$0.32 Earnings Per Share Expected for Plains GP Holdings LP (PAGP) This Quarter

Brokerages forecast that Plains GP Holdings LP (NYSE:PAGP) will announce earnings of $0.32 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Plains GP’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.49. Plains GP posted earnings per share of $0.16 during the same quarter last year, which suggests a positive year over year growth rate of 100%. The business is expected to report its next quarterly earnings report on Monday, August 6th.

According to Zacks, analysts expect that Plains GP will report full year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.00 to $1.79. For the next year, analysts expect that the company will post earnings of $1.70 per share, with EPS estimates ranging from $1.24 to $2.18. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Plains GP.

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Plains GP (NYSE:PAGP) last posted its quarterly earnings data on Tuesday, May 8th. The pipeline company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.08). Plains GP had a positive return on equity of 0.70% and a negative net margin of 2.63%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the business posted $0.34 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis.

PAGP has been the subject of several research analyst reports. Bank of America lowered their price objective on Plains GP from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Deutsche Bank assumed coverage on Plains GP in a research note on Thursday, April 19th. They issued a “buy” rating and a $29.00 target price for the company. Morgan Stanley upgraded Plains GP from an “equal weight” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Tuesday, February 13th. Robert W. Baird set a $22.00 target price on Plains GP and gave the company a “hold” rating in a research note on Wednesday, February 7th. Finally, Zacks Investment Research upgraded Plains GP from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.65.

A number of hedge funds have recently added to or reduced their stakes in the business. Catalyst Capital Advisors LLC boosted its stake in Plains GP by 0.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 324,183 shares of the pipeline company’s stock valued at $7,051,000 after purchasing an additional 2,793 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Plains GP by 12.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 19,567 shares of the pipeline company’s stock worth $426,000 after buying an additional 2,107 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Plains GP by 34.3% during the 1st quarter. Royal Bank of Canada now owns 1,142,961 shares of the pipeline company’s stock worth $24,859,000 after buying an additional 292,147 shares in the last quarter. Atlantic Trust Group LLC lifted its position in shares of Plains GP by 23.2% during the 1st quarter. Atlantic Trust Group LLC now owns 1,749,974 shares of the pipeline company’s stock worth $38,062,000 after buying an additional 329,763 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Plains GP by 12.1% during the 1st quarter. Legal & General Group Plc now owns 83,762 shares of the pipeline company’s stock worth $1,821,000 after buying an additional 9,051 shares in the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.

Plains GP opened at $23.78 on Friday, Marketbeat.com reports. Plains GP has a 1-year low of $18.98 and a 1-year high of $27.75. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.86 and a quick ratio of 0.73. The stock has a market capitalization of $3.72 billion, a PE ratio of 41.60 and a beta of 1.23.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, April 30th. This represents a $1.20 dividend on an annualized basis and a yield of 5.05%. Plains GP’s dividend payout ratio (DPR) is currently 184.62%.

Plains GP Company Profile

Plains GP Holdings, L.P. owns and operates midstream energy infrastructure in the United States and Canada. It operates through three segments: Transportation, Facilities, and Supply and Logistics. The Transportation segment engages in the transportation of crude oil and natural gas liquids (NGLs) on pipelines, gathering systems, trucks, and barges.

Get a free copy of the Zacks research report on Plains GP (PAGP)

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3 Innovative Medical Technology Companies Shaking Up the Diabetes Market

DexCom Inc. (NASDAQ:DXCM), Insulet (NASDAQ:PODD), and Tandem Diabetes (NASDAQ:TNDM) are working on new medical devices that could significantly improve the lives of people with diabetes. Addressing this massive market is a big opportunity, but are these stocks worth adding to your portfolio?

In this clip from�Industry Focus: Healthcare, analyst Kristine Harjes and Motley Fool contributor�Todd Campbell explain how smarter continuous glucose monitors and insulin pumps are disrupting patient treatment.

A full transcript follows the video.

This video was recorded on May 23, 2018.

Kristine Harjes: I already started to intro our next company as the first company to get a CGM approved. This one is Dexcom, their ticker is DXCM. They're a much smaller company, around a $7.5 billion market cap. About a decade ago, they were able to achieve this distinction of being the first FDA-approved maker of a continuous glucose monitor, which was pretty revolutionary. We mentioned Abbott's system, and how that was very disruptive. Where does that leave Dexcom? Are they old news now, or are they still able to compete?

Todd Campbell: A lot of people were very concerned about what this would mean for Dexcom. Now, Dexcom is 100% exposed to the diabetes marketplace, so this would be a pure-play within the area. They were pioneers and remain, I think, pioneers in CGM technology. They have taken an agnostic approach to developing CGMs, meaning that they want their CGM to be able to be used with whatever insulin pump or insulin delivery device a patient chooses. That could be an advantage for Dexcom longer-term.

They closed the gap to the FreeStyle Libre earlier this year when the FDA approved their latest generation CGM, that's the G6. The G6 also doesn't require finger sticks for calibration. It does have one advantage in that the FDA approved it to be interoperable with other devices. That's the first time the FDA has given that kind of a nod in its language to one of these CGMs. That means that this CGM can be used, again, agnostically, with other insulin pumps made by other companies we're going to talk about in a second, or even with apps that are developed for smartphones, etc.

Harjes: Right. I'll add one other distinction that Dexcom has going for it. In a head-to-head study of the G5, which was its previous system, vs. the FreeStyle, which was Abbott's system, it showed that the G5 actually outperformed in terms of time required to detect hypoglycemia. That study just came out earlier this year and should be a little bit of a tailwind for them in trying to compete with Abbott. But, I also truly don't think that the winner that comes out on top is necessarily going to be the only winner. This is an enormous market, as we led off with at the very beginning of the episode, so I can see room for multiple winners.

Campbell: That's an awesome point. On the FreeStyle Libre, Abbott is saying that they're adding, I think, 50,000 patients a month. This is a huge market. And two-thirds of those patients, I think, are type 1, and one-third is type 2. We're barely scratching the surface in type 2 diabetes for CGMs.

I think, as these machines get more savvy, smaller, more efficient, more easily used, and potentially cheaper, payers are going to begin to reimburse them more widely. Just to put it in context, too, with the FreeStyle Libre being on the market, Dexcom still delivered year over year growth in the first quarter of 30%. That was $184 million in revenue. This year, they're guiding for sales of $850-860 million. So, despite the threat from Abbott, it's not like this company is seeing a deceleration in its sales.

Harjes: Those are your CGM makers. Let's move on and talk a little bit about the insulin pump makers themselves. One of them that we want to highlight is called Insulet, ticker PODD. They're a $5 billion market cap company, and they make something that's called the Omnipod Insulin Management System.

Campbell: These are really cool devices. They look a little bit like the old AirPort that was made by Apple, they're kind of a saucer-like device. They're relatively small, though, and you can stick them on your skin to deliver insulin directly into your body. You can wear them for up to three days. It's a very freeing device. I happen to know someone, a neighbor who's a young 15-year-old, very active, and he wears one and absolutely loves it. It's paired up, typically, with a CGM. Oftentimes, it's being paired up with CGMs that are made by Dexcom. Its sales last year, in 2017, grew 26% to $460 million. And, thanks to some new Medicare reimbursement coverage, sales should grow to between $565-580 million this year. That's up 22-25%.

So, again, a pure-play insulin pump maker that also, intriguingly, wants to challenge Medtronic. They're developing their own closed-loop system. We talked a little bit about Medtronic and their 670G, which is their artificial pancreas system. Well, Insulet is developing its own. That system will be pairing up its pods with Dexcom's CGM. And according to management, they plan on incorporating, over time, the latest Dexcom that just got approved, the G6.

Harjes: There are several different intriguing partnerships and overlaps between some of these businesses. It's actually difficult to pick apart who's going to head-to-head as a competitor and who's playing nice with interoperability and working together to develop things, because all of these companies are fairly closely tied together.

You mentioned reimbursement. I do want to stress that that's actually a really important point to look into for each of these companies. When a new device is approved, that doesn't necessarily mean that it's going to be covered, particularly by Medicare and Medicaid, which cover an enormous amount of patients. So, you'll see in some of the earnings reports and press releases for these companies that they will highlight, "Our newest device just got approved for coverage by Medicare Part D prescription drug benefit program." That's always really good news to see. So, another key development to look out for with all of these companies.

Campbell: Right, because otherwise you're paying for this stuff out of pocket and it can get pretty costly. It's been one of the things that's held back the penetration of the CGMs, especially, is showing and convincing payers that better control of your blood sugar levels over time will reduce their costs, it's a long-term money-saving thing. We've talked on the show about this in the past, Kristine, how difficult it is, because most people change their insurance within a few years. So, the company may be paying for something now that has a long-term benefit may actually not benefit from that long-term benefit, and maybe it's Medicare or someone else who actually gets the benefit from it.

Harjes: And these are largely razor-and-blade model businesses, which, from the business perspective, is really great. You have the initial sale of the device and then you have disposable consumable elements of it that produce recurring revenue. But, if you look at that from the payer side, maybe that's not quite as good, because that means that you're going to be on the hook for paying for not just the device, but also all of the consumables that go along with it.

The last company that we want to talk about today is somewhat similar to Insulet in that they are an insulin pump maker. They're called Tandem Diabetes Care, ticker TNDM. Pretty small company here. Actually, I think they're the smallest we've talked about today. They're only a $660 million market cap company. They've been extremely volatile, they have been extremely dilutive of their shareholders. But, they have some partnerships with Dexcom, and they're doing some interesting things.

Campbell: They make the touchscreen t:slim X2 insulin pump. It's the only pump, they claim, that can allow for remote feature updates from a computer. That could be advantageous to people who want to be able to buy it once and be able to get some updates on it. It is, like Dexcom and Insulate, 100% exposed to the diabetes market, so theoretically its demand and sales are going to grow right alongside diabetes growth.

It is also working, like Insulate is, on its own closed-loop artificial pancreas system that could theoretically someday challenge Medtronic. But, we're still probably at least a year away from starting to see that product come on the market, maybe two years, depending on how these trials play out. On that artificial pancreas system, it's also working with Dexcom. It's pairing up Dexcom's CGM with its pump.

You mentioned that it's the smallest of the bunch that we're talking about today, absolutely. Its revenue in the first quarter was much smaller than these other companies. It was about $27 million in the first quarter. In 2017, they only did $108 million in sales. First quarter sales, though, were up 44%. That's good. We'll have to see whether or not they continue to win market share away from these other pump makers.

I think one of the things, though, that we have to remember, Kristine, to tell all of our investors is that these pure-plays that we're talking about? They're all losing money.

Harjes: That's true. It makes them kind of hard to value on traditional metrics. And even when you use stuff like price-to-sales, they actually still look very expensive. I think that's a question worth exploring a little bit. Most of these companies do look like they're extremely expensive. Are there any bargains to be found in this space?

Campbell: Well, bargains are always relative. Right, Kristine? We talk about this when we talk about investing all the time. I think, yeah, it's great if you can buy a stock on sale. But what's more important over a ten or 20 or 30-year long-term time horizon is, how big is the market opportunity, and is there a competitive advantage that could allow one of these companies to win vs. another company.

So, yes, the price-to-sales ratios are elevated on these stocks. You're running anywhere between 5-10X for the pure-plays. But you can justify that if you say to yourself, "Yeah, but, we're only scratching the surface on the tens of millions of patients, theoretically, that could begin to use CGMs and pumps over the course of the next ten to 20 years."

My advice to investors would be, yeah, recognize that if you're a value investor, you're not going to be buying these three pure-plays. You might want to look at Medtronic and Abbott instead. But, if you're a growth investor, stay focused on the big picture, which is that the patient population, the addressable market, is going to climb significantly over the course of the next decade.

Harjes: And if, by chance, you're looking at Tandem specifically because it's so small, and saying, "Why shouldn't they be just as large as Insulet? Let me buy them now," I do want to make sure that I mention, this is a company that, as you mentioned, Todd, is losing money. But, that alone is not a terribly bad thing. That's OK for the place that they are right now in their business cycle.

But, they have a large amount of debt. They have $72 million in cash. Most of that came from an equity offering in February. They have been extremely dilutive. Shares outstanding have risen 900% over the last one year, 400% since just January. This is a company that is fairly early stage relative to a company like Insulet, so they need financing, and they need to take these sorts of actions in order to keep their business running.

So, when you're comparing your stocks, I wouldn't necessarily say, "Hey, these two have the same addressable market, but Tandem is so much cheaper on a market cap basis, let me immediately go for that." I mean, I think it's an interesting company, but it's a lot riskier than the more developed, more mature Insulet, which is, by its own accord, also not going to be as mature and as developed as something like Medtronic.

Campbell: Yeah. Maybe, of the three pure-plays, Dexcom is the more mature. I don't want to say it's less risky, because it's a plenty risky stock, Kristine. [laughs] Just look at its stock price chart over the course of the last three years, right? But, the fact that it's agnostic and it has exposure to both Tandem and to Insulet, maybe that makes it a little bit less risky, because it doesn't matter which one of Insulet or Tandem gets to market first with a competitor to Medtronic's closed-loop system.

3 Stocks Cashing in on Fortnite Fever

For the uninitiated, the battle royale genre, originally popularized by PlayerUnknown's Battlegrounds (PUBG), are video games in which up to 100 players do battle in an effort to be the last person standing, similar to the plot of the 2012 hit movie Hunger Games. When Epic Games released Fortnite last year, the title had mostly positive reviews, but it wasn't until the free-to-play battle royale was introduced several months later that the game really took off.

The surge in popularity of the battle royale genre has created an opportunity for investors to benefit from the craze. Here's why I believe NVIDIA Corporation (NASDAQ:NVDA), Tencent Holdings (NASDAQOTH:TCEHY), and Activision Blizzard (NASDAQ:ATVI) are best positioned to profit from this growing trend.

Image source: Fortnite.

The processor that makes it all possible

NVIDIA may not immediately come to mind as a beneficiary of the Fortnite phenomenon, but the company gains from any increased adoption of gaming, particularly those that call for its industry-leading graphics processing unit (GPU).

In its most recent quarter, NVIDIA's gaming segment grew 66% year over year, making up 54% of the company's $3.2 billion in revenue. Responding to questions about what drove the surprisingly strong performance, NVIDIA's founder and CEO Jen-Hsun Huang credited the growing adoption of the battle royale genre:

As you probably know, Fortnite and PUBG are global phenomena. The success of Fortnite and PUBG are just beyond comprehension, really. Those two games are a combination of Hunger Games and Survivor has just captured imaginations of gamers all over the world. And we saw the uptick and we saw the demand on our GPUs from all over the world.

Huang expects the combination of pent-up demand and new players joining the ranks will continue to invigorate sales.

Brother, can you spare a dime?

China's Tencent may very well be the biggest social media and gaming company you've never heard of, sporting a market cap of nearly $500 billion. Its social messaging service, WeChat, has more than a billion users and mobile gaming is an integral part of the experience. In its most recent quarter, Tencent grew revenue 48% year over year to about $11.7 billion, while profits jumped 61% to about $3.7 billion.�

So how does Tencent stand to gain from the fervor over Fortnite? Simple -- the company owns a 40% stake in Fortnite creator Epic Games, and has developed and recently debuted two similar games in China based on licensed IP from PUBG. Tencent is also seeking government approval to release Fortnite to Chinese gamers.

Since there's no cost for the free-to-play version, Epic Games makes money from the sale of virtual items, such as character costumes and emotes -- emoticons that are used by gamers to express a thought or feeling. Add in the merchandising, and some analysts suggest that Fortnite could generate as much as $2 billion in revenue this year.�

Image source: Activision Blizzard.

They nearly had a Blackout

Video game publisher Activision Blizzard (NASDAQ:ATVI) is known primarily for its megahit World of Warcraft, but the company actually boasts eight $1 billion franchises in its stable of popular games, including such hits as Overwatch, Call of Duty, and Candy Crush.�In its most recent quarter, the company reported record first-quarter revenue, net bookings, and earnings per share of $1.96 billion, $1.38 billion, and $0.65, respectively.�

The company just announced plans to capitalize on the Fortnite frenzy by adding a battle royale mode -- called Blackout -- to Call of Duty: Black Ops 4, which is scheduled to debut in October. In a press release, Activision said: "Blackout, where the Black Ops universe comes to life in a massive battle royale experience featuring iconic characters and locations from all four Black Ops games in a one-of-a-kind offering that is uniquely Black Ops."�

Activision is one of the first major game publishers to announce a battle royale mode for an existing franchise. While there is no way to know for sure how this strategy will play out, the company could be enticing new players to Call of Duty, while providing incentives for current gamers to stay.

The small print

It's important to note that investors shouldn't buy any stock based on its exposure to the battle royale genre. While there is strong demand now, it may turn out to be a fad -- does Pokemon Go ring any bells? On the other hand, it could be the next Minecraft. While each of these companies will benefit from the popularity of Fortnite and other last-person-standing games, they also have existing businesses with strong growth, and any benefit derived from this emerging trend, however long- or short-lived, is just a bonus.

Hot Medical Stocks To Invest In 2019

tags:SBCF,MRCY,NTGR,PNW,CCK,

The pain in her legs was so unbearable that she couldn't muster one more step... let alone the dozen or so needed to make it to her sorority just down the street. She had to call a friend to pick her up.

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Nicole Labonte didn't know what was happening. But this was the first sign that something was clearly wrong, and she needed to see a doctor immediately. A trip to the health center revealed that her blood pressure was astronomically high. After several tests, they finally diagnosed Nicole with a rare vascular disease called Takayasu arteritis, which causes inflammation of the largest blood vessel in the body, the aorta, and its branches.

Vascular diseases, like the one Nicole was diagnosed with, can be difficult to detect. Diseases can appear anywhere in the body in many different forms. In fact, John Hopkins Medical Center estimates that 78 million Americans have the most common form... high blood pressure.

Hot Medical Stocks To Invest In 2019: Seacoast Banking Corporation of Florida(SBCF)

Advisors' Opinion:

• [By Joseph Griffin]

  Here are some of the news articles that may have impacted Accern Sentiment’s analysis:

  Get Seacoast Banking Co. of Florida alerts: Seacoast Banking Co. of Florida (SBCF) EVP Sells $43,249.63 in Stock (americanbankingnews.com) Q2 2018 EPS Estimates for Seacoast Banking Co. of Florida Cut by FIG Partners (SBCF) (americanbankingnews.com) Q2 2018 EPS Estimates for Seacoast Banking Co. of Florida (SBCF) Cut by Analyst (americanbankingnews.com) Zacks Investment Research Lowers Seacoast Banking Co. of Florida (SBCF) to Sell (americanbankingnews.com)

  SBCF has been the subject of several recent research reports. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, March 28th. ValuEngine raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Saturday, April 21st. BidaskClub raised shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Guggenheim reissued a “hold” rating and issued a $28.00 price objective on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 31st. Finally, Hovde Group raised shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $30.00 to $29.00 in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $29.00.

Hot Medical Stocks To Invest In 2019: Mercury Systems Inc(MRCY)

Advisors' Opinion:

• [By Steve Symington]

  Shares of Mercury Systems Inc. (NASDAQ:MRCY) were down 10.2% as of 2:20 p.m. EDT Wednesday after the defense electronics contractor announced weaker-than-expected fiscal third-quarter 2018 results.

• [By Max Byerly]

  Mercury Systems (NASDAQ: MRCY) and Vishay Intertechnology (NYSE:VSH) are both computer and technology companies, but which is the better stock? We will compare the two companies based on the strength of their dividends, valuation, analyst recommendations, profitability, risk, earnings and institutional ownership.

• [By Lisa Levin]

  Shares of Mercury Systems, Inc. (NASDAQ: MRCY) were down 19 percent to $34.7483 as the company posted downbeat Q3 results.

  HFF, Inc. (NYSE: HF) was down, falling around 13 percent to $40.90 following weaker-than-expected quarterly results.

Hot Medical Stocks To Invest In 2019: NETGEAR, Inc.(NTGR)

Advisors' Opinion:

• [By Steve Symington]

  Netgear�(NASDAQ:NTGR)�announced stronger-than-expected first-quarter 2018 results on Wednesday after the market closed, highlighting robust demand for its network security cameras and stronger profitability from its Connected Home segment, as well as continued progress toward the�impending separation of Arlo into its own publicly traded company.

• [By Ethan Ryder]

  ValuEngine upgraded shares of Netgear (NASDAQ:NTGR) from a hold rating to a buy rating in a research report sent to investors on Wednesday.

  A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Netgear from a strong-buy rating to a strong sell rating in a research report on Wednesday. Guggenheim reiterated a buy rating and issued a $76.00 price target on shares of Netgear in a research report on Friday, April 27th. BidaskClub upgraded shares of Netgear from a buy rating to a strong-buy rating in a research report on Saturday, January 13th. Finally, BWS Financial set a $75.00 price target on shares of Netgear and gave the stock a buy rating in a research report on Friday, January 12th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $73.20.

• [By Steve Symington]

  Shares of Netgear Inc. (NASDAQ:NTGR) fell 10.6% today after the networking hardware specialist delivered strong first-quarter 2018 results�but followed with underwhelming guidance.

Hot Medical Stocks To Invest In 2019: Pinnacle West Capital Corporation(PNW)

Advisors' Opinion:

• [By Joseph Griffin]

  M&T Bank Corp raised its position in Pinnacle West Capital Co. (NYSE:PNW) by 15.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,775 shares of the utilities provider’s stock after purchasing an additional 1,196 shares during the period. M&T Bank Corp’s holdings in Pinnacle West Capital were worth $700,000 at the end of the most recent reporting period.

• [By Ethan Ryder]

  ING Groep NV lifted its holdings in shares of Pinnacle West Capital Co. (NYSE:PNW) by 7.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,423 shares of the utilities provider’s stock after acquiring an additional 800 shares during the quarter. ING Groep NV’s holdings in Pinnacle West Capital were worth $912,000 at the end of the most recent quarter.

• [By Stephan Byrd]

  Atria Investments LLC cut its stake in shares of Pinnacle West Capital Co. (NYSE:PNW) by 49.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,651 shares of the utilities provider’s stock after selling 4,560 shares during the period. Atria Investments LLC’s holdings in Pinnacle West Capital were worth $371,000 as of its most recent filing with the SEC.

• [By Logan Wallace]

  Bank of America upgraded shares of Pinnacle West Capital (NYSE:PNW) from an underperform rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat.com reports. Bank of America currently has $81.00 target price on the utilities provider’s stock. The analysts noted that the move was a valuation call.

• [By Jon C. Ogg]

  Pinnacle West Capital Corp. (NYSE: PNW) was raised to Outperform from Neutral and the price target was raised to $87 from $85 at Credit Suisse.

  Salesforce.com Inc. (NYSE: CRM) was reiterated as Outperform and the price target was raised to $140 from $125 at JMP Securities.

Hot Medical Stocks To Invest In 2019: Crown Holdings, Inc.(CCK)

Advisors' Opinion:

• [By Shane Hupp]

  Crown Holdings (NYSE:CCK) has been assigned an average recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $63.64.

Why USA Technologies Shares Jumped

What happened

Shares of USA Technologies (NASDAQ:USAT) have jumped today, up by 13% as of 12:15 p.m. EDT, after the company reported�it had priced a secondary offering. The $50 million offering had been announced�earlier this month.

So what

The public offering price was $11 per share, and the company sold over 5.4 million shares. The gross proceeds raised from the deal that will go to USA Technologies were approximately $59.8 million before factoring in underwriting discounts and commissions and other expenses associated with the offering. There were an additional 553,000 shares sold by existing shareholders (venture capital firm Foundation Capital); those proceeds will not go to USA Technology.

Image source: Getty Images.

Underwriters have a 30-day option to purchase up to an additional 897,000 shares.

Now what

In the offering's registration�statement, the company says it expects to use the proceeds for "general corporate purposes and working capital to support anticipated growth." The deal will replenish the company's coffers, although existing shareholders will be mildly diluted. USA Technologies had�$17.1 million in cash and cash equivalents at the end of the first quarter.

Foundation Capital had acquired USA Technologies shares after the company bought Cantaloupe�and is selling over half of its position. The fund will still hold 474,000 shares after the offering. USA Technologies expects 2018 revenue to be $138 million to $142 million.

Goldman warns machines will ugly up the next selloff �� but here��s your silver lining

A week that started out pretty fabbo is quickly turning pear-shaped, as the geopolitical roller-coaster gears up to take stocks on a second-day ride lower.

��With earnings mostly over, the market is being driven on every little piece of news. And with pre-Memorial Day holiday volume lightening, it doesn��t take much selling to drive stocks lower,�� notes Peter Schultz, notes chief strategist at The Winning Secret newsletter.

Not a bad time, then, to take a look at whether the market��s itchy finger is jerked by emotion or machines. That��s a point driven home by our call of the day from Goldman Sachs, which says computer-driven trades could amplify the next selloff.

In a note to clients that��s making the rounds, Goldman delves into the topic of flash crashes �� like one in February and another in August 2015 �� that have been blamed mainly on programmed trades.

Goldman��s analysts question whether asset classes that have seen big growth in algorithmic trading �� such as grain, crude oil and equities �� can hold up in moments of heavy stress.

��The fact that even some of the biggest, most heavily traded markets appear vulnerable to flash crashes provides plenty of ex-ante reason to worry that these small cracks in the foundation may betray deeper structural issues that have simply not yet been exposed,�� writes Goldman��s head of global credit, Charles Himmelberg, in the note.

Heisenberg Report/Bloomberg

As Himmelberg notes, high-frequency traders, or HFTs, ��know the price of everything and the value of nothing�� �� and that means they miss the nuances of what a monetary policy meeting means for the market.

The danger is once HFTs start pulling liquidity out of the market, others follow, and then it gets ugly. And as Goldman points out, it��s not clear who will step into provide liquidity when the market needs it most. (Certainly, central banks seem less keen, these days.)

Is there a silver lining? As the bank��s analysts point out, financial innovation has helped improve market liquidity. But they caution that investors must be on guard for the costs it brings, such as trading fragility.

The author of the Heisenberg Report, which published extracts of the note, gave it a good going over. Here��s the verdict:

��There��s no need to worry about trying to keep a running tally of everything that can go wrong. The doomsday crowd is all over that and especially as it relates to HFT. In fact, we��re just lucky the tinfoil hatters let the rest of us get a word in edgewise �� if only so they can point to it and say ��I told you so.����

The market

Dow YMM8, -0.82% ��and S&P 500 futures ESM8, -0.71% �are deep in the red, with Nasdaq-100 NQM8, -1.03% NQM8, -1.03% also signaling a tough start for techs. That��s after the Dow DJIA, -0.72% �, S&P SPX, -0.31% � and Nasdaq COMP, -0.21% �finished lower on Tuesday.

The dollar DXY, +0.47% �is rising, but haven demand is driving up the yen USDJPY, -1.05% while the Turkish lira USDTRY, +4.7504% �is hitting fresh record lows. Crude oil CLM8, -0.21% �is also pulling back.

Asia ADOW, -0.83% �had a bumpy session, while European stocks SXXP, -1.02% �are dropping away from 4-month highs after downbeat economic data.

See more in Market Snapshot.

The buzz

Tiffany TIF, -0.97% �is jumping on blowout results, and Target TGT, -1.82% �is going the other way after a profit miss. Lowe��s LOW, -1.88% �is rising on an upbeat outlook.

Political and geopolitical worries are still rumbling. Trump dropped a hint last night that his administration would be submitting ��something very special�� on tax cuts before November.

As China/U.S. trade relations skate on thin ice, there��s more trade strife brewing. Trump is reportedly looking at a 10% cut in EU steel and aluminum exports when the tariff exemption runs out, while a U.S.-EU clash is building over Airbus subsidies.

Reports that Kim Jong Un is worried about a coup back in North Korea while he��s yukking it up with Trump just lessen the likelihood of the June summit. Meanwhile, the White House says it had nothing to do with that commemorative coin.

Wynn Resorts WYNN, -0.15% �shareholders voted against an exec compensation plan, months after founder Steve Wynn quit amid sexual-misconduct allegations.

A unit of Foxconn 2354, -0.95% �, which assembles Apple AAPL, -0.25% � iPhones, plans to raise $4.25 billion in what could be China��s biggest IPO since 2015.

The minutes of the latest Fed meeting are in the economic spotlight. Ahead of that, we��ll get readings on manufacturing and services activity and new-home sales.

Check out: Why the Fed may float new ideas to market in its latest minutes

The chart

U.S. consumers may be reining in their spending and facing tougher times, going by our chart of the day. By Bianco Research (h/t The Daily Shot), it lays out indicators of search activity on Google.

It shows a rise in Google searches �� to a level not seen since 2008 �� for terms such as ��bankruptcy,�� ��chapter 7�� and ��payday loans.��

Random reads

Stacey Abrams may go on to make history as the first black woman elected state governor, after she won Georgia��s Democratic primary.

The great Pulitzer-prize winning author Philip Roth, dead at 85.

Yrs ago, my dad ran into Philip Roth on the UWS and told him: ��I love you.�� 2 yrs later, my dad runs into him again and apologizes for the burst of affection and Roth, w/o missing a beat, says: ��I��ve been waiting for that apology for 2 years.�� May his memory be a blessing.

— Rachel Lauter (@RachelLauter) May 23, 2018

Vegas casino workers are getting ready to strike.

U.S. government employee in China may have been hit by a sonic attack.

Surviving a Hawaii volcano lava bomb.

Two lynxes arguing on the side of the road. Just about everyone can relate.

Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. Be sure to check the Need to Know item. The emailed version will be sent out at about 7:30 a.m. Eastern.

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Related Topics U.S. Stocks Markets NY Stock Exchange NASDAQ Quote References YMM8 -204.00 -0.82% ESM8 -19.25 -0.71% NQM8 -71.25 -1.03% DJIA -178.88 -0.72% SPX -8.57 -0.31% COMP -15.58 -0.21% DXY +0.44 +0.47% USDJPY -1.17 -1.05% USDTRY +0.2218 +4.7504% CLM8 -0.15 -0.21% ADOW -29.82 -0.83% SXXP -4.04 -1.02% TIF -1.00 -0.97% TGT -1.40 -1.82% LOW -1.64 -1.88% WYNN -0.30 -0.15% 2354 -0.70 -0.95% AAPL -0.47 -0.25% Show all references MarketWatch Partner Center Most Popular Thinking of selling your home? Do it before 2020, economists say Why the end is coming soon for the biggest tech bubble we��ve ever seen, says Villanova professor Dow futures shed nearly 200 points as geopolitical worries persist Here��s what happens if the oil rally turns into an ��oil shock�� Meet the tech founders building the anti-smartphone Barbara Kollmeyer

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

Barbara Kollmeyer

Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.

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Volume	46198
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High	$24,845
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Volume	176.0K
Open	2,725
High	2,726
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E-Mini Nasdaq 100 Index Jun 2018 U.S.: CME: NQM8

Zacks: Analysts Anticipate Taubman Centers (TCO) to Post $0.87 EPS

Equities analysts predict that Taubman Centers (NYSE:TCO) will report $0.87 earnings per share for the current quarter, according to Zacks Investment Research. Fourteen analysts have made estimates for Taubman Centers’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.90. Taubman Centers reported earnings per share of $0.86 during the same quarter last year, which suggests a positive year-over-year growth rate of 1.2%. The business is scheduled to announce its next earnings results on Thursday, July 26th.

On average, analysts expect that Taubman Centers will report full-year earnings of $3.76 per share for the current fiscal year, with EPS estimates ranging from $3.64 to $3.84. For the next year, analysts forecast that the firm will report earnings of $3.88 per share, with EPS estimates ranging from $3.76 to $4.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that cover Taubman Centers.

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Taubman Centers (NYSE:TCO) last released its quarterly earnings results on Thursday, April 26th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.63). Taubman Centers had a negative return on equity of 49.86% and a net margin of 11.63%. The business had revenue of $161.49 million during the quarter, compared to the consensus estimate of $152.82 million. During the same period in the previous year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.

Several research firms have recently issued reports on TCO. ValuEngine cut Taubman Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. BMO Capital Markets set a $62.00 price objective on Taubman Centers and gave the company a “hold” rating in a report on Thursday, April 26th. Mizuho set a $63.00 price objective on Taubman Centers and gave the company a “hold” rating in a report on Friday, February 16th. Zacks Investment Research upgraded Taubman Centers from a “sell” rating to a “hold” rating in a report on Monday, February 26th. Finally, Citigroup upped their price objective on Taubman Centers from $58.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $63.22.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Taubman Centers by 2.2% in the first quarter. BlackRock Inc. now owns 6,800,155 shares of the real estate investment trust’s stock valued at $386,996,000 after buying an additional 145,001 shares during the period. Long Pond Capital LP lifted its holdings in shares of Taubman Centers by 35.9% during the fourth quarter. Long Pond Capital LP now owns 4,115,222 shares of the real estate investment trust’s stock valued at $269,259,000 after purchasing an additional 1,086,367 shares during the last quarter. Cbre Clarion Securities LLC purchased a new stake in shares of Taubman Centers during the fourth quarter valued at $176,250,000. Bank of New York Mellon Corp lifted its holdings in shares of Taubman Centers by 71.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,486,957 shares of the real estate investment trust’s stock valued at $97,291,000 after purchasing an additional 621,136 shares during the last quarter. Finally, V3 Capital Management L.P. purchased a new stake in shares of Taubman Centers during the fourth quarter valued at $84,241,000.

Taubman Centers opened at $52.31 on Friday, Marketbeat Ratings reports. Taubman Centers has a 1 year low of $44.78 and a 1 year high of $66.61. The firm has a market capitalization of $3.16 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 3.44 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of -21.43.

Taubman Centers Company Profile

Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry.

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