Shares of Qualcomm (QCOM) are up 54 cents, or 0.8%, at $68.67, and Broadcom (AVGO) is up $4.08, or 1.5%, at $279.45, as the maneuvering apparently continues in their M&A battle, according to a report yesterday by The New York Post’s Josh Kosman saying Broadcom “has looked to scuttle” Qualcomm’s existing offer to purchase NXP Semiconductors (NXPI). Given that many believe the NXP buy is pivotal for Qualcomm, Bernstein’s Stacy Rasgon today opines that Broadcom has left Qualcomm management with three not so good options. The Post story says Broadcom is considering raising its bid for Qualcomm, which was rejected two weeks ago by Qualcomm management, to $77 from $70. But a condition would appear
The Blackstone Group L.P. BX has lately been witnessing downward revisions. The Zacks Consensus Estimate for earnings of $2.75 for 2017 declined 1.1% over the last 60 days. The stock carries a Zacks Rank #3 (Hold) with an unimpressive Growth Score of F. Our research shows that stocks with a Growth Score of A or B when combined with a Zacks Rank #1 (Strong Buy) or 2 (Buy) offer the best upside potential.
CHICAGO/NEW YORK (Reuters) - U.S. stores offered deep discounts, entertainment and free gifts to lure bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases. On Thanksgiving Day, U.S. shoppers spent more than $2.87 billion online.
Warren Buffett is a laggard. Buffett seems to be an investor who is unlikely to overreact to such underperformance, and actually if one looks at the monthly data (I use Morningstar as my source for relative performance data), Berkshire was beating the S&P for all those periods as of the end of October. Berkshire doesn't own much tech, and this market loves tech.
Oil price has recovered from historical lows of February 2016. From $26.21 a barrel — the lowest since 2003 — crude jumped to $58.02 yesterday. With the problem of supply glut easing, big energy players are generating more cashflows for shareholders.One
Per a recent FierceTelecom report, Verizon Communications Inc VZ has come up with a range of wireline and wireless offers for Thanksgiving shoppers.Currently, Verizon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank
Nov.23 -- S&P Global Chief Economist Asia-Pacific Paul Gruenwald discusses China's economy and talks about the country's credit data. He speaks on "Bloomberg Daybreak: Asia."
Jeff Bezos is the world’s newest $100 billion mogul. The Amazon.com Inc. founder’s fortune is up $2.4 billion to $100.3 billion, as the online retailer’s shares jumped more than 2 percent on optimism for Black Friday sales. Online purchases for the day are up 18.4 percent over last year, according to data from Adobe Analytics, and investors are betting the company will take an outsized share of online spending over the gifting season. The $100 billion milestone makes Bezos, 53, the first billionaire to build a 12-figure net worth since 1999, when Microsoft Corp. co-founder Bill Gates hit the mark. Bezos’s fortune rose $32.6 billion this year through Thursday, the largest increase of anyone on
A rise in crypto-currencies such as Ethereum is good news for Nvidia (NVDA) investors, according to a note today from RBC Capital’s Mitch Steves, who reiterates an Outperform rating on the shares, opining the price rises will propel use of Nvidia’s GPUs for as long as prices keep rising. The “payback period” for crypto-currencies has dropped “materially” with the price increases of the currencies, he writes, including not just Ethereum but also “Monero,” “zCash,” and Bitcoin. Htye’ve all risen by 36% or better, and 145% in the case of Bitcoin, just in the last few weeks. The payback for Ethereum is now around 5.6% months, down from 9.4 months before the rise, writes Steves. These declines in
It has been about a month since the last earnings report for Advanced Micro Devices, Inc. AMD. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. AMD reported non-GAAP earnings of 10 cents per share compared with 3 cents per share in the year-ago quarter.
The benchmark S&P 500 and the blue-chip Dow Jones industrials posted weekly gains for the first time in three weeks while the Nasdaq Composite posted its best weekly performance since the week to Sept. 1. The stock market had a half session on what is known as Black Friday, the day after the Thanksgiving holiday and the unofficial start of the U.S. holiday shopping season.
After a weak performance in 2016 due to drug pricing issues, the pharma industry has bounced back this year except for a minor correction recently. While Merck & Co., Inc. MRK was one of the very few companies whose shares were up last year notwithstanding the industry’s decline, it’s the other way round this year. Shares of Merck have declined 7.6% this year against a 14.8% increase for the Large-Cap Pharma industry.
Macy’s Inc. struggled to process credit cards in its stores on Black Friday due to heavy volume, a painful setback as the retailer kicked off the holiday season. Some transactions took longer to handle as payment systems reached capacity, spokeswoman Blair Rosenberg said in an email. The company has now “fully resolved” the problem, she said. “We highly value our customers and sincerely apologize for any inconvenience today’s system slowdown may have caused,” Rosenberg said. Social-media users around the U.S. complained on Friday that the company’s payment systems weren’t working, spurring long lines and abandoned purchases. The Cincinnati-based chain sent more employees to the sales floor as
Markets closed early on the day after Thanksgiving. Here are some highlights from the abbreviated trading day: Dow Jones Industrial Average, S&P 500 and Nasdaq all close well into the green S&P 500, Nasdaq both scored intraday highs at the market open Retail stocks are taking center stage as Black Friday statistics trickle in Online shopping appears to be outpacing traditional retail, with in-store traffic somewhat light and online and smartphone traffic gaining Energy stocks traded higher Friday as WTI crude oil reached close to $59 per barrel This comes as TransCanada's (TRP) Keystone XL pipeline deals with closures that will cap domestic production, and as OPEC readies for a meeting next
Amazon forked out $13.7 billion for Whole Foods to build its position in the grocery supply chain, leverage Whole Foods’ 434 retail outlets for delivering an omnichannel experience and tap the growing number of people doing their grocery shopping online. About 12% of grocery shoppers used online channels in 2016, but with millennials beginning to build their families, this percentage is on the rise. Moreover, Amazon really knows its customers on the basis of the tons of data it has accumulated about its patrons over the years.
A federal lawsuit set to go to trial next month marks the latest legal action brought against former Arizona Sheriff Joe Arpaio over allegations that he pursued a trumped-up criminal case to get publicity and embarrass an adversary. One of Flake's sons filed a malicious-prosecution lawsuit, saying Arpaio pursued felony animal cruelty charges against him and his then-wife in a bid to do political damage to the senator and gain publicity. Austin Flake and his wife were charged in the heat-exhaustion deaths of 21 dogs in June 2014 at a kennel operated by his in-laws.
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 S&P will double. My 5 year doubling thesis also means that we won't see another recession until stocks double again, nor will we see another bear market until stocks double again. In the past, following a recession, the economy would grow by over 3-4% annual GDP, and a new bull market would begin.
Recently, Ajit Pai, the Commissioner of Federal Communications Commission (FCC), revealed a draft plan for a complete roll back of Net Neutrality. The FCC is set to vote on the proposed changes at its next monthly meeting on Dec 14. Notably, in May 2017, the FCC voted 2-1 to start the formal process of unwinding the Net Neutrality rules.
"We also made clear that our forensic investigation was ongoing," Uber said. Uber described its early discussion with SoftBank when asked to comment on a Thursday Wall Street Journal report on the disclosure, which the newspaper said occurred about three weeks ago.
Friday, November 24, 2017The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 11 major stocks, including Union Pacific (UNP), Alibaba (BABA) and GlaxoSmithKline (GSK).
Today is Black Friday, of course — the day retailers traditionally turn a profit on their ledgers, switching from red ink to black. Stock market participants will be paying extra attention to how companies like Walmart WMT and Tiffany’s TIF perform in their fiscal fourth quarters, especially as Amazon’s AMZN online juggernaut continues relatively unabated. Can companies like Macy’s M beat back Amazon’s extensive stock and ease of delivery?
HONG KONG (AP) — Asian stock markets were mostly lower Friday with investors finding little guidance with Wall Street closed for the Thanksgiving holiday and Chinese markets in focus after a big sell-off the previous day.KEEPING SCORE: Japanese shares
Shares of Amazon.com Inc , Macy's Inc , Kohl's Corp and other U.S. retailers rose on Friday on early signs that consumers are on track to spend more this holiday shopping season than in previous years. "The turnout this morning has been relatively slow but it is still the best we have seen in three years," said Burt Flickinger, managing director of Strategic Resources Group, citing improving consumer confidence, a strong job market and healthy housing prices. Online retailers will rake in an additional $6.6 billion on Cyber Monday, according to Adobe.