Luq Niazi, IBM Global Managing Director for Consumer Industries, speaks to Yahoo Finance's Brian Sozzi at "NRF 2019: Retail's Big Show." They discuss the future of retail and its intersection with technology.
I don't pick stocks on politics, but was shocked to see how a majority of our Action Alerts PLUS holdings would perform if Joe Biden wins the White House.
‘There are four daughters. I paid the house off for my parents seven years ago and have paid the taxes each year since then.’
Billionaire investor Ron Baron has been pumping Tesla for years now, and who can really argue with him at this point?
Every October, the Social Security Administration (SSA) announces its annual changes to the Social Security program for the coming year. Here are the Social Security changes that were announced in Oct. 2020 and take effect on Jan. 1, 2021, according to the SSA's annual fact sheet. Keep them in mind when you update your Social Security information. For 2021, nearly 70 million Social Security recipients are seeing a 1.3% cost-of-living adjustment (COLA) to their monthly benefits.
There’s no disputing investors are putting a premium on U.S. tech stocks. The question is whether that premium is deserved or not.
The stock market still looks healthy despite Wednesday's pullback. Tesla led EV breakouts. Fastly and Vertex crashed late on news.
Election day is just around the corner, and Wall Street is placing its bet on a Democratic sweep. Following the Presidential debate on September 29, the chance of a Biden victory has been increasing in the market.Since September 30, the S&P 500 has moved 5.5% higher. That said, the rotation into cyclicals and small-caps has been much more pronounced, with the Russell 2000 surging 8.5% over the same period.Weighing in for Raymond James, strategist Tavis McCour argues the shift into cyclicals and small-caps “provides some evidence of how the market will rotate in the case of a Democratic sweep, with the logic being stronger fiscal support, steeper yield curve and faster cyclical recovery.”McCour points out that “in the background is remarkably sustainable economic data, and the likely positive impact to EPS.” According to the strategist, Atlanta Fed GDPNow, a model used to estimate real GDP, has increased materially since July, with the firm’s analysts continuing to skew towards raising 2020 EPS estimates nearly every week since May. He noted, “Every sector of the S&P 500 has seen 2020 EPS expectations increase since mid-August (which is not normal). It should be a good Q3 earnings season, and earnings still matter.”Bearing this in mind, our focus turned to three stocks backed by Raymond James, with the firm’s analysts noting that each could skyrocket over 100% from current levels. Running the tickers through TipRanks’ database, we found out that the rest of the Street is also on board, as each boasts a “Strong Buy” consensus rating.Catalyst Biosciences (CBIO)Focused on addressing unmet needs in rare hemostasis and complement-mediated disorders, Catalyst Biosciences hopes to improve the lives of patients from all over the world. Based on the progress of its development pipeline, Raymond James believes its $4.80 share price could reflect the ideal entry point.After the company provided an update on the recent progress made by both of its lead assets gearing up for Phase 3, MarzAA and DalcA, firm analyst David Novak points out that his bullish thesis is very much intact. MarzAA is a next-generation SQ FVIIa designed as a potential treatment for hemophilia A or B with inhibitors, and DalcA is an SQ FIX designed for hemophilia B.“With two Phase 3-ready assets addressing a significant market opportunity and shares currently trading at an enterprise value of ~$2 million, CBIO remains substantially undervalued in our view. We believe the company is well-positioned for a significant market re-rating over the next 12 months,” Novak commented.Highlighting its poster presentations at the International Society for Thrombosis and Haemostasis (ISTH) Virtual Congress, Novak believes the data supports the selected dosing regimen for MarzAA in the upcoming Phase 3 CRIMSON-1 trial. On top of this, strong safety and efficacy data from its Phase 2b trial of DalcA was presented at the World Federation of Hemophilia Virtual Summit.To this end, Novak sees several potential catalysts on the horizon. The enrollment of the first patient in the Phase 3 trial of MarzAA in hemophilia A or B with inhibitors is slated for 2H20, but this is subject to COVID-related delays. What’s more, MarzAA will be evaluated in a Phase 1/2 trial in patients with FVII deficiency, Glanzmann Thrombastenia and those using Hemlibra, with this trial set to kick off in late 2020.Adding to the good news, the announcement of a FIX gene therapy candidate and the unveiling of a systemic complement inhibitor development candidate, which could both come in late 2020, stand to drive additional upside, in Novak’s opinion.To this end, Novak rates CBIO an Outperform (i.e. Buy) along with a $20 price target. Investors could be pocketing a massive gain of 317%, should this target be met in the twelve months ahead. (To watch Novak’s track record, click here)Other analysts don’t beg to differ. With 3 Buy ratings and no Holds or Sells, the word on the Street is that CBIO is a Strong Buy. At $19.33, the average price target implies 303% upside potential from current levels. (See CBIO stock analysis on TipRanks)Mirum Pharmaceuticals (MIRM)With the goal of creating life-changing therapies for patients with liver diseases, Mirum Pharmaceuticals believes its approach can address the underlying causes. Ahead of a key filing, Raymond James likes what it has been seeing.Writing for the firm, 5-star analyst Steven Seedhouse points out that his optimism is driven by MIRM’s new plan to submit an MAA application to the European Medicines Agency (EMA) for maralixibat (MRX), its minimally absorbed and orally administered investigational therapy that could potentially be used in several indications, in PFIC2 in Q4 2020.While this filing would come before the ongoing MARCH Phase 3 study wraps up, Seedhouse points out that this move is in line with discussions it has already had with the EMA. According to the analyst, based on statistical analyses conducted by NAPPED that compared Phase 2 data (including long-term transplant-free survival data) to natural history data, the EMA is on board with MIRM’s strategy to file for full approval.“Thus, we have increased confidence MRX will be approved in PFIC2, which we estimate could occur by Q1 2022 (up from our estimate of 2H22),” Seedhouse mentioned. Contributing to his bullish stance, MRX already has a very large safety database as it has been evaluated in several studies across multiple indications (NASH, ALGS and PFIC).Additionally, the Phase 2 INDIGO study demonstrated a statistically significant pruritus improvement (ItchRO scale) in the overall PFIC2 population, as well as strong and sustained improvements in serum bile acid (sBA) level, ItchRO score, height z-score and PedsQL (quality of life metric) for 6 responder patients that all had a form of the disease characterized by non-truncating bile salt export pump (BSEP) protein. Approximately half of all PFIC patients fall into this category.Looking at data on five-year outcomes with MRX, transplant-free survival was established in seven non-truncating PFIC2 patients who achieved sBA control. If that wasn’t enough, no clinical events were witnessed and 2 out of 7 patients came off of the transplant waiting list.Seedhouse added, “This data is further supported by natural history data from the NAPPED consortium, which shows 100% 15-year native liver survival in biliary diversion patients with sBA levels controlled to below 102µmol/L.”Everything that MIRM has going for it convinced Seedhouse to put a Strong Buy rating on the stock. He assigned a $48 price target, suggesting 140% upside potential. (To watch Seedhouse’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 5 to be exact, have been issued in the last three months. Therefore, the message is clear: MIRM is a Strong Buy. Given the $49.50 average price target, shares could soar 150% in the next year. (See MIRM stock analysis on TipRanks)PolyPid (PYPD)Last but not least we have PolyPid, which develops locally administered therapies to improve surgical outcomes. Given the strength of its PLEX (Polymer-Lipid Encapsulation matriX) technology, which is a platform that is anchored in the surgical site to provide controlled and continuous delivery of medications, Raymond James thinks that it's time to get in on the action.The company only IPO’d in June, and it has already impressed firm analyst Elliot Wilbur. Looking at its D-PLEX100 product, it was granted Fast Track Designation by the FDA for the prevention of post abdominal surgical site infections (SSIs) in August. Fast Track Designation gives PYPD an advantage in that it increases the frequency of communication with the FDA. Additionally, it enables a rolling submission of the NDA, which allows the company to submit parts of the application as they are completed, expediting the review process.“Although earlier approval is not guaranteed with the Fast Track Designation, the additional resources available to the company and the FDA recognition that D-PLEX100 has potential to address the unmet medical needs of the SSI market should be viewed as positives,” Wilbur stated.In July, PYPD enrolled the first patient in its randomized SHIELD I (Surgical site Hospital acquired Infection prEvention with Local D-plex) trial, the first of two Phase 3 clinical trials evaluating D-PLEX100 in post-abdominal surgery (soft tissue) SSIs. The primary endpoint is prevention of deep or superficial surgical site infection, as determined by a blinded review committee within 30 days post abdominal surgery.Wilbur expects the application of D-PLEX100 locally to the wound site combined with its extended release through thousands of bilayers of polymers and lipids to yield increased efficacy and safety over the current standard of care (SoC), which usually involves an antibiotic IV before an incision.It should be noted that SHIELD I remains on track to enroll 600-900 patients across 60 centers globally, starting with centers in Israel and Europe before continuing to the U.S. “Management sees minimal anticipated impacts from the COVID-19 pandemic for this trial, and robust top line data (expected in late 2021) coupled with the benefits from the Fast Track Designation may be enough to obtain early approval for the drug,” Wilbur commented.As SHIELD II is set to initiate in late 2020, with it serving as the second potential confirmatory Phase 3 trial, Wilbur sees an exciting opportunity on the table.It should come as no surprise, then, that Wilbur sides with the bulls. In addition to an Outperform rating, he, the price target is left at $23, indicating 128% upside potential. (To watch Wilbur’s track record, click here)What does the rest of the Street have to say? Other analysts echo Wilbur’s sentiment. PYPD’s Strong Buy consensus rating breaks down into 4 Buys and no Holds or Sells. With an average price target of $25.50, the upside potential comes in at 153%. (See PYPD 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.
After record setting deliveries in the last quarter, all eyes are on the Tesla Inc (NASDAQ: TSLA) third-quarter earnings scheduled for Oct. 21.Goldman Sachs raised its price target for Tesla on Tuesday in anticipation of a strong third quarter for the automotive industry.The Tesla Analyst: Mark Delaney maintained a Neutral rating on Tesla and bumped the price target from $400 to $450. The Tesla Takeaways: Goldman Sachs sees electric vehicle adoption, margins and market share all increasing, Delaney said in a note.Several other automakers received higher price targets from Goldman, and the analyst said companies with higher auto exposure could have strong earnings reports based on recent industry data.Auto sales are approaching pre-COVID-19 levels, and China retail sales were up 7% in September, he said. Upcoming Tesla Catalysts: Tesla is set to report third-quarter earnings Oct. 21.The company also recently announced a new type of vehicle battery that's expected to reduce costs will increasing vehicle range and safety.Tesla is building multiple new auto manufacturing facilities in Berlin, Germany and Austin, Texas.Tesla is expected to begin ramping up production of the Tesla Semi soon, as well as begin deliveries of the highly anticipated Cybertruck in late 2021.TSLA Price Action: Tesla shares were up 3.28% at $461.30 at the close Wednesday. Photo courtesy of Tesla.Latest Ratings for TSLA DateFirmActionFromTo Oct 2020Goldman SachsMaintainsNeutral Oct 2020CitigroupMaintainsSell Oct 2020New StreetUpgradesNeutralBuy View More Analyst Ratings for TSLA View the Latest Analyst Ratings See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Musk Claims Tesla Model S Price Will Be Lowered To ,420 * Lucid Reveals Specs For Air Sedan, Undercutting Tesla's Model S(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
"You shouldn't necessarily overlook 'bad' stocks. Of course, do your due diligence. And definitely don't invest all your eggs there. But conversely, don't ignore picks just because someone tells you to."
Nio boasts several near-term catalysts, and the Chinese EV maker is poised to take a big slice of the market that Tesla dominates, a Wall Street firm said.
Nikola Corporation (NASDAQ: NKLA) shares have stabilized somewhat in the past two weeks following a major September swoon.A Hindenburg Research report accusing Nikola of being "an intricate fraud built on dozens of lies" and the resignation of chairman Trevor Milton triggered the sell-off, but Nikola investors may soon face another major hurdle in the stock's lock-up expiration.What Is Lock-Up Expiration? One of the ways companies keep volatility in check during the weeks and months following a new stock's IPO or initial listing is by setting lock-up periods for company insiders.A lock-up period is a period typically ranging from between three months and a year during which insider and institutional investors are restricted from dumping potentially billions of dollars worth of shares into the market.Once the lock-up period expires, however, all bets are off. That's why lock-up expiration dates can be days on which stocks like Nikola experience heavy selling pressure.Related Link: A Look At Workhorse Options Activity Amid USPS Delay, Roth DowngradeWhy It's Important: Lock-up expiration dates are often volatile enough without the stock being accused of fraud. Nikola's lock-up expiration is Nov. 30, and the company has been on the offensive to try to convince investors that its company holds true value and prevent a massive exodus of insider investors once the lock-up period ends.Former hedge fund manager Whitney Tilson is skeptical of the electric truck maker's efforts at last week's virtual Mission Hydrogen conference."Translation: 'Can we put enough lipstick on this pig to lure enough gullible individual investors into this stock to prop up the price enough for insiders to dump their shares?'" Tilson wrote this week.Benzinga's Take: If insiders bail on Nikola in droves on Nov. 30, there may be no way to recover the companies reputation or its stock price.Nikola trades around $24.38 at publication. The stock has a year-to-date range of $79.73 and $10.32 per share.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Hindenburg On Loop Industries: 'Smoke And Mirrors With No Viable Technology' * 10 Takeaways From BofA's Future Car Conference(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg) -- A unit of Warren Buffett’s Berkshire Hathaway Inc. claims a top international law firm helped German piping component maker Wilhelm Schulz GmbH fraudulently conceal its disastrous finances before its 2017 acquisition by the U.S. company.Berkshire unit Precision Castparts Corp. sued 2,500-lawyer Jones Day, which represented Schulz in the $940 million acquisition, in a state court in Houston, alleging the firm played a “substantial role in aiding and abetting” a scheme to mislead Precision into signing a deal worth a fraction of the purchase price.The suit is an attempt to put Jones Day on the hook in case Schulz is unable to pay all or part of a $755.5 million arbitration award Precision won in April. Schulz is currently in “preliminary insolvency proceedings” and the subject of a criminal investigation in Germany, Precision claimed in its Sept. 24 complaint.Dave Petrou, a Jones Day spokesman, declined to comment on the allegations. The firm is one of the largest in the world, with 43 offices around the world. It has represented President Donald Trump’s campaign, and his former White House Counsel Donald McGahn is a partner there.According to the suit, Jones Day conspired with Schulz to create a misleading picture of the German company’s value. Toward that end, the firm’s lawyers drafted documents including a securities purchase agreement and disclosure statements they knew were false, Precision claims.Bleaker ProjectionsSchulz also failed to disclose documents, including a restructuring analysis performed by KPMG LLP in the fall of 2016 containing financial projections for several of the German company’s operating subsidiaries that were much bleaker than the ones provided to Precision.“Precision was led to believe that the companies it was acquiring were successful, financially strong and on track to meet their projections,” the company said in its complaint. Instead, the Schulz subsidiaries “were in dire financial straits, had retained insolvency advisors and could not satisfy their considerable debt obligations.”About half of Precision’s allegations against Jones Day were redacted from the publicly available version of the lawsuit based on the law firm’s claims that they could reveal privileged attorney-client communications. Precision argues the privilege shouldn’t apply because the information was used to further Schulz’s fraud and because the German company and its lawyers at Jones Day waived any privilege by turning over documents to Precision.Buffett, 90, bought Precision for $37 billion in 2016. The Portland, Oregon-based company makes metal industrial components for jet engines and power plants, as well as pipes for the oil and gas industry.The case is Precision Castparts Corp. v. Jones Day, 2020-59685, Texas District Court, Harris Co. (Houston).(Adds details from complaint)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.
Fastly shares were in free fall in late trading Wednesday after the software company reduced its guidance for the third quarter.
Fastly Inc. shares plummeted more than 25% in after-hours trading Wednesday, after the software company said that its largest customer, TikTok parent Bytedance Inc., did not use its product as much as expected amid a threatened ban in the U.S.
Lawmakers are setting the stock market up for failure soon, says Wall Street pros.
Just as General Electric was starting to recover, the coronavirus crisis slammed GE stock and earnings prospects.
DEEP DIVE Apple has finally rolled out 5G iPhones. This points to a multiyear effort to build actual working 5G networks. You might think the best way to play this trend is to focus on the largest network infrastructure players, but some smaller companies can be very rewarding for investors.
Biden’s policy proposals for small businesses place particular emphasis on “access to capital.”
Moderna advanced its Covld-19 vaccine approval process in Europe with a key ruling by regulators; Vaxart posted good results in hamsters for its pill vaccine; MRNA stock, VXRT stock rose.
Mortgage applications have slowed even as rates have reached another record.
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