Sears Holdings Corp (NASDAQ:SHLD) announced that the company is shuttering the doors of at least 40 more stores in the coming months. The retail chain announced that it will be closing 40 Sears and Kmart stores in July and August, according to a Business Insider report from May 19. The company has yet to comment on the matter, which includes 31 Sears locations and nine Kmart stores that will be closing in 24 states.
As the Treasury selloff kicks off in earnest, Citigroup Inc. says investors should prepare for a possible “normalization’’ of risk premiums across credit and emerging markets as the era of monetary distortion unravels. A bearish breakout in the world’s largest bond market remains an underestimated risk, strategists Mark Schofield and Ben Nabarro wrote in a Monday note. Investor sentiment remains sanguine, according to the strategists, with bulls arguing Treasury headwinds have been exacerbated by transitory forces like oil and stretched positioning.
The U.S. Supreme Court delivered a blow to the rights of workers on Monday by allowing companies to require them to sign away their ability to bring class-action claims against management, agreements already in place for about 25 million employees. The justices, in a 5-4 ruling with the court's conservatives in the majority, endorsed the legality of the growing practice by companies to compel workers to sign arbitration agreements waiving their right to bring class-action claims on various disputes, primarily over wages and hours. The ruling could apply more broadly to discrimination claims like those raised by women as part of the #MeToo movement raising awareness of sexual harassment in the workplace but the court did not explicitly address that issue.
Bitcoin, the world’s biggest digital currency, drifted back under $8,500 on Monday as weekend gains slowly faded. The broader digital-currency market fared even worse, with most virtual assets kicking off the week in decline. After reaching a weekend high of $8,575.99, bitcoin has retreated and a single bitcoin(BTCUSD)(COINDESK:BTC-USD) was last worth $8,398.98, down 1.8% since Sunday’s levels at 5 p.m. Eastern Time on the Kraken exchange.
You need to rifle through 18 years of history to find selloffs that compare to the one corporate bond investors are now enduring. Debt of American companies just posted their third-worst 100-day returns since 2000, according to a JPMorgan Chase & Co. index, as tighter monetary conditions leave their mark on high-quality bonds with longer maturities. With negative returns likely to scare off retail investors, the outlook for the asset class looks grim, JPMorgan strategists said in a Friday note.
General Electric will tie its train engine division to the railroad equipment maker Wabtec in deal worth about $11 billion as GE CEO John Flannery continues to break off parts of the conglomerate. Wabtec CEO Raymond Betler will lead the combined company and its chairman, Albert Neupaver, will be executive chairman. Under the deal announced Monday and approved by the boards of both companies, General Electric Co. will get $2.9 billion in cash.
Per Bloomberg, BP plc BP and ConocoPhillips COP are in talks over an asset swap deal. Per the agreement, BP will raise stake in the North Sea Clair field, offshore U.K., in exchange of its assets in Alaska.BP is contemplating to acquire ConocoPhillips
On and off the price chart, Alibaba Group Holding Ltd (NYSE:BABA) is building the case for investors. Alibaba, or what many rightly call Asia’s Amazon.com, Inc. (NASDAQ:AMZN) recently reaffirmed its position as the continent’s 800 lb. gorilla after delivering a stellar Q4 confessional. Bottom line, BABA’s solid earnings beat, raised guidance and enviable growth prospects in key markets as InvestorPlace’s Luke Lango recently laid out are simply hard to ignore — or worse yet, bet against.
Only a few years ago, marijuana was seen as a ‘’gateway drug’’. Flash forward to today: cannabis is a huge business, one that could be worth $25 billion in the U.S. alone by 2020, and analysts expect demand to skyrocket as new laws are passed and social attitudes change. In the United States, the legal cannabis industry is worth $6.7 billion, according to Bloomberg.
Workplace retirement plans get a lot of bad press, primarily if they are loaded with high fees. Put simply, 401(k)s work. The bad news is that otherwise-diligent savers can still leave money on the table with a 401(k), often without realizing it.
General Electric had a market capitalization of $135 billion (as of May 21, 2018), and is one of America’s most familiar brands. It's the first big move from new CEO John Flannery, who took over in September of this year. On May 21, 2018 Wabtech Corporation ( WAB) and GE Transportation announced a merger in a $11.1 billion deal.
Discount rivals EasyJet Plc and Ryanair Holdings Plc are shoring up their shareholder base in continental Europe in order to safeguard their right to fly there after Brexit. EasyJet, based in Luton, England, is holding investor roadshows in France and Germany this week and last week in a bid to increase the proportion of stock held within the European Union once Britain leaves. Ryanair, Europe’s biggest discount airline, said Monday that it will remove the voting rights of non-EU holders in the event of a so-called hard Brexit.
Way back in 2012, Google agreed to pay $22.5 million to settle FTC charges over the company's use of tracking cookies in the Safari browser. Now the company is being sued in the UK for the same issue, according to a report in The Guardian. Dubbed the Safari Workaround by the PhD researcher that discovered the loophole in 2012, it apparently allowed Google to collect personal information on users such as race, physical and mental health, political ideology, social class, location, shopping habits and financial data.This data was then aggregated, according to the prosecution, into different groups to provide "better" targeted advertising.
Micron Technology Inc. shares rose Monday after the Boise, Idaho-based memory chip maker raised its guidance for the fiscal third quarter. Average daily volume for the stock over the past 52 weeks is 39.7 million shares. In comparison, the PHLX Semiconductor Index was up 0.4% and the S&P 500 index was up 0.5%.
It had to do with just how far its founder Elizabeth Holmes got based on technology that wasn't ready. Theranos, which promised blood tests that used a fraction of the blood traditional tests used, was no exception.
In the late 1990s, New York City partied to the tune of the internet. Cryptocurrency prices are not responding to the hype. While cryptocurrency advocates toss each other charges of complicity in scams, action has shifted decisively from tokens like bitcoin and ethereum to applications using blockchain technology.
Ryanair Chief Executive Michael O'Leary speaks about how the price of oil is impacting his business.
By Caroline Valetkevitch (Reuters) - U.S. stocks rallied on Monday after the United States and China put their trade differences "on hold" to work on a wider agreement, while sentiment was also boosted by the nearly $28 billion worth of
The agreement will have Qualcomm adding Facebook’s Terragraph technology to its chipsets. The goal of Facebook and Qualcomm’s new internet effort is to create high-speed wireless internet for users. “Our collaboration with Facebook will bring advanced 11ad and pre-11ay technologies to market increasing broadband penetration and enabling operators to reduce their capex for last mile access,” Irvind Ghai, Vice President of Product Management at Qualcomm Atheros, said in a statement.
Out of stock ideas? Might want to play the top trades of the hedgies. While the average equity hedge fund has returned a decent 2% year to date says Goldman Sachs (S&P 500 Index flat), their top positions are out-performing. Funds have made few changes
HONG KONG—Global investors looking to buy stakes in China’s most valuable private technology company are being forced to pick a side in the nation’s biggest business rivalry. Ant Financial Services Group, a financial-technology juggernaut controlled by billionaire Jack Ma, is preparing to close a $10 billion private fundraising round that would value the Hangzhou-based company at $150 billion, according to people familiar with the matter. As part of the deal, investors putting money into Ant have to agree not to invest in or raise their stakes in companies controlled by major rivals such as social-media giant Tencent Holdings Ltd. and online retailer JD.com Inc., the people said.
Investors focused on the Computer and Technology space have likely heard of Cisco Systems (CSCO), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question. Cisco Systems is one of 632 companies in the Computer and Technology group.
Oil production is surging in Canada but producers are far from happy as their profit margin is sinking and they are striving to stay competitive with their U.S. counterparts. While upstream companies like Marathon Oil Corporation MRO, Hess Corporation HES and others are enjoying the shale boom and rebound in prices in the United States, their Canadian counterparts like Cenovus Energy Inc. CVE and others are thinking of reducing production. The primary reason behind this is the shortage of pipelines in the country.
Stocks do get exhausted, but that’s a poor thesis to bet on a stock’s demise — particularly when it comes to a name like Salesforce.com, inc. (NYSE:CRM). Salesforce stock has been a beast this year, up 23%. Admittedly, CRM stock is not cheap.