Deutsche Bank and UBS acted as joint book running managers for the offering.
Ivanka Trump must testify in a dispute with an Italian shoemaker over one of her company's shoe designs, a judge said Friday. U.S. District Judge Katherine Forrest rejected a request by the senior White House aide's lawyers that she be blocked from submitting to a deposition in the trademark infringement lawsuit brought by Aquazzura Italia SRL against her and her company IT Collection LLC. The Florence, Italy-based company sued President Donald Trump's daughter last year, saying her Hettie shoe was a "virtually identical" knockoff of its popular Wild Thing Shoe, including nearly the same color, shape and tassel on the heel.
Biotech stocks have been soaring over the last few years due to an uptick in innovation and a growing demand for healthcare services across the board. As a result, valuations across this high-flying space have ballooned -- making it increasingly difficult to suss out attractive bargains. Having said that, the top biotechs Celgene Corp. (NASDAQ:CELG) and Gilead Sciences (NASDAQ:GILD) are the rare exceptions to this general trend. Read on to find out why these two biotech titans might be compelling buys right now. Celgene's cellar-dwelling valuation might be a once-in a lifetime buying opportunity Celgene's industry-leading sales growth has apparently fallen on deaf ears of late. The company's
At just 27 years old, the blogger behind the Money Wizard — who goes by the pen name Sean online — has banked more than $181,000. "Probably what's most driving me [to retire early] — I just want freedom," he told Business Insider. Ultimately, Sean's philosophy for building wealth is based on calculating the value of his time, in dollars.
Warren Buffett's top lieutenant, Charlie Munger, told a small group of investors that the simple strategy of buying only service company stocks made former Vice President Al Gore very wealthy. "Al Gore has come into you fellas business. Hedge fund manager Whitney Tilson in one of his email newsletters pointed to the YouTube videos of Munger's informal question-and-answer session held after the Journal meeting, and other investors have confirmed the subject matter of the talk.
You can add another 20 Sears and Kmart stores to retail’s graveyard. Sears Holdings shld is closing another 20 locations on top of recently announced shutterings, bringing to total store closures to 260 this year for the struggling retailer which is trying unsuccessfully to stanch years of sales declines. The latest closures include 18 Sears stores and two Kmart locations, according to a regulatory filing on Friday by real estate investment trust Seritage Growth Properties, which was spun off by Sears in 2015.
Here are 5 stocks added to the Zacks Rank #5 (Strong Sell) List today:Zumiez Inc. ZUMZ is a specialty retailer of apparel and footwear.The Zacks Consensus Estimate for its current year earnings has been revised 12.3% downward over the last 30 days.VeriFone
John Oliver is being sued by Bob Murray, a coal CEO and the target of Oliver's latest story about issues in the coal industry.
The Great Restructuring in retail continues. In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the end of the summer. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing
A "high-level view is in order" of chipmaker Advanced Micro Device's (AMD) fight against Intel (INTC) for server chips, Rosenblatt Securities Hans Mosesmann wrote on Friday. He reiterated his "Buy" rating on AMD's stock with a price target of $20 per share. Mosesmann called out his colleagues on the street for failing to give AMD credit for what it had accomplished when it unveiled its "Epyc" server microchip. "Firstly, the amusing consensus view the day after the EPYC launch on the 20th is that it is a solid product (enough to gain some incremental share), and that only time can tell how it all plays out as Intel (INTC: Sell) responds," he noted. The chip will be very additive to value, Mosesmann
You'd think that investors would have trading on corporate earnings down to a science by now. Think again, says Goldman Sachs. Investors are frequently ill-positioned for the preannouncements companies often make leading up to their scheduled earnings releases, Katherine Fogertey and the Goldman derivatives team wrote in a client note on Thursday.
Ann Coulter, 'In Trump We Trust' author and columnist weighs in on violence from the left wing against Republicans and the GOP health care plan.
United States Steel (X) and AK Steel (AKS) have tumbled this year on falling steel prices, while U.S. Steel threw in some awful earnings as well. But is it time to buy? Illustration: Agence France-Presse/Getty Images It might be. Deutsche Bank's Jorge Beristain and team upgraded both stocks today, and it's not because anything has changed with the company fundamentals--they leave their price targets unchanged--but because of their massive declines. They explain: YTD (through May) US apparent steel demand has increased 4% YoY, highlighting underlying strength in the economy, but imports have surged 14% over the same period. Sector level trends remain positive, with Construction and Automotive
Strategists at Bank of America Merrill Lynch are skeptical that higher demand would be the solution. "While most investors blame supply for today's low oil prices, demand has also failed to improve at the speed required to rebalance the global oil market. Looking into 2H17, we now doubt that demand growth will accelerate sufficiently and see downside risks to our forecasts of 1.3 million b/d in both 2H17 and 2018.
The proposed merger between Rite Aid (NYSE:RAD) and Walgreens Boots Alliance (NYSE:WBA) will come to a vote at the Federal Trade Commission next week and likely faces a lawsuit seeking to block the deal, according to a report. The Capitol Forum, a D.C.-based firm, reported on Thursday that the acting director of the FTC’s Bureau of Competition has recommended a lawsuit, backing staff recommendations. Walgreens and Rite Aid declined to comment.
E-commerce is one of the hottest business segments in the world, and China’s biggest player is our Zacks Bull of the Day, Alibaba Holding Group (BABA). In their most recent reported quarter, the company saw sales of $5.605 billion, which was an increase of +60% year over year. And this amazing sales growth is expected to continue to expand for the foreseeable future. This Zacks Ranked #1 (Strong Buy) operates online and mobile marketplaces in retail and wholesale trade, as well as cloud computing and other services.
Bitcoin burst into our financial consciousness like a fiery comet, setting the internet ablaze with visions of upending the existing global money system. Yet, by its nature as a cybercurrency, whose legitimacy only exists in the ether, its credibility leaves much room for debate. HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be even remotely relevant. The current value of all the bitcoin BTCUSD, -3.07% in the world is worth about $41 billion, according to the cost-estimating website. That is undoubtedly more money than most Americans will ever see in their lifetime. But when
In response to some growing concerns about the strength of General Electric's (GE) dividend, Morningstar analyst Barbara Novorini took a look and happily reports this week that it looks secure. First, she dispenses with concerns that GE's industrial business is eating up a lot of cash. Quarter-to-quarter cash flows in GE’s industrial businesses can be very lumpy, and industrial free cash flow is often back-half loaded. This, combined with an additional $1 billion of structural cost outs and better working capital management gives us line of sight to industrial free cash flow in 2017 just over $9 billion, enough to cover approximately $8 billion of common stock dividends without help from GE Capital.
The S&P 500 had a sideways session during the day on Thursday, as we continue to find support near the 2425 handle. I believe that ultimately this market will rally, because quite frankly it is a strong uptrend that we have been in. However, there’s not
By Victoria Bryan and Tim Hepher PARIS (Reuters) - Boeing won a race for new business at the Paris Airshow, rolling out a new model of its best-selling 737 airliner that helped it claim back the order crown from rival Airbus After a show in which both manufacturers did brisk business under a sweltering sun, the European planemaker said on Thursday it had won 346 net new orders and commitments - including a last-minute order for 20 - while U.S. rival Boeing reached 571. "The MAX stole the show," Ihssane Mounir, vice president of sales and marketing at Boeing's commercial aircraft division, said. "This is probably one of our busiest air shows." Combined orders were stronger than expected and edged past the total from the same show two years ago, but were well below a 2011 order blowout when Airbus alone managed a similar tally.
It's officially summer, which means that throngs of recent college grads will spend the next few months hunting for their first post-scholastic job. As they consider the best places to make use of their skills and pay their bills, they might want to look
"I believe non-dividend stocks aren't much more than baseball cards. They are worth what you can convince someone to pay for it." -- Mark Cuban In a lot of ways, Cuban is obviously right. Markets will soar and markets will plunge, but owning dividend stocks means you have a more stable company that pays you consistently -- and that's worth a lot more to many investors. Here's one unloved high-yield dividend stock with a brighter future than many think in General Motors (NYSE:GM) and a mostly overlooked dividend juggernaut in Stanley Black & Decker, Inc. (NYSE:SWK). Peak Auto? So what? Addition by subtraction is a real thing. In this case, General Motors has done a phenomenal job minimizing or
Oil rose on Thursday, a day after hitting 10-month lows, but market sentiment remained negative because the global crude glut has persisted despite OPEC-led output cuts. Brent crude futures (LCOc1) ended 40 cents higher to $45.22 a barrel, after falling as low as $44.53. U.S. crude futures (CLc1) ended up 21 cents a barrel at $42.74 a barrel.
According to Bank of America Merrill Lynch strategists, a rise in millennial participation in the market could be a sign of the top. The chart shows that among various asset classes, the widest allocation gaps between millennials and older investors are in alternative investments, which the 18-34 demographic prefers, and in stocks, where millennials could play catch up.
Jack Ma, Founder and Executive Chairman of Alibaba Group Holding, addresses the media during the inaugural Gateway ’17 event at Cobo Center in Detroit, Michigan, U.S., June 20, 2017. “China is shifting from exporting to importing,” Alibaba CEO Jack Ma said in Detroit on Wednesday. Ma said this during Gateway ’17, the e-commerce giant’s biggest public event in the US, where he addressed 3,000 small business owners and urged them not only to import from China, but also to sell to China.