'Fox News Sunday' reacts to the death of Ruth Bader Ginsburg; Bill Gates weighs in on how the U.S. has handled the coronavirus pandemic.
'Fox News Sunday' reacts to the death of Ruth Bader Ginsburg; Bill Gates weighs in on how the U.S. has handled the coronavirus pandemic.
How much money people have put away for retirement varies, naturally, by their age group. See how your savings stack up.
Markets are down, but not collapsing. Investors remain worried about the coronavirus, and Tuesday’s election remains up in the air. Uncertainty rules the day, exacerbated by recent market losses. Wall Street, however, expects that the bulls will start running again after next week’s results – who wins will be less important than having a result.In the meantime, market declines and low share prices make for a prime time to buy in – if you judge the bottom correctly. Do that, and the rest is just ‘buy low and sell high.’ And to that end, Wall Street’s analysts have been pointing out stocks that may have hit bottom.Using TipRanks database, we pinpointed three such stocks. Each is down significantly, but each also has a Strong Buy consensus rating and at least 30% upside potential for the coming months.Fury Gold Mines (FURY)Gold – just the precious metal asset – has grown popular during the course of 2020. The coronavirus crisis and investors’ desire for a stable store of value pushed it above $2,000 earlier this year, and one ounce of gold is still selling for over $1,800. For those who haven’t got that kind of resource, however, buying stock in gold miners may be the next best thing.Fury Gold Mines is a small-cap mining company headquartered in Toronto and focused on exploiting the vast resources of the Canadian North. With mines in British Columbia, northern Quebec, and the far-north territory of Nunavut, Fury has large gold reserves in both open pit and underground mines. World gold production dropped by 1% in the last 12 months, giving the first hint that we may be at ‘peak gold,’ and prices will soon increase further.That development would bode well for Fury, which operates at a net loss. The company formed earlier this year, as a restructure of Auryn Resources that involved a merger with Eastmain and the divestment of Peruvian mines. The result is a company that is focused on Canadian development, able to take advantage of Canada’s stable work environment.The stock saw sharp declines recently, when the new FURY ticker started trading, taking Auryn’s place in the market and keeping the older company’s trading history. The drop saw Fury shares shed 67% this month.Covering the stock for Cantor, analyst Matthew O’Keefe sees plenty of upside ahead. The analyst noted, "Based on a combined gold equivalent resource of 3.9Moz, Fury is trading $43/oz versus peers at $60/oz. We expect that, as the new management makes its mark with new drill results (towards the end of 2020 and throughout 2021) and demonstrates advancement of its projects, the stock should move up."But how much up? O’Keefe’s $2.60 price target on FURY suggests a 126% upside potential for the coming year and supports his Buy rating. (To watch O’Keefe’s track record, click here)The Wall Street analyst consensus on Fury is a Strong Buy, based on 4 Buy ratings with no Sells or Holds. The stock is selling for $1.13 and its $3.37 average price target suggests it has room to nearly double in the next 12 months. (See FURY stock analysis on TipRanks)Star Bulk Carries (SBLK)Next up, Star Bulk Carries, is a Greece-based shipping company specializing in the dry bulk ocean carry trade, the backbone of the world’s shipping industry. Star Bulk operates a fleet of 116 carriers, ranging in size from ~50,000 tons to giant Newcastlemax bulk haulers rated over 200,000 tons. The trade disruptions caused by corona were hard on the industry, and SBLK was no exception. The stock is down 47% year-to-date. However, the company’s financial performance this year has been in line with its historical pattern – the first half of a calendar year sees a net loss, while the second half sees net gains. The losses in 1H20 where normal for SBLK’s pattern – and the outlook for Q3 is a return to net profits, with EPS projected at 30 cents.Covering this stock for Deutsche Bank, analyst Amit Mehrotra notes a series of related points: “[We] think the company’s net debt position should improve by about $50M vs. 2Q levels, reflecting cash flow generation in excess of >$40M of debt paydown in 3Q. We also expect the company’s prospective breakeven to reduce to under $11k per day… While we remain frustrated by the lackluster performance of SBLK shares in the context of above-mentioned improving fundamentals...we remain very comfortable that the intrinsic value of SBLK’s equity value is improving in the current environment…” Mehrotra sums up his view of Star Bulk succinctly: “On the whole, we’re encouraged by the fundamental trajectory of the company…” The analyst rates SBLK a Buy, while his $15 price target implies an upside potential of 143% from current levels. (To watch Mehrotra’s track record, click here)With 3 recent Buy reviews, SBLK holds a unanimous Strong Buy rating from the analyst consensus. The stock is currently trading at $6.18 and has an average price target of $12.09, making the one-year upside 96%. (See SBLK stock analysis on TipRanks)Heritage-Crystal Clean (HCCI)Pollution is a problem, no matter what. We all want a clean environment to live in, and we should all care about how modern industrial pollutants are disposed of. Heritage-Crystal Clean inhabits that clean-up niche, providing environmental cleaning services, including vacuum services for street cleaning, light industrial and mechanical parts cleaning technology, and a variety of waste recovery services including recovery and disposal of oil and oil products, antifreezes, and general industrial liquid waste. It’s an important, often overlooked, and vital niche in a modern technological society.After a dip into negative territory in Q2, HCCI reported stronger results for Q3. Revenues gained sequentially from $74 million to $82 million, and EPS swung from a 31-cent loss to an 18-cent gain. Despite the positive results, both earnings and revenues remain depressed compared to the year-ago quarter, and the stock has failed to regain traction after last March’s decline. HCCI is down 49% year-to-date.Roth Capital’s Gerry Sweeney, in his comments on this stock, notes that “Revenue continues to rebound as economic activity improves from COVID shelter in place orders... The highlight in the quarter was a faster than anticipated rebound in margins. While margins are still down from last year’s pre-pandemic level of 25.7%, they are up from 2Q margins of (28.2%). The improvement was driven by higher labor utilization and leverage of assets, lower solvent costs, and the internalization of waste disposal…”Sweeney rates the stock a Buy. His $21 price target indicates confidence in a solid 32% upside for the next year. (To watch Sweeney’s track record, click here.)Over the past three months, three other analysts have thrown the hat in with a view on HCCI. The three additional Buy ratings provide the stock with a Strong Buy consensus rating. With an average price target of $20.75, investors stand to take home a 30% gain, should the target be met over the next 12 months. (See HCCI stock analysis at TipRanks)To find good ideas for beaten-down 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.
Fisker stock rose in its debut Friday on the New York Stock Exchange as blank-check mergers continue to churn out electric car stocks.
Shares of United Parcel Service, Inc. (NYSE: UPS) were unaffected after the company said it was the unnamed company Fox News host Tucker Carlson called out for losing what he said is a politically sensitive package.What Happened: Carlson said during his daily "Tucker Carlson Tonight" show Wednesday that his New York office was in possession of "a collection of confidential documents related to the Biden family."Carlson was in Los Angeles at the time filming an interview with Tony Bobulinski, a former business partner of Hunter Biden, son of Democratic presidential nominee Joe Biden.Carlson asked his office to send over the documents that he described as "authentic" and potentially "damaging" to the Biden campaign. The documents were dropped off at a retail location of a "large national carrier," he said. Carlson didn't elaborate on what the documents are. Related Link: How The 2020 Presidential Election Could Impact Health Care StocksUPS Issues Statement: Carlson didn't name the company during his show. But UPS Corporate Media Relations Director Glenn Zaccara told Business Insider that UPS was the unnamed company."UPS is conducting an urgent investigation into this matter and regrets that the package was damaged," the company told Business Insider."The integrity of our network and the security of our customers' goods are of utmost importance. We will remain in frequent, direct contact with Fox News as we learn more through our investigation."To UPS' credit, Carlson said the company "went far and beyond" but "found nothing.""As of tonight, the company has no idea -- and no working theory, even -- about what happened to this trove of materials, documents that are directly relevant to the presidential campaign just six days from now," the Fox News host said.Photo by Jim.henderson via Wikimedia. See more from Benzinga * Click here for options trades from Benzinga * Molson Coors Stock Chugs Along After Big Q3 Beat * Grocery Prices A Concern As Coronavirus Cases Surge(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Before you open a retirement account, you should know the disadvantages of Roth IRAs. Income limits are one drawback. Learn about the disadvantages of Roth IRAs.
Jim Cramer shared his thoughts on the upcoming election and a potential blue wave.Cramer On The Election: "Let's see if people can fight the blue wave," Cramer said Thursday morning on CNBC. He's concerned about a potential blue wave and that "you have to be."He went on to describe a blue wave as: short and cover when the election night really ends because there's a lot of stocks in a blue wave that would be crimped by a "hijack of the far left."Cramer On A Game Plan: He went on to give a game plan for investors to make "real money.""Short the managed care stocks into a blue wave. The managed care stocks then drop 10%, then you buy the managed care stocks, leading with Centene (NYSE: CNC) and maybe United Health (NYSE: UNH). Pfizer (NYSE: PFE) goes down to $32 ahead of the election, drops to $31.50, people think they made a lot of money, you buy Pfizer," said Cramer."This is what you do, I just gave it to you."Potential Winners Under Biden: Cramer last week discussed his "basket of winners" if presidential candidate Joe Biden were to win the election.He believes investors will go towards the solar industry. Two solar stocks he likes: First Solar (NASDAQ: FSLR) and Tesla (NASDAQ: TSLA).Cramer also thinks infrastructure will be a winner under Biden. Cramer likes these two infrastructure stocks: Caterpillar (NYSE: CAT) and Deere & Company (NYSE: DE).See more from Benzinga * Click here for options trades from Benzinga * 'Halftime Report's' Top Stocks To Watch: AGCO, Keysight And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
If Joe Biden wins the November presidential election, the estates of wealthy Americans could be hit with a tax rate as high as 67%, according to a new analysis published by the Tax Foundation.
The e-commerce giant reported sales of $96.1 billion in the third quarter, up 37%, and well ahead of the company’s guidance range of $87 billion to $93 billion.
The ITEP data broke down the impact by state. Population has a major impact on the overall total in tax increases.
The Dow Jones Industrial Average tumbled 400 points, as Apple dived 5% on weak China sales. Twitter plunged 20% on disappointing user growth.
On CNBC's "Mad Money Lightning Round," Jim Cramer said Workhorse Group Inc (NASDAQ: WKHS) is a show horse as far as he is concerned. He is not a buyer and he likes Plug Power Inc (NASDAQ: PLUG) in the space.Voya Financial Inc (NYSE: VOYA) is the best house in a real bad neighborhood, said Cramer. He is not recommending anything in the financial or the oil sector.Cramer thinks New York Community Bancorp's (NYSE: NYCB) dividend is too risky. He doesn't like the shape of the U.S. economy right now, if COVID-19 keeps growing.MPLX LP (NYSE: MPLX) has a dividend yield of 16% and typically that kind of yield is not sustainable, believes Cramer.Callaway Golf Co (NYSE: ELY) is trading lower because people think that it paid to much for Topgolf, explained Cramer. If the stock trades lower on Friday, he would be a buyer.Cramer was hoping we would have COVID-19 under control, but the longer it lasts Simon Property Group Inc (NYSE: SPG) and its property are less valuable.See more from Benzinga * Click here for options trades from Benzinga * Stephen Weiss Weighs In On Ford * Jeff Kilburg's Crude Oil Futures Trade(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
According to Joe Biden’s tax plan, three states and New York City would see top marginal state and local tax rates of over 60 percent.
Exxon guided investment sharply lower and warned of a massive possible writedown amid questions about its dividend. Chevron reported a surprise profit.
Electric vehicle maker Fisker Inc announced Thursday it has completed a reverse merger with the blank check company Spartan Energy Acquisition Corp (NYSE: SPAQ).What Happened: Both companies will merge in a business combination to create a new entity whose Class A common stock will list on the New York Stock Exchange under the symbol "FSR." Through the reverse merger, Fisker has gained access to $1 billion in cash inflows.Spartan is funded by an affiliate of private equity giant Apollo Global Management Inc. (NYSE: APO).With the funding and strategic tie-ups in place, CEO and Chairman Henrik Fisker remarked, " We can now fully turn our attention to developing and launching the revolutionary, all-electric Fisker Ocean into the heart of the midsize SUV market."Earlier this month, Fisker and Magna International (NYSE: MGA) partnered to manufacture the all-electric SUV model Ocean, and production is expected to commence towards the end of 2022.Why Does It Matter: Special Purpose Acquisition Companies or SPACs are gaining more traction in the EV segment.Lordstown Motors Corp merged with DiamondPeak Holdings Corp (NASDAQ: DPHC) in August. Stocks of the merged entity are listed on Nasdaq under the symbol RIDE, which gained 5% during Thursday's trading hours.In early June, Nikola Corp (NASDAQ: NKLA) announced a merger with SPAC VectoIQ.Price Action: After a 2.61% fall during Thursday's trading session, SPAQ gained 1.79% in the after-hours to close at $9.12.See Also: Jim Cramer Compares Fisker And Its CEO To Nikola, Trevor MiltonSee more from Benzinga * Click here for options trades from Benzinga * Wyoming Approves Avanti Financial As A Digital Asset Custodian * UK Government Expects Verdict On Pfizer's Vaccine Before Christmas: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The shares have a dividend yield of only 1.04%. For more attractive yields among companies with plenty of free cash flow (based on his team’s estimates) to cover current dividends and hopefully to raise them, McMahon named General Mills Inc. (GIS) with a dividend yield of 3.30%, and Diageo PLC (DEO) whose American depositary receipts have a yield of 3.21%. For some industries, different metrics are used to gauge dividend coverage, so there are three groups of stock screens below.
The largest initial public offering (IPO) in global financial history broke records in Shanghai and Hong Kong, soaking up more than US$3 trillion from retail investors, setting off frenzied bids for the shares of Ant Group.A record 19.05 trillion yuan (US$2.85 trillion) of bids were received from retail investors for Ant's shares on Shanghai's Star Market, exceeding the supply of shares by 870 times. In Hong Kong, 1.55 million retail investors, or about one-fifth of the city's population, poured in HK$1.3 trillion (US$167.7 billion) for the shares when the book closed at noon on Friday, overbidding by 394 times, according to people familiar with the matter.Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.The IPO has already mopped up more money than the stock sale by Chinese bottled water producer Nongfu Spring's HK$677.7 billion. The number of mom-and-pop investors in Ant Group will also exceed the record when 970,000 people submitted bids for the shares of the Industrial and Commercial Bank of China (ICBC) in 2006, according to stock exchange data."The offering is so hot that more than 1 million retail investors have sent their subscriptions," said Louis Tse Ming-kwong, managing director of Hong Kong-based brokerage Wealthy Securities. "It is a historic moment for Hong Kong's securities market."Retail investors submitted a record 19.05 trillion yuan (US$2.85 trillion) in subscription money for Ant's share offering on the Star Market, a board of technology stocks in Shanghai. It amounted to 872 times oversubscription, the firm said in a Shanghai exchange filing late on Thursday.Ant Group offered 1.67 billion shares each in Hong Kong and Shanghai to raise about US$34.5 billion, making it the world's biggest IPO. Including a 15 per cent overallotment in each leg, the total size of the IPO will increase to US$39.67 billion.Strong demand from individual investors in Hong Kong will trigger a mechanism where the retail allocation is raised to a maximum of 10 per cent, from the initial 2.5 per cent.Investors are buying the shares as the valuation is deemed cheaper than overseas payment companies, said Hong Kong Securities Association chairman Gordon Tsui. Ant is the operator of Alipay and an affiliate of Alibaba Group Holding which owns this newspaper."Investors believe in the future economic and technological growth of mainland China," Tse of Wealthy Securities said. "There is an increasing number of people using digital payment. Ant may have more upside room to go if it expands Alipay to overseas markets."Ant Group began taking orders from retail investors in Hong Kong from Tuesday. HSBC, Bank of China (Hong Kong), other retail banks and the city's 600-odd brokerages have made available as much as HK$500 billion of margin financing loans to help investors fund their subscription, more than double the capacity for Nongfu Spring's IPO."We have seen record levels of IPO applications and IPO loan uptake for Ant Group," HSBC said in a statement. The lender set aside HK$150 billion of loans for its customers to subscribe to the shares at an interest rate of 0.48 per cent to 0.88 per cent. How retail investors can increase their chances of getting a piece of Ant Group's blockbuster IPO in Hong KongThe frozen IPO liquidity, however, has not driven up local interest rates substantially, with the one-month interbank offered rate or Hibor rising to 0.48 per cent on Thursday from 0.13 per cent a week earlier. The current level is still lower than 2 per cent in March.Part of the reason is the presence of hot money in the system. More than HK$383.51 billion has entered the local financial system since April, according to HKMA statistics, forcing it to intervene more than 85 times to keep the Hong Kong dollar from breaking the stronger end of its trading band.The inflows pushed the aggregate balance, or the amount of cash sloshing in the banking system, to a record HK$457.46 billion on Friday, or more than eight times the level before the HKMA's currency-market intervention.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
Apple, the greatest consumer electronics company of all-time, released the firm's fiscal fourth quarter results on Thursday night. Maestri expects the iPhone to show growth for the quarter for fiscal Q1 despite the late introduction of these products.
Square Inc. shares are off 9% in Friday trading after a Wall Street Journal report said that the company was in talks with Credit Karma Inc. about acquiring the company's tax-preparation business. For Credit Karma, the move would be an attempt to stave off antitrust concerns as the company is in the process of merging with Intuit Inc. , which offers TurboTax, the WSJ report said. An acquisition of the tax-prep business could allow Square to further build out its Cash App platform, which lets consumers send money to friends and conduct equity trading, among other things. The WSJ report, which cited multiple unnamed sources, said that the purchase price for the potential deal was unknown. A Square spokeswoman said that the company doesn't comment "on rumors or speculation." Square shares have gained 147% so far this year as the S&P 500 has risen just 0.4%.
Shares of AbbVie Inc. gained 0.2% in premarket trading Friday, after the biopharmaceutical and health care company reported third-quarter earnings that beat expectations, raised its full-year outlook and boosted its dividend by 10%. Net income rose to $2.31 billion, or $1.29 a share, from $1.88 billion, or $1.26 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to $2.83 from $2.33, beating the FactSet consensus of $2.76. Revenue grew 52.2% to $12.90 billion, above the FactSet consensus of $12.72 billion. "Results from key growth products -- including Skyrizi, Rinvoq and Ubrelvy -- continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we're advancing numerous attractive late-stage pipeline programs," said Chief Executive Richard Gonzalez. The company cautioned that the impacts of the COVID-19 pandemic remain uncertain, but it raised its full-year adjusted EPS outlook to $10.47 to $10.49 from $10.35 to $10.45. AbbVie also raised its quarterly dividend to $1.30 a share from $1.18, with the new dividend payable Feb. 16 to shareholders of record on Jan. 15. The stock has lost 8.9% year to date through Thursday, while the SPDR Health Care Select Sector ETF has slipped 0.2% and the S&P 500 has gained 2.5%.
Shares of BioLine RX Ltd. soared 47% on heavy volume of 14.1 million shares in premarket trading Friday, after the Israel-based biopharmaceutical company announced positive interim results from a Phase 3 trial of motixafortide for stem cell mobilization (SCM) in multiple myeloma patients. The stock was the biggest gainer and most actively traded in the premarket, with volume already way above the full-day average of about 114,000 shares. The company said an independent data monitoring committee (DMC) analyzing the study's primary endpoint recommended that patient enrollment may be ceased immediately given the "statistically significant evidence" favoring treatment with motixafortide. "The compelling results of this planned interim analysis are a very significant milestone for our Company, as our SCM program is the Company's most efficient path to registration for motixafortide," said Chief Executive Philip Serlin. The stock, on track to open at a two-month high, has declined 34.2% year to date through Thursday, while the iShares Nasdaq Biotechnology ETF has rallied 10.4% and the S&P 500 has gained 2.5%.