Investing for a sustainable future
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Ibrahim Alhusseini, FullCycle CEO, joins The Final Round to discuss how his company pushes investments with an environmentally-friendly focus
And will you even get a payment this time, under the new limits the president agreed to?
To win Senate passage, Biden agreed to make millions ineligible for the third checks.
It's true: Hurrying with your tax return could put your relief money at risk.
Women face challenges working for online platforms, even as they present themselves as a simpler, even better, alternative to more traditional jobs.
Shares of AMC Entertainment Holdings Inc. soared Monday, as the "meme" stock's bounce from last month's plunge continued, after Wedbush analyst Michael Pachter doubled his price target ahead of the company's earnings report, citing an increasing optimism over the post-pandemic environment.
‘If he contributed to any part of the mortgage payments, could he claim he contributed to the (increased) value of the property, asking for money if/when it is sold?’
Shares of GameStop Corp. ran up 10.7% in premarket trading Monday, putting them on track to push the videogame retailer's market capitalization back above $10 billion, after the company said it established a new strategy committee to identify ways to accelerate its transformation. The committee will be chaired by activist investor Ryan Cohen, manager of RC Ventures LLC and co-founder of Chewy Inc. , and will also include Alan Attal and Kurt Wolf. Since the committee was formed, the company has appointed a chief technology officer and hired two executives to lead its e-commerce and customer care functions. GameStop stock has run up 239.3% over the past two weeks, which followed a three-week plunge of 87.5%. That selloff followed a historic surge to a record close of $347.51 on Jan. 27, as the poster child of trading frenzy engineered by Reddit's WallStreetBets forum that targeted heavily shorted stocks. GameStop's stock has hiked up 713.1% over the past three months through Friday, while the S&P 500 has tacked on 3.8%.
The U.S. Senate finally passed a $1.9 trillion COVID-19 relief bill over the weekend and stocks are moving higher at the start of the week. The yield on the 10-year Treasury (BX:TMUBMUSD10Y) up 64 basis points this year through Friday, rose 2 basis points to 1.589% on Monday. After its biggest intraday comeback in a year at the end of last week, the tech-heavy Nasdaq Composite (COMP) fell at the open before recovering to trade 0.4% up.
It could be a sign that an investor is accumulating the high-vote stock, whose dominant holder is CEO Warren Buffett.
Tepper, the founder of Appaloosa Management, has one of the strongest track records among active investors, and his remarks often move markets. A jump in Treasury yields tied to expectations that an aggressive round of fiscal stimulus combined with a broader reopening of the economy will boost inflation has helped fuel a powerful rotation away from highflying growth-oriented stocks, including tech-related names, into more cyclically sensitive stocks and sectors. Tepper said he expected yields to have made the most of their move and would likely be more stable in the next few months, making it “safer to be in stocks for now,” CNBC reported.
(Bloomberg) -- The Chinese yuan erased all its gains against the dollar this year, the latest to fall prey to the Treasury-led global market selloff.The onshore yuan weakened as much as 0.5%, falling past the 6.5283 per dollar level it closed at last year. At its January peak, it was up 1.6% from 2020 as the economy rebounded and investors poured money into the Chinese bond market.Optimism over a global recovery from the pandemic has morphed into concerns that central banks will withdraw stimulus quicker-than-expected, leading to higher bond yields. This latest bout of market selling was spurred by the U.S. stimulus package and better Chinese exports data.“Surging U.S. Treasury yields and a USD rebound are pressuring EM Asia currencies including the renminbi,” said Ken Cheung, chief Asia currency strategist at Mizuho Bank Ltd in Hong Kong. “Foreign investors may have started to trim their emerging-market asset exposure and repatriate capital back into dollars. We turn more cautious on the CNY outlook in the near term.”Monday’s rout across markets picked up pace as Treasury 10-year yields hit 1.61%, nearing Friday’s high. A Bloomberg gauge of the dollar’s strength gained as much as 0.5% to its highest in almost four months.Trading volumes for onshore yuan rose to $48.9 billion on Monday, the highest level in over two months. Some bank clients who were previously hoarding dollars were selling off positions at higher prices, according to China-based traders, who asked not to be identified as they’re not authorized to speak publicly.The traders added they also received a higher volume of requests for forward prices on the greenback, including from clients who had just signed import orders and were looking to lock in foreign-exchange rates to guard against further yuan depreciation risks.China’s main stock benchmark entered a correction on Monday, with concerns over liquidity conditions and lofty valuations in some stocks fueling bearish sentiment.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.
The bill that passed the Senate makes payments harder to get. Your tax return might help.
It’s time to check in with the macro picture, to get an idea of just where markets are headed in the coming months. That’s what a JPMorgan global research team, headed up by Joyce Chang, has been doing. The JPM team starts by noting the sell-off in US Treasury bonds last week, pushing up yields as investors acted in response to inflationary fears. However, the rise in bond yields steadied on Friday, and Chang’s team does not believe that inflation is the great bugaboo it’s made out to be; her team sees a combination of economic growth and fiscal stimulus creating a virtuous circle of consumer spending fueling more growth. They write, “Our global economics team is now forecasting US nominal GDP to average roughly 7% growth over this year and next as targeted measures have been successful in addressing COVID-19 and economic activity is not being jeopardized. Global growth will exceed 5%...” What this means, in JPM’s view, is that the coming year should be good for stocks. Interest rates are likely to remain low, in the firm’s estimation, while inflation should moderate as the economy returns to normal. JPM’s stock analysts have been following the strategy team, and seeking out the stocks they see as winners over the next 12 months. Three of their recent picks make for an interesting lot, with Strong Buy ratings from the analyst community and over 50% upside potential. We’ve used the TipRanks database to pull the details on them. Let’s take a look. On24 (ONTF) The first JPM pick were looking at here is On24, the online streaming service that offers third parties access for scaled and personalized networked events. In other words, On24 makes its streaming service available for other companies to use in setting up interactive features, including webinars, virtual events, and multi-media experiences. The San Francisco-based company boasts a base of more than 1900 corporate users. On24’s customers engage online with more than 4 million professionals every month, for more than 42 million hours every year. As can be imagined, On24 saw a surge of customer interest and business in the past year, as virtual offices and telecommuting situations expanded – and the company has now used that as a base for going public. On24 held its IPO last month, and entered the NYSE on February 3. The opening was a success; 8.56 million shares were put on the market at $77 each, well above the $50 initial pricing. However, shares have taken a beating since, and have dropped by 36%. Nevertheless, JPM’s Sterling Auty thinks the company is well-placed to capitalize on current trends. “The COVID-19 pandemic, we believe, has changed the face of B2B marketing and sales forever. It has forced companies to move most of their sales lead generation into the digital world where On24 is typically viewed as the best webinar/webcast provider.” the 5-star analyst wrote. “Even post-pandemic we expect the marketing motion to be hybrid with digital and in-person being equally important. That should drive further adoption of On24-like solutions, and we expect On24 to capture a material share of that opportunity.” In line with these upbeat comments, Auty initiated coverage of the stock with an Overweight (i.e., Buy) rating, and his $85 price target suggests it has room for 73% upside over the next 12 months. (To watch Auty’s track record, click here.) Sometimes, a company is just so solid and successful that Wall Street’s analysts line up right behind it – and that is the case here. The Strong Buy analyst consensus rating is unanimous, based on 8 Buy-side reviews published since the stock went public just over a month ago. The shares are currently trading for $49.25 and their $74 average price target implies an upside of 50% from that level. (See On24’s stock analysis at TipRanks.) Plug Power, Inc. (PLUG) And moving over to the reusable energy sector, we’ll take a look at a JPM ‘green power’ pick. Plug Power designs and manufactures hydrogen power cells, a technology with a great deal of potential as a possible replacement for traditional batteries. Hydrogen power cells have potential applications in the automotive sector, as power packs for alt-fuel cars, but also in just about any application that involves the storage of energy – home heating, portable electronics, and backup power systems, to name just a few. Over the past year, PLUG shares have seen a tremendous surge, rising over 800%. The stock got an additional boost after Joe Biden’s presidential election win – and his platform promises to encourage ‘Green Energy.” But the stock has pulled back sharply recently, as many over-extended growth names have. Poor 4Q20 results also help explain the recent selloff. Plug reported a deep loss of $1.12 per share, far worse than the 8-cent loss expected, or the 7-cent loss reported in the year-ago quarter. In fact, PLUG has never actually reported positive earnings. This company is supported by the quality of its technology and that tech’s potential for adoption as industry moves toward renewable energy sources – but we aren’t there yet, despite strides in that direction. The share price retreat makes PLUG an attractive proposition, according to JPM analyst Paul Coster. “In the context of the firm's many long-term growth opportunities, we believe the stock is attractively priced at present, ahead of potential positive catalysts, which include additional ‘pedestal’ customer wins, partnerships and JVs that enable the company to enter new geographies and end-market applications quickly and with modest capital commitment,” the analyst said. “At present, PLUG is a story stock, appealing to thematic investors as well as generalists seeking exposure to Renewable Energy growth, and Hydrogen in particular.” Coster’s optimistic comments come with an upgrade to PLUG’s rating - from a Neutral (i.e., Hold) to Overweight (Buy) - and a $65 price target that indicates a possible 55% upside. (To watch Coster’s track record, click here.) Plug Power has plenty of support amongst Coster’s colleagues, too. 13 recent analyst reviews break down to 11 Buys and 1 Hold and Sell, each, all aggregating to a Strong Buy consensus rating. PLUG shares sell for $39.3 and have an average price target of $62.85, which suggests a 60% one-year upside potential. (See Plug’s stock analysis at TipRanks.) Orchard Therapeutics, PLC (ORTX) The last JPM stock pick we’ll look at is Orchard Therapeutics, a biopharma research company focused on the development of gene therapies for the treatment of rare diseases. The company’s goal is to create curative treatments from the genetic modification of blood stem cells – treatments which can reverse the causative factors of the target disease with a single dosing. The company’s pipeline features two drug candidates that have received approval in the EU. The first, OTL-200, is a treatment for Metachromatic leukodystrophy (MLD), a serious metabolic disease leading to losses of sensory, motor, and cognitive functioning. Strimvelis, the second approved drug, is a gammaretroviral vector-based gene therapy, and the first such ex vivo autologous gene therapy to receive approve by the European Medicines Agency. It is a treatment for adenosine deaminase deficiency (ADA-SCID), when the patient has no available related stem cell donor. In addition to these two EU-approved drugs, Orchard has ten other drug candidates in various stages of the pipeline process, from pre-clinical research to early-phase trials. Anupam Rama, another of JPM’s 5-star analysts, took a deep dive into Orchard and was impressed with what he saw. In his coverage of the stock, he notes several key points: “Maturing data across various indications in rare genetic diseases continues to de-risk the broader ex vivo autologous gene therapy platform from both an efficacy / safety perspective… Key opportunities in MLD (including OTL-200 and other drug candidates) have sales potential each in the ~$200-400M range… Importantly, the overall benefit/risk profile of Orchard’s approach is viewed favorably in the eyes of physicians. At current levels, we believe ORTX shares under-reflect the risk-adjusted potential of the pipeline...” The high sales potential here leads Rama to rate the stock as Outperform (Buy) and to set a $15 price target, implying a robust 122% upside potential in the next 12 months. (To watch Rama’s track record, click here.) Wall Street generally is in clear agreement with JPM on this one, too. ORTX shares have 6 Buy reviews, for a unanimous Strong Buy analyst consensus rating, and the $15.17 average price target suggests a 124% upside from the current $6.76 trading price. (See Orchard’s stock analysis at 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.
“These transactions are not anonymous,” the IRS' national fraud counsel said. “We see you.”
(Bloomberg) -- Investors looking for a more definitive signal of what the European Central Bank really thinks about the latest bond selloff are likely to get one in the coming week.Data on the central bank’s debt purchases are due on Monday and will cover the week through March 5, when a global rout in bonds hit fever pitch. While several ECB Governing Council members have attempted to soothe nerves over the recent rise in yields, the institution’s bond-buying program hasn’t shown an acceleration to match.Adding to the unease among investors is the near-silence on the topic from President Christine Lagarde. While ECB Executive Board member Fabio Panetta showed that there is some concern when he said the current rise in yields is “undesirable” and “must be resisted,” some of his colleagues have been notably more sanguine. Markets probably won’t get another vocal steer until after Thursday’s rate decision, as policy makers have now entered a quiet period.“It’s all very well, voicing dissatisfaction,” Richard McGuire, head of rates strategy at Rabobank, said of ECB officials’ comments. “But the markets appear to be, given the limited response to this concerted rhetorical campaign, looking for the ECB to put its money where its mouth is.”No MatchThe most recent data on the ECB’s pandemic bond-buying program showed it settled 16.9 billion euros ($20.1 billion) of purchases in the week through Feb. 26, the least in four weeks. The net amount was even lower at 12 billion euros because of large redemptions, despite the fact that the ECB would have known those redemptions were coming.The peak of the selloff arrived two days later, with yields on Treasuries and European debt hitting levels last seen during the March 2020 turmoil.Louis Harreau, a strategist at Credit Agricole, called the PEPP purchase amount “ridiculous.”“I grew up with the motto ‘don’t fight the ECB’ and it is like today, the market is fighting the ECB,” Harreau added.German yields have been pulled higher by their U.S. and U.K. counterparts which are far ahead in the vaccine race, suggesting investors might be getting ahead of the continent’s lagging recovery.Italian 10-year bond yields doubled off a record low to 0.84% in the second half of February. Their premium over German peers, a key gauge of risk in the region, is 17 basis points above a six-year low set on Feb. 12.Bond TalkWhile investors have heard a lot from ECB officials in the past week, they’ve been pulled in varying directions.A day after Panetta’s remarks, Vice President Luis de Guindos said bond spreads are “very calm,” and Bundesbank President Jens Weidmann said the rise in yields is “not such that this is a particularly worrisome development.”Those remarks are in line with the broad view of Governing Council members, according to officials familiar with internal discussions, who say policy makers believe they can manage the risk from rising yields with verbal interventions -- including a pledge to act if needed.Closely MonitoringLagarde last commented directly on bond markets on Feb. 22, saying the central bank is “closely monitoring” nominal bond yields. In a pre-recorded speech to German business last week, she simply reiterated the ECB’s standard line that it won’t let financing conditions tighten prematurely.That stance is arguably reminiscent of a year ago, when the president sent Italian bonds into a tailspin by saying the ECB’s job isn’t to rein in yield spreads.Now, bond investors are waiting for bond-buying to match the Governing Council’s rhetoric. Frederik Ducrozet, global strategist at Banque Pictet & Cie, expects Monday’s data to show that the pace of weekly net purchases rose above 20 billion euros.“It is only fair to expect the Executive Board to walk the talk by temporarily increasing the pace of PEPP purchases,” Ducrozet said.This WeekBond sales from Germany, Italy, Netherlands and Portugal are expected to halve next week to 15.5 billion euros, according to Commerzbank AG.Germany pays 13 billion euros of redemptions and Ireland pays small coupons next weekThe U.K. will offer just over 2 billion pounds of 10-year gilts and 20-year inflation-linked debt next week; the BOE will buy back 4.4 billion pounds of debt across three operationsData for the coming week are mostly relegated to second-tier, backward-looking figures; January industrial production numbers are due from Germany on Monday and the euro-area on FridayLagarde speaks at the press conference following the monetary decision on ThursdayInvestors will be looking for BOE Governor Andrew Bailey’s views on the budget when he gives a speech on the economic outlook on MondayDBRS Ltd. reviews Belgium and Moody’s Investors Service reviews Ireland on FridayFor 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.
Class-action suits contend that insurers have been unfairly profiting from emptier roads.
ARK Investment founder Cathie Wood says her new Tesla price target is coming soon. What will it be? Barron's hazards a back-of-the-envelope guess.
The brutal sell-off in EV stocks like Tesla Inc (NASDAQ: TSLA) and Nio Inc (NYSE: NIO) is a “buckle the seat belts” buy opportunity, according to Wedbush analyst Daniel Ives. The analyst noted that the white knuckles across the sector had been focused on Chinese EV players like Xpeng Inc (NYSE: XPEV), Nio, and Li Auto, Inc (NASDAQ: LI) along with battery plays such as QuantumScape Corp (NYSE: QS). The Party’s On: Ives said in a note on Friday that the “EV party is just beginning” in a response to a question from investors who want to know if the rally in EV stocks is over. “Our answer is emphatically that the EV party and transformation is just beginning as this industry is on the cusp of a $5 trillion market opportunity over the next decade.” See also: How to Invest in Tesla Stock Ives pointed out that EV penetration is only 3% today on a worldwide basis and he believes it is going to reach 10% by 2025 with “a green tidal wave on the horizon.” Massive Buying Opportunity: The recent sell-off in EV stocks is a “massive buying opportunity” to own both Chinese EV players as well as pack leader Tesla, as per Ives. “While the stocks and the EV space is clearly going through a digestion period, we view this as a short-term pullback in a multi-year upward rally.” A Bigger Landscape: The analyst said that the EV landscape is bigger than just automakers. Over the next years, Wall Street can expect an “enormous ecosystem” of EV battery players, green-driven EV recycle pure plays, and supercharger infrastructure vendors. Biden-driven Green Wave: Ives said that there are many pure-play and innovative EV players on both the commercial and consumer front ready to take advantage of the domestic wave in EVs driven by the Biden administration’s policies. He expects tax credits and incentives surrounding EVs to ramp up significantly in the coming months. Big Players Diving Deep: General Motors Company (NYSE: GM), Volkswagen AG (OTC: VWAGY), and Ford Motor Company (NYSE: F) are all “jumping into the deep end of the pool on EVs,” as per Ives. This is a testament to the pent-up demand globally around EV technology. Ives specifically pointed out to Volkswagen which said on Friday that 70% of its European sales will be EVs by 2030, which is double its previous target of 35%. Related Link: Tesla Should Sell Its Bitcoin and Buy Back Shares To Create 'Positive Momentum,' Says Analyst Click here to check out Benzinga’s EV Hub for the latest electric vehicles news. See more from BenzingaClick here for options trades from BenzingaWhy Enjin Coin Is Trading 39% Higher Today'Morons,' Banksy's Art Work Burned In Real Life, Sells For 4,000 As A Non-Fungible Token© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Oil futures pull back Monday after prices for the global benchmark Brent crude climbed past $70 a barrel in the wake of an attack on Saudi oil facilities over the weekend.
Publicly traded companies outside the U.S. are now following Tesla and Microstrategy in buying cryptocurrencies.