Billionaire businessman Ken Langone shares his American dream story, and discusses why we see political divisiveness we have today.
Billionaire businessman Ken Langone shares his American dream story, and discusses why we see political divisiveness we have today.
The House will vote this week on the Holding Foreign Companies Accountable Act. Will it lead to the delisting of Alibaba stock and other China stocks?
Dividend stocks are the Swiss army knives of the stock market.When dividend stocks go up, you make money. When they don’t go up — you still make money (from the dividend). Heck, even when a dividend stock goes down in price, it’s not all bad news, because the dividend yield (the absolute dividend amount, divided by the stock price) gets richer the more the stock falls in price.Knowing all this, wouldn’t you like to find great dividend stocks? Of course you would. Raymond James analysts have chimed in – and they are recommending two high-yield dividend stocks for investors looking to find protection for their portfolio. These are stocks with a specific set of clear attributes: a dividend yield of 10% and Strong Buy ratings.Kimbell Royalty Partners (KRP)We’ll start with Kimbell Royalty Partners, a land investment company operating in some of the US’ major oil and gas producing regions: the Bakken of North Dakota, Pennsylvania’s Appalachian region, the Colorado Rockies, and several formations in Texas. Kimbell owns mineral rights in more than 13 million acres across these regions, and collects royalties from over 95,000 active wells. Over 40,000 of those wells are in the Permian Basin of Texas, the famous oil formation that has, in the past decade, helped turn the US from a net importer of hydrocarbons to a net exporter.The coronavirus crisis hit Kimbell directly in the pocketbook, knocking down share prices and earnings as economic restrictions, social lockdowns, and the economic downturn all struck at production and demand. The situation has only begun to revive, with the Q3 revenues growing 44% sequentially to reach $24.3 million.Kimbell has long been a reliable dividend payer, with a twist. Where most dividend stocks keep their payouts stable, typically making just adjustment in a year, Kimbell has a history of reevaluating its dividend payment every quarter. The result is a dividend that is rarely predictable – but is always affordable for the company. The last declaration, for the third quarter, was 19 cents per common share, or up 46% from the previous quarter. At that rate, the dividend yields ~10%,Covering the stock for Raymond James, analyst John Freeman noted, “Despite a strong quarterly performance and a nearly 50% distribution raise in 3Q, the market continues to under appreciate the unique value proposition of Kimbell's assets, in our view. Kimbell has a best-in-class 13% base decline, exposure to every major basin and commodity, as well as a very manageable leverage profile…”Regarding the possible anti-hydrocarbon stance of a Biden Administration, Freeman sees little reason for worry, saying, “Investors concerned about a potential Biden presidency (which appears increasingly likely) have little to fear in KRP. The company has less than ~2% of acreage on federal lands, meaning a frac ban on those properties would not have a material impact on KRP's business and might actually help them if it improved the overall supply impact."In line with these comments, Freeman rates KRP a Strong Buy, and his $9 price target implies it has room for 25% growth going forward. (To watch Freeman’s track record, click here)Wall Street appears to agree with Freeman, and the analyst consensus view is also a Strong Buy, based on 5 unanimous positive reviews. This stock is priced at $7.21, and its $11 average target is even more bullish than Freemans, suggesting a one-year upside of ~52%. (See KRP stock analysis on TipRanks)NexPoint Real Estate Finance (NREF)NexPoint inhabits the real estate trust niche, investing in mortgage loans on rental units, both single- and multi-family occupancy, along with self-storage units and office spaces. The company operates in the US, across major metropolitan hubs.NexPoint held its IPO in February this year, just before the coronavirus pandemic inspired an economic crisis. The offering saw 5 million shares sell, and brought in some $95 million in capital. Since then, the shares are down 13%. Earnings, however, have posted gains in each full quarter that the company has reported as a public entity, coming in at 37 cents per share in Q2 and 52 cents in Q3. The Q3 number was 30% above the forecast.The dividend here is also solid. NexPoint started out with a 22-cent per share payment in Q1, and raised it in Q2 to its current level of 40 cents per common share. This annualizes to $1.60, making the yield an impressive ~10%.Stephan Laws, 5-star analyst with Raymond James, is impressed with what he sees here. Laws writes of NexPoint, “Recent investments should drive significant core earnings growth, which is reflected in the increased 4Q guidance range of $0.49-0.53 per share (up from $0.46-0.50 per share). The guidance incorporates the full quarter impact of the new 3Q investments as well as new mezz investments made in October. We are increasing our 4Q and 2021 estimates, and we have increased confidence in our forecast for a 1Q21 dividend increase, which we now forecast at $0.45 per share…”Following these sentiments, Laws puts a Strong Buy rating on NREF. His $18 price target suggest the stock has a 9% upside potential for the year ahead. (To watch Laws’ track record, click here)With 2 recent Buy reviews, the analyst consensus on NREF shares is a Moderate Buy. The stock’s $18 average price target matches Laws’, implying 9% growth. (See NREF stock analysis on TipRanks)To find good ideas for dividend 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.
It's been an impressive November for S&P 500 stocks. And the month served up another reminder of the power in picking top stocks.
At the outset of 2020, Moderna (MRNA) was hardly a household name. But with 2021 in plain sight, the whole world is keeping a close watch on the company’s latest developments.More pointedly, Moderna has firmly planted itself in the general public’s psyche due to its Covid-19 vaccine candidate mRNA-1273. The company reported interim data from a late stage study, in which mRNA-1273 displayed a 94.1% success rate in preventing the coronavirus (100% against severe cases), making the granting of an EUA (emergency use approval) from the FDA increasingly likely. In fact, Brookline Capital analyst Leah Rush Cann believes approval could be sealed by mid-December.After assessing the Moderna model following the vaccine’s positive results, the 5-star analyst noted, “Moderna’s probability of success should be meaningfully increased; therefore, we are lowering our discount and increasing our target price to reflect these changes.”The change is a significant uptick – up from $95 to $164. Unsurprisingly, the analyst’s rating for MRNA stays a Buy. (To watch Cann’s track record, click here)The bullish case for Moderna currently resides with mRNA-1273’s worldwide commercial opportunity. Moderna anticipates manufacturing between 500 million to 1 billion doses next year, and Cann expects the vaccine to account for 99.2% of the company’s 2021 revenue. The US government has already put in an order for 100 million doses of mRNA-1273, with an option to purchase another 400 million. The European Union has ordered 80 million doses and another 56 million are earmarked for Canada.However, Cann also points out the Covid-19 vaccine is just one of several assets in Moderna’s potentially lucrative pipeline.“mRNA-1273 is one of 17 experimental clinical compounds Moderna has in development,” Cann said. “The potential products in clinical development have the potential to have combined estimated sales of $77.1 billion by 2030. In addition, Moderna has seven preclinical programs that have the potential for combined 2030 sales of $8.4 billion.”Most of Cann’s colleagues also look favorably upon Moderna’s prospects, though not all are convinced. Based on 8 Buys, 4 holds and 2 Sells, the stock has a Moderate Buy consensus rating. However, shares have gained 680% year-to-date, and trading at near all-time high of $152.74. The analysts evidently feel the stock has surged enough for now; The $111.46 average price target suggests the share price will drop by 27% over the next 12 months. (See MRNA stock analysis on 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 analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Think carefully about your choice so you can actually pay off your student debt.
(Bloomberg) -- Tesla Inc. will be added to the S&P 500 Index in one shot on Dec. 21, a move that will ripple through the entire market as money managers adjust their portfolios to make room for shares of the $538 billion company.Given Tesla’s massive market size, S&P consulted with investors in November, asking for feedback on whether the stock should be folded into the index all at once or in two parts, which would have been unprecedented. The electric-vehicle maker would be the seventh-biggest company in the S&P 500 at its current market value, falling between Berkshire Hathaway Inc. and Visa Inc.With about $11 trillion in funds tied to the S&P 500, money managers have been looking toward a few busy weeks ahead no matter how Tesla was included in the index. Whether it was one fell swoop or two separate tranches, managers of index-tracking funds would still have had to offload stocks of several other companies to make room for the mammoth newcomer in their portfolios.“It looks like they’re ripping the band-aid off,” said Steve Sosnick, chief strategist at Interactive Brokers. “It’s ultimately less disruptive than trying something new with the largest index addition ever.”Tesla shares rose 4.1% to $590.75 at 4:17 a.m. New York time Tuesday in pre-market trading. The stock, which closed at a record high on Friday, is up about 578% this year.S&P Dow Jones Indices, announcing the plan in a brief statement Monday, said it will make public on Dec. 11 which company Tesla will replace in the index. The index provider said it will release a full statement on Tuesday morning.Adding the company in the traditional way is “simple and easy to understand” said Gary Black, a private investor who was chief executive of Aegon Asset Management from mid-2016 through September.After the initial buying of Tesla into the Dec. 21 inclusion, the stock may pull back, if history is any guide, according to Black. The shares may fall about 10% to 20%, a pattern that would be consistent with what happened to Facebook after its entry into the S&P 500 seven years ago.Read more: Tesla FOMO Fires Up Wall Street’s $300 Billion Custom-Index BoomTesla’s market capitalization is larger than any other company had at its debut in the S&P 500. Berkshire Hathaway previously held that record. It was worth about $127 billion when it was included in the index in 2010.(Updates to add U.S. pre-market trading in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
When looking for the best artificial intelligence stocks to buy, identify companies using AI technology to improve products or gain a strategic edge, such as Microsoft, Netflix and Nvidia.
With several months having now passed since each pick, we can begin to measure the performance of each stock recommended by analysts at The Motley Fool Stock Advisor during the third quarter. So far the group has delivered an average gain of 18%, outperforming each of the major indexes during that span. Here's a breakdown.Crowdstrike Holdings Inc (NASDAQ: CRWD) * Recommended on July 2 * Performance Since Recommendation: up 38%Analyst Reasoning:Tom Gardner recommended CrowdStrike for three key reasons, the big one being that the company's Falcon platform is more effective than its competitors. And with millions of people working from home during the pandemic, cybersecurity has become more critical than ever. This has increased both the size of the addressable market and the need for a company like CrowdStrike. The company also reported both earnings and guidance in early September above analyst estimates.ASML Holding (NASDAQ: ASML) * Recommended on July 16 * Performance Since Recommendation: 13%Analyst Reasoning:David Gardner's recommendation of ASML, the Dutch semiconductor company, is because they're the market leader in lithography systems, which are required to make newer generation 7-nanometer-and-under chips.While other semiconductor companies specialize in certain chips, ASML is chip agnostic. According to Gardner, ASML has a monopoly on extreme ultraviolet (EUV) lithography technology, with a large head start over potential competitors. This means the company will continue to grow as the world becomes more reliant on semiconductors for everything. Wix.com Ltd (NASDAQ: WIX) * Recommended on August 6 * Performance Since Recommendation: down 18%Analyst Reasoning:Tom Gardner recommended Wix.com in August as a pandemic play. Though the stock has rallied hard this year along with other e-commerce plays, the company's freemium model allows it to acquire customers at a greater rate than its peers. "Despite its rich valuation, Wix.com is in the perfect space to profit from the desperate need among millions of businesses worldwide to get access to the power of the internet," he wrote."JD.com Inc (NASDAQ: JD) * Recommended on August 20 * Performance Since Recommendation: up 13%Analyst Reasoning:David Gardner's recommendation of JD.com is another pandemic play. He likes the stock because the company appears to be closing the gap with Alibaba (NYSE: BABA). JD, which has only been profitable for one year, recently reported EPS for Q3 above estimates along with in-line revenue. They also recently racked up $43.17 billion in sales from Singles' Day. That growth, combined with the fact that its largest competitor appears to be in the regulatory crosshairs, has JD well-positioned going forward. Fiverr International Ltd (NYSE: FVRR) * Recommended on Sept 3 * Performance Since Recommendation: up 64%Analyst Reasoning:Tom Gardner wrote to buy Fiverr seven weeks before the company reported a blowout quarter, sending its shares skyrocketing. Though he acknowledged there are other players in the space (notably Upwork (NASDAQ: UPWK), the $100 million total addressable market for the gig economy in the U.S. alone makes this an attractive play. Going forward, a lot of the company's growth should come from international markets, as they've expanded all over Europe in 2020. Bandwidth Inc (NASDAQ: BAND) * Recommended on Sept. 17 * Performance Since Recommendation: down 2%Analyst Reasoning:David Gardner's call to buy Bandwidth comes down to the "late mover advantage." Unlike the other names on this list, BAND has been around for decades. But their timing--building up their network after the dotcom bubble and before newer competitors like Twilio (NASDAQ: TWLO) and RingCentral (NASDAQ: RING) entered the market--allowed them to acquire close to 70 million numbers for its voice over internet protocol service. Today, Bandwidth counts most of the largest conferencing solutions as customers, including Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) for Google Voice, Microsoft Corporation (NASDAQ: MSFT) for Skype, and Zoom Video Communications (NASDAQ: ZM). See more from Benzinga * Click here for options trades from Benzinga * How COVID Is Forcing Financial Services Companies To Adapt * Khiron Is Continuing To Grow Its Presence In Latin America(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cannabis stocks continued their postelection rise from the ashes Monday, ahead of votes this week regarding decriminalization in the U.S. House of Representatives and the United Nations.
The stock market fell Monday but the Nasdaq slashed losses as Apple awoke, Moderna soared and AMD broke out. Zoom Video fell late despite strong earnings. Tesla got an S&P 500 update.
(Bloomberg) -- Exxon Mobil Corp. is about to incur the biggest writedown in its modern history as the giant U.S. oil and gas producer reels from this year’s collapse in energy prices.Exxon -- traditionally far more reluctant to cut the book value of its business than other oil majors -- on Monday disclosed it will write down North and South American natural gas fields by $17 billion to $20 billion. That could make it the industry’s steepest impairment since BP Plc’s 2010 Gulf of Mexico oil spill that killed 11 workers and fouled the sea for months. Meanwhile, capital spending will be drastically reduced through 2025.The announcement comes in the waning days of a grueling year for Chief Executive Officer Darren Woods, who’s resorted to laying off thousands of employees, curtailing retirement benefits and canceling ambitious growth projects. The former refinery manager, who stepped in to the top job in 2017, has been forced to recast his seven-year, $210 billion blueprint for rejuvenating Exxon’s aging portfolio of crude and gas holdings.In addition to dropping vast swaths of gas assets from the development queue, Woods is capping capital spending at $25 billion a year through 2025, a $10 billion reduction from his pre-pandemic target.This year has been particularly bruising for America’s most-iconic oil explorer. Exxon lost money for three consecutive quarters, an unprecedented streak, the shares dipped to an 18-year low and the company was ejected from the bosom of blue-chip stocks, the Dow Jones Industrial Average. Woods also plans to cut 15% of the company’s workforce by the end of next year.From being the largest company in the S&P 500 Index as recently as 2012, Exxon now ranks just inside the top 50 as energy lost its luster and technology giants grew. Chevron Corp. now has a larger market valuation than Exxon.No PivotUnlike its European peers, Exxon has so far chosen to stick with its $15 billion-a-year dividend and has increased borrowing in recent months to fund it and its other capital priorities. On an annualized basis, the dividend has been increased each year for almost four decades.Optimism that vaccines will soon restore global economic growth buoyed crude prices in recent weeks but the impact of the contagion on Big Oil is likely to be longlasting. With European giants Royal Dutch Shell Plc and BP accelerating the pivot to renewables and Exxon locking in drastic spending cuts, capital flows into big, traditional developments are expected to shrink in coming years.Cowen & Co. analyst Jason Gabelman detected a subtle shift in Exxon’s word choices that may herald a dramatic change in financial priorities. Whereas company executives touted Exxon’s “reliable and growing dividend” during the third-quarter earnings conference call, Monday’s statement only mentioned reliability, the analyst said in a note to clients.‘High-Grading’“Continued emphasis on high-grading the asset base -- through exploration, divestment and prioritization of advantaged development opportunities -- will improve earnings power and cash generation, and rebuild balance sheet capacity,” Woods said in the statement.Exxon has been warning shareholders since October that its gas assets were at risk of significant impairment. Previously, the energy titan’s largest writedown was for about $3.4 billion in 2016, according to Bloomberg Intelligence.Assets removed from Exxon’s development plans include so-called dry gas resources in Appalachia and the Rocky Mountains, Oklahoma, Texas, Louisiana and Arkansas, as well as western Canada and Argentina, the company said. It will attempt to sell “less strategic” assets.The writedown stems from former CEO Rex Tillerson’s decision a decade ago to buy XTO Energy for $35 billion rather than spend years building an in-house shale business. At the time, the outlook for North American gas prices was bright because demand was rising faster than supply.Supply GlutInstead, fracking was a victim of its own success, unleashing so much gas that it overwhelmed demand and the infrastructure needed to handle it, resulting in a prolonged stretch of depressed prices.U.S. rival Chevron recorded an impairment of more than $5 billion on Appalachian gas a year ago, and recently agreed to sell those fields to EQT Corp. for about $735 million.(Updates to recast first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A late-year IPO surge is about to take off. Airbnb is leading a flurry of companies that are expected to make their debuts on public equity markets next week. Airbnb is scheduled to price its initial public offering on Dec. 9 and trade Dec. 10, three people familiar with the situation said.
Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We surveyed a group of over 300 investors on whether shares of Nio (NYSE: NIO) or Xpeng (NYSE: XPEV) stock would grow the most by 2025.About 67% of traders and investors said shares of Nio would grow more in the next five years.Nio Vs. XPeng Stock In the near-term, the Shanghai-based EV maker Nio continues to garner investor's attention given marked earnings growth.Nio reported above-consensus third-quarter results, thanks to strong deliveries and margin improvement. Revenues climbed 146.4% year-over-year and 21.7% sequentially $666.6 million. This compares to the year-ago revenue of $262.47 million. The company also issued a strong fourth-quarter outlook.Nearly 33% of respondents said Xpeng stock would grow more in the next five years. One reader from our study expressed confidence in XPeng's ability to establish itself as a leader in the emerging low-cost EV market.The respondent noted how "XPeng is going after the larger, lower cost market as a direct competitor to Tesla. Hence, they are likely to have the greatest 5 year opportunity as that huge market segment in China both grows and moves to EV.""A good compact low-cost EV product such as XPeng's lineup would also garner momentum in Europe and the US as those regions move more aggressively to EVs. Assuming they can continue to beat Tesla on price and offer comparable quality, XPeng could become the EV version of Kia when they first come to market," the respondent said.This survey was conducted by Benzinga in November 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 300 adults.See more from Benzinga * Click here for options trades from Benzinga * Will Boeing Or Airbus Stock Grow More By 2025? * Will Oracle Or IBM Stock Grow More By 2025?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Adding Elon Musk's Tesla to Wall Street's most followed benchmark will force index funds to buy about $73 billion worth of its shares, S&P Dow Jones Indices said. The electric car maker's stock has surged over 40% since Nov. 16, when it was announced Tesla would join the index. At that time, S&P Dow Jones Indices said it would consult investors about whether to potentially add Tesla in two tranches a week apart to make the addition easier to handle for index funds.
Nikola and GM revise the terms of their previous headline-grabbing deal.
(Bloomberg) -- A BioNTech SE analyst advised investors to cash in on their profits from the $30 billion biotech’s recent advance, saying the German company now faces heightened competition from peers that are also developing vaccines.Approval for the company’s Pfizer Inc.-partnered Covid-19 vaccine is already reflected in the stock’s 268% rally this year, so that now there’s limited room for additional gains despite the two companies’ first-mover advantage, BofA analyst Tazeen Ahmad wrote in a note to clients, downgrading BioNTech to neutral from buy.“The durability of protection remains a key question for the Covid vaccine market,” Ahmad wrote, highlighting competition from the likes of Moderna Inc., AstraZeneca Plc and Johnson & Johnson, among others.BioNTech American depositary receipts fell as much as 4.4% in late trading Monday after closing at a record. Earlier in the day, Moderna said it planned to request clearance for its coronavirus vaccine in the U.S. and Europe. The move puts it behind Pfizer and BioNTech, which submitted a filing for their shot to U.S. regulators earlier this month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Dow Jones Industrial Average fell more than 350 points amid Moderna coronavirus vaccine news Monday. Tesla jumped to more all-time highs.
ServiceNow (NOW), Snowflake (NKE), Tesla (TSLA), JD.com (JD) and PayPal (PYPL) have all made the IBD Leaderboard list of stocks to watch. After finding support as it bases, Apple (AAPL) is looking to officially join the group. In addition to Apple stock making the Leaderboard Watchlist and NOW, NKE and PYPL earning a spot on the list of Leaders Near...
The year is coming to an end, and bullish news is mounting for the energy industry, presenting an array of juicy deals to watch this holiday season
Novavax is making a play for a coronavirus vaccine, vs. giants like Pfizer, and other rivals like Moderna. But NVAX stock has been volatile. Is Novavax a buy?