NEW YORK (Reuters) -U.S. stocks suffered the biggest slump in at least 11 weeks on Wednesday and benchmark Treasury yields jumped after data showed consumer prices in April unexpectedly rose by the highest level in nearly 12 years, prompting bets on earlier interest rate hikes. A 0.8% jump in the U.S. consumer price index - outpacing a 0.2% forecast - boosted the U.S. dollar as expectations of rising real interest rates burnished the currency's appeal. The gyrations in financial markets underscored concerns among some investors that the Federal Reserve could be wrong in its prediction that inflation pressures in the United States are temporary, and that the central bank may have to raise rates sooner than it expects.
Yields on longer-dated Treasuries were up for a third straight day, with the yield on 10-year Treasury note up 2.1 basis points at 1.624%. Investors awaited Wednesday's April consumer price index data to see if the U.S. Federal Reserve will begin to alter its stance on inflation. The Fed has repeatedly maintained that any inflation would be transitory in nature.
(Bloomberg) -- The head of sustainable finance at Goldman Sachs Group Inc. says companies are starting to provide more data on their climate and social metrics than is useful for investors.John Goldstein, who’s been running the Wall Street firm’s sustainable finance group since it was created in 2019, says the risk is that asset managers lose track of what’s important, and businesses buckle under the paperwork as they try to demonstrate their commitment to environmental, social and governance goals.“My mantra tends to be: if we could have better data on fewer things that matter more,” Goldstein said in an interview.“Companies feel like they’re asked for too many different things by too many different people, and that the list is changing,” he said. And “investors feel, to some degree, that they get a lot of noise and not a lot of signal.”Companies are racing to adapt their businesses as politicians, regulators and investors acknowledge that capitalism needs to change to prevent a catastrophic overheating of the planet. But the sheer volume of new regulations presents a challenge for both firms and investors as they try to figure out what’s expected. Goldstein says that to gain access to financing, some companies are having to provide more data than genuinely aids transparency.Sea Rise From Melted Land Ice May Double If Paris Pact FailsFitch Ratings says the European Union’s taxonomy requirements will help investors and regulators determine how sustainable a project or asset is, but “impose complex disclosure requirements on corporates.”Goldstein says the concern is that some of the demands being made on corporations might be counterproductive. “All of these emerging metrics, tools and data sets, when you get into the algebra of them, there still is that challenge of: do they inadvertently say you’re going to look a lot better if you just avoid the hard-to-do stuff?”He recalls a meeting with a chief financial officer who told him that she “had been asked for 2,000 different ESG data points in the last year.”But asset managers can’t afford to ignore ESG considerations, whether they’re pitching an investment product as sustainable or not, Goldstein said.“Increasingly, there needs to be an ESG story,” regardless what kind of product is being sold, he said. At the same time, excluding a company from portfolios “doesn’t mean it miraculously ceases to exist.”Government and international standard-setting authorities have acknowledged that greater coordination is needed, not least to ensure comparability across companies and asset managers, and to prevent greenwashing. The European Union last month unveiled new standards for classifying sustainable investments and expanded the climate reporting requirements that officials hope will be used globally.EU Eyes ‘Re-Engineering’ of Global Finance With Green StandardsMeanwhile, the market for sustainable investments is booming. Global issuance of ESG bonds will probably exceed $650 billion this year, after offerings tripled in the first quarter alone, Moody’s Investors Service said.Part of this year’s surge is due to the change in attitudes in the U.S. since the election of President Joe Biden, according to Goldstein.“If we look back at 2020, which was a pretty remarkable year for sustainable investing in ESG, all of that really happened with U.S. federal policy as a fairly pronounced headwind,” he said. Now, the U.S. “is a tailwind.”(Updates to add 2021 ESG bond market forecast)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
In breaking news, inflation accelerated at its fastest pace in more than 12 years for April as the U.S. economic recovery kicked into gear.
(Bloomberg) -- Chinese debt is back in favor with overseas investors.After the nation’s government bonds suffered their first outflow in two years in March, foreigners added 52 billion yuan ($8.1 billion) to their holdings in April, bringing the total to a record 2.1 trillion yuan, data compiled by ChinaBond show.In a game-changing shift -- compared by some to the birth of the euro -- yuan-denominated debt has emerged as a refuge during this year’s global bond rout. Investors looking for diversification have piled in, seeking its relatively high yields and low correlation to other markets. While that partially reversed in March, as rising U.S. yields dimmed Chinese bonds’ appeal, the quick turnaround has underscored the resilience of demand and China’s growing clout since opening its fixed-income market.“The underlying case for Chinese bonds is still very, very strong,” said Pramol Dhawan, head of emerging markets portfolio management at Pacific Investment Management Company LLC. “Because of its low correlation to global rates, its high nominal yields and high real yields form a very important part of portfolio construction.”Foreign investment in China’s interbank fixed-income market, as compiled by ChinaBond, rose 65 billion yuan in April to an all-time high of 3.2 trillion yuan, the data showed. Those holdings more than doubled over the past two years as Chinese bonds were included in global benchmarks compiled by Bloomberg Barclays and JPMorgan Chase & Co. Still, foreign investors only account for 4.3% of the total debt in China’s interbank market.“We are increasing our exposure to the Chinese bonds,” said Kheng Siang Ng, Asia Pacific head of fixed income at State Street Global Advisors. “It’s hard for the markets to ignore.”Read More: China’s Bonds Only One to Gain Among Biggest Markets in RoutEven as foreign investors returned, the April numbers suggest the momentum of inflows has slowed from the breathtaking pace earlier this year. Last month’s inflow was less than half the amount seen in January.The yield premium of China’s benchmark 10-year bond over Treasuries narrowed by around 1 percentage point to about 154 basis points from a record in November. On top of that, FTSE Russell said in March that it will take three years to add Chinese debt into its global index, instead of the 12 months initially envisioned. That disappointed some investors who expected a faster inclusion.Defensive BuyersNick Maroutsos, head of global bonds at Janus Henderson Investors, is among those who aren’t yet ready to buy Chinese bonds.“We get asked this a lot, and my answer to whether we own or will own Chinese bonds is, ‘Not right now,’” said Maroutsos, whose firm managed more than $414 billion as of March.“Ultimately, we are defensive buyers, and I have a hard time looking at emerging markets as a safe haven for investors,” he said. “Chinese government bonds aren’t going to protect you and won’t behave in a manner similar to Treasuries.”China’s bonds have been dancing to their own tune, in part because they are less owned by foreign investors, and China’s independent economic and policy cycles set them apart from the rest of the world.Over the past 10 years, their correlation with the U.S. Treasuries was less than 0.2, according to a Bloomberg analysis. Yields on 10-year Chinese bonds were little changed this year, while equivalent Treasury yields surged 69 basis points.Read More: Carry Trades in China, Korea Are Best in Low-Yield Covid EraWhile the yield spread has narrowed, at 3.1%, China’s 10-year yield is almost double that of Treasuries. Even if U.S. yields rise further, Chinese bonds remain appealing because of their low correlation to global markets, which helps investors lower volatility in their portfolio, said Lucy Qiu, a strategist at UBS Global Wealth Management.“Investors still need to look for uncorrelated sources of returns, as negative bond-equity correlations may be challenged during a rapid rise in yield,” Qiu said.(Updates with performance data in third-from-last paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- The states suffering from the most acute gasoline shortages should start to feel relief this weekend after the nation’s largest fuel pipeline resumed operations.Fuel will begin flowing immediately but will require an armada of tanker trucks to ferry product from endpoint gasoline terminals to retail stations emptied by panicked drivers during the Colonial pipeline’s shutdown. Earlier this week, the Biden administration waived some trucker restrictions to help with the replenishment.Panicked drivers lined up for gasoline at stations across the Southeast after a ransomware attack forced the Colonial Pipeline system to shut its operations late last week. Georgia, Virginia and the Carolinas were among the most affected by empty pumps. The rush to fill up sent the national average gasoline price above $3 a gallon for the first time in six years.The most immediate effect of the pipeline’s restart may be psychological, calming fears of dwindling supplies and persuading motorists to hold off from topping up tanks, said Angela Holland, president of the Georgia Association of Convenience Stores.“Folks that get up in the morning, and they’ve got three-fourths of a tank of gas, are not going to feel like they need to top off tomorrow,” she said. Some of the association’s members reported selling three to four times their usual daily amount during the pipeline system’s shutdown.North Carolina, the first state to declare a state of emergency in the wake of Colonial’s shutdown, should register a significant change by this weekend, said Gary Harris, executive director of North Carolina Petroleum & Convenience Marketers.Major branded stations will get fuel first since they are under contract with suppliers, said Harris. “People will have to be running trucks a lot to just catch up because so much is out at this time,” he said.Waivers for weight load and driving-hours restrictions for truck drivers will help speed gasoline deliveries to retail stations. “The weekend should give people a chance to get caught up with their distributors and dealers,” said Michael O’Connor, president of the Virginia Petroleum & Convenience Marketers Association. Consumers will see a difference by Monday, he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Investing is all about profits, and part of generating profits is knowing when to start the game. The old adage says to buy low and sell high, and while it’s tempting just to discount cliches like that, they’ve passed into common currency because they embody a fundamental truth. Buying low is always a good start in building a portfolio. The trick, however, is recognizing the right stocks to buy low. Prices fall for a reason, and sometimes that reason is fundamental unsoundness. Fortunately, Wall Streets analysts are busy separating the wheat from the chaff among the market’s low-priced stocks, and some top stock experts have tagged several equities for big gains. We’ve used the TipRanks database to pull up the data and reviews on three stocks that are priced low now, but may be primed for gains. They’ve been getting positive reviews, and despite their share depreciation, they hold Buy ratings and show upwards of 80% upside potential. Vapotherm, Inc. (VAPO) First up, Vapotherm, is a medical device manufacturer, specializing in heated, humidified, high-flow nasal cannulas. These are therapeutic breath aids, designed to deliver oxygenated air directly to the patient’s nose. Heating and humidifying the air reduces the discomfort of delivering dry oxygen. As can be expected, during a pandemic of a respiratory illness, Vapotherm saw high sales in recent months – but the share price has pulled back since early February. Paradoxically, the two events are related. First, on the positive side, Vapotherm’s 1Q21 financial results were solid. The company’s revenue, at $32.3 million, was up 69% year-over-year, and worldwide, installations of the Precision Flow base unit was up 73% over the same period. The company’s net loss in the quarter, $5.2 million, was an improvement from the $10.2 million loss in the year-ago quarter. On the negative side, VAPO shares are down from their early-February peak. The drop is substantial; the stock has fallen 50% from its peak, and is down 34% year-to-date. The fall in share value reflects concerns that the company’s flagship product is oversold, that customers, fearful of COVID-related respiratory emergencies, bought more units that would be needed in ordinary times. This is the case made by Piper Sandler analyst Jason Bednar. “Shares have meaningfully underperformed since early February as many investors have questioned utilization dynamics for the bolus of Precision Flow systems that were sold into hospitals last year… We understand the logic here, particularly for those investors with a shorter time horizon, but with much of that concern seemingly already reflected in the stock at current levels we do believe the upside opportunity meaningfully outweighs the risk of further downside,” Bednar noted. The analyst added, "It’s also our view that investors who wait for utilization trends to bottom out will ultimately miss an initial move higher that could come as HVT 2.0 begins to contribute with a rollout later this year and as market expanding opportunities for HVT 2.0 in 2022 begin to take on a more defined shape (particularly EMS and home-based care)." To this end, Bednar rates VAPO an Overweight (i.e. Buy), and his $32 price target implies a robust upside of 81% in the year ahead. (To watch Bednar’s track record, click here) Overall, the unanimous Strong Buy consensus rating on this stock, supported by 4 recent analyst reviews, makes it clear that Bednar is not alone in his bullish view. The average price target here, $39, is even more optimistic, suggesting an upside of ~122% from the current trading price of $17.65. (See VAPO stock analysis on TipRanks) Emergent Biosolutions (EBS) The next stock we’re looking at, Emergent, is a biopharmaceutical company. The company has multiple products on the market, including a NARCAN nasal spray for use on opioid overdose patients, and vaccines against smallpox, anthrax, and other diseases. Emergent’s development pipeline includes a pediatric cholera vaccine, Vaxchora, currently in a Phase III trial. Several programs, including an anthrax vaccine candidate, a Chikungunya vaccine, and a seasonal flu shot, have all completed Phase II and are in preparation for Phase III. One of Emergent’s most important programs is in its Contract Development and Manufacturing service, a service extended to other pharmaceutical companies to manufacture vaccines which they have developed. Under a CDMO plan, Emergent is part of Johnson & Johnson’s manufacturing chain for a COVID-19 vaccine. That last is a key point. The J&J vaccine has been linked – at least in some reports – to serious adverse events, particularly blood clots in otherwise healthy recipients. That has caused a hold in manufacturing of the vaccine, and consequently a delay in receiving payments from J&J. Which, in turn, impacted the company’s 1Q21 financials, resulting in lower revenues and earnings than expected. Investors are concerned, and the stock has fallen 33% year-to-date. Despite the setback, Benchmark analyst Robert Wasserman keeps a Buy rating on EBS shares, along with a $120 price target. If correct, the analyst’s objective could deliver one-year returns of 101%. (To watch Wasserman’s track record, click here) "EBS remains solidly profitable, and even with the lowered expectations for J&N and AZ vaccine contracts, is expected to show solid revenue growth for this year. These shares remain a bargain in our CDMO/bioprocessing group and could offer significant upside for value-oriented investors if circumstances turn around or new business can be garnered in the near-term," Wasserman opined. Overall, the Street currently has a cautiously optimistic outlook for the stock. The analyst consensus rates EBS a Moderate Buy based on 3 Buys and 2 Holds. Shares are priced at $59.59, and the average price target of $89.67 suggests an upside potential of ~50% for the next 12 months. (See EBS stock analysis at TipRanks) Haemonetics Corporation (HAE) For the last stock on our list, we’ll stick with the medical industry. Haemonetics produces a range of products for blood and plasma collection and separation, as well as software to run the machines and service agreements for maintenance. In short, Haemonetics is a one-stop shop for blood donation centers and hospital blood banks. Blood products is a $10.5 billion market in the US alone, with plasma accounting for 80% of that, and Haemonetics has made itself an integral part of that business. Haemonetics had been recovering steadily from a revenue dip at the height of the corona crisis, and its 3Q fiscal 2021 earnings showed a solid results: top line revenue of $240 million and EPS of 62 cents. While the revenue was down 7.3% yoy, EPS was up 6.8%. Even with that, however, the stock dropped sharply between April 15 and April 20, losing 42% of its value in that short time. The reason was simple. One of Haemonetics’ largest customers, CSL Pharma, announced that it does not plan to renew its contract with HAE. That contract, for supply, use, and maintenance of Haemonetics’ PCS2 plasma collection system, was worth $117 million and made up approximately 12% of the company’s top line. The cancellation comes with a one-time charge of $32 million in other related losses. Fortunately for HAE, the CSL contract does not expire until June of 2022, giving the company time to plan and prepare. Covering the stock for JMP Securities, analyst David Turkaly noted: “The advance notice gives HAE some time (~15 months) to prepare for the expiration, and we note that management has consistently strengthened its financial position using levers such as complexity reduction and product optimization to derive significant cost savings, and more of these will likely be employed ahead to help offset the customer loss.” The analyst continued, "While this disappointing decision could impact HAE's plasma positioning with other fractionators, we continue to believe that giving customers the ability to collect more plasma in less time is a very compelling value proposition - and HAE still has contracts and maintains significant market share with many of the most relevant plasma players." Accordingly, Turkaly rates HAE an Outperform (i.e. Buy), and sets a $110 price target. This figure implies an upside of 86% from current levels. (To watch Turkaly’s track record, click here) All in all, HAE has a Moderate Buy consensus rating, based on 7 reviews that break down 5 to 2 in favor the Buys over the Holds. The stock is trading for $59.02 and carries an average price target of $108.67, which suggests ~84% one-year upside. (See HAE 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.
The Japanese tech investor smashed profit records in its home country, capping a wild year in which it rode roller-coaster stock markets from the lows at the beginning of the pandemic to recent highs.
(Bloomberg) -- The largest gasoline pipeline in the U.S. is returning to service, recovering from a cyberattack late Friday that sent pump prices surging and triggered shortages across the Eastern U.S.Colonial Pipeline Co. -- a critical source of gasoline and diesel for the New York area and the rest of the East Coast -- began to resume fuel shipments around 5 p.m. Eastern time Wednesday, the Alpharetta, Georgia-based operating company said in a statement.It’s unclear how long it will take for supplies to come back to normal, though. U.S. Energy Secretary Jennifer Granholm said Tuesday it would take days to fully restore supplies after the restart, while Colonial indicated it will get its physical operations up and running ahead of its business systems.“Resumption of flows is the start, but the race to logistically replenish retail gas stations is the next step,” said Michael Tran, an analyst at RBC Capital Markets. “The restarting of the Colonial pipeline is the beginning of the end of the crisis, not the end.”The news came as gasoline stations were running dry from Florida to Virginia after Colonial was forced to take systems offline on May 7. In parts of the U.S. South, three in every four gas stations had no fuel as of Wednesday, while in Washington, D.C., cars were lining up for blocks as they waited to fill up.Optimism that the situation will start returning to normal sent benchmark gasoline futures down as much as 1.3% in Asia trading hours, after pump prices soared above $3 a gallon for the first time in six years.Despite the improved outlook, the disruption underscores just how vulnerable America’s fuel supply system has become in the wake of increased attacks on energy infrastructure by hackers over the past few years. Colonial is only the latest example of critical infrastructure being targeted by ransomware. Hackers are increasingly attempting to infiltrate essential services such as electric grids and hospitals.The attack on Colonial also came just as the nation’s energy industry is preparing for summer travel and as fuel demand rebounds from pandemic-related lockdowns. It was reminiscent of a 2018 cyberattack that brought down a third-party communications system used by several natural gas pipelines operators across the U.S.Colonial, which each day normally ships about 2.5 million barrels (105 million gallons) -- an amount that exceeds the entire oil consumption of Germany -- warned the line may go down again from time to time while it’s in the process of restarting.In a separate bulletin to its shippers, it said the company was physically starting operations even before its business systems — which process nominations for space on the pipeline and schedule them — are back up and running. As a result, it’ll be using schedules that were set five days ago until its systems are back in service, the notice shows.Feeling ReliefAs the pipeline resumes operations, the states suffering from the most acute shortages may start to feel relief this weekend.In North Carolina, some fuel supply should appear right away, said Gary Harris, executive director of the North Carolina Petroleum & Convenience Marketers, a trade association. “People will have to be running trucks a lot to just catch up because so much is out at this time,” he said.Major branded stations will get fuel first as they are under contract with suppliers, said Harris. Fuel may still be scarce for independent stations that are not under contract.Royal Dutch Shell Plc said it was pursuing alternative supply points, where possible, and working in close coordination with wholesalers to address supply and logistical challenges.In Virginia, consumers should be able to see a difference by Monday, said Michael O’Connor, president of the Virginia Petroleum & Convenience Marketers Association.Shortly before the Colonial announcement, President Joe Biden said he was expecting good news on the situation and touted the steps he had taken to relieve supply disruptions.“I’ve lifted some of the restrictions on the transportation of fuel as well as access to the United States military providing fuel, and with vehicles to get it there, places where it’s badly needed,” Biden told reporters at the White House.The White House this week announced several measures to blunt the growing crisis, including waiving some gasoline requirements and empowering 10 states to allow heavier-than-normal truck loads of fuels.This isn’t the first time Colonial has been forced to shut down. In 2016, an explosion kept the system offline for days, raising gasoline prices and forcing the New York Harbor market to become more dependent on imports of fuel from overseas.The Federal Bureau of Investigation attributed the attack on Colonial to ransomware created by a group called DarkSide. Some evidence emerged linking DarkSide to Russia or elsewhere in Eastern Europe. Biden said Russia has “some responsibility” to address the attack but stopped short of blaming the Kremlin, saying “there’s evidence” the hackers or the software they used are “in Russia.”(Updates with futures trading in the sixth paragraph and bulletin from Colonial in 10th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Few things evoke fear in equity markets like a margin call. On Wednesday that fear turned into panic in Taiwan, offering another warning for the world on what can happen when leverage unwinds.The trading day started out quiet in Taipei’s $2 trillion stock bourse. But before the morning was over, the local benchmark index had plummeted almost 9% in the worst one-day performance in its 54-year history.There were reasons to sell. New data showed a worsening Covid-19 outbreak in an island where almost no one is vaccinated. A deepening slump in global tech shares also undermined the appeal of a market dominated by the industry. But the swiftness of the plunge that followed suggests bigger forces were at play.For months, bull market skeptics around the world have warned that surging leverage is making equity markets riskier -- and the blowup of Archegos Capital Management in March served as a reminder of that. Yet stocks have continued to rise, with the MSCI All-Country World Index closing at a record as recently as Friday. In the U.S., margin debt topped $822 billion by the end of March -- the latest available data. That’s up 72% year on year.On a smaller scale, the same happened in Taiwan. Armed with conviction, and with history on their side, investors took on increasing amounts of leverage. The result was a 46% expansion in margin debt this year to about NT$274 billion ($9.8 billion) two weeks ago, the highest since 2011. By comparison, the Taiwan benchmark was up just 19% in that period, an indication that people were taking out loans faster than stocks were appreciating.Local investors had little reason to fear losses. Taiwan’s economy became one of the biggest winners from U.S.-China rivalry. Its chipmakers flourished as Washington sought to hobble Beijing’s efforts to build a domestic chip industry. During President Donald Trump’s four-year term, the Taiex benchmark became the world’s best performing stock gauge, gaining more than 90% in U.S. dollar terms.Gains extended this year as the pandemic created a shortage of chips, with the index rising for seven straight months through April.The euphoria began to unravel this week as the threat of inflation sank the Nasdaq, with tech stocks around the world following suit. As the Taiex slid 3.8% on Tuesday in Taiwan, the level of margin debt fell by NT$12.6 billion, the most since October 2018. That suggests traders faced margin calls by brokers to cover losses in their stock accounts.Wednesday’s record rout is likely to have spurred a bigger unwinding of leverage. (Comparatives are skewed by the widening of daily price limits for individual stocks in 2015.)“Margin trading boosted the Taiex over the past few months, which may add to declines if they face margin calls,” said MasterLink Securities Investment Advisory President Paul Cheng.The fear of further losses was evident in a stock market where individual investors account for about 60% of transactions. The derivatives market burst with activity: more than 1.75 million options tracking the Taiex changed hands on Wednesday, the third-busiest day since 2016. Traders snapped up bearish contracts even as dozens of short-term options expired, with the price of one put surging as much as 7,757%.KGI Securities’ trader Kevin Lee, who has been a local stocks trader for a decade, said clients started to panic as the morning wore on.“There were non-stop orders coming in,” Lee said. “Investors were crazy as there were lots of news during trading hours and we didn’t know if they were true or not.”By the end of the day, the index had pared its losses to 4.1%. But the damage to investor confidence was already done.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Economists are puzzled by the hiring problems that John Deere, long one of Iowa's premier employers, is having at a time when thousands are unemployed
With a cyberattack temporarily hobbling the critical Colonial Pipeline, the prospect of gas shortages in the Southeast is making some nervous.
Since at least late 2020 users from the U.S. and around the globe have had their accounts frozen for unconventional reasons.
Wendy's light its up in the first quarter. Here's why.
Some of your favorite consumer brands want more of your money because of surging inflation.
Need more relief? The White House says that's up to Speaker Pelosi and company.
Crypto platform Coinbase Global is set to issue highly anticipated quarterly results Thursday after the close of regular trading. Here's what analyst are expecting.
Worker shortages are forcing firms to give more hours to current employees, increasing their pay. But they can't meet demand, shrinking the economy
There is a lot of interest in Palantir Technologies lately. The company has gotten attention as news spread that fund manager Cathie Wood said her exchange-traded funds bought several million shares of the data-analytics company's stock. Following the results, Real Money's Stephen "Sarge" Guilfoyle discussed how he is trading the stock here.
Costco could see a huge month of sales for May as customers stock up on gas amid the Colonial pipeline shutdown.