The Weinstein Co. filed for bankruptcy protection on Monday with a buyout offer in hand from a private equity firm, the latest twist in its efforts to survive the sexual misconduct scandal that brought down co-founder Harvey Weinstein, shook Hollywood and triggered a movement that spread out to convulse other industries. The company also announced it was releasing any victims of or witnesses to Weinstein's alleged misconduct from non-disclosure agreements preventing them from speaking out. "Since October, it has been reported that Harvey Weinstein used non-disclosure agreements as a secret weapon to silence his accusers.
Former FBI Deputy Director Andrew McCabe was fired on March 16 — two days before his retirement. Now McCabe may not be able to receive his pension benefits for at least five years. A pension is a defined benefit retirement plan most commonly seen for US government employees, in which an employee contributes to the plan during their tenure and an employer guarantees a post-retirement payout.
Consumer confidence is at its highest level in 14 years, so it’s time to lighten up on stocks and build up cash. You read that right: The stock market tends to perform worse when consumer confidence is high. That is the conclusion I reached upon analyzing the S&P 500’s SPX, -1.42% correlation to the University of Michigan consumer sentiment index — which last Friday reached its highest level since 2004. (See chart, below.) Specifically, I compared each month’s index reading with how the stock market performed over the subsequent month-, quarter-, year-, and two-year period. I also measured how the S&P 500 reacts to big jumps or declines in the index. I then did the same for the Conference Board’s
Shares of a software company that bought assets of Hewlett Packard Enterprise (HPE) toppled more than 50 percent on Monday after the company cut its revenue forecast and its chief executive resigned. U.K.-based Micro Focus International said it now expects revenue to fall anywhere between 6 and 9 percent for the twelve months ending October 31, 2018, significantly lower than the 2 to 4 percent decline it predicted in its interim January results. This was due largely to "one-off transitional effects" of the firm's $8.8 billion takeover of HPE's software assets last year, and issues associated with the implementation of a new IT system, Micro Focus said. HPE was formed in late 2015 as a result of the split of HP into two companies.
shares fell sharply Tuesday after the business software group posted weaker-than-expected sales for its fiscal third quarter as revenue from its newly developed cloud computing division missed Wall Street forecasts. "During FY17, I forecast double-digit non-GAAP earnings per share growth for FY18," said Oracle CEO Safra Catz in a statement. "With non-GAAP earnings per share up 20% in Q3, our year-to-date earnings per share growth is now up to 16%.
Warren Buffett said his Berkshire Hathaway Inc. made only one “sensible” stand-alone acquisition last year, and it didn’t do much for his growing pile of cash. Berkshire paid $2.76 billion for its 38.6 percent stake in Pilot Travel Centers LLC, the owner of the Pilot Flying J truck stop chain, according to an insurance filing. Berkshire didn’t disclose the purchase price when it announced the deal in October, and hasn’t revealed the figure in subsequent reports to the U.S. Securities and Exchange Commission.
Sooner Trend Anadarko basin Canadian and Kingfisher counties - where companies such as Marathon Oil and Devon Energy bought up acreage following the oil slump in 2014. Leading the pack is Oklahoma-based Devon Energy Corp, which expects its STACK production to reach 140,000 barrels of oil equivalent per day (boed) by the end of 2018, up from 107,000 boed a year ago. Devon, also a Permian operator, said in a presentation earlier this month that it has earmarked more than 95 percent of its STACK budget for Meramec although it did not disclose dollar values.
Since December 2016, the S&P 500 has climbed more than 21%, while the Dow Jones Industrial Average is up more than 25%. General Electric Company (NYSE:GE) stock is down nearly 55% during that time. Things just look very bleak for GE stock right now.
Opportunity and peril in Tesla’s stock are ahead. Let’s explore the issue with a chart. Chart Please click here for an annotated chart of Tesla TSLA, -0.68% stock. Please observe the following from the chart: • The chart shows a key psychological level of $300 drawn in white. • The chart shows a support zone drawn in yellow around the key psychological level. • The chart shows Tesla Whac-a-Mole. Lately when there is bad news for Tesla, buyers step in around $300, often driving the stock higher. In the past month, investors drove the stock to $357. • The chart shows that Tesla’s stock is below the 200-day moving average. There is no magic by itself to the 200-day moving average. However, many
Amazon.com Inc. has looked at the possibility of expanding its retail footprint by acquiring some locations from bankrupt Toys “R” Us Inc., according to people with knowledge of the situation. Such a move would let Amazon quickly expand its brick-and-mortar presence, coming on the heels of buying Whole Foods Market Inc. and its more than 450 locations last year. Representatives for Amazon and Toys “R” Us declined to comment.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today: Covenant Transportation Group, Inc. (NASDAQ:CVTI): This company that provides truckload transportation and brokerage services has seen the Zacks Consensus Estimate for its current year
Facebook Inc (NASDAQ:FB) is a great American company which is in headline crisis mode. For a while now, FB stock sporadically comes under pressure over data impropriety. Case in point this morning we learned of yet another situation where Facebook account data were misused.
Apple and IBM have teamed up on an artificial intelligence service that is intended to make it easier for business customers to create apps. The service is an expansion of a nearly four-year old partnership between Apple and IBM in which the two companies create corporate apps together for Apple devices like the iPhone and iPad. The partnership capitalizes on Apple’s consumer technology-know how and IBM’s expertise in enterprise technology.
The “Fast Money Halftime Report” traders discuss Qualcomm's decline after Morgan Stanley reiterated its underweight rating on the stock.
Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways. In an "Executive Decision" segment, Cramer spoke with David Farr, chairman and CEO of Emerson Electric (EMR) , a company Cramer said has put more money in shareholders' pockets than any other he's seen. Farr said Emerson's automation business continues to be their strongest, and the company is benefiting from both tax reform and regulation reform. After years of underinvesting, Farr said, American manufacturing is now poised to begin reinvesting. When asked about tariffs, Farr said they're just part of the Trump package and Emerson "will work through it." He was encouraged by the appointment of Larry Kudlow
On today’s episode of the Tech Talk Tuesday podcast, Ryan McQueeney provides tech investors with everything they need to know about Facebook FB and Cambridge Analytica, a U.K.-based political consulting firm that reportedly accessed the personal data of up to 50 million Facebook users. On Monday, Facebook shares witnessed one of their worst days in years in the wake of reports related to Cambridge Analytica. Stories published by The Observer and The New York Timesover the weekend suggested that Cambridge Analytica violated Facebook’s terms of service and had inappropriate access to user data and personal information.
Oracle Corporation (ORCL) provides software and information technology products for on-site applications on customized hardware and in software for cloud computing services. The company is scheduled to report earnings after the closing bell on Monday, March 19. The stock closed Friday, March 16, at $52.27, up 10.6% year to date and up 13.6% from its Feb. 9 low of $45.92. Oracle set its all-time intraday high of $53.48 on March 13 and then closed below its March 12 low of $52.66, which defines a daily "key reversal." The stock has been above a "golden cross" on its daily chart since Feb. 24, 2017, and is well above its 200-week simple moving average or "reversion to the mean" at $42.40. The stock
We knew it was coming, and here it is. U.K. inflation is finally cooling. Normally a 0.3 percentage point drop in the rate would kill expectations for higher interest rates. But government bonds are living in a dream world. Though the Bank of England seems determined to look through the slowdown in consumer prices, gilts haven't got the message -- they're incredibly expensive. Source: Bloomberg The central bank wants to get itself on a rate hiking cycle in earnest. And that could be as soon as May 10, depending on how hawkish the minutes are from Thursday's monetary policy meeting. A host of market measures are pointing to that date, and chief among these are June 2018 short-sterling interest
A U.S.-trained economist was appointed Monday to succeed the longtime governor of China's central bank, Zhou Xiaochuan, at a time when the ruling Communist Party is trying to reduce financial risks and surging debt. The elevation of Yi Gang, a two-decade veteran of the central bank, to head the People's Bank of China was in a slate of promotions approved by China's ceremonial legislature of finance and economic officials as President Xi Jinping tightens control over government.
After a successful pilot program, FedEx Corp. (FDX) will place 500 FedEx Office locations in select U.S. Walmart (WMT) stores. Walmart-based FedEx Office locations will offer customers access to packing, shipping and printing solutions while also letting customers direct their packages to be held at any Walmart-based FedEx Office location for up to five business days, either directly or by redirecting using FedEx Delivery Manager. Walmart has been stepping up its competitiveness with Amazon (AMZN).
Oracle Corp. (ORCL) stock fell 0.59% to $51.95 in Monday's regular-hours trading session. With earnings on deck for Monday after the close, can the stock reverse its woes and head higher? With Oracle's 52-week highs about 3% above current levels, investors could push Oracle stock to new highs should the company report impressive numbers, TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment. After the Facebook Inc. (FB) news from over the weekend -- and the stock's 7.5% decline on Monday -- stock market investors need a more positive data point to focus on, he said. Could that come from Oracle? If its results are good, perhaps it can, reasoned Cramer, who also manages the Action Alerts
The bulls are working hard to bounce this market but it's a lackluster effort so far. The big concern for all the social media plays now is governmental regulation and that is not going to be clarified soon.
U.S. stocks joined a broad decline in global equity markets on Monday as traders turned cautious ahead of the Federal Reserve's policy meeting this week and amid continuing concerns about the threat of a global trade war. At the same time, shares of Facebook Inc shed nearly 7 percent after reports that a political consultancy that worked on U.S. President Donald Trump's 2016 campaign gained inappropriate access to data on 50 million of the social network's users.
Through its John Deere brand, Deere & Company is a leading manufacturer of agricultural, construction, and forestry machinery. Deere & Company shares have surged about 45% over the past year, significantly outpacing its industry peers. Region wise, equipment net sales increased 24% in the United States and Canada, and 33% in the rest of the world.