In case you missed it, Sears announced it was pushing out a debt maturity from 2018 to 2019. All in, it's a huge sign that Sears could be hanging "going out-of-business" signs in many more stores in 2018. Sears stock tanked almost 6% on Tuesday as the plans were likely leaked (this stuff is always leaked) -- it would be shocking if the stock doesn't dive again Wednesday.
The Senate is reportedly working on a draft of a house financing reform bill that could have huge implications for Fannie Mae and Freddie Mac. Since 2012, all of Fannie and Freddie's profits have been turned over to the government under the terms of their bailouts during the financial crisis. The good news for Fannie and Freddie started in May when Federal Housing Finance Agency director Mel Watt said it would be irresponsible to keep the two government-sponsored entities under government conservatorship without recapitalizing them to provide a cushion in the event of another housing market downturn.
Chicago-based Boeing (NYSE: BA) has operations around the country. Here are other recent stories reported by The Business Journals. The Trump effect could give Boeing an edge over Airbus in the fight for Delta's big jet deal Boeing may have gained an edge over Airbus as the jet makers battle for a Delta Air Lines order of up to 100 single-aisle jets, thanks to the Trump effect, an aerospace analyst said Monday. (Puget Sound Business Journal) Boeing tea leaves signal more potential Wichita-boosting plans News surrounding the Boeing Co. is sending up more signs that a passenger version of its 767 model might be nearing a restart, a move that would drive additional work in Wichita in the future. (Wichita
A recent surge in Litecoin price shows that investors are beginning to catch on this digital currency as an alternative to Bitcoin. While it has remained the dominant player and continues to be largest digital currency by share of market cap but Bitcoin is losing some ground to other digital currencies on questions of mining efficiencies as well as how expensive it is now to buy. Here are some reasons why Litecoin may prove to be a better investment than Bitcoin in the future. Like Bitcoin, But Improved Litecoin is often compared to Bitcoin, and for good reason: the two digital currencies are closely related, with Litecoin having been heavily influenced by its older peer when it was developed
LOL: First story I read Tuesday wasn't about the dollar ahead of the Federal Reserve meeting, oil prices spiking to $65 a barrel or a key policy proposal for el Presidente Trump. Nope, it was about cryptocurrency litecoin. Over the past 24 hours, litecoin has exploded roughly 67% to $250 as interest in bitcoin futures casts a halo throughout the cryptocurrency realm. Litecoin's market cap: $13.1 billion at last check. That's nowhere near bitcoin's almost $300 billion, but still worth more than Sears (SHLD) ($459 million) and impressive in the grand scheme of things. Wondering what litecoin is? It's described as being a lightweight alternative to bitcoin. Whatever that means ... Quick take on
Shares of Nvidia Corp. ( NVDA) have had a rough couple of weeks, with a stock that has fallen by nearly 11.5% since November 24, while the S&P 500 has risen by almost 2.5%. To be fair, the iShares PHLX Semiconductor ETF ( SOXX) has fallen by nearly 7.5%.
could get an opening bell boost Wednesday after analysts at Deutsche Bank initiated coverage of the Boston-based biotech with a "buy" rating and a price target of $175. The group, which unveiled positive data from its Phase 1 and Phase 2 studies of three different triple combination regimens in people with cystic fibrosis earlier this year, may also be a takeover target if U.S. lawmakers pass a tax reform bill before the end of the year, Deutsche Bank said. "Vertex has developed a potential (crica) $9 billion CF franchise that will be extremely challenging to displace," Deutsche Bank wrote.
I first invested $5,000 in bitcoin back in 2013 at $72 per coin and now own approximately 69.2 bitcoins. While I had first heard about bitcoin in 2011, it wasn't until I watched a documentary and started reading forums about the cryptocurrency that I decided to buy it. It was easy to see how bitcoin could disrupt the entire financial system. I decided to buy as a long-term experiment and used less than 1 percent of my net worth at the time to buy into bitcoin. Sure, I wanted to make money on it, but if I lost everything, it wasn't going to change the course of my life. As of this writing, bitcoin is trading at $16,600, which makes my bitcoins now worth $1,148,720. It took me five years working
A day after his agency intervened to halt an initial coin offering (ICO) sale, the Securities and Exchange Commission (SEC) chairman, Jay Clayton, issued a note urging investors in cryptocurrencies and ICOs to exercise caution and “ask good questions, demand clear answers and apply good common sense” while investing in the instruments. Clayton also included a list of questions that could help investors make informed decisions. Digital currencies remain outside the SEC's purview but it has issued advisories regarding ICOs in the past. This is the first time the SEC chairman has released a note on cryptocurrencies and ICOs. His statement could be taken as a sign that the agency might soon play
World Wrestling Entertainment, Inc. WWE, which belongs to the aforementioned industry, has benefited from the trend with the stock gaining 39.2%. Stocks such as IMAX Corporation IMAX, Twenty-First Century Fox, Inc. FOXA and Lions Gate Entertainment Corp. LGF.A, have also witness upsides of 20%, 26.6% and 3.4%, respectively. The company’s record revenues primarily came on the back of substantial increase in revenues in North America, Europe/Middle East/Africa (“EMEA”) and gain in WWE Network’s total subscriber base.
CNBC's Steve Liesman reports the results of the CNBC Fed Survey, including respondents' answers about bitcoin.
Bitcoin hit a new all-time high on Monday. The cryptocurrency has soared over the last two years, and regular Americans have started to get interested. Some people have reportedly taken out mortgages to buy Bitcoin, while others are paying for the cryptocurrency with their credit cards, according to CNBC.
Commodities will bring better returns than other assets in the long run, according to Goldman Sachs Group Inc. Strong global demand growth across raw materials reinforces the case for owning them, the bank said in a Dec. 11 report, maintaining its 12-month overweight recommendation on commodities. Goldman sees returns of 10 percent in 2018, driven by a market structure known as backwardation that’ll lead to a positive roll yield -- when investors sell more-valuable, expiring contracts at the end of each month and buy less-expensive futures in order to maintain their exposure.
Coinbase, the leading U.S. platform for buying and selling major digital currencies, said twice on Tuesday that transactions in ethereum (Exchange: ETH=) were "temporarily disabled." In the morning New York time, Coinbase said buys and sells of ethereum and litecoin were temporarily disabled. Earlier, a spokesperson for Coinbase said in a statement that "the site is seeing high traffic volume at the moment and some users may be experiencing intermittent service outages." Ethereum seven-day performance Source: CoinMarketCap Coinbase's GDAX exchange website also said there is a "partially degraded service," as of 2:38 p.m. Ethereum briefly surged more than 23 percent Tuesday to a record high of $637.62, according to CoinMarketCap.
Bitfinex, the world's largest digital currency exchange, shut down services Tuesday. Dec. 12, amid a so-called denial of service attack that is increasing concerns over the safety and security of bitcoin trading. Hong Kong-based Bitfinex said the attempted attack, the second in as many weeks, was ongoing and that it was working on solutions to migrate trading traffic in order to protect client orders. Distributed Denial of Service, or DDOS attacks, occur when hackers attempt to overwhelm systems with surges of activity from other systems, often via bots, with the aim of controlling them from within or extracting a ransom payment to cease the disruption. We are currently under heavy DDOS. API
Swedish payments company iZettle AB is said to be open to a sale as an alternative to preparing for an initial public offering, in a so-called dual-track process, according to a person familiar with the company's plans. The company, which provides terminals that allow small businesses to easily take card payments and also offers financial services, announced Wednesday that it has raised 40 million euros ($47 million) to fund growth. The round was led by existing investor Dawn and the Fourth Swedish National Pension Fund.
The major U.S. stock indexes finished mostly higher Wednesday, with small companies notching big gains as lawmakers in the House and Senate reached a deal on a sweeping tax reform package. The Dow Jones industrial average eked out its third record-high close in as many days, driven by a jump in Caterpillar. The decline in financial stocks came even as the Federal Reserve raised its benchmark rate for the third time this year.
Monsanto Co will give cash back to U.S. farmers who buy a weed killer that has been linked to widespread crop damage, offering an incentive to apply its product even as regulators in several U.S. states weigh restrictions on its use. The incentive to use XtendiMax with VaporGrip, a herbicide based on a chemical known as dicamba, could refund farmers over half the sticker price of the product in 2018 if they spray it on soybeans Monsanto engineered to resist the weed killer, according to company data. The United States faced an agricultural crisis this year caused by new formulations of dicamba-based herbicides, which farmers and weed experts say harmed crops because they evaporated and drifted away from where they were sprayed.
DoubleLine CEO Jeffrey Gundlach said Wednesday on CNBC's " Halftime Report " that his best investment idea for the new year is commodities. "I think investors should add commodities to their portfolios," Gundlach said. Gundlach is the CEO of DoubleLine, which manages more than $100 billion from Los Angeles.
In 2017, Wal-Mart Stores Inc (NYSE: WMT) has proven that there's plenty of room for two e-commerce giants to thrive in the U.S. market. According to Stifel analyst Scott Devitt, there's no need for U.S. investors to pick between Alibaba Group Holding
is giving investors a painful reminder in 2017 that a great company can be an awful stock. Without a doubt, GE is an industrial powerhouse. GE has been a truly awful stock all year long, shedding more than 43% of its market value in the last 11 months, all while missing out on a near-20% broad market rally over that same timeframe.
If your vision for retirement was basking in a tropical paradise, let’s hope your vision of tropical paradise resembles something more like Mississippi and less like Hawaii. Data analysis site HowMuch analyzed how far $1 million goes in retirement in every U.S. state.
The fascination with virtual currencies feels more like a "speculative mania", the head of Australia's central bank said on Wednesday, just days after the launch of the world's first bitcoin futures. Cryptocurrency bitcoin surged past $17,000 on Tuesday to an all-time high, two days after futures trading began on Chicago-based derivatives exchange CBOE Global Markets.
Asia’s fiscal discipline, China’s Treasuries retreat, and bitcoin hacks. Here are some of the things people in markets are talking about. Governments across Asia are keeping a wary eye on fiscal deficits and surging debt, providing only a modest cushion as central banks slowly begin raising interest rates. China and Japan, the world’s second and third-largest economies, are treading cautiously by attempting to control government spending rather than unleash new stimulus.