Thanks to shoppers spending cautiously on clothes in recent months — despite a rallying stock market and low 3.7% unemployment rate — retailers of all kinds are sitting on mountains of excess inventory. Now that inventory must be worked off at profit-margin-busting prices in order to make way for the lucrative, full-price garb targeted to back to school shoppers in August and September. That backdrop sets the stage for scores of earnings misses, lowered profit outlooks and downtrodden earnings calls with Wall Street when the retail sector begins to release results in mid-August.
Sell-side analysts expect Steel Dynamics's EPS to be near 89 cents on sales of $2.82 billion. Steel Dynamics earnings in the same period a year ago was $1.53. Quarterly sales came in at $3.09 billion.
Whirlpool (NYSE: WHR) announces its next round of earnings this Monday, July 22. Here is Benzinga's everything-that-matters guide for the Q2 earnings announcement. Whirlpool earnings will be near $3.69 per share on sales of $5.02 billion, according to analysts.
Brown & Brown (NYSE: BRO) releases its next round of earnings this Monday, July 22. Here's Benzinga's essential guide to Brown & Brown's Q2 earnings report. Wall Street analysts see Brown & Brown reporting earnings of 28 cents per share on sales of $553.25 million.
Two and a half months after the White House banned the purchase of Iran's oil, the nation's crude is continuing to be sent to China where it's being put into what's known as “bonded storage,” say people familiar with operations at several Chinese ports. The store of oil has the potential to push down global prices if Chinese refiners decide to draw on it, even as the Organization of Petroleum Exporting Countries and allies curb production as growth slows in major economies.
Occidental Chief Executive Officer Vicki Hollub and Chairman Eugene Batchelder appear to have negotiated the "extremely risky" transaction because they were worried their oil and gas explorer was in the crosshairs of a potential buyer, Icahn said in a letter that will be sent to Occidental shareholders Monday. "I do believe that Hollub and Batchelder know what's good for them and their personal agendas but do not particularly care what's good for shareholders," Icahn said in the letter, a copy of which was reviewed by Bloomberg. "With [Occidental] weakened and doing poorly, Hollub and Batchelder were fearful there would be a bid for the company which shareholders would accept."
Yes, the Roth IRA gets you an investment account that is totally tax-free at retirement. You can no longer comfortably pay the immediate income taxes due on the money you're contributing to your Roth IRA. Converting to a traditional IRA is less of a financial stretch since the contribution to the fund is taken from gross pay, not takehome pay.
Michael Cuggino, Permanent Portfolio Family of Funds president & portfolio manager, talks about fears of slowing economic growth and why he thinks a rate cut of 25 basis points by the Federal Reserve is already baked in for July. He spoke on July 18 on "Bloomberg Markets."
Credit-reporting company Equifax Inc will pay up to $700 million to settle U.S. federal and state probes into a massive 2017 data breach of personal information that affected around 147 million consumers, authorities said on Monday. The largest-ever settlement for a data breach draws to a close multiple probes into Equifax by the Federal Trade Commission, the Consumer Financial Protection Bureau and nearly all state attorneys general. It also resolves pending class-action lawsuits against the company.
The good news is investors can use diversified exchange traded funds to smooth out the volatility, Cook says. "Market volatility needs to be embraced as today's new norm," he said. The Rise Of Stock Market Volatility Cook points to the increased big percentage moves in the stock market as a sign volatility is heating up.
With financial stress setting in for U.S. shale companies, some are trying to drill their way out of the problem, while others are hoping to boost profitability by cutting costs and implementing spending restraint. “Turbulence and desperation are roiling the struggling fracking industry,” Kathy Hipple and Tom Sanzillo wrote in a note for the Institute for Energy Economics and Financial Analysis (IEEFA). A corporate struggle over control of the company reached a conclusion recently, with the Toby and Derek Rice seizing power.
IBM is unjustifiably one of the cheapest companies offering cloud-based software solutions. Big Blue continues to spew out significant amounts of free cash flow, and its Q2 2019 results show that IBM continues to improve its fundamental operations. Investors' initial reaction was one of dismay at having no update on IBM's $34-billion acquisition of multi-cloud platform operator Red Hat.
Enterprise Financial (NASDAQ: EFSC) unveils its next round of earnings this Monday, July 22. Get prepared with Benzinga's ultimate preview for Enterprise Financial's Q2 earnings. Wall Street analysts see Enterprise Financial reporting earnings of 93 cents per share on revenue of $72.67 million.
The semiconductor industry has been buffeted by headwinds in recent months, with most of the bad news centering on China. The ongoing political tensions, with the attached threat of tariffs and trade barriers, have hit chip makers hard, but that appears to be easing. Intel (INTC) in particular has taken a beating from that factor, as Apple (AAPL) has settled its legal with Qualcomm (QCOM) and regained access to its preferred modem chips and PC makers have been switching to AMD for lower cost processors.
Siew Mee Yeo, Asia Pacific chief investment officer at Conning, discusses Fed policy and her outlook for markets. She speaks on “Bloomberg Markets: Asia.
If you have money in the stock market, you probably own an index fund somewhere, including through target-date retirement funds that own stocks and other assets in mixes that are appropriate for investors of specific ages. Research Affiliates, in its latest report on bubbles, isn't arguing against indexing per se. Nor is it calling for a stock-market crash, though the company's chairman, Rob Arnott, said he views the market as expensive.
Veritex Holdings (NASDAQ: VBTX) announces its next round of earnings this Monday, July 22. Here is Benzinga's everything-that-matters guide for the Q2 earnings announcement. Wall Street expects EPS of 62 cents and sales around $82.53 million.
California's Assembly Bill 5 would likely redesignate Uber and Lyft drivers and many other gig economy workers in the Golden State as employees, but if it makes it into law, the legislation would also spur a seismic shift in the way that many professionals in the state, including consultants, earn a living. Lobbying from various groups has carved out exemptions in AB 5 for several professions, including doctors, insurance agents, securities brokers and real estate agents, but as currently written, the bill doesn't exempt consultants — which means a professional who does work for a client for just a few hours a month would likely have to be hired as a part-time employee. Dr. Bruce Quinn, a medical technology consultant who works in Palo Alto and Los Angeles, told the Silicon Valley Business Journal that with the new labor laws looming, a large biotech company for which he worked occasionally last year wouldn't hire him as a contractor again this spring when he sent the company a new contract.
Under the Virginia settlement, three companies under the Think Finance umbrella – Plain Green LLC, Great Plains Lending and MobiLoans LLC – agreed to repay borrowers the difference between what the firms collected and the limit set by states on rates than can be charged. Virginia has a 12% cap set by its usury law on rates with exceptions for some lenders, such as licensed payday lenders or those making car title loans who can charge higher rates. In June, Texas-based Think Finance, which filed for bankruptcy in October 2017, agreed to cancel and pay back nearly $40 million in loans outstanding and originated by Plain Green.
Early retirement is a hot topic in the financial press of late. If this is a goal of yours, or you are at least thinking about early retirement, it's important to understand what this means to you and to have plan to make it happen. For those contemplating early retirement nowadays, this may mean retirement from the 9-5 corporate world of sitting in a cubicle, in favor of earning money from a hobby or other gig.
U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017. President Donald Trump attacked the Federal Reserve — again. With almost no inflation, our Country is needlessly being forced to pay a MUCH higher interest rate than other countries only because of a very misguided Federal Reserve.
Unfortunately, even during strong economic times, many people are already juggling so many other bills that they just can't imagine adding one more bill onto the pile, according to new research by the Center for Retirement Research at Boston College. In fact, the research concluded, some of these households actually do have enough money in savings, but many feel constrained by credit card debt and other bills. Often, researchers said, people who have some savings tend to mentally allocate some of that money toward upcoming expenses – maybe next month's mortgage payment, the minimum payments on the credit card bills, paying student loan debt or maybe even saving up for new tires by winter.
Pipeline operators get paid regardless of the price of energy they transport. But oil-price volatility impacts MLPs because "their growth depends on energy prices staying high enough to justify drilling for oil and gas in higher cost areas," Kapyrin said. "When the price of oil falls below a certain point, higher cost areas in the U.S. see a lot less drilling," reducing the amount of energy carried through pipelines.
Highly successful stock pickers go through similar training: They must learn how to cut their losses short. This means selling a stock when it's down 7% or 8% from your purchase price. Sounds simple, but many investors have learned the hard way how difficult it is to master the most important rule in investing.
As Poland's biggest refiner publicly criticized the deteriorating quality of Russian oil, a suspect in the investigation into pipeline contamination that has severely disrupted Russian supplies is seeking asylum in Lithuania. Earlier today, Reuters cited an official at PKN Orlen, Poland's biggest refinery, as saying that Russian crude oil has been deteriorating in quality--despite the ongoing cleanup following that April contamination scandal that disrupted supplies and launched a tense backlash among buyers.