Shares of PG&E Corp. plummeted as much as 23 percent Wednesday after the company said it had exhausted its revolving credit lines, signaling its growing financial stress. “It really raises a lot of fears for investors,” Bloomberg Intelligence analyst Kit Konolige said. PG&E has a total of $3.46 billion in cash and cash equivalents, and another $1.4 billion in wildfire insurance coverage, according to regulatory filing Tuesday.
Suze Orman broke the internet earlier this month when she told the “Afford Anything” podcast that those buying into the FIRE movement (financial independence, retire early) better save at least $5 million to achieve that goal. “Her views ruffled a lot of feathers, but after crunching the numbers, I have to agree — $5 million sounds about right if you want to retire before the age of 60,” the Financial Samurai blog’s Sam Dogen said. Dogen says 40 is the absolute earliest he’d recommend anybody retire, although even then, that’s asking a lot out of your investments.
Boeing didn't tell airline pilots about features of a new flight-control system in its 737 MAX that reportedly is a focus of the investigation into last month's deadly crash in Indonesia, according to pilots who fly the jet in the U.S.
Semiconductor stocks have had it very easy for the last few years. In looking for semiconductor stocks to dump I’m looking for companies that investors had overreached for, but where the final collapse has not yet come. Put the cash in your pocket while it’s still on the table.
Sometimes, the stuff that people say about early retirement (and early retirees) is terrible. It is assumed that early retirement is the end of productive life and that unless we’re swimming in millions in cold hard cash, early retirement will eat us alive. As I said in my one-year early retirement performance review, early retirement is all that it’s cracked up to be.
When it comes to the social media behemoths, Senator Mark Warner (D-Va.), thinks many of us just don’t get it. What does Warner—who’s the ranking Democrat on the Senate Intelligence Committee, and thereby steeped in the issue—propose we do about this? “[What] if you knew how much your data was worth to Facebook, on a monthly basis,” the Senator asked.
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. NetApp (NTAP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of NTAP and the rest of the Computer and Technology group's stocks.
The Dow drops 600 points as stocks get slammed. Should investors still be buying the dip? With CNBC's Joe Kernen and the Fast Money traders, Pete Najarian, Steve Grasso, Brian Kelly and Tim Seymour.
Johnson Controls International plc JCI has announced that it is selling its power solutions business to Brookfield Business Partners L.P. and institutional partners (jointly, "Brookfield"). A definitive agreement has been signed between Johnson Controls
The Dow Jones Industrial Average gave up a more than 200-point opening gain early Wednesday and turned negative, as shares of Apple Inc. (AAPL) slumped. The Dow (DJIA) had opened the session with an advance of as many as 214 points but was most recently down about 75 points, or 0.3%, at 25,210. Shares of Apple (AAPL) were down 2.3%, or $4.38, to $187.83 on Wednesday and are down 19.1% since hitting a peak in early October.
Three of the largest cannabis companies reported earnings this week, painting a portrait of a nascent industry enjoying surging demand as recreational pot becomes legalized in more places—but they’re also encountering some growing pains. Aurora Cannabis said Monday its revenue rose 260% to $29.7 million Canadian dollars (US$22 million). On Tuesday, Tilray said revenue rose 86% to C$10 million, while its net loss increased to C$19 million from C$1.8 million a year ago, driven largely by an increase in non-cash stock-based compensation charges.
Marc Pinto of Janus joins 'Squawk Box' to discuss his top stock picks to buy amid the market's volatility.
L Brands Inc. could bring back the Victoria’s Secret swimsuit line now that the company has signaled no strategy is off limits if it improves profitability, Wells Fargo analysts say. L Brands’ (LB) portfolio includes Victoria’s Secret and Bath & Body Works. Wells Fargo upgraded L Brands to outperform from market weight, with analysts seeing a turnaround on the horizon as the company takes an “‘all options on the table’ mentality.” Analysts don’t expect a turnaround in the near future, but shuttering Henri Bendel and considering options, including a sale, of the La Senza business shows that the company has taken on a new focus.
Cisco Systems, Inc. ( CSCO) has been a component of the Dow Jones Industrial Average since June 8, 2009. Before becoming a Dow stock, Cisco set its all-time high of $82.00 back in March 2000. Cisco stock closed Tuesday, Nov. 13, at $45.12, up 17.8% year to date and in bull market territory at 20.8% above its 2018 low of $37.35 set on Feb. 6.
Shares of General Electric Co. shot higher Tuesday, as the struggling industrial giant’s planned sale of its stake in Baker Hughes gave investors reason to cheer after a bruising period. The rally comes after the GE shares closed Monday below the $8 mark for the first time since the depths of the financial crisis. Baker Hughes’s stock (BHGE)rose 0.7% Monday, after falling 18% the previous 14 sessions.
Jim Cramer reviews the negative coverage of Apple, Facebook, Amazon, Netflix and Alphabet's stocks. CNBC's Jim Cramer is tired of seeing negative Wall Street coverage suffocate the stocks of Apple AAPL and FANG, his acronym for Facebook FB , Amazon AMZN , Netflix NFLX and Google, now Alphabet GOOGL .
Dalio’s Bridgewater Associates maintained its holdings in SPDR Gold Shares, the largest bullion-backed ETF, at 3.9 million shares, and its stake in iShares Gold Trust, the second-largest, at 11.3 million shares in the third quarter, according to a regulatory filing Tuesday. Bridgewater stayed loyal to bullion even amid an investor sell-off that sent assets in bullion-backed ETFs tracked by Bloomberg tumbling by 2.79 million ounces in the third quarter, the first such decline since the end of 2016. The hedge fund also added to its holdings in Barrick Gold Corp., Franco-Nevada Corp., Newmont Mining Corp. and Kinross Gold Corp. in the third quarter.
Binny Bansal, 37, stepped down immediately following an independent probe into the allegations, which the executive denies, Walmart said. “While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation,” Walmart said in a statement.
Advanced Micro Devices (NASDAQ:AMD) consistently squares off against the world’s toughest competitors in the most lucrative markets. What makes this accomplishment so impressive is that Advanced Micro Devices stock has been a different animal since the end of September. On the positive end of the scale, AMD has gained market share against long-time archnemesis Intel (NASDAQ:INTC).
The lawsuit seeking damages against California's largest public utility was filed on Tuesday in San Francisco County Superior Court by the law firms, which collectively call themselves Northern California Fire Lawyers. "It's important to remember that the cause (of the "Camp Fire") has yet to be determined," PG&E said in a statement. The Camp Fire, which began last Thursday, has all but wiped out the Sierra foothills town of Paradise in Butte County, about 175 miles (280 km) north of San Francisco, that was overrun by flames and largely incinerated.
This has lagged the Computer and Technology sector's loss of 5.26% and the S&P 500's loss of 1.27% in that time. The Wireless Equipment industry currently had an average PEG ratio of 2.18 as of yesterday's close.
Shares of Nvidia NVDA have plummeted over 30% since they hit their all-time high at the start of October. Amid broader market uncertainty, concerns remain that historically cyclical chip stocks will continue to decline. Nvidia’s chips help power everything from gaming to datacenters.
Semiconductor stocks have been battered by recent market-wide volatility and concerns that the industry’s strong cycle is nearing its end. The aforementioned emerging tech trends have created new consumer demand, and the semiconductor makers are delivering. Mellanox Technologies is a leading supplier of semiconductor-based computer networking products to world-class server, storage, and infrastructure OEMs.
J. C. Penney Company, Inc. JCP is slated to release third-quarter fiscal 2018 results on Nov 15, before the market opens. The Zacks Consensus Estimate for revenues is $2.83 billion, up marginally by 0.7% from the year-ago quarter. J. C. Penney has been in troubled waters for quite some time, losing customers to cheap sellers.
Shares of Apple Inc. (aapl) fell 0.4% in premarket trade Wednesday, which puts them in danger of a fifth-straight decline, after the technology giant was downgraded by analyst Rob Cihra at Guggenheim Securities, who said rising average selling prices (ASPs) was "no longer enough" to offset declining iPhone units. Cihra cut his fiscal 2019 earnings estimate to $12.97 a share from $13.41--the FactSet consensus is $13.44--and his revenue estimate to $273 billion from $281 billion. "Over the past 10 years, Apple's iPhone ASP has increased a dramatic +$220, or 40%, reflecting its growing value to both consumer and business markets, but nearly half of all that just came in [fiscal year 2018] alone, making a period of digestion now likely," Cihra wrote in a note to clients.