Neel Shah, PEAK6 Capital Management Senior Portfolio Manager joins the Yahoo Finance Live panel to talk about Alibaba’s Singles Day, the tech outlook and how the race for a vaccine is weighing on the markets.
The billionaire investor talked about his latest wager on what he believes will be a rough stretch for American corporations due to the economic hit from the coronavirus pandemic.
President-elect Joe Biden made a campaign proposal to erase $10,000 for roughly 37 million Americans who owe federally-backed student loan debt, and experts are divided on if the incoming president will be able to make good on that promise.
If you’ve ever wondered how your retirement savings stacks up against your peers, you’re in good company. The desire to know where you land in the sea of retirement savers…
Bond investors should consider these dividend stocks. Many income investors are turning to the stock market for consistent, steady dividend yields. Morningstar has a "buy" rating and $37 fair value estimate for T stock.
The chancellor commissioned the report in July as part of efforts to cover Covid-19 costs.
Q.: I have a mutual fund I have been funding with $100 every month for the last 20 years. The fund has been doing very well. If the fund is owned inside a tax-favored account like an IRA or retirement account, the sale will not generate a taxable gain.
Pfizer and BioNTech reached a supply deal Wednesday with the European Union for up to 300 million doses of their coronavirus vaccine. The EU will initially buy 200 million doses.
Ray Holgado, a former employee of the Chan Zuckerberg Initiative, recently filed a racial discrimination complaint with the California Department of Fair Employment and Housing. Holgado, who is Black, worked at CZI from September 2018 through August 2020. "Despite its social justice rhetoric, CZI is not a welcoming environment for Black employees," Holgado's complaint states.
Potentially millions of retirees missed out on up to $250,000 in retirement, according to a recent study, because of this one “major financial mistake.”
With Joe Biden the President-elect, the commonly held view is that alternative energy stocks are in line for a boost. That said, some in the sector hardly need a helping hand, in particular Plug Power (PLUG). The hydrogen fuel cell maker has made the most from investors’ thirst for new energy stocks in 2020, in the process racking up a massive 533% of share gains throughout the year.Further adding to the bullish case, the company just released another excellent quarterly financial report.In Q3, revenue hit $106.99 million amounting to a 79.9% year-over-year increase and beating the estimates by $1.23 million. PLUG posted a beat on the bottom line, too, with Non-GAAP EPS of -$0.04 coming in $0.03 ahead of the estimates.Furthermore, the outlook remains positive. PLUG raised its FY20 gross billings estimate to between $325 and $330 million from $310 million. Street was calling for $314 million.Oppenheimer analyst Colin Rusch is “encouraged” by the increasing adoption of the company’s forklift solutions and excited by PLUG’s bullish stance on its solutions’ potential to substitute diesel gensets and provide back-up power for data center applications.While Rusch admits PLUG’s massive share gains might raise questions regarding a hot valuation, they are not enough to detract from the bullish case.“As investors look for exposure to hydrogen vehicle growth, we believe PLUG is best positioned to benefit from all key areas in the supply chain with differentiated, commercially proven technologies,” the 5-star analyst said. “We believe valuation is the biggest question for investors as the market negotiates growth multiples in the context of potentially stable tax policy and historically low interest rates. Given the scale of the opportunity and PLUG's IP portfolio, we are raising our PT multiple in line with disruptive technology peers and current market dynamics as we maintain our constructive stance on shares.”The price target raise is a significant one -- doubled from $13 to $26. The new figure implies a 15% upside from current levels. As a result, Rusch keeps his Outperform (i.e. Buy) rating on Plug Power shares intact. (To watch Rusch’s track record, click here)Plug Power’s rise offers analysts an interesting conundrum. On the one hand, based on a decisive 10 Buy ratings with no holds or sells, the analyst consensus is a Strong Buy. However, the constant share gains mean the $20.89 average price target indicates a modest ~4% upside in the year ahead. (See PLUG stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
J.C. Penney is on course to emerge from bankruptcy by Thanksgiving, after a U.S. bankruptcy court approved the sale of the ailing 118-year-old retailer to its two largest landlords and its primary lenders. The U.S. Bankruptcy Court for the Southern District of Texas approved a purchase agreement, announced earlier this fall, that has substantially all of J.C. Penney’s retail and operating assets being acquired by Brookfield Asset Management Inc. and Simon Property Group through a combination of cash and new term loan debt. J.C. Penney filed for Chapter 11 bankruptcy protection in May, becoming one of the largest retailers to do so during the pandemic amid a wave of store closures forced by the spread of COVID-19 infections in the U.S.
Buy stocks because of a coming COVID-19 vaccine, says Goldman Sachs.
Bourla authorized the sale of the shares on Aug. 19, provided the stock was at least at a certain price, as part of a predetermined plan, the company said. Bourla sold 132,508 shares at $41.94 per share, according to a Securities and Exchange Commission filing late Tuesday. "The sale of these shares is part of Dr. Bourla's personal financial planning and a pre-established (10b5-1) plan, which allows, under SEC rules, major shareholders and insiders of exchange-listed corporations to trade a predetermined number of shares at a predetermined time," Pfizer said.
The U.S.-listed Chinese EV producers are about to report earnings. Stakes are high because the stocks are on fire.
(Bloomberg) -- Small-cap drug developer Five Prime Therapeutics Inc. is on track to post one of this year’s biggest daily stock moves after reporting promising data from a mid-stage cancer study.The South San Francisco, California-based biotech firm skyrocketed as much as 349% after a combination of its drug and chemotherapy helped some patients keep their stomach cancer at bay for longer than those receiving just chemotherapy. Should this rally hold, it would be the third biggest single-day move on the New York Stock Exchange and Nasdaq Exchange, according to data compiled by Bloomberg.Its stock-surge trails a pair of micro-caps with SPI Energy Co. jumping more than 1,200% on Sept. 23 and Weidai Ltd.’s 527% rally last month.While analysts hailed Five Prime’s data as a surprising win, bearish options tied to the stock crashing back to reality were among the most active U.S.-listed contracts. More than 32,000 November $7.50 puts were traded at an average price of 23 cents.“The data clearly establish a benefit of bemarituzumab in terms of progression free survival (PFS) and overall survival (OS), provide valuable information in terms of effect size for sizing a potential phase 3 study, and are sufficient to attract large Pharma interest,” said Wells Fargo analyst Jim Birchenough, who upgraded the stock to the equivalent of a buy rating and gave it street-high share price target of $34. At its peak today, Five Prime’s share price was at $24.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.
When IBM announced it was spinning out its infrastructure services business last month, it was surely a sign that the company was going all in on hybrid cloud. Today in an interview with Jon Fortt at the CNBC Evolve summit, IBM CEO Arvind Krishna made it clear that his whole focus is going to be on transforming his organization into a hybrid cloud management vendor moving forward. Krishna sees this acquisition as a key part of the transition strategy to capture what he estimates is a trillion dollar opportunity in the hybrid cloud management market, and he believes his company is well-positioned to grab a piece of that.
Beyond Meat stock is navigating a shift in retail strategy as coronavirus shutdowns strangle restaurant sales. Is BYND stock a buy?
Alibaba stock is an IBD Long-Term Leader with outstanding fundamentals, but does that make the China bellwether a buy right now?
Apple has been an American success story several times over with the Mac, iPod, iPhone and other inventions. But is Apple stock a buy now? Here's what its stock chart and earnings show.
The U.S. presidential election has come to a close, and Wall Street isn’t opposed to the administration change. Last week saw the S&P 500 notch its second-best performance during an election week on record, even as Trump’s chances of getting re-elected became slimer and slimer.Weighing in for Oppenheimer, Chief Investment Strategist John Stoltzfus noted, “What appears clear so far is that the equity markets are not averse to a change of administration stateside at least so long as the Republicans maintain control over the Senate. Checks and balances ‘on the Hill’ have been known to be important to investors over the course of history. The present in our view is no exception.”There is, however, some uncertainty surrounding the Senate, with the two runoff elections for seats in Georgia scheduled for January 5, only 15 days before Inauguration Day. That said, Stoltzfus points out that continued better-than-expected Q3 results from S&P 500-listed companies, economic data tied to job gains and a sharp decline in the unemployment rate have also been helping to prop stocks up.Taking Stoltzfus’ outlook into consideration, we wanted to take a closer look at three stocks earning a round of applause from Oppenheimer, with the firm’s analysts forecasting over 100% upside potential for each. Using TipRanks’ database, we learned that the rest of the Street is in agreement, as all three boast a “Strong Buy” analyst consensus. Strongbridge Biopharma (SBBP)First up we have Strongbridge Biopharma, which is focused on developing therapies for rare diseases with significant unmet needs. Ahead of a key regulatory filing, Oppenheimer believes that SBBP's $2.12 share price reflects an attractive entry point.Representing the firm, analyst Hartaj Singh points out that investor focus has landed squarely on Recorlev, the company's investigational cortisol synthesis inhibitor, in Cushing's syndrome. The company is gearing up to file an NDA for the therapy in Q1 2021, and the analyst is optimistic about its potential approval.In the LOGICS study, the therapy met its primary endpoint, with SBBP reporting the number of cases of a loss of mean urinary free cortisol (mUFC) response was 54.5% higher among patients who withdrew to placebo versus those who remained on Recorlev. Additionally, there was a rapid reversibility of the Recorlev treatment benefits on cholesterol following the switch to placebo given the 8-week time frame.Meanwhile, in the SONICS study, a significant benefit on mUFC normalization was observed in 30% of the patients and several cardiovascular secondary measures. It should also be noted that none of the 44 patients who were randomized discontinued due to adverse events.“Post-LOGICS, we continue to view Recorlev as a differentiated treatment for Cushing's, both compared to off-label ketoconazole and the branded treatment landscape. Management reiterated its confidence in the drug's positioning, based on market research with payors and physicians. Given LOGICS reaffirming the clinical benefit profile observed in SONICS, we are encouraged by its potential to become a mainstay treatment for the disease,” Singh explained.What’s more, management is not anticipating an AdComm meeting, and Singh thinks speculation on labeling both from a safety and efficacy perspective may increase prior to the potential PDUFA decision. To this end, he expects more visibility as the NDA filing and acceptance gets closer.Adding to the good news, the launch of Keveyis, the company's FDA-approved treatment for hyperkalemic, hypokalemic and related variants of Primary Periodic Paralysis (an ultra-rare neuromuscular disorder), is progressing well despite the COVID-19 pandemic, according to Singh.“With quarterly sales of ~$8.0 million, above our estimate of ~$7.8 million, the growing trajectory of the launch has been encouraging, with additional room for long-term growth highlighted by management. We anticipate more credit could be ascribed to these efforts, following additional updates from life-cycle management strategies,” the analyst commented.To this end, Singh rates SBBP shares an Outperform (i.e. Buy) along with a $7 price target. What's in it for investors? Upside potential of 233%. (To watch Singh’s track record, click here)All in all, other analysts echo Singh’s sentiment. 3 Buys and no Holds or Sells add up to a Strong Buy consensus rating. With an average price target of $8, the upside potential comes in at 272%. (See SBBP stock analysis on TipRanks)Molecular Templates (MTEM)Molecular Templates works to bring the next generation of immunotoxins called engineered toxin bodies (ETBs), which are a novel class of therapeutics with unique biology and a differentiated mechanism of action, to market. Although one of its trials was put on a partial clinical hold, Oppenheimer still believes its long-term growth narrative is strong.The Phase 2 monotherapy trial evaluating lead candidate MT-3724, an ETB that targets CD20 (a B-cell marker that is expressed in 90 percent of B-cell non-Hodgkin’s lymphoma (NHL)), was placed on partial clinical hold on November 4 following a treatment-related fatality. Management pointed to capillary leak syndrome (CLS) as the cause of the patient death. MT-3724 is being evaluated in three ongoing Phase 2 trials, one monotherapy and two combination.It should be noted that six patients (fatality patient and five treated in DLBCL monotherapy study) received the drug from the same batch, and the first five completed the study without evidence of CLS. Later PK analysis found peak drug exposure (Cmax) 3-4x expected levels in five out of six patients receiving the therapy from the lot. Management plans to investigate what caused the higher Cmax levels.Oppenheimer’s Kevin DeGeeter told clients, “We would look to accumulate MTEM shares into any weakness based on expectation: 1) manufacturing batch inconsistency may have resulted in excess Cmax in limited number of patients providing clear path to remedy the problem, 2) limited read through on immunogenicity from MT-3724 (only product on first-gen ETB backbone) to other pipeline programs, and 3) guarded expectation for commercial opportunity of MT-3724 prior to clinical hold with market opportunity focused primarily on salvage patients.”Even if the CLS is determined to be dose-related, the five-star analyst argues there may still be a path forward for MT-3724, as the monotherapy study is evaluating a dose of 50 µg/kg while combination studies are assessing a 10-25 µg/kg dose.Reflecting another positive, the hold doesn’t impact studies for products on the second-generation ETB backbone, including MT-5111, TAK-169 and MT-6402. In addition, the company is set to provide a clinical update on CTX001, a potential treatment for sickle cell disease (SCD).DeGeeter opined, “Our investment thesis is based, at least in part, on continued partnering of ETB platform to large biotechs for targets outside of MTEM's core oncology focus. Despite the clinical hold on MT-3724, MTEM remains in active discussions with potential partners. We'd view additional partnering deals as validation of the platform's overall safety profile.”In line with his optimistic approach, DeGeeter rates MTEM an Outperform (i.e. Buy) along with a $20 price target. This figure indicates 123% upside potential from current levels. (To watch DeGeeter’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 3 to be exact, have been issued in the last three months. Therefore, the message is clear: MTEM is a Strong Buy. Given the $18.33 average price target, shares could soar 108% in the next year. (See MTEM stock analysis on TipRanks)Provention Bio (PRVB)At the forefront of the autoimmune disease space, Provention Bio is working to improve the lives of patients from all over the world. With the company making significant headway in its efforts to gain approval for one of its therapies, Oppenheimer thinks that now is the time to snap up shares.On November 2, Provention Bio announced that the rolling submission of a BLA to the FDA for regulatory approval of teplizumab for the delay or prevention of clinical type 1 diabetes (T1D) in at-risk individuals had been completed. The submission included chemistry, manufacturing and controls (CMC) and administrative information modules. Now, the FDA has 60 days to review the final submission to determine if the BLA is complete, and then, a PDUFA date will be set.Writing for Oppenheimer, analyst Justin Kim points out that the BLA acceptance will be a key milestone for PRVB. “We believe the external validation and review of the application would reflect favorably on the significant efforts Provention has made towards completion of this filing, namely manufacturing scale-up. As a potential advisory committee meeting and regulatory decision offer subsequently greater validation, we have confidence into these events based on teplizumab's established clinical profile.”Going forward, Kim believes the therapy’s commercialization will become a central theme in 2021. Based on teplizumab's 14-day infusion cycle, logistics and physician/patient reception of the modality, especially during the COVID-19 pandemic, are attracting major attention, according to the analyst.Should the candidate ultimately be granted approval, screening and awareness work could reflect a significant tailwind, in Kim’s opinion. With it already having established meaningful relationships across key T1D advocacy groups and foundations, “Provention is well-positioned and connected to build momentum for screening and identification initiatives.” The analyst added, “While the hurdle to execute successfully is high, reward, in our view, would be commensurate.”When it comes to the long-term opportunity, “the TN-10 population criteria” remains a key area of focus for Kim, as “these opportunities may not only expand the market opportunity for teplizumab but also significantly solidify its positioning the treatment paradigm.” He also mentions that re-dosing paradigms and adjunctive use post-transplant for teplizumab are other points of strength.Summing it all up, Kim stated, “PRVB remains underappreciated in our universe, potentially given macro themes around COVID-19 and intensified focus on momentum names. However, as continued execution carries PRVB through successful regulatory, pre-commercial, and commercial milestones, we believe the shares could enter a period of significant re-rating.”Everything that PRVB has going for it prompted Kim to leave his Outperform (i.e. Buy) rating as is. Along with the call, he keeps the price target at $29, suggesting 106% upside potential. (To watch Kim’s track record, click here)Turning to the rest of the Street, the bulls have it on this one. With 4 Buys and no Holds or Sells assigned in the last three months, the word on the Street is that PRVB is a Strong Buy. At $28.75, the average price target implies 104% upside potential. (See PRVB stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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