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.
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.
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.
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.
This year hasn’t been a great one for AT&T (NYSE:T) shareholders. T stock is down 19% since the end of December, as investors grapple with the impact of rising interest rates on dividend stocks, the uncertainty regarding the union of Time Warner and AT&T, and the fact that most of its key markets are not only quite competitive, but highly saturated. A reversal of fortune for struggling AT&T shares may be right around the corner.
Hashflare, a so-called “cloud mining” service that allowed speculators to effectively rent processing power on the Bitcoin network, announced Friday that it had shut down its Bitcoin mining hardware and canceled related contracts. The shutdown was announced in an email to customers and on Hashflare’s Facebook page, with the statement primarily blaming “a difficult time for the cryptocurrency market,” including a dramatic decline in the market value of Bitcoin from its bubbly December 2017 peak. Hashflare contract-holders pre-paid a yearly fee for a fixed amount of the cryptographic processing power that secures the Bitcoin network, along with daily service and maintenance fees.
There's an investment account that can help. Health savings accounts (HSAs) are tax-exempt trust accounts that pay or reimburse medical expenses for you or your family if you have a healthcare plan with an annual deductible of $1,350 or $2,700 or more, respectively. The accounts, which you can open through your employer or financial institution, allow you to fund your account with pre-tax income from your paycheck.
Rarely does a day go by in the U.S. stock market without someone decrying its addiction to gains in the FANG bloc of tech megacaps. Now, in the middle of earnings season, their support has gone missing, and the result has been something less than a catastrophe. The S&P 500 Index ended where it started, and the Nasdaq 100 -- home of Facebook Inc., Amazon.com, Netflix Inc. and Google parent Alphabet Inc. -- slipped from a record.
The stakes are unusually high as Tesla Inc.’s second-quarter earnings day approaches. Chief Executive Elon Musk has created several new controversies in recent weeks via his Twitter account, sending shares down more than 7% in July. The question for Tesla investors may not be asked during the post-results call but it’s increasingly pertinent: Are Musk’s outbursts against analysts, the media, critics and others mere distractions for Tesla, or are they signs of more serious problems at the Silicon Valley auto maker?
Is there life beyond the iPhone? On Friday, Goldman Sachs sent a note to investors projecting a 12-month downside risk of 14.5% and reiterating its $164 price target for Apple, well below its closing share price Friday of $191.44. The analysts forecasted 47 million iPhone unit shipments, which is in line with Wall Street projections -- but given that Apple rakes in the majority of its revenue from iPhone sales, representing 62% of its total revenue last quarter, the analysts suggested that weaknesses in iPhone sales could bring the pain.
In early February, the stock market was in sell-off mode because inflation and rate hikes were pushing up fixed income yields, which was increasing borrowing costs and pressuring equity valuations. Such inflation concerns have largely moved into the rear-view mirror. History suggests that despite an inverted yield curve, the stock market should do just fine for the next 12-plus months.
Investors who thought the tariffs imposed by the Trump administration would help U.S. aluminum producers can think again—Alcoa Corp. says they actually hurt. Alcoa reported late Wednesday second-quarter earnings and revenue that rose above expectations, but lowered its outlook for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), citing factors such as current market prices and tariffs on imported aluminum. The biggest decline during that time was the 13.5% tumble on April 23, 2018, after the U.S. extended the deadline for dealing with Russia-based aluminum giant United Co. Rusal (HK:0486) which is controlled by Oleg Deripaska, who was sanctioned for his involvement in U.S. elections meddling.
Caterpillar Inc.’s stock chart has produced a “death cross” on Tuesday, to snap the longest bullish trend-following streak in at least 46 years, as the list of bearish technical patterns that have appeared in the last month just got a little longer. The streak is the longest since at least April 1972, which is the earliest FactSet has data for the moving averages. Caterpillar’s death cross comes about three weeks after the stock entered a bear market, which many technicians define as a decline of at least 20% from a bull-market high.
The restructuring comes at a time when JetBlue is seeking to honor a goal set in December 2016, when it announced a plan to reduce operational costs by up to $300 million a year by 2020. In a statement to Business Insider, JetBlue's Shelby Wallace said, "To streamline how we work, we are moving certain teams and roles into new reporting structures and are eliminating a number of positions. The statement continued: "We aimed to reduce the number of involuntary departures by offering voluntary buyouts and by eliminating a number of open positions.
Microsoft Corp. became even more deserving of its $800 billion-plus valuation Thursday by showing strong growth and projections for more, but the 43-year-old software giant can’t rest now if it wants to maintain its seat at the table with other tech giants. Microsoft (MSFT) reported fiscal fourth-quarter earnings that surpassed Wall Street’s expectations Thursday, and surpassed the $100 billion annual revenue mark for the first time, topping $110 billion to boot. At an age when growth is hard to come by for most tech companies, Microsoft reported double-digit revenue growth across all its businesses except for Office consumer products, which was up 8%.
Both Facebook FB and Amazon AMZN report their quarterly financial results during the week of July 23. The question is should investors consider buying shares of either Facebook or Amazon? And is either tech giant a clear winner at the moment?Business
The stock had risen earlier in the day after the opening bell, bolstered by restructuring progress and a recovery in the international markets revenue. "With significant mobilization underway (including an unprecedented level of integrated activity) and what appears to be a final restructuring for this downcycle now in the books, the company is positioning the second quarter as the start of the long-awaited earnings liftoff," says Sean Meakim, J.P. Morgan analyst in a note on Friday. The company's second-quarter revenue of $8.3 billion increased 5.7% from $7.8 billion in the previous quarter, largely driven by the growth in OneStim in North America and higher reservoir characterization and drilling activity internationally, according to Chief Financial Officer Simon Ayat on a call on Friday.
Fiat Chrysler Automobiles NV named the head of its Jeep and Ram brands, Mike Manley, as chief executive officer to replace Sergio Marchionne, after a sudden deterioration in his health left the 66-year-old executive unable to return to work. The abrupt departure of the executive who saved both Fiat and Chrysler and then forged a profitable trans-Atlantic operation also led to the selection of new leaders at Ferrari NV and CNH Industrial NV, which were spun off from Fiat during Marchionne’s 14-year tenure, the companies said Saturday.
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.
THE RATINGS GAME Skechers USA Inc. shares took a 23% nosedive in Friday trading after the shoe brand reported an earnings miss and was downgraded at least twice by analysts concerned about the company’s spending. Shares closed down
A few months ago, Apple (NASDAQ:AAPL) stock was soaring, and everyone was talking about the elusive trillion-dollar mark. For the first time ever, it finally looked like the stock market was about have its first trillion-dollar company. At current stock price appreciation rates, we will have not one, but two trillion-dollar stocks by Halloween 2018.
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.
The Unemployment Insurance Appeal Board of New York State has ruled that Uber is liable for unemployment benefits for three drivers, along with others who are “similarly situated.” Uber has said it disagrees with the ruling, and seems likely to appeal it. The decision cites Uber’s extensive recruitment, training, and supervision practices as evidence that drivers are employees, rather than independent contractors.
European Union Competition Commissioner Margrethe Vestager coolly hit Google with a 4.3 billion-euro ($5 billion) fine last week, the biggest penalty in the history of antitrust enforcement. A year earlier, when the company -- already reeling from a 2.4 billion-euro fine in another EU case -- made quiet attempts to settle the probe into deals it has with Android phone makers, the response was equally chilly. The Silicon Valley search giant had waited at least a year too long to broach the subject of a settlement, the 50-year-old Vestager said in an interview.
The investment bank reiterated a $164 price target on the tech giant Friday, projecting 12-month downside risk of 14.5%. Goldman said downside risks on Apple include weakening iPhone demand, pressure on gross margins and large and dilutive acquisitions. Picking apart Goldman's model (see below), it appears it's concerned about Apple's average selling prices and less enthusiastic on profit margins relative to most on Wall Street for the September quarter.