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Exclusive: Boeing in Talks With Alaska Airlines for Potential 737 MAX Order – Sources | Investing News

October 10, 2020

By Eric M. Johnson and Tracy Rucinski

SEATTLE/CHICAGO (Reuters) – Boeing Co

is in discussions to sell 737 MAX jets to Alaska Airlines once the plane returns to service following a lengthy grounding, three people familiar with the matter said.

The talks are part of a series of negotiations between Boeing and several airlines over jet orders or compensation after the 737 MAX was banned worldwide following two fatal crashes.

Boeing and Alaska Airlines, which is part of Alaska Air Group Inc

, declined to comment.

Any deal would be subject to U.S. Federal Aviation Administration approval of proposed 737 MAX safety upgrades.

Boeing shares were up 1.6% at $167.22 on Thursday afternoon, while Alaska Air stock was up 4.1% at $38.54.

Alaska Airlines already had ordered 37 of the jets before the grounding. If confirmed, a new order from such a major carrier would give Boeing’s 737 MAX a

Up 50%, American Express Stock Still Has Potential

October 7, 2020

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BRAZIL – 2019/03/10: In this photo illustration a logo of the United States financial services … [+] company American Express (Amex) seen displayed on a smartphone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

LightRocket via Getty Images

We believe that American Express’ stock (NYSE: AXP) has a strong upside potential of 30% in the near term. AXP trades at $104 currently and it has lost 15% in value year-to-date. It traded at a pre-Covid high of $136 in February and is 23% below that level now. Also, AXP stock has gained 52% from the low of $68 seen in March 2020, after the multi-billion dollar stimulus package announced by the U.S. government helped stock prices recover to some extent. That said, the stock is in sync with the broader markets (S&P 500 is up around 50%), as investors are hopeful about a recovery in consumer demand over the

Alexion Pharmaceuticals: More Potential Ahead Despite Upbeat Guidance (NASDAQ:ALXN)

October 7, 2020

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Investment Thesis

Fueled by chronic undervaluation despite the solid financials and a rich pipeline, Alexion Pharmaceuticals, Inc. (ALXN) has frequently been the subject of acquisition rumors as investors demand a sale of the company. Management has revised up the 2020 revenue guidance twice over the past three months, but the shares have underperformed the broader market in the year so far. The top line growth continued unabated even through a raging pandemic, and margins have also held up. The rivals are challenging the prospects, but proactive measures are in place to neutralize the threat.

The current NTM EV/EBITDA multiple stands at a sharp discount to the historical average, which, along with our conservative EBITDA forecast, based on revenue assumptions in line with the past, indicates an undervalued stock. Meanwhile, the strong cash flows and net cash position have attracted acquirers looking for growth at a cheap valuation. Amid acquisition rumors,

GE faces potential enforcement action over long-discontinued insurance business

October 6, 2020

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The Securities and Exchange Commission’s staff has advised General Electric that it is considering legal action against the company for possible violations of securities laws, found during the agency’s investigation into the way GE accounted for costs associated with its now discontinued long-term care insurance business.

GE disclosed on Tuesday that it received a “Wells notice” last week from the SEC’s staff t that they may recommend the full commission bring a formal complaint soon.

The SEC has been investigating several accounting issues at the Boston-based company, including the discontinued insurance business and GE’s revenue recognition practices, particularly with regard to long-term service agreements.

This Wells notice specifically refers to an investor update in January 2018, in which GE revealed it would take a $6.2 billion charge and contribute up to $15 billion to reserves over a seven-year period for its North American Life & Health business. The insurer had

Nigeria’s Insurance Market Offers Significant Potential Despite Headwinds

October 5, 2020

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Nigeria’s substantial oil and gas reserves, its young and growing population and its position as Africa’s largest economy continue to point to significant development potential for its insurance sector. However, Nigeria has failed to deliver on that potential historically due in part to the volatility of growth in the country’s real gross domestic product (GDP), coupled with the sporadic enforcement of mandatory retail insurance lines.

In a new Best’s Market Segment Report, “Nigeria’s Insurance Market Offers Significant Potential Despite Headwinds”, AM Best notes that, due to the COVID-19-driven economic slowdown, the insurance market regulator (National Insurance Commission [NAICOM]) has agreed to further delay its revised plans to strengthen market capitalisation and limit the volume of premium flowing out of the country.

NAICOM has now opted for a staggered approach that requires partial recapitalisation by December 2020, with market participants obliged to meet the full requirements by September 2021. AM

Altria: The Defensive Stock With More Than 20% Potential Gain

October 1, 2020

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We believe there may be a good opportunity with Altria stock (NYSE: MO) at the present time. MO trades at $39 currently and is in fact down 16% so far this year. It traded at a pre-Covid high of close to $44 in February, and is still 11% below that level now. MO stock has gained 33% from the low of $29 seen in March 2020, less than the S&P 500 which is up 50% from its March lows. MO stock has underperformed the broader market because the drop in the stock when the crisis hit was less than the market, as it belongs to the defensive sector of tobacco. That said, with the lockdowns being lifted, supply constraints are likely to ease leading to higher volume sold. Also, the expectations of rising sale of IQOS e-cigarettes in the US is likely to boost revenues and margins. This could take

Low-Risk REIT W. P. Carey Offers A 6.6% Yield And Substantial Upside Potential (NYSE:WPC)

September 29, 2020

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Article Thesis

W. P. Carey (WPC) is a REIT that operates in an attractive, low-risk niche of the industrial real estate sector. The company has generated solid growth in the past, and should be able to grow its funds from operations going forward as well. It offers reliable dividend growth and an attractive dividend yield of close to 7%, while shares also have upside potential of up to 50% over the next couple of years. The combination of these factors makes WPC worthy of a closer look.

Source: StockRover

Compared to its peers in the triple-net space, WPC has a below-average valuation (in terms of cash flow and EV/EBITDA), while also providing an above-average dividend yield. Last but not least, its valuation is on the lower end of the 5-year range, whereas many of its peers are trading above the historical valuation median.

WPC Is A Strong Triple-Net REIT In

Japan’s NTT eyes taking wireless unit Docomo private in potential $38 billion offer

September 29, 2020

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By Sam Nussey and Makiko Yamazaki

TOKYO (Reuters) – Japan’s Nippon Telegraph and Telephone Corp (NTT) said it is looking at taking full control of its wireless carrier business in a deal that could be worth around 4 trillion yen ($38 billion) and pave the way for price cuts in the sector.

The buyout will be discussed at a board meeting on Tuesday, NTT said in a statement following a Nikkei newspaper report on the matter. The value of the 34% of NTT Docomo Inc’s shares not owned by NTT is based on a 30% premium to Monday’s closing price, Reuters calculations showed.

FILE PHOTO: The logo of NTT Docomo is seen during its flagship shop's reopening event in Tokyo

© Reuters/TORU HANAI
FILE PHOTO: The logo of NTT Docomo is seen during its flagship shop’s reopening event in Tokyo

The move comes as Japan’s new prime minister Yoshihide Suga launches a fresh

Grocery stores, food producers beef up inventory for potential second wave of COVID-19, holiday shopping rush

September 27, 2020

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Fox Business Briefs: The first Amazon Fresh grocery store opening to invited shoppers in Woodland Hills, California; Costco bringing back its samples at some locations, however only dry and pre-packaged goods will be available for tasting.

Grocers are looking to beef up their inventory ahead of the upcoming holiday shopping season and in preparation for a potential second wave of COVID-19.

DINING ‘BUBBLES’ ARE THE LATEST CORONAVIRUS-ERA RESTAURANT TREND

According to the Wall Street Journal, Associated Food Stores has recently started building “pandemic pallets” to ensure cleaning and sanitizing products are readily available in its warehouses to prepare for high demand through the end of the year.

“We will never again operate our business as unprepared for something like this,” Darin Peirce, vice president of retail operations for the cooperative of more than 400 stores told the outlet.

In addition, Hy-Vee CEO Randy Edeker, who oversees a chain of more

Police reversal means Port Washington house will remain a home, not a potential parking lot

September 27, 2020

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Neighboring residents of the Port Washington Police District said they are “relieved” to hear that the district is selling a Derby Road property officials purchased months ago and considered turning into a parking lot.

“It’s a huge weight off our shoulders,” said James Marotta, who lives on the street. “Everyone is just grateful and ecstatic. … [It’s] a big relief.”

Marotta was among dozens of residents who criticized the police district for failing to inform neighbors of the $780,000 purchase in March of 4 Derby Rd., a property separated from the district’s headquarters on 500 Port Washington Blvd. by a 4-foot-tall fence. The residents also pushed police officials to drop their plan to build a parking lot on their residential block.

Earlier this month, officials said the district had no plans to expand its headquarters onto Derby Road and reiterated their need to revamp the aging headquarters built in 1959.