Wells Fargo (WFC) reported second quarter earnings that beat estimates on the top and bottom lines, in part due to higher profits from non-interest income. The company reported earnings per share of $1.30 on revenue of $21.6 billion, beating the street's estimates of $1.15 in earnings per share on revenue of $20.93 billion. A pause on interest rate hikes led to pressures for the bank on interest income, which fell $216 million quarter-over-quarter to $12.1 billion.
What are some stocks that you can buy or at least get ready to buy, like PepsiCo , if you are of the opinion that the world really is slowing and the Fed can't change the equation? The first is Estee Lauder Companies . Here is a company that is run by one of the best executives I have ever met, Fabrizio Freda, late of Procter & Gamble , who has taken this prestigious brand and made it the most-loved makeup company around the world.
Johnson & Johnson raised its full-year sales forecast as demand for its cancer drugs Darzalex and Imbruvica helped it exceed estimates for second-quarter profit on Tuesday. J&J's pharmaceuticals unit has cushioned impact of slow growth in its medical device and consumer health units, largely due to its cancer drugs, even as some of its older drugs face competition. "We expect questions on the maintained earnings per share guidance but we point to the continued-to-be-improving strength across its franchises despite pharma headwinds," said BMO Capital Markets analyst Joanne Wuensch.
Omar Slim, senior vice president and portfolio manager of fixed income at PineBridge Investments, discusses Fed policy and his outlook for yields. He speaks on “Bloomberg Markets: Asia. Corrects spelling of guest's company name in headline and description.
Here Is Why CrowdStrike Is The Leader CrowdStrike's mission is to protect its customers from breaches. CrowdStrike is a cloud-based cybersecurity company which utilizes crowdsourced data to detect threats and stop breaches. In fact, CrowdStrike boldly asserts that not only is it disrupting legacy operators such as Symantec , but that it's going further and creating a brand new category called Security Cloud.
An overhaul of oil policy that's been in the works for more than a decade is among a raft of laws President Muhammadu Buhari could steer through parliament in his second term to help drive investment in the oil-dependent economy. The delays cost an estimated $15 billion a year in lost funding for the industry over the past decade, according to the Petroleum Ministry. “Expect an improved level of harmony between the National Assembly and the president going forward,” said Luke Ofojebe, an analyst at Lagos-based Vetiva Capital Ltd.
The real estate investment trust, based in San Francisco, said it had funds from operations of $506.4 million, or 77 cents per share, in the period. The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 76 cents per share. Funds from operations is a closely watched measure in the REIT industry.
Speaker of the House Nancy Pelosi recently disclosed that her husband, Paul Pelosi, bought (CRM)com stock options in June. Paul Pelosi, a businessman and investor, paid $150,002 to $350,000 in June for a total of 100 Salesforce (ticker: CRM) call options, according to a regulatory form Speaker Pelosi filed. Each option Paul Pelosi purchased gives him the right to buy one share of the cloud-computing company for $140, and that right expires June 19, 2020.
The oncology drug development space holds “tremendous scarcity value for novel targets, and Atreca Inc's (NASDAQ: BCEL) stock offers an investment opportunity at an attractive valuation, according to Stifel. Stephen Willey initiated coverage of Atreca with a Buy Rating and $28 price target. Atreca has a highly differentiated approach to antibody drug discovery that moves completely away from the biologically or genetically derived hypotheses that are traditionally used to inform target selection, Willey said in a Monday initiation note.
Bitcoin Cash ABC fell back through the third major support level at $304.78. For the bulls, holding above the 62% FIB of $262 was key on the day. At the time of writing, Bitcoin Cash ABC was down 0.07% to $281.24.
Stock futures perked up ahead Tuesday's open, as earnings from Dow Jones stocks JPMorgan, Goldman Sachs and Johnson & Johnson — companies representing more than 11% of the Dow's weighting — set the early tone. Also on Tuesday's docket are congressional appearances by officials from Facebook, Amazon.com and Apple, as well as a half dozen speeches from Federal Reserve officials, including Fed Chairman Jerome Powell. Dow Jones futures rose 0.1%, while Nasdaq and S&P 500 futures held to factional gains.
Nurse practitioners can conduct physical exams, prescribe medications, order medical tests and diagnose health problems. Most nurse practitioners have a master's degree, although some earn a doctor of nursing practice or Ph.D. These advanced-practice registered nurses can command a high median salary of $54.78 per hour. The BLS projects a 31% increase in nurse practitioner positions by 2026.
On average, young Americans ages 15 through 21 expect to be financially independent by the age of 22. Ninety-one percent of parents say they expect those children to be fully financially independent by the age of 25. What was interesting was seeing that roughly half of them have felt that they're falling short of achieving some of those high expectations, and higher financial ambitions,” said Chris Bohlsen, director of strategic planning at Ameritrade.
Neil Beveridge, senior analyst at Sanford C. Bernstein, discusses the value of PetroChina and his outlook for the company. He speaks on “Bloomberg Markets: Asia.
Goldman Sachs Group Inc reported a better-than-expected quarterly profit on Tuesday as the Wall Street investment bank benefited from higher equity trading and an increase in lending to its wealthy clients and companies. The bank, like its rivals, is facing several challenges in growing its revenue in the face of rising geopolitical uncertainties and concerns about the impact of future interest rate cuts by the U.S. Federal Reserve. Goldman is also shifting its business model away from a focus on trading to a more stable, consumer-focused revenue stream.
Plano-based Rent-A-Center Inc. (Nasdaq: RCII) plans to acquire Merchants Preferred for $47.5 million in a deal expected to close in the third quarter, the company announced Monday. The deal for Atlanta-based Merchants Preferred, which provides convenient lease-purchasing services to furniture and appliance merchants, will add an additional 2,500 locations to Rent-A-Center's Acceptance Now platform. The Acceptance Now platform facilitates partnerships with retailers, in addition to allowing customers to set up delivery and creating the opportunity for retailers to buy and lease items to customers. The acquisition will bolster Rent-A-Center's expansion into the virtual rent-to-own space, enhancing its ability to expand into national retail and online partners and creating potential to expand into verticals outside of the home. With its current business, Merchants Preferred targets furniture, bedding, appliance and other dealers.
A 401(k) plan has many benefits for employees who are saving for retirement. It allows them to make salary-reduction contributions on a pretax basis (and also on a post-tax basis in some cases). Employers that offer a 401(k) can make non-elective or matching contributions to the plan, which means more money for employees, and they also have the option to add a profit-sharing feature to the plan.
A simple yet effective way to screen for stocks that are potential buys is to see if the insiders are buying shares after the price has dropped. There are many reasons why a company insider may be motivated to sell their stock, but there is only one reason why an insider would buy it! They believe that it will trade at a higher price where they can make money.
JPMorgan Chase (JPM), the largest U.S. bank by assets, reported earnings for the second quarter on Tuesday that surpassed analysts' expectations, helped by a nearly $800 million tax boost. The bank reported a $768 million income tax benefit that boosted results by 23 cents per share. JPMorgan Chase is the second Wall Street bank to report earnings this week — and the second to beat estimates in the face of a slowing economy.
(KHC) has had a difficult year, to say the least, and after a filing delay, the consumer-package giant is slated to report earnings on Wednesday ahead of the market open. Kraft shares (ticker: KHC) are down 28.7% year to date and 51% in the trailing 12-month period. Not only were results disappointing, but the company announced a dividend cut, a $15.4 billion asset write-down tied to its Kraft and Oscar Mayer brands, and disclosed a Securities and Exchange Commission investigation that predated its previous report in November.
Bank of America has a "buy" rating and $62 price target for DOW stock. Investors punished Ford stock in recent years due to concerns over market competition and a cyclically weak global auto market. Analyst John Murphy recently upgraded Ford and said the company's earnings troubles may finally be in the rearview mirror.
It is currently tracing out a similar pattern so it is possible that JD stock will party it's 2017 starting in the next few weeks, So this is an opportunity that is worth investigating. In June, I shared a note to stay long JD stock as it showed promise, and that paid off well. The stock rallied almost 20% thereafter.
In the latter part of 2018, bearishness took hold of Apple (NASDAQ:AAPL) stock and sent shares to the $150 range as AAPL stock investors took in the news that the company would no longer issue unit sales numbers for its iconic iPhone device. CEO Tim Cook reasoned that subscription and app sales mattered more for profitability. By that logic, Apple could afford to offer less transparency into its business each quarter.
Same-store sales, a key metric for restaurants, grew at a disappointing 3% in the U.S. Consensus estimates were for 4.6% domestic growth during the quarter. The pizza giant reported adjusted earnings per share of $2.19, better-than-expectations for $2.02 adjusted earnings per share. Domino's has been struggling to meet consensus estimates for both domestic and international sales, as competition in the fast-food space continues to heat up.
I'm not much of a Fed watcher (never mind a Fed basher), but in my 35 years of covering the financial markets, I've never been more vexed by what our central bank is up to. The disconnect is this: Fed Chair Jay Powell is strongly signaling he will cut interest rates at the end of the month, and for the life of me I can't figure out why. The way I've always understood it, the Fed is supposed to cut rates when the economy needs a boost.