5.06k followers • 4 symbols Watchlist by Yahoo Finance
Follow this list to discover and track stocks that have been overbought as indicated by the RSI momentum indicator within the last week. A stock is overbought when the RSI is above 70. This list is generated daily, ranked based on market cap and limited to the top 30 stocks that meet the criteria.
Energy Transfer LP (ET) closed at $6.44 in the latest trading session, marking a +1.58% move from the prior day.
A federal judge rejected a request from the operator of the Dakota Access Pipeline to halt an order to shut down the oil pipeline during a lengthy environmental review. U.S. District Judge James Boasberg denied the company’s request Thursday, effectively sending the case to a panel of judges on the U.S. Court of Appeals for the District of Columbia Circuit. Boasberg on Monday ordered the pipeline shut down by Aug. 5 for an additional environmental assessment more than three years after it began pumping oil.
The case incidence of coronavirus is rising, raising fears that the initial economic reopenings were too much, too soon, and too fast. Adding to the nervous outlook, the White House has let it be known that it will seek a cap on future economic stimulus packages at $1 trillion. Considering that the last round of stimulus was upwards of $3 trillion, seeking to cap it at one-third that amount – at least party in the name of deficit control – sounds like a case of closing the barn door after the horses have bolted. It’s one more signal in a growing round of confusion.At least some signals, however, are coming through loud and clear. Another signal is coming through from Wall Street’s analysts: There are still plenty of stocks to buy, with strong prospects to survive the corona crisis – and to do it with plenty of upside share potential. We’ve used the TipRanks database to pull the details on three of these lesser-known, buy-rated stocks. Let’s find out what the analysts have to say about them.Azek Company, Inc. (AZEK)We’ll start with a company in the construction industry. Azek inhabits a niche that is going to do well as ‘social distancing’ becomes the norm. The company makes decking, patio, and outdoor products. With summer here, and indoor gatherings highly proscribed, the company took a calculated risk.Azek went public in mid-June. The IPO was a big one, raising over $765 million despite the pandemic, and shares have gained in the weeks since. AZEK is up 15% since starting on the NYSE exchange. While the stock is impressive, there are some cautionary signs. Azek is highly leveraged, with over $1.2 billion in debt, nearly 25% of the company’s $4.5 billion total market cap. It’s clear that Azek is betting heavy on several factors: the V-shaped recovery, people’s desire to get together – safely, and that backyard recreational activities will be a winner this year.Is that a good bet? Analyst Alex Rygiel of B. Riley FBR clearly thinks so. The analyst writes of Azek, “…we believe AZEK could experience industry-leading margin expansion over the next three years. We also believe the recent COVID-19 environment with stay-at-home and social distancing orders could create a tailwind for AZEK and the overall decking industry as more homeowners looks to expand their livable space outdoors and with the possible suburbanization of the population.”Against this backdrop, Rygiel initiated coverage on AZEK shares with a Buy rating and a $38 price target, which implies room for 22% upside growth this year. (To watch Rygiel’s track record, click here)Overall, AZEK gets a Moderate Buy from the Wall Street analyst consensus. The stock has received 15 reviews in recent weeks, breaking down 10 to 5 in Buys versus Holds. Shares are currently trading for $31.1, and the average price target of $35.50 suggests a 14% one-year upside potential. (See Azek stock analysis on TipRanks)Ambarella (AMBA)Now we move to the tech industry, where Ambarella is a small-cap design company in the semiconductor chip sector’s fabless segment. That’s a fancy way of saying that the company designs its chips, makes the prototypes, and farms out the mass production. Ambarella focuses on video compression, computer vision processors, and video compression – all important uses as companies and workers move heavily toward telecommuting. Ambarella’s chips also have applications in the video security monitoring and autonomous vehicle niches.Ambarella saw sluggish earnings in 1H20, as the COVID-19 pandemic impacted supply chains, manufacturing facilities, and sales. That said, the company has found some tailwinds. Video AI and computer vision are growing segments, and the company has a solid position in both. While earnings were down, revenues in Q1 beat the forecast, coming in at $54.6 million. Ambarella also has plenty of liquidity to combat the pandemic’s economic impact; the company finished Q1 with $411 million in cash on hand, up from $405 million at the end of 2019, and the free cash flow generated a healthy $7.6 million.It’s the sector outlook, however, that attracted attention form Needham’s Quinn Bolton. The 5-star analyst, rated 8 overall in TipRanks’ database, likes what he sees in Ambarella, and upgraded his stance to Buy based on the strength of the Computer Vision segment. “…we believe CV design activity remains robust. Professional security camera design wins represent the first wave of the CV production ramp and should drive CV revenue to ~10% of revenue in FY21 (CY20). The second CV wave, driven by the consumer security camera market, is expected to start in CY21 while the third CV wave, driven by Auto applications, is expected in CY22 and beyond,” Bolton commented. Bolton backs his new Buy rating with $55 price target, indicating a 14% upside potential in the next 12 months. (To watch Bolton’s track record, click here)Overall, the analyst consensus on AMBA is a Moderate Buy, based on a mix of reviews: 5 Buys, 4 Holds, and a single Sell. The shares have an average price target of $57.78, which implies a healthy 20% upside from the current trading price of $48.21. (See Ambarella stock analysis on TipRanks)Arthur J. Gallagher & Company (AJG)Last on our list is an $18 billion global insurance broker and risk management firm, Arthur J. Gallagher. The company, based in the Chicago area, has a worldwide presence and is notable for being selected nine years running as one of the world’s most ethical companies.As an insurance company, with a reputation for ethical behavior, Gallagher was particularly well-positioned to gain during the coronavirus pandemic scare. The company saw Q1 earnings of $1.83 per share, well above the $1.74 expectation, and also up 215% sequentially. Deutsche Bank’s Phil Stefano sees AJG in position to continue growing, and upgrades his rating on the stock to a Buy. Supporting this, he writes, “We believe our margin expectation for Brokerage drives our Street high EPS estimates for the remainder of 2020 and 2021, with investors not fully appreciating the magnitude of the expense benefit impact to margins.”Stefano’s price target backs up his Buy rating; at $120, it implies a 21% upside potential for the stock. (To watch Stefano’s track record, click here)All in all, AJG has eight recent stock reviews, including 6 Buys and 2 Holds, giving the stock a consensus rating of Strong Buy. The stock is selling for $99.14, and the average price target of $108.38 indicates a possible 9% upside this year. (See AJG stock-price forecast 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.
Oil infrastructure giant Energy Transfer (NYSE: ET), which operates the controversial Dakota Access Pipeline, is vowing not to shut down the major crude artery in spite of a court order. On Monday, July 6, U.S. District Court Judge James Boasberg issued a ruling that the pipeline would have to shut down by August 5 for a thorough environmental review, which could take up to 13 months. On Wednesday, Bloomberg quoted Energy Transfer spokeswoman Vicki Granado as stating bluntly in an email, "We are not shutting down the line."
How do you pick the next stock to invest in? One way would be to spend days of research browsing through thousands of publicly traded companies. However, an easier way is to look at the stocks that smart money investors are collectively bullish on. Hedge funds and other institutional investors usually invest large amounts of […]
Investors need to pay close attention to Energy Transfer (ET) stock based on the movements in the options market lately.
A federal judge denied an emergency request by owners of the Dakota Access oil pipeline (DAPL) for the court to reconsider its order to shut and drain the 570,000 barrel-a-day line within a month, court records showed on Tuesday. The pipeline, operated by Energy Transfer, is the largest out of the Bakken shale region in North Dakota, one of the biggest oil producing patches in the United States. Without the pipeline, the region's production capacity will be constrained.
Pipeline giant Energy Transfer (NYSE: ET) got another dose of bad news this week. A U.S. district court judge ordered the company to temporarily shut down and drain its Dakota Access Pipeline (DAPL) by August 5th, pending the outcome of an environmental review. The news sent shares of Energy Transfer and the pipeline's other investors into a tailspin.
The AZEK Company ("AZEK"), an industry-leading manufacturer of beautiful, low-maintenance residential and commercial building products, announced today the debut of its new marketing campaign, "Better Tech, Better Deck." Motivated by the technological superiority and design versatility of its TimberTech building products, the campaign is meant to inspire homeowners looking to build, renovate and remodel this summer season.
Energy Transfer (ET) is instructed by the court to dissolve operations at its Dakota Access oil pipeline within a month.
Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Energy Transfer LP ("Energy Transfer" or "the Company") (NYSE: ET). Investors who purchased Energy Transfer securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/et.
A judge on Monday ordered the Dakota Access pipeline shut down for additional environmental review more than three years after it began pumping oil — handing a victory to the Standing Rock Sioux Tribe and delivering a blow to President Donald Trump’s efforts to weaken public health and environmental protections it views as obstacles to businesses.
What happened Pipeline stocks are getting pulverized today. Several were down more than 10% by 12:30 p.m. EDT on Monday, including Energy Transfer (NYSE: ET), Phillips 66 Partners (NYSE: PSXP), ONEOK (NYSE: OKE), and Crestwood Equity Partners (NYSE: CEQP).
A U.S. court ordered the shutdown of the Dakota Access oil pipeline on Monday over concerns about its potential environmental impact, a big win for the Native American tribes and green groups who fought the major pipeline's route across a crucial water supply for years. The decision by U.S. District Court for the District of Columbia followed the cancellation of another high-profile U.S. pipeline project on Sunday and came as a blow to the Trump administration's efforts to lift the domestic fossil fuels industry by rolling back environmental red tape. According to the ruling, the U.S. Army Corps of Engineers violated the National Environmental Policy Act (NEPA) when it granted an easement to Energy Transfer LP <ET.N> to construct and operate a segment of the oil pipeline beneath Lake Oahe in South Dakota, because they failed to produce an adequate Environmental Impact Statement (EIS).
Financial troubles among oil and gas producers generally -- and those of one large customer in particular -- weighed on the pipeline giant.
U.S. pipeline company Energy Transfer <ET.N> has taken the rare step of invoking force majeure - normally used in times of war or natural disaster - to prevent oil firms from walking away from a proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter. Energy Transfer wants to nearly double the size of the line, and some companies that signed up say it is no longer necessary due to the sharp fall in U.S. oil production after the coronavirus pandemic. DAPL is the largest pipeline running out of North Dakota's Bakken shale basin.
U.S. pipeline company Energy Transfer has taken the rare step of invoking force majeure - normally used in times of war or natural disaster - to prevent oil firms from walking away from a proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter. Energy Transfer wants to nearly double the size of the line, and some companies that signed up say it is no longer necessary due to the sharp fall in U.S. oil production after the coronavirus pandemic. DAPL is the largest pipeline running out of North Dakota's Bakken shale basin.
Energy stocks are still treated like pariahs as the world continues to grapple with the disastrous effects of the novel coronavirus. Although Energy Transfer (NYSE:ET) stock hasn't recovered a lot of lost ground, long-term prospects for the energy giant remain excellent.Source: Casimiro PT / Shutterstock.com The midstream company has enough funds to cover its attractive payouts, even though the management is not putting the brakes on pursuing growth. Its cheap valuation, strong dividend yield, and healthier free cash flows convince me ET stock is in fine stead for the future. Dividend Yield Is the Best Among Its Peer GroupWith a dividend yield of 16.1%, Energy Transfer is far and above the leader in its peer group. Although there is concern regarding whether or not the company can maintain this dividend in the current environment, I find those fears unfounded. Free cash flows did fall in the first quarter, but that's understandable. At a time when oil prices are so low, you wouldn't expect operating cash flows to rise sequentially.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Consumer Stocks to Buy to Ride the Post-Covid-19 WaveAnd while there is a lot of talk on pent-up demand that will unleash in the next couple of months, the truth is that all signs point to a slow recovery. Oil demand in India and China rebounded from record lows during the lockdown. But they are still substantially down from levels before the crisis.Meanwhile, OPEC+ and Russia remain at loggerheads on production cuts, further depressing prices.Then why didn't Energy Transfer report lackluster earnings in the first quarter? Well, the answer lies in the fact that a majority of its income is fee-based. As oil prices continue to recover, the portion dependent on oil demand will rise as well. Due to its earnings mix, I don't foresee a sharp decline in cash flow or profitability in the forthcoming quarters. Debt Is High, But Not Out of ControlLiquidity is a key issue for every energy company at this point since we don't know when energy demand will bounce back to pre-pandemic levels.At the end of the first quarter, Energy Transfer had long-term debt of $50.3 billion, down by $0.7 billion sequentially. Despite that, the company is the most indebted within its peer group.Source: Chart by Faizan Farooque, data sourced from filings However, the company is actively slashing operating expenses and capital expenditures, which should free a considerable amount of cash it can use to deleverage. ET expects to generate between $11 billion and $11.4 billion of adjusted EBITDA this year. It is also committed to maintaining a debt-EBITDA ratio of 4 to 4.5. If you combine those two factors, we can hope to see a sizeable deduction in debt this year. A Second Wave Will Be a Sizable Roadblock for ET StockSeveral U.S. states have reopened as Covid-19 linked fatality rates continue to fall. That's a good sign for the economy, but experts are warning that a second wave of the pandemic could be imminent if we don't take greater caution.Share prices have made a lot of ground in the past three months. But all that could go down the drain if we have another wave of cases. Final Word on ET StockEnergy Transfer weathered troubled waters ably and is well-positioned to ride out this crisis. Although the company's free cash flows fell sequentially in the first quarter, I expect it to mount a recovery in the forthcoming quarters.Looking ahead, Energy Transfer is looking to spend approximately $2 billion annually on future projects. At a time when most companies have suspended their capex programs completely, Energy Transfer is looking to go down a different route.Meanwhile, the company's dividend yield is attractive and is the best among its peers. It has the resources to maintain its distributions but can also slash its dividend to pay down debt. Shares are also attractively priced, trading at a price-earnings ratio of 11 times, a 16.9% discount to the sector.I am bullish on ET stock. Retain the stock if you have it in your portfolio. If not, then buying a small stake will not hurt.Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. He has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. He does not directly own the securities mentioned above. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * America's 1 Stock Picker Reveals His Next 1,000% Winner * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * Radical New Battery Could Dismantle Oil Markets The post Energy Transfer's Steady Approach Will Pay Dividends appeared first on InvestorPlace.
The following is a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks (Biotech Stocks Hitting 52-week Highs June 24) * ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) * BioXcel Therapeutics Inc (NASDAQ: BTAI) * Brainstorm Cell Therapeutics Inc (NASDAQ: BCLI) (announced new clinical program focused on the development of NurOwn as a treatment for Alzheimer's disease) * Burning Rock Biotech Ltd (NASDAQ: BNR) (went public June 12) * Cardiff Oncology Inc (NASDAQ: CRDF) * ESSA Pharma Inc (NASDAQ: EPIX) * Five Prime Therapeutics Inc (NASDAQ: FPRX) * Horizon Therapeutics PLC (NASDAQ: HZNP) * IGM Biosciences Inc (NASDAQ: IGMS) * Inovio Pharmaceuticals Inc (NASDAQ: INO) * Kamada Ltd. (NASDAQ: KMDA) * Novavax, Inc. (NASDAQ: NVAX) * Passage Bio Inc (NASDAQ: PASG) * Pliant Therapeutics Inc (NASDAQ: PLRX) * Translate Bio Inc (NASDAQ: TBIO) * Twist Bioscience Corp (NASDAQ: TWST)Down In The Dumps (Biotech Stocks Hitting 52-week Lows June 24) * Genetron Holdings Ltd - ADR (NASDAQ: GTH) (went public Friday) * Vaccinex Inc (NASDAQ: VCNX)Stocks In Focus Merck's Keytruda Approved For Skin Cancer Merck & Co., Inc. (NYSE: MRK) said the FDA as approved Keytruda, its anti-PD-1 therapy, as monotherapy for the treatment of patients with recurrent or metastatic cutaneous squamous cell carcinoma that is not curable by surgery or radiation.In pre-market trading, Merck shares were down 0.65% to $75.38.UniQure Out-Licenses Investigational Late-Stage Hemophilia B Gene Therapy For Up To $2.05B Gene therapy company Uniqure NV (NASDAQ: QURE) said it has entered into a licensing agreement with CSL Behring, providing the latter with exclusive global rights to etranacogene dezaparvovec, uniQure's investigational gene therapy for patients with hemophilia B.The agreement provides for uniQure receiving a $450 million upfront cash payment and potentially up to $1.6 billion in payments based on regulatory and commercial milestones. The company is also eligible to receive tiered double-digit royalties in a range of up to a low-20s percentage of net product sales arising from the collaboration.UniQure said the proposed transaction will provide significant financial resources to advance and expand its pipeline of gene therapy candidates, anchored by AMT-130 in Huntington's disease, and to invest further in its leading gene therapy manufacturing and technology platform to support pipeline growth.The stock was down 16.39% at $52.60 premarket Thursday.La Jolla Agrees To Buy Tetraphase After protracted three-way wrangling, Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) clinched a definitive merger agreement to be bought by La Jolla Pharmaceutical Company (NASDAQ: LJPC) for $43 million in upfront cash, plus potential future cash payments of up to $16 million pursuant to contingent value rights.Melinta, which had earlier agreed to buy Tetraphase, terminated the agreement, and was paid $1.15 million as a break-up fee.In after-hours trading, Tetraphase shares declined 1.85% to $2.65, while La Jolla gained 2.08% to $4.90.See also: The Week Ahead In Biotech: Karyopharm, Zogenix, Heron, Chiasma On The Radar Ahead Of FDA Decisions Theravance Doses First Patient In Phase 2 COVID-19 Study Theravance Biopharma Inc (NASDAQ: TBPH) said the first COVID-19 patient has been dosed in a Phase 2 study of TD-0903, its lung-selective, nebulized Janus kinase inhibitor in development for the potential treatment of hospitalized patients with acute lung Injury caused by COVID-19.Offerings HUTCHISON CHINA/S ADR (NASDAQ: HCM) announced that it has entered into a definitive agreement for the sale of $100 million of shares at $25 per ADS through a private placement to private equity firm General Atlantic.This fundraise could increase to $200 million through a warrant granted with a term of 18 months for a further $100 million in Chi-Med shares exercisable at a price per share equivalent to $30 per ADS, the company said. Erytech Pharma SA (NASDAQ: ERYP) announced the signing of an agreement with the Luxembourg-based European High Growth Opportunities Securitization Fund for issuing convertible notes valued up to a maximum of 60 million euros ($67.2 million) in the event of conversion of all the notes, subject to the regulatory limit of 20% dilution.View more earnings on IBBErytech said the financing line aims at improving its financial strength and extending its cash horizon for the next key development milestones.Xeris Pharmaceuticals Inc (NASDAQ: XERS) said it has commenced concurrent underwritten public offerings of $20 million in shares of its common stock and $60 million in aggregate principal amount of convertible senior notes due 2025. The company expects the net proceeds to finance the commercialization of Gvoke and repay a $20 million loan, among other things.The stock was down 19.96% at $4.25 premarket. Evelo Biosciences Inc (NASDAQ: EVLO) priced its underwritten public offering of 12 million shares of its common stock at $3.75 per share for gross proceeds of $45 million. All of the shares in the offering are to be sold by the company. The offering is expected to close on or about June 29.The stock was down 8.98% at $3.65 premarket. Nantkwest Inc (NASDAQ: NK) priced its underwritten public offering of 7.41 million shares, with 3.7 million shares to be priced at $9.50 per share and the remaining 3.7 million shares at $12.12 per share to its CEO and principal stockholder Dr. Patrick Soon-Shiong. The aggregate gross proceeds from the offering are expected to be approximately $80.1 million.In after-hours trading, the stock shed 9.39% to $11.Translate Bio said it has commenced an underwritten public offering of $125 million of its common stock. In addition, Shire, a subsidiary of Takeda Pharmaceutical Co Ltd (NYSE: TAK), is offering 6.825 million of its common stock in the offering. The company clarified that it will not receive any proceeds from the shares sold by Shire.Translate Bio shares were down 6.64% at $24.89 premarket Thursday.Magenta Therapeutics Inc (NASDAQ: MGTA) priced its underwritten public offering of 7.5 million shares of its common stock at $8 per share for gross proceeds of $60 million. All the shares earmarked for the offering are sold by the company.On The Radar PDUFA Dates The FDA is set to rule on Zogenix, Inc.'s (NASDAQ: ZGNX) NDA for Fintepla as a potential treatment candidate for seizures associated with Dravet syndrome.Earnings * Aethlon Medical, Inc. (NASDAQ: AEMD) (after the close)Related Link: Evoke Gets FDA Nod For Gimoti, A Nasally-Administered Gastroparesis Drug See more from Benzinga * The Daily Biotech Pulse: MediciNova On Track For European Patent Win, Partial Clinical Hold Lifted For Innate Pharma, Tela Bio Details Coronavirus Impact * The Daily Biotech Pulse: Sanofi Expedites COVID-19 Vaccine Timeline, Apyx Cleared For Market Expansion, Miragen's Positive Readout(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of UniQure tumbled 17% in premarket trading on Thursday, the day after it announced that CSL Behring would acquire exclusive commercialization rights to its gene-therapy program. UniQure will receive a $450 million upfront payment as part of a $2 billion in total licensing agreement, according to Mizuho Securities analyst Difei Yang. "We believe seeking an experienced commercial partner in the hemophilia market is a rational decision and reduces commercial launch risk for the company while enabling greater investment into the pipeline," she wrote in a June 25 note to investors. The program is testing an experimental gene therapy as a possible treatment for hemophilia B; UniQure will still be responsible for taking the therapy through a Phase 3 trial. Since the start of the year, UniQure's stock has declined 12.2%, shares of CSL have gained 4.6%, and the S&P 500 is down 5.6%.
Global biotherapeutics leader CSL Behring announced today that it has agreed to acquire exclusive global license rights to commercialize an adeno-associated virus (AAV) gene therapy program, AMT-061 (etranacogene dezaparvovec), for the treatment of hemophilia B from uniQure (NASDAQ: QURE), a leading gene therapy company. The AMT-061 program, currently in Phase 3 clinical trials, could be one of the first gene therapies to provide potentially long-term benefits to patients with hemophilia B.