"Such bullshit," Donald Trump Jr. wrote on X, before publishing more posts, criticizing the verdict and baselessly painting the trial as an attempt to interfere with the 2024 election.
This case was rigged from the start. Remember, the same hacks in the media demanding Justice Alito recuse himself because of a flag, have zero problem with the corrupt judge in this case being a donor to Joe Biden or his daughter making millions from Democrats!#RiggedSystemhttps://t.co/VwimHP5iNd
Eric Trump, the middle son who was Trump's only family member present in the courtroom, also wrote on X that the date of the verdict may be remembered as the day his father won the election.
May 30th, 2024 might be remembered as the day Donald J. Trump won the 2024 Presidential Election.
"This was never a case about prosecuting an actual crime," Lara Trump told reporters. "This is a case about politics, pure and simple."
As of Friday evening, Trump's wife, Melania, as well as his daughter, Ivanka Trump, and her husband, Jared Kushner, had not released public statements on the outcome of the trial.
Kimberly Guilfoyle, Trump Jr.'s fiancée, lent public support to the former president, writing on X that "the only verdict that matters is at the ballot box on November 5th."
Only one member of Trump's family lauded the guilty verdict: Trump's niece, Mary L. Trump.
"This scumbag finally got what was coming to him," she said in a YouTube live stream, "granted in a very limited way."
Michael Cohen en route to testify against Donald Trump.
AP/Julia Nikhinson
Micheal Cohen reacted to a jury finding Donald Trump guilty of 34 counts of falsifying business records.
The former Trump fixer testified as the prosecution's star witness.
Cohen said the journey was difficult for him and his family.
Michael Cohen on Thursday celebrated Donald Trump's unprecedented criminal conviction after a Manhattan jury found the former president guilty of 34 counts of falsifying business records.
Cohen, Trump's former longtime personal lawyer and fixer, was the prosecution's star witness in the five-week hush-money trial, which focused on Trump's efforts to cover up a $130,000 hush-money payment to adult film actor Stormy Daniels just 11 days before the 2016 election.
"Today is an important day for accountability and the rule of law," Cohen told BI. "While it has been a difficult journey for me and my family, the truth always matters."
Cohen also thanked his attorneys for their "invaluable guidance and support" throughout the legal process.
In court, Cohen testified that Trump directed him to make the payment to Daniels — for her silence over a sexual encounter the adult entertainment star says she had with Trump in 2006 during a celebrity golf tournament — ahead of the 2016 election and then repaid him with several checks in 2017 after he was already in office.
Trump has repeatedly denied the affair.
Trump's legal team spent much of their defense time attacking Cohen's credibility, but legal experts told BI that Cohen was ultimately a witness that the defense couldn't rattle.
Cohen is also a convicted felon. He pleaded guilty in 2018 to campaign finance violations, tax fraud, and bank fraud. Cohen spent more than two years in prison.
The first ASX income share that analysts think investors should be buying is Deterra Royalties.
It is focused on the management and growth of a portfolio of royalty assets across a range of commodities, primarily bulks, base, and battery metals. Its portfolio includes royalties held over Mining Area C, its cornerstone asset, in the Pilbara region of Western Australia, as well as five smaller royalties including Yoongarillup/Yalyalup, Wonnerup, Eneabba and St Ives.
Morgan Stanley is positive on the company and believes its portfolio has positioned it to reward shareholders with some big dividends in the near term.
For example, it is forecasting fully franked dividends per share of 32.7 cents in FY 2024 and then 39 cents in FY 2025. Based on the current Deterra Royalties share price of $4.54, this will mean sizeable dividend yields of 7.2% and 8.6%, respectively.
Morgan Stanley currently has an overweight rating and $5.60 price target on its shares. This implies potential upside of 23% for investors.
Another ASX income share that analysts think could be a buy for investors right now is Inghams.
It is one of the largest integrated protein producers across Australia and New Zealand, providing chicken, turkey, and plantâbased protein products.
Morgans thinks investors should invest in Inghams while its shares are cheap. The broker notes that “ING remains undervalued trading on a low PE multiple, especially for what is a market leader, with a vertically integrated operating model and assets that are difficult and costly to replicate.”
Another positive is that its analysts are forecasting some big dividend yields in the near term. They expect the company to be in a position to pay fully franked dividends of 22 cents per share in FY 2024 and then 23 cents per share in FY 2025. Based on the current Inghams share price of $3.47, this equates to dividend yields of 6.3% and 6.6%, respectively.
Morgans has an add rating and $4.40 price target on its shares. This suggests that upside of 27% is possible over the next 12 months.
Should you invest $1,000 in Deterra Royalties Limited right now?
Before you buy Deterra Royalties Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Deterra Royalties Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Earnings season is traditionally in February and August. However, not all ASX 200 stocks operate with the standard financial calendar.
As a result, this month there have been a number of result releases from popular companies.
The team at Wilsons has been running the rule over these updates and has given its verdict on them and their shares. Let’s see what the broker is saying about three stocks:
Wilsons was impressed with this gaming technology company’s performance during the first half of FY 2024. It said:
Aristocrat’s (ALL) 1H24 result was an impressive, double-digit beat to consensus earnings expectations, which demonstrated the quality of the business underpinned by its ability to consistently gain market share.
And with management speaking positively about the ASX 200 stock’s outlook, Wilsons thinks that its shares could still be cheap. It adds:
ALL is still ‘cheap’ despite its recent rally with the company trading on a forward PE of ~18x. This multiple is attractive given ALL’s competitive strengths and the long runway for double-digit EPS growth, underpinned by continued share gains in land-based gaming and the accelerating performance of Aristocrat Interactive within the fast-growing real money gaming industry.
Another ASX 200 stock that impressed the broker this month was online travel agent Webjet.
While it was pleased with its performance in FY 2024, the thing that really caught its eye was its plan to demerge the WebBeds business. It said:
WEB reported FY24 full year EBITDA growth of +40% to $188m, which was towards the top-end of the company’s $180-190m guidance range and broadly in line with expectations. The major news however was WEB’s plans to demerge its B2B (WebBeds) and B2C segments (principally Webjet.com.au) into two separately ASX-listed companies in FY25.
Wilsons believes that the market is undervaluing the WebBeds business and appears to believe that the demerger will unlock this value. It explains:
To estimate the current ‘implied’ market valuation of WebBeds, we have conducted a sum-of-the-parts analysis of the combined WEB group. Our analysis assumes that Webjet OTA will trade on an FY25e EV/EBITDA multiple of ~8.6x â directly in line with the global peer average. Presuming this is accurate, WEB’s headline market multiple of ~13x implies WebBeds is valued at an implied FY25 EV/EBITDA multiple of ~15x â well below the average comp multiple of ~26x. This suggests that WebBeds is undervalued by the market in the current group structure. As such, we are confident that the proposed demerger, if successful, is likely to drive a re-rate of WebBeds valuation multiple (and thus WEB’s sum-of-the parts multiple), unlocking ‘hidden value’ for WEB shareholders.
Finally, this cloud accounting platform provider is another ASX 200 stock that impressed this month with its results. It commented:
Xero’s (XRO) FY24 result was an impressive beat to consensus expectations, which has strengthened our conviction in our investment thesis. In the result, XRO showcased its ability to balance top line growth with profitability following recent cost outs. Notably, the company achieved its ‘rule of 40’ target several years earlier than expected by the street, with revenue growth of +22% and a free cash flow margin of 20%.
Based on this performance and its positive long term growth outlook, the broker feels that Xero’s shares are attractively priced. Particularly given its potential to outperform consensus estimates. It adds:
In summary, we expect continued double-digit subscriber growth, combined with price increases and a leaner cost base, to underpin significant long-term earnings growth that is not fully appreciated by the market in our view. Therefore, despite XRO’s high forward PE multiple of ~78x, the company still offers attractive value at current levels considering consensus EPS growth of ~34% p.a. (CAGR) to FY30 with potential for upgrades on top of this.
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Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
You don’t just have to buy houses to invest in real estate.
You can also do it by buying ASX real estate shares or real estate investment trusts (REITs).
The good news is that the Australian share market is home to a number of quality options that give investors access to all corners of the property market.
But which ASX real estate shares could be top options? Listed below are two that analysts rate among their best ideas. They are as follows:
Morgans currently has Cedar Woods Properties on its best ideas list. It is a leading, national developer of residential communities and commercial developments.
The broker believes the ASX real estate share is well-positioned in the current environment due to its lower priced stock. It explains:
CWP is a volume business and the demand for lots looks to be improving, with margins to invariably follow. CWP’s exposure to lower priced stock in higher growth markets sees further potential to drive earnings. On this basis, we see every reason for CWP to trade at NTA and potentially at a premium, were the housing cycle to gain steam through FY25/26.
Morgans currently has an add rating and $5.60 price target on its shares. Based on its current share price of $4.36, this implies potential upside of 28% for investors from current levels.
Another positive is that the broker expects Cedar Woods Properties to provide investors with attractive dividend yields in the near term. It is forecasting dividends per share of 18 cents in FY 2024 and 20 cents in FY 2025. This equates to yields of 4.1% and 4.6%, respectively.
Another ASX real estate share that could be a top option for investors is the Healthco Healthcare and Wellness REIT.
It is Australia’s largest diversified healthcare REIT with a portfolio including investments in hospitals, aged care, childcare, government, life sciences, and primary care and wellness property assets.
Bell Potter is very positive on the company’s long term outlook and feels its shares are too cheap at present. It said:
HCW has underperformed the REIT sector last 3 months following bond yield reversion and is attractively priced at 20% discount to NTA (but only REIT to record flat to positive valuation movement at 1H24) with double digit 3 year EPS CAGR given high relative sector debt hedging and ability to grow its $1bn development pipeline via attractive YoC spread to marginal cost of debt. Longer term, HCW has significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand.
Bell Potter has a buy rating and $1.50 price target on its shares. Based on its current share price of $1.14, this implies potential upside of 31% for investors. In addition, it is forecasting dividend yields of 7% in FY 2024 and 7.3% in FY 2025.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
A Manhattan jury found Donald Trump guilty of falsifying business records to cover up a hush money payment to Stormy Daniels, making him the first US president to be convicted of a felony.
Helen Toner and Tasha McCauley left OpenAI when Sam Altman returned as CEO.
Microsoft
Two former OpenAI board members warned about CEO Sam Altman and AI safety in an op-ed in The Economist.
Two current board members wrote a response pushing back on the concerns.
The current members pointed to OpenAI's new safety committee and Altman's support for regulation.
This has been the week of dueling op-eds from former and current OpenAI board members.
Current OpenAI board members Bret Taylor and Larry Summers issued a response to AI safety concerns on Thursday, stating that "the board is taking commensurate steps to ensure safety and security."
The response comes a few days after The Economist published an op-ed by former OpenAI board members Helen Toner and Tasha McCauley, who criticized CEO Sam Altman and OpenAI's safety practices while calling for a need to regulate AI. The title of the piece argued that "AI firms mustn't govern themselves."
Taylor and Summers, the two current members, pushed back against the former directors' claims in a response that was also published in The Economist. They defended Altman and discussed OpenAI's stance on safety, including the company's formation of a new safety committee and a set of voluntary commitments OpenAI made to the White House to reinforce safety and security.
The pair said that they had previously chaired a special committee as part of the newly established board and set up an external review by law firm WilmerHale of the events leading to Altman's ousting. The process entailed reviewing 30,000 documents, along with dozens of interviews with OpenAI's previous board, executives, and other relevant witnesses, they added.
Taylor and Summers reiterated that WilmerHale concluded that Altman's ousting "did not arise out of concerns regarding product safety or security" or "the pace of development."
They also took issue with the op-ed's characterization that Altman had created "a toxic culture of lying" and engaging in psychologically abusive behavior. In the last six months, the two current board members said they had found Altman "highly forthcoming on all relevant issues and consistently collegial with his management team."
In an interview published the same day as her op-ed, Toner explained why the former board previously decided to remove Altman, saying that he lied to them "multiple times" and withheld information. She also said that the old OpenAI board found out about ChatGPT's release on Twitter.
"Although perhaps difficult to remember now, Openai released Chatgpt in November 2022 as a research project to learn more about how useful its models are in conversational settings," Taylor and Summers wrote in response. "It was built on gpt-3.5, an existing ai model which had already been available for more than eight months at the time."
Toner did not respond to a request for comment ahead of publication. OpenAI did not respond to a request for comment.
OpenAI supports "effective regulation of artificial general intelligence" and Altman, who was reinstated only days after his ousting, has "implored" lawmakers to regulate AI, the two current board directors added.
At the World Government Summit in February, Altman suggested a "regulatory sandbox" where people could experiment with the technology and write regulations around what "went really wrong" and what went "really right."
OpenAI has seen multiple high-profile departures in recent weeks, including machine learning researcher Jan Leike, chief scientist Ilya Sutskever, and policy researcher Gretchen Krueger. Both Leike and Krueger vocalized safety concerns following their departures.
Leike and Sutskever, who is also a cofounder of OpenAI, were the co-leads of the company's superalignment team. The team was tasked with researching the long-term risks of AI, including the chance it could go "rogue."
OpenAI dissolved the superalignment safety team before later announcing the formation of a new safety committee.
Nothing reassures an investor quite as much as an insider buying amid a sell-off, especially when the ASX 200 stock plunges 30% in less than six months. If they can see a reason to buy, maybe there’s still a point in sticking with it.
Shares in Eagers Automotive Ltd (ASX: APE) have hit a couple of speed bumps this year. At the end of Thursday’s trading, the automotive retailer traded at $10.13 per share — within sneezing distance of its recently set 52-week low of $9.87.
However, shareholders may find solace in a rich lister’s seemingly insatiable appetite for Eagers.
Billionaire not stopping ’til he gets enough
While others might be losing hope, Nick Politis — Eagers’ non-executive director and Sydney Roosters chair — is reaching deep into his pockets.
According to today’s ASX notice, Politis feathered his nest by buying another 100,000 shares in the ASX 200 company. The buy was filled through an on-market trade on Tuesday, giving the wealthy businessman a grand sum of 72,819,048 pieces of the Eagers Automotive pie.
However, this is not Politis’ first time pulling out the chequebook in May. As my colleague Sebastian Bowen noted last week, the board member made two earlier purchases this month. The first purchase occurred on 9 May, nabbing 50,000 shares. The second investment captured 200,000 shares on 22 May.
The non-executive director’s stake is now worth $734.74 million.
Politis is visibly undeterred by the disclosure of profit-squeezing factors in Eagers’ recent trading update.
Perhaps the rich-lister sees it as a symptom of the economy and not a problem with the company itself. After all, fellow ASX-listed Peter Warren Automotive Holdings Ltd (ASX: PWR) described similarly difficult conditions in a release six days later.
Is this ASX 200 stock a misplaced buy?
Politis, and no doubt other buyers of Eagers, are likely banking on better times beyond the short term. If they’re right, the current share price could look like a decent deal.
However, Eagers Automotive still trades at a forward premium to some of its peers. For example, Peter Warren Automotive, Autosports Group Ltd (ASX: ASG), and MotoCycle Holdings (ASX: MTO) all trade at a 20% to 38% forward discount relative to Eagers.
Maybe being the biggest demands a premium over its competitors.
Nevertheless, Politis appears to be in it for the long haul, holding a 27% stake.
Should you invest $1,000 in Eagers Automotive Ltd right now?
Before you buy Eagers Automotive Ltd shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Eagers Automotive Ltd wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This sports betting company has been given the thumbs up by analysts at Bell Potter.
It thinks Pointsbet could be an ASX penny stock to buy based on its current valuation. The broker feels that the market is undervaluing its operations and sees it as a potential takeover target for a bigger player. It explains:
We determine our price target for PointsBet through a sum-of-the-parts (SOTP) and there is no change in the $0.63 valuation. The components of this valuation are $150m for the Australian business ($0.46/share), $25m for the Canadian business ($0.08/share) and $30m in corporate cash ($0.09/share). We note we ascribe no value for the Banach technology which PointsBet can continue to use for in-play betting in Canada and, to a lesser extent, Australia. We also believe PointsBet is a potential takeover target given its market position (fifth largest in Australia), simplified structure (Australia and Canada), proprietary technology and good Balance Sheet.
Bell Potter has a buy rating and 63 cents price target on its shares. Based on its current share price of 50.5 cents, this implies potential upside of 25% for investors over the next 12 months.
Another ASX penny stock to look at according to Bell Potter is PYC Therapeutics. It is clinical-stage biotechnology company developing multiple drug candidates for rare inherited diseases.
The broker highlights that PYC recently reported highly encouraging first clinical data for its lead drug candidate, VP-001, in patients with a rare form of blinding eye disease. It feels that the positive readout provides significant validation for the individual asset and broader PYC platform. It also feels that successful readouts in other phase 1/2 trials would provide considerable de-risking.
In light of this, this month Bell Potter initiated coverage on the ASX penny stock with a speculative buy rating and 17 cents price target. This implies potential upside of 70% for investors from current levels. The broker commented:
We initiate coverage of PYC with a speculative BUY recommendation and $0.17 valuation. Pro-forma cash balance was ~$84m as at 31 March 2024, providing runway into 2H CY25 to achieve the above-mentioned Phase 1/2 clinical trial readouts. PYC have multiple shots on goal with three highly promising drug candidates for rare diseases. We also see value in the company’s internal platform and potential to continually generate differentiated RNA therapeutics for inherited diseases.
Should you invest $1,000 in Pointsbet Holdings Limited right now?
Before you buy Pointsbet Holdings Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pointsbet Holdings Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PointsBet. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Biden and Trump both said it call comes down to who Americans vote for in November.
Andrew Harnik/Getty Images; Justin Lane-Pool/Getty Images
Trump was found guilty of falsifying business records related to a hush-money payment.
The verdict made Trump the first-ever US president to also be a convicted felon.
Still, both Biden and Trump said it all comes down to the 2024 presidential election.
President Joe Biden and former President Donald Trump agree on at least one thing: it all comes down to the November election.
Trump on Thursday became the first-ever former US president to become a felon when a New York jury found him guilty on 34 counts of falsifying business records related to a hush-money payment made to Stormy Daniels.
"This was a disgrace. This was a rigged trial by a conflicted judge that was corrupt," Trump told reporters outside the Manhattan courtroom, adding that the "real verdict is going to be November 5 by the people."
Biden seemed to agree that despite the guilty verdict, the only way to stop his 2024 challenger was by voting.
"There's only one way to keep Donald Trump out of the Oval Office: At the ballot box," Biden said in a post on X shortly after the conviction.
A statement from the Biden campaign reiterated that message, adding, "Today's verdict does not change the fact that the American people face a simple reality."
"Convicted felon or not, Trump will be the Republican nominee for president," the campaign said.
Legal experts previously told Business Insider that even if Trump did get convicted of the hush-money felonies, the odds he would actually go to jail were slim to none.
