Suze Orman is one of those singular personalities in the financial business who seems to be right on the pulse of everyone she meets. She’s written books, starred in her own television show and made innumerable appearances in person. Like Oprah
U.S.-listed shares of Canada-based Canopy Growth Corp. soared almost 30% Wednesday, after liquor seller Constellation Brands Inc. said it will invest another CAD $5 billion, or about $4 billion, in the diversified cannabis company. Constellation Brands (STZ) the brewer of Corona beer and distributor of Robert Mondavi wine, said it will increase its stake in Canopy (CGC)(CA:WEED) to 38% from about 10% by buying 104.5 million shares at C$48.60 a share, a 51.2% premium to Tuesday’s closing price of C$32.15, and assuming exercise of existing warrants. The company will also receive additional warrants that if exercised would provide Canopy with an additional C$4.5 billion and give Constellation a stake of more than 50%.
The Dow Jones Industrial Average could be on the verge of a major breakout. Veteran technician Ralph Acampora — often referred to as the 'godfather of technical analysis' — says the blue chip index's charts are flashing two particularly bullish signs heading into autumn. A hammer pattern on a candlestick chart occurs when an index's open, peak and close are nearly the same, while the session low gaps apart from the rest.
Alibaba Group Holding Ltd. dominates online shopping in China, but the company has bigger plans in mind. “We think Alibaba is years ahead of any competitor in driving digital commerce forward,” MKM Partners analyst Rob Sanderson, who rates the stock a buy with a $280 target price, wrote earlier this summer. Alibaba’s investments have weighed on recent results, and the question is whether investors will show patience going forward as the company plays the long game.
Since Venezuela’s state-owned oil company, PDVSA (Petróleos de Venezuela, S.A.) owns the Citgo refineries in the U.S., the companies that had lost billions of dollars of assets should target these refineries for seizure as compensation.
The San Francisco Bay Area's housing market is so bleak, even tech workers are struggling to buy a home there. A survey by Blind found that 59% of employees at Bay Area tech companies said they cannot afford homes. Cisco, eBay, and Intuit had the highest percentage of employees who said home ownership is elusive.
Elon Musk said Thursday his tweet about having “funding secured” to take Tesla Inc. private was only intended to show transparency, and that despite the furor — and SEC investigation — it caused, he has no regrets about posting it. In a wide-ranging interview with the New York Times published Thursday night, Musk chronicled the events leading to that tweet, as well as this year, which he acknowledged has been exceedingly difficult. The Tesla chief executive described a constant state of exhaustion as the company has worked to ramp up production on Model 3 sedans, and said it was taking a toll on him.
What’s it going to take for gold market timers to become so pessimistic that a contrarian buy signal is finally triggered? Consider the average recommended gold market exposure level among a subset of short-term gold market timers (as measured by the Hulbert Gold Newsletter Sentiment Index, or HGNSI). As I have indicated in past columns, previous lows have been accompanied by HGNSI readings at least as low as minus 30%.
Aug.19 -- Jun Bei Liu, a portfolio manager at Sydney-based Tribeca Investment Partners, talks about this week's economic events and her investment strategy. She speaks with Haidi Stroud-Watts and Ramy Inocencio on "Bloomberg Daybreak: Australia."
China wants to steal U.S. secrets and is very good at doing so. “China, from a counterintelligence perspective, represents the broadest, most pervasive, most threatening challenge we face as a country,” FBI Director Christopher Wray told the Aspen Security Forum in July. A recent U.S. government report titled “Foreign Economic Espionage in Cyberspace” indicates how multifaceted China is when it comes to stealing American intellectual property and U.S. government secrets.
The nearly decade long bull market run has made some investors weary of a looming downturn. "The return is less important for what the market is retuning, it's your personal return," Robert Steen, CFP and Advice Director for Retirement and Complex Planning at USAA, told TheStreet. While he said that having ones portfolio be at least 60% in equities is a "rule of thumb," he also recommends for investors who can stomach a little more risk an 80% or 90% equities weighted portfolio.
Fidelity Investments recently announced that it was introducing two index funds with zero annual expenses, while also slashing expenses on its other index funds and dropping the required minimum investment on all funds, both actively managed and indexed. Why is Fidelity doing this? When I started writing about mutual funds in the late 1980s, Fidelity’s swagger bordered on nauseating, as it relentlessly peddled a slew of star fund managers, notably Magellan’s Peter Lynch.
Are you confident in your own retirement planning? Just 18% of Americans — less than one in five — say they are “very confident” in their ability to finance a comfortable retirement. The whole trick to being confident about retirement is matching up those numbers.
A steep downturn in heavyweight Chinese internet stocks and recent weakness in half of the so-called FANG group have some investors worried that a key component of Wall Street's near-decade long rally may be low on fuel. Outstanding gains in Facebook, Amazon, Netflix and Alphabet have underpinned much of the U.S. stock market's rally in recent years, along with the broader tech sector, but the group is widely viewed as overbought and valuations remain expensive. Backed up by strong earnings growth and investor confidence in Silicon Valley's innovation track record, the S&P 500 technology index is up 16 percent in 2018, making tech Wall Street's top performer.
Solar stocks took a beating in the second half of 2015 and throughout 2016, but the sector turned around in 2017. In fact, one exchange-traded fund (ETF) tracking the sector – the Guggenheim Solar ETF ( TAN) – generated impressive returns of over 54% last year. Solar stocks soared in the past due in part to federal tax credits for home solar installation and other incentives to stimulate the industry, but the sector was surprisingly resilient in 2017 despite a presidential administration that does not prioritize renewable energy to the same extent as its predecessor.
nosediving sales to the cryptocurrency mining market are, for now, overshadowing healthier server and gaming GPU trends. After the bell on Thursday, Nvidia reported July quarter (fiscal second quarter) revenue of $3.12 billion and GAAP EPS of $1.76. EPS, benefiting from a lower-than-expected 7% tax rate, beat a $1.67 consensus.
Hackers are using a method known as “SIM swapping” to steal phone numbers and in some cases, use them to take millions of dollars worth of cryptocurrency. This week, a California man sued his wireless carrier AT&T for $224 million after criminals used the method to steal $24 million from an cryptocurrency exchange. “Once hackers get access to your private keys, they own your money and you’re screwed,” says Kyle Samani, managing partner at Multicoin Capital.
Cisco Systems Inc. revenue grew for the third quarter in a row and hit a record, the company revealed Wednesday, and guidance indicated that the networking giant’s return to growth may be more sustainable. Cisco (CSCO) reported better-than-expected fourth-quarter earnings Wednesday, with revenue growth of 6% and a full-year increase of 3% to $49.3 billion. The move toward more of a software-style focus with recurring revenue has hammered Cisco’s revenue growth numbers in the past two years, but the company appears to now be exiting that period and headed toward solid, predictable growth rates.
were cheered by the market as each showed they can successfully take on Amazon online. "When you're looking into retail, it's an industry in flux and with any industry in flux...investors need to really do their homework before getting into the sector," said Christian Magoon, CEO of Amplify ETFs.
Bitcoin Cash slid by 8.5% on Saturday, partially reversing Friday’s 16.77% gain, to end the day at $553.9. A start of a day intraday high $610, which fell short of the first major resistance level at $633.2, was the only bullish move of the day, with Bitcoin Cash sliding through the first major support level at $543.3 to a late afternoon intraday low $533.9, before recovering to $550 levels. At the time of writing, Bitcoin Cash was down 1.63% to $544.8, with momentum from Saturday’s sell-off continuing into the early hours, Bitcoin Cash falling from a start of a day $544.2 high to a morning low $539.7 before recovering to $540 levels.
The Chief Financial Officer of Infosys Ltd has tendered his resignation just seven months after India's second-biggest software services exporter appointed a new Chief Executive Officer. The board of Bengaluru-headquartered Infosys said in a stock exchange filing on Saturday it had accepted the resignation of CFO M.D. Ranganath, appointed to the post in 2015. Ranganath, also known as Ranga, will continue as CFO till Nov. 16 this year, Infosys said, adding that its board will immediately commence the search for a new CFO.
hasn't helped sentiment around Alibaba. Jack Ma's company also provides full-year revenue growth guidance in its reports. Alibaba's report arrives on the morning of Aug. 23, and an earnings call will be held at 7:30 a.m. ET.
Bitcoin fell by 3.08% on Saturday, reversing most of Friday’s 4.06% gain, to end the day at $6,383.3, the day’s losses leaving Bitcoin with just a 1.1% gain for the current week, Monday through Saturday. A start of a day intraday high $6,619.5 came up short of the first major resistance level at $6,679.4, with Bitcoin and the broader market hitting reverse through the morning, Bitcoin sliding through the day’s first major resistance level at $6,376.5 to a late afternoon intraday low $6,300, before recovering. Support at $6,300 saw Bitcoin break back through to $6,400 levels and an afternoon high $6,435.9, though with the bears in control the Friday rally was cut short, with investors continuing to lock in profits on any momentum driven rallies, Friday’s moves having come in spite of no positive news hitting the wires to shift sentiment across the cryptomarket.
The extra boost Nvidia Corp. received from selling its graphics chips to cryptocurrency miners appears to be over, at least for now. Nvidia (NVDA) Chief Financial Officer Colette Kress surprised investors — who had already been anticipating lackluster crypto sales — with an even more downbeat forecast for crypto-mining sales Thursday. Nvidia released second-quarter earnings and noted a shortfall in crypto sales in addition to the forecast.
Bitcoin continues to “lick its wounds” after a devastating correction at the start of the previous week, pushing the total market cap up to $216 against lows at $189 billion, the lowest level since late October 2017. Increased volatility rates and mining on the edge of profitability suppresses activity and provokes pressure for exchange rates. The market critics often blame the second largest cryptocurrency Ethereum (ETH). The rapid growth in the number of ICOs, most of which were conducted on Ethereum basis, turned market participants against the cryptocurrency market.