Restoration Hardware shares are surging after Berkshire Hathaway revealed a new stake in the home furnishing company. Berkshire owned about 1.21 million RH shares worth over $206 million as of Sept. 30, according to a regulatory filing. Yahoo Finance’s Jared Blikre breaks it down on The Ticker.WATCH »
Democratic Representatives Alexandria Ocasio-Cortez and Jan Schakowsky are working on legislation that would nearly double the top individual U.S. tax rate to 59% on the highest incomes. The bill, which is still being drafted, also would increase capital gains rates to equalize them with income taxes and move to a so-called mark-to-market system. That would require individuals to pay taxes annually on the appreciation of their investments, real estate and business holdings.
The stock market today rallied to record highs on news a China trade deal may soon be reached. The Dow Jones Industrial Average was up more than 135 points in afternoon trading. The Nasdaq rose nearly 0.7%, the S&P 500 advanced 0.6% and the Dow Jones industrials added 0.5%.
What is the size of the average retirement nest egg? A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in corporate-sponsored 401(k) plans at the end of 2018 was $95,600. As you might expect, young workers tend to have less money saved for retirement than older workers do, in part because their salaries are usually lower and they haven't had as many years to contribute to their retirement accounts.
Going into third-quarter earnings season, Wall Street analysts are most positive on home-improvement retailers Home Depot and Lowe's (LOW) and on off-price stores like (TJX) (TJX) and (ROST) (ROST). After year-over-year sales and profit-margin declines last quarter, department stores once again face the gloomiest outlook from the analyst and investor community. We're modeling [third-quarter earnings per share] misses across our department-store coverage,” wrote Bank of America Merrill Lynch analyst Lorraine Hutchinson in a report on Thursday.
Aurora Cannabis Inc. shares suffered through their worst trading session in more than five years Friday, after an earnings report that included disappointing numbers and plans to cut spending sent analysts racing to cut their forecasts for the Canadian marijuana producer. Aurora's (ACB) revenue declined by 24% sequentially in its fiscal first quarter, and the second largest public weed company by sales cancelled or delayed plans for multiple further facilities expansions and converted C$155 million in debt into shares as it seeks to conserve cash. Investors responded by sending the stock on a 17.2% decline to $2.73, the largest single-day percentage decline for Aurora shares in more than five years and the lowest closing price since October 2017.
By definition, the dividend aristocrats -- a group of S&P 500 companies that have raised their dividend payouts annually for 25 years or more -- should be good candidates for low-risk dividend stocks to buy. Like JNJ, Chevron falls into that category, with 33 straight years of dividend growth. Today Chevron rewards investors with a healthy 3.9% yield, and while share price gains have been pretty pedestrian in recent years, the integrated oil and gas major does have to deal with energy prices that have been depressed since the 2014 oil crash.
Vireo Health (OTC: VREOF) announced this week that Shaun Nugent will be joining as chief financial officer starting in December. As CFO, Nugent will work closely with CEO Kyle Kingsley and newly-hired Executive Chairman Bruce Linton to optimize profitable growth, capital markets, and operating efficiencies. Nugent previously served as the CEO or CFO of several private and public companies, including Life Time Fitness, AllOver Media, Champps Entertainment and Sun Country Airlines.
This article originally appeared on MarketWatch, a sister publication of Barron's. We publish articles from other sites when we think our readers will enjoy them. BRKA) (ticker: BRKA) revealed new stakes in furniture maker (RH)(RH) and energy company (OXY) (OXY), according to a filing on Thursday.
Julia Wang, greater China economist at HSBC, discusses China's October industrial output and retail sales data and what they mean for the economy. She speaks on “Bloomberg Markets: Asia.
Here's what you need to know about the federal income tax rates on capital gains tax (and dividends) under the current rules, which are scheduled to last through 2025 (political developments permitting). rates and brackets for LTCGs and dividends The TCJA retained the 0%, 15%, and 20% rates on LTCGs from assets that you've owned for more than one year and for qualified dividends. However, these rates now have their own brackets that are no longer tied to ordinary income brackets.
The Howard Hughes Corp. (NYSE: HHC), which is in the process of moving its headquarters from Dallas to The Woodlands, has promoted two more executives, including one who is taking over the former duties of the recently promoted CEO. Jim Carman has been promoted from senior vice president of commercial development to president of the Houston Region, which includes The Woodlands, Bridgeland and The Woodlands Hills master-planned communities. Carman is assuming the former duties of Paul Layne, who was promoted to CEO in October.
Microsoft Corp. co-founder Bill Gates overtook Amazon.com Inc.'s Jeff Bezos as the world's richest person on Friday, reclaiming the top ranking for the first time in more than two years. Gates may have been helped in part by the Pentagon's surprise decision announced Oct. 25 to award a $10 billion cloud-computing contract to Microsoft over Amazon. Shares of Microsoft have since climbed 4%, giving Gates a $110 billion fortune, according to the Bloomberg Billionaires Index.
Bristol-Myers Squibb and Celgene said Friday the U.S. Federal Trade Commission cleared their planned merger. The FTC decision clears the path for Bristol-Myers to wrap its $74 billion Celgene merger on Wednesday, the pharmaceutical company said in a news release. The pharma giant announced its Celgene merger in January.
The country has experimented with both wealth taxes and very high top income taxes, with disappointing results. France had a wealth tax from 1982 to 1986 and again from 1988 to 2017. The top rate was between 1.5% and 1.8%, with the total tax rate on fortunes larger than 13 million euros ($14.3 million) hovering at about 1.4%.
Nearly all of the top 20 actively managed equity mutual funds in the U.S., as ranked by assets, are behind the S&P 500 index's 23.2% return through October. The market beaters— (ticker: FDGRX), (VDIGX), and (RPMGX)—are also topping the S&P 500 over the past one and five years. The Fidelity and T. Rowe Price funds are ahead for the past 10 years, as well, Morningstar data show.
Nobel Prize–winning economist William Sharpe has spent most of his career thinking about risk. A few decades ago, Sharpe turned his attention to what may be the biggest risk of all for most Americans—running out of money in retirement. The professor of finance, emeritus, at Stanford University's Graduate School of Business created a computer program that eventually covered 100,000 retirement-income scenarios based on different combinations of life spans and investment returns for a retired couple.
Alex Wong, director of asset management at Ample Capital, talks about Hong Kong and mainland China stock markets. He speaks with Selina Wang and Yvonne Man on "Bloomberg Markets: China Open."
Marijuana stocks received enormous hype after legal recreational sales took hold in Canada and sales became legal in some form or another across more than half of the U.S. Producers in Canada listed on the big U.S. exchanges, while their U.S. counterparts sought listings in Canada. But are any of the marijuana stocks on major U.S. exchanges a good buy now? Overall, the marijuana industry is showing little profit growth as weed producers burn through money to expand.
At a time when companies in a U.S. natural gas field have been losing money and exiting Louisiana's Haynesville shale basin, Dallas Cowboys' owner Jerry Jones' Comstock Resources is picking up cheap assets, betting on the field's proximity to the growing U.S. Gulf Coast export hub. Reuters on Wednesday reported that Comstock Resources is in talks to buy Chesapeake Energy Corp's Haynesville shale assets in Louisiana. A deal would come just months after Comstock paid $1.1 billion to buy privately held Covey Park Energy to become the largest operator in the region.
If the tug-of-war between the bulls and bears ends in a victory for the latter, the next support could be round level of $8000, and then a 200-day moving average of $7800. Most altcoins replicated the benchmark cryptocurrency's dynamic, but some of the TOP-10 cryptocurrencies have their growth drivers. A campaign to support XRP started in the crypto community with the active steps of the media and bloggers.
The Dow Jones Industrial Average crossed another big milestone: 28,000. The Dow first closed above 27,000 on July 11 – 90 trading days ago, according to Dow Jones Market Data, and its march higher has been powered by a handful of heavyweights. “Another Record Stock Market, 21 times this year, despite an ongoing, & totally unfounded, Witch Hunt, & a Democrat Party that would love to see a nice, big, juicy recession,” President Trump tweeted Friday morning.
Google (GOOG, GOOGL) is getting into banking. According to a report from the Wall Street Journal the company says it's going to be the next tech company to enter financial services with a checking account. The project has the code name “Cache,” and Google will offer accounts via traditional banks like Citigroup (C) and a Stanford credit union.
President Donald Trump's latest plan to combat high medical prices is being greeted by Wall Street as a reason to buy health care stocks. Hospital stocks and managed care stocks surged Friday. HCA Healthcare and Dow Jones component UnitedHealth broke out of consolidations, with several others nearing buy points.
Warren Buffett's Berkshire Hathaway Inc.'s may have sold some Apple Inc. shares during the third quarter, but its ownership stake in the technology giant actually increased, as the value of the investment swelled by more than $6 billion. Apple's stock (AAPL) climbed 0.9% in afternoon trading Friday, which put it on track to close at a record high for th seventh time this month. In a 13F filing with the Securities and Exchange Commission late Thursday, Berkshire (BRK)(BRK) disclosed what amounts to a rebalancing of its Apple investment, as the number of shares it owned declined by 750,650 to 248,838,679 shares as of Sept. 30, from 249,589,329 shares as of June 30.
Many baby boomers are betting too much on stocks with their retirement savings, a recent Fidelity Investments report found, emboldened by the historic market returns over the last decade. More than a third of boomers – 37.6% – are overly invested in the stock market in their 401(k) accounts, Fidelity found, with 7.9% holding 100% in stocks. Overall, almost a quarter of all 401(k) savers were overweighted in the stock market.