The Dow Jones Industrial Average ended Monday trade near session lows, amid a firming U.S. dollar. Last week, investor sentiment was buffeted by a rapid decline in crude-oil prices (CLZ8) which fell into bear-market territory, defined as a drop from a recent peak of at least 20%.
It's that time again! "Mad Money" host Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed. Nvidia Corp. NVDA : "Yes[, this is a good time to start nibbling on Nvidia].
Republicans are losing their hold on upper-middle-class suburbs, and the tax reform bill may be to blame. Although a number of races are still too close to call, Democrats have taken 30 seats so far — more than the 23 GOP districts they needed to seize control of the House of Representatives. In swing districts across the country, new Democratic challengers vowed to defy the Trump administration while Republican incumbents touted the benefits of tax reform and a booming economy.
Semiconductor stocks have been battered by recent market-wide volatility and concerns that the industry’s strong cycle is nearing its end. The aforementioned emerging tech trends have created new consumer demand, and the semiconductor makers are delivering. Mellanox Technologies is a leading supplier of semiconductor-based computer networking products to world-class server, storage, and infrastructure OEMs.
L Brands Inc. could bring back the Victoria’s Secret swimsuit line now that the company has signaled no strategy is off limits if it improves profitability, Wells Fargo analysts say. L Brands’ (LB) portfolio includes Victoria’s Secret and Bath & Body Works. Wells Fargo upgraded L Brands to outperform from market weight, with analysts seeing a turnaround on the horizon as the company takes an “‘all options on the table’ mentality.” Analysts don’t expect a turnaround in the near future, but shuttering Henri Bendel and considering options, including a sale, of the La Senza business shows that the company has taken on a new focus.
Since prosecutors implicated a trio of Goldman Sachs bankers in a multibillion-dollar Malaysian fraud early this month, investors have endured an almost daily drip of news on the firm’s ties to the scandal. The barrage culminated Monday as the country’s finance minister demanded a “full refund,” tipping Goldman’s shares into their biggest drop since 2011. “It’s not so much the dollar amount,” said Gerard Cassidy at RBC Capital Markets.
CNBC's Wilfred Frost and Bob Pisani report on the state of the market as the Dow hits session lows.
Shares of General Electric GE plunged on Monday to their lowest level since March 2009, extending the stock's severe losses from the prior session. Shawn Matthews, CEO of Hondius Capital Management, addressed General Electric's debt load and how comments about the company's liquidity unnerves investors.
Sears Holdings Corp. has announced that 40 stores will close in February 2019, adding to the 142 closures the struggling retailer announced previously. The stores, which include both Kmart and Sears locations, will begin liquidation sales late next week, the company said. Sears (SHLDQ) filed Chapter 11 on Oct. 15.
General Electric’s stock is acting right now like the banks did at the height of the 2008 financial crisis — completely disregarding any soothing words from those in the know. Shares of the fallen industrial giant have tanked 10% over the course of two days as Wall Street grows increasingly concerned about GE’s sky high debt levels, weakening fundamentals and pressured liquidity position. “While liquidity is certainly debatable, we believe this is not really about liquidity, it’s about a deterioration in run rate fundamentals,” said JPMorgan analyst Stephen Tusa in a note on Friday.
Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $78.29 billion, up 17.7% from the year-ago period. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Investors can capitalize on this by using the Zacks Rank.
AT&T Inc. ( T) stock has fallen 21%, and now options traders are betting the stock drops 7% to a new low by the start of early next year. The company delivered earnings that came in below analysts estimates at the end of October, despite reporting in-line revenue. The shares recently plunged below technical support at $31.75, now that level will act as technical resistance.
is approaching a very important trend line. Apple could experience some weakness, but it only may be back down to the long-term uptrend. The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take profits sell signal or a sell in an uptrend.
Chipmaker Advanced Micro Devices is the best-performing tech stock of the year, up 85 percent so far. AMD competitor Nvidia also suffered a steep drop. Advanced Micro Devices AMD , the year's best-performing technology stock, got pummeled Monday as the entire tech sector took a nosedive.
Pabst Brewing Company and MillerCoors are going to trial, with hipster favorite Pabst contending that MillerCoors wants to put it out of business by ending a longstanding partnership through which it brews Pabst's beers. The case has high stakes for Pabst, whose lawyers argue that the company's very existence relies on the partnership with Chicago-based MillerCoors, which produces, packages and ships nearly all its products, which include Pabst Blue Ribbon, Old Milwaukee, Natty Boh and Lone Star. MillerCoors, meanwhile, says it's not obligated to continue brewing for Pabst and that Pabst doesn't want to pay enough to justify doing so.
Heading into today, shares of the world's biggest maker of health care products had gained 8.59% over the past month, outpacing the Medical sector's loss of 1.15% and the S&P 500's loss of 3.33% in that time. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.11 billion, down 0.42% from the year-ago period. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
William Cohan of Vanity Fair joins 'Squawk Box' to discuss General Electric after J.P Morgan downgraded the stock.
General Electric Co (GE.N) will sell assets with "urgency" to reduce its high debt, Chief Executive Officer Larry Culp said on Monday, as GE shares tumbled as much as 10 percent and the cost of insuring its debt hit a six-year high. GE shares closed down 6.9 percent at $7.99 on the New York Stock Exchange after falling as low as $7.72.
Analyst Scott Davis says Danaher, which Larry Culp once ran, would "love" to own the life sciences business of GE Healthcare. General Electric GE CEO Larry Culp's latest comments to CNBC about GE Healthcare could indicate an "outright sale" is among the options under consideration, according to a leading industry analyst. Culp called GE Healthcare a "tremendous" franchise, which has "flexibility" in terms of the planned spinoff.
Heading into today, shares of the largest U.S. cellphone carrier had gained 9.62% over the past month, outpacing the Computer and Technology sector's loss of 4.96% and the S&P 500's loss of 3.33% in that time. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.34 billion, up 1.14% from the year-ago period. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Procter & Gamble (PG) closed the most recent trading day at $92.70, moving +0.31% from the previous trading session. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.20 billion, down 1.11% from the year-ago period. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
After three weeks of tech earnings reports, we have seen such major companies as Apple Inc. and Amazon.com Inc. hammered after poor forecasts, but the real danger for tech is being voiced by companies that are not such household names. Several semiconductor companies are seeing a slowdown, and, even though they may be in the minority for now, they should not be ignored. Semiconductors, because of where they sit in the global supply chain and how pervasive their use is across so many products, can sound alarms about tech-ecosystem weakness that could be right around the corner.
Investors in NVIDIA Corporation NVDA 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.
Goldman's bear market indicator is at a rare 73 percent, its highest level since the late 1960s and early 1970s. At such levels, the tool predicts a zero average return over the next 12 months and a "substantial" risk of drawdown. The indicator is "flashing red," wrote Goldman chief global equity strategist Peter Oppenheimer.
"Things are definitely running worse than what was expected" for Apple, AlphaOne Capital Partners' Dan Niles says. Lumentum's reductions amount to a "21 million unit shortfall" for Apple, Niles says. Apple AAPL will sell fewer iPhones in the fourth quarter and cause "a ripple effect throughout the supply chain," AlphaOne Capital Partners founding partner Dan Niles told CNBC on Monday.