The S&P 500 has done almost nothing during the trading session again on Thursday, as the market simply is sitting still just below the 3100 level. It should be noted that the volume has dropped off as of late, so it shows a general lack of interest in trying to punch through the ceiling. That being said, we haven't pulled back though, so that of course is good news as well, because markets can also work off excess via time instead of pulling back.
Berkshire Hathaway picked up RH and Occidental Petroleum in the third quarter, but Warren Buffett soured on Apple, the latest quarterly 13F filings with the SEC show. Hedge funds also disclosed their top Q3 stock buys and sells. Individual investors use the regulatory data to gauge where the "smart money" is placing its bets.
On Thursday morning, Walmart reported the firm's third quarter (fiscal 2020) financial performance. Don't get me wrong, I like Walmart, but I thought the immediate reaction was indeed overdone. For fiscal Q3 2020, Walmart reported adjusted EPS of $1.16, which not only showed earnings growth of 7.4% from the same quarter one year ago, but beat consensus.
Tencent Holdings stock dipped Wednesday after the company reported third-quarter results that missed Wall Street revenue estimates but matched on earnings. The Tencent earnings report came before the market open. The China-based internet giant reported adjusted earnings of 36 cents per share on revenue of $13.75 billion.
Boomers, or the generation born between 1944 and 1964, have been riding a 10-year bull market into retirement, steadily upping bets on stocks to boost 401(k) returns and exposing them to unnecessary risk. More than a third of the generation had crossed over Fidelity's recommended allocation to stocks, which is 70% for those 10 years from retirement. By comparison, almost a quarter of all savers had too much devoted to stocks.
What is the size of the average retirement nest egg? A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in corporate-sponsored 401(k) plans at the end of 2018 was $95,600. As you might expect, young workers tend to have less money saved for retirement than older workers do, in part because their salaries are usually lower and they haven't had as many years to contribute to their retirement accounts.
Goldman Sachs has an interesting idea… Move toward US companies with high exposure to international sales. Goldman points out that such companies are on an upswing in 2H19, and that a basket of such stocks has been outperforming both the firm's other portfolios and the broader S&P 500. Stephanie Cohen, Goldman Sachs' chief strategy officer, in an interview last week talked down fears that the US-China trade tensions are unwinding long-established economic cooperation between the two countries.
Julia Wang, greater China economist at HSBC, discusses China's October industrial output and retail sales data and what they mean for the economy. She speaks on “Bloomberg Markets: Asia.
Shares of Farfetch Ltd. (ftch) jumped 15% in the extended session Thursday after the luxury online retailer reported a narrower third-quarter loss and said it expects a "strong" fourth quarter. Farfetch reported a loss of $85.5 million, or 28 cents a share, in the quarter, compared with a loss of $77.2 million, or 30 cents a share, in the year-ago quarter. For the fourth quarter, Farfetch said it expects a loss between $21 million and $31 million.
This article originally appeared on MarketWatch, a sister publication of Barron's. We publish articles from other sites when we think our readers will enjoy them. BRKA) (ticker: BRK.B) revealed new stakes in furniture maker (RH)(RH) and energy company (OXY) (OXY), according to a filing on Thursday.
Dow Jones futures rose modestly Thursday, along with S&P 500 futures and Nasdaq futures. Trump economic adviser Larry Kudlow said a China trade deal is "close," catnip for the stock market rally. Chip leaders Nvidia and Applied Materials reported earnings after the close.
Weibo stock plunged Thursday after the China internet company reported third-quarter results that slightly missed expectations on revenue. The Weibo earnings report came before the market open. The Chinese social media company reported adjusted earnings of 77 cents per share on revenue of $467.8 million.
Isaac Poole, chief investment officer of Oreana Financial Services, talks about mainland China and Hong Kong economies and stocks. He speaks with Yvonne Man and Selina Wang on "Bloomberg Markets: China Open."
Shares of Sarepta Therapeutics slumped Thursday after the biotech company announced a $48 million gene-therapy collaboration with StrideBio. On the stock market today, Sarepta stock dropped 3.6%, to 97.41. Under the terms of the deal, Sarepta granted biotech company StrideBio a license to research, develop and manufacture up to eight gene therapies.
Berkshire Hathaway disclosed Thursday that it bought a 1.2-million-share stake in luxury furniture retailer RH, formerly known as Restoration Hardware, during the third quarter, sending the Corte Madera retailer's shares up 7% in after-hours trading. Berkshire, led by legendary investor Warren Buffett, also trimmed his stakes in Apple and Wells Fargo. Buffett has been steadily selling some of Berkshire's Wells Fargo shares to keep its stake under 10 percent for regulatory reasons as the bank buys back stock.
The company reached a separation agreement with Stuart Spence, who was McDermott's CFO until Nov. 4, that provides him some severance benefits, according to a filing with the U.S. Securities and Exchange Commission. The severance bonus Spence is picking up as part of the agreement finishes out the two remaining awards under a retention bonus he and other McDermott executives won in October, according to the SEC filing. On top of that, any outstanding awards for Spence under McDermott's long-term incentive program will vest in March at the latest, according to the filing, though he forfeited all other unvested performance awards.
Best of all, as you surely know from paying your bills each month, some services are regular expenses built into annual budgets. If you're looking for service stocks that pay you back, check out these eight companies offering yields that are currently more than 5% annually based on the last 12 months of distributions. Advertising is a service that is a necessity for many small businesses or for enterprises like sports or entertainment venues that have a constant appetite for customers based on their changing schedules.
You've more than tripled your money in 10 years by investing in broad U.S. stock market index funds, having weathered a potential double-dip recession (2010), the fiscal cliff (2012-2013), energy-bond volatility (2015) and a transition from presidents Obama to Trump (2016-2017). A question that's been forgotten is, “Are you getting paid to take investing risks?” One way to find out is to track valuation, which used to be a key measure for investors, particularly value investors like me. If the present value is greater than the company's stock value, there is a margin of safety for investors.
Cisco Systems Inc. shares dropped Thursday after analysts slashed price targets in response to a disappointing outlook from the networking giant, but most said the problems appear to stem from a slowdown in the larger tech-spending environment. Cisco (CSCO) shares touched an intraday low of $44.60 Thursday morning, or 8% lower than Wednesday's closing price. Cisco issued a disappointing outlook late Wednesday after the San Jose, Calif.-based company said a slowdown in big deals had become more pervasive.
Amid the rapidly changing video landscape and uncertainty over T-Mobile US Inc.'s pending merger with Sprint, only one U.S. telecommunications name still has room for upside, according to HSBC. Analyst Sunil Rajgopal downgraded shares of Altice USA (ATUS) , AT&T Inc. (T) , T-Mobile (TMUS) , and Verizon Communications Inc. (VZ) to hold from buy on Thursday, leaving Comcast Communications Inc. (CMCSA) as the only telecom stock that still warrants a bullish rating from HSBC.
The country has experimented with both wealth taxes and very high top income taxes, with disappointing results. France had a wealth tax from 1982 to 1986 and again from 1988 to 2017. The top rate was between 1.5% and 1.8%, with the total tax rate on fortunes larger than 13 million euros ($14.3 million) hovering at about 1.4%.
Sina stock plummeted Thursday despite reporting better-than-expected third-quarter results. The Sina earnings report came before the market open. The China internet company reported adjusted earnings of 94 cents per share on adjusted revenue of $558.8 million.
JD.com (NASDAQ: JD) releases its next round of earnings this Friday, November 15. Get the latest predictions in Benzinga's essential guide to the company's Q3 earnings report. JD.com EPS is expected to be around 17 cents, according to sell-side analysts.
Ribbon will pay $324 million in cash and 32.5 million shares of Ribbon common stock for ECI, according to a statement Thursday, confirming a report in Bloomberg News. ECI shareholders will also receive $31 million from ECI's sale of real estate assets. Ribbon will finance the deal with about $500 million in debt, according to an investor presentation.
Chief Technology Officer Kevin Scott will take over Shum's duties effective immediately. Shum, a 23-year Microsoft veteran with a doctorate in robotics, was one of the founding members of Microsoft's research lab in Beijing and also ran Bing search engine product development.