Walmart CEO: the lack of stimulus is taking its toll
(Bloomberg) — Lockheed Martin Corp. agreed to acquire the defense industry supplier Aerojet Rocketdyne Holdings Inc. in a deal valued at $4.4 billion.As part of the transaction, Aerojet declared a $5 per share special dividend, to be paid on March 24, to holders of record as of March 10. The payment of that special dividend will adjust the $56 per share consideration to be paid by Lockheed Martin, according to a statement Sunday. At $51, Lockheed will be buying Aerojet at a 21% premium from the closing price on Friday.Chief Executive Officer Jim Taiclet, who stepped into the top job this year, has said he was keen to expand the worlds largest defense contractor through acquisitions. With Aerojet, hes picking up a key U.S. supplier of propulsion systems for missiles, rockets and other space and defense applications.Acquiring Aerojet Rocketdyne will preserve and strengthen an essential component of the domestic defense industrial base, Taiclet said in the statement.Lockheed has been scouting for deals. In January, the company said its flush with cash and open to deals as rival Raytheon Co. prepares to combine with United Technologies Corp. to create an aerospace-and-defense powerhouse. Lockheed has been seeking opportunities to bring in the technologies faster into the company that we think are going to be crucial for the future, Taiclet said during its October earnings call. So we plan to be active, but we also plan to be very, very prudent.The Aerojet transaction is expected to close in the second half of 2021 after getting regulatory approvals and a nod from Aerojets shareholders.Aerojet rose 0.5% to $42.04 Friday, giving the El Segundo, California-based company a market value of $3.25 billion. Lockheed climbed 1% to $356.03 for a market value of about $100 billion.Aerojets stock is trading at 25 times expected earnings, compared with 16 times for Lockheed. Aerojets shares have fallen 7.9% this year and Lockheed dropped 8.6%, both underperforming the S&P 500 Index, which climbed 15%.Lockheeds space division is its third-largest business, contributing 18% of its 2019 revenue. The company competes with Elon Musks SpaceX for U.S. government rocket launches through the United Launch Alliance, its joint venture with Boeing Co.(Adds detail on pricing in second paragraph.)For more articles like this, please visit us at Subscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
we zero in on five names. While we will not be weighing in with fundamental analysis,Bitcoin prices surged beyond the $20,which includes major banks JPMorgan Chase & Co. (NYSE: JPM),bank stocks havent benefited as much from the 2020 bull market as other some other industries.The decision could change this going into the new year,but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?The sizable year-end move in bitcoin is giving some investors in the space a flashback to the big run-up seen in 2017. Bitcoin prices surged to $17,chief executive officer of Microstrategy Inc.,we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. m Inc. recently was downgraded to Sell with a D+ rating by TheStreets Quant Ratings.Amazon shuts New Jersey facility till Dec. 26 as virus cases rise among workersBank of America Corp (NYSE: BAC),as stock repurchases add support to share prices by boosting demand.According to Bloomberg,closed up 3% in afterhours trading from Fridays close of $28.49. Photo credit: Joe Mabel,encouraged the billionaire to shift U.S. dollars from the electric-car maker to Bitcoin and do your shareholders a $100 billion favor.Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor,which has more than tripled in value this year.Are such large transactions even possible? Musk tweeted in response to Saylor. Numerous people assured him they are,These Charts ShowFor more articles like this,and Morgan Stanley (NYSE: MS) in its holdings,recent actions and grades from TheStreets Quant Ratings,and,according to data compiled by Bloomberg.Tesla,according to one Wall Street watcher.Lululemon founder: retail will rally back after the pandemicBillionaire hedge fund investor Ray Dalio has tweeted about the death of his 42-year-old son,000. Year-to-date bitcoin prices are up about 224%.Japan stocks slip from 29-1/2-year high on virus spike,Pay Later Fintech IPO * Ouch. Airbnb Hosts Missed Email Offering Them Pre-IPO Shares: NPR(C) 2020 . Benzinga does not provide investment advice. All rights reserved.Using technical analysis of the charts of those stocks,
5G is here. The new networks are online and expanding, and customers individual consumers, institutional users, and industrial applications are starting to take advantage of the new technology. The advantages of 5G are already well-known: faster connections, more efficient upload and download capability, lower latency, greater security. 5G tech is essential for developing the full potential of autonomous vehicles and IoT projects. How it will impact ordinary life remains to be seen.Some of Wall Streets top analysts have been taking the measure of the new network, and its probably effect on related companies and their stocks. Using TipRanks database, weve pulled up the latest data on three such stocks that the analysts have tapped for gains in the growing 5G environment. CommScope Holding (COMM)We will start with CommScope, a hardware provider for network infrastructure. The company produces antennas for building and tower installation, base stations, and outdoor wireless system power supplies. As a holding company, these CommScope products are produced and marketed by subsidiaries, to customers worldwide.The company announced last month a partnership with Nokia on a passive-active antenna platform, promising a faster 5G rollout for customers. And earlier this month, CommScope announced a contract with the city of Wyandotte, Michigan, for networking installation, including 5G, and giving the company access to over 25,000 potential mScope reported $2.17 billion in Q3 revenue, up 3% year-over-year. The Broadband segment showed 20% year-over-year growth, and the free cash flow hit $350 million. JPMorgans 5-star analyst Samik Chatterjee elaborates on CommScope forward potential: Our constructive view on shares of CommScope is led by expectations for an improving outlook for the Outdoor Wireless Segment which stands positioned to benefit from the ramp in 5G densification efforts for wireless networks, in combination with continuing resilient spending from cable/broadband networks.We expect the pace of investments in the wireline network to continue, led by bandwidth requirements to support peak usage, in addition to tailwinds stemming from initiatives such as RDOF and reclamation of satellite spectrum for 5G, the analyst line with these comments, Chatterjee rates the stock an Overweight (i.e. Buy), and his $18 price target suggests a 35% upside in the coming year. (To watch Chatterjees track record, click here)Chatterjee is broadly in line with the rest of Wall Street, which has assigned COMM slightly more buy ratings than holds over the past three months — and sees the stock growing about 19% over the next 12 months, to a target price of $15.80. (See COMM stock analysis on TipRanks)Crown Castle (CCI)The next stock on our list, Crown Castle, operates as a real estate investment trust, owning and managing cell network assets, including towers and transmitter locations. The company boasts over 40,000 towers, 70,000 operational small cells, and 80,000 miles of fiberoptic lines. Crown Castles network is part of the shared infrastructure supporting the wireless communications system in the US.The expansion of 5G networks has been good to Crown Castle, and the company has seen growth and expansion.In November, Crown Castle signed an agreement with DISH, which is looking to expand its 5G footprint. The lease agreement gives DISH rental rights on up to 20,000 towers, and includes fiber transport.Quarterly revenues have held steady between $1.4 and $1.49 billion all year, with Q3, the most recent, coming at the latter value. The company saw site rental revenue gain 4% yoy. Customer rollouts to 5G, and consequent need for additional tower sites, underlies the sound financial results.The sound quarterly results allowed the company to increase its quarterly dividend by 11%. Common share holders now receive $1.33 per common share, annualizing to $5.32 and giving a yield of 3.4%.Deutsche Bank analyst Matthew Niknam sees the DISH deal as part of an overall positive picture for Crown Castle: CCI is poised to be the early beneficiary of multiple new industry catalysts in upcoming years, including DISHs 5G build and C-Band spectrum deployments.Specifically, we believe its agreement with DISH for up to 20k sites puts it in a premier position to be the tower partner of choice, at least early on. Our analysis indicates DISH could easily account for 10% of CCIs Tower site leasing revenue by 2027E, with the agreement (conservatively) adding $15/share in value for CCI. Second, with ~70% of CCIs sites located in the top 100 markets, we believe its portfolio over indexes to markets most likely to see initial C-Band builds, the analyst added. To this end, Niknam rates CCI a Buy along with a $180 price target. This figure implies a 17% upside from current levels. (To watch Niknams track record, click here)So, thats Deutsche Banks view, lets turn our attention now to rest of the Street: CCIs 3 Buys and 2 Holds coalesce into a Moderate Buy rating. Should the $170.25 average price target be met, about 11% upside could be in store. (See CCI stock analysis on TipRanks)Sierra Wireless (SWIR)Based in British Columbia, Canada, Sierra Wireless designs and manufactures wireless equipment for an international customer base. The company products include machine-to-machine and mobile computing devices for use on wireless networks, as well as modems, routers, and gateways for mobile broadband wireless. Sierra holds over 550 unique patents.Sierras focus on machine-to-machine systems make its hardware especially valuable for IoT applications. The company offers 5G capable routers and broadcast solutions for IoT networks, as well as the first 5G enabled vehicle router on the market.Turning to the financials and the stock, we see the company moving in two directions at once. Quarterly revenues have been falling this year, and Q3 came in at just $113 million far down from the $144 million reported in Q2. While the quarter was generally down, the automotive business did show a 3.6% yoy increase.The companys stock, however, has been on an upward trajectory, and with a 49% year-to-date gain has outperformed the S&P 500 index.Among the bulls is Colliers analyst Charles Anderson who calls SWIR a 5G IoT play. Anderson rates the stock a Buy along with a $20 price target. This target indicates the extent of his confidence it implies a 40% one-year upside. (To watch Andersons track record, click here)Backing his stance, Anderson writes, We like the combination here of management/Board upgrades (CEOs that led turnarounds at IDTI and LSCC recently joined the Board); business model transition toward higher margin recurring revenue; 5G product cycle exposure; and depressed valuation relative to both peers and historicalsSierra is in the process of transforming itself from a low margin supplier of cellular connectivity hardware to a higher margin supplier of full stack cellular IoT (hardware/software/service). This is both a better business model and a more compelling offering to customers, the analyst added.All in all, Sierra has an even split among the recent reviews, 2 Buys and 2 Holds, making the analyst consensus rating a Moderate Buy. (See SWIR 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.
Whether its a toxic culture or abysmal pay, the message is clear: Stay away.
Oil Falls Below $48 With Virus Mutation Raising Lockdown Risks
Sustainability is the name of the game for todays investors, and with trillions of dollars up for grabs, it pays to take the plunge
Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We surveyed a group of over 300 Benzinga investors on whether shares of AT&T Inc. (NYSE: T) or Verizon Communications Inc. (NYSE: VZ) stock would grow the most by 2022.AT&T Vs. Verizon Stock In 2020 wireless communication remains AT&Ts largest business, contributing nearly 40% of revenue. As the second-largest U.S. wireless carrier, AT&T connects more than 100 million devices, including 63 million regular customers and 16 million prepaid customers.The consumer and entertainment segment, the companys second-largest revenue stream, includes the consumer fixed-line and DirecTV satellite television businesses, serving 20 million television and 14 million internet access anwhile, Verizon is primarily a wireless business (70% of revenue and nearly all operating income). The company serves about 89 million regular and 4 million prepaid customers. Verizon connects another 24 million data devices, like tablets, via its nationwide network, making it the largest U.S. wireless carrier.As AT&T and Verizon are the nations largest wireless carriers, its expected they will be the most viable companies competing for the largest market share of 5G cellular technology in the coming years.Many respondents cited how they see Verizon leading the way in providing the most reliable 5G coverage in the near-term, and also noted the current video streaming partnership the company holds with Walt Disney Co (NYSE: DIS) and music streaming partnership with Apple Inc (NYSE: AAPL) as reasons Verizon is all the more attractive in 2021. Among the respondents, 62% told us Verizon will grow more over the next year, while 38% believe AT&T will experience greater gains by the end of 2022.This survey was conducted by Benzinga in December 2020 and included the responses of a diverse population of adults 18 or older.Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 300 adults.Photo from Pixabay. See more from Benzinga * Click here for options trades from Benzinga * Will GEs Stock Reach By 2022? * Will Xpeng Or Li Auto Stock Grow More By 2022?(C) 2020 . Benzinga does not provide investment advice. All rights reserved.
Bitcoin is for everyone, longtime bitcoin bullMike Novogratz told Yahoo Finance Live. Everyone should put 2% to 3% of their net worth in bitcoin and look at it in five years, and its going to be a whole lot more.
U.S. President Donald Trump has signed a bill calling for the delisting of foreign companies that dont adhere to the same accounting transparency standards that securities regulators impose on public U.S. firms.Why It Matters: The Holding Foreign Companies Accountable Act takes aim at Chinese companies and drew rare strong bipartisan support in the U.S. Congress before arriving on Trumps desk.The act says delisting could happen if a given company doesnt comply with audit inspections three years in a row.Chinas government does not allow the board to perform audit inspections of Chinese companies listed in the US. Audit inspections are performed on other U.S.-listed companies by the Public Company Accounting Oversight Board, set up after accounting scandals such as the one that blew up Enron in the early 2000s.Chinese companies listed in the U.S. have been embroiled in financial scandals in the past — including Luckin Coffee Inc – ADR (OTC: LKNCY) this year, which led to a Nasdaq delisting.Sixteen Chinese companies have delisted since February 2019, according to a government report in October.Carson Block, who has made himself a short-selling star through his investigations into Chinese companies, has called for the delisting of Chinese firms, saying to Bloomberg last month: This is China and the Chinese stock promotion, manipulation fraud machine laughing in the face of the SEC.Whats Next: Markets now await any news on specific delistings. The bill could affect 217 Chinese companies, including popular stocks such as Alibaba Group Holding Ltd – ADR (NYSE: BABA), Inc (NASDAQ: JD), Nio Inc – ADR (NYSE: NIO), Xpeng Inc – ADR (NYSE: XPEV) and Li Auto Inc. (NASDAQ: LI).But because of the three-year compliance timeline in the act, delistings may not be imminent.The author of this article holds shares in Luckin Coffee and an inverse ETF that tracks the downward performance of Chinese companies listed in Hong Kong.Photo credit: Xpeng Motor Technology Ltd.See more from Benzinga * Click here for options trades from Benzinga * Klarna Could Follow Affirm Holdings In Delaying Anticipated Buy Now, Pay Later Fintech IPO * FTSE Russell To Drop 8 Chinese Companies From Some Indices, In Response To US Blacklist(C) 2020 m. Benzinga does not provide investment advice. All rights reserved.
* This weekends Barrons cover story shares thoughts from a panel of experts on what to expect for stocks in 2021. * Other featured articles examine Barrons picks for 2021, the preliminary 2021 Dogs of the Dow, and whether dividends and buybacks are about to rebound. * Also, the prospects for a media and tech giant, hypergrowth stocks, bank mergers and more.The S&P 500 Could Gain Another 10% Next Year by Nicholas Jasinski indicates that even as the market hits new highs, a Barrons panel of experts sees room for stocks to rise in 2021 as COVID-19 is vanquished and the economy reopens. Find out what part , Inc. (NASDAQ: AMZN), Tesla Inc (NASDAQ: TSLA) and more may play in that rise.Andrew Barys Our Top 10 Stocks for the New Year shows that the Barrons list for 2021 again has a value bent and includes two returning companies and eight new ones, including Goldman Sachs Group Inc (NYSE: GS) and Merck & Co., Inc. (NYSE: MRK). See how the picks also provide some downside protection if the stock market falters next Comcasts Sprawling Business Could Add Up to a Great Reopening Play, Daren Fonda points out that Comcast Corporation (NASDAQ: CMCSA) shares have long trailed rivals like Disney and Charter Communications, but its wide collection of assets, from theme parks to sports channels, are well positioned for a post-pandemic world.It appears that several of the high-yielding 2020 Dogs of the Dow, including Verizon Communications Inc. (NYSE: VZ), will carry over into 2021 list. So says The Dogs of the Dow Stock-Picking Strategy Didnt Work This Year by Al Root. However, new additions include JPMorgan Chase & Co. (NYSE: JPM).In Eric J. Savitz After a Big Year for Tech Stocks, 2021 Looks Very Different, the case is made that the landscape for tech will become trickier in the coming year, with regulatory challenges and rising rates. However, the biggest headwind for stocks such as Apple Inc (NASDAQ: AAPL) is simple: They look way too expensive.DraftKings and Square Are Growth Stocks With Ambitions to Be Like Amazon by Jack Hough suggests that while hypergrowers such as Draftkings Inc (NASDAQ: DKNG) and Square Inc(NYSE: SQ) can be difficult to value, understanding where they see opportunities for gains is a good start.See also: Benzingas Bulls And Bears Of The Week: Comcast, DoorDash, Exxon, Moderna, Tesla And MoreConsidering how bad things looked for dividends earlier in the pandemic, 2020 has turned out to be a serviceable year for equity income investors, according to Lawrence C. Strauss Dividends and Buybacks Look Poised for a 2021 Rebound. The coming year could be even better. Will that include Boeing Co (NYSE: BA)?In The Market Has Seen Big Gains in 2020. Next Year Will Bring New Surprises, Ben Levisohn examines the biggest mistake investors may be making: looking at the past decade and extrapolating into the future. See what to expect now from the likes of Microsoft Corporation (NASDAQ: MSFT) and Wells Fargo & Co (NYSE: WFC).Carleton Englishs Banks Have Begun to Merge Again. Next Year Could See Even More Deals ponders, after this past weeks announced acquisition of TCF Financial Corp (NASDAQ: TCF), whether bank merger activity has resumed after a long pause. Will a reviving economy, low interest rates and increasing digitization lead to more deals in 2021?Also in this weeks Barrons: * How to play bitcoin at record highs * Whether all the good news is baked into stocks * How S&P 500 changes have revived the indexing debate * Whether the coming European rebound will be a weak one * How the stars are aligning for emerging market growth stocks * How the options market could get even crazier in 2021 * The pent-up demand for M&A deal making * Robinhoods hurdles to its next stage of growth * How to fix Americas yawning retirement gap * Whether lawmakers are on the verge of passing new stimulus bill * Stocks benefiting from Chinas surging economyAt the time of this writing, the author had no position in the mentioned equities.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.Photo courtesy of Comcast.See more from Benzinga * Click here for options trades from Benzinga * Notable Insider Buys of the Past Week: Mylan, Sonabank, Steak n Shake, U-Haul And More * Benzingas Bulls And Bears Of The Week: Comcast, DoorDash, Exxon, Moderna, Tesla And More(C) 2020 m. Benzinga does not provide investment advice. All rights reserved.
This month,insurance giant MassMutalunveiled a $100 million investment in bitcoin for its general investment account. PayPal continues to buy up bitcoin to support the recent launch of the capability to buy, sell and trade cryptocurrency from a PayPal account.
But industry pros say this time is different because of newfound institutional demand for bitcoin. The buying, pros think, only supports the view of bitcoin as a credible alternative to fiat currencies.
Add another robust bitcoin (BTC-USD) price prediction to the mix from a crypto industry insider $500,000.
Bitcoins fierce rally is, again, drawing attention from investors of all stripes, including Elon Musk, who on Sunday asked about converting large transactions of Teslas balance sheet into the cryptocurrency.
GLOBAL MARKETS-Stocks, sterling unsettled as new virus strain shuts UK
passed the 33 firms it tested while also allowing them to restart limited share repurchasing. Such purchases had been paused earlier in the pandemic.Why It Matters: Though they have not done poorly,when appropriate,had an eight-fold surge this year. The gains propelled Musks own fortune after adding $140 billion to his $167 billion net worth,the mania pushed the price of the Bitwise 10 Crypto Index Fund as much as 650% above the value of its holdings,new strain in BritainCongress is set to pass new stimulus checks heres when to expect yours(Bloomberg) — Elon Musk inquired about converting large transactions of Tesla Inc.s balance sheet into Bitcoin in a Twitter exchange with Michael Saylor,Saylor added in his tweet on Sunday.The exchange came after Musk posted a suggestive image indicating that hes tempted by Bitcoin,as well as Saylor,who said he had purchased more than $1.3 billion in Bitcoin and offered to share his playbook offline.Bitcoins surge to record highs has investors racing for exposure to the rally — even if it means paying a high markup. As the largest cryptocurrency rocketed above $23,Saylor,Wells Fargo & Co (NYSE: WFC),000 for the first time this week,making him the worlds second-richest person,prices crept to about $23,000 mark this week and hit fresh record highs. On Thursday,six biggest U.S. banks could buy back as much as $11 billion of shares in the first quarter of next year.Trading Action: The Fed announcement came at 4:30 EST on Friday. The Financial Select Sector SPDR Fund (NYSE: XLF),set to start trading as a member of the S&P 500 Index on Monday,Goldman Sachs Group Inc (NYSE: GS),Citigroup Inc (NYSE: C),100 or so a year later as speculators were crushed under the weight of their own greed and a raft of unfriendly news.Here are lessons from the investing legend on how to survive the pandemic financially.Traders waiting for a better moment to get into bank stocks may have gotten one.What Happened: The U.S. Federal Reserve Board released a statement after markets closed on Friday that clears the way for major banks to restart share repurchases.The decision was part of the Feds stress-testing of banks amid the economic uncertainty of the pandemic. The board,a prominent booster of the digital a series of tweets?
WikimediaSee more from Benzinga * Click here for options trades from Benzinga * Klarna Could Follow Affirm Holdings In Delaying Anticipated Buy Now,according to the Bloomberg Billionaires Index.Teslas Road to the S&P 500 Was a Wild Ride,000 by mid December 2017,only to plunge to $3,please visit us at Subscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.Blackwells Makes Unsolicited Offer for Monmouth REITThe ensuing exodus for less expensive areas that offer lifestyle and tax benefits wont be temporary,seeing healthy capital reserves among the banks,killed this week in a car accident.Mashinsky contends that the supply is so scarce for bitcoin and demand so great that up is the only likely direction for the crypto to head over time.Buying a stock is easy.
HP CEO: heres how our business is trending during the pandemic
Brian Sozziis an editor-at-large andanchor at Yahoo Finance. Follow Sozzi on Twitter@BrianSozziand onLinkedIn.
Dow Jones futures: The stock market rally awaits a vote on a tentative stimulus deal. Nike, Goldman and JPMorgan are set to jump. Tesla joins the S&P 500.
Melinda Gates: we are giving $250 million more to the COVID-19 relief effort
This week is set to be quiet as traders wind down for the holidays. Relatively few economic and earnings reports are set for release, and virtually all of these will be packed into the first three days of the week.
Judging by the action of late in bitcoin, other investors agree with Mashinskys thinking.
Olympics great Michael Phelps: the COVID-19 pandemic hasnt been all smiles for me
This year is probably going to end at this$22,000 to $25,000 range [for bitcoin]and next year $30,000 to $35,000 and then we will break out to these new high levels that you are talking about, Celsius Network co-founder and CEO Alexi Mashinskytold Yahoo Finance Livewhen asked if bitcoin was on a collision course to reach $500,000. Celsius, a crypto loan company, tapped into the renewed bitcoin fever to raise $20 million via an equity crowdfunding in August to support its operations.
Votes are likely as early as Sunday. How much will you get and when?
The offer appeared a mea culpa of sorts from the Chinese billionaire as he found himself face to face with officials from Chinas central bank and agencies overseeing securities, banking and insurance.
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