|Bid||266.05 x 900|
|Ask||266.09 x 800|
|Day's Range||263.01 - 265.77|
|52 Week Range||142.00 - 265.78|
|Beta (3Y Monthly)||1.25|
|PE Ratio (TTM)||22.35|
|Earnings Date||Jan 27, 2020 - Jan 31, 2020|
|Forward Dividend & Yield||3.08 (1.17%)|
|1y Target Est||255.51|
“Friends” might be getting a reboot on HBO Max while Netflix secures a one-time licensing deal with Paramount for the fourth installment of “Beverly Hills Cop." Why reboots are all the rage as platforms look to beat out streaming competitors.
(Bloomberg) -- Saudi Arabia put a valuation on state-owned oil giant Aramco of between $1.6 trillion and $1.71 trillion, well below the $2 trillion target sought by Crown Prince Mohammed bin Salman since he first mooted an initial public offering in 2016.Aramco will sell just 1.5% of its shares on the the local stock exchange, the Tadawul, somewhat less than expected. At the lower end of the price range, the offer would fall short of a record, coming in just below the $25 billion raised Alibaba Group Holding Ltd.’s in 2014.While the target valuation will make Aramco the world’s biggest public company by some distance, overtaking Apple Inc., the plans are a long way from Prince Mohammed’s initial aims: a local and international listing to raise as much as $100 billion for the kingdom’s sovereign wealth fund.In a sign Aramco will rely heavily on local investors after receiving a tepid response from international money managers, the shares won’t be marketed in the U.S. and Canada as originally planned. Japan’s also off the list.Aramco Chief Executive Officer Amin Nasser kicked off the IPO’s final phase at a presentation for hundreds of local fund managers in Riyadh. The roadshow is expected to move on to Europe this week.Nasser called it “a historic day for Saudi Aramco, for Tadawul and the kingdom of Saudi Arabia,” he said. “We are excited about the transition to being a listed company.”The final version of the prospectus didn’t identify any cornerstone investors, though the company is still in talks with Middle Eastern, Chinese and Russian funds.Aramco will need to lean heavily on local wealthy families, some of whom had members detained in Riyadh’s Ritz-Carlton hotel during a so-called corruption crackdown in 2017, to get the job done.Foreign investors had always been skeptical of the $2 trillion target and recently suggested they would be interested at a valuation below $1.5 trillion. That would offer a return on their investment close to other leading oil and gas companies like Exxon Mobil Corp. and Royal Dutch Shell Plc.The new valuation implies Aramco, which has promised a dividend of at least $75 billion next year, will reward investors with a dividend yield of between 4.4% and 4.7%. Exxon Mobil pays a dividend yield of just under 5%, while Shell pays 6.4%.Saudi Arabia has been pulling out all the stops to ensure the IPO is a success to a skeptical audience. It’s cut the tax rate for Aramco three times, promised the world’s largest dividend and offered bonus shares for retail investors who keep hold of the stock.“Aramco’s price range takes into account some uncertainties that weren’t fully absorbed when the IPO was first floated,” such as governance, said Jaafar Altaie, managing director of Abu Dhabi-based consultant Manaar Group. “The lower range reflects uncertainties. It takes into account issues of supply that are very fluid, and demand that doesn’t look so good now.”Aramco has also faced the challenge of the strengthening global movement against climate change that’s targeted the world’s largest oil and gas companies. Many foreign investors are concerned the shift away from the internal combustion engine -- a technology that drove a century of steadily rising fossil fuel demand -- means consumption of oil will peak in the next two decades.Speaking in Riyadh on Sunday, Nasser acknowledged the prospect of peak demand, but argued that with the lowest production costs in the industry, Aramco would be able to win market share from less efficient producers.The Aramco IPO is a pillar of Prince Mohammed’s much-hyped Vision 2030 plan to change the social and economic fabric of the kingdom. The plan, which relies heavily on attracting foreign investors into Saudi Arabia, suffered a big setback after the assassination in 2018 of government critic Jamal Khashoggi in Saudi Arabia’s Istanbul consulate.Proceeds from the IPO will be transferred to the Public Investment Fund, which has been making a number of bold investments, plowing $45 billion into SoftBank Corp.’s Vision Fund, taking a $3.5 billion stake in Uber Technologies Inc. and planning a $500 billion futuristic city.No matter what the final valuation, the share sale will create a public company of unmatched profitability. Aramco earned net income of $111 billion in 2018 on revenue of $315 billion.(Updates with analyst comment in 12th paragraph.)\--With assistance from Nayla Razzouk, Abbas Al Lawati and Filipe Pacheco.To contact the reporters on this story: Matthew Martin in Dubai at email@example.com;Javier Blas in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Nayla Razzouk at email@example.com, ;Stefania Bianchi at firstname.lastname@example.org, Bruce StanleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The poster, who identified himself as David and declined to give his last name, told MarketWatch that he vented his frustrations on Reddit before going to bed on Thursday night because he was tired of seeing rave reviews from tech enthusiasts online that overlooked the fact that the Apple Card was “missing the basic functionality” of many other cards. David’s comments come three months after Apple’s hotly anticipated laser-etched, titanium card back by Goldman Sachs (GS) hit the market.
Netflix for $12.99, Disney+ for $70 a year, Hulu with no ads for $11.99, and add on HBO for $14.99… wait, how much is this all costing? Welcome to the next phase of the streaming wars.
Walmart has beaten Amazon. • For the period shown on the chart, Amazon stock is up 15.55%, the Dow Jones Industrial Average is up 18.8% and Walmart stock is up 27.65%. • Earlier this year, many investors were having difficulty understanding why Walmart stock was in our Model Portfolio and Amazon stock was not.
Investors are increasingly turning to equities with cash payouts for their nest eggs. But the strategies carry risk if not done right.
Different situations call for different measures — literally. And this applies to the cup with handle, a very important chart pattern for growth investors as well.
The U.S. stock market will fight strong headwinds in the months leading to Election Day in November 2020. Until then, investors may have to muddle through the fourth year of Donald Trump’s presidency. This has been the case in every election cycle dating back to Reagan versus Mondale in 1984.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included a couple of software stocks and a mining giant. As usual, Benzinga continues to examine the prospects for many of the stocks most popular with investors.
The idea seems to be that customers would enjoy a whizzy Google banking interface, backed by an old-fashioned current account at Citi. Silicon Valley has already cracked payments. This phenomenon is not new: 20 years ago, Walmart tried to get into the retail banking business.
Can Disney+ “hold onto the huge number of early subscribers and continue to add new subscribers?” asks LightShed Partners analyst Rich Greenfield.
(Bloomberg) -- SoftBank Group Corp. has quietly completed an initial money-raising push for its second technology fund, at a fraction of its targeted $108 billion.The Japanese company has raised roughly $2 billion for the second Vision Fund so it can start backing startups, according to two people familiar with the matter. This stage of the fund-raising process is known as a first close, and SoftBank will continue gathering commitments. A Vision Fund spokesman declined to comment.SoftBank said in July that its second Vision Fund would be even larger than the first, which broke records in 2017 by raising almost $100 billion. This time around, SoftBank has said it is taking more control, committing $38 billion of its own capital and replacing Saudi Arabia, which was the largest investor in the first fund.So far, it is unclear whether there are any outside investors in the second fund. The original Vision Fund was announced in October 2016, but took another seven months for its first major closing with $93 billion in commitments.Saudi Arabia’s Public Investment Fund and Abu Dhabi’s Mubadala Investment Co., which contributed $45 billion and $15 billion, respectively, to the first fund, are reconsidering how much to put into the new fund, Bloomberg News previously reported.Talks with Saudi Arabia are still ongoing, said the people, who asked not to be identified discussing private matters. Mubadala recently told Bloomberg News it had yet to decide on whether it would invest.SoftBank has said the second fund is also expected to collect money from Apple Inc., Microsoft Corp., Foxconn Technology Group and the sovereign wealth fund of Kazakhstan.SoftBank’s second Vision Fund has made at least one investment already. It recently participated in a financing round for Chinese online property listing service Beike Zhaofang, people with knowledge of the matter said. The company previously raised $800 million from investors in March, Caixin reported at the time. A representative for Beike was not immediately reachable for comment.WeWork and Uber Technologies Inc., two of the largest investments made by SoftBank and the first Vision Fund, have performed poorly this year. A recent summary of the first Vision Fund portfolio showed that the fair value of the fund’s stakes in transportation and logistics companies was $31.1 billion as of Sept. 30, just below the cost of those investments. The fair value of the fund’s real estate investments was $7.5 billion, below the $9 billion cost.That’s prompted some soul-searching at the Japanese company.“There was a problem with my own judgment, that’s something I have to reflect on,” SoftBank founder Masayoshi Son said.(Updates with a recent Vision Fund investment in eighth paragraph.)To contact the reporters on this story: Gillian Tan in New York at email@example.com;Giles Turner in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investment bank JPMorgan on Friday suggested that advertising could be Apple's next major services business. The speculation comes as Apple stock remains in record high territory.
U.S. stocks advanced to fresh record highs to close the week. White House economic advisor Larry Kudlow noted that "short strokes" on a trade deal with China are close to completion and that "the mood music is pretty good" when it comes to finally getting Phase I of the accord signed by both sides.Source: FinViz * The S&P 500 rallied 0.77% * The Dow Jones Industrial Average jumped 0.80% * The Nasdaq Composite advanced 0.73% * Pfizer was among the Dow Jones leaders today and one of several stocks in the index with a gain of around 2%With the trade talks being a familiar theme this week, Treasury yields declined for much of the week on some nibbling at defensive trades by market participants. But bond prices declined today on the positive trade news."Concerns about the chances of the U.S. and China completing a phase-one pact had propelled Treasuries earlier this week, and acted as a headwind to a stock rally that keeps taking American gauges to record highs," according to Bloomberg.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSome decent earnings reports out of the semiconductor space propelled all of the Dow's technology components higher today. It also boosted the Nasdaq Composite to another record close. * 10 Cheap Stocks to Buy Under $10 In late trading, about two-thirds of the Dow's 30 constituents were pointed higher with a handful flirting with gains of 2% or more. Pfizer FunIn news that didn't get much attention, Pfizer (NYSE:PFE) and rival Bristol-Myers Squibb (NYSE:BMY) announced the start of a new stroke prevention study known as Guard-af. This stands for "reducing stroke by screening for undiagnosed atrial fibrillation in elderly individuals."While the companies took some liberties with that acronym, shares of Pfizer were up 2% today, pacing a mini-healthcare resurgence for the Dow today because each of the index's components from that sector traded higher on Friday. Nike Rewards InvestorsI mentioned a couple of times in recent days that Nike (NYSE:NKE) was dealing with rough public relations and the trade wranglings with China are often a headwind for NKE stock. But the shares jumped almost 2% today after the Oregon-based company announced a dividend hike.After the close of U.S. markets Thursday, Nike said it's boosting its quarterly payout 11% to 24.5 cents a share from 22 cents."Nike has consistently delivered strong cash flow and returns for shareholders and today's announcement marks NIKE's 18th consecutive year of increasing dividend payouts," said CEO Mark Parker in a statement.Nike was also quick to point out it initiated a four-year, $15 billion share buyback plan last year. Analysts Rush InYesterday, a sell-side analyst demonstrated some guts by issuing a "sell" rating on Apple (NASDAQ:AAPL). Indeed, that's a rare occurrence and investors were reminded of that today as several analysts that cover Apple were talking bullish on the stock.In fact, three analysts -- from J.P. Morgan, Piper Jaffray, and Wedbush --each raised their price forecasts on Apple today.J.P. Morgan's Samik Chatterjee increased his target on the stock to $290 from $280, while Wedbush's Daniel Ives went to $325 from $300. That's the highest on Wall Street.Ives notes "the combination of a 'super cycle' demand driver between iPhone 11/5G lineup of smartphones and a robust ~$60 billion services platform by FY 2021 will be the linchpins of the Apple growth story and stronger fundamental outlook looking ahead and thus command a higher multiple from current levels in our opinion," in a note cited by Barron's. Optimistic ViewHome Depot (NYSE:HD) is one of the few Dow companies that haven't yet reported earnings for the most recent quarter. But next week, it and rival Lowes (NYSE:LOW) step into the earnings confessional. At least one analyst is expecting Home Depot to get the better of its rival again. * 7 Stocks to Buy With Great Charts Today, Jefferies boosted its price target to $268 from $246 on Home Depot. That company reports on Nov. 19 followed by Lowes the next day. Bottom Line on the Dow Jones TodayAll-time highs are good for obvious reasons, but historical data confirm there are added benefits, namely that highs beget more new highs."So, should an all-time stock market high be cause for concern? Not really. Dating back to 1990, the average market returns over the 3-month, 6-month, and 12-month periods following all-time highs were 3%, 6%, and 13%, respectively," according to State Street.The research suggests there were some bumps along the way and that may be the case again this time around, but for now at least, it looks like the major averages are poised to rally into year end.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Silver and Gold Stocks to Buy That Offer Contrarian Upside * 7 Earnings Reports to Watch Next Week * 5 Online Retail Stocks to Buy on the Dip The post Dow Jones Today: Stocks Climb on U.S.-China Trade Developments appeared first on InvestorPlace.
(Bloomberg) -- The U.S. stock market just reached another milestone, as the Dow Jones Industrial Average passed the 28,000 threshold for the first time, extending its gain for the year to 20%.Apple Inc. led the rally, surging 68% in 2019 as the best performer in the 30-stock gauge. The iPhone maker has the third-highest weighting in the Dow average.While reaching all-time highs is nothing new for stocks this year, sentiment often gets an extra boost when major gauges take out round numbers, particularly from retail investors. Along with Apple, other household names in the blue-chip index have been surging. Microsoft Corp., Home Depot Inc. and Walt Disney Co. are among the almost one-third of Dow members up at least 30% this year.“When you have a market breaking new highs at the end of the year and breaking psychological barriers, that can create a situation where there’s FOMO, fear of missing out,” said Matt Maley, an equity strategist at Miller Tabak & Co. “For the individual investors, it gives them more confidence.”The index added 0.8% on Friday to close at 28,004.89.Sentiment is improving as the U.S. and China are poised to sign the first phase of a trade deal and after the Federal Reserve lowered interest rates three times this year. Fears the economy is headed toward a recession have receded. In their place are hopes for a pick-up in growth.While some strategists have warned about downside risk, including falling earnings and lingering uncertainty over trade, Willie Delwiche at Baird suggested the typical year-end buoyancy around holidays is likely to sustain market momentum over the short term.“At what point does that optimism become too excessive and lead to or necessitate a bit of a pullback?” Delwiche, an investment strategist at Baird, said by phone. “Optimism usually runs high this time of year, and so maybe the party can last a little longer than people are expecting.”\--With assistance from Vildana Hajric and Claire Ballentine.To contact the reporter on this story: Lu Wang in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Brad Olesen at email@example.com, Jeremy Herron, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Streaming video has been one of the biggest growth stories of the past several years, but even with all the attention that has been paid to the space, the industry is nowhere near full maturity, according to an executive at streaming-platform Roku Inc.“In the long run, the total addressable market for streaming video is all TV money, period,” said Scott Rosenberg, a senior vice president and general manager of Roku’s platform business. Over-the-top (OTT) streaming “lets advertisers do things that they’ve gotten used to in digital but which hasn’t been possible on TV,” such as individually targeting consumers based on user-specific data.Rosenberg compared the industry, specifically streaming-related advertising, to the early days of smartphones, when usage far outpaced how much advertisers focused on them. He cited a study from Magna that suggested 29% of TV viewing was happening outside the traditional model, although only 3% of TV ad budgets were being allocated to streaming services.That imbalance will correct “in a pretty accelerated fashion over the next two or three years,” he said in a phone interview. “Marketers are starting to move their money, and once it begins to happen apace, I think we’ll see a significant outflow.”It will likely take a few years for streaming ad revenue to surpass linear TV, he said, though the trend is accelerating. According to Bloomberg Intelligence, OTT ad revenue is expected to grow to $9 billion by 2023, compared with $4 billion in 2019. The TV advertising market is estimated at around $70 billion.While much of the focus on the sector has been on the fight for audiences between content providers -- both Apple and Walt Disney have recently launched new services, with others on the way, including HBO Max next spring -- Roku has benefited by being a portal to these services, rather than a competitor. Last month, Apple announced that its TV+ app would be available on Roku’s platform, news that was notable as the iPhone maker offers its own streaming hardware.The agreement “validates [Roku’s] dominant role as an aggregator,” and “the content-agnostic nature of its platform will allow more deals with streaming services,” Bloomberg Intelligence wrote.Investors have rewarded Roku’s position within the ecosystem. Shares are up more than 400% thus far this year, making it the biggest gainer in the Russell 1000 index by far. Netflix Inc. is up about 10% thus far in 2019, while Disney has risen 32%.Earlier this month, RBC Capital Markets wrote that Roku was “one of the best plays on ad-supported OTT, with the company being one of the best positioned to take share of the very large, underpenetrated” $70 billion TV advertising spending opportunityRoku posted its sixth straight advance on Friday and has risen more than 30% over that stretch. The gains have coincided with the launch of Disney+, as well as bullish commentary from Bank of America, which on Friday raised its price target and wrote that Roku’s Black Friday discounts are setting it up for “outsized” account growth in the fourth quarter.While the stock struggled in September because of concerns about competition for streaming hardware, Roku’s platform business accounts for a growing percentage of its overall revenue. According to data compiled by Bloomberg, the division comprised nearly 70% of the company’s third-quarter revenue, while the rest came from its players business. Over all of 2018, platforms accounted for just 56.1% of revenue.Roku’s Rosenberg told Bloomberg that the company continued to view linear TV as its biggest competition for near-term growth. “We’re trying to take OTT advertising from a $5 billion market to a market that’s $20, $30, or even $50 billion. However, cord-cutters are leaving paid-TV in droves, and user engagement is on our side. When I started here, there were no networks doing streaming, but now Disney is all-in on a major service. There’s been a series of tipping points for the industry.”He added that he was planning to spend the weekend watching “The Mandalorian,” a new series set in the “Star Wars” universe, now streaming on Disney+.To contact the reporter on this story: Ryan Vlastelica in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Catherine Larkin at email@example.com, Tatiana DarieFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Berkshire Hathaway picked up RH and Occidental Petroleum but trimmed its Apple stake. Meanwhile, top hedge funds bought software stocks.
Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.B), oversaw a relatively quiet third quarter of buying and selling stocks. Berkshire made a new investment in the retail sector, pumped up its exposure to the oil patch and pared off a sliver of Apple (AAPL), among other moves. We know what the greatest long-term investor of all time has been doing because the U.S. Securities and Exchange Commission requires all investment managers with more than $100 million in assets to file a Form 13F quarterly to disclose any changes in share ownership. These filings add an important level of transparency to the stock market and give Buffett-ologists a chance to get a bead on what he's thinking.When Buffett starts a new stake in some company, or adds to an existing one, investors take that as a vote of confidence. On the other hand, if he pares his holdings in a stock, it can spark investors to rethink their own investments.Here's the scorecard for what Berkshire Hathaway bought and sold during the three months ended Sept. 30, based on the most recent 13F that the company filed on Nov. 14. (And remember: Not all "Warren Buffett stocks" are actually his picks. Some smaller positions are believed to be handled by lieutenants Ted Weschler and Todd Combs.) SEE ALSO: Every Warren Buffett Stock Ranked: The Berkshire Hathaway Portfolio
The Berkshire Hathaway (BRK.B) portfolio, most of which was selected by Chairman and CEO Warren Buffett, brings to mind ubiquitous blue-chip stocks such as American Express (AXP), Coca-Cola (KO) and, more recently, Apple (AAPL).But a deep dive into Berkshire Hathaway's equity holdings reveals a more complicated picture.Berkshire Hathaway held positions in 48 separate stocks as of Sept. 30, according to the most recent regulatory filing (Nov. 14) with the Securities and Exchange Commission - up from 47 during the second quarter of this year. But the portfolio of "Buffett stocks" isn't as diversified as the number might suggest. In some cases, BRK.B holds more than one share class in the same company. Also, some holdings are immaterial leftovers from earlier bets that the Oracle of Omaha has mostly exited, just not completely.In fact, Berkshire Hathaway's equity portfolio is actually pretty concentrated. The top six holdings account for almost 70% of the portfolio's total value. The top 10 positions comprise a little more than 80%. Banks and airlines, to cite a couple of industries, carry quite a load in this portfolio. Then there's the fact that several Buffett stocks were picked by portfolio managers Todd Combs and Ted Weschler.Here, we examine each and every holding to give investors a better understanding of the entire Berkshire Hathaway portfolio. SEE ALSO: 50 Top Stocks That Billionaires Love
U.S. President Donald Trump and Apple CEO Tim Cook are set to visit facilities in Texas on Wednesday where Apple's high-end computers are assembled, sources briefed on the matter confirmed Friday. The White House and Apple declined to comment Friday. The trip will highlight Cook's strong relationship with Trump as he seeks further relief for Apple from U.S. tariffs on imports from China and will be cited by Trump as part of his efforts to convince companies to add more U.S. manufacturing jobs.
Warren Buffett’s Berkshire Hathaway Inc. may have sold some Apple Inc. shares during the third quarter, but its ownership stake in the technology giant actually increased, as the value of the investment swelled by more than $6 billion.
Nov.15 -- Dan Ives, Wedbush Securities managing director, discusses his forecast for Apple Inc. shares with Bloomberg's Taylor Riggs on "Bloomberg Technology."