By Vitor Gaspar and Ruud De Mooij
Imagine how three-dimensional printing, driverless cars and artificial intelligence will change our future. Or think of how developments in information technology, e-commerce and the sharing economy are already changing the way we learn, work, shop, and travel. Innovation drives progress and, in economic terms, determines productivity growth. And productivity growth, in turn, determines prosperity. It impacts our lives and well-being in fundamental ways: it determines where and how long we live; it determines our quality of life.
[Related -An Upside Bias Prevailed In Global Markets Last Week]
In the spring 2016 Fiscal Monitor, we look at innovation as shaped by effort and incentives. That makes innovation highly dependent on government policies. �We find that a little government support can go a long way in boosting innovation and growth. For example, we document that public policies that would reduce the cost of private R&D by 40�percent�will lead to increases in private sector effort by the same percentage, and increase GDP by 5 percent over the long run.
direct investment: Public Service Enterprise Group Incorporated(PEG)
Advisors' Opinion:- [By Shauna O'Brien]
Jefferies announced on Tuesday that it has upgraded Public Service Enterprise Group Inc. (PEG).
The firm has lifted its rating on PEG from “Hold” to “Buy,” and has raised the company’s price target from $36 to $37. This price target suggests a 12% increase from the stock’s current price of $32.42.
Analyst Paul Fremont commented: “We are upgrading to Buy based on the improving outlook for regulatory approval of the company’s “Energy Strong” capital spending program.
“Each $1.0 billion of incremental spending will add an estimated $0.10 to PEG’s earnings. We assume that incremental spending is funded by debt and by incremental cash expected from the increasing gas basis differential between the Leidy hub and New Jersey. Our new estimates are considerably higher than consensus in 2014-16.”
Public Service Enterprise Group shares were mostly flat during pre-market trading Tuesday. The stock is up 6% YTD.
direct investment: Evercore Partners Inc(EVR)
Advisors' Opinion:- [By Jonathan Levin]
The company began operations in 2006 and its fleet includes Airbus SAS single-aisle A319 and A320 jets. Owners include Indigo Partners LLC, Evercore Partners Inc. (EVR) and Evercore Co-Chairman Pedro Aspe, a former Mexico finance minister, according to the pre-IPO filing.
direct investment: Polycom Inc.(PLCM)
Advisors' Opinion:- [By Emily Stewart]
Polycom (PLCM) is Soros' top tech holding. As of the end of the second quarter, he owns 7.9 million shares valued at $89.2 million.
Polycom provides collaboration solutions for voice, video, and content sharing. It has a $1.7 billion market cap and trades at a P/E of 73.24.
- [By Lisa Levin]
Polycom, Inc. (NASDAQ: PLCM) revealed Friday that private equity firm, Siris Capital Group, LLC and its affiliates, have submitted a unilaterally binding offer to buy all outstanding shares for $12.50 per share in cash.
direct investment: TravelCenters of America LLC(TA)
Advisors' Opinion:- [By Lisa Levin]
In trading on Monday, energy shares dipped by 0.70 percent. Meanwhile, top losers in the sector included TravelCenters of America LLC (NYSE: TA), down 18 percent, and Alon USA Energy, Inc. (NYSE: ALJ), down 8 percent.
