Steve Wynn plans to sell some or all of his entire $2.2 billion stake in the casino company he founded, a week after settling an acrimonious court fight with his ex-wife that freed each to do as they wish with their share of the family fortune. The potential sale and the unwinding of the shareholder agreement that prevented Elaine Wynn from lowering her 9.3 percent stake potentially make Las Vegas-based Wynn Resorts vulnerable to a takeover. Casino regulators in Nevada, Macau and Massachusetts are still investigating the company’s handling of harassment claims against Steve Wynn that were first raised in the couple’s bitter six-year court battle -- probes that could result in him being found unfit to be the largest shareholder in a casino company.
Shares of Micron MU closed slight lower on Wednesday, just one day before the company is scheduled to release its latest quarterly financial results. This red-hot stock has attracted plenty of attention lately, so we should expect its earnings announcement to make waves throughout Wall Street as investors continue to grapple with fresh market-wide volatility and international trade questions. Micron is one of the world’s leading semiconductor memory solutions companies.
Former Uber CEO Travis Kalanick is becoming the CEO of City Storage Systems. The company takes disused spaces like car parks and abandoned shopping malls and helps businesses make use of them. The company has projects to create kitchens for food delivery and also warehouse space for online retail companies.
Beware of the snow. Tesla in a Bear Market Is a Nice Headline, but Remember Why OMG TESLA'S STOCK IS IN A BEAR MARKET AND IT'S OUT OF CONTROL - THIS IS A PIVOTAL MOMENT FOR THE ELECTRIC CAR MAKER OMG. To anyone who has used this headline in the past 24 hours - please, please, please relax. Everything is going to be OK in the world. Facebook's (FB) Mark Zuckerberg will get his. Daniel Bryan will have a great comeback in the WWE (WWE) ring. And if you are in the Northeast, you will survive the five inches (or lots more)of snow on the car that's coming Wednesday. In case you didn't see the breaking news, Tesla's (TSLA) stock has fallen 10% from its highs, putting it narrowly in a bear market weeks
General Electric Co. (GE) has been a dumpster fire. The stock is down roughly 55% over the past 12 months, and is hitting fresh 52-week lows on Tuesday. Shares couldn't gain any traction, closing just two pennies off session lows at $13.64, down 3.06% for the session. Earnings, cash flow and a massively underfunded pension fund have many investors worried about the long-time industrial stalwart. While GE was once a dividend-paying industrial titan, it's clearly lost its way. Even after halving its dividend in November, some investors still worry that another cut could come down the road. GE seemed like a safe, low valuation dividend-paying company. Obviously new revelations prove anything
The past couple of years has been a rough ride for GoPro, Inc. GPRO and its troubles are far from ending. The leading manufacturer of the world's most handy camera and related accessories has seen its shares fall almost 34% year to date, underperforming the industry’s growth of around 6% by a huge margin. The company has been grappling with sluggish demand for its Hero cameras amid stiff competition from lower-priced action camera alternatives.
Further, entry of cable MSOs (multi service operators) like Comcast and Charter Communications has made it all the more difficult. Despite cut-throat pricing competition in the industry resulting in unlimited data plans with several sweeteners, postpaid customer gain is a major positive. Given this backdrop, it is not a bad idea to undertake a comparative analysis of two major players in the telecommunication industry — Verizon Communications Inc. VZ and AT&T Inc. T based on certain parameters.
With markets turning more volatile and tech growth stories turning sour, beaten down biotech stocks are getting another look. That's why, for the "Off the Charts" segment of Tuesday's Mad Money episode, Jim Cramer checked in with colleague Carolyn Boroden, who runs the FibonnacciQueen.com website and also contributes to RealMoney.com. While it may still be early too jump on stocks in the sector, Boroden told Cramer that there are several names worth watching for buying opportunities once some key technical changes appear in their charts. Cramer and Boroden started by looking at a daily chart of the iShares NASDAQ Biotechnology ETF (IBB) . Boroden pointed out that IBB found support during February's
The “Fast Money” traders discuss Fed Chair Jerome Powell's FOMC meeting and its potential market impact.
Citigroup Inc. said Chief Executive Officer Michael Corbat was unaware that the bank was in the process of closing a real estate loan to a Kushner Cos. venture when he met with Jared Kushner. Corbat requested the March 2017 meeting with Kushner, a senior adviser to President Donald Trump, to discuss U.S. trade policy and didn’t discuss the loan or any personal business with Kushner Cos., the bank’s general counsel said in a letter to four Democratic senators. New York-based Citigroup said the Kushner family has been a client for decades and the loan on a Brooklyn real estate project was made with no input from Corbat.
Working remotely is an increasingly popular option for many people, given how expensive it can be to live where many of the jobs are. But can you earn enough to get by while working from home? To help you find out, career-advice website FlexJobs, using data from salary and compensation site PayScale, compiled a list of the 14 most common remote jobs in their database and their average pay. Some of the salaries exceed the national median household income, which was $59,039 in 2016. The No. 1 most common remote job, in fact, pays almost $90,000 a year on average. While some of the job titles on the list, like "nurse" or "teacher," may sound more like conventional in-person positions, FlexJob is
In the latest complication for Qualcomm Inc., China’s regulators are seeking more protections for local companies before approving the U.S. chipmaker’s proposed purchase of NXP Semiconductors NV, according to people familiar with the matter. That could jeopardize Qualcomm’s bid to survive as an independent company. The concerns raised by Beijing have surfaced about a week after President Donald Trump said he was blocking Broadcom Ltd.’s proposed acquisition of Qualcomm to prevent China from stealing a technological march on the U.S. China’s Ministry of Commerce isn’t satisfied with the remedies that Qualcomm has offered so far and has told the company to propose more, said the people, who asked
On Mar 19, one of the equity markets’ most closely watched indexes, the Dow, plunged. Tech stock plunge had a cascading effect on overall market as most of the important indexes like S&P 500 and Nasdaq Composite index were also impacted. Meanwhile, yesterday’s decline has pushed the Dow into the negative zone year to date.
Memory semiconductor makers Western Digital Corp (NASDAQ:WDC) and Micron Technology Inc. (NASDAQ:MU) have both been on my watchlist this year, as the industry looks ripe to continue delivering gains for the foreseeable future. Worries about a slowdown in the memory space have weighed on both WDC stock and MU stock. There is some justification for Western Digital Corp stock’s higher price tag — the company is far more established than Micron and, therefore, WDC stock offers investors much more stability.
Southwest Airlines shares tumbled after the company lowered its first-quarter estimates.
If you own FDX stock, you’re probably hoping FedEx Corporation (NYSE:FDX) CEO and founder Fred Smith and the rest of his management team isn’t too worried. However, it would be corporate malpractice in my opinion, if FedEx wasn’t considering the ramifications
Forecasting the long-run return on equities is one of the key challenges in financial planning. Jeremy Siegel, the author of “Stocks for the Long Run,” wrote that he had examined 210 years of stock returns and found that "the real return on a broadly diversified portfolio of stocks has averaged 6.6 percent per year.” Public pension funds make similar assumptions. 1 Forecasts of real long-term gross domestic product growth come in around 1.5 percent to 2.5 percent a year. If the stock market outperforms GDP by 5 percent per year, total stock market capitalization will double as a fraction of the economy every 14 years. Is that sustainable for any extended period of time? 2 The graph below shows
LAS VEGAS/HONG KONG (Reuters) - Best Buy Co Inc, the largest U.S. consumer electronics retailer, will cut ties with China's Huawei Technologies Co Ltd, a person familiar with the matter said, amid heightened scrutiny on Chinese tech firms in the United States. Best Buy will stop selling Huawei's devices over the next few weeks, according to the person with knowledge of the matter, a setback for the Chinese telecommunications giant as it looks to expand in the U.S. market.
Wells Fargo & Co.: "I think it does nothing. There's so many great banks. Why would you even think about that one?" Cara Therapeutics: "You know, I believed in it. Obviously the shorts are all over the thing. They don't think it's real. Let's have them back on." Take-Two Interactive Software: "OK, [CEO] Strauss Zelnick's put together an amazing company. All those stocks have been under pressure repeatedly from a lot of different ways. I stand by my recommendation, Take-Two." Cronos Group Inc.: "I like Constellation [Brands] because you've got some marijuana [company exposure] in there because they bought a stake in one. Let's stick with Constellation. They do report next week. I saw an upgrade
U.S. solar stocks enjoyed their best day in almost a month, with the rooftop installer Vivint Solar Inc. climbing the most since June. Optimism that some U.S. companies will win exemptions from import tariffs. SunPower Corp. was among the companies seeking to be excluded from the trade duties, and Garvin Jabusch, chief investment officer at Green Alpha Advisors, said by email Tuesday that SunPower’s case is “particularly strong.” The deadline to file was March 16. The possibility of lower tariffs would mean lower panel prices, Jabusch said.
Only a couple of days ago, the general perception on driverless cars was that these are incredibly safe and hence boring. A self-driving test vehicle from the leading ridesharing company Uber Technologies Inc. struck and killed a 49-year-old woman in Tempe, AZ. Uber has said that it will fully co-operate in the investigation and suspended tests of all its self-driving vehicles on public roads in San Francisco, Pittsburgh, Toronto and the greater Phoenix area.
The market is in wait-and-see mode in front of the FOMC interest rate decision this afternoon. Certainly, I don't expect it to go straight back up but it was probably unfairly tarnished by the Facebook drama.
The Toys R Us going out of business sale is happening starting tomorrow. On Thursday, March 22, the toys retailer will experience the beginning of the end as the company will have one last hurrah in a liquidation sale that will see all its toys sell to children who want to explore the toy store one last time. Tomorrow’s liquidation sales will run until all Toys R Us locations run out of inventory and everything will sell with massive price cuts.
Action Alerts Plus holding Activision Blizzard Inc. (ATVI) has a lot to look forward to as far as revenue growth is concerned, according to analysts at Jefferies. "The primary reason to own the stock is because new digital revenue streams (microtransactions, full-game downloads) are transforming the company into a more recurring profitable model," Jefferies analysts wrote in a March 21 note. The company generated $4 billion in microtransaction revenue in 2017 and has suggested that number could grow by double digits this year. As Jefferies pointed out, that could mean upwards of $400 million in incremental microtransaction revenue. Analyst Timothy O'Shea said that segment represents the highest-margin
Micron Technology Inc. investors should expect to be surprised when the company reports earnings, as the options market is preparing for a bigger-than-average post-results reaction in the stock. The memory-chip maker MU, -0.25% is scheduled to report fiscal second-quarter results after Thursday’s closing bell. Investor and analyst expectations appear to be running relatively high, as six analysts surveyed by FactSet have raised their stock-price targets in the past week while only one has trimmed their target. And the stock, which is already the PHLX Semiconductor Index’s SOX, +0.73% best performing component this year, as well as over the past 12 months, has gained 2% the past week while the