The New York Stock Exchange has begun the process to delist Houston-based EP Energy Inc.'s (NYSE: EPE) stock because its price per share was too low. Trading of the company's common stock was suspended on May 23, and the NYSE plans to apply to the U.S. Securities and Exchange to delist EP Energy, according to a press release. EP Energy expects its common stock will begin trading on the OTC Pink marketplace under the symbol “EPEG” May 24, but the company's business operations and SEC reporting will not be affected.
There's a binary outcome for the stock market tied to the ongoing trade talks between the U.S. and China, according to Goldman Sachs. Put simply, the implementation of additional tariffs could lead to another stock market pullback, while a trade deal is set to boost stocks. According to Goldman's proprietary Financial Conditions Index (GSI), financial conditions have tightened since the latest escalation of trade talks, which began on May 5, with an ominous tweet from President Trump threatening to raise existing tariffs on Chinese goods to 25% from 10%.
On a per-share basis, the Phoenix-based company said it had profit of $2.17. The homebuilder posted revenue of $241.1 million in the period. For the year, the company reported profit of $68.6 million, ...
In a new interview, Dallas Mavericks owner Mark Cuban sharply criticized the tariffs slapped on Chinese products by President Donald Trump, proposing instead that the U.S. stop allowing Chinese companies to go public or trade on U.S. stock exchanges. I'd shut down all Chinese IPOs—that's the first step,” says Cuban, a billionaire entrepreneur and host of the show “Shark Tank. Given [Trump's] propensity for using Twitter and throwing warning shots, I would throw out there that we might put a halt on the trading of Chinese-listed stocks in the United States.
The House overwhelmingly approved a bill Thursday to promote retirement security by making it easier for small businesses and other companies to offer retirement plans. The bipartisan bill, approved 417-3, also makes it easier for workers to transfer retirement plans when they change jobs and allows part-time workers to save for retirement. Rep. Richard Neal, D-Mass., chairman of the tax-writing House Ways and Means Committee, called the bill the most significant retirement legislation in 15 years.
The battered chip sector tends to do well after Memorial Day
That bias can prevent investors from realizing compelling ex-US opportunities with Vanguard funds, such as the Vanguard Total International Bond ETF (NASDAQ:BNDX). Among Vanguard funds, BNDX does not grab many headlines, but this year, investors are waking up to this ETF's story. Year-to-date, BNDX has added $3.61 billion in new assets, a total surpassed by just nine other ETFs.
“We view the quarter’s gross margin miss as a classic early turnaround stumble,” Loop Capital Markets analyst Laura Champine wrote. Lowe’s posted its first-quarter results before the market opened Wednesday. Champine said she expects the company’s margin issues to be short term and kept a hold rating with a $102 price target.
The struggles for Chinese-related stocks is very real, especially those based in China themselves. Most bounced attempts have been rejected quickly. This season's earnings releases have been met with heavy selling.
"Once you build a tower, you can just add another antenna to it when you pick up a new client, so the margins are terrific," he says.
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. For 2019, more than 67 million Social Security recipients saw a 2.8% cost-of-living adjustment (COLA) to their monthly benefits.
The CEO of Atlanta-based fintech firm GreenSky Inc. spoke out on May 23 to try to calm investors after the price of its shares (Nasdaq: GSKY) continued to fall. GreenSky investors were roiled May 15 when the company disclosed in a quarterly filing with the Securities and Exchange Commission that it expects Regions Financial Corp. (NYSE: RF) not to renew a funding commitment to GreenSky when it expires later this year, saying Regions "has made a strategic decision to reduce its use of indirect lending programs." GreenSky's technology is used by more than 14,000 merchants to offer payment options to consumers. Banks use GreenSky's technology to provide loans to super-prime and prime consumers nationwide.
Investors tend to buy bonds, especially government bonds, when they are worried about the economy. Bonds are safer than stocks. The Federal Reserve may not want to hear the message in the falling 10-year yield, but stock market investors would be best suited to take off their blinders,” warned Danielle DiMartino Booth, a former Federal Reserve adviser and CEO of Quill Intelligence.
Amazon was rising in premarket Friday after analysts at Piper Jaffray said shares of the online retailing giant will reach $3,000 between mid-2021 and mid-2022. The move higher would represent a 65% upside for the stock, which was up 0.75% to $1,829 in premarket trading Friday. "We have a high degree of confidence that AMZN shares can reach this level with no major acquisitions or other significant changes to the business.
At first glance, all seems serene on a spring morning at the research-and-development campus of SK Innovation, one of Korea's biggest industrial conglomerates. The campus sits in Daejeon, a tidy, planned city an hour's high-speed-train ride south of Seoul that the national government has built up as a technology hub. Dotting SK's rolling acres are tastefully modern glass-and-steel buildings that wouldn't be out of place in a glossy architecture magazine.
"Once you build a tower, you can just add another antenna to it when you pick up a new client, so the margins are terrific," he says.
Aurora Cannabis (NYSE:ACB) reported its third-quarter results on May 15. They didn't meet analysts' consensus expectations. ACB stock temporarily lost some ground, only to regain those losses by the end of the day's trading. That's a common occurrence when it comes to Aurora Cannabis stock and most other publicly traded pot stocks. The cannabis industry is still the Wild West, featuring maximum volatility and huge risks and rewards.As Canada gets set to legalize marijuana edibles and cannabis-infused drinks in October, Aurora is preparing to meet the demand for those products, whose sales could surpass those of the actual leaf.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Stocks to Buy for This Decade's Massive Megatrend In recent articles, I've changed my tune on ACB stock, as Aurora has demonstrated that it's building a foundation that's as wide as it is tall. If you own Aurora stock, this ought to be music to your ears. The easy play for Aurora would be to focus on profitability at the expense of diversified revenue streams that, down the road, will bear significant fruit for all its stakeholders. Canada's cannabis companies, including ACB, must be blamed for failing to deliver enough supply for recreational pot smokers in the months following the legalization of recreational marijuana in October 2018. That's why Aurora is doing as much as it can ahead of time to ensure this October isn't a repeat of last year's failure to deliver. Here's how it plans to do that. Holding Back InventoryThere's no question that Aurora is continuing to build its inventory. In Q3, it almost doubled its production versus the same quarter a year earlier, to 15,590 kilograms. It generated C$29.1 million from selling pot for medical purposes and C$29.6 million from sales of marijuana for recreational purposes. Overall it sold 9,160 kilos of cannabis in Q3, 31% more than in Q2.However, since edibles, concentrates, and cannabis-infused drinks will soon be legalized in Canada , it's got to ensure it has enough cannabis inventory to make these products. "What we're trying to do is learn from the challenges of the industry last year and the initial launch of consumer legalization -- we absolutely have to have sufficient inventory to launch these products properly," Aurora CFO Glen Ibbott said on Aurora's earnings conference call. "So if that means taking a little bit of revenue out of Q4 and putting it into inventory, into new products, then that's what we'll do."So, even though Aurora expects to produce 25,000 kilograms of cannabis in Q4, 60% higher than in Q3, its top line may come in below expectations.For now, Aurora will focus on edibles, vape pens, and concentrates, leaving infused drinks until later, when it's had time to understand what consumers are looking for in that area. While there's a risk that ACB will fall behind Canopy Growth (NYSE:CGC) and Hexo (NYSEAmerican:HEXO) on the drinks front, potentially hurting ACB stock in the process, given ACB's failure to make a partnership deal with a large beverage maker such as Constellation Brands (NYSE:STZ) or Molson Coors (NYSE:TAP), it makes sense for Aurora to postpone launching infused drinks. Strategy Is Positive for ACB StockWhen I wrote my past articles, before I began to understand Aurora's game plan, I viewed its CEO, Terry Booth, as a snake-oil salesman who was conning the owners of ACB stock out of their hard-earned dollars. But the more I read about Aurora's business, and more importantly, its focus on delivering for its end users, the more I see the method to its madness and the more I believe that its strategy will prove to be positive for ACB stock. At the moment, the balance between supply and demand in Canada is out of whack. It doesn't help that black markets continue to account for a significant percentage of recreational sales. In the first three months of 2019, 38% of Canadian cannabis users bought marijuana from the black market, down from 51% a year earlier. But as the volume of legal pot sold goes up, and prices go down, companies like Aurora that are building significant production capacity will continue to reap substantial benefits from the Canadian recreational and medical markets. I believe that edibles, cannabis-infused drinks, and concentrates will be a bigger part of the Canadian cannabis landscape than the leaf itself. Older, non-smoking users will be more likely to try products other than the leaf and realize that marijuana is healthier than pounding back alcohol. Aurora's decision to forego revenue in the near-term to prepare to meet this future demand, is creating a stronger foundation at home and will allow it to grow faster internationally. As a result, ACB will become a global player capable of holding significant market share outside of Canada, and ACB stock will perform better over the longer term. The Bottom Line on ACB StockThe owners of marijuana stocks, rightly or wrongly, seem to be focused on production growth rather than revenue or earnings growth. As a result, the faster Aurora gets to 25,000, 50,000, and 100,000 kilograms of cannabis produced in a quarter, the faster ACB stock will rise. While I don't like the fact that ACB lost C$158.4 million in Q3, three times the loss than analysts had expected on average, investors ought to be happy that its overall production continues to gather steam.The future of ACB stock continues to get brighter but I wouldn't own Aurora stock if your eyes aren't wide open to the fact that its volatility remains significant. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post Aurora Cannabis Stock Continues to Gather Steam appeared first on InvestorPlace.
Stepping up Beijing's propaganda offensive in the tariffs standoff with Washington, Chinese state media on Friday accused the U.S. of seeking to "colonize global business" with moves against Huawei and other Chinese technology companies. There was no word from either side on progress toward resuming talks between the world's two largest economies, though President Donald Trump said he expected to meet with his Chinese counterpart, Xi Jinping, next month at a G-20 meeting in Japan. Negotiations over how to cut the huge, longstanding U.S. trade deficit with China and resolve complaints over Beijing's methods for acquiring advanced foreign technologies foundered earlier this month after Trump raised tariffs on billions of dollars of imports from China.
VF Corporation (NYSE: VFC) share prices dropped nearly 2% Wednesday after the Denver-bound apparel giant announced better-expected earnings for the quarter and 2018-19 fiscal year that just concluded but tempered its growth forecast below what analysts were expecting. The Fortune 250 company, which now is headquartered in Greensboro, North Carolina, but is in process of moving its headquarters and the main offices for its five outdoor brands to Denver this summer, reported full-year revenue of $13.8 billion — a boost of 12%, or 7% excluding acquisitions net of divestitures. Its adjusted earnings per share saw an even greater 20% boost for the fiscal year that concluded in March, landing at $3.78 for the 12-month period.
Warren Buffett is arguably the best investor of all time. Self-directed investors can learn from his success by studying his stock market holdings, which are published in regulatory filings with the U.S. Securities & Exchange Commission, notes Ben Reynolds, editor of Sure Dividend.
The loan was issued by Berkadia, a lender co-owned by Warren Buffett's Berkshire Hathaway Inc. and Jefferies Financial Group Inc., in a deal that's backed by government-owned Freddie Mac, according to a person familiar with the matter who asked not to be named discussing the private transaction. The arrangement increases the government's exposure to Kushner Cos. at the same time that its former chief executive officer is one of the most powerful people in the White House. Jared Kushner divested ownership in many of the company's assets to close family members when he joined the government.
Cisco (NASDAQ:CSCO) is becoming the latest to buck all expectations and turn once more into a star performer. Cisco stock peaked around $80 a share in 2000, a lofty level that most analysts assumed the shares would never reach again. What's led Cisco's revival, and will the good times continue?
Many Americans worry about running out of money in retirement -- or not having enough savings to maintain the lifestyle they have planned. In addition to Social Security benefits and pensions, annuities are one of the few retirement options that can provide guaranteed income for your lifetime. “It can serve as longevity insurance—a hedge against the financial risk of living to a very old age,” says annuity expert Ken Nuss, CEO of AnnuityAdvantage.