- Fox Business•6 hours ago
Why hasn't the $1.5 billion Mega Millions winner claimed the prize?
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.
- CNBC•yesterday
Couple that saved $1 million to quit work in their 30s say this is the hardest part of retirement
After a decade of saving and investing more than half of their income, Justin and Kaisorn McCurry quit their jobs and retired in their 30s. Now, the Raleigh, North Carolina, couple are living their best lives . The hardest part might be adapting to more alone time and less structure.
- MarketWatch•yesterday
CNBC’s Jim Cramer says stock market is in ‘a very serious correction’ — and there’s nowhere to hide
Jim Cramer, CNBC’s “Mad Money” host and a prominent fixture among market commentators, on Monday said the market is enduring “a very serious correction,” underscored by the fact that there are few fundamental reasons for the market’s current downtrend. During CNBC’s “Halftime Report,” Cramer said notable is a slump in shares of so-called FANG names — the highflying quartet of Facebook Inc. (FB) Amazon.com Inc. (AMZN) Netflix Inc. (NFLX)and Google parent Alphabet Inc. (GOOGL)(GOOG) that are among the most influential on Wall Street due to their massive market values and the degree by which investors have piled into those investments for hope of consistent growth. All of those companies are in a corrective phase, defined as a drop of at least 10% from a recent peak, and Netflix and Facebook shares have shed around a third of their values since hitting 52-week peaks.
- Bloomberg•yesterday
Four Ways GE’s Crisis Could Play Out
The dramatic decline has left investors wondering about the worst-case scenario for the industrial icon. As new Chief Executive Officer Larry Culp tries his hand at a turnaround, the possibilities span everything from a prolonged fight for survival to a swift journey to the junkyard. Revenue growth and profit margins might suffer, but GE would have a shot at regaining a higher credit rating and reflating its dividend, winning back investors.
Reuters•22 hours agoRegulator 'stunned and terrified' after causing PG&E stock surge
PG&E's stock had slumped over 60 percent since the state's deadliest-ever wildfire broke out last week on fears that without help from California's government, the utility could go bankrupt should it eventually be found responsible. The fire destroyed the town of Paradise and has killed at least 63 people. California Public Utilities Commission President Michael Picker told Reuters on Friday that utilities must be able to borrow money cheaply in order to properly serve ratepayers.
- Barrons.com•10 hours ago
Why Apple’s Stock Slide Could Continue
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.
- MarketWatch•yesterday
Hedge-fund boss who predicted ‘87 crash says get ready for some ‘really scary moments’
‘From a markets perspective, it’s going to be interesting. Paul Tudor Jones, a hedge-fund luminary, said he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead on the back of the Federal Reserve’s apparent commitment to normalizing interest rates and buttressed by corporate tax cuts from the Trump administration. Speaking at an economic forum in Greenwich, Conn., a hotbed for hedge funds, Jones said the Fed faces real challenges amid “the end of a 10-year run” of economic growth that many anticipate will soon come to a screeching, cyclical end.
- CNBC Videos•21 hours ago
Cramer: Don't buy shares of Nvidia—the chipmaker is in th...
Jim Cramer tells investors to steer clear of Nvidia's stock as it hovers near its 52-week lows.
- Bloomberg•2 days ago
Facebook Morale, Hurt by Share Drop, Suffers Another Hit
The night before, the New York Times had reported that Sheryl Sandberg, Facebook’s chief operating officer, worked behind the scenes to prevent the company’s board and the public from understanding the full extent of Russia’s misinformation campaign on the social network. The employees were used to the public microscope.
- MarketWatch•yesterday
Why bitcoin prices are staging a fresh collapse
CRYPTOWATCH On Wednesday, bitcoin, the world’s most famous digital currency, plummeted more than 10%, crashing through $6,000 and trading to its lowest level since October 2017. By the end of the session bitcoin (BTCUSD) closed down
- Investopedia•yesterday
3 Casino Stocks ‘Too Cheap to Ignore’: Bernstein
In a note to clients on Thursday, Bernstein's Vitaly Umansky initiated coverage on four of the largest U.S. gambling companies, who have all sharply underperformed the broader market this year, as outlined by Barron's. Shares of Las Vegas Sands Corp. ( LVS) and MGM Resorts International ( MGM) have sunk 22.4% and 20.6% YTD, respectively. While some of the downside can be attributed to company-specific headwinds, like allegations of sexual misconduct at Wynn, the Bernstein analyst noted that most of the negative sentiment has been driven by disappointing Macau gambling data.
- MarketWatch•7 hours ago
The chip slowdown is real, but how bad will it be?
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.
- TheStreet.com•31 minutes ago
Nvidia Wipes Nearly $25 Billion From Its Market Cap After Earnings Day Disaster
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.
- CNBC•yesterday
Saudi Arabia is slashing oil shipments to US, a tactic that boosts prices and may rile Trump
Saudi Arabia is loading fewer barrels on ships bound for the United States, a tactic that has boosted oil prices in the past. Sending less oil to the United States means U.S. crude stockpiles are more likely to fall, and shrinking inventories tend to push up oil prices. The move could spark a new conflict with President Donald Trump, who wants to drive down energy costs for Americans.
- InvestorPlace•yesterday
Don’t Sell Advanced Micro Devices Stock Because of Nvidia
A case of tough love for Advanced Micro Devices (NASDAQ:AMD) just got a bit more difficult, as misery loves company in a challenging market environment. If investors can look smartly past the latest bear market warnings, it’s time to put AMD stock on the radar for buying. Blame it on Nvidia (NASDAQ:NVDA).
- MarketWatch•7 hours ago
Google parent Alphabet’s stock becomes 2nd FANG to produce ‘death cross’ and Netflix is next
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.
- Fox Business Videos•2 days ago
Warren Buffett buys bank, tech stocks
Sevens Report Founder Tom Essay on Berkshire Hathaway CEO Warren Buffett’s stock picks.
- TheStreet.com•30 minutes ago
Nvidia Shares Tank as Analysts Cut Price Targets
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.
- Reuters•yesterday
GE Capital sells $1.5 billion healthcare equipment portfolio to TIAA
The sale marks another step in GE's planned $25 billion reduction in GE Capital assets, which were built up as the division financed sales of GE aircraft engines, locomotives, power plants and other products. GE Capital once supplied a large part of GE's profits, but the 2008 financial recession raised funding costs and nearly sank the entire company. GE's healthcare equipment unit makes medical scanners that can produce images of internal organs, bones and tissue.
Associated Press•2 days agoUtility asked last month to hike bills over California fires
A utility facing severe financial pressure amid speculation its equipment may have sparked a deadly Northern California wildfire asked U.S. energy regulators last month for permission to raise its customers' monthly bills to harden its system against wildfires and deliver a sizable increase in profits to shareholders. In an October filing with the Federal Energy Regulatory Commission, Pacific Gas & Electric Co. laid out a variety of dangers confronting its transmission lines running through Northern California, saying its system faced a higher risk of wildfires than any other utility. "The implications of PG&E's exposure to potential liabilities associated with wildfires are dramatically magnified," the filing said.
- MarketWatch•7 hours ago
It’s time to stop lumping Netflix in with the other FAANG stocks, says analyst
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.
Bloomberg•yesterdayBitcoin Cash Clash Is Costing Billions With No End in Sight
The fight was cited Wednesday for contributing to the biggest drop in eight months for Bitcoin, which Bitcoin Cash had split off from last year. Both factions have been ramping up the amount of computing power they own to support their software version to win a race called Nakamoto Consensus, under which whoever has the most computing support wins. Each has pledged to keep going to win the so-called Hash War, where "hash" denotes computing power dedicated to the effort.
- Bloomberg•7 hours ago
Wildfires Are Threatening California's Renewables Strategy
The embattled PG&E Corp. would face higher borrowing costs if its credit rating falls to junk following California’s deadliest and most destructive wildfire. Climate change has made wildfires the new abnormal in the region, but now the fires themselves may make it harder to fight climate change. California has approved a series of measures to rein in carbon emissions, and will need PG&E’s help to achieve many of its goals.
- MarketWatch•5 hours ago
Here’s why you shouldn’t retire super early — even if you can
Despite the many perks of early retirement — waking up whenever you want, for example — it wasn’t the easiest decision. Earnings tend to peak around 48 for men and about 39 for women, according to an analysis by PayScale.
Bloomberg•yesterday'I Didn't Sleep Well Last Night:' Analysts Predict Bitcoin Has Further to Fall
After months of tranquility that became the envy of equity investors, The biggest cryptocurrency roared back into the public consciousness this week with the biggest sell-off since August, another fork and a cameo in a major semiconductor earnings report. Bloomberg Intelligence says the drama’s just starting. Many of Bitcoin’s closest peers, including XRP, the cryptocurrency also known as Ripple, fell in tandem.
