- S&P 5003,019.38+0.42%
- Dow 3027,240.55+0.34%
- Nasdaq8,220.30+0.52%
- Russell 20001,576.78+0.54%
- Crude Oil58.48+0.64%
- Gold1,505.80-0.66%
- Silver17.86-0.33%
- EUR/USD1.1049+0.1105%
- 10-Yr Bond1.7750-0.62%
- Vix13.57-2.72%
- GBP/USD1.2471-0.0362%
- USD/JPY108.0170-0.3570%
- BTC-USD9,941.00-2.19%
- FTSE 1007,356.42+0.58%
- Nikkei 22522,044.45+0.38%
- TheStreet.com
Twilio Shares Bounce Higher After Morgan Stanley Upgrade to 'Overweight'
Twilio Inc. shares traded higher Thursday after analysts at Morgan Stanley boosted their target price on the cloud software group, citing value linked to its next-generation communication platform. Morgan Stanley analyst Meta Marshall lifted his rating on the stock to overweight, from equal weight, with a $130 price target, a $5 improvement from his last assessment, Marshall noted the company's "depth of platform and (overall market share) position should help them outgrow this market", adding it has "a meaningful runway for growth that is being missed in recent pullback". Twilio shares were marked 1.4% higher at the start of trading Thursday to change hands at $114.39 each, a move that would extend the stock's year-to-date gain to just under 30%.
- Investor's Business Daily
Is Microsoft Stock A Buy After Announcing A $40 Billion Buyback? Here's What Its Stock Chart Shows
Is Microsoft stock a buy, after announcing a fresh $40 billion share buyback initiative on Wednesday, and as the company "closes the gap" with cloud computing web services leader Amazon? Shares rose past a buy point Thursday, after the company boosted its dividend and announced its share buyback Wednesday. This comes after a August report from Wedbush Securities noted "a clear acceleration of larger and more strategic enterprise cloud deals," positioning the company to "win the lion's share of the next phase of cloud deployments vs. Amazon."
- TheStreet.com
Jim Cramer: Here's Why Oil Stocks Have Become Pariahs
Natural gas is a goner. Because of a combination of conservation, a slowing economy and the bountiful Permian, the vast West Texas oil repository that will soon take our production from 12 million to 17 million barrels of oil a day. The Permian oil and natural gas had been pretty much trapped, slowing the drilling process, but new pipelines for both have just been completed allowing all the production to come to market.
- TheStreet.com
Herman Miller Rises After First-Period Earnings, Outlook
Herman Miller shares advanced Thursday as the provider of home and office furnishings reported stronger-than-expected fiscal first-quarter net income and a better-than-expected outlook. For the quarter ended Aug. 31, Herman Miller earned 81 cents a share, up 35% from 60 cents in the year-earlier quarter. On an adjusted basis, the company earned 84 cents against 69 cents.
- Reuters
Mitsui looks to sell 40% stake in Australian BassGas project
Japan's Mitsui & Co has put its 40% stake in the BassGas project off southeastern Australia up for sale, the company said on Thursday. Mitsui's stake in the BassGas project, which includes the undeveloped Trefoil gas project, could be worth about A$360 million ($244 million), according to Credit Suisse. Mitsui Australia's spokesman said Rothschild has been engaged to advise on the sale of the stake, which Mitsui acquired with its takeover of oil and gas producer AWE last year.
- Bloomberg
Why Toyota Is Making a $391M Texas Truck Bet
Christopher Reynolds, Toyota North America chief administrative officer, manufacturing & corporate resources, discusses the manufacturer's investment in its Texas truck plant that will build its next-generation pickups, and the outlook for passage of the USMCA. He speaks on "Bloomberg Markets: European Close."
- Financial Times
First-time buyers foxed by property jargon
First-time buyers may be powering the UK's property market, but new research shows they are surprisingly ignorant when it comes to understanding how mortgages work. Nearly two-thirds thought mortgage interest rates varied in different parts of the country, depending on the level of house prices in the locality. Over half thought a lender would provide financing up to 10 times the borrower's income, when the real maximum for the average borrower — capped by regulation — is four and a half times income.
- MarketWatch
Etsy offering $650 million of convertible debt, will use part of proceeds for share buybacks
Etsy Inc. (etsy) said Thursday it is issuing $650 million in convertible debt and will use part of the proceeds to buy back its shares. The company is expecting to raise about $639.3 million in the offering and will use about $124.5 million for share buybacks. The remaining proceeds will be used for general corporate purposes, including further buybacks, product development, marketing and potential acquisitions.
- Financial Times
SoftBank-backed Nemaska Lithium hits setback as bondholders walk away
A SoftBank-backed Canadian lithium project has hit another setback after bondholders with $350m in debt decided to withdraw their support following delays to its construction. Nemaska Lithium said the bondholders would be repaid after it announced in July its mine in Quebec would be delayed beyond June 2021, in accordance with the original debt agreement with the company. Nemaska is struggling to finance the developing of the Whabouchi lithium mine following a dramatic fall in the price of lithium, which is a vital ingredient in electric car batteries.
- InvestorPlace
National Cheeseburger Day Deals 2019: Where to Get Cheap or Free Cheeseburgers Today
Here are some of the best National Cheeseburger Day deals 2019 to keep a look out for. Applebee's — The Classic Bacon Cheeseburger only costs $6.99 today and comes with endless fries. Burger King — Customers can get a 59-cent cheeseburger today when ordering through the chain's app.
- MarketWatch
Fed completes 3rd straight repo auction to avoid short-term rate surge
The New York Federal Reserve Thursday morning completed its third repurchasing operation, or repos, in as many days to stem spikes in crucial overnight funding market for financial institutions. The U.S. central bank carried out $75 billion of repos, with the Street submitting bids for $83.875 billion, sources said, providing liquidity for Wall Street dealers by temporarily buying securities. Earlier this week, a surge in the repurchasing rate, used by hedge funds and banks to fund their trading operations, pushed the fed-funds rate close to the top of its targeted range.
- Bloomberg
Repo Turmoil Points to Shortage of U.S. Dollars in System, Says Manulife’s Trinh
Sue Trinh, managing director for global macro strategy at Manulife Investment Management, discusses the repo market volatility and its impact on Fed policy. She speaks on “Bloomberg Markets: China Open.
- American City Business Journals
McDermott issues statement about external adviser after stock plunges
Houston-based McDermott International Inc. (NYSE: MDR) appears to have hired a turnaround consulting firm, news of which caused the company's stock to plunge on Sept. 18. People familiar with the matter told the Wall Street Journal that the company engaged AlixPartners LLP to help improve cash flow and stem net losses. In its second-quarter earnings report, McDermott reported a net loss of $146 million, or 80 cents per diluted share, and an operating loss of $61 million.
- MarketWatch
Microsoft's stock leads Dow gainers after dividend hike lifts yield above Apple's
Shares of Microsoft Corp. msft) rose 1.3% to pace the premarket gainers among the Dow Jones Industrial Average's (djia) components, after the software behemoth announced an 11% dividend hike and approved a $40 billion stock repurchase program. Based on Wednesday's stock closing price of $138.52, the new annual dividend rate of $2.04 raises Microsoft's implied dividend yield to 1.47% from 1.33%, to leapfrog Apple Inc.'s (aapl) yield of 1.38% into 25th place among the Dow's 30 components.
Oilprice.comNatural Gas Could Be Replaced Within 15 Years
Technological improvements in hydraulic fracking are making 'America Great Again' when it comes to its energy sector. Unconventional oil and gas reserves, which previously were deemed as 'uneconomic to produce', are being exploited on a massive scale. Consequentially, the shale revolution has altered the international energy landscape, which has enabled cooperation between rivals Russia and Saudi Arabia within the OPEC+ framework.
- The Wall Street Journal
Fed Injects More Into Money Markets After Banks Bid Heavily for Funds
The Federal Reserve Bank of New York saw huge demand from banks as they rushed to bid on the $75 billion on offer in a second day of intervention to ease a crunch in overnight funding markets.
- Benzinga
Supreme Cannabis Posts 90% Jump In Quarterly Net Revenue
Supreme Cannabis achieved positive adjusted EBITDA of $3.2 million for the quarter versus negative adjusted EBITDA of $1.6 million in the same quarter of 2018. The company's projections for fiscal 2020 include net revenue between $150 million and $180 million and positive adjusted EBITDA. Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
- Investor's Business Daily
Crude Oil Prices Rise Again As Iran Warns Of An 'All-Out War'
Crude oil prices rose as analysts doubted Saudi Aramco's timeline to return to normal, while tensions with Iran escalated. Saudi Arabia is reportedly looking on the international market for diesel, gasoline and fuel oil to use domestically, while saving its oil for export markets, the Wall Street Journal reported, as state-run Saudi Aramco promised that it would deliver crude to its customers. State-run oil giant Aramco said it had restored 41% of capacity at Abqaiq Wednesday. On Tuesday, Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, said that oil supply will be back online by the end of the month.
- Investopedia
Vanguard vs. TD Ameritrade 2019
Vanguard No streaming quotes No complex options Very simple trading experience with few creature comforts TD Ameritrade Streaming real-time data on all platforms Customization options abound on thinkorswim, and My Dock on the standard website can also be customized The smart order router seeks out price improvement. Mobile and Emerging Tech Vanguard offers mobile apps for iOS, Android, and Kindle Fire devices. The mobile apps are much more modern and easier to use than the website.
- Bloomberg
Banks Don’t Want Draghi’s Free Money as ECB Loans Fall Flat
An offer for three-year loans -- at a rate that starts at zero and could fall as low as the deposit rate, currently minus 0.5% -- was taken up by 28 banks for a total of just 3.4 billion euros ($3.8 billion), well below predictions of 20-100 billion euros. The loans are part of a stimulus package by the ECB president to boost economic growth and inflation. But European lenders have little trouble accessing funds following years of loose monetary policy and some are even keen to turn away deposits to avoid charges from the ECB's negative interest rates, which Draghi pushed even further below zero this month.
- Benzinga
Ping Identity Holding IPO: What You Need To Know
Ping is an identity management company, which enables secure access to any service, application or API from any device. Its Intelligent Identity Platform leverages AI and machine learning to analyze device, network, application and user behavior data to make real-time authentication and security control decisions. As of June 30, Ping's platform secured over 2 billion identities of its customer base spread globally.
- Barrons.com
Pfizer Is Spinning Off Upjohn. What’s Left Will Be No Bargain, Analyst Says
J.P. Morgan's Chris Schott took a close look at what he calls New Pfizer—the company that will be left over after the spinoff of its Upjohn division, which is set to merge with the generic drugmaker (MYL)(ticker: MYL). While the Mylan / Upjohn transaction creates a smaller, innovation-driven biopharma business and increases the company's near-term growth prospects, we feel the company's multiple is ahead of itself with Pfizer RemainCo trading near the top end of the Major Pharma valuation range,” Schott wrote. Schott says that the stock is now trading at 15.6 times the projected 2020 earnings per share of the post-split company.
- American City Business Journals
Confidence remains high in Roku, despite stock plunges and new competition
Roku Inc. saw a chunk of its stock value evaporate when a pair of giants announced new plays in the streaming media market. Los Gato-based Roku, which makes streaming media players and smart TVs, closed the day at $129.88 a share on Wednesday after opening at $143.60, down almost 14 percent. MarketWatch reports that this is the second big stock drop for Roku in the last two weeks, with the company falling 10.5 percent when Apple announced it would be giving away a free year of its new Apple TV+ service to customers who purchase new Apple devices.
- U.S.News & World Report
How to Get Rich (the Right Way)
There are myriad self-proclaimed financial experts and authors who can share their "secrets" to becoming rich with a single investment strategy or income hack. The trick to growing your net worth is often about sticking to regimented and smart spending, investing and saving decisions. "The slow way is usually how it goes," says Dennis Nolte, certified financial planner and vice president at Seacoast Investment Services in Winter Park, Florida.
- MarketWatch
Microsoft stock hits new high after dividend hike, new buyback program
Microsoft Corp. shares (msft) are on track to close at a new record high on Thursday following the company's announcement of an 11% dividend increase and the approval of a new $40 billion stock buyback program. Microsoft is leading the Dow Jones Industrial Average (djia) higher on Thursday, and its dividend hike puts the stock's implied yield at 1.47%, above Apple Inc.'s (aapl) 1.38%. Microsoft's stock is up 40% so far this year, while Apple shares are up 41% and the Dow is up 17%.
