The FCC approved Amazon’s Project Kuiper, allowing the tech company to operate a constellation of 3,236 satellites. Yahoo Finance’s Dan Howley shares the details.
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Amazon earns FCC approval to launch $10B satellite project
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New Forecasts: Here’s What Analysts Think The Future Holds For Quidel Corporation (NASDAQ:QDEL)
Celebrations may be in order for Quidel Corporation (NASDAQ:QDEL) shareholders, with the analysts delivering a…
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This week in Trumponomics
The coronavirus recession began with the sharpest economic contraction on record—a 32.9% drop in second quarter GDP. Yahoo Finance’s Rick Newman joined The Final Round to discuss why he thinks the V-shaped recovery is gone and gives this week’s Trumpometer reading. from Yahoo Finance https://ift.tt/3fkeDJl
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Chevron CFO: We’re in a position to support our dividend
Chevron CFO Pierre Breber joins Yahoo Finance’s Julia La Roche to discuss the company’s latest quarterly earnings results after Chevron’s CEO noted COVID-19 has “significantly reduced demand.”from Yahoo Finance https://ift.tt/3fqgxrz
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July jobs report, Disney earnings and more: What to know in the week ahead
Earnings season continues this week with another packed calendar for quarterly results. Meanwhile, the July jobs report is set for release Friday.
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Analysts Say These 2 Stocks Are Their Top Picks for the Rest of 2020
There’s no denying it, 2020 has been a strange year. A viral outbreak rocked the world to its core, laying waste to the global economy. At the same time, amid violent bursts of volatility, stocks revved their engines and sped forward, seemingly brushing off all of the chaos unfolding in the background. Rebounding vigorously off of March lows, the S&P 500 has crossed over into positive territory for the year so far. Making it that much more difficult to predict the market’s trajectory, COVID-19 isn’t going away any time soon, with the virus making a reappearance in several parts of the world. As so many unknowns remain, finding compelling plays can feel like Mission Impossible. That being said, Wall Street analysts tell investors there are still some exciting opportunities to be found. Using TipRanks’ database, we’ve locked in on two such stocks, beloved by the pros that cover them, so much so that they have been deemed top picks for the remainder of 2020. The rest of the Street also backs both tickers, with each sporting a “Strong Buy” consensus rating. Truist Financial (TFC) With roughly $504 billion in assets, Truist Financial is one of the largest bank holding companies in the U.S., offering a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. As lower LLP is expected, several members of the Street have high hopes. Representing BMO Capital, four-star analyst Lana Chan tells clients “TFC remains our top pick among the Regionals given its PPNR strength and ACL coverage,” with it having “appropriately front-loaded the reserve build in 1H20 based on the current economic outlook.” To support her bullish stance, Chan cites management’s guidance for Q3. The company guided for a revenue decline of 3-5% from last quarter, with core noninterest expenses also set to be down. NCOs are expected to land within the range of 45-65 basis points, compared to 39 basis points in Q2. Reported NIM should also be relatively stable, following a larger-than-expected 45-basis point decline in Q2. This is because TFC has room to lower deposit costs and has instituted floors on new loans. “Noninterest income trends will be mixed with a partial rebound in deposit service charges and card income, but seasonally lower insurance and mortgage banking revenue and a tough comparison versus Q2's strength in capital markets,” Chan added. Adding to the good news, the company has placed a significant focus on achieving its net cost savings target of $1.6 billion by Q4 2022, with 40% slated to be achieved by Q4 2020 (vs. 30% previously) and 65% achieved by Q4 2021. To ramp up the cost reductions, TFC is trimming personnel, corporate real estate and third-party vendor expenses. Additionally, the company isn’t expected to incur more COVID-19-related costs. Representing another positive, Chan stated, “TFC has a large cushion to absorb credit losses, with its ACL and unamortized loan mark totaling a peer-leading 60% of estimated DFAST losses. It was proactive with risk ratings on its commercial loan book in Q2, as reflected in its reserve build.” It should be noted that TFC has granted forbearance on 11.2% of loans, and disclosed COVID-19 “at-risk” industries account for 9.6% of total loans. This means there’s a “risk of a large part of its Southeast footprint reclosing in a second COVID-19 wave,” in Chan’s opinion. However, everything else that TFC has going for it keeps Chan with the bulls. To this end, she maintained an Outperform rating. She also gave the price target a boost, raising it from $42 to $47, suggesting 25% upside potential. (To watch Chan’s track record, click here) Judging by the consensus breakdown, other analysts also like what they’re seeing. 7 Buys and 2 Holds add up to a Strong Buy consensus rating. The $44 average price target puts the upside potential at 17%. (See Truist Financial stock analysis on TipRanks) Dollar General Corporation (DG) Boasting more than 16,000 stores, Dollar General counts itself as one of the top discount retailers in the U.S. With some analysts arguing the market is undervaluing the company, now could be the ideal time to get in on the action. Five-star analyst Rupesh Parikh, of Oppenheimer, is singing a different tune after reevaluating DG’s long-term growth prospects. Even though it has already posted a 22% year-to-date gain, the analyst sees even more upside on the horizon. “Based on our work, we believe the market is still underappreciating the company's long-term earnings power, following the recent grocery boom, traction from management initiatives, and lasting market share gains coming out of the coronavirus pandemic,” Parikh commented. According to Parikh, in the near-term, elevated comp growth is likely. To support this claim, he cites the expected growth “in at home food consumption, management initiatives, government stimulus, and benefits from consumer trade-down in a potentially weaker economic environment to drive comps above the company's historical LSD to MSD comp delivery.” It also doesn’t hurt that these benefits and market share gains could persist in the year ahead. As for its long-term earnings power, Parikh is more optimistic than the rest of the Street. While the consensus estimate has FY20-21 EPS coming in at $8.84 and $8.87, respectively, the Oppenheimer analyst thinks the figures will land at $9.15 and $8.90. It should be noted that share buybacks and any adverse impacts related to Biden's tax and wage proposals aren’t factored into these projections. Looking more closely at the potential “blue wave” in the upcoming U.S. election, a Biden presidency would mean that the corporate tax rate would jump from 21% to 28%. This increase would negatively impact DG’s FY21 earnings by nearly 10%, based on Parikh’s estimates. He also mentioned, “In addition, an increase to the minimum wage to $15 nationally could also represent an incremental headwind, especially if implemented over a short period.” That being said, DG’s relative P/E multiple has declined to 0.97x from a recent peak of 1.19x in March 2020, making the valuation more compelling when compared to its peers. All of the above makes DG a “top pick” for Parikh. As a result, the analyst continues to assign an Outperform rating to the stock. Bumping up the price target from $205 to $225, a potential twelve-month gain of 18% could be in the cards. (To watch Parikh’s track record, click here) The bulls have it on this one. Out of 18 total reviews published in the last three months, 15 analysts rated the stock a Buy while only 3 said Hold. So, DG gets a Strong Buy consensus rating. With a $209.71 average price target, shares could surge 10% in the next twelve months. (See Dollar General stock analysis on TipRanks)
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Why You Might Be Interested In Sirius XM Holdings Inc. (NASDAQ:SIRI) For Its Upcoming Dividend
It looks like Sirius XM Holdings Inc. (NASDAQ:SIRI) is about to go ex-dividend in the next 3 days. Ex-dividend means…
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What You Need To Know About The Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Analyst Downgrade Today
One thing we could say about the analysts on Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) – they aren't optimistic…
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Top ASX Stock Picks for August 2020
We asked our Foolish writers to pick their favourite ASX stocks to buy in August.
Here is what the team have come up with…
Brendon Lau: Audinate Group Ltd (ASX: AD8)
Audinate shares have been under pressure since the tech company’s earnings update and capital raising last month, but I think it’ll find a floor and start to recover over the next few months. I’ve seen a similar trend for other cap raise candidates where the stock trades comfortably above the offer price following the transaction. Audinate sold new shares at $5.15 to institutions and its SPP is priced at the same level (or a 2% discount to VWAP).
I believe the Audinate share price will stay above the offer price given the positive longer term outlook and adoption rate for its technology.
Motley Fool contributor Brendon Lau owns shares of Audinate Group.
Michael Tonon: Nearmap (ASX: NEA)
Since Nearmap showed its business model was also successful in the huge American market, its share price has experienced some large swings, both up and down. No doubt it is now watched closely by more analysts while its growing market cap pushed it into the ASX200 in 2019.
While COVID-19 would have provided many challenges, I believe some businesses may have turned to Nearmap’s services as site visits became more difficult with restrictions. This leads me to believe that these structural changes may outweigh any of the short term impacts of the pandemic on the stock.
That’s why looking through Nearmap’s share price movements, I believe it to be a fantastic opportunity and eagerly await its FY20 results, due to be released 19 August.
Motley Fool contributor Michael Tonon owns shares of Nearmap.
Lloyd Prout: BetaShares Asia Technology Tigers ETF (ASX: ASIA)
The Technology Tigers ETF share price is up 52% over the last year, including distributions. Despite this, I think it makes a great long term option for investors looking for both international and industry-specific diversification.
The ASX has a relatively immature technology sector, with the few well known tech stocks (Eg. the WAAAX stocks) sporting lofty valuations as a result. The Technology Tigers ETF allows you to buy international behemoths, that are continuing to grow rapidly, at relatively lower valuations.
Not only that, China and Asia more broadly is a massive and growing market – especially as the middle class expands.
Motley Fool contributor Lloyd Prout owns shares in BetaShares Asia Technology Tigers ETF and expresses his own opinion.
Tristan Harrison: Pushpay Holdings Ltd (ASX: PPH)
I think Pushpay is one of the most promising ASX shares. It’s an electronic donation business that is focused on facilitating digital giving to large and medium churches.
Its growth has accelerated due to the COVID-19 social distancing measures. Its FY20 was a strong year and earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) is expected to at least double in FY21.
The company is aiming for even higher profit margins in FY21. It wants to achieve US$1 billion of annual revenue from the US church sector over the long-term.
Motley Fool contributor Tristan Harrison does not own shares of Pushpay.
Chris Chitty: Coles Group Ltd (ASX: COL)
Coles recently hit a record high as it proves to be an ongoing success story. The company continues to grow its share of the lucrative grocery market. Its record high comes after former parent Wesfarmers Ltd (ASX: WES) sold out of the business in April and shows that Coles is more than capable of thriving as an independent company.
With 50 quarters of consecutive sales growth in its supermarket business, Coles is on a winning streak that could last for some time as more consumers continue to shift to the retailer.
Motley Fool contributor Chris Chitty does not own shares in Coles Group.
Matthew Donald: Dicker Data Limited (ASX: DDR)
A big reason for Dicker Data being my top ASX stock pick for August is that I was really impressed with the company’s recent AGM presentation and market update. Dicker Data is a hardware, software, and cloud distributor with over 41 years’ experience.
It reported double-digit percentage increases in revenue from ordinary activities, recurring software revenue, net profit after tax (NPAT), and net profit before tax.
In addition, the company could benefit from the surge in remote work in response to the COVID-19 pandemic. As a result of the surge in demand, Dicker Data’s hardware and software portfolios play an essential role in helping businesses continue to operate.
Motley Fool Contributor Matthew Donald does not own any stocks in Dicker Data Limited.
Sebastian Bowen: VanEck Vectors Wide Moat ETF (ASX: MOAT)
My pick for this month is this US-focused exchange-traded fund (ETF). In these uncertain times, I think finding businesses with defensive characteristics is more important than ever. And these are the kinds of businesses that MOAT invests in.
Companies are only selected for MOAT if they show signs of possessing a strong competitive advantage, or ‘moat’. Right now, these include famous names like Charles Schwab, Intel, Amazon.com, Tiffany & Co, Berkshire Hathaway and Bank of America.
For an easy way of investing in top quality US shares, I think this ETF is a great choice for August and beyond
Motley Fool contributor Sebastian Bowen owns units of VanEck Vectors Wide Moat ETF.
Toby Thomas: Super Retail Group (ASX: SUL)
I’m on a roll after last month picking Kogan.com (ASX: KGN), which improved 13% over July. For August though you can’t go past Super Retail, which owns recreation companies like Supercheap Auto, Rebel Sport and BCF Camping.
The Super Retail share price jumped nearly 10% on Friday after it reported a 27% spike in revenues for June and a better than expected overall performance for FY20.
As people ditch their usual mid-year holiday routine on a beach in Greece and replace it with spending cash on a road-trip, fitness equipment or camping gear, look for Super Retail to outperform in August and over the coming 12 months.
Motley Fool contributor Toby Thomas does not own shares in Super Retail Group.
Ken Hall: A2 Milk Company Ltd (ASX: A2M)
The A2 Milk Company is at the top of my watchlist in August.
I’m quietly bullish on the A2 Milk share price ahead of its August earnings result.
A planned international push into Canada combined with strong demand across Australia and Asia means we could see some strong growth figures.
Despite trading just shy of its all-time high of $20.05, I think A2 Milk shares could surge towards $25 on the back of a strong earnings result.
I like the geographic diversification and historical success of the Kiwi dairy group, as well as potentially robust earnings.
Motley Fool contributor Ken Hall does not own shares in A2 Milk Company Ltd.
James Mickleboro: CSL Limited (ASX: CSL)
With the CSL share price down over 21% from its 52-week high, I think now would be an opportune time to buy this biotherapeutics giant’s shares. This has been caused by concerns about plasma collections because of the coronavirus pandemic. However, I believe any weakness this causes in the CSL Behring business in FY 2021, will be offset by increasing demand for flu vaccines produced by its Seqirus business.
Looking further ahead, I’m confident its portfolio of leading therapies and high level of investment in research and development have positioned CSL to deliver solid earnings growth over the 2020s.
Motley Fool contributor James Mickleboro does not own shares in CSL Limited.
Glenn Leese: Xero Limited (ASX: XRO)
With the trend of working from home increasing, businesses becoming more digital and the need to allow remote access, Xero is in prime position to thrive.
Being a Software as a Service (SaaS) company, Xero specialises in cloud-based software for businesses. Its products include tax, cashflow, bookkeeping and other tools. Multiple industries are serviced, including retail, technology and healthcare.
Xero shares have grown almost 40% in the last year, including the recent market crash.
Motley Fool Contributor Glenn Leese does not own any shares in Xero Limited.
Phil Harpur: Kogan.com Ltd (ASX: KGN)
Kogan has been one of the star performers on the ASX in recent months. The online retailer’s share price has surged from below $4 in mid-March to now be trading above $16. This strong rally is linked to a series of positive market updates, as online sales have been in strong demand during the coronavirus crisis.
Gross sales climbed by more than 95% during the fourth quarter of 2020. Despite the strong recent share price increase, I believe that there is strong potential for further growth for the Kogan share price in the years to come, as the structural shift towards the online shopping environment continues.
Motley Fool contributor Phil Harpur owns shares of Kogan.com Ltd.
5 stocks under $5
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- Buy these ASX dividend shares before the RBA meeting
- 7 ASX shares to watch this reporting season
- Here’s how to start investing with $5k
- Top brokers name 3 ASX shares to buy next week
- These were the best performing shares on the ASX 200 last week
The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of AUDINATEGL FPO, CSL Ltd., Kogan.com ltd, Nearmap Ltd., PUSHPAY FPO NZX, and Xero. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF, Dicker Data Limited, and Super Retail Group Limited. The Motley Fool Australia owns shares of A2 Milk and COLESGROUP DEF SET. The Motley Fool Australia has recommended AUDINATEGL FPO, Kogan.com ltd, Nearmap Ltd., PUSHPAY FPO NZX, and VanEck Vectors Morningstar Wide Moat ETF. 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 Top ASX Stock Picks for August 2020 appeared first on Motley Fool Australia.
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Stocks on the Move: Pinterest, Under Armour
Today’s Stocks on the Move are Pinterest and Under Armour.from Yahoo Finance https://ift.tt/3gnGRUy