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The Bay Area's embrace of risk, failure and new ideas means it remains it a magnet for companies around the world eager to tap into region's innovation.
Jeffry Gates’ Gates Capital Management is an event-driven alternative asset manager founded back in 1996, which managed around $2.69 billion on a discretionary basis at the end of 2016. Besides being its founder, Jeffrey Gates is the current President and Portfolio Manager of the fund, whose headquarters are in the Big Apple. Before launching his […]
Jack In The Box (JACK) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Brazil's largest airline, Gol Linhas Aereas Inteligentes, said in a securities filing on Friday it had priced the offering for a $300 million issuance of convertible bonds maturing in 2024 at 3.75 percent interest per year. Under certain conditions, the bonds can be repaid by the airline with shares of the company that are traded in the New York Stock Exchange. Convertible bonds are not common among Brazilian companies but they can help lower interest rates.
Carvana builds a brand based on selling cars over the internet with an eight-story contraption that dispenses automobiles like a gumball machine.
The cloud services company has reportedly hired investment bankers to take it public this year, as its arch-rival landed a massive funding round that raised questions about whether it too would move forward with an IPO.
Has owning Nio (NYSE:NIO) stock made you seasick yet? It would be surprising if it hadn't. Following its September IPO, which was priced at $6.25, NIO stock surged to a peak of more than $13 three days later, back to less than $6 by late October, rallied to more than $10 last month and then fell back to less than $6 per share, where it stands as of this morning. NIO Inc. stock has put investors through the wringer.Source: Shutterstock And some shareholders aren't happy about the volatility… particularly the volatility that's inflicted damage on their portfolios. In fact, a class-action lawsuit has been launched for those who invested in NIO and feel they were duped.It may be a colossal waste of your time to jump on that bandwagon, though. The volatility of NIO stock was inevitable, and in the end its volatility will be irrelevant to most judges and juries.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Stocks on the Rise Heading Into the Second Quarter That kind of uncertainty is what investors who bought NIO stock signed up for. A Typical Post-IPO StoryNIO has been called the Tesla (NASDAQ:TSLA) of China, and for good reason. While many electric vehicles to-date have looked and felt like glorified go-karts, Nio -- like Tesla -- understands that form and function can also look cool. Nio's ES8 is a luxury vehicle.NIO is also a relatively new company, however. It was founded in 2014, only started to make vehicles in late 2017, and NIO stock only went public in September of last year.NIO stock has also dished out the usual post-IPO swings. The volatility wasn't caused by changes in the company's outlook. Instead, it's a reflection of the market's ever-changing perception of what Nio is, and where it's going.But Tesla stock was also all over the map in its early days, as are most newly-minted stocks.And that's what makes the class-action suit by at least a few investors, bluntly, a little bit sad, if not terribly surprising.The key tenets of the suits are (there are more than one, but they are all based on the same main complaint) summed up in a filing by one group of plaintiffs:"The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on JAC Auto to manufacture its vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO's sales; and (3) as a result, Defendants' statements about NIO's business, operations, and prospects were materially false and misleading at all relevant times."Voiced in fairly typical legal-ese, it sounds dastardly.Read it again, though. Is NIO actually "guilty" of anything? Poor ArgumentsIt's true that Nio will continue to work with JAC to develop electric vehicles. But the company never gave a definite time frame as to when it might build its own facility.Here's the kicker on the matter: Nio is actually trying to help itself and the owners of NIO stock by not taking on the steep expense and risk of committing to its own plant right away. Ironically, one of the chief complaints about Tesla in its early stages was how much it spent (and arguably shouldn't have) on building its own production facility.As for the subsidy issue, the company has actually said little about the impact of subsidy changes. It would be naive on everyone's part, however, to think that a termination of subsidies wouldn't create some sort of headwind for NIO stock. That is, to borrow a term from the patent-law world, "obvious" and therefore should not be grounds for a lawsuit.Moreover, the plaintiffs haven't shown that subsidy changes have had a quantifiable, verifiable impact on NIO's business.As for the charge that the company's business, operations, and prospects are "materially false and misleading at all relevant times,"clear definitions of "material," "misleading" and "relevant" must be provided. Those are tricky words for any judge or jury to define.If the class-action suit ends up being successful, then almost every company in the world that's ever disappointed investors for any reason at any time is now subject to litigation. That's just not going to happen. The Bottom Line on NIO StockThe real story isn't the class-action lawsuits that are taking shape. Indeed, it would have been surprising if such litigation didn't materialize. Most companies whose stocks drop in the wake of their IPOs face some sort of legal pushback because we've become a litigious society.Facebook (NASDAQ:FB) -- one of the most rewarding investments since the subprime meltdown -- was sued shortly after going public in 2012 for allegedly covering up worries about its growth prospects. It settled for a laughable $35 million last year, which was probably cheaper than continuing to fight the case.The real story is that this sort of legal and even philosophical wrangling is all part of the growing pains that any new company has to face.Nio didn't do anything wrong. All equity investments always carry some risk. The shareholders of a company don't receive a contract.When you own a stock, it's understood that you're granting decision-making authority to the company's management, who have every right to change their minds about issues. It's a given that a company may never turn a profit; it's possible that a company may crash and burn. Just ask the people who bought Groupon (NASDAQ:GRPN) stock based on the company's brilliant concept that, as it turns out, isn't a terribly profitable one.Groupon settled its post-IPO suit for a scant $45 million.The plaintiffs suing Nio probably won't be able to prove any actual malfeasance by the company. At best, they will prove that they are frustrated because they bought into the hype of the media and the mob vis-a-vis NIO stock.Welcome to the stock market.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Specialty Retail ETFs to Buy the Industry's Disruption * 5 Stocks To Buy for the Happiest Employees * 3 Out-of-Favor Consumer Stocks to Buy Compare Brokers The post Class-Action Suits Shouldnat Stress, or Surprise, Nio Stock Owners appeared first on InvestorPlace.
reported a messy fiscal fourth quarter due to one-time charges and expenses related to an acquisition. Same-store sales rose more than 5%, but the non-recurring items dragged full-year 2018 adjusted earnings per share down to $1.65, versus a $1.75 estimate for the year ended Feb. 2, 2019.
There's no denying that electric vehicles are a trend worth watching. The auto industry looks likely to experience a major shift over the next few years as autonomous vehicles and electric cars gain momentum, so investors are wise to be adding EV companies to their portfolios. While Tesla (NASDAQ:TSLA) is likely the first name to come to mind when it comes to electric vehicles, Chinese counterpart Nio (NYSE:NIO) has also been on the radar in recent months. Source: Shutterstock * 5 Cloud Stocks to Help Your Portfolio Fly After popping at the end of February on the heels of a 60 minutes special that cast the firm in a favorable light, NIO stock has lost nearly half of its value over the course of a few days and hasn't been able to recover since. At just under $6 per share, NIO is trading 40% lower than it's all-time high of $10 per share. Does that mean now is a great time to pick up Nio Inc. stock, or is this dip the beginning of a larger downward trend? Earnings DisasterThe reason for NIO stock's decline was a worse-than-expected earnings report. The firm's fourth-quarter results showed a $509.5 million net loss, but even more troubling was NIO's lackluster forward guidance. Management is expecting deliveries to be weak for the first half of the year and plans to build a Nio factory have been put on hold for now. InvestorPlace - Stock Market News, Stock Advice & Trading TipsA big reason for the gloomy outlook is uncertainty regarding the Chinese economy and questions about whether or not the government will subsidize electric vehicles purchases going forward. No matter the country, the success of automakers is closely tied to economic health. But in the case of China, that uncertainty is underscored. Historically, Beijing hasn't been transparent about the nation's economic health and that creates an added layer of risk for Chinese stocks -- that's especially true for NIO stock, whose luxury cars are highly dependent on the ultra-rich having money to spend. Overly Excited InvestorsAnother reason we've seen such a large decline in NIO stock is the fact that it's rally was essentially based on thin air. One 60 Minutes special shouldn't be enough to take a stock 30% higher -- especially considering it didn't reveal any earth-shattering information about the company itself and its growth potential. That added hype just before Q4 earnings was disastrous for NIO stock, especially considering management had some bad news to deliver. Future PotentialSo, now that NIO stock has come back down to earth, investors need to consider whether or not the firm has potential to rise significantly in the future. The short answer here is yes. Right now, Nio is the only luxury electric vehicle company in China, a country with the largest automobile market in the world. Electric vehicles are catching on fast there as well and, if Beijing continues to promote their use through legislation and subsidies, Nio would certainty benefit. Many point to NIO as the "Tesla of China" and, from that perspective, it looks like a pretty good investment opportunity. After all, who wouldn't want to jump in a time machine and buy shares of Tesla back in 2013 when the share price was in the mid-$30s. Risky BetHowever, NIO stock isn't quite Tesla. For one thing, Tesla was first. Sure Nio is first in China, but it still has to compete with competition from TSLA and others as it grows larger. Second, and perhaps more importantly, is the fact that NIO is a long way from being profitable. Gross margins are negative for Nio right now -- that means it will be a long time before the firm is able to bring prices down and appeal to a wider audience. Tesla is currently working to bring prices down and expand its addressable market, but that has been incredibly difficult to do while still preserving profitability. The Bottom LineNIO stock is likely to make its way higher in the long-term, but it's difficult to say just how long we're talking. It could be almost a decade before NIO makes a meaningful jump higher and, during that time, we could see a lot of volatility due to economic conditions. * 10 Stocks on the Rise Heading Into the Second Quarter In short, NIO is a risky bet without a clear path to reward and for that reason, I'm going to stick to the sidelines.As of this writing Laura Hoy did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Invincible Stocks Leading The Bull Market Higher * 5 Dow Jones Stocks Coming to Life * 7 of the Best High-Yield Funds for 2019 and Beyond Compare Brokers The post Should You Buy the Dip in NIO Stock? appeared first on InvestorPlace.
Stocks declined into the Federal Reserve announcement, which is a much better setup than a rally into the announcement. The Fed is keeping rates steady and looks like it may not hike for the rest of the year. That's got shares slightly higher on the day, as bulls cheer the move. Let's look at the S&P 500 to start off the top stock trades list. Top Stock Trades for Tomorrow 1: S&P 500 Some investors like the index, others like the SPDR S&P 500 ETF (NYSEARCA:SPY). Either way though, they tell the same story. You know the old saying, "Don't fight the Fed?" Well, don't. They basically just said they are not looking to do any derailing of the stock market. That should bode well going forward and so far, investors are reacting favorably. Of course, the press conference could always change things, but as it stands, the Fed is dovish and that's reason enough not to fight it.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 4 Unexpected Trade War Stocks That Will Benefit From an End to Tariffs So where does that leave the market? After a strong rally off the March 8th lows (the gap down below the 200-day), the index was showing signs of tiring coming into the meeting. But the S&P 500 made a sweet bounce off the 10-day moving average and prior fourth-quarter resistance near 2,810. So long as these levels hold as support, there's little reason to get bearish. The index has made a series of higher lows and so far the trend is higher. Don't fight the Fed and don't fight the trend. That is, until they change their tone. Top Stock Trades for Tomorrow 2: NetflixAre we finally getting the breakout we've been waiting for in Netflix (NASDAQ:NFLX)? This choppy market has resulted in painfully long wait times for these types of swing trades, but if we don't get stopped out, they're showing signs of life. With Netflix, it seems like every trader on Twitter has had their eye on this one. The 20-day moving average is acting like a springboard for NFLX as it propels over downtrend resistance. This downtrend has batted NFLX down several times over the past month, frustrating a number of investors. But with Wednesday's 4%+ move, investors are hoping the gains will stick. Look for some follow through on Thursday. Traders may want to see that this breakout level holds, buying a slightly lower open on Thursday that quickly goes green and pushes higher. $380 is my first target and $390 doesn't seem unrealistic if the overall markets hold up. Top Stock Trades for Tomorrow 3: FedExEven after FedEx (NYSE:FDX) missed on earnings and revenue estimates and cut its full-year outlook, the stock isn't get too hammered on the day. Let's keep it simple. It's imperative that bulls keep FDX stock over $170. Should it hold, it will solidify the stock as rangebound between $170 and $185, giving bulls hope that some upside could still exist. More important than upside though, is protecting the downside. Should $170 hold, it means FDX won't take out the March lows, which means it won't revisit $150. So the bottom line? FDX needs to stay north of $170, otherwise it's in trouble. Top Stock Trades for Tomorrow 4: Nio Like FedEx, keep it simple with Nio (NASDAQ:NIO). The electric car group -- Tesla (NASDAQ:TSLA) included -- has been struggling lately. In this case, NIO has been trading between ~$5.90 support and ~$8.10 resistance. Struggling with the former, bulls could be in trouble should this area turn to resistance. If it does, the $5.35 lows are on the table and below that, Nio is in no man's land. Bulls can be long with Nio over $6, but be leery if it has trouble holding this level. Top Stock Trades for Tomorrow 5: RokuRoku (NASDAQ:ROKU) has been tough. I love the name as an investment, but as a trade, it looked it was setting up as a nice short this morning. The afternoon bounce has me rethinking it though. $64 is a significant level, dating back to the third and fourth quarter. With the 20-day moving average holding up as support, as well as this $64 level and uptrend support, ROKU stock still looks okay on the long side. * 5 Cloud Stocks to Help Your Portfolio Fly However, should it lose these levels, it could see $60 in a hurry. That was my short thesis this morning, as ROKU was below these marks. That may look like a small move on the charts, but that would represent a fall of almost 9% from current levels. Over $67.50 though and Roku may fill its gap back up near $71. If it does, new highs are possible. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long ROKU. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Invincible Stocks Leading The Bull Market Higher * 5 Dow Jones Stocks Coming to Life * 7 of the Best High-Yield Funds for 2019 and Beyond Compare Brokers The post 5 Top Stock Trades for Thursday: S&P 500, NFLX, FDX, ROKU appeared first on InvestorPlace.
Moody's Investors Service withdraws all ratings of TA Mfg Limited (UK) ("TA Mfg"), including the Ba2 corporate family rating and stable outlook following repayment of all rated debt. On March 14, 2019, TransDigm Group Incorporated ("TransDigm") completed its acquisition of Esterline Technologies Corporation ("Esterline"), the parent company of TA Mfg. All of TA Mfg's debt has been repaid or will be redeemed. TA Mfg is now a wholly owned subsidiary of TransDigm.
Mizuho Downgrades Wendy’s from 'Buy' to 'Neutral'(Continued from Prior Part)Stock performance The Mizuho downgrade appears to have led a fall in Wendy’s (WEN) stock price. Today, at 10:30 AM EST, the company was trading ~1.2% lower from its
Mizuho Downgrades Wendy’s from 'Buy' to 'Neutral'Wendy’s downgradeMizuho downgraded Wendy’s (WEN) from “buy” to “neutral” today and also lowered its 12-month price target from $20 to $18. The new price target implies an upside
DSW Inc.'s plan to focus on private-label merchandise through its Camuto Group acquisition comes with a risk, according to Canaccord Genuity analysts. DSW, which has changed its name to Designer Brands with a new ticker, "DBI," that will go into effect April 2, announced during its Tuesday investor day that it will focus on exclusive merchandise. "This increase in private label goods made by Camuto will over time replace the 700 labels (20% of the mix today) that do not warrant shelf space," Canaccord wrote. "While we see the potential behind this strategy, we also see risks DSW may not be accounting for, namely risk to Camuto's private label wholesale business with Dillard's and Macy's." Canaccord analysts are concerned that Dillard's Inc. and Macy's Inc. would move their business elsewhere to reduce competition. "[T]hat is just what we are seeing evidence of with Steve Madden having won a portion of the Dillard's private-label business," Canaccord said. Canaccord rates DSW shares hold with a $25 price target, down from $28. DSW stock closed Wednesday down nearly 13%, and are down 4.5% in Wednesday trading. Shares have sunk 14.5% in 2019. The S&P 500 index has gained 12.6% for the year to date.
Are Elon Musk and Tesla Boosting Q1 Car Orders?TeslaSince 2011, Tesla (TSLA) stock has yielded positive yearly returns in all of the years except in 2016. In 2016, the company unveiled Model 3—its first mass-production electric car. Tesla also
Can US Companies Keep Both Trump and Investors Happy?(Continued from Prior Part)Electric vehicles To complicate things further, automakers need to conserve cash and spend it judiciously on new technologies such as autonomous vehicles. Automakers have
Sage Therapeutics (NYSE:SAGE) is popped yesterday on FDA approval of its postpartum depression drug -- the first of its kind. So far, SAGE stock is up 3%, but this on the back of a more than 70% run up year-to-date in anticipation of the news.Source: Shutterstock Postpartum depression is a sometimes life-threatening condition that can happen before or after a woman gives birth to a child. In serious cases, she may harm herself or her child as a result. It is estimated that as many as one in nine women who have recently given birth suffer from postpartum depression, but it is a little talked about condition, so up to half of cases go unreported. But now there is a specific treatment. Zulresso was approved as an IV treatment to be administered in a certified healthcare facility over 2.5 days. With no other drug on the market to treat postpartum depression, Sage has no competition to worry about. And with a market cap of $7.8 billion -- lower than the addressable market potential for this treatment -- biotech investors cannot afford to ignore SAGE stock. Efficacy of ZulressoIn two clinical studies where participants received Zulresso or placebo, those who were treated showed an improvement of depressive symptoms compared to the placebo group.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSage Therapeutics recently raised $500 million through a SAGE stock offering on February 25. This cash infusion will give the company the capital it needs to roll out Zulresso following its approval. Sage Is Sitting on Plenty of CashIn its fourth quarter, SAGE lost $3.38 per share on revenue of just $0.28 million. But it ended the period with $922.8 million in cash, cash equivalents and marketable securities. This is up from $518.8 million at the end of 2017. Sage's management said it has enough cash on hand to fund expenses until the second half of next year (2020).Sage accelerated its R&D activity, which increased such expenses to $88.8 million, up from $50.9 million. IT spent $282.1 million in R&D for the full year 2018. Sage spent more on discovery efforts associated with identifying new clinical candidates, along with additional indications in its three CNS franchises. After the FDA approved Zulresso, R&D costs associated with Phase 3 clinical development may shift to marketing and G&A spend instead. Ahead of the launch, Sage spent $201.4 million in G&A costs, up sharply from $62.9 million last year. Sage's Full PipelineWithin Sage Therapetics' pipeline are more promising drugs. For example, SAGE-217 is being tested for efficacy in treating major depressive disorder, postpartum depression, biopolar depression and insomnia. Meanwhile, SAGE-324 has an indication for Parkinson's Disease, Essential Tremor and Epileptiform Disorders. The Bottom Line on Sage StockEven after Sage stock's recent rally, 10 analysts who follow the stock have an average12-month target price of $198 -- according to Tipranks. That's more than 25% upside. Biotech investors who are looking for similar stocks could consider Neurocrine Bio (NASDAQ:NBIX) or Zogenix (NASDAQ:ZGNX). * 5 Cloud Stocks to Help Your Portfolio Fly Sage Therapeutics has a promising drug that will not face any competition. Markets already expect strong sales for Zulresso. The company has a strong cash balance and plenty of more drugs in the pipeline. For these reasons, biotech investors should take a serious look at SAGE stock.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Invincible Stocks Leading The Bull Market Higher * 5 Dow Jones Stocks Coming to Life * 7 of the Best High-Yield Funds for 2019 and Beyond Compare Brokers The post Sage Stock Pops on FDA Approval for Postpartum Depression Drug appeared first on InvestorPlace.