Kroger Co (NYSE: KR) reported Thursday third-quarter resultsthat fell short of expectations. Kroger reported quarterly earnings of 47 cents per share, which missed the analyst consensus estimate by a penny. Kroger's management could have done a better job of emphasizing several metrics which showcase an improving business, Wells Fargo analyst Edward Kelly wrote in a note.
UPGRADE Dear Catey, I’m a single, 56-year-old female. I’m currently unemployed and am going to sell my house. I will walk away with at least $100,000. This is all the money I have at the moment. I will be looking for work (I was laid off).
The discount brokerage taps Tom Bradley, a former head of TD Ameritrade Institutional, to oversee its custody business for smaller RIAs.
At 35 and worth $70bn, why not cash in and kick back on a beach on a private island while making the odd donation to charity? The first are people like Amazon founder Jeff Bezos and Facebook chief Zuckerberg: bosses and entrepreneurs. More interesting are the second group: those who are not defined just by their work and wealth, including most “ordinary” millionaires.
Warren Buffett is undeniably the most closely watched, highest-profile investor in modern history. Not surprisingly, investors relentlessly clamor to match his success by analyzing his portfolio, hoping to absorb even a tiny morsel of Buffett's investment genius. Despite his unparalleled success, Buffett's investment model has always been transparent, straightforward, and consistent.
Benzinga’s Securities Lending Volatility Index (SLVX) Powered by Tidal Markets , is an indicator that forecasts stock market activity for broader indices and individual securities. To demonstrate the use ...
Bitcoin (BTC) is currently trading at just below $7,350 following a substantial 5% drop in price since last Friday. BTC broke most of its support levels during a huge sell-off in November as the coin looked to be free falling. However, the world's largest cryptocurrency found support near $6,700 last week and bounced back up to $7,800 before consolidating around $7,400. Will BTC recover soon? Let's take a look at Bitcoin's chart, courtesy of TradingView. At the time of writing, Bitcoin is on a very bearish trend. Lower highs are giving way to significant price drops. Since the massive bull market that took Bitcoin close to $14,000 earlier in the year, the coin has been dropping in value following aThe post Latest Bitcoin price and analysis (BTC to USD) appeared first on Coin Rivet.
In my experience as a money editor, I’ve received quite a bit of good (and bad) savings advice over the years. The bad? Anything that requires me to cut out a daily coffee. (Yes, I know my $4-a-day Starbucks...
Dec.05 -- Mary Barra, chief executive officer at General Motors, and Hak-Cheol Shin, vice chairman and chief executive officer at LG Chem, discuss their $2.3 billion joint investment in a new electric-vehicle battery plant to be built in Lordstown, Ohio. They speak with Bloomberg’s David Westin on "Bloomberg Markets."
Needham analyst Laura Martin, who is widely regarded as the most prominent bull on Roku stock, is now saying investors should buy digital ad company Trade Desk. (TTD) (TTD) provides ad buyers with a digital platform to create and manage their campaigns. On Friday, Martin raised her rating for Trade Desk shares to Buy from Hold, citing the company’s strong position in the digital ad market.
Experts worry that Sen. Rand Paul's plan to fix the student debt crisis will hurt Americans' retirement security.
Reading the news about the stock markets, it pays to remember that the giant corporations – the Apples and the Microsofts, the Walmarts and the Home Depots – have a habit of taking up all the available oxygen in the room. That is, they hog the headlines, and can obscure a view of the larger picture.That larger picture, examined with an eye for the unusual, can reveal some excellent stock deals. There are plenty of bargain deals in the equity markets, and they offer plenty of reasons for investors to look twice. We’ve used the TipRanks Stock Screener tool to search the database and find three that fit the profile, with a special focus on dividend stocks.By choosing the right filter settings, we could focus directly on stocks with solid upside potential, a Buy rating, and a dividend yield of over 5%. That last is particularly important, as a high dividend yield indicates a stock that will return income to investors at rates well above the average. A further refinement of the search, to narrow it down to small and micro-cap stocks, weeded out any large companies that likely already get plenty of press attention. The resulting search brought back 69 stocks that matched the profile – a far more manageable number for market research. We’ve chosen three of the high-yielding dividend stocks from that short list for a closer examination. Let's take a closer look:Cypress Energy Partners (CELP)The energy industry in North America is booming – that’s a fact. Extraction of oil and natural gas is big business across the United States – in Texas, the Dakotas, Appalachia – and in the Canadian West. There’s no lack of customers, as the US, in September, saw its first-ever month as a net oil exporter, and markets are expanding for natural gas, a cleaner burning alternative to petroleum derivatives.All of this gas and oil, and the customers that depend on it, would come to nothing if it weren’t for the midstream companies. These are the players who actually move the product – they control pipelines; tankers on road, rail, and water; terminals; and storage facilities. The midstream companies, while they don’t get the same attention as the extraction companies, make the business possible. Cypress Energy inhabits this sphere.The company operates in several segments of the midstream niche. It offers pipeline inspection and testing services across the United States, as well as water sourcing, gathering, disposal, and recycling facilities in the Bakken oil fields of the Dakotas. This micro-cap (market cap of $105 million) company reported strong financials, with Q3 revenues coming in at $108.9 million and net income at $5.5 million, while net debt was deleveraged by 17%.But for investors, the most important part was the dividend. For the quarter, CELP paid out 21 cents per share, or 84 cents annualized and a 10% yield, consistent with its payouts for the previous 10 quarters. That’s right – Cypress has maintained its dividend at almost 5x the S&P’s average yield for over two and a half years. It’s a flashing sign to investors that this stock is poised to give a solid return. This is backed up by the stock’s impressive 56% gain in 2019.In line with our search profile, CELP has only one recent analyst review, but that is a firm Buy. B. Riley analyst Tom Curran wrote last week, “Our confidence in Cypress Energy Partners' 2020 growth potential … has been significantly bolstered by the partnership's 3Q19 beat and outlook update… [and] research we have done that quantifies the U.S. oil and gas midstream's dual secular uptrends in annual total pipeline mileage and total miles inspected per year…”Curran puts an $11 price target with his Buy rating, indicating confidence in a 26% upside. (To watch Curran’s track record, click here)Green Plains Partners LP (GPP)Our second stock, Green Plains, operates in an industry adjacent to oil and gas midstreaming. GPP provides storage, transport, and terminal services to the fuel industry, with a network of storage tanks and transport assets for ethanol and other volatile fuels.GPP’s primary focus is on ethanol. The company owns 32 facilities in 5 Midwest and Great Plains farming states, plus Tennessee and Texas, and can handle 1.1 billion gallons per year. Terminal facilities across the South, and more than 2,800 rail tankers with a total capacity of 85 million gallons, extend the company’s ethanol transport network.Weak margins in Q3 definitely weighed on the company, but the outlook is better moving forward. CEO Todd Becker said, in the Q3 earnings conference call last month, that margins turned positive during Q4 and are expected to hold at positive or breakeven levels through mid-2020. He points out, “Our balance sheet has allowed us to be patient,” and important point, as the company has available $254 million in cash and cash equivalents, plus $260 million accessible in revolving credit agreements.From the standpoint of returns to investors, especially on dividends, GPP truly stands out. The company raised its dividend payment each quarter back in 2017, from 43 cents quarterly to 48 cents, and has held it steady at 48 ever since. The current annualized payment, $1.90, gives the dividend the tremendous yield of 14.1%. This is 7x the ~2% average yield of S&P listed companies, and the long history of consistent payments or incremental increases, plus the company’s strong cash position, are signs that the dividend is sustainable.Green Plains’ only recent analyst review comes from RBC Capital analyst Elvira Scotto. The five-star analyst published her note on the stock back in September, and strongly reiterated her stance in early November. In her September comments, she wrote, “We believe GPP's contract structure provides highly visible cash flow in the near-term. Longer-term we believe GPP can grow and further diversify through acquisitions given its strong balance sheet.”Scotto puts a $15 price target with her Buy rating on GPP, implying an upside of 11%. (To watch Scotto’s track record, click here)Advanced Emissions Solutions (ADES)The energy boom has resulted, of course, in increased use of fuels of all sorts, from oil to natural gas to ethanol – and even to coal. ADES works that last segment, providing technologies and solutions to control plant emissions pollutants from coal-fired power generation. The company also offers water purification technologies for industrial and municipal uses.The popular push toward a cleaner environment, and the political pull of environmentalist groups, has turned emissions cleaning solutions into a big business. ADES is a profitable company – not always a given in a competitive business with low margins. In Q3, revenues rose from last year’s $5.1 million to the current $19.1 million. Net income dropped, however, slipping 29% to $3.9 million. The drop in revenues is attributable to a negative hit on the company from the increasing popularity of natural gas and other cleaning burning fuels. Remember here that ADES works heavily with coal-fired power plants. Shares price fell 14% after the quarterly release, reflecting investor unease with the loss in net income.On a brighter spot for investors, however, ADES reported having $20.2 million in cash and cash equivalents on hand in September. While this was down 15% from the company’s cash position at the end of 2018, the spending was on shareholders. Over the course of 2019, ADES has been returning income to investors through dividends and buybacks. The dividend of 25 cents per quarter has been stable for over two years, and management’s actions this year shows a commitment to maintaining it. The $1 annualized payment gives a yield of 9.8%, a boon for investors, while the 43 % payout ratio shows that the dividend is easily sustainable.H.C. Wainwright analyst Amit Dayal is bullish on ADES, writing on November 14, just after the earnings report was released, that management is confident that they can win and renew contracts above historical levels, and drive growth into the 15% to 20% range next year. He says, “We are projecting overall top line revenues of $74.5M in 2019 and expect these to rise to $111.3M in 2021…”Dayal rates ADES as a Buy, with an $18 stock-price forecast. His target suggests an impressive 77% upside potential to the stock, indicating confidence that the recent slip in share price was a more of a blip. (To watch Dayal’s track record, click here)
“My hands are dirty. I feel horrible,” said a Ford engineer who played a key role in developing the popular compact cars.
The top-performing retailer smashed earnings expectations and also raised its full-year earnings guidance. CEO Gary Friedman struck a bullish tone when talking about the company's international expansion plans.
(Bloomberg Opinion) -- One of the objectives of Joe Biden’s tax plan, clearly, is to increase the amount of taxes wealthy Americans pay without imposing a new tax on Americans’ wealth. By this standard — and a few others for which economic conservatives can be grateful — it succeeds.Biden’s plan is far from ideal. But in today’s political climate, and compared to some proposals offered by his rivals for the Democratic presidential nomination, it is realistic and makes an honest effort to limit any negative impact on economic growth.A lot of attention has focused on the plan’s increase of the corporate tax rate to 28% from 21%. But the changes to the individual tax code are also important, in particular its treatment of capital gains: It would increase the maximum long-term tax rate on capital gains from 23.8% to 43.4%, and it would end the favored tax treatment of capital gains when they are passed on as an inheritance.That is an eye-popping increase in the capital gains tax. And while there is close to a consensus among tax experts that large increases in the capital gains tax can be self-defeating, Biden’s plan tries to mitigate them.There are at least three reasons even liberal economists are wary of higher capital gains taxes. Biden’s plan addresses one of these concerns directly, and another is rendered less disconcerting by the changing global economy.First, the revenue raised by capital gains taxes is highly sensitive to the tax rate, because investors tend to delay the sale of assets in order to defer tax payments. In particular, older investors can choose never to sell their investments at all and simply pass them on to their heirs. When they die, all the tax liability they incurred over their lives is erased.For example: Grandma bought Apple stock for $2 two decades ago. When she died last month, she gave all her shares, now worth $260 each, to her grandson. If he sells them next week for $265, he pays taxes only on that $5 profit — not on the $263 rise in value since his family bought the stock.Under Biden’s plan, however, he would have to pay taxes on $263. This provision would make it much harder for investors to avoid the capital gains tax.There is another reason capital gains taxes are traditionally lower than those on ordinary income. High tax rates on individual investors discourage savings generally. Savings help fund business investment, which in turn drives productivity growth and higher wages. So encouraging greater savings has long been seen as way to increase wages and incomes overall.The current U.S. economy, however, attracts savings from all around the world. The key determinant of U.S. investment is not necessarily the tax treatment of domestic investments, but how favorable returns on capital are in the U.S. relative to the rest of the world. Taxing American investors at higher rates doesn’t necessarily put U.S. capital at a disadvantage.Unfortunately, Biden’s plan does little to address a third argument against higher capital gains taxes. A large portion of the tax falls on investors in public corporations. Corporations already pay a 21% tax rate. When combined with the 23.8% tax rate on capital gains, the effective tax rate is 39.8%, just the above the plan’s proposed maximum rate of 39.6% on individual income.Raising the capital gains tax rate to 43.8%, along with Biden’s proposed corporate tax rate increase to 28%, would create an effective top tax rate of 59.2% on publicly traded companies. That’s extraordinarily high, and would undoubtedly both reduce the amount Americans invest in the stock market and encourage public companies to go private. Such tax-avoidance schemes would decrease efficiency, and the Biden plan does little to compensate for that.Overall, Biden’s proposal would hit investors hard, and the increase in the corporate tax rate would reduce GDP in the long run. But it needs to be considered in context of the Democratic campaign.Compared to the wealth tax proposed by Elizabeth Warren and Bernie Sanders, the mark-to-market capital gains tax proposed by Cory Booker, or the full repeal of the corporate tax cut advocated by Pete Buttigieg, it’s a moderate proposal. (Michael Bloomberg, the founder of Bloomberg LP and a Democratic presidential candidate, has yet to release a detailed tax plan.) Economic conservatives should take Biden’s plan seriously.To contact the author of this story: Karl W. Smith at firstname.lastname@example.orgTo contact the editor responsible for this story: Michael Newman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Karl W. Smith is a former assistant professor of economics at the University of North Carolina's school of government and founder of the blog Modeled Behavior.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Headlines moving the stock market in real time.
These two real estate investment trusts -- both associated with the Gladstone name -- offer monthly dividends that provide investors a steady source of income, explains Ned Piplovic, editor of DividendInvestor.
(Bloomberg) -- Elon Musk says he doesn’t have a lot of cash.Musk’s wealth came up in the second day of his testimony before a federal jury in Los Angeles where the Tesla Inc. and SpaceX chief executive is on trial over a tweet in which he referred to a British cave expert as a “pedo guy.”After an unsuccessful objection from his lawyer, Musk told the jury he has Tesla stock, and SpaceX stock, with debt against those holdings, and his net worth is about $20 billion. But contrary to public opinion, he said, he didn’t have much cash. Musk finished testifying after a total of about six hours on the stand over two days.Caver Vernon Unsworth sued Musk over the “pedo guy” tweet, which the CEO called “a flippant, off-the-cuff insult.” Musk said he was responding to Unsworth’s criticism of Musk’s effort to help rescue members of a Thai soccer team from a flooded cave in 2018. Musk and engineers at his companies prepared a mini submarine to help with the rescue efforts. The 12 kids,aged 11 to 16, and their coach were ultimately saved without the sub.Usnworth, who knew the caves well, ridiculed the high-profile effort from Musk. He told CNN that Musk could “stick his submarine where it hurts” and called the idea a PR stunt with no chance of working.That angered Musk, who said a team of engineers worked very hard to build the sub to save the boys. He said Unsworth’s comments denigrated the efforts of his team.Thai rescue officials were “very happy” with his team’s effort and the government thanked him for it, Musk said, contradicting Unsworth’s comments in the CNN interview.Musk also explained to the jury his penchant to tweet. (He retweeted a Tesla post during a break in his testimony.)Musk said he likes to solicit public input on Twitter.“There are pretty smart people out there,” Musk said.Despite Musk’s status as one of the richest people on the planet, his net worth is largely illiquid.The Bloomberg Billionaires Index puts his fortune at $26.6 billion. That comprises an estimated $14.6 billion stake in SpaceX. Musk has said previously he doesn’t intend to sell any of his holdings in the closely held company.Musk has also long been a buyer of Tesla shares to bolster his $11.4 billion holding.He’s pledged about 40% of his Tesla shares to unlock some of the wealth without shrinking his stake. A May filing revealed that he had access to about $500 million of credit lines from affiliates of Morgan Stanley, Goldman Sachs and Bank of America as of April 30. Still, that’s a fraction of his $26.6 billion overall fortune on the Bloomberg Billionaires Index and it’s unclear how much of those credit lines remain unused.Musk’s wealth is an issue at the trial because a jury may consider evidence of his net worth in determining punitive damages. But Musk’s lawyers argued in court papers that the jury can’t award more in punitive damages than in compensatory damages. There is no way the jury would award more than $1 billion in compensation, so Musk’s net worth exceeding that isn’t relevant, the lawyers said.In his testimony, Musk cited his mother as having some good advice, that Unsworth might want to follow.“As my mom said, if somebody insults you, just let it go,” Musk said.In September, Musk revealed in court documents that one of his trustedaides, Jared Birchall, paid $50,000 to hire a private investigator who looked into Unsworth. Attorneys for Unsworth said the investigator was offered a $10,000 bonus if he was able to confirm nefarious behavior -- which was never paid.Birchall worked at Morgan Stanley until 2016 and is the manager of Excession LLC, Musk’s family office.He took the stand after Musk.Birchall testified he hired James Howard, who later turned out to be a conman.After Howard came up with what later turned out to be fake dirt on Unsworth, such as that he had been visiting Thailand since the 1980s and that he met his wife when she was a teenager, Birchall, using the name James Brickhouse, told Howard to leak the information to media in the U.K.“I believed him to be a credible investigator,” Birchall told the jury. “I understood these things to be facts. I asked him to share facts.”Musk also enlisted help from a second investigator at the Palo Alto, California-based law firm Cooley LLP. Cooley didn’t respond to a request for comment.The case is Unsworth v. Musk, 18-cv-08048, U.S. District Court, Central District of California (Los Angeles).(Updates with Birchall testimony.)To contact the reporters on this story: Dana Hull in San Francisco at firstname.lastname@example.org;Edvard Pettersson in Los Angeles at email@example.com;Tom Metcalf in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, Joe Schneider, Peter BlumbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Amid the elation over Friday’s jobs report, investors are ignoring the fact that Larry Kudlow said President Donald Trump is not ready to sign a trade deal with China.
Price action, internal momentum and volume aren’t great, but that doesn’t matter when the president wields his baton.
Dec.05 -- Dan Fuss, Loomis Sayles & Co. vice chairman, expresses his concerns about the high-yield bond market. He speaks with Bloomberg's Amanda Lang and Shery Ahn on "Bloomberg Markets."
The U.S. shale patch is showing serious signs of financial distress, but a few companies continue to drill profitably for oil & gas in America’s most prolific shale basins
But did someone make a mistake or was it a case of market manipulation?