Two major market events that have the potential to send U.S. equity volumes sky-high will collide Friday. The first is the quarterly event known as “quadruple witching” -- when futures and options on indexes and individual stocks expire.
Micron Technology Inc. shares swung from a gain to a loss in the extended session Thursday after the memory chip maker’s outlook fell short of Wall Street estimates. Micron (MU) shares had been up as much as 5% after hours following a strong quarterly earnings report, but were last down 7% in after-hours trading. At the close, Micron shares were up 12% for the year, compared with a 10.7% gain in the PHLX Semiconductor Index (SOX) , a 9.6% rise in the S&P 500 index (SPX) and a 16.3% gain in the tech-heavy Nasdaq Composite Index (COMP) .
Aurora Cannabis is planning for a US initial public offering in October, the company's chief corporate officer said. The Canadian cannabis producer was reportedly in talks with Coca-Cola to make a CBD-infused drink. Marijuana stocks have been red-hot as of late.
Canopy Rivers, the venture-capital arm of Canopy Growth, made its debut on the Toronto Stock Exchange Thursday morning at $18.44 per share. The company, which makes minority investments in burgeoning marijuana companies, in an attempt to become the "Google Ventures of cannabis," found its way onto the exchange via a reverse takeover with a company formerly known as AIM2 Ventures.
Sep.20 -- Bloomberg Intelligence's Anand Srinivasan discusses Micron Technology Inc.'s fourth-quarter earnings with Bloomberg's Joe Weisenthal, Scarlet Fu and Caroline Hyde on "Bloomberg Markets: What'd You Miss?"
Libby Leffler, a former Facebook executive and Google employee, is now the vice president of membership at SoFi. Leffler said she always expects job candidates to negotiate their job offer because it shows how they'll behave once they get hired. Negotiating a job offer is a notoriously harrowing process, especially if you've never done it before and assume the world will explode if you request a dollar more.
Millennial investors have been pilling into Nio, the Tesla of China, shares since its US initial public offering last week. Nio shares have gained 46% since their IPO, and is the 29th most held stock on Robinhood. Nio — the Tencent-backed electric-car startup widely seen as the Tesla of China — has become a darling for investors on the stock-trading app Robinhood, a no-fee brokerage popular among younger traders.
Defense stocks have been catching some bids lately, with many hitting multi-month highs. The nice thing about defense stocks is that there is a recurring secular market. Specifically, defense spending seems like the one thing our government can agree on.
stock plummeted on Thursday, Sept. 20, after the head of its power unit confirmed an issue with a new model of its gas turbine. The Boston-based company discovered an "oxidation issue" that could cause distress on blade components of the HA gas turbine. "Obviously, this was a frustrating development, for us, as well as for our customers," GE Power CEO Russell Stokes wrote in a LinkedIn post.
Morgan Stanley says the gaming performance of Nvidia’s latest graphics card is below its expectations. “As review embargos broke for the new gaming products, performance improvements in older games is not the leap we had initially hoped for,” analyst Joseph Moore says. Morgan Stanley says the gaming performance of Nvidia's NVDA latest graphics card is below its expectations.
In this daily bar chart of PG, below we can see a bullish golden cross of the rising 50-day moving average line and the declining 200-day average line. The daily On-Balance-Volume (OBV) line has been positive since early June and signals that buyers of PG have been more aggressive with heavier volume being transacted on days when the stock has closed higher. The trend-following Moving Average Convergence Divergence (MACD) oscillator has turned up to a fresh outright go long signal.
Many investors have heard of dividend aristocrats, stocks which have increased dividends for at least 25 straight years. Many of these stocks also maintain a dividend yield above the S&P average of 1.9%. Such dividend stocks will likely not appeal to growth-oriented investors.
The first private equity firm focused exclusively on the cannabis industry has spawned three billionaires.Brendan Kennedy, Michael Blue and Christian Groh founded Seattle-based Privateer Holdings Inc. in May 2010 and the firm later invested in Canadian
Sep.19 -- For U.S. marijuana company Tilray, it was double - then nothing. The stock rocketed 94% on CEO Brendan Kennedy's comments, only to see all that gain go up in smoke less than an hour later. Ramy Inocencio explains the highs, lows and last-minute 40% rebound on "Bloomberg Daybreak: Asia."
BOISE, Idaho (AP) _ Micron Technology Inc. (MU) on Thursday reported fiscal fourth-quarter earnings of $4.33 billion. On a per-share basis, the Boise, Idaho-based company said it had net income of $3.56. Earnings,
Advanced Micro Devices (NASDAQ:AMD) is a momentum stock for the ages. Since carving out a low of $9.04 on April 4, AMD stock has risen an astronomic 254%. While still a far cry from the insanity of Tilray (NASDAQ:TLRY) stock’s rocket ship ride, Advanced Micro Devices deserves your attention.
Delta Air Lines is apologizing for its customer service again, this time over a baggage agent who called the police on a black woman who asked to speak to a manager about damage to her suitcase at the Boston Logan International Airport. This is not Delta’s first incident of this sort. Several years ago, Delta dal had to apologize to an African-American doctor for first ignoring and then questioning her credentials when she offered to help another passenger in need.
Traders of Micron Technology Inc. stock options are ready for a bigger-than-usual move in the stock, in either direction, after the memory chip company reports earnings after Thursday’s closing bell. The stock (MU)rallied 2.8% in afteroon trade Thursday, but has tumbled 12% just this month, while a popular chip maker index, the PHLX Semiconductor Index (SOX) has slipped 0.8% in September, and the S&P 500 index (SPX)has edged up 1.1%. Don’t miss: Micron earnings: After a quarter of debate, how bad has the memory market gotten?
Bank stocks have had a rough 2018 so far, but Oppenheimer is expecting strong third quarter earnings reports to spark an upsurge in their share prices, Barron's reports. Banks’ earnings fundamentals are "more solid than any time in the 33 years we have been covering the space, but the perception that the earnings power of these companies is fragile persists," writes Chris Kotowski, senior analyst for large cap banks and brokerage firms at Oppenheimer, as quoted by Barron's. He adds that capital levels are high and loan delinquencies are low, on "altogether better planes than they have ever been before." Another positive is good expense control, with bank expenses up only about 2%, Barron's adds. The KBW Nasdaq Bank Index is trailing the S&P 500 Index (SPX) by a wide margin year-to-date, as are 5 of the 6 largest U.S. banks, Bank of America Corp. ( BAC), Citigroup Inc. ( C), Goldman Sachs Group Inc. ( GS), Morgan Stanley ( MS) and Wells Fargo & Co. ( WFC).
Despite its controversies, Ticketmaster-parent Live Nation Entertainment Inc. has been a winning stock over the past few years. The very things that make the company controversial — high ticket fees and a stronghold on event venues — have helped the company deliver impressive results quarter after quarter. Eventbrite Inc. (EB) priced its initial public offering at $23, the high end of its $21 to $23 range, selling 10 million shares to raise $230 million.
One of the world’s largest marijuana companies is taking its venture capital arm public as the investor frenzy over the nascent pot sector reaches new heights. Canopy Growth Corp., which has surged to a market value of about C$15.3 billion ($11.8 billion), will see its investment platform Canopy Rivers Corp. start trading on the TSX Venture Exchange Thursday through a reverse takeover. Canadian Imperial Bank of Commerce led the deal with GMP Securities LP and Eight Capital, marking the first time a major Canadian bank helped a cannabis company gain a listing on a Canadian exchange.
Robinhood, the no-fee stock trading app, has been one of the bigger success stories in the fintech space, but the startup is facing problems handling an even hotter trend: the cannabis industry. According to Business Insider, Robinhood notified its users Wednesday morning that it suspended new purchases of shares in Aurora Cannabis, a Canadian marijuana producer listed on the Toronto Stock Exchange. Aurora shares are also available to trade in the U.S. on the over-the-counter market under the ticker ACBFF.
Shares of Micron Technology Inc. (mu) are up 4.3% in Thursday morning trading, ahead of the company's crucial fiscal fourth-quarter earnings report. Micron will deliver results after market close, following weeks of speculation as to the state of memory pricing and demand. Mizuho's Vijay Rakesh wrote early Thursday that he expects "a solid quarter" and forecast.
Facebook’s (NASDAQ:FB) second-quarter earnings showed that the company’s multiple headwinds are clearly weighing on its results and outlook. Consequently, Facebook stock fell sharply in the wake of the results. Since these stiff headwinds are unlikely to ease any time soon, investors should avoid owning Facebook stock.
Leadership changes are starting to ripple through Bank of America Corp.’s investment bank as disagreements over risk-taking and a struggle to keep pace with competitors spur high-level departures. On Wednesday, Christian Meissner said he’s stepping down as head of the corporate and investment-banking division he led through the tumultuous years after the financial crisis. More executives may follow Meissner’s lead, they said.