Tesla has asked some suppliers to refund money paid by the electric car maker since 2016, the Wall Street Journal reported on Sunday citing a memo. The memo, which the paper said was sent by a global supply manager, described the request as essential to Tesla's continued operation and characterized it as an investment in the car company to continue the long-term growth between both players. Tesla could not be immediately reached for comment, although the WSJ quoted the company as confirming it is seeking price reductions for projects, some of which date back to 2016.
Advanced Micro Devices, Inc.'s ( AMD) stock is about to go on an even bigger ride than the stock has had thus far in 2018. Later the company reported blockbuster results at the end of April, and since then shares have surged by more than 73%, rising to $16.50. The options market suggests that massive volatility will pick up again after the company reports second-quarter results on July 25 after the close of trading.
The Papa John's board of directors has adopted a limited-duration stockholder rights plan to prevent the company's founder, John Schnatter, from taking control of the company. Schnatter resigned as chairman of the board earlier this month after he admitted to using a racial slur on a conference call. The pizza chain Papa John's has adopted a so-called poison pill designed to prevent the company's founder, John Schnatter, from taking over the company.
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All four of these names have very strong cash flows that allow them to not only pay better than 3% dividends, but also to buy back stock. Two are consumer staples, a sector that's been the S&P 500's second-best performer over the past month (up 3.83%). The others are in health care, which has been the S&P 500's No. 3 best sector (+3%) during the past month.
Tech stocks are still where the best action is at. This made us wonder: how is the top analyst on Wall Street choosing to invest? TipRanks -- a platform that ranks Wall Street analysts on financial calls -- pinpoints Canaccord's Richard Davis as the Street's best-performing analyst.
What an end to the week! Although the overall market only lost a tiny amount of ground on Friday, the day’s big winners were huge, as were its losers. Skechers (NYSE:SKX) tumbled to the tune of 21% after it missed last quarter’s earnings estimates and
Bank stocks are poised to put money into your pocket longer-term. The combination of rising interest rates (which supports profit margin expansion for banks), attractive dividends and cheap valuations makes banks a worthwhile sector to bet on, suggests
Fiat Chrysler Automobiles says that the executive in charge of its business in Europe and the Middle East has resigned following long-time CEO Sergio Marchionne's early exit due to his deteriorating health. Alfredo Altavilla resigned Monday, days after the board named the head of Jeep, Mike Manley, to replace the 66-year-old Marchionne as CEO after 14 years in the role. Altavilla, 54, was considered one of the top contenders for the job, and played a key role in the talks for Fiat to acquire Chrysler.
Investors in the popular FAANG acronym shouldn't let a harsh market reaction to mixed earnings from component Netflix shake their confidence. Piper Jaffray analyst Michael Olson continues to expect the FAANG complex to outperform for the rest of
The world's largest oil companies are pumping more natural gas than ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions. Now, the rise of gas-powered electric generation, surging production from U.S shale fields and the burgeoning liquefied natural gas (LNG) industry that makes shipping the fuel possible, have conspired to create a boom. BP Plc , Exxon Mobil Corp , Royal Dutch Shell Plc , Total SA and Chevron Corp have collectively increased natural gas output 15 percent in the past decade thanks to better technology and lower costs, according to data from Wood Mackenzie energy consultancy.
JPMorgan Chase Co.’s (JPM)chief executive, Jamie Dimon, was the highest-paid CEO in the U.S. banking sector last year, snagging a tidy $28.3 million in total compensation, up 3.9% from the previous year, according to S&P Global Market Intelligence. Bank of America Corp. (BAC)CEO Brian Moynihan came in second place with total compensation of $21.3 million, according to the data company, followed by Michael Corbat, CEO of Citigroup Inc. (C) , who took home $17.8 million. The surprise: Fourth place went to Timothy Sloan of Wells Fargo & Co. Inc. (WFC) , who took home $17.5 million, even as his bank continued to slowly recover from a series of scandals involving the creation of unauthorized accounts and imposition of other products and fees on unsuspecting customers.
"We talked a month ago on our June 26 announcement that our plan is to materially shrink the GE Capital balance sheet and we're evaluating multiple structural options across a lot of things to de-risk GE Capital," GE Chief Financial Officer Jamie Miller told TheStreet in a phone interview Friday. GE's Chief Executive Officer John Flannery last month acknowledged that management is working to reduce its long-term care exposure, which forced the company to book a $6.2 billion after-tax charge during the fourth quarter of 2017 and to commit to $15 billion in further contributions over the next seven years to shore up its reserves.
Trump has drawn the auto industry into a trade war that it doesn't want. In the past, Detroit has been willing to deal with Trump, but now it finds itself in an awkward position. The best outcome might be for Trump to win his trade war and declare victory, while essentially nothing changes for the car business.
In an unusual move, Tesla reportedly asked some suppliers to return part of the money it's paid them since 2016, including for past work. According to the Wall Street Journal, which reviewed a memo Tesla sent to a supplier last week, the electric auto maker said it is asking suppliers for refunds to help it reach profitability. This stokes concerns about the company’s cash flow, despite earlier assurances from Tesla founder and CEO Elon Musk that it will be profitable in the third and fourth quarters of this year.
No one can say millennials aren't optimistic. It won't be easy, but retirement planning experts weighed in on how they can reach that lofty goal. Millennials who are just beginning to earn an income or who still might be in college probably don't think saving for retirement should be a big priority when they're just starting out.
All eyes on Wall Street will be looking to Google parent Alphabet (GOOG, GOOGL) on Monday when the Mountain View, California-based tech giant reports second-quarter earnings after the markets close. Heather Bellini, a Goldman Sachs analyst, estimates a profit of $2.23-per-share from Alphabet on revenues of $32.1 billion. Bellini’s is one of the few updated estimates that factors in the record-setting $5.1 billion fine from EU antitrust regulators, who ruled on Wednesday that Google had abused its dominance by forcing device makers to install its search engine and Chrome browser on Android devices.
Qualcomm Inc. is at the end of a nearly two-year wait for China’s government to sign off on its $44 billion purchase of NXP Semiconductors NV. The final authorization could be processed and made public at short notice if China’s political leaders decide to release it. NXP gave Qualcomm until 11:59 p.m. on Wednesday, July 25 in New York to get it done.
It has been about a month since the last earnings report for BlackBerry Limited BB. Will the recent negative trend continue leading up to its next earnings release, or is BB due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Papa John International Inc.’s board is planning to discuss and possibly vote Sunday on whether to adopt a “poison pill” aimed at preventing founder John Schnatter from gaining a controlling interest, the Wall Street Journal reported, citing people familiar with the matter. A company spokesman wasn’t immediately available to comment. A special committee of independent directors ordered the termination of a so-called founder’s agreement that designated Schnatter as the brand’s face and voice and is requesting he cease media appearances on behalf of the firm, the company said in a statement after a Sunday night board meeting.
Biotech stocks have been surging in 2018 as measured by the SPDR S&P Biotech ETF ( XBI), which is up nearly 18%, easily outperforming the S&P 500 rise of 5%. Despite the recent gains, shares of Regeneron Pharmaceuticals, Inc. ( REGN), Seattle Genetics, Inc. ( SGEN) and Intercept Pharmaceuticals, Inc. ( ICPT) may be poised to rise by as much as 20% in the coming weeks based on technical analysis. Based on the technical chart for the Biotech ETF, the sector may increase by another 9%.
Papa John’s International Inc.’s board approved a so-called poison-pill plan to fend off any attempt by founder John Schnatter to gain a controlling interest as the pizza chain seeks distance from its controversial namesake. Adopting the takeover defense is the latest effort by Louisville, Kentucky-based Papa John’s to loosen ties to the founder, who remains a director and owns a 29 percent stake that could be used to mount a challenge. The board adopted a limited-duration stockholder rights plan that would become exercisable if an investor acquired 15 percent or more of Papa John’s shares without the approval of directors, according to a company statement late Sunday.
Momentum has been unimpressive for the full half-year since the peak, and it’s allowing the skeptics to pick apart the market on technical and style points. Thursday marks half a year since the stock market made its last all-time high, when the S&P 500 registered 2,872 after surging more than 7 percent in less than four weeks. The latest upside attempt has been the most promising, and has recently pushed the S&P 500 back above the 2,800 level.
U.S. stock-index futures pointed to a flat open on Monday, as fresh geopolitical worries resurfaced after President Donald Trump tweeted a strong warning to Iran, which worked to overshadow a continuing string of positive corporate earnings. Technology stocks were among the weakest of the day, pressured by a slide in Tesla Motors after a report the electric-car maker asked suppliers for refunds. Dow Jones Industrial Average futures (YMU8) were unchanged at 25,030, while S&P 500 futures (ESU8) rose less than a point to 2,801.50.
The stakes for Elon Musk are high: If he gets the Model 3 right, he will remake a trillion-dollar industry and do more to reduce carbon emissions than anyone in history #tictocnews More from