Brian Nick, Nuveen Chief Strategist joins Yahoo Finance’s On The Move to break down what economic policy makers are doing to make sure that the markets make a strong recovery.
Brian Nick, Nuveen Chief Strategist joins Yahoo Finance’s On The Move to break down what economic policy makers are doing to make sure that the markets make a strong recovery.
Acorda Therapeutics (NASDAQ: ACOR) shares are trading higher on Tuesday after the company announced it has become entitled to receive a $15 million milestone payment from Biogen.Acorda Therapeutics is a biopharmaceutical company focused on developing therapies that restore function and improve the lives of people with neurological disorders. Acorda uses scientific, clinical, and commercial expertise in neurology as strategic points of access in additional nervous system markets, including stroke, Parkinson's disease, and epilepsy. The company does not operate separate lines of business with respect to any of its products or product candidates. All of its net product revenue is derived from the United States.Acorda Therapeutics shares traded up 69.06% to $1.17 on Tuesday. The stock has a 52-week high of $2.82 and a 52-week low of 42 cents.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Why Globus Maritime's Stock Is Trading Lower Today * Why Cleveland BioLabs Stock Is Trading Higher Today(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Get the most from your retirement savings in these affordable places outside the U.S.
President Donald Trump says the American Dream is on the line this election, while Democratic challenger Joe Biden says his campaign is locked in a “battle for the soul of this nation.” How might the candidates affect the things you can see and hold, like a paystub, an income tax return or a portfolio statement? The focus on finances puts tax policy front and center.
Data was reported last week by the federal government on diesel inventories that was historic in the magnitude of the change from the prior week. It could mark a shift in the weak diesel market that has benefited carriers and drivers for several months. Ultimately, the price of diesel will be set primarily by the price of crude. But the spread between crude and diesel is also an important factor in the final pump price. That spread has been trending near historic lows for months.The primary reason has been refiners making too much non-jet fuel distillate relative to demand. Diesel is a distillate; so is jet fuel. The result has been that distillate/diesel inventories in the U.S. and the world have been at historically high levels. (Other products besides diesel in the category would include heating oil.)That appears to have shifted. The most transparent and immediate numbers are the weekly Energy Information Administration statistics, released each Wednesday for the week that ended the prior Friday. And the numbers that came out last week (Thursday, actually, due to the Columbus Day holiday) were eye-popping when it comes to diesel.The most easily understood inventory number is "days cover." That number is reached by taking daily consumption, dividing it into inventories and the result is the number of days of consumption that could be covered by existing stocks.For distillate inventories that don't include jet fuel, that number tends to run in the range of 28-35 days. But earlier this year, as diesel inventories began to soar due to changes being made by refiners seeking survival — more on that later — the days cover figure broke above 50 days. In the history of the EIA series going back to 1991, the days cover figure broke above 50 only a handful of times. It was never sustained above that level.This year, the days cover figure broke through 50 days in late May and stayed above it for nine out of the next 10 weeks. The growth in inventories was unprecedented. It dropped below 50 days in early August but stayed in the 47 to 49 days' range all through September and into October. That was unprecedented.But last week, that number plummeted to 42 days, a drop of 6.1 days. It was easily the biggest one-week decline in the history of the series. It meant that in one week, six days of distillate/diesel inventory cover disappeared. That had never happened before.Why? There were two major contributors to that decline.The first is that demand for distillate/diesel soared. The fact that it had been lagging was somewhat of a mystery, given the strong trucking market. The "product supplied" figure for distillate/diesel rose to 4.175 million barrels/day in the week ending Oct. 9, the first time it had been above 4 million b/d since the second week of March. A year ago at this time, it was 4.36 million b/d.Second, refiners made a lot less of it. Since the collapse in air travel, refiners have been doing everything they can to not make too much jet fuel. They've largely succeeded; days cover for jet fuel had gotten up to more than 70 days but now is less than 40, which is even lower than distillate/diesel. But to get to that level, refiners needed to shift their distillate output away from jet and toward other distillates. Refiners have been trying through various means to not only reduce jet output but also to cut back distillate output as well. They succeeded in the first task. The second is harder. Put a barrel of crude through a refinery and you will get some level of distillate molecules. Cutting back on it can be a challenge.There was another fuel that refiners didn't want to make during the pandemic: gasoline. As a result, even during the height of the pandemic, distillate output topped 5 million b/d as every effort was made to reduce gasoline output when people weren't driving. That 5 million b/d figure for distillate is not a crazy high number normally but it is in the middle of a sharp economic contraction. However, the push to cut back on distillate output has succeeded. U.S. refiners in the week ended Oct. 9 produced 4.279 million b/d of distillates. That's the lowest number since 2013. It wasn't easy, but refiners took the steps to start making less distillate, as they already had done to make less jet fuel and less gasoline earlier. (With people driving again, refiners are back to making gasoline.)The end result: the six-day drop in U.S. days cover, created by a drop in inventories on the back of less output, and a decline in demand. But it is not just the U.S. In its latest monthly report, the International Energy Agency (IEA) said middle distillate inventories in Europe in September rose just 500,000 b/d. The five-year average is 9.3 million b/d. The result is a graph that showed that inventories are still above the five-year average but are no longer at historical highs. They've gotten down to levels closer to earlier highs, still excessive but not chart-busting. Source: International Energy AgencyIn Asia, the IEA reported that middle distillate inventories rose with historic norms. (Autumn tends to be a time in oil markets of inventory building as the world prepares for winter.)Although the decline in distillate inventories in the U.S. may have been historic, it hasn't yet resulted in a significant price reaction. The price of crude has bounced around in the last weeks but ultimately gone nowhere. Brent crude, the world's benchmark and the more relevant marker for comparison with diesel, was $43.15/barrel on Sept. 17. Last Friday, it settled at $43.32./bDuring that time, the front-month price of ultra low sulfur diesel on CME rose to $1.1791/gallon from $1.1598/g. That increased the spread of ULSD over Brent to 14.09 cts/ga from 12.8 cts g on Sept. 17.But by point of comparison, to show how much all that diesel inventory had held down prices relative to crude, the spread a year ago was about 53 cts/gallon. The current diesel to Brent spreads aren't sustainable. Diesel has not entered a permanent, long-term realignment against crude. If the move toward normalcy is going to start anytime soon, it could be that last week's numbers were the signal that it has begun.More articles by John KingstonGood news for diesel consumers, tough news for oil patch drivers in federal reportLabor Day, Roadcheck one-offs catch diesel traders by surpriseOOIDA scoffs at high cost estimates for broker transparencySee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * FreightWaves CEO Interviewed On "The Business Of Content" Podcast * News Alert: US, Canada, Mexico Border Closures Extended To Nov. 21(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The internet bubble in 2000, the 1973-74 bear market — and the current market — are alarming outliers in the U.S. market’s 227-year history, writes Mark Hulbert.
This is one of the worst ways to invest for yield in the stock market heading into what may be the best year for economic growth in 20 years — 2021. Classic dividend payers like Procter & Gamble (PG) Colgate-Palmolive (CL) General Mills (GIS) and Campbell Soup (CPB) are called “noncyclicals.” Instead, I’m telling income investors who subscribe to my stock letter to own cyclical names that pay dividends.
The 90-year-old billionaire is taking advantage of low interest rates. You should, too.
It might be like cold water in the face to think that earnings don't matter. But these stocks have detached themselves from all metrics.
Researchers asked high-net worth investors what goes through their mind when they think about equity exposure.
Shares in South Korean automaker Hyundai Motor Co <005380.KS> and affiliate Kia Motors Corp <000270.KS> tumbled as much as 6% on Tuesday after warning third-quarter earnings would be hit by a further $3 billion in charges related to engine problems. Hyundai and Kia said quality-related costs of a combined 3.36 trillion won ($2.95 billion) related to the years-long quality problem that has tarnished their credibility, taking the total costs to nearly $5 billion. "The amount of provisions Hyundai and Kia are declaring is getting bigger each year passed and that is worrisome," said Kevin Yoo, an analyst at eBEST Investment & Securities.
Some employers worry if they provided employees these two retirement benefits, workers may not save as much for their futures.
The Dow Jones rallied from a session pullback as the Tuesday coronavirus stimulus deadline set by House Speaker Nancy Pelosi draws closer.
It’s the final countdown. With the U.S. Presidential election only two weeks away, election year stress is making the rounds on Wall Street, but one pro argues that regardless of the outcome, opportunity could emerge.Oppenheimer’s Chief Investment Strategist John Stoltzfus notes that in the last leg of the race to the White House, “the markets appear to be signaling that no matter how loud the rhetoric gets from either side and no matter which side wins, investment opportunity in some form is likely to prevail over risk beyond inauguration day in January 2021.” He added, “In our experience opportunity often arises from uncertainty while a perception of ‘certainty’ often breeds complacency.”As for Q3 earnings season, it’s already surprising to the upside. Although it’s still too early to tell how the season will play out, Stoltzfus says “so far so good.” Data from the past weekend shows 84% of companies that already reported have beat earnings expectations and 82% have exceeded revenue expectations for the quarter. Taking Stoltzfus’ outlook into consideration, Oppenheimer’s analysts are pounding the table on two under-the-radar stocks, noting that each could double or more in the next year. Using TipRanks’ database, we found out that the rest of the Street is also on board, as each boasts a “Strong Buy” consensus rating.NeuBase Therapeutics (NBSE)Developing the next generation of gene-silencing therapies with its flexible, highly specific synthetic antisense oligonucleotides, NeuBase Therapeutics wants to improve the lives of patients everywhere. Based on the strength of its platform, Oppenheimer thinks big things could be in store.Firm analyst Hartaj Singh highlights the company'sPeptide-nucleic acid (PNA) AnTisense OLigonucleotide (PATrOL) platform, which enables rapid drug design to treat various medical abnormalities, systemic delivery (IV), blood-brain barrier penetration, increased cell permeability, access to genomic loci and secondary RNA structures and the development of highly selective therapies, as overcoming the technical limitations to first-generation antisense oligonucleotides (ASOs).“We believe that in the profound potential of ASOs to treat diseases, the current field of first-gen therapies has created a ‘hurdle’ for a company like NBSE, whereby its technical advantages to ASOs through its PATrOL platform could lead to therapies with a better risk/benefit profile,” Singh explained.Additionally, the long-tail redistribution of NBSE's PNAs could have significant implications in terms of the dosing regimens for these agents (potentially weeks to months). Singh mentioned, “In combination with the enhanced druggability of targets via PNAs, we continue to view the PATrOL platform's potential highly, with the customary attention reserved for safety on such novel medicines.”After the first half of 2020 “helped shine additional validation” on this platform, the company remains on track with its lead Huntington's disease (HD) candidate, NT0100. Additional preclinical results and candidate selection are set to come by YE20.Looking at the available preclinical NHP data, it supports broad biodistribution and rapid tissue uptake following systemic (IV) administration, an important feature of the platform, according to Singh. “As the delivery of therapeutics and their penetration of deep brain structures remain of paramount importance for diseases such as HD, we are encouraged leading up to additional PD data from preclinical models (Q4 2020)… Despite the early nature of these preclinical NHP PK data and in-vitro PD data, we believe that they strongly validate the approach NeuBase has taken to truly develop a ‘better mousetrap,’ and differentiate its technology from conventional ASOs,” he commented.These features are inheritable across the class of PNAs NeuBase hopes to bring forward, and thus, Singh has high hopes for NT0200, its product for HD and myotonic dystrophy (DM1). DM1 is trailing the HD program by approximately six months. Following candidate selection in 1H21, IND-enabling studies could kick off. Everything that NBSE has going for it prompted Singh to leave his Outperform (i.e. Buy) rating as is. Along with the call, he keeps the price target at $17, suggesting 104% upside potential. (To watch Singh’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4 to be exact, have been issued in the last three months. Therefore, the message is clear: NBSE is a Strong Buy. Given the $16.50 average price target, shares could soar 97% in the next year. (See NBSE stock analysis on TipRanks)Prevail Therapeutics (PRVL)Next up we have Prevail Therapeutics, which is developing disease-modifying gene therapies for patients with Parkinson’s disease and other neurodegenerative disorders. After an impressive update on the progress of its pipeline, Oppenheimer likes what it’s seeing.Representing the firm, analyst Jay Olson highlights the encouraging data from the Phase 1/2a PROPEL trial evaluating its lead candidate, PR001, in Parkinson’s disease (PD) patients with the GBA1 mutation (PD-GBA). This mutation affects roughly 9% of all PD patients in the U.S.Looking more closely at the trial, it enrolled two patients, with preliminary data demonstrating normalization of CSF GCase activity at month-three from undetectable levels at baseline. According to Olson, this strongly suggests clinical improvement. It should be noted that there were serious adverse events (SAEs) at month-three, likely related to immune response to AAV9 capsid, that resolved. However, the analyst argues the immune response in AAV9 gene therapies is normal and transient.Additionally, PRVL submitted a protocol amendment for the PROPEL trial, and enrollment is expected to continue in 2H20. The company wants to change the design to an open-label study targeting 12 patients, including the two current patients, and plans to optimize the immunosuppresive regimen to spare steroid administration. To this end, two-month safety and biomarker data in a subset of patients is set to come by mid-2021. Should the therapy ultimately be approved for this indication, Olson sees possible 2035 risk-unadjusted sales of $8 billion.On top of this, a normalization of CSF GCase activity at month-four from undetectable levels at baseline was also seen in a Gaucher disease (GD2) patient on PR001 within compassionate use program. This rare inherited lysosomal disorder is also caused by autosomal recessive inheritance in the GBA1 gene.In Olson’s opinion, this result provided positive read across to the Phase 1/2 PROVIDE study in GD2, initiating in 2H20. “Because GD2 is an ultrarare disease that affects infants and results in a very short life expectancy, we believe the GD2 indication has a shorter regulatory pathway compared to other GBA1-related indications. We estimate PR001 approval, if clinically successful, may happen in 2024 given a lack of treatments for GD2 patients,” he mentioned. What’s more, the Phase 1/2 PROCLAIM study of PR006, its therapy for GRN frontotemporal dementia (GRN-FTD), is expected to kick off in 2H20, with the two-month biomarker readout from a subset of patients slated for late 2020 or early 2021.Given all of the above, Olson stated, “We view share price at an attractive entry point while PRVL remains well-capitalized with $131 million in cash providing runway into 1H22.”It should come as no surprise, then, that Olson stays with the bulls. In addition to an Outperform (i.e. Buy) rating, he left a $25 price target on the stock. Investors could be pocketing a gain of 156%, should this target be met in the twelve months ahead. (To watch Olson’s track record, click here)All in all, other analysts echo Olson’s sentiment. 5 Buys and no Holds or Sells add up to a Strong Buy consensus rating. With an average price target of $23.25, the upside potential comes in at 139%. (See PRVL 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.
Individual retirement accounts, commonly known as IRAs, are retirement fund staples for many people. Traditional IRAs let workers take a tax deduction when they deposit money into their account and then pay taxes when they make a withdrawal. It sounds straightforward, but exactly when you withdraw that money can make a big difference in how much you end up paying the government in taxes and fees.
Long-ailing Ford faces new coronavirus challenges with demand and supply chains. But is Ford primed for a comeback? Here’s what you should know.
Shares of Tesla Inc. dropped 1.9% in morning trading Tuesday, to put them on track to suffer a fourth-straight decline. That would be the longest losing streak for the electric vehicle maker's stock since six-day stretch ended March 18. The current streak comes ahead of Tesla's third-quarter earnings report, which is scheduled to be released after Wednesday's closing bell. The stock has shed 8.4% during its current losing streak, which followed a six-day win streak in which the stock rallied 11.4%. The stock is now 15.2% below its Aug. 31 record close of $498.32. Over the same time, the S&P 500 has slipped 1.4%. Among other EV makers, shares of Nio Inc. rose 0.6% in morning trading Tuesday, Nikola Corp. edged up 0.2% and Workhorse Group Inc. fell 3.9%.
Is Boeing stock a good buy now as coronavirus ravages aviation? Look at the aerospace giant's fundamentals and stock chart.
We’ve talked a lot about the economic downturn of this past spring and summer, and that’s a real story. The sequel, of course, is the remarkably fast recovery we’ve been experiencing, as first the stock market and then the general economy began bouncing back.The addendum to all of this, of course, is that there are stocks flashing ‘buy’ signs for investors. The reasons can vary, but at bottom, it’s fair to say that not every company suffered from coronavirus. For some, the new market conditions presented opportunities.Wall Street’s stock analysts make their reputations by spotting those opportunities – and letting the investing public know. We’ve opened the TipRanks database and pulled up three under-the-radar stocks that just received a thumbs-up from the analysts. There is upside here, along with some risk – but for investors willing to shoulder that, here are some unexpected picks from the Street.O’Reilly Automotive, Inc. (ORLY)One of the sectors that has seen positive growth in the ‘corona era’ is ‘do it yourself.’ DIY companies have found an expanding customer base as the social and economic isolation policies put in place to combat the virus closed businesses and forced people to stay home – but basic maintenance is still a requirement. O’Reilly is one such company. It sells aftermarket auto parts and supplies, including tools and accessories, to the DIY and professional market. The company boasts over 5,400 stores across the US and Mexico.American love their cars, and always have; home auto repair isn’t just a less expensive alternative to the shop, but also a popular hobby. O’Reilly has driven that basic fact to growing profits. The company saw $9.5 billion in total revenue in 2018, which grew to $10.2 billion 2019. So far, 2020 has seen $5.6 billion in revenue for the first half – and that number is trending up. Q1 saw $2.5 billion at the top line, while Q2 saw $3.1. Second quarter EPS was up 78% sequentially, to $7.10 per share.Indeed, the company credited an increased interest in DIY car repair for the strong quarter. Along with revenues and earnings, total sales were up 19%, comp store sales were up 16%, and net cash from operations grew by a whopping 84%, or $712 million.Matthew McClintock, writing from Raymond James, is unabashedly positive here. He says, “…we now believe that sizable independent market share is up for grabs now more than ever, and therefore we are incrementally positive on the company's ability to deliver comps towards the higher end of its annual 3%-5% algorithm. This company remains and likely will remain the single best supply chain in this industry for the foreseeable future…”Along with this upbeat outlook, McClintock upgrades his rating on ORLY stock from Market Perform to Outperform (i.e. Buy), and his $550 target price represents an upside of 17%. (To watch McClintock’s track record, click here)Overall, ORLY has drawn optimism mixed with caution when it comes to consensus opinion among sell-side analysts. Out of 14 analysts polled in the last 3 months, 9 are bullish on ORLY stock, while 5 remain sidelined. With a 10% upside potential, the stock's consensus target price stands at $517.31. (See ORLY stock analysis on TipRanks)Laird Superfood (LSF)The next stock on our list held its IPO just last month. Laird Superfood produces and markets a range of plant-based, nutrient-dense snacks and food additives. The company’s main line of products is specialized coffee creamers, designed to add both energy and nutrition to the morning staple.While LSF is too new to the public markets to have a significant chart history, and has not yet released quarterly results as a publicly traded company, it’s notable that the IPO was remarkably successful. The stock was offered for trading at $22 per share – but it opened at more than $33. The IPO sold more than 3 million common shares, and the company now boasts a market cap of $513 million.Canaccord analyst Robert Burleson is impressed with Laird, and initiates his firm’s coverage with a Buy rating and a $70 price target indicating room for 21% growth in the coming year. (To watch Burleson’s track record, click here)Supporting this view, Burleson writes, “LSF’s long-term prospects appear particularly attractive. The company is positioned to leverage its brand across an expansive range of plant-based foods. Backed by the wellness credibility of co-founders Laird Hamilton, an international fitness icon and nutrition expert, and his wife, Chief Brand Ambassador Gabrielle Reese, a professional volleyball player and model, LSF has already gained considerable traction within the plant-based, functional foods market.” In its short time on the public markets, LSF has garnered 3 Buy ratings, making the analyst consensus view a unanimous Strong Buy. Shares are selling for $53.58, and the average price target of $62.33 suggests a one-year upside of 8%. (See LSF stock analysis on TipRanks)CuriosityStream (CURI)Last on our list is CuriosityStream, an educational online video streaming channel devoted to ‘factual’ content. The site offers streaming services to subscribers, and boasts an audience of 13 million worldwide. It was first launched in 2015 by John Hendricks, who is best known for creating the Discovery Channel, the popular science-oriented cable channel, back in 1985.CuriosityStream went public at the end of the summer, through a merger deal with the ‘blank check’ special purpose acquisition company Software Acquisition. When the CURI ticker started trading earlier this month, on the NASDAQ exchange, it saw an almost immediate 10% price spike.The surge in interest in CURI was due in part to its public debut, but also to the company’s reputation and track record. CuriosityStream has received positive news coverage over the years from the New York Times, the LA Times, and the Wall Street Journal. It has also been nominated for 15 awards since 2016, for its science content and production quality, and has won 5 of those.Writing the first review on file for CURI shares is Zack Silver of B. Riley securities. He writes, “Our constructive view on CURI starts with a belief that consumers will continue to adopt SVOD as both a replacement and a complement to traditional linear TV… CURI launched its SVOD offering worldwide in 2015 and began to significantly ramp investments in marketing and content in 2018. Mr. Hendricks believes 40% of global viewers are interested in consuming factual programming; our recent survey work suggests that this number is closer to 80% in the U.S.” Silver initiates coverage of the stock with a Buy rating and a $16 price target that implies an impressive 45% one-year upside potential form the current share price of $11.02. (To watch Silver’s track record, click here)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.
Analyst adds a “negative catalyst watch” to Xilinx, given that the stock has rallied 10% on reports of deal talks.
International Business Machines Corp. shares dove more than 5% in Tuesday morning trading, after the tech company reported its lowest quarterly revenue total in more than 23 years.