Reuters•3 hours agoTrump's revenge: U.S. oil floods Europe, hurting OPEC and Russia
MOSCOW/LONDON (Reuters) - As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and one that has helped elevate benchmark Brent prices close to four-year highs. Now, the relatively high prices brought about by that pact, coupled with surging U.S. output, are making it harder to sell Russian, Nigerian and other oil grades in Europe, traders said.
- Bloomberg•4 hours ago
AT&T Defends Time Warner Deal's Cost Savings From U.S. Assault
AT&T Inc. attacked the U.S. government expert who disputes the company’s claim that its takeover of Time Warner Inc. would lead to $2.5 billion in cost savings. Rob Walters, a lawyer for AT&T, tried Monday to undermine the Justice Department’s expert, Ronald Quintero, saying he ignored AT&T’s history of successfully integrating companies and achieving projected savings. Walters also said that in a separate case in which he testified as an expert, Quintero’s testimony was "utterly discredited" by a judge.
Business Insider•11 hours agoBitcoin Cash has risen 80% over the last week
Bitcoin Cash is up 17% against the dollar on Monday. The cryptocurrency has risen 80% over the last seven days. An upcoming 'fork' of the currency — a change to its underlying code — appears to be supporting the price rally. Follow the live Bitcoin Cash
- CNBC Videos•8 hours ago
Sears CEO Eddie Lampert's hedge fund ESL proposes to buy ...
ESL Investments, the hedge fund led by the CEO of Sears Holdings, Eddie Lampert, has made a proposal to buy some of the retailer's assets.
InvestorPlace•6 hours agoA Smarter Nvidia Corporation Play for a Potential 500% Return
According to some market pundits, issues like Apple Inc.’s (NASDAQ:AAPL) woes, China trade war concerns and today’s much more volatile and erratic cryptocurrency market can all be fingered as reasons why investors should stay away from Nvidia stock. If you’re a buyer of those markets, Nvidia — whose chips are leaders in all those areas — should sound attractive. This appears to be the case for Nvidia stock right now–and that’s good news for bulls.
Associated Press•6 hours agoUS brands suffer collateral damage in Chinese corporate war
It was looking like a banner year for business in China. The U.S. clothing company was expecting a 20 percent jump in online sales on Alibaba's Tmall, thanks to the e-commerce giant's massive reach. The company refused to sign an exclusive contract with Alibaba, and instead participated in a big sale promotion with its archrival, JD.com Inc. Tmall punished them by taking steps to cut traffic to their storefront, two executives told The Associated Press.
- InvestorPlace•7 hours ago
Kinder Morgan Inc Finally Gives Investors What They Want
Pipelines were supposed to be safe tollways that produced plenty of cash flows. Kinder Morgan stock has pretty much languished since that fateful day. Moves to right the ship at Kinder Morgan have begun to work and KMI has finally given long-suffering shareholders what they wanted all the time — a big return to dividend growth.
- The Street•6 hours ago
Jim Cramer: Kimberly Clark's Quarter Was Better Than Procter & Gamble's
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said Kimberly Clark's quarterly earnings were better than Procter & Gamble's but that he doesn't like the consumer products space.
- Zacks•8 hours ago
Is a Beat in Store for Bristol-Myers (BMY) in Q1 Earnings?
The company delivered positive earnings surprise in three of the last four quarters and missed expectations once. The average positive earnings surprise in the last four quarters is 4.23%. In the last reported quarter, Bristol-Myers delivered a positive surprise of 1.49%.
- CNBC.com•yesterday
The Trump stock market looks a lot like Reagan's, and that may not be a good thing
Reagan's stock market gives clues for the Dow's next move: Acampora 2:27 PM ET Fri, 20 April 2018 | 01:53 Donald Trump, like Ronald Reagan before him, is an outside-the-beltway president. That recently prompted longtime market watcher Ralph Acampora to investigate whether the two had anything else in common. What he found could be a warning to the stock market. "Ronald Reagan had a six-month honeymoon," Acampora, director of technical research at Altaira Capital Partners, told CNBC's "Futures Now" last week. "The percentage gain was roughly about 10 percent." When Reagan was sworn into office on Jan. 20, 1981, the Dow Jones Industrial Average was trading at around 950. The index, which at
- InvestorPlace•8 hours ago
Qualcomm, Inc. Stock Investors Should Just Wait For The Dust To Settle
Chipmaker QUALCOMM, Inc. (NASDAQ:QCOM) has been on a wild ride over the past several months. The shares were in a down-trend for most of 2017 until Broadcom Inc (NASDAQ:AVGO) acquisition rumors emerged in October, sending QCOM stock from $50 to $70 in a hurry. Qualcomm stock dropped.
- Zacks•9 hours ago
Should You Buy Advanced Micro Devices (AMD) Ahead of Earnings?
Investors are always looking for stocks that are poised to beat at earnings season and Advanced Micro Devices, Inc. AMD may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That
- CNBC Videos•7 hours ago
Consumer staples the worst performing sector this year
CNBC’s Mike Santoli takes a look at ETFs tracking the consumer staples sector.
- Zacks•13 hours ago
Micron (MU) Down 14.1% Since Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Micron Technology, Inc. MU. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Micron reported outstanding quarterly results for the second quarter of fiscal 2018.
- MarketWatch•yesterday
Here’s what Wells Fargo did to trigger a $1 billion fine
Unlike many of the scandals that have triggered billion-dollar penalties for banks, the problems that led to a 10-figure federal government settlement for Wells Fargo & Co. don’t appear to have colorful emails or trader messages describing bad behavior. Wells Fargo’s WFC, +1.98% risk management already resulted in an unprecedented Federal Reserve sanction of having its growth limited. Wells Fargo, keep in mind, was fined by the CFPB and other regulators after opening millions of customer accounts without permission. To hear the OCC tell it, Wells Fargo did not establish “effective first and second lines of defense,” execute on a comprehensive plan to address compliance risk management deficiencies, fill mission-critical staffing positions, implement a reliable risk assessment and testing program and report compliance concerns adequately to the board.
- Bloomberg•10 hours ago
The Total Witch Hunt Around AT&T’s Power Grab
Just as lawyers for AT&T Inc. wrap up what most have considered to be a strong defense of the Time Warner Inc. megamerger, information has trickled out that may test the company’s credibility. AT&T, the No. 2 wireless carrier in the U.S., and its larger rival Verizon Communications Inc. are reportedly under investigation by U.S. antitrust officials over whether the companies colluded to make it harder for customers to switch carriers. The probe has to do with new electronic SIM, or eSIM, technology that allows consumers to make the switch by changing settings on their phone or tablet, rather than having to physically swap out a SIM card chip or go through their carrier. The Justice Department
- Zacks•3 hours ago
Should You Buy Texas Instruments (TXN) Stock Ahead of Earnings?
Shares of Texas Instruments TXN dipped into the red during early afternoon trading Monday, just one day before the chip behemoth is scheduled to release its latest quarterly earnings report. With concerns emerging that the dominant run for semiconductor stocks could be over soon, investors will want to key a close eye on the recent results of an industry bellwether like TXN. Increased demand for its chips—thanks to a variety of new applications throughout the tech landscape—has helped Texas Instruments surge considerably over the past few years.
Reuters•1 hour agoOil settles higher; fears of Iran sanctions end early slide
By Jessica Resnick-Ault NEW YORK (Reuters) - Oil prices rebounded from an early slide to finish higher and strengthen further in post-settlement trade, as investors feared U.S. sanctions could dampen Iran's output. "It's tweet
Yahoo Finance•10 hours agoWarren Buffett: Women make me 'very optimistic' about this country
Legendary investor Warren Buffett, the founder of Berkshire Hathaway, is bullish on the potential of women in the U.S. to boost the economy. “I have two sisters that are absolutely smart as I am and better personalities,” Buffett told Yahoo Finance’s editor-in-chief Andy Serwer in a wide-ranging interview. According to Buffett, 87, that was the “unseen message” his sisters received growing up.
- Zacks•6 hours ago
United Parcel Service (UPS) Q1 Earnings: What's in Store?
United Parcel Service, Inc. UPS is scheduled to report first-quarter 2018 results on Apr 26, before the market opens. Revenues improved 11.2% to $18,829 million from the year-ago quarter, outpacing the Zacks Consensus Estimate of $18,190.5 million.
- Coindesk•8 hours ago
Iran Said to Bar Banks from Bitcoin Market
Iran's financial businesses should not deal in bitcoin or other cryptocurrencies, according to the country's central bank and one of its principal market regulators. Fearing the possible illicit use of cryptocurrencies in money laundering and terrorist financing, the Central Bank of Iran (CBI) sent out a circular on Sunday to prohibit the use of the technology within financial institutions, the country's national news agency reports. The announcement, made public yesterday, was passed by Iran's anti-money laundering body in December, 2017.
- MarketWatch•8 hours ago
Investors shouldn’t get ahead of themselves on General Electric
There is a good reason not to pay attention to General Electric earnings and analysts who cover the company. Because if you did, you would have lost your shirt. To be fair, a couple of analysts have been, belatedly, correct. Compare General Electric’s GE, +0.45% chart with that of the Dow Jones Industrial Average DJIA, +0.23% and the S&P 500 ETF SPY, +0.17% The drastic underperformance of General Electric’s stock will surely jump out at you. Let’s explore the chart. Chart Please click here for an annotated chart of General Electric. Please note the following: • General Electric is showing the first green candle on the chart in a long time. This is positive. • During the selloff, volume picked
Associated Press•4 hours agoSears' biggest shareholder offers to buy Kenmore brand
Sears' biggest shareholder has suggested the company sell its well-known Kenmore brand and some real estate holdings, offering itself as a potential buyer. The ailing company has sold off other major brands as it struggles to stay afloat, with Kenmore a notable remainder of the powerhouse retailer that survived two world wars and the Great Depression. The private equity firm ESL Investment, headed by Sears chairman and CEO Edward Lampert, said it might buy the assets — Kenmore, Sears Home Services' home improvement business and the company's Parts Direct business — if the company is willing to sell.
- CNBC.com•13 hours ago
The 10-year Treasury yield is inches away from 3%, a level that could cause shock waves in the financial markets
Kilburg: The global growth story is still intact 4 Mins Ago | 01:38 The yield on the benchmark 10-year Treasury note started the week on a tear, jumping to 2.99 percent and toying with the key 3 percent level that could trigger a reaction across global financial markets. The 10-year yield was at 2.979 percent at 7:05 a.m. ET, after topping 2.99 percent earlier Monday. The yield on the 30-year Treasury bond was higher at 3.167 percent. Yields move inversely to bond prices. Should the yield hit 3 percent, it would be the note's highest rate since January 2014. The benchmark for mortgage rates and other financial instruments has jumped in April on signs of increasing inflation and as the Federal
- CNBC.com•10 hours ago
Goldman upgrades Merck, calls it one of its top stocks, cites Keytruda lung cancer breakthrough
Goldman Sachs upgraded shares of Merck to buy from neutral and named it to its Americas Conviction List of favorite stocks on Monday because of potential booming sales from the drugmaker's blockbuster lung cancer treatment Keytruda. Merck shares rose 2.4 percent in premarket trading on the Goldman call. "We believe the narrative for this company is quickly changing with the success of Keytruda (a potential $16bn asset by 2025E) driving a significant shift in product mix from a large primary care evolving into a specialty biopharma," Jami Rubin wrote in a note to clients. Rubin's 12-month price target of $73 calls for a 24 percent increase for the shares from Friday's close. Earlier this month,
