Amazon raced higher toward a 3,552.35 cup-base buy point. On Tuesday, Amazon Prime Day will kick off, effectively an early Black Friday/Cyber Monday for holiday shopping.
Amazon raced higher toward a 3,552.35 cup-base buy point. On Tuesday, Amazon Prime Day will kick off, effectively an early Black Friday/Cyber Monday for holiday shopping.
Disney is going all-in on streaming media. On Monday, the company announced a massive reorganization of its media and entertainment business that will focus on developing productions that will debut on its streaming and broadcast services. Disney's media businesses, ads, and distribution, and Disney+ will now operate under the same business unit, the company said.
Millennials are scoring on most of their top holdings — including some in the S&P 500. But they're taking some massive hits.
DoubleLine Capital's billionaire "Bond King" Jeffrey Gundlach shared his bearish thoughts on the stock market in a recent Real Vision interview.
I often get this election question: Will stocks fall if my candidate, Trump or Biden, loses? My answer is always don’t invest your politics.
Tech workers fleeing the San Francisco Bay Area to work remotely amid the pandemic are being asked to take pay cuts of 15% or more, as tech companies make cost-of-living adjustments.
When you pick a wealth manager, you want one who'll treat you fairly and honestly. These wealth management companies earned top trust ratings in a survey
Natural-gas futures have nearly doubled since June, a remarkable turnaround for a commodity that has mostly been regarded as oil’s less popular sibling.
The best 5G stocks to invest in will change over time. The consumer smartphone market will evolve into broader 5G wireless enterprise opportunities.
Are you on retirement’s doorstep but not quite sure you should do it? Here are 3 questions to ask yourself.
Dow Jones futures rose as Disney said it'll prioritize streaming. Apple and Amazon led the stock market toward record highs. Adobe, Nvidia, Veeva and Tesla offered buying opportunities.
The unprecedented run-up in Tesla Inc (NASDAQ: TSLA) stock has made sell-side analyst wary about its future trajectory.The Tesla Analyst: Needham analyst Rajvindra Gill maintained an Underperform rating on Tesla. The Tesla Thesis: Tesla shares have risen 348% year-to-date versus a 7% advance by the S&P 500 Index during the same time period, Gill said in a Monday note. During two critical points in time for the shares -- the July 2019-March 2020 timeframe and March 2020 until now -- Street estimates did not move in step with the stock price, the analyst said.In some cases, the estimates actually declined, he said.Between July 2019 and March 2020, when the stock appreciated by 386%, consensus estimates for calendar year 2020 revenue increased by only 4%, while non-GAAP EPS estimates fell by 36%, Gill said.From March 2020 until now, the stock -- though it bottomed at $72 during the March sell-off -- resumed its rally and has appreciated 490%, the analyst said.This compares to a 12% increase in calendar year 2021 revenue consensus estimates and a 25% increase in non-GAAP EPS estimates, he said. This has created a further disconnect between the price and the stock's underlying fundamentals, Gill said. Related Link: Todd Gordon's Tesla Options Trade A 10-year, discounted cash flow-based intrinsic analysis of Tesla shares would present a fair picture, Gill said, by stretching beyond the quarter-by-quarter outlook for a stock that's touted as a secular long-term story.A total 10-year sales compounded annual growth rate of 21% to 2029 is likely, the analyst said.The growth rate would imply that Tesla would become the No. 1 car manufacturer by units sold at about 4 million cars at a blended ASP of $41,000, he said. The DCF analysis yields a share price of $365, or 14% downside when discounting back to today's levels, Gill said. "In the relative near-term (CY22), even when applying a leading tech P/E multiple of 50x on a bull-case EPS estimate, we derive a share price of $330 or 24% downside from current levels." TSLA Price Action: At last check, Tesla shares were adding 1.93% to $442.38. Related Link: Tesla Analyst: China 'Star of the Show,' Automaker Set To Beat Q3 Delivery Forecast Photo courtesy of Tesla. Latest Ratings for TSLA DateFirmActionFromTo Oct 2020New StreetUpgradesNeutralBuy Sep 2020BairdMaintainsNeutral Sep 2020Canaccord GenuityMaintainsHold View More Analyst Ratings for TSLA View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Tesla Has State Government Invite For Giga, R&D Hub In Bangalore * Tesla Analyst: Seasonality Makes Spike In Q4 Deliveries Unlikely(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
As the stock market looks to build on two weeks of gains, Columbus Day 2020 is finally here. Some exchanges are closed today. Here are the hours.
The polls are pointing toward a Democratic sweep (more on that in a moment). In a nutshell: Joe Biden’s plan to raise corporate taxes should logically knock about 3 ½% off the value of the S&P 500 (SPX) they estimate. Strategist Sophie Huynh walks us through the numbers.
Since President Trump was released from the hospital, following his bout with the coronavirus, the headlines have turned towards the possibility of a new economic stimulus package. On both sides of the aisle, there’s a perception that the public needs this – support for unemployment benefits, support for small businesses, more cash injected into the system – as a new wave of COVID cases starts ramping up.The stumbling block is partisan politics. House Democrats put together a $2.2 trillion proposal, but it was loaded down with the traditional Congressional pork: plenty of funds for majority party pet projects, that would not likely get funded otherwise. Trump, with support from Congressional Republicans, refused to accept it. The Democrats refused to back down. Both sides are now refusing to negotiate. The media wisdom is, this is a political defeat for the President in the run-up to the election.But, however the political optics work out, the economy may survive without this life support, according to equity strategist Mike Wilson of Morgan Stanley.“I don't think we need stimulus in the next 30 days for the economy to stay afloat. There is no risk of a double dip recession in the next 30 days if we don't get the stimulus done,” Wilson wrote.In the longer run, Wilson is optimistic that a stimulus package will happen. He notes that it is in the interests of both political parties to pass it, and adds, “We still think stimulus is coming. It is now just a timing question before or after the election. Our best guess is probably after the election.”Following Wilson’s lead, Morgan Stanley analysts are pounding the table on two stocks that look especially compelling. According to these analysts, each name is poised to surge at least 40% over the 12 months ahead. We ran the the two through TipRanks database to see what other Wall Street’s analysts have to say about them.Ferrari NV (RACE)We’ll start in the fast lane, with Ferrari. The famous performance and luxury car company has performed well this year, recovering quickly from the mid-winter corona-inspired market crash. The recovery in RACE shares underlines the fact that Ferrari’s well-heeled customer base is largely immune to downturns in consumer spending.Adam Jonas, Morgan Stanley’s expert in the automotive industry, sees Ferrari in a solid position as the year-end checkered flag approaches.“We believe the 5 new 2020 models plus the 2 to be released in 2021 (1 yet to be announced) mean Ferrari is poised for an extreamly strong 2021 from the point of view of overall: portfolio diversification, mix and higher ASPs, which together with strong economies of scale, can lead investors to expect strong incremental margins. We forecast EBITDA margins to rise from 32% in 2020 to 36% in 2021 (34% in 2019)," Jonas wrote. To this end, Jonas rates the stock as Overweight (i.e. Buy), supported by those comments, and his $265 price target suggests a one-year upside of 44%. (To watch Jonas’ track record, click here)Overall, Ferrari stock has a Moderate Buy rating from the analyst consensus, with 11 reviews breaking down to 9 Buys, 1 Hold, and 1 Sell. The shares are selling for $184.48, and their $210.03 average price target suggests they have a 14% upside potential for the year ahead. (See RACE stock analysis on TipRanks)Delta Airlines, Inc. (DAL)Next up is Delta Airlines, one of the major players in the global airlines industry. With its headquarters and primary hub in Atlanta, Georgia, Delta boasts a market cap of almost $21 billion – and that’s after accounting for the stock’s net loss of 44% since the end of February.The airline industry has been pummeled by the trade and travel restrictions put in place to combat coronavirus, in addition to the slow demand due to the economic crisis. DAL reported just $1.47 billion in revenue for Q2, down 82% sequentially, and the EPS loss was deep, at $4.43. The company has been taking steps to maintain liquidity, including issuing senior secured notes for upwards of $1.5 billion and drawing on a $3 billion credit facility.Morgan Stanley’s Ravi Shanker focuses on the airline industry, and describes recent conditions as a “long and tough quarter.” However, the analyst the analyst views DAL's risk-reward as compelling at current levels"We expect a beat for DAL this quarter, but don't believe that results (outside of cash burn) are likely to matter... We expect investors to focus on forward commentary more than current results," Shanker noted. “DAL has some of the strongest customer satisfaction numbers among the other Legacy peers, while also commanding a higher PRASM, making it our preferred Legacy carrier. With ample liquidity we see limited liquidity risk here."In line with his view of Delta as fundamentally sound, Shanker rates the stock Overweight (i.e Buy). He sets a price target of $54, indicating confidence in an impressive upside of 65% for the coming year. (To watch Shanker’s track record, click here)Overall, the analyst consensus view for DAL is a Moderate Buy, based on 11 reviews, including 7 Buys and 4 Holds. The average target of $39.50 suggests a one-year upside of 20% from the current share price of $32.73. (See DAL stock analysis at TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
A merger would allow the oil giants to cut costs, reduce capital expenses, and support a healthy dividend.
A new DraftKings analyst is bullish on the potential for a larger legal sports betting market in the U.S.The DraftKings Analyst: Benjamin Chaiken initiated coverage of DraftKings Inc (NASDAQ: DKNG) with an Outperform rating and $76 price target.The DraftKings Takeaways: The growth story associated with DraftKings is "still in its infancy," Chaiken said in a Monday initiation note.One of the key drivers for DraftKings is an anticipated acceleration of sports betting legalization following COVID-19, the analyst said.States are looking to fill budget gaps, which Chaiken said will make it compelling for states to legalize sports betting. "DraftKings has access to only 18% of the population with mobile betting and line of sight opportunity to a few other states." California represents 12% of the U.S. population, and along with Texas and Florida, could provide upside for DraftKings, the analyst said.Credit Suisse's $100 "blue sky" price target for DraftKings accounts for California being added to the mix, he said. DraftKings is undervalued versus peers and remains the only pure play mobile sports betting company in the U.S, Chaiken said. "While there is concern over valuation by some in the investment community, we don't think that it fully captures the accelerating growth pipeline available to DKNG or the earlier stage in its own lifecycle relative to peers."DKNG Price Action: DraftKings shares were up 7.19% Monday to $52.33. Latest Ratings for DKNG DateFirmActionFromTo Oct 2020OppenheimerMaintainsOutperform Oct 2020Deutsche BankInitiates Coverage OnHold Oct 2020Credit SuisseInitiates Coverage OnOutperform View More Analyst Ratings for DKNG View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * DraftKings Falls On Share Offering, NFL Uncertainty * Sports Betting Apps Have Low Awareness Despite Large Advertising Spend: Survey(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
A coronavirus rapid test co-developed by Israel and India that detects COVID-19 virus infection in less than a minute could be rolled out in a "matter of days," reports the Jerusalem Post.What Happened: India and Israel governments were working jointly to develop a rapid coronavirus detection test utilizing patients in India and Israeli technology that could detect the virus in 30 seconds, the Jerusalem Post reported in August.The operation called "Open Skies" will enable patients to blow in a tube and have the results in less than a minute.The project is developed by India's Defense Research and Development Organization and Israel's Directorate of Defense Research and Development.The test is a combination of four technologies -- sound waves, breathalyzers based on terahertz waves, isothermic identification, and checking polyamino acids.Once approved for use, India will mass manufacture the test kits. The clinical trials for the test began in late July in India, but results on its efficacy couldn't be ascertained as of press time."I think it is a matter of days. What I hear from those involved in the process, it should not take more than 2-3 weeks to finalize that one reliable and accurate technology or a combination of more than one from amongst the four different technologies being analyzed," Israel's ambassador to India Ron Malka told the Press Trust of India in an interview.The test will be cheap as the results will be delivered locally, thus eliminating the logistical costs and time of sending the sample to the lab.Why It's Important: The pandemic has kept the brakes on a lot of industries for over six months now.As countries open their economies, the number of infected cases is seeing a dramatic rise leading to closures and restrictions.The rapid test could help countries let the businesses and airports resume operations as infected patients can be detected and isolated in minutes.Once approved for commercial use, this test will benefit airlines, cruise liners, hotels, restaurants, movie theatres, malls, and theme parks.Related airline stocks: Southwest Airlines Co (NYSE: LUV), American Airlines Group Inc (NASDAQ: AAL), Delta Air Lines, Inc. (NYSE: DAL), United Airlines Holdings Inc (NASDAQ: UAL), Alaska Air Group (NYSE: ALK), Spirit Airlines Inc (NYSE: SAVE), JetBlue Airways Corp (NASDAQ: JBLU), SkyWest, Inc (NASDAQ: SKYW) and Hawaiian Holdings, Inc. (NASDAQ: HA).Coronavirus test related stocks: Abbott Laboratories (NYSE: ABT), Quidel Corp (NASDAQ: QDEL), Thermo Fisher Scientific Inc (NYSE: TMO), and Quest Diagnostics Inc (NYSE: DGX).Cinema stocks: AMC Entertainment Holdings Inc (NYSE: AMC), Cinemark Holdings, Inc. (NYSE: CNK), Marcus Corp (NYSE: MCS), IMAX Corp (NYSE: IMAX), and Reading International, Inc. (NASDAQ: RDI)See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Asian Stocks Start The Week On Positive Note * JPMorgan Chase Pledges B For Racial Wealth Equality: WSJ(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Chip company and leading growth stock Lam Research is today's pick for IBD 50 Stocks To Watch. This industry leader is nearing a key buy zone.
Lines drawn in the sand in Washington D.C. are holding the next stimulus package hostage, but what does this mean for Wall Street? Despite the stalemate on Capitol Hill, the S&P 500 has rallied 9.5% from a recent low on September 23 on the back of strong economic data.Against this backdrop, investors and economists are starting to wonder if the better-than-expected recent economic data suggests that earlier stimulus packages will be enough to support the economy as we move towards a post-COVID world.Oppenheimer’s Chief Investment Strategist John Stoltzfus points out that “for all the elevation of uncertainty that has come to pass since the start of September,” the U.S. and international markets have been “on the mend and even rallying much to the consternation of bears, skeptics, the perennially nervous and even some denizens of the DC Beltway.” What’s more, as stocks have moved higher, so has the 10-year bond yield.So, what has worked “magic” on the markets? Stoltzfus highlights a “mixed bag of factors” including Q3 earnings season which kicks off this week with the big banks, economic data that has countered recent economic slowing, interest rates that remain near historical lows, as well as “a sense that the outcome of the election will not likely result in an extended period of uncertainty.” Stoltzfus also believes the markets view COVID-19 as more of a detour from “the broader forces at work propelling stocks in the U.S. equity market.”With this in mind, Oppenheimer analysts have locked in on what they argue are exciting opportunities. These are names that won’t break the bank, and boast colossal growth prospects for the twelve months ahead, namely penny stocks.These tickers going for less than $5 apiece are tricky, so some due diligence is necessary. Using TipRank’s database, we got all of the details, to see why they are so compelling even with the risk involved. Outlook Therapeutics (OTLK)First up we have Outlook Therapeutics, which is focused on developing and commercializing Lytenava, a complex monoclonal antibody, for various ophthalmic indications. Following a recent data readout, Oppenheimer thinks its $0.77 share price presents an attractive entry point.OTLK released top-line data from the NORSE-1 study of Lytenava versus Genentech and Roche’s Lucentis in wet age-related macular degeneration (AMD), a condition that can cause vision loss. In the group receiving OTLK’s therapy, 2 out of 25 (8%) patients reached the primary endpoint (gain of at least 15 letters on best visual acuity assessment), and the group receiving Lucentis had 5 out of 23 (22%) achieve the primary endpoint.Weighing in on this result for Oppenheimer, analyst Leland Gershell points out that even though this was a pivotal trial, it was really more of a clinical experience study to generate use data. In addition, while more Lucentis patients reached the primary endpoint, the analyst mentions that the comparator arm included about twice as many treatment-naïve and/or worse baseline vision patients, which favored Lucentis.The company stated that over 15 letter improvements at month 11 were “equivocal among treatment naïve subjects,” and trended better for Lytenava among those with baseline visual acuity of less than 67 letters, versus 44% on Lucentis.Gershell added, “We believe the results support Lytenava's prospects in the ongoing U.S. NORSE-2 trial in wet AMD, which is well-powered to show efficacy superiority to Lucentis.” Along with the sufficient sample size for statistical powering, NORSE-2 will stratify according to certain baseline characteristics, exclude patients with better than 20/50 vision and enroll only treatment-naïve patients. As Lytenava is positioned to play a meaningful role in the multi-billion dollar retinal disease market, a licensing agreement or partnership isn’t out of the question, in Gershell’s opinion. To this end, he recommends investors snap up shares before the NORSE-2 readout.Given all of the above, Gershell rates OTLK an Outperform (i.e. Buy) along with an $8 price target. Investors could be pocketing a gain of 947%, should this target be met in the twelve months ahead. (To watch Gershell’s track record, click here)Turning now to the rest of the Street, 3 Buys and no Holds or Sells have been published in the last three months. Therefore, OLTK has a Strong Buy consensus rating. With the average price target clocking in at $6.33, the upside potential lands at 729%. (See OLTK stock analysis on TipRanks)Organogenesis Holdings (ORGO)As one of the top regenerative medicine companies, Organogenesis Holdings focuses on empowering healing through the development of products for the wound care, surgical and sports medicine markets. With the price per share landing at $3.85, Oppenheimer says now is the time to pull the trigger.Firm analyst Steven Lichtman counts himself as a fan. Even though sales declined 29% year-over-year in April, trends began to improve in May as healthcare facilities started to reopen. By June, over 90% of ORGO customer accounts were open and all were accepting new patients.As a result, Q2 2020 sales of $69 million blew expectations out of the water. Additionally, despite COVID-related headwinds, management reinstated its original 2020 sales guidance of $273-$277 million, which would reflect a 5-6% year-over-year gain.Going forward, Lichtman cites Affinity, the company's fresh amniotic membrane for wound care and surgical, as a key point of strength. Following the transition to a new contract manufacturer and subsequent re-launch in 1H20, the analyst sees a strong tailwind.On top of this, the ramp of NuShield, a dehydrated placental allograft, and NovaChor, the first fresh chorion membrane, could drive significant upside. Lichtman added, “Management also highlighted the benefits of its product breadth as customers are increasingly looking to reduce the number of vendors they use.”ORGO believes that its product mix could drive margin expansion. “ORGO's amniotic portfolio is a significant contributor given it is a high margin product, and a major growth component for the company. Consolidation of several facilities is also expected to drive ~300 basis point margin improvement,” Litchman said.It should be noted that since the pass-through reimbursement reinstatement in Q4 2018, ORGO has been taking steps to drive PuraPly (its medical device designed for acute and chronic wound management across a wide variety of wound types) beyond pass-through. These efforts include increasing physician office penetration, enhancing clinical data, the addition of PuraPly products and line extensions and launching smaller sizes priced under the bundle. Calling these efforts “near-term offsets,” Lichtman thinks they represent “potential upsides to expectations.”Everything that ORGO has going for it convinced Lichtman to rate the stock an Outperform (i.e. Buy) alongside a $9 price target. This figure suggests 134% upside potential from current levels. (To watch Lichtman’s track record, click here)All in all, other analysts echo Lichtman’s sentiment. 3 Buys and no Holds or Sells add up to a Strong Buy consensus rating. With an average price target of $8.67, the upside potential comes in at 126%. (See ORGO stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Shares in Poland's most popular e-commerce company, Allegro, one of Amazon's chief rivals in Central Europe, surged more than 50% in the stock's first day of trading in Warsaw.