Oct.26 -- Hartmut Issel, head of Asia Pacific equities and credit at UBS Wealth Management, discusses the opportunities he sees in China's green technologies. He speaks with Rishaad Salamat and Haslinda Amin on "Bloomberg Markets: Asia."
One San Francisco accountant finishes every client conversation with a discussion about what a Biden administration could mean for portfolios.
Robert Shiller, a Nobel Prize-winning economist and Yale University professor, urges investors to take a cautious approach to the top-heavy stock market in a recent op-ed for the New York Times.
Four years on from BHS's collapse, has the audit industry, criticised for not spotting problems, changed?
Get the most from your retirement savings in these affordable places outside the U.S.
Lee Kun-hee, who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday after spending more than six years in hospital following a heart attack, the company said. Lee, who was 78, grew the Samsung Group into South Korea’s biggest conglomerate and became the country's richest person. "Lee is such a symbolic figure in South Korea's spectacular rise and how South Korea embraced globalisation, that his death will be remembered by so many Koreans," said Chung Sun-sup, chief executive of corporate researcher firm Chaebul.com.
Buying an EV can be daunting, but a new report shows how worthwhile the investment can be.
Ant Group's dual initial public offering listings in Shanghai and Hong Kong will be the world's largest, Alibaba Group Holding Ltd (NYSE: BABA) founder Jack Ma said Saturday, as reported by CNBC. What Happened: The IPO was priced Friday night but Ma didn't spell out the numbers, which are due to be announced next week, according to CNBC."It's the first time that the pricing of such a big listing -- the largest in human history -- has been determined outside New York City," said Ma at the Bund Summit in Shanghai. The Chinese billionaire called the offering a "miracle," saying, "we didn't dare to think about it five years ago, or even three years ago."Ma also called for banking reforms and called for a new more inclusive universal banking system, to be based on big data, to be set up to aid small businesses and individuals.Why It Matters: The IPO of the Alibaba-backed company could generate nearly billion in proceeds, which would make it the world's biggest IPO ahead of Saudi Aramco's $29.4 billion. Aramco's Dec. 2019 offering had beaten Alibaba's to snatch the biggest IPO crown.Singapore's sovereign wealth fund, GIC Private Limited, could reportedly invest over $1 billion in the two listings. Existing Ant investor, Singapore's Temasek, has also expressed interest in the IPO, according to Reuters. Price Action: Alibaba shares closed nearly 1.2% higher at $309.92 on Friday and gained 0.11% in the after-hours session.See more from Benzinga * Click here for options trades from Benzinga * Quibi Shuts Down — The Idea Wasn't 'Strong Enough' Or 'Timing' Went Amiss, Says Leadership(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Harry Markopolos is the former derivatives professional turned independent financial fraud investigator who uncovered the $65 billion Bernie Madoff Ponzi scheme, only to be ignored by the SEC for over nine years. A vocal critic of the US regulator, Harry now has the audit world and insurance industry in his sights as the next big financial frauds yet to come to light.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
Apple's <AAPL.O> top iPhone assembler, Taiwan-based Foxconn, has set up a task force to fend off the growing clout of Chinese electronics manufacturer Luxshare, which it believes poses a serious threat to its dominance, three sources with knowledge of the matter said. The project was initiated by Foxconn's founder Terry Gou, according to one of the sources, to target Dongguan-based Luxshare <002475.SZ>, which is little-known internationally but is poised to become the first mainland China-headquartered firm to assemble iPhones - a turf until now dominated by Taiwanese manufacturers. The task force, which the sources say was created last year, has been looking into Luxshare's technology, expansion plan, hiring strategy and whether the company - which currently makes only 5% of Foxconn's revenue - is supported by any Chinese government entity.
Microsoft, Apple, Alphabet, Facebook, Amazon, AMD, Caterpillar, Comcast, GE, Ford, Pfixer, Visa, UPS, Exxon Mobil, Twitter, and more companies report third-quarter results.
Tesla Inc (NASDAQ: TSLA) stands to be among the major gainers in the event Joe Biden wins the presidential race, CFRA analyst Garrett Nelson told Yahoo Finance in an interview Friday.What Happened: Nelson said that Tesla would be "one of the biggest winners" due to the company being an "electric vehicle pure play." EVs would be heavily subsidized under a Biden administration, the analyst noted.The CFRA analyst pointed to Biden's proposals of "a massive expansion of tax credits" for EVs as well as a "huge build-out of EV charging stations" as upsides. "You're looking at about a 20-fold increase in the number of EV charging stations, which would really help the electric vehicles in the adoption," said Nelson.Why It Matters: In the final presidential debate held in Tennessee last week, Biden said his administration would invest in 50,000 EV charging stations on the highways.The candidate said the charging stations would lead to the U.S. owning "the electric car market of the future."The former vice president thinks his vision for EVs can tackle climate change and create "new good-paying jobs." The Elon Musk-led company reported third-quarter revenue of $8.77 billion, an increase of 39% year-on-year last week.Price Action: Tesla shares closed nearly 1.2% lower at $420.63 on Friday.Related Link: Jim Cramer Likes These Stocks If Joe Biden Wins The ElectionLatest Ratings for TSLA DateFirmActionFromTo Oct 2020Morgan StanleyMaintainsEqual-Weight Oct 2020Canaccord GenuityMaintainsHold Oct 2020BairdUpgradesNeutralOutperform View More Analyst Ratings for TSLA View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Tesla Full Self-Driving To Be Available For Monthly Rentals Next Year, Musk Says * Jim Cramer Says He Was 'Wrong' About Tesla Being A 'Cult Stock'(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Which investment strategy has stood the test of time? Growth investing. The pros from Wall Street argue that stocks with outsized growth prospects reflect some of the most compelling plays out there. This growth potential extends beyond the near-term, with these names set to deliver handsome returns through 2020 and beyond. That said, finding stocks that fall into this category can be challenging, to say the least. According to the analysts, one strategy is to take a step back and look at the big picture, focusing on the names that stand to see long-term growth on top of their impressive year-to-date gains. Bearing this in mind, we used TipRanks’ database to pinpoint three growth stocks on the receiving end of significant praise from analysts. All three of these tickers have already achieved serious growth in 2020, and are primed to keep climbing higher. Penn National Gaming (PENN) First up we have Penn National Gaming, which owns and operates gaming and racing facilities as well as has video gaming terminal operations throughout the U.S. This name has already soared 146% year-to-date, but some Wall Street analysts believe there’s plenty of fuel left in the tank. PENN recently pre-announced Q3 results that blew estimates out of the water. For the quarter, the company expects margins to expand by over 900 basis points and adjusted EBITDAR to increase by 5% year-over-year, even though revenue was tracking down 10% year-over-year. Weighing in for J.P. Morgan, five-star analyst Joseph Greff told clients, “The regional gaming recovery seen during May/June continued into the Q3, with revenues coming in better than feared; we had previously assumed a slower ramp once pent-up demand normalized and little/no opex creep from post-COVID efficiency gains.” That being said, Greff acknowledges that given the stellar share price performance, some other analysts have “thrown in the towel with downgrades.” However, he still sees “value and catalysts ahead.” The analyst commented, “... there is a tug of war in terms of investor sentiment—which we think is healthy for the stock and almost necessary for the stock to continue to move higher; in our view, traditional gaming equity investors are not completely bulled up, and, in fact, we think there is plenty of investor skepticism related to PENN’s ability to compete with DraftKings, Fanduel, Caesars Entertainment, MGM/GVC, et al., given PENN’s relative balance sheet size to fund early stage sports betting customer acquisition costs, but we believe this risk, to the extent it is meaningful, to compete is now diminished given ~$950 million raised from its recent equity raise.” On top of this, PENN recently launched the Barstool Sports betting app in Pennsylvania. Calling the early launch “encouraging both from a volume and marketing spend perspective,” Greff argues it demonstrates “the potential of its unique approach to share grab.” In addition, momentum is ramping up for Barstool Sportsbook. What’s more, Greff thinks that the current sports betting and iGaming environment resembles the emergence of regional markets in the 1990s, when states with budget deficits turned to new revenue streams like riverboat gaming to help fund budget deficits. Expounding on this, the analyst stated, “We think the states will look to USSB and iGaming in much the same way and PENN will be one of the winners. We like the U.S. Regional land-based gaming/sports betting/iGaming landscape and see upside.” It should come as no surprise, then, that Greff stayed with the bulls. In addition to an Overweight rating, he left an $83 price target on the stock. Investors could be pocketing a gain of 32%, should this target be met in the twelve months ahead. (To watch Greff’s track record, click here) What does the rest of the Street have to say? 9 Buys, 3 Holds and 1 Sell have been issued in the last three months. Therefore, PENN gets a Moderate Buy consensus rating. Based on the $76.77 average price target, shares could rise 22% in the next year. (See Penn National Gaming stock analysis on TipRanks) Redfin (RDFN) Starting out in the map-based search space, Redfin expanded its product offering to make the home tour, listing debut and escrow processes faster and easier. Out on Wall Street, some think that this name is experiencing more than just a COVID demand surge, with its 113% year-to-date gain only the beginning. Although RDFN is coming off of a strong Q3 pre-announcement, investors were somewhat disappointed by the results. BTIG’s Jake Fuller points out that shares likely traded off because “expectations were high and the scale of revenue upside modest at ~2%,” and “momentum investors tend to reward volume-led beats and RDFN actually lagged expectations on that front.” It doesn’t help that RDFN is not a focus name for many, suggesting that investors might not have looked past the revenue disclosure, according to Fuller. However, he argues the Street could be missing key pieces of the puzzle. The five-star analyst mentioned, “What might be getting overlooked here is that RDFN has stepped up commission rates with no obvious impact to conversion, and that should translate into a significantly stronger gross profit outlook for RDFN.” To this end, he bumped up his 2021 gross profit estimate by 47%. Looking at the details of the quarter, RDFN experienced robust demand, with Real Estate Services revenue increasing 36% year-over-year. Site traffic and transactions were also up on a quarter-over-quarter basis. However, it should be noted that the upside was driven by revenue per transaction. “That is important because it suggests that anticipated commission rate increases are finally contributing,” Fuller said. “By our tally, Real Estate Services revenue went from 1.68% of GTV in Q3 2019 and 1.78% in Q2 2020 to an estimated 1.85% in Q3 2020. A four-point beat on gross margin suggests high flow through on that. While difficult to assess the durability of demand, pricing gains and a better margin profile should be sustainable,” Fuller commented. In line with his optimistic approach, Fuller sides with the bulls, reiterating a Buy rating and $65 price target. This target conveys his confidence in RDFN’s ability to climb 45% higher in the next year. (To watch Fuller’s track record, click here) Turning to the rest of the Street, opinions are more varied. With 6 Buys, 5 Holds and 1 Sell assigned in the last three months, the word on the Street is that RDFN is a Moderate Buy. At $50, the average price target implies 11% upside potential. (See Redfin stock analysis on TipRanks) Vertiv Holdings (VRT) As one of the leading global providers of hardware, software and services, Vertiv Holdings helps facilitate an interconnected marketplace of digital systems where large amounts of indispensable data needs to be transmitted, analyzed, processed and stored. Up 71% year-to-date, more gains could be on the horizon, so says Wall Street. Even with the major share price appreciation, Wolfe Research analyst Nigel Coe sees a favorable risk/reward profile. “We believe that Vertiv is a rare breed that can appeal to a broad cross section of investors: a mid-cap growth company that can deliver attractive margin expansion at a discounted valuation, captained by a top-class executive team,” he explained. When it comes to VRT’s runway for growth, its key customer end markets are data center and telecommunications. These spaces are areas where Coe expects to see growth in 2020 and 2021, as well as long-term secular tailwinds from increasing data intensity and 5G upgrades. Additionally, management has outlined a pathway to 500 basis points of margin expansion, driven by efforts to keep fixed costs constant via a variety of operational upgrades and a reduction in organizational complexity. “This is the playbook deployed by Executive Chairman David Cote so successfully under his tenure at Honeywell, and this gives us conviction that a similar playbook can be deployed at Vertiv,” Coe said. It should be noted that VRT exited Q2 2020 with net debt of roughly $2.1 billion, and net debt/EBITDA landing at 4.2x. Even though this is at the high end of the range, Coe argues the balance sheet could rapidly de-leverage. To this end, he calculates surplus capital of $1 billion by 2023, assuming a net debt/EBITDA ratio of 2x. “We don't currently view Vertiv as a clear capital deployment story, but this could come to the fore over the 2022/23 time frame - we could certainly see acquisitions that bolster its capability in power distribution and perhaps at the DCIM layer. Other potential options include the settlement of warrants for cash (these are currently reflected in our diluted share count calculation) and the institution of a dividend that would widen the potential for institutional ownership. We also cannot ignore the scope for strategic partnerships with many larger electrical equipment market participants that are not significant players in the data center,” Coe commented. Everything that VRT has going for it convinced Coe to reiterate an Outperform rating. Along with the call, he set a $23 price target, suggesting 22% upside potential. (To watch Coe’s track record, click here) Are other analysts in agreement? They are. Only Buy ratings, 4 to be exact, have been published in the last three months. Therefore, the message is clear: VRT is a Strong Buy. Given the $20.75 average price target, shares could surge 10% in the next year. (See Vertiv Holdings stock analysis on TipRanks) 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.
Mortgage rates dipped to another all-time low in the week ending 22nd October. Expect COVID-19 and U.S politics to continue to influence in the week.
(AMD)’ third-quarter earnings report, set to arrive Tuesday after the closing bell, comes at an interesting moment for the semiconductor industry. The Wall Street Journal reported that (AMD) (ticker: AMD) plans to aggressively expand its operations through a potential acquisition of (XLNX) (XLNX). Meanwhile, its largest rival (INTC) has been struggling to continue to produce the advanced manufacturing technology necessary to make superior semiconductors.
This week’s marquee earnings and economic data reports will mostly take place later in the week, with the majority of the FAANG stocks reporting after market close on Thursday.
The stock market could go either way, along with leaders such as Microsoft and Tesla. It's peak earnings week as elections loom and coronavirus cases surge.
Each week Trifecta Stocks identifies names that look bearish and may present interesting investing opportunities on the short side. Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names.
Dutch pension giant PGGM doubled its investment in PayPal stock, and bought Cisco and Activision shares in the third quarter. It cut back on Qualcomm stock.
(Bloomberg) -- Ant Group Co. has set the price for its initial public offering in Shanghai, paving the way for a blockbuster sale that may give the Chinese fintech giant a valuation higher than JPMorgan Chase & Co.Billionaire founder Jack Ma, speaking at a weekend conference, said Ant has determined the IPO price, though he didn’t disclose the amount. Pricing details for the China shares are expected by Tuesday, with the Hong Kong price to be announced as soon as Oct. 29, people familiar with the matter have said.The stock sale by Ma’s finance giant is one of the most hotly anticipated IPOs in years, on course to make history by surpassing Saudi Aramco’s record $29 billion share sale in 2019. Large investors have put in bids of about 68 to 69 yuan a share for the Shanghai stock, Reuters reported. That would value the China portion of the sale at as much as $17.3 billion, or close to $35 billion for the dual listing including the Hong Kong leg.“This was the first time such a big listing, the largest in human history, was priced outside New York City,” Ma told the Bund Summit in Shanghai Saturday. “We wouldn’t have dared to think about it five years, or even three years ago.”Ant’s IPO Is Said to Lure Fidelity, T. Rowe Price, UBS AssetThe company may raise another $5 billion after it exercises the so-called greenshoe option to meet demand, people familiar with the matter have said, adding the numbers are subject to change. That would give Ant a valuation of about $320 billion, making it bigger than JPMorgan and four times larger than Goldman Sachs Group Inc.The IPO is attracting interest from some of the world’s biggest money managers, and sparking a frenzy among individual investors in China clamoring for a piece of the sale.T. Rowe Price Group Inc., UBS Asset Management and FMR LLC, the parent of Fidelity Investments, are among the money managers angling for a piece of the deal, a person familiar with the matter has said.Each of the firms is considering investments worth several billion dollars in the Hong Kong-listed shares, though they’ve yet to finalize plans and there’s no guarantee they’ll get an allocation, the person said.Singapore’s sovereign wealth fund GIC Pte, Temasek Holdings Pte and China’s $318 billion National Council for Social Security Fund are also jockeying for a slice of the IPO, people familiar with the matter said earlier this month. Ma’s Alibaba Group Holding Ltd. will also buy new Ant shares to maintain its ownership stake at around 32%.Leveraged LoansHong Kong stockbrokers are so confident Ant IPO will go smoothly that they’re offering to let mom-and-pop investors buy the stock with as much as 20 times leverage. That matches the highest ratio ever offered by brokerages including Bright Smart Securities & Commodities Group and UP Fintech Holding Ltd. HSBC Holdings Plc has set aside more than HK$100 billion ($13 billion) of margin loans for retail investors to subscribe to the Hong Kong IPO, Hong Kong Economic Journal reported, citing the lender.With the pricing this week, investors will have to commit to the deal just days before a U.S. presidential election that could have ramifications for both Ant’s overseas expansion plans and investor risk-appetite. Shares will almost certainly start trading only after the U.S. vote on Nov. 3.The company will issue no more than 1.67 billion shares in China, equivalent to 5.5% of the total outstanding before the greenshoe option, according to its prospectus on the Shanghai stock exchange. It will issue the same amount for its Hong Kong offering. The Shanghai shares will be listed under the ticker “688688,” according to the prospectus. Ant is expected to start taking orders for the Hong Kong portion Monday, people familiar with the matter said.Elderly ClubAnt has picked China International Capital Corp. and CSC Financial Co. to lead the Shanghai leg of the IPO. CICC, Citigroup Inc., JPMorgan and Morgan Stanley are heading the Hong Kong offering.At the weekend conference, Ma criticized global financial regulations for stifling innovation and urged China to seek a system that accommodated development. He compared the Basel Accords, which set out capital requirements for banks, to a club for the elderly.“After the Asian financial crisis, the risk control highlighted in the Basel Accords has been” the priority for regulators, Ma said. “Rarely do they consider opportunities for young people and developing countries.”(Updates with Ma’s comment on Basel Accords at end)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.
Yahoo Finance