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.
"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
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
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
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.
Walmart’s (WMT) third-quarter earnings crushed expectations. And a key area of growth for the company was its food business, which had its strongest quarter in almost six years. CEO Doug McMillan said the company’s fresh meat, bakery and produce segments
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 yield curve continued to flatten after strong U.S. housing starts data for October.
Of more than 6,300 respondents, 23% said they had purchased bitcoin and 20% still held some. Seventy-one percent of bitcoin buyers told us they’ve made money, while 8% said they’ve lost money. Nearly one-quarter of bitcoin buyers said the investment has changed their lives — mainly by making them wealthier on paper and giving them more money to spend.
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."
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
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.
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.
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.
You may have a dollar amount, age or career milestone in mind that's associated with your retirement date. Aim to enter retirement with a comprehensive plan that ensures you're in complete control of your money and life. Your retirement plan should include everything that will impact your lifestyle before the big day arrives.
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.
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 $
Alnylam Pharmaceuticals, Inc. ALNY announced that it has initiated submission of a rolling New Drug Application (NDA) to the FDA for lead candidate patisiran. The candidate is an investigational RNAi therapeutic targeting transthyretin (TTR) for the treatment of hereditary ATTR (hATTR) amyloidosis. The rolling submission allows completed portions of an NDA to be reviewed by the FDA on an ongoing basis. Notably, the NDA filing is based on promising results from the APOLLO phase III study that met its primary as well as all secondary endpoints.
One stock that might be an intriguing choice for investors right now is Acco Brands Corporation ACCO. This is because this security in the Office Supplies space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective. This is arguably taking place in the Office Supplies space as it currently has a Zacks Industry Rank of 8 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
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,
Repealing the Obamacare requirement that most Americans have health insurance or pay a fine would not cut the number with insurance — or the federal budget deficit — as much as officially predicted, a new analysis says. The analysis suggests that Obamacare is such an attractive financial deal to many people that they don't have to be compelled to sign up for coverage with the threat of a fine. The S&P Global Ratings (SPGI) analysis estimates that repealing the Obamacare individual mandate — which a controversial new Senate tax bill seeks to do — will lead to about 4 million to 5 million more people becoming uninsured by 2027 than otherwise would have been.
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%.
The EC (European Commission), the regulatory authority of the European Union, recently announced that its decision on the proposed merger between Qualcomm Inc. QCOM and NXP Semiconductors NV NXPI may come in 2018. On Oct 27, 2016, Qualcomm had entered into a definitive agreement with the Netherlands-based mobile chipset giant for the latter’s acquisition. Per the deal, Qualcomm would be paying $110 per NXP share in cash, reflecting an enterprise value of approximately $47 billion (equity value of $39 billion) for NXP.
The global insurance industry is worth nearly $5 trillion, and insurance companies are at risk of losing a share of this valuable market to new entrants. Some are helping incumbents deliver better end products, while others are directly competing with legacy players.
Coinbase, the US cryptocurrency exchange, is wooing big hedge fund money with a new security platform. The impressive appreciation of cryptocurrencies like bitcoin and Ethereum has finally piqued the interest of big money, but some still have their reservations about whether their crypto-investments will be secure.
A better-than-expected quarter from Cisco Systems Inc. (CSCO) drove gains in the tech sector and pushed the Nasdaq to a closing high. The rest of Wall Street also rose after the House passed a GOP tax plan, the first step towards a corporate tax cut. Time Inc. (TIME) was higher on reports the publisher is discussing a sale to Meredith Corp. (MDP) . The Koch brothers are reportedly putting up more than $500 million in equity to back a Meredith offer. T-Mobile US Inc. (TMUS) rose after its chief financial officer said the company would propose a significant share buyback program for the board to decide on this month. Buybacks could begin as early as December. Barnes & Noble Inc. (BKS) was sharply