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Hedge Funds Cashed Out Of Akoustis Technologies, Inc. (AKTS)
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5 things to watch on the ASX 200 on Thursday
On Wednesday the S&P/ASX 200 Index (ASX: XJO) fought hard but fell just short at the close. The benchmark index dropped 5 points to 5,775 points.
Will the market be able to bounce back from this on Thursday? Here are five things to watch:
ASX 200 expected to storm higher.
It looks set to be a very good day of trade for the ASX 200. According to the latest SPI futures, the benchmark index is expected to open the day 51 points or 0.9% higher this morning. This follows a great night of trade on Wall Street which saw the Dow Jones rise 2.2%, the S&P 500 climb 1.5%, and the Nasdaq push 0.8% higher.
Oil prices crash lower.
Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could come under pressure after oil prices crashed lower. According to Bloomberg, the WTI crude oil price fell 6.8% to US$32.00 a barrel and the Brent crude oil price dropped 5.8% to US$34.08 a barrel. Concerns over U.S.-China trade tensions weighed on prices.
Gold price edges higher.
Gold miners such as Northern Star Resources Ltd (ASX: NST) and St Barbara Ltd (ASX: SBM) will be on watch after a subdued night for the gold price. According to CNBC, the spot gold price is up slightly to US$1,711.00 an ounce. The precious metal fell to a two-week low on Wednesday.
PolyNovo insider sale.
The PolyNovo Ltd (ASX: PNV) share price could come under pressure today after it revealed that one of its directors has been selling shares. Non-Executive Director Dr David McQuillan sold 441,687 shares on market on Wednesday for approximately $1.18 million. The director made the share sale to fund the purchase of property ahead of his move from the United States to Melbourne. Dr McQuillan still holds 770,317 PolyNovo shares.
Blackmores shares to return.
The Blackmores Limited (ASX: BKL) share price will be on watch when it returns from its trading halt this morning. Blackmores requested the trading halt while it undertook a capital raising to raise up to $117 million. This comprises a fully underwritten $92 million institutional placement and a non-underwritten share purchase plan of up to $25 million. The company also provided a trading update which revealed that it was on track to achieve its guidance in FY 2020.
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More reading
- Where next for the PolyNovo share price?
- ASX 200 edges down, bank share prices fly
- Is the Ampol share price in the buy zone?
- New to investing? Put $500 into these top ASX 200 shares
- Top broker says this ASX stock is a better buy than Afterpay
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores 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.
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HP Inc. misses on Q2 revenue estimates despite work-from-home demand
On Wednesday, computing giant HP reported mixed second-quarter results. Total revenue came in at $12.5 billion, compared to $12.86 billion expected, and earnings per share topped estimates ($0.51 vs. $045 expected). Meanwhile, sales at HP’s personal systems and and printing segments dropped 7% and 19%, respectively, from the prior year. Yahoo Finance’s Myles Udland breaks down the company’s report. from Yahoo Finance https://ift.tt/36B661B
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2 ASX shares to buy and hold for monster returns in the 2020s
One sure-fire way to generate wealth in the share market is by investing successfully in quality companies for long periods.
Take for example, property listings company REA Group Limited (ASX: REA).
If you had invested $10,000 into its shares 10 years ago, your investment would be worth $105,000 today.
But success is by no means guaranteed when you invest. Though, I believe you can put the odds in your favour by investing wisely.
Which shares would be good buy and hold options? I believe the two top ASX shares listed below could help you grow your wealth in the 2020s. Here’s why I like them:
Bravura Solutions Ltd (ASX: BVS)
One area of the market which I think has strong growth potential is the financial technology industry. One of my favourite options in this industry is Bravura Solutions, which is a provider of software products and services to financial institutions. These include major institutions such as BNP Paribas, Fidelity, and Mercer.
The key product that appears to be attracting these giants to Bravura Solutions is its Sonata wealth management platform. It allows users to connect and engage with clients anytime, anywhere, through computers, tablets, or smartphones. It also simplifies legacy client systems into one unified customer-centric solution. I believe Sonata and recent bolt on acquisitions leave the company well-placed to deliver strong earnings growth over the next decade.
ResMed Inc. (ASX: RMD)
ResMed has been a very strong performer over the last 10 years, but I believe it could do it all again in the 2020s. This is because the sleep treatment focused medical device company has a massive and growing market opportunity due to the proliferation of obstructive sleep apnoea.
Given the quality of its mask products and software solutions, I believe it will capture a growing slice of this market over the next decade. This should drive solid earnings growth and potentially market beating returns for investors.
And here are more top shares to consider. All five recommendations below look dirt cheap after the crash…
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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…
Another is a diversified conglomerate trading over 40% off it’s high, all while offering a fully franked dividend yield over 3%…
Plus 3 more cheap bets that could position you to profit over the next 12 months!
See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.
More reading
- Got $1,000 to invest? These quality ASX shares could be the ones to buy
- Invest like Warren Buffett and buy these ASX 200 shares
- Which is the best ASX entertainment media share?
- Where to invest $20,000 into ASX shares right now
- Is the REA Group share price a buy?
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd, REA Group Limited, and ResMed Inc. 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 2 ASX shares to buy and hold for monster returns in the 2020s appeared first on Motley Fool Australia.
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Sorrento Takes Another Leap Forward with Recent FDA Clearance, Says Top Analyst
And the W’s just keep on coming for Sorrento Therapeutics (SRNE). Reflecting a major step forward in the advancement of its candidate, STI-6129, a CD38-targeting antibody-drug conjugate (ADC), the company received the all-clear from the FDA to submit an Investigational New Drug (IND) application.Part of the excitement surrounding this announcement is related to the design of the asset itself. STI-6129 was created using SRNE’s unique technology that includes a CD38-specific antibody identified from its fully human G-MAB antibody library, its patented drug payload Duostatin 5 and its site-specific CLOCK conjugation technology.On top of this, the company wants to kick off a Phase 1 multi-center, open-label, dose-escalation clinical trial in patients with advanced relapsed and/or refractory systemic amyloid light chain (AL) amyloidosis, with the primary goal being the identification of a Phase 2 dose for STI-6129.Commenting on the development for H.C. Wainwright, five-star analyst Raghuram Selvaraju thinks the asset “could constitute a next-generation approach to treatment of AL amyloidosis.”“The prospects for a CD38-targeted approach in this indication appear buttressed by data from a prospective Phase 2 trial of daratumumab, a well-known fully human monoclonal anti-CD38 antibody agent that is already commercially available for the treatment of multiple myeloma (MM) under the trade name DARZALEX… Renal response occurred in 10 of 15 patients (67%) with renal involvement and cardiac response occurred in seven out of 14 patients (50%) with cardiac involvement. In our view, these data bode well for the deployment of an anti-CD38 agent in AL amyloidosis,” Selvaraju added.As approximately 20,000 people are affected by AL amyloidosis in the U.S. alone, the indication represents a niche opportunity for SRNE. With the clinical benefit produced using daratumumab to treat AL amyloidosis serving as a partial proof-of-concept for STI-6129, it’s no wonder the news is promising, in Selvaraju’s opinion.Even though Selvaraju tells clients that the candidate has not been built into his models, he believes the announcement demonstrates “the steadily growing depth and breadth of Sorrento's pipeline.”Based on all of the above, Selvaraju stayed with the bulls. Along with a Buy rating, he kept a $24 price target on the stock. This indicates upside potential of a whopping 369%. (To watch Selvaraju’s track record, click here) What does the rest of the Street think about SRNE’s long-term growth prospects? It has been relatively quiet when it comes to analyst activity, with the stock receiving only one other Buy rating in the last three months. This makes the consensus rating a Moderate Buy. In addition, the $24 average price target matches Selvaraju’s. (See Sorrento stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
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Hedge Funds Are Cashing Out Of Twilio Inc. (TWLO)
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds' and successful investors' positions as of the end of the first quarter. You can find articles about an individual hedge fund's trades on numerous financial […]
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HP crushes earnings estimates on work-from-home PC demand — top exec says ‘we are undervalued’
Yahoo Finance catches up with HP's CEO Enrique Lores fresh off its second fiscal quarter earnings report.
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Countdown to SpaceX launch as astronauts board Crew Dragon capsule
SpaceX is slated to launch its first passengers into space Wednesday afternoon. Jim Cantrell, who was part of the founding team at SpaceX and currently the CEO and President of Phantom Space Corp, joins Yahoo FInance’s Zack Guzman to discuss.from Yahoo Finance https://ift.tt/2ZDD0xk
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Homebuying surges as mortgage rates and home prices plummet
Mortgage applications from homebuyers spike, thanks to cheaper homes and mortgage rates.
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Hedge Funds Cashing Out Of Applied Materials, Inc. (AMAT)
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 (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each […]
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