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Infamous Bitcoin pizza guy who squandered $365M haul has no regrets

In May 2010, California st.....»»

Category: topSource: foxnewsMay 24th, 2021

SoftBank, Middle Eastern Sovereign Wealth Funds Back Mnuchin"s $2.5 Billion Private Equity Fund

SoftBank, Middle Eastern Sovereign Wealth Funds Back Mnuchin's $2.5 Billion Private Equity Fund Treasury Secretary Steven Mnuchin has found an investor for his new 10-figure private equity fund in an old friend of the Trump Administration: SoftBank. The latest iteration of SoftBank's infamous Vision Fund has decided to invest in Mnuchin's new firm, which has a fundraising target of $2.5 billion, and will feature a private equity model. Mnuchin's new Liberty Strategic Capital, which was launched earlier this year, has also raised money from sovereign wealth funds in the Middle East, including Saudi Arabia's Public Investment Fund. Ironically, the Saudis were a major backer of SoftBank's first vision fund, but declined to invest in VFII after VFI single-handedly hiked valuations across the Silicon Valley startup world with massive investments in Uber, WeWork, and other less-well-known firms. WeWork's implosion, defeat at Wag, and even more ridiculous ventures like Zume Pizza - the VF's $4 billion burnt pizza fiasco - left SoftBank and its Middle Eastern backers with massive losses. Although it mostly slipped below the radar, Mnuchin's fund also received an investment from Abu Dhabi's Mubadala, the giant sovereign wealth fund that saw its reputation tainted by the 1MDB scandal (which briefly led Mubadala to suspend its relationship with Mnuchin's former employer, Goldman Sachs). According to the FT, one anonymous source said VFII's decision to invest with Mnuchin was influenced by Saudi Arabia's PIF, the state fund administered by Crown Prince Mohammed bin Salman, with whom Mnuchin was said to have a friendly relationship. Liberty Strategic said: "The firm is not permitted to comment on any ongoing fundraising, but it has a diverse investor base including US insurance companies, family offices, sovereign wealth funds, and other institutional investors." Mnuchin had close ties with the US's Middle Eastern partners during his time as Treasury Secretary, though there were also times of tensionL he declined to attend MbS's "Davos in the Desert" in the wake of the murder of journalist Jamal Khashoggi inside a Saudi consulate in Turkey. Mnuchin of course joins a long line of Treasury Secretaries (from both parties) who have transitioned to private equity after their time in office. The list includes Timothy Geithner, Hank Paulson, John Snow and Jack Lew Mnuchin's fund is supposed to focus on financial services and technology. No word yet on whether or not it owns any crypto. Tyler Durden Wed, 09/22/2021 - 14:59.....»»

Category: blogSource: zerohedgeSep 22nd, 2021

Bitcoin Pizza Day is being marked by crypto fans, who are grabbing a slice as a tribute to famed bitcoin trader Laszlo Hanyecz

In honor of a 2010 pizza purchase by Laszlo Hanyecz, the date is now .....»»

Category: smallbizSource: nytMay 22nd, 2021

Crypto investor Anthony Pompliano launches a bitcoin-themed pizza service in the US that won"t accept the digital asset as payment

The brand will partner with independent pizzerias in 10 cities across the US, but won't accept payment in bitcoin. Anthony Pompliano/YouTube Anthony Pompliano announced a "Bitcoin Pizza" se.....»»

Category: worldSource: nytMay 19th, 2021

New Data Gives Unprecedented Insight Into How Iranians Use Bitcoin

Iranian bitcoin users are earning a significant portion of their income in crypto, and hodling for the long haul......»»

Category: forexSource: coindeskSep 11th, 2019

New Data Gives Unprecedented Insight Into How Iranians Are Using Bitcoin

Iranian bitcoin users are earning a significant portion of their income in crypto, and hodling for the long haul......»»

Category: forexSource: coindeskSep 11th, 2019

Chuck E. Cheese compares "fake currency" bitcoin to prize tokens, setting up a Twitter feud between the mascot and furious crypto fans

Susan Montgomery/Shutterstock Chuck E. Cheese — the mascot of arcade and pizza chain Chuck E. Cheese's — comp.....»»

Category: topSource: businessinsiderJul 3rd, 2019

What Is Bitcoin Pizza Day? Celebrating the Food Order Now Worth Over $83 Million

A pizza order in 2010 was the first ever real-world use of the cryptocurrency—with 10,000 bitcoin worth just $41......»»

Category: topSource: newsweekMay 22nd, 2018

How Long Do Investors Plan To Hold Onto Bitcoin?

Did investors buy bitcoin because it was trendy, or are they committed to cryptocurrency for the long haul? As in any new and rapidly-growing market, Visual Capitalist's Jeff Desjardin.....»»

Category: blogSource: zerohedgeJun 26th, 2018

"Why would I?" Elon Musk says he has no regrets about his infamous "funding secured" tweet and plans to keep using Twitter

AP Elon Musk's infamous "funding secured" tweet could end up costing him and his business billions, due to pending investor lawsuits and SEC scrutiny. But M.....»»

Category: topSource: businessinsiderAug 17th, 2018

‘Make Bitcoin Fun Again’: New Lightning App Lets You Buy Pizza With BTC

Using the Lightning Network, more than 150 people bought Domino's pizza with bitcoin this week......»»

Category: forexSource: coindeskFeb 14th, 2019

Big investors are dumping bitcoin futures and pivoting to ethereum as expectations for the world"s largest cryptocurrency soften, JPMorgan says

"This is a setback for bitcoin and a reflection of weak demand by institutional investors," the JPMorgan analysts said. Ethereum and bitcoin. Jordan Mansfield /Getty Images Institutional investors are shying away from bitcoin futures as views on the top cryptocurrency soften, JPMorgan said. In September, bitcoin futures have traded below the price of an actual bitcoin, analysts said. Big investors have begun steadily pivoting to ethereum since August amid a "strong divergence in demand." Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Big-money investors are shying away from the bitcoin futures trade and pivoting instead to ethereum futures as expectations for the world's largest cryptocurrency soften, JPMorgan analysts wrote in a note on Wednesday.In September, bitcoin futures on the Chicago Mercantile Exchange have traded below the price of an actual bitcoin, the analysts noted. "This is a setback for bitcoin and a reflection of weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to bitcoin," the analysts wrote.Under healthy demand, futures usually trade at a premium to actual bitcoin. This happens because high bitcoin storage costs and the juicy yields available for passive crypto investing push up futures prices, according to previous JPMorgan research.That dynamic makes the current weakness in futures especially bearish for bitcoin, the analysts wrote.Meanwhile, institutional investors have begun steadily pivoting to ethereum since August. The 21-day average ethereum futures premium rose to 1% over actual ether prices, according to CME data cited by JPMorgan, showing a "strong divergence in demand.""This points to much healthier demand for ethereum vs. bitcoin by institutional investors," the JPMorgan analysts wrote.Ether prices have fallen 3% in the last month while bitcoin has fallen 10%. Last week, JPMorgan's crypto guru - who also co-authored the note on institutional demand - told Insider that he expects ethereum to keep declining as it faces growing competition from the likes of solana and cardano.Read the original article on Business Insider.....»»

Category: worldSource: nyt55 min. ago

I"m an anti-bias expert. Here"s how to stop performative allyship at work - and 4 things to do instead.

"It may sting to be accused of virtue signaling, but it's understandable why communities who've been harmed are wary. Be consistent," says Lydia Elle. Lydia Elle says companies need to be committed long-term to fighting for racial justice. Lydia Elle Lydia Elle is a business consultant based in southern California who leads anti-bias workshops. She says allyship starts with recognizing and calling out discrimination and being consistent to build trust. Here's what she says to do to be a better ally at work, as told to freelance writer Melissa Petro. See more stories on Insider's business page. This as-told-to essay is based on a transcribed conversation with Lydia Elle, a consultant and anti-bias workshop leader. It has been edited for length and clarity.Last summer while I was working a full-time job and doing my best to stay safe and healthy amid the pandemic, my 11-year-old daughter came to me with her IPad and a look of confusion on her face. She'd just accidentally viewed a few moments of the George Floyd murder. Her face had a look that said "what happened mom?" Like many parents, I'd been trying to protect her from all that's bad and wrong in the world. I realized in this moment part of protecting her needed to be letting her learn what was wrong in the world, instead of just trying to shield her from it.Shortly after this talk, I made a decision to devote myself to fighting injustice. Today, I lead anti-bias workshops and create resources that support companies and individuals interested in becoming better allies. Here's four ways fellow professionals can step to be better allies at work. 1. Start by facing the problem The first and most vital step towards fixing these issues is being aware and acknowledging them. We cannot move to a place of healing and growth without speaking first about what is sick.Last year during the Black Lives Matter protests, some people accused protestors of being 'rioters' and 'looters,' but as others have pointed out most looting happens to Black people in the boardrooms and executive offices. Many Black workers still face a promotion and wage gap. Black women have to work 7 months extra per year to earn the same pay as their white male counterparts. In workplaces that suffer from a lack of diversity, people of color often end up feeling pressured to educate their colleagues. It's considerable work for no additional compensation. Allyship is more important than ever, especially in environments where it's not expected. Step in, speak up, and call out mistreatment. Have tough conversations with your colleagues about why certain phrases or words are harmful. It's not always comfortable or convenient, but it's necessary and worth it to create a safer world for everyone.2. Employers must recognize that diversity and inclusion adds value To foster an inclusive work environment, everyone should feel seen and heard and know that their contributions matter. There's an open door policy where everyone is encouraged to speak up. The impetus to create these kinds of workplaces must come from the top down. Employees need to see consistent and full buy-in from leadership at all levels. The narrative here shouldn't be that this is to help 'them' (minorities) but that these changes are for everyone. There's a lot of data surrounding the bottom line benefits of making diversity a priority in the workplace. Studies that show diversity attracts top performing candidates, encourages innovation, and increases revenue. On the other hand, if a workplace is unwelcoming and discriminatory, employees aren't likely to last long or perform their best.3. Be consistent When it comes to equality and racial justice, you've got to be committed to the long haul. Allyship is more than one training; it's doing something every day. This was the motivation behind my allyship calendar, which offers daily prompts to start difficult conversations.This time last year, many people - some of whom may have previously just been silent or 'on the fence' about their views - felt compelled to speak out against racial injustice. In response to the Black Lives Matter protests that swept across America, companies quickly crafted statements of support and even made financial pledges. However when the wave died down- even though the injustice and inequity are still present- the support waned, too. This kind of performative allyship can leave those needing help worse off than before. It may sting to be accused of virtue signaling, but it's understandable why communities who've been harmed are wary. Be consistent. It takes time to build trust.4. Bring on helpIf your company is truly committed to improving itself in terms of equity, equality and diversity among its staff, and creating a safer and more inclusive environment, I recommend hiring an expert. Outside counsel won't take sides, which will help make sure that no one in the organization feels isolated. Coworkers should be able to speak freely and without fear of retaliation. In certain environments, you won't get honesty before effectual and sustained change has been created. Hiring outside counsel also ensures the person or persons harmed aren't tasked with fixing things. I don't want to teach my daughter how to survive racism. I want to create a space, a world, where she doesn't have to. It's up to all of us to make our present and our children's future better.Read the original article on Business Insider.....»»

Category: worldSource: nyt55 min. ago

25 anniversary gifts for her that are stylish, sweet, or offbeat

Not sure what to get for your anniversary? We rounded up thoughtful and creative gifts for your partner. When you buy through our links, Insider may earn an affiliate commission. Learn more. Food52; Amazon; Estelle; Crate and Barrel; Alyssa Powell/Insider Shopping for an anniversary gift is tough, whether you've been together for one year or 20. We've rounded up thoughtful and creative anniversary gifts for her. From timeless jewelry to useful kitchen gadgets, here are gift ideas your partner will love. Table of Contents: Masthead StickyShopping for gifts, especially for anniversaries, can be difficult. Whether you want to give something sentimental or practical, we put together a list of anniversary gifts for her (or any partner) to make the thoughtful gesture a little easier. We found gifts that you can do together, including a fun card game and a bubble tea kit you can make at home. If you want to give the gift of alone time, we recommend a New York Times best-selling mystery book or a nail-care kit. For more inspiration, check out our guide to the best anniversary gifts and gifts for him. Here are 25 anniversary gifts for her to celebrate your special day: A wine subscription delivered to your door monthly Winc Monthly Wine Subscription, available at Winc, $59.95Give the gift of personalized wine delivered to your doorstep once a month. It's our top choice for wine subscription services, but we also have picks for beer lovers, cheese fans, and candy fanciers in our guide to the best subscription boxes. Read our full review of Winc here. A nail kit for an at-home manicure Uncommon Goods Ultimate Nail Care Set & Pouch, available at Uncommon Goods, $50The Ultimate Nail Care set is a thoughtful gift for the partner who likes doing their nails, especially in the comfort of their home. A table for serving wine on the patio Uncommon Goods Outdoor Wine Table, available at Uncommon Goods, $58For wine lovers who like to picnic, this outdoor wine table sticks in the grass and holds a bottle of wine and two glasses. A pair of shorts for hiking Backcountry Mountain Hardwear Dynama Shorts, available at Backcountry, $59.99For the partner who loves to spend time outdoors, these versatile and comfortable shorts from Backcountry are ideal for hiking, biking, running, or kayaking.  An Apple Watch with the latest technology Apple Watch Series 6. Matt Monath Photography for Business Insider Apple Watch Series 6, available at Amazon, $349Our top choice for the best Apple Watch, the Series 6, has new health and wellness capabilities, including blood oxygen saturation and fall detection. A compost bin that will look good in your kitchen Food52 Bamboo Compost bin, available at Food52, $50For the environmentally conscious couple, this bamboo compost bin will look sleek and add a pop of color to your kitchen space.   A kit for making bubble tea at home Uncommon Goods Bubble Tea Set, available at Uncommon Goods, $38Concoct a refreshing beverage at home using this bubble tea kit, which comes with two tea flavors and tapioca pearls.  A pair of cozy slippers Coquette Slipper; Insider Women's Coquette Slipper, available at Ugg, $120You can't go wrong with the gift of these luxuriously soft Ugg slippers to wear around the house. Read our reviews of the Coquette and more Ugg slippers here.  A solid marble rolling pin Food52 Hawkins New York Marble Rolling Pin, available at Food52, $65A marble rolling pin is visually appealing and helpful for rolling out pizza or cookie dough. A travel bag for weekend trips Delsey Montrouge duffel bag, available at Desley, $119.99One of our favorite luggage brands, Delsey, makes the Montrouge duffel bag, which can be used for short getaways or as an extra carry-on bag for longer trips. A set of skincare samplers Glossier The Skincare Edit, available at Glossier, $50Glossier is one of the most popular makeup and skincare brands. This gift set comes with several sample-sized skincare products, including a moisturizer, cleanser, serum, and more. A hilarious card game to play together Exploding Kittens Exploding Kittens, available at Amazon, $19.82For the couple that loves card or board games, Exploding Kittens is a hilarious animal-themed game. A New York Times best-selling mystery book Amazon The Last Thing He Told Me: A Novel, available at Amazon, $12.92For the partner who is also a book worm, "The Last Thing He Told Me: A Novel" by Laura Dave is a thrilling mystery novel that appeared on Reese Witherspoon's Book Club list. We have lots of other great recommendations for gifts to give as books, too. A floral embroidered throw blanket Rifle Paper Co Rifle Paper Co. Luxembourg Embroidered Throw, available at Rifle Paper Co., $170Rifle Paper Co. is known for its florals, and this embroidered throw blanket is no exception with its delicate pattern of flowers. A smart meat thermometer Meater Meater Plus With Bluetooth Repeater, available at Meater, $99Give the gift of a gadget that makes it easier to cook meat. The Meater Plus is a wireless meat thermometer that will give you accurate temperatures for your favorite meat dishes.   A timeless gold bangle Valerie Madison Jewelry 14K Gold Thin Bangle, available at Valerie Madison, $335Understated yet elegant, this bangle from Valerie Madison is a gorgeous piece of jewelry to give as a gift. An elegant jewelry box West Elm Grand Lacquer Jewelry Box, available at West Elm, $250If you gave your partner a necklace or bracelet for your last anniversary, a timeless jewelry box is the perfect follow-up gift. Plus, you can personalize the box with a monogram. A stunning silver-and-turquoise ring Ahlazua Blue Ridge Turquoise & Sterling Silver Ring, available at Ahlazua, $120Simple yet beautiful, the Blue Ridge turquoise and sterling silver ring is from Ahlazua, an Indigenous- and woman-owned jewelry company.  A sleek electric kettle Crate and Barrel Fellow Stagg EKG Electric Pour-Over Kettle, available at Crate & Barrel, $149.95For the partner who is an avid tea or pour-over coffee drinker, the Fellow Stagg electric kettle is functional and visually appealing on any countertop. Body oil for anyone Noto Agender Oil, available at Noto, $44Noto has a variety of products for everyday use for everyone. Its Agender Oil works for both hair and body. A box of succulents Botany Box The Original Botany Box, available at Botany Box, $58The Original Botany Box comes with four easy-to-care-for succulents and instructions for your new plants. A custom set of colorful wine glasses Estelle Colored Glass Colored Wine Stemware set of 6, available at Estelle, $190Create a custom set of six colorful wine glasses from Estelle. They come in 17 different colors, including lavender, black, and royal blue.  A set of luxurious towels Pottery Barn Hydrocotton Organic Quick-Dry Towels, available at Pottery Barn, $29.50In our roundup of the best bath towels, the Hydrocotton Organic towels from Pottery Barn are our favorite quick-dry bath towels and are particularly fluffy and soft. A custom puzzle of a favorite photo Shutterfly Shutterfly Photo Gallery Keepsake Puzzle, available at Shutterfly, $29.99If you're looking for a personalized gift, a puzzle of your favorite photo together is both thoughtful and sentimental.  A recipe book to up your cocktail-making game ECOVIBE Batch Cocktails: Make-Ahead Pitcher Drinks for Every Occasion, available at ECOVIBE, $19.99Celebrate at home together using the recipe book "Batch Cocktails." Read the original article on Business Insider.....»»

Category: worldSource: nyt55 min. ago

Pizza Hut seeks 40,000 new workers by the end of the year

Pizza Hut said Thursday that the pizza chain and its franchisees are looking for 40,000 new permanent workers by the end of 2021. Most of the openings are for drivers and cooks. Pizza Hut and franchisees are also hosting a virtual career event, Pizza Hut: Pathways to Possibility, on Sept. 29 to showcase how workers can advance their career with the brand. Pizza Hut joins a number of companies that are offering programs, benefits and pay to attract and retain workers in a tight labor market. Pizza Hut is part of the Yum Brands Inc. portfolio. Yum stock has gained 15.7% for the year to date while the S&P 500 index is up 18.6% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news......»»

Category: topSource: marketwatch1 hr. 55 min. ago

Allison (ALSN) & JJE Join Forces for Commercial E-Powertrains

Allison's (ALSN) partnership with JJE will bank on the latter's robust foothold in the Chinese commercial vehicle electrified powertrain market. Allison Transmission ALSN recently entered into a global strategic collaboration partnership agreement with Jing-Jin Electric (“JJE”) to accelerate the development of best-in-class electrified powertrain solutions for global commercial vehicles.China-based JJE is an electrified propulsion leader in components, assemblies and systems for the global automotive and commercial vehicle customers.The companies are highly optimistic about this partnership as it will prove beneficial for both. JJE possesses more than 10 years of experience in the industry-leading electric motors and power electronics as well as central and direct drive electrified propulsion architectures. Allison, meanwhile, brings to the table decades of experience in building reliable and valued propulsion solutions, including electrified propulsion systems development and commercialization.The collaboration aims to bank on JJE’s dominance in electric motor and inverter development, and its robust foothold in the Chinese commercial vehicle electrified powertrain market, while exploiting Allison’s expertise in the fully electric and electric hybrid commercial duty propulsion systems.Commercial vehicle’s electrification will be one of the greatest contributors toward achieving carbon neutrality in transportation. The deal will enable Allison and JEE to merge their competencies in order to create the most powerful, most efficient and most reliable electrified powertrains for global commercial vehicle customers. Amid the aggravating climate change concerns, the companies together will pivot the transformation toward carbon neutral and zero emission transportation.Moreover, the integration of their capabilities through the partnership will enable them to offer innovative and reliable electrified propulsion solutions to the commercial vehicle manufacturers across the globe. The partnership will uniquely position both parties to gain a global manufacturing presence and take advantage of their combined service networks in order to cater to customers in local markets with highly cost-competitive products. Together, the companies will further enhance their product menus, manufacturing locations and supporting resources. Additionally, Allison has pledged to provide debt financing to back JJE North America’s efforts for commercial vehicle electric drive product development, testing and manufacturing.In a separate development, Daimler’s DDAIF Truck arm has integrated Allison 3414 Regional Haul Series (RHS) into its Class 8 Freightliner Cascadia Day Cab models. The first Freightliner Cascadias, equipped with the 3414 RHS, will begin production in January 2022.The Allison 3414 RHS is an upgraded variant of Allison’s proven 3000 Series fully automatic transmission. It offers up to 8% fuel economy efficiency compared to the Allison 3000 Highway Series, and provides 25% quicker acceleration over the automated manual transmissions.Allison’s latest development in regional haul trucking provides Daimler’s Freightliner customers with an efficient solution that enhances the payload, performance, fuel efficiency and driver comfort. The latest integration creates a winning portfolio for weight-conscious segments, where acceleration and maneuverability are the most crucial aspects.Headquartered in Indianapolis, IN, Allison is a manufacturer of fully-automatic transmissions for medium- and heavy-duty commercial and heavy-tactical U.S. defense vehicles. In fact, the company is the largest producer of fully-automatic transmissions, holding the leading position in several niche markets. The firm also offers electric hybrid and fully-electric propulsion systems.Allison, peers of which include American Axle & Manufacturing Holdings AXL and Meritor MTOR, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Daimler AG (DDAIF): Free Stock Analysis Report American Axle & Manufacturing Holdings, Inc. (AXL): Free Stock Analysis Report Meritor, Inc. (MTOR): Free Stock Analysis Report Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 27 min. ago

Fed Gives Bond-Buy Tapering Signal Without Timeline: 5 Picks

We have narrowed down our search to five U.S. corporate behemoths that have strong growth potential for the rest of 2021. These are: AAPL, MSFT, NVDA, DHR and COST. On Sep 22, Wall Street closed sharply higher ending its 4-day losing streak and recouped some of the losses it has suffered in September. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — rallied 1% each, while the small-cap-centric Russell 2000 surged 1.5%.U.S. stock markets rebounded following Fed Chairman Jerome Powell’s confirmation that a shift from the central bank’s ultra-dovish monetary policy is not immediate. The Fed will maintain its monetary stimulus and stick to a near-zero short-term benchmark interest rate at least for the time being.Powell Maintains Dovish StanceIn his statement after the conclusion of the two-day FOMC meeting, Fed Chairman Jerome Powell said “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted.”Fed Chairman made the point that it is “more important to do it right than fast.” “While no decisions were made, participants generally viewed that so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate,” he said.Powell said that the central bank’s further progress test has been met regarding its inflation target. He added “My own view is the test for substantial further progress on employment is all but met.” However, Powell made it clear “For me it wouldn’t take a knockout, great, super strong employment report. It would take a reasonably good employment report for me to feel like that test is met.”Fed’s latest dot plot for rate projection is showing nine out of18 members believing that the first rate cut will come in the second half of 2022. This number was just seven after June’s FOMC meeting. However, Powell had commented in June that dot plots should be taken with a “big grain of salt.” It is “not a great forecaster of future rate moves." Fed's policy will be guided by the actual outcome of economic variables and not by its officials' expectations about the future.Tapering Likely Priced in Market ValuationThe Fed Chairman has said repeatedly that the central bank will give enough indication to market participants before it actually starts tapering in order to minimize volatility.Although the Fed has restrained from providing any timeline as to when the tapering of the monthly $120 billion bond-buy program will start, many economists and financial researchers believe that the announcement will come in the next FOMC meeting in November and the process will start from December.Despite this, yesterday’s rally indicates that the impact of tapering seems already factored in market valuations. The central bank had taken this extraordinary measure last year to tackle an extraordinary health hazard-led economic devastation. Everyone knows that this monetary stimulus will fade out gradually with the pace of U.S. economic recovery.Therefore, a possible tapering of the Fed’s monthly $80 billion Treasury Notes and $40 billion mortgage-backed bond-buying program this year may not shake market participants’ confidence. The important point is that the Fed has taken an extremely cautious approach to tapering its quantitative easing program.Stock Selection CriteriaAt this stage, it will be prudent to invest in stocks of U.S. corporate behemoths (market capital > $100 billion) that have performed better than the market’s benchmark — the S&P 500 Index — in the past month, amid September’s volatility.The stocks must carry a favorable Zacks Rank. These companies have highly established business models spread across the world, lucrative product pipelines, globally acclaimed brand recognition and robust financial positions, which will help them to cope with a higher interest rate.Accordingly, we have narrowed down our search to five U.S. corporate behemoths that have strong growth potential for the rest of 2021. These stocks have seen positive earnings estimate revisions in the last 60 days. Each of our picks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The chart below shows the price performance of our five picks in the past month.Image Source: Zacks Investment ResearchApple Inc.'s AAPL Services and Wearables businesses are expected to drive top-line growth in fiscal 2021 and beyond. Although Apple’s business primarily runs around its flagship iPhone, the Services portfolio has emerged as the company’s new cash cow. Its focus on autonomous vehicles and augmented reality/virtual reality technologies presents growth opportunities in the long haul.This Zacks Rank #1 company has an expected earnings growth rate of 2.2% for next year (ending September 2022) after estimated 70.4% growth in the current year (ending September 2021). The Zacks Consensus Estimate for next year improved 6.3% over the last 60 days.Microsoft Corp. MSFT is introducing new and improved Surface devices that could encourage enterprises to stick with Windows as they move toward BYOD and cloud computing. Microsoft’s advantages in this respect are two-fold.First, the company has a very large installed base of Office users. Most legacy data are based on Office, so enterprises are usually reluctant to use other productivity solutions. Second, the BYOD model is dependent on security and cloud integration, both of which are Microsoft’s strengths.This Zacks Rank#2 company has an expected earnings growth rate of 8.4% for the current year (ending June 2022). The Zacks Consensus Estimate for current-year earnings improved 3.7% over the last 60 days.NVIDIA Corp. NVDA is benefiting from the coronavirus-induced work-from-home and learn-at-home wave. It is also benefiting from strong growth in GeForce desktop and notebook GPUs, which are boosting gaming revenues.Moreover, a surge in Hyperscale demand remains a tailwind for the company’s Data Center business. The expansion of NVIDIA GeForce NOW is expected to drive its user base. Further, a solid uptake of artificial intelligence-based smart cockpit infotainment solutions is a boon.This Zacks Rank #2 company has an expected earnings growth rate of 68% for the current year (ending January 2022). The Zacks Consensus Estimate for current-year earnings has improved 5.8% over the last 60 days.Danaher Corp. DHR is poised to gain from Danaher Business System (“DBS”), the policy of rewarding shareholders through dividend payments, synergistic benefits from acquired assets and investment in product innovation in the quarters ahead.The company anticipates core revenue growth in the mid to high-teens range for the third quarter of 2021 and in the high-teens for 2021. The pandemic-led tailwinds are expected to boost core sales by high-single digits in the third quarter and by 10% in 2021.This Zacks Rank #2 company has an expected earnings growth rate of 50.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1% over the last 30 days.Costco Wholesale Corp. COST operates membership warehouses in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, Iceland, China, and Taiwan. It offers branded and private-label products in a range of merchandise categories.Its growth strategies, better price management, decent membership trend and increasing penetration of e-commerce business reinforce its position. The strategy to sell products at discounted prices has helped to draw customers seeking both value and convenience. These factors have been aiding in registering impressive sales numbers.This Zacks Rank #2 company has an expected earnings growth rate of 7.9% for the current year (ending August 2022). The Zacks Consensus Estimate for current-year earnings has improved 1.1% over the last 30 days. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Danaher Corporation (DHR): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Costco Wholesale Corporation (COST): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 27 min. ago

5 Stocks to Watch as EV Adoption Revs Up

EV adoption has witnessed significant growth this year. Thus, investors should keep an eye on Nikola (NKLA), Hyliion (HYLN), Tesla (TSLA), Ford (F) & General Motors (GM). Electric vehicles (EV) are rapidly gaining in terms of reliability and a way to reduce the global carbon footprint. Longest-lasting, farthest-driving and affordable batteries are the key parameters of the race in the EV market.The automobile industry is moving toward electrification and the U.S. government is providing aid through the promotion of EV infrastructure and consumer rebates. Regardless of the government’s boost and the infrastructure bill scheduled to be passed on Sep 27, the industry is poised to witness tremendous growth.Consumer enthusiasm has been a key to EV growth, as can be seen from the boom in sales. In the first quarter of 2021, global EV sales surged 160% from the same quarter last year to 2.6 million units, according to a report by Canalys. Sales have been spectacular despite several supply-side constraints, especially the pandemic and chip shortage.China is the largest EV market while Europe has the highest EV adoption, with Norway leading with more than 80% of new car sales. Meanwhile, the United States is trying to catch up and the Biden administration hopes 40% to 50% of all new cars sales to be EVs by 2030.Recent technological developments are also boosting the EV space, starting from carmakers to battery producers and charging networks. In fact, batteries are the linchpin of any EV and this segment has especially witnessed exponential growth. Companies like Hyliion Holdings Corp. HYLN are developing electric powertrains that are compatible with renewable natural gas and hydrogen fuel cells. Meanwhile, QuantumScape announced a major breakthrough in solid-state lithium metal batteries that can totally change the way consumers view EVs.The EV market has also created several niches like battery recycling and disposal of old batteries. Companies like Li-Cycle Holdings, founded only in 2016, estimates that the EV industry will produce more than 15 million tons of discarded lithium-ion batteries by 2030. Li-Cycle, a battery recycling firm, plans to capture this segment by offering an outlet for used batteries and a sustainable source for materials to be used in recycled batteries. It aims to recover usable materials from thrown-away batteries and touts that up to 95% of the battery materials can be processed for recovery, which in turn will reduce waste.Automobile bigwigs are also investing millions into EVs. On Sep 22, Ford Motor Company F reported that it is investing $50 million in Redwood Materials to recycle EV batteries. Redwood, which is well known for recycling batteries for e-bike, will expand its manufacturing facilities and cater to make EVs more sustainable and affordable. This deal is part of the $22-billion plan that Ford earlier announced to up its game in the EV market. The company also has the Mach-E, the e-Transit commercial van, and an electric F-150 line-up, set to be launched this year and the next.5 Stocks to WatchGlobal administration bodies are increasing regulations to phase out fossil fuel-powered vehicles and promoting EV infrastructure. Additionally, the decline in the cost of batteries and the luxury that EVs provide are also attracting buyers. Per a Meticulous Market Research forecast, the global EV market is expected to reach $2.5 trillion by 2027, at a CAGR of 33.6% from 2020. The company estimates the sale of 233.9 million units by 2027, at a CAGR of 21.7%.Given the positives, we have shortlisted five stocks covering EV manufacturers (pure-play & traditional), battery makers and charging networks that are poised to grow and investors should look out for.Nikola Corporation NKLA develops and commercializes battery-electric (BEV) and fuel cell electric (FCEV) Class 8 trucks for the short, medium, and long-haul trucking sector and also offers hydrogen EVs, EV drivetrains, vehicle components, and energy storage systems. Earlier in September, Nikola inaugurated a joint-venture manufacturing facility with CNH Industrial dedicated to the development of the Nikola Tre electric heavy-duty trucks.The company’s expected earnings growth rate for the current quarter is 16.1% against the Zacks Automotive - Domestic industry’s projected decline of 48.7%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 18.5% upward over the past 60 days. Nikola currently holds a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Hyliion Holdings designs, develops, and sells electrified powertrain solutions and also provides battery management systems for hybrid and fully EV applications. This Zack Rank #2 company that belongs to the Zacks Automotive - Original Equipment industry has an expected earnings growth rate of 50% for the current quarter. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 9.4% upward over the past 60 days.Tesla, Inc. TSLA designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems.The company’s expected earnings growth rate for the current year is more than 100% compared with the Zacks Automotive - Domestic industry’s projected growth of 15.2%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 19.1% upward over the past 60 days. Tesla carries a Zack Rank #3 (Hold).Ford, a Zack Rank #3 company, designs, manufactures, markets, and services a range of Ford trucks, cars, sport utility vehicles, electrified vehicles, and Lincoln luxury vehicles. The company plans to add F-150 Lightning with four series and two battery options to the range of Mustang Mach-E catalog by spring 2022.The auto giant has an expected earnings growth rate for the current year of more than 100% compared with the Zacks Automotive - Domestic industry’s projected growth of 15.2%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 28.2% upward over the past 60 days.General Motors Company GM designs, builds, and sells cars, trucks, crossovers, and automobile parts. The company recently unveiled the Cadillac LYRIQ show car and the GMC HUMMER EV, which joined the Chevrolet Bolt EV, and is currently on the market. The auto giant will invest $27 billion in EVs and associated products between 2020 and 2025.This Zack Rank #3 company’s expected earnings growth rate for the current year is 25.7% compared with the Zacks Automotive - Domestic industry’s projected growth of 15.2%. The Zacks Consensus Estimate for this company’s current-year earnings has been revised 0.7% upward over the past 90 days. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Tesla, Inc. (TSLA): Free Stock Analysis Report Nikola Corporation (NKLA): Free Stock Analysis Report Hyliion Holdings Corp. (HYLN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 27 min. ago

Is Asbury Automotive (ABG) a Great Growth Stock?

If you are looking for a fast-growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider Asbury Automotive (ABG). Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.One such company that might be well-positioned for future earnings growth is Asbury Automotive Group, Inc. ABG. This firm, which is in the Automotive - Retail and Whole Sales industry, saw EPS growth of 36.4% last year, and is looking great for this year too.In fact, the current growth estimate for this year calls for earnings-per-share growth of 90.9%. Furthermore, the long-term growth rate is currently an impressive 18.5%, suggesting pretty good prospects for the long haul.Asbury Automotive Group, Inc. Price and Consensus Asbury Automotive Group, Inc. price-consensus-chart | Asbury Automotive Group, Inc. QuoteAnd if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 2.4%. Thanks to this rise in earnings estimates, ABG has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank stocks here.So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider ABG. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for ABG as well. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Asbury Automotive Group, Inc. (ABG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 27 min. ago

Why Crocs (CROX) Could Be an Impressive Growth Stock

If you are looking for a fast-growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider Crocs (CROX). Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.One such company that might be well-positioned for future earnings growth is Crocs, Inc. CROX. This firm, which is in the Textile - Apparel industry, saw EPS growth of 100% last year, and is looking great for this year too.In fact, the current growth estimate for this year calls for earnings-per-share growth of 113.9%. Furthermore, the long-term growth rate is currently an impressive 15%, suggesting pretty good prospects for the long haul.Crocs, Inc. Price and Consensus Crocs, Inc. price-consensus-chart | Crocs, Inc. QuoteAnd if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 1.6%. Thanks to this rise in earnings estimates, CROX has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank stocks here.So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider CROX. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for CROX as well. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Crocs, Inc. (CROX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 27 min. ago

Can Lithia Motors (LAD) Stock Continue to Grow Earnings?

If you are looking for a fast-growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider Lithia Motors (LAD). Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.One such company that might be well-positioned for future earnings growth is Lithia Motors, Inc. LAD. This firm, which is in the Automotive - Retail and Whole Sales industry, saw EPS growth of 54.7% last year, and is looking great for this year too.In fact, the current growth estimate for this year calls for earnings-per-share growth of 93%. Furthermore, the long-term growth rate is currently an impressive 21.9%, suggesting pretty good prospects for the long haul.Lithia Motors, Inc. Price and Consensus Lithia Motors, Inc. price-consensus-chart | Lithia Motors, Inc. QuoteAnd if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 3.7%. Thanks to this rise in earnings estimates, LAD has a Zacks Rank #1 (Strong Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank stocks here.So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider LAD. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for LAD as well. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lithia Motors, Inc. (LAD): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacks2 hr. 27 min. ago