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Yahoo BusinessOct 27, 2020
Oppenheimer: These 3 Stocks Are Poised to Surge by at Least 60%
It's down to the wire. The U.S. Presidential elections are only a week away, and with the polls showing Biden has an edge over President Trump, investors are preparing.Oppenheimer's Chief Investment Strategist John Stoltzfus points out that last week, stocks churned as investors rebalanced their portfolios, rotating and adding additional exposure to value stocks "while others took profits in growth names that had previously run-up substantially ahead of what could be higher capital gains and other taxes next year," in the event that the Democrats come out on top.Highlighting that the expectation of an effective COVID-19 vaccine is behind the broadening of investor appetite for equities, Stoltzfus argues this renewed appetite " improves the attractiveness of value stocks."Going forward, the strategist notes the Federal Reserve's efforts "underscore the case for the economy's recovery and the equity markets' resilience and potential from here." Although a "blue wave" is seen as a potential risk, Stoltzfus thinks this outcome is very unlikely, and that continued split control should alleviate market worries.Taking Stoltzfus' outlook into consideration, our attention turned to three stocks Oppenheimer analysts believe can surge by at least 70% in the year ahead. Running the tickers through TipRanks' database, we found out that each boasts a "Strong Buy" consensus rating from the broader analyst community.Chromadex (CDXC)Focused on improving the way people age, Chromadex operates as a science-based integrated

MarketWatchOct 27, 2020
Market Snapshot: Dow adds to slump after Monday selloff as broader market struggles for altitude
Stocks on Tuesday struggle for direction a day after the worst decline in more than a month due at least partly to worry that rising cases of COVID-19 globally are prompting renewed restrictions on business activity.

MarketWatch MarketPulseOct 27, 2020
Turning Point Brands shares jump premarket after earnings blow past estimates
Turning Point Brands Inc. shares jumped more than 6% in premarket trade Tuesday, after the maker of cigarette rolling papers and vapes blew past earnings estimates for the third quarter. Louisville, Kentucky-based Turning Point posted net income of $7.8 million, or 40 cents a share, in the quarter, up from $6.3 million, or 31 cents a share, in the year-earlier period. Adjusted per-share earnings came to 75 cents, well ahead of the 32 cents FactSet consensus. Sales rose 7.6% to $104.2 million, also ahead of the $91.7 million FactSet consensus. "Smokeless saw continued same store sales momentum in MST and newfound strength in loose leaf chewing tobacco. Smoking (Zig-Zag) saw its highest growth rate in recent history driven by product and channel growth initiatives behind rolling papers, the benefits of greater control of our MYO cigar wraps business after the Durfort transaction closed in the second quarter, and a burgeoning e-commerce presence," Chief Executive Larry Wexler said in a statement. "Overall, we are seeing ongoing benefits from re-shaping our business towards a more growth-oriented mindset and are able to raise our outlook once again for the remainder of the fiscal year." The company is now expecting sales to range from $395 million to $401 million, up from prior guidance of $370 million to $382 million. The current FactSet consensus is for full-year sales of $401.1 million. Sales of cannabis in those states that have legalized it for medical or recreational pur0oses have held up during the pandemic. Turning Point shares have gained 15% in the year to date, while the S&P 500 has gained 5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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Crocs shares rise after 'record' earnings report (MarketWatch MarketPulse)

MarketWatch MarketPulseOct 27, 2020
Coronavirus tally: Global cases of COVID-19 top 43.5 million, 1.16 million deaths and U.S. 7-day case tally sets record
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 43.5 million on Tuesday, according to data aggregated by Johns Hopkins University, while the death toll rose to 1.16 million. The U.S. has the highest case total at 8.7 million and deaths at 225,735. The U.S. has averaged 71,000 new cases a day in the last week, it's highest for a 7-day period since the start of the outbreak, the New York Times reported. Brazil has the second highest death toll at 157,397 and is third by cases at 5.4 million. India is second in cases with 7.9 million, and third in deaths at 119,502. Mexico has the fourth highest death toll at 89,171 and ninth highest case tally at 895,326. The U.K has 45,088 deaths, the highest in Europe and fifth highest in the world, and 897,740 cases.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



MarketWatch MarketPulseOct 27, 2020
Tata Motors' stock surges after revenue falls less than expected, Jaguar Land Rover turns a profit
The U.S.-listed shares of Tata Motors Ltd. rallied 5.1% in morning trading Tuesday, after the India-based automaker reported fiscal second-quarter revenue that fell less than expected, with its Jaguar Land Rover division returning to profit in the quarter. Revenue for the quarter fell 18.2% to INR535.30 billion ($7.26 billion), but beat the FactSet consensus of INR528.77 billion. For the Jaguar Land Rover unit (JLR), revenue rose 52.2% sequentially but fell 28.5% from a year ago. JLR generated a profit of £65 million ($84.8 million), compared with a loss of £413 million in the previous quarter but down from a profit of £156 million a year ago. "A gradual improvement in sales is expected to continue and will be supported by new and refreshed products, including the short wheel-base Land Rover Defender 90, the refreshed Jaguar F-PACE as well as 2021 model year Range Rover Velar, Jaguar XF and Jaguar XE," the company said i a statement. "Furthermore, Jaguar Land Rover continues to expand its offering of electrification across its model range." The stock has soared 40.2% over the past three months, while the S&P 500 has gained 5.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



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Cummins stock surges toward a record after profit and revenue beats, upbeat outlook (MarketWatch MarketPulse)

Yahoo BusinessOct 27, 2020
Santander Rebounds From Giant Loss With Profit, Capital Lift
(Bloomberg) -- Banco Santander SA rebounded from its worst-ever quarter with a profit that beat estimates and improved capital as it seeks to convince regulators that its balance sheet is strong enough to resume dividend payments.Net income totaled 1.75 billion euros ($2.1 billion) in the third quarter, beating estimates of about 1 billion euros, the bank said on Tuesday. The CET1 ratio, a key measure of capital strength, improved to 11.98% from 11.84% at end-June.The results strengthen the Spanish bank's push to overturn the European Central Bank's de-facto ban on paying dividends, which has driven down share prices. Santander Chairman Ana Botin has argued that the measure is harmful not only to bank stocks but also to the economy as a whole because it restricts the flow of capital and increases the cost of equity."Given the group's current performance, the strength of our balance sheet, our liquidity profile and mix of businesses, I am confident that we will be able to resume cash dividends once regulatory conditions allow," Botin said in a statement. Santander will hold a shareholder meeting on Tuesday to vote on a proposed payout on this year's earnings.Santander held back 2.5 billion euros for loan losses in the quarter after setting aside 7 billion euros in the first half. Santander, which posted its first loss in 163 years in the second quarter, expects underlying profit for the full year to reach 5 billion euros, compared with estimates of 3.66 billion euros.Key Third-Quarter FiguresNet interes

MarketWatch MarketPulseOct 27, 2020
Callaway Golf in talks to buy the rest of TopGolf it doesn't own--WSJ
Shares of Callaway Golf Co. rose rose 2.7% in midday trading Tuesday, after The Wall Street Journal reported that the golf equipment maker was nearing a deal to buy the rest of driving-range operator TopGolf Entertainment Group that it doesn't already own. The stock's gain gave Callaway a market capitalization of about $1.92 billion. Citing people familiar with the matter, the WSJ report said the deal, which could be finalized this week, would value TopGolf at more than $2 billion. Callaway owns a roughly 14% stake in TopGolf, the report said. Callaway's stock has slipped 3.6% year to date, while the S&P 500 has gained 5.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


MarketWatch MarketPulseOct 26, 2020
Utilities ETFs outperform amidst market tumble
Utility-sector exchange-traded funds were nearly unchanged Monday afternoon even as most sectors of the market sold off heavily. The Utilities Select Sector SPDR Fund and the iShares U.S. Utilities ETF were both down 0.1%, while the Fidelity MSCI Utilities Index ETF [S: FUTY] and Vanguard Utilities ETF lost 0.2%. The broad stock market, as measured by the S&P 500 lost 2.1%, as investors fretted about the economic impact of rising coronavirus cases. It was the worst day for the Dow Jones Industrial Average since September 3, according to Dow Jones Market Data. More economically-sensitive sectors suffered the most: energy was down more than 4%, while materials lost 3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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