Shares of PG&E Corp. plummeted as much as 32 percent Wednesday after the company said it had exhausted its revolving credit lines, signaling it was shoring up its cash to prepare for a possible credit downgrade to junk. The utility’s filing also may have marked the start of a campaign to get bailed out by California’s lawmakers -- as it was after last year’s fires. “Watching this whole thing play out, it’s like a slow motion train wreck,” said John Bartlett, utility portfolio manager at Reaves Asset Management.
During the third quarter, Berkshire Hathaway snapped up a new position in JPMorgan Chase (JPM) of 35.6 million shares, making it the 10th largest stock holding. “I should’ve [invested],” Buffett said at the time.
Suze Orman broke the internet earlier this month when she told the “Afford Anything” podcast that those buying into the FIRE movement (financial independence, retire early) better save at least $5 million to achieve that goal. “Her views ruffled a lot of feathers, but after crunching the numbers, I have to agree — $5 million sounds about right if you want to retire before the age of 60,” the Financial Samurai blog’s Sam Dogen said. Dogen says 40 is the absolute earliest he’d recommend anybody retire, although even then, that’s asking a lot out of your investments.
Semiconductor stocks, like the rest of the broader tech market, have been under heavy pressure in late 2018. A slowdown in the semiconductor market as well as the tariff wars between China and the U.S. have also affected sentiment in the sector. Although many of these chip stocks, including Intel (NASDAQ:INTC), Advanced Micro Devices (NASDAQ:AMD) and Nvidia (NASDAQ:NVDA), are much cheaper than they were at the start of September, investors should not expect the choppiness in individual share prices to be over yet.
Canopy Growth Corporation saw its shares fall 13% on Wednesday after reporting disappointing earnings that included a revenue decline. Analysts had expected better results from Canopy after Canada launched legal recreational marijuana sales on Oct. 17. Canopy Growth CEO Bruce Linton doesn’t disagree.
PG&E shares plummeted after the company disclosed an ‘electric incident’ just before the massive California wildfires. The utility company discloses it may not have enough insurance coverage to cover damages if its equipment caused the Northern Califor...
Stocks with a strong history of dividend growth year over year form a healthy portfolio with greater scope of capital appreciation as opposed to simple dividend paying stocks or those that have high yields. Dividend growth reflects a sustainable business model, a long track of profitability, rising cash flows, good liquidity, a strong balance sheet and some value characteristics. All these superior fundamentals make dividend growth stocks promising investments for the long term.
A diverse array of growth and value stocks, ranging from small- to mega-cap names, all 10 of the best stocks to buy for 2019 look like attractive opportunities for the long-term investor. While the running gag with Starbucks is there's "one on every corner," that punchline still rings hollow in some parts of the globe. The company's biggest growth opportunity is in the China/Asia Pacific region, where it opened 278 new stores between July and September alone.
The logo and ticker for Capital One are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 21, 2018. The community on the internet known as “churners,” people who look to take advantage of favorable credit card signup bonuses, celebrated this week as Capital One (COF) dramatically improved its Venture credit card, putting a value of over $750 on the bonus points alone. For years, Chase (JPM) has been the leader in doling out high bonuses to attract credit card customers, with the Chase Sapphire Reserve’s 100,000-point bonus setting a new tone for churners and others looking to gain an advantage through credit card optimization.
Sometimes, the stuff that people say about early retirement (and early retirees) is terrible. It is assumed that early retirement is the end of productive life and that unless we’re swimming in millions in cold hard cash, early retirement will eat us alive. As I said in my one-year early retirement performance review, early retirement is all that it’s cracked up to be.
Boeing didn't tell airline pilots about features of a new flight-control system in its 737 MAX that reportedly is a focus of the investigation into last month's deadly crash in Indonesia, according to pilots who fly the jet in the U.S.
Check out the companies making headlines after the bell: Cisco CSCO shares rose more than 4 percent during after-hours trading Wednesday after the company reported earnings of $0.75 a share, beating analysts expectations of $0.72. The company also
A halving of the dividend a month later and Warren Buffett bailing on GE a few months later were further signs of deterioration. Also, that pesky analyst Stephen Tusa of JPMorgan hasn't stopped torturing bulls, with negative note after negative note. All of this has buried GE stock, causing it to fall from $11 before earnings on Oct. 30 to new lows of $7.72 just a few days ago.
L Brands Inc. could bring back the Victoria’s Secret swimsuit line now that the company has signaled no strategy is off limits if it improves profitability, Wells Fargo analysts say. L Brands’ (LB) portfolio includes Victoria’s Secret and Bath & Body Works. Wells Fargo upgraded L Brands to outperform from market weight, with analysts seeing a turnaround on the horizon as the company takes an “‘all options on the table’ mentality.” Analysts don’t expect a turnaround in the near future, but shuttering Henri Bendel and considering options, including a sale, of the La Senza business shows that the company has taken on a new focus.
Consider Gilead Sciences (GILD) and Celgene (CELG) for example. At recent prices of $70 and $75, they traded at market values that aren’t too far above the value of their operating businesses, according to discounted cash flow analysis by Jefferies biotech analyst Michael Yee and his team. Then add if they fall back to their “free pipeline” stock prices.
Shares of chip maker Nvidia Corp. ( NVDA) caught a break this week after one team of analysts upgraded the semiconductor manufacturer ahead of its quarterly earnings results slated for Nov 15. Nvidia, Xilinx to Gain on Burgeoning AI Inferencing Market
PG&E Corp. shares fell another 30% on Wednesday to bring their week-to-date losses to 43%, after the utility said its insurance may not cover the possible losses from the worst wildfire in California history. The parent of Pacific Gas and Electric (PCG) , with about 16 million customers in California, has seen its stock lose 53% of its value in five sessions and is on track to close at its lowest level since September 2003. The company’s bonds were also falling hard and accounted for three of the top 10 most actively traded investment-grade bonds of the day.
Billionaire manager David Tepper's firm had added 100,000 shares of Apple and 1.2 million shares of financial firm State Street by the end of September. Appaloosa cut its position in Facebook by 1.8 million shares, to 3.3 million shares. Appaloosa also more than doubled its position in the utility PG&E by the end of the third quarter.
Semiconductor stocks have had it very easy for the last few years. In looking for semiconductor stocks to dump I’m looking for companies that investors had overreached for, but where the final collapse has not yet come. Put the cash in your pocket while it’s still on the table.
The investments were disclosed in a Wednesday regulatory filing detailing Berkshire's U.S.-listed stocks as of Sept. 30, following a quarter when the Omaha, Nebraska-based conglomerate spent $17.7 billion on equities. According to the filing, Berkshire owned $829 million of PNC stock, $460 million of the insurer Travelers, and $2.13 billion of Oracle, the database software company. “While nervous investors fear the end of the economic recovery, Mr. Buffett is buying economically sensitive bank stocks," said Bill Smead, who runs Smead Capital Management Inc in Seattle and owns Berkshire stock.
While this sounds impressive, it still wasn’t enough to impress BABA stock investors. Although this year’s single day event beat last year’s numbers, Wall Street was still disappointed, so the stock fell on the news. Beyond this recent drop, 2018 has been a generally tough year for Alibaba stock: In fact, it is down 20% year-to-date. The iShares China Large-Cap ETF (NYSEARCA:FXI) is only down 13% for the same period, so even compared to that, BABA stock still lags.
Cisco Systems Inc. shares showed healthy gains in the extended session Wednesday after the networking giant’s earnings topped Wall Street estimates and executives projected confidence in the face of tariffs. Cisco (CSCO) shares were up 5% in after-hours trading following the company’s conference call with analysts. On the conference call, Cisco chairman and chief executive Chuck Robbins said the company is now benefiting more than ever from the shift to cloud computing.
In the wake of this selloff, Nvidia might not have to deliver particularly great numbers in its October quarter (fiscal third quarter) report to get a thumbs-up from investors. Nvidia also provides quarterly sales guidance in its earnings reports. TheStreet will be live-blogging Nvidia's report when it arrives after the close on Thursday, along with its earnings call, which starts at 5:30 p.m. EST.
As wildfires that have claimed 48 lives rage in Northern and Southern California Wednesday, 3,000 miles away Wall Street was turning its back on shares of electric and gas utility PG&E Corp. "While the cause of the Camp Fire is still under investigation, if the Utility's equipment is determined to be the cause, the Utility could be subject to significant liability in excess of insurance coverage that would be expected to have a material impact on PG&E Corporation's and the Utility's financial condition, results of operations, liquidity, and cash flows," the filing said Tuesday. PG&E wasn't the only stock to suffer from Camp Fire fallout Wednesday, however.