Fitbit Posts More Awful Results

Smartwatch maker Fitbit Inc. (NYSE: FIT) posted another terrible quarter and, once again, asked investors to look toward the future for a turnaround. The numbers were just better than expectations, so the stock inched up, but not enough to be noticeable. Shares are still down nearly 60% in the past two years.

Fitbit’s revenue dropped again, down from $353 million in the June quarter of last year to $299 million in the most recent one. The company had a net loss of $54 million, compared to $19 million a year ago. Fitbit sold 3.4 million devices in the second quarter last year. That dropped to 2.7 million.

Fitbit management promoted several pieces of what it called good news. Among these were that six devices introduced in the past year represented 59% of revenue. That means older products lost their appeal and created only a small foundation for future sales. Fitbit management also said its products outsold Samsung, Fossil and Garmin smartwatches in the second quarter within North America. It is a comparison that lacks solid numbers and context.

To make matters worse, Fitbit management said it expected another revenue decline in the third quarter, albeit only 3%.

As part of the announcement, James Park, co-founder and CEO, said:

Our performance in Q2 represents the sixth consecutive quarter that we have delivered on our financial commitments, made important progress in transforming our business, and continued to adapt to the changing wearables market. Demand for Versa, our first ��mass-appeal�� smartwatch, is very strong. Within the second quarter, Versa outsold Samsung, Garmin and Fossil smartwatches combined in North America, improving our position with retailers, solidifying shelf space for the Fitbit brand and providing a halo effect to our other product offerings.

These financial commitments have been so weak that few investors would want them. Park will have to do much better.

Shares of Fitbit traded down about 5% early Thursday to $5.62, with a consensus analyst price target of $6.10 and a 52-week trading range of $4.51 to $7.79.

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Why Energy MLPs May Be the Buy of the Decade Now

Boeing Extends Its 2018 Order Lead at the Farnborough Airshow

Airbus (NASDAQOTH:EADSY) has captured more firm orders than Boeing (NYSE:BA) in each of the past five years. This allowed Airbus to extend its backlog to more than 7,000 firm orders by the end of 2017, compared with fewer than 6,000 firm orders for Boeing. (A decade ago, the two were evenly matched.)

However, Boeing has started to mount a comeback in 2018. During the first half of the year, it booked 460 net firm orders, compared with just 206 for Airbus. The U.S. aerospace giant appears to have extended its advantage in the annual order race at the recent Farnborough Airshow.

Lots of commitments but few firm orders for Airbus

Airbus had a solid showing last week, but most of the deals it announced were commitments that still need to be finalized, rather than firm orders. These commitments are often firmed up within a few months, but sometimes they just disappear.

In total, Airbus said that it received 93 firm orders and 338 additional commitments at the air show. Most of the firm orders were smaller deals. The most important by far was an order for 34 additional A330neos from AirAsia X. That brings AirAsia X's A330neo backlog to 100 aircraft. More importantly, it ensures that the carrier won't defect to Boeing's 787 Dreamliner.

Airbus was able to prevent AirAsia X from defecting to Boeing's 787 Dreamliner. Image source: Airbus.

Meanwhile, major commitments announced last week included a deal for 80 A320neos with an undisclosed aircraft leasing company, a commitment for an additional 75 A320neos and 25 A321neos from an existing customer, and a commitment from airline industry veteran David Neeleman's U.S. airline start-up for 60 A220-300s.

Including a firm order for 60 A220-300s placed by JetBlue a week before the air show, Airbus has now captured more than 750 firm orders and commitments year to date. A little more than half are commitments, but 2018 is shaping up to be another good year for Airbus, as long as it can convert most of those commitments to firm orders by year's end.

Solid order intake for Boeing -- despite some funny counting

Boeing reported an even stronger order haul at the Farnborough Airshow, with a total of 673 firm orders and commitments. However, it exaggerated its performance with some dubious counting methodology.

For example, Boeing announced a firm order from Jet Airways for 75 additional 737 MAXes -- but it had already added this order to its backlog last month. It used the same trick in reporting some of its 14 777F orders and commitments from DHL. Meanwhile, Boeing appears to have counted an order for 30 737 MAX 10s from GOL that was actually a conversion of existing 737 MAX 8 orders.

Boeing counted some deals in its air show order total that it had booked previously. Image source: Boeing.

That said, even without fudging the numbers, Boeing captured more than 500 new firm orders and commitments last week. Notable deals included a commitment for an extra 100 737 MAXes from VietJet, a commitment from an undisclosed customer for 100 additional 737 MAXes, and a 78-aircraft deal with Air Lease, consisting of a firm order for three 787s and 20 737 MAXes, plus a commitment for another 55 737 MAX aircraft.

If Boeing can make progress on finalizing some of its outstanding commitments by year's end, it will have a good shot at surpassing 1,000 net firm orders in 2018. It hasn't broken the 1,000-order mark since 2014.

Raising production is now key

As usual, the A320neo and 737 MAX families accounted for the vast majority of the orders and commitments announced over the past week. The backlogs for these popular models continue to swell, despite efforts by both Airbus and Boeing to ramp up production.

By the end of next year, Airbus hopes to be building 63 A320-family aircraft per month, while Boeing plans a monthly 737 production rate of 57. Both aircraft manufacturers recognize that they risk losing orders unless they can increase output even further. However, some of their suppliers -- particularly engine makers -- are struggling just to meet their existing production targets.

It's a great sign that demand for Airbus and Boeing narrowbodies is still red-hot among airlines and leasing companies. But unless the two aerospace giants can satisfy that demand in a timely fashion by raising production further, the annual order race will remain a somewhat meaningless contest.

Osborne Partners Capital Management Buys DowDuPont Inc, AT&T Inc, Broadcom Inc, Sells Invesco FTSE R

San Francisco, CA, based Investment company Osborne Partners Capital Management buys DowDuPont Inc, AT&T Inc, Broadcom Inc, CVS Health Corp, Evergy Inc, FMC Corp, Tiffany, Vanguard S&P 500, Uranium Energy Corp, Vanguard Small-Cap, sells Invesco FTSE RAFI US 1000, Time Warner Inc, Invesco DWA Momentum ETF, LyondellBasell Industries NV, Lowe's Inc during the 3-months ended 2018-06-30, according to the most recent filings of the investment company, Osborne Partners Capital Management. As of 2018-06-30, Osborne Partners Capital Management owns 147 stocks with a total value of $677 million. These are the details of the buys and sells.

New Purchases: DWDP, EVRG, TIF, UEC, Added Positions: T, AVGO, CVS, JNJ, FMC, LNG, EXPE, VIG, VOO, VTI, Reduced Positions: LYB, LOW, QCOM, JPM, TMO, SHPG, AAPL, MSFT, PEP, SLB, Sold Out: PRF, TWX, PDP, MON, GXP, PBE, PGF, AEP, IWM, XLK,

For the details of OSBORNE PARTNERS CAPITAL MANAGEMENT's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=OSBORNE+PARTNERS+CAPITAL+MANAGEMENT

These are the top 5 holdings of OSBORNE PARTNERS CAPITAL MANAGEMENTSPDR S&P 500 (SPY) - 129,054 shares, 5.17% of the total portfolio. Shares added by 0.13%Microsoft Corp (MSFT) - 334,964 shares, 4.88% of the total portfolio. Shares reduced by 1.92%Apple Inc (AAPL) - 120,154 shares, 3.29% of the total portfolio. Shares reduced by 3.08%JPMorgan Chase & Co (JPM) - 207,491 shares, 3.19% of the total portfolio. Shares reduced by 4.58%Danaher Corp (DHR) - 179,744 shares, 2.62% of the total portfolio. Shares reduced by 2.19%New Purchase: DowDuPont Inc (DWDP)

Osborne Partners Capital Management initiated holding in DowDuPont Inc. The purchase prices were between $62.04 and $70.04, with an estimated average price of $66.14. The stock is now traded at around $65.68. The impact to a portfolio due to this purchase was 0.72%. The holding were 74,040 shares as of 2018-06-30.

New Purchase: Evergy Inc (EVRG)

Osborne Partners Capital Management initiated holding in Evergy Inc. The purchase prices were between $50.65 and $57.04, with an estimated average price of $53.33. The stock is now traded at around $56.38. The impact to a portfolio due to this purchase was 0.12%. The holding were 14,683 shares as of 2018-06-30.

New Purchase: Tiffany & Co (TIF)

Osborne Partners Capital Management initiated holding in Tiffany & Co. The purchase prices were between $94.2 and $137.89, with an estimated average price of $113.91. The stock is now traded at around $136.14. The impact to a portfolio due to this purchase was 0.04%. The holding were 2,045 shares as of 2018-06-30.

New Purchase: Uranium Energy Corp (UEC)

Osborne Partners Capital Management initiated holding in Uranium Energy Corp. The purchase prices were between $1.28 and $1.79, with an estimated average price of $1.59. The stock is now traded at around $1.57. The impact to a portfolio due to this purchase was 0.01%. The holding were 57,470 shares as of 2018-06-30.

Added: AT&T Inc (T)

Osborne Partners Capital Management added to a holding in AT&T Inc by 292.35%. The purchase prices were between $31.4 and $36.14, with an estimated average price of $33.25. The stock is now traded at around $31.47. The impact to a portfolio due to this purchase was 0.64%. The holding were 182,243 shares as of 2018-06-30.

Added: CVS Health Corp (CVS)

Osborne Partners Capital Management added to a holding in CVS Health Corp by 28.96%. The purchase prices were between $60.71 and $72.18, with an estimated average price of $65.94. The stock is now traded at around $66.51. The impact to a portfolio due to this purchase was 0.25%. The holding were 119,307 shares as of 2018-06-30.

Added: Broadcom Inc (AVGO)

Osborne Partners Capital Management added to a holding in Broadcom Inc by 26.98%. The purchase prices were between $225.25 and $270.23, with an estimated average price of $245.06. The stock is now traded at around $209.55. The impact to a portfolio due to this purchase was 0.25%. The holding were 32,546 shares as of 2018-06-30.

Added: FMC Corp (FMC)

Osborne Partners Capital Management added to a holding in FMC Corp by 25.56%. The purchase prices were between $74.99 and $92.4, with an estimated average price of $85.54. The stock is now traded at around $86.26. The impact to a portfolio due to this purchase was 0.11%. The holding were 42,791 shares as of 2018-06-30.

Added: Vanguard S&P 500 (VOO)

Osborne Partners Capital Management added to a holding in Vanguard S&P 500 by 64.45%. The purchase prices were between $236.48 and $256.33, with an estimated average price of $248.26. The stock is now traded at around $257.28. The impact to a portfolio due to this purchase was 0.04%. The holding were 2,641 shares as of 2018-06-30.

Added: Vanguard Small-Cap (VB)

Osborne Partners Capital Management added to a holding in Vanguard Small-Cap by 27.68%. The purchase prices were between $143.38 and $160.91, with an estimated average price of $153.01. The stock is now traded at around $160.96. The impact to a portfolio due to this purchase was 0.01%. The holding were 2,818 shares as of 2018-06-30.

Sold Out: Invesco FTSE RAFI US 1000 (PRF)

Osborne Partners Capital Management sold out a holding in Invesco FTSE RAFI US 1000. The sale prices were between $107.92 and $116.01, with an estimated average price of $112.71.

Sold Out: Time Warner Inc (TWX)

Osborne Partners Capital Management sold out a holding in Time Warner Inc. The sale prices were between $92.18 and $98.77, with an estimated average price of $95.01.

Sold Out: Invesco DWA Momentum ETF (PDP)

Osborne Partners Capital Management sold out a holding in Invesco DWA Momentum ETF. The sale prices were between $51.25 and $57.65, with an estimated average price of $54.76.

Sold Out: Monsanto Co (MON)

Osborne Partners Capital Management sold out a holding in Monsanto Co. The sale prices were between $116.6 and $127.95, with an estimated average price of $124.68.

Sold Out: Great Plains Energy Inc (GXP)

Osborne Partners Capital Management sold out a holding in Great Plains Energy Inc. The sale prices were between $30.5 and $34.1, with an estimated average price of $32.03.

Sold Out: Invesco Dynamic Biotech & Genome (PBE)

Osborne Partners Capital Management sold out a holding in Invesco Dynamic Biotech & Genome. The sale prices were between $46.88 and $56.15, with an estimated average price of $50.84.

Here is the complete portfolio of OSBORNE PARTNERS CAPITAL MANAGEMENT. Also check out:

1. OSBORNE PARTNERS CAPITAL MANAGEMENT's Undervalued Stocks
2. OSBORNE PARTNERS CAPITAL MANAGEMENT's Top Growth Companies, and
3. OSBORNE PARTNERS CAPITAL MANAGEMENT's High Yield stocks
4. Stocks that OSBORNE PARTNERS CAPITAL MANAGEMENT keeps buying

These MLPs Are on Fire Today

What happened

Shares of several master limited partnerships (MLPs) took off on Thursday after the Federal Energy Regulatory Commission (FERC)� finalized a new policy relating to the tax code overhaul passed at the end of 2017. Leading the way higher were TC Pipelines (NYSE:TCP) and Dominion Energy Midstream Partners (NYSE:DM), which were up 28% and 30%, respectively at 9:45 a.m. EDT. Fellow midstream majors Enbridge Energy Partners (NYSE:EEP) and Spectra Energy Partners (NYSE:SEP) were also up on the news, with shares of both rising more than 6% in early morning trading.

So what

In March, FERC dropped a bombshell on MLP investors by reversing a long-standing policy that had allowed these entities to collect an additional fee to cover income taxes as part of their cost-of-service rates on long-haul pipelines. This rule change weighed heavily on MLPs that were majority-owned by other energy companies, since they used this rate structure to cover the taxes they would pay on the income received from their MLPs. Among the hardest hit were Dominion Energy Midstream Partners -- owned by utility Dominion Energy (NYSE:D) -- and TC Pipelines, controlled by Canadian pipeline giant TransCanada (NYSE:TRP). Meanwhile, Enbridge Energy Partners and Spectra Energy Partners, which are both sponsored by Canadian pipeline giant Enbridge (NYSE:ENB), also sold off on that early-spring news, which subsequently led Enbridge to offer to acquire its MLPs.

Image source: Getty Images.

However, on Wednesday night, the regulator finalized a new policy on gas pipelines. Under the final ruling, FERC provides operators of interstate natural gas pipelines with options to address the revenue changes that resulted from the elimination of the tax allowance, which could lead to an adjustment of rates to a "just and reasonable level" for both pipeline companies and customers. This means they'll be able to mitigate much of the impact the policy change would otherwise have had on their cash flow.

Simply put, this adjustment could make MLPs viable funding vehicles for energy companies once again, since they could drop down natural gas pipelines to these entities without seeing significant drops in income. Dominion Energy, for example, had hoped to drop down up to $8 billion in assets to Dominion Energy Midstream to support its long-term financing plan, which would have grown the MLP's distribution at a 22% compound annual rate through 2020. The rule change initially had Dominion exploring an alternative funding plan. However, that might not be necessary now that FERC has provided it with options to address the lost cash flow from the tax allowance.

Now what

The initial FERC policy change caused energy companies to rethink their views on the MLP structure as a way to finance growth. While the finalized policy provides them with methods to cushion the blow, it's still unclear if it will be enough to make MLP's viable funding vehicles once again. Because of that, investors should hold off on opening positions in Enbridge Energy Partners, Spectra Energy Partners, Dominion Energy Midstream, and TC Pipelines until there's more clarity on what Enbridge, Dominion, and TransCanada plan to do with those entities.

$1.06 EPS Expected for C.H. Robinson Worldwide Inc (CHRW) This Quarter

Equities research analysts expect that C.H. Robinson Worldwide Inc (NASDAQ:CHRW) will post $1.06 earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have issued estimates for C.H. Robinson Worldwide’s earnings. The lowest EPS estimate is $1.00 and the highest is $1.10. C.H. Robinson Worldwide reported earnings per share of $0.78 in the same quarter last year, which would suggest a positive year over year growth rate of 35.9%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, July 31st.

On average, analysts expect that C.H. Robinson Worldwide will report full-year earnings of $4.38 per share for the current year, with EPS estimates ranging from $4.21 to $4.50. For the next financial year, analysts expect that the business will post earnings of $4.85 per share, with EPS estimates ranging from $4.27 to $5.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow C.H. Robinson Worldwide.

Get C.H. Robinson Worldwide alerts:

C.H. Robinson Worldwide (NASDAQ:CHRW) last issued its quarterly earnings data on Tuesday, May 1st. The transportation company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. C.H. Robinson Worldwide had a return on equity of 36.63% and a net margin of 3.41%. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period last year, the business earned $0.86 EPS. The business’s revenue was up 14.9% on a year-over-year basis.

CHRW has been the topic of several recent analyst reports. BidaskClub upgraded C.H. Robinson Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 22nd. ValuEngine upgraded C.H. Robinson Worldwide from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded C.H. Robinson Worldwide from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research note on Tuesday, April 3rd. Morgan Stanley dropped their price objective on C.H. Robinson Worldwide from $70.00 to $68.00 and set an “underweight” rating on the stock in a research note on Friday, April 6th. Finally, Robert W. Baird restated a “hold” rating and set a $100.00 price objective on shares of C.H. Robinson Worldwide in a research note on Tuesday, April 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.60.

C.H. Robinson Worldwide traded up $0.40, hitting $87.70, during trading hours on Tuesday, MarketBeat.com reports. 1,265,900 shares of the company traded hands, compared to its average volume of 1,456,065. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.51. C.H. Robinson Worldwide has a one year low of $63.41 and a one year high of $100.18. The stock has a market cap of $12.08 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.20 and a beta of 0.42.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 1st were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Thursday, May 31st. C.H. Robinson Worldwide’s payout ratio is 52.87%.

C.H. Robinson Worldwide announced that its board has approved a share buyback program on Thursday, May 10th that allows the company to buyback 15,000,000 outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of C.H. Robinson Worldwide by 2.3% during the 1st quarter. BlackRock Inc. now owns 11,163,127 shares of the transportation company’s stock worth $1,046,098,000 after purchasing an additional 248,268 shares during the period. First Eagle Investment Management LLC raised its stake in shares of C.H. Robinson Worldwide by 0.7% during the 1st quarter. First Eagle Investment Management LLC now owns 6,449,795 shares of the transportation company’s stock worth $604,410,000 after purchasing an additional 42,487 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of C.H. Robinson Worldwide by 4.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,553,291 shares of the transportation company’s stock worth $145,559,000 after purchasing an additional 66,810 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of C.H. Robinson Worldwide by 17.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 904,307 shares of the transportation company’s stock worth $84,743,000 after purchasing an additional 133,193 shares during the period. Finally, Saratoga Research & Investment Management raised its stake in shares of C.H. Robinson Worldwide by 0.9% during the 1st quarter. Saratoga Research & Investment Management now owns 707,153 shares of the transportation company’s stock worth $66,267,000 after purchasing an additional 6,093 shares during the period. Institutional investors own 90.59% of the company’s stock.

C.H. Robinson Worldwide Company Profile

C.H. Robinson Worldwide, Inc, a third party logistics company, provides freight transportation services and logistics solutions to companies in various industries worldwide. The company operates through three segments: North American Surface Transportation, Global Forwarding, and Robinson Fresh. It offers transportation and logistics services, such as truckload; less than truckload transportation which include the shipment of single or multiple pallets of freight; intermodal transportation, which is shipment service of freight in trailers or containers by a combination of truck and rail; and non-vessel ocean common carrier or freight forwarding services, as well as organizes air shipments and provides door-to-door services.

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Bitcoin jumps after report suggests BlackRock is getting serious about the cryptocurrency market

The price of bitcoin surged Monday after a report said that BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market.

The world��s most valuable virtual currency by market value jumped more than 4 percent to around $6,612, according to industry website CoinDesk, which tracks prices from a number of different exchanges.

The prices of ethereum and ripple, the second and third-largest digital assets by market capitalization respectively, also got a boost. Ethereum was up by more than 5 percent while ripple jumped 4 percent.

London��s Financial News newspaper, citing two unnamed sources, said that BlackRock has formed a team from different parts of the business to investigate cryptocurrencies and blockchain, the technology that underpins them.

According to one of the sources, the asset management giant will study whether it should invest in bitcoin futures. The sources also said that BlackRock��s working group will keep a close eye on what its competitors are doing in regard to cryptocurrencies and blockchain.

"Like most financial institutions, BlackRock has a working group that meets periodically to exchange information on blockchain and consists of employees from various parts of the business," a spokesperson for the company said in an emailed statement.

"We have been looking at blockchain technology for several years, recognizing potential for shared processes and data across market participants, clearing, settlement and reconciliation and simplified securities issuance.��

CNBC understands that the working group is not a new development and has, in fact, existed since 2015.

show chapters What five bullish experts have to say about bitcoin    4:52 PM ET Fri, 13 July 2018 | 04:29

Following the report, BlackRock Chief Executive Larry Fink threw any speculation that the investment manager is looking to buy into bitcoin out of the window.

"I don��t believe any client has sought out crypto exposure," he told Bloomberg on Monday. "I��ve not heard from one client who says, ��I need to be in this.��"

Fink has previously railed against bitcoin, calling it an ��index of money laundering.��

The news follows a report by Fortune magazine that hedge fund billionaire Steve Cohen��s venture arm Cohen Private Ventures invested in Autonomous Partners, a cryptocurrency-focused investment fund.

Many industry experts believe that increased involvement from institutional investors in the cryptocurrency space will boost confidence in an otherwise dubious market.

��It definitely is causing some excitement,�� Mati Greenspan, senior market analyst at eToro, said of the report on Monday. ��The idea of big financial firms moving into crypto certainly isn��t new and this is a trend we��ve been noticing gaining strength since November.��

Last year, two trading giants, CME Group and the CBOE, launched bitcoin futures products, lifting hopes of institutional involvement in cryptocurrencies.

Virtual currencies have been shrouded in doubt due to excessive volatility in the market resulting in wild price swings. Bitcoin soared close to $20,000 late last year, but has declined since, with transaction volumes falling significantly.

Financial regulators around the world are concerned about the speculative nature of cryptocurrencies, and their possible use for illicit activities. China and South Korea have both banned a practice known as an initial coin offering (ICO), for instance, which is a means of start-ups selling new digital tokens to propel their business.

Wells Fargo's scandals are hurting its bottom line

Wells Fargo's earnings keep getting dinged by a laundry list of scandals.

Profit, loans, deposits and revenue all shrank last quarter, Wells Fargo (WFC) said on Friday.

One thing that is going up is expenses. Wells Fargo said operating losses surged 77% last quarter because of various problems in its auto lending, wealth management, mortgage and currency businesses. Overall expenses rose by 3%.

Meanwhile, Wells Fargo said profit declined by 12% during the second quarter, missing Wall Street's expectations. The bank's stock, which has lagged behind the rest of the market, tumbled 3% in premarket trading.

Wells Fargo was also hurt by a $481 million income tax bill linked to a recent Supreme Court ruling that allows states to force online retailers to collect sales taxes.

One bright spot: Wells Fargo is returning gobs of money to shareholders thanks to the corporate tax cut and a clean bill of health from the Fed's stress tests. The bank said it plans to raise its dividend by 10% and buy back up to $24.5 billion of stock.

Still, Wells Fargo's results stand in stark contrast to America's biggest bank. JPMorgan Chase (JPM)said on Friday its profits jumped by 18% to $8.3 billion. That's just shy of JPMorgan's first-quarter haul of $8.7 billion -- which was a record for any US bank.

It's been a very difficult nearly two years for Wells Fargo. A wave of controversy, kicked off by the fake-accounts scandal, have hurt Wells Fargo's reputation, raised its legal expenses and drawn the ire of regulators.

The Federal Reserve harshly penalized Wells Fargo in February by imposing sanctions that prevent the bank from growing its balance sheet. The bank doesn't expect to escape the asset cap until next year.

Regulators also charged Wells Fargo a $1 billion fine for forcing customers into unneeded auto insurance and charging them unnecessary mortgage fees.

Wells Fargo said on Friday that it suffered $619 million of operating losses for "previously disclosed matters," including policies, practices and procedures in its foreign exchange business. Wells Fargo previously disclosed that the government has inquired about this unit. Other areas that Wells Fargo is spending money to clean up include its auto lending business and reviews into how it charges mortgage and wealth management fees.

Why Groupon Stock Has Lost 16% in 2018

What happened�

Groupon (NASDAQ:GRPN) stock trailed the market over the first half of the year, shedding 16% compared to a 2% uptick in the S&P 500, according to data provided by S&P Global Market Intelligence.

^SPX data by YCharts.

That slump contributed to intense volatility for the digital coupon specialist's shareholders, who've seen their stock returns range from 50% losses to 25% gains in the past three years.

So what

Investors aren't yet convinced that the company can build up a defensible position in the marketplace for local business advertising -- let alone one that throws off consistently strong� profits. Groupon earned a tiny $14 million in 2017 and has posted a net loss in three of the last five fiscal years. Its most recent quarter included a modest loss, too, but management said it was happy to see profitability improve thanks to cost cuts.�

Image source: Getty Images.

Now what

Groupon's global customer base has held steady at about 50 million over the past six months and even ticked down in the core U.S. market. The company will need those metrics to improve over time for its business trends to rebound. Instead, management is predicting that the customer pool�will shrink slightly in the second quarter as it aims to shift its marketing toward higher-spending shoppers.

BitSend (BSD) 24 Hour Trading Volume Hits $27,593.00

BitSend (CURRENCY:BSD) traded up 1.1% against the U.S. dollar during the 1 day period ending at 15:00 PM Eastern on July 9th. BitSend has a total market capitalization of $5.62 million and $27,593.00 worth of BitSend was traded on exchanges in the last 24 hours. Over the last week, BitSend has traded 0.2% higher against the U.S. dollar. One BitSend coin can now be purchased for $0.28 or 0.00004234 BTC on cryptocurrency exchanges including LiteBit.eu, SouthXchange, Upbit and Cryptopia.

Here’s how other cryptocurrencies have performed over the last 24 hours:

Get BitSend alerts: Dash (DASH) traded 4.5% lower against the dollar and now trades at $233.03 or 0.03471100 BTC. Enigma (ENG) traded down 4.8% against the dollar and now trades at $1.39 or 0.00020733 BTC. CPChain (CPC) traded down 3.5% against the dollar and now trades at $0.0690 or 0.00001027 BTC. I/O Coin (IOC) traded 2.5% lower against the dollar and now trades at $0.51 or 0.00007584 BTC. ATMChain (ATM) traded 8.7% lower against the dollar and now trades at $0.0013 or 0.00000020 BTC. PinkCoin (PINK) traded 29% higher against the dollar and now trades at $0.0158 or 0.00000236 BTC. EuropeCoin (ERC) traded down 0.5% against the dollar and now trades at $0.29 or 0.00004300 BTC. Memetic / PepeCoin (MEME) traded up 0.7% against the dollar and now trades at $0.0940 or 0.00001401 BTC. B3Coin (KB3) traded down 7.1% against the dollar and now trades at $0.0027 or 0.00000041 BTC. BlueCoin (BLU) traded down 5.1% against the dollar and now trades at $0.0028 or 0.00000042 BTC.

About BitSend

BitSend (BSD) is a PoW/PoS coin that uses the X11 hashing algorithm. BitSend’s total supply is 19,754,725 coins. BitSend’s official Twitter account is @Bit_send. The official website for BitSend is www.bitsend.info.

According to CryptoCompare, “Darksend InstantX “

BitSend Coin Trading

BitSend can be bought or sold on the following cryptocurrency exchanges: SouthXchange, Bittrex, Livecoin, LiteBit.eu, Cryptopia and Upbit. It is usually not possible to purchase alternative cryptocurrencies such as BitSend directly using U.S. dollars. Investors seeking to acquire BitSend should first purchase Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as Coinbase, GDAX or Changelly. Investors can then use their newly-acquired Ethereum or Bitcoin to purchase BitSend using one of the aforementioned exchanges.

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Why Sorrento Therapeutics, Inc. Stock Sank Today

What happened

Shares of Sorrento Therapeutics, Inc. (NASDAQ:SRNE) are down 10.2% as of 3:12 p.m. EDT Thursday on higher-than-average volume, but it's not clear what's going on with the biotech. Sorrento announced on Tuesday morning that it was acquiring Kimberly Clark's Sofusa�lymphatic delivery technology, which consists of�nano-structured microneedles to deliver drugs into lymphatic capillaries beneath the skin.

However, that news had minimal impact�on the biotech's share price prior to the U.S. Independence Day holiday.

Image source: Getty Images.

It's possible that we're seeing a delayed reaction to this acquisition. No terms of the deal were announced, so perhaps some investors worried that Sorrento could be paying too much. Shareholders have learned that the fine print with Sorrento's transactions can be troubling, as seen earlier this year with a convertible note offering.�

Another possibility is that rising tensions over trade between the U.S. and China could be impacting Sorrento. The company announced in June that it planned to list on the Hong Kong stock exchange. Investors could have been spooked by worries about the new listing in light of the escalating war of words and tariffs.

So what

Should investors be concerned by the latest drop? Probably not -- at least not at this point. Perhaps more information will be revealed over the next few days that will help explain why Sorrento stock fell. It could be that, in a few months from now, regulatory filings with the Securities and Exchange Commission will show that a big institutional investor was selling shares, causing downward pressure on Sorrento's share price.

On the other hand, we might never know for sure why Sorrento stock sank on Thursday. The reality is that small-cap biotech stocks swing up and down by 10% or more fairly frequently without any discernible reason. Sorrento Therapeutics'�beta value of 3.51 shows just how volatile the stock is.�

Now what

Nothing has changed with the investing premise for Sorrento. If you like the stock, there's no reason to stop liking it. If you're down on Sorrento, there's no reason to make you more positive about it.

Bulls still are eagerly awaiting the biotech's planned U.S. launch of the Ztlido lidocaine topical system in the fourth quarter of 2018. They're also looking forward to Sorrento's phase 1 clinical studies of its CD38 chimeric antigen receptor T cell (CAR-T) therapy and resiniferatoxin in treating�osteoarthritis knee pain. Bears are wondering what's taking the company so long to launch Ztlido, since the drug won Food and Drug Administration approval in February 2018.

Bystanders, on the other hand, might be best served by staying on the sidelines, considering Sorrento's volatility. There are plenty of stocks out there, including biotech stocks, with clearer pathways to success and less uncertainty.

China's big bond experiment is about to go through a rough patch

One year ago, China made a major move to open up its domestic, or onshore, bond market. But the sector is now facing a trying time as investors brace for a greater number of payment defaults in the months ahead.

That��s coming at a time when the Chinese economy faces the threat of a further slowdown amid an escalating trade conflict with the U.S., which could rattle investors already cautious about putting money in yuan-denominated assets.

As it is, there are signs that investor sentiment on China has been hit, Hou Wey Fook, chief investment officer of Singapore��s DBS Bank, said Monday. He pointed to the recent sell-off in shares of Chinese companies listed in Shanghai. Last week, that market entered bear territory, meaning it had fallen at least 20 percent from recent highs.

That has happened even though bond defaults in the world��s second-largest economy are more ��idiosyncratic�� than widespread and the ��default rate is still very low,�� Hou told reporters at a briefing.

The first six months of this year saw 11 Chinese companies failing to pay the principal or interest on 20 bonds worth a total of 19.9 billion yuan ($3 billion), according to Reuters. That compares with 26 defaults worth 26 billion yuan in the whole of 2017.

Those numbers are likely to increase as China��s efforts to clean up its financial sector have made borrowing costs higher, and more companies will find it harder to repay their debt, experts said. In the coming quarter, more than 2,000 bonds valued at 2.3 trillion yuan ($342.72 billion) will mature, Chinese state-owned media China Daily reported, citing data from Wind Info.

China's opening up is still a work in progress

The increasing number of defaults coincides with the one-year anniversary of China's ��bond connect�� program, which the chief executive of Hong Kong's stock exchange, Charles Li, called a ��huge breakthrough�� ahead of its launch.

The initiative allows international investors to trade bonds in mainland China through Hong Kong with fewer limitations. Older programs have a cap on the investment amount, and require foreigners to go through a lengthy process involving account opening and finding a clearing agent with international settlement.

show chapters Shanghai composite falls in June, on track for worst year since 2011    3:13 AM ET Mon, 2 July 2018 | 02:24

There are now 356 overseas institutional investors registered to trade through the bond connect as of last month, while total foreign holdings of Chinese bonds �� not limited to those bought through the program �� grew 62.7 percent from July last year to 1.44 trillion yuan ($214.76 billion) in May 2018, according to official statistics.

But that��s still less than 2 percent of the roughly $12 trillion Chinese bond market, which is ��very small�� compared to the country��s economic importance, said Andy Seaman, partner and chief investment officer at Stratton Street.

��The fact that many firms have bigger investments in U.S. high yield and peripheral European bond markets than they do in Chinese government bonds remains perhaps the biggest mystery in global financial markets,�� Seaman told CNBC in an email.

He added there are several issues with the bond connect that have held back greater investor participation, including uncertainties over taxation, and a delay in the delivery of bonds and receipt of payment. Still, those issues are being ironed out and the program is ��already a major success�� in providing greater access to the world��s third-largest bond market, he said.

A healthier China in the making

In addition to the credit defaults and technical kinks in the bond connect program, the Chinese currency is expected to weaken further �� which gives foreign investors another reason to stay away because that threatens their potential monetary returns.

But China has to go through some pains to strengthen its financial industry, experts said. Allowing problematic companies to fail is necessary so that the remaining healthier firms can help to draw foreign investors into China, they added.

show chapters Concerns about China's economy are 'a bit overdone': Strategist    3:12 AM ET Mon, 2 July 2018 | 02:01

��We believe orderly bond defaults could foster healthier development of the onshore bond market, increasing its attractiveness to foreign investors and facilitating China's capital account liberalization over the longer run,�� Morgan Stanley analysts wrote in a report in June.

The defaults that have emerged among Chinese companies make up just 0.2 percent of the outstanding corporate bonds. That's ��significantly lower�� than the global corporate default rate of 1.2 percent in 2017, the analysts added.

But for a Chinese government used to coming to the rescue of companies, especially state-owned ones, letting more firms fail in the coming months will be a test of its ��commitment to reforms,�� ANZ analysts wrote in a June report.

��A major project of the government is to crack ��implicit guarantee��, to draw a clear line between fiscal and non-fiscal liability,�� they said. ��There will be many more credit default events reported by the media ... It will be a test of the government��s commitment to its reforms.��

Best China Stocks To Watch For 2019

tags:ETM,HCP,ALTAF,

Bitcoin got hammered yesterday after New York Attorney General Eric Schneiderman announced an investigation into some of the major cryptocurrency exchanges.

I��ve been warning about a coming government crackdown on bitcoin for several months, and now we��re seeing it happening around the world.

From China to Japan to South Korea and here in the U.S., the regulators are closing in on bitcoin. And all those who thought their bitcoin was invisible to the IRS are getting a rude awakening these days.

Bitcoin was the classic bubble. Market bubbles are nothing new. In the 17th and 18th centuries we had the Dutch tulip bubble, the French Mississippi bubble and the U.K.��s South Sea bubble.

The 19th century saw bubbles in canal building (1830s), gold (1869) and railroads (1890s). In the 20th and 21st centuries we have seen bubbles in Florida real estate (mid-1920s), stocks (late 1920s), dot-coms (2000) and mortgages (2007).

All of these episodes of investment mania crashed, causing enormous losses for investors. As always, some investors got in early and got out before the crash and walked away with their winnings. But most did not.

Best China Stocks To Watch For 2019: Entercom Communications Corporation(ETM)

Advisors' Opinion:

• [By Joseph Griffin]

  Entercom Communications (NYSE:ETM) was downgraded by research analysts at Noble Financial from a “buy” rating to a “hold” rating in a report released on Wednesday, The Fly reports.

• [By Lisa Levin]

  Entercom Communications Corp. (NYSE: ETM) shares dropped 18 percent to $8.75 following Q1 earnings.

  Shares of Hertz Global Holdings, Inc. (NYSE: HTZ) were down 17 percent to $18.505 after the company reported a wider-than-expected loss for its first quarter.

• [By Max Byerly]

  Keeley Teton Advisors LLC increased its stake in Entercom Communications Corp. (NYSE:ETM) by 64.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 202,992 shares of the company’s stock after acquiring an additional 79,580 shares during the quarter. Keeley Teton Advisors LLC owned approximately 0.15% of Entercom Communications worth $1,959,000 at the end of the most recent quarter.

Best China Stocks To Watch For 2019: HCP, Inc.(HCP)

Advisors' Opinion:

• [By Ethan Ryder]

  HCP (NYSE:HCP) was downgraded by analysts at Evercore ISI from an in-line rating to an underperform rating.

  Aurubis (ETR:NDA) was given a €90.00 ($104.65) target price by analysts at Nord/LB. The firm currently has a buy rating on the stock.

• [By Matthew Frankel]

  Healthcare real estate investment trust HCP (NYSE:HCP) hasn't exactly been a high-performing stock recently. In fact, while the S&P 500 has risen 26% over the past two years, HCP has fallen 23%.

• [By Nelson Hem]

  In "Raymond James Picks Welltower, Sabra Health In Underweighted Health Care REIT Sector," Shanthi Rexaline takes a look at why HCP, Inc. (NYSE: HCP) didn't make the cut among these health care REIT picks.

• [By Ethan Ryder]

  Swiss National Bank decreased its position in shares of HCP, Inc. (NYSE:HCP) by 13.1% in the first quarter, Holdings Channel reports. The fund owned 1,499,221 shares of the real estate investment trust’s stock after selling 226,400 shares during the quarter. Swiss National Bank’s holdings in HCP were worth $34,827,000 as of its most recent SEC filing.

Best China Stocks To Watch For 2019: Altura Mining Limited (ALTAF)

Advisors' Opinion:

• [By ]

  Altura Mining [ASX:AJM] (OTC:ALTAF)

  On April 30, Altura Mining announced: "Stage 2 Definitive Feasibility Study at Pilgangoora delivers outstanding results." Highlights include:

AT&T Inc. (T) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC decreased its stake in AT&T Inc. (NYSE:T) by 28.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,120 shares of the technology company’s stock after selling 3,221 shares during the period. Prime Capital Investment Advisors LLC’s holdings in AT&T were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in T. Morse Asset Management Inc acquired a new stake in AT&T during the fourth quarter worth $210,000. Schwab Charles Investment Management Inc. boosted its stake in AT&T by 3.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 24,972,250 shares of the technology company’s stock worth $970,676,000 after buying an additional 937,029 shares in the last quarter. First Bank & Trust boosted its stake in AT&T by 12.3% during the fourth quarter. First Bank & Trust now owns 87,870 shares of the technology company’s stock worth $3,417,000 after buying an additional 9,614 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in AT&T by 8.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 115,254 shares of the technology company’s stock worth $4,481,000 after buying an additional 8,975 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in AT&T by 12.0% during the third quarter. Prudential Financial Inc. now owns 17,431,916 shares of the technology company’s stock worth $682,808,000 after buying an additional 1,869,070 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Get AT&T alerts:

AT&T stock opened at $31.69 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.11 and a quick ratio of 1.11. AT&T Inc. has a 12-month low of $31.17 and a 12-month high of $39.80. The stock has a market capitalization of $193.99 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 2.70 and a beta of 0.41.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 25th. The technology company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.02). AT&T had a net margin of 19.25% and a return on equity of 14.46%. The business had revenue of $38.04 billion during the quarter, compared to the consensus estimate of $39.36 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. sell-side analysts predict that AT&T Inc. will post 3.41 EPS for the current fiscal year.

A number of equities research analysts have weighed in on T shares. Deutsche Bank decreased their price target on shares of AT&T from $41.00 to $36.00 and set a “hold” rating on the stock in a research note on Tuesday, May 1st. Zacks Investment Research upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Monday, March 5th. Wells Fargo & Co decreased their price target on shares of AT&T from $48.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, March 23rd. ValuEngine downgraded shares of AT&T from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Finally, Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research note on Wednesday, June 13th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $40.10.

AT&T Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

Want to see what other hedge funds are holding T? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AT&T Inc. (NYSE:T).

VirtualCoin Price Tops $0.0119 on Exchanges (VC)

VirtualCoin (CURRENCY:VC) traded flat against the US dollar during the twenty-four hour period ending at 16:00 PM ET on June 19th. One VirtualCoin coin can currently be purchased for approximately $0.0119 or 0.00000144 BTC on exchanges. During the last seven days, VirtualCoin has traded 33.1% lower against the US dollar. VirtualCoin has a market cap of $120,251.00 and approximately $0.00 worth of VirtualCoin was traded on exchanges in the last 24 hours.

Here is how similar cryptocurrencies have performed during the last 24 hours:

Get VirtualCoin alerts: GanjaCoin (MRJA) traded flat against the dollar and now trades at $0.0410 or 0.00000441 BTC. Digital Money Bits (DMB) traded up 9.7% against the dollar and now trades at $0.0052 or 0.00000077 BTC. Mao Zedong (MAO) traded up 12.2% against the dollar and now trades at $0.0686 or 0.00001015 BTC. BumbaCoin (BUMBA) traded up 6.3% against the dollar and now trades at $0.0055 or 0.00000081 BTC. Quebecoin (QBC) traded up 10.2% against the dollar and now trades at $0.0075 or 0.00000111 BTC. Dollar Online (DOLLAR) traded up 24.2% against the dollar and now trades at $0.0173 or 0.00000256 BTC. CrevaCoin (CREVA) traded 13% higher against the dollar and now trades at $0.0001 or 0.00000002 BTC. LevoPlus (LVPS) traded up 5.5% against the dollar and now trades at $0.0009 or 0.00000014 BTC. Tristar Coin (TSTR) traded 0.4% higher against the dollar and now trades at $0.0002 or 0.00000003 BTC. SegWit2x (B2X) traded down 5.1% against the dollar and now trades at $0.56 or 0.00008335 BTC.

VirtualCoin Profile

VirtualCoin (CRYPTO:VC) is a coin. Its genesis date was January 31st, 2017. VirtualCoin’s total supply is 10,064,287 coins. VirtualCoin’s official Twitter account is @PRVirtualCoin.

Buying and Selling VirtualCoin

VirtualCoin can be purchased on these cryptocurrency exchanges: CoinExchange. It is usually not currently possible to buy alternative cryptocurrencies such as VirtualCoin directly using US dollars. Investors seeking to trade VirtualCoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to buy VirtualCoin using one of the exchanges listed above.

Top 5 Cheap Stocks To Watch For 2019

tags:KSS,RCII,WEN,UNH,PH,

Interest rates are rising, making debt much more expensive for capital-intensive industries across America. But there’s at least one exception: the solar business.

While the cost of borrowing has been increasing since 2016, some banks are taking a smaller cut to win deals from solar developers. Loans of seven years or longer can be obtained for 137.5 basis points over the benchmark London Interbank Offered Rate, or Libor, down from as much as 200 basis points last year, said Keith Martin, a project-finance attorney at Norton Rose Fulbright LLP. Even the higher-rate loans for residential projects are getting cheaper.

“Investor confidence has increased, causing debt costs to fall despite rising interest rates,” said Ed Fenster, executive chairman of Sunrun Inc., the largest U.S. residential-solar company. “Our spreads are coming down faster than the base rate is increasing.”

Poised to Rebound

U.S. solar installations are expected to increase after a down 2018

Top 5 Cheap Stocks To Watch For 2019: Kohl's Corporation(KSS)

Advisors' Opinion:

• [By Benzinga News Desk]

  Billionaire hedge funder Dan Loeb is seeing more opportunities to bet against the market this year: Link

  ECONOMIC DATA USA Import Price Index (MoM) for Apr 0.30% vs 0.50% Est; Prior 0.30% The University of Michigan's consumer sentiment index for May is schedule for release at 10:00 a.m. ET. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET. ANALYST RATINGS JPMorgan upgraded Verizon (NYSE: VZ) from Neutral to Overweight Stifel upgraded Kimbell Royalty Partners (NYSE: KRP) from Hold to Buy Credit Suisse downgraded Kohl's (NYSE: KSS) from Outperform to Neutral BTIG downgraded Symantec (NASDAQ: SYMC) from Buy to Neutral

  This is a tool used by the Benzinga News Desk each trading day — it's a look at everything happening in the market, in five minutes. To get the full version of this note every morning, click here.

• [By Paul Ausick]

  Kohl��s Corp. (NYSE: KSS) reported first-quarter fiscal 2018 results before markets opened Tuesday. The department store retailer reported adjusted diluted earnings per share (EPS) of $0.64 on total revenues of $4.21 billion. In the first quarter of 2017, the company reported EPS of $0.39 on revenue of $4.01 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.50 and $3.95 billion in revenue.

• [By Adam Levine-Weinberg]

  Nearly a year ago, J.C. Penney (NYSE:JCP) installed toy shops in all of its stores. The timing was fortuitous, and it will give J.C. Penney a great opportunity to earn incremental sales. Last week, Kohl's (NYSE:KSS) revealed that it too plans to capitalize on the demise of Toys R Us by diving into the toy market in time for the 2018 holiday shopping season.

• [By Shane Hupp]

  Ostrum Asset Management acquired a new stake in shares of Kohl’s Co. (NYSE:KSS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,512 shares of the company’s stock, valued at approximately $1,016,000.

Top 5 Cheap Stocks To Watch For 2019: Rent-A-Center Inc.(RCII)

Advisors' Opinion:

• [By Logan Wallace]

  AerCap (NYSE: AER) and Rent-A-Center (NASDAQ:RCII) are both finance companies, but which is the better investment? We will contrast the two companies based on the strength of their profitability, dividends, institutional ownership, earnings, risk, analyst recommendations and valuation.

• [By ]

  Engaged Capital maintained large positions in Rent-A-Center (RCII) , TiVo (TIVO) , Hain Celestial (HAIN) , SunOpta and Jamba Inc. (JMBA) , all companies that have either previously been targeted by Welling or currently are in his cross-hairs.

• [By Ethan Ryder]

  Get a free copy of the Zacks research report on Rent-A-Center (RCII)

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

• [By Max Byerly]

  COPYRIGHT VIOLATION NOTICE: “Q1 2018 EPS Estimates for Rent-A-Center Increased by KeyCorp (RCII)” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.tickerreport.com/banking-finance/3350595/q1-2018-eps-estimates-for-rent-a-center-increased-by-keycorp-rcii.html.

• [By Shane Hupp]

  Shares of Rent-A-Center Inc (NASDAQ:RCII) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.75.

• [By Logan Wallace]

  OMERS ADMINISTRATION Corp decreased its holdings in shares of Rent-A-Center Inc (NASDAQ:RCII) by 52.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,200 shares of the company’s stock after selling 79,200 shares during the period. OMERS ADMINISTRATION Corp owned about 0.14% of Rent-A-Center worth $623,000 as of its most recent SEC filing.

Top 5 Cheap Stocks To Watch For 2019: Wendy's/Arby's Group Inc.(WEN)

Advisors' Opinion:

• [By ]

  In the Lightning Round, Cramer was bullish on Spirit AeroSystems (SPR) , Take-Two Interactive (TTWO) , Dunkin Brands (DNKN) and Wendy's (WEN) .

  Cramer was bearish on Bristol-Myers Squibb (BMY) and Univar (UNVR) .

• [By Leo Sun]

  However, the fast casual market became increasingly crowded with rival chains like Panera Bread and Chipotle, and Zoe's got squeezed between traditional dine-in restaurants like Darden's Olive Garden and evolving fast food players like Wendy's (NASDAQ:WEN) and McDonald's (NYSE:MCD).

• [By Jeremy Bowman]

  The chart below shows how McDonald's compares with some of its closest peers based on its valuation and expected growth rate.

  Company P/E Ratio 2-Year Expected EPS Growth Rate McDonald's (NYSE:MCD) 26.2 23.6% Starbucks (NASDAQ:SBUX) 26.2 27.3% Wendy's (NASDAQ:WEN) 21.8 58.1% Restaurant Brands International�(NYSE:QSR) 21.4 41.9% Yum! Brands�(NYSE:YUM) 23.2 29.7%

  Data source: Yahoo! Finance. EPS = earnings per share.

• [By Joseph Griffin]

  Hsbc Holdings PLC lowered its position in shares of Wendys Co (NASDAQ:WEN) by 91.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,590 shares of the restaurant operator’s stock after selling 299,154 shares during the quarter. Hsbc Holdings PLC’s holdings in Wendys were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

• [By Logan Wallace]

  Wendy’s (NASDAQ:WEN) major shareholder Edward P. Garden sold 764,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $16.53, for a total value of $12,628,920.00. Following the completion of the sale, the insider now directly owns 240,365 shares of the company’s stock, valued at approximately $3,973,233.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Top 5 Cheap Stocks To Watch For 2019: UnitedHealth Group Incorporated(UNH)

Advisors' Opinion:

• [By Paul Ausick]

  The DJIA stock posting the largest daily percentage gain ahead of the close Thursday was UnitedHealth Group Inc. (NYSE: UNH) which traded up 0.87% at $222.34. The stock’s 52-week range is $156.09 to $231.77. Volume was about a two-thirds less than the daily average of around 3 million shares. The company had no specific news.

• [By Paul Ausick]

  UnitedHealth Group Inc. (NYSE: UNH) traded up 0.37% at $220.41. The stock’s 52-week range is $156.09 to $231.77. Volume was about a 65% below the daily average of around 3 million shares. The company had no specific news.

• [By Paul Ausick]

  UnitedHealth Group Inc. (NYSE: UNH) traded up 2.46% at $238.63. The stock’s 52-week range is $156.09 to $238.95, a new 52-week high set this afternoon. Volume was about 33% above the daily average of around 3 million shares. The company had no specific news Wednesday.

• [By Joseph Griffin]

  Traders sold shares of UnitedHealth Group (NYSE:UNH) on strength during trading on Wednesday. $83.82 million flowed into the stock on the tick-up and $145.51 million flowed out of the stock on the tick-down, for a money net flow of $61.69 million out of the stock. Of all companies tracked, UnitedHealth Group had the 16th highest net out-flow for the day. UnitedHealth Group traded up $2.22 for the day and closed at $241.72

Top 5 Cheap Stocks To Watch For 2019: S&P Smallcap 600(PH)

Advisors' Opinion:

• [By Ethan Ryder]

  Get a free copy of the Zacks research report on Parker Hannifin (PH)

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

• [By Joseph Griffin]

  State Board of Administration of Florida Retirement System reduced its position in Parker Hannifin (NYSE:PH) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,950 shares of the industrial products company’s stock after selling 6,667 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.13% of Parker Hannifin worth $29,580,000 as of its most recent SEC filing.

• [By Logan Wallace]

  Ardevora Asset Management LLP reduced its stake in shares of Parker Hannifin (NYSE:PH) by 0.5% in the first quarter, HoldingsChannel.com reports. The fund owned 154,400 shares of the industrial products company’s stock after selling 800 shares during the quarter. Ardevora Asset Management LLP’s holdings in Parker Hannifin were worth $26,407,000 as of its most recent filing with the Securities & Exchange Commission.

$161.78 Million in Sales Expected for Universal Electronics Inc (UEIC) This Quarter

Brokerages predict that Universal Electronics Inc (NASDAQ:UEIC) will announce sales of $161.78 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Universal Electronics’ earnings, with estimates ranging from $161.15 million to $162.40 million. Universal Electronics posted sales of $177.58 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.9%. The firm is expected to report its next quarterly earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Universal Electronics will report full-year sales of $681.56 million for the current financial year, with estimates ranging from $672.70 million to $690.42 million. For the next year, analysts anticipate that the business will post sales of $741.16 million per share, with estimates ranging from $737.91 million to $744.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Universal Electronics.

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Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, May 3rd. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.02). Universal Electronics had a negative net margin of 1.58% and a positive return on equity of 9.08%. The company had revenue of $164.70 million for the quarter, compared to analysts’ expectations of $172.68 million.

A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 12th. ValuEngine lowered shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Friday, May 4th. Piper Jaffray Companies lowered shares of Universal Electronics from an “overweight” rating to a “neutral” rating in a research note on Friday, May 4th. Zacks Investment Research lowered shares of Universal Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. Finally, B. Riley lowered shares of Universal Electronics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $46.00 in a research note on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has a consensus rating of “Sell” and an average target price of $63.00.

NASDAQ:UEIC traded down $0.03 during mid-day trading on Tuesday, reaching $31.00. The company’s stock had a trading volume of 139,100 shares, compared to its average volume of 110,657. Universal Electronics has a 1 year low of $26.97 and a 1 year high of $72.50. The firm has a market cap of $437.90 million, a PE ratio of 11.03, a price-to-earnings-growth ratio of 4.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.24 and a quick ratio of 0.80.

In related news, insider Richard A. Firehammer, Jr. sold 2,817 shares of the company’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $52.35, for a total value of $147,469.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Stapleton sold 10,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $50.04, for a total transaction of $500,400.00. Following the completion of the sale, the director now directly owns 37,601 shares of the company’s stock, valued at $1,881,554.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,317 shares of company stock valued at $829,170. 5.97% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in UEIC. First Mercantile Trust Co. lifted its position in shares of Universal Electronics by 83.7% during the fourth quarter. First Mercantile Trust Co. now owns 3,651 shares of the technology company’s stock valued at $173,000 after buying an additional 1,664 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Universal Electronics during the fourth quarter valued at about $235,000. Wrapmanager Inc. purchased a new stake in shares of Universal Electronics during the first quarter valued at about $255,000. MetLife Investment Advisors LLC purchased a new stake in shares of Universal Electronics during the fourth quarter valued at about $285,000. Finally, FDx Advisors Inc. purchased a new stake in shares of Universal Electronics during the first quarter valued at about $295,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Universal Electronics Company Profile

Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.

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Hot Undervalued Stocks To Invest In 2019

tags:OMEX,ECOM ,SHI,ESP,DDS,

NEW YORK �� The outspoken CEO of the largest automotive dealership chain in the U.S. publicly questioned the market value of Tesla on Tuesday, escalating the rivalry between traditional dealers and the electric-vehicle maker.

Tesla is "either one of the great Ponzi schemes of all time or it��s gonna work out," AutoNation CEO Mike Jackson said at a forum presented ahead of the�ahead of the New York Auto Show by the National Automobile Dealers Association and consultants�the�J.D.�Power.

His comments came a day after Tesla briefly passed General Motors as the most valuable American automaker, as measured by market capitalization.

"Clearly�General Motors is undervalued and Tesla is overvalued," Jackson said. "Anybody can see that."

The typically brash CEO's remarks came amid a stock rally for Tesla, which is riding high amid signs that its mass-market Model 3 electric car may be on track to begin sales in 2017.

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Hot Undervalued Stocks To Invest In 2019: ChannelAdvisor Corporation(ECOM )

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  ChannelAdvisor (NYSE: ECOM) and Tyler Technologies (NYSE:TYL) are both computer and technology companies, but which is the superior stock? We will compare the two businesses based on the strength of their earnings, analyst recommendations, valuation, risk, dividends, institutional ownership and profitability.

Hot Undervalued Stocks To Invest In 2019: SINOPEC Shangai Petrochemical Company Ltd.(SHI)

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  Shanghai Petrochemical (NYSE: SHI) and Eastman Chemical (NYSE:EMN) are both basic materials companies, but which is the superior stock? We will contrast the two businesses based on the strength of their risk, earnings, dividends, analyst recommendations, institutional ownership, valuation and profitability.

Hot Undervalued Stocks To Invest In 2019: Espey Mfg. & Electronics Corp.(ESP)

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  Espers (CURRENCY:ESP) traded up 5.2% against the US dollar during the one day period ending at 7:00 AM Eastern on May 28th. Espers has a market capitalization of $6.27 million and approximately $8,492.00 worth of Espers was traded on exchanges in the last 24 hours. One Espers coin can now be bought for about $0.0003 or 0.00000004 BTC on cryptocurrency exchanges including Livecoin and CoinExchange. During the last seven days, Espers has traded down 26.2% against the US dollar.

Hot Undervalued Stocks To Invest In 2019: Dillard's, Inc.(DDS)

Advisors' Opinion:

• [By Adam Levine-Weinberg]

  A day later, Macy's smaller rival Dillard's (NYSE:DDS) followed with its own solid earnings report. The better-than-expected results and a recent analyst upgrade have helped power a roughly 13% rally in Dillard's stock over the past week.

• [By Lisa Levin] Companies Reporting Before The Bell Walmart Inc. (NYSE: WMT) is estimated to report quarterly earnings at $1.13 per share on revenue of $120.51 billion. J. C. Penney Company, Inc. (NYSE: JCP) is expected to report quarterly loss at $0.2 per share on revenue of $2.63 billion. Dillard's, Inc. (NYSE: DDS) is projected to report quarterly earnings at $2.77 per share on revenue of $1.46 billion. The Children's Place, Inc. (NASDAQ: PLCE) is estimated to report quarterly earnings at $2.21 per share on revenue of $444.14 million. Manchester United plc (NYSE: MANU) is expected to report quarterly loss at $1.35 per share on revenue of $193.67 million. Teekay Corporation (NYSE: TK) is estimated to report quarterly loss at $0.08 per share on revenue of $296.76 million. KEMET Corporation (NYSE: KEM) is projected to report quarterly earnings at $0.41 per share on revenue of $306.72 million. Vascular Biogenics Ltd. (NASDAQ: VBLT) is estimated to report a quarterly loss at $0.21 per share. Teekay Offshore Partners L.P. (NYSE: TOO) is expected to report quarterly earnings at $0.04 per share on revenue of $272.04 million. Albireo Pharma, Inc. (NASDAQ: ALBO) is expected to report quarterly earnings at $1.77 per share on revenue of $31.32 million.

   

• [By Lisa Levin] Gainers SenesTech, Inc. (NASDAQ: SNES) shares jumped 113.5 percent to $0.6737 after the California Department of Pesticide Regulation proposed to register the company's ContraPest for sale and use in California. AgEagle Aerial Systems, Inc. (NASDAQ: UAVS) shares rose 35.34 percent to close at $3.32. Art's-Way Manufacturing Co., Inc. (NASDAQ: ARTW) shares gained 30.36 percent to $3.65. Xtant Medical Holdings, Inc. (NYSE: XTNT) shares jumped 25.6 percent to $7.4701 after the company disclosed that it has received the FDA clearance for InTice™-C Porous Titanium Cervical Interbody System. VAALCO Energy, Inc. (NYSE: EGY) shares surged 20 percent to $2.495. TransGlobe Energy Corporation (NASDAQ: TGA) surged 17.04 percent to $2.61. Boxlight Corporation (NASDAQ: BOXL) gained 15 percent to $8.32 after the company announced an exclusive partnership with Multi Touch Interactives to strengthen the development of next generation interactive educational activities. Arcimoto, Inc. (NASDAQ: FUV) gained 15 percent to $3.39. MB Financial, Inc. (NASDAQ: MBFI) rose 13.7 percent to $49.64. Fifth Third Bancorp (NASDAQ: FITB) agreed to acquire MB Financial for $54.70 per share in cash and stock. FRONTEO, Inc. (NASDAQ: FTEO) shares rose 11.8 percent to $20.956. TransEnterix, Inc. (NYSE: TRXC) shares jumped 11.1 percent to $3.38. 21Vianet Group, Inc. (NASDAQ: VNET) rose 10.6 percent to $7.41. NII Holdings, Inc. (NASDAQ: NIHD) shares gained 9 percent to $2.32. Kelly Services, Inc. (NASDAQ: KELYA) rose 7.6 percent to $24.19. Northcoast Research upgraded Kelly Services from Neutral to Buy. LaSalle Hotel Properties (NYSE: LHO) shares climbed 5.6 percent to $33.70. Blackstone Group LP (NYSE: BX) will buy LaSalle Hotel Properties in a $4.8 billion deal, Bloomberg reported. Alteryx, Inc. (NYSE: AYX) gained 5.5 percent to $32.56. KeyBanc upgraded Alteryx from Sector Weight to Overweight. Energizer Holdings, Inc. (NYSE:

Ebix Inc (EBIX) Given Consensus Rating of “Buy” by Analysts

Shares of Ebix Inc (NASDAQ:EBIX) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $100.00.

Several research firms have recently issued reports on EBIX. BidaskClub lowered shares of Ebix from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine upgraded shares of Ebix from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Ebix from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Tuesday, March 6th.

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A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Ebix by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 183,471 shares of the technology company’s stock valued at $13,669,000 after buying an additional 4,734 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Ebix during the 1st quarter valued at about $1,318,000. CIBC World Markets Inc. bought a new stake in Ebix during the 1st quarter valued at about $1,989,000. Xact Kapitalforvaltning AB bought a new stake in Ebix during the 1st quarter valued at about $236,000. Finally, Royal Bank of Canada lifted its holdings in Ebix by 1,315.1% during the 1st quarter. Royal Bank of Canada now owns 105,880 shares of the technology company’s stock valued at $7,888,000 after buying an additional 98,398 shares in the last quarter. Institutional investors own 66.07% of the company’s stock.

Ebix opened at $75.30 on Friday, MarketBeat reports. The stock has a market capitalization of $2.38 billion, a PE ratio of 23.75, a PEG ratio of 1.94 and a beta of 1.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.83. Ebix has a 12-month low of $52.80 and a 12-month high of $87.50.

Ebix (NASDAQ:EBIX) last released its earnings results on Wednesday, May 9th. The technology company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.03). The firm had revenue of $108.23 million during the quarter, compared to the consensus estimate of $106.81 million. Ebix had a return on equity of 19.54% and a net margin of 25.54%. The business’s revenue was up 36.8% on a year-over-year basis. research analysts forecast that Ebix will post 3.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, May 30th. This represents a $0.30 dividend on an annualized basis and a yield of 0.40%. Ebix’s payout ratio is 9.46%.

About Ebix

Ebix, Inc provides software and e-commerce solutions to insurance, finance, and healthcare industries. It offers software development, customization, and consulting services to various entities in the insurance industry, including carriers, brokers, exchanges, and standard making bodies. The company operates data exchanges in the areas of life insurance, annuities, employee health benefits, risk management, workers compensation, insurance underwriting, and property and casualty (P&C) insurance.

Powell Sees Significantly Smaller Role for Fed Forward Guidance

The Federal Reserve’s days of pledging lower-for-longer rate policy may be drawing toward a close.

“Forward guidance was highly useful in the crisis,” Fed Chairman Jerome Powell said Friday, speaking on a panel at the Riksbank’s 350th anniversary conference in Stockholm. “I think it will have a significantly smaller role going forward.”

Some Fed policy makers think forward-looking language in the central bank’s statement will soon be dated, based on the minutes from the Federal Open Market Committee’s March and May meetings. John Williams, who becomes president of the New York Fed on June 18, has talked about the fact that forward guidance might be "past its shelf life." Against that backdrop, Powell’s comments reinforce expectations that Fed communications may be headed for a change.

“When forward guidance came around, the whole point of getting the market signal is that there’s independent content in that signal,” Powell said. “If the market’s really signaling that it understands what it thinks we’re doing, then you’ve lost the content of the signal.”

Based on the minutes, two lines in the Federal Open Market Committee’s statement could get updated as rates rise toward more normal levels. One states that the “federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run” and the other says “the stance of monetary policy remains accommodative.”

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Universal Display (OLED) Research Coverage Started at Roth Capital

Roth Capital initiated coverage on shares of Universal Display (NASDAQ:OLED) in a report published on Monday morning, MarketBeat reports. The firm issued a buy rating and a $136.00 price objective on the semiconductor company’s stock.

Several other research firms have also commented on OLED. Deutsche Bank reiterated a buy rating and set a $190.00 price objective on shares of Universal Display in a research note on Thursday, January 25th. Zacks Investment Research lowered shares of Universal Display from a buy rating to a hold rating in a research note on Saturday, January 27th. BidaskClub lowered shares of Universal Display from a hold rating to a sell rating in a research note on Friday, January 26th. Cowen set a $225.00 price objective on shares of Universal Display and gave the stock a buy rating in a research note on Tuesday, February 20th. Finally, Needham & Company LLC upgraded shares of Universal Display from a hold rating to a buy rating and set a $180.00 price objective for the company in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $174.36.

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NASDAQ OLED opened at $97.10 on Monday. The company has a market cap of $4.54 billion, a P/E ratio of 39.96 and a beta of 1.33. Universal Display has a 52 week low of $86.85 and a 52 week high of $209.00.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 3rd. The semiconductor company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $43.57 million during the quarter, compared to analyst estimates of $50.85 million. Universal Display had a net margin of 30.74% and a return on equity of 17.53%. Universal Display’s revenue was down 21.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. analysts forecast that Universal Display will post 1.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, June 14th. Universal Display’s dividend payout ratio is presently 9.88%.

In other Universal Display news, Director Richard C. Elias sold 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total transaction of $291,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Elizabeth H. Gemmill sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $124.07, for a total transaction of $310,175.00. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC grew its position in Universal Display by 1.8% during the 4th quarter. LPL Financial LLC now owns 18,128 shares of the semiconductor company’s stock worth $3,130,000 after purchasing an additional 324 shares during the last quarter. Alps Advisors Inc. grew its position in Universal Display by 9.8% during the 4th quarter. Alps Advisors Inc. now owns 3,900 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 347 shares during the last quarter. Eqis Capital Management Inc. grew its position in Universal Display by 9.0% during the 4th quarter. Eqis Capital Management Inc. now owns 4,291 shares of the semiconductor company’s stock worth $741,000 after purchasing an additional 353 shares during the last quarter. Glassman Wealth Services grew its position in Universal Display by 60.7% during the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 363 shares during the last quarter. Finally, Hanseatic Management Services Inc. grew its position in Universal Display by 14.7% during the 4th quarter. Hanseatic Management Services Inc. now owns 2,865 shares of the semiconductor company’s stock worth $495,000 after purchasing an additional 368 shares during the last quarter. 65.34% of the stock is currently owned by institutional investors.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.