It seems Ford Motor Company (NYSE:F) has been besieged recently. Numerous Wall Street analysts have expressed impatience with the pace of its turnaround efforts. Some have even argued that Ford needs to reduce its $0.15 per share quarterly dividend.
On Wednesday, Moody’s added its voice to the chorus of frustration. The prominent credit-rating agency cut Ford’s senior unsecured rating by one notch to Baa3. It also maintained its negative outlook: a warning that another downgrade could be coming.
A downgrade to junk status could be painful for Ford. Nevertheless, in light of the stock’s recent plunge and the company’s multiple potential routes to recovery, I am inclined to buy more shares of Ford stock in the coming weeks, rather than viewing this downgrade as a signal to sell.
Back to the edge of junk territory
Ford worked hard under former CEO Alan Mulally to regain an investment-grade credit rating after being pushed to the brink of bankruptcy during the Great Recession. In addition to being a point of pride, investment-grade status makes it easier (and cheaper) for Ford to borrow money. Some institutional investors can only hold investment-grade rated debt.
Top Cheap Stocks To Buy Right Now: CA Inc.(CA)
- [By Stephan Byrd]
Get a free copy of the Zacks research report on CA (CA)
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- [By Stephan Byrd]
Legal & General Group Plc lessened its stake in shares of CA, Inc. (NASDAQ:CA) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,723,007 shares of the technology company’s stock after selling 113,457 shares during the quarter. Legal & General Group Plc owned about 0.41% of CA worth $61,425,000 at the end of the most recent reporting period.
- [By Timothy Green]
After trying and failing to acquire mobile-chip giant Qualcomm, Broadcom (NASDAQ:AVGO) has turned its attention to other targets. The company announced on July 11 that it had agreed to pay $18.9 billion in cash for CA Technologies (NASDAQ:CA), a software company that derives about half its revenue and most of its profits from software and solutions for mainframe systems. Broadcom is making a very big bet on big iron.
Top Cheap Stocks To Buy Right Now: Technology Select Sector SPDR ETF (XLK)
- [By Steve Symington]
Financials stocks extended Friday’s gains thanks to a continued rebound from insurers, and the Financial Select Sector SPDR Fund (NYSEMKT:XLF) jumped 1.7%. Tech stocks weren’t far behind, with the Technology Select Sector SPDR Fund (NYSEMKT:XLK) up 1.4%, partly buoyed in anticipation of Apple’s big product launch event slated for tomorrow.
- [By Steve Symington]
The market’s gain’s were broad-based, though financials led the way, leaving the Financial Select Sector SPDR Fund (NYSEMKT:XLF) up 0.9%. Technology stocks also enjoyed positive momentum, with the Technology Select Sector SPDR Fund (NYSEMKT:XLK) climbing 0.3%.
- [By ]
This movement has done wonders for the technology sector… Consider this: the widely tracked Technology Select Sector ETF (NYSE: XLK) has returned 223% (more than double the S&P 500) since June 29, 2007 — the release date of the first Apple iPhone, which is arguably when smartphones became broadly adopted.
- [By Jim Crumly]
Biotech stocks had a big day, with the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB) jumping 2.8%. The broad technology sector slipped, and the Technology Select Sector SPDR ETF (NYSEMKT:XLK) lost 0.1%.
- [By Money Morning Staff Reports]
The simplest way is to use bullish call strategies on the S&P 500 Information Technology Sector SPDR exchange-traded fund (NYSE Arca: XLK).
You can use any of his strategies, from buying call options to bull call spreads or the “loophole trade,” as he calls it, which cuts down on risk.
Top Cheap Stocks To Buy Right Now: Blount International, Inc.(BLT)
- [By Shane Hupp]
Deutsche Bank restated their buy rating on shares of BHP Billiton (LON:BLT) in a research report report published on Friday.
A number of other equities research analysts have also issued reports on the company. BNP Paribas reiterated a neutral rating on shares of BHP Billiton in a research note on Thursday, May 17th. Goldman Sachs Group set a GBX 2,050 ($26.20) price target on BHP Billiton and gave the stock a buy rating in a research note on Wednesday, July 18th. JPMorgan Chase & Co. reiterated a neutral rating on shares of BHP Billiton in a research note on Wednesday, May 16th. Citigroup reiterated a buy rating on shares of BHP Billiton in a research note on Tuesday, June 26th. Finally, Cfra set a GBX 1,700 ($21.73) price target on BHP Billiton and gave the stock a neutral rating in a research note on Thursday, July 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of GBX 1,683.63 ($21.52).
- [By Ethan Ryder]
BHP Billiton (LON:BLT)‘s stock had its “market perform” rating reaffirmed by stock analysts at BMO Capital Markets in a research report issued on Tuesday. They presently have a GBX 1,800 ($23.96) price objective on the mining company’s stock. BMO Capital Markets’ target price suggests a potential upside of 8.79% from the stock’s previous close.
- [By Stephan Byrd]
Bloom (CURRENCY:BLT) traded 6.6% higher against the U.S. dollar during the 1 day period ending at 16:00 PM ET on May 20th. Bloom has a market cap of $27.92 million and $265,036.00 worth of Bloom was traded on exchanges in the last 24 hours. One Bloom token can currently be bought for $0.58 or 0.00006858 BTC on major exchanges including Bibox, IDEX, Radar Relay and TOPBTC. During the last week, Bloom has traded 20.6% lower against the U.S. dollar.
- [By Joseph Griffin]
BHP Billiton (LON:BLT) had its target price dropped by research analysts at HSBC from GBX 1,860 ($23.78) to GBX 1,780 ($22.75) in a note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the mining company’s stock. HSBC’s price target would indicate a potential upside of 10.52% from the stock’s current price.
- [By Max Byerly]
Press coverage about Blount International (NYSE:BLT) has been trending positive recently, according to Accern. The research firm identifies positive and negative media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Blount International earned a news sentiment score of 0.31 on Accern’s scale. Accern also gave media stories about the industrial goods maker an impact score of 45.5952046204423 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.