|Day's Range||65.00 - 65.00|
Yahoo Finance UK investigated Google searches for terms like “high interest savings”, and “high interest savings accounts UK” and found that ads popped up for mini-bonds..which is a form of high-risk debt product. Yahoo Finance’s Edmund Heaphy breaks down the details.
(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 email@example.comTo contact the editors responsible for this story: Kevin Whitelaw at firstname.lastname@example.org, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Friday was a big day for investors. On Thursday, we said bulls would have liked to see a bigger rebound following Wednesday's brutal beating. But Friday proved strong, with U.S. stocks posting impressive gains across the board. * 10 Cheap Dividend Stocks to Load Up On Let's look at a few top stock trades going forward.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Top Stock Trades for Tomorrow: Advanced Micro Devices (AMD) Advanced Micro Devices (NASDAQ:AMD) has been all over the map lately. Luckily, we're getting new levels to work with on the charts.For now, the 100-day moving average is buoying the stock, with short-term uptrend support also helping to guide AMD higher. Ideally, bulls will see shares reclaim prior uptrend support (blue line), as well as the 20-day and 50-day moving averages.If AMD stock can do that, a test of resistance between $34 and $34.50 is on the table. If it can't reclaim these levels, they may act as resistance going forward. That puts the 100-day back on the table.If it falls below the 100-day, the $29.21 lows and the $27.65 lows are possible. Bank of America (BAC)Is Bank of America (NYSE:BAC) a safe buy? It's hard not to like the stock down here. Not only has this $26.25 to $26.50 area proven to be solid-range support for all of 2019, but BAC stock has put in three straight days with almost identical lows.The fact that these lows held gives longs a great risk/reward situation. $26 can be a stop out point for longs, while they look for a rebound higher. $27.50 is a conservative target, but $28 doesn't seem to be out of the picture.A rebound up to the 50-day and 100-day confluence near $28.75 also seams reasonable. Remember, this stock was at $31 a few weeks ago and these big shakeouts have usually been good buying opportunities. Near range support, it's a worthy risk. Facebook (FB)Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is holding trend right now, while Amazon (NASDAQ:AMZN) has quite a bit of support nearby too. Facebook (NASDAQ:FB) though? Shares are looking suspect at the moment.So far, support is holding near $179 to $180, but downtrend resistance (blue line) is squeezing FB lower. Falling below most of its major moving averages isn't helping the bulls' case either.Over downtrend resistance will help, but for FB stock to really have upside potential, it needs to clear its 50-day and 100-day moving averages. Below $180, and range support at $160 is in play. General Electric (GE)What a wild ride this one has been on the past two days. Shares of General Electric (NYSE:GE) were pulverized on Thursday after a whistleblower cited concern over the company's accounting. The CEO shot back and put his money where his mouth is, buying $2 million worth of stock.The recent lows held well, as GE stock charges back toward $9. Now though, it's key to see if General Electric can reclaim the $9 to $9.25 area or if this zone acts as resistance. Deere (DE)Deere (NYSE:DE) stock is up almost 4% heading into the weekend after the company reported its quarterly results after the close. I don't love the set up in Deere, particularly given the current trading environment. However, shares did test roughly the same low for three straight sessions, all of which held.Anyone taking a long flyer on DE should note that level -- approximately $141 -- as their potential stop out mark. If shares break out over short-term downtrend resistance (blue line), a run to the 200-day is possible. If $142.50 holds as support, bulls can stay long.A breakdown below $141 could send DE stock down to $132.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long BAC, AMZN and GOOGL. 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 5 Top Stock Trades for Monday: AMD, BAC, FB, GE, DE appeared first on InvestorPlace.
(Bloomberg Opinion) -- Two years ago, 10 sailors died when the U.S. Navy’s guided missile destroyer USS John S. McCain collided with a chemical tanker off Singapore. An investigation has determined that insufficient training and inadequate operating procedures were to blame, and both factors were related to a new touch-screen-based helm control system. The Navy has decided to revert its destroyers back to entirely physical throttles and helm controls.It’s worth exploring the Navy’s rationale for installing touch-screens (“Just because you can doesn’t mean you should,” says Rear Admiral Bill Galinis), as well as its rationale for getting rid of them:Galinis said that bridge design is something that shipbuilders have a lot of say in, as it’s not covered by any particular specification that the Navy requires builders to follow. As a result of innovation and a desire to incorporate new technology, “we got away from the physical throttles, and that was probably the number-one feedback from the fleet – they said, just give us the throttles that we can use.”There are lessons here — including a prescient one from 50 years ago — for other, more mundane transport-control interfaces as well.Large, interactive touch-screens are becoming increasingly prevalent in passenger cars; in the case of Tesla, they’re the only control interface. They’re lovely to look at, but as the Navy’s experience suggests, they might be more confusing than physical controls. That confusion isn’t academic, either: Distracted driving is an increasingly dangerous problem. According to the National Highway Traffic Safety Administration, 10% of all fatal crashes from 2012 to 2017 involved distracted drivers. Mobile phones are a major cause of distraction, as we’d expect, but they’re an even bigger problem for younger drivers.Almost 50 years ago, robotics professor Masahiro Mori wrote an extraordinary essay, “The Uncanny Valley,” on people’s reactions to robots as they became more and more humanlike. As Mori said, our affinity for robots rises as they more closely resemble humans. That affinity plunges, becoming negative and finally rising again once a robot reaches the (possibly unattainable) full likeness of a human being.Something similar is at work in our current touch-screen-filled vehicles. To an extent, adding more screen real estate give us more information, and with it more safety — until it begins to provide an overwhelming amount of information and an overly complex set of choices for visual navigation. And moving from one information-rich interface to another is increasingly difficult, as another Navy rear admiral said in reviewing the John S. McCain collision:When you look at a screen, where do you find heading? Is it in the same place, or do you have to hunt every time you go to a different screen? So the more commonality we can drive into these kind of human-machine interfaces, the better it is for the operator to quickly pick up what the situational awareness is, whatever aspect he’s looking at, whether it’s helm control, radar pictures, whatever. So we’re trying to drive that.There are two ways our in-car screens could evolve. The first is that, for safety’s sake, they’ll move back down the curve, so to speak, and be less ambiguous and more full of knobs and dials and physical throttles. That’s the Navy’s new approach. The second, though, is that we won’t go back, at least in passenger applications, to a more tactile interface of specific controls. We’re probably going to get more screens, with more information. Maybe the only way out of this valley is to shift the interface completely to voice or, in the very long run, to obviate the issue by having cars drive themselves. That could be how we navigate this uncanny valley of vehicle interfaces — the removal of any need to control the vehicle at all, and the chance to fill our cars’ screens with pure entertainment. Weekend readingA greener energy industry is testing investors’ ability to adapt. One coal CEO says “make money while you can” in an industry that is in terminal decline. The venture capital arm of Royal Dutch Shell Plc has invested in Corvus Energy, a maritime and offshore battery systems company. America’s obsession with beef is killing leather. A look at how Phoenix comes alive at night, and how other cities might too in a hotter world. An exploration of how extreme climate change has arrived in America. The Anthropocene is a joke. On a geological time scale, human civilization is an event, not an epoch. Three years of misery inside Google, the happiest company in tech. Here’s what happens when Apple Inc. locks you out of its walled garden after fraud suspicions. Machine vision can spot unknown links between classic artworks. When Midwest startups sell, their hometown schools often lose. A programmer in California got a “NULL” vanity license plate in the hopes that the word would not compute in a database of traffic offenders. Instead, he was fined $12,049. Robert Ballard, discoverer of the Titanic, is exploring a startling clue that may help him find Amelia Earhart’s plane. Bugatti’s one-off La Voiture Noire debuted at the Pebble Beach Concours D’Elegance. It’s already been sold, for $18.68 million. Bloomberg Businessweek’s Peter Coy looks back on the 40 years since the magazine declared “ the death of equities.” Get Sparklines delivered to your inbox. Sign up here. And subscribe to Bloomberg All Access and get much, much more. You’ll receive our unmatched global news coverage and two in-depth daily newsletters, the Bloomberg Open and the Bloomberg Close.To contact the author of this story: Nathaniel Bullard at email@example.comTo contact the editor responsible for this story: Brooke Sample at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nathaniel Bullard is a BloombergNEF energy analyst, covering technology and business model innovation and system-wide resource transitions.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The landmarked James A. Farley Post Office, currently being redeveloped, is also a possibility, according to The Real Deal.
Amazon (NASDAQ:AMZN) stock has continued to fall along with the market. For the most part, the decline is not the fault of the company. An intensified U.S.-China trade war and the yield curve inversion have made investors uneasy, weighing on AMZN stock and most other equities.Source: Shutterstock However, problems unique to AMZN have also hurt the stock. Moreover, the company does not pay a dividend, and its valuation exceeds that of other mega-tech companies. Given these factors, the price-earnings (PE) ratio of Amazon stock appears set to fall further. Beware of Falling ValuationsThe yield-curve inversion has an effect on AMZN and other hot tech stocks that receives little attention. Specifically, the inversion facilitates multiple compression.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAmazon stock has traded at an elevated PE ratio, often reaching PE ratios of 100 or higher. Investors can attribute much of its recent swoon to the law of large numbers. However, in recessionary environments, even the hottest of companies struggle to hold onto their premium valuations. * 10 Cheap Dividend Stocks to Load Up On The forward PE of AMZN stock has now fallen to about 53. Even after the company's disappointing earnings report issued in July, analysts still, on average, expect profit growth of 16.6% this year and 41.4% next year. Typically, given the high profit-growth estimates, the elevated PE would not concern me. However, I see disturbing signs coming from the company itself.Specifically, analysts' profit estimates for AMZN continue to fall. Analysts, on average, had previously expected earnings for the fiscal year to come in at $27.46 per share. Due to AMZN's lowered guidance, they now forecast $23.49 per share. Moreover, the company's cloud unit, which accounts for the majority of its profits, has been hurt by stronger competition from Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG). The cloud unit generated $8.38 billion of revenue last quarter, versus analysts' average outlook of $8.48 billion .That should worry investors because they have treated and valued AMZN more like a cloud company than an e-commerce firm. Other Challenges Facing Amazon StockThe antitrust investigation that's likely to include AMZN as well as Alphabet, Apple (NASDAQ:AAPL), and Facebook (NASDAQ:FB) will also weigh on Amazon stock.But I question whether the probe will hurt AMZN stock over the long-term. Jeffries & Co. analyst Brent Thill estimates the value of the cloud business as a standalone company at $400 billion. I think a spin off of the cloud unit would unlock a significant amount of value. But the probe will breed more uncertainty in the short-termAmazon has also been blamed by President Trump for the losses of the United States Post Office (USPS). Thus far, the decision by FedEx (NYSE:FDX) to not deliver Amazon packages has probably hurt FedEx more than it has AMZN. Still, I think FedEx's move will be worrisome for AMZN if the President criticizes the retail giant's use of the USPS again.None of these challenges will undermine the company's operations. Still, investors now have a lot more reasons to question the multiple of AMZN stock, making the shares a poor bet in the shorter-term. The Bottom Line on Amazon StockMany signs suggest that the valuation of Amazon stock will drop. First, the inverted yield curve indicates that a recession is looming. Stock valuations tend to fall when recessions are looming. Moreover, the slowing growth of the cloud unit and the underwhelming growth of other divisions could lead investors to doubt the attractiveness of Amazon stock at its current levels. .I also agree with the assertion of another InvestorPlace columnist, James Brumley that Amazon will emerge as a winner after the slowdown runs its course. I also do not expect AMZN to be broken up, despite President Trump's feelings about the company.However, since AMZN does not pay a dividend and the outlook of AMZN stock is dimming, I would not recommend buying AMZN stock at this time.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. 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 Amazon Stock Looks Poised to Be Hit by Multiple Compression appeared first on InvestorPlace.
NVIDIA Corporation (NASDAQ: NVDA ) shares jumped 6.7% on Friday after the company reported better-than-expected earnings and revenue in the second quarter. Despite a 17% drop in sales compared to a year ...
Alphabet's Google Assistant continues to outperform rivals Amazon Alexa and Apple Siri in tests of voice assistants. Venture capital firm Loup Ventures tested the assistants on smartphones.
Hundreds of Google (GOOG) employees are calling on the company to pledge it won’t work with U.S. Customs and Border Protection or Immigration and Customs Enforcement. A group of employees called Googlers for Human Rights posted a public petition urging the company not to bid on a cloud computing contract for CBP, the federal agency that oversees law enforcement for the country’s borders. It is not clear if Google expressed interest.
(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 email@example.comTo contact the editors responsible for this story: Jacqueline Thorpe at firstname.lastname@example.org;David Scanlan at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
[Editor's note: "10 Best Stocks to Buy and Hold Forever" was previously published in July 2019. It has since been updated to include the most relevant information available.]In a market environment that overwhelmingly encourages constant activity by investors who seemingly want to double their money every week, a discussion of stocks to buy and hold forever seems comically out of place.And yet, for better or worse, that's the mindset all of us should adopt when deploying most of our investing capital. More often than not, the more you trade, the worse you end up doing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt has been said (and verified) that 95% of true "day traders" -- the most aggressive and active of all market participants -- end up losing money by being too active for their own good. Conversely, the fact that Warren Buffett's favorite holding period is "forever" and how he's got a track record most investors would envy is just as telling. * 10 Cheap Dividend Stocks to Load Up On With that as the backdrop, here's a rundown of 10 stocks to buy and hold forever … or at least until something significant changes with your life plans or the companies themselves. AT&T (T)Dividend Yield: 5.% Year-to-date gain: 20%Calling a spade a spade, shares of telecom giant AT&T Inc. (NYSE:T) haven't been easy to own in a while. The stock is down from its mid-2016 peak, while most other stocks are well up for the timeframe.Source: Shutterstock The impasse has been an increasingly-tougher wireless and broadband market. But now that it's acquired media outfit Time Warner Inc (NYSE:TWX), a turnaround might have begun.If your intended timeframe really is "forever" though, a tough couple of years is nothing … particularly considering you're collecting a healthy dividend yield on your position's current value.More than that though, this is a telco name with a lot of clout, and a little more than $50 billion in the bank. Alphabet (GOOGL, GOOG)Dividend Yield: N/A Year-to-date gain: 12.7%Fans and followers of the company will likely know that Google parent company Alphabet Inc (NASDAQ:GOOGL, NASDAQ:GOOG) beat Q4's earnings estimate, posting $12.77 per share.Source: Shutterstock What got lost in the shuffle is how operating margins fell to 21 % from last quarter's 24%.Appreciated or not, Alphabet is a profit and revenue growth machine that has earned its spot on a list of "forever" stocks to buy. It may not always beat estimates, but it does always increase its numbers. * 10 Cheap Dividend Stocks to Load Up On That's because it keeps finding a way to serve as the middleman for about 70% of web searches done on desktops, and boasts being the preferred search engine for about 90% of the queries made via a mobile device.If it was going to be toppled, we'd see evidence of it by now. 3M (MMM)Dividend Yield: 3.67% Year-to-date gain: -18%In an era where complicated companies are shedding disparate parts of themselves so each arm can be hyper-focused on doing one thing exceedingly well, 3M Co (NYSE:MMM) is something of an outlier.Source: Shutterstock It offers everything from office supplies to healthcare products to the power transformers you see perched on top of power-line poles.It's wild mix that seems to work for 3M though, giving the company something to sell regardless of the economic environment.The clincher: 3M has managed to pay and increase its dividend every year going all the way back to 1977. Walmart (WMT)Dividend Yield: 1.88% Year-to-date gain: 21%Yes, the advent of Amazon.com, Inc. (NASDAQ:AMZN) has proven problematic for the world's biggest retailer, Walmart Inc (NYSE:WMT).Source: Shutterstock Rumors of Walmart's death at the hands of Amazon, however, have been greatly exaggerated.After being knocked over a few years ago, the company has regrouped, having figured out a way to fight the ever-growing reach of its online rival. The evidence? Last quarter's revenue, excluding currency fluctuations, jumped 2.9%. * 10 Cheap Dividend Stocks to Load Up On While it has been an ugly battle at times, Walmart has finally learned how to compete with Amazon.com. The fact that it can leverage its stores to do so only bolsters the bullish case. Southern Co (SO)Dividend Yield: 4.49% Year-to-date gain: 30%No list of stocks to buy and hold forever would be complete without a utility stock. In good times and bad, consumers almost always pay their electricity bill.Source: Shutterstock And, even though margins are thin and power providers don't have a ton of pricing power, they have little competition in most markets. Most requests for rate hikes are also approved without question.To that end, Southern Co (NYSE:SO) is one of the top picks of the litter.Southern serves nine million customers, mostly in the south, although it's represented in most of the major regions of the United States. More important, Southern Co has dished out stunningly consistent (even if tiny) profit growth, setting the stage for equally consistent dividends. It has not failed to increase its annual payout since the late 90's. Johnson & Johnson (JNJ)Dividend Yield: 2.9% Year-to-date gain: 1.15%As advanced as we've become as a society, the need for medicines, surgical products and simple healthcare solutions like Band-Aids and Tylenol is never going to go away.Source: Shutterstock That means Johnson & Johnson (NYSE:JNJ) -- which maintains a bigger product portfolio than most investors realize -- will always have something to sell to someone.That being said, don't think for a minute that a play on J&J is capitulation in the search for respectable growth. The company isn't just about treating tummy troubles and selling no-tears baby shampoo. * 10 Cheap Dividend Stocks to Load Up On It still operates a pharmaceutical arm as well, with its pharma operational revenue jumping 4.4% year-over-year last quarter, Berkshire Hathaway (BRK.B, BRK.A)Dividend Yield: N/A Year-to-date gain: -2%If the Warren Buffett mindset is the underlying philosophy in play here, why not go straight to the source and buy a piece of the fund he built from the ground up? That's Berkshire Hathaway Inc. (NYSE:BRK.B, NYSE:BRK.A).Source: Shutterstock Sure, in his most recent letter to shareholders, the Oracle of Omaha said he's struggling to find new companies at a "sensible purchase price," which is the life-blood of the organization's growth. There's also the stark reality that the 87-year-old Buffett is increasingly less involved with Berkshire Hathaway. That separation is only going to widen as time marches on.Still, he has more than proven his way works for the long haul. Over the course of the past half-century, Berkshire stock has performed about twice as well as the S&P 500 has. Waste Management (WM)Dividend Yield: 1.73% Year-to-date gain: 33%There's an old adage … the only two sure things in life are death and taxes.Source: Shutterstock It's a humorous point about the limited nature of human life and the far-reaching power of the IRS. But, it's not necessarily a complete cliche. There's a third certainty. That is, as long as people are living on the planet earth, they'll be creating garbage to shuttle to their nearby landfill. Some of the best stocks to buy and hold are companies that haul that garbage away.Enter Waste Management, Inc. (NYSE:WM), which runs garbage-pickup services for 21 million North American customers. Although its top and bottom lines ebb and flow, the bigger trend for both is pointed upward. * 10 Cheap Dividend Stocks to Load Up On Look for more of the same too. As CEO Jim Fish pointed out last year, "The babyboomers are coming into a period of heavy medical spend. All of our parents are aging and spending more on medical spend. There is medical waste generated from that, we are in that business. The industrial economy is important to us.Whether it's through repatriation from the new tax law, or just through the fact the U.S. and Canada are great places to do business and the industrial economy is showing some signs of life, we are a big industrial player on the back-end of the cycle." American Water Works (AWK)Dividend Yield: 1.61% Year-to-date gain: 37.4%Perhaps just as certain as death, taxes and the creation of trash, as long as people are alive they're going to need water to survive. That puts a water utility name like American Water Works Company Inc (NYSE:AWK) in the catbird seat. Reliability and demand make water utilities safe stocks to buy when others seem sketchy.Source: Shutterstock Much like electricity providers Southern Company, American Water Works Company -- which offers water and sewer services to 15 million people in the United States -- is rarely told no when it wants to raise rates.Water service prices have risen at above-inflation rates for the past several years, and American Water Works Company has benefited from that industry-wide trend. It's not apt to change anytime soon. Colgate-Palmolive (CL)Dividend Yield: 2.40% Year-to-date gain: 21%Last but not least, while the purchase of things like cars are cyclical, and the automobile industry itself is subject to constant reinvention, there are some consumer goods people just buy over and over again without a second thought. When it comes to the best stocks to buy and hold, you just can't forget consumer staples.Source: Shutterstock Among those often-repurchased items are Colgate toothpaste, Palmolive dish soap, Speed Stick deodorant and Cuddly fabric conditioner.Yep, they're all made by Colgate-Palmolive Company (NYSE:CL), though they're only a small sampling of the brands you'll find under the company's umbrella. * 10 Cheap Dividend Stocks to Load Up On Those who know the Colgate-Palmolive story well will know the company has gotten into some sloppy spending habits, crimping margins more than most shareholders would like. That's starting to change, however, with a serious and rather impressive cost-cutting initiative. The benefits of that work could last years, if not decades.As of this writing, James Brumley hold a long position in AT&T. You can follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for June * 7 Stocks to Buy From One of America's Best Pension Funds * 4 Consumer Staples Stocks for Both Income and Growth The post 10 Best Stocks to Buy and Hold Forever appeared first on InvestorPlace.
Google (GOOGL) employees are petitioning the company to not accept contracts from US immigration agencies that commit human rights violations.
There is no question that Snap (NYSE:SNAP) CEO and co-founder Evan Spiegel is sitting in a better position eight months into 2019. SNAP stock is up 197% year to date through August 14.Source: Shutterstock More than that, the company just issued $1.1 billion in convertible notes at the bargain-basement interest rate of 0.75%. As my InvestorPlace colleague James Brumley recently admitted, "Snap CEO Evan Spiegel has become a savvy CEO rather quickly, making SNAP stock the compelling prospect it was supposed to be two years ago (but wasn't)." When Snap went public in 2017, I wasn't a fan. Two years later, I've found myself predicting that SNAP stock will hit $20 by the end of the year. InvestorPlace - Stock Market News, Stock Advice & Trading TipsSpiegel has done an excellent job focusing the company on monetizing its social media app while at the same time cutting expenses. Don't get me wrong, I'm not thrilled that it lost $202 million on an EBITDA basis in the first six months of the year, but revenues continue to grow at a significant rate while free cash flow usage is diminishing. * 10 Stocks Under $5 to Buy for Fall The business is getting stronger in almost every way possible, including the ever-important daily active users, which have jumped 8% over the past 12 months to 203 million. Take a bow, Evan Spiegel. Thanks to your efforts over the past year, your net worth has risen exponentially. A Loss of FocusA piece of earth-shattering news came across the wires August 13. Team Snap announced the launch of Spectacles 3, the third version of its costly Spectacles sunglasses that capture the world in 3D. Available for pre-order at $380; they'll begin shipping the sunglasses in the fall. Remember that focus I was talking about in the intro. The development of Spectacles is the antithesis of focus. While innovation is to be applauded, Spectacles isn't the kind of creativity that will reward Snap shareholders. Not now, not ever. "Grossly overestimating demand for Spectacles in 2016, Snap was forced to take a $40 million write-down on all the first-generation units it couldn't sell… which was most of them," Brumley wrote in November 2018. Here's what I said about Spectacles in September 2018:"I wish Snap would forget about those ridiculous Spectacles. While the second generation might look a lot better, they're nothing but a distraction from its real business of selling advertising."The crazy thing about the third version is that it's almost double the price of the second. Sure, Spectacles 3 comes equipped with a second HD camera, but who in their right mind is going to pay that kind of price for two HD cameras? Perhaps the price increase is meant to ensure the company makes money on each pair sold, but something tells me this fascination with sunglasses is going to end with another writedown. It's All About Making MoneyI can understand Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) making this kind of crazy bet on 3D sunglasses. It generated $27.4 billion in free cash flow over the past 12 months; it's got an entire division dedicated to moonshots that aren't likely to pan out. Snap's free cash flow usage over the trailing 12 months ended Q2 2019 is $489 million, down considerably from $914 million a year earlier. It's reduced its free cash flow usage for four straight quarters, so it's going in the right direction. However, I fail to see how Spectacles 3 is going to help reduce that number even further. Until it's generating positive free cash flow, investors ought to be suspicious of vanity projects such as this one. They're a waste of time, resources and focus. While I still believe Snap stock could still hit $20 in 2019, the company's insistence on maintaining the Spectacles business portends a potential correction in 2020.If you're considering money-losing social media, I continue to prefer Pinterest (NYSE:PINS) over SNAP stock because it's got a better pathway to profitability. And most importantly, it's unlikely to make a spectacle of itself.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post With Spectacle 3, Snap Stock Is All Set for Another Major Failure appeared first on InvestorPlace.
If a recession hits, Amazon's focus on low prices and hooking consumers on subscription shopping could be the right recipe to outperform large-cap tech peers.
(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.
Google employees are calling on the company to pledge it won’t work with the U.S. Customs and Border Protection or Immigration and Customs Enforcement agencies. It’s the latest pushback from the tech giant’s workforce.
The transcripts were revealed by the city in response to a lawsuit heard in Santa Clara County Superior Court on Aug. 1 in which plaintiffs Working Partnerships USA and the First Amendment Coalition accused the city of withholding public information and violating the Brown Act, which governs meetings of public bodies.
(Bloomberg) -- Facebook Inc. this week confirmed that it ran a program to allow contractors to listen to and transcribe some users’ audio clips. The social network said that the only people who were affected were those who agreed to have their audio messages transcribed.That makes it sound like users agreed to have their chats read by third parties. But based on a look at the Messenger permissions pop-up dialogue box, they didn’t.In the Messenger mobile app, as soon as someone sends a voice message, they get a prompt asking, “Turn on Voice to Text in this chat?” Above the “No” and “Yes” buttons, Facebook describes the option: “Display text of voice clips you send and receive. You can control whether text is visible to you for each chat.”There is no mention of human involvement. Even in a separate information page in the app dedicated to understanding Voice to Text, Facebook explains that users can turn it off for each chat, and prompts people to use it more. “Voice to Text uses machine learning,” it says. “The more you use this feature, the more Voice to Text can help you.” There’s no explanation that machine learning doesn’t just involve software code.Companies including Apple Inc., Amazon.com Inc. and Google have been relying on humans to check and improve their artificial intelligence systems -- they’re just not telling their users about it. That’s a critical lapse at a time when all of the companies -- especially Facebook -- are facing regulatory scrutiny for privacy lapses. The Irish Data Protection Commissioner, which enforces European Union privacy laws, said it was looking into Facebook’s transcription practices.“AI just isn’t at the level yet where it can interpret human conversation,” meaning the companies need to rely on monitoring to help train the systems, said Jennifer King, director of consumer privacy at Stanford Law School’s Center for Internet and Society. “But the big issue from my perspective is the non-disclosure. Users clearly don’t know it’s happening.”The report on Facebook’s human transcription program raised the ire of U.S. lawmakers, some of whom were already calling for stronger privacy protections than those imposed by a $5 billion settlement with the Federal Trade Commission approved last month. Senator Mark Warner, a Virginia Democrat, said the latest revelation about Facebook’s audio collection “is yet further proof that consumers’ expectations of how their data is collected and used radically differ from what companies like Facebook are actually doing.”Some privacy lawyers suggested the lack of disclosure ran afoul of the company’s settlement with the FTC. That agreement, which resolved known conduct before June 12, bars misrepresentations by Facebook about user privacy controls, third-party access to user data and how information is collected, used and disclosed."Absent some other disclosure to users regarding the human listening, I do believe it is likely this is a violation of the order in the case," said Mark McCreary, chief privacy officer at law firm Fox Rothschild LLP.(Updates with comments from privacy lawyer in final paragraphs.)To contact the reporter on this story: Sarah Frier in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.