Author Archive for Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers’ Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM’s non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.





25 Stocks Moving in Friday’s Pre-Market Session

Courtesy of Benzinga

25 Stocks Moving in Friday's Pre-Market Session

Gainers

  • electroCore, Inc. (NASDAQ: ECOR) shares rose 83.5% to $1.37 in pre-market trading after the company submitted emergency use authorization application to allow study and use of gammaCore nVNS therapy to treat respiratory symptoms associated with coronavirus.
  • Fate Therapeutics Inc (NASDAQ: FATE) rose 23.4% to $26.00 in pre-market trading after the company announced the first patient has been treated in its first-in-human Phase 1 clinical trial evaluating FT596. The company also announced collaboration with Janssen. The company will receive $50 million upfront, $50 million in equity investment and is eligible to receive up to $1.8 billion.
  • Rosehill Resources Inc. (NASDAQ: ROSE) rose 19.4% to $0.43 in pre-market trading after gaining 16% on Thursday.
  • Francesca’s Holdings Corporation (NASDAQ: FRAN) rose 15.4% to $2.10 in pre-market trading after declining 9% on Thursday.
  • ToughBuilt Industries, Inc. (NASDAQ: TBLT) rose 14.4% to $0.1580 in pre-market trading.
  • Apache Corporation (NYSE: APA) shares rose 13% to $5.30 in pre-market trading after surging around 17% on Thursday.
  • Callon Petroleum Company (NYSE: CPE) shares rose 13.2% to $0.4880 in pre-market trading after gaining more than 5% on Thursday.
  • Tesla, Inc. (NASDAQ: TSLA) rose 13.1% to $514.05 in pre-market trading after the company reported 88,400 deliveries and 102,672 total production in the first quarter, beating analyst expectations.
  • AIkido Pharma Inc. (NASDAQ: AIKI) rose 10.7% to $0.5980 in pre-market trading after declining over 5% on Thursday.
  • Hawaiian Holdings, Inc. (NASDAQ: HA) rose 10.5% to $10.55 in pre-market trading.
  • ProPetro Holding Corp. (NYSE: PUMP) shares rose 10.3% to $3.10 in pre-market trading after climbing 26% on Thursday.
  • Seadrill Limited (NYSE: SDRL) rose 8.7% to $0.4768 in pre-market trading.
  • Canopy Growth Corporation (NYSE: CGC) shares rose 8.7% to $15.00 in pre-market trading.
  • Athersys, Inc. (NASDAQ: ATHX) rose 7.7% to $2.95 in pre-market trading after dropping over 31% on Thursday.
  • Alpha Pro Tech, Ltd. (NYSE: APT) rose 6.5% to $15.69 in pre-market trading after dropping 15% on Thursday.
  • Occidental Petroleum Corporation (NYSE: OXY) rose 6.5% to $13.60 in pre-market trading after gaining 19% on Thursday.

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Tesla Analysts Dissect ‘Surprisingly Strong’ Q1 Deliveries Data

Courtesy of Benzinga

Tesla Analysts Dissect 'Surprisingly Strong' Q1 Deliveries Data

Tesla Inc (NASDAQ: TSLA) shares gained 13.5% on Friday morning after the company reported first-quarter vehicle delivery numbers that weren’t as bad as many investors had feared.

Tesla delivered 88,400 vehicles in the first quarter of 2020, up 40.3% from a year ago and well ahead of consensus analyst estimates of 79,900. Prior to COVID-19 related shutdowns, analysts had been anticipating 95,528 deliveries.

Following its last earnings call, Tesla management said it would “comfortably exceed” 500,000 vehicle deliveries in 2020, an average quarterly rate of 125,000 vehicles. To hit that mark, Tesla will now need to average 137,200 deliveries over the next three quarters.

Analysts had mixed opinions of Tesla shares following the latest delivery numbers. Here’s a sampling of what they had to say.

Good Enough

CFRA analyst Garrett Nelson said the delivery report will help ease investors’ concerns over the negative impact of coronavirus (COVID-19).

“In light of the stock’s YTD outperformance and with the Fremont factory having been idle since March 23 (and the number of Covid-19 cases in the Bay area continuing to escalate), we remain cautious on the shares and the company’s near-term earnings outlook,” Nelson wrote.

Bank of America analyst John Murphy said Tesla’s delivery numbers weren’t great, but they’re good enough given the circumstances.

“We would note that, as production outstripped deliveries in 1Q:20 for the first time in several quarters, this could translate into a cash headwind for TSLA in the quarter, in addition to costs associated with the production shutdown, although we expect TSLA’s recent capital raise ($2.3bn equity) is more than enough to cushion the blow for now,” Murphy wrote.

See Also: Tesla Is ‘Crushing The Auto Industry’, Munster Says

Uncertain Trajectory

Wedbush analyst Daniel Ives said the first-quarter numbers were a moral victory for a company facing a bleak near-term outlook.

“With the second half of March seeing a screeching halt in demand across the globe given the current pandemic, the big question for investors going forward is around the demand trajectory for 2Q/rest of the year and cash burn as this uncertain consumer environment plays out in the field,” Ives wrote.

Piper Sandler analyst Alexander


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Economic Data Scheduled For Thursday

Courtesy of Benzinga

  • Data on motor vehicle sales for March will be released today.
  • The Challenger job-cut report for March is scheduled for release at 7:30 a.m. ET.
  • International trade report for February is scheduled for release at 8:30 a.m. ET.
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET.
  • Data on factory orders for February will be released at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.





Nestle CEO Says Snack Foods ‘Just As Important As Essential Nutrients’

Courtesy of Benzinga

Nestle CEO Says Snack Foods 'Just As Important As Essential Nutrients'

Global food behemoth Nestle (OTC: NSRGY) is “scrambling to meet demand” to keep the world fed, but doesn’t want to take much credit, as “this is our main purpose at this hour,” CEO Mark Schneider said Wednesday during a “Mad Money” interview with Jim Cramer.

Nestle’s Premium Food Products

Cramer credits Nestle with success across multiple “premiumization” categories, including vegan, sustainable and organic. Schneider said these are trends playing out within the food category and will remain despite the coronavirus pandemic.

It’s a “worthwhile endeavor” to continue focusing on these initiatives, as they are a driver of profit, the CEO said.  

Candy Makes Everyone Happy

Cramer said one of the few items keeping his family happy during this difficult time in New York City is their shared love of candy. Schneider agreed and said snacking and comfort food are “just as important as essential nutrients.”

Everyone at Nestle, including those working at factories and distribution centers, are motivated to make sure the world can enjoy their snacks, he said.

Nestle’s Plastic Bottle Update

Sustainable packaging remains a key focus, at Nestle as it needs to be included across all product lines, the CEO said.

Some of the solutions the company is exploring include biodegradable and reusable. The company is “making good progress” toward its 2025 goals, and this year’s goal of eliminating plastic straws is still a focus, Schneider said. 

“All business initiatives are working well.”

Related Links:

7 New Food Items We Can’t Wait To Eat: Shackburger, Big King XL And More

Conagra CEO Talks Chef Boyardee: Nostalgia Is Alive





6 Consumer Cyclical Stocks Moving In Thursday’s Pre-Market Session

Courtesy of Benzinga

Gainers

Royal Caribbean Cruises, Inc. (NYSE:RCL) stock surged 4.93% to $27.04 during Thursday’s pre-market session. The most recent rating by Stifel, on Mar 18, is at Buy, with a price target of $40.

Norwegian Cruise Line, Inc. (NYSE:NCLH) shares rose 4.30% to $9.95. According to the most recent rating by B of A Securities, on Mar 17, the current rating is at Neutral.

Carnival, Inc. (NYSE:CUK) stock increased by 4.02% to $8.53.

Ford Motor, Inc. (NYSE:F) shares surged 3.52% to $4.56. The most recent rating by Morgan Stanley, on Mar 24, is at Overweight, with a price target of $7.

MGM Resorts Intl, Inc. (NYSE:MGM) stock increased by 3.23% to $12.15. The most recent rating by Morgan Stanley, on Mar 30, is at Equal-Weight, with a price target of $18.

Macy’s, Inc. (NYSE:M) stock moved upwards by 3.16% to $4.57. The most recent rating by Citigroup, on Mar 26, is at Sell, with a price target of $5.

 

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Why NanoVibronix’s Stock Is Trading Higher Today

Courtesy of Benzinga

NanoVibronix (NASDAQ: NAOV) shares are trading higher on Wednesday.

The company announced it has received reimbursement approval from the U.S. Centers for Medicare & Medicaid Services for its PainShield.

NanoVibronix focuses on the manufacturing and sale of noninvasive biological response-activating devices that target biofilm prevention, wound healing, and pain therapy. Its principal products include UroShield, an ultrasound-based product to prevent bacterial colonization and biofilm in urinary catheters, enhance antibiotic efficacy, and decrease pain and discomfort associated with urinary catheter use.

NanoVibronix shares were trading up 40.10% to $2.90 in Wednesday’s pre-market session. The stock has a 52-week high of $4.50 and a 52-week low of $1.50.





Strategist Channels His Inner Elsa, Says Apple Investors Need To Let It Go

Courtesy of Benzinga

Strategist Channels His Inner Elsa, Says Apple Investors Need To Let It Go

The “Frozen” character Elsa famously declared it’s time to “let it go” when her dark secret has been discovered. Boris Schlossberg of BK Asset Management has a similar message to Apple Inc. (NASDAQ: AAPL) investors.

‘Absolutely’ No Discretionary Spending

The market is guilty of “utterly underestimating” the ultimate economic impact the coronavirus will have on the U.S. economy, Schlossberg said during a recent CNBC “Trading Nation” segment. The average U.S. consumer is likely to only spend their money on non-discretionary goods. Unfortunately, the average consumer will “absolutely” avoid anything discretionary for at least a year.

“So within that basket, I think you have to let Apple go,” he said.

Pent Up Demand

Right now is a “very difficult time” for the American people but once the virus is resolved, people “are going to want to get out,” Piper Sandler Chief Market Technician Craig Johnson said on “Trading Nation.” The American public are going to want to go on cruises or fly, especially as the travel industry looks to cut prices to spur traffic.

The same can be said for the iPhone, especially the upcoming 5G model. Consumers showed a willingness to spend on the iPhone throughout the 2007 and 2008 economic crisis and now should be no different.

“I think you’re going to see a bigger rebound here in 2020 than I think a lot of people think,” he said.

Related Links:

Apple Supplier Foxconn’s Profit Falls Nearly 25% Year-Over-Year: Report

8 Best Investment Strategies During A Recession

Latest Ratings for AAPL

Date Firm Action From To
Mar 2020 UBS Maintains Buy
Mar 2020 Deutsche Bank Upgrades Hold Buy
Mar 2020 Nomura Instinet Maintains Neutral

View More Analyst Ratings for AAPL


View the Latest Analyst Ratings





13 Industrials Stocks Moving In Tuesday’s Pre-Market Session

Courtesy of Benzinga

Gainers

Golden Ocean Group, Inc. (NASDAQ:GOGL) stock increased by 10.45% to $3.17 during Tuesday’s pre-market session.

Safe Bulkers, Inc. (NYSE:SB) shares increased by 7.96% to $1.22. The most recent rating by Citigroup, on Mar 2, is at Sell, with a price target of $0.

Ballard Power Systems, Inc. (NASDAQ:BLDP) shares increased by 5.55% to $7.99. The most recent rating by H.C. Wainwright, on Mar 10, is at Buy, with a price target of $16.

American Airlines Group, Inc. (NASDAQ:AAL) shares surged 4.16% to $12.76. The most recent rating by Citigroup, on Mar 30, is at Sell, with a price target of $13.

United Airlines Holdings, Inc. (NASDAQ:UAL) shares surged 3.68% to $31.27. The most recent rating by Bank of America, on Mar 26, is at Neutral, with a price target of $46.

Delta Air Lines, Inc. (NYSE:DAL) stock moved upwards by 3.56% to $29.68. The most recent rating by Bank of America, on Mar 26, is at Neutral, with a price target of $36.

BIO-key International, Inc. (NASDAQ:BKYI) shares surged 3.23% to $0.83.

Losers

TOP Ships, Inc. (NASDAQ:TOPS) stock decreased by 59.25% to $0.22 during Tuesday’s pre-market session.

Seanergy Maritime Hldgs, Inc. (NASDAQ:SHIP) shares declined 15.79% to $0.28.

Globus Maritime, Inc. (NASDAQ:GLBS) shares declined 14.58% to $0.61.

SuperCom, Inc. (NASDAQ:SPCB) shares plummeted 12.03% to $0.95. According to the most recent rating by HC Wainwright & Co., on Mar 3, the current rating is at Neutral.

Nordic American Tankers, Inc. (NYSE:NAT) shares declined 8.42% to $4.35.

Castor Maritime, Inc. (NASDAQ:CTRM) shares decreased by 3.31% to $0.64.

 

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This Chart Shows E-Commerce Winners, Losers During Coronavirus Pandemic

Courtesy of Benzinga

This Chart Shows E-Commerce Winners, Losers During Coronavirus Pandemic

The coronavirus is not entirely indiscriminate in claiming economic victims: some companies seem much more immune than others.

Amazon.com, Inc. (NASDAQ: AMZN) and Chewy Inc (NYSE: CHWY) are among the conquering corporations, according to Jefferies, while eBay Inc (NASDAQ: EBAY) and Etsy Inc (NASDAQ: ETSY) are expected to suffer defeat.

Analysts are projecting an overall increase in customers for Amazon, flat growth for Chewy and declines for eBay and Etsy.

Their business models may explain why.

Amazon and Chewy are winning the online battle during the #coronavirus. EBay and Etsy getting crushed. $EBAY $ETSY $AMZN $CHWY pic.twitter.com/5tTTBtzyAA

— Brian Sozzi (@BrianSozzi) March 29, 2020

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

Amazon

The e-commerce site and delivery service is deemed “essential” in many sheltered states and has been given permission to continue operations. With competing brick-and-mortar retailers shuttered, shoppers have turned to Amazon for their essentials.

Notably, the company is under pressure to raise prices as warehouse laborers strike in demand for more coronavirus protections.

Chewy

Brick-and-mortar pet stores remain open for business as “essential” operations. But Chewy’s e-commerce platform offers unique convenience and, as many believe, safety. The online pet supplies retailer could seize new repeat customers in the near-term.

EBay

Spikes in unemployment will likely depress discretionary spending in the near term. Those who can afford to spend are taking precautions to limit contact with the contagion — which may mean avoiding products from vendors with unknown sanitation policies. 

Etsy

Etsy’s position is similar to that of eBay’s. The site’s offerings are not particularly critical for quarantine survival, and shoppers fear contaminants. Since early March, Etsy has removed coronavirus-related listings such as homemade hand sanitizer and alleged miracle herbs.

Related Links:

Mark Newton Says There Can Still Be Winners In Retail, But Be Selective

Mall Owner Taubman To Tenants: Pay Your Rent

Latest Ratings for EBAY

Date Firm Action From To
Feb 2020 RBC Capital Maintains Sector Perform
Jan 2020 Canaccord Genuity Maintains Hold
Jan 2020 BMO Capital Maintains Outperform

View More Analyst Ratings for EBAY


View the Latest Analyst Ratings





 
 
 

Zero Hedge

TikTok Files New Injunction Against White House Amid Reports Deal Is "Falling Apart"

Courtesy of ZeroHedge View original post here.

As Fox Business publishes rumors that the TikTok-Oracle deal is falling apart, TikTok-owner ByteDance has filed a petition for an injunction Wednesday afternoon, asking a federal court in Washington DC to intervene and quash President Trump's threatened ban of TikTok on national security grounds.

The injunction, filed Wednesday afternoon, comes after a California court shut down Trump's attempt to ban Tencent's...



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Phil's Favorites

SPACs are still bulls***

 

SPACs are still bulls***

Courtesy of 

I almost slipped and bought into the SPAC Renaissance. Almost.

Draftkings looks legit. But Draftkings could have been a true IPO. The SPAC wrapper was beside the point. Chamath and Ackman will probably do something legit, those guys usually find a way to win. Maybe a few others. The rest are / will be garbage. My first impression was right.

Nikola’s stock has now fallen from near 100 down into the 20’s as the guy’s whole story has unraveled. Then the guy stepped down and ran away. None of this had to happen. But Nikola arrived on the markets as the quarry of a Special Purpose Acquisit...



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ValueWalk

Real Estate Crash Ahead or Inflation Hedge

By Sven Carlin. Originally published at ValueWalk.

2021 might bring a real estate crash, but analyzing the last crash of 2009 and what the FED is doing, it is more likely we see inflation increasing real estate prices rather than collapsing them.

[reit]

Q2 2020 hedge fund letters, conferences and more

The real estate market is in the following situation:

  • undersupply in more than 50% of places all over the words
  • be there!
  • a differentiation in demand for various real estate properties
  • Extremely low interest rates that make it cheap to buy and take a mortga...


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Kimble Charting Solutions

Is Gold/US Dollar Ratio Sending Bearish Signal To Precious Metals?

Courtesy of Chris Kimble

Last month, I featured this Gold / US Dollar ratio chart in an article warning of the potential for a trend reversal.

While the broader bullish trend is still intact (higher lows since 2015), it could be time for Gold to take a breather.

Looking at today’s “updated” chart, we can see that the ratio formed a “doji star” candle last month with momentum running at peak levels (concerning). And this month we are seeing follow through to the downside (in the form of a red candle).

As well, this bearish reversal pa...



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Politics

'Colossal Backdoor Bailout': Outrage as Pentagon Funnels Hundreds of Millions Meant for Covid Supplies to Private Defense Contractors

 

'Colossal Backdoor Bailout': Outrage as Pentagon Funnels Hundreds of Millions Meant for Covid Supplies to Private Defense Contractors

"If you can't get a Covid test or find an N95, it’s because these contractors stole from the American people to make faster jets and fancy uniforms."

By Jake Johnson

Secretary of Defense Mark Esper and Chairman of the Joint Chiefs of Staff Army Gen. Mark Milley hold an end of year press conference at the Pentagon on December 20, 2019 in Arlington, Virginia. (Photo: Drew Angerer/Getty Images)

Instead of adhering to congressional inten...



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Biotech/COVID-19

How and when will we know that a COVID-19 vaccine is safe and effective?

 

How and when will we know that a COVID-19 vaccine is safe and effective?

How much longer must society wait for a vaccine? ANDRZEJ WOJCICKI/Getty Images

By William Petri, University of Virginia

With COVID-19 vaccines currently in the final phase of study, you’ve probably been wondering how the FDA will decide if a vaccine is safe and effective.

Based on the status of the Phase 3 trials currently underway, it i...



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Chart School

Stocks are not done yet - Update

Courtesy of Read the Ticker

There are a few times in history when a third party said this US paper (stocks, funds or bonds) is worthless.

Here is two.

1) 1965 Nixon Shock - The French said to US we do not want your paper dollars please pay us in gold. This of course led to the US going off the gold standard.

2) 2007 Bear Stern Fund Collapse - Investors said their funds collateral was worth much less than stated. This of course was the beginning of the great america housing bust of 2008.


In both cases it was stated .."look the Emperor is naked!"... (The Empe...

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Digital Currencies

Cryptocurrencies Rarely Used To Launder Money, Fiat Preferred

Courtesy of ZeroHedge View original post here.

Authored by Shaurya Malwa via Decrypt.io,

Traditional channels continue to dominate the estimated $2 trillion global money laundering racket instead of cryptocurrencies, a report says.

In brief
  • Money laundering via cryptocurrencies is not a preferred tool for criminals, a report said...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

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Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.