NEW DELHI (Reuters) – Dozens of India’s technology startups, chafing at Google’s local dominance of key apps, are banding together to consider ways to challenge the U.S. tech giant, including by lodging complaints with the government and courts, executives told Reuters.
Although Google, owned by Alphabet Inc , has worked closely with India’s booming startup sector and is ramping up its investments, it has recently angered many tech companies with what they say are unfair practices.
Setting the stage for a potential showdown, entrepreneurs held two video conferences this week to strategise, three executives told Reuters.
“It’s definitely going to be a bitter fight,” said Dinesh Agarwal, CEO of e-commerce firm IndiaMART . “Google will lose this battle. It’s just a matter of time.”
He said executives have discussed forming a new startup association aimed chiefly at lodging protests with the Indian government and courts against the Silicon Valley company.
Nearly 99% of the smartphones of India’s half a billion users run on Google’s Android mobile operating system. Some Indian startups say that allows Google to exert excessive control over the types of apps and other services they can offer, an allegation the company denies.
The uproar began last month when Google removed popular payments app Paytm from its Play Store, citing policy violations. This led to a sharp rebuke from the Indian firm’s founder, Vijay Shekhar Sharma, whose app returned to the Google platform a few hours later, after Paytm made certain changes.
In a video call on Tuesday, Sharma called Google the “big daddy” that controls the “oxygen supply of (app) distribution” on Android phones, according to an attendee. He urged the roughly 50 executives on the call to join hands to “stop this tsunami.”
“If we together don’t do anything, then history will not be kind to us. We have to control our digital destiny,” Sharma said.
One idea raised was to launch a local rival to Google’s app store, but Sharma said this would not be immediately effective given Google’s dominance, one source said.
Sharma and Paytm, which is backed by Japan’s SoftBank Group Corp , did not respond to requests for comment.
Google declined to comment. It has previously said its policies aim to protect Android users and that it applies and enforces them consistently on developers.
This week the U.S. company angered some Indian startups by deciding to enforce a 30% commission it charges on payments made within apps on the Android store.
Two dozen executives were on a call on Friday where many slammed that decision. They discussed filing antitrust complaints and approaching Google’s India head for discussions, said two sources with direct knowledge of the call.
Participants included sports technology firm Dream Sports, backed by U.S. hedge fund Tiger Global, social media company ShareChat and digital payments firm PhonePe, the sources said. None of those companies responded to requests for comment.
Google already faces an antitrust case related to its payments app in India and a competition investigation into claims it abused Android’s dominant position. The company says it complies with all laws.
These spats strain Google’s strong ties to Indian startups. It has invested in some and helped hundreds with product development. In July, its Indian-born CEO Sundar Pichai committed $10 billion in new investments over five to seven years.
The conflict “is counterproductive to what Google has been doing – it’s an odd place for them to be,” said a senior tech executive familiar with Google’s thinking. “It’s a reputation issue. It’s in the interest of Google to resolve this issue.”
Paytm on Saturday told several startup founders, in a communication seen by Reuters, that it was collating input on challenges to Google Play Store and its policies to submit to the authorities.
Tesla Inc, an American electric vehicle and clean energy company based in California, said on Friday that it produced just over 145,000 vehicles and delivered a record 139,300 vehicles in the third quarter, shrugging off the good news shares fell over 5% in pre-market trading.
Here are Berkshire’s highest-yielding stocks. With interest rates near 0%, investors looking for reliable yield have few viable options. Fortunately, Berkshire Hathaway (ticker: BRK.A, BRK.B) CEO and legendary value investor Warren Buffett has been one of the most steady performers on Wall Street in recent decades.
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The approach of building a synthetic pension makes sense, says Wade Pfau, a professor of retirement income at the American College of Financial Services: “You build a floor of your income, and you spend a percentage of what is left.”
Devin McDermott, head of North American oil and gas research at Morgan Stanley, favors Chevron and an assortment of companies that typically focus on infrastructure such as pipelines to transport oil and gas including Magellan Midstream Partners and Enterprise Products Partners.
With President Trump hospitalized with the coronavirus, Dow Jones futures and the stock market rally are likely to take their cue from his condition. Here’s your investing prescription
The stock market has been raging with volatility as various market sectors have responded differently to the brief economic recession. AMC temporarily suspended its global operations in mid-March and remained closed through the second quarter ending June 30, with little to no revenue coming in.
As Tuesday of this week came and went, truck drivers gained several new benefits from changes to hours-of-service (HOS) regulations. One significant change is the split-sleeper berth exception.Tuesday’s change is not technically new to the HOS regulations but rather an addition to the existing rule. Previously, drivers could utilize a split-sleeper berth exception in an 8/2 split. The new option adds a 7/3 split.It’s unclear how many drivers utilized the provision before, and it’s even more uncertain how many will use the new option.Inside hours-of-service changes: How driver productivity, safety benefitAdjustments to the 30-minute break and split-sleeper use could boost driver productivity and reduce violations.Click to read more”If the driver is properly trained on the split-break exception and is using an ELD (electronic logging device) that has split logging built into its rule set, the odds of the driver making an error and receiving a citation are fairly low,” Tom Bray, transport industry consultant for J. J. Keller & Associates Inc., told FreightWaves this summer. “Another way to put it is that using an ELD with the split-logging exception can prevent violations if a carrier allows its drivers to take advantage of the flexibility split logging provides.”Drivers using the split would be able to take “their required 10 hours off duty in two periods, provided one off-duty period (whether in or out of the sleeper berth) is at least two hours long and the other involves at least seven consecutive hours spent in the sleeper berth,” the Federal Motor Carrier Safety Administration (FMCSA) said.Neither period can count against the 14-hour driving window. Many drivers did not benefit from the 8/2 rule because of its complexity, but the addition of a 7/3 option may be more enticing. It could, however, further confuse drivers who previously struggled with 8/2 split compliance. Annette Sandberg, CEO of TransSafe Consulting and former administrator of the FMCSA, told FreightWaves the new rule adds complexity for drivers.”The new split sleeper is even a bit more complicated than the earlier rule, mostly because a driver does not have to count either the long sleeper berth period or the shorter break in their daily 14-hour calculation,” she said. ELDs should have been programmed for the change, Sandberg said, but “each ELD manufacturer likely has their own twist on how they would notify a driver of a violation or how their hours are being calculated.”In a 2018 webinar, noted safety expert John Seidl explained how the 8/2 split could be used, and the same theory applies to the 7/3 split. According to Seidl, a driver who starts his day at 7 a.m. would start his 14-hour clock. Using one hour of on-duty, non-driving time would reduce the 14-hour window but not the 11 hours of drive time. At 8 a.m., the driver starts driving and drives until 1 p.m. He has now used five hours of the 11-hour drive time and six hours of the 14-hour clock. At this point, the driver takes an eight-hour break in the sleeper berth. This time, taken in the sleeper, effectively stops the 14-hour clock. At 9 p.m., the driver gets back into the driver’s seat and still has six hours of available drive time and eight hours on the 14-hour clock. Six hours of driving takes the driver to 3 a.m., when two hours of off-duty time would satisfy the 10-hour break required under FMCSA rules.OOIDA Foundation explains how to use split sleeper provision FMCSA continues to study ways to make a split-sleeper provision more beneficial for drivers. In August, the agency published a proposed Split Duty Pilot Program in which participating truck drivers would have the option to pause their 14-hour driving windows with off-duty periods lasting between 30 minutes and three hours. This is a separate initiative from Tuesday’s changes.Sandberg noted potential problems drivers could face with the new changes include compliance issues if a driver relies on an ELD for managing hours and the device manufacturer has either not programmed in the changes or done so incorrectly. Secondly, drivers who do not have a sleeper berth can’t use the split-sleeper provision even if they are on the road for days at a time.”I suspect some drivers will simply try to record time as sleeper even though they do not have a sleeper berth,” she said. “Also, you cannot use the new sleeper berth rule to try to extend your 14-hour day [when] the longer of your two breaks is ‘off duty.’ The longer of the two breaks must be in the sleeper berth.”Sandberg said drivers and carriers should request specific documentation from their ELD providers to understand how their systems calculate the rules and how they warn the driver of a potential violation before it happens. Carriers need to ensure all drivers are trained in the provision, she added.”I used to say you are always better off just taking a solid 10 [hours] off duty and then you don’t have to worry about making a mistake and being put out of service,” Sandberg said. “However, I understand that for drivers out on the road, this new provision will help them by getting rest with the shorter break and then they can still get the rest they need with at least seven hours in the sleeper.”The big thing is if a driver wants to use the new rule to extend their 14-hour window – make sure the longer break is in the sleeper and the two breaks together equal 10 hours,” she added. “They still are not allowed to exceed 11 hours of drive time and they need to be watching how their drive time is calculated within that 14-hour window.”Click for more FreightWaves articles by Brian Straight.You may also like:FMCSA issues final driver HOS ruleThe 8/2 split sleeper and the future of hours flexibilityInside hours-of-service changes: How driver productivity, safety benefit See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Q4 Begins With Rates Up 28% Year-Over-Year * Real Estate Roundup: Warehouse And Distribution Demand Soars, So Does Community Opposition(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors are betting big on Plug Power (NASDAQ:PLUG) as they hunt for the next Tesla (NASDAQ:TSLA). PLUG, a provider of hydrogen engines and fueling solutions, is up some 600% this year, and has a market cap of more than $5 billion. “This isn’t a company talking about doing this at a future date,” said Chief Executive Officer Andrew Marsh in a phone interview.
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As the fourth quarter began, it’s a sensible time to start lining up stocks for the coming year. The investing environment is unsettled, at the least, with the coronavirus still behaving unpredictably, the election around the corner, and a strong, but somewhat unsteady, economic recovery in progress after the summer’s sharp recessionary pressures. It’s no wonder, then, that investors welcome the professional insight of Wall Street’s stock analysts.Those analysts have been working overtime through this eventful year, and with 2021 around the corner, they are starting to point out their best ideas for the new year. We used the TipRanks database to pull up the details on three stocks which the analysts describe as their ‘top picks.’ Let’s take a closer look.SLM Corporation (SLM)The first Top Pick we’re looking at today, SLM Corporation, is better known as Sallie Mae. It’s a major loan company in the secondary education sector, providing financing, debt management, and servicing for student loans, both private and US government-guaranteed. The company has been a great beneficiary of the expansion of student loan programs – and the increase in college tuitions – over the past few decades.The headwinds facing the company are real. The virus pandemic forced university closures in the spring, and pushed classes to online venues in the summer and going forward to the fall. This has resulted in lower tuition charges, just as the economic disturbances have made it more difficult for loan recipients to make payments. Student loans are famously non-dischargeable through bankruptcy, but payments can be deferred – and that has been happening.With all of that, Sallie Mae started 2020 on a true high note. Revenues, and earnings, both spiked sharply upward in the first quarter, with the top line reaching $692 million and EPS coming in at 79 cents. There was an ominous sign, however, as earnings missed the forecast by 10%. That warning was borne out in Q2, when the coronavirus hit. Both revenues and earnings fell sharply. Revenues dropped by well over $300 million, and EPS turned deeply into negative territory. The EPS loss for Q2, at 22 cents, was far below the 6-cent profit expected. Wells Fargo analyst Moshe Orenbuch, rated 5-stars at TipRanks, believes that SLM has better prospects going forward should President Trump win reelection, but would still fare well under a Biden Administration. He writes, “[We] believe that SLM will rerate upward in a Trump repeat and eventually as investors realize that in a Biden presidency free public school tuition for all is a low priority with a high price tag…” Orenbuch goes on to add that SLM has a solid base in a social reality: “We think that the value proposition of graduating from college, especially for upper-middle class borrowers, entails a shoot at premium jobs/careers. As long as the vast majority of companies require college degrees, we expect little change to demand for higher education…”With solid demand as a base, and adequate prospects going forward no matter who wins in November, SLM earns Orenbuch’s Top Pick status and a Buy rating. Orenbuch gives SLM a $12 price target which suggests a 48% upside for the coming 12 months. (To watch Orenbuch’s track record, click here)Overall, SLM has a Strong Buy rating from the analyst consensus, based on 4 reviews breaking down to 3 Buys and 1 Hold. The shares are selling for $7.97, and their average price target of $9.33 indicates room for a 17% one-year upside. (See SLM stock analysis on TipRanks)Booking Holdings (BKNG)The next stock on our Top Picks list is a holding company. Booking Holdings is a leader in the online travel sector, with subsidiaries providing ticketing, bookings, and other travel services worldwide. Booking Holdings operates in 220 countries and 40 languages, and last year customers used the service to book 7 million airline tickets, 845 million hotel room nights, and 77 million car rental days. The company’s best-known brands are Booking.com and Priceline.As can be imagined, the travel restrictions put in place to combat the corona pandemic put a damper on BKNG’s business. This was reflected in the financial results; revenues and earnings plummeted in the first half of the year, with the Q2 results getting as low as $630 million at the top line. Earnings for the second quarter were even worse, at a net loss of $10.81. While the stock has partially recovered from the mid-winter market slide, it is still down 15% so far this year.Covering this stock for Cowen, analyst Kevin Kopelman sees Booking Holdings in a good place compared to its competition. He writes, “BKNG gained share vs the overall Hotel industry this summer (est Aug rev -45%, vs -55% for global industry), driven by large selection of Alternative Accommodations and strong position in Europe Leisure Travel. While Europe has become a short-term negative in Sep (est BKNG falling to -50%, global Hotel flattening at -55%), BKNG has nevertheless shown it is relatively well-positioned.”Looking at the travel and leisure sector as a whole, and reflecting on BKNG’s current status, Kopelman adds, “While bad news may not be over, we think this [price] represents a buying opportunity.”To this end, Kopelman selected BKNG as his top pick. The analyst rates the stock an Outperform (i.e. Buy) along with a $2000 price target. This figure suggests a 15% one-year upside potential. (To watch Kopelman’s track record, click here)Overall, with 11 Buys and 10 Holds set in recent weeks, Booking Holdings gets a Moderate Buy rating from the analyst consensus. Shares are selling for $1,700, and the average price target of $1,915 implies a 12% upside from current levels. (See BKNG stock analysis on TipRanks)Dynatrace, Inc. (DT)Last but not least is Dynatrace, an AI software company in the cloud sector. The company’s platform is designed to monitor and manage system architecture and cloud software as an all-in-one tool, giving network managers everything needed to minimize system strain and tag problems in one place.In these days of the ongoing corona crisis and a mass shift to remote working and virtual office spaces, Dynatrace’s product line has become more valuable than ever. This is clear from the company’s share performance – DT has only been trading publicly since August of last year, but in that time the stock has gained 71%.The quarterly results show this, too. The company’s first profitable quarter was Q4 of last year, and revenues continued to grow sequentially in Q1 and Q2 this year. In Q2, the top line was reported at $155 million, with EPS of 9 cents. The earnings beat the forecast by 80%. Not many companies have shown sequential revenue and earnings growth throughout the pandemic period – it’s a clear sign of strength for Dynatrace.Kash Rangan, 5-star analyst from Merrill Lynch, has chosen DT as his top pick, and explains why in a detailed note: “We walked away incrementally positive post the company’s first analyst day that was hosted virtually. It re-affirmed our view that Dynatrace has a highly differentiated technology, addressing a large and growing market ($30bn+), with a durable and balanced business model. Now that the move to the new platform and recurring revenues has been completed, in our view, DT can accelerate execution on becoming even more strategic with Global 15,000 customers (each with $1bn+ in revenues), which face increasingly complex multi-cloud environments.”Accordingly, Rangan gives DT shares a Buy rating, with a $50 price target that implies a 20% upside for the year ahead. (To watch Rangan’s track record, click here)All in all, Dynatrace has a Strong Buy analyst consensus rating, based on 10 Buys and 2 Holds from recent reviews. The stock’s $48.91 average price target suggests room for 17% upside growth from the current share price of $41.81. (See Dynatrace’s stock analysis at 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.
Despite an ongoing pandemic and the U.S. economy barely limping along, the Nasdaq is still trading more than 50% above its March lows. The surge in tech stocks in 2020 has understandably led investors to draw comparisons to the dot-com bubble in 2000.The Nasdaq ultimately peaked at 5,048.62 on March 10, 2000. Of course, some dot-com bubble stocks have performed much better than others in the 20 years since the bubble burst.Cisco’s Past 20 Years: Without a doubt, networking technology stock Cisco Systems, Inc. (NASDAQ: CSCO) has had major difficulty returning to its dot-com bubble levels.Cisco went public way back in 1990, about a decade before the dot-com bubble. The company was the top-performing IPO of the 1990s, according to Forbes. Cisco investors likely never could have foreseen the rise of the internet, smartphones, cloud computing and many of the other dynamics that have propelled a major shift in Cisco’s business over the past 20 years.Cisco has been slowly transitioning its business from networking hardware, such as routers and switches, to high-growth businesses like cloud security and digital collaboration.Cisco reached a peak dot-com era market cap of $555.4 billion during the height of the dot-com bubble, briefly making Cisco the most valuable company in the world.Dot-Com Bubble Fallout: Cisco’s high watermark of the dot-com bubble was $146.75 back in 2000 prior to a two-to-one stock split in March of that year. When the bubble burst, Cisco shares tanked, dropping 69.7% in the year following the Nasdaq top compared to a 59.3% overall decline for the index. Unfortunately, when the Nasdaq stabilized, Cisco shares continued to struggle.Cisco’s share price hit $8.12 in late 2002 before rebounding to $29.39 in early 2004. Cisco hit its pre-financial crisis high of $34.24 in late 2007. During the sell-off in 2009, Cisco shares dropped as low as $13.61 but dropped even lower to $13.30 in 2011. The stock didn’t make it back to $30 again until 2015 and didn’t make it back to $40 until 2017.Cisco ultimately made it as high as $58.26 in 2019, but has never made it back to its split-adjusted dot-com bubble high of $73.37, even after 20 years.Cisco fell as low as $32.40 in March 2020 during the COVID-19 sell-off before rebounding to around $40 today.Cisco will forever be known as one of the quintessential dot-com bubble stocks given its market cap peaked at more than half a trillion dollars. Unfortunately, not even Cisco’s dividend payments have helped dot-com bubble investors get back to even.In fact, $1,000 invested in Cisco stock at the dot-com bubble peak would be worth about $762 today, assuming reinvested dividends.Image Credit: PrayitnoSee more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * ‘Nothing Short Of Stupid,’ Hedge Fund Manager Says Of Post-Split Gains In Apple And Tesla(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. So what are the best stocks to buy now or put on a watchlist?
Get a Fidelity portfolio manager’s take on how to seek out opportunities and invest for potential income now, despite low interest rates.
The top electric vehicle manufacturers reported strong vehicle deliveries in the third quarter. Friday brought delivery numbers from EV pioneer Tesla Inc (NASDAQ: TSLA), and two of China’s rising startups, Li Auto Inc. (NASDAQ: LI) and Nio Inc – ADR (NYSE: NIO).Given that Tesla doesn’t break down monthly figures, here’s how each of these companies fared in the quarter. Strong Across-The-Board EV Delivery Growth: Reflecting the solid interest in EVs, each of the companies reported strong double-digit quarter-over-quarter growth.Tesla sells globally, while Nio and Li’s sales are confined to the Chinese market. It should also be noted that Tesla does not issue a geographic breakdown of delivery numbers. Sequentially, Tesla’s growth outdid that of its Chinese rivals.Yet the strong increase should be taken with a pinch of salt. Pressured by factory shutdowns and the COVID-19 impact on consumers, Tesla’s deliveries declined about 6.5% year-over-year in the second quarter.Tesla’s production stood at 145,036 units in the third quarter. China was a major source of strength this quarter, Wedbush analyst Daniel Ives said in a note.At the same time, Nio began seeing a turnaround from the COVID-19 impact toward the end of the first quarter, which culminated in the Chinese company reporting record deliveries of 10,331 vehicles in the second quarter.What’s Next: Following the record third-quarter deliveries, Tesla remains on track to hit its 500,000-vehicle delivery goal for 2020, Ives said.Model 3 demand in China has spiked, especially since Tesla began making the model at its Shanghai Giga.The company is going all-out to ride the Model 3 momentum, and it recently cut the price of the standard range and long-range versions of this model.The price cuts have produced the intended results, as reports suggest Model 3 demand has spiked in response.For Nio, it has been an steady improvement. With the EC6 SUV that Nio began shipping last week, Nio’s sales trajectory is only improving.Nio’s favorability with customers has been increasing, and this bodes well for the company, Deutsche Bank Securities analyst Edison Yu said in a recent note.The analyst predicted record deliveries not only for the third quarter but also the fourth.EV Price Action: Despite churning out record numbers, the shares of Tesla and Nio were lower in Friday’s trading. The weakness is partly attributable to negative broader market sentiment.At last check, Tesla shares were trading down 6.51% to $418.97 and Nio was shedding 1.98% to $21.33.Li Auto shares were trading 1.01% higher at $16.97.Related Links:Tesla Analyst: China ‘Star of the Show,’ Automaker Set To Beat Q3 Delivery Forecast Why Nio Has A Shot At Becoming The ‘Tesla Of China’Photo courtesy of Nio.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Nio Analyst Expects Blockbuster Q3, Q4 Deliveries As Premium Reputation Grows * Nio Shares Rise After EV Maker Announces Autopilot Feature, Faster Charging Options(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Political debate swirls around the Trump tax returns. Trump reportedly paid $750 in his first year in the White House. How much did some predecessors pay?
(Bloomberg) — An industry group representing Walt Disney Co. and other theme-park operators lashed out at new guidance from California, which would only allow attractions like Disneyland to reopen under strict conditions.The organization called for changes to the rules, which haven’t been formally released yet but began to surface on Thursday. Parks would be allowed to reopen at just 25% of capacity and would have to limit visitors to people living within a certain distance, according to Carlye Wisel, an industry podcaster. They’ll also require advance reservations and mandatory face coverings.In a sign of the tensions between Disney and California, Chairman Bob Iger has resigned from the governor’s Covid-19 recovery task force, the company confirmed on Thursday. The Sacramento Bee previously reported his exit.“While we are aligned on many of the protocols and health and safety requirements, there are many others that need to be modified if they are to lead to a responsible and reasonable amusement park reopening plan,” the industry group, the California Attractions & Parks Association, said in an emailed statement.On Friday, California’s Health and Human Services department, which originally planned to release the guidelines this week, said they are now being delayed.“Given the size and operational complexities of these unique sectors, we are seeking additional input from health, workforce and business stakeholders to finalize this important framework — all leading with science and safety,” the department’s secretary, Mark Ghaly, said in an emailed statement.The protocols are one step in the approval process for parks to reopen. Counties where the properties are located will also have to meet milestones for progress in the fight against Covid-19.Disney and other theme-park operations, such as Comcast Corp.’s Universal Studios and SeaWorld Entertainment Inc., have been pressing Governor Gavin Newsom to let them reopen. Earlier this week, 19 state legislators wrote a letter to the governor, a Democrat, saying the time had come.Theme parks in Florida, the largest market, began reopening in June and have done so without large outbreaks, according to officials in that state.Disney, based in Burbank, California, said this week it is laying off 28,000 U.S. workers in its domestic resorts operation — roughly a quarter of the workforce in that division.(Updates with guidelines delay in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Some car companies offer unsold inventory for up to 70% off the listed prices. These deals are only allowed through authorized partners. Search now.
Our nation’s economic balance point has created a virtual seesaw, one where the wealthiest have risen so high, so fast, that those on the bottom may be unable to let them down without damage to everyone involved.
Big pipeline operators like (EPD) (ticker: EPD), (MMP) (MMP), and (KMI) (KMI) are down an average of 44% this year, while the Alerian MLP index is off about 50%. The closed-end funds that focus on pipeline companies generally trade at discounts to their net asset values of 20% or more—the widest in the U.S. closed-end fund market, where the average discount is less than 10%. “You’re buying the funds at a discount to an asset class that is already discounted,” notes Rob Thummel, a portfolio manager at Tortoise, which runs a group of closed-end funds focused on energy infrastructure.
Google Play, Apple, India, App store, Android
World news – CA – Paytm, other Indian startups vow to fight ‘big daddy’ Google’s clout: sources