Cryptocurrency exchange Bitfinex has launched Perpetual Tether Contracts (USDT) that track two European stock indices
Perpetual contracts on Europe 50 (EUROPE50IXF0: USTF0) and Germany 30 (GERMANY30IXF0: USTF0) will go live on Monday at 09:00 UTC, the company said in a press release.
A perpetual contract is similar to a traditional futures contract, but has no expiration and mimics a margin-based spot market
The STOXX Europe 50 comprises 50 stocks from 18 European countries and provides top-notch representation of the region’s supersector leaders
Meanwhile, the German 30 or DAX 30 is a stock market index that represents 30 of the largest and most liquid German companies that trade on the Frankfurt Stock Exchange
« This is the first time that an exchange in the digital asset space has launched a product that bridges the gap with traditional stock markets, which represents a milestone in the evolution of crypto as a established asset class ”, said Paolo Ardoino, CTO at Bitfinex Derivatives
Using Tether – a so-called stablecoin designed to maintain a value of per token – will facilitate settlement in cross-asset trading strategies, hedging and risk management, Ardoino added
Perpetual contracts will be open for trading 24/7, unlike stock exchanges which are open for a limited number of hours, five days a week
As such, traditional market investors can look to Bitfinex perpetual trading on data-rich or event-rich weekends to find out prices ahead of Monday’s opening bell.
« During the weekend, we can reasonably expect lower volumes than on weekdays in the normal course of a business, unless significant economic developments occur over the weekend. end, such as a central bank policy change, etc. »email
The exchange will aim to ensure price stability by putting a cap of / -5% on the price of the final mark from 16:30 UTC to 8:00 UTC the following day
President Donald Trump has paid no federal income taxes in 10 of the past 15 years due to massive business losses, and only $ 750 in federal taxes in 2016 and 2017, the New reported on Sunday. York Times The newspaper said it had acquired more than two decades of tax return data from Trump and his business organization, though that does not include his personal tax returns for 2018 and 2019.
(Bloomberg) – Margarita Louis-Dreyfus has taken another big dividend from the eponymous agricultural commodity trading house she controls, as the billionaire continues to squeeze the company for money in the first six month of the year Louis Dreyfus Co paid a dividend of $ 302 million The payment was tied to last year’s profits, the sale of several assets in Canada and his former metals trading business, according to the interim financial statements of the company The dividend reduced the company’s equity to $ 4.48 billion at the end of June, from $ 4.79 billion six months earlier Louis-Dreyfus, who controls more than 96% of the holding company that owns LDC, said reaped big dividends in recent years to help pay off the roughly $ 1 billion she borrowed to buy out other family members Payments, often exceeding the trading house’s profits, have steadily reduced the value of the business The billionaire owner is in talks to sell a minority stake in the company and recently conducted negotiations with the Abu Dhabi sovereign wealth fund ADQ A successful transaction would give the trading house a much needed injection of cash In addition to its owner’s problems, the company has struggled in recent years, amid frequent changes of management and declining profits. Veteran Michael Gelchie will become CEO later this week – the seventh CEO appointed by Dreyfus in eight years – to replace Ian McIntosh Despite his recent woes, the first half of 2020 showed some improvement for LDCs Net profit climbed by 77 % to $ 126 million from a year earlier, despite significant losses from Luckin Coffee Inc collapse Net sales fell to $ 16.3 billion as prices and shipments fell year on year. released today puts LDC in a strong position to advance its ambitious growth plans, ”said Gelchie Net debt fell to $ 6-7 billion at the end of June, from $ 6.9 billion at the end of 2019, bringing its adjusted leverage ratio to 28 times Dreyfus is the D of the vaunted « ABCD » group that dominates the world of agricultural commodity trading The others are Archer-Daniels-Midland Co, Bunge Ltd and Cargill Inc For more articles like this her, please visit us at BloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP
Cleveland-Cliffs has agreed to buy ArcelorMittal USA from steel giant ArcelorMittal Here’s why the deal is a shock
Why do pension fund administrators keep doing this and falling in love with one of the oldest games in the business? The $ 4 New York’s Metropolitan Transportation Authority’s $ 8 billion pension fund just last to sue a hedge fund manager after losing hundreds of millions of dollars in complicated financial vehicles that no one else Could perhaps understand MTA is joining a list of ill-fated retirees suing German financial giant Allianz over its ‘Structured Alpha’ funds, which collapsed in market turmoil earlier this year, wiping out 97% – yes, really – investors’ capital
(Bloomberg) – In March, long before a short seller raised questions about electric truck company Nikola Corp and hastened the exit of its founder, the company’s early investors voiced their own concerns. led by mutual fund giant Fidelity Investments, feared that Trevor Milton, despite all his brash visionary speech and brash on Twitter, might not have the capacity that Elon Musk has to bring these types of innovative products to market They successfully lobbied for his removal as CEO ahead of the company’s IPO in June and for Milton’s father to step down from the board, people familiar with the matter say When the deal was struck, Milton only held the title of chairman, the post he stepped down this month Behind-the-scenes negotiations show Milton’s past was a concern for investors months before General Motors Co. executives bet on the company in a $ 2 billion post-IPO deal They liked Milton’s vision and ability to raise funds and felt the company was safe from its shortcomings in operations by pushing it upstairs, say people familiar with the matter Nonetheless, events since the Short Sellers Report, with Nikola’s stock plunging amid a constant stream of negative headlines, have revealed just how high the risks still are.It is now up to former GM vice chairman Steve Girsky, whose blank check firm VectoIQ floated Nikola on the stock exchange by reverse merger in June, and Nikola CEO Mark Russell, to stabilize the company and regain investor confidence The plan with GM was to use Nikola’s hot stock and Milton’s ability to raise funds to create a hydrogen-powered trucking business with GM technology. “There is obviously someone on the side of the diligence that won’t get a good bonus this year, « said Reilly Brennan, founder of venture capital fund Trucks Inc » The best thing you can do if you are a shareholder is that Milton is no longer running the company and you have Girsky in as president and CEO who provides the technology“The deal with GM was originally scheduled to close on September 30, and the automaker has said it plans to go through with it, but that timing can slip, say people familiar with the matter BP Plc is still engaged with Nikola in talks to partner on a network of hydrogen refueling stations for fuel cell trucks the company hopes to sell but is also slowing the pace of a deal, said the people, who asked not to be identified BP and GM declined to comment Nikola’s shares have fallen 478% to $ 18.55 as of 9:45 am Monday in New York and down 45% since its IPO GM rose 25% to $ 29 72 The story of Milton reads like a Greek tragedy Shortseller’s report Hindenburg Research accused Milton of surpassing Nikola’s technology and sparked investigations by Department of Justice and US Security and Trade Commission Cousin accused him of sexual assault decades ago, which he denies The company’s value peaked at $ 30 billion and is now worth around $ 7 billion Girsky and Mary Barra, CEO of GM, have both publicly said they have Demonstrates a Lot of Due Diligence People familiar with the matter say GM discovered while researching the deal that it had better batteries and better fuel cell technology, but joined forces because Niko had a working semi-trailer and access to financial markets Additionally, GM will be paid to build the Nikola’s Badger pickup on existing assembly lines Milton was so excited to shake up the Badger pickup program that he signed a deal that heavily favored GM, one of the peopleNikola’s shares and GM’s $ 2 billion stake are worth less than half of what they were on September 8, when the deal was announced Milton’s own stake is worth $ 1.7 billion, up from nearly 5 billion dollars at one point In a June interview with Bloomberg News, Milton said he grew up in a modest environment in Layton, Utah His family moved to Las Vegas when he was very young and he lost his mother to cancer shortly after returning to Utah in sixth grade. He wrote on Twitter that he didn’t finish high school, getting an equivalency certification instead, and then dropped out. His Twitter account has since been deleted He grew up in a tight-knit Mormon family, according to Aubrey Smith, his first cousin She took to social media recently and accused him of sexually assaulting her in 1999 when she was 15 and that he was 17 years oldIn a public account on Facebook and Twitter, and repeated in a phone interview, Smith said Milton had met her at their grandfather’s funeral He took off his shirt without permission, Smith wrote, then touched her inappropriately before someone knocked on the door and she ran awayMilton denied the allegations through a spokesperson Smith said Milton raised money from family members to start He founded and ran several businesses, including a home security business Milton claims having sold for $ 1.5 million Then, in 2009, he founded an e-commerce platform called Upillarcom, which says Milton « pioneered the online shopping cart » Clean Power Then he embarked on clean propulsion but found itself embroiled in litigation with dHybrid Inc, which he founded in 2009 The company upgraded diesel vehicles to natural gas turbines, claiming the dual system had greater efficiencyBut a deal with Swift Transportation Co in 2010, a court ended when Swift alleged that dHybrid defaulted on a $ 322,000 loan and modernized only half of the vehicles agreed to. The case was closed in 2015.Milton then attempted to sell Hybrid to a company called sPower in May 2012, but that also got bogged down in lawsuits after sPower pulled out and accused Milton of exaggerating his technological capabilities.Amid the litigation, Milton launched another company with a very similar name, dHybrid Systems, selling it in 2014 to Worthington Industries.In an interview with Bloomberg in June, Milton said dHybrid Inc was successful, but admitted that « we ended up shutting that one down due to litigation » His next startup was Nikola, founding it in 2014 in Salt Lake City before moving to Phoenix Emulating Musk, he took the name of the electricity pioneer Nikola Tesla, and the company was quickly billed as the Tesla of Trucks His plan was seen as likely to disrupt the entire transport industry by making trucks run on batteries or hydrogen cells. He also planned to build a network of hydrogen filling stationsFriends and familyMilton had friends and family who worked for Nikola despite having resumes that did not match the job His brother, Travis Milton, is director of hydrogen and infrastructure His LinkedIn profile shows that most of his experience was being « independent » in Maui Short seller, Hindenburg Research, said Travis Milton had set in stone as a contractor The father of Milton, Bill, was originally a member of the board of directors, but resigned when VectoIQ took the company public. The company’s stock prospectus stated that Nikola had granted more than 3 million stock options « to recognize the superior performance and contribution of some employees »The list included Travis Milton and an uncle, Lance Milton, » the document says, acknowledging that they are parents. As Milton made Nikola’s technology public, questions quickly arose regarding his claims regarding the fuel cell system of the company He boasted in a 2019 investor video that the company had created « what other manufacturers said was impossible to conceive » But while Nikola holds patents in fuel cell and battery technology, most of it of the planned material came from German supplier Robert Bosch GmbhNikola Demonstrations It became clear that Milton was ahead of himself A 2016 demonstration showed a truck that did not have a working hydrogen fuel cell system and was missing key parts, have declared by people familiar with the matter in June Milton said at the time that the parts were removed as a safety measure In July of this year, he recorded video of the semi-truck he ran into alongside the vehicle as it drove at low speed in a car park Aping Musk, the combative social media figure, Milton shot his detractors by saying, « those damn trolls, I wonder if they’re going to apologize to everyone for the lies they’re spreading the tens of thousands comments on how wrong we are ”Girsky said in the“ Autoline This Week ”webcast, in which Bloomberg participated, that he was in Nikola’s fuel cell trucks and they were working. agreement with GM will be concluded, GM will supply all technology for all world markets except Europe Nikola’s van, called Badger, will use GM’s Ultium battery, and the semi-finals will run on a fuel cell developed by GM and Honda Motor Co Since Milton’s departure, Nikola has presented himself more as an integrator of others. technologies in its Badger vans and semi-trailersFor GM’s part, the automaker is protected from any financial harm GM has got 11% of the stock with no cash investment and is being paid for its technology If Nikola fails GM won’t lose a dime Hamilton has remained silent and is out of business ‘business He unknowingly assumed his own downfall in the June interview with Bloomberg: « Part of becoming a better person in life is losing everything you have and not having anything. »(Updates with Monday exchanges in seventh paragraph) For more articles like this, please visit us at bloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP
On CNBC’s « Mad Money Lightning Round », Jim Cramer told a viewer that he was right to buy Boeing Co (NYSE: BA) He likes it because American Airlines Group Inc (NASDAQ : AAL) has received government money, airlines can test people before they get on a plane, and masks work on planesThis is not the year for General Electric Company (NYSE: GE), Cramer said He has a very good turnaround plan, but he’s not ready yet, he added This time around next year it will be a much better stock, but a lot of people aren’t as patient Cramer feels like he got his call with Rocket Companies Inc (NYSE: RKT) and he’s now ready to move on. something else He explained that there are a lot of people with short positions because they don’t like the ownership structure RedHill Biopharma Ltd (NASDAQ: RDHL) is a smart Israeli company, but Cramer would rather own Royalty Pharma plc ( (NASDAQ: RPRX) Cramer worries about Walgreens Boots Alliance Inc (NASDAQ: WBA) because his prescription drug side and store front is under attack He doesn’t know what could make him trade higher instead of Illumina, Inc (NASDAQ: ILMN), Cramer would rather buy Thermo Fisher Scientific Inc (NYSE: TMO) and Danaher Corporation (NYSE: DHR) Cramer likes Ping Identity Holding Corp (NYSE: PING) See more of Benzinga * Option trades for this crazy market : Get Benzinga options for sui vre High Conviction Business Ideas * Mike Khouw Updates His Nike Options Exchange * « Fast Money » Choice For September 28 (C) 2020 Benzingacom Benzinga Does Not Provide Investment Advice All Rights Reserved
If you really want to know what stocks experts – and those in the know – are buying, be careful what they are doing Stock reports, company reviews and press releases are useful, but you will get information important when looking at what insiders are doing Insiders – corporate officers and board members – should disclose when taking actions to avoid any unfair advantage Tracking their share purchases can be a useful strategy because if an insider is spending their own money on a stock, this could indicate they think big wins are in storeSo, investors who are looking for stocks that can fly ‘under the radar’ but have the potential to climb quickly, by monitoring insider buying, identify some interesting market games. To facilitate this research, the Hot Stocks tool from TipRanks Insiders kicks off the footwork – identifying stocks that saw informative moves on the part of insiders, highlighting several common strategies used by insiders, and collecting the data in one placeFresh from that database, here are the details of three stocks showing « informative buys » in recent days TravelCenters of America (TA) We’ll start with a company you probably don’t think about often, but which provides an essential service TravelCenters of America is the largest publicly traded owner, operator and franchisor of full-service rest areas in the United States. TA began to operate truck stops for rest, repair and maintenance, and has since expanded to full-service refueling stations offering both gasoline and diesel, fast food restaurants , convenience stores and other rest area amenities Their network of rest stops is part of the infrastructure that makes long-distance road transport, both private and commercial, in the USA possible. As one can imagine, social lockdowns and travel restrictions during the coronavirus pandemic did not occur. were not good for TA The good news is that the worst of the pandemic struck in the first quarter, and the first quarter is normally the slowest of the year for TA This year, the first quarter posted a net loss of $ 1,81 per share In the second quarter, when warmer weather normally leads to an increase in driving, pandemic restrictions were also – at least partially – lifted, and TA reported a sudden turnaround, with profit by 59 cents share Even so, it missed the forecast by almost a dime The outlook for the third quarter, normally the strongest of the year for TA, is for 73-cent EPS As regards insider trading, Adam Portnoy of the board of directors, has the most recent informative buys Earlier this month, it bought more than 323,000 shares, depositing more than $ 532 million for the stock Analyst James Sullivan of BTIG makes two observations on TravelCenters First , he points out: “The long-haul trucking industry has a share of approximately 71% of the total primary tonnage in the U.S freight industry, which makes it the primary mode of freight transportation ”Sullivan then adds that this opens up an opportunity for TA in the future:“ The growing demands of the country’s large trucking fleets for service providers Consolidated companies capable of providing fuel and truck services on a national basis appear likely to lead to further consolidation in the sector”Sullivan rates TA shares a buy, and his price target of $ 34 suggests the stock has an impressive 82% upside potential for the coming year (To watch Sullivan’s history, click here) Overall, TA shares are rated as a strong buy by analyst consensus, based on 5 recent reviews, including 4 buys and 1 put on hold. sell for $ 19 24 and $ 22 Average price target of 70 implies upward growth margin of 18% (See TA stock analysis on TipRanks) Highwoods Properties (HIW) The following stock is a Highwood Real Estate Investment Trust operates primarily in the Southeastern United States, but also in Pittsburgh, where it acquires, develops, leases and manages a portfolio of suburban offices and light industrial properties where most companies have reported significant growth. heavy losses during the corona crisis, HIW saw its 1H20 revenues remain stable EPS increased sequentially in the first quarter and remained stable in the second quarter at 93 cents Both quarters exceeded BPAM expectations despite strong financial results HIW shares still haven’t recovered from the midwinter market slump The stock is down 27% year-to-date Thanks to all of this, Highwoods has maintained its dividend, as it ‘is often the case with REITs The company has a 17-year history of dividend growth and reliability, and the current payout of 48 cents per common share is stable over the past 7 quarters At that level, it annualizes to $ 1,922 and yields a 58% return. Highwoods insider trading was committed by Carlos Evans, a board member, who bought 10,000 shares for $ 337,000 a day. last week His move was the first informative purchase on HIW in the past 6 months Truist analyst Michael Lewis is impressed with the quality of HIW’s portfolio He writes: “We continue to believe that HIW’s portfolio is one of the best positioned among traditional office REITs in light of the COVID-19 pandemic Rent collection has been excellent and there is no short-term lease expiration More broadly, the portfolio should benefit from a focus on the suburbs of Sunbelt, close to driving. ”Consistent with these comments, Lewis puts the stock at a buy value Its price target, $ 45, indicates a potential upside of 31% from current levels (To look at Lewis’ track record, click here) Overall, HIW has a cautiously optimistic consensus rating of moderate street buying This breaks down into 2 buy ratings and 1 hold We can also see on TipRanks that the analysts’ average price target is $ 43 which implies a hike in around 25% compared to the current share price (See HIW Market Analysis on TipRanks) VEREIT (VER) The last stock on our insider trading list is another REIT VEREIT is a major owner and manager of commercial real estate, foodservice and retail, with a portfolio of more than 3,800 properties with a collective value of $ 14.7 billion The company’s assets are made up of 45% retail and 20% restaurants; the rest is mostly office and light industrial sites Total leasable square footage is 889 million square feet So VEREIT is a REIT giant – but size hasn’t shielded it from this year’s general downturn. Stock performance has been poor and earnings have been gradually declining since the fourth quarter of last year Second quarter results showed $ 279 million on the high line, the lowest in a year – but the quarter also saw earnings pick up, reaching 17 cents a shareVER cut its dividend earlier this year, reducing the payout to 8 cents per share to keep it in line with earnings This dividend has been maintained and the next payout is scheduled for mid-October The current dividend yield is 45 %, well over double the average of S&P shares The big insider trading on VER comes from board member and CEO Glenn Rufrano He spent over $ 252,000 on a block of 40,000 shares, pushing the sentiment of Insider on this action in positive territory Covering JPMorgan stock, 5-star analyst Anthony Paolone sees significant strength in VER, noting that the company was successful in collecting rents during the crisis period “[His] collections showed a good improvement from July, with 85% collections in 2Q and 91% in July; taking into account all the allowances and deferrals, it appears that at this point around 94% of the pre-COVID contractual rental income has been processed, and it seems to us that a normalized execution rate for this vast majority of the portfolio should settle in early 2021; the company is making progress in dealing with the remaining 5-6% of non-collections, ”noted PaolonePaolone makes VER overweight (jee Buy), and its $ 8 price target implies a 22% hike for the next 12 months (To view Paolone’s track record, click here) Overall, VER drew some optimism mixed with caution about consensus opinion among selling analysts Out of 5 analysts surveyed in the past 3 months, 3 are bullish on the stock, while 2 remain on the sidelines With an upside potential of 11%, the consensual target price of the stock stands at $ 7.25 (See VEREIT’s stock market analysis on TipRanks) ideas for stocks traded at attractive valuations, visit the best stocks to buy from TipRanks, a newly launched tool that brings together all the information about TipRanks stocks Disclaimer: Opinions expressed in this article are those of analysts only Featured s Content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment
Palantir’s IPO to debut on the New York Stock Exchange thanks to the unusual approach of a direct listing That gives the data analytics firm a value of around $ 22 billion
Esperanza Ugalde’s daughter of Illinois filed in August what lawyers see as the first ‘take-out’ wrongful death lawsuit, alleging her mother died of COVID-19 her father had contracted in Aurora Packing Co’s meat processing plant The cases borrow material from “on the go” asbestos litigation and avoid capping liability for work-related accidents, exposing the business to costly pain and damage, even if the plaintiff did not. never set foot in its premises « Businesses should be very concerned about these cases, » said labor and employment lawyer Tom Gies of Crowell & Moring, who advocates for employers
The company said in a statement that its CEO, Edward Lampert, will step down, with day-to-day operations handled by three senior executives Where is Sears today? Bankruptcy judge approved sale of company assets for $ 5.2 billion to Lampert in bankruptcy auction
Inovio Pharmaceuticals said Monday morning that the FDA had forced it to delay the start of end-phase testing on its Covid-19 vaccine candidate until certain questions can be answered; INO crashed
President Donald Trump paid just $ 750 in federal taxes in 2016 and 2017, and no federal income taxes in 10 of the previous 15 years due to massive business losses, the New reported on Sunday. York Times The newspaper said it had acquired more than two decades of tax return data from Trump and his business organization, though that does not include his personal tax returns for 2018 and 2019.
Pension funds for truckers, teachers and subway workers have sued in the United States allianz Allianz, one of the world’s leading asset managers, for failing to protect their investments during coronavirus market collapse In March, Allianz was forced to shut down two private hedge funds after severe losses, sparking the wave of litigation which the company says is « legally and factually flawed » The fallout also prompted questions from the US Securities and Exchange Commission, Allianz said
For those who have recently taken full advantage of their online banking, here are the answers to your questions about mobile banking
During the first half of 2020, many companies reduced their dividend payments, cutting or suspending them to conserve cash flow against the downturn This trend appeared to be reversing – or at least starting to reverse – in August, when 13 companies announced dividend increases while only 2 announced cuts. Is this a signal that the third quarter will show a sense of rebound in dividend and buyback policies? The pressure of recession is easing; and dividends are a powerful attractor for cautious investors Looking at the current situation of Evercore ISI, market strategist Dennis DeBusschere believes the worst is over, saying: “[A] sharp drop in cash yields is unlikely [in 2h20] « He believes companies will continue, albeit slowly, to restore both dividend and buyback policies – but warns investors should not expect a return to pre-pandemic levels until at least 2022 » Well a recovery to pre-pandemic levels is not likely for at least two years, the negative impact on high-yielding product names and income strategies is expected to continue to stabilize until the end of the year « said DeBusschere Following DeBusschere’s lead, stock analysts at Evercore called high-yield dividend payers a likely prospect for investors looking to buy According to TipRanks data, these are stocks rated Buy, with a dividend yield of at least 7% and a 10% increase for the coming year Columbia Property Trust (CXP) The first stock on today’s dividend list is a real estate investment trust, Columbia Property Trust Columbia owns a portfolio of over 6 million square feet of office space in New York, San Francisco and Washington DC, with smaller investments in Boston, Mass New York and San Fran have been hit hard by the coronavirus, and lockdown policies implemented to stem its spread could have seriously hurt the business, but Columbia’s 97% lease occupancy rate and leases long term (average remaining time is 6 years) have provided a level of insulationThis translates into CXP’s performance in 1H20 The company’s revenue and revenue increase sequentially in the first and second quarters of the year Ending the half-time, the top line reached $ 79 4 million for the second quarter, and second quarter EPS stood at 40 cents, well above the forecast of 35 cents A key marker of the company’s fundamental strength, Columbia reported 972% collection success rents, despite the corona pandemic Good quarterly results are a welcome contrast to the performance of CXP stock fell sharply in the first quarter, during the market swoon in midwinter, and has yet to recover financial was the key, as the company’s dividend policy In August, the company declared the Q3 payment, sent on September 15, of 21 cents per common share It was the fourth consecutive quarter with c the dividend at that level, and the annualized payout of 84 cents per share yields a high yield of 78% CXP has a four-year history of gradual dividend increases Analyst Sheila McGrath, writing for Evercore, points to the pressures evident in CXP’s office space niche: « Sentiment towards the office sector with working from home has pressured ratings and increased betas for office namesIn analyzing the particular situation of the company, however, she also points out a clear strategy for continued success, saying: “CXP has a high occupancy rate and limited short-term renewals on the horizon. majority of turnover in 2020 is at rents significantly below the market Therefore, we expect CXP to work with existing tenants to maximize renewals and minimize inconvenience in the current uncertain environment »To that end, McGrath is giving CXP an outperformance (ie Buy), with a price target of $ 15 indicating a possibility of upward growth of 39% (To see McGrath’s track record, click here) Columbia Property Trust has Achieved a strong buy rating from analyst consensus, based on 3 buys and 1 wait over the past few months The stock price is $ 1077, and the average price target, at $ 15.50, is slightly higher what McGrath allows and suggests upside potential of 44% (See CXP market analysis on TipRanks) AllianceBernstein (AB) Next step is asset management action, AllianceBernstein AB provides both services of investment, both research and management, to retail investors and high net worth individuals worldwide The company has over $ 640 billion in assets under management AllianceBernstein saw 1H20 results that were the opposite of CXPs above The performance of the Company stock has rebounded significantly from the February market crash and is up 96% from its March low This positive result was not reflected in half-year financial reports Both quarters have seen sequential declines on the top and bottom lines, second quarter numbers standing at 61 cents EPS and $ 63.2 million in revenue Even with the 2020 drop, EPS was still up 9% d ‘year over year AB management has a habit of keeping the dividend reliable, not missing a payout and regularly adjusting the payout to keep it affordable They kept this policy during the corona crisis The current payout is 61 cents per common share, and while that is down from the 85 cents paid in February, it still pays 89% for investors John Dunn, who wrote AB’s review for Evercore, was impressed with the capacity é of the business to grow during the corona pandemic « A repeat of positive flows in the two retail channels & inst’l, setting up an impressive influx month: the month-end AUM of AB of $ 643 billion was higher than our end-of-quarter estimate / Street of $ 619 billion / $ 618 billion AB posted a 3% increase in its AUM m / m, thanks to tandem market gains with the organic growth we’ve now seen in 6 out of 8 months so far in 2020, ”noted Dunn Dunn gives AB shares a price target of $ 32, suggesting a one-year increase of 95% and supporting its outperformance (ie Buy) (To view Dunn’s history, click here) Overall, AllianceBernstein stocks, with 2 recent buy ratings, have a moderate buy rating from analyst consensus. stocks have an average price target set at $ 30.50, which implies an increase by 11% from the current price of $ 10.77 (See AB Stock Market Analysis on TipRanks) MGM Growth Properties (MGP) With the last stock on our list today we return to the REIT sector MGM Growth Properties is focusing on entertainment and leisure properties, with a portfolio of 13 destinations in 8 states, primarily casinos and luxury hotels, totaling more than 27,000 rooms for rent As one can imagine, the corona crisis has not been gentle on a luxury resort company; social distancing rules and trade restrictions put a damper on both casinos and hotels EPS for each quarter of 1H20 stood at just 56 cents – up from 58 cents in 4Q19 and 59 cents in 3Q19 More , 2020 results are well below expectations MGP took action in the second quarter to hedge against declining profits, with $ 800 million senior note issuance Despite shock to its niche market , MGP shares rebounded strongly after the stock market crash earlier in the year Stock is up 119% from its lowest point The mixed results of recent months and uncertain future during this « corona period » have not derailed MGP’s dividend policy The company has gradually increased the payment over the past 4 years and increased it again for the June payment this year The current dividend payout is 4,875 cents per common share, or $ 1.95 per year The yield is robust, at 7%, or nearly 35x the average of the stocks listed on S&PSteve Swaka of Evercore acknowledges the weaknesses of MGP’s position , but also points out that the company has a strong ally in sister company MGM: “As we have stated at other times recently, although before COVID, many investors viewed MGP’s relationship with MGM as one net detriment of the investment thesis, under the current circumstances it is hard to see where this has not turned out to be a net positive « Overall, Swaka assesses that MGP shares an outperformance (ie Buy) with a price target of $ 34 This figure indicates a margin for growth of 21% in the coming year (To see Swaka’s track record, click here) The analysts’ consensus rating on MGP shares is a strong buy, based on 5 purchase reviews and one set Hold emble in recent weeks Stock is $ 28 A price of 50 stocks and an average price target of $ 33 is up 155% over one year (See MGP stock market analysis on TipRanks) trading dividend stocks at attractive valuations, visit the best stocks to buy from TipRanks, a newly launched tool that brings together all the information about the TipRanks stocks 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
(Bloomberg) – Remington Outdoor Co, the 200-year-old gunmaker that again filed for bankruptcy in July, has been auctioned off in court Seven bidders will each buy parts of the company’s businesses The development ends a hunt for buyers to bring in funds to repay creditors Cerberus Capital Management had acquired Remington in 2007, and the gun and ammunition giant had accumulated nearly $ 1 billion in debt The company previously said it had $ 437 million in revenue last year, roughly half of the business in 2016 Here are details of the successful bidders and Remington companies they buy: Vista Outdoor Inc for its Lonoke ammunition business and certain Roundhill Group LLC IP assets for its non-Marlin Sierra firearms business Bullets LLC for its ammunition business of Barnes Sturm, Ruger, & Co for its firearms business Marlin JJE Capital Holdings LLC for the brands DPMS, H&R, Stormlake, AAC and ParkerFranklin Armory Holdings Inc for the Bushmaster brand and certain assets Sportsman’s Warehouse Inc For more articles like this, please visit us at BloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP
Netflix is set to keep making money if it were to raise prices soon, analyst predicts
Sorrento Therapeutics (SRNE) has taken a unique approach to tackling the coronavirus While most of the pharmaceutical companies committed to the good fight against COVID-19 have focused their energies on one area, Sorrento has taken a more dispersed approach Biotech is developing a COVID-19 vaccine, diagnostic test, antibody test, and has several drug candidates While it remains to be seen whether the varied method works, Dawson James analyst Jason Kolbert believes Sorrento might have a fan who, as they say, has some influence in high placesAt a presidential press conference, « the president mentioned among the promising therapies a 70% effective monoclonal antibody, » Kolbert said « We spoke with Sorrento afterwards and remain optimistic that the company’s mAB is very effective (> 70%) and is progressing towards approval » Whereas Trump has in the past suggested that the injection of Bleach could be an appropriate treatment for COVID-19, it is open to debate whether such approval equates to positive development Either way, Sorrento has made progress with its various programs The company is working on a cocktail of antibody that will be able to provide 100% protection against SARS-CoV-2 coronavirus infection, which will remain effective even if the muteKolbert virus believes that with USProject Warp Speed, the cocktail could speed up time to market Target made a step further towards achievement on September 17, when Sorrento got the go-ahead from the FDA to proceed with phase 1 testing of its COVID-19 neutralizing antibody, codenamed COVI-Guard (STI-1499). antibody has demonstrated res It shows promise in vitro because it was able to completely block the SARS-CoV-2 virus, making STI-1499 Sorrento the « prime candidate for potentially cost-effective passive protection against COVID-19 » Moreover, while competitor Eli Lilly is currently more advanced in the race for COVID-19 neutralizing antibodies, it recently reported positive intermediate results in a placebo-controlled study of a compound similar to STI-1499 Kolbert believes that “the Sorrento antibody could be more potent and made more easily on a larger scale « Overall, Kolbert maintains a buy rating on SRNE shares alongside a price target of $ 21, implying a 103% increase from current levels (To look at Kolbert’s track record, click here) Only one other analyst is currently watching developments at Sorrento closely, also recommending the stock to be bought Together, Sorrento has a moderate buy consensus rating supported by a $ 255 price target Investors are eyeing a big 1855% hike, if the target is met in the next 12 months (See SRNE stock analysis on TipRanks) To find great ideas for health stocks traded at attractive valuations, visit the best stocks to buy from TipRanks, a newly launched tool that brings together all information about TipRanks stocks Disclaimer: Opinions expressed in this article are solely those of featured analysts 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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