Former New York City Mayor Rudy Giuliani provides insight into the Republican National Convention and the Virginia Senate approving a controversial bill that would downgrade the penalty for assaulting a police officer.
Former New York City Mayor Rudy Giuliani provides insight into the Republican National Convention and the Virginia Senate approving a controversial bill that would downgrade the penalty for assaulting a police officer.
(Bloomberg) -- Carvana Co. has yet to post a quarterly profit since going public in 2017, but it’s made Ernest Garcia II and his son Ernest Garcia III two of the richest people in America.The elder Garcia is the largest shareholder of Phoenix-based Carvana, the online retailer that sells cars out of massive vending machines. His son, Garcia III, is the company’s chief executive officer. Together they’re worth $21.6 billion, according to the Bloomberg Billionaires Index.Shares of the company surged 32% at 1:45 p.m. in New York after it projected record revenue and profit margins. The stock has rallied almost 150% this year as Americans have turned to buying household essentials, entertainment and, increasingly, used cars online.“Covid-19 is prompting consumers to seek out used cars, and CVNA is a key beneficiary of this trend,” said Alexander Potter, an analyst at Piper Sandler, in a research note Tuesday.Carvana lets customers choose from more than 19,000 cars and complete purchases in as little as 10 minutes, according to its website. Buyers have the option of picking up their car at more than a dozen vending machines located around the country, using a giant coin. Its revenue doubled to $3.9 billion last year as it sold about 200,000 cars. It now sees a path to 2 million sales a year.Garcia II is worth $15.2 billion and his son $6.4 billion, according to Bloomberg’s Index, which tracks the daily fortunes of the world’s richest 500 people.Carvana has been the target of skeptics and short sellers in the past, and its shares have been volatile since it went public. It has rallied more than 680% since a March low and has a $36.6 billion market valuation.The company said Tuesday it will sell $1 billion of new debt, seizing on the boom in demand for its vehicles and low yields in the corporate bond market. Around $600 million of the proceeds will be used to refinance existing debt, with the rest held as cash on the balance sheet.(Updates with bond sale in last 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.
Restaurant bankruptcies are starting to pile up.
U.S. President Donald Trump on Monday said he was rebuffed when he asked officials to adjust the exchange rate of the dollar to counteract what he described as repeated currency manipulation by China of its yuan. Trump told thousands of supporters at a political rally in Dayton, Ohio, that his policies were saving jobs in the political battleground state after years of inaction to confront China's aggressive behavior in global markets. The Republican president, who is seeking reelection to a second term in the Nov. 3 national poll, repeated his claim - which China denies - that Beijing deliberately changes the value of its currency to gain competitive advantage in global markets.
Peloton falls after rival exercise bike maker Echelon and e-commerce giant Amazon.com reveal a competing tech-enabled bike at a significantly lower price.
When analysts raise their earnings estimates, shares of some of the hardest-hit companies will begin to bounce back.
Cash is king ahead of a highly uncertain presidential election in November, new findings out of Morgan Stanley suggest.
Is it time for the bears to break out the champagne glasses? Not so fast, says Goldman Sachs. Volatility has ruled the Street for the last few weeks, leading some to conclude that those with a more pessimistic outlook had been vindicated, but the firm believes stocks can still climb higher.According to Goldman Sachs’ head of U.S. equity strategy, David Kostin, the S&P 500 could still hit 3,600 by the end of the year, and 3,800 by mid-2021, on the back of vaccine-related optimism and progress with the economic reopening. This would reflect gains of 10% and 16%, respectively, should the index ultimately reach these targets.“Despite the sharp sell-off in the past week, we remain optimistic about the path of the U.S. equity market in coming months. The Superforecaster probability of a mass-distributed vaccine by Q1 2021 has surged to nearly 70% and economic data show a continuing recovery,” Kostin wrote in a recent note. On top of this, the strategist argues the vaccine’s arrival will push U.S. GDP growth to 6%, compared to the 3.9% consensus estimate.Given Kostin’s outlook, we wanted to check out three stocks scoring major praise from Goldman Sachs. Not only have they been given a Buy rating, but the firm’s analysts also see at least 50% upside potential on tap for each. Using TipRanks’ database, we found out that all three tickers have gotten a thumbs up from analysts at other firms as well. Let's take a closer look.Intellia Therapeutics (NTLA)Focused on utilizing gene editing to develop cell therapies, Intellia Therapeutics wants to stomp out cancer and other immunological diseases for good. Based on its innovative technology, Goldman Sachs recommends that investors pull the trigger.Representing the firm, 5-star analyst Salveen Richter believes that what makes NTLA a stand-out is its “use of an adaptive gene editing system based on a proprietary lipid nanoparticle (LNP) delivery method of CRISPR/Cas9 to leverage multiple gene editing strategies.” These include the generation of knock-outs (KO) for toxic genes, restoring functional genes by inserting new DNA sequences and the use of consecutive editing combining KO and insertion approaches.“We are positive on NTLA’s in vivo gene editing approach as it offers a modular system with CRISPR/Cas9 gene editing for functionally curative outcomes. While we note the initial focus is on delivery to the liver, extrahepatic tissue targeting (i.e. CNS) could expand the breadth of NTLA’s platform. NTLA is also leveraging its CRISPR/Cas9 editing tools ex vivo to create next-generation engineered cells that can treat oncological and immunological diseases,” Richter explained.To this end, the analyst sees several potential catalysts on tap for the next year. Proof-of-concept data for lead program NTLA-2001, its therapy targeting transthyretin amyloidosis (ATTR), a slowly progressive condition characterized by the buildup of abnormal deposits of a protein called amyloid (amyloidosis) in the body's organs and tissues, could come by mid-2021. This data stands to “inform the drug’s clinical profile (safety/tolerability and early signs of sustained TTR knockdown),” which would de-risk NTLA’s in vivo editing platform, in Richter’s opinion.On top of this, IND-enabling studies for NTLA-2002, its therapy designed for hereditary angioedema (HAE), and NTLA-5001, its therapy for WT1+ acute myeloid leukemia (AML), are set to kick off in 2021. Richter estimates that peak sales for both candidates could reach $895 million and $806 million, respectively, with data from both also validating “the breadth of editing approaches (knockouts and/or insertions).”If that wasn’t enough, Richter cites the ongoing NVS-led Phase 1/2 OTQ923 sickle cell disease (SCD) trial as a possible upside driver. “While we note the limited economics to NTLA from this program and competitor dynamics with bluebird bio’s (BLUE) LentiGlobin and CRISPR Therapeutics’ (CRSP) CTX001 that are ahead in clinical development, the study should serve as proof-of-concept for the platform. First data could be presented in 2021,” the analyst commented.All of this prompted Richer to initiate coverage with a Buy rating and $33 price target. This target conveys her confidence in NTLA’s ability to climb 50% higher in the next year. (To watch Richter’s track record, click here)Looking at the consensus breakdown, 3 Buys and 2 Holds have been published in the last three months. Therefore, NTLA gets a Moderate Buy consensus rating. Based on the $37.13 average price target, shares could rise 67% in the next year. (See NTLA stock analysis on TipRanks)Vir Biotechnology (VIR)Moving on to another healthcare company, Vir Biotechnology is developing a broad portfolio of product candidates that are designed to combat serious, global infectious diseases in new ways. With it standing at the front of the pack in the COVID-19 monoclonal antibody (mAb) race, it’s no wonder Goldman Sachs likes what it’s seeing.Firm analyst Paul Choi cites a recent data readout from one of VIR’s competitors as reaffirming his confidence. On September 16, Eli Lilly reported interim data from the Phase 2 BLAZE-1 trial evaluating its mAb therapies, LY-CoV555 and LY-CoV016, in mild or moderate COVID-19 patients. The data revealed that treatment with LY-CoV555 led to a roughly 72% reduction in the need for hospitalization, with no safety signals observed.Choi also points out that the results were more “pronounced” in high risk patients (age or BMI) as most study hospitalizations across both groups occurred in patients with these underlying risk factors.While resistant viral variants did appear in 8% of LY-CoV555-treated patients and 6% of patients on placebo, management has stated that competing single or multiple mAb “cocktail” approaches might not be optimized, with viral escape mutants potentially emerging. VIR argues its approach is differentiated given the high barrier to resistance, potent effector function, potential for increased lung tissue concentration and extended half-life.Even though VIR is behind its peers in terms of development timelines, Choi thinks that the company is making substantial progress. VIR recently initiated the Phase 2/3 COMET-ICE study of VIR-7831, its mAb for COVID-19, as a monotherapy (versus a combination approach) in patients with mild or moderate COVID-19. Initial data is set to be released by the end of 2020, with top-line data expected in January. Weighing in on the above, Choi commented, “In the absence of preclinical binding affinity data from LY-CoV555, it is premature to hypothesize on the potential for VIR-7831 to demonstrate improved efficacy vs. the competing antibodies; however, we see the LLY data as establishing proof-of-concept for antibodies in COVID-19 while also setting an attainable bar for future antibody monotherapy/cocktail treatments. Moreover, we view the addressable market for COVID-19 antibodies as significant enough to support several approved therapies in the indication in the near-term.”In line with his optimistic approach, Choi reiterated his Buy rating and $54 price target. Should the 5-star analyst’s thesis play out, a twelve-month gain of 69% could potentially be in the cards. (To watch Choi’s track record, click here)Is the rest of the Street in agreement? The majority of other analysts are. 4 Buys, 1 Hold and 1 Sell have been issued in the last three months, so the word on the Street is that VIR is a Moderate Buy. With the average price target clocking in at $51.67, shares could jump 61% in the next year. (See VIR stock analysis on TipRanks)Peloton Interactive (PTON)Switching gears now, we move on to Peloton Interactive. The company, which offers exercise bikes and remote workout classes, rose to fame at the start of the COVID-19 pandemic. After its fiscal Q4 earnings results blew estimates out of the water, Goldman Sachs believes this stock has more room to run.In the most recent quarter, PTON posted revenue of $607.1 million, beating the $586.2 million consensus estimate and reflecting a 172% year-over-year increase. This is up from growth of 65.6% in the previous quarter. Adjusted EBITDA came in at $143.6 million, ahead of the Street’s $73.5 million call. Management pointed to heightened demand during the COVID-19 crisis and significantly lower marketing spend as the drivers of this strong showing.Goldman Sachs’ Heath Terry tells clients he was especially excited about the Connected Fitness segment’s performance. Connected Fitness product revenue landed at $486 million, up 199% year-over-year, while customer deposits and deferred revenue grew 300% year-over-year. The five-star analyst also highlights the fact that subscriber net adds were 205,000, versus 174,100 net adds in fiscal Q3 2020 and guidance of 154-164,000.As for PTON’s forward-looking guidance, Terry was also impressed. “While the company guided fiscal Q1 2021 and FY21 revenue and adjusted EBITDA well above consensus, given the backlog of demand exiting the June quarter and the 6-8 weeks of deliveries already on order by consumers, we expect this guidance will again prove overly conservative,” he explained.This performance prompted Terry to state, “We continue to believe that Peloton represents a significant long-term opportunity as the company is in the earliest stages of creating new and expanding existing categories of connected fitness products, an opportunity that we believe has been permanently accelerated by the current COVID-19 crisis.”It should be noted that the company faces significant risks going forward. These include new entrants, evolving consumer tastes as well as execution challenges. That being said, Terry’s bullish thesis remains very much intact.Expounding on this, the analyst said, “... we believe that the window of opportunity for any meaningful competitor is rapidly closing, something that, along with the large and expanding addressable market for Peloton’s high ARPU, high margin, extremely low churn subscription business, remains underappreciated by the market, even with the stock’s recent outperformance.”It should come as no surprise, then, that Terry stayed with the bulls. To this end, he kept a Buy rating and $138 price target on the stock. Investors could be pocketing a gain of 53%, should this target be met in the twelve months ahead. (To watch Terry’s track record, click here)In general, other analysts are on the same page. PTON’s Strong Buy consensus rating breaks down into 20 Buys, 2 Holds and 1 Sell. The $112.05 average price target brings the upside potential to 23%. (See PTON stock analysis on TipRanks)To find good ideas for 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.
"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from," Scharf said in the memo, seen by Reuters. Scharf spent more time listening than speaking during the previously unreported 90-minute call which he initiated.
A slew of big name entrepreneurs and celebrities are really circling the drain with their latest investment. Led by Greycroft Partners, a who's who of celebrity investors, including Mark Cuban, Marc Benioff, Iron Man and Pepper Potts (er... Robert Downey Jr. and Gwyneth Paltrow), Uber's chief executive Dara Khosrowshahi, Seattle Seahawks quarterback Russell Wilson, Ashton Kutcher and Guy Oseary's Sound Ventures, and Code.org founder Hadi Partovi are investing $3 million into the new toilet paper brand Cloud Paper.
When are we going to get real about the looming retirement and aging crisis in this country? The latest evidence that there’s an iceberg straight ahead comes courtesy of the Transamerica Center for Retirement Studies, which has just published its 20 annual retirement survey of U.S. workers.
Peloton rival Echelon unveiled a new smart exercise bike in partnership with Amazon and it even features a familiar name.
During a discussion with Mad Money show host Jim Cramer, Chief Executive Officer of Coca-Cola Co (NYSE: KO) James Quincey cleared the air about its new product. Quincey clarified that the company's Hard Seltzer drink is estimated to be released sometime in the first half of 2021.The company has been entirely engaged in non-alcoholic beverage concentrates and syrups in the last four decades and this would be its first attempt to create a product line of Hard Seltzers in the United States since the early 80s.What Happened: Coca-Cola plans to launch its alcoholic beverage under its Topo Chico brand. According to CNBC, the initial launch will be made in Mexico, followed by the U.S. launch.The Brazil launch is expected sometime later this month. In 2018, Coca-Cola also launched Lemon-Do - and alcoholic drink in Japan.In 2017, Coco-Cola acquired the Mexican company Topo Chico for $220 million.Why Does It Matter: CNBC cited research by Bump Williams Consulting Co., which estimated a Hard Seltzer sales figure of $3 billion in the U.S for the 12 months ended in mid-July.Constellation Brands Inc (NYSE: STZ), which produces Corona beer, also ventured in the fast-growing Hard Seltzer market this year. At the time, Corona Hard Seltzer gained a 6% IRI market share in the U.S. and was ranked as the fourth major player.Price Movement: After a 2.68% drop during trading hours, Coca-Cola marginally rose 0.26% to end the extended trading hours at $49.22.Related Links: Pepsi Launches A Sleep Beverage: What You Need To Know About DriftwellSee more from Benzinga * WM Motor Raises .5B Amid China's Electric Vehicle Frenzy * Chewy's Ryan Cohen Sees GameStop Rivaling Amazon Long-Term * Trian Fund, Best Known For Investor Activism In GE, P&G, Takes 0M Stake In Comcast(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Aurora Cannabis reports fiscal fourth quarter earnings after the close, after getting a new CEO. Aurora Cannabis and other marijuana stocks rose.
Bob Dylan sang, “There’s too much confusion, I can’t get no relief,” and that is a good way to describe the condition of the markets right now.Investors must interpret a range of conflicting signals. Macroeconomic data is rising – unemployment is falling, consumer confidence and spending are up – and indications are, the economy is recovering quickly from the sharp recession we experienced earlier this year. That goes hand-in-hand with a perception that COVID-19 is beginning to face back, and there are signs that another lockdown may be coming. Will there be a national policy? Or will we see a state-by-state reaction. In that case, the blue states are more likely to double down on lockdowns, with California leading the way, while the red states try to maintain current conditions.And speaking of blue and red, there is always the election looming over everything. While Democrat Joe Biden appeared to hold a comfortable lead through the summer, the race is tightening and incumbent President Trump is narrowing that gap, especially in the key swing states that will decide the electoral college. It’s an investment environment that is made for dividend stocks. These are the classic defensive plays – reliable dividend payers provide a steady stream of income no matter whether the portfolio gains or loses. Writing from Jefferies, which earns the top spot on TipRanks’ list of Top Performing Research Firms, three analysts show us why high-yield dividends are on their minds. These are their picks for proactive investors looking to buy into the market now, while prices are low – and the yields start at 8% and go up from there. We’ve pulled the details on these three picks from the TipRanks database, to find out who else recommends them.Compass Diversified Holdings (CODI)First on the list is Compass Diversified, a holding company with a varied portfolio of middle-market businesses. The company’s portfolio generated over $1.5 billion in revenue last year. Compass has built its portfolio with a goal of long-term cash generation, and has a 22-year record of success. They use the cash to fund a generous dividend for their own shareholders.That dividend yields 8.14%, more than 4x the average yield found among S&P-listed companies. Compass has kept its payment reliable for the past 14 years, an enviable record, and saw no need to make changes to the payment during the corona crisis. The current quarterly payout is 36 cents per common share, annualized to $1.44.The company funds the dividend with strong revenues and earnings. The highly diverse portfolio helped insulate Compass from losses in the crisis atmosphere of 2020. In the first half, CODI reported EPS of 29 cents and 36 cents in the first two quarters. This was down 50 cents from 4Q19, but compares well with the 1H19 quarterly results of 18 cents and 36 cents.Analyst Kyle Joseph covers this stock for Jefferies, and he is impressed.“We view the anticipated recovery in portfolio company sales/EBITDA encouragingly and highlight that some businesses saw improving demand, highlighting portfolio diversification benefits. CODI has significant levels of dry powder to take advantage of recent market dislocation… we like CODI's unique structure as a publicly-traded PE shop with permanent capital that affords the company enhanced investment flexibility/patience and competitive advantages,” Joseph opined.Accordingly, Joseph rates CODI a Buy along with a $22 price target. That target implies an upside potential of 30% for the coming year. (To watch Joseph’s track record, click here)Overall, CODI has a Moderate Buy from the analyst consensus rating, with 2 Buys and 1 Hold given in recent weeks. The stock’s share price is $16.91, and the $21 average price target suggests room for 24.5% upside growth in the next 12 months. (See CODI stock analysis on TipRanks)Enterprise Products Partners (EPD)Next up is an oil and gas company, part of the midstream sector that connects the wells with the customers. Enterprise controls a network of pipelines, for both oil and natural gas, totaling over 50,000 miles, along with storage facilities adequate for 160 million barrels of oil and 14 billion cubic feet of gas, and shipping terminals located in the hydrocarbon-rich Gulf coast of Texas.Even with revenues and earnings slipping in the first half of this year, Enterprise finished 1H20 with solid liquidity. The company reported having $7.3 billion in available cash and credit. Q2 earnings were down 22% sequentially, but were inline with the analyst consensus.The company has used its earnings and liquidity to maintain its dividend. The payment, at 44.5 cents, has been increased gradually over the past 12 years. The current payout annualized to $1.78 per common share, and yields an impressive 10.72%.Jefferies analyst Christopher Sighinolfi was careful to note EPD’s liquidity strength in his note.“…better than anticipated 2Q results illustrate the resiliency & flexibility of EPD's assets and personnel, mgmt commentary underscores a continued recovery in operating conditions in 3Q… At quarter-end, EPD had $7.3B in consolidated liquidity, including $6.0B of available capacity under its credit facilities, and $1.3B in unrestricted cash,” Sighinolfi noted.To this end, Sighinolfi rates EPD a Buy along with a $24 price target. This figure implies a strong 47% one-year upside from current levels. (To watch Sighinolfi’s track record, click here)Overall, Enterprise gets a Strong Buy rating from the analyst consensus, and it is unanimous, based on 7 recent Buy reviews. The shares have an average price target of $23.33, suggesting a 43% upside from the current share price of $16.28. (See EPD stock analysis on TipRanks)Enbridge, Inc. (ENB)Last up is Enbridge, Canada’s largest natural gas distributor – and the operator of the longest crude oil transport pipeline system in North America. Enbridge is a giant of the midstream sector, with over $60 billion in market cap.As the corona crisis started and first took hold, in Q1, Enbridge saw little difficulty. The company reported high sequential gains in earnings for the 1Q20, with EPS rising from 46 to 62 cents (61 cents to 82 cents Canadian) and revenue stable at $9 billion ($12 billion Canadian). Q2 saw a reversal, as the effects of the pandemic hit Enbridge. Revenue fell to $5.9 billion ($7.9 billion Canadian), and EPS dropped to 41 cents (54 cents Canadian).Through all of this, Enbridge has kept up its dividend payments – not missing any, even though the company did adjust payouts to keep the dividend sustainable. The current payment is 61 cents US (81 cents Canadian), and gives a yield of 8.2%.Jefferies analyst Vikram Bagri notes several positive developments for ENB in recent months.“ENB sanctioned $1B of new growth projects including four gas utility projects and another European offshore wind project… ENB extended approximately $10B of 364 day extendible credit facilities by one year bringing total liquidity to ~$14.6B, sufficient for ENB to execute on its plans,” Bagri explained.Bagri rates ENB a Buy along with a C$49 price target (US$37.18), implying a 26% upside for the year ahead. (To watch Bagri’s track record, click here)The analyst consensus rating on ENB is a Strong Buy; the stock has 12 Buys and 2 Holds set recently. Shares are selling for $29.57 (C$39.27), and the average price target of $39.63 ($52.23 Canadian) indicates room for a 34% upside potential. (See Enbridge’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.
Tesla’s (TSLA) highly anticipated Battery Day is finally upon us and the excitement is palpable on Wall Street. After market close today, Tesla will host the long-delayed event and looking ahead to the shenanigans, Canaccord analyst Jed Dorsheimer expects there will be “a plenty for everyone.”Expounding on this, the analyst said, “Bulls are likely to highlight a 1-million-mile battery or perhaps the CO2 light supply deals. Bears will highlight that TSLA promotions typically fail to materialize, a valid concern, and a shift towards more difficult milestones (SEMI, CyberTruck, and competition). Our take? We think the day will be a trove of tangential ways for investors to capitalize on a shifting market for BEVs.”Dorsheimer expects the announcement of “new anode chemistry.” Adding to last year’s Maxwell acquisition, the analyst anticipates a partnership with a silicon-based solution provider such as Sila Technologies “to gain performance benefits without the swelling.”Additionally, Dorsheimer expects a number of shrewd supply agreements “on the cathode side of the equation.”More info on battery management, and clarity over concerns of “LFP (lithium iron phosphate batteries) beyond China” could also be on the agenda. However, concerning the latter, per noises from Tesla’s direction, it appears unlikely and indicates to Dorsheimer that “the company is worried about competition in Europe.”In conclusion, Dorsheimer signs off by sounding a note of caution and believes the “big question will be on follow through.”“It's one thing to announce all these breakthroughs, which might be great for momentum algorithms,” the analyst said, “But like most things TSLA, the devil will be in the details, which sadly will take some time to play out.”So, can the Battery Day event catapult Tesla shares higher? Dorsheimer believes it's best to stay on the sidelines for now. The analyst reiterated a Hold rating on TSLA along with a $442 price target. Therefore, the analyst expects shares to remain range bound for the foreseeable future. (To watch Dorsheimer’s track record, click here)Overall, Wall Street is not convinced that Musk's tech empire's reward is worth all the risk, especially when taking note that TipRanks analytics exhibit TSLA as a Hold. With a potential downside of 26%, the stock’s consensus target price stands at $314.27. (See Tesla stock analysis on TipRanks)To find good ideas for 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.
Estate planning goes beyond drafting a will. Use this pre-death checklist to account for your assets and ensure they are dispersed as you wish,
Carvana stock soared Tuesday as the online seller of used automobiles said it expects to achieve a record-setting performance in the third quarter. Its main competitor, Vroom, also jumped.
Fall kicks off today — and investors are prepping for the S&P; 500 fall slump. But some stocks duck some seasonal damage, including one Warren Buffett loaded up on.
Among millennials this percentage is just 16%. More than 71% of older adults rate themselves as having “high financial knowledge.” The comparable percentage among millennials is only slightly lower at 62%.
The Dow Jones Industrial Average fell 125 points early Tuesday after Monday's stock market sell-off. Tesla skidded 6% on an Elon Musk tweet.