|Bid||150.10 x 800|
|Ask||0.00 x 900|
|Day's Range||148.38 - 150.72|
|52 Week Range||105.94 - 154.36|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||15.54|
|Earnings Date||Oct 16, 2019|
|Forward Dividend & Yield||6.48 (4.33%)|
|1y Target Est||148.53|
Raleigh-based wearables innovator Valencell has a new chief financial officer – and she comes straight from Red Hat Tower.
Trading in the stock market is all about timing. But investing in it is more about finding concepts that will be captivating for years to come. We currently have several of those that are sure to stick around for at least 10 years. Today, we will examine three hot stocks Amazon (NASDAQ:AMZN), Uber (NYSE:UBER) and IBM (NYSE:IBM) for the role they will play in shaping our future and our investment portfolios along the way.First is retail, which as a sector is struggling but within that there are stars that are causing the rest to struggle. These are winning stocks that will continue to win for as long as people need to buy and need their services. In that category today we have two stops to consider: Amazon and Uber. These are two companies that will continue to shape the future of how humans conduct their daily lives.Also today we will dissect the role that machines will play in the way we evolve. Artificial intelligence is a term we throw around these days, but this is a technological term that has lingered for decades. It is only now coming into the mainstream, so it's safe to say that its best days are ahead.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOnce it takes hold, the AI trend will not digress. Humanity will continue to test the limits of what machines can do. And if the experts are correct, machines will then join the process of building their own successors that are even better than them.Meanwhile, next to UBER and AMZN, IBM has been leading AI for decades already. So it is safe to assume that they will continue to lead in this category.Today, the market is near its all-time high and it's easy to be scared out of fears of a correction. But Amazon, Uber and IBM are safe long-term, Warren Buffet-style bets. This is hard to do in this age where instant gratification is a way of life, but it's the right thing to do. * 10 Stocks to Buy From This Superstar Fund So if I buy any of these stocks today, I don't expect to get rich by tomorrow or next week. These are stocks to own through thick and thin as we work through this battle between bulls and bears over the next few hundred S&P points. Amazon (AMZN)AMZN stock is a beast that has decimated all the those who dared short it in its early days. So this is the picture-perfect long-term winner stock to own through thick and thin.Since it never stopped growing, it can retain is brand of a hyper growth stock. If the stock market is higher ten years from now then Amazon stock will definitely be at the top of the charts. Year-to-date, AMZN is up almost 40%. And in five years it is up 545%, which is ten times more than the S&P 500.They have completely changed the ways the world shopped. Along the way, they also change a few other industries even in tech. They beat out giants like Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL). Amazon's AWS now dominates the proverbial cloud that runs almost everything online.Only in hindsight and in the future will we find out what else they will have in store for us. Under the leadership of CEO and visionary Jeff Bezos that is an awesome and bankable team. Amazon stock has no limits for as long as these are facts.There will be rough patches for the next few weeks as the FANG gang report earnings but we are not sniping for perfect entry points today. This is a fast moving stock and it will cause elevated levels of anxiety if monitored too closely. Uber (UBER)Source: Shutterstock If we listen to the critics of the IPO earlier this year, UBER is not an obvious choice for the long term, but that is short-sighted. Yes, the process of going public wasn't ideal, but this was a gigantic unicorn that had no template of how to do it.Since then, management has not disappointed. They are focused on their own business unaffected by the media coverage and criticism. In spite of the doubters, Uber is definitely a hot stock to buy for the next decade. In its short life, it managed to disrupt and completely change the way people moved. This is a global statement, meaning it's not only in one region. This is a formidable effort and a team that can accomplish that is definitely one I want to join.Moreover, there are tons of doubters who point out margins as a detriment to Uber's future. But just like AMZN in its early days, UBER has to spend money to grow, especially if it wants to continue to change the world. The proof of concept is that are Uber Eats and Uber Freight. These are the first two ways it differentiates itself from the competition like Lyft (NASDAQ:LYFT). * 7 5G Stocks to Connect Your Portfolio To UBER is not solely in the business of moving people anymore. This will become only but a small portion of their overall revenues. I see them dominating several verticals much like Amazon. It is difficult for many to see this now, but it will soon become clearer as other verticals, especially Freight, will grow and surpass the original concept. There is no limit to what they can do next and that alone is reason to hold UBER -- the hottest stock to buy for the next decade. IBM (IBM)Source: Shutterstock I've been a critic of IBM's management for operational reasons. It still hasn't adapted to the new world order in the new tech world. It keeps talking the talk, but the earnings scorecards continue to disappoint.But I still think IBM is a hot stock to own for the next decade despite my frustrations in their results. I still see an opportunity for it to shine bright for years to come. But unlike AMZN and UBER, my hope for IBM is one on what new ventures will come from them, not from what is already visible now. Meaning, this is more of a speculation than clear path. So in essence, I am giving this ancient tech giant the benefit of the doubt one more time.For as long as I can remember, IBM has impressed the world with its feats in the world of artificial intelligence. But the topic had been left to the science world not the practical one. But these days the term AI has become mainstream, so maybe it's time for IBM to finally shine on Main Street.How it will monetize this is unclear, but consensus is that business will absolutely need to use AI not as a novelty feature, but one that they need to survive. Since IBM is already the face of the sector, I have to assume that they will play to be a contender, if not the dominant player much like AMZN is in the cloud today.IBM stock, in spite of a nice earnings rally, is still more than 30% off its all-time highs. This plays in its favor, since it won't seem bloated and ready to fall to most investors. So it is free to meander higher in the short term. But just like AMZN and UBER stock, this bet is on the next ten years, not ten days. I am eager to see how this prior behemoth can recover old glory.It might need a new CEO to do it. I believe that Ginny Rometty has had enough chances to prove that she is the right person for the job without getting the job done. A fresh mind at the helm could be the change IBM stock needs to make the leap higher. My bet in it today is not contingent on this happening, but it would cause a spike to serve as a nice short-term booster.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy From This Superstar Fund * 7 Stocks to Buy This Summer Earnings Season * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk The post 3 Hot Stocks to Buy for the Next Decade appeared first on InvestorPlace.
CAMBRIDGE, Mass., July 23, 2019 /PRNewswire/ -- IBM (NYSE: IBM) Security today announced the results of its annual study examining the financial impact of data breaches on organizations. According to the report, the cost of a data breach has risen 12% over the past 5 years1 and now costs $3.92 million on average. The financial consequences of a data breach can be particularly acute for small and midsize businesses.
Trump said the White House is going to take a close look at the contract after receiving complaints from "great companies."
(Bloomberg Opinion) -- Earnings season kicks into high gear this week, and expectations are low. Profits for the second quarter are expected to be little changed to lower from a year earlier amid the escalating trade wars and a slowing economy. Sentiment expressed in public communications by the biggest U.S. companies slumped in June to the lowest level in at least a year, according to Goldman Sachs. That sounds like a perfect time to be a contrarian.With the exception of Elon Musk and a few others, CEOs tend to be fairly reserved when discussing the outlook for earnings. They certainly want to exude confidence, but they also don’t want to set unrealistic expectations. That way they can be seen as heroes when results exceed estimates in a game known as “underpromise and overdeliver.”So when it comes to insight into performance, it pays to look at what CEOs are truly doing rather than what they are saying. And in that regards, Jim Paulsen believes U.S. businesses are in better shape than company executives are letting on judging by the level of dividend payments, which increased 7.5% on a per-share basis from Sept. 30 through Friday, Bloomberg News reported, even though profit rose only 1.1%. International Business Machines Corp., Molson Coors Brewing Co. and Stanley Black & Decker Inc. are among the members of the S&P 500 that have incraesed their dividends in recent weeks. Who is Jim Paulsen? Following the stomach-churning performance of stocks in the last quarter of 2018, during which the S&P 500 Index tumbled as much as 19.3%, few strategists were willing to declare that the bottom had been set. One who did was Leuthold Group’s Paulsen. In a research note dated Jan. 3, when the S&P 500 closed at 2,447.89, he wrote that with a little investor optimism, a dovish Federal Reserve and an economy that avoids falling into recession, the S&P 500 could soar to 3,000 for the first time.The S&P 500 did top 3,000 this month, much sooner than most anyone on Wall Street expected. So what does Paulsen think now? He says investors are likely to be pleasantly surprised by what they hear from corporate executives in coming weeks, helping to support equities. He bases that on the fact that companies continue to raise dividend payments despite recent listless profitability.Paulsen points out how the current period contrasts with the early 2000s and early 2008, when dividend increases came to a halt as profit growth stalled. More important, when S&P 500 earnings declined during 2015-16, companies continued to raise dividends and earnings ultimately began to advance anew. “Although corporate CEOs are expressing anxieties, they are ‘acting’ confidently, suggesting they continue to expect satisfying earnings results in the coming year,” Paulsen says.Are company executives in denial? Outside of metrics tracking the consumer, there are no shortage of indicators showing that the escalating trade wars are acting as a drag on the economy. The Federal Reserve Bank of Atlanta’s GDPNow index, which attempts to gauge economic growth in real time, is tracking at a weak 1.61% rate; it was above 4% this time last year.And in a Friday report, Goldman economists outlined findings drawn from 4,000 earnings and conference call transcripts by S&P 500 companies over a year that showed a “sharp increase in negative mentions” of growth. International relations, including references to foreign countries and trade, were less prominent than other topics, but negative words had surged “and appeared responsive to the slowdown in global growth and continued escalation of trade tensions.”There’s no reason to suspect the trend won’t continue this earnings season. But with profits forecast to drop 2.7% from a year earlier for members of the S&P 500, that’s to be expected. Otherwise, executives would open themselves up to criticism that they are out of touch with reality. That’s why it’s more important to watch what CEOs do this earnings season, rather than what they say.To contact the author of this story: Robert Burgess at firstname.lastname@example.orgTo contact the editor responsible for this story: Daniel Niemi at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Robert Burgess is an editor for Bloomberg Opinion. He is the former global executive editor in charge of financial markets for Bloomberg News. As managing editor, he led the company’s news coverage of credit markets during the global financial crisis.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
For many on Wall Street, IBM (NYSE:IBM) is a large-cap tech has-been. But following last week's earnings beat that view is looking shortsighted both off and on the IBM stock chart. Let me explain.Source: Shutterstock This past Thursday was a very good day for IBM shareholders. Shares finished the session up 4.55%. More important, Thursday offered strong support for investors looking at the established technology giant with fresh interest on the heels of the company's Q2 earnings report.By the numbers IBM delivered non-GAAP earnings of $3.17 per share which topped Street views of $3.06. Sales of $19.16 billion for the period matched consensus estimates while falling 4% year-over-year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn of itself, the mixed results aren't going to win over investors. But a closer inspection of IBM's revenues and it's just completed acquisition of Red Hat (NYSE:RHT) point to an emerging growth story as an important pivot from computer hardware sales into software and the cloud market which should prove a boon for IBM's shareholders. * 7 Defense Stocks to Buy to Fortify Your Portfolio What's more, if we switch from Big Blue's business prospects over to the price chart, the view for IBM stock's longer-term prospects looks very promising as well. IBM Stock Weekly Chart Click to EnlargeAs discussed late last month, the past few years have seen IBM stock's fortunes languish after establishing an all-time-high in 2013. Since then shares have witnessed two major periods of corrective price action. The good news is that, taken together, the price action has formed a very large and constructive-looking double bottom base.Now and with IBM's post-earnings reaction breaking above angular resistance and the 62% retracement level into the right side of pattern base, shares are in strong position to continue rallying and eventually break out to new highs.The other reality is I don't anticipate IBM stock will completely transform itself. Price momentum similar to Amazon (NASDAQ:AMZN) isn't a reasonable expectation. But could a rally similar to the run Microsoft (NASDAQ:MSFT) has enjoyed the past couple years emerge? Possibly. But first things first. The IBM Stock TradeWith shares roughly 4% to 5% above April's pivot high and angular resistance, IBM stock is in a buyable, non-extended position. But I wouldn't buy shares just yet. With stochastics overbought on the monthly, as well as weekly and daily time frames, waiting to go long IBM on a very likely pullback towards support is the favored strategy.For now, I'd put IBM on the buy watch list and monitor shares for profit-taking towards or ideally into the area in between $140 and $144.Should IBM's price action cooperate, using the weekly time frame to confirm a fresh higher low candlestick within the right side of base is how I'd buy shares. For risk management, using the newly-formed pivot low as a stop-loss or a blended technical and dollar-based exit below $137 to keep exposure off and on the price chart acceptable-looking makes sense.Disclosure: Investment accounts under Christopher Tyler's management do not currently own positions IBM stock or its derivatives or any other securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional options-based strategies, related musings or to ask a question, you can find and follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Defense Stocks to Buy to Fortify Your Portfolio * 10 High-Flying, Overvalued Stocks in Danger of Crashing * 8 Stocks to Buy That Are Growing Faster Than Amazon The post Earnings Show It's Time to Buy IBM Stock on a Pullback appeared first on InvestorPlace.
U.S. equities continue to march higher, with the Dow Jones Industrial Average continuing to hold above the 27,000 level, despite taking a dive into the close.Investors have a lot to chew on, with the second-quarter earnings season rolling on ahead of the July Federal Reserve policy decision -- where interest rates are expected to be cut by 0.5% according to the futures market.Sure, there are many reasons to still feel nervous including the ongoing U.S.-China trade spat and simmering tensions with Iran in the Persian Gulf. But for now, the focus is on how many companies -- especially in the technology sector -- are continuing to deliver solid results. Well, for the most part.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 High-Flying, Overvalued Stocks in Danger of Crashing A number of stocks in the sector are making big moves after reporting numbers. Here are four worth a look: Big Tech Stocks to Watch: Microsoft (MSFT) Click to Enlarge Microsoft (NASDAQ:MSFT) shares tested to a new high above the $140-a-share level today after reporting a top- and bottom-line beat as its cloud services business continues to build momentum.Revenue grew 12% to nearly $34 billion as grows margins expanded to a whopping 69.1%. Breaking it down by sector, productivity and business processes grew 17% in constant currency while intelligent cloud sales grew 21% from last year.While not as snazzy as its younger competitors, Microsoft's steady performance has earned it the position of the world's largest publicly traded company with a $1.07 trillion valuation and a price-to-earnings (P/E) multiple that still seems reasonable. EBay (EBAY) Click to Enlarge EBay (NASDAQ:EBAY) shares are returning to levels last seen in early 2018 as the bulls attempt a breakout from a sideways pattern going back to February.This after the company reported results on July 17 with growth tepid but profitability strong. Earnings have beat estimates for five straight quarters now as the company dials back on promotional activity and instead focuses on the user experience and new features.The company will next report results on Oct. 29 after the close. Analysts are looking for earnings of 64 cents per share on revenues of $2.7 billion. * 7 Defense Stocks to Buy to Fortify Your Portfolio Investors and analysis are looking ahead to the planned spinoff of its StubHub and Classified businesses, which will streamline the company around its high margin areas. International Business Machines Corp (IBM) Click to Enlarge IBM (NYSE:IBM) shares are pushing into clean air, rising up and over its April high to return to levels not seen since early 2018.This after the company reported results on July 17, with earnings of $3.17 beating estimates by nine cents on a 4% drop in revenues. While revenue growth was soft, forward guidance was strong and margins improved slightly.The company will next report results on Oct. 16 after the close. Analysts are looking for earnings of $3.48 per share on revenues of $18.2 billion. Keep an eye on updated guidance due Aug. 2 that will include recently acquired Red Hat. Netflix (NFLX) Click to EnlargeAs the streaming wars intensify with the likes of Apple (NASDAQ:AAPL) and Disney (NYSE:DIS) wading in, Netflix (NASDAQ:NFLX) shares are getting slammed hard after the company reported a drop in subscriber count.The stock fell below its 200-day moving average to exit a multi-month trading range going back to January, which marked the second phase of a long inability to push much past the $400-a-share level since shares hit a record last summer.Only 2.7 million subscribers were added last quarter on a net basis, well below the five million that were forecast. Financial numbers largely met expectations, however, as attention remains on its cash burn rate. * 5 Self-Driving Car Stocks to Buy Notably, the number of U.S. subscribers fell by 130,000 versus guidance for a 300,000 gain -- the first U.S. net subscriber loss since the streaming business was separated from its DVD-by-mail business in 2011.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post 4 Big Tech Stocks to Watch on EarningsÂ appeared first on InvestorPlace.
IBM is unjustifiably one of the cheapest companies offering cloud-based software solutions. Big Blue continues to spew out significant amounts of free cash flow, and its Q2 2019 results show that IBM continues to improve its fundamental operations. Since that time, its stock is up approximately 22% compared with the S&P500 which is only up 13%.
U.S. stock futures are trading higher this morning in a continuation of yesterday's rally. After a two-day slide, the recent rebound is reassuring traders that bulls are still in control of the overall trend.Source: Shutterstock As we head into the first minutes after the bell, the Dow Jones Industrial Average is up 0.36%, and S&P 500 is higher by 0.36%, while the Nasdaq-100 has added 0.45%.Yesterday's action in the options pits saw a surge in overall trading volumes. Calls ran hot throughout the session, eclipsing the 20 million mark for the first time in a while. By the closing bell, about 21 million calls and 17.4 million puts changed hands.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe call surge was enough to knock the CBOE single-session equity put/call volume ratio back down from the one-month high tagged on Wednesday. The metric closed at 0.60, landing it right on top of the 10-day moving average. * 10 Tech Stocks That Are Still Worth Your Time (And Money) On Thursday, options traders zeroed in on earnings announcements and gold stocks. International Business Machines Corp. (NYSE:IBM) and Microsoft Corporation (NASDAQ:MSFT) saw heavy traffic surrounding their quarterly reports. Elsewhere, Barrick Gold (NYSE:GOLD) shares were bid to the moon amid the ongoing gold rush.Let's take a closer look: IBM (IBM)IBM reported earnings Wednesday night, and the Street cheered the results, gifting its share price with a 4.6% gain. The rally pushed IBM stock to a fresh nine-month high and placed it on firm footing to make a run toward $160. Ahead of the report, the tech titan had already made progress on its price trend. With it now trending above all major moving averages, the path of least resistance is higher.Digging into the numbers reveals a slight decrease in revenue compared to the year-ago quarter. IBM was able to clinch a 3% rise in adjusted earnings, however. Adjusted earnings was $3.17 per share on revenue of $19.16 billion. According to FactSet, analysts were calling for earnings of $3.08 on $19.17 billion in revenue.On the options trading front, traders gobbled up calls throughout the day. Total activity ballooned to 685% of the average daily volume, with 173,767 contracts traded. 65% of the trading came from call options alone.With the uncertainty of earnings in the rearview mirror, implied volatility sunk back to more normal levels. At 24%, the reading now sits at the 45th percentile of its one-year range. Premiums are baking in daily moves of $2.27 or 1.5%. Microsoft (MSFT)Microsoft is one of this year's biggest winners among the large-cap tech space, and the gains are set to continue after last night's robust report.For the fiscal fourth quarter, MSFT raked in earnings of $1.37 per share on revenue of $33.72 billion. The Street was calling for $1.21 per share on $32.77 billion, so consider this a strong beat on both fronts.MSFT stock is poised to open up around 3% this morning, pushing the company well north of the $1 trillion market cap. Its year-to-date gains have now climbed to 38%.On the options trading front, traders favored calls ahead of the number. Activity swelled to 315% of the average daily volume, with 500,809 total contracts traded. Calls claimed 55% of the session's sum.The expected move heading into earnings was $3.95, so this morning's gap is right in line with forecasts. Three cheers for market efficiency! Barrick Gold (GOLD)Gold and silver prices are going bananas. They are this summer's must-have asset, and gold mining stocks are riding the coattails of the popularity. Yesterday's breakout in Barrick Gold sent the miner to a new 52-week high amid heavy volume.And speaking of volume, the past six weeks' ascension has seen accumulation days galore signaling a mass influx of institutions into the space. The gains have been sufficient to pull the 200-day moving average higher, which is saying something because it's been stuck in the mud for over a year.On the options trading front, traders came after calls with a vengeance. Activity ramped to 282% of the average daily volume, with 109,783 total contracts traded. Calls contributed 83% to the day's take.The increased demand drove implied volatility higher to 37% or the 48th percentile of its one-year range. Premiums are pricing in daily moves of 40 cents or 2.3%As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post Friday's Vital Data: IBM, Microsoft and Barrick Gold appeared first on InvestorPlace.
The market managed to snap out of a two-day funk before it raced out of control, with the S&P 500 logging a gain of 0.36% on Thursday. Nevertheless, the volume behind the move was modest, and the weight of the gains since early June are still bearing down.Source: Shutterstock The gain took shape despite Netflix (NASDAQ:NFLX), which fell 11% after last quarter's subscriber growth fell well short of estimates. Helping keep stocks in the black despite Netflix's stumble, above others, were International Business Machines (NYSE:IBM) and Philip Morris International (NYSE:PM). Shares of Big Blue improved more than 4% following its second quarter earnings beat, and the cigarette company's stock jumped more than 8% after it crushed its Q2 outlooks.It's the stock charts of eBay (NASDAQ:EBAY), Intel (NASDAQ:INTC) and Mohawk Industries (NYSE:MHK) that offer the most promising trade prospects as the week comes to a close, however. Here's why, and what to look for.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Intel (INTC)It would be easy to give up on Intel here, after the reversal that began to take shape in late May seems to have stalled. It's too soon to throw in the towel just yet, though. INTC stock has found support right where it needed to most, and may only simply be preparing its next move. * 10 Tech Stocks That Are Still Worth Your Time (And Money) If such an effort is brewing and manages to take hold, however, there's a fair amount of upside that could actually be captured in a short period of time. Click to Enlarge• The support in question was offered by the critical 200-day moving average line, plotted in white on both stock charts. This week, it's kept Intel from sinking any lower (highlighted).• That support, however, will mean nothing until INTC stock moves above the gray 100-day moving average line, which more or less coincides with a handful of highs around the $50.50 level.• The long-term pattern favors a move above current levels. Pushing up and off of a support level that now tags all the key lows since the beginning of 2018, plotted in red on both stock charts, a move to the $58 area would repeat and complete the pattern.• Still, there's a decided lack of volume behind the bullish effort thus far. Mohawk Industries (MHK)At the beginning of this month Mohawk Industries was pegged as a good breakout candidate. Though the thrust from June had rolled over, it found a technical floor at the idea spot and turned high again. The move underscored a much bigger upside effort that started to take shape late last year.MHK has knocked over another impasse in the meantime. The technical ceiling that capped the early July gain where June's peak was to be found has been hurdled as well. The backdrop isn't too shabby either. Click to Enlarge• The technical ceiling in question is $153.50, plotted in blue on both stock charts, marking where Mohawk made its last two highs.• Though hardly above average, the volume that had been missing since the late-June bounce is finally starting to take shape.• The rebound from last year's miserable pullback puts that weakness well into the rearview mirror, but also leaves no clear technical ceiling. Last July's high near $228 is the next most plausible resistance. eBay (EBAY)The initial reaction to Wednesday's post-close earnings report from eBay was extreme bullishness, unwinding a sizeable (even if not earth-shattering) setback suffered during Wednesday's regular hours action. It looked like the pause since mid-June was going to give way to a new rally.Thursday's bullishness faded quickly though, and in a big way. While EBAY stock still ended the day with a gain, it ended the day well below the highs, and the stage is set for much more weakness with even just the slightest of slipups. Click to Enlarge• Tall bars made on high volume often indicate pivot points. In this case two consecutive tall bars on volume surges suggest that the profit-takers were and are tearing in, and were planning to do so no matter what.• Zooming out to the weekly chart, we can see that the last overbought condition that coincided with a pullback from a tall weekly bar from early 2018 turned out to be a major pivot point as well.• The key here is the $38.84 area, marked in yellow on the daily chart. That's where eBay shares made a low on Wednesday, but also in late June. A move under that level could prove problematic.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Tech Stocks That Are Still Worth Your Time (And Money) * 7 Marijuana Stocks With Critical Levels to Watch * 7 of the Best Smart-Beta ETFs to Target Right Now The post 3 Big Stock Charts for Friday: eBay, Intel and Mohawk Industries appeared first on InvestorPlace.
AT&T (NYSE:T) has begun the hard task of trying to pay back the debt it took on buying Time Warner. T stock investors got a sense this week of just how difficult that's going to be, as they were reminded of how big of a mistake the company made on the deal.Source: Shutterstock The company took to the airwaves this week to try to convince the world that its outsourcing of cloud to International Business Machines (NYSE:IBM) is somehow getting it back into the tech game.IBM said it will run its software defined network operations through AT&T and the two companies will also go to market together. But it's clear from IBM's press release that if money is moving here, it's moving from AT&T to IBM, not the other way around.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBetween the lines of this week's announcement, it's clear that AT&T is out of the technology business. Hide the LayoffsAT&T is quietly moving toward yet-another round of layoffs while insisting that calling them layoffs is misleading. More T-speak is in store.A plan to start charging $4/month to block spam is sold as an automatic block on robocalls. Grants to study quantum computing are spun as AT&T entering the space.A "me-too" streaming service called HBO Max is called innovation because it includes 20-year old re-runs while AT&T quietly cuts headcounts at WarnerMedia. * 10 Stocks to Sell for an Economic Slowdown AT&T is grabbing for cash wherever it can find it. Bounty hunters and stalkers are being told just where their victims are without regard to consequences. Customers who sue are being told by AT&T lawyers they have no rights in court and must go to binding arbitration it controls.AT&T has pushed through multiple price increases at DirecTv Now while playing hardball with network affiliates, taking them off its systems. Desperate for CashThere's good reason for AT&T to be nickel-and-diming everyone. You won't find it in the income statement. Look at the balance sheet and statement of cash flows.In March AT&T reported it had $185 billion in long-term debt but only $152 billion in property, plant and equipment. It claimed more than $162 billion worth of "intangible assets" and $146 billion of "goodwill" to boost its asset total to $583 billion. There is also $104 billion in undefined "other liabilities."AT&T reported $11 billion of operating cash flow, but $5.4 billion went back into maintaining the debt load and $3.7 billion was needed to pay its dividend. The best cash flow report in a year showed $1.2 billion in net cash.As I noted a few weeks ago, AT&T has an enormous technology debt. Much of its physical plant is obsolete, wires for phone services no one wants. Its wireless unit will increasingly compete with its U-Verse cable as 5G is rolled out. Cord-cutting means those Warner Media cable channels aren't worth what you think, either. * 7 Dependable Dividend Stocks to Buy The reason you buy AT&T stock is for that 51 cents per share dividend. But the more AT&T pounds the table to bring the stock price up, the less valuable even that becomes. The stock market's recent rise has pressured the yield from almost 6.6% to about 6%. The stock enters trade July 17 a nickel higher than the analysts' average target price for this time next year. Bottom Line on AT&T StockIf AT&T CEO Randall Stephenson wanted to bet the company on a big acquisition, he should have bought IBM. It's at least a technology company. Instead he bought Time Warner, a media company whose assets mostly serve the dying niche of cable.If AT&T can squeeze profits from captive customers for the next 10 years, it might make a dent in its debt load. But the assets are rapidly declining in value. This story will not end well.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post AT&T Stock is Now the Content Play Formerly Known as a Tech Stock appeared first on InvestorPlace.
Phreesia, Kronos Bio Inc., Kaleidoscope Lab, Near, AlphaSense, Capital Rx, Altonomy, Bulletin and Umbrella each raised funding.
(Bloomberg) -- President Donald Trump said he’s looking “very seriously” at a cloud-computing contract valued at as much as $10 billion that the Pentagon is likely to award to Amazon.com Inc. next month.“I’m getting tremendous complaints about the contract with the Pentagon and with Amazon,” he told reporters Thursday during a meeting with Netherlands Prime Minister Mark Rutte at the White House.The contract wasn’t competitively bid, Trump said. The Pentagon is holding a competition for the contract, but Trump said that companies are complaining that the terms favor Amazon, the dominant player in cloud computing services. Microsoft Corp. is the only other company that hasn’t been eliminated from consideration.Bloomberg News reported Wednesday that Trump recently raised concerns about the contract with aides after learning of correspondence Republican lawmakers have exchanged with the Pentagon and the White House criticizing the bidding process.Some Republicans have alleged that the contract’s terms were crafted from the start to favor Amazon, and that there were conflicts of interest involving the company as the Pentagon considered bids.“I will be asking them to look at it very closely to see what’s going on,” Trump said in apparent reference to the Defense Department, “because I have had very few things where there’s been such complaining. Not only complaining from the media -- or at least asking questions about it from the media -- but complaining from different companies like Microsoft and Oracle and IBM. Great companies are complaining about it.”Some supporters of the Pentagon process pushed back on Trump’s comments. Four House Republicans on the Armed Service Committee, including ranking member Mac Thornberry, wrote a letter to Trump on Thursday saying “it is essential for national security” to move forward with the contract “as quickly as possible.”“Further delays will only damage our security and increase the costs of the contract,” they wrote.Trump and BezosWhile Trump didn’t mention Amazon founder Jeff Bezos by name on Thursday, he has long denounced the billionaire in tweets criticizing him on many fronts -- from the shipping rates his company pays the U.S. Postal Service to his personal ownership of what Trump calls “the Amazon Washington Post.”Oracle Corp. has fought the contract process and has led a fierce lobbying campaign against the Pentagon’s plans to award the project, known as Joint Enterprise Defense Infrastructure or JEDI, to a single bidder. But the company lost a legal challenge last week contesting the terms of the bid and alleging the Pentagon had crafted unfair requirements and that there were conflicts of interest involving Amazon.In April 2018, Oracle’s Chief Executive Officer Safra Catz dined with Trump at the White House and complained that the contract terms seemed designed for Amazon to win, Bloomberg has reported. The final requirements for the contract were released in July of that year.International Business Machines Corp. said in a statement after Trump’s comments that it “has long raised serious concerns about the structure of the JEDI procurement. We continue to believe that the Department of Defense and our men and women in uniform would be best served by a multi-cloud strategy” rather than the Pentagon’s plan for a winner-take-all award.Oracle and Microsoft had no comment on Trump’s remarks.“We are aware of the remarks and have nothing to add at this time,” Elissa Smith, a Defense Department spokeswoman, said in an email.Intervention’s RarePresidents and their advisers often set out their visions for defense spending and technology priorities, and Trump has spoken out on matters from the cost of F-35 fighter jets to paint colors for new Air Force One planes.But it’s rare for a commander-in-chief to intervene in specific Defense Department contract competitions because they are governed by extensive laws and regulations intended to wall off billion-dollar awards from political influence, according to experts on the contracting process.“The system is explicitly set up to prevent political officials from being able to influence the outcome of a contract,” said Stan Soloway, chief executive officer of Celero Strategies LLC. The president “can’t pick winners and losers.”Federal agencies have to clearly outline the requirements and criteria they will use to choose a winning bid. Losing bidders can challenge a decision to the Government Accountability Office or in the Court of Federal Claims, contending that the ground rules set in a solicitation weren’t followed. Oracle already has lost a court case challenging the handling of the JEDI contract.But a president has more freedom to exert influence over a project’s structure and acquisition strategy, which could effectively help some companies and hurt others, said Trey Hodgkins, the chief executive officer and founder of Hodgkins Consulting.“He can shine a spotlight on the process and ask the question: Is this the best option for the warfighter? Is this the best deal for the taxpayer?” Hodgkins said. “I don’t know that it would be politically prudent to ignore executive-level scrutiny of the decision making process.”(Updates with lawmakers’ letter starting in seventh paragraph.)To contact the reporters on this story: Jennifer Jacobs in Washington at email@example.com;Naomi Nix in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Alex Wayne at email@example.com, ;Sara Forden at firstname.lastname@example.org, Justin Blum, Larry LiebertFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
IBM and eBay both moved into buy range Thursday, following quarterly results that beat expectations. EBay retook a buy point after reporting a 28% earnings advance and a 2% rise in revenue.