|Bid||28.63 x 46000|
|Ask||28.70 x 800|
|Day's Range||28.45 - 28.75|
|52 Week Range||22.66 - 31.91|
|Beta (3Y Monthly)||1.56|
|PE Ratio (TTM)||10.67|
|Earnings Date||Jul 17, 2019|
|Forward Dividend & Yield||0.60 (1.96%)|
|1y Target Est||33.40|
Jeffrey Halley, a 30-year currency trading veteran and market analyst at Oanda Asia Pacific Pte, reckons the pair could fall below 70 in the next two months. “Aussie-yen is the best bellwether for risk-off,” said Sean Callow, senior currency strategist at Westpac Banking Corp. “I don’t see a quick resolution to the U.S.-China trade war before the Group-of-20” meeting next month, he said. With U.S. President Donald Trump bringing the trade spat back to the fore by threatening to impose tariffs on almost all Chinese imports, investors are looking to benefit not just from potential downside in the Aussie, but also from gains in the yen, which is proving to be the most sought-after haven currency.
Bank of America (BAC) closed at $28.69 in the latest trading session, marking a +1.02% move from the prior day.
Give credit where credit is due. The new leaders of General Electric (NYSE:GE), most notably CEO Larry Culp, have pledged to be more transparent with investors. That honesty already has boosted GE stock, which has gained some 40% so far this year.Source: Shutterstock As bearish as I've been on GE, the optimism makes some sense. Culp worked wonders at Danaher (NYSE:DHR). GE has some valuable assets. Its problem areas -- notably Power and GE Capital -- have weighed on the stock in part because the bad news never seemed to end. As I wrote a little more than two years ago, GE clearly lost investors' trust. In the interim, Culp, CFO Jamie Miller, and other executives have made regaining that trust a priority.The problem -- as General Electric stock climbed above $10 yesterday before falling back -- is that GE is being honest about real problems with the business at the moment. Meanwhile, GE stock might seem "cheap" given its long fall from $30+, but it still has a market capitalization of $86 billion -- and a larger amount of debt and pension expense.InvestorPlace - Stock Market News, Stock Advice & Trading TipsCulp and Miller have time to fix General Electric and they well might succeed. But there's a long way to go and still some success priced in at $10. GE Gets HonestIt's an interesting argument as to whether management's increased transparency has helped GE stock. Certainly, there have been short-term relief rallies, starting with the 7% pop that came when Culp was named CEO at the beginning of October. In late January, GE missed estimates in fourth quarter earnings -- and the stock still soared after Culp projected improvement in the struggling Power business, albeit not until 2020. Meanwhile, 2019 guidance in March similarly disappointed, and yet GE stock rose again, with Culp calling 2019 a "reset year." * 10 Retirement Stocks That Won't Wilt in a Bear Market When Culp talks, investors cheer. And he literally has put his money where his mouth is, buying more than $2 million in GE stock last year. He's also laid out a strategy for GE to be slimmer, more nimble and more financially solid. The dividend was cut again, saving cash flow to pay down debt, and assets are up for sale to drive further deleveraging. Importantly, GE has been crystal-clear in detailing those strategies.The latest example of that came last Wednesday. JPMorgan Chase (NYSE:JPM) analyst Stephen Tusa long has been bearish -- and right -- on General Electric stock. In a note released Wednesday morning, Tusa said the company still was managing the headlines in its Power business, seemingly highlighting a big order number cited by Reuters on Tuesday, a report which Tusa said overstated the early success of the turnaround in Power.It hardly seems a coincidence that hours later, CFO Miller told a conference that the company still expected "significantly negative" free cash flow from Power this year, and that Q1 orders didn't signify a change in trend. Indeed, it looks like GE management wants not even the appearance of trying to obscure the real problems facing Power -- and the business as a whole. Will It Help GE Stock?It's a worthwhile strategy. But it's also worth noting that for all the optimism so far, it hasn't actually worked. General Electric stock is down almost 9% from where it traded the day before Culp's hiring was announced. The YTD rally seems due at least in part to the recovering broad market -- and many of the short-term bumps driven by management commentary have soon fizzled.Meanwhile, GE is being honest but it's important to listen to what management actually is saying. Miller said Wednesday that margins in Power won't recover for at least three years. Culp said in March that free cash flow outside GE Capital would be negative this year.The sale of GE Biopharma to Danaher for $21.4 billion will help the balance sheet. But it also sends a key earning asset out the door, and -- again, according to management -- limits the likelihood of a spin-off of GE Healthcare. Even with GE Capital, which has driven several multi-billion dollar charges in recent years, Culp hasn't made any promises that all the problems are solved. General Electric Stock Has a Long Road AheadThe transparency coming from GE is welcome … and a long time coming. Shareholders and potential investors deserve to know what they're getting into. Perhaps more importantly, a turnaround -- for GE or for any other company -- can't happen until or unless management truly understands what needs to be fixed. * 7 Stocks to Buy that Lost 10% Last Week But the problems here are real. GE stock hasn't collapsed because of negative coverage from Tusa, or pressure from short sellers, or just because former CEOs Jeff Immelt and John Flannery weren't paying attention. The power industry on the whole is shrinking. GE Capital took risks similar to those that hurt big banks like Bank of America (NYSE:BAC) and Citigroup (NYSE:C) last decade; it simply took this long for some of the costs to come to light.So while it's worth appreciating the newfound honesty at GE, it's also worth listening to that honesty. Cash flow is negative. Power is years away from improving while the market for gas-powered turbines may continue to shrink. (Admittedly, some observers see growth.) GE Capital may still have some issues to iron out.Aviation, Renewable Energy, and Healthcare have value but I argued a year ago that even with that strength, the fair value of GE stock looked to be about $9-$11 per share. Honesty is helpful, but it doesn't change that core problem.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Yield REITs to Buy (Even When the Market Tanks) * 5 Great Blue-Chip Stocks to Buy Today * 7 Tech Stocks to Buy That Are Also Perfect for Retirement Compare Brokers The post Honesty Is A Good Start But Not Enough To Boost General Electric Stock appeared first on InvestorPlace.
Futures in New York ended a choppy trading session 0.5% higher, as investors digested conflicting supply and demand signals. For the moment, they were won over by Saudi Energy Minister Khalid Al-Falih’s push this weekend for the OPEC+ coalition to “stay the course" on output curbs. “You’ve got some conflicting influences on the market and the price action today is pretty indicative of that," said Tyler Richey, co-editor at Sevens Report Research in Palm Beach Gardens, Florida.
Bank of America has disclosed the closure of another eight branch locations this week – including four in rural North Carolina.
The brokerage pioneer recounts the company's 1983 "game-changing sale to Bank of America — and how, in the end, the merger almost doomed his organization,” according to a description of the book.
Let's see if Bank of America Corporation (BAC) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.
Pioneer investor Charles Merrill's secret to success was that he knew doing the right thing by his clients was also a profitable business model.
According to a recent study, more than half of older millennials are still banking on Mom and Dad for up to a third of their monthly expenses.
The offshore version of China’s currency has weakened nearly 3 per cent against the dollar over the past two weeks as trade tensions reignited, heading back toward the Rmb6.90 mark that has an established pattern of unnerving investors when approached. A fresh exchange of tariffs between the US and China has cast a shadow over global markets, with investors worried that inflamed trade tensions have put a potential deal at risk.
FT subscribers can click here to receive Brexit Briefing every day by email. Theresa May is into the final few weeks of her premiership. a firm commitment to hold what is in effect a fourth vote on her Brexit deal in the Commons in the first week of June.
New York, NY, based Investment company Aquamarine Capital Management, LLC buys Bank of America Corporation, sells TerraForm Power Inc during the 3-months ended 2019Q1, according to the most recent filings ...
Discover four financial institutions will pay you a cash bonus or match when you roll over assets from an old 401(k) or qualified retirement plan.
While two locally based companies continue to lead the Charlotte region on the Fortune 500 list, there were other shake-ups on this year's ranking.
Bank of America (BAC) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Stocks are having another roller coaster week and many investors are nervously wondering as to where the broader markets may be headed next. Should we all indeed "sell in May, go away, and have a nice holiday?"Source: Pete Souza via Wikimedia (Modified)Today I'd like to discuss the short- and long-term outlook of Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) stock, led by the legendary investor Warren Buffet.Although I like Berkshire Hathaway shares for a long-term diversified portfolio, I expect market volatility to continue in May. Therefore, we can expect price choppiness in Berkshire shares. With BRK.B down about 6% so far this month, any further pullbacks in the coming weeks would be a sign to investors to consider buying into the shares.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Value Investing Makes BRK.B Stock a Long-Term BuyCountless articles and experts praise Berkshire Hathaway's performance over the past six decades and Mr. Buffett's amazing value investing prowess. Indeed, the effect of compounded gains for long-term BRK.B shareholders is tremendous. The 10-year gain tops 187% versus a 161% increase in the S&P 500 index. * 7 Dividend Stocks to Buy as the Trade War Reignites Throughout his investment career, Warren Buffet, his partner Charlie Munger, and their investment team have purchased businesses with sustainable competitive advantages, or "moats," preferably at discounted prices, with the aim of generating long-term value.One other point to note is that Berkshire Hathaway has mostly favored free cash flow (FCF) rich business models. FCF is a powerful metric to analyze the true profitability of a business. It shows if the business is run efficiently to generate enough cash to pay its investors a return.So far, their strategy has worked extremely well. An initial investment of $1,000 in BRK.A stock in 1962 would have become over $16 million today. (The more-modestly priced BRK.B stock came about in a 1996 split.) Although past returns are no indication or guarantee of future returns, I believe that investors can still expect Berkshire Hathaway management to continue to invest in companies that will deliver growth over the long-term. BRK.B Stock's Cash PileMost long-term investors do not want to be constantly thinking about the fundamental strength of the stocks in their portfolios. A robust balance sheet is what has attracted investors to Berkshire Hathaway over the decades.On May 4, BRK.B reported strong first-quarter 2019 earnings that, as always, coincided with the annual meeting, a truly big event for shareholders. Analysts and investors alike also look forward to reading Buffet's annual letter released for the meeting.At the end Q1, Berkshire had about $114 billion in cash. This cash pile has expanded in part due to Berkshire's highly profitable businesses and in part due to the lack of meaningful acquisitions until recently. Investors care a lot about FCF, as it can be used in a discretionary manner. The power of the amount of cash on hand is one of the reasons that the BRK.B stock is so unique. Berkshire Hathaway and Stock PurchasesBuffet authorizes two types of stock purchases: the companies Berkshire Hathaway buys for its own portfolio and BRK.B stock repurchases. Let us look at each to see how either one may create value for shareholders.Purchasing Other Companies: Berkshire Hathaway either buys out entire companies or invests substantial sums of money in other publicly traded companies through common stock purchases. Its portfolio, which covers a wide range of sectors, is not quite like any other publicly traded firm.In general, management does not volunteer any more information on this portfolio than is legally required. Some analysts see the investment giant's stock-picking strategies as its trade secret. Whenever BRK.B announces a new position in a company, the shares of that company shoot up as investors feel Buffet has found value in the price of the stock.Currently, we know that Apple (NASDAQ:AAPL), the largest holding of BRK.B, occupies over 20% of the portfolio. Second in line is Bank of America (NYSE:BAC), followed by Wells Fargo (NYSE:WFC), Coca-Cola (NYSE:KO) and American Express (NYSE:AXP).The company has recently acquired shares in the Brazilian fintech company, StoneCo (NASDAQ:STNE) as well as a stake in the parent company of India's largest mobile-payments service, Paytm. Buffet also announced that BRK.B now holds shares in Amazon (NASDAQ:AMZN). Wall Street has seen these acquisitions as BRK.B's progressive moves to capitalize on high growth trends, including emerging markets. It is possible that, in an attempt to create growth, the company's investing approach could change in the future.Going forward, BRK.B has an enviable amount of cash on hand to finance more potential acquisitions to fuel the growth of the stock. And management will likely be constantly looking for promising opportunities.Repurchasing BRK.B Stock: Long-term followers of Buffett's value investment strategy know that he regards share repurchases as a good way for companies to reward shareholders. Companies then reduce the number of outstanding shares and each shareholder ends up holding a larger piece of the company. He last bought BRK.B stock in the first quarter of 2019.In 2018, the company said that management would authorize share repurchases when it believed that the repurchase price would be "below Berkshire's intrinsic value." Previously, Buffet has relied on a book value multiple of 1.2x when deciding if it may be an appropriate time to buy back shares.In case of further declines in BRK.B stock price, I'd expect management to consider another stock repurchase program, which would act as a support level for the stock price. Whenever Berkshire Hathaway has bought back its shares in the past, the market has applauded the move and BRK.B stock price has gone up. Could BRK.B Stock Finally Pay Dividends?Warren Buffett -- AKA "The Oracle of Omaha" -- is never shy to let investors know how much he loves to invest in stocks that pay dividend income. Yet, he has also made it clear that he does not intend for BRK.B stock to pay dividends.However, many BRK.B shareholders would like to see the group pay dividends, partly because Berkshire Hathaway has so much cash available.In the past, Buffet has argued that management would be able to reinvest that money better than most shareholders. Nonetheless, he has recently admitted that good investment ideas are not easy to find any more.Therefore, the investing legend may indeed have a change of heart soon. Then there could be an upcoming shareholder letter telling investors that the company would pay dividends. And that is likely to be good for the stock price. Short-Term Technical Analysis Shows HeadwindsMany stocks may continue to be volatile in May, and I would not advocate trying to identify stocks that could be immune to a U.S.-China trade war.As a result of the strong run-up in BRK.B stock price earlier in 2019, its short-term technical indicators had become somewhat "overbought," until last week. However, in less than two weeks, BRK.B stock price is down almost 9%. * 6 Trade War Stocks With a Lot of Risk Yet if Berkshire Hathaway stock price declines further, long-term investors may find it particularly attractive. I believe BRK.B stock price is likely to find major support between $195 and $200. At that point, I'd expect BRK.B stock to start to stabilize and then trade sideways until its next earnings report in late July.If you aren't already long BRK.B stock, you may want to remain on the sidelines and wait for a pullback. I'd also consider buying covered calls in conjunction with going long on Berkshire Hathaway stock. Investor Takeaway on Berkshire Hathaway stockIn many ways, there will never be another company like Berkshire Hathaway and many analysts agree that, in the future, the group may not be able repeat its stellar past performance. Yet, the strength of the balance sheet coupled with management's proactive approach, which is firmly grounded in the value investing tradition, will likely enable BRK.B to buy into companies that will fuel its growth. Therefore, despite any potential short-term price weakness, BRK.B stock belongs to a diversified portfolio.As of this writing, Tezcan Gecgil did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 10 Retirement Stocks That Won't Wilt in a Bear Market * 5 Consumer Stocks Ready to Push Higher * 3 of the Best ETFs to Buy for a Play on Gold Stocks Compare Brokers The post Should You Get into Berkshire Hathaway Stock in May? appeared first on InvestorPlace.