Tag: In The News
U.S. banks’ key performance metric set to turn around in second half
Jason Benowitz Featured in Reuters “U.S. banks’ key performance metric set to turn around in second half”
Published on September 14, 2022
“Banks were among the worst-performing sectors in the second-quarter earnings season as revenue growth was meager and profit decline was significant,” said Jason Benowitz, senior portfolio manager at Roosevelt Investments. “We expect some modest improvement from this low level in the third quarter.”PayPal shares jump on Elliott’s $2 bln stake, annual profit guidance raise
Jason Benowitz Featured in Reuters “PayPal shares jump on Elliott’s $2 bln stake, annual profit guidance raise”
Published on August 2, 2022
“Considering the stock’s meaningful underperformance over the last nine months, this may be enough to satisfy investors, who have lost some measure of faith in management credibility after so many downward revisions,” said Jason Benowitz, senior portfolio manager at Roosevelt Investments.
“PayPal let an activist investor inside the tent with an information sharing agreement. We expect the company to materially refresh its top management layer and make tough choices to improve profit margins,” said Benowitz.
Analysis: Amazon has a Prime edge over Walmart: richer customers
Jason Benowitz Featured in Reuters “Analysis: Amazon has a Prime edge over Walmart: richer customers”
Published on July 29, 2022
“Amazon delivers a significant amount of its total gross merchandise volume via third-party sellers,” said Jason Benowitz, senior portfolio manager at The Roosevelt Investment Group. “In this business, Amazon collects fees for third-party seller services that we believe are less dependent on the nature of the items sold,” Benowitz said. This also insulates Amazon from changes in consumer spending patterns and may have had a lesser impact on profitability compared to Walmart or other traditional retailers, he added. Read the Full Article HereNasdaq Win Streak Is Fueled by Tech Losers Turning Into Winners
Jason Benowitz Featured in Bloomberg “Nasdaq Win Streak Is Fueled by Tech Losers Turning Into Winners”
Published on June 8, 2022
Jason Benowitz, a senior portfolio manager at Roosevelt Investments, said the prospect of more tightening from the Fed brings too many risks. “We are waiting for clearer signs that we are closer to a bottom and we’re not there yet,” he said. Read the Full Article HereBest Buy earnings expected to fan inflation gloom gripping America’s retailers
Jason Benowitz Featured in Reuters “Best Buy earnings expected to fan inflation gloom gripping America’s retailers “
Published on May 24, 2022
“Inflationary pressures are weighing on discretionary purchases, particularly among low-income consumers. There was also a material shift in consumption from goods to services and demand for large ticket items appear to have suffered the most from this shift,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group. “We believe these trends are likely to weigh on Best Buy’s results and outlook when it reports,” he added. “We believe investors may have gotten ahead of the company and Wall Street analysts by pricing in a downward revision to earnings expectations ahead of the quarterly report,” Benowitz said. Read the Full Article HereBest Buy sees bigger drop in annual sales on inflation hit
Jason Benowitz Featured in Reuters “Best Buy sees bigger drop in annual sales on inflation hit”
Published on May 24, 2022
“We believe investors had anticipated the earnings miss and guidance reduction to a large degree following reports of similar struggles at other retailers,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group.
Read the Full Article HereTech Goes From Haven to Hazard as Investors Fear Recession
Jason Benowitz Featured in Bloomberg “Tech Goes From Haven to Hazard as Investors Fear Recession”
Published on April 7, 2022
“A recession doesn’t look imminent, but the recipe is there,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group. “There are lots of reasons to be concerned and to think that maybe the rally we saw over the last two weeks wasn’t the start of a new market regime and instead more of an oversold bounce.” Read the Full Article HereMegacap Tech Stocks Still Have Lots of Fans After Historic Run
Published on Jan. 5, 2021
Jason Benowitz Featured in Bloomberg “Megacap Tech Stocks Still Have Lots of Fans After Historic Run”
“These companies have profits and cash flows and solid balance sheets,” said Jason Benowitz, senior portfolio manager with Roosevelt Investment Group. “High valuation by itself is not a sufficient thesis to be negative on a stock.”
The big risk, according to Benowitz, is if interest rates rise even more than is currently forecast. Indeed, the Nasdaq 100 fell 1.4% Tuesday as yields on the 10-year U.S. Treasuries jumped 16 basis points in just two days, serving a reminder to technology investors of the need to guard against unwelcome surprises. Higher rates reduce the present value of future earnings, weighing especially on shares of highly valued, fast-growing companies.
Walmart veteran Biggs to step down as CFO next year
Published on Dec. 1, 2021
Jason Benowitz Featured in Reuters “Walmart veteran Biggs to step down as CFO next year”
“Bret Biggs was a candidate to ultimately succeed Doug McMillon as CEO, given his long tenure at the company and broad experience across business units and functions outside of finance,” “However, we expect McMillon to serve many more years at the helm,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group.Here Are The Winners of Metaverse Buzz
Published on Nov. 15, 2021
Jason Benowitz Featured in Yahoo “Here Are The Winners of Metaverse Buzz”
“Whatever the future looks like, it’s going to require accelerated computing,” “We keep thinking of new and better ways to utilize data and we wind up with tremendous growth in data transmission, which drives that cohort of companies whether or not the metaverse comes to reality.” said Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group LLC in New York.
Musk sells nearly $7 bln worth of Tesla shares this week
Published on Nov. 15, 2021
Jason Benowitz Featured in Reuters “Musk sells nearly $7 bln worth of Tesla shares this week”
“We expect the share sales will continue, as Musk holds millions of options worth billions of dollars that would otherwise expire worthless, and he has also prearranged share sales under 10b5-1 plans,” said Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group LLC in New York.
Micron Earnings to Shed Light on Rare Weak Spot in Chip Stocks
Published on Nov. 4, 2021
Jason Benowitz Featured in Bloomberg “Micron Earnings to Shed Light on Rare Weak Spot in Chip Stocks”
While repurchases are likely to rise as economic growth continues, corporations may opt to allocate more cash to capital expenditures like technology and factories, according to Jason Benowitz, a senior portfolio manager at Roosevelt Investment Group. He’s not worried about the prospect of reduced buybacks weighing on the broader market. The Philadelphia semiconductor index has gained 23%, beating the S&P 500 Index and the Nasdaq 100 Stock Index. Makers of equipment used in the production of semiconductors have seen the biggest gains, led by Amkor Technology Inc. and ASML Holding. Micron shares are little changed on the year, while Western Digital has gained about 7%. Micron traded 0.9% lower in morning trading in New York.
“The outlook for global growth remains fairly strong for the second half of this year and 2022 once the delta variant subsides,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group. “Chip stock action reflects that.” Micron is projected to post revenue of $8.2 billion in its fiscal fourth quarter, an increase of 36% from the same period a year ago, according to the average of analyst estimates compiled by Bloomberg. Earnings excluding some items are expected to be $2.34 per share, more than twice what it was in the fourth quarter of 2020.
The Three Pillars of an Exit Plan – A Post-Pandemic Tune-Up
The Three Pillars of an Exit Plan – A Post-Pandemic Tune-Up
Published on Aug. 25, 2021
Investors, businesses, and consumers are focused on the future, and that’s great news.
Over the past few months, I have been talking to family, friends, colleagues, and clients in funeral service about lessons they have learned in the past year. I’m curious how folks think the future will look different. Interestingly, just about everyone gives a different answer about the future of work, life, and daily interactions. To me, the variety of responses is the clearest indication that the uncertainties of the past year have given way to uncertainties about the future.
To me, there is no better way to counter uncertainty than by making a thoughtful, detailed, and ultimately written plan. For many funeral service and cemetery professionals, this may mean taking a look at your business, its value, and your personal financial goals to ensure you have a clear vision for what you want the future to look like. In other words, now is the time to give your financial plan and your exit plan a post-pandemic tune up. I’ll focus on what you need to know for your exit plan here.
The Three Pillars of an Exit Plan
The three pillars of an exit plan are really three sets of questions that funeral service and cemetery business owners need to ask themselves.
Question 1: In order to leave or sell your business, how much would you need to receive in equity and/or after-tax proceeds?
Within the context of the pandemic and the past year, a key data point for all business owners is figuring out how much your business valuation changed. Did the pandemic cause it to increase or decrease? Do you think pandemic-driven forces – like changes to real estate prices, the jobs market, technology’s effect on how businesses offer services, and the changing wants and needs of client families – bode well for the future of your business or work against it?
Answering these questions will not only give business owners a sense of what their business is worth today, it can also begin to address key questions about how the business’s valuation could change in the years ahead.
Another critical issue to think about here is what could happen to the value of your business if tax rates move higher. While we are not tax experts and we urge you to speak to your tax advisor about these issues, here is a hypothetical example to consider:
- Scenario 1: Business owner sells his business in 2021 for $1,500,000. Using 20% federal capital gains rates, the owner receives $1,200,000 net of taxes.
- Scenario 2: Business owner sells his business in 2023 for $1,500,000. By then, capital gains rates have increased to match ordinary income rates (39.6%) for those who earn more than $1,000,000. In this scenario, the owner receives $906,000 net of taxes.
The $300,000 difference between the two scenarios is not a small sum, which is precisely why these types of issues should be front-and-center in exit planning today.
Question #2: When do you want to leave or sell your business?
The decision whether to sell now versus later can be dictated by tax expectations, as demonstrated above. But owners also need to consider the conditions throughout the profession and personal circumstances.
In the funeral service and cemetery profession, an owner may want to strongly consider selling during a period of heightened consolidation, attractively-priced deals, and low cost of capital (for example). The macroeconomic environment also plays a role – if the economy is in growth mode and expanding, there may be more years left in the cycle to accumulate additional value.
On the personal side, many owners need to weigh factors like lifestyle needs, desire to retire versus to work, family life, and/or desire to pursue philanthropic pursuits. At the end of the day, what the business owner wants for themselves personally needs to play a decisive role in how an exit plan is shaped.
Question #3: Who are the possible successors or acquirers of the business?
In all likelihood, the pandemic revealed new information about prospective successors or buyers for the business. Maybe the key employees you had in mind to take over the business struggled to meet the challenges posed by the pandemic. On the flip side, maybe you were surprised by how a family member or a third party stepped up over the past year, shifting your thinking completely about who is best suited to take over the business.
At the end of the day, finding and training a successor is almost certainly a multiyear process, requiring a lot of attention and energy. Owners should consider whether the pandemic made it more – or less – clear who is qualified to lead the business into the future.
The last point to make is that exit planning is a dynamic, methodical, ongoing process – it is not a single event! Owners should not expect to make an exit plan once and never revisit it. Over time, financial situations change, timelines change, personal needs change, taxes change, and the economics of funeral service changes. The pandemic, of course, was a catalyst for change – which to me means owners and investors need to respond by tuning up your financial and exit plan now.
Source: Published in Memento Mori magazine
Nicki Price Adams is the Face of Wealth Management in American Funeral Director
Published on Jul. 16 2021
July 2021: Nicki Price Adams is the Face of Wealth Management in American Funeral Director
Read the Full Article Here
Walmart’s Flipkart raises fresh funds for $38 billion valuation as IPO looms
Published on Jul. 12, 2021
Jason Benowitz Featured in Reuters “Walmart’s Flipkart raises fresh funds for $38 billion valuation as IPO looms”
“It is a triumph for Walmart as investors were initially skeptical of the U.S. retailer’s tie-up with Flipkart,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group. He added the success of Flipkart bolsters India as a destination for foreign investment. Read the Full Article HereCorporate Buybacks Gain Steam With Banks Poised to Boost Buying
Published on Jul. 6, 2021
Jason Benowitz Featured in Bloomberg “Corporate Buybacks Gain Steam With Banks Poised to Boost Buying”
While repurchases are likely to rise as economic growth continues, corporations may opt to allocate more cash to capital expenditures like technology and factories, according to Jason Benowitz, a senior portfolio manager at Roosevelt Investment Group. He’s not worried about the prospect of reduced buybacks weighing on the broader market.
Read the Full Article HereJason Benowitz Featured in Reuters “US STOCKS-Wall St ticks lower in choppy trading ahead of Fed minutes”
Published on Apr. 8, 2021
Jason Benowitz Featured in Retuers “US STOCKS-Wall St ticks lower in choppy trading ahead of Fed minutes”
“The Fed leadership has generally not been concerned with the recent rise in interest rates, suggesting it reflects a pickup in growth rather than inflation. Any signs of inflation is … generally expected to be transitory,” said Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group in New York.
Read the Full Article HereJason Benowitz Featured in TD Ameritrade Network “On the State of the Economic Recovery”
Published on Feb 12, 2021
Jason Benowitz Featured in TD Ameritrade Network “On the State of the Economic Recovery”
Jason Benowitz says that the path of the economy and capital markets will be determined by the path of the virus as the Fed and its global brethren continue to backstop the capital markets.
Watch the full video here
The securities identified and described do not represent all of the securities purchased, sold or recommended for client accounts. The reader should not assume that an investment in the securities identified was or will be profitable.
Reddit Mania Overshadows Outstanding Earnings Season for Tech
Published on Feb. 6, 2021
Febuary 2021 Jason Benowitz’s commentary featured in Bloomberg: “Reddit Mania Overshadows Outstanding Earnings Season for Tech”
Anyone distracted by the Reddit-fueled circus in stocks this month may have missed an important fundamental story: A stellar earnings season for technology companies that helped the group’s shares outperform the market once again.
Read the Full Article HereSELECTED The Bulletin: “Understanding Your Retirement Needs is Key to Effective Succession Planning”
Published on Jan. 5, 2021
January 2021: Corie Gabriel and Nicki Price Adams Featured in Selected Independent Funeral Home’s The Bulletin Article “Roosevelt Investments: Understanding Your Retirement Needs is Key to Effective Succession Planning”
Corie Gabriel is Director and Nicki Price Adams is Marketing Manager of the Private Client Group at SELECTED Preferred Partner Roosevelt Investments. They recently spoke to the bulletin about the services they offer and their support of SELECTED’s Funeral Home + Cemetery Management Community.
Read the Full Article HereDecember 2020: Jason Benowitz, CFA Appeared on CNBC: Investors will be pleased U.S. stimulus package has passed, strategist says”
Published on Dec. 21, 2020
December 2020: Jason Benowitz, CFA Appeared on CNBC: Investors will be pleased U.S. stimulus package has passed, strategist says”
Jason Benowitz, senior portfolio manager at The Roosevelt Investment Group, discusses the U.S. stimulus package and the possible market reaction.
CNBC main video page here“Wall Street Braces for 2021 Oddity: Tech Stocks in the Back Seat” Jason Benowitz’s commentary featured in Bloomberg
Published on Dec. 15, 2020
December 2020 Jason Benowitz’s commentary featured in Bloomberg: “Wall Street Braces for 2021 Oddity: Tech Stocks in the Back Seat”
As 2021 approaches, many on Wall Street are bracing for unfamiliar territory: A year when technology companies may not be the biggest stars of the stock market.
Read the Full Article Here“Clash of consoles: New PlayStation and Xbox enter $150 billion games arena – fight!” Jason Benowitz’s commentary featured in Reuters
Published on Nov 30, 2020
November 2020 Jason Benowitz’s commentary featured in Retuers: “Clash of consoles: New PlayStation and Xbox enter $150 billion games arena – fight!”
Think Michelangelo vs Da Vinci. Muhammad Ali and Joe Frazier. Batman v Superman. Another epic rivalry is rejoined this week when Sony and Microsoft go head-to-head with the next generation of their blockbuster video-game consoles.
Read the Full Article HereNovember 2020: Nicki Price Adams’ Interview in Funeral Director Daily’s “Get to Know Them” Feature
Published on Nov. 18, 2020
November 2020: Nicki Price Adams’ Interview in Funeral Director Daily’s “Get to Know Them” Feature
Not long after I started writing Funeral Director Daily I received some public relations material from a company out of New York City called Roosevelt Investments. The material came from Nicki Price Adams requesting that I include the material in Funeral Director Daily as she thought it might be relevant to those in the death care profession who read us daily. I looked at the information, took a look at the Roosevelt Investment website and determined that she was right on spot. We have published her requested information at times, which has included free webinars, and I am happy when she continues to give us information that our readership may find valuable.
Read the Full Article Here“Crown shareholders express patience amid activist pressure for fiber sale” Jason Benowitz’s commentary featured in DealReporter
Published on Aug 26, 2020
August 2020 Jason Benowitz’s commentary featured in Dealreporter: “Crown shareholders express patience amid activist pressure fiber sale”
Source: Dealreporter, An Acuris company
Read the Full Article HereJuly 2020: Nicki Price Adams is the Face of Wealth Management in American Funeral Director
Published on Jul. 8 2020
July 2020: Nicki Price Adams is the Face of Wealth Management in American Funeral Director
Read the Full Article Here
May 27, 2020: Jason Benowitz, CFA was quoted in the Bloomberg article, “Wall Street Banks Get a Surprise: Investors Like Virtual Events”
Published on May 27, 2020
May 27, 2020: Jason Benowitz, CFA was quoted in the Bloomberg article, “Wall Street Banks Get a Surprise: Investors Like Virtual Events”
Read the Full Article Here
Jason Benowitz, CFA was quoted in the Reuters article, “Stocks Rally, S&P Crosses 3000 Barrier, Oil Gains”
Published on May 25, 2020
May 25, 2020: Jason Benowitz, CFA was quoted in the Reuters article, “Stocks Rally, S&P Crosses 3000 Barrier, Oil Gains”
Read the Full Article Here
Jason Benowitz, CFA was quoted in the Reuters article, “Best Buy warns of profit, sales hit on coronavirus fallout”
Published on Feb. 27, 2020
February 27, 2020: Jason Benowitz, CFA was quoted in the Reuters article, “Best Buy warns of profit, sales hit on coronavirus fallout”
Read the Full Article Here
Jason Benowitz, CFA was quoted in the Wall Street Transcript’s article, “5G Stock is One of Many Top Picks from this Veteran Portfolio Manager”
Published on Dec. 16, 2019
December 16, 2019: Jason Benowitz, CFA was quoted in the Wall Street Transcript’s article, “5G Stock is One of Many Top Picks from this Veteran Portfolio Manager”
Read the Full Article Here
Jason Benowitz, CFA was quoted in the article, “Software Stocks in Free Fall With ServiceNow Results on Deck”
Published on Oct. 22, 2019
October 22, 2019: Jason Benowitz, CFA was quoted in the article, “Software Stocks in Free Fall With ServiceNow Results on Deck”
Read the Full Article Here
Jason Benowitz, CFA appeared on CNBC
August 20, 2018 Press Release: Steven Wasserman and Nicki Price Adams Join Roosevelt Investments
Published on Jul. 22, 2019
August 20, 2018 Press Release: Steven Wasserman and Nicki Price Adams Join Roosevelt Investments
Read the Press Release Here
July 16, 2019: Jason Benowitz, CFA appeared on CNBC
July 16, 2019: Jason Benowitz, CFA was quoted in the article, “US STOCKS-Wall Street muted after mixed bank earnings”
Published on Jul. 16, 2019
July 16, 2019: Jason Benowitz, CFA was quoted in the article, “US STOCKS-Wall Street muted after mixed bank earnings”
Read the Full Article HereRoosevelt Investments Donates $60,000 to the ICCFA Educational Foundation
Published on Jul. 9, 2019
Roosevelt Investments Donates $60,000 to the ICCFA Educational Foundation
Source: July 2019 ICCFA Magazine
Read the Full Article HereMay 23, 2019: Jason Benowitz, CFA was quoted in the Reuters article, “Best Buy keeps full-year view, warns of higher prices from more tariffs”
Published on May 23, 2019
May 23, 2019: Jason Benowitz, CFA was quoted in the Reuters article, “Best Buy keeps full-year view, warns of higher prices from more tariffs”
Read the Full Article Here
May 3, 2019: Jason Benowitz, CFA was quoted in the Bloomberg article, “If This Is a Tech Bubble in Stocks, It’s the Expansionary Phase”
Published on May 3, 2019
May 3, 2019: Jason Benowitz, CFA was quoted in the Bloomberg article, “If This Is a Tech Bubble in Stocks, It’s the Expansionary Phase”
Read the Full Article Here
April 25, 2019: Jason Benowitz, CFA was quoted in the Reuters article, “UK regulator blocks Sainsbury’s $9.4 billion takeover of Walmart’s ASDA”
Published on Apr. 25, 2019
April 25, 2019: Jason Benowitz, CFA was quoted in the Reuters article, “UK regulator blocks Sainsbury’s $9.4 billion takeover of Walmart’s ASDA”
Read the Full Article Here
April 22, 2019: Jason Benowitz, CFA was quoted in the Reuters article, “Kraft Heinz hires global brand expert Patricio as CEO”
Published on Apr. 22 , 2019
April 22, 2019: Jason Benowitz, CFA was quoted in the Reuters article, “Kraft Heinz hires global brand expert Patricio as CEO”
Read the Full Article Here
March 22 2019: Adam Sheer’s Interview on Funeral Nation TV
Published on Mar. 22, 2019
March 22 2019: Adam Sheer’s Interview on Funeral Nation TV
Check out Adam’s interview regarding our collaboration with The Foresight Companies, LLC. serving the funeral services and cemetery professions. The interview on Foresight Roosevelt Wealth Management takes place between timestamp 7:30 and 18.
Watch HereMarch 19, 2019 Press Release: Roosevelt Investments Announces Dynamic New Collaboration with The Foresight Companies
Published on Mar. 19, 2019
March 19, 2019 Press Release: Roosevelt Investments Announces Dynamic New Collaboration with The Foresight Companies
Read the Press Release Here
Feeling unwelcome, Amazon ditches plans for New York hub
Published on Feb. 14, 2019
Feeling unwelcome, Amazon ditches plans for New York hub
Read the Full Article Here
Is Apple too big to fail? Let’s hope so as failure would be catastrophic.
Published on Jan. 29, 2019
Is Apple too big to fail? Let’s hope so as failure would be catastrophic.
Read the Full Article Here
October 10, 2018 Press Release: Roosevelt Investments Acquires Value Architects Asset Management and Blueprint Financial Planning
Published on Oct. 10, 2018
October 10, 2018 Press Release: Roosevelt Investments Acquires Value Architects Asset Management and Blueprint Financial Planning
Read the Press Release Here
June 25, 2018: Jason Benowitz, CFA appeared on TD Ameritrade Network
Published on Jul. 5, 2018
June 25, 2018: Jason Benowitz, CFA appeared on TD Ameritrade Network
Watch Here
Medical device maker Stryker says not in talks to buy Boston Scientific
Published on Jun. 13, 2018
June 13, 2018: Jason Benowitz, CFA was quoted in the Reuters article, “Medical device maker Stryker says not in talks to buy Boston Scientific”
Read the Full Article Here
Best Buy online growth slows, overshadowing strong earnings
Published on May 24, 2018
May 24, 2018: Jason Benowitz, CFA was quoted in the Reuters article, “Best Buy online growth slows, overshadowing strong earnings”
Read the Full Article Here
