- MarketWatch•8 hours ago
Court sides with John Deere in barring farm-equipment rival’s use of green and yellow
It took 107 pages for a Kentucky court to explain a ruling that bans any farm-machinery maker except Deere & Co. from using green in combination with yellow for their equipment. The court on Tuesday found in favor of Deere DE, +0.14% in a suit aimed at protecting the company’s trademark coloring and brand. The decision bans Fimco Inc., a South Dakota company that makes agricultural sprayers under the Ag Spray Equipment brand name, from painting them green and yellow. The ruling comes after a one-week trial that took place in June. Deere argued that Fimco’s use of the same hues confused the public about where its products came from and diluted the value of the Deere brand. “The court ruled that
- MarketWatch•18 hours ago
Smart money and dumb money are moving in opposite directions
While all seems calm in the U.S. equity markets, with stocks continuing to hit all-time highs, an interesting trend has emerged beneath the surface. Combing through the latest Commitments of Traders report from the Commodity Futures Trading Commission (CFTC), we found that commercial traders (“smart money”) have a record number of short positions in the Dow Jones Industrial Average DJIA, +0.18% At the same time, noncommercial traders (“dumb money”) have a record number of long positions. You may be thinking “one group thinks stocks will go up, and the other thinks stocks will go down. What’s the big deal?” Here’s the big deal. Buy low, sell high — a pro’s game There’s a strong negative correlation
- MarketWatch•16 hours ago
Kyle Bass says once the stock market starts to crack, this will be the first sign
Critical information for the U.S. trading dayBloomberg NewsKyle Bass says this market resembles the 1987 debacle on steriods. The stock market may never go down again. To mark the occasion, Pension Partner’s Charlie Bilello, the originator of that opening comment, went on a bit of a tweetstorm.
- CNBC Videos•9 hours ago
Which dog of the Dow will make a comeback?
"Fast Money" traders Guy Adami and Tim Seymour debate which of the lagging Dow stocks they see rebounding on the way to 24,000.
The Street•10 hours agoAlibaba's Stock Is Within Striking Distance of a Major Buy Signal
If you think that the FAANGs -- Facebook (FB) , Apple (AAPL) , Amazon (AMZN) , Netflix (NFLX) and Google (aka Alphabet Inc. (GOOG) (GOOGL) ) -- are where all the tech sector action has been in 2017, you're sorely mistaken. That's because one gigantic tech stock has eclipsed the performance from all of those other tech sector stalwarts year-to-date. I'm talking about Alibaba Group Holding Ltd. (BABA) . While China hasn't been grabbing U.S. investors' attention in a meaningful way this year, BABA should be. That's because this gigantic e-commerce platform has been expanding its reach into the big data and cloud-computing space in the People's Republic, a market that's rife with opportunities right
- barrons.com•7 hours ago
Alcoa: Just Another Company Announcing an Earnings Miss
Alcoa's (AA) results used to mark the beginning of earnings season, but now its results threaten to get lost in a sea of other bigger, more important companies. But that doesn't mean we cam simply ignore it, can we? Maybe Alcoa wishes we would, though. Alcoa reported a profit of 72 cents a share--that missed analyst forecasts for 74 cents--even as sales of $3 billion topped expectations for $2.93 billion. Alcoa raised its full-year adjusted EBITDA guidance to $2.4 billion. In its press release, Alcoa said that it "continues to see strong global aluminum demand growth and increased its full-year 2017 estimate to a range of 5.0 to 5.5 percent, from 4.75 to 5.25 percent in the second quarter." It
- Money Talks News•10 hours ago
Student Debt Soars: 5 Ways to Pay Off Your Loans Faster
Student loan debt in the U.S. has reached a new all-time high of $1.4 trillion. Student loans constitute the fastest-growing type of debt. Just about the only good news from Experian’s findings is that late payments have decreased by 10.1 percent since 2009, the year the Great Recession officially ended.
Associated Press•yesterdayTrump's wealth, ranking fall in latest Forbes 400 list
President Donald Trump's ranking in the Forbes list of wealthiest Americans has dropped, as the magazine said the value of some of his Manhattan real estate holdings has declined recently. Forbes ranked the first billionaire president as the 248th-wealthiest person in America and put his wealth at $3.1 billion . The year before, he was ranked 156th and Forbes said he was worth $3.7 billion.
Business Insider•9 hours agoIBM's stock just surged almost 10%, and Morgan Stanley thinks the company is at an 'inflection' point (IBM)
IBM's stock surged nearly 10% on Wednesday following a better-than-expected earnings report. Morgan Stanley sees reasons to be hopeful about the company, but other analyst firms are less optimistic. The venerable tech company's stock rallied early Wednesday and was up as much as 10% after its latest earnings report beat Wall Street's expectations and showed what some see as promising momentum.
- barrons.com•11 hours ago
Apple: Get Ready for Disappointment?
Apple (APPL) is scheduled to report earnings on Nov. 2, and analysts are already out making their predictions of what its announcement will hold. And with the stock trading near its 52-week high, I'm guessing it better be good. But don't go looking to Mizuho's Abhey Lamba and Parthiv Varadarajan for good news. Sure, they expect Apple's earnings and to come in in-line with consensus expectations, but warn that guidance could be underwhelming, and see no reason to change their Neutral rating: Our thesis remains unchanged – we acknowledge the upgrade cycle opportunity, but we continue to see near-term volatility to shipment estimates as the X ramp is delayed, thereby contributing to supply shortages.
- Business Insider•2 days ago
Tesla fired hundreds of workers after bad performance reviews — here's how common that really is
A former Tesla employee told Reuters "about 400 people" in a range of positions were shown the door. As Business Insider's Bryan Logan reported, Tesla declined to confirm how many people were fired. Business Insider spoke to experts who said the firings at Tesla are hardly indicative of a trend in the workplace.
Business Insider•2 days agoMORGAN STANLEY: A stock market correction is 'looking more likely'
Earnings season can be a euphoric time for stocks. A big part of that has to do with how investors approach earnings season. When investors anticipate strong results, stocks tend to rally heading into the season only to fade as results are actually reported, the firm says.
- barrons.com•13 hours ago
Is a Breakup Allergan’s Best Bet?
Is it too soon to talk about breaking up Allergan (AGN)? Bernstein analyst Aaron Gal met with Allergan CEO Brent Saunders yesterday following Monday’s ruling by a federal judge invalidating patents protecting the drug maker’s blockbuster dry-eye therapy Restasis. He published a note detailing his notes from the meeting and highlighting what he called “interesting tidbits” about a range of topics, including about the aftermath of the Restasis ruling, Allergan’s pipeline and plans for capital deployment and the ongoing search for a new chief financial officer. Saunders was also asked about splitting the business. This is how Gal recapped that portion of the conversation. The comment here needs
Reuters•yesterdayVolvo unveils Polestar model in China, looks to rival Tesla 3
Volvo Cars and its Chinese parent have unveiled their first Polestar high performance electric car and pledged to invest 5 billion yuan ($760 million) in the brand, gearing up for intense competition to sell greener cars in the world's biggest auto market. The Swedish car maker took the wraps off the "Polestar 1", a luxury four-seater hybrid coupe in a ceremony in Shanghai - its first salvo as it positions the brand as a competitor to Tesla Inc and Mercedes's AMG division. China has said it wants electric and plug-in hybrid cars to make up at least a fifth of Chinese auto sales by 2025, spurring a raft of investment plans from global automakers in electric vehicles, particularly new joint ventures with Chinese firms.
Business Insider•22 hours agoAn obscure company is ground zero for the biggest debate in the stock market (MDP)
More than 20% of Meredith Corporation's shares are owned by ETFs, with much of that being held in dividend-focused funds. This is among the highest percentages in the US market, and serves as a microcosm for the debate around the effect rapidly-growing ETF investment is having on the stock market. You may not have heard of Meredith Corporation, but its shareholder list highlights a tug-of-war in the stock market.
- CNBC Videos•yesterday
One of Wall Street's biggest bulls says this is what you ...
Jonathan Golub, Credit Suisse chief US equity strategist, discusses what to buy at record highs as well as his S&P 500 price target.
- Bloomberg•yesterday
What China's Party Congress Means for Global Markets
The 19th National Congress of the Communist Party of China begins Wednesday. The conclave, which happens every five years, will mark an important political transition, and discussions are expected to continue, and new officials named, through the first quarter of 2018. Several members of the top policy-making body are expected to retire, though President Xi Jinping is likely to be renominated to his position. The change in the leadership will strengthen his hold on power and elevate his supporters to national office. Yet, rather than just view the congress as a political development, investors need to examine the impending changes for their implications for global markets. These may result from
Reuters•4 hours agoExclusive: Baupost's Klarman resists calls to wipe out Puerto Rico debt
Billionaire investor Seth Klarman on Wednesday resisted calls for Puerto Rico's debt to be wiped out and said the island's residents will be better off in the long run if obligations are honored. Klarman comments came in an email to investors, offering fresh details about how his $30 billion hedge fund Baupost Group sees its bet on Puerto Rican bonds after Hurricane Maria, which largely destroyed the island's infrastructure. "In the case of Puerto Rico, expunging the debt would almost certainly eliminate any ability the Commonwealth would have to borrow money in the future at reasonable rates, which will be critical to the island's rebuilding efforts," Klarman wrote in the email seen by Reuters.
- barrons.com•10 hours ago
General Electric: The Fun’s Just Getting Started
General Electric (GE) is scheduled to report earnings on Friday, and no one is expecting it to be a quiet day. The industrial giant's stock has been beaten up this year amid earnings disappointments, management changes and chatter about a possible dividend cut, and its earnings will be dissected for evidence that the worst is behind General Electric--or still to come. You probably already know where JPMorgan's C. Stephen Tusa and team stand. While they "continue to believe that GE stock should go lower," they also acknowledge that "there are a myriad of potential moves from the company on the way, visibility around which will improve starting this Friday with earnings." Unfortunately, most of those moves won't change the trajectory of General Electric's fundamentals.
Business Insider•13 hours agoA huge health insurer just decided to build its own middleman to manage prescriptions (ANTM, ESRX)
In April, Express Scripts, a pharmacy benefits manager, said Anthem had chosen not to renew its contract, which expires in 2019. Anthem was responsible for roughly 18% of Express Scripts' first quarter 2017 revenue. Pharmacy benefits managers, or PBMs, help negotiate lower prices for prescription drugs for health insurance plans.
Associated Press•5 hours agoAmerican Express CEO Kenneth Chenault to retire next year
Kenneth Chenault, one of the most prominent black corporate leaders and long-time chairman and CEO of American Express, is stepping down next year, the company announced Wednesday. Chenault, 66, will be replaced on Feb. 1 by Stephen Squeri, who will take over as both American Express' CEO and chairman of the board. Squeri, 58, is currently vice chairman at American Express.
- CNBC.com•yesterday
Crypto venture firm Blockchain Capital is raising $150 million for two funds
Blockchain Capital, one of the first venture firms to specialize in bitcoin and crypto projects, is setting out to raise $150 million in two funds, with plans to invest in companies and emerging cryptocurrencies. The firm, based in San Francisco, said in SEC filings on Monday that each fund is raising $75 million. To date, Blockchain Capital IV has raised $60 million and Blockchain Capital Parallel Fund IV has raised $25 million. The two funds are identical in how the money will be put to work, according to a person familiar with the firm. But in the parallel fund, the limited partners will participate by contributing cryptocurrencies like bitcoin and ethereum, as opposed to fiat currencies like
- Bloomberg•16 hours ago
Pfizer's Advil May Be Just the Thing for Sickly Reckitt
Everyone has been talking about Reckitt Benckiser Plc having a problem. Now the consumer group's CEO Rakesh Kapoor is saying the same thing. The group is saddled with a terrible dilemma. The challenge is growth. Third-quarter sales fell 1 percent to 3.2 billion pounds ($4.2 billion) on a like-for-like basis, with the growth guidance for 2017 cut from 2 percent to zero. A host of one-off issues were to blame, not least June's Petya cyberattack. But even on an underlying basis, previously fast-growing Reckitt admits its sales are expanding no more quickly than its markets, at about 2 percent. That, Kapoor says, is unacceptable. The central issue seems to be that Reckitt has just got too big to
- Zacks•15 hours ago
How Marathon Oil (MRO) Stock Stands Out in a Strong Industry
One stock that might be an intriguing choice for investors right now is Marathon Oil Corporation MRO. This is because this security in the Oil and Gas - Integrated - United States space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. This is arguably taking place in the Oil and Gas - Integrated - United States space as it currently has a Zacks Industry Rank of 44 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
- Yahoo Finance•11 hours ago
Treasury Secretary Mnuchin thinks a failure to pass tax reform will send stocks tumbling
Treasury Secretary Steven Mnuchin thinks the stock market’s performance depends on tax reform. “There is no question that the rally in the stock market has baked into it reasonably high expectations of us getting tax cuts and tax reform done,” Mnuchin told Politico’s Ben White in a podcast interview published Wednesday. “To the extent we get the tax deal done, the stock market will go up higher,” Mnuchin added.
