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As the Fed’s Powell sounds alarms, mortgage rates tank below 3%
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Stock market news live updates: Futures in the red after ADP payrolls data clocks in below estimates
Wall Street was poised for a lower open on Wednesday, after a monster Q2 rally that set the tone for a new quarter.
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Macy’s records nearly $4 billion in losses as COVID-19 slams business
“While our stores are reopened, we expect that the COVID-19 pandemic will continue to impact the country for the remainder of the year,” Chief Executive Officer Jeff Gennette said in a statement, adding that the retailer did not expect another total shutdown of stores. Macy’s, which also owns Bloomingdale’s, said net sales for the first quarter through May 2 nearly halved to $3.02 billion. The retailer’s results come as some of its peers, including J Crew, J.C. Penney and Neiman Marcus Group, have filed for bankruptcy after failing to cope with market uncertainties and mounting debt.
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Airstream sales boom amid pandemic and new models
Airstream’s business is soaring as Americans look to the open road amid the coronavirus pandemic.from Yahoo Finance https://ift.tt/3dRrd1M
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FOCUS-From Parkinson’s to peanut allergy, pandemic puts brakes on new drugs
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Kroger Close To Buy Point
Kroger 34.60 buy point from awkward cup-with-handle entry. RS line improving, needs some work. Strong recent growth.from Yahoo Finance https://ift.tt/3ijcG2e
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United Airlines is tripling flights despite a spike in coronavirus infections
United Airlines plans to triple the number of daily flights in August despite a surge of coronavirus infections in the United States.
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Hedge Funds Never Been Less Bullish On Clovis Oncology Inc (CLVS)
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
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3 exciting ASX growth shares to buy with $3,000 today
If you’re interested in adding some growth shares to your portfolio, then I think the three named below could be great options.
I believe all three are well-positioned to deliver above-average earnings growth over the next few years and could generate strong returns for investors.
Here’s why I would invest $3,000 across the three:
Bubs Australia Ltd (ASX: BUB)
The first growth share to look at is this vertically integrated producer of goat’s milk-focused infant formula and baby food products. While I’m not sure whether it will ever be as successful as a2 Milk Company Ltd (ASX: A2M), I do see a lot of similarities. For example, around five years ago a2 Milk Company was a loss-maker and people were questioning the investment proposition. Fast-forward to today and a2 Milk Company is a highly profitable business and growing at an extraordinary rate. Could the same happen with Bubs? Well, after several years of operating at a loss and burning through cash, the company has just become cash flow positive. I’m optimistic this is a sign that it has now reached a scale which will make its operations more and more profitable over the coming years. This could make it a great long term option for growth investors.
Megaport Ltd (ASX: MP1)
Another growth share to consider buying is this elasticity connectivity and network services company. Megaport’s increasingly popular service allows its customers to increase and decrease their available bandwidth in response to their own demand requirements. A good example of this is an airport. It can increase its bandwidth during busy parts of the day and then decrease it when its terminals are quiet. This means the airport doesn’t need to be tied to a fixed service level on long-term and expensive contracts. Demand for its offering has been growing strongly, leading to stellar recurring revenue growth. I expect this trend to continue for some time to come thanks to the cloud computing boom.
PolyNovo Ltd (ASX: PNV)
A final growth share to consider buying is this exciting medical device company. I think it could have a very bright future thanks to its NovoSorb Biodegradable Temporising Matrix (BTM) product. This was developed at CSIRO and is a wound dressing intended to treat full-thickness wounds and burns. It currently has a sizeable $1.5 billion market opportunity, but management is intent on expanding its usage into the hernia and breast treatment markets. If this is successful, it could be very lucrative. Management estimates that these markets would add $6 billion to its addressable market.
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
- These are 2 quality ASX shares to buy with $2,000
- Why Polynovo and JB Hi-Fi shares outperformed in FY20
- Why I’d buy and hold a2 Milk shares until 2025
- Top ASX Stock Picks for July 2020
- The top 10 performing ASX shares over the past year
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 BUBS AUST FPO, MEGAPORT FPO, and POLYNOVO FPO. The Motley Fool Australia owns shares of A2 Milk. The Motley Fool Australia has recommended BUBS AUST FPO and MEGAPORT 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.
The post 3 exciting ASX growth shares to buy with $3,000 today appeared first on Motley Fool Australia.
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German Watchdog Faces Wirecard Grilling From Lawmakers
(Bloomberg) — Germany’s top financial watchdog faces a grilling by lawmakers in Berlin over the regulator’s failure to uncover problems at Wirecard AG before it collapsed in one of the country’s biggest-ever corporate scandals.BaFin President Felix Hufeld is scheduled to testify behind closed doors to German parliament members at about 11:30 a.m. local time on Wednesday. Given the critical comments made by some lawmakers last week, the hearing may be Hufeld’s toughest since he took the job more than five years ago.Even with ample warning, German authorities failed to catch accounting issues at the digital-payments company, whose collapse has shaken confidence in the country’s finance industry. While the government is now plugging gaps in its oversight framework, the hearing presents a chance for Hufeld to counter criticism that BaFin sought to protect Wirecard by banning short sales of the stock last year.The BaFin president acknowledged last week that his institution is among the organizations responsible for the scandal at Wirecard, yet Hufeld defended the short-sale ban as being a legal requirement following indications that the stock’s trading was being manipulated. Sarah Ryglewski, a deputy finance minister, will also be questioned by parliament members.At the hearing Hans Michelbach, a member of the finance committee from Angela Merkel’s bloc, plans to ask Hufeld why he didn’t inform the committee that BaFin was investigating Wirecard’s accounts during an April 2019 meeting at which the regulator mentioned the company. He’ll also ask why BaFin didn’t take action when it began to suspect that Wirecard was manipulating the market.German lawmakers have already taken shots at BaFin in the media. Fabio De Masi, deputy leader of anti-capitalist Left party’s parliamentary caucus, questioned whether Hufeld will be able to hang onto his job. Danyal Bayaz, a committee member for the opposition Greens, told Bloomberg that “personnel consequences” — a euphemism for sackings — may be required.Politicians from the ruling parties haven’t gone that far. Alexander Dobrindt, the head of the CSU party caucus in the lower house of parliament, said on Tuesday that lawmakers may begin their own investigation if the Finance Ministry doesn’t clarify BaFin’s role in the Wirecard scandal.Hufeld, 59, is a lawyer by training and a keen cellist. He’s known as an affable person who speaks plainly about controversial issues. He often starts speeches with cultural references ranging from Rip van Winkle to German TV advertisements from the 1990s.While BaFin was seen as slow to react, another major issue was the delegation of responsibilities.Germany is one of relatively few countries to split accounting enforcement between a private-sector watchdog and its markets regulator. This week, the country’s Justice Ministry canceled its contract with the former, while Finance Minister Olaf Scholz said that BaFin needs investigative powers similar to prosecutors.That would hand more influence to Hufeld, a former banker and insurance industry executive who joined BaFin in 2013. Although he missed out on the soul-searching that followed the 2008 credit crunch, the BaFin president has had a front seat to the resulting seismic shift in the finance industry as one of the key players in shaping the regulatory response.That won’t make the hearing any easier.“Any failures have to be laid clearly on the table,” said Matthias Hauer, a lawmaker from the CDU and a member of the finance committee. “We owe it to the savers, staff and investors as well as all the other market participants to prevent a repeat of such a situation.”(Adds planned questions in fifth paragraph.)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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