Posts by Jeff Macke

  • Best Buy, Williams-Sonoma retail winners, while Caesars aims for REIT jackpot

    Jeff Macke at Yahoo Finance 9 hrs ago

    Investors are boosting Best Buy (BBY). The electronics giant is up more than 7% after reporting an earnings beat. The stronger than expected results were fueled by same store sales that popped a little more than 3% in the third quarter. If "showrooming" was a concern for them this time last year, they proved to have overcome it with online sales surging more than 21% last quarter.

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    Caesars Entertainment (CZR), the deep in debt casino owner, is hitting the jackpot with shareholders to the tune of 9% today. This as the casino company proposed a plan to restructure all that debt, $18.4B worth,  by splitting in two. They would take the 44 properties they own and form a REIT while the existing company would then operate those properties.The details were disclosed in a regulatory filing.

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    3 Market stories to watch today

  • 3 market stories to watch today

    Jeff Macke at Yahoo Finance 14 hrs ago

    It's Thursday morning and futures are lower for reasons I could make up, but let's just attribute the weakness to animal spirits and move on to more tangible news. Here are three things I'm watching.

    Take a look first at the technical picture for the S&P 500 (^GSPC). Yes, we're down almost a full percent but that was the case yesterday as well. Check out how we gave back all of Tuesday's rally intraday on Wednesday. That brought the bears out of the woodwork, as usual, but also as usual they were wrong. By the afternoon stocks were flat and the S&P toyed with positive territory before closing down a whopping 0.15%. Don't anticipate trends. The burden of proof is on the bears to prove the momentum is broken.

    Related: Bull market needs no taming

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    Have a great day and if you're not watching every tick of the tape consider shopping for some holiday gifts. The prices aren't going to get much better.

  • Target & Staples top estimates, while Tesla estimates get slashed

    Jeff Macke at Yahoo Finance 1 day ago

    Target (TGT) started strong and it's gaining steam, now up more than 7% after the company reported earnings of $0.54, well ahead of $0.47 estimates. Minnesota's finest discounter also said it expected holiday quarter U.S. same store sales of 2% driven by a decent consumer and a rebound from a terrible 2013 when a data breach was revealed just ahead of Christmas. In the words of my native tongue: “Oh jeez we're just tearing the shorts a new one dere.”

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    Staples (SPLS) is up 8% after beating earnings and announcing an expansion of its store closings. The company now plans to shutter 170 stores in North America this year, 30 more than the 140 previously announced. As we discussed Monday, Staples is rather surprisingly the second or third largest online merchant in the United States. Despite today's move, shares are down 13% for 2014.














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  • Nasdaq going to 5000, No it's not a bubble: Macke

    Jeff Macke at Yahoo Finance 1 day ago

    Stocks are looking a little weaker this morning after yesterday's strong rally. It's still pretty quiet though which makes this a good day to back up and take a slightly longer-term look. Specifically, I want to address two ideas: First, can the Nasdaq (^IXIC) hit 5,000 this year and second, does that mean we are in another bubble?

    The answer to the first question is yes, of course the Nasdaq can hit 5,000. If it does not happen this year it can certainly do it early next year if only on the basis of momentum and the gravitational pull of big round numbers. The famously tech-laden index is just 6.4% from highs we have not seen in almost a generation. That seems like a lot but keep in mind the Nasdaq is already up 15.9% for the year, almost all of that since mid October.

    Since 1971 the average return for the Nasdaq in November is 1.56%. December comes in at 2% and January, the best month of the year, at a 2.7% average return for 43 years.

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  • Virgin America soars, Urban Outfitters tumbles & GoPro defies the bears

    Jeff Macke at Yahoo Finance 2 days ago

    Time for your daily dose of Trending Tickers, the stocks that you're tracking as measured by Yahoo Finance ticker searches:

    Virgin America (VA) is soaring more than 13% higher a week after its IPO. For want of a better catalyst we'll just say the catalyst is fund manager desperation going into the new year. Nothing wrong with that, my friends. Sure the airline business is hard and Virgin is trading at 1.4x sales, making it one of the more expensive airlines extant, but investors are unconcerned by such things. Shares are 40% above their opening trade and more than 50% over their offering price. Just keep that thing under the stratosphere, folks. Nothing good happens to Virgin in space.

    Related: Heineken in play, Alibaba price rising, Urban Outfitters mocks Kent State

    Those are your Trending Tickers today. Tell us what stocks you're watching on Twitter using the hashtag #TrendingTickers.

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  • S&P 500 on historic calm streak, is a storm coming?

    Jeff Macke at Yahoo Finance 2 days ago

    I've talked aboutthe need for stocks to consolidate here but we're at risk of having too much of a good thing.  Take a look at the last few days of the S&P 500 (^GSPC). What you see for the last 5 days is as close to absolutely nothing as you can get in a market of 500 stocks.

    For one full week worth of trading days the market has failed to post a change of more than .1% on any single day. According to Walter Murphy Global Advisors that streak of tranquility is tied for the longest such run for the S&P 500 ever. Since 1928 Murphy says there have only been three other streaks of 5 days without a greater than .1% move.

    Is that a bad thing? We'll know soon but there are a couple of reasons to be concerned. First, Murphy says the prior instances when this happened -- specifically 1956, 1965 and 1969 -- all marked intermediate tops. So history hasn't been kind to markets quite this dull.

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  • Apple's fresh record, Halliburton-Baker Hughes confirm deal, while DreamWorks-Hasbro talks tank

    Jeff Macke at Yahoo Finance 3 days ago

    Halliburton (HAL) is getting rocked on word that its deal to buy Baker Hughes (BHI) is official. Halliburton will pay 1.12 shares of stock, plus $19 for every share of Baker Hughes valuing the combination at $34.6 billion. The combined entity will be the world's largest oil services company on revenues, if and when the deal goes through as planned. Wall Street is not thrilled. The combined market cap of Halliburton and Baker Hughes is actually down more than $1 billion as investors wonder exactly what the motivation for this deal is beyond a merger-friendly administration and lust for size.

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    Those are your Trending Tickers today. Tell us what stocks you're watching on Twitter using the hashtag #TrendingTickers.

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    Markets under pressure 4 things to watch this week

  • Markets under pressure: 4 things to watch this week

    Jeff Macke at Yahoo Finance 3 days ago

    Happy Monday. I don't know where you are but here in NYC both sleet and stocks are falling from the sky. It's a gut check week for Bulls.

    Here are four things you need to know as we crank up the machine for the last full week of November.

    The Nikkei (^N225) is getting hammered and taking the world with it. Japan's senior index dropped by 3% after the government reported a 1.6% drop in third quarter GDP.  Economists were looking for about a 2% gain. European stocks and Brent crude are both down on the news. In this chart of the Nikkei and you can see that 17,000 level we talk about last week giving way. The technical term for this formation is "uh oh".

    Adding to the consternation, Vladimir Putin took an early powder at the G20 meeting in Australia. Basically the other countries gave Russia's dictator in Chief a hard time over invading Ukraine, so Putin took his ball and went home. He's a thug. Why that shocks people I don't know, but judging by the headlines some people are only now catching on to the fact that Russia has an isolationist streak. Stunning.


  • Retail Roundup: Walmart sets the bar, Target and Best Buy up next

    Jeff Macke at Yahoo Finance 6 days ago

    Huge week for retail with many of the headline names reporting in the last five days and Best Buy (BBY) and Target (TGT) on deck.

    Here are the highlights:

    Walmart (WMT) was up just under 5% Thursday on a sort of mediocre quarter but decent guidance. The share move saw Christy Walton's -  the widow of Sam Walton's son - net worth climb over $40 billion. She's 59 and the richest woman in the world.... Hello, Christy.

    Some perspective for you: Walmart has gained 131,571% since its IPO. That's more than 20% annualized return over 42 years. If we didn't hate the company so much this would be a great story.

    More to the point on trading right now, Walmart gave us our tell for these reports: if you gave Wall Street anything to believe in your shares moved higher.

  • Yankees' GM Brian Cashman goes homeless...for charity

    Jeff Macke at Yahoo Finance 7 days ago

    Stocks are at record highs and economy is gaining strength. Those improvements aren't much solace to people without a fixed place to call home. Tonight, just like every night more than 610,000 people in America will be forced to find shelter either in the streets or other public setting. Nearly a quarter of them will be under 18.

    Trying to help these homeless and at-risk children is what Covenant House has been doing since 1972. This isn't about handouts. A hot-meal and safety are great but Covenant House wants to effect lasting, meaningful change in kids' lives. That means preparing them for a life earning and providing for others.

    Kids who want to stay at Covenant House are expected to keep regular hours, work on getting a degree and take part in training that will help them secure a good job. In other words, they build a stable foundation for the rest of their lives.

    Maybe it's that goal-based vision that inspires executives and leaders like Brain Cashman of the New York Yankees to get involved with the group.