The U.S. stock market is hours from hitting a notable milestone, but it isn’t one that investors will feel particularly good about. For the S&P, exiting correction territory would require it to rise to 2,839.1, or a 10% gain from its low of the correction.
If you’re planning for retirement, you’re probably thinking about how much you’ll need, how long the money will last, and how much you can safely take out each year. You recognize that in retirement there will be a balancing act between spending on current needs while also preserving enough for your later years. Instead, all-too-often, retirees use simplified rules of thumb to determine how much to take out each year.
Elon Musk can’t follow his own advice. Controversial outbursts are neither new nor unusual for Musk, who frequently spars with critics and investors betting against his company. After Tesla shares fell 22 percent in March -- the steepest monthly drop in more than seven years -- Musk jokingly tweeted on April Fools’ Day that the company had gone bankrupt.
General Electric Co. said it remains unconvinced that demand for Boeing Co.’s potential midrange aircraft, nicknamed the 797, will be enough to justify developing a new engine for the jet. The U.S. turbine maker needs to do more work on the proposals, especially since Boeing has yet to decide whether to recruit an exclusive engine provider or involve two competing suppliers, GE Aviation chief David Joyce said Monday at the Farnborough air show. “We’re still wrestling with what the size of the market is,” Joyce said in a media briefing.
Papa John’s International Inc.’s board put further distance between the pizza chain and its outspoken founder John Schnatter for using a racial slur, agreeing to review all ties to him, evict him from the headquarters, and remove him from all marketing materials. A special committee of independent directors ordered the termination of a so-called founder’s agreement that designated Schnatter as the brand’s face and voice and is requesting he cease media appearances on behalf of the firm, the company said in a statement after a Sunday night board meeting. Schnatter came under pressure after a media report that he used a racial slur and graphic descriptions of violence against minorities in a conversation with the company’s former media agency, Laundry Service.
Here are some things going on today in the world of tech: People are still debating Broadcom’s (AVGO) announcement last week it will spend $19 billion to acquire software maker CA (CA), with a healthy debate over the merits and drawbacks of the deal. Broadcom shares are up $1.88, or 0.9%, at $204.34, while CA is down 3 cents $44.04, just below the deal’s offer price of $44.50. For the bullish view, Piper Jaffray’s Harsh Kumar reiterates an Overweight rating on Broadcom stock, and a $293 price target, after having talked to CFO Tom Krause on Friday, a chat that left him “extremely comfortable with the CA acquisition." "In our humble opinion, it may end up being one of Broadcom’s best acquisitions over the last several years." Kumar writes that Broadcom will tweak some things, leaving others alone.
MARKET PULSE Shares of Advanced Micro Devices Inc. (amd) rose 0.6% in premarket trade Monday, after Stifel Nicolaus raised the price target by 24%, citing data showing that the chipmaker's Zen-based CPU line was tracking in-line to
The "Halftime Report" traders debate KBW's call to upgrade on Wells Fargo to buy.
The United States launched five separate World Trade Organization dispute actions on Monday challenging retaliatory tariffs imposed by China, the European Union, Canada, Mexico and Turkey following U.S. duties on steel and aluminium. The retaliatory tariffs on up to a combined $28.5 billion worth of U.S. exports are illegal under WTO rules, U.S. Trade Representative Robert Lighthizer said in a statement.
This 'Strong Buy' tech stock has won the attention of five top ranked analysts, who have all recently upgraded their recommendations to Buy. Verizon has jumped almost 9% throughout the last three months. The 12-month average price target suggests the stock boasts 10% in upside potential.
Netflix NFLX is scheduled to report earnings after the bell on Monday, but as much as the stock has surged this year, technician Craig Johnson of Piper Jaffray is warning investors against the streaming giant ahead of the event. “There’s a 9 percent implied volatility move coming into the quarter here,” he said Friday on the “Trading Nation” segment of CNBC’s “Power Lunch. In other words, Johnson believes that Netflix is overbought and wants to wait for a pullback before buying the stock, which has soared about 107 percent this year.
Shares of Amazon (NASDAQ:AMZN) just made a new all time high, closing above $1800 for the first time ever. AMZN stock is now within shouting distance of the magical $1 trillion market cap. Amazon is up an astounding 55% so far this year, dwarfing the very respectable 15% gains year-to-date in the major tech stocks (NASDAQ:QQQ).
In the fourth quarter of 2017, Big Blue ended a six-quarter string of declining revenue. Put Spread: Bearish sentiment on an underperforming stock is par for the course, and IBM has shown little that would pull the stock out of its current nosedive.
Drug prices will be a likely focus of yet another health care earnings season, which kicks off on Tuesday before the open with Johnson & Johnson’s financial results. Note the timing: Another pharmaceutical giant, Pfizer Inc. (PFE) , tangled with President Donald Trump last week over drug prices. Pfizer later agreed to postpone recent drug price increases, while encouraging Trump to implement his drug price blueprint this year.
Shares of Cisco CSCO declined 4% to close at $41.78, on Jul 13, following rumors that Amazon Web Services (“AWS”) intends to market network switches to business customers. Per a report, Amazon’s aggressive pricing strategy will not only position it well to foray into the market but also aid it in gaining competitive edge over the companies in the space, including Cisco, Arista Networks ANET, Juniper JNPR, among others.
Options prices suggest that Netflix Inc. shares could hit a record after the company’s highly anticipated earnings report this afternoon. While that’s less than the historical average move of 13.3 percent, a gain of that amount would be enough to send shares of Netflix above their previous intraday high of $423.21, set on June 21. Since June 20, total call open interest has increased 26 percent while put open interest has risen by 10 percent.
Jul.16 -- David Miller, managing director at Imperial Capital, previews second-quarter results from Netflix Inc. as he calls for a target price of $503. He speaks with Bloomberg's Jonathan Ferro on "Bloomberg Markets: The Open."
LONDON/NEW YORK (Reuters) - The world's biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market. Trading desks of oil major BP and merchants Vitol [VITOLV.UL], Gunvor [GGL.UL] and Trafigura [TRAFG.UL] have recorded losses in the tens of millions of dollars each as a result of the "whipsaw" move when the spread reached more than $11.50 a barrel in June, insiders familiar with their performance told Reuters. It highlights the challenges of trading in WTI futures , the benchmark for U.S. crude, when U.S. pipeline and storage infrastructure struggles to keep pace with surging shale output, that has lifted the United States above Saudi Arabia to become the world's second biggest crude producer behind Russia.
Boeing Co. is seeking to rewrite the rules for creating commercial jets as it hones plans for a new midrange aircraft nicknamed the 797. For decades, Boeing pushed its planes to fly ever farther. More recently, Airbus SE has been edging into the niche by bumping up the range of its popular single-aisle jetliner, the A321neo.
Shares of Netflix NFLX added about 0.3% in morning trading Monday, just hours before the video streaming giant is set to release its second-quarter earnings report. U.S. stocks were down in general, and Netflix straddled its Friday close after performing sluggishly over the past few days as investors have grown weary of its sky-high expectations. Netflix has led the FAANG group throughout 2018, cruising through periods of market-wide volatility with ease.
Kinder Morgan Inc KMI is expected to post second-quarter 2018 results on Jul 18. In the last reported quarter, the company delivered positive earnings surprise of 4.8%. Let’s look at the estimate revisions to get a clear picture of what analysts are thinking about the company before earnings release.
Here are four stocks with buy rank and strong income characteristics for investors to consider today, July 16th:Ship Finance International Limited (SFL): This operator of vessels and offshore related assets has witnessed the Zacks Consensus Estimate for
Bank of America's second-quarter profits jumped 33 percent from a year earlier, the company said Monday, as like nearly all other big banks, it benefited greatly from the new tax law. The bank also benefited from the recent rise in interest rates, allowing it to charge more for customers to borrow. On a per-share basis, BofA earned 63 cents a share, beating average projections of earnings of 57 cents per share from industry analysts, according to a survey by FactSet.
Frustrated with OPEC’s inability to help him, U.S. President Donald Trump may have inadvertently found a way of bringing down gasoline prices: Step up the trade war to cut oil consumption. The snag is that it may not work in time for the midterm elections. China will respond to this latest escalation as the president continues to fume over trade deficits, escalating a trade war that no one will win.
Five-star analyst Romit Shah of Nomura has been a confident Tesla bull since he first initiated coverage on the stock last October. As Tesla revs towards unlocking profitability by the third or fourth quarter of this year, Shah is encouraged. In the last week of Tesla's second quarter, the company achieved its own deadline, producing 5,000 Model 3 cars per week.