Former NYPD Commissioner Ray Kelly on protests and the impact of bail reform.
Former NYPD Commissioner Ray Kelly on protests and the impact of bail reform.
One San Francisco accountant finishes every client conversation with a discussion about what a Biden administration could mean for portfolios.
Buying an EV can be daunting, but a new report shows how worthwhile the investment can be.
Lee Kun-hee, who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday after spending more than six years in hospital following a heart attack, the company said. Lee, who was 78, grew the Samsung Group into South Korea’s biggest conglomerate and became the country's richest person. "Lee is such a symbolic figure in South Korea's spectacular rise and how South Korea embraced globalisation, that his death will be remembered by so many Koreans," said Chung Sun-sup, chief executive of corporate researcher firm Chaebul.com.
Harry Markopolos is the former derivatives professional turned independent financial fraud investigator who uncovered the $65 billion Bernie Madoff Ponzi scheme, only to be ignored by the SEC for over nine years. A vocal critic of the US regulator, Harry now has the audit world and insurance industry in his sights as the next big financial frauds yet to come to light.
Get the most from your retirement savings in these affordable places outside the U.S.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
Mortgage rates dipped to another all-time low in the week ending 22nd October. Expect COVID-19 and U.S politics to continue to influence in the week.
Microsoft, Apple, Alphabet, Facebook, Amazon, AMD, Caterpillar, Comcast, GE, Ford, Pfixer, Visa, UPS, Exxon Mobil, Twitter, and more companies report third-quarter results.
Which investment strategy has stood the test of time? Growth investing. The pros from Wall Street argue that stocks with outsized growth prospects reflect some of the most compelling plays out there. This growth potential extends beyond the near-term, with these names set to deliver handsome returns through 2020 and beyond. That said, finding stocks that fall into this category can be challenging, to say the least. According to the analysts, one strategy is to take a step back and look at the big picture, focusing on the names that stand to see long-term growth on top of their impressive year-to-date gains. Bearing this in mind, we used TipRanks’ database to pinpoint three growth stocks on the receiving end of significant praise from analysts. All three of these tickers have already achieved serious growth in 2020, and are primed to keep climbing higher. Penn National Gaming (PENN) First up we have Penn National Gaming, which owns and operates gaming and racing facilities as well as has video gaming terminal operations throughout the U.S. This name has already soared 146% year-to-date, but some Wall Street analysts believe there’s plenty of fuel left in the tank. PENN recently pre-announced Q3 results that blew estimates out of the water. For the quarter, the company expects margins to expand by over 900 basis points and adjusted EBITDAR to increase by 5% year-over-year, even though revenue was tracking down 10% year-over-year. Weighing in for J.P. Morgan, five-star analyst Joseph Greff told clients, “The regional gaming recovery seen during May/June continued into the Q3, with revenues coming in better than feared; we had previously assumed a slower ramp once pent-up demand normalized and little/no opex creep from post-COVID efficiency gains.” That being said, Greff acknowledges that given the stellar share price performance, some other analysts have “thrown in the towel with downgrades.” However, he still sees “value and catalysts ahead.” The analyst commented, “... there is a tug of war in terms of investor sentiment—which we think is healthy for the stock and almost necessary for the stock to continue to move higher; in our view, traditional gaming equity investors are not completely bulled up, and, in fact, we think there is plenty of investor skepticism related to PENN’s ability to compete with DraftKings, Fanduel, Caesars Entertainment, MGM/GVC, et al., given PENN’s relative balance sheet size to fund early stage sports betting customer acquisition costs, but we believe this risk, to the extent it is meaningful, to compete is now diminished given ~$950 million raised from its recent equity raise.” On top of this, PENN recently launched the Barstool Sports betting app in Pennsylvania. Calling the early launch “encouraging both from a volume and marketing spend perspective,” Greff argues it demonstrates “the potential of its unique approach to share grab.” In addition, momentum is ramping up for Barstool Sportsbook. What’s more, Greff thinks that the current sports betting and iGaming environment resembles the emergence of regional markets in the 1990s, when states with budget deficits turned to new revenue streams like riverboat gaming to help fund budget deficits. Expounding on this, the analyst stated, “We think the states will look to USSB and iGaming in much the same way and PENN will be one of the winners. We like the U.S. Regional land-based gaming/sports betting/iGaming landscape and see upside.” It should come as no surprise, then, that Greff stayed with the bulls. In addition to an Overweight rating, he left an $83 price target on the stock. Investors could be pocketing a gain of 32%, should this target be met in the twelve months ahead. (To watch Greff’s track record, click here) What does the rest of the Street have to say? 9 Buys, 3 Holds and 1 Sell have been issued in the last three months. Therefore, PENN gets a Moderate Buy consensus rating. Based on the $76.77 average price target, shares could rise 22% in the next year. (See Penn National Gaming stock analysis on TipRanks) Redfin (RDFN) Starting out in the map-based search space, Redfin expanded its product offering to make the home tour, listing debut and escrow processes faster and easier. Out on Wall Street, some think that this name is experiencing more than just a COVID demand surge, with its 113% year-to-date gain only the beginning. Although RDFN is coming off of a strong Q3 pre-announcement, investors were somewhat disappointed by the results. BTIG’s Jake Fuller points out that shares likely traded off because “expectations were high and the scale of revenue upside modest at ~2%,” and “momentum investors tend to reward volume-led beats and RDFN actually lagged expectations on that front.” It doesn’t help that RDFN is not a focus name for many, suggesting that investors might not have looked past the revenue disclosure, according to Fuller. However, he argues the Street could be missing key pieces of the puzzle. The five-star analyst mentioned, “What might be getting overlooked here is that RDFN has stepped up commission rates with no obvious impact to conversion, and that should translate into a significantly stronger gross profit outlook for RDFN.” To this end, he bumped up his 2021 gross profit estimate by 47%. Looking at the details of the quarter, RDFN experienced robust demand, with Real Estate Services revenue increasing 36% year-over-year. Site traffic and transactions were also up on a quarter-over-quarter basis. However, it should be noted that the upside was driven by revenue per transaction. “That is important because it suggests that anticipated commission rate increases are finally contributing,” Fuller said. “By our tally, Real Estate Services revenue went from 1.68% of GTV in Q3 2019 and 1.78% in Q2 2020 to an estimated 1.85% in Q3 2020. A four-point beat on gross margin suggests high flow through on that. While difficult to assess the durability of demand, pricing gains and a better margin profile should be sustainable,” Fuller commented. In line with his optimistic approach, Fuller sides with the bulls, reiterating a Buy rating and $65 price target. This target conveys his confidence in RDFN’s ability to climb 45% higher in the next year. (To watch Fuller’s track record, click here) Turning to the rest of the Street, opinions are more varied. With 6 Buys, 5 Holds and 1 Sell assigned in the last three months, the word on the Street is that RDFN is a Moderate Buy. At $50, the average price target implies 11% upside potential. (See Redfin stock analysis on TipRanks) Vertiv Holdings (VRT) As one of the leading global providers of hardware, software and services, Vertiv Holdings helps facilitate an interconnected marketplace of digital systems where large amounts of indispensable data needs to be transmitted, analyzed, processed and stored. Up 71% year-to-date, more gains could be on the horizon, so says Wall Street. Even with the major share price appreciation, Wolfe Research analyst Nigel Coe sees a favorable risk/reward profile. “We believe that Vertiv is a rare breed that can appeal to a broad cross section of investors: a mid-cap growth company that can deliver attractive margin expansion at a discounted valuation, captained by a top-class executive team,” he explained. When it comes to VRT’s runway for growth, its key customer end markets are data center and telecommunications. These spaces are areas where Coe expects to see growth in 2020 and 2021, as well as long-term secular tailwinds from increasing data intensity and 5G upgrades. Additionally, management has outlined a pathway to 500 basis points of margin expansion, driven by efforts to keep fixed costs constant via a variety of operational upgrades and a reduction in organizational complexity. “This is the playbook deployed by Executive Chairman David Cote so successfully under his tenure at Honeywell, and this gives us conviction that a similar playbook can be deployed at Vertiv,” Coe said. It should be noted that VRT exited Q2 2020 with net debt of roughly $2.1 billion, and net debt/EBITDA landing at 4.2x. Even though this is at the high end of the range, Coe argues the balance sheet could rapidly de-leverage. To this end, he calculates surplus capital of $1 billion by 2023, assuming a net debt/EBITDA ratio of 2x. “We don't currently view Vertiv as a clear capital deployment story, but this could come to the fore over the 2022/23 time frame - we could certainly see acquisitions that bolster its capability in power distribution and perhaps at the DCIM layer. Other potential options include the settlement of warrants for cash (these are currently reflected in our diluted share count calculation) and the institution of a dividend that would widen the potential for institutional ownership. We also cannot ignore the scope for strategic partnerships with many larger electrical equipment market participants that are not significant players in the data center,” Coe commented. Everything that VRT has going for it convinced Coe to reiterate an Outperform rating. Along with the call, he set a $23 price target, suggesting 22% upside potential. (To watch Coe’s track record, click here) Are other analysts in agreement? They are. Only Buy ratings, 4 to be exact, have been published in the last three months. Therefore, the message is clear: VRT is a Strong Buy. Given the $20.75 average price target, shares could surge 10% in the next year. (See Vertiv Holdings stock analysis on TipRanks) 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.
The stock market could go either way, along with leaders such as Microsoft and Tesla. It's peak earnings week as elections loom and coronavirus cases surge.
This week’s marquee earnings and economic data reports will mostly take place later in the week, with the majority of the FAANG stocks reporting after market close on Thursday.
(AMD)’ third-quarter earnings report, set to arrive Tuesday after the closing bell, comes at an interesting moment for the semiconductor industry. The Wall Street Journal reported that (AMD) (ticker: AMD) plans to aggressively expand its operations through a potential acquisition of (XLNX) (XLNX). Meanwhile, its largest rival (INTC) has been struggling to continue to produce the advanced manufacturing technology necessary to make superior semiconductors.
Dutch pension giant PGGM doubled its investment in PayPal stock, and bought Cisco and Activision shares in the third quarter. It cut back on Qualcomm stock.
Each week Trifecta Stocks identifies names that look bearish and may present interesting investing opportunities on the short side. Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
* This weekend's Barron's cover story examines the prospects for an iconic beverage giant in a post-pandemic world. * Other featured articles discuss emerging markets stock on the rise and where to find yield in utilities. * Also, the prospects for medical REITs, a supermarket operator, cancer-focused biotechs and more. Cover story "Why Coke Could Be It Again" by Andrew Bary suggests that few big consumer companies have been hit harder by the pandemic than Coca-Cola Co. (NYSE: KO). Yet, as people return to normal in a vaccinated world, the multinational beverage giant's global exposure could help it soar to new heights.Reshma Kapadia's "These Emerging Market Stocks Can Rival U.S. Tech Giants" says that, after a down decade, emerging market stocks are looking up. A number of internet and health-care companies in overseas markets are still in their growth trajectories, offering big opportunities. Is Alibaba Group Holding Ltd. (NYSE: BABA) worth a look?In "3 Medical REITs to Play a Return in Health Care," Darren Fonda makes the case that real estate investment trusts that specialize in health-care facilities are on solid footing and they have room to grow. Find out what Barron's likes about Physicians Realty Trust (NYSE: DOC) and a couple of its peers.NextEra Energy Inc. (NYSE: NEE) is on a roll, up 26% this year, according to "8 Utility Stocks That Offer Safe and Growing Yields" by Lawrence C. Strauss. But there is no shortage of yield elsewhere in the utility sector, along with some downside protection. Xcel Energy Inc. (NYSE: XEL) is just one of the Barron's picks.In Eric Savitz's "Don't Ditch Big Tech Stocks. The Concerns Are Overblown," discover why, even as increasing regulatory scrutiny raises questions, the primary driver for companies such as Apple Inc. (NASDAQ: AAPL) and Microsoft Corp. (NASDAQ: MSFT) has been innovation and execution, not cheating and bullying.See also: Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Pfizer And More"Look Out for a Holiday-Shopping Head Fake" by Jack Hough examines why November might be the right time to dump department store stocks such as Kohl's Corp. (NYSE: KSS) and Macy's Inc. (NYSE: M) for tax losses. What about Nike Inc. (NYSE: NKE)?First Sprouts Farmers Market Inc. (NASDAQ: SFM) was a COVID-19 winner, and then it was a COVID -19 loser. So says Teresa Rivas's "Sprouts Stock Is Ready for a Rebound." After losing nearly a quarter of its value during the past three months, could this Phoenix-based supermarket chain operator be poised for a rebound?In "Bullish on Tesla, Telehealth, and the Genomics Revolution," Evie Liu shares why the CEO of ARK Investment is a student of disruption innovation, and why thinks Tesla Inc (NASDAQ: TSLA) will leave Uber Technologies Inc. (NYSE: UBER) and others in a cloud of dust.Bill Alpert's "Cancer Meeting Could Ignite These Biotech Stocks" is focused on this year's ENA Symposium, in which cancer researchers convene online to see new data on drugs being tested by a host of biotech companies. Discover why Barron's thinks Mirati Therapeutics Inc. (NASDAQ: MRTX) will be one of the most widely watched.Also in this week's Barron's: * How much you would pay under Biden's and Trump's tax plans * How the presidential candidates' tax plans would help -- and hurt -- the economy * What a blue wave could mean for the bond market * Why 2021 will be a challenge for investors * Why tech sector valuations are cause for concern * What diesel gas market may signal about the economy * The next battle in the electric vehicle wars * Whether leveraged buyouts are bouncing back * Whether China's bonds are as safe as Treasuries * Whether it is time to try Thailand's stock market At the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Click here for options trades from Benzinga * Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Pfizer And More * Last Week's Notable Insider Buys: Carnival, Citigroup And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Retirement is probably not on most teens' radars, but it should be. That’s because a relatively small investment today can grow into a much larger sum later, after decades of compounding. A great place to start is with a Roth IRA.
The mammoth dual listing for Chinese fintech giant Ant Group will be the world's biggest, according to a pricing determined on Friday night, Alibaba founder Jack Ma said on Saturday. "It's the first time that the pricing of such a big listing - the largest in human history - has been determined outside New York City" he told the Bund Summit in the eastern financial hub of Shanghai. Backed by Chinese e-commerce giant Alibaba, Ant plans to list simultaneously in Hong Kong and on Shanghai's STAR Market in the coming weeks.
Dividends and profits are no longer the most important reason for investors to buy or stay with an oil company, and while returns remain key, investors are demanding a change of course anno 2020
(Bloomberg) -- It keeps getting worse for Leon Black.Over the past week, Black’s giant investment firm, Apollo Global Management Inc., has confronted one question after another about his decades-long relationship with convicted sex offender Jeffrey Epstein.First, his own board ordered an external review prompted by Black himself. Then a Pennsylvania pension fund paused new investments -- and the state of Connecticut has done the same. One major consultant -- a gatekeeper to $160 billion of investor commitments -- has urged clients to hold off, and another is considering taking similar action.Clients who for years enjoyed some of the best returns on Wall Street are reconsidering their ties to Apollo amid renewed scrutiny over Epstein, spurred by a New York Times report earlier this month and given fresh attention from an unsealed deposition of Epstein associate Ghislaine Maxwell.Investors distancing themselves from the firm show how serious the issue has become for Black and his general partners. Some clients aren’t convinced that the review, which will be handled by law firm Dechert LLP, will be enough to clear Black’s name, according to people familiar with the matter.A freeze in new money could hurt Apollo at a time when it’s trying to raise $20 billion for several new funds. The pandemic-spurred turmoil in the credit markets is a prime investing opportunity for the firm, which is known for buying struggling businesses. Apollo is seeking to take advantage of market dislocations as well as invest in private debt, people with knowledge of the matter said in April.Black’s growing troubles reflect the changing politics of the investing world, where major funds have become more sensitive to environmental, social and governance matters. The new focus means that even the prospect of lucrative returns may not be enough of a lure in the midst of a scandal.“While performance is always going to be an important factor, increasingly it’s not the only factor,” said Gerald O’Hara, an analyst at Jefferies Financial Group Inc. “In some respects, there’s some willingness to sacrifice performance for a company that’s run with good governance, good ethics.”Investment adviser Aksia told clients not to give new money to Apollo, Bloomberg reported Friday, while Connecticut said it is halting new investments with the firm. Earlier in the week, the Pennsylvania Public School Employees’ Retirement System said it would stop making additional investments in Apollo for now, and consultant Cambridge Associates is considering not recommending the firm to its pension and endowment clients.While Black faced pressure in the immediate aftermath of Epstein’s arrest last year, investor angst was rekindled by a New York Times report that he had wired at least $50 million to Epstein after his 2008 conviction for soliciting prostitution from a teenage girl. The article didn’t accuse Black of breaking the law. Apollo shares have fallen about 12% since the story was published on Oct. 12.“We are firmly committed to transparency,” Apollo said Friday in a statement, noting that Black has been communicating regularly with investors. “Although Apollo never did business with Jeffrey Epstein, Leon has requested an independent, outside review regarding his previous professional relationship with Mr. Epstein.”In a letter to Apollo’s limited partners this month, Black said he deeply regretted having had any involvement with Epstein. Black said he had turned to him for matters such as taxes, estate planning and philanthropy, and that nothing in the Times’ report was inconsistent with an earlier description of their ties.Read more: Leon Black’s Epstein Links Threaten Apollo’s FundraisingIt will be tough for investors to cut ties completely with Apollo as private equity funds typically lock up capital for years -- a trade-off many are willing to make with the promise of high-flying returns. And unless the inquiry unearths something more damning, clients may ultimately decide to look the other way, said three investors who asked not to be identified.It’s particularly unappealing for clients to pull away given the firm’s stellar returns. Apollo’s flagship private equity fund, which opened to investors in 2001, has delivered annual gains of 44%, Bloomberg reported in January.But even yield-starved investors looking to pump more money into private equity may choose to go elsewhere in future, as rivals flood the market with new offerings.“It’s a very competitive race for capital and one thing that we continue to see in fundraising is it is in many ways more similar to a political process than a capital-raising process,” said Sarah Sandstrom, partner at Campbell Lutyens, which helps private equity firms raise money. “You are telling your story, creating relationships with investors.”(Adds previous comment from Black in 12th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
PayPal opening up its network to bitcoin and crypto is a game-changer, but the announcement hides a bigger and more important message.