis on TipRanks)

  • Mallinckrodt reaches $1.6B opioid settlement calling for generics unit bankruptcy
    American City Business Journals

    Mallinckrodt reaches $1.6B opioid settlement calling for generics unit bankruptcy

    Mallinckrodt PLC said Tuesday it has reached a $1.6 billion agreement to settle opioid-related claims against the company that would call for Chapter 11 bankruptcy filing by certain specialty-generics subsidiaries. The company also reached a debt refinancing agreement.