Here’s an updated scoop on the strategy, taking into account the possibility of tax reformReutersMitch McConnell leaves the Senate during debate over the tax reform plan on Dec. 1, 2017. For years, I’ve lectured chapter and verse about the wonderfulness of Roth IRAs, and they may soon be more wonderful than ever. The quickest way to get a relatively large sum into a Roth IRA so you can start taking advantage of the wonderfulness is to convert a traditional IRA with a hefty account balance into a Roth account.
Below and attached is a list of names for those charts we believe are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week. Bullish reversals imply institutional accumulation and the potential
There are, as I have noted in the past, reasons to believe that the long-term path of oil is still upward, but more immediately there is one dominant factor that keeps adding downward pressure, large and still growing supply from North American shale producers. The second chart, directly above, indicates why American producers are pumping at a growing rate. There are reasons for that recovery, most notably the production cuts agreed by OPEC countries and others including Russia and improving global growth, but those bullish factors are now fully priced in and the effect of that is to encourage U.S. E&P companies to, to borrow a phrase, drill, baby, drill!
They expect four of them to double in priceBloombergCoal is loaded on a vessel at a Consol Energy-owned terminal. Analysts expect Consol’s share price to rise 63% over the next 12 months.DMAMBMCMDMEMGPREVIEWZBZBRZDZDRZFZGZQZRZSZTZU(This is the third in
Oracle Corporation ORCL is set to report fiscal second-quarter 2018 results on Dec 14. Last quarter, the company reported non-GAAP earnings of 62 cents, which increased 12.3% on a year-over-year basis and also beat the Zacks Consensus Estimate of 61 cents. The current Zacks Consensus Estimate for the quarter under review is pegged at 68 cents compared with 61 cents in the year-ago period.
Incyte Corporation INCY announced a new 208-week (4-year) follow-up data from the phase III RESPONSE study of Jakafi. The study compared the efficacy and safety of Jakafi with best available therapy (BAT) in patients with polycythemia vera (PV), who are resistant to or intolerant of hydroxyurea (HU). The study met the primary endpoint showing that Jakafi was superior to BAT at controlling hematocrit (Hct) and reducing spleen volume at week 32.
Boeing delivered two widebody jets to Middle Eastern airlines and won a 747 order this week, generating some cash for the fourth quarter. Chicago-based Boeing (NYSE: BA) delivered a 787-9 Dreamliner to Oman Air and a 777 freighter to Turkish Airlines. Boeing capped off the week by snaring a new order for the $387 million double-decker 747 from an unidentified buyer, according to its orders and deliveries website. The new jumbo jet order means more work for the Everett 747 manufacturing line, which Boeing said last year it might shut down. Airlines pay most of a new jet's price when they receive the aircraft, but also pay deposits when ordering. "The delivery of our first 777 freighter is a milestone
Valeant Pharmaceuticals International, Inc. VRX was a big mover last session, as the company saw its shares rise nearly 12% on the day. The company has seen three positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Valeant. Valeant currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Oil prices rose Monday, reversing earlier declines, after a North Sea pipeline shut for repairs and investors focused on commodities following an explosion in New York. Brent crude futures were up $1.20, or nearly 2 percent, at $64.60 by 12:22 p.m. EST (1722 GMT). U.S. West Texas Intermediate (WTI) crude futures were at $57.87 a barrel, 51 cents or 0.9 percent above their last settlement.
Bitcoin 's meteoric price rise has stunned critics and enthusiasts alike, leaving investors scrambling to understand the fundamental reason for the digital currency's runaway rally. Valentin Marinov, head of G-10 FX research at Credit Agricole (Euronext Paris: ACA-FR) CIB, told CNBC on Monday that he was hopeful he now understood the reason behind bitcoin's soaring value. Bitcoin was up 9.25 percent higher midday Monday ET at $16,427.16, according to CoinDesk's bitcoin price index.
Natural gas production in the United States has skyrocketed over the past five years, making the carbon-light fossil fuel cheaper to access and plentiful for export, according to a new report by the Energy Information Administration. Production in the Appalachia region alone has seen a jump of 14 billion cubic feet per day since 2012, driving the bulk of output growth in recent years and giving the region a 2016 output of 22.1 billion cubic feet per day. The Appalachian basin alone produced more natural gas than any nation except for Russia.
HSBC drew a line under its punishment for lapses in anti-money laundering controls on Monday, saying the U.S. Department of Justice (DoJ) would end its deferred prosecution agreement, lifting the threat of further penalties. Europe's biggest bank paid a $1.9 billion fine and entered into the five-year deal in 2012 for failing to prevent Mexican drug cartels from laundering hundreds of millions of dollars. Under the deal, HSBC pledged to strengthen its sanctions and anti-money laundering controls.
Valentin Marinov, managing director and head of G-10 FX research at Credit Agricole, speaks about how central bank policy is impacting major currencies.
Trading of bitcoin futures on the Cboe has kicked-off, driving the price even higher. But, some investors are still wary of the cryptocurrency, either unsure of what it is or concerned about its volatility. Gemini co-founders Tyler Winklevoss and Cameron Winklevoss, who were early investors in bitcoin back in 2013 and are now considered the first “bitcoin billionaires,” see the cryptocurrency as the next gold.
The US has a number of federal tax brackets based on income ranges. In the midst of the political maneuvering, we've calculated how President Donald Trump's tax plan could affect you if tax reform is signed into law. By looking at what Trump's tax plan means for Americans' take-home pay at different income levels, our team at Business Insider got a number of emails that made us realize something important: Most people don't understand how tax brackets actually work.
Shares of semiconductor maker NXP Semiconductors (NXPI) are up $1.01, or 0.9%, at $116.30, after activist firm Elliott Management, which owns 6% of NXP, released a letter saying the existing offer to buy the company put forward by Qualcomm (QCOM) is too low. The firm said "NXP is worth $135 per share” versus the $110 that had been agreed to from Qualcomm when the deal was announced back in October of last year. According to Elliott, "Qualcomm’s offer of $110 per share is acting as a ceiling” on NXP shares, given other semi stocks have beaten NXP’s share price increase by 25% since the deal was announced. The letter this morning is included as part of a Web site Elliott set up that’s dedicated to the matter.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Bank of America BAC, Celgene CELG, Goldman Sachs GS, L Brands LB and Quest Diagnostics DGX.
Nokia (NOK) is losing its COO after just eight months on the job. The telecom company’s chief operating officer Monika Maurer will be replaced by a senior vice president effective immediately. Nokia has had a tough year as it loses market share to competitors.
The first-ever futures contracts for the virtual currency bitcoin started trading Sunday and the price surged. As of 9:15 a.m. CST Monday, bitcoin futures that expire in January were trading at $17,800, up $2,340, according to data from CBOE Global Markets. The futures allow investors to bet on the direction of bitcoin, but do not involve actual bitcoin.
China’s sweeping deleveraging push is poised to inflict more pain next year. Authorities tightening funding in financial markets and reining in excessive borrowing will likely deal a blow to investment in infrastructure and property, while soaring corporate funding costs may damp business expansion. That could add to headwinds facing an economy expected to grow at the slowest pace in more than a quarter century next year, complicating the balancing act for policy makers who want to defuse the country’s debt bomb without derailing the expansion. Six charts show how the purge will pressure the economy: When the central bank turns down the credit tap, governments and companies are less keen to build
Last year’s list is a mixed bag, which is why you ought to invest for the long runBloombergAnalysts expect shares of CBS to rise 26% over the next 12 months.DMAMBMCMDMEMGPREVIEWZGZQZRZSZTZU(This is the first in a three-part series on analysts’ favorite
The tech giants — Facebook (FB), Alphabet (GOOGL), Amazon (AMZN), Netflix (NFLX), and Apple (AAPL) — may see smaller gains in 2018 than they did this year, write analysts Brian Nowak and Katy Huberty in a note to clients this morning, given that the returns of bull-market stocks tend to fade after about a year. As they put it, "large cap leaders in bull markets do not typically sustain outperformance from one year to the next." Write the authors, "While we believe that fundamental drivers for these stocks remain intact, history indicates returns may moderate their pace and we question whether growth over value can continue to be as meaningful a driver of returns." The stocks have added to their
NEW YORK/LONDON (Reuters) - Newly launched bitcoin futures on Monday suggested that traders expect the cryptocurrency's blistering price gains to slow in the coming months. Chicago-based derivatives exchange Cboe Global Markets launched the futures late on Sunday, marking the first time investors could get exposure to the bitcoin market via a large, regulated exchange. By midday on Monday in New York, it was trading at $17,780, roughly 10 percent above bitcoin's spot price of $16,335 on the Bitstamp exchange .
Paychex Inc. PAYX seems to be well set on the growth trajectory. This provider of payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the United States carries a Zacks Rank #2 (Buy