(Reuters) – General Electric Co unexpectedly reported quarterly profit and positive cash flow on Wednesday thanks to cost reductions and improved operations in the electricity sector energy and renewable energies, which drove up its shares in pre-market negotiations
Boston-based industrial conglomerate reported third-quarter free cash flow of $ 514 million from industrial operations, up from an outflow of $ 2$ 1 billion in the previous quarter and Refinitiv analysts’ average estimate of an exit of $ 876 million
GE has said it expects industrial free cash flow to be at least $ 2.5 billion in the fourth quarter and positive in 2021
Adjusted earnings for the quarter stood at 6 cents per share versus Refinitiv analysts’ average estimate of a loss of 4 cents per share
The company’s shares, which have fallen about 40% since the start of 2020, are up about 6% in pre-market trading
« We are managing in a still challenging environment with improved operational execution across all of our businesses, » said Lawrence Culp
Culp is trying to turn the business around by improving free cash flow and reducing debt.However, the coronavirus pandemic has hit these efforts by hammering GE’s aerospace unit, typically the most profitable business segment and the plus business cash generator
In response to the crisis caused by the pandemic, GE cuts costs by $ 2 billion and aims to generate $ 3 billion in cash savings The company said it has so far reached 75% of his goal
Electricity and Renewable Energy business revenues rebound from last quarter, even as orders drop double-digit GE aircraft unit revenue plummets by 39% per year in the last quarter
Individual investors have never been so worried about a US stock market crash This counterintuitive reaction is due to investor sentiment being a contrarian indicator Historical data on investor beliefs about probabilities of crashes come from Yale University finance professor (and Nobel Laureate) Robert Shiller
Dow Jones futures were the focus early on Wednesday after Apple and Tesla led the Nasdaq higher on Tuesday Microsoft earnings shattered estimates after the close
Survey reveals that many people make these six money moves with one eye on November 3
For investors, finding the right sign is part of the game Stocks don’t necessarily choose themselves, and investors who choose them should know they are making the right choice Lucky for investors – and for the safety of their portfolios – there are reliable signals that a stock is worth buying One of the best is insider buying Insiders are business leaders, deeply invested in the success or failure of their company, they are usually shareholders themselves – but they are responsible for more than their own portfolios Company executives are accountable to their board of directors, fellow corporate officers and the stock-holding public to ensure earnings and returns on stocks – and so, when these insiders start buying large blocks, investors should take note TipRanks tracks insider trading s, using publicly released stock movements to track them The Insider’s Most Wanted Stock page provides the scoop on what stocks market insiders are buying – or selling – so you can make informed purchases We’ve selected three stocks with recent informative buys to show how the data works for you Agree Realty Corporation (ADC) First on the list is a large company in the REIT segment Agree Realty, based in Metro Detroit, is focused on l Acquisition and development of properties for renowned retail tenants At the end of 3Q20, Agree’s portfolio included 1,027 properties in 45 states and totaled some 21 million square feet of leasable area The company’s tenants include 7 -Eleven, AutoZone, Dollar General, and Wendy’s franchises, among others Agree’s third quarter results, released earlier this month, showed a sequential increase in EPS from 76 cents to 80 cents and total rental income of $ 637 million The company declared a quarterly record of $ 470 7 million in rental investment and increased its dividend The dividend of 60 cents per share offers to investors a 367% return All of this comes at a time when many REITs have reported difficulty collecting rents as tenants have had to deal with the financial repercussions of the corona crisis In this area, however, Agree has seen success outstanding The company said it received 96%, 97% and 99% of the rents due in July, August and September Agree to deferral agreements for an additional 2% of its tenants This success in rent collection provided the basis for the strong quarterly revenue stream already notedOn October 22, Agree attended a big insider trade CEO and Chairman Joey Agree bought 15,293 shares, spending over $ 1 million This brings insider sentiment here into positive territory Covering this stock for Raymond James, analyst RJ Milligan writes, “With rent collections at 99% for September, ADC continues to go on the offensive as most of its peers still hunt for rents We believe the sharp increase in acquisition forecasts will push Street’s estimates significantly higher for 2021/2022, which will likely serve as a positive catalyst that ADC investors have been waiting for.Milligan rates the stock as a strong buy and sets a price target of $ 82 which indicates a margin for growth of 27% in the coming year (To see Milligan’s track record, click here) Overall, ADC Achieves Strong Buy Consensus Rating, Based on Recent Unanimous 5 Buy Opinion ADC Shares Sell $ 64 61 and Their $ 74 38 Average Price Target Rises 14% YoY (See Market Analysis ADC on TipRanks) First American Financial (FAF) Next on our list is First American Financial, a title insurance company and FAF lenders is a fixture in the mortgage industry, where its insurance products are essential to securing loans The real estate company also deals with property and casualty insurance policies, and saw $ 6 billion in total revenue last year after seeing steep drops up and down in the first quarter of this year during the economic downturn brought on by the he coronavirus pandemic, FAF saw a sharp recovery The company experienced sequential revenue growth in Q2 and Q3, with revenue increasing from $ 1.4 billion in the first quarter to $ 1.6 billion in the second and finally 1 $ 9 billion in the third quarter Third quarter profit rose 24% to $ 1.31 per share FAF recently saw a major insider buy It wasn’t a million dollars, but the $ 191,000 purchase of 4,000 shares was still important and gave the action an overall positive insider feel The buyer was Mark Oman, of the board of directors Among FAF fans is Mark Hughes, 5-star analyst at Truist Financial The analyst gives the stock a buy rating with a price target of $ 66 to suggest an increase of 41% over the next 12 months (To view Hughes’ track record, click here) Supporting his position, Hughes notes the steady flow of business for the company, writing: “Last month, open purchase orders amounted to 2,500 a day, up 21% year on year That compared to July’s total of 2,400 per day, which was up 6% from the same month last year.In the refi category, the daily count held sequentially at 3,200, up 46% from the same month last year. compared to August 2019 « » Our price target of $ 66 assumes the stocks are trading at just under 15 times our estimate of 2021 earnings, at the recent high end of the stock’s companies – we believe this is appropriate in light of healthy industry fundamentals – but still with a larger than usual discount from the S&P 500, « concluded analyst Hughes’ review is one of two recent recommendations recorded for FAF, making the analyst consensus here a moderate buy The average price target is $ 65, giving the stock a potential up 39% from the current stock price of $ 4662 (See FAF Stock Market Analysis on TipRanks) Eastern Bankshares (EBC) The last stock on our list is a new one in the market Easter Bankshares is a holding company, owner of Eastern Bank, a Massachusetts-based community bank – and the oldest mutual bank in the United States Earlier this month, Eastern changed from mutual organization status to a joint stock company, selling over 179 million common shares. The offering price was $ 10 per share and the sale brought in more than $ 1 79 billion for the company And that’s where the insider trading comes into play Eastern executive directors have made significant share purchases on IPO Company CEO and Chairman of the Board Robert Rivers made the largest purchase, for $ 2 million, and Executive Vice President Barbara Heinemann bought $ 1.02 million of shares Five members of the board made purchases of more than $ 1 million or more Most of these purchases concerned corporate officers taking their personal stakes in the company and constituting shares in connection with of their compensation programs It’s a routine in the corporate world But these large stock purchases – 7 of at least $ 1 million, and 10 of over $ 200,000 or more – are a testament to confidence in the company and the willingness of senior leaders to put their own skin in the gameSpeaking to the analyst community, analyst Laurie Havener, who covers this new stock for Compass Point, wrote: “We love the EBC story because it offers investors a unique opportunity to invest in a company. Boston based, too well capitalized, 200 years old bank well below the book Mostly, EBC has a desirable franchise footprint, ranked 5 in the Boston MSA, with a fabulous low cost deposit baseTo that end, Havener credits EBC with a purchase with a price target of $ 15, suggesting that this bank holding company has room for upward growth of 24% in the coming year. (To watch Hunsicker’s history, click here) Judging by the break in consensus, he has been relatively calm with respect to other analyst activity In recent weeks, only 2 analysts have looked at the bank Les two, however, were bullish, making the consensus a moderate buy (See EBC stock market analysis on TipRanks) Disclaimer: The opinions expressed in this article are solely those of the featured analysts The content is intended to be used for the purposes of information only It is very important to do your own analysis before making any investment
GE defied forecast for third quarter loss General Electric reported positive cash flow, even better seen in fourth quarter GE Stock surged ahead of opening
Jim Cramer on Tuesday’s “Mad Money” shared his thoughts on Advanced Micro Devices, Inc (NASDAQ: AMD), Inovio Pharmaceuticals, Inc (NASDAQ: INO) and Honda Motor Co, Ltd (NYSE: HMC) On AMD: Cramer Says « AMD Has Much More Wiggle Room » Following Strong Company Results and acquisition of Xilinx, Inc (NASDAQ: XLNX) Cramer also notes that AMD CEO Lisa Su has incredible leadership and will continue to grow this business. On INO: As the FDA halted trial of the company’s COVID-19 vaccine, Cramer said « there are better fish to fry » in this industry and he will be leaving this company On HMC: When Cramer was asked what he thought of Honda, he said he would rather have General Motors (NYSE: GM) or Ford Motor (NYSE: F) See more from Benzinga * Click here for transactions ‘Benzinga options * Jim Cramer on American Express earnings * Jon Najarian sees unusual options activity in 2020 Sonos And Saber (C) Benzingacom Benzinga does not provide investment advice All rights reserved
Bonds are too volatile for their low yields, and holding cash too long will take a toll on your portfolio, says founder of world’s largest hedge fund
While you might not need to make any changes if President Trump wins a second term, financial advisers suggest planning potential changes now under a Biden administration so you don’t fall out on the last one. minute
General Electric CEO Larry Culp says industry free cash flow will grow to ‘at least $ 2.5 billion in the fourth quarter’ and continue to be ‘positive in 2021’
Boeing profits reflect the double crisis of COVID-19 and the 737 MAX on the ground, which has not flown for more than a year
The September quarter will be the last without a contribution from sales of the new iPhone 12 lineup, but the results could still surprise
Big tech stocks still have a bit of a « rebound, » CNBC « Mad Money » host Jim Cramer said on Tuesday What happened: Cramer theorized, basing his analysis on interpreting charts by Katie Stockton, that the so-called FAANG – made up of Facebook Inc (NASDAQ: FB), Amazoncom, Inc (NASDAQ: AMZN), Apple Inc (NASDAQ: AAPL), Netflix, Inc (NASDAQ: NFLX) and parent company Google Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) – as well as Microsoft Corporation (NASDAQ: MSFT) are « ready to roll higher, » reported CNBCCramer singled out the stochastic oscillator, an indicator used to measure market conditions. overbought and oversold on the daily chart of FAANG stocks « FAANG has come down too far, too fast, which means it could be due to a continued rebound, » Cramer said Why it matters: All FAANG stocks have increased, as did the Nasdaq by 064%, on Tuesday « Whenever the of Covid increases, you had to buy the FAANG [plus Microsoft] names because they all found ways to profit from the pandemic, « Cramer said. The former hedge fund manager said investors had » the blessing of ‘buy a bit’ before these companies report profits on Thursday night »If they are dark after the gains, I bet they will be safe to buy some more weakness, » the TV host joked. See more from Benzinga * Click here for Benzinga options trades * Trump campaign website hacked, attackers demand cryptocurrency in exchange for spilling Secrets * Bitcoin nears 2018 post-bubble highs as mainstream adoption drives rally (C) 2020 Benzingacom Benzinga does not provide investment advice All rights reserved
(Bloomberg) – Investor David Einhorn said tech stocks are in a “huge” bubble and he’s added a series of short bets to take advantage of it. “The question is, where are we? us in the psychology of this bubble? » the head of the hedge fund Greenlight Capital wrote in an oct 27 note, seen by Bloomberg « Our working hypothesis, which could be rebutted, is that September 2, 2020 was the peak and the bubble has already burst If so, investor sentiment is shifting from greed to complacency « Tech stocks have led the market rally this year The Nasdaq 100 index is up 33% since January 1, led by the gains of Zoom Video Communications Inc and Tesla Inc In contrast, the S&P 500 rose 53% Signs of a bubble, Einhorn points to IPO mania, huge market concentration in a small group of stocks or a single sector, extraordinary valuations and ‘incredible’ trading volumes of speculative instruments As a result, Greenlight has adjusted the portfolio of companies it bets against by adding a new bubble basket consisting primarily of « second-tier companies and recent IPOs to valuations. remarkable ”, he wrote Einhorn has long owned what he calls a short betting bubble basket featuring tech giants such as Amazoncom Inc and Netflix Inc A company spokesperson declined to comment This is not the first time that Einhorn has reported a tech bubble In early 2016, he « prematurely identified what we thought was a bubble, » he writes The road has been tough for Greenlight recently The fund is down 161% through September and has attempted to recoup losses that began in 2015 As of January 1, the company managed $ 2.6 billion, down from tops $ 12 billionOther letter highlights: Upcoming elections may rank « among the most perilous, war-free times in modern American history » A ‘storm’ of unrest linked to the Covid pandemic – including inequality, violence and calls for social change – could explode after election, regardless of which side wins The fund has launched ‘mid-sized’ long positions in the information technology companySynnex Corp, Austrian sensor maker AMS AG and ATM maker NCR Corp While a few Greenlight employees work in the company’s New York offices, which have been open since late summer, most employees continue to work from home, he said(Add additional tech commentary from seventh paragraph) For more posts like this please visit us at bloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP
Blackstone Group LP said on Wednesday that third quarter distributable income rose 9% year-over-year, the world’s largest manager of alternative assets such as private equity and l ‘real estate having taken advantage of the rise in company valuations to collect part of its debt Buyout investments This translated to distributable earnings per share of 63 cents, beating the average analyst estimate of 57 cents, according to data compiled by Refinitiv Blackstone said its private equity portfolio appreciated 122% in the third quarter, up from 85% increase in the benchmark S&P 500 stock index over the same period
Tesla and AMD shares are among the notable stocks that have tried to clear early buy points These struggles could tell more about the stock rally
(Bloomberg) – Shareholders of Rolls-Royce Holdings Plc have backed a £ 2bn (26bn) capital raise, a key step towards strengthening the UK engine maker’s finances to survive Covid-19 pandemic Investors voted 995% in favor of the rights issue, a statement said Tuesday Their support means Rolls-Royce can access an additional £ 3bn of funds, through a sale of bonds and a term loan of one billion pounds, both conditional on the adoption of the rights issueRolls-Royce’s engine business has been hit hard by the coronavirus, with unit sales and maintenance revenue affected by massive widebody aircraft grounding The company announced a £ 5 billion refinancing plan at the start of this month, financed by a combination of debt issuance, an offer of rights and loans, and no longer urgently needs to extend borrowing guaranteed by the UK government Rolls-Royce shares slipped 23% to 22,100 pence from 1:27 pm in London, down more than two-thirds this year The package aims to take Rolls-Royce through 2022, when the company plans to resume sufficient cash generation alongside a gradual recovery in air travel demand CEO Warren East also said the company could sell assets by repositioning itself for the future “We didn’t want to jeopardize the business and the interests of our shareholders by betting on the situation next year, this is why we have chosen to adopt this package now ”, said the CEO at an investor meetingEven with secured funding, Rolls-Royce still faces a tough road to recovery The company’s supplied twin-aisle planes are expected to take at least 2025 to return to pre-pandemic levels and the group has announced its intention to cut 9,000 jobsRolls-Royce recently briefed civil aerospace staff about the restructuring, a company spokeswoman said on Tuesday Plans include temporary plant closures, reduced working hours and reduced benefits, says Financial TimesThe company is also taking steps to reduce its sprawling global footprint According to a recent investor presentation, Rolls plans to consolidate widebody assembly and testing as well as turbine blade machining at its Derby site, while concentrating fan blade production in Singapore and component manufacturing in Derby and GermanyRead: Home of Job Cuts’ jet engine coils, Covid and Brexit contain the virus East said it sees no opportunity for new engine programs this decade, although Rolls-Royce has expressed interest in providing a new mid-range airliner if Boeing Co decides to go ahead with the concept, according to people familiar with the matter (Updates with final vote result, restructuring details in second paragraph) For more for articles like this please visit us at bloombergSubscribe now to stay ahead with the most trusted source of business news © 2020 Bloomberg LP
A « huge » bubble in tech stocks likely burst in September, setting the market top, hedge fund manager David Einhorn warned in a letter to investors
Today after the bell, Microsoft released its third quarter 2020 earnings schedule, the period corresponding to its first quarter 2021 fiscal period In the three months ending September 30, Microsoft reported revenue of $ 37 billion and earnings per share of $ 1.82 Analysts had forecast the company to bring in $ 1.54 in earnings per share, generated from of $ 35 72 billion in turnover
Equity futures opened lower on Tuesday night after another volatile day on Wall Street as investors continue to digest the still high number of coronavirus cases in US and Europe, assessing today’s results elections next week and considering when another round of fiscal stimulus outside Washington could be passed
When looking for the best artificial intelligence stocks to buy, identify companies that use AI technology to improve their products or gain a strategic advantage, such as Microsoft, Netflix, and Nvidia
General Electric, NYSE: GE, Stocks, Earnings, Cash Flow
World News – CA – GE Reports Quarterly Profit as Business Recovers from Lows of One pandemic
