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(Bloomberg) -- Fannie Mae could be worthless to public shareholders, according to its newest analyst.Federal National Mortgage Association drew an underperform rating and a price target of zero dollars from Wedbush analyst Henry Coffey, who started coverage Tuesday. In May the Federal Housing Finance Agency proposed that Fannie Mae and fellow mortgage giant Freddie Mac be required to hold hundreds of billions of dollars in capital to guard against losses.Despite the “tremendous underlying value” in the company, any recapitalization of Fannie Mae is likely to result in substantial dilution to public shareholders, Coffey wrote in a report. He is one of two sell ratings among six analysts tracked by Bloomberg. The shares closed Tuesday at $2.09.“Our estimates suggest that in the process of recapitalizing Fannie Mae, there will be little or no value left over for current public shareholders, and that any residual value accruing to them will be greatly diluted...
Yahoo Finance talks about the road to recovery from the COVID-19 pandemic for cruise giant Carnival Corp. with CEO Arnold Donald....
(Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk unlocked the second chunk of his moonshot pay award.The electric-car maker’s average trailing market value over six months rose above $150 billion on Tuesday, according to data compiled by Bloomberg, despite a dip in the company’s share price. That means Musk is now able to exercise an additional 1.69 million stock options, though he must wait at least five years before he can sell them.The options have a strike price of $350.02, meaning he would reap a $2.1 billion gain if he exercised and could immediately sell the shares.Musk unlocked the first tranche of the award in May, when Tesla’s average six-month market value topped $100 billion. The company’s shares have more than doubled since then, and the company is now worth more than Toyota Motor Corp., Volkswagen AG and Hyundai Motor Co. combined.Musk’s compensation package -- the largest corporate pay deal...
Immutep Limited (ASX:IMM) has rebounded strongly over the last week, with the share price soaring 45%. But don't envy......
(Bloomberg) -- Texas Instruments Inc. projected third-quarter revenue that topped analysts’ estimates, indicating the company is seeing increased orders from customers trying to cushion themselves against any supply disruptions as the coronavirus pandemic drags on.Earnings will be $1.14 to $1.34 a share, on revenue of $3.26 billion to $3.54 billion, in the period ending in September, the Dallas-based chipmaker said Tuesday in a statement. On average, analysts predicted profit of 98 cents and sales of $3.07 billion, according to data compiled by Bloomberg.Texas Instruments, which has the broadest customer list and biggest product catalog in the industry, is benefiting from greater-than-anticipated inventory purchasing by its clients, executives said on a conference call. The company is the first major U.S. manufacturer to report earnings. Its reach gives investors a forward look into demand for everything from space hardware to home electronics.“The business has certainly troughed and is starting to show signs of...
