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
"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.
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.
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. Here’s the updated scoop on the conversion strategy, taking into account the possibility of tax reform. Roth conversion basics A Roth conversion is treated as a taxable distribution from your traditional IRA, because you’re deemed to receive a payout from the traditional account with the money then going into the new Roth account. So doing a conversion this year will trigger
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
The seminal financial event of this year, the current decade, and possibly our generation is here: Futures trading in bitcoin has begun. But the derivative that would really damp the current crypto frenzy and make digital tokens a speculator-friendly -- if not investment-worthy -- commodity, currency, tulip, or whatever, isn't futures. It's options. Options could supplement futures contracts in damping irrational exuberance for bitcoin It's hard to see how even existing futures trading rules can deal with something as volatile as bitcoin. Cboe Global Markets Inc. began offering them on Sunday, and soon they'll be available on CME Group Inc. Brokers including E*Trade Financial Corp., TD Ameritrade
(This is the third in a three-part series on analysts’ favorite stocks for 2018. The series began with large-cap stocks and continued with mid-cap stocks.) A year ago we listed analysts’ favorite small-cap stocks for 2017. The results are mixed. But for next year, Wall Street is even more enthusiastic about smaller companies than they were during the initial euphoria following President Trump’s election. When we pulled the list of analysts’ favorite small-cap stocks for 2017, we started with the S&P 600 Small-Cap Index SML, -0.05% and identified 24 companies with majority “buy” ratings among at least three analysts. They also had consensus price targets that showed the stocks were expected to
The first-even bitcoin future began trading Sunday as the increasingly popular virtual currency made its debut on a major U.S. exchange. The futures contract that expires in January rose $340 to $15,800 in the first hour and 15 minutes of trading on the Chicago Board Options Exchange. The CBOE futures don't involve actual bitcoin.
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.
Despite the (well-founded) protests of JPMorgan, Citigroup and other Wall Street brokers, bitcoin futures are set to go live Sunday evening at 6:00 p.m. EST on the Cboe Futures Exchange (CFE). Next Sunday, December 17, the CME Group (CME) is expected to launch its own bitcoin futures. Currently, bitcoins are mainly traded on one of the many “cash” exchanges that exist around the world — even the largest of which has been subject to outages. Though bitcoin derivatives already exist (LedgerX just launched in October), bitcoin futures are expected to eventually bring the liquidity and stability demanded by large institutional traders and small retail traders alike. What happens to the price of bitcoin once bitcoin futures begin trading?
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
Cboe Global Markets, the Chicago-based exchange group, will be the first exchange to launch bitcoin futures on Sunday. CME Group, Cboe's cross-town rival, will launch its market later in December. The new product by Cboe will allow investors to bet on the future price of bitcoin, which skyrocketed to an all-time high above $17,000 on Thursday, according to data from Markets Insider.
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
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
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.
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,”
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
(This is the first in a three-part series on analysts’ favorite stocks for 2018. The list of large-cap stocks is below and the series continues with mid-cap stocks and small-cap stocks.) About a year ago we listed analysts’ favorite large-cap stocks for 2017. We’re going to do the same for 2018, but first, let’s see how last year’s selections performed. The list reflected data as of the market close on Dec. 5, 2016. There were 18 S&P 500 stocks with majority “buy” ratings that analysts expected to increase at least 30% over the subsequent 12 months, based on consensus price targets: From Dec. 5, 2016, through Nov. 30, 2017, the S&P 500 Index rose 20%. Of analysts’ 18 favorite large-cap stocks
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
By Saqib Iqbal Ahmed NEW YORK (Reuters) - 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 Futures Exchange. This has given an extra kick to the cryptocurrency's scorching run this year.
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.
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