Soaring Archives - Zxcoachoutlet

BlackRock is soaring as investors plow money into ETFs

October 13, 2020

BlackRock, the owner of the wildly popular iShares family of exchange-traded funds and the world’s largest asset manager, has gotten even bigger during the Covid-19 pandemic. BlackRock said Tuesday that it now has $7.8 trillion in assets under management, a 12% increase from last year.

a man in a cage: A pedestrian wearing a protective mask walks past BlackRock Inc. headquarters in New York, U.S, on on Thursday, July 9, 2020. BlackRock is scheduled to release earnings figures on July 17. Photographer: Jeenah Moon/Bloomberg via Getty Images

© Jeenah Moon/Bloomberg/Getty Images
A pedestrian wearing a protective mask walks past BlackRock Inc. headquarters in New York, U.S, on on Thursday, July 9, 2020. BlackRock is scheduled to release earnings figures on July 17. Photographer: Jeenah Moon/Bloomberg via Getty Images

The continued allure of passively managed index funds is a big reason why BlackRock is thriving during these volatile times for the market. BlackRock said that iShares raked in $2.3 trillion in assets during the third quarter — and nearly 70% of that total was for stock funds.

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BlackRock disclosed the numbers in its latest earnings report Tuesday. Revenue and profit easily

Soaring commercial auto insurance rates, onerous conditions ‘killing us,’ small businesses say

October 13, 2020

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For more than five years, Frank Hunt’s moving company has been a pillar of his community in Barrie, Ont., but he says his award-winning business is now on its knees — and he blames his insurance company.

“They’re killing us. They’re literally shutting down the business,” he told CBC News. He says onerous demands from his insurer have led to a loss of about 75 per cent of his revenue.

Hunt, 73, says his company pays about $10,000 for commercial vehicle insurance each year. He says there have been no claims or accidents. “Not even a broken windshield,” he said.

His problems began in May, when his insurer suddenly demanded his drivers upgrade their licences to beyond what Ontario’s Ministry of Transportation requires. He and his drivers are legally allowed to drive the company’s five-ton moving trucks with a basic G licence.

“This year, the insurance company comes up with,

Xpeng’s Deliveries Jumped. Now the EV Stock Is Soaring.

October 6, 2020

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News from the Chinese electric-car maker

Xpeng

that its vehicle deliveries in the third quarter were up 266% year over year pushed the stock higher. That isn’t the only factor behind the gain.

Xpeng (ticker: XPEV) shares picked up their second Buy rating Monday morning, this time from Bin Wang, a Hong Kong-based analyst at Credit Suisse. He now rates shares the equivalent of Buy and has a $21 price target for the stock.

J.P. Morgan analyst Nick Lai also rates Xpeng shares Buy. His price target is $27 a share. Shares climbed 10.2% to $20.04 on Monday.

In addition to his positive call on Xpeng, Wang also rates

NIO

(NIO) shares at Buy and has a $25 price target. He rates

Li Auto

(LI) stock Hold, with a $16 price target for that security. Xpeng, NIO, and Li Auto are three pure-play EV start-ups selling

Fire chiefs step into row over soaring insurance costs for high-rise flats

October 6, 2020

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Fire chiefs have intervened in the financial crisis affecting hundreds of thousands of high-rise leaseholders by urging insurers to think twice before they hike premiums on towers with fire safety problems.

a sign on the side of a building: Photograph: Anselm Ebulue/Getty Images

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Photograph: Anselm Ebulue/Getty Images

With some leaseholders facing increases of up to 1,200% in building insurance and others unable to get any cover, the National Fire Chiefs Council has met the Association of British Insurers to argue for a “more informed approach”. The fire chiefs are concerned that insurers have been increasing premiums sharply regardless of the degree of danger uncovered in the wake of the Grenfell Tower.

a sign on the side of a building: More than 70 people died in the Grenfell Tower disaster of 2017 but many other buildings are still covered in dangerous cladding.

© Photograph: Anselm Ebulue/Getty Images
More than 70 people died in the Grenfell Tower disaster of 2017 but many other buildings are still covered in dangerous cladding.

One group of leaseholders at the M&M buildings in London saw their premium rise from £100,000 to £700,000, increasing

Lennar Stock Is Soaring. Insiders Have Stepped Up Sales.

October 3, 2020

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Home builder Lennar shares traded to record highs in the past week. Executives and directors... — Home builder Lennar shares traded to record highs in the past week. Executives and directors have sold far more stock this year than last year.

Travis Dove/Bloomberg

Lennar

stock has soared to a record high, and insiders have dramatically stepped up sales of the home builder’s shares. Lennar executives and directors have sold more than $41 million of stock thus far in 2020, compared with $5.7 million in all of last year.

Lennar’s (ticker: LEN) Class A and B shares have both soared more than 50% year to date through Friday’s close, more than twice the rise in the

S&P Homebuilders Select Industry Index

(SPHOME), and trouncing the 3.6% gain in the

S&P 500 index,

a broad measure of the market. Lennar wasn’t a slouch in 2019, either. Class A and B shares both rose about 43%. That was just ahead of the 40% rise in the S&P

Why Lonestar Is Soaring 100%

October 2, 2020

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Lonestar Resources (NASDAQ:LONE) is an unlikely winner on Friday. Days after filing for Chapter 11 bankruptcy, LONE stock is up more than 100% in intraday trading. What is driving this move?

Texas-based Lonestar perhaps unsurprisingly deals with oil and gas. Its more than 50,000 net acres primarily are in the Eagle Ford Shale region of the state. However, it is that very identity that has made 2020 so rough. Since the start of the novel coronavirus pandemic, oil and gas companies have struggled. Demand is down along with manufacturing activity and the economy, and oil prices have struggled. Making matters worse was a price war between Saudi Arabia and Russia that flooded the market with cheap crude.

On the back of all that, Lonestar filed for bankruptcy at the end of

Why ADES Stock Is Soaring 25% Today

October 2, 2020

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Advanced Emissions Solutions (NASDAQ:ADES) news for Thursday includes a deal with Cabot Corporation (NYSE:CBT) sending ADES stock soaring higher.

graphical user interface, application: Advanced Emissions Solutions (ADES) website under a magnifying glass.

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Advanced Emissions Solutions (ADES) website under a magnifying glass.

A news release from Advanced Emissions Solutions reveals that it has signed a 15-year master supply agreement with Cabot Corporation subsidiary Cabot Norit America. The deal has it supplying the company with activated carbon products.

Advanced Emissions Solutions notes that this will have it acting as the sole supplier of lignite-based activated carbon products to Cabot Norit America. The deal also has the company taking over the Cabot’s lignite mine that supplies its facility on Marshall, Texas.

The Advanced Emissions Solutions news release says that these changes will result in incremental increases over the next four or five quarters.

Soaring wealth during pandemic highlights rising inequality

September 27, 2020

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WASHINGTON (AP) — Americans’ household wealth rebounded last quarter to a record high as the stock market quickly recovered from a pandemic-induced plunge in March. Yet the gains flowed mainly to the most affluent households even as tens of millions of people endured job losses and shrunken incomes.

The Federal Reserve said Monday that American households’ net worth jumped nearly 7% in the April-June quarter to $119 trillion. That figure had sunk to $111.3 trillion in the first quarter, when the coronavirus battered the economy and sent stock prices tumbling.

Since then, the S&P 500 stock index has regained its record high before losing some ground this month. It was up 2.8% for this year as of Friday. The tech-heavy Nasdaq has soared more than 20% this year.

The full recovery of wealth even while the economy has regained only about half the jobs lost to the pandemic recession underscores

Home builder Lennar shares traded to record highs in the past week. Executives and directors have sold far more stock this year than last year.