- CNBC.com•12 hours ago
Apple loses $64 billion in stock value as Wall Street is in 'full panic mode' on iPhone demand
Disappointing guidance from key iPhone suppliers is raising worries about Apple shares and could signal the death of the technology-driven stock rally. Apple's stock is cumulatively down 7.1 percent in the three trading sessions through Monday, wiping out $63.9 billion of shareholder value. The decline was sparked by Taiwan Semiconductor Manufacturing's weaker-than-expected guidance Thursday morning. The world's largest semiconductor foundry and key Apple chip partner said its revenue forecast range for the second quarter is $7.8 billion to $7.9 billion versus the Wall Street estimate of $8.8 billion. The company blamed "weak demand" in the mobile sector for its forecast. "Heading into Apple's
- CNBC.com•11 hours ago
1 in 3 workers can’t answer this question about their retirement savings
Here's a question: You've built up a massive nest egg at your job, and you're about to retire. What are your plans for your hard-earned savings? For nearly a third of workers, the answer is "I don't know." Those were the findings from a recent survey by the Employee Benefit Research Institute, a research group that focuses on health, savings and retirement. EBRI conducted an online poll of 2,042 adults in January. "In most cases, you would expect people to do a couple of things: You wouldn't use all of it to buy lifetime income and you'd want to keep some of it for emergencies," said Craig Copeland, a senior research associated at EBRI. "It's troubling that they can't recognize what they think
- InvestorPlace•8 hours ago
Buy Freeport-McMoRan Inc on the Post-Earnings Dip
From a logic-driven perspective, miner Freeport-McMoRan Inc (NYSE:FCX) should have done quite well last quarter. For the quarter ending in March, metal mining outfit Freeport-McMoRan turned $4.87 billion worth of revenue into earnings of 46 cents per share. The figures fell short of the 56 cents per share of FCX stock analysts were collectively expecting, and the top line of $4.93 billion they’d modeled.
Business Insider•12 hours agoJim Cramer has done a complete 180 on Snap (SNAP)
"Mad Money" host Jim Cramer has changed his tune on Snap almost 2 months after comparing the company to the early days of Facebook. Jim Cramer is turning his back on Snap. "Sure, I was a skeptic, but after this quarter, I'm now a believer," Cramer said on "Mad Money" following the report.
- Bloomberg Video•yesterday
Third Federal CEO Says Mortgage Market 'Going Gangbusters'
Apr.23 -- Third Federal Savings and Loan Chairman and Chief Executive Officer Marc Stefanski discusses the residential mortgage market, banking regulation, and the company's efforts to retain workers. He speaks with Bloomberg's Julia Chatterley, Joe Weisenthal and Scarlet Fu on "What'd You Miss?"
Associated Press•yesterdayUS brands suffer collateral damage in Chinese corporate war
It was looking like a banner year for business in China. The U.S. clothing company was expecting a 20 percent jump in online sales on Alibaba's Tmall, thanks to the e-commerce giant's massive reach. The company refused to sign an exclusive contract with Alibaba, and instead participated in a big sale promotion with its archrival, JD.com Inc. Tmall punished them by taking steps to cut traffic to their storefront, two executives told The Associated Press.
Yahoo Finance•7 hours ago3 big changes coming from the Trump tax cuts
It will take months or years to tell if the tax cuts President Trump signed at the end of 2017 will boost economic growth or help create jobs, as intended. Congress’s Joint Committee on Taxation has published new estimates of the ways people will file their taxes for 2018, the first year most of the new tax provisions will be in effect. One of the most disruptive changes to the tax code is a new limit of $10,000 on the deductibility of state and local taxes, which used to be subject to no limit.
Yahoo Finance•9 hours agoStocks are getting smoked, and companies can't step in to stop it
Stocks are getting smoked on Tuesday. Each of the major U.S. indexes was in the red, with the Dow seeing the biggest losses, falling 2.2%, or 550 points, while the S&P 500 was also down 1.7% and the Nasdaq was down 1.9%. The Dow was being dragged lower by shares of Caterpillar (CAT), down over 6% after having rallied earlier in the session following an earnings beat.
- InvestorPlace•11 hours ago
3M Co Stock Plunges on Q1 Earnings Miss, Lower Guidance
This is an increase over its earnings per share of $2.16 from the same period of the year prior. 3M Co reported operating income of $1.01 billion for the first quarter of the year. Revenue reported by 3M Co in the first quarter of the 2018 was $8.28 billion.
- InvestorPlace•13 hours ago
Under Armour Inc Earnings Could Be a Bullish Game Changer
Can Under Armour (mostly) deliver again off the field of play — and convincingly so, on the playing pitch of the UAA stock chart for a second time in a row? With the expectations bar set reasonably low and the Street forecasting a loss of 4 cents and sales of $1.1 billion, I personally like the long game in UAA stock. It has been nearly three weeks since last penning a bullish article on UAA stock at InvestorPlace.
- InvestorPlace•6 hours ago
Wynn Resorts (WYNN) Shares Dip After Hours Despite Q1 Earnings Beat
Wynn Resorts, Limited (NASDAQ:WYNN) reported its latest quarterly results after the bell Tuesday, topping analysts’ expectations. The company brought in first-quarter revenue of $1.72 billion, rising 20.5% compared to the year-ago period thanks in part
InvestorPlace•13 hours ago3 Reasons Why Cisco Systems, Inc. Will Hit New Highs Soon
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have been on an impressive rebound as of late. While Cisco stock came down with the rest of the market in both February and April, it’s been an out-performer on the way up. Over the last ten calendar days, Cisco stock is up more than 9%, compared to the 3.6% and 5.25% respective gains for the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) and the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ).
- Investopedia•13 hours ago
Ford Stock Is Too Cheap to Ignore: Here's Why
Iconic automaker Ford Motor Company (F) began 2018 with an earnings warning on Jan. 16. This warning was confirmed by a negative reaction to fourth quarter results released on Jan. 24. The company is set to report first quarter earnings after the close on April 25. Shares of Ford traded as high as $13.29 on Jan. 16 and declined 24% to the 2018 low of $10.14 on March 2. Ford closed Monday, April 23, at $11.04, down 10.6% year to date and deep in correction territory at 16.9% below the January high. Since the March low, the stock is up 8.9%. Analysts expect Ford to post earnings per share of 41 cents when the company reports first quarter earnings on Wednesday. Analysts expect year-over-year gains
- Zacks•12 hours ago
Nokia (NOK) to Report Q1 Earnings: What's in the Cards?
Nokia Corporation NOK is scheduled to report first-quarter 2018 financial results before the opening bell on Apr 26. The company is likely to report higher revenues backed by healthy growth dynamics.Whether this could result in higher earnings for the
InvestorPlace•yesterdayA Smarter Nvidia Corporation Play for a Potential 500% Return
According to some market pundits, issues like Apple Inc.’s (NASDAQ:AAPL) woes, China trade war concerns and today’s much more volatile and erratic cryptocurrency market can all be fingered as reasons why investors should stay away from Nvidia stock. If you’re a buyer of those markets, Nvidia — whose chips are leaders in all those areas — should sound attractive. This appears to be the case for Nvidia stock right now–and that’s good news for bulls.
- InvestorPlace•yesterday
Investors Are Dumping Altria Group Inc Stock Without Looking at the Facts
The usually reliable Altria Group Inc (NYSE:MO) is off to a horrific start this year, with MO stock shedding 18%. For technical analysts, the recent break below $60 was highly discouraging. In short, MO stock must regain its footing quickly due to the significant technical damage.
Reuters•6 hours agoU.S. Supreme Court upholds legality of patent review process
The U.S. Supreme Court on Tuesday gave its stamp of approval to a government review process prized by high technology companies as an easy and cheap way to combat "patent trolls" and others that bring patent infringement lawsuits. The justices ruled 7-2 that a type of in-house patent review at the U.S. Patent and Trademark Office does not violate a defendant's right under the U.S. Constitution to have a case adjudicated by a federal court and jury. The court ruled against Oil States International Inc (OIS.N), a Houston-based oilfield services company that had challenged the legality of the process, called inter partes review (IPR).
- CNBC Videos•2 days ago
Sears CEO Eddie Lampert's hedge fund ESL proposes to buy ...
ESL Investments, the hedge fund led by the CEO of Sears Holdings, Eddie Lampert, has made a proposal to buy some of the retailer's assets.
Reuters•yesterdayTrump's revenge: U.S. oil floods Europe, hurting OPEC and Russia
MOSCOW/LONDON (Reuters) - As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and one that has helped elevate benchmark Brent prices close to four-year highs. Now, the relatively high prices brought about by that pact, coupled with surging U.S. output, are making it harder to sell Russian, Nigerian and other oil grades in Europe, traders said.
- InvestorPlace•yesterday
Kinder Morgan Inc Finally Gives Investors What They Want
Pipelines were supposed to be safe tollways that produced plenty of cash flows. Kinder Morgan stock has pretty much languished since that fateful day. Moves to right the ship at Kinder Morgan have begun to work and KMI has finally given long-suffering shareholders what they wanted all the time — a big return to dividend growth.
Business Insider•2 days agoBitcoin Cash has risen 80% over the last week
Bitcoin Cash is up 17% against the dollar on Monday. The cryptocurrency has risen 80% over the last seven days. An upcoming 'fork' of the currency — a change to its underlying code — appears to be supporting the price rally. Follow the live Bitcoin Cash
- CNBC.com•yesterday
Tax bill will slash by half the number of homeowners claiming the mortgage deduction
Tax returns using mortgage interest deduction Already, the deduction was not used by most taxpayers. Of the 150 million or so tax returns the IRS has received annually in recent years, just 20 percent claimed the deduction, according to research from the Urban Brookings Tax Policy Center. The anticipated drop is largely due to the near-doubling of the standard deduction that took effect Jan. 1 under the new tax law. Fewer taxpayers are expected to itemize their deductions, which is the only way to take advantage of the tax break for interest paid on mortgages. The new report estimates that 18 million households will itemize deductions this year, down from 46.5 million last year. Taxpayers would
- MarketWatch•12 hours ago
IBM raises dividend by 4.7%
International Business Machines Corp. IBM, +0.61% said Tuesday it will raise its quarterly dividend by 4.7% to $1.57 a share, marking the 23rd-straight year the technology company has boosted its payout. The new dividend, up from $1.50 a share, will be payable June 9 to shareholders of record on May 10. The stock rose 0.4% in morning trade to $146.38. At current prices, the new annual dividend rate would imply a dividend yield of 4.29%, compared with the SPDR Technology Select Sector ETF XLK, -0.74% current dividend yield of 1.35% and the implied yield for the Dow Jones Industrial Average DJIA, -0.71% of 2.17%, according to FactSet. IBM's stock has lost 4.5% year to date, while the tech-sector
- Associated Press•7 hours ago
Illumina: 1Q Earnings Snapshot
SAN DIEGO (AP) _ Illumina Inc. (ILMN) on Tuesday reported first-quarter profit of $208 million. On a per-share basis, the San Diego-based company said it had profit of $1.41. Earnings, adjusted for one-time gains
- Zacks•2 days ago
Micron (MU) Down 14.1% Since Earnings Report: Can It Rebound?
A month has gone by since the last earnings report for Micron Technology, Inc. MU. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Micron reported outstanding quarterly results for the second quarter of fiscal 2018.
