October 6, 2020 - Zxcoachoutlet

4 Value Stocks Offering 100%+ Growth This Year

October 6, 2020

We are officially in the final quarter of the year and awaiting earnings announcements for the third quarter.

So before getting into the whys and wherefores of what companies did in the last quarter, as we will be doing in a few days from now, it’s important to bear in mind that things haven’t been as bad as feared. That’s not just in tech, which benefited from the whole disruption, but also in many other areas.

It was already indicated in the recently-released non-farm payroll numbers from the Bureau of Labor Statistics (BLS) that the biggest job gains in September occurred in leisure and hospitality (318K), retail trade (142K), health care and social assistance (108K), and in professional and business services (89K).

Yesterday’s ISM report for Services appeared to support those estimates. Accordingly, the ISM non-manufacturing activity index rose to 57.8 last month, up from 56.9 in August and just

GE hit with SEC ‘Wells notice’ over massive insurance losses

October 6, 2020

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Boston-based GE first disclosed the government investigation into its accounting practices in 2018, after a multibillion-dollar underestimate of its insurance business created a shortfall in its reserves. At the time, then-Chief Financial Officer Jamie Miller said on a conference call with analysts, “There’s nothing here I‘m overly concerned about.” The SEC also delved into how GE recognized revenue from long-term service agreements for the maintenance of industrial equipment, including power plants and jet engines.

In a statement Tuesday to The Washington Post, GE said it has “fully cooperated with the SEC’s investigation,” adding, “We strongly disagree with the recommendation of the SEC staff and will provide a response through the Wells notice process.” GE said it is providing documents and other information requested by the SEC.

The SEC declined to comment.

GE will be given an opportunity to make a case against enforcement. But if the government proceeds, it could

GE Is Still Haunted by a ‘$15 Billion Problem’

October 6, 2020

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The government hasn’t officially accused GE of wrongdoing. Tuesday’s update is more procedural in nature, and the company now has the opportunity to respond to issues raised by SEC staff before the agency formally decides to pursue an enforcement action. What that might ultimately look like ranges from monetary penalties to restated financials or even added governance and operational guardrails meant to prevent future violations. In a statement, GE said it “has fully cooperated with the SEC’s investigation related to past reserve practices at our run-off insurance subsidiary, as we have disclosed since 2018. We strongly disagree with the recommendation of the SEC staff and will provide a response through the Wells notice process.”

GE CEO Larry Culp has now been in his job for two years. It’s been a difficult slog, made only more so by a global pandemic that crippled the company’s crown-jewel aviation unit and stilted progress

Democrat’s personal scandal roils N. Carolina Senate race

October 6, 2020

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RALEIGH, N.C. (AP) — A race in North Carolina critical to control of the U.S. Senate has been thrown into turmoil over allegations of personal misconduct by Democrat Cal Cunningham, a married man who had an extramarital relationship with a consultant.

Previously undisclosed text messages obtained by The Associated Press and additional interviews show that the relationship extended beyond suggestive texts to an intimate encounter as recently as July.

Republicans hold a 53-47 majority in the Senate, and the contest between Cunningham and Republican Sen. Thom Tillis has been among the most watched in the country, with polls showing a tight race and both parties investing heavily in the outcome.

Cunningham’s personal indiscretion offers a fresh test of whether voters will punish candidates for their private, consensual activity, and the answer they deliver could determine which party wields power in the Senate. The chamber has been a bulwark for Republicans

These Top Stocks Are Just About To Update The Market. Is Now The Time To Invest?

October 6, 2020

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Stock exchange market concept, hand trader touching on smartphone with graphs analysis candle line on bokeh colors light in night atmospheric city. — getty

These three UK shares are set to furnish the market with trading updates in the days and weeks ahead. Should you buy them ahead of these fresh statements? Here I take a look.

Robert Walters

It’s unsurprising that multinational recruitment specialist Robert Walters has seen its share price collapse in 2020. Since trading started on New Year’s Day its stock has lost a jaw-dropping 32% of its value as the global economy has suffered a Covid-19 shock.

I worry, too, that this most cyclical of shares could be in for a significant period of bottom line pressure. And that third-quarter financials slated for this week (Thursday, 8 October) could exacerbate market fears and prompt a fresh share price slump. Robert Walters certainly spooked in July when it declared that revenues tanked 22% in the first six months of 2020.

Latest research from Manpower Group
MAN
illustrates the scale of

Finance Sharpens Its Attack Against New Jersey’s Tax on Trading

October 6, 2020

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(Bloomberg) — The financial-services industry stepped up its battle against a proposed tax on high-speed trading in New Jersey, calling the idea bad for individual investors.

© Photographer: Spencer Platt/Getty Images North America
NEW YORK, NY – JULY 30: People are reflected in the window of the Nasdaq MarketSite in Times Square on July 30, 2018 in New York City. As technology stocks continued their slide on Monday, the Nasdaq Composite dropped 1.1 percent in afternoon trading with shares of Facebook, Netflix, Amazon and Google-parent Alphabet all declining. (Photo by Spencer Platt/Getty Images)

The tax would hurt pension funds and people who invest in financial markets for savings, according to letters from more than two dozen industry trade groups including the Securities Industry and Financial Markets Association and the Financial Services Institute. The plan “would effectively represent a sales tax on investors,” the groups said in the letters to lawmakers.

Welltower CEO Resigns | Nasdaq

October 6, 2020

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One of the top names in healthcare real estate investment trusts (REITs) has changed its leadership.

On Monday after market hours, Welltower (NYSE: WELL) announced that its CEO and chairman of the board of directors, Thomas DeRosa, has stepped down from both positions. Company insider Shankh Mitra has replaced him as CEO, and real estate sector veteran Kenneth Bacon takes his place as chairman. All of these moves were effective Monday.

Welltower didn’t provide a detailed reason for the departure of DeRosa, who had served as the REIT’s leader for over six years. In its press release announcing his resignation, the company quoted him as saying vaguely that “the Board and I have decided that now is the right time for me to hand the reins to Shankh.”

Image source: Getty Images.

Mitra, who most recently served as Welltower’s chief investment officer, has been an executive at the REIT since

Oil Stocks: Peak Herd Mentality

October 6, 2020

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The decline in the Energy sector seen over the past few years rivals the crashes seen in the Technology sector in 2000-2002 and the Financial sector in 2007-2009. What is more, the energy sector’s declines have come amid a strong rally in the broader market. As a result, the sector’s share of the U.S. market has declined far more than was the case for Tech or Financials, falling a breathtaking 87% since its 2008 peak.

Source: Bloomberg, Author’s calculations

Falling oil prices and the resultant decline in sales and earnings explain only a part of the energy sector’s decline, with pessimism over the future of fossil fuels causing investors to extrapolate the deterioration in the sector’s fundamentals. Our take is that herd mentility has caused investors to be overly pessimistic about the death of fossil fuels, making the 7.5% forward dividend yield on the MSCI Energy index among the best

Dow drops 370, Trump says ‘stop negotiating’ stimulus, airlines hit hard

October 6, 2020

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Stocks close near session lows

The market was unable to erase its sharp fall during the final hour of trading and finished near session lows. The Dow lost 378 points, or 1.3%. The S&P 500 fell 1.4%, and the Nasdaq shed 1.6%. — Jesse Pound

Trump tweets spark 600-point drop

President Trump’s tweets about stopping the stimulus negotiations triggered a drop in the Dow of roughly 600 points and a sharp reversal in the other major indexes. The S&P 500 fell from roughly 3,430 to about 3,356. — Jesse Pound, Nate Rattner

Pelosi says Trump is ‘putting himself first at the expense of the country’

House Speaker Nancy Pelosi slammed President Donald Trump’s decision to call off coronavirus relief talks, saying he’s “unwilling to crush the virus” and is “putting himself first at the expense of the country.”

“Today, once again, President Trump showed his true colors: putting himself first

Airline stocks fall sharply on Trump move to end to stimulus talks

October 6, 2020

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By David Shepardson and Tracy Rucinski

WASHINGTON/CHICAGO, Oct 6 (Reuters) – Shares of major airlines fell on Tuesday after U.S. President Donald Trump said his administration would abandon talks with congressional Democrats over proposals to spend at least $1.6 trillion in additional coronavirus relief funds.

A key component was a new $25 billion bailout for U.S. passenger airlines to keep tens of thousands of workers on the job for another six months. A prior $25 billion airline payroll support program expired on Sept. 30.

American Airlines AAL.O, whose shares had been trading higher, reversed course to close about 4.5% lower after Trump’s tweet on ending talks, while shares of United Airlines UAL.O closed 3.6% lower. Southwest Airlines LUV.N stock fell 2.4% and Delta Air Lines DAL.N shares closed 2.9% lower.

American Airlines and United Airlines last week began laying off 32,000 workers, but had said they would reverse

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