Microsoft is changing its Office icons to highlight major changes coming to the software suite.
Microsoft is changing its Office icons to highlight major changes coming to the software suite.
The initial five-year agreement implies that Piedmont will supply about a third of its planned 160,000-tonnes-per-year spodumene concentrate produce from its deposits in North Carolina. The deal comes on the heels of Tesla's "Battery Day" presentation last week when Chief Executive Elon Musk shared his vision of novel, proprietary Tesla batteries, following which Tesla stock lost more than $30 billion in market value. Piedmont said in a statement that the agreement marked the beginning of the its first U.S. domestic lithium supply chain and that talks are ongoing over other sales arrangements.
The company announced in a statement that CEO, Edward Lampert, would step down, with day-to-day operations managed by three high-ranking executives. Where is Sears Today? A bankruptcy judge approved the sale of the company's assets for $5.2 billion to Lampert in a bankruptcy auction.
(Bloomberg) -- Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 6.6% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to a military end use,” the department’s Bureau of Industry and Security wrote.Read more: U.S. Imposes Restrictions on Exports to China’s Top ChipmakerThe U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as those imposed on China’s Huawei Technologies Co. Still, the ruling against the chipmaker marks a further escalation in the tensions between the world’s two most powerful countries that have already ensnared other Chinese tech companies including ByteDance Ltd. and Tencent Holdings Ltd.“The restriction, once implemented, will severely damage SMIC’s existing and future manufacturing capabilities, and customer trust,” Bernstein analysts led by Mark Li wrote in a note. “Without steady supply and service from the U.S., the yield and quality of SMIC’s capacity will degrade, as early as in a few months for more advanced nodes.”SMIC has not received an official notice of the sanctions, has no relationship with the Chinese armed forces and does not manufacture goods for any military end-users or uses, the Shanghai-based company said in an emailed statement over the weekend. The Chinese Foreign Ministry in Beijing didn’t immediate respond Monday to a request for comment on the latest U.S. export restrictions.The SMIC ruling was a compromise between the Departments of Defense and Commerce and moderates in the Trump administration, according to one person familiar with the negotiations. The U.S. has reportedly said it was mulling a more severe blacklisting on SMIC -- akin to the ones imposed on Huawei -- that would affect exports from a broader set of companies.“If SMIC is not included in the Entity List, this could merely be confirmation of the rule change announced on April 27 for ‘civilian end-users’ in U.S.-unfriendly countries,” Jefferies analyst Edison Lee wrote in a note. “Instead of a blanket ban, the U.S. will have sole discretion on what U.S. companies can sell to SMIC.” The brokerage had previously estimated that as much as 50% of SMIC’s equipment is from the U.S.A formal statement that includes details of the restriction may be released by the U.S. Commerce Department Monday, Citigroup said. There will be a comment period of 30 days before the ruling takes effect, with semiconductor equipment companies and industry groups expected to push back against the restrictions, analysts including Atif Malik wrote in a note.The news lifted shares of SMIC’s rivals, with United Microelectronics Corp. surging by the 10% daily limit in Taipei. Taiwanese chipmakers Vanguard International Semiconductor Corp. and Macronix International Co. rallied more than 9%, while Taiwan Semiconductor Manufacturing Co. climbed 1.4%.Even though SMIC shares have more than halved from the record high set in July, some investors are recommending caution because the U.S. measures may derail its efforts to catch up to TSMC, the world’s largest contract chipmaker. SMIC is still up 47% for the year, outpacing the 30% gain in TSMC, but the Shanghai-based firm’s revenue and profit amount to roughly 10% and 3%, respectively, of its Taiwanese rival. For the current quarter, industry researcher TrendForce estimates that TSMC controls 54% of the foundry market, versus SMIC’s 4.5% market share.“SMIC’s valuations have reached relatively reasonable levels following the recent decline, but the long-term outlook is unclear. If the U.S. imposes restrictions against the company, especially on some key equipment that can only be supplied there, there will be a very big impact on the company,” said Qi He, a fund manager at Huatai-Pinebridge Fund Management Co. “We will mainly adopt a wait-and-see approach, until there is a resolution to the U.S. situation.”(Updates with shares of competitors, investor comment from ninth 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.
Nikola Corporation's founder Trevor Milton purchased the original design for the company's flagship truck from a Croatia-based designer, the Financial Times reported https://on.ft.com/3mWv2s7 on Saturday, citing people with knowledge of the matter. Nikola One, the company's flagship hydrogen-powered truck truck, is at the centre of a design patent infringements lawsuit that Nikola filed against Tesla Inc in 2018. Nikola claimed, Tesla's Semi, its first electric heavy duty truck, is "substantially" similar to Nikola's design.
A stock market rally attempt is underway, but game plan for bearish or bullish action. Alibaba, Nvidia and Target are stocks to watch.
Baird analyst Peter Benedict, in a research note, said the chances of discount retailer Costco paying a special dividend “seem to be rising.”
PepsiCo, Constellation Brands, and Micron Technology report earnings this week. Plus, September jobs data and the first presidential debate.
Markets are volatile this month, with the magnitude of the shifts most pronounced in the tech-heavy NASDAQ. That index fell 7.5% from its peak – reached on September 2 – a slide pronounced enough to have investors questioning whether this is just a correction, or a true reversal of the bull market we saw through the summer. But in recent sessions, the index has been gaining; it entered the weekend on a high note, having added 2.3%. The fast rise in the NASDAQ during the summer was no fluke. It was based on the real contributions that tech companies are making to the economy and our lives. From the 5G rollout, to improvements in semiconductor chips, to the expansion of IoT and smart device capabilities – tech is everywhere, and it’s growing fast. The best part is, you don’t need to buy into the tech giants to take part. There are plenty of lower cost tech stocks out there with clear paths forward – sometimes, even paths to triple-digit share appreciation. Investment banking firm Needham, which earns a top spot on TipRanks' list of Top Performing Research Firms, has pointed out two such stocks. Using TipRanks’ Stock Comparison tool, we were able to evaluate these stock picks alongside each other to get a sense of what the analyst community has to say.Applied Optoelectronics (AAOI)Applied Optoelectronics is a leader in the fiber-optic cable market, providing high-end networking cables and ancillary equipment for the telecommunications, fiber-to-the-home, cable tv, and internet data center markets. These are major markets, with varying needs – and plenty of demand.AO’s revenues reflect the high demand. The company reported $65.2 million in Q2, up 61% from the previous quarter and 50% year-over-year. Margins have been fluctuating, but came in at 21% for Q2. The company showed a 40-cent per share net loss for the quarter, but that was a 33% improvement sequentially.Alex Henderson, a 5-star analyst with Needham, is impressed with Applied Optoelectronics’ results, and says so bluntly. While acknowledging some concern about margins, Henderson writes, “AOI posted a huge beat and an even bigger 3Q guide with trends that appears to be accelerating into the fourth quarter and into CY21. The CATV business, Telecom 5G chips, and Data Center 100G products all delivered way ahead of expectations… The combination of improved volumes of 100G, ramping CPRI 25G chip sales, rebounding CATV Revenues provide upside potential to Revenues, improving Gross Margins and a clearer path to Cash Flow and EPS profitability."With such bullish comments, it’s no wonder that Henderson rates AAOI shares a Buy, nor that his $22 price target implies a 105% upside for the next 12 months. (To watch Henderson’s track record, click here)While Henderson is bullish, Wall Street is more cautious. The analyst consensus rating on AAOI is a Hold, based on 7 recent reviews breaking down to 1 Buy, 4 Holds, and 2 Sells. Shares are selling for $10.73 and the average price target of $16.43 suggests a 55% one-year upside potential. (See AAOI stock analysis on TipRanks)Viomi Technology Company (VIOT)Next up is a Chinese tech firm, Viomi. This is a holding company, controlling a network of holding companies in the IoT sector. Viomi’s products include ‘smart home’ enabled devices, from fans and refrigerators to water heaters and washing machines. The company’s subsidiaries develop and market the devices to a domestic Chinese customer base – and with an urban population of 831 million and growing in size and wealth, that customer base is huge.Like most countries, China saw an economic slowdown in 1H20 due to the coronavirus pandemic. Viomi, whose revenues and earnings had been increasing in 2019, saw both slip in the first half of this year. In Q2, revenues were at US$238.4 million. That was way down from the $1.74 billion recorded in 4Q19. EPS, which fell from 20 cents to 6 cents in Q1, was up slightly to 8 cents in Q2.Even though the financial results were iffy, Viomi reported that customer growth remained steady. For the second quarter, the company reported cumulative household reach at 4.2 million. This was up from 3.7 million in Q1, and 2.3 million in 2Q19. And, Viomi is seeing repeat customers – the company reports that 19% of household users have at least two connected devices, compared to 16% one year ago.Reviewing Viomi for Needham, analyst Vincent Yu believes the company has a fairly standard pathway to retailer success.“With the introduction of new product lines such as smart TVs, and air conditioners, we believe Viomi has hit a milestone in terms of category expansion. We expect to see the introduction of new SKUs with higher ASPs, and roll-backs in discounts for newly launched product categories,” the analyst opined. "We think Viomi's gross margin was in-line with industry trends during 1H20. The home appliance industry as a whole experienced a material headwind due to Covid 19 [...] We believe the demand recovery for the industry and consumer demand that started in June will boost the gross margin in 2H20."Yu’s Buy rating here comes with a price target of $12.50. This suggests a 117% one-year upside potential for the stock, which is currently selling for $5.76 per share. (To watch Yu’s track record, click here)Overall, Viomi is considered a “Moderate Buy” on Wall Street, with one Buy and one Hold rating from analysts. The consensus price target of $9.40 shows a 63% upside from current levels. (See VIOT stock analysis on TipRanks)To find good tech 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.
President Donald Trump paid just $750 in federal income taxes the year he ran for president and in his first year in the White House, according to a report Sunday in The New York Times. Trump, who has fiercely guarded his tax filings and is the only president in modern times not to make them public, paid no federal income taxes in 10 of the past 15 years. The details of the tax filings complicate Trump’s description of himself as a shrewd and patriotic businessman, revealing instead a series of financial losses and income from abroad that could come into conflict with his responsibilities as president.
Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each week that look bearish. 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. Perrigo Co. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
(Bloomberg) -- HSBC Holdings Plc rose the most in Hong Kong trading since 2009, recovering from a 25-year low, as its biggest shareholder raised its stake in a bet the embattled lender will return to paying dividends.Ping An Insurance Group Co., which last week bought 10.8 million shares to boost its stake to 8%, remains confident in HSBC’s long-term prospects, a spokesperson said. The recent slump in the share price and valuation only increases HSBC’s appeal, the spokesperson said. “Ping An believes HSBC’s suspension of dividend payments is a short-term issue and has been actively communicating with the lender about the possibility of restoring dividends in the future,” the spokesperson said.HSBC shares on Monday rose as much as 8.5%, the biggest intraday gain since April 2009, clawing back some of last week’s 8.9% loss. They were up 7.8% to HK$30.40 as of noon in Hong Kong.The bank had plunged to 25-year low in part on speculation a massive bet on China could be thwarted. The ruling Communist Party’s Global Times newspaper reported that the bank could be put on an “unreliable entity” list that aims to punish firms, organizations or individuals that damage national security. It has rankled China over its participation in the U.S. investigation of Huawei Technologies Co.At the behest of U.K. regulators, the bank suspended its dividend payments earlier this year.“Ping An’s investment is giving a little reason for the gain today, but HSBC’s problems are still there,” Steven Leung, an executive director of Uob Kay Hian (Hong Kong) Ltd., said by phone. “The overall environment is still challenging as interest rates are low and there’s no visibility when HSBC will be able to distribute dividends again, as well as the tensions between China and the U.S.”HSBC was also among global banks named in a report by the International Consortium of Investigative Journalists on lenders that “kept profiting from powerful and dangerous players” in the past two decades even after the U.S. imposed penalties on the institutions.Facing difficulties in navigating low interest rates and surging loan losses sparked by the global pandemic, the bank’s profit halved in the first half. HSBC Chief Executive Officer Noel Quinn last month warned bad loans could swell to $13 billion this year. Quinn said the bank would attempt to hasten a shakeup of its global operations, accelerating a further pivot into Asia as its European operations lose money.In response to the ICIJ report last week, the bank said that “starting in 2012, HSBC embarked on a multi-year journey to overhaul its ability to combat financial crime across more than 60 jurisdictions. HSBC is a much safer institution than it was in 2012.”(Updates with comments from Ping An.)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.
(Bloomberg) -- Siemens AG is about to let investors make pure-play bets on a company whose technology is behind roughly one-sixth of the world’s electricity.Monday’s listing of Siemens Energy AG marks the next step in the unwinding of a German conglomerate making a vast array of goods that spans medical scanners, locomotives and gas turbines into separate companies better suited to confront their own unique challenges.There will be no shortage of hindrances ahead for the extraction, processing, and transportation of oil and gas, as well as the generation, transmission and distribution of power and heat that Siemens Energy handles. Efforts to curb power-plant emissions are likely to constrain the company’s longer-term prospects.“Siemens Energy’s spinoff showcases a gas-turbine technology whose growth has been stunted by climate change, though gas should remain a key energy source,” Johnson Imode, an industry analyst for Bloomberg Intelligence, wrote in a Sept. 23 report. He estimates Siemens Energy may be worth about 20 billion euros ($23 billion) based on its guidance for earnings next year.The listing is one of the last moves under Chief Executive Officer Josef Kaeser to turn one of Europe’s largest industrial manufacturers into a more manageable entity. The 63-year-old’s spinoff of its medical business, Siemens Healthineers AG, was Germany’s biggest initial public offering of the past four years.Siemens Energy will own a majority stake in separately listed wind-power company Siemens Gamesa Renewable Energy SA, and last year generated revenue of 28.8 billion euros with 91,000 employees.Siemens handed 55% of Siemens Energy shares to its shareholders, and the parent has said it will further reduce its stake within 12 to 18 months, which could reignite interest in consolidation, according to BI’s Imode.Before deciding on a spinoff, Siemens mulled other options for the business. Bloomberg News reported last year that Mitsubishi Heavy Industries Ltd. held talks with the company about a possible gas-turbine business combination, and that Siemens had discussions with other firms about a full or partial sale of its division.Siemens still holds 79% of Siemens Healthineers stock, which has been among the more successful recent listings in Germany. A plan to combine Siemens’s railway business with Alstom of France, however, was vetoed by the European Commission.Kaeser will leave the carrying out of one more spinoff to his successor, Roland Busch, who will take over most CEO responsibilities later this week. In February, the company will present shareholders with its plan to offload its Flender GmbH unit that makes mechanical drives in what will be a company with about 2 billion euros in sales and 8,500 employees.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.
The fall is so substantial that you'd think we might be nearing bargain territory. More likely, mean reversion has just begun, and it has a long way to go.
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?
ServiceNow has rebounded from key support. So have Adobe, Nvidia, Qualcomm and Veeva Systems as a stock market rally attempt gets underway.
The stock market is a never-ending marvel. It has captured my interest since I was ten years of age when my late Uncle Sydney showed me how to read the Wall Street Journal. The U.S. stock market has been in a secular uptrend since the end of 2008/beginning of 2009.
In July the internet went nuts when Jeff Bezos, CEO of Amazon, made $13 billion in one day, according to Bloomberg. Indeed, American billionaires saw their wealth increase by $434 billion during the two months between mid-March and mid-May when nearly 30 million Americans lost their jobs in the wake of the COVID-19 pandemic. Bezos owns more than 50 million Amazon shares, a bit more than 10% of the company’s outstanding stock.
Gold miners have been hammered in recent weeks, and if prices for the precious metal do not rebound, they could be set to fall further
Fossil fuel divestment is going to make the current oil price crash different to anything that has gone before it, and put the power in the hands of national oil companies