MARKET PULSE Intuitive Surgical Inc. (isrg) shares rose in the extended session Thursday after the surgical robotics company topped Wall Street estimates for the quarter. Intuitive Surgical shares rose 2.4% after hours, following a
When the media and investors turn negative on stocks but the “smart money” is bullish, it’s a good time to think about buying. After all, exactly what is the smart money, and how do you know? Lately, several fund managers who pass this test have been pounding the table on Chinese internet names.
"Tech's been overpriced for a while," ICM Asset Management Senior Research Analyst Michael Finkel, told Real Money. "Microsoft trades with a trailing PE of 29 and is growing its earnings at around 12%-15% year over year," James "Rev Shark" DePorre reasoned in his take on the tech dilemma.
Micron Technology Inc. said late Thursday it plans to buy out Intel Corp.’s share of a flash memory joint venture that the two chip makers have participated in for more than a decade. Micron (MU) agreed to pay Intel $1.5 billion for its stake of their IM Flash Technologies joint venture, and expects to close the deal in six to 12 months after it is able to exercise call options on Jan. 1. On a conference call, Chief Financial Officer Dave Zinsner said Micron will pay for the buyout from free cash flow while continuing with its plan to buy back its own shares.
CNBC's 'Squawk on the Street' team discusses why Jim Cramer is bullish on FAANG stocks.
Canadian marijuana company Aurora Cannabis Inc.’s shares rose about 4% Thursday after it said shares have been approved for trading on the New York Stock Exchange starting October 23. The stock (CA:ACB)(CA:ACB) which is currently trading on the over-the-counter market, will trade under the ticker symbol “ACB”. The shares are also traded on the Toronto Stock Exchange.
U.S. Treasury Secretary Steven Mnuchin tweeted Thursday that he will not be attending the Future Investment Initiative in Saudi Arabia next week. The news comes after prominent members of the world’s business community have been dropping out of Saudi
Sometimes identifying the best stocks to buy can be difficult, but you could do a lot worse than checking out the stocks selected by one of the world’s savviest hedge fund managers — Warren Buffett. Buffett’s stock picks are a popular source for investors, and for good reason. The billionaire Buffett is many things: He’s among the world’s most successful fund managers, a legendary philanthropist and owns more than 60 companies.
The midterm elections are less than three weeks away. According to strategists at Barclays, the options market is pricing in a 1.6% swing on election night, a modest swing given the recent volatility we’ve seen in the stock market.
Walmart Inc. has found a new way to save millions of dollars: Switch the floor wax it uses in its stores. According to the retail giant’s Chief Financial Officer Brett Biggs, Walmart (WMT) switched to a new floor wax that’s both cheaper and more effective, reducing the number of times the floors have to be buffed. “That one change in floor wax will save us over $20 million a year,” he said, according to a FactSet transcript of the company’s Tuesday investment community meeting.
U.S. stocks are lower about 70 percent of the time in periods when there are big drops of 10 percent or more in Shanghai stocks, according to analytics firm Kensho. The main U.S. indexes lose about 5 percent when Shanghai stocks fall 10 percent or more in a 30-day period. Big blue chips, like Goldman and Caterpillar are among the losers, but copper and oil also fall hard when Shanghai sees a big decline.
In many respects, the top tobacco stocks defy logic. The Surgeon General’s Office released their report warning about the dangers of tobacco in 1964. Despite a sustained anti-smoking crusade, tobacco stocks continued marching higher.
Pfizer is offering U.S. employees early retirement ahead of company cuts that will hit around 2% of its 90,000 workers worldwide, CNBC reports. In an internal message to employees Tuesday, the company said the layoffs are a part of restructuring that aims to “simplify the organization to avoid duplication, create single points of accountability and reduce the number of layers within teams,” the New York Business Journal reports. “As we prepare for growth we are creating a simpler more efficient structure which will affect some managerial roles and responsibilities,” a Pfizer spokeswoman told CBNC.
FM trader Tim Seymour takes on the Tilray CEO, Brendan Kennedy. A breakdown of the marijuana madness, with CNBC's Dirdre Bosa and Melissa Lee, and the Fast Money traders, Pete Najarian, Dan Nathan and Guy Adami.
Beth Comstock is the former vice chair of General Electric. Comstock would hand out "permission slips" authorizing employees to take risks — but she also said it's important for people to stop hiding behind their excuses. Beth Comstock doesn't tolerate excuses.
This year has been an undeniably good one for Advanced Micro Devices (NASDAQ:AMD) shareholders. The AMD stock price is up 165% year-to-date, and seems to be dealing with recent headwinds relatively well. Although the turnaround is real, the market’s valuation of AMD stock has been exceedingly generous.
The CEO of the London Stock Exchange has been courting the Saudi Kingdom to lure the IPO of Saudi Aramco, the country's state-run oil company. Unfortunately, London really needs a deal of that size to shore up its post-Brexit reputation. The Saudis say they want to place their IPO in 2020 or early 2021.
RBC Capital Markets, Wolfe Research, and (BCS) all upgraded the shares this month after Larry Culp was named to replace John Flannery at the helm. Today, the Financial Times reported that GE Power was going to win a contract in Iraq over rival (SIE) (SIEGY). Wolfe analyst Nigel Coe wrote that could help turn investor sentiment on GE, noting that the struggles in GE Power are what drives most of the negative feelings toward the stock.
Inversion is a mental model that involves flipping your outlook to prevent the opposite of what you want to happen from happening. Warren Buffett and his business partner Charlie Munger employed inversion as a business strategy to build Berkshire Hathaway into a powerhouse. In a recent podcast with Brandon of the Mad Fientist, who retired early at 34, productivity expert James Clear said the same strategy Buffett used can help set someone on the path for early retirement.
Investors will be hoping for strength from BABA as it approaches its next earnings release, which is expected to be November 2, 2018. On that day, BABA is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 10.08%. Investors should also note any recent changes to analyst estimates for BABA.
shares were doing well, up more than 1% after Goldman Sachs analysts placed the stock on its conviction buy list. It's been a bumpy ride for Nvidia this month, as the waves of selling in the broader market have taken their toll. In any regard, Goldman took Nvidia up to conviction buy with a $305 price target.
Berkshire Hathaway Inc.'s ( BRK.B) Class B shares are cheap if you apply the same metrics that its CEO Warren Buffett does to value companies, according to JPMorgan. In a research note, reported on by CNBC, analyst Sarah DeWitt said Berkshire, a company that investors have historically struggled to value properly because of its many moving parts, suddenly appears to be attractively priced when factoring in all the profits made by the stocks held in its $200 billion equity portfolio into its earnings. “Look-through earnings” take into account current period earnings that show up in financial statements, together with other sources of earnings expected in the long run. This method is used by Buffett as a way to appreciate that companies sometimes retain earnings after paying dividends and later invest them at a higher rate of return.
After two consecutive off-the-mark quarters, falling short of its own forecasts for subscriber growth, Netflix Inc. hopes to put an end to the big swings in its stock price with some changes to its accounting. In kicking off tech’s earnings season Tuesday, Netflix (NFLX)reported better-than-expected subscriber growth in the quarter, leading to an 11% jump in its shares in after-hours trading. Three months ago, Netflix reported weaker-than-expected subscriber growth, sending its stock tumbling about 12% in the next trading day.
Shares of Caterpillar Inc. (cat) tumbled 3.9% in afternoon trade, enough to pace the 28 of 30 Dow Jones Industrial Average (djia) components that were declining, after a number of disappointing earnings reports from industrial-sector peers. The SPDR Industrial Select Sector ETF (xli) of which Caterpillar is a component, slumped 1.9% to a 3 1/2-month low, with 68 of 70 equity components losing ground. The biggest loser in the ETF were shares of United Rentals Inc. (uri) which fell 11.7% to a 13-month low after the company beat earnings and revenue expectations, but UBS cut its price target to $180 from $196 citing disappointing rates.
Ford (F) closed the most recent trading day at $8.76, moving -0.45% from the previous trading session. This change lagged the S&P 500's daily loss of 0.03%. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq lost 0.04%.Heading into today,