Eight men now control as much wealth as the world’s poorest 3.6 billion people, according to a new report from Oxfam International.
The men — Bill Gates, Warren Buffett, Carlos Slim, Jeff Bezos, Mark Zuckerberg, Amancio Ortega, Larry Ellison and Michael Bloomberg — are collectively worth $426 billion, the anti-poverty group said on Sunday.
“Such dramatic inequality is trapping millions in poverty, fracturing our societies, and poisoning our politics,” said Paul O’Brien, Oxfam America’s Vice President for Policy and Campaigns.
The release of the group’s annual inequality report coincides with the World Economic Forum in Davos. The annual meeting in the Swiss mountain resort brings together political and financial leaders and some of the wealthiest people in the world.
Eight men now control as much wealth as half of the world’s population.
The Oxfam report said that the richest 1% has owned more wealth than the rest of the planet since 2015. In the U.S., the richest 1% control 42% of the wealth.
oil penny stocks: CyberArk Software Ltd.(CYBR)
- [By Joe Tenebruso]
CyberArk Software (NASDAQ:CYBR) reported fourth-quarter financial results on Feb. 9. The Israeli cybersecurity specialist continues to win new business for its “privileged account” security solutions, which help to protect against cyberattacks that use insider privileges to penetrate network perimeters and assault the most sensitive areas of an enterprise’s IT infrastructure.
- [By ]
RB: I thought wed be up more than we are on cybersecurity plays. We have 25% gains on recommendations like Palo Alto Networks (NYSE: PANW). Were off a few percentage points on CyberArk Software (NASDAQ: CYBR).
- [By Lisa Levin]
Some of the stocks that may grab investor focus today are:
Wall Street expects Citigroup Inc (NYSE: C) to report quarterly earnings at $1.26 per share on revenue of $17.71 billion before the opening bell. Citigroup shares rose 0.30 percent to $67.22 in after-hours trading.
Analysts are expecting JPMorgan Chase & Co. (NYSE: JPM) to have earned $1.65 per share on revenue of $25.61 billion in the latest quarter. JPMorgan will release earnings before the markets open. JPMorgan shares gained 0.48 percent to $93.55 in after-hours trading.
Cyberark Software Ltd (NASDAQ: CYBR) lowered its guidance for the second quarter. The company now expects total revenue of $57.0 million to $57.5 million, versus earlier guidance of $61.0 million to $62.0 million. Cyberark shares dipped 17.65 percent to $42.00 in the after-hours trading session.
Before the opening bell, First Republic Bank (NYSE: FRC) is projected to report quarterly earnings at $1.1 per share on revenue of $675.70 million. First Republic Bank shares dropped 0.80 percent to close at $101.35 on Thursday.
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oil penny stocks: General Motors Company(GM)
- [By Paul Ausick]
General Motors Co. (NYSE: GM) on Saturday took the wraps off its redesigned Chevrolet Silverado pickup, the company’s best-selling light vehicle. The 2019 model-year pickups will hit the market late next year and GM hopes they’ll invigorate sales that have been dwindling this year.
- [By Ben Levisohn]
U.S. automakers Ford Motor (F) and General Motors (GM) reported their December U.S. sales today–and went a long way towards dispelling concerns that sales were headed for a rapid decline. The numbers were good enough, in fact, that CFRA Research’s Efraim Levy kept his Strong Buy rating on General motors. He explains why:
- [By JACK HOUGH]
Earnings for GM are expected to jump more than 50% this year, to $4.76, as the company moves past one-time costs related to faulty ignition switches. In two years, earnings could approach $6 a share. That makes the stock look underpriced at a recent $35. Perhaps more impressive than the upside potential for earnings, however, is the potential bottom for profits during the next downturn in car sales. GM has slashed its debt through bankruptcy restructuring and cut its U.S. break-even point from 16 million yearly vehicles to fewer than 11 million. The recent pace of sales is over 18 million. During the next downturn, assuming a sales decline of ordinary size, earnings are likely to remain solidly positive, say $3 to $4 a share.
As investors gain confidence in GM’s improved earnings stability, they could award the stock a valuation more befitting an healthy cyclical business. A rise to 10 times earnings would put shares at $48 based on this year’s estimate, for a gain of over 30%. That doesn’t include next year’s estimated earnings growth, pegged at 13%. GM says that it will break even in Europe by then, and expects to continue to generate solid profits in China. Shares yield 4%.
oil penny stocks: EQT GP Holdings, LP(EQGP)
- [By Elizabeth Balboa]
Not only does Jana consider the deal price overvalued, but it looks to redirect EQT’s focus to a breakup of pipeline operations to transform the core company into an exploration & production firm. The pipelines already trade publicly under EQT Midstream Partners LP (NYSE: EQM) and EQT GP Holdings LP (NYSE: EQGP).
oil penny stocks: Clean Diesel Technologies Inc.(CDTI)
- [By Monica Gerson]
Clean Diesel Technologies, Inc. (NASDAQ: CDTI) is projected to post a quarterly loss at $0.18 per share on revenue of $10.25 million.
Sphere 3D Corp. (NASDAQ: ANY) is estimated to post a quarterly loss at $0.11 per share on revenue of $22.10 million.
oil penny stocks: Codexis, Inc.(CDXS)
- [By Maxx Chatsko]
While companies with lower-priced shares are often riskier than those with higher prices, some companies trading under $5 per share have intriguing potential. Investors searching for overlooked growth opportunities should consider industrial biotech BioAmber (NYSE:BIOA), pharmaceutical services company Codexis (NASDAQ:CDXS), and one-trick-pony biopharma Keryx Biopharmaceuticals (NASDAQ:KERX).
- [By Jim Robertson]
On Tuesday, our Under the Radar Moversnewsletter suggested taking a long/bullish position in small cap biocatalysts developer Codexis, Inc (NASDAQ: CDXS):