Landsbankinn hf. has published a supplement dated 19 January 2021 to the base prospectus for covered bond programme, dated 17 April 2020.
The supplement is available for viewing on Landsbankinn‘s website, www.landsbankinn.com/covered-bonds. Printed copies of the supplement can be obtained at Landsbankinn‘s headquarters at Austurstraeti 11 in Reykjavik.
Rivian, an electric vehicle startup backed by Amazon.com Inc and Ford Motor Co that aims to put an electric pickup and SUV in production this year, on Tuesday announced a $2.65-billion investment round led by T. Rowe Price. Rivian said it has raised $8 billion since the start of 2019. The California company's new valuation with this latest investment is $27.6 billion, according to a person familiar with Rivian's financials.
(Bloomberg) -- The Canadian province that invested $1.1 billion of taxpayers’ money in the controversial Keystone XL project is now considering the sale of pipe and materials to try to recoup some funds.“If the project ends, there would be assets that could be sold, such as enormous quantities of pipe,” Alberta Premier Jason Kenney said in a press conference Monday. “That would offset construction costs.”With Joe Biden set to be sworn in this week, the U.S. president-elect’s campaign promise to cancel the crude pipeline’s license is haunting the Canadian oil sands industry. The decision may come via executive action on his first day in office, CBC News reported on Sunday, citing people it didn’t identify.Meanwhile, the government of Justin Trudeau vowed to defend the project.Alberta, home to the world’s third-largest crude reserves, has struggled for years with a lack of pipeline capacity to ship its crude to the U.S. Gulf Coast and other markets. TC Energy Corp.’s Keystone XL was one of the possible pipelines the industry was counting on to solve that.The cancellation of Keystone XL would cost Alberta taxpayers just over C$1 billion ($785 million), Kenney said.In March, Kenney’s government agreed to fund the first year of construction with a $1.1 billion investment and to guarantee $4.2 billion of loans as a way to jump-start construction.The province and TC Energy have a “solid legal basis” to recoup damages through the courts, Kenney also said.Canadian Energy Minister Seamus O’Regan said the federal government continues to support Keystone XL and will make the case for the project to the Biden administration.“Canadian oil is produced under strong environmental and climate policy frameworks, and this project will not only strengthen the vital Canada-U.S. energy relationship, but create thousands of good jobs for workers on both sides of the border,” said O’Regan in an email.Kenney stressed that the federal government had said the pipeline is the “the top priority” of Canada’s relationship with the U.S.“Sit down and review the many facts that have changed since KXL was proposed a decade ago,” Kenney said, citing reduced carbon emissions from the oil sands, labor agreements and an indigenous stake in the pipeline.More than a decade old, the Keystone XL project was first rejected by former-President Barack Obama due to concern about climate change, but his successor Donald Trump issued a new permit when he took office.The Canadian Association of Petroleum Producers said that canceling the project would kill thousands of jobs and offered to work with stakeholders to find a solution to complete the pipeline.From the archive: Why the Keystone XL Pipeline Project Is Controversial: QuickTakeFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Analyst Matthew Harrison raised his rating on the stock from a Hold to a Buy, setting a price target of $83. If he proves right, there’s still more than 20% upside to the stock.
See what the experts anticipate for home borrowers under the new administration.
THE MONEYIST Dear Moneyist, I am writing because I have been reading so many different questions, answers and as much general information I can find, but I just want one simple answer — and quickly! My husband and I and our child received the first stimulus check from his 2018 tax return.
You can get your return ready and get the most out of your income while you wait.
Stock markets are up and holding near record high levels, a condition that would usually make life difficult for dividend investors. High market values normally lead to lower dividend yields – but even in today’s climate, it’s still possible to find a high-yielding dividend payer. You need to look carefully, however. The market story of the past year has been unusual, to say the least. Last winter saw the steepest and deepest recession in market history – but it was followed by a fast recovery that is only now slowing. Many companies pulled back on their dividends at the height of the corona panic, but now they are finding that yields are too low to attract investors, and are looking to start increasing payments again. In short, the valuation balance of the stock market is out of whack, and equities are still trying to regain it. It’s leaving a murky picture for investors as they try to navigate these muddy waters. Wall Street’s analysts and the TipRanks database together can bring some sense to the seemingly patternless situation. The analysts review the stocks, and explain how they are fitting in; the TipRanks data provides an objective context, and you can decide if these 10% dividend yields are right for your portfolio. Ready Capital Corporation (RC) We will start with a real estate investment trust (REIT) that focuses on the commercial market segment. Ready Capital buys up commercial real estate loans, and securities backed by them, as well as originating, financing, and managing such loans. The company’s portfolio also includes multi-family dwellings. Ready Capital reported solid results in its last quarterly statement, for 3Q20. Earnings came in at 63 cents per share. This result beat expectations by 75% and grew 133% year-over-year. The company finished Q3 with over $221 million in available cash and liquidity. During the fourth quarter of 2020, Ready Capital closed loans totaling $225 million for projects in 11 states. The projects include refinancing, redevelopment, and renovations. Fourth quarter full results will be reported in March. The extent of Ready Capital’s confidence can be seen in the company’s recent announcement that it will merge with Anworth Mortgage in a deal that will create a $1 billion combined entity. In the meantime, investors should note that Ready Capital announced its 4Q20 dividend, and the payment was increased for the second time in a row. The company had slashed the dividend in the second quarter, when COVID hit, as a precaution against depressed earnings, but has been raising the payment as the pandemic fears begin to ease. The current dividend of 35 cents per share will be paid out at the end of this month; it annualizes to $1.40 and gives a sky-high yield of 12%. Covering the stock from Raymond James, 5-star analyst Stephen Laws writes, “Recent results have benefited from non-interest income and strength in the loan origination segment, and we expect elevated contributions to continue near-term. This outlook gives us increased confidence around dividend sustainability, which we believe warrants a higher valuation multiple.” Laws sees the company’s merger with Anworth as a net-positive, and referring to the combination, says, “[We] expect RC to redeploy capital currently invested in the ANH portfolio into new investments in RC's targeted asset classes.” In line with his comments, Laws rates RC shares an Outperform (i.e. Buy), and sets a $14.25 price target. His target implies an upside of 23% over the next 12 months. (To watch Laws’ track record, click here) There are two recent reviews of Ready Capital and both are Buys, giving the stock a Moderate Buy consensus rating. Shares in this REIT are selling for $11.57 while the average price target stands at $13.63, indicating room for ~18% upside growth in the coming year. (See RC stock analysis on TipRanks) Nustar Energy LP (NS) The energy and liquid chemical markets may not seem like natural partners, but they do see a lot of overlap. Crude oil and natural gas are highly hazardous to transport and store, an important attribute they share with industrial chemicals and products like ammonia and asphalt. Nustar Energy is an important midstream player in the oil industry, with more than 10,000 miles of pipeline, along 73 terminal and storage facilities. The relatively low oil prices of the past two years have cut into the top and bottom lines of the energy sector – and that is without accounting for the COVID pandemic’s hit to the demand side. These factors are visible in Nustar’s revenues, which fell off in the first half of 2019 and have remained low since. The 3Q20 number, at $362 million, stands near the median value of the last six quarters. Through all of this, Nustar has maintained its commitment to a solid dividend payout for investors. In a nod to the pandemic troubles, the company reduced its dividend earlier this year by one-third, citing the need to keep the payment sustainable. The current payment, last sent out in November, is 40 cents per share. At that rate, it annualizes to $1.60 and gives a yield of 10%. Barclays analyst Theresa Chen sees Nustar as a solid portfolio addition, writing, “We think NS offers unique offensive and defensive characteristics that position the stock well vs. midstream peers. NS benefits from a resilient refined products footprint, exposure to core acreage in the Permian basin, a foothold in the burgeoning renewable fuels value chain, as well as strategic Corpus Christi export assets… we think NS is a compelling investment idea over the next 12 months.” Chen sets a $20 price target on the stock, backing her Overweight (i.e. Buy) rating and suggesting ~27% upside for the year. (To watch Chen’s track record, click here) Interestingly, in contrast to Chen's bullish stance, the Street is lukewarm at present regarding the midstream company's prospects. Based on 6 analysts tracked by TipRanks in the last 3 months, 2 rate NS a Buy, 3 suggest Hold, and one recommends Sell. The 12-month average price target stands at $16.40, marking ~5% upside from current levels. (See NS stock analysis on TipRanks) To find good ideas for dividend 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.
Shares of AMC Entertainment (AMC) soared more than 30% during Tuesday’s session after announcing a secured debt deal to give the struggling theater company a liquidity boost.
Investors who owned stocks since 2016 generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return in the past five years is 120.4%. But there's no question some big-name stocks performed better than others along the way.Bank of America's Big Run: One market leader of the past five years was Bank of America Corp (NYSE: BAC).Big banks were crushed during the worst of the financial crisis in 2008 and 2009. Among the banks that survived the crisis, Bank of America was one of the hardest-hit. In fact, Bank of America shares dropped as low as $2.53 in early 2009 as investors questioned whether the company could avoid bankruptcy or total nationalization.By the beginning of 2016, Bank of America shares had worked their way all the way back up to around $16.45. Within months, the stock hit its low point of the past five years, dropping down to $10.99 following a bout of early-2016 volatility related to concerns over an economic slowdown in China.Bank of America then went on a tear for the remainder of 2016, more than doubling off its lows to around $23 by the end of the year. The stock made it to $33.05 by early 2018 before stalling out for roughly a year and a half.Related Link: Here's How Much Investing ,000 In JPMorgan Stock 5 Years Ago Would Be Worth TodayBank of America In 2021, Beyond: Bank of America shares broke out to the upside again in the closing months of 2019, surging to new highs of $35.72 before the COVID-19 sell-off pushed the stock back down to $17.95 in early 2020.Since then, Bank of America shares have regained nearly all of their lost ground and are currently trading at around $33.Bank of America investors who held on through a volatile few years were rewarded for their patience, and $1,000 worth of Bank of America stock bought in 2016 would be worth about $2,518 today, assuming reinvested dividends.Looking ahead, analysts expect Bank of America to take a breather in the next 12 months. The average price target among the 24 analysts covering the stock is $33.50, suggesting only 1.5% upside from current levels.Photo credit: Mike Mozart, FlickrSee more from Benzinga * Click here for options trades from Benzinga * Here's How Americans Are Spending Their Stimulus Payments * 5 Key Questions About The Federal Reserve's Approach In 2021(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Former Fed Chair Janet Yellen told Congress Tuesday that if confirmed as the next Treasury Secretary, she would prioritize a “big” fiscal package to bridge the U.S. economy to a post-pandemic world.
With Democrats holding a majority in the House and Senate, one expert believes the Biden administration to take bold action on the nearly $1.7 trillion in student loan debt held by roughly 43 million Americans.
(Bloomberg) -- Fuelcell Energy Inc., a clean-energy developer that hasn’t reported an annual profit in 20 years, is hardly a household name. But thanks to the mania for green stocks, the company’s market value has soared 800% in recent months to reach $5.6 billion.It’s not alone. Since November, a wave of once-obscure clean-energy companies have seen their valuations skyrocket into the billions -- despite generating little or no net income. Some of them are riding Tesla Inc.’s coattails after the industry giant’s own market capitalization reached a record $834 billion this month, topping that of Facebook Inc. Others have struck potentially lucrative partnerships or are simply surging on Wall Street’s confidence in a green transition under President-Elect Joe Biden.“A relatively small portion of these gains have come from actual increases in earnings or cash flow,” said Pavel Molchanov, an energy analyst at Raymond James. “It’s really coming more from lofty expectations of growth in the future, and in some cases the distant future.”Here’s a look at some of the companies whose stocks have rallied the most in recent months.FuelCellFuelCell Energy Inc., founded in 1969, was a pioneer in commercializing devices that generate electricity through an electro-chemical process. But it hasn’t recorded an annual profit since 1997 and was nearly insolvent 19 months ago. The shares began rising sharply in mid-November as interest in hydrogen and fuel cells in general was surging. The company’s value has increased seven-fold since and now exceeds $5 billion even as its third-quarter revenue fell 18% from a year earlier. FuelCell didn’t respond to a request for comment.BlinkBlink, which sells and operates electric car charging stations, has never booked an annual profit and posted revenue of $905,000 for the three months ended in September 2020. The company’s shares began jumping in mid-November and have climbed nearly four-fold since, pushing its market value to $1.9 billion. Several short sellers have raised questions about the size of Blink’s charging network. Earlier this month, its chairman and chief executive officer, Michael D. Farkas, sold $22.1 million in shares, according to a filing with the U.S. Securities & Exchange Commission.“There have been and always will be naysayers,” Farkas said in a statement. “The stock has performed well as investors have gained increased confidence about the universal shift to electric vehicles that is beginning to occur.” The company previously called the short-seller reports “false and defamatory.”PlugPlug Power, Inc., founded in 1997, has spent decades struggling to turn a profit as it tries to carve out niche for hydrogen fuel cells that can produce electricity without greenhouse gas emissions. Now, as interest in hydrogen booms and Plug has announced a series of deals, its market cap has jumped from less than $1 billion in 2019 to more than $30 billion today. The stock began climbing in June, when Plug jumped into the business of producing and distributing hydrogen -- in addition to building fuel cells -- through two acquisitions. The shares took off in earnest earlier this month, after Plug announced a $1.5 billion investment from South Korea’s SK Group to promote the technology across Asia.“The increase in stock value is a strong indication of the global transition to a clean economy and hydrogen,” said Plug Chief Executive Andy Marsh.QuantumScapeElectric-car battery developer QuantumScape Corp. saw its stock more than triple after it merged in late November with a blank-check company. That pushed its market valuation to a high of nearly $50 billion last month, even though the company isn’t expected to begin production of its solid-state lithium-metal batteries until the second half of 2024. Since then, the shares have dipped, falling more than 60% from the record high. The company is backed by Volkswagen AG, as well as Bill Gates and Khosla Ventures. QuantumScape didn’t respond to a request for comment.EosEos Energy Enterprises Inc., founded in 2008, makes grid-scale batteries based on zinc, challenging the lithium-ion chemistry that now dominates the battery market. It went public via a special purpose acquisition company in November, and its valuation has skyrocketed from about $240 million to a high of $1.5 billion, though it has yet to turn a profit. The shares tumbled last week after a report from short-seller Iceberg Research questioned some of Eos’s customers and their ability to pay.The company declined to comment on the report. “Eos continues to execute on its long-term strategy to build a world class energy storage company,” it said in a statement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Tesla began delivering its made-in-China Model Y SUVs, while Volkswagen is set to start taking preorders for its electric crossover ID.4.
Small-cap stocks are on a tear. And it's not too early to wonder which ones have the mojo to reach large-cap S&P 500 size.
DraftKings is one of the top IPO stocks to watch, as gambling legalization gains steam. Here is what the fundamentals and technical analysis say about buying DKNG stock now.
Churchill Capital Corp IV , a special purpose acquisition corporation set up by former Citigroup Inc. banker Michael Klein, issued a statement on Tuesday in response to inquiries from shareholders and following what it called 'unusual trading' in its shares in recent sessions. The blank-check company, which was formed for the purpose of acquiring a business or businesses, said it is always reviewing a range of potential business combinations to find a best fit for its shareholders. "We do not generally comment on rumors and speculation and will not comment as to whether the company is or is not pursuing a specific business opportunity other than saying, as noted, we are always evaluating a number of potential business combinations," said the statement. Churchill shares have gained about 50% in the last three months, amid media reports that it is in talks for a merger with electric vehicle company Lucid Motors. Electric vehicles have become a major subject of speculation after Tesla Inc.'s more than 700% gains in the last 12 months.
Not all capital gains are treated equally. The tax rate can vary dramatically between short-term and long-term gains. Learn about both types in this tax guide.
Everything you need to know about Roth IRA contributions and distributions, from eligibility to income limits to deadlines.
Several automotive, utility and infrastructure companies are testing technology that promises to allow electric cars, buses and trucks to charge on the move.
Stock prices already reflect a wallop of government spending and central-bank aid that can’t get much larger from here, Bank of America warns. Other market watchers are downbeat as well.
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