Skip to content
J&J Chief Scientific Officer Dr. Paul Stoffels says the vaccine being produced needs a minimum 70% efficacy to be considered successful....
(Bloomberg) -- Hertz Global Holdings Inc. is asking a bankruptcy judge to let it take advantage of the quixotic surge in its stock by selling up to $1 billion of new shares.Stockholders of bankrupt companies typically get wiped out, but after an enormous two-week rally, the car renter envisions offering as many as 246.78 million common shares with help from Jefferies LLC, according to a court filing. Those shares may wind up worthless, too, Hertz said, but in the meantime it would get some much-needed working capital. Judge Mary Walrath set a hearing for Friday to consider the idea.Investors are bidding up Hertz and other bankrupt companies on optimism that the economy and specifically air travel is poised to rebound. Hertz might also benefit from prices of used cars at auctions coming all the way back from a mid-April collapse. The shares surged as much as 70% before the start of...
[Editor's note: "10 Stocks With Little or No Debt to Own for the Next 50 Years" was previously published in March 2020. It has since been updated to include the most relevant information available.]Surf the net and you'll find lots of stories about the best stocks to own. Some will be for the next year, five years, or even 10 years. Very few, however, will offer up ideas for the next half-century. In part, that's because investing today has become a "What have you done for me lately?" kind of business. Also, because so many companies have disappeared over the years, it's futile to guess who's going to stick around.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe average S&P 500 company had a tenure of 33 years in 1965. In 1990, that dropped to 20 years. By 2026, it's forecast to fall to 14 years. * 7 Great Biotech...
(Bloomberg) -- His company has sent his net worth soaring to $7.4 billion, but Trevor Milton is frustrated.The executive chairman of Nikola Corp. is under siege from skeptics of the company he started in 2014 with the goal of revolutionizing the trucking industry. The doubters who have him particularly down are criticizing him for taking orders for hydrogen fuel cell-powered semis and saying they’re worth $10 billion.The number has come under scrutiny for a few reasons. For starters, reservations for Nikola’s truck cost nothing. Milton says the company took money initially but paid it all back after Tesla Inc. got criticized for funding itself a similar way.“We had deposits with thousands and thousands of trucks, and we just decided, ‘You know what, it’s not worth people thinking that we’re a Ponzi scheme, fake startup that’s using people’s money,’” Milton said in an interview Thursday from his Utah ranch.Now, with 14,000 orders...
Since filing for bankruptcy on May 22, Hertz's shares have risen more than threefold in value. Hertz is now seeking approval from a bankruptcy court to potentially sell 246.78 million unissued shares to Jefferies LLC. "The recent market prices of and the trading volumes in Hertz's common stock could potentially present a unique opportunity for the debtors to raise capital on terms that are far superior to any debtor-in-possession financing," the company said in a regulatory filing on Thursday....
Using the Energy Select Sector SPDR ETF (NYSEARCA:XLE) as a barometer, it's accurate to say oil stocks are enjoying a near-term renaissance. XLE, the largest exchange-traded fund dedicated to the energy sector, climbed 24% higher this month.That's undeniably good news, although recent price action has shaken up the chart. But this news isn't perfect. The issue is the point from which oil stocks are rallying, and how much more work they have to do. Year-to-date, each of the 10 worst-performing ETFs either have some oil exposure or are directly linked to crude.With prices still low and demand only recently showing signs of life, the energy sector still has a lot of work to do to reclaim lost glory. Another issue to consider is the resiliency of some energy companies. No, the likes of Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) aren't on the brink. But some energy producers are.InvestorPlace - Stock Market...
