These cards will help you make the most of your spending in leaner times.
These cards will help you make the most of your spending in leaner times.
The carmaker took the wraps off a major operational and management shake-up on its CEO's first day in the role.
The Dubai-based construction company that helped build the world's tallest building and other engineering marvels in the United Arab Emirates announced Thursday it would enter liquidation, the final step in a long collapse from the country's economic crisis a decade ago hastened by the coronavirus pandemic. Arabtec Holding PJSC made the announcement after emails circulated Wednesday among developers suggesting the firm's end had come. Despite trying to claw its way out of the chaos left by Dubai's 2009 financial crisis, the firm ended last year with hundreds of millions of dollars in debt and losses.
Remember, Joe Biden happens to be the greatest defense of the status quo, because his administration created Obamacare. Second, I didn't hear anything that made me feel that the banks, long-time punching bags of the Democratic party, didn't even merit a whisper. No wonder that group just ignited with Discover , the credit card company, and the one-time pinata, Goldman Sachs , leading the way.
Experts say this advice from the personal finance personality ought to be ignored.
‘You’ll see it as soon as it’s finished,’ President Trump said of his tax returns during the first presidential debate.
PepsiCo's CFO Hugh Johnston talks with Yahoo Finance about the company's key new product launch and latest earnings report.
Nikola and GM continue talks to close on a manufacturing partnership, which a Wall Street analyst called critical.
How badly is COVID-19 hurting Americans on the cusp of retirement? In an interview, economist Teresa Ghilarducci, a professor at The New School in New York City and one of the nation’s leading experts on retirement, told me that half—that’s right, half—of Americans aged 55 and up will retire in poverty or near poverty. 80% of older Americans can't afford to retire - COVID-19 isn't helping More than 25 million older Americans are financially insecure - living at or below the federal poverty level.
New research highlights how Obamacare being overturned would bring a major tax cut for the richest Americans.
(Bloomberg) -- Barstool Sports founder Dave Portnoy took to Twitter to slam Deutsche Bank analyst Carlo Santarelli on his cautious view of Penn National Gaming Inc., a 36% equity-stake holder of Barstool.Portnoy tweeted a question to CNBC host Jim Cramer: “Do analysts ever get fired for being catastrophically wrong?” Santarelli has the lone sell rating on Penn National and his 12-month share price estimate is about 57% below where it currently trades. Penn National’s stock which closed at $72.70 on Wednesday, climbed as much as 3.1% today.Santarelli earlier reiterated his bearish view on Penn National, writing that there are “a lot of unfounded expectations” baked into the “lofty” share price. Still, the analyst revised his estimates higher to account for the casino owner’s third-quarter update issued Sept. 29, noting margin strength during the period.Santarelli declined to comment on Portnoy’s tweet.The Deutsche Bank analyst maintains that Wall Street is affording Penn “far too much credit” around sports betting and iCasino, noting that “there has been little to no incremental legislation that advanced the iCasino or sports betting agendas in the U.S.,” and even less data that would justify the expectations of some peers for a doubling of the total addressable market (TAM) for sports.Retail investors have essentially turned Penn National into an “internet meme of sorts,” which has attracted institutional investors from segments beyond the “traditional gaming arena,” Santarelli told clients. The craze has been further juiced by this “big picture” TAM story and Twitter and Instagram posts. Combined, this has created a “narrative that largely abandons fundamental rationale.”His price target moved to $31 per share from $22, but remains the lowest projection according to views compiled by Bloomberg.Meanwhile, Union Gaming analyst John DeCree drew praise from Portnoy after he predicted that Penn would be a triple-digit stock over the next 12 months as he raised his target to a Street-high $100 from $62 in a note dated Oct. 1. Portnoy referred to DeCree as “people with brains” in a separate tweet.Shares of Penn have climbed more than 180% since announcing that it would acquire a stake in Barstool for $163 million in cash and convertible preferred stock on Jan. 29. Today’s market capitalization sits at $11.5 billion versus $3.04 billion earlier this year, according to data compiled by Bloomberg.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.
USA TODAY reached out to tax attorneys and legal experts to get their reaction to the New York Times report on Trump's taxes. Here's what they said.
Despite being one of the most recognizable wireless carriers in the U.S., AT&T stock has had a rough 2020. But the stock does have some perks. Is it a buy?
It’s built on four index funds (or exchange-traded funds) that include the most basic U.S. equity asset classes: large-cap blend stocks (the S&P 500 (SPX) in other words), large-cap value stocks, small-cap blend stocks, and small-cap value stocks. This combination has outperformed the S&P 500 Index in six of the past nine decades.
Microsoft, FedEx, Amgen, and AbbVie—among others—came up in our screen for stocks that are inexpensive relative to their industry and are expected to see earnings growth.
Rocket Companies Inc (NYSE: RKT) shares traded higher by 7.6% on Thursday after the company inked a new deal with popular real estate listings platform Realtor.com.What Happened? Homebuyers shopping on Realtor.com will now see advertising from Rocket Mortgage for pre-approved mortgages. The ads will allow Realtor.com users to connect directly to a Rocker mortgage application, according to Inman.Why It's Important: Rocket shares have been on a bumpy ride since its August IPO, but investors were certainly bullish on the Realtor.com deal.Rocket subsidiary Quicken Loans is leaning into an extremely strong 2020 housing market. In early September, the company reported a $3.5 billion second-quarter profit on revenue of more than $5 billion. Loan origination volume was a record $72.3 billion for the quarter, up 126% from a year ago.The housing market has been booming since the Federal Reserve cut interest rates to near 0% back in March to stimulate the economy. On Wednesday, the National Association of Realtors reported a record 8.8% monthly increase in pending home sales in the month of August.Related Link: 'Tech Driven Growth Story': Analysts Initiate Coverage Of Rocket Companies Following Quiet Period What's Next? Investors will be watching to see if the housing market says hot in the fourth quarter and if the Realtor.com deal has any significant impact on Rocket's numbers."We're in a state of affairs in lots of areas of the nation the place stock is low, houses are promoting in days, so for a shopper to have the ability to discover a dwelling, get a verified approval, get that data day or night time to their agent and make a seamless supply is totally vital," Jay Farner, CEO of Rocket Companies, told Inman.Rocket's stock traded around $21.32 per share at publication time.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Pending Home Sales Up 5.9% In July, Ahead Of Expectations * Rocket Companies Jumps After Pre-Announcing 437% Revenue Growth(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Exxon Mobil's third-quarter loss may be much worse than feared as the coronavirus pandemic continues to weigh on oil prices.
Tesla, Inc. (TSLA) CEO Elon Musk has been busy as a bee since last week's highly touted "Battery Day" fell flat, dropping the stock more than 10%.The electric vehicle (EV) manufacturer signed a sales agreement with Piedmont Lithium on Wednesday, just one day after a report that plans to mine the substance in Nevada faced "stark obstacles." Musk then teased Twitter with talk about a Starlink IPO in "several years" just before Walmart Inc. (WMT) tripled its Canadian Tesla Semi order and Tesla announced an 8% drop in China Model 3 prices. Musk saved the best for last, with "familiar sources" telling EV industry portal Electrek last week that Tesla had achieved record delivery volume.
As the fourth quarter began, it’s a sensible time to start lining up stocks for the coming year. The investing environment is unsettled, at the least, with the coronavirus still behaving unpredictably, the election around the corner, and a strong, but somewhat unsteady, economic recovery in progress after the summer’s sharp recessionary pressures. It’s no wonder, then, that investors welcome the professional insight of Wall Street’s stock analysts.Those analysts have been working overtime through this eventful year, and with 2021 around the corner, they are starting to point out their best ideas for the new year. We used the TipRanks database to pull up the details on three stocks which the analysts describe as their 'top picks.' Let's take a closer look.SLM Corporation (SLM)The first Top Pick we’re looking at today, SLM Corporation, is better known as Sallie Mae. It’s a major loan company in the secondary education sector, providing financing, debt management, and servicing for student loans, both private and US government-guaranteed. The company has been a great beneficiary of the expansion of student loan programs – and the increase in college tuitions – over the past few decades.The headwinds facing the company are real. The virus pandemic forced university closures in the spring, and pushed classes to online venues in the summer and going forward to the fall. This has resulted in lower tuition charges, just as the economic disturbances have made it more difficult for loan recipients to make payments. Student loans are famously non-dischargeable through bankruptcy, but payments can be deferred – and that has been happening.With all of that, Sallie Mae started 2020 on a true high note. Revenues, and earnings, both spiked sharply upward in the first quarter, with the top line reaching $692 million and EPS coming in at 79 cents. There was an ominous sign, however, as earnings missed the forecast by 10%. That warning was borne out in Q2, when the coronavirus hit. Both revenues and earnings fell sharply. Revenues dropped by well over $300 million, and EPS turned deeply into negative territory. The EPS loss for Q2, at 22 cents, was far below the 6-cent profit expected. Wells Fargo analyst Moshe Orenbuch, rated 5-stars at TipRanks, believes that SLM has better prospects going forward should President Trump win reelection, but would still fare well under a Biden Administration. He writes, “[We] believe that SLM will rerate upward in a Trump repeat and eventually as investors realize that in a Biden presidency free public school tuition for all is a low priority with a high price tag…” Orenbuch goes on to add that SLM has a solid base in a social reality: “We think that the value proposition of graduating from college, especially for upper-middle class borrowers, entails a shoot at premium jobs/careers. As long as the vast majority of companies require college degrees, we expect little change to demand for higher education…”With solid demand as a base, and adequate prospects going forward no matter who wins in November, SLM earns Orenbuch’s Top Pick status and a Buy rating. Orenbuch gives SLM a $12 price target which suggests a 48% upside for the coming 12 months. (To watch Orenbuch’s track record, click here)Overall, SLM has a Strong Buy rating from the analyst consensus, based on 4 reviews breaking down to 3 Buys and 1 Hold. The shares are selling for $7.97, and their average price target of $9.33 indicates room for a 17% one-year upside. (See SLM stock analysis on TipRanks)Booking Holdings (BKNG)The next stock on our Top Picks list is a holding company. Booking Holdings is a leader in the online travel sector, with subsidiaries providing ticketing, bookings, and other travel services worldwide. Booking Holdings operates in 220 countries and 40 languages, and last year customers used the service to book 7 million airline tickets, 845 million hotel room nights, and 77 million car rental days. The company’s best-known brands are Booking.com and Priceline.As can be imagined, the travel restrictions put in place to combat the corona pandemic put a damper on BKNG’s business. This was reflected in the financial results; revenues and earnings plummeted in the first half of the year, with the Q2 results getting as low as $630 million at the top line. Earnings for the second quarter were even worse, at a net loss of $10.81. While the stock has partially recovered from the mid-winter market slide, it is still down 15% so far this year.Covering this stock for Cowen, analyst Kevin Kopelman sees Booking Holdings in a good place compared to its competition. He writes, “BKNG gained share vs the overall Hotel industry this summer (est Aug rev -45%, vs -55% for global industry), driven by large selection of Alternative Accommodations and strong position in Europe Leisure Travel. While Europe has become a short-term negative in Sep (est BKNG falling to -50%, global Hotel flattening at -55%), BKNG has nevertheless shown it is relatively well-positioned.”Looking at the travel and leisure sector as a whole, and reflecting on BKNG’s current status, Kopelman adds, “While bad news may not be over, we think this [price] represents a buying opportunity.”To this end, Kopelman selected BKNG as his top pick. The analyst rates the stock an Outperform (i.e. Buy) along with a $2000 price target. This figure suggests a 15% one-year upside potential. (To watch Kopelman’s track record, click here)Overall, with 11 Buys and 10 Holds set in recent weeks, Booking Holdings gets a Moderate Buy rating from the analyst consensus. Shares are selling for $1,700, and the average price target of $1,915 implies a 12% upside from current levels. (See BKNG stock analysis on TipRanks)Dynatrace, Inc. (DT)Last but not least is Dynatrace, an AI software company in the cloud sector. The company’s platform is designed to monitor and manage system architecture and cloud software as an all-in-one tool, giving network managers everything needed to minimize system strain and tag problems in one place.In these days of the ongoing corona crisis and a mass shift to remote working and virtual office spaces, Dynatrace’s product line has become more valuable than ever. This is clear from the company’s share performance – DT has only been trading publicly since August of last year, but in that time the stock has gained 71%.The quarterly results show this, too. The company’s first profitable quarter was Q4 of last year, and revenues continued to grow sequentially in Q1 and Q2 this year. In Q2, the top line was reported at $155 million, with EPS of 9 cents. The earnings beat the forecast by 80%. Not many companies have shown sequential revenue and earnings growth throughout the pandemic period – it’s a clear sign of strength for Dynatrace.Kash Rangan, 5-star analyst from Merrill Lynch, has chosen DT as his top pick, and explains why in a detailed note: "We walked away incrementally positive post the company’s first analyst day that was hosted virtually. It re-affirmed our view that Dynatrace has a highly differentiated technology, addressing a large and growing market ($30bn+), with a durable and balanced business model. Now that the move to the new platform and recurring revenues has been completed, in our view, DT can accelerate execution on becoming even more strategic with Global 15,000 customers (each with $1bn+ in revenues), which face increasingly complex multi-cloud environments."Accordingly, Rangan gives DT shares a Buy rating, with a $50 price target that implies a 20% upside for the year ahead. (To watch Rangan’s track record, click here)All in all, Dynatrace has a Strong Buy analyst consensus rating, based on 10 Buys and 2 Holds from recent reviews. The stock’s $48.91 average price target suggests room for 17% upside growth from the current share price of $41.81. (See Dynatrace’s stock analysis at 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.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
(Bloomberg) -- Royal Dutch Shell Plc dropped to the lowest in 25 years a day after announcing a companywide overhaul, demonstrating the scale of the challenge the biggest oil companies face convincing investors about their green ambitions.Along with its European peers, Shell is embarking on a transformation to become a cleaner, greener company with much fewer assets in oil by the middle of the century. While many investors have welcomed the new direction, others question a pivot into less-profitable renewablesShell’s B shares closed at 907.3 pence on Thursday, the lowest level since November 1995. It’s London-based competitor BP Plc also fell to a 25-year low for a second week running, closing at 218.2 pence.The Anglo-Dutch major announced Wednesday as many as 9,000 job losses by the end of 2022, which it predicts will result in cost savings of as much as $2.5 billion dollars. The redundancies are part of a wider restructuring of the company as it seeks to slash its greenhouse gas emissions and move into cleaner energy.Shell and its peers have been battling with the impact the coronavirus pandemic has had on global demand and oil prices. The major slashed its dividend for the first time since the Second World War, as well as capital spending earlier this year, in a bid to reduce costs.The stock has declined 59% year-to-date, compared to 22% for the FTSE 100 Index. Shell’s competitors BP Plc are down 54% this year, while Total has fallen by 42%.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.
Online sports betting and gambling is taking off in the U.S., and DraftKings is poised to be a leader, an analyst said.