Reuters•12 hours agoTrump's revenge: U.S. oil floods Europe, hurting OPEC and Russia
MOSCOW/LONDON (Reuters) - As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and one that has helped elevate benchmark Brent prices close to four-year highs. Now, the relatively high prices brought about by that pact, coupled with surging U.S. output, are making it harder to sell Russian, Nigerian and other oil grades in Europe, traders said.
Associated Press•15 hours agoUS brands suffer collateral damage in Chinese corporate war
It was looking like a banner year for business in China. The U.S. clothing company was expecting a 20 percent jump in online sales on Alibaba's Tmall, thanks to the e-commerce giant's massive reach. The company refused to sign an exclusive contract with Alibaba, and instead participated in a big sale promotion with its archrival, JD.com Inc. Tmall punished them by taking steps to cut traffic to their storefront, two executives told The Associated Press.
Business Insider•20 hours agoBitcoin Cash has risen 80% over the last week
Bitcoin Cash is up 17% against the dollar on Monday. The cryptocurrency has risen 80% over the last seven days. An upcoming 'fork' of the currency — a change to its underlying code — appears to be supporting the price rally. Follow the live Bitcoin Cash
- CNBC Videos•17 hours ago
Sears CEO Eddie Lampert's hedge fund ESL proposes to buy ...
ESL Investments, the hedge fund led by the CEO of Sears Holdings, Eddie Lampert, has made a proposal to buy some of the retailer's assets.
- CNBC.com•11 hours ago
Tax bill will slash by half the number of homeowners claiming the mortgage deduction
Tax returns using mortgage interest deduction Already, the deduction was not used by most taxpayers. Of the 150 million or so tax returns the IRS has received annually in recent years, just 20 percent claimed the deduction, according to research from the Urban Brookings Tax Policy Center. The anticipated drop is largely due to the near-doubling of the standard deduction that took effect Jan. 1 under the new tax law. Fewer taxpayers are expected to itemize their deductions, which is the only way to take advantage of the tax break for interest paid on mortgages. The new report estimates that 18 million households will itemize deductions this year, down from 46.5 million last year. Taxpayers would
InvestorPlace•15 hours agoA Smarter Nvidia Corporation Play for a Potential 500% Return
According to some market pundits, issues like Apple Inc.’s (NASDAQ:AAPL) woes, China trade war concerns and today’s much more volatile and erratic cryptocurrency market can all be fingered as reasons why investors should stay away from Nvidia stock. If you’re a buyer of those markets, Nvidia — whose chips are leaders in all those areas — should sound attractive. This appears to be the case for Nvidia stock right now–and that’s good news for bulls.
- Bloomberg•13 hours ago
AT&T Defends Time Warner Deal's Cost Savings From U.S. Assault
AT&T Inc. attacked the U.S. government expert who disputes the company’s claim that its takeover of Time Warner Inc. would lead to $2.5 billion in cost savings. Rob Walters, a lawyer for AT&T, tried Monday to undermine the Justice Department’s expert, Ronald Quintero, saying he ignored AT&T’s history of successfully integrating companies and achieving projected savings. Walters also said that in a separate case in which he testified as an expert, Quintero’s testimony was "utterly discredited" by a judge.
- InvestorPlace•12 hours ago
Investors Are Dumping Altria Group Inc Stock Without Looking at the Facts
The usually reliable Altria Group Inc (NYSE:MO) is off to a horrific start this year, with MO stock shedding 18%. For technical analysts, the recent break below $60 was highly discouraging. In short, MO stock must regain its footing quickly due to the significant technical damage.
- InvestorPlace•15 hours ago
Bank of America Corp Isn’t Ready for Upcoming Challenges
It took a few months after I wrote my piece, but Bank of America stock eventually rocketed past its doldrums. On a year-to-date basis, Bank of America stock is up 2%. About two weeks ago, Bank of America Vice Chairman Anne Finucane stated that “it’s not our intent to underwrite or finance military-style firearms.” BAC’s firearms-related clients include Vista Outdoor Inc (NYSE:VSTO), Remington, and Sturm Ruger & Company Inc (NYSE:RGR).
- InvestorPlace•16 hours ago
Kinder Morgan Inc Finally Gives Investors What They Want
Pipelines were supposed to be safe tollways that produced plenty of cash flows. Kinder Morgan stock has pretty much languished since that fateful day. Moves to right the ship at Kinder Morgan have begun to work and KMI has finally given long-suffering shareholders what they wanted all the time — a big return to dividend growth.
- CNBC.com•yesterday
The Trump stock market looks a lot like Reagan's, and that may not be a good thing
Reagan's stock market gives clues for the Dow's next move: Acampora 2:27 PM ET Fri, 20 April 2018 | 01:53 Donald Trump, like Ronald Reagan before him, is an outside-the-beltway president. That recently prompted longtime market watcher Ralph Acampora to investigate whether the two had anything else in common. What he found could be a warning to the stock market. "Ronald Reagan had a six-month honeymoon," Acampora, director of technical research at Altaira Capital Partners, told CNBC's "Futures Now" last week. "The percentage gain was roughly about 10 percent." When Reagan was sworn into office on Jan. 20, 1981, the Dow Jones Industrial Average was trading at around 950. The index, which at
- Zacks•23 hours ago
Micron (MU) Down 14.1% Since Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Micron Technology, Inc. MU. 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 drivers. Micron reported outstanding quarterly results for the second quarter of fiscal 2018.
- Bloomberg•19 hours ago
The Total Witch Hunt Around AT&T’s Power Grab
Just as lawyers for AT&T Inc. wrap up what most have considered to be a strong defense of the Time Warner Inc. megamerger, information has trickled out that may test the company’s credibility. AT&T, the No. 2 wireless carrier in the U.S., and its larger rival Verizon Communications Inc. are reportedly under investigation by U.S. antitrust officials over whether the companies colluded to make it harder for customers to switch carriers. The probe has to do with new electronic SIM, or eSIM, technology that allows consumers to make the switch by changing settings on their phone or tablet, rather than having to physically swap out a SIM card chip or go through their carrier. The Justice Department
- Zacks•15 hours ago
United Parcel Service (UPS) Q1 Earnings: What's in Store?
United Parcel Service, Inc. UPS is scheduled to report first-quarter 2018 results on Apr 26, before the market opens. Revenues improved 11.2% to $18,829 million from the year-ago quarter, outpacing the Zacks Consensus Estimate of $18,190.5 million.
- Zacks•13 hours ago
Should You Buy Texas Instruments (TXN) Stock Ahead of Earnings?
Shares of Texas Instruments TXN dipped into the red during early afternoon trading Monday, just one day before the chip behemoth is scheduled to release its latest quarterly earnings report. With concerns emerging that the dominant run for semiconductor stocks could be over soon, investors will want to key a close eye on the recent results of an industry bellwether like TXN. Increased demand for its chips—thanks to a variety of new applications throughout the tech landscape—has helped Texas Instruments surge considerably over the past few years.
- CNBC Videos•17 hours ago
Consumer staples the worst performing sector this year
CNBC’s Mike Santoli takes a look at ETFs tracking the consumer staples sector.
Associated Press•13 hours agoSears' biggest shareholder offers to buy Kenmore brand
Sears' biggest shareholder has suggested the company sell its well-known Kenmore brand and some real estate holdings, offering itself as a potential buyer. The ailing company has sold off other major brands as it struggles to stay afloat, with Kenmore a notable remainder of the powerhouse retailer that survived two world wars and the Great Depression. The private equity firm ESL Investment, headed by Sears chairman and CEO Edward Lampert, said it might buy the assets — Kenmore, Sears Home Services' home improvement business and the company's Parts Direct business — if the company is willing to sell.
- Coindesk•18 hours ago
Iran Said to Bar Banks from Bitcoin Market
Iran's financial businesses should not deal in bitcoin or other cryptocurrencies, according to the country's central bank and one of its principal market regulators. Fearing the possible illicit use of cryptocurrencies in money laundering and terrorist financing, the Central Bank of Iran (CBI) sent out a circular on Sunday to prohibit the use of the technology within financial institutions, the country's national news agency reports. The announcement, made public yesterday, was passed by Iran's anti-money laundering body in December, 2017.
- TheStreet.com•8 hours ago
Cramer: Kimberly-Clark Falling Back in China
Like Procter, on the surface, you could make a strong case to own Kimberly-Clark given its release where the company talked about 2% growth and some very strong numbers in consumer tissue -- think Kleenex -- and personal care. Tissue sales in North America increased 6% and developing and emerging markets increased 7%. Kimberly's professional segment increased 5%.
- Oilprice.com•yesterday
Saudi Arabia’s $100 Oil Dilemma
Saudi Arabia is rumored to want oil prices at $100 per barrel, but if prices rise that high, it could sow the seeds of the next downturn. Saudi officials want more revenues for their budget and a higher oil price to bolster the valuation of the Aramco IPO. As Liam Denning of Bloomberg Gadfly points out, in the past decade, while oil prices have surpassed $100 per barrel for periods of time, they didn’t stay there for very long.
- Bloomberg•15 hours ago
Nasdaq Supports Return of Market Monopolies to Save Small Stocks
There’s a fresh push to give U.S. exchanges their monopolies back -- at least for small stocks where many fret trading is too low, damaging the IPO business by scaring companies away from public markets. Nasdaq Inc. will soon ask regulators to let companies with thinly traded stocks choose to have their shares transact on only one market, partially overriding a 2005 rule that has splintered trades across dozens of exchanges, dark pools and other venues. “Concentration on one market would help the markets,” Frank Hatheway, chief economist for Nasdaq, said Monday at a Securities and Exchange Commission roundtable in Washington. The company, which has broached the topic before, plans to petition the SEC in coming days to make the change, he said, adding that it would be an opt-in program.
- CNBC.com•20 hours ago
Goldman upgrades Merck, calls it one of its top stocks, cites Keytruda lung cancer breakthrough
Goldman Sachs upgraded shares of Merck to buy from neutral and named it to its Americas Conviction List of favorite stocks on Monday because of potential booming sales from the drugmaker's blockbuster lung cancer treatment Keytruda. Merck shares rose 2.4 percent in premarket trading on the Goldman call. "We believe the narrative for this company is quickly changing with the success of Keytruda (a potential $16bn asset by 2025E) driving a significant shift in product mix from a large primary care evolving into a specialty biopharma," Jami Rubin wrote in a note to clients. Rubin's 12-month price target of $73 calls for a 24 percent increase for the shares from Friday's close. Earlier this month,
- Investopedia•14 hours ago
AMD Stock Faces 14% Swings on Uncertain Earnings
(Note: The author of this fundamental analysis is a financial writer and portfolio manager.) Advanced Micro Devices, Inc. (AMD) options traders are betting on a surge in volatility after the company reports first-quarter results on April 25 after the close of trading. Options are currently pricing in a rise or fall of nearly 14% by expiration on May 18. It is a massive price swing and is a far more substantial range of volatility than even Amazon, which is known to have a history of delivering results that miss or beat analysts estimates by a wide margin. (See also: Amazon's Stock Faces Giant 10% Swings on Earnings.) Analysts are looking for revenue to climb by over 59% to $1.57 billion, while
- Bloomberg•yesterday
Sexist Job Ads Show Discrimination Rife at China Tech Giants
Workplace discrimination in China often begins with help-wanted ads. Job recruitment websites routinely feature advertisements from prominent technology employers such as Alibaba Group Holding Ltd., Baidu Inc. and Tencent Holdings Ltd. for positions that are open only to men, according to a report released by Human Rights Watch on Monday. With the three big internet companies boasting they have “beautiful girls” or “goddesses,” those ads contribute to widespread gender discrimination in the workplace, Human Rights Watch said.
- InvestorPlace•11 hours ago
5 Terrific Tech Stocks to Buy Ahead of Q1 Earnings
Some of the biggest tech names are slated to report earnings this week. Of the companies, slated to report earnings this week, Facebook Inc (NASDAQ:FB) has had to battle the fallout of a data leak scandal. Fortunately, earnings and revenues from the sector are likely to improve in the first quarter, which makes it a good idea to pick up select tech stocks which are also likely to outperform their earnings estimates.
