Year: 2020

Warren Buffett doesn’t like gold… At least as an investment. “It doesn’t do anything but sit there and look at you,” the Oracle of Omaha has said. And while he’s been proven right that equity markets outperform gold long-term, those who have picked the right gold stocks to buy have seen outsized returns this year.
While the tech sector has been grabbing the lion’s share of the headlines, gold has outperformed every major asset class.

That may not be surprising considering the price of gold is floating around an all-time high. But the fact that many gold stocks have been outpacing the …read more […]

A Biden win in the 2020 election and the impending push for clean energy would boost silver prices, according to Bank of America. …read more […]

(Bloomberg) — A bail hearing by Zoom for the 17-year-old accused of hacking some of the world’s highest-profile Twitter accounts last month offered some surprises when a lawyer revealed that the teenager was already under investigation last year — and then the session was interrupted by participants showing porn.Graham Ivan Clark’s lawyers were in the middle of asking a Florida judge to lower their client’s bail — saying the $725,000 he’s required to post to get out of jail is disproportionate to the $117,000 he’s alleged to have reaped from the hack — when the raunchy images were broadcast into …read more […]

(Bloomberg) — A group of lenders steering J.C. Penney Co.’s bankruptcy process is asking potential buyers of the retail chain to increase their bids after a round of offers in July were seen as too low, according to people familiar with the matter.The lenders are pushing for offers closer to the approximately $2.2 billion of J.C. Penney’s debt they hold, the people said, asking not to be named because the deals are private. Earlier proposals from mall owners and retail firms added up to payments of about $1.8 billion. If those don’t improve, the lenders could acquire the company through …read more […]

As Apple inches closer to a $2 trillion market-cap valuation, BofA analysts just downgraded the stock to Neutral noting “risks should not be ignored.” …read more […]

Kramer Capital Research Chief Investment Officer Hilary Kramer joins Yahoo Finance’s Zack Guzman to weigh in on how the coronavirus is impacting the cannabis industry. …read more […]

CFRA Analyst Arun Sundaram joins Yahoo Finance’s Zack Guzman to break down Beyond Meat’s latest quarterly results, after U.S. retail sales surged 194.9% from a year ago. …read more […]

(Bloomberg) — New York Governor Andrew Cuomo ordered an investigation of the state’s electric utilities as more than 2 million homes and businesses remained without power along the U.S. East Coast in the wake of Tropical Storm Isaias.In New York, more than 500,000 customers were in the dark as of 12 p.m. local time, primarily in the city, Hudson Valley and on Long Island, according to utility websites. More than 800,000 lost power in New Jersey. And about 720,000 were down in Connecticut.Cuomo ordered an investigation into the actions of six utilities before and after the storm, which snapped trees …read more […]

(Bloomberg Opinion) — Not all deals are worth the risk. And yet, many management teams can’t resist the temptation to try building larger empires through big, pricey acquisitions — even ones that might lead them off track. This appears to be the case with the latest proposed merger between two leading digital-health providers.Early Wednesday, Teladoc Health Inc. said it was acquiring Livongo Health Inc. for about $18.5 billion. Livongo shareholders will get 0.592 share of Teladoc stock for each share they own plus $11.33 in cash, resulting in 42% ownership of the combined company. The transaction is expected to be …read more […]

The speed at which gold has broken above $2,000 an ounce has left some in the market fearing a correction, but many analysts predict more gains as the coronavirus crisis spurs investors to buy into bullion’s relative safety. Taking out the totemic $2,000 barrier means investors must change their reference points, said Frederic Panizzutti at Swiss precious metals dealers MKS. A hoarding spree has fuelled the rally, with investors adding 922 tonnes of gold worth $60 billion at current prices to their stockpiles in exchange-traded funds this year, according to the World Gold Council. …read more […]

Perhaps there is more behind the impressive run in gold prices than simply fears of a lingering U.S. recession. …read more […]

Yahoo Finance’s On the Move panel discusses Square’s Q2 earnings report. …read more […]

(Bloomberg) — Rackspace Technology Inc., the cloud-service provider backed by Apollo Global Management Inc., fell 20% at the opening bell in its trading debut after raising $704 million in a U.S. initial public offering priced at the bottom of the marketed range.That’s the worst showing on a U.S. exchange this year for an IPO raising $100 million or more, according to data compiled by Bloomberg.Rackspace shares opened Wednesday at $16.85 after the company sold 33.5 million for $21 each on Tuesday. They were down 19% to $17 at 1:07 p.m. in New York trading.The company has a market value of …read more […]

Refinance applications are down despite the potential to save hundreds of dollars a month. …read more […]

Investment firm Raymond James has released its July performance recap, summing up the fourth month of the economic recovery. The firm notes that the early weeks of this recovery cycle showed a V-shaped turnaround for the economy, which has since slowed, taking a “treading water” patter. Raymond James sees defensive stock plays in a strong position, as they have somewhat outperformed since the second week of June.Raymond James strategist Tavis McCourt sees the slowing pattern as predictable, and linked to the pace of Congressional action on recovery stimulus packages. McCourt writes, “With D.C. negotiating another package, it is likely that …read more […]