Bank of America Merrill Lynch sees a scary good news-bad news scenario unfolding in 2018: A solid push higher in the first half followed by all sorts of potential trouble after. The S&P 500 would peak out around 2,863 in the scenario, or about 11 percent
Toyota Motor Corp. (TM) opened its first U.S. plant in 1988 in Georgetown, Kentucky. Now Toyota is threatening to move Camry production unless the plant quickly cuts costs. The video made the point that Toyota could build a Camry in Japan, ship it to Kentucky, and sell it for a bigger profit than it could by selling a car built in the state.
Bitcoin fell the most in a week after the company behind cryptocurrency tether reported a $31 million theft. The amount was taken from the Tether Treasury wallet on Nov. 19 and sent to an unauthorized bitcoin address, according to an announcement on the company’s website posted on Tuesday. Bitcoin dropped as much as 5.4 percent, the most since Nov. 13.
The Justice Department is citing some surprising authorities in its lawsuit to stop AT&T Inc. from buying Time Warner Inc.—namely the companies themselves. Time and again, the complaint quotes from statements and filings by AT&T and Time Warner to make the government’s case that the $85 billion merger would be bad for customers. The Justice Department strategy puts AT&T and Time Warner in the tricky position of having to explain that while, yes, they did write or say those words, they don’t imply what the government says they imply.
We issued an updated research report on Wells Fargo & Company WFC on Nov 20. The San Francisco-based company has traditionally followed organic and inorganic growth strategies. However, it is struggling with legal issues and escalating costs.Troubles
TORONTO/SAN FRANCISCO (Reuters) - Struggling ride-hailing firm Uber [UBER.UL] faces a fresh regulatory crackdown after disclosing it paid hackers $100,000 to keep secret a massive breach last year that exposed personal data from around 57 million accounts. Discovery of the U.S. company's cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, said Dara Khosrowshahi, who replaced co-founder Travis Kalanick as chief executive in August. "None of this should have happened, and I will not make excuses for it," Khosrowshahi said in a blog post.
Kevin Kaiser was on an airplane this summer, staring into his laptop, when he came up with the idea for taking on billionaire pipeline magnate Kelcy Warren. He was scrutinizing a nearly year-old prospectus for Sunoco Logistics Partners LP’s acquisition of Energy Transfer Partners LP, an agreement that merged two parts of Warren’s energy empire. For months, the 30-year-old Hedgeye Risk Management LLC analyst had heard clients complain that the deal -- along with a host of other Energy Transfer moves -- enriched Warren but did little to benefit Energy Transfer Partners unitholders, Kaiser said in an interview. Reading the prospectus, Kaiser realized Energy Transfer Partners investors could band
Advanced Micro Devices Inc. AMD recently announced that Hewlett Packard Enterprise’s HPE new ProLiant DL385 Gen10 server, which is powered by AMD’s EPYC processor has set new records across SPECrate2017_fp_base and SPECfp_rate2006.Notably, HPE Cloudline
Rich Ross, Evercore ISI, discusses what stocks to buy at all-time highs.
An options behemoth that’s been betting on a modest rise of the Cboe’s VIX index -- and traded 3.15 million contracts so far this year -- may roll over a huge position today or later this week based on trading patterns going back to July, Pravit Chintawongvanich, head of derivatives strategy at Macro Risk Advisors, wrote in a note. Rolling the trade over -- closing the old legs and refreshing the new ones -- would likely include more than 2 million contracts, around three times the average daily volume of VIX options, according to Cboe data of the past 20 sessions. The trader, who Chintawongvanich has dubbed the “VIX Elephant,” has bought 262,500 December VIX puts with a strike price of 12 and is long a VIX call spread that profits if December futures contracts expire between 15 and 25 -- selling 525,000 VIX calls with a strike price of 25 and purchasing 262,500 VIX calls with a strike price of 15.
Kingdom Holding's plan to borrow money to fund new investments has stalled because owner Prince Alwaleed bin Talal has been detained in Saudi Arabia's anti-corruption crackdown, according to four banking sources familiar with the matter. Kingdom had approached banks to obtain the loan, but the financing plan has been held up because the lenders are worried about potential repercussions if they lend to the prince's company, the sources said. One of the sources, who was approached for the loan, said it would have been worth roughly 5 billion riyals ($1.3 billion).
Tesla (TSLA) is lower on Monday, as analysts parse what its new electric semi truck, unveiled last week, means for the company and the trucking industry. Instinet's Romit Shah reiterated a Buy rating and $500 price target on the stock today, writing that Tesla's truck exceeded his expectations "on basically every metric (range, payload, speed, warranty and styling)" but that his optimism goes beyond that:
The “Fast Money” traders discuss Square's performance and recent investments that made the stock pop.
Decades after they were banned from the airwaves, Big Tobacco companies return to prime-time television this weekend — but not by choice. Under court order, the tobacco industry for the first time will be forced to advertise the deadly, addictive effects of smoking, more than 11 years after a judge ruled that the companies had misled the public about the dangers of cigarettes. Tobacco control experts say the campaign — built around network TV and newspapers — will not reach people when they are young and most likely to start smoking.
Societe Generale says a 10-year Treasury yield above 2.5% could result in a US equity sell-off. If the yield for the 10-year benchmark note climbs above the crucial threshold of 2.5% that could start working against US stocks that are already close to the most expensive since the dot-com bubble, according to strategists at Societe Generale. Treasurys reaching that level would imply 7% downside for US equities, while an increase to 2.75% could translate to a 15% drop, Societe Generale data shows.
Stocks are popping here ahead of a short week, just as analysts get bullish on Wall Street. Plus, is big money finally coming to the crypto trade? Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance’s Andy Serwer and Melody Hahm.
Earlier this month, Boeing's (BA) market cap overtook General Electric's (GE) knocking the conglomerate from the top of the industrials sector for the first time in decades. It's been a tumultuous year for GE for sure, with the stock down more than 40% year to date, following poor earnings and its dividend cut and leaving investors wondering what to do now. Jefferies' Sheila Kahyaoglu reiterated a Buy rating on the stock today and raised her price target by $12 to $312, writing that she's confident that Boeing can grow earnings at a double digit rate, thanks to high demand and productivity. While there is some risk of disruption to commercial production, our analysis highlights the Upside / Downside case remains favorable based on the drivers of FCF.
Credit card processors are mostly responsible for data transmission and security when you use your card at a store or online to make a purchase. Below, we've outlined the major players in credit card processing and described their major strengths.
Notable earnings reports expected Tuesday include Campbell’s Soup (CPB), Lowe’s (LOW), Dollar Tree (DLTR), and salesforce.com (CRM). All will not be quiet in the nation’s capital, however, as President Donald Trump is set to pardon his first set of turkeys since taking office at 1 p.m. ET. President Donald Trump will pardon two turkeys on Tuesday at the White House.
Electricity generator Luminant is cutting about 600 jobs as it closes three coal-fired power plants and a mine in Texas. The Texas Workforce Commission said Monday that Luminant plans to make the layoffs in January. Luminant previously announced that it would shutter the Monticello, Big Brown and Sandow power plants.
21st Century Fox Inc. agreed to create a workplace council at its embattled Fox News channel and will receive a $90 million insurance payment as part of a deal settling shareholder litigation over sex-harassment scandals at the network. The conduct of Fox News has become a threat to 21st Century Fox’s efforts to acquire full ownership of Sky Plc, one of Europe’s biggest pay-TV providers. The deal is the latest step in the company’s attempt to address reporting and oversight failures that allowed alleged sexual misconduct by its chief of its news operations, the now-deceased Roger Ailes, and others to continue without the board being aware. Former Fox employees involved in harassment and discrimination lawsuits against the company have been testifying to U.K regulators who are scrutinizing the $15.4 billion offer for British pay-TV company.
Because I can just hear myself advising some rich family what to do with its wealth, and I would have to go heavily toward stocks, because there are so many bubbles out there and the stock market isn't one of them. The rich people there know to buy Bitcoin.
Shares of HPE fell more than 6 percent in after-hours trading. Hewlett Packard Enterprises, known for its computer servers, is still adjusting to a new landscape in which corporate customers are placing more of their digital operations in the cloud and moving away from purchasing their own equipment. Whitman, one of the most powerful women in U.S. business and a former candidate for California governor, split Hewlett Packard Co into HPE and PC-and-printer business HP Inc in 2015 as part of a plan to turn around the large corporation.
Five Wal-Mart Stores Inc. executives took advantage of the stock’s biggest rally in nine years to a record high last week to sell a total of $11 million worth of shares, as soon as they were allowed to trade. The stock WMT, +0.01% had shot up 10.9% on Thursday to a record close of $99.62, after the discount retail behemoth reported fiscal third-quarter earnings, revenue and same-store sales that beat expectations. That was the biggest one-day percentage gain since Oct. 28, 2008. The next day, the stock pulled back by 2.2%, trading in an intraday range of $96.58 to $100.13 before closing at $97.47. Some time Friday morning, President and Chief Executive of Walmart International David Cheesewright
Goldman Sachs says this holiday quarter is going to account for a bigger percentage of annual sales for retailers than in years past. Everyone knows the holiday season creates loads of good deals for consumers. Before we get into those specific recommendations, let's take a minute to quantify how important Black Friday and the overall holiday season are to the bottom lines of retailers — and explain why this year is particularly compelling.