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November jobs report: U.S. likely added 470,000 jobs, smallest number in 7 months

Check back at 8:30 a.m. ET for the results

Rohingya must have choice on going to Bangladesh island - UN refugee agency

·1 min read

GENEVA, Dec 4 (Reuters) - Rohingya refugees must be able to make free and informed decisions about relocating to Bangladesh's Bhashan Char island, the United Nations refugee agency said on Friday as naval vessels began carrying some 1,600 towards the remote site.

The U.N. High Commissioner for Refugees (UNHCR) called on Bangladesh to uphold its commitment that relocation of Rohingya to the island will be voluntary, spokesman Babar Baloch told a U.N. briefing in Geneva.

UNHCR stood ready to evaluate conditions on the island to ensure that it is a "safe and sustainable place for refugees to live", if permitted by the government, he said.

(Reporting by Stephanie Nebehay; Editing by Michael Shields)

Latest Stories

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    Jim Cramer has given his "blessing" for investors to buy shares of CIIG Merger Corp (NASDAQ: CIIC), the blank-check company merging with British electric vehicle company Arrival.What Happened: The "Mad Money" host said on his CNBC show that if the stock "comes down below $17.50, you can buy it hand over fist, because this one has the best claim to be the son of Tesla -- or daughter, to break the tyranny of that awful cliche."The automaker, backed by United Parcel Service, Inc (NYSE: UPS), Hyundai Motor Company (OTC: HYMTF), and BlackRock Inc (NYSE: BLK) is "revolutionizing the entire auto industry, and they own a ton of intellectual property," according to Cramer."They make all their own components, they'll be cost competitive with gasoline and diesel, and that's why Arrival got that $5 billion valuation from the get-go," explained Cramer.Cramer said Arrival's microfactory concept could have an impact beyond auto industry and it could "revolutionize manufacturing.""If they can make an electric van or truck with a lower cost of ownership than the fossil fuel-powered alternatives, that's a whole new ballgame," the former hedge-fund manager theorized.Why It Matters: The merger between CIIG Merger and Arrival was reported last month. The former is backed by Peter Cuneo, the former CEO of Remington and Marvel.BlackRock has pumped in 8 million into Arrival, which would allow the London-based company to open a manufacturing facility in the United States.UPS has placed an order of 10,000 electric vans with Arrival, worth approximately $500 million.Price Action: CIIG Merger shares rose 16.06% to $25.01 in the after-hours session on Thursday and closed nearly 9.6% higher at $21.55.Related Link: A First Look At Amazon's Rivian-Made Electric Delivery VanClick here to check out Benzinga's EV Hub for the latest electric vehicles news. See more from Benzinga * Click here for options trades from Benzinga * Tesla Remains Only Automaker To Grow In Germany Through November, With 37% Rise In Registrations * Moderna Says It Will Ship 100M-125M COVID-19 Vaccine Doses Worldwide In Q1(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Where’s the stock market going next? Look at the 1960s for an answer, says a Fidelity strategist

    What's striking is that the stock market after the global financial crisis is closely tracking the bull markets between 1949 and 1968, and the one between 1982 and 2000.

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  • 3 Penny Stocks Under $5 With Massive Upside Ahead

    Investors know that the key to profits is in the return – and that means, a willingness to shoulder risk. Risk is relative, of course, and tends to run hand-in-hand with the return potential. Find a stock with a giant return potential, and chances are, you’ve also found one with a higher risk profile. The highest returns usually come along with the lowest share prices. After all, when a stock is priced for just pennies, even a small gain in share price translates into a huge return. Which means that penny stocks – these days, usually seen as those equities priced under $5 – combine a perfect storm of market attractions: low share price, high return potential, and higher than usual risk. Using the TipRanks database, we’ve pulled up details on three compelling stocks that fit this profile of low share price and huge upside potential, 100% or more, according to Wall Street analysts. Cinedigm Corporation (CIDM)We’ll start with Cinedigm, the LA-based entertainment company specializing in content marketing and distribution along with digital cinema. Cinedigm is an independent studio for film, TV, and digital production. The company distributes digital media across a variety of content networks.Back in June, CIDM shares showed a sharp spike when the company announced its partnership with Vewd, the world’s largest OTT software provider for Smart TVs, a growing segment of the digital viewing world. Customers are shifting away from cable TV and more and more toward streaming. A working relationship with a Smart TV software company would give Cinedigm access to Vewd’s installed customer base – more than 300 million Smart TV sets. Revenues in 2020 have been fairly stable. For Q1, Q2, and Q3, the top line came in at $7.74 million, $6.02 million, and $7.18 million. The Q3 number holds the middle spot in that range. Earnings, however, missed expectations. At a 23-cent per share loss, the EPS came in 17-cents below expectations. On a positive note, CIDM reported a year-over-year sales increase in its core business of ad-based video on demand of 27%.Covering the stock for Benchmark, 5-star analyst Daniel Kurnos points out a few reasons why he thinks Cinedigm "is becoming a much more intriguing investment proposition, particularly at these levels: 1) Organic growth is still building, with the legacy channel lineup strategy on pace to achieve the 30 channel milestone 12 months ahead of schedule; 2) A new highly accretive, streaming roll-up strategy is emerging that Cinedigm is in the best position to execute with minimal competition; 3) No credence or value is being given any more to Cinedigm’s digital projector inventory or Starrise stake, both of which should ultimately benefit in a post-COVID world."In line with his bullish stance, Kurnos rates CIDM a Buy, and his $3.50 price target implies room for a stunning 573% upside potential in the next 12 months. (To watch Kurnos’s track record, click here)Currently, CIDM has 2 reviews on record, making the stock a Moderate Buy. The shares are selling for 53 cents, and the $2.75 average price target suggests an impressive 418% upside on the one-year time horizon. (See CIDM stock analysis on TipRanks)Kubient (KBNT)Content distribution relies heavily on marketing and monetization for its profits, and that’s where Kubient comes in. This cloud software company offers an ad platform that connects publishers and marketing directly with their audiences. The company works with audience automation to collect data, connect brands, and create a transparent ad environment across digital channels.Kubient is a new company in the stock market, having held its IPO just this past August. The initial offering brought in $12.5 million gross, selling 2.5 million shares at $5 each. During those first few months of public trading, which included the end of the calendar third quarter, Kubient reported some solid Q3 revenue results. The top line rose from $92,000 in Q3 to $280,000. The year-over-year gain was even more impressive, reaching 400%.Maxim analyst Jack Vander Aarde believes that Kubient holds a strong position to bring real changes to its industry. The 5-star analyst writes of the company’s potential, “KBNT’s core offering, Audience Cloud, seeks to disrupt the $325B+ digital advertising market and address the industry’s current pain points. In 2019, advertisers lost ~$42B to ad fraud, which is forecast to grow into a $100B problem by 2023, but Kubient has a potential game-changing solution called KAI [...] We project 2021 revenue of $6.6M, up 211% y/y, and 2022 revenue of $17.4M, up 164% y/y. The business is highly scalable and should unlock significant operating leverage as revenue grows.”To this end, Vander Aarde rates KBNT a Buy along with a $10 price target. This figure suggests 154% upside growth from the current share price of $4. (To watch Vander Aarde’s track record, click here)Orion Group Holdings (ORN)The construction industry brings to mind home construction and hard hats putting up high rises, and that’s the usual experience most of us have. But Orion Group Holdings occupies a specialty niche in the industry, focusing on civil marine construction, industry, and commercial concrete. The company owns subsidiaries that each concentrate on a different niche, allowing them to hone their skills in some vital – even if less recognized – sectors of the construction world.The company’s share price through this year shows both its resilience and the importance of the construction industry to the economy. ORN shares fell sharply in mid-winter, when the coronavirus hit hard at the economy by forcing lockdown policies – but it has regained ground as the economy has reopened, and has recouped more than half of its losses from that time. Overall, however, ORN is still down ~20% year-to-date.Orion’s quarterly fiscal results also show the tale. The company registered a sequential loss in Q1, but has shown gains since then. For the calendar third quarter, ORN reported $189 million at the top line. EPS has performed even better this year, beating the forecast in Q1 when a loss was expected and the actual result was an 8-cent per share profit – and spiking to 23 cents per share, or 187% above the forecast, in Q3.In a positive development heading into the end of the year, in November Orion’s concrete segment won three major contracts in Texas. The projects are located in the Houston area, and total some $52 million.Noble analyst Poe Fratt feels that this stock has room for growth, and promises returns for investors. He writes, “[We] believe that the current stock price doesn't fairly reflect the ISG restructuring improvements and the positive outlook. A combination of above-average backlog, improved profitability, lower financial leverage and attractive valuation of 2.8x 2020E EBITDA and 2.4x 2021E EBITDA supports our view that the risk/reward profile remains compelling.”Fratt’s $8.25 price target implies a 101% upside for the year ahead. He rates the stock as Outperform (i.e. Buy). (To watch Fratt’s track record, click here)The two recent Buy ratings on ORN make the analyst consensus view a Moderate Buy. The average price target of $8.13 suggests a 100% growth potential for the next year. Shares are currently selling for $4.08. (See ORN stock analysis on TipRanks)To find good ideas for penny 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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  • Nio vs Tesla: Which Stock Looks More Attractive As EV Competition Heats Up?

    Recent numbers reported by Nio, Xpeng and Tesla clearly indicate the growing demand for electric vehicles, driven by technological advances and favorable sustainability policies. EV adoption is increasing and Goldman Sachs now expects EVs to account for 18% of global new light vehicle sales in 2030 and speed up to 29% in 2035.Goldman Sachs explains that EV penetration is accelerating as battery prices are falling faster than expected, which improves the economics of owning an EV. Also, it cites the recent increase in regulatory proposals from some jurisdictions to limit or ban the sale of new internal combustion engine vehicles entirely in 10-20 years as another catalyst for EV sales.So, with a favorable demand backdrop, we will pit EV leader Tesla against its nemesis, Nio, and use the TipRanks Stock Comparison tool to select the more attractive stock.Nio (NIO)China-based premium EV maker Nio is racing in the world’s largest EV market with its 7-seater and 6-seater electric SUV ES8, 5-seater electric SUV ES6 and the recently launched 5-seater electric coupe SUV EC6. Nio investors have hit the jackpot as shares have gained about 1,028% year-to-date.So, what has fueled this unbelievable rally? Well, the reasons include a strong third quarter, bullish outlook on China’s NEV (New Energy Vehicles) market and media reports about Nio entering the European market with the launch of its ES8 and ES6 models in 2021.Adding to the positive sentiment, Nio this week reported its November deliveries, which more than doubled year-over-year to 5,291 vehicles. This brings the total deliveries so far this year to 36,721, reflecting a 111% year-over-year increase. (See NIO stock analysis on TipRanks)The demand that Nio is experiencing is so strong that the company has now decided to accelerate its capacity expansion in December to keep up with the rising orders. Last month, Nio’s CEO William Bin Li stated, “In view of the growing market demand for our competitive products, we are motivated to continuously elevate the production capacity to the next level. We expect to deliver 16,500 to 17,000 vehicles in the coming fourth quarter.”Nio’s improving prospects prompted Goldman Sachs analyst Fei Fang to upgrade the stock to Hold from Sell and boost the price target to $59 from $7.70. In a note to investors, Fang stated, “In hindsight, we underestimated the benefits to Nio from: (1) powertrain breakthroughs, particularly with the cell-to-pack/blade large cell technologies; (2) the introduction of Nio’s battery as a service (BaaS) program, which has significantly expanded Nio’s addressable market; and (3) regulatory incentives that turned around EV market demand from an ongoing decline. Combined, all of these factors have provided significant tailwinds to Nio’s sale volumes.”On Wednesday, UBS analyst Paul Gong also raised his price target on NIO to $55 from $16.30, while maintaining a Hold rating.Looking ahead, there is a lot of buzz surrounding the company’s annual event, "Nio Day", slated for January, where the EV maker is expected to launch its first sedan.Currently, the Street has a cautiously optimistic outlook on Nio, with a Moderate Buy analyst consensus that breaks down into 7 Buys and 4 Holds. Given the staggering year-to-date rise, the average price target of $49.01 reflects an upside potential of 8.1% in the months ahead.     Tesla (TSLA)Tesla is firing on all cylinders and the EV pioneer is taking the right measures to sustain its global leadership. Following pandemic-led disruptions earlier this year, Tesla bounced back in remarkable fashion, with a 44% rise in deliveries to 139,593 in the third quarter—CEO Elon Musk called it the “best quarter in history.” Tesla’s long-awaited inclusion in the S&P 500 and five consecutive profitable quarters have led to a meteoric year-to-date rise of 609% in its stock. The company is now focusing on cutting its costs and improving its profitability while investing billions of dollars in capacity expansion at the Shanghai factory and new factories in Berlin, Germany and Austin, Texas. (See TSLA stock analysis on TipRanks)Emphasizing the focus on the bottom line, Musk stated in an email (which Electrek had access to) to employees, “Investors are giving us a lot of credit for future profitability, but if, at any point, they conclude that's not going to happen, our stock will immediately get crushed like a souffle under a sledgehammer!”Improving its profitability is even more vital for Tesla as it intends to make its EVs more affordable at a time when auto giants like Ford and General Motors are ramping up their EV investments and China-based EV makers are coming after its market share.Meanwhile, Tesla is gearing up to expand its market share in the huge Chinese EV market. The company was already selling its Model 3 electric cars in China and has now been granted permission to sell its Shanghai-made Model Y SUVs in the region. On Dec. 2, Goldman Sachs flipped from the sidelines to a Tesla bull, with a Street-high price target of $780 (up from $455). Writing for Goldman Sachs, Mark Delaney highlighted the accelerating EV adoption and stated, “Importantly, we expect that Tesla’s integrated model (including its coupling of custom hardware and software, platform approach with significant parts overlap between key products like the Model 3 and Y, and its ability to offer a full ecosystem of products for consumers including solar, storage, and convenient access to fast charging) will help it to sustain a leadership position in the EV market.”“If Tesla sustains its mid to high 20% range share of the EV market, then it could reach 15 mn units by 2040 (and about 20 mn under our upside-case EV market adoption scenario),” added Delaney.Additionally, Delaney believes that Tesla’s energy and full self-driving software businesses could be more valuable than he previously anticipated. The analyst also expects the company’s margins to expand due to a favorable mix shift to Model Y.The Street, meanwhile, has a Hold analyst consensus on Tesla with 10 Buys, 8 Holds and 7 Sells. Given the staggering rise in the shares, the average price target of $403.24 indicates a possible downside of 32% from current levels. ConclusionTesla’s technology, innovations, leadership in the EV space and improving profitability make it an attractive long-term play. However, the Street is essentially sidelined on the stock mainly due to its sky-high valuation, and as several critics point out—the role of emission credits in making Tesla profitable in recent quarters. The Street currently has a more favorable near-term outlook on Nio stock. That said, investors need to tread carefully due to lofty valuations, especially for a company that is not generating a profit yet.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

  • Jim Cramer On Tesla Upgrade, Salesforce's Slack Acquisition

    CNBC's Jim Cramer shared his first thoughts on the market Thursday, covering an upgrade on Tesla Inc (NASDAQ: TSLA) and the acquisition of Slack Technologies (NYSE: WORK) by Salesforce.com Inc (NYSE: CRM).Cramer on Tesla: Goldman Sachs upgraded shares of Tesla from Neutral to Buy and raised the price target from $455 to $780."I felt the guy's pain," Cramer said on upgrading shares.The Goldman Sachs price target is the highest of all analysts right now. It comes after the bank downgraded Tesla in June on demand concerns. The bank said Wednesday they were "incorrect."Cramer called the analyst note a "tough situation to upgrade up here."Related Link: Tesla's Valuation Easier To Justify As Tech Company, Not AutoCramer on Salesforce: Cramer shared his thoughts on Salesforce and the stock falling off after announcing its $27 billion acquisition of Slack."Slack had a great quarter, took in a lot of customers," Cramer said.He said Salesforce can now take on Microsoft Corporation (NASDAQ: MSFT) with the deal: I think you have to do it."Cramer said this deal is a way for Salesforce to become a $500 billion company. He said Salesforce can help Slack do three times the amount of sales it's currently doing.Slack now has a bundling case against Microsoft, said Cramer, and he's "very surprised people aren't even looking at how well Slack is doing."Price Action: Shares of Tesla are up 4% to $590.71 in pre-market trading Thursday. Salesforce shares are up 2% to $225.96.See more from Benzinga * Click here for options trades from Benzinga * Why Sony's PlayStation 5 Is Winning What Could Be The Last Console War * Discovery+ Streaming Platform Could Win Big With Strong Brand, Content Library(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Nio, Snap Show Rare Chart Pattern, But Are They Buys?

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  • Top Solar Stocks for Q1 2021

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  • Apple, Tesla, DocuSign And 12 Others In Morgan Stanley's 'Secular Growth Stocks' Lineup For 2021

    Morgan Stanley has released its "Secular Growth Stocks" list for 2021, as reported by CNBC on Wednesday.Analysts at the investment bank said it based the selection of stocks on criteria like sustainable competitive advantages, product cycles, market share gains, and pricing power that would drive strong growth.The stocks included in the list -- which features Apple Inc. (NASDAQ: AAPL) and Tesla Inc. (NASDAQ: TSLA) -- all have "reasonable valuations" and only stocks rated Overweight or Equal Weight by Morgan Stanley analysts are included, the report says, as per CNBC.The stocks in the list, also featuring Amazon.com Inc. (NASDAQ: AMZN) and Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOG), are expected to generate positive revenue growth in the two fiscal years following 2020, as per one of the criteria chosen by Morgan Stanley.The investment bank, which recently upgraded Tesla to Overweight, said the electric vehicle maker is anticipated to generate a "higher percentage of revenue from recurring/high-margin services revenue."See Also: Tesla Gets Goldman Sachs Upgrade With 0 Price TargetAmazon has benefited from the COVID-19 pandemic and is well-positioned for the post-pandemic era with the expansion of its fulfillment and shipping network, as per Morgan Stanley. Advertising, subscriptions, and cloud segment seeing fast growth also contributes to the bank's outlook of the e-commerce giant.Apple's addition is primarily based on the outlook for the new line of 5G iPhones, as per CNBC. Morgan Stanley also sees Google parent Alphabet as a secular growth play based on advertising segment and video streaming through YouTube.Docusign Inc. (NASDAQ: DOCU) also features as a secular play, having established as the leader of the $25 billion+ eSignature market, Morgan Stanley reportedly noted.Other secular growth stocks listed by the investment bank, as per CNBC, include:Chewy Inc. (NYSE: CHWY)Datadog Inc. (NASDAQ: DDOG)Equinix Inc. (NASDAQ: EQIX)Facebook Inc. (NASDAQ: FB)Lulumelon Athletica Inc. (NASDAQ: LULU)Mastercard Inc. (NYSE: MA)Microsoft Corporation (NASDAQ: MSFT)Netflix Inc. (NASDAQ: NFLX)Prologis Inc. (NYSE: PLD)Salesforce.com Inc. (NYSE: CRM)Related Link: Tesla, Nio, Nikola, Zoom -- Stocks The Largest US Pension Fund Is Betting OnPhoto courtesy: WikimediaLatest Ratings for FB DateFirmActionFromTo Oct 2020Truist SecuritiesMaintainsBuy Oct 2020Wells FargoMaintainsOverweight Oct 2020MizuhoMaintainsBuy View More Analyst Ratings for FB View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Twitter Fleets Could Be Accessed Long Beyond 24 Hours Due To Glitch(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • David Einhorn Has Made a Lot of Bad Bets — And One Very Good One

    (Bloomberg) -- It’s been a tough year for David Einhorn, one-time enfant terrible of hedge funds.In fact, it’s been a tough six years: his flagship fund has lost 34% since the start of 2015. But after so many missteps, Einhorn, 52, still has one big thing going for him, and it starts in Plano, Texas. It’s called Green Brick Partners Inc., and it’s been propping up the otherwise-shaky returns coming out of Einhorn’s loss-ridden Greenlight Capital.Einhorn’s losing investments -- notably, his high-profile bets against technology shares, including darlings Tesla Inc. and Netflix Inc. -- have gotten a lot of unwanted attention lately. But his years-long investment in the homebuilder Green Brick has been paying off handsomely, cushioning what would otherwise have been a dismal 2020.How important is Green Brick to Greenlight? So far this year, the homebuilder has added about 15 percentage points of performance, according to a person familiar with the matter, while the fund overall is down 1.1% through November.A Greenlight spokesman declined to comment on the fund’s returns or its positions.That quasi-private holding -- Greenlight owns almost 50% of the company -- isn’t Einhorn’s usual fare. He tends toward less chunky stakes in beaten-down shares such as life insurer Brighthouse Financial Inc. or aircraft leaser Aercap Holdings NV, which have soared with other value-oriented stocks of late -- though with a much smaller impact to the portfolio than Green Brick. Meanwhile, his bets against the technology giants have weighed on returns and helped put him near the bottom of any ranking of the best known hedge fund managers.Wary ClientsClients have taken notice.Greenlight managed $2.6 billion at the beginning of January, down from a peak of $12 billion in 2015, a period where he’s averaged a 7% annual loss. And while the firm has been open to new investments for the past two years, there’s no sign of any takers.Einhorn started Greenlight in 1996 when he was just 27 and over the next 18 years posted annualized returns of about 20%. Among his prescient calls were the dot-com bust and the demise of Lehman Brothers Holdings.In 2015 the streak ended with a 20% loss, and three years later he shed another 34%. Investors hit the exits.That 2020 isn’t looking like those terrible years is in large part thanks to Green Brick. The company was born out of Einhorn’s relationship with Jim Brickman, a Texas developer he’d known and discussed investments with since 2002.In 2009, Greenlight invested in a fund set up by Brickman to develop homes. It went public in October 2014 with the hedge fund manager as chairman.The stock bounced around $10 until earlier this year. With historically low mortgage rates thanks to the Federal Reserve’s unprecedented response to March’s market crisis, as well as pandemic-driven demand for single-family detached housing, it has soared to more than $22. Last month, Green Brick gained 22%, more than double the 10% return for the S&P Homebuilders Select Industry Total Return Index.While Greenlight’s portfolio is near flat for the year -- well behind the S&P 500’s 13.5% gain -- in the past two months the fund has jumped 18% as growth shares lagged their cheaper brethren for the first time in years.But his aggressive bets against the tech sector haven’t shown signs of working out yet. In October he said the shares had peaked in early September, and that he had shorted a basket of bubble stocks. The Nasdaq 100 sits at roughly the same level today. He previously pronounced a tech bubble in April 2014, only to see that index gain almost 250%Among his most public wagers have been Tesla and Netflix, which he’s been short since at least 2015. At the end of last year he increased his bet against Netflix, which has gained 54% in 2020 as Covid-19 lockdowns boosted subscriptions. Einhorn has criticized Elon Musk’s Tesla for accounting irregularities among other issues, but the stock has rocketed about 600% this year, helped by its soon-to-be inclusion in the S&P 500.As more investors speculate that the current rotation out of growth and into value may stick this time, Einhorn expects his long slump will finally be over -- and that investors will see the wisdom of his wagers.“Our investing style is not a closet index of long value and short growth,” Einhorn said in an August client letter. “We look for security-specific differences of opinion and hope to capitalize on being right and the market eventually seeing it our way.”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.

  • The Pros And Cons Of Investing In Cruise Stocks Right Now

    Cruise lines were some of the hardest hit stocks in the market during the pandemic sell-off in early 2020, but they've been some of the top performers since the market bottomed.Cruises won't be resuming until 2021, but one analyst raised his price targets for cruise stocks based on increasing optimism about 2022 and beyond.The Analyst: Bank of America analyst Andrew Didora made the following price target adjustments on Thursday: * Carnival Corp (NYSE: CCL) reiterated a Neutral rating, price target raised from $15 to $22. * Royal Caribbean Cruises Ltd (NYSE: RCL), reiterated Neutral rating, price target raised from $34 to $60. * Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) reiterated Underperform rating, price target raised from $18 to $25. * Related Link: Cruise Stocks Sink After CDC Lifts Ban, Analyst Says New Guidelines Delay RecoveryThe Thesis: Didora highlighted some of the pros and cons of investing in cruise stocks at this point.Pros include the fact that cruise stocks are a pure play on a return to leisure activity, and the potential for highly effective coronavirus vaccines could put prior peak earnings back in play.Cons to investing in cruise stocks include a long path to revenue recovery and the need to potentially raise additional capital in the meantime. Didora is projecting revenue-generating cruise services will begin again in March based on the latest CDC requirements. Between now and then, Didora said the cruise lines will continue to pile on more net debt to stay afloat."With a delay in revenue service, additional capital is key, and balance sheet stress could continue," Didora wrote in the note.Bank of America is projecting 2021 year-end net debt for Carnival, Royal Caribbean and Norwegian will be 100%, 77% and 47% higher than 2019 levels, respectively. At the same time, diluted share counts will also be 56%, 6% and 46% higher, respectively.Benzinga's Take: The three cruise stocks are all up at least 80% since the March market low, which is a huge run for three businesses that are still dead in the water until at least March. The ultimate fate of the industry will be determined by how long it takes the leisure travel business to recover and whether or not the pandemic has permanently changed consumer demand.See more from Benzinga * Click here for options trades from Benzinga * Michael Burry Of 'The Big Short' Fame Confirms He's Shorting Tesla * Option Trader Bets .5M On Facebook Despite Trump's Section 230 Threat(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Tesla bear Chanos reduces size of his short bet: Bloomberg News

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  • Square's Cash App Launches A Clothing Line Because, Clearly, Bitcoin And Stocks Aren't Enough

    Square Inc's (NYSE: SQ) Cash App is launching a line of clothing, which it is referring to, rather congruously, as "Cash." What Happened: The launch of the apparel collection was announced on Twitter by Cash App.> Introducing our apparel collection, Cash by Cash App. Explore it at https://t.co/RgTLxDBtcc> > Get 25% off with your Cash Card. pic.twitter.com/VPoD6jBAPH> > -- Cash App (@CashApp) December 3, 2020The autumn-winter collection-- made up of leisurewear -- comprises of sweaters and sweatshirts and extends to raincoats and T-shirts ranging from $60 to $200.Square's brightly colored apparel is modeled by some rather unsettling looking 3D models on its website, which rotate 360 degrees in a frenzied manner, or make some questionable dance moves, when you tap on them.Customers who choose to pay using the Cash App can save 25%, according to the company's website.Why It Matters: The Cash App offers payments, banking, a cash card, and investing in stocks and Bitcoin.Last month, Mizuho analyst Dan Dolev upped his price target for the Jack Dorsey-led company from $225 to $300 as Cash App makes its foray into territories where PayPal Holdings Inc (NASDAQ: PYPL) enjoys popularity. Dolev noted that Cash App is broadening its monetization strategy and focusing on its business platform and debit card.In November, it was reported that the app's Bitcoin revenue grew a whopping 1100% in the third quarter.Price Action: Square shares closed 1.75% higher at $205.53 on Thursday.Related Link: Tesla Now Sells Tequila And It Comes In A 0 Thunderbolt-Shaped BottleSee more from Benzinga * Click here for options trades from Benzinga * Analyst Sees Square Hitting 0 On The Back Of Bitcoin-Heavy Cash App * PayPal, Square Gobbling Up All New Bitcoin Supply Fuels Current Price Spike: Report(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.