|Day's Range||2,926.05 - 2,936.83|
|52 Week Range||2,346.58 - 2,940.91|
From markets and mergers, to baseball and Beyonce, legendary value investor Mario Gabelli is in it all. He joins us now ahead of his value investor conference that's runs right before Berkshire Hathaway’s Annual Meeting next week.
(Bloomberg) -- Asian shares traded mixed on Thursday amid continuing signs of weak economies across the globe. The dollar steadied after reaching a four-month high.
Across the region’s major bourses, the Topix in Tokyo was up 0.6 per cent after the lunch break and the Hang Seng in Hong Kong had eked out a small gain. The moves followed a mixed bag of corporate updates that saw Wall Street take a breather on Wednesday after the S&P 500 and tech-heavy Nasdaq hit record closing levels on Tuesday. Brent crude, the international oil benchmark, pulled further back in early Asia trading on Wednesday before swinging back into positive territory.
Dow Jones futures: Facebook, ServiceNow, Microsoft and Lam Research were big earnings movers late, but Xilinx tumbled. Tesla and Chipotle were up and down.
Over the past 54 years, shares in his company, Berkshire Hathaway, have outpaced the S&P 500 — a broad index of American stocks — by almost 2.5 million percentage points. The degree to which Buffett has outwitted successive generations of Wall Street rivals almost defies comprehension. It is striking, then, that over the past decade Buffett has fallen behind.
Asian shares slipped on Thursday as a surprise deterioration in German and South Korean economic data rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. The Japanese yen weakened marginally to near 112 a dollar after the Bank of Japan kept policy unchanged at a review on Thursday but pledged to keep interest rates very low at least until early 2020. The euro steadied after slumping to a 22-month low of $1.114 to the U.S. dollar overnight, driven by a drop in German business confidence which highlighted the divergence between data in the euro zone and the United States.
To access a PDF version of this newsletter, please click here http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_04252019.pdf If you would like to receive this newsletter via email, please register at: http://financial-risk-solutions.thomsonreuters.info/india-morning FACTORS TO WATCH 5:15 pm: Axis Bank to announce quarterly earnings in Mumbai. LIVECHAT - BONDS UPDATE Reuters interest rate reporters delve into government bond markets at 5:00 pm IST. To join the conversation, click on the link: https://www.refinitiv.com/en/products/eikon-trading-software/eikon-messenger-secure-messaging/editorial-communities-financial-forums INDIA TOP NEWS • RBI steps up liquidity management to make rate cuts count The Reserve Bank of India's surprise announcement of new open market purchases of government bonds is a sign the central bank is stepping up efforts to increase the economic impact of its policy decisions, analysts say.
The futures market is moving back toward pricing in a full quarter-point Federal Reserve rate cut this year, even as U.S. and Chinese economic data show signs of improvement and American stocks rally to record highs. Luke Tilley of Wilmington Trust Investment Advisors and strategists at BMO Capital Markets interpret that as a sign the market has 1998 on its mind: That’s when the central bank pre-emptively lowered rates to keep events abroad from pushing the U.S. into recession.
Shares in Asia were mostly lower in afternoon trade, with Mainland Chinese stocks tumbling. U.S. stocks slipped from record levels on Wednesday as Wall Street digested a mixed batch of corporate earnings. The Bank of Japan is set to release its monetary policy statement later on Thursday, with interest rates expected to remain unchanged.
In a week when the S&P 500 hit an all-time high, the global chief market strategist at Cantor Fitzgerald boosted his year-end target for the benchmark to 2,500 from 2,390. The new forecast represents a 15 percent drop from the current level, still putting him as the most pessimistic among 25 strategists tracked by Bloomberg. Stocks have surged this year, sending the S&P 500 up 17 percent, as investors jubilate over a dovish Federal Reserve and bet a profit slowdown will be short-lived.
The payments pioneer grew its active accounts base by 15% in the first quarter. The company says it now has 277 million active accounts.
The Dow Jones Industrial Average fell 0.22% to close at 26,597.05. The S&P 500 lost 0.22% to end at 2927.27, and the Nasdaq Composite slipped 0.23% to close at 8102.01.
Stocks gave up an early gain to finish with modest losses Wednesday as investors continued weighing a steady flow of corporate earnings. Energy and communications companies took some of the biggest losses ...
Citrix Systems Inc. shares fell 4.6% in the extended session Wednesday after the company beat analyst earnings projections. The company reported first-quarter net income of $110 million, or 78 cents a share, compared with $144 million, or 99 cents a share, in the year-ago period. Adjusted for items such as stock-based compensation and changes to the U.S. tax code, earnings were $1.27 a share. Revenue rose to $719 million from $697 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $1.17 a share on revenue of $707.8 million. For the second quarter, analysts model earnings of $1.42 a share and sales $768 million. Citrix said it expects fiscal 2019 earnings of roughly $3.69 a share and revenue of $3.08 billion to $3.09 billion. Citrix stock has gained 4% in the past year, with the S&P 500 index rising 11.4%.
O'Reilly Automotive Inc. shares were falling 5% in after-hours trading on Wednesday after the auto parts retailer missed earnings expectations for the first quarter and delivered a weak profit forecast for the second quarter. The company reported net income of $321 million, or $4.05 a share, up from $305 million, or $3.61 a share, a year earlier. Analysts surveyed by FactSet had been modeling GAAP earnings per share of $4.67. O'Reilly's sales rose to $2.41 billion from $2.28 billion a year earlier and came in slightly below the consensus estimate of $2.44 billion. For the second quarter, the company expects EPS of $4.55 to $4.65, below the FactSet consensus of $4.82. Shares have gained 15% so far this year, as the S&P 500 has gained 17%.
Earnings are beating the Streets expectations but estimates going forward are tepid. Yahoo Finance's Julie Hyman, Adam Shapiro, Scott Gamm and Matt Miskin, John Hancock Investments Market Strategist discuss.