With the EEOC requiring companies to report pay gaps, Syndio helps companies eradicate pay disparities and promotes fairness in employment. Yahoo Finance's Heidi Chung, Julia La Roche and Brian Cheung discuss with Syndio CEO Maria Colacurcio.
With the EEOC requiring companies to report pay gaps, Syndio helps companies eradicate pay disparities and promotes fairness in employment. Yahoo Finance's Heidi Chung, Julia La Roche and Brian Cheung discuss with Syndio CEO Maria Colacurcio.
How much money people have put away for retirement varies, naturally, by their age group. See how your savings stack up.
Shares of United Parcel Service, Inc. (NYSE: UPS) were unaffected after the company said it was the unnamed company Fox News host Tucker Carlson called out for losing what he said is a politically sensitive package.What Happened: Carlson said during his daily "Tucker Carlson Tonight" show Wednesday that his New York office was in possession of "a collection of confidential documents related to the Biden family."Carlson was in Los Angeles at the time filming an interview with Tony Bobulinski, a former business partner of Hunter Biden, son of Democratic presidential nominee Joe Biden.Carlson asked his office to send over the documents that he described as "authentic" and potentially "damaging" to the Biden campaign. The documents were dropped off at a retail location of a "large national carrier," he said. Carlson didn't elaborate on what the documents are. Related Link: How The 2020 Presidential Election Could Impact Health Care StocksUPS Issues Statement: Carlson didn't name the company during his show. But UPS Corporate Media Relations Director Glenn Zaccara told Business Insider that UPS was the unnamed company."UPS is conducting an urgent investigation into this matter and regrets that the package was damaged," the company told Business Insider."The integrity of our network and the security of our customers' goods are of utmost importance. We will remain in frequent, direct contact with Fox News as we learn more through our investigation."To UPS' credit, Carlson said the company "went far and beyond" but "found nothing.""As of tonight, the company has no idea -- and no working theory, even -- about what happened to this trove of materials, documents that are directly relevant to the presidential campaign just six days from now," the Fox News host said.Photo by Jim.henderson via Wikimedia. See more from Benzinga * Click here for options trades from Benzinga * Molson Coors Stock Chugs Along After Big Q3 Beat * Grocery Prices A Concern As Coronavirus Cases Surge(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
If Joe Biden wins the November presidential election, the estates of wealthy Americans could be hit with a tax rate as high as 67%, according to a new analysis published by the Tax Foundation.
Before you open a retirement account, you should know the disadvantages of Roth IRAs. Income limits are one drawback. Learn about the disadvantages of Roth IRAs.
The e-commerce giant reported sales of $96.1 billion in the third quarter, up 37%, and well ahead of the company’s guidance range of $87 billion to $93 billion.
Jim Cramer shared his thoughts on the upcoming election and a potential blue wave.Cramer On The Election: "Let's see if people can fight the blue wave," Cramer said Thursday morning on CNBC. He's concerned about a potential blue wave and that "you have to be."He went on to describe a blue wave as: short and cover when the election night really ends because there's a lot of stocks in a blue wave that would be crimped by a "hijack of the far left."Cramer On A Game Plan: He went on to give a game plan for investors to make "real money.""Short the managed care stocks into a blue wave. The managed care stocks then drop 10%, then you buy the managed care stocks, leading with Centene (NYSE: CNC) and maybe United Health (NYSE: UNH). Pfizer (NYSE: PFE) goes down to $32 ahead of the election, drops to $31.50, people think they made a lot of money, you buy Pfizer," said Cramer."This is what you do, I just gave it to you."Potential Winners Under Biden: Cramer last week discussed his "basket of winners" if presidential candidate Joe Biden were to win the election.He believes investors will go towards the solar industry. Two solar stocks he likes: First Solar (NASDAQ: FSLR) and Tesla (NASDAQ: TSLA).Cramer also thinks infrastructure will be a winner under Biden. Cramer likes these two infrastructure stocks: Caterpillar (NYSE: CAT) and Deere & Company (NYSE: DE).See more from Benzinga * Click here for options trades from Benzinga * 'Halftime Report's' Top Stocks To Watch: AGCO, Keysight And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
According to Joe Biden’s tax plan, three states and New York City would see top marginal state and local tax rates of over 60 percent.
Shares of AbbVie Inc. gained 0.2% in premarket trading Friday, after the biopharmaceutical and health care company reported third-quarter earnings that beat expectations, raised its full-year outlook and boosted its dividend by 10%. Net income rose to $2.31 billion, or $1.29 a share, from $1.88 billion, or $1.26 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew to $2.83 from $2.33, beating the FactSet consensus of $2.76. Revenue grew 52.2% to $12.90 billion, above the FactSet consensus of $12.72 billion. "Results from key growth products -- including Skyrizi, Rinvoq and Ubrelvy -- continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we're advancing numerous attractive late-stage pipeline programs," said Chief Executive Richard Gonzalez. The company cautioned that the impacts of the COVID-19 pandemic remain uncertain, but it raised its full-year adjusted EPS outlook to $10.47 to $10.49 from $10.35 to $10.45. AbbVie also raised its quarterly dividend to $1.30 a share from $1.18, with the new dividend payable Feb. 16 to shareholders of record on Jan. 15. The stock has lost 8.9% year to date through Thursday, while the SPDR Health Care Select Sector ETF has slipped 0.2% and the S&P 500 has gained 2.5%.
Amazon has continued to reap the rewards of a society increasingly dependent on ecommerce — a trend further fueled by the COVID-19 pandemic. The company crushed analyst expectations Thursday, reporting net income of $6.3 billion in the third quarter, or $12.37 per diluted share, compared with $2.1 billion in net income, or $4.23 per diluted share in the same quarter last year. It's worth noting that Amazon achieved these results without the benefit of Prime Day, the annual shopping event that is typically held in July.
The ITEP data broke down the impact by state. Population has a major impact on the overall total in tax increases.
Electric vehicle maker Fisker Inc announced Thursday it has completed a reverse merger with the blank check company Spartan Energy Acquisition Corp (NYSE: SPAQ).What Happened: Both companies will merge in a business combination to create a new entity whose Class A common stock will list on the New York Stock Exchange under the symbol "FSR." Through the reverse merger, Fisker has gained access to $1 billion in cash inflows.Spartan is funded by an affiliate of private equity giant Apollo Global Management Inc. (NYSE: APO).With the funding and strategic tie-ups in place, CEO and Chairman Henrik Fisker remarked, " We can now fully turn our attention to developing and launching the revolutionary, all-electric Fisker Ocean into the heart of the midsize SUV market."Earlier this month, Fisker and Magna International (NYSE: MGA) partnered to manufacture the all-electric SUV model Ocean, and production is expected to commence towards the end of 2022.Why Does It Matter: Special Purpose Acquisition Companies or SPACs are gaining more traction in the EV segment.Lordstown Motors Corp merged with DiamondPeak Holdings Corp (NASDAQ: DPHC) in August. Stocks of the merged entity are listed on Nasdaq under the symbol RIDE, which gained 5% during Thursday's trading hours.In early June, Nikola Corp (NASDAQ: NKLA) announced a merger with SPAC VectoIQ.Price Action: After a 2.61% fall during Thursday's trading session, SPAQ gained 1.79% in the after-hours to close at $9.12.See Also: Jim Cramer Compares Fisker And Its CEO To Nikola, Trevor MiltonSee more from Benzinga * Click here for options trades from Benzinga * Wyoming Approves Avanti Financial As A Digital Asset Custodian * UK Government Expects Verdict On Pfizer's Vaccine Before Christmas: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
America goes to the polls on Tuesday (well, actually, America has been early voting for a few weeks, now), and while Democrat Joe Biden has a solid lead in the polls, there is some of evidence that President Trump may still win a second term. Finally, with all of the early voting, mass absentee ballots, and possible extended counting deadlines, we might not know on Tuesday night who the winner is.It’s a situation made of uncertainty, and financial markets don’t like that. Which brings us to dividend stocks. Investors want a pad, something to protect their portfolio in case of a market drop, and dividends offer just that. These profit-sharing payments to stockholders provide a steady income stream, that typically stays reliable even in a modest downturn. Wall Street’s analysts have been doing some of the footwork for us, pinpointing dividend-paying stocks that have kept up high yields, at least 8% to be exact. Opening up the TipRanks database, we examine the details behind those payments to find out what else makes these stocks compelling buys.Altria Group, Inc. (MO)We’ll start with Altria Group, the tobacco company best known for its iconic Marlboro cigarettes. Altria, like many of the so-called ‘sin stocks,’ is one of the market’s dividend champions, with a long history of reliable, high-yielding payments. The company has benefited from a psychological quirk of human nature during such a wild year as 2020: People will hunker down if necessary, but they won’t give up their small pleasures.Cigarettes are exactly that, and even though overall smoking rates have been declining in recent years, Altria saw stable financial results in the last few quarters. The first and second quarters both showed $1.09 in earnings, well above the 97 cents expected in Q1 and modest beat against Q2’s $1.06 forecast. Revenues hit $5.06 billion in Q2, in-line with the two previous quarters.Looking ahead, analysts expect Altria to post $1.15 per share in earnings on $5.5 billion in revenues when it reports Q3 results. That report is due out tomorrow morning. Meeting those results will help Altria maintain its dividend – although the company has a long-standing, very public, commitment to do just that. Altria has kept its dividend reliable for the past 12 years, and for the last payment, made it September, the company even slightly raised the payout by 2.4%. The current dividend is 86 cents per common share, or $3.44 annualized, and yields an impressive 8.8%.Looking at Altria in the lead-up to the Q3 report, Deutsche Bank analyst Stephen Powers writes, “[We] are positively biased on company fundamentals as we approach MO's results next week—reinforced by healthy scanned channel demand intraquarter across MO's core tobacco businesses, with particular strength in cigarettes driven by the Marlboro brand… we believe continued operational execution in its core business will enable MO to more credibly position itself as a stable core tobacco investment…”Powers rates the stock as a Buy, and his $51 price target implies a 37% upside for the coming year. (To watch Powers’ track record, click here)Overall, Altria has a Moderate Buy rating from the analyst consensus, based on 3 Buys and 2 Holds set in recent weeks. The stock’s current share price is $37.04, and the average price target of $46 suggests a 24% one-year upside. (See MO stock analysis on TipRanks)American Finance Trust (AFIN)Next on our list is a Real Estate Investment Trust, a REIT. These companies are known for their high dividends, a fact resulting from a quirk of tax regulation. REITs are required to return a certain percentage of profits directly to shareholders, and dividends are one of the surest means of compliance. AFIN, which focuses its portfolio on single- and multi-tenant service-retail properties, is typical for its niche.And its niche has been solid. AFIN boasts major companies like Home Depot, Lowe’s, and Dollar General among its top ten tenants, and announced earlier this month that it has collected over 91% of its third quarter rents. Looking ahead to Q3 results next week, EPS is expected at 23 cents, a 15% increase from Q2. The company offers a monthly dividend, at a rate of 7.1 cents per common share, instead of the more common quarterly payments. The monthly format allows some flexibility in managing adjustments to the payout rate; in April, AFIN reduced the dividend from 9 cents to 7.1 as part of efforts to manage the corona crisis effects on business. The current payment annualizes to 85.2 cents per share, and yields a robust 14.7%. This is more than 7x higher than the average dividend yield found among S&P 500 companies.B. Riley analyst Bryan Maher notes the difficulties that AFIN has faced, as a property owner and manager during an economic downturn, but is confident in the company’s ability to meet the challenges.“Like most REIT's, AFIN has been impacted by the COVID-19 pandemic, which is not surprising given its portfolio has a large number of service retail assets. However, 71% of the portfolio is necessity-focused retail, with the balance being distribution and office properties. As such, AFIN collected 84% of cash rents due in 2Q20, including 96% of the cash rent due from its top 20 tenants. Cash rent collection for July improved to 88%. AFIN has been proactive in working with certain tenants to negotiate rent deferrals/credits…” Maher noted. To this end, Maher rates AFIN stock a Buy, and gives it a $10 price target. At current trading levels, this implies a strong one-year upside potential of 76%. (To watch Maher’s track record, click here)AFIN is priced at $5.69, and its average target matches Maher’s, at $10. The stock has a Moderate Buy from the analyst consensus, based on an even split between Buy and Hold reviews. (See AFIN stock analysis on TipRanks)Golub Capital BDC (GBDC)Last but not least is Golub Capital, a business development company and asset manager. Golub works with middle market companies, providing solutions for financing and lending. The company boasts a market cap of $2.2 billion, as well as over $30 billion in capital under management.In the months since the corona virus crisis hit the economy, Golub has seen a depressed share price and high volatility in its earnings. The stock is down 28% year-to-date. Earnings, which collapsed in 4Q19, have been bouncing in 2020. The first quarter showed 33 cent per share, while the Q2 figure came in at 28 cents. Looking ahead, the forecast expects a repeat of the second quarter EPS figure, 28 cents. Revenues have been just as volatile; the first quarter saw a deep net loss, but Q2 saw the top line bounce back to $145 million. This was the highest quarterly revenue figure in the past year.Golub believes in keeping up the dividend for investors, offering not only a reliable regular payment but also periodic special dividends. The company adjusted the payment earlier this year, both to keep it affordable during the coronavirus crisis and to keep the yield from getting too high. The result was a 12% cut, making the current payment 29 cents per common share quarterly. This still gives a high yield of 9.16%, which compares well to the 2.5% average found among finance sector peers.Finian O’Shea, from Well Fargo, notes that Golub has recently announced a $2 billion unsecured debt issue, a move that gives the company plenty of liquidity in a difficult time. He writes, “GBDC isn’t paying a hefty premium for unsecureds to begin with... We think the improved flexibility and longer tenor of unsecureds make them an attractive addition to the right side of the balance sheet, and see it as a vote of confidence in GBDC’s underlying portfolio.”O’Shea reiterates his Overweight (i.e. Buy) rating on this stock. His price target, at $13.50, indicates room for a modest 6% upside. (To watch O’Shea’s track record, click here)Like AFIN above, Golub Capital has a Moderate Buy consensus rating, with 1 each Buy and Hold reviews. The stock’s average price target matches O’Shea’s, at $13.50. (See Golub’s stock analysis at TipRanks)To find good ideas for dividend 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.
The Netflix money-minting machine looks to be ramping up even further.
Fear not: There are smart ways to ensure that your retirement nest egg keeps growing. Just be aware of the risks and be sure to read the fine print.
Shares of Pitney Bowes (NYSE:PBI) rose 3.2% in pre-market trading after the company reported Q3 results.Quarterly Results Earnings per share decreased 66.67% year over year to $0.08, which beat the estimate of $0.05.Revenue of $891,898,000 rose by 12.88% year over year, which beat the estimate of $851,560,000.Guidance Pitney Bowes hasn't issued any earnings guidance for the time being.View more earnings on PBIRevenue guidance hasn't been issued by the company for now.Recent Stock Performance Company's 52-week high was at $7.67Company's 52-week low was at $1.67Price action over last quarter: Up 129.34%Company Profile Pitney Bowes is a global technology company that offers e-commerce solutions to its clients. The company provides various products and services such as domestic delivery, return and fulfillment, cross-border shipping solutions, sorting services for large volumes of postal mails, technological solutions to enable digital mailing, shipping, and other services. The company operates through three business segments: global e-commerce, presort services, and SendTech Solutions. The company generates roughly half of its revenue through the SendTech Solutions segment, and most of its revenue is earned in the United States.See more from Benzinga * Click here for options trades from Benzinga * Earnings Scheduled For October 30, 2020 * 12 Industrials Stocks Moving In Thursday's After-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Dow Jones Industrial Average climbed amid a broad rally as House Speaker Nancy Pelosi pressed Treasury Secretary Steven Mnuchin on coronavirus stimulus.
AbbVie posts better-than-expected third-quarter earnings as strong global sales from its popular Humira arthritis treatment offset a dip in Botox treatment revenue.
Exxon Mobil topped Q3 views and guided 2021 investment sharply lower while Chevron reported mixed results.
Shares of BioLine RX Ltd. soared 47% on heavy volume of 14.1 million shares in premarket trading Friday, after the Israel-based biopharmaceutical company announced positive interim results from a Phase 3 trial of motixafortide for stem cell mobilization (SCM) in multiple myeloma patients. The stock was the biggest gainer and most actively traded in the premarket, with volume already way above the full-day average of about 114,000 shares. The company said an independent data monitoring committee (DMC) analyzing the study's primary endpoint recommended that patient enrollment may be ceased immediately given the "statistically significant evidence" favoring treatment with motixafortide. "The compelling results of this planned interim analysis are a very significant milestone for our Company, as our SCM program is the Company's most efficient path to registration for motixafortide," said Chief Executive Philip Serlin. The stock, on track to open at a two-month high, has declined 34.2% year to date through Thursday, while the iShares Nasdaq Biotechnology ETF has rallied 10.4% and the S&P 500 has gained 2.5%.
The largest initial public offering (IPO) in global financial history broke records in Shanghai and Hong Kong, soaking up more than US$3 trillion from retail investors, setting off frenzied bids for the shares of Ant Group.A record 19.05 trillion yuan (US$2.85 trillion) of bids were received from retail investors for Ant's shares on Shanghai's Star Market, exceeding the supply of shares by 870 times. In Hong Kong, 1.55 million retail investors, or about one-fifth of the city's population, poured in HK$1.3 trillion (US$167.7 billion) for the shares when the book closed at noon on Friday, overbidding by 394 times, according to people familiar with the matter.Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China.The IPO has already mopped up more money than the stock sale by Chinese bottled water producer Nongfu Spring's HK$677.7 billion. The number of mom-and-pop investors in Ant Group will also exceed the record when 970,000 people submitted bids for the shares of the Industrial and Commercial Bank of China (ICBC) in 2006, according to stock exchange data."The offering is so hot that more than 1 million retail investors have sent their subscriptions," said Louis Tse Ming-kwong, managing director of Hong Kong-based brokerage Wealthy Securities. "It is a historic moment for Hong Kong's securities market."Retail investors submitted a record 19.05 trillion yuan (US$2.85 trillion) in subscription money for Ant's share offering on the Star Market, a board of technology stocks in Shanghai. It amounted to 872 times oversubscription, the firm said in a Shanghai exchange filing late on Thursday.Ant Group offered 1.67 billion shares each in Hong Kong and Shanghai to raise about US$34.5 billion, making it the world's biggest IPO. Including a 15 per cent overallotment in each leg, the total size of the IPO will increase to US$39.67 billion.Strong demand from individual investors in Hong Kong will trigger a mechanism where the retail allocation is raised to a maximum of 10 per cent, from the initial 2.5 per cent.Investors are buying the shares as the valuation is deemed cheaper than overseas payment companies, said Hong Kong Securities Association chairman Gordon Tsui. Ant is the operator of Alipay and an affiliate of Alibaba Group Holding which owns this newspaper."Investors believe in the future economic and technological growth of mainland China," Tse of Wealthy Securities said. "There is an increasing number of people using digital payment. Ant may have more upside room to go if it expands Alipay to overseas markets."Ant Group began taking orders from retail investors in Hong Kong from Tuesday. HSBC, Bank of China (Hong Kong), other retail banks and the city's 600-odd brokerages have made available as much as HK$500 billion of margin financing loans to help investors fund their subscription, more than double the capacity for Nongfu Spring's IPO."We have seen record levels of IPO applications and IPO loan uptake for Ant Group," HSBC said in a statement. The lender set aside HK$150 billion of loans for its customers to subscribe to the shares at an interest rate of 0.48 per cent to 0.88 per cent. How retail investors can increase their chances of getting a piece of Ant Group's blockbuster IPO in Hong KongThe frozen IPO liquidity, however, has not driven up local interest rates substantially, with the one-month interbank offered rate or Hibor rising to 0.48 per cent on Thursday from 0.13 per cent a week earlier. The current level is still lower than 2 per cent in March.Part of the reason is the presence of hot money in the system. More than HK$383.51 billion has entered the local financial system since April, according to HKMA statistics, forcing it to intervene more than 85 times to keep the Hong Kong dollar from breaking the stronger end of its trading band.The inflows pushed the aggregate balance, or the amount of cash sloshing in the banking system, to a record HK$457.46 billion on Friday, or more than eight times the level before the HKMA's currency-market intervention.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.