"Hock Tan gets his man," TheStreet's Jim Cramer said on CNBC's "Stop Trading" segment Friday regarding Broadcom (AVGO) CEO Hock Tan, in reference to the company's attempted buyout of Qualcomm (QCOM) . He says Tan will eventually get his wish. Broadcom previously made a $70 per share offer to acquire Qualcomm, valuing the latter at roughly $103 billion. Qualcomm rejected the offer, saying it wasn't enough and even if it was, the tie-up would likely face regulatory hurdles. Interestingly enough, both companies face other M&A situations. On Friday morning, Broadcom closed its $5.5 billion acquisition of Brocade. In Qualcomm's case, the company's much larger $47 billion deal to acquire NXP Semiconductors
As of Nov 8, around 77.4% of the tech sector companies on the S&P 500 index reported their Q3 earnings results. In this quarter, of the eight companies that make up the broader Zacks industry, six have already reported earnings, with five beating their Zacks Consensus Estimate. Each of the three major semiconductor chip makers, Intel Corp. INTC, NVIDIA Corp. NVDA and Texas Instruments Inc. TXN may have fundamental differences but came up with upbeat third-quarter results.
Shareholders of General Electric Co. (GE) , especially those who are retired and are (or were) relying on the stock's 24-cent quarterly dividend to fund their living expenses, should not panic -- even though the stock is down 8.8% over the last five sessions. But they might want to revisit their rationale for owning GE, which on Friday had a current yield of 4.5%. On Tuesday, John Flannery, the CEO of GE, announced plans to restructure the company and focus on healthcare, aviation and energy, and halve its quarterly dividend to 12 cents a share. Joseph Clemens, the co-founder and owner of Wisdom Wealth Strategies, as well as an instructor for the College for Financial Planning, said investors
Nov.17 -- Jim Paulsen, Leuthold Group chief investment strategist, discusses the impact of the money supply contraction on the economy with Bloomberg's Julie Hyman and Shery Ahn on "Bloomberg Markets."
Retirement is right around the corner for baby boomers — if they haven’t already entered it — yet so many are financially unprepared. Baby boomers, or those born between 1946 and 1964, expect they’ll need $658,000 in their defined contribution plans by the time they retire, but the average in those employer-sponsored plans is $263,000, according to a survey of 900 investors by financial services firm Legg Mason. Older boomers, who are 65 to 74, have an average of $300,000. Their asset allocation for all of their investments are also conservative, according to QS Investors, an investment management firm Legg Mason acquired in 2014, with 30% in cash, 24% in equities, 22% in fixed income, 4% in
The U.S. dollar was lower on Friday along with Wall Street stocks as investors pulled back from technology stocks and were skeptical President Donald Trump's Republican party would succeed in its efforts at overhauling U.S. tax law. U.S. Treasury yields edged lower, in line with declines in U.S. stock indexes and German 10-year bond yields, as risk appetite faded. The U.S. House of Representatives voted in favor of its version of a tax overhaul bill that would cut corporate taxes on Thursday.
Musk unveiled one flashy strategy for generating cash during the launch event Thursday for the Semi truck, surprising the audience with a prototype of a new generation of the Tesla Roadster. Musk promised the Roadster will be the fastest production car available. Musk did not offer details about how Tesla would generate additional funds to deliver the semi truck and the roadster, and overcome production problems that have hobbled production of the company's high-volume sedan, the Model 3.
For Eddy Zillan’s bar mitzvah in 2012, his parents gave him $5,000 to start an investment fund. Instead, he began buying cryptocurrencies like bitcoin and ethereum. Eddy saved up another $7,000 from summers spent working at a tennis club and other jobs, adding that to his investment fund for a total $12,000 in principal.
Ultragenyx Pharmaceutical Inc. RARE announced that the FDA has approved its genetic disorder drug, vestronidase alfa or rhGUS, for treatment of children and adults with mucopolysaccharidosis VII (MPS VII, also known as Sly syndrome). Notably, mucopolysaccharidosis VII is a progressive and debilitating rare genetic disorder. In July 2016, the company announced positive top-line data from the study.
Buffalo Wild Wings popped more than 24% on reports of a takeover offer from Roark Capital Group. The price of chicken wings is at historic highs and is the root of deeper problems at the company. Buffalo Wild Wings has been struggling lately, with the stock falling 5.43% in the last year.
Katrina Lake became the first female chief executive officer to take a company public in the U.S. this year when Stitch Fix Inc. started trading on Friday. Almost more unusual is the fact she did it with a fraction of the cash of most venture-backed companies: The online subscription apparel retailer had raised just $42 million. Lake had to do more with less because female entrepreneurs are at a disadvantage when raising money from mostly male venture capitalists. A Bloomberg study last year showed that women founders got about $3 for every $4 that male founders raised. Just 7 percent of founders are women. But Stitch Fix’s IPO shows that this funding shortfall can sometimes be an advantage in
Amazon CEO Jeff Bezos knows what it takes to build a business worth billions and he has his grandfather to thank for part of his success.
Jim Cramer holds Nvidia (NVDA) in his charitable trust, but has cut the stock's rating because of the company's recent run-up. "Because of the speed of the last move from the $170s to the $200s, we downgraded [Nvidia] from a '1' to a '2,'" Cramer said during his latest conference call with members of his Action Alerts PLUS club for investors. "Our discipline is to keep you from buying high -- and post-earnings, this stock last time got pummeled. We didn't want to get you into that maelstrom again." Cramer said Nvidia typically has a post-earnings swoon before settling in at a new higher level, a process that repeated itself following NVDA's latest release last week. Despite what Cramer called
MUMBAI/BENGALURU (Reuters) - Gold prices in India traded at a discount for the first time in six weeks as the key wedding season failed to spur fresh demand, while high prices curbed appetite for the precious metal in major Asian centres except China. Gold is considered an essential part of weddings in India, the world's second-biggest consumer after China, and it is a popular gift for special occasions. Dealers in India were offering a discount of up to $2 an ounce this week over official domestic prices, compared to a $2 premium last week.
ArcelorMittal MT – the biggest steel producer on the planet – is having an impressive run of late, thanks to improving global steel market conditions and the company’s internal initiatives. The Luxembourg-based company has seen its shares shoot up roughly 34% so far this year. ArcelorMittal has also seen strong earnings estimate revision activity over the past month, suggesting analysts are becoming more bullish on the firm’s prospects in both the short and long term.
There has been lot of speculation regarding Apple Inc AAPL reaching the $1 trillion mark. For a while now, analysts have been predicting that Apple will be the first company to reach the trillion dollars valuation. Per a recent report by GBH Insights analyst Daniel Ives, as quoted by Investors Business Daily, iPhone X cycle could help Apple reach the milestone figure as early as next year.
The euro zone economy will mark its best year in a decade and maintain solid growth well into 2018, according to economists in a Reuters poll who said the risk was that their forecasts might not be optimistic enough. Inflation, last clocked at 1.4 percent, is expected to stay below the European Central Bank's target of just under 2 percent until at least the second half of 2019, according to the poll of over 80 economists taken Nov. 13-16. Euro zone economic growth has been surprisingly robust this year, outpacing both the United States and Britain simultaneously for the first time since the 2007-08 financial crisis, and also one of the most synchronous upturns across the euro zone economies.
The S&P 500 Index slipped 0.1 percent to 2,578.85, the second straight weekly decline. Strength in haven industries is another rebuke to those who see the S&P 500’s record-setting advance as evidence of excessive optimism.
Dubai Air Show 2017 witnessed some landmark deals involving renowned jet makers from across the globe, showcasing their state-of-the art aircraft both in the defense as well as commercial space. Air Shows are often held as trade events wherein aircraft manufacturers unveil their new jets alongside demonstrating upgraded avionics to promote their product lines to global customers. The Dubai Air Show is also no exception.
Investors pulled about $6.8 billion from high-yield bond funds last week, the third-biggest outflow on record, as investor jitters about the sustainability of yields at multi-year lows caused a selloff in risk assets.Emerging-market bond funds lost $
The Congressional tax overhaul could put a dent in home values in high-tax states and create looming credit risks for local governments. S&P Global Ratings said this week that the proposals to eliminate state and local tax deductions could be a direct blow to residents of high tax states because of the potential hit to property values. In turn, there could "be a credit impact from both the tax base reductions and resulting lower tax revenues" for local governments dependent on property taxes. Most affected are California, New York, and New Jersey, while states with lower taxes, like Florida and Texas, could see benefits, the S&P analysts said. The House approved its version of the tax bill Thursday,
The main earnings highlight on Friday will come from footwear retailer Foot Locker (FL), which is set to report results before the market open. The economic calendar will also be fairly sparse, with the monthly reports on housing starts and building permits serving as highlights. Markets will look to build off what was a positive day on Thursday, with the major U.S. indexes bouncing back after declines earlier this week as the Dow and S&P 500 each gained about 0.8% and the tech-heavy Nasdaq added 1.3%.
India’s equity benchmark rose for a second day, helped by gains in Housing Development Finance Corporation Ltd. and ICICI Bank Ltd., after Moody’s Investors Service raised India’s sovereign bond rating for the first time since 2004. The S&P BSE India Bank Index has gained 42 percent this year, helped recently by India’s plan to inject 2.11 trillion rupees of capital into state-controlled lenders over two years. Moody’s upgraded India to Baa2 from Baa3 and said reforms being pushed through by Prime Minister Narendra Modi’s government will help stabilize rising levels of debt -- a shift from Moody’s lowest investment-grade ranking to the second lowest. Retail investors have piled into financial assets since Modi moved to ban high-value currency last November, 2 1/2 years after taking office.
It started with a deal that never was and ended with the mother of all air show announcements - this week's Dubai Airshow saw little in the way of firm new business, but reminded observers the rivalry between two global giants is as fierce as ever. As stragglers placed a handful of orders, delegates said the show would be remembered for the collapse of an anticipated Airbus deal to sell A380 superjumbos to Emirates and hunger for smaller jets including a record deal for 430 Airbus A320s. A Boeing 787 deal with Emirates also shook up the battle for widebody orders.
Retirement planning can be hard. Annuities, estates, health care, retirement calculators, safe withdrawal rates, Social Security, taxes. There are many pieces to a successful retirement plan. But almost all of those topics boil down and feed into the one question that outranks all others: How much money do I need to retire? I’ve been a serious student of the retirement equation and retirement lifestyles for more than 10 years. There is a lot to be said on these topics. (Witness more than 200 articles on my blog, and thousands more spread across the internet.) I’m also a fan of simplicity, but beware oversimplifying the retirement analysis. When it comes to the question of “How much?” it is tempting