has top-tier assets, with a huge presence in the oil-rich Permian Basin. With low operating costs, the company can support its growth plans and sustain its dividend, even with these low oil prices. Occidental has a high dividend yield of around 4.4% and a long history of annual dividend increases.
Investors with at least $1 million invested in a brokerage account aren't making major changes in their portfolios after the midterm elections. The markets suffered another bumpy week in the post-midterm election period, with steep losses suffered by stocks. Several headlines from the past week featured White House officials contradicting each other over trade negotiations with China and the potential implementation of additional tariffs in January.
The IRS released its inflation adjustments for the 2019 tax year this week, which include new brackets and limits on deductions and exemptions. A few highlights: The standard deduction for single filers in 2019 will be $12,200 (up from $12,000 in 2018
Three weeks after someone hit the biggest Mega Millions jackpot in history, the winner has still not stepped forward to claim their prize, according to South Carolina lottery officials – and there might be a strategy behind the move. “I’m actually not surprised at all that it’s taking them some time to claim the prize,” Michael A. Silver, a financial advisor at Morgan Stanley, said on Wednesday. The winning ticket, which was sold in a KC Mart in the South Carolina town of Simpsonville, is worth about $1.5 billion in annual installments over three decades, or an $877 million lump-sum cash package.
Recent studies have found that Americans are becoming increasingly concerned that they will outlive their savings, with more than 30 percent of Americans expecting that they will need more than $1 million in retirement, according to NerdWallet. For those looking to maximize their retirement income by minimizing their taxes, here are the seven states without an individual income tax. Despite its cold climate, Alaska offers some of the best benefits and services to retirees.
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.
Jim Cramer tells investors to steer clear of Nvidia's stock as it hovers near its 52-week lows.
Nvidia shares dropped 19% to $164.43 to end the day. "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.
‘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.
As the economy strengthens, more workers near retirement age are feeling better about their economic prospects. As the economy strengthens, more workers nearing retirement age are feeling better about their economic prospects. Overall, 85 percent of working Americans said retirement will be a "positive new chapter in life," according to a recent retirement study by Wells Fargo WFC , which polled more than 2,500 adults in August.
CannTrust Holdings Inc. said late Wednesday that it sold nearly as much recreational pot in September as Canadian cannabis rivals worth much more, and it is pursuing a listing on the New York Stock Exchange, pushing shares to large gains Thursday. The Vaughan, Ontario-based cannabis producer’s third-quarter earnings showed sales of C$500,000 in recreational pot, positioning it alongside large rivals with deep pockets such as Canopy Growth Corp. (CGC) , (CA:WEED) in the race to dominate the recreational-pot market that Canada kicked off less than a month ago. CannTrust (CNTTF)(CA:TRST) experienced early issues with supplying Canada’s recreational market with pot like other pot producers, but it was able to ship as much recreational weed as Aurora Cannabis Inc. (ACB)(CA:ACB) , which said Monday it moved about $500,000 of recreational product.
Investors have been shaken by concerns that demand for oil and natural gas will weaken as global growth slows and the use of renewable energy sources increases. Energy companies have shown greater financial discipline by reining in capital spending and returning more cash to shareholders. Four of the big integrated energy companies— (BP) (ticker: BP), (CVX) (CVX), (XOM) (XOM), and (RDSA) (RDS.A)—have dividend yields in the 4% to 6% range and can probably cover them from earnings, even if Brent crude, now around $67 a barrel, drops closer to $50.
There are plenty of things that can ruin a person’s retirement plans — divorce, illness, job loss, overspending. A recent study has revealed for the first time the 10 biggest causes of financial regret among those who have retired or are near to retirement. The survey was conducted by researchers from the RAND Corporation and the Max Planck Institute in Munich, Germany.
You probably don’t need a bunch of charts to tell you just how sketchy the stock market’s behavior has been of late, but we’ll give them to you anyway. Shares of Apple have plunged over 10% in the past three months. Apple isn’t the only FAANG stock whose chart was blaring out warning signs this week.
Jim Cramer guides investors through his plan for the week ahead, which will include key housing data and may bring news on interest rates and a potential trade deal.
Next week will be a short week with markets closed on Thursday for Thanksgiving Day, and markets will close at 1 p.m. ET on Friday. “We suspect the housing market will continue to cool in coming months, as virtually every leading indicator of housing has continued to weaken.
It’s time to stop lumping Netflix Inc. (NFLX) in with the other FAANG stocks, Imperial Capital analyst David Miller wrote in a note to investors Friday. The FAANG stocks are a quintet of large-capitalization technology and internet companies widely followed by investors, comprising Facebook Inc. (FB) Apple Inc. (AAPL) Amazon.com Inc. (AMZN) Netflix and Alphabet Inc.’s Google (GOOG) They’re often lumped together, but Miller says it’s time to “decouple” Netflix from the rest of FAANG.
Not long ago, the iPhone maker was the toast of the market as the first U.S. company worth more than $1 trillion. Apple’s stock plunged 17%, wiping out nearly $190 billion in shareholder value. In September, Apple (ticker: AAPL) released the $999 iPhone XS and the $1,099 iPhone XS Max, followed by the midrange $749 iPhone XR in October.
Oil prices have declined sharply in November, but natural gas’ rise has been even more striking with prices for the heating fuel having soared by more than 30% for the month to date, recently touching their highest level in more than four years. “The price will move up and down with the weather, but the upside moves will be greater than the downside,” says James Williams, energy economist at WTRG Economics. December natural gas (NGZ18) rose 18% to settle at $4.837 per million British thermal units on Wednesday.
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.
Walmart has overtaken Apple to become the No. 3 online retailer in the U.S., according to a report this week from eMarketer. While Amazon still leads by a wide margin, accounting for 48 percent of e-commerce sales in 2018, Walmart - including also Sam's Club and Jet.com - is poised to capture 4 percent of all online retail spending in the U.S. by year-end, totaling $20.91 billion. The news of the shift in e-commerce rankings comes alongside Walmart's strong earnings which saw the retailer reporting a 43 percent increase in online sales and upping its year-end forecast for both earnings and sales.
Applied Materials Inc., the world’s largest maker of equipment used to manufacture semiconductors, confirmed an industry slowdown Thursday, but also said it will be more modest than past downturns. In a conference call to discuss the company’s fiscal fourth-quarter earnings and disappointing outlook, Applied Materials (AMAT) executives said that industry spending on manufacturing equipment will be lower in 2019 compared with this year, citing a pullback on spending on memory chips and macroeconomic conditions. Just on Thursday, Nvidia Corp. (NVDA) plunged more than 16% in late trading following its earnings report, which also seemed to cause a drop for rival Advanced Micro Devices Inc. (AMD) after Nvidia said it has a big backlog of inventory of its Pascal products.
While many retailers may be anticipating the market-share grab they’ll make as Sears Holding Corp.’s demise continues, J.C. Penney Co. Inc. could actually be hurt by the disappearing competitor. Retailers like Home Depot Inc. (HD) stand to gain as Sears (SHLDQ) stores close and customers look for a new place to buy goods, particularly appliances.
Google parent Alphabet Inc.’s stock chart has just produced a bearish “death cross” chart pattern for the first time in over two years, that may put the future of the internet giant’s 7-year old bull market in doubt. Some chart watchers believe the cross marks the spot when a shorter-term slump morphs into a longer-term downtrend. The last time Alphabet’s stock (GOOGL)produced a death cross was June 24, 2016.
Thomas Kurian was named head of Google's cloud business on Friday, replacing Diane Greene, who ran the unit for three years. Kurian previously spent 22 years at Oracle, which has been involved in a heated legal dispute with Google. Google's enterprise business has failed to keep pace with Amazon Web Services and Microsoft.