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
Add in the $4 billion in dividend cuts and these start becoming real numbers. GE does need these cuts, though, if it hopes to maintain the reduced dividend, as 85% of its free-cash-flow is still paid out to shareholders. Speaking of dividends, GE is set to pay out $0.12 this month, so this one sets up well for a buy-write (covered call) trade into the New Year.
"It seems to us that the consensus is that the tax reform will not matter much, which is consistent with what our survey data and the feedback during our recent client meetings suggest," said Athanasios Vamvakidis, the global head of G10 FX Strategy at Bank America Merrill Lynch, in a note on Friday. "In contrast, we have been arguing that the US tax reform is a big deal and will support the USD in early 2018." That the dollar has not gained since the Senate passed its version of the Tax Cuts and Jobs Act last weekend shows "the market seems to be pricing almost nothing," he added.
Delta Air Lines raised $450 million on the debt market this week, but the airline is saying little about how it plans to spend it. Atlanta-based Delta is weighing the purchase of 75 to 100 single-aisle jets from either Boeing or Airbus, and the airline announced a preliminary agreement with Canada's WestJet that might lead to a capital commitment. Delta didn't offer details on its plans for spending the $450 million other than "general corporate purposes," according to a U.S. Securities and Exchange Commission filing, and spokeswoman Liz Savadelis declined to comment. Delta CEO Ed Bastian told the Business Journal he hoped to settle the jet question before the end of the year. A decision could
Pharmaceutical companies on Friday sued to block a new California law that would require them to give advance notice before big price increases. The law was approved this year in response to consumer outrage over a rise in drug spending and high costs for some prescription treatments, including new Hepatitis C medications and EpiPens to control allergic reactions. The Pharmaceutical Research and Manufacturers of America, a trade group for drugmakers, said in its lawsuit that California's law illegally tries to dictate national health policy.
The bitcoin (Exchange: BTC=) craze could pose a real risk to the broader market next year, Deutsche Bank warned last week, ahead of the cryptocurrency's launch on futures exchanges, scheduled to take place Sunday. Bitcoin has emerged as a financial phenomenon this year as the digital currency sees $1,000-plus swings within hours. At this juncture, as the cryptocurrency has advanced quadruple digits this year, Slok said the markets have not correctly priced in the broader impact bitcoin could potentially have.
Wall Street research is a confusing animal. The same stock often carries very different opinions, from various sources at exactly the same moment. That is why there are always buyers and sellers at the very same price, creating a "market price." How
The newest way to bet on bitcoin will arrive on Sunday, when futures of the cryptocurrency that has taken Wall Street by a storm begin trading. The first bitcoin future trades are set to kick off at 6 p.m. EST (2300 GMT) on CBOE Global Markets Inc's (CBOE.O) CBOE Futures Exchange. This has given an extra kick to the cryptocurrency's scorching run this year.
Bitcoin trading is completely out of control these days, hitting $16,000 after starting the year below $1,000, so you know that Uncle Sam is salivating at his cut of those gains. Because yes, your gains on that digital currency are taxable. Surprisingly, the IRS has been ready for this craze and created tax policy around the cryptocurrency back in 2014. So don't blow it off. Because just last week, the IRS won a lawsuit against Coinbase, one of the largest Bitcoin wallet and exchanges, requiring it to hand over records relating to users who conducted Bitcoin trades worth more than $20,000 dating from 2013 to 2015. It's hunting for tax receipts. Now remember, in the government's eyes, bitcoin
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.
The prospect of tax reform has had drugmakers and Wall Street salivating for months. Repatriation of cash held outside the U.S. could be the most important part of the Republican tax bill for the sector, according to a recent Credit Suisse report, which found that American biopharma companies make up one-third of the top 30 U.S. companies with the most offshore cash. The final version of the tax bill, which could be passed by the end of the year, is expected to reduce the tax rate for repatriated offshore cash from 35% to 10% or 14% — a major tax break that could make a slew of dealmaking and share buybacks possible. The biggest potential winners are drugmakers Amgen Inc. AMGN, +0.83% ($39 billion
With the stock market near record highs, strategists agree it's time to consider alternative investing strategies. Walter Davis, an alternatives investment strategist at Invesco pints to a long/short strategy, a common type of alternative strategy. Meanwhile, Doug Evans, head of asset management at Abbot Downing, sees more opportunities overseas than in the U.S. Watch More with TheStreet: Southwest Airlines CEO on Tax Reform, Hawaii Routes and Bitcoin Is Mining Bitcoin Worth Destroying Your Electric Bill? Former Humana Executive Supports the CVS-Aetna Deal Here Is One Major Factor to Watch in the Markets in 2018
The intersection of digital money and traditional finance is at 400 South LaSalle Street in Chicago this weekend. That’s where trading in bitcoin futures opens Sunday evening, as the first major U.S. exchange offers a product pegged to the wildly fluctuating cryptocurrency. The currency has risen more than 1,500 percent this year, and about 85 percent just in the past two weeks, driven largely by demand from individual investors. But even as bitcoin -- launched in 2009 as an alternative to banks -- divides Wall Street executives and central bankers worldwide, those kinds of gains are a powerful magnet. The futures offered by Cboe Global Markets Inc., and similar contracts that start trading in
UnitedHealth Group Inc.’s nearly $5 billion acquisition of physician group operator DaVita Medical Group, announced Wednesday, pales in comparison with CVS Health Corp.’s roughly $69 billion acquisition of health insurer Aetna Inc. earlier this week. But while CVS Health CVS, +2.81% is aiming to emulate UnitedHealth UNH, +1.71% by folding in health insurance with its pharmacy-benefit manager business, UnitedHealth’s acquisition shows it is one step ahead, according to Mizuho analyst Sheryl Skolnick. “So while others may look to build what UNH/Optum had, Optum moves the bar yet again, establishing itself as the leading physician platform for the transformed health care sector of the future,”
1) Tax-loss harvesting For most investors, 2017 was a great year — which can come with hefty tax consequences. That makes this a good time to consider selling any losing investments to generate a tax deduction and cushion the blow. You can use those losses to zero out capital gains, and then deduct up to $3,000 a year against ordinary income. Losses in excess of that can be carried forward to future tax years until the balance is used up. For just that reason, tax-loss harvesting is a popular tool for maximizing after-tax returns, most commonly in the fourth quarter of the year, when investors aim to lower their tax liability. (But this trick only works on taxable accounts, not your 401(k) or
Uber Technologies Inc and a woman who accused top executives of improperly obtaining her medical records after a company driver raped her in India have agreed to settle a civil lawsuit the woman filed against Uber in June, according to a U.S. federal court filing on Friday. The Uber driver was convicted of the rape, which occurred in Delhi in 2014, in a criminal case in India.
Broadcom Ltd. shares finished Thursday exactly where they closed on Wednesday, after an initial jump — prompted by a majority of analysts hiking price targets — fizzled out a day after the chipmaker’s strong earnings and outlook softened concerns that iPhone production snags would hamper sales growth of wireless components. Late Wednesday, Broadcom AVGO, -1.51% topped Wall Street estimates for the quarter and issued a revenue outlook well above the consensus. The company also said it was raising its “interim” quarterly dividend by 72% to $1.75 a share. Broadcom shares, which traded up as much as 4.5% earlier in the trading session, closed at $263.89 on Thursday, their same closing price on Wednesday
Amazon.com Inc. may already be the largest apparel retailer and could still grow to sales between $45 billion and $85 billion by fiscal 2020, according to Instinet analysts. Instinet analysts led by Simeon Siegel estimate overall apparel and accessories sales at above $1 trillion with “above average” online penetration and “leading gross margin” compared with other categories. “We believe Amazon AMZN, +0.19% has the largest [total available market] TAM (ever), doesn’t carry socio-economic retailing stigmas, can stock a limitless number of goods on its virtual shelf and knows customers better than they do,” Instinet wrote. “Amazon’s path to book dominance provides a potential road map for apparel
There may be a “golden” lining to the recent historic tumble in General Electric Co.’s stock, as it has approached an important long-term chart level at a time when the near-term technical outlook suggests the worst may be over. The stock GE, +0.00% hovered around six-year lows, as it suffered a ninth straight monthly loss in November. That’s the longest such streak in over 45 years, based on available data on FactSet and Yahoo Finance going back to 1972. The company did not provide additional data. The selloff accelerated over the last couple months, tumbling 17% in October, the biggest one-month selloff since the depths of the Great Recession, and 9.3% in November, as new Chief Executive John
Denis Doyle/Getty Images John Stolzfus of Oppenheimer has the most bullish S&P 500 forecast for 2018, with a year-end price target of 3,000. He sees many of the positive drivers from 2017 continuing, such as slow-and-steady economic expansion, strong
The cost of shorting bitcoin could skyrocket once futures trading starts on Sunday, says S3 Partners. The ultra-volatile cryptocurrency has seen massive fluctuations in recent days, and making bets on either side of it is about to get more expensive. If you think bitcoin has gotten out of hand, now is the time to make your wagers against the surging cryptocurrency.
Stocks swung in the past week as investors parsed the Republican tax overhaul plan searching for potential winners and losers. Technology shares initially tumbled as many analysts viewed the sector as less likely to benefit from a corporate tax cut.
Sometimes things really are as good as they seem, Jim Cramer told his Mad Money viewers Friday, as he analyzed today's jobs report. The number had something for everyone, Cramer explained, and was strong enough to warrant an interest rate hike but not too strong to need multiple rate hikes that would eventually hinder stocks. Cramer started his game plan for next week's trading on Monday, with the beginning of Bitcoin futures trading on the CBOE. Cramer said he's betting futures will add some stability to the Bitcoin market and put a lid on its skyrocketing growth. On Tuesday, Cramer will be watching the 3M (MMM) analyst meeting. He said 3M remains a compelling story, even with shares up 33%
Ready to play the expected boom in electric cars? Or maybe buy into Spanish banks? Or even bet on a couple of stock-market newcomers? According to a group of top fund managers, you’ll be well off by the end of next year if you dip into those plays. Speaking at the Sohn Conference in London last week, 16 investment professionals dished out their favorite stocks for next year, forecasting high double-digit returns. Here are five of the most interesting calls from the annual conference: Pirelli Pirelli & C. SpA PIRC, +0.49% ticks all the boxes for Adrian Croxson, partner at $32 billion American hedge-fund manager Oz Management, who expects the Italian premium tire maker to rally around 60% over