Ally Financial (ALLY) Upgraded to Buy: Here’s Why

Ally Financial (ALLY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates — one of the most powerful forces impacting stock prices — has triggered this rating change.

The sole determinant of the Zacks rating is a company’s changing earnings picture. The Zacks Consensus Estimate — the consensus of EPS estimates from the sell-side analysts covering the stock — for the current and following years is tracked by the system.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

As such, the Zacks rating upgrade

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How mass incarceration creates ‘a tremendous amount of financial exploitation’

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This is part 2 of Yahoo Finance’s Illegal Tender podcast about the for-profit prison industry. Listen to the series here. 

Mass incarceration has proven to be a business opportunity as the U.S. prison population increased by 500% over the last 40 years.

There are currently almost 2.3 million people behind bars, with the prison industry generating upwards of $80 billion a year. Much of that money is made from incarcerated individuals and their families. 

“There is a tremendous amount of financial exploitation and predation on the part of corporations on all people who are incarcerated and their loved ones, regardless of the facility operational structure,” Bianca Tylek, executive director of Worth Rises, said on Yahoo Finance’s Illegal Tender podcast. 

There are industries making money off of people losing their freedom in this country’

Tylek explained that money is made in numerous ways

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Asian Financial Leaders Agree to Make ‘All Policy Efforts’ to Fight Pandemic | Investing News

TOKYO (Reuters) – Financial leaders from China, Japan, South Korea and Southeast Asia vowed on Friday to redouble their efforts to help the region recover economically from the novel coronavirus and to defend a multilateral system of trade and investment.

“We will remain vigilant to the continued downside risks … We are taking steps to reduce vulnerabilities to these risks and are determined to continue to use all available policy tools to support the sustained recovery,” they said in a joint statement.

“We will remain resolute in our commitment to uphold an open and rule-based multilateral trade and investment system, and strengthen regional integration and cooperation.”

The statement followed the annual meetings of finance ministers and central bank governors from China, Japan, South Korea and the 10-member Association of South East Asian Nations (ASEAN). The meetings were held via teleconference on the sidelines of the annual gathering of the Asian

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MindMed Submits Application For NASDAQ Up-Listing, Appoints Canaccord Genuity As Financial Advisor

NEW YORK, Sept. 21, 2020 /CNW/ — Mind Medicine (MindMed) Inc. (NEO: MMED)(OTCQB: MMEDF)(DE: MMQ), the leading drug development company for psychedelic inspired medicines, is evaluating an expanded United States investor base through an up-listing on the NASDAQ Capital Market (“NASDAQ”).

Mindmed logo (PRNewsfoto/Mind Medicine, Inc. (Mindmed))
Mindmed logo (PRNewsfoto/Mind Medicine, Inc. (Mindmed))

As part of this up-listing strategy in the United States, MindMed has submitted an application to list its subordinate voting shares on NASDAQ.  The listing of MindMed’s shares on NASDAQ will be subject to a number of regulatory requirements, including review of the company and acceptance for listing by NASDAQ.  There can be no assurance that NASDAQ acceptance will be granted.

MindMed has appointed Canaccord Genuity Corp. (“Canaccord Genuity”) as financial advisor to assess the viability of a potential up-listing to NASDAQ and also help to evaluate M&A opportunities available to the company.

MindMed Co-Founder and Co-CEO JR Rahn said “The

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AM Best Assigns Issue Credit Rating to OneAmerica Financial Partners, Inc.’s Senior Unsecured Notes


What Investors With $3.4 Trillion Are Buying During Covid

(Bloomberg) — Hotels, pipelines, convenience stores and automaker bonds are among the assets being bought by some of the world’s biggest asset managers as they look for value in a world thrown into turmoil by the coronavirus pandemic.In interviews with sovereign wealth funds, pension firms and asset managers across Asia and Europe that collectively manage about $3.4 trillion, one thing was clear: many of them are avoiding the overheated stock market.The most common outlook was one of caution. They are mindful that much of the rebound in markets and private-company valuations is thanks to ultra-low interest rates, massive central bank stimulus and government fiscal support, some of which could start to be wound back in coming months.With asset values still seen as inflated, even in some hot areas like healthcare and technology, many are waiting for a potential second downturn

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The next financial crisis may sneak up on investors: Deutsche Bank

Peter Hooper, Deutsche Bank Global Head of Economic Research, joins Yahoo Finance’s Zack Guzman to discus why he believes a financial crisis could surprise investors ‘sooner rather than later.’

Video Transcript

ZACK GUZMAN: One warning note want to highlight here today from Deutsche Bank, highlighting the fact that this sell-off could be a surprise for investors. It could be hitting sooner rather than later. People have feared a potential uptick in cases later on this year and election volatility. But things clearly today and this week in Monday’s session here proving it could catch a lot of investors flat-footed.

And here to discuss that with us is Peter Hooper, Deutsche Bank Global Head of Economic Research. And Peter, I mean, just explain to me what’s– what’s going on here today, because what’s strange to me is a little bit of this rotation. We had normally seen tech leading the volatility

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Strong City vows to emerge from financial troubles so it can better serve Baltimore’s nonprofit organizations

Leadership of the non-profit Strong City vowed again Monday to emerge from its troubles and be transparent with grassroots groups who say their operations were upended through poor financial management.

a man wearing a suit and tie: Strong City Baltimore Interim CEO Reginald Davis speaks outside the organization’s headquarters on Monday.

© Kimberly Hairston / Baltimore Sun/The Baltimore Sun/TNS
Strong City Baltimore Interim CEO Reginald Davis speaks outside the organization’s headquarters on Monday.

“Our board, leadership, staff have been working tirelessly to identify, isolate and address our challenges,” interim CEO Reginald Davis said at a news conference, flanked by the group’s board of directors. “This work is not easy, nor does it happen instantaneously, but we are confident these changes will allow us to continue innovating, disrupting, advancing and empowering Baltimore city.”

a man wearing a suit and tie talking on a cell phone: Strong City Baltimore Interim CEO Reginald Davis spoke outside the organization’s headquarters on Monday and vowed to overcome missteps and restore the organization's ability to better provide financial and support services to non-profit organizations.

© Kimberly Hairston / Baltimore Sun/The Baltimore Sun/TNS
Strong City Baltimore Interim CEO Reginald Davis spoke outside the organization’s headquarters on Monday and vowed to overcome missteps and restore the organization’s ability to better provide financial and support services

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First Financial Corp. Sees Hammer Chart Pattern: Time to Buy?


These 2 Penny Stocks Could Rally All the Way to $11, Says Cantor

Is more volatility on tap for stocks? Following a three-week losing streak, the longest in about a year, all eyes are on the market. The three major U.S. stock indexes have struggled for the last few weeks as the titans of tech, which have fueled the charge forward from COVID-induced lows, came under pressure due to overheated valuations, with market watchers waiting to see how renewed lockdown fears will come into play.So, what’s the bottom line for investors? Even though uncertainty remains as Wall Street gears up for the fourth quarter, the pros are pounding the table on a select few names, noting that these tickers boast strong long-term growth narratives.Bearing this in mind, our focus shifted to two penny stocks backed by investment firm Cantor. Major gains could be in store, as the firm’s analysts

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OTC Markets Group Announces Agenda for Financial Services Virtual Investor Conference on September 24th

NEW YORK, Sept. 21, 2020 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming OTC Financial Services Conference.  Individual investors, institutional investors, advisors and analysts are invited to attend.

(PRNewsfoto/OTC Markets Group (Investor Con)

The conference will begin at 9:15 AM ET with a keynote presentation from Ed Mills, Managing Director – Washington Policy with Raymond James. The event will include presentations by senior representatives of banks and companies in the financial services industry as well as live question-and-answer sessions with investors.  Investors will be able to interact directly with company executives via interactive chat and download annual reports, investor kits, surveys and other information in a virtual “trade booth,” providing convenient access to company management in an online environment.  

“We are proud to highlight a diverse roster of financial services industry leaders and welcome esteemed keynote

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A financial crisis could surprise investors ‘sooner rather than later,’ warns Deutsche Bank



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Excuses/reasons to sell? The stock market’s giant vat of worries is spilling over on Monday.

Global banks are tanking over allegations of a money-laundering scandal, second-wave COVID-19 worries, and a possible delay to badly needed fiscal stimulus in the U.S., due to political tussling after the death of Supreme Court Justice Ruth Bader Ginsburg.

Our call of the day from Deutsche Bank has some good news and some not-so-great news for investors. As always, first the good.

“As Q3 draws to a close, we estimate that the level of global gross domestic product is about halfway back to its pre-virus level, and we now see that journey being completed by the middle of next year, a couple of quarters sooner than our previous forecast,” said a team led by Peter Hooper, global head of economic research, in the bank’s just-released World

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