David Lutz of Stifel Nicolaus discusses his market outlook and has a warning for investors this Fall.
David Lutz of Stifel Nicolaus discusses his market outlook and has a warning for investors this Fall.
Don't get lulled into thinking the major market selloff on Tuesday was a one-off. Without question, the fact stocks didn't fall through a trap door on Wednesday was a feather in the caps of the bulls. All the elements were in place for a follow-through plunge: a vicious, cowardly attack out front of the U.K. Parliament, rising fears on the Trump/Ryan healthcare bill passing and a growing number of forecasters coming out from under their rocks to proclaim the bull market is about to die. Not helping matters was a continued drumbeat of retail death stories such as Payless possibly closing 500 stores, Bebe (BEBE) on the verge of shuttering 170 stores and Sears Holdings' (SHLD) CFO spreading #fakenews
Maybe you also followed this story. Or maybe not. But basically a really big hedge fund manager, one of those guys who people quote and probably talk about at Harvard Business School, placed a super big bet on this company called Valeant.Valeant is a
Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead. As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern." For those clickbait-loving headline writers out there with no financial services training: what Sears essentially said is that yes, it's unsure if it could stay in business. Well, duh. Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in
After spending much of 2016 near multiyear lows, oil prices began to rally in late November as it became clear that OPEC would finally cut production to address a long-standing oil glut. On Nov. 30, the cartel officially announced that its members would cut their production by 1.2 million barrels per day, while non-OPEC members would reduce production by an additional 600,000 barrels per day. In the past, OPEC's attempts to manage oil prices have often been undermined by "cheating" within the cartel.
By Ian Ransom MELBOURNE (Reuters) - Mercedes' three-year domination of Formula One looked on shaky ground on Sunday as the Silver Arrows' confidence was rocked by Ferrari pace and a Sebastian Vettel victory in the season-opening Australian Grand Prix. Bookmakers had pole-sitter Lewis Hamilton as a heavy favourite to win at Albert Park but the Briton finished runner-up, nearly 10 seconds behind Vettel after complaining of poor grip on the lakeside circuit. Hamilton's frustrations were shared in the team garage where Mercedes motorsport head Toto Wolff pounded his fist on a desk in rage after Vettel snuck in front of the Briton when re-joining the race from a pit-stop.
It's always best to have a sense of how much income tax you'll owe. But with ever-changing tax laws, it can be hard to predict exactly what your 2017 taxes will look like. Still, by being aware of the probable alternatives, you can estimate fairly well what range of tax liability you're most likely to owe. Given proposals currently on the table, middle-class households earning $75,000 are at the epicenter of tax reform efforts, and they could see considerable impacts from proposed changes. What a $75,000 earner would pay in taxes in 2016 As a starting point, it's useful to look at how much someone earning $75,000 would pay in taxes on their 2016 tax return. Because different taxpayers have different
Kudos to Sears Holdings Corp. (SHLD) for finally admitting what everyone already knew: it's almost dead. As TheStreet broke the news on Twitter Tuesday evening, Sears indicated in its newly filed annual report that "substantial doubt exists related to the company's ability to continue as a going concern." Sears' cash position has melted from a high point of $1.7 billion for the 2009 calendar year to a mere $286 million to close out 2016. Revenue hasn't grown since the credit boom lifted all ships in retail in 2006. The company hasn't generated cash flow from its operations since 2006. "With negative news like this, it's never good for confidence on the company," Moody's VP Christina Boni told
Broadly speaking, moving averages are used by technical strategists to help to judge if short-term and long-term directional momentum in a security is intact. Right now, the VIX, also known as Wall Street’s fear gauge is creeping toward the long-term average, which suggests that it could attempt a firmer breakout, in the parlance of chart watchers. To be sure, the VIX remains well below its historical average of 20, but the gauge is a sign of how much investors are demanding to pay for protection 30 days in the future for price swings in the S&P 500 index (^GSPC).
Today I’m bringing you a round of good news … and a round of bad news. The good? So far, this year’s been better than last for dividend hounds (like us) hoping to dodge a nasty payout cut. According to Standard & Poor’s, 85 American companies cut their payouts in January and February. That’s still a big number, but it’s down sharply from 119 in the first two months of 2016. That’s partly because we’re another year out from the oil crash, and the first two months of 2016 saw some big cuts in the sector. ConocoPhillips (COP), for example, dropped its first cut in 25 years—to the tune of 67%—on shareholders, while Precision Drilling (PD) tossed its payout entirely. The bad news? Just because the
Qualcomm prevented Samsung Electronics, its biggest client for Snapdragon chip-sets, from selling its own Exynos counterpart to third-parties, South Korea's Fair Trade Commission claimed. The commission said Samsung was prevented from selling its own mobile chip-set to other vendors besides its own through a patent licensing deal with Qualcomm. The US chip giant's patents fall under standard essential patents that must be licensed in fair terms, according to the trade watchdog, which announced an $865 million fine against Qualcomm in December for patent abuse. Qualcomm has appealed against the decision and last month filed suit to an administrative court asking a reversal of the decision.
This weekend's Barron's takes a look at a long-suffering media company poised for a turnaround. Other featured articles offer the prospects for a solar power outfit with a strong balance sheet and a lender in a sweet spot of high growth. The outlooks for a chip maker riding a tailwind and a consumer electronics giant with a respectable dividend yield are also examined.
Mar.26 -- Oil rose after OPEC and its allies voiced support to extend past June their deal to jointly cut output aimed at reducing global inventories. Bloomberg's Yousef Gamal El-Din reports on "Bloomberg Daybreak: Asia."
I’m Professor and Chair of the Department of Economics at LIU Post in New York. I also teach at Columbia University. I’ve published several articles in professional journals and magazines, including Barron’s, The New York Times, Japan Times, Newsday, Plain Dealer, Edge Singapore, European Management Review, Management International Review, and Journal of Risk and Insurance. I’ve have also published several books, including Collective Entrepreneurship, The Ten Golden Rules, WOM and Buzz Marketing, Business Strategy in a Semiglobal Economy, China’s Challenge: Imitation or Innovation in International Business, and New Emerging Japanese Economy: Opportunity and Strategy for World Business. I’ve traveled
Political uncertainties aside, the future is looking bright for the biotech industry. Acadia Pharmaceuticals (NASDAQ:ACAD), Regeneron Pharmaceuticals (NASDAQ:REGN), and Eagle Pharmaceuticals (NASDAQ:EGRX), in particular, all appear primed for prosperity. Here's a closer look at why all three companies could be great investment candidates. A market all to itself Acadia Pharmaceuticals has been a home run stock over the last few years thanks to investor enthusiasm around its drug Nuplazid. Nuplazid is the first and only Food and Drug Administration-approved treatment for Parkinson's disease psychosis, or PDP, a condition that causes hallucinations and delusions. Since caring for the patients who
Is a stock market pullback on the way? Maybe. And even if not now, it's inevitable that the market will take a breather at some point in the future. Smart investors will be ready to take advantage of a market pullback, whenever it comes and offers discount prices on great stocks. Three drug stocks appear to be excellent choices to buy on a dip: AbbVie (NYSE:ABBV), Allergan (NYSE:AGN), and Celgene (NASDAQ:CELG). Here's why. AbbVie: A dividend hunter's dream AbbVie is already inexpensive, with shares trading at only 10 times expected earnings. If the overall market drops and pulls the biotech stock down with it, AbbVie will be an even more attractive buy. One nice benefit of scooping up AbbVie
Many homeowners look to refinance so they can take advantage of more attractive interest rates. In a nutshell, refinancing is the process of exchanging your current mortgage for a new one, typically with a better interest rate. The goal of refinancing is usually to lower one's monthly payments, though some people refinance to change the length of their loans -- a move that won't necessarily reduce your payments (such as moving from a 30-year loan to a 15-year loan), but will leave you liable for fewer payments over time. Though refinancing can be a wise move for some people, it's not always the best way to go. Here are three reasons to think twice before refinancing a mortgage today. 1. You're
After markets closed on Friday, Exxon Mobil Corp. (XOM) announced that the company had received notice of an unsolicited mini-tender offer by TRC Capital to purchase up to 2 million shares (approximately 0.05% of shares outstanding) at a purchase price of $78 per share. If an investor tenders shares in this offer, TRC Capital gains about 4.6% over the offer price and may resell the shares for a tidy profit. The tender offer for Exxon shares expires at one minute after midnight on April 11, 2017, but TRC Capital may extend the offering period.
Katie Jacobs Stanton knows how to create her own options. Stanton, a veteran of Twitter, Google, Yahoo and a presidential administration, now serves as chief marketing officer of genetic testing startup Color Genomics. Her professional journey from East Coast to West, and back and forth again, has given her rare insight into the workplace cultures that shape us today. For its podcast, Fortt Knox sat down with Stanton to talk about the environment for women in tech, and her journey to the executive ranks in Silicon Valley. Here are some key lessons from our conversation: Move Around Stanton is from New York, went to college in Tennessee, ditched the East Coast for Silicon Valley in her 20s, and
CAIRO (Reuters) - Egypt attracted $3.1 billion of foreign investment in domestic debt instruments since the flotation of the pound in November up until mid-March, Deputy Finance Minister Ahmed Kojak told Reuters on Sunday. Kojak said the
Farmers, supermarkets and food suppliers have called on Theresa May to secure a free trade deal with the European Union after Brexit. Industry bosses said failure to do so could harm the UK's supply of food and drink and lead to higher prices. The National Farmers Union (NFU), the Food and Drink Federation (FDF) and the British Retail Consortium (BRC) made the call in a joint letter. Separately, the EEF engineering group said a deal needed to be struck. Terry Scuoler, the chief executive of the EEF, said: "The EU is our sector's single biggest trading partner in a complex, tightly interwoven trading environment." He told the BBC that falling back on World Trade Organization (WTO) rules would
“If you’re not growing, you’re dying” is a well-worn phrase slathered all over the business and investment world, for good reason: It’s true. And it strikes a particularly loud chord when it comes to dividend investing. If your retirement portfolio is full of stocks that are paying the same dividend they did years ago, then, you’re certainly losing the war with inflation, and your nest egg probably isn’t performing to its full potential. But if your retirement portfolio is stuffed full of companies like the five dividend growers I’ll share with you today, then you’ll stay ahead of the pack, year after year. The easiest way to understand the importance of dividend growth is to simply look at inflation.
Prices of gold futures jumped 0.7% on Monday morning in Asia hours as the U.S. Dollar Index fell another 0.4%, hovering near two-month low. Even though the Federal Reserve hiked its benchmark interest rate this month, it was seen as a dovish hike. In addition, does it make sense that the U.S. dollar should be seen as a global reserve currency? China and Russia are certainly eager to diversify away. EverBank World Markets’ Mike Meyer wrote: In recent years, the BRICS countries – Brazil, Russia, India, China and South Africa – have been taking small steps to reduce the primacy of the dollar in international trade. China has been leading this effort in recent years. I recently came across this headline
Following the announced appointment of Halliburton's (HAL) CFO Mark McCollum to the post of CEO at Weatherford International (WFT) , it's no surprise that at least one analyst is speculating an often talked about merger between the two companies could be on the horizon. But that speculation seems off the mark. To be sure, Halliburton can't sit idly by forever while its competitors make strategic moves to diversify and bulk operations. A recently announced tie-up with General Electric's (GE) oil and gas unit will see Baker Hughes (BHI) leapfrog Halliburton as the world's second-largest oilfield services provider. And industry front-runner Schlumberger (SLB) has not let off the gas during
Asia markets were mostly lower amid rising doubts over U.S. President Donald Trump's ability to pass legislative reforms after Republican leaders pulled a bill to overhaul the U.S. health care system. "The risk that markets are confronted with is one of Trump's deal-making claims succumbing to policy paralysis on Capitol Hill," explained Vishnu Varathan, senior economist at Mizuho Bank, in a Monday note. The dollar weakened from a high of 100.00 seen last Friday to around 99.295 against a basket of currencies, at a near two-month low. Spot gold, viewed as a safe-haven asset, was trading higher at $1,258.35 an ounce, at a multi-month high. Japanese benchmark Nikkei 225 dropped 1.44 percent or