Stock Pick

  • Andrew Ross Sorkin, Joe Kernen Get Into Heated On-Air Argument Over Coronavirus, Trump

    Andrew Ross Sorkin, Joe Kernen Get Into Heated On-Air Argument Over Coronavirus, TrumpThe coronavirus stress may have gotten to Andrew Ross Sorkin and Joe Kernen on CNBC's "Squawk Box" on Wednesday. In many ways, the argument between Sorkin and Kernen reflects nationwide polarization over just how aggressive the U.S. should have been in combating COVID-19.What HappenedThe argument broke out after Kernen suggested Sorkin has been overly pessimistic about COVID-19."You panicked about the market, panicked about COVID, panicked about the ventilators, panicked about the PPE, panicked about ever going out again, panicked if we'd ever get back to normal," Kernan said.Sorkin Fires BackSorkin responded by accusing Kernen of dismissing death tolls and risks associated with the coronavirus due to his allegiance to President Donald Trump."100,000 people died, Joe, and all you did was try to help your friend the president. That's what you did … Every single morning on this show you have used and abused your position, Joe," Sorkin said.> "I'm begging you to do the news, Joseph!" pic.twitter.com/DwVO5Ox5FJ> > — Rob Tornoe (@RobTornoe) May 27, 2020Kernen previously worked for 10 years as a stockbroker before joining CNBC in 1995. Sorkin is a financial columnist for the New York Times, author of the book "Too Big To Fail" and co-creator of the Showtime series "Billions.""That's totally unfair," Kernen said in response to Sorkin's accusations. "I'm trying to help investors keep their cool, keep their heads. And as it turns out, that's what they should have done."Benzinga's TakeIt's possible that both Sorkin and Kernen's arguments were valid, but they were addressing two different matters.Kernen is correct in that investors who didn't panic have made huge profits given the SPDR S&P 500 ETF Trust (NYSE: SPY) is up 34.2% since March 23. However, the COVID-19 US death toll is over 100,000 at this point, so the virus was and is certainly worth taking seriously.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:NYSE To Reopen Trading Floor On Limited Basis Why Stock Exchange Floor Closings Could Be Creating End-Of-Day VolatilitySee more from Benzinga * What The Yield Curve Is Saying About The Stock Market Rally * Fed Chair Powell To Congress: US Economic Downturn 'Without Modern Precedent' * 4 Reasons Investors Should Prepare For 'Liberal Landslide' In November(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    from Yahoo Finance https://ift.tt/2yIH18I

  • Where next for the PolyNovo share price?

    is it a buy

    The PolyNovo Ltd (ASX: PNV) share price has been one of the best performers on the S&P/ASX 200 Index (ASX: XJO) over the last 12 months.

    Since this time last year the medical device company’s shares have climbed a massive 120%.

    If we go even further back, the returns get even more impressive.

    Three years ago, PolyNovo’s shares were changing hands for 21 cents. Whereas today they are worth 12 times that at $2.60.

    Why has the PolyNovo share price been on fire?

    Investors have been buying the company’s shares due to the potential of its NovoSorb product, which was developed by CSIRO.

    NovoSorb is a dermal scaffold for the regeneration of the skin when lost through extensive surgery or burn.

    While this itself is a lucrative ~$1.5 billion market, the company is looking to extend the use of NovoSorb into the hernia device and breast augmentation markets. Combined, these three markets have an addressable opportunity worth an estimated $7.5 billion per year.

    If it can successfully penetrate these markets, then the sky could be the limit for its sales and ultimately its shares.

    But that hasn’t stopped one of its directors from cashing in some of his shares this week. On Wednesday Non-Executive Director Dr David McQuillan sold 441,687 shares on market for approximately $1.18 million.

    The company advised that the sale was made to fund the purchase of property ahead of Dr McQuillan’s move from the United States to Melbourne. Dr McQuillan still holds 770,317 PolyNovo shares.

    Should you be selling shares?

    While insider selling is rarely good news, the purpose of this sale seems more than reasonable. So, I wouldn’t be panicking just yet.

    Though, given that PolyNovo has a market capitalisation of $1.7 billion and first half sales of just $10.18 million, I also wouldn’t be opposed to taking some profit off the table.

    PolyNovo clearly has a massive market opportunity, but only time will tell whether it captures a sufficient slice that justifies its current valuation.

    Instead of PolyNovo, these dirt cheap shares might be the ones to buy right now…

    NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

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    One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

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    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

    The post Where next for the PolyNovo share price? appeared first on Motley Fool Australia.

    from Motley Fool Australia https://ift.tt/2TMvtZf

  • Workday tops Q1 expectations, lowers subscription revenue guidance

    Workday tops Q1 expectations, lowers subscription revenue guidanceOn Wednesday, Workday reported first-quarter results that topped estimates amid lowered expectations from the coronavirus lockdown. Total revenues came in at $1.02 billion, an increase of 23.4% from the first quarter of fiscal 2020. Yahoo Finance’s Myles Udland breaks down the company’s earnings report.

    from Yahoo Finance https://ift.tt/2TK2F3D

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