|Day's Range||2,831.29 - 2,853.86|
|52 Week Range||2,346.58 - 2,954.13|
Cryptocurrency investors are looking to bitcoin as a safe haven investment, Tom Lee told Yahoo Finance’s On the Move.
Is now the right time for investors to get back into the markets? Yahoo Finance's Scott Gamm and Bank of America Merrill Lynch Global Research Head of ETF Strategy Mary Ann Bartels discuss.
Millennials are faring worse than previous generations. Yahoo Finance's Julie Hyman, Adam Shapiro, Sibilie Marcellus, Brian Sozzi and Sylvia Jablonski Direxion Media Managing Director discuss.
Shares of Kohl's Corp. plunged 10% toward a 16-month low in premarket trade Tuesday, after the discount retailer reported fiscal first-quarter earnings and same-store sales that missed expectations and slashed its full-year profit outlook. Net income for the quarter to May 4 fell to $62 million, or 38 cents a share, from $75 million, or 45 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share declined to 61 cents from 64 cents, below the FactSet consensus of 68 cents. Total revenue fell 2.9% to $4.09 billion, topping the FactSet consensus of $3.95 billion, while same-store sales fell 3.4% to miss expectations of a 0.1% decline. The company cut its full-year adjusted EPS guidance range to $5.15 to $5.45 from $5.80 to $6.15. "The year has started off slower than we'd like, with our first quarter sales coming in below our expectation," said Chief Executive Michelle Gass. "We are actively addressing the opportunities that impacted our first quarter sales and we have strong initiatives that will enhance our sales performance in the second half." The stock, on track to open at the lowest level since January 2018, has lost 5.2% year to date through Monday, while the SPDR S&P Retail ETF has gained 3.7% and the S&P 500 has advanced 13.3%.
Helen of Troy Corp. said Tuesday it was no longer pursuing a process to divest its personal care business, and has decided to continue to operate the business to help fuel investment in its leadership brands. "Given our strong cash flow and low debt leverage, discontinuing this process has no impact on our ability to make further acquisition or strategic share repurchases," the company said in a statement. Helen of Troy, which brands include Vicks, Braun and OXO, had previously announced the process on March 11. Separately, the company said it expects fiscal 2020 sales growth of 1.0% to 3.0%, while the FactSet consensus of $1.59 billion implies 1.9% growth. The stock, which was still inactive in premarket trade, has gained 5.0% year to date, while the S&P 500 has advanced 13%.
Merck & Co. Inc. said Tuesday it has reached an agreement to acquire Peloton Therapeutics Inc. for an upfront payment of $1.05 billion in cash. Peloton, a clinical-stage biotech focused on cancer treatments, was expected to price an initial public offering on Wednesday. The biotech's business hinges instead on two drugs that are designed to block a transcription factor called hypoxia-inducible factor-2 alphaαthat - among other things - regulates how the body responds to low oxygen levels. Under the terms of the deal, Peloton shareholders will be entitled to a further $1.15 billion in milestone payments based on the achievement of certain future regulatory and sales goals. "This acquisition exemplifies Merck's strategy to pursue novel therapeutic candidates based on exceptionally promising and innovative research," said Dr. Roger M. Perlmutter, president of Merck Research Laboratories. "Peloton scientists have applied their unique expertise in HIF-2α biology to develop PT2977, which has already shown intriguing activity in the treatment of renal cell carcinoma. We look forward to advancing this late-stage asset as part of our broad oncology R&D program." The deal is expected to close in the third quarter. Merck shares were not active premarket, bu have gained 34.7% in the last 12 months, while the S&P 500 has gained 3.9%.
Shares of Circor International Inc. rocketed 61% in premarket trade Tuesday, after industrial products maker Crane Co. said it proposed buying the technology products and sub-systems company in deal valued at $1.7 billion. Under terms of the proposal, Crane would pay $45 a share in cash for each Circor share outstanding, a 47% premium to Monday's closing price of $30.66. Crane said the proposal was made on April 30, and Circor rejected the bid on May 13. "While we had hoped to complete a transaction privately, the Board's rejection of our proposal without comment or discussion led to our decision to make our proposal known to Circor shareholders so they can express their views directly to the Circor Board," said Crane Chief Executive Max Mitchell. "We believe that this business, which has great brands and products, has been meaningfully undermanaged for years." Circor's stock has rallied 44% year to date, but was still down 41% over the past 12 months, while the S&P 500 has gained 3.9% the past year.
U.S. equity futures climbed with European stocks following a mixed session in Asia on Tuesday as the trade-war driven turbulence that has dominated markets this month showed few signs of abating. Contracts on the S&P 500, Dow Jones Industrial Average and Nasdaq 100 indexes all traded in the green after the U.S. granted limited relief for consumers and carriers using Huawei Technologies, a day after the White House’s moves against the Chinese telecom giant battered stocks. European shares also rose, with tech firms leading the advance.
Global stocks rebound following a move by the Commerce Department to ease restrictions on China's Huawei Technologies. Tech stocks gain on temporary reprieve for world's biggest equipment maker, but China's hit at reprisals, as well as the ongoing supply chain disruption, caps equity market gains. Oil edges higher amid ongoing concern over the escalating U.S. rhetoric towards Iran, with prices also supported by OPEC's signalling of extended production cuts.
Shares of Home Depot on Tuesday traded slightly higher in premarket trade after the home-improvement retailer reporter fiscal first-quarter earnings that were better than expected in profit and revenue. Net income for the quarter were $2.5 billion, or $2.27 a share, from $2.4 billion, or $2.08 a diluted share, in the same period a year ago. The FactSet consensus for earnings per share was $2.18. Revenue rose 5.7% to $26.381 billion, slightly above FactSet consensus for revenue of $26.378 billion, as U.S. same-store sales rose 3%, compared with expectations for a rise of 4.2%. The company reaffirmed its earnings outlook for fiscal 2019, with sales expected to grow 3.3% and sales comparable to a 52-week period to be up 5% (Last year was a 53-week calendar period, the company said). The retailer is slated to have a call to discuss results at 9 a.m. Eastern Time. Shares of Home Depot were up 0.3% premarket on Tuesday. The company's shares have gained 11.1% so far in 2019, compared with a gain of 10.1% for the Dow Jones Industrial Average , where it is a component, over the same period. The S&P 500 index has climbed 13.3% in the year to date.
Global equities recovered on Tuesday, helped by demand for technology stocks as investors refined their response to the trade tensions between the US and China. European bourses rose after a robust run ...
U.S. stock futures point higher for Tuesday, indicating investors could be willing to shake off trade-related losses that kicked off the trading week.
TJX, the parent company of TJMaxx, is the biggest of the off-price retailers, a segment of the industry that’s been more insulated against Amazon and other e-commerce incursions.
The S&P 500 hit a new high just three weeks ago, confirming that it’s still in a bull market. If only we could say the same thing about the Dow and other indexes.
Asian shares won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China's Huawei, although fears of a further escalation in tensions kept investors on edge. Financial spread-betters expect London's FTSE Frankfurt's DAX and Paris's CAC to gain between 0.3% and 0.5% when they open. China's blue-chip CSI300 index jumped 1.4%, a day after it fell to a three-month intraday low as Washington allowed Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19.
BEIJING (AP) — Asian stocks were mixed Tuesday after anxiety over U.S. restrictions on sales to Chinese tech giant Huawei pulled Wall Street lower.
The currency steadily appreciated after July 2005, when the Chinese authorities ended the currency’s peg of 8.3 to the dollar that had endured since 1995. A move above seven would have once been taken as an act of aggression by the Chinese authorities. Now there is also the possibility that it could be taken as a loss of confidence in China or economic weakness.
Cornerstone Macro's Carter Worth on whether stocks are running out of steam. With CNBC's Bob Pisani and Melissa Lee, and the Fast Money traders, Tim Seymour, Mark Tepper, Dan Nathan and Guy Adami.