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Stocks on the move: Eastman Kodak after review finds no insider trading

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Stocks on the move: Eastman Kodak after review finds no insider trading

The On the Move panel discuss today's Stocks on the Move: Eastman Kodak Co.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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How the stock is trading on its first day

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How the stock is trading on its first day

TipRanks

Goldman Sachs Predicts Over 40% Rally for These 3 Stocks

A new wave of optimism is splashing onto the Street. Investment firm Goldman Sachs just gave its three-month stock forecast a boost, lifting it from Neutral to Overweight, with it also projecting “high single-digital returns” for global stocks over the next year.What’s behind this updated approach? Goldman Sachs strategist Christian Mueller-Glissmann cites the impressive rebound in global earnings growth and reduced equity costs as the drivers of the estimate revision. On top of this, a “broader procyclical shift” in stocks and other assets could take place during the remainder of this year.“We have shifted more cyclical on sectors and themes tactically but still prefer growth vs. value on a strategic horizon… In the near-term, elevated uncertainty on U.S. elections and a better global growth outlook might benefit non-U.S. equities more, but in the medium term a large weight in structural growth stocks is likely to support the S&P 500,” Mueller-Glissmann noted.As for the “most important catalyst” that could spur growth optimism in the next year, the strategist points to additional clarity on when and how a COVID-19 vaccine will be available.Turning Mueller-Glissmann’s outlook into concrete recommendations, Goldman Sachs’ analysts are pounding the table on three stocks that look especially compelling. According to these analysts, each name is poised to surge in the 12 months ahead.Raytheon Technologies (RTX)First up we have Raytheon Technologies, which is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers. While shares have stumbled in 2020, Goldman Sachs thinks the weakness presents a buying opportunity.Representing the firm, analyst Noah Poponak points out that RTX is “too high quality and well positioned of a company to trade at an 11% free cash flow yield on the fully aerospace-recovered and fully synergized 2023E free cash.”The analyst’s bullish outlook is largely driven by the company’s aerospace aftermarket (the secondary market that deals with the installation of equipment, spare parts, accessories and components after the sale of the aircraft by the original equipment manufacturer) business, which Poponak argues is “the best sub-market within Aerospace over the long-term.” This segment makes up roughly 45% of RTX’s aerospace revenue.Even though COVID-19 flight disruptions have weighed on this part of the business, Poponak points out total aircraft in service is down only 25% year-over-year, and flights have dipped less than 50%. He added, “China domestic traffic is now up year on year, and while international remains depressed, we believe the recovery in global air travel could be quicker from here than broad expectations for a recovery by 2023-2024.”Poponak highlights that in previous downturns, the aftermarket had to confront headwinds that arose from the increased use of parting out, inventory pooling and delayed aftermarket spending. “Even then, aftermarket grew at or faster than ASMs, and we believe there was pent-up demand heading into this downturn that support aftermarket tracking the recovery in global air travel. Long-term, we expect air traffic to grow 2X global GDP, as it has historically,” the analyst commented.Adding to the good news, the Geared Turbo Fan, which is a type of turbofan aircraft engine, product cycle could generate substantial revenue and EBIT growth at Pratt & Whitney, in Poponak’s opinion.“Given the high OE exposure to the A320neo, which has the strongest backlog of any aircraft in the market, we see Pratt OE revenue holding up better and recovering faster than peers. New GTF deliveries will drive expansion in the installed base for Pratt, which was declining for most of the 2000s. Despite the end of V2500 OE deliveries, that program is just moving into the sweet-spot for shop visits on the aftermarket side,” Poponak opined.What’s more, Poponak sees merger synergies as capable of fueling margin expansion and cash generation, with the historical synergy capture in the space implying that upside to guidance isn’t out of the question.In line with his optimistic approach, Poponak stays with the bulls. To this end, he keeps a Buy rating and $86 price target on the stock. Investors could be pocketing a gain of 49%, should this target be met in the twelve months ahead. (To watch Poponak’s track record, click here)In general, other analysts echo Poponak’s sentiment. 7 Buys and 2 Holds add up to a Strong Buy consensus rating. With an average price target of $78.63, the upside potential comes in at 36.5%. (See RTX stock analysis on TipRanks)Boeing (BA)Moving on to another player in the aerospace space, Boeing has also struggled on account of the COVID-19 pandemic, with it failing to match the pace of the broader market. That being said, Goldman Sachs has high hopes for this name going forward.Firm analyst Noah Poponak, who also covers RTX, points out that BA has already trimmed production rate plans by half, compared to the peak plan from before the COVID crisis and MAX grounding. A slower-than-anticipated air travel rebound could result in more reductions, but the analyst argues these would be much smaller than the reductions that have already been witnessed. He added, “Historically, the best buying opportunities in BA shares are right after it has capitulated to production rate cuts.”According to Poponak, compared to previous economic declines, the peak to trough in the current downturn is larger and faster, although this is partly related to the grounding of the 737 MAX in 2019. “We believe this will result in a less severe dislocation of supply and demand balance, and see deliveries recovering to 2018 levels by 2024 as global air travel recovers and airlines replace accelerated retirements,” he explained.As for how the company can fulfill its new production rate plan “given the mix of its backlog is so much more weighted to growth than replacement,” Poponak believes “the answer is that airlines during this downturn are revising that mix.” Since the pandemic’s onset, airlines have revealed higher aircraft retirement plans, and braced for less growth. “That means for a given revision in an airline’s order book, there is also a substantial mix shift toward replacement from growth within the new delivery numbers. Therefore, the backlog will not necessarily lose all of its growth orders,” the analyst stated.Additionally, following an uptick in aircraft order cancellations in March and April, the pace has slowed. “Even assuming another 200-plus unit cancellations this year, we estimate the 737 MAX would have nearly 6X years of production by the middle of the decade at our revised production rate estimates,” Poponak mentioned.When it comes to free cash flow, the analyst is also optimistic, with Poponak forecasting that BA will see positive free cash flow in 2021. “We think the market is underestimating the mid-cycle achievable aircraft unit cash margins across the major programs, extrapolating temporarily negative items into the future, and underestimating the degree of inventory unwind likely to occur in 2021,” he said.If that wasn’t enough, the MAX recertification could be a major possible catalyst. The company is working towards recertification and return to service, with Poponak expecting both to come before year-end.Taking all of the above into consideration, Poponak maintains a Buy rating and $225 price target. This target conveys his confidence in BA’s ability to climb 35% higher in the next year.Turning to the rest of the analyst community, opinions are mixed. With 8 Buys, 8 Holds and 1 Sell assigned in the last three months, the word on the Street is that BA is a Moderate Buy. At $192.40, the average price target implies 16% upside potential. (See Boeing stock analysis on TipRanks)Immatics (IMTX)Combining the discovery of true targets for cancer immunotherapies (therapies that utilize the power of the immune system) with the development of the right T cell receptors, Immatics hopes to ultimately enable a robust and specific T cell response against these targets. Based on its cutting-edge approach, Goldman Sachs counts itself as a fan.Writing for the firm, analyst Graig Suvannavejh notes that unlike CAR-T approaches, a T cell receptor (TCR)-based approach can go after targets inside the cell, and fight the 90% of cancers which are solid tumor in nature. The company is advancing two technologies: ACTengine, designed for personalized TCR-based cell therapies, and TCER, which targets TCR-based bispecific antibodies.ACTengine is the more advanced technology, with its four assets IMA201, a genetically engineered T cell product candidate that targets melanoma-associated antigen 4 or 8, IMA202, which targets melanoma-associated antigen 1, IMA203, which targets preferentially expressed antigen in melanoma (PRAME) and IMA204 that targets COL6A3 (found in a tumor’s stroma and is highly prevalent in the tumor microenvironment/TME in a broad range of cancers) expected to enter the clinic soon.Using the TCER platform, IMTX is developing IMA401 and IMA402, or “off-the-shelf” biologics consisting of a portion of the TCR which directly recognizes cancer cells and a T cell recruiter domain which recruits and activates the patient’s T cells.Speaking to the market opportunity, Suvannavejh mentioned, “Cancer immunotherapies have made great strides over the past decade, and in particular, advances seen with CAR-T have paved the way for cell therapy-based approaches… CAR-T, however, has to date only shown limited effect in treating cancers that are solid tumor in nature. With more than 90% of all cancers being solid tumors — with lung, breast, colorectal and prostate cancers accounting for c.60% of the total — this is the opportunity for IMTX.” To this end, he believes cumulative 2035 sales could land at $15.5 billion for the ACTengine-based assets.Reflecting another positive, since 2017, IMTX has inked at least one significant partnership per year with top global biopharma companies. According to Suvannavejh, each provided non-dilutive funding opportunities.The analyst added, “…the ARYA Sciences Acquisition Corporation, a special purpose acquisition company (SPAC), merger that enabled IMTX to become a publicly traded entity brought in a deep roster of well-known, experienced healthcare-dedicated institutional investors. Taken together, we find these to be validating of IMTX’s longer-term prospects.”Looking ahead, the initial clinical data readouts for IMA201, IMA202 and IMA203, which are slated for Q1 2021, and investigational new drug (IND) application submissions for IMA204 and IMA401 in 2021 and YE2021, respectively, reflect key potential catalysts, in Suvannavejh’s opinion.Everything that IMTX has going for it convinced Suvannavejh to reiterate his Buy rating. Along with the call, he attached a $17 price target, suggesting 73% upside potential. (To watch Suvannavejh’s track record, click here)Are other analysts in agreement? They are. Only Buy ratings, 4, in fact, have been issued in the last three months. Therefore, the message is clear: IMTX is a Strong Buy. Given the $19 average price target, shares could soar 93% in the next year. (See Immatics stock analysis on TipRanks)To find good ideas for 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.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Chromecast with Google TV attempts to revive Android TV for the streaming wars

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Chromecast with Google TV attempts to revive Android TV for the streaming wars

At its Launch Night In event today, Google officially unveiled Chromecast with Google TV. The new HDMI dongle is available starting today in the U.S. for $50 (it’s coming to more countries by the end of this year). That’s quite cheap given that it comes with its own remote control and dedicated user interface. The latter is so important to Google that the company put in the product name. “Think of Google TV as your personal entertainment content curator,” Google TV general manager Shalini Govil-Pai said. “We will be bringing the Google TV experience to many more streaming devices in the Android TV ecosystem. Today, Google TV is making its debut on the all new Chromecast.”

Like all the Google products announced today, Chromecast with Google TV has been leaking for months. The real news here is the confirmation that Google is giving Android TV another go by bringing back Google TV. (Android TV launched in June 2014, succeeding an even earlier smart TV effort from October 2010 called Google TV. Yes, Google rebrands as often and as poorly as Microsoft.) It appears that Android TV will continue to exist, and Google TV is an additional interface that runs on top.

The smart TV space is largely dominated by Tizen and webOS globally, with Roku and Amazon’s Fire TV winning over U.S. consumers. While Google saw plenty of success with its cheap Chromecast TV dongle early on (55 million sold in three years, consumers did not convert to Android TV as they upgraded their TV experience. Google is hoping it can use the successful Chromecast to revive its smart TV ambitions.

With the streaming wars heating up, the game streaming battle igniting, and the pandemic dumping fuel on both, this is Google’s latest attempt to claim the biggest screen in your home. Its Google Home smart speakers (slowly being rebranded under the Google Nest Home) are already in millions of homes, but we are visual creatures and screens are still the golden goose.

Software and hardware

Again, Google is highlighting the software for this Chromecast because it actually has an operating system and a user interface. Previous Chromecasts simply let you cast whatever you were already streaming on your phone or PC — a simplicity that was key to its success but also ultimately led to users looking for a replacement.

Still, Govil-Pai highlighted today what exactly Google TV lets you do. Google TV’s main home page shows titles pulled from all your streaming services like Netflix, Hulu, and HBO Max. (It also shows options from other channels that you don’t have, to show you what you’re missing). A big chunk of the user interface is dedicated to showing you suggestions of movies and TV shows that it thinks you might want to watch.

The hardware is also keeping up with this paradigm shift. If users are going to be doing more than casting, Google is making sure Chromecast with Google TV ships with its own remote control, unlike its predecessors. The remote features a directional pad and dedicated buttons for Google Assistant, YouTube, and Netflix.

Chromecast with Google TV supports 4K and HDR. It works with multiple Google accounts, as well as Bluetooth devices and USB-to-Ethernet adapters.

Finally, the price tag further confirms Google is aggressively pursuing the space again. At $50, Chromecast with Google TV costs $20 less than the Chromecast Ultra.

Stadia

2020 has seen plenty of game streaming services debut in some form, including Microsoft xCloud, Nvidia GeForce Now, and as of last week Amazon Luna. Google launched Stadia in November 2019, but the response has been lukewarm at best.

It’s thus surprising that Google didn’t mention Stadia when discussing Chromecast with Google TV. The company reserved that for the Pixel 5 and Pixel 4a 5G section. Presumably Google will talk up Stadia for the new Chromecast when the company deems it ready for your TV. Maybe a “Chromecast with Stadia” bundle (that includes the Stadia Controller) is in the works.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Woman says she’s unsure why she tried to kidnap Joe Montana’s granddaughter

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Woman says she’s unsure why she tried to kidnap Joe Montana’s granddaughter
The woman who attempted to kidnap NFL legend Joe Montana’s sleeping granddaughter from his home had no idea why she did it, her lawyer claimed. (AP)

The woman who attempted to kidnap NFL legend Joe Montana’s sleeping granddaughter from his home has no idea why she did it, her lawyer claimed.

Sodsai Predpring Dalzell has been charged with grabbing the nine-month-old baby from a playpen and faces eight years in prison if convicted.

Dalzell appeared in court in Los Angeles and pleaded not guilty to felony counts of attempted kidnapping of a child under 14 and burglary.

Authorities say Dalzell, 39, broke into Mr Montana’s luxurious home in Malibu, California, last weekend.

Mr Montana, 64, and his wife, Jennifer, confronted Dalzell and tried to calm the situation by asking her to hand back the baby.

Police say that after a short struggle Mrs Montana managed to grab the child back and Dalzell fled from the scene.

No one was hurt in the incident and Dalzell, who has no prior criminal record, was later arrested.

“Miss Dalzell is extremely apologetic and is very well concerned about the well-being of the family,” Dalzell’s lawyer Ayinde Jones said after the hearing.

“She understands the harm that this has caused the family, friends and also fans of the Montana family. So our heart goes out to them.”

Mr Jones said that his clients’ defense will be, “focused on ensuring that Miss Dalzell gets the help that she may need.”

And he added that he had “no hindsight, no clue as yet on why she did what she did, only that she is very apologetic.

“She has told me over and over again that she understands the harm that she has caused.

“As a parent myself, I can only imagine the pain that it has caused the Montana family.”

Dalzell’s bail was set at $200,000 and she will appear in court again on 20 October.

Mr Montana became a household name as he won four Super Bowls with the San Francisco 49ers and he retired after a 15 year career in 1994.

Mr Montana and his wife have four daughters, but it us unclear which of them is the mother of the baby that was grabbed.

“Thank you to everyone who reached out. Scary situation, but thankful that everybody is doing well,” Mr Montana Tweeted the day after the incident.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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