Yahoo Finance's Adam Shapiro, Julie Hyman, and Brian Sozzi join Entrepreneur Magazine Editor Jason Feifer to discuss.
Yahoo Finance's Adam Shapiro, Julie Hyman, and Brian Sozzi join Entrepreneur Magazine Editor Jason Feifer to discuss.
Medical company Abbott has now launched a handful of coronavirus tests, and the U.S. is paying $750 million for 150 million of one of its recently approved tests. So, is ABT stock a buy now?
With the Biden Administration likely to pump trillions into green energy infrastructure in the coming years, renewable stocks should outperform the market
Other auto stocks joins in the impressive rally in Tesla's stock. Here's why.
Individual retirement accounts (IRAs) and 401(k) plans provide little guidance on how to turn accumulated assets into income. What if I'm in my 40s and don't have a retirement fund? Some experts say that by age 40 you should have at least three times your salary saved for retirement. Alternatively, they could use their assets to delay claiming Social Security, effectively buying more annuity income.
United Airlines posted a $2.1 billion fourth quarter loss, its fourth in-a-row, and issued a tepid near-term forecast amid a global pandemic that has "changed United Airlines forever', according to CEO Scott Kirby.
The fossil-fuel divestiture movement grabbed headlines in December when New York’s state comptroller said the $226 billion New York State pension fund plans to drop many of its fossil-fuel stocks in the next five years and sell shares in other companies that contribute to global warming. The fund owns stakes in big oil — stocks like Exxon Mobil (XOM) and Chevron (CVX) as of Sept. 30, according to Holdings Channel — and shunning fossil-fuel investment is a hallmark of longtime socially responsible mutual funds.
Johnson & Johnson is expected in late January to unveil Phase 3 study results for its coronavirus vaccine — leading JNJ stock to a record high. So, is Johnson & Johnson stock a buy?
U.S. President Joe Biden's promised ban on new oil and gas drilling on federal lands would take years to shut off production from top shale drillers because they already have stockpiled permits, according to Reuters interviews with executives. But smaller independent oil drillers without the resources of big corporations were more worried about Biden's vow to toughen regulations and stop issuing new permits on federal lands, part of his sweeping plan to combat climate change and bring the economy to net zero emissions by 2050. Federal lands are the source of about 10% of U.S. oil and gas supply.
Congressional leaders plan to get "right to work" on it. How soon might you get the cash?
(Bloomberg) -- Joe Biden canceled the Keystone XL oil pipeline hours after becoming president, killing once again a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump.In one of his first major environmental actions, Biden on Wednesday revoked TC Energy Corp.’s pipeline permit, according to a person familiar with the orders Biden signed.The move brings Keystone’s fate full circle, repeating a decision made in 2015 by President Barack Obama to keep the pipeline from crossing the border. Trump reversed that in 2017 on his fourth full day in office over the objections of environmental groups.TC Energy said it was “disappointed” and would suspend work on the project, leading to the layoff of thousands of workers. The decision overturns “an unprecedented, comprehensive regulatory process that lasted more than a decade and repeatedly concluded the pipeline would transport much-needed energy in an environmentally responsible way,” said the Calgary-based company.TC Energy shares closed down 1.15%, to C$55.92 in Toronto trading.Environmentalists are counting on the latest rejection -- coming more than a dozen years since the pipeline was first proposed -- to stick. They argue the project would provide an outlet for heavy Canadian oil sands crude extracted in Alberta through particularly energy-intensive processes that ratchet up its carbon footprint.“Putting a stop to the dirty and dangerous Keystone XL tar sands pipeline immediately and once and for all would be an important first step and testament to the leadership of the diverse grassroots movement that has long pushed to stop it and other harmful pipelines,” said Tiernan Sittenfeld, a senior vice president with the environmental group League of Conservation Voters.The U.S. Chamber of Commerce was critical of the decision.“The pipeline -- the most studied infrastructure project in American history -- is already under construction and has cleared countless legal and environmental hurdles,” Marty Durbin, president of the chamber’s Global Energy Institute, said in a statement. “This is a politically motivated decision that is not grounded in science.”Biden promised the action on the campaign trail, yet his formal step still provoked outrage from oil industry leaders, some Canadian interests and labor unions that support the project.“The Biden administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1,” said the United Association of Union Plumbers and Pipefitters in an emailed statement based on news reports before the action.Construction of Keystone XL already began last year, jump started with a $1.1 billion investment by the province of Alberta. Whole segments of the line, including one that crosses to U.S.-Canadian border, have already been built.TC Energy has worked to make the project more palatable to a Democratic administration, inking labor agreements with four major pipeline unions last August, agreeing to sell an equity stake in the line to indigenous communities along the route and promising to power it entirely with renewable energy.Still, Keystone XL has been a lightning rod for controversy and a litmus test for environmentalism almost since it was first proposed in 2005. The 1,179 mile (1,897 kilometer) segment is designed to move oil from Alberta through Montana, South Dakota and Nebraska, then connect with an existing network feeding crude to the Gulf Coast. The line would carry as much as 830,000 barrels of oil a day.Opponents argue it will stimulate oil sands development, contributing to climate change.Years ago, proponents of the controversial crude pipeline argued that more of Canada’s cheaper, heavy crude would help fuel producers on the U.S. Gulf Coast wean off supplies from countries like Venezuela or the conflict-prone Middle East.But refiners in Texas and Louisiana have become increasingly flexible, using more of the abundant light oil from shale fields. Plus, Canadian crude’s price advantage has narrowed, and imports from the country have roughly doubled in a decade to a steady flow of more than 3.5 million barrels a day, without Keystone XL.“It’s not an issue for refiners,” said Robert Campbell, head of oil products research at Energy Aspects Ltd. “They can switch into domestic light. The hurt would be on oil sands producers.”Sandy Fielden, director of oil research at Morningstar Inc., said doing away with Keystone in the short run won’t affect the supply of Canadian oil because of plans to expand another line and use existing infrastructure.“Those will be sufficient to meet local needs at least for now,” Fielden wrote in a statement. “If anything, scrapping the Keystone XL system would favor U.S. buyers since it would cause a backup of supplies in Canada that would ultimately pressure prices lower and more attractive.”From the archive -- Why the Keystone Project Is Controversial: QuickTakeCanadian Prime Minister Justin Trudeau expressed disappointment in the pipeline decision.“While we welcome the president’s commitment to fight climate change, we are disappointed,” Trudeau said in a statement. “I look forward to working with President Biden to reduce pollution, combat climate change, fight COVID-19, create middle class jobs, and build back better by supporting a sustainable economic recovery for everyone.”Keystone XL was one of only a handful of energy and mining projects Biden took an explicit stand against while on the campaign trail. Environmentalists emboldened by his move on Keystone are already pressuring him to revoke a critical authorization allowing continued operation of Energy Transfer LP’s Dakota Access oil pipeline and take action against Enbridge Inc.’s plan to replace and expand its aging Line 3 pipeline from Alberta to Superior, Wisconsin.“It’s exciting news,” said Dallas Goldtooth, an organizer with the Indigenous Environmental Network. “Now what are you going to do about Line 3 and the Dakota Access pipeline? We are happy, but we want to see what comes next.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
FCEL stock fell sharply early Thursday on a mixed FuelCell Energy earnings report. Plug Power and other fuel cell stocks also retreated.
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Shares of Celsion Corp. shot up 85.1% toward a six-month high in very active premarket trading Thursday, putting the on track to more than double in two days, after the cancer drug development company disclosed that it terminated the share purchase agreement with Lincoln Park Capital (LPC). Trading volume swelled to 18.9 million shares, enough to make the stock the second-most active ahead of the open, and well above the full-day average of about 4.6 million shares. The stock had run up 40.0% on 38.7 million shares on Wednesday, after closing Tuesday at 91 cents. The stock purchase agreement, which was originally announced in September 2020, called for Celsion to sell to LPC up to $26 million worth of shares over 36 months. Since that agreement was announced, Celsion had sold $2.2 million worth of its common stock to LPC. The stock has more than doubled (up 116.5%) over the past three months through Wednesday, while the S&P 500 has gained 12.1%.
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Alibaba Group Holding Ltd (NYSE: BABA) co-founder Jack Ma reappeared in public view on Wednesday sending the company's shares soaring 5.5% in New York but concerns persist about the Chinese company's frayed relationship with its government.Investors are seeking more reassurance on the regulatory environment surrounding the e-commerce giant. Here's what they are saying:Just Appearing Is Not Enough: William Huston, founder of Bay Street Capital Holdings, a California-based investment advisory firm said, "We all know that just because he showed up ... doesn't necessarily explain what is going on." Huston's firm has reduced its position in Alibaba from 8% of the portfolio to less than 1%, reported Reuters. See Also: Alibaba Shoots Up 8.5% As Jack Ma Makes First Public Appearance In Months"When you don't know what to do in an evolving situation like this you can't use traditional securities analytics to reach decisions. We are standing aside and watching," said David Kotok, chief investment officer at Florida's Cumberland Advisors.Jack Ma's Value: Investors also place value on the leadership that Ma provided to the Chinese conglomerate. Houston said, "One of our top criteria is leadership and we were investing in Alibaba because I really respect Jack Ma as a leader."Alibaba Still In Hot Water: The reappearance of the company's founder does not mean Alibaba is in the clear."Alibaba is not out of the doghouse, but at least it's clear that the current anti-monopoly drive is not about punishing Jack Ma," said Zhang Fushen, Senior Analyst at Shanghai PD Fortune Asset Management, Al Jazeera reported.See Also: The Ant Financial IPO Is Xi Jinping's Latest Battle With Big BusinessBrock Silver, managing director at Kaiyuan Capital, a Hong Kong-based private-equity fund noted that while Ma's reappearance is a sign that his relationship with China's regulatory authorities has stabilized, it doesn't imply that "Ma's corporate empire is free from worry," Singapore's Straits Times newspaper reported."[Ma's] reappearance can only be a good thing. But it's unhelpful to speculate on the viability of an Ant Group listing at this point," said Wei Wei Chua, portfolio manager at Mirae Asset Global Investments Hong Kong, as per Straits Times. The investor was referring to the suspended mega IPO of Alibaba's fintech arm which fell through in November.Price Action: Alibaba shares closed 5.5% higher at $265.49 on Wednesday and gained 0.1% in the after-hours session in New York.Photo courtesy: World Economic Forum via WikimediaSee more from Benzinga * Click here for options trades from Benzinga * Alibaba Shoots Up 8.5% As Jack Ma Makes First Public Appearance In Months * PayPal Becomes First Foreign Company To Fully Own A Payments Platform In China(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- Investors want to know one thing when Intel Corp. reports results Thursday: Will the world’s largest chipmaker outsource more production? We may already have an answer, judging by recent comments from other parts of the industry.On Tuesday, ASML Holdings NV, a key provider of chipmaking equipment, said it is shifting orders for some of its most advanced machines from one customer to others. It didn’t say who, but the company was likely referring to orders moving from Intel to other chipmakers, such as Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co.These two companies produce semiconductors for others. If Intel were outsourcing more, it would need fewer ASML machines, while TSMC and Samsung would need more gear to handle the extra work.Intel will likely address its manufacturing strategy after it reports fourth-quarter results. Investors and analysts have criticized the company for falling behind and failing to deliver a concrete plan during previous earnings reports.“Beyond the financials, investors will be looking for more clarity on Intel’s long-term strategy and manufacturing game plan,” Christopher Rolland, an analyst at Susquehanna Financial Group, wrote in a recent research note. “We would be encouraged if the plan included outsourcing of at least some of the core PC/server products.”Last week, TSMC dropped more clues. It unveiled plans to increase 2021 capital spending to as much as $28 billion, a record and a huge jump from $17.2 billion in 2020. That fueled speculation it’s putting capacity -- ASML machines and other gear -- in place to fill large orders from Intel.The Taiwanese company’s executives declined to comment on customers. However, Intel has talked with TSMC and Samsung about the Asian companies making some of its best chips, Bloomberg reported recently.Read more about Intel Talks With TSMC and Samsung here.TSMC and Samsung have production technology that’s now more advanced than Intel, which has always made its best products in-house and previously led the industry. Manufacturing is one of the key factors in making chips that can crunch information faster, store more data and use less electricity.Intel may not deliver its final answer on Thursday, though. The company just replaced Chief Executive Officer Bob Swan with former executive Pat Gelsinger, who will take over next month. Swan said he would announce whether to outsource production, and by how much, during the first quarter, but Gelsinger may need more time to develop his own strategy.While investors focus on Intel’s future plans, it has been racking up record earnings on demand for personal computers as large chunks of the population work and study from home. The increasing use of cloud services has also bolstered sales of its Xeon server chips, which are the heart of data centers run by companies such as Google and Amazon.com Inc.When it announced the appointment of Gelsinger, Intel said fourth-quarter earnings would exceed its forecasts and had made “strong progress’ on its latest manufacturing process, known as 7 nanometer. In July, Intel shares slumped 16% when the company warned this technology would be a year late.Analysts expect Intel revenue fell 13% in the fourth quarter to $17.5 billion and they see sales declining 18% year-over-year to $16.18 billion in the current period. For 2021, sales are projected to fall 7%, the first annual contraction since 2015, according to average analysts’ estimates compiled by Bloomberg.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.