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The stock market is sending signals that a Biden-led blue wave is getting less certain, says one Wall Street strategist

October 14, 2020 | technology | No Comments

While the polls suggest a blue wave victory is in reach for Democrats this November, the stock market isn’t so sure, according to a note from Evercore ISI.
Wall Street strategists have been forecasting that a blue wave would likely be positive for stocks on hopes of a large stimulus deal shortly after the election, which would help spur a surge in value and cyclical stocks.
But this week’s rotation out of value and into tech suggests that chances of a blue wave in November are less likely, according to the note.
Visit Business Insider’s homepage for more stories.

Wall Street is increasingly expecting a blue wave victory for Democrats this November after the polls close, which would likely lead to the reflation trade: a surge in cyclical and value stocks at the expense of technology and growth stocks.

But recent trading activity in the stock market suggests

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Looking for a Growth Stock? 3 Reasons Why Progress Software (PRGS) is a Solid Choice

October 14, 2020 | software | No Comments

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market’s attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, it’s pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company’s real growth prospects.

Our proprietary system currently recommends Progress Software (PRGS) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently

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Loop Industries Drops – Hindenburg Makes Claims, Shorts Stock

October 13, 2020 | technology | No Comments

Shares of Loop Industries (LOOP) – Get Report lost a third of their market value on Tuesday after the activist investment group Hindenburg published a report lambasting the plastics-recycling company and said it took a short position.

The investment firm said it interviewed former employees, competitors, industry experts and company partners as part of its investigation and concluded that Loop is “smoke and mirrors with no viable technology.”

Loop, Terrebonne, Quebec, didn’t immediately return a request for comment.

Former employees told Hindenburg that Loop operated two labs, one reserved for its “two twenty-something lead scientist brothers and their father” and one run by rank-and-file scientists who were unable to replicate results.

The investment firm said that a Loop employee told Hindenburg that scientists were pressured by Chief Executive Daniel Solomita to “lie about the results of the company’s process internally. We have obtained internal documents and photographs to

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Stock Market Today With Jim Cramer: Apple Event Is Tuesday

October 12, 2020 | technology | No Comments

Stocks rose Monday as investors remained hopeful of further fiscal stimulus and prepared for quarterly earnings reports from the biggest banks in the United States.

Technology shares such as Apple (AAPL) – Get Report, which rose ahead of its expected iPhone 12 unveiling Tuesday, and Amazon (AMZN) – Get Report, which gained ahead of the start of its Prime Day event, were the standouts.

TheStreet’s Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about his expectations from Prime Day, why stocks popular on Robinhood matter and what to expect from Apple’s iPhone event tomorrow.

Amazon Prime Day

Amazon’s shopping extravaganza starts at midnight on Oct. 13. The company says that more than a million deals will be offered in 19 countries during the event.

Cramer said he hopes Amazon will have a better product line up for Prime

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Warren Buffett bought Microsoft stock after meeting Bill Gates and made a $37 billion acquisition thanks to a chance encounter. Here are his 10 best quotes from an interview in a new book.

October 11, 2020 | technology | No Comments

Warren Buffett wearing a suit and tie: Warren Buffett, co-chair of the 10,000 Small Businesses Advisory Council, takes part in a panel discussion following a news conference announcing a $20 million partnership to bring Goldman Sachs' 10,000 Small Businesses initiative to the city of Detroit, Michigan, November 26, 2013. REUTERS/Rebecca Cook

© REUTERS/Rebecca Cook
Warren Buffett, co-chair of the 10,000 Small Businesses Advisory Council, takes part in a panel discussion following a news conference announcing a $20 million partnership to bring Goldman Sachs’ 10,000 Small Businesses initiative to the city of Detroit, Michigan, November 26, 2013. REUTERS/Rebecca Cook

Warren Buffett gave investing advice to Bob Woodward, purchased Microsoft stock after meeting Bill Gates, and struck a $37 billion deal thanks to a chance meeting, he told David Rubenstein in “How to Lead: Wisdom from the World’s Greatest CEOs, Founders, and Game Changers.”
The famed investor and Berkshire Hathaway CEO also touched on railroads, his annual shareholder letters, his retirement plans, and his company’s future in the interview with the co-executive chairman of The Carlyle Group.
Scroll down to read Buffett’s 10 best quotes from the discussion.
Visit Business Insider’s homepage for more stories.

Warren Buffett gave investing advice to investigative journalist

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Apple This Week: Stock Finds Its North

October 10, 2020 | technology | No Comments

Apple seems to have got into its stride. But it took a bit for the stock to find a north.

After a sharp decline in the first half of September, shares bounced around $107 per share for a moment. In the past two weeks, however, the stock has rallied back to mid-August levels. The past five trading days have been particularly good for Apple, even if the S&P 500 managed to climb even higher – see chart below.

Two distinct halves

Apple shares started the week trading sideways to lower. Tuesday was a particularly eventful day for the stock, when several developments converged: the speech by the Fed’s Jerome Powell, Trump’s decision to halt fiscal stimulus negotiations with Congress (which lasted only a few hours), the announcement of the iPhone 12 event, and the House antitrust panel’s report on Big Tech.

Here are the bullish factors pushing Apple

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Roku Stock Is a Winner, But How Much Higher Can It Go?

October 10, 2020 | technology | No Comments

Momentum appears to be firmly in Roku’s (ROKU) favor right now. The OTT leader’s stock closed the week at an all-time-high, and one analyst once again raised his bull-case price target for the stock.

Deutsche Bank analyst Jeffrey Rand reiterated a Buy rating on Roku shares and increased the price target from $185 to $235. (To watch Rand’s track record, click here)

What’s behind the positive assessment? Rand’s explanation is simple and clear.

“We have become more positive on Roku as consumers continue to stream more content due to the pandemic and advertisers appear to be spending again after pausing/delaying advertising in 2Q,” the analyst said. “Additionally, we believe concerns about Roku losing its role as the go-to platform for all content have diminished with the agreement of a deal with NBC/Peacock and we continue to believe a deal with HBO Max gets worked out in the

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Asana Stock Is Overvalued, Bernstein Analyst Says

October 9, 2020 | software | No Comments

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The market Asana serves is “somewhat commoditized,” according to Bernstein analyst Zach Chrane.

Gabby Jones/Bloomberg

If you were thinking of buying shares of

Asana,

the project-management software company that just came public via a direct listing on the New York Stock Exchange, you might want to think again.

Bernstein analyst Zach Chrane picked up coverage of Asana (ticker: ASAN) late Thursday with an Underperform rating and $19 target price. The company opened for trading last week at $27, after the NYSE set a reference price” on the stock of $21. Near midday on Friday, the stock was off about 1% to $26.27.

Chrane’s assessment is that there’s nothing all that special about Asana’s software. The company declined to comment on the report.

“Asana provides a project management SaaS [software as a service] solution for relatively basic functions, in a market that is somewhat commoditized, in which we

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IBM stock is going through a transformative period: Market analyst

October 9, 2020 | technology | No Comments

IBM shares soared after the company announced plans to spin off its IT infrastructure unit to focus on its cloud computing business.

But even with Thursday’s surge, the stock still trades at a valuation far below its peers. IBM’s 11 times forward price-to-earnings ratio is cheaper than the XLK tech ETF’s 25 times multiple and the SKYY cloud ETF’s 35 times multiple.

This could be the beginning of a major transformative period for the company, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Thursday. He compared new IBM CEO Arvind Krishna to Microsoft CEO Satya Nadella’s leadership.

Nadella, Microsoft’s chief executive officer since 2014, has overseen the company’s own shift to cloud services. Revenue in Microsoft’s cloud business increased 17% to $13.4 billion in its fourth quarter ended June, accounting for more than one-third of overall sales. IBM’s cloud business generates 30% of total revenue.

“What

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Amazon Prime Day

Two distinct halves

The market Asana serves is “somewhat commoditized,” according to Bernstein analyst Zach Chrane.