|Bid||50.07 x 4000|
|Ask||50.08 x 1100|
|Day's Range||50.03 - 50.36|
|52 Week Range||38.97 - 52.11|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.00|
|Expense Ratio (net)||0.13%|
Federal Reserve Chair Jerome Powell is set to testify before lawmakers starting tomorrow. This as White House Economic Advisor Larry Kudlow addressed concerns over Powell's job security. Yahoo Finance's Seana Smith and Brian Cheung discuss.
Rosenblatt Securities downgraded Apple to “sell” on concerns of 'fundamental deterioration' within the next year. Yahoo Finance's Dan Howley joins Seana Smith on 'The Ticker' to discuss.
Fed Chair Jerome Powell said that the Fed is “insulated” from short-term political pressure, warning that huge policy mistakes can happen when the Fed is influenced by the White House. Yahoo Finance's Brian Cheung joins Seana Smith on 'The Ticker' to discuss Powell's speech at the Council on Foreign Relations.
Investors watching this week's G-20 summit closely, as President Trump is expected to meet with President Xi to smooth things on the trade front. UBS predicting the global growth to drop by as much as 75 basis points should those talks fail. Wilmington Trust CIO Tony Roth joins Yahoo Finance's Seana Smith.
The FCC voted to give phone companies permission to block suspected robocalls before they reach phones. Yahoo Finance's Seana Smith, Dan Howley, Jared Blikre discuss.
Information technology shares and those related to telecoms suffered sharp losses Tuesday, as commentary from the Federal Reserve moderated hopes for a substantial reduction of benchmark borrowing costs. Rate-cut hopes have thus far underpinned equity market's record rally. The Dow Jones Industrial Average fell 0.7%, to 26,548, those for the S&P 500 index finished 1% lower at 2,917, with the info tech sector losing 1.8% and the communication services sector shedding 1.6% to lead the 11 S&P 500 sectors lower Tuesday. Shares of those companies, including Facebook Inc. have been among the best performers as the broader market carved out new records, with the S&P 500 setting its first closing record since April 30 on Thursday. As tech-related stocks got clobbered, the technology-heavy Nasdaq Composite Index endured the brunt of the day's selling, down 1.5% at 7,885, representing the worst day for the index sine June 3. Speaking at the Council on Foreign Relations in New York at 1 p.m. Eastern Time, Fed Chairman Jerome Powell said the rate-setting Federal Open Market Committee was "grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation," in prepared remarks. Before that comment, St. Louis Fed President James Bullard, a dovish FOMC member who had advocated for a rate cut, said he didn't endorse an aggressive cut to benchmark rates, which stand at a range of 2.25%-2.50%.
Shares of Walt Disney Co. fell 0.4% in premarket trading Monday, after the media and entertainment giant was downgraded by Imperial Capital analyst David Miller, citing concerns over valuation after the recent run up in price. Miller cut his rating to in line, after being at outperform since November 2018, but kept his price target at $147. The stock has soared 29.2% year to date through Friday, while the SPDR Communication Services Select Sector ETF has rallied 16.6% and the Dow Jones Industrial Average has gained 11.8%; it closed at a record of $141.74 on Thursday. Miller said Disney's stock is "now trading at record multiples," with all the bullish catalysts he was expecting when he upgraded the stock in November, including the release of "Avenger's Endgame," the opening of two "Star Wars" lands, the disposal of the Regional Sports Networks and the re-financing of various 21st Century Fox debt, is now "pretty much built into the stock, in our view." He said the one bullish catalyst that hasn't yet occurred--the resumption of share buybacks--could resume as soon as about one year from now.
Communication services was the hardest hit of the S&P 500's 11 sectors, led by the sharp selloff in Google-parent Alphabet Inc. shares. The SPDR Communication Services Select Sector ETF shed 1.9% in morning trade, putting it on track for a three-month closing low, while the S&P 500 gained 0.1%. The biggest drag was Alphabet's stock, which tumbled 5.6% on fears that the Department of Justice is preparing for a potential antitrust investigation. Among other big losers, shares of Facebook Inc. dropped 3.7%, CenturyLink Inc. gave up 2.7% and Twitter Inc. slid 2.4%. Meanwhile, the biggest gainers were shares of Verizon Communications Inc. tacked on 2.0% and AT&T Inc. rose 2.0%.
Shares of Sprint Corp. took an afternoon dip Monday, but was still 16%, after Bloomberg reported that the Department of Justice is leaning against approving T-Mobile U.S. Inc.'s buyout of the telecommunications company. The stock had rocketed as much as 27.8% in intraday trade Monday, after the Federal Communications Commission Chairman Ajit Pai said he planned to recommend the merger, after the latest commitments made by the companies. The Bloomberg report, which cited one person familiar with the DOJ review, said the reason the DOJ was leaning against approving the merger was because the remedies proposed by the companies don't go far enough to resolve antitrust concerns. Meanwhile, T-Mobile U.S.'s stock was up 2.5%, after being up as much as 7.4% earlier. The SPDR Communications Services Select Sector ETF was down 1.7% and the S&P 500 fell 0.8%.
The Nasdaq today led the market higher, as technology and internet stocks rallied and helped the indexes extend their rebound.
Shares of AT&T Inc. rose 2.5% in morning trade Tuesday, after Chief Executive Randall Stephenson spoke provided an upbeat outlook for its video business in 2020. Speaking at the J.P. Morgan Global, Technology, Media and Communications Conference, Stephenson said a spike in churn in the video business should be expected this year, as the company looks to boost profitability in the business by "cleaning up" the customer base. He said a number of video customers provide "very low" average revenue per user (ARPU). "It's going to take pretty much this year to work through this customer cleanup," Stephenson said, according to a transcript provided by FactSet. By 2020, he said customer numbers can improve "significantly," as the lion share of those remaining will be of "high quality." AT&T's stock has gained 9.4% year to date, while the SPDR Communication Services Select Sector ETF has rallied 16.2% and the S&P 500 has tacked on 13.0%.
While the trade war dampens the economic outlook, some services-related ETFs could stand out or at least hold up much better than other sectors that rely on producing goods to turn a profit. Goldman Sachs ...
The month of April saw more strength for U.S. equities as the markets were boosted by more optimism coming from the Commerce Department with the U.S. economy rebounding in the first quarter, beating analysts’ ...
Investors should consider sector-specific ETFs to focus on targeted segments of the market, especially as U.S. markets head in to the late business cycle. On the recent webcast, How Sectors Can Help with ...
Sectors can be an efficient tool to help advisors get a leg up on a changing market. In this upcoming webcast, gain insight on navigating sector investing in the late business cycle and how to best diversify ...
Communication services sector-specific exchange traded funds were among the worst hit Tuesday after Google’s parent company, Alphabet (NasdaqGS: GOOG), experienced its worst day in a decade in response ...
Communication sector ETFs led the charge Thursday after Facebook (NasdaqGS: FB) posted a standout first-quarter report card that amazed many Wall Street players. Among the better performing non-leveraged ...
The U.S.-listed shares of Nokia Corp. plunged 9.9% toward a 6 1/2-month low in very active morning trade Thursday, after the Finland-based telecommunications giant reported a surprise first-quarter adjusted loss, citing increased competitive intensity in the early stages of 5G. Trading volume swelled to 34.9 million shares, enough to make it the most actively traded stock on major U.S. exchanges, and already above the full-day average of 23.3 million shares. Nokia reported overnight a net loss of EUR442 million ($492.5 million), or 8 cents a share, after a loss of EUR354 million, or 6 cents a share, in the year-ago period. Excluding non-recurring items, the adjusted per-share loss (euro) was 2 cents, compared with the FactSet consensus of a profit of 3 cents. Revenue rose 2% to EUR5.03 billion, above the FactSet consensus of EUR5.01 billion. Nokia's stock has lost 21% over the past three months, while the SPDR Communications Services Select Sector ETF has rallied 13% and the S&P 500 has gained 9.8%.
Facebook has gained nearly 21% over the past three months. The strength is expected to continue given that Facebook has a reasonable chance of beating earnings estimates this quarter.
Shares of Verizon Communications Inc. rallied 1.1% in premarket trade Tuesday, after the wireless, internet and TV services provider beat first-quarter profit expectations, while revenue was in line, and raised its outlook. Net income rose to $5.16 billion, or $1.22 a share, from $4.67 billion, or $1.11 a share, in the same period a year ago. Excluding non-recurring items, adjusted EPS rose to $1.20 from $1.17, beating the FactSet consensus of $1.17. Revenue grew 1.1% to $32.13 billion, compared with the FactSet consensus of $32.15 billion. Total wireless revenue rose 3.7% to $22.7 billion, above the FactSet consensus of $22.5 billion, while wireline revenue fell 3.9% to $7.3 billion, matching expectations of $7.3 billion. Wireless retail postpaid net additions totaled 61,000, consisting of net losses of 44,000 phones and 156,000 tablets, and net additions of 261,000 other connected devices, primarily wearables. Postpaid smartphone net additions were 174,000. The company raised it guidance for 2019 adjusted EPS to show "low single-digit percentage growth" versus previous guidance that it would be "similar" to 2018. The stock has gained 3.8% year to date through Monday, while the SPDR Communications Services Select Sector ETF has run up 19.6% and the Dow Jones Industrial Average has hiked up 13.7%.
The encouraging trends have rekindled the appeal for riskier assets, especially the cyclical stocks that tend to outperform during periods of healthy economic growth.