Bank of America Merrill Lynch sees a scary good news-bad news scenario unfolding in 2018: A solid push higher in the first half followed by all sorts of potential trouble after. The S&P 500 would peak out around 2,863 in the scenario, or about 11 percent
Verizon could owe Mozilla Corp., owner of the Firefox web browser, as much as $750 million for two remaining years of a Yahoo deal, according to Bloomberg sources with knowledge of the deal. Earlier this month, Mountain View-based Mozilla said its latest Firefox browser would use Google’s search engine as its default in the U.S., in addition to three other countries, per CNBC .
If the price of crude oil is rising, does that mean it's time to buy energy stocks? According to the Energy Information Administration, U.S. producers cranked out 9.62 million barrels per day in the week ending November 3. Meanwhile, the breakout in crude oil hasn't translated to higher prices for oil stocks.
Earlier this month, Boeing's (BA) market cap overtook General Electric's (GE) knocking the conglomerate from the top of the industrials sector for the first time in decades. It's been a tumultuous year for GE for sure, with the stock down more than 40% year to date, following poor earnings and its dividend cut and leaving investors wondering what to do now. Yet Boeing has been on just the opposite track, climbing more than 71% this year on healthy orders and upbeat earnings. And Boeing looks on track to close out the year with strength. Jefferies' Sheila Kahyaoglu reiterated a Buy rating on the stock today and raised her price target by $12 to $312, writing that she's confident that Boeing can
Jim Cramer pushed back against the theory that stocks are overvalued and pinpointed other areas of the market, like bitcoin, that are.
Toyota Motor Corp. (TM) opened its first U.S. plant in 1988 in Georgetown, Kentucky. Now Toyota is threatening to move Camry production unless the plant quickly cuts costs. The video made the point that Toyota could build a Camry in Japan, ship it to Kentucky, and sell it for a bigger profit than it could by selling a car built in the state.
The Justice Department is citing some surprising authorities in its lawsuit to stop AT&T Inc. from buying Time Warner Inc.—namely the companies themselves. Time and again, the complaint quotes from statements and filings by AT&T and Time Warner to make the government’s case that the $85 billion merger would be bad for customers. The Justice Department strategy puts AT&T and Time Warner in the tricky position of having to explain that while, yes, they did write or say those words, they don’t imply what the government says they imply.
It's been a banner year for some industrial stocks. Boeing (BA) has soared more than 70% in 2017, while Caterpillar (CAT) has climbed almost 50%, and Deere (DE), which released top-notch earnings today, has jumped 40%. And even Honeywell International (HON) is doing just fine: It's gained 30% so far this year. And then there's General Electric (GE). Yes, we all know that GE's in bad shape--it's 43% drop this year makes that obvious--but the question is how bad. In a note released yesterday, Deutsche Bank's John Inch contends it's bad enough that GE deserves to trade at a big discount: Overall, we believe GE should trade at a valuation discount given still aggressive accounting, cash flow pressures
Bitcoin fell the most in a week after the company behind cryptocurrency tether reported a $31 million theft. The amount was taken from the Tether Treasury wallet on Nov. 19 and sent to an unauthorized bitcoin address, according to an announcement on the company’s website posted on Tuesday. Bitcoin dropped as much as 5.4 percent, the most since Nov. 13.
TORONTO/SAN FRANCISCO (Reuters) - Struggling ride-hailing firm Uber [UBER.UL] faces a fresh regulatory crackdown after disclosing it paid hackers $100,000 to keep secret a massive breach last year that exposed personal data from around 57 million accounts. Discovery of the U.S. company's cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, said Dara Khosrowshahi, who replaced co-founder Travis Kalanick as chief executive in August. "None of this should have happened, and I will not make excuses for it," Khosrowshahi said in a blog post.
We issued an updated research report on Wells Fargo & Company WFC on Nov 20. The San Francisco-based company has traditionally followed organic and inorganic growth strategies. However, it is struggling with legal issues and escalating costs.Troubles
Advanced Micro Devices Inc. AMD recently announced that Hewlett Packard Enterprise’s HPE new ProLiant DL385 Gen10 server, which is powered by AMD’s EPYC processor has set new records across SPECrate2017_fp_base and SPECfp_rate2006.Notably, HPE Cloudline
The Walmart (WMT) employee of the future will be focused more on customer service and much less on tasks like searching for a product in the stock room, according to CEO Doug McMillon. “There are things about retail that are not enjoyable,” McMillon said at an event on Tuesday hosted by the Economic Club of New York. Walmart employee restocks a shelf in the grocery section of a Wal-Mart Supercenter in Troy, Ohio.
If you think Black Friday sales are going to get competitive this year, you may be in for a treat while shopping for your Christmas tree. According to the National Christmas Tree Association, there is a shortage of holiday trees in certain states this year—similar to last year—resulting in price hikes, limited supplies and signaling a dying industry. Prices were somewhat higher in 2016 and we expect a modest increase in 2017,” Tim O’Connor, executive director for National Christmas Tree Association, tells FOX Business.
Stocks (^DJI, ^GSPC, ^IXIC) continue to climb as this shortened holiday trading week progresses. All the sectors are in the green, with technology (XLK) leading the pack. Alan Valdes, director of floor operations at Silverbear Capital, joins us live
Rich Ross, Evercore ISI, discusses what stocks to buy at all-time highs.
Kevin Kaiser was on an airplane this summer, staring into his laptop, when he came up with the idea for taking on billionaire pipeline magnate Kelcy Warren. He was scrutinizing a nearly year-old prospectus for Sunoco Logistics Partners LP’s acquisition of Energy Transfer Partners LP, an agreement that merged two parts of Warren’s energy empire. For months, the 30-year-old Hedgeye Risk Management LLC analyst had heard clients complain that the deal -- along with a host of other Energy Transfer moves -- enriched Warren but did little to benefit Energy Transfer Partners unitholders, Kaiser said in an interview. Reading the prospectus, Kaiser realized Energy Transfer Partners investors could band
On Thursday, Nov 16, the House of Representatives finally passed the tax cut legislation, now named the Tax Cuts and Jobs Act. This has taken President Donald Trump and his team a step closer toward realizing their most important agenda — tax reforms. Big banks and tech companies will emerge as winners if tax reforms are implemented.
Apple Inc AAPL CEO Tim Cook has been vocal about augmented reality (AR) for quite some time now. To boost its efforts, Apple has purchased Canada-based AR headset maker, Vrvana for $30 million, per a TechCrunch Report. Vrvana is best known for its Totem headset, which combines AR and virtual reality (VR) technologies.
Fmr. Wells Fargo CEO on taxes and the impact on home buyers 35 Mins Ago | 02:29 There may be concerns about the impact of the Republican tax reform bill on the housing market, but former Wells Fargo CEO Richard Kovacevich told CNBC on Tuesday that it is mainly the rich who will feel the pain. The House GOP plan halves the deduction of mortgage debt for newly purchased homes to $500,000, while the Senate bill leaves it intact at $1 million. However, the Senate proposal calls for the elimination of state and local tax deductions. The House bill limits those deductions. Kovacevich told "Power Lunch" the changes may slow down the real estate market for a short time. However, he doesn't believe
(0:20) - Amazon's Retail Growth and Expansion(2:40) - Whole Foods Acquisition: How Does This Benefit Amazon?(12:45) - Amazon Bookstores Impact On Sector(24:40) - Clothing Brands of Amazon(33:00) - Episode Roundup: Podcast@Zacks.comWelcome to Episode #
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple AAPL, Adobe ADBE, Anheuser-Busch BUD, Tesla TSLA and General Mills GIS. Today, Zacks is promoting its ''Buy'' stock recommendations.
Salesforce.com Inc. CRM posted strong third-quarter fiscal 2018 results with the top and bottom line surpassing the Zacks Consensus Estimate and management’s guided range. The company reported non-GAAP earnings of 39 cents per share, which outpaced the Zacks Consensus Estimate of 37 cents and came ahead of its own guidance range of 31-32 cents as well. Salesforce has returned 58.9% compared with 35.7% growth of the industry it belongs to.
Notable earnings reports expected Tuesday include Campbell’s Soup (CPB), Lowe’s (LOW), Dollar Tree (DLTR), and salesforce.com (CRM). All will not be quiet in the nation’s capital, however, as President Donald Trump is set to pardon his first set of turkeys since taking office at 1 p.m. ET. President Donald Trump will pardon two turkeys on Tuesday at the White House.
Whitman, one the most high-profile executives in the United States, said on Tuesday she would quit as CEO in February and hand over the reins to company veteran Antonio Neri. After reports surfaced that she was being considered for the top job at Uber, Whitman reinforced her dedication to the role in July by saying that she was fully committed to HPE and planned to remain CEO. "We have a lot of work still to do at HPE and I am not going anywhere.