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- Reuters
Brazil's Neoenergia to spend $450 mln to double installed capacity
The board of Brazilian power holding company Neoenergia SA has approved 1.9 billion reais ($456 million) in capital expenditure to build a major wind power complex composed of 12 separate wind farms, the company said on Thursday. The company, which is 52.5% controlled by a unit of Spain's Iberdrola SA, said in a securities filing that the complex in the northeastern Brazilian states of Piaui and Bahia, known as Oitis, will have an installed capacity of 566.5 megawatts (mW). Neoenergia, which went public in June, currently has an installed capacity of 516 mW, meaning that construction of the Oitis complex will more than double the size of its operations.
- Investing.com
Gold Prices Rise, Recover from Losses After Fed’s Decisions
Gold prices rose on Friday in Asia, recovering from losses suffered in the previous session following the conclusion of the U.S. Federal Reserve's latest policy meeting. Gold Futures for December delivery traded 0.4% higher at 1,512.25 per ounce on the Comex division of the New York Mercantile Exchange by 12:42 AM ET (04:42 GMT). Gold prices recovered today, but traders remained cautious amid uncertainty over the next Fed's move.
- MarketWatch
PowerBar maker Bellring Brands files for IPO
Bellring Brands Inc. (brbr) a spinoff of Post Holdings Inc. (post) has filed for an initial public offering, according to a Friday filing. The maker of PowerBar seeks to sell $100 million worth of shares, although that's often a placeholder used to calculate filing fees. Cereal maker Post will own a majority of the combined voting power of the new company and "will have the ability to control the direction of our business," Bellring said in its prospectus.
- Investopedia
What Is the Size of the Average Retirement Nest Egg?
What is the size of the average retirement nest egg? A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in corporate-sponsored 401(k) plans at the end of 2018 was $95,600. As you might expect, young workers tend to have less money saved for retirement than older workers do, in part because their salaries are usually lower and they haven't had as many years to contribute to their retirement accounts.
- Bloomberg
J.C. Penney Said to Prep for Debt Talks Ahead of Holiday Season
J.C. Penney Co. is preparing for talks with its creditors on possible transactions to ease its debt burden and give the company's new chief executive more breathing room ahead of the critical holiday season. Advisers for the department-store chain and some of its bondholders are close to signing non-disclosure agreements, and expect to do so by the end of September, according to people with knowledge of the matter. Those agreements would allow advisers for groups of first-lien, second-lien and unsecured bondholders access to confidential company information, the people said, who asked not to be identified discussing private negotiations.
- Investopedia
What's the Average 401(k) Balance by Age?
It can be hard to determine how much you'll need, exactly, for your own post-career days, but finding out how others are planning—or not—can offer a benchmark for setting goals and milestones. k) Plan Balances by Generation The good news is that Americans have been making an effort to save more. According to Fidelity Investments, the financial services firm/brokerage that administers more than $7.4 trillion in assets, the average 401(k) plan balance reached $106,000 in the second quarter of 2019—a 2% increase from $104,000 in Q2 2018.
- TheStreet.com
This 5.5% Yielding Dividend Stock Is Way Too Cheap
Kohl's is a high dividend stock and appears to be undervalued as well. Long-term investors are likely to be rewarded for being patient with Kohl's stock. Business Overview and Recent Earnings Kohl's is a department store operator, offering women's, men's and children's apparel, housewares, accessories and footwear in more than 1,100 stores across 49 states.
- Bloomberg
Verizon Media Group CEO on Company Reorganization, Revenue Diversity Plan, Asia Focus
Guru Gowrappan, executive vice president and group chief executive officer at Verizon Media, discusses the reorganization of the company, his plan to diversify revenue, how different the business will look in the future and his strategy for Asia. He speaks exclusively on “Bloomberg Markets: China Open” from the sidelines of the Milken Institute Asia Summit in Singapore.
- MarketWatch
Starbucks launching a location just for mobile orders
Starbucks Corp. (sbux) is launching a new store format, Starbucks Pickup, that will be exclusively for Rewards members who use the mobile-order-and-pay option. New York City members can place their orders in the app, select the Penn Plaza location, and their order will be on a status board when they arrive. The system resembles the Starbucks Now express service store that launched in Beijing this summer.
- Investopedia
Avoid Paying Taxes on Social Security Income
With no inflation adjustment having been made to these benchmarks since 1983, they're now exceeded by most taxpayers who receive Social Security benefits and have other sources of income, too. A number of strategies, both before and after you retire, can limit the amount of tax you pay on Social Security benefits. Reducing your taxable income during the years in which you're drawing Social Security can have other benefits, too, such as lowering your Medicare premiums, which vary by income.
- Reuters
Delaware judge says Tesla board must face trial over Musk's mega-pay package
A Delaware judge ruled on Friday that Tesla Inc's board of directors must defend at a trial Chief Executive Elon Musk's multibillion dollar pay package, which a shareholder lawsuit said unjustly enriched the head of the electric vehicle company. Tesla estimated the 2018 compensation package was worth $2.6 billion when it received stockholder approval in March 2018, although stock analysts at the time said it could be worth up to $70 billion if the company - which has yet to post an annual profit - grew quickly. The compensation award includes no salary or cash bonus for the Silicon Valley billionaire Musk, but sets rewards based on Tesla's market value rising to as much as $650 billion over the next decade.
- InvestorPlace
5 Small Cap Stocks That Could Soar 200%
Because of this, you won't find many low-risk stocks with multi-bagger potential. Instead, all the stocks with multi-bagger potential are often also accompanied with big risks. Don't have the time to do all that analysis across hundreds of small cap stocks?
- Bloomberg
Merkel Coalition Reaches Landmark Plan to Cut Greenhouse Gases
German Chancellor Angela Merkel's ruling coalition came to an agreement on a comprehensive package aimed at cutting greenhouse gases. Bloomberg's Matt Miller reports on "Bloomberg Surveillance."
- MarketWatch
Maria Bartiromo talks artificial intelligence, the dot-com crash and why she’ll never retire
Maria Bartiromo has been covering business news for 30 years, and she's got her eye on the next big wave: artificial intelligence. The Fox Business Network anchor, who recently re-signed with the network for a multiyear deal, is releasing an hour-long investigative documentary about artificial intelligence. The segment, which has been in the works for a year now, includes interviews with chief executive officers of major companies including IBM (IBM) and Ford.
- MarketWatch
3 things NOT to do with your savings now that the Fed has cut interest rates
The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another. Interest rates on loans and deposits are typically influenced by the Federal Reserve's decisions vis-à-vis the federal funds rate.
- MarketWatch
GM can’t afford to give those striking workers what they want
In the not-quite-a-week that General Motors workers have been striking, seeking better wages for less-tenured workers and trying to hang on to their unusually sweet deal on health insurance, there has been the usual choosing of sides. On Twitter, Rep. Alexandria Ocasio-Cortez has slammed GM (GM) as greedy during a time of what she called record profits, specifically after the auto maker said it would suspend payments for strikers' health insurance. In the New York Post, conservative economist Steve Malanga sided with the company, incongruously citing 10-year-old earnings reports that have little apparent connection to today's GM.
- MarketWatch
Roku’s stock rocked as analyst asks, ‘Is Roku broku?’
The streaming-media player's stock (ROKU) dropped 18.3% in very active afternoon trading, and has now shed 25.9% this week. This week's selloff was highlighted by Wednesday's 13.7% plunge, after Comcast Corp. (CMCSA) said it will start giving away its Xfinity Flex streaming-media player for free to those who subscribe to the cable operator's internet-only plans. On Friday, Pivotal Research analyst Jeff Wlodarczak sent a note to clients titled, “Is Roku Broku?,” as he started coverage of Roku with a sell rating and stock price target of $60, which is 45% below current levels.
- TheStreet.com
J.C. Penney Stock Surges on Report of Creditor Talks to Ease Debt Burden
J.C. Penney shares jumped 16% after Bloomberg reported the company was preparing for talks that could ease its debt burden ahead of the critical holiday shopping season. Citing people familiar with the matter, Bloomberg said the department-store chain's advisers and some of its bondholders are close to signing non-disclosure agreements that include receipt of confidential company information. A spokeswoman for Plano, Texas-based J.C. Penney declined to comment to Bloomberg on its report.
- The Wall Street Journal
AT&T Sale of DirecTV Would Be No Blockbuster
Separating DirecTV would remove cash flows that AT&T needs to pay a dividend and service debt.
- Investopedia
Find out how much tax you'll pay on a Roth IRA conversion.
You can shift money from a tax-deferred retirement account into an after-tax account—but how much tax do you pay on that Roth IRA conversion? And does it always make financial sense to do so? The biggest difference between Roth IRAs and tax-deferred retirement accounts like traditional IRAs and 401(k)s is when you pay the tax: · Traditional IRA and 401(k) contributions are tax-deductible the year you make them, and you pay income tax on withdrawals in retirement.
- American City Business Journals
Kratos lands $35 million Air Force contract for drones
The Sacramento operation of Kratos Defense & Security Solutions Inc. won another military contract to build $35 million in parts for jet-powered aerial target drones. San Diego-based Kratos (Nasdaq: KTOS) said these parts were being ordered by the U.S. Air Force, to be delivered by March 30, 2024. In June, Kratos received new orders from the U.S. Navy and Air Force that combined for $57 million for its jet-powered unmanned aircraft.
- MarketWatch
Fed rates cuts are a mistake, says Oaktree’s billionaire co-chairman
We're going to hear from a busy lineup of Federal Reserve officials on Friday, and they may shed more light on why the bank was so divided on this week's interest rate cut. Our call of the day, from Oaktree Capital's billionaire co-chairman Howard Marks, also weighs in on the Fed as he says the economy doesn't really need the rate cuts it's been doling out. Our economy is the best performing in the world of major economies.
- InvestorPlace
3 Top Stock Trades for Monday: ROKU, AMZN, S&P 500
Top Stock Trades for Tomorrow #1: ROKU We covered Roku (NASDAQ:ROKU) earlier this week, but given the drumming that it took Friday — down more than 20% at one point — I thought it was worth looking at again. Shares bounced on Thursday following a test of the 50-day moving average. However, they began Friday under pressure after Pivotal Research initiated the stock with a sell rating and $60 price target.
- Investor's Business Daily
Top Investors: You'll Be Sorry If You Miss These Future-Building Growth Stocks
"We are in the early days of one of the most innovative times in history," said Patrick Kelly, who runs the $559 million Alger Focus Equity Fund (ALGRX). The fund's bets on innovation are reflected in holdings of leading growth stocks like Apple, Carvana, Visa and PayPal Holdings. Kelly and colleague Ankur Crawford hunt for innovative growth companies undergoing what they call positive dynamic change.
- TipRanks
Meet Aurora Cannabis’ (ACB) New Bear
Despite this fact, most analysts following Aurora stock, notes Kirk, are projecting unprecedented levels of growth for Aurora Cannabis -- and in this case, "unprecedented" can be best defined as "historically unlikely." Whereas Kirk notes that consensus expectations call for Aurora to swing from negative C$157 million in profit in 2019 to positive C$241 million in 2021, the analyst predicts profitability will be much longer in coming. He projected negative earnings before interest and taxes of C$314 million this year, for example, followed by negative C$265 million in 2020, negative C$199 million -- indeed, no operating profit whatsoever before 2024 at the earliest.
