Breaking

Buy Verizon (VZ) Stock for its Dividend and 5G Future? - Yahoo Finance
Oct 19, 2020 9 mins, 31 secs
cellphone carrier by subscribers said that it “expects total wireless service revenue growth for third-quarter 2020 of -1 percent to flat year over year.”.

Plus, VZ in early September announced that it raised its quarterly dividend for the 14th year in a row?

Click to get this free report.

(T) : Free Stock Analysis Report.

Microsoft Corporation (MSFT) : Free Stock Analysis Report.

(VZ) : Free Stock Analysis Report.

(CSCO) : Free Stock Analysis Report.

(AAPL) : Free Stock Analysis Report.

(NFLX) : Free Stock Analysis Report.

(AVGO) : Free Stock Analysis Report.

(TMUS) : Free Stock Analysis Report.

(ZM) : Free Stock Analysis Report.

Data was reported last week by the federal government on diesel inventories that was historic in the magnitude of the change from the prior week.

It could mark a shift in the weak diesel market that has benefited carriers and drivers for several months. Ultimately, the price of diesel will be set primarily by the price of crude.

But the spread between crude and diesel is also an important factor in the final pump price.

Diesel is a distillate; so is jet fuel.

(Other products besides diesel in the category would include heating oil.)That appears to have shifted.

And the numbers that came out last week (Thursday, actually, due to the Columbus Day holiday) were eye-popping when it comes to diesel.The most easily understood inventory number is "days cover." That number is reached by taking daily consumption, dividing it into inventories and the result is the number of days of consumption that could be covered by existing stocks.For distillate inventories that don't include jet fuel, that number tends to run in the range of 28-35 days.

But earlier this year, as diesel inventories began to soar due to changes being made by refiners seeking survival — more on that later — the days cover figure broke above 50 days.

It was never sustained above that level.This year, the days cover figure broke through 50 days in late May and stayed above it for nine out of the next 10 weeks.

A year ago at this time, it was 4.36 million b/d.Second, refiners made a lot less of it.

In its latest monthly report, the International Energy Agency (IEA) said middle distillate inventories in Europe in September rose just 500,000 b/d.

They've gotten down to levels closer to earlier highs, still excessive but not chart-busting.  Source: International Energy AgencyIn Asia, the IEA reported that middle distillate inventories rose with historic norms.

(Autumn tends to be a time in oil markets of inventory building as the world prepares for winter.)Although the decline in distillate inventories in the U.S.

Brent crude, the world's benchmark and the more relevant marker for comparison with diesel, was $43.15/barrel on Sept.

Last Friday, it settled at $43.32./bDuring that time, the front-month price of ultra low sulfur diesel on CME rose to $1.1791/gallon from $1.1598/g.

17.But by point of comparison, to show how much all that diesel inventory had held down prices relative to crude, the spread a year ago was about 53 cts/gallon. The current diesel to Brent spreads aren't sustainable.

Diesel has not entered a permanent, long-term realignment against crude.

Shares in South Korean automaker Hyundai Motor Co <005380.KS> and affiliate Kia Motors Corp <000270.KS> tumbled as much as 6% on Tuesday after warning third-quarter earnings would be hit by a further $3 billion in charges related to engine problems.

Each is down at least 60% so far this year, but each also has a Strong Buy consensus rating and at least 40% upside potential for the coming months.Diamondback Energy (FANG)First up is Diamondback Energy, a Texas oil company that has been part of the Permian Basin boom which put Texas once again at the forefront of the North American oil industry.

While this number is up 40,000 barrels from the springtime, Diamondback has been hit hard by low oil prices in recent months and the stock is down 68% year-to-date.The low prices on the open oil market have impacted Diamondback’s bottom line, and earnings have been falling steadily from their $1.93 per share peak in 4Q19.

However, it’s important to note here that Diamondback has beaten the earnings forecasts in the last three quarters.On a more positive note, company management points out that despite recent low earnings, FANG was able to end Q3 without touching its revolving credit facility – and that the company has over $2 billion in liquid assets available.

Given a focus on continuous cost reduction, we believe the company has the inventory depth and balance sheet strength to be a relative outperformer through the downturn,” Jayaram wrote.Jayaram rates FANG shares an Overweight (i.e. Buy), and his $48 price target suggests a 68% upside potential by next year.

The stock is selling for $28.58 per share, and its $52.10 average price target is even more bullish than Jayaram’s, implying an upside of 82%.

(See FANG stock analysis on TipRanks)ChampionX Corporation (CHX)Next up is ChampionX, an oilfield technology company acquired its current name this past summer, through the merger of Apergy Corporation and ChampionX Holdings.

Even though, as a midstream and service company, ChampionX does not directly pull the oil out of the ground and sell it, its operations are tied to the end users’ purchase price.

He gives the stock a $12 price target, indicating confidence in 48% upside growth for the coming year.

(See CHX stock analysis on TipRanks)Gol Linhas (GOL)From the oil industry, we move to the airline industry.

The difficulties facing the airline industry are apparent in GOL’s 62% share price decline since the start of the year.The hit Gol Linhas has taken is clear from the revenues and earnings.

Quarterly revenues for GOL were above $3.8 billion before the corona crisis.The drop in revenue brought a serious loss in earnings?

The company typically sees a drop off from Q4 to Q1 in earnings, and this year was no exception.

"As we believe 2020 and 2021 will not be representative of GOL’s normal earnings potential, we are basing our 12-month PT on our 2022 forecast as GOL and the global airline industry begin to recover from the effects of COVID-19," the 5-star analyst noted.In line with this long-term optimism, Linenberg sets a $10 price target, implying an upside of 40% over the next 12 months?

(See GOL stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts.

stock jumped 4.7% in Tuesday premarket trading after the grocery retailer reported second quarter earnings that beat expectations and gave upbeat full-year guidance.

Sales of $15.76 billion were up from $14.18 billion last year and ahead of the FactSet consensus of $15.44 billion.

The speed with which Pfizer has moved to develop this vaccine candidate is encouraging to us, and suggests Pfizer may be able to meet its stated objectives of being a faster moving, more nimble biopharmaceutical company, especially once the pending sale of their Upjohn division is completed.”Divan estimates the vaccine could generate sales of $2 billion in 2020-2021 combined, before sales decrease to between $550-600 million from 2024 onwards.However, with various deals similar to the one with the US government in place with several developed countries, pending regulatory approval, sales could actually exceed $8.5 billion between 2020-2021.The additional sales, Divan notes, “would still be meaningful even to a company of Pfizer's size and would provide Pfizer with additional options in terms of investing in their business, pursuing acquisition or licensing opportunities, or returning cash to shareholders.”Overall, Divan has a Buy rating on PFE shares alongside a $43 price target.

(See Pfizer stock analysis on TipRanks)To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analyst

Procter & Gamble said it plans to return between $15 billion and $17 billion to shareholders after boosting its organic sales forecast for the 2021 fiscal year

Tesla went on a monster run since hitting a low point in mid-March, energized by a strong second-quarter earnings report and a stock split

House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin are said to have narrowed some of their differences on a coronavirus aid package; Netflix and Lockheed report earnings; Intel sells its NAND memory chip business

The Mary Barra-led company plans to build its Cadillac Lyriq electric SUVs at the Tennessee plant, the Detroit News reported Monday, as per Reuters.The Lyriq is expected to be brought into production beginning late 2022 and the company could move manufacturing to other plants, resulting in an inflow of investments in other locations, AutoForecast Solutions, a provider of production forecasting information, told Reuters.Why It Matters: Barra has made public plans to invest $20 billion by 2025 in EVs as well as electric vehicle battery technology, noted Reuters.The Michigan-based automaker reportedly has plans to spend $2.5 billion in overhauling and retooling its Detroit-Hamtramck plant to build a GMC Hummer EV pickup truck, a robotaxi as well as other vehicles.The company already manufactures its Chevrolet Bolt vehicles in Detroit, as per Reuters.Rival Volkswagen AG (OTC: VWAGY) has plans to commence production of its ID.4 EV SUVs in Tennessee, as per CNN.Elon Musk-led Tesla Inc (NASDAQ: TSLA) is building its latest Gigafactory in Austin, Texas, which will produce the company's all-electric pickup vehicle, the Cybertruck.GM and embattled EV startup Nikola Corporation (NASDAQ: NKLA) failed to close a manufacturing partnership last month.The two companies have until December to finalize the deal

Price Action: GM shares traded 1.2% higher to $33.75 in after-hours trading on Monday after closing 0.3% lower.Photo Courtesy of WikimediaSee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Tesla Accounts For Majority Of EV Sales In South Korea This Year: Report * Tesla Battery Supplier LG Chem Says Exploring Joint Ventures With 'Couple' Of Automakers(C) 2020 Benzinga.com

Net revenue fell 2.6% to $7.45 billion, beating the FactSet consensus of $7.28 billion

Total cigarette shipments fell 9.8% to 165.46 billion units, as Marlboro shipments declined 10.6% to 61.58 billion units

Heated tobacco shipments rose 18.7% to 18.97 billion units

The stock has lost 8.5% year to date through Monday, while the SPDR Consumer Staples Select Sector ETF has gained 3.7% and the S&P 500 has advanced 6.1%

International Development Finance Corporation, which was due to extend the loan, decided to not "proceed any further" until the company was cleared of allegations.Last month, a special committee appointed by the company's board concluded there were no violations of the law but flagged concerns related to corporate governance.Kodak executives, including Continenza, received 1.75 million stock options a day before it was disclosed to the public, the Journal reported earlier.When asked at the conference about the grant of the options, Continenza maintained that he had not sold any shares and that the grants "shouldn't be the focus."Price Action: Kodak shares gained almost 2% in the after-hours trading at $9.06 on Monday after closing 1% lower at $8.88.Photo courtesy: El Grafo via WikimediaSee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Kodak 5M Loan Deal Under Scanner Of Federal Agency That Put It Together(C) 2020 Benzinga.com

RECENT NEWS

SUBSCRIBE

Get monthly updates and free resources.

CONNECT WITH US

© Copyright 2024 365NEWSX - All RIGHTS RESERVED