Hot Insurance Stocks To Watch For 2019

tags:WRB,AIG,TOP,AON,PFG,PRU,

Jane Street Group LLC purchased a new position in Brookfield Business Partners LP (NYSE:BBU) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,583 shares of the business services provider’s stock, valued at approximately $309,000.

Several other institutional investors have also bought and sold shares of the company. OMERS ADMINISTRATION Corp bought a new position in shares of Brookfield Business Partners in the 1st quarter worth about $240,324,000. CIBC Asset Management Inc lifted its position in shares of Brookfield Business Partners by 2.2% in the 1st quarter. CIBC Asset Management Inc now owns 2,823,297 shares of the business services provider’s stock worth $101,614,000 after buying an additional 61,825 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Business Partners by 12.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,373,001 shares of the business services provider’s stock worth $49,442,000 after buying an additional 150,157 shares during the last quarter. Sentry Investments Corp. lifted its position in shares of Brookfield Business Partners by 2.8% in the 1st quarter. Sentry Investments Corp. now owns 962,274 shares of the business services provider’s stock worth $34,651,000 after buying an additional 26,000 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Brookfield Business Partners by 52.3% in the 1st quarter. Toronto Dominion Bank now owns 346,706 shares of the business services provider’s stock worth $12,328,000 after buying an additional 119,112 shares during the last quarter. Institutional investors own 76.45% of the company’s stock.

Hot Insurance Stocks To Watch For 2019: W.R. Berkley Corporation(WRB)

Advisors' Opinion:

• [By Joseph Griffin]

  Get a free copy of the Zacks research report on W. R. Berkley (WRB)

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

• [By Stephan Byrd]

  Get a free copy of the Zacks research report on W. R. Berkley (WRB)

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

• [By Joseph Griffin]

  W. R. Berkley Corp (NYSE:WRB) has received a consensus rating of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $69.33.

• [By Ethan Ryder]

  ValuEngine cut shares of W. R. Berkley (NYSE:WRB) from a buy rating to a hold rating in a report released on Monday morning.

  WRB has been the topic of a number of other research reports. Bank of America cut shares of W. R. Berkley from a neutral rating to an underperform rating and set a $74.00 target price on the stock. in a report on Thursday, June 14th. They noted that the move was a valuation call. Zacks Investment Research cut shares of W. R. Berkley from a buy rating to a hold rating in a report on Tuesday, February 20th. Boenning Scattergood restated a hold rating on shares of W. R. Berkley in a report on Wednesday, April 25th. Finally, Goldman Sachs Group started coverage on shares of W. R. Berkley in a report on Monday. They set a sell rating and a $74.00 target price on the stock. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. W. R. Berkley currently has a consensus rating of Hold and a consensus price target of $70.78.

Hot Insurance Stocks To Watch For 2019: American International Group Inc.(AIG)

Advisors' Opinion:

• [By Logan Wallace]

  Sentry Investment Management LLC lessened its holdings in American International Group (NYSE:AIG) by 8.6% during the first quarter, HoldingsChannel reports. The firm owned 64,968 shares of the insurance provider’s stock after selling 6,147 shares during the quarter. Sentry Investment Management LLC’s holdings in American International Group were worth $3,536,000 at the end of the most recent reporting period.

• [By Logan Wallace]

  Gifford Fong Associates acquired a new position in shares of American International Group (NYSE:AIG) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 44,100 shares of the insurance provider’s stock, valued at approximately $2,400,000.

• [By ]

  Insurance company American International Group Inc. (AIG) stock fell 5.3% as harsh winter weather weighed on profits. But the company's long-term care exposure is relatively minimal.

• [By Lee Jackson]

  American International Group Inc. (NYSE: AIG) was only a DJIA member for four years when it was removed on September 22, 2008. In an ironical twist, AIG was replaced with Kraft Foods, which only lasted about four years on the index. AIG was removed during the credit and mortgage crisis and was ejected after the government propped up the insurer with stimulus funds. The shares closed most recently at $55.43.

• [By Stephan Byrd]

  Suntrust Banks Inc. boosted its position in shares of American International Group Inc (NYSE:AIG) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,736 shares of the insurance provider’s stock after purchasing an additional 4,048 shares during the period. Suntrust Banks Inc.’s holdings in American International Group were worth $1,998,000 at the end of the most recent reporting period.

• [By Lisa Levin]

   

  Losers Heat Biologics, Inc. (NASDAQ: HTBX) shares tumbled 48.59 percent to close at $1.275 on Thursday after the company priced its $18,000,000 public offering. InVivo Therapeutics Holdings Corp. (NASDAQ: NVIV) fell 38.77 percent to close at $8.26 on Thursday. Check-Cap Ltd. (NASDAQ: CHEK) shares tumbled 27.43 percent to close at $8.81. Achaogen, Inc. (NASDAQ: AKAO) dropped 24.76 percent to close at $11.06 in reaction to a disappointing update from an FDA AdCom panel. The FDA panel voted favorably for the company's Plazcomicin for treatment of adults with complicated urinary tract infections, but also voted against the therapy to be used as a treatment for bloodstream infections. Anika Therapeutics, Inc. (NASDAQ: ANIK) shares declined 24.68 percent to close at $34.80 after the company posted downbeat quarterly results. LSC Communications, Inc. (NASDAQ: LKSD) shares fell 24.22 percent to close at $12.64 following wider-than-expected Q1 loss. Cardinal Health, Inc. (NYSE: CAH) fell 21.42 percent to close at $50.80 following downbeat quarterly profit. Horizon Global Corporation (NYSE: HZN) dropped 20.42 percent to close at $6.00 following downbeat quarterly earnings. Hornbeck Offshore Services, Inc. (NYSE: HOS) slipped 20.11 percent to close at $2.90 following wider-than-expected Q1 loss. Esperion Therapeutics, Inc. (NASDAQ: ESPR) fell 19.28 percent to close at $36.93. Esperion Therapeutics stock lost roughly a third of its value Wednesday after the company reported mixed Phase III results for its leading drug candidate, bempedoic acid. JP Morgan downgraded Esperion Therapeutics from Neutral to Underweight. Laredo Petroleum, Inc. (NYSE: LPI) declined 17.77 percent to close at $8.98 after the company reported weaker-than-expected Q1 earnings. The Habit Restaurants, Inc. (NASDAQ: HABT) dipped 16.1 percent to close at $8.60 after the company reported downbeat quarterly results. Arcadia Biosciences, Inc. (N

Hot Insurance Stocks To Watch For 2019: Topdanmark A/S (TOP)

Advisors' Opinion:

• [By Logan Wallace]

  TopCoin (CURRENCY:TOP) traded down 15.4% against the dollar during the 1-day period ending at 7:00 AM E.T. on June 21st. During the last seven days, TopCoin has traded up 4% against the dollar. TopCoin has a market cap of $0.00 and approximately $123.00 worth of TopCoin was traded on exchanges in the last day. One TopCoin coin can currently be bought for about $0.0010 or 0.00000015 BTC on popular exchanges.

Hot Insurance Stocks To Watch For 2019: Aon Corporation(AON)

Advisors' Opinion:

• [By Joseph Griffin]

  AON (NYSE:AON) had its price target hoisted by Citigroup from $160.00 to $165.00 in a report issued on Tuesday morning. They currently have a buy rating on the financial services provider’s stock.

• [By Logan Wallace]

  AON (NYSE: AON) and CorVel (NASDAQ:CRVL) are both finance companies, but which is the better investment? We will contrast the two companies based on the strength of their earnings, institutional ownership, valuation, profitability, risk, analyst recommendations and dividends.

• [By Shane Hupp]

  BB&T Securities LLC raised its holdings in Aon PLC (NYSE:AON) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,068 shares of the financial services provider’s stock after purchasing an additional 1,352 shares during the period. BB&T Securities LLC’s holdings in AON were worth $3,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

• [By Lisa Levin] Companies Reporting Before The Bell Celgene Corporation (NASDAQ: CELG) is projected to report quarterly earnings at $1.96 per share on revenue of $3.46 billion. Aon plc (NYSE: AON) is expected to report quarterly earnings at $2.8 per share on revenue of $2.93 billion. American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) is estimated to report quarterly earnings at $0.81 per share on revenue of $1.75 billion. Alibaba Group Holding Limited (NYSE: BABA) is expected to report quarterly earnings at $0.88 per share on revenue of $9.27 billion. LifePoint Health, Inc. (NASDAQ: LPNT) is projected to report quarterly earnings at $1.13 per share on revenue of $1.62 billion. V.F. Corporation (NYSE: VFC) is estimated to report quarterly earnings at $0.65 per share on revenue of $2.90 billion. Newell Brands Inc. (NYSE: NWL) is expected to report quarterly earnings at $0.26 per share on revenue of $3.05 billion. Titan International, Inc. (NYSE: TWI) is projected to report quarterly earnings at $0.04 per share on revenue of $407.27 million. Boise Cascade Company (NYSE: BCC) is expected to report quarterly earnings at $0.45 per share on revenue of $1.09 billion. Cheniere Energy, Inc. (NYSE: LNG) is estimated to report quarterly earnings at $0.39 per share on revenue of $1.59 billion. Cboe Global Markets, Inc. (NASDAQ: CBOE) is projected to report quarterly earnings at $1.24 per share on revenue of $308.05 million. ITT Inc. (NYSE: ITT) is estimated to report quarterly earnings at $0.73 per share on revenue of $683.96 million. Fred's, Inc. (NASDAQ: FRED) is expected to report quarterly loss at $0.19 per share on revenue of $551.00 million. Virtu Financial, Inc. (NASDAQ: VIRT) is projected to report quarterly earnings at $0.52 per share on revenue of $288.31 million. Cheniere Energy Partners, L.P. (NYSE: CQP) is expected to report quarterly earnings at $0.57 per share on revenue of $1.38 billion. Genesis Energy, L.P
• [By Stephan Byrd]

  US Bancorp DE raised its stake in shares of Aon (NYSE:AON) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,448 shares of the financial services provider’s stock after acquiring an additional 1,178 shares during the quarter. US Bancorp DE’s holdings in AON were worth $5,676,000 as of its most recent filing with the SEC.

Hot Insurance Stocks To Watch For 2019: Principal Financial Group Inc(PFG)

Advisors' Opinion:

• [By Logan Wallace]

  Provident Financial plc (LON:PFG) has received a consensus recommendation of “Hold” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is GBX 1,244.33 ($16.57).

• [By Logan Wallace]

  ING Groep NV boosted its stake in Principal Financial Group Inc (NYSE:PFG) by 7.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,524 shares of the financial services provider’s stock after purchasing an additional 1,991 shares during the period. ING Groep NV’s holdings in Principal Financial Group were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

• [By Max Byerly]

  Shore Capital reissued their hold rating on shares of Provident Financial (LON:PFG) in a report issued on Thursday.

  PFG has been the subject of several other reports. Liberum Capital reissued a sell rating and set a GBX 483 ($6.48) price objective on shares of Provident Financial in a research note on Monday, February 26th. Peel Hunt reissued a hold rating and set a GBX 870 ($11.67) price objective on shares of Provident Financial in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price objective on Provident Financial from GBX 1,100 ($14.76) to GBX 750 ($10.06) and set a neutral rating for the company in a research note on Thursday, May 10th. Barclays reissued an underweight rating and set a GBX 584 ($7.84) price objective on shares of Provident Financial in a research note on Wednesday, January 31st. Finally, Societe Generale lowered Provident Financial to a hold rating and set a GBX 1,050 ($14.09) price objective for the company. in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Provident Financial presently has a consensus rating of Hold and a consensus price target of GBX 1,190.14 ($15.97).

• [By Logan Wallace]

  Get a free copy of the Zacks research report on Principal Financial Group (PFG)

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

• [By Shane Hupp]

  These are some of the news articles that may have impacted Accern’s scoring:

  Get Principal Financial Group alerts: Principal Financial Group (PFG) Approves New $300M Buyback (streetinsider.com) Principal Financial Group (PFG) Announces Share Repurchase Plan (americanbankingnews.com) Is Principal Large Cap Growth I Institutional (PLGIX) a Strong Mutual Fund Pick Right Now? (finance.yahoo.com) Principal Financial Group is Oversold (nasdaq.com) Principal Names New Chief Human Resources Officer (finance.yahoo.com)

  Several equities analysts have recently commented on PFG shares. Morgan Stanley decreased their target price on Principal Financial Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 5th. Wells Fargo reaffirmed a “market perform” rating and issued a $76.00 target price on shares of Principal Financial Group in a research report on Monday, January 8th. Credit Suisse Group started coverage on Principal Financial Group in a research report on Wednesday, April 25th. They issued a “neutral” rating and a $62.00 target price on the stock. Bank of America started coverage on Principal Financial Group in a research report on Monday, March 26th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, UBS started coverage on Principal Financial Group in a research report on Friday, March 2nd. They issued a “neutral” rating and a $69.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Principal Financial Group currently has an average rating of “Hold” and an average price target of $71.18.

Hot Insurance Stocks To Watch For 2019: Prudential Financial Inc.(PRU)

Advisors' Opinion:

• [By Zacks]

  Well, given the growing demand for securitized mortgage deals, Barclays plans to package and sell these Irish loans over the next two months. The group of investors that has shown interest in buying residential mortgage backed securities includes M&G Investments, the investment management division of British insurer Prudential Plc (NYSE: PRU) and Pacific Investment Management Co. ("PIMCO").

• [By Joseph Griffin]

  These are some of the headlines that may have effected Accern Sentiment Analysis’s analysis:

  Get Prudential Financial alerts: Prudential (PUK) Presents At 2018 Deutsche Bank Annual Global Financial Services Conference – Slideshow (seekingalpha.com) Leston Welsh joins Prudential Group Insurance as head of Disability and Absence Management (finance.yahoo.com) Contrasting Prudential Financial (PRU) & Old Mutual (ODMTY) (americanbankingnews.com) Prudential again accused with unauthorised money deduction (vir.com.vn) An Application for the Trademark ��MULLINTBG�� Has Been Filed by Prudential Insurance Company (insurancenewsnet.com)

  Prudential Financial traded down $5.05, hitting $94.97, during midday trading on Tuesday, MarketBeat Ratings reports. 2,919,216 shares of the company’s stock were exchanged, compared to its average volume of 2,144,103. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. The firm has a market cap of $42.01 billion, a PE ratio of 8.98, a P/E/G ratio of 0.97 and a beta of 1.52. Prudential Financial has a one year low of $94.51 and a one year high of $127.14.

• [By Ethan Ryder]

  State of Tennessee Treasury Department lessened its position in Prudential Financial Inc (NYSE:PRU) by 29.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 312,450 shares of the financial services provider’s stock after selling 132,238 shares during the period. State of Tennessee Treasury Department owned approximately 0.07% of Prudential Financial worth $32,354,000 at the end of the most recent reporting period.

• [By Shane Hupp]

  NN Investment Partners Holdings N.V. increased its holdings in Prudential Financial Inc (NYSE:PRU) by 0.1% during the 2nd quarter, Holdings Channel reports. The firm owned 2,197,076 shares of the financial services provider’s stock after buying an additional 2,780 shares during the period. Prudential Financial accounts for approximately 1.5% of NN Investment Partners Holdings N.V.’s portfolio, making the stock its 10th largest position. NN Investment Partners Holdings N.V.’s holdings in Prudential Financial were worth $205,450,000 at the end of the most recent reporting period.

• [By Stephan Byrd]

  Symphony Asset Management LLC lowered its position in Prudential Financial Inc (NYSE:PRU) by 18.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,149 shares of the financial services provider’s stock after selling 3,765 shares during the period. Symphony Asset Management LLC’s holdings in Prudential Financial were worth $1,672,000 as of its most recent SEC filing.

Forget Netflix, Cord-Cutters Love This One Company

Netflix is often seen as the face of the cord-cutting movement, a service where you can essentially stream what you want, when you want, for a reasonable monthly fee. With a massive content library that's about to get even larger as the company plans to spend $13 billion on new, original programming, Netflix is a cord-cutter's dream.

Yet while the streaming service has the content videophiles are looking for, a recent report on the website�Cord Cutters News says there's another company that's beloved every bit as much by people wanting to distance themselves from their cable TV company: Roku (NASDAQ:ROKU).

Image source: Getty Images.

Roku holds the clear lead

Results from the industry site's quarterly consumer survey show that when it comes to those looking beyond the cable box, Roku leads the pack. For the third straight year, a sampling of over 2,000 people who have cut the cord shows that more than 70% of them own a Roku device, whether it is one of its streaming devices or a Roku TV.

The significance of Roku's dominance is found in what it is going up against. Amazon.com's (NASDAQ:AMZN) Fire TV is the second most popular streaming device. But with just 35% of those surveyed saying they had one, that puts it far behind the leader. Similarly, just 24% of consumers had Apple's (NASDAQ:AAPL) Apple TV. The numbers of the survey don't sum to 100% because some consumers have more than one streaming device.�

The results are supported by TabloTV, which makes DVRs that allow consumers to record any over-the-air broadcast on any device. It tweeted in response to the survey by Cord Cutter News that Roku "also controls 70% of Tablo OTA DVRs!"

Taking full advantage

Roku is using its leadership position to further grow its business. Advertising is becoming one of the keys to its results, with platform revenue surpassing sales of its streaming players for the first time last quarter.

Some $70 billion is spent on television advertising each year, and Roku is anticipating it will grab a growing percentage of that, particularly after launching the advertiser-supported Roku Channel, which has quickly become one of the top 10 channels on Roku devices, based on hours streamed. Citing statistics from Nielsen, Roku says 10% of those 18 to 34 years old in the U.S. can only be reached through the Roku platform.

Beyond just video advertising, Roku display advertising is a growth channel, too. It added 6.6 million new accounts from last year -- a 1.5 million sequential increase -- giving it 21 million active user accounts, half of whom have cut the cord with cable or were never tethered to it in the first place. That suggests streaming apps will pay top dollar for landing on its home screen.

Indeed, Cord Cutter News finds that many services launch on Roku first before moving onto other devices. It points to apps from Sling TV and Philo as two examples of apps that made their splash on Roku first, though it also notes that some services surprisingly don't prioritize Roku's platform.

Many more plan to switch, too

Beyond just cord-cutters, though, investors should also take note of where this race is heading. The survey also found that when it comes to which device consumers were planning to purchase, they chose a Roku more than two-to-one over Amazon's Fire TV.�

Having combined simplicity and price with its early first-mover status, Roku has created an offering that is hard to beat. It also indicates why the service is smart not to abandon its hardware business as it develops the platform side to become its primary source of revenue.

This may not be an exact replica of a razor-and-blade business model, as Roku isn't quite giving away its hardware. But the service has found a way to cut through the noise in the cord-cutter market and land firmly in the forefront of the industry by using the hardware to push advertising.

The two-pronged approach ensures that Roku will be the market leader well into the future, and consumers seem thrilled with that outlook.

Top 10 High Tech Stocks To Buy Right Now

tags:RENX,LTRPA,AWI,SVA,MSBHY,HUM,CUBA,AMRK,AMSF,SJR,

Italian stocks reversed gains and fell Wednesday, denting a broader European equity benchmark, as European Central Bank officials indicated policy makers will begin to focus on ending the central bank��s bond-buying program.

How markets are performing

Italian stocks turned lower, pulling the FTSE MIB index I945, -0.68% �down 1.2% to 21,498.17. Italian bond prices also fell, pushing the country��s 2-year bond yield TMBMKIT-02Y, +22.35% �up by 40 basis points to 1.31%, according to Tradeweb. Yields rise when bond prices fall.

Top 10 High Tech Stocks To Buy Right Now: RELX N.V.(RENX)

Advisors' Opinion:

• [By Stephan Byrd]

  Get a free copy of the Zacks research report on Relx (RENX)

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

Top 10 High Tech Stocks To Buy Right Now: Liberty TripAdvisor Holdings, Inc.(LTRPA)

Advisors' Opinion:

• [By Lisa Levin] Gainers Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares jumped 31.6 percent to $12.18 following TripAdvisor Q1 earnings beat. ZAGG Inc (NASDAQ: ZAGG) rose 26.5 percent to $14.55 after the company posted better-than-expected Q1 earnings. OPKO Health, Inc. (NASDAQ: OPK) shares gained 25 percent to $4.0234 following Q1 beat. Axon Enterprise, Inc. (NASDAQ: AAXN) jumped 23.5 percent to $55.12 following a big Q1 beat. The company raised its fiscal 2018 sales growth guidance from 16-18 percent to 18-20 percent. Penn Virginia Corporation (NASDAQ: PVAC) gained 23.3 percent to $59.00 after reporting Q1 results. TripAdvisor, Inc. (NASDAQ: TRIP) rose 22.5 percent to $47.51 after the company reported stronger-than-expected results for its first quarter on Tuesday. Sears Holdings Corporation (NASDAQ: SHLD) shares surged 21.7 percent to $3.36. Amazon.com's partnership with Sears started in 2017 with an agreement to sell Kenmore-branded appliances online. On Wednesday, the companies announced an extension of their relationship to now include tire delivery and installations. EP Energy Corporation (NYSE: EPE) jumped 21.3 percent to $2.68 following Q1 results. LendingClub Corporation (NYSE: LC) surged 20.4 percent to $3.395 following better-than-expected Q1 earnings. Superior Industries International, Inc. (NYSE: SUP) gained 19 percent to $15.82 after reporting Q1 results. Bellicum Pharmaceuticals, Inc. (NASDAQ: BLCM) shares rose 18.5 percent to $8.13 following Q1 results. Twilio Inc. (NYSE: TWLO) rose 18.3 percent to $52.47 after the company posted strong quarterly results. Cerus Corporation (NASDAQ: CERS) shares jumped 18.3 percent to $6.47 following quarterly results. IEC Electronics Corp. (NYSE: IEC) shares climbed 17 percent to $4.68 after reporting better-than-expected quarterly earnings. New Relic, Inc. (NYSE: NEWR) rose 16.8 percent to $90.10 following Q4 results. Gulfport Energy Corporation (NASDAQ: GPOR)
• [By Max Byerly]

  Liberty Tripadvisor Holdings Inc Series A (NASDAQ:LTRPA) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 2,070,644 shares, an increase of 47.7% from the May 15th total of 1,402,097 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily trading volume, of 839,315 shares, the short-interest ratio is currently 2.5 days.

• [By Lisa Levin]

  Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares shot up 32 percent to $12.175 following TripAdvisor Q1 earnings beat.

  Shares of ZAGG Inc (NASDAQ: ZAGG) got a boost, shooting up 27 percent to $14.60 after the company posted better-than-expected Q1 earnings.

• [By Lisa Levin]

  Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares shot up 31 percent to $12.10 following TripAdvisor Q1 earnings beat.

  Shares of ZAGG Inc (NASDAQ: ZAGG) got a boost, shooting up 34 percent to $15.3628 after the company posted better-than-expected Q1 earnings.

• [By Lisa Levin]

  Liberty TripAdvisor Holdings, Inc. (NASDAQ: LTRPA) shares shot up 30 percent to $12.05 following TripAdvisor Q1 earnings beat.

  Shares of ZAGG Inc (NASDAQ: ZAGG) got a boost, shooting up 26 percent to $14.48 after the company posted better-than-expected Q1 earnings.

Top 10 High Tech Stocks To Buy Right Now: Armstrong World Industries Inc(AWI)

Advisors' Opinion:

• [By Ethan Ryder]

  AptarGroup (NYSE: ATR) and Armstrong World Industries (NYSE:AWI) are both mid-cap industrial products companies, but which is the better stock? We will contrast the two companies based on the strength of their valuation, risk, dividends, analyst recommendations, earnings, institutional ownership and profitability.

Top 10 High Tech Stocks To Buy Right Now: Sinovac Biotech Ltd.(SVA)

Advisors' Opinion:

• [By Joseph Griffin]

  News articles about Sinovac Biotech (NASDAQ:SVA) have been trending somewhat positive this week, Accern reports. The research firm identifies negative and positive news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sinovac Biotech earned a coverage optimism score of 0.12 on Accern’s scale. Accern also assigned media stories about the biopharmaceutical company an impact score of 45.8977999719642 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

Top 10 High Tech Stocks To Buy Right Now: Mitsubishi Corporation (MSBHY)

Advisors' Opinion:

• [By SEEKINGALPHA.COM]

  Japanese trading company Itochu (OTCPK:ITOCY) has a tough act to follow - its own meaningful improvement over the past five years. The company was more willing than most of its Japanese trading peers to deemphasize commodity/resource businesses, and it moved fairly quickly here, building up non-resource businesses like its food, ��machinery��, and finance operations. Those moves have led to better ROE and cash flow margin performance versus its peers, and Itochu shares have done well relative to peers like Mitsui (OTCPK:MITSY), Mitsubishi (OTCPK:MSBHY), Marubeni (OTCPK:MARUY), and Sumitomo (OTCPK:SSUMY) over that time.

• [By SEEKINGALPHA.COM]

  Automotive is moving well, up 14% y/y driven by HD Radio tech. The latter is included in an A list of important models, including Tesla Model 3, the Mitsubishi (OTCPK:MSBHY) Mirage and the Nissan (OTCPK:NSANY) Rogue. Their connected radio solution is also coming along nicely.

Top 10 High Tech Stocks To Buy Right Now: Humana Inc.(HUM)

Advisors' Opinion:

• [By Keith Speights]

  A low EV-to-EBITDA measurement is a pretty good indicator that a stock is relatively cheap. And there are three healthcare stocks that are undeniably dirt cheap right now based on the metric: United Therapeutics (NASDAQ:UTHR), Gilead Sciences (NASDAQ:GILD), and Humana (NYSE:HUM). But are these cheap stocks smart picks to buy?

• [By Logan Wallace]

  Hudson Capital Management LLC lifted its position in Humana Inc (NYSE:HUM) by 79.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,697 shares of the insurance provider’s stock after purchasing an additional 1,197 shares during the quarter. Hudson Capital Management LLC’s holdings in Humana were worth $803,000 at the end of the most recent quarter.

• [By Joseph Griffin]

  Hummingbird Resources (LON:HUM)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a research report issued on Wednesday. They presently have a GBX 50 ($0.67) target price on the stock. Canaccord Genuity’s price target points to a potential upside of 56.25% from the stock’s previous close.

• [By Max Byerly]

  Traders purchased shares of Humana Inc (NYSE:HUM) on weakness during trading on Tuesday following insider selling activity. $42.85 million flowed into the stock on the tick-up and $19.24 million flowed out of the stock on the tick-down, for a money net flow of $23.61 million into the stock. Of all equities tracked, Humana had the 32nd highest net in-flow for the day. Humana traded down ($0.20) for the day and closed at $293.94Specifically, CEO Bruce D. Broussard sold 17,604 shares of Humana stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $286.17, for a total transaction of $5,037,736.68. Following the transaction, the chief executive officer now directly owns 89,259 shares in the company, valued at approximately $25,543,248.03. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider William Kevin Fleming sold 15,637 shares of Humana stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $293.08, for a total transaction of $4,582,891.96. Following the transaction, the insider now owns 15,650 shares in the company, valued at $4,586,702. The disclosure for this sale can be found here. Insiders sold 55,058 shares of company stock worth $15,843,075 in the last ninety days. 0.60% of the stock is owned by corporate insiders.

Top 10 High Tech Stocks To Buy Right Now: The Herzfeld Caribbean Basin Fund, Inc.(CUBA)

Advisors' Opinion:

• [By Stephan Byrd]

  Media headlines about Herzfeld Caribbean Basin Fund, Inc. common stock (NASDAQ:CUBA) have been trending somewhat positive on Saturday, according to Accern Sentiment Analysis. The research firm rates the sentiment of news coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Herzfeld Caribbean Basin Fund, Inc. common stock earned a news sentiment score of 0.00 on Accern’s scale. Accern also gave news stories about the investment management company an impact score of 48.5554072096128 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Top 10 High Tech Stocks To Buy Right Now: A-Mark Precious Metals, Inc.(AMRK)

Advisors' Opinion:

• [By Lisa Levin]

   

  Companies Reporting After The Bell Marriott International, Inc. (NASDAQ: MAR) is projected to post quarterly earnings at $1.22 per share on revenue of $5.72 billion. Electronic Arts Inc. (NASDAQ: EA) is estimated to post quarterly earnings at $1.04 per share on revenue of $5.68 billion. The Walt Disney Company (NYSE: DIS) is projected to post quarterly earnings at $1.68 per share on revenue of $14.05 billion. Papa John's International, Inc. (NASDAQ: PZZA) is expected to post quarterly earnings at $0.62 per share on revenue of $441.73 million. Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is projected to post quarterly earnings at $2.77 per share on revenue of $434.87 million. Sun Life Financial Inc. (NYSE: SLF) is estimated to post quarterly earnings at $0.89 per share on revenue of $6.38 billion. LATAM Airlines Group S.A. (NYSE: LTM) is expected to post quarterly earnings at $0.16 per share on revenue of $2.70 billion. Liberty Global plc (NASDAQ: LBTYA) is projected to post quarterly earnings at $0.02 per share on revenue of $4.05 billion. TripAdvisor, Inc. (NASDAQ: TRIP) is expected to post quarterly earnings at $0.16 per share on revenue of $362.11 million. The Wendy's Company (NASDAQ: WEN) is projected to post quarterly earnings at $0.1 per share on revenue of $379.98 million. A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is expected to post quarterly earnings at $0.06 per share on revenue of $1.69 billion. Monster Beverage Corporation (NASDAQ: MNST) is estimated to post quarterly earnings at $0.4 per share on revenue of $849.38 million. Convergys Corporation (NYSE: CVG) is expected to post quarterly earnings at $0.4 per share on revenue of $670.10 million. ScanSource, Inc. (NASDAQ: SCSC) is projected to post quarterly earnings at $0.7 per share on revenue of $875.91 million. KAR Auction Services, Inc. (NYSE: KAR) is expected to post quarterly earnings at $0.76 per share on revenue of $923.13

Top 10 High Tech Stocks To Buy Right Now: AMERISAFE, Inc.(AMSF)

Advisors' Opinion:

• [By Shane Hupp]

  Amerisafe, Inc. (NASDAQ:AMSF) EVP Vincent J. Gagliano sold 249 shares of Amerisafe stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $60.15, for a total value of $14,977.35. Following the transaction, the executive vice president now owns 17,178 shares of the company’s stock, valued at $1,033,256.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

• [By Ethan Ryder]

  BidaskClub lowered shares of AMERISAFE (NASDAQ:AMSF) from a hold rating to a sell rating in a report released on Friday.

  Other research analysts have also issued reports about the stock. TheStreet raised shares of AMERISAFE from a c+ rating to a b rating in a report on Thursday, April 26th. ValuEngine raised shares of AMERISAFE from a hold rating to a buy rating in a report on Thursday, March 1st. Boenning Scattergood reaffirmed a hold rating on shares of AMERISAFE in a report on Tuesday, February 27th. Keefe, Bruyette & Woods initiated coverage on shares of AMERISAFE in a report on Thursday, April 5th. They issued a market perform rating and a $54.00 price target for the company. Finally, Zacks Investment Research lowered shares of AMERISAFE from a hold rating to a strong sell rating in a report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. AMERISAFE currently has a consensus rating of Hold and a consensus target price of $63.00.

• [By Max Byerly]

  ILLEGAL ACTIVITY NOTICE: “$0.73 Earnings Per Share Expected for Amerisafe, Inc. (AMSF) This Quarter” was first posted by Ticker Report and is the property of of Ticker Report. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3362844/0-73-earnings-per-share-expected-for-amerisafe-inc-amsf-this-quarter.html.

• [By Logan Wallace]

  Headlines about Amerisafe (NASDAQ:AMSF) have been trending somewhat positive on Monday, Accern reports. Accern identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Amerisafe earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave news coverage about the insurance provider an impact score of 46.1502674511953 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

Top 10 High Tech Stocks To Buy Right Now: Shaw Communications Inc.(SJR)

Advisors' Opinion:

• [By Logan Wallace]

  Get a free copy of the Zacks research report on Shaw Communications Inc Class B (SJR)

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

• [By Shane Hupp]

  Get a free copy of the Zacks research report on Shaw Communications (SJR)

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

• [By Joseph Griffin]

  ITV PLC/ADR (OTCMKTS: ITVPY) and Shaw Communications Inc Class B (NYSE:SJR) are both mid-cap consumer discretionary companies, but which is the superior investment? We will compare the two businesses based on the strength of their earnings, risk, dividends, analyst recommendations, profitability, institutional ownership and valuation.

eClerx Q1 PAT seen up 7.2% QoQ to Rs. 69 cr: HDFC Securities

HDFC Securities has come out with its first quarter (April-June�� 18) earnings estimates for the Technology sector. The brokerage house expects eClerx to report net profit at Rs. 69 crore up 7.2% quarter-on-quarter (down 13.3% year-on-year).

Net Sales are expected to increase by 4 percent Q-o-Q (up 12.7 percent Y-o-Y) to Rs. 375 crore, according to HDFC Securities.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 15.9 percent Q-o-Q (down 7 percent Y-o-Y) to Rs. 93 crore.

Disclaimer: The views and investment tips expressed by investment experts 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 Jul 12, 2018 05:32 pm

Somewhat Positive News Coverage Somewhat Unlikely to Affect CIT Group (CIT) Share Price

Media coverage about CIT Group (NYSE:CIT) has been trending somewhat positive recently, according to Accern Sentiment Analysis. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. CIT Group earned a media sentiment score of 0.23 on Accern’s scale. Accern also gave media stories about the financial services provider an impact score of 46.9120255452128 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

Here are some of the news articles that may have effected Accern’s analysis:

Get CIT Group alerts: We��re winning the war on CIT heists, say police (citizen.co.za) Oppenheimer Equities Analysts Reduce Earnings Estimates for CIT Group (CIT) (americanbankingnews.com) Did Grandview police use their crisis training before fatally shooting man with sword? (kansascity.com) CIT Group (CIT) Given Consensus Recommendation of “Hold” by Brokerages (americanbankingnews.com) CIT Adds New Executive to Communications & Technology Finance Team (abladvisor.com)

Shares of CIT Group traded up $0.66, reaching $51.56, during midday trading on Friday, according to Marketbeat.com. The stock had a trading volume of 37,528 shares, compared to its average volume of 1,228,943. CIT Group has a one year low of $43.25 and a one year high of $56.14. The company has a market cap of $6.42 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.28. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.09.

CIT Group (NYSE:CIT) last announced its quarterly earnings data on Tuesday, April 24th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.22). CIT Group had a net margin of 11.93% and a return on equity of 7.76%. The firm had revenue of $495.00 million during the quarter, compared to the consensus estimate of $481.00 million. During the same period last year, the business earned $0.54 EPS. analysts expect that CIT Group will post 3.99 earnings per share for the current year.

A number of research analysts recently weighed in on CIT shares. TheStreet raised shares of CIT Group from a “c+” rating to a “b-” rating in a research report on Tuesday, March 20th. UBS Group started coverage on shares of CIT Group in a research report on Tuesday, March 27th. They issued a “neutral” rating and a $56.00 target price for the company. BTIG Research reaffirmed a “buy” rating and issued a $57.00 target price on shares of CIT Group in a research report on Wednesday, April 18th. BMO Capital Markets decreased their target price on shares of CIT Group from $49.00 to $46.00 and set a “market perform” rating for the company in a research report on Wednesday, April 25th. Finally, ValuEngine downgraded shares of CIT Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $54.59.

In related news, Director Sheila A. Stamps sold 3,350 shares of CIT Group stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $52.12, for a total transaction of $174,602.00. Following the completion of the sale, the director now owns 4,666 shares of the company’s stock, valued at approximately $243,191.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward K. Sperling sold 1,765 shares of CIT Group stock in a transaction dated Thursday, June 14th. The stock was sold at an average price of $51.44, for a total transaction of $90,791.60. Following the sale, the executive vice president now directly owns 10,491 shares of the company’s stock, valued at approximately $539,657.04. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

About CIT Group

CIT Group Inc operates as the bank holding company for CIT Bank, National Association that provides banking and related services to commercial and individual customers. The company operates through three segments: Commercial Banking, Consumer Banking, and Non-Strategic Portfolios (NSP). The Commercial Banking segment offers lending, leasing, and other financial and advisory services primarily to small and middle-market companies; factoring, receivables management products, and secured supply chain financing; and equipment leasing and secured financing to railroads and non-rail companies.

TrustCo Bank Corp NY (TRST) Earns News Impact Rating of 0.04

News stories about TrustCo Bank Corp NY (NASDAQ:TRST) have been trending somewhat positive on Thursday, according to Accern. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. TrustCo Bank Corp NY earned a daily sentiment score of 0.04 on Accern’s scale. Accern also assigned media coverage about the bank an impact score of 46.6531820330117 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

TRST stock traded up $0.10 during trading hours on Thursday, hitting $9.05. The company’s stock had a trading volume of 321,647 shares, compared to its average volume of 361,754. The company has a market capitalization of $863.04 million, a price-to-earnings ratio of 16.57 and a beta of 1.04. TrustCo Bank Corp NY has a 12 month low of $7.51 and a 12 month high of $9.70.

Get TrustCo Bank Corp NY alerts:

TrustCo Bank Corp NY (NASDAQ:TRST) last posted its earnings results on Monday, April 23rd. The bank reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The business had revenue of $43.99 million during the quarter. TrustCo Bank Corp NY had a return on equity of 11.44% and a net margin of 24.77%. During the same period last year, the company earned $0.11 earnings per share.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Friday, June 1st were given a $0.0656 dividend. This represents a $0.26 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Thursday, May 31st.

Several research firms have weighed in on TRST. BidaskClub lowered shares of TrustCo Bank Corp NY from a “buy” rating to a “hold” rating in a research note on Friday, April 20th. Sandler O’Neill set a $9.00 price objective on shares of TrustCo Bank Corp NY and gave the company a “hold” rating in a research note on Monday, March 26th.

In other TrustCo Bank Corp NY news, Director William D. Powers sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The shares were sold at an average price of $8.65, for a total value of $173,000.00. Following the completion of the sale, the director now directly owns 65,651 shares of the company’s stock, valued at $567,881.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.

TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp NY operates as the holding company for Trustco Bank that provides personal and business banking services to individuals, partnerships, and corporations. The company is primarily involved in accepting deposits, and making loans and investments. It also operates as a real estate investment trust that acquires, holds, and manages real estate mortgage assets, including residential mortgage loans and mortgage backed securities.

RIL JioGigaFiber Effect: DEN Networks, Hathway Cable fall 6-8%, hits fresh 52-week low

Shares of cable TV service providers Den Networks and Hathway Cable continues to fall today as well after Reliance Industries launched ultra high speed fixed� line broadband services for homes and enterprises on Thursday.

Shares of Den Networks has tanked over 6 percent intrady on Friday thereby hitting a new 52-week low. Hathway Cable & Datacom is down as well close to 8 percent and has hit fresh 52-week low today as well. On the other hand, Siti Networks shares lost as much as 3 percent which had hit fresh 52-week low yesterday.

The fall in shares is due to likely impact of this new fiber broadband service on existing cable TV service providers' customer base.

Mukesh Ambani, CMD, Reliance Industries at the 41st Annual General Meeting said it has launched its ultra high speed fixed line broadband services for homes and enterprises under the brand 'JioGigaFiber'. "Fiber will redefine 24/7 emergency help for all homes across India and Jio will offer the most competitive broadband connection."

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The company launched 'Jio Giga' Router & 'Jio Giga TV' set-top box, which enabled the voice command feature on the TV as well which weighed on shares of Cable TV companies such as Hathway Cable, Den Networks as well as Siti Network.

At 11:10 hrs Den Networks was quoting at Rs 63.20, down Rs 3.35, or 5.03 percent. It has touched a 52-week low of Rs 62.20.

Hathway Cable and Datacom was quoting at Rs 18.90, down Rs 1.70, or 8.25 percent. It has touched a 52-week low of Rs 18.55.

Siti Networks was quoting at Rs 12.79, down Rs 0.58, or 4.34 percent. It has touched an intraday high of Rs 12.84 and an intraday low of Rs 12.66.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. First Published on Jul 6, 2018 11:18 am

Dollar mostly weaker ahead of Fed minutes, June jobs report

The U.S. dollar was softer across the board Thursday as investors awaited minutes of the Federal Reserve��s last policy meeting in the afternoon and looked ahead to Friday��s June jobs report while also weighing trade-war fears.

News reports that the U.S. had proposed zero tariffs on auto imports and exports between the U.S. and the European Union sparked gains for equities and other assets viewed as risky, allowing the buck to recover ground versus the Japanese yen, which is traditionally viewed as a haven, while serving to lift the euro, analysts said.

The dollar held on to a small advance versus the yen but remained weaker versus most major rivals after Automatic Data Processing Inc. reported that employers added 177,000 private-sector jobs in June. The data is watched for clues to official employment data, though it��s record as a predictor is viewed as shaky. Separately, the Labor Department said first-time jobless claims hit a six-week high, but layoffs remain near a multidecade low.

Moreover, investors have started to pay closer attention to wage data in the official jobs report, as they search for signs of accelerating pay raises that could feed inflation and persuade the Fed to raise rates more aggressively than anticipated.

While no deal has been announced, both sides want to avoid a full-scale trade war that could dent the global economic recovery, said Boris Schlossberg, managing director of FX strategy at BK Asset Management, in a note.

That said, ��the specter of trade war�� still hangs over the market, he said, noting that tariffs on $34 billion worth of Chinese goods are due to take effect on Friday, leaving investors to anticipate how Beijing will retaliate. That could end up overshadowing any good news from Friday��s jobs data.

Overall, trading is expected to remain relatively muted as some U.S. investors extend the midweek Fourth of July break. U.S. markets were closed Wednesday for Independence Day.

The ICE U.S. Dollar index DXY, -0.22% �was down 0.5% at 94.229. Despite Thursday��s struggles, it remains up 2.3% so far this year.

The euro EURUSD, +0.3603% last bought $1.1712, versus $1.1657 late in the previous session.

Industrial orders in Germany, the largest economy in Europe��s trading block, came in stronger than expected in May to support expectations of an economic upturn. The reported showed a 2.6% rise in orders.

Read: European stocks drive higher, as tariff hopes rev up car makers

Read: How will investors know if there is a full-blown trade war? Here��s what Wall Street says

One dollar last bought 6.6423 of the more freely traded offshore yuan USDCNH, +0.1596% little changed for the day, and 6.6339 of the more restricted onshore yuan USDCNY, +0.1025% up less than 0.1%.

Read: Just because the economy is booming doesn��t mean that all is well

Also on the calendar, the final Markit services purchasing managers index for June is expected at 9:45 a.m. Eastern, while the Institute for Supply Management��s nonmanufacturing index for the same month is due at 10 a.m.

An extended summary of the Federal Open Market Committee��s June meeting will be issued at 2 p.m. Eastern. Investors will be watching for commentary on disputes over trade and if any alarm on the Fed��s part could put rate increases on hold. The interest-rate differential that sets the U.S. above its industrial counterparts has been a major driver of dollar gains this year.

Can merger of group companies unlock value for Lux Industries' shareholders?

Lux Industries is one of India��s major innerwear-cum-leisurewear brands for men. Its product portfolio spans three categories��� mass, mid-premium, and premium. With 6 active brands in its kitty, product premiumisation on the agenda, network augmentation on the cards, and robust fundamentals to back its plans, the company��s prospects are promising.

Recently, Lux announced an organisational rejig, wherein two entities (JM Hosiery�& Company, Ebell Fashions Pvt Ltd) of the promoters�� group will be merged into Lux. 48 lakh equity shares in Lux will be issued to shareholders of the 2 companies, cumulatively valuing them at Rs 861 crore. However, as per SEBI rules, post-merger, promoters�� shareholding will be eventually reduced to 75 percent.

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JM Hosiery�& Company (JMHC) and Ebell Fashions Pvt Ltd (EFPL) are engaged in the business of manufacturing, marketing, sale and distribution of knitted apparel. While the former covers products made of hosiery (garments worn on the feet and legs), too, the latter deals in products only for women.

How does Lux benefit?

New brands: By virtue of the organisational rearrangement, 3 new brands will come under Lux��s already robust gamut of brands. These include Lux Karishma, Lux Touch and GenX. While the former 2 will help the company tap the fast-growing and evolving women��s leisurewear market in India, the latter, being a premium men��s innerwear brand, will fetch higher realisations per unit.

Risk mitigation: Historically, Lux��s products have been predominantly male-oriented since the market for the same has always been large in India. This, in turn, limits incremental growth. The amalgamation will, therefore, enable Lux to gradually increase the contribution of womenswear products to its annual revenues in due course.

Operational synergies: Though Lux��s future advertisement spends are likely to be brand-specific, marketing campaigns undertaken by the company will enhance the visibility of its entire basket of brands. Furthermore, the existing distribution channels and points of sale can be leveraged optimally to explore cross-selling opportunities.

Should you invest?

The deal should help Lux consolidate its strengths, introduce a new set of products (and/or variants of existing ones), achieve brand differentiation, and integrate business models of JHMC and EFPL with its own fairly easily. Besides bolstering Lux��s consolidated revenues, the reorganisation will curtail overhead costs since no additional capex would be necessary. This may lead to margin expansion.

Nevertheless, in the near-term, the move is expected to be earnings-dilutive, albeit marginally, on account of additional shares that would be issued to shareholders of JMHC and EFPL (ie Lux��s promoters). Secondly, declining brand loyalty attributable to intensifying competition from domestic/foreign brands remains a major risk.

Lux has managed to counter the sharp corrections lately observed in the midcaps space, apparent from a decline of only 7.5 percent from its 52-week high. At 43.3 times FY20 projected earnings, the stock leaves little upside scope for investors seeking an entry opportunity at current levels. Therefore, we recommend buying on weakness.

Follow @krishnakarwa152

For more research articles, visit our�Moneycontrol Research page First Published on Jul 4, 2018 05:18 pm