The stock market has been soaring after tumbling for the first several weeks of the pandemic. Should you be worried that another crash is coming? …read more […]
The housing market entered the COVID-19 pandemic from a place of strength thanks to favorable supply/demand technicals and house-hunting millennials. …read more […]
Out on Wall Street, some stocks are shooting for the stars. Driven by optimism related to a COVID-19 vaccine, swift Federal Reserve action as well as better-than-expected economic data, the market has bounced back with sheer force since hitting a low point five months ago. Not only has the S&P 500 recovered its COVID-induced losses, but it has gone on to break a record, reaching a new closing high on August 21. So, is there more growth on tap for stocks? For some, the answer is yes. According to the analyst community, a few names reflect serious growth plays. …read more […]
Tesla Inc. is seeking approval to market a short-range interactive motion sensor device that would help prevent kids from being left in hot cars and improve theft-prevention systems.Tesla (TSLA) has filed a request with the Federal Communications Commission asking for permission to market the device, which would operate at a higher power level than allowed under current rules. The device, which would be integrated in passenger vehicle interiors, incorporates millimeter wave (mmWave) radar technology to detect movements within a vehicle and to classify vehicle occupants.The electric vehicle maker argues that for the full potential of this life-saving technology, the sensor …read more […]
After seeing some strength earlier on, biotech stocks came under pressure in the week ended Aug. 21. With the earnings season tapering and not much of noise on the coronavirus front, the sector reacted to some clinical readouts, two M&A announcements and a couple of adverse rulings handed down by the FDA.Three biotech issues IPOed this week, collecting a cumulative $404.1 in gross proceeds. This apart, Israeli medical imaging startup Nano-X Imaging Ltd (NASDAQ: NNOX) raised $165.2 million.Here’re the key catalysts for the unfolding week:ConferencesVirtual World Orphan Drug Congress USA 2020: Aug. 24-27 European Association for the …read more […]
Retail industry observers say Simon Property Group, the largest owner and manager of U.S. malls, is well suited to turn around trouble retailers. …read more […]
Gilead Sciences Inc. could be granted additional emergency use authorization by US regulators for its drug remdesivir to include patients hospitalized with moderate COVID-19, despite recent mixed trial results, the company’s top research executive told Reuters on Friday.Data published by Gilead (GILD) on Friday showed that a 5-day course of intravenous remdesivir modestly helped less severely ill COVID-19 patients, but a 10-day course did not show a benefit.Back in May, the US Food and Drug Administration (FDA) approved sales of remdesivir on an emergency basis for patients hospitalized with severe COVID-19, the disease caused by the new coronavirus, after trial …read more […]
Susquehanna lifted Keysight Technologies’ price target to $132 (37.7% upside potential) from $130 and reiterated a Buy rating on the stock as the electronic design and test solutions provider is poised to benefit from 5G deployments.Susquehanna analyst Mehdi Hosseini wrote in a note to investors on Aug. 21 that Keysight Technologies (KEYS) is likely to “benefit from continued 5G/400G roll out in APAC and US despite weaker EU.” Hosseini said that “We are increasing our FWD PE valuation multiple from 21x to 22x to account for the increased sustainability of the 5G and higher speed Networking investment cycle, all while …read more […]
I am a huge Elon Musk fan and believe Tesla will likely become the next Apple or Amazon. However, at its current valuation, a 50%+ collapse in the stock price seems inevitable. …read more […]
(Bloomberg) — In the 19th century California gold rush, the surest way to a fortune, according to Mark Twain, was to be in the “pick and shovel business.”If 2020 gold fever has an equivalent, it’s the ETF business.Exchange-traded funds backed by physical gold and silver accumulated more than $50 billion of bullion this year. ETFs now hold more gold than every central bank with the exception of the Federal Reserve.That’s generated windfall fees for ETFs and has been a boon for everyone involved in the business of servicing those enormous hordes of shiny metal. That includes the financial firms that …read more […]
Lowe’s ramped up its quarterly cash dividend by 9% after the home-improvement retailer last week reported stellar earnings for the second quarter, outpacing the consensus for sales and profit expectations.Lowe’s (LOW) announced that its Board of Directors declared a quarterly cash dividend of 60 cents per share, which takes the third quarter payout to about $455 million. The dividend, which presents a 9% hike over the previous quarterly payout, is payable on Nov. 4 to shareholders of record as of Oct. 21. The company has declared a cash dividend every quarter since going public in 1961.”Based on our confidence in …read more […]
(Bloomberg Opinion) — Don’t dismiss the leak of oil from the MV Wakashio that ran aground last month on a reef off the Indian Ocean island of Mauritius so quickly. The volume lost may seem tiny, but its location, mixed with other pressures already faced by the oil industry, means that it will have an impact far beyond its size.The empty bulk carrier was 11 days into a month-long voyage from Singapore to Brazil, where it was due to pick up a cargo, when it ran aground just a mile off the island’s southern tip on July 25. About three-quarters …read more […]
It’s a busy week ahead. Geopolitics, economic data, COVID-19, and the Jackson Hole symposium are all in focus in the week ahead. …read more […]
* This weekend’s Barron’s suggests ways to play the unusual back to school season. * Other featured articles look at some “special stocks” and at the one company responsible for the all-time high stock market. * Also, the prospects for a standout hotel stock, a cloud giant in need of a boost, a surprise electric vehicle play and more.’Back to School’ Is Not the Same. Here Are 4 Stocks to Play the Changes.” by Teresa Rivas and Avi Salzman examines the different strategies Nike Inc (NYSE: NKE), Walmart Inc (NYSE: WMT) and others are using to win over …read more […]
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