• EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 31/05/20
    FX Empire

    EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 31/05/20

    It’s a mixed start to the day for the majors. Avoiding key levels through the morning would bring resistance levels into play, however.

  • The Crypto Daily – Movers and Shakers -31/05/20
    FX Empire

    The Crypto Daily – Movers and Shakers -31/05/20

    It’s a bearish start to the day as investors lock in Saturday’s gains. A Bitcoin move through to $9,800 would signal another breakout.

  • EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 30/05/20
    FX Empire

    EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 30/05/20

    It’s a bearish start to the day for the majors. Failure to move through key levels will bring support levels into play.

  • The Crypto Daily – Movers and Shakers -30/05/20
    FX Empire

    The Crypto Daily – Movers and Shakers -30/05/20

    It’s a bearish start to the day, with Bitcoin needing to move back through to $9,470 levels to support the pack.

  • Hedge Funds Are Cashing Out Of Martin Marietta Materials, Inc. (MLM)
    Insider Monkey

    Hedge Funds Are Cashing Out Of Martin Marietta Materials, Inc. (MLM)

    The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]

  • J.P. Morgan Says These Are the 3 Stocks to Buy
    TipRanks

    J.P. Morgan Says These Are the 3 Stocks to Buy

    Stepping back, and taking a macro look at the markets, JPMorgan strategist Marko Kolanovic believes that the risks posed by COVID-19 to public health and economic prosperity were badly overstated back in March, leading to a series of frankly wrong decisions that we are still feeling now. But now, the economy is starting to improve, and the current bear market’s bull rally is looking more and more like a sustained trend rather than a one-off event.However, Kolanovic acknowledges several large-scale risks. He points out that California and New York are the largest economic units in the US, and that the coronavirus pandemic has had an important – and negative – impact on ‘global cooperation and trade.’ Kolanovic writes, “We will closely monitor how these risks evolve, but at this point see them as potential tail risks rather than an imminent threat, and thus maintain our positive outlook on markets.”That positive outlook on the markets includes pointing out promising stocks. JPMorgan analysts have been noting a number of bullish stock moves — companies that are well-positioned to make gains in coming months. We’ve looked at three of those stocks through the lens of the TipRanks database, to find out what makes them compelling buys.Bilibili, Inc. (BILI)Up first is a Chinese internet video sharing website focusing on anime and comics and including a large Japanese audience – while for business purposes, traded in New York. Bilibili is a truly international company that has found a niche and levered it for growth. Since it started trading three years ago, this stock has seen considerable growth, tripling its share value in that time. In the months since the February market collapse, BILI has heavily outperformed the markets.Bili’s financial stats back this up. While the company operates at a net loss, the strong positives recorded in Q1 2020 included: 69% year-over-year revenue growth, to $327 million; an increase in average monthly users to 172.4 million, up 70% year-over-year (yoy); and an increase in daily active users to 50.8 million, up 69% yoy. The most impressive stat, however, is the increase in monthly paying users – a key metric. This rose to 13.4 million, for a 134% yoy increase.With positives like those, it’s no wonder that BILI is getting lots of love from Wall Street’s analysts. JPM analyst Alex Yao upgraded this stock from Neutral to Buy after the earnings report. His price target, which he raised to $42, indicates confidence in a 37% upside for the coming year. (To watch Yao’s track record, click here)In his comments, Yao wrote, “…it was the steady or even improving engagement metrics (i.e. DAU/MAU ratio, average daily time spend, etc.), in spite of the strong user growth, which makes us believe strong user growth remains achievable in the next 1-2 years, as a virtuous cycle between content and user base has been formed and reinforced by COVID-19. We expect seasonal user growth momentum (i.e. 3Q/1Q) to drive further share price upside.”Based on all the above factors, Wall Street analysts are thoroughly impressed with BILI. It boasts 100% Street support, or 7 Buy ratings in the last three months, making the consensus a Strong Buy. The $36.25 average price target implies that shares could surge 18% in the next twelve months. (See Bilibili stock analysis on TipRanks)Wyndham Destinations (WYND)Next up is Wyndham Destinations, a major operator of hotel brands and vacation ownership timesharing programs. Wyndham’s destinations are located in North America and the Caribbean, along with the South Pacific. As state begin to loosen economic restrictions, Wyndham expects to see a gain in activity; it’s North American locations will not be dependent on air travel to attract customers.With so much of the country under lockdown orders in Q1, WYND shares felt the pain. The stock is still down 37% year-to-date, severely underperforming the broader markets. Q1 earnings were grim, well below expectations at a 98-cent net loss.And yet, with all that, WYND shares are looking up. The company has announced that it will be reopening its resorts in 2H20, and expects that the corona lockdowns will have generated pent-up demand. With most of its American properties within driving distance of potential customers, Wyndham expects it can sell its destinations as compatible with social distancing rules. And finally, the company reported this month that it is sitting on $1 billion is cash reserves, and as access to an additional $342 million through a credit facility. With that kind of money available, Wyndham has said that it can continue operating for another 23 months.As a further gesture for investors, WYND will continue paying its 50-cent quarterly dividend. The dividend has been increased steadily over the past 2 years, and now at $2 annualized it offers an excellent yield of nearly 6.3%. Considering that the average yield among hospitality and services companies is only 1.37%, WYND’s yield is impressive.Joseph Greff, one of JPM’s 5-star analysts, is optimistic. He says of WYND shares, “We see WYND’s risk-reward as favorable given the potential for relatively attractive near-term leisure demand that is not reliant on air travel and that is offered at an affordable price point. We think WYND’s current bookings position is underappreciated with its second half 2020…”Greff shifts his view on WYND from Neutral to Buy, and sets a price target of $35. This suggests that he sees 10% upside growth in the stock’s future. (To watch Greff’s track record, click here)Wyndham has a Strong Buy analyst consensus rating, based on a 7 to 1 Buy-Hold split. Shares are selling for $31.94, and the $39.86 average price target indicates room for an upside of 25% in the coming 12 months. (See WYND stock analysis on TipRanks)Martin Marietta Materials (MLM)A commercial economy outgrowth of the old defense giant by the same name, the modern Martin Marietta company lives in the heavy construction niche, providing cement and other aggregate building materials for commercial and municipal purposes. The company’s products are common in roads and sidewalks – there is a strong chance that you have walked on them.MLM was hit hard by the Q1 economic shutdowns. The cessation or slow down of construction work reduced demand for MLM products, and the company reported sharp sequential declines in earnings. There were some bright spots, however. EPS remained positive, at 41 cents per share. Revenue was slightly up year-over-year, to $958.2 million. And the company reported strong gains in cash on hand, from $21 million at the end of 2019 to $424 million as of the end of Q1 2020. And best of all for investors, MLM projects Q2 earnings of $2.78 per shares, getting close to pre-corona levels.Martin is our third upgrade from JPM. Analyst Adrian Huerta raised his stance from Neutral to Buy, and set a $210 price target that indicates 9% upside growth potential for the year. (To watch Huerta’s track record, click here)Supporting his move, Huerta writes, “We see attractive upside at least in the short-term as 2Q will likely not be as bad as previously expected... Also, as the trade war with China intensifies, we see increased interest on domestic driven sectors like this one.”With 7 Buy and 5 Hold ratings, the analyst consensus on Martin Marietta Materials is more evenly divided than the other stocks on this list. MLM shares are currently selling for $194.28, while the average price target of $222.92 suggests a one-year upside potential of 15%. (See Martin Marietta stock analysis on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • USD/CAD Daily Forecast – Canadian Dollar Loses Ground Ahead Of The Weekend
    FX Empire

    USD/CAD Daily Forecast – Canadian Dollar Loses Ground Ahead Of The Weekend

    USD/CAD failed to settle below 1.3730 and returned back to 1.3800.

  • Will Martin Marietta Materials (MLM) Emerge Stronger From the COVID-19 Crisis
    Insider Monkey

    Will Martin Marietta Materials (MLM) Emerge Stronger From the COVID-19 Crisis

    First Eagle Investment Management recently released its Q1 2020 Investor Letter, a copy of which you can download below. The First Eagle Fund of America posted a return of -23.72% for the quarter (without sales charge), underperforming its benchmark, the S&P 500 Index which returned -19.60% in the same quarter. You should check out First […]

  • SatoshiPay raises $550K via convertible loan from Stellar Development Foundation
    The Block

    SatoshiPay raises $550K via convertible loan from Stellar Development Foundation

    Blockchain payments startup SatoshiPay has raised $550,000 via a convertible loan from the Stellar Development Foundation (SDF).The post SatoshiPay raises $550K via convertible loan from Stellar Development Foundation appeared first on The Block.

  • Latest Bitcoin price and analysis (BTC to USD)
    Coin Rivet

    Latest Bitcoin price and analysis (BTC to USD)

    Bitcoin is lining up a third major attempt at breaking out above $10,000 ahead of the expiry of the CME's Bitcoin futures contract. The expiry of the contract will see 50% of open interest also expire, which is expected to cause volatile swings in the price of Bitcoin at the start of next week. During the first week of May the CME reported that open interest for its Bitcoin contract had hit an all-time high after it recovered from the gruelling sell-off in March. At the time of writing Bitcoin is trading at $9,400 after falling slightly from this morning's high at $9,623. Moving forwards if Bitcoin can continue to trade above $8,830 and $9,200 in the short term it

  • Bitcoin’s intrinsic value is now in line with its market price, says JPMorgan strategist
    The Block

    Bitcoin’s intrinsic value is now in line with its market price, says JPMorgan strategist

    Bitcoin’s intrinsic value, or the fundamental value, is now in line with its market value, according to JPMorgan strategist Nikolaos Panigirtzoglou.The post Bitcoin's intrinsic value is now in line with its market price, says JPMorgan strategist appeared first on The Block.

  • EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 29/05/20
    FX Empire

    EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 29/05/20

    It’s a mixed start to the day for the majors. A move back through early highs would support another crypto breakout…

  • The Crypto Daily – Movers and Shakers -29/05/20
    FX Empire

    The Crypto Daily – Movers and Shakers -29/05/20

    It’s a mixed start to the day for Bitcoin. A move back through to $9,600 levels would be needed to support another crypto rally…

  • Economic Data to Take a Back Seat with Trump’s News Conference the Main Event
    FX Empire

    Economic Data to Take a Back Seat with Trump’s News Conference the Main Event

    While the economic calendar is on the busier side, Trump’s news conference will be the main event, which is testing risk sentiment early on.

  • Canadian dollar lags G10 currencies as investors dread GDP data
    Reuters

    Canadian dollar lags G10 currencies as investors dread GDP data

    The Canadian dollar was the only G10 currency to lose ground against the greenback on Thursday as data showed a widening in Canada's current account deficit and ahead of data that was expected to show a slump in Canada's economy. "It has come a long way," said Mark Chandler, head of Canadian fixed income and currency strategy at RBC Capital Markets.

  • Bitcoin miner maker Canaan to issue $12.4 million worth of shares in employee benefit plan
    The Block

    Bitcoin miner maker Canaan to issue $12.4 million worth of shares in employee benefit plan

    Nasdaq-listed bitcoin miner manufacturer Canaan is set to issue $12.4 million worth of shares in employee benefit plan.The post Bitcoin miner maker Canaan to issue $12.4 million worth of shares in employee benefit plan appeared first on The Block.

  • A new actively managed bitcoin hedge fund gets launched in Hong Kong
    The Block

    A new actively managed bitcoin hedge fund gets launched in Hong Kong

    Hong Kong-based crypto asset manager MaiCapital has launched a new actively managed bitcoin hedge fund for professional investors.The post A new actively managed bitcoin hedge fund gets launched in Hong Kong appeared first on The Block.

  • Latest Ethereum price and analysis (ETH to USD)
    Coin Rivet

    Latest Ethereum price and analysis (ETH to USD)

    Ethereum has continued to follow the seemingly uncertain path of Bitcoin this week as it consolidates above a key psychological level of support before the typically low volume weekend. In Ethereum's case it is hovering above the $200 level exactly one month after it broke out and surged towards the $219 level of resistance. The period of consolidation demonstrates a bullish bias at present, although a break down from $200 would almost certainly lead to an initial correction to $177 with $151 being the next level of support below that. With volume having dropped off significantly this month while price has remained fairly stable it indicates that a major move is coming within the next fortnight. From a macro perspective

  • U.S Weekly Jobless Claims to Put the Greenback in Focus as Geopolitical Risk Lingers
    FX Empire

    U.S Weekly Jobless Claims to Put the Greenback in Focus as Geopolitical Risk Lingers

    The U.S Dollar is in action later today, with the weekly jobless claims and durable goods orders in focus. There’s also Trump and Beijing to consider.

  • Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 28/05/20
    FX Empire

    Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 28/05/20

    It’s a bearish start to the day, with a move through key levels needed by late morning to avoid testing support levels.

  • EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 28/05/20
    FX Empire

    EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 28/05/20

    It’s a bearish start to the day for the majors. Failure to avoid key levels will bring support levels into play later in the day.

  • Goldman Sachs says bitcoin is not a viable investment for client portfolios
    The Block

    Goldman Sachs says bitcoin is not a viable investment for client portfolios

    Goldman Sachs analysts are not buying the idea that bitcoin — or any cryptocurrency — should be seen as a worthwhile investment for the firm's clients. During a client-facing call on Wednesday, the investment bank presented a case that cryptocurrency is not a viable investment vehicle under the current economic environment.  "Cryptocurrencies including bitcoin are […]The post Goldman Sachs says bitcoin is not a viable investment for client portfolios appeared first on The Block.