After a decade of saving and investing more than half of their income, Justin and Kaisorn McCurry built a portfolio of $1.3 million, enough to support their modest lifestyle in retirement. Justin quit his engineering job in 2013 and retired at age 33. Kaisorn joined him in early retirement in 2016 at age 38.
Jim Cramer, CNBC’s “Mad Money” host and a prominent fixture among market commentators, on Monday said the market is enduring “a very serious correction,” underscored by the fact that there are few fundamental reasons for the market’s current downtrend. During CNBC’s “Halftime Report,” Cramer said notable is a slump in shares of so-called FANG names — the highflying quartet of Facebook Inc. (FB) Amazon.com Inc. (AMZN) Netflix Inc. (NFLX)and Google parent Alphabet Inc. (GOOGL)(GOOG) that are among the most influential on Wall Street due to their massive market values and the degree by which investors have piled into those investments for hope of consistent growth. All of those companies are in a corrective phase, defined as a drop of at least 10% from a recent peak, and Netflix and Facebook shares have shed around a third of their values since hitting 52-week peaks.
The dramatic decline has left investors wondering about the worst-case scenario for the industrial icon. As new Chief Executive Officer Larry Culp tries his hand at a turnaround, the possibilities span everything from a prolonged fight for survival to a swift journey to the junkyard. Revenue growth and profit margins might suffer, but GE would have a shot at regaining a higher credit rating and reflating its dividend, winning back investors.
A few years ago, InvestorPlace contributor Dan Burrows highlighted the 10 best-performing S&P 500 stocks of the past decade. A classic example of how true this is involves the Fidelity Magellan Fund (MUTF:FMAGX), the large mutual fund made famous by portfolio manager Peter Lynch. Fidelity studied the returns of Fidelity Magellan unitholders over those 13 years to see how they compared to the legendary portfolio manager.
‘From a markets perspective, it’s going to be interesting. Paul Tudor Jones, a hedge-fund luminary, said he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead on the back of the Federal Reserve’s apparent commitment to normalizing interest rates and buttressed by corporate tax cuts from the Trump administration. Speaking at an economic forum in Greenwich, Conn., a hotbed for hedge funds, Jones said the Fed faces real challenges amid “the end of a 10-year run” of economic growth that many anticipate will soon come to a screeching, cyclical end.
The drop in Nvidia's stock reflects, in part, the reaction of a market blindsided by results after CEO Jensen Huang's comments during the company's second-quarter earnings call that downplayed crypto's impact on the company. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. "We came into Q3 with excess channel inventory post the crypto hangover," Huang told analysts on Thursday night.
Ray Dalio, Hedge Fund giant Bridgewater Associates, joins 'Squawk Box' to discuss markets, the Fed and interest rates.
Oil markets analysts say it appears that the Trump administration tricked Saudi Arabia and other oil producers into slashing oil prices. President Donald Trump pressured the Saudis to orchestrate a production increase ahead of U.S. sanctions on Iran. The Trump administration threatened to cut Iran's exports to zero, but ultimately allowed some of its biggest buyers to continue importing crude.
PG&E's stock had slumped over 60 percent since the state's deadliest-ever wildfire broke out last week on fears that without help from California's government, the utility could go bankrupt should it eventually be found responsible. The fire destroyed the town of Paradise and has killed at least 63 people. California Public Utilities Commission President Michael Picker told Reuters on Friday that utilities must be able to borrow money cheaply in order to properly serve ratepayers.
The night before, the New York Times had reported that Sheryl Sandberg, Facebook’s chief operating officer, worked behind the scenes to prevent the company’s board and the public from understanding the full extent of Russia’s misinformation campaign on the social network. The employees were used to the public microscope.
The long, slow death of MoviePass might finally be entering the final stages. Helios & Matheson, the parent company of the beleaguered service, said in a 10-Q filing with the Securities and Exchange Commission Thursday that it is running out of cash and is unsure if it will be able to obtain any more. “Our cash and cash equivalents may not be sufficient to fund our operations for the near future and we may not be able to obtain additional financing,” the company wrote.
In a note to clients on Thursday, Bernstein's Vitaly Umansky initiated coverage on four of the largest U.S. gambling companies, who have all sharply underperformed the broader market this year, as outlined by Barron's. Shares of Las Vegas Sands Corp. ( LVS) and MGM Resorts International ( MGM) have sunk 22.4% and 20.6% YTD, respectively. While some of the downside can be attributed to company-specific headwinds, like allegations of sexual misconduct at Wynn, the Bernstein analyst noted that most of the negative sentiment has been driven by disappointing Macau gambling data.
A case of tough love for Advanced Micro Devices (NASDAQ:AMD) just got a bit more difficult, as misery loves company in a challenging market environment. If investors can look smartly past the latest bear market warnings, it’s time to put AMD stock on the radar for buying. Blame it on Nvidia (NASDAQ:NVDA).
For months, the price of Bitcoin has been hovering around the mid-$6,000s mark. The most popular cryptocurrency has plummeted by 12% over the last day, hitting a value of little more than $5,500. The total market capitalization for Bitcoin now stands at $96 billion—the first time the market cap has fallen below $100 billion since October last year.
As the death toll continues to climb from the wildfires raging across California and residents begin to try to rebuild, there’s a handful of lucky people who will not be faced with such a daunting task. The celebrity power couple called in private firefighters to save their $60 million home earlier this week. A number of insurance companies boast such services: AIG, for example, has what it calls a “Wildfire Protection Unit.” Others have a contract with a Montana-based company called Wildfire Defense Systems, which can dispatch private fire engines and firefighters to protect the homes of its clients in the case of a fire.
Now, several analysts have cut their price targets on the semiconductor giant. Goldman Sachs analysts cut their price target to $200 a share, and even removed the name from its conviction list. "We remove NVDA from the Conviction List with an updated 12-month price target of $200," the analysts wrote in an note on Friday.
It’s not, and all we need to do is look at Micron Technologies (NASDAQ:MU) to realize it. MU stock has traded a low valuation for the last few years and yet, it was never a catalyst that pushed the stock higher. Of course, Micron stock has gone higher, but that’s only as the DRAM cycle held up better than many investors and analysts were expecting.
The sale marks another step in GE's planned $25 billion reduction in GE Capital assets, which were built up as the division financed sales of GE aircraft engines, locomotives, power plants and other products. GE Capital once supplied a large part of GE's profits, but the 2008 financial recession raised funding costs and nearly sank the entire company. GE's healthcare equipment unit makes medical scanners that can produce images of internal organs, bones and tissue.
If but for one day, JCPenney (JCP) executives managed to prevent their badly beaten up stock crashing below $1.00 after another dismal quarter. Shares of the struggling department store indicated to open down an alarming 14% on Thursday after the company said same-store sales tanked 5.4% in the third quarter. Further, the company lost $151 million and it opted to pull its full year guidance to give new CEO Jill Soltau time to assess the business.
“I believe that the market has over-corrected for GE’s many faults, and at the current stock price, that it is significantly undervalued,’’ Aswath Damodaran, a finance professor at New York University, said Wednesday in an analysis on his website.
Nvidia's stock is plunging on Friday after reporting a disappointing quarter and guiding to more trouble ahead amid unexpected inventory issues, damaging management's credibility in the eyes of the market. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. For one, Nvidia's high price to earnings ratio makes it somewhat prohibitive compared to peers like Intel Corp.
The cryptocurrency market is an exciting one, but it's also unpredictable — and when things go south, they take related businesses with them. Nvidia, a hardware giant that has been riding the cryptocurrency wave, saw its stock price take a double-digit hit as it reported vanishing demand for GPUs specializing in crypto-mining. It's been a wild year in the GPU market at there were points when ordinary gamers, who have relied on Nvidia for years for the powerful cards used to play the latest games, found inventory scarce for the company's latest generation of hardware.
After months of tranquility that became the envy of equity investors, The biggest cryptocurrency roared back into the public consciousness this week with the biggest sell-off since August, another fork and a cameo in a major semiconductor earnings report. Bloomberg Intelligence says the drama’s just starting. Many of Bitcoin’s closest peers, including XRP, the cryptocurrency also known as Ripple, fell in tandem.
Nvidia Corp.’s stock plummeted Friday for its worst one-day drop in more than a decade, as a disappointing earnings report cost the graphics-chip specialist more than $23 billion in market capitalization. Nvidia (NVDA) shares closed down nearly 19% at $164.43 in heavy trading, and are now down 15% for the year. Shares closed at their lowest price since Sept. 8, 2017, when they finished at $163.69, and the company’s market capitalization finished the day just below $100 billion at $99.97 billion.