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Owens & Minor: A Treacherous Path To 10% Returns (NYSE:OMI)

October 9, 2020

Introduction

On January 26, 2018, I wrote an article titled: “Owens & Minor, Inc.: Irresistible Yield, Irresistible Valuation” where I offered the company as an extremely undervalued Dividend Contender research candidate. I also pointed out that the company was in transformation. However, I underestimated what that transformation meant, at least over the short run.

I also pointed out that Owens & Minor was a reader’s request, and I quote: “Recently, I have had several requests to write an article about Owens & Minor, Inc. (OMI). I had not looked at this company in a while, and boy oh boy, was I surprised at what I found. Owens & Minor is on the “Dividend Contender” list produced by David Fish. Owens & Minor has raised its dividend for 20 consecutive years, which leaves it only five years away from “Dividend Champion” status. Therefore, I consider Owens & Minor a classic dividend

Vice presidential debate: Harris hits Trump over tax returns, asks president who he owes money to

October 8, 2020

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Democcratic vice presidential candidate Kamala Harris went after President Trump for not paying enough money in taxes, and questioned who he might owe money to.

“We now know because of great investigative journalism that Donald Trump paid $750 in taxes,” Harris said during Wednesday night’s vice presidential debate. “When I first heard about it, I literally said, ‘You mean $750,000?’ Nope $750.”

Harris was referring to a recent report by The New York Times, who obtained information on the president’s 2016 and 2017 taxes, both of which show he paid a total of $750 in federal taxes each year.

The Times also reported that he paid no federal income taxes for ten of the 15 years prior to winning the presidency in 2016, largely due to the fact that he reported financial loses greater than his income.

KAMALA HARRIS VOWS BIDEN WILL REPEAL TRUMP TAX CUTS ‘ON DAY ONE’

“We

The IRS says it still hasn’t opened more than 2 million returns this tax season

October 8, 2020

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TAXWATCH

a man wearing a suit and tie: IRS Commissioner Charles Rettig at a House Committee on Oversight and Reform hearing.

© Toni L. Sandys-Pool/Getty Images
IRS Commissioner Charles Rettig at a House Committee on Oversight and Reform hearing.

The Internal Revenue Service still has to process an estimated 2.5 million hard copy income tax returns within a pile of unopened mail that stands at 5.3 million pieces.

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That’s according to IRS Commissioner Charles Rettig, who testified Wednesday on the agency’s efforts to dig out from a mountain of unopened mail that accumulated during coronavirus-related IRS office shutdowns in the spring.

Rettig spoke to lawmakers, who have been getting an earful about the backlog. “We are hearing from our constituents right and left” about the status of returns and refunds, said Rep. Jody Hice, a Republican from Georgia.

Though there’s still a ways to go, the IRS has come a long way from the spring.

There was a time in the March and April period when the IRS

On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules

October 8, 2020

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Happy Wednesday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.

Donald Trump wearing a suit and tie: On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain

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On The Money: Trump gambles with new stimulus strategy | Trump cannot block grand jury subpoena for his tax returns, court rules | Long-term jobless figures rise, underscoring economic pain

See something I missed? Let me know at [email protected] or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: [email protected], [email protected] and [email protected]. Follow us on Twitter: @SylvanLane, @NJagoda and @NivElis.

THE BIG DEAL-Trump gambles with new stimulus strategy: President Trump is taking a huge political and economic risk by walking away from negotiations with Democrats on a coronavirus relief package just four weeks before the election.

Trump

Dow Futures Slip Lower As Trump Returns to White House

October 6, 2020

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The Tuesday Market Minute

Global stocks mixed as markets react to President Trump’s return to the White House from Walter Reed Medical Center.
Trump told reporters he was ‘feeling good’ following three days of treatment for his coronavirus infection, but doctors warned that the worst of his symptoms could still surface.
Treasury Secretary Mnuchin and House Speaker Pelosi set to resume stimulus talks Tuesday, but the infection of three GOP Senators with COVID-19 could delay ultimate vote for fresh fiscal support
Federal Reserve Chairman Jerome Powell speaks at 10:40 am Eastern time, with key central bank address from ECB and BoJ officials slated to follow Tuesday.
U.S. equity futures suggest a softer open on Wall Street ahead of redbook retail sales data at 8:55 am Eastern time and Powell’s webcast speech at 10:40 am Eastern time.

U.S. equity futures edged higher Tuesday, while benchmark Treasury bond yields pushed to multi-month

JGBs fall as risk-averse mood eases after Trump returns to White House

October 6, 2020

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TOKYO, Oct 6 (Reuters) – Japanese government bond prices dropped on Tuesday as investor risk aversion, triggered on news of U.S. President Donald Trump’s COVID-19 infection, eased after he returned to the White House, assuaging fears over political uncertainty.

Benchmark 10-year JGB futures 2JGBv1 fell 0.16 point to 151.92, with a trading volume of 21,214 lots.

The 10-year JGB yield JP10YTN=JBTC rose 1.5 basis points to 0.035%, the highest level unseen since Sept. 11.

In the super-long zone, the 20-year JGB yield JP20YTN=JBTC rose 1 basis point to 0.410%, also marking the highest level since mid-September.

The Ministry of Finance’s sale of 30-year JGBs attracted bids 3.51 times the offer of 900 billion yen ($8.52 billion), in line with bid-to-cover ratio of 3.50 at the previous auction in September.

The auction’s tail, the gap between the lowest and average prices, slightly narrowed to 0.14 from 0.16 last month.

However, the

GLOBAL MARKETS-Asian stocks at 2-week high as Trump returns to White House

October 6, 2020

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By Alun John and Tom Westbrook

SINGAPORE, Oct 6 (Reuters) – Asian stock markets advanced to a two-week high on Tuesday after U.S. President Donald Trump was discharged from hospital following treatment for COVID-19 and as prospects for a fresh U.S. stimulus package appeared to brighten.

Bonds and the dollar nursed losses amid the improving risk appetite, while oil extended gains.

Trump returned to the White House on Monday after a three-night hospital stay and said he felt “real good”, though one of his doctors cautioned that he may not be out of the woods yet.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.71% to a two week-high, led by Hong Kong .HSI climbing 0.88%. Japan’s Nikkei .N225 also added 0.41%.

Separately, U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by phone for about an hour and were preparing to talk again Tuesday,

Stock Markets Higher as Trump Returns to White House | Investing News

October 6, 2020

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SINGAPORE (Reuters) – Asia’s stock markets edged higher on Tuesday, cautiously adding to gains made with an improvement in both U.S. President Donald Trump’s health and prospects for a U.S. stimulus package, while bonds and the dollar nursed losses.

Trump returned to the White House on Monday after a three-night hospital stay for treatment for COVID-19 and said he felt “real good”.

Meanwhile U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by phone for about an hour and were preparing to talk again Tuesday, continuing their work towards a deal on coronavirus relief spending.

S&P 500 futures

traded steady early in the Asian session, after the best daily gain on the S&P 500 index <.SPX> in a month overnight. Oil held sharp overnight gains.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2% to a two-week high. Japan’s Nikkei <.N225> rose 0.4%. South Korea’s Kospi <.KS11>

Trump returns to Minnesota to raise money, rally supporters

October 1, 2020

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MINNEAPOLIS — Five weeks ahead of the election, President Donald Trump was back in Minnesota Wednesday to headline a GOP fundraiser in Shorewood and lead an evening rally in Duluth.

a group of people sitting at a dock: US President Donald Trump speaks with supporters as he arrives at Minneapolis Saint Paul International Airport in Minneapolis, Minnesota, on September 30, 2020.

© MANDEL NGAN/AFP/Getty Images North America/TNS
US President Donald Trump speaks with supporters as he arrives at Minneapolis Saint Paul International Airport in Minneapolis, Minnesota, on September 30, 2020.

Trump arrived at the fundraiser at the Lake Minnetonka home of Cambria President and CEO Marty Davis about 5 p.m. and stayed for 90 minutes.

According to a Republican National Committee official, the event is expected to bring in $7 million for Trump Victory, a joint fundraising committee run by and benefiting the Trump campaign and the party. Davis is a GOP donor who has led efforts to urge Walz to reopen more of the economy during the COVID-19 pandemic.

Among those greeting him at the Minneapolis-St. Paul International Airport

3 Best-Ranked USAA Mutual Funds for Marvellous Returns

September 30, 2020

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USAA Investment Management Company allocates assets across a wide range of mutual fund categories, including equity and fixed-income funds. The company seeks to follow military values — Service, Loyalty, Honesty and Integrity — to offer financial services such as brokerage services and discretionary asset management. Founded 40 years ago, the company aims to offer the best options at low initial investments and reasonable entry points.

Last year, Victory Capital Holdings, Inc. acquired USAA Asset Management Company. This comprises USAA’s Mutual Fund and ETF businesses and its 529 College Savings Plan. As of Aug 31, 2020, Victory Capital Holdings, Inc. had $136.8 billion in assets under management.

Below we share with you three top-ranked USAA mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy) and is expected to outperform peers in the future. Investors can click here to see the complete list of funds.

USAA Managed Allocation