The Lightstrike UV robot by Xenex can disinfect 99.99% of the coronavirus strain in two minutes. The robot has been deployed in over 700 hospitals worldwide and is being used in the stadium of the Carolina Panthers.
The Lightstrike UV robot by Xenex can disinfect 99.99% of the coronavirus strain in two minutes. The robot has been deployed in over 700 hospitals worldwide and is being used in the stadium of the Carolina Panthers.
Chipmaker Advanced Micro Devices has bright prospects in its core businesses and from its pending acquisition of Xilinx, a Wall Street analyst said. AMD stock is approaching a buy point.
From escalating tensions between the U.S. and China, the highly infectious coronavirus pandemic outbreak, and the 2020 presidential Election, this year has turned into a rollercoaster ride for investors. Forced lockdowns weighed down industries like the oil & gas sector, retail businesses, theatre, and entertainment companies, but spurred an uptick in technology stocks.With Pfizer Inc. (NYSE: PFE) and Moderna Inc. (NASDAQ: MRNA) reporting high efficacy for their COVID-19 vaccines but the number of new virus cases getting reported remaining high, the analysts are expecting a change in market behavior as the world moves to what they describe as a post-COVID-19 world.CNBC compiled a list of five stocks with an upside potential based on opinions from leading Wall Steet analysts. Here's a peek into these stocks and the key factors influencing the analyst forecasts.Amazon: The pandemic might have shrunk the global economy, however, Jeff Bezos' Amazon Inc (NASDAQ: AMZN) rose to cross the $1.5 trillion market cap. The e-commerce company's stock peaked at a 52-week high price of $3,552.25 in early September.Amazon stock grew approximately 63% on a year-to-date basis and close to 91% since March when the signs of a pandemic became evident.Last week, Needham analyst Laura Martin rated Amazon as a buy -- setting a price target of $3,700, according to TipRanks. Based on Martin's survey results of a select number of Amazon customers, CNBC reported that 80% of the survey participants would stick to their online shopping trends even during the post-pandemic era.In the Q3 earnings release in October, Amazon reported $96.1 billion in revenue at a 37% growth rate year-over-year. Amazon last quoted $3,099.40, 0.57% lower, on Friday.Bentley Systems: RBC Capital analyst Matthew Hedberg revised software company Bentley Systems Inc (NASDAQ: BSY) as a "Buy" stock last week, with a price target of $43, CNBC reports. "Overall, we think a vaccine could benefit Bentley, and a Biden presidency could boost U.S. infrastructure spending," Hedberg commented.The forecasts were based on the company's earnings beat in its first release since the trading debut in September. In Q3, Bentley's $203 million quarterly revenues recorded a growth rate of 8.8% YoY with an 11% YoY growth in recurring revenues for the trailing 12-month period.The company, on Nov. 12, announced plans to issue 10 million shares at $32 per share and use the proceeds to pay off the outstanding balances of credit facilities. From $25.18 on Sept. 22, the stock has gained 41% and was last seen trading at $35.55, 1.22% higher.PDF Solutions: San Jose-based software and engineering services company PDF Solutions Inc (NASDAQ: PDFS) received a Buy rating from the Northland Capital analyst Gus Richard after the news of the $35 million Cimetrix acquisition broke out, as per the CNBC report. Richard raised the stock's price target to $30, last seen quoting $21.28.Richard says that "PDFS/ Cimetrix together can allow equipment suppliers to collect operational data from equipment and use PDFS big data analytics platform and AI to analyze equipment operational, performance, and process control data", as reported by CNBC.Accounting for the acquisition impact in the post-pandemic economy, Richard also anticipates that CY21 earnings could gain between $0.02 and $0.04 per share.Cytokinetics: At the end of Friday's trading session, Cytokinetics, Inc. (NASDAQ: CYTK) was trading at $15.99, 0.95% higher. H.C. Wainright & Co analyst Joseph Pantginis predicts that the biopharma company's stock holds a 180% upside potential, with an estimated price target of $43.The analyst's forecasts are pinned on the success of omecamtiv mecarbil, the company's treatment for heart failures."While a deeper analysis is yet to be conducted and more details are needed to clarify omecamtiv's real opportunity in HF, we believe these findings suggest a possible path forward for omecamtiv's approval based on its applicability for the treatment of a defined, significant, population," Pantginis said, as per CNBC.Yelp: Yelp Inc (NYSE: YELP), the San-Francisco headquartered online review company, has lost around 7% year-to-date. But, since March 18, when the lockdown measures began to kick in, the stock has rallied upwards by 123%.RBC Capital analyst Shweta Khajuria's analysis of the stock's performance is based on the economic revival in the post-pandemic era. Linking the vaccine availability and distribution with the economic revival, the RBC Capital Analyst opines that shopping centers, restaurants and bars, and other retail outlets would witness an increase in footfalls."Management expects Yelp to drive greater benefits from the improvement in its value proposition to advertisers, both perceived and actual to take a greater share of Advertiser budgets," CNBC quoted Khajuria as saying.On Friday's close, Yelp had a market cap close to $2.4 billion and was trading at $32.22, 1.19% higher.Latest Ratings for PFE DateFirmActionFromTo Nov 2020Goldman SachsReinstatesNeutral Nov 2020BernsteinInitiates Coverage OnMarket Perform Oct 2020SVB LeerinkMaintainsMarket Perform View More Analyst Ratings for PFE View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Pfizer, Moderna COVID-19 Vaccines Could Get Limited EU Approval Before Year-End: Report * Sinovac COVID-19 Vaccine Trial Halted In Brazil Over Adverse Event(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Larry Summers is “skeptical” about general loan cancellation being discussed amid President-elect Joe Biden’s transition to office, arguing that debt forgiveness would benefit "well-off" borrowers most.
Jim Cramer shares insights about buying General Electric, Arcturus vaccine, and Roblox filing to go public.
Elizabeth Holmes, the former CEO of Theranos, wants to block information on her previous income and "luxurious" spending from being revealed in court, CNBC has reported.What Happened: Holmes' defense attorneys filed a motion to exclude reports showing her earnings and spending, because they might turn the jury against the defendant."The jury should not be subjected to arguments regarding Ms. Holmes' alleged purchase of luxury travel, 'fine wine,' or 'food delivery to her home,'" CNBC quoted the defense team saying in their motion."Many CEOs live in luxurious housing, buy expensive (vehicles) and clothing, travel luxuriously and associate with famous people -- as the government claims Ms. Holmes did."Holmes had a private jet and several assistants for "running her errands," according to CNBC.Why It Matters: Holmes is facing dozens of felony fraud charges and up to 20 years in prison.She and her partner Ramesh Balwan, a former president and chief operating officer at Theranos, told investors, board members and the general public that the company's products in development would be able to diagnose any disease, including cancer and diabetes, from just one drop of blood.Privately valued at one point at $9 billion, the startup was exposed by a Wall Street Journal investigation and ensuing public scrutiny that revealed the technology was nonexistent.The trial is scheduled to begin on March 9, 2021, in San Jose.Image: WikicommonsSee more from Benzinga * Click here for options trades from Benzinga * Wish Files For IPO, Acknowledges Challenges In Its China-Rooted Supply Chain * Apple Is Trying To 'Water Down' Bill Against Forced Labor In China: Washington Post(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Its market capitalization is a modest $932 million, and last year it reported barely selling any electric cars. It has been a bumpy ride, The stock nearly doubled in the first four days of the past week, after an announcement from the Texas Commission on Environmental Quality that two models that Kandi plans to launch in the U.S. qualify for tax rebates. Then, on Friday morning, the shares plunged more than 20% after the company said it would raise $100 million through a private placement of stock—the second market-jolting placement in two weeks.
President-elect Biden and other leaders say a new COVID relief deal is needed urgently.
The Dow Jones Industrial Average jumped 300 points on coronavirus vaccine news Monday. Nio and Tesla advanced sharply higher.
Shares of DPW Holdings Inc. soared 40.9% on heavy volume in morning trading Monday, after the investor in disruptive technologies said its Coolisys Technologies Corp. subsidiary established a program to get its electric vehicle (EV) chargers into national fast-food restaurants. Trading volume jumped to 20.2 million shares, compared with the full-day average of about 2.6 million shares. DPW said it expects the program to allow owners of fast-food franchises to install the ACECool EV chargers and share in the revenue from advertising and network usage. Coolisys expects to launch the program in California, Nevada and Canada, with the unveiling of "a national fast-food network" partner, that forms a part of the network with over 1,000 locations. Other partners are expected to be announced in the first quarter of 2021. " We look forward to the potential changes coming from increased demand for EVs and the recent trends related to government support of the electrification of transport," said Coolisys Chief Executive Amos Kohn. DPW's stock has run up 54.6% over the past three months, while shares of rival EV charger company Blink Charging Co. has rocketed 291.2% and the S&P 500 has gained 5.4%.
Chinese electric-vehicle maker NIO Limited (NIO) surprised the market last week with a Q3 earnings report featuring stronger than expected $667 million in sales and a smaller than expected $154 million loss. One analyst who was not entirely pleased with the results, however, was Deutsche Bank's Edison Yu.Yu called Nio's revenue numbers only "in-line" and criticized Nio for producing "lower-than-expected gross margin." Despite this, Yu reiterated his "buy" rating on Nio, and raised his price target nearly 50% to $50 as well. Why?Two words: The future.Yu observes that Nio's Q3 2020 gross profit margin was only 12.9%, and not the 14.9% that he had hoped for, "mainly due to an absence of regulatory credits, which we thought would be realized during the quarter but instead will flow entirely into 4Q." That's not necessarily a deal-breaker, though, because Yu still does think those improvements in profitability are coming -- just three months later than planned. Nio guided investors to expect a 1% to 1.5% improvement in gross margins in Q4, versus Q3, from its own efforts. This still doesn't get the company all the way to "14.9%," granted. But when you factor in an anticipated $120 million in delayed "regulatory credits" from the government, and add those to the mix, Yu thinks the company's total gross profit margin in Q4 could approach 20%.Indeed, Yu seems to be banking on a lot of good news in the near future, and the longer-term future as well.Heading towards the Chinese New Year, Yu says investors can expect "robust monthly delivery volume" driven by demand for Nio's new EC6 electric SUV and the company's 100 kWh battery option. Nio is forecasting Q4 sales "materially ahead of our/consensus estimates," says the analyst, with anywhere from 16,500 to 17,000 cars expected to be delivered in the quarter, versus Yu's guess at 15,000 units, and with revenue similarly higher than predicted.Production capacity is ramping faster than expected as well, with Nio reaching perhaps 7,500 cars produced per month by January. As the company continues to scale in size, Yu is looking to see Nio produce and deliver as many as 92,500 cars in 2021, while improving its gross margin even past what he expects to see in Q4 -- to greater than 20%. Despite this, the analyst expects Nio to lose money next year -- $1.20 per share's-worth -- just as it will lose money this year.So why does Yu still like Nio, despite the continued losses? In a nutshell, because he expects Nio to grow into its valuation over time. Sales in 2022, for example, could be up as much as 40% over 2021 figures, justifying (in Yu's view) a valuation of 10 times 2022 sales.Ultimately, Yu predicts that Nio will emerge as "a major winner in the China auto market by the middle of the decade," and he therefore calls Nio "a must-own stock for growth-oriented and ESG investors." (To watch Yu's track record, click here)Overall, based on 6 Buys and 3 Holds, the analyst consensus rates NIO a Moderate Buy. However, as a result of NIO's meteoric rise, the average price target, which comes in at $42.93, implies shares could decline by nearly 13% from current levels. (See NIO 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.
“Throwing everything you can at your retirement account is not necessarily the best strategy for people following FIRE,” says certified financial planner Victor Gersten.
Shares of Tesla Inc. rallied into record territory Monday, after Wedbush analyst Dan Ives boosted his base-case price target, and said he envisions a scenario in which the electric vehicle market leader's stock reaches $1,000.
London-based Arrival is the latest electric vehicle start-up set to enter the public markets as the landscape of EV companies grows.
It's been a rough year for S&P 500 profit. But the worst appears to be over for many — and about to boom at some.
(Bloomberg) -- Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. standards and sophisticated enough to turn a wide range of crude oils into high-value fuels. Yet Shell, the world’s third-biggest oil major, wanted to radically reduce refining capacity and couldn’t find a buyer.As Convent’s 700 workers found out they were out of a job, their counterparts on the other side of Pacific were firing up a new unit at Rongsheng Petrochemical’s giant Zhejiang complex in northeast China. It’s just one of at least four projects underway in the country, totaling 1.2 million barrels a day of crude-processing capacity, equivalent to the U.K.’s entire fleet.The Covid crisis has hastened a seismic shift in the global refining industry as demand for plastics and fuels grows in China and the rest of Asia, where economies are quickly rebounding from the pandemic. In contrast, refineries in the U.S and Europe are grappling with a deeper economic crisis while the transition away from fossil fuels dims the long-term outlook for oil demand.America has been top of the refining pack since the start of the oil age in the mid-nineteenth century, but China will dethrone the U.S. as early as next year, according to the International Energy Agency. In 1967, the year Convent opened, the U.S. had 35 times the refining capacity of China.The rise of China’s refining industry, combined with several large new plants in India and the Middle East, is reverberating through the global energy system. Oil exporters are selling more crude to Asia and less to long-standing customers in North America and Europe. And as they add capacity, China’s refiners are becoming a growing force in international markets for gasoline, diesel and other fuels. That’s even putting pressure on older plants in other parts of Asia: Shell also announced this month that they will halve capacity at their Singapore refinery.There are parallels with China’s growing dominance of the global steel industry in the early part of this century, when China built a clutch of massive, modern mills. Designed to meet burgeoning domestic demand, they also made China a force in the export market, squeezing higher-cost producers in Europe, North America and other parts of Asia and forcing the closure of older, inefficient plants.“China is going to put another million barrels a day or more on the table in the next few years,” Steve Sawyer, director of refining at industry consultant Facts Global Energy, or FGE, said in an interview. “China will overtake the U.S. probably in the next year or two.”Asia RisingBut while capacity will rise is China, India and the Middle East, oil demand may take years to fully recover from the damage inflicted by the coronavirus. That will push a few million barrels a day more of refining capacity out of business, on top of a record 1.7 million barrels a day of processing capacity already mothballed this year. More than half of these closures have been in the U.S., according to the IEA.About two thirds of European refiners aren’t making enough money in fuel production to cover their costs, said Hedi Grati, head of Europe-CIS refining research at IHS Markit. Europe still needs to reduce its daily processing capacity by a further 1.7 million barrels in five years.“There is more to come,” Sawyer said, anticipating the closure of another 2 million barrels a day of refining capacity through next year.Chinese refining capacity has nearly tripled since the turn of the millennium as it tried to keep pace with the rapid growth of diesel and gasoline consumption. The country’s crude processing capacity is expected to climb to 1 billion tons a year, or 20 million barrels per day, by 2025 from 17.5 million barrels at the end of this year, according to China National Petroleum Corp.’s Economics & Technology Research Institute.India is also boosting its processing capability by more than half to 8 million barrels a day by 2025, including a new 1.2 million barrels per day mega project. Middle Eastern producers are adding to the spree, building new units with at least two projects totaling more than a million barrels a day that are set to start operations next year.Plastic DrivenOne of the key drivers of new projects is growing demand for the petrochemicals used to make plastics. More than half of the refining capacity that comes on stream from 2019 to 2027 will be added in Asia and 70% to 80% of this will be plastics-focused, according to industry consultant Wood Mackenzie.The popularity of integrated refineries in Asia is being driven by the region’s relatively fast economic growth rates and the fact that it’s still a net importer of feedstocks like naphtha, ethylene and propylene as well as liquefied petroleum gas, used to make various types of plastic. The U.S. is a major supplier of naphtha and LPG to Asia.These new massive and integrated plants make life tougher for their smaller rivals, who lack their scale, flexibility to switch between fuels and ability to process dirtier, cheaper crudes.The refineries being closed tend to be relatively small, not very sophisticated and typically built in the 1960s, according to Alan Gelder, vice president of refining and oil markets at Wood Mackenzie. He sees excess capacity of around 3 million barrels a day. “For them to survive, they will need to export more products as their regional demand falls, but unfortunately they’re not very competitive, which means they’re likely to close.”Demand TrapGlobal oil consumption is on track to slump by an unprecedented 8.8 million barrels a day this year, averaging 91.3 million a day, according to the IEA, which expects less than two-thirds of this lost demand to recover next year.Some refineries were set to shutter even before the pandemic hit, as a global crude distillation capacity of about 102 million barrels a day far outweighed the 84 million barrels of refined products demand in 2019, according to the IEA. The demand destruction due to Covid-19 pushed several refineries over the brink.“What was expected to be a long, slow adjustment has become an abrupt shock,” said Rob Smith, director at IHS Markit.Adding to the pain of refiners in the U.S. are regulations pushing for biofuels. That encouraged some refiners to repurpose their plants for producing biofuels.Even China may be getting ahead of itself. Capacity additions are outpacing its demand growth. An oil products oversupply in the country may reach 1.4 million barrels a day in 2025, according to CNPC. Even as new refineries are built, China’s demand growth may peak by 2025 and then slow as the country begins its long transition toward carbon neutrality.“In an environment where the world has already got enough refining capacity, if you build more in one part of the world, you need to shut something down in another part of the world to maintain the balance,” FGE’s Sawyer said. “That’s the sort of environment that we are currently in and are likely to be in for the next 4-5 years at least.”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 investing legend has offered these tips for surviving the pandemic financially.
Banks have rallied in reaction to vaccine progress but have now reached resistance levels that favor reversals.
Josh Brown -- CNBC contributor, CEO of Ritholtz Wealth Management and author of the new book "How I Invest My Money" -- joined Benzinga's PreMarket Prep show Friday.Brown discussed his outlook for stocks in the coming months and potential economic recovery plays in anticipation of coronavirus vaccines hitting the market.Brown's Economic Recovery Plays: Brown said he is bullish on stock prices between now and year's end, predicting a melt-up in the S&P 500 in coming weeks."I hate saying it out loud because if it doesn't happen ... you know. But I'm starting to think that way," he said.Brown owns reopening stocks like Starbucks Corporation (NASDAQ: SBUX) and Simon Property Group Inc (NYSE: SPG)."I'm in some companies that really need there to be a reopening to get back to their 2019 numbers, and it might take them two years to do it," Brown said.For now, Brown said he's positioning in anticipation of how people will feel when they start hearing about friends and family members getting the coronavirus vaccine in coming months.Gap Growth Story: Brown is bullish on another economic recovery stock, Gap Inc (NYSE: GPS)."Years and years and years and years with no progress, no momentum. Nothing good to talk about in the story. You've got this fundamental change now -- them getting better at omnichannel, them getting better at the app, them improving the quality of the clothing and taking on Lululemon," he said."This could become a growth stock and it's selling at 0.5x sales, so you don't even have to pay up for the privilege of making that bet."'Taking An L' On Slack: Like any investor, Brown's track record is far from perfect. He acknowledge taking a loss on Slack Technologies Inc (NYSE: WORK) earlier this year."I think one of the things I didn't count on was how much pressure Microsoft was going to be putting on Slack, almost as though they timed that pressure for the company's IPO," Brown said.Slack's choice to go public via a direct listing meant that, unlike companies that list traditionally, Slack was immediately exposed to insider selling pressure -- and did not have the support of big bank IPO underwriters like Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS), he said. "I didn't count on those two things, and it escaped me how important they might be." Watch to the full interview with Josh Brown in the clip below, or listen to the podcast here.PreMarket Prep is a daily trading show hosted by prop trader Dennis Dick and former floor trader Joel Elconin. You can watch PreMarket Prep live every day from 8-9 a.m. ET Benzinga's YouTube channel, and the podcast is on Spotify, iTunes, Google Play, Soundcloud, Stitcher and Tunein.Latest Ratings for GPS DateFirmActionFromTo Nov 2020Morgan StanleyMaintainsEqual-Weight Oct 2020Morgan StanleyMaintainsEqual-Weight Oct 2020MKM PartnersMaintainsNeutral View More Analyst Ratings for GPS View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Tesla Short Sellers Have Taken A B Hit This Week * 5 Warren Buffett Stocks To Buy For Under (C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Gold futures turn sharply lower Monday as investors dump the metal amid news on prospective treatments and cures for COVID-19 that may be momentarily undercutting demand for precious metals.
Niu earnings results disappointed investors, with EPS that just beat or missed views. The e-scooter maker's revenue fell short.