|Day's Range||29.48 - 30.60|
(Bloomberg) -- One of the largest cryptocurrency exchanges is looking to partner with governments and companies to develop new digital currencies as it competes with the Libra project spearheaded by Facebook Inc.To that end, Malta-based Binance said it plans to create an independent “regional version of Libra,” the digital coin being developed by Facebook Inc. and partners, in a Chinese-language statement on its website Monday. The firm run by Chief Executive Officer Zhao “CZ” Changpeng said its open blockchain project, Venus, is intended to “empower developed and developing countries to spur new currencies.’’Developing so-called stable coins like Tether that are pegged to the U.S. dollar or another traditional currency has become a goal for many crypto platforms. Traders have flocked to these lower-volatility coins as they can be used to facilitate transactions and to park funds during wild swings in prices.Unlike Facebook, which announced its Libra coin with 27 partners from Visa Inc. to Uber Technologies Inc. signed up, Binance did not say if any other players have signed up to Venus. Instead the company said it “welcomes additional government partners, companies and organizations with a strong interest and influence on a global scale to collaborate with us to build a new open alliance and sustainable community.’’Binance already has experience with stable coins, having issued a token pegged to the U.K. pound earlier in the year. The exchange says it handles an average $1.2 billion of trading volume a day.Crypto firms have not only struggled to maintain stability in coin prices, but also with security in holding the digital assets. In May, Binance said hackers withdrew 7,000 Bitcoins worth about $40 million in a “large scale security breach.”\--With assistance from Shiyin Chen.To contact the reporter on this story: Alastair Marsh in London at firstname.lastname@example.orgTo contact the editors responsible for this story: James Hertling at email@example.com, Todd White, Sid VermaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
NEW YORK/SAN FRANCISCO (Reuters) - Alphabet Inc's Google has shut down a service it provided to wireless carriers globally that showed them weak spots in their network coverage, people familiar with the matter told Reuters, because of Google's concerns that sharing data from users of its Android phone system might attract the scrutiny of users and regulators. The withdrawal of the service, which has not been previously reported, has disappointed wireless carriers that used the data as part of their decision-making process on where to extend or upgrade their coverage. Google's Mobile Network Insights service, which had launched in March 2017, was essentially a map showing carriers signal strengths and connection speeds they were delivering in each area.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The relationship between President Donald Trump and the largest U.S. technology companies has often been frosty but a common opponent -- France’s plan to tax U.S. tech giants -- will bring the two sides together, at least temporarily.Alphabet Inc.’s Google, Facebook Inc. and Amazon.com Inc. are all scheduled to testify in Washington on Monday in support of the Trump administration’s efforts to potentially punish France for enacting a 3% tax on global tech companies with at least 750 million euros ($832 million) in global revenue and digital sales of 25 million euros in France.France’s digital tax “is a sharp departure from long-established tax rules and uniquely targets a subset of businesses,” according to prepared remarks a Google representative is scheduled to deliver in the U.S. Trade Representative’s Office hearing in Washington on Monday. “French government officials have emphasized repeatedly that the” tax is intended to target foreign technology companies.How ‘Digital Tax’ Plans in Europe Hit U.S. Tech: QuickTakeThe U.S. is probing France’s new tax, which French President Emmanuel Macron signed into law last month, using a tool that could be a precursor to new tariffs or other trade restrictions. U.S. Trade Representative Robert Lighthizer could take action as soon as Aug. 26 when a comment period on the issue closes.‘Radical Left’The effort to crack down on France has created common ground for Trump -- who has called Google and Facebook “on the side of the Radical Left Democrats” and accused Amazon of avoiding taxes -- and technology companies that are both worried foreign governments are looking to use American corporations as a way to collect additional tax revenue.The U.S. is looking to use France as an example to deter other countries from targeting American technology firms for tax dollars. The U.K., New Zealand, Spain and Italy are among countries considering their own digital taxes, a move that U.S. officials say could lead to companies being taxed multiple times on the same profits.Trump has threatened to tax French wine or other goods in response to the digital tax. He tweeted last month “we will announce a substantial reciprocal action on Macron’s foolishness shortly!” The so-called 301 investigation, which looks into unfair trade practices, is the same tool Trump used to slap tariffs on China over alleged intellectual-property theft.The U.S. says countries considering their own version of a digital tax should focus on ongoing global talks with 130 countries on how to tax tech companies. Any future pact would likely create a whole new set of rules governing which countries have the right to tax the companies, which corporate profits are taxable, and how to resolve the inevitable disputes that would arise. A deal could be reached as soon as next year.Opposition to France’s tax is a rare area of bipartisan agreement in Congress. In a letter to Treasury Secretary Steven Mnuchin in June, Senators Chuck Grassley, an Iowa Republican, and Ron Wyden, an Oregon Democrat, urged the U.S. to look at “all available tools under U.S. law to address such targeted and discriminatory taxation.”The lawmakers included a suggestion to use a section of the tax code that would double the rate of U.S. taxes on French citizens and companies in the U.S.To contact the reporter on this story: Laura Davison in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Joe Sobczyk at email@example.com, Sarah McGregor, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The report follows earlier news that Mastercard had teamed up with Facebook on Libra, the social media giant's cryptocurrency.
The Business Journal Untucked catches you up on Seattle-area business news from the past week, including an in-depth look at plane spotters, the rapid growth of Zillow Offers and Facebook's interest in Renton.
(Bloomberg) -- A top long-only equity hedge fund is betting big on Internet dating.Helsinki-based HCP Focus, which has a slim portfolio of only 12 “high-conviction” stocks, has 16% of its funds invested in Tinder-operator Match Group Inc. The owner of subscription-based online dating websites and applications has risen 93% so far this year, with a surge in new Tinder subscribers boosting second-quarter revenue and fueling a record gain on August 7. HCP entered the stock at the beginning of 2017.“If you’re a heterosexual single guy, you don’t really care about the technical details,” Ernst Gronblom, portfolio manager at Helsinki Capital Partners, said by phone on Thursday. “When a dating platform has reached critical mass, it’s very, very hard to dislodge it. If a competing platform tries to enter the market, it’s very hard to convince people to create accounts on several dating platforms.”HCP Focus manages about 70 million euros ($78 million) and was the top long-only equity fund over the three years through the first quarter, according to BarclayHedge. It returned an average 22% a year in the past five years through July. Match is its biggest holding, followed by Amazon.com Inc., which has been one of the main holdings since the start of the fund.“It’s not overvalued,” he said. “But I don’t see an explosive upside in it anymore because it’s so huge. It has the potential to give a reasonably good return for quite some time.”Gronblom focuses on companies with network effects that can create “natural monopolies”. He also holds PayPal Holdings Inc., Alibaba Group Holding Ltd and Facebook Inc., which has the strongest network effects “of any big company on the planet,” he said.Zeroing in on just 12 stocks is the “sweet spot” for Gronblom, giving enough diversification to keep volatility in check yet concentrated enough to give the full benefits of stock-picking, he said. That’s a strategy that has outperformed in recent years, but it faces risks in the short term from a global bear market.“Most of my portfolio companies are highly valued, at least according to traditional metrics,” he said. “If there’s a panic in the market these companies will typically suffer more severe losses than regular companies.“To contact the reporter on this story: Jonas Cho Walsgard in Oslo at firstname.lastname@example.orgTo contact the editors responsible for this story: Jonas Bergman at email@example.com, Stephen TreloarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Two years ago, Chris Wane, a now 31-year-old living in Manchester, England, was struggling to pay his bills and often couldn’t afford enough food for the week. Wane started an e-commerce business and used drop shipping — a practice in which a retailer keeps no inventory and a third-party supplier sends consumers the products — to handle orders. “I heard about drop-shipping a couple of years ago, and I wanted to try it,” Wane said.
Harvard University’s endowment made some bold stock trades in the calendar second quarter. Harvard Management Co., or HMC, the entity that manages the endowment, oversaw $405 million in U.S.-traded equities as of June 30.
COO of Facebook Inc (30-Year Financial, Insider Trades) Sheryl Sandberg (insider trades) sold 55,000 shares of FB on 08/14/2019 at an average price of $181.62 a share. Continue reading...
(Bloomberg) -- President Donald Trump, who has repeatedly lashed out at technology giants and their leaders, announced on Friday evening that he would be dining with Apple Inc. Chief Executive Officer Tim Cook.“Having dinner tonight with Tim Cook of Apple,” Trump, who is staying at his golf resort in Bedminster, New Jersey, wrote on Twitter. “They will be spending vast sums of money in the U.S. Great!”He did not elaborate, and Apple did not immediately respond to a request for comment on the meeting.Heads of other major technology companies, including Amazon.com Inc., Alphabet Inc.’s Google and Facebook Inc. have not fared as well in the president’s tweets and public remarks.He and his political allies have made unsupported claims that social media companies muzzle conservative views. Trump has assailed Amazon for edging out brick-and-mortar retailers and criticized its founder Jeff Bezos, who owns the Washington Post.Pressure on tech companies is increasing in Washington as congressional Republicans examine accusations of bias against conservatives; Democrats in the House conduct an antitrust inquiry and officials at the Justice Department and the Federal Trade Commission divvy up oversight of Google, Facebook, Apple, and Amazon.Earlier this week, FTC Chairman Joe Simons said in an interview that he wouldn’t let Trump’s complaints about the size and political inclinations of large technology platforms affect his agency’s decisions.Cook visited the White House in June to discuss the Trump administration’s efforts to develop job training programs that meet the changing demands of U.S. employers. The meeting was part of the American Workforce Policy Advisory Board, a working group that includes many corporate leaders. Commerce Secretary Wilbur Ross and Trump’s daughter and adviser Ivanka Trump unveiled the initiative earlier this year.\--With assistance from Alistair Barr.To contact the reporter on this story: John Harney in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Kevin Whitelaw at email@example.com, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The landmarked James A. Farley Post Office, currently being redeveloped, is also a possibility, according to The Real Deal.
Does stock market volatility have you ready to toss in the towel? My advice is use it to your advantage with IPO stocks Pinterest (NYSE:PINS), Beyond Meat (NASDAQ:BYND) and Luckin Coffee (NASDAQ:LK), where growth has quickly met up with value on the price chart. Let me explain.It's hard to keep up with the broader market's day-to-day gyrations. Wall Street swings from triumphant cheers to worrisome jeers and vice versa. From weak global economic data spooking investors to applause for the delay on levying tariffs on certain Chinese goods, it's hard to keep up with the headlines. * 10 Cheap Dividend Stocks to Load Up On More importantly, please don't forget the names Pinterest, Beyond Meat and Luckin Coffee. One of these stocks could be the next Facebook (NASDAQ:FB), Coca-Cola (NYSE:KO) or even Starbuck's (NASDAQ:SBUX). Bottom line, in today's wild trading environment these three recent IPO stocks are providing investors the opportunity to buy into big-time growth potential at advantageous prices.InvestorPlace - Stock Market News, Stock Advice & Trading Tips IPO Stock to Buy No. 1: Pinterest (PINS)PINS stock is the first of our recent IPO stocks to buy. The super popular web-based visual discovery platform blasted past earnings views and collectively caught investors' eyes as shares exploded higher by nearly 19% in early August.Technically, just over two weeks after reporting and with lots of market turbulence in between, PINS stock has pulled back approximately by 10% from a classic cup-with-handle pattern breakout attempt. This came after scoring fresh all-time highs.It's easy to blame overall market action for the first failure in this IPO stock. Ultimately, it hasn't been a great environment for buying breakouts. But with PINS stock still holding its own technically, there's reason to believe a second attempt will pay investors handsomely. PINS Stock TradeThe recommendation for PINS stock is to put shares on the radar for buying on a breakout above $35.30. That's only likely to occur if the major averages can rally for more than a day and begin to show more convincing signs of bottoming.A second approach for this IPO stock is to buy shares on weakness. I'd recommend looking for a daily chart pivot low to form. Then buy PINS stock on confirmation of a bottom. In order to keep this purchase technically constructive, I'd also make sure the PINS stock price consolidation continues to hold near $31 a share. IPO Stock to Buy No. 2: Beyond Meat (BYND)Beyond Meat is the second of our recent IPO stocks to watch. The alternative, plant-based meats company served up a sizzling, but not "meaty" enough, earnings report a couple weeks ago and word of a below-the-market secondary priced at $160 a share. The combination of reports didn't sit well with Wall Street.Technically, investors immediately punished shares, quickly dismantling BYND stock's uptrend line in free-fall-style price action. Subsequent pressure now has this first-to-market innovator testing its 50% Fibonacci level for support. BYND Stock TradeWhen will the selling pressure in this IPO stock abate? It's hard to know. But given that BYND stock is now well beneath the secondary pricing and testing a key retracement level, this deep pullback is worth monitoring for a bottom to emerge. * 10 Stocks Under $5 to Buy for Fall My advice is for investors to wait for a weekly reversal candlestick to be confirmed before entering into a long position. With this strategy, bulls will give up some immediate profit in this highly volatile IPO stock. More importantly, the approach should allow investors to buy growth at a discount and avoid being grilled for entering too quickly. IPO Stock to Buy No. 3: Luckin (LK)Luckin Coffee is the last of our IPO stocks that's setting up to buy. I'll credit InvestorPlace's Luke Lango for alerting me to this China-based upstart and its promising path to substantial longer-term returns for investors.It's true, Luckin Coffee does have its work cut out for it. The company is competing against the aforementioned coffee powerhouse Starbucks, which has already successfully penetrated this massive overseas market. But still, the opportunity is there. And as Luke notes, with a solid technology-based focus and an eye-popping sales growth runway that's affirming this IPO stock's toehold is working, LK stock is one to pick up on weakness. LK Stock TradeLK stock is testing its 50% and 62% Fibonacci levels and its lower Bollinger Band. Shares are also oversold based on the position of its stochastics indicator. However, this week's earnings-driven breakdown of trend support shouldn't be entirely dismissed. It could be a slippery path to retest this IPO stock's all-time-low near $14 a share. Anything is possible.My recommendation on LK stock is to wait for a daily chart bottoming candle to be confirmed if shares can maintain a bid above $18.75. This allows for a modest bit of wiggle room beneath the 62% level. That also respects exiting the position on a more convincing failure of this key technical support in anticipation of a more durable purchase at deeper and well-chilled levels of investor anxiety.Investment accounts under Christopher Tyler's management currently own positions in Pinterest (PINS) and its derivatives, but no other securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 3 Recent IPO Stock Pullbacks Worth Watching appeared first on InvestorPlace.
SlideBelts Inc., the local retailer that was among the Sacramento area's fastest-growing companies last year, has filed for Chapter 11 bankruptcy protection.
Deere & Co., Nvidia, Applied Materials and Facebook are the companies to watch on Friday, August 16, 2019.
The Federated MDT All Cap Core Fund has performed well in recent years, using an automated decision process.
(Bloomberg) -- Shopify Inc.’s scorching rally and Lightspeed POS Inc.’s successful trading debut this year are throwing the spotlight on who might be the next Canadian tech star to go public.A total of C$1 billion ($751 million) was invested in 142 venture capital deals in the first quarter, up 48% from a year earlier, according to the Canadian Venture & Private Equity Association. More than half of that was in tech and increasingly from U.S. investors.Here’s what the founders of some of Canada’s hottest tech firms are saying about the future of their companies, and the potential for initial public offerings:ClearbancClearbanc offers $10,000 to $10 million to startups to help fund their marketing campaigns on Facebook, Google and the like in return for a flat fee and a share of revenue.The Toronto-based investment firm, founded in 2015, raised $300 million in new funding led by Highland Capital Partners of the U.S., the largest disclosed VC-financing this year in Canada. That brings total funding to $420 million.Clearbanc plans to offer $1 billion in financing this year and is interested in funding parts of a business that could turn into a repeatable revenue stream--infrastructure, shipping and sales commissions.It’s expanding outside the U.S. and Canada, where there’s a less developed venture ecosystem and “banks are more conservative,” according to co-founder and chief executive officer, Andrew D’Souza.“We think that the fundamentals of the business, the market opportunity, justifies a large standalone business,” D’Souza said about the possibility of an IPO.WattpadWattpad Corp. may no longer be a startup but its ambitions just keep growing. Founded as a mobile-reading app, 12-year-old Wattpad now calls itself a “multi-platform entertainment company.”The Toronto-based company has provided content for one of the most re-watched movies on Netflix (“The Kissing Booth”), a Hulu series (“Light as a Feather”), and this year a Hollywood feature film (“After”), all through Wattpad Studios, launched in 2016.Last week it inked a deal with Penguin Random House in the U.K. to turn its online content, mainly created and read by young women, into books. That follows the launch of its own publishing imprint, Wattpad Books, in the U.S. in April.The company uses data from more than 80 million monthly active users to identify the best stories across its platform and turn them into content. It has launched a paid, ad-free version as well as exclusive content for a fee.Wattpad has raised $117.8 million from investors including OMERS Ventures, Tencent Holdings Ltd.’s capital arm, and August Capital Corp, and is generating revenue in “eight figures,” according to co-founder and chief executive, Allen Lau.As for an IPO, it’s “not what we spend time focusing on,” Lau said. “Our focus right now is on movies and TV shows, with our partners.”VidyardVidyard Inc. wants to be the YouTube of business videos. Its software allows companies to create personalized videos to engage with customers and use data from their viewing habits to analyze that engagement.Companies are expected to spend $103 billion annually in video-ad marketing by 2023, according to Forrester Research.Vidyard counts 1,200 businesses in over 170 countries as its customers, including enterprise customers such as Honeywell International Inc., LinkedIn and Citibank.“In terms of the next two to three years, we’re just focused on consistent, hockey-stick style growth,” says Devon Galloway, co-founder and chief technology officer at Kitchener, Ontario-based Vidyard.The company has raised $60 million to date from investors including OMERS Ventures, Inovia Capital and the venture capital arm of Salesforce Inc.Galloway said if Vidyard continues to grow as well as it has an IPO would certainly be on its path.WealthsimpleWealthsimple Inc., wishes to replace banks as a customer’s primary financial relationship, according to founder and CEO Michael Katchen.“We want to be a firm that demystifies money,” Katchen said in an interview in Bloomberg’s Toronto office. The investment-services company has more than C$5 billion in assets under management and 175,000 customers in Canada, the U.S. and U.K.The robo-adviser favored by millennials, is also targeting wealthier Canadians and has branched out into commission-free stock trading and savings products. Mortgages, life insurance and checking accounts could be next, Katchen said.Founded in 2014, WealthSimple is not yet profitable, but its backers are patient, Katchen said. These include Power Financial Corp., an investment arm run by the Desmarais family and Allianz SE.Katchen said he’s interested in an IPO but it’s still “a few years away.”(Updates with Clearbanc’s financing plan)To contact the reporter on this story: Simran Jagdev in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Jacqueline Thorpe at email@example.com;David Scanlan at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
When it comes to investing and picking stocks, I take a three step approach.First, the fundamentals -- the numbers and long-term growth prospects have to check out and warrant the present valuation. Second, the optics -- there has to be some behavioral reason out there why investors will want to buy this stock over the next several months and years. And third, the technicals -- the chart has to make sense and support the bull thesis. * 10 Cheap Dividend Stocks to Load Up On In this gallery, we will focus on that third component, the technicals. I have selected a group of high-quality stocks which check off the first two boxes and hit a home run on the third box, meaning that they all have really good charts which support the bull thesis.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWithout further ado, let's take a look at a list of seven stocks to buy with great charts, and favorable fundamentals and optics, too. Stocks to Buy With Great Charts: Facebook (FB)The chart for Facebook (NASDAQ:FB) stock has looked good all year long.After a secular decline in 2018, FB stock put in a bottom in December 2018. Since then, the stock has formed a nice uptrend over the past eight months, with a strong, upward sloping support line that has tested and held three times before -- each time when the stock's relative strength index tumbled towards oversold territory.We have a similar setup today. Facebook stock's RSI is tumbling towards oversold territory, and the stock is testing this multi-quarter support line. It appears like FB wants to hold this support line yet again, and if so, a big bounce could be just around the corner.The 2019 recovery in technicals for FB stock has been mirrored by a recovery in its fundamentals and optics. The fundamentals for FB stock have been rock solid all year long. User growth has remained steady. Revenue growth has remained robust. Margins are starting to rebound now that big data security investments are being phased out. Profit growth is coming back into the picture.Meanwhile, the optics have been similarly good all year long. Investors (and consumers) are forgetting or have already forgotten about the Cambridge Analytica scandal. This controversy moving into the rear-view mirror has lifted investor sentiment, which has helped push the stock higher over the past eight months.The fundamentals, optics and technicals all project to remain favorable for the foreseeable future. As such, the 2019 uptrend in FB stock is set to persist into the end of the year. AT&T (T)The chart on AT&T (NYSE:T) looks so good because this stock appears to be in the early stages of a technical breakout. The 20-day moving average has surged above the 50-day moving average. Both of those moving averages have surged above the 200-day moving average. All three of those moving averages are sloping upward (albeit only slightly on the 200-day).The last time these three things happened (20-day above 50-day, both above 200-day and all three with a positive slope) was back in early 2016. T stock essentially proceeded to rally from under $35 to nearly $45 in 2016.Further, the stock has formed a very strong, upward sloping support line since putting in a 52-week low during the late 2018 selloff. * 5 Cheap Stocks to Buy Now That the Fed Cut Rates The fundamental bull thesis lines up with the technicals here. AT&T is a telecom giant which has struggled with wireless pricing competition and wired cord-cutting over the past several years. But, in 2020, those headwinds should be replaced by tailwinds. Specifically, the wireless business will get a big boost from the 5G boom, while cord-cutting headwinds should be offset by streaming growth through the 2020 launch of content-packed HBO Max.As such, the fundamental bull thesis on T stock looks equally good as the chart at this moment in time. Chegg (CHGG)The chart for Chegg (NYSE:CHGG) looks good simply because the stock has been so strong for so long, even amid massive market turbulence over the past year.The secular uptrend in CHGG stock really started in early 2017. Ever since, CHGG stock has been up over 400%. More impressively, the stock hasn't had many major drawdowns during that stretch. Since 2017, the stock has tested its 200-day moving average only once -- during the late 2018 selloff when the markets briefly entered a bear market. Outside of that, CHGG stock has been on a solid, straight-line uptrend since early 2017.The fundamentals supporting CHGG stock are so good, that it's no wonder why the stock has been on such a winning trajectory. Chegg has created a digital education platform which high school and college students everywhere don't just want, but need in today's internet-dominated world (and they are willing to pay for it). As such, Chegg's subscribers have grown at a roughly 40% clip over the past several years, while revenues have grown at a nearly 45% clip. Pretty much all of that revenue is subscription-based, so it's annually recurring, and it's also very high margin.Chegg is really just getting started on its high-growth, high-margin growth narrative. Chegg only has around 3 million subscribers. There are over 35 million high school and college students in the United States alone. Consequently, the company's revenues and profits will continue to trend significantly higher over the next several years. As they do, CHGG stock will stay on this long-term winning trajectory. Under Armour (UAA)The chart on Under Armour (NYSE:UAA) looks good here because its technicals are showing that you have a way oversold stock due for a big reflex rally.Long story short, the relative strength index on UAA stock has dropped to 20, which is well into oversold territory, while the price is now testing a long-term support line. The last time this combination happened (oversold RSI with test of long-term support line) was back in late 2018. The stock proceeded to bottom and then rally more than 20% over the following month.The fundamentals here also support the idea the UAA stock is due for a bounce-back. The big drop in Under Armour stock is due to two things. First, the company reported underwhelming earnings at the end of July. Second, the U.S. has threatened to impose new tariffs on China.But, those underwhelming earnings are now fully priced into UAA stock, and one could very reasonably argue that the stock is now undervalued relative to its long-term growth prospects. At the same time, the U.S. tariff threat seems more like a chest puff than anything else -- given that many of the tariffs have actually been delayed -- so trade tensions should de-escalate over the next few months. * 7 Safe Dividend Stocks for Investors to Buy Right Now Consequently, the fundamentals and optics here imply that UAA stock will reverse course soon. The Trade Desk (TTD)The chart for The Trade Desk (NASDAQ:TTD) looks good mostly because you have a long-term winning stock which has a well-defined and strongly upward-sloping support line. And the stock is getting ready to test that support line soon -- implying that a bounce could be around the corner.Specifically, ever since early summer 2018, TTD stock has essentially tripled, and in so doing, has only tested its 200-day moving average once. Further, in 2019, The Trade Desk stock has established a strong, upward-sloping support line which has held four times over the past nine months. TTD is gearing up to test this support line again amid broader market weakness. If the stock holds this support, a big bounce could be around the corner.Much like Chegg, it's no wonder that TTD stock has such a great chart, given that the fundamentals underlying TTD are equally robust.The Trade Desk is the leader in the programmatic advertising world. Programmatic advertising is the future of advertising. It is essentially the convergence of the automation and data-driven trends into the ad world, wherein computers and data-driven algorithms programmatically allocate and spend.Right now, only a small slice of the global ad spend pie is transacted programmatically. Eventually, given that data and automation are the future, pretty much every ad dollar around the world will be transacted programmatically. Thus, as the ad world pivots into programmatic advertising, The Trade Desk will benefit from robust ad spending and revenue growth. Margins will improve with scale, and profit growth will be doubly robust.Net net, then, The Trade Desk is supported by secular growth drivers which ultimately imply that TTD stock will run higher long term. Wayfair (W)The chart on Wayfair (NYSE:W) looks good because you have a long-term winning growth stock that has a history of both sharp selloffs, and sharp rebounds from those selloffs. W stock is currently in the midst of one of those selloffs, and is technically positioned for a big rebound rally.Specifically, the relative strength index on Wayfair stock has recently plunged to just over 20 -- well into oversold territory. Wayfair's RSI has taken a deep dive into oversold territory three times before since January 2018. Each time, the stock bottomed shortly after the RSI entered oversold territory, and proceeded to stage a huge comeback rally over the subsequent few weeks or months.The company's fundamentals support the technicals here in saying that Wayfair stock is due for a big recovery rally.Wayfair stock has been killed over the past few months because of a few things, including poor macroeconomic conditions, a bad third-quarter guide and a convertible note offering. All of this is really just noise. For all intents and purposes, Wayfair is a consumer-driven growth company, and the consumer globally remains fairly healthy, especially in the U.S. Just look at this red hot July retail sales report. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What Secular tailwinds in the e-commerce space remain healthy, and lower rates globally should promote more big ticket purchases -- like home and home furnishing purchases.Net net, the core fundamentals here remain solid. As such, once near-term macro noise passes, W stock should bounce back from today's oversold levels. Adobe (ADBE)There is no such thing as a "perfect" chart. But, the chart for Adobe (NASDAQ:ADBE) comes pretty close. Ever since 2012 -- when Adobe pivoted into a cloud, software as a service model -- ADBE stock has taken off and has not looked back. Every few months, the stock will test its 200-day moving average. Every time, the stock largely holds that level. And, every time, the stock bounces back and moves higher, and the 200-day moving average moves higher too.In other words, this stock has been on a seemingly unstoppable uptrend over the past seven years.Adobe checks off every box you'd want a growth stock to check off.Big revenue growth? Check -- 20%-plus revenue growth in each of the past several quarters. Secular demand drivers? Check. The world is becoming more visually obsessed, and as it does, consumers and enterprises alike are increasingly using Adobe's visually-focused solutions. Limited competition? Check. Adobe has so little competition in the creative solutions space that the average Joe would be hard-pressed to name an Adobe alternative. Big margins? Check. Adobe's subscription business runs at 90%-plus gross margins. Revenue visibility? Check. Adobe collects about 90% of its revenue form annually recurring subscriptions.So long as Adobe continues to check off all those boxes -- and the global economy staves off a recession -- ADBE stock should continue to trend higher.As of this writing, Luke Lango was long FB, T, CHGG, UAA, TTD, and ADBE. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 7 Stocks to Buy With Great Charts appeared first on InvestorPlace.
[Editor's note: "5 Cheap Stocks to Buy That Are $6 or Less" was originally published in May 2019. It has since been updated to include the most relevant information available.]The stock market's volatility at the start of 2019 didn't make me any less bullish on stocks, and that mentality has paid off -- the Dow Jones is up 10% year-to-date. And my penny stock picks? While some are down from their first-quarter peaks, most of them remain considerably higher on a YTD basis.Among these stocks, market movements can cause some noise. But the investment thesis on cheap stocks to buy is predicated on huge moves higher in the long-term. Thus, in the near-term, macro-driven movements amount to nothing more than a sideshow.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFrom this perspective, now might be a good time to pile into some stocks under $6. These stocks to buy are a high-risk bunch. But they do have high-reward potential, too. * 10 Cheap Dividend Stocks to Load Up On With that in mind, here is a list of five of the best penny stocks to buy that I think have more upside potential to ride the market's bullishness. Pier 1 (PIR)PIR stock price: $3.36 Year-to-date: -45%Furniture retailer Pier 1 Imports (NYSE:PIR) has had a tough time getting its act together for several years. PIR stock has collapsed over the past year. These problems aren't new. Over the past five years, this stock has lost more than 90% of its value.Source: Shutterstock Having said that, there is visibility for a turnaround in PIR stock in the near future.At its core, Pier 1 has been killed by rising e-commerce threats creating huge pricing and traffic headwinds. Pier 1, which stands somewhat square in the middle of price and quality, doesn't really have anything special about the business to protect against these headwinds. Consequently, sales and margins have dropped in a big way.But, the company has a three-year strategic plan to turn the business around. The plan includes bigger investments in omnichannel commerce capabilities and marketing.No one knows whether this plan will actually work. But home furnishings is a market with enduring demand, so that helps.Meanwhile, PIR stock is dirt cheap. At 50 cents per share in earnings power, it wouldn't be unreasonable to see this stock hit $8 (a market-average 16x multiple). Groupon (GRPN)GRPN stock price: $2.32 Year-to-date: -28%Much like Pier 1, savings-king Groupon (NASDAQ:GRPN) feels like one of those companies that were loved yesterday but will be forgotten tomorrow. But I don't think that's true. I get that the savings and deals market is commoditized now. I also understand that Groupon really isn't a household name for coupons like it used to be.Source: Shutterstock But I'm a numbers guy. And Groupon's numbers are pretty good. Its margins are improving thanks to management's focus on higher-margin businesses.Operating expenses are also being removed from the system, so the company's overall profitability profile is improving.Aside from the numbers, Groupon launched an aggressive advertising campaign last year with hyper-relevant Tiffany Haddish that scored just shy of 100 million views. I think this campaign will have a long-term positive effect on usage, which could drive the stock higher. * 10 Stocks Under $5 to Buy for Fall Put it all together, and it looks like GRPN stock could have a big-time rally in 2020. Zynga (ZNGA)ZNGA stock price: $5.55 Year-to-date: 46%I'm not a huge fan of the mobile gaming sector. It's a tough space plagued with competition and low margins. Plus, competition is only building thanks to social media apps becoming increasingly multi-purpose.Source: Shutterstock But mobile gaming company Zynga (NASDAQ:ZNGA) seems to have found the key to success in the mobile gaming world.Zynga used to be a mega-popular browser game company with tons of users. But then the company overreached by branching into games that had heavy overlap with the traditional video game market, like sports titles. They couldn't compete in that market. Eventually, the over-extension sparked user churn, and ZNGA stock spiraled downward.That forced Zynga to re-invent itself into something much more relevant and defensible. They did just that. Zynga has transitioned its business model from web-focused to mobile-first while narrowing its gaming title focus. This pivot has streamlined operations, re-invigorated top-line growth, cut costs and improved profitability.From where I sit, this pivot appears to be in its early stages. Mobile is a secular growth narrative, and ZNGA has developed a gaming portfolio that is focused and tailored to that growth narrative. Thus, so long as mobile engagement heads higher, Zynga's numbers should get better. Better numbers will inevitably lead to a higher stock price. Arotech (ARTX)ARTX stock price: $2.24 Year-to-date: -15.4%There is no hiding the fact that the defense sector has been hot under President Donald Trump. Trump came into office, upped the ante on defense and military spending, and in response, the whole world is spending more on defense and military.Source: arotech.com Defense contractors win when this happens. That is why mega-cap defense contractors like Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA) have been on fire for the past several quarters. But one micro-cap defense contractor that has missed out on this rally is Arotech (NASDAQ:ARTX).Over the past several years, the financials at Arotech haven't gained any ground. Five years ago, its revenues were $103.5 million and its net income was $3.5 million. In 2017, its revenues were $98.7 million and its net income was $3.8 million.In other words, its profits haven't risen much in five years. When profits don't go up, the stock tends not to go up. It is a simple relationship. But its profits are stabilizing. When profits go from declining to stabilizing, they usually go to growth next. * 15 Growth Stocks to Buy for the Long Haul And, when profits go up, stocks tend to go up. As such, it looks like Arotech is finally joining the tide when it comes to big boosts in defense and military spending. This tide will inevitably lift Arotech's earnings power substantially, and ARTX will rally as a result. Blink Charging (BLNK)BLNK stock price: $2.60 Year-to-date: 100%When it comes to cheap stocks, there are few as volatile as Blink Charging (NASDAQ:BLNK).Source: Shutterstock Over the past two years, BLNK stock has gone from $10 to $3, and popped from $4.50 to $8; it now sits at a paltry $2.60. This volatility won't give up any time soon. Thus, if you want to avoid volatility, I'd normally say avoid BLNK stock …That being said, if this company's secular growth narrative surrounding building a network of electric vehicle charging stations globally materializes within the next five years, this stock could be a 5- or even 10-bagger.It is a big risk. But, eventually, global infrastructure will need to match demand. At that point in time, there will be some huge contracts awarded to electric vehicle charging station companies.Will Blink be one of them? Perhaps. Tough to tell. But if they do land some big contracts, this stock could have another huge pop in a short amount of time.As of this writing, Luke Lango was long FB, PIR, GRPN and ARTX. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Safe Stocks to Buy This Summer * The 5 Best Telecom Stocks to Buy Now * 6 Innovative Stocks With Big Long-Term Growth Potential The post 5 Cheap Stocks to Buy That Are $6 or Less appeared first on InvestorPlace.
This week, we go inside one of the US’s most successful privately held businesses and ask: what’s its secret? Elsewhere in America and around the world, a new book delves into defections from Catholicism, ...
Ireland's data privacy regulator is close to concluding its first probe into a multinational company under the EU's new privacy laws, likely to involve Facebook's WhatsApp subsidiary, although a formal decision could take months. Ireland hosts the European headquarters of a number of U.S. technology firms.
(Bloomberg) -- Thailand plans a 316-billion-baht ($10.2 billion) package of government spending and loans to counter an economic slowdown caused by the U.S.-China trade war and currency strength.The package includes help for farmers and people on low incomes, as well as initiatives to bolster consumer spending and investment, Finance Minister Uttama Savanayana said in a briefing Friday in Bangkok. The proposal needs approval from the Cabinet.“We want to support the economy in the second half of the year so people have more confidence and spend money,” Uttama said.About 200 billion baht of the package would be loans from state banks, he said. Some 100 billion baht would come from the annual budget, roughly evenly split between fresh stimulus spending and already allocated funds.Calls are growing for governments around the world to loosen their budgets to tackle economic slowdowns. Central banks say they can’t do the job with monetary stimulus alone. The Bank of Thailand unexpectedly lowered borrowing costs this month, but elevated household debt limits its scope for aggressive easing.“Current math for the 2020 fiscal year suggests that there is ample room to increase spending and still keep within statutory limitations for the deficit and public debt levels,” said Radhika Rao, an economist at DBS Group Holdings Ltd. in Singapore.Farmers, WelfareThe proposed stimulus package includes compensation and emergency loans for farmers afflicted by drought, more money for welfare card holders and efforts to encourage tourism.Uttama said he planned to withdraw an earlier Facebook post that detailed a 200-billion-baht economic boost because it needs to be updated.The government said it’s seeking at least 3% economic growth in 2019, and 3.5% next year, but signaled that expansion slowed in the second quarter.Gross domestic product likely rose 2.3% in April through June -- the weakest pace in almost five years -- as exports and tourism struggled, a Bloomberg survey shows. The nation is vulnerable to U.S.-China tension, as Asia’s top economy is its largest trading partner and biggest source of tourists.Currency strength is another challenge for Southeast Asia’s second-largest economy. The baht is up more than 5% against the dollar this year, making it one of the strongest performers in emerging markets.(Updates with details from briefing on stimulus from first paragraph.)\--With assistance from Cynthia Li, Ailing Tan and Michael S. Arnold.To contact the reporters on this story: Suttinee Yuvejwattana in Bangkok at email@example.com;Natnicha Chuwiruch in Bangkok at firstname.lastname@example.orgTo contact the editors responsible for this story: Sunil Jagtiani at email@example.com, Karthikeyan SundaramFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- The promise of artificial intelligence has yet to translate into big business. Now Kai-Fu Lee, a prominent venture capitalist in China and founder of Sinovation Ventures, says his firm’s new startup should be able to reach $100 million in revenue next year and go public the year after.AInnovation, established in March 2018, develops artificial intelligence products for companies in industries such as retail, manufacturing, and finance. Its customers include Mars Inc., Carlsberg A/S, Nestle SA, Foxconn Technology Group, China Everbright Bank Co. and Postal Savings Bank of China Co.Chief Executive Officer Hocking Xu, a veteran of International Business Machines Corp. and SAP SE, has hired staff that work with traditional companies to figure out how to take advantage of AI in their operations. AInnovation is on track to hit $100 million in revenue within two years of its founding, the fastest pace yet for such a startup, Lee said.“We took the approach of ‘Let’s take some of the best business people and let’s target the industries which need AI the most’,” he said.Lee figures AInnovation will be able to go public in less than two years at a valuation of $1 billion to $2 billion. The firm has raised about $70 million so far from Sinovation, CICC ALPHA and Chengwei Capital. Since the company was funded with yuan, it would most likely list domestically, either on China’s new NASDAQ-like Star market, or on the country’s ChiNext.For retail companies, AInnovation sells products including a smart vending machine that opens with facial recognition and software that monitors retail shelves with image recognition. It’s created computer vision technology that detects defects on the production line for manufacturers and underwriting software and natural language processing technology for financial firms. There’s a large market in particular for technology to catch flaws early in the manufacturing process, said Jeffrey Ding, a researcher with Oxford’s Center for the Governance of AI. That effort “aligns with the Chinese government’s priorities to upgrade smart manufacturing capabilities to compete with countries like Germany and Switzerland,” he said in an email.The former president of Google China, Kai-Fu Lee founded Sinovation Ventures in 2009. It manages more than $2 billion across seven funds in U.S. and Chinese currencies. It holds shares in more than 300 companies, most of which are in China. Its investments include autonomous driving company Momenta, consumer AI chip firm Horizon Robotics Inc. and bitcoin mining and AI chip company Bitmain Technologies Ltd.In artificial intelligence, “we’re still at a very early stage in the commercialization,” Lee said. “We’re still at the equivalent of early internet portals, back when everybody was using Yahoo and there wasn’t even a Google, Amazon, or Facebook.”Global economic ructions, however, may present short-term challenges. Venture deals in China have been plummeting as investors pull back amid escalating trade tensions and slowing economic growth. The value of investments in the country tumbled 77% to $9.4 billion in the second quarter from a year earlier.“In an economy that’s slowing down, everything slows, including venture capital. There will definitely be a shakeout,” Lee said. “The positive side is that if the economy is challenging, and valuations are down, it’s a good time for us to go shopping.”Sinovation was one of the first Chinese venture capital firms with a presence in the U.S. With the trade war and the Trump administration’s tighter scrutiny of foreign investments, the firm has scaled back investments and no longer has an office in the U.S., Lee said, adding that investments in America have always been a small fraction of its overall investments.“In the long term, it’s a pity if we have to cause a total separation of two countries because one could argue that AI got to where it got because the whole world has been able to work together.”(Updates with analyst’s comment in the 9th paragraph)To contact the reporter on this story: Selina Wang in China at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Peter Elstrom, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.