U.S. West Texas Intermediate crude oil futures are trading sharply higher late Tuesday after President Trump said he would hold an extensive meeting with Chinese President Xi Jinping at the G-20 summit in Japan later this month. “Had a very good telephone conversation with President Xi of China. Later today, traders will get a chance to react to the latest weekly inventories report from the American Petroleum Institute.
All personal finance books harp on why it's critical to save for retirement. Brokerage firms publish studies about how much people are saving for retirement. Okay, I get it: You're putting money aside for the future and letting it accumulate as a reserve, which is the very definition of saving.
Halo Labs Inc (OTC: AGEEF), a Canadian cannabis extraction company, said it will expand globally through the acquisition of Lesotho-based Bophelo Bioscience & Wellness. Prior to agreeing on the acquisition, Halo Labs and Bophelo were partners working together on a 5-hectare cultivation and production site. Now, Halo plans to acquire all 40.79 million shares of Bophelo for CA$24.7 million ($18.4 million).
Shares of Darden Restaurants fell on Thursday after the operator of Olive Garden, Longhorn Steakhouse and Cheddar's Scratch Chicken restaurant chains reported fiscal fourth-quarter earnings that missed analysts' forecasts. Shares of Darden dropped nearly 4% in early trading on Thursday after the Orlando-based company said it earned $208 million, or $1.67 an adjusted share, vs. $174.5 million, or $1.41 an adjusted share, a year earlier. Sales rose to $2.23 billion from $2.13 billion.
Barrick Gold Corp, the world's No. gold miner, believes its proposed offer to take full control of its African unit is "more than fair" and will engage with Acacia Mining Plc's board and minority shareholders to win them over, Chief Executive Mark Bristow told Reuters on Tuesday. Acacia agreed on Tuesday to extend to July 9 the deadline for Toronto-based Barrick to make a firm offer to acquire the 36.1% of the company it does not already own.
European Central Bank Vice President Luis de Guindos said on Thursday that the last monetary decision taken by the central bank was taken unanimously by members of the Council. There was no divergent opinion with relation to the communique of the decision taken in Vilnius two weeks ago," de Guindos said during a conference in Santander in the north of Spain. On Tuesday, ECB Governor Mario Draghi hinted at new stimulus measures that had yet to be discussed by the ECB's Governing Council, while Reuters sources said rate setters had not expected such a strong message.
Sen. Thom Tillis, a North Carolina Republican, comments on the outlook for Federal Reserve monetary policy during an interview with Bloomberg's David Westin on "Balance of Power."
Tech unicorn Slack is set to go public on Thursday under the ticker “WORK” in a direct listing, meaning there is no price set ahead of trading and no banks are underwriting a new offering. “Basically whoever owns the shares before it goes public just lists the shares and they're for sale,” Michael Wade, IMD Business School Professor, told Yahoo Finance's The Final Round. The Slack Technologies Inc. logo is seen during the company's IPO at the New York Stock Exchange (NYSE) in New York, U.S. June 20, 2019.
In the daily bar chart of ORCL, below, we can see that prices corrected in the fourth quarter of 2018 before rebounding sharply this year until late April. The daily On-Balance-Volume (OBV) line shows weakness from May to June signaling more aggressive selling and the Moving Average Convergence Divergence (MACD) oscillator crossed below the zero line in May for an outright sell signal. In the weekly bar chart of ORCL, below, we can see how prices were weakening on this time frame.
Blue Prism, whose losses deepened in the first half of the year, has agreed to buy software group Thoughtonomy for up to £80m as it seeks to expand its cloud-based products and drive into artificial intelligence. It now has plans to take advantage of the cloud infrastructure developed by Thoughtonomy, a fellow RPA (robotic process automation) company.
Siemens plans to cut 2,700 jobs at its gas and power company, in addition to 10,400 it is already shedding in its core units, the German engineering firm said on Tuesday. Siemens said last month it was spinning off its gas and power business, which has acted as a drag on the firm's performance as the rise of renewable power hits demand for gas turbines. The cuts will primarily affect the projects and power transmission businesses as well as support functions.
United States Steel Corporation (X) has dropped to price levels traded during the Obama administration after relinquishing the last gains posted during Donald Trump's presidency. The pain has continued through mid-year, with U.S. Steel recently guiding second quarter earnings per share (EPS) below previous forecasts and idling three blast furnaces in an effort to match demand with a shrinking order book. A modest uptick stalled at $46 in 1993, giving way to a slow-motion downtrend that continued into March 2003's low at $9.90.
Indonesia's central bank held its policy interest rate unchanged on Thursday, but moved to cut the reserve requirement for banks and said it was now appeared a "matter of timing and magnitude" before it made its first cut in rates since September of 2017. Bank Indonesia (BI) left its 7-day reverse repurchase rate at 6.00%, in line with the expectations of 19 out of 22 analysts surveyed by Reuters. Governor Perry Warjiyo said BI would from July lower the reserve requirement for banks by 50 basis points to boost liquidity.
Adobe jumped Wednesday, right at the 291.81 buy point. Late Tuesday, the stock reported a 10% earnings per share gain as revenue climbed 25%, both beating Q2 views. But the software maker gave weak Q3 guidance.
An “avian incident” sparked a fire at one of California's biggest solar farms, affecting 1,200 acres and knocking out 84% of the California Valley Solar Ranch's generating capacity. The June 5 incident didn't damage solar panels at the 250-megawatt power plant, but distribution poles and cables need to be replaced, according a regulatory filing Wednesday from owner Clearway Energy Inc. The company didn't say exactly how the blaze was ignited.
The Food and Drug Administration's decision on the self-injected medicine, Vyleesi, may help ignite shares that have fallen 60% in the past year, Barclays analyst Balaji Prasad wrote earlier this week. Barclays estimates the drug could bring in annual revenue of roughly $150 million by 2030. Shares of small-cap drugmaker Palatin Technologies Inc. will react to the FDA's decision as it is set to receive a $60 million payment upon approval with further milestones and royalties dependent on the drug's commercial success.
The three Korean automotive brands are producing the highest-quality vehicles in the U.S., according to an influential annual survey by J.D. Power. Genesis, Kia and Hyundai – all part of the same Korean manufacturing group – took the first, second and third slots, respectively, for the second straight year in the J.D. Power Initial Quality Study (IQS). Their electronics performance was especially strong.
Stocks to Buy for $20 or Less Better synergies with Aetna also contributed favorably to the higher outlook. CVS expects it will exceed its target savings of $750 million in 2020. It found synergies stemming from the elimination of duplication in corporate and operational functions, medical cost savings such as formulary alignment, and purchasing efficiencies.
DUBAI/DOHA (Reuters) - HSBC has been hired by a state-controlled port operator in Qatar, QTerminals, to coordinate a $500 million loan, sources familiar with the matter said, securing its first mandate as top adviser for a deal in Qatar since a regional rift between Doha and its neighbours erupted. The London-listed bank -- along with other lenders -- was caught up in Qatar's dispute with its neighbours Saudi Arabia, United Arab Emirates, Bahrain and Egypt, which in 2017 cut diplomatic and transport ties with Qatar accusing it of financing terrorism, a charge Doha denies. Along with other banks, it side-stepped high-profile Qatar deals in the aftermath of the diplomatic crisis and prioritised business in Saudi Arabia, where it has a strong presence, as the kingdom promised a slate of deals as part of its efforts to open and transform the economy in an era of lower oil prices.
A Chinese court has ruled that bike-sharing startup Ofo, once valued at upwards of $2 billion, has no ability to pay its massive debts to either suppliers and users, adding another chapter to a cautionary tale for investors in China's frothy startup sector. Ofo “has basically no assets” (link in Chinese) and therefore cannot repay Tianjin Fuji-Ta Bicycle, a supplier that sued the operator of the bike-share company this year to recover the roughly $36 million it was owed, a court in the city of Tianjin ruled on Monday (June 17). It noted that the company's bank accounts either have a zero balance or are frozen, and that it had no property, cars, or investment assets either, in a verdict first reported by China Securities Journal, part of the state-run Xinhua news group.
The US is not happy about India's data localisation plans and is reportedly retaliating by crushing Indians' H-1B dreams. The Donald Trump administration plans to slash the number of H-1B visas that go to Indians, according to a Reuters report. The United States has told India it is considering caps on H-1B work visas for nations that force foreign companies to store data locally, three sources with knowledge of the matter told Reuters, widening the two countries' row over tariffs and trade.
The concerns around the demand for Tesla Inc. s cars are resurfacing as the second quarter nears a close, with Goldman Sachs analyst David Tamberrino saying volume estimates for the second half of the year and beyond appear to be high, considering there are now fewer “levers to pull to stoke demand going forward. The analyst said the second quarter may have been a better environment for both demand and deliveries, “but to a level that is likely not sustainable.
Value Stocks to Buy for the Second Half Here are ten such retirement stocks to buy and hold forever. Bank of America (BAC) Dividend Yield: 2.1% It might seem strange to open the list with Bank of America (NYSE:BAC). After all, we're only a bit more than a decade on from the financial crisis.
Now, a different Trump tweet could be the very thing which starts a melt-up in markets in June, because this tweet basically says that a trade deal could be coming soon. Value Stocks to Buy for the Second Half With that in mind, let's take a look at six stocks that are ready to bounce in a big way in the event a trade deal does get struck between the U.S. and China sometime soon. Stocks to Buy for a Trade War Bounce: Alibaba (BABA) If the U.S. and China strike a trade deal in the foreseeable future, one stock that will fly higher is Alibaba (NYSE:BABA).
It was almost starting to make sense right before two curve balls were thrown.The first curve ball is, of course, a trade war that took dead aim at China's consumer-tech outfit Huawei, which by itself accounts for — or accounted for — 13% of Micron's revenue. Largely lost in the discussion is the fact that MU stock is now trading at what can only be described as a stupidly low trailing P/E of 3.1. According to Bank of America Merrill Lynch that valuation says the worst-case scenario is more than priced in. TheStreet's Tiernan Ray agrees, adding a psychological element to the matter:”With no remedy to DRAM's woes this year, it certainly seems the bears have been given just about everything they could hope for in terms of bad news.