The “fiduciary rule” is officially dead.
The Labor Department rule, conceived by the Obama administration, was meant to ensure that advisers put their clients’ financial interests ahead of their own when recommending retirement investments.
The rule’s fate was all but sealed with the election of President Donald Trump, who generally opposes financial regulations. Just two weeks into his presidency, he ordered a review of the rule “to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice.”
Then this past March, the rule was dealt a serious blow when a federal appeals court hearing a challenge to the rule by business groups vacated it in a split decision, overturning a lower court. The majority argued, in part, that the Labor Department had overstepped its authority in reinterpreting a fiduciary standard that had been on the books for decades.
Top Financial Stocks To Own Right Now: Sykes Enterprises, Incorporated(SYKE)
Advisors' Opinion:- [By Lisa Levin]
Companies Reporting After The Bell Hertz Global Holdings, Inc. (NYSE: HTZ) is projected to post quarterly loss at $1.31 per share on revenue of $1.97 billion. International Flavors & Fragrances Inc. (NYSE: IFF) is estimated to post quarterly earnings at $1.59 per share on revenue of $909.36 million. Zillow Group, Inc. (NASDAQ: ZG) is expected to post quarterly earnings at $0.06 per share on revenue of $294.79 million. General Cable Corporation (NYSE: BGC) is estimated to post quarterly earnings at $0.15 per share on revenue of $980.61 million. Central Garden & Pet Company (NASDAQ: CENT) is expected to post quarterly earnings at $0.84 per share on revenue of $598.45 million. Cabot Corporation (NYSE: CBT) is estimated to post quarterly earnings at $1 per share on revenue of $746.42 million. Fabrinet (NYSE: FN) is expected to post quarterly earnings at $0.71 per share on revenue of $319.71 million. National General Holdings Corp. (NASDAQ: NGHC) is projected to post quarterly earnings at $0.55 per share on revenue of $1.08 billion. The Navigators Group, Inc. (NASDAQ: NAVG) is estimated to post quarterly earnings at $0.75 per share on revenue of $320.92 million. Diplomat Pharmacy, Inc. (NYSE: DPLO) is expected to post quarterly earnings at $0.22 per share on revenue of $1.29 billion. Trex Company, Inc. (NYSE: TREX) is projected to post quarterly earnings at $1.19 per share on revenue of $172.22 million. AMC Entertainment Holdings, Inc. (NYSE: AMC) is expected to post quarterly earnings at $0.09 per share on revenue of $1.35 billion. Envision Healthcare Corporation (NYSE: EVHC) is projected to post quarterly earnings at $0.64 per share on revenue of $2.02 billion. Regal Beloit Corporation (NYSE: RBC) is estimated to post quarterly earnings at $1.23 per share on revenue of $869.64 million. Amedisys, Inc. (NASDAQ: AMED) is projected to post quarterly earnings at $0.67 per share on revenue of $39 - [By Stephan Byrd]
Shares of Sykes Enterprises (NASDAQ:SYKE) have been given an average recommendation of “Hold” by the seven research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.
- [By Logan Wallace]
Wells Fargo & Company MN boosted its stake in Sykes Enterprises, Incorporated (NASDAQ:SYKE) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,209,615 shares of the information technology services provider’s stock after buying an additional 5,839 shares during the quarter. Wells Fargo & Company MN owned approximately 2.83% of Sykes Enterprises worth $34,813,000 at the end of the most recent reporting period.
Top Financial Stocks To Own Right Now: Radian Group Inc.(RDN)
Advisors' Opinion:- [By ]
Some weeks (like this one), I've never even heard of the company flashing the best-looking "buy" or "sell" signal. To me, that means my process is sound. Stocks of little-known companies can deliver large gains when a catalyst brings the company to the attention of traders -- which is the exact scenario that should play out in Radian Group (NYSE: RDN) over the next few weeks.
- [By Joseph Griffin]
Radian Group (NYSE: RDN) and MGIC Investment (NYSE:MTG) are both mid-cap finance companies, but which is the better investment? We will compare the two businesses based on the strength of their profitability, earnings, dividends, risk, valuation, analyst recommendations and institutional ownership.
- [By Logan Wallace]
Raiden Network Token (CURRENCY:RDN) traded up 6.6% against the dollar during the twenty-four hour period ending at 18:00 PM Eastern on September 30th. Raiden Network Token has a total market cap of $24.06 million and approximately $221,978.00 worth of Raiden Network Token was traded on exchanges in the last 24 hours. In the last seven days, Raiden Network Token has traded down 2% against the dollar. One Raiden Network Token token can currently be bought for $0.48 or 0.00007261 BTC on popular exchanges including Bibox, Kyber Network, LATOKEN and DDEX.
- [By Logan Wallace]
Raiden Network Token (CURRENCY:RDN) traded up 10.8% against the dollar during the 1-day period ending at 15:00 PM ET on July 17th. One Raiden Network Token token can currently be purchased for $0.88 or 0.00012025 BTC on cryptocurrency exchanges including OKEx, Bibox, Gate.io and LATOKEN. Raiden Network Token has a market capitalization of $44.34 million and approximately $1.18 million worth of Raiden Network Token was traded on exchanges in the last 24 hours. During the last week, Raiden Network Token has traded 18.5% higher against the dollar.
- [By Joseph Griffin]
Radian Group (NYSE:RDN) was downgraded by analysts at ValuEngine from a hold rating to a sell rating.
Charles Schwab Co. Common Stock (NYSE:SCHW) was downgraded by analysts at ValuEngine from a buy rating to a hold rating.
Top Financial Stocks To Own Right Now: Ardelyx, Inc.(ARDX)
Advisors' Opinion:- [By Lisa Levin]
Ardelyx, Inc. (NASDAQ: ARDX) was down, falling around 13 percent to $3.945. Ardelyx priced its 12.5 million share offering at $4.00 per share.
Commodities
- [By Lisa Levin]
Check out these big penny stock gainers and losers
Losers Sesen Bio, Inc. (NASDAQ: SESN) fell 21.7 percent to $2.35 in pre-market trading after dropping 23.00 percent on Monday. Libbey Inc. (NYSE: LBY) shares fell 18 percent to $5.61 in pre-market trading after the company announced the suspension of its quarterly dividend. The company cited the prioritization of debt reduction and strategic investments as a reason for the move. Dycom Industries, Inc. (NYSE: DY) fell 12.8 percent to $101.31 in pre-market trading after the company reported weaker-than-expected results for its third quarter and lowered its FY19 outlook. Pure Storage, Inc. (NYSE: PSTG) fell 9.9 percent to $21.25 in pre-market trading despite reporting a first-quarter earnings and sales beat. The company issued relatively in-line second quarter sales and earnings guidance. Ardelyx Inc (NASDAQ: ARDX) shares fell 8.9 percent to $5.15 in pre-market trading after announcing a $50 million common stock offering. GSV Capital Corp. (NASDAQ: GSVC) shares fell 8.8 percent to $6.40 in pre-market trading after dropping 2.09 percent on Monday. Melinta Therapeutics, Inc. (NASDAQ: MLNT) fell 8.2 percent to $6.70 in pre-market trading after the company disclosed a $75 million common stock offering. Altice USA, Inc. (NYSE: ATUS) shares fell 4.1 percent to $18.90 in pre-market trading after dropping 4.78 percent on Monday. Clearwater Paper Corporation (NYSE: CLW) shares fell 4 percent to $25.25 in pre-market trading. SailPoint Technologies Holdings, Inc. (NYSE: SAIL) fell 3.4 percent to $21.68 in pre-market trading following announcement of 15 million share follow-on offering. Juniper Networks, Inc. (NYSE: JNPR) shares fell 3.3 percent to $26.10 in pre-market trading. Advance Auto Parts, Inc. (NYSE: AAP) fell 2.5 percent to - [By Ethan Ryder]
ValuEngine upgraded shares of Ardelyx (NASDAQ:ARDX) from a sell rating to a hold rating in a research report sent to investors on Friday.
Several other research analysts have also weighed in on ARDX. BidaskClub lowered Ardelyx from a buy rating to a hold rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Ardelyx from a buy rating to a hold rating in a research report on Friday, February 2nd. Cantor Fitzgerald set a $12.00 price target on Ardelyx and gave the company a buy rating in a research report on Monday, February 12th. Wedbush reissued an outperform rating on shares of Ardelyx in a research report on Thursday, March 15th. Finally, Leerink Swann reissued an outperform rating and set a $13.00 price target on shares of Ardelyx in a research report on Monday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $13.08.
- [By Brian Orelli]
Shares of Ardelyx (NASDAQ:ARDX) got smacked down 19.5% on Tuesday after announcing that it was raising cash two different ways after the bell yesterday.
- [By Lisa Levin]
Ardelyx, Inc. (NASDAQ: ARDX) was down, falling around 14 percent to $3.90. Ardelyx priced its 12.5 million share offering at $4.00 per share.
Commodities
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