Month: June 2020

On May 15, I showed you three reasons I thought homebuilding stocks were going to be long-term outperformers…
Reason No. 1: There has been more than a decade of massively underbuilding new homes in the United States since the housing bubble popped in 2008.
Reason No. 2: Interest rates are low, and they aren’t going anywhere anytime soon. The Federal Reserve has told us as much, and that means we are going to have historically low mortgage rates stimulating buyer demand.
Reason No. 3: Share prices of homebuilders are cheap. The sector has underperformed the overall market since the COVID-19 outbreak started in …read more […]

(Bloomberg) — Carnival Corp. is the latest cruise line to lose its investment-grade credit ratings after S&P Global Ratings downgraded the company Tuesday.S&P slashed the company’s long-term rating by three levels to BB-, from BBB-, saying the cruise line’s credit metrics are likely “to remain very weak through at least 2021” as it begins to slowly resume its operations. The cut from S&P hands the company a second high-yield credit rating, meaning its debt will leave investment-grade credit indexes.Moody’s Investors Service cut the company to junk in May. In a statement Tuesday, it downgraded Carnival’s unsecured credit ratings by one …read more […]

With the addition of sleep tracking, the Apple Watch is now easily the best smartwatch money can buy. …read more […]

Stock futures opened slightly lower Tuesday evening after another tech-led rally during the regular session. …read more […]

Pot stocks have blazed higher from their 52-week lows in March.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) has sprung 71% higher from its trough on March 16. And major licensed Canadian producers, as well as large U.S. multistate operators (MSOs), have gained 60% or more since then.
But for the most part, despite these face-ripping rallies over the last few months, pot stocks are underperforming the broader indexes by significant margins year to date.
Still, there’s one group of cannabis stocks shining bright.
Its members are flying under the radar, bucking the trend. However, that’s not the only reason they deserve …read more […]

The U.S. oil and gas sector used to be worth $3 trillion, now there are three companies worth more than the entire sector …read more […]

Aurora Cannabis Inc. (ACB) on Tuesday announced plans to cut jobs and close five of its plants as it grapples with the financial impact of the coronavirus pandemic on the cannabis industry.The Canadian cannabis producer said it is reducing its selling, general and administrative (SG&A) staff by 25% and will cut 30% of its production workforce over the next two quarters. In addition, five of Aurora’s plants will be shut down so that production and manufacturing can focus on the company’s larger scale and highly efficient sites, it said.”With today’s announcement we have achieved our stated SG&A run-rate target and …read more […]

(Bloomberg) — Apple Inc. looks like an attractive investment no matter which aspect of the business you examine, according to analysts who are growing steadily more optimistic about the stock’s prospects.At least a dozen Wall Street firms have raised their Apple price targets this month alone, lifting the average to nearly $343, up from $305 at the end of April. UBS, Deutsche Bank, Bernstein, Citi, BofA and Morgan Stanley are all among the firms turning more positive, although the higher average still implies downside of more than 7% from current levels.Shares of Apple rose 3.3% on Tuesday, hitting an intraday …read more […]

Fitz-Gerald Group Chief Investment Officer Keith Fitz-Gerald joins Yahoo Finance’s Akiko Fujita to break down the latest market action after President Trump says the trade deal with China is “intact” following an aide stating it was over. …read more […]

Spirit Aerosystems Holdings is asking lenders for financial support …read more […]

Wall Street’s top money managers are scratching their heads. How did mom-and-pop investors get the market so right?
Today, Nicholas Vardy looks at why the “dumb money” has been much more successful at investing after the coronavirus crash.

“Markets have rarely been so transparently stupid.”
– Bryce Elder, Financial Times, June 12
The financial media is exasperated. Market pundits are frustrated. Wall Street’s top money managers are scratching their heads.
The behavior of financial markets does not seem to make sense.
Unemployment in the United States stands at record highs.
The threat of a second wave of COVID-19 seems ever more real.
Social unrest is tearing the seams …read more […]

The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]

The stock market continues to surge. Here are some unstoppable stocks from veteran market minds. …read more […]

The Canadian pot producer said it has cut its selling, general and administrative (SG&A) workforce by 25% and will lay off 30% of its production staff over the next two quarters. A slow roll out of retail stores, the prevalence of illicit markets and burgeoning supply from producers racing to assert dominance have led to steep price declines and unsold pot stacking up. Aurora said it expects SG&A expenses to be around C$42 million in the first quarter of fiscal 2021, compared with C$75.1 million, excluding severance costs, recorded in the third quarter. …read more […]

It’s no surprise president Trump rushed to clarify comments by an advisor on the status of the U.S.-China trade deal. …read more […]