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Jul 07, 2020
The administrator of collapsed German payments firm Wirecard said on Tuesday that more than 100 investors have expressed interest in buying the company's core business and its holdings. "The aim is to find timely investor solutions in the interest of creditors, employees and customers," Michael Jaffe said in a statement after a meeting of creditors. Jaffe added that the sale of Wirecard North America's assets was most advanced, with investment bank Moelis & Company already mandated to support such a sale.
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Jul 07, 2020
Yahoo Finance's Brian Sozzi, Alexis Christoforous, and Ines Ferre break down the market action for Tesla.
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Jul 07, 2020
(Bloomberg) -- Novavax Inc., one of the front-runners in the race to develop a Covid-19 vaccine, will receive $1.6 billion from the U.S. government, the biggest contribution yet from the Operation Warp Speed program.The funds will allow the company to conduct advanced human studies and establish manufacturing to deliver 100 million doses as soon as late 2020, Gaithersburg, Maryland-based Novavax said in a statement.Shares of Novavax rose as much as 41%, the highest since September 2016, in Tuesday trading.Novavax is among companies striving to develop an inoculation against the novel coronavirus that's spreading quickly in countries including the U.S., India and Mexico. President Donald Trump's Warp Speed program has backed efforts at a number of companies, including Johnson & Johnson, Merck & Co., Pfizer Inc., Moderna Inc. and AstraZeneca Plc, to get doses as early as possible.Operation Warp Speed seeks to compress a process that is typically years long into a matter of months. The drive is being led by General Gustave Perna, who directs the U.S. Army Materiel Command, and former GlaxoSmithKline Plc executive Moncef Slaoui.Spike ProteinThe funds will help Novavax begin a final-stage study of its vaccine candidate as early as this fall, with as many as 30,000 subjects, according to the statement.The biotech company earlier secured as much as $388 million in May from the Coalition for Epidemic Preparedness Innovations, the single largest contribution from the organization at the time. The company's vaccine candi
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Jul 07, 2020
(Bloomberg) -- Delta Air Lines Inc. and United Airlines Holdings Inc. are among major airlines that may tap a federal loan program as the industry copes with the coronavirus pandemic damages, the Treasury Department announced Tuesday.Southwest Airlines Co. and JetBlue Airways Corp. have also told the agency that they may need a share of the $25 billion pandemic relief loan program that Congress allotted for the industry. Last week, the Treasury Department said that American Airlines Group Inc., Frontier Airlines, Hawaiian Airlines, SkyWest, and Spirit Airlines also indicated that they may take the federal aid, with American confirming it would borrow the funds. An undisclosed amount is available to the airlines "if they so choose," Treasury Secretary Steven Mnuchin said in a statement.The government's loan program is designed as a backstop and the companies still have the option to look for private financing, or forgo the loan completely, according to the Treasury Department.The loans come with strings attached, including curbs on executive pay, a government stake and limits on payroll reduction."These airlines are among the companies most heavily affected by the disruptions to social and economic activity caused by the pandemic," Mnuchin said in the statement.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.
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Jul 07, 2020
Corvus Pharmaceuticals Inc. (CRVS) shares shot up 115% on Tuesday after the clinical-stage biopharma company said that it has initiated a Phase 1 study to investigate a novel immunotherapy approach for patients with COVID-19.The stock surged to $5.85 in early morning trading. Novavax reported that the first cohort of 5 patients enrolled in the study was treated at Temple University Hospital in Philadelphia. The initiation follows the U.S. Food and Drug Administration's (FDA) review and approval of the company's investigational new drug (IND) application for the COVID-19 study. The trial will evaluate anti-viral antibody response in up to 30 COVID-19 patients with mild to moderate symptoms.Corvus is studying an agonistic (immunostimulatory) humanized monoclonal antibody, CPI-006, which has demonstrated a potential new approach to immunotherapy of infectious diseases and cancer. In both in vitro and in vivo studies in cancer patients, CPI-006 has demonstrated binding to various immune cells and the inducement of a humoral adaptive immune response leading to the production of antigen-specific immunoglobulin antibodies. The use of CPI-006 has also led to increased levels of memory B cells, which are the cells responsible for long-term immunity.Corvus reported that a similar production of antibodies and memory cells to pathogens such as severe acute respiratory syndrome coronavirus 2, the virus that causes COVID-19, may provide immediate and long-term clinical benefits for
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Jul 07, 2020
(Bloomberg) -- Sunrun Inc., America's biggest rooftop-solar company, is set to become a behemoth through a $1.46 billion takeover of its rival Vivint Solar Inc. Shares of both companies surged.The agreement announced late Monday is one of the industry's biggest. It comes after Tesla Inc.'s 2016 purchase of debt-plagued SolarCity Corp. and the failed 2015 acquisition of Vivint by SunEdison Inc., the clean-energy giant that went bankrupt soon after.The second major U.S. energy deal in as many days -- following Berkshire Hathaway Inc.'s $4 billion purchase of Dominion Energy Inc. assets -- also threatens to further weaken Tesla's grip on the rooftop-solar market and could inspire more sector consolidation. Sunrun and Vivint combined provide about 75% of new residential solar leases each quarter, according to BloombergNEF."Sunrun will be freaking big," Joe Osha, an analyst at JMP Securities, said in an interview. "They are clearly looking for ways to get scale and efficiency."Sunrun shares rose 16% at 9:44 a.m. in New York. Vivint climbed 29%.The deal, subject to approvals, values Blackstone Group Inc.-backed Vivint at $3.2 billion including debt. It comes as America's rooftop-solar industry works its way back from the worst of the coronavirus pandemic. Door-to-door sales -- a key marketing strategy for installers -- practically ceased as states imposed lockdowns, while installations were slowed or canceled."Now was a perfect time because we have been through the Covid test," Sunrun Chief Executive Officer
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Jul 07, 2020
Shares in Novavax (NVAX) are currently jumping 42% in pre-market trading after the biotech company said that it has been granted $1.6 billion by the U.S. government to fund the development of a potential coronavirus vaccine.The stock is soaring to $116.53 in Tuesday's pre-market trading as Novavax announced that it has been selected to participate in Operation Warp Speed (OWS), a U.S. government program that seeks to begin supplying millions of doses of a safe, effective vaccine for COVID-19 in 2021. As part of the program, Novavax has been awarded with the funding to complete its late-stage clinical development, including a pivotal Phase 3 clinical trial of its COVID-19 candidate NVX-CoV2373 and supply 100 million doses of the vaccine as early as late 2020."The pandemic has caused an unprecedented public health crisis. We are honored to partner with Operation Warp Speed to move our vaccine candidate forward with extraordinary urgency in the quest to provide vital protection to our nation's population," said Novavax CEO Stanley C. Erck. "We are grateful to the U.S. government for its confidence in our technology platform, and are working tirelessly to develop and produce a vaccine for this global health crisis."NVX-CoV2373 consists of a stable, prefusion protein made using its proprietary nanoparticle technology and includes Novavax' proprietary Matrix-M adjuvant. In May, Novavax initiated a Phase 1/2 clinical trial of NVX-CoV2373 in 130 healthy participants 18 to 59 years of age b
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Jul 07, 2020
American Airlines is telling the U.S. Department of Transportation your pet dog cannot apply for a credit card. Nor can you apply for a credit card using other fraudulent means. Lawyers for the airline made that clear this week in a 53-page document alleging some loyalty program members recently took part in an "elaborate scheme […]
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Jul 07, 2020
Stock futures fell Tuesday morning, with the S&P 500 poised to snap a five-day winning streak as investors considered prospects of a drawn-out economic recovery alongside an ongoing rise in virus cases.
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Jul 07, 2020
Microsoft Corp. (MSFT) is reportedly interested in buying the gaming unit of Warner Bros-owned AT&T Inc. (T) to ramp up the game-making capabilites of its Xbox devices.The Information reported on Monday, citing two people familiar with the matter, that AT&T hasn't yet decided whether to sell the Interactive Entertainment gaming division that owns popular videogame "Mortal Kombat".The interest comes as Microsoft is poised to announce a new lower-tier Xbox to accompany its upcoming console release of the Xbox Series X this fall.Reported on June 26, by The Verge, a leaked Microsoft document revealed plans for a lesser-powered next-gen Xbox console reportedly called the Xbox Series S. The console would utilize the main aspects of the more powerful Xbox Series X but with plans to sell it at a lower price.Warner Bros.' gaming unit is made up of 10 game studios including TT Games, and owns the "Scribblenauts" series. It was snapped up by AT&T as part of the $109 billion Time Warner deal which closed in 2018.AT&T has been looking into asset sales to cut down on its $154 billion debt pile. Other potential buyers for the gaming unit include Take Two Interactive (TTWO), Electronic Arts (EA) and Activision Blizzard (ATVI). CNBC last month reported that AT&T was considering selling the gaming unit in a deal that could be worth about $4 billion.Shares in AT&T are currently trading down 22% year-to-date with analysts being cautiously optimistic on the stock. The Moderate Buy cons
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Jul 07, 2020
Top news and what to watch in the markets on Tuesday, July 7, 2020.
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Jul 07, 2020
Yahoo Finance's Ines Ferre speaks with hispanic small business owners about their struggle to stay afloat with COVID-19 lockdown measures still in place.
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Jul 07, 2020
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
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Jul 07, 2020
Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 44 cents, or 1.02%, to $42.66, by 0935 GMT, after hitting a high of $43.19. U.S. West Texas Intermediate (WTI) crude futures fell 53 cents, or 1.3%, to $40.10 a barrel, after a high of $40.79.
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Jul 07, 2020
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
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Jul 07, 2020
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
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Jul 07, 2020
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
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Jul 07, 2020
Taking the occasional loss comes part and parcel with investing on the stock market. And there's no doubt that Air...
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Jul 07, 2020
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]
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Jul 07, 2020
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
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Jul 07, 2020
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]
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Jul 07, 2020
Top news and what to watch in the markets on Tuesday, July 7, 2020.
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Jul 07, 2020
(Bloomberg Opinion) -- Transparency and public trust are essential to effective bank regulation. These guiding principles were severely compromised in the years leading up to the 2008 financial crisis. Instead of simple, straightforward metrics of bank solvency, capital requirements became an exercise in gamesmanship. Regulators deferred to banks' own opaque and incomprehensible models of risk to determine how much capital they needed, deeming them "well-capitalized" when the banks were anything but. Reforms adopted after the crisis wisely added simpler, objective capital standards, complemented by stress tests that publicize whether large banks have sufficient capacity to weather severe economic conditions.Unfortunately, last month's confusing and vague pronouncements by the Federal Reserve of this year's stress test results undermined those principles. Instead of reassuring the public, they have created more uncertainty as to the strength of the banking system.Much criticism has centered on the failure of the Fed to publish bank-specific results under its "enhanced sensitivity analysis," which took into account worsening economic scenarios caused by the Covid-19 pandemic. The stress scenarios the Fed had announced in February were not as severe as the path the economy is on now. But the Fed only published bank-specific results under February's now essentially irrelevant assumptions.Less noticed, but we feel equally important, was the failure of the Fed to publish an enhanced sensitivity analysis using a simpler, more reliable measur
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Jul 07, 2020
Climate change, with more and more storms and heat waves, also has consequences for our energy supply. An international research team has now developed a new method for calculating how extreme weather affects energy systems.
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Jul 07, 2020
Shares in Otonomy, Inc. (OTIC) spiked 15% in pre-market trading after the biotech company disclosed statistical data on its vertigo drug Otividex and "positive" trial results from its Tinnitus candidateTh stock surged to $3.66 in Tuesday's pre-market trading. The biotech company said that statistical analysis demonstrated positive development of its ongoing Phase 3 clinical trial, which tests Otividex in patients with Meniere's disease, an inner ear disorder that can cause vertigo and hearing loss. "We have recently completed an extensive review of the statistical analysis model that we believe best fits the Otividex clinical data, which is characterized by approximately 40% of Otividex-treated patients having no Definitive Vertigo Days (DVD's) in month 3," said Otonomy CEO David A. Weber. "The Negative Binomial model also gives us additional power to detect a treatment benefit enabling us to comfortably reduce the target patient enrollment in the ongoing trial from 160 to 142 patients while maintaining more than 90% power."Otonomy expects to complete the enrollment of this trial during the third quarter and present the results in the first quarter of 2021.The biotech company, which is primarily focused on developing treatments for disorders of the ear that disrupt hearing, balance and connection, in a separate statement reported positive top-line results from Phase 1/2 clinical trial of OTO-313 in patients with Tinnitus, which is a percep
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Jul 07, 2020
Shares in biopharma Bellus Health (BLU) cratered 72% in Monday's trading, after the company announced disappointing topline results from its Phase 2 RELIEF trial of BLU-5937 in patients with refractory chronic cough.The Phase 2 RELIEF trial of BLU-5937 did not achieve statistical significance for the primary endpoint of reduction in placebo-adjusted cough frequency at any dose tested.However a clinically meaningful and highly statistically significant placebo-adjusted reduction in cough frequency was achieved in a pre-specified sub-group of high cough count patients (all patients at or above the baseline median average of 32.4 coughs per hour).BLU-5937 was well tolerated with no serious adverse events reported and no withdrawals due to treatment-related adverse events at any dose."While we had hoped to see more response in the lower cough patients, BLU-5937 and other P2X3 antagonists may have the most benefit in patients with a greater disease burden," stated CEO Roberto Bellini."We believe the Phase 2 data support moving BLU-5937 forward into an adaptive Phase 2b trial enriched for higher cough count patients. We expect to begin this trial in the fourth quarter of 2020" he added.RELIEF enrolled a total of 68 refractory chronic cough patients from 16 sites in the UK and US, with 52 completing both treatment periods. Sixteen patients dropped out in total, 13 due to COVID-19 difficulties and 3 with additional non-drug related discontinuations."While we are surprised/disappointed by the
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Jul 07, 2020
(Bloomberg) -- Bayer AG's plan for moving on from its Roundup legal woes hit a snag barely two weeks after it announced a settlement of claims against the weedkiller when a judge expressed skepticism over part of the proposal.U.S. District Judge Vince Chhabria wrote in a court filing Monday that a proposed system for dealing with future lawsuits over the herbicide is problematic. Shares of Bayer, which inherited the weedkiller through its purchase of Monsanto, fell as much as 6.9% in Frankfurt, the most intraday since March 23.The judge's misgivings center on a plan to create a class of future claims as part of the nearly $11 billion settlement. Any change to that portion of the proposal wouldn't necessarily affect the rest of the deal, in which the company agreed to resolve about 125,000 existing lawsuits.About 30,000 claims, contending that Roundup caused non-Hodgkin's lymphoma, are not yet subject to deals between plaintiffs and Bayer. Some U.S. plaintiffs' lawyers are vowing to file another wave of new suits that could add tens of thousands to that total.Chhabria set a July 24 hearing to consider the class-action proposal, which he said he's "tentatively inclined" to reject. That portion of the plan would establish a scientific panel to determine whether Roundup's active ingredient causes cancer, while still potentially allowing users of the herbicide to press claims.Concerned InvestorsThe judge's filing reinforces concerns from investors that Bayer's Roundup deal isn't enough to get it beyond the mountain of litigation,
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Jul 07, 2020
The new technology, dubbed Open Radio Access Network (Open RAN), aims to reduce reliance on any one vendor by making every part of a telecom network interoperable and allowing operators to choose different suppliers for different components. As part of the implementation plan, Nokia plans to deploy Open RAN interfaces in its baseband and radio units, a spokesman said.
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Jul 07, 2020
(Bloomberg) -- China's equity market is firmly in the spotlight after an almost unprecedented rally that helped lift global stocks to a one-month high.The speed of the past week's gains in China is in many ways unseen since the stock bubble that burst five years ago. Monday's surge alone added more than $460 billion to Chinese stock values, behind just one day in July 2015 as the biggest increase in shareholder wealth since the global financial crisis.The advance continued on Tuesday, though at a slower pace. The CSI 300 Index rose as much as 2.1% to extend its five-year high, with trading volume more than three times the three-month full-day average. The offshore yuan strengthened past 7 per dollar for the first time since March.China's state media struck a more measured tone on Tuesday, after earlier publishing commentaries that highlighted the case for buying shares. Two newspapers urged investors to be rational: the Securities Times -- one of China's most widely circulated financial publications -- said investors should be mindful of potential risks and not use the market as way to make a fortune overnight."The market will likely consolidate after strong rallies, especially as big caps have outperformed smaller peers by a big margin in the past week," said Shen Zhengyang, an analyst with Northeast Securities Co. "Regulators wouldn't want to see rapid gains in the market either. But there remain plenty of opportunities, and investors will continue to rotate into some laggards so the uptrend is s
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Jul 07, 2020
(Bloomberg) -- Leaving behind the waters of the Caribbean Sea, the 1,100-feet long oil tanker Maran Apollo is emblematic of the wider petroleum market.Steaming at 11.5 knots, she's heading toward China, where oil demand is fast recovering, hauling a cargo of two million barrels of U.S. crude. But her voyage didn't start a few days ago. She loaded in early May, and with no buyers during the worst of the coronavirus outbreak, the supertanker stood floating in the U.S. Gulf of Mexico for almost two months, waiting for better times.Only a few days ago, she weighed anchor and left for the Chinese port of Rizhao -- a sign that refiners are starting to pull in crude that went unwanted for months.It's not any kind oil on board, though. Refiners are competing for barrels in one corner of the market known as medium-heavy sour crude -- barrels with a higher content in sulfur and relatively dense. It's the kind of oil that Saudi Arabia and its allies pump. And also the type of crude that's pumped offshore in the U.S. Gulf of Mexico -- and that's what's in the Maran Apollo's tanks.Like the wine industry, the oil market has its own vintages: global refiners seek their barrels much like connoisseurs covet bottles of Bordeaux and Burgundy. Urals of Russia and Arab Light from Saudi Arabia are normally two of the most widely consumed -- think Cabernet Sauvignon, maybe a Merlot. But in today's oil market, such crude is in increasingly short supply due to record output cuts by the two nations and their allies."Deep OPEC cuts an
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Jul 06, 2020
(Bloomberg) -- Once high-flying Chinese game-streaming platform Chushou TV has shuttered, becoming the latest casualty in a market increasingly dominated by Tencent Holdings Ltd.The mobile-focused streaming network's demise on July 2 comes just two years after it received $120 million in investment from backers including Alphabet Inc.'s Google. The company, whose name translates as "tentacle," has asked streamers who play exclusively on the platform to switch to Tencent-backed video-sharing app Kuaishou, according to an in-app notice viewed by Bloomberg News. Chushou and Google representatives didn't respond to requests for comment sent via email.Chushou's downfall further underscores Tencent's supremacy in China's game-streaming market, which iResearch estimates will generate 23.6 billion yuan ($3.4 billion) in revenue by the end of this year. Now, Tencent effectively controls the two largest platforms -- Huya Inc. and DouYu International Holdings Ltd. -- and has its own esports site eGame. In addition, the social media behemoth has stakes in fast-growing video services Kuaishou and Bilibili Inc., both of which are vying for more gaming content. Chushou said in 2018 it had 8 million unique streamers and 90 million registered users on its platform.Read more: The Billion-Dollar Race to Become China's Amazon TwitchChina's streaming companies live and die on fans splurging on virtual gifts to tip performers, leading to bidding wars over the top professional gamers and putting an enormous strain on smaller platf
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Jul 06, 2020
(Bloomberg) -- The parent company of TheStreet Inc., a financial news website co-founded by media personality Jim Cramer, received a $5.7 million loan as part of a program aimed at helping U.S. small businesses weather the pandemic.The loan was included in documents released by the federal government on Monday chronicling the $669 billion Paycheck Protection Program. A spokesman for TheMaven Inc., which acquired TheStreet in 2019 for $16.5 million, said that for "ease-of-process" reasons the borrowing was taken out under TheStreet's name, but that it was for the entire consolidated company, which owns media properties such as Sports Illustrated.Cramer, who still supplies content to TheStreet under a deal that followed its acquisition by TheMaven, has been critical of how banks handled the Paycheck Protection Program. In April, he slammed financial institutions for approving loans to larger companies than should have been allowed. A spokesperson for CNBC, where Cramer hosts a TV show, didn't immediately respond to a request for comment.Bloomberg News, part of Bloomberg LP, competes with both TheStreet and CNBC in providing financial news.In June, TheMaven forecast that sales would be more than $115 million this year. It first disclosed that it was taking out the loan in a filing in May.Another news outlet, Axios, which covers finance, government and politics, returned its loan from the Small Business Administration's stimulus program after it became public.Other media businesses have tapped the loans, inclu
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Jul 06, 2020
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
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Jul 06, 2020
SiriusXM is closing in on a deal to acquire E.W. Scripps Co.'s Stitcher podcast production, distribution and advertising unit, Variety has confirmed. SiriusXM's deal for Stitcher would be worth about $300 million, according to the Wall Street Journal, which first reported the news. Scripps bought Stitcher for $4.5 million in 2016 and combined it with […]
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Jul 06, 2020
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]
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Jul 06, 2020
Main Street: Betrayed by Justice John Roberts, some despair of getting justices who will follow the law. Images: Getty Images Composite: Mark Kelly
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Jul 06, 2020
(Bloomberg) -- It was once the center of America's shale boom -- a vast reservoir of crude unleashed by hydraulic fracturing and horizontal drilling, turning North Dakota into the second-largest oil producer in the U.S. and helping transform the nation into the world's largest supplier.These days, the Bakken is looking like anything but a boom. Drilling in the once-prolific shale formation straddling North Dakota, Montana and parts of Canada has all but halted -- another victim of the pandemic that sapped fuel demand worldwide. Output is believed to have fallen by as much as half a million barrels a day this year. Even before the virus, drillers there were struggling to compete with fast-improving margins in Texas's Permian Basin. Now, the looming shutdown of the Dakota Access pipeline that carries more than a third of the region's oil to market threatens to keep the play from booming ever again."This court ruling will create major obstacles for producers in North Dakota, who've been struggling to rebound," said Sandy Fielden, director of research for Morningstar Inc. The buyers of Bakken crude, he said, will simply turn elsewhere for supplies once the pipeline dries up.On Monday, a U.S. district court ruled that Energy Transfer LP's Dakota Access pipeline will have to shut by Aug. 5. If the ruling survives appeals, it would be the first time a major pipeline in service was ordered shut because of environmental concerns. Exactly how long it will be down is unclear -- the court has decided
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Jul 06, 2020
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
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Jul 06, 2020
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
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Jul 06, 2020
E-commerce platform Shopify (SHOP) joined the $1,000 per share club last week, symbolically reaching the landmark on Canada Day. The Ottawa-based company has delivered a strong performance in 2020, with shares up by a remarkable 159% year-to-date. Given this impressive rally, should investors reduce exposure to the e-commerce highflyer?No, is the succinct answer from Baird analyst Colin Sebastian.While the lofty valuation is "still the biggest investor pushback," the 5-star analyst believes there still remains a large untapped TAM (total addressable market) that Shopify has yet to penetrate.Sebastian said, "Shopify has made our list of favorite stocks each year since initiating coverage in early 2016. In our view, there are scarce few (if any) public software companies as closely tied to the enormous e-commerce share shift, with an established leadership position, and world-class product and engineering. Moreover, we see multiple incremental revenue drivers ahead from new paid services, new partnerships (e.g., WMT) and consumer facing technology (Shop app)."It's no secret that as the coronavirus raged across the globe, the e-commerce sector benefitted.COVID-19 has sped up what was already an underlying shopping trend - the move to online. Sebastian estimates this will result in an "incremental shift of roughly $200 billion in annual retail spend in the U.S. from offline to online channels."Shopify, PayPal and Amazon make up roughly 80% of e-commerce volume in the U.S. This means that Shopify stands t
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Jul 06, 2020
The U.S. Labor Department's monthly Job Openings and Labor Turnover (JOLTS) survey and Levi Strauss earnings will be in focus Tuesday.
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Jul 06, 2020
Investors of MEI Pharma (MEIP) trudged off to the 4th of July celebrations in a downbeat mood. In last week's final session, shares declined by 18.5%.The announcement that MEI and its collaboration partner, the Helsinn Group, prematurely ended a Phase 3 trial of pracinostat in acute myeloid leukemia (AML) was to blame for the sell-off. Interim data showed that the candidate's use most likely won't lead to better overall survival rates for AML patients.While the news was greeted by surprise at investment firm BTIG, the trial's abrupt ending does not overly concern company analyst Thomas Shrader.Contributing only 6% to the 5-star analyst's model for the biotech, Shrader has another reason "patients and investors should care." This reason is MEI's potential treatment for patients with relapsed or refractory follicular lymphoma (FL), which is currently in a Phase 2 trial.With the trial ongoing and expected to be fully enrolled by 1H21, Shrader's base case involves the approval of ME-401 for FL in 2021. While MEI-401 is a PI3 delta inhibitor and belongs to a class of drugs that has been considered risky in the past, recent data supports Shrader's bullish thesis."Overall, we see ME-401 in a good place in the B-Cell malignancy landscape with a very powerful PI3K inhibitor they have learned to dose safely at a time when powerful drugs are increasingly viewed favorably in earlier lines. The drug's non-overlapping safety profile with other's in the overall B-Cell malignancy arena (BTK and MDM-2 inhibitor
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Jul 06, 2020
(Bloomberg) -- Remember when Tesla Inc.'s market value surpassed General Motors Co.? That was just in October, though investors can't be blamed for thinking it was a lifetime ago.The electric vehicle maker's valuation has added the combined value of the Detroit Three -- GM, Ford Motor Co. and Fiat Chrysler -- in just five trading days through Monday. Tesla has grown by an average $14 billion on each of those days.Tesla shares have been on a searing rally this year, recovering spectacularly from a steep pandemic-related sell-off, helped most recently by second-quarter delivery numbers that exceeded estimates. In the past week, the company has roughly gained the value of Fiat Chrysler Automobiles NV every single day.While skeptics have said the stock's current pace is detaching from reality and being fueled by the "power of the narrative," believers abound."There is definitely a significant retail component that is driving shares higher," Wedbush Securities analyst Daniel Ives said in an interview, referring to individual investors trading on platforms such as Robinhood.Still, a lot of big institutional investors now also want a piece of Tesla and the electric vehicle market, he said. "In a Covid-19 pandemic and a dark macro environment, the company just put up a 90,000 delivery number, especially when other automakers are seeing herculean challenges."Tesla said July 2 it delivered 90,650 cars in the second quarter, which compared with analysts' average estimate for about 83,000 units.The eagerness of big money to get into Tesla was also noted
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Jul 06, 2020
(Bloomberg) -- The parent company of TheStreet Inc., a financial news website co-founded by media personality Jim Cramer, received a $5.7 million loan as part of a program aimed at helping U.S. small businesses weather the pandemic.The loan was included in documents released by the federal government on Monday chronicling the $669 billion Paycheck Protection Program. A spokesman for TheMaven Inc., which acquired TheStreet in 2019 for $16.5 million, said that for "ease-of-process" reasons the borrowing was taken out under TheStreet's name, but that it was for the entire consolidated company, which owns media properties such as Sports Illustrated.Cramer, who still supplies content to TheStreet under a deal that followed its acquisition by TheMaven, has been critical of how banks handled the Paycheck Protection Program. In April, he slammed financial institutions for approving loans to larger companies than should have been allowed. A spokesperson for CNBC, where Cramer hosts a TV show, didn't immediately respond to a request for comment.Bloomberg News, part of Bloomberg LP, competes with both TheStreet and CNBC in providing financial news.In June, TheMaven forecast that sales would be more than $115 million this year. It first disclosed that it was taking out the loan in a filing in May.Another news outlet, Axios, which covers finance, government and politics, returned its loan from the Small Business Administration's stimulus program after it became public.For more articles like this, please visit
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Jul 06, 2020
Over the past five years, shares of semiconductor stocks have been on an absolute tear. As a result, the PHLX Semiconductor Sector Index (SOX) has added 191% over the period, with several names notching gains of close to 2,000% (AMD, Nvidia). Lagging behind most is industry giant Qualcomm (QCOM). Over the same five-year period, QCOM shares have appreciated by only 46%.There have been various headwinds hampering the semiconductor player's progress. A run in with Apple regarding patent and licensing issues, a Federal Trade Commission led antitrust case, the US - China trade war - are just a few of the hurdles Qualcomm has encountered.However, what this all means, according to Canaccord analyst Michael Walkley, is that QCOM's current share price "is compelling." So, what's driving Walkley's bullish outlook?The 5-star analyst explained, "We believe Qualcomm has a strong leadership position for 5G that should not only result in strong share gains with leading smartphone OEMs but also provide an opportunity of up to 1.5x the dollar content of a similar 4G customer smartphone due to a combination of increased RF content and higher pricing for 5G basebands versus premium-tier 4G solutions."After a difficult 1H20, smartphone volumes are staging a turnaround, and are expected to further improve as the year progresses. As Walkley said, a major catalyst for QCOM is the upcoming 5G cycle, which the analyst believes will have a meaningful impact and ultimately lead to "recovering earnings in F2021."Apple's iPh
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Jul 06, 2020
(Bloomberg) -- Venezuela's long gas station lines are coming back after a short reprieve from shipments of Iranian fuel in May as the country struggles to repair its ailing refineries.Lines at the pump had disappeared following the arrival of five Iranian tankers in May, carrying a total of 1.5 million barrels of fuel. Relief is unlikely to return without more fuel imports from abroad.Domestic gasoline production was also rising with the help of technicians from Iran who spent two months in the country inspecting and repairing refineries, according to people familiar with the matter who asked not to be identified because the information isn't public. The engineers left the country last week, one of the people said.Progress in restoring fuel production was further set back after the Cardon plant halted production due to mechanical issues and a fire.Even gas stations at Falcon state, home to the Paraguana refining complex, one of the largest in the region, have had to shut. "Some gas stations are once again receiving less fuel shipments and other have had to close for several days a week," said Ana Maria Urdaneta who heads the gas stations in the Caracas area.The U.S. continues to enforce sanctions on the country, reducing the likelihood of imports from abroad. Last week, the U.S. sought legal permission to seize all petroleum cargoes aboard four Iranian vessels headed to Venezuela. Iran and Venezuela have insisted in their right to trade, defying U.S. willingness to force regime change in Caraca
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Jul 06, 2020
Stock futures opened slightly lower Monday evening following another strong session of gains earlier in the day.
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Jul 06, 2020
JPMorgan says a Biden win in November may be good for markets. Yahoo Finance's Rick Newman joins The Final Round to discuss.
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Jul 06, 2020
JoAnne Feeney, Partner and Portfolio Manager at Advisors Capital Management, joins The Final Round to discuss her top picks in the tech sector and areas to look for opportunity.
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Jul 06, 2020
Democrats and Republicans have voiced increasing antipathy over Section 230 -- and it could mean costly political trouble for Facebook, YouTube and Twitter.
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Jul 06, 2020
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
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Jul 06, 2020
Plexiglass orders are flying off the shelves as millions of students potentially return to school amid the coronavirus pandemic.
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Jul 06, 2020
'You might also see that the dominance of the U.S. markets will start to fade away,' says Jeffrey Gundlach.
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Jul 06, 2020
On Monday, JMP Securities analyst Joseph Osha raised his price target on shares of Tesla to a fresh street high of $1,500. The bullish call comes on the heels of the company's better-than-expected Q2 delivery numbers, and the firm thinks Tesla still has more room to grow. Osha joins The Final Round to discuss his bullish call, as well as his outlook for the electric carmaker.
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Jul 06, 2020
The impact of COVID-19 is still being felt within markets. Sam Stovall, Chief Investment Strategist at CFRA joins The Final Round to break down what that might look like in Q2.
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Jul 06, 2020
(Bloomberg) -- Remember when Tesla Inc.'s market value surpassed General Motors Co.? That was just in October, though investors can't be blamed for thinking it was a lifetime ago.The electric vehicle maker's valuation has added the combined value of the Detroit Three -- GM, Ford Motor Co. and Fiat Chrysler -- in just five trading days through Monday. Tesla has grown by an average $14 billion on each of those days.Tesla shares have been on a searing rally this year, recovering spectacularly from a steep pandemic-related sell-off, helped most recently by second-quarter delivery numbers that exceeded estimates. In the past week, the company has roughly gained the value of Fiat Chrysler Automobiles NV every single day.While skeptics have said the stock's current pace is detaching from reality and being fueled by the "power of the narrative," believers abound."There is definitely a significant retail component that is driving shares higher," Wedbush Securities analyst Daniel Ives said in an interview, referring to individual investors trading on platforms such as Robinhood.Still, a lot of big institutional investors now also want a piece of Tesla and the electric vehicle market, he said. "In a Covid-19 pandemic and a dark macro environment, the company just put up a 90,000 delivery number, especially when other automakers are seeing herculean challenges."Tesla said July 2 it delivered 90,650 cars in the second quarter, which compared with analysts' average estimate for about 83,000 units.The eagerness of big money to get into Tesla was also noted
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Jul 06, 2020
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]
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Jul 06, 2020
Out on the Street, it's full speed ahead. Despite the chaotic events of 2020, the S&P 500, which is coming off of its best quarter in more than 20 years, is down by only 2% year-to-date. Somewhat remarkably, the market has continued to charge forward as the number of new COVID-19 cases surges. As COVID-19 could be with us in waves for some time, there's plenty of uncertainty going forward into the second half of the year. Consequently, spotting compelling plays can feel like a fool's errand, especially given the hefty toll the virus has already taken on companies spanning multiple sectors.Having said that, the Street's pros argue that the pandemic has actually positioned some names as beneficiaries. Looking specifically at the biotech sector, massive amounts of capital have been pumped into a handful of names racing to develop solutions to combat the virus.Bearing this in mind, we used TipRanks' database to get more information on three biotech penny stocks, trading for less than $5 per share, that are poised for COVID-related gains. While these tickers are risky in nature, the investing platform revealed that each has earned a Moderate or Strong Buy consensus rating from the analyst community and boasts substantial upside potential. CTI BioPharma Corporation (CTIC)Focused on the development of innovative therapies, CTI BioPharma wants to address the unmet medical needs of patients. Given the potential of its COVID-19 treatment and its $1.18 share price, it's no wonder this healthcare name is on Wall S
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Jul 06, 2020
Out on the Street, it's full speed ahead. Despite the chaotic events of 2020, the S&P 500, which is coming off of its best quarter in more than 20 years, is down by only 2% year-to-date. Somewhat remarkably, the market has continued to charge forward as the number of new COVID-19 cases surges. As COVID-19 could be with us in waves for some time, there's plenty of uncertainty going forward into the second half of the year. Consequently, spotting compelling plays can feel like a fool's errand, especially given the hefty toll the virus has already taken on companies spanning multiple sectors.Having said that, the Street's pros argue that the pandemic has actually positioned some names as beneficiaries. Looking specifically at the biotech sector, massive amounts of capital have been pumped into a handful of names racing to develop solutions to combat the virus.Bearing this in mind, we used TipRanks' database to get more information on three biotech penny stocks, trading for less than $5 per share, that are poised for COVID-related gains. While these tickers are risky in nature, the investing platform revealed that all of these Buy-rated tickers have been flagged by some analysts for their huge potential.CTI BioPharma Corporation (CTIC)Focused on the development of innovative therapies, CTI BioPharma wants to address the unmet medical needs of patients. Given the potential of its COVID-19 treatment and its $1.18 share price, it's no wonder this healthcare name is on Wall Street's radar.CTIC scored major investor attent
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Jul 06, 2020
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...
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Jul 06, 2020
The U.S. Labor Department's monthly Job Openings and Labor Turnover (JOLTS) survey and Levi Strauss earnings will be in focus Tuesday.
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Jul 06, 2020
(Bloomberg) -- Remember when Tesla Inc.'s market value surpassed General Motors Co.? That was just in October, though investors can't be blamed for thinking it was a lifetime ago.The electric vehicle maker's valuation has added the combined value of the Big Three -- GM, Ford Motor Co. and Fiat Chrysler -- in just five trading days through Monday. Tesla has grown by an average $14 billion on each of those days.Tesla shares have been on a searing rally this year, recovering spectacularly from a steep pandemic-related sell-off, helped most recently by second-quarter delivery numbers that surpassed market estimates. In the past week, the company has roughly gained the value of Fiat Chrysler Automobiles N.V. every single day.While skeptics have said the stock's current pace may be getting detached from reality and is instead being fueled by the "power of the narrative," many believers abound."There is definitely a significant retail component that is driving shares higher," Wedbush Securities analyst Daniel Ives said in an interview, referring to individual investors trading on platforms such as Robinhood.Still, a lot of big institutional investors now also want a piece of Tesla and the electric vehicle market, he said. "In a Covid-19 pandemic and a dark macro environment, the company just put up a 90,000 delivery number, especially when other automakers are seeing herculean challenges."Tesla said July 2 it delivered 90,650 cars in the second quarter, which compared with analysts' average estimate for about 83,000 units.The eagerness of big money
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Jul 06, 2020
Tesla Inc (NASDAQ: TSLA) shares ripped higher by another 10% on Monday as the Wall Street buying frenzy surrounding electric vehicle stocks continued. Earlier this month, Tesla reported its second-quarter vehicle deliveries were down about 5% from a year ago, yet Tesla's market cap has exploded from around $40 billion a year ago to $245 billion today.Tesla has the single largest short position of any U.S. stock, according to S3 Partners. And while short sellers pound the table on how detached the stock has come from reality, Tesla is a textbook example of how much more dangerous it is for traders to short a stock than go long.Risk-Reward Balance And FeesThe primary reason short selling is more dangerous than buying is potential risk versus potential reward.When an investor buys a stock, risk is capped at 100% of the investment. A stock price can't go lower than $0, and rarely does it even come close. At the same time, potential upside is unlimited, and stocks often gain 150% or even 200% in a matter of a few years. Tesla shares are up 468% in the past 12 months.When a trader shorts a stock, that risk-reward balance is reversed, creating a situation where potential gains are capped at 100% but potential losses are unlimited.On top of that elevated risk level, short sellers must also deal with borrowing fees. For most liquid stocks like Tesla, these fees are relatively small, but they eat into any potential profits and add to any losses.On top of borrow fees, short sellers are requ
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Jul 06, 2020
The day's jump increased Tesla's stock market value by $30 billion, eclipsing the entire value of Ford Motor Co , currently at $25 billion. JMP Securities increased its price target to $1,500 from $1,050 after Tesla on Thursday reported higher-than-expected second-quarter vehicle deliveries, defying plummeting sales in the wider auto industry as the coronavirus pandemic slammed the global economy. "We believe that the question to be considered is not whether the stock is expensive on current valuation measures, but what the company's growth and competitive position signal about the stock's potential for the next several years," JMP Securities analyst Joseph Osha wrote in a client note.
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Jul 06, 2020
With Biden surging ahead of President Trump in 2020 election polls, investors are beginning to worry that a Biden presidency could end the market-friendly policies Trump has propagated. Yahoo Finance's Rick Newman and Kristin Myers discuss.
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Jul 06, 2020
JPMorgan and Goldman Sachs both published surprisingly sanguine analyses of Biden's policies recently, signaling that Wall Street is warming to Biden. "The consensus view is that a Democrat victory in November will be a negative for equities," JPMorgan strategists wrote on July 6. "However, we see this outcome as neutral to slight positive." Yahoo Finance's Rick Newman and Kristin Myers discuss.
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Jul 06, 2020
If you want to know who really controls Soliton, Inc. (NASDAQ:SOLY), then you'll have to look at the makeup of its...
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Jul 06, 2020
And just like that, the tides have turned for Inovio Pharmaceuticals (INO). Shares of the high-flying biotech dropped last week by 31%, the vast majority of which came after the release of interim data from the early stage trial of its COVID-19 vaccine candidate, INO-4800.You could chalk the dip up to a classic case of "buy the rumor, sell the news," but this sell-off was slightly more nuanced, with the lack of a clear good/bad story leaving a lot to interpretation.The company said that after giving participants two doses of the vaccine, 94% "demonstrated overall immune responses." What probably concerned investors was the fact that finer immune response details were missing. Specifically, how many patients produced neutralizing antibodies that could prevent a COVID-19 infection. This looks bad when compared to Pfizer/BioNTech, as they published a richly detailed report of their candidate's progress on the same day.The full data is expected to be published in a medical journal in the near future. Meanwhile, at investment firm Maxim, analyst Naureen Quibria believes the data was "positive."The analyst said, "In truth, while we don't know what 'good' immunogenicity data should be, studies suggest that both T cell and antibody immune responses will be important for protection in both mild and serious infections, particularly given that most convalescent plasmas obtained from individuals that have recovered from COVID-19 do not appear to contain high levels of neutralizing activity (e.g., one study, published
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Jul 06, 2020
Shares of Moderna Inc (NASDAQ: MRNA), a frontrunner in the race for a coronavirus vaccine, tumbled Thursday afternoon after a STAT News report suggested there could be a delay in the initiation of a late-stage study.Moderna's July Start In Doubt: Moderna's Phase 3 trial of mRNA-1273, which was set to start next week, is likely to be delayed due to changes the Boston, Massachusetts-based company is making to the trial protocol, STAT News reported, citing investigators who spoke on the condition of anonymity.A clinical trial protocol is a document outlining all details of study, including objectives, design, methodology, statistical considerations and organization of the trial that would ensure safety of the participants and integrity of data.Moderna had guided to a July start for a Phase 3 study with about 30,000 participants.Following the STAT News report, a statement posted on Moderna's Twitter handle suggested the Phase 3 trial initiation timeline is intact. July 2 statement from Moderna pic.twitter.com/3AZIFKlSyf -- Moderna (@moderna_tx) July 2, 2020In mid-June, Moderna CEO Stephane Bancel told Bloomberg that the company plans to have efficacy data as early as Thanksgiving if all goes to plan.The company announced early data from the NIAID-sponsored Phase 1 trial in mid-May and is also running a company-led Phase 2 trial.Pfizer's Program Picks Up Pace: Large-cap pharma Pfizer Inc. (NYSE: PFE), whic
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Jul 06, 2020
Wedbush Securities Chief Technology Strategist Brad Gastwirth joins Yahoo Finance's Zack Guzman to discuss Elon Musk's recent jab at Tesla short-sellers by listing "short shorts" on the company's website.
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Jul 06, 2020
Yahoo FInance's Jessica Smith joins Zack Guzman to discuss the SBA and Treasury releasing the names of some businesses that recieved a loan from the Paycheck Protection Program.
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Jul 06, 2020
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]
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Jul 06, 2020
(Bloomberg) -- Amazon.com Inc. rallied on Monday, with the stock extending a recent advance deeper into record territory and topping $3,000 for the first time.Shares rose as much as 4.8% to touch $3,030.30, and were on track for their fourth straight daily gain. The stock is up more than 12% over the four-day stretch and has climbed about 80% off a March low, resulting in a market capitalization of $1.5 trillion.Amazon has seen accelerating demand for its e-commerce and cloud-computing services during the pandemic, which has closed brick-and-mortar rivals and led more people work remotely. Many analysts on Wall Street expect these trends will outlast the pandemic, solidifying the company's market share and fueling the recent advance.Despite the growing optimism, Amazon's rally has left most Wall Street analysts in the dust. Fewer than a quarter of the 50 or so analysts tracked by Bloomberg have a target above $3,000, and the average target is about $2,810. While that is up from the $2,179 average at the end of 2019, it still implies downside of about 7% from current levels.According to an analysis of Bloomberg data, the degree to which the share price exceeds the average target is at a multi-year high.Amazon remains a consensus favorite on Wall Street. Only one firm tracked by Bloomberg recommends selling the stock, compared with the 52 that advocate buying it. Four firms have the equivalent of a hold rating.Amazon is expected to report its second-quarter results later this month.(Adds context about recent gains and anal
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Jul 06, 2020
The outlook for the nation's restaurants in the wake of COVID-19 isn't pretty, says one celebrity chef.
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Jul 06, 2020
The government on Monday identified roughly 650,000 mostly small businesses and nonprofits that received taxpayer money through a federal program that was designed to soften job losses from the coronavirus but also benefited wealthy, well-connected companies and some celebrity owned firms. The Treasury Department's Payroll Protection Program approved applicants from a broad swath of industries. Businesses owned by politicians also borrowed from the program, including a minor league baseball team owned by the family of the governor of Ohio.
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Jul 06, 2020
(Bloomberg) -- To be an energy superpower, U.S. oil and natural gas requires a suitably gargantuan pipeline network that stretches for millions of miles. The country's ability to expand that infrastructure is being tested like never before.In the span of less than 24 hours, a court ordered the Dakota Access crude oil pipeline to shut down and the developers of the Atlantic Coast gas conduit said they were canceling the project. It was a deluge of bad news for an industry that's increasingly finding that the mega-projects of the past are no longer feasible in the face of unprecedented opposition to fossil fuels and the infrastructure that supports them.Armed with experienced lawyers and record funding, environmental groups are finding enormous success blocking key pipeline permits in court. The challenges come despite support from President Donald Trump, who so far has failed to ensure big projects like Keystone XL get built."I would expect this to be a turning point for new investment," said Katie Bays, co-founder of Washington-based Sandhill Strategy LLC. "There is real investor fatigue around this parade of legal and regulatory headwinds to energy projects."Dominion Energy Inc. and its partner Duke Energy Corp. said Sunday they'll no longer pursue their $8 billion Atlantic Coast natural gas pipeline after years of delays and ballooning costs, becoming the third such project this year to be sidelined or canceled altogether amid mounting opposition to development of oil and gas.Then on Monday, a U.S. dist
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Jul 06, 2020
If you are looking for the best ideas for your portfolio you may want to consider some of Mott Capital's top stock picks. Mott Capital, an investment management firm, is bullish on Apple Inc. (NASDAQ:AAPL) stock. In its Q4 2019 investor letter - you can download a copy here - the firm discussed its investment […]
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Jul 06, 2020
Recent industry checks indicate a slowdown in PC builds in the second half of 2020, while Intel Corporation (NASDAQ: INTC) is likely to continue losing share in the client and server CPU markets, according to Goldman Sachs.The Intel Analyst: Goldman Sachs analyst Toshiya Hari downgraded Intel from Neutral to Sell and reduced the price target from $65 to $54.The Intel Thesis: Hari named six reasons for the bearish turn in a Monday downgrade note. (See his track record here.) * PC demand set to weaken: Strength in the first half of 2020 was driven by employees moving to a work-from-home environment and PC purchases to meet online learning needs for children, the analyst said. This strength does not represent a fundamental change in the market's long-term growth profile, Hari said, adding that PC demand and notebook CPU shipments may decline over the coming quarters. * Weak enterprise spending: Enterprise & Government, within Intel's Data Center Group, could come under pressure over the next few quarters as a strained economy forces Enterprise customers to spend more prudently, the analyst said. * Market share still headed south: Competitive headwinds are likely to persist as peers gain momentum in the client and server end markets, he said. * Capital intensity to stay elevated: As the manufacturing process grows in complexity, elevated capital expenditures will continue to weigh on gross margins, Hari said. * Rate of opex efficiency gains to slow: While management has already executed significant cost cuts, Intel will need to invest to d
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Jul 06, 2020
If you are looking for the best ideas for your portfolio you may want to consider some of Mott Capital's top stock picks. Mott Capital, an investment management firm, is bullish on Tesla Inc. (NASDAQ:TSLA) stock. In its Q4 2019 investor letter - you can download a copy here - the firm discussed its investment […]
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Jul 06, 2020
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of ConocoPhillips...
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Jul 06, 2020
'You might also see that the dominance of the U.S. markets will start to fade away,' says Jeffrey Gundlach.
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Jul 06, 2020
Tilray, Inc.'s (NASDAQ:TLRY): Tilray, Inc. engages in the research, cultivation, processing, and distribution of...
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Jul 06, 2020
Let's talk about keeping safe. It's a topic we can all relate to, these days, as reports of the coronavirus crisis continue to come in. Cases are rising in the wake of economic reopenings and wide-spread protests, but the fatality rate of the disease appears lower than had initially been feared. Still, social distancing seems to be the order of the day, as a precaution.You can stay safe in your investing, too. ‘Safe' dividends come from companies that managed to avoid payout cuts during the height of the corona crisis - an important point, as many previously reliable dividends were suspended or slashed in recent weeks. They also feature low payout ratios, indicating that the paying company can easily afford them. Using TipRanks database, we've pinpointed three 'safe' dividend stocks with yields starting at 5%, an upside potential starting at 25%, and ‘Moderate or Strong Buy' consensus rating from Wall Street's analyst corps. These are stocks that will both grow the portfolio and provide a steady income - and success on multiple fronts is a key strategy to surviving a difficult market environment.Xperi Corporation (XPER)First on the list is a Silicon Valley tech licensing company, Xperi. The company made news late last year when it merged with TiVo, with combined entity using the Xperi name. That merger was completed on June 1 of this year. Xperi has its hands in communications, data storage, memory, and mobile computing, among other fields, and its licensed products are found in the automotive, imaging, and semiconductor in
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Jul 06, 2020
Keep an on the very long-term when it comes to investing, says this veteran strategist.
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Jul 06, 2020
Jefferies Global Equity Strategist Sean Darby joins the On the Move panel to discuss the latest market action and what to expect as earnings season looms.
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Jul 06, 2020
A look at the shareholders of Wrap Technologies, Inc. (NASDAQ:WRTC) can tell us which group is most powerful. Insiders...
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Jul 06, 2020
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...
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Jul 06, 2020
If you are looking for the best ideas for your portfolio you may want to consider some of Third Point's top stock picks. Third Point, an investment management firm, is bullish on Sony Corp (NYSE:SNE) stock. In its Q4 2019 investor letter - you can download a copy here - the firm discussed its investment […]
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Jul 06, 2020
Jul.06 -- Michael Arougheti, Ares Management chief executive officer, discusses the new $3.5 billion Ares Special Opportunities Fund LP, which is designed to sweep up debt and equity of companies hurt by the coronavirus pandemic. He speaks with Bloomberg's Erik Schatzker on "Bloomberg Markets." (Video edited to remove incorrect graphic.)
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Jul 06, 2020
The government on Monday identified roughly 650,000 mostly small businesses and nonprofits that received taxpayer money through a federal program that was designed to soften job losses from the coronavirus but also benefited wealthy, well-connected companies and some celebrity owned firms. The Treasury Department's Payroll Protection Program approved applicants from a broad swath of industries. Businesses owned by politicians also borrowed from the program, including a minor league baseball team owned by the family of the governor of Ohio.
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Jul 06, 2020
Alibaba cleared a 231.24 buy point from a consolidation going back to January. Several times BABA tried to clear early entries and never really got going. RS line making progress, above s-t peak but still well off March highs.
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Jul 06, 2020
Dexcom broke past a 415.59 cup-with-handle buy point after recently rebounding from its 50-day/10-week line. RS line not yet at highs but follows strong prior uptrend.
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Jul 06, 2020
Every investor in Cloudera, Inc. (NYSE:CLDR) should be aware of the most powerful shareholder groups. Large companies...
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Jul 06, 2020
(Bloomberg) -- As Warren Buffett moves off the sidelines for the first time since the global pandemic struck, he's sticking to the areas he knows best.Berkshire Hathaway Inc. announced an agreement Sunday to purchase Dominion Energy Inc.'s natural gas pipeline and storage assets for an enterprise value of $9.7 billion, expanding its energy empire even further. While the deal wasn't the splashy "elephant-sized" acquisition that Buffett has sought for his $137 billion cash pile, the move shows he's carefully opening Berkshire to acquisitions, according to Cathy Seifert, an analyst at CFRA Research."It represents a little bit of an opening of a valve. I don't necessarily think it's a light switch that flipped from off to on," Seifert said. The deal is a "prudent move and one that can be strategically justified and also tucked into the existing business model."Buffett has stayed relatively quiet as the Covid-19 outbreak ripped through the U.S., raising questions about whether he would find attractive deals or financing opportunities similar to the moves he pulled off in the 2008 credit crisis. In some ways, the Federal Reserve beat him to the punch, taking steps that helped swiftly unlock markets earlier this year. That meant that the opportunities Berkshire had been looking at dried up, Buffett told investors in May at his annual meeting.The deal with Dominion Energy hints that opportunities might start cropping up for his conglomerate. It also shows Buffett is willing to put some of his funds to work, d
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Jul 06, 2020
German prosecutors said on Monday they had arrested the head of a Dubai-based subsidiary of Wirecard , widening the circle of suspects in a multi-billion-dollar fraud investigation into the collapse of the payments company. The Munich prosecutor's office said in a statement it had questioned the chief executive of Cardsystems Middle East FZ-LLC earlier in the day and arrested him on the basis of a warrant. The executive had travelled from Dubai and turned himself in, prosecutors said, without naming him.
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Jul 06, 2020
Justin Waring of UBS Global Wealth Management joins Yahoo Finance's The First Trade to discuss how millennials should think about investing and who is 'winning' in this market.
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Jul 06, 2020
Yahoo Finance's Editor-in-Chief Andy Serwer joins The First Trade to discuss the latest election poll, 2020 outlook in America, how teams and brands are responding to the current civil unrest and more.
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Jul 06, 2020
U.S. steel stocks have had a tough run under President Donald Trump, but Bank of America analyst Timna Tanners says things might not get much better for steel stocks if presumptive Democratic nominee Joe Biden wins the White House in November.Biden now has a 20-point lead over Trump, according to the online prediction market PredictIt.org. While steel investors may assume a Democratic victory in November would result in the rollback of Trump's Section 232 steel and aluminum tariffs, Tanners said tariffs have historically been a nonpartisan issue. Both sides of the political aisle voiced concerns about Trump's steel tariffs.While the tariffs seemingly haven't done much to improve steel prices and margins during the Trump presidency, Tanners said Monday that removal of the tariffs at this point would have a negative impact on prices during a critical period for the industry in which it is overbuilding capacity.Other Political FactorsOne potential partisan headwind for the steel industry could be the fate of Trump's border wall with Mexico. Most of the pipe for the proposed border was expected to be delivered by the end of 2020. Tanners said Democrats would likely halt construction of the wall, but whether or not they would tear down and scrap what has already been built could have a major impact on near-term steel prices.Two additional major political catalysts could have a significant impact on the US steel industry, according to Tanners. First, Biden's plan to raise corporate tax rates from 21% to 28% would hurt steel stocks is Democrat
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Jul 06, 2020
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
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Jul 06, 2020
The Ford Bronco is making its return, after its quarter century absence. Yahoo Finance's Brian Sozzi, Alexis Christoforous, and Rick Newman discuss the details with Ford's Global Director of Icons, Dave Pericak.
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