Brean Murray downgraded Monarch Casino due to valuation.
Starbucks (SBUX) all-important U.S. business continues to be in need of a jolt. On Thursday, the coffee king said comparable store sales in the U.S. rose a scant 3% for the three months ended April 2, 2017, mimicking its first-quarter showing. Analysts surveyed at Factset were looking for same-store sales growth of at least 3.7%. In China, comparable store sales climbed 7%. New Starbucks CEO Kevin Johnson, who took over from longtime leader Howard Schultz earlier this month, predicted stronger revenue growth in the U.S. for the second half of 2017. He contended that the U.S. business is accelerating and performance in China is vigorous. Earnings of 45 cents a share only came in line with analysts'
South Korea's finance minister said on Sunday the government was already working on downsizing its trade surplus with the United States, a reference to U.S. President Donald Trump's comments Thursday that Washington will renegotiate or scrap the free trade pact the two countries have. Finance Minister Yoo Il-ho added in televised comments he did not expect the free trade agreement will be terminated. "If one party requests for the trade deal to be terminated, it can be ended six months following the request.
The upscale grocery chain is valued at almost $12bn, but six straight quarters of declining sales have led to speculation of a takeover bid. Whole Foods’ share price has dropped by almost half since October 2013. Lunchtime customers at Whole Foods in Manhattan’s Union Square had little trouble expressing the shortcomings that have led the once high-flying, organic-focused retailer to become linked with a takeover.
The Trump administration’s proposal to lower the corporate tax rate to 15% has revived hopes that big U.S. companies will soon be motivated to bring back massive overseas cash piles. While the administration has not yet determined a rate at which those funds could be repatriated, Trump’s proposal unveiled Wednesday promises a “one-time tax on trillions of dollars held overseas.” U.S. companies had about $1.3 trillion in cash held in overseas accounts at the end of 2016, according to Moody’s Investors Service. Read: How Apple could bring overseas cash home to help fix America’s crumbling infrastructure Also: Trump paid $31 million in alternative minimum tax in 2005 — and now he plans to repeal
An Argonne National Laboratory team of researchers has identified one of the major culprits in capacity fade of high-energy lithium-ion batteries. Researchers at the U.S. Department of Energy’s (DOE) Argonne National Laboratory identified one of the major culprits in capacity fade of high-energy lithium-ion batteries in a paper published in The Journal of the Electrochemical Society. For a lithium-ion battery – the kind that we use in laptops, smartphones, and plug-in hybrid electric vehicles – the capacity of the battery is tied directly to the amount of lithium ions that can be shuttled back and forth between the two terminals of the battery as it is charged and discharged.
Mall real estate investment trust (REIT) Simon Property Group (NYSE:SPG) recently announced strong first-quarter results, as well as a 9.4% year-over-year dividend increase. The stock now yields more than 4.2% per year, but trades for just over its 52-week low. Is now a good time to get in on this unique retail REIT? Simon Property Group: The short version Simon Property Group is actually the largest REIT of any kind in the United States. The company invests in mall properties, many of which are under its "Premium Outlets" and "The Mills" brand names. As of this writing, Simon owns or has an interest in about 230 properties with about 190 million square feet of space. Simon does some of its growth
People like famed physicist Stephen Hawking and Tesla's Elon Musk have issued dark warnings of a world where computers become so sophisticated, so quickly, that humanity loses control of them—and its own destiny as a result. Yet Peter Norvig, a leading artificial intelligence scientist and a director of research at Google, thinks that's far-fetched. "I don't buy into the killer robot [theory]," he told CNBC this week. The real worry is how to prepare for the mass elimination of jobs that is surely coming, he said. "I certainly see that there will be disruptions in employment … we've already seen a lot of change, that's going to continue," Norvig said in an interview, before a lecture on machine
By Allison Lampert and Alwyn Scott MONTREAL/NEW YORK (Reuters) - Canada's Bombardier Inc hit back on Friday at rival U.S. planemaker Boeing Co's claim that it sold jets well below cost to win market share in the United States, the latest sign of increasing trade tensions between the two countries. The risk of the United States imposing a tariff, which would likely depress sales of Bombardier's newest jet, and concern over how big that tariff might be, unsettled investors, sending the Canadian company's shares down just over 4 percent. Boeing wants the U.S. government to investigate what it describes as rock-bottom prices for Bombardier's new CSeries aircraft, including an "absurdly low" sum of $19.6 million it says Delta Air Lines Inc paid for a jet costing $33 million to build.
Elizabeth Warren and Bernie Sanders are not happy about reports that former President Barack Obama will be paid $400,000 to speak at a September health care conference put on by the Wall Street firm Cantor Fitzgerald. Sanders' distrust of politicians receiving what he considers exorbitant paychecks for speaking to major investment banks is well known.
What is your deciding factor when you choose a dividend stock? No doubt the factor that immediately comes to mind is the current yield – a stock yielding a high dividend is definitely attractive in terms of income potential. But buying a dividend stock based solely on its yield can be dangerous. Not all high-yield stocks are safe. To protect ones self, the yield-seeking investors needs to look for stocks that not only offer high yields but also have strong dividend growth potential that can support those yields. That's what makes high-yield Brookfield infrastructure Partners (NYSE:BIP), Welltower Inc (NYSE:HCN), and AES Corp (NYSE:AES) such great dividend stocks. Brookfield Infrastructure Partners:
It has been a rough few weeks for United Airlines, as the company probably wishes nothing more than to erase its recent mishaps, including the latest one involving questions over the death of a giant rabbit aboard one of their flights. This comes as the airline struggled to shake off an episode earlier this month in which a medical doctor, David Dao, was violently dragged off another flight at the Chicago Airport. The airline deserves a closer look at its broader business operations.
After a run of strong sales growth during 2014 and 2015, J.C. Penney (NYSE:JCP) got caught up in the broader department-store slump last year. Comparable-store sales were flat in fiscal 2016. That was far better than the industry average, but it still represented a big step down relative to J.C. Penney's 4.4% comp sales increase in 2014 and its 4.5% increase in 2015. Management also has a very cautious outlook for 2017, with guidance calling for another year of flattish comp sales. Investors have punished the stock greatly for this sales slowdown. In fact, J.C. Penney stock hit a new multi-decade low of $5.40 on Thursday. Yet from a long-term perspective, J.C. Penney has one big thing going for
Comedian Hasan Minhaj of Comedy Central’s “Daily Show” riffed on President Donald Trump’s absence from the annual White House Correspondents Association Dinner on Saturday. Trump is the first president in 30 years to miss the event. Photo: Getty
US consumer debt is approaching a record 20% of GDP, and millennials owe most of it. Millennials — 21 to 34-year-olds — hold an estimated $1.1 trillion of the country's $3.6 trillion in consumer debt, according to UBS, as rising student and auto loans outweigh a drop in mortgages. There is already evidence that millennials are changing their spending habits on smaller items where, according to Lindsay Drucker Mann of Goldman Sachs Research, millennials are willing to search for the lowest price on an item or patiently wait for the right deal to pop up.
French pharma giant Sanofi has been trying its best to snap up assets in the face of falling sales and competition for its flagship diabetes drug franchise. On Thursday, a number of tea leaves surfaced suggesting the firm may have rare disease specialist Sarepta Therapeutics in its crosshairs. Sarepta chief Ed Kaye announced that he’ll be stepping down from his perch (while remaining a Sarepta board member and director).
Apple is refusing to pay any royalties owed to mobile chip maker Qualcomm for some of the features in the iPhone, escalating a patent feud that has turned the former business partners into bitter adversaries. The latest twist in the dispute represents a major blow for Qualcomm, which depends on licensing fees for a large portion of its revenue. Apple's decision to withhold royalties will cost Qualcomm up to $500 million in the current quarter alone, based on revised revenue estimates that Qualcomm released Friday.
What happened Last year was a brutal one for refiners as surging compliance costs and shrinking margins cut deeply into earnings. However, industry conditions appear to be on the upswing in 2017, evidenced by the expectation-thrashing first-quarter reports from Valero Energy (NYSE:VLO), Phillips 66 (NYSE:PSX), and CVR Refining (NYSE:CVRR). Those results not only fueled rallies for those refiners, but according to data from S&P Global Market Intelligence, independent refiners Alon USA Energy (NYSE:ALJ) and PBF Energy (NYSE:PBF) got a big boost from the results as well because investors expect the same when they report next month. Valero kicked off the earnings season for the segment, reporting
With the launch of high-end and mainstream Ryzen CPUs in the rearview mirror, Advanced Micro Devices (NASDAQ: AMD) will report its first-quarter results after the market closes on May 1. Ryzen 7, AMD's attempt to compete with the best of Intel, became available on March 2, while the mainstream Ryzen 5 launched after the close of the first quarter. Beyond CPUs, AMD refreshed its mainstream Polaris GPU line in April, and it plans to roll out its high-end Vega GPUs and Naples server CPUs sometime during the second quarter.
Wells Fargo (WFC) placed Chip Flannagan, the head of its Chicago wealth management operations, on suspension pending an internal probe, Crain's reported, though the reason for the probe was not known. However, there were no indications that the probe is related to the retail banking account fraud scandal that has embroiled the company in recent months. Flannagan along with senior VP's Scott Landau and J. Scott Voig were also placed on suspension. Wells Fargo shares closed trading down 1.1% to $53.84 Friday. Editior's note: story has been updated since 3:32 pm EST (What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four
Output in China's factories and mines continued to expand in April but at a slower pace than in the previous month. The purchasing manager's index (PMI) was 51.2 in April, the National Bureau of Statistics (NBS) said, down from a near five-year high of 51.8 in March. A figure above 50 shows growth in the sector, a key driver of wider growth in the world's second biggest economy. The first quarter of 2017 has seen an acceleration in China's GDP growth as well as a rebound in retail spending. Robust trade data has also helped ease concerns about the strength of the economy following last year's slowdown. "Although the PMI has dropped slightly, we can also see the steady accumulation of positive
As the busiest week of earnings season came to a close, Jim Cramer breathed a sigh of relief despite Friday's mild pullback caused by a weaker-than-expected GDP number. Advanced Micro Devices: After shares of competitor Intel slid on its earnings miss on Thursday, Cramer is unsure that even the best of earnings reports from this chipmaker will garner a positive market reaction. "As I have repeatedly said, there is nothing wrong with the company AMD," Cramer said. Cardinal Health: Once the health care services company reports earnings, Cramer thinks investors will start to notice its monumental acquisition of part of Medtronic's business, which will make it a more streamlined hospital supplier.
Excess crude oil inventories in the U.S. are finally and clearly in retreat as OPEC's output agreement nears the end of its fourth month. But those oil bulls looking for higher prices shouldn't get too excited just yet -- the surplus may just be moving elsewhere. True, the crude stockpile fell in each of the first three weeks of April, and the 3.64 million-barrel decline in the last of those was the biggest weekly drop of the year, according to the Energy Information Administration. Over the period, inventories were drawn down at an average rate of 326,000 barrels a day, and a further 63,000 barrels a day have been drawn from the Strategic Petroleum Reserve (SPR) as part of a program of sales
The U.S. government is investigating whether General Motors should add about 312,000 vehicles to a 2015 recall for headlights that can suddenly go dark. The National Highway Traffic Safety Administration says 128 owners have complained that low-beam lights can fail. At the time of the recall GM said the headlamp module in the engine compartment could overheat and stop working properly.
If you had invested $10,000 in three select biotech stocks three years ago, you'd now have nearly $98,000. Which three biotech stocks would have made this accomplishment possible? Celgene (NASDAQ:CELG), Jazz Pharmaceuticals (NASDAQ:JAZZ), and Vertex Pharmaceuticals (NASDAQ:VRTX). Despite each of these stocks more than tripling in value during the past three years, they're all still great picks for investors. Here's why Celgene, Jazz, and Vertex remain top biotech stocks to buy now. Celgene: Winning on multiple fronts The hottest thing going for Celgene right now is Otezla. Sales for the psoriasis and psoriatic arthritis drug more than doubled in 2016 to top the $1 billion mark. This success story