- MarketWatch•7 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.
- MarketWatch•1 hour 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, +0.33% 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•10 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
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•yesterday
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•yesterdayMORGAN 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.
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.
- CNBC.com•yesterday
How a conman stole $2 million by impersonating Richard Branson during Hurricane Irma recovery
While the billionaire entrepreneur Richard Branson was largely offline during and after Hurricane Irma, which ravaged the British Virgin Islands in September, a conman impersonated him and stole $2 million. "This story sounds like it has come straight out of a John le Carré book or a James Bond film, but it is sadly all true," the iconic entrepreneur says on his blog Tuesday. Branson found out about the heist when he got back online after the storm. A "very successful businessperson" friend of Branson's wrote asking when he could expect to be repaid the money he had lent Branson to help the British Virgin Islands recover after Irma. "I had no idea what they were talking about," Branson says in
- CNBC Videos•21 hours ago
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.
Reuters•2 days agoAirbus to take majority stake in Bombardier C-Series jet programme
MONTREAL/PARIS (Reuters) - Airbus SE said on Monday it would acquire a majority stake in Bombardier Inc's CSeries programme in a deal that the Canadian plane-and-train-maker said would boost sales and position the company strategically against a potentially costly U.S. trade dispute with Boeing Co . The deal, which would come at no cost for Airbus, would give the European planemaker a 50.01 percent interest in CSeries Aircraft Limited Partnership (CSALP), which manufactures and sells the jets, the companies said. Airbus Chief Executive Tom Enders said the company has offered to assemble some of the narrowbody jets at its U.S. plant in Alabama for orders by American carriers.
Business Insider•13 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.
- Bloomberg•8 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
- Bloomberg•21 hours ago
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
- CNBC Videos•6 hours ago
Insurance company eHealth to launch temporary health plan...
Scott Flanders, the CEO of EHealth, is planning to launch new, temporary health insurance plans in a couple weeks. CNBC's Bertha Coombs talks to Flanders about the rollout.
- CNBC.com•19 hours ago
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
- Money Talks News•1 hour 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.
- CNBC.com•yesterday
The middle class will take the biggest hit from Obamacare subsidy cuts
The Obamacare statute requires health plans to provide cost sharing reduction subsidies to reduce the deductibles and co-pays in the Obamacare compliant individual health insurance market for those who make less than 250 percent of the federal poverty level. It is a mandate. Funding a mandate is not a bailout. In Washington, DC we call failing to fund a mandate an unfunded mandate. The low income people eligible for these subsidies won't be hurt by Trump's action. The law still requires those people to get their cost sharing benefits even though Trump is refusing to pay for them. That means insurers will have to provide the subsidies out of their own pockets. Hence the hefty premium increases
- Zacks•7 hours ago
Can Higher Industrial Segment Profit Drive GE's Q3 Earnings?
Industrial goods manufacturer General Electric Company GE is scheduled to report third-quarter 2017 results before the opening bell on Oct 20. The company is likely to report higher industrial segment profit in the quarter on the back of a change in top management. Whether this could drive the bottom line of the company remains to be seen.
Business Insider•yesterday3 former Tesla factory workers are suing the company over claims of 'racially motivated abuse' (TSLA)
Former Tesla factory workers have filed two separate lawsuits claiming they experienced racial harassment and discrimination. Tesla said the workers didn't file official complaints of racial discrimination during their employment. Three former workers at Tesla's Fremont, California, factory have filed a lawsuit against the company over claims they experienced racial discrimination and harassment on the job.
- The Street•yesterday
Finding the Next Amazon Has Been a Theme of This Market: Jim Cramer
What is the theme of this market? Finding the next Amazon (AMZN) . That's according to TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer. "There's always an attempt to find the next," Cramer said. "When there's an attempt to find the next, you're going to get some inflated prices." Amazon shares are up over 34% since the start of the year. Watch all of Jim Cramer's latest videos, right here: Jim Cramer Reveals When to Buy Shares of Goldman Sachs Video: Jim Cramer Reacts to Netflix's Earnings It's Time for a New Broom to Sweep Clean General Electric, Jim Cramer Says Watch: Jim Cramer Reveals the Best Artificial Intelligence Companies
Business Insider•6 hours agoSteve Mnuchin says the stock market will tumble if Trump's tax plan doesn't pass
Treasury Secretary Steven Mnuchin said the stock market will tank if the GOP tax bill is not passed during an interview on a podcast. Mnuchin also "absolutely guaranteed" the tax bill would be on President Trump's desk by early December. Treasury Secretary Steven Mnuchin said that the key to maintaining the strength of the stock market is the passage of President Donald Trump and GOP leaders' tax reform package.
Reuters•6 hours agoApple and GE team up on software to track power plants, machinery
Apple Inc and General Electric Co say they are working together to make it easier to write software that can track power plants and jet engines on Apple's iPhones and iPads. The companies have come up with a tool for app developers to connect Apple's iOS operating system more easily to Predix, the cloud-based software at the heart of GE's effort to turn itself into a "digital industrial" company. The Predix software connects sensor-laden industrial machines like wind turbines, jet engines and elevators to data centers, so that streams of information from the machines can be analyzed to help predict failures and make the machines run more cost effectively.
Reuters•4 hours agoBig Blue back on the attack, analysts cautious
There was no initial sign of changes to major brokerage trading recommendations for International Business Machines Inc and most shied away from calling a complete turnaround in the company's fortunes. "We were pleased to see the quality of IBM's earnings improve, with IP income and taxes being less of a driver of upside than in prior quarters," Deutsche Bank analyst Sherri Scribner wrote in a note. While IBM has struggled more than peers such as Oracle Corp and Microsoft Corp to adjust their approach to a changing market, the quarterly performance of its software business was noteworthy given its presence in key software markets, Jefferies analyst John DiFucci wrote in a note.
- Bloomberg•10 hours ago
Hours After Xi’s Speech, it Looks Like China Is Buying Stocks
A last-hour surge by some of China’s biggest companies kept the nation’s benchmark stock index in the green following President Xi Jinping’s landmark speech at a twice-a-decade party gathering. The gauge reached its session high in the final five minutes of trading as the two largest-weighted members -- Industrial & Commercial Bank of China Ltd. and PetroChina Co. -- extended gains to more than 2 percent. Late-afternoon buying in large-cap companies during events of national importance has been a hallmark of suspected government intervention in recent years. The ChiNext index of mostly small-cap technology firms closed 0.5 percent lower, while the onshore yuan added 0.1 percent against the U.S. dollar and 10-year bond yields held steady near the highest level since late 2014.
- Zacks•8 hours ago
What's in the Cards for Novartis (NVS) This Earnings Season?
Swiss pharmaceutical company Novartis AG NVS is scheduled to report third-quarter 2017 results on Oct 24. Novartis’ stock has rallied 22.1% year to date compared with the industry’s 21.4% gain. In the last quarter, Novartis delivered a positive earnings surprise of 4.3%.
