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.
The stakes for Elon Musk are high: If he gets the Model 3 right, he will remake a trillion-dollar industry and do more to reduce carbon emissions than anyone in history #tictocnews More from
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.
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.
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.
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.
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.
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 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.
China Tower Corp., the state-owned wireless infrastructure operator, has attracted Hillhouse Capital and a unit of Alibaba Group Holding Ltd. as investors in its planned Hong Kong initial public offering, people with knowledge of the matter said. Hillhouse funds and Taobao China Holding Ltd. are among the 10 firms that agreed to buy about $1.4 billion of stock as cornerstone investors, the people said. China Tower is expected to start taking investor orders Monday, said the people, who asked not to be identified because the details are private.
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
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.
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.
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.
Under Armour Inc. is scheduled to report second-quarter earnings on Wednesday before the opening bell, and analysts will be looking for signs that the athletic company’s oversupply of merchandise isn’t hurting the brand. “Excess carry-over inventory, fallout from poor product distribution decisions, and developing brand image degradation all point to trouble ahead,” said Susquehanna Financial Group analysts led by Sam Poser. This isn’t the first time that the relevance of the Under Armour brand or the company’s inventory levels have caused analyst unease.
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%.
Chip-company executives will to have to address an elephant in the room on conference calls this earnings season as the industry grapples with growing trade tensions with one of its largest customers, China. Last week, the White House threatened to slap tariffs on another $200 billion in goods imported from China if the country retaliated for U.S. tariffs already levied. China, however, has demonstrated other tactics against U.S. chip makers.
Both General Electric GE and Honeywell HON topped earnings estimates Friday, but the situations behind these two storied firms couldn’t be more different. In Q4 2017, GE’s legacy insurance business alone accounted for a $0.91 per share loss, causing investors to pressure the company to spin off its various segments and return some of their capital.
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.
The secret to successful trading is that there is no simple secret. There are people like TheStreet's Jim Cramer that can help you in the endeavor, but you still have to put your nose to the grindstone and make a real effort to do the necessary work. There has been tremendous growth in a passive approach to the market in recent years.
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?