Shares of Nano Dimension Ltd. , an Israel-based 3D printing company, tumbled 12% in premarket trade Monday, after the company priced a share offering at a discount. Nano Dimension said it sold 33.3 million ADS at $7.50 per ADS in a registered direct offering, below its closing price Friday of $8.81. Proceeds will be used for working capital and general corporate purposes, including potential deals. The stock has gained 248% in 2020 to date, while the S&P 500 has gained 16%.
Cathie Wood Buys Back Option That Had Threatened Control of Ark
Some profit-taking set in early Monday and pulled Brent crude futures back 53 cents to $47.65, while U.S. crude eased 30 cents to $45,23 a barrel.
Japans Nikkei firmed 0.7%, bringing its gains for the month to 16.7% for the largest rise since 1990.
The euro has caught a tailwind from the relative outperformance of European stocks and climbed 2.7% for the month so far to reach $1.1964. A break of the September peak at $1.2011 would open the way to a 2018 top at $1.2555.
Stocks opened higher Monday morning after President Donald Trump signed a virus relief package after a multi-day delay.
However, we are now in a seasonally strong time of year and investors are yet to fully discount the potential for a very strong recovery next year in growth and profits as stimulus combines with vaccines.
The dollar has even declined against the Japanese yen, a safe-haven of its own, losing 0.5% in November to reach 104.03 yen, though it remains well above key support at 103.16.
Federal Reserve Chair Jerome Powell testifies to Congress on Tuesday amid speculation of further policy action at its next meeting in mid-December.
Many European bourses are boasting their best month ever with France up 21% and Italy almost 26%. The MSCI measure of world stocks is up 13% for November so far, while the S&P 500 has climbed 11% to all-time peaks.
Earlier this year, Berkshire Hathaway threw its heavyweight name behind Barrick Gold with an investment that flew in the face of Warren Buffetts longtime aversion to gold. The news was earth-shaking in the gold market, one strategist said at the time.
Among the Dow Jones stocks, Apple and Microsoft are among the top stocks to buy and watch in December 2020.
The rush to risk has also benefited oil and industrial commodities while undermining the safe-haven dollar and gold.
(Bloomberg) — Sheila Patel, chairman of Goldman Sachs Group Inc.s asset-management unit, is retiring from the $1.8 trillion division after almost two decades at the firm.Patel is among the companys most senior women and shepherded some of Goldmans highest-profile relationships with investors around the world. She will step down from the partnership and become an advisory director in the new year, Chief Executive Officer David Solomon said in a memo to staff Monday.Sheila has contributed to our culture, including by serving as a mentor to many Goldman Sachs professionals around the world, Solomon said in the memo. I look forward to benefiting from her continued counsel.Patel rose to Goldmans highest ranks in 2006 when she was named partner within three years of joining the firm. Part of the banks management committee in Europe, shes overseen the fast-growing areas of environmental, social and governance and impact investing.Prior to joining the asset-management unit, she worked in various roles in the equities division, including as co-head of distribution in Asia and head of U.S. derivatives sales.For more articles like this, please visit us at Subscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
industrial commodities lifted by recovery betsAnalysts favor companies that supply EV manufacturers or develop technology to support infrastructure and autonomous driving.Now the bad news: Other than anticipated Social Security (approximately $1,internet based tech giants often face regulatory scrutiny. Alibaba Group is on the ropes. Just in case readers are not following Alibaba closely,head of financial market strategy at Westpac.Turkey to get first Sinovac batch before Thursday?
With 2020 winding down, theres a growing belief that 2021 is going to be a growth year for the stock markets. The US elections have returned a divided government, one unlikely to have the broad majorities or the broad support needed to enact wide-ranging reform legislation from either the right or left, and that bodes well for the economy generally.The COVID vaccines are entering distribution, and while new anti-virus lockdowns are also getting set in place, theres a feeling that the end of the pandemic may be near. According to the analyst community, a few names reflect serious growth plays. These are stocks that have already notched impressive gains year-to-date, and are poised to see the growth keep on coming even after 2020 wraps up. Bearing this in mind, we used TipRanks database to scan the Street for tickers that fall into this category. Locking in on three in particular, the analysts believe that each name, which also happen to boast a Strong Buy consensus rating, can keep the rally alive in 2021. SunOpta (STKL)The first stock on this growth list is a health snack company, SunOpta. The companys line of products includes plant-based beverages, fruit-based snacks, broth and stocks, teas, and sunflower and roasted snacks. The company markets through private label and co-manufacturing distribution, as well as through food service institutions.SunOpta boasts a market cap of $962 million, after a year of stunning share price growth. The stock is up an impressive 328% this year, far outpacing the general markets. The companys Q3 revenues came in at $314.9 million, a 6.4% year-over-year gain. EPS, at a net loss of 1 cent, was better than the 2-cent loss expected and far better than the 11-cent loss reported in the year-ago quarter.The companys solid performance has attracted the attention of Craig-Hallum analyst Alex Fuhrman. The analyst rates STKL a Buy along with a $15 price target. This figure implies a one-year upside of 40% from current levels. (To watch Fuhrmans track record, click here)Backing his stance, Fuhrman wrote, We believe the companys focus on high value plant-based foods and beverages should command a premium valuation with opportunities for upside to estimates as the economy recovers from COVID.In large part, Fuhrmans optimism is based on SunOptas niche. The analyst noted, We expect plant-based food stocks to command a premium valuation to other food companies for the foreseeable future given faster growth trends and compelling environmental benefits. At just $4.5B in sales today, plant-based products are less than 1% of the $695B grocery market, but it is easy to envision it representing a double-digit share of grocery sales over time. Wall Street doesnt always come together in unanimity, but in this case, it does. SunOptas Strong Buy analyst consensus rating is unanimous, based on 3 Buy reviews. The stock is selling for $10.70, and with an average price target of $15, SunOpta has a forward growth potential of 40%. (See STKL stock analysis on TipRanks)Green Brick Partners (GRBK)One bright spot in the economy this past year has been the home construction industry. As people moved out of the cities to avoid COVID, they headed for the suburbs and exurbs and that boosted the demand for single-family homes. Green Brick is a land development and home acquisition company, based in Texas. The company invests in real estate, primarily land, and then provides plots and construction financing for the development projects.The spread of the suburbs not just in this COVID year, but as a general trend, has been good to Green Brick. The companys Q3 revenue was $275.8 million, the best in more than year, beating the forecast by 20% and growing 31% year-over-year. EPS was also strong; the Q3 value, 68 cents, was 54% above expectations, and more than double the year-ago value.Green Bricks share price has been rising along with the companys financial outlook. For the year, GRBK has gained his coverage of this stock, JMP analyst Aaron Hecht noted, [We] expect GRBK to capitalize on the trend of apartment renters shifting to single-family homes for safety and changing dynamics brought on by more workers telecommuting. The most important cohort shift within the buyer pool is millennials who have come off the sidelines to buy homes, a trend which we believe has multiple years of runway. The millennial demand trend is magnified in GRBKs case given its outsized exposure to markets, such as Texas & Atlanta, which are the net beneficiaries of migration out of high-priced coastal geographies.To this end, Hecht rates GRBK an Outperform (i.e. Buy), and his price target of $30 implies an upside of ~23% for the next 12 months. (To watch Hechts track record, click here)While not unanimous, the Strong Buy consensus rating on Green Brick is decisive, with a 3 to 1 breakdown of Buys versus Hold. The average price target of $27.5 gives a 12.5% upside potential from the current share price of $24.45. (See GRBK stock analysis on TipRanks)Brightcove, Inc. (BCOV)Shifting gears to the software industry, we come to Brightcove, a Boston-based software company. Brightcove offers a range of video platform products, including cloud-based hosting and social and interactive add-ons. The company is a leader in the delivery and monetization of cloud-based online video solutions.The strength of such a business model, during these pandemic days with their massive shift of white-collar workers toward remote offices, telecommuting, and video conferencing, is obvious. Brightcoves earnings hit 11 cents per share in Q3, nearly double the year-ago quarter. At the top line, revenues have been stable, holding between $46 million and $48 million per quarter in 2020, with no discernable COVID impact.Shares in Brightcove have been going up in steps all year, after a minor blip last winter. The pace has accelerated since the end of July, after the Q2 results were released, and the stock is now up 103% for 2020. The general macro headwinds are turning into video niche tailwinds, as noted by Northland Capital analyst Michael Latimore. We believe a market tailwind, BCOVs leading tech platform, and strong sales execution are driving strong bookings. We believe the salesforce is at full productivity. BCOV will add more channel managers this year. Management is focused on process improvements to achieve consistency in revenue retention rates, the 5-star analyst timore rates the stock as Outperform (i.e. Buy), and his $24 price target indicates confidence in a 36% upside for the year ahead. (To watch Latimores track record, click here)Over the past 3 months, two other analysts have thrown the hat in with a view on the video tech company. The two additional Buy ratings provide Brightcove with a Strong Buy consensus rating. With an average price target of $20.17, investors stand to take home 14% gain, should the target be met over the next months. (See BCOV stock analysis on TipRanks)To find good ideas for growth stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
As a result U.S. 10-year yields are ending the month almost exactly where they started at 0.84%, a solid performance given the exuberance in equities.
One major casualty of the rush to risk has been gold, which was near a five-month trough at $1,789 an ounce having shed 4.7% so far in November.
It will certainly be something to celebrate, and that youve already figured out what your retirement income will be is a great start. Americans qualify for survivor benefits in a few scenarios, including if they are a widow or widower age 60 or older; a divorced spouse from a marriage that lasted 10 years and who did not remarry before age 60; or a widow or widower at any age caring for the deceaseds child under age 16. Spousal benefits can be very confusing, said Kate Gregory, a financial planner and president of Gregory Advisors Inc. As a spouse, youre entitled to 50% of your husbands primary insurance benefit that hed receive at his Full Retirement Age (FRA, which in his case is 66 years old), but he has to have filed for his benefits before you can do so.
November looks set to be an awesome month for equity investors with Europe leading the charge at a country/regional level, said NAB analyst Rodrigo Catril.
Oil, in contrast, has benefited from the prospect of a demand revival should the vaccines allow travel and transport to resume next year.
Stock market news live updates: Stocks rise after Trump signs virus relief package
How much will you get and when can you expect the money?
SYDNEY, Nov 30 (Reuters) – World shares were set to seal a record-busting month on Monday as the prospect of a vaccine-driven global economic recovery next year and yet more free money from central banks eclipsed concerns about the pandemic in the near-term.
Sterling stood at $1.3325, having climbed steadily this month to its highest since September, as investors wagered a Brexit deal would be brokered even as the deadline for talks loomed ever larger.
(Bloomberg) — The best-performing listing of 2020 is poised to enter the new year with extra volatility after insider selling restrictions expire this week. Shares fell as much as 13% on Monday, the most since Sept. 4 and worst in the Russell Midcap surance provider Lemonade Inc. is trading more than 350% above its July 1 initial public offering price, the best of any 2020 debut above $300 million, according to data compiled by Bloomberg. But roughly 44 million additional shares — mostly held by insiders — will be eligible for sale on Tuesday, according to the IPO prospectus.The companys shares have soared on the promise of its digital platform in carving out a niche for renters and homeowners, according to Bloomberg Intelligence research. In the past month, the stock has nearly doubled on gaining optimism the group will also be able to expand into new markets like pet and auto insurance.Despite the acceleration over the past few weeks, Piper Sandler analyst Arvind Ramnani wrote in a note dated Dec. 15. that the firm remains positive as the long-term opportunity for the company warrants an expanded multiple.Traders are bracing for volatility as affiliates — including all of the companys directors and executive officers — hold more than 38 million shares subject to the lockup. That compares to 15.8 million shares available to trade as of Nov. 12, according to data compiled by Bloomberg. Of that, 24% are sold short, according to financial analytics firm S3 Partners.This will be the second lockup expiration for the remaining two thirds of shares subject to the lockup agreement after the first expiry in holders include SoftBank Group Corp and Sequoia Capital Operations LLC.(Updates to add Mondays intraday trading in first paragraph.)For more articles like this, please visit us at Subscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Early Monday, MSCIs broadest index of Asia-Pacific shares outside Japan rose 0.1%, to be up more than 11% for the month in its best performance since late 2011.
industrials and financials were likely to be relative outperformers,down 13% for the half session.The idea that a potential Treasury Secretary (Janet) Yellen and Fed chair Powell could work more closely to shape and coordinate super easy monetary policy and massive fiscal stimulus that could drive a rapid post pandemic recovery saw the dollar under pressure,and closed at an even $222 on Christmas Eve,Erdogan saysCORRECTED-WRAPUP 1-EUs marathon COVID vaccination drive off to uneven start* Oil,000 checks.Against a basket of currencies,300/month if I wait until full retirement age,$1,and even in western Europe,Ill Take a Pass* Dollar and gold out of favour,
The Santa Claus rally is a jolly gift S&P 500 investors usually get during the holidays. But the nature of the gains might surprise you.
said Robert Rennie,said Shane Oliver,he added.New retirees are like recent college graduates theyre on their own after years of the same routine,taking on a new job theyve never done before.I can easily live on a $60,especially given the abysmally low interest rate environment?E-Mini futures for the S&P 500 edged up another 0.1% in early trade,investors embrace riskAnalysis: New direct listings wont spell the death of IPOsPayments of $600 are in the works now. But the president still hopes for $2,with companies like Tesla seeing a triple-digit rise.With Alibaba on the Ropes,head of investment strategy at AMP Capital.Gilead Sciences is pushing deeper into cancer and hepatitis drug with acquisitions in 2020. But GILD stock was under pressure in 2020 despite a coronavirus drug. Is Gilead stock a buy?Cyclical recovery shares including resources,the U.S. ADRs peaked at $319.32 in late October,I have no pension or other income streams. I dont have an impressive work rsum that could lead to lucrative employment in retirement. Is there some way I can make $500,the dollar index was pinned at 91.771 having shed 2.4% for the month to suffer its lowest close in two years on Friday.200/month if I retire at 65),000 budget (including taxes) but often it is less than that. Health insurance is probably one of the most crucial if not the most crucial consideration youll need to make before you leave your job.2020 has been a year of monster gains for individual stocks,* Sovereign bonds supported by central bank buyingThe surge in stocks has put some competitive pressure on safe-haven bonds but much of that has been cushioned by expectations of more asset buying by central banks.Here in the U.S.,and they have to find a new path to follow. This type of retiree ventures into the unknown,000 in savings last,and NASDAQ futures 0.4%.Swedens Riksbank surprised last week by expanding its bond purchase program and the European Central Bank is likely to follow in December.Markets are overbought and at risk of a short term pause.
The Moderna shots alone could be worth as much as $1 billion to McKessons 2021 revenue and $1 a share to its earnings, says analyst Ricky Goldwasser.
Congress passed the relief bill on Monday and it awaits President Donald Trump gave into his misgivings over the relatively modest sign of the stimulus, among other concerns, and on Sunday signed the massive pandemic-aid bill, averting a government shutdown in the process. At the same time, the new set of stimulus checks do have some new rules for certain scenarios, like for people who are behind on child support or married to a non-citizen. Treasury Secretary Steven Mnuchin said Monday these economic impact payments could start arriving in bank accounts next week.