|Bid||49.02 x 2900|
|Ask||49.04 x 900|
|Day's Range||48.87 - 49.54|
|52 Week Range||43.40 - 58.26|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||19.51|
|Earnings Date||Feb 11, 2020|
|Forward Dividend & Yield||1.40 (2.85%)|
|Ex-Dividend Date||Dec 31, 2019|
|1y Target Est||52.09|
Lead by technology and financial services names -- two of the three largest sector weights in the S&P 500 -- the major equity benchmarks ascended to fresh records Thursday as the Senate approved the U.S.-Mexico-Canada free trade agreement, one of the cornerstones of President Trump's 2016 campaign.Source: Provided by Finviz * The S&P 500 advanced 0.84% * The Dow Jones Industrial Average rallied 0.92% * The Nasdaq Composite jumped 1.06% * Mature technology stocks got in on that sector's rally today as highlighted by Cisco (NASDAQ:CSCO) leading the Dow with a gain of 2.1%In addition to the aforementioned signing of the USMCA, the White House's second trade victory this week, stocks were supported by some favorable economic data. While some brick-and-mortar retailers have recently delivered disappointing results for the holiday shopping season, the broader picture was brighter today.Total retail sales rose 0.3% last month and excluding the lagging automotive group, the increase was a more impressive 0.7%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat data point helped the likes of Home Depot (NYSE:HD) and Walmart (NYSE:WMT) join the ranks of the Dow Jones winners today and there were plenty of those, as 26 of the blue-chip index's names were in the green in late trading. Good News for TechPhase I of the U.S.-China trade deal has wide-ranging implications for a variety of sectors and industries, but many of the thorny technological issues between the two countries will need to be addressed in another round of trade talks. * 7 Great Financial Services ETFs to Buy Now for 2020 Still, there was some good news for tech investors today and it came from a company that's not a Dow member. Taiwan Semiconductor (NYSE:TSM) said its fourth-quarter revenue climbed 10.6%, though that somewhat disappointed analysts.More importantly, the company forecast first-quarter sales of $10.3 billion, above Wall Street forecasts. The company is the world's premier chip foundry firm and its revenue proclamation today explains Intel (NASDAQ:INTC) was one of the Dow winners on Thursday.Piper Sandler analyst Harsh Kumar said in a note out earlier today that "2020 appears to be a major recovery year for the semiconductor market."Apple (NASDAQ:AAPL) got in on the act because Taiwan Semiconductor management cited 5G deployment as a catalyst for higher revenue this year. Many TSM customers are Apple suppliers. Still RisingDisney (NYSE:DIS) notched another modest gain today, again proving its 2019 bullishness was no fluke. What was impressive about Disney's upside was that it was accrued against what could be deemed a challenging intraday backdrop.First, rival Comcast (NASDAQ:CMCSA) launched its Peacock streaming service, a competitor to Disney +. Second, Netflix (NASDAQ:NFLX) reports earnings next week and some analysts are saying the company will put to rest investors' concerns about rivals, such as Disney +.Netflix reports results Tuesday, Jan. 21 after the bell, an event that will almost certainly move that stock and potentially Disney as well. Earnings EvaluationWith the financial services sector keeping markets awash in earnings reports, the sector was boosted by Morgan Stanley's (NYSE:MS) update today. That's not a Dow component, but Morgan Stanley's rally was enough to keep all of the Dow's financial services members in the green today.American Express (NYSE:AXP) and Travelers (NYSE:TRV), two Dow representatives from that sector, report fourth-quarter results next week. Boeing, Believe it or NotBoeing (NYSE:BA) was again among the Dow winners despite another day of challenging headlines, something the company should be accustomed to by now. Southwest Airlines (NYSE:LUV) joined rivals in saying it will keep the 737 MAX grounded until at least June.A Department of Transportation panel said earlier today said the Federal Aviation Administration did things by the book when it signed off on the 737 MAX three years ago, but enhancements need to be made to the FAA's procedures. * 10 Cheap Stocks to Buy Under $10 Bottom Line on the Dow Jones TodayToday's bottom line actually doesn't pertain directly to the Dow or any of its constituents, but it's relevant nonetheless.Some market observers are opining that 2020 could be a banner year for small-cap stocks, a sentiment the Russell 2000 Index's Thursday breakout may have confirmed. Obviously, there aren't any small-cap names in the Dow, but if that segment of the market rallies, it would benefit other groups in the form of increased risk appetite.As of this writing, Todd Shriber did not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Stocks to Buy Under $10 * 5 Retail Stocks Placer.ai Thinks Can Win Big in 2020 * 6 Cheap Stocks to Buy Under $7 The post Dow Jones Today: More Records as Financials, Tech Lead the Way appeared first on InvestorPlace.
DOW UPDATE Led by strong returns for shares of Cisco and Home Depot, the Dow Jones Industrial Average is climbing Thursday afternoon. The Dow (DJIA) is trading 240 points (0.8%) higher, as shares of Cisco (CSCO) and Home Depot (HD) are contributing to the blue-chip gauge's intraday rally.
(Bloomberg) -- When Salesforce.com Inc. emerged two decades ago, it lashed out at the software establishment: large companies that allegedly locked clients into dated products. Now, a coalition of newer rivals have extended that criticism to the cloud applications pioneer. Ten software upstarts kicked off a public campaign Thursday that knocks customer relationship management, or CRM, titans, including Salesforce, Oracle Corp. and SAP SE, by saying the large companies keep clients trapped in subpar software suites, potentially shutting out smaller rivals with newer technology.The “Platform of Independents” leading the effort include Segment Inc., Amplitude Inc., Outreach Inc., Pendo.io Inc. and Drift.com Inc. Some of the companies are privately held unicorns, with valuations exceeding $1 billion. Each caters to a different software niche. The campaign began with a two-page ad in Thursday’s print edition of the Wall Street Journal and includes a web page and information sessions for prospective clients. More than 190 companies co-signed the main tenet of the campaign, that CRM software “isn’t enough” to provide good customer experiences to consumers.“We, as independent software companies, have built our products with the belief that a business should never be locked into a suite, never forced to have a one-size-fits-all technology approach, and its data should never be siloed,” the companies said in a statement. “It’s time to break free of the data monopoly.”The smaller companies argue the large software makers focus more on selling bundled packages of products than serving their clients’ needs with continuous innovation. Large technology companies have come under increasing antitrust scrutiny for their business practices, including how they wield power to maintain advantages over smaller firms. Beyond panning the quality of the bigger players’ technology, the chief executive officers of the startups said their larger rivals use acquisitions to bolster their market power.“If any of these guys becomes too big, that’s a threat to all of us in this ecosystem,” said Spenser Skates, CEO of Amplitude, which helps clients understand user behavior to improve product experiences. “Salesforce bought MuleSoft, Cisco bought AppDynamics. This is continuing to happen. It’s definitely a concern.”Representatives for Salesforce, Oracle, SAP, and Microsoft didn’t immediately respond to a request for comment. Salesforce has been well served by its strategy in the CRM market. The company’s shares climbed about 19% last year. Oracle’s stock rose about 17%. Salesforce led the market for customer-management applications with 16.8% as of 2018, the last full year for which data is available, according to research firm IDC. Oracle was next with 5.7% while SAP came in third with 5.6%. Adobe Inc. and Microsoft Corp. rounded out the top five.Salesforce, founded in 1999, is the youngest company in the group. The others have been around for about four decades.“I think there’s something significantly broken that there’s been no big CRM company built in the last 10, 15, or 20 years,” Peter Reinhardt, the CEO of Segment, which helps companies compile their data about consumers, said in an interview.Reinhardt, who spearheaded this campaign, said he isn’t interested in being acquired. Rather, he wants to work more closely with his Platform of Independents peers to jointly sell packages of software solutions to clients, as a way to counter the selling advantages and software product bundles of larger companies. And Reinhardt is optimistic that a shakeup is possible in enterprise technology.“I think we have a temporarily dominant set of companies,” he said. “But I think there’s a huge opportunity for another rewrite of the CRM world.”(Updates with 2019 share performance in the eighth paragraph.)To contact the author of this story: Nico Grant in San Francisco at email@example.comTo contact the editor responsible for this story: Andrew Pollack at firstname.lastname@example.org, Mark MilianFor 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.
The Dow Jones Industrial Average and other key indexes rallied to fresh record highs Thursday, fueled by bullish economic data and earnings.
Many cybersecurity stocks enjoyed a big run in 2019. But shifts in corporate spending to cloud computing could determine winners in 2020 and beyond.
Viavi Solutions (VIAV) partners with Ingram Micro to deploy avant-garde test instruments for fiber and cable networks to a large number of businesses across the United States.
The Canadian pension fund is using the reputation of Canadians being “the nice guys” of private equity to its advantage.
The Dow Jones Industrial Average is climbing Monday afternoon with shares of Goldman Sachs and Dow Inc. leading the way for the blue-chip average. Shares of Goldman Sachs (GS) and Dow Inc. (DOW) have contributed to the blue-chip gauge's intraday rally, as the Dow (DJIA) is trading 77 points (0.3%) higher. Goldman Sachs's shares are up $3.50, or 1.4%, while those of Dow Inc. are up $0.68, or 1.3%, combining for an approximately 28-point boost for the Dow.
Moody's Investors Service, ("Moody's") affirmed the B2 Corporate Family Rating ("CFR") of Presidio Holdings Inc. (New) ("Presidio ") and assigned a B1 rating to the company's proposed senior secured notes and Caa1 to the proposed senior unsecured notes. Proceeds from the new notes will be used to refinance acquisition bridge financing which, along with $855 million in contributed and rolled over equity, funded the roughly $2.2 billion acquisition of Presidio by BC Partners Advisors L.P. ("BC Partners") that closed on December 19, 2019. Earlier this week, Moody's assigned ratings to Presidio's new credit facilities which will also be used to refinance outstanding acquisition bridge debt.
The chief investment officer for equities at Putnam Investments argues the S&P 500 could reach 5,000 in a hurry.
Avnet's (AVT) Partner Program will enable developers to reduce time and costs required to build IoT applications and scale their businesses.
Shares of Cisco Systems Inc. slid 1.1% in morning trading Wednesday, after Bank of America Merrill Lynch downgraded the networking company, citing a lack of expected catalysts in 2020. Analyst Tal Liani cut his rating to neutral from buy, and lowered his stock price target to $52 from $56. "We do not see a major catalyst for the stock in the coming quarters, and we see several headwinds that could continue to weigh on upcoming results," Liani wrote in a note to clients. "Challenges include 2-3 quarters of difficult [comparisons], slower potential growth for campus switching, secular pressure on routing and reduced share repurchase activity." Cisco's stock has gained 7.8% over the past 12 months, while the Dow Jones Industrial Average has advanced 20.3%. He also downgraded FireEye Inc. and Palo Alto Networks Inc. to hold from buy, but upgraded CommScope Holding Co. Inc. to buy from neutral. Shares of FireEye slumped 3.4% and Palo Alto lost 1.9%, while CommScope rallied 5.4%.
The major stock indexes were modestly higher in morning trade after Iran's retaliation was less than feared. Boeing stock slid 2%.
Tech stocks have been the star of the market through the first two decades of the 21st century. Expect that to continue into the third.That said, the ways investors can play the technology sector have evolved over the years.Once upon a time, tech stocks mostly seemed like speculative picks - high reward but equally high risk. However, technology's growing influence across all aspects of society, as well as the maturation of dozens of companies, has widened the field. Now, you can tap technology for consistent blue-chip growth, and in some cases, even for reliable dividends with decent yields.The following are the 15 best tech stocks to buy for 2020, with options for several portfolio needs. Each stock is categorized as an income winner, an established grower or a great speculation. Income winners have a nice track record of making (and raising) payouts, established growers boast leadership positions and profits, and great speculations are either developing a new market or have a clear opportunity to disrupt entrenched leaders. SEE ALSO: Hedge Funds' Top 25 Blue-Chip Stocks to Buy Now
(Bloomberg) -- With all eyes this week on the CES trade show in Las Vegas, famous for a mind-boggling array of personal gadgets, it’s worth considering something counterintuitive: Venture capitalists like consumer technology a lot less than they used to.According to PitchBook data compiled for Bloomberg, last year the normal order of funding in venture capital flipped. Enterprise technology companies, which specialize in software or services for businesses—long the dowdiest landing pad for venture dollars—attracted $30.42 billion, PitchBook data shows, about one-third more cash than consumer technology companies.That funding total is growing fast. Enterprise companies’ venture haul for 2019 was almost double the previous year’s. Meanwhile, the cash going to consumer companies fell by almost a quarter between 2018 and 2019, according to PitchBook data, to $23.26 billion.Those numbers mark the first time in at least last five years that pure enterprise companies have raised more money than consumer-facing tech, the data shows. (Though a separate "undetermined" category, where the distinction between enterprise and consumer technology is not as clear, regularly outpaces both.) The switch comes at a time when enterprise companies’ initial public offerings have been warmly received by investors. For example, shares in video communications company Zoom Video Communications Inc. almost doubled after its April initial public offering. And security company Crowdstrike Holdings Inc. is up almost two-thirds following its June debut. Meanwhile, the most hotly anticipated consumer IPOs have underperformed. Ride-hailing service Uber Technologies Inc. is down by about a third since its June offering, and in an extreme case, co-working company WeWork’s plan for the public markets dramatically crumbled last fall.But public market reception isn’t the only thing driving investment. The enterprise industry—less saturated by existing industry giants—has become a destination for some of the most talented entrepreneurs, and VCs know it. While corporate software may sound painfully boring, advancements in cloud computing and machine learning mean enterprise companies can give employees creative outlets. Investors liken the new opportunities to those once sparked for consumer startups by the advent of smartphones. In the consumer world, large companies are famous for edging out or buying up threatening upstarts. Either outcome means entrepreneurs in the giants’ crosshairs will never get to lead sizeable independent companies. While some large enterprise companies follow that playbook—SAP SE and Salesforce.com Inc. have cemented reputations as acquisition-hungry—enterprise founders often enjoy more latitude to say no to acquisition offers, with less fear that the bigger company will crush them.Cloud-monitoring business Datadog Inc., for example, turned down a bid from Cisco Systems Inc. just days before its IPO in September. And Slack Technologies Inc. continues to grow even as Microsoft Corp. has spent years pushing Teams, its own answer to office messaging.It helps that cutting-edge enterprise software requires a degree of specialization that can be hard to replicate. And increasingly, enterprise customers are open to working with startups, blunting the reputational advantage big brand-name companies enjoy when they roll out a competing product.For insights into how founders are thinking, consider Oleg Rogynskyy, whose business analytics company, People.ai, is the second enterprise startup he's founded. His career could have gone in a consumer direction if he had pursued the first business he got funding for—a photo feed he started in college in 2007. It could have turned into Instagram, maybe, or it could have gone the way of countless other less lucrative photo-sharing startups (remember Hipstamatic, PicPlz and Path?).Switching to enterprise was a good move, Rogynskyy says now. He believes enterprise companies can more easily grow to $100 million in revenue and reach IPO faster than their consumer counterparts, even if those IPOs might raise less capital. “The outcomes are smaller,” Rogynskyy says, “but the odds are higher.”This article also ran in Bloomberg Technology’s Fully Charged newsletter. Sign up here. And here’s what you need to know in global technology news:Leaked Facebook Executive Memo Grapples With Its Role In U.S. ElectionsThe New York Times obtained a memo written by Andrew Bosworth, the head of virtual and augmented reality at Facebook, mulling the social network's role in the rise of President Trump. As World Leaders Shun TikTok, Impersonators Creep InAs TikTok catches fire among the younger set, world leaders and politicians have kept their distance amid national security concerns about the Chinese-owned app.Bitcoin Goes Ballistic After Breaking Through $8,000 LevelBitcoin climbed to the highest since November after breaching the $8,000 price level.Google Says Over 500 Million People Use Its Assistant MonthlyGoogle said its digital assistant is used by more than 500 million people every month. Depending on your perspective, that’s either a win for Google, or a big miss.To contact the author of this story: Sarah McBride in San Francisco at email@example.comTo contact the editor responsible for this story: Anne VanderMey at firstname.lastname@example.org, Mark MilianFor 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.
Cisco Systems and Palo Alto Networks are lower after Bank of America analysts downgrade shares of the tech companies to neutral from buy.
(Bloomberg) -- For Paul Boudre, U.S. President Donald Trump’s push against Chinese telecommunications companies is less about espionage than the race for technological supremacy.Boudre, the chief executive officer of Soitec, a French maker of semiconductor materials that go into 5G equipment, automobiles, cloud computing and IT infrastructure, says Trump’s actions are aimed primarily at allowing American firms to catch up.“Trump’s kick in the pants for companies is to wake them up and to catch up,” Boudre said in an interview Tuesday in Paris. “Trump is the emissary saying that if nothing is done, we’ll be blown away. That’s why he’s been trying to put a brake on the advances that China has made.”With the “everything-connected” era well under way, the race for a technological edge is intensifying. Trump has repeated railed against China and its companies, including Huawei Technologies Co., citing industrial espionage and intellectual property theft. He has limited their access to the U.S. market and to American suppliers, while also pressing allies from Japan to The Netherlands to review policies toward the Asian giant.The executive push and the infrastructure policy are driving U.S. companies like Cisco, Qorvo Inc., Skyworks Solutions to accelerate their research, a move that could allow American players to get new 5G technologies rolling out potentially in 2021, Boudre said.“Technology has become political today,” he said.Supply ChainsThe U.S. pushed to block the sale of chip manufacturer ASML’s technology to China by sharing a classified intelligence report with the Dutch government, Reuters reported on Monday, citing unidentified people familiar with the matter.Soitec, which has factories and licenses for producing the substrate for handsets and infrastructure in France, Singapore and China, can provide “China Free” material if requested, Boudre said, adding that no such demands have been made by its clients.“What’s happened with Trump is a modification of supply chains,” he said. “Huawei won’t rely exclusively anymore on Qorvo, Skyworks, Qualcomm, because there is a risk. So they’ve developed relations with Murata, STMicro and others.”Developments in the U.S. 5G market this year and next will be a test of whether Trump’s policies were fruitful, Boudre said.“Clearly, two technologies are now being implemented,” with China’s 5G building on 4G, while the U.S.’s 5G that’s more of a new development called “millimeter wave.” The U.S. technology may hit the broad market in 2021, Boudre said, with Cisco driving the innovation. Qualcomm’s modem chip using millimeter wave technology is likely to hit the market in 2020.Soitec RisingWhile Trump’s moves have roiled trade and supply chains for companies building 5G and other technologies, Soitec has been spared, the executive said.The company, whose material goes into almost every smartphone in the world, plans to double sales in the next three years, reaching $1 billion in its fiscal year 2022, and sees revenue tripling in the next five years or so.Founded in the early 1990s in the French Alps, Soitec, which now employs 1,500 people, sits at the heart of the revolution that’s made possible everything from mobile phones, personal assistants like Amazon.com Inc.’s Alexa and Google’s Nest, to 5G antennas and connected devices in cars.In the automotive sector, where Europe has an edge, Soitec is working with Robert Bosch GmbH, Audi AG, STMicroelectronics NV and others to define future components, Boudre said. In artificial intelligence, he sees a shift of computing power from the cloud to devices lifting demand for Soitec’s materials, which allow chipmakers to combine computing, memory and connectivity on a single chip.The extent of all that growth will be evident when the company discusses its long-term plans in June, Boudre said.Soitec’s stock rose 85% in 2019, making it among the top 10 performers of the benchmark SBF120 index.\--With assistance from Caroline Connan and Francine Lacqua.To contact the reporters on this story: Helene Fouquet in Paris at email@example.com;Rudy Ruitenberg in Paris at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Vidya RootFor 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.
Belpoint Asset Managements David Nelson and Mike Bloomberg’s 2020 co-chair Mayor Sam Liccardo joins Yahoo Finance’s On The Move panel to discuss the possible impact that Iranian cyberattacks could have on Silicon Valley.