Private equity firms are killing it. Money typically follows performance, and so investors have been pouring funds into the private equity asset class in recent years. Nowhere is this more clear than at Blackstone, the largest publicly-traded private equity firm, which said Thursday that assets under management had hit a record high of $387 billion.
Given where we are in the bull market, investors should own certain types of stocks according to billionaire Ken Fisher, founder and executive chairman of Fisher Investments. "When we're in the latter third of a bull market, you want to own big, well-known names and overwhelmingly in tech, healthcare, consumer staples, but not consumer discretionary -- telecom and also financials." For financials, Fisher prefers foreign financials over U.S. financials. "The U.S. banks are impacted by a flattening yield curve to the extent that the Fed raises short-term rates - which doesn't apply to foreign banks," he said. "Foreign banks' loan structure is markedly different than American banks' loan structure."
Warren Buffett generally likes to take a hands-off approach when it come to investing in companies, but he has some advice for CEOs on how to run a business better. Warren Buffett, generally speaking, likes to take the hands-off approach with companies he and Berkshire Hathaway invest in.
The Fast Money traders discuss the Dow, S&P and Nasdaq all hitting fresh records. The S&P 500 adding nearly $4 trillion in market cap since the election. Stocks are at all-time highs and America is getting rich.
Big money managers, already on guard to protect one of their richest sources of assets, are on alert as more details emerge on how prized 401(k) contributions could fall victim to President Donald Trump’s tax overhaul plan. The New York Times reported Friday that the administration may seek to limit pretax contributions to 401(k) plans to as little as $2,400 annually, down from the current maximum of $18,000 for most workers and $24,000 for those 50 years or older. The measure, rumored for months as a way to help offset the individual and corporate tax cuts that the Trump administration hopes to enact by year end, would essentially pull future tax revenues forward by requiring Americans to pay taxes on retirement savings now instead of when they tap their nest eggs.
After reporting lower than expected quarterly profits and slashing its earnings outlook for 2017, General Electric's (GE) light bulb might be starting to burn out. After over 100 years of lighting darkened doorsteps, GE's consumer lighting division will likely be among the first of the $20 billion in assets that are sold or spun off as CEO John Flannery works to consolidate the aging company. GE formally put its consumer lighting division up for sale in June. In a recent earnings call with investors, Flannery said "everything is on the table, and there have been no sacred cows." "Each GE business is being measured against a set of rigorous strategic and financial objectives," Flannery said.
Hedge fund manager Bill Ackman’s proxy fight against the largest payroll processor in the world, Automatic Data Processing (ADP), has challenged the company to answer criticisms about its operational performance and particularly inflated costs. ADP CEO Carlos Rodriguez told Yahoo Finance that the battle has focused a lot of talk on cost cutting when it should be about growing the top line. ADP’s margins stand significantly below its closest peer, Paychex (PAYX), but Rodriguez emphasized it’s not an apples-to-apples comparison.
"Unacceptable" is how John Flannery, the chief executive officer of General Electric Co. (GE) , described the company's most recent quarterly results. "Things will not stay the same," he said on a conference call Friday in which he also slashed GE's 2017 projections and outlined restructuring plans. One other thing that may not the stay the same is the company's $0.96 cents per share dividend, which translates into a 4.04% current yield. Flannery had previously pledged to maintain the struggling conglomerate's dividend, but even that is now on the chopping block for 2018. It's a "reset year," he said. So what say analysts about the news that GE isn't committed to maintaining its dividend? "The
Facebook Inc. FB recently announced that in the coming weeks the company will experiment with “news subscription models in Instant Articles” that will enable news publishers to add subscribers to their platforms. For the test, Facebook has partnered with 10 U.S. and Europe-based publishers. Per the blog post, the trial will provide publishers with two options – metered model and freemium model – to choose from.
The financial markets have changed a lot since Oct. 19, 1987, or Black Monday when the Dow crashed more than 500 points and for a brief period the world geared up for the next Great Depression. The assets traded, the technology and speed at which they
More than 66 million Americans will see a 2% increase in their monthly Social Security and Supplemental Security Income (SSI) benefits in 2018. But many will see their take-home pay stay about the same as it was in 2017. In dollars and cents, the average retired worker's monthly benefit will rise $27 to $1,404 in 2018 from $1,377 in 2017. But depending on what happens with Medicare premiums, many people could see little or nothing of that 2% COLA, said Elaine Floyd, director of retirement and life planning at Horsesmouth. By way of background, the SSA deducts the Medicare Part B premium, which helps pay for physician, outpatient hospital, home health, and other services for the aged and disabled
Roche Holding AG's RHHBY reported sales of CHF39.4 billion in the first nine months of 2017, up 5% from the year-ago period. Sales at the Pharmaceuticals division increased 5% driven by strong growth in Tecentriq, Ocrevus, Alecensa and Perjeta which was partially offset by lower sales of Tarceva, Tamiflu and Avastin. Diagnostics division sales climbed 5% primarily on the back of strong immunodiagnostic business.
Pharmacy-benefit managers, the secretive, opaque middleman in the pharmaceutical supply chain, have never been more powerful. Express Scripts Holding Co. (ESRX) , the largest stand-alone PBM, is chief among those players. Health insurer Anthem Inc. (ANTM) is Express Scripts’ biggest client, and the two have had a 10-year PBM contract since 2009.
Feeling stressed about money isn't uncommon, but for many people with student loans, the burden takes a toll physically and psychologically. According to a Student Loan Hero survey of more than 1,000 student loan borrowers, respondents reported experiencing anxiety, insomnia, headaches, social isolation, and more as a result of their student loan debt. Starting your career with tens of thousands of dollars in student loan debt can make the goal of financial security seem unattainable.
NEW YORK (AP) -- Stocks that moved substantially or traded heavily Friday: Celgene Corp., down $14.63 to $121.33 The drugmaker ended late-stage testing of a potential treatment for Crohn's disease
Might as well go ahead and start getting the hats made now -- the Dow Jones Industrial Average has its sights set on 30,000. At this point, that's more a question of "when" than "if". At the start of this year, the Dow pushed past 20,000 for the first time in history. And this month, the Dow has just definitively blown past 23,000. Before we get any further, let's be clear about one thing: there's no particular significance to the 30,000 number versus Dow 29,999. While there are some psychological effects around eclipsing a big round number for the broad market indices, hitting Dow 30k is all about the fact that we're in the midst of a rip-roaring equity rally that's not showing any signs of
The ruling by Los Angeles Superior Court Judge Maren Nelson marked the latest setback facing women and family members who accuse J&J of not adequately warning consumers about the cancer risks of its talc-based products. The decision followed a jury's decision in August to hit J&J with the largest verdict to date in the litigation, awarding California resident Eva Echeverria $70 million in compensatory damages and $347 million in punitive damages.
Walmart Stores, Inc.'s ( WMT) stock has gone up nearly 25% this year. Even with such a grand surge, the 55-year-old retailer, of which grocery is a big factor, appears poised for further growth because it is remaking itself into, for all intents and purposes, a startup. Between its billion-dollar acquisitions of millennial-oriented brands like Bonobos and the hiring of a bona fide startup veteran to run its e-commerce platform, the supermarket's tech act is working out. Stocks grew from $66 in January to nearly $86.16 as of Wednesday, Oct. 18. That's compared to a 13% growth rate for the S&P 500 and about 34% for Amazon.com, Inc. ( AMZN) in the same period. But unlike Amazon, Walmart's growth
Iraq said on Saturday it was increasing oil exports from the southern Basra region by 200,000 barrels per day to make up for a shortfall from the northern Kirkuk fields. The output from Kirkuk fell this week when Iraqi forces took back control of oilfields from Kurdish fighters who had been there since 2014.
The benchmark S&P 500 and tech-heavy Nasdaq also joined the blue chip index at fresh records in a week that was heavy on earnings, news on tax reform, and reports about who will be the next leader at the Federal Reserve. Notable earnings due out this week include Hasbro (HAS), General Motors (GM), Lockheed Martin (LMT), Caterpillar (CAT), McDonald’s (MCD), AT&T (T), Chipotle (CMG), AMD (AMD), Visa (V), Coca Cola (KO), Boeing (BA), Comcast (CMCSA), Ford (F), Celgene (CELG), UPS (UPS), Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT), Expedia (EXPE), ExxonMobil (XOM), and Chevron (CVX) among others.
We asked folks what it was like to live through the Black Monday Crash. 30 years later their stories shed light on a frightening moment for the markets and investors around the world. Jim Cramer spoke about hearing about warning signs and moving his clients into cash. While they were largely unscathed, Cramer recalled the what is now known as Terrible Tuesday and no one knew the value of their portfolios. Peter Schiff spoke about writing a letter to then Fed Chairman Allen Greenspan, who wrote back. TheStreet Inc.'s (TST) CEO Dave Callaway recalled being a cub reporter in Boston and understanding the enormity of the day. Jack Bogle, founder of The Vanguard Group, told TheStreet's Anders Keitz
World stocks advanced, bond yields rose and the U.S. dollar strengthened on Friday on increased hopes President Donald Trump could make progress on his fiscal plans after the U.S. Senate approved a budget blueprint that paves the way for tax cuts. U.S. Republican Senator Rand Paul appeared to back the administration's sweeping tax cut plan, saying he was "all in" for massive tax cuts, even as the Senate passed a key budget measure without his support one day earlier. "It's just a reaction to the thought that just maybe there might be something coming from Congress in the way of tax reform," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
The global insurance industry is worth nearly $5 trillion, and insurance companies are at risk of losing a share of this valuable market to new entrants. Some are helping incumbents deliver better end products, while others are directly competing with legacy players.
Short interest for General Electric Co. (GE) shot up by $100 million by Friday afternoon following the company's report of disappointing third quarter financials earlier in the day. According to S3 Analytics, short sellers' $100 million pile-on brings total short interest for GE to $3.1 billion. Shorts are now up $913 million in year-to-date mark-to-market profits, S3 said. Short interest had been declining since 2016, when it averaged $3.8 billion. After falling below $2 billion in May of this year, short interest peaked around $3.1 billion in June. It then fell again in August, but is now poised to top $3.1 billion. GE is the largest short in the worldwide industrial conglomerate sector, S3