Posts by Kevin Chupka

  • GM, IBM, Harley Davidson and Procter and Gamble all blame strong dollar

    Kevin Chupka at Yahoo Finance 4 days ago

    From IBM (IBM) to Harley Davidson (HOG). From Proctor & Gamble (PG) to General Motors (GM). The list of companies citing a strong dollar as an earnings headwind seems to grow by the day.

    While there is no denying the dollar is stronger now than in any quarter in recent memory, is it a worthy “excuse” for companies who aren’t reporting the kind of earnings Wall Street is looking for?

    “It's totally legit,” says Monica Mehta of Seventh Capital. “If you look at the S&P 500, 45% of the sales for the companies in the S&P 500 as a broad group come from overseas. So when you have a strong dollar you could be kicking butt in sales like Nike (NKE)...but that actually translates to negative top line growth when you take into account the strong dollar.”

    Get the Latest Market Data and News with the Yahoo Finance App

  • Tidal music service flops despite backing from Jay Z, Beyonce and Kanye

    Kevin Chupka at Yahoo Finance 4 days ago

    It was less than a month ago that megastar Jay Z, his equally famous wife Beyonce and several of their musician friends announced the launch of a new music streaming service called Tidal. The service was a bit pricier than competitors like Spotify and Pandora (P) but was said to offer a better deal to artists and give users higher quality audio.

    It seems though that music streamers are perfectly happy with the services they have. The buzz around Tidal pushed the app high in the iPhone download rankings when it was first announced. Now, three weeks later it doesn’t even rank in the top 700.

    BGR notes that Kanye West, also associated with the service, removed the Tidal logo from his Twitter profile and scrubbed any Tidal related tweets from his feed (he then seemed to see the PR error of his ways and Tweeted about Tidal early this morning).

    The love of music is louder than words. http://t.co/dvYp0pl3An pic.twitter.com/1B4edv3jRl

     

  • Elon Musk's Tesla wants to power your car...and your home

    Kevin Chupka at Yahoo Finance 5 days ago

    Elon Musk might be celebrating Earth Day today by getting a brand new Tesla (TSLA) product ready for launch. Set to be announced next week, the popular car company hopes to go from your garage into the rest of your house with a new battery that will help power it.

    Right now the “home battery” industry is a small one - $42 million says Monica Mehta of Seventh Capital. But Elon Musk didn’t get where he is today by concerning himself with the present. Mehta says in just three years that small little industry is expected to balloon to one billion dollars. If Musk is in on the ground floor he stands to not only benefit from that growth but to dictate how it grows by controlling the technology.

    Get the Latest Market Data and News with the Yahoo Finance App

    Musk is the chairman of his cousins’ company, Solar City (SCTY), so it makes sense that he would leverage that relationship, using battery building infrastructure at Tesla to harness the true power of both technologies.

  • Bird flu outbreak, ice cream recall: Is our food safe?

    Kevin Chupka at Yahoo Finance 6 days ago

    From bird flu to bacteria! An ice cream recall and an avian flu outbreak are sparking concerns about food safety in this country today.

    Bird Flu in Iowa One farm in Iowa is “destroying” 5.3 million egg laying hens after an outbreak of the avian flu, the largest one so far this year. According to the Des Moines Register Iowa is the largest egg producing state in the country with about 50 million egg laying birds. It estimates that one in every five eggs consumed in the U.S. comes from Iowa.

    Get the Latest Market Data and News with the Yahoo Finance App

    While this case was specific to eggs, bird flu is a concern for the chickens we eat too. Could the bird flu in end up impacting food prices beyond eggs? Maybe, says Kathy Boyle, CEO of Chapin Hill Advisors. “What happens is the price [was] already up 11% for chickens last year... so this will continue to drive the price up combined with the potential for the commodity prices going up.”

     

  • Earnings preview: Chipotle, McDonald's, Facebook and Google set to report

    Kevin Chupka at Yahoo Finance 6 days ago

    Some big names are set to report quarterly earnings this week, names that have the potential to move markets. Here are just a few to keep an eye on over the next 48 hours.

    Chipotle (CMG) Long the Wall Street darling, Chipotle's stock is up more than 37% since this time last year. When they report after the bell today analysts are looking for the leader in fast casual dining to post earnings of $3.66 on $1.11 billion in revenue.

    Get the Latest Market Data and News with the Yahoo Finance App

    Facebook (FB) Mark Zuckerberg and company are now the second largest ad seller on the web and they are a dominant force in all things mobile. Expectations are therefore high with analysts looking for EPS of 40 cents on $3.56 billion in revenue.

  • ESPN, Verizon, Time Warner Cable and Comcast could help decide fate of TV

    Kevin Chupka at Yahoo Finance 7 days ago

    A duo of television stories could change the landscape of the medium this week as some big names jockey to be at the forefront of how we consume content in the future.

    ESPN vs. Verizon (VZ):  First, in news you may have missed late Friday afternoon, Verizon announced a plan to break up traditional bundles on the popular FiOS TV service, allowing customers more choice in building their cable TV plans.

    FiOS users would be able to buy a package of channels that includes local networks and some major cable networks. They would then have the option for addition clusters like kids channels and sports channels. And there’s the rub. Disney-owned (DIS) sports broadcasting juggernaut ESPN is NOT included in that core offering (it is, however, available in the addition sports package). ESPN says that is a violation of the contract it has with Verizon.

    Yahoo Finance Editor in Chief Andy Serwer says this “a la carte” cable package is the future of the industry. “A la carte is probably going to be more expensive than the bundle...but you get exactly what you want.”

    More from Yahoo Finance

  • Apple Watch, Greece, earnings from Facebook and Google: What to watch next week

    Kevin Chupka at Yahoo Finance 10 days ago

    With another week in the books it’s time to take a look at what might be making news next week. Yahoo Finance's Midday Movers panel weighed in:

    Jen Rogers - Greece One week from today, April 24, is the next deadline in the seemingly endless Greek debt epic. “We had Keith Bliss from the New York Stock Exchange telling us ‘you gotta pay attention to that’...we’re seeing it to start to percolate again,” Rogers says.

    Get the Latest Market Data and News with the Yahoo Finance App

    Yahoo Finance Senior Columnist Michael Santoli notes that the latest news today suggests that Greece’s creditors aren’t talking about kicking Greece out of the European Union so fears won’t revolve around a “Grexit” but rather how ugly all the wheeling and dealing will actually get.

    Here is what analysts expect from some of next weeks big names:

    Facebook reports after the closing bell next Wednesday. Analysts expect earnings of 40 cents a share on $3.56 billion in revenue.

    Amazon reports after the close next Thursday with the street calling for a loss of 11 cents a share on $22.43 billion in revenue.

     

  • NYC Comptroller Scott Stringer: Concerned about fossil fuel investments

    Kevin Chupka at Yahoo Finance 10 days ago

    There’s a movement afoot at elite colleges on both coasts to divest university endowments from controversial companies, especially those in the fossil fuel industry.

    Ethically responsible investing is nothing new, but one person’s ethical violation may be another’s lifeblood and so the waters are murky at best.

    Still, even before the latest movement at progressive universities, some large pension funds had already started moving away from such hot button issues in their portfolios. The California Public Employees Retirement System (CalPERS), the nation’s largest pension fund with more than $240 billion in assets under management, famously divested from gunmakers Smith & Wesson Holding Corp and Sturm, Ruger & Co after the Sandy Hook massacre in Connecticut. Just last year the same fund pulled $4 billion out of hedge fund investments citing the expense and complexity of such financial vehicles.

    Get the Latest Market Data and News with the Yahoo Finance App

    More from Yahoo Finance

  • Apple Watch delay may anger fanboys and girls but shouldn't hurt company

    Kevin Chupka at Yahoo Finance 11 days ago

    Planning on camping out in front of an Apple (AAPL) store next week to get your Apple Watch? Well, put the folding chair and pillows away - you’re out of luck. An internal memo that has leaked across several Apple fanboy blogs says the hottest new gadget won’t hit store shelves for a while, potentially sometime in June.

    The memo from Apple retail chief Angela Ahrendts says in part:

    ...due to high global interest combined with our initial supply, we are only taking orders online right now. I’ll have more updates as we get closer to in-store availability, but we expect this to continue through the month of May.

    To be clear, if you ordered your watch online to be delivered on the original release date of April 24, you should expect it on time. Apple has, however, removed that date from all aspects of their promotional push as anyone who hasn’t already ordered one won’t see that watch anytime remotely close to that April 24 date.

    Sure, fanboys and girls hoping to walk out of an Apple store with a brand new Apple Watch on their wrist may be a bit angered, but does the sale date snafu hurt the company?

  • Tax day: Pot businesses blocked from deductions

    Kevin Chupka at Yahoo Finance 12 days ago

    It’s tax day and whether you are counting your cash from a refund or writing a check to the IRS, one up and coming industry is getting hosed on tax day: marijuana.

    Pot is becoming a big business in states where it’s recreational use is legal (Colorado, Washington, Oregon and Alaska) but unlike other small businesses that can write off things like their truck or their employees’ salaries, those in the pot business can’t take advantage of any deductions.

    Get the Latest Market Data and News with the Yahoo Finance App

    “It’s legal in certain states but it’s against the federal law and so you can’t use any of the federal deductions,” notes Yahoo Finance’s Aaron Task.

    Complicating things further is, as Yahoo Finance Editor in Chief Andy Serwer says, “the marijuana business is not a part of the banking system so these businesses are all cash, which is a huge risk. We’re half pregnant with this and it has to be resolved one way or the other.”

    Yahoo Finance Senior Columnist Michael Santoli summarizes such a law thusly: “ if something is legal in a given state and you spend the money and costs in a given state...you can deduct it.”