• Italian trader loses his ‘entire life savings’ on one insanely risky position
    MarketWatch

    Italian trader loses his ‘entire life savings’ on one insanely risky position

    When Luckin Coffee shares, which were already down 89% for the year, were halted in April amid an investigation into financial misconduct, losses were felt far and wide. One investor with a PG-13 Reddit name took a particularly grievous hit.

  • Financial Times

    Hedge funds brace for second stock market plunge

    Hedge funds are getting ready for another slump in stock markets after growing uneasy that surging prices do not reflect the economic problems ahead. The S&P 500 index completed its best 50-day run in history on Wednesday, according to LPL Financial, closing within 8 per cent of its record high of mid-February. “The markets are priced to perfection,” said Danny Yong, founding partner at hedge fund Dymon Asia Capital in Singapore.

  • U.S.News & World Report

    2020's Dividend Aristocrats List: All 66 Stocks

    Rock-solid dividend aristocrats you can bank on. Finding great dividend stocks is hard work. One shortcut to finding great dividend stocks is to look at the "dividend aristocrats," companies in the S&P 500 Index that have been increasing dividend payments annually for at least 25 years.

  • Why Genius Brands Is On A Massive Rally, Adding Nearly 2500% Value In A Month
    Benzinga

    Why Genius Brands Is On A Massive Rally, Adding Nearly 2500% Value In A Month

    The shares of Genius Brands International Inc. (NASDAQ: GNUS), a company until recently struggling to keep itself listed on Nasdaq, have added 2458% since May.The surge has come following a string of operational advancements and investments announced by the children entertainment company.New Network Brand The biggest of these is the anticipated launch of "Kartoon Channel" on June 15. Genius Brands said early May it was merging its two channels, "Kid Genius Cartoon Channel" and "Baby Genius TV," to create the new digital network.Kartoon Channel "will be available in over 100 million U.S. television households, and over 200 million mobile devices," and will stream on Amazon.com Inc.'s (NASDAQ: AMZN) Prime Video and Apple Inc.'s (NASDAQ: AAPL) Apple TV, among other platforms, the company said at the time.CEO Andy Heyward described the channel as a "turning point" in a letter to shareholders, and dubbed it free Netflix Inc. (NASDAQ: NFLX) for kids.Genius Brands announced around the same time that a toy line for its show "Rainbow Rangers" developed by Mattel Inc. (NASDAQ: MAT) will debut at Walmart Inc. (NYSE: WMT) stores in August.)Delisting At Nasdaq Canceled The Beverly Hills-based company announced four registered offerings of its shares in May, including .8 million and .4 million at $0.35 per share, million at $1.2 per share, and million at $1.5 per share.On May 28. Genius Brands said it had met the criteria of its shares closing at higher than $1 for ten consecutive days, and the company will no longer get delisted from Nasdaq.Price Action Genius Brands shares closed 97.3% higher at $7.93 on Wednesday. The shares traded another 9.7% higher in the after-hours session at $8.70.Image: Genius BrandsSee more from Benzinga * Zuora Shares Surge 21% As Company Reports Q1 Earnings Beat * BlackRock Sees These Opportunities As Best In Asia To Outlast Coronavirus * Google Takes Down 'Remove China Apps' With 5M Downloads(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • What's the Average 401(k) Balance by Age?
    Investopedia

    What's the Average 401(k) Balance by Age?

    How much money people have put away for retirement varies, naturally, by their age group. See how your savings stack up.

  • Watch out: This is the age where you should definitely stop trading stocks
    MarketWatch

    Watch out: This is the age where you should definitely stop trading stocks

    For more investors, low cost index funds, especially exchange-traded index funds, are the way to go. How annuities could protect your retirement income Annuities can help plan for retirement during a volatile market. Maybe you saw the study which found that 10% of retail investors beat the market indexes over time.

  • Oil Traders Are Asking Why U.S. Inventory Math Doesn’t Add Up
    Bloomberg

    Oil Traders Are Asking Why U.S. Inventory Math Doesn’t Add Up

    (Bloomberg) -- Oil traders and analysts scrutinizing U.S. inventory data for signs of a market recovery are being confronted by an odd situation: the math just doesn’t add up.Various government data sets including stockpiles, production, imports and exports are signaling that current official figures on at least some supplies are excessive. While it’s unclear where exactly the discrepancy lies, the difference could potentially signal a more bullish outlook for crude prices as they claw their way back after diving below zero in April.The excess is showing up in the U.S. Energy Information Administration’s so-called crude supply adjustment factor -- the difference between stockpile numbers and those implied by production, refinery demand, imports and exports. That has averaged negative 980,000 barrels daily over the past four weeks -- the largest in records going back to 2001, and equivalent to more than 27 million barrels.The adjustment factor tends to swing back and forth, depending on irregularities in various surveys the EIA pulls from for its reports. For these weekly reports, the EIA is not able to collect domestic crude oil production, instead estimating it from its short-term energy outlook model.Some investors lay the blame for the current discrepancy on U.S. oil production numbers. While daily output fell 700,000 barrels to 11.2 million in May, they believe oil’s plunge into negative territory in April should have led to a steeper decline.Just last month, consultancy IHS Markit said that U.S. oil producers are in the process of curtailing 1.75 million barrels a day of existing output by early June due to operating cash losses, lack of demand and storage capacity and an unwillingness to sell resources at low prices. Some of that lower production is already becoming evident, according to information disclosed in various company announcements and state data.Read: No One Expected U.S. Shale Oil Output Cuts to Happen So FastWhile output may be a factor, it’s unlikely the full answer. According to the EIA’s Robert Merriam, the accuracy of its production modeling compared to subsequent monthly data has been good, often within 1-2% in most months.Since prices started tumbling in March following the collapse of the OPEC+ deal to cut output, the EIA’s weekly data has recorded a production decline of 1.9 million barrels, which he said was substantial compared with historical numbers. And while he’s also seen a wide range of analyst estimates on current production volumes, it’s not clear whether those are comprehensive or extrapolated.“The adjustment reflects the aggregate uncertainty around each of the supply and disposition elements, and the crude production estimate certainly remains but one potential factor,” Merriam, the director of the Office of Energy Production, Conversion, and Delivery at the EIA, said.He said that there have also some large weekly swings in reported inventory levels and refinery runs, so all the elements within the crude data are moving around far more than they usually do, adding that “the timing of reporting those could also be driving the adjustment lately, as they always do.”A year ago, the crude adjustment factor caught the attention of energy enthusiasts when the figure was more than 800,000 barrels a day for four weeks, implying the reverse -- that something in the data was undercounted. The EIA, at the time, had suspected that besides understating oil production, one of the reasons was plant condensate that was associated with natural gas output, but blended into the crude oil stream.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Fox Business

    Congress eases PPP loan terms to aid small business: What to know

    Congress passed a bill that gives small businesses more time and flexibility to use PPP loans.

  • Tesla Rival Nio Soars Into Buy Zone As Electric Vehicles' 'Robust Quality' Touted
    Investor's Business Daily

    Tesla Rival Nio Soars Into Buy Zone As Electric Vehicles' 'Robust Quality' Touted

    Nio surged into a buy zone as Goldman Sachs touted its improving cash and liquidity, with solid sales and "robust quality" sealing the Tesla rival's emerging brand status.

  • 3 “Perfect 10” Stocks That Are Poised for a Bull Run
    TipRanks

    3 “Perfect 10” Stocks That Are Poised for a Bull Run

    The S&P 500 is showing a sustained rally, and has powered past the 2,750 to 2,850 range analysts had just three weeks ago predicted as resistance levels. That the economy is still in the midst of a serious recession, no one doubts – but the stock market’s performance is giving investors some reason for hope.Finding the right stock plays in the current environment is a challenge for every investor. The crisis sparked by the coronavirus and the unprecedented economic shutdown policies has defied all the rules, making it difficult to predict where a given stock may head. Fortunately, TipRanks has developed the tool you need to interpret the market.The Smart Score uses the accumulated information in the TipRanks database to develop a single rating for every stock. Based on 8 factors – ranging from analyst views to news sentiment to traditional fundamentals – the Smart Score lets you know at a glance how a stock is likely to perform. Today we’ll peer under the hood at three stocks with the coveted ‘perfect 10’ Smart Score – and upside potentials starting at 30%.Vistra Energy (VST)First up is Vistra Energy, a power company in the US. Like most utilities, Texas-based Vistra operates across the electricity utility industry: from power generation, to distribution, to transmission. As an electric utility provider, Vistra found itself with a natural advantage during the past several months, as its services are essential and its product is necessary for, well, most everything.That Vistra is confident, even in these times, can be seen from the company’s dividend. VST paid out 13.5 cents per share in Q1, and announced another 13.5 cent payment for Q2, representing an increase from 2019’s quarterly payments. At 54 cents per share annualized, VST’s dividend yields 2.62%.In Vistra’s Smart Score calculation, 6 of the 8 factors were strongly positive. Of particular note are the news sentiment, which is 100% bullish over the past week; the blogger sentiment, which at 100% bullish is much better than the utility sector average of 66%; and the insider sentiment, which is strongly positive as corporate officers have bought up over $2 million worth of the shares in the past two months.Shahriar Pourreza, 5-star analyst with Guggenheim, is plainly optimistic about this stock. He writes, “We remain of the view that while VST’s high FCF yield valuation is frustrating, the model is poised to perform in a COVID-wracked 2020 and beyond – this is the year to prove-out the stability of the integrated business model. We continue to be strong supporters of shares…”Pourreza rates VST shares a Buy and gives the stock a $34 price target, indicating strong confidence and a one-year upside of 64%. (To watch Pourreza’s track record, click here)With 5 analyst review, breaking down to 4 Buy and 1 Hold, VST gets a Strong Buy from the analyst consensus. The share is priced at $20.63, while the average price target of $30.50 suggests it has room for a robust 47% upside potential. (See Vistra stock analysis on TipRanks)PDC Energy (PDCE)Next up we have an oil company, PDC Energy. This company both produces and distributes crude oil, natural gas, and natural gas liquids in the lower 48 states. The main production operations are located in Colorado and Texas. Oil production has been growing in recent years; in 2018, PDC averaged 110,000 barrels of oil equivalent per day, and that number is forecast to reach 170,000 to 180,000 per day for 2020.Company earnings had been running near the break-even level through 2019, and took a sharp dive in Q1 2020 – the corona quarter. EPS came in for Q1 at a $8.07 net loss per share. Q2, however, is projected to show a loss of only 27 cents per share – much more in line with recent quarterly results than the Q1 numbers.Turning to the Smart Score, we find that PDCE’s perfect 10 is mainly based on the hedge activity, insider sentiment, and blogger opinions. Hedge activity and insider trades both increased recently, showing institutional confidence in the stock. Hedge activity is up over 953,000 shares, while insider purchases have totaled almost $75,000 in the past three months. The bloggers are 100% bullish on this stock, well above the sector average of 65%.One of PDC Energy's biggest supporters on Wall Street is Wells Fargo's Thomas Hughes. With a price target of $20 a share, the analyst sees 43% upside potential to back his Buy rating. (To watch Hughes’ track record, click here)In his comments on the stock, Hughes wrote, “We think PDCE’s strong balance sheet (<2.5x levered by YE21) will one day be rewarded by the market. While the borrowing base was reduced ~19% with the spring redetermination, elected commitments are unchanged…”Overall, the Strong Buy analyst consensus rating here is based on 7 Buys and 1 Hold set in recent months. Shares are selling for $14.05, and the average price target of $20.88 suggests a healthy 48% premium. (See PDC Energy stock analysis on TipRanks)SkyWest, Inc. (SKYW)Last up we have a regional airline. SkyWest operates connector airlines for Alaskan, American, Delta, and United, is the largest regional carrier in the US market. You may think that the airlines have been hurt badly by the coronavirus, most especially by the general economic shutdown and the further restrictions on trade and travel, and you would be right. SKYW shares are down over 40% year-to-date, while the S&P 500 is only down 3.5% in that period.Between a solid balance sheet and Federal aid, SkyWest is actually in reasonably good shape, especially compared to its airline peers. The company reported $578 million in cash on hand at the end of Q1, along with a $438 million assistance package under the CARES Act, passed by Congress to help companies ride out the corona recession. Of the CARES money, only $101 million is a loan; the remainder was a direct grant. SkyWest’s liquidity is secure, at least for now.In the Smart Score, SkyWest shows near-unanimity in the positive indicators. Only the technical analysis, which follows long-term chart movements and momentum, is in the red, that is easily understood as an artifact of the market slump. Other indicators – analyst consensus, blogger opinions, hedge and insider activity, and individual investor sentiment – are strongly positive.Covering this stock for Deutsche Bank, 5-star analyst Michael Linenberg writes, “After incorporating all of the cash flow "puts and takes" we are estimating for 2020, we are projecting SkyWest's year-end cash balance north of $600 million. As the company focuses on enhancing its liquidity and reducing its cash burn, we think SkyWest is well-positioned to be the regional aircraft solutions provider for its major airline partners. And the timing couldn't be more propitious for SkyWest to take on that role in light of the volatile backdrop."To this end, Linenberg reiterates a Buy rating on SkyWest shares along with a $47 price target, which implies nearly 27% upside from current levels. (To watch Linenberg's track record, click here)The overall rating on SKYW shares is a Strong Buy, with that analyst consensus rating based on 6 reviews. These include 5 Buys and just a single Hold. The average price target stands at $44.25, and implies an 18% upside potential for the year ahead. (See SkyWest stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • Gold & Silver “Washout” – Get Ready For A Big Move Higher
    FX Empire

    Gold & Silver “Washout” – Get Ready For A Big Move Higher

    If our research is correct, both Gold and Silver will rally higher by about 7.5% to 14% – setting up new price highs for both metals.

  • Trump administration to bar Chinese passenger carriers from flying to U.S.
    Reuters

    Trump administration to bar Chinese passenger carriers from flying to U.S.

    President Donald Trump's administration on Wednesday barred Chinese passenger carriers from flying to the United States starting on June 16 as it pressures Beijing to let U.S. air carriers resume flights amid simmering tensions between the world's two largest economies. The move, announced by the U.S. Department of Transportation, penalizes China for failing to comply with an existing agreement on flights between the two countries. The order applies to Air China, China Eastern Airlines Corp, China Southern Airlines Co and Hainan Airlines Holding Co, as well as smaller Sichuan Airlines Co and Xiamen Airlines Co. Chinese carriers are currently flying four round-trip flights to the United States weekly.

  • U.S.News & World Report

    The Case Against Retiring Early

    "Early retirement is a common ambition among today's workforce," says Greg Klingler, director of wealth management at the Government Employees' Benefit Association in Fort Meade, Maryland. "Assuming a 7% return, maximizing your contributions for five additional years would add $179,000 to your savings."

  • Why Gilead's Coronavirus Drug Could Be A Mega Blockbuster: Analyst
    Investor's Business Daily

    Why Gilead's Coronavirus Drug Could Be A Mega Blockbuster: Analyst

    Gilead's coronavirus drug, remdesivir, could capture nearly $8 billion in 2022 sales, an analyst said Wednesday as he upgraded GILD stock. He sees promise for Gilead in cancer drugs.

  • Chinese EV Maker Xpeng Motors Seeks $500M US IPO: Report
    Benzinga

    Chinese EV Maker Xpeng Motors Seeks $500M US IPO: Report

    Electric vehicle pioneer Tesla Inc (NASDAQ: TSLA) might be getting more tough competition from the Chinese EV market.Nio Inc - ADR (NYSE: NIO) hit the U.S. markets back in September of 2018, and now Xpeng Motors is planning a U.S. listing, the South China Morning Post reported.What Is Xpeng Motors?Xpeng, founded in 2014, is based out of Guangzhou and is backed by Alibaba Group Holding Ltd - ADR (NYSE: BABA) and Xiaomi, among others. It currently sells two EV models: G3 e-SUV, released in late 2018 and P7 E-Limousine, launched recently.Incidentally, Tesla has an ongoing litigation pending against Xpeng, alleging the latter has stolen its Autopilot source code.Xpeng is contemplating a $500 million IPO, media reports suggest. The company hasn't confirmed the speculation yet.Xpeng Motors eceived $400 million in capital infusion late last year.Related Links:Nio's History Of Capital Raises: A Look At The Chinese EV Manufacturer's Debt Tesla Negotiates 5M Loan In China Amid Factory Shutdowns, Shrinking Sales Photo credit: Navigator84, WikimediaSee more from Benzinga * Here's Why Nio Shares Are Rallying To A Multi-Month High * Tesla's China, Europe Performance Suggests Quarter Will Be One Of Automaker's Weakest, Says Gordon Johnson * Tesla's FSD Package Shows Automaker's Potential For Software Revenue(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • TheStreet.com

    Too Bullish? Cramer's 'Mad Money' Recap (Wednesday  6/3/20)

    We're cheering a jobs number that may be too bullish, says Jim Cramer. He looks beyond to which stocks investors should buy, and which they should avoid.

  • Morgan Stanley Deboards From Cruise Lines, Bearish On Carnival, Norwegian And Royal Caribbean
    Benzinga

    Morgan Stanley Deboards From Cruise Lines, Bearish On Carnival, Norwegian And Royal Caribbean

    The shares of a number of cruise liners have been hit due to the coronavirus pandemic that's continuing to harm the travel industry. Morgan Stanley downgraded cruise liners Wednesday and said it expects cruises to resume in the fourth quarter.The Cruise Lines Analyst Jamie Rollo reinstated coverage of Carnival Corp (NYSE: CCL) and Royal Caribbean Cruises (NYSE: RCL) with an Underweight rating and price targets of $11 and $33, respectively. The analyst downgraded Norwegian Cruise Line (NASDAQ: NCLH) from Equal-weight to Underweight with a price target cut from $14 to $13. The Cruise Lines Thesis The cruise industry will take longer than almost any other form of travel to return to normal, Rollo said in a note. (See his track record here.)"Cruising needs not just international travel to return, but ports to reopen, authorities to permit cruising, and the return of customer confidence," the analyst said. A number of things need to happen for the cruise industry to resume sailing, and there is a risk this might not occur until 2021, and possibly later, he said. Morgan Stanley estimates that cruises will resume in the fourth quarter of 2020. Cruise lines have developed a comprehensive plan for resuming operations and sailing in a safe manner that takes into account the unique high-risk setting of cruise ships in the era of this coronavirus, Rollo said. "It's a tall order to try to make a cruise ship environment safe for sailing in an era of this virus continuing to circulate on the globe." The Cruise Line Industry Association is also currently looking at introducing new safety procedures, the analyst said. CCL, RCL, NCLH Price Action Norwegian Cruise Line shares were trading 4.49% higher at $18.16 at the time of publication. The stock has a 52-week high of $59.78 and a 52-week low of $7.03.Carnival Cruise shares were up 3.08% at $17.39. The stock has a 52-week high of $53.86 and a 52-week low of $7.80.Royal Caribbean shares were trading up 3.36% at $57.85. The stock has a 52-week high of $135.32 and a 52-week low of $19.25.Related Links:Analyst: Here's How Long Carnival, Norwegian And Royal Caribbean Can Last Without RevenueHere's How Long Carnival, Norwegian And Royal Caribbean Can Last Without RevenueLatest Ratings for CCL DateFirmActionFromTo Jun 2020Morgan StanleyReinstatesUnderweight May 2020Credit SuisseInitiates Coverage OnNeutral May 2020SunTrust Robinson HumphreyMaintainsHold View More Analyst Ratings for CCL View the Latest Analyst Ratings See more from Benzinga * Why Norwegian Cruise Line's Stock Is Moving Higher Today * Norwegian Cruise Line Shares Fall On Mixed Q1 Report, CEO Says 'We Have Taken Decisive Action' * Every Member Of Trump's 'Great American Economic Revival' Industry Groups(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Barrons.com

    A Safe Vegas Dividend-Yield Play: MGM Growth Properties

    Las Vegas is reopening, but attractive dividend yields look scarce. MGM Growth Properties, formed in 2015, sports an attractive and arguably safe yield of 6.6%.

  • Nvidia Stock Rises As Chip Giant's 'Awakening' Touted, But Is It A Buy Now?
    Investor's Business Daily

    Nvidia Stock Rises As Chip Giant's 'Awakening' Touted, But Is It A Buy Now?

    Nvidia earnings are booming again. Nvidia stock is once again a chip leader thanks to its data center business. But is it a good buy in the coronavirus stock market rally?

  • What it’s like to buy $9 billion in stocks during a market crash — this fund manager did just that
    MarketWatch

    What it’s like to buy $9 billion in stocks during a market crash — this fund manager did just that

    David Giroux of T. Rowe Price describes what life was like during the worst moments of the stock market downturn.

  • 3 “Strong Buy” Penny Stocks That Could Go Boom
    TipRanks

    3 “Strong Buy” Penny Stocks That Could Go Boom

    Penny stocks are controversial, to say the least. When it comes to these under $5 per share investment opportunities, Wall Street observers usually either love them or hate them. The penny stock-averse point out that while the bargain price tag is tempting, there could be a reason shares are trading at such low levels like poor fundamentals or insurmountable headwinds.However, the other side of the coin has merit as well. Naturally, with these cheap tickers, you get more bang for your buck in terms of the amount of shares. On top of this, other more expensive and well-known names aren’t as likely to produce the colossal gains that penny stocks are capable of.Given the nature of these investments, Wall Street analysts recommend doing some due diligence before pulling the trigger, noting that not all penny stocks are bound for greatness.With this in mind, we set out our own search for compelling investments that are set to boom. Using TipRanks’ database, we pulled three penny stocks that have amassed enough analyst support to earn a “Strong Buy” consensus rating. Adding to the good news, each pick boasts over 125% upside potential. Hyrecar, Inc. (HYRE)We all know about the gig economy, which turned the world of freelance work upside down by using the internet to connect people with skills to jobs that needed doing. And we all know how Airbnb used a similar model in the world of short-term lodging. Hyrecar brings the online sharing model to the automotive sector, allowing vehicle owners to rent out their cars short-term, even hourly; car owners can use their cars to make money during downtime, while car renters get the convenience of a vehicle right when they need it.Where many companies saw steep revenue drops in Q1, Hyrecar’s top line was healthy. Revenues grew 20% sequentially and 65% year-over-year, to reach $5.8 million. While EPS was negative, showing a 25 cent per share net loss, that was a 19% improvement from Q4’s 31-cent net loss. The solid revenue number and the EPS improvement were based on a 16% increase in rental days from Q4 to Q1.At $2.25, several analysts argue that now is the time to snap up shares. Ladenburg analyst Jon Hickman puts Hyrecar into the context of recent events, and likes the fit he sees: “Prior to early March, the company hit a weekly rental day high of more than 20,000 as vehicle supply continued to climb in line with the success of the Fleet initiative. In the days that followed (as the country shut down) through early April, weekly rental days fell to a level of 14,000, but have since begun to recover as the company focused its drivers on delivery opportunities… the company's concerted effort to help drivers sign up with such services as Door Dash, Instacart, and other delivery services (food and packages) has resulted in a notable uptick in weekly rental days, which is now trending toward 18,000.”Believing that HYRE’s best days are in front, and that the company will see continued growth into 2021, Hickman puts a Buy rating on the stock. His $5.25 price target suggests a one-year upside potential of 133%. (To watch Hickman’s track record, click here)Overall, Wall Street agrees that HYRE is a stock to buy. The Strong Buy analyst consensus is unanimous, based on 4 recent positive reviews, while the average price target, of $5.94, is actually more bullish than Hickman’s, implying a 171% upside potential in the coming year. (See Hyrecar stock analysis on TipRanks)Genco Shipping, Inc. (GNK)Next up is a small-cap shipping company, Genco. The company boasts a market cap of $207 million, along with a major asset: a modern fleet of dry bulk carriers. These ships, varying in size from 34,000-ton Handysize freighters to the giant 175,000+ ton Capemax vessels, are wholly owned and modern, with a majority of the fleet build in the past decade. Genco transports essential dry bulk cargoes such as coal, grain, iron ore, and steel around the world.The coronavirus pandemic, with its heavy impact on trade and travel, hit Genco hard in Q1. The company saw earnings plummet, and EPS registered a 17-cent loss per share in the first quarter, a sharp turn from Q4’s 7-cent profit. At the same time, the company was able to continue streamlining its operations, including selling off three of its least profitable vessels, and took action to improve its cash position. Genco finished the quarter with $134.3 million in unrestricted cash on hand, and is negotiating a further $25 million in collateralized credit from its main lenders.Despite the recent struggles, one analyst argues that the $4.94 price tag is a solid deal for investors.Writing on GNK stock for Evercore ISI, Jonathan Chappell said, “GNK still retains the strongest balance sheet in the dry bulk industry… GNK should be able to build upon its cash balance, enabling it to return to the prior dividend run rate once there is more clarity on the global economic backdrop and the timing on an eventual dry bulk market recovery, while its liquidity could also render it as the market consolidator if other less-well-capitalized owners fall victim to a prolonged global recession.”Chappell's numbers are upbeat, too. The $9 price target suggests a robust 82% upside potential, and fully supports his Buy rating on the stock. (To watch Chappell’s track record, click here)Chappell's bullish stance on Genco Shipping is in line with Wall Street’s view. GNK has a Strong Buy consensus rating, based on 4 Buy ratings and single Hold set in recent weeks. Meanwhile, the average price target of $10.80 leaves a room for nearly 119% upside from current levels. (See Genco stock analysis on TipRanks)Reed’s, Inc. (REED)Reed’s, a small cap company in the craft soda markets, is best known for its ginger ale and ginger beer products. The company’s eponymous brand and product line also extends to zero-sugar sodas and ginger candy. It’s a small niche, but one with a clear path forward: Reed’s reported a 13% year-over-year sales increase in Q1 2020. That sales increase translated into a $9.5 million top line. While EPS has been showing let losses for the past two years, those losses bottomed in Q3 2019; the Q1 number, a loss of 5 cents per share, represented the smallest loss in 9 quarters, and a 44% sequential improvement. Looking forward, the quarterly loss is expected to narrow further, to just 3 cents per share, in Q2. The positive outlook is buoyed by the 21% volume growth of the core Reed’s Ginger Ale brand in Q1.At only $0.68 per share, some members of the Street see an attractive entry point.Maxim analyst Anthony Vendetti writes of REED, “…the COVID-19 pandemic has resulted in some slight reset delays, it has also generated robust supermarket trends, creating increased demand for REED products in grocery stores. The company continues to expand its distribution network and has increased its manufacturing capacity… REED continues to enhance its supply chain, only experiencing minimal disruptions due to COVID-19.”Overall, based on "REED’s differentiated product offerings and continued progress," Vendetti stays with the bulls. That solid position underlies Vendetti’s Buy rating, while his $2 price target implies a whopping 194% upside potential for the year ahead. (To watch Vendetti’s track record, click here)Like the other stocks in this article, REED has a Strong Buy consensus – and it is based on 3 Buy ratings given in the past 3 months. The shares have an average price target of $2.33, suggesting a 243% upside from current levels. (See Genco stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • Barrons.com

    GE Stock Pops Despite Some Bad News From Raytheon

    J.P. Morgan analyst Stephen Tusa says a recent update about aerospace from Raytheon Technologies bodes poorly for General Electric—but the market doesn’t yet reflect it.

  • Financial Times

    Chesapeake Energy: rise and fall of a US shale star

    Chesapeake Energy spearheaded the shale revolution a decade ago that ushered in an era of US energy independence, embodying a period of corporate extravagance as it rose to become a $35bn company. Now the indebted group is on the brink of a bankruptcy that would make it the biggest casualty of the turmoil sparked by coronavirus that is ravaging America’s oil and gas sector.

  • Las Vegas Casinos Reopen This Week, And Here's What Investors Should Expect
    Benzinga

    Las Vegas Casinos Reopen This Week, And Here's What Investors Should Expect

    After more than two months of being completely shut down, casinos on the Las Vegas strip will reopen this week for the first time as part of the city's "Phase 2" plan to safely return to normal. While reopenings will be a big step in the right direction for casino stock investors, Vegas will still have a steep hill to climb in the near term.What Happened? On June 4, MGM Resorts International (NYSE: MGM) plans to reopen the Bellagio, MGM Grand and New York-New York casinos, which represent a combined 39% of the company's total Las Vegas rooms. Caesars Entertainment Corporation (NASDAQ: CZR) also plans to reopen Caesars Palace and the Flamingo, which account for 32% of its total Vegas rooms.Wynn Resorts, Limited (NASDAQ: WYNN) also plans to open both its Wynn and Encore casinos. Las Vegas Sands Corp. (NYSE: LVS) is reopening the Venetian and the Palazzo.Why It's Important: The good news for casino stock investors is that other regional casinos that have already reopened have witnessed significant pent-up demand. For example, Mississippi Gulf Coast casinos reopened at half capacity for Memorial Day weekend and reported a 17.3% increase in gross gaming revenue for the weekend compared to last year. Bank of America analyst Shaun Kelley said Tuesday casinos in other regions of the country have demonstrated similar trends."Casino openings so far have shown signs of pent-up demand, a trend which we expect to persist in the near-term possibly making our down ~95% GGR estimates for Q2 too conservative," Kelley wrote in a note.See Also: Analyst: Why Penn National And Boyd Could Outperform As US Casinos Reopen What's Next? Unfortunately, Kelley said Vegas may be one of the slowest areas to recover due to its reliance on air travel, cancellations of events and conventions and relatively low pricing power. Kelley estimates air traffic makes up roughly 60% of Vegas' total visitors, and the latest air traffic data suggests travel remains down about 90% from a year ago.For investors looking to bet on a Vegas recovery, Bank of America has the following ratings and price targets for the four casino stocks mentioned: * Las Vegas Sands, Buy rating and $61 target. * Wynn Resorts, Buy rating and $95 target. * MGM Resorts, Underperform rating and $15 target. * Caesars, no rating.Benzinga's TakeFor the next several months, most investors will be looking past abysmal near-term numbers and hoping that their stocks catch a bid based on expectations that the economy will eventually return to normal.Las Vegas casino stocks will likely be closely tied to a recovery in air travel, and Bank of America estimates 2021 US airline revenue will be down just 18% from 2019 levels.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Latest Ratings for MGM DateFirmActionFromTo May 2020UBSMaintainsNeutral May 2020Credit SuisseAssumesNeutral May 2020B of A SecuritiesDowngradesNeutralUnderperform View More Analyst Ratings for MGM View the Latest Analyst RatingsSee more from Benzinga * 7 Sin Stocks To Buy During The Coronavirus Shutdown * Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * The Road To Recovery For Las Vegas Casino Stocks(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.