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USHCC names Sen. John Cornyn Legislator of the Year 2017 at Legislative Summit

WASHINGTON, DC--(Marketwired - March 07, 2017) - The United States Hispanic Chamber of Commerce (USHCC) is proud to name Senate Majority Whip John Cornyn Legislator of the Year in 2017.

"From John's days on the Texas Supreme Court, to his days as Attorney General of Texas and representing the state of Texas in the United States Senate, he has served with honor and distinction," said Javier Palomarez, President & CEO of the USHCC.

As the American people's patience with Washington wanes, Senator Cornyn keeps building on his consistent track record of progress. A record that continues to earn him the strong bipartisan support of Texans.

As Majority Whip, Senator Cornyn has helped push through legislation rarely recognized by the American people. To name a couple of recent legislative accomplishments, Senator Cornyn helped guide major energy reform bills like the Energy Policy Modernization Act. A bill that is going to help bring our nation's energy infrastructure up to date. In the heat of an election year he worked to get critical funding dollars for Zika research and prevention done.

Through his efforts in Washington he's led the way on tax reforms and remained focused on an economic growth agenda which benefits American communities everywhere. A true ally of the USHCC, Senator Cornyn understands the concerns of our members and the community this organization represents. He has proven to be a trustworthy friend in congress fighting for the interests of the Hispanic community and supporting free enterprise across the board.

It is for these reasons and many more that the USHCC is proud to name Senator Cornyn our 2017 Legislator of the Year.

About the USHCC

The USHCC actively promotes the economic growth, development and interests of more than 4.2 million Hispanic-owned businesses that, combined, contribute over $668 billion to the American economy every year. It also advocates on behalf of 260 major American corporations and serves as the umbrella organization for more than 200 local chambers and business associations nationwide. For more information, visit ushcc.com. Follow the USHCC on Twitter @USHCC.

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  • Oracle Moves Headquarters to Texas, Joining Valley Exodus

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It’s just one of a number of companies, executives and employees that are ditching California because of concerns over the state’s tax rates and high costs, as well as arduous commutes in some locales.Oracle’s shift of resources away from California dates at least to 2018, led by Executive Chairman Larry Ellison and the late co-Chief Executive Officer Mark Hurd. That year, Oracle opened a campus in Austin, featuring an on-site apartment building for employees, in an effort to recruit a younger and less costly workforce. The campus could eventually host 10,000 staffers, Oracle said at the time. The company also said last year that its largest annual conference, OpenWorld, would depart its traditional home, San Francisco, in favor of Las Vegas.The world’s second-largest software maker had grown increasingly out of step with its home state. Ellison, the 11th wealthiest person in the world, and Chief Executive Officer Safra Catz have been major supporters of outgoing Republican President Donald Trump, who lost reliably Democratic California in his re-election bid this year. The company has also become a sharp critic of the internet companies that now define the modern Silicon Valley, particularly its longtime foe Google, owned by Alphabet Inc. Texas Governor Greg Abbott welcomed Oracle in a tweet reacting to the news.The move comes amid Oracle’s drive to shed costs during a transition from traditional software to cloud computing, which has resulted in declining revenue for two fiscal years. The company said Thursday it expects sales to grow 2% to 4% in the period that ends in February, which puts Oracle on track to snap that downward streak and increase revenue in the current fiscal year.The software giant, which provides databases, business applications and cloud services, has spent more than a decade trying to revamp its product line and business model to keep up with much younger rivals born in the internet age, including Google and Amazon.com Inc.Started in 1977, Oracle has been a foundational company in Silicon Valley and its silver-blue cylindrical buildings in Redwood City, visible from U.S. Highway 101, are the rare landmark in the otherwise sprawling region. It follows other tech innovators in de-emphasizing their California roots. Server maker Hewlett Packard Enterprise Co. said Dec. 1 that it would move headquarters to a Houston suburb, where it is building a new campus. Palantir Technologies Inc. has relocated to Denver this year, from Palo Alto, California.Tesla Inc. co-founder Elon Musk said this week that he’s moved to Texas to focus on big projects under way for Tesla as well as Space Exploration Technologies Corp., which he also runs. He previously moved his private foundation, which was based in California, to Austin. Moving carries enormous tax implications for high net worth individuals. Texas has no personal income tax, while California imposes the highest personal income levies in the nation on its richest residents.“Wow,” said Erik Hallgrimson, vice chairman with brokerage Cushman & Wakefield in Silicon Valley, upon learning of Oracle’s action. “You’re really seeing a lot of corporate movement out of the state.”Oracle’s decision just goes to show how much taxes and public policy can have an impact on corporate decision making, Hallgrimson added.Even as companies look to leave California, it’s still a place that fosters innovative companies, said Phil Mahoney, executive vice chairman at commercial real estate brokerage Newmark, who has worked in Silicon Valley for more than three decades. Many firms that decamp still maintain a presence in the state, he said, and some of the qualities that make it a good place to start and grow a business -- from world class universities to great weather --haven’t changed.“There’s no birthright that says Silicon Valley has to get all the great tech companies,” Mahoney said in an interview before Oracle’s announcement. “But it does have a special sauce that no other place has been able to replicate.”(Updates with more details beginning in the fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • 3 ‘Strong Buy’ Stocks with Over 7% Dividend Yield

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Even better, these stocks are seen as Strong Buys by Wall Street’s analysts. Let’s find out why.Energy Transfer LP (ET)First up is Energy Transfer, a major name in North America’s hydrocarbon midstream sector. The company’s primary network of assets covers 38 states and links three major oil and gas production regions – in the Midwest-Appalachian and Texas-Oklahoma-Louisiana regions, along with North Dakota. Energy Transfer has smaller assets in the Colorado Rockies, Florida, and northern Alberta. These assets include pipelines, terminals, and storage tanks for natural gas and crude oil. The value of ET’s services is clear from the company’s $18 billion market cap and $54 billion in annual revenues.That value, along with the effects of the health and economic crises of 2020, are also clear from the company’s recent third quarter earnings release. On the negative side, revenues were down 26% from the year-ago quarter, while EPS was down 18%. In absolute numbers, the top line came in at $9.96 million while the bottom line was reported at 30 cents per share. Both figures beat the forecasts by a wide margin.Beating the forecasts was a positive note. On another, the company reported $400 million in cost savings year-to-date, due to initiatives to control and streamline expenses. Total debt long-term debt remained stable at $54 million.In an announcement at the end of October, Energy Transfer declared its Q3 dividend, at 15.25 cents per common share. This was a 50% reduction from previous payments, and implemented for several reasons. Chief among those reasons is releasing cash for debt reduction. The dividend reduction also keeps the dividend yield in line with historical values (with the shares down this year, the yield was artificially inflated), and affordable at current income levels. The new dividend payment annualizes to 61 cents per common share, and – even after the reduction – gives a high yield of 8.8%.Covering the stock for Raymond James, analyst Justin Jenkins noted, “We still see ET's top-tier integrated midstream footprint as a big positive, but risks are high and will remain so. Ultimately, we believe the core business and long-term free cash flow generation (which will improve dramatically in 2021) will help ET differentiate itself within the midstream space… ET's large valuation discount to peers is unlikely to completely narrow in the near-term, we see the risk/reward as skewing positive in most scenarios.”In line with these comments, Jenkins rates ET a Strong Buy, and his $9 price target suggests it has room for 26% growth in the year ahead. (To watch Jenkins’ track record, click here)Wall Street appears to be in broad agreement with Jenkins, as ET shares maintain a Strong Buy rating from the analyst consensus. There have been 8 recent reviews, including 7 Buys and a single Hold. The stock’s $9.29 average price target is slightly more bullish than the Raymond James position, implying ~31% upside potential from the $7.09 trading price. (See ET stock analysis on TipRanks)Omega Healthcare (OHI)REITs are frequently known for high-yielding dividends, as tax regulations require these companies to return a minimum percentage of profits back to investors. Omega Healthcare, a real estate investment trust, is no different from its peers in that regard, but it does offer investors a twist. The company’s portfolio consists of skilled nursing facilities and senior housing facilities, in an 83% to 17% split. The portfolio is valued at more than $10 billion. It totals 957 facilities in 40 states plus the UK.At the top line, Omega reported declines in Q3 revenues. The $119 million reported was down 53% sequentially and 16% year-over-year. That was the bad news. Adjusted funds from operations (FFO), a common metric used to judge REITs’ income levels, beat the forecast by 5%, coming in at 82 cents per share. In other positive notes this year, Omega has reported collected 99% of rents due in each quarter of 2020, and successfully issued, this past October, $700 million in Senior Notes at 3.375% and due in 2031. The company aims to use the funds raised to, first, repay existing debt, and second, to cover general operations.Omega currently pays out a 67-cent dividend per common share, and as held that payment steady for nearly three years. The company has a 6-year history of reliable dividend payments. The annualized payment is $2.68 per common share, making the yield 7.1%. This company’s performance, including the reliable dividend, prompted JMP analyst Aaron Hecht to rate OHI an Outperform (i.e. Buy). His $43 price target indicates a 14% upside over the next 12 months. (To watch Hecht’s track record, click here)Backing his stance, Hecht writes, “We believe COVID-19 vaccine deliveries will begin to arrive within the next two weeks and skilled nursing facility residents will be prioritized, based on vulnerability. We view this as a major positive for OHI as the largest owner of skilled nursing facilities in the United States. Although OHI’s tenants have generally performed well during the pandemic, an increase in demand would be a derisking event… We believe OHI deserves a slight premium to its three-year, pre-pandemic comps given demand tailwinds. We are buyers of the stock…” In the meantime, OHI has a Strong Buy rating from the analyst consensus, based on 8 reviews breaking down to 6 Buys and 2 Holds. Omega’s share price has risen 28% since the first week of November, in the wake of the Q3 earnings. This has pushed the stock’s trading price, currently $37.69, slightly above the $36.88 average price target. (See OHI stock analysis on TipRanks)Owl Rock Capital Corporation (ORCC)Last but not least is Owl Rock Capital, a specialty finance company based in New York. Owl Rock works in the middle-market finance sector, offering access to capital for mid-market companies to make acquisitions, fund operations, and conduct recapitalizations. The company’s portfolio boasts $10.2 billion in total assets, of which 97% are senior secured assets. Owl Rock has current investments in 110 companies.Owl Rock’s third quarter earnings came in slightly below expectations. EPS was 33 cents per share, down 3% sequentially and missing the estimates by 2 cents. Net asset value per share increased 1% quarter-over-quarter, from $14.52 at the end of June to $14.67 at the end of September. In a move to shore up liquidity, Owl Rock priced a public offering of $1 billion in 3.4% notes in the first week of December. The issue is due in 2026, and provides funds to paydown existing debt in the revolving credit facility and to fund general operations.Also in the first week of this month, Owl Creek confirmed that it is discussions to acquire Dyal Capital. The move would combine Owl Creek’s direct lending platform with Dyal’s access to capital solutions.Owl Creek has a regular share dividend payment of 31 cents quarterly, which has been supplemented since May 2019 by a series of 6 special 8-cent dividend payments. Calculating the yield by the regular dividend, we find it at 9.6%, based on an annualized rate of $1.24 per common share. For comparison, the average dividend among S&P-listed companies stands at 2%.The review here was written by Devin Ryan, 5-star analyst with JMP Securities. Focusing on the Dyal Capital announcement, Ryan noted, “While it is important to distinguish that this merger is between the management companies, not the BDC directly, and ultimately we do not expect much change, we do think a transaction could represent a positive outcome for ORCC shareholders over time.""We continue to view the opportunity in ORCC shares as attractive due to: 1) strong credit performance and expectations; 2) a well-positioned balance sheet; 3) the earnings scale-up as leverage moves to the target 1.0x by 2H21; and 4) an increase in the yield profile of the portfolio through a higher mix of unitranche loans," the analyst concluded. To this end, Ryan rates Owl Creek’s shares an Outperform (i.e. Buy), and his $14.50 price target suggests a 13% upside in the coming year. (To watch Ryan’s track record, click here)Owl Creek’s Strong Buy consensus rating is based on 6 reviews. These show a 5 to 1 split between Buys and Holds. ORCC is trading at $12.78, and its $13.90 average price target implies ~9% upside. (See ORCC 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.

  • 15 of the Best Dividend Stocks to Buy for 2021

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  • What Warren Buffett Says About High-Profile IPOs Like Airbnb, DoorDash

    Big-name IPOs DoorDash Inc (NYSE: DASH) and Airbnb, Inc. (NASDAQ: ABNB) got off to volatile starts on the market this week. Some investors believe these two growth stocks are just getting started, while others are skeptical of the stocks' massive valuations.Buffett On Uber: Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) CEO and legendary Wall Street investor Warren Buffett hasn't weighed in on DoorDash and Airbnb specifically, but he spoke about another high-profile IPO in Uber Technologies Inc (NYSE: UBER) back in 2019."In 54 years, I don't think Berkshire has ever bought a new issue," Buffett told CNBC."The idea of saying the best place in the world I could put my money is something where all the selling incentives are there, commissions are higher, the animal spirits are rising, that that's going to better than 1,000 other things I could buy where there is no similar enthusiasm ... just doesn't make any sense."Related Link: Why It's Unlikely Warren Buffett Is Actually Investing In SnowflakeResist The FOMO: The fear of missing out on a popular IPO can cloud investors' judgement, leading them to make poor investment decisions, Buffett has said.Berkshire made headlines by investing in the IPO of Snowflake Inc (NYSE: SNOW) earlier this year.Most Buffett followers believe Berkshire portfolio managers Todd Combs or Ted Weschler -- not Buffett himself -- were responsible for the Snowflake buy.So far, the DoorDash and Airbnb IPOs have been tremendous successes, but Buffett also has some advice for investors who missed the chance to get in cheap.Just because an investment happens to work out for others doesn't mean it was a smart investment."You don't have to really worry about what's really going on in IPOs. People win lotteries every day, but there's no reason to let that affect [your investing strategy] at all," Buffett said back in 2016."You don't want to get into a stupid game just because it's available."Benzinga's Take: DoorDash and Airbnb are both tremendously successful and popular companies. But just because you know and love a product or service doesn't mean the company's stock makes for a good investment at any price.Latest Ratings for ABNB DateFirmActionFromTo Dec 2020BTIGInitiates Coverage OnNeutral Dec 2020Atlantic EquitiesInitiates Coverage OnOverweight View More Analyst Ratings for ABNB View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * How Airbnb's Valuation Compares To The Existing Hotel Industry(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • From Elon Musk to Oracle — the coronavirus accelerates California exodus

    The coronavirus is accelerating a significant tech exodus out of California, with Oracle (ORCL) announcing Friday that it has moved its headquarters from Redwood City to Austin, Texas on Friday. The move came just days after Tesla (TSLA) CEO Elon Musk announced he’d be moving from Los Angeles to Austin.

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  • 2 Stocks That Are Flirting With a Bottom; Analysts Say ‘Buy’

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They’ve been getting positive reviews, and despite their share depreciation, they hold Buy ratings and show upwards of 60% upside potential.Digital Media Solutions (DMS)We will start with Digital Media Solutions, an adtech company which connects online advertisers with customers through performance-based branding and marketplace solutions. DMS boasts a powerful consumer intelligence database, which it uses to fine-tune customer acquisition campaigns – while offering advertisers accountability for the project budget.DMS went public in July of this year, via a merger with a special purpose acquisition company, Leo Holdings. The combination took the DMS name for the ticker, and initiated trading at $10 per share. The stock has been volatile since, and is currently down 27% since it started trading.Digital advertising is a huge – and growing – sector, worth $100 billion in 2019 and expected to reach $130 billion by the end of next year. DMS has a solid piece of that cash cow, and the Q3 numbers demonstrate that. Quarterly revenue hit a company record, of $82.8 million, which was up 10% sequentially and 44% year-over-year. Of that total revenue, the company saw a gross profit of $25.1 million, for a 30% gross margin. All in all, DMS’s first quarter as a publicly traded company showed strong results.Covering the stock for Canaccord is analyst Maria Ripps, who is rated 5 stars by TipRanks, and stands in the top 1% out of more than 7,100 stock analysts. “The company saw meaningful volume growth from both new and existing clients, with particular strength from its auto insurance business along with the eCommerce, education, and non-profit verticals… We continue to think investors will gradually come to appreciate DMS’ similarities with other leading digital marketing peers that trade at more premium valuations, and expect multiple expansion over time as the story becomes better understood,” Ripps noted.To this end, Ripps rates DMS stock a Buy, and her $15 price target suggests an upside of 106% from the current share price of $7.20. (To watch Ripps’ track record, click here)Overall, DMS’ Moderate Buy consensus rating is based on 2 recent reviews, both positive. The stock has an average price target of $14, which indicates a 92% upside potential. (See DMS stock analysis on TipRanks)ViaSat, Inc. (VSAT)From digital advertising we move on to digital networking. ViaSat provides customers with high-speed broadband access through a secure satellite network system. The company serves both military and commercial markets, meeting the growing need for secure communications links.The anti-coronavirus shutdown policies have particularly hard on ViaSat. This may sound counterintuitive, as online networking has been busier than ever, but a large segment of ViaSat’s business comes from the airlines, and with air travel first grounded and still facing depressed travel volumes, ViaSat’s shares have yet to recover from their February/March swoon.On a positive note – and one that is indicative of the essential nature of secure satellite communications in today’s networked economy – ViaSat reported $577 million in Q3 contract awards, representing a 29% yoy gain. For the year to date, the company has seen awards totaling $1.9 billion, which is up 5% from this time last year. The third quarter (the company’s fiscal Q2) revenues and earnings were somewhat mixed, reflecting both the increase in contract awards and the decline in airline business. Revenues were $554 million, down 6% yoy, but up almost 4% sequentially. EPS was 3 cents per share, beating the predicted 5 cent loss by a wide margin.JPMorgan analyst Philip Cusick writes of ViaSat: “[We] believe long-term growth levers remain intact highlighted by record segment backlog of $1.1b… We view ViaSat as a satellite innovation leader and believe the company’s future ViaSat-3 fleet will accelerate growth in satellite services over the coming years. At the same time, we see a long-term government systems tailwind driven by the company’s radio portfolio, mobile broadband, and SATCOM.”In line with his bullish comments, Cusick rates VSAT shares an Overweight (i.e. Buy), and his $60 price target implies ~72% upside on the one-year time horizon. (To watch Cusick’s track record, click here)Overall, the stock has 5 recent reviews, including 3 Buys and 2 Holds. Shares are priced at $34.14, and the average price target of $55 suggests a 61% upside potential from that level. (See VSAT stock analysis on 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.

  • Cramer Says Time To Take Profit In These Electric Vehicle SPAC Stocks

    Jim Cramer recommended Thursday that investors trim their exposure to auto-related special purpose acquisition company stocks, CNBC reported.What Happened: The host of the CNBC "Mad Money" show termed the stocks of QuantumScape Corporation (NYSE: QS), Luminar Technologies Inc (NASDAQ: LAZR), and SPACs of Arrival and Canoo as speculative."These stocks have gotten out of control, so I'm begging you to take something off the table," urged the former hedge fund manager.Cramer asked investors to be responsible speculators. "Speculative stocks can get overheated, which is why it's important to take profits while you have them," he advised.Why It Matters: The former hedge fund manager has endorsed the four electric vehicle startups which are taking the SPAC route since October, noted CNBC.He recommended the Bill Gates and Volkswagen AG (OTC: VWAGY)-backed QuantumScape in late October, which merged with Kensington Capital to go public.A week ago he recommended Luminar and said the stock was a Buy at $15. The autonomous vehicle sensor company went public through a SPAC earlier this month. United Parcel Service, Inc (NYSE: UPS)-backed Arrival, a U.K.-based EV maker specializing in microfactories, plans to go public through a merger with CIIG Merger Corp (NASDAQ: CIIC). Cramer had recommended the SPAC stock last week at $17.50.Cramer also recommended Canoo Holdings Ltd, a California-based EV startup, set to merge with Hennessy Capital Acquisition Corp IV (NASDAQ: HCAC). The stock was termed a Buy by Cramer last Friday at $15.64."You can always get back in at lower levels, and I'm very confident that lower prices could be in the cards," Cramer recommends to investors.Price Action: On Thursday, QuantumScape shares closed 1.96% higher at $76.61. Luminar Technologies shares closed 7.45% lower at $34.17 extending the fall in the after-hours session by almost 7% to $31.78.CIIG Merger shares fell 1.63% to $31.38 in the regular session. On the same day, Hennessy Capital shares closed 10% higher at $22 and fell 6.82% to $20.50 in the after-hours session.Click here to check out Benzinga's EV Hub for the latest electric vehicles news.See more from Benzinga * Click here for options trades from Benzinga * Cramer Says This EV Startup Has The 'Best Claim To Be The Son Of Tesla,' Gives Blessing To Buy SPAC Stock(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Oppenheimer Says These 2 Stocks Could Spike Over 100%

    Markets have been turning mostly up since the election, as investors have taken the measure of the macro environment and appear pleased. There is some expectation that political matters may settle down, allowing government, public health officials, and the business world to focus on beating the next wave of the coronavirus pandemic.The big news on that front, of course, came from Pharma giants Pfizer and Moderna, which have both announced success in trial phases of COVID vaccines, and are currently on the cusp of gaining emergency use authorization (EUA). The prospect of an early vaccine is bullish for the markets, and has investors looking forward.Oppenheimer’s Chief Investment Strategist John Stoltzfus, looking at the market’s big picture, wrote recently, “In the week ahead investors will have plenty to ponder. We’d expect they are likely to continue to seek out segments of the equity market poised to benefit from a post-Covid environment…”Post-COVID thinking will have some immediate impact on investment decisions, notably the willingness to shoulder higher risk. Stoltzfus points out that willingness, too, along with its effect on the market, describing, “evidence of the appeal of riskier assets [that] carried the S&P 500 and the Russell 2000 to new record highs...”Taking Stoltzfus’ outlook into consideration, we wanted to take a closer look at two stocks earning a round of applause from Oppenheimer, with the firm’s analysts forecasting over 100% upside potential for each.Recro Pharma (REPH)Recro Pharma inhabits a specialty niche in the pharmaceutical world, as a contract development and manufacturing organization (CDMO). The company offers top-of-the-line manufacturing facilities to larger pharmaceutical researchers, allowing those firms to concentrate on finding and testing new drugs – while Recro handles serial manufacturing for approved medications. Recro focuses on controlled substances and modified release formulations, and boasts a manufacturing facility covering more than 120,000 square.Recro’s growth and market position based on a combination of new contracts and key partnerships with major pharma distributors. In this connection, the company’s manufacturing and distribution agreement with Teva, which is well known in the generic drug market, is vital. It gives Recro a solid position as the manufacturer of Verapamil SR, an effective agent against migraines and cluster headaches, which has over 4 million prescriptions.In addition to the agreement with Teva, Recro also manufactures Verapamil – and its synonymous cognate, Verelan – for Lannett, another major name in generic pharmaceuticals. The company scored an important coup last month when it renewed its Lannett agreement into 2023.With shares changing hands for $2.13 apiece, Oppenheimer analyst Leland Gershell sees Recro in a sound position for future growth.“[Recro’s] business development update signaled a resumption of prior momentum across all service divisions. REPH continues to expand into new CDMO initiatives, three-year extension recently signed w/Lannett, and debt favorably restructured. We expect REPH's return to a consistent growth trajectory to solidify in coming quarters,” Gershell noted.In light of his upbeat view, Gershell rates REPH an Outperform (i.e. Buy), along with a $10 price target. Should his thesis play out, a potential gain of 369% could be in the cards. (To watch Gershell’s track record, click here)Overall, REPH holds a Moderate Buy rating from the analyst consensus, based on 2 recent Buy ratings. With a return potential of ~217%, the stock’s consensus target price stands at $6.75. (See REPH stock analysis on TipRanks)Homology Medicines (FIXX)Homology Medicines works on the research and creation of new genetic medicines. The company uses gene editing and gene therapy as the basis for treating disease caused by genetic mutations. Homology’s technology, using human hematopoietic stem cell derived adeno-associated virus vectors, aims to treat these diseases through gene correction and insertion.Along with its recent third quarter earnings, Homology also announced a $60 million investment from Pfizer. This was a strategic investment on Pfizer’s part, and includes the larger company purchasing 5 million shares of FIXX. The announcement helped to stabilize Homology’s stock value after the Q3 net loss of 62 cents per share. Under the agreement, Pfizer purchased 5 million common shares of FIXX at a set price of $12 each.Coinciding with the Pfizer agreement, Homology also announced that it will be progressing with the pheNIX gene therapy clinical trial for PKU treatment in adults. The new phase will include dose expansion, and comes after early trials showed that the drug candidate, HMI-102, was well tolerated by patients and positively affected the Phe/Tyr ratio at two doses. Moving to the next step, Homology will be conducting randomized concurrently controlled trials.Oppenheimer analyst Matthew Biegler noted Pfizer’s cash investment into Homology, and its importance as a vote of confidence. The analyst wrote, “Proceeds from the investment will be used in further development of Homology’s phenylketonuria (PKU) gene therapy franchise, which includes HMI-102 and as well as its preclinical in vivo gene editing program, HMI-103. We believe Pfizer’s decision was spurred by updated clinical data from the PheNIX trial of HMI-102 presented last week, which showed encouraging signs of phenylalanine (Phe) reduction in two PKU patients. Homology plans to advance the trial into dose expansion cohorts in early 2021.”Biegler is optimistic on Homology, as is clear from his $27 price target. At the current share price of $10.17, that target suggests an upside of 165% and fully supports his Outperform (i.e. Buy) rating. (To watch Biegler’s track record, click here)Other analysts are on the same page. With 3 Buys received in the last three months, the word on the Street is that FIXX is a Strong Buy. On top of this, the $29.50 average price target brings the potential twelve-month gain to 190%.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 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.

  • Will Microsoft's Stock Reach $300 By 2022?

    Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We surveyed a group of over 300 investors on whether shares of Microsoft Corporation (NASDAQ: MSFT) will reach $300 by 2022.Microsoft shares were trading at $212 at the time of publication Friday, up from the 52-week low of $133. Microsoft Stock Forecast Microsoft develops and licenses consumer and enterprise software. It is known for its Windows operating systems and Office productivity suite. The company is organized into three overarching segments: productivity and business processes (Microsoft Office, cloud-based Office 365, Exchange, SharePoint, Skype, LinkedIn, Dynamics); intelligence cloud (infrastructure- and platform-as-a-service offerings Azure, Windows Server OS, SQL Server); and more personal computing (Windows Client, Xbox, Bing search, display advertising, Surface laptops, tablets and desktops). Our survey found 68% of respondents said shares of Microsoft would reach $300 over the next year.Many respondents pointed to steps Microsoft has made to improve their landscape of software-as-a-service offerings for 2020 and beyond. The SaaS market is one of the sectors that has managed to flourish during the pandemic. The rise in cloud-based software adoption by businesses during the digital transition has been a catalyst for SaaS stocks like Microsoft in 2020.Among new SaaS offerings from the company, on Sept. 22 we reported Microsoft had launched Azure Communications Services, composed of cloud-based voice and video calling, chat and telephony features. Benzinga has been breaking actionable financial news and curating high-quality financial data sets since 2009. Learn more today about receiving stock and market data through APIs. This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 300 adults.See more from Benzinga * Click here for options trades from Benzinga * Will Tesla's Stock Reach ,000 (Again) By 2022? * Will Boeing's Stock Reach 0 By 2022?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • A Letter From 9 Million U.S. Expats to Janet Yellen

    (Bloomberg Opinion) -- Dear Janet Yellen: Congratulations! You’re probably the next Treasury secretary of the U.S. That’ll throw you into daunting policy cauldrons — from financing America’s massive deficits to managing China and taming the tax code. With so much in your inbox, we urge you not to forget about one large group of Americans: us.We’re U.S. expats, and there are 9 million of us. If we were a state, we’d be the eleventh-largest. And we’re suffering from a problem that you can fix.We ended up abroad because we got a job in Canada, married someone in France or retired in New Zealand. For others among us, “abroad” is actually home, because we’re “accidental Americans” — we were born in the U.S. but never lived there.No matter how we ended up with U.S. passports, all of us are subject to American taxation, as well as annual bank and asset reporting requirements so onerous and complex that many experts don’t fully understand them. And that’s just the start of our troubles, as we’ve tried to explain before.The U.S. is the only country in the world that practices citizenship-based taxation. All other nations tax individuals based on their residence. OK, Eritrea also taxes its diaspora, but that’s not exactly the same thing.We certainly don’t live abroad to avoid taxes. After all, we already pay tax in our countries of residence, which tend to have higher rates than the U.S. We can take these foreign taxes as a credit on our U.S. returns, so most of us never owe anything to the Internal Revenue Service. But that makes the huge compliance burdens, and the Draconian penalties for innocent mistakes, all the more unnecessary.Many of us can’t lead normal financial lives because we’re snared in two incompatible tax systems simultaneously. We can’t invest or save for retirement like our neighbors or other Americans because either the U.S. or our country of residence won’t recognize the other nation’s financial products and rules. We can’t even open bank or brokerage accounts, because financial institutions won’t take us.Many of us escape by renouncing our U.S. citizenship. But the U.S. has been making that more expensive and difficult in recent years. And most of us would hate to give up our nationality anyway.If we had representation in Congress as a bloc, this problem would have been solved long ago. But we don’t. Instead, we vote in the U.S. state where we lived most recently. And our representatives and senators don’t think listening to our concerns can help them get re-elected. So while a legislative fix is our preferred option, we’re not holding our breaths.That’s where you come in. As Treasury secretary, you will oversee the two bureaus to which we expats must file reports, the IRS and the Financial Crimes Enforcement Network (doesn’t that name say it all).There are simple tweaks you could make that would cost the U.S. nothing in lost revenue, save you a packet in enforcement expense and make our lives easier. The options are laid out in an essay I commend to everyone on your staff: “A Simple Regulatory Fix for Citizenship Taxation,” by John Richardson, Karen Alpert and Laura Snyder.One option is to change the rules on particular compliance nightmares that have become obsolete. Here’s just one example.In the 1980s, the U.S. adopted harsh rules to discourage Americans from deferring income in overseas finance vehicles (called passive foreign investment companies) that weren’t required to distribute income and gains as they accrued. But that was before the international boom in mutual funds, which are also considered PFICs. Nowadays, U.S. expats often end up owning these without even knowing it — for example, if they’re automatically enrolled in a retirement scheme by their overseas employer.The U.S. taxation of such PFICs — that is, plain-vanilla but foreign mutual funds — is ruinous. Moreover, the reporting requirements are so Kafkaesque that many professional accountants refuse to take clients who own even one. And yet, in most developed countries, mutual funds are regulated almost exactly like their U.S. analogs and must also distribute all income and gains.At a stroke, your Treasury could change the regulations to exempt an entire category of funds from PFIC reporting, starting with these run-of-the-mill retail investments. In the same way, you could tweak dozens of other nonsensical rules.But there’s an even simpler step you could take. Contrary to lore, there’s no U.S. statute that ties U.S. nationality to tax liability. Instead, the Treasury established that link in past regulations. This means you, Dr. Yellen, can break the link again.Our proposal — as laid out in detail by Richardson, Alpert and Snyder — is that you introduce a new category of taxpayers, in addition to the many you already have. It could be called “qualified nonresidents,” and would include U.S. citizens who live permanently in another country and pay taxes there as though they were its nationals.These qualified nonresidents would be exempt from filing returns to the IRS and FinCEN, and from paying taxes on any income that’s not sourced in the U.S. They already don’t owe anything, so the revenue loss would be close to zero. Moreover, the IRS could divert its own resources from this complex and unprofitable enforcement area to others that are more worthwhile.This change would align American taxation of individuals with the systems of all other developed countries. It would free us expats to live, earn, save and invest as other people do. And whenever any of us move back to the U.S., we’re yours again. Never would it have cost so little to help so many with such negligible fuss. Please consider it.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andreas Kluth is a columnist for Bloomberg Opinion. He was previously editor in chief of Handelsblatt Global and a writer for the Economist. He's the author of "Hannibal and Me." For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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