- S&P 5003,103.30-0.54%
- Dow 3027,778.44-0.56%
- Nasdaq8,511.19-0.69%
- Russell 20001,594.75-0.22%
- Crude Oil56.91+3.08%
- Gold1,473.40-0.06%
- Silver17.13+0.07%
- EUR/USD1.1075-0.0443%
- 10-Yr Bond1.7380-2.69%
- Vix13.02+1.24%
- GBP/USD1.2919-0.0723%
- USD/JPY108.5380-0.0074%
- BTC-USD8,050.32-1.93%
- CMC Crypto 200166.30-1.63%
- FTSE 1007,262.49-0.84%
- Nikkei 22523,148.57-0.62%
- USA TODAY
California files lawsuit against e-cigarette maker Juul, says it markets products to teens
California Attorney General Xavier Becerra said Monday morning the state is suing Juul Labs Inc. the e-cigarette company based in San Francisco, alleging the company markets its products to teenagers and fails to give warnings about the product's potential health risks. The product was originally marketed to those addicted to cigarettes as a healthier alternative.
- Investing.com
Home Depot Earnings Beat, Revenue Misses In Q3
Investing.com - Home Depot reported third quarter earnings that beat analysts' expectations on Tuesday and revenue that fell short of forecasts. The firm reported earnings per share of $2.53 on revenue of $27.22B. Analysts polled by Investing.com anticipated EPS of $2.52 on revenue of $27.53B. That compared to EPS of $2.51 on revenue of $26.3B in the same period a year earlier. The company had reported EPS of $3.17 on revenue of $30.84B in the previous quarter.
- Fox Business
Top Republican asks Mnuchin to probe Warren’s proposal to tax stock trades
A top Republican is seeking additional answers on the potential impact of a financial transaction tax on the markets and U.S. economy. In a letter obtained by FOX Business, Ranking Member of the House Financial Services Committee Patrick McHenry asked Treasury Secretary Steven Mnuchin to analyze the effects of a new levy on stock trades -- a policy favored by several Democratic presidential candidates, including Elizabeth Warren and Bernie Sanders. “Proposals suggesting that taxes will be paid directly when an individual purchases or trades on an exchange, or when a company purchases derivatives such as futures contracts or options to hedge against price changes in an important commodity for their business, directly implicate the stability of the marketplace,” the North Carolina Republican wrote.
- Bloomberg
Robinhood CEO Aims to Democratize Financial System, Says Leverage Glitch Fixed
Vlad Tenev, Robinhood Markets Inc. co-founder and chief executive officer, discusses the company's plans to offer its stock-trading service in the U.K. in the first quarter of 2020 and comments on the company's recent leverage glitch. He speaks with Bloomberg's Guy Johnson and Vonnie Quinn on "Bloomberg Markets."
- Investor's Business Daily
Tesla Cybertruck: Is It A Monster Machine Or Sci-Fi Blunder?
The long-awaited unveiling of the so-called Tesla cybertruck Thursday in Los Angeles marks the electric-car maker's first foray into the pickup segment of the auto market, the most profitable in the industry. A concern among Wall Street analysts is that Tesla will push the design aspects too far to gain a widespread audience beyond the company's hard-core fans. In mid-October, responding with a tweet about the vehicle's design, Musk described the Tesla cybertruck, as he called it, as being "closer to an armored personnel carrier from the future." Musk also has called it a "Blade Runner pickup truck," right out of a sci-fi movie.
- Benzinga
Curaleaf Posts Record Q3 Pro Forma Revenue of $129M
Vertically integrated cannabis company Curaleaf Holdings, Inc. (CSE: CURA) (OTC: CURLF) reported Tuesday its record quarterly pro forma revenue of $129 million for the third quarter of 2019. The company disclosed a net loss for the quarter of $7.4 million versus a net loss of $35.6 million in the same quarter of 2018. It also had a net loss per basic and diluted share of 1 cent per share versus a net loss of 5 cents per share one quarter earlier.
- MarketWatch
Cannabis stocks rally for a second day after House passes bill aiming to lift federal ban on weed
Cannabis stocks rallied for a second day Wednesday, buoyed by a historic congressional committee passage of a bill that aims to lift the federal ban on weed, as well as strong gains for Curaleaf after it posted a narrower-than-expected third-quarter loss. Curaleaf's U.S.-listed shares (CURLF)(CA:CURA)were last up 15%, as investors shrugged off its revenue miss. GMP analyst Robert Fagan, who rates the stock a buy, said the numbers were “largely in line with our relatively high expectations.” The revenue number was below his estimate of $67 million.
- MarketWatch
Millennial bets most of his savings on one of the stock market’s riskiest plays — and he’s about to cash in $1.5 million
In the spring of 2010, when the stock market was picking up the pieces of the Great Recession, one twenty-something with a law degree and a penchant for flipping stocks was busy licking his wounds from one bad trade after another. “I was bullish on the global economy then, having understood the Fed and Obama would not allow any more core US investment/commercial banks to fail via the bailout and TARP, and quantitative easing,” he wrote in a post.
- Investor's Business Daily
Dow Jones Dives 250 Points As China News Fuels Stock Market Sell-Off
Stocks today turned sharply lower in afternoon trade amid reports of a likely delay in a China-U.S. trade deal, sending the Dow Jones Industrial Average down more than 250 points. The Dow Jones industrials plunged 0.8%, the Nasdaq sold off 1%, and the S&P 500 dropped 0.8%. Small caps tracked by the Russell 2000 reversed from a gain to a 1% loss.
- TipRanks
Hedge Fund Innovator Joseph Edelman Doubles Down on These 3 Biotech Stocks
Perceptive bought over 1.4 million shares of AMRN in the third-quarter, bringing the fund's total holding to 7.6 million shares. Edelman's fund first bought into Amarin in Q3 2018, and now holds more than $173 million of AMRN shares. It's not hard to understand why a biotech-focused hedge fund would go large on Amarin.
- Quartz
An extra letter “s” enabled a million-dollar real estate scam
The CEO of an unidentified Swiss company was scammed out of nearly $1 million by a multinational fraud ring, according to a criminal complaint unsealed last week in federal court. The executive, who is identified in the filing only as “S.K.,” was in the process of buying a piece of beachfront property in Belize. When S.K. got a third email from the lawyer with instructions for sending the remaining $918,000, S.K. wired it to what he thought was a bank account in Belize.
- Bloomberg
RenTech’s Billion Dollar Tax Cloud Darkens After IRS Ruling
Urban-Brookings Tax Policy Center Senior Fellow Steven Rosenthal weighs in on the multi-billion dollar tax dispute between Renaissance Technologies and the IRS. He speaks with Bloomberg's David Westin on “Balance of Power.
- Investopedia
What to Do When a Bear Market Whacks Your 401(k)
Plan Your Asset Allocation After you've determined how much money you will need, the next step is to figure out how your investments can help you get there. In this regard, asset allocation is the key. Your money should be divided among a variety of investments that are more aggressive or more conservative depending on your personal risk tolerance.
- MarketWatch
Tesla ‘Blade Runner’ pickup truck could be so futuristic that it leaves buyers cold
We expect focus to be on how well the actual design resonates with pickup buyers,” Emmanuel Rosner at Deutsche Bank said in a note Monday. Based on previous comments, starting price could be
- MarketWatch
Dow's 175-point drop led by losses for shares of Home Depot, Apple Inc.
The Dow Jones Industrial Average is down Wednesday afternoon with shares of Home Depot and Apple Inc. seeing the biggest declines for the index. Shares of Home Depot (HD) and Apple Inc.
- MarketWatch
This chart shows how Vanguard’s explosive growth has ‘taken on a life of its own’
Which fund manager has the most money? Vanguard doesn't command as much of the retirement account marketplace as Fidelity, nor advertise as much as Schwab (SCHW) , but it's well-known and respected among consumers. The chart above and the smaller one below come from data in the October fund flow report from research provider Morningstar.
- Reuters
GM sues Fiat Chrysler, alleging union bribery scheme cost it billions
General Motors Co on Wednesday filed a racketeering lawsuit against Fiat Chrysler Automobiles NV , alleging that its rival bribed United Auto Workers (UAW) union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. GM also alleged that Fiat Chrysler's former CEO, the late Sergio Marchionne, was central in the scheme. The No.
- TheStreet.com
Square Is Poised to Rally for a Retest of Its July High
To end the Mad Money program Tuesday night, Jim Cramer spoke with Amrita Ahuja, CFO of Square, Inc. , the payments' processor that's grown into a whole lot more. Ahuja said that while many people think of Square as just a credit card processing tool, the company's mission is economic empowerment. Square got its start with payment processing 10 years ago, Ahuja said, but it now offers 20 different products to help business with capital, loyalty, marketing and more.
- Barrons.com
An All or Nothing Bet on 3 Drugs in Celgene’s Pipeline
The CVRs are being issued as a bonus to Celgene shareholders by Bristol-Myers to compensate them if major drugs in the Celgene pipeline get approved and Bristol-Myers derives significant financial benefit. The CVR was changing hands on Wednesday morning under the ticker BQBBV at $2.23, up 35.5 cents on the session. It is expected to switch to a different ticker, BMY-R, on the New York Stock Exchange starting on Thursday.
- Bloomberg
What Warren Forgets About ‘Shameless’ Profiting in Housing
Democratic presidential candidate Elizabeth Warren attacked Wall Street firms on Monday for buying houses in the wake of the financial crisis, arguing that it contributed to the country's growing inequality. I'm sympathetic to Warren's criticism, and yet two things are true when it comes to the investor response to the housing bust: It did represent a transfer of wealth from stressed homeowners to the wealthy, contributing to inequality, but it also stabilized the housing market and local economies at a time when there were no other buyers. It's easy to show how investors buying foreclosed homes contributed to rising inequality.
- Investopedia
Retiring: Is $1 Million Enough?
Several factors determine how long your savings will last after you retire. Some are fairly straightforward, while others are less obvious and more difficult to predict. Here are some of the basic questions you should ask yourself when determining the proper retirement savings target for you.
- Fox Business
CPA Paul Miller: Tax deductions that can lower your 2019 tax bill -- there's still time
From charitable donations to business meals and commuter costs -- there is still time to lower your 2019 tax bill with the following write-offs. Charitable giving Charitable contributions are one of the few remaining deductions since Trump's tax overhaul. But how can you best take advantage of tax breaks for charitable giving?
- Fox Business
Apple flexes muscles as Trump, Cook tour facilities
President Trump and Apple CEO Tim Cook will tour facilities in Austin, Texas, on Wednesday where high-end Apple computers are assembled. The tour comes as Apple shares are on the verge of capping off their best year in a decade, up more than 69 percent, according to Dow Jones Market Data Group. Its CEO and Trump have developed a friendly relationship, with the president praising Cook in August for being one of the few tech CEOs to pick up the phone.
- Reuters
India's state-run banks report fraud of more than $13 billion in 6 months
India's state-run banks reported fraud worth 958 billion rupees ($13.3 billion) from April to end-September of this year, the country's finance minister said on Tuesday, as the government struggles to help banks recoup losses. State banks reported 5,743 cases of fraud in the period, most of which had taken place over the last several years, although 1,000 cases worth 25 billion rupees had just taken place, Nirmala Sitharaman told the upper house of parliament. Measures included the freezing of 338,000 bank accounts of inoperative companies in the last two financial years and the enactment of a law with a provision to confiscate the property of those found to have committed fraud and who have fled the country.
- Reuters
Apple starts construction of new campus in Texas
Apple Inc said on Wednesday it had started construction of a new campus in Austin, Texas, beside its existing facility where it makes the new MacBook Pro laptops. Apple Chief Executive Officer Tim Cook is set to give a tour of the Texas factory to U.S. President Donald Trump later on Wednesday. The new $1 billion, 3-million-square-foot campus will initially house 5,000 employees, with the capacity to grow to 15,000, and is expected to open in 2022, Apple said.
