Tesla analyst cuts Model 3 forecast, now sees bear market in stock ahead

Lackluster demand and overseas Model 3 delivery problems will weigh on Tesla's first-quarter earnings results when the company reports in April, RBC Capital Markets warned clients Monday.

The brokerage cut its first-quarter Model 3 delivery forecast to 52,500 from 57,000 and slashed its price target to $210 from $245, a 14 percent reduction that implies more than 20 percent downside over the next year.

"We see both 2019 and 2020 revenue as down vs. the 4Q18 run-rate and, given Tesla is priced for growth, believe the valuation will come in," analyst Joseph Spak wrote in a note to clients. "Overall, for 2019 we now forecast about 261,000 Model 3 [deliveries], down from 268,000 prior. Our 2020 forecast of 347,500 remains unchanged."

Spak, who has an underperform rating on Tesla shares, predicts the electric car maker will post an adjusted loss of 64 cents per share, down from a prior estimate of a profit of 68 cents per share.

"Regionally, we assume 21,000 units in Europe, 6,000 to 7,000 in China and the remainder in North America," Spak wrote. "In China, some deliveries were delayed because of a customs issue."

The analyst cited recent price cuts to its popular Model 3 as evidence both of diminished demand and in reducing his earnings outlook.

"Our 2019 Model 3 average selling price is now $53,600, down from $55,500 prior – still stronger in the first half as Tesla fulfills higher-end demand internationally before lower priced models (which carry lower gross margin) kick in," Spak said.

Chief executive officer Elon Musk surprised some investors last month after he said Tesla will only sell cars online and that drivers will have up to a week to return their vehicles if they aren't satisfied. Of particular angst to some stakeholders, Tesla explained that moving sales online will allow the Model 3 to sell at the long-awaited base model price of $35,000.

However, Musk tweeted on Sunday that some prices on inventories would be rising.

"The larger part of potential demand for Tesla products is at a price point that we do not believe Tesla can be profitable," he added. "The company has begun to offer some of these price points, but we believe they will be dilutive to margins."

Tesla shares fell 2.1 percent in premarket trading Monday following the RBC note. The stock is already down 30 percent from it's recent 52-week high and 20 percent in 2019 alone.

Disclaimer

These people won't have their taxes ready by April 15

If there was ever a year in which you were likely to ask the IRS for more time, this is probably it.

Filers have four more weeks to submit their 2018 tax returns and sums owed to the IRS, as the April 15 deadline rapidly approaches.

This year is especially complicated, as it's the first time taxpayers are filing under the Tax Cuts and Jobs Act.

This overhaul of the tax code went into effect in 2018. It roughly doubled the standard deduction to $12,000 for singles ($24,000 for married filing jointly), eliminated personal exemptions and placed new limits on itemized deductions.

If you're overwhelmed by these changes and you have a complex return, it just might make sense to ask the IRS for an extension using Form 4868. This would give you until October 15 to submit your 2018 return.

This doesn't buy you more time to pay your taxes, though. You must pay the IRS by April 15.

Even the pros anticipate more people will ask for additional time.

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More than 4 out of 10 tax preparers polled by National Association of Enrolled Agents predict an increase in the number of requests for extensions. The group surveyed 924 of its members in February.

"The tax law is very confusing for a lot of people this year, and getting your mind to wrap around the new law might take more time," said Mike Slack, lead tax research analyst at the Tax Institute at H&R Block.

Here are some of the taxpayers who are most likely to request additional time to submit their return.

Filers awaiting a K-1 Hero Images | Getty Images

If you're a shareholder in an S-corporation, you won't be able to submit your individual income tax return until you get all of the necessary paperwork from your business.

S-corporations and partnerships send their shareholders a Schedule K-1 every year, detailing their share of income, deductions and credits.

Businesses have until March 15 to share this information with owners and shareholders, which can slow things down for taxpayers.

"If I'm in several partnerships, I have to wait for all of those K-1s to come in before I file my return," said Robert Kerr, enrolled agent and executive vice president at the National Association of Enrolled Agents.

Entrepreneurs taking this new break John Lund/Marc Romanelli | Getty Images

Business owners with pass-through entities — including sole proprietorships, S-corporations and partnerships — may be entitled for a new 20 percent deduction on qualified business income on their 2018 tax return.

Entrepreneurs with taxable income below $157,500 if single or $315,000 if married and filing jointly may qualify.

Limitations to the tax break kick in over those taxable income thresholds.

For instance, "specified service trades or businesses," including doctors, lawyers and accountants, can't take the deduction at all if their taxable income exceeds $207,500 if single, or $415,000, if married.

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The IRS has spent most of 2018 and part of January 2019 fine-tuning the deduction.

Even tax software providers have run into difficulty incorporating last-minute changes to the deduction, which led to some hiccups with accountants' tax prep programs.

"You have taxpayers who are in more complex situations with the impact of all of these changes, and it's causing practitioners to have to extend those returns more than they normally do," said Edward Karl, CPA and vice president of taxation for the American Institute of CPAs.

Itemizers on the fence Camille Tokerud | Getty Images

Generally, fewer people are expected to itemize on their returns this year, now that the new tax law raised the standard deduction.

However, your accountant might still want to review your statements and receipts to make sure this is indeed the case for you. After all, there's the possibility the total of your itemized deductions might exceed the $12,000 (single) or $24,000 (married and filing jointly) thresholds.

If you have to retrieve brokerage statements, acknowledgement letters from charities and more, then this might mean you'll need more time to file.

"It wouldn't shock me to hear that taxpayers thought they would take advantage of the higher-standard deduction," said Karl. "The practitioner is asking for specific information about itemized deductions to make sure they're not losing any advantages."

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The Coca-Cola’s (KO) Hold Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reissued their hold rating on shares of The Coca-Cola (NYSE:KO) in a research note released on Monday morning. They currently have a $46.00 target price on the stock.

Several other equities research analysts also recently commented on KO. Credit Suisse Group initiated coverage on shares of The Coca-Cola in a research note on Wednesday, March 6th. They issued a neutral rating and a $48.00 target price on the stock. Zacks Investment Research downgraded shares of The Coca-Cola from a hold rating to a sell rating in a research note on Friday, February 22nd. Morgan Stanley set a $48.00 target price on shares of The Coca-Cola and gave the company a hold rating in a research note on Friday, February 15th. ValuEngine downgraded shares of The Coca-Cola from a buy rating to a hold rating in a research note on Friday, February 15th. Finally, UBS Group restated a neutral rating and issued a $50.00 target price on shares of The Coca-Cola in a research note on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $50.60.

Get The Coca-Cola alerts:

Shares of The Coca-Cola stock opened at $45.70 on Monday. The firm has a market capitalization of $196.44 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.95 and a current ratio of 1.05. The Coca-Cola has a 52-week low of $41.45 and a 52-week high of $50.84.

The Coca-Cola (NYSE:KO) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.07 billion. The Coca-Cola had a net margin of 20.20% and a return on equity of 43.91%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS. Analysts expect that The Coca-Cola will post 2.09 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.40 per share. This is an increase from The Coca-Cola’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 3.50%. The Coca-Cola’s dividend payout ratio is 75.00%.

In other The Coca-Cola news, SVP Beatriz R. Perez sold 10,000 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $48.50, for a total transaction of $485,000.00. Following the transaction, the senior vice president now directly owns 92,645 shares in the company, valued at approximately $4,493,282.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Beatriz R. Perez sold 21,742 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $48.76, for a total transaction of $1,060,139.92. Following the transaction, the insider now owns 92,645 shares in the company, valued at $4,517,370.20. The disclosure for this sale can be found here. 1.33% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in KO. Norges Bank acquired a new position in The Coca-Cola during the 4th quarter valued at about $1,717,527,000. Capital International Investors lifted its position in The Coca-Cola by 81.9% during the 3rd quarter. Capital International Investors now owns 63,196,570 shares of the company’s stock valued at $2,919,050,000 after purchasing an additional 28,445,747 shares during the period. Oregon Public Employees Retirement Fund lifted its position in The Coca-Cola by 4,577.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,634,956 shares of the company’s stock valued at $415,000 after purchasing an additional 19,215,135 shares during the period. FMR LLC lifted its position in The Coca-Cola by 22.2% during the 4th quarter. FMR LLC now owns 61,139,629 shares of the company’s stock valued at $2,894,961,000 after purchasing an additional 11,126,961 shares during the period. Finally, BlackRock Inc. lifted its position in The Coca-Cola by 2.9% during the 4th quarter. BlackRock Inc. now owns 253,865,694 shares of the company’s stock valued at $12,020,541,000 after purchasing an additional 7,272,015 shares during the period. Institutional investors own 66.99% of the company’s stock.

The Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures and distributes various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant?based beverages; teas and coffees; and energy drinks. It also offers concentrates, syrups, beverage bases, source waters, and powders/minerals, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.

Featured Article: How to Track your Portfolio in Google Finance

Tesla Model Y hits right note by playing it safe

The ho-hum reaction to Tesla's new electric SUV is, oddly enough, exactly what the company needs.

Tesla CEO Elon Musk delivered no surprises Thursday night when he revealed the company's brand new electric SUV, the Model Y.

But for a company that needs a little less pizzazz and a little more substance to make good on its promise to become a sustainable force in the auto industry, the Model Y hit the right marks.

It's essentially a crossover version of the Tesla Model 3 compact car, bearing the design hallmarks of a hatchback and sharing the same architectural platform as its car sibling.

That Tesla devotees weren't rewarded with sizzling new features on the Model Y illustrates that the company is getting serious about selling vehicles.

After all, a compact SUV is precisely what Americans want: a driveable vehicle that puts safety first and flash second.

Versions with five and seven seats will be available, with starting prices ranging from $39,000 for the base version to $60,000 for a performance model.

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A handout photo made available by US automobile manufacturer Tesla, showing the new Tesla Model Y electric car. Model Y is an all-electric, mid-size SUV, starting at 39,000 USD for the standard version and 47,000 USD for the long-range version has a range of 300 miles. Tesla via EPA-EFEFullscreenTesla CEO Elon Musk jokingly motions to kick before introducing the Model Y at Tesla's design studio Thursday, March 14, 2019, in Hawthorne, Calif. The Model Y may be Tesla's most important product yet as it attempts to expand into the mainstream and generate enough cash to repay massive debts that threaten to topple the Palo Alto, Calif., company. Jae C. Hong, APFullscreenTesla CEO Elon Musk walks beside the new Tesla Model Y at its unveiling in Hawthorne, Calif. on March 14, 2019. Tesla introduced a new electric sports utility vehicle slightly bigger and more expensive than its Model 3, pitched as an electric car for the masses. Tesla chief executive Elon Musk showed off the "Model Y" late Thursday, March 14, 2019, at the company's design studio in the southern California city of Hawthorne, and the company began taking orders online. Frederic J. Brown, AFP/Getty ImagesFullscreenThe new Tesla Model Y electric car. Tesla via EPA-EFEFullscreenPeople get into Tesla's Model Y for a test drive at the company's design studio Thursday, March 14, 2019, in Hawthorne, Calif. Jae C. Hong, APFullscreenPeople wait in line for entry to see the unveiling of the new Tesla Model Y at the Tesla Design Center in Hawthorne, California, on March 14, 2019. Frederic J. Brown, AFP/Getty ImagesFullscreenTesla Model Y. Tesla via EPA-EFEFullscreenPeople view a model of the new Tesla Model Y unveiled earlier in Hawthorne, Calif. on March 14, 2019. Frederic J. Brown, AFP/Getty ImagesFullscreenInterested in this topic? You may also want to view these photo galleries:Replay1 of 82 of 83 of 84 of 85 of 86 of 87 of 88 of 8AutoplayShow ThumbnailsShow CaptionsLast SlideNext Slide

If Musk had tried to break new technological barriers or adopt outlandish styling on the Model Y, he would have risked making the vehicle too difficult to manufacture and unappealing to conventional SUV buyers.

I'm kind of disappointed the Model Y looks exactly like the Model 3...

— niclacoste (@niclacoste) March 15, 2019 .oembed-frame { width: 100%; height: 100%; margin: 0; border: 0; }

 

"The Model Y appears to be exactly what Tesla needs it to be — and SUV version of the Model 3," said Mike Ramsey, an analyst at technology research firm Gartner who tracks Tesla, in an email. "With a lower cost and better range, I expect it will be very popular."

Musk, in fact, predicted that the Model Y will eventually outsell the Model 3, Model X SUV and Model S sedan combined. 

That would require sales to soar well over half a million vehicles. J.D. Power reports that Americans purchased 1.4 million SUVs in the range of $40,000 to $90,000 in 2018.

Tesla's Model Y is displayed at Tesla's design studio on Thursday, March 14, 2019, in Hawthorne, Calif. (Photo: Jae C. Hong, AP)

The first-available model will start at $47,000 and arrive in fall 2020. You can place a refundable deposit of $2,500 to secure your place in line when the vehicle becomes available.

The base model of the Model Y — the $39,000 version — won't be available until "sometime in 2021," Musk said.

I'm going to say it now, even though at the moment its unpopular. I like the new Tesla model Y. I think if they can deliver it in 2020 and 2021 with a good quality build I see it being very popular. I know people are kind of disappointed it doesn't look crazy cool but its solid.

— Jason Benner (@JasonBenner7) March 15, 2019

Stayed up past my bedtime to watch the Tesla Model Y unveil event. SO pumped for the future of electric vehicles. What a time to be alive!! @Tesla@elonmusk

— Kayla Elles (@kaylamelles) March 15, 2019

Families can make the Model Y their primary vehicle since the battery range goes from 230 miles to 300 miles depending on the version. That stacks up well against other EVs on the market, such as the Chevrolet Bolt's 238 and the Hyundai Kona's 258.

And while techies might not find the Model Y exhilarating, it will come equipped with software and sensors capable of autonomous driving, whenever it becomes legal. But buyers will have to pay for the system upgrade of $3,000 to $5,000.

New Tesla features: Tesla CEO Elon Musk reveals electric SUV

What it's like to buy and own a Tesla: Has this Model 3 owner's yearning been fulfilled?

The biggest challenge for Tesla is convincing buyers to wait for the Model Y. Shoppers aren't accustomed to waiting a year and a half for a new ride — especially not if they need to replace their primary vehicle.

But for anyone who wants to feel the Tesla buzz for the first time, it might be worth the wait.

There's one big caveat, however: Tesla is famous for missing its own production goals. Is the company capable of delivering on time?

"We remain concerned about the manufacturing timeline," Sanford Bernstein analyst A.M. (Toni) Sacconaghi, Jr. wrote Friday.

The Tesla Model Y SUV. (Photo: Tesla)

The Model 3 production ramp-up in 2017 and 2018 was very slow, causing steep losses and raising questions about Tesla's future. The company eventually figured it out, though critics have noted lingering quality challenges that caused Consumer Reports to drop its recommendation of the car.

"I really think the difficulty and value of manufacturing is underappreciated," Musk said Thursday. "It's relatively easy to make a prototype and extremely difficult to mass manufacture a vehicle reliably and at scale."

If he's absorbed those lessons the hard way, then the Model Y could stay on schedule.

Dan Ives, stock analyst at Wedbush Securities, suggested that Tesla might have learned not to over promise.

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"We believe Tesla is being conservative with its targets to avoid any of the well-documented production headaches it faced with the Model 3 coming out," Ives wrote Friday.

Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey.

 

Soybean futures expected to trade sideways to lower: Angel Commodities

Angel Commodities' report on Soybean

NCDEX Apr Soybean future corrected on Thursday due to ample supplies and lower soy meal exports figures. In its latest press release by SOPA, soybean arrivals for the Oct-Feb period in the current crop year pegged at 73 lakh tonnes (lt), up by 24.9% on year. As per SEA, soy meal exports were provisionally reported at 69,428 tonnes, down 6% on year compared to 73,800 tonnes. Moreover, January exports are revised lower to 86,300 tonnes from over 2.1 lt expected in the last month release. In the second advance estimates for 2018-19, govt pegged 2018-19 production at 136.9 lt, up 24.7% on year. However, SOPA expects availably of soybean for crushing, direct use and exports in 2018/19 to be about 102 lt as against 86 lt lat year.

CBOT Soybean futures rose a little due to some improved exports figures by USDA but uncertainty over trade deal with China is still pressuring prices. Weekly export Sales report showed 1.912 MMT of old crop soybean in the week that ended on March 7, was just above the top end of trade estimates and 50.6% larger than the same week in 2018. CONAB revised their 18/19 soybean crop projection to 113.459 mt, down 1.884 mt from their previous number. The USDA raised its forecast of global 2018/19 soy ending stocks to 107.17 mt, from 106.72 mt last month. Safras & Mercado estimates the Brazil soybean harvest was 52.1% complete as of March 8, compared to the 46.4% average.

Outlook

Soybean futures expected to trade sideways to lower due to steady demand and higher availability in the physical market. Moreover, slower exports for soymeal from India are also pressurizing prices.

For all commodities report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More First Published on Mar 15, 2019 11:55 am

Boeing's fix for 737 Max may take three to six months, Bank of America predicts

The software fix that Boeing said it is working on could take as long as six months, according to Bank of America.

Boeing earlier this week said a software change is in the works as well as updates to pilot manuals and training and the Federal Aviation Administration said it would mandate those changes by April.

"Once Boeing identifies the issue on the 737 MAX, the most likely scenario, in our view, is that the company will take about 3-6 months to come up with a fix and certify the fix," the bank's analyst Ronald Epstein said in a note on Thursday.

show chapters 737 Max grounding is 'uncharted territory', says former NTSB Chairman    1 Hour Ago | 09:25

The FAA on Wednesday grounded all Boeing 737 Max jets in the U.S., citing links between two fatal crashes. The turnaround came after dozens of countries around the world grounded the planes, tanking the stock nearly 11 percent this week, on pace to post its biggest weekly decline since 2008.

Bank of America kept its buy rating and $480 price-target on Boeing as the bank believes the investigation would have a "definitive timeline" as the recovery of the black boxes is already underway. This would significantly reduce the uncertainty around Boeing and the 737 Max model, the bank said. The two black boxes from the Boeing 737 MAX 8 that crashed on March 10 in Ethiopia were being taken to Paris for investigation.

"We would expect Boeing to continue to produce the 737 at the current rate of 52 per month in order to minimize disruption in the supply chain. Boeing may have to carry inventory in its balance sheet of about $5.5bn per quarter. We would expect working capital to improve as the aircraft begins delivery again," Epstein said.

The bank predicts that the rentals Boeing would have to pay for alternative airlines would cost the company $500 million or $0.88 per share in the first quarter.

WATCH: Airlines should recover quickly from 737 Max grounding

show chapters Expert: Airlines should recover from 737 Max grounding quickly    1 Hour Ago | 05:57

Top 10 Energy Stocks To Invest In Right Now

tags:SUN,FTI,MGEE,SWN,DVN,SJT,CRT,IO,NOV,BBG,

Image source: Getty Images.

While crude prices stumbled into 2016, they found their footing by mid-year and roared back to life, ending the year up about 42%. Those rising prices lifted most oil stocks. However, a handful of large-cap oil stocks rose above the crowd by outperforming crude's rally. Those top-tier performers were Continental Resources (NYSE:CLR), Devon Energy (NYSE:DVN), Anadarko Petroleum (NYSE:APC), Pioneer Natural Resources (NYSE:PXD), and Cimarex Energy (NYSE:XEC):

CLR data by YCharts.

Here's what made this quintet the best oil stocks of the year.

Rising from the ashes

Bakken shale-focused driller Continental Resources was one of 2016's biggest surprise performers in the oil patch. That is partially due to an atrocious 2015, when the stock plunged more than 40%. However, Continental made back its losses from 2015, and then some, because of its impressive performance in 2016. After initially anticipating a double-digit production decline in 2016, the company now expects production to come in roughly flat thanks to stronger-than-anticipated well performance and higher oil prices. It also generated excess cash flow and sold non-core assets to pay down debt. The result is that Continental Resources is in a much stronger position at the end of 2016 than it was to start the year, which lifted a huge weight that had been holding down the stock.

Top 10 Energy Stocks To Invest In Right Now: Sunoco LP(SUN)

Advisors' Opinion:

• [By Matthew DiLallo]

  Energy Transfer Equity's cash flow surged entirely due to its stake in Energy Transfer Partners. While the company's recent investment in USA Compression Partners (NYSE:USAC) added $11 million of incremental income during the quarter, the sale of a portion of its investment in Sunoco LP (NYSE:SUN) completely offset that gain. Meanwhile, cash flow from the company's Lake Charles LNG facility was flat versus the year-ago period.

• [By Matthew DiLallo]

  Three high-yield dividend stocks that seem to be in danger of a dividend reduction are Summit Midstream Partners (NYSE:SMLP), Enbridge Energy Partners (NYSE:EEP), and Sunoco LP (NYSE:SUN). Investors are better off steering clear of this trio and considering safer options instead.

• [By ]

  That's the case for Sunoco (NYSE: SUN). After posting a net loss of $0.09 per share in 2017, the gas station owner is expected to swing to a hefty profit of $2.35 per share in 2018. But of the 14 analysts who follow the company, earnings estimates range as low as $1.22 and as high as $3.35 -- so there is a high degree of uncertainty. 

Top 10 Energy Stocks To Invest In Right Now: FMC Technologies, Inc.(FTI)

Advisors' Opinion:

• [By Stephan Byrd]

  TechnipFMC PLC (NYSE:FTI) gapped up before the market opened on Wednesday . The stock had previously closed at $30.08, but opened at $30.71. TechnipFMC shares last traded at $31.92, with a volume of 3128980 shares.

• [By Shane Hupp]

  Get a free copy of the Zacks research report on TechnipFMC (FTI)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Shane Hupp]

  Korea Investment CORP grew its stake in shares of TechnipFMC PLC (NYSE:FTI) by 227.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,528 shares of the oil and gas company’s stock after acquiring an additional 60,800 shares during the quarter. Korea Investment CORP’s holdings in TechnipFMC were worth $2,778,000 as of its most recent SEC filing.

• [By Motley Fool Transcription]

  TechnipFMC PLC (NYSE:FTI)Q4 2018 Earnings Conference CallFeb. 21, 2019, 8:00 a.m. ET

  Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

  Operator

Top 10 Energy Stocks To Invest In Right Now: MGE Energy Inc.(MGEE)

Advisors' Opinion:

• [By Max Byerly]

  MGE Energy (NASDAQ:MGEE) was upgraded by analysts at BidaskClub from a buy rating to a strong-buy rating.

  Minerva Neurosciences (NASDAQ:NERV) was upgraded by analysts at BidaskClub from a hold rating to a buy rating.

• [By Max Byerly]

  Prudential Financial Inc. reduced its position in MGE Energy, Inc. (NASDAQ:MGEE) by 18.2% during the first quarter, Holdings Channel reports. The institutional investor owned 104,636 shares of the utilities provider’s stock after selling 23,210 shares during the period. Prudential Financial Inc.’s holdings in MGE Energy were worth $5,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

• [By Reuben Gregg Brewer]

  Utility stocks are generally considered conservative investments that reward shareholders over the long term with sizable dividends that grow slowly and steadily over time. With the S&P 500 Index's yield hovering around 2%, the bar for yield is set pretty low today. That said, investors should think twice before jumping at utilities like UGI Corporation (NYSE:UGI), Atmos Energy Corporation (NYSE:ATO), and MGE Energy, Inc. (NASDAQ:MGEE), which offer little if any yield advantage over an S&P 500 Index fund.

Top 10 Energy Stocks To Invest In Right Now: Southwestern Energy Company(SWN)

Advisors' Opinion:

• [By Ethan Ryder]

  BlueMountain Capital Management LLC boosted its holdings in Southwestern Energy (NYSE:SWN) by 290.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,089 shares of the energy company’s stock after purchasing an additional 124,248 shares during the period. BlueMountain Capital Management LLC’s holdings in Southwestern Energy were worth $886,000 at the end of the most recent reporting period.

• [By WWW.GURUFOCUS.COM]

  For the details of DFT Energy LP's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=DFT+Energy+LP

  These are the top 5 holdings of DFT Energy LPWhiting Petroleum Corp (WLL) - 400,000 shares, 18.19% of the total portfolio. Shares added by 2.56%Hess Corp (HES) - 170,000 shares, 11.57% of the total portfolio. Shares added by 30.77%Noble Energy Inc (NBL) - 200,000 shares, 8.15% of the total portfolio. Southwestern Energy Co (SWN) - 1,360,000 shares, 7.92% of the total portfolio. Shares added by 4.62%Anadarko Petroleum Corp (APC)
• [By Lisa Levin] Gainers Cocrystal Pharma, Inc. (NASDAQ: COCP) rose 15.3 percent to $2.41 in pre-market trading after declining 25.09 percent on Thursday. Expedia Group, Inc. (NASDAQ: EXPE) shares rose 10.7 percent to $117.75 in pre-market trading after the company reported stronger-than-expected earnings for its first quarter on Thursday. DMC Global Inc. (NASDAQ: BOOM) rose 10.6 percent to $35.00 in pre-market trading after reporting Q1 results. Genprex, Inc. (NASDAQ: GNPX) rose 10.2 percent to $12.12 in pre-market trading after climbing 86.76 percent on Thursday. Sprint Corporation (NYSE: S) shares rose 7 percent to $6.42 in pre-market trading on reports that the company has made progress on merger talks with T-Mobile. Amazon.com, Inc. (NASDAQ: AMZN) rose 6.9 percent to $1,621.95 in pre-market trading after the company posted upbeat results for its first quarter. The company sees second quarter operating income of $1.1 billion - $1.9 billion and sales of $51 billion - $54 billion. Riot Blockchain, Inc. (NASDAQ: RIOT) shares rose 5.5 percent to $7.88 in pre-market trading after gaining 1.49 percent on Thursday. Intel Corporation (NASDAQ: INTC) rose 5.3 percent to $55.86 in pre-market trading as the company reported better-than-expected results for its first quarter and also raised its FY18 sales outlook. 8x8, Inc. (NASDAQ: EGHT) rose 5.3 percent to $21.00 in pre-market trading. Southwestern Energy Company (NYSE: SWN) shares rose 5.1 percent to $4.75 in pre-market trading as the company reported better-than-expected earnings for its first quarter. Diamond Offshore Drilling, Inc. (NYSE: DO) rose 5 percent to $20.24 in pre-market trading. Baidu, Inc. (NASDAQ: BIDU) rose 4.5 percent to $249.50 in pre-market trading following upbeat Q1 profit. Charter Communications, Inc. (NASDAQ: CHTR) rose 4.3 percent to $311 in pre-market trading. Charter is expected to release quarterly earnings today. SINA Corporation (NASDAQ: SINA) shares rose 3.9 pe
• [By Chris Lange]

  The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Friday was Southwestern Energy Company (NYSE: SWN) which rose 20% to $4.46. The stock's 52-week range is $3.42 to $8.94. Volume was about 52 million compared to the daily average volume of 26 million.

• [By Paul Ausick]

  Southwestern Energy Co. (NYSE: SWN) fell about 6% Friday to post a new 52-week low of $3.42 after closing at $3.64 on Thursday. The 52-week high is $90.15. Volume of about 35 million was around 50% above the daily average. The company had no specific news.

Top 10 Energy Stocks To Invest In Right Now: Devon Energy Corporation(DVN)

Advisors' Opinion:

• [By Jason Hall, Tyler Crowe, and John Bromels]

  According to three Motley Fool contributors, there are still ample opportunities to profit in the oil and gas segment as some left-behind subsectors start to catch up to the higher price trend. Three in particular that are well-positioned going forward are Transocean LTD (NYSE:RIG), National-Oilwell Varco, Inc. (NYSE:NOV), and Devon Energy Corp (NYSE:DVN).  

• [By ]

  In the Lightning Round, Cramer was bullish on PayPal (PYPL) , Wyndham Worldwide (WYN) , Churchill Downs (CHDN) , Devon Energy (DVN) , Discovery Communications (DISCA) and Cypress Semiconductor (CY) .

• [By Matthew DiLallo]

  Shares of Devon Energy (NYSE:DVN) have been all over the place so far in 2018. Investors initially pounded the stock after it reported disappointing fourth-quarter results to start the year. However, it has recovered since then after posting much better numbers in the first quarter as well as surprising investors with a big-time dividend increase and share buyback program. Still, shares are only up about 7% this year even though crude prices have been scorching-hot, rocketing more than 20% year to date.

Top 10 Energy Stocks To Invest In Right Now: San Juan Basin Royalty Trust(SJT)

Advisors' Opinion:

• [By Shane Hupp]

  Media stories about San Juan Basin Royalty Trust (NYSE:SJT) have trended positive recently, according to Accern Sentiment Analysis. The research firm scores the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. San Juan Basin Royalty Trust earned a media sentiment score of 0.34 on Accern’s scale. Accern also gave news articles about the oil and gas producer an impact score of 48.2365151407757 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Top 10 Energy Stocks To Invest In Right Now: Cross Timbers Royalty Trust(CRT)

Advisors' Opinion:

• [By Ethan Ryder]

  News stories about Cross Timbers Royalty Trust (NYSE:CRT) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm ranks the sentiment of press coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Cross Timbers Royalty Trust earned a media sentiment score of 0.23 on Accern’s scale. Accern also assigned headlines about the oil and gas company an impact score of 47.0297657024049 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

• [By Ethan Ryder]

  Cross Timbers Royalty Trust (NYSE:CRT) announced a dividend on Tuesday, August 21st, NASDAQ reports. Stockholders of record on Friday, August 31st will be paid a dividend of 0.108 per share by the oil and gas company on Monday, September 17th. The ex-dividend date of this dividend is Thursday, August 30th.

Top 10 Energy Stocks To Invest In Right Now: Ion Geophysical Corporation(IO)

Advisors' Opinion:

• [By Max Byerly]

  ION Geophysical (NYSE: IO) and Glencore (OTCMKTS:GLNCY) are both oils/energy companies, but which is the superior business? We will contrast the two businesses based on the strength of their risk, valuation, dividends, profitability, institutional ownership, earnings and analyst recommendations.

• [By Shane Hupp]

  Get a free copy of the Zacks research report on Ion Geophysical (IO)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Shane Hupp]

  Janney Montgomery Scott started coverage on shares of Ion Geophysical (NYSE:IO) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $35.00 target price on the oil and gas company’s stock.

Top 10 Energy Stocks To Invest In Right Now: National Oilwell Varco, Inc.(NOV)

Advisors' Opinion:

• [By Max Byerly]

  National-Oilwell Varco (NYSE:NOV) was upgraded by analysts at Johnson Rice from a “hold” rating to a “buy” rating in a report issued on Tuesday, The Fly reports.

• [By Matthew DiLallo]

  After steadily improving for several quarters, National Oilwell Varco's (NYSE:NOV) recovery hit a speedbump in the first quarter of 2018. Revenue declined 9% from the previous quarter and missed its forecast due to several issues. However, one thing the company's management team made clear on the accompanying conference call was that while the quarter was a disappointment, they're increasingly optimistic about what they see ahead.

• [By Jason Hall, Tyler Crowe, and John Bromels]

  According to three Motley Fool contributors, there are still ample opportunities to profit in the oil and gas segment as some left-behind subsectors start to catch up to the higher price trend. Three in particular that are well-positioned going forward are Transocean LTD (NYSE:RIG), National-Oilwell Varco, Inc. (NYSE:NOV), and Devon Energy Corp (NYSE:DVN).  

• [By Stephan Byrd]

  COPYRIGHT VIOLATION WARNING: “National-Oilwell Varco (NOV) Shares Gap Down to $26.58” was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://www.tickerreport.com/banking-finance/4207620/national-oilwell-varco-nov-shares-gap-down-to-26-58.html.

• [By Shane Hupp]

  Iowa State Bank lifted its stake in National Oilwell Varco (NYSE:NOV) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,546 shares of the oil and gas exploration company’s stock after purchasing an additional 1,589 shares during the quarter. Iowa State Bank’s holdings in National Oilwell Varco were worth $683,000 at the end of the most recent reporting period.

• [By Logan Wallace]

  National Oilwell Varco (NYSE: NOV) and DistributionNOW (NYSE:DNOW) are both oils/energy companies, but which is the better business? We will contrast the two companies based on the strength of their dividends, analyst recommendations, earnings, risk, institutional ownership, valuation and profitability.

Top 10 Energy Stocks To Invest In Right Now: Bill Barrett Corporation(BBG)

Advisors' Opinion:

• [By Shane Hupp]

  Shares of Bill Barrett Co. (NYSE:BBG) have been assigned a consensus rating of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.28.

BitTube Market Capitalization Tops $3.01 Million (TUBE)

BitTube (CURRENCY:TUBE) traded 1.7% higher against the dollar during the 24 hour period ending at 22:00 PM Eastern on March 8th. During the last seven days, BitTube has traded 5.1% higher against the dollar. BitTube has a total market cap of $3.01 million and $18,298.00 worth of BitTube was traded on exchanges in the last day. One BitTube coin can now be bought for approximately $0.0233 or 0.00000595 BTC on popular cryptocurrency exchanges including TradeOgre, Bittrex, Livecoin and Upbit.

Here is how similar cryptocurrencies have performed during the last day:

Get BitTube alerts: Monero (XMR) traded 0.8% lower against the dollar and now trades at $50.63 or 0.01292282 BTC. Bytecoin (BCN) traded down 0.9% against the dollar and now trades at $0.0007 or 0.00000018 BTC. Boolberry (BBR) traded 0.5% higher against the dollar and now trades at $0.58 or 0.00014773 BTC. DigitalNote (XDN) traded up 0.5% against the dollar and now trades at $0.0010 or 0.00000025 BTC. BitNewChain (BTN) traded up 0.6% against the dollar and now trades at $0.0374 or 0.00000954 BTC. Aeon (AEON) traded 0.3% higher against the dollar and now trades at $0.30 or 0.00007598 BTC. Stellite (XTL) traded up 0.9% against the dollar and now trades at $0.0002 or 0.00000004 BTC. Karbo (KRB) traded up 1% against the dollar and now trades at $0.0672 or 0.00001715 BTC. Digital Insurance Token (DIT) traded down 0.3% against the dollar and now trades at $0.0021 or 0.00000053 BTC. Sumokoin (SUMO) traded 13% higher against the dollar and now trades at $0.0283 or 0.00000722 BTC.

BitTube Profile

BitTube (CRYPTO:TUBE) is a proof-of-work (PoW) coin that uses the CryptoNight hashing algorithm. It launched on January 31st, 2018. BitTube’s total supply is 130,810,106 coins and its circulating supply is 129,030,106 coins. BitTube’s official Twitter account is @BitTubeApp. The Reddit community for BitTube is /r/ipbcoin. BitTube’s official website is coin.bit.tube .

Buying and Selling BitTube

BitTube can be purchased on the following cryptocurrency exchanges: Livecoin, Upbit, TradeOgre and Bittrex. It is usually not presently possible to purchase alternative cryptocurrencies such as BitTube directly using U.S. dollars. Investors seeking to acquire BitTube should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as GDAX, Changelly or Gemini. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase BitTube using one of the exchanges listed above.

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Hot Energy Stocks To Watch For 2019

tags:CXO,SHLX,MUR,REI,PTEN,

Crusader Energy Group, LLC (NYSE:JONE) has been given a consensus rating of “Hold” by the seven analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $1.00.

JONE has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Crusader Energy Group from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. ValuEngine downgraded shares of Crusader Energy Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 3rd. Finally, Stephens reaffirmed a “hold” rating and issued a $1.00 price objective on shares of Crusader Energy Group in a research report on Thursday, March 15th.

Hot Energy Stocks To Watch For 2019: Concho Resources Inc.(CXO)

Advisors' Opinion:

• [By Logan Wallace]

  Renaissance Technologies LLC increased its position in Concho Resources Inc (NYSE:CXO) by 123.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 399,100 shares of the oil and natural gas company’s stock after purchasing an additional 220,777 shares during the quarter. Renaissance Technologies LLC owned approximately 0.20% of Concho Resources worth $55,215,000 as of its most recent SEC filing.

• [By Logan Wallace]

  Concho Resources (NYSE:CXO) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Wednesday, The Fly reports.

• [By Max Byerly]

  Oppenheimer Asset Management Inc. cut its stake in shares of Concho Resources Inc (NYSE:CXO) by 70.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 902 shares of the oil and natural gas company’s stock after selling 2,185 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Concho Resources were worth $93,000 at the end of the most recent reporting period.

• [By Max Byerly]

  Concho Resources Inc (NYSE:CXO) has been assigned an average recommendation of “Buy” from the twenty-seven research firms that are presently covering the stock, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $177.50.

• [By Jon C. Ogg]

  Concho Resources Inc. (NYSE: CXO) also was reiterated as Buy, with a $155 price objective. That is based on a finite timeline to delivery that is supported by its core NAV. Shares of Concho Resources were trading up 1.5% at $107.60 on Monday afternoon.

• [By Stephan Byrd]

  Segall Bryant & Hamill LLC cut its holdings in shares of Concho Resources Inc (NYSE:CXO) by 19.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 187,008 shares of the oil and natural gas company’s stock after selling 44,478 shares during the period. Segall Bryant & Hamill LLC’s holdings in Concho Resources were worth $25,873,000 as of its most recent SEC filing.

Hot Energy Stocks To Watch For 2019: Shell Midstream Partners, L.P.(SHLX)

Advisors' Opinion:

• [By Motley Fool Transcribers]

  Shell Midstream Partners LP  (NYSE:SHLX)Q4 2018 Earnings Conference CallFeb. 21, 2019, 10:00 a.m. ET

  Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks:

  Operator

• [By Reuben Gregg Brewer]

  There's an interesting dichotomy here, however. Crestwood was looking to stay financially disciplined, but it also needed to invest to grow. Doing both at the same time is difficult, which is why it partnered up with Con Ed in the Marcellus region, Shell Midstream Partners LP (NYSE:SHLX) and First Reserve in the Delaware Basin, and Williams Partners (NYSE:WPZ) in the Powder River basin. These agreements allow Crestwood to keep expanding its business without having to foot the entire bill for the investments.

• [By Matthew DiLallo]

  Thanks in part to higher oil prices, the average energy stock in the S&P 500 is up nearly 17% over the past year. However, those improving market conditions haven't taken the entire sector higher. Three laggards that stand out are fast-growing, high-yielding MLPs Antero Midstream Partners (NYSE:AM), Shell Midstream Partners (NYSE:SHLX), and EQT Midstream Partners (NYSE:EQM), which have all lost more than 10% of their value over the past year. Because of that, these MLPs look like compelling options for income-seeking investors to consider.

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on Shell Midstream Partners (SHLX)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

Hot Energy Stocks To Watch For 2019: Murphy Oil Corporation(MUR)

Advisors' Opinion:

• [By Matthew DiLallo]

  Shares of Murphy Oil Corporation (NYSE:MUR) took off on Thursday, rising more than 12% by 10:30 a.m. EDT after the company agreed to form a strategic joint venture (JV) with Petrobras (NYSE:PBR) in the Gulf of Mexico.

• [By Max Byerly]

  Shares of Murphy Oil Co. (NYSE:MUR) have earned an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $33.11.

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on Murphy Oil (MUR)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Stephan Byrd]

  Murphy Oil Co. (NYSE:MUR) has earned an average rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $31.56.

Hot Energy Stocks To Watch For 2019: Ring Energy, Inc.(REI)

Advisors' Opinion:

• [By Stephan Byrd]

  RioCan Real Estate Investment Trust (TSE:REI) announced a monthly dividend on Friday, September 14th, Zacks reports. Investors of record on Friday, September 28th will be given a dividend of 0.12 per share on Friday, October 5th. This represents a $1.44 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend is Thursday, September 27th.

• [By Logan Wallace]

  News headlines about Ring Energy (NASDAQ:REI) have trended somewhat positive this week, Accern reports. Accern ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Ring Energy earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave news stories about the company an impact score of 48.1013811529141 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

• [By Ethan Ryder]

  Ring Energy (NYSEAMERICAN:REI) will be issuing its Q1 2018 quarterly earnings data on Wednesday, May 9th. Analysts expect the company to announce earnings of $0.15 per share for the quarter.

• [By Logan Wallace]

  Ring Energy Inc (NYSEAMERICAN:REI) – Equities researchers at SunTrust Banks cut their Q3 2018 earnings per share (EPS) estimates for shares of Ring Energy in a report issued on Thursday, October 4th. SunTrust Banks analyst N. Dingmann now expects that the company will earn $0.11 per share for the quarter, down from their prior forecast of $0.12. SunTrust Banks also issued estimates for Ring Energy’s FY2019 earnings at $1.01 EPS and FY2020 earnings at $1.60 EPS.

• [By Stephan Byrd]

  WINTON GROUP Ltd lowered its position in shares of Ring Energy Inc (NYSEAMERICAN:REI) by 44.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,662 shares of the company’s stock after selling 16,755 shares during the period. WINTON GROUP Ltd’s holdings in Ring Energy were worth $261,000 at the end of the most recent reporting period.

• [By Matthew DiLallo]

  Shares of Ring Energy Inc. (NYSEMKT:REI) tumbled more than 19% by 2:30 p.m. EDT on Tuesday after an analyst downgraded the oil and gas producers' stock.

Hot Energy Stocks To Watch For 2019: Patterson-UTI Energy, Inc.(PTEN)

Advisors' Opinion:

• [By Max Byerly]

  Get a free copy of the Zacks research report on Patterson-UTI Energy (PTEN)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Max Byerly]

  First Pacific Advisors LLC decreased its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 15.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,451,909 shares of the oil and gas company’s stock after selling 273,567 shares during the quarter. First Pacific Advisors LLC owned 0.65% of Patterson-UTI Energy worth $25,423,000 at the end of the most recent reporting period.

• [By Tyler Crowe]

  The oil services industry, as a whole, has been a challenging one over the past few years as exploration and production companies have drastically scaled back capital spending. Within the industry, the two segments that have been some of the most difficult to make money in are drilling and pressure pumping (fracking). For Patterson-UTI Energy (NASDAQ:PTEN), weakness in these segments has been a double-whammy because they are Patterson's two largest businesses. This past quarter was particularly tough because many producers finished their capital spending plans for 2018 early and might not start back up again until later in 2019.

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on Patterson-UTI Energy (PTEN)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

Why Costco Stock Was Moving Higher Today

What happened

Shares of Costco Wholesale (NASDAQ:COST) were rising today after the warehouse retailer turned in a strong second-quarter earnings report with better-than-expected profits. As a result, the stock was up 5.4% as of 10:56 a.m. EST.

So what  

Costco continued to demonstrate why it's a best-in-class retailer, posting comparable-store sales growth of 6.7%, excluding fuel, and 7.2% in the U.S. E-commerce sales, a key focus for the company these days, were up 25.5%, and overall revenue increased 7.3% to $35.4 billion, though that was slightly below analyst expectations at $35.67 billion. 

Image source: Costco.

Gross margin climbed from 11% to 11.3%, leading to operating income jumping 18.4% to $1.2 billion. That drove earnings per share up from $1.59 to $2.01, which easily beat estimates at $1.69. 

Costco announced a wage increase earlier in the week, lifting starting hourly wages from a range of $14 to $14.50 to a range of $15 to $15.50 in the U.S. and Canada; wages for supervisors also went up. On the earnings call, CFO Richard Galanti noted a broader online selection of products including new iMacs and MacBooks, and well as expansions in supply and processing plants for meat and chicken, and a new bakery in Canada. 

Now what

Costco does not provide quarterly guidance, but the company updated its adjusted comps figures for the first four weeks of the third quarter, saying they were up 4.6% overall and 5.7% in the U.S. It said February growth was hurt by bad weather in North America and a shift earlier in the Lunar New Year. E-commerce sales increased 21.6% in that period.

While that may indicate slower growth in the third quarter, Costco continues to successfully adapt to the changing retail environment by embracing e-commerce, and is adding new stores, with three expected in the current quarter. Given the strong profit growth, it's not surprising to see the stock climbing today.

Why Zynga Stock Jumped 16.5% in February

What happened

Shares of Zynga (NASDAQ:ZNGA) climbed 16.5% in February, according to data from S&P Global Market Intelligence, after the mobile gaming specialist announced solid fourth-quarter 2018 results and encouraging forward guidance.

Zynga climbed 8% in the two days following its quarterly release on Feb. 6, 2019, then continued to drift higher for the duration of the month.

IMAGE SOURCE: GETTY IMAGES.

So what

That's not to say Zynga's fourth quarter looked impressive at first glance. Revenue grew a modest 7% year over year to $249 million, translating to net income of $559,000, or roughly breakeven on a per-share basis.

That said, Zynga didn't provide specific bottom-line guidance three months earlier. But its revenue last quarter exceeded its outlook by $6 million. Bookings also climbed a strong 19% year over year to $267 million, exceeding guidance by $7 million. Zynga's results were particularly strong on the mobile side, with mobile advertising revenue and bookings climbing 23% and 20%, respectively -- a feat management credited to a combination of higher player engagement in the company's popular Words With Friends, Merge Dragons!, and CSR2 games, as well as ad network improvements and the addition of its new Casual Cards and Gram Games titles.

Now what

"Zynga's turnaround is now complete and we are well positioned for significant growth in 2019 and beyond," stated CEO Frank Gibeau in the company's letter to shareholders.

More specifically, Zynga now expects 2019 revenue to increase 27% year over year to $1.15 billion, while bookings should soar 39% to $1.35 billion. The company believes its strength will stem from both its live service portfolio, and its five so-called "forever franchises," including Words With Friends, Empires & Puzzles, Zynga Poker, Merge Dragons!, and CSR Racing.

In the end, coupling Zynga's relative outperformance in the fourth quarter with its impending acceleration in growth this year gave the market more than enough reason to bid up the stock last month.

Sugar stocks trade mixed after Cabinet nod for additional funds to sugar mills

Sugar stocks were mixed in trade on Thursday after the Cabinet approved allocation of additional funds to sugar mills.

KM Sugar Mills, Sakthi Sugars, EID Parry, Rana Sugars, Andhra Sugar and Shree Renuka Sugars rallied 2-5 percent whereas Triveni Engineering, Dwarikesh Sugar, Dhampur Sugar, Uttam Sugar, Rajshree Sugars and Balrampur Chini fell 2-6 percent which could be on profit booking.

While addressing press conference after the Cabinet Committee on Economic Affairs (CCEA) meeting, Finance Minister Arun Jaitley said the Cabinet has given its approval for funds amounting to Rs 2,790 crore towards interest subvention for extending indicative loan amount of Rs 12,900 crore.

The loan amount was given by banks to the sugar mills under 'Scheme for extending financial assistance to sugar mills for enhancement and augmentation of ethanol production capacity' for 268 applications/proposals, he added.

related news D-Street Buzz: PSU banks extend gains led by PNB; Axis Bank hits new 52-week high, Zee Entertainment drags Marksans Pharma slips 4% post USFDA inspection at Goa facility

The amount of Rs 2,790 crore is in addition to Rs 1,332 crore already approved by CCEA in June 2018.

Jaitley said CCEA also approved Rs 565 crore towards interest subvention for extending indicative loan amount of Rs 2,600 crore by banks to the molasses based standalone distilleries.

The approval of interest subvention will help in improving liquidity of sugar mills by way of value addition to their revenues from supply of ethanol under Ethanol Blended Petro Programme (EBP), and reducing sugar inventories and thereby facilitate timely clearance of cane price dues of farmers and achieving 10 percent blending target of EBP.

First Published on Mar 7, 2019 02:32 pm

R. Kelly has said he's broke. But is it true?

Perhaps it was fitting that R. Kelly once lamented his financial troubles in a song. 

"I'm a broke a – – legend,'' Kelly riffed in the expletive-riddled "I Admit,'' released last year. "The only reason I stay on tour is cause I've got to pay my rent ... I admit I had to borrow a couple of m's from the label. All these hits out, but I couldn't put food on the table.''

Kelly spent three days in jail last month after he was arrested for multiple counts of sexual abuse, including allegations that three of the four victims were underage. But hours after an explosive interview on "CBSThis Morning" with Gayle King aired Wednesday, Kelly was headed back to jail for a different matter – failure to pay child support. 

Kelly had until 10 A.M. to pay his ex-wife Andrea Kelly $161,663 in overdue payments, according to the Chicago Sun-Times. Following a hearing Wednesday afternoon, Kelly was taken into custody and will be transferred to the county jail., Cook County Sheriff's spokesman Sam Randall told USA TODAY. 

 

Music artist R. Kelly (C) arrives at the Circuit Court of Cook County, Domestic Relations Division on March 6, 2019 in Chicago, Illinois. - Kelly denied allegations he sexually abused women and girls in his first public comments since being indicted last month. "I didn't do this stuff. This not me," Kelly told "CBS This Morning", saying he was "fighting" for his life in an interview to air Wednesday. Excerpts were released Tuesday. (Photo by JOSHUA LOTT / AFP)JOSHUA LOTT/AFP/Getty Images ORG XMIT: R&B singe ORIG FILE ID: AFP_1EB0DJ (Photo: JOSHUA LOTT, AFP/Getty Images)

Whether Kelly, who continues to be seen with some semblance of an entourage, is truly broke is unclear, though his attorney, Steve Greenberg, said at a hearing after Kelly's February arrest that his client's recording contract had been canceled and his finances were "a mess,'' according to the ChicagoSun-Times.

Kelly, who with hits like "I Believe I Can Fly'' and "Bump N Grind,'' has sold out venues around the world, spent three nights in jail last month because he was apparently unable to come up with the $100,000 he needed to post to be released. The amount, 10 percent of a $1-million bond, was finally paid by a 47-year-old woman identified as "a friend'' in court documents, according to the Chicago Tribune.

There's little doubt that Kelly's fortunes have taken a hit in the wake of his being charged with 10 felony counts of aggravated criminal sexual abuse to which he has pleaded not guilty.

Roughly a decade ago, Kelly was tried and acquitted on charges of child pornography, but there continued to be accusations that Kelly abused teenage girls and held women against their will. Those allegations reached a crescendo with the Jan. 3 premiere of the Lifetime docu-series "Surviving R. Kelly," which gave a devastating account of how Kelly allegedly physically, psychologically and sexually abused dozens of women.

Since then, artists from Lady Gaga to Celine Dion to Fantasia have removed duets performed with Kelly from streaming platforms or said they will no longer perform hits that Kelly wrote. 

Kelly has reportedly been dropped by his label RCA Records, which no longer lists him among its roster on its website. Concert promoters have canceled or threatened to cancel Kelly's appearances. And the #MuteRKelly movement, which has spent years trying to get radio stations and streaming services to no longer offer Kelly's music, has ramped up its calls for a permanent ban.

But immediately after "Surviving R. Kelly" aired, Kelly's song and album sales more than doubled, according to the data analytics company Nielsen, and audio and video streams spiked 76 and 85 percent – all of which mean that Kelly likely got richer.

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"Is money still being generated? Yes. Is it going to him? I don't know,'' said Lisa Alter, a music attorney and founding partner of the New York-based firm, Alter, Kendrick and Baron, who added that Kelly might not be receiving that income if he's committed it as security for a loan. However, "he's getting royalties from different sources, from his performing rights associations, from his record label and from his music publishing.'' 

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The singer said in "I Admit'' that he owed the IRS $20 million and claimed that he doesn't own the rights to his music. The website Celebritynetworth.com says that while Kelly would have likely been worth at least $150 million, in the wake of his legal troubles, his net worth now stands at a relatively meager $100,000.

The site also says that in recent years, Kelly's Chicago home was lost to foreclosure, and he was kicked out of two more homes in Atlanta because he did not pay the rent.

R. Kelly became a major star in the 1990s after he was signed by the Jive record label, and he became a part of Sony Music when it bought the smaller company, according to Billboardand The Hollywood Reporter. Kelly joined the Sony label, RCA in 2012.

Contributing: Leora Arnowitz, Maria Puente 

Follow USA Today reporter Charisse Jones on Twitter @charissejones 

 

 

 

 

 

 

Top Oil Stocks To Invest In Right Now

tags:MMP,APA,RRC,RIG,

Grisanti Capital Management LLC raised its holdings in Exxon Mobil Co. (NYSE:XOM) by 441.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,742 shares of the oil and gas company’s stock after acquiring an additional 21,805 shares during the period. Grisanti Capital Management LLC’s holdings in Exxon Mobil were worth $1,995,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Cowen Prime Services LLC grew its position in Exxon Mobil by 8.5% during the 4th quarter. Cowen Prime Services LLC now owns 7,270 shares of the oil and gas company’s stock worth $608,000 after acquiring an additional 570 shares during the last quarter. Partnervest Advisory Services LLC grew its position in Exxon Mobil by 3.8% during the 4th quarter. Partnervest Advisory Services LLC now owns 15,640 shares of the oil and gas company’s stock worth $1,308,000 after acquiring an additional 578 shares during the last quarter. Mycio Wealth Partners LLC grew its position in Exxon Mobil by 1.3% during the 4th quarter. Mycio Wealth Partners LLC now owns 45,944 shares of the oil and gas company’s stock worth $3,843,000 after acquiring an additional 595 shares during the last quarter. Dividend Assets Capital LLC grew its position in Exxon Mobil by 1.6% during the 4th quarter. Dividend Assets Capital LLC now owns 36,722 shares of the oil and gas company’s stock worth $3,071,000 after acquiring an additional 595 shares during the last quarter. Finally, Woodmont Investment Counsel LLC grew its position in Exxon Mobil by 0.9% during the 3rd quarter. Woodmont Investment Counsel LLC now owns 65,615 shares of the oil and gas company’s stock worth $5,379,000 after acquiring an additional 607 shares during the last quarter. 51.84% of the stock is currently owned by hedge funds and other institutional investors.

Top Oil Stocks To Invest In Right Now: Magellan Midstream Partners L.P.(MMP)

Advisors' Opinion:

• [By Ethan Ryder]

  Magellan Midstream Partners (NYSE:MMP) had its price target boosted by Barclays from $72.00 to $74.00 in a research note released on Monday morning. Barclays currently has an equal weight rating on the pipeline company’s stock.

• [By Matthew DiLallo]

  In addition to those pipelines already under construction, companies continue to pitch new projects to shippers in hopes of locking in the next wave of growth. The latest entry into this building boom is the proposed Permian Gulf Coast pipeline, which is a joint venture between Energy Transfer Partners (NYSE:ETP), Magellan Midstream Partners (NYSE:MMP), MPLX (NYSE:MPLX), and Delek US Holdings (NYSE:DK). The line could be in service as soon as mid-2020 if everything goes according to plan.

• [By Joseph Griffin]

  TRADEMARK VIOLATION NOTICE: “Magellan Midstream Partners, L.P. (MMP) Shares Sold by Tdam USA Inc.” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/4134187/magellan-midstream-partners-l-p-mmp-shares-sold-by-tdam-usa-inc.html.

• [By Lisa Levin] Gainers McDermott International, Inc. (NYSE: MDR) rose 19 percent to $7.20 in pre-market trading. Subsea 7 S.A. confirmed a $7.00 per share proposal to acquire McDermott. Clarus Corporation (NASDAQ: CLAR) rose 18.5 percent to $8.00 in pre-market trading. Enbridge Inc. (NYSE: ENB) rose 9.3 percent to $34.09 in pre-market trading after falling 2.41 percent on Friday. Lannett Company, Inc. (NYSE: LCI) rose 8.4 percent to $18 in pre-market trading. Lannett named Maureen M. Cavanaugh as senior vice president and chief commercial operations officer. Navios Maritime Midstream Partners L.P. (NYSE: NAP) rose 7.1 percent to $4.55 in pre-market trading after gaining 11.26 percent on Friday. Corcept Therapeutics Incorporated (NASDAQ: CORT) rose 6.9 percent to $18.80 in pre-market trading after falling 3.19 percent on Friday. Helios and Matheson Analytics Inc. (NASDAQ: HMNY) rose 5.7 percent to $2.40 in pre-market trading after falling 10.98 percent on Friday. Vectren Corporation (NYSE: VVC) shares rose 5.6 percent to $69.20 in pre-market trading. CenterPoint Energy, Inc. (NYSE: CNP) announced plans to acquire Vectren for $72 per share in cash Genprex, Inc. (NASDAQ: GNPX) shares rose 5.2 percent to $4.50 in pre-market trading. Atossa Genetics Inc. (NASDAQ: ATOS) rose 5.1 percent to $3.70 in pre-market trading after declining 19.35 percent on Friday. Sangamo Therapeutics, Inc. (NASDAQ: SGMO) shares rose 5 percent to $20 in pre-market trading. Magellan Midstream Partners, L.P. (NYSE: MMP) shares rose 5 percent to $68.41 in pre-market trading. Halozyme Therapeutics, Inc. (NASDAQ: HALO) shares rose 4.9 percent to $19.78 in the pre-market trading session.

  Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.

• [By Reuben Gregg Brewer]

  Investing when you are young is generally focused on growing your nest egg. And as you near retirement, that starts to change to a goal of living off your savings. Doing that can be a lot easier if you focus on dividend-paying companies backed by stable businesses. Here are three high-yield stocks that fit that bill: Magellan Midstream Partners LP (NYSE:MMP), Duke Energy Corporation (NYSE:DUK), and Procter & Gamble (NYSE:PG).

• [By John Bromels]

  Luckily, the oil and gas sector is one of the best places in the entire stock market to look for reliable investment picks that you can buy and leave alone in your portfolio for months -- or even years -- at a time. And three of the most solid choices right now, for my money, are Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B), Total SA (NYSE:TOT), and Magellan Midstream Partners (NYSE:MMP).

Top Oil Stocks To Invest In Right Now: Apache Corporation(APA)

Advisors' Opinion:

• [By ]

  Now, I haven't dabbled in U.S. shale oil or in the permian basin since I extracted myself from Apache (APA) several months ago after an epic fight in the name of capital preservation. But The Wall Street Journal ran a piece last week explaining that due to already-mentioned distribution bottlenecks, Permian-basin oil prices had fallen below $60 a barrel despite the fact that WTI futures were trading above $70.

• [By Matthew DiLallo]

  In addition, the company continues to find needle-moving expansion projects, having recently unveiled the development of the Permian Highway Pipeline Project. Kinder Morgan is developing the $2 billion natural gas pipeline with private equity-backed EagleClaw Midstream and Apache Corporation (NYSE:APA). It's a follow-up to the Gulf Coast Express Pipeline (CGX), which is a $1.75 billion gas pipeline it's building with two other midstream companies and Apache. Kinder Morgan has already started work on GCX, which should be in service by October 2019, while PHP could follow a year later if the company gives it the green light. These projects will help offset some of the growth it will lose by selling Trans Mountain.

• [By Max Byerly]

  US Bancorp DE decreased its stake in shares of Apache Co. (NYSE:APA) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,332 shares of the energy company’s stock after selling 8,948 shares during the period. US Bancorp DE’s holdings in Apache were worth $5,592,000 as of its most recent SEC filing.

• [By Steve Symington, John Bromels, and Keith Noonan]

  So, we asked three top Motley Fool contributors to each discuss a stock that they believe is absurdly cheap right now. Read on to learn what they had to say about JD.com (NASDAQ:JD), Apache Corporation (NYSE:APA), and Baidu (NASDAQ:BIDU).

• [By Ethan Ryder]

  State Board of Administration of Florida Retirement System lifted its stake in shares of Apache Co. (NYSE:APA) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 558,840 shares of the energy company’s stock after purchasing an additional 28,598 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Apache were worth $26,126,000 at the end of the most recent quarter.

Top Oil Stocks To Invest In Right Now: Range Resources Corporation(RRC)

Advisors' Opinion:

• [By Paul Ausick]

  Range Resources Corp. (NYSE: RRC) fell about 4.4% Tuesday to post a new 52-week low of $14.43 after closing at $15.09 on Monday. The 52-week high is $34.93. Volume of about 15 million was nearly double the daily average of around 7.7 million shares traded. The company had no specific news.

• [By Tyler Crowe, Matthew DiLallo, and Reuben Gregg Brewer]

  So we asked three of our investing contributors to each highlight a company they think has a compelling investment case right now in the oil and gas industry. Here's why they selected Devon Energy (NYSE:DVN), Range Resources (NYSE:RRC), and ExxonMobil (NYSE:XOM).

• [By Joseph Griffin]

  Range Resources Corp. (NYSE:RRC) – Research analysts at Piper Jaffray Companies upped their Q1 2019 earnings per share (EPS) estimates for Range Resources in a report issued on Monday, August 27th. Piper Jaffray Companies analyst D. Kistler now anticipates that the oil and gas exploration company will post earnings of $0.43 per share for the quarter, up from their prior forecast of $0.42. Piper Jaffray Companies has a “Buy” rating and a $27.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q2 2019 earnings at $0.35 EPS, Q4 2019 earnings at $0.44 EPS, FY2019 earnings at $1.61 EPS, Q2 2020 earnings at $0.39 EPS and FY2020 earnings at $1.93 EPS.

Top Oil Stocks To Invest In Right Now: Transocean Inc.(RIG)

Advisors' Opinion:

• [By Tyler Crowe]

  Three stocks on my watchlist that look incredibly cheap and will likely be high up on my next buy list are LGI Homes (NASDAQ:LGIH), U.S. Silica Holdings (NYSE:SLCA), and Transocean (NYSE:RIG). Here's why they look compelling to me now and why Wall Street seems to be assigning them such modest valuations. 

• [By Max Byerly]

  Shares of Transocean LTD (NYSE:RIG) gapped down prior to trading on Thursday . The stock had previously closed at $13.41, but opened at $13.13. Transocean shares last traded at $12.81, with a volume of 16922465 shares trading hands.

• [By Stephan Byrd]

  Transocean (NYSE:RIG) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat reports.

• [By Jason Hall]

  On June 27, shares of Seadrill Ltd (NYSE:SDRL), Diamond Offshore Drilling Inc (NYSE:DO), and Ensco PLC (NYSE:ESV) traded up more than 10% at various points. And while they've cooled off a bit -- up 9.9%, 10.3%, and 8.9%, respectively, at recent prices -- they continue to march toward today's close with big gains. And while not quite as much as the three aforementioned companies, shares of Transocean LTD (NYSE:RIG) and Noble Corporation PLC (NYSE:NE) are showing big days as well, up 6.4% and 7.2% in late-afternoon trading.