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JUST IN:

Another 742,000 Americans filed new unemployment claims last week

The number of claims filed unexpectedly rose last week; 700,000 was anticipated.

Tidal discounts four months of its HiFi subscription to $2 for Black Friday

Igor Bonifacic
·Contributing Writer
·1 min read

As it’s done in past years, Tidal is discounting the cost of its paid subscription tiers during Black Friday and beyond. Starting on November 24th through to December 2nd, you can get four months of Tidal Premium for $0.99 or Tidal HiFi for $1.99. Normally, Tidal’s two paid tiers cost $9.99 and $19.99 per month, respectively. Over the course of four months, they’ll end up costing you $39.96 and $79.96. So you’ll end up saving quite a bit of money if you take advantage of this deal, particularly if you go for the HiFi membership.

The primary difference between the two tiers is the quality at which you can listen to Tidal’s 70 million-strong song library. The Premium tier gives you access to tracks encoded at 320 kbps. That’s the same quality you can get on Spotify, provided you pay for the service and dig into the settings to change streaming and download quality. With the HiFi tier, meanwhile, you can stream tracks at lossless 1411 kbps quality. Some songs are also available in Master quality, which sees the bitrate get up as high as 9216 kbps. Additionally, the HiFi tier allows you to stream Dolby Atmos Music to compatible soundbars, tvs and Android phones.

Latest Stories

  • The 3 Hottest Electric Vehicle Stocks Of The Year

    Many Electric vehicle stocks have had a spectacular year, and as the world progresses towards a greener economy, it’s clear this sector is only getting started

  • Here's How Much Investing $1,000 In Boeing On The Day The 737 Max Debuted Would Be Worth Today

    Investors who owned stocks in the last three years have generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return since May 22, 2017 is 61%.On that day in history, Malaysian carrier Malindo Air flew the world's first Boeing Co (NYSE: BA) 737 Max commercial flight.Boeing's 737 Max Headache: Boeing investors had high hopes for the 737 Max, but it didn't take long for red flags to appear.On the day of the first 737 Max flight back in 2017, Boeing shares were trading at around $184.Boeing shares soared in the first year the 737 Max was in operation, peaking at around $394 in October 2018 -- around the time of the first Max crash.On Oct. 29, 2018, Lion Air flight 610 went down in the Java Sea, killing 189 passengers and crew members. At the time, investors likely saw the crash as an isolated incident. Boeing shares initially dropped back to $296.61 following the crash before ripping back up to an all-time high of $446.01 in early 2019.On March 10, 2019, Ethiopian Airlines flight 302 crashed, killing another 157 people. Three days later, the U.S. Federal Aviation Administration officially grounded the 737 Max on safety concerns.Despite the grounding, Boeing shares initially held up relatively well. The stock drifted lower throughout 2019, but stayed above $320 heading into 2020.Boeing In 2020 And Beyond: Boeing was trading at around $350 in early 2020 prior to the COVID-19 market crash, which sent Boeing shares into a spiral. The stock tumbled all the way to $89, and Boeing announced it was suspending its dividend and share buybacks due to the crisis.Air travel rates plummeted more than 95%, and Boeing's customers were forced to cancel orders, significantly shrinking the company's backlog. On Nov. 18, the FAA finally cleared the 737 Max to fly again, but the pandemic rages on.The 737 Max era has been a major disappointment for Boeing investors so far. In fact, $1,000 invested in Boeing stock on the day of the first 737 Max commercial flight in 2017 would be worth about $1,240 today, assuming reinvested dividends.Looking ahead, analysts are expecting more struggles for Boeing in the next 12 months. The average price target among the 23 analysts covering the stock is $174, suggesting 18.9% downside from current levels.See more from Benzinga * Click here for options trades from Benzinga * After Nearly 2 Years, FAA Says Boeing's 737 Max Can Carry Passengers And Fly Again * Boeing Option Trader Bets M On 10% More Upside(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Aurora Cannabis Is Going to $0 — and for 3 Good Reasons, Says Analyst

    Once upon a time (way back in early 2019), Aurora Cannabis (ACB) was a dominant force in Canadian cannabis. Boasting a massive "cultivation footprint" -- hundreds of thousands of square feet of growing space producing hundreds of tons of weed per year -- Aurora controlled 20% of the mass market Canadian cannabis. And yet, Aurora could not seem to turn a profit. It lost $224 million in fiscal 2019 and then $2.4 billion in fiscal 2020.Hoping to stem the tide of these losses Aurora began focusing its efforts on selling premium marijuana blends at higher profit margins. That obviously didn't work, so in 2019 it shifted its strategy back to targeting the "value segment" -- the mass market -- which also didn't work. So lately, Aurora has begun refocusing yet again on premium blends.And how is that working out? Here's a clue: In the first quarter of its fiscal 2021 (reported last week), Aurora suffered: * a 10% decline in quarterly sales to $51 million * a net loss of $81 million * and $93 million in negative free cash flow.Sound like it might be time for another business model reset? According to GLJ Research analyst Gordon Johnson, that's exactly what's likely to happen at Aurora Cannabis. Johnson observes that when calculated in Canadian dollars, Aurora's fiscal Q1 2021 revenues of C$67.8 million actually exceeded analyst expectations for C$63.9 million. However, the company suffered an "acute bottom line-miss" when it reported losing C$0.93 -- more than twice the C$0.46 that analysts had expected it to lose. Cash burn also accelerated -- up nearly 50% sequentially to C$124.3 million.Despite this massively bad quarter, Johnson notes that the apparent electoral victory of Joe Biden as U.S. President-elect has investors betting on U.S. marijuana legalization to turn around the fortunes of the marijuana industry. So far, the month of November alone has sent Aurora Cannabis stock up nearly 73%, and in Johnson's view, there's just one way to play this marijuana stock rally:Sell. Or even, sell short \-- because this stock is going to $0, says Johnson. (To watch Johnson's track record, click here)There are at least three good reasons to follow this advice, according to the analyst. The first, obviously, is that Aurora Cannabis can't quite seem to figure out what it wants to be when it grows up -- but whatever that is, it's almost certain to be a company that loses money hand over fist. One reason for this is that the oversupply of mass market marijuana, it seems, has "recently shift[ed] to the premium segment where everyone is now focused, [such that] the high-end space [that Aurora once again favors] now has a problem," too.Even worse for all marijuana investors, though -- not just Aurora Cannabis -- Johnson thinks they're entirely misreading the legislative situation surrounding cannabis. For one thing, "US Federal nationalization" ([sic] -- pretty sure he means "legalization") -- is "highly unlikely" even under a President Biden, with the U.S. Senate still firmly in Republican hands.And second, even if marijuana legalization does get passed in the United States, "barring a change in Canadian national law," says Johnson, "ACB cannot legally operate" in the United States.Aurora Cannabis stock, it seems, just can't seem to catch a break. And at a valuation of "nearly 750x FY21E," maybe it doesn't deserve to, according to Johnson. How does Johnson's bearish stance weigh up against the word of the Street? It appears other voices are not willing to bet on the cannabis player either. Aurora Cannabis currently has a Hold consensus rating based on 0 Buys, 12 Holds, and 3 Sells. At $7.39, the average price target suggests shares will stay range bound for the foreseeable future. (See Aurora Cannabis stock analysis on TipRanks).To find good ideas for cannabis 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.

  • Canadian Solar: Q3 Earnings Insights

    Shares of Canadian Solar (NASDAQ:CSIQ) moved higher by 3.3% in pre-market trading after the company reported Q3 results.Quarterly Results Earnings per share fell 77.27% year over year to $0.15, which beat the estimate of ($0.05).Revenue of $914,360,000 up by 20.33% year over year, which beat the estimate of $861,930,000.Guidance Earnings guidance hasn't been issued by the company for now.Q4 revenue expected to be between $980,000,000 and $1,015,000,000.How To Listen To The Conference Call Date: Nov 19, 2020View more earnings on CSIQTime: 08:00 AMET Webcast URL: https://edge.media-server.com/mmc/p/zkm26dmdPrice Action 52-week high: $44.86Company's 52-week low was at $12.00Price action over last quarter: Up 63.53%Company Profile Canadian Solar Inc is a Canadian solar power company. It is an integrated provider of solar power products, services, and system solutions. The company engages in designing, developing and manufacturing solar ingots, wafers, cells, modules and other solar power products. It operates through two business segments MSS segment and Energy segment. The MSS segment involves the design, development, manufacturing, and sale of solar power products, including standard solar modules and specialty solar products. Its Energy segment consists of solar power project development and sale and EPC and development services. Most of the revenue is earned from the MSS segment. Geographically, it derives majority revenue from Asia and also has a presence in the Americas and Europe and other regions.See more from Benzinga * Click here for options trades from Benzinga * Earnings Scheduled For November 19, 2020 * Earnings Outlook for Canadian Solar(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • FuelCell’s stock has rallied too much to keep recommend buying, analyst says

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  • Shift Into 5G Could Fuel a Rally in These 3 Stocks

    The tech world is in the midst of a shake-up. Since the end of 2017, the new 5G wireless technology has been moving forward, bringing with it a combination of faster connection speeds and lower latency, and the promise of great changes in how we connect to the online world. New technologies – connected automobiles and agile IoT come to mind – would not be possible without 5G.Investment research firm HSBC Global, in a recent report on the advent of 5G tech, takes up the questions of whether the new networking is a boom or a bust. Specifically, HSBC asks why 5G has been underwhelming – so far. Industry expert Professor William Webb notes that 5G’s rollout has not lived up to the hype, even in Asia where networks are more extensive and better integrated. He describes the technology as ‘evolutionary, not revolutionary.’Webb points out several areas where 5G clearly needs further evolution: the expansion of networks, which will necessitate further buildouts of towers and cells; smoother transitions between cells; and improved functionality, once devices are connected. In his view, 5G is a beginning rather than an end.Commenting on Webb’s views, and on the technology generally, HSBC's Head of Telecoms Neale Anderson, writes, “[We] see it as unfortunate (although sadly inevitable) that 5G was rushed to market... The bar will further be raised by mmWave services, which have been launched in the US, and recently in Asia in Japan. We see this as the ‘real’ 5G, and expect it to open up – albeit slowly – new opportunities for operators.”Whether 5G underwhelms or overwhelms in the short term, in the longer term it is here to stay – and that means some stocks are going to gain as 5G expands. Wall Street’s analysts have been busy finding those stocks, and the TipRanks database has the scoop. Here are three of them.Inseego Corporation (INSG)First up, Inseego, is a wireless and mobile hotspot company. As can be imagined, the company has gained directly from the moves toward increased remote work and virtual offices. The stock is up 27% this year, even after accounting for high volatility in April and August.Inseego has a direct concern in 5G. As a wireless provider, the company cannot afford to ignore the new tech, and is directly involved in developing and marketing home-use 5G routers. Inseego has an ongoing partnership with Verizon on networking and hardware, and is also working to expand its hotspots to IoT uses. The company has not ignored the innards of the devices, and works with Qualcomm on advanced 5G router chips.Like many networking providers, Inseego has performed at the financial level. Quarterly revenues have posted sequential gains through 2020, with Q3 exceeding $90 million at the top line. Q3 EPS showed a loss of 6 cents; the loss was considered normal, as Inseego, again like many other tech firms, typically shows a net loss per share. The important point to the EPS was, it was the smallest such loss in two years.Analyst Lance Vitanza, in his coverage of the stock for Cowen, writes, “While the company continues to see significant demand for legacy 4G products, its second-generation 5G product suite continues to ramp… Inseego is positioned to profit from the advent of 5G, technology that is estimated to generate $500 billion in GDP in the U.S. and which will give way to more traditional upgrades of existing mobile hot spots from 4G to 5G.”In line with these comments, the analyst puts an Outperform (i.e. Buy) rating on the stock. His price target, at $13.50, indicates room for 44% growth in 2021. (To watch Vitanza’s track record, click here)Overall, Inseego holds a Moderate Buy rating from the analyst consensus, based on 6 reviews breaking down to 4 Buys and 2 Holds. Meanwhile, the average price target, $13.17, suggests it has 41% upside potential in the year ahead. (See INSG stock analysis on TipRanks)Amdocs Limited (DOX)Software company Amdocs has built a strong reputation in the communications and media niche, while remaining under the radar compared to its competitors. In recent months, Amdocs has expanded its operations into 5G through the acquisition of Openet, a provider of telecom services for network commercialization and analytics. Openet bills itself as ‘built for 5G,’ and this acquisition, valued at $180 million, will bring Amdocs directing into the 5G network.In the meantime, a look at Amdocs’ recent performance shows that the company holds a sound position in the software universe. The company’s revenues barely blinked through the corona crisis, remaining in the range of $1.03 to $1.05 billion for the past four quarters. Earnings did even better; the $1.17 EPS recorded in 3Q20 is the company’s highest in over two years.Despite the solid financial performance, Amdocs shares have still not fully recovered from the mid-winter market crash. The stock is down 10% year-to-date, JPM analyst Jackson Ader believes that this stock’s relatively low price presents a clear opportunity for investors. “As 5G adoption begins to pick up and North American revenue stabilizes we think it is time to step in to this value name that has significantly lagged our coverage and the market this year… we believe 5G tailwinds, improving cash flow conversion and a potential value rotation warrant an upgrade to Overweight,” Ader noted. Along with that upgrade to Overweight (i.e. Buy), Ader sets a one-year price target of $75, suggesting a 17% upside for the stock. (To watch Ader’s track record, click here)Overall, with 3 recent Buys and 1 Hold, Amdocs gets a Strong Buy rating from the analyst consensus. The stock is selling for $63.97 and the average price target is $76, slightly more bullish than Ader’s and implying an upside of ~19%. (See Amdocs stock analysis on TipRanks)Tower Semiconductor (TSEM)Last but not least is Tower Semiconductor, a fabrication company in the chip industry. Fabs are a vital link in the semiconductor business, as many of the big chip designers don’t actually manufacture their own products – they do the design, make the prototypes, and outsource the serial production. Tower is one of the serial producers, making chips for major names among the big semiconductor companies, including Broadcom, Intel, and Samsung.Tower is heavily invested in 5G, producing a range of chips for 5G enabled devices, including everything from handsets to data centers. As 5G networks expand, and as end users begin the process of switching to enabled devices, Tower is well-positioned to gain. No matter which big chip companies get the lion’s share of the new business, Tower will be there – it runs the fabrication plants. It’s an enviable niche at a time when the market is starting to change at an accelerating rate.The combination of a firm foundation and good prospects can be seen in the revenues and earnings outlook. At the top line, income has been stable through this pandemic year, while at the bottom line, EPS is projected to start swinging back up in Q4 of this year.Needham analyst Rajvindra Gill is upbeat about Tower’s forward path. He rates the stock a Buy along with a $30 price target, suggesting a 30% upside on the one-year horizon. (To watch Gill’s track record, click here)Backing his stance, Gill writes, “We expect robust growth in '21 given our expectations of the 5G smartphone market doubling and RF content increases of 40-60%... We view [TSEM] as our top small-cap 5G play, as we believe it is particularly well-positioned to benefit from the 5G cycle (both on smartphone & infrastructure side)."All in all, Tower’s Strong Buy analyst consensus rating is unanimous, supported by 3 recent Buy reviews. The stock has an average price target of $27.67, which implies a 20% upside from the current share price of $23.08. (See TSEM stock analysis on TipRanks)To find good ideas for 5G 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.

  • Desperate for fuel, Venezuelans steal PDVSA crude and make their own gasoline

    Venezuelans, desperate for fuel after months of shortages, have begun stealing crude from idled fields owned by state oil company Petroleos de Venezuela [PDVSA.UL] and distilling homemade gasoline, according to two PDVSA workers and a half dozen people familiar with the practice. The amount of crude stolen is a tiny fraction of Venezuela's output. Venezuela's once-formidable 1.3 million barrels per day (bpd) refining network has collapsed, oil and refining installations have little security or maintenance, and the firm is unable to retain qualified workers as salary values erode.

  • 3 Dividend Oil Stocks For Investors To Consider

    Oil stocks have traditionally been a good spot for investors to find high dividend yields. The decline in oil demand and production in 2020 has sent shares of oil stocks lower, creating higher dividend yields.The question could be whether the dividends are sustainable. Here's a look at three dividend oil stocks for investors to consider.ExxonMobil: One of the largest oil companies in the U.S. and world is Exxon Mobil Corporation (NYSE: XOM).The company's dividend yield hit 10% in September, with shares down significantly in 2020. Shares yield 9% and could be a long-term bet on a recovery in oil prices -- and Exxon's history of raising dividends.The company has seen revenue fall from $197.8 billion to $135 billion for the first nine months of 2019 compared to the same period in 2020. The company reported a net loss of 18 cents per share in the third quarter, which was down from the prior year's profit of 68 cents a share, but an improvement on the 70-cent loss in the second quarter.Exxon Mobil's dividend yield was 5.8%, 7.9% and 7.9% at the time of the first three quarterly payouts in 2020.In 2019, the quarterly dividend yields were all 5% or less. Analysts have questioned whether the company can keep paying out high dividends.The company maintained its quarterly payout of 87 cents for the current quarter when some believed it would be cut.Related Link: Stock Wars: Exxon Mobil Vs. Nextera, A Battle Of Old Vs/ New In EnergyChevron: Shares of Chevron Corporation (NYSE: CVX) are down 28% in 2020. The company now has a dividend yield of 6%.The company reported a loss of $207 million in the third quarter, but showed improvements with capital spending down 48% and operating expenses down 12% year-over-year.Chevron's year-to-date revenue is $69.6 billion, down from $105.3 billion in the prior year.The acquisition of Noble Energy closed in October, which Chevron said will strengthen the company's portfolio.A joint venture for renewable natural gas, CalBioGas, also started production in the third quarter, which could be a growth area for investors to watch.Chevron typically raises its dividend for the start of every year, which means the next quarterly report will be the one where investors are watching for a dividend raise, cut or the status quo. Kinder Morgan: The largest energy infrastructure firm in the S&P 500 is Kinder Morgan Inc (NYSE: KMI). The company is tied to the prices of oil and natural gas. Kinder Morgan owns 83,000 miles of pipelines and has 147 terminals that help transport natural gas, gasoline, oil and CO2.Third-quarter revenue for Kinder Morgan was $2.9 billion compared to $3.2 billion in the prior year period. Earnings per share were 21 cents in the third quarter compared to 22 cents in the prior year.Kinder Morgan cut its dividend in 2016, but have been raising it every year since to the current 26.25 cents per quarter. "Once we have completed our 2021 budget process, the board will determine the fourth quarter 2020 dividend and our dividend policy for 2021," the company said in its third-quarter earnings release.Shares of Kinder Morgan are down 34% in 2020. While some oil stocks have rallied in the last month, Kinder Morgan shares are up 9%.See more from Benzinga * Click here for options trades from Benzinga * Joyy Plummets On Muddy Waters Short Report, Fraud Claims * Arrival, An EV Bus Maker That Rivals Rivian, Going Public Via SPAC(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Analysts Say These 3 Stocks Are Their Top Picks for 2021

    The year is winding down, and it’s time for Wall Street’s analysts to start flagging their top picks for the coming year. It’s a time-honored tradition, in most walks of life, to take a sometimes tongue-in-cheek look at what lies ahead, and to start giving advice on the say-so of a metaphorical crystal ball.Analysts have been analyzing each stock carefully, looking at its past and current performance, its trends on a variety of time frames, management’s plans – the analysts take everything into account. Their recommendations provide valuable direction for building a resilient portfolio in the new year.As normal, TipRanks has collected and collated the data on the top picks, and made it available for investors’ use. The stock choices, and their data, make for some interesting choices. Let's take a closer look. UTZ Brands (UTZ)UTZ Brands is a familiar label in the eastern US. The company is known for its range of snack foods, of the salty variety rather than sweet. The company’s line of foods, including pretzels, potato chips, snack mixes, and popcorn, are frequent choices in vending machines. In August, UTZ (then known as Utz Quality Foods) has completed a business combination agreement with Collier Creek, a special purpose acquisition company. The combination brought the venerable snack company into the public trading domain. More recently, UTZ posted strong Q3 results and reported that it has entered an agreement to buy competing snack company Truco. The quarterly results were released first, on November 5, showing $248 million in net sales, a year-over-year gain of 24%, along with a 23% yoy gain in gross profit. One week later, UTZ and Truco announced a $480 million acquisition agreement, which will bring the ‘On the Border’ brand of tortilla chips and salsas into UTZ product line.Covering this stock for Oppenheimer is 5-star analyst Rupesh Parikh, who sees a clear path forward for the company. “[Following] the company's announcement on 11/12 to acquire Truco Enterprises, [we] overall look very favorably upon the deal economics, synergy opportunity, leverage to the attractive tortilla category including ancillary products (salsa and queso), and compelling growth prospects for the brand," Parikh opined. "We believe the company is well positioned to drive at least 3-4% organic sales growth and 6-8% EBITDA growth with upside optionality from strategic acquisitions," the analyst concluded. To this end, UTZ remains Parikh's top small-cap food pick. The analyst rates the stock an Outperform (i.e. Buy) along with a $24 price target. This figure implies a 28% upside from current levels. (To watch Parikh’s track record, click here)Overall, Wall Street loves this stock, earning a stellar analyst consensus rating -- Strong Buy. Out of 7 analysts tracked by TipRanks in the last 3 months, 6 are bullish on UTZ, while only one remains sidelined. With a return potential of ~16%, the stock's consensus target price stands at $21.71. (See UTZ stock analysis on TipRanks)RingCentral, Inc. (RNG)From salty snacks we move on to telecom tech. RingCentral is a cloud-based business communications company. The company’s products are software platform packages that combine telephone and computer systems. The flagship product platform, RingCentral Office, allows compatibility of the communications system with other popular business apps including DropBox, Google Docs, Outlook, and Salesforce. RNG also offers unique features necessary for communications systems: call forwarding, phone extensions, vid calling, and screen sharing.Much of the modern business world is about problem solving, and RingCentral does just that for its customers – and the results are clear in the revenues and stock performance. The top line number has been increasing through 2020, with the Q3 revenues coming in at $303 million for a 9.3% sequential gain. The shares recovered easily from the mid-winter COVID swoon, and the stock is trading up 76% so far this year.On the negative side, RingCentral operates at a net loss, and that net loss has been deepening even as revenues rose and the stock appreciated. The Q3 EPS loss came in at 24 cents.James Fish, 5-star analyst with Piper Sandler, wrote the review on RNG, and he is upbeat about the company’s future. “RingCentral is winning new customers and expanding with existing given its ability to converge across the communication software stack, including with contact center… we continue to recommend RingCentral as one of our 'core 4' in our coverage and a name to own for the next few years,” Fish commented. As a result, Fish reiterates RNG as his Top Pick. The analyst rates the stock an Overweight (i.e. Buy) alongside a $362 price target. At current levels, that indicates a possible 21% upside for the coming year. (To watch Fish’s track record, click here)Overall, RingCentral has 10 recent reviews, including 9 Buys and 1 Hold, making the analyst consensus view a Strong Buy. The average price target is $337.22, which suggests a 13% upside from the current trading price of $297.79. (See RNG stock analysis on TipRanks)DraftKings, Inc. (DKNG)The world of fantasy sports helps bring fans into the games, and now that the pro leagues have resumed play – albeit for abbreviated seasons, in deference to the coronavirus – DraftKings, which take fantasy leagues online, has been making gains. In addition to fantasy league creation, DraftKings offers sports betting, and the company’s online model has fit in well with the social distance restrictions put in place to combat the ongoing virus health crisis.In the third quarter, whose results were reported earlier this month, DraftKings had plenty of good news. Revenue, at $133 million, beat the forecast by $1 million, and the net loss per share was not as deep as analysts had feared. The company reported a key metric – monthly unique players – surpassing 1 million, an important milestone. Looking ahead, DraftKings revised its fiscal 2020 guidance upward, by 5.7% at the midpoint of the range, to $540 million to $560 million. The midpoint for 2021 revenue expectations is even more bullish, at $800 million.As noted, these gains come as the major sports leagues have returned to play. But that is not the only key here. DraftKings operates in 19 states plus DC – the jurisdictions which permit legal online sports betting. But an additional 8 states are in various stages of legalizing DraftKings’ niche, and the company looks forward to expanding its operations.Summing up the prospects for DraftKings, Rosenblatt analyst Bernie McTernan writes, “[DKNG] remains a top pick in our Consumer Tech coverage. 3Q results will continue the positive revenue estimate revisions given the better than expected guide for '20E and '21E. We are at the high end of the '21E range which we believe is achievable given our expectation for at least MI and VA coming online."The analyst added, "New state launches will pressure near-term adj. EBITDA but encouragingly the company indicates NJ, their most mature market, is in a similar spot where they had previously hoped it would be for its ramp in profitability.”McTernan rates DKNG a Buy, and his $65 price target implies a robust 41% one-year upside. (To watch McTernan’s track record, click here)All in all, there 19 reviews on record for DraftKings, including 13 Buys and 6 Holds, giving the stock a Moderate Buy rating from the analyst consensus. The shares are currently priced at $46.24 and have an average price target of $59, making the upside potential for the year ahead 38%. (See DKNG 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. 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  • Arrival, An EV Bus Maker That Rivals Rivian, Going Public Via SPAC

    Another electric vehicle company is going public via the SPAC route with a new deal confirmed Wednesday.The Deal: Arrival, a U.K. electric vehicle company, is going public via CIIG Merger Corp (NASDAQ: CIIC). The deal values the company at $5.4 billion, according to CNBC. Arrival was valued at $3.5 billion back in January.CIIG Merger Corp is backed by Peter Cuneo, the former CEO of Remington and Marvel.Investors in the company include UPS (NYSE: UPS), Hyundai, Kia and BlackRock.Related Link: UK Electric Vehicle Maker Arrival Raises 8M From Blackrock As It Gears For US Factory LaunchAbout Arrival: One of the things that Arrival said sets the company apart from rivals like Amazon-backed (NASDAQ: AMZN) Rivian is its microfactories.Arrival is planning on building three or four microfactories, which are smaller auto production lines that can be packed into existing warehouse real estate. The factories that are 20,000 square feet cost around $45 million to make. Each microfactory will have a goal of producing 10,000 electric vans a year.Arrival said it stands out from rivals as it focuses on the commercial market instead of selling to consumers. The company covers production to development with full vertical integration.UPS Deal: Arrival has a deal in place with UPS for 10,000 electric vans. The vehicles will be built specifically for UPS, which will help co-develop the vehicles."Taking an active investment role in Arrival enables UPS to collaborate on the design and production of the world's most advanced electric delivery vehicles." UPS Chief Information Officer Juan Perez said when the deal was announced.An equity investment from UPS gives the company early access to Arrival's vehicles and the ability to fast track orders.UPS electric vans made by Arrival will be used in Europe and North America.What's Next: Arrival said it will start producing its electric buses in the fourth quarter of 2021 and electric vans in the second quarter of 2022.The vehicles will have a price point similar or be cheaper than diesel vehicles.Shares of CIIG Merger Corp are up 22% to $13.10 on Wednesday.See more from Benzinga * Click here for options trades from Benzinga * Tesla's S&P 500 Inclusion Could Move Elon Musk Up Billionaire Ladder * 'We're In A Race,' Lordstown Motors CEO Tells Cramer(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.