The Walmart (WMT) employee of the future will be focused more on customer service and much less on tasks like searching for a product in the stock room, according to CEO Doug McMillon. “There are things about retail that are not enjoyable,” McMillon said at an event on Tuesday hosted by the Economic Club of New York. Walmart employee restocks a shelf in the grocery section of a Wal-Mart Supercenter in Troy, Ohio.
Earlier this month, Boeing's (BA) market cap overtook General Electric's (GE) knocking the conglomerate from the top of the industrials sector for the first time in decades. It's been a tumultuous year for GE for sure, with the stock down more than 40% year to date, following poor earnings and its dividend cut and leaving investors wondering what to do now. Yet Boeing has been on just the opposite track, climbing more than 71% this year on healthy orders and upbeat earnings. And Boeing looks on track to close out the year with strength. Jefferies' Sheila Kahyaoglu reiterated a Buy rating on the stock today and raised her price target by $12 to $312, writing that she's confident that Boeing can
If the price of crude oil is rising, does that mean it's time to buy energy stocks? According to the Energy Information Administration, U.S. producers cranked out 9.62 million barrels per day in the week ending November 3. Meanwhile, the breakout in crude oil hasn't translated to higher prices for oil stocks.
Bank of America Merrill Lynch sees a scary good news-bad news scenario unfolding in 2018: A solid push higher in the first half followed by all sorts of potential trouble after. The S&P 500 would peak out around 2,863 in the scenario, or about 11 percent
Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio service, shares some of her top value investing tips and stock picks. Tracey has done podcasts on value stocks that were breaking out, so the chart isn’t the end all, be all, of value investing.
Walmart Stores Inc. (WMT) has been wheeling and dealing all year long. And with the market sending Walmart's stock to new heights as it seeks to its transform its business through deals, its eagerness to pull the trigger is unlikely to subside in 2018. "We are trying to mostly build the assortment, a customer is looking to us for not just value but they want to have a wide selection," Walmart's CEO Doug McMillon said in an interview with TheStreet. "We are focused on busy families, so moms are important—we want to make every day easier for busy families." That focus has been clearly on display of late. Walmart recently acquired Brooklyn, N.Y.-based Parcel for an undisclosed sum. Parcel offers
Bloomberg reported on Tuesday that Uber had paid hackers $100,000 to conceal an October 2016 data breach that exposed the personal information of 57 million users. The decision to cover up the hack was led by Uber's former chief executive, Travis Kalanick, and chief security officer Joe Sullivan, who has since been fired. The company demanded that the hackers sign nondisclosure agreements and then went on to disguise the payout fee as a "bug bounty," The New York Times reported.
It's no secret Amazon.com Inc. ( AMZN) is eyeing the pharmaceutical market, and Wall Street firm Cowen thinks the online giant should acquire Rite Aid Corp. ( RAD) to speed up its entrance. In a research note to clients, Cowen analyst John Blackledge argued that if the Seattle e-commerce stalwart were to open pharmacies in Whole Foods locations and on Prime, it could pick up market share gains at an accelerated pace if it bought the drugstore chain. "Our Cowen proprietary survey data suggests 67 percent of Amazon Prime members would purchase prescription drugs through Amazon if they were available," wrote Blackledge in the note covered by CNBC.
Have a Happy Thanksgiving! In the morning, earnings from Deere & Co. (DE) will be the main corporate highlight, with the economic schedule bringing investors the weekly report on initial jobless claims, the University of Michigan’s latest report on consumer sentiment, while the afternoon will see the release of the minutes from the latest FOMC meeting. Markets in the U.S. will be closed on Thursday for Thanksgiving and open just a half day on Friday.
Jim Cramer watches for one chart pattern that can tell you a stock is ready to skyrocket.
and Tencent, have each more than doubled. While some of the run-ups feel a little stretched -- particularly, Amazon, Netflix, Alibaba and Tencent's -- we're still generally well-removed from the nosebleed levels of the Dot.com bubble, and until events happen that lead investors to seriously question their sales and profit expectations for these companies, the odds of a giant selloff happening don't feel especially high.
San Francisco-based Salesforce said on Tuesday that it expected fourth-quarter adjusted profit of 32 cents to 33 cents per share and revenue of $2.80 billion to $2.81 billion. Demand for Salesforce's cloud-based services has soared as companies look to reduce data storage costs, but analysts said the company must offer new products to attract customers. "At this point, anyone who wants to use Salesforce already uses it, so without new offers, growth will be harder and harder to come by," said Adam Sarhan of investment advisory service 50 Park Investments.
AP Images Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. President Donald Trump told White House reporters on Tuesday that
As Royal Caribbean Cruises Ltd. RCL approaches the end of its Double-Double program, bookings are at record levels, dividends are at an all-time high, costs have been well managed and guest satisfaction has improved significantly. Consequently, the company’s shares have rallied 51.9% in the past year, as against the industry’s growth of 25.1%. The company has thus once again developed a multi-year period program named — 20/20 Vision — that leverages the culture and the discipline instilled by the Double-Double program while including a broader set of goals.
CNBC's Leslie Picker reports on Carl Icahn taking a 13% stake in Sandridge Energy.
Lockheed Martin Corp. LMT has won a modification contract to exercise an option for providing class services in support of the Littoral Combat Ship program. The contract includes foreign military sales (FMS) to the Kingdom of Saudi Arabia.Contract Details
TORONTO/SAN FRANCISCO (Reuters) - Struggling ride-hailing firm Uber [UBER.UL] faces a fresh regulatory crackdown after disclosing it paid hackers $100,000 to keep secret a massive breach last year that exposed personal data from around 57 million accounts. Discovery of the U.S. company's cover-up of the incident resulted in the firing of two employees responsible for its response to the hack, said Dara Khosrowshahi, who replaced co-founder Travis Kalanick as chief executive in August. "None of this should have happened, and I will not make excuses for it," Khosrowshahi said in a blog post.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple AAPL, Adobe ADBE, Anheuser-Busch BUD, Tesla TSLA and General Mills GIS. Today, Zacks is promoting its ''Buy'' stock recommendations.
Apple Inc AAPL CEO Tim Cook has been vocal about augmented reality (AR) for quite some time now. To boost its efforts, Apple has purchased Canada-based AR headset maker, Vrvana for $30 million, per a TechCrunch Report. Vrvana is best known for its Totem headset, which combines AR and virtual reality (VR) technologies.
The fate of a major patent reform law, enacted in 2011 to improve patent quality, will hang in the balance on Monday, when the U.S. Supreme Court hears a constitutional challenge to one of its key provisions. Since the law came into effect, patent challengers have filed more than 7,700 petitions to trigger the procedure, known as inter partes review (IPR), according to Unified Patents, resulting in the cancellation of more than 20,500 patent claims—components of a patent that can serve as the basis for a lawsuit. Most of these claims were, in fact, being asserted in litigation at the time the IPR petitions were brought—often against multiple defendants.
Meg Whitman, who oversaw the breakup of one of Silicon Valley's pioneering companies, is stepping down as the CEO of Hewlett Packard Enterprise Co. HPE said Tuesday that Whitman will hand over the reins of the company to its president, Antonio Neri, on Feb. 1. Whitman, 61, took over in 2011 at the former Hewlett-Packard Co., a company founded in 1939 and for years a tech bellwether.
It's been a banner year for some industrial stocks. Boeing (BA) has soared more than 70% in 2017, while Caterpillar (CAT) has climbed almost 50%, and Deere (DE), which released top-notch earnings today, has jumped 40%. And even Honeywell International (HON) is doing just fine: It's gained 30% so far this year. And then there's General Electric (GE). Yes, we all know that GE's in bad shape--it's 43% drop this year makes that obvious--but the question is how bad. In a note released yesterday, Deutsche Bank's John Inch contends it's bad enough that GE deserves to trade at a big discount: Overall, we believe GE should trade at a valuation discount given still aggressive accounting, cash flow pressures
As shares of aircraft manufacturer Boeing Co. (BA) gain over 70% year-to-date (YTD), while the S&P 500 has increased 16% over the same period, one team of analysts indicates that the stock is on track to finish out 2017 even higher. On Tuesday, Jefferies analyst Sheila Kahyaoglu lifted her price target on BA to $312 from $300, forecasting Boeing to grow earnings at a double-digit rate. She attributed her more bullish outlook to improved demand and productivity at the jet manufacturer. The analyst expects a pileup of commercial jet orders to lead Boeing to post deliveries up 6% annually over the next decade. (See also: Airbus, Boeing Land Over $75B in Aircraft Orders.) “We have increased confidence
Value investing is easily one of the most popular ways to find great stocks in any market environment. One way to find these companies is by looking at several key metrics and financial ratios, many of which are crucial in the value stock selection process. A key metric that value investors always look at is the Price to Earnings Ratio, or PE for short.
On Tuesday, Uber CEO Dara Khosrowshahi quietly announced that Uber had suffered a large data breach in 2016. The hackers gained access to the personal information of 57 million Uber riders and drivers, including the names and drivers licensees of around 600,000 Uber drivers. As we can see in this chart from Statista, Uber's incident was unfortunate, but relatively low impact compared to others that have occurred over the past few years.