Mark Morgan, Acting Customs Border Patrol Commissioner, reacts to change in immigration policy from President Trump to President-elect Joe Biden.
Mark Morgan, Acting Customs Border Patrol Commissioner, reacts to change in immigration policy from President Trump to President-elect Joe Biden.
This year has already started with a bang, and with a “blue wave” looming over the United States, three industries could be ready to explode
(Bloomberg) -- Wealthy investors rushed to offload stock in Alibaba Group Holding Ltd. after China began an investigation into alleged monopolistic practices at billionaire Jack Ma’s internet giant, according to Citigroup Inc.’s private bank.“A large number” of the bank’s ultra-rich clients from the Europe, the Middle East and Africa region cut or exited their holdings in China’s largest e-commerce firm in December, after reports of the probe emerged, Citi Private Bank’s Lab for Family Offices said in a report released Tuesday. China’s stock market previously attracted significant inflows from the firm’s wealthiest customers in the second half of the year, according to the report.Once hailed as drivers of economic prosperity and symbols of the country’s technological prowess, Alibaba and rivals including Tencent Holdings Ltd. face increasing pressure from regulators after amassing hundreds of millions of users and gaining influence over almost every aspect of daily life in China. The $35 billion initial public offering of Alibaba’s affiliate payments firm -- Ant Group Co. -- was abruptly halted last year, helping send Alibaba’s American depositary receipts down more than a fifth since late October.Read more: China Halts Ant Group’s IPO, Throwing Ma Empire Into TurmoilChina’s central bank said last week that Ant Group is working on a timetable to overhaul its business while ensuring operations continue, underscoring the determination to rein in Ma’s business and offering little clue on how far the firm needs to go to assuage Beijing. Ant Group makes up more than a quarter of Ma’s $52.9 billion fortune, according to the Bloomberg Billionaires Index.Alibaba shares jumped as much as 11% in Hong Kong trading on Wednesday as Ma resurfaced for the first time since early November, when he went quiet amid the government’s probes into Ant and Alibaba. He addressed teachers via livestream during an annual event he hosts for rural educators, people familiar with the matter said, helping quell rumors about his fate.(Updates to add details in second paragraph and stock move in last)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.
Alibaba Group founder Jack Ma made his first appearance since October on Wednesday when he spoke to a group of teachers by video, easing concern about his unusual absence from public life and sending shares in the e-commerce giant surging. Speculation over Ma's whereabouts has swirled in the wake of news this month that he was replaced in the final episode of a reality TV show he had been a judge on, and amid a regulatory clampdown by Beijing on his sprawling business empire. The billionaire, who commands a cult-like reverence in China, had not appeared in public since Oct. 24, when he blasted China's regulatory system in a speech at a Shanghai forum.
IBM Watson picked these stocks to outperform.Artificial intelligence will likely revolutionize the global economy in the next several decades, and Wall Street is not immune to the AI disruption.
Chip shortages around the world have created an opportunity for investors to take a look at semiconductor distribution companies.
Rivian, an electric vehicle startup backed by Amazon.com Inc and Ford Motor Co that aims to put an electric pickup and SUV in production this year, on Tuesday announced a $2.65-billion investment round led by T. Rowe Price. Rivian said it has raised $8 billion since the start of 2019. The California company's new valuation with this latest investment is $27.6 billion, according to a person familiar with Rivian's financials.
Wall Street has been looking at Nio Limited (NIO) of late, and investors seem to like what they see. Over the past 12 months, NIO stock is up a whooping 1017%, and remains close to its 52-week high. It probably hasn't hurt that the Chinese EV manufacturer released solid December car deliveries, showing a huge step forward. As expected, the fund-raising dip in December was another buying opportunity. The forecasted large growth rate in the Chinese EV market should lead to another big year for Nio. Big Monthly Delivery Increase Nio delivered 7,007 units during December for a big step up from the 5,291 in November. The Chinese EV company had generally seen small monthly delivery increases since April as the sector raced ahead. For December, Nio had a nearly equal delivery of ES8, ES6 and EC6 models. In total, Q4 deliveries were 17,353 EVs while the full-year count was only 43,728 vehicles. The company is already on an annualized rate of 84,000 cars. In comparison XPeng (XPEV) had 5,700 deliveries while Tesla (TSLA) reached totals of nearly 500,000 units for the year. Nio remains a leader in China, but the company is far behind Tesla as a global EV manufacturer. The company unveiled a new sedan called the ET7 at the fourth Nio Day on January 9. The EV will cost between $70K and $85K so the company isn’t going to catch up with competitors on volumes with the ET7. Possibly the biggest news was a 150 kilowatt-hour battery pack with a claimed range of 625 miles. Batter technology will remain a distinguishing factor in EV sales. Chinese Market Surge The Chinese EV market is set to surge to 1.8 million vehicles in 2021, up 40% from 1.3 million vehicles last year. Despite the 100% growth rate in 2021, Nio still only has a fraction of the business. While the company selling shares at only $39 last month now seems ill timed with the stock near $60, Nio is poised with capital to build out manufacturing and further attack a market where the company only has EV market share in the 3% range. The total Chinese vehicle market approaches 3 million units monthly so Nio hardly registers on total sales. Due to this vast opportunity, the company raised another $1.3 billion via convertible debt. In total, Nio has raised over $4 billion in the last month to fund growth. Analysts have sales nearly doubling to $4.6 billion this year and surging again to $7.5 billion in 2022. The greenfield market opportunity in China appears to easily support Nio reaching these sales targets. However, the stock has a market value of $90 billion, so it will dip on any missteps. Takeaway The key investor takeaway is that Nio appears poised to further capture market share in a growing Chinese EV market. The company continues to innovate in battery technology and autonomous driving. As always, Chinese stocks have additional risks due to regulatory concerns and transparency issues. Those interested in the Nio story and willing to take the risk should use any pain from news of new competitors entering the market as an opportunity to the EV stock. Overall, Wall Street is divided on NIO shares, a circumstance reflected in the Moderate Buy analyst consensus rating. That rating is based on 13 reviews, including 7 Buys and 6 Holds. (See NIO stock analysis on TipRanks) Disclosure: No position. Disclaimer: The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities.
Tesla Inc. (NASDAQ: TSLA) and Bitcoin (BTC) are more likely to see their values halved than doubled over the period of next 12 months, according to the majority of respondents in a Deutsche Bank survey published Tuesday.What Happened: Deutsche Bank surveyed 627 market professionals last week, with 89% of respondents saying they find some financial markets to be in the bubble territory, as first reported by CNBC."When asked specifically about the 12 month fate of Bitcoin and Tesla -- a stock emblematic of a potential tech bubble -- a majority of readers think that they are more likely to halve than double from these levels with Tesla more vulnerable according to readers," Deutsche Bank said, as per CNBC.The survey respondents rated Bitcoin 10 out of 10 on the bubble scale while U.S. tech stocks overall got a score of 7.9.Nevertheless, Deutsche Bank noted that survey respondents see "easy monetary situations" as likely to continue through 2021 with the Federal Reserve unlikely to tighten monetary policy before the year is out.Why It Matters: Bitcoin's spectacular rally saw it hit an all-time high of $41,429.38 on Jan. 8 from trading below the $10,000 level in July last year.The apex cryptocurrency has since cooled-off, trading at around $35,962 at press time.According to JPMorgan analysts, Bitcoin could cross the $40,000 mark again in the coming weeks if investor interest in Grayscale Bitcoin Trust (OTC: GBTC) remains high. If that fails to happen, the cryptocurrency risks further crash.Tesla too has seen a massive 700% over the trailing one-year period, with Elon Musk becoming the world's richest person -- overtaking Amazon.com Inc.'s (NASDAQ: AMZN) Jeff Bezos. Nevertheless, the EV maker continues to inspire optimistic price targets from analysts, with Wedbush's Daniel Ives giving a bull case target of $1,250.See Also: Chasing Tesla, Major Tech Companies Team With Automakers To Enter EV SpacePrice Action: Tesla stock closed 2.23% higher at $844.55 on Tuesday, and traded about 0.15% lower in the after-hours.See more from Benzinga * Click here for options trades from Benzinga * JPMorgan Sees Bitcoin Crossing K Again In Coming Weeks, If This Key Condition Is Met * Bitcoin Rally Pause Gives DeFi, Smart Contract Cryptos The Time To Shine(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Bionano Genomics Inc. on Tuesday announced its second share sale in less than a month amid an unexplained spike in its price and volume, sending shares down in after-hours trading. Bionano did not disclose a targeted number of shares nor price in its offering, but the stock still fell more than 8% in the extended session. Bionano previously sold 29 million shares at $3.05 a share less than two weeks ago, as shares traded on the open market for more than $5. The stock has since continued to ride higher, closing at an all-time high of $9.14 Tuesday. Bionano shares traded for less than $1 for much of 2020, before prices shot higher just before the end of the year despite no public announcements about changes at the genome-analysis company, which lost nearly $30 million on sales of $4.5 million in the first nine months of 2020.
See who joins PayPal, Veeva and Lululemon on this screen of Warren Buffett stocks based on the investing strategy of the Berkshire Hathaway CEO.
Netflix soundly beat analyst expectations for subscriber growth in Q4, adding more than 8.5 million users.
Over the last half decade or so, hardly any stocks have outperformed the market to the extent Advanced Micro Devices (AMD) has. The huge market gains have been a reflection of the company’s real-world performance, which has seen the chipmaker considerably close the gap on its traditionally much bigger rival Intel (INTC). Apart from offering superior products, AMD has made the most of Intel’s production delays to eat away at its CPU dominance. However, 2021 is shaping up to be a different year to recent ones. Intel has been taking meaningful steps to turn its business around, and only recently appointed a new CEO, and one with proper pedigree at that. Deutsche Bank analyst Ross Seymore notes how the new figure at the rival’s helm, could impact AMD’s forward charge. “While we expect AMD to continue to execute on its new product ramps, and any changes to INTC’s manufacturing strategy will not impact competitive intensity for at least 2-3 years, we do expect this topic to increasingly weigh on the LT AMD thesis,” the 5-star analyst noted. “Consequently, despite increasing our revenue estimates in the near term (higher semi-custom + PC CPU revenue, with EPS slightly falling due to a higher tax rate in 2021), we expect the increased uncertainty around competitive intensity to weigh on AMD’s already premium valuation.” While Seymore tempers expectations of future performance, he expects AMD to beat the estimates when the company reports 4Q20 earnings early next month (Feb 2.). Seymore expects AMD to deliver revenue of $3.06 billion, a 9% quarter-over-quarter uptick, near the high end of AMD’s guidance and above the $3.02 billion consensus estimate. While on the bottom line, Seymore anticipates EPS of $0.48, above his previous forecast of $0.47. Looking further ahead, while Seymore says AMD might be at risk of losing market share to Intel over the long term, “given positive data points in the gaming ecosystem,” the analyst raised his 1Q21 revenue estimate from $2.76 billion to $2.84 billion (Street expects to $2.70 billion). That said, for now, Seymore expects AMD shares to stay range bound. The analyst rates the stock a Hold, along with a $90 price target. (To watch Seymore’s track record, click here) Where does the rest of the Street side on this chip player? AMD maintains a Moderate Buy from the analyst consensus, based on 23 recent ratings. These include 15 Buys, 6 Holds, and 2 Sells. Shares are trading at $89.45, and the $96.55 average price target suggests room for about 8% upside. (See AMD stock analysis on TipRanks) To find good ideas for chip 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.
See what the experts anticipate for home borrowers under the new administration.
Shares of AMC Entertainment (AMC) soared more than 30% during Tuesday’s session after announcing a secured debt deal to give the struggling theater company a liquidity boost.
Semiconductor stocks have got off to a strong start in the new year. Following the Consumer Electronics Show (CES) 2021, an analyst at BofA Securities outlined the key emerging trends that could impact trading in semiconductor stocks.1\. Intel CEO Transition: Intel Corporation's (NASDAQ: INTC) appointment of industry veteran Pat Gelsinger to enhance technical depth among the top rank is a welcome development, analyst Vivek Arya said in a note.Involvement of an activist investor, robust PC market, positive preannouncement for the fourth quarter and new 10nm product announcements at the CES, as well as the promise of 7nm improvements all led to the 16% year-to-date rally in the stock, the analyst added.However, the CEO transition is unlikely to reverse Intel's market share loss to Advanced Micro Devices, Inc. (NASDAQ: AMD), non-CPU building blocks including accelerators and DPUs and alternative ARM-based internal chip designs from customers such as Apple Inc (NASDAQ: AAPL) and Amazon.com, Inc. (NASDAQ: AMZN), the analyst said.Intel's manufacturing fixes, including partial outsourcing to Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM), aren't likely to bear fruit before late 2022 or 2023, Arya said.Related Link: Why Applied Materials Is Needham's Top SemiCap Pick For 20212\. Taiwan Semiconductor Capex Boost: The beneficiaries from Taiwan Semiconductor's surprising decision to boost capital spending by 50% are semiconductor capital equipment stocks such as Applied Materials, Inc. (NASDAQ: AMAT), KLA Corp (NASDAQ: KLAC), Lam Research Corporation (NASDAQ: LRCX) and Teradyne, Inc. (NASDAQ: TER), Arya said.Semiconductor capital equipment stocks, the analyst said, will also benefit from Intel's desire to maintain its internal manufacturing, and the trend towards greater onshoring of semi production globally.3\. Auto Chip Shortage -- Short-Term Handicap, But Long-Term Positive: With auto production expected to sharply rebound in 2021 and estimated to grow 10-15% on a year-over-year basis, chip supply is found in shortage, Arya said."L-t, capacity additions and dissipating COVID-19 headwinds should ease constraints, with EVs (~2% of mkt) and growing infotainment, safety, and ADAS apps driving auto semi growth well above SAAR for several years," the analyst wrote in the note.4\. SMID-cap, Semi Equipment Stocks In Favor: The top five year-to-date gainers are Applied Materials, KLA, II-VI, Inc. (NASDAQ: IIVI) and Lam Research, Arya noted. This is due to rising rates that has led to near-term rotating investor flows out of higher PE, more "secular growth" stocks, he added.Photo: Taiwan Semiconductor Manufacturing Co., Ltd.See more from Benzinga * Click here for options trades from Benzinga * ViacomCBS To Launch Paramount+ Streaming Service March 4: What You Need To Know * Lilly Awash In Catalysts, Pipeline Updates, Mizuho Says In Upgrade(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stock markets are up and holding near record high levels, a condition that would usually make life difficult for dividend investors. High market values normally lead to lower dividend yields – but even in today’s climate, it’s still possible to find a high-yielding dividend payer. You need to look carefully, however. The market story of the past year has been unusual, to say the least. Last winter saw the steepest and deepest recession in market history – but it was followed by a fast recovery that is only now slowing. Many companies pulled back on their dividends at the height of the corona panic, but now they are finding that yields are too low to attract investors, and are looking to start increasing payments again. In short, the valuation balance of the stock market is out of whack, and equities are still trying to regain it. It’s leaving a murky picture for investors as they try to navigate these muddy waters. Wall Street’s analysts and the TipRanks database together can bring some sense to the seemingly patternless situation. The analysts review the stocks, and explain how they are fitting in; the TipRanks data provides an objective context, and you can decide if these 10% dividend yields are right for your portfolio. Ready Capital Corporation (RC) We will start with a real estate investment trust (REIT) that focuses on the commercial market segment. Ready Capital buys up commercial real estate loans, and securities backed by them, as well as originating, financing, and managing such loans. The company’s portfolio also includes multi-family dwellings. Ready Capital reported solid results in its last quarterly statement, for 3Q20. Earnings came in at 63 cents per share. This result beat expectations by 75% and grew 133% year-over-year. The company finished Q3 with over $221 million in available cash and liquidity. During the fourth quarter of 2020, Ready Capital closed loans totaling $225 million for projects in 11 states. The projects include refinancing, redevelopment, and renovations. Fourth quarter full results will be reported in March. The extent of Ready Capital’s confidence can be seen in the company’s recent announcement that it will merge with Anworth Mortgage in a deal that will create a $1 billion combined entity. In the meantime, investors should note that Ready Capital announced its 4Q20 dividend, and the payment was increased for the second time in a row. The company had slashed the dividend in the second quarter, when COVID hit, as a precaution against depressed earnings, but has been raising the payment as the pandemic fears begin to ease. The current dividend of 35 cents per share will be paid out at the end of this month; it annualizes to $1.40 and gives a sky-high yield of 12%. Covering the stock from Raymond James, 5-star analyst Stephen Laws writes, “Recent results have benefited from non-interest income and strength in the loan origination segment, and we expect elevated contributions to continue near-term. This outlook gives us increased confidence around dividend sustainability, which we believe warrants a higher valuation multiple.” Laws sees the company’s merger with Anworth as a net-positive, and referring to the combination, says, “[We] expect RC to redeploy capital currently invested in the ANH portfolio into new investments in RC's targeted asset classes.” In line with his comments, Laws rates RC shares an Outperform (i.e. Buy), and sets a $14.25 price target. His target implies an upside of 23% over the next 12 months. (To watch Laws’ track record, click here) There are two recent reviews of Ready Capital and both are Buys, giving the stock a Moderate Buy consensus rating. Shares in this REIT are selling for $11.57 while the average price target stands at $13.63, indicating room for ~18% upside growth in the coming year. (See RC stock analysis on TipRanks) Nustar Energy LP (NS) The energy and liquid chemical markets may not seem like natural partners, but they do see a lot of overlap. Crude oil and natural gas are highly hazardous to transport and store, an important attribute they share with industrial chemicals and products like ammonia and asphalt. Nustar Energy is an important midstream player in the oil industry, with more than 10,000 miles of pipeline, along 73 terminal and storage facilities. The relatively low oil prices of the past two years have cut into the top and bottom lines of the energy sector – and that is without accounting for the COVID pandemic’s hit to the demand side. These factors are visible in Nustar’s revenues, which fell off in the first half of 2019 and have remained low since. The 3Q20 number, at $362 million, stands near the median value of the last six quarters. Through all of this, Nustar has maintained its commitment to a solid dividend payout for investors. In a nod to the pandemic troubles, the company reduced its dividend earlier this year by one-third, citing the need to keep the payment sustainable. The current payment, last sent out in November, is 40 cents per share. At that rate, it annualizes to $1.60 and gives a yield of 10%. Barclays analyst Theresa Chen sees Nustar as a solid portfolio addition, writing, “We think NS offers unique offensive and defensive characteristics that position the stock well vs. midstream peers. NS benefits from a resilient refined products footprint, exposure to core acreage in the Permian basin, a foothold in the burgeoning renewable fuels value chain, as well as strategic Corpus Christi export assets… we think NS is a compelling investment idea over the next 12 months.” Chen sets a $20 price target on the stock, backing her Overweight (i.e. Buy) rating and suggesting ~27% upside for the year. (To watch Chen’s track record, click here) Interestingly, in contrast to Chen's bullish stance, the Street is lukewarm at present regarding the midstream company's prospects. Based on 6 analysts tracked by TipRanks in the last 3 months, 2 rate NS a Buy, 3 suggest Hold, and one recommends Sell. The 12-month average price target stands at $16.40, marking ~5% upside from current levels. (See NS 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.
Delivery of the new machines is set to start in May.
At a time when millions of people are strapped for money and counting on their income tax refund or a stimulus check, they’ll have to wait a little longer before they can file their taxes. Feb. 12 marks the first date the Internal Revenue Service will start accepting and processing returns. Tax season started Jan. 27 last year.
(Bloomberg) -- Fuelcell Energy Inc., a clean-energy developer that hasn’t reported an annual profit in 20 years, is hardly a household name. But thanks to the mania for green stocks, the company’s market value has soared 800% in recent months to reach $5.6 billion.It’s not alone. Since November, a wave of once-obscure clean-energy companies have seen their valuations skyrocket into the billions -- despite generating little or no net income. Some of them are riding Tesla Inc.’s coattails after the industry giant’s own market capitalization reached a record $834 billion this month, topping that of Facebook Inc. Others have struck potentially lucrative partnerships or are simply surging on Wall Street’s confidence in a green transition under President-Elect Joe Biden.“A relatively small portion of these gains have come from actual increases in earnings or cash flow,” said Pavel Molchanov, an energy analyst at Raymond James. “It’s really coming more from lofty expectations of growth in the future, and in some cases the distant future.”Here’s a look at some of the companies whose stocks have rallied the most in recent months.FuelCellFuelCell Energy Inc., founded in 1969, was a pioneer in commercializing devices that generate electricity through an electro-chemical process. But it hasn’t recorded an annual profit since 1997 and was nearly insolvent 19 months ago. The shares began rising sharply in mid-November as interest in hydrogen and fuel cells in general was surging. The company’s value has increased seven-fold since and now exceeds $5 billion even as its third-quarter revenue fell 18% from a year earlier. FuelCell didn’t respond to a request for comment.BlinkBlink, which sells and operates electric car charging stations, has never booked an annual profit and posted revenue of $905,000 for the three months ended in September 2020. The company’s shares began jumping in mid-November and have climbed nearly four-fold since, pushing its market value to $1.9 billion. Several short sellers have raised questions about the size of Blink’s charging network. Earlier this month, its chairman and chief executive officer, Michael D. Farkas, sold $22.1 million in shares, according to a filing with the U.S. Securities & Exchange Commission.“There have been and always will be naysayers,” Farkas said in a statement. “The stock has performed well as investors have gained increased confidence about the universal shift to electric vehicles that is beginning to occur.” The company previously called the short-seller reports “false and defamatory.”PlugPlug Power, Inc., founded in 1997, has spent decades struggling to turn a profit as it tries to carve out niche for hydrogen fuel cells that can produce electricity without greenhouse gas emissions. Now, as interest in hydrogen booms and Plug has announced a series of deals, its market cap has jumped from less than $1 billion in 2019 to more than $30 billion today. The stock began climbing in June, when Plug jumped into the business of producing and distributing hydrogen -- in addition to building fuel cells -- through two acquisitions. The shares took off in earnest earlier this month, after Plug announced a $1.5 billion investment from South Korea’s SK Group to promote the technology across Asia.“The increase in stock value is a strong indication of the global transition to a clean economy and hydrogen,” said Plug Chief Executive Andy Marsh.QuantumScapeElectric-car battery developer QuantumScape Corp. saw its stock more than triple after it merged in late November with a blank-check company. That pushed its market valuation to a high of nearly $50 billion last month, even though the company isn’t expected to begin production of its solid-state lithium-metal batteries until the second half of 2024. Since then, the shares have dipped, falling more than 60% from the record high. The company is backed by Volkswagen AG, as well as Bill Gates and Khosla Ventures. QuantumScape didn’t respond to a request for comment.EosEos Energy Enterprises Inc., founded in 2008, makes grid-scale batteries based on zinc, challenging the lithium-ion chemistry that now dominates the battery market. It went public via a special purpose acquisition company in November, and its valuation has skyrocketed from about $240 million to a high of $1.5 billion, though it has yet to turn a profit. The shares tumbled last week after a report from short-seller Iceberg Research questioned some of Eos’s customers and their ability to pay.The company declined to comment on the report. “Eos continues to execute on its long-term strategy to build a world class energy storage company,” it said in a statement.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.
With earnings turning around and the stock making a notable move, is Ford primed for a comeback? Here’s what you should know.