Thyssenkrupp AG said Thursday that net loss for its fiscal year 2019 widened and that it expects a bigger loss next fiscal year due to restructuring costs. The German industrial conglomerate (DE:TKA) posted a net loss of 304 million euros ($336.5 million) for the fiscal year ended Sept. 30, compared with a loss of EUR62 million a year earlier. The company, which makes steel, elevators and auto components, said its adjusted earnings before interest and taxes fell to EUR802 million from EUR1.44 billion in its previous financial year.
German carmaker BMW on Thursday said it had ordered more than 10 billion euros' ($11.07 billion) worth of battery cells from Chinese battery cell maker Contemporary Amperex Technology Co (CATL) and Samsung SDI . BMW said it had boosted its order with CATL to 7.3 billion euros from an original booking announced in mid-2018 that was worth 4 billion euros. It said the contract would last from 2020 to 2031.
In the spring of 2010, when the stock market was picking up the pieces of the Great Recession, one twenty-something with a law degree and a penchant for flipping stocks was busy licking his wounds from one bad trade after another. “I was bullish on the global economy then, having understood the Fed and Obama would not allow any more core US investment/commercial banks to fail via the bailout and TARP, and quantitative easing,” he wrote in a post.
Stock futures slipped Thursday, but pared larger losses after China's vice premier, Liu He, reportedly said he's “cautiously optimistic” about getting to a preliminary phase 1 trade pact with the U.S. Dow Jones Industrial Average futures (YMZ19) eased 46 points, or 0.2%, to 27,754, while S&P 500 futures (ESZ19) slipped 5.25 points, or 0.2%, to 3,103.75. On Wednesday, the Dow Industrials (DJIA) fell 112.93 points, or 0.4%, to close at 27,821, while the S&P 500 (SPX) lost 0.4% to end at 3,108.46.
The following seven stocks will exhibit one or more value qualities such as a lower than average price-earnings ratio, a low P/E ratio to growth rate or a company selling for less than its discounted cash flows. Here are a few undervalued candidates to add to your portfolio in this frothy market. Equitrans owns, operates, acquires and develops natural gas transmission, storage and water assets in the Appalachian Basin.
During the Lightning Round segment of the Mad Money program callers get a chance to ask Jim Cramer about companies they are interested in. "This is a very speculative company and you need to do your homework," said Cramer. TPTX is a clinical-stage biopharmaceutical company that designs and develops small molecule, targeted oncology therapies.
Analysts at Morgan Stanley on Tuesday upgraded their rating on Broadcom Inc. (avgo) stock to the equivalent of buy, saying they had "increased confidence" in the chip maker's software strategy post Symantec deal. The upgrade follows another Morgan Stanley note that said Broadcom was "particularly well positioned in the data era," able to build on its semiconductor leadership while leveraging its cash flow to diversify into software. A software business provides a nice counterpoint to the more cyclical semiconductor business, the analysts said.
An increasing number of clients could be at risk of feeling the pain of negative interest rates, UBS Group AG Chief Executive Officer Sergio Ermotti said, while keeping a protective hand over his smallest depositors. As low rates persist, and threaten to go even lower, speaking in an interview at a conference in Beijing, Ermotti said the bank may have “no choice” but to pass on more of the cost. He emphasized that it “will not pass negative rates to smaller clients, the personal banking clients.
Ray Dalio, the billionaire founder of investment management firm Bridgewater Associates, talks about the global economy, financial markets, and policies. He speaks at Bloomberg's New Economy Forum in Beijing.
The long-awaited unveiling of the so-called Tesla cybertruck Thursday in Los Angeles marks the electric-car maker's first foray into the pickup segment of the auto market, the most profitable in the industry. A concern among Wall Street analysts is that Tesla will push the design aspects too far to gain a widespread audience beyond the company's hard-core fans. In mid-October, responding with a tweet about the vehicle's design, Musk described the Tesla cybertruck, as he called it, as being "closer to an armored personnel carrier from the future." Musk also has called it a "Blade Runner pickup truck," right out of a sci-fi movie.
Dow Jones futures fell in volatile fashion late Wednesday, along with S&P 500 futures and Nasdaq futures, amid a slew of China news. The stock market rally took a hit Wednesday on reports that a China trade deal may not happen until 2020, though the major indexes pared losses. Apple stock, AMD stock, Tesla stock and other China-exposed names fell, but not by much.
Importantly, the 12-month average price target of $70.17 suggests a nearly 55% upside potential from where the stock is currently trading. See Cimarex Energy stock analysis on TipRanks) ANGI lives in the tech sector, inhabiting the information niche where it holds a portfolio of home improvement brands, and connects customers with the services they need. ANGI Homeservices is the world's largest online marketplace for home improvement services, and connects homeowners with the service pros they need to get jobs done.
The last day has been a troubling time for cryptocurrency holders, with the majority of cryptocurrencies seeing declines totaling more than $10 billion in less than 24 hours. Overall, the entire market capitalization of all cryptocurrencies has fallen by around 5%—which is the second-largest drop in less than a month. As it stands, all cryptocurrencies in the top 30 by market capitalization are in the red, with Bitcoin (BTC), Ethereum (ETH) and XRP down between 4-5% each.
Vlad Tenev, Robinhood Markets Inc. co-founder and chief executive officer, discusses the company's plans to offer its stock-trading service in the U.K. in the first quarter of 2020 and comments on the company's recent leverage glitch. He speaks with Bloomberg's Guy Johnson and Vonnie Quinn on "Bloomberg Markets."
And while most agree that Qualcomm currently has some of the best technology to supply many end-market 5G device makers, there are two potential headwinds in Qualcomm's mid-to-long-term positioning in 5G, as noted by one semiconductor analyst. Importantly, at Qualcomm's analyst day on Tuesday, management said it's looking for 5G units in 2022 of 750 million, cementing the expectation that 5G is a clear growth market. But with the initial growth trajectory in mind, Qualcomm will have to take meaningful market share and here there are two key issues to monitor.
Earnings stability factor: 4. Sysco grew earnings at a 17% annual rate the last five years. Best Dividend Stocks: ADP The provider of HR and payroll solutions has a dividend history that stretches back to at least 1989.
The changing of the guard continues at Wells Fargo under the new leadership of CEO Charlie Scharf. The San Francisco bank said Wednesday that Avid Modjtabai will retire March 31, 2020. Modjtabai, based in San Francisco, is senior executive vice president and head of the bank's payments, virtual solutions and innovation group.
Cannabis stocks rallied for a second day Wednesday, buoyed by a historic congressional committee passage of a bill that aims to lift the federal ban on weed, as well as strong gains for Curaleaf after it posted a narrower-than-expected third-quarter loss. Curaleaf's U.S.-listed shares (CURLF)(CA:CURA)were last up 15%, as investors shrugged off its revenue miss. GMP analyst Robert Fagan, who rates the stock a buy, said the numbers were “largely in line with our relatively high expectations.” The revenue number was below his estimate of $67 million.
After getting mauled in last week's marijuana stocks rout, an analyst on Wednesday said "the worst is over" for Canadian weed giant Canopy Growth as Wall Street's expectations come down to Earth, sending Canopy Growth stock and industry peers racing higher. Later in the day, the House Judiciary Committee later also passed the Marijuana Opportunity, Reinvestment and Expungement Act, or MORE Act, which would decriminalize and deschedule cannabis. The analyst, Bank of America Merrill Lynch's Christopher Carey, upgraded Canopy Growth stock to buy from neutral, saying its stock valuation looked "more reasonable," after disappointing financial results this year battered the stock.
Perceptive bought over 1.4 million shares of AMRN in the third-quarter, bringing the fund's total holding to 7.6 million shares. Edelman's fund first bought into Amarin in Q3 2018, and now holds more than $173 million of AMRN shares. It's not hard to understand why a biotech-focused hedge fund would go large on Amarin.
Intel Corp.'s apology Wednesday to customers about its ongoing supply constraints did not appear to surprise investors, but the news could prove to be an eventual benefit to rival Advanced Micro Devices Inc. “I also want to update you on our actions and investments to improve supply-demand balance and support you with performance-leading Intel products,” wrote Michelle Johnston Holthaus, an Intel (INTC) executive vice president and general manager of sales and marketing. Investors were not ruffled by the news, since Intel reaffirmed its previous guidance for the fourth quarter, which included a forecast for an added $1.2 billion in revenue for the full year.
Additionally, the $109 average price target brings the upside potential to 40%. See BioMarin stock analysis on TipRanks) SAGE Therapeutics (SAGE) SAGE wants to offer better treatment options for patients with neuropsychiatric disorders such as postpartum depression (PPD) and major depressive disorder (MDD). While results from its most recent quarter failed to impress, Cowen thinks that there's plenty of room for growth here.
Would you invest in a fund that charges a 5% management fee and a 44% performance fee? According to performance data cited by Nick Maggiulli of Ritholtz Wealth Management, the Medallion Fund, the flagship offering of Renaissance Technologies, generated a 39% average annual return from 1988 to 2018. Maggiulli calls it “the greatest money-making machine of all time,” considering a $1 investment in the fund during that period would have hypothetically become $20,000, net of fees, while the S&P 500 (SPX)would have grown to $20.
Bristol-Myers Squibb Co. (BMY) on Wednesday said it completed its $74 billion acquisition of Celgene Corp. CELG) nearly a year after announcing the controversial deal. The completion comes after the Federal Trade Commission cleared the merger in a statement on Friday.
United Auto Workers President Gary Jones abruptly resigned Wednesday, capping a tumultuous day that saw union leaders move to oust him, and General Motors accusing rival Fiat Chrysler in a lawsuit of bribing union officials to get more favorable contract terms from the UAW. The news of Jones' resignation came shortly after the UAW's International Executive Board filed paperwork to expel him and Regional Director Vance Pearson from the union over allegations raised by a federal investigation into union corruption that has resulted in multiple arrests starting in 2017. Jones, who has been a UAW member for 44 years and started as a factory worker, stepped down to let the union focus on its core mission of improving the lives of members and their families, Maffeo said.