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KB Home Q3 beats, CEO forecasts a strong 2021

Tue, 09/22/2020 - 17:19

KB Home reported its third quarter earnings after hours on Tuesday, beating on both top and bottom lines. The company’s CEO provided a loose forecast, saying they ‘anticipate accelerating [its] profitable growth next year’ if the ‘market conditions remain favorable.’ Yahoo Finance’s Jared Blikre joins The Final Round to break down the company’s earnings report.


How Large Option Traders Are Playing Boeing As Order Backlog Shrinks Further

Tue, 09/22/2020 - 17:05

Boeing Co's (NYSE: BA) order backlog continues to shrink on a monthly basis.A flurry of large Boeing option trades have been mixed in nature this week as investors struggle to determine whether or not Boeing can right the ship in the coming months.The Boeing Trades: On Tuesday morning, Benzinga Pro subscribers received 16 option alerts related to unusually large trades of Boeing Airlines options. Here are a handful of the biggest: * At 10:31 a.m., a trader bought 600 Boeing call options with a $160 strike price expiring on Nov. 20 near the ask price at $13.621. The trade represented a $869,019 bullish bet. * At 11:35 a.m., a trader bought 2,000 Boeing call options with a $160 strike price expiring on Nov. 20 at the ask price of $12.651. The trade represented a more than $2.5 million bullish bet. * Less than a minute later, a trader bought 2,000 Boeing put options with a $160 strike price expiring on Nov. 20 at the ask price of $17.40. The trade represented a more than $3.4 million bearish bet. * At 12:46 p.m, a trader sold 621 Boeing put options with a $150 strike price expiring on Jan. 15, 2021 near the bid price at $16.554. The trade represented a more than $1 million bullish bet.Of the 16 total large Boeing option trades on Tuesday morning, eight were calls purchased at or near the ask or puts sold at or near the bid, trades typically seen as bullish. Seven trades represented calls sold at or near the bid or puts purchased at or near the ask, trades typically seen as bearish.One trade was executed near the midpoint of the bid-ask spread, a price typically considered neutral.Why It's Important: Even traders who stick exclusively to stocks often monitor option market activity closely for unusually large trades. Given the relative complexity of the options market, large options traders are typically considered to be more sophisticated than the average stock trader.Many of these large options traders are wealthy individuals or institutions who may have unique information or theses related to the underlying stock.Unfortunately, stock traders often use the options market to hedge against their larger stock positions, and there's no surefire way to determine if an options trade is a standalone position or a hedge. In this case, given the relatively large size of the largest Boeing trades, they could potentially represent an institutional hedge.Uncertainty Ahead: Boeing said it delivered 13 total planes in August. Adding those deliveries to its 20 cancellations and a downward accounting revision of 84 planes, Boeing's backlog dropped by 109 planes in August to just 4,387. Boeing's backlog is now down from 4,774 planes in May.Boeing shares are now down 52.3% year to date, but up 47% since the market bottomed on March 23.With the fate of the 737 MAX still up in the air for now, option traders don't seem to know what to make of Boeing's near-term outlook. But the two 2,000-contract trades that took place at 11:35 appear to be a classic option straddle.A straddle is a common option trading strategy in which a trader buys an equal number of calls and puts for the same stock and the same expiration date.In this case, the trader bought nearly $6 million in Boeing Nov. 20 puts and calls, 2,000 puts and 2,000 calls. During a straddle trade, the direction isn't important, but the trader is betting that the stock will move significantly in one direction or the other. BA Chart by TradingView new TradingView.widget( { "width": 680, "height": 423, "symbol": "NYSE:BA", "interval": "D", "timezone": "Etc/UTC", "theme": "light", "style": "1", "locale": "en", "toolbar_bg": "f1f3f6", "enable_publishing": false, "allow_symbol_change": true, "container_id": "tradingview_8ecc2" } ); Benzinga's Take: Boeing's stock has rallied significantly in large part due to relief that the company will remain solvent in the near term. However, additional upside for the stock from here may be limited if a second wave of infections continues to hurt the air travel industry and Boeing keeps losing more orders than it is gaining.Related Links:Boeing And FAA Share Blame For Deadly 737 Max Crashes: Congressional Report How To Read And Trade An Option AlertSee more from Benzinga * General Electric Analyst Targets .5B In Industrial FCF In 2021 * Survey Shows Engineering Students Want To Work For Elon Musk(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Battery day starts on a low note with Musk’s warnings

Tue, 09/22/2020 - 16:42

Tesla’s big day - Battery day - was set to start on a high note on Tuesday, but unexpected tweets from the CEO - Elon Musk - had many investors worried about production of new cars from the company. Yahoo Finance’s Rick Newman joins The Final Round panel to discuss what to expect from Battery Day.


Aurora Cannabis Announces Fiscal Fourth Quarter 2020 Results

Tue, 09/22/2020 - 16:32

* Continued Adjusted EBITDA Improvement Due to Strong Gross Margins and Reduced SG&A; * Debt Levels and CapEx Spend Down Substantially in Q4 2020 * Provides Guidance for Q1 2021NYSE | TSX: ACBEDMONTON, AB, Sept. 22, 2020 /CNW/ - Aurora Cannabis Inc.


Stitch Fix Q4 revenue beats, CEO says company has ‘successfully navigated’ coronavirus

Tue, 09/22/2020 - 16:26

Stitch Fix announced its fourth quarter earnings report after hours on Tuesday, with the company beating investor’s expectations on both top and bottom lines. The company’s CEO said that the retail company ‘successfully navigated the deadest impacts’ of the coronavirus, but released no guidance. Yahoo Finance’s Myles Udland breaks down the company’s earnings report.


Coronavirus update: US death toll tops 200K as Europe outlook darkens; FDA adds teeth to vaccine process

Tue, 09/22/2020 - 16:25

The U.S. marked a grim milestone in the coronavirus pandemic, with more than 200,000 deaths reported Tuesday, even as optimism continues to rise over a vaccine.


Nike swings back to a quarterly profit as digital sales surge 82%

Tue, 09/22/2020 - 16:17

Nike reported fiscal first-quarter results after market close on Tuesday.


Xeris Pharmaceuticals'(NASDAQ:XERS) Share Price Is Down 31% Over The Past Year.

Tue, 09/22/2020 - 15:52

Over the last month the Xeris Pharmaceuticals, Inc. (NASDAQ:XERS) has been much stronger than before, rebounding by...


Western Digital's (NASDAQ:WDC) Shareholders Are Down 58% On Their Shares

Tue, 09/22/2020 - 14:32

The truth is that if you invest for long enough, you're going to end up with some losing stocks. But the long term...


Could The Market Be Wrong About VMware, Inc. (NYSE:VMW) Given Its Attractive Financial Prospects?

Tue, 09/22/2020 - 13:54

VMware (NYSE:VMW) has had a rough three months with its share price down 8.2%. However, a closer look at its sound...


Our Take On The Returns On Capital At United Parcel Service (NYSE:UPS)

Tue, 09/22/2020 - 13:37

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? In a perfect world...


How Many Starwood Property Trust, Inc. (NYSE:STWD) Shares Did Insiders Buy, In The Last Year?

Tue, 09/22/2020 - 12:53

It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...


Exclusive: Wells Fargo CEO ruffles feathers with comments about diverse talent

Tue, 09/22/2020 - 12:45

"While it might sound like an excuse, the unfortunate reality is that there is a very limited pool of black talent to recruit from," Scharf said in the memo, seen by Reuters. Scharf spent more time listening than speaking during the previously unreported 90-minute call which he initiated.


Americans are hoarding trillions of dollars in cash before the presidential election: Morgan Stanley

Tue, 09/22/2020 - 12:40

Cash is king ahead of a highly uncertain presidential election in November, new findings out of Morgan Stanley suggest.


These restaurants have filed for bankruptcy and many more are at risk

Tue, 09/22/2020 - 12:22

Restaurant bankruptcies are starting to pile up.


Imagine Holding Sea (NYSE:SE) Shares While The Price Zoomed 382% Higher

Tue, 09/22/2020 - 12:09

Active investing isn't easy, but for those that do it, the aim is to find the best companies to buy, and to profit...


Why BofA Expects Norwegian, Royal Caribbean To Restart Cruises In Q4, Stage Near-Complete Rebound In 2021

Tue, 09/22/2020 - 11:40

Cruise companies Royal Caribbean Cruises (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) are inching toward a resumption of U.S. services after submitting a joint plan to the Centers for Disease Control, according to BofA Securities. The Cruise Line Analyst: Andrew Didora maintains an Underperform rating on Royal Caribbean with an unchanged $34 price target.The analyst also maintains a Neutral rating on Norwegian Cruise with an unchanged $16 price target.The Cruise Line Takeaways: Royal Caribbean and Norwegian's joint "Healthy Sail Panel" informed the CDC of its new safety standard strategy, marking the first step toward a resumption of U.S. cruises, Didora said in a Tuesday note. The document includes 74 health and safety measures that cover screening, onboard sanitation, destination planning and more, the analyst said.Each consumer will need to confirm a negative COVID-19 test reading that was taken within five days of the cruise's departure, he said. If approved, cruises could sail from the U.S. in an "extremely limited form at some point" in the fourth quarter, Didora said.The momentum should pick up in 2021, and both cruise operators should return to 85% of normal capacity levels by the end of 2021, the analyst said. Occupancy levels were left out of the Healthy Sail Panel's document beyond vague commentary on distancing guests from each other, he said, adding that the two cruise lines will need to submit company-specific safety plans to the CDC.As a reference, Norwegian Cruise's management has already said it can break even on a shop-level basis at 40% of normalized levels, while EBITDA break-even requires 60% of normal net revenues, according to BofA. NCLH, RCL Price Action: Shares of Royal Caribbean were trading higher by 0.99% at $61.31 at last check Tuesday, while shares of Norwegian were up 0.13% at $15.01. Related Links:Is Carnival's Stock A Buy After Resumption Of Cruises?Norwegian Announces Pricing Of Its 0M Public OfferingLatest Ratings for NCLH DateFirmActionFromTo Aug 2020Morgan StanleyMaintainsUnderweight Jul 2020SunTrust Robinson HumphreyDowngradesBuyHold Jul 2020MacquarieDowngradesOutperformNeutral View More Analyst Ratings for NCLH View the Latest Analyst RatingsSee more from Benzinga * Is Carnival's Stock A Buy After Resumption Of Cruises?(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


Have Insiders Been Buying Kohl's Corporation (NYSE:KSS) Shares?

Tue, 09/22/2020 - 10:40

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...


 
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