Stock Pick

  • 5 things to watch on the ASX 200 on Wednesday

    man with head in hands after looking at stock market crash on computer, asx 200 share market crash

    On Tuesday the S&P/ASX 200 Index (ASX: XJO) gave back some strong gains to end the day roughly flat at 6,012.9 points.

    Will the market be able to better this on Wednesday? Here are five things to watch

    ASX 200 expected to drop lower.

    The ASX 200 looks set to drop lower on Wednesday after a disappointing night on Wall Street. According to the latest SPI futures, the benchmark index is expected to open the day 28 points or 0.5% lower this morning. On Wall Street the Dow Jones fell 1.55%, the S&P 500 dropped 1.1%, and the Nasdaq tumbled 0.85%. This follows news that Texas has reported over 10,000 new coronavirus cases.

    Afterpay to return.

    The Afterpay Ltd (ASX: APT) share price is expected to return from its trading halt on Wednesday. The payments company requested the halt on Tuesday while it sought to raise $800 million from investors. This capital raising comprises a $650 million fully underwritten placement to institutional investors and a $150 million share purchase plan. Afterpay intends to raise the funds at $61.75 per new share, which represents a 9.2% discount to its last close price. The company also released a very strong trading update.

    Oil prices slide.

    Energy producers including Oil Search Limited (ASX: OSH) and Santos Ltd (ASX: STO) could come under pressure today after a weak night of trade for oil prices. According to Bloomberg, the WTI crude oil price is down 0.55% to US$40.41 a barrel and the Brent crude oil price is down 0.5% to US$42.87 a barrel. Rising coronavirus cases has sparked concerns that demand could soften.

    Gold price jumps.

    Gold miners including Evolution Mining Ltd (ASX: EVN) and St Barbara Ltd (ASX: SBM) could push higher today after the gold price jumped overnight. According to CNBC, the spot gold price stormed 0.8% to US$1,807.70 an ounce after a spike in coronavirus cases spooked markets.

    Rio Tinto downgraded.

    The Rio Tinto Limited (ASX: RIO) share price will be on watch on Wednesday after analysts at Goldman Sachs downgraded the mining giant to a neutral rating with a $95.10 price target. According to the note, the broker believes Rio Tinto’s shares are fully valued at the current level. In addition to this, it believes the iron ore price could fall to US$80 to US$85 per tonne during the second half of the year.   

    Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.

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  • Were Hedge Funds Right About PG&E Corporation (PCG) ?

    Were Hedge Funds Right About PG&E Corporation (PCG) ?We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]

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  • Facebook Scorned by Civil Rights Groups After Zuckerberg Meeting

    Facebook Scorned by Civil Rights Groups After Zuckerberg Meeting(Bloomberg) — Civil rights organizations criticized Facebook Inc. following a meeting with the company’s top executives Tuesday, claiming the company hasn’t taken seriously demands to better police its service from hate speech and misinformation.“Facebook approached our meeting today like it was nothing more than a PR exercise,” Jessica González, co-chief executive officer of Free Press, a non-profit media advocacy group, said in a statement following the meeting. “I’m deeply disappointed that Facebook still refuses to hold itself accountable to its users, its advertisers and society at large.”Facebook Chief Executive Officer Mark Zuckerberg and Chief Operating Officer Sheryl Sandberg met with a group of civil rights leaders who have organized a boycott of the company’s advertising products. The executives didn’t “commit to a timeline” to remove disinformation and hate speech, Gonzalez said, but instead “delivered the same old talking points to try to placate us without meeting our demands.”“The meeting we just left was a disappointment,” said Rashad Robinson, president of advocacy group Color of Change, on a call with reporters following the meeting.Facebook didn’t immediately respond to a request for comment.The social-media platform has defended its efforts to fight hate speech and voter suppression in emails and phone calls with advertisers, talking up the company’s automated systems which find and remove these kinds of posts automatically. Facebook has also highlighted a voter registration initiative, through which it hopes to register 4 million voters before the 2020 election.Members of the National Association for the Advancement of Colored People, the Anti-Defamation League and Color of Change were offered the meeting with the Facebook executives nearly three weeks after they sparked an advertising boycott of the social media giant that has grown to include hundreds of companies.The meeting was intended to be a forum to discuss proposed solutions to the groups’ complaints that Facebook doesn’t do enough to fight hate speech and misinformation on its services. The groups are calling on Facebook to add executives with civil rights experience to its top ranks and to fact-check political speech, among other changes.“Today we saw little and heard just about nothing,” said Jonathan Greenblatt, CEO of the Anti-defamation League, who was in the meeting. “The company is functionally flawed.”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.

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  • How a Democratic victory in November may impact the stock market

    How a Democratic victory in November may impact the stock marketBen Phillips, EventShares CIO, joins The Final Round to discuss his thoughts on the markets and how a Biden presidency could impact the economy’s recovery from the coronavirus induced crisis.

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  • Were Hedge Funds Right About Warming Up To The Blackstone Group Inc. (BX)

    Were Hedge Funds Right About Warming Up To The Blackstone Group Inc. (BX)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 […]

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  • Calculating The Intrinsic Value Of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

    Calculating The Intrinsic Value Of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)Does the July share price for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) reflect what it's really worth? Today…

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  • Were Hedge Funds Right About Broadcom Inc (AVGO)?

    Were Hedge Funds Right About Broadcom Inc (AVGO)?The latest 13F reporting period has come and gone, and 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 filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]

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  • Were Hedge Funds Right About Lockheed Martin Corporation (LMT)?

    Were Hedge Funds Right About Lockheed Martin Corporation (LMT)?At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […]

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  • Why NAB and Telstra shares could be top options for income investors

    telstra shares

    On Tuesday the Reserve Bank of Australia decided against taking the cash rate to zero and kept it on hold at 0.25%.

    While this was a small win for savers and income investors, it doesn’t change the fact that the interest rates on offer with savings accounts and term deposits are at ultra-low levels.

    The good news is that you can beat these low rates by investing in ASX dividend shares. But which ones? Here are two top ASX dividend shares I would buy:

    National Australia Bank Ltd (ASX: NAB)

    If you have space in your portfolio for a bank share, then I think NAB could be worth considering. While it has certainly been a tough year for the banking giant, I believe the selling of its shares has been overdone and left them trading at an attractive level.

    This is certainly the case for income investors, given the generous yield on offer with its shares. Based on the latest NAB share price, I estimate that it provides investors with a fully franked 5.2% FY 2021 dividend yield.

    Telstra Corporation Ltd (ASX: TLS)

    A final dividend share for income investors to consider buying is Telstra. I’ve been impressed with the progress of its T22 strategy and believe it will make Telstra a much stronger company in the future. In addition to this, it is worth noting that the NBN rollout is nearing completion. This means it may not be too long before this earnings headwinds eases and the company returns to growth again.

    As a result, I think now would be a good time to consider a patient investment in its shares. Based on the current Telstra share price and my belief that its 16 cents per share dividend is sustainable for the foreseeable future, the telco giant currently offers a 4.7% fully franked dividend yield.

    Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

    See The 5 Stocks

    *Returns as of June 30th

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. 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 Why NAB and Telstra shares could be top options for income investors appeared first on Motley Fool Australia.

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  • Were Hedge Funds Right About Selling The Boeing Company (BA)?

    Were Hedge Funds Right About Selling The Boeing Company (BA)?The latest 13F reporting period has come and gone, and 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 filings show the funds' and investors' portfolio positions as of March 31st, a week after the market trough. Now, we are […]

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