admin_coinvest, Author at Coin Invest

Kentucky steel plant to expand with $244M investment

January 28, 2023January 28, 2023 admin_coinvest

A Kentucky stainless steel plant is spending $244 million to expand its facility in Carroll County, one of several economic development projects announced by Gov. Andy Beshear this week.

North American Stainless will add space to its 4 million square foot plant and add 70 new jobs, Beshear said at a Thursday news conference. The company handles about half the stainless steel made in North American, according to its CEO, Cristobal Fuentes.

LOUISVILLE JUVENILE DETENTION CENTER DEEMED UNSAFE SET TO REOPEN AFTER REPAIRS

A Kentucky steel plant is paying $244 million to expand their facility by 4 million square feet. This investment will create over 70 new jobs.

CLICK HERE TO GET THE FOX NEWS APP

Another company, LioChem e-Materials, will renovate a building in Simpson County with a $104 million investment, the governor said. The new plant will support electric vehicle battery production and create 141 jobs, according to a news release from the governor’s office.

The plant will produce a liquid dispersion of carbon nanotubes that improves the performance of lithium-ion batteries used in electric vehicles.

The governor also announced the expansion of Carter Lumber Co. in Bowling Green. The $8 million investment will add 86 jobs.

CLICK HERE TO GET THE FOX NEWS APP

Source: https://www.foxnews.com/us/kentucky-steel-plant-expand-244m-investment

White House publishes

January 27, 2023January 27, 2023 admin_coinvest

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

(Kitco News) – A group of senior U.S. officials from the White House published a statement on Friday titled “The Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks,” which outlined the Biden administration’s plans for cryptocurrencies and encouraged congress to “step up its efforts” in helping to develop regulations around the nascent asset class.

“While cryptocurrency might be relatively new, the behavior we have seen some cryptocurrency companies exhibit and the risks posed by this behavior are not. As an administration, our focus is on continuing to ensure that cryptocurrencies cannot undermine financial stability, to protect investors, and to hold bad actors accountable,” the blog said.

The authors went on to note that the White House has spent the past year focused on identifying the risks of cryptocurrencies and acting to mitigate them using the authority of the Executive branch. These efforts include the publication of the first-ever framework for crypto regulation in the U.S., which the White House released in September.

“To be sure, the technologies powering cryptocurrencies may offer ways to make payments faster, cheaper, and safer. But this framework identifies clear risks,” the authors wrote. “For example, some cryptocurrency entities ignore applicable financial regulations and basic risk controls – practices that protect the country’s households, businesses, and economy.”

Other concerns include misleading statements by promoters, conflicts of interest, failure to make adequate disclosures, and outright fraud.

The authors called on Congress “to step up its efforts” to help combat these issues and establish a clear regulatory framework for digital assets in the U.S.

“Congress should expand regulators’ powers to prevent misuses of customers’ assets—which hurt investors and distort prices—and to mitigate conflicts of interest.” the blog said. “Congress could also strengthen transparency and disclosure requirements for cryptocurrency companies so that investors can make more informed decisions about financial and environmental risks.”

Other recommendations include harsher penalties for violating illicit-finance rules, increased funding for law enforcement to improve their capabilities, and “following the steps outlined by the Financial Stability Oversight Council in its recent report, including addressing the risks of stablecoins.”

While the authors called on Congress to act, they stressed that any legislation that gets passed must avoid increasing the risks to investors or the financial system.

“Legislation should not greenlight mainstream institutions, like pension funds, to dive headlong into cryptocurrency markets,” the authors wrote. “In the past year, traditional financial institutions’ limited exposure to cryptocurrencies has prevented turmoil in cryptocurrencies from infecting the broader financial system. It would be a grave mistake to enact legislation that reverses course and deepens the ties between cryptocurrencies and the broader financial system.”

The blog finished by encouraging the implementation of safeguards that will help ensure that newly developed blockchain technologies are secure and beneficial to all of society and that the new digital economy works for everyone, not just a select few. “To put the right safeguards in place, we will keep driving forward the digital-assets framework we’ve developed, while working with Congress to achieve these goals,” the authors wrote.

Calls for public feedback

In other news from the executive branch of the U.S., the White House Office of Science and Technology Policy (OSTP) has announced that it is seeking feedback from the public that will go towards the development of a cryptocurrency policy.

“The White House OSTP requests public comments to help identify priorities for research and development related to digital assets, including various underlying technologies such as blockchain, distributed ledgers, decentralized finance, smart contracts, and related issues such as cybersecurity and privacy ( e.g., cryptographic foundations and quantum resistance), programmability, and sustainability as they relate to digital assets,” a notice from the OSTP said.

Individuals and organizations who are interested in providing feedback have until 5 p.m. EST on March 3 to submit their comments electronically to DARD-FTAC-RFI@nitrd.gov.

Statements from the public will be closely reviewed to identify critical focus areas in researching and developing cryptocurrencies, OSTP said. The other agencies involved with OSTP in this endeavor include the Fast Track Action Committee (FTAC) on Digital Asset Research, the National Science Foundation, and the Networking and Information Technology Research and Development (NITRD) National Coordination Office.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Source: https://www.kitco.com/news/2023-01-27/White-House-publishes-Roadmap-to-Mitigate-Cryptocurrencies-Risks.html

Boeing’s Terrible Earnings Have Left Wall Street More Bullish. Here’s Why.

January 27, 2023January 27, 2023 admin_coinvest

This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

https://www.barrons.com/articles/boeing-earnings-stock-airbus-ge-flight-travel-51674832545

Jan. 27, 2023 10:19 am ET

Order Reprints

Print Article

Free cash flow at commercial aerospace giant Boeing has stabilized. Earnings, however, are all over the place. That isn’t bothering Wall Street, though—the stock remains attractive and target prices are moving higher.

On Wednesday Boeing (ticker: BA) reported a loss of $1.75 a share. Wall Street was looking for a 20 cent loss. It was a big miss, but shares finished up 0.3% on the day. Investors are inured to big misses from the company.

reported

Source: https://www.barrons.com/articles/boeing-earnings-stock-airbus-ge-flight-travel-51674832545

Bitcoin is headed for its best start to the year since 2013 as risk appetite grows ahead of expected smaller Fed rate hike

January 27, 2023January 27, 2023 admin_coinvest

Bitcoin’s price has surged 40% since the beginning of the year, according to Messari.

The rally comes ahead of expected smaller rate hikes from the Federal Reserve next week.

Other cryptos are rebounding too as the industry regains its $1 trillion market cap.

Loading Something is loading.

Thanks for signing up!

Access your favorite topics in a personalized feed while you’re on the go.

Bitcoin is on track for its best January since 2013 as the prospect of slower rate hikes from the Federal Reserves has increase the risk appetite among investors.

On Friday, the token dipped 0.3% to $23,000. But it’s up 40% so far this month, according to Messari, and eyeing the 51% jump seen in January of 2013.

Other cryptos are continuing to rebound as the industry regains its $1 trillion market capitalization. Ethereum is up 32% in the past month.

“Bitcoin is up +40% year-to-date with +35% of those returns occurring during US-trading hours. That’s an 85% contribution of the rally associated with U.S.-based investors,” Markus Thielen, head of research and strategy at digital asset services provider Matrixport, wrote in a note to clients on Friday.

The rally seems driven by the belief that the Federal Reserve will ease back further on aggressive rate hikes following signs of cooling inflation.

Core PCE data, which shows a fuller picture of consumer costs and spending, indicated that prices rose at a slower pace last month, the Commerce Department reported on Friday, giving leeway for the Fed to ease up on monetary tightening.

All eyes are on the Federal Open Market Committee’s (FOMC) meeting next week, when the central bank is expected to announce a smaller increase in the fed funds rate.

“More measured rate hikes globally tilting to stability will reduce the headwinds as BTC edges towards fresh heights. But overall investors are more — mentally and portfolio wise — prepared than ever to deal with volatility,” Nathan Thompson, a lead tech writer at crypto exchange Bybit, told Insider in a statement.

“The broader implication is that these movements reflect BTC’s increasingly significant role in economic cycles, in some cases as a hedging asset in capital markets.”

Crypto markets seemed to have moved past a slew of bad news for the industry, including the bankruptcies of major firms like crypto exchange FTX, lender Genesis, and hedge fund Three Arrows Capital over the past year.

Matrixport’s Thielen said supporting the rally is a “clear signal” that US institutions are buying up bitcoin right now.

“Institutions are not only buying bitcoin spot; rather, we are also seeing consistently high premiums for perpetual futures,” Thielen said. “We interpret this as an indication that faster institutional traders and hedge funds are actively buying the recent dip in crypto markets.”

Source: https://markets.businessinsider.com/news/currencies/bitcoin-crypto-price-fed-rate-hike-inflation-federal-reserve-cryptocurrency-2023-1?op=1

NEWS — TradingView

January 27, 2023January 27, 2023 admin_coinvest

The EUR/USD pair has been trading in a tight range, with the bulls wanting the channel to continue but under a lot of selling pressure. The pair has been dropping since the start of the day and is currently trading around 1.09112. The market sentiment is bearish due to the mixed economic news and meetings that are scheduled today. The market is currently…

Yesterday we saw big swings during the news. In GBPUSD we saw a pullback off the support zone and a new high.It’s crucial now to see if this movement has the strength to continue.We’re looking at a new support zone that in the near hours we expect a reaction from. Upon another rise the goal will be 1,2315.The scenario fails on a breakout of 1,2087.

Today’s news will cause new movements and gives new trade opportunities.Over the past few days we’ve been looking at GBPUSD. Yesterday the price reached 1.2300 and made a new top. Thus, the expected movement after the news has been completed.Today we will look for another rise.Upon a breakout of 1,2315, the next resistance levels are 1,2370 & 1,2427.

01:34

BANKNIFTY CRUSH FOR HIDENBURG CASEAdani Group’s legal head Jatin Jalundhwala said Thursday: “We are evaluating relevant provisions under US and Indian laws for remedial and punitive action against Hindenburg.”This is the reason for fallNew Range 39600-40600

If we see the entry signal in this zone with the set loss limit, we will enter the matter of the degree of ascent, but keep in mind that this signal is used in the upper periods, so you must be patient enough, but if the goals are achieved, there will be a good profit. befor newsssssss

Seafarer Exploration’s SeaSearcher drone is set to take the treasure-hunting world by storm The current SeaSearcher prototype, getting put to the test in FloridaAs any frequent viewer of the Discovery Channel will know, the search for sunken treasure typically involves sifting through the sand, just hoping to unearth gold or silver. The SeaSearcher underwater…

The coin, after a long growth, went on a correction, as a result, a horizontal support level of 5.92 was formed, confirmed by several touches. Currently, the coin is consolidating at this level, volumes are declining, which indicates the weakness of the buyer. I expect a breakdown of this level, consolidation under it and a decrease to the lower support levels.

This may come as a shock to all of you but we are at the lower end of the market historically, and we have begun to see the rapid decline of market trends.Long positions are being made which is why we are seeing such a short market to buy up all the great pricing for a swing to the 100s in the mid-year rise.this cycle will place us in new market highs pretty soon.

NZDUSD TRADING BULLISH on this analysis we saw a bigger pattern from previous correction and then price broke-out from the large correction and form a continuation correction to continue the trend #WHAT AM I EXPECTING:am waiting for a continuation pattern around 2 reaction zone #HOW DO WE ENTER:if continuation pattern form get in on the break of ltf…

🖥️ We have determined there is a 70% chance Bitcoin will RISE from our current entry point.📉 LONG – BTC : $16,855 📉💵 Length of trade: we are expecting BTC to hit a $200 scalp, with a high end of $300 – minimum expectation $125.🕰️ Duration of trade: we are expecting BTC to try and retouch today’s top, and then possibly continue its way up still till…

Today we expect US inflation (CPI) data to be released. This is some of the most important news right now, and it’s making a big impact.Regardless of the values, we expect big fluctuations at the time of publication!Anyone who does not have experience and prefers more relaxed trading is recommended to just watch the movements!We have identified the…

EIA Petroleum Status Reports are considered high-impact news, yet how much do they impact ES futures?In the 30 minutes after it gets reported at 10:30am ET, here’s how ES has reacted the last 5 times: Jan 4: 14.75-point range, closing up 0.21% after 30 minutes Dec 28: 11.5-point range, closing up 0.25% after 30 minutes Dec 21: 12-point range, closing…

broke structure london session structure broke above and supporting above support and trendlinegoing up to 1h resistance area

GBP/USD, 4HIn my opinion, the bearish engulfing pattern isn’t exhausted yet! the higher the timeframe it was spotted, the farther the BEARS go!Only a high impact will push the price pass block -A by retesting trendline -XBut our best bet is for price to retest block-A and head straight to block -B

FX:USDOLLAR Totally uneducated assumption but with the pandemic and recession I’d assume NFP will come back negative but who knows maybe that would encourage/force people to work to pay for increased living expenses due to inflation and rate hikes. Also the fact that people working multiple jobs for sperate companies count as a point for each job they work. 10x…

SignaNo.1✳️✳️Buy Eur/Jpy @ 140.68Tp – 142.00 & 142.80Sl – 140.10

SAXO:XAUUSD English: Hey, trader! Here we have the XAUUSD in the 4h time frame. I’m looking for a short opportunity. I’ll look for a move up to 1819 to the resistance zone and then enter a short trade with the strength of the dollar. There is one important news in the afternoon tomorrow. So be careful! Theis news can change the direction of the chart very…

FX:EURUSD English: Hey, trader! Here we have the EURUSD in the 4h time frame.I delated every trendline,fib,sup,res. I’m just looking for a move out the Box and then try find e retest move to the box and then take an entry. There is one important news in the afternoon tomorrow. So be careful! Theis news can change the direction of the chart very quickly!…

Source: https://www.tradingview.com/ideas/news/

A Bull Market Is Coming: 2 Top Growth Stocks Down 55% and 61% to Buy In 2023

January 27, 2023January 27, 2023 admin_coinvest

The stock market got pummeled last year. In fact, the broad-based S&P 500 and the tech-heavy Nasdaq Composite produced their worst returns since the financial crisis in 2008, as economic uncertainty sent both indexes tumbling into a bear market.

But patient investors need not worry. The S&P 500 and the Nasdaq Composite have recovered from every past downturn, and there is no reason to think this one will be any different. Eventually, another bull market will come along, and both indexes will recoup their losses.

In the meantime, HubSpot (HUBS 2.41%) and Etsy (ETSY -0.97%) have seen their share prices fall 61% and 55%respectively from all-time highs, creating an attractive buying opportunity.

1. HubSpot

HubSpot provides customer relationship management (CRM) software to small and medium-sized businesses. Its CRM suite includes productivity tools for marketing, sales, service, and operations, coupled with a content management system that empowers businesses to attract visitors and engage leads with personalized websites. HubSpot gives businesses the tools they need to delight their own customers through every stage of the customer journey.

HubSpot competes against larger CRM vendors like Salesforce and Oracle, but its freemium pricing strategy and easy-to-use products helped the company hold its own. HubSpot ranks as the leader in CRM software among small businesses, and it has a strong presence in the mid-market niche as well, according to research company G2. Better yet, G2 recognized HubSpot as the second-best global software seller in any category in 2022, based on its strong market presence and high user satisfaction scores.

Despite challenging economic conditions, HubSpot issued a solid third-quarter report. Its customer count increased by 24% to 158,900, and the average subscription revenue per customer increased by 7%. That highlights its ability to win business with new clients, then expand its relationship with those clients over time. That compounding effect led to impressive growth on the top and bottom lines. Third-quarter revenue increased 31% to $444 million, and non-GAAP earnings climbed 38% to $0.69 per diluted share.

HubSpot is set to maintain or even accelerate its momentum in the future, especially under more favorable economic conditions. The company says its addressable market will grow at 10% annually to reach $72 billion by 2027, and its track record of continuous innovation should instill confidence in investors. For instance, HubSpot introduced payment processing capabilities last year, and it recently added new commerce tools to its CRM platform, both of which make its offering more robust and compelling.

Shares currently trade at 10.1 times sales, an attractive discount compared to the three-year average of 17.1 times sales. That’s why this growth stock is worth buying.

2. Etsy

The e-commerce industry is fiercely competitive, but Etsy created a niche for itself by catering to small sellers and focusing on non-commoditized products. Its marketplace features unique and creative goods across a broad range of shopping categories, from apparel and jewelry to home décor and beauty.

Better yet, Etsy sellers will often personalize or customize items for individual buyers, providing a level of service rarely found in the retail industry. That value proposition clearly resonates with consumers, as Etsy ranks as the fourth-most-visited online marketplace in the United States.

Additionally, the asset-light nature of its business is particularly attractive. While Etsy supports its sellers with services like payment processing and advertising, the company does not engage directly in commerce, which keeps its inventory costs low compared to other retailers. That means Etsy can spend more on product development and marketing. For instance, the company has worked relentlessly to improve search capabilities on its platform.

Turning to financial performance, Etsy disappointed investors with weak results of late, especially compared to the incredible growth it reported during the worst of the pandemic. Third-quarter revenue climbed just 12% to $594 million, and adjusted EBITDA dropped 4% to $168 million. But those figures say more about the economic environment than they do about Etsy.

Post-pandemic Etsy is a much stronger business than pre-pandemic Etsy. The number of active buyers doubled over the last three years, and spend per active buyer climbed 33%.

More importantly, Etsy is well positioned to reaccelerate growth when economic conditions improve and consumer spending rebounds. The company captured less than 3% of its $466 billion addressable market, but its recognizable brand and asset-light business model should help Etsy further increase buyer engagement over time.

Shares trade at 8 times sales, a nice discount to the three-year average of 10.9 times sales. That is a buying opportunity for long-term investors.

Trevor Jennewine has positions in Etsy. The Motley Fool has positions in and recommends Etsy, HubSpot, and Salesforce. The Motley Fool has a disclosure policy.

Source: https://www.fool.com/investing/2023/01/27/bull-market-is-coming-2-growth-stocks-down-to-buy/

Yahoo fait partie de la famille de marques Yahoo.

January 27, 2023January 27, 2023 admin_coinvest

Nous, Yahoo, faisons partie de la famille de marques Yahoo.

En cliquant sur ‘Accepter tout’, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicités et des contenus personnalisés, et à des fins de mesure des publicités et des contenus, d’étude des audiences et de développement de produit.

Informations personnelles pouvant être utilisées

Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP

Navigation et recherche lors de l’utilisation des sites Web et applications Yahoo

Votre position exacte

En cliquant sur Refuser tout, vous refusez tous les cookies non essentiels et technologies similaires, mais Yahoo continuera à utiliser les cookies essentiels et des technologies similaires. Sélectionnez Gérer les paramètres pour gérer vos préférences.

Pour en savoir plus sur notre utilisation de vos informations, veuillez consulter notre Politique relative à la vie privée et notre Politique en matière de cookies. Vous pouvez modifier vos choix à tout moment en consultant vos paramètres de vie privée.

paramètres de vie privée

Source: https://finance.yahoo.com/news/stock-market-news-live-updates-january-24-2023-124838806.html

Why Southwest Airlines Stock Is Falling Today

January 27, 2023January 27, 2023 admin_coinvest

What happened

The high-profile meltdown Southwest Airlines (LUV -3.17%) experienced over the December holiday season impacted the company’s fourth quarter a lot more than analysts had predicted, causing results to miss expectations. Investors don’t like surprises, and shares of Southwest were down 5% as of 11:27 a.m. in the wake of the company’s Q4 report.

So what

We knew going into earnings season that Southwest had a difficult quarter. A winter storm that hit much of the United States during the holiday travel period caused a system meltdown at the carrier, leading to the cancellation of more than 16,000 flights. In early January, Southwest updated its guidance for Q4 as a result of the storm. But analysts still underestimated the impact.

Southwest reported a loss of $0.38 per share in the quarter, significantly worse than the $0.09-per-share loss that analysts had forecast, on revenue of $6.17 billion that slightly missed expectations. The airline said that the “operational disruption” that occurred in December impacted results by about $800 million before taxes.

Southwest is still trying to pick up the pieces and figure out what went wrong.

“We have swiftly taken steps to bolster our operational resilience and are undergoing a detailed review of the December events,” CEO Bob Jordan said in a statement. “In addition, our board of directors has established an operations review committee that is working with the company’s management to help oversee the company’s response.”

Now what

Southwest anticipates posting a loss in the first quarter, which is historically the quietest period of the year for airline stocks, but the company has seen an uptick in demand heading into March and the beginning of spring break season.

The airline is hardly the first to run into operational issues, and if past experience is any indication, consumers have a short memory when it comes to events like this, and traffic typically rebounds rather quickly. But Southwest has positioned itself as a more customer-friendly airline, and it remains possible that consumer blowback could be pronounced due to Southwest’s unique status in the industry.

There is already a lot at stake heading into Southwest’s first-quarter earnings presentation in April. Until we know more, it appears a lot of investors would rather watch from the sidelines.

Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool recommends Southwest Airlines. The Motley Fool has a disclosure policy.

Source: https://www.fool.com/investing/2023/01/26/why-southwest-airlines-stock-is-falling-today/

2 Market-Beating Stocks to Buy in 2023 and Hold for 10 Years

January 27, 2023January 27, 2023 admin_coinvest

What will the world look like in a decade? It’s hard to predict that with great accuracy, but for investors it’s helpful to focus on the knowledge that the stock market has generally generated solid returns over such periods. It seems highly plausible that the same thing will happen over the next 10 years.

The key to cashing in on that trend is to invest in great companies and hold their shares even through downturns and periods of heightened volatility, such as the one we have experienced over the past year.

With that in mind, let’s expand on two stocks that have what it takes to deliver superior returns in the next 10 years: Novo Nordisk (NVO -0.97%) and Merck (MRK -1.58%).

1. Novo Nordisk

Novo Nordisk is based in Denmark and has a knack for developing innovative medicines in diabetes and obesity care, something it has done consistently for the past few decades. Two of the company’s key products at the moment are Rybelsus and Ozempic, both of which fall in the category of glucagon-like peptide 1 (GLP-1) agonists. These allow type 2 diabetes patients to control their blood sugar levels by helping them produce more insulin.

The GLP-1 agonists market is competitive, with multiple options available to patients. But Novo Nordisk is currently the undisputed leader thanks partly to Rybelsus and Ozempic, the former of which was first approved in the U.S. in 2019, with the latter first earning the green light in the country in 2017. Novo Nordisk had a 55.7% share of the GLP-1 market as of August, an improvement of 3.6% year over year.

Novo Nordisk’s dominance in this area is a good sign for the future. Unfortunately, diabetes is a growing problem. Projections have it that it will only become more prevalent in the decades to come. There will be an even greater need for innovative options for diabetes patients. Novo Nordisk will continue to be a key player in this space, and the company’s pipeline demonstrates precisely that.

The company currently has 15 pipeline programs in diabetes or obesity, a third of which are in late-stage studies. One of Novo Nordisk’s most exciting candidates is Icodec, an investigational weekly insulin product; patients typically take insulin daily, so this could be a major improvement. Icodec has already demonstrated solid results in clinical trials. Novo Nordisk plans to submit regulatory applications sometime this year.

And there will likely be many more products, too. Novo Nordisk is seeking to expand its lineup and increase diversity. It has more than a dozen non-diabetes or obesity programs, including about half a dozen in phase 3 studies. The company is targeting rare illnesses like sickle cell disease (a blood-related condition) and more common but difficult-to-treat conditions such as Alzheimer’s disease.

Novo Nordisk’s dominance in diabetes and efforts to innovate elsewhere should result in regular new approvals and improving revenue, profits, and share price.

2. Merck

Pharma giant Merck boasts products in multiple therapeutic areas. The company is best known for its blockbuster drug Keytruda. But although this cancer medicine is Merck’s most important asset, the company has other key products within its vaccine business and animal health segment.

Last year, Merck’s stock easily outperformed the market thanks to the company’s solid financial results. In the third quarter, revenue increased 14% year over year to $15 billion, an impressive result for a pharma giant, especially considering the negative impact of currency rate movements. Merck’s sales jumped 18% in constant currency. The company’s adjusted earnings per share rose 4% (7% in constant currency) to $1.85.

Keytruda was, once again, the star of the show, accounting for a little over a third of Merck’s sales at $5.4 billion, an increase of 20% compared with the year-ago period. Merck’s crown jewel is set to lose patent exclusivity in 2028. However, the medicine is still being investigated in plenty of clinical trials. It should continue to earn indications and grow its sales at a good clip until then.

In June 2022, Merck reported that it had reached the milestone of 1 million commercial patients with Keytruda, and the company is on track to double that total by 2024. And a potential subcutaneous formulation of the medicine could help extend its patent exclusivity. Some of Merck’s other products should also continue performing well, including its HPV vaccine Gardasil, whose sales the company expects to continue growing at a good clip through 2030.

Elsewhere, Merck is seeking to earn new approvals. One key candidate it is working on is sotatercept, a potential therapy for pulmonary arterial hypertension (PAH). Merck inherited sotatercept through its 2021 acquisition of Acceleron Pharma for $11.5 billion in cash. With a five-year mortality rate of 43%, there is a dire need for new treatment options for patients with PAH.

In October, Merck reported positive results from a phase 3 clinical trial for sotatercept, so a regulatory submission could come soon. And of course, the company has many other programs in its pipeline. Merck’s consistent revenue and profits and ability to rack up new approvals make it a solid pharma stock to buy and hold for the next decade.

Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Merck. The Motley Fool recommends Novo Nordisk A/s. The Motley Fool has a disclosure policy.

Source: https://www.fool.com/investing/2023/01/26/2-market-beating-stocks-to-hold-for-10-years/

US stocks jump as investors cheer upbeat GDP data and strong Tesla earnings

January 26, 2023January 26, 2023 admin_coinvest

Jennifer Sor

trader nyse celebrate happy fist bump

Reuters / Brendan McDermid

US stocks jumped Thursday as investors cheered strong GDP data and Tesla earnings.

GDP grew 2.9% over the fourth quarter, above estimates of 2.8%.

Tesla rallied almost 11% after posting record results after the bell on Wednesday.

Loading Something is loading.

Thanks for signing up!

Access your favorite topics in a personalized feed while you’re on the go.

US stocks jumped on Thursday as investors cheered a surprise upside in fourth quarter GDP, bucking some fears of a looming recession.

All three indexes ended the day in the green, with a gain in the Nasdaq Composite led by Tesla, which jumped almost 11% on Thursday after beating earnings estimates and posting record revenue figures.

GDP grew 2.9% annualized over the fourth quarter, according to the Commerce Department, above the 2.8% estimated by economists.

Tesla, meanwhile, reported a record revenue of $24.32 billion over the last quarter, above estimates of $24.16 billion.

Analysts from Goldman Sachs and Wedbush reiterated their “Buy” rating for the EV maker, and predicted shares would rally 38% this year to $200. JPMorgan, though, rated Tesla as “Underweight,” citing disappointing profit margins. The bank predicted shares would slide 24% to $120 this year.

Here’s where US indexes stood at the 4:00 p.m. closing bell on Thursday:

S&P 500: 4,060.43, up 1.1%

Dow Jones Industrial Average: 33,949.41, up 0.61% (205.57 points)

Nasdaq Composite: 11,512.41, down 1.76%

Despite the positive surprise in GDP, some economists warned that the US is not out of the woods when it comes to a recession.

“The economy grew decently in 2022 — the fears of a recession underway in the first half of last year were misplaced. However, the picture is different looking forward. The trend in real GDP weakened into year-end, and other economic indicators suggest the economy was on the cusp of contracting at the turn of the year,” Comercia Bank chief economist Bill Adams said in a statement on Thursday. “Financial indicators like the inverted yield curve also signal a strong likelihood of a recession ahead,” he added.

“Headline GDP was very strong beating consensus suggesting robust economic activity and if recession were to materialize a softer recession. However, the drivers behind this growth are far from ideal,” Ash Alankar, the head of global asset allocation at Janus Henderson Investors said in a statement.

Alankar noted that personal consumption came in below expectations and the personal savings rate came in above expectations, a sign that consumers are already pulling back from spending out of caution.

Here’s what else is going on:

FTX aims to ask Sam Bankman-Fried’s parents and brother if they got any money from the collapsed crypto exchange, lawyers said.

The New York Times, Stanford University, Coinbase, and Netflix are among FTX’s creditors, according to a recent court filing.

Chinese electric-vehicle stocks rallied as Elon Musk says Tesla’s biggest rival is coming from China.

Tesla may be able to weather an economic storm, but some of its guidance figures aren’t adding up, Gene Munster said.

Tesla stock could rally 38% this year after its upbeat earnings report, Wedbush said.

Natural gas prices hit their lowest level since April 2021, and have crashed 70% from highs of last year.

Chevron wowed investors with a massive $75 billion stock buyback, which at current prices, would retire about 20% of the company’s shares.

In commodities, bonds, and crypto:

Oil prices climbed, with West Texas Intermediate up 1.17% to $81.08 a barrel. Brent crude, the international benchmark, inched higher 1.59% to $84.49 a barrel.

Gold edged lower 0.65% to $1,930 per ounce.

The 10-year Treasury yield ticked higher by three basis points to 3.498%.

Bitcoin moved higher by about 1% to $23,073.41.