Former Chicago Police Department Superintendent Garry McCarthy discusses calls to defund the police, presidential candidate Joe Biden and police forces across the U.S.
Former Chicago Police Department Superintendent Garry McCarthy discusses calls to defund the police, presidential candidate Joe Biden and police forces across the U.S.
Remember, Joe Biden happens to be the greatest defense of the status quo, because his administration created Obamacare. Second, I didn't hear anything that made me feel that the banks, long-time punching bags of the Democratic party, didn't even merit a whisper. No wonder that group just ignited with Discover , the credit card company, and the one-time pinata, Goldman Sachs , leading the way.
Experts say this advice from the personal finance personality ought to be ignored.
‘You’ll see it as soon as it’s finished,’ President Trump said of his tax returns during the first presidential debate.
The stock market is on pace for its worst month since March, though the quarter has been great. What that says about a possible October surprise.
Despite being one of the most recognizable wireless carriers in the U.S., AT&T stock has had a rough 2020. But the stock does have some perks. Is it a buy?
What to make of the markets lately? Early September showed a sharp drop from peak values, but since the eighth of the month – for the past three weeks – volatility has ruled the day. All the major indexes have bouncing up and down without showing a clear trend. While increased volatility is almost certainly going to stay with us for a while, it’s time to consider defensive stocks. And that will bring us to dividends. By providing a steady income stream, no matter what the market conditions, a reliable dividend stock provides a pad for your investment portfolio when the share stop appreciating.With this in mind, we’ve used the TipRanks database to pull up three dividend stocks yielding 8% or more. That’s not all they offer, however. Each of these stocks has a Strong Buy rating, and considerable upside potential.Solar Senior Capital (SUNS)The first stock is Solar Senior Capital, an investment management company focused on an externally managed non-diversified portfolio. SUNS invests in mid-market companies, taking positions in unitranche instruments, secured loans, and first and second lien debt. The company’s investment targets are mid-market firms with below-investment grade credit ratings, and its portfolio is valued at $532.4 million.Solar’s earnings, up to 1Q20, had held steady at 35 cents per share – but that took a sudden dive in the second quarter this year, coming in at 32 cents. That drop came even as the company also reported a solid financial base, with net assets of $249 million and available capital exceeding $210 million.Despite the lower earnings, the quarterly results were sufficient to maintain the dividend. This is paid monthly, at a rate of 10 cents per common share, making the quarterly distribution 30 cents. This leads to a high payout ratio, but at current earning levels the dividend is sustainable. The annualized payment, of $1.20, gives a yield of 9.4%, which is more than 4.5x higher than the average dividend yield found among S&P index members. The company has paid out the dividend reliably, no matter the market conditions, since 2011.Covering this stock for Ladenburg, analyst Mickey Schleien rates SUNS a Buy, along with a $15 price target. This target implies an 18% upside for the coming year. (To watch Schleien’s track record, click here)Supporting his stance, Schleien writes, “…the company's pipeline is increasing with more compelling opportunities at higher yields. SUNS is operating within the incentive management fee catch-up band, and the external manager continues to waive fees to the extent necessary for NII to cover the dividend through 2020.” The Strong Buy analyst consensus rating on SUNS is unanimous, based on 3 Buy reviews. The stock’s $12.68 trading price and $15.67 average price target give a one-year upside potential of 24%. (See SUNS stock analysis on TipRanks)Barings BDC, Inc. (BBDC)Barings, the next stock on our list, is a busines development corporation. The company provides capital access and asset management for its customers, middle-market companies seeking financing solutions. Barings invests in debt, equity, and fixed income assets, and boasts over $346 billion in total assets under management.While Barings took a hard hit to revenue in the first quarter, as the corona crisis took hold, the company has seen the top line return to positive numbers in the second quarter. At $56 million, the Q2 revenue was also more than 4x higher than results in the second half of 2019. Earnings have been stable, with EPS reported between 14 and 16 cents for the past 7 quarters.In another sign of strength, Barings in August completed an agreement to acquire MVC Capital. The deal, which totals $177.5 million in cash and stock, is expected to close in 4Q20 and will create a combined company with an investment portfolio worth more than $1.2 billion.While that move is going forward, BBDC continues to reward shareholders. The company has been gradually growing its quarterly dividend payment for the past two years. The current payout is 16 cents per common share, giving an annualized payment of 64 cents and a robust yield of 8%.Raymond James analyst Robert Dodd notes the importance of the MVC transaction for BBDC: “…we expect that BBDC will recognize a top-line income contributor 'accretion of purchase discount' over the life of the MVC portfolio.” Dodd goes on to note that this will have a positive impact on the dividend, writing, “We are projecting a dividend increase following the close of the MVC acquisition. We believe the dividend could be increased from the current $0.16/share per quarter to $0.17/share in 1Q21. While we believe earnings power will exceed that level, over-coverage is a good thing in our view — and we believe projecting a 90% payout ratio is prudent.”Dodd’s comments back up his Buy rating on the stock. He gives Barings a $9.50 price target, which indicates room for 19% growth over the next 12 months. (To watch Dodd’s track record, click here)Overall, Barings’ Strong Buy consensus rating is held up by 3 recent Buys against a single Hold. The company has an average price target of $9, suggesting a 12.5% upside from the $8.01 trading price. (See BBDC stock analysis on TipRanks)TriplePoint Venture Growth (TPVG)The last stock on our list is another management investment company. TriplePoint Venture is a venture capital investment firm with a portfolio focused on the tech and life sciences. These are high-growth industries that gobble up cash – but also offer the promise of high returns.TriplePoint’s earnings have been falling off this year from their peak, at 45 cents per share in Q4 of last year, even as revenue as recovered from corona-induced losses in the first quarter. For the second quarter, the top line came in at $23 million, while EPS slipped 7% to 38 cents. Even though earnings are down, they still beat the forecast by 5.5%.However, the company’s dividend payment has been remarkably stable for the past few years. Except for one downward blip in December 2018, the dividend has been consistently paid out at 36 cents per common share per quarter. This gives an annualized payment of $1.44, and a powerful yield of 12.8%. The high yield, combined with the reliable payment history, make this dividend valuable, especially in a time of near-zero interest rate policy.Christopher York, 4-star analyst with JMP Securities, believes that the recent second quarter results justify an Outperform (i.e. Buy) rating on TPVG, and his $13 price target implies an upside of 16%. (To watch York’s track record, click here)Backing his outlook, York writes, “TPVG remains our favorite BDC idea for those that trade below $500mln in market cap; we find the stock especially attractive for both yield-seeking and value investors [...] We continue to believe TriplePoint's core dividend run-rate of $0.36 is sustainable throughout 2021 and note that the total return requirement in the incentive fee should provide additional support to dividend coverage from any future credit losses.”Overall, Wall Street’s analysts have been nothing but bullish on TPVG over the past three months. Out of 5 analysts who cover the stock, all 5 are bullish. Meanwhile, their average price target of $13.30 suggests a 19% upside from current levels. (See TriplePoint’s stock analysis at 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.
USA TODAY reached out to tax attorneys and legal experts to get their reaction to the New York Times report on Trump's taxes. Here's what they said.
Gone are the days of relying on strong returns for money market accounts and certificates of deposit.
Ford Motor Co's <F.N> new chief executive, Jim Farley, on Thursday promised the U.S. automaker would move with urgency, responding to investor and analyst criticism of the speed at which his predecessor acted. Farley, on his first day as Ford's 11th CEO, also announced an executive shake-up that included naming a new chief financial officer. Ford's promise to accelerate its turnaround is not new at a time when it is executing an $11 billion restructuring.
October is unfairly known for jinxes and crashes for the S&P 500. But shares of Microsoft and Apple show much of the fear is overblown.
Tesla could unveil record third quarter deliveries this week, thanks in part to robust demand from China, but will still need notable gains over the final three months of the year to meet its 2020 goal of 500,000.
Microsoft, FedEx, Amgen, and AbbVie—among others—came up in our screen for stocks that are inexpensive relative to their industry and are expected to see earnings growth.
Palantir (PLTR) opened at $10 a share when it started trading on the New York Stock Exchange this Wednesday. The stock went as high as $11.42 during the first 10 minutes of trading.
Negotiations for coronavirus relief aid between the White House and House Democrats had stalled in large part over the price tag, with Democrats seeking $2.2 trillion and the White House staying firm at $1.5 trillion. Shares of American Airlines, United, Delta Air Lines <DAL.N>, and Southwest Airlines <LUV.N> were up between 1.3% and 2.8% in pre-market trading. U.S. airlines have been pleading for another $25 billion in support to protect jobs for a further six months after the previous package, which banned furloughs, expired at midnight Sept. 30.
In the first week of September, the markets saw a sudden drop from peak values. That fall was most pronounced in the NASDAQ index, which dropped from 1,200 points – some 10% – in just 5 trading sessions. Since then, however, the situation has stabilized. Stocks have bounced up and down, but the NASDAQ has generally held steady at or near 11,000 for the past three weeks.The holding pattern is likely more important than the slide. It’s lasted longer, and appears to represent a classic market correction. The NASDAQ’s 5-month run to its September 2 all-time high left it somewhat overvalued, and it’s now fallen back to a more sustainable level. This is borne out by a look at three major components of the index, members of tech’s ‘FAANG’ club.The FAANG stocks are Facebook, Amazon, Apple, Netflix, and Google (Alphabet). They are the 800-pound gorillas of the tech world, companies of enormous size and scope, whose operations and market fluctuations have been a major driver to the NASDAQ, and the overall stock market, in recent years. And three of them have another important point in common, too: each gets a ‘Perfect 10’ rating from the TipRanks Smart Score.The Smart Score rates every stock according to set of 8 factors that have historically correlated with future outperformance, and combines them into a simple 1 to 10 scale to indicate the stock’s likely future course. Now let's see why these tech giants scored so highly, and what Wall Street’s analysts have to say about it.Facebook (FB)First on our list is Facebook. The social media giant has spawned both an industry and much controversy in the years since it burst on the scene. In recent years, Facebook has come under fire for advertising policies, privacy breaches, and accusations of censorship – but none of that has halted the long-term growth of the stock.The company makes its money selling advertising, using AI tracking algorithms to monitor account activity and create perfectly target ads. It’s a system that has introduced us, in less than one generation, to impressions, banner ads, and pay-per-click. It has changed the way we do business online.With the election coming up, Facebook is not shying away from controversial actions. The company has announced that it will ban political ads in the week before election day, as well as censor groups deemed to promote violence or spread false information about the corona pandemic. Intended to be politically neutral, these moves have drawn criticism from side of the political arena.That has not stopped Facebook from raking in the money, however. Earnings did fall 33% sequentially in the first quarter of this year – but that should be put in perspective. FB’s pattern is to register its best results in Q4 (holiday advertising), and its lowest results in Q1. With that in mind, it’s more important that, during the ‘corona quarter,’ Facebook’s Q1 EPS were up 101% year-over-year. Results in Q2 were almost as impressive, with the $1.80 EPS being up 97% year-to-date. Looking at Facebook’s near-term prospects, 5-star analyst Mark Zgutowicz of Rosenblatt Securities see plenty of reason for optimism. Zgutowicz admits that consumers may develop a ‘spending fatigue’ in the wake of anti-COVID stimulus bills, but “given Facebook’s immense exposure to ecommerce with now 9M active small business advertisers, and the holiday season soon approaching," the analyst believes "any stimulus spend fatigue will be offset [by] escalating ecommerce trajectory.”In line with these comments, Zgutowicz rates FB a Buy and sets a price target of $325. This target implies room for 24% share appreciation in the next year. (To watch Zgutowicz’s track record, click here)Overall, Facebook’s Strong Buy consensus rating is based on 38 recent reviews, with a breakdown of 33 Buy, 4 Hold, 1 lonely Sell. The shares are priced at $261.90 and have an average price target of $295.82, suggesting a 13% upside from current levels. (See FB stock analysis on TipRanks)Amazon.com (AMZN)Next up, Amazon, is the market’s second largest publicly traded company, with a market cap of $1.59 trillion and a famously high share price exceeding $3,000. Amazon has proven a master of self-reinvention since the late ‘90s, starting out as an online book seller and surviving the doc.com bubble to become, now, the world’s largest online retailer, where customers can buy everything from buttons to brie, and even books.Looking at Amazon’s performance, the most immediate salient factor is the steady rise in share value over the years. Under Jeff Bezos’ leadership, Amazon does not pay out a dividend or conduct share buybacks; investors benefit solely from share appreciation. And that appreciation has been substantial, especially for long-term investors. Just in the last five years, the stock has grown over 480%.The company has achieved this growth by taking advantage of every opportunity that comes its way – when it is not inventing those opportunities. The corona crisis was no exception to this pattern; as the social lockdown policies kept people home and closed down stores and shops, Amazon’s service became essential. Customers could order anything, and have it delivered. The company’s 2Q20 revenues reflect this success; coming in at $88.9 billion, they were up 40% year-over-year. Earnings also showed how Amazon thrived under the new conditions. Q1 results had been in-line with the previous six quarters – but in Q2, EPS jumped to $10.30, far ahead of the $1.74 estimate.In his coverage of Amazon stock, JMP’s 5-star analyst Ronald Josey notes the perfect fit of the company and the times.“The COVID-19 pandemic has clearly pulled forward eCommerce adoption by at least three years, in our view, and Amazon’s investment in its product selection and delivery network—which continues to improve—was on display this quarter. Beginning in mid-April, demand expanded beyond essentials to a more normalized mix of hardlines and softlines, and newer services like grocery delivery tripled. Overall, we believe 2Q’s execution and ability to launch newer products and services highlights Amazon’s strength as an organization,” Josey opined.Josey rates Amazon as Outperform (i.e. Buy), and his price target, at an eye-opening $4,075, suggests 29% growth for the next 12 months. (To watch Josey’s track record, click here)Overall, the Strong Buy consensus rating on Amazon is, unsurprisingly, unanimous, based on no fewer than 37 positive reviews. The share price comes in at $3,149, and the average price target of $3,732 implies an 18.5% one-year upside potential. (See AMZN stock analysis on TipRanks)Apple, Inc. (AAPL)And now we come to Apple, the single largest component of the NASDAQ, making up over 13% of the index by weight. It is also the largest publicly traded company in the world. Two years ago, in summer 2018, Apple was the first company to ever exceed $1 trillion in market cap, and earlier this year, Apple broke above $2 trillion. The company is currently valued at $1.98 trillion.A big advantage for Apple, as the corona crisis took hold, was that the company had entered 2020 on the heels of record-breaking fourth quarter results. Apple’s Q4s are typically the company’s best, boosted, by holiday sales, and 4Q19 gave Apple a financial kick right before the sales depression of 1Q20 hit. By 2Q20, Apple’s EPS was down to just 64 cents, well below the $2.03 forecast. Revenues, however, remained at $60 billion, roughly in-line with Apple’s historic mid-year quarterly performance.Looking ahead, Apple has at least two more major advantages going forward. First, the company will be releasing its 5G-compatible iPhone 12 line this fall. And second, at least one-third of Apple’s installed iPhone user base will be entering the natural device replacement cycle over the next year. JPMorgan analyst Samik Chatterjee reviewed Apple, and sums all of the above in clear prose: “…investors have widely acknowledged the rich valuation of AAPL shares. While the $2 trn market cap valuation in itself is a significant milestone, that AAPL shares crossed it in a year with significant COVID-19 disruption testifies to the recurring nature of not only its Services, but also its Products, such that investors are now willing to pay a Services-like premium on the entire earnings stream and a modest premium on account of expectations for further revenue/earnings upside. While we acknowledge that the valuation is no longer an easy entry point into the shares, at the same time, potential upside revenue/earnings drivers as well as upcoming catalysts will make it difficult for investors to step away from the shares."To this end, Chatterjee puts a $150 price tag on AAPL shares, implying an upside of 29% and backing his Overweight (i.e. Buy) rating. (To watch Chatterjee’s track record, click here)All in all, Apple holds a Moderate Buy rating from the analyst consensus, with 35 reviews breaking down to 24 Buys, 8 Holds, and 3 Sells. The shares are selling for $115.81 and have an average price target of $122.04. This suggests a modest 5.5% upside from current levels. (See Apple stock analysis at TipRanks)To find good ideas for tech 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.
Investors have a new way to play the booming market for special purpose acquisition companies, or SPACs: the Defiance NextGen SPAC Derived exchange traded fund. It makes its debut on the New York Stock Exchange today under the ticker SPAK. The ETF comes during a record year for SPACs: 116 initial public offerings have raised nearly $44 billion in proceeds—more than the past five years combined, according to data from SPAC Insider.
If you're single and die in 2020, you can have up to $11.58 million in assets before your heirs have to worry about paying a penny in estate taxes. Knowing that, you might assume only the super wealthy need to worry about estate planning. "Estate taxes are only part of it," says Jeff Bush, president of Informed Family Financial Services in Norristown, Pennsylvania.
As big U.S. commercial banks close their books on the third quarter, analysts expect them to report a 30% to 60% plunge in profits on the year-ago period due to the pandemic-induced recession and near record low interest rates. Citigroup Inc<C.N> and Wells Fargo & Co<WFC.N>, the third- and fourth-biggest U.S. banks by assets respectively, will report net income down by about 60%, according to I/B/E/S analyst survey data from Refinitiv. Investment banks Goldman Sachs Group Inc <GS.N> and Morgan Stanley <MS.N>, which are benefitting from being more concentrated in the busy capital markets, are expected to report more modest profit declines of about 5% to 10%.
Bed, Bath & Beyond's drive to cut costs, while boosting online sales under CEO Mark Tritton is paying off with stronger-than-expected second quarter earnings and a 380% surge in its share price over the past six months.
Palantir has attracted criticism for how it seeks to use its data-mining technology, but it's not a new issue, says Jon Lonsdale, the company's co-founder.