Top Ranked Income Stocks to Buy for July 2nd

Yahoo Finance
Powerball winner in Maryland should remember this before cashing the $730 million ticket: expert
Be wise with how you allocate your money, $730 million Powerball winner.
5h ago
Investor's Business Daily
Chipmaker Intel Beats Fourth-Quarter Targets, Raises Outlook, Hikes Dividend
Chipmaking giant Intel late Thursday beat Wall Street's sales and earnings targets for the fourth quarter. The earnings news, released just before the market close, drove Intel stock higher.
40m ago
LA Times
Column: What happens to businesses when their CEOs become extremists?
My Pillow CEO Mike Lindell is the latest business leader to discover the downside of becoming a crank.
1d ago
Benzinga
David Einhorn — Notorious Tesla Short Seller — Just Had His Best Quarter Ever
Greenlight Capital hedge fund manager and notorious value investor David Einhorn just released his annual letter to investors, which revealed a record quarter for Einhorn to close out a difficult 2020.Finishing Strong: Greenlight took a massive hit from a large short position in Tesla Inc (NASDAQ: TSLA) in 2020, but Greenlight finished strong with a 25% gain in the fourth quarter. Despite the disastrous Tesla short position, Einhorn was able to salvage a 5.2% overall gain for the fund for the year.The Greenlight letter disclosed several new long positions heading into 2021, including Fubotv Inc (NYSE: FUBO), Danimer Scientific Inc (NYSE: DNMR) and Neubase Therapeutics Inc (NYSE: NBSE), according to Bloomberg. All three stocks were trading higher by more than 10% on Thursday.Einhorn said the Tesla short position was Greenlight's biggest loser in 2020, although he reportedly adjusted the position prior to Tesla's inclusion in the S&P 500.Related Link: Q3 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their PortfoliosEinhorn's Recent Struggles: Greenlight has significantly underperformed the S&P 500 in recent years as growth stocks have soared and value stocks have lagged. Greenlight reported a 14% net gain in 2019 following a 38% net loss in 2018, its worst year since the fund's inception in 1996.Einhorn gained mainstream notoriety on Wall Street back in 2007 when he disclosed a short position in Lehman Brothers prior to the bank's collapse in 2008. However, he had drawn a lot of criticism in recent years for his persistent short position in Tesla and his often heated public communications with Tesla CEO Elon Musk."TSLA cars are not a fad; if they were, TSLA would sell many more than it does. The fad is in owning TSLA stock," Einhorn said in the letter.As of the end of the third quarter, Greenlight's three largest long positions were Green Brick Partners Inc (NYSE: GRBK), Brighthouse Financial Inc (NASDAQ: BHF) and Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW).Benzinga's Take: Economist John Maynard Keynes famously said "the market can stay irrational longer than you can stay solvent," and Einhorn's performance in recent years highlight just how much of a toll a single short position can take on an entire portfolio when the stock in question gets caught in a potential market bubble. Short positions can result in unlimited theoretical losses, whereas standard long positions are capped at just 100% downside.Image credit: PokerListings, YouTubeSee more from Benzinga * Click here for options trades from Benzinga * Why This Enphase Energy Analyst Is Bullish Following Tesla-Driven Sell-Off * Here's How Americans Are Spending Their Stimulus Payments(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
5h ago
Benzinga
PreMarket Prep Stock Of The Day: Eastman Kodak
Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.On any given day, the show will cover at least 20 stocks determined by co-hosts Joel Elconin and Dennis Dick along with producer Spencer Israel.News-driven stocks can be difficult to trade. One issue that has lived up to that billing is Eastman Kodak (NYSE: KODK), Thursday's PreMarket Prep Stock Of The Day.Say What? The issue, which had been dormant at the $5 level since 2018, caught a bid and went into orbit last July. Before the open on July 28, the company announced that it landed a $765-million U.S. government loan under the Defense Production Act to manufacture drugs to treat a variety of conditions.On that day, the issue rallied from $2.62 to $7.94.After the close, then-President Donald Trump said the government had reached a "historic" deal with the company to produce critical pharmaceuticals. That set the stage for a rally all the way to $60 on July 29, but the stock retreated to end the day at $33.22.The Dust Settles: It did not take long for Kodak to come back down to earth. After a $3 retreat on July 30 to $29.83, the issue was cut in half over the next two sessions to $14.94.Besides profit-taking, trapped longs and shorts reentering the issue, it was reported that the SEC was investigating the announcement of the loan, which is never a good thing.The crux of the investigation was that Kodak's announcement of the loan from the Trump administration was reported the day prior by local media in Rochester, New York, where the company is headquartered.Kodak apparently sent out a release without stipulating a timeline for when the story could be published. Another part of the investigation focused on stock options that were granted to Kodak executives a few days before the major announcement.Kodak's Trading Range: Since September, the issue has been in a range from $5.51 to $14.18, with a vast majority of the price action in the $7 and $8 area. For the most part, Kodak was spiking to the outer boundaries depending on whether there was good or bad news coming from the company or rumor mill.Here We Go Again: After ending Wednesday's session at $9.03, the issue spiked in the after-hours session on this press release.Minutes following the release, the issue rallied to $10.40 and reversed course. That high coincided with its Dec. 10 high of $10.50.Off the open of the regular session Thursday, the issue actually went red by 20 cents before it bottomed at $8.83. The rally off that low came up far shy of the after-hours high ($10.40), only reaching $9.60.Kodak shares were up 2.77% at $9.27 at last check Thursday.Kodak Moving Forward: Since its historic rally in July, a majority of the spikes higher related to news have faded, and Thursday's price action is a good example.Trading the issue in the short-term may be profitable for some, but for the last few decades, it has not been a good long-investment.See more from Benzinga * Click here for options trades from Benzinga * PreMarket Prep Stock Of The Day: Procter & Gamble * PreMarket Prep Stock Of The Day: EW Scripps(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
4h ago
Oilprice.com
The Biden Boom Is Coming And These Stocks Could Soar
With the Biden Administration likely to pump trillions into green energy infrastructure in the coming years, renewable stocks should outperform the market
23h ago
MarketWatch
If I inherit a Roth IRA, are the distributions taxed?
Q: When the inheritor of a Roth IRA receives the funds, is it true that the distributions would not be taxed? It would be unusual for any taxes to be due on an RMD from an inherited Roth IRA. The only portion of an inherited IRA that could be subject to tax is earnings.
6h ago
TheStreet.com
Jim Cramer: Here Are the Biden Stocks
As power has changed hands in the White House, we can expect these names -- and themes -- to benefit.
23h ago
MoneyWise
Dave Ramsey says these are 10 reasons you're not getting ahead
The financial expert and radio host says these money blunders can be costly.
21m ago
MarketWatch
BlackRock raises dividend by 14%, with first new payout in March
BlackRock Inc. said Thursday that it will raise its dividend by 14%. The investment management's new quarterly dividend of $4.13 a share, up from $3.63 a share, will be payable March 23 to shareholders of record on March 5. The stock slipped 0.1% in afternoon trading. At current prices, the new annual dividend rate implies a dividend yield of 2.23%, compared with the dividend yield for the SPDR Financial Select Sector ETF of 1.95% and the implied yield for the S&P 500 of 1.48%, according to FactSet. BlackRock's stock has gained 16.7% over the past three months, while the financial ETF has rallied 24.1% and the S&P 500 has advanced 12.1%.
4h ago
MoneyWise
Your next stimulus check — for $1,400 — is about to start moving closer
Congressional leaders plan to get "right to work" on it. How soon might you get the cash?
1d ago
Investor's Business Daily
IBM Stock Falls As Fourth-Quarter Revenue Continues To Slide
IBM reported fourth-quarter results late Thursday that fell short on revenue but beat on earnings as the company continues a major transition. IBM stock fell in after-hours trading.
34m ago
Bloomberg
IBM Sales Decline Across All Units, Sending Shares Tumbling
(Bloomberg) -- International Business Machines Corp. reported quarterly revenue that missed analysts’ estimates, signaling Chief Executive Officer Arvind Krishna’s turnaround plan will take more time to pan out.Sales fell 6.5% to $20.4 billion in the three months ended Dec. 31, the Armonk, New York-based company said Thursday in a statement. That was below the $20.75 billion analysts had forecast, on average, and marked the 10th consecutive quarter with no year-over-year increase in revenue. The shares fell in extended trading.Last October, Krishna announced he would spin off IBM’s managed infrastructure services unit into a separate publicly traded company. The division, which is currently part of IBM’s Global Technology Services division, handles day-to-day infrastructure service operations, like managing client data centers and traditional information-technology support for installing, repairing and operating equipment. While the unit accounts for about a quarter of IBM’s sales and staff, it has seen business shrink as customers embraced the shift to the cloud, and many clients delayed infrastructure upgrades during the pandemic. The spinoff is scheduled to be completed by end of 2021.Revenue declined across IBM’s business segments in the fourth quarter. Cloud and Cognitive Software, IBM’s biggest unit, saw revenue decrease 4.5% from a year earlier. That follows a 7% gain in that unit in the third quarter. Total cloud revenue increased 10% to $7.5 billion. While that was the most revenue from cloud yet for IBM, it was a slower pace of growth than the 19% gain in the previous quarter. In Global Technology Services, revenue fell 5.5% while sales from Global Business Services dropped 2.6%. Systems, which includes hardware and operating systems software, saw sales decline 18%.Krishna said the company’s actions to focus on cloud and artificial intelligence “will take hold,” and give him “confidence we can achieve revenue growth in 2021.” The company hasn’t given specific financial forecasts since it withdrew its annual projection for 2020 in April.IBM fell about 6% in extended trading after closing at $131.65 in New York. The stock has declined about 5% over the past 12 months.“It’s more or less a reflection of the difficult spot they’re in,” in trying to restructure the business, said Daniel Elman, an analyst at Nucleus Research.IBM seeks to distinguish itself from its bigger rivals in cloud, such as Amazon.com Inc. and Microsoft Corp., by offering a hybrid model, which assists clients in storing and computing data across on-premises infrastructure, private cloud services and servers run by public providers. Krishna was the driving force behind IBM’s $34 billion purchase of open source software provider Red Hat in 2018, the first step toward transitioning IBM into what it sees as a $1 trillion hybrid-cloud market, and which now leads much of the company’s growth. Red Hat revenue increased 19% in the fourth quarter to $1.3 billion.IBM continues to make acquisitions to bolster its cloud credentials. The company has made seven acquisitions focused on cloud and AI since October, Chief Financial Officer James Kavanaugh said in the statement, including Taos Mountain LLC, a firm that helps companies shift software and data online, and Instana, which manages cloud applications.Fourth-quarter earnings excluding some costs were $2.07 a share, beating the average analyst estimate of $1.79. Gross margin was 52.5%, 1.3 percentage points higher than analysts’ expected.(A previous version of this story corrected the spelling of the CEO’s name in first 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.
5m ago
Reuters
IBM misses quarterly sales estimates, shares fall
The 109-year old firm is preparing to split itself into two public companies, with the namesake firm enhancing its focus on the so-called hybrid cloud, where it sees a $1 trillion market opportunity. IBM beat profit estimates on the back of strong growth in its cloud business, and said it is confident of returning to sales growth in 2021. That was not enough to convince traders, however, as the company's shares dropped nearly 4% after the bell following IBM's fourth consecutive quarter of sales decline.
1h ago
Investopedia
How Is Your 401(k) Taxed When You Retire?
The taxes you owe on your 401(k) distributions at retirement depend in large part on whether your funds are in a traditional 401(k) or a Roth 401(k).
3h ago
Yahoo Finance
Tesla isn't the only auto stock exploding right now
Other auto stocks joins in the impressive rally in Tesla's stock. Here's why.
8h ago
Reuters
Big U.S. oil drillers have federal permits to mute effect of any Biden ban
U.S. President Joe Biden's promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have stockpiled permits, according to Reuters interviews with executives. But smaller independent oil drillers without the resources of big corporations were more worried about Biden's vow to toughen regulations and stop issuing new permits on federal lands, part of his sweeping plan to combat climate change and bring the economy to net zero emissions by 2050. Federal lands are the source of about 10% of U.S. oil and gas supply.
9h ago
Bloomberg
Intel Gives Upbeat Forecast on PC Demand; Shares Jump
(Bloomberg) -- Intel Corp. gave an upbeat forecast for the current quarter on continued demand for personal computers that enable working and studying from home.The results, released before the market closed on Thursday, sent the shares higher in New York. The stock then dipped slightly in extended trading. Revenue in the period ending in March will be about $17.5 billion, the Santa Clara, California-based company said. This excludes the memory chip division Intel is selling. Analysts were looking for $16.2 billion on average, according to data compiled by Bloomberg.Intel sees strong demand for laptops through the first half of the year, Chief Financial Officer George Davis said in an interview. Earnings in the second part of the year will partly depend on whether corporations increase spending on new hardware, he added.“The question is will we see support from enterprise,” he said. “They’ve been very quiet.”The world’s largest chipmaker shared no new details about its manufacturing plans in its earnings statement on Thursday. The company will address this during a conference call with analysts later on Thursday. Investors have been waiting to see if Intel will outsource more production.Intel recently decided to replace Chief Executive Officer Bob Swan with Pat Gelsinger, a former insider who left in 2009 after decades at the company. It made the change after falling behind in manufacturing, a lapse that’s offering rivals the chance to make better chips for the first time in more than a decade.Read more: Intel Goes Back to Roots With Gelsinger to Regain Chip LeadSwan was due to announce a plan on Thursday to outsource more manufacturing to other companies or try to reclaim Intel’s leadership in production technology. Gelsinger takes over officially on Feb. 15 and he is taking more time to devise his own strategy.“Longer term, it goes beyond the make-vs.-buy decision,” Ambrish Srivastava, an analyst at BMO Capital Markets, said in a note published before Intel earnings. ‘’What we are looking for is how Intel addresses what appear to be recurring issues it has had on that front. For that, we will likely have to wait to hear from the new CEO.”Intel’s stock rose 6.5% to close at $62.46 in New York. The shares declined 17% in 2020 but have rebounded following Gelsinger’s appointment.While Intel is currently benefiting from strong PC demand, Gelsinger is taking the reins of a company in the midst of its worst crisis in at least a decade. It has been the largest chipmaker for most of the past 30 years dominating the $400 billion industry by making the best designs in its own cutting-edge factories. Most other U.S. chip companies shut or sold plants and tapped other firms to make the components. Intel held out, arguing that doing both improved each side of its operations and created better semiconductors.That strategy has crumbled in recent years as Intel struggled to introduce new production techniques on time. It is now lagging behind Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co., which make chips for Intel’s competitors. Intel has had talks with both Asian companies about producing some of its leading products, Bloomberg reported earlier this year.Intel’s personal computer chip division had revenue of $10.9 billion in the fourth quarter. Analysts expected $9.72 billion. Its higher-margin data center unit generated sales of $6.1 billion. Wall Street was looking for $5.37 billion.In Intel’s data center business, revenue from cloud service providers fell 15% from a year earlier. Enterprise and government sales slumped 25%. Volumes and average selling prices declined. Owners of large data centers are working their way through unused stockpiles of chips.In its PC business, Intel reported a 30% surge in laptop chip sales, even as average selling prices declined 15%.Fourth-quarter profit, excluding some items, was $1.52 a share on $20 billion of revenue, down 1% from a year earlier. Analysts had estimated $1.11 a share on revenue of $17.5 billion.Intel’s gross margin, the percentage of revenue remaining after deducting the cost of production, was 56.8%. This is a key indicator of the strength of its manufacturing and product pricing. Intel has historically delivered margins of about 60%.(Updates with CFO comments in fourth 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.
53m ago
Investor's Business Daily
Apple Stock Surging Ahead Of Possible Record Holiday Quarter
Wall Street analysts are pounding the table for Apple stock ahead of the company's December-quarter earnings report next week. Apple stock is nearing a new buy point, chart analysis shows.
1h ago
Barrons.com
IBM Beat Earnings Expectations. Why Its Stock Is Tumbling.
IBM projects full-year 2021 adjusted cash flow between $11 billion and $12 billion, up from $10.8 billion in 2020, and between $12 billion and $13 billion in 2022.
22m ago

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Top Ranked Income Stocks to Buy for July 2nd

Latest Stories

Powerball winner in Maryland should remember this before cashing the $730 million ticket: expert

Chipmaker Intel Beats Fourth-Quarter Targets, Raises Outlook, Hikes Dividend

Column: What happens to businesses when their CEOs become extremists?

David Einhorn — Notorious Tesla Short Seller — Just Had His Best Quarter Ever

PreMarket Prep Stock Of The Day: Eastman Kodak

The Biden Boom Is Coming And These Stocks Could Soar

If I inherit a Roth IRA, are the distributions taxed?

Jim Cramer: Here Are the Biden Stocks

Dave Ramsey says these are 10 reasons you're not getting ahead

BlackRock raises dividend by 14%, with first new payout in March

Your next stimulus check — for $1,400 — is about to start moving closer

IBM Stock Falls As Fourth-Quarter Revenue Continues To Slide

IBM Sales Decline Across All Units, Sending Shares Tumbling

IBM misses quarterly sales estimates, shares fall

How Is Your 401(k) Taxed When You Retire?

Tesla isn't the only auto stock exploding right now

Big U.S. oil drillers have federal permits to mute effect of any Biden ban

Intel Gives Upbeat Forecast on PC Demand; Shares Jump

Apple Stock Surging Ahead Of Possible Record Holiday Quarter

IBM Beat Earnings Expectations. Why Its Stock Is Tumbling.