Wall Street bank Goldman Sachs Group Inc is combining its private-investing arms, with the resulting new division to have about $140 billion in assets, the Wall Street Journal reported on Sunday, citing people familiar with the matter. The bank is looking to combine four different units that invest in private companies, real estate and other hard-to-access deals, according to the report. Goldman said it had no comment.
Goldman Sachs has a new strategy for investors to consider. The firm has now revealed that the most dominant companies in an industry tend to outperform companies with a smaller percentage of market sales. “The market positioning of superstar firms often allows for greater bargaining power over consumers and workers and higher profitability,” Goldman's senior US equity strategist David Kostin told investors.
Like many Americans, Chris Gray got into financial trouble when he accumulated large medical expenses – in his case, for hip surgery four years ago. "The medical bills just start piling up, especially if you can't work," said Gray, a 37-year-old Phoenix resident who works in sales and delivery for a flooring company. Gray's credit score dropped into the subprime category, which made it harder to get loans at attractive rates of interest.
American Airlines Group Inc on Friday asked a federal court to quickly halt an alleged illegal slowdown by mechanics' unions that has become "devastating" to the airline's operations. The world's largest airline by passenger traffic urged the court to order the unions to stop interfering with the airline's operations, three weeks after it had filed a complaint and preliminary injunction motion against them. Earlier in May, American Airlines filed a lawsuit in the Northern District of Texas federal court, accusing the mechanics' unions of directing a slowdown aimed at disrupting operations to strengthen their position in labor talks that began in 2015.
The new unit's exact structure will be determined in the next few months and it will have about $140 billion of assets -- almost the size of KKR & Co. Inc. and about a third the size of Blackstone Group LP, the newspaper said. Goldman Sachs is trying to increase the kind of steady, income-generating business that investors like, the paper said, in a bid to boost its share price. A Goldman Sachs spokesperson didn't immediately return a phone call after regular office hours.
3M is a multi-national technology conglomerate that manufactures industrial, safety and consumer products including the ever-popular post-it notes. The daily chart for 3M shows a huge price gap lower on April 25, after it reported an earnings miss and disappointing guidance. The weekly chart for 3M is negative but oversold with the stock below its five-week modified moving average of $175.95 and below its 200-week simple moving average or "reversion to the mean" at $190.50.
Using recent actions and grades from TheStreet's Quant Ratings and layering on technical analysis of the charts of those stocks, Trifecta Stocks identifies five names each Friday that look bearish. While we will not be weighing in with fundamental analysis we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Regeneron Pharmaceuticals Regeneron Pharmaceuticals recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
Early retirement is a popular dream with a whole movement devoted to it: FIRE, or financial independence, retire early. A December 2017 paper by Professors Maria D. Fitzpatrick and Timothy J. Moore for the National Bureau of Economic Research showed male mortality rates rose 2% starting the month men turn 62.
"Until [former Vice President] Joe Biden entered the race, every candidate was as far left as I have ever seen in my life," Cramer said during an exclusive call with members of his Action Alerts PLUS club for investors. Cramer said some common positions among many of the 2020 Democratic candidates -- from support for "Medicare for All" to promises of cracking down on Wall Street -- could spell bad news for stocks. "Whether they are running to break up the big techs or to have single-payer medicine instead of health insurance or if they favor jailing innocent bankers, they are a motley crew of hard lefters that will be a disaster for the stock market unless they gravitate to the right," Cramer said.
Emerging-market currencies halted a three-week advance on heightened tensions in the Persian Gulf and doubts about a trade deal after President Donald Trump threatened to raise tariffs on China again. Stocks moved in the opposite direction, extending gains for a third week amid bets of easing monetary policy in both developed and emerging economies in response to lower-than-expected growth. The following is a roundup of emerging-markets news and highlights for the week ending June 14.
In the many years I've traded, I've heard an uncountable number of predictions and forecasts. Wall Street loves predictions and forecasts because that is basically what they sell. The predictions and forecasts are interesting, and can help us prepare for volatility ahead, but it is the reaction to changing events that is the most important.
Dozens of corn farmers and those who sell them seed, chemicals and equipment gathered on Thursday at the restaurant in Deer Grove, Illinois, after heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States. James McCune, a farmer from Mineral, Illinois, was unable to plant 85% of his intended corn acres and wanted to commiserate with his fellow farmers by hosting the "Prevent Plant Party" at The Happy Spot. McCune returned his unused corn seed to a local dealer for Pioneer, a part of Corteva Inc, after planting just 900 acres of corn out of the 6,000 acres he intended to put in the ground.
Those who insult Chinese people should pay the price in order to deter would-be offenders from following suit, Chinese state media said in a sharply worded commentary, after remarks by a UBS economist about pigs sparked an outcry in China. Paul Donovan, global chief economist of UBS's wealth management business, said in a podcast on Wednesday that consumer prices in China had risen after an outbreak of African swine fever killed a vast number of pigs and cut pork supplies. It matters if you like eating pork in China," Donovan said in comments that some interpreted as referring to people, not livestock.
The announcement by cloud giant Salesforce.com Inc. (CRM) to purchase data analytics company Tableau Software Inc. (DATA) for about $15.7 billion is likely to spur an arms race among Microsoft Corp. (MSFT), International Business Machines Corp. (IBM) and other major players as they seek to protect their market shares. Citigroup, in a recent note to clients, highlighted the most likely new takeover targets within the cloud, analytics and software businesses.
Trade war and recessionary fears The G20 summit will be significant for risk assets and while we don't know if tariffs will escalate from here, but we do know there's a substantial risk that they will. And while we remain unsure how the Fed will react this week, but we do know that if tariffs escalate, it will be a potent threat to U.S. growth and so the likelihood of an aggressive Fed cut will also rise. Gold represents insurance against those risks.
Adidas AG, Nike Inc. (NYSE: NKE) and Under Armour Inc. (NYSE: UA) are the three largest retailers in the competitive athletic apparel industry. Each company has carved out an impressive market share in a growing and increasingly innovative industry. Adidas is headquartered in Herzogenaurach, Germany, and trades as an American depositary receipt (ADR) in the United States.
Aurora is staking its future on size, positioning itself as the world's largest supplier of cannabis products to the medical market. And large is definitely the right word – Aurora's current production stands at more than 25 metric tons per quarter, and is on track to exceed 600 tons annually by the end of 2020. The company's scale has brought Aurora both benefits and costs.
The chief executive of Boeing said the company made a "mistake" in handling a problematic cockpit warning system in its 737 Max jets before two crashes killed 346 people, and he promised transparency as the aircraft maker works to get the grounded plane back in flight. Speaking before the industry-wide Paris Air Show, Boeing CEO Dennis Muilenburg told reporters Boeing's communication with regulators, customers and the public "was not consistent. The U.S. Federal Aviation Administration has faulted Boeing for not telling regulators for more than a year that a safety indicator in the cockpit of the top-selling plane didn't work as intended.
In another example of corporate resiliency, JNJ was recently given a buy rating with a $157 price target by five-star analyst Joanne Wuensch (Track Record & Ratings) of BMO Capital, after she reviewed the status of current legal action the company faced in the state of Oklahoma in regard to the opioid abuse epidemic. Wuensch notes that the case will likely be resolved quickly, and points out, “Litigation is a common occurrence in the health care sector that takes significant time to resolve, and often headlines are worse than reality. Her price target indicates confidence in the stock, and a 12% upside.
Amazon (AMZN) delivers paper towels and candles specifically for left-handed people, Google (GOOG, GOOGL) provides search results, and Uber (UBER) sends a car—but these forward-facing services sow a complete misunderstanding of the companies, according to a Silicon Valley CEO. “They're all cloud companies,” says John Donahoe, the former eBay CEO (EBAY) and current chief executive of management software company ServiceNow (NOW).
Colorado announced that since the state legalized adult-use cannabis sales in 2014, $1 billion worth of marijuana were sold, while Oregon's Congress passed a bill that would allow it to trade cannabis with other consenting states. In Canada, a committee in the House of Commons called for the decriminalization of the possession of small amounts of drugs, while the U.S. House of Representatives rejected an amendment that Rep. Alexandria Ocasio-Cortez (D-NY) had introduced, which sought to make it easier for scientists to study Schedule I controlled substances like psilocybin – found in mushrooms, MDMA and cannabis. The Church of England said its £8.3 billion ($10.5 billion) Church Commissioners for England fund would start investing in cannabis, cannabis CPG company Coda Signature closed a $24.4 million Series A funding round, and Medicine Man Technologies, Inc. (OTC: MDCL) announced the acquisition of Colombian company Green Equity S.A.S. – marking its third deal this month.
Disney and Comcast lead five top stocks to watch this week working on shallow bases as the stock market uptrend takes a breather. The shallow bases mean these stocks were able to hold up relatively well during the recent stock market correction. Comcast stock and Cadence stock lead the group with IBD Composite Ratings of 98 out of 99. That means their shares outperform 98% of all stocks in the market as measured by key fundamental and technical factors.
Broadcom's stock had been one of the great comeback stories until last night, as Hock Tan, the wily CEO, had seemed to be managing the downturn better than all the others, like Skyworks , Qorvo or NXP Semi . Until last night, when we discovered that the Huawei blacklist might have cost them a $1 billion and the slowdown in their areas of tech another $1 billion. I see panic everywhere in the semis because of this, as it confirms the decline in Micron Technology and Lam Research , among others, that has been happening for a week now.
The most important thing to watch next week is Twitter, Jim Cramer told his Mad Money viewers Friday. -- the Twitter account of President Trump, who's likely to have something to say about China and trade that will send the markets lower. Cramer said the numbers will be all investors care about at GE, but even if Adobe reports great earnings, investors might not care as they rotate away from the cloud stocks and into other sectors.