ROME (AP) — European Union countries officially kick off coordinated effort to vaccinate millions against COVID-19.
ROME (AP) — European Union countries officially kick off coordinated effort to vaccinate millions against COVID-19.
PepsiCo, the planetary purveyor of sugary drinks, greasy chips, and (weirdly) oatmeal, hummus, and gazpacho(?) is partnering with Beyond Meat, the publicly traded plant-based protein provider, on a poorly named joint venture to hawk new plant-based food and beverages to consumers. The PLANeT Partnership (which was clearly branded by the same genius behind the comic sans font), will combine Beyond Meat's skills with protein prestidigitation and PepsiCo's marketing and manufacturing savvy to flood the global market with new snacks and drinks, the two companies said. Neither company disclosed any financial terms and other pesky details around who, what, where, and when, except to say that the the joint venture operations will be managed through the newly created PLANeT Partnership.
Goldman Sachs sounds the alarm on some very hot tech stocks.
Large swaths of the internet were down on Tuesday afternoon, as outages hit everything from Google's Gmail to Slack.
Short-seller Andrew Left does not usually smoke. Left, who has built a reputation by targeting companies he thinks are overvalued, is as convinced as ever that videogame retailer GameStop is a dying business whose stock price will fall sharply someday. GameStop did not immediately respond to a Reuters request for comment.
Johnson & Johnson on Tuesday said it expected to report eagerly-awaited data on its COVID-19 vaccine early next week, and that it would be able to meet the delivery target for doses to countries with which it had signed supply agreements. Public health officials are increasingly counting on single-dose options like the one being tested by J&J to simplify and boost inoculations given the complications and slower-than-hoped rollout of authorized vaccines from Pfizer Inc and Moderna Inc, which require second shots weeks after the first. The company forecast 2021 profit well above Wall Street estimates, and its shares rose 3.4% to $171.55.
For investors seeking a strong dividend player, there are some market segments that are known for their high-yield dividends, making them logical places to start looking for reliable payers. The hydrocarbon sector, oil and gas production and mainstreaming, is one of these. The sector deals in a products that’s essential – our world runs on oil and its by-products. And while overhead for energy companies is high, they still have a market for their deliverables, leading to a ready cash flow – which can be used, among other things, to pay the dividends. All of this has investment firm Raymond James looking to the roster oil and gas midstream companies for dividend stocks with growth potential. "We anticipate the [midstream] group will add around ~1 turn to its average EV/EBITDA multiple this year. This equates to a ~20-25% move in equity value," Raymond James analyst Justin Jenkins noted. Jenkins outlined a series of points leading to a midstream recovery in 2021, which include the shift from ‘lockdown’ to ‘reopen’ policies; a general boost on the way for commodities, as the economy picks up; a political point, that some of DC’s more traditional centrists are unlikely to vote in favor of anti-oil, Green New Deal policies; and finally, with stock values relatively low, the dividend yields are high. A look into the TipRanks database reveals two midstream companies that have come to Raymond James’ attention – for all of the points noted above. These are stocks with a specific set of clear attributes: a dividend yield of 7% or higher and Buy ratings. MPLX LP (MPLX) MPLX, which spun off of Marathon Petroleum eight years ago as a separate midstream entity, acquires, owns, and operates a series of midstream assets, including pipelines, terminals, refineries, and river shipping. MPLX’s main areas of operations are in the northern Rocky Mountains, and in the Midwest and stretching south to the Gulf of Mexico coast. Revenue reports through the ‘corona year’ of 2020 show the value potential of oil and gas midstreaming. The company reported $2.18 billion at the top line in Q1, $1.99 billion in Q2, and $2.16 billion in Q3; earnings turned negative in Q1, but were positive in both subsequent quarters. The Q3 report also showed $1.2 billion in net cash generated, more than enough to cover the company’s dividend distribution. MPLX pays out 68.75 cents per common share quarterly, or $2.75 annualized, which gives the dividend a high yield of 11.9%. The company has a diversified set of midstream operations, and strong cash generation, factors leading Raymond James' Justin Jenkins to upgrade his stance on MPLX from Neutral to Outperform (i.e. Buy). His price target, at $28, implies a 22% one-year upside for the shares. (To watch Jenkins’ track record, click here) Backing his stance, Jenkins writes, “Given the number of 'boxes' that the story for MPLX can check, it's no surprise that it's been a debate stock. With exposure to inflecting G&P trends, an expected refining/refined product volume recovery, the story hits many operational boxes - while also straddling several financial debates… We also think solid 2020 financial results should give longer-term confidence…” Turning now to the rest of the Street, it appears that other analysts are generally on the same page. With 6 Buys and 2 Holds assigned in the last three months, the consensus rating comes in as a Strong Buy. In addition, the $26.71 average price target puts the upside at ~17%. (See MPLX stock analysis on TipRanks) DCP Midstream Partners (DCP) Based in Denver, Colorado, the next stock is one of the country’s largest natural gas midstream operators. DCP controls a network of gas pipelines, hubs, storage facilities, and plants stretching between the Rocky Mountain, Midcontinent, and Permian Basin production areas and the Gulf Coast of Texas and Louisiana. The company also operates in the Antrim gas region of Michigan. In the most recent reported quarter – 3Q20 – DCP gathered and processed 4.5 billion cubic feet of gas per day, along with 375 thousand barrels of natural gas liquids. The company also reported $268 million in net cash generated, of which $130 million was free cash flow. The company reduced its debt load by $156 million in the quarter, and showed a 17% reduction in operating costs year-over-year. All of this allowed DCP to maintain its dividend at 39 cents per share. Early in the corona crisis, the company had to cut back that payment – but only once. The recently declared 4Q20 dividend is the fourth in a row at 39 cents per common share. The annualized rate of $1.56 gives a respectable yield of 7.8%. This is another stock that gets an upgrade from Raymond James. Analyst James Weston bumps this stock up from Neutral to Outperform (i.e. Buy), while setting a $24 target price to imply 20% growth on the one-year time horizon. “[We] expect DCP to post yet another solid quarter on sequential improvements in NGL prices, NGL market volatility, and positive upstream trends… we are not capitalizing current propane prices and anticipate a solid, but more normalized pricing regime over the next 12-18 months. In our view, this will create a beneficial operating environment for DCP cash flows that is not currently reflected in Street estimates,” Weston noted. All in all, the Moderate Buy analyst consensus rating on DCP is based on 7 recent reviews, breaking down 4 to 3 Buy versus Hold. Shares are priced at $19.58 and the average target of $23 suggests an upside of ~15% from that level. (See DCP 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.
In the old days, starting in 1994 with Bill Bengen’s seminal study, financial advisers estimated how long your portfolio might last using historical returns and a safe withdrawal rate. For those unfamiliar, Bengen’s research left us with the 4% rule, which is considered (rightly or wrongly) the holy grail of retirement planning in some circles. Then, starting in 2005, investment firms and advisers were given the green light to use something called Monte Carlo to predict your portfolio’s probability of success — success being the probability that your nest egg would adequately fund your desired standard of living throughout your retirement.
The Dow Jones rallied early as it emerged that President Joe Biden could be open to slicing his coronavirus stimulus package. Microsoft stock and GE stock flashed buy signals.
One of the biggest questions on Wall Street right now: is the stock market a bubble on the verge of exploding?
Top news and what to watch in the markets on Tuesday, January 26, 2021.
Speaker Pelosi and other leaders want quick approval. How soon could you get more money?
Your retirement savings are $1 million. You want $100,000 of yearly retirement income, including Social Security. Is that doable without tons of risk?
(Bloomberg) -- “You guys still awake?”It was 12:43 a.m. on Jan. 19, and TRGainz, a frequent user of the social media platform Stocktwits, was getting antsy. So too was Alwaysliquid. “Can’t sleep,” he shot back seconds later.In some nine hours, financial markets would open in New York, and when they did, an obscure penny stock by the name of Blue Sphere Corp. would suddenly, and seemingly miraculously, soar, handing a windfall of some $30 million to those who had loaded up on the stock in the weeks before.TRGainz and Alwaysliquid knew what was coming and were struggling to contain their excitement. For days, chatter on this Stocktwits page and others, like a message board for Reddit users dedicated to penny stocks, had been steadily building about Blue Sphere.That the company had neither a stock exchange listing nor recent financial disclosures of any kind seemed not to matter to anyone. It was a clean-energy company and, with the Democrats taking control of both the White House and Congress, that was enough to make it a sellable story to the day-trading masses who had turned into an unstoppable force in the great pandemic stock rally.Moneyman223 was a prominent voice throughout, imploring fellow members to jump in before the stock exploded. “Get in or regret not getting in,” the moneyman posted early Jan. 14, a day after another Stocktwits member had tagged Blue Sphere as a clear winner from the Democrats’ climate-change agenda.Late the next day, the final session of trading before the long weekend, Moneyman223 was prodding again: “not too late for you fools to still get in.” Then a character named byelowsellhi declared: “Have a great weekend fellow future millionaires.”Blue Sphere soared as advertised on Jan. 19. By the end of the day, it was up 451%, having risen from six-tenths of a penny to over 3 cents. Roughly 2 billion shares traded that day, staggering and yet not altogether abnormal volume in a burgeoning new age of penny stock speculation. The chat-forum posts came in fast and furious as the stock soared: “Incredible day everyone,” “we r gonna filthy rich together” and “congrats to everyone who took the risk & believed in yourself!!!!!!”On any given day, there are a dozen or more Blue Sphere-like stories of tiny, profitless companies that mysteriously go from obscurity to viral sensation. Lately the frenzied pace of boom and bust in these penny stocks has started to drown out all the other forms of speculative mania in the pandemic-era market. Call it another froth marker -- retail traders beset with mass psychosis amid zero-commission fees and zero benchmark interest rates -- to be filed alongside the GameStop Corp. saga, the three-fold rally in cryptocurrencies, the SPACs that are minted daily and the record highs being plumbed by major equity indexes.“People start to look around and say, ‘What else can I do with my money?’” said JJ Kinahan, chief market strategist at TD Ameritrade. Rules regarding trading over-the-counter securities vary broker to broker, but they can be purchased on any of TD Ameritrade’s trading platforms for a fee. “Those would be one of the ones on the top of my list to say to people, ‘Please understand the risk that you’re taking going in there.’ I learned early in life, if there’s a lot of upside, there’s a lot of downside. People just might not want to tell you about the downside.”For anyone observing at a distance, it’s hard to understand how penny stocks of the moment are chosen. How does critical mass form around them? The universe of companies that make up off-exchange trading in America is vast, and they trade on lightly regulated quotation services where information is scant to non-existent. Like everything on the internet, it’s next to impossible to track down exact origins. But in trying to locate the spark, these types of message-board conversations almost always presage takeoff.And while nobody so far is ascribing illicit intent to the goings-on in today’s trader-chat rooms, it’s hard not to note the similarity to the penny-stock crazes of yesteryear, when schemes like “pump-and-dump” and “greater fool” were the rage.Stocktwits, which bills itself as the largest community for investors and traders, has been increasing its focus on content moderation and support to crack down on get-rich-quick scams, according to Chief Executive Officer Rishi Khanna.“It’s something we keep our eye out for. Now we can’t obviously pay attention to every single screen, so we depend on the community to report something that might seem a little bit off or funky,” Khanna said in an interview. “We’re not going to stop it all -- that’s just physically impossible -- but we do our best.”Attempts to contact officials at Blue Sphere for comment were unsuccessful. Emails and voicemails left by Bloomberg News weren’t answered.The company hasn’t filed a report with the U.S. Securities and Exchange Commission in roughly two years. In the aftermath of the stock’s surge last week, a Stocktwits member with the user name WolfeRegalia, wrote, “I can’t find any real information. Company’s website has financials backed to 2018. Any leads someone can recommend? Thanks in advance.”Such is the challenge of telling a true long-term penny stock investment from a straight pump -- when a group of people pile into the same stock at the same time to quickly influence prices.One rapidly growing Reddit forum dedicated to penny stock trading recently updated its rules to curb user shilling. The page, r/pennystocks, now boasts over 430,000 members -- “astronauts,” using the site’s own nomenclature. That’s up 21% from the end of December, according to Breakout Point, a data and analytics firm that tracks such information.At the top of the r/pennystocks page is a frequently asked questions drop down menu. One option reads, “Identifying a pump,” and links back to a three-year-old post titled, “How to find, and ride pumps.”The first step? According to the post, start by downloading Stocktwits, but use your own discretion.“I hesitate to tell you this simply because I don’t want you to buy into all the hype on there,” the post reads. “Remember, don’t trust anyone, especially all the talk on Stocktwits. Most of it is all garbage. Don’t believe it.”Then find a stock that’s recently gone parabolic, do some research to see which people were telling folks to buy before the surge (they’re the pumpers), follow those people and set up alerts for when they make new posts.“Don’t cross the line,” the post reads. “Now I do want to stress the importance here that pumping a stock is illegal. However investing in a stock that is rising in price and volume is not.” But in closing, “Good luck everyone! May your losses be low, and your gains be high.”These days, there’s plenty of hopefuls out there.“The newly minted day traders which have been such dominant forces in the market -- they keep finding other places to go and bring that speculative fervor into the mix, and it seems penny stocks is the latest,” said Liz Ann Sonders, Charles Schwab’s chief investment strategist. Trading of OTC stocks is available for those with Schwab brokerage accounts. “I have no speculation or knowledge or even guess on what starts that, but whatever does, it feeds on itself and year-to-date that’s been another hot trend.”As for Blue Sphere, it appears the fever hasn’t broken. The stock price did almost collapse 50% in the first three days after its Jan. 19 pop, but on Monday, it shot higher once again, ending the day at 2.2 cents, for a gain of 26%.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.
A mix of choices for investorsMutual funds can help diversify your retirement portfolio, whether you're looking for growth through equity exposure or dividend income. Vanguard has a reputation for offering low-cost index funds and exchange-traded funds to help investors achieve their retirement goals.
Shares of Virgin Galactic Holdings Inc. are poised to hit a record closing high Tuesday, rallying more than 17% and on pace for their largest one-day percent increase in a little over a week. The stock also stretched their winning run to a sixth straight session, up 40% in the period. Virgin Galactic stock has gained 77% in the past 12 months, compared with gains around 17% for the S&P 500 index.
Lockheed reported mixed Q4 results and guided 2021 earnings below consensus but was upbeat on hypersonic sales growth.
During my working career, I saved money in taxable brokerage accounts, IRAs and 401(k)s, but never focused on Roth accounts. As an experienced investor but a Roth novice, I wanted initially to take it slowly. The first thing I learned is that you should start a Roth IRA by age 55, so you can withdraw all amounts—contributions and earnings—tax-free beginning at age 59½.
Some companies favor a "do one job and do it well" approach. However, that is not the Sorrento Therapeutics (SRNE) way. While being laser-focused on just one objective can have its advantages, having a wider-based remit can be just as effective, if done well. That is certainly the opinion of Alliance Global analyst James Molloy when evaluating Sorrento’s prospects. “SRNE combines one of the most active and promising pipelines in the COVID space with a potentially transformative non-opioid pain pipeline, and adds in a deep oncology pipeline,” the analyst said. “Most of SRNE's pipeline has significant catalysts over the next 1-4 quarters, with multiple late-stage clinical data read-outs and multiple potential Emergency Use Authorization (EUA) launches as well.” So, what’s on offer from the Sorrento menu in the near-term? The company has already filed an EUA for COVI-STIX, a 15-minute nasal swab antigen test for SARS-CoV-2, in the US and Mexico, and the test could be launched as early as 1H21. Accurate COVID tests are still needed in the US and around the globe, and Molloy expects the assay to gain EUA approval and could “rapidly approach $500M in sales as soon as 2022.“ SRNE's 8-minute SARS-CoV-2 antibody test COVID-TRACK could swiftly follow in its footsteps with an EUA anticipated to be filed in the year’s first half, too. “This could easily be another $500million+ near term opportunity,” Molloy said. Furthermore, the company’s two neutralizing antibody treatments, COVI-DROPS and COVI-AMG, against SARS-CoV-2, could be launched in 2022. Each of these, as well, have the potential to bring in more than $500 million in sales, according to the analyst The company’s non-opioid pain pipeline also has several late-stage catalysts. Fast tracked by the FDA, Phase 3 data for sciatica pain candidate SP-102 should be available this year, while RTX for OsteoArthritis (OA) knee pain and intractable cancer pain will kick-off Phase 2 and Phase 3 studies, respectively, in 2021. Both target “substantial market opportunities.” Last but not least is Abivertinib, the company's oncology lead candidate, indicated for non-small-cell lung cancer (NSCLC) and B-cell lymphomas, and currently in Phase 3 trials in China with top line data anticipated in 1H21. To this end, based on the progress of the company's pipeline, Molloy sees significant gains in SRNE's future. The analyst rates the stock a Buy and his $35 price target implies a hefty 277% upside. (To watch Molloy’s track record, click here) Overall, Sorrneto currently has few, yet very positive analysts tracking its progress. With Buy ratings only – 3, in total - the stock has a Strong Buy consensus rating. There’s plenty of upside projected, too; At $28.67, the average price target suggests gains of ~209% over the next 12 months. (See SRNE stock analysis on TipRanks) To find good ideas for healthcare 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
U.S. stocks have been hanging around record highs recently amid broader participation by individual investors, but now cracks are starting to form in the foundation of the bull market, according to technical analysts at SentimenTrader.
DraftKings and Penn National stock are likely to outperform as states consider allowing online betting, in part to close budget gaps with the tax revenue, Goldman Sachs says.