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Beyond Meat Q2 earnings meet expectations, CEO sees strong retail trends

Tue, 08/04/2020 - 16:05

Yahoo Finance catches up with Beyond Meat founder and CEO Ethan Brown to discuss second quarter earnings.

Tesla Model 3 Vastly Outsells Competitors In China For June

Tue, 08/04/2020 - 15:50

While operations in its Fremont factory were slowed down in the second quarter due to the COVID-19 pandemic, Tesla Inc's (NASDAQ: TSLA) Gigafactory Shanghai kept churning out Model 3s.Tesla fan site Tesmanian compiled data of Tesla's June Model 3 sales numbers and found that the company sold far more electric cars than any other company in Shenzhen, Beijing and Shanghai. This is despite the fact that year over year, electric vehicle sales are down 34.9%.Tesla sold 1,651, 1,808 and 2,790 Model 3s in each city, respectively, versus the next highest of 580, 373, and 332 vehicles of each leading competitor per each city.See Also: Nio's July Deliveries Up 322% Year-Over-Year, Down Month-Over-MonthTesmanian collected the data via the China Banking and Insurance Regulatory Commission (CBIRC) license plate report.Benzinga's Take: Tesla's domination of EV sales continues in China after the construction of the company's Gigafactory Shanghai. Tesla has been a popular brand in China, but now that they have a factory in the country, the company was able to lower prices and take advantage of local tax incentives.Photo courtesy of Tesla.See more from Benzinga * Tesla On-Screen Wiper Controls Ruled Illegal In Germany * Smaller Tesla Cybertruck For Europe Highly Likely, According to Elon Musk * Musk Says Tesla Could Build More Traditional Pickup Truck If Cybertruck Fails(C) 2020 Benzinga does not provide investment advice. All rights reserved.

Here's Why I Think Adobe (NASDAQ:ADBE) Is An Interesting Stock

Tue, 08/04/2020 - 15:35

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of...

3 “Strong Buy” Penny Stocks That Could Go Boom

Tue, 08/04/2020 - 15:31

The stock market has been holding up remarkably well, but why? Against the backdrop of weak second quarter earnings results, investors are piling in on the hope that a COVID-19 vaccine is coming, there will be additional stimulus and corporate profits will bounce back.Morgan Stanley’s chief U.S. equity strategist Mike Wilson believes the U.S. is experiencing a V-shaped recovery, noting that the current state of the market resembles other recessionary periods right before economic expansion took place. He argues that given the possibility of a “tremendous” rise in operating leverage post-pandemic, the increased efficiency will translate to higher profits.Taking this outlook into consideration, we set out to find exciting opportunities that won’t break the bank, namely penny stocks. As these tickers trading for less than $5 per share carry risk, due diligence is essential. Using TipRanks’ database, we locked in on three that have garnered glowing reviews from the Street, enough to earn a “Strong Buy” consensus rating. Not to mention each offers massive upside potential.Aileron Therapeutics (ALRN)Focused on improving chemotherapy, Aileron Therapeutics wants to help cancer patients fight the disease without the fear or burden of chemotherapy-induced side effects. Based on its recent encouraging data readout and $0.90 share price, this healthcare name has landed right under Wall Street’s microscope.On June 1, ALRN announced positive interim results from the ongoing ALRN-6924 myelopreservation trial in patients with small-cell lung cancer (SCLC) being treated with topotecan. The data showed that the candidate was able to alleviate multiple adverse side effects associated with chemotherapy, including anemia, thrombocytopenia and neutropenia.It should be noted that the sample size was relatively small. However, one aspect of the results was particularly promising. The therapy reduced the need for blood transfusions in patients treated with the lowest dose. Additionally, the rate of anemia was only 17%.Among the bulls is 5-star analyst John Newman who noted, “If these data are confirmed in a larger trial, we believe ALRN-6924 would be comparable to trilaciclib, with a potential larger market opportunity than G1's agent.” He added, “We view Aileron's interim ALRN-6924 myelopreservation results positively, with an established proof-of-concept in reducing topotecan associated hematological toxicities.”This month, ALRN will kick off the schedule optimization part of the study, which will evaluate the therapy at up to two dose levels, potentially with an expansion cohort, in up to 20 SCLC patients. Newman points out that the dosing schedule will be shortened, which could “enhance the chemoprotection effects and offer a more convenient dosing schedule for patients.” He stated, “We look forward to viewing these data in 4Q20 to see how it compares with the 24-hour ALRN-6924 dose schedule.”To this end, Newman rates ALRN a Buy along with a $5 price target, which implies a potential twelve-month gain of 440% from current levels. (To watch Newman’s track record, click here) Do other analysts agree? They do. Only Buy ratings, 4, in fact, have been issued in the last three months, so the consensus rating is a Strong Buy. At $4, the average price target implies shares could soar 341% in the next year. (See ALRN stock analysis on TipRanks)Rigel Pharmaceuticals Inc. (RIGL)Developing cutting-edge small molecule drugs, Rigel hopes its products will ultimately improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. Recently, the company has received attention thanks to the potential of its asset in COVID-19, and with its share price at $2.43, several analysts believe that now is the time to buy.In July, RIGL revealed that fostamatinib (Tavalisse), its SYK inhibitor, will be assessed in patients with ITP caused by COVID-19. Five-star analyst Joseph Pantginis, of H.C. Wainwright, told clients, “Recall that SYK inhibition allows the targeting of both Fc and B-cell receptor signaling pathways, which confers broad potential immunomodulatory properties. Specifically, paths are now being defined for using fostamatinib in acute lung injury (ALI), which is associated with acute respiratory distress syndrome (ARDS), which contributes to many COVID-19 related deaths.”Tavalisse has already been granted approval in both the U.S. and E.U., so it could “have an easier path for repurposing beyond the treatment of ITP patients (label) in COVID-associated lung injury.” As for what this path looks like, there will be an investigator-sponsored study (IST) at the Imperial College of London to evaluate the drug in COVID-19 pneumonia.The IST will be a two-stage open label, controlled study, with the primary endpoint being the reduction of hospitalized patients progressing from mild-moderate to severe pneumonia. After this study concludes, RIGL may sponsor another study to advance the program.Adding to the good news, the Broad Institute of MIT and Harvard tested FDA-approved agents’ ability to reduce mucin-1 (MUC-1), which is also a marker in ALI and ARDS, and Tavalisse was the only compound that cut MUC-1. This reflects an additional repurposing opportunity, in Pantginis’ opinion.According to Pantginis, both the IST and MIT/Harvard data showcase the “rapid visibility out of management regarding the potential repurposing of Tavalisse into the COVID-19 fray, which could have positive incremental benefit on the drug's commercial traction.”If that wasn’t enough, the company announced its partner, Grifols, launched Tavlesse (marketed in the U.S. as Tavalisse) in Germany and the U.K. “As per prior management comments, the progressive expansion to other European countries could be possibly guided by the impact of COVID-19 as different regions are handling the pandemic differently and some are expected to resume clinical activities more quickly than others,” Pantginis said.It’s clear why Pantginis continues to take a bullish stance. To this end, he kept his Buy rating and $8 price target as is. What does this mean for investors? Upside potential of 232% is on the table. (To watch Pantginis’ track record, click here) Other analysts are also optimistic about RIGL. A Strong Buy consensus rating breaks down into 4 Buys and no Holds or Sells. In addition, the $7 average price target brings the upside potential to 190%. (See Rigel stock analysis on TipRanks)Curis Inc. (CRIS)Rounding out our list is Curis, which develops therapies for patients battling cancer. With several potential catalysts on the horizon and a share price of only $1.19, some analysts think investors have a unique opportunity on their hands.Writing for Cantor Fitzgerald, five-star analyst Alethia Young reminds investors that CRIS boasts not one, but two clinical-stage programs, namely CA-4948 (IRAK-4 inhibitor) and CI-8993 (anti-VISTA antibody), which are expected to generate proof-of-concept data in the near-term.Looking at the CA-4948 (IRAK-4 inhibitor) program, a study evaluating the asset in AML and high-risk MDS patients was kicked off after a KOL presentation at ASH suggested IRAK4- L may be the driver mutation in AML/MDS patients. Data is slated for release in Q4 2020.Citing data released in 2019, Young points out that CA-4948 already demonstrated tumor reduction. “Although there were no confirmed responses, we think that the discovery of the oncogenic long-form of IRAK4 in roughly half AML and MDS patients by Amit Verma (presented at ASH’19) could better inform future trials... They are starting this study at 200mg, which seems from the Phase 1 to be the minimally effective dose, suggesting that we could get to efficacy data relatively quickly,” she commented.Additionally, CRIS will study the therapy along with a BTK inhibitor. “Over the next 12 months, we will get updated safety and efficacy data from CA-4948’s NHL trial and learn about the RP2D in Q3, which is very important to inform on the dose used in the Phase 2 BTK combination trial,” Young noted.When it comes to the second program, Young believes it “is interesting optionality to the Curis story.” The company licensed the candidate from ImmuNext in January and its IND was accepted by the FDA, so it can progress to a Phase 1 study. “We think even positive safety findings could be a positive catalyst for the stock as the key question remains whether the company can get to the therapeutic dosing levels safely. We will likely start to get early data in late 2020, but we expect 8993 may become a much bigger focus in 2021 if escalation toward efficacious ranges is successful. We are intrigued by the idea of another potential checkpoint that hasn't gotten a lot of attention,” she mentioned.All of this prompted Young to state, “At ~$60 million market cap, we think the market gives almost no credit to either program. We think any positive data will drive positive momentum in the shares.”Everything that CRIS has going for it convinced Young to join the bulls. In addition to initiating coverage with an Overweight rating, the analyst set a $4 price target. This target suggests shares could skyrocket 220% in the year ahead. (To watch Young’s track record, click here) Judging by the consensus breakdown, other analysts also like what they’re seeing. 3 Buys and zero Holds or Sells add up to a unanimous Strong Buy consensus rating. The $5 average price target is more aggressive than Young’s and puts the upside potential at 296%. (See Curis 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.

Here's how much money Americans think they need to retire comfortably

Tue, 08/04/2020 - 15:26

The virus-induced economic crisis is causing Americans to reconsider and make changes to their retirement plans and goals.

Jon Najarian Sees Unusual Options Activity In BP And Tilray

Tue, 08/04/2020 - 15:23

Jon Najarian spoke on CNBC's "Fast Money Halftime Report," about stocks with unusually high options activity. BP plc (NYSE: BP) traded sharply higher on Tuesday on the news that the company decided to cut the dividend in half.Najarian thinks it could easily move to $25 and maybe even go towards $30. He bought the September $25 calls as he noticed a pretty big volume in the strike. They were trading at around 29 cents, which sets the breakeven for the trade at $25.29. Najarian is planning to hold it for two or three weeks.Options traders were also buying the August $8 calls in Tilray Inc (NASDAQ: TLRY). The company is going to report earnings on Aug. 10 and the stock is trading sharply higher on Tuesday. Najarian bought the September $8 calls and he is going to hold them for a week.See more from Benzinga * Cramer Weighs In On Becton Dickinson, Vale And More * Mike Khouw Sees Unusual Options Activity In Disney * Jim Iuorio's S&P 500 Trade(C) 2020 Benzinga does not provide investment advice. All rights reserved.

Coronavirus Vaccine Developer Moderna's Q2 Report: What To Expect

Tue, 08/04/2020 - 14:53

Coronavirus vaccine maker Moderna Inc (NASDAQ: MRNA) is scheduled to report its second-quarter results Wednesday ahead of the market open.Q2 Expectations For Moderna: Cambridge, Massachusetts-based Moderna is widely expected to report a loss of 35 cents per share for the quarter, narrower than the 41-cent-per-share loss reported a year ago.The consensus estimate calls for revenue of $27.43 million, more than double last year's $13.08-million figure. Moderna receives its revenues from collaboration and grants, given that it is yet to have a commercial product in the market.At the end of the first quarter, the company had cash and investments of about $1.7 billion.The company guided in May that it expects net cash used in operating activities and for the purchase of property and equipment to be about $500 million in 2020.Coronavirus Vaccine Candidate: It is less likely that Moderna issues any fresh update on its coronavirus vaccine candidate, mRNA-1273. The company initiated a Phase 3 study of the vaccine candidate in late July.Moderna is likely to report a preliminary Phase 2 reading by late October, Jefferies analyst Michael Yee said in a Monday note.Even as most big pharma coronavirus vaccine makers are announcing supply agreements with governments, Moderna has not yet made such a deal.View more earnings on MRNA"Investors are increasingly curious as to when MRNA will announce an agreement to supply vaccine to the government, and we expect this will be a key focus of the upcoming earnings call on August 5th," SVB Leerink analyst Mani Foroohar said in a note.The company might also be probed on potential pricing amid reports that it is targeting pricing in the $50-$60 range, significantly above rival vaccine developers.The company has 23 mRNA development candidates in its portfolio, with 13 in clinical trials for indications such as infectious diseases, oncology and rare diseases.MRNA Stock: Moderna shares have gained about 300% year-to-date.Jefferies has a Buy rating and $90 price target for Moderna shares, while SVB Leerink rates Moderna shares a Market Perform with a $42 price target.The stock was down 1.1% at $77.12 at last check Tuesday.Related Links:The Week Ahead In Biotech: Novavax Coronavirus Vaccine Readout, FDA Decisions And More Earnings Attention Biotech Investors: Mark Your Calendar For August PDUFA Dates Latest Ratings for MRNA DateFirmActionFromTo Jul 2020SVB LeerinkInitiates Coverage OnMarket Perform Jul 2020JP MorganDowngradesOverweightNeutral Jul 2020Chardan CapitalMaintainsBuy View More Analyst Ratings for MRNA View the Latest Analyst Ratings See more from Benzinga * Moderna Targeted By Chinese Hackers For Data Theft: Report(C) 2020 Benzinga does not provide investment advice. All rights reserved.

Why investors should consider buying Pinterest stock

Tue, 08/04/2020 - 13:31

Yahoo Finance’s On The Move panel weigh in on the latest stories making headlines.

If You Own Sorrento Therapeutics (SRNE) Stock, Should You Sell It Now?

Tue, 08/04/2020 - 12:20

Lakewood Capital Management recently released its Q2 2020 Investor Letter, a copy of which you can download here. In the letter, among other things, the fund reported a net profit of 10.7% for Q2 2020. You should check out Lakewood Capital’s top 5 stock picks for investors to buy right now, which could be the […]

Have Insiders Been Buying Marinus Pharmaceuticals, Inc. (NASDAQ:MRNS) Shares?

Tue, 08/04/2020 - 12:13

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

If You Own Ballard Power Systems (BLDP) Stock, Should You Sell It Now?

Tue, 08/04/2020 - 11:49

Lakewood Capital Management recently released its Q2 2020 Investor Letter, a copy of which you can download here. In the letter, among other things, the fund reported a net profit of 10.7% for Q2 2020. You should check out Lakewood Capital’s top 5 stock picks for investors to buy right now, which could be the […]

Did Hedge Funds Make The Right Call On NovaGold Resources Inc. (NG) ?

Tue, 08/04/2020 - 11:34

Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]

A Look At The Intrinsic Value Of Momo Inc. (NASDAQ:MOMO)

Tue, 08/04/2020 - 11:29

How far off is Momo Inc. (NASDAQ:MOMO) from its intrinsic value? Using the most recent financial data, we'll take a...

Are Institutions Heavily Invested In Altria Group, Inc.'s (NYSE:MO) Shares?

Tue, 08/04/2020 - 10:58

Every investor in Altria Group, Inc. (NYSE:MO) should be aware of the most powerful shareholder groups. Insiders often...

3 “Strong Buy” Dividend Stocks That Pay Over 9%

Tue, 08/04/2020 - 09:55

You can’t always rely on share price appreciation to guarantee a profitable portfolio. Savvy investors know this, and always seek ways to ensure their income stream. Dividends are a common, and popular, way to do this, but bring with them some important questions: Is the dividend reliable – does the company pay it out regularly, in full? Does it yield enough to make the investment worthwhile?These are some of the factors that Wall Street’s analysts weigh when they review dividend stocks. And fortunately, they can answer them in positive terms for investors. While the market conditions aren’t really signaling defensive buying – the S&P 500 has been holding above 3,200 since mid-July, and the NASDAQ has been setting new record highs since June – keeping a reserve of defensive stocks is always a sound strategy to harden your portfolio against the unexpected.With this in mind, we’ve turned to TipRanks database to find three "Strong Buy" dividend stocks with yields starting at 9%, high by any standard, and with potential upsides starting at 14%. These are stocks that will both grow the portfolio and provide a steady income.Hercules Capital (HTGC)We’ll start in venture capital, the engine of so much economic activity. Hercules Capital offers financing services to small, early-stage companies in the technology, life sciences, and financial SaaS sectors, and boasts some $10 billion committed to its investment portfolio.HTGC weathered the corona storm well in the first quarter, reporting strong EPS above the estimates. Q2, however, saw a decline. Investment income fell nearly 2% year-over-year, and EPS dropped to 32 cents, missing the forecast by one cent. Hercules saw a boost from a 5% drop in operating expenses.The quarterly results, while disappointing, were enough to ensure the company’s generous dividend. Hercules has a history of adjusting the payment to keep it line with earnings, but this quarter’s 32 cents per common share was kept stable. The annualized rate, $1.28, gives a yield of nearly 11.1%, which is far better than the 2% average yield found among S&P-listed companies. Hercules has a 13-year history of keeping reliable dividend payments.Tim Hayes, of B. Riley FBR, writes of Hercules, “While lower interest rates weighed on earnings power during the quarter, NII/share covered the $0.32/share quarterly dividend, and we expect the dividend to remain stable in the near-/intermediate term given the healthy cash runway amongst portfolio companies and a strong VC backdrop [...] we remain buyers of shares of HTGC, which currently trade at 1.08x 2Q20 NAV."In line with these comments, Hayes rates HTGC a Buy along with a $12.50 price target, which implies a 9% upside from current levels. (To watch Hayes’ track record, click here)Wall Street clearly agrees with Hayes – Hercules has a unanimous Strong Buy analyst consensus rating, based on 9 analyst reviews. The stock is selling for $11.45 and the average price target of $12.57 is in congruent with Hayes’, suggesting a one-year upside of 10%. (See HTGC stock analysis on TipRanks)Global Net Lease (GNL)Next up, Global Net Lease, is a real estate investment trust. REITs are typically dividend champs, due to tax code provisions requiring them to return a high percentage of earnings directly to investors. GNL, with a portfolio built on US and European commercial properties, aims to provide investors with stable dividends and steady portfolio growth potential. While the growth potential has stalled in recent months, due to the ongoing coronavirus crisis, the company’s stock shares are up 94% since hitting bottom in March. Earnings during 1H20, the ‘corona half,’ have been stable, at 44 cents per share for Q1.In an effort to keep the dividend and EPS in line together, the company cut back the quarterly dividend payment during the half. The current dividend is 40 cents per share, making the yield 9.6%. This is impressive on its own, but more so considering that it comes after a 20% cut and while the stock has been gradually gaining ground.Berenberg analyst Nathan Crossett writes, “The strength of GNL’s portfolio through diversification and focus on investment grade tenancy is exemplified by the level of its rent collections during the peak of the pandemic. As of June 2, GNL had collected 96% of the original cash rent due quarter to date for the second quarter; this includes 99% of rent for assets in the United Kingdom and 97% of rent for assets in the rest of Europe.”A REIT with that level of success in rent collection is easily rated a Buy, and Crossett adds a $22 price target, suggesting room for 34% upside growth. (To watch Crossett’s track record, click here)Overall, Global Net Lease has 3 Buys and 1 Hold behind its Strong Buy consensus rating. The stock is selling for $16.43 and has an average price target of $20.17, giving it a 23% upside potential. (See GNL stock analysis on TipRanks)Cherry Hill Mortgage (CHMI)Last on today’s list is Cherry Hill Mortgage, named for its headquarters town in New Jersey. This REIT holds a portfolio of mortgage-based assets rather than direct property ownership. CHMI’s portfolio includes heavy investments in mortgage service rights and mortgage-backed securities.Through the first quarter, Cherry Hill beat the forecasts on earnings. Quarterly EPS in both Q4 and Q1 were from Q3 2019, an impressive feat during a period when most companies were seeing sharp drops sequentially. Q1 EPS came in at 47 cents, compared to a 43-cent expectation.In a nod to the ongoing health and financial crises, CHMI cut back on its dividend payment in Q2. The company set the payment at 27 cents per share of common stock, giving an annualized payment of $1.08 and a yield of 11.7%. That dividend yield compares favorably to most other investments, especially US Treasury bonds which are currently at record low rates.5-star analyst Steven DeLaney, of JMP Securities, likes what he sees in CHMI, viewing the company as fundamentally sound. He writes, “in the wake of the March-April market disruption and 1Q20 results … core earnings and book value held up relatively well despite unprecedented COVID-19-related market volatility. We continue to view the company’s valuation as attractive…”DeLaney’s $10.50 price target supports his Buy rating and suggests a solid one-year upside for the stock of 15.5%. (To watch DeLaney’s track record, click here)Cherry Hill is another company with a unanimous Strong Buy analyst consensus rating, this one based on 3 recent reviews. The stock’s average price target of $11.33 is somewhat more bullish than DeLaney allows, indicating room for a 25% upside in the next 12 months. (See Cherry Hill’s stock analysis at TipRanks)To find good ideas for divided stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

What a weaker dollar means for stocks: Morning Brief

Tue, 08/04/2020 - 07:37

Top news and what to watch in the markets on Tuesday, August 4, 2020.

Why Gold’s Upward run Is Unlikely to Last Long

Tue, 08/04/2020 - 02:47

Gold futures price had been relatively stable in recent days on expectations of more stimuli from the world’s largest economy with a pending USD1 trillion fiscal stimulus package awaiting passage from U.S Congress.

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