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U.S. consumer confidence rebounds in September - Yahoo Finance

U.S. consumer confidence rebounds in September - Yahoo Finance

U.S. consumer confidence rebounds in September - Yahoo Finance
Sep 29, 2020 12 mins, 7 secs

But tax losses are different from operating losses, and the new data don’t necessarily show his business empire is heading into crisis, even if it’s carrying sizable debts.“Your tax return at the end of the day shows income and whatever deductions are claimed against that income.

Collectively, the assets are valued at about $1.9 billion, and Trump’s share of the debt that encumbers them is about $670 million -- meaning they constitute almost half of his net worth.Financial records for his golf courses in Europe have long shown that, after including items such as depreciation, they run in the red.

“That’s a big part of the advantages of real estate investing.”The president’s son, Donald Trump Jr., disputed the Times’s reporting on Tuesday while acknowledging that Trump exploited depreciation, tax credits and other provisions of the tax code.“He’s paying tens of millions in taxes -- now, he’s not going to pay more” than he needs to, the president’s son said in an interview on Fox Business Network.

The Covid-19 pandemic also may take a lasting toll on the value of his holdings, making future loans more onerous.His biggest financial vulnerabilities remain his hotel in Washington, where the pandemic has slowed business, and Doral, a sprawling golf resort in Florida.

But so long as the pandemic doesn’t crater office values, the properties could carry far more debt, were Trump to need it.(Updates with comments from Trump’s son in 10th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

In 2017, the SEC had charged another employee of the e-commerce giant for leaking sensitive information to a college friend for financial gain.Price Action: Amazon shares closed 2.55% higher at $3,174.05 on Monday and gained almost 0.5% in the after-hours session.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Walmart Looks To Invest Up To B In Tata's India Retail App, As Other US Giants Rush To Rival: Report * Amazon Launches A Month Try And Buy Personal Shopping Service For Men(C) 2020 Benzinga.com.

The company has already pointed out what to look out for in a recent business update.

Wall Street followed by lowering estimates, too.While Raymond James analyst Chris Caso admits to being “late in cutting numbers,” the analyst has also now reduced November expectations to consensus levels “to reflect what’s now widely expected to be a tough price environment through year-end.”Caso, therefore, reduced his FY21 nonGAAP EPS estimate from $4.92 to $4.20 and lowered the revenue forecast from $24.762 billion to $23.642 billion.The 5-star analyst expects the tough economic conditions to continue, and in contrast to expectations of a 2021 rebound in spending, he does not see “a rational expectation why memory suppliers would substantially ramp spending given COVID-19/macro and Huawei uncertainty.”Where Micron is concerned, Caso argues should prices decline further, the share price could drop to $40 (currently at $51).

As a result, we believe the supply shortages that had been expected in 2H20 will likely materialize in 2021, which would drive numbers higher with a favorable risk/reward next year.”All in all, Caso sticks to a Strong Buy rating and $65 price target, which implies a healthy 31% upside from current levels.

Based on 17 Buys, 5 Holds and 1 Sell, the stock has a Moderate Buy consensus rating.

The analysts expect shares to climb by 24% over the next 12 months, given the $63.45 average price target.

Mining is big business, Here are a few things that you should know before adding mining stocks to your port....

President Donald Trump paid no federal income tax in 10 of the past 15 years due to massive business losses, and just $750 in federal taxes in 2016 and 2017, the New York Times reported on Sunday.

The paper said it had acquired more than two decades’ worth of tax-return data from Trump and his business organization, though it does not include his personal tax returns for 2018 and 2019.

authorities’ claims of market manipulation involving two of the bank’s trading desks, the largest sanction ever tied to the illegal practice known as spoofing.Over eight years, 15 traders at the biggest U.S.

The CFTC said its order will recognize and offset restitution and disgorgement payments made to the Department of Justice and Securities and Exchange Commission.Allegations of spoofing on the bank’s precious metals desk emerged more than a year ago, in charges against several traders on the desk.

But the settlement announced Tuesday also includes new allegations about spoofing by traders on the bank’s Treasuries desk.The deal faults the bank for nearly eight years of manipulating prices of Treasury contracts, as well as trading in notes and bonds in the secondary market, that caused $106 million in losses.

The government said five now-former JPMorgan traders executed thousands of deceptive trades.

None of those traders have been charged publicly.The accord also ends the criminal investigation of the bank that led to a half dozen employees being charged for allegedly rigging the price of gold and silver futures from 2008 to 2016.

Two have entered guilty pleas, and three traders and a former JPMorgan salesman are awaiting trial.

In all, according to the settlement deal, 10 JPMorgan traders caused losses of $206 million to other parties in the market.Read More: Inside the JPMorgan Trading Desk the U.S.

Called a Crime Ring“For nearly a decade, a significant number of JPMorgan traders and sales personnel openly disregarded U.S.

While submitting and canceling orders isn’t illegal, it is unlawful as part of a strategy intended to dupe other traders.Read More: Spoofing Is a Silly Name for Serious Market Rigging: QuickTakeMore than two dozen individuals and firms have been sanctioned by the Justice Department or the CFTC, including day traders operating out of their bedrooms, sophisticated high-frequency trading shops and big banks such as Bank of America Corp.

and Deutsche Bank AG.The Justice Department took a much more aggressive tack with JPMorgan by alleging that the bank hosted an eight-year market manipulation conspiracy with its precious metals desk as a criminal racketeering operation.While other suspected market cheats have been charged with specific spoofing and manipulation offenses, the Justice Department accused JPMorgan metals traders under the 1970 Racketeer Influenced and Corrupt Organizations Act -- a criminal law more commonly applied to Mafia cases than global bank probes.RICO allows for prosecutors to charge multiple criminal acts involving a group of people in the same case as long as they were part of the same enterprise.

The bank agreed to pay $550 million, but it and other global lenders in the accord felt little lasting hit from markets or customers, undercutting investor fears that a guilty plea would devastate their business.Shortly after Nowak and other traders were charged under RICO, JPMorgan learned it was the focus of a separate but related criminal investigation into trading of Treasury securities and futures, according to a person familiar with the matter.(Updates with estimated losses and other details from Justice Department settlement)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

The payout related to last year’s profit, the sale of several assets in Canada and its former metals-trading business, according to the company’s interim financial statement.

See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Nio Shares Volatile After EV Maker Announces Redemption Of 8.6% Nio China Stake(C) 2020 Benzinga.com.

He owns the stock and he thinks that it is currently at a price level where the risk-reward is a lot more favorable.Guy Adami thinks that Coca-Cola Co (NYSE: KO) could rally to $49.

He thinks that the stock has been reasonably constructive and its dividend is supportive.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * 'Fast Money' Traders Weigh In On Verizon And NetApp * 'Fast Money' Traders Give Their Opinion On AT&T(C) 2020 Benzinga.com.

Given the potential of the company's lead candidate and its $0.82 share price, Oppenheimer thinks that now is the time to pull the trigger.Sofpironium bromide (SB), a prescription treatment for axillary hyperhidrosis (AH, or excessive underarm sweating), is entering U.S.

We encourage risk-tolerant investors to build a position ahead of upcoming newsflow.”To this end, Gershell rates BBI an Outperform (i.e. Buy) along with a $5 price target.

As a result, BBI gets a Moderate Buy consensus rating.

The $5 average price target is identical to Gershell’s.

(See BBI stock analysis on TipRanks)Aldeyra Therapeutics (ALDX)As for Oppenheimer’s other pick, Aldeyra Therapeutics works to bring new treatment options for immune-related diseases to market.

As the dry eye therapeutic landscape increases its options, we expect greater segmentation of the heterogeneous patient population potentially beginning with reproxalap's positioning in ‘allergic dry eye’,” the analyst concluded.

To this end, he kept an Outperform rating and $15 price target on the stock.

So, the consensus rating is a Moderate Buy.

In addition, the $23.50 average price target suggests 227% upside potential from current levels.

Photo from Tesla Battery Day presentation.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Tesla Looking To Acquire Stake In LG Battery Business: Report * How Catherine Wood's Diverse Ark Investment Team Is Paying Huge Dividends(C) 2020 Benzinga.com.

Boasting the analyst community’s full support, both tickers have received a “Strong Buy” consensus rating.

Given the significant backlog of demand for commercial spaceflight, several members of the Street have high hopes for this space stock.Representing Cowen, analyst Oliver Chen sees SPCE as “uniquely positioned to benefit from the growing consumer interest toward luxury experiences, especially among high-net-worth individuals.” He added, “We believe a substantial growth opportunity lies ahead with the commercial spaceflight business, which already has ~600 reservations, and the development of high-speed point-to-point travel.”Looking at the market opportunity, Chen estimates that this part of the business could push SPCE’s top-line to $1 billion-plus by 2030, growing at a 60%-plus CAGR (2021-2030), with an EBITDA margin of 46%.

In addition, the analyst thinks the high-speed P2P opportunity could yield a TAM of $985 billion by 2050, and SPCE's market share could clock in at 20%.

What’s more, SPCE has “created competitive moats in a high-barrier-to-entry industry and benefits from strong consumer demand, which should support a premium pricing structure.”Based on all of the above, Chen puts an Outperform (i.e. Buy) rating and $22 price target on the stock?

With a $25.43 average price target, shares could rise 22% in the next year.

“As such, visibility into Aerojet’s business with NASA continues to look promising through 2030.

AJRD will see its upper stage engine content double on the new ULA Vulcan rocket under this contract, which utilizes a new Centaur upper stage (the Centaur V) powered by two RL10 engines, as opposed to one RL10 on the legacy Atlas V rocket,” Herbert explained.Everything that AJRD has going for it convinced Herbert to reiterate his Buy rating.

Along with the call, he maintained a $54 price target, suggesting 34% upside potential.

AJRD’s Strong Buy consensus rating breaks down into 3 Buys and no Holds or Sells.

Meanwhile, the $56 average price target brings the upside potential to 39%.

(NYSE: TMO) and Danaher Corporation (NYSE: DHR).Cramer likes Ping Identity Holding Corp (NYSE: PING).See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Mike Khouw Updates His Nike Options Trade * 'Fast Money' Picks For September 28(C) 2020 Benzinga.com.

Along with the stamp of approval, the firm believes that both of these tickers trading for less than $5 per share are primed for a massive rally.Digging a bit deeper, we used TipRanks’ database to find out what makes both so compelling despite the risk involved.Seelos Therapeutics (SEEL)Primarily focused on neurological and psychiatric disorders, Seelos Therapeutics works to bring cutting-edge therapies to market.

Currently going for $0.67 apiece, Roth Capital believes that its share price presents investors with an opportunity to get in on the action.Calling SEEL “substantially undervalued,” firm analyst Jonathan Aschoff points to two of the company's pivotal programs, SLS-002 (intranasal racemic ketamine), its treatment for acute suicidal ideation and behavior (ASIB) in patients with major depressive disorder (MDD), and SLS-005 (trehalose), its ALS treatment, as major upside drivers.SLS-002 is set to enter a proof-of-concept (POC) trial, with the FDA “eager for a useful anti-suicide drug.” Aschoff noted, “We firmly believe that, although it is formally called a POC trial, achievement of two endpoints, the primary endpoint of Montgomery-Åsberg depression rating scale (MADRS) and the key secondary endpoint of Sheehan-suicidality tracking scale clinically meaningful change measure (S-STS CMCM), will be enough to allow SEEL to file for approval of a ketamine importantly differentiated by its ability to reduce suicidal ideation.”Aschoff believes it’s likely that SEEL will have already kicked off the 120-patient randomized trial portion when it publishes data from 16 patients dosed with SLS-002.

To this end, Aschoff rates SEEL a Buy along with a $12 price target.

With the average price target clocking in at $8, the upside potential lands at 1,111%.

With several catalysts slated for the near-term, Roth Capital thinks its $2.50 share price reflects an attractive entry point.Analyst Jonathan Aschoff, who also covers SEEL for the firm, points out that during a recent meeting with management, the “overwhelmingly focus was on emetine, ACER-001 and Edsivo, and each of these programs are capable of providing at least one meaningful near-term investment catalyst.”Emetine, a potential COVID-19 treatment, is being developed as part of a collaboration with the National Center for Advancing Translational Sciences (NCATS), one of the National Institutes of Health (NIH).

“We essentially view Edsivo as a call option, with significant share price upside if the FDA allows ACER to amend and refile its NDA after only having to include existing natural history data...

To this end, he left a Buy rating and $10 price target on the stock.

At $10, the average price target matches Aschoff’s.

(See ACER 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.

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