Homebuilder stocks fell broadly after industry giant PulteGroup posted lackluster results along with weaker-than-expected housing data. PulteGroup stock sold off Tuesday along with peers NVR, D.R. Horton, LGI Homes and M.D.C. Holdings. PulteGroup earnings of 86 cents per share and revenue of $2.49 billion were modestly above views for EPS of 82 cents and sales of $2.46 billion, according to Zacks Investment Research.
Shares of (SPOT) rose slightly Tuesday as a bullish analyst said the streaming music company is “uniquely positioned to become the global dominant player. Spotify stock (SPOT) was recently up nearly 1% to $148.06 as Macquarie Research analyst Giasone Salati maintained an Outperform rating on the shares while setting a price target of $200, above FactSet's $164 average and among the Street's highest. Spotify is up 29% this year through Monday's close, though a June downgrade from Evercore ISI slowed the rise somewhat.
A gain of 142.14% in 2019 for shares of Shopify Inc. (SHOP) likely couldn't have happened without smart institutions being along for the ride. One thing is clear – the shares show a high amount of unusual trading activity. It's bullish activity because the shares are heading higher on increasing volumes, indicating that a buyer is involved.
Warren first pitched a student debt plan as a presidential candidate in April, and then started discussing the upcoming legislation in June. Taken together, Warren's plans attack student debt in three ways: Cancelling debt, reforming the predatory — or “lousy” — student loan system that's in place, and making college free for all. I was shocked when I woke up one morning … and saw that student loan debt had eclipsed credit card debt,” Rep. Clyburn said at a press conference to unveil the legislation.
One of Under Armour Inc.'s biggest skeptics on Wall Street rose his price target for the sportswear maker by $3 but still recommends selling the stock. Sam Poser of Susquehanna International Group LLP raised his price target for Baltimore-based Under Armour to $16. In an interview he said he reevaluated the stock and said he was "too aggressive on the downside." Poser has been highly critical of Under Armour the last few years as the company has worked to gets inventory under control and improve its distribution between various retailers.
Parting is such sweet sorrow—sometimes. TD Ameritrade stock (ticker: AMTD) has gained just over 7% year to date, but also sports a latest-12-months loss of 12% as investors have worried about the impact of interest rates and regulatory changes. By contrast, AutoNation stock (AN) has risen a market-beating 27.5% in 2019, although the shares are down 5.5% in the latest 12 months, and this will be its second CEO change since February.
Quest Diagnostics shares posted a healthy increase Tuesday after the medical-testing firm passed its quarterly financial checkup with flying colors. The stock rose 4.6% to $102.56 after the Secaucus, N.J. company, which does everything from drug screening to gene-based and molecular testing, beat analyst estimates for second-quarter earnings, revenue and operating margin. Quest earned an adjusted $1.73 a share from continuing operations, beating the $1.68 estimate of analysts surveyed by FactSet.
B9 Beverages, which owns and retails the Bira 91 brand of beer, has been expanding its presence rapidly in India and abroad since its launch in 2015. Founded by the serial entrepreneur Ankur Jain, the company introduced India's urban millennials to the idea of flavoured beer. Bira 91 soon emerged as a popular brand competing with established players such as ABInBev's Haywards, United Breweries-owned Kingfisher, and Carlsberg's Tuborg.
Brunswick Corp. said Tuesday that it has taken actions to cut $30 million to $35 million in costs in its Marine businesses, including its Mercury Marine business in Fond du Lac, that include some cuts to its salaried workforce. Brunswick CEO David Foulkes said in a press release that the latest effort combines with its streamlining initiative in its corporate functional support organization announced a month ago to eliminate about $50 million in costs while resulting in a 9% reduction in the company's global salaried workforce. The cuts will impact about 400 positions across Brunswick, said Lee Gordon, director - Brunswick marine communications and public relations, in an email.
Jeff Williams co-created the Apple Watch and runs the company's global operations. Now he's the heir apparent if CEO Tim Cook were to leave. Bloomberg's Mark Gurman reports on "Bloomberg Markets."
A federal judge won't let AT&T Inc. avoid a case that's getting attention in the cryptocurrency arena. Judge Otis Wright has turned downed the company's push to get a case thrown out, in part, from an AT&T customer, Michael Terpin, according to a court filing earlier this month. The incident began for Terpin in 2017 when his phone suddenly became inoperable because his cell phone number had been hacked, according to the judge's document.
As I write this, the balance in my checking account is $603.49, but I have no idea whether that's good or bad. Is there a “right” amount to have in my checking account? Gilpatrick needs these answers because a cash reserve “is there in case you can't pay your bills,” she says.
French carmaker Peugeot said it would be looking to take up the formal legal status of being a European company, which it said would better reflect the business and the integration of the Opel/Vauxhall businesses. "This business structure, used by a growing number of companies in Europe, is recognized in all member states of the European Union. It would reflect Groupe PSA's European scope, following the successful integration of Opel/Vauxhall," Peugeot said in a statement.
Regardless of how you envision semi-retirement, here are some tips from experts for navigating the transition with ease and ensuring you have enough income and savings to account for health care and other expenses. It's a smart idea to meet with a trusted financial advisor to consider how your taxes, income and savings will be impacted. Use your semi-retirement time wisely.
A year after Tilray made history by becoming the first cannabis company to debut on a major U.S. stock exchange, one prominent value investor is doing a victory dance because he nailed his call on a stock that's taken investors on a wild ride. Whitney Tilson was on Yahoo Finance's The Final Round on September 19, 2018 when Tilray stock hit $300 per share. And while most of Wall Street was cheering the cannabis darling, Tilson was singing a different tune, predicting the stock would plunge by a whopping 90% within a year.
Thanks to shoppers spending cautiously on clothes in recent months — despite a rallying stock market and low 3.7% unemployment rate — retailers of all kinds are sitting on mountains of excess inventory. Now that inventory must be worked off at profit-margin-busting prices in order to make way for the lucrative, full-price garb targeted to back to school shoppers in August and September. That backdrop sets the stage for scores of earnings misses, lowered profit outlooks and downtrodden earnings calls with Wall Street when the retail sector begins to release results in mid-August.
Bayer AG , facing an upcoming trial in St. Louis over allegations that its Roundup weed killer causes cancer, has recruited Missouri-based expert witnesses to make its case in a place where it has century-old roots but where juries often hit companies with huge damages. Four expert witnesses Bayer is seeking to admit hail from Missouri universities, and some legal experts said the company is trying to clinch its first favorable Roundup verdict by emphasizing its reputation as a major local employer. Bayer on Tuesday announced it would create an additional 500 "high-paying" jobs in the St. Louis area.
James Quincey, chairman and chief executive officer at Coca-Cola, discusses second-quarter results as the stock climbs to a record high. He speaks with Bloomberg's Vonnie Quinn on "Bloomberg Markets."
With such huge gains, it's time to start thinking about what Dow Jones stocks to sell. As you'd expect, when the market as a whole rips so much, it sets up some great profit-taking opportunities in individual stocks out of the Dow Jones' 30 components. Defense Stocks to Buy to Fortify Your Portfolio From vulnerable healthcare stocks to overpriced consumer staples plays and more, here are five Dow Jones stocks to sell before the market slides again.
(BMY) stock has badly trailed behind the market this year, but the drugmaker's next earnings report, due on Thursday, is a chance for management to restore confidence among investors, according to (JPM). While results from some drug tests haven't gone the way bulls hoped, the main cause of the slump has been (BMY)'s acquisition of (CELG) (CELG). On Tuesday, JPMorgan analyst Chris Schott reiterated an Overweight rating and a $62 price target for Bristol-Myers Squibb.
You wouldn't know it by looking at the stock market, but one more economic indicator is flashing a warning about the U.S. economy. The indicator is the Chicago Fed National Activity Index, which combines 85 indicators to measure the strength of the economy and inflation in the U.S. The index, which is released monthly, came in at a negative 0.02 on Monday, below economist expectations for a positive 0.1. It was negative for a seventh month in a row.
With AT&T (NYSE:T) set to report its earnings on Wednesday morning, the results are very unlikely to boost AT&T stock. With T stock's dividend yield topping 6% and AT&T owing a staggering total of nearly $196.5 billion as of the end of the first quarter, no one should be surprised if the company cuts its payout. The report that AT&T is looking to sell its Puerto Rico business indicates that it knows it badly needs cash.
The trade war with China is putting new focus on emerging markets, and the risks and rewards for U.S. investors. “Emerging markets are cheap right now,” says Kevin Carter whose Emerging Markets Internet and E-commerce fund (EMQQ) is up 20% so far this year. Four interest rate hikes from the U.S. Federal Reserve in 2018 pummeled the emerging markets, but 2019 could be a year of redemption for those investors who stayed the course.
Finally, the report will tell investors how strong ad impressions growth has been, which plays an important role in revenue. As Facebook's earnings are just one day away, at least one analyst expects big things. Wedbush analyst Michael Pachter maintains an Outperform rating on FB stock, with a $220 price target.
The company also decided to eliminate the COO position, which was held by Eugene Castagna. The layoffs include vice presidents, directors and managers at its headquarters in Union, New Jersey, and at other select locations, the company said. The job cuts follow long-time Chief Executive Officer Steven Temares' departure in May, following pressure from activist investors, who cited the retailer's inability to grow sales and margins.