President Trump didn’t upset financial markets this week. Greg Valliere of Horizon Investments predicts the House of Representatives will pass a new set of tax cuts by summer, with a tougher path through the Senate. For those with short memories, Congress just passed a big set ofRead More »
Dozens of companies have given employees one-time bonuses on account of the tax cuts President Trump signed into law last year. In fact, ADP’s CEO recently told employees that investors, not workers, will see most of the benefits of tax cuts. At an internal town hall meeting on March 15, ADP CEO Carlos Rodriguez fielded an employee question on what the company planned to do with the savings from corporate tax cuts.
Advanced Micro Devices, Inc. AMD is scheduled to report first-quarter 2018 earnings on Apr 25.Notably, the stock has delivered an average four-quarter positive earnings surprise of 35%. In the last reported quarter, the company came up with a positive
AT&T Corp. was sued by a tech firm that accuses the largest U.S. provider of pay TV of stealing the startup’s technology for providing online streaming news and interfering with its launch. Dallas-based AT&T reneged on an agreement to invest $100 million in My24hournews.com, which invented a system to deliver streaming news to computers, smartphones and tablets, after making off with its technology, the tech firm said in a lawsuit. AT&T violated agreements with My24hournews.com by “refusing to fund My24’s launch’’ and “holding My24’s Broadcast Platform hostage,’’ according to the complaint filed in federal court in Atlanta this week.
The first contract secured by Transocean is for its semi-submersible rig, GSF Development Driller I in Australia. The contract is an extension of the rig’s current work, which is scheduled to terminate in September 2018. Quadrant Energy intends to extend the contract, which will now deploy the rig for two more months — November and December.
WASHINGTON/JEDDAH, Saudi Arabia (Reuters) - U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters. "Looks like OPEC is at it again. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.
“First-level” investors – those who buy and sell on headlines – mistakenly believe that real estate investment trust (REIT) profits will suffer if rates continue to rise. Overall, rising rates are actually good for the best REITs because it signals a rolling economy. Take the Vanguard REIT ETF (NYSEARCA:VNQ), which is now paying its highest current yield since 2009.
As earnings season is starting to pick up pace, here’s a look at some the top stock trades in the stock market. With shares of Apple Inc. (NASDAQ:AAPL) down more than 4% Friday, it’s no wonder tech is having a tough day. Many investors are trying to figure out what to make of Apple’s 7% slide over the past three trading sessions.
On paper, most analysts will agree that Activision Blizzard, Inc. (NASDAQ:ATVI) is enjoying a solid start to this year. Against the January opener, ATVI stock has gained nearly 9%. Despite Activision’s immense reputation in delivering the most compelling first-person shooter games, another company has unexpectedly taken its throne.
Kraken co-founder and CEO Jesse Powell says the cryptocurrency exchange will not comply with the New York attorney general's request for information.
Other industry players are falling today as well on the news as investors ruminate on an uncertain future for tobacco. U.S. Marlboro producer Altria (MO) is down over 7% and British American Tobacco (BTI) – owner of R.J Reynolds – is down almost 6%. Philip Morris has missed the Zacks Composite Earnings estimate in each of the last 4 quarters due to regulation, increased taxation and an overall decline in demand for tobacco products.
The Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of Currency (OCC) announced a combined fine of $1 billion against Wells Fargo (WFC) on Friday. The consent orders from the two agencies described how the bank unfairly disregarded its advertised process of locking-in interest rates for mortgages, as well as unfairly foisting insurance on customers taking out auto loans. If a closing of a mortgage dragged on due to Wells Fargo and not the customer, the bank still charged customers to keep the rates locked — despite this being contrary to policy, the consent order notes.
The market may have faced a brutal decline on Friday led by the stock of Apple, but CNBC's Jim Cramer knows investors could handle a dip in the stock of the world's largest company. "And we can handle the yield on the 10-year Treasury surging ever closer towards 3 percent. But we can't handle both in the same day," the "Mad Money" host said. "Hence today's shellacking." Cramer blamed the algorithmic processes that direct machines to sell stocks and buy bonds when Treasury yields approach 3 percent, noting the influx of good earnings reports that happened ahead of the weekend. With that negativity in mind, Cramer turned to the stocks and events he'll watch in earnings season's fullest week yet,
Walmart is testing new dress codes in a small number of U.S. stores with the hopes that this more relaxed environment will help to reel in and retain staff in an increasingly tighter labor market. This means that workers will be allowed to wear shirts of any solid color, which marks a shift from its previous option of only having blue or white shirts, according to an employee manual obtained by Bloomberg News. Walmart adds that visible facial tattoos will be forbidden for those hired after April 14, according to the manual.
Bitcoin gained 1.33% on Thursday, following Wednesday’s 3.56% gain, to end the day at $8,281, a lacklustre performance relative to its peers. It was a choppy morning for Bitcoin, which slid to a start of the day $8,032.2 low to set the tone for the day, the morning low calling on support from the 23.6% FIB Retracement Level of $7,996.57 to hold at $8,000 levels early. An intraday high $8,297.4 in the final hours of the day came up short of the day’s first major resistance level of $8,314.3, with earlier runs at $8,300 also coming up against strong resistance, limiting Bitcoin’s gains through the middle part of the day.
Volatility has been the key theme on Wall Street over the past couple of months. Although earnings optimism has once again encouraged investors to take on risk, strained U.S.-China trade ties and escalating tensions in Syria are acting as dampeners.
Stock market investors showed lukewarm enthusiasm for Pivotal Software's debut on Friday. After pricing the IPO at $15, the company closed the day at $15.73.Although it didn't "pop" for new investors, pricing at the midpoint of its proposed range allowed
Two photo-sharing services are teaming up, as SmugMug buys Flickr from Verizon's digital media subsidiary Oath. USA Today broke the news and interviewed SmugMug CEO Don MacAskill, who said he hopes to revitalize Flickr . At the same time, he said he's still figuring out his actual plans: "It sounds silly for the CEO to not to totally know what he’s going to do, but we haven’t built SmugMug on a master plan either.
Since the February stock market correction started, Philip Morris International Inc. (NYSE:PM) stock has had a turbulent period of trading. Compare that with a flat stock market — both Philip Morris and Altria Group, Inc. (NYSE:MO) stocks have been decimated. Meanwhile, cannabis stocks like GW Pharmaceuticals plc (NASDAQ:GWPH) have fared much better and are in line with the stock market in general.
Friday, April 20, 2018The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Goldman Sachs (GS), Abbott Labs (ABT) and Altria (MO). These research
(Reuters) - General Electric Co is exploring merging its transportation business, which manufactures train engines, with Wabtec Corp, a U.S. maker of equipment for the rail industry, a person familiar with the matter said on Friday. GE
A U.S. bond sell-off continued for a second day on Friday, pushing the 10-year Treasury yield to its highest level in more than four years and steepening the yield curve after two weeks of flattening. World stock markets dipped as worries about a global slowdown in smartphone demand dented the technology sector, while oil prices fell after U.S. President Donald Trump sent a tweet criticizing OPEC and then mostly recovered. The higher yields seemed to reflect a technical shift in the market, rather than a jump in investor confidence in the U.S. economy or rising inflation, so analysts are regarding the steeper curve as temporary.
Semiconductor stocks as a group had a difficult day on Thursday as a broad-based sell-off in this space pushed many of these stocks lower. In my eye however the next major catalyst are the upcoming earnings reports. For Advanced Micro Devices, Inc. (NASDAQ:AMD) the earnings report will hit on April 25 after the close of trading for the day.
Weatherford International Ltd. WFT is expected to report first-quarter 2018 earnings on Apr 24, after the closing bell.In the last reported quarter, the leading oilfield services company delivered a negative earnings surprise of 57.1%. Weatherford posted
Shares of AT&T (T) are higher on news it may soon launch a low-cost streaming service. A report from The Wall Street Journal details the telecom's plans to launch a $15 a month "skinny bundle" service without sports, according to testimony from its CEO during the antitrust case for its proposed acquisition of Time Warner (TWX). That would make AT&T Watch, expected to hit the market in the coming weeks, one of the lowest prices for a nationwide streaming live TV plan. Wells Fargo's Jennifer Fritzsche writes that the move shows AT&T is already making post-court plans. The service would be available to any customer--so a Verizon Communications (VZ) wireless subscriber can sign up--but it's free