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Endo International and Allergan could avoid going to trial in a landmark case out of Ohio accusing pharmaceutical companies of marketing practices that preceded the opioid epidemic.
VMWare (NYSE:VMW) has seen a number of iterations over its long Silicon Valley history (a long history by tech firm standards, that is).Source: Sundry Photography / Shutterstock.com It was founded in 1998 in Palo Alto, California. Just a few years later, EMC -- which is now a part of the Dell Technologies (NYSE:DELL) family -- acquired VMWare, adding enterprise-level cloud-based platforms to the arsenal of a well-established tech firm. EMC had been a pioneer in the data storage space and then expanded into networked storage platforms. VMWare Stock's Long HistoryVMW stock started trading in 2007, as an adjunct to the slow and steady business that EMC had developed. VMW stock was the growth component for the future. Shortly after, Dell purchased Perot Systems for $3.9 billion to add some gravitas in the data storage space. Then Dell just kept growing.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn 2015, Dell Technologies purchased EMC. At $67 billion, it's still considered the largest acquisition in the tech space. The move was to help Dell get more involved in the enterprise market since its personal computers business was changing as mobile and enterprise-level cloud computing were making their potential known. * 10 Undervalued Stocks With Breakout Potential By 2018, Dell was making headlines once again. It returned as a publicly traded company after six years as a private business and tried to manage a reverse merger between itself and VMWare -- which it acquired through EMC. The deal didn't happen and VMWare still remains an independent subsidiary of Dell.The company is still controlled by Dell but it operates on its own. And given its recent activities, it is hungry to carve a niche in the enterprise cloud and hybrid cloud sectors. What's in Store for VMW?Basically, there are public clouds like Amazon's (NASDAQ:AMZN) Amazon Web Services, Microsoft's (NASDAQ:MSFT) Azure and Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) Google. And then there are private clouds, set up by companies that only allow employees to access them.Now that the cloud is such a large part of many businesses, the hybrid cloud is becoming the next step. It allows customers to access the data they need through the public cloud and allows the company to share data from the private cloud or its data centers.This is far more complex than it sounds and it takes a significant amount of security and engineering to work seamlessly.VMW has been on a buying spree recently. In June it said it was buying cloud-application delivery firm Avi Networks. In July it was artificial intelligence chip virtualization company Bitfusion.And less than a week ago, VMW announced it was buying Pivotal Software (NYSE:PVTL), a cloud-based software and IT development firm. Dell already owns a big stake in Pivotal, and VMW owns some as well. This deal is a situation where one owner is buying the stake of the other owner, who in turn controls the buyer.Once you work through that one, suffice it to say that VMW stock is looking to stake a claim in the burgeoning world of cloud-based systems. The Bottom Line on VMW StockThe stock is off 3% for the year but up 5% year-to-date. Some of the trouble has been the U.S.-China trade war and the fact that enterprise purchases are expected to slow. But VMW stock has been consolidating its position during this lull, which can be a good time to buy quality cheaply.My Portfolio Grader rates VMW stock a "B" here. It's a good value for a long-term growth investor but the short term may not be smooth.Louis Navellier is a renowned growth investor. He is the editor of four investing newsletters: Growth Investor, Breakthrough Stocks, Accelerated Profits and Platinum Growth. His most popular service, Growth Investor, has a track record of beating the market 3:1 over the last 14 years. He uses a combination of quantitative and fundamental analysis to identify market-beating stocks. Mr. Navellier has made his proven formula accessible to investors via his free, online stock rating tool, PortfolioGrader.com. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Should You Buy VMWare Stock Now? appeared first on InvestorPlace.
(Bloomberg) -- Equity hedge funds are enjoying their strongest performance since 2009 -- with the S&P 500 index up 16% this year -- but Goldman Sachs Group Inc. warns that crowding is a risk.Funds have benefited from both a rising stock market and successful stock selection, strategists including Ben Snider and David Kostin wrote in a note Aug. 20. They’ve also concentrated their holdings into a reduced number of industries, such as health care, and into single names, particularly Amazon.com. Inc. When rallies peak, too much professional money can try to get out of the same stocks simultaneously and exaggerate declines.“Funds continue to lift portfolio weights in their top positions, which are increasingly also the top positions of other funds,” the strategists wrote. “These dynamics, along with higher leverage, lower portfolio turnover, and declining market liquidity, have boosted the performance of momentum stocks while also increasing the risk funds face from crowding.”They added that this will “make funds particularly vulnerable to a potential market unwind, particularly if accompanied by the decline in liquidity that typically coincides with falling risk appetite.”Investment banks from Goldman to Morgan Stanley increasingly study the relative positioning of funds that compete with each other to beat benchmarks. The crowding issue is in focus this month, as August has seen a spike in stock and bond markets volatility. Hedge funds rushed for safety last quarter as Treasuries rallied and concerns about economic slowdown flared, regulatory filings compiled as of last week showed.Goldman found the most popular long positions had lagged the S&P 500. The favorite short positions trailed by even more. Overall, the average equity fund return in 2019 has been 9%.Alongside the success comes some concern as well, after examining the holdings of 835 hedge funds with $2.1 trillion of gross equity positions at the start of the third quarter.Goldman found a rotation continued from technology into health care, which is now the sector with the largest overweight versus the Russell 3000 Index, which like the S&P 500, is also up 16% this year. Overweights in health care and industrials are at a 10-year high, the report said. Funds trimmed positions in semiconductors and “other stocks exposed to U.S.-China trade conflict,” according to the strategists.Also, late June and July saw a sharp rise in exposures as the Federal Reserve began to cut rates and U.S.-China trade relations appeared to thaw, the strategists said. But leverage has been trimmed again in August. While the S&P 500 rose in June and July, it’s down 1.8% so far this month. Amazon.com appeared most frequently among the 10 largest holdings of funds, followed by Facebook Inc. New names on the list of the top 50 such stocks include Allergan Plc and Micron Technology Inc.(Adds S&P 500 performance in recent months in penultimate paragraph.)To contact the reporter on this story: Joanna Ossinger in Singapore at email@example.comTo contact the editors responsible for this story: Christopher Anstey at firstname.lastname@example.org, ;Samuel Potter at email@example.com, Todd White, John ViljoenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Jeffrey Ryan Stewart, the biopharmaceutical firm’s senior vice president of U.S. commercial operations, paid $1 million last week for stock trading near a 2½-year low.
(Bloomberg Opinion) -- Investors in Argentina would seem to have no peers among global losers.After voters resoundingly rejected President Mauricio Macri and his free-market policies in primary elections earlier this month, the stock market, as measured by the S&P Merval Index, lost almost half its value in the biggest crash in at least six decades. The country’s currency, the peso, suffered its biggest decline since December 2015. The government’s benchmark-equivalent bond plummeted a record 26% to trade at 56 cents on the dollar, according to data compiled by Bloomberg.Argentina, whose economy is the third largest in Latin America, was already reeling from recession and inflation as high as 57.3% in May. The fear among investors now is the return to power of the Peronist party that traditionally stiffed creditors, defaulted on the nation’s bonds and rigged economic data so much that lenders had no incentive for a rescue.Amid the financial carnage, however, are two companies based in Argentina that highlight the country’s potential and showcase possible building blocks for its recovery. They are MercadoLibre Inc., Latin America’s largest online marketplace and biggest provider of online payment and digital financial services, and Globant SA, a software developer and technology services provider. Both are listed in the U.S., but if they were listed in their home country they would be 1.5 times the value of the local stock market, according to data compiled by Bloomberg. MercadoLibre and Globant increased their worldwide workforces 30% and 31%, respectively, to 7,239 and 8,384 in 2018 when most of the nation’s employers were either letting people go or not hiring during the recession.MercadoLibre is the most valuable publicly traded company based in Argentina, with a market value of $30 billion and revenue last year of $1.4 billion. Chief Executive Officer Marcos Eduardo Galperin, who is 47, started the company in his Buenos Aires garage in 1999 after studying at Stanford University. When he was a student, he successfully pitched the idea for the company to an investor while he was driving him to the airport. The company he has built now has operations in 18 countries and is referred to frequently as the Amazon.com of Latin America, with a healthy dose of PayPal thrown in because of its successful payments system.MercadoLibre, which went public in 2007, has gained 442% during the past five years and is still delivering a 109% total return this year. Its revenue is expected to increase 53% this year and 39% in 2020, according to analysts surveyed by Bloomberg. And while its 48% gross margin is down from previous years, it has been investing heavily in its businesses.Even with that success, Galperin sees a lot more room for growth. “Latin America has 600 million people and we have roughly 50 million people using our platform, up from 4 million” when the company went public, he said during an interview earlier this month at his Buenos Aires headquarters. MercadoLibre “can grow another 10 times from 50 million to 500 million” because “the number of transactions that are done per user in Latin America is still a 10th of what is happening in China.” The company derives only 21% of its revenue inside Argentina, so there’s plenty of room for expansion there.Martin Migoya, the 51-year-old chairman, CEO and co-founder of Globant, shared Galperin’s views about growth opportunities, calling the digital space “the largest single opportunity in the planet today.” His company, which was started in 2003, develops software and services for an array of mobile, social media, cloud-computing, gaming and big-data purposes, including artificial intelligence and machine learning. Its clients, 90% of which are in the U.S., have included such prominent companies as Google, Electronic Arts and Walt Disney.During an interview earlier this month at his Buenos Aires headquarters, Migoya said Globant, which generates only 5% of its sales in Argentina, is especially prepared to benefit from “a $5 trillion market in the next five years” made up of “digital transformation and cognitive transformation, which means applying artificial intelligence to pretty much everything.”Globant, which has a market value of $3.3 billion and generated $522 million in revenue last year, has gained 621% over the past five years and is returning 60% this year. Its sales are expected to increase 24% in 2019 and 21% next year, according to analysts surveyed by Bloomberg.The performances of MercadoLibre and Globant haven’t gone unnoticed. Toronto-based Dynamic Power Global Growth Fund, managed by Noah Blackstein, produced the largest total returns during the past 10, five and one years among more than 1,000 global mutual funds, according to data compiled by Bloomberg. MercadoLibre is the largest holding, accounting for more than 7% of the fund, according to the most recent filing. Globant makes up 5%.Blackstein looks for companies, not countries, when he invests. “My focus is finding the biggest opportunities for growth wherever they lie in the world, be they in technology, health care and retail,” he said in a July interview.By his measure, Argentina has some of the brightest prospects. As the country descends once again into political and economic instability, MercadoLibre and Globant can remind citizens and investors alike that a downward spiral doesn’t have to be the status quo.\--With assistance from Shin Pei.To contact the author of this story: Matthew A. Winkler at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Matthew A. Winkler is a Bloomberg Opinion columnist. He is the editor-in-chief emeritus of Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
In a series of recent research notes, German financial giant Deutsche Bank weighs in on three stocks with excellent return potential – on the order of 30% or more. Let’s take a close look at each of these companies, and at Deutsche Bank’s bullish stance.VMware (VMW)This cloud-based software company has been making headlines recently with its interest in acquiring Pivotal Software (PVTL). San Francisco-based Pivotal specializes in cloud applications and development tools; from the standpoint of fit, an acquisition could make sense and benefit both companies. It may also bring benefits to Dell Technologies (DELL), which owns controlling stakes in both companies. VMware, however, brings approximately 80% of Dell’s annual income.Of the potential merger, VMware released a statement saying in part, “VMware regularly evaluates potential partnerships and acquisitions that would accelerate our strategy. Pivotal is a long-term strategic partner and we’re already successfully collaborating to help enterprises in their application development and infrastructure transformation.”Deutsche Bank’s Karl Keirstead, a 5-star analyst on TipRanks, takes a generous view of the proposed M&A move: “The strategic logic is there, as PVTL’s focus on containerized workloads and its leading position as a development platform for new cloud-destined apps fits with VMware’s desire to shift its mix to container and cloud-native infrastructure technology.”Keirstead goes on to rate VMW as a Buy with a price target of $190, indicating a 31% upside potential. He says, as his bottom line, “VMware shares look attractive for a 10%+ growth story making all the right moves to stay relevant in a cloud-centric world.”Where does the rest of the Street side on this software maker? It appears mostly bullish, as TipRanks analytics demonstrate VMW as a Buy. Out of 6 analysts polled in the last 3 months, all 6 are bullish on VMware stock. With a return potential of nearly 37%, the stock’s consensus target price stands at $199. (See VMW's price targets and analyst ratings on TipRanks)Palo Alto Networks (PANW)Palo Alto hasn't had a great month, with shares falling nearly 13%. But things aren’t as bad as they may seem, argues Deutsche Bank’s Keirstead.Palo Alto Networks is a Silicon Valley cybersecurity company developing advanced firewall and secure-cloud systems. Cybersecurity is a vital – and lucrative – business in our modern age of digital information, but recent report by IBM underlines it for those have not been paying attention: malware attacks are up 200% so far this year.While business is good, the combination of US-China trade complications and a strong US dollar are putting downward pressure of the 2H19 outlook. And continuing churn among upper management at PANW also has investors worried. The company took on a new CEO last year, and the Executive VP of Worldwide Sales recently announced his own departure for the end of September.Keirstead, in a review of PANW, takes note of the executive turnover, and says, “This level of Sales change, combined with the 2018 additions of a new CEO and President, is unsettling, but we haven’t picked up evidence of a material tone downtick on PANW fundamentals from our checks and we reaffirm our BUY rating.” He goes to say, in his bottom line, “We still lean bullish. Our unchanged PT [is] $275...” That price target implies an upside of nearly 40%.Keirstead’s outlook is in line with the analyst consensus on PANW -- Strong Buy. The stock has received 20 'buy' ratings in the last three months, compared to just 2 'hold' and 1 'sell' ratings. Shares are priced at $198, so the average price target of $266.86 suggests an upside potential of 35%.Tapestry (TPR)Originally Coach, the familiar maker of purses and other accessories changed its name and ticker symbol back in 2017. In its fiscal Q4 earnings report last week, TPR met the expected EPS of 61 cents per share. Net sales revenue, however, missed the target by 1%, coming in at $1.513 billion instead of the forecast $1.534 billion. The gross annual profit was $1.017 billion was up from one year ago, but gross margins contracted slightly to 67.3%. In short, the earnings release was a mix of good and bad news.The stock price dropped sharply after the quarterly report, from $25 to $21. However, Deutsche Bank sees the lower price as a buying opportunity for an otherwise strong company.In his research note, 4-star analyst Paul Trussell says, “The Coach brand sustained its international momentum and saw a sequential acceleration in North Americ, reassuring investors that the brand remains healthy with its FCF generating power intact.” Trussell’s $33 price target reflects his confidence – it suggests an upside of 57% for TPR stock.Overall, TPR gets a Moderate Buy rating from the analyst consensus, based on a near-even split: 10 of the stocks recent reviewers have rated it a Buy, while 9 say to Hold. However, even the low-ball price target is higher than the current share price, so it would seem that even the skeptics see potential here. With shares trading at $20.97, the average price target of $28.44 implies an upside of ~38%. (See TPR's price targets and analyst ratings on TipRanks)
Allergan's (AGN) pending merger with AbbVie, positive pipeline and regulatory updates and increase in sales guidance twice are driving shares up this year.
CRM stock has lagged software group peers as investors digest big acquisitions, such as Tableau. Could digital transformation growth drive a Salesforce stock rally.
Endo's stock price surges after the company announces a settlement with Cuyahoga and Summit counties, removing the company from a potentially damaging trial in state court in October.
Allergan is said to be discussing paying $5 million while Endo is close to an agreement to pay $10 million, according to a report.
EVP, CLO & Corp Secretary of Workiva Inc (30-Year Financial, Insider Trades) Troy M. Calkins (insider trades) sold 100,000 shares of WK on 08/16/2019 at an average price of $56.25 a share. Continue reading...
Water is so local and so different, executive vice president of the Water Council Jim Stern, said during the Water Council meeting with Wisconsin manufacturers and U.S. Sen. Tammy Baldwin (D-Wis.). The hour-long panel discussion with representatives from large and small water treatment and manufacturing companies including A.O. Smith, Badger Meter and Baker Manufacturing discussed some of the water challenges present in Wisconsin and the technology being used to combat them.
The NASH liver disease treatment market is growing with biotech companies like Intercept and Genfit in late-stage tests. Experts say the market for a successful drug could be worth billions.
Pure Storage's (PSTG) robust adoption of FlashArray & FlashBlade solutions is driving growth. However, currency headwinds, and high tariffs owing to trade war between the U.S. and China remains headwind.
The necessary technologies to usher in the 5G era -- particularly in the United States -- are only just now becoming available, potentially making Nokia (NYSE:NOK) a solid defensive play at this point. 5G is Coming, Ready or NotSource: Shutterstock 2019 isn't going to be the "year of 5G." Although 5G service is available in some select locations, it's not yet offered in most places. Smartphones must also be built with 5G-compatible components, and most of the smartphones in use today don't meet that criteria.However, that picture could be, and likely will be, different a year from now.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAT&T (NYSE:T) says it will offer nationwide 5G by the end of 2020. Ditto for T-Mobile (NASDAQ:TMUS). Just as importantly, many more 5G-compatible major-brand phones will be readily available in 2020. The first 5G-capable iPhone from Apple (NASDAQ:AAPL) is supposed to debut next year, which has already inspired something of a race.Consumers will do their part, too. Once some of them experience wireless connection at least speeds ten times faster than the current 4G norm, they'll clamor for game-changing 5G devices. * 7 Great Small-Cap Stocks to Buy Deal Growth Bodes Well for Nokia StockThe infrastructure needed to make 5G a reality is being put in place now.In June,NOK announced it had inked 42 different 5G-related hardware deals (that number has since been upped to 45) across the globe. According to NOK, that's more than any other supplier has confirmed. Based on those numbers, it appears that Nokia's rival, Ericsson (NASDAQ:ERIC). is winning about one-third fewer 5G deals than NOK.Both statements are contentious, and questionable. Huawei says two-thirds of 5G installations outside of China utilize the hardware and corresponding software it offers, while Ericsson paints an obscure picture that at least implies it's holding its own against NOK.One thing is clear, though; Nokia is winning some business, but most of the deals have yet to generate reportable revenue that can meaningfully boost Nokia stock. Those deals won't generate reportable revenue until the installations they're facilitating are completed and up and running.How much revenue NOK has already lined up from its deals isn't clear, and some of the projects can still be canceled.By and large though, NOK has already lined up a great deal of new, incremental revenue that will start flowing in the second half of 2019 and then grow through 2020. Barring an outright, global economic meltdown, most of those 5G contracts should be completed by the end of next year. New ones will be added in the meantime. Looking Ahead for NOK StockConsumers have to have food and their mobile internet service, their usual guilty pleasures. As a result, those are two of the few slivers of the market that are shielded from macro pain.Nokia's top line is expected to drop 1.5% this year, but next year's anticipated 3% improvement is more significant than it may seem to be on the surface. That's because the rebound sets the stage for considerable earnings growth.While this year's average outlook by analysts for a profit of 27 cents per share of NOK stock only matches last year's EPS, the pros, on average, are calling for its EPS to jump to 41 cents in 2020. Most of that top and bottom line growth is the result of anticipated new 5G-related revenue.Assuming Nokia's 2020 EPS comes in at 41 cents, by the way, Nokia stock now has a forward-looking price-earnings ratio of only 12.5.The trick going forward is getting the masses to believe in the company's outlook enough to shake Nokia stock out of its slump. NOK still has enough firepower to inspire such buying if the company manages to garner enough attention from the Street.As of the time of this writing, James Brumley did not hold a position in any of the aforementioned securities. To learn more about James, visit his site at jamesbrumley.com, or follow him on twitter at @jbrumley. 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 Nokia's 5G Business Makes NOK Stock a Defensive Option appeared first on InvestorPlace.
U.S. sanctions against Chinese tech giant Huawei were suspended through Monday, Aug. 19. What the Trump administration does next has big implications.