|Day's Range||2,714.89 - 2,733.16|
|52 Week Range||2,532.69 - 2,940.91|
In October, investors started to get a sense of what the market will be like in 2019 — more concern, more volatility, and more talk about the end of the cycle.
Spectrum Brands Holdings Inc. shares plunged 17% in morning trade Monday, enough to pace all NYSE decliners, after the consumer products company reported fiscal fourth-quarter earnings that were well below expectations. The stock is currently trading at the lowest levels seen since August 2013. It is also on track to suffer the biggest one-day percentage decline since it plunged 27% on Dec. 13, 2012. Wells Fargo analyst Sam Reid reiterated his market perform rating on the stock after the "disappointing quarter" capped a "disappointing year," as operational issues "once again" weighed on performance. Reid said he applauds management for focusing on improving its balance sheet by cutting debt, but he said the company remains vulnerable to "transitory demand patterns," given its highly seasonal category mix and track record for supply chain hiccups. The company's brands include Black and Decker, Pfister and George Foreman. The stock has now shed 46% over the past three months, while the S&P 500 has lost 4.7%.
The Nasdaq 100 Index tumbled more than 1 percent on renewed concern that the trade spat will tamp down global demand and disrupt supply chains for major technology companies that have carried the bull market for almost 10 years. In addition, rising U.S. interest rates are pushing up financing costs and threatening global growth.
Consumer discretionary stocks rose 1 percent, on average, and traded positively 71 percent of the time during Black Friday week, according to CNBC analysis using Kensho. Amazon and Best Buy were the big stock winners during the shortened trading week, history shows. The shortened Thanksgiving trading week culminating in the big Black Friday shopping day is typically a good one for consumer stocks and certain retail names in particular, history shows.
U.S stocks opened the shortened week lower across the board on Monday. The Dow Jones Industrial Average opened down 80 points, the S&P 500 began the session down 0.2% and the tech-heavy Nasdaq Composite Index was down 0.6% at the opening bell. Investors continue to track trade tensions between the U.S. China and the ongoing plight of the U.K.'s departure from the European Union. In individual stocks, Nissan Motor Co. was in focus after Chairman Carlos Ghosn was arrested in Tokyo on Monday and Nissan said it intended to oust him from his post on the back of "significant acts" of financial misconduct.
A severe one-month decline in oil prices has historically set up a healthy bounce in the stock market and crude futures, according to investment bank Jefferies. West Texas Intermediate crude, the benchmark for U.S. oil prices, typically recovers 5.5 percent over the next month. A punishing rout in the oil market could portend a healthy bounce for stocks and crude futures if historical trends hold.
U.S. stocks opened lower on Monday as shares of Apple and its suppliers were hit by ongoing concerns of slowing demand for iPhones, while conflicting signals of a potential truce in the China-U.S. trade ...
Paul Tudor Jones, a hedge-fund luminary, says he’s stress-testing his portfolio of corporate debt because he expects a tumultuous road ahead for that market segment.
Cosmo Pharmaceuticals N.V.'s Aries Pharmaceuticals, Inc. said early Monday that its Aemcolo medication has been approved in the U.S. for traveler's diarrhea, making it the first antibiotic approved for the condition in more than a decade, according to the company. The product, a formulation of the antibiotic rifamycin that is delivered to the colon for traveler's diarrhea caused by E. coli, will be available in pharmacies in the first quarter of next year. You can probably guess what the symptoms of traveler's diarrhea are; the condition isn't usually serious when it happens to healthy adults but "can certainly make for an unpleasant trip," according to the Centers for Disease Control and Prevention. Cosmo Pharmaceuticals shares were up 4% on Monday; shares have dropped nearly 6% over the last three months, compared with a 4% drop in the S&P 500 and a 1% decline in the Dow Jones Industrial Average .
French carmaker Renault saw its share price tank after partner Nissan accused its chairman of serious misconduct and announced plans to oust him. NISSAN BOSS: Nissan Motor Co.'s chairman Carlos Ghosn is to be dismissed after the company said an internal investigation found he under-reported his income by millions of dollars and engaged in other "significant misconduct." The Yokohama-based company, one of the world's largest automakers, said the violations were discovered during an investigation over several months that was instigated by a whistleblower. The announcement came after Japanese stock markets had closed so there was no impact on Nissan's share price.
In September, energy services including the electricity and utility (piped) gas service, had a relative importance of 3.4% to the US CPI-U (Consumer Price Index for All Urban Consumers), according to the Bureau of Labor Statistics. From 2003 to 2004, gas (piped) and electricity had a relative importance of 4.2% to the US CPI-U.
Compass Minerals International Inc. said Monday Chief Executive Fran Malecha will step down, effective immediately, after nearly six years in the role. The essential minerals company said the decision was made by mutual agreement between the board of directors and Malecha. The company named Lead Independent Director Dick Grant interim CEO until a permanent CEO is named. Malecha joined Compass Minerals as CEO in January 2013. "The board remains committed to achieving best-in-class operational efficiency in our Salt business to maximize its cash generating capabilities and investing in our higher-growth, global Plant Nutrition business," Grant said. We are now moving forward with a keen focus on execution in order to ensure we can drive value from these investments and deliver sustainable, long-term value creation for our shareholders." The stock, which was still inactive in premarket trade, has tumbled 27% year to date, while the S&P 500 has gained 2.3%.
Shares of Babcock & Wilcox Enterprises Inc. rose 4.3% in premarket trade Monday after the energy and environmental technologies company said Chief Executive Leslie Kass is leaving the company after just 9 months in the role "to pursue other opportunities." The company has named Kenny Young as its new CEO, effective immediately. Young will also remain president of B. Riley Financial Inc. Separately, the company said Lou Salamone, most recently with CityMD, was named executive vice president of finance, with the expectation that he will become chief financial officer, to succeed current interim CFO Joel Mostrom. "The executive changes put in place a proven leadership team with a combination of turnaround expertise and power industry experience and are intended to unlock value from B&W's various segments and lead to increased shareholder returns," the company said in a statement. the new management team was granted equity awards that will begin to vest when the price of B&W's stock reaches $2.25, which is 162% above Friday's closing price of 86 cents. The stock has plunged 85% year to date through Friday, while the S&P 500 has gained 2.3%.