J.C. Penney posts steeper-than-expected drop in same-store sales

J.C. Penney Co Inc reported a steeper-than-expected drop in quarterly comparable-store sales on Tuesday, hit by the exit from selling major appliances and in-store furniture categories, sending its shares down 10% in early trading. The Plano, Texas-based company said sales at stores open for at least 12 months fell 5.5% in the first quarter, bigger than analysts' average estimate of a 4.21% fall, according to IBES data from Refinitiv. The company's net loss nearly doubled to $154 million, or 48 cents per share, in the three months ended May 4.

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  JCPenney posts wider than expected Q1 loss, stock drops

  Yahoo Finance
• J.C. Penney shares sink after wider-than-expected loss

  MarketWatch

Why the Trade War Won't Crush U.S. Corporate Profits

Trade tensions between the U.S. and China will intensify with fresh tariff increases from both sides set to take effect on June 1, a cause of growing concern on Wall Street. While U.S. corporations are exposed to China, Goldman says the exposure is not enough to warrant any serious dent to profits. The very trade imbalance between the U.S. and China that the Trump administration is hoping to rectify highlights the exposures to China that U.S. companies face.

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  China rare earth firms' stocks soar on trade war speculation

  Reuters
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  U.S.-China trade war may put $40 billion retail sales at risk: UBS

  Yahoo Finance Video

Blue States Warned of a SALT Apocalypse. It Hasn't Happened

New York, in fact, saw revenue rise $3.7 billion in April from a year earlier, thanks to a shift in timing of taxpayer payments, a stock market that rallied through much of 2018 and a decade-long economic expansion that's pushed national unemployment to a 50-year low. Similar windfalls arrived in New Jersey, California and Illinois -- states that, like New York, had warned of dire consequences from the law. In all, about 64% of American households paid less in individual income tax for 2018 than they would have had the Tax Cut and Jobs Act not become law, according to the Urban-Brookings Tax Policy Center.

Morgan Stanley Slashes Worst-Case Price for Tesla to $10

“Demand is at the heart of the problem,” analysts led by Adam Jonas said in a note. Jonas lowered his “bear case” for Tesla shares from a previous estimate of $97, which assumes Tesla misses its current sales forecast in China by about half, and kept a price target of $230. The stock fell 2.6% to $200 a share in pre-market trading.

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  Morgan Stanley: This Move by Trump Could Trigger a Recession

  Market Realist
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  Tesla under pressure after Wedbush slashes price target

  Yahoo Finance Video

Chartmaster says these stocks could plunge after sprinting to new highs

Cornerstone Macro's Carter Worth on whether stocks are running out of steam. With CNBC's Bob Pisani and Melissa Lee, and the Fast Money traders, Tim Seymour, Mark Tepper, Dan Nathan and Guy Adami.

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  Traders play shot it or drop it with the big retailers reporting this week

  CNBC Videos
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  Top strategist says even with a trade deal, a 'tech cold war' could linger

  CNBC Videos

Which states have the highest and lowest property taxes?

How much you pay in property taxes often comes down to which side of a county, city or district line you're on. And if you're a homebuyer this spring, it's another important factor to consider while you house hunt. Property taxes largely fund public schools but also other local services like roads and police.

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  Public weighs in on 10 percent Wake Co. property tax hike

  WTVD – Raleigh/Durham
• Highest — and lowest — property taxes in the US: Find out where your state stands

  Fox Business

5 Oversold Stocks That Can Rebound Amid the Trade War

The recent escalation of trade tensions between the U.S. and China has caused stocks to retreat as investors worry that the trade war between the world's two largest economies will be longer than expected. After hitting a high just above $60 a year ago, shares of Charles Schwab have fallen nearly 28% and are now trading at a forward P/E ratio of 15.2 compared to a five-year average of 22.1. Regeneron shares hit a high of more than $600 almost four years ago and are currently trading 50% lower at a forward multiple of 13.6 even though earnings per share (EPS) have doubled over that period.

U.S. eases restrictions on Huawei; founder says U.S. underestimates Chinese firm

NEW YORK/SHANGHAI (Reuters) - The United States has temporarily eased trade restrictions on China's Huawei to minimize disruption for its customers, a move the founder of the world's largest telecoms equipment maker said meant little because it was already prepared for U.S. action. The U.S. Commerce Department blocked Huawei Technologies Co Ltd from buying U.S. goods last week, saying the firm was involved in activities contrary to national security. The move came amid an escalating dispute over trade practices between the United States and China.

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  Equities Fall, Huawei Fallout Spreads, No End To Trade Dispute In Sight

  FX Empire
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  Market Recap for Monday May 20

  Yahoo Finance Video

What Is a Silver Certificate Dollar Bill Worth Today? (SLW, SVM)

A silver certificate dollar bill is representative of a unique piece of history. It no longer carries any monetary value as an exchange for silver, yet collectors still seek out the print. Its history dates back to the 1860s, and the certificate is a unique historical artifact representing a time period when the monetary structure of the United States was changing.

Borrowing from your 401(k) is easy. But should you really break open that piggy bank?

The 401(k) is considered the cornerstone of retirement, but when times get tough, some people treat it like a piggy bank. “We needed to connect a separate in-law suite to the main house to make room for our newborn before her birth,” says Ashley, 34, a financial coach who runs budgetsmadeeasy.com. To pay for the home improvements, the Patricks took out a $25,000 loan from Tyler's 401(k) account.

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  401(k) vs. IRA: IRA: What's the Difference?

  Investopedia
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  The Shocking Number of Americans Without a Retirement Account

  Motley Fool

Damage to Huawei hard to reverse, says Gene Munster

Gene Munster of Loup Ventures and Ed Snyder of Chart Equity Research discuss Huawei on CNBC's "Closing Bell."

Fingerprints and finances: next Wells Fargo CEO will be under regulatory microscope

From submitting their fingerprints to giving up their tax records, Wells Fargo & Co's next chief executive will go through a vetting process that could rival that of top U.S. government officials.     Comptroller of the Currency Joseph Otting said last week he would invoke a little-known law to review Wells Fargo's board pick to replace Tim Sloan, who in March became the second CEO to leave the bank amid a series of customer abuse scandals.     Created during the savings-and-loan crisis, the 1989 law allows regulators to vet and veto candidates for senior roles at banks, but that power is typically reserved for financially troubled firms.

Nordstrom Put Options Popular on Earnings Eve

Ahead of the event, Barron's called JWN stock a "bargain," but it looks like recent options buyers are expecting more downside for the beat-up shares. Nordstrom stock was last seen 0.5% higher at $37.27. The security touched a nearly three-year low of $36.37 last Friday, May 17, and has already lost more than 9% so far in May -- pacing for its worst month since December's 11.8% slide, and a steeper loss than the equity typically averages in May.

4 ways Washington may soon change how you save for retirement

Lawmakers and observers are voicing optimism that closely linked private retirement reform bills, one from the House Ways and Means Committee, and one from the Senate Finance Committee, will soon be merged and sent to President Trump's desk. If passed, it would be the first major retirement legislation since 2006. Richard Neal, chairman of the House Ways and Means Committee, noted that the bill “represents a major bipartisan accomplishment” when it was passed out of his committee.

Liz Weston: Let's get real about health costs in retirement

The Center for Retirement Research at Boston College hasn't updated its figures recently, but back in 2010 estimated a typical couple could spend $260,000 for medical and long-term care, with a 5% risk that costs will exceed $570,000. No wonder 45% of people in their 50s and early 60s have little or no confidence that they'll be able to afford their health care costs once they retire, according to a survey by the University of Michigan. MEDICAL COSTS MAY BE MORE PREDICTABLE THAN YOU THINK The approach of presenting people with a huge, perhaps unattainable, figure has long bothered Jean Young, senior research associate with the Vanguard Center for Investor Research.

Campbell asks international division bidders to reconfirm offers

The race to snap up Campbell Soup Company's international cookie brands is still on. The Camden, N.J.-based company is reportedly working with two companies bidding for its international division — Mondelez International and private equity firm KKR & Co. — according to The Australian Financial Review. Campbell's international division includes Arnott's, the largest biscuit producer in Australia, and Kelsen Group, whose brands include Royal Dansk and Kjeldsens.

Tesla may avert bankruptcy, but it will still need $1 billion in cash

Tesla (TSLA) CEO Elon Musk should keep the phone line open with his banker buddies. “We believe Tesla will have to raise another $1 billion in capital,” Wedbush analyst Dan Ives told Yahoo Finance's “On the Move.” The former Tesla super bull slashed his price target on the stock again on Monday to $230 from $275, which sent shares of the money-losing auto outfit down as much as 5%. The analyst only a month ago cut his rating on Tesla's stock to Neutral from Outperform.

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  Morgan Stanley: This Move by Trump Could Trigger a Recession

  Market Realist
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  Tesla under pressure after Wedbush slashes price target

  Yahoo Finance Video

Taking a Shot on Ford Stock Now Wouldn't Be Completely Crazy

The headlines currently surrounding Ford Motor Company (NYSE:F) are more than a little alarming. Although Ford stock price regained some lost ground on word that new tariffs on imported auto parts wouldn't be imposed for six months, those tariffs are still on the table. In the meantime, Ford's automobile dealer receipts fell 1.1% last month.

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  Here's how tariff hikes between the US and China might affect US retail

  CNBC Videos
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  The Trade War Is Just the Beginning

  The Atlantic

Trump's Huawei ban is hurting these U.S. companies' stock

Huawei, the Chinese telecom giant caught in the center of the U.S.-China trade war, has scrambled to keep its business running after President Donald Trump moved to ban U.S. companies from supplying components to it last week. Many U.S. companies, which are Huawei's suppliers, are also feeling the heat. Chipmakers including Intel (INTC), Qualcomm (QCOM), Xilinx (XLNX), and Broadcom (AVGO) have stopped supplying Huawei until further notice, according to Bloomberg.

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  Google issues message to Huawei phone owners after Trump decision leads to blocked updates

  The Independent
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  Google and Android system start to cut ties with Huawei

  AFP