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.
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.
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.
2018 is just about over, in the minds of some investors. "We expect investors will soon look past 2018 and focus on 2019 growth," says Goldman Sachs strategist David Kostin. "For many years, beginning in July investors would start to value stocks
It has been about a month since the last earnings report for General Electric Company GE. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. General Electric started 2018 on a robust note as it reported first-quarter 2018 adjusted earnings of 16 cents per share, which beat the Zacks Consensus Estimate of 11 cents.
Trump handed Tim Cook a gift to start the week. shares rose firmly in pre-market trading Monday as investors reacted to a thawing of trade tensions between the U.S. and China, a move that would ease concerns for the manufacturing base of the world's biggest tech company. Apple makes most of its tech hardware, including iPhones, Macs and Apple Watches, from manufacturing bases in the Asia region, including mainland China and Taiwan.
Ryanair Chief Executive Michael O'Leary speaks about how the price of oil is impacting his business.
Refineries, processing, petrochemical facilities and retail gasoline stations are gaining in importance, while upstream spending stalls. The WSJ reports that BP has plans to open 1,000 retail gasoline stations in Mexico and India over the next three years while ExxonMobil has massive investments tied up in refineries along the Gulf Coast. Other oil majors have similar plans, while also stepping up bets on renewable energy.
The departure of Baidu Inc.’s most senior operational executive threatens to derail the Chinese search giant’s ambition of placing artificial intelligence at the heart of its business. On Friday, the company stunned investors with the revelation that Microsoft Corp. veteran Qi Lu -- hired just over a year ago to accelerate its drive into everything from autonomous cars to digital assistants -- was stepping down because he could no longer work full-time in China for personal reasons. Credit Suisse Group AG became among the first to raise a warning flag when it downgraded the stock.
Stocks and the dollar rose but gave up some gains on Monday after the U.S.-China trade war was declared "on hold", while in Europe Italy's borrowing costs climbed and the Milan bourse retreated as two anti-establishment parties got closer to power. "There's certainly a 'feel-good' sentiment on risky assets" due to the U.S. trade announcement, said Stephane Barbier de la Serre, a strategist at Makor Capital Markets. U.S. Treasury Secretary Steven Mnuchin declared the U.S. trade war with China "on hold" following an agreement to drop their tariff threats that have roiled global markets this year.
Applied Materials Inc. led semiconductor-related stocks to losses Friday and to a weekly decline after the chip-maker materials supplier’s outlook indicated a possible slowing in the recently hot sector. Applied Materials (AMAT) shares fell 8.3% to close at $49.51, after hitting an intraday low of $48.53, as analysts were split on target price moves after the company’s sales outlook was lighter than Wall Street expected. For the week, shares of Applied Materials are down 9.7%, the SOX index swung to a weekly loss of 0.4%, and the S&P 500 (^GSPC) finished down 0.5%.
Gold fell victim to surging U.S. Treasury yields, a stronger dollar and the easing of geopolitical tensions, falling sharply lower last week. The 10-year yield briefly hit 3.128 percent, its highest level since July 8, 2011 when the note yielded as high as 3.184 percent. The U.S. Dollar put in a stellar performance against a basket of major currencies last week, bolstered by solid U.S. economic data, rising U.S. Treasury yields and a weak performance in the Euro.
Shares of Campbell Soup Co. slid more than 12% Friday to their lowest level since January of 2013, after the company announced the immediate departure of chief executive Denise Morrison and said it would conduct a full review of its entire portfolio amid struggles with fresh food and soup. The previous guidance was for an adjusted EPS decline of 1% to 3%.
"Alexa, order me my Lipitor" are five words that could prove financially devastating to pharmacies such as Walgreens Boots Alliance , CVS Health and Rite Aid . With Wall Street waiting on pins and needles to see how Amazon will enter the healthcare
Kathy Jones, Schwab Center for Financial Research, and Michael Thompson, S&P Investment Advisory Services, share their outlook on the markets and interest rates.
Blood-testing company Theranos had been around for 12 years before questions started getting raised. In Wall Street Journal investigative reporter John Carreyrou's new book, "Bad Blood: Secrets and Lies in a Silicon Valley Startup," he describes a demonstration of the technology in 2006, in which recorded blood-testing results were presented as real-time results. While Theranos was founded in 2003, questions didn't start getting raised about the company until nearly 12 years later when Wall Street Journal investigative reporter John Carreyrou started poking holes into its claims about its new blood tests.
Here are three tips for investors to keep in mind from TheStreet's founder Jim Cramer. Keep emotions out of investing, let the trading action and the company's fundamentals dictate your course of action. Says Cramer, "Always remember that once you have done the requisite research your determination of when to buy a stock needs to be strict, it needs to be unemotional.
The largest proxy advisory firm is recommending that investors reject two of Tesla Inc.’s board members, while also supporting a proposal to split the role of chairman and chief executive officer -- jobs now held by Elon Musk, the public face of the electric-car maker. By opposing directors Antonio Gracias and James Murdoch, and seeking to install an independent chairman, Institutional Shareholder Services is ratcheting up the pressure on Tesla to reform its nine-member board in the wake of production delays on its mass-market Model 3. "Shareholders would benefit from the strongest form of independent board oversight in the form of an independent chair," ISS wrote in a report to clients.
The dollar strengthened against most major peers and U.S. equity futures rallied as the world’s two largest economies appeared to step back from the brink of a trade war. Treasury yields climbed, and European shares advanced. The greenback rose after Treasury Secretary Steven Mnuchin said the U.S. was “putting the trade war on hold,” amid progress in talks with China.
shares rose firmly in pre-market trading Monday amid reports the industrial is ready to merger its transportation business with rail equipment maker Wabec Corp. Reuters reported over the weekend that the deal, which would be the biggest move under new CEO John Flannery, would match the $4.7 billion in GE transport revenues with the $9.2 billion market value of locomotive, freight and marine diesel engine equipment maker Westinghouse Air Brake Technologies Corp., also known as Wabtec. GE shares were marked 2.2% higher in pre-market trading in New York, indicating an opening bell price of $15.30, a move that would still leave it with a year-to-date decline of 12.2%.
Starbucks today announced that it is now official policy to allow all guests in its stores to use its facilities, including restrooms, whether they buy anything or not. The coffee chain had previously lacked a clear policy on the question. That ambiguity
The pair is also slowly beginning to buckle under the pressure of the dollar strength that we have been seeing all across the markets over the last 2 weeks. The GBPUSD pair had been holding on to the 1.35 region over the last few weeks despite the weakness in the dollar and it looked as though the bulls would be able to survive after all. This has added to the dollar strength and though the bulls in the pound managed to hold out for a week or so, they couldn’t hold on towards the end of last week.
It has been about a month since the last earnings report for The Blackstone Group L.P. BX. 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. Blackstone reported first-quarter 2018 economic net income (ENI) of 65 cents per share, which handily surpassed the Zacks Consensus Estimate of 46 cents.
Wall Street stocks were poised to rally on Monday, with Dow futures up over 200 points as investors welcomed news of a U.S.-China agreement that could reduce America’s trade deficit with the world’s No. 2 economy. Meanwhile, deal news was buoying several stocks, such as MB Financial Inc., General Electric Co. and Wabtec Inc. Last week, both the Dow (^DJI) and the S&P 500 (^GSPC) fell 0.5%, the third weekly decline of the past four for both.
Wabtec Corp. and GE Transportation, a unit of General Electric, will merge, creating a global transportation leader in rail equipment, software and services. The merger agreement, which has been approved by both companies’ boards and is expected cut costs, is for GE to receive $2.9 billion in cash from Westinghouse Air Brake Technologies, also known as Wabtec, at closing. GE and its shareholders will receive a 50.1% ownership interest in the combined company, with Wabtec shareholders retaining 49.9% of the combined company.