|Bid||0.0000 x 1000|
|Ask||0.0000 x 1000|
|Day's Range||0.3500 - 0.4210|
|52 Week Range||0.3500 - 0.4210|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Last week, Senators Chuck Schumer and Bernie Sanders published an op-ed in The New York Times in which they blasted stock buybacks. Yahoo Finance's Editor-in-Chief joins The Final Round to discuss.
The ratings on nine P&I classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. Moody's rating action reflects a base expected loss of 5.8% of the current pooled balance, compared to 5.0% at Moody's last review. Moody's base expected loss plus realized losses is now 3.6% of the original pooled balance, compared to 3.1% at the last review.
Rating Action: Moody's affirms six and downgrades four classes of WFRBS 2011- C3. Global Credit Research- 21 Mar 2019. Approximately $793 million of structured securities affected.
The ratings on six principal and interest (P&I) classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. Moody's rating action reflects a base expected loss of 5.2% of the current pooled balance, compared to 5.7% at Moody's last review. Moody's base expected loss plus realized losses is now 5.1% of the original pooled balance, compared to 5.7% at the last review.
Rating Action: Moody's affirms eight classes of CSMC 2016- NXSR. Global Credit Research- 08 Mar 2019. Approximately $446.3 million of structured securities affected.
The retailer was sued on Wednesday by Stanley Black & Decker Inc, which accused it of breach of contract and trademark infringement over its new line of professional-grade mechanics tools under the Craftsman Ultimate Collection brand. Sears did not immediately respond to requests for comment. Craftsman had been an iconic Sears brand before Stanley paid about $900 million for it in March 2017, while giving Sears what it called a "limited" license to sell some Craftsman products.
Moody's Investors Service ("Moody's") changed Briggs & Stratton Corporation's ("Briggs & Stratton") rating outlook to negative from stable. Concurrently, Moody's affirmed the company's Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default rating, Ba3 senior unsecured notes rating and SGL-3 Speculative Grade Liquidity ("SGL") rating.
The higher losses are driven by the deterioration in performance of the Independence Mall Loan and the high expected loss severity from the reported sale of the asset. The ratings on four P&I classes were affirmed because the ratings are consistent with Moody's expected loss. Moody's rating action reflects a base expected loss of 67.5% of the current pooled balance, compared to 56.2% at Moody's last review.
The ratings on two remaining P&I classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. Moody's rating action reflects a base expected loss of 0.2% of the current pooled balance, compared to 1.7% at Moody's last review. Moody's base expected loss plus realized losses is now 0.1% of the original pooled balance, compared to 0.9% at the last review.
[Editor's note: This story was originally published in October 2018. It has since been updated and republished. It is likely the author's opinions have shifted since original publication.]Everybody loves a deal when it comes to investing. It's why there are a lot of articles written about stocks under $10 and the reasons you should buy them. This article isn't one of those.I decided to write about stocks you shouldn't buy under $10 after reading an article about Sears Holdings (NASDAQ:SHLDQ) and how its stock's dropped below $1 and risks delisting. It shouldn't come as a surprise to anyone that Sears is ready for the scrap heap. It's been on a retail deathwatch for several years.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe fact is, there are times when stocks under $10, are trading at that level for a reason, and there are other times when a stock is merely misunderstood and ready for a revival.Generally, I'm a glass-half-full person who likes to pick stocks to buy rather than sell, but for this article, I'm going to recommend seven stocks under $10 that should be sold, if owned, and avoided if contemplating. * 10 Best Stocks to Buy and Hold Forever Sometimes, a dog stock is just that. Chesapeake Energy (CHK)Source: Philadelphia 76ers Via FlickrIf you bought Chesapeake Energy (NYSE:CHK) stock at the end of 2018, you're actually up roughly 42% year to date. However, if you bought CHK stock roughly 15 years ago and still hold today -- which is unlikely -- you've lost 0.84% on an annualized basis, much worse than the 10.3% annualized total return for the oil and gas sector as a whole.A recent article by Seeking Alpha contributor Giovanni DiMauro -- the author argued that Chesapeake's $1.25 billion offering of senior notes at interest rates between 7.0%-7.5% was too high -- reminded me why I suggested in August that Chesapeake would not be one the stocks under $10.It just has too much debt. And even though the bond offering lowers the company's overall interest rate, it will still have $8.5 billion in debt after the Utica shale divestiture.However, in August, I did say that buying under $4 was a good play for aggressive investors."Its long-term debt is still $9.2 billion or more than double its market cap, although that's expected to drop with the recent $2 billion disposition of some of its Utica shale assets in Ohio. Like I said last September, for those that can afford to lose their investment, an entry point below $4 remains a good one.Above that, I'd look elsewhere."Now I'm not so sure. The company keeps insisting that it will get to free cash flow neutrality, but if it can't do that at $75 a barrel, how's it going to do it at $55? Only speculators should own this stock. Ford (F)Source: Shutterstock If you bought Ford (NYSE:F) stock at the end of 2017, you're down around 8% in that timeframe. Ford hasn't had an annual gain of more than 20% since 2013. Over the past five years, it's down 6.0% annually compared to 2.6% for its peer group.Back in July 2017, I argued that GE (NYSE:GE) should have hired an outsider who could come in and give the business a fresh set of eyes. They didn't do that. Now, Flannery's out as CEO.I mention this because, in June 2017, I suggested that Ford stock was dead money until the car maker got a real innovator as CEO. Jim Hackett might be a great guy, but he's not the person for the job. The September vehicle sales have come out. Ford's reported that its total U.S. sales fell 11.2% to 197,404 vehicles. Ford's F-Series declined 8.8% in the first month of fall, although it was competing against strong sales from a year earlier. That said, both Jeep and Ram trucks had record Septembers. * 7 Consumer Staples ETFs to Buy Now If Ford's bread and butter (the F-150) can't grow sales, you can forget about $10. There are better options in the automotive industry and better stocks under $10 to buy. Groupon (GRPN)Source: Shutterstock Groupon (NASDAQ:GRPN) stock is down 26.2% in 2018. Trading at or near its 52-week low of $3.65, the glass-half-full investor might argue that it's in a better situation today than when it traded near $2 in February 2016.Perhaps, but I'm sure there is a big segment of the population that has no idea Groupon still exists, and that's a huge problem. The only reason why Groupon hasn't retreated to sub-$2 is that the company is shopping itself around and investors are speculating that Alibaba (NYSE:BABA), who owns 5.6% of the promotional deal site, could be a potential virus.Also, Jim Cramer loves Groupon's balance sheet and thinks it's doing well. He's not wrong. It expects to generate adjusted EBITDA of at least $280 million in 2018, $30 million higher than in 2017. Not to mention its free cash flow yield is currently 8.3%, just inside the 8% value criteria.However, I just don't see private equity being interested in Groupon despite having more than $600 million in cash. At the end of the day, only a strategic buyer like Alibaba would be interested, but not at a big premium to its current share price. GRPN will likely stay a stock under $10. Snap (SNAP)Source: Shutterstock Down 44.5% year-to-date , it's easy to see how some investors view Snap (NASDAQ:SNAP) as a value buy at these levels. I'm not one of them.I've not been a fan of Snap's business pretty much since its IPO in March 2017, when it sold 200 million shares at $17 a pop, generating several billion for it to fritter away."Sure, they might have read the section of the Snap Inc. prospectus that warned 'it may never achieve or maintain profitability' and reflected on this warning, but I highly doubt it," I wrote in April 2017 discussing the company post-IPO. "The reality is that anyone who bought SNAP stock, young or old, broke one of the cardinal rules of investing: Buy profitable businesses at reasonable prices."Analysts, too, have become impatient with Snap's inability to make money."We are tired of Snapchat's excuses for missing numbers and are no longer willing to give management 'time' to figure out monetization," BTIG analyst Richard Greenfield wrote in a September note. "We incorrectly stuck to our neutral rating in October 2017 due to our view that communications apps were sticky and would protect Snapchat engagement, with management simply needing more time to figure out monetization." * 7 Big Data Stocks That Deserve a Closer Look SNAP, quite simply, is a stock for speculators only. Vipshop (VIPS)Source: Shutterstock This time eight months ago, Vipshop Holdings (NYSE:VIPS) was trading above $18, its highest level since November 2015. Then it delivered a couple of underwhelming quarterly earnings reports and the rout was on. It's now lost two-thirds of its value trading below $6 as I write this.Three things stand out about Vipshop's current situation: 1) revenue growth is decelerating, 2) earnings are declining, and 3) active customers have flatlined."This was supposed to be a year of market expansion after it struck a partnership deal with two of China's internet titans, but the win-win-win deal hasn't resulted in the kind of exposure and uptick in customers that many bulls originally envisioned," wrote the Motley Fool's Rick Munarriz September 10. "Vipshop may seem like a bargain today at just 10 times this year's projected earnings and 8.5 times next year's bottom-line target, but those profit targets keep dropping as the niche conditions worsen."Is it the worst buy of these seven stocks under $10?Absolutely not, but that doesn't mean I'd go anywhere near it until it demonstrates a couple of quarters of renewed growth. Until then, you're definitely not putting your investment capital to its best use. Zynga (ZNGA)Source: Brownpau via Flickr (Modified)After a massive rebound in 2017 -- it had a 55.6% total return -- it's not surprising that Zynga (NASDAQ:ZNGA) stock has gone sideways in 2018, up about 2% YTD.Like Groupon, Zynga is one of those companies that seems to fly under the radar. With games like FarmVille (14% of revenue in Q2 2018), CSR Racing (14%), Slots (27%) and Zynga Poker (23%) continuing to generate revenue growth for the game developer, it's easy to see why it still has investor support.Valued at $3.4 billion, that's a lot of money for a company that's never made more than $125 million in operating income. Currently trading at 37 times cash flow, you can buy Activision Blizzard (NASDAQ:ATVI) stock for less than 31 times cash flow, a company that has ten times the operating income. * 5 Retail Stocks Ready to Break Out Oh, and in case you were wondering, ZNGA stock hasn't traded above $10 since April 2012. Nio (NIO)The last of our stocks under $10 to avoid is NIO (NYSE:NIO). NIO went public on September 11, 2018, selling 160 million shares at $6.26 for net proceeds of $954.9 million. It had a strong start gaining 5.4% on its first day moving as high as $11.60 within a couple of days of its IPO. Since then the Chinese electric vehicle maker has given back all of its gains and looks ready to fall below $6. Nio wants to deliver a Tesla-like vehicle at a lower cost. However, if experience making cars is important to you, you'll want to avoid its stock."Nio's not a stock we have any interest in," said Mark Tepper, president and CEO of Strategic Wealth Partners, managing over $1 billion in assets, told Business Insider. "An unproven management team along zero experience in manufacturing cars makes this an easy stock to steer clear of."Since launching its ES8 SUV in December 2017, the company's delivered just 1,602. It has another 15,778 unfulfilled reservations; 39% have a $6,544 non-refundable reservation. The remaining 61% of reservations have a $727 fully refundable deposit. It also has plans to launch the ES6, a 5-seater SUV by the end of 2018, with deliveries in the first half of 2019.And like Tesla (NASDAQ:TSLA), Nio doesn't make money. In the first six months of fiscal 2018, Nio had revenues of $7.0 million and a net loss of $502.6 million. If you're going to bet on an electric vehicle maker, Nio isn't the one.As 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 * 5 Retail Stocks Ready to Break Out * 7 Strong Buy Stocks the Street Loves * 10 Best Stocks to Buy and Hold Forever Compare Brokers The post 7 Stocks Under $10 You Shouldnat Buy appeared first on InvestorPlace.
Rating Action: Moody's affirms nine and downgrades three classes of COMM 2014- CCRE14. Global Credit Research- 25 Feb 2019. Approximately $1.03 billion of structured securities affected.
Moody's Investors Service ("Moody's") downgraded the senior unsecured debt rating of CBL & Associates Limited Partnership ("CBL") to B1 from Ba1. The rating downgrade also considered CBL's reduced covenant compliance cushion and its expectation that 2019 operating performance will be lower as compared to 2018.
Rating Action: Moody's affirms five classes of WFCM 2015- C27. Global Credit Research- 15 Feb 2019. Approximately $762.9 million of structured securities affected.
Sears Holdings Corp will sell or sublease some of the 425 stores of the retail chain and open smaller stores with more focus on tools and appliances than on apparel, said Chairman Edward Lampert in an interview with the Wall Street Journal. A U.S. bankruptcy judge approved Lampert's hedge fund ESL investments Inc's $5.2 billion takeover of the troubled retailer last week, allowing the department store chain to avert liquidation and preserve tens of thousands of jobs. "It would be very difficult to keep all 425 stores open," Lampert said in the interview, adding that a few stores have already been closed and would probably be sold soon.
Rating Action: Moody's affirms eight and downgrades three classes of JPMCC 2013- LC11. Global Credit Research- 08 Feb 2019. Approximately $951 million of structured securities affected.
A U.S. bankruptcy judge on Thursday approved Sears Holdings Corp Chairman Edward Lampert's $5.2 billion takeover of the beleaguered retailer, allowing the department store chain to avert liquidation and preserve tens of thousands of jobs. Judge Robert Drain approved the sale after a hearing spanning several days in a White Plains, N.Y., federal bankruptcy court. Lampert, who arranged an $11 billion merger between Sears and discounter Kmart in 2005 and tried for years to boost business, wins another chance to try to revive what once was the biggest U.S. retailer.
Learn about companies that Amazon competes with — including Google, Alibaba Group, Walmart and Target — in each of its different revenue segments.
U.S. Bankruptcy Judge Robert Drain said on Monday he would rule on the sale to Lampert's ESL Investments Inc later this week after hearings that were likely to run into Thursday. A lawyer for Sears Holdings Corp told the court he was hoping the deal would close on Friday, clearing the way for Sears to end its four-month stint in Chapter 11 bankruptcy and begin its new life as a private company controlled by Lampert.
[Editor's note: This story was originally published February 2018.] Even after all the tough breaks the market had in December, the recent turnaround suggests maybe things weren't as dire as they looked. Still there are some companies that could disappear before this year is out. The sad reality is, some companies are too far gone to salvage no matter how well the economy performs in 2019. Profit margins aren't necessarily the problem with a lot of these companies. The problem could be the product or service itself or a horrible reputation that would-be customers just can't shrug off. InvestorPlace - Stock Market News, Stock Advice & Trading Tips With that as the backdrop, here are the eight major companies most likely to pull a vanishing act in 2019. These are companies that could disappear either completely or just in their current form. Their brand names may survive, but the operations themselves simply aren't viable enough. * 7 Stocks That Won Super Bowl Sunday Source: GoPro ### GoPro (GPRO) Just to be clear, you'll likely find GoPro-branded action cameras on store shelves for many years to come. In the same sense Xerox and Google transcended company names and became verbs, GoPro (NASDAQ:GPRO) has successfully become synonymous with action cameras. GoPro is and will remain the standard-bearer for its respective market. That market, however, has been surprisingly small, with no real barrier to entry. The end result? Last year's earnings were abysmal and revenue was flat for the full year. The company is still booking heavy losses too, unable to find or develop a product more consumers just have to have. Even though CEO Nick Woodman held out hope for a buyout of GoPro last year, nobody bit. And at this point it doesn't looks as if anyone will soon. GoPro owners hoping for a generous buyout offer may not want to hold their breath. Source: Shutterstock ### Container Store Group (TCS) The Container Store (NYSE:TCS) still operates more than 80 stores in the U.S. albeit it with much less visibility than it enjoyed several years ago (the last time organization was all the rage). Between cheaper options online and the move from venues like Bed Bath & Beyond (NASDAQ:BBBY) and home improvement retailers like Home Depot (NYSE:HD) to get deeper into the organizational market, The Container Stores simply became less of a draw. * 10 F-Rated Stocks That Could Break Your Portfolio Even though The Container Store got a 50% bounce in January allegedly thanks to the Marie Kondo show, the marketplace isn't going to change back to what it once was. CEO Melissa Reiff should recognize it's better to cash out when there's still something of value left cash out. ### Neiman Marcus Neiman Marcus is not a publicly-traded company, but a noteworthy name to investors all the same. The struggles that the department store chain faces are applicable to other similar chains. Last year CreditRiskMonitor warned that Neiman Marcus' risk of declaring bankruptcy in 2019 was as high as 50%. Over the last two weeks the company seems to be attempting to mount a turnaround with the departure of president and marketing director James Gold and hiring talent away from Apple (NASDAQ: AAPL) and Starboard Cruise Services. But whether these moves can save this company is debatable. The math just doesn't work unless the company can sell more merchandise to more customers at higher prices. Something's got to give sooner or later, and sooner rather than later. Source: Shutterstock ### Immunomedics (IMMU) Investors who've been following the Immunomedics (NASDAQ:IMMU) story for the past several years will know that 2017 was a pivotal year for the company. Sales last year of its oncology diagnostics product LeukoScan were brisk but the FDA denied its request to accelerate approval of Sacituzumab Govitecan. Moreover, aside from the sale of its revenue-bearing LeukoScan intellectual property, it already has sold royalty rights for Sacituzumab Govitecan to Royalty Pharma. * 7 S&P 500 Stocks to Buy That Tore Up Earnings If you read between the lines and study the long-term case, you see that Immunomedics realizes it's running out of money at a pretty quick clip. In fact, the company intends to sell its LeukoScan franchise to help fund the development of the more promising opportunities in that pipeline. There's just not enough money coming in to carry all the weight the company needs carried. Source: Shutterstock ### Remington Remington is another privately-held company that investors may want to keep close tabs on, as what's happening to it could apply to rivals like Sturm Ruger & Company Inc (NYSE:RGR). The firearm manufacturer just barely was able to emerge from bankruptcy. This may be a case, however, where restructuring and more time don't solve the true, underlying problem. That is that consumers just don't want the guns Remington is making. Remington was sued over the 2012 Sandy Hook shooting, and many investors have distanced themselves since. This, along with potential for stricter gun laws in the foreseeable future, means there may not be any growth in Remington's futures. Source: Shutterstock ### Sears (SHLD) The company's downfall has been predicted many times before. With each passing year, however, Sears (NASDAQ:SHLD) moves closer to the edge of the cliff. This year may be the year it finally falls off. It recently escaped liquidation by the skin of its teeth when hedge-fund manager Edward Lampert put up $5.3 billion to keep Sears solvent, for now. But the thing is, Sears hasn't turned a full-year profit since 2011. Lampert spent last year breaking Sears into pieces and he's running out of things to sell as the company continues bleeding income. Source: Shutterstock ### Southeastern Grocers You've probably not heard of Southeastern Grocers. That's because, aside from not being a publicly-traded entity, it doesn't do business under its corporate name. You've probably heard of its stores though, particularly if you're from the south. It's the owner of BI-LO, Harveys, Winn-Dixie and Fresco y Mas grocery stores, some of which have been around for eons. Right now, Southeastern Grocers is the nation's eleventh-largest grocery store network. In the modern era, however, that isn't a whole lot better than being the fiftieth largest. It's business that relies on scale, and lots of it. Kroger Co (NYSE:KR) and Amazon.com, Inc. (NASDAQ:AMZN) have it. Southeastern Grocers doesn't. Last year, chatter first surfaced that the company wouldn't even come close to making the full service payments due on its $1 billion in debt. Increasingly, it looks as if it will fall to Amazon before too long. Source: Fitbit ### Fitbit (FIT) Last but not least, add Fitbit Inc (NYSE:FIT) to your list of companies that won't be around as you know and love them today. Like GoPro and Sears, you can reasonably expect consumer technology with the Fitbit name on them to still be in stores come 2020. The organization has worked hard to develop the brand into the name people think of when they think of wearables. Much like GoPro though, this is a company that thought its wares were far more marketable then they actually were. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter, at @jbrumley. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Boring Stocks to Buy for Red-Hot Returns * The 7 Best Car Stocks to Park in Your Portfolio * 7 Beaten-Down Chinese Stocks Ready to Rebound Compare Brokers The post 8 Companies That Could Disappear Before 2019 Is Over appeared first on InvestorPlace.
In a complaint filed in Chicago federal court, the Pension Benefit Guaranty Corp asked to be named trustee of the pension plans, which it said are underfunded by $1.4 billion and cover about 90,000 Sears and Kmart employees and retirees. The PBGC also asked that the plans be terminated as of Jan. 31, 2019. Friday's request came six days after the PBGC objected to the takeover of Sears by Lampert's hedge fund ESL Investments, which had won an auction for the Hoffman Estates, Illinois-based retailer last month.
The future of Sears Holdings Corp (SHLDQ.PK) and tens of thousands of its employees across the United States hung in the balance in the freezing predawn hours last Wednesday, as Wall Street lawyers and bankers sparred over the fate of the beleaguered retailer in a 50-story Manhattan office tower. Working the phone from Miami, where he has an office and a 17,000-square-foot mansion, was Sears Chairman Eddie Lampert. A major sticking point: who would cover more than $200 million in costs that Sears had racked up since filing for bankruptcy in October.
The agency is stepping in to oversee the retirement benefits of employees and retirees at Sears, Roebuck and Co and Kmart Corp as it is clear that Sears' continuation of the plans is no longer possible, it said. Sears Holdings, which filed for bankruptcy in October, said on Thursday Chairman Eddie Lampert won an auction to buy the once iconic U.S. retailer after presenting an improved offer of $5.2 billion.
Sears picked Lampert's hedge fund ESL Investments Inc as the winner at a bankruptcy court-supervised auction after his latest bid topped an earlier $5 billion proposal following weeks of talks. The deal would keep open more than 400 stores, preserve up to 45,000 jobs and ESL would acquire substantially all of the company, including its "Go Forward Stores" on a going-concern basis, Sears said. "We are pleased to have reached a deal that would provide a path for Sears to emerge from the chapter 11 process," the restructuring committee of Sears' board of directors said in a statement.