Mark Mobius, the 81-year-old investment guru, believes the U.S. stock market is set for a 30% correction that would essentially wipe out the gains of the last two years. The renowned fund manager, who left Franklin Templeton, the American investment house, after more than 30 years in January, said “all the indicators” point to a large fall in the S&P 500 SPX, -0.85% and the Dow Jones Industrial Average DJIA, -0.82% . “I can see a 30% drop,” said Mobius, who launched one of the world’s first emerging market funds. “When consumer confidence is at an all time high, as it is in the U.S., that is not a good sign. “The market looks to me to be waiting for a trigger that will cause it to tumble. You
A strong start to earnings season helped the S&P 500 Index inch higher over the last week. Several major businesses added to the positive sentiment with announcements of higher dividends. 6 notable dividend stocks increased their payouts over the last
Netflix, Inc. (NASDAQ:NFLX) has been on a mission, both in reality and in the stock market. As you can see, Netflix stock has been a beast. Over its previous highs and above $330, Netflix stock is basing nicely.
WASHINGTON/JEDDAH, Saudi Arabia (Reuters) - U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters. "Looks like OPEC is at it again. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.
As earnings season is starting to pick up pace, here’s a look at some the top stock trades in the stock market. With shares of Apple Inc. (NASDAQ:AAPL) down more than 4% Friday, it’s no wonder tech is having a tough day. Many investors are trying to figure out what to make of Apple’s 7% slide over the past three trading sessions.
Female pilots are rare, especially in the U.S. When a Southwest Airlines LUV, -0.05% plane’s engine exploded mid-flight this week, pilot Tammie Jo Shults, 56, made an emergency landing. She is a former Navy pilot and one of the first women to fly an F/A-18 fighter jet. Shults is an anomaly among airline pilots — and not just because she was able to stay calm in such extreme circumstances As a female pilot, Shults is part of a small group. Just 6.3% of commercial pilots and 6% of non-commercial pilots in the United States are women, according to the Institute for Women of Aviation Worldwide, a nonprofit based in Vancouver. That’s 6,081 commercial female pilots and 10,247 non-commercial female
Ford Motor Company said on Saturday it will take bids on some of its advertising managed by WPP , adding to uncertainty around the British ad giant after last week's exit of founder Martin Sorrell. While Ford's decision does not affect all of its accounts with WPP - and the agency will be able to bid for the rest of the business along with everyone else - it comes at a difficult juncture for the world's biggest advertising firm. Saturday's announcement is part of a review of Ford's strategy that has lasted since November, when it told long-time partner WPP that it was considering its future ad model.
The U.S. Commerce Department has granted ZTE Corp's request to submit more evidence after the agency banned American companies from selling to the Chinese technology firm, a senior Commerce official said on Saturday. The U.S. Commerce Department's Bureau of Industry and Security, or BIS, this week banned American companies from selling to ZTE for seven years, saying the Chinese company had broken a settlement agreement with repeated false statements. The action was sparked by ZTE's violation of an agreement that was reached after it was caught illegally shipping U.S. goods to Iran.
Lt. Gen. Thomas McInerney (Ret.) on how multiple technology companies have joined thousands of Google employees in protesting the company’s involvement in a drone program.
The Justice Department has opened an antitrust investigation into whether AT&T, Verizon and a standards-setting group worked together to stop consumers from easily switching wireless carriers. The U.S. government is looking into whether AT&T, Verizon and telecommunications standards organization GSMA worked together to suppress a technology that lets people remotely switch wireless companies without having to insert a new SIM card into their phones.
Big U.S. banks are racing to launch websites and mobile apps to make getting a mortgage faster and easier, investments that may have modest near-term payoffs as home lending activity slows. Bank of America Corp has spent $1 billion on its digital banking services in the last six years and launched its lineup of techy mortgage products last week. Bank of America's app automatically fills in a customer's address, employment history and other information that the bank already has, cutting out hundreds of boxes customers would otherwise have to fill.
For years I’ve lectured about the wonderfulness of Roth IRAs. While the new Tax Cuts and Jobs Act (TCJA) includes one negative change for Roth IRAs, they are still pretty wonderful. Here’s what you need to know about Roth IRAs and especially Roth IRA conversions in the post-TCJA world. Roth IRAs have two big tax advantages The two most-important Roth IRA tax advantages are: Tax-Free withdrawals Unlike traditional IRA withdrawals, qualified Roth IRA withdrawals are federal-income-tax-free and usually state-income-tax-free too. What is a qualified withdrawal? It’s one that is taken after you, as the Roth account owner, have met both of the following requirements: 1. You’ve had at least one Roth
U.S. tech companies might be relying more on H-1B workers, according to a new study. This as the study finds Indian outsourcing firms may be losing their stronghold on H-1B skilled worker visas.
Edwards Lifesciences Corp.: "Oh, that is a great company and they have the best device. You don't have to crack open the chest cavity of a person in order to be able to do the heart work. That stock is a buy." Align Technology: "The stock is breaking down here. I see it, you see it. So let's wait a couple of days and then we pull the trigger. The business is fine." Regions Financial Corp.: "I think Regions is real good. We just talked to First Horizon. I think they're very good, too. I do like the banks here." Applied Materials: "I like Applied Materials so much, but you know what, every morning I wake up and take a look at it and see what's going on in China. Three o'clock, I get up, I don't
Earlier this year, Tesla Inc. (TSLA) shareholders approved a new 10-year compensation plan for CEO Elon Musk that would pay him handsomely. Several billion dollars worth of handsome. However, in order for the maximum compensation to be paid out, Tesla and Musk have to hit a number of lofty milestones. One requirement? That Musk is still there. However, he doesn't need to be serving as CEO in order to still make his money. That's brought on speculation about how much longer Musk may serve as CEO of Tesla. In 2014, Musk said he would continue to serve as CEO for the next four to five years and after that "it's TBD." That would put him in 2018 or 2019. Before that, he wanted to at least introduce
The Dow Jones 30 went sideways initially during the day on Friday, but then fell over as the Americans took over with the underlying index opening. The 25,000 level above is massive resistance, but if we can break above there I think that the market is free to go much higher. The NASDAQ 100 went sideways initially during the day, but then broke down through the 6700 level.
On one hand its part of the EMC federation companies that Dell acquired in 2016 for a cool $67 billion, but it's also an independently operated entity within that broader Dell family of companies -- and that has to be a fine line to walk. Whatever the challenges, the company went public yesterday and joined VMware as a separately traded company within Dell. CEO Rob Mee says the company took the step of IPOing because it wanted additional capital.
Dozens of companies have given employees one-time bonuses on account of the tax cuts President Trump signed into law last year. In fact, ADP’s CEO recently told employees that investors, not workers, will see most of the benefits of tax cuts. At an internal town hall meeting on March 15, ADP CEO Carlos Rodriguez fielded an employee question on what the company planned to do with the savings from corporate tax cuts.
Technology stocks have driven gains on Wall Street the past few years, but volatility in the first quarter could be a sign of serious doubts forming about the future of some of tech’s biggest names. As those companies report first-quarter earnings in a flood of results during the next two weeks, it will be a major test of whether these companies will continue to post huge growth, and fuel further overall gains, or settle into a more mild adulthood. The tech sector in general has been attractive because it offers some high-growth stocks that come with risk, as well as legacy blue chippers that provide stability but little upside. Investors have already seen examples of the typical earnings response to these types of companies early in this earnings season: Netflix Inc. NFLX, -1.48% , the first big tech company to report, delivered a stunning quarter, revenue jumping 40.4%, and streaming only revenue jumping even more, up 43%, with a huge jump in subscriber growth, including its international customers.
Two photo-sharing services are teaming up, as SmugMug buys Flickr from Verizon's digital media subsidiary Oath. USA Today broke the news and interviewed SmugMug CEO Don MacAskill, who said he hopes to revitalize Flickr . At the same time, he said he's still figuring out his actual plans: "It sounds silly for the CEO to not to totally know what he’s going to do, but we haven’t built SmugMug on a master plan either.
Friday, April 20, 2018The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Goldman Sachs (GS), Abbott Labs (ABT) and Altria (MO). These research
It was chipmakers’ turn behind the tech woodshed this week, as investors punished shares of the leading producers of computer hardware. Semiconductor stocks sank a third day Friday, with losses spilling over to Apple Inc. as concerns mounted that smartphone demand would derail earnings growth at the same time China and the U.S. skirmish on the trade front. Meanwhile, the Fang cohort of megacaps, outside of Apple, pushed higher after weeks of struggles.
Shares of Tesla (TSLA) are down again Friday, as investors debate whether the stock's next move will be to $200 or $400, depending on Model 3 demand and production. Bernstein's A.M. (Toni) Sacconaghi, Jr. takes a look at the stock on Friday, parsing a host of issues that investors have posed in recent weeks, from its debt (perhaps an issue if the stock continues to decline) to expansion in China (potentially a long-term positive development, as the country is opening up more to foreign auto makers). Among these points, Sacconaghi also throws cold water on the hope that Tesla could be acquired by another car maker. Even with the stock's recent decline, its market cap and valuation make Tesla quite
The AT&T Inc. (NYSE:T) 5G revolution is here as the company is rolling out the advanced connection for mobile devices this year. AT&T will eventually roll out real mobile 5G in 12 cities by the end of 2018. The company added that it will also be launching LTE-LAA, which is a faster type of LTE connection that consists of an unlicensed spectrum–this one will be available in parts of Boston, Sacramento and McAllen Texas.
The market may have faced a brutal decline on Friday led by the stock of Apple, but CNBC's Jim Cramer knows investors could handle a dip in the stock of the world's largest company. "And we can handle the yield on the 10-year Treasury surging ever closer towards 3 percent. But we can't handle both in the same day," the "Mad Money" host said. "Hence today's shellacking." Cramer blamed the algorithmic processes that direct machines to sell stocks and buy bonds when Treasury yields approach 3 percent, noting the influx of good earnings reports that happened ahead of the weekend. With that negativity in mind, Cramer turned to the stocks and events he'll watch in earnings season's fullest week yet,