French spirits maker Pernod Ricard , which is being targeted by activist investor Elliott, posted a 1.3% rise in first-quarter underlying sales, reflecting slower growth rates in China and India. The owner of Mumm champagne, Absolut vodka and Martell cognac said that despite an uncertain environment, it was keeping its forecast for a 5-7% organic rise in full-year profit from recurring operations after last year's 8.7% growth. In the first quarter alone, sales growth reached 6% in China compared to 27% in the year-ago quarter, reflecting notably a decline in Chivas sales due to challenging market conditions.
Apple Inc supplier TSMC raised its 2019 capital spending plan by up to $5 billion on Thursday and forecast a nearly 10% rise in fourth-quarter revenue on strong demand for faster mobile chips and new high-end smartphones. "5G smartphone growth momentum is stronger than we expected...We have good reasons to increase our capex this year and next year," TSMC CEO C.C. Wei told an earnings briefing after reporting the Taiwanese company's strongest quarterly profit growth in more than two years. Smartphone makers including Samsung Electronics Co Ltd and Huawei Technologies Co Ltd are racing to develop phones enabled with the 5G technology, which could be up to 100 times faster than current 4G networks.
It's hard to say what sort of financial instrument Libra is or how it should be regulated because its own governing council hasn't made any decisions yet. As a result, the association's willingness to engage and discuss has translated into fear and uncertainty. Instead of appearing collaborative, their strategy comes off as disorganized.
Netflix Inc. shares surged higher in pre-market trading Thursday after it added more international subscribers to its streaming service than Wall Street had forecast for the third quarter, easing concerns over the impact of rival offerings from Apple , Walt Disney and Amazon . Netflix said 6.255 million new customers were added to its entertainment streaming service, up 6.5% from the same period last year well ahead of the Street consensus forecast of around 6.05 million. Group revenues, Netflix said, rose 31% to $5.245 billion as price hikes in key markets brought in more cash alongside the international additions growth, but still fell shy of Street estimates of $5.52 billion.
Cannabis delivery company and online retailer Driven Deliveries Inc. (OTC: DRVD) announced Tuesday that some of its founders have returned 12,272,616 shares of outstanding common stock to the company's treasury. Effective Oct. 15, Driven Deliveries will have 42,083,024 shares of common stock issued and outstanding. “Former founders had preferred equity, which was rescinded, meaning those shares are back in the treasury and can be issued to new investors or partners, rather than issuing new shares, which would dilute the shareholders,” a company representative told Benzinga.
Peter Grosskopf, Sprott Inc. chief executive officer, discusses the outlook for gold and the economy with Bloomberg's Shery Ahn and Amanda Lang on "Bloomberg Markets."
Shares of Cronos Group Inc. cron)(ca:cron) rampaged in the extended session Wednesday, gaining as much as 41.5% as of 6:22 p.m. Eastern time on heavy volume, before dropping to a 33% gain at 6:45 p.m.
Specifically, he recommended that the cash left to his wife be invested 10% in short-term government bonds and 90% in a very low-cost S&P 500 index fund. Not just any index fund mind you, but a Vanguard fund in particular. Hot Stocks Staging Huge Reversals Whether it be exchange-traded funds (ETFs) or mutual funds, the Oracle of Omaha believes Vanguard funds are the way to go.
Tesla Inc was added to a government list of approved automotive manufacturers, China's industry ministry said on Thursday, as it granted the electric-vehicle maker a certificate it needs to start production in the country. The list was published by the Ministry of Industry and Information Technology. This means "the green light is fully given to Tesla for production in China," said Yale Zhang, head of the Shanghai-based consultancy Automotive Foresight.
Dow Jones futures edged lower overnight, while S&P 500 futures and Nasdaq futures rose slightly. Netflix earnings crushed views Wednesday, while Dow Jones component IBM sales fell yet again. Cronos Group led several big marijuana stock movers overnight.
Telecoms equipment maker Ericsson beat quarterly core earnings expectations on Thursday and lifted its market forecast for this year and its sales target for 2020, saying demand for superfast 5G networks was taking off earlier than expected. 5G networks are at the centre of a brewing technology war between United States and China, as they are expected to host critical functions from autonomous vehicles to smart electric grids and military communications, underscoring their importance to national security. Washington has put Chinese supplier Huawei on a trade blacklist and led a worldwide campaign to convince allies to ban the firm from their 5G networks, alleging its equipment could be used by Beijing for spying - which Huawei has repeatedly denied.
International Business Machines shares were indicated sharply lower in pre-market trading Thursday after the group posted disappointing third quarter earnings in the first full update to include its $34 billion acquisition of Linux-maker Red Hat. IBM's cloud and cognitive software unit, the division in which it placed Red Hat, saw revenues rise 6.4% to $5.28 billion, while IBM's IBM's cloud services revenues rose 11% to $5 billion. "In the third quarter, the in-quarter revenue did not come in as expected we had lower customer business volumes in certain markets and some multi-national clients versus our expectations.
The American Petroleum Institute reported late Wednesday that U.S. crude supplies rose by 10.5 million barrels for the week ended Oct. 11, according to sources. The API report, which was released a day later than usual because of Monday's Columbus Day holiday, also reportedly showed stockpile declines of 934,000 barrels for gasoline and 2.9 million barrels for distillates. Inventory data from the Energy Information Administration will be released Thursday.
Investors have long been told that the ideal portfolio should carry 60% of its holdings in equities and 40% in bonds, a mix that provides greater exposure to historically superior stock returns, while also granting the diversification benefits and lower risk of fixed-income investments. But in a research note published by Bank of America Securities titled “The End of 60/40,” portfolio strategists Derek Harris and Jared Woodard argue that “there are good reasons to reconsider the role of bonds in your portfolio,” and to allocate a greater share toward equities.
Kirk West, executive director at Principal Global Investors, Hong Kong's markets, the economy and the protests. He speaks on “Bloomberg Markets: Asia.
Nestle SA plans to return as much as $20 billion to shareholders by 2022 and indicated an appetite for acquisitions to help Chief Executive Officer Mark Schneider sustain faster growth and better profit margins. Flush with cash after the $10 billion sale of a dermatology unit earlier this month, the Swiss food giant said Thursday that it will start a new share buyback program in January and may complement it with special dividends over the next three years. Schneider is wrapping up his third year at the head of the food giant, during which Nestle's market value has increased by almost $80 billion.
A team that created billions of dollars worth of “spin-ins” at Cisco Systems Inc. lifted the veil Wednesday on the first totally independent company they have spun up in more than 25 years. During their long tenure at Cisco, they were known by their first initials of “MPLS” and were fed millions of dollars by then-CEO John Chambers to independently work on the next big thing. This time the MPLS team has lined up investors who have put up more than $278 million in equity investments as they worked stealthily on Pensando since leaving Cisco in 2016, shortly after Chambers stepped down as CEO.
Hot Stocks Staging Huge Reversals With that in mind, it's worth taking a look at these seven dividend-paying stocks that make items that you can find in the average American kitchen. Dividend Stocks to Buy: PepsiCo PEP Dividend Yield: 2.8% First off, let's start with a double-threat. PepsiCo (NYSE:PEP) is, as most of us are aware, Coca-Cola's leading rival; however, it's a more attractive business than Coca-Cola at this point because of its other business.
Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories. Brent crude , the global benchmark, rose 68 cents, or 1.16%, to settle at $59.42 a barrel. U.S. crude gained 55 cents, or 1.04%, to settle at $53.36.
When it comes to diversified tech giant Alibaba (NYSE:BABA), being an investor comes with its share of harassment. For U.S. investors, profiting in Chinese stocks has been more challenging these days. Many large-cap stocks and industry leaders in China ranging from Tencent (OTCMKTS:TCEHY), to China Mobile (NYSE:CHL), China Life Insurance Company (NYSE:LFC) or China Petroleum & Chemical Corporation (NYSE:SNP) have produced lackluster or negative returns in their U.S.-listed American Depository Receipts.
Like the name suggests, this pattern is simply a base that forms on top of a base. It usually occurs during a period of market turmoil, when even strong stocks come under pressure and consolidate rather than march higher. For a base-on-base pattern to be viable, the new base must form before the stock has risen 20% above its correct buy point from the initial base.
An environment of low interest rates has set off a search for yield and created stretched valuations in risk assets, including the U.S. equity market, according to an International Monetary Fund report released Wednesday. “Equity markets appear to be overvalued in Japan and the United States,” the IMF said, in its latest Global Financial Stability report. When markets have stretched valuations, it raises the possibility of sharp sudden adjustments, the report warned.
Shares of Nio Inc. dropped more than 8% Wednesday, after a report that discussions over a potential large new funding deal had been halted, with investors now leaning on a “bullish engulfing” stock price chart pattern to halt further declines to fresh record lows. The National Business Daily (NBD) reported Tuesday that the China-based electric car maker was in talks with Wuxing District of Huzhou City in eastern China regarding an investment of over 5 billion renminbi, or more than $704.9 million at current exchange rates. According to 36Kr.com, as translated by Google Translate, Nio Chief Executive Bin Li said Tuesday there was not much to disclose, but that Weilai, the Chinese name for Nio that means Blue Sky Coming, was in contact with many local governments.
Stock Futures Point Lower on Wall Street U.S. stock futures declined Wednesday as Wall Street awaited another round of third-quarter earnings reports and global stocks traded mixed as investors monitored Brexit developments. Contracts tied to the Dow Jones Industrial Average fell 66 points, futures for the S&P 500 slipped 8.20 points, and Nasdaq futures were down 19.75 points. The years-long effort by the U.K. to leave the European Union with an exit agreement saw a potential breakthrough as talks extended into a third consecutive day with the aim of bringing a complete text to EU leaders later this week in Brussels.
for the first time since David Solomon took over a year ago. For its chief executive, the underperformance had the added edge of coming months before the bank's long-awaited investor day in January, increasing the pressure on his team to show a pathway to better returns. Mr Solomon's response was to appeal for patience on profitability, pledging that investments in projects such as Goldman's online bank Marcus, its Apple credit card and a transaction banking platform would pan out — despite collectively costing the Wall Street bank a net $450m this year.