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SpaceX filing reveals Starlink internet service has over 10,000 users

Richard Lawler
·Senior News Editor
·1 min read

Public beta testing for SpaceX’s satellite-beamed internet service kicked off late last year for people in the US, Canada and the UK, and an FCC application (PDF) tells us a bit about how things are going so far. CNBC points out the filing, which seeks designation for Starlink as an eligible telecommunications carrier, and notes that SpaceX reports over 10,000 people are already using the service.

Starlink is seeking designation so it can access the millions of dollars it’s been granted from the Rural Digital Opportunity Fund to provide service across a number of states. The letter also notes that SpaceX already has more than 1,000 satellites in orbit (it just launched a few more last night), and that its network is showing it can provide more than 100/20 megabits per second connections, as well as less than 31ms of latency for 95 percent of round-trip measurements.

Latest Stories

  • 2 “Strong Buy” Penny Stocks With Over 200% Upside on the Horizon

    Let’s talk about risk and the big picture. It’s an appropriate time, as the big risk – presented by the COVID-19 pandemic – is finally receding thanks to the ongoing vaccination program. COVID is leaving behind an economy that was forced into shutdown one year ago while in the midst of a great expansion, boosted by the deregulation policies. While the new Biden Administration is busy reversing many Trump policies, at least for now the economy is rebounding. And this brings us to risk. A time of economic growth and rebound is a forgiving time to move toward risk investments, as general economic growth tends to lift everything. Two strategists from JPMorgan have recently chimed in, promoting the view that the market’s fundamentals are still sound, and that small- to mid-cap sector is going to keep rising. First, on the general conditions, quant strategist Dubravko Lakos-Bujas wrote, “Although the recent technical selloff and short squeeze is receiving a lot of attention, we believe the positive macro setup, improving fundamentals and COVID-19 outlook, strength of the US consumer, as well as the reflation theme remain the bigger forces at play. Not only should this drive further equity upside, but it remains favorable for continued rotation into economic reopening…” Building on this, Eduardo Lecubarr, chief of the Small/Mid-Cap Strategy team, sees opportunity for investors now, especially in the smaller value stocks. “We stick to our view that 2021 will be a stockpicker’s paradise with big money-making opportunities if you are willing to go against the grain… Many macro indicators did fall in January but SMid-Caps and equities in general continued to edge higher,” Lecubarr noted. And if you are prone to look at high-risk, small- to mid-cap stocks, you’ll find yourself drawn to penny stocks. The risk involved with these plays scares off the faint hearted as very real problems like weak fundamentals or overwhelming headwinds could be masked by the low share prices. So, how should investors approach a potential penny stock investment? By taking a cue from the analyst community. These experts bring in-depth knowledge of the industries they cover and substantial experience to the table. Bearing this in mind, we used TipRanks’ database to find two compelling penny stocks, according to Wall Street analysts. Both tickers boast a Strong Buy consensus rating and could climb over 200% higher in the year ahead. CNS Pharmaceuticals (CNSP) We will start with CNS Pharmaceuticals, a biotechnology company with a focus on the treatment of glioblastomas, a class of aggressive tumors that attack the braid and spinal cord. These cancers, while rare, are almost always terminal, and CNS is working a new therapy designed to more effectively cross the blood-brain barrier to attack glioblastoma. Berubicin, CNS’s flagship drug candidate, is an anthracycline, a potent class of chemotherapy drugs derived from the Streptomyces bacteria strains, and used in the treatment of a wide variety of cancers. Berubicin is the first drug in this class to show promise against glioblastoma cancers. The drug candidate has completed its Phase 1 clinical trial, in which 44% of patients showed a clinical response. This number included one patient who showed a ‘Durable Complete Response,’ defined as a demonstrated lack of detectable cancer. Following the success of the Phase 1 study, CNS applied for, and received, FDA approval of its Investigational New Drug application. This gives the company the go-ahead to conduct a Phase 2 study on adult patients, an important next step in the development of the drug. CNS plans to start the mid-stage trial in 1Q21. Based on the potential of the company’s asset in glioblastoma, and with its share price at $2.22, several analysts believe that now is the time to buy. Among the bulls is Brookline’s 5-star analyst Kumaraguru Raja who takes a bullish stance on CNSP shares. “Until now, the inability of anthracyclines to cross the blood brain barrier prevented its use for treatment of brain cancers. Berubicin is the first anthracycline to cross the blood-brain barrier in adults and access brain tumors… Berubicin has promising clinical data in a Phase 1 trial in recurrent glioblastoma (rGBM) and has Orphan drug designation for treatment of malignant gliomas from the FDA. We model approval of Berubicin for treatment of recurrent glioblastoma in 2025 based on the Phase 2 data with 55% probability of success for approval. We model peak sales of $533 million in 2032,” Raja opined. “CNS pipeline also includes WP1244 (novel DNA binding agent) that is 500x more potent than daunorubicin in inhibiting tumor cell proliferation is expected to enter the clinic in 2021… In vivo testing in orthotopic models of brain cancer showed high uptake of WP1244 by brain and subsequent antitumor activity,” the analyst added. To this end, Raja rates CNSP a Buy, and his $10 price target implies room for a stunning 350% upside potential in the next 12 months. (To watch Raja’s track record, click here) What does the rest of the Street have to say? 3 Buys and 1 Hold add up to a Strong Buy consensus rating. Given the $8.33 average price target, shares could climb ~275% in the year ahead. (See CNSP stock analysis on TipRanks) aTyr Pharma (LIFE) The next stock we’re looking at, aTyr Pharma, has a focus on inflammatory disease. Its leading drug candidate, ATYR1923, is a Neuropilin-2 (NRP2) agonist, working through the receptor proteins expressed by the NRP2 gene. These pathways are important for cardiovascular development and disease, and play a role in the inflammatory lung disease pulmonary sarcoidosis. In December, the company reported that the drug candidate had completed enrollment of 36 patients in a Phase 1b/2a clinical trial, testing the drug in the treatment of pulmonary sarcoidosis. Results of the current study are expected in 3Q21, and will inform further trials of ATYR1923, including against other forms of inflammatory lung disease. On a more immediate note, in early January the company announced top-line results of another Phase 2 clinical involving ATRY1923 – this time in the treatment of patients hospitalized with severe respiratory complications from COVID-19. The results were positive, showing that a single dose of ATYR1923 (at 3 mg/kg) resulted in a 5.5-day median recovery time. Overall, of the patients dosed in this manner, 83% saw recovery in less than one week. Covering LIFE for Roth Capital, 5-star analyst Zegbeh Jallah noted, “We like the risk profile here, with two shots on goal, and updated data details from the COVID study is expected in the coming months. Also announced recently, is that data from aTyr's Pulmonary Sarcoidosis program, will be reported in 3Q21… the success of either of these studies could result in a doubling or more of the market cap as these opportunities appear to barely be accounted for by investors.” In line with his optimistic approach, Jallah gives LIFE shares a Buy rating and his $15 price target suggests an impressive 277% potential upside for the coming year. (To watch Jallah’s track record, click here) Other analysts are on the same page. With 2 additional Buy ratings, the word on the Street is that LIFE is a Strong Buy. On top of this, the average price target is $13.33, suggesting robust growth of ~236% from the current price of $3.97. (See LIFE 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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  • Dave Portnoy Stakes $700K On AMC Again After Exiting All 'Meme Stocks'

    Dave Portnoy said he purchased $700,000 worth of AMC Entertainment Holdings Inc (NYSE: AMC) shares Wednesday. What Happened: The Barstool Sports owner told Fox Business host Stuart Varney that he bought back into the theater chain after exiting positions in the Reddit hot stocks earlier on Tuesday. “I put in $700,000 into AMC this morning,” Portnoy told Varney, adding that he was “up” $60,000 on his investment. See also: How to Buy AMC Stock Portnoy also revealed that he had invested a “little bit” in shares of Nokia Oyj (NYSE: NOK) and Naked Brand Group Ltd (NASDAQ: NAKD). When he was asked as to when he would exit the stocks, Portnoy said, “That’s all feel... I think it could have another run.” Portnoy said his investment was not based on “fundamentals,” but rather it was akin to “watching the ball bounce... black, red or green in a roulette wheel.” Why It Matters: The celebrity blogger had earlier tweeted that he had sold all his meme stocks and blamed Robinhood for the loss. I have officially sold all my meme stocks. I lost 700k ish. Vlad and company stole it from me and should be in jail. pic.twitter.com/qXP1N1UFil — Dave Portnoy (@stoolpresidente) February 2, 2021 Robinhood CEO Vladimir Tenev was grilled by Tesla Inc (NASDAQ: TSLA) CEO Elon Musk on Monday after the brokerage imposed restrictions on the short squeeze frenzy stocks. Portnoy joined Benzinga’s “Power Hour” last week and expressed his displeasure at brokers. “People need to go to jail,” said Portnoy — adding, “Robinhood needs to know this is the end of their company.” Price Action: AMC shares closed almost 14.7% higher at $8.97 on Wednesday and fell 4.12% to $8.60 in the after-hours session. Related Link: WallStreetBets Gets Shoutouts From Cuban, Portnoy, Musk, AOC: Who's Saying What See more from BenzingaClick here for options trades from BenzingaA Hedge Fund Bet In Favor Of GameStop And Made Away With 0M In Reddit-Fueled RallyCan Bitcoin Be The Next GameStop? The Word On The Street© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • Keystone XL’s Collapse Leaves Canada’s Oil Heartland Seeking Payback

    (Bloomberg) -- The oil-rich Canadian province that was hit hard by Joe Biden’s move to kill the Keystone XL pipeline is considering seeking compensation from the U.S. through an old free-trade rule that’s still in place.Alberta, which spent C$1.5 billion ($1.2 billion) to help jump start construction of the project, may resort to a North American Free Trade Agreement provision allowing compensation claims for lost investments, Alberta Premier Jason Kenney said. While Nafta was replaced by the United States-Mexico-Canada Agreement during the Trump administration, the rule remains in place during a phase-out period.To “retroactively remove regulatory approval on the basis of which an investment was made is, in my view, a slam dunk case of a claim for damages through Nafta under the investor protection provisions,” Kenney said on a Facebook live Tuesday. “We believe we have a very strong case for damages, and we’ll be continuing to work with TC Energy on that.”The pipeline cancellation dealt another blow to an oil-dependent province that was already reeling from two crude-market crashes since 2014. TC Energy Corp.’s Keystone XL would ship more than 800,000 barrels a day of crude from Alberta’s oil sands to U.S. refineries.The project’s demise prompted TC Energy to let go of about 1,000 union workers on both sides of the border.Biden’s Keystone XL Cutoff Shocks Town Where Population DoubledAfter the U.S. president’s decision on his first day in office, Kenney said that Alberta would consider legal action and urged Canadian Prime Minister Justin Trudeau to impose trade sanctions if the Biden administration didn’t negotiate.In 2016, TC Energy sought $15 billion in compensation under Nafta after President Barack Obama rejected the project the previous year on environmental grounds, but the case was dropped after President Donald Trump approved the project early in his term.(Adds premier Kenney’s comments in third paragraph)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.

  • The S&P 500 is currently mirroring 2009-2010 to a 'creepy' degree: veteran hedge funder

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  • Sundial Growers Closes $74.5M Offering After Being Targeted By WallStreetBets

    Sundial Growers Inc. (NASDAQ: SNDL) closed a share offering valued at roughly $74.5 million this week. The Calgary, Canada-based company currently has some $610 million in cash, in addition to marketable securities and loans receivable of approximately $61 million, and approximately 1.56 billion common shares outstanding. Deal Breakdown Sundial unveiled a registered offering of 60.5 million Series A Units sold at a price of about $1 each. Some 14 million Series B Units were sold at a price of $1 each, minus $0.0001. The remaining exercise price of each Series B Warrant is equal to US$0.0001 per common share, according to a release. The exercise price of the company's Series A Warrants is equal to $1.10 per common share. A warrant gives the stock holder the right to buy a company's stock at a specific price and at a specific date. Sundial's Week Sundial shares closed nearly 48.5% higher on Monday, dipped Tuesday, but spiked 16% on Wednesday. By Thursday, the company's shares opened at $1.25 each. By 3:20 p.m. EST, they hovered $1.17 per share. The company was once dubbed a "unicorn" due to its valuation, which at one point hovered at $1 billion. These days, Sundial is among a list of so-called “meme stocks” in the crosshairs of Reddit investor group r/WallStreetBets investors, as compiled by Swaggy Stocks. The r/WallStreetBets group has over 8 million members and recently grabbed headlines for buying shares of companies such as GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC), which are similarly heavily shorted. See more from BenzingaClick here for options trades from BenzingaCbdMD To Donate Up To 0K From Sales To Portnoy's Barstool FundPetalfast CEO: THC-Infused Aperitif Is A No-Brainer© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • The 5G Revolution Could Send These 3 Stocks Higher

    We’ve got a full month of 2021 behind us now, and a few trends are coming clearer. The coronavirus crisis may still be with us, but as vaccination programs expand, the end is in sight. With President Trump out of the picture, and the Democrats holding both Houses of Congress and the White House, politics is looking more predictable. And both of those developments bode well for an economic recovery this year. Looking back, at the year that was, we can also see some trends that stayed firm despite the pandemic, the shutdowns, and the supercharged election season. One of the most important is the ongoing rollout of 5G networking technology. These new networks bring with them a fuller realization of the promises inherent in the digital world. Faster connections, lower latency, higher online capacity, clearer signals – all will strongly enhance the capabilities of the networked world. And it won’t just be mundane things like telecommuting or remote offices that will benefit – 5G will allow Internet of Things and autonomous vehicles to further develop their potential. There is even talk of medical applications, of remotely located doctors performing surgery via digitally controlled microsurgical tools. And these are just the possibilities that we can see from now. Who know what the future will really bring? To this end, we pulled up TipRanks’ database to learn more about three exciting plays in the 5G space. According to the Street, we are likely to see further interesting developments in the next few years as this technology takes over. Skyworks Solutions (SWKS) The first 5G name we’re looking at, Skyworks, is a semiconductor chip manufacturer that brought in $3.4 billion in total revenues for FY2020. Skyworks, which is a prime supplier of chips for Apple’s iPhone series, saw a massive 68% year-over-year increase in 1QFY21 revenues – the top line reached $1.51 billion, a company record, and also much higher than analysts had forecast. Much of Skyworks’ fiscal Q1 sales success came after Apple launched the 5G-capable iPhone 12 line. Strong sales in the popular handset device meant that profits trickled down the supply line – and Skyworks channels a disproportionate share of its business to Apple. In fact, Apple orders accounted for 70% of Skyworks’ revenue in the recent quarter. iPhone wasn’t the only 5G handset on the receiving end of Skyworks’ chips, however – the company is also an important supplier to Korea’s Samsung and China’s Xiaomi, and has seen demand rise as these companies also launch 5G-capable smartphones. Finally, Skyworks supplies semiconductor chip components to the wireless infrastructure sector, specifically to the ‘small cell’ transmission units which are important in the propagation network of wireless signals. As the wireless providers switch to 5G transmission, Skyworks has seen orders for its products increase. In his note on Skyworks for Benchmark, 5-star analyst Ruben Roy writes: “SWKS significantly beat consensus estimates and provided March quarter guidance that is also well ahead of consensus estimates as 5G related mobile revenue and broad-based segment revenue continued to accelerate… In addition to continued strength of design win momentum and customer activity, we are encouraged with SWKS confident tone relative to the overall demand environment and content increase opportunities.” In line with his comments, Roy rates SWKS a Buy along with a $215 price target. At current levels, this implies an upside of 20% for the coming year. (To watch Roy’s track record, click here) Roy is broadly in line with the rest of Wall Street, which has assigned SWKS 13 Buy ratings and 7 Holds over the past three month -- and sees the stock growing about 15% over the next 12 months, to a target price of $205.69.(See SWKS stock analysis on TipRanks) Qorvo, Inc. (QRVO) Qorvo’s chief products are chipsets used in the construction of radio frequency transmission systems that power wifi and broadband communication networks. The connection of this niche to 5G is clear – as network providers upgrade their RF hardware to 5G, they also upgrade the semiconductor chips that control the systems. This chip maker has a solid niche, but it is not resting on its laurels. Qorvo is actively developing a range of new products specifically for 5G systems and deployment. This 5G radio frequency product portfolio includes phase shifters, switches, and integrated modules, and contains both infrastructure and mobile products. Qorvo posted $3.24 billion in total revenues for fiscal 2020. That revenue represents a 4.8% year-over-year increase – and the company’s sales have been accelerating in fiscal 2021. The most recent quarterly report, for the second fiscal quarter, showed $1.06 billion in revenues, a 31% yoy increase. Rajvindra Gill, 5-star analyst with Needham, is bullish on Qorvo’s prospects, noting: “Qorvo reported strong sales and gross margins as 5G momentum rolls into CY21 on atypical seasonality... The company is planning for 500M 5G handsets to be manufactured in 2021, with an incremental $5-7 of content/unit from 4G to 5G. Management believes that ultra-wideband adoption will be a key growth driver in for smartphones going forward..." To this end, Gill puts a $220 price target on QRVO shares, suggesting room for 31% upside in 2021. Accordingly, he rates the stock a Buy. (To watch Gill’s track record, click here) What do other analysts have to say? 13 Buys and and 6 Holds add up to a Moderate Buy analyst consensus. Given the $192.28 average price target, shares could climb ~15% from current levels. (See QRVO stock analysis on TipRanks) Telefonakiebolaget LM Ericsson (ERIC) From chipsets, we’ll move on to handsets. Ericsson, the Swedish telecom giant has long been a leader in mobile tech, and is well known for its infrastructure and software that make possible IP networking, broadband, cable TV, and other telecom services. Ericsson is the largest European telecom company, and the largest 2G/3G/4G infrastructure provider outside of China. But that is all in the background. Ericsson is also a leader in the rollout of Europe’s growing 5G networks. Ericsson is involved in 5G rollout in 17 countries in Europe, the Americas, and Asia, and its product line includes infrastructure base units and handsets, giving the company an interest in all aspects of the new 5G networks. Ericsson’s revenue performance in 2020 was not notably distressed by the corona crisis. Yes, the top line dipped in Q1, but that was in line with the company’s historical pattern of rising revenue from Q1 through Q4. While the company’s 1H20 revenues showed small yoy declines, the 2H20 gains were higher. In Q3, the $6.48 billion top line was up 8.7% yoy, and Q4’s $8.08 billion revenue was up 17% from the prior year. The company’s shares have also performed well during the ‘corona year,’ and show a 12 month gain of 64%. Raymond James’ 5-star analyst Simon Leopold bluntly assigns Ericsson’s recent gains to its participation in 5G rollouts. “Japan's awaited 5G roll-out has started. Share gains continue as Ericsson benefits from challenges facing its biggest competitors and more operators embrace 5G… it seems obvious that Ericsson should be gaining market share... Competitor Nokia shunned the Chinese 5G projects, citing profitability challenges, yet Ericsson appears to be profiting in the challenging region.” Leopold rates this stock an Outperform (i.e. Buy), and his $15 price target implies an upside potential of ~14% for the year ahead. (To watch Leopold’s track record, click here) The Raymond James analyst, while bullish on ERIC, is actually less so than the Wall Street consensus. The stock has a Strong Buy consensus rating, based on a unanimous 5 reviews, and the $16.50 average price target indicates 25% growth potential from the share price of $13.19. (See ERIC 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.

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  • Lawmakers Call On Biden To Cancel $50,000 Of Student Debt Immediately

    This morning, Senate Majority Leader Chuck Schumer (D-NY), Sen. Elizabeth Warren (D-MA), Rep. Ayanna Pressley (D-MA), Rep. Alma Adams (D-NC), Rep. Ilhan Omar (D-MN), and Rep. Mondaire Jones (D-NY) held a press conference reintroducing a resolution that calls on President Biden to cancel up to $50,000 of federal student loan debt. “Canceling student loan debt is the single most effective executive action that President Biden can take to kick start this economy,” said Sen. Warren. The Higher Education Act of 1965 gives the president the authority to forgive student loan debt by issuing an executive order, and the Biden administration has signaled that they are open to the idea. “Canceling student loan debt is good for you whether you have student loan debt or not because it is good for our economy,” Warren continued. Roughly 45 million Americans currently carry about $1.7 trillion in student debt. The lawmakers emphasized that student debt cancellation wasn’t merely an economic stimulus, however, but a racial justice issue that would significantly close the racial wealth gap. “A disproportionate burden of student debt falls on people of color,” said Schumer. He called out predatory for-profit colleges that have been accused of targeting Black students in their marketing. Unsurprisingly, the loan default rate for for-profit college debt is higher than it is for public or private non-profit colleges. Rep. Pressley called the resolution a chance for Biden to “be bold and responsive to the movement that elected him.” “Let me be clear — the student debt crisis has always been a racial and economic justice issue,” she said. “But for too long, the narrative has excluded Black and Latinx communities and the ways in which this debt has exacerbated deeply entrenched racial and economic inequities in our nation. These disparities didn’t just magically occur. They are the consequences of generations of systemic racism, discrimination, and what I call policy violence that has systemically denied Black and Latinx families the opportunity to build wealth, forcing our families to take on greater rates of student debt for the chance at the same degree as our white counterparts.” “Take the 2008 financial crisis for example, when lawmakers bailed out Wall Street and abandoned Black and brown communities who lost everything,” she continued. “Many have yet to recover. So as we work to ensure an equitable recovery to the current crisis, we cannot afford to simply tinker around the edges.” Warren noted that, after 20 years of repayment, white students on average had just 5% of their student debt remaining. Black students, on the other hand, had around 95% still left unpaid. “Canceling student loan debt would help close the Black-white wealth gap by 28 points,” she continued, saying that the wealth gap between whites and Latinx people would narrow by a similar amount. Over 50 House members are currently cosponsoring this resolution, showing the growing momentum behind student debt cancellation. “This is the moment of reckoning, and the president must heed our calls,” said Pressley. Rep. Adams called the issue one of economic relief and financial freedom for Black and brown communities. “I’m a former college professor of 40 years,” she said. “And I know how young people struggle to pay this debt. President Biden now has the opportunity to build a stronger foundation of social and economic mobility for all, so we can live the true words of the late W.E.B. Du Bois, who said that of all of the civil rights, which the world has struggled and fought for 500 years, the right to learn is undoubtedly the most fundamental.” Rep. Omar spoke of the millions who can’t afford the essentials right now during the pandemic. “The last thing people should be worried about is student debt,” she said. “We know that student debt is not the result of bad decisions or behavior. It is the result of a broken system that tells the students to get an education or go to college in order to have a stable life, but then does not provide the resources to afford that education.” “I always say that America does not suffer from scarcity — we suffer from greed,” she said. Rep. Jones noted, crucially, that the enormous student debt burden Americans suffer from is “due in part to the fact that wages have remained stagnant for decades, even as the cost of a college education has skyrocketed.” In recent months, calls to raise the federal minimum wage to at least $15 per hour have gained momentum, and Biden has taken steps toward raising it to $15 per hour for federal employees. Currently, the federal minimum wage remains at $7.25 per hour, established back in 2009. Though lawmakers say they have spoken with Biden at length on the matter, there isn’t yet a firm timeline on when debt cancellation could happen — whether in a few weeks or a few months. Currently, federal student loan payments are paused and interest rates are at 0% until September 2021. “The American people are strongly behind us on this issue — overwhelmingly,” said Schumer. He expressed confidence that continued pressure from both constituents and politicians would result in an executive order to cancel student debt. The resolution would cost around $650 billion, according to Warren. Though it would cancel $50,000 of federal student debt for most people, it doesn’t apply to everyone, only those who make under $125,000 a year. Some believe that the measure should go even further, canceling all student debt regardless of income. In 2019, Omar introduced a bill calling for the full forgiveness of both federal and private student loans. Biden has previously floated the idea of canceling $10,000 of student debt as soon as he took office. That has not happened yet. Omar, who has student loan debt herself, mentioned that the problem doesn’t just affect young Americans. “The fastest-growing number of people who are currently carrying student debt are over 50 — and that is also hindering their ability to plan for retirement,” she said. Warren agreed, saying, “Social security checks are supposed to be the bare minimum that people have to live on in their retirement years. And there’s very little that you can garnish a social security check for, but right now there are over 100,000 Americans whose social security checks are garnished to pay student loan debt.” Student debt is also notoriously difficult to discharge even in bankruptcy, due to an exemption in personal bankruptcy law passed in the 1970s. “We are not going to let up until we accomplish it,” Schumer vowed. “The people deserve nothing less,” said Pressley. Like what you see? How about some more R29 goodness, right here?Why Are People Upset About Canceling Student Debt?Real People On Having Student Debt During COVID-19Biden Is Making Sweeping Changes To Minimum Wage

  • Why Plug Power Is Rising For Fourth Straight Session

    Plug Power Inc (NASDAQ: PLUG) shares have been on roll this week and are gaining for the fourth consecutive session. Plug Power Shares Northward Bound: Plug Power stock, which began to lose some momentum after it hit an all-time high of $75.49 on Jan. 26, has got its mojo back. After settling the week ended Jan. 29 down about 5.5% at $63.17, the stock started the running week on a firm note. The stock gained a little over 1% Monday and a more modest 0.6% Tuesday. The rally picked up steam Wednesday, with the hydrogen fuel cell energy company adding about 5% in the session. The stock is higher yet again Thursday. The Drivers Behind the Rally: In general, green energy stocks are in favor amid the thrust to move away from non-renewable, pollution-causing fossil fuels. The change of guard at White House, which is pro-green energy only added to the enthusiasm. Related Link: Why Plug Power's Lead In Fuel Cell, Hydrogen Space Could Create 'Outsized Winner' In company-specific news, Plug Power is planning to build a green hydrogen plant in New York's Genesee County, Buffalo News reported Wednesday. The plant will supply to freight transportation and materials handling equipment, the report said. Construction is set to start in March and is expected to be completed by December 2022. The report also said the Western New York Power Proceeds Allocation Board has recommended awarding $1.5 million to support Plug Power's project. Some of the buoyancy in the stock Wednesday may also have to do with Bernstein initiating coverage of Plug Power shares with an Outperform rating and $75 price target. Wall Street analysts, on average, have a Strong Buy rating on Plug Power shares. The average 12-month price target for the shares is $65.65, which incidentally suggests downside from current levels. PLUG Price Action: At last check, Plug Power shares were up 1.37% at $68.30. Related Link: Plug Power CEO Nets .4M In Planned Sale Of Hydrogen Fuel Cell Company's Stock See more from BenzingaClick here for options trades from BenzingaPlug Power Shares Pull Back: What Investors Need To KnowPlug Power Resumes Rally After Raising 2021 Gross Billings Guidance© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Vaxart Stock Takes a Hit, but Is It Warranted? Analyst Weighs In

    Over the past week, investors optimistically pushed Vaxart’s (VXRT) share price up by over 100%. High short-interest and anticipation of positive Phase 1 results from the study of the company’s oral Covid-19 vaccine candidate VXA-CoV-1, appears to be a particularly potent combination. However, speculation on the results of clinical trials is a risky business, and investors were left disappointed when Vaxart’s were made public on Wednesday. Since the news broke, shares crated by ~60%. So, what happened? While the vaccine was well-tolerated and caused multiple immune responses against SARS-CoV-2 antigens, it failed to produce neutralizing antibodies in the study’s participants. It is believed that a lack of neutralizing antibodies lowers the vaccine's potential to fend off COVID-19. While the market’s reaction was unequivocally negative, B. Riley analyst Mayank Mamtani looks on the bright side. “We remain intrigued with the unequivocally robust benefit noted on T cell responses, including relative to its in-class peers in the form of adenoviral vector-based C-19 vaccine candidates, particularly as it relates to the potential role in demonstrating long-lasting cross reactive immunity,” the 5-star analyst said. “In addition, we are also encouraged by safety profiles with no serious AEs noted to date and a very low event rate of solicited GI symptoms with a majority of events noted on high doses and generally reported as mild and transient.” Mamtani also says Merck’s recent discontinuation of its own oral VSV-platform based vaccine candidate was “likely safety-related.” This implies VXRT's data having “favorable readthrough to the broader platform as well as VXRT's dose optimization efforts.” Vaxart’s offering has several advantages. One being its tablet form, which could appeal to needle-shy people. It is also stable at room temperature, compared to the EUA approved vaccines’ cold storage requirements. To this end, Vaxart said it plans to advance its Covid-19 vaccine program into a Phase 2 study. All in all, Mamtani remains behind VXRT, and sticks to his Buy rating. The $16 price target remains, as well, suggesting upside of 78% from current levels. (To watch Mamtani’s track record, click here) Vaxart has only 2 other recent reviews, but both agree with Mamtani’s assessment. The 2 additional Buys add up to a Strong Buy consensus rating. The average price target is an optimistic one, and at $17.67, implies gains of 96% could be in the cards over the next 12 months. (See VXRT stock analysis on TipRanks) To find good ideas for healthcare 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.

  • 4 Qualcomm Analysts On 'Capacity-Constrained' Quarter, 2021 Outlook

    QUALCOMM, Inc. (NASDAQ: QCOM) shares pulled back Thursday in the wake of the company's first-quarter report. The Qualcomm Analysts: Rosenblatt Securities analyst Kevin Cassidy maintained a Buy rating on Qualcomm shares and upped the price target from $175 to $180. Morgan Stanley analyst Joseph Moore maintained an Overweight rating and lowered the price target from $171 to $167. Raymond James analyst Chris Caso reiterated a Strong Buy rating and $190 price target. KeyBanc Capital Markets analyst John Vinh maintained an Overweight rating and $180 price target. Why Qualcomm's 5G Upgrade Prospects Are Intact: Qualcomm delivered an in-line revenue quarter, with industrywide capacity constraints limiting upside to revenue, Rosenblatt analyst Cassidy said in a note. Earnings exceeded expectations due to a higher gross margin, which benefited from certain customers making early and unexpected deliveries of products, the analyst said. The guidance for a seasonal decline in March quarter revenue and a sharp sequential decline in margin at the Qualcomm Technology Licensing segment should disappoint investors, he said. "We see this as temporary and not a structural change to the company's profitability." The guidance for a 4% sequential decline in the Qualcomm CDMA Technologies segment revenue is well above the 15% seasonal decline, Cassidy said. The upside will stem from increasing content in 5G smartphones and strong demand for adjacent automotive and IoT products, the analyst said. Rosenblatt said it sees no structural change to Qualcomm's prospects in front of the 5G upgrade cycle. Related Link: Qualcomm Analysts Hail Huawei Settlement As Asserting Company's 5G Tech Leadership Morgan Stanley Sees Qualcomm Tailwinds: Qualcomm's Chipsets segment revenue guidance for the March quarter was stronger than expected, but the company signaled a drawdown in the June quarter, Morgan Stanley analyst Moore said. View more earnings on QCOM This, along with lower royalty revenues for the March and June quarters, makes the quarter a complicated one, the analyst said. Operating expenses were slightly higher, and mix-related gross margin pressure is evident in chipsets, he said. All of these factors will be negative for the June quarter, Moore said. Royalties will reflect weaker expectations from Huawei in the March quarter and beyond, the analyst said. Yet the Huawei shortfall has been a key driver of the chipset outperformance, as the market share that previously accrued to Huawei shifts to Qualcomm customers, he said. Morgan Stanley said it still sees the potential for Qualcomm's tailwinds to resume going forward. Raymond James Sticks To Qualcomm Thesis: Qualcomm delivered a mixed report in which supply constraints failed to deliver the upside the Street had hoped for, Raymond James analyst Caso said. Yet the March quarter was solidly ahead and better than seasonal, with auto/IoT continuing to beat expectations, the analyst said. Commentary on the June quarter, he said, implied that chipset revenue would decline by about 14% sequentially due to Apple Inc (NASDAQ: AAPL) seasonality. The China revenue opportunity — driven by replacing Huawei/HiSilicon — is now pushed to the second half of fiscal 2021 due to supply constraints, Caso said. "Net, the report probably isn't good enough for today given the stock's recent run, but it also doesn't change our thesis, and our FY22 numbers remain largely unchanged." Qualcomm's 2021 Looks Robust, KeyBanc Says: The company expects the supply constraints to impact first-half results and normalize in the second half, analyst Vinh said in a note. According to the company, the key drivers for 2021 are an anticipated high-single-digit annual increase in total global handset shipment, a doubling of 5G smartphones in 2021 to 500 million and anticipated share gains related to other OEMs gaining share at the expense of Huawei, the analyst said. QCOM Price Action: At last check, Qualcomm shares were retreating 8.83% to $147.97. Related Link: 'Halftime Report' Final Trades: Qualcomm, Blackstone And More Photo: Qualcomm. Latest Ratings for QCOM DateFirmActionFromTo Feb 2021Morgan StanleyMaintainsOverweight Feb 2021RosenblattMaintainsBuy Feb 2021CitigroupDowngradesBuyNeutral View More Analyst Ratings for QCOM View the Latest Analyst Ratings See more from BenzingaClick here for options trades from BenzingaWhy Plug Power Is Rising For Fourth Straight SessionNio's Smart EV Industrial Park Partnership With Hefei Government: What You Need To Know© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.