|Day's Range||2,664.44 - 2,673.51|
|52 Week Range||2,532.69 - 2,940.91|
Google CEO heads to Capitol Hill, and CBS shareholders will be gathering in NYC on Tuesday.
Stocks fell dramatically Monday morning only to claw their way back. Yahoo Finance's Adam Shapiro, Seana Smith and Andy Serwer talk to Jimmy Lee, CEO of Wealth Consulting Group.
Boosting sentiment was President Donald Trump's tweet that the ongoing negotiations were "very productive" and a report China was moving toward cutting its trade-war tariffs on American-made cars. Trump also tweeted that an "important announcement" is imminent. The developments come as the two countries discussed a road map for the next stage of their trade talks.
U.S. stock futures march higher ahead of the opening bell, indicating Wall Street is ready to build on gains seen at the start of the week as the U.S. and China resume trade talks.
Cowen & Co. analyst Matthew Ramsay picked Advanced Micro Devices Inc. as one of his firm's best ideas for 2019, citing the company's move to 7-nanometer as an important catalyst. While Ramsay acknowledges that meaningful share gains take time, he argues that this lineup refresh would signify AMD's "first manufacturing advantage versus Intel " as well as the "continued execution of the company's strategic vision." He said that crypto-related woes make for a "difficult set-up" in the first half of next year, but those issues shouldn't preclude AMD from picking up share in other businesses, growing earnings, and improving its margin profile. AMD shares are up 3% in premarket trading Tuesday, and they've gained 94% so far this year. The S&P 500 has fallen 1.3% in that time.
Contracts on the Dow Jones, S&P 500 and Nasdaq indexes all jumped, shrugging off losses in the Asian benchmark after China was said to move toward cutting tariffs on U.S.-made cars. Miners and automakers advanced, helping the Stoxx Europe 600 Index extend gains as more than 90 percent index members climbed. The pound rallied as Prime Minister Theresa May asked European leaders to sweeten a Brexit deal, trimming some of its losses from a day earlier.
Global stocks rally higher as investors react cautiously to news of progress in U.S.-China trade talks but remain unsettled by political uncertainty in Europe. Huawei CFO Meng Wanzhou faces a third day of bail hearings in Vancouver as U.S. authorities seek her extradition on sanctions violation charges.
Barnes & Noble Inc. has put out its list of "best books of 2018," which includes "Becoming," Michelle Obama's memoir, and "Barracoon: The Story of the Last 'Black Cargo'," by Zora Neale Hurston. The list comes about a week after the bookseller pushed out its list of "best gifts," which only included one book. Others on the "best books" list include "Fire & Blood" by George R.R. Martin, the author of the books that the hit series "Game of Thrones" is based on, and "Unsheltered" by Barbara Kingsolver. Barnes & Noble has also released "best" lists in other categories including young adult and best history and current affairs. Barnes & Noble shares have gained nearly 5% for the year to date while the S&P 500 index has slipped 1.4% for the period.
On December 10, US crude oil January futures fell 3.1% and settled at $51 per barrel. The Energy Select Sector SPDR ETF (XLE) fell 1.6% on the same day.
The top 20 stock buyback programs in corporate America have spent $1.4 trillion buying back their own shares since the Great Recession ended. Most of the stocks being repurchased by company management have not outperformed the S&P 500. The bull market that began after the Great Recession has been propelled (in large part) by one factor: a stock buyback program.
Kohl's Corp. said Tuesday that it plans to open doors at 7 a.m. local time on Friday, Dec. 21 and remain open until 6 p.m. local time on Christmas Eve. Shoppers using the e-commerce site or app can choose free in-store pick up or have items delivered to their homes. Kohl's shares are up 1% in Tuesday premarket trading, and up 16.6% for the year to date. In comparison, the S&P 500 index has fallen 1.3% in 2018.
was bombarded with negative news. Reports swirled that the company was under investigation by the Securities Exchange Commission (SEC) and the Department of Justice. Questions about CEO Elon Musk's temperament arose after a series of controversial tweets.
Stocks jumped on Tuesday as investors clung to hopes of a detente in the China-U.S. trade war and picked through the rubble of conflagrations in other top economies, with heightened uncertainty over Brexit and French protests. A report China is moving to cut import tariffs on American-made cars drove European stocks to extend gains strongly as auto stocks jumped and the market interpreted this as a sign China is ready to make concessions on trade.
Pfizer Inc. shares slid 1.1% in premarket trade Tuesday, after JP Morgan downgraded the stock to neutral from overweight and said it's moving to the sidelines after a strong 2018. "We clearly have seen a positive shift in Pfizer's narrative, which is now focused on the re-acceleration of the company's top and bottom line growth beyond 2020 (where sales growth of ~5% is expected to exceed the group)," analyst Chris Schott wrote in a note. "However, with the company now trading in line with peers and the broader market, we see this improved core story as better reflected in valuation." Further upside for the stock is likely tied to additional pipeline success or positive new launch momentum, said Schott, both of which are unlikely before 2020. Schott said he remains constructive on big pharma, giving an ongoing product cycle. Pfizer shares have gained 22.6% in 2018, while the S&P 500 has fallen 1.3%.
Institutional Investor hall of famer Richard Bernstein is attributing the turbulent market swings on skittishness surrounding D.C. Beltway policies — not something critically wrong with economy. According to Bernstein, stocks should be reflecting a healthy economy right now instead of bouncing around correction levels.
Francesca's Holdings Corp.'s shares slid 4% in premarket trade Tuesday, after the women's clothing retailer swung to a loss as foot traffic to its stores slowed. The company said it had a net loss of $16.2 million, or 47 cents a share, in the quarter, after earnings of $0.2 million, or 1 cent a share, in the year-earlier period. Adjusted loss came to 17 cents, matching the FactSet consensus. Sales fell 10% to $95.4 million from $105.8 million, just ahead of the FactSet consensus of $95.1 million. Same-store sales fell 14% to match the FactSet consensus. "While we saw comparable sales declines start to narrow as we moved into the fourth quarter, we recognize the need to accelerate change and improve results faster," Chief Executive Steve Lawrence said in a statement. "Our biggest challenge and focus is to drive improved traffic trends in brick and mortar." The company is planning to step up markting efforts by investing in influencers and digital media. The company is also reviewing its real estate for underperforming stores which will be closed. It is now expecting fourth-quarter sales of $118 million to $124 million, assuming at 15% to 10% decline in same-store sales. it expects a loss per share of 14 cents to 7 cents. The FactSet consensus is for EPS of 18 cents and a same-store sales decline of 8.8%, leading to sales of $126 million. For the full year, the company is expecting sales of $427 million to $433 million, assuming a mid-to low teens decline in same-store sales. The company is expecting an adjusted per-share loss of 41 cents to 34 cents. The FactSet consensus is for a loss of 9 cents a share, a same-store sales decline of 12.7% and sales of $434.7 million. Shares have fallen 75% in 2018, while the S&P 500 has fallen 1.3%.
Global stocks climbed Tuesday, as investors awaited developments in trade talks between Washington and Beijing that kicked off with a phone call involving key negotiators. U.S. futures put both the S&P 500 and the Dow Jones Industrial Average on course to gain 0.6% at the New York open.
The Medicines Co. said Tuesday it has appointed Mark Timney as chief executive with immediate effect. Timney comes fo the job after stints at Merck & Co., and Purdue Pharmaceuticals, as well as Zeneca Group, ICI Pharmaceuticals and Roussel Labs. he will replace Clive Meanwell, who will serve as chief innovation officer. Shares were not yet active premarket, but have fallen 24% in 2018 through Monday's close, while the S&P 500 has fallen 1.3%.
The Buckle Inc. on Tuesday announced a special dividend of $1.00 per share, alongside its regular 25 cents a share quarterly dividend. The apparel and accessories retailer said the two payments will be made Jan. 25 to shareholders of record as of Jan. 11. Shares were not yet active premarket, but have fallen 21.4% in 2018, while the S&P 500 has fallen 1.3%.
(Bloomberg) -- S&P futures are following through from Monday’s bounce, getting an added jolt from a positive trade headline ("China Is Said to Move on U.S. Car Tariff Cut Trump Tweeted On") in addition to the German investor confidence data that beat expectations -- though in an indication that any and all positive signs are being fully embraced, it comes as the measure still recorded a negative measure of sentiment.
Discount shoe retailer DSW Inc.'s shares surged 16% in premarket trade Tuesday, after the company blew past estimates for its fiscal third quarter and raised its full-year guidance. DSW said it had net income of $39.3 million, or 48 cents a share, for the quarter, up from $4.01 million, or 5 cents a share, in the year-earlier period. Adjusted per-share earnings came to 70 cents, ahead of the FactSet consensus of 52 cents. Revenue rose to $833.0 million from $709.7 million, also ahead of the FactSet consensus of $795 million. Same-store sales rose 7.3% to top the 5.1% FactSet consensus. The company raised its full=-year adjusted EPS guidance to a range of $1.70 to $1.85 from a prior range of $1.60 to $1.75. It is now expecting revenue to grow 12% to 14% in the full year, compared with prior guidance of up 6% to 9%. Shares have gained 8% in 2018 through Monday's close, while the S&P 500 has fallen 1.3%.