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.
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.
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. Investors think the end of the record bull run is almost here — but they aren't blaming the change of power in Congress.
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.
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.
NEWSWATCH MARKETWATCH FRONT PAGE Standard deductions are going up, again. See full story. Hedge-fund boss who predicted ‘87 crash says get ready for some ‘really scary moments’ Paul Tudor Jones, a hedge-fund luminary, says he’s stress
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.
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.
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.
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.
Treasuries declined, the dollar drifted and the pound advanced. Telecommunications and construction shares pushed the the Stoxx Europe 600 Index higher, along with stocks in Italy, where Deputy Premier Luigi Di Maio said the government is ready for dialog with the European Commission over the country’s budget. Equities posted modest gains in Tokyo, Hong Kong, Shanghai and Taiwan.
Seven in 10 companies offer a Roth 401(k) option that lets workers put in after-tax dollars, which can then grow and be withdrawn tax-free in retirement. Financial advisors say that's a missed opportunity to stretch your retirement savings and gain tax flexibility. A Roth 401(k) is an option within a workplace retirement plan to put aside after-tax dollars.
Wall Street doesn’t think much of Dell Technologies, the privately held tech conglomerate assembled by Michael Dell and Silver Lake Partners. Judging from the current price of the Dell tracking stock for (VMW) investors are effectively assigning a negative value to Dell’s core business outside its valuable 81% stake in (VMW) (ticker: VMW), a leading software company, and its stakes in two other publicly traded tech companies, (PVTL) (PVTL) and (SCWX) (SCWX). Barron’s derived this calculation based on the current price of the Dell tracking stock for VMware, (DVMT) (DVMT).
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.
Chip buyers have industry-specific reasons for cutting orders, but also prefer to order cautiously due to greater macro uncertainty and/or greater confidence that they can up their orders in the future without having to worry about supply shortages. having signaled on its Nov. 1 earnings call that it's seeing some weakness in emerging markets such as India, Brazil and Russia and with the company having said it's guiding cautiously partly due to macro concerns, it wouldn't be surprising if Apple is choosing to be conservative with its iPhone chip-order and production plans.
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.
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.
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.
The embattled PG&E Corp. would face higher borrowing costs if its credit rating falls to junk following California’s deadliest and most destructive wildfire. Climate change has made wildfires the new abnormal in the region, but now the fires themselves may make it harder to fight climate change. California has approved a series of measures to rein in carbon emissions, and will need PG&E’s help to achieve many of its goals.
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.
Bitcoin fell by 0.48% on Saturday, following on from a 1.63% reversal on Friday, to end the day at $5,628.3, the day’s loss marking a 4th consecutive day in the red to leave Bitcoin down 12.71% for the week, Monday through Saturday. The day’s loss reflected a trend across the broader market, though for the Bitcoin bulls there was some respite from the recent reversals in the lead up to the Bitcoin Cash hard fork and the fallout that followed. In spite of the minor losses on the day, the key driver for Bitcoin and the broader market remained the ongoing battle between Bitcoin Cash ABC and Bitcoin Cash SV, with the Bitcoin Cash SV miners fighting back after an early, post-hard fork Bitcoin Cash ABC lead.
What does it mean that the VIX is only barely higher than average, even as the stock market is experiencing remarkable volatility? The VIX (VIX) is the CBOE Volatility Index. The VIX currently is trading around 20, only slightly higher than the historical average of 19.26.
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.