Housing affordability hit its worst level in nearly a decade during the first quarter, according to Attom Data Solutions. Attom measures affordability by comparing average wages to median home prices to determine the share of income people need to spend on housing. Prospective buyers needed to shell out more because mortgage rates rose.
"Dividend Aristocrats" are S&P 500 stocks that meet certain minimum size and liquidity requirements and have at least 25+years of consecutive dividend increases. Through its flagship Walgreens chain and certain joint ventures, the company has a presence in more than 25 countries and employs over 385,000 people. WBA's 42 years of consecutive dividend increases qualify it as a Dividend Aristocrat, and the company appears positioned to deliver $5.95 of adjusted earnings per share for fiscal 2018.
Several tech giants still carry reasonable valuations -- at least after accounting for the impact of heavy near-term spending and/or business model transitions. Apple's revenue growth profile isn't as strong as that of some of the companies mentioned below -- the consensus is for Apple to see 14% revenue growth in fiscal 2018, but just 4% growth in fiscal 2019.
General Electric is moving closer to a deal to sell a unit that makes large industrial engines for $3 billion or more to private-equity firm Advent International. It would be a move that would bring in needed cash for the struggling conglomerate, according to Dow Jones. Chief Executive John Flannery is trying to sell $20 billion worth of assets by the end of next year.
She’s concerned her sister will end up carrying the can for the down paymentShe’s concerned her sister will end up carrying the can for the down paymentDear Moneyist,My sister lent our father the down payment to buy his home in Florida.Both their names
Filling your mind with pleasing images of retirement — what you’ll do, where you’ll reside — can divert attention from the daily grind. Counting the days until retirement gets easier if you’re used to priming your brain to work to your advantage. Joanne Waldman is director of training at Retirement Options, which certifies retirement coaches and offers retirement readiness assessments.
Jun.24 -- Xiaomi's IPO is priced at up to 29.3 times forecast earnings and its CFO says the company deserves such a premium. Bloomberg Intelligence's Vey-Sern Ling discusses the IPO on "Bloomberg Markets: Asia."
Big Oil’s fortunes are becoming tied more closely to natural gas than ever before. Majors including Royal Dutch Shell Plc and BP Plc have boosted their proportion of gas output in recent years, helping them trim Exxon Mobil Corp.’s lead as the world’s most valuable oil company. Meanwhile Chevron Corp. added two giant Australian liquefied natural gas projects and Exxon is punching back with two major projects of its own, in Papua New Guinea and Mozambique.
China has no plan to target U.S. companies operating in the nation amid escalating trade tensions, as that would run counter to Beijing’s goal of attracting foreign investments, South China Morning Post reported on Sunday, citing unidentified people. The policy makers sought to reassure foreign businesses in China amid fears that the Beijing government would retaliate for U.S. President Donald Trump’s proposed tariffs on Chinese goods by harassing American firms or depriving them of commercial opportunities, the Hong Kong-based newspaper reported, citing "two Chinese government sources." The option of targeting these business "has never been on the cards," according to one of the people. Goldman Sachs Group Inc. President David Solomon, United Parcel Service Inc. Chairman David Abney and Pfizer Inc. Chief Operating Officer Albert Bourla were among top executives at the meeting, according to the newspaper.
The health venture established by Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. will take aim at intermediaries in the health-care system as a part of a broad effort to reduce wasteful spending, the venture’s newly named chief executive officer said. The still-unnamed business will initially seek to develop ways to improve care for the more than 1 million individuals who get health insurance from the three firms. Over time, the venture will make those innovations available freely to other companies, meaning that if it’s successful, its effects could be felt more broadly among the more than 150 million people in the U.S. who get their health insurance through work.
There's no question that AT&T really, really likes it when customers sign up for DirecTV Now. It regularly touts the subscriber numbers, and it has lately offset troubles with the telecom's conventional TV business. A Hawaii News Nowinvestigation asserts that AT&T retail managers pressured staff into using unethical sales tactics for DirecTV Now.
Jun.24 -- The Shanghai Composite is teetering on the edge of a bear market as investors face the possibility of a U.S.-China trade war. Bloomberg's Divya Balji reports on "Bloomberg Markets: Asia."
After an initial mixed open, stock futures tumbled on Monday. Despite years of carrying excessive leverage, China opened up the lending spigots once more on Sunday. China's central bank said that starting July 5, it would cut its reserve requirement ratio for commercial banks and other savings institutions by half a percentage point.
Micron Technology Inc. (NASDAQ:MU) did it again. Strong earnings, and a stronger forecast from CEO Sanjay Mehotra, continued to power Micron stock upward, but bears won’t let it go past the fundamentals so the memory chip maker is still a buy. On June 20 Micron reported net income of $3.823 billion, $3.10 per share, on revenue of $7.8 billion for the quarter. This compares to earnings of $1.65 billion, $1.40 per share, and revenues of $5.56 billion a year ago.
The backlash against Silicon Valley is growing. Steve Ballmer, the former CEO of Microsoft, has some advice for the likes of Facebook and Google: Accept you've screwed up, and work with regulators to fix it. As Silicon Valley battles scandals and increasing regulatory scrutiny, Former Microsoft CEO Steve Ballmer has warned Facebook and Google not to make the same mistake Microsoft did.
Intel Corp. Chief Executive Brian Krzanich has resigned from the company effective immediately, the tech giant said Thursday, after he was found to have violated company policies through a past relationship with another employee. In a release, Intel (INTC) announced that an investigation by internal and external counsel found that Krzanich violated the company’s “non-fraternization policy” when he had a “past consensual relationship” with someone else at the company. Intel’s policy “applies to all managers,” the company said.
Is a Fannie Mae-Freddie Mac endgame finally in sight? For years, the two mortgage finance giants at the heart of the 2008 housing crisis have languished as wards of the state, stuck in federal “conservatorship” as Congress repeatedly failed to find a framework for a future housing finance system that would offer them a way out. First, a quick recap: Congress in 2012 specified that both companies would send their capital every quarter to Treasury, until they finally reached zero in 2017.
Shares of Caterpillar CAT closed up marginally on Friday, ending a streak of nearly two straight weeks of losses on the back of heightened trade war tensions between the U.S. and China. With that said, now might be the time for investors to consider buying Caterpillar stock based on its currently stellar valuation picture and strong growth prospects. Caterpillar has been one of the Dow’s worst performers during its recent downbeat stretch, which stands in stark contrast to its standing over the last few years.
Legendary hedge fund manager Paul Tudor Jones became famous after predicting the market crash of October 19, 1987, known as “Black Monday” when the Dow Jones dropped more than 22%. “The crash of ’87 was really interesting just because the crash of ’87 probably never would have happened except for, again, the market infrastructure at that point in time,” Jones said in a conversation with Goldman Sachs CEO Lloyd Blankfein as part of the firm’s “Talks at GS” series. Jones, 63, began his career at E.F. Hutton as a commodities trader in the cotton pits in 1976 before transitioning to macro trading and founding his hedge fund, Tudor Investment Corp in 1980.
Social interaction and communication skills can be a challenge for people with autism spectrum disorder, but companies looking to hire untapped talent for tech-related jobs are discovering that those with autism are unusually detail-oriented, highly analytical, and able to focus intensely on tasks, making them valuable employees. Last October, six companies—Ford Motor, DXC Technology, EY, Microsoft, JPMorgan Chase, and SAP—formed the Autism at Work Employer Roundtable to share best hiring and workplace practices and to help other companies see the return on investment in hiring autistic employees. One of the first companies to seek out autistic talent was SAP, a multinational software company that began hiring autistic employees to do software testing.
Opinion: Memory chip maker’s stock gains after it combats every doomsday scenario with results and forecastBloomberg News/Landov”The industry we operate within is structurally different than in the past,” Micron Chief Executive Sanjay Mehrotra said Wednesday. Micron Technology Inc. once again countered all the doubts surrounding its stock Wednesday, as executives forcefully contended that the current strength in memory markets is not just a cyclical upturn. Micron (MU) on Wednesday reported strong profit and sales gains with a forecast that showed confidence that demand for memory chips will continue, along with higher prices of those components.
General Electric is poised to sell off its industrial engine unit for at least $3 billion, The Wall Street Journal reported on Sunday. General Electric GE may sell a unit that manufactures industrial engines to a private equity firm, The Wall Street Journal reported on Sunday , as part of a wide ranging effort to revitalize the moribund manufacturing giant. The Journal, citing unnamed sources familiar with the matter, said GE could complete a transaction as soon as Monday that would be worth $3 billion or more.
Oil prices fell on Monday as traders factored in an expected 1 million barrels per day (bpd) output increase in the wake of an Organization of the Petroleum Exporting Countries (OPEC) meeting in Vienna last week. Despite this, analysts said global oil markets would likely remain relatively tight this year. Brent crude futures were at $74.25 per barrel at 0636 GMT, down 1.7 percent from their last close.
China's central bank said on Sunday it would cut the amount of cash that some banks must hold as reserves by 50 basis points (bps), releasing $108 billion in liquidity, to accelerate the pace of debt-for-equity swaps and spur lending to smaller firms. The reserve reduction, the third by the central bank this year, had been widely anticipated by investors amid concerns over market liquidity and a potential economic drag from a trade dispute with the United States. Expectations of a cut had risen after the State Council, or cabinet, said on Wednesday monetary policy tools including targeted cuts in banks' reserve requirement ratios will be deployed to strengthen credit flows to small firms and keep economic growth in a reasonable range.
Central banks should accept that reversing crisis-era monetary policy will be “bumpy” and shouldn’t delay doing so just for fear of upsetting financial markets, according to the Bank for International Settlements. Claudio Borio, who heads the institution’s economics department, urged policy makers to press ahead, both to address financial stability risks and to insulate their economies against the next downturn. The BIS is effectively a bank for central banks.