Three weeks after someone hit the biggest Mega Millions jackpot in history, the winner has still not stepped forward to claim their prize, according to South Carolina lottery officials – and there might be a strategy behind the move. “I’m actually not surprised at all that it’s taking them some time to claim the prize,” Michael A. Silver, a financial advisor at Morgan Stanley, said on Wednesday. The winning ticket, which was sold in a KC Mart in the South Carolina town of Simpsonville, is worth about $1.5 billion in annual installments over three decades, or an $877 million lump-sum cash package.
Recent studies have found that Americans are becoming increasingly concerned that they will outlive their savings, with more than 30 percent of Americans expecting that they will need more than $1 million in retirement, according to NerdWallet. For those looking to maximize their retirement income by minimizing their taxes, here are the seven states without an individual income tax. Despite its cold climate, Alaska offers some of the best benefits and services to retirees.
has top-tier assets, with a huge presence in the oil-rich Permian Basin. With low operating costs, the company can support its growth plans and sustain its dividend, even with these low oil prices. Occidental has a high dividend yield of around 4.4% and a long history of annual dividend increases.
Investors with at least $1 million invested in a brokerage account aren't making major changes in their portfolios after the midterm elections. Investors think the end of the record bull run is almost here — but they aren't blaming the change of power in Congress.
Nvidia shares dropped 19% to $164.43 to end the day. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. For one, Nvidia's high price to earnings ratio makes it somewhat prohibitive compared to peers like Intel Corp.
TOKYO (AP) -- Asian shares were mostly higher Monday after a buying spree on Wall Street kept up investor optimism into a new week, despite continuing worries about trade tensions. KEEPING SCORE: Japan's benchmark
Google parent Alphabet Inc.’s stock chart has just produced a bearish “death cross” chart pattern for the first time in over two years, that may put the future of the internet giant’s 7-year old bull market in doubt. Some chart watchers believe the cross marks the spot when a shorter-term slump morphs into a longer-term downtrend. The last time Alphabet’s stock (GOOGL)produced a death cross was June 24, 2016.
There are plenty of things that can ruin a person’s retirement plans — divorce, illness, job loss, overspending. A recent study has revealed for the first time the 10 biggest causes of financial regret among those who have retired or are near to retirement. The survey was conducted by researchers from the RAND Corporation and the Max Planck Institute in Munich, Germany.
CannTrust Holdings Inc. said late Wednesday that it sold nearly as much recreational pot in September as Canadian cannabis rivals worth much more, and it is pursuing a listing on the New York Stock Exchange, pushing shares to large gains Thursday. The Vaughan, Ontario-based cannabis producer’s third-quarter earnings showed sales of C$500,000 in recreational pot, positioning it alongside large rivals with deep pockets such as Canopy Growth Corp. (CGC) , (CA:WEED) in the race to dominate the recreational-pot market that Canada kicked off less than a month ago. CannTrust (CNTTF)(CA:TRST) experienced early issues with supplying Canada’s recreational market with pot like other pot producers, but it was able to ship as much recreational weed as Aurora Cannabis Inc. (ACB)(CA:ACB) , which said Monday it moved about $500,000 of recreational product.
NEWSWATCH MARKETWATCH FRONT PAGE Standard deductions are going up, again. See full story. Hedge-fund boss who predicted ‘87 crash says get ready for some ‘really scary moments’ Paul Tudor Jones, a hedge-fund luminary, says he’s stress
Applied Materials Inc., the world’s largest maker of equipment used to manufacture semiconductors, confirmed an industry slowdown Thursday, but also said it will be more modest than past downturns. In a conference call to discuss the company’s fiscal fourth-quarter earnings and disappointing outlook, Applied Materials (AMAT) executives said that industry spending on manufacturing equipment will be lower in 2019 compared with this year, citing a pullback on spending on memory chips and macroeconomic conditions. Just on Thursday, Nvidia Corp. (NVDA) plunged more than 16% in late trading following its earnings report, which also seemed to cause a drop for rival Advanced Micro Devices Inc. (AMD) after Nvidia said it has a big backlog of inventory of its Pascal products.
Investors have been shaken by concerns that demand for oil and natural gas will weaken as global growth slows and the use of renewable energy sources increases. Energy companies have shown greater financial discipline by reining in capital spending and returning more cash to shareholders. Four of the big integrated energy companies— (BP) (ticker: BP), (CVX) (CVX), (XOM) (XOM), and (RDSA) (RDS.A)—have dividend yields in the 4% to 6% range and can probably cover them from earnings, even if Brent crude, now around $67 a barrel, drops closer to $50.
Oil prices have declined sharply in November, but natural gas’ rise has been even more striking with prices for the heating fuel having soared by more than 30% for the month to date, recently touching their highest level in more than four years. “The price will move up and down with the weather, but the upside moves will be greater than the downside,” says James Williams, energy economist at WTRG Economics. December natural gas (NGZ18) rose 18% to settle at $4.837 per million British thermal units on Wednesday.
Chip buyers have industry-specific reasons for cutting orders, but also prefer to order cautiously due to greater macro uncertainty and/or greater confidence that they can up their orders in the future without having to worry about supply shortages. having signaled on its Nov. 1 earnings call that it's seeing some weakness in emerging markets such as India, Brazil and Russia and with the company having said it's guiding cautiously partly due to macro concerns, it wouldn't be surprising if Apple is choosing to be conservative with its iPhone chip-order and production plans.
As the economy strengthens, more workers near retirement age are feeling better about their economic prospects. As the economy strengthens, more workers nearing retirement age are feeling better about their economic prospects. Overall, 85 percent of working Americans said retirement will be a "positive new chapter in life," according to a recent retirement study by Wells Fargo WFC , which polled more than 2,500 adults in August.
Wall Street doesn’t think much of Dell Technologies, the privately held tech conglomerate assembled by Michael Dell and Silver Lake Partners. Judging from the current price of the Dell tracking stock for (VMW) investors are effectively assigning a negative value to Dell’s core business outside its valuable 81% stake in (VMW) (ticker: VMW), a leading software company, and its stakes in two other publicly traded tech companies, (PVTL) (PVTL) and (SCWX) (SCWX). Barron’s derived this calculation based on the current price of the Dell tracking stock for VMware, (DVMT) (DVMT).
You probably don’t need a bunch of charts to tell you just how sketchy the stock market’s behavior has been of late, but we’ll give them to you anyway. Shares of Apple have plunged over 10% in the past three months. Apple isn’t the only FAANG stock whose chart was blaring out warning signs this week.
Not long ago, the iPhone maker was the toast of the market as the first U.S. company worth more than $1 trillion. Apple’s stock plunged 17%, wiping out nearly $190 billion in shareholder value. In September, Apple (ticker: AAPL) released the $999 iPhone XS and the $1,099 iPhone XS Max, followed by the midrange $749 iPhone XR in October.
It’s time to stop lumping Netflix Inc. (NFLX) in with the other FAANG stocks, Imperial Capital analyst David Miller wrote in a note to investors Friday. The FAANG stocks are a quintet of large-capitalization technology and internet companies widely followed by investors, comprising Facebook Inc. (FB) Apple Inc. (AAPL) Amazon.com Inc. (AMZN) Netflix and Alphabet Inc.’s Google (GOOG) They’re often lumped together, but Miller says it’s time to “decouple” Netflix from the rest of FAANG.
Next week will be a short week with markets closed on Thursday for Thanksgiving Day, and markets will close at 1 p.m. ET on Friday. “We suspect the housing market will continue to cool in coming months, as virtually every leading indicator of housing has continued to weaken.
The drop in Nvidia's stock reflects, in part, the reaction of a market blindsided by results after CEO Jensen Huang's comments during the company's second-quarter earnings call that downplayed crypto's impact on the company. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. "We came into Q3 with excess channel inventory post the crypto hangover," Huang told analysts on Thursday night.
California authorities are looking at the utility’s equipment as a possible cause of the deadly Camp Fire. If it’s found to be responsible, PG&E’s potential liability could reach $15 billion, according to Citigroup Inc. And don’t forget authorities are still investigating PG&E’s role in last year’s fires, putting the utility’s total potential wildfire liabilities above $30 billion.
Seven in 10 companies offer a Roth 401(k) option that lets workers put in after-tax dollars, which can then grow and be withdrawn tax-free in retirement. Financial advisors say that's a missed opportunity to stretch your retirement savings and gain tax flexibility. A Roth 401(k) is an option within a workplace retirement plan to put aside after-tax dollars.
Launch a new career, or plan for early retirement? According to SmartAsset’s analysis of U.S. Census Bureau data, the average retirement age in the United States is 63 years old. When you look at the average by state, it varies from a high of 65 to a low of 62, with New Englanders having the oldest average retirement age.
Now, several analysts have cut their price targets on the semiconductor giant. Goldman Sachs analysts cut their price target to $200 a share, and even removed the name from its conviction list. "We remove NVDA from the Conviction List with an updated 12-month price target of $200," the analysts wrote in an note on Friday.