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Walmart plans to sell more PS5 and Xbox Series X consoles on Thursday

Richard Lawler
·Senior News Editor
·1 min read

As Microsoft and Sony have explained, supply of the next-gen gaming consoles is expected to be tight for the next several months at least. Those trying to track down a PlayStation 5 or Xbox Series X have faced long odds, with stock somewhat randomly popping up either directly from the manufacturers or via retailers.

If you want to buy a PS5 or Xbox Series X without waiting for Black Friday or paying high prices from resellers, set a reminder for 3 PM ET tomorrow, November 19th. Walmart said it will restock the PlayStation and Xbox consoles at that time, and the pages indicate you’ll also be able to snag the cheaper variants, like the PS5 Digital Edition or Xbox Series S as well.

Buy Xbox Series X at Walmart - $499 Buy Xbox Series S at Walmart - $299

Buy PlayStation 5 at Walmart - $499 Buy PlayStation 5 Digital at Walmart- $399

Latest Stories

  • The 3 Hottest Electric Vehicle Stocks Of The Year

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  • When Tesla Joins the S&P 500, You Know It’s Game Over

    (Bloomberg Opinion) -- In an anecdote often attributed to President John F. Kennedy’s father, the moment he knew to get out of the 1920s stock market boom was when he started receiving share tips from his shoeshine boy. You can make a similar argument about the moment that leading equity indexes finally give their blessing to an up-and-coming stock. The latest and most dramatic instance of that will happen next month, when the S&P 500  will admit Tesla Inc. through its club doors for the first time.Take Yahoo Inc. The archetypal dotcom business found its way into America’s prime share index in December 1999, just four months before a collapse in internet stocks that took the U.S. more than a decade to recover from. New admissions in the mid-2000s were rich with real estate plays such as CBRE Group Inc., Boston Properties Inc., and Kimco Realty Corp. Those companies were then hammered by the subprime and 2008 financial crises. Is this time really going to be any different?To be sure, it looks like Tesla is on more solid footing than two years ago, when regulators were lobbing fraud charges against Elon Musk and the company was, in his words, “single-digit weeks” away from bankruptcy. Its elevation to the S&P 500 had been predicted ever since second-quarter results chalked up a fourth consecutive period of profit, passing one crucial criterion that keeps a lot of startups out of the index.Looked at from the more exacting perspective of operating cash, it’s doing even better. The $2.4 billion inflow in the third quarter alone was more than total operating cash in the decade through September 2019. The auto industry as a whole seems to be performing remarkably well in the grip of Covid-19, with the S&P’s automobile and parts sub-index Monday hitting its highest level in more than two years.Tesla is already the 11th-largest company by market capitalization on U.S. exchanges, worth about as much as the world's three biggest carmakers Toyota Motor Corp., Volkswagen AG and General Motors Co. put together. Casual investors are likely to see their index-tracking funds turn them into indirect Tesla shareholders whether they like it or not. So what’s not to like?The lingering question is around valuation. Tesla is past the point where it’s at imminent risk of demise, but it’s still very hard to justify the price put on the stock. Returns on equity are only just pulling even with the broader automobiles sub-index. Even analyst estimates that they’ll rise north of 20% over the coming years will only bring them in line with what were, until recently, considered normal levels for an industry that’s been out of favor with investors for years.That sort of pedestrian financial performance is hard to square with Tesla’s eye-wateringly expensive stock. The median price of S&P 500 constituents is 20.89 times blended forward 12-month earnings. Tesla’s price-earnings ratio is 113, which would be enough to give it the richest rating on the index after Under Armour Inc., Boeing Co., and SBA Communications Corp. Comparing forward Ebitda to enterprise value, just six companies have higher valuations than Tesla’s 49.51 times multiple.It’s very hard to see how Tesla will be able to justify those valuations in the long term. That’s the case even if you agree with the most bullish analysts and assume the company will be producing about $10 billion a year of net income by 2022 or 2023, compared with $556 million over the past 12 months. On those numbers, a 20 times price-earnings multiple would produce a business worth not much more than half of Tesla’s current $387 billion market cap.That’s the true lesson for newcomers to the big indexes. For every Yahoo or AOL Inc. that turns into a parable of market excess, there’s a Kimco or CBRE that survives but never recaptures the magic that propelled it into the limelight. Yahoo’s 1999 hype ultimately fell victim to the better search technology being developed by a then little-known startup called Google. The race to dominate electric vehicles over the coming decade will scarcely be less competitive. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Nvidia Crushed Earnings Estimates. Its Stock Is Slipping.

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  • 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.

  • 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.

  • 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.

  • FuelCell's stock doubles in 4 days on increasing volume

    Shares of FuelCell Energy Inc. soared 33.0% in very active afternoon trading Wednesday, putting them on track to more-than double in four days, despite no news released by the company. With the stock rallying 11.3% on Friday, soaring 31.4% on Monday and climbing 10.0% on Tuesday, it has now rocketed 114.1% during its current win streak. That's the best four-day run for the fuel cell technology and power generation company's stock since it tripled (up 205.4%) during the four days ended Dec. 31, 2019. Trading volume has increased during the current win streak, from 46.0 million shares on Friday, to 96.3 million shares on Monday and to 150.4 million shares on Tuesday. On Wednesday, volume was 129.9 million share with roughly three hours left before the closing bell. FuelCell did not immediately respond to a request for comment. The last press release issued by the company was on Oct. 9, when the company announced an $8 million award from the U.S. Department of Energy to design and manufacture an electrolysis platform capable of producing hydrogen. The stock's rally comes amid growing investor interest in renewable energy stocks, particularly since the presidential election, as President-elect Biden has said he would look to transition away from fossil fuels. FuelCell's stock has climbed 136.2% since Nov. 3, after plunging 93.0% over the previous four years. In comparison, the S&P 500 has gained 7.3% since the election. Separately, a report from the U.S. SIF Foundation showed that investments in environmental, social and governance (ESG) factors now total about $17.1 trillion, or about one-third of total U.S. assets under management.

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  • Hedge funds sold Moderna, BioNtech shares before vaccine news

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  • Arrival, An EV Bus Maker That Rivals Rivian, Going Public Via SPAC

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