To start closing the Black wealth gap, teach personal finance to high school students

To start closing the Black wealth gap, teach personal finance to high school students

National financial education should be a priority. It’s the best way to give Black students the tools to build wealth and shrink the racial divide. Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it will release its first quarter fiscal year 2021 financial results on August 6, 2020 after market close, by posting its financial results and a letter to shareholders to the investor relations section of its website. The Company Benchmarks closed higher on Wednesday as investors cheered news that the Federal Reserve has left benchmark interest rates unchanged near zero, along with rally in tech stocks and upbeat quarterly earnings report. Singapore’s-national carrier, Singapore Airlines, announced significant losses during the company’s second-quarter financial results. On July 29, the airline announced that the second quarter, which ended on June 30 and was the first of the carrier’s 2020 fiscal year, resulted in a 1.123 billion Singapore dollar ($816 million) loss. These losses come on the back of […] Qualcomm (QCOM) is soaring today to record highs after an earnings beat, after both analysts and options traders came in bullish

Our country is experiencing a challenging time, but as the saying goes: What doesn’t challenge you, won’t change you. Black Lives Matter has become one of the largest movements in history, with recent polls suggesting more than 15 million people have participated. 

While American leaders cannot erase history or undo the racial inequality that Black Americans have faced, they certainly can and should accept responsibility to create and promote new policies that interrupt and ease these injustices.  

National financial education should be a top priority. Everyone agrees that quality education plays a huge role in career success. But a lack of national financial education policies results in few requirements in the majority of our nation’s schools. Just six out of 50 states require high school students to take a personal finance class for a full semester before crossing the graduation stage. 

According to a report by the Institute for Policy Studies, white families in America have a median net worth of about $116,000, after consumer goods are depreciated. The median wealth for Black families is $1,700 — nearly 70 times less! 

Taking a personal finance class equalizes understanding for all students. They learn that owning a car usually decreases wealth, while investing in an IRA increases wealth. They explore real-world topics like establishing credit, investing in the stock market, filing taxes, and choosing different types of insurance. 

Historically, such lessons have been reserved for the wealthy, who are not commonly people of color. A recent Brookings article includes data from 2016 showing that of the Americans in the top 10% based on income, only 3.6% were Black.

The Urban Institute reported that in 2018, 41% of Black Americans owned homes compared to nearly 72% of their white counterparts. Black Americans also have significantly less saved for retirement and, understandably, less to pass onto their kids as an inheritance. 

Just as a lack of access to capital prevents many Black families from achieving the level of wealth enjoyed by most white families, so too does a lack of access to financial education. It prevents them from learning life-changing financial lessons early in life so that they can maximize income, build wealth and work to end generational poverty.

The non-profit group I work with, Next Gen Personal Finance, recently released a documentary that shows how personal finance can transform lives. In “The Most Important Class You Never Had,” Lucy, who attends a small high school in Winooski, Vermont, says talking about money at home “never happened.” But after taking a personal finance course, she started regularly discussing financial topics with her hard-working African mother. She suggested that her mom reduce spending on credit and make more than the minimum payment towards her debt. 

An enormous racial divide:How to shrink the wealth gap for minorities and everyone else while we study reparations

Before graduation, Lucy bought her first car — without taking out a single loan! Financial literacy helped Lucy change her life and her family’s life and now she will avoid some of the terrible financial pitfalls that many others make, and which could result in financial setbacks that last decades. 

Having never received a financial education myself, I piled on nearly $20,000 of credit card debt at extremely high interest rates above 20% during my early twenties. If I’d had access to the financial education Lucy received in school, I would have experienced an incredibly different financial situation after college.

According to a 2019 study, about 76% of Gen Z students wish their high school offered personal finance.We know from being in schools in all 50 states that when personal finance is offered, often it becomes the most popular class, with waiting lists of students. A study last year showed that while nine out of 10 teachers think the subject should be taught, only half of teachers surveyed felt qualified to teach it. 

Inequality crisis: Blacks and Latinos are on the road to zero wealth

Our team has made a start by providing provided thousands of hours of free virtual training sessions for financial educators during the pandemic. If we can offer high quality, 21st century relevant personal finance education to the next generation at no cost, then all schools — not just well-funded ones — should be offering the class today. 

There’s no single explanation for the racial wealth gap. Similarly, financial education is not the single solution. But without personal finance courses, American schools will continue to reinforce racial and socioeconomic inequities. It’s time for our country to take bold action towards preventing the racial wealth gap from expanding. To fully support the Black Lives Matter movement, we must acknowledge and honor that Black wealth matters.

Yanely Espinal is the Director of Educational Outreach at the non-profit group Next Gen Personal Finance. Follow her on Twitter @MissBeHelpful and YouTube

Source: www.usatoday.com


Viasat Schedules Q1 Fiscal Year 2021 Financial Results and Conference Call

Viasat Schedules Q1 Fiscal Year 2021 Financial Results and Conference Call

CARLSBAD, Calif., July 30, 2020 /PRNewswire/ — Viasat Inc. (NASDAQ: VSAT), a global communications company, today announced it will release its first quarter fiscal year 2021 financial results on August 6, 2020 after market close, by posting its financial results and a letter to shareholders to the investor relations section of its website. The Company will also host a conference call and webcast the following morning, on August 7, 2020, at 5:30 a.m. Pacific / 8:30 a.m. Eastern Time.

To participate on the conference call, please dial: (877) 640-9809 in the U.S. or (914) 495-8528 internationally, and reference the conference ID 6073266. The live webcast will be available on Viasat’s investor relations website at: investors.viasat.com.

A replay of the conference call will be available from 8:30 p.m. Pacific Time on Friday, August 7 until 8:30 p.m. Pacific Time on Saturday, August 8. To access the replay, please dial: (855) 859-2056 in the U.S. and (404) 537-3406 internationally, and enter the conference ID 6073266. The webcast will be archived and available on the Viasat investor relations website for approximately one month immediately following the conference call.

Copyright © 2020 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

Cision

View original content:http://www.prnewswire.com/news-releases/viasat-schedules-q1-fiscal-year-2021-financial-results-and-conference-call-301103476.html

SOURCE Viasat, Inc.

Source: finance.yahoo.com


Stock Market News for Jul 30, 2020

Stock Market News for Jul 30, 2020

Benchmarks closed higher on Wednesday as investors cheered news that the Federal Reserve has left benchmark interest rates unchanged near zero, along with rally in tech stocks and upbeat quarterly earnings report.

The Dow Jones Industrial Average (DJI) added 160.29 points or 0.6%, to close at 26,539.57 and the S&P 500 rose 40 points or 1.2% to close at of 3,258.44. The Nasdaq Composite Index closed at 10,542.94, adding 140.85 points or 1.4%.The fear-gauge CBOE Volatility Index (VIX) decreased 5.3%, to close at 24.10. Advancing issues outnumbered declining ones for 2.85-to-1 ratio on the NYSE and a 1.93-to-1 ratio on the Nasdaq favored decliners.

All the 11 major sectors of S&P 500 closed in the positive territory, with energy and financial sectors leading the rally by adding at least 2% on Wednesday. Additionally, gains of at least 1% in shares of Facebook, Apple, Alphabetand Amazon also helped benchmarks rally. The CEO’s of these tech giants testified in front of the U.S. lawmakers following the yearlong anti-trust probe running on these firms.

The blue-chip Dow was boosted by gains from JPMorgan Chase & Co. (JPM – Free Report) , American Express Company (AXP – Free Report) and UnitedHealth Group Incorporated (UNH – Free Report) of at least 2.3%. While, 2.8% decline in shares of The Boeing Company (BA – Free Report) capped gains for the 30-composite index.

Overall, the S&P 500 posted 35 new 52-week highs and no new lows, while the Nasdaq Composite recorded 65 new highs and12 new lows.

On Wednesday, the Federal Reserve Chairman Jerome Powell announced that it has kept its benchmark interest rates unchanged near zero. Powell pledged once again to provide stimulus until the US economy has recovered from the coronavirus pandemic’s impact.

Additionally, he mentioned that the American households and the jobs market have shown slight improved since May. However, rising coronavirus cases in many states have hampered the pace of economic recovery and the Fed will maintain its historic stimulus measures until they are confident the economy has “weathered” the health crisis.

General Motors carriers a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Source: www.zacks.com

Author: Zacks Investment Research


Singapore Airlines Group Announces Financial Results – AirlineGeeks.com

Singapore Airlines Group Announces Financial Results – AirlineGeeks.com

[ News ]July 30, 2020 7:00 am ET

Singapore’s-national carrier, Singapore Airlines, announced significant losses during the company’s second-quarter financial results. On July 29, the airline announced that the second quarter, which ended on June 30 and was the first of the carrier’s 2020 fiscal year, resulted in a 1.123 billion Singapore dollar ($816 million) loss. These losses come on the back of a 99.6% drop in passengers due to the COVID-19 pandemic. 

The net loss for the first quarter is a significant shift from the carrier’s results in the second quarter of 2019, when it recorded a 111 million Singapore dollar profit. While revenue dropped drastically, the airline was able to decrease total expenditures by 52%, largely due to an 87% reduction in net fuel costs.

Overall, the Singapore Airlines Group saw a revenue decline of 3.251 billion Singapore dollars in the first quarter. This number was nearly 80% lower year-on-year and includes revenues from the group’s other carriers: Scoot and SilkAir.

The carrier increased liquidity in the first quarter by nearly 11 billion Singapore dollars. The increase largely is due to the issuance of 8.8 billion Singapore dollars in rights. On top of a liquidity increase, cash and bank balances rose to 9.6 billion Singapore dollars during the quarter.

Although the passenger side of the airline saw a drastic decrease in passengers carried, the airline’s cargo branch, Singapore Airlines Cargo, saw an increase in load factor and in cargo yield. There was a 19% increase in cargo load factor, in large due to the lack of passenger flights that transport some cargo.

The airline group significantly cut its network during the peak of the pandemic, in large part due to border closures. At its lowest point, Singapore Airlines offered flights to only 14 metro areas around the world. At that same time, SilkAir had ceased all operations except flights to Chongqing, China. The group’s low-cost carrier Scoot operated to just two destinations during the peak of the pandemic. 

In April, the group’s airlines operated to just 18 destinations, but that number had increased to 32 by the end of June. The reopening of flights to New Zealand, South Korea, Japan, Australia and other nations has continued, and schedules will be changed to reflect changes in demand and government restrictions.

In a press release, the group projected capacity levels to increase to 7% of pre-COVID numbers by the end of the second quarter. 

The airline parked a majority of its fleet, leaving just 32 aircraft active in passenger service. The airline also continues to operate its fleet of seven cargo-only aircraft, as well as using 33 converted passenger aircraft on cargo-only services. The remainder of the fleet is parked at Singapore Changi Airport and in Alice Springs, Australia. 

The Singapore-based carrier has also been in discussions with Airbus and Boeing regarding delayed deliveries on new aircraft that are on order. The airline has reached an agreement with Airbus and is in negotiations with Boeing. The slowing of delivery schedules will assist the airline in moderating growth while also reducing outgoing cash flow. The airline group currently has close to 150 aircraft on order, ranging including the Boeing 777X, Boeing 737 MAX 8 and the Airbus A350-900.

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Jace Moseley

Being from Seattle, Jace was bitten by the aviation bug at a young age and never outgrew it. Although none of his family is in the industry, he has always wanted to work in aviation in some capacity. He currently in college studying air traffic management.

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Source: airlinegeeks.com

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Options Bulls Circle Qualcomm Stock After Earnings Blowout - Schaeffer's Investment Research

Options Bulls Circle Qualcomm Stock After Earnings Blowout – Schaeffer’s Investment Research

The shares of Qualcomm, Inc. (NASDAQ:QCOM) are up 10.6% at $102.90 at last check, following the company’s fiscal third-quarter report, detailing lower-than-expected revenue but earnings that beat estimates. To follow, no fewer than 12 analysts hiked up their price targets — the highest from Canaccord Genuity to $137 from $115. 

Today’s pop has QCOM gapping to a new record high of $103.98, soaring above January 17th’s all-time high of $96.17. In the past three months, the equity is up 30.8%, now eyeing its fourth-straight monthly win. 

On the analyst front, 14 out of 19 in coverage sport a “buy” or better, with three at a “hold” and two at a “strong sell.” Meanwhile, the 12-month consensus target price of $106.37, marks a 3% premium to current levels. 

The options pits have been looking notably bullish, per QCOM’s 10-day call/put volume ratio of 5.31 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than all but 5% of readings from the past year, meaning traders have rarely been more call-heavy. 

Today, options volume is exploding. So far, 146,000 calls and 42,000 puts have crossed the tape already, 15 times the expected daily volume. Most popular are the weekly 7/31 100- and 105-strike calls, meaning traders are betting on continued upside by tomorrow’s expiration. 

Lastly, now looks like an attractive time for traders to jump aboard Qualcomm stock with options. This is per the stock’s Schaeffer’s Volatility Index (SVI) of 41%, which stands higher than 20% of all other readings in its annual range. This implies that options players are pricing in relatively low volatility expectations at the moment. 

Source: www.schaeffersresearch.com

Author: by Laura McCandless


To start closing the Black wealth gap, teach personal finance to high school students


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