The decision to halt Ant Group's IPO is causing pain for everyone from retail investors to major banks and billionaire Jack Ma. Julian Satterthwaite reports.
The decision to halt Ant Group's IPO is causing pain for everyone from retail investors to major banks and billionaire Jack Ma. Julian Satterthwaite reports.
Tensions between Andrew Ross Sorkin and Rick Santelli boiled over on CNBC's "Squawk Box" on Friday. The disagreement between Sorkin and Santelli was a reflection of a debate many Americans are having these days about what some see as inconsistencies in pandemic lockdown rules.What Happened: The argument about closing restaurants while big box retailers remain open broke out after California Gov. Gavin Newsom announced a new stay-at-home order for California on Thursday that will close bars, hair salons and personal services businesses and restrict restaurants to take out and delivery services only."Five hundred people in a Lowe's aren't any safer than 150 people in a restaurant that holds 600," Santelli said. "I don't believe it. Sorry. Don't believe it. And I live in an area where there's a lot of restaurants that have fought back, and they don't have any problems. And they're open!"Sorkin Fires Back: Sorkin responded by accusing Santelli of misinforming CNBC's viewers."You don't have to believe it, but let me just say this--you're doing a disservice to the viewer because the viewers need to understand it," Sorkin said. "I'm sorry. I'm sorry. I'd like to keep the viewers as healthy as humanly possible. The idea of packing people into a restaurant and packing people into a Best Buy are completely different things"> When WWE takes over CNBC. pic.twitter.com/gdtftV8EXb> > -- Bill Grueskin (@BGrueskin) December 4, 2020Santelli has been an on-air editor for CNBC since 1999 and reports live from the Chicago Mercantile Exchange. Sorkin is a financial columnist for the New York Times, author of the book "Too Big To Fail" and co-creator of the Showtime series "Billions.""You are doing a disservice to the viewer! You are!" Santelli said in response to Sorkin's accusations. "I think our viewers are smart enough to make some of those decisions on their own. I don't think that I'm much smarter than all the viewers, like some people do."Related Link: Andrew Ross Sorkin, Joe Kernen Get Into Heated On-Air Argument Over Coronavirus, TrumpBenzinga's Take: Sorkin and Santelli represented two sides of a very basic philosophical argument about whether the primary responsibility for keeping people safe in America during the pandemic should rest with the government or the individual citizens themselves.The pandemic is taking a disproportionately large toll on small businesses, such as restaurants and bars. However, COVID-19 cases are spiking to record highs in many areas around the country, including a record 7,854 new cases in Los Angeles County on Thursday.See more from Benzinga * Click here for options trades from Benzinga * US Adds Just 245K Jobs In November, Missing Expectations By 44% * 3 Stocks That Could Make You Richer In December(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- A record outflow from one of Vanguard Group’s biggest exchange-traded funds is stirring speculation over who was behind it and why.More than $7 billion was pulled from the $172 billion Vanguard S&P 500 ETF (VOO) on a single day this week, according to data compiled by Bloomberg, about 4% of the fund’s assets. But trading volumes were below the one-year average and there were no obvious outsized transactions, while the U.S. equity benchmark rose on the day -- making a mass exodus less appealing.It’s all leading to a theory that a major holder of the fund executed a large over-the-counter trade.“We think the redemption didn’t show up because it was an outsized primary market sale,” said Eric Balchunas, a Bloomberg Intelligence ETF analyst. Rather than shopping for a tie at a store, “this is like someone going straight to the tiemaker, and that’s rare since most ETF usage is smaller investors,” he said.When cash flows into an ETF, a market maker known as an authorized participant gives the issuer more of the fund’s underlying assets in exchange for new shares to meet demand. When money is being taken out, the process works in reverse.Ordinarily an investor buys or sells their shares on an exchange. But instead of selling on the open market, they could hand them directly to an AP, who can redeem them with the issuer in return for the underlying assets. Those assets can then be sold down by the AP or passed on to the investor to hold or sell.“Trading activity and flows are not actually systemically tied together,” said Dave Nadig, chief investment officer and director of research at ETF Flows, a research and data provider. Since the huge withdrawal didn’t show up on the tape, it suggests an institution collected a position worth $7 billion but preferred to have the underlying assets, he said.It’s not possible to know for certain who pulled out the cash. According to the latest available data, Bank of America Corp. is the largest holder in the fund, with shares worth about $14 billion. Raymond James Financial Inc. is next with about $5.2 billion, followed by Parametric Portfolio Associates with $4.9 billion.Spokespeople for Vanguard and Parametric declined to comment on the flows, while Bank of America and Raymond James didn’t immediately respond to requests for comment.The scale of the withdrawal indicates that VOO is now being used by large institutions in addition to being a favorite with retail investors, Balchunas said. The fund is cheaper than its main competitor, the SPDR S&P 500 ETF Trust (SPY). It has an 0.03% expense ratio, compared with 0.095% for SPY.VOO has attracted $19.5 billion of inflows this year, second only to the Vanguard Total Stock Market ETF (VTI), which has lured $27.8 billion. SPY is leading outflows after seeing $26 billion pulled from the fund.“This really does speak to the usage of ETFs as portfolio tools,” Balchunas said. “VOO is now being used by the big boys.”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.
Khaldoon al-Mubarak made an assessment in March that this challenging year would bring new opportunities to lessen his homeland’s dependence on oil. He spent billions backing up that belief.
The S&P 500 gained more than 11% in November, its best November on record. After such a strong month and impressive 2020 rebound off the index's March lows, much of the easy money from the expected 2021 economic rebound may have already been made.Bank of America maintains a list of top stock picks selected by its analyst team: the US1 List. Of the 37 stocks on the list, here are the three stocks investors can buy in December that have the most potential upside based on Bank of America's target prices.Related Link: Why November And December Are Critical For Video Game SalesNorthrop Grumman Corporation (NYSE: NOC)Northrop Grumman is one of the largest global defense companies. The stock has been a major market laggard in 2020 and is down 12.1% year-to-date. Yet analyst Ronald Epstein says the market doesn't appreciate the company's "best in class" combination of a strong order backlog, earnings growth potential and exposure to high-priority programs.Northrop's proven management team, stable cash flow generation and increasing dividends and buybacks should lead to outperformance in the market as the U.S. transitions to a new administration, the analyst said.Bank of America's $455 price target represents about 33.4% upside.Arch Capital Group Ltd. (NASDAQ: ACGL)Arch Capital is a Bermuda-based company that provides insurance and reinsurance for companies around the world.Arch shares have also taken a big 23.3% hit in 2020, but analyst Joshua Shanker says the company's recent struggles with its mortgage business may not be as bad as they seem at first glance. Arch is being forced to reserve against losses in this environment regardless of whether the losses ultimately result in default, the analyst says.As market conditions improve, Arch can release many of these reserves, and Shanker says he anticipates that will allow the company to beat consensus analyst earnings expectations in coming years.Bank of America's $48 price target represents about 31.5% upside.Wix.Com Ltd (NASDAQ: WIX)Wix.com operates a simple platform that allows users to design and edit their own websites.Unlike the other two stocks mentioned, Wix shares are already up 108% year-to-date in 2020 -- but analyst Nat Schindler expects that momentum to continue in the near-term.Schindler has compared Wix to TurboTax in its ability to empower individuals and small businesses to make website design a "do-it-yourself" venture.As more and more businesses transition online, Schindler says Wix should produce accelerating revenue growth, steady revenue streams and expanding margins.Bank of America's $350 price target represents about 26.6% upside.A Northrop Grumman B-2 Spirit. U.S. Air Force photo. See more from Benzinga * Click here for options trades from Benzinga * 420 Investor: 'This Is The Most Excited I've Ever Been' In Cannabis * How To Make Money With Stock Option Overwriting(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors are crowding into the stock market right now, and they aren't seeing the big signals that indicate they are about to get caught up in a rough period of selling, says our call of the day from contrarian investor Steven Jon Kaplan.
Before you open a retirement account, you should know the disadvantages of Roth IRAs, including income limits. Learn about the drawbacks of Roth IRAs.
Jim Cramer has given his "blessing" for investors to buy shares of CIIG Merger Corp (NASDAQ: CIIC), the blank-check company merging with British electric vehicle company Arrival.What Happened: The "Mad Money" host said on his CNBC show that if the stock "comes down below $17.50, you can buy it hand over fist, because this one has the best claim to be the son of Tesla -- or daughter, to break the tyranny of that awful cliche."The automaker, backed by United Parcel Service, Inc (NYSE: UPS), Hyundai Motor Company (OTC: HYMTF), and BlackRock Inc (NYSE: BLK) is "revolutionizing the entire auto industry, and they own a ton of intellectual property," according to Cramer."They make all their own components, they'll be cost competitive with gasoline and diesel, and that's why Arrival got that $5 billion valuation from the get-go," explained Cramer.Cramer said Arrival's microfactory concept could have an impact beyond auto industry and it could "revolutionize manufacturing.""If they can make an electric van or truck with a lower cost of ownership than the fossil fuel-powered alternatives, that's a whole new ballgame," the former hedge-fund manager theorized.Why It Matters: The merger between CIIG Merger and Arrival was reported last month. The former is backed by Peter Cuneo, the former CEO of Remington and Marvel.BlackRock has pumped in 8 million into Arrival, which would allow the London-based company to open a manufacturing facility in the United States.UPS has placed an order of 10,000 electric vans with Arrival, worth approximately $500 million.Price Action: CIIG Merger shares rose 16.06% to $25.01 in the after-hours session on Thursday and closed nearly 9.6% higher at $21.55.Related Link: A First Look At Amazon's Rivian-Made Electric Delivery VanClick here to check out Benzinga's EV Hub for the latest electric vehicles news. See more from Benzinga * Click here for options trades from Benzinga * Tesla Remains Only Automaker To Grow In Germany Through November, With 37% Rise In Registrations * Moderna Says It Will Ship 100M-125M COVID-19 Vaccine Doses Worldwide In Q1(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
With markets generally rising for now – the S&P is up over 9% in the past 30 days – investors are taking a close look at growth stocks. These are the equities that show long-term appreciation, with returns to investors based mainly on share price gains. It’s an obvious move to make, when the mood on the Street is bullish.The professional analyst corps understand this, and they have been scouring the market for stocks that show signs of powerful growth ahead. These aren’t necessarily the big names – but they are likely to bring the returns that make investing profitable.Dipping into the TipRanks database, we’ve pulled up the stats on three such stocks. They all have doubled or more so far this year, boast Buy ratings, and show double digit upside potential, according to Wall Street analysts.Open Lending Corporation (LPRO)Americans love their cars – but the financing sector is the real engine of automotive sales growth. Loan financing makes it possible for most people to maximize their purchase potential, and Texas-based Open Lending has inhabited that loan-niche for the past 20 years. The company offers loan analytics, automated decision capability, risk modeling, and risk-based pricing for automotive lenders. Open Lending went public on NASDAQ this past summer, through an agreement with Nebula Acquisition Corporation.Since LPRO went public on the markets, the stock’s value has increased by an impressive 156%. The increase comes as revenues rose from $22 million in Q2 to $29 million in Q3, a 31% gain. Open Lending powers its revenue gains by targeting a new customer cohort in the automotive loan industry – near-prime customers, who have relatively low risk according to the data analysis, but don’t qualify for the prime rate loan products. Open Lending helps finance companies locate these customers – and offer them better rates than they have historically received. It’s a bold move in the auto loan industry, and judging by the revenue gains, it appears to be paying off.Joseph Vafi, 5-star analyst with Canaccord, is impressed by Open Lending’s debut in the market, and its business model.“In this analyst's experience, it is rare to see a new FinTech market entrant be able to garner just a few new customers and potentially accelerate its business model so much and so quickly,” Vafi said. “The real story here is the forward look and the potential for ‘exceptional’ P&L acceleration looking out into 2021/2022. This view is supported by material progress with auto OEM finance arm customers.”Looking at the model, Vafi goes on to say, “Open Lending's value proposition expands well beyond just underwriting risk mitigation to extending balance sheet capacity for the lenders themselves. Given our view that the company's product rollout is still in its early innings relative to a quite large TAM, we see LPRO as capable of providing growth and EBITDA profitability at the high end of the FinTech peer group over the medium term.”In line with his bullish commentary, Vafi rates LPRO shares a buy, and sets a price target of $35. This implies an upside potential of 28% for the next 12 months. (To watch Vafi’s track record, click here)Overall, Wall Street agrees with Vafi on this one. The stock has 9 recent reviews, breaking down to 8 Buys and 1 Hold, making the analyst consensus here a Strong Buy. The average price target is $33.11, implying a 21% one-year upside. (See LPRO stock analysis on TipRanks)AdaptHealth (AHCO)Technological advance has allowed many chronic-care patients to maintain themselves at home, using medical devices and equipment to support their regular living – in their own homes. It’s one of the best features the medical system has developed over the past decades, and arguably has had one of the most positive impacts on people’s quality of life. AdaptHealth is a medical equipment provider, offering patients a range of in-home equipment through a national network of providers. Adaptive equipment includes mobility, nutrition, ventilation, wound care, and more, all designed to keep patients living at home. While the approach is billed as empowering patients, in-home care also reduces costs for medical providers.AdaptHealth has seen revenues rise through all of 2020. The top line grew from $191 million in Q1 to $232 million in Q2 to $284 million Q3 – in all, a 48% revenue increase in the first nine months of the calendar year. Along with the revenue gains, the stock has performed admirably. Shares in AHCO are up 210% this year.AdaptHealth grows by expanding its network of providers, and in recent months the company has made four acquisitions. The company closed deals on AeroCare, Solara Medical Supplies, ActivStyle, and Pinnacle Medical Solutions – all providers of in-home health care equipment. Deutsche Bank analyst Pito Chickering likes AHCO, describing the company’s year-to-date growth as “massive outperformance relative to most health care stocks.” The analyst believes that "despite the outperformance YTD there is plenty of upside left for AHCO.”Going on, Chickering writes, “[We] believe core organic growth of 8-10% will compound through the year, as well as a good balance sheet and free cash flows which would allow for additional tuck-in deals. Ultimately, we believe the multiples could expand into the home health range."Overall, Chickering has a Buy rating on AHCO shares, and his $47 price target implies nearly 39% upside from current levels. (To watch Chickering’s track record, click here)The Strong Buy analyst consensus on AHCO is unanimous, based on 7 recent Buy reviews. The shares are selling for $33.79, and the $40.93 average price target suggests room for 21% growth in 2021. (See AHCO stock analysis on TipRanks)Camping World Holdings (CWH)The last stock on our list is a camping supplies company, specifically, a retailer of RV and related gear. Camping World Holdings owns the largest share in that niche, and has seen its business grow during the coronavirus crisis – RVing is a viable, and socially distant consistent, mode of leisure in these times. The company’s network, over 200 retail locations, is spread across 36 states.CWH has seen steady growth at both the top and bottom lines during this pandemic year. Revenues were $1.03 billion in Q1; they hit $1.68 billion in Q3. Earnings, which showed an 11-cent loss in the first quarter, spiked to an impressive $1.44 per share in the third. Share value has reflected the earnings. While the company saw a dip in Q1, during the mid-winter market crash when the coronavirus prompted economic shutdowns, the stock has more than fully recovered. CWH shares are now trading up 111% year-to-date.Covering this stock for JPMorgan, analyst Ryan Brinkman says, “[S]tructural demand tailwinds relative to consumers looking to travel in such a way as to avoid contraction of COVID-19 seems set to continue to more than outweigh the cyclical headwinds impacting demand in many other end-markets. This growing demand, coupled with the company’s improved execution that resulted in breakout 2Q EBITDA performance, assuages earlier concerns relative to execution and leverage.”Brinkman’s $45 price target for CWH suggests 50% growth in the coming year, and supports his Overweight (i.e. Buy) rating. (To watch Brinkman’s track record, click here)All in all, the almost evenly split analyst reviews – 2 Buy and 3 Hold – makes the consensus view here a Moderate Buy. Shares in CWH are priced at $30.10 and have an average price target of $38.40, which implies 28% upside potential for the next 12 months. (See CWH stock analysis on TipRanks)To find good ideas for growth 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.
What's striking is that the stock market after the global financial crisis is closely tracking the bull markets between 1949 and 1968, and the one between 1982 and 2000.
Former Barron’s Roundtable member Jim Rogers is an investor and co-founder of the Quantum Fund with George Soros
Tesla Inc (NASDAQ: TSLA) may have a meager 0.8% global market share but, with its $540 billion valuation, it could acquire a legacy automaker, which Reuters' Christopher Thompson opines should be Germany's Daimler AG (OTC: DDAIF).The Right Fit: Thompson said that while Tesla's rivals in the United States such as General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) "hardly" fit the criterion for acquisition, but the $74 billion Daimler fits the bill because Tesla customers are aspirational and may be amenable to a luxury marquee.Other Candidates that were ruled out by the Reuters' writer include Bayerische Motoren Werke AG (OTC: BMWYY), due to family ownership, Volkswagen AG (OTC: VWAGY) due to its own electric ambitions, and Japanese companies, due to historical acquisition difficulties.Why Daimler: Daimler has the potential to boost the Elon Musk-led company's worldwide car output by nearly four times. The Stuttgart-based automaker's presence in China and Europe, the two biggest battery-vehicle markets would "reinforce Musk's electric offensive," wrote Thompson. He also pointed to the fact that Daimler held a small stake in Tesla in the past.Cherry On The Cake: Under existing U.S. stock-exchange rules, Tesla would require shareholder approval if it sought to increase its outstanding shares by more than 20%. This means, given the company's valuation it could, in theory, purchase a company worth $100 billion or more. Thompson said that Musk could purchase the "Benz empire" without even asking for permission. No Hostile Takeovers Please: On Tuesday, Musk had said in an interview with Axel Springer CEO Mathias Doepfner that Tesla was "definitely not going to launch a hostile takeover." He, however, said the electric vehicle maker was open to voluntary and friendly mergers. If a company says "hey, we think it would be a good idea to merge with Tesla,' we'd certainly have that conversation," Musk told Doepfner.Price Action: Tesla shares closed nearly 4.3% higher at $593.38 on Thursday. On the same day, Daimler OTC shares closed 1.4% lower at $68.56.Click here to check out Benzinga's EV Hub for the latest electric vehicles news. See more from Benzinga * Click here for options trades from Benzinga * Tesla Remains Only Automaker To Grow In Germany Through November, With 37% Rise In Registrations * Elon Musk's 'Fav Cryptocurrency' Is A Joke But Its 2020 Returns Are No Laughing Matter(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Americans worried about financial stress from the pandemic have until year’s end to take advantage of tax-friendly provisions in the Cares Act, moves that require some planning to avoid draining retirement funds or unleashing a hefty tax bill in the future.
See how cannabis stocks performed in the market this week including Aurora Cannabis, Cronos Group and Tilray.
A new refinance fee kicked in this week, potentially increasing the interest rate homeowners are quoted if they can’t convince the lender to waive the fee.
* This weekend's Barron's offers the guidance of a variety of experts on what's ahead for the global economy and the markets. * Another featured article examines why the Dividend Aristocrats may be the best bet now. * Also, the prospects for bank stocks and a highly anticipated IPO under a Biden administration."Howard Marks Outlines Investment Opportunities, Risks" by Lawrence C. Strauss offers wisdom from Howard Marks, co-chair of Oaktree Capital Management, whose strategies include distressed assets and high-yield debt. See why his regular memos to Oaktree clients are read widely on Wall Street and beyond.Reshma Kapadia's "Climate Change Is the Biggest Investment Opportunity Post-Covid" features advice from Afsaneh Mashayekhi Beschloss, founder and CEO of RockCreek. The firm manages $15 billion on behalf of pensions, endowments and foundations, with a focus on sustainability and emerging markets.In "The Biggest Investment Opportunity for Americans Is China, Bridgewater's Karen Karniol-Tambour Says," Reshma Kapadia features the views of the director of investment research at Bridgewater Associates, the world's largest hedge fund. Find out why her boss, Ray Dalio, once likened her to a "vacuum cleaner of learning."Jens Nordvig is the founder of Exante Data, whose focus on data helped the firm see just how big a problem COVID-19 would be -- and how to navigate it. So says "How to Invest in the Recoveries of the World's Hardest Hit Countries" by Ben Levisohn. See how to invest in the economic recoveries of Mexico, Thailand and other countries.In Andrew Bary's "Why Bitcoin Is the Best Investment Opportunity Post-Pandemic," see what historian Niall Ferguson, the prolific author, creator of the TV series The Ascent of Money and founder of Greenmantle, a macroeconomic and geopolitical advisory firm, has to say about what will drive the cryptocurrency higher."Overconfidence Could Be Investors' Biggest Mistake, Richard Thaler Says" by Jack Hough offers guidance from Nobel Prize-winning behavioral economist Richard Thaler, who is co-founder of Fuller & Thaler, an asset manager that looks for bargains created when investors overreact and underreact. See how investors can avoid being punished by overconfidence.See also: Benzinga's Bulls And Bears Of The Week: Amazon, Apple, Ford, GE, Palantir And MoreHome-sharing upstart Airbnb could be one of the hottest initial public offerings of the year, and it is poised to gain when travel recovers, according to Andrew Bary's "Airbnb's IPO Will Be Hot. Its Stock Will Be Worth the Price." Discover how much of a challenge the online marketplace poses to the likes of Expedia Group Inc (NYSE: EXPE) and to Marriott International Inc (NYSE: MAR). Its listing is expected in the middle of this month.In "7 Bank Stocks That Could Thrive in the Biden Era," Carleton English points out that the market found comfort in the naming of Janet Yellen as Treasury secretary, but it still favors regional banks such as Bank of New York Mellon Corp (NYSE: BK), Comerica Incorporated (NYSE: CMA) and Fifth Third Bancorp (NASDAQ: FITB) over the big banks.Lawrence C. Strauss's "Best Bet in a Down Year: The Dividend Aristocrats" says that consistent dividend growth over at least 25 years made up the best-performing basket of dividend stocks tracked by Wolfe Research, including many of the S&P 500 Dividend Aristocrats, such as AT&T Inc. (NYSE: T) and Johnson & Johnson (NYSE: JNJ).Also in this week's Barron's: * A checklist will get your financial life on track * Financial advice for women in their 50s * Financial advice for women in their 20s * Why the renminbi will gain wider use globally * How the COVID-19 crisis could turn into another financial crisis * Why the coronavirus pandemic was not a black swan event * How the ugly jobs report was may be good news for stocks * Why bond investors are taking on more risk * Whether gold prices will continue the march higher in 2021 * How the technology behind plant-based meat substitutes is just getting startedAt the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.Photo courtesy Airbnb.See more from Benzinga * Click here for options trades from Benzinga * Notable Insider Buys of the Past Week: Foot Locker, Icahn Enterprises, Kraft Heinz And More * Benzinga's Bulls And Bears Of The Week: Amazon, Apple, Ford, GE, Palantir And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Kieran Murphy, the CEO of General Electric Company's (NYSE: GE) GE Healthcare division, said in an update that management expects low-to mid-single-digit revenue growth in 2021, given rising COVID-19 cases globally, according to BofA Securities.The General Electric Analyst: Andrew Obin maintained a Buy on General Electric and raised the price target from $11 to $13.The General Electric Thesis: COVID-19 has accelerated the adoption of the company's health care software platform Edison, which includes both GE and third-party software, Obin said in a Friday note. "The outlook is also supported by backlog growth and stable trends in scans/machine," the analyst said. "GE is rolling out several new products with artificial intelligence including the first FDA-approved AI-based image reconstruction (Air Recon DL), embedded AI in mobile x-ray scanners (Critical Care Suite) and ultrasound (Logiq E-10)," he said. BofA raised its earnings estimates for the fourth quarter by 1 cent to 7 cents per share and for 2021 to 35 cents per share, to reflect "Healthcare's better trajectory."GE Price Action: Shares of General Electric were up 2.82% at $10.90 at last check Friday. Photo by Bubba73 via Wikimedia. Latest Ratings for GE DateFirmActionFromTo Dec 2020B of A SecuritiesMaintainsBuy Nov 2020UBSMaintainsBuy Nov 2020OppenheimerUpgradesPerformOutperform View More Analyst Ratings for GE View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Why Goldman Sachs Is Waiting For Teladoc's Merger Story To Unfold * Mizuho Initiates Coverage On Equinix With Bullish Rating(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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 500 investors on whether shares of FuelCell (NASDAQ: FCEL) or Plug Power (NASDAQ: PLUG) stock would grow the most by 2025. FuelCell Vs. Plug Power Stock Featured recently as a PreMarket Prep stock of the day, FuelCell Energy designs manufactures, sells, installs, operates, and services fuel-cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions. Geographically, FuelCell generates a majority of its revenue from the United States followed by South Korea.Several participants from our study remarked on what they believe are FuelCell's top competitive advantages from within the EV industry.One respondent noted how "Fuel cells have the built-in advantage of portability, a property which could ameliorate much of the uncertainty surrounding EVs on long trips. The need for plug-in stations should, at least in the short term, remain, thereby doing little to change the current charging station layout."Another reader who believes FuelCell stock will grow the most responded that "Until a viable maximum lasting battery power is achieved, a mass production of charging stations will be pointless to build since they'd have to upgrade all stations to fit battery output/input, therefore costing more to investors. I'm convinced fuel cell power could be mass produced to meet several markets' necessary charge points."Given Plug Power is a designer and producer of modern hydrogen and fuel cell technologies, it's worth noting how historically the Democratic platform is generally much more favorable toward clean energy stocks than the Republican platform.In an attempt to capture Plug Power's growth over time, see how much investing ,000 in Plug Power the day Barack Obama was elected would be worth today.About 51.4% of traders and investors said shares of FuelCell would grow more in the next five years, while 48.6% said Plug Power stock would grow more by 2025.Benzinga has been breaking actionable financial news and curating high-quality financial data sets since 2009. Learn more today about receiving stock and market data through APIs. This survey was conducted by Benzinga in December 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 500 adults.See more from Benzinga * Click here for options trades from Benzinga * Will Apple Or Google Stock Grow More By 2025? * Will Datadog Or Sumo Logic Stock Grow More By 2025?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- Iran is sending its biggest fleet yet of tankers to Venezuela in defiance of U.S. sanctions to help the isolated nation weather a crippling fuel shortage, according to people with knowledge of the matter.Some of the flotilla of about 10 Iranian vessels will also help export Venezuelan crude after discharging fuel, the people said, asking not to be named because the transaction is not public.The Nicolas Maduro regime is widening its reliance on Iran as an ally of last resort after even Russia and China have avoided challenging the U.S. ban on trade with Venezuela. The country’s fuel crunch follows decades of mismanagement, corruption and under-investment at state-owned Petroleos de Venezuela since the time of Maduro’s late mentor and predecessor, Hugo Chavez.The country that was once a top supplier of crude to the U.S. and boasted one of the lowest domestic gasoline prices in the world, now can barely produce any fuel.The last Iranian fuel shipments sent in early October on three vessels are running out, threatening steeper nationwide shortages with hours-long queues at gas stations.The current fleet under sail is about double the size of the one that first startled international observers in May, crossing a Caribbean Sea patrolled by the U.S. Navy, to be greeted by Maduro himself upon arrival.“We’re watching what Iran is doing and making sure that other shippers, insurers, ship owners, ship captains realize they must stay away from that trade,” Elliott Abrams, the U.S. special representative for Iran and Venezuela, said in September.Also See: One Stranded Tanker Signals Perils of Trading With VenezuelaSeveral vessels that transported fuel to Venezuela earlier this year, including Fortune and Horse, turned off their satellite signal at least ten days ago, according to Bloomberg tanker-tracking data. Turning off transponders is a commonly used method by ships hoping to avoid detection. In other instances of Iranian aid to Venezuela, ship names were painted over and changed to obscure the vessel’s registration.Venezuela Defies U.S. Sanctions With First Iranian Oil ImportThe oil ministry in Tehran declined to comment on the matter. Messages sent to several officials at PDVSA, as Venezuela’s state oil company is known, weren’t immediately answered.In addition to importing fuel, Venezuela also needs to export enough crude oil to free up storage space and prevent field stoppages, a task made more difficult by the sanctions against Maduro’s regime. Production at Venezuela’s network of six refineries has gone into steady decline, with spills and accidents becoming routine. Maduro’s government has increased pressure on the poorly-maintained infrastructure to ensure output for local consumption.Sanctions have made it difficult to import parts or hire contractors, and the Maduro regime is running out of cash.Consequently, the two nations are also discussing ways for Iran to help Venezuela overhaul its Cardon refinery, the last fuel plant there to operate more or less regularly, people with knowledge of the situation said. In 2018, Chinese oil companies also looked at helping Venezuela fix its refineries, but lost interest after a review of the installations, people familiar with those plans said.It’s unclear whether the Iranians would be able to achieve what the Chinese didn’t. Venezuela’s refineries were built and operated for decades by U.S. and European oil majors until nationalization in the 1970s. Even then, PDVSA relied on U.S. technology and parts for maintenance and expansions. This means the Iranians will need to make certain parts from scratch to carry out key repairs. Some fixes made in June and July haven’t been successful yet and four local contractors are still conducting repairs, said one of the people.Maduro is under renewed international pressure after the opposition decided to boycott Dec. 6 National Assembly elections that are widely considered to be overseen by Maduro loyalists. Maduro is hoping for a big turnout to claim he has public support.(Updates with comment from Iran in ninth 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.
Oil prices have been rising for the past few weeks as promising data has come about the effectiveness of Covid-19 vaccines and production has remained relatively low. On Friday, Brent crude futures, the international benchmark, rose to just shy of $50 a barrel, a key level that could signal a sustainable return for oil companies. West Texas Intermediate crude futures, the U.S. benchmark, was up 0.4%, to $45.81 a barrel, on Friday.
Dow Jones futures: After another strong week, there are reasons to bullish or cautious about the stock market rally. Apple and Google are in buy zones.