Stocks closed lower Monday and oil prices climbed on escalating tensions in the Middle East. Market participants also took a cautious stance ahead of another busy week of corporate earnings and Friday's key jobs report.

Over the weekend, President Donald Trump said via Truth Social that the U.S. will begin guiding ships out of the Strait of Hormuz that have been stranded there during the conflict between the U.S., Israel and Iran.

"This is a Humanitarian gesture on behalf of the United States, Middle Eastern Countries but, in particular, the Country of Iran," Trump wrote in his post. "Many of these Ships are running low on food, and everything else necessary for largescale crews to stay on board in a healthy and sanitary manner."

Stocks were mostly higher at Monday's open, but the price action quickly shifted after the United Arab Emirates said it intercepted three missiles coming from Iran.

At the close, the blue-chip Dow Jones Industrial Average was down 1.1% at 48,941, the broader S&P 500 was 0.4% lower at 7,200, and the tech-heavy Nasdaq Composite was off 0.2% at 25,067.

As for oil prices, front-month West Texas Intermediate crude futures rose more than 4% to settle at $106.42 per barrel.

Norwegian Cruise Line gets hit by higher fuel costs

The ongoing conflict in the Middle East is creating headwinds for Norwegian Cruise Line (NCLH). Shares plunged 8.6% after the cruise operator reported a top-line miss for its first quarter. The company also lowered its full-year outlook, citing higher fuel costs as one of several difficulties it is facing.

"Our outlook reflects an extremely challenging backdrop for the balance of the year," said Chief Financial Officer Mark Kempa on the earnings call. "Keep in mind, our prior guidance did not include any impacts from the disruptions in the Middle East, which is creating incremental headwinds, including pressure on the top line and higher fuel expense."

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Kempa added that managing these costs is occurring at the same time as the company adjusts its revenue management systems, improves marketing and addresses a slow start to the year for bookings.

The earnings calendar picks up in earnest after the close, with tech giant Palantir Technologies (PLTR, +1.4%) set to report.

UPS posts its worst day in nine months on Amazon blow

United Parcel Services (UPS) was the worst S&P 500 stock today, sinking 10.5%. This marks the blue chip stock's biggest one-day decline since July 29, 2025, and comes after Amazon.com (AMZN, +1.4%) said it is launching Amazon Supply Chain Services.

This will open up the e-commerce giant's logistics services to all businesses, allowing them to "move, store, and deliver everything from raw materials to finished products quickly and reliably, using the same supply chain that supports Amazon.com."

Fellow industrial stock FedEx (FDX, -9.1%) also declined on the news.

GameStop sinks on $56 billion eBay offer

GameStop (GME) was another notable decliner on Monday, with the original meme stock sinking 10.1% after a report in The Wall Street Journal said the video-game retailer is making an unsolicited bid to buy eBay (EBAY, +5.1%) for $56 billion in cash and stock.

According to the report, GME has built a 5% stake in EBAY since early February, and its buyout bid represents $125 per EBAY share — a 20% premium to the online retailer's May 1 close.

"EBay should be worth — and will be worth — a lot more money," GameStop CEO Ryan Cohen told The Wall Street Journal. "I'm thinking about turning eBay into something worth hundreds of billions of dollars."

Bernstein analyst Nikhil Devnani sees "real challenges" to the deal. "With $9 billion of cash and securities on hand, GME would need a significant amount of leverage and/or equity issuance to buy out EBAY," Devnani says.

He adds that eBay "itself is in the midst of a turnaround — one that is going well, but to the extent there are any challenges/volatility from categories like Collectibles this could put further strain on the math."

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Equity futures pointed higher until about 45 minutes before Thursday's opening bell, when President Donald Trump said planned tariffs on Mexico, Canada and China will take effect on March 4. Incoming data continue to indicate a relatively stable if not quite normal economy. But the president's post marked the beginning of another up-and-down session for investors, traders and speculators.

Nvidia (NVDA) appeared to absorb the brunt of Trump's latest communiqué from Truth Social and posted the biggest negative number among the 30 Dow Jones stocks the day after the semiconductor superstar and the engine of the AI rally reported fiscal 2025 fourth-quarter earnings.

Multiple blue chip stocks – including old-school international conglomerate 3M (MMM) – caught bids on Thursday. But, after sliding into the closing bell, the Dow Jones Industrial Average was off 0.5% to 43,239.

The broad-based S&P 500 Index gapped up early, dropped into negative territory within the first 30 minutes of action, attempted to rally but closed down 1.6% near its lows of the day at 5,861. The Nasdaq Composite, meanwhile, suffered for its heavy exposure to tech stocks and lost 2.8% to 18,544.

Nvidia: tariff trouble or margin error

The glow of Nvidia Day gave out by 9:30 am Eastern Time, and NVDA stock closed down 8.5%. This drop occurred even though the world's leading AI chipmaker appeared to exceed Wall Street expectations with its results and guidance.

Revenue and earnings figures were fine. And, if you listen to CEO Jensen Huang and Chief Financial Officer Colette Kress, they believe Nvidia's business is optimized for an AI revolution that is still in its earliest stages.

Indeed, the critical next-generation Blackwell program is ramping up faster than expected to satisfy "customers who are anxious and impatient to get their systems," as Huang explained during Nvidia's conference call on Wednesday evening.

That ramp-up is the thing, though: As Kress and Huang detailed, Nvidia's efforts to pull together about 1.5 million parts across 350 manufacturing facilities to make those Blackwell systems have pushed up costs and compressed margins.

Kress emphasized that it's only temporary and that margins will expand from the low 70s to the more familiar mid-70s by fiscal year's end.

"We still believe that the chips, boards, and systems ramp wasn't as smooth as might have been hoped," writes Wedbush analyst Daniel Ives in a post-Nvidia Day note. "But it's hard to argue these issues had a discernible impact on NVDA's trajectory other than perhaps moving some revenue between quarters."

Ives reiterated his Outperform rating (which means Buy) and his 12-month price target of $175. "Given the quarter's strength, a lack of any meaningful concerns and what looks to be extremely clear sailing ahead," the analyst explains, "we see no reason to shift our positive outlook on NVDA."

More major moves

What was once Minnesota Mining and Manufacturing has its roots in the Second Industrial Revolution. But 3M has survived into the dawn of another major upheaval.

After reporting solid results and issuing positive full-year guidance in late January, MMM stock was up 2.1% Thursday as investors digested a plan management introduced Wednesday that it says will help the Post-it Note maker thrive in the new era.

3M, which cut its dividend and replaced its CEO last year, reiterated its 2025 guidance but said organic sales growth "will outperform macro" over the ensuing two years, with operating margin improving to approximately 25% by 2027. Management also forecast "high-single-digit" annual earnings per share growth and "greater than 100% free cash flow conversion."

"Certainly no fireworks," writes Wolfe Research analyst Nigel Coe, "but a balanced financial plan that will likely place a firm emphasis on growth acceleration." Coe's meetings with members of 3M's management team reveal "more focus on new product innovation and customers," citing the leadership of CEO Bill Brown, who assumed the top spot in May 2024.

"This narrative could be the single biggest takeaway." Coe rates MMM stock Buy with a 12-month target price of $170, upside of 13% from Thursday's close.

Meanwhile, Salesforce (CRM) stock fell 4% after the software provider reported mixed results for its fourth quarter and issued a weaker-than-expected outlook for the current quarter and the year ahead.

Snowflake (SNOW) stock surged 4.5% after the cloud company beat top- and bottom-line expectations for its fourth quarter, issued a strong forecast for the year ahead and announced an expanded partnership with Microsoft (MSFT).

eBay (EBAY) stock declined 8.2% after the e-commerce platform beat top- and bottom-line expectations for its fourth quarter but issued a mixed outlook for its first quarter.

Incoming economic data

The Bureau of Economic Analysis reported Thursday morning that its second estimate shows gross domestic product (GDP) increased at an annual rate of 2.3% in the fourth quarter, consistent with the preliminary print and in line with expectations.

And the Census Bureau said new orders for manufactured durable goods were up 3.1% from December to January, to $286 billion.

"Today's estimates place demand for manufactured goods on solid footing to start 2025," writes Barclays economist Jonathan Millar. "Although Q4 GDP estimates have shown declining equipment spending, today's data point to a rebound in spending in Q1."

Meanwhile, the Department of Labor reported that initial claims for unemployment insurance surged to a five-month high during the week ending February 22. The advance figure was 242,000, an increase of 22,000 from the previous week's level, which was revised up to 220,000 from 219,000. The four-week moving average increased by 8,500 to 224,000.

"Today's jobless claims surprise will dial up anticipation for next week's employment data," observes E*TRADE from Morgan Stanley Managing Director Chris Larkin, "but it remains to be seen whether the increase is just an outlier or the beginning of a trend."

Larkin notes that the market's initial reaction to the Trump administration's plan to follow through with tariffs on Mexico, Canada and China "suggests the market continues to be susceptible to policy uncertainty."

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eBay (EBAY) stock is moving lower Thursday after the e-commerce company beat top- and bottom-line expectations for its fourth quarter but issued a mixed outlook for the current quarter.

In the three months ending December 31, eBay's revenue increased 0.7% year over year to $2.6 billion. Earnings per share (EPS) rose 16.8% from the year-ago period to $1.25.

"eBay delivered strong results in the fourth quarter, as we met or exceeded expectations across our key financial metrics," said Chief Financial Officer Steve Priest.

eBay also said Gross Merchandise Volume (GMV) increased 4% year over year to $19.3 billion, which also beat analysts' expectations of $19.1 billion.

"We created a solid foundation to build upon in 2025," Priest added, "and our outlook reflects our confidence in eBay's ability to drive sustainable, long-term growth."

The results beat analysts' expectations. Wall Street was anticipating revenue of $2.57 billion and earnings of $1.20 per share, according to Investor's Business Daily.

For its first quarter, eBay said it expects to achieve revenue in the range of $2.52 billion to $2.56 billion, GMV in the range of $18.3 billion to $18.6 billion and earnings in the range of $1.32 to $1.36.

The midpoints of these ranges were mixed compared with analysts' expectations of revenue of $2.59 billion, GMV of $18.9 billion and earnings of $1.33 per share.

Is eBay stock a buy, sell or hold?

Following its 44.8% total return in 2024 and a 10%-plus run to start 2025, Wall Street is on the sidelines when it comes to the large-cap stock.

According to S&P Global Market Intelligence, the average analyst target price for EBAY is $61.94, which represents a discount of about 1% to current levels. Meanwhile, the consensus recommendation is Hold.

Financial services firm Needham reiterated its Buy rating and $72 price target on EBAY stock following the earnings release.

"EBAY is outperforming other marketplace peers in our coverage, posting the third consecutive quarter of positive GMV growth amid a tough macro backdrop, specifically in the UK and Germany, and management expects this growth trajectory to continue in '25E," says Needham analyst Bernie McTernan in a note this morning.

Mcternan cites 6% growth and "strong trends" in EBAY's core business, which continues "to be a strong driver for the company in their return to sustainable and profitable growth."

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The main equity indexes struggled for direction throughout the session before closing in the red, as market participants awaited tomorrow's inflation report and its implication for interest rates.

The Nasdaq Composite notched another new intraday high, and the S&P 500 was up early too, but they joined the Dow Jones Industrial Average in a day-long drift as investors anticipated the release of Consumer Price Index data for November.

The Bureau of Labor Statistics will release November CPI data tomorrow at 8:30 am Eastern time. According to a consensus compiled by FactSet, the median estimate for year-over-year CPI is 2.7%. October CPI was 2.6%, consistent with the median estimate.

Annual CPI has exceeded the median estimate in five of the past 12 months while meeting it in three months and falling short of it in four months. "If 2.7% is the actual year-over-year increase in the CPI, it will mark the second consecutive month the number has increased," writes John Butters, senior earnings analyst at FactSet. Butters also notes that the trailing 12-month average for annual CPI is 3.0%.

"Stubborn inflation in services ex-housing has been a stumbling block for the Fed," observes BMO Capital Markets Chief U.S. Economist Scott Anderson. "Core inflation (excluding food and energy) is forecast at 0.3% in November, in line with recent firm readings and somewhat above the level the Fed would like to see." Anderson adds that annual core inflation is forecast at "an elevated 3.3%."

According to the CME Group's FedWatch Tool, there is an 86.1% probability the FOMC will cut the federal funds target rate by 25 basis points, or 0.25%, after it meets next week. As of Tuesday's closing bell, the market is pricing in a 69.1% probability the FOMC pauses its rate-cutting process following its first meeting of 2025.

The Nasdaq Composite settled 0.25% lower at 19,687, while the S&P 500 edged down 0.30% to 6,034 and the Dow Jones Industrial Average lost 0.35% to 44,247.

Is GOOGL the first serious quantum stock?

Alphabet (GOOGL) stock surged more than 6% in the first 30 minutes of trading and closed up 5.6% on Tuesday, extending an already impressive rally in the second half of 2024.

In a post on X shortly after noon Eastern time on Monday, CEO Sundar Pichai introduced Alphabet's quantum computing chip, Willow. According to Pichai, Willow "solved a standard computation in less than five minutes that would take a leading supercomputer over 10^25 years, far beyond the age of the universe(!)."

Of greater significance from an efficacy perspective – Pichai says this even before he cites the speed record – is that Alphabet's "state-of-the art quantum computing chip" includes "a breakthrough that can reduce errors exponentially as we scale up using more qubits."

GOOGL has lagged most of its Magnificent 7 peers this year but has made up significant ground since plumbing a near-term intraday low of $147.22 on September 9, rising 25.8% from that level.

Its progress on quantum computing is one factor. Another, as Wedbush analyst Dan Ives notes, is the prospect of lighter regulation of Big Tech under a second Trump administration. "The Street views the breakup and antitrust risk as more diminished," Ives tells Al Root of Barron's.

Ives cites the end of Lina Kahn's term as chair of the Federal Trade Commission in September and the likelihood that President-elect Donald Trump will nominate a friendlier personality to lead the FTC. That's positive for Big Tech generally.

And it seems to be giving GOOGL a particular boost, even as other segments of Alphabet's business, including the iconic Google search engine, face increasing pressures.

Of the 62 analysts who cover the stock, 51 rate GOOGL at either Buy or Outperform. The average 12-month price target, as calculated by S&P Global Market Intelligence, is $209.85, giving shares 14% implied upside from Tuesday's closing price.

Stocks on the move

It is a market of stocks, after all, and these names were particularly active on Tuesday even though the broader equity indexes seemed to tread water.

Oracle (ORCL) stock fell 6.7% after the cloud infrastructure company missed top- and bottom-line expectations for its fiscal 2025 second quarter. Management's third-quarter outlook also came up short of estimates.

MongoDB (MDB) stock sank 16.9% after the document database provider beat top- and bottom-line expectations for its fiscal 2025 third quarter and raised its full-year outlook. At the same time, the company announced the departure of its chief operating officer and CFO Michael Gordon.

eBay (EBAY) declined 2.9% after Jefferies downgraded the e-commerce giant stock to Underperform (equivalent to a Sell) from Hold and lowered its price target to $52 from $60, citing a deceleration in advertising revenue and a recent slowdown in China.

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eBay (EBAY) shares are lower Tuesday after financial services firm Jefferies downgraded the e-commerce stock to Underperform (equivalent to a Sell) from Hold and lowered its price target to $52 from $60, which is more than 17% below where EBAY is currently trading.

The consumer discretionary stock has been on a roll in 2024, up 44% for the year to date, but Jefferies analyst John Colantuoni is concerned about decelerating advertising growth and increased marketing investments.

He notes that advertising growth slowed to 18% in the first quarter of 2024 from 23% in the fourth quarter of 2023, before falling to just 4% in the second quarter of 2024. In Q3 of this year, eBay's ad growth was just 7%.

"We expect slowing advertising growth to eliminate a key source of margin and reinvestment capabilities, resulting in downside to both gross merchandise value and EBITDA [earnings before interest, taxes, depreciation and amortization]," Colantuoni says.

The analyst adds that a recent slowdown in China, which represents about 10% of eBay's revenue, "eliminates a key tailwind to growth."

EBAY is a Hold for most of Wall Street

The majority of Wall Street remains on the sidelines when it comes to the large-cap stock. According to S&P Global Market Intelligence, the average analyst target price for EBAY is $61.94, representing a discount to current levels. Meanwhile, the consensus recommendation is Hold.

Financial services firm Wedbush is one of those with a Neutral rating (equivalent to a Hold) and a $70 price target on EBAY stock.

"Our model implies mid-single digit earnings-per-share growth over the next five years supported by margin gains and share buybacks as the company remains committed to returning capital to shareholders," says Wedbush analyst Scott Devitt. "While we hold a favorable view of the company’s long-term strategy, free cahs flow dynamics, and capital allocation approach, we see few near-term catalysts to drive upside to estimates or a material inflection in growth."

Argus rates EBAY a Buy

Not everyone is so skeptical of EBAY. Financial services firm Argus Research, for one, has a Buy rating on the retail stock and a $70 price target.

"Following the 2015 PayPal spinoff, and the sale of StubHub, the Classifieds business, and other assets, eBay has become a focused e-commerce retailer," wrote Argus analyst Joseph Bonner in a November 11 note. "CEO Jamie Iannone is working to strengthen the eBay Marketplace platform through a continuous blizzard of new features and enhancements centered on improving the user/seller experience, including new seller tools underpinned by generative AI models."

Bonner added that eBay is looking to "build new revenue streams in payments, advertising, cross-border shipping, and even live-event shopping."

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Shares in eBay (EBAY) are moving higher today while Etsy (ETSY) stock is moving lower after investment bank Morgan Stanley (MS) issued calls on both e-commerce stocks early this morning.

"We believe eBay is best-positioned to capture upside from generative AI in 2024," Morgan Stanley analyst Nathan Feather said, according to Bloomberg. 

Feather upgraded eBay’s stock to Buy from Sell and boosted his price target to $62 to $35, making him the most bullish analyst following the stock, according to Bloomberg. The new price target gives the stock implied upside of more than 22% from current levels.

Feather also recommended a pair trade with Etsy, downgrading the stock to Sell from Hold and lowering his price target to $55 from $64, according to Barron's. The new price target on Etsy represents downside of about 18% from current levels.

"We expect the growth profiles to converge and model both grow earnings before interest, tax, depreciation, and amortization (EBITDA) at a 5% '23-'26 compound annual growth rate," Feather said, adding that eBay trades at a 35% discount to Etsy on 2025 EBITDA, according to Barron's.

Argus agrees with the eBay call

Agreeing with the bullish stance on eBay, Argus Research has a Buy rating on the stock and a $58 price target.

"Following the 2015 PayPal spinoff, and the sale of StubHub, the Classifieds business, and other assets, eBay has become a more focused e-commerce retailer," Argus said in a March 8 report. "CEO Jamie Iannone is working to strengthen the eBay Marketplace platform through a blizzard of new features and enhancements centered on improving the user/seller experience, including new seller tools underpinned by generative AI models."

Analysts' average target price on eBay is $50.98, according to S&P Global Market Intelligence, giving the stock essentially no implied upside in the next 12 months or so. The Street's consensus recommendation is Hold.

Truist disagrees with the Etsy call

Truist analyst Youssef Squali strongly disagrees with Morgan Stanley’s stance on Etsy, reiterating his Buy rating and $85 price target in a March 18 report.

"We believe ETSY is an attractive business model with a differentiated offering and a number of product and marketing levers to drive growth and profitability over the next several years," Squali said. "The opportunity ahead, coupled with management's execution track record, fuel our confidence that Etsy can execute against these initiatives and create value for shareholders over the next 12 months."

Analysts' average target price on Etsy is $81.73. Although that gives ETSY implied upside of more than 20% over the next year or so, the Street's consensus recommendation stands at Hold.

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Online shopping sites like Etsy, and eBay, and payment network PayPal, among other companies want Congress to change the new $600 reporting threshold for IRS Form 1099-K. The rule, which won't apply for 2023 due to a recent delay from the IRS, affects millions of people who sell on sites like Etsy and Poshmark and get paid through third-party networks like PayPal, Square, and CashApp.

Previously, to receive a 1099-K, you had to have at least 200 third-party payment network transactions totaling more than $20,000 in gross payments. However, due to a tax law change, a single transaction on a payment network of just $600 could trigger a 1099-K. Some people call this the “600 rule.” The IRS delayed the rule Implementation last year, but that change and the most recent 1099-K delay for the 2023 tax year continue to cause confusion. 

The Coalition for 1099-K Fairness (a group of online marketplaces that oppose the new rule) has urged Congress to get involved. The goal is to have bipartisan legislation that raises the 1099-K threshold, giving relief to “casual sellers.” That includes millions of people who are paid smaller amounts through third-party networks and haven’t received 1099-K forms in the past.

More: IRS Form 1099-K: When You Might Get One From Venmo, PayPal, or Cash App

Is the IRS unfairly targeting casual sellers? 

PayPal, eBay, and Etsy are among several members of the 1099-K Fairness Coalition that want Congress to ensure that casual online sellers aren’t burdened with the IRS 1099-K form. The organization cites a national survey of sellers where: 

• 70% of respondents said they would be deterred from selling online because of the $600 IRS 1099-K reporting requirement. 
• 85% percent of those surveyed didn’t think that the IRS should be “targeting people who only occasionally sell online,” according to the survey.

Members of the Coalition for 1099-K Fairness include Aribnb, Bikelist, eBay, Eventbrite, Block, Inc. (for Square and CashApp), ETA, Etsy, Goldin, Kidizen, Mercari, Noihsaf Bazaar, OfferUp, PayPal, Poshmark, Inc., Reverb, Rover, Sports Fan Coalition, StubHub, TechNet, and Tradesy

According to the Coalition, many transactions casual sellers have “involve the sale of used goods that do not create any tax liability.” (Some of those goods are often sold for less than what the seller initially paid). The organization says on its website that a $600 1099-K threshold would disproportionately burden some taxpayers, who could be at risk of over-reporting their income or “forced to hire a tax professional” to ensure compliance with the reporting requirement.

The Coalition also points out that economic hardship is another factor for nearly 40% of online sellers. The majority (close to 75%) said they sell online to help pay for necessary personal expenses. 

1099-K: What could Congress do? 

The Coalition for 1099-K Fairness wants Congress to pass legislation that would increase the 1099-K reporting threshold. If Congress doesn’t act, the organization says millions of people with relatively small online businesses will receive 1099-Ks for the 2023 tax year. The coalition contends that could cause significant confusion and administrative challenges–not only for networks and sellers but also for the IRS.

In Congress, the Saving Gig Economy Taxpayers Act was reintroduced in the U.S. House of Representatives with bipartisan sponsorship. 

• The legislation would repeal the IRS 1099-K $600 rule and restore the previous $20,000/200 transaction threshold. 
• It’s unclear right now what will happen with the legislation, which is similar to proposals circulated in Congress in the past but failed to gain enough support to pass.

For now? The IRS in November, announced that the $600 1099-K reporting rule won't apply for the 2023 tax year. But remember that the IRS expects you to report all taxable income on your federal return, whether you receive a 1099-K or not. 

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IRS Form 1099-K gets a lot of attention each tax season.

That’s partly because the 1099-K form reports certain payments from payment cards and third-party network transactions. Millions of people use third-party networks (think Venmo, PayPal, Cash App, Stripe, etc.) for business and personal transactions.

However, the 1099-K received attention even before the current tax season because of a new $600 reporting threshold for the form delayed several times by the IRS.

So, it’s important to know what the 1099-K form is and what to do when you do (or don’t) receive one.

What a 1099-K form is used for 

An IRS 1099-K form is an IRS information reporting form.

Payment networks and other providers use the form to report certain transactions from payment cards and through various payment networks.

Third-party payment networks can include a range of providers you’re likely familiar with like Venmo, PayPal, Stripe, and CashApp. If you sell on Etsy, eBay, Depop, or other similar sites, you probably process payments through third-party networks.

1099-K threshold: What is 1099-K income? 

Payment networks are not required to report all transactions on 1099-K forms. There is a reporting threshold that triggers the issuance of a 1099-K.

For your 2025 tax return, the threshold is more than $20,000 in gross payments and more than 200 transactions. That's a change from last year, when more than $5,000 in payments for goods and services through a payment network meant you would likely receive a 1099-K form from that payment network.

• However, it's important to note that the 1099-K is supposed to report transactions for goods and services.
• Personal transactions (e.g., sending money to friends or family not in exchange for goods or services) should not be reported on the 1099-K form.

Is a 1099-K required for $600? 

This marks a return to a higher threshold for the 1099-K, which many will welcome over the previously known $600 rule. That lower threshold caused a lot of confusion, meaning that, for a couple of tax seasons, more people who had never received a 1099-K could receive one.

Under the old rule, if you sold a piece of furniture on eBay for $650 and were paid through a third-party payment network, and that was your only such transaction, you were supposed to receive a 1099-K. A few years ago, that $650 sale would have been far too small to trigger the IRS reporting form.

Now, due to changes in the 2025 GOP tax bill, most casual online sellers won't have to worry about receiving a 1099-K form.

What’s the difference between 1099-NEC and 1099-K?

The IRS 1099-NEC form is used instead of the 1099-MISC. (The form is used by businesses to report non-employee compensation.)

So generally, when you’re self-employed, businesses typically issue a 1099-NEC when you receive a certain amount of money from them.

The threshold for the 1099-NEC reporting form is at least $600. (That threshold is similar to the new, 2023 1099-K threshold. But, the 1099-K focuses on payments received through transactions on payment cards and through third-party payment networks.)

Money reported on a 1099-NEC could be received in various forms including, for example, rents, prizes, and awards.

But similar to the 1099-K, even if you don’t receive a 1099-NEC when you know you received taxable income from a business, you must report that income on your federal return. If you’re unsure how to report self-employment income, consult a professional before you file.

How does a 1099-K affect your taxes?

Whether you receive a 1099-K or not, the IRS expects you to report your taxable income.

Third-party payment networks you had transactions with that trigger the reporting threshold, will send a copy of the form to you and the IRS.

So, when you receive a 1099-K, you should keep it with your tax documents and make sure that the information on the form matches your records.

• Double-check that the income and other information on the form is accurate. If the 1099-K doesn’t belong to you, has an incorrect taxpayer identification number, or has incorrect payment transactions or amounts, contact the payment network that sent you the form.
• Their information should appear on the lower left of the 1099-K.
• They may be able to correct the form. If they send you a corrected version, keep that with any other correspondence from the network, in your files. 

Keeping good records and documentation is the best way to support any deductions claimed and income reported on your federal tax return.

Your claimed tax deductions and credits, and income, taken together, will ultimately determine how much tax you pay overall and whether you receive a tax refund.

The major indexes wiped out yesterday's relief-rally gains and then some Thursday in a market-wide rout as Wall Street took a more sober look at the investing landscape.

For one, most of the worries hanging over stocks haven't disappeared, including on the interest-rate front. While Federal Reserve Chair Jerome Powell did dismiss the idea of a 75-basis-point hike yesterday, the expectation is for at least two more 50-basis-point hikes at the next two Federal Open Market Committee meetings – a still-considerable level of monetary tightening.

"We are still not out of the woods yet, as there is still too much uncertainty over how the Federal Reserve's actions will tame inflation without causing a recession," says Zach Stein, chief investment officer of climate change-focused investment manager Carbon Collective.

Indeed, the yield on the 10-year Treasury, which retreated yesterday, roared back to life Thursday to eclipse 3% once more. That weighed particularly hard on rate-sensitive growth places in tech and tech-esque stocks such as mega-caps Tesla (TSLA, -8.3%), Nvidia (NVDA, -7.3%) and Apple (AAPL, -5.6%).

Speculative assets such as cryptocurrency went heavily risk-off, too; Bitcoin, for instance, plunged 8.9% to $36,287. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)

Gene Goldman, chief investment officer of Cetera Investment Management, pointed to additional drivers for Thursday's woes.

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"There is less optimism around the less hawkish Fed and the softish landing scenario," he says. "We saw data this morning portraying more inflation and a weaker economy – labor costs surged in Q1, unemployment claims rose, and productivity was weaker than expected."

Goldman also pointed to disappointing earnings reports from the e-commerce industry, which, because of high valuations to boot, were selling off particularly hard.

Shopify (SHOP), for one, plunged 14.9% after the e-commerce company reported lower-than-expected adjusted earnings and revenue in its first quarter (20 cents vs. 63 cents est.; $1.2 billion vs. $1.24 billion est.) and projected soft revenue guidance in the first half amid tough comparisons. SHOP also said it will buy San Francisco-based fulfillment startup Deliverr for $2.1 billion.

"Although e-commerce growth was below our view, SHOP is lapping pandemic figures, with comparisons to get more favorable exiting the calendar year," says CFRA Research analyst Angelo Zino (Hold). "That said, we do think consensus expectations will need to be tempered, partly reflecting lower than expected merchant additions to start the year."

eBay (EBAY, -11.7%) spiraled lower despite topping first-quarter estimates after it forecast second-quarter revenues of $2.35 billion to $2.40 billion and adjusted earnings of 87 to 91 cents per share, both under expectations for $2.54 billion and $1.01 per share, respectively. Etsy (ETSY, -16.8%), meanwhile, slightly beat revenue expectations but was merely in-line on profits and forecast Q2 sales of $540 million to $590 million, falling far short of the $627 million analyst mark. Amazon.com (AMZN) bled 7.6% in sympathy.

The result was the worst single-session performance of 2022 for both the Nasdaq Composite (-5.0% to 12,317) and Dow Jones Industrial Average (-3.1% to 32,997), while the S&P 500 (-3.6% to 4,146) was just a hair shy of outdoing its marginally larger decline April 29.

How low could we go from here?

Well, a bear market (a 20% drop from highs) would mean about 3,850 for the S&P 500, and John Lynch, chief investment officer for Comerica Wealth Management, thinks the index could scrape that figure.

"Bear markets without recession tend to be short and shallow," Lynch says. "It's conceivable the S&P 500 needs to establish a bottom in this 3,850 to 4,000 range. Without recession in 2022, which is our base case, stocks can resume higher as equity investors discount cyclical recovery in an environment where monetary policy is no longer shepherding expensive growth and technology names at a multiple of sales."

Other news in the stock market today:

• The small-cap Russell 2000 dropped 4.0% to 1,871.
• U.S. crude oil futures eduged up 0.4% to settle at $1081.26 per barrel.
• Gold futures gained 0.3% to finish at $1,875.70 an ounce.
• Booking Holdings (BKNG) was a rare splash of green today, adding 3.3% after the online travel company reported earnings. In its first quarter, BKNG reported earnings of $3.90 per share on $2.7 billion in revenue, more than the 85 cents per share and $2.5 billion analysts were expecting. The company also posted gross bookings of $27.3 billion, a record quarterly amount. "We have a favorable view of online travel companies, and particularly of BKNG given its focus on Europe, where it generates most of its gross profit," says Argus Research analyst John Staszak (Buy). "BKNG is trading at a projected 2022 price-to-earnings ratio of 20.2, below the average for other online booking companies; however, we believe that it merits a higher multiple given the company's strong earnings outlook."

Warren Buffett Splashes More Cash

Warren Buffett is spending like there's no tomorrow. A Wednesday evening regulatory filing from Berkshire Hathaway (BRK.B, -2.5%) revealed that the Oracle of Omaha's holding company bought $350 million shares in energy firm Occidental Petroleum (OXY, +1.2%).

The Berkshire Hathaway equity portfolio has plumped up on Occidental exposure in recent months – Buffett revealed a nearly 10% OXY stake in early March that now sits at 15.2%, and he also owns $10 billion worth of 8% preferred stock, as well as 84 million warrants to purchase OXY stock. The move is part of Buffett's renewed buying interest in energy that has seen Chevron (CVX) become Berkshire's fourth-largest holding.

All of this falls under an even larger underlying theme, which is that Buffett has gone from being a voracious seller in 2021 to buying everything that isn't tied down this year. Part of that seems to be the Oracle taking advantage of a considerable dip in the market. But a closer look at what Buffett's buying signals that he, like the rest of us, has rapidly rising prices on the brain.

We recently talked to noted Buffett expert David Kass about the Berkshire CEO's recent binge, and how much of Warren Buffett's activity has been connected to inflation.

When it comes to consumer stocks, the November-through-December holiday shopping period is crucial to their success.

And amid supply-chain disruptions and staffing shortages at many companies, it is increasingly clear that only the best retail stocks will have what it takes to navigate the challenging environment in the weeks ahead.

But while the headlines may be offering a Grinch-like feel lately for some retailers, the fact is that there is a select group of consumer stocks that are actually firing on all cylinders and looking eagerly ahead to the final weeks of the year.

With that in mind, here are 13 of the best consumer stocks to buy for the upcoming holiday season.

Many of these stocks have significantly outperformed the S&P 500 already, with either big jumps after recent earnings reports or a continued grind higher that has put their shares at or near new highs. And all of them have a lot to offer investors and should be ones to explore if you're looking for outperformance in the final months of 2021. (We also have you covered if you prefer online retail ETFs for the holiday season.)

Data is as of Nov. 15. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price.

• Market value: $2.7 billion
• Dividend yield: N/A

Abercrombie & Fitch (ANF, $46.16) is a retailer that was once a force to be reckoned with at American malls and high school lunchrooms.

The stock went from more than $80 per share before the 2008 financial crisis to less than $20 a share by early 2009. And though shares partially recovered as the dust settled, the bigger problem ANF faced wasn't the economic downturn but the pressures of e-commerce and changing consumer tastes.

So after a slow bleed for several years and the resulting pain of the pandemic, by late 2020, ANF stock was even lower than it had been back in 2009.

But a funny thing has happened: The brand's slow transformation that began 10 years ago in the wake of the financial crisis was kicked into high gear through this latest disruption caused by COVID-19. The result is that the prior year's loss is not just on pace to be fully erased this fiscal year but turned into a massive profit of $4.49 per share – more than the tally of all its per-share earnings since 2014 combined.

Investors bid shares up more than 15% over a two-day time span this spring as the substance of its recovery started to become clear to Wall Street following the retailer's first-quarter earnings report.

And since then, the company has made continued improvements to its operations to ensure this is not a flash in the pan. In late October, for instance, ANF announced same-day delivery plans and a major logistics hub investment in the Phoenix area to ensure it has the right infrastructure to compete digitally in both the holiday season and in years to come.

• Market value: $19.8 billion
• Dividend yield: 0.8%

Earlier this year, the company formerly known as L Brands spun off its women's wear into the separate Victoria's Secret (VSCO) firm and renamed itself Bath & Body Works (BBWI, $74.81). BBWI will focus on home and body care products under brands including Bath & Body Works, White Barn, C.O. Bigelow and others.

The idea was to rejuvenate this business by separating it from the apparel-focused VSCO and capitalize on a recent shift to "self-care" among consumers that has led to strong spending in the toiletries, fragrance and soaps category.

Admittedly, it's always hard to tell how such a transformation is transpiring without a few years of financials instead of just a few quarters. But in the wake of the spinoff, BBWI has been doing well enough to be worthy of notice.

Specifically, in its second-quarter report back in August, it gapped up more than 10% in a single session after posting a massive 43% surge in sales and a significant profit after a quarterly loss in the year-ago period. This was a record quarter that blew away expectations, and was a clear sign Bath & Body Works is on the track to long-term success in the wake of this restructuring.

Looking forward, things will settle down and analysts are only projecting about 7% revenue growth next fiscal year. And without Victoria's Secret, there will be a lot more attention and a lot fewer excuses as time goes by.

Still, as far as consumer stocks go, the big uptrend in this one hints that Wall Street isn't expecting this turnaround story to fall flat anytime soon. Shares of BBWI are up more than 170% in the last 12 months, with no sign of slowing down as we enter the holiday shopping season.

• Market value: $3.6 billion
• Dividend yield: N/A

Not familiar with the $3.6 billion "lifestyle retail" chain Boot Barn Holdings (BOOT, $121.11)? If you live in a coastal or urban area that's probably not a surprise, as the company specializes in Western-style footwear and apparel ranging from chunky belt buckles to cowboy boots to denim.

Though admittedly a niche store, the roughly 280 Boot Barn stores across 36 states serve a very lucrative segment of the U.S. retail industry. Consider some of its premium boots sell for $2,500 a pair, and iconic Stetson cowboy hats can sell for even more. Those products may not carry the same weight in Paris as they do on the prairie, but that doesn't mean there aren't plenty of customers willing to open their wallets up wide at Boot Barn all the same.

And lately, consumers are headed to BOOT in droves with a willingness to spend big time. In the current fiscal year, for instance, revenue is forecast to surge more than 50% from about $890 million last year to $1.35 billion. Earnings per share are set to explode nearly 160% on top of that, from $2.01 to a projected $5.21. No wonder shares have more than tripled in the last calendar year and are setting new 52-week highs like clockwork – making it one of the best consumer stocks out there.

Though some Wall Streeters may not be willing to spend hundreds or thousands of bucks on country fashion stylings, there's no doubt that much of America disagrees based on this performance. And as luxury retail sales tend to be much more durable than low-end transactions, where middle-class and working-class consumers are quick to pull back in tough times, there's a good chance that Boot Barn stock is just getting started with its recent success.

• Market value: $10.4 billion
• Dividend yield: N/A

At first blush you may think that Crocs (CROX, $177.50) is just that quirky company that was a big-time fad a decade ago but almost went bust in the wake of the financial crisis. While that may be true, it misses out on the very important rejuvenation of the shoemaker in recent years

Case in point: In early 2021, CROX eclipsed its prior all-time high set way back in 2007, and has continued to set new 52-week highs over the last few months.

If you want reasons for this surge in CROX stock, look no farther than the fundamentals. In the current year, Crocs is expected to book a 65% revenue increase over fiscal 2020. And lest you think that's fueled only by a short-term rebound from pandemic lows, the company is projecting more than 20% growth next year on top of that.

From a profit perspective, things look equally impressive, with earnings per share expected to rise more than 135% from $3.22 last year to an estimated $7.59 this year – then forecast to rise another 21% to $9.18 in fiscal 2022.

When it comes to retail stocks, the strength of this one comes from its direct-to-consumer push that allows it to maintain impressive margins, as well as its continued expansion into new geographies and new products. And while its signature colorful clogs still represent the lion's share of revenue, management is pushing hard to diversify – and grow – beyond this already impressive product line.

• Market value: $11.6 billion
• Dividend yield: 1.3%

The typical story for most consumer stocks lately seems to be the lingering impact of a sales bust during the pandemic and a struggle to right themselves as the economy normalizes. But Dick's Sporting Goods (DKS, $134.44) is decidedly different, with a lot of success to speak of despite challenges for its peers.

DKS operates a fiscal year ahead of the calendar year, so the fact that its 2021 revenue was up almost 10% during the disruptions of calendar 2020 is a huge win for the company. Furthermore, projections for the current fiscal year of 2022 show Dick's accelerating even more, with projected 23% revenue expansion and profits set to roughly double over the prior year.

The reasons for this are multifaceted. Firstly, Dick's benefits from being in a retail segment that thrived during the pandemic as folks looked to get outdoors and loaded up on gear like hiking boots and golf equipment to do so.

Secondly, Dick's had already invested in its "omnichannel" operations that allow people to book sales online and either have items delivered to their home or picked up the same day in stores.

And last but not least, this short-term tailwind is proving durable as total e-commerce remains at nearly 20% of total revenue even after the instant pandemic-driven bump – and likely will grow further in the coming years as this shift in consumer behavior becomes widespread and permanent for.

With a dominant presence in the sport goods category, a segment of retail that is sometimes more insulated from e-commerce competition as shoppers like to try on athletic wear or feel the heft of a softball bat in person, Dick's is a stock to watch this all-important holiday season.

• Market value: $6.8 billion
• Dividend yield: 0.2%

For those unfamiliar with Arkansas-based Dillard's (DDS, $342.13), the company was founded in the 1930s and operates roughly 300 retail department stores in the South and Midwest.

Admittedly, it's not the kind of business that has done particularly well lately amid the rise of e-commerce and recent coronavirus disruptions. For instance, evenue had already stagnated, fading slightly from $6.4 billion in fiscal 2017 to $6.3 billion in fiscal 2020, before taking a sharp dive to $4.4 billion in fiscal 2021 that ended in January of this year. That is decidedly bad news for any publicly traded stock and DDS stock took a big hit as a result.

So why is Dillard's on this list of best consumer stocks?

Well, things have stabilized lately now that the economy is opening up again and both investors and Dillard's management team have been forced to reset their expectations after shares plummeted from around $140 at their mid-2015 highs to a pandemic-era low in the $20 range. Now, shares have surged up above $350 on hopes that the company is finally on the right track – and just in time for an important holiday shopping season.

Analysts are expecting Dillard's to swing to a huge profit after last year's operating loss, and see top-line revenue surging to $6.5 billion if projections hold.

It's out of the norm to expect a largely brick-and-mortar company like DDS to emerge from the pandemic actually stronger than when it went in, but the crisis forced store closures and a focus on higher margins that has helped transform this otherwise old-school stock.

• Market value: $46.5 billion
• Dividend yield: 1.0%

An old favorite among e-commerce bulls, eBay (EBAY, $74.21) is much more than just the online auction site that it used to be way back in the late 1990s. Its platforms do still support the garage-sale crowd and bargain hunters, but they also support direct retailers, liquidators, wholesales, import and export companies and much more.

Despite an already impressive scale with $10 billion in annual sales across these channels, eBay continues to enjoy incremental revenue growth. But what's really impressive isn't the single-digit sales expansion but the massive profitability it sees as third-party buyers and sellers do most of the work. For instance, earnings per share are set to expand 16% this fiscal year and another 14% in fiscal 2022. This growth adds to the brisk performance of eBay in 2020 that was driven by stuck-at-home shoppers during the pandemic.

The reason for this success is deceptively simple: EBAY is building on its historic roots to offer a smaller and more personalized feel, catering to collectors and hobbyists and specialists in a way that behemoths like Amazon.com (AMZN) or Alibaba Group (BABA) either can't or won't.

Consider its recent push into factory-refurbished products, where it offers a warranty and curated experience to build confidence among consumers as it offers deals. In this age where fake products and fake reviews abound on many major e-commerce portals, this is a great idea.

Additionally, EBAY has deployed its specialized auction know-how to enter heavy-equipment resales via a strategic partnership with Bidadoo. The used heavy machinery market in the U.S. is estimated to be between $50 billion and $60 billion.

Sure, eBay may never be able to convince shoppers it is the go-to place for a new 4K TV or books or sneakers. But catering to bargain-conscience shoppers looking for quality used products or niche goods? That's in this Silicon Valley icon's DNA – and in 2021, this strategy is not just fending off Amazon, but helping eBay continue to build on its past successes as one of the best retail stocks around.

• Market value: $7.1 billion
• Dividend yield: N/A

Newegg Commerce (NEGG, $19.21) has roughly $7 billion in market value and is one of the founding fathers of the "build your own PC" movement. NEGG has been around since 2001 selling computer components and other consumer tech hardware via its e-commerce platform. Thanks to a strong brand and loyal customers, the company has managed to expand over the years into a truly global e-tailer that serves the U.S., Europe, South America and Asia.

You may think there's no place for PCs in a mobile age, but the truth is that devices have simply become more specialized.

There are your typical mobile devices, the mundane laptops standard at the workplace and school, and then "everything else" that requires a computer. Newegg thrives in this latter category by providing high-quality video cards to serious gamers and graphic designers, studio quality hardware for audiophiles and musicians and all the custom memory and performance solutions that tech-savvy people want to upgrade above the typical run-of-the-mill Dell machine.

Needless to say, the COVID-induced work-from-home craze and the supercharged gig economy have benefited Newegg thanks to its specialization.

In August, NEGG reported that it had seen a 40% year-over-year increase in net sales and a 14% rise in the first half of the year – proving this tech retailer hasn't slowed in 2021. While supply-chain disruptions remain a challenge for consumer stocks as we enter the final months of the year, NEGG seems to be navigating the waters just fine.

• Market value: $4.6 billion
• Dividend yield: N/A

While some consumers may only know the $4.6-billion e-commerce portal Overstock.com (OSTK, $106.89) as an online discounter, more active traders will know that this company has been a pretty volatile and quirky investment over the last few years. Consider it went from a 2017 high of almost $80 a share to less than $7 a share by late 2019 as it struggled to turn a profit and faced anemic sales growth when compared with other online competitors.

Or more recently, Overstock introduced a "digital dividend" in 2020 as part of its big push into the cryptocurrency and blockchain arena. Shareholders were given one digital share of the OSTKO blockchain-based security token for every 10 shares of common stock they held.

Some of that volatility admittedly remains. However, after Overstock announced in January that its blockchain-focused subsidiary Medici Ventures will be spun out on its own into a limited partnership fund, pending legal and regulatory approval, it appears less of the crypto-related hype will pervade the stock.

And with its core e-commerce engine doing pretty well right now, this could be the moment OSTK gets its groove back as one of the go-to retail stocks in a digital age.

In both the current fiscal year and the next one, revenue for Overstock.com is expected to grow at least 11%. And earnings per share are projected to almost double in fiscal 2021 before tacking on an additional 25% in growth in fiscal 2022. This gives some strong fundamentals to back up the recent narrative of success.

It's not uncommon to still see big swings in OSTK stock, but lately the moves have been higher. Thanks to a strong push after the company reported higher-than-expected third-quarter EPS at the end of October, shares are now trading at levels not seen since August 2020.

If the momentum keeps up, it could be off to the races for Overstock as we close out the year and enter 2022.

• Market value: $6.1 billion
• Dividend yield: N/A

Revolve Group (RVLV, $83.48) is an online fashion retailer known for its FWRD e-commerce portal as well as its namesake Revolve brand. It operates a global platform that brings in emerging and established third-party brands as well its own in-house clothing.

Surf the Revolve websites and it's clear right away the kind of consumer it is catering to – young, female and willing to spend big bucks. And one thing that has always proven durable in any economic environment is the enthusiasm of young, affluent women to spend freely on the latest fashions.

What's interesting about RVLV, however, is that it has forgone the typical brick-and-mortar approach of established luxury fashion stores and has scaled up quickly with its online-only approach. This has allowed for a host of benefits, including better margins and the potential to compete both on price and availability. Given its structure, Revolve can stock a much wider array of fashions from a diverse cast of designers to ensure it is always en vogue.

The success of this strategy shows up in the numbers, with revenue set to jump more than 50% this fiscal year and another 22% next year. Profits are also ticking steadily higher, set to rise 32% from 79 cents in earnings per share in fiscal 2020 to $1.04 per share this year. And for fiscal 2022, earnings are projected to rise another 15% to $1.23 per share, according to recent forecasts.

Fashion is fickle, but the agile and digital-friendly model of Revolve seems to be connecting big with consumers right now. And based on recent share performance, with RVLV stock up more than 300% in the last 12 months, Wall Street seems confident this is one of the best retail stocks to believe in this holiday season.

• Market value: $5.4 billion
• Dividend yield: 0.7%

Consumers will recognize many of the nameplates operating under the Signet Jewelers (SIG, $101.65) corporate parent, including Kay Jewelers, Jared, Zales and Piercing Pagoda to name a few.

The luxury goods sector is very much dependent on consumer spending trends, and this could portend good things for SIG given wealthy and COVID-weary shoppers are even more eager to spend than before. It also doesn't hurt that all those delayed weddings and engagements due social distancing has resulted in a nice tailwind for 2021 ring sales.

As prelude to what may be in store during the holiday season, Signet's quarterly earnings report in September topped expectations and sparked a 6% run in a single day after strong numbers and encouraging forward guidance. Specifically, that report was for the company's second-quarter of fiscal 2022 and featured news that sales more than doubled year-over-year and SIG raised its full-year same-store-sales guidance to 30% to 33% expansion compared with prior forecasts of 24% to 27% growth.

Certain consumer stocks are facing uncertainty right now because of supply-chain issues or pricing pressures, but the jewelry business is largely insulated from these trends. In fact, some consumers are drawn to gold, platinum and diamonds in inflationary environments because of the potential that these materials will actually be worth more in the long run. All of these trends add up to what looks like a strong chance of success for SIG in the weeks ahead.

• Market value: $8.7 billion
• Dividend yield: 0.8%

When people started spending more time at home because of the pandemic, one of the first things they did was evaluate the furniture they were spending more time around. And since most people spend a third or more of their life in bed, it's no surprise that Tempur Sealy International (TPX, $45.19) was one of the companies that benefited from this trend. The firm has a broad array of bedding and mattress brands including Sleep Outfitters, Tempur-Pedic, Sealy, Comfort Revolution and Stearns & Foster.

But in 2021, TPX is decidedly not a story about people laying in bed during the gloomy days of the pandemic. Case in point: In July, Tempur Sealy stock popped roughly 15% in a single session back in July thanks to a standout earnings report. Specifically, TPX said operating income jumped 318% over Q2 2020 and hiked its quarterly dividend 29% to ensure shareholders got their piece of that strong performance.

Temper Sealy's third-quarter numbers weren't quite as jaw-dropping, but featured a 20% year-over-year sales bump and a 39% increase in net income to show the stock is still going very strong.

Shares have risen almost 70% so far this year on a solid performance. And while there is certainly no shortage of mattress-by-mail competitors, this year-to-date return is plenty of proof that TPX is fending them off with its broad distribution network and doorstep delivery that allows folks to try its products without ever setting foot into a store.

With shares hitting new all-time highs after this recent run, investors have good reason to think that TPX stock will stay strong through the holiday season.

• Market value: $15.8 billion
• Dividend yield: 1.3%

Williams-Sonoma (WSM, $212.00) is the operator of a few dominant upscale houseware brands, including the Pottery Barn, West Elm and its Williams-Sonoma namesake among others. And thanks to the "nesting" trend prompted by the pandemic and the rise of semi-permanent telework, luxury furniture and kitchenware has been a tremendous segment to be in lately.

But the appeal of WSM goes beyond its niche or short-term trends. The retailer invested years ago in a multi-platform sales approach that included same-day online purchasing and in-store pickups well before COVID-19 prompted its competitors to play catch up.

Another big plus: Unlike cash-strapped competitors, WSM opted to pay brick-and-mortar staff across pandemic-related closures in 2020. This helped its loyal cashiers and warehouse staff remain on the payroll and be ready to ramp up operations this holiday season.

And it recently doubled down on investing in its rank and file by increasing its minimum wage to $15 an hour, too. That kind of compassionate corporate culture is increasingly in demand among managers and senior staff and will pay dividends for this company for years to come as it retains and attracts talent beyond those just stocking shelves this December.

The icing on the cake is that all this news and narrative is only the tip of the iceberg. The real heft of WSM stock comes in its numbers, with current fiscal year profits set to hit $13.60 per share – up 50% from the $9.04 per share it earned the year prior – with revenue set to spike 20%.

Share momentum is equally impressive, with new 52-week highs being set like clockwork and WSM sitting on a 117.3% gain for the year-to-date.

With a combination of strong management, impressive growth and a solid niche within retail, this is one of the best consumer stocks that could continue to knock it out of the park in the coming months.

Stocks enjoyed a busy but bountiful session for stocks Thursday, fueled by corporate earnings and, for one iconic company, a name change.

The day kicked off with a disappointing third-quarter GDP reading of 2.0% growth, which was well under expectations for 2.8%, and well below Q2's 6.7% expansion.

"This marks a meaningful deceleration in the ongoing economic recovery, with GDP growth falling to its slowest rate since the COVID-19 recession," says Michael Reynolds, Vice President of Investment Strategy at wealth management firm Glenmede. "However, this need not disrupt the longer-term recovery trajectory of the U.S. economy, as producers continue to shake the dust off of global supply chains."

Initial unemployment claims plumbed another pandemic-era low, however, reaching 281,000 for the week ended Oct. 23 – 10,000 filings under the prior week and 8,000 fewer than expected.

Wall Street offered up plenty to like on the earnings front, too.

Merck (MRK, +6.1%), which is awaiting FDA approval for its COVID-19 antiviral molnupiravir, delivered Q3 revenues and earnings that whizzed past analysts' estimates. The same was true at Caterpillar (CAT, +4.1%) where construction-machinery revenues jumped by 30% from the year-ago period.

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Ford (F, +8.7%) topped earnings expectations, raised its full-year guidance and thrilled income investors by restoring its quarterly payout at 10 cents per share, representing a 2.4% yield at current prices.

Also contributing to the day's gains were Amazon.com (AMZN, +1.6%) and Apple (AAPL, +2.5%), which ran up heading into their earnings reports, due out after Thursday's close.

The Nasdaq Composite advanced 1.4% to 15,448, surpassing its previous record close from early September, while the S&P 500 (+1.0% to 4,596) also notched a new all-time high. The Dow Jones Industrial Average (+0.7% to 35,730) finished in the green, too.

Other news in the stock market today:

• The small-cap Russell 2000 rebounded aggressively from yesterday's losses, jumping 2.0% to 2,297.
• U.S. crude oil futures rose 0.2% to finish at $82.81 per barrel.
• Gold futures gained 0.2% to settle at $1,802.60 an ounce.
• The CBOE Volatility Index (VIX) was off by 4.3% to 16.25.
• Bitcoin stemmed its recent losses with a 3.7% advance to $61,307.73. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
• eBay (EBAY) slumped 6.8% after the online marketplace reported earnings. While EBAY's adjusted earnings of 90 cents per share on $2.5 billion in revenue beat analysts' consensus estimates, gross merchandise value was down 10% from the year-ago period and the company forecast lower-than-expected revenue for the fourth quarter. Stifel analysts kept a Buy rating on EBAY, saying volume in focus categories continues to outperform. Additionally, "The company upped its 2021 share buyback by $2 billion with plans to repurchase $7 billion this year," the analysts wrote.
• Twilio (TWLO, -17.6%) was another post-earnings loser. The cloud communications platform reported adjusted third-quarter earnings of 1 cent per share on $740 million in revenue – more than analysts were anticipating. However, it also guided for a fourth-quarter loss between 23 cents per share and 26 cents per share – wider than the 7-cents-per-share loss analysts, on average, are calling for – and said George Hu is stepping down as chief operating officer. Argus Research analyst Jim Kelleher still thinks TWLO is a Buy. "Twilio, via its text, email and other platforms, provides businesses with an opportunity to directly engage with their customers," he says. "We see this as a competitive advantage, given that restrictions on digital privacy are only likely to increase."

Meet "Meta"

And as for the name change? Well … "Facebook" is no more.

Sort of.

While the social network will retain its moniker from back when CEO Mark Zuckerberg co-created it in college, the parent company's name will become "Meta Platforms, Inc.," or just "Meta" for short, to reflect the "metaverse" – effectively a blending of the physical and digital/virtual worlds.

A few more things will be changing, too, including how Meta reports its financials.

"Starting with our results for the fourth quarter of 2021, we plan to report on two operating segments: Family of Apps and Reality Labs," the company says. (Remember, Facebook – ahem, Meta – is more than the flagship platform: It also owns Instagram, global messaging giant WhatsApp and Oculus virtual-reality gear, though the latter will also be rebranded as Meta.)

And FB shares, which were up 1.5% in reaction, will trade as MVRS starting on Dec. 1.

While Meta is taking a deep, deep dive into this emerging technology, it's hardly the only company that's positioned to profit if and when the metaverse truly takes off. Here, we look at seven stocks that could harness the power of a metaverse market that some estimate could explode to $800 billion in roughly three years.

Stocks didn't take the most conventional path to gains Thursday, but they climbed the ladder nonetheless as the U.S. economy continued to flex its recovering muscles.

The Commerce Department revealed that U.S. GDP grew by a seasonally adjusted annual rate of 6.4% during the first quarter of 2021, exceeding Kiplinger's forecast for 5.5% though coming in a little shy of consensus estimates for 6.7%.

"The report points to ongoing recovery and keeps the U.S. economy on track to recover to its pre-pandemic level by Q2 '21," says Barclays economist Pooja Sriram.

"Personal consumption spending remained the main driver of growth, as we had anticipated," she says. "Private inventory investment subtracted from growth, reflecting a draw-down in stocks as consumption surged, while net exports also made a negative contribution amid stronger imports."

Adding fuel to the fire was a modest decline in weekly unemployment filings, to 553,000 from 570,000 the week prior.

Stocks spiked at the open Thursday, declined through midday, then recovered throughout the rest of the afternoon. Facebook (FB, +7.3%) helped power the S&P 500 (+0.7% to 4,211) to a fresh all-time high after announcing a 48% jump in Q1 revenues and a wide earnings beat. Apple (AAPL, -0.1%) reported a monster quarter, too, with sales up 54% and profits well ahead of analyst projections, but its advance was more muted thanks to a warning that the global chip shortage could dent current-quarter results.

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The Dow Jones Industrial Average (+0.7% to 34,060) finished with a solid gain, while the Nasdaq Composite (+0.2% to 14,082) closed modestly higher.

Other action in the stock market today:

• Automaker Ford (F, -9.6%) reported better-than-expected profit and revenue in its first quarter, but it warned the global chip shortage could drag on full-year earnings.
• Disappointing guidance weighed on eBay (EBAY, -10.0%), too, even as the company beat top- and bottom-line estimates for Q1.
• In non-earnings news, Uber Technologies (UBER, -6.0%) and Lyft (LYFT, -9.9%) sold off dramatically today. Weighing on the ridesharing names were comments made by U.S. Labor Secretary Marty Walsh, who told Reuters that "gig workers should be classified as employees."
• The small-cap Russell 2000 finished 0.4% in the red to 2,295.
• U.S. crude oil futures spiked 1.8% higher to settle at $65.01 per barrel after today's economic data supported signs of an improving U.S. economy.
• Gold futures fell 0.3% to finish at $1,768.30 per ounce.
• The CBOE Volatility Index (VIX) climbed 1.0% to 17,46.
• Bitcoin prices plunged 4.5% to $55,470. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)

Sell in May? We Say "Nay Nay."

You can feel it, right?

You know what we're talking about.

The icy fear of potential underperformance that slaps investors across the face each year?

We mean the tired ol' "Sell in May" adage, rehashed annually because of the historical tendency for May-October returns to underachieve compared to November-April.

Here at Kiplinger? We think most investors are better off hanging around for all 12 months. And we're in good company.

"I've never been a fan of this adage," says legendary investment strategist Ed Yardeni of Yardeni Research. "It doesn't always work, and even when it does, the investor is left with the problem of determining when to get back into the market."

Churning your portfolio can take its toll, whether in opportunity cost or emotional stress. Instead, entrench yourself in a few solid funds, and let the market's dogged progress over time do the work.

Whether you're looking to build the core of your portfolio or just add a few tactical positions, start your search with our recently updated "Kip" picks: Those who favor exchange-traded funds can consider our Kip ETF 20, while those who want humans at the helm might prefer the actively managed (but low-fee) mutual funds of the Kiplinger 25.

An improving economic backdrop and a few standout earnings reports helped send some of the major indices back into record territory Thursday.

Initial jobless claims for the week ending Jan. 30 came in at 779,000 – lower than expected, and 33,000 fewer than the prior week's claims, which were sharply revised downward to 812,000.

"Altogether, the signal from this week's claims data is one of modest further improvement following recent deterioration," write Barclays' Michael Gapen and Pooja Sriram. "Trends in initial claims in early 2021 point to some improvement in the rate of job separations in January, though this week's readings will be reflected in February employment conditions given the timing of the survey week for employment conditions (the week that includes the 12th of the month)."

Also noteworthy were factory orders, which improved by 1% month-over-month in December, exceeding expectations.

On the earnings front, PayPal Holdings (PYPL, +7.4%) took off after reporting Wednesday night that fourth-quarter profits tripled amid continued pandemic-driven adoption of digital payments.

"We continue to appreciate PYPL's growth and positioning for a post-Covid world, which is accelerating the secular trends of e-commerce and digitization of cash and payments," writes Chris Kuiper, analyst at CFRA, adding that "we are particularly interested in PYPL's foray into crypto assets, which we think could become a much bigger opportunity."

"However, shares continue to embed very high growth expectations, therefore we remain neutral."

Interestingly, eBay (EBAY, +5.3%), which PayPal split from in 2015, also had itself a day after robust holiday sales fueled a Q4 earnings beat. Those and other strong tech performances led the Nasdaq Composite (+1.2% to 13,777) and S&P 500 (+1.1% to 3,871) to new closing highs. The Dow Jones Industrial Average finished with a strong 1.1% gain to 31,055.

Other action in the stock market today:

• U.S. crude oil futures continued their ascent, finishing a full 1.0% higher to $56.23 per barrel.
• Gold futures tumbled 2.4%, settling at $1,791.20 per ounce.
• Bitcoin prices, at $37,068 on Wednesday, advanced 1.2% to $37,528. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)

Small Caps Keep Punching Above Their Weight

But the stars of Thursday's show – and 2021, for that matter – were small-cap stocks.

The Russell 2000 also clinched a new high, advancing 2.0% to 2,202, which puts the index up 11.5% for the year-to-date. A couple days ago, we pointed out that January was a tough one for the broader market, but Bank of America reminds investors that the Russell 2000 was the only segment that gained in January (+5.0%), and its analysts remain bullish for several reasons.

"Small cap profits should bounce back stronger than their decline, and guidance trends are strongest here of the three size segments," they say, also pointing to stimulus, sentiment and support for smaller businesses as other catalysts for further gains.

Investors can harness some of these effects in mid-cap stocks, which boast advantages such as more diversified revenue streams and better financial stability. But if you're willing to roll with the volatility punches the small-cap space can throw, these 11 smaller firms could fit the bill.

Because of their size, they don't get as much media attention, so they fly under a lot of investors' radar, but they boast the potential for an electrifying year ahead.

Kyle Woodley was long Bitcoin as of this writing.

Nearly 40 million Americans over age 50, about 60% of that cohort, say they have too much stuff, according to a survey by University of Kansas professor David J. Ekerdt.

“It’s quite stressful,” especially when you think about the possibility of moving, says Ekerdt, author of Downsizing: Confronting Our Possessions in Later Life (Columbia University Press, $26). “Almost every move in later life is going to be to smaller quarters.”

Fortunately, a whole cottage industry has sprung up online to help you shed possessions and make a tidy profit in the process, but forget eBay. That’s so 1990s. Today, most new selling sites work in connection with a smartphone app, and different apps are better for selling different things. For instance, Decluttr and Itsworthmore.com are great for selling electronics, whereas Mercari, ThredUp, Poshmark and The RealReal are better for clothes.

To find the app that’s best for you, check out the products and brands people are selling on the site. If the item you want to sell or something very similar is featured, you’ve probably found the right market. Be sure to understand the shipping fees, return policies and the cut the app takes from your sale. Try out the app to see how easy it is to use and list items for sale. Some sites do more of the work for you and others less.

“It’s a question of time versus money,” says Michelle Madhok, online shopping expert and CEO of SheFinds.com, a website that spots deals and fashion trends. When it comes to selling items, “are you going to style them, photograph them, measure them? If you do that, you’ll get the most amount of money.”

But if you’re the type who prefers having someone else market your items for sale, Decluttr, ThredUp, Poshmark and The RealReal take on the hard work of presenting and selling your gently used belongings. All you have to do is ship off the merchandise in a prepaid box.

Before giving an app your business, look for a customer service number or chat feature, so you know what kind of support to expect if something goes wrong. For any site, make sure you understand the policies for payment and returns. Stacy Kahn, a 50-year-old educational consultant in Potomac, Md., once had a buyer return a Supreme sweater five months after the sale — with a newly created hole. Despite Kahn sending photos of the damage, she had to refund the sale.

“They’re not in it for the sellers,” Kahn says of the app-based selling sites. “They’re always going to side with the buyer.”

If your garage and closets are bulging with a lifetime of accumulated stuff, here’s a rundown of the most popular apps, all of which are free, and what you should know before giving them a whirl, including how payment works. Some include their cut of the sale in the price quote for your items while others charge a separate commission.

Decluttr App (Android and iPhone)

Talk about simple. Just search Decluttr for the model and make of the electronics you want to unload. (The app sells a range of devices, including smartphones, tablets, game consoles, and wearables, as well as accessories like video games, DVDs and CDs.) There’s no need to take and upload pictures, navigate an auction or wait for a buyer. That’s why people call Decluttr the lazy man’s eBay.

You’ll get a price quote that’s good for four weeks and a shipping label for mailing the item (or a slew of items together) to Decluttr. As soon as the company verifies your item is in the condition you stated, you get paid. Payment options include PayPal, direct deposit or a donation to charity.

When selling electronics, wipe all personal data by doing a hard reset to factory settings, and disconnect mobile phones from your wireless plan, also known as unlocking the phone. Unlike some competitors, Decluttr doesn’t promise to wipe your devices, but the company does explain how to do it yourself, and there’s a user help center if you need customer support.

Itsworthmore.com (Online Only)

One website that does promise to wipe your electronic devices of all personal information before selling them to a buyer is Itsworthmore.com. A few clicks on their website gets you a quote for selling your device. Payable by check, PayPal™, Zelle®, Digital Payment or a gift card. You'll be asked to indicate your preference when you check out. A customer service phone number and email form are available on the website in case you need to contact the company after shipping your device to them.

“Electronics are the easiest thing to sell” because they’re standard, says Madhok. “I just sold an old Apple TV device.”

A good rule of thumb for selling old electronics is that the higher the item’s original purchase price, the better you’ll likely do in the resale market. That means iPhones, iPads, MacBooks, Beats and Bose brands will have you seeing green.

ThredUp App (Android and iPhone)

The consignment clothing market has exploded online during the economic recession as people clean out their closets to generate extra cash, but not all apps for selling clothes are alike. Some, like ThredUp, favor specific brands and types of clothing, so browse sites to see where your wardrobe will find the warmest reception. ThredUp users love activewear like Lululemon and The North Face as well as established brands like Anthropologie and J. Crew. It’s also a great place to sell a huge volume of gently used children’s clothes, Madhok says.

Here’s how it works. ThredUp sends you a prepaid shipping bag that you fill with high-quality clothes. That means no signs of wear, damage or alterations, and no missing size labels. Send the clothes via U.S. Postal Service or FedEx, and after receiving your shipping bag, ThredUp tells you which items it wants and how much you’ll be paid. Your payment choices are via Stripe or PayPal, or a credit to shop on ThredUp or a range of partnering websites.

The downside: You may not get much for your clothes. “They’ve gotten very picky,” Madhok says. “You throw everything in a bag and ship it to them, but you end up getting $5.”

You also have to pay to have the rejected clothes returned to you or ask to have them donated. Because the company does not send receipts, you won’t be able to deduct the donations.

The RealReal App (Android and iPhone)

For designer clothes and accessories, Madhok swears by The RealReal.

“I’m getting rid of all my 'Sex in the City' shoes. They don’t really fit with my COVID life,” she says. “The RealReal will sell those, and you’ll get 60%. It’s giving up cash for convenience.”

The site’s most popular brands are Chanel, Celine, Hermes, Cartier, Louis Vuitton, Rolex, Gucci and Prada. The company will authenticate the item and set a price. Once it sells, you can receive a direct deposit, mailed check or credit for purchases.

Mercari App (Android and iPhone)

Unlike the previous apps that sell your items for you, Mercari connects buyers and sellers for a range of goods featured on the site: clothing, electronics, toys, home goods and beauty products. That means more of a cut for you, but more work and potentially a risk of fraud.

“Check people’s rankings to make sure they have a history of buying things online,” Madhok says. “I wouldn’t send anything abroad.”

To list an item, upload photos and a description of the product. Once someone purchases it, you must ship within three days. You must rate the buyer to create a track record for other sellers. After a 10% cut, Mercari pays you instantly in your account (which can be used to shop on the site) or by direct deposit to your bank. Buyers will pay a flat 3.6% Buyer Protection fee starting January 6, 2025.

Poshmark App (Android and iPhone)

This app’s hallmark is social selling. You can comment on and share listings. Poshmark parties are a powerful vehicle for selling clothes of a certain brand—and the parties signal which brands are most in demand. Uploading photos is easy, and many people enjoy perfecting the visual display. A flat shipping cost for buyers keeps things simple.

On the downside, Poshmark charges a 20% commission on sales over $15 and takes a $2.95 cut of smaller sales. That compares to 10% on Mercari and between 2% and 10% on eBay. Customer service is email only, and the harder you work to promote your products, the more sales you’ll secure.

Leah Ingram, 54, a writer in Slippery Rock, Pa., likes the ease of Poshmark. “It’s list it and pretty much forget it,” says Ingram, who’s been using the app for three years. “Plus, I have the backing of the app should anything go wrong with a sale.”

Clothes that are new with tags fetch the best prices. Ingram even buys merchandise at thrift stores and then sells her purchases on Poshmark. She calls it “retail arbitrage.”

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To say that 2020 has been full of surprises would be the understatement of the year.

Companies that might have seemed safe prior to the pandemic, such as conservative real estate investment trusts (REITs), were suddenly found to be risky when their tenants could no longer pay the rent. And flashy tech stocks – which in a more normal world might have seemed risky – suddenly found themselves selling mission-critical services.

Yet as upside down as the world is right now, some things really haven't changed, and that includes the appreciation investors have for reliable dividend stocks. The consistent payment of a dividend was, is, and likely always will be a sign of quality. Thus, new dividend stocks have, in a sense, finally made it.

"Few things better mark a quality company than the payment of a dividend," says John Del Vecchio, forensic accountant and co-manager of the AdvisorShares Ranger Equity Bear ETF (HDGE). "Earnings and even sales can be manipulated by an unscrupulous management team. But in order to pay the dividend, they have to have actual cash in the bank."

"Initiating a new dividend is often a sign that a company has matured into a stable and more durable business and one that's a lot less likely to disappoint," Del Vecchio added.

The data seems to support this. A study by Ned Davis Research found that the S&P 500 returned 7.70% per year between 1972 and 2017. But a portfolio consisting of only the dividend-paying stocks in the S&P 500 returned 9.25% per year over the same period, soundly beating the index. Non-payers generated paltry returns of just 2.61%.

Yes, the COVID-19 pandemic has been particularly hard on dividend payers and has forced many to slash their payouts or eliminate them altogether. But at the same time, plenty of companies are surviving and thriving in this environment enough to initiate a dividend or continue a recently initiated dividend.

Today, we're going to look at 20 new dividend stocks. While every pick isn't necessarily a recommendation – this is merely a list of recent dividend initiators – you can certainly use it as a starting point for further research.

Data is as of July 23. Dividend yields are calculated by annualizing the most recent payout and dividing by the share price.

• Market value: $3.6 billion
• Dividend yield: 1.1%
• First regular dividend: 2020

First up is Rexnord (RXN, $30.27). This company might have only initiated its dividend this year, but it has a long history in the American Midwest dating back to 1891. Originally started as a maker of industrial chain belts, RXN today manufactures advanced process and motion control and water management products.

Through its process and motion controls businesses, Rexnord is a manufacturing company that builds the machinery other manufacturing companies need to produce their own wares. And its water management products focus on water safety and drainage control. It's a unique and highly specialized collection of businesses.

With most of the world still in recession, Rexnord might have a few lean quarters in front of it. But if the larger trend of manufacturing returning from China to the U.S. continues to build steam, Rexnord should have a very bright future.

RXN joined this list of new dividend stocks this year with an 8-cent-per-share payout in March. It currently yields just more than 1%.

• Market value: $156.2 million
• Dividend yield: 1.5%
• First regular dividend: 2020

Provident Bancorp (PVBC, $8.02) is the parent company of Provident Bank, a small bank based in Amesbury, Massachusetts. Provident is small, with only eight offices in Massachusetts and New Hampshire. Yet the firm is the 10th-oldest financial institution in America and has a history dating back to 1828.

Despite the bank's pedigree, it has a short history as a public company. Its privately held holding company brought the bank public in 2015.

Provident's history as a dividend payer is even shorter. The bank paid its first dividend in May of this year and also initiated a stock repurchase plan.

Initiating a dividend at a time when much of the economy was shut down and many small businesses were having a hard time paying their loans was a bold move. And to be fair, the bank made the announcement on March 12, before the extent of the coronavirus disruptions was fully understood.

We probably shouldn't expect much in the way of dividend hikes over the next several quarters, and the share buybacks are likely on ice for a while, or at least until the economy is a little healthier. But PVBC seems to be sticking with the program, and has announced a dividend to be paid Aug. 13. Shares are down 36% year-to-date; value investors might want to give this one a deeper look.

• Market value: $156.2 million
• Dividend yield: 1.5%
• First regular dividend: 2020

HBT Financial (HBT, $8.02) is a bank holding company with controlling interests in Heartland Bank and Trust Company and the State Bank of Lincoln. The century-old bank, founded in 1920, is based in Bloomington, Illinois. HBT's subsidiaries have 64 locations scattered across Illinois and provide the basic services you'd expect from a community bank.

Yet despite its long history, HBT is brand-spanking new as a public company. The company executed its initial public offering (IPO) in December 2019. And the bank wasted little time in starting up payouts, initiating a cash distribution early in 2020 to join this list of new dividend stocks.

As with banks in general (and smaller banks in particular), HBT really got beaten up in the COVID-19 bear market. And it has really yet to recover. Shares are down about 35% year-to-date and yield 7.4%.

While there is a lot of uncertainty right now in the banking word due to the pandemic and the potentially slow recovery in consumer spending, the financial system has thus far remained strong and is well supported by the Federal Reserve. If you're a patient value investor, this sector definitely is worth a deeper dive.

• Market value: $33.3 billion
• Dividend yield: 0.6%
• First regular dividend: 2019

Next up is cellular tower REIT SBA Communications (SBAC, $298.68), which paid out its first dividend in September 2019.

SBA is a leading independent owner and operator of wireless communications infrastructure including towers, distributed antenna systems and small cells. It's active in 14 countries, with the largest being the United States, Brazil and Canada.

SBA was founded in 1989 but converted to the REIT structure in 2017. This is important and means that, while modest today, SBA's dividend should continue to grow for years to come. To legally avoid federal income tax, REITs are required by law to distribute at least 90% of their profits.

Furthermore, while many REITs are facing unprecedented challenges because of forced closures and decreased foot traffic, life has never been better for cell tower landlords. That shouldn't change anytime soon.

SBA initiated its dividend last August and has already hiked it once. Expect more of the same going forward.

• Market value: $307.6 million
• Dividend yield: 2.9%
• First regular dividend: 2020

The quarantine-related lockdowns hit working-class Americans a lot harder than white-collar professionals. While many office employees can continue to do their jobs from home, blue-collar and service workers generally can't.

This has created both opportunities and risk for non-traditional financial companies like CURO Group Holdings (CURO, $7.54).

CURO is non-bank lender serving what it calls "underbanked" consumers in the United States, Canada and United Kingdom. Its services include short-term loans, check cashing, prepaid debit cards and pawn-based lending.

Naturally, CURO's customers tend to be people with low credit. If you're a high-income earner with a country club membership, you're not likely to need a payday loan. It remains to be seen exactly how strapped for cash CURO's clients will be once the temporary unemployment benefits stemming from virus relief start to get phased out. But at the same time, it's possible that record numbers of people will need CURO's services as we continue to see economic fallout.

In any event, CURO's shares are down by more than half from their 52-week highs and yield 2.9% on a dividend that the company began paying in March of this year.

But just because CURO has joined the ranks of 2020's new dividend stocks doesn't necessarily make it a buy right away. At least two shareholder-rights firms are investigating the company over allegations that CURO misled investors about the negative effect of business changes in 2018, so you'll want to wait for the smoke to clear.

• Market value: $1.7 billion
• Dividend yield: 1.6%
• First regular dividend: 2019

Oil and gas has been a graveyard for investor capital in recent years, and income investors in particular have been particularly beaten up. Many energy firms have been forced to suspend or cut dividends this year as the industry grapples with structural oversupply and a dearth or demand due to virus quarantines and reduced travel.

And it's not just exploration and production companies suffering. Oilfield services companies and suppliers have also really struggled this year.

But one energy-related company is bucking the trend of dividend cuts. Cactus (WHD, $22.40) actually initiated its first dividend late last year, with a December payment.

Cactus designs and manufactures wellheads and pressure control equipment primarily to "nonconventional" onshore developers. In other words, Cactus sells its wares to frackers.

Needless to say, fracking isn't the best business to be in these days, which is why Cactus' share price is down by 35%. The company has already announced layoffs and salary reductions, lowering its headcount by about 30%.

If there's any good news, it's that the stock has been on a steady upswing since March. And WHD has managed to keep its dividend intact so far, including its 90-cent distribution delivered on June 18.

Be careful investing in this new dividend stock given the terrible macro environment for its customers. And if you do buy Cactus, you should be prepared for the possibility of a dividend cut. But at current prices, it is at least worth exploring as a value play.

• Market value: $1.3 billion
• Dividend yield: 1.1%
• First regular dividend: 2019

Financial stocks are well represented on this list of new dividend payers, which brings us to Victory Capital Holdings (VCTR, $19.07).

Victory manages about $127.7 billion in client assets. It also manages and distributes a suite of mutual funds as well as the VictoryShares family of ETFs.

Just a few months ago, this business would have seemed precarious. But with the major indices just a hair's breadth away from new all-time highs, life is looking pretty good for traditional asset managers whose revenues stem from the size of money under management. All else equal, a market move that sends stocks 20% higher equates to roughly 20% higher revenues.

This bull run that has been in place since late March might prove to be ephemeral. We frankly have no way to know if or when the next correction will strike. But until it does, traditional money managers like VCTR should enjoy this epic run.

Victory initiated its dividend last year, with its first payout in September 2019, and the shares currently yield 1.1%.

• Market value: $3.5 billion
• Dividend yield: 1.1%
• First regular dividend: 2018

Mortgage REITs got hammered during the March bear market, and many suffered permanent damage to their portfolios. With millions of Americans forced to seek forbearance protection, many mortgage note holders were left holding the bag.

But for mortgage servicers, it was mostly business as usual. And that brings us to our next recent dividend initiator, PennyMac Financial Services (PFSI, $44.38).

PennyMac is the third-largest mortgage producer in the U.S. and the sixth-largest mortgage servicer. But while it writes and services a ton of mortgages, it doesn't actually carry them of its books. Substantially all of its mortgages are sold to Fannie Mae, Freddie Mac or Ginnie Mae.

Apart from its mortgage origination and servicing businesses, PennyMac is also the manager of the PennyMac Mortgage Investment Trust (PMT), a mortgage REIT.

PennyMac's shares stumbled in March, but the stock has recovered and then some, gaining 30% year-to-date to new all-time highs. PFSI's stock price has doubled over the past two years, and this new dividend stock is showing no sign of slowing down.

• Market value: $213.0 million
• Dividend yield: 1.4%
• First regular dividend: 2019

SmartFinancial (SMBK, $14.00) might sound like a cutting-edge fintech company, but it's actually a sleepy little regional bank. SmartFinancial is the bank holding company for SmartBank, which has 29 branch locations scattered across Tennessee, Alabama, Florida and Georgia.

As with many small-town community banks, SmartFinancial has been active in the mergers-and-acquisitions game, acquiring Foothills Bank and Southern Community Bank in 2018.

SmartFinancial reinitiated its dividend in 2019 after taking a 10-year hiatus. The bank eliminated its dividend following the financial crisis and only restarted it last year.

Like most banks, SmartFinancial got hit hard in the March selloff and is still down nearly 40% from its 52-week highs. Low interest rates and the potential for loan defaults will be ongoing risks for this sector, but that would seem to be more than accounted for at today's prices.

• Market value: $502.0 million
• Dividend yield: 0.9%
• First regular dividend: 2019

Let's add one final bank holding company to the list in Byline Bancorp (BY, $13.08). BY is the holding company for Byline Bank, a community bank with a history going back a century. Byline is a regional bank for the upper Midwest and has more than 50 branches throughout the Chicago and Milwaukee metro areas.

Like most of the other bank holding companies on this list, Byline is a small-cap stock with a market cap of under $500 million. And 2020 has been a tough one for smaller banks. Here's a familiar refrain: BY shares still are down a third from their 52-week high.

Low interest rates erode bank profit margins, so the earnings outlook doesn't look great in the immediate future. But again, buying a healthy bank at a 33% discount to its recent highs would seem like a decent long-term bet. At current prices, Byline yields a little less than 1%.

• Market value: $6.0 billion
• Dividend yield: 2.0%
• First regular dividend: 2018

Smaller community banks have been major dividend initiators over the past few years, and most have managed to stay financially sound and healthy throughout the COVID-19 downturn. Let's add one more community bank to our list of recent dividend payers.

Signature Bank (SBNY, $111.58) is a regional bank with 32 private client offices mostly scattered around New York City. The bank also has offices in San Francisco, California, and Charlotte, North Carolina.

In the world of financial services, bigger is generally perceived as better. Yet Signature Bank has managed to carve out a profitable niche, targeting a smaller but wealthier clientele of business owners and senior managers.

Signature Bank has been in business since 2001 and publicly traded since 2004. SBNY joined this list of new dividend stocks in August 2018 when it paid out 56 cents per share, and it has maintained that payout ever since. At current prices, the dividend works out to a yield of 2%.

SBNY hasn't raised its dividend since initiating it two years ago, but future hikes are a very real possibility, given that the bank pays a conservative 22% of its profits as dividends.

• Market value: $21.5 billion
• Dividend yield: 1.8%
• First regular dividend: 2019

Corteva (CTVA, $28.67) is the child of divorce. In a whirlwind romance, Dow Chemical and DuPont de Nemours briefly merged to become a powerhouse chemical producer in 2017. Alas, there wasn't much of a honeymoon. Just two years later, the company split into three new companies: commodity chemical maker Dow (DOW), specialty chemical maker DuPont (DD) and agricultural supplier Corteva.

If that was hard to follow, don't feel bad. It's questionable how much sense it made to make the world's largest chemical company only to immediately dismantle it. But at least in Corteva, we have a focused play on agricultural technology.

Corteva has two segments: Seed and Crop Protection. Its Seed segment does exactly what its name suggests, boosting farm productivity by making seeds with protection against weeds, pests and disease. The company's Crop Protection segment manufactures herbicides, pesticides and other farming products.

It's not a scintillating business. But it's critical to feeding a growing global population.

Corteva paid shareholders a dividend for the first time on Sept. 13, 2019; at current prices, it yields 1.89%.

• Market value: $486.8 million
• Dividend yield: 0.9%
• First regular dividend: 2020

Cowen (COWN, $17.58) might not have the name recognition of a Goldman Sachs (GS) or a Morgan Stanley (MS), but it's in the same line of work. The company provides investment banking, research, sales and trading, prime brokerage and other services.

Founded in 1918 and based in New York, the company keeps a relatively low profile, at least by Wall Street standards.

The stock has been a wild ride, though. While COWN shares are close to three-year highs currently, they had lost two-thirds of their value in the depths of March – the same month it paid out its first dividend of 4 cents per share.

Taking a longer-term view, Cowen has been through a rough decade. At current prices, the stock has appreciated just 1%, in fairly volatile fashion.

It remains to be seen what the outlook for investment banks will look like as the world continues to reopen. While IPOs might be on ice for a while, we could see a surge in mergers and in debt offerings.

In any event, Cowen's shares have been surging higher since the March lows and don't appear to be losing their momentum. So, Mr. Market clearly believes the post-COVID world offers potential.

• Market value: $38.8 billion
• Dividend yield: 1.2%
• First regular dividend: 2019

Online auction and payments pioneer eBay (EBAY, $55.15) joined the ranks of new dividend stocks in early 2019 and has raised its payout in 2020, from 14 cents per share to 16 cents. More distribution growth is likely. At its current level, eBay is paying out only 27% of its profits in dividends.

At the current stock price, the dividend works out to a modest yield of 1.2%. That might not sound like much, but remember that most technology firms don't pay a dividend at all.

It might feel like eBay has been something of an also-ran in the e-commerce world it helped to create. Amazon.com and nimbler mobile apps capture most of the headlines, and its spun-off PayPal (PYPL) has made fintech headlines for years. But while eBay flies mostly under the radar, it's no slouch on the growth front. Revenues per share have nearly doubled since 2013, and the stock is up 53% in 2020.

As an older internet play, eBay may not be as exciting as the latest social media darling. But it has managed to survive for over two decades in the cutthroat world of e-commerce and has proven itself to be durable and shareholder-friendly.

• Market value: $3.9 billion
• Dividend yield: 2.2%
• First regular dividend: 2016

Valvoline (VVV, $21.07) is about as far from a trendy tech stock as you can get. It is one of America's oldest companies, with a history going back to 1866. And while we associate the brand with motor oil, Valvoline actually predates the invention of the automobile. In fact, its lubricant products helped to get the Industrial Revolution off the ground.

Yet despite its long history, Valvoline is a baby as a public company. It was spun off from Ashland (ASH) in 2016.

Valvoline paid its first dividend of 4.9 cents at the end of 2016, and it's already has juiced its dividend by 131% to a current 11.3 cents per share. Importantly, there's room for more; the company's dividend payout ratio is only 36%.

Valvoline might find waning demand for its lubricants and services due to the rise of electric vehicles over the next few decades. Electric vehicles have fewer moving parts and don't generally require regular oil changes. But even if a large percentage of new-car sales were electric vehicles starting today, the existing base of traditional gasoline-powered engines would be enough to keep VVV alive and kicking for a long time to come.

You shouldn't expect massive growth from an old-economy stock like Valvoline. But it should be a reliable dividend payer for the foreseeable future.

• Market value: $34.5 billion
• Dividend yield: 1.7%
• First regular dividend: 2015

Constellation Brands (STZ, $179.00) is the world's largest publicly traded wine producer. But beyond wine, the company is also a major beer producer. It markets under the Corona, Modelo and Pacifico Mexican brand names and has a large portfolio of craft beer brands, including Funky Buddha, Obregon Brewery and Ballast Point. Constellation also produces and sells an assortment of vodka, whiskey and tequila and other spirit brands.

Having the word "corona" in one of your most iconic products is an unfortunate coincidence in the age of COVID-19. But it hasn't seemed to slow down the company much, as the shares are essentially flat on the year.

STZ has been traded publicly since 1992 but only began paying a dividend in 2015. Since then, it has made up for lost time. Constellation has hiked its dividend by a cumulative 142%. Understandably, it hasn't topped up the payout yet in 2020.

• Market value: $48.2 billion
• Dividend yield: 0.8%
• First regular dividend: 2015

After months of virus lockdowns, the economy is looking rickety right now. And even as the economy continues to reopen, it might be years before we fully return to something resembling "normal," At this stage of the cycle, it's not a bad idea to look for recession-resistant companies that do well during hard times.

The COVID-19 experience has been disastrous for most brick-and-mortar retailers. But it has been smooth sailing for essential businesses like grocery and sundry stores. And with the economy likely to be slow for a while, consumers likely will trade down to cheaper alternatives such as dollar stores.

This brings us to Dollar General (DG, $191.65). Many working-class families depend on dollar stores for affordable packaged and processed foods, cleaning supplies, personal-care products, and basic groceries such as milk, eggs and bread.

Dollar General was founded in 1939 but only began paying a dividend in 2015. At current prices, it yields a little under 1%. There is a lot of competition in this space from other dollar stores and from large discounters such as Walmart (WMT). But if you believe that the economy might be depressed for a while, then Dollar General is worth considering.

• Market value: $7.4 billion
• Dividend yield: 0.4%
• First regular dividend: 2017

When you think of dividend payers, tech hardware companies generally aren't the first thing to come to mind. The cyclical nature of their business pushes them to hoard cash, and as a general rule, dividend investors have found the pickings slim in this space.

That's what makes Universal Display (OLED, $156.70) an unusual addition to this list of new dividend stocks.

Universal Display gets its distinctive trading symbol "OLED" from the products it makes: organic light-emitting diode (OLED) technologies used in flat-panel displays and lighting applications.

Universal Display has been publicly traded since 1996, but it didn't pay its first dividend until 2017. But it has been a dividend-raising monster ever since. The company made its first 3-cent-per-share payout in March 2017 and quickly doubled it in 2018. In 2019, it hiked its dividend by 67%, then by another 50% earlier this year.

Even with all that fuel behind the payout, OLED isn't exactly a high yielder. But if Universal Display continues to boost its dividend in such aggressive fashion, the yield will at least be respectable in the near-future. With a payout ratio of just 15%, more dividend growth is likely.

• Market value: $2.6 billion
• Dividend yield: 1.7%
• First regular dividend: 2019

You might not be familiar with SLM (SLM, $6.90), but you probably know it by its nickname: Sallie Mae.

SLM makes student loans. And contrary to popular belief, Sallie Mae is actually a private company. It isn't backed by Uncle Sam, though it used to be. The company was created as a government-sponsored enterprise in 1972 but transitioned to a private lender between 1997 and 2004.

Sallie Mae has become controversial. To its supporters, it has made higher education a reality for millions of Americans who would have never been able to afford it otherwise. To its detractors, the company has reduced an entire generation to debt slavery.

Sallie Mae suspended it in 2007 during the financial crisis. It then reinstated a dividend in 2011 only to kill it again three years later. SLM restarted its dividend yet again in March of last year, and it recently continued its streak of consecutive payouts with a dividend to be distributed Sept. 15.

Let's hope the third time is the charm.

Be careful with SLM stock. It has a history of dividend cuts, and its product is a political lightning rod. But shares also trade for a very modest 4 times earnings, so a good deal of risk would seem to already be priced in.

• Market value: $65.2 billion
• Dividend yield: 1.4%
• First regular dividend: 2015

We'll finish this list with data center operator Equinix (EQIX, $736.69).

REITs haven't fared well during the COVID crisis, as landlords have had to deal with financially strapped tenants. Data center REITs are a major exception, however.

Just as fossil fuels were critical in getting the Industrial Revolution off the ground, data is what drives the new economy. And not just social media or cloud operators. Large enterprises, banks and governments are using more and more data every day, and data center operators such as Equinix are a way to play this trend.

Equinix has a sprawling empire of more than 200 data centers spread across 24 countries. Suffice it to say that Equinix is an important part of the infrastructure connecting the world.

EQIX paid out its first regular quarterly dividend of $1.69 in March 2015. The company has since grown the dividend 57% to $2.66.

This is not the highest-yielding REIT, of course, at just 1.5%. But it's a healthy company selling a critical service to the new economy.

Question: I have collected nearly 8,000 baseball cards and now want to sell them. How do I find buyers?

Answer: You have a few options for locating buyers for your collection of baseball cards. You can auction them yourself on eBay, sell them to a local card shop or dealer, or go to an auction house and have it sell the cards as one big lot. But before you start selling, it’s best to take stock of what you have to see which cards are more valuable than others.

As a rule of thumb, cards are separated into three categories based on the date they were printed: Pre-war, Vintage and Modern era. Pre-war cards, typically printed before the 1950s, tend to fetch a higher premium than cards printed in the 1980s or 1990s. Cards printed in later years are less valuable because they’re more likely to be mass-produced.

The condition of the card is also a major factor in the price it can command. Frayed or damaged cards will fetch less than those in mint or good shape. There are three big players that grade the condition of baseball cards: Professional Sports Authenticator (PSA), SGC Card and Beckett Grading Services. Each service grades cards on a scale of 1 to 10, with 10 being pristine condition.

For example, a 1952 Topps Mickey Mantle rookie card graded as in mint condition by PSA sold last year for $2.88 million. And a 1955 Topps Roberto Clemente rookie card in mint condition fetched $264,000 last year.

Recently, vintage cards from any sport have garnered world-record prices, with high-grade rookie Hall of Famer cards leading the pack, according to Michael Osacky, president of Baseball in the Attic, an educational website for sports memorabilia. “Cards are now being seen as an asset class, and there’s new money coming to market,” he says.

Osacky adds that not every card is worth grading, so it’s best to do some digging or talk to an expert. For example, a grading could cost $10 to $15 for a card that may be worth only $25.

For a collection as large as yours, Osacky says that eBay takes a lot of work if you’ve never sold on the site before. You must photograph each card, write a description, set up a PayPal account to receive payment, and more. Plus eBay charges 10% of the total sale amount for listings. (An auction house will take a percentage of the sale, too, but using one may be less of a hassle.)

You can, of course, shop your cards around to local card dealers to see what you can get. But if you do have a rare gem—say, a Mickey Mantle rookie card in flawless condition—you’re likely best off selling it through an auction house, which can attract more potential buyers with deep pockets to bid up the price.

One of the greatest obstacles to share price appreciation is mediocre management, supported by a complacent board. But activist investors offer a solution, targeting poorly managed companies and lobbying them for changes they think will sweeten the share price.

Activist investors look for issues such as weak corporate governance or executive compensation schemes when hunting new stocks to buy. They often then take a significant stake in the company and push for things such as asset sales or the return of excess cash to shareholders. Companies slow to implement change may be threatened with “proxy fights” that result in corporate officers and directors being forced from their seats.

These activist investors sometimes create big windfalls for shareholders. For instance, Carl Icahn pushed eBay (EBAY) to spin off its PayPal (PYPL) business in 2015; since then, PayPal has tripled in value. Activist David Einhorn pressured Apple (AAPL) in 2013, urging the iPhone maker to return excess cash to shareholders. Since fiscal 2012, Apple has returned more than $350 billion in the form of buybacks and dividends, with the vast majority of that coming since 2013.

Here are 17 stocks to buy if you believe in the ideas of their activist investors. Some have just recently come under siege, others are in the middle of proxy fights, and still others have already made truces and have implemented changes to unlock value. But all of these stocks carry significant risk – after all, activist investors typically target struggling companies, and no turnaround is a slam dunk. So invest in small amounts, with funds from the portion of your portfolio dedicated to aggressive holdings.

Data is as of May 1.

• Market value: $1.4 billion

Cosmetics maker Avon Products (AVP, $3.15) dodged a 2018 proxy fight – a fight to convince shareholders to vote for changes, sometimes including the installation of new leaders – with Barington Capital by agreeing to put the investment firm’s top executive on its board. Barington, which still has almost 9% of its portfolio invested in AVP shares, already had successfully pressured Avon to replace its CEO and has been lobbying for the sale of the company.

Avon appears to be inching toward that goal.

Shares rallied in March after a Wall Street Journal report claimed Avon was considering a buyout offer from Brazilian rival Natura Cosmeticos SA. Like Avon. Natura sells its cosmetics through a direct sales force. Natura is reportedly interested in acquiring Avon’s privately held North American business and the publicly traded business that operates internationally. Natura Cosmeticos confirmed in a late April statement that it was indeed in talks, and Reuters reported that one person familiar with the talks said they were in advanced stages.

If so, that will be a nice bump for shareholders. If not, the company’s operations are a mixed bag.

On one hand, Avon suffered its worst trading day in almost two years in February after its fourth-quarter results disappointed. Analysts cited challenges in modernizing Avon’s direct-sales model and the loss of many direct-sales reps. The company also has been criticized for failing to develop a successful online strategy.

But Avon has launched a new content tool to support e-commerce growth, and it’s also working on streamlining its business. In September 2018, it announced it would cut about 100 positions and sell one of its New York facilities as part of a broader streamlining effort. AVP also has divested a manufacturing facility in China.

• Market value: $2.2 billion

Three activist funds are threatening a proxy attack on home goods retailer Bed Bath & Beyond (BBBY, $16.30) to force the ouster of the company’s entire 12-member board. They claim that Bed Bath & Beyond has been too slow to adapt to changing consumer tastes, resulting in eight straight quarters of declining same-store sales, and has allowed cost increases to steadily erode margins.

Bed Bath recently said that five of its directors will step down. Ancora Advisors, Legion Partners and Macellum Capital Management recently wrote more than 150 pages explaining why shareholders should vote in their set of nominees for the newly opened seats. The outsiders want Bed Bath & Beyond to focus on its core business and consider shedding non-core brands like Buy Buy Baby and Cost Plus World Market. All of their initiatives should produce more than $5 in earnings per share within three to five years, the activist investors say.

The company’s shares hit 20-year lows during the fourth-quarter market selloff last year, though that was also prompted by a miserable report in September that included flat revenues, declining same-store sales and a profit miss. Standard & Poor’s downgraded the retailer’s credit rating to junk status. Analysts piled on with bearish opinions.

Bed Bath & Beyond has rebounded by 40% in 2019, however, with much of that coming on activist investor interest. But a January announcement that the company was ahead of schedule in implementing a profit improvement plan also put a jolt into shares.

Raymond James analyst Bobby Griffin in March upgraded his rating on the stock to “Strong Buy” and commented that, while his analysis is based on a takeout scenario, many of the factors that make Bed Bath & Beyond an attractive takeover candidate also hold true for the activist case. Morgan Stanley analyst Simeon Gutman reiterated an “Underperform” rating on the stock but believes the recent activist efforts have set a floor for the share price.

• Market value: $1.8 billion

Barington Capital also is involved with restaurant chain operator Bloomin’ Brands (BLMN, $19.68), whose brands include Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse and Wine Bar. The company owns or operates approximately 1,500 restaurants across 48 states.

Barington wrote more than a year ago that it wants changes at Bloomin’, among them selling or spinning off some of its chains, as well as improvements to “enhance the guest experience.”

Barington followed up in October, pushing the company to hire an independent chair. In March, Bloomin’ said it was promoting its CFO to CEO and moving its former chief into the board’s executive chair slot – but said it was a planned move unrelated to Barington’s saber-rattling.

BLMN shares did surge in February after the company topped revenue and profit estimates while improving their same-store sales, but the stock still is underperforming the market, up almost 11% to the market’s 16%.

And during its March Analyst Day, the company shared financial performance targets that include 1.5%-2.0% comparable stores sales growth, 10%-15% annual shareholder returns and adding 20 to 40 new restaurants per year.

How effective Barington will be largely hinges on Bloomin’s ability to make its own improvements and turn shares around first – in a way, that’s a win-win, as it makes it more likely for shareholders to get positive change one way or another. But if Bloomin’s initial efforts are unsuccessful, the stock could get much cheaper before it turns around.

• Market value: $11.5 billion

Iconic soup and snack maker Campbell Soup (CPB, $38.32) ended a proxy fight with hedge fund Third Point at the end of 2018.

Third Point, led by famed activist investor Daniel Loeb, accused the iconic soup purveyor of misleading investors about the qualifications of board members – three heirs of Campbell Soup founder John Dorrance serve on the board and together control 37% of the company’s stock – and being vague about its CEO search. Third Point also complained that management’s strategic plan lacked transparency and pushed for the sale of some units.

Under pressure, Campbell added two new independent directors and gave the activist firm input on a third director who will be added at the May annual meeting. Third Point also persuaded Campbell to hire a new CEO who previously ran Pinnacle Foods and has deep food industry experience.

Campbell initially was targeted because of declining organic sales, ill-advised acquisitions that loaded the company with debt and the abrupt departure of its CEO in 2018.

Although Campbell’s sales are growing at double-digit rates due to contributions from acquisitions, organic sales are falling as a result of pricing competition. Earnings also have been hurt by rising interest expense and promotional spending.

Third Point recently persuaded the company to sell its Garden Fresh Gourmet business, and CPB is in the process of divesting its Campbell Fresh and Campbell International businesses. The sale proceeds will be used to reduce debt. So far, shareholders like what they have seen, driving shares up 14% in 2019 in steady order.

• Market value: $1.4 billion

Activist hedge fund Starboard Value didn’t sugarcoat its message to online auto shopping site Cars.com (CARS, $20.38). In December 2018, after roughly a year of prodding Cars.com, Starboard criticized the company for a continuous trend of customer losses and revenue declines, mounting expenses and a pattern of missed expectations and downward guidance.

Starboard pushed the company to set realistic financial targets and devise a plan for meeting them. Starboard thought Cars.com should be able to generate roughly $4 per share of adjusted free cash flow by 2020 and warned of more aggressive action if signs of progress weren’t seen, including management changes or a forced sale of the business.

While Cars.com’s initial response said very little, the company in January said it was considering strategic alternatives that could include the sale of the business. Analyst outfit Benchmark Capital thinks Cars.com could fetch prices in the high $20s or low $30s from a buyout deal, while analysts from Barrington Research thinks it could sell for $40 to $45. Research believes the sale price could go as high as $40-45 per share.

Barring a buyout, Cars.com missed slightly on revenues in the fourth quarter of 2018, but posted adjusted earnings that were almost twice analyst estimates. Barrington Research analyst Gary Prestopino saw signs of progress in rising average monthly unique visitors to the firm’s website and increased monthly revenues per dealer, which he felt justified his “Outperform” (equivalent of “Buy”) rating on the stock.

• Market value: $26.2 billion

Starboard Value also reached out to Dollar Tree (DLTR, $109.65), in early January, to argue for changes. The activist wants the discount retailer to test a multi-price point strategy under the Dollar Tree banner and turn around its underperforming Family Dollar chain, which has consistently been a drag on the company’s valuation since it was acquired in 2015.

Starboard thinks Dollar Tree could be worth $150 per share if its recommended changes are implemented.

Dollar Tree announced plans in March to close 390 Family Dollar stores and renovate another 1,000 locations. The renovated stores will sell alcohol and have a wider merchandise selection, with some also offering more fresh and frozen foods. It’s not only scaling back, however. The company plans to open 350 new Dollar Tree stores and 200 new Family Dollar stores in 2019.

Dollar Tree also has agreed to the price-point tests, and Starboard said in early April that it’s withdrawing its board nominations and ending its proxy fight.

Telsey Advisory Group analyst Joe Feldman recently upgraded his rating to “Outperform” and raised his DLTR price target to $117 after a meeting with management persuaded him that Dollar Tree would return to earnings growth in the second half of fiscal 2019. Also in March, UBS analyst Michael Lasser increased his price target to $120 while maintaining his “Buy” rating.

• Market value: $795.1 million

Nashville-based Genesco (GCO, $43.33) sells footwear and accessories through more than 1,500 retail stores across North America, the U.K., Ireland and Germany. The company’s best-known brands in the U.S. market are Journeys, Schuh and Johnston & Murphy.

Genesco was targeted by activist investors Legion Partners and 4010 Capital because of weakening results from its Lids hat business, which activists said were dragging down overall performance.

The company reached a “cooperation agreement” with Legion and 4010 about a year ago. Genesco agreed to elevate two new independent directors to the board, sell the Lids business and return all or most of the sale proceeds to investors through share repurchases or a special dividend. Lids indeed was sold in December for $100 million. Genesco said in December that it would use the cash proceeds for share repurchases, boosting the existing buyback authorization to $125 million.

So far, things look better from an operational standpoint. Genesco increased net sales from continuing operations by 3% in the year ended February 2019 and grew comparable-store sales by 5% – the biggest increase in three years. Adjusted earnings per share jumped 23% year-over-year. The stock hasn’t caught up yet, though, up just 6% over the past year versus about 10% for the S&P 500.

• Market value: $4.2 billion
• Mattel (MAT, $12.04) owns iconic brands like Barbie, Fisher-Price, Hot Wheels, Thomas & Friends and American Girl.

Southeastern Asset Management took a 10.25% stake in the toymaker in late 2017 after shares plummeted – the result of a lousy earnings report and a downgrade in Mattel’s debt to junk status.

Since then, Southeastern and other activists have convinced Mattel to add a former Lego executive to its board, bringing badly needed toy industry experience, and to hire a new CEO, Ynon Kreiz, who has television and film industry experience. Kreiz plans to strengthen Mattel’s brands by releasing a live-action Barbie film in 2020, developing 22 animated and live-action TV shows based on Mattel’s characters and partnering with MGM to produce films based on the American Girl and View-Master toy lines.

Kreiz also is targeting a $650 million reduction in manufacturing costs to boost margins.

Mattel has been a roller-coaster stock in 2019, down 14% over the past year but up 20% so far through the first four months of 2019. That included a massive surge in February on strong fourth-quarter earnings – then a huge boomerang move lower a week later after saying sales would be flat this year. However, insiders have started buying stock for the first time since last year, when Kreiz was named CEO. That includes a $1 million purchase in February by the chief himself – essentially betting on a turnaround of his new company.

• Market value: $467.5 million
• Mitek Systems (MITK, $12.07) is a dominant player in the mobile check deposit market. Its technology is used by approximately 6,100 American banks to verify customer identities and process mobile deposits. It also has been through some turmoil: Trading in the stock was halted last August after shares plummeted following the announcement that its CEO and CFO both planned to leave.

However, Mitek’s activist investor interest didn’t begin until October 2018, when it rejected a buyout offer from Florida-based ASG Technologies that was backed by activist Elliott Management. Elliott then approached Mitek’s board to ask for board changes, relief from a poison pill (so it could boost its stake to 14.9%) and reconsideration of ASG’s takeout offer.

In December, ASG increased its cash offer for Mitek from $10 to $11.50 per share. Mitek responded that the new offer was still too low but offered ASG another opportunity to sweeten its bid if Elliott and ASG agreed to a confidentiality contract during the due diligence period.

Mitek reportedly attracted multiple offers from potential buyers, with Benchmark analyst Mark Schappel suggesting Jack Henry (JHKY), Fidelity National Information (FIS) and Paylocity (PCTY), among others, could be interested.

No deal has emerged, but in March, Schappel increased his price target on Mitek from $12 to $15 and reiterated his “Buy” rating, citing the expansion in industry valuation multiples since his earlier report, continued positive progress by Mitek and the company’s recent hiring of a new CEO.

Unlike the typical under-performing activist target, Mitek has an impressive track record of 30%-plus annual sales growth over seven years and 20 consecutive quarters of adjusted profits, as of the quarter reported in January. The company participates in a $10 billion worldwide mobile payments market estimated to be growing 16% annually.

• Market value: $285.9 billion

Loeb’s Third Point has encouraged Nestle SA (NSRGY, $96.12), the world’s largest packaged food company, to speed up its pace of divestitures and set more aggressive profit margin targets.

In a 34-page letter to Nestle last year, Third Point urged the spin off non-core businesses, the reorganization of Nestle into beverage, nutrition and grocery businesses and the recruitment of outside directors who have food industry expertise.

Nestle has responded by divesting its Gerber Life Insurance and U.S. confectionery businesses and announcing plans to sell its Nestle Skin Health and Herta charcuterie operations. Several private-equity firms are bidding on the skin-care business, which sources say could fetch as much as $7 billion.

Nestle also is pursuing deals in high-growth markets such as pet care, infant nutrition and premium waters. The company is looking to acquire Canada-based Champion Petfoods and signed a deal with Starbucks (SBUX) last year to sell its packaged coffees and teas worldwide.

Lastly, the foods giant has committed to operating margin goals of 17.5% to 18.5% by 2020 and accelerating its $20.8 billion share repurchase program.

• Market value: $6.1 billion

About a year ago, consumer goods giant Newell Brands (NWL, $14.35) agreed to add four new board members proposed by activist Carl Icahn, including Icahn’s son Brett. Icahn has a nearly 9% stake in the company.

Newell owns well-known consumer brands including Paper Mate and Sharpie pens, Elmer’s glue, Coleman stoves, Rubbermaid containers and Graco car seats.

Despite recent asset sales that include the $500 million sale of the Process Solutions business and the Rexair business for an undisclosed sum, sales trends remained disappointing. The new Newell board put pressure on CEO Michael Polk, who announced in March that he would retire after this year’s second quarter.

Newell has sold or plans to sell eight businesses that together represent about 35% of the company’s sales. These include its Team Sports, Beauty, U.S. Playing Cards, Jostens and Pure Fishing operations. The remaining businesses are expected to generate annualized revenues of approximately $9.5 billion by 2020 and operating margins roughly 300 basis points above current levels.

The company said the proposed asset sales would generate enough proceeds to deleverage its balance sheet while creating a leaner, more profitable Newell. But Newell did disappoint analysts by later saying it expected to raise just $8.8 billion from asset sales, down from a $9 billion estimate. Still, that will help enormously in hacking away at most of the company’s debt and simplifying the business.

• Market value: $130.3 billion

Daniel Loeb’s Third Point established a stake in PayPal (PYPL, $110.94) last July because it likes the online payments business. According to Third Point, PYPL could be the next Netflix (NFLX) or Amazon.com (AMZN), offering as much as 50% upside over its July share price of $86.

PayPal serves more than 267 million customer accounts, including 21 million merchant accounts. Since its spinoff from eBay, the company has aggressively expanded its payment platform via acquisition, emerging as the dominant player in online transactions.

PayPal’s revenues grew 21% in 2018, filtering down to a 28% jump in adjusted profits. The company added 39 million new active accounts last year, including 2.9 million via acquisitions. Third Point especially likes the company’s Venmo social payments app, which surpassed eBay volumes for the first time in 2018, and the company’s ability to generate free cash flow, which was an adjusted $3.2 billion last year.

PayPal is guiding for 16%-17% revenue growth and 17%-20% gains in non-GAAP EPS in 2019. The company also anticipates generating more than $3 billion in free cash flow.

Nomura analyst Bill Carcache has a “Buy” rating and recently raised his PayPal price target, noting strong core operating trends despite currency headwinds. BTIG analyst Mark Palmer also boosted his price target and reiterated his “Buy” rating. He said PayPal deserves a premium multiple because it can grow twice as fast as its peers.

• Market value: $1.7 billion

An unsolicited buyout bid sent shares of oil and gas producer QEP Resources (QEP, $7.23) up 40% in January. Elliott Management, which began accumulating its 5% stake last September, made its buyout offer contingent on QEP closing the $735 million sale of its oil and natural gas operations in Louisiana.

In a letter to the company, Elliott commented that QEP has made significant progress repositioning itself as a pure play on the Permian Basin, but thought an outright sale of the business would create greater value for shareholders. Elliott offered $8.75 a share for QEP, which was a 44% premium over the pre-buyout offer.

QEP said it was considering Elliott’s offer and terminated an agreement to sell its Williston Basin assets to Vantage Energy (VEAC).

While QEP waits for a resolution, it also has announced plans to cut 45% from general and administrative expenses over the next two years to make its cost structure competitive with industry peers. This announcement followed the release of fourth-quarter 2018 sales and earnings that fell short of analyst estimates.

• Market value: $295.5 million

Two years post-bankruptcy, SandRidge Energy (SD, $8.28) is making headway thanks to unsolicited help from legendary investor Carl Icahn.

SandRidge was a successful early player in the shale drilling boom but earned Icahn’s wrath after a failed bid to acquire Bonanza Creek Energy. Icahn called the deal too expensive.

Icahn won control of the board in June of last year after a proxy fight. He argued that SandRidge was overpaying executives, had offered too much for Bonanza, had failed to pursue a buyout offer from MidStates Petroleum (MPO) and was blocking progress with a “poison pill” that entrenched management.

Icahn installed new management, put in place a formal process for reviewing buyout offers that requires a shareholder vote and pushed through a top-to-bottom review of SandRidge’s executive compensation plan.

The stock has bombed by more than 50% since Icahn won his proxy vote, but the company is starting to show operational improvements. SandRidge produced 12.3 million barrels of energy last year and has proved reserves valued at $1.04 billion, which is roughly three times its market value. The company generated $167 million of adjusted EBITDA in 2018 and has no net debt. Also, its borrowing capacity exceeds $356 million, which gives SandRidge ample flexibility for small acquisitions or stepping up its drilling activities.

• Market value: $122.1 billion
• United Technologies (UTX, $141.58) is the maker of Pratt & Whitney jet engines, Otis elevators and Carrier air conditioners. And Third Point and Pershing Square Investors were instrumental in pushing UTX to separate into three businesses, suggesting the breakup – which will split Otis and Carrier off into their own companies – could unlock $20 billion of incremental shareholder value.

In a year-end 2018 letter to investors, Pershing Square said the company’s aerospace and elevator businesses are well-insulated from cyclicality because of strong order bookings, multiyear backlogs and long-term service contracts. United Technologies has committed to breaking up its businesses and recently hired two veteran CEOs to guide the company through the spinoff process.

Morgan Stanley analyst Rajeev Lalwani sees a favorable risk/reward for United Technologies, calling shares “far from broken.” He has an “Overweight” rating on United Technologies and a $150 share price target, which he based on his sum-of-the-parts analysis.

Maybe you found your son’s old Pokémon cards in a box in your basement. Or perhaps you ordered a professional camera, but you realize you have no time to use it. It’s time to de-clutter, and you want this stuff – valuable stuff to somebody out there – gone, now. What do you do? Sell it on eBay, the popular online auction site.

I’ve done it myself. It’s fun and easy, and it quickly fills your pockets with some extra cash. I have sold, for instance, a tennis racket, a tennis bag and strings. To sell the racket, I took some pictures, wrote a product description, listed it at eBay’s recommended “Buy It Now” price ($75) and sold the item within two days. Great. . . until I found out that other eBay sellers had sold the same racket for double the price. Why did I come up short? Lots of reasons, I’ve discovered.

Here are 9 simple ways to get more money on your eBay auction.

Unless you’ve set your listings to private, anyone can identify active bidders on your auction as well as the final buyer. Public listings might turn away potential buyers who prefer to keep their online activity confidential.

If you are selling sensitive goods, such as high-value items or medical products, or “adult goods,” such as lingerie, a private listing could attract shy buyers and increase the number of bids. It keeps bidders’ and buyers’ identities hidden from the public. The seller, who must know the buyer’s identity to complete the sale, is the only one who sees them.

Private selling still allows buyers to give you feedback after the transaction. However, the reviews will not link to the private-listed items you sold.

When listing your item on eBay, you can choose to donate 10% – 100% of your auction’s final sales price to a charity of your choice. If you do so, the organization’s logo will appear in the item’s description, which will attract more traffic to your listing. While most online shoppers hunt for the cheapest price, some buyers filter for listings associated with a specific charity.

Your donated proceeds are tax-deductible. Additionally, eBay credits back a portion of the seller fees -- equal to the percentage of your sales price that you designate for charity -- after you sell the item, increasing your profits on the sale.

Even after donating a portion of your proceeds, you still might come out ahead. For example, let’s say you’re selling a camera. Without the charity tie-in, you might sell the camera for, say, $100; subtract eBay’s 10% cut, and you’ll net $90.

With the charity tie-in, you’ll attract more shoppers, perhaps driving the final price up to, say, $110. Give 10% ($11) back to eBay, and give away 10% (another $11) to charity, and you’re down to $88. But eBay will credit you $3.30 for the charity link, bringing your bottom-line gain up to $91.30.

When you list a new item for sale on eBay, you can set the length of time that bidding will be open – from one day to 10 days.

The Journal of Industrial Economics shows that 10-day auctions yield 42% more than three- and five-day auctions, and 18% more than seven-day auctions. “Typically, the longer your auction is up and running, the more exposure to prospective buyers, and the higher the chance for competing bidders driving up the price,” says Jordan Malik, author of six best-selling help books for eBay and Amazon sellers.

The downside to a 10-day listing: You’ll have to wait a few extra days to get rid of your stuff – and to get your money.

To maximize your auction’s exposure to potential buyers, start your listing on a Thursday evening. With a 10-day listing, it will end on a Sunday evening, and it will be active on two Sundays instead of just one. Although folks can bid around the clock every day, wherever they are, Sunday evenings on eBay offer what late Friday afternoons offer in Los Angeles: peak traffic. People are at home, not distracted, and they have time to go bargain hunting.

And you? You enjoy the item’s price going up on your lazy Sunday evening.

“Return is a comfort and trust factor,” says Prabhat Shah, online marketer and seller at DayToDay eBay, which offers training for eBay and Amazon sellers.

Allowing buyers to return items mitigates the fear of buyer’s remorse that might prevent some folks from bidding on your item. It gives them a sense of security, and they will be willing to pay a little extra for that. “My experience shows that buyers will pay significantly more for an item when they are confident they can return it ‘hassle free,’” says Malik.

Also, if you handle returns properly, you are more likely to receive positive feedback. Sellers with many positive reviews receive more bids.

Although free shipping cuts into your profit margins, “it is a must,” says Mike Thomas, of BTW Consulting, a firm that gives advice to eBay and Amazon sellers. These days, buyers expect free shipping, and they are put off if you don’t offer it.

Malik agrees: “It’s a thoughtless process for buyers to just jump to the other seller who is offering free shipping.”

Opening your auction at $0.01 (dubbed the “penny auction”) will encourage early and frequent bidding by shoppers hoping to snag a deal, and they’ll stay engaged with your auction as prices escalate. Malik explains that the early activity can lead to a higher selling price because the competition motivates bidders to win at any cost. “Emotion drives their buying power,” he says.

If you are afraid to start your auction as low as a penny, you can set a reserve price: the lowest price, unbeknownst to bidders, that the bidding must reach for the item to be sold. This allows you to set a low starting price for your auction – and boost interest in your item – without the risk of having to sell your item for less than you think it's worth.

Adding a local-pickup option to your listing does not mean that buyers must pick up the item, and your auction will still be out there for the whole world to see – and bid on. Such listings will be more likely to appear as a top hit for buyers who have used eBay’s tool to filter their search by proximity to the seller - because they either don’t want to wait or don’t want to pay for shipping.

“Think like a buyer,” says Danna Crawford, another consultant to eBay sellers. “What kind of words would you place in that search bar to find your item?”

You’re allowed a maximum of 80 words in your product description. Some words are more profitable than others. Researchers at Birmingham City University, in England, analyzed more than 15 million words in more than 68,000 completed eBay listings. Results showed that carefully chosen words increase traffic to your auction and even impact the final price. Listings that used the word “sneaker,” for example, sold at a 52% higher price than those saying “trainers” instead.

But what words should you use? “Follow success,” Crawford says. She emphasizes the importance of studying other sellers to see what has worked for them. The advanced search option on eBay allows you to filter sold and completed listings by category and buying format (auction or fixed price). This is how I found out that my tennis racket could have sold for $150 instead of $75. Benchmark successful sellers, and you will be surprised at how much your items will sell for.

Want big returns? Take on big risks. So goes the inescapable calculus of investing. With so many investors focused on safety and income these days, we decided to take a contrarian approach by looking for risky companies that have the potential to deliver big payoffs.

We’ve identified eight risky stocks that we believe are worth the risk. Several of these companies, we feel, have the potential to be game-changers in their industries—the proverbial “next Google.” But in exchange for the possibility of a big payoff down the road, investors must be content forgoing profits for the time being (only one of our picks pays a dividend). Others on the list are already profitable and show great potential, but come with other unusual or notable risks. Consider stashing a small portion of your play money into each of these names, then ignoring them for a few years. Chances are not all will succeed. But the one or two (or more) winners on the list could win big.

All prices and returns are through September 9. Price-earnings ratios are based on estimated earnings over the next four quarters. Sales are for the past four quarters.

• Symbol: BABAShare price: $99.62Market capitalization: $246.3 billion52-week range: $57.20 - $104.30Annual sales: $17 billionEstimated earnings for the fiscal year ending March 2017: $3.28 per shareEstimated earnings for the fiscal year ending March 2018: $4.21 per sharePrice-earnings ratio: 29Year-to-date return: 23%
• What does the company do? Often called “the eBay of China,” Alibaba is the dominant online retailer in China. Alibaba’s business model is slightly different than those of the U.S. companies it’s often compared to, combining elements of eBay (EBAY), Amazon.com (AMZN) and PayPal (PYPL). Its websites are essentially large online marketplaces, linking buyers with sellers and earning fees from advertising and payment processing. But unlike eBay, it doesn’t operate auctions, and unlike Amazon, it doesn’t sell products itself.
• Why is the stock risky? “It’s risky because we don’t know where China is going,” says Benjamin Segal, manager of the Neuberger Berman International Equity Fund, which owns the stock. Economic growth in China has been slowing, the Shanghai Composite index has fallen more than 40% since June 2015, and economists have been warning of risks in the country’s “shadow banking” sector, in which lightly regulated financial companies have been selling trillions of dollars in risky products.
• Why is it worth the risk? A slowing Chinese economy is still a growing Chinese economy. The country is gradually shifting to a consumer-driven economy from one in which investment spending—including government investments in infrastructure and spending by state-sponsored and private enterprises—has been the main driver of growth. That should spell more business for retailers. Moreover, China doesn’t have the vast array of brick-and-mortar stores that the U.S. does, making newly minted members of the middle class more likely to turn to online shopping first. Alibaba’s profits have grown almost tenfold in the past three years, and analysts expect them to increase by a still-brisk 28% annual pace over the next three to five years. “In an economy that will, in time, be comparable to if not bigger than the U.S., here is eBay, PayPal and Amazon all wrapped into one,” says Segal. Compared with, say, Amazon.com’s P/E ratio of 101, Alibaba, trading at 29 times estimated year-ahead profits, looks cheap.
• SEE ALSO: The Best Stocks From Around the World

• Symbol: ATHNShare price: $120.12Market capitalization: $4.7 billion52-week range: $114.59 - $170.42Annual sales: $1 billionEstimated 2016 earnings: $1.77 per shareEstimated 2017 earnings: $2.23 per sharePrice-earnings ratio: 62Year-to-date return: –25%
• What does the company do? Athenahealth offers web-based health care software for physicians and hospitals. The software helps health care providers track and collect reimbursements from insurers, store patients’ electronic health records, and coordinate overall office-management tasks. Athenahealth earns its money by charging a percentage of collections, which aligns its incentives with clients and often works out to be cheaper for users than alternative systems.
• Why is the stock risky? The company is barely profitable, and the health care sector is slow-moving and fraught with bureaucracy, meaning providers may be slow to adopt a new way of doing things. Its chief executive officer, Jonathan Bush (nephew to the 41st U.S. President and cousin to the 43rd), is considered controversial because of his tendency to divulge too much information about the inner workings and struggles of his company. And the stock is hardly cheap.
• Why is it worth the risk? Sure, health care companies are slow to adopt change, but the slow-moving, costly existing process of health care billing is ripe for a makeover, and Athenahealth’s products are the most compelling on the market. Cathie Wood, CEO of ARK Investment Management, says the company’s strategy is reminiscent of that of Amazon.com—forgoing near-term profits in an effort to stake out a dominant market position. “This could be a winner-take-most situation,” says Wood. Investors will need to be patient with the stock, but Athenahealth could be worth the wait.

• Symbol: BLUEShare price: $53.43Market capitalization: $2.1 billion52-week range: $35.37 – $143.08Annual sales: Not meaningfulEstimated 2016 earnings: –$6.15 per shareEstimated 2017 earnings: –$6.52 per shareYear-to-date return: –17%
• What does the company do? Bluebird develops gene therapies, an up-and-coming medical treatment that entails introducing “corrected” genes into a patient’s body, in order to treat or even cure a genetic condition. Bluebird is developing gene therapies to target certain types of genetically caused anemia: severe sickle cell disease and beta thalassemia. The company also has a gene therapy in the works to treat a rare nervous-system disorder and is in the early stages of developing immunotherapies for certain types of cancer.
• Why is the stock risky? All of Bluebird’s products are still in clinical trials, so the company does not yet earn money from selling its products, let alone generate any profits. There’s always the risk that the company burns through its cash before it brings any products to market.
• Why is it worth the risk? Bluebird’s therapies have seen some inspiring results. Although the company’s drug trials have thus far included relatively small numbers of people, in a few cases patients appear to have been cured of all symptoms of a life-threatening genetic condition with just one course of treatment. “Bluebird’s treatments have the potential to be life-changing,” says Dennis Wassung, a portfolio manager with Cabot Wealth Management who owns the stock in separately managed accounts. Results haven’t been uniformly perfect for any of Bluebird’s therapies, but all three of its gene therapies hold promise.

It’s hard to come up with an appropriate price tag for such an early-stage company. But with the stock down 73% from its May 2015 peak of $197.35—because of some unexpected setbacks in trial results and also because of overall weakness among biotech stocks—investors might one day look back at the current share price and see a screaming buying opportunity.

• Symbol: DXCMShare price: $92.96Market capitalization: $7.7 billion52-week range: $47.92 – $103.29Annual sales: $490 millionEstimated 2016 earnings: –$0.57 per shareEstimated 2017 earnings: $0.26 per shareYear-to-date return: 14%
• What does the company do? Dexcom makes continuous glucose monitoring systems for patients with diabetes. An alternative to conventional finger-prick tests, Dexcom’s products essentially provide moment-by-moment tracking of glucose levels, using a sensor that is inserted under the skin. The device automatically transmits data to a small, iPod-like instrument, which allows patients to watch trends on their blood sugar and receive alerts if their glucose levels enter dangerous territory.
• Why is the stock risky? Dexcom has yet to turn profitable, and it’s not the only company offering this type of technology. Plus, the stock has already enjoyed a large run-up—soaring by more than 13 times since November 2011. On a price-to-sales basis, Dexcom trades at a “meaningful premium” to its peers, says Wassung.
• Why is it worth the risk? Dexcom leads competitors in terms of market share and accuracy of its products, so it deserves a premium valuation. Only 15% of patients with type-1 diabetes are using continuous glucose monitoring systems, Wassung says, so an enormous untapped opportunity set remains. “Dexcom’s technology has really just started to hit the mainstream market in the last few years, and is receiving a lot of support from the medical community,” he adds. Analysts expect the company to turn profitable in the fourth quarter of 2016, earn $0.26 per share next year and $0.98 per share in 2018.

• Symbol: ESLTShare price: $96.70Market capitalization: $4.0 billion52-week range: $72.05 – $103.28Annual sales: $3.2 billionActual 2015 earnings: $4.74 per shareEstimated 2016 earnings: Not availableEstimated 2017 earnings: Not availableYear to date return: 10.8%
• What does the company do? Elbit Systems makes drones, technology systems for aircrafts, and intelligence-gathering and military communications systems. The company, which is based in Haifa, Israel, sells its products all over the world, with no one country or geographic area dominating its revenues.
• Why is the stock risky? Elbit is based in a tough and volatile neighborhood. Trade with Israel is vulnerable to shifting political winds. And although the shares trade on Nasdaq, Elbit’s shares are not as liquid as a typical U.S. stock.
• Why is it worth the risk? Elbit’s growth prospects are excellent thanks to its broad geographic diversification. For example, in the first half of 2016, sales to Europe increased by 31% compared with the same period in 2015, as European members of NATO boosted spending on their militaries because of concerns about Russia’s expansionist aims. The company’s high-tech focus should continue to give it an edge; it recently signed contracts for delivery of thermal-imaging observation systems and tactical communication systems. The company has a backlog of orders worth $6.8 billion, equivalent to more than two years of annual revenue. First-half profits of $106 million ($2.49 per share) were up 18% from the first six months of 2015. The stock has been on a tear, more than tripling since August 2012, but we think it still has room to run. Elbit is the only company on our list that pays a dividend. The stock yields 1.7%.

• Symbol: SKXShare price: $23.48Market capitalization: $3.7 billion52-week range: $22.50 – $49.58Annual sales: $3.4 billionEstimated 2016 earnings: $1.83 per shareEstimated 2017 earnings: $2.14 per sharePrice-earnings ratio: 12Year-to-date return: –22%
• What does the company do? Known mainly for its sneakers, Skechers also makes other casual footwear, such as boots and sandals
• Why is the stock risky? Skechers’ shoes haven’t been, well, cool, in a long time. The brand’s heyday was in the late ’90s and early aughts, arguably peaking in 2001, when Brittany Spears appeared on the cover of Forbes in a pair of Skechers (alongside a story proclaiming that the company might be the “next Nike”). Since then, sales have grown at a respectable 8.9% per year, but Skechers has made missteps in its quest to regain its former trendiness. In 2012, for example, the company settled charges with the Federal Trade Commission that its Shape Up shoes (endorsed by Kim Kardashian) would help wearers lose weight and tone their backsides. The stock has sunk 27% since July 21, when the company reported second-quarter results that came in below analysts’ estimates.
• Why is it worth the risk? Skechers may never again be the hottest must-have shoe. Instead, the company has shifted its strategy to offering a lot of inexpensive versions of popular styles, aiming to capture a portion of market share in a variety of categories rather than focusing on a single trendy shoe. In 2015, Skechers surpassed Adidas to become the second-biggest seller of athletic footwear in the U.S., behind only Nike (NKE).

Sales and earnings have grown robustly in recent years. Sales rose an annualized 26% from 2012 through 2015, and profits skyrocketed from $10 million to $232 million. The streak came to a halt in the second quarter, with sales expanding by only 10% from the same period in 2015 and earnings actually slipping by 7%. However, much of the slowdown was due to onetime issues. Wassung says investors have been too hard on the stock in the past month and a half, and he sees a buying opportunity.

• Symbol: TSLAShare price: $194.47Market capitalization: $28.9 billion52-week range: $141.05 – $271.57Annual sales: $4.6 billionEstimated 2016 earnings: –$0.95 per shareEstimated 2017 earnings: $1.71 per sharePrice-earnings ratio: Not meaningfulYear-to-date return: –19%
• What does the company do? Tesla is best known for its sleek electric vehicles, and almost all of its revenues come from selling cars and related products and services. But the ambitions of Elon Musk, the company’s enigmatic CEO, don’t stop at high-end cars. Tesla is in the process of acquiring SolarCity (SCTY), a maker of solar panels, and Musk has said he wants Tesla to become a one-stop shop to help consumers power their households. He plans to accomplish this by selling panels along with efficient batteries for storing generated energy (because solar panels generate a lot of energy at certain times of day, and none at others).
• Why is the stock risky? Tesla has yet to turn a profit, although analysts expect it to earn money in the current quarter. And lofty expectations are already baked into the stock, which trades at 185 times estimated year-ahead earnings (profits are so low, the P/E isn’t especially meaningful). Moreover, Tesla’s proposed acquisition of SolarCity has been criticized as a bailout of the solar company, which came close to running out of cash this year and has been unable to persuade other potential suitors to invest. Tesla has itself reported in regulatory filings that it will need to issue additional stock or debt before the end of the year, in part to bankroll the merger.
• Why is it worth the risk? Few companies can truly lay claim to having the potential to change the world, but Tesla is one of them. Musk has said he expects the company to be producing 1 million electric vehicles per year by 2020, as Tesla works on making its factories more efficient. That would put its output at roughly one-seventh of the annual output of Ford Motor (F). The company is also investing heavily in its battery technology, which has the potential to serve applications far beyond vehicles and solar-powered homes. “Lots of investors don’t like the fact that they can’t hang their hat on certain quarterly numbers,” says Wood, of ARK Investment Management, a firm that runs actively managed exchange-traded funds and owns the stock. “We don’t mind because we see the big picture.”
• QUIZ: How Well Do You Know Dividends?

• Symbol: TUBEShare price: $8.99Market capitalization: $326 million52-week range: $8.75 – $14.46Annual sales: $202 millionEstimated 2016 earnings: –$0.58 per shareEstimated 2017 earnings: –$0.31 per shareYear-to-date return: –34%
• What does the company do? TubeMogul develops self-service advertising software that allows advertisers and advertising agencies to directly purchase TV, online and mobile ad spots. Its business model represents a dramatic shift for the advertising industry. Print, online and broadcast ads have traditionally been bought and sold through a laborious and costly process of soliciting requests for proposals, with layers of middlemen taking cuts of deals.
• Why is the stock risky? The company is not yet profitable. Analysts, on average, don’t expect it to make money until 2018, but it could remain in the red for longer than investors expect.
• Why is it worth the risk? “Disruption” is a buzzword that gets wildly overused in the world of start-ups, but TubeMogul’s business model does seem to have the potential to be a game-changer for digital advertising. It’s a cheaper model for advertisers and it allows them to, with a few clicks, target the exact demographic groups they want to reach on the exact mediums they want to use. And it provides up-to-the-moment analytics on whether an ad campaign is reaching the right people. Plus, the stock looks reasonable on the basis of its price-to-sales ratio. The shares sell at 1.7 times the past 12 months’ sales, matching the price-to-sales ratio for industrial companies in Standard & Poor’s 500-stock index.
• SEE ALSO: 5 Good Dividend Stocks to Buy While They Are Cheap

My office buddy asked me to lend him a few hundred dollars, but the idea makes me uncomfortable. How should I handle the request?

Lending a friend a few bucks for coffee is usually no big deal. But for a sum that feels significant to you, ask your colleague for time to think through the decision.

If, after careful consideration, you’re still uneasy about lending the money, phrase your refusal politely but without leaving room for negotiation or delving into the details of why you’re saying no. Pamela Eyring, president of the Protocol School of Washington, suggests saying something like “it’s my personal policy not to lend money to friends or family” or “I’ve had bad experiences with ruined friendships, and I don’t want that to happen to us.” Then brainstorm other ways your friend could come up with the cash—say, by referring him to a freelance job or showing him how to sell on eBay.

If you decide to lend the money, insist that you both sign a promissory note. Explain to your friend that clarifying the terms of repayment on paper will help preserve your friendship.

I offered to buy concert tickets for my group so we can sit together. How can I ensure that everyone pays me back promptly?

Before clicking “buy,” calculate the amount each member of your group will owe (including fees and taxes) and get everyone’s go-ahead to make the purchase. Once you’ve ordered the tickets, forward your receipt or e-mail confirmation, and tell the group when and how you would like to be repaid (“I’d prefer cash or a check the day of the show” or “Please send me the money via PayPal by Friday. Thanks!”).

It’s likely that someone will forget, but don’t assume people are trying to stiff you, says Jodi RR Smith, of Mannersmith, an etiquette consulting firm. Before meeting up with your forgetful friend at the next social event, text or e-mail a reminder, keeping the tone friendly. If that doesn’t work, pin down a time to meet in person and get the money.

My friend helped me paint my house. How should I compensate her?

Often, a thank-you note and a home-cooked meal, or the sincere offer to reciprocate in the future, is fine. Use the complexity of the task and your own budget as a guide. If you decide to do more, offer a gift card (say, to a favorite store or restaurant) as a gesture of thanks. Eyring suggests spending $50 to $100 as a general range.

If your friend is using a professional skill to do something that takes a lot of time, such as building a Web site, settle up front on how much you should pay for the project.

Maybe you’re downsizing from a sprawling house in the suburbs to a downtown condo. Perhaps a parent is moving to a retirement community, and you and your siblings are excavating the family home. Or maybe you’re just plain tired of having too much stuff. Whatever the reason, having fewer possessions can simplify your life and put some cash in your pocket. But doing it the right way requires patience and possibly help from the pros.

See Our Kip Tips Column: 5 Ways to Make Money From Spring Cleaning

What’s the right way? That depends on how many belongings you have, your timeline and how much of the work you’re willing to do on your own. For large-scale downsizing, estate-sale and auction professionals can help sift through your stuff, estimate its value and sell it for a good price. If you have a number of valuable items to sell but not enough to warrant a large sale (or if you want a shot at selling things that didn’t go in the first attempt), consider consignment shops and Web sites such as eBay. And don’t forget charitable donations, which can reward your generosity with a tax deduction.

If you’re selling or donating items of significant value—or if you’re not sure whether they’re valuable—call in an appraiser. At www.appraisers.org, you can search for accredited personal-property appraisers by location and specialty. Fees vary by region and by the appraiser’s accreditation level but may range from $125 to $300 per hour. Or an estate-sale or auction company that you hire may have qualified appraisers on staff. Ask appraisers about their credentials (such as accreditation from the American Society of Appraisers, the International Society of Appraisers or the Appraisers Association of America) and how long they’ve conducted appraisals.

Invite family members to take anything you’re willing to give away. For those who aren’t in your region, you could post photographs of items online with a tool that everyone can access, such as Dropbox, suggests Mary Kay Buysse, executive director of the National Association of Senior Move Managers. Don’t overlook items that may have sentimental value. “A lot of times, it’s the grandchildren who want Grandmother’s apron or her china set,” says Victoria Roberts, a certified professional organizer and owner of Victoria Roberts Organizing, in Mill Valley, Calif. But in your enthusiasm to clean house, don’t foist leftovers on those who don’t show interest. Chances are, they’ll sneak it into the trash (or sell it themselves) when you’re not looking.

Selling a lot of stuff

Temper your expectations about how valuable your old furnishings may be. Preferences for furniture and decor, especially among younger families, have shifted from traditional and antique to modern—and easy to transport (think Ikea or Crate and Barrel’s CB2). Heavy, dark furniture is flooding the market as more people downsize, and the supply is outpacing demand. Flat-screen TVs and digital music are making entertainment centers obsolete, and dining suites are disappearing along with formal dining rooms.

“I’m in the position of telling people that the market for their wonderful furniture isn’t what it was 10 or 20 years ago,” says Kathleen Orozco, owner of appraisal and estate-liquidation firm Kathleen Orozco & Associates, in Denver. “The buyers aren’t there.”

Despite the challenges, you can find a good home for your castoffs—and cash in on some of them, too.

Host an estate sale. If you have a houseful of items to sell that add up to several thousand dollars in value, hosting buyers in your home through an estate sale is a prime option. Ideally, you’ll have plenty of time to choose a company and have the liquidator prepare your home and belongings for a sale. But if you’re on a tight deadline, a pro should be able to help you wrap it up quickly.

Keep in mind that if your possessions aren’t worth at least, say, $10,000, a company may not agree to hold your sale. And estate liquidators take a sizable chunk of the proceeds—typically about 35% to 40%, says Julie Hall, director of the American Society of Estate Liquidators. But they will also take a lot of the work off your hands. They often have connections with local, regular buyers of antiques and other items to whom they can advertise your goods (and they’ll promote your sale to the general public, too). They’ll price items and set them up in your home in a way that’s attractive and that avoids bumps and breakage as buyers pass through. And a staff present during the sale can control crowds, run the cashier stand and keep an eye out for thieves. “An estate sale is not a glorified yard sale,” says Hall. “There’s a lot of sweat equity.”

Although many antiques, carpets and furniture aren’t the draw they once were, they may have a better chance of selling from your house than from other venues because buyers can more easily visualize them in their own homes, says Orozco. Utilitarian items such as tools and kitchen supplies often appeal to buyers. If having the sale in your home isn’t realistic—say, because you’ve sold the home and are in a rush to remove the items—look for a company that will take away the goods to sell them.

You can look for an estate liquidator at www.aselonline.com and www.estatesales.net, or ask for referrals from a professional organizer or real estate agent. Select at least three companies to invite for a walk-through of your home, and ask about credentials and training (such as for appraisals) and any required licensing in your area, as well as for references.

Check with the Better Business Bureau as well as consumer review sites such as Angie’s List for a history of serious complaints. Ask whether there are additional fees beyond the standard cut, such as for advertising, cleanup or appraisal. If you have time, attend a sale to see how a liquidator runs the show. And plan not to be at home during the sale, lest you cringe at the sight of strangers rummaging through your stuff.

The auction option. The estate-sale company might send valuable unsold items to auction, especially if they’re likely to be more popular in a different region. Or you can send them to auction yourself.

Auctions come with both the potential upside of a higher price than expected and the possible downside of a disappointingly low price. Often an auction service comes to your home and takes items to a gallery to sell along with other goods. If you have enough high-value items, an auctioneer may have an off-site sale exclusively of your items or host an auction at your residence (especially if you are selling the house along with all of its contents). As with an estate sale, you’ll likely need several thousand dollars’ worth of items to justify a sale from your home.

The fee to sell at auction varies depending on where you are and how the sale is conducted. Generally, the higher the value of items being sold, the lower the commission, says Tim Luke, an auctioneer and valuation expert with TreasureQuest Group. Commissions that auctioneers charge commonly range from 10% to 25% of the “hammer price” but may be as high as 50%. Plus, there may be fees for transportation, storage or marketing.

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Ask for referrals to a good auction service, or comb local listings. At www.auctioneers.org, you can search for an auctioneer by location, specialty and professional designation. A Graduate Personal Property Appraiser has completed classwork to conduct appraisals and keeps up to date with continuing education; a Master Personal Property Appraiser has had more-advanced training. Interview several candidates, check reviews and licensing, and compare fees. Once you’ve chosen a service, a representative will outline the structure of the sale with you. If you can’t stand to see certain items sell for less than a minimum price, they can be sold with a “reserve price”—if they don’t capture a specified minimum bid, they don’t sell.

Smaller-scale solutions

If you have a handful of valuable items to sell, you could try parceling them out online. Lynn Dralle, who runs www.thequeenofauctions.com and makes a living reselling antiques and other items on eBay, says that high-end, brand-name products tend to do well on eBay. Popular items have ranged from china and flatware to old toys and perfume bottles, but to grab good prices they have to be sought-after types or brands.

Take Our Quiz: How Much Is Your Junk Worth?

To get a sense of potential moneymakers you may have on hand, search the listings of sold items on eBay. Click on “Advanced” in the upper-right corner at www.ebay.com and enter keywords such as the brand name and type of item. Check the box for “Sold listings” and click “Search” to find final selling prices. They’ll help you decide whether an item is worth posting and what price you might expect to capture.

EBay takes a 10% cut of your sale (unless you have an eBay Store), and PayPal takes 2.9% plus 30 cents per domestic transaction (up to $3,000 a month) to process payments. Plus, you’ll want to estimate how much to charge a buyer for shipping. You can use tools on the Web sites of the U.S. Postal Service, UPS and FedEx to estimate shipping prices. Dralle recommends choosing the maximum price you might pay to ship an item across the country and listing it as your domestic shipping rate.

Posting and selling household goods on Craigslist is free, but you’re limiting your audience to locals. Lower-value goods and bulky ones that you’d rather not ship are good candidates for Craigslist because buyers can come to you to pick them up. Holding a yard sale may also be worthwhile for unloading those items.

Consignment shops are a brick-and-mortar alternative for selling high-quality furniture, antiques, clothing and other items. Typically, a shop will display your goods on the floor for 30 to 90 days, and it may discount the asking price as time passes. Stores take a cut of about half of the price of anything that sells, but you won’t have to put in the effort of trying to peddle it yourself. Call local shops to ask about their policies as well as what types of items tend to sell well and which aren’t worth the effort.

Donate it

Giving belongings that are in good condition to charity can save you the hassle of trying to sell them, if you don’t mind forgoing the cash. (Donating is also a good way to unload items that didn’t find a home at sale.) Thrift shops, such as Goodwill and Salvation Army stores and local operations, will take a variety of household items, furnishings and clothing. Call or go online to find out which items they don’t want (for example, used computer equipment, TVs and ratty or scuffed furniture) and to see if they will pick up your donations from your home.

If you have anything with cultural or historic value—say, an artifact from the Civil War—a local museum or historic house may be happy to take it off your hands. Churches may be able to use certain items, too. If you itemize deductions on your tax return, don’t forget to get a receipt for each batch of goods you donate; it’s up to you to attach a list of the items to the receipt. You can calculate their fair market value, on which tax deductions for noncash donations are based, by using prices on resale sites (such as eBay’s listing of sold items), the Salvation Army’s donation guide, or Intuit's free “ItsDeductible” program. You’ll have to provide a description of noncash donations that exceed $500 in value on Form 8283. Items worth more than $5,000 require an appraisal.

Deal with emotional baggage

It can be difficult to let go of belongings with sentimental value. Your collection of books may represent years of personal development. Gifts you’ve received are associated with friends and family. Use these tips to stay focused.

Compose a mission statement. Victoria Roberts, a certified professional organizer in Mill Valley, Calif., suggests writing down a goal that you can reread when the going gets tough. It can also help you resist the temptation to rent a storage unit to stash things you are having trouble discarding. Unless you’re saving something for a designated reason—say, a grandchild who has claimed a bedroom set but won’t have space for a few more months—storage units are usually a waste of money and delay an inevitable decision.

Enlist help. Someone with no vested interest in your stuff can push you to keep only the worthwhile items. She may also be able to neutralize family tension or squabbles. And for elderly folks with physical limitations, an assistant can help with lifting and moving. If you’re using a liquidation company or a senior move manager, its reps may help you sort the clutter. Or hire a professional organizer (ask for referrals, or find one at www.napo.net). An organizer may charge $30 to $80 an hour or by the project. Even if you decide not to pay someone to assist you, try making it a social event by bringing in friends and family. They can help make a tedious process fun. Just be sure to plan your strategy if family members want the same item.

Scope out the new place. If you’re moving, get a floor plan of your new home, and measure the door frames and windows. That will help you let go of things that won’t fit. For a stronger visualization, use masking tape to outline the dimensions of rooms in your new home on the floor of your current home.

Keep only what you love most. If you need to get rid of, say, a large collection, hang on to a couple of your most cherished items as keepsakes, suggests Lauri Ward, home design expert and president of Redecorate.com. She advises keeping only the best, most loved and most used items. “Liking something isn’t enough,” she says. (Take digital photos of what you discard to help you remember it.) Do away with anything that’s worn or outdated, unless it holds strong sentimental value. Your new home should feel fresh.

Editor's note: This is part of a continuing series of articles looking at the 20 biggest no-load stock funds.

In Tim Cohen’s world, bad news is often good news. “I like to look for bad news in the newspapers and on Wall Street for potential ideas,” says Cohen, who took over Fidelity Growth & Income in October 2005 after generating four years of stellar results at Fidelity Export & Multinational. One of Growth & Income’s top holdings is Home Depot (symbol HD), which Cohen thinks investors have beaten down below its true value. "A lot of people are afraid to own anything related to housing," he says. "But in my opinion, this is where some of the best values in the market are now."

Cohen is a buy-and-hold investor who favors companies that pay dividends and generate plenty of free cash flow. Beyond that, he invests wherever he finds the best opportunities. At present, that includes many blue-chip growth companies, such as eBay (EBAY) and Google (GOOG). "For every stock I look at, I think what will it will do in the next three to four years and if I can get 50% to 100% appreciation," Cohen says. Although he generally invests with the idea of holding companies "indefinitely," Cohen doesn’t always gravitate to long-term stories. "Sometimes bad companies offer exceptional upside without much risk," he says.

The fund invests 10% to 15% of assets in foreign companies. These are what Cohen describes as "best in class" companies in global industries. "It’s never a call on a specific country," he says. "Bottom-up stock-picking tends to lead me to the best stories located outside of the U.S." At last report, Growth & Income’s foreign holdings include Swiss pharmaceutical giant Roche and Irish biotechnology firm Elan.

Cohen’s bets on such stocks as Home Depot and eBay have led to sluggish results so far. Growth & Income’s 9% return over the past year trails that of the S&P 500 by five percentage points. Although Cohen is one of Fidelity’s rising stars, we’d prefer to see a longer record at Growth & Income before endorsing the fund. Current investors should HOLD it.

FUND FACTS

Fidelity Growth & Income ( FGRIX )

Assets: $30.6 billion

Manager (year started): Tim Cohen (2005)

Returns (vs. S&P 500)*

Year to date: 9.6% (14.1%)

One year: 9.4% (14.3%)

Three years annualized: 9.8% (12.7%)

Five years annualized: 3.9% (6.0%)

Ten years annualized: 7.4% (8.6%)

Expense ratio: 0.69%

Portfolio turnover: 120%

Initial minimum investment: $2,500

Phone: 800-544-8544

Web site: www.fidelity.com

*Returns through Dec. 11.

Fund Fact sources: Standard & Poor's, Morningstar

View updated data for this fund and compare the performance of the 20 biggest no-load stock funds.

Go to A Close Look at the 20 Biggest No-Load Stock Funds.