In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The actual amount could be as much as three times higher, the EPA says, because of incomplete data.

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Among social media platforms, Snap (SNAP) has been 2020’s best performer – up year-to-date by 27%. COVID-19 has resulted in increased engagement and Snap has been gaining credibility among users for several reasons – confidence in the app’s promoted products and principled stand against misinformation, have both played their part.Last week’s virtual Snap Partner Summit had enough highlights to keep users happy and offered new features, services, and partnerships.Snap unveiled Snap Minis, bite size third party apps which operate in the Snap Chat section. Minis can be used among friends and save the hassle of switching to different apps by completing tasks in Snapchat. The initiative has partners including Coachella, movie ticketing app Atom Tickets and meditation app Headspace.Snap now has a navigation bar for the first time, has added new camera innovations such as the ability to “scan” plants and dogs, and has added Voice Scan, a partnership with SoundHound, that lets users activate a Lens with their voice.Furthermore, the company has just revealed a new partnership with game maker Zynga, which will create multiplayer games exclusively on the Snap platform.There’s a lot to like about the social media app, says Monness analyst Brian White. However, “given the macro environment and concerns around competition,” the 5-star analyst remains on the sidelines for now. Long term, White remains confident in Snap’s ability to execute, but the coming months will be challenging, nonetheless.White added, “The digital ad market enjoys a strong secular trend that has fueled the growth of companies such as Snap, and we expect the shift from traditional advertising to digital advertising to continue; however, all ad spending is sensitive to the vicissitudes of the economy. Although we expect Snap to struggle with a weakening digital ad spending environment in 2020, we look for the shift toward digital advertising, and away from traditional advertising, to eventually accelerate over the next couple of years as the COVID-19 crisis acts as a catalyst for advertisers to more expeditiously move away from traditional venues.”Accordingly, White has a Neutral rating on Snap with no fixed price target in mind. (To watch White’s track record, click here)The Street’s view on Snap presents a strange conundrum. On the one hand, based on 20 Buys, 8 Holds and 1 Sell, the disappearing photo app has a Moderate Buy consensus rating. However, the average price target of $18.59 represents possible downside of nearly 9%. It will be interesting to see whether the analysts downgrade their ratings or upgrade price targets over the coming months. (See SNAP price targets and analyst ratings on TipRanks)To find good ideas for 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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First Majestic Silver (AG) has asked Canada’s Mexican ambassador to intervene in an escalating $209 million tax dispute, reports Reuters.“We’ve been trying to get somebody to the table to finally put this behind us,” First Majestic CEO Keith Neumeyer told Reuters. The company owns seven silver mines in Mexico and wants ambassador Graeme Clark to set up a meeting with President Lopez Obrador so the dispute can be resolved.According to Neumeyer, Mexican tax authorities have rejected three settlement offers, leading the Vancouver-based company to commence a trade challenge last month.Meanwhile President Lopez Obrador recently stated that some Canadian miners are behind on their tax payments. He has asked the Canadian government to put pressure on these miners to prevent the matter proceeding to international tribunals.Shares in AG have plunged 25% year-to-date, and analysts have a cautiously optimistic take on the stock’s outlook. Its Moderate Buy Street consensus breaks down into 3 buy ratings vs 5 holds, while the $10 average analyst price target indicates 8% upside potential lies ahead.Speaking for the bulls, HC Wainwright analyst Heiko Ihle reiterated his First Majestic buy rating on June 12 with a $10.50 price target.He made the call after AG announced an agreement to purchase a stream on 50% of payable silver from the Springpole project in Ontario, Canada for $22.5 million in cash and shares from First Mining Gold Corp.Springpole maintains a compelling precious metal resource with long-term production potential and is located in a geopolitically safe jurisdiction, the analyst told investors.“We believe that this acquisition provides First Majestic with a potentially de-risked revenue source, as the company has no ongoing operational obligations, and the transaction may ultimately yield incremental returns in an improving silver market” Ihle wrote.Thanks to this new silver stream he now believes that First Majestic’s exposure to an upward trending silver price will span beyond its currently producing assets in Mexico. (See AG stock analysis on TipRanks).Related News: AT&T Mulls $4 Billion Sale Of Gaming Division- Report American Express Scores China Go-Ahead In Milestone Moment E-Signature Pioneer DocuSign To Join Nasdaq-100 Next Monday More recent articles from Smarter Analyst: * IBM Snaps Up Spanugo Cybersecurity Provider Lifting Shares In Pre-Market * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Honeywell Forms Unmanned Aerial Systems Unit For Drones Market * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment

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Since finally overcoming its outstanding lawsuit with Apple (AAPL) in December, Qualcomm (QCOM) has put itself in a solid position to thrive in light of the 5G revolution. The mobile chip giant expects earnings will increase more than a whopping 50% in 2021 and at a rate of roughly 25% through 2026. Those figures may seem ambitious, but they are definitely attainable as the 5G chip market is expected to grow by a massive 88% over that same time-frame.Indeed, Rosenblatt analyst Kevin Cassidy, who is ranked in top 100 of more than 14,000 experts on TipRanks, is confident that the mainstream adoption of 5G is imminent and will be widespread, affirming that Qualcomm is strategically positioned to take full advantage of the trend for years to come.The 5-star analyst views 5G revolution as an essential driver for QCOM for several reasons, including its rapid adoption, extensive applications, and industry-breaking capabilities.Above all, Cassidy envisions 5G technology being the quintessential growth driver in tech sector for what could be more than a decade. Presently, carrier companies are integrating 5G into their cellular networks across the globe, and the analyst estimates that “Qualcomm’s dollar content per handset [will] increase 25% to 50%” relative to those operating with 4G. Even more promising, though, is the “technology’s ability to connect ‘things-to-things.’” The major differentiator between 5G and all previous networks is its ability to exchange data among all sorts of objects and devices, including cars, traffic lights, factories, and more.Cassidy is confident that the long-term implications of 5G will work heavily in Qualcomm’s favor. Even if the pandemic does bring more economic slowdown, more people and businesses will be relying on 5G technology to communicate from home to be optimally efficient. Widespread adoption of the technology is inevitable, and QCOM will be ready to capitalize.To this end, Cassidy rates QCOM an Overweight along with an annual price target of $105, which implies about 22% upside from current levels. (To watch Cassidy’s track record, click here)TipRanks is not quite as keen on QCOM, but nevertheless exhibits the stock as a Moderate Buy. Out of the 19 analysts offering ratings on Qualcomm, 10 say Buy, 6 suggest Hold, and 3 recommend Sell. With a 12-month average price target of $89.73, the stock suggests a modest upside of 4% (See QCOM stock-price forecast on TipRanks).To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. More recent articles from Smarter Analyst: * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment * Facebook’s WhatsApp Rolls Out Digital Payment Service In Brazil * United Airlines Secures $5 Billion Loan To Shore Up $17 Billion Liquidity Chest

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Top news and what to watch in the markets on Tuesday, June 16, 2020.

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(Bloomberg) — Banks including Credit Suisse Group AG and Morgan Stanley face a $300 million shortfall on margin loans to the embattled founder of Luckin Coffee Inc., after they sold shares he had pledged as collateral for deeply depressed prices.The lenders, which also include Haitong International Securities Group and Goldman Sachs Group Inc., raised about $210 million from Luckin stock disposals over the past two months, people familiar with the matter said. Luckin Chairman Lu Zhengyao defaulted on $518 million of margin debt in early April, Goldman said in a statement at the time, after revelations of accounting fraud caused shares of the Chinese coffee chain to plunge.The stock sales represent the latest attempt by Lu’s creditors to limit losses from a scandal that has fueled calls in Washington for tougher scrutiny of financial ties between the U.S. and China. Luckin’s fall from grace blindsided some of the biggest names on Wall Street just as they were gearing up for a historic expansion into Asia’s largest economy.Spokespeople for the lenders declined to comment. Luckin didn’t immediately respond to multiple requests.Goldman, tapped by lenders to oversee the stake disposal, said in April that it would sell as many as 76.35 million of Luckin’s U.S.-listed shares. The firm has now liquidated the entire position, one of the people said, asking not to be identified discussing private information.A back of the envelope calculation suggests the shares were sold for $2.75 apiece on average. That compares with the closing price of $26.20 before the Luckin scandal emerged and the $3.18 average price since April 6, when Goldman announced plans to offload the stake.Credit Suisse and Morgan Stanley each put up about $97 million for the margin loans, while Haitong International lent about $134 million, one of the people said. Goldman and Barclays Plc lent $73 million and $78 million, respectively, while China International Capital Corp. contributed $39 million.It’s still unclear whether the banks will ultimately lose money. They’re also pursuing the assets of an investment company controlled by Lu’s family trust, Bloomberg News reported last month. The investment company has disputed that it’s in default and has requested an injunction in Hong Kong to prevent liquidation proceedings, according to a May 6 court filing.Lu became a billionaire after his fast-growing Starbucks rival went public in the U.S. last year. Much of his wealth has since been wiped out by the 85% plunge in Luckin’s stock since April, when the company disclosed that some of its employees may have fabricated billions of yuan in sales.Chinese regulators have obtained emails purporting to show Lu instructed financial fraud, business news outlet Caixin reported this month, citing unidentified people close to the agencies. Regulators found evidence of fraud at Luckin in their investigation, Caixin cited several people as saying.Lu has previously denied deceiving investors. “My personal style may have been too aggressive and led the companies to run too fast, which has triggered many problems,” he said in a statement last month. “But I never lied to investors with the idea of ‘selling concepts.’ I’m working hard to make the company bigger and better to create value for society.”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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Fracking pioneer Chesapeake Energy Corp (CHK) is preparing to file for bankruptcy as soon as this week, three people familiar with the matter have told Reuters.According to the Reuters sources, CHK is now wrapping up negotiations for a $900 million debtor-in-possession loan. It is also discussing with creditors the potential to “roll up” its existing debt and make it part of the bankruptcy loan, bringing the total debtor-in-possession financing closer to $2 billion, the sources said.At the same time the company is also looking for an equity infusion from creditors. Chesapeake plans to file for bankruptcy on Thursday, but if the financing required further discussions this could move to next week, the sources added.If the company lives on post-bankruptcy, creditors like Franklin Resources Inc will take over Chesapeake in exchange for deleting over $7 billion of debt, Reuters reports.With a massive debt burden of around $9 billion, CHK missed an interest payment on Monday, the sources said, and there is another payment-date fast approaching on July 1.Unsurprisingly, the stock shows a Strong Sell Street consensus, with 5 recent sell ratings vs just 1 hold rating. Meanwhile the average analyst price target stands at $16.50 (13% downside potential).Shares have plunged a whopping 89% year-to-date, with the oil and gas giant reporting a “going concern” warning in its May quarterly financial filing.“We do not expect [Chesapeake] to be in compliance with its financial covenants beginning in Q4 2020, which would result in an act of default on the credit facility,” CFRA analyst Paige Meyer told investors back in May.“With a default on the credit facility, we believe other lenders are likely to call debt due as well using ‘cross default’ clauses.” She downgraded the stock to Strong Sell with a $0 price target. (See Chesapeake stock analysis on TipRanks).Related News: Debt-Laden Chesapeake Rolls Out $25 Million Incentive Executive Pay Plan Chesapeake Energy Gearing Up For Bankruptcy Filing- Report Bankrupt Hertz Tanks 24% Amid Plans To Sell $500 Million In New Shares More recent articles from Smarter Analyst: * Facebook’s WhatsApp Rolls Out Digital Payment Service In Brazil * Delta To Add 1,000 Flights In July; Resuming China Flights Next Week * United Airlines Secures $5 Billion Loan To Shore Up $17 Billion Liquidity Chest * Nio Completes $428M ADS Offering, Stock Now Up 70% YTD

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