Texas Instruments has dumped CEO Brian Crutcher for personal misconduct less than two months after he took over the job, ruining the chip maker's hopes for a smooth transition to new leadership. Crutcher resigned Tuesday after TI's board determined he violated the company's code of conduct with behavior the company said was not consistent with its ethics and core values. TI emphasized Crutcher's transgression wasn't related to its operations or finances.
Several drug companies have recalled medications containing valsartan, an off-patent ingredient used in generic medications to treat heart failure and high blood pressure. The companies blamed the recall on the presence of N-nitrosodimethylamine (NDMA), an impurity thought to be produced because of changes in manufacturing that is classified as a probable cancer-causing agent. The Food and Drug Administration issued an announcement about the voluntary recalls on July 13.
Now that second-quarter earnings season is in swing, we've already heard from a number of big banks, although with mixed reactions. On the payments side of financials, Oppenheimer's Glenn Greene takes a look at Mastercard (MA) and Visa (V) ahead of their reports, writing that he expects their robust run to continue. Greene reiterated an Outperform rating on both stocks Tuesday, and raised his price target on Mastercard to $215 from $197, and for Visa to $154 from $143.
How many credit cards should you have if you want an excellent credit score? A credit score is a personal rating that determines the interest you pay for a loan, or whether you qualify for a loan at all. It's calculated based on payment history, how much you owe, your length of credit history, the types of credit you have and how often you apply for new credit.
Mike Wilson, Morgan Stanley, on the rocky market road ahead. Is it time to get defensive? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Steve Grasso and Guy Adami.
If you were a bit concerned about Bank of America (NYSE:BAC) before earnings, you weren’t alone. Off the price chart, back-winds of corporate tax cuts, conducive interest rates and favorable regulatory environment coupled with internal cost-cutting measures manifested themselves into a better-than-expected profit report for Bank of America. On the price chart, the situation looks equally supportive for shareholders to line their own coffers following an important and lengthy technical incarceration from which BAC bulls can break out of.
Netflix didn't add as many subscribers as expected by a bunch of people on Wall Street who on a quarterly basis govern whether or not it'll be more valuable than Comcast -- and that is probably a bad thing, as it's one of the primary indicators of its future potential for said finance folk. While it's still adding subscribers (a lot of them), it fell below the forecasts it set for itself during the second quarter. This comes amid a spending spree by the company, which is looking to create a ton of original content in order to attract a wider audience and lock them into that Netflix ecosystem.
Alibaba Group (BABA), perceived as the "Amazon of China," is a must-own franchise for some investors -- myself included. From the different analyst reports I've read, there are multiple headwinds causing them to lower EPS projections, including growing competition in e-commerce and cloud services, economic slowing in China and RMB currency depreciation, a one-time step-up in stock compensation related to Ant Financial’s recent financing, and overall increasing investments by Alibaba that will hurt profitability. China's e-Commerce market is expected to pass $1.1 trillion in 2018.
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.
Shares of United rose as much as 4.2 percent in trading after the bell as the airline's second-quarter profit also topped analysts' estimates. The third-largest U.S. airline forecast adjusted profit for the full year at between $7.25 and $8.75 per share, up from its previous range of $7.00 to $8.50 per share. Bigger rivals Delta Air Lines Inc and American Airlines Group Inc have both cut their full-year earnings forecasts in light of rising oil prices.
Papa John’s International Inc.’s founder John Schnatter regrets resigning as chairman after using a racial slur during a training session and believes the company’s board mishandled the situation by pushing him aside without an investigation, according to people familiar with his thinking. The Papa John’s board declined to comment, according to spokesman Peter Collins. Papa John’s shares fell 1 percent on Tuesday to $50.88 at 9:35 a.m. in New York.
Chip-stock analysts continue to like what they are seeing in the area of memory chips, such as DRAM. The main positive bit of news today is the report overnight of comments by Nanya Technology (2408TW), a DRAM producer that has just 3% of the industry’s total DRAM supply. Nanya said it is going to “expand its wafer bit output by 48%,” according to an analysis of the report by Cowen & Co.’s Karl Ackerman.
Goldman Sachs says companies with high profit margins can thrive in an inflationary environment. The firm believes rising wages and higher commodity costs may crimp corporate profit margins. Goldman Sachs is worried about rising commodity prices and higher wages, but the firm believes there is still an investment strategy that can outperform.
After sustaining an uptrend on the markets since bottoming in February, GlaxoSmithKline (NYSE:GSK) still has an attractive profile for income and value investors. The stock’s rock-solid dividend and its growth potential from a number of positive wins
Tuesday, July 17, 2018The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including AT&T (T), Home Depot (HD) and Cisco (CSCO). These research reports
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.
CNBC's Jim Cramer and technician Bob Lang inspect the charts to see if big-cap biotechnology stocks like Gilead and Celgene could have more room to run. Given recent positive trends in key technical indicators, Lang says these stocks could be prime for a rally. CNBC's Jim Cramer was somewhat surprised to see the biotechnology sector bounce back in 2018 after months of weakness.
Brian Crutcher has resigned as Texas Instruments CEO due to personal behavior.
Shares of chipmaker Advanced Micro Devices Inc. ( AMD) have rallied on a bullish note from one team of analysts who sees a positive earnings surprise in store for the Santa Clara, California-based company. AMD stock gained nearly 2% on Monday after popping 5% on Friday to reach its highest level in 10 months. On Friday, Stifel analyst Kevin Cassidy, who rates AMD at buy, increased his 12 month price target on the stock from $17 to $21, representing a nearly 27% upside from Monday close. He cited strength in AMD's EPYC server CPU business, which he wrote is "winning server designs." He expects the model to gain traction ahead of consensus expectations for 5% unit market share exiting the the fourth quarter of 2018.
It's been a wild ride for Under Armour (UAA) in recent years. Duffy reiterated a Buy rating and $27 price target on the shares Tuesday, writing that the second quarter is a "stepping stone towards stabilization" and inflection in Under Armour's North American business. Duffy estimates it will happen in the first half of 2019.
Until recently, Broadcom (NASDAQ:AVGO) CEO Hock Tan had the Midas Touch. The result is that he has created one of the world’s largest semiconductor suppliers. Since early June, Broadcom stock has plunged from $270 to $202.
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.
Texas Instruments Inc.’s Brian Crutcher, who resigned as chief executive officer after just six weeks on the job, could be forced to surrender as much as $43.3 million of stock awards. Crutcher, who resigned after the semiconductor maker said he violated its code of conduct, held stock options and restricted shares valued at about $20.6 million and $22.7 million as of Tuesday’s market close, data compiled by Bloomberg show. An executive who’s fired for cause -- which usually includes policy breaches -- can lose both restricted shares and stock options, Texas Instruments said in its most recent proxy statement.
The company's shares fell as much as 2.5 percent in after-market trading even as Texas Instruments reported second-quarter earnings and sales figures that beat estimates. Chairman Rich Templeton will reassume the roles of chief executive officer and president and the chipmaker is not searching for a replacement, Texas Instruments said. "The violations are related to personal behavior not consistent with the company's ethics and core values, but not related to company strategy, operations or financial reporting," Texas Instruments said in a statement.
The rise of Chinese Internet giants like Alibaba and Tencent happened as the U.S. tech industry largely ignored that market, Yahoo co-founder Jerry Yang said. Famed founders of the current crop of Chinese Internet giants, like Jack Ma at Alibaba and Pony Ma at Tencent thus became “battle-tested entrepreneurs.” They began to develop original business models, he explained.