After a decade of saving and investing more than half of their income, Justin and Kaisorn McCurry built a portfolio of $1.3 million, enough to support their modest lifestyle in retirement. Justin quit his engineering job in 2013 and retired at age 33. Kaisorn joined him in early retirement in 2016 at age 38.
Jim Cramer, CNBC’s “Mad Money” host and a prominent fixture among market commentators, on Monday said the market is enduring “a very serious correction,” underscored by the fact that there are few fundamental reasons for the market’s current downtrend. During CNBC’s “Halftime Report,” Cramer said notable is a slump in shares of so-called FANG names — the highflying quartet of Facebook Inc. (FB) Amazon.com Inc. (AMZN) Netflix Inc. (NFLX)and Google parent Alphabet Inc. (GOOGL)(GOOG) that are among the most influential on Wall Street due to their massive market values and the degree by which investors have piled into those investments for hope of consistent growth. All of those companies are in a corrective phase, defined as a drop of at least 10% from a recent peak, and Netflix and Facebook shares have shed around a third of their values since hitting 52-week peaks.
The dramatic decline has left investors wondering about the worst-case scenario for the industrial icon. As new Chief Executive Officer Larry Culp tries his hand at a turnaround, the possibilities span everything from a prolonged fight for survival to a swift journey to the junkyard. Revenue growth and profit margins might suffer, but GE would have a shot at regaining a higher credit rating and reflating its dividend, winning back investors.
Jim Cramer tells investors to steer clear of Nvidia's stock as it hovers near its 52-week lows.
PG&E's stock had slumped over 60 percent since the state's deadliest-ever wildfire broke out last week on fears that without help from California's government, the utility could go bankrupt should it eventually be found responsible. The fire destroyed the town of Paradise and has killed at least 63 people. California Public Utilities Commission President Michael Picker told Reuters on Friday that utilities must be able to borrow money cheaply in order to properly serve ratepayers.
‘From a markets perspective, it’s going to be interesting. Paul Tudor Jones, a hedge-fund luminary, said he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead on the back of the Federal Reserve’s apparent commitment to normalizing interest rates and buttressed by corporate tax cuts from the Trump administration. Speaking at an economic forum in Greenwich, Conn., a hotbed for hedge funds, Jones said the Fed faces real challenges amid “the end of a 10-year run” of economic growth that many anticipate will soon come to a screeching, cyclical end.
The night before, the New York Times had reported that Sheryl Sandberg, Facebook’s chief operating officer, worked behind the scenes to prevent the company’s board and the public from understanding the full extent of Russia’s misinformation campaign on the social network. The employees were used to the public microscope.
Saudi Arabia is loading fewer barrels on ships bound for the United States, a tactic that has boosted oil prices in the past. Sending less oil to the United States means U.S. crude stockpiles are more likely to fall, and shrinking inventories tend to push up oil prices. The move could spark a new conflict with President Donald Trump, who wants to drive down energy costs for Americans.
Nvidia Corp.’s stock plummeted Friday for its worst one-day drop in more than a decade, as a disappointing earnings report cost the graphics-chip specialist more than $23 billion in market capitalization. Nvidia (NVDA) shares closed down nearly 19% at $164.43 in heavy trading, and are now down 15% for the year. Shares closed at their lowest price since Sept. 8, 2017, when they finished at $163.69, and the company’s market capitalization finished the day just below $100 billion at $99.97 billion.
“I believe that the market has over-corrected for GE’s many faults, and at the current stock price, that it is significantly undervalued,’’ Aswath Damodaran, a finance professor at New York University, said Wednesday in an analysis on his website.
CannTrust Holdings Inc. said late Wednesday that it sold nearly as much recreational pot in September as Canadian cannabis rivals worth much more, and it is pursuing a listing on the New York Stock Exchange, pushing shares to large gains Thursday. The Vaughan, Ontario-based cannabis producer’s third-quarter earnings showed sales of C$500,000 in recreational pot, positioning it alongside large rivals with deep pockets such as Canopy Growth Corp. (CGC) , (CA:WEED) in the race to dominate the recreational-pot market that Canada kicked off less than a month ago. CannTrust (CNTTF)(CA:TRST) experienced early issues with supplying Canada’s recreational market with pot like other pot producers, but it was able to ship as much recreational weed as Aurora Cannabis Inc. (ACB)(CA:ACB) , which said Monday it moved about $500,000 of recreational product.
After months of tranquility that became the envy of equity investors, The biggest cryptocurrency roared back into the public consciousness this week with the biggest sell-off since August, another fork and a cameo in a major semiconductor earnings report. Bloomberg Intelligence says the drama’s just starting. Many of Bitcoin’s closest peers, including XRP, the cryptocurrency also known as Ripple, fell in tandem.
Sevens Report Founder Tom Essay on Berkshire Hathaway CEO Warren Buffett’s stock picks.
The sale marks another step in GE's planned $25 billion reduction in GE Capital assets, which were built up as the division financed sales of GE aircraft engines, locomotives, power plants and other products. GE Capital once supplied a large part of GE's profits, but the 2008 financial recession raised funding costs and nearly sank the entire company. GE's healthcare equipment unit makes medical scanners that can produce images of internal organs, bones and tissue.
It’s time to stop lumping Netflix Inc. (NFLX) in with the other FAANG stocks, Imperial Capital analyst David Miller wrote in a note to investors Friday. The FAANG stocks are a quintet of large-capitalization technology and internet companies widely followed by investors, comprising Facebook Inc. (FB) Apple Inc. (AAPL) Amazon.com Inc. (AMZN) Netflix and Alphabet Inc.’s Google (GOOG) They’re often lumped together, but Miller says it’s time to “decouple” Netflix from the rest of FAANG.
A case of tough love for Advanced Micro Devices (NASDAQ:AMD) just got a bit more difficult, as misery loves company in a challenging market environment. If investors can look smartly past the latest bear market warnings, it’s time to put AMD stock on the radar for buying. Blame it on Nvidia (NASDAQ:NVDA).
It’s not, and all we need to do is look at Micron Technologies (NASDAQ:MU) to realize it. MU stock has traded a low valuation for the last few years and yet, it was never a catalyst that pushed the stock higher. Of course, Micron stock has gone higher, but that’s only as the DRAM cycle held up better than many investors and analysts were expecting.
If but for one day, JCPenney (JCP) executives managed to prevent their badly beaten up stock crashing below $1.00 after another dismal quarter. Shares of the struggling department store indicated to open down an alarming 14% on Thursday after the company said same-store sales tanked 5.4% in the third quarter. Further, the company lost $151 million and it opted to pull its full year guidance to give new CEO Jill Soltau time to assess the business.
INSIDE SCOOP Francisco D’Souza, CEO and vice chair of (CTSH) (CTSH), has just placed a half-million-dollar bet on (GE) (GE). D’Souza, who has been a GE director since February 2013, bought 60,000 GE shares for $499,200, or an average
The embattled PG&E Corp. would face higher borrowing costs if its credit rating falls to junk following California’s deadliest and most destructive wildfire. Climate change has made wildfires the new abnormal in the region, but now the fires themselves may make it harder to fight climate change. California has approved a series of measures to rein in carbon emissions, and will need PG&E’s help to achieve many of its goals.
STOCKSTOWATCHTODAY BLOG More than nine of 10 investors are “bearish” or “very bearish” about (GE) according to a survey by (UBS) analyst Steven Winoker. That result—92% of respondents with gloomy views—isn’t much of a surprise given
CRYPTOWATCH On Wednesday, bitcoin, the world’s most famous digital currency, plummeted more than 10%, crashing through $6,000 and trading to its lowest level since October 2017. By the end of the session bitcoin (BTCUSD) closed down
Applied Materials Inc., the world’s largest maker of equipment used to manufacture semiconductors, confirmed an industry slowdown Thursday, but also said it will be more modest than past downturns. In a conference call to discuss the company’s fiscal fourth-quarter earnings and disappointing outlook, Applied Materials (AMAT) executives said that industry spending on manufacturing equipment will be lower in 2019 compared with this year, citing a pullback on spending on memory chips and macroeconomic conditions. Just on Thursday, Nvidia Corp. (NVDA) plunged more than 16% in late trading following its earnings report, which also seemed to cause a drop for rival Advanced Micro Devices Inc. (AMD) after Nvidia said it has a big backlog of inventory of its Pascal products.
Nvidia's stock is plunging on Friday after reporting a disappointing quarter and guiding to more trouble ahead amid unexpected inventory issues, damaging management's credibility in the eyes of the market. "Last quarter [CEO Jensen Huang] said 'we are masters at managing our channel', which turned out not be the case," Bernstein analyst Stacy Rasgon told Real Money. For one, Nvidia's high price to earnings ratio makes it somewhat prohibitive compared to peers like Intel Corp.
On Thursday in the lead up to the company’s third-quarter earnings report, Nvidia (NASDAQ:NVDA) investors were feeling pretty good. After a dismal forecast for Q4 that’s being blamed largely on a lasting “crypto hangover,” Nvidia stock was down as much as 19% in early morning trading, dipping under $165 at one point. Nvidia reported its Q3 earnings on Thursday evening.