"Hock Tan gets his man," TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment Friday regarding Broadcom (AVGO) CEO Hock Tan, in reference to the company's attempted buyout of Qualcomm (QCOM) . He says Tan will eventually get his wish. Broadcom previously made a $70 per share offer to acquire Qualcomm, valuing the latter at roughly $103 billion. Qualcomm rejected the offer, saying it wasn't enough and even if it was, the tie-up would likely face regulatory hurdles. Interestingly enough, both companies face other M&A situations. On Friday morning, Broadcom closed its $5.5 billion acquisition of Brocade. In Qualcomm's case, the company's much larger $47 billion deal to acquire NXP Semiconductors
It commonly happens in stock investing that investors miss the chance of buying winning stocks that they knew would stand out. One such company that looks well positioned for a solid gain, but has been overlooked by investors lately, is ConocoPhillips COP. This year’s expected earnings growth over the prior year is 120.4%, which should ultimately translate into price appreciation.
Walmart’s (WMT) third-quarter earnings crushed expectations. And a key area of growth for the company was its food business, which had its strongest quarter in almost six years. CEO Doug McMillan said the company’s fresh meat, bakery and produce segments
General Electric (GE) shares have recently been through the wringer, but Jim Cramer says they could be close to bottoming out. "I interviewed CEO John Flannery [Tuesday] on Squawk on the Street and I have to tell you, I think that in the end, this company -- which could earn $1.06 in 2018 -- is close to a bottom," Cramer said during a private conference call with members of his Action Alerts PLUS club for investors. Cramer said he thinks that GE shares, which fell 2 cents to $18.25 Thursday, could bottom out at $17. It's been a rough year for GE, with it shares plunging some 42.5% so far this year vs. the S&P 500's 15.5% gain. Flannery took over in August from longtime CEO Jeffrey Immelt, who
Amazon CEO Jeff Bezos knows what it takes to build a business worth billions and he has his grandfather to thank for part of his success.
The equity markets bounced back yesterday as the House of Representatives passed a historic tax bill, inching closer to a legislative tax overhaul centered on President Trump’s electoral promise. As investors employ a wait-and-see approach in a classic example of “backing and filling” in the market, they could benefit from ‘cash cow’ stocks that garner higher returns. A high ROE ensures that the company is reinvesting its cash at a high rate of return.
Cisco reported a top-line beat in its first-quarter earnings results. For the first time in the last eight quarters, the company said it expects to increase revenue next quarter. Cisco hit an all-time high of $36.69 on Thursday after saying it expects to break its eight-quarter long decline in revenue next quarter.
Investors in Advanced Micro Devices, Inc. AMD need to pay close attention to the stock based on moves in the options market lately. What is Implied Volatility? Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other.
The debate over overhauling the tax code shows that while workplace retirement savings plans are widely popular, they aren’t untouchable. Republicans who control the U.S. Congress have floated proposed changes to 401(k) plans as part of their plan to cut taxes for individuals and corporations. 1. What do 401(k)s have to do with cutting taxes?
New York-based startup MoviePass Inc. has slashed its prices yet again to a new low of $6.95 per month. The subscription movie service that allows its users to see unlimited theater films announced Friday, in partnership with Helios and Matheson Analytics Inc. (NASDAQ:HMNY) – who has a majority stake in the company – that it’s now offering its one-year subscription plan for a flat fee of $89.95 or $6.95 a month, a drastic discount from the $50 a month rate it launched with. “We are entering the prime movie-going season, so now is the perfect time to take advantage of the MoviePass movement,” Mitch Lowe, CEO of MoviePass, said in a statement.
The Senate's latest tax plan would lavish billions of dollars in tax cuts on the wealthiest Americans but leave those at the bottom of the income ladder with higher taxes. Under the Senate plan, all income groups would get big tax cuts early in the coming decade, according to the committee's estimates. The increases are due in part to the phaseout of the tax cuts for individuals beginning in 2025.
Tesla Inc. shares and bonds rose Friday, a day after the Silicon Valley car maker unveiled its promised electric commercial truck and surprised observers by showing off a new version of the Roadster, the costly sports car that kicked off its electric-vehicle production. Wall Street heaped praise upon Tesla TSLA, +1.09% for its one-two punch, which opens up two markets, commercial trucking and ultra-luxury passenger cars, and as the specs for the truck, especially its range, surpassed analyst expectations. The star of the late Thursday show was revealed to be a big-rig with a 500-mile range with some autonomous driving capabilities and a relatively short recharging time. Most analysts were expecting
Last week we dove into the brave new world of blockchain and cryptocurrencies. In this episode of the podcast, I read a few more important ideas that Andreessen shared back then, including his explanation of Bitcoin as "a classic network effect, a positive feedback loop" of at least four constituencies: consumers, merchants, miners, and developers. Andreessen believed that all four players were important but that developers played a special role.
Cisco Systems CEO Chuck Robbins talks about the company's quarterly results and it plans to "fundamentally reinvent the networking industry" for its customers while increasing security.
The euro zone economy will mark its best year in a decade and maintain solid growth well into 2018, according to economists in a Reuters poll who said the risk was that their forecasts might not be optimistic enough. Inflation, last clocked at 1.4 percent, is expected to stay below the European Central Bank's target of just under 2 percent until at least the second half of 2019, according to the poll of over 80 economists taken Nov. 13-16. Euro zone economic growth has been surprisingly robust this year, outpacing both the United States and Britain simultaneously for the first time since the 2007-08 financial crisis, and also one of the most synchronous upturns across the euro zone economies.
Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways. Bad executives can run their companies into the ground. Look no further than General Electric (GE) and Sears Holdings (SHLD) for proof of that. But great CEOs, like Miles White of Abbott Labs (ABT) , can turn a company into a powerhouse. White took the helm at Abbott in 1999 and during his 19-year tenure has delivered a 623% gain, taking into account the company's many spinoffs. That turned a $1,000 investment in 1999 into $7,230 today. How was White able to accomplish this feat? Cramer explained that White has a remarkable talent for anticipating what people's medical needs will be, then aggressively positioning
Jim Cramer holds Nvidia (NVDA) in his charitable trust, but has cut the stock's rating because of the company's recent run-up. "Because of the speed of the last move from the $170s to the $200s, we downgraded [Nvidia] from a '1' to a '2,'" Cramer said during his latest conference call with members of his Action Alerts PLUS club for investors. "Our discipline is to keep you from buying high -- and post-earnings, this stock last time got pummeled. We didn't want to get you into that maelstrom again." Cramer said Nvidia typically has a post-earnings swoon before settling in at a new higher level, a process that repeated itself following NVDA's latest release last week. Despite what Cramer called
It started with a deal that never was and ended with the mother of all air show announcements - this week's Dubai Airshow saw little in the way of firm new business, but reminded observers the rivalry between two global giants is as fierce as ever. As stragglers placed a handful of orders, delegates said the show would be remembered for the collapse of an anticipated Airbus deal to sell A380 superjumbos to Emirates and hunger for smaller jets including a record deal for 430 Airbus A320s. A Boeing 787 deal with Emirates also shook up the battle for widebody orders.
By Jemima Kelly LONDON (Reuters) - American Express has introduced instant blockchain-based payments using Ripple, a fintech start-up, for U.S. corporate customers sending funds to UK-based businesses that bank with Santander UK , the companies said on Thursday. American Express said its FX International Payments (FXIP) business had partnered with Ripple to provide real-time, trackable non-card payments from the United States to Britain. This marks one of the first major uses of blockchain, a shared database of transactions maintained by a network of computers on the internet that is best known as the system underpinning bitcoin.
The U.S. dollar was lower on Friday along with Wall Street stocks as investors pulled back from technology stocks and were skeptical President Donald Trump's Republican party would succeed in its efforts at overhauling U.S. tax law. U.S. Treasury yields edged lower, in line with declines in U.S. stock indexes and German 10-year bond yields, as risk appetite faded. The yield curve continued to flatten after strong U.S. housing starts data for October.
Earlier this week, House Republicans laid the foundation for a vote on Thursday which may be decisive for the prospects of the new tax Bill. Meanwhile, late on Wednesday, the legislation’s proponents in the Senate released a version which would do away with a crucial element of the Affordable Care Act (ACA). This is why investing in hospital stocks continues to be a lucrative proposition.
China's bike sharing bubble is showing signs of strain, after the country's third largest firm said it was going under. "We fought until the very last and I believe we can all leave with pride and our heads held high," Li Gang wrote, adding he had endured months of sleepless nights. China's bike sharing craze has been driven by huge investments, especially into the two market leaders Mobike and Ofo, which have raised billions of dollars from tech giants like Tencent Holdings and Alibaba Group Holding Ltd.
Abercrombie and Fitch (ANF) tops our list. The teen retailer is also predicting a strong holiday sales season thanks to the growing popularity of its Hollister brand. General Motors (GM) shares are revved up this morning.
After a three-day selloff, the markets reversed course on Thursday as the GOP tax plan cleared its first hurdle on its way to becoming law and strong earnings from some industry leaders pushed the broader markets higher. While stocks were on the rise and tax plans were gaining approval, one pillar of the current state of media came crashing down on Thursday. Owners of local television stations will be permitted to buy a local radio station or newspaper in the same market after the Federal Communications Commission on Thursday, Nov. 16, voted to lift the ban on cross-ownership that had stood since 1975. The agency, which has been fast eliminating restrictions long opposed by TV station owners,
Gold prices rallied Friday to a more than one-month high, tacking on nearly 1.8% for the week, as the latest developments in the investigation into Russia’s interference in the U.S. presidential election knocked the dollar lower. Gold futures, which saw their biggest single-session percentage gain since May, scored an almost 1.8% weekly rise, its second in a row. The exchange-traded SPDR Gold Trust (GLD) was up 1.2%, set for a weekly climb of 1.5%.