Binny Bansal, 37, stepped down immediately following an independent probe into the allegations, which the executive denies, Walmart said. “While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation,” Walmart said in a statement.
NVIDIA NVDA is consistently witnessing steady growth on the back of robust demand for graphic processor units (GPUs) and the momentum is likely to be reflected in the impending third-quarter fiscal 2019 results, scheduled to be announced on Nov 15. NVIDIA’s constant focus on introducing an array of fast and innovative products is a key growth driver in this regard. Datacenter presents a solid growth opportunity for the company.
Recent market volatility hasn't provided a "Big Low" in stocks, said Michael Hartnett, chief investment strategist at Bank of America Merrill Lynch. The recent stock market slid may look bad, but it wasn't bad enough to indicate that the damage has been completely done, according to Bank of America Merrill Lynch. "We remain bearish, as investor positioning does not yet signal 'The Big Low' in asset markets," Michael Hartnett, BofAML's chief investment strategist, said in a statement.
Republicans are losing their hold on upper-middle-class suburbs, and the tax reform bill may be to blame. Although a number of races are still too close to call, Democrats have taken 30 seats so far — more than the 23 GOP districts they needed to seize control of the House of Representatives. In swing districts across the country, new Democratic challengers vowed to defy the Trump administration while Republican incumbents touted the benefits of tax reform and a booming economy.
The Dow drops 600 points as stocks get slammed. Should investors still be buying the dip? With CNBC's Joe Kernen and the Fast Money traders, Pete Najarian, Steve Grasso, Brian Kelly and Tim Seymour.
L Brands Inc. could bring back the Victoria’s Secret swimsuit line now that the company has signaled no strategy is off limits if it improves profitability, Wells Fargo analysts say. L Brands’ (LB) portfolio includes Victoria’s Secret and Bath & Body Works. Wells Fargo upgraded L Brands to outperform from market weight, with analysts seeing a turnaround on the horizon as the company takes an “‘all options on the table’ mentality.” Analysts don’t expect a turnaround in the near future, but shuttering Henri Bendel and considering options, including a sale, of the La Senza business shows that the company has taken on a new focus.
General Electric Co on Tuesday unveiled a plan to raise about $4 billion by accelerating a proposed sale of a stake in oilfield services provider Baker Hughes, its latest move to simplify its businesses and reduce debt. Under the deal, the Boston-based industrial conglomerate will sell up to 101.2 million shares on the market and Baker Hughes will repurchase another 65 million shares from its parent. Based on Tuesday's share price of $23.76, the sale would raise around $3.97 billion.
Semiconductor stocks have been battered by recent market-wide volatility and concerns that the industry’s strong cycle is nearing its end. The aforementioned emerging tech trends have created new consumer demand, and the semiconductor makers are delivering. Mellanox Technologies is a leading supplier of semiconductor-based computer networking products to world-class server, storage, and infrastructure OEMs.
Shares of Johnson Controls were up 3.5 percent at $35.40 before the bell. The deal will allow Johnson Controls to focus on its building technologies and solutions business, which makes heating, ventilation and air conditioning systems, as well as building access control and fire detection systems. Reuters had reported, late last month, that Brookfield and Johnson Controls were close to finalizing terms for the sale of the unit, whose batteries are used in about a third of cars globally.
The Swiss bank is working on the loan to Louis-Dreyfus and her family trust Akira, said the people, who asked not to be named because the details are confidential. Louis-Dreyfus announced she had secured funds last week, but didn’t disclose the terms of the loan or who would be financing it. Representatives for Louis Dreyfus and Credit Suisse declined to comment.
Sears Holdings Corp. has announced that 40 stores will close in February 2019, adding to the 142 closures the struggling retailer announced previously. The stores, which include both Kmart and Sears locations, will begin liquidation sales late next week, the company said. Sears (SHLDQ) filed Chapter 11 on Oct. 15.
Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $78.29 billion, up 17.7% from the year-ago period. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Investors can capitalize on this by using the Zacks Rank.
“An increasing chunk of the investor base is of the view that one has to be already positioned for the next downturn,” strategists Mislav Matejka, Prabhav Bhadani and Nitya Saidanha wrote in a note Monday. A panoply of negatives has hit the U.S., and global, stocks since the start of October, starting with a rebound in benchmark Treasury yields, which has enhanced the appeal of risk-free investments.
Shares of General Electric GE plunged on Monday to their lowest level since March 2009, extending the stock's severe losses from the prior session. Shawn Matthews, CEO of Hondius Capital Management, addressed General Electric's debt load and how comments about the company's liquidity unnerves investors.
The latest evidence that what’s bad for Apple can be terrible for suppliers came on two continents within hours of each other. Japan Display Inc., which gets more than half its revenue from the iPhone maker, cut forecasts. Then Lumentum Holdings Inc., a top maker of iPhone facial-recognition sensors, lowered its second-quarter outlook.
The U.S. decision to cut off a Chinese state-backed chipmaker from U.S. suppliers amid allegations the firm stole intellectual property breaks World Trade Organization rules and aims to protect a U.S. monopoly, China told a WTO meeting on Tuesday. Last month the U.S. Commerce Department put Fujian Jinhua Integrated Circuit Co Ltd on a list of entities that cannot buy components, software and technology goods from U.S. firms. U.S. semiconductor company Micron Technology Inc , a maker of memory chips with factories in Virginia and Utah, has accused Jinhua and Taiwanese partner United Microelectronics Corp of stealing its chip designs in a lawsuit in California.
General Electric’s stock is acting right now like the banks did at the height of the 2008 financial crisis — completely disregarding any soothing words from those in the know. Shares of the fallen industrial giant have tanked 10% over the course of two days as Wall Street grows increasingly concerned about GE’s sky high debt levels, weakening fundamentals and pressured liquidity position. “While liquidity is certainly debatable, we believe this is not really about liquidity, it’s about a deterioration in run rate fundamentals,” said JPMorgan analyst Stephen Tusa in a note on Friday.
The Dow Jones Industrial Average ended Monday trade near session lows, amid a firming U.S. dollar. Last week, investor sentiment was buffeted by a rapid decline in crude-oil prices (CLZ8) which fell into bear-market territory, defined as a drop from a recent peak of at least 20%.
STOCKSTOWATCHTODAY BLOG One day after taking a 600-point beatdown, the Dow Jones Industrial Average is trying to rally back. S&P 500 futures have risen 0.4%, while Dow Jones Industrial Average futures have advanced 66 points, or 0.
Shares of the Ball Park hotdogs and Jimmy Dean sausages maker fell $4.11, or 6.7 percent, to $57.50 in late morning trading. Demand for chicken has eased in the United States as President Donald Trump's trade wars resulted in lower exports of U.S. beef and pork to China and Mexico, boosting the domestic supply of the competing meats. The U.S.-China trade war has all but halted shipments of many American agricultural goods to China, including meat and soybeans.
West Texas Intermediate crude for December delivery on the New York Mercantile Exchange (CLZ8) settled lower on Monday, marking its 11th consecutive decline, surpassing a 10-day skid for the contract from July 18-July 31 1984, according to Dow Jones Market Data. It’s 11th straight decline is now the longest series of losses for oil since WTI started trading in 1983, according to Dow Jones Market Data. Rising production and a softening in U.S. oil sanctions on Iran, that included waivers for big crude importers like China, which helped to contribute to a whipsaw lower for oil prices.
Heading into today, shares of the real estate investment trust had gained 1.72% over the past month, outpacing the Finance sector's loss of 2.67% and the S&P 500's loss of 3.33% in that time. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. Based on our research, we believe these estimate revisions are directly related to near-team stock moves.
What's behind this dramatic decline and how can it be stopped? What would make this market bottom? Skyworks is integral to the nuts and bolts of cellphone signals, Lumentum is about facial recognition.
GE will sell as many as 166.2 million shares in the oilfield-services provider through a secondary offering and a stock repurchase by Baker Hughes, the companies said in statements Tuesday. Culp’s decision punctuates the pivot away from oilfield businesses championed by former CEO Jeffrey Immelt, who spent $10 billion on deals in the decade through 2013 and agreed in 2016 to merge GE’s oil businesses with Baker Hughes.