Jump to Navigation

Feed aggregator

3 Monster Growth Stocks That Have Legs for Future Gains

Forest Products IIII - Sun, 25/10/2020 - 17:01

Which investment strategy has stood the test of time? Growth investing. The pros from Wall Street argue that stocks with outsized growth prospects reflect some of the most compelling plays out there. This growth potential extends beyond the near-term, with these names set to deliver handsome returns through 2020 and beyond. That said, finding stocks that fall into this category can be challenging, to say the least. According to the analysts, one strategy is to take a step back and look at the big picture, focusing on the names that stand to see long-term growth on top of their impressive year-to-date gains. Bearing this in mind, we used TipRanks’ database to pinpoint three growth stocks on the receiving end of significant praise from analysts. All three of these tickers have already achieved serious growth in 2020, and are primed to keep climbing higher. Penn National Gaming (PENN) First up we have Penn National Gaming, which owns and operates gaming and racing facilities as well as has video gaming terminal operations throughout the U.S. This name has already soared 146% year-to-date, but some Wall Street analysts believe there’s plenty of fuel left in the tank. PENN recently pre-announced Q3 results that blew estimates out of the water. For the quarter, the company expects margins to expand by over 900 basis points and adjusted EBITDAR to increase by 5% year-over-year, even though revenue was tracking down 10% year-over-year. Weighing in for J.P. Morgan, five-star analyst Joseph Greff told clients, “The regional gaming recovery seen during May/June continued into the Q3, with revenues coming in better than feared; we had previously assumed a slower ramp once pent-up demand normalized and little/no opex creep from post-COVID efficiency gains.” That being said, Greff acknowledges that given the stellar share price performance, some other analysts have “thrown in the towel with downgrades.” However, he still sees “value and catalysts ahead.” The analyst commented, “... there is a tug of war in terms of investor sentiment—which we think is healthy for the stock and almost necessary for the stock to continue to move higher; in our view, traditional gaming equity investors are not completely bulled up, and, in fact, we think there is plenty of investor skepticism related to PENN’s ability to compete with DraftKings, Fanduel, Caesars Entertainment, MGM/GVC, et al., given PENN’s relative balance sheet size to fund early stage sports betting customer acquisition costs, but we believe this risk, to the extent it is meaningful, to compete is now diminished given ~$950 million raised from its recent equity raise.” On top of this, PENN recently launched the Barstool Sports betting app in Pennsylvania. Calling the early launch “encouraging both from a volume and marketing spend perspective,” Greff argues it demonstrates “the potential of its unique approach to share grab.” In addition, momentum is ramping up for Barstool Sportsbook. What’s more, Greff thinks that the current sports betting and iGaming environment resembles the emergence of regional markets in the 1990s, when states with budget deficits turned to new revenue streams like riverboat gaming to help fund budget deficits. Expounding on this, the analyst stated, “We think the states will look to USSB and iGaming in much the same way and PENN will be one of the winners. We like the U.S. Regional land-based gaming/sports betting/iGaming landscape and see upside.” It should come as no surprise, then, that Greff stayed with the bulls. In addition to an Overweight rating, he left an $83 price target on the stock. Investors could be pocketing a gain of 32%, should this target be met in the twelve months ahead. (To watch Greff’s track record, click here) What does the rest of the Street have to say? 9 Buys, 3 Holds and 1 Sell have been issued in the last three months. Therefore, PENN gets a Moderate Buy consensus rating. Based on the $76.77 average price target, shares could rise 22% in the next year. (See Penn National Gaming stock analysis on TipRanks) Redfin (RDFN) Starting out in the map-based search space, Redfin expanded its product offering to make the home tour, listing debut and escrow processes faster and easier. Out on Wall Street, some think that this name is experiencing more than just a COVID demand surge, with its 113% year-to-date gain only the beginning. Although RDFN is coming off of a strong Q3 pre-announcement, investors were somewhat disappointed by the results. BTIG’s Jake Fuller points out that shares likely traded off because “expectations were high and the scale of revenue upside modest at ~2%,” and “momentum investors tend to reward volume-led beats and RDFN actually lagged expectations on that front.” It doesn’t help that RDFN is not a focus name for many, suggesting that investors might not have looked past the revenue disclosure, according to Fuller. However, he argues the Street could be missing key pieces of the puzzle. The five-star analyst mentioned, “What might be getting overlooked here is that RDFN has stepped up commission rates with no obvious impact to conversion, and that should translate into a significantly stronger gross profit outlook for RDFN.” To this end, he bumped up his 2021 gross profit estimate by 47%. Looking at the details of the quarter, RDFN experienced robust demand, with Real Estate Services revenue increasing 36% year-over-year. Site traffic and transactions were also up on a quarter-over-quarter basis. However, it should be noted that the upside was driven by revenue per transaction. “That is important because it suggests that anticipated commission rate increases are finally contributing,” Fuller said. “By our tally, Real Estate Services revenue went from 1.68% of GTV in Q3 2019 and 1.78% in Q2 2020 to an estimated 1.85% in Q3 2020. A four-point beat on gross margin suggests high flow through on that. While difficult to assess the durability of demand, pricing gains and a better margin profile should be sustainable,” Fuller commented. In line with his optimistic approach, Fuller sides with the bulls, reiterating a Buy rating and $65 price target. This target conveys his confidence in RDFN’s ability to climb 45% higher in the next year. (To watch Fuller’s track record, click here) Turning to the rest of the Street, opinions are more varied. With 6 Buys, 5 Holds and 1 Sell assigned in the last three months, the word on the Street is that RDFN is a Moderate Buy. At $50, the average price target implies 11% upside potential. (See Redfin stock analysis on TipRanks) Vertiv Holdings (VRT) As one of the leading global providers of hardware, software and services, Vertiv Holdings helps facilitate an interconnected marketplace of digital systems where large amounts of indispensable data needs to be transmitted, analyzed, processed and stored. Up 71% year-to-date, more gains could be on the horizon, so says Wall Street. Even with the major share price appreciation, Wolfe Research analyst Nigel Coe sees a favorable risk/reward profile. “We believe that Vertiv is a rare breed that can appeal to a broad cross section of investors: a mid-cap growth company that can deliver attractive margin expansion at a discounted valuation, captained by a top-class executive team,” he explained. When it comes to VRT’s runway for growth, its key customer end markets are data center and telecommunications. These spaces are areas where Coe expects to see growth in 2020 and 2021, as well as long-term secular tailwinds from increasing data intensity and 5G upgrades. Additionally, management has outlined a pathway to 500 basis points of margin expansion, driven by efforts to keep fixed costs constant via a variety of operational upgrades and a reduction in organizational complexity. “This is the playbook deployed by Executive Chairman David Cote so successfully under his tenure at Honeywell, and this gives us conviction that a similar playbook can be deployed at Vertiv,” Coe said. It should be noted that VRT exited Q2 2020 with net debt of roughly $2.1 billion, and net debt/EBITDA landing at 4.2x. Even though this is at the high end of the range, Coe argues the balance sheet could rapidly de-leverage. To this end, he calculates surplus capital of $1 billion by 2023, assuming a net debt/EBITDA ratio of 2x. “We don't currently view Vertiv as a clear capital deployment story, but this could come to the fore over the 2022/23 time frame - we could certainly see acquisitions that bolster its capability in power distribution and perhaps at the DCIM layer. Other potential options include the settlement of warrants for cash (these are currently reflected in our diluted share count calculation) and the institution of a dividend that would widen the potential for institutional ownership. We also cannot ignore the scope for strategic partnerships with many larger electrical equipment market participants that are not significant players in the data center,” Coe commented. Everything that VRT has going for it convinced Coe to reiterate an Outperform rating. Along with the call, he set a $23 price target, suggesting 22% upside potential. (To watch Coe’s track record, click here) Are other analysts in agreement? They are. Only Buy ratings, 4 to be exact, have been published in the last three months. Therefore, the message is clear: VRT is a Strong Buy. Given the $20.75 average price target, shares could surge 10% in the next year. (See Vertiv Holdings stock analysis on TipRanks) 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.

Amazon Wins Order to Stall $3.4 Billion Reliance-Future Deal

Forest Products IIII - Sun, 25/10/2020 - 16:42

(Bloomberg) -- Amazon.com Inc. secured relief in its dispute with Future Group after a court put a temporary hold on Future’s $3.4 billion sale deal with Indian billionaire Mukesh Ambani’s Reliance Industries Ltd.An arbitration court in Singapore restrained Future Retail Ltd. and its founders from going ahead with the sale of assets, according to people with knowledge of the matter, who asked not to be identified as the proceedings were private. The ruling was on Amazon’s request for an interim order before main tribunal hearings start.In an emailed statement late Sunday in Mumbai, Amazon said it got all the relief it sought, without providing specifics. “We welcome the award of the Emergency Arbitrator,” Amazon said. “We remain committed to an expeditious conclusion of the arbitration process.”Representatives for the Future Group declined to immediately comment when reached outside of business hours in India.The ruling marks some respite for the American e-commerce giant as it seeks to halt India’s biggest retail deal that can give Ambani, Asia’s richest man, unparalleled dominance in the race for India’s estimated $1 trillion retail market. Ambani’s Reliance is already India’s biggest brick-and-mortar retailer and has ambitious plans for the online segment, where it’ll take on Amazon.Battle LinesAmazon drew the battle lines earlier this month when it accused its partner, Future Group, of violating a contract by agreeing to a buyout by Reliance. The deal was a bailout for the Future Group, which could once again face a severe cash crunch amid intensifying competition and the pandemic-induced lockdown.A spokeswoman for the Seattle-based e-tailer told Bloomberg on Oct. 8 that it had initiated steps to enforce its contractual rights, without giving more details. The deal between Reliance and Future, announced late August, is awaiting regulatory approvals, which won’t necessarily be delayed by the Singapore court’s order.Amazon agreed to purchase 49% of one of Future’s unlisted firms last year, with the right to buy into flagship Future Retail after a period of between three and 10 years. But about two months ago, rival Reliance announced it would buy the retail, wholesale, logistics and warehousing units of the indebted Future Group, almost doubling its footprint.In May, Amazon was considering increasing its stake in Future’s retail unit to as much as 49%, people familiar with the matter said at the time. But that transaction didn’t materialize in time for Future, forcing it to cut a deal with Ambani’s refining-to-retail conglomerate.Blocking Reliance’s rising stronghold on India’s retail sector is crucial for Amazon if it wants to dominate the only billion-people plus consumer market that’s still open to foreign firms.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.

Pelosi, White House Say Each ‘Moving the Goalposts’ on Stimulus

Forest Products IIII - Sun, 25/10/2020 - 15:58

(Bloomberg) -- House Speaker Nancy Pelosi said the chamber could pass a pandemic relief plan this week, though a deal with the White House remains elusive and the Republican-led Senate might not act before the Nov. 3 U.S. election.Pelosi and White House Chief of Staff Mark Meadows accused each other of “moving the goalposts” on stimulus legislation in back-to-back Sunday interviews on CNN, showing why there’s so much pessimism among U.S. lawmakers that a deal can be reached before Election Day. Pelosi cited a continuing lack of agreement on funding for stemming the coronavirus pandemic and on aid related to education.“It could happen this week in the House,” Pelosi said on “State of the Union.” But it’s up to Majority Leader Mitch McConnell “as to whether it will happen in the Senate,” she said. “We want it the sooner the better, and that’s why we’re making concessions.”Meadows didn’t sound optimistic. “We continue to make offer after offer after offer, and Nancy Pelosi keeps moving the goalposts,” he said on the same show.Pelosi said the administration was delivering updated proposed language on some unresolved issues, including those related to a testing and tracing program. “My understanding is we will be reviewing that over the weekend and will be having some answers on Monday,” she said.If no coronavirus relief bill is passed before the election, Pelosi said House Democrats would keep pressing for an agreement in the lame-duck session after the election. She said they would not wait until January, even if Democrats won control of the White House and both chamber of Congress.Trump’s RolePelosi has sought to place the burden on President Donald Trump to push forward on stimulus talks and get reluctant Republicans to go along with any deal reached with the White House on a nearly $2 trillion aid package.Meadows said the administration can’t say whether 13 Republicans senators would support a deal until one is reached. That’s the number needed to vote with Democrats and get a bill on the Senate floor.“Obviously we’ve identified those Senate Republicans most likely to vote for it,” Meadows said on Sunday. “We haven’t got an agreement. I do have a commitment from Leader McConnell that if we have an agreement he’s willing to bring it to the floor and get it passed.”Committees and staff are working through the weekend and Pelosi will speak with Treasury Secretary Steven Mnuchin, when there has been additional progress, Pelosi spokesman Drew Hammill said last week.The Senate is set to leave Washington on Monday after voting on the confirmation of Supreme Court nominee Amy Coney Barrett, while the House is already out. Both could be called in for a vote with 24 hours notice, though that scenario is unlikely in the week before the national election.“People need help right away,” Pelosi said. “What we’re doing right now is to make the bill bigger, better and safer for you. And it will be retroactive.”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.

Here's What We Think About Honeywell International's (NYSE:HON) CEO Pay

Forest Products IIII - Sun, 25/10/2020 - 15:57

Darius Adamczyk has been the CEO of Honeywell International Inc. (NYSE:HON) since 2017, and this article will examine...

Qatar signs deal to buy Moderna COVID-19 vaccine

Forest Products IIII - Sun, 25/10/2020 - 15:56

Qatar has signed an agreement with drugmaker Moderna Inc to buy its potential COVID-19 vaccine as soon as it is approved and released for global use, state news agency QNA quoted a health official as saying on Sunday. There are no internationally approved vaccines yet, but several are in advanced trials, including from Pfizer Inc , Johnson & Johnson and Moderna. "Negotiating early and securing a number of agreements enhances our chances of getting sufficient quantities of the vaccine early," said Abdullatif al-Khal, chair of a national COVID-19 health group and head of infectious diseases at Hamad Medical Corporation.

Sirius XM Holdings Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Forest Products IIII - Sun, 25/10/2020 - 15:26

Sirius XM Holdings Inc. (NASDAQ:SIRI) defied analyst predictions to release its third-quarter results, which were...

How Much Did First Financial Bancorp's(NASDAQ:FFBC) Shareholders Earn From Share Price Movements Over The Last Three Years?

Forest Products IIII - Sun, 25/10/2020 - 15:14

First Financial Bancorp. (NASDAQ:FFBC) shareholders should be happy to see the share price up 24% in the last month...

The Boston Beer Company, Inc. Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next

Forest Products IIII - Sun, 25/10/2020 - 15:06

It's been a pretty great week for The Boston Beer Company, Inc. (NYSE:SAM) shareholders, with its shares surging 15...

Barron's Picks And Pans: Coca-Cola, Sprouts Farmers Market, Mirati Therapeutics And More

Forest Products IIII - Sun, 25/10/2020 - 14:21

* This weekend's Barron's cover story examines the prospects for an iconic beverage giant in a post-pandemic world. * Other featured articles discuss emerging markets stock on the rise and where to find yield in utilities. * Also, the prospects for medical REITs, a supermarket operator, cancer-focused biotechs and more. Cover story "Why Coke Could Be It Again" by Andrew Bary suggests that few big consumer companies have been hit harder by the pandemic than Coca-Cola Co. (NYSE: KO). Yet, as people return to normal in a vaccinated world, the multinational beverage giant's global exposure could help it soar to new heights.Reshma Kapadia's "These Emerging Market Stocks Can Rival U.S. Tech Giants" says that, after a down decade, emerging market stocks are looking up. A number of internet and health-care companies in overseas markets are still in their growth trajectories, offering big opportunities. Is Alibaba Group Holding Ltd. (NYSE: BABA) worth a look?In "3 Medical REITs to Play a Return in Health Care," Darren Fonda makes the case that real estate investment trusts that specialize in health-care facilities are on solid footing and they have room to grow. Find out what Barron's likes about Physicians Realty Trust (NYSE: DOC) and a couple of its peers.NextEra Energy Inc. (NYSE: NEE) is on a roll, up 26% this year, according to "8 Utility Stocks That Offer Safe and Growing Yields" by Lawrence C. Strauss. But there is no shortage of yield elsewhere in the utility sector, along with some downside protection. Xcel Energy Inc. (NYSE: XEL) is just one of the Barron's picks.In Eric Savitz's "Don't Ditch Big Tech Stocks. The Concerns Are Overblown," discover why, even as increasing regulatory scrutiny raises questions, the primary driver for companies such as Apple Inc. (NASDAQ: AAPL) and Microsoft Corp. (NASDAQ: MSFT) has been innovation and execution, not cheating and bullying.See also: Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Pfizer And More"Look Out for a Holiday-Shopping Head Fake" by Jack Hough examines why November might be the right time to dump department store stocks such as Kohl's Corp. (NYSE: KSS) and Macy's Inc. (NYSE: M) for tax losses. What about Nike Inc. (NYSE: NKE)?First Sprouts Farmers Market Inc. (NASDAQ: SFM) was a COVID-19 winner, and then it was a COVID -19 loser. So says Teresa Rivas's "Sprouts Stock Is Ready for a Rebound." After losing nearly a quarter of its value during the past three months, could this Phoenix-based supermarket chain operator be poised for a rebound?In "Bullish on Tesla, Telehealth, and the Genomics Revolution," Evie Liu shares why the CEO of ARK Investment is a student of disruption innovation, and why thinks Tesla Inc (NASDAQ: TSLA) will leave Uber Technologies Inc. (NYSE: UBER) and others in a cloud of dust.Bill Alpert's "Cancer Meeting Could Ignite These Biotech Stocks" is focused on this year's ENA Symposium, in which cancer researchers convene online to see new data on drugs being tested by a host of biotech companies. Discover why Barron's thinks Mirati Therapeutics Inc. (NASDAQ: MRTX) will be one of the most widely watched.Also in this week's Barron's: * How much you would pay under Biden's and Trump's tax plans * How the presidential candidates' tax plans would help -- and hurt -- the economy * What a blue wave could mean for the bond market * Why 2021 will be a challenge for investors * Why tech sector valuations are cause for concern * What diesel gas market may signal about the economy * The next battle in the electric vehicle wars * Whether leveraged buyouts are bouncing back * Whether China's bonds are as safe as Treasuries * Whether it is time to try Thailand's stock market At 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.See more from Benzinga * Click here for options trades from Benzinga * Benzinga's Bulls And Bears Of The Week: Boeing, Netflix, Pfizer And More * Last Week's Notable Insider Buys: Carnival, Citigroup And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Have Insiders Been Buying Cardiff Oncology, Inc. (NASDAQ:CRDF) Shares?

Forest Products IIII - Sun, 25/10/2020 - 14:19

It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...

Big Tech earnings, Q3 GDP: What to know in the week ahead

Forest Products IIII - Sun, 25/10/2020 - 14:04

This week’s marquee earnings and economic data reports will mostly take place later in the week, with the majority of the FAANG stocks reporting after market close on Thursday.

Results: Nucor Corporation Exceeded Expectations And The Consensus Has Updated Its Estimates

Forest Products IIII - Sun, 25/10/2020 - 13:51

Nucor Corporation (NYSE:NUE) investors will be delighted, with the company turning in some strong numbers with its...

ConocoPhillips-Concho Deal Reaction

Forest Products IIII - Sun, 25/10/2020 - 10:10

Wood Mackenzie has described the $9.7 billion deal as 'remarkable'.

Big Oil Loses Refining Crutch With Margins Crushed Last Quarter

Forest Products IIII - Sun, 25/10/2020 - 09:00

(Bloomberg) -- Six months on from crude’s era-defining price crash and Big Oil is suffering from whiplash.Prices may have stabilized around $40 a barrel as OPEC+ curbed supply, but as the coronavirus surges through Europe once again, the twin safety nets for majors in previous downturns -- refining and trading -- have come under severe pressure as consumers stay home.“Refining margins are absolutely terrible,” Patrick Pouyanne, Total SE’s Chief Executive Officer, said earlier this month. The French major, along with a raft of other oil companies and refiners, have warned investors that slumping margins will be a drag on profits. For some like Exxon Mobil Corp., it might even push them into the red.The third quarter will provide little respite to the supermajors with three out of the five expected to post losses. Trading, which brought the European firms a torrent of cash last quarter, is unlikely to save the day this time around.But will there be any glimmers of hope for the end of the year? BP kicks off earning seasons on Tuesday, followed by Italy’s Eni SpA on Wednesday. Royal Dutch Shell Plc will announce results on October 29, while Total, Exxon and Chevron Corp. will do so on October 30.Here are five themes that delve into what the quarter might bring for Big Oil.1\. Negative MarginsWhile oil prices have stabilized from the historic lows seen in the second quarter, travel restrictions, local lockdowns and a growing second wave of Covid-19 has put a lid on oil consumption in many parts of Europe. The hit to demand has pushed a growing list of refiners to post negative margins -- meaning they lost money when turning crude oil into consumable refined products like gasoline -- in some cases, for the first time.Earlier this month, Total reported a negative European refining margin of minus $2.70 a ton. Barclays analysts subsequently lowered its expectations for lower earnings for the company in the second quarter. “The main source of difference to our expectations was in the downstream, where the reference refining margin fell below zero for the first time we can remember,” analyst Lydia Rainforth wrote in a research note.Shell warned of “significantly lower” margins compared with the second quarter, while Exxon also flagged deteriorating performance at its global network of refineries. This weakening will reduce earnings by as much as $600 million, likely causing a third consecutive quarterly loss, the company said in a filing earlier this month.And it’s not just Big Oil. Smaller refiners are feeling the pinch. On the Iberian Peninsula, Repsol SA and Galp Energia have reported refining has become increasingly uneconomic. Further east, MOL Hungarian Oil & Gas Plc reduced its earning projections for the full year after margins fell below zero from mid-May. Italy’s Saras SpA said it would run its Sarroch refinery in Sardinia at a minimum after refining margins “sharpened during the third quarter.” The plant, one of Europe’s largest, is geared toward the production of jet fuel and diesel, where the slump in profits per barrel has been most severe.2\. Trading Bonanza Fizzles OutVirtually every aspect of Big Oil’s business, from the pump to upstream production was pummeled in the second quarter, save one area: oil trading. A windfall from the division saved Shell, Total and Equinor ASA from posting losses. For BP, it was the one bright spot in an otherwise dismal period.While majors don’t disclose how much money trading units bring in, executives acknowledged it had been an extraordinary quarter. Total’s Pouyanne said it made about $500 million more than usual. For Shell, it was “the best on record,” while for BP the unit delivered an “exceptionally strong result.”Traders at the firms had benefited from wild volatility and in particular, so-called contango plays. The trade involves buying cheap crude, storing it and locking in a profit by selling it at a higher price in the future on the derivatives market. Contango and volatility have since eased, meaning the divisions are unlikely to replicate the success. Shell warned that the unit’s performance will be “below average” in the third quarter.U.S. rivals rivals Exxon and Chevron for the most part steer clear of pure trading. Exxon did start a modest trading operation two years ago, but the supermajor’s division bucked the trend last quarter having experienced “unfavorable” derivative impacts in its trading division.3\. Dividend DoubtsThe first half of the year brought disappointing news to income seekers. Shell cut its dividend for the first time since World War II in April, while BP followed suit in August. Before the cut, the companies were respectively the first and third biggest dividend payers on London’s FTSE 100 Index. While Total has managed to keep it’s payout untouched, European peers Eni SpA and Equinor ASA went for a cut.Across the Atlantic, Chevron and Exxon have repeatedly told investors that keeping the dividend is a priority. Yet Exxon has failed to generate enough cash to pay for its dividend and capital spending for each of the last eight quarters, putting the quarterly payout, the third-highest in the S&P 500 Index, under severe pressure. Executives have vowed to find additional cost savings to defend the payout, but investors are not convinced. The stock’s dividend yield is currently over 10%, indicating that a cut is imminent.4\. LNG LagInvestors have been given plenty of warning that the brunt of Covid-19’s impact on liquid natural gas trading is only hitting balance sheets now. The largest LNG producers typically sell under long-term contracts that are linked to oil prices. These usually have a lag of three to six months.Shell, the world’s largest LNG trader, is expecting a “significant impact” on LNG margins in the third quarter. About 80% of its term sales this year are linked to oil and have a price lag of up to six months, it said in a trading update.Chevron too is likely to be impacted by LNG pricing delays. The company, which has a large LNG presence in Australia, sells most of its production through oil-linked long-term contracts.READ: Chevron Sees More Spot LNG Cargoes in Near Term on Higher OutputBrent’s crash in April has now made long-term contracts cheaper than spot LNG deals, where prices in contrast surged in past weeks amid higher demand in Asia and supply issues at a number of producing plants.In addition to price and demand issues, Chevron and Shell have been struggling with technical problems at their multi-billion LNG facilities - Gorgon and Prelude - in Australia.5\. Shale ConsolidationAmerica’s shale patch entered full-blown merger mode this month with a series of multi-billion dollar deals aimed at cutting costs and scaling up operations in a fragmented and beleaguered industry. What role the majors play in the shake up, if any, remains front and center of investors’ minds.Chevron is the only integrated oil company to participate so far this year, with a $5 billion purchase of Noble Energy Inc. completed in early October and it has the financial resources to strike again. Exxon is cash strapped while investing in shale oil would jar with some European companies’ strategies of pivoting toward renewables. Still, opportunities abound with sellers agreeing to takeovers at modest premiums.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.

AstraZeneca Gets FDA Nod To Resume US Covid-19 Trial

Forest Products IIII - Sun, 25/10/2020 - 08:03

AstraZeneca announced on Friday that the US Food and Drug Administration (FDA) has authorized the restart of the US late-stage trial of AZD1222, its coronavirus vaccine candidate, which it is developing together with Oxford University.AstraZeneca (AZN) said that that the FDA reviewed all safety data from trials and concluded it was safe to resume the trial. AZD1222’s clinical trials have now resumed globally as regulators in the UK, Brazil, South Africa and Japan over the past weeks confirmed that it was safe to do so.On Sept. 6, all global clinical trials of AstraZeneca/Oxford’s vaccine candidate were halted after an adverse event as a UK participant became seriously ill. The trials were paused to allow the review of safety data by independent committees, and international regulators. The company said the voluntary move was triggered by its standard review process, but did not disclose any further information.AZD1222 was co-invented by the University of Oxford and its spin-out company, Vaccitech. It uses a replication-deficient chimpanzee viral vector based on a weakened version of a common cold virus (adenovirus) that causes infections in chimpanzees and contains the genetic material of the SARS-CoV-2 virus spike protein. After vaccination, the surface spike protein is produced, priming the immune system to attack the SARS-CoV-2 virus if it later infects the body.“The restart of clinical trials across the world is great news as it allows us to continue our efforts to develop this vaccine to help defeat this terrible pandemic,” said AstraZeneca CEO Pascal Soriot. “We should be reassured by the care taken by independent regulators to protect the public and ensure the vaccine is safe before it is approved for use.”The drugmaker added that “it is not unusual that in large scale vaccine trials, some participants will become unwell, and every case has to be evaluated to ensure the careful assessment of safety”.AstraZeneca expects to receive results from late-stage trials later this year, depending on the infection rate within the populations where the clinical trials are being conducted. Once the results are available, data readouts will be submitted to regulators and published in peer-reviewed scientific journals.In addition, rolling reviews of the vaccine programme have already begun in some countries where this regulatory pathway is possible, providing regulators access to data as soon as they become available.AZN shares, which have lost more than 4% over the past month as a result of the clinical trial halt, are still up 4.3% on a year-to-date basis. (See AstraZeneca stock analysis on TipRanks)SVB Leerink analyst Andrew Berens recently reiterated a Buy rating on the stock with a $65 price target (25% upside potential) suggesting that the adverse event could have a broader impact and could cause near-term volatility in AstraZeneca’s shares as well as in the stock of other companies with COVID vaccine programs until the exact nature of the event is clear.As a result, Berens cautions that the overall speed of many of the programs could be affected as the investigation progresses and sponsors become more vigilant, as well as public sentiment regarding the safety of the vaccines once approved.Overall, AZN scores a Strong Buy consensus from the analyst community with 4 unanimous Buy ratings. Looking ahead, the $77.38 average analyst price target puts the upside potential at a promising 49% in the coming 12 months.Related News: Gilead’s Covid-19 Remdesivir Drug Scores FDA Approval; Shares Surge Xeris Wins FDA Fast Track Path For Epilepsy Treatment; Shares Spike 9% AbbVie Submits US, EU Rinvoq Applications For Atopic Dermatitis More recent articles from Smarter Analyst: * RBC Turns Bullish On PulteGroup, Sees 21% Upside * Gentex 3Q Profit Outperforms After Cost Cutting Spree * Illinois Tool Gains On 3Q Sales Beat; Analyst Sticks To Hold * Autoliv’s 3Q Earnings Rise As Demand Picks Up; Street Says Hold

Madoff Whistleblower Flags Next Big Financial Scandals (RE-RELEASE)

Forest Products IIII - Sun, 25/10/2020 - 06:00

Harry Markopolos is the former derivatives professional turned independent financial fraud investigator who uncovered the $65 billion Bernie Madoff Ponzi scheme, only to be ignored by the SEC for over nine years. A vocal critic of the US regulator, Harry now has the audit world and insurance industry in his sights as the next big financial frauds yet to come to light.

Lee Kun-hee, who made South Korea's Samsung a global powerhouse, dies at 78

Forest Products IIII - Sun, 25/10/2020 - 03:24

Lee Kun-hee, who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday after spending more than six years in hospital following a heart attack, the company said. The charismatic leader of Samsung Group and the country's richest person, grew it into South Korea’s biggest conglomerate. "Lee is such a symbolic figure in South Korea's spectacular rise and how South Korea embraced globalisation, that his death will be remembered by so many Koreans," said Chung Sun-sup, chief executive of corporate researcher firm Chaebul.com.

Samsung's Lee: tainted titan who built a global tech giant

Forest Products IIII - Sun, 25/10/2020 - 03:04

In February 1993, five years after taking over from his father at South Korea's Samsung Group, 51-year-old Lee Kun-hee was frustrated that he wasn't making his mark. After a tense nine-hour follow-up meeting, Lee kick-started a strategic shift at Samsung - to gain market share through quality, not quantity. Lee, who died aged 78 on Sunday after being hospitalised for a heart attack in 2014, was driven by a constant sense of crisis, which he instilled in his leadership teams to drive change and fight complacency.


Subscribe to ForestIndustries.EU aggregator

by Dr. Radut