World news – US – Bitcoin exceeds $ 18,000

Bitcoin (BTC) continued its explosive rally on Tuesday, breaking through the crucial $ 18,000 level late in the day. As of 11:26 AM. M. ET, the world’s major cryptocurrency, trades 9. 25% higher in the subsequent 24-hour period at $ 18,172. 05.

Among other cryptocurrencies, Chainlink (LINK) increased by 10. 94% at $ 14. 14 at the time of writing. Ethereum rose (ETH) 6. 42% at $ 490. 88.

The largest stable currency by volume, Tether (USDT) traded at the intended price of US $ 1 with US $ 58 billion over a 24-hour period. Bitcoin Cash (BCH), a Bitcoin solid business, which saw its second hard event last week, rose by 2. 23% off at $ 257. 32.

Bitcoin’s 24-hour trading volume reached $ 43. 9 billion at the time of writing, and cryptocurrency exchanges are gearing up to cope with increased traffic on their platforms.

Coinbase CEO Brian Armstrong said the exchange office is working hard to add additional capacity for both servers and customer support to handle the surge in traffic..

Why it matters: This is the highest Bitcoin has been in circulation at in three years, after it reached an all-time high above $ 20,000 in December 2017.

Several prominent analysts expect Bitcoin to surpass this milestone in the current bullish trend. OKCoin’s chief operating officer told CoinDesk earlier this month that Bitcoin (BTC) will likely see « minimal resistance » on the way to $ 20,000, which could be reached before Christmas..

Citibank analyst Thomas Fitzpatrick has more optimistic estimates of engagement. According to Fitzpatrick, digital assets could reach levels above $ 300,000 before the end of next year.

Others warn of bullish sentiment, citing the volatility that Bitcoin has shown in the past. George McDonough, managing director of KR1, has warned that « Bitcoin could surprise » and there is a possibility that the trading cycle will soon wane..

(Bloomberg opinion) – in an anecdote often attributed to President John F.. Kennedy’s father, the moment he learned to emerge from the stock market boom of the 1920s was when he began receiving stock advice from his shoe-shine boy.. You can make a similar argument about the moment when the leading stock indices finally give their blessing to an upcoming stock. The newest and most dramatic example of that will happen next month, when S&P 500 recognizes Tesla Inc.. Through the club doors for the first time. Take Yahoo Inc. Typical dotcom business found its way into the US major stock index in December 1999, just four months before the crash in internet stocks that took hold of. s. More than a decade to recover from it. New acceptances in the mid-2000s were rich in real estate plays such as CBRE Group Inc. , Boston Real Estate Corporation. And Kimco Realty Corp. Then these companies were hit hard by the mortgage and financial crisis of 2008. Will this time really be different? Certainly, Tesla appears on a more solid footing than it was two years ago, when regulators were leveling fraud charges against Elon Musk and the company was, in his words, « from number one weeks » away from bankruptcy.. Predicted to rise to S&P 500 since its second-quarter results posted profits for a fourth consecutive period, and passed one critical benchmark that keeps a lot of startups out of the index. If we look at it from a more nuanced perspective of operating criticism, it works better. $ 2. The inflow of 4 billion in the third quarter alone was more than the total operating cash in the contract through September 2019. The auto industry as a whole appears to be performing remarkably well in the Covid-19 grip, as the S&P Automotive and Parts Sub-Index on Monday reached its highest level in more than two years.. Tesla is already the eleventh company by market cap on U. s. Exchanges, worth about the world’s three largest carmakers, Toyota Motor Corp.. , Volkswagen AG and General Motors. Put together. Ordinary investors are more likely to see their index tracking funds converting them to indirect Tesla shareholders whether they like it or not.. So what don’t you like? The long-awaited question is about evaluation. Tesla has passed the point at which it is in imminent danger of disappearing, but it is still very difficult to justify the price put on the stock. Returns on equity are increasing even with the broader auto sub-index. Even analysts estimate that they will rise by 20% over the coming years will only bring them in line with levels that were, until recently, considered normal levels for an industry that has not been favored by investors for years.. This kind of pedestrian financial performance is difficult to reconcile with expensive Tesla stocks. The average price of S&P 500 components is 20. Mixed 89 times 12-month futures earnings. Tesla’s price-earnings ratio is 113, which would be enough to give it the richest rating in the index after Under Armor Inc.. , The Boeing Company. And SBA Communications Corp. Comparing Ebitda to Enterprise Value, only six companies have ratings higher than Tesla’s 49. 51 multiple times. It’s very hard to see how Tesla will be able to justify these ratings in the long run. This is the case even if you agree with the most optimistic analysts and assume that the company will generate about $ 10 billion per year in net income by 2022 or 2023, compared to $ 556 million over the past 12 months.. Based on these numbers, a price-earnings multiplier of 20 times would produce a business whose value is not much more than half of Tesla’s current market value of $ 387 billion.. . This is the real lesson for newcomers to the big indicators. Per Yahoo or AOL Inc. Which turns into an example of market surplus, there is Kimco or CBRE who survived but not regaining the magic that drove him into the spotlight.. The 1999 Yahoo hype eventually fell victim to a better search technology developed by a little-known startup called Google.. The race to dominate electric cars over the next decade is scarcely less competitive. This column does not necessarily reflect the opinion of the editorial staff or Bloomberg LP and their owners. David Fickling is a columnist for Bloomberg Opinion covering commodities, as well as industrial and consumer companies. He has worked as a reporter for Bloomberg News, Dow Jones The Wall Street Journal, the Financial Times, and The Guardian. For more articles like these, please visit us at Bloomberg. Com / opinion Subscribe now to stay on top with the most trusted business news source. © 2020 Bloomberg LLC. s.

The four members of Congress known as « The Squad » were among the most outspoken supporters who pushed President-elect Joe Biden to cancel student loan debt during his first 100 days in office..

Thomas H.. K Junior. , President and CEO of Stock Traders Daily and Portfolio Manager at Equity Logic, returns to Need to Know for a new market call. He says investors will wake up to a difficult reality in 2021.

Nio Inc (NYSE: NIO) enters the sedan market, with plans to launch two successive models, EV CEO William Lee said in a quarterly earnings call Tuesday.. What happened: The Chinese electric car maker will launch a sedan « soon » and is currently working on developing another one, he told me without further detailing the schedule, Bloomberg first reported. . So the next two products in the line will be sedans. The annual event « Nio Day », where the company usually unveils new products and technologies, is scheduled to take place in January. Nio confirmed to Benzinga last month, and the launch of the new sedan could come at this time.. Nio usually aims to release one new car each year, and it is unlikely that the second sedan will launch until the company’s next annual event. Why it matters: It has been speculated that Nio will launch a high-performance, all-electric sedan dubbed ET7 for a while, and Li’s comments were no surprise. . The company’s sedan offerings are said to be competing with Tesla Inc. (NASDAQ: TSLA) Model 3 sedans. Nio shares are on the rise but the company led by Elon Musk represents a threatening presence in its home market in China, especially with the launch of the upcoming homemade Model Y.. He told me, in August, that Nio plans to expand internationally by the end of 2020, starting with Europe. On Thursday, the electric car maker reported an adjusted net loss of 996 million RMB, or 146 US dollars. 7 million in the third quarter as total revenue rose 146. 4. % Year on year to $ 666. 6 million. Andrew Lyft of Citron Research, a notorious short selling seller, said late last week that Nio had entered a « unrestricted territory that could never be justified, » making it an upside call that it was time for investors to get paid.. Price Action: After 2. Gaining 17% during trading hours, NIO ADRs are down 1. 05% after-hours at $ 46. 10. SEE ALSO: Nio Unveils 100 KWh Battery, Upgrade Plans: What Investors Should Know, Benzinga Editor Neer Varshney contributed to this report. Image courtesy: Wikimedia. Com. Penanga does not provide investment advice. All rights reserved.

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As the 116th convention approaches, Capitol Hill has become a dead end on nearly every issue, but there is hope for a bipartisan compromise on the issue of retirement.

The year is drawing to a close, and it is time for Wall Street analysts to start reporting their top picks for next year.. It is a long tradition, in most walks of life, to sometimes take a hard look at what lies ahead, and start giving advice on saying like an allegorical crystal ball.. Analysts carefully analyze each stock, looking at its past and current performance, trends in a variety of time frames, and management plans – the analysts take everything into account.. Their recommendations provide valuable guidance for building a flexible portfolio in the new year. As usual, TipRanks gathered data, ranked it in the top picks, and made it available for investors to use. Stock options and their data offer some interesting options. Let’s take a closer look. UTZ Brands (UTZ) UTZ Brands is a familiar brand in the eastern United States. The company is known for its range of snack foods, from the savory rather than sweet. The company’s food range, including pretzels, crisps, snack mixes and popcorn, are frequent choices in vending machines.. In August, UTZ (then known as Utz Quality Foods) completed a business merger agreement with Collier Creek, a special purpose acquisition company.. This combination brought the esteemed snack company into the general trade sphere. Recently, UTZ posted strong third-quarter results and reported entering an agreement to buy rival snack food company Truco.. The quarterly results were released first, on November 5, showing $ 248 million in net sales, an annualized gain of 24%, along with a gross profit of 23% year-over-year.. . One week later, UTZ and Truco announced a $ 480 million acquisition agreement, which will bring the « On the Border » brand of tortilla chips and salsa to the UTZ production line.. This stock covers Oppenheimer, a 5-star analyst, Robisch Barrick, who sees a clear path forward for the company.. “[After] the company’s announcement on 12/11 of the acquisition of Truco Enterprises, [we] generally view very positively the economics of the deals, the opportunity for synergy, leveraging the attractive tortilla category including additional products (salsa and queso), and attractive growth prospects. For the brand, « Barrick said. The analyst concluded, « We believe the company is well positioned to achieve organic sales growth of at least 3-4% and EBITDA growth of 6-8% with a bottom-up option from strategic acquisitions. ». To that end, UTZ remains Parikh’s top pick for small size food. The analyst ranks the stock as a superior performance (i. e. Purchase) with a target price of $ 24. This number indicates a rise of 28% from current levels. (To see Barrick’s record, click here) Overall, Wall Street likes this stock, and has a consensus rating from Excellent Analysts – Strong Buy. Of the 7 analysts that TipRanks have tracked in the past three months, 6 are bullish at UTZ, while only one remains on the sidelines.. With a potential return of around 16%, the agreed target price for the stock stands at $ 21. 71. (See UTZ stock analysis on TipRanks) RingCentral, Inc. (RNG) From salty snacks we turn to communication technology. RingCentral is a cloud-based commercial communications company. The company’s products are software platform packages that combine telephone and computer systems. RingCentral Office’s flagship product platform enables compatibility between the communications system and other popular business applications including DropBox, Google Docs, Outlook and Salesforce. RNG also provides unique features essential to communications systems: call forwarding, phone extensions, vid calls, and screen sharing. A large part of the modern business world is about problem solving, and RingCentral does this for its clients – and the results are visible in revenue and stock performance.. The top line number was increasing through 2020, with third-quarter revenue reaching $ 303 million versus $ 9. 3% winning streak. Shares have easily recovered from the spread of COVID in the middle of winter, and the stock is trading 76% higher so far this year. On the downside, RingCentral is operating with a net loss, and that net loss has deepened even as revenues and stock appreciation rise.. Loss per share for the third quarter was 24 cents. James Fish, a 5-star analyst at Piper Sandler, has written the review on RNG, and is optimistic about the company’s future. RingCentral is winning new customers and expanding with existing ones due to its ability to converge across a suite of communication programs, including with the call center. . . . We continue to recommend RingCentral as one of our « 4 centers » in our coverage and a name to own in the future a few years, Fish commented. As a result, Fish reiterates that RNG is his best pick. The analyst classifies the stock as being overweight (i. e. Buy) along with a $ 362 price target. At current levels, this indicates a potential 21% rise for next year. (To see Fish tracking history, click here) Overall, RingCentral has 10 recent reviews, including 9 purchases and 1 contract, which makes the analyst consensus a solid buy out view.. Average target price is $ 337. 22, indicating a 13% increase from the current trading price of $ 297. 79. (See RNG stock analysis on TipRanks) DraftKings, Inc. (DKNG) is helping the world of fantasy sports to draw fans into games, and now that professional leagues have resumed playing – albeit in shortened seasons, out of respect for coronavirus – DraftKings, which conducts fantasy leagues online, is gaining ground.. In addition to creating the fantasy league, DraftKings offers sports betting, and the company’s online model fits well with the social distancing restrictions put in place to combat the ongoing health crisis of viruses.. In the third quarter, whose results were announced earlier this month, DraftKings had a lot of good news.. Revenue, at $ 133 million, beat expectations by $ 1 million, and the net loss per share was not as deep as analysts had feared.. The company reported a major metric – unique player per month – that crossed a million, which is a milestone. Looking ahead, DraftKings has revised its 2020 fiscal guidance up by 5. 7% is in the middle of the range, to $ 540M to $ 560M. The midpoint of the 2021 revenue forecast is more optimistic, at $ 800 million. As noted, these gains come with the return of the major sports leagues to play. But that is not the only key here. DraftKings operates in 19 states plus DC – jurisdictions that allow legal online sports betting. But there are 8 other states that are in various stages of legalizing the DraftKings niche, and the company is looking to expand its operations.. Rosenblatt analyst Bernie McTernan sums up his expectations for DraftKings, “[DKNG] remains the top pick in our consumer technology coverage.. Third-quarter results will continue to revise positive revenue projections given better-than-expected evidence for the 20E and 21E years. We are on the higher end of the 21E group which we think is achievable given our expectations at least that MI and VA will be online. The analyst added, « The new launches will pressure the adjustment in the near term. EBITDA, but it is encouraging that the company is indicating that New Jersey, the more mature market, is in a similar location where they previously hoped would be due to higher profits.. McTernan rates DKNG a Buy, $ 65 target price target indicates a strong 41% rally for one year. (To see McTernan’s track record, click here) Overall, there are 19 recorded DraftKings reviews, including 13 purchases and 6 bookings, giving the stock a moderate buying rating from the consensus of analysts. Shares are currently priced at $ 46. 24 and you have an average target price of $ 59, which makes the potential upside for next year 38%.. (See DKNG stock analysis at TipRanks) To find good stock trading ideas with attractive valuations, visit Best Stocks to Buy from TipRanks, a newly launched tool that unites all the stock insights for TipRanks. Disclaimer: The opinions expressed in this article are only those of featured analysts. The content is intended for informational use only. It is very important to do your analysis before making any investment.

Stock futures trade rose cautiously as Wall Street weighs progress on a coronavirus vaccine against rising numbers of infections; The flight ban on Boeing 737 MAX jets lifted Wednesday; Morgan Stanley is optimistic about Tesla.

in an organizational file detailing U. s. Holdings of listed shares as of September. 30, Berkshire revealed $ 5. 7 billion new healthcare rations, including more than $ 1. $ 8 billion each in Abbvie Inc, Bristol-Myers Squibb Co, and Merck & Co, and $ 136 million each in Pfizer Inc.. Buffett typically makes large investments for $ 245 to Berkshire. 3 billion stock portfolio itself. « COVID-19 has made us think differently about healthcare, » said James Armstrong, Henry H. Chair.. Armstrong & Associates of Pittsburgh, which owns Berkshire shares.

It was another big quarter at Target as consumers gravitate to the chain for easy shopping.

Indicative Lowe’s earnings below consensus as Covid-related costs impacted third-quarter earnings, after rival Home Depot wins.

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Bridgewater Associates founder Ray Dalio asked for a heavy dose of « radical candor » on Tuesday.

NIO is trading down about 3% after hours after third-quarter results for Chinese electric vehicle startups. This comes on the same day that rival Tesla rose 8% after news of the electric vehicle maker preparing to join the S&P 500 (^ GSPC).

When assessing the stock of oil to be purchased, consider the varied types that focus more on shale oil or specific regions..

Inovio Pharmaceuticals Inc (NASDAQ: INO) reported Monday that it has lifted the partial clinical suspension imposed by the Food and Drug Administration on the initiation of a Phase 2 study of INO-4800, a coronavirus vaccine candidate. Inovio Analyst: Jonathan Aschoff, an analyst at Roth Capital Partners, downgraded Inovio from neutral to selling and maintained a target price of $ 8. Inovio thesis: The phase 3 portion of the INO-4800 program remains in part clinical pending until Inovio satisfactorily resolves the remaining FDA questions related to the CELLECTRA 2000 vaccine delivery device, Aschoff said in a Tuesday note. The analyst said that even if Inovio resolved all issues to help the INO-4800 advance rapidly to the beta 3 phase, the amount of competition would be greater than allowing the INO-4800, if approved, to have a large share, if any, of the market.. . In addition, Inovio’s value has increased nearly 50% since Roth upgraded stocks to Neutral in November. 9, he said. Related link: Next week in biotechnology: vaccine updates, drug presentations, and FDA decisions that will move markets Despite favorable storage requirements, Inovio is promoting its own vaccine candidate, which is the lead time for first pioneers Pfizer Inc.. (NYSE: PFE), Moderna Inc (NASDAQ: MRNA), Johnson & Johnson (NYSE: JNJ), AstraZeneca plc (NASDAQ: AZN) – and the sheer size of three contenders – raise serious questions regarding Inovio’s ability to say to see. The analyst said he did not prefer CELLECTRA requirements to a product that would require such a large-scale release. « When it comes to a huge commercial offering and discouraging it with the big pharma companies, we’re not optimistic about INO-4800, » he said.. INO Price Action: Inovio shares are down by 8. 95% at $ 11. 70 at the close on Tuesday. Related link: Daily Biotechnology Pulse: A Setback for Alkermes, Boston Scientific’s Recall, ALX-Zymeworks Oncology Collaboration Latest INO DateFirmAction FromTo Nov 2020 Roth CapitalDowngradesNeutralSell November 2020 Ruth CapitalUpgradesSellNeutralSellNeutralSeptember 2020Cantor FitzgerDowngradesOver 2020Cantor FitzgerDowngradesOver 2020Cantor FitzgerDowngradesOver 2020Cantor FitzgerDowngradesOver Row 2020Cantor FitzgerDownutrals FDA raises partial clinical commentary on Inovio Phase II coronavirus vaccine study * Inovio drops to a 7-month low upon updates from competing COVID-19 vaccine developers (C) 2020 Benzinga. Com. Penanga does not provide investment advice. All rights reserved.

(Bloomberg) – Lowe’s Cos Inc. It decreased as much as 7. 9% in the early US. s. Trading after announcing third-quarter earnings that were slightly below analysts’ expectations, confirming rising costs in retailers for home improvement that also hit rival Home Depot Inc. Earnings per share came in at $ 1. 98’s at Lowe’s, excluding some items, while analysts expected $ 2 on average. This is the first time the company has missed this metric since the period ended May 2019, according to data compiled by Bloomberg.. Also, expectations for the current quarter were lower than some estimates. The reasons for the poor performance were expenses due to store renovations and Covid-19 related expenses. Sales at Lowe’s and Home Depot have greatly benefited from being considered a primary retailer during the pandemic, driving their shares to rise since the start of the health crisis.. The focus is now on higher costs and, to some extent, slower sales growth compared to the peak of the summer season. . « This would be a classic setting for very strong fundamental results, but below investor expectations, » said Scott Cicarelli, analyst at RBC Capital Markets.. Lowe’s shares fell 6. 2% at 7:30 a.m.. M. Early U. s. trade. The stock is up 33% this year through Tuesday’s close, and is one of the best performers on the S&P 500 retail index this year.. Store sales themselves, a major measure of retail, increased by 30. 1% in the quarter ending in October. 30, surpass 23. 4% average estimate, but slower than the 35% increase in the previous quarter. By comparison, Home Depot on Tuesday posted a gain of 24% in the period ending in November. 1. Lowe’s is trying to maintain its expanded consumer base this holiday season by selling more gifts, and similar sales are expected to earn up to 20% in the fourth quarter, a traditionally slower time for retailers to improve homes.. The downside is that adjusted operating income as a percentage of sales – or profit margin – is expected to be constant, with investment in the supply chain another factor adding to the expenses.. The adjusted earnings per share will be in the range of $ 1. 10 to 1 dollar. 20. The midpoint is slightly below analysts’ estimates, according to estimates compiled by Bloomberg. Store renovations, in part, are aimed at helping clients with professional businesses, which supply professionals such as contractors. The spotlight is now on competitor Home Depot that has announced plans to purchase HD Supply Holdings, Inc.. , A large operator in the sector. For more articles like these, please visit us at Bloomberg. comSubscribe now to keep up with your most trusted business news source. © 2020 Bloomberg LLC. s.

The British company, Arrival, has agreed to merge with CIIG Merger Corp to acquire U. s. Listing on a market valuation is around $ 5. 4 billion, it said on Wednesday. CIIG is a Special Purpose Acquisition Company (SPAC) – a company that raises money in the stock market to buy a working company. The SPACs have been behind some of the most popular public listings in the past 12 months, including electric vehicle startup Nikola Corp and electric car maker Fisker, with investors betting on the startup that will be the next Tesla Inc.. .

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