225.85 0.00 (0.00%)
After hours: 4:52PM EST
|Bid||226.09 x 1100|
|Ask||226.32 x 800|
|Day's Range||221.27 - 228.49|
|52 Week Range||84.11 - 243.67|
|Beta (5Y Monthly)||1.84|
|PE Ratio (TTM)||28.26|
|Earnings Date||Mar 25, 2020 - Mar 29, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||234.00|
(Bloomberg) -- Legendary investor Bill Miller’s hedge fund jumped 120% last year -- and he says it’s because he didn’t stray from his top names.“In the fourth quarter, we did our favorite thing to do in markets: nothing,” Miller wrote in an investor letter dated Jan. 15. “No new names and no elimination of holdings from the portfolio. This doesn’t happen as often as it probably should.”The performance stands in contrast to the industry. Hedge funds on average rose 9.2% last year, according to Bloomberg Hedge Fund Indices, while the S&P Index 500 jumped 29% in that period. Miller’s gain marks a turnaround for 2018 when the fund slid about 34% as markets plunged.The veteran stock-picker’s Miller Value Partners 1 surged 60% in the fourth quarter alone, according to the letter seen by Bloomberg. The fund, which has about $220 million in assets, uses one-to-three times leverage on its investments.Among the fund’s top contributors to the gains were security system company ADT Inc., Flexion Therapeutics Inc. and Teva Pharmaceutical Industries Ltd. Other holdings included furniture retailer RH and Amazon.com Inc.Miller, who focuses on beaten-down securities that trade at a large discount to their intrinsic value, predicts the bull market will continue, though “stocks will not move in a straight line higher.” He declined to comment beyond the letter.Miller gained fame beating the S&P 500 for 15 straight years when he ran the Legg Mason Value Trust. He stumbled during the financial crisis, losing 55% in 2008 and triggering redemptions.His Miller Opportunity Trust, a mutual fund with $1.7 billion in assets, was up about 34% last year and rose about 19% in the fourth quarter.(Updates with Miller declining to comment in sixth paragraph)To contact the reporter on this story: Melissa Karsh in New York at email@example.comTo contact the editors responsible for this story: Sam Mamudi at firstname.lastname@example.org, Alan MirabellaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Record home purchases were made in December, a sign that record low unemployment rate and favorable mortgage rates are luring buyers back into the housing market.
Sleep Number and Williams Sonoma industry peer RH stock may be set to run again even after rising 519% and posting 119% earnings growth.
In a short squeeze, traders who have sold a stock short are forced to scramble. A rising share price leads those short sellers to buy shares to cover their positions. That demand can lead to a spiral higher: more shorts look to cover or face margin calls, leading to more buys and an even higher price.The most famous short squeeze in recent years -- and maybe ever -- actually was engineered by Porsche (OTCMKTS:POAHY). In 2008, amid the financial crisis, Porsche used derivatives to corner the market in Volkswagen (OTCMKTS:VWAGY). The short squeeze was so intense that Volkswagen briefly became the world's most valuable company.Most squeezes are more rudimentary in nature, simply adding to potential gains as good news arrives. Recent rallies in Tesla (NASDAQ:TSLA), Nio (NYSE:NIO), and Luckin Coffee (NYSE:LK) likely all have been boosted by short squeezes, even if fundamental factors have contributed as well.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThere are more names out there that could benefit from such a squeeze, including the following three stocks. But it's important to remember that short squeezes aren't necessarily long-term catalysts and that high short interest alone doesn't make a stock a buy. Shorts, after all, get it right sometimes. Squeezes can't and don't come if a stock doesn't make a fundamental move higher. * 10 Cheap Stocks to Buy Under $10 Indeed, these three stocks aren't guaranteed to see a squeeze. But the potential exists. Shorts are betting heavily against these stocks and good news could be on the way. Tanger Factory Outlet (SKT)Real estate investment trust Tanger Factory Outlet (NYSE:SKT) could see a squeeze driven not by performance, but by market factors. SKT stock has declined over 60% from late 2016 highs. But its dividend has held up, in fact seeing raises in each of the last three years.Source: Ritu Manoj Jethani / Shutterstock.com That combination has increased SKT's dividend yield to over 9%. Meanwhile, the SPDR S&P Dividend ETF (NYSEARCA:SDY) is based on an index that weights its components by dividend yield. And so as SKT stock has fallen, the ETF has acquired more shares. At the moment, SDY owns 20.7 million Tanger shares -- over 22% of the company.There's another problem, as Bloomberg's Matt Levine detailed last week (others have noted key parts of the story as well). SDY has a fund rule that it can't own a stock with a market capitalization under $1.5 billion. Tanger is under that line at the moment, with a market cap of $1.43 billion. And so the ETF likely has to exit the stake in its entirety by Jan. 31. That forced selling would swamp existing demand for shares, and potentially could send SKT stock down even further.But there's a catch, as Levine noted on Thursday via Bloomberg Intelligence. Fund sponsor State Street has to call in the shares it's lent to short sellers, which actually could create a squeeze. SKT stock gained 10% on Jan. 8, perhaps in anticipation of that squeeze, though it has receded since.Trading SKT in the near term seems best for those with experience, as the stock likely will be volatile. But with a stunning 58% of the float sold short, there's real potential for a squeeze. Meanwhile, Tanger's dividend yield and low valuation relative to FFO (funds from operations) make it an intriguing value play, as Aaron Levitt argued last year. The next two weeks will be eventful and could present an opportunity. Restoration Hardware (RH)Source: Andriy Blokhin / Shutterstock.com Furniture retailer RH (NYSE:RH) seemingly has made sport of targeting short sellers in the past few years. The company has used buybacks, including accelerated repurchases, to drive its share price higher.Performance has been impressive as well: adjusted EPS increased 180% in fiscal 2018 (ending early February 2019) and is guided up 46-48% in fiscal 2019. Buybacks have driven some of that growth, but RH also has seen steady revenue increases and expanding margins. * 7 Small-Cap Stocks That Are Not Worth a Second Glance But short sellers haven't given up on the trade. Over 34% of the float remains sold short. That seems unwise. RH still trades at a reasonable 16x forward price-to-earnings multiple. Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) has taken a 6.5% stake in the company. And history suggests the short side is the wrong side of this trade. Fourth quarter earnings, likely arriving in late March, could be the next catalyst for yet another squeeze. Stitch Fix (SFIX)Source: Sharaf Maksumov / Shutterstock.com Stitch Fix (NASDAQ:SFIX) has a little over 42% of its float sold short at the moment. That figure is inflated somewhat by the fact that only about 53% of shares outstanding trade freely, but that thin float can help catalyze a squeeze.And SFIX stock does seem like the type of name that could catch a bid in this market. So far, it hasn't: shares actually are down over the past eighteen months. But it's a growth name with an attractive valuation on a price-to-revenue basis. A 2020 sales target of $2 billion suggests a barely 1x multiple, backing out the company's cash on hand (Stitch Fix has no debt). Stitch Fix isn't cheap on a profit basis, at 100x 2020 consensus earnings per share estimates, but it has the ability to grow into that valuation if the top line cooperates.The high short interest admittedly suggests many traders see that revenue growth decelerating. But the bull case here is simple: if Stitch Fix meets its targets, SFIX stock likely rises. It could rise even faster than it otherwise might, as shorts are forced to cover.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monthly Dividend Stocks to Buy to Pay the Bills * 7 Earnings Reports to Watch Next Week * 7 5G Stocks to Connect Your Portfolio To The post 3 Stocks That Could See a Short Squeeze appeared first on InvestorPlace.
Most food startups don't get an exclusive distribution deal with Whole Foods. This brand just landed its second.
Retailers have been benefiting from their concerted endeavors in product innovation, introduction of new styles, merchandise replenishment and store refurbishments.
In 2019, 2.1 million employees were added. Here are five stocks that can benefit the most from healthy job additions from the top-gaining sectors.
Restoration Hardware (RH) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
JD.com, Inc. (JD) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
These frontrunners are currently witnessing a short-term pullback in price in the bull market. So, this could be the perfect entry point for those who are looking for solid profits in the year ahead.
Is the market finally running out of gas? While we saw new highs in the market on Friday, bulls struggled to keep the indices higher throughout the session. Let's look at a few top stock trades going into the last few days of 2019. Top Stock Trades for Tomorrow No. 1: Alphabet (GOOG)Source: Chart courtesy of StockCharts.comWhile Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and other mega-cap tech stocks explode higher, Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) is missing a bit. Not so much in the sense that it hasn't enjoyed 2019 -- it has, up 30% -- but in the sense that it hasn't done nearly as well as its peers.In any regard, GOOGL stock continues to coil just below $1,365. A breakout over the $1,367 high could kickstart a further rally, likely up toward $1,400.InvestorPlace - Stock Market News, Stock Advice & Trading TipsLet's see if the rising 20-day moving average can give GOOGL a boost, or if a pullback will be in order first. In the latter case, see that uptrend support (blue line) and the 50-day moving average buoy Alphabet. * 7 Stocks to Buy to Get 2020 Started the Right Way Below that level puts $1,295 back in play. Top Stock Trades for Tomorrow No. 2: American Airlines (AAL)Source: Chart courtesy of StockCharts.comOof. That's all that can be said about American Airlines (NYSE:AAL) stock over the past few years. The stock continues to put in a series of lower highs, as sellers bully the price lower and lower.On the plus side though, AAL stock put in a lower high in recent months. Shares are getting hit on Friday to the tune of 4%, so it's not all good news. Still though, if American Airlines can put in another higher low -- riding uptrend support (black line) higher -- then bulls may get a breakout in 2020.Should uptrend support fail, it puts $25.50 on the table, as well as downtrend support well below $24. Over downtrend resistance and the 50-week moving average, and AAL can garner some upside momentum. Top Stock Trades for Tomorrow No. 3: Virgin Galactic (SPCE)Source: Chart courtesy of StockCharts.comVirgin Galactic (NYSE:SPCE) officially came public about two months ago, but it has not received a very warm welcome. However, that's starting to change.After bottoming at $6.90 and finding its footing in the low-$7s, SPCE stock is looking better. Now consolidating between $10.50 and $11.50, traders are looking for a break of either level.A breakout over resistance signals to bulls that more upside could be on the way, particularly if the stock can clear the post-IPO high of $12.09. A breakdown could send SPCE to its 200-day moving average. Should bulls fail to buoy it, sellers could knock it down to single digits. Top Stock Trades for Tomorrow No. 4: RH (RH)Source: Chart courtesy of StockCharts.comFormerly known as Restoration Hardware, RH Inc (NYSE:RH) has been on fire this year. Earnings are routinely better than -expected and a Warren Buffett investment has bulls feeling good.That said, shares are slipping Friday, down more than 6% at one point. I would love to see bulls make a stand in this $210 area. There it has uptrend support (blue line), as well as the earnings gap-up level from earlier this month.Below that and RH may need more time to digest this year's gains. See if the 50-day moving average supports the stock in that case. If not, a retest of the $192.50 breakout area could be in order.On the upside, bulls want to see RH reclaim the 20-day moving average, then take out the recent high at $229.55. If they can, it puts the prior high at $243.67 on the table.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AAPL and GOOGL. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy to Get 2020 Started the Right Way * 10 Best ETFs for 2020: The Competition Is Stacked Full of Potential * 4 Gold Stocks to Buy as the Yellow Metal Surges The post 4 Top Stock Trades for Monday: GOOGL, SPCE, RH, AAL appeared first on InvestorPlace.
Williams-Sonoma (WSM) is benefiting from an improved e-commerce platform despite higher shipping costs and soft comps in the namesake brand.
S&P; SmallCap 600 constituent RH (NYSE: RH) will replace Genesee & Wyoming Inc. (NYSE: GWR) in the S&P; MidCap 400, and Foundation Building Materials Inc. (NYSE: FBM) will replace RH in the S&P; SmallCap 600 prior to the open of trading on Thursday, January 2. Brookfield Infrastructure Partners L.P. (NYSE: BIP) is acquiring Genesee & Wyoming in a deal expected to be completed prior to the open of trading on Monday, December 30.
We are still in an overall bull market and many stocks that smart money investors were piling into surged in 2019. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained more than 57% each. Hedge funds' top 3 stock picks returned 44.6% this year and beat the S&P 500 […]