Kennedy's Party Panel plays America's favorite guessing game: 'Trump or False'
Kennedy's Party Panel plays America's favorite guessing game: 'Trump or False'
Goldman Sachs sounds the alarm on some very hot tech stocks.
Your retirement savings are $1 million. You want $100,000 of yearly retirement income, including Social Security. Is that doable without tons of risk?
Speaker Pelosi and other leaders want quick approval. How soon could you get more money?
KEY WORDS Jim Cramer appears to be flabbergasted by GameStop’s epic run. Trading by individual investors has led to massive rises in the Texas-based videogame retailer’s stock, which has quadrupled in 2021.
(Bloomberg) -- Serial blank-check dealmaker Chamath Palihapitiya has doubled down on SPACs and has now participated in at least half a dozen deals that his own blank-check vehicles aren’t even involved in.On Monday, Palihapitiya, the former Facebook Inc. executive and venture capitalist, invested in two companies going public via a special purpose acquisition company -- smart lockmaker Latch Inc. and solar lender Sunlight Financial LLC -- through the equity raised to support the deals. That’s on top of the six blank-check vehicles he’s helped raise.Latch and Sunlight were just two of the five companies that announced they were going public via a SPAC on Monday, in deals worth a combined $15.4 billion including debt. The flurry of mergers come after a record year for blank-check companies that shows no sign of stopping. with more than $15 billion raised in fresh capital already this month. SPACs raised more than $79 billion in the U.S. in 2020 -- more than the combined total in all previous years, according to data compiled by Bloomberg.While the amount Palihapitiya invested in two of the Monday deals couldn’t immediately be learned, he tweeted Jan. 21 that he was leading a private investment in public equity -- or PIPE -- for an undisclosed deal that turned out to be Latch. The SPAC, backed by New York-based real estate firm Tishman Speyer, raised an additional $190 million from investors including Palihapitiya, BlackRock Inc. and D1 Capital Partners.Sunlight agreed to go public through a merger with a vehicle backed by Apollo Global Management Inc. The SPAC raised $250 million from Palihapitiya, Coatue and BlackRock, among others. SPACs announce PIPE investments when they do a deal to help finance it and support its closing.Shares in most of the blank-check companies that announced a deal Monday climbed. TS Innovation Acquisitions Corp. jumped as much as 90% after the Latch transaction was revealed, and traded up 43% at 2:01 p.m. in New York. Spartan Acquisition Corp. II, which is merging with Sunlight, jumped as much as 45%, while ION Acquisition Corp. 1 Ltd. climbed 36% on its deal with advertising-tech firm Taboola Inc. Foley Trasimene Acquisition Corp. climbed as much as 13% after announcing a $7.3 billion deal with Alight Solutions.Landcadia Holdings III Inc., which announced a deal with Hillman Group Inc., slipped slightly in afternoon trading, though it still trades above the $10-per-share price at which SPACs go public. Investors had already had a chance to trade the Hillman and Alight deals after earlier reports on the transactions.Palihapitiya isn’t the only investor showing up on multiple deals but he is one of the few individuals showing up so often in the public announcements. These transactions often attract big names, usually institutional investors such as BlackRock and Fidelity Management & Research Co. It’s possible other private investors are investing in SPAC mergers without disclosing their involvement.Palihapitiya is dabbling in many sectors through these investments. Other SPAC deals he’s contributed to in the past few months include 3D printing company Desktop Metal Inc., rare earth company MP Materials Corp., electric bus manufacturer Proterra Inc. and car insurance company Metromile Inc., statements showed.(Updates with money raised by SPACs in 2020 in the third paragraph. An earlier version of this story corrected the definition of PIPE.)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.
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Millennials still love Tesla — it's their favorite S&P 500 stock — but they're actually making much more money on their five other top picks.
Listening to Buffett, you can pick up these tips for surviving the pandemic financially.
Student loan borrowers are riding the Reddit-fuelled GameStop (GME) wave, betting that they’ll be able to use the profits to pay off their debt.
Oddly it might be an anthem for the younger investors who have flooded the Wall Street Bets site with positive commentary about GameStop , the long-in-decline brick and mortar store that has been the target of perpetual shorts all the way down from $47 five years ago to $4 in 2020. Not that long ago, many on Wall Street considered GameStop a goner. Until an important confluence of events occurred, starting with a shortage of the new Playstation and Xbox devices, devices that GameStop features, and the addition of Ryan Cohen, the founder of the phenomenally success Chewy , to the board of GameStop just last week.
You can use your traditional IRA's required minimum distributions (RMDs) to contribute to a Roth IRA if you also have enough earned income.
GameStop (GME) shares went through a massive short squeeze, spiking more than 130% on Monday and prompting trading halts before dipping briefly into negative territory. Shares of the video game retailer closed up 18% at $76.79 each.
Value investor Bill Smead pulls no punches in his view on the speculative mania unfolding in GameStop shares
With earnings turning around in 2021 and the stock making a notable move, is Ford primed for a comeback? Here’s what you should know.
Some companies favor a "do one job and do it well" approach. However, that is not the Sorrento Therapeutics (SRNE) way. While being laser-focused on just one objective can have its advantages, having a wider-based remit can be just as effective, if done well. That is certainly the opinion of Alliance Global analyst James Molloy when evaluating Sorrento’s prospects. “SRNE combines one of the most active and promising pipelines in the COVID space with a potentially transformative non-opioid pain pipeline, and adds in a deep oncology pipeline,” the analyst said. “Most of SRNE's pipeline has significant catalysts over the next 1-4 quarters, with multiple late-stage clinical data read-outs and multiple potential Emergency Use Authorization (EUA) launches as well.” So, what’s on offer from the Sorrento menu in the near-term? The company has already filed an EUA for COVI-STIX, a 15-minute nasal swab antigen test for SARS-CoV-2, in the US and Mexico, and the test could be launched as early as 1H21. Accurate COVID tests are still needed in the US and around the globe, and Molloy expects the assay to gain EUA approval and could “rapidly approach $500M in sales as soon as 2022.“ SRNE's 8-minute SARS-CoV-2 antibody test COVID-TRACK could swiftly follow in its footsteps with an EUA anticipated to be filed in the year’s first half, too. “This could easily be another $500million+ near term opportunity,” Molloy said. Furthermore, the company’s two neutralizing antibody treatments, COVI-DROPS and COVI-AMG, against SARS-CoV-2, could be launched in 2022. Each of these, as well, have the potential to bring in more than $500 million in sales, according to the analyst The company’s non-opioid pain pipeline also has several late-stage catalysts. Fast tracked by the FDA, Phase 3 data for sciatica pain candidate SP-102 should be available this year, while RTX for OsteoArthritis (OA) knee pain and intractable cancer pain will kick-off Phase 2 and Phase 3 studies, respectively, in 2021. Both target “substantial market opportunities.” Last but not least is Abivertinib, the company's oncology lead candidate, indicated for non-small-cell lung cancer (NSCLC) and B-cell lymphomas, and currently in Phase 3 trials in China with top line data anticipated in 1H21. To this end, based on the progress of the company's pipeline, Molloy sees significant gains in SRNE's future. The analyst rates the stock a Buy and his $35 price target implies a hefty 277% upside. (To watch Molloy’s track record, click here) Overall, Sorrneto currently has few, yet very positive analysts tracking its progress. With Buy ratings only – 3, in total - the stock has a Strong Buy consensus rating. There’s plenty of upside projected, too; At $28.67, the average price target suggests gains of ~209% over the next 12 months. (See SRNE stock analysis on TipRanks) To find good ideas for healthcare 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.
2020 was an absolutely unbelievable year for electric vehicle stocks, but with a new administration set to take the wheel, this year could be even bigger
After the FANGs, FAANGs and MAGAs, another acronym taking the investment world by storm is FANGMAN. This acronym is used by traders to refer to stocks of seven of the biggest tech companies in the world.The combined market capitalization of these stocks is about $7.9 trillion, which is roughly 25% of the total market capitalization of S&P 500 companies. To put things in perspective, the combined market cap of these seven stocks is more than the GDP of Japan, Germany or India, which are the third, fourth and fifth largest economies of the world, respectively.The ConstituentsThe stocks in the FANGMAN group are: * Facebook, Inc. Common Stock (NASDAQ: FB) * Amazon.com, Inc. (NASDAQ: AMZN) * Netflix Inc (NASDAQ: NFLX) * Alphabet Inc Class A (NASDAQ: GOOGL) * Microsoft Corporation (NASDAQ: MSFT) * Apple Inc (NASDAQ: AAPL) and * NVIDIA Corporation (NASDAQ: NVDA)Buoying S&P 500 Performance: 2020 was a year marred by the COVID-19 pandemic that led to economic contraction worldwide due to disruptions to businesses and other activities. The stock market, given its forward-looking approach, weathered the setback and ended the year with gains.For instance, the S&P 500 Index ended 2020 at a record high and in the process generated a return of 16.2% for the year. The FANGMAN stocks played a big role int that as they outperformed the broader gauge: * Facebook: 33% * Amazon: 76.3% * Netflix: 67.1% * Alphabet: 30.9% * Microsoft: 42.5% * Apple: 82.3% * Nvidia: 129.3%Related Link: 10 Things Apple Investors May Wish For In 2021 FANGMAN, A Predictor of Stock Market Moves? Given the outsized weighting in different indices, it is logical to view FANGMAN stocks as a good predictor of which way the broader market is headed.FANGMAN Invariably Outperforms Market: For those investors who are looking for above-market returns, or "high-alpha" stocks, FANGMAN could be the better bet. These stocks outperform the broader market, thanks to their transformational business models, high growth and financial might, among other things.FANGMAN In Bubble Territory? From the perspective of topline growth, earnings potential and prospects, it is evident that the lofty valuations are justified. Higher P/E multiples of some of these stocks imply investors are willing to pay a premium to partake in their growth.Investors see them as compelling, as they are most levered to the digital transformation that is picking up pace.But the stretched valuations of these stocks could conjure up fears of a deep correction.One of the biggest risks faced by these companies is regulatory scrutiny. Analysts see the changing of the guard at the White House as a slight negative for these high-flying names."To be blunt, it's a clear negative for Big Tech as ultimately with a Senate now likely controlled by Democrats we would expect much more scrutiny and sharper teeth around FAANG names, with potential (although still a low risk) legislative changes to current antitrust laws now on the table," Wedbush analyst Daniel Ives said in a Jan. 6 note.That said, the analyst remains bullish on tech stocks for 2021, but sees the tech rally will be more tame until the Street gets a better sense of the legislative agenda under President Joe Biden.Related Link: Why This Wedbush Analyst Expects A Year-End Tech Rally Photo by Daisy Anderson from PexelsSee more from Benzinga * Click here for options trades from Benzinga * The Week Ahead In Biotech (Jan 24-30): J&J, Lilly to Kickstart Big Pharma Earnings, Amgen FDA Decision and More * 8 Intel Analysts On Q4 Report: Why Some See Difficult Years Ahead For Chipmaker(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The chip maker is scheduled to report fourth-quarter results Tuesday afternoon. Analysts expect the company to post sales of $3.02 billion, up 42% from a year ago.
Wood said large companies are asking her if they should follow Square's lead.
Investing is all about finding profits, and investors have long seen two main paths toward that goal. Growth stocks, equities that will give a return based mainly on share price appreciation, are one route. The second route lies through dividend stocks. These are stocks that pay out a percentage of profits back to shareholders – a dividend, usually sent out quarterly. The payments vary widely, from less than 1% to more than 10%, but the average, among stocks listed on the S&P 500, is about 2%. Dividends are a nice addition for a patient investor, as they provide a steady income stream. Goldman Sachs analyst Caitlin Burrows has been looking into the real estate trust segment, a group of stocks long-known for dividends that are both high and reliable – and she sees plenty of reason to expect strong growth in three stocks in particular. Running the trio through TipRanks’ database, we learned that all three have been cheered by the rest of the Street as well, as they boast a “Strong Buy” analyst consensus. Broadstone Net Lease (BNL) First up, Broadstone Net Lease, is an established REIT that went public this past September in an IPO that raised over $533 million. The company put 33.5 million shares on the market, followed by another 5 million-plus picked up by the underwriters. It was considered a successful opening, and BNL now boasts a market cap over $2.63 billion. Broadstone’s portfolio includes 628 properties across 41 US states plus the Canadian province of British Columbia. These properties host 182 tenants and are worth an aggregate of $4 billion. The best feature here is the long-term nature of the leases – the weighted average remaining lease is 10.8 years. During the third quarter, the most recent with full financials available, BNL reported a net income of $9.7 million, or 8 cents per share. The income came mainly from rents, and the company reported collecting 97.9% of rents due during the quarter. Looking ahead, the company expects $100.3 million in property acquisitions during Q4, and an increased rent collection rate of 98.8%. Broadstone’s income and high rent collections are supporting a dividend of 25 cents per common share, or $1 annually. It’s a payment affordable for the company, and offering investors a yield of 5.5%. Goldman’s Burrows sees the company’s acquisition moves as the most important factor here. "Accretive acquisitions are the key earnings driver for Broadstone… While management halted acquisitions following COVID-induced market uncertainty (BNL did not complete any acquisitions in 1H20) and ahead of its IPO, we are confident acquisitions will ramp up in 2021, and saw the beginning of this with 4Q20 activity… We estimate that BNL achieves a positive investment spread of 1.8%, leading to 0.8% of earnings growth (on 2021E FFO) for every $100mn of acquisitions (or 4.2% on our 2021E acquisition volumes),” Burrows opined. To this end, Burrows rates BNL a Buy, and her $23 price target implies an upside of ~27% for the year ahead. (To watch Burrow’s track record, click here) Wall Street generally agrees with Burrows on Broadstone, as shown by the 3 positive reviews the stock has garnered in recent weeks. These are the only reviews on file, making the analyst consensus rating a unanimous Strong Buy. The shares are currently priced at $18.16, and the average price target of $21.33 suggests a one-year upside of ~17%. (See BNL stock analysis on TipRanks) Realty Income Corporation (O) Realty Income is a major player in the REIT field. The company holds a portfolio worth more than $20 billion, with more than 6,500 properties located in 49 states, Puerto Rico, and the UK. Annual revenue exceeded $1.48 billion in fiscal year 2019 (the last with complete data), and has kept up a monthly dividend for 12 years. Looking at current data, we find that O posted 7 cents per share income in 3Q20, along with $403 million in total revenue. The company collected 93.1% of its contracted rents in the quarter. While relatively low, a drill-down to the monthly values shows that rent collection rates have been increasing since July. As noted, O pays out a monthly dividend, and has done so regularly since listing publicly in 1994. The company raised its payout in September 2020, marking the 108th increase during that time. The current payment is 23.45 cents per common share, which annualizes to $2.81 cents – and gives a yield of 4.7%. Based on the above, Burrows put this stock on her Americas Conviction List, with a Buy rating and a $79 price target for the next 12 months. This target implies a 32% upside from current levels. Backing her stance, Burrows noted, “We estimate 5.3% FFO growth per year over 2020E-2022E, versus an average of 3.1% fo rour full REIT coverage. We expect key earnings drivers will include a continued recovery in acquisition volumes and a gradual improvement in theater rents (in 2022)." The analyst added, "We assume O makes $2.8 billion of acquisitions in each of 2021 and 2022, versus the consensus expectation of $2.3 billion. [We] believe our acquisition volume assumptions could in fact turn out to be conservative as, eight days into 2021, the company has already made or agreed to make $807.5 mn of acquisitions (or 29% of our estimate for 2021)." Overall, Wall Street takes a bullish stance on Realty Income shares. 5 Buys and 1 Hold issued over the previous three months make the stock a Strong Buy. Meanwhile, the $69.80 average price target suggests ~17% upside from the current share price. (See O stock analysis on TipRanks) Essential Properties Realty Trust (EPRT) Last up, Essential Properties, owns and manages a portfolio of single-tenant commercial properties across the US. There are 214 tenants across more than 1000 properties in 16 industries, including car washes, convenience stores, medical services, and restaurants. Essential Properties boasts a high occupancy rate of 99.4% for its properties. In 3Q20, the company saw revenue increase of 18.2% year-over-year, reaching $42.9 million. Essential Properties finished the quarter with an impressive $589.4 million in available liquidity, including cash, cash equivalents, and available credit. The strong cash position and rising revenues had the company confident enough to raise the dividend in going into Q4. The new dividend payment is 24 cents per common share, up 4.3% from the previous payment. The current rate annualizes to 96 cents, and gives a yield of 4.6%. The company has been raising its dividend regularly for the past two years. In her review for Goldman, Burrows focuses on the recovery that Essential Properties has made since the height of the COVID panic last year. “When shelter in place mandates went into effect in early 2020, only 71% of EPRT’s properties were open (completely or on a limited basis). This situation has improved in the intervening months and now just 1% of EPRT’s portfolio is closed… We expect EPRT’s future earnings growth to be driven by acquisition accretion and estimate 2.8% potential earnings growth from $100 mn of acquisitions,” Burrows wrote. In line with her optimistic approach, Burrows gives EPRT shares a Buy rating, along with a $26 one-year price target, suggesting a 27% upside. All in all, EPRT has 9 recent analyst reviews, and the breakdown of 8 Buys and 1 Sell gives the stock a Strong Buy consensus rating. Shares are priced at $20.46 and have an average price target of $22.89, giving ~12% upside potential from current levels. (See EPRT 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.