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.
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.
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
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.
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.
Ryanair Chief Executive Michael O'Leary speaks about how the price of oil is impacting his business.
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.
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.
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
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.
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.
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%.
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.
Rear Adm. Jack Scorby commemorating Fleet Week at the NYSE, and Bob Eulau, Sanmina Corporation CEO, at the Nasdaq, ring today's opening bells.
The U.S. Supreme Court on Monday agreed to consider reviving a lawsuit by Indian villagers seeking to hold a Washington-based international financial institution responsible for widespread environmental damage they blame on a power plant it financed. The justices will hear an appeal by the villagers of a lower court ruling that the International Finance Corp was immune from such lawsuits under federal law. IFC, part of the World Bank Group, is an international institution with 184 member countries that helps secure financing for projects in developing nations.
Global stock markets edged higher on Monday and the U.S. dollar rallied to a five-month peak as trade tensions eased between the U.S. and China, while Italy's borrowing costs climbed as two anti-establishment parties grew closer to power. U.S. Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China "on hold" after both countries agreed to drop their tariff threats in favour of hashing out a broader deal.
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.
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.
Illumina, Inc. ILMN has been gaining investor confidence on consistently positive results. Over the past year, the company’s share price has outperformed its industry. Also, the company has outperformed the S&P 500’s 13.2% gain.
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
Value investing is easily one of the most popular ways to find great stocks in any market environment. One way to find these companies is by looking at several key metrics and financial ratios, many of which are crucial in the value stock selection process. A key metric that value investors always look at is the Price to Earnings Ratio, or PE for short.
Mnuchin is a friend of the chips. Chips stocks were rising Monday morning on news that United States and China have reached a tentative deal to cut trade deficits, with the U.S. holding off on implementing tariffs on Chinese goods. Treasury Secretary Steve Mnuchin told "Fox News Sunday" on May 20 that the U.S. is putting China tariffs "on hold" as the two countries reach a tentative deal to cut trade deficits.
The Dow Jones Industrial Average is soaring this morning as the trade war between China and the U.S. cools down, and General Electric (GE) announces a deal for its transportation unit. S&P 500 futures have risen 0.6% at 8:48 a.m. today, while Dow Jones Industrial Average futures have climbed 214 points, or 0.9%. Nasdaq Composite futures have gained 0.8%.