Top Ranked Income Stocks to Buy for January 29th

BBC
HSBC boss Noel Quinn scraps executive floor at London HQ
Bank chief Noel Quinn says the "new reality of life" is people will not be in the office five days a week.
6h ago
Reuters
Mastercard to buy digital ID verification firm Ekata in $850 million deal
Ekata's products allow businesses to separate fraudsters from legitimate customers during digital interactions like opening an online account or making digital payments. "The acceleration of online transactions has thrust global digital identity verification to the forefront as one of the biggest opportunities to build digital trust and combat global fraud," said Rob Eleveld, chief executive officer of Ekata, in a statement.
6h ago
Bloomberg
Bank of England Joins Global Peers Exploring a Digital Currency
(Bloomberg) -- Britain’s Treasury and the Bank of England are weighing the potential creation of a central bank digital currency, joining authorities from China to Sweden exploring the next big step in the future of money.The government and central bank on Monday announced the creation of a task force to coordinate on the possibility of BOE-issued digital money for use by households and businesses. They will engage in discussions with stakeholders on the risks and benefits before making a decision.If approved, the digital currency would “exist alongside cash and bank deposits, rather than replacing them,” according to the statement.With modern technologies and the coronavirus accelerating the push toward cashless transactions, and crypto currencies such as Bitcoin gaining traction, central banks are taking action to make sure they don’t fall behind.In 2020, the Bahamas launched the Sand Dollar, making it among the world’s first sovereign-backed digital currencies. The European Central Bank and Sweden’s Riksbank have said they could follow suit around the middle of the decade.China is also considering a digital yuan, but the Federal Reserve has previously said it was not something the U.S. would rush into.The U.K. task force will be jointly chaired by BOE Deputy Governor Jon Cunliffe and the Treasury’s Director General of Financial Services, Katharine Braddick. A new CBDC division will be set up at the central bank.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.
10h ago
Bloomberg
Tesla’s Fiery Crash Adds to Drag on Already Wobbly EV Stocks
(Bloomberg) -- Tesla Inc.’s stock posted its biggest drop in a month after a fiery fatal crash of a Model S car over the weekend added to a broader pessimism about electric vehicle stocks.Shares of Elon Musk’s automaker fell as much as 6.5% in New York and came under renewed pressure at midday as the National Highway Transportation Safety Administration said it had launched a probe into the crash. While investigators are zeroing in on circumstances unique to the accident, industry watchers have been concerned that EV startups may soon lose their competitive edge, as mass-market rivals like Mercedes-Benz AG and Stellantis NV roll out their own models.Stellantis said last week it will accelerate its shift to EVs, and vowed that battery-driven cars will account for more than a third of its European sales by mid-decade. Italian supercar maker Ferrari NV plans to unveil its first entrant in 2025, and Mercedes-Benz has already debuted the EQS, the first all-electric car that the 94-year-old company will sell in the U.S.Those announcements followed closely on similar moves from General Motors Co., Ford Motor Co. and Volkswagen AG, which all outlined ambitious EV plans this year.Tesla’s lead in global battery-electric-vehicle sales slipped 1 percentage point to 24% in 2020 from 2019, according to an April 14 report from Bloomberg Intelligence analyst Kevin Tynan. Meanwhile, “the share of the VW Group rose to 9% from 4% in 2019, on track to overtake Tesla in 2023 and a sign that established automakers may quickly gain once committed to the drivetrain technology.”Amid this backdrop, shares of Elon Musk’s Tesla dropped to as low as $691.80 in New York, recording their biggest intraday decline since March 18. Smaller EV stocks were also down, including Nikola Corp., Workhorse Group Inc., Lordstown Motors Corp. and Fisker Inc.Tesla’s decline was spurred by the crash of a 2019 Model S late Saturday in Texas, which erupted into flames and killed the two passengers. Local authorities said “no one” appeared to be driving, with neither of the victims found in the driver’s seat. Tesla previously faced criticism from federal officials for fire risks related to the battery packs in its cars and for not doing enough to keep drivers from using its driver-assist function inappropriately.More recently, Tesla’s stock price has been rocked by mixed headlines on Wall Street. While one of Cathie Wood’s Ark Investment Management funds said last week it sold some shares, Goldman Sachs recommended buying the stock as it raised the forecast for EV sales penetration.The EV industry leader’s share price has been lackluster this year, with Tesla now little changed since the start of 2021, in stark comparison with 2020’s breathtaking rally. The company is scheduled to report first-quarter results on April 26.(Updates with NHTSA opening probe into Tesla crash in the second 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.
4h ago
Bloomberg
Coca-Cola Tops Sales Expectations Amid Vaccine-Led Reopening
(Bloomberg) -- Coca-Cola Co.’s sales beat expectations in the first quarter as the soda maker said it saw early -- though uneven -- signs of recovery in demand, particularly in areas with stronger rates of vaccination against Covid-19.The company also said it plans to sell a portion of the Coca-Cola Beverages Africa bottling business via an initial public offering.Coke’s organic revenue, which excludes the impact of currency or acquisitions, climbed 6% in the quarter ended April 2, according to a statement Monday. That topped the estimated 0.5% growth analysts had been expecting, according to forecasts compiled by Bloomberg.The results hint at a potential rebound as consumers worldwide emerge from more than a year of isolation, a process that is happening at different rates in different countries. The company is “encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up,” Chief Executive Officer James Quincey said in the statement.The soda business is unlikely to see full recovery until people are back at restaurants and amusement parks worldwide, buying overpriced hot dogs and giant-sized soft drinks. The uneven reopening pace is showing up in the results: Recovery remains “asynchronous” around the world, the company said. Unit case volume was down 6% in North America, but up 9% in Asia Pacific. Globally, case unit volume was flat.Coke shares rose 1% to $54.20 at 9:52 a.m. in New York. The stock declined 2.1% this year through Friday.Bottling IPOThe company also announced plans to list Coca-Cola Beverages Africa as a publicly traded company within the next 18 months. “A standalone listing for CCBA will enable the bottler to build on its growth trajectory and access capital independently to meet the investment needs of the business, which is great for stakeholders across Africa,” said Jacques Vermeulen, CEO of CCBA.An IPO of Coke’s stake could value the African business at about $6 billion, Bloomberg News reported last month. The soft-drink giant, which owns 66.5% of the bottling company, didn’t specify how much of its stake it intends to sell.Earlier: Coca-Cola Is Said to Consider Options for $6 Billion Africa UnitCoke is grappling with the commodity inflation pressures that are affecting other manufacturers, Chief Financial Officer John Murphy said in an interview.While consumer prices may start to rise this quarter, the company is “well-hedged” to withstand much of the cost pressure in the near term, he said. “We think it’s manageable this year; it’s really a 2022 challenge.”Aluminum CostsMost relevant to the soda maker will be higher costs in plastic and aluminum, including can-supply challenges in the U.S., he said. That should abate in 2022, though, with more supply becoming available.Coke is also seeing increases in high-fructose corn syrup and coffee. The company plans to manage those higher costs with supply-chain productivity and pricing, Murphy said.“Pricing decisions and hedging decisions are actually local decisions,” he said. “We will be working closely with our bottling partners all around the world to come up with the optimal solutions that could happen starting in the second quarter.”Coke reaffirmed its forecast for organic sales percentage growth of high single digits in 2021 and comparable earnings-per-share expansion of high single digits to low double digits. The company slightly trimmed its expectations for the impact of currency benefits on net revenue and comparable earnings.(Updates with share trading in sixth paragraph, adds chart.)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.
6h ago
Bloomberg
Barclays Drops Prison Bond Deal at Last Minute After Furor
(Bloomberg) -- Barclays Plc pulled out of its role as the lead underwriter of a municipal-bond sale that was set to build prisons for CoreCivic Inc. after criticism that the bank was backtracking on a pledge to no longer provide financing to for-profit jail companies.KeyBanc Capital Markets, another manager, also said it was resigning from the transaction.The $634 million bond issue was set to be sold as soon as last week through a Wisconsin agency to raise money for a CoreCivic-owned company that was planning to build two prisons in Alabama. The facilities were set to be leased and run by the state’s Department of Corrections.The bank’s lead role in the deal drew controversy because it appeared to be at odds with Barclays’ announcement two years ago that it would no longer provide new financing to private prison companies, whose model of profiting from incarceration has drawn controversy for years. Other banks, including Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co., also said at the time that they were severing ties with the industry.The banks’ last minute decision to abandon the deal was highly unusual and may reflect the growing clout of investors who are pouring into socially minded investment funds, creating a lucrative and growing business that financial institutions are eager to court.Bloomberg News was first to report Barclays’ involvement in the muni-bond deal earlier this month.“We have advised our client that we are no longer participating in the transaction intended to provide financing for correctional facilities in the State of Alabama,” Barclays said Monday through a spokesman in an emailed statement. “While our objective was to enable the State to improve its facilities, we recognize that this is a complex and important issue. In light of the feedback that we have heard, we will continue to review our policies.”KeyBanc Capital Markets has “resigned” from the transaction, a bank spokesperson said via email. A representative for Stifel Financial Corp., another underwriter, didn’t immediately respond to a request for comment.The banks’ retreat may not derail the project, though the departure of the lead underwriter will almost certainly delay the financing. Alabama Governor Kay Ivey, a Republican who has spearheaded the overhaul of the prisons, said in a statement that the state was disappointed by the decision but would move forward with the projects.CoreCivic spokesperson Amanda Gilchrist said in an emailed statement on Monday that the company is proceeding with efforts to “deliver desperately needed, modern corrections infrastructure to replace dilapidated, aging facilities.”“The reckless and irresponsible activists who claim to represent the interests of incarcerated people are in effect advocating for outdated facilities, less rehabilitation space and potentially dangerous conditions for correctional staff and inmates alike,” she said.The taxable municipal bond sale was expected to provide about 68% of the financing totaling $927 million, according to investor roadshow documents dated March 31. Those plans included the potential sale of $215.6 million in debt issued through a private placement and an equity contribution from CoreCivic.Barclays had defended its work on the deal, saying it wasn’t at odds with its 2019 decision because the money was financing facilities that would be run by Alabama. The state’s officials said the deal with CoreCivic will help it improve conditions within its prison system after the state and its corrections department were sued by the U.S. Justice Department in December for failing to protect male prisoners from violence and unsanitary conditions.Governor Ivey said in the statement that the new facilities would be safer and provide more secure correctional environments.“These new facilities, which will be leased, staffed, and operated by the state, are critical to the state’s public infrastructure needs and will be transformative in addressing the Alabama Department of Corrections’ longstanding challenges,” the statement said.Related: Barclays Bond Deal Shows Limits to Vow on Financing Prison FirmsBarclays nevertheless drew fire from advocacy groups and the public portion of the debt sale was reduced last week, a step that usually indicates that a bank is having difficulty lining up buyers for securities.Last week, the American Sustainable Business Council and partner organization Social Venture Circle, which represents 250,000 businesses to advocate for responsible practices and policies, announced that they would refund Barclays’ membership dues. Barclays joined the group in 2019.“We applaud Barclays’ decision to not underwrite the Alabama private prison bonds,” said David Levine, president of American Sustainable Business Council in a statement on Monday. He said that he invites the bank and other financial institutions to “chart a responsible and beneficial path forward for investing and rebuilding our communities, and our economy.”Related: Barclays Kicked Out of Business Group Over Prison-Bond Work(Adds comment from Alabama governor starting in ninth paragraph and CoreCivic comment 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.
4h ago
CoinDesk
Dogecoin Eclipses XRP as 4th Largest Cryptocurrency Ahead of ‘Dogeday’
Dogecoin briefly replaced XRP as the fourth-largest coin early Monday.
7h ago
Benzinga
Around 100 People Control DOGE's Entire $46B Market: Report
Dogecoin (CRYPTO: DOGE) has been hard to ignore lately, as the meme-based cryptocurrency rose to become the sixth-largest with over $46 billion in market cap. What Happened: With 7,000% year-to-date returns and considerable outperformance against several top cryptocurrencies, DOGE’s appeal to retail investors has steadily been on the rise. However, several crypto influencers and traders have cautioned against going “all-in” on DOGE, citing concerns of a few large holders controlling the majority of its supply. See also: How to Buy DOGE Over 65% of Dogecoins are distributed among just 98 wallets across the world, while the single largest wallet holds 28% of all Dogecoins. In fact, just five wallets control 40% of the coin’s supply. Essentially, around 100 people control the entire $46 billion DOGE market. “The scam is simple - Hold on to Dogecoin till there is enough traction after it multiplies, dump all coins and cash out - Become instant billionaires,” said Akand Sitra of cryptocurrency risk management platform TRM Labs. Why It Matters: Sitra’s analysis of DOGE’s supply distribution was possible due to the nature of blockchain transactions, which are available for anyone to see on the open distributed ledger. Some on-chain analytics of the top DOGE holders led experts to believe that the cryptocurrency’s supply is concentrated among just a few holders. “The Dogecoin bubble will burst by the end of this year, easily,” said Sitra. Other traders in the space echoed this sentiment, calling it the reason why they will never be in DOGE “no matter the gains.” Why I'm not in $DOGE and will never be no matter the gains. https://t.co/jFVU2yQf03 — QuartzHands (@NFTiepie) April 19, 2021 At press time, DOGE was trading at $0.3976, up 32% overnight and 394% in the past seven days. DOGE holders were preparing for April 20, where a large group of retail traders has predicted the coin will touch $0.69. See Also: Dogecoin Creator Defends Meme Crypto's Supply: Doesn't 'Matter For Price' Image: Ivan Radic via Flickr See more from BenzingaClick here for options trades from BenzingaDeFi Blue Chip Season? Here's What Cryptos Coinbase Employees Are Buying Right NowInvestors In Disbelief As DOGE Becomes Top 5 Crypto With B Market Cap© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
10h ago
Reuters
Citigroup to ramp up Chinese investment banking plan - source
Citigroup plans to expand its investment banking business in China and will soon apply to set up local underwriting, sales and trading and futures trading businesses by the end of June, a person with direct knowledge of the matter told Reuters. The move comes after the U.S. bank revealed last week it would sell its retail banking assets in 13 markets, including mainland China. Citigroup's applications to regulators are being finalised and should be officially lodged shortly, the source said.
10h ago
Bloomberg
HSBC Asia Technology M&A Head Choy to Join Midea as CFO
(Bloomberg) -- HSBC Holdings Plc’s head of technology mergers and acquisitions in Asia Jeremy Choy is joining Chinese home appliance giant Midea Group Co. as its chief financial officer.Midea announced Choy’s appointment on Monday, confirming an earlier Bloomberg News report. Choy, 39, is replacing Helmut Zodl, who left the Chinese company earlier this year to become the CFO of General Electric Co.’s health care business.The Hong Kong-based veteran dealmaker is taking up the job as Midea seeks to diversify from its traditional home appliances business. The Chinese company, which focuses on making air conditioners, refrigerators and washing machines, is looking to tap into technology-driven areas such as smart living and the so called Internet-of-Things.For his new role, Choy will be based at Midea’s headquarters in the southern Chinese city of Foshan, people familiar with the matter have said.Choy joined HSBC in June 2019 from China Renaissance Holdings Ltd., where he was the head of M&A, according to his LinkedIn profile. He previously worked for JPMorgan Chase & Co. and Goldman Sachs Group Inc.Midea’s founder and largest shareholder He Xiangjian does not hold a management role nor do his relatives -- a rare occurrence for a Chinese family-owned company.The company has grown via acquisitions including Kuka AG in 2017, in a deal that valued the German robot maker at 4.6 billion euros ($5.5 billion). That same year, it bought majority stakes in Toshiba Corp.’s home appliances business and Clivet SpA, an Italian maker of air conditioners, for undisclosed amounts.More recent deals include its 13-billion-yuan ($2 billion) purchase of Chinese appliances maker Wuxi Little Swan Co. in 2019. In December 2020, it entered the elevator business with the purchase of Winone Elevator Co. Earlier this year, it agreed to buy a 29% stake in Beijing Wandong Medical Technology Co.Choy’s move would follow those of other high-profile bankers joining large companies as CFOs. Peter Enns has joined property-casualty insurer Chubb Ltd. after more than 20 years in investment banking, most recently as global co-head of investment banking coverage at HSBC based in Hong Kong. Last year, Credit Suisse Group AG technology banker Alain Lam left the Swiss bank to join Chinese smartphone maker Xiaomi Corp.(Updates with Midea’s exchange filing throughout the story.)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.
9h ago
MarketWatch
Want more money for retirement without a lot of effort? Ask your company about this perk
Who doesn’t want a little extra ‘free’ money in their retirement accounts? If you have an employer-sponsored retirement account, such as a 401(k) or 403(b), ask your company’s human resources department if there is a company match — then make sure you’re contributing at least as much as you need to take advantage of it. With an employer match, the company is contributing up to a percentage of what the employee puts into her employer-sponsored retirement plan.
3h ago
TipRanks
3 “Strong Buy” Dividend Stocks Yielding Around 7%
These past 12 months have seen the S&P 500 return its best performance ever – an 80% gain as of the end of March. But are the good times wrapping up? Some historical data would suggest that the bulls will keep running. Since 1950, the market has seen 9 sustained, year-long runs with a rolling return of 30% or better on the S&P 500. These periods have seen an average one-year gain of 40% (the median has been 34%) – and none of these bull markets has ever ended in its second year. But investors should not expect the same sky-high returns in the coming 12 months as they have just seen in the last, according to Callie Cox, a senior investment strategist at Ally Invest. "[I]t's typical for the bull market to lose a little bit of steam going into year two... Expectations start rising and makes it harder for the market to… beat everybody's expectations. And that leaves a greater chance for disappointment. And to be clear, again, we're not calling for doom and gloom. We just think the market is due for a breather up in the next quarter or two," Cox opined. For investors focused on returns, the prospect of a lower sustained gain in share appreciation will naturally prompt a look at dividend stocks. Reliable, high-yield dividend payers offer a second income stream, to complement the share appreciation and ensure a solid return for investors. With this in mind, we used the TipRanks' database to pinpoint three stocks that meet a profile: a Strong Buy rating from Wall Street’s analysts and a dividend yield around 7%. Trinity Capital (TRIN) We’ll start with Trinity Capital, a venture debt company that makes capital available to start-ups. Trinity’s investment portfolio totals $494 million, spread over 96 companies. The company entered the public markets earlier this year, closing its IPO early in February. The opening saw 8.48 million shares become available for trading, and raised over $105 million after expenses. In its 4Q20 report – the company’s first quarterly report as a public entity, covering the last quarter as a private firm – Trinity showed net investment income of $5.3 million, with a per-share income of 29 cents. This was more than enough to fund the dividend, paid in December at 27 cents per share. Since then, Trinity has declared its 1Q21 dividend, raising the payment by a penny to 28 cents per common share. Trinity has a announced a policy of paying between 90% and 100% of taxable quarterly income in the dividend. At the current rate, the payment annualizes to $1.12 per share, and gives a yield of 7.6%. This is significantly higher than the average yield of 1.78% found among peers in the financial sector. In his note on the stock, Compass Point analyst Casey Alexander states his belief that Trinity has a clear path toward profitable returns. “TRIN operates within the attractive, growing venture debt ecosystem. As such we expect strong net portfolio growth followed by improved NII and increasing dividend distributions, with potential upside from equity/warrant investments,” Alexander noted. To this end, Alexander rates TRIN a Buy, and his $16.75 price target implies an upside of ~14% for the next 12 months. (To watch Alexander’s track record, click here) This newly public stock has already picked up 5 analyst reviews – and those break down to 4 Buys and 1 Hold, for a Strong Buy consensus rating. Trinity shares are selling for $14.74; their $16.46 average price target suggests the stock has ~12% upside potential. (See TRIN stock analysis on TipRanks) Energy Transfer LP (ET) With our second stock, Energy Transfer, we move into the energy midstream universe. Midstream is the necessary sector connecting hydrocarbon exploration and production with the end markets; midstreamers control the transport networks that move oil and gas products. ET has a network of assets in 38 states, which link three major oil and gas regions: North Dakota, Appalachia, and Texas-Oklahoma-Louisiana. The company’s assets include pipelines, terminals, and storage facilities for both crude oil and natural gas products. The big news for Energy Transfer, in recent weeks, comes from two sources. First, on April 9, reports came out that that the US Army Corps of Engineers is not likely to recommend shutting down the Dakota Access Pipeline (DAPL). This project, when complete, will move oil from Alberta’s oil sands region across the US to the Gulf Coast; the Biden Administration wants to shut it down for environmental reasons, but the industry is fighting to keep it. And second, two largest shareholders of Enable Midstream have approved a proposed merger, by which ET will acquire Enable. The merger is projected to be worth $7 billion. Earlier this year, Energy Transfer reported 4Q20 EPS of 19 cents per share, on income of $509 million. While down year-over-year from the 38 cent EPS reported in 4Q19, the recent result was a strong turnaround from the 29-cent net loss reported in Q3. The company’s income is supporting the current dividend of 15.25 cents per common share. This annualizes to 61 cents, and give a yield of 7.7%. The company has paid out a dividend every quarter since Q2 of 2006. Covering this stock for Credit Suisse, analyst Spiro Dounis writes: “We updated our model to reflect a mid-2021 completion of the Enable Midstream acquisition. We view the deal as accretive and see additional potential upside resulting from operational/commercial synergies. ET highlighted potential synergies around both ENBL’s natural gas and NGL assets, noting that gas synergies could be realized fairly quickly while NGL opportunities are more long-term as legacy contracts roll. Upwards of ~$100mm of NGL uplift over the next several years doesn’t appear unreasonable, in our view.” Dounis also notes that the main risk to the company arises from DAPL, which may still be shut down by the Biden Administration. Even so, he rates the stock an Outperform (i.e. Buy), with an $11 price target indicating a 39% one-year upside. (To watch Dounis’s track record, click here) Wall Street’s analysts can be a contentious lot – but when they agree on a stock, it’s a positive sign for investors to take note. That’s the case here, as all of the recent reviews on ET are Buys, making the consensus rating a unanimous Strong Buy. The analysts have given an average price target of $11.60, indicating ~47% upside from the current share price of $7.94. (See ET stock analysis on TipRanks) Oaktree Specialty Lending (OCSL) Last but not least is Oaktree Specialty Lending. This company is one of many specialty finance providers, making loans and credit available in the mid-market segment, to smaller firms that would otherwise have difficulty accessing capital. Last month, Oaktree Specialty Lending completed a merger with Oaktree Strategic Income Corporation (OCSI). The combined company, using OCSL’s name, has more than $2.2 billion in assets. Oaktree’s investment portfolio totals more than $1.7 billion, primarily in first and second liens, which make up 85% of the company’s investment allocations. Oaktree finished 2020 with its fiscal first quarter, ending December 31. In that quarter, the company increased its dividend payment by 9%, to 12 cents per share, or 48 cents per share annualized. At this rate, the dividend yields 7.25% -- and marks the third quarter in a row of a dividend increase. Oaktree has kept up reliable dividend payments for more than three years. Among the bulls is Kyle Joseph, a 5-star analyst with Jefferies, who puts a Buy rating and an $8 price target on this stock. His target implies room for 20% upside potential in the next 12 months. (To watch Joseph’s track record, click here) “OCSL's conservative strategy in recent years has ultimately paid off, as the BDC is deploying dry powder into higher-yielding investments. Credit performance remained solid through the MRQ, while fundamentals are encouraging… We believe the BDC has sufficient liquidity to support near-term opportunities and believe the company is positioned to take advantage of the recent economic volatility, which was particularly highlighted by the recent 9% increase in the quarterly distribution... In the longer term, we believe OCSL represents an attractive investment,” Joseph wrote. Overall, OCSL has received 3 recent Buy reviews, making the analyst consensus rating a Strong Buy. The stock is currently trading at $6.66 and its average price target of $7.33 indicates ~10% upside from that level. (See OCSL 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.
5h ago
MoneyWise
What if Biden doesn't cancel your student loan debt? There's an alternative
There's speculation about forgiving $10,000 or $50,000 per person, but no real plan yet.
1d ago
Reuters
Harley-Davidson hits recovery road amid focus on touring bikes
(Reuters) -Harley-Davidson Inc on Monday raised its full-year earnings forecast after smashing analysts' quarterly profit estimates, vindicating Chief Executive Jochen Zeitz's decision to focus on more-profitable touring bikes at the expense of cheaper entry-level models. The company, however, also received a setback in the European Union - its second-biggest market - where all of its products, regardless of origin, will be subjected to a 56% import tariff from June following a new EU ruling. The ruling revokes the credentials that currently allow Harley to ship certain motorcycles to the EU from its international manufacturing facilities at a 6% tariff.
10h ago
MoneyWise
The new child tax credit payments are back on track — here's how to plan for them
The IRS commissioner now says the monthly payments to families will indeed start in July.
1d ago
Barrons.com
Coinbase and Dogecoin Prove Resilient After Crypto Crash
Investors had been waiting for Coinbase stock to be tested after its public market debut last week, and they didn’t have to wait long.
4h ago
USA TODAY
There is a surge in new job openings, but why isn't there a surge in job candidates?
More employers are actively recruiting job candidates, even for low- and middle-level white collar jobs as fewer answer ads during COVID crisis.
13m ago
Bloomberg
Putin’s Answer to U.S. Sanctions Is More Economic Isolation
(Bloomberg) -- Russian President Vladimir Putin is likely to respond to the latest round of U.S. sanctions threats as he has to past ones: by speeding his drive to make Russia’s economy more self-sufficient.In the seven years since Russia’s annexation of Crimea, Putin’s government and central bank have stripped back the country’s exposure to dollars, shifted assets out of the U.S. and sold a smaller share of its debt to foreigners.“The Americans are saying: be careful or we could do more, but Russia is just going to continue down the path toward economic autarky,” said Elina Ribakova, deputy chief economist at the Institute of International Finance in Washington.The administration of U.S. President Joe Biden is keeping the threat of sanctions hanging over Russia even after a sweeping round of penalties imposed last week. On Sunday, the U.S. warned of “consequences” if jailed opposition activist Alexey Navalny dies in prison.These four charts show how Putin has responded to past rounds of sanctions by increasing Russia’s economic isolation.The share of gold in Russia’s $581 billion international reserves jumped above dollars for the first time on record last year following a multi-year drive to reduce exposure to U.S. assets. The precious metal made up 24% of the central bank’s stockpile as of the end of September 2020, the latest date for which the breakdown is available. The share of dollar assets was 22%, down from more than 40% in 2018.That trend also shows up in the share of Russia’s international reserves held in the U.S., which plummeted to just under 7% by the end of September, down from about 30% before the Crimea annexation. Most of the shift happened in the second quarter of 2018 just after sanctions on aluminum giant United Co. Rusal revealed how vulnerable Russia was to sanctions.What Our Economists Say...Russia’s resilience to successive waves of sanctions provides a false sense of security. With the U.S. running out of options, the next round could be more disruptive, and the measures already in place are holding back trade and investment.-- Scott Johnson, Bloomberg EconomicsOf course, there’s only so much that Russia can do without cutting itself off entirely from the global economy. But officials in Washington are also restrained by the fact that if they go too far (as they did with the Rusal sanctions that were later revoked), they risk sending tremors through global markets.Acting on a pledge by Putin to “de-dollarize” trade, Russia has been slowly cutting back on use of the greenback in its exports with the European Union, China and India. The euro has almost overtaken the dollar in Russia’s trade with the EU and has already surpassed it in exports to China. About two-thirds of Russia’s exports to India, meanwhile, are paid for in rubles.How Virus-Panicked Markets Showed Dollar’s Still King: QuickTakeLast week’s penalties included a ban on purchases of bonds on the primary market, so the next big targets could be secondary-market debt and Russian banks’ access to the financial messaging system used for most international money transfers. Russia is already looking for alternatives to the system, known as SWIFT, to make itself less vulnerable, though attempts so far haven’t led to much.One reason the Finance Ministry wasn’t too concerned about the latest sanctions measure on government debt is that Russia has mostly been selling to local banks at its weekly auctions anyway. Borrowing was ramped up during the pandemic even though foreign demand was weak, which increased the overall size of the market and pushed down the share of foreigners.U.S. banks can still buy new debt on the secondary market after the penalties come into force in mid-June. Russia is “well positioned” for a near term market disruption because it has a high cash buffer and demand from local banks is “robust,” Fitch Ratings said in a research note published late on Friday.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.
6h ago
Yahoo Finance
GameStop shares soar after CEO departure news, 'RoaringKitty' doubles stake
GameStop shares were on a tear early Monday, as Kieth "RoaringKitty" Gill announced he was doubling his stake in the firm and CEO George Sherman said he is stepping down.
6h ago
Barrons.com
GameStop Is Popping, Coinbase Is Dropping, and the Stock Market Is Following Bitcoin Lower
Stocks were down Monday morning even after encouraging comments on Johnson & Johnson’s vaccine from Dr. Anthony Fauci.
7h ago

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