FedEx shares plunged 13 per cent on Wednesday after the logistics group reported its weakest sales growth in a decade and alarmed investors with a gloomy assessment of the global economy. In the latest warning from corporate America of a deteriorating outlook, Fred Smith, FedEx founder and executive chairman, said the world economy “continues to soften” even though the US consumer remained “a remarkable driver”.
The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don't like the shift to the left,” he explained to CNBC, adding that the market, of course, will open, but it won't be pretty. It would be a bear market and they go on for a year and go down 25%,” he said.
General Motors promised 5,400 jobs and a $7 billion U.S. investment Thursday to the United Auto Workers association in an attempt to end their ongoing strike, the company announced in a prepared statement. The UAW has been on strike against GM over disputes on health care and the company shipping jobs to Mexico, where the auto manufacturer is the largest employer, instead of keeping them in the United States, among other issues. “We presented a strong offer that improves wages, benefits and grows U.S. jobs in substantive ways and it is disappointing that the UAW leadership has chosen to strike,” GM's statement said.
In a new interview, Jonathan and Drew Scott — co-hosts of the HGTV series “Property Brothers” — explain where buyers should invest in real estate, and why Las Vegas and Nashville are at the top of their list. “Don't go and invest across the country somewhere that you don't know,” Drew Scott says. Political or economic conditions can determine whether it's worthwhile to build somewhere, said Jonathan Scott, Drew's twin.
The Dow stock backed off highs after topping a 141.78 buy point. Sentiment was bullish early after the company announced a $40 billion share buyback and raisied its quarterly dividend.
For years, AT&T (NYSE:T) stock has been a “yield trap.” This is a stock who's dividend is too good to be true. DirecTv cost AT&T $49 billion in 2015 but has lost 2.5 million subscribers in the last year. AT&T CEO Randall Stephenson's planned glorious retirement next year is beginning to look more like former General Electric (NYSE:GE) CEO Jeff Immelt's more ignominious exit.
“India is least impacted by the global trade war,” Devan Kaloo, global head of equities at Aberdeen, said in an interview in Bangkok Thursday. Bullish calls are scarce after economic growth decelerated for five straight quarters to the weakest level since early 2013, with car sales plunging and the banking system strapped by the world's worst bad-loan ratio. “We think India has policy responses to the slowdown,” Kaloo said.
FedEx says one of its pilots was detained in China after an item was found in his luggage before he boarded a commercial flight. The company said Thursday the pilot was later released, and it is working with Chinese authorities to understand what happened at the airport in Guangzhou, in southern China. The Wall Street Journal reported that former U.S. Air Force pilot Todd A. Hohn was detained on Sept. 12 after pellets used in replica air guns were found in his checked bag.
The United States could learn quite a bit from other countries around the world when it comes to retirement security, according to a new report. The annual Global Retirement Index, started by Paris-based investment bank Natixis Investment Managers, analyzes four key indexes: finances in retirement, including taxes and the old-age dependency ratio; health, such as life expectancy and expenses; “material well being,” which is income equality and unemployment; and quality of life, including happiness and water quality. Iceland topped the list this year, followed by Switzerland and Norway.
Here we go: Baby boomers are the worst investors in the world. Have you ever tried talking to a baby boomer about their asset allocation? The reason is simple: When you're close to retirement, you don't want to risk losing it all.
Uber (ticker: UBER) sports a market valuation of more than $57 billion, while WeWork has raised more than $12 billion in venture capital. At an event Wednesday at his house in San Francisco's Pacific Heights neighborhood, Ellison met with a small group of entrepreneurs, and spent more than an hour answering their questions on a variety of topics. Ellison asserted that while he is close friends with Softbank's Masayoshi Son, he doesn't see the investment case for either WeWork or Uber, both large holdings in Softbank's Vision Fund.
But as 5G takes the world by storm and ushers in a new technological revolution, there's about to be a WAY bigger opportunity than we could capture by simply buying Nokia stock. The infographic below shows how 5G compares to 4G… how that compared to 3G… and so on. Those Nokia flip-phones had their heyday back at 1G and 2G. Then 3G was what allowed Apple (NASDAQ:AAPL) to take the world by storm with the iPhone.
Crude oil prices headed back up Thursday as tensions with Iran escalated, while analysts doubted Saudi Aramco's timeline to return to normal. The attacks over the weekend hit the Abqaiq production facility, the heart of Saudi Arabia's oil sector. It processes 5.7 million barrels of oil a day, or roughly half of the country's production and 5% of global supply.
The Federal Reserve announced Wednesday that its Open Market Committee had voted to cut the federal funds rate by 25 basis points to a range of 1.75% to 2%. The federal funds rate is the benchmark interest rate that banks use when lending to one another. Interest rates on loans and deposits are typically influenced by the Federal Reserve's decisions vis-à-vis the federal funds rate.
Canopy Growth Corp. (CGC), the largest cannabis company in the world by market capitalization, has seen its stock plunge by more than 50% over the last 11 months, dragging down its value from about $20 billion to $9.5 billion today. Now, the Canadian grower faces even more trouble ahead as it racks up an estimated $500 million in losses for the two-year period ending March of 2021, according to Oppenheimer analyst Rupesh Parikh, according to Barron's as outlined in detail below. The woes at Canopy Growth, whose stock initially soared several-fold after it went public, illustrates both the massive operating and market challenges facing cannabis producers, and waning investor optimism for cannabis stocks such as Aurora Cannabis Inc. (ACB), Tilray Inc. (TLRY) and Cronos Group Inc. (CRON).
Particularly appealing for income investors are high dividend stocks such as oil giant BP plc , which now yields over 6%. Not only does BP reward shareholders with a dividend yield over three times the S&P 500 Index average, it also has a lot to gain on an extended oil price rally. Business Overview and Recent Earnings BP is one of the largest oil and gas corporations in the world, with a $131 billion market cap.
S3 Partners analyst Ihor Dusaniwsky recently published a list of U.S. stocks that have endured the largest increase in their outstanding short positions over the past month. Rather than looking simply at shares shorted, Dusaniwsky said including a stock's share price in the calculation always gives a clearer picture of how aggressive short sellers are being. Simple shares shorted does not tell us the amount of 'betting' done in a security, by incorporating the 'chip size' or the price of the stock in the metric we are actually seeing the increase and decrease of dollar short-side exposure in a security,” Dusaniwsky said.
Robert Petty, co-chief executive officer and co-chief investment officer at The Clearwater Funds Fiera Capital, discuss the Fed policy decision, the possibility of recession and his take on negative interest rates. He speaks on “Bloomberg Markets: China Open” from the sidelines of the Milken Institute Asia Summit in Singapore.
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.
It is also about who gets paid before the clock runs out on the Trump administration's first and possibly last term. Possibly the biggest prizes (or losses) of all are those to be had through the administration's restructuring of Fannie Mae and Freddie Mac, the quasi-public housing government-sponsored enterprises (GSE). Oh, and before I forget, some common and junior preferred shares which went into penny-stock pricing land after the crisis-era bailout of Fannie and Freddie.
On CNBC's "Mad Money Lightning Round," Jim Cramer said Trade Desk Inc (NASDAQ: TTD) is oversold, but it's very volatile. Cramer needs to do more work on Zynex Inc. NASDAQ: ZYXI).
Today's drop comes even after Cascend Securities boosted its SWKS price target to $95 from $90, pointing to 5G infrastructure expansion, among other things, as a potentially positive catalyst for SWKS stock. This bullish bias is being seen in the Apple supplier's options pits, too, where calls are crossing at six times the average intraday pace. Most of this action has centered at September 81 call, which expires at the close tomorrow, Sept.
'In these factious times, investors are hard put to find their footing. “When faced with uncertainties, it is advisable to have optionality,” the CEO of Singapore's GIC Pte was quoted as saying by Bloomberg on Thursday.
Solar and wind power provide carbon-free electricity. While lithium-ion batteries have started to meet some of the need for storage, the metals needed to make them are not plentiful enough for large-scale energy hoarding. At Quartz, we've written about companies working on reversible sulfur power-plants, injecting water underground, running “refrigerators on steroids,” and using stacked concrete blocks—all with the purpose of storing excess renewable energy.
Dickson was slated to deliver a presentation Thursday at the Gastech conference in Houston alongside peers from WorleyParsons Ltd. and TechnipFMC Plc. In his stead, McDermott COO Samik Mukherjee joined the panel, spokeswoman Gentry Brann said in an interview. The shuffle comes amid a meltdown in McDermott's bonds and shares as the builder of oil platforms and natural gas plants struggles to cope with a $4.3 billion debt hangover from its 2018 purchase of Chicago Bridge & Iron Co. A person familiar with the matter said Wednesday that McDermott hired restructuring firm AlixPartners LLP for strategic and operational advice.