Benzinga’s Bulls And Bears Of The Week: Boeing, Netflix, Pfizer And More

In Priya Nigam’s “Goldman Sachs Downgrades Consolidated Edison Despite Positive View On Utilities,” see what risks to Consolidated Edison Inc.

  • Benzinga has examined the prospects for many investor favorite stocks over the past week.
  • The bullish calls this past week included a COVID-19 stock and a leading video streamer.
  • That same streamer, a aerospace giant and a utility stock were among the week’s bearish calls.

The big three U.S. indexes lost a little more ground in a week that saw a tech giant in the crosshairs and not one but two big mergers in the oil patch. While the new earnings reporting season ramped up and wrangling over fiscal stimulus continued, the first COVID-19 treatment crossed the finish line in the United States.

Also in the past week, there was friction between a retail colossus and one government and between the electric vehicle leader and another. A video-streaming service shut down, and the ride-sharing companies lost in court.

Through it all, Benzinga continued to examine the prospects for many of the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.

Bulls

The coronavirus vaccine in development by Pfizer Inc. (NYSE: PFE) and BioNTech SE (NASDAQ: BNTX) is poised for an emergency use authorization application, according to Shanthi Rexaline’s “Pfizer’s COVID-19 Vaccine Candidate Primed For $3.5B In 2021 Sales: Analyst.”

In “Netflix Analysts Positive On 2021 Lineup, Pricing Power Despite Subscriber Miss,” Chris Katje discusses why underlying trends at Netflix Inc. (NASDAQ: NFLX) remain solid and the expectation of price increases in the coming year to better compete with its competitors.

In Wayne Duggan’s “‘Firing On All Cylinders’: Analysts React To Snapchat’s Huge Quarter,” see why one analyst believes the blow-out third-quarter at Snap Inc. (NYSE: SNAP) may signal that the online advertising business has recovered. What are the long-term prospects?

Why BofA Is Bullish On Kohl’s” by Jayson Derrick examines the bullish signal a top analyst saw in a recent investor presentation from Kohl’s Corp. (NYSE: KSS). Can a strong balance sheet and ongoing initiatives help this department store operator return to pre-pandemic operating levels?

For additional bullish calls in the past week, also have a look at these posts:

Bears

Netflix Driving Into A ‘Dead End,’ Munster Says” by Shivdeep Dhaliwal says that a prominent tech investor questions whether the media services provider’s stock can continue on the path of appreciation. See how he believes Netflix needs to evolve its business in order to avoid a “dead end” and keep delivering solid returns.

Chris Katje’s “Fastly’s TikTok Dependence Becoming ‘Bigger Issue,’ Analyst Says In Downgrade” is focused on the major risks that Fastly Inc. (NYSE: FSLY) faces. Is the cloud computing services provider too dependent on TikTok revenue? What do analysts expect going forward?

Digital payment and fintech companies Paypal Holdings Inc. (NASDAQ: PYPL) and Square Inc. (NYSE: SQ) are having a solid 2020 but have become extremely overvalued. So says “Investing Pro: Why PayPal, Square Are Getting Hit ‘Square In The Gut’” by Jayson Derrick. Do other analysts agree?

Wayne Duggan’s “Boeing’s ‘Pivotal Moment’: Analyst Says Company Needs New Airplane” makes a case that Boeing Co. (NYSE: BA) still has a number of major challenges ahead in the near term, despite recent good news about its 737 Max in Europe.

In Priya Nigam’s “Goldman Sachs Downgrades Consolidated Edison Despite Positive View On Utilities,” see what risks to Consolidated Edison Inc. (NYSE: ED) this key analyst thinks are not reflected in year-end and 2021 guidance.

Be sure to check out the following additional bearish calls:

At the time of this writing, the author had no position in the mentioned equities.

Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.

German American Bancorp (NASDAQ: GABC) Expected To Post $51.37 Million In Quarterly Sales

NASDAQ: GABC shares in possession of Goldman Sachs Group Inc. witnessed a spike of 10.1% during the second quarter. After purchasing 68,230 …

German American Bancorp, Inc. (NASDAQ: GABC) will release a statement of their earnings on October 26. Their sales have ranged between $49.90 and $53 million presenting an annual rate of growth at 1.5%.

The sales calculations are conducted with the aid of sell-side research organizations’ analysis of NASDAQ: GABC. Stock market experts are, however, expecting an entire year’s sales report amounting to $205.23 million. NASDAQ: GABC will hopefully achieve $195.10 million pos- sales, stretching from $190.60 to $199 million in the upcoming economic year.

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According to the previous report presented on July 27, NASDAQ: GABC had soared above stock market estimation and earned $0.54 for every share. The total margin was 24.05% with a return amounting to 9.92% on equity. Though the stock market predicted $48.85 million in revenue, NASDAQ: GABC minted $5.088 million in this quarter.

NASDAQ: GABC “sell” rating from “hold” rating shares were found to be reduced in a Zacks Investment Research report on October 6. Piper Sandler settled on a rating that was “neutral” between $32 and $29 for NASDAQ: GABC on September 29. After several research notes by stock market analysts, German American Bancorp presently ensures a mediocre “hold” rating along with a $30.33 price objective.

NASDAQ: GABC insiders own about 7.81% of the total stock including 1,230 shares amounting to $33,223 in the preceding quarter. U Butch Kelm, Director of the German American Bancorp acquired 1,000 shares with a per-share amounting to $26.49 on September 22.

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NASDAQ: GABC shares in possession of Goldman Sachs Group Inc. witnessed a spike of 10.1% during the second quarter. After purchasing 68,230 shares in the previous quarter, Goldman Sachs Group Inc. has a total investment of $23,122,000 comprising 743,461 shares of NASDAQ: GABC in the stock market.

First Trust Advisors LP holds 69,405 shares worth $2,158,000 after they acquired 48,410 shares previously.

375,848 shares are owned by Geode Capital Management LLC amounting to $10,317,000 after the last financial quarter purchase of 26,179 shares.

Vanguard Group Inc. recently added 19,085 shares to make a total of 1,246,782 shares amounting to $38,775,000 within the recent quarter.

Lastly, Boston Trust Walden Corp boasts of a total of 209,807 shares after they recently purchased 16,650 shares amounting to $6,525,000.

This Friday, NASDAQ: GABC began stock market enterprise at $31.60 with their all-time high at $36.17 and lowest of $23.54. They showed a rate of $28.62 on 50 days along with a rate of $28.94 on 200 days. Their debt-to-equity rate is 0.37. NASDAQ: GABC stock market value stands at $837.34 million.

German American Bancorp provides banking services to the public via the German American Bank. Their three categories include Core Facilities for Banking, Insurance Services, and, Trust and Investment Advisory Operations.

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Bronx School Shifts To Remote Learning After Confirmed COVID Cases, While NYC Education …

Bronx School Shifts To Remote Learning After Confirmed COVID Cases, While NYC Education Officials Say 100 Schools Ready To Reopen Monday.

NEW YORK (CBSNewYork) — As some New York City schools in COVID-19 hot spots are about to reopen, a school in the Bronx is forced to close.

P.S. 24 in the Spuyten Duyvil section is temporarily closed after having two positive coronavirus cases within seven days of each other, CBS2’s Jenna DeAngelis reported Friday.

A frustrated parent dropping her kids off at the school saw a sign on the doors that read, “P.S. 24 will be closed Thursday and Friday.”

More schools across the Tri-State Area are closing and going remote due to COVID-19 outbreaks. (CBS2)

“I saw they said at 6 o’clock they’d let us know, but at 6 o’clock there was nothing there,” one mother said.

A letter the principal sent to parents late Wednesday alerted, “Two or more members” of the school community tested positive for COVID-19, shifting the school to fully remote classes.

Another update on the school’s website posted Thursday indicates P.S. 24 will be closed for two more weeks.

MORE:Surging Coronavirus Cases Prompt Boonton, N.J. Schools To Go Virtual

“I really hope things will get better,” said Victoire Girard, a parent who wants her daughter off the digital device and in the classroom.

“I think she needs to be in environment, an organizational environment to learn,” Girard said.

About half of the city’s public schools students opted for remote-only learning, but Mayor Bill de Blasio says schools are safe with mandatory masks, smaller class sizes and proper ventilation.

MORE:Gov. Cuomo Redraws COVID-19 Hot Zones As Infection Rates Improve

“Testing, testing testing. We test constantly in our schools. We found an incredibly low rate of positive cases in our schools, but… that takes a lot of resources,” de Blasio said Friday.

Following COVID zone changes by the state, the New York City Department of Education says about 100 schools are able to fully or partially reopen Monday.

People remain split.

Schools: The New Normal

“They should close all the schools. It’s not fair that the virus is going up and these teachers are taking it home to their families. Not fair at all,” said Yvette Frazier.

“School in many communities is a real important role for the kids because their parents may be both working. They don’t have much going on at home,” said Michele Christon, a retired teacher.

The plan at P.S. 24 is to reopen the school to students and staff on Nov. 5.

According to the principal, everyone in close contact with those who tested positive for COVID-19 was notified to quarantine for 14 days.

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How Trump Became the Pro-Infection Candidate

Those who take the first view, including most medical and public-health professionals, advocate a temporary, science-driven restructuring of society, …

Nine months into the pandemic, it’s a truism to say that America’s response has been politicized. Even so, with an election looming, the virus surging, and President Trump and others in government recently infected, our divisions now stand out with a startling, even brutal, clarity. There have always been two basic ways of looking at the coronavirus crisis. The first sees the minimization of death as a paramount goal; the second holds that significant death is inevitable and acceptable. Those who take the first view, including most medical and public-health professionals, advocate a temporary, science-driven restructuring of society, designed to save lives; those who take the second view, including the President and those in his circle, say that people die all the time, from car crashes, drug addictions, diseases, and the like, and argue that we don’t stop living to prevent them from dying. “Many people every year, sometimes over 100,000, and despite the Vaccine, die from the Flu,” the President tweeted, earlier this month, after he was discharged from the hospital. “Are we going to close down our Country?” (Twitter flagged the tweet as misinformation since, in fact, far fewer than a hundred thousand people die from the flu each year.)

There are different ways of holding the we-all-gotta-go-sometime view. Someone who grasps it lightly might incline a little more toward risk-taking than caution in her personal choices. But over the course of the pandemic, the President and many of his followers have come to cling to it tightly, even triumphantly, brandishing it as a kind of ideology. In the final weeks of the campaign, they’ve taken the outlook to a new, disturbing place. Erin Perrine, the communications director for his campaign, has faulted Joe Biden for not getting infected, arguing that Trump “has experience now fighting the virus as an individual. Those firsthand experiences—Joe Biden, he doesn’t have those.” Shortly before leaving the hospital, the President tweeted that his own infection had left him feeling “better than I did 20 years ago!” Trump has turned against government scientists with a new ferocity, referring to them as “idiots” and calling Anthony Fauci, the nation’s top infectious-disease expert, a “disaster.” The President has always seemed not to take the virus seriously. But, in recent weeks, something has changed.

An especially telling moment occurred on October 13th. According to the Times, two senior White House officials cited, in a background conversation with reporters, the Great Barrington Declaration—a document that argues for the pursuit of herd immunity through widespread infection instead of a vaccine. Although most Americans haven’t heard of the declaration, many in the medical community have; Fauci captured the consensus view when, speaking to George Stephanopoulos, he called its core ideas “ridiculous.” Although its primary authors are three professors at Harvard, Stanford, and the University of Oxford, respectively, the declaration hasn’t received the imprimatur of a medical or scientific institution; instead, it’s been sponsored by the American Institute for Economic Research, a libertarian think tank situated in Great Barrington, Massachusetts. The declaration proposes that society should stay more or less open and that the virus should be allowed to infect the vast majority of the population while public-health officials focus on protecting the elderly and others who are especially vulnerable. (The details of the protective strategy go unspecified.) Francis Collins, the director of the National Institutes of Health, told the Washington Post that, although the declaration is sometimes presented as a “major alternative view that’s held by large numbers of experts,” it is, in fact, “fringe.” Infectious-disease specialists have signed it, but many of its thousands of signatories are either unqualified or fake (“Dr. Johnny Bananas,” “Dr. Person Fakename”).

The declaration has its roots in the early days of the pandemic, when some scientists asked whether herd immunity—which occurs when so many people have been infected or vaccinated that viral spread becomes unlikely—might be achievable more quickly and less painfully than was widely supposed, and without a vaccine. Perhaps the virus had already spread more than tests indicated, in which case it was more asymptomatic than we thought; perhaps certain people, having previously been infected by other, similar viruses, had some level of preëxisting immunity to it.

These were appealing possibilities. But, as time has passed, persuasive evidence for them has failed to materialize. In New York City, the original epicenter of the American pandemic, the vast majority of the population remains susceptible to the virus, even in parts of the city, such as Borough Park, that have experienced high rates of infection. In the U.S. as a whole, as many as nine in ten people still lack immunity to the virus. In this context, the swift reopening proposed by the declaration would result in a sharp spike in cases, with hundreds of thousands dying and tens of millions suffering serious and debilitating illness. This is likely to occur even if officials try to focus on protecting the vulnerable. The problem, ultimately, is that society cannot be easily divided into separate layers of medical risk. Sweden adopted lighter restrictions while seeking to protect its elderly citizens—and yet the coronavirus found ways around the barriers put in front of it. The country’s COVID-19 death rate is an order of magnitude higher than its neighbors’, and it has not achieved anything like herd immunity.

Throughout the pandemic, Trump and his team have often denied that they are pursuing herd immunity as a strategy. And yet their words and actions have belied their disavowal. “Once you get to a certain number—we use the word ‘herd’—once you get to a certain number, it’s going to go away,” the President told Fox News, in August. At a town hall in September, he promised the audience, “You’ll develop herd, like a herd mentality. It’s going to be—it’s going to be herd-developed, and that’s going to happen.” On October 5th, the day after the declaration was released, its primary authors met with Alex Azar, the Secretary of Health and Human Services, who later said, “We heard strong reinforcement of the Trump Administration’s strategy.” Scott Atlas, a top White House coronavirus adviser, has said that “the thrust of the declaration is exactly aligned with the President.” (Atlas and Jay Bhattacharya, one of its authors, are colleagues at Stanford, where Bhattacharya studies health policy, not infectious diseases.) Speaking on the condition of anonymity, an Administration official told the Times that the White House wasn’t so much endorsing the declaration as acknowledging that the declaration “is endorsing what the President’s policy has been for months.” This is an extraordinary admission—appalling for Americans but perhaps freeing for Trump. He is granting himself license to move into an even higher register of incompetence, not just downplaying the threat but actively encouraging Americans to embrace it.

As a physician, of course, I take the medical view of the pandemic; in a sense, I’ve experienced it firsthand. Caring for COVID-19 patients at the height of New York City’s first wave, I watched as the medical profession, so often fragmented by ego and hierarchy, coalesced around the certainty that any loss of life is a tragedy. Nurses and doctors worked for weeks on end with little respite, often separated from their families to avoid infecting them. Clinicians poured in from across the country to help. Health-care leaders held daily briefings, scrambled for P.P.E., and searched for ventilators. Facilities crews reorganized hospitals. Everyone—even those who weren’t seeing patients—started wearing masks. On the coronavirus wards, we went further, donning goggles, gowns, gloves, respirators, and shoe coverings. Contagious patients were placed in negative-pressure rooms and sometimes seen through telemedicine; infected people who didn’t need hospitalization but couldn’t isolate from their loved ones at home were offered hospital-based housing. Husbands, wives, parents, and siblings died alone. Women gave birth without their partners present. All this was done not out of fear but out of concern. We didn’t want even a single person to get the virus unnecessarily. Our commitment was sharpened by the knowledge that we were witnessing many preventable deaths.

As the virus surged around the country, millions of Americans upended their lives and adopted new habits to protect one another. All the while, the President and his team pursued a different path. Declining to wear a mask or follow basic social-distancing guidance, Trump tweeted about “liberating” states and promoted discredited therapies. Overwhelmed by the task of fighting the virus, he pulled from the playbook of tobacco companies and climate-change deniers, casting doubt on the statistics. The rise in cases reflected only increased testing; the number of deaths had been doctored; the virus’s lethality had been overstated—as his dodges piled up, it became clear that he had no interest in grappling with the reality of hundreds of thousands of deaths.

Atlas, a neuroradiologist without training in epidemiology or infectious diseases, came to the White House at the end of the summer, having spent much of the year offering pandemic commentary on Fox News. He gained regular access to Trump and began wielding greater influence over the Administration’s coronavirus strategy. Atlas has repeatedly voiced skepticism of fundamental public-health principles, such as testing, mask-wearing, and social distancing. (“Everything he says is false,” Robert Redfield, the director of the C.D.C., has said.) Fauci and Deborah Birx, the coronavirus-response coördinator, have confronted him about many of his unfounded claims—among them that parts of the country, including New York City, are approaching fifty-per-cent immunity. But they have been largely sidelined. Trump no longer regularly meets with the White House coronavirus task force; Atlas is now the President’s primary health adviser.

Digital Transformation in Asia: CEOs of Sea Limited, Logiq, Peak Fintech, and Pinduoduo Discuss …

Digital Transformation in Asia: CEOs of Sea Limited, Logiq, Peak Fintech, and Pinduoduo Discuss Growth Opportunities in Fintech, E-Commerce & E- …

NEW YORK, Oct. 20, 2020 (GLOBE NEWSWIRE) — Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Sea Limited (NYSE: SE), Logiq (OTC: LGIQ), Peak Fintech (OTC: PKKFF) (CSE: PKK), and Pinduoduo (NASDAQ: PDD).

Accelerating digital transformation in Asia is driving explosive growth opportunities in sectors as diverse as fintech, agriculture, esports, and ecommerce. Wall Street Reporter highlights the latest comments from industry thought leaders:

Sea Limited (NYSE: SE) Forrest Li, Chairman and Group CEO “Firing on All Cylinders” https://bit.ly/2FOjWoC

Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph: “China Fintech Revenues Ready to Explode” https://bit.ly/3maNi01

Logiq, Inc. (OTC: LGIQ) President, Brent Suen: “The Shopify of Mobile in SE Asia w $40+ mil Revenues Run Rate” https://bit.ly/3g9H0Km

Pinduoduo Inc. (NASDAQ: PDD) David Liu, VP Strategy: “Digital Transformation of Agriculture is RMB 1 Trillion Opportunity” https://bit.ly/2FNBmSg

Sea Limited (NYSE: SE) Forrest Li, Chairman and Group CEO “Firing on All Cylinders”

“…We are moving into the second half of 2020 firing on all cylinders. Each of our businesses is successfully adapting to capture the immediate growth opportunity in front of us. Each of them is also ideally positioned for the long-term with a significant runway ahead…We saw sustained and growing user engagement across our platforms through the second quarter and beyond. And this gives us further confidence that the rapid shift to digital lifestyles is in fact a permanent and irreversible change that will drive significant growth opportunities for Sea over the long term.”

“…Garena had another excellent quarter and achieved several historical highs. We reached more people than ever before, with close to 500 million active users around the globe playing Garena games during the quarter. That represents an increase of 61% year-on-year. As we rolled out more new content than ever to entertain and engage our users, our paying user ratio improved further to hit 10%. Our quarterly paying user number grew at a very strong rate of 91% year-on-year to reach 49.9 million.”

“…Shopee recorded accelerated growth across key metrics and in each of our markets, as more consumers and sellers turned to Shopee as their go-to shopping and selling destination…consumers and sellers in our region who are embracing e-commerce at an unprecedented pace…In the second quarter, we recorded accelerated growth in gross orders, which increased by 150% year-on-year to reach 615.9 million compared to 111% in the first quarter… In Indonesia, our largest market, our year-on-year growth rate in terms of orders further accelerated. We recorded over 260 million orders for the market in the second quarter, or a daily average of over 2.8 million orders, an increase of over 130% year-on-year.”

“SeaMoney further accelerated growth in the second quarter. Accelerating digitalization is driving increased needs for quick and convenient online and contactless payment options, as well as other digital financial services… SeaMoney’s focus continues to be leveraging on Sea’s strategic leadership positions in some of the largest use cases for digital payments in e-commerce and digital entertainment….mobile wallet total payment volume increased to more than $1.6 billion for the second quarter compared to more than $1 billion in the first quarter…We see significant growth ahead in the digital payments and digital financial services segment, driven by the rapid expansion of the digital economy in our region…We will continue to invest efficiently in scaling up the SeaMoney business to solidify our leadership position across our markets.”

Sea Limited (NYSE: SE) Q2 2020 Earnings Call Highlights: https://bit.ly/2FOjWoC

Logiq, Inc. (OTC: LGIQ) President, Brent Suen: “The Shopify of Mobile in SE Asia ”w $40+ mil Revenues Run Rate”

NEXT SUPER STOCK conference presenter Logiq, Inc (formerly Weyland Tech) (OTC: LGIQ) President Brent Suen recently spoke with Wall Street Reporter’s investor audience about LGIQ’s latest developments, including the acquisition of an AI technology company, accelerating revenue growth with a run-rate of $40 million, new fintech partnerships in the booming Indonesia market, and plans for NASDAQ uplisting. Brent also explained why LGIQ has compelling upside, when comparing valuation multiples, which is just a fraction of its peers in the e-commerce/fintech space such as SHOP, SE, STNE, and JMIA, which trade at 30X revenues.

Watch LGIQ Next Super Stock livestream video: https://bit.ly/3g9H0Km

Click here to join LGIQ NEXT SUPER STOCK livestream October 21: https://bit.ly/2PX0SpH

Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph: “China Fintech Revenues Ready to Explode”

NEXT SUPER STOCK conference presenter Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph, recently spoke with Wall Street Reporter’s investor audience about PKKFF fast growing China fintech business which serves connects small-medium business with commercial lending solutions. Joseph explained how Peak Fintech has already gained significant traction, generating over C$7.2 million revenue in Q 2020, and is now ready to start scaling revenues as it enters new markets in coming months.

Watch PKKFF Next Super Stock livestream video: https://bit.ly/3maNi01

October 20 – PKKFF signed an exclusive agreement with the parent company of national consumer electronics distributor Beijing Dianjing Company Ltd. (“BDC”) to bring financing solutions to BDC’s 60,000 online retail clients.

BDC is a wholesale distributor of consumer electronics whose online retail clients sell laptops, smartphones and other consumer electronic products on China’s top three e-commerce portals: Tmall, JD.com and Pinduoduo. BDC’s clients, who collectively sell about $50B worth of consumer electronics per year, will be able to have up to 90% of the price of the products they purchase from BDC financed. Peak typically earns service fees ranging from 1% to 3% of the value of the credit amounts it helps facilitate, and this represents a total market opportunity of up to $1.35B in annual revenue potential.

Click here to join PKKFF NEXT SUPER STOCK livestream October 21: https://bit.ly/2PX0SpH

Pinduoduo Inc. (NASDAQ: PDD) David Liu, VP Strategy: “Digital Transformation of Agriculture is RMB 1 Trillion Opportunity”

“…We have successfully built a user base of nearly 600 million in record time…Our average daily parcel volume accounts for approximately 25% of China’s daily parcel shipment. However, in terms of average spending per active buyers, we still see substantial upside potential…We plan to pursue more strategic investment and partnership opportunities that will allow us to accelerate digitization of our supply chain and enhance efficiency and values that could be shared with our consumers. In particular, we started our business in agriculture and we plan to continue our focus in agriculture as our next strategic priority. Agriculture is a sector that touches largest number of people and yet has had the least amount of digitization in the past decade.”

“…Total addressable market in 2019 for PBOC agricultural goods sales in China was RMB 8.1 trillion, with less than 7% of these sales taking place online. In contrast, the online penetration for physical goods in total was 23% in 2019….Pinduoduo is already one of the leading e-commerce platforms for agriculture. In 2019, we generated RMB136.4 billion or 13.6% of our GMV from agriculture produce and related goods…Any technology that can improve productivity and efficiency of an agricultural value chain will have a huge impact…We are uniquely positioned to drive trends in China’s agriculture system. ..Our aim is to further consolidate our position as China’s number one online agriculture platform and to build a worldwide presence in agriculture…We expect to continue gaining market share in agriculture and we see potential for our agriculture GMV to exceed RMB 1 trillion in 5 years.”

Pinduoduo Inc. (NASDAQ: PDD) Earnings Call Highlights: https://bit.ly/2FNBmSg

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