Are you putting away enough for retirement? See how your 401(k) savings stacks up against your peers.
President Trump has described his audit as ‘very routine,’ but legal experts say it is quite unusual.
Former Vice President Biden has a detailed proposal that involves raising taxes on people with taxable income of more than $400,000—essentially targeting the top 1%. President Trump wants to keep the tax cuts that went into effect in 2018, which largely benefited top earners.
During Thursday's debate, President Trump said he prepaid his taxes. It sparked curiosity about when it's possible to pay the IRS upfront.
It’s been more than 25 years since Bill Bengen, a financial adviser in southern California, created the so-called “4% rule.” Bengen called his rule “Safemax”—the maximum amount you could withdraw each year and still say “safe.” If you want to make sure you don’t outlive your savings, goes modern financial advice, budget on withdrawing no more than about 4% of your portfolio in your first year of retirement, and then only adjust upward in line with inflation.
Strategists at JPMorgan have put together a list of companies that are at risk of steep drops when a coronavirus vaccine arrives.
Investors added $134.3 billion to Vanguard ETFs in the first nine months of the year. But much of that money has come from its own mutual funds.
Shares of General Electric Co. surged to the highest price seen in four months before pulling back, as Wall Street has gotten a little more optimistic on the outlook ahead of the industrial conglomerate’s earnings report.
Joe Biden has pledged to not raise taxes on any American who earns less than $400,000, but a new analysis published this week found that the Democratic presidential nominee's tax increase proposals could indirectly fall on the middle class.
While the coronavirus pandemic has disrupted the global economy, Zoom Video, Netflix, Nvdia and AMD are among 24 fastest-growing companies expecting up to 603% growth in 2020
'Shark Tank' star Kevin O'Leary has learned something valuable about his employees during the COVID-19 pandemic.
With less than two weeks to go before the U.S. presidential election, investors may be placing too much confidence in a decisive win by Democratic challenger Joe Biden as his lead in opinion polls narrows. Market participants have in recent weeks pulled back from bets that would benefit from election-related volatility while piling into assets that would benefit from a Biden win, including alternative energy shares and cannabis stocks. As Biden's lead has narrowed in recent days, some market watchers worry that an unexpected victory by President Donald Trump, a Republican, or an uncertain election outcome could force the type of violent positioning unwinds that occurred in 2016, when investors were overwhelmingly positioned for a Hillary Clinton presidency.
Boeing Co (NYSE: BA) investors got some good news recently when European regulators cleared the 737 Max for takeoff. However, one analyst says Boeing still has a number of major challenges ahead in the near-term.The Boeing Analyst: Bank of America analyst Ronald Epstein reiterated his Neutral rating and $175 price target for Boeing.The Boeing Thesis: Epstein said the unprecedented downturn in the aviation industry, the 737 Max problems and Boeing's market share loss to Arbus has created a perfect storm for the company and its investors. In addition, Boeing recently terminated a $4.2 billion deal to take a stake in Brazilian aircraft producer Embraer."Given the prolonged grounding of the 737 MAX and the termination of ERJ deal, we view BA's narrowbody portfolio as strategically disadvantaged vs. Airbus over the medium-term," Epstein wrote in a note.In fact, Epstein said Airbus is on track to expand its market share from 51% today to 57% by the mid-2020s.Related Link: Boeing 737 Max Cleared For Takeoff After 19-Month Grounding, European Regulator SaysTo combat all these difficult headwinds, Epstein said Boeing needs to bite the bullet and invest in developing a new Future Single Aisle airplane. Making the decision to invest in a new model today wouldn't have an impact on Boeing's financial situation for years, but Epstein said it could help change the trajectory of Boeing's business in the long-term.For now, the next several quarters will continue to be difficult for the company. In the third quarter, Boeing received 58 net order cancellations and removed another 141 orders from its backlog. Epstein estimates Boeing now has at least 450 737 Max planes and at least 40 787s in excess inventory representing about $20 billion in working capital.Bank of America s projecting Boeing will burn $18.6 billion in free cash flow in 2020 and another $1.1 billion in 2021.Benzinga's Take: Boeing will certainly participate in any broad market recovery rally once the airline industry starts to improve. Unfortunately, the company has plenty of company-specific problems that may weigh on the stock's performance in the long-term relative to other aerospace stocks.Latest Ratings for BA DateFirmActionFromTo Oct 2020Credit SuisseMaintainsNeutral Sep 2020Alembic GlobalUpgradesNeutralOverweight Sep 2020Morgan StanleyInitiates Coverage OnUnderweight View More Analyst Ratings for BA View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * How Large Option Traders Are Playing GE's Stock After Regulators Clear 737 Max * How Large Option Traders Are Playing Boeing As Order Backlog Shrinks Further(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- Argentina’s battle to control its currency is upending South America’s second-largest economy, wreaking havoc on everything from household finances to the production and sale of common goods.Measures including taxes on greenback purchases and demands that some companies restructure their dollar-denominated debts have misfired, propelling the gap between the official and the black market exchange rates to the widest since 1989 while failing to boost international reserves. Some analysts warn a large devaluation may be on the horizon despite President Alberto Fernandez’s public opposition to the idea.Controls on the peso and increased money printing are adding to the coronavirus pandemic and amplifying existing economic problems such as a three-year recession and one of Latin America’s fastest inflation rates, all while stirring memories of past crises.“You can’t de-dollarize the mentality of a nation simply by cutting its access to dollars,” said Adriana Dupita, Latin America economist at Bloomberg Economics. “Rather, the only way to convince agents to think in peso terms is to have policies that make the currency credible. So far, we are yet to see those policies.”Here are some examples of how a dysfunctional currency is complicating the day-to-day lives of Argentines:1\. What’s a Peso Worth?Parallel exchange rates are making life impossible for local businesses, hindering their ability to plan and creating a daily headache of discerning how much the peso is worth. For Lucas Frascoli, the owner of the bicycle manufacturer Fad Bikes in the outskirts of Rosario, any change in the official rate immediately impacts steel pipe prices. On top of that, some suppliers work with prices tied to an intermediate level between the official peso and the black market rate.“My suppliers send open bills with the quantity of products but with no prices. The day they send the products, I get to know the price, and then I pay immediately,” he said. “I have new prices every single week.”2\. No One Wants PesosThe widening gap between the official and the parallel exchange rates is stoking consumer fears that a large devaluation is coming. Meanwhile, annual inflation running near 40% adds to the sensation that the local currency is losing value fast.As a result, many common Argentines rush to unload their pesos at all cost. “Nobody wants pesos, so clients don’t care anymore about the prices. They just buy,” said Pablo Gaytan, co-owner of Corralon Ciudadela, a local business in the province of Buenos Aires that sells construction materials. A shortage of supplies amid a strict coronavirus lockdown has also added to the uncertainty, he said.3\. Import ShortagesThe government has clamped down on imports to prevent dollars from flowing out of the country, leading to shortages of key goods from abroad. In the case of Edgardo Guerrini, who owns Guerrini Neumaticos SA, the administration has not granted him authorization to purchase vehicle tires from Asia for the last two months. As a result, he has no inventory to distribute from the province of Mendoza to a network of more than 600 shops nationwide.The domestic food market is another sector hit hard by the restrictions, according to Pablo Ricatti, who runs a company that makes rolls for burgers and hot dogs. “There is a shortage of products that have some imported components, such as mustard,” Ricatti said.4\. Real Estate WoesWhile it’s been standard practice to sell Argentine properties in U.S. dollars, some owners have started to price rents in greenbacks, too. Still, the lack of trust in the direction of the peso makes it difficult to determine future housing costs, especially as capital controls force Argentines to use the black market to buy the dollars or agree to pay in pesos based on the informal currency rate.“Permanent and temporary rentals are being dollarized in some locations and for some consumers in top segments,” said Jose Rozados, director of real estate consultancy Reporte Inmobiliario. “It’s very hard for the household owner to forecast prices with this volatility.”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.
Digital payment and fintech companies Paypal Holdings Inc (NASDAQ: PYPL) and Square Inc (NYSE: SQ) are having a solid 2020, but Chantico Global CEO Gina Sanchez is sounding an alarm. Decline In Spending: PayPal and Square's stock surge in 2020 has resulted in the two stocks becoming "extremely overvalued," Sanchez said on CNBC's "Trading Nation."Square's stock is trading at 167 times forward earnings, while PayPal's stock is trading at 46 times.The stocks have expanded from momentum and multiple expansion, but this may overlook the broader decline in spending that is "hitting all of these companies square in the gut," she said. Some make the argument that fintech and digital-focused companies like PayPal and Square deserve a premium valuation compared to traditional credit cards, Sanchez said.But there is a major flaw in this thesis, she said: both groups are driven by consumption."You need transactions in order to support all of these plays, and so I would argue that psychologically you can tell yourself that [justification] but I don't know that it's going to play out over a period in your portfolio."Counter Argument: Joule Financial President Quint Tatro offered the other side of the argument and said PayPal and Square's stocks aren't as overvalued as they may seem to be.PayPal, for example, continues to show very rapid growth, along with strong free cash flow generation of $3.9 billion in 2019 that is modeled to grow to $5.95 billion in 2020, Tatro said. "And when you do something, again, as traditional as a discounted cash flow from an intrinsic value standpoint, the company's not that overvalued," he said.Photo courtesy of Square. See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * BofA Steps To Sidelines On Sonoco, Looks For Results In 2022 * Bob Iger Joins Board Of Animal-Free Dairy Maker Company(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Southwest Airlines will shop for a new plane, potentially ending the exclusive hold the 737 has on its fleet.
Advanced Micro Devices Inc. is expected to repeat its story of gaining at the expense of larger rival Intel Corp.'s woes when it reports earnings Tuesday.
QQQ stock is one of the world's most-popular ETFs — as it instantly gives you a piece of companies building the future. Does it belong in your portfolio?
Just two weeks ago, the markets were factoring in an all-but-certain Biden victory in the upcoming presidential election as well as a “Blue Wave” of democrats taking control of the Senate and Congress as well as the presidency. This would mean a path of least resistance for a new stimulus bill. But, now not all is as it seems; market participants are taking a more thorough, deeper second look at the polling numbers. JPMorgan strategist Nikolaos Panigirtzoglou believes that election odds are narrowing making a contested result that could hamper stimulus and hurt stocks more likely. A mixed bag of election results would mean a difficult time passing a stimulus package and betting markets are beginning to price in a more narrow election result. A tighter, more contentious election result could hurt the bank’s expectations for their market outlook. Despite all of that potential malaise, JPMorgan stock analysts are holding steady on their calls for these three dividend stocks, yielding some 4% or more, and potentially more if price targets are met. We ran them through TipRanks database to see what other Wall Street’s analysts have to say about them.Hemlerich & Payne (HP)We’ll start with a company that engages in oil well drilling and gas exploration. Hemlerich & Payne's fortunes have been adversely affected from COVID-induced selling and low demand for oil products. The company has been idling rigs over the past quarter in response to the demand for their products. As a result, HP's dividend has dropped from 71 cents per quarter to an expected 25 cents per quarter for Q3 and Q4, respectively, giving FY 2020 a total dividend of $1.91 per share. The dividend is expected to remain at 25 cents per quarter providing $1.00 per share throughout 2021. On the current reference price of $14.90 this gives a yield of 6.71%.Covering the stock for JPM, analyst Sean Meakim remains cautiously positive. The analyst rates HP an Overweight (i.e. Buy) along with an $18.00 price target. This figure implies a 22% upside from current levels. (To watch Meakim’s track record, click here)"Our modeling still suggests that generating positive FCF in FY2020 is far from guaranteed (JPMe -$30mm v. -$35mm prior), but we think HP has the balance sheet strength to remain patient and execute on its strategic priorities, particularly surrounding technology adoption and value capture from performance-based contracts," Meakim opined.What does the rest of the Street think? Looking at the consensus breakdown, opinions from other analysts are more spread out. 3 Buys, 3 Holds and 2 Sells add up to a Moderate Buy consensus. Shares are priced at $14.80, and the $17.92 average price target is in-line with JPM's. (See HP stock analysis on TipRanks)Kraft-Heinz (KHC)Kraft-Heinz, and its subsidiaries manufacture and market food and beverage products in the United States and throughout the world. With revenue of some $25B annually, the company has a market capitalization of $40B. The current dividend on the company has a quarterly payout of 40 cents with an annual payout of $1.60. Given the stock price of $31.44, with the annual dividend at $1.60, this gives a yield of 5.0%. It should be noted that currently, KHC has a 9.9% FCF yield and therefore with the current revenue rate will be able to maintain their current dividend payout. Writing for JPM, analyst Ken Goldman points out five key factors in determining his bullish stance on KHC. The analyst believes that: First, EBITDA is reasonable and can be achieved; Second, the focused strategy to grow internationally is an important aspect of the KHC’s strategy; Third, that KHC’s high dividend should perform well; Fourth, that the 9.9% FCF yield remains attractive vs. 6.5% large-cap median; and fifth that the company should buy back shares. Backing his optimistic stance on KHC, Goldman gives the stock an Overweight (i.e. Buy) rating, and his $39.00 price target implies a 25% upside from current levels. (To watch Goldman’s track record, click here)Wall Street is moderately bullish on the stock. Of the 13 reviews, 6 are for a Buy, 6 are for a Hold and one is for a Sell. The stock’s current price of $31.14 is a 16% increase for the average price target. (See KHC stock analysis on TipRanks)To find good ideas for dividend 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.
Virgin Galactic stock was initiated with a neutral rating at Goldman Sachs, the first sign Wall Street isn't all systems go for the space company.