CHICAGO/NEW YORK (Reuters) - U.S. stores offered deep discounts, entertainment and free gifts to lure bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases. On Thanksgiving Day, U.S. shoppers spent more than $2.87 billion online.
Shares of Qualcomm (QCOM) are up 54 cents, or 0.8%, at $68.67, and Broadcom (AVGO) is up $4.08, or 1.5%, at $279.45, as the maneuvering apparently continues in their M&A battle, according to a report by The New York Post’s Josh Kosman yesterday saying Broadcom “has looked to scuttle” Qualcomm’s existing offer to purchase NXP Semiconductors (NXPI). Given that many believe the NXP buy is pivotal for Qualcomm, Bernstein’s Stacy Rasgon today opines that Broadcom has left Qualcomm management with three not so good options. The Post story says Broadcom is considering raising its bid for Qualcomm, which was rejected two weeks ago by Qualcomm management, to $77 from $70. But a condition would appear
The Blackstone Group L.P. BX has lately been witnessing downward revisions. The Zacks Consensus Estimate for earnings of $2.75 for 2017 declined 1.1% over the last 60 days. The stock carries a Zacks Rank #3 (Hold) with an unimpressive Growth Score of F. Our research shows that stocks with a Growth Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer the best upside potential.
It has been about a month since the last earnings report for Advanced Micro Devices, Inc. AMD. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. AMD reported non-GAAP earnings of 10 cents per share compared with 3 cents per share in the year-ago quarter.
Per a recent FierceTelecom report, Verizon Communications Inc VZ has come up with a range of wireline and wireless offers for Thanksgiving shoppers.Currently, Verizon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank
According to an Israeli newspaper, Teva Pharmaceutical Industries Ltd. TEVA is expected to reduce its workforce by about 4000. As per the daily, Teva is also planning to lay off its current president of global research and development and its chief scientific officer, Michael Hayden. Meanwhile, the company is facing significant challenges in the form of generic competition for Copaxone, new competition for branded products, pricing erosion in the U.S. generics business, lower-than-expected contribution from new generic launches and a massive debt load.
The benchmark S&P 500 and the blue-chip Dow Jones industrials posted weekly gains for the first time in three weeks while the Nasdaq Composite posted its best weekly performance since the week to Sept. 1. The stock market had a half session on what is known as Black Friday, the day after the Thanksgiving holiday and the unofficial start of the U.S. holiday shopping season.
Amazon forked out $13.7 billion for Whole Foods to build its position in the grocery supply chain, leverage Whole Foods’ 434 retail outlets for delivering an omnichannel experience and tap the growing number of people doing their grocery shopping online. About 12% of grocery shoppers used online channels in 2016, but with millennials beginning to build their families, this percentage is on the rise. Moreover, Amazon really knows its customers on the basis of the tons of data it has accumulated about its patrons over the years.
On Nov 29, Zacks Investment Research upgraded Hormel Foods Corporation HRL to a Zacks Rank #2 (Buy) from a Zacks Rank #3 (Hold). We perceive that the upside is primarily stemmed by the company’s robust fourth-quarter fiscal 2017 results. Going by the
Nov.23 -- S&P Global Chief Economist Asia-Pacific Paul Gruenwald discusses China's economy and talks about the country's credit data. He speaks on "Bloomberg Daybreak: Asia."
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.
A federal lawsuit set to go to trial next month marks the latest legal action brought against former Arizona Sheriff Joe Arpaio over allegations that he pursued a trumped-up criminal case to get publicity and embarrass an adversary. One of Flake's sons filed a malicious-prosecution lawsuit, saying Arpaio pursued felony animal cruelty charges against him and his then-wife in a bid to do political damage to the senator and gain publicity. Austin Flake and his wife were charged in the heat-exhaustion deaths of 21 dogs in June 2014 at a kennel operated by his in-laws.
"We also made clear that our forensic investigation was ongoing," Uber said. Uber described its early discussion with SoftBank when asked to comment on a Thursday Wall Street Journal report on the disclosure, which the newspaper said occurred about three weeks ago.
Macy's stock rose 4% to $21.45 on Black Friday, outperforming other large retailers. CEO Jeff Gennette said on CNBC the company had "very robust online demand" on Black Friday this year. The stock is struggling amidst an ongoing retail apocalypse and is down 39.01% this year.
CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
Yum! Brands, Inc. YUM remains on track to achieve its target announced under the three-year strategic transformation plan, following the separation of the company’s China division. Notably, the company’s transformation and growth strategy involves greater focus on the development of its three iconic global brands — KFC, Pizza Hut and Taco Bell, increasing its franchise ownership and creating a leaner, more efficient cost structure. Currently, Yum! Brands owns, operates and franchises over 44,000 restaurants in more than 135 countries and territories.
General Dynamics Corp.’s GD business division, Ordnance and Tactical Systems secured a contract worth $14.7 million for supplying machine gun barrels. Per the three-year contract with no option periods, the machine gun barrels will be used by the U.S. Army. It will be executed in Vermont and will utilize Army working capital funds of fiscal 2018 through 2021.
HONG KONG (AP) — Asian stock markets were mostly lower Friday with investors finding little guidance with Wall Street closed for the Thanksgiving holiday and Chinese markets in focus after a big sell-off the previous day.KEEPING SCORE: Japanese shares
Today is Black Friday, of course — the day retailers traditionally turn a profit on their ledgers, switching from red ink to black. Stock market participants will be paying extra attention to how companies like Walmart WMT and Tiffany’s TIF perform in their fiscal fourth quarters, especially as Amazon’s AMZN online juggernaut continues relatively unabated. Can companies like Macy’s M beat back Amazon’s extensive stock and ease of delivery?
Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. One such company that might be well-positioned for future earnings growth is Arista Networks, Inc. ANET.
Black Friday usually offers a galore of shopping deals but Cyber Monday is likely to be more tempting. Bargain hunters are expected to take to the Internet on Cyber Monday (Nov 27), which is anticipated to be the busiest online shopping day in history. According to a recent survey by National Retail Federation, as many as 78 million Americans, representing 48% of consumers, prefer shopping on Cyber Monday.
Analysts gave differing outlooks for U.S. shale output in a briefing to officials from the Organization of Petroleum Exporting Countries, stoking concern ahead of OPEC’s planned meeting on Nov. 30, according to people with knowledge of the discussions. The analysts included Andy Hall, the veteran crude trader who closed his hedge fund this year, said the people, who asked not to be identified because the briefing was private. The duration of any extension in output limits will depend partly on estimates of future supplies of U.S. shale and other competing crudes. OPEC and allied producers including Russia are to gather next week in Vienna to assess oil markets and decide whether to extend their historic cuts beyond March.
The market value of Chinese companies listed outside China is sneaky large, something that American billionaire Mark Cuban hinted at in a tweet aimed at President Donald Trump. Chinese companies with their primary equity listings in Hong Kong and not traded on the mainland have a combined market value of more than $2 trillion, data compiled by Bloomberg show. That includes market cap leader Tencent Holdings Ltd. The biggest 130 companies with a primary listing in the U.S., such as Alibaba Group Holding Ltd., Baidu Inc. and JD.com Inc., add about $900 billion. That’s about parity with Brazil’s equity market capitalization. Alibaba, based in Hangzhou and listed in New York, was Cuban’s case in
JPMorgan is one of the best financial management companies in the world. It has a legacy of investment management since 1865. Also, JPMorgan is the eighth-largest mutual fund firm in the United States and prides itself as the nation’s leader in equity
Synopsys Inc. SNPS is set to release fourth-quarter fiscal 2017 results on Nov 29. The company has a decent earnings surprise history having beaten the Zacks Consensus Estimate twice while matching the same on two occasions in the trailing four quarters. It has an average positive earnings surprise of 5.7%.