• The ODP Corporation Announces New Chief Technology Officer
    Business Wire

    The ODP Corporation Announces New Chief Technology Officer

    Office Depot appoints Terry Leeper as EVP and Chief Technology Officer.

  • Brokers Are Recommending These Stocks, And with Good Reason
    Zacks

    Brokers Are Recommending These Stocks, And with Good Reason

    Brokers are recommending these 5 stocks.

  • 3 Top Stocks Trading Under $10 a Share
    Motley Fool

    3 Top Stocks Trading Under $10 a Share

    Each of these companies has a strong business model and the potential for long-term growth. The first pick is Jumia (NYSE: JMIA), a troubled e-commerce company poised for a comeback. The second pick is Glu Mobile (NASDAQ: GLUU), a mobile game developer that can thrive amid the coronavirus pandemic.

  • The Zacks Analyst Blog Highlights: Zoom Communications, Fortinet, Qorvo, Zscaler and Dropbox
    Zacks

    The Zacks Analyst Blog Highlights: Zoom Communications, Fortinet, Qorvo, Zscaler and Dropbox

    The Zacks Analyst Blog Highlights: Zoom Communications, Fortinet, Qorvo, Zscaler and Dropbox

  • 5 High Earnings Yield Stocks for a Winning Portfolio
    Zacks

    5 High Earnings Yield Stocks for a Winning Portfolio

    Earnings yield is very important in comparing a stock with other stocks and with fixed income securities. A stock with higher earnings yield fetches better returns.

  • These 3 Value Stocks Are Absurdly Cheap Right Now
    Motley Fool

    These 3 Value Stocks Are Absurdly Cheap Right Now

    These companies have low P/E ratios and high dividend yields and investors stand to profit from that combination.

  • Business Wire

    Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

    Verastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology), a biopharmaceutical company committed to developing and commercializing new medicines for patients battling cancer, today announced the grant of options to purchase 20,000 shares of its common stock to two new employees. The awards were granted as an inducement material to the employees' acceptance of employment with Verastem Oncology in accordance with Nasdaq Listing Rule 5635(c)(4). The options have an exercise price equal to $1.68 per share, the closing price of Verastem Oncology's common stock as reported by Nasdaq on July 1, 2020. The stock options that were granted to the two new employees will vest at a rate of twenty-five percent (25%) on the one year anniversary of the employee's date of hire, with the remaining shares vesting quarterly over the next three (3) years in equal quarterly amounts, provided the employees continue to serve as employees of or other service providers to Verastem Oncology on each such vesting date.

  • As Big Oil Stumbles, Total Manages to Stay on Its Feet
    Bloomberg

    As Big Oil Stumbles, Total Manages to Stay on Its Feet

    (Bloomberg) -- Europe’s oil giants came into 2020 promising shareholders they can “do it all” -- maintain generous dividends, keep the crude flowing and make a historic shift toward clean energy. Only one of them may succeed.Since the coronavirus pandemic wiped out oil demand, Royal Dutch Shell Plc shocked investors with its first dividend cut since the Second World War, while BP Plc announced 10,000 jobs cuts and the sale of its chemical business as debt soared. But Total SA has so far weathered the storm, and investors are confident Chief Executive Officer Patrick Pouyanne can avoid his rivals’ stumbles.They see the French company as an early adopter of clean energy, with multi-billion investments in solar, wind and batteries, but also a rare haven in an industry shattered by the slump in energy prices.“Total has probably the best balance sheet among the majors,” having spent its money wisely in recent years, said Laurent van Tuyckom, who manages high-dividend funds at Degroof Petercam Asset Management in Brussels. “We’re much more cautious on other heavyweights of the industry.”Total has taken steps to mitigate the effect of the downturn. It has cut costs, suspended a plan to increase its dividend by 5% to 6% per year, halted share buybacks, and given investors the option of taking the final quarterly dividend for 2019 in shares instead of cash. It also announced a plan to eliminate 1,000 jobs in France at a petrochemicals unit, and potentially more abroad.Those measures will save $7.5 billion this year, meaning the company can fund its major oil and gas projects, invest as much as $2 billion in low-carbon assets and keep paying its dividend even if oil remains at about $40 a barrel, Pouyanne has said. The payout will rise again when the economic situation has normalized, maybe from 2022, he said.Asset managers are confident Total can maintain its payout until the markets starts to recover. Most investors seem to agree, as the French company has the lowest dividend yield among its European peers, even after Shell’s two-thirds cut.Its peers are not so well placed. Eni Spa’s dividend is “more challenged than most peers at lower commodity prices,” said Biraj Borkhataria, an analyst at RBC Europe Ltd. JPMorgan said a cut to BP’s dividend is “well flagged”, particularly after Shell’s cut in April.Total can defend its dividend “even in an adverse scenario which would see the barrel staying around $40” said Regis Longlade, deputy chief executive officer of AG2R La Mondiale Gestion d’Actifs, which owns shares in Total and Shell. “It’s one of the most robust investment case in the industry. Total has one of the lowest breakevens in the market.”Total now needs less than $25 a barrel to cover its annual expenditure excluding the dividend payment, a drop of more than 75% compared to what it needed back in 2014. It is benefiting from spending cuts initiated since the previous down turn five years ago and investments in low-cost barrels. Its upstream operating expenditure has almost halved since 2014 to $5.4 a barrel, the lowest among the five supermajors, according to Total. Its gearing -- a measure of indebtedness -- has also halved.Writedown WoesYet Total may not be immune to another feature of the current downturn -- multibillion dollar asset writedowns. Last month, BP announced as much as $17.5 billion of charges, its biggest in a decade, saying it expects the pandemic to accelerate the pace of transition to a lower carbon economy. Shell soon followed, warning that it expected a writedown of $15 billion to $22 billion.“BP has made a major step forwards with its writedowns and the issue of financial risks linked with fossil energies,” said Aurelie Baudhuin, head of socially responsible investing research at Meeschaert Asset Management. “That will inevitably spill over to the entire industry one way or another.”Total should follow that example, by giving more details on its roadmap to net zero emissions, and broaden its ambitions to incorporate a worldwide scope, said Baudhuin. Bruce Duguid, head of stewardship, EOS at Federated Hermes also wants Total to follow BP, which “recently changed their management and accounting assumptions to be consistent with a Paris-aligned outlook on demand.”More Work NeededPouyanne is keeping pace with his rivals in the transition to clean energy. While Shell has set the ambition of becoming the world’s biggest power producer in 2030, Total has spent billions on electricity assets and plans to have more than 25 gigawatts of gross renewable generation capacity by 2025. It is targeting carbon neutrality for all its production and energy products used by its customers in Europe by 2050 or earlier.Total bought French battery maker Saft Groupe SA in a 950 million-euro ($1 billion) deal in 2016. It further diversified into power in 2018 with the 2-billion euro acquisition of Direct Energie SA, France’s third-largest utility. It recently announced plans to build batteries for electric vehicles in France and China, expanded in the power sector in Spain, India and Qatar, and announced its first deal in offshore wind in the North Sea.All these factors make Total one of the most attractive investments in the industry, especially since it trades at a discount to its peers, said AG2R’s Longlade.“Its low breakeven, its gearing among the lowest in the industry, and the ability of its management to adjust quickly to the crisis would justify that Total trades at a premium,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Exclusive: CIMB alleges 'suspicious' Hontop Energy oil deals with BP - affidavit
    Reuters

    Exclusive: CIMB alleges 'suspicious' Hontop Energy oil deals with BP - affidavit

    Singapore's High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it described as 'suspicious' deals involving oil major BP <BP.L>, according to an affidavit filed with the court this week and reviewed by Reuters. Hontop, the trading arm of Chinese independent refiner China Wanda Holding Group Co Ltd, is one of four commodity trading firms in Singapore which ran into financial trouble as the oil price crashed.

  • Exclusive: CIMB alleges 'suspicious' Hontop Energy oil deals with BP
    Reuters

    Exclusive: CIMB alleges 'suspicious' Hontop Energy oil deals with BP

    Singapore's High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it described as 'suspicious' deals involving oil major BP <BP.L>, according to an affidavit filed with the court this week and reviewed by Reuters. Hontop, the trading arm of Chinese independent refiner China Wanda Holding Group Co Ltd, is one of four commodity trading firms in Singapore which ran into financial trouble as the oil price crashed.

  • Barrons.com

    Why Boeing Killed Its 747 Jumbo Jet

    Bloomberg reported Thursday that the commercial aerospace and defense giant (BA) is pulling the plug on its iconic 747 double-decker jumbo jet. “At a build rate of half an airplane per month, the 747-8 program has more than two years of production ahead of it,” a Boeing spokesperson told Barron’s. “We will continue to make the right decisions to keep the production line healthy and meet customer needs.” Not a lot compared with the more than 1,500 jumbo jets Boeing has delivered over time.

  • What A Biden Victory Could Mean For US Steel Industry
    Benzinga

    What A Biden Victory Could Mean For US Steel Industry

    U.S. steel stocks have had a tough run under President Donald Trump, but Bank of America analyst Timna Tanners says things might not get much better for steel stocks if presumptive Democratic nominee Joe Biden wins the White House in November.Biden now has a 20-point lead over Trump, according to the online prediction market PredictIt.org. While steel investors may assume a Democratic victory in November would result in the rollback of Trump's Section 232 steel and aluminum tariffs, Tanners said tariffs have historically been a nonpartisan issue. Both sides of the political aisle voiced concerns about Trump's steel tariffs.While the tariffs seemingly haven't done much to improve steel prices and margins during the Trump presidency, Tanners said Monday that removal of the tariffs at this point would have a negative impact on prices during a critical period for the industry in which it is overbuilding capacity.Other Political FactorsOne potential partisan headwind for the steel industry could be the fate of Trump's border wall with Mexico. Most of the pipe for the proposed border was expected to be delivered by the end of 2020. Tanners said Democrats would likely halt construction of the wall, but whether or not they would tear down and scrap what has already been built could have a major impact on near-term steel prices.Two additional major political catalysts could have a significant impact on the US steel industry, according to Tanners. First, Biden's plan to raise corporate tax rates from 21% to 28% would hurt steel stocks is Democrats gain control in Washington. However, a clean sweep by Democrats could also improve the chances that an infrastructure spending bill will be passed, a potential positive tailwind for steel demand.How To Play ItFor now, Tanners said investors should be careful in the U.S. steel space."Ultimately, a potential Democrat win would add to our already cautious thesis on most U.S. steel names," Tanners wrote in a note.Bank of America has Underperform ratings on Nucor Corporation (NYSE: NUE), Steel Dynamics, Inc. (NASDAQ: STLD) and United States Steel Corporation (NYSE: X). Bank of America has a $34 target for Nucor, a $23 target for Steel Dynamics and a $3 target for U.S. Steel.Benzinga's TakeAt this point, the U.S. steel group is a highly speculative space given the tremendous political risk and uncertainty regarding the election and the potential outlook in 2020 and beyond. Add in the uncertainty created from the COVID-19 outbreak and the trade war with China, and there are simply too many unknowns for investors to have much confidence in steel stocks these days.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:US Steel Analyst 'Very Concerned' About Liquidity Following Guidance Update Analyst: Vulcan, Martin Marietta Could Be T Infrastructure Spending Winners Photo credit: Petty Officer 1st Class Chad J. McNeeley, USNLatest Ratings for X DateFirmActionFromTo Jun 2020GLJ ResearchUpgradesSellHold May 2020UBSMaintainsSell May 2020TD SecuritiesMaintainsHold View More Analyst Ratings for X View the Latest Analyst Ratings See more from Benzinga(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Reuters

    China should adhere to international law over Hong Kong citizenship route - UK PM's spokesman

    Britain expects China to adhere to international law, a spokesman for Prime Minister Boris Johnson said on Monday when asked what London could do if Beijing prevents those in Hong Kong with British National Overseas (BNO) status from leaving. Britain has offered a path to citizenship for around 3 million people in Hong Kong, its former colony, after declaring that China had broken the terms of a 1984 handover treaty by imposing a new security law this week.

  • Financial Times

    Why the crisis marks the end of the road for longstanding business lines

    The future of public transportation will shortly be a thing of the past. Later this month, Segway will produce the last of the two-wheeled personal transporters after which the company was named. The Segway ...

  • Why Altria Stock Lost 21% in the First Half of 2020
    Motley Fool

    Why Altria Stock Lost 21% in the First Half of 2020

    Shares of Altria Group (NYSE: MO) have gone up in smoke this year as the domestic Marlboro maker fell early in the year after it took another impairment on its Juul Labs stake and then got slammed by the coronavirus pandemic. According to data from S&P Global Market Intelligence, the stock has slipped 21% through the first six months of the year. Altria began the year with Juul facing stiff headwinds as regulators sought to ban flavored e-cigarette pods, the latest setback for the once-promising cigarette disruptor, with the e-cigarette brand embroiled in a number of lawsuits at the state level.

  • Caesars Entertainment's Atlantic City Resorts Officially Welcomed Guests Back To Their World Famous Beaches, Boardwalk and Marina District
    PR Newswire

    Caesars Entertainment's Atlantic City Resorts Officially Welcomed Guests Back To Their World Famous Beaches, Boardwalk and Marina District

    Caesars Entertainment (NASDAQ: CZR) Atlantic City welcomed guests back to their world-famous resorts today at Caesars, Harrah's Resort and Bally's, in accordance with the New Jersey Governor's Executive Orders and all state directives, with a ribbon-cutting ceremony outside of Caesars' Boardwalk entrance on Friday, July 3.

  • Hamilton Special: 3 Hot Stocks Under $10
    Motley Fool

    Hamilton Special: 3 Hot Stocks Under $10

    Here are some stocks trading for less than that $10 bill that Alexander Hamilton is gracing. I'm not throwing away my shot.

  • Reuters

    Masmovil buyers secure first leveraged loan since COVID-19 crisis

    The private equity consortium behind the mooted acquisition of Spanish telecoms firm Masmovil has secured a 2 billion euro ($2.3 billion) loan towards that deal, helping revive a leveraged loan market that has taken a beating this year. The seven-year loan, which will be issued by Masmovil but go towards financing a bridge loan taken to fund its buyout by Cinven, KKR and Providence, priced late on Thursday, according to a document seen by Reuters.

  • This Is General Electric's Biggest Long-Term Problem
    Motley Fool

    This Is General Electric's Biggest Long-Term Problem

    The troubles that industrial icon General Electric (NYSE: GE) has been dealing with are headline grabbers. The biggest story has been its heavy debt load and the efforts to sell assets to get its balance sheet back into shape. The first really big issue for General Electric to deal with, without question, was its balance sheet.

  • Investing.com

    Crude Oil Lower; OPEC Disputes and Virus Cases Weigh

    Oil markets slipped Friday as the resurgence of Covid-19 cases, particularly in the U.S., the largest consumer in the world, threatened the recovery of crude demand. At 7:30 AM ET (1130 GMT), U.S. crude futures traded 1.2% lower at $40.15 a barrel. The U.S. has recorded around a quarter of the almost 11 million cases worldwide, according to data from Johns Hopkins University, and the number is growing rapidly.

  • Reuters

    Climate battles are moving into the courtroom, and lawyers are getting creative

    Climate change may be having its day in court. With the slow pace of international climate negotiations, lawyers from Switzerland to San Francisco are increasingly filing lawsuits demanding action. Today, that number is 1,600, including 1,200 lawsuits in the United States alone, according to data reported Friday by the London School of Economics.

  • Barrons.com

    3 Casino Stocks to Buy, Despite Covid-19 Concerns

    As Covid-19 cases rise around the country, investors betting on a casino resurgence may be pressing their luck. Still, there are some regional players worth buying, says Jefferies.

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