Trader and registered investment advisor Joe Fahmy, Zor Capital Managing Director, joins Yahoo Finance’s Jared Blikre to discuss the conditions under which Apple (AAPL) stock becomes a buy.
Not a subscriber to Yahoo Finance Premium? Start your free trial to join future webinars live!
Doug Collins to Introduce Constitutional Amendment Prohibiting Adding Justices to Supreme Court
Representative Doug Collins is preparing to introduce a constitutional amendment to block potential attempts to add justices to the Supreme Court as some Democrats eye adding seats should President Trump’s upcoming nominee be confirmed.
The amendment would block “court packing,” or adding justices to the Supreme Court, for 10 years after any bill is passed to enlarge the court, a measure Collins said aims to “take the political emotion of the moment out of the way.”
“The proposed amendment—really, it should be a bipartisan issue,” the Georgia Republican said. “We should not have decisions like packing the court to be based on emotional or political decisions.”
“The reason we did it is because it seems like the Democrats, every time they don’t get what they want, they want to change the rules,” Collins added.
Several Democrats have suggested or said directly that they are open to adding justices to the Court should President Trump’s proposed nominee to fill the seat of the late Justice Ruth Bader Ginsburg be confirmed.
Senate Minority Leader Chuck Schumer said that “nothing is off the table” if Democrats gain control of the Senate, and Senator Ed Markey called directly for abolishing the filibuster and expanding the Supreme Court. House Judiciary Committee Chair Jerry Nadler said that if Senate Republicans confirm a justice before a new Senate and president take office “then the incoming Senate should immediately move to expand the Supreme Court.”
Meanwhile, House Democrats are planning to introduce a bill next week that would limit the terms of Supreme Court justices to 18 years instead of their current lifetime tenure.
“It would save the country a lot of agony and help lower the temperature over fights for the court that go to the fault lines of cultural issues and is one of the primary things tearing at our social fabric,” said Representative Ro Khanna, the Democratic bill’s lead sponsor.
More from National Review
Parents TV Council calls for an official investigation of Netflix over ‘Cuties’ and other ‘sexualized’ content
Since its Sept. 9 premiere on Netflix, the controversial French film Cuties has made the streaming service the target of social media critics, Congressional representatives and prominent legal experts. Now, the debate is being escalated to the White House. The Parents Television Council is calling on President Donald Trump and the Justice Department to investigate Netflix not only for its choice to stream Cuties but also what they allege is a “pattern of behavior” in sexualizing children in its content.
“We are ultimately asking the President to instruct the DOJ to investigate Netflix not just for this film, but for its pattern of behavior,” Melissa Henson, program director of the Parents Television Council, told Fox News in a statement. “We hope to get Netflix to be more responsible and refrain from sexualizing kids for entertainment going forward.”
Even before this latest escalation, the conservative-leaning PTC made its support of the larger #CancelNetflix campaign known on social media and its website, which features a petition supporting what it calls “Netflix Reform.”
— Parents Television Council (@ThePTC) September 16, 2020
Cuties — which tells the story of an 11-year-old girl who joins a dance crew that models its routines after age-inappropriate content they see on social media — is the specific target of the organization’s ire. But in an open letter addressed to President Trump and Vice President Mike Pence, the PTC also cited the animated series Big Mouth and the British series Sex Education as other examples of Netflix programming they consider to be problematic.
Big Mouth, which was co-created by and stars comedian Nick Kroll, explores the thorny topic of pre-teen sexuality, with its characters adjusting to the onset of puberty in hilariously uncomfortable ways. “Big Mouth is particularly vile in its attempts to sexualize pubescent children,” the PTC’s letter states, citing examples taken from the show’s IMDB page. “There is a strong link between sexualized media and the victimization and exploitation of children,” the letter continues.
Sex Education, meanwhile, follows a teenager (played by Asa Butterfield) who establishes a secret “sex therapy” clinic at his school. “The content depicts adult actors who appear to be high-school-aged characters engaged in graphic sex scenes with [dialogue] that one would expect only to find in XXX films,” PTC president, Tim Winter, wrote in a separate Sept. 14 letter addressed to Senator Tim Hawley, who was one of the first government officials to join the #CancelNetflix campaign.
Netflix has steadfastly stood by Cuties, and its director, Maïmouna Doucouré, throughout the controversy. “Cuties is a social commentary against the sexualization of young children. It’s an award-winning film and a powerful story about the pressure young girls face on social media and from society more generally growing up — and we’d encourage anyone who cares about these important issues to watch the movie,” a Netflix spokesperson said in a Sept. 10 statement.
Doucouré herself has adamantly pushed back against charges that she took advantage of her young cast. “I created a climate of trust between the children and myself,” the filmmaker said in a recent interview with the online magazine Zora. “I explained to them everything I was doing and the research that I had done before I wrote this story. I was also lucky that these girls’ parents were also activists, so we were all on the same side.” The director has also emphasized that she and the film’s critics are ultimately fighting “the same fight” against the sexualization of children. “We need to protect our children. What I want to is to open people’s eyes on this issue and try to fix it.”
Cuties is currently streaming on Netflix
Read more from Yahoo Entertainment
IBEX Rises 3% On Upbeat 4Q Sales Results
3 ‘Strong Buy’ Stocks With Over 7% Dividend Yield
Markets are volatile, there can be no doubt. So far this month, the S&P 500 has fallen 9% from its peak. The tech-heavy NASDAQ, which had led the gainers all summer, is now leading the on the fall, having lost 11% since September 2. The three-week tumble has investors worried that we may be on the brink of another bear market.The headwinds are strong. The usual September swoon, the upcoming election, doubts about another round of economic stimulus – all are putting downward pressure on the stock markets.Which doesn’t mean that there are no opportunities. As the old saw goes, “Bulls and bears can both make money, while the pigs get slaughtered.” A falling market may worry investors, but a smart strategy can prevent the portfolio from losing too much long-term value while maintaining a steady income. Dividend stocks, which feed into the income stream, can be a key part of such a strategy.Using the data available in the TipRanks database, we’ve pulled up three stocks with high yields – from 7% to 11%, or up to 6 times the average dividend found on the S&P 500 index. Even better, these stocks are seen as Strong Buys by Wall Street’s analysts. Let’s find out why.Williams Companies (WMB)We start with Williams Companies, an Oklahoma-based energy company. Williams controls pipelines connecting Rocky Mountain natural gas fields with the Pacific Northwest region, and Appalachian and Texan fields with users in the Northeast and transport terminals on the Gulf Coast. The company’s primary operations are the processing and transport of natural gas, with additional ops in crude oil and energy generation. Williams handles nearly one-third of all US commercial and residential natural gas use.The essential nature of Williams’ business – really, modern society simply cannot get along without reliable energy sources – has insulated the company from some of the economic turndown in 1H20. Quarterly revenues slid from $2.1 billion at the end of last year to $1.9 billion in Q1 and $1.7 billion in Q2. EPS in the first half was 26 cents for Q1 and 25 cents for Q2 – but this was consistent with EPS results for the previous three quarters. The generally sound financial base supported the company’s reliable dividend. Williams has been raising that payment for the past four years, and even the corona crisis could not derail it. At 40 cents per common share, the dividend annualizes to $1.60 and yields an impressive 7.7%. The next payment is scheduled for September 28.Truist analyst Tristan Richardson sees Williams as one of the midstream sector’s best positioned companies.“We continue to look to WMB as a defensive component of midstream and favor its 2H prospects as broader midstream grasps at recovery… Beyond 2020 we see the value proposition as a stable footprint with free cash flow generation even in the current environment. We also see room for incremental leverage reduction throughout our forecast period on scaled back capital plans and even with the stable dividend. We look for modestly lower capex in 2021, however unlike more G&P oriented midstream firms, we see a project backlog in downstream that should support very modest growth,” Richardson noted.Accordingly, Richardson rates WMB shares as a Buy, and his $26 price target implies a 30% upside potential from current levels. (To watch Richardson’s track record, click here)Overall, the Strong Buy analyst consensus rating on WMB is based on 11 Buy reviews against just a single Hold. The stock’s current share price is $19.91 and the average price target is $24.58, making the one-year upside potential 23%. (See WMB stock analysis on TipRanks)Magellan Midstream (MMP)The second stock on our list is another midstream energy company, Magellan. This is another Oklahoma-based firm, with a network of assets across much of the US from the Rocky Mountains to the Mississippi Valley, and into the Southeast. Magellan’s network transports crude oil and refined products, and includes Gulf Coast export shipping terminals.Magellan’s total revenues rose sequentially to $782.8 in Q1, and EPS came in at $1.28, well above the forecast. These numbers turned down drastically in Q2, as revenue fell to $460.4 million and EPS collapsed to 65 cents. The outlook for Q3 predicts a modest recovery, with EPS forecast at 85 cents. The company strengthened its position in the second quarter with an issue of 10-year senior notes, totaling $500 million, at 3.25%. This reduced the company’s debt service payments, and shored up liquidity, making possible the maintenance of the dividend.The dividend was kept steady at $1.0275 per common share quarterly. Annualized, this comes to $4.11, a good absolute return, and gives a yield of 11.1%, giving MMP a far higher return than Treasury bonds or the average S&P-listed stock.Well Fargo analyst Praneeth Satish believes that MMP has strong prospects for recovery. “[We] view near-term weakness in refined products demand as temporary and recovering. In the interim, MMP remains well positioned given its strong balance sheet and liquidity position, and ratable cash flow stream…” Satish goes on to note that the dividend appears secure for the near-term: “The company plans to maintain the current quarterly distribution for the rest of the year.”In line with this generally upbeat outlook, Satish gives MMP an Overweight (i.e. Buy) rating, and a $54 price target that implies 57% growth in the coming year. (To watch Satish’s track record, click here)Net net, MMP shares have a unanimous Strong Buy analyst consensus rating, a show of confidence by Wall Street’s analyst corps. The stock is selling for $33.44, and the average price target of $51.13 implies 53% growth in the year ahead. (See MMP stock analysis on TipRanks)Ready Capital Corporation (RC)The second stock on our list is a real estate investment trust. No surprise finding one of these in a list of strong dividend payers – REITs have long been known for their high dividend payments. Ready Capital, which focuses on the commercial mortgage niche of the REIT sector, has a portfolio of loans in real estate securities and multi-family dwellings. RC has provided more than $3 billion in capital to its loan customers.In the first quarter of this year, when the coronavirus hit, the economy turned south, and business came to a standstill, Ready Capital took a heavy blow. Revenues fell by 58%, and Q1 EPS came in at just one penny. Things turned around in Q2, however, after the company took measures – including increasing liquidity, reducing liabilities, and increasing involvement in government-sponsored lending – to shore up business. Revenues rose to $87 million and EPS rebounded to 70 cents.In the wake of the strong Q2 results, RC also started restoring its dividend. In Q1 the company had slashed the payment from 40 cents to 25 cents; in the most recent declaration, for an October 30 payment, the new dividend is set at 30 cents per share. This annualizes to $1.20 and gives a strong yield of 9.9%.Crispin Love, writing from Piper Sandler, notes the company’s success in getting back on track.“Given low interest rates, Ready Capital had a record $1.2B in residential mortgage originations versus our $1.1B estimate. Gain on sale margins were also at record levels. We are calculating gain on sale margins of 3.7%, up from 2.4% in 1Q20,” Love wrote.In a separate note, written after the dividend declaration, Love added, “We believe that the Board’s actions show an increased confidence for the company to get back to its pre-pandemic $0.40 dividend. In recent earnings calls, management has commented that its goal is to get back to stabilized earnings above $0.40, which would support a dividend more in-line with pre-pandemic levels.”To this end, Love rates RC an Overweight (i.e. Buy) along with a $12 price target, suggesting an upside of 14%. (To watch Love’s track record, click here)All in all, Ready Capital has a unanimous Strong Buy analyst consensus rating, based on 4 recent positive reviews. The stock has an average price target of $11.50, which gives a 9% upside from the current share price of $10.51. (See RC stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
- For completionists, Destiny 2’s lead-up to Beyond Light is brutal
- Jamal Adams’ social media threat shows how great it is with Seahawks
- Blue Jays reach MLB playoffs: Four wild cards in Toronto’s return to postseason
- OSIRIS-REx will attempt its first asteroid sample collection next month
- Attica Scott arrested during Louisville Breonna Taylor protests
- “Big Ben” to set franchise mark vs. Texans
- Doug Collins to Introduce Constitutional Amendment Prohibiting Adding Justices to Supreme Court
- Parents TV Council calls for an official investigation of Netflix over ‘Cuties’ and other ‘sexualized’ content
- IBEX Rises 3% On Upbeat 4Q Sales Results
- Apple will temporarily stop taking a 30 percent cut on Facebook event fees
Entertainment6 days ago
Danish TV show ‘Ultra Strips Down’ records kids eyeing naked adults
Sports News20 hours ago
US Olympian Chloe Dygert crashes over guardrail in cycling accident
Sports News3 weeks ago
Fantasy Football Auction Draft strategy: Tips, advice for spending your 2020 player budget wisely
Sports News3 weeks ago
NBA 2K21 Cover Star Damian Lillard Reveals His Issues With the Game
Sports News4 days ago
Fantasy Football Buy-Low, Sell-High Stock Watch: Leonard Fournette, Stefon Diggs among movers heading into Week 3
Sports News3 weeks ago
NBA playoff bracket 2020: Updated standings, seeds & results from each round
Tech4 days ago
iOS 14 basics: how to add widgets to your iPhone’s home screen
Sports News2 weeks ago
NFL Analyst Takes a Cheeky Dig on Browns Stars Odell Beckham Jr. and Baker Mayfield