The Milling Room executive chef and part-owner Marcus Ware on how New York restaurants are struggling amid the coronavirus pandemic and indoor and outdoor dining restrictions.
The Milling Room executive chef and part-owner Marcus Ware on how New York restaurants are struggling amid the coronavirus pandemic and indoor and outdoor dining restrictions.
Shares of Kandi Technologies Group Inc. hit hard Monday, after Hindenburg Research took a swipe at the China-based electric vehicle and battery packs maker by alleging "fake sales" to undisclosed affiliates of the company.
It's been an impressive November for S&P 500 stocks. And the month served up another reminder of the power in picking top stocks.
I have read a few of your HelpMeRetire inquiries, and I have a situation that I can’t seem to find much information about when I read retirement planning guides. I am 60 years old, and my spouse is 45. Our living expenses aren’t extravagant, but we do like to travel.
Advanced Micro Devices is breaking out over resistance on Monday. Here's how to trade the stock as the markets head into December.
The Dow Jones Industrial Average fell more than 350 points amid Moderna coronavirus vaccine news Monday. Tesla jumped to more all-time highs.
Cannabis stocks continued their postelection rise from the ashes Monday, ahead of votes this week regarding decriminalization in the U.S. House of Representatives and the United Nations.
ServiceNow (NOW), Snowflake (NKE), Tesla (TSLA), JD.com (JD) and PayPal (PYPL) have all made the IBD Leaderboard list of stocks to watch. After finding support as it bases, Apple (AAPL) is looking to officially join the group. In addition to Apple stock making the Leaderboard Watchlist and NOW, NKE and PYPL earning a spot on the list of Leaders Near...
Zoom beats earnings expectations as the pandemic-driven service continues impressive performance.
President-elect Joe Biden announced Monday that he will nominate Janet Yellen, a former chairman of the Federal Reserve Bank, to be his Secretary of the Treasury.
S&P Dow Jones Indices will reveal how it will go about adding Tesla Inc. to the S&P 500 index after markets close on Monday.
Nikola and GM revise the terms of their previous headline-grabbing deal.
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in November 2020.
Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.On any given day, the show will cover at least 20 stocks determined by co-hosts Joel Elconin and Dennis Dick along with producer Spencer Israel.Several issues have had spectacular rallies in 2020. Perhaps one of the biggest surprises has been the recovery in GameStop Corp (NYSE: GME), which is the PreMarket Prep Stock Of The Day.Rough Start In 2020: After ending 2019 at $6.34, which was half of its year-end closing price in 2018 ($12.62), it continued lower in January while the broad market went in the opposite direction. When the broad market bottomed in March, the issue didn't find its bottom until April 3 at $2.57, which was an all-time low based on the data going back to February 2002.Initial Catalyst: The move off that low was tepid until April 13-14 when it made a two-day move from $3.89 to $5.95 on heavier than average volume. The catalyst being that Scion Asset Management reported additional stock purchases. The investment firm, founded and run by Michael Burry, who gained notoriety by predicting the financial crisis in 2008-2009 bumped his stake to 5.3%.From April through July, it traded in a range from that low to $6.47 but was back at the lower end of the range at the end of July at $4.01. With no major news in August, it rallied to $7.15 and ended the month just off that level at $6.88.Another Catalyst: After the close on Sept. 21, Chewy (NASDAQ: CHWY) founder Ryan Cohen raised his stake in the company to 9.98%. The issue rallied from $8.75 to $10.56 on monster volume. The momentum off the announcement took the issue into double digits for the first time since March 2019, when it ended the month at $10.20.Microsoft Instigates Another Leg Higher: On Oct. 8, as the issue was trading at $9.22, it was halted with news pending and it was big. The company announced a multi-year strategic agreement with Microsoft (NASDAQ: MSFT) to standardize its business operations on Microsoft Cloud solutions.As expected, the issue ripped higher off the halt, reopening at $10.37 and reached $11.37 within minutes. It continued higher, reaching $13.64 before retreating to close at $13.49. The issue was unable to hold those gains and slumped to end the month at $10.47.Full Participation In Rally: The quantum leap in the price of GameStop in November can be attributed to vaccine optimism and the overall rally in retail and apparel stocks as the reopening trade has gained momentum.Bulls Gets Aggressive In PreMarket Trading: Being an aggressive trader in premarket trading can be rewarding if you have the capital and inclination to do so. One trader or group of traders got super-excited over the company's "Cyber Week" deals and the anticipation that the recent launch of next-generation gaming consoles would benefit the company.Feasting on the lower-liquidity in the premarket boosted the issue to $20.25 on 15,000 shares by 4:30 a.m. ET before attracting major sellers. In fact, in the absence of the early boosters, the issue was back at $17 by 7 a.m ET.In volatile trading, it found a bottom at $16.88 around 11 a.m. ET and rebound off that low came up shy of the premarket high only reaching $19.42. As of 12:30 p.m. ET, it has edged up near the $18 handle.PreMarket Prep Take: The short- and long-term merits of the company were discussed as well as a possible explanation for the unusual price action in the premarket session.Photo via BentleyMall on Wikipedia. See more from Benzinga * Click here for options trades from Benzinga * PreMarket Prep Stock Of The Day: Palantir Technologies * PreMarket Prep Stock Of The Day: Deere(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
(Bloomberg Opinion) -- There are only a few basic rules of investing: diversify, keep your costs low and probably most important, hang on when markets tumble occasionally. The last one is the trickiest. It’s not easy watching money vanish as the market plunges, particularly when many people, some of them highly respected, are carping about the end of the world, which invariably accompanies a market collapse.So it was when Covid-19 sent U.S. stocks into a tailspin in late February. The S&P 500 Index shed a third of its value in just more than four weeks, one of the steepest retreats on record, amid widespread chatter that the pandemic would plunge the U.S. into a long depression, wiping out whole industries and permanently damaging broad swaths of the economy.Hanging on to stocks through that chaos was no small feat, and amazingly, most investors managed to do it. Research firm Dalbar, which attempts to track investors’ moves into and out of mutual funds, concluded in a recent report that “the average investor’s appetite for equities has remained unchanged throughout the Covid crisis.” Vanguard Group, which oversees more than $6 trillion in assets, found that less than 0.5% of its retail clients and self-directed investors in its retirement plans panicked and moved to all cash between Feb.19, the market’s pre-coronavirus peak, and May 31.That’s a big change from previous meltdowns, most recently the 2008 financial crisis, when investors dumped stocks in droves. It seems to have finally sunk in that all crises pass and that the stock market eventually recovers, no matter how desperate things seem at the time. And true to form, the market recovered sooner than anyone expected. It shot higher in late March and surpassed its pre-Covid high in August, even as the coronavirus showed few signs of slowing. As it turned out, the recovery began roughly eight months before news arrived that a highly effective vaccine is in hand and will start to be distributed soon. That sounds about right. Those who dumped their stocks along the way, gambling that the market is poised for a long slump and would give them an opening to reenter at even lower prices, now face a hard choice. The market is up roughly 60% from its March low, so getting back in means coming to terms with a costly mistake. Say you had $100,000 in the market at the pre-coronavirus peak and sold roughly halfway down, recovering about $83,000. If you had stayed in the market, you would have roughly $107,000 today, or close to 30% more money than when you exited. That’s tough to swallow.But the alternative is worse. The temptation is to wait stubbornly for the market to revisit its lows, a day that may never come. During the financial crisis, the market turned sharply higher in March 2009, even though it was not yet evident that a collapse of the financial system would be averted. When the all-clear came several months later, the market had risen roughly 60% through October.Sound familiar? Investors who dumped their stocks during the financial crisis faced the same choice modern-day deserters do now. Those who jumped back in after the crisis eased in 2009 have more than tripled their money despite buying back at what must have seemed like an outrageous price at the time, while those who waited for the elusive ideal reentry are still waiting. There are countless other examples. With rare exception, when the market surges from the depths of a crisis, it’s a signal that it has moved on, even if some investors have not. Chances are, the market has moved on from Covid-19, and investors should, too. The next time — and yes, there will be a next time — investors are tempted to dump their stocks during a crisis, they should focus not on getting out but getting back in. That should clarify the wisdom of staying put. No one can anticipate the bottom in advance, which means that the reentry will either be too early or too late. And too early is unrealistic. If you’re tempted to run for the exit when the market is down 20%, you probably won’t be in the mood to buy when it’s down 30% or more. That leaves one alternative: buying late, which is the pickle some investors are in now. It’s best to avoid that quandary altogether by remaining invested.For now, those who got out should recognize that there will never be a better time to get back in, at least one that can be known in advance.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Nir Kaissar is a Bloomberg Opinion columnist covering the markets. He is the founder of Unison Advisors, an asset management firm. He has worked as a lawyer at Sullivan & Cromwell and a consultant at Ernst & Young. For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Moderna has emerged as a strong competitor in the race for a coronavirus vaccine. But Moderna stock remains on a wild ride in 2020 as the need for a Covid-19 vaccine grows.
Nikola scrapped plans to build the Badger electric pickup truck in a drastically scaled-down partnership deal with GM.
The S&P 500 energy sector rose 27.5% last week on widespread expectations for a rebound in the global economy.
Gold bulls remain under intense pressure at the first trading session of the week in London.
Following the wild ride that was 2020, where does the market go from here? Major strides have been made in the COVID-19 vaccine race, yet the near-term picture remains unclear, blurred by the virus’ resurgence and the stimulus stalemate on Capitol Hill.In times like these, the investing greats can serve as a source of inspiration, namely billionaire Israel “Izzy” Englander.Who exactly is Englander? The legend, who started trading stocks when he was in high school, began his career interning at investment firm Oppenheimer, later going on to purchase a seat on the American Stock Exchange, where he would serve as a floor broker, trader and specialist.In 1989, along with Ronald Shear, Englander founded hedge fund Millennium Management. As evidence of his stellar track record, the guru took the $35 million the fund was started with and turned it into over $40 billion in assets under management. With his personal net worth clocking in at $7.2 billion, it’s no wonder Wall Street pays attention when Englander makes a move.Bearing this in mind, our focus shifted to Millenium’s most recent 13F filing, which discloses the stocks the fund snapped up in the third quarter. Locking in on two tickers in particular, TipRanks’ database revealed that both names score a “Strong Buy” analyst consensus. What’s more, the analyst community sees massive upside potential in store for each.G1 Therapeutics (GTHX)Bringing a deep understanding of the biology of cancer and extensive drug discovery experience to the table, G1 Therapeutics works to develop therapies that could potentially improve the lives of patients battling the deadly disease. Ahead of a key regulatory decision, the Street is pounding the table on this name.During the third quarter, Englander and Millennium picked up a new stake in GTHX. Pulling the trigger on 555,937 shares, the value of the holding comes in at $6,421,000.Turning to the analyst community, Needham’s Chad Messer tells clients that he has high hopes ahead of the February 15 PDUFA date for trilaciclib, its therapy designed to improve outcomes for cancer patients treated with chemotherapy. The therapy’s NDA was accepted in August for Priority Review based on results from three randomized clinical studies in small cell lung cancer (SCLC), with the FDA indicating that it doesn’t plan on holding an advisory committee (AdComm) meeting.As trilaciclib is the first CDK4/6 inhibitor to be used to treat chemo-induced bone marrow toxicity, Messer argues that the lack of an AdComm is “meaningful.” Expounding on this, he stated, “We believe this reflects the agency's appreciation of the unmet need, comfort with the safety profile of the CDK4/6 class, and efficacy profile of trilaciclib.”GTHX will also focus on the inclusion of trilaciclib into NCCN guidelines. It should also be noted that a Phase 3 pivotal study evaluating the candidate in metastatic colorectal cancer (mCRC) is set to kick off by year end.Adding to the good news, GTHX and its partner, Boehringer Ingelheim, are preparing for the commercial launch of trilaciclib, with the companies covering approximately 2,500 treating oncologists and providing educational materials regarding the use of trilaciclib ahead of treatment and the benefits of multi-lineage preservation.If that wasn’t enough, the rintodestrant (its selective estrogen receptor degrader (SERD) in development for the treatment of estrogen receptor-positive (ER+) breast cancer) plus palbociclib combination study was able to wrap up enrollment earlier than expected, reflecting “the appeal of an all-oral treatment regimen during a global pandemic,” in Messer’s opinion. With a data readout slated for Q2 2021, the analyst believes a “positive readout could prove to be a significant value driver.”In line with his optimistic approach, Messer reiterated a Buy rating and $74 price target, indicating 417% upside potential. (To watch Messer’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 3 to be exact, have been issued in the last three months. Therefore, the message is clear: GTHX is a Strong Buy. Given the $59 average price target, shares could rise 312% in the next year. (See GTHX stock analysis on TipRanks)Epizyme (EPZM)Also fighting the good fight against cancer, as well as against other serious diseases, Epizyme wants to find new treatments through novel epigenetic medicines. Even though the company faces headwinds with regard to its recent product launch, several members of the Street believe big things are in store.Millenium purchased 461,258 shares during the third quarter, with the buy reflecting a new position for the hedge fund. As for the value of the holding, it lands at $5,503,000.Writing for Wedbush, 5-star analyst David Nierengarten points out that the pandemic has limited oncologist visits, and therefore, Tazverik (the company's follicular lymphoma treatment) sales were lower than he expected. He points out that “the pandemic shifts the launch curve to an ‘incidence model’ rather than a prevalence model, as there is a limited patient pool to draw from if they are delaying office visits,” with patients waiting to seek treatment until they experience symptoms of progression.Additionally, although the launch is virtual and physician awareness is high, physicians are opposed to prescribing a new medication without examining the patient in person. That being said, Nierengarten remains optimistic about the therapy.“Despite these headwinds, Tazverik came close to meeting our estimates, and it is gaining market share, including seeing initial sales in second line. We expect more meaningful second line sales to begin in 2021, and have more gradually incorporated them into our launch curve,” the analyst explained.When it comes to the time on therapy, Nierengarten argues it’s too early to come to any conclusions. However, he highlights the fact that durability of response was relatively long and patients were treated past progression in the registration study. “Furthermore, the headwind against switching therapies turns into a tailwind of Tazverik maintenance once a patient is on therapy. This will likely contribute more meaningfully to 2H21 revenues and potential revenue outperformance,” he added.Summing it all up, Nierengarten commented, “At current levels, we believe investors are too negative on Tazverik’s potential and patience should be rewarded.”Based on all of the above, Nierengarten sides with the bulls, reiterating an Outperform rating and $27 price target. This target conveys his confidence in EPZM’s ability to climb 122% higher in the next year. (To watch Nierengarten’s track record, click here)Most other analysts echo Nierengarten’s sentiment. 3 Buys and 1 Hold add up to a Strong Buy consensus rating. With an average price target of $23.25, the upside potential comes in at 91%. (See EPZM stock analysis on TipRanks)To find good ideas for healthcare 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.
Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We surveyed a group of over 300 investors on whether shares of Nio (NYSE: NIO) or Xpeng (NYSE: XPEV) stock would grow the most by 2025.About 67% of traders and investors said shares of Nio would grow more in the next five years.Nio Vs. XPeng Stock In the near-term, the Shanghai-based EV maker Nio continues to garner investor's attention given marked earnings growth.Nio reported above-consensus third-quarter results, thanks to strong deliveries and margin improvement. Revenues climbed 146.4% year-over-year and 21.7% sequentially $666.6 million. This compares to the year-ago revenue of $262.47 million. The company also issued a strong fourth-quarter outlook.Nearly 33% of respondents said Xpeng stock would grow more in the next five years. One reader from our study expressed confidence in XPeng's ability to establish itself as a leader in the emerging low-cost EV market.The respondent noted how "XPeng is going after the larger, lower cost market as a direct competitor to Tesla. Hence, they are likely to have the greatest 5 year opportunity as that huge market segment in China both grows and moves to EV.""A good compact low-cost EV product such as XPeng's lineup would also garner momentum in Europe and the US as those regions move more aggressively to EVs. Assuming they can continue to beat Tesla on price and offer comparable quality, XPeng could become the EV version of Kia when they first come to market," the respondent said.This survey was conducted by Benzinga in November 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 300 adults.See more from Benzinga * Click here for options trades from Benzinga * Will Boeing Or Airbus Stock Grow More By 2025? * Will Oracle Or IBM Stock Grow More By 2025?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.