The Dow Jones Industrial Average notched a dubious distinction on Wednesday, as U.S. equity benchmarks fell firmly lower. The blue-chip benchmark failed to move 10% above the closing low hit earlier in the year, and has now spent the longest period in correction territory — 131 trading sessions — since the 223 sessions in 1961, according to Dow Jones Market Data. Some market-technician purists believe that an asset must put in a new high to officially emerge from correction phase.
A Walmart worker organizes products at a Walmart store in Teterboro, New Jersey, U.S., October 26, 2016. Walmart (WMT) had a blowout quarter and shares are surging. “The Walmart U.S. business delivered the best quarterly comp sales results in more than a decade,” CEO Doug McMillon said in a statement.
On August 1st, I made a chart commentary titled Correction Time? Listen to This Grizzly to Decide. I concluded the worst we might see in August was a 5% pullback to S&P 2700.But since then, the market and its sectors have made some decisive moves to indicate
When Cisco bought Ann Arbor, Michigan security company, Duo for a whopping $2.35 billion earlier this month, it showed the growing value of security and security startups in the view of traditional tech companies like Cisco. In yesterday's earnings report, even before the ink had dried on the Duo acquisition contract, Cisco was reporting that its security business grew 12 percent year over year to $627 million. Given those numbers, the acquisition was top of mind in CEO Chuck Robbins' comments to analysts.
Can the GPU giant's July quarter earnings report help shares break out of their current range? To do so, it will probably have to both show that Nvidia's data center momentum remains strong and calm worries that have popped up about its PC GPU sales amid a drop in demand from cryptocurrency miners. Nvidia reports after the close on Thursday, and will host an earnings call at 5:30 P.M. Eastern Time.
Foods Co., a unit of Kroger, the largest supermarket chain in the U.S., will no longer accept payment from customers using credit cards issued by Visa, the largest credit card company in the U.S. The ban on Visa credit cards – but not debit cards – was set to go into effect Tuesday. The grocery store chain announced the policy change last week, saying it was due to Visa’s interchange rates, which merchants pay to banks whenever a customer uses a corresponding card at the store.
Derek Scissors, the American Enterprise Institute Asia economist, discusses why China and the U.S. should give up on negotiating trade and go back to a time when China wasn't such an important part of U.S. supply chains.
Canopy Growth, the world's largest marijuana company, is set to report earnings after the closing bell Tuesday. The stock has long been popular among millennials on Robinhood, and Tuesday was no exception. Canopy Growth — the world's largest marijuana company and the first to trade on the New York Stock Exchange — has been a wildly popular stock among millennial investors, and heading into the Canadian company's firs- quarter earnings report, that enthusiasm was only growing.
This has been a market that favors high-growth stocks and not value plays. Obviously, the rising tide of the nine-year-plus bull market has lifted value boats as well. But clearly, the market of late has prioritized revenue growth over profit growth,
Tech and healthcare jobs dominated the list of highest-paying jobs in America, according to a new report by Glassdoor. Looking at the top-paying jobs across U.S.-based companies, the job search firm pulled salary reports for job titles from July 1 last
General Electric shares were off by more than 2% at one point Wednesday, dropping below $12 a share for the first time since the summer of 2009, as investors apparently remain unconvinced that the company’s turnaround plan will stem the bleeding. Earlier this year, the negativity surrounding the stock reached a fever pitch when, at an industry conference, CEO John Flannery talked about the future.
India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after U.S. President Donald Trump slapped an import duty on the alloy earlier this year. During the first quarter of the fiscal year starting in April, India's steel imports from South Korea rose 31 percent from a year earlier, while those from Japan climbed 30 percent, according to an internal document from the Ministry of Steel that was reviewed by Reuters. The flood of imports is so big that the government in New Delhi is considering measures to control imports, Minister Chaudhary Birender Singh told Reuters.
Heard it again yesterday. I couldn't believe it. A conversation among reasonable people about how the bull is on its last legs. A few minutes later, I hear that Warren Buffett has bought more Apple , and, astoundingly, has actually purchased 2.2 million
Aug.15 -- Rob Sands, Constellation Brands Inc. chief executive officer, explains why the company boosted its stake in Canopy Growth Corp. He speaks with Bloomberg's Scarlet Fu and Lisa Abramowicz on "Bloomberg Markets."
"We believe Boeing shares carry the best upside in the sector," analyst Myles Walton says. UBS raises its 12-month price target to $515 a share. Analysts at Swiss bank UBS have raised their 12-month price target for Boeing BA shares to $515, more than 50 percent higher than their current level.
Martin Tripp, a former Tesla employee being sued by the company, has filed counterclaims including allegations that Tesla tried to intimidate him after he spoke out about waste, quality, and safety issues. Another former Tesla employee, Cristina Balan, told Business Insider the company silenced her and seven other employees on her team who internally voiced concerns over waste and quality. Tesla ignored repeated requests for comment on this story.
A startup called Yoshi delivers gas to people's cars for a monthly fee of $20. Yoshi, which is competing with several companies billing themselves as the "Uber for gas," has been backed by ExxonMobil and General Motors. It currently operates in 16 cities, including Chicago, Los Angeles, and Boston.
After Tuesday’s reasonable “turnaround,” investors took the full brunt of selling pain on Wednesday, with major indices falling about 1%. Chinese stocks remain under pressure and a big cannabis deal took place. Let’s look at our top stock trades. Top
Walmart raised its financial outlook for the year after beating Wall Street's expectations for its fiscal second quarter and seeing the strongest growth in more than a decade in sales at established stores. The report is strong evidence that Walmart's efforts to improve the experience shoppers have at its stores and expand its online services, particularly in grocery, are helping bring people to its websites and stores. Like many other retailers, Walmart is also benefiting from a stronger job market and rising confidence.
coverage (as I have said, Buffett is betting on Apple being worth $2 trillion). Sears chairman and CEO Eddie Lampert wrote a letter to the board (which is weird because Lampert controls the company, in effect he is writing himself) released on Tuesday evening (it's always after-market hours with Sears) offering to buy what's left of the Kenmore home appliances business. In the letter, Lampert offers several clues Sears could be headed into its final holiday season amid a major cash crunch.
Cisco Systems Inc. gave a bullish forecast for the current quarter, boosted by corporate spending on upgrades to computer networks. Chief Executive Officer Chuck Robbins is remaking Cisco into a provider of networking software and services. At the same time, the company is trying to decrease its traditional dependence on high-priced custom machines that direct the majority of the world’s internet data traffic.
U.S. stock futures rose on Thursday, Aug. 16, after China said it was set to resume trade talks with the United States, and Walmart Inc. topped earnings estimates and raised full-year guidance. China said it would send a delegation to Washington later this month for talks.
It’s been a rough year for shares of Caterpillar (CAT), which are currently trading 25% below their all-time highs which were reached in January. Despite several consecutive earnings beats and continually improving guidance, investors seem to be focusing on the negative effects of the trade war, with tariffs on both sides raising both the costs of raw materials used by Caterpillar and the net cost of their finished goods sold in overseas markets. Actual results at Caterpillar could hardly be better.
AT&T (T) shares are higher on Monday, helped by a vote of confidence from Morgan Stanley. Where we were: AT&T shares have badly trailed the market this year, amid wider underperformance for telecom in general, and concerns surrounding its takeover of Time Warner. Where we're headed: The telecom sector will soon be replaced by the communications services sector, and AT&T itself could get a boost, given its low valuation and potentially growing investor appetite for defensive stocks.
U.S. chip company Nvidia is making a bold claim that it has accomplished the greatest leap since the invention of the CUDA GPU more than a decade ago. There is positive sentiment developing around Nvidia’s (NVDA) stock. After all, Nvidia claims to be combining artificial intelligence, real-time ray tracing, simulation and rasterization.