Republican leaders reached an agreement on their final tax bill on Wednesday, making it look more likely that tax reform will be passed before the end of the year. This final bill is the product of a conference committee to reconcile differences between the House and Senate versions that Republicans in those chambers passed. Tax reform is being billed as a boon for America's middle class by Republicans and the White House.
Tesla (TSLA) has had trouble with production delays--remember when they were making cars by hand?--but now that those issues are finally being resolved, the stock could rocket higher, at least for a while, says Morgan Stanley. Analyst Adam Jonas and his team reiterated an Equal Weight rating and $379 price target on the stock Friday. That said, he sees the potential for the stock to be much higher. Jonas writes that while the market is starting to discount the "very high likelihood" that the production bottleneck in Nevada will be resolved, potentially as soon as the middle of the first quarter of next year, investors may be "seriously underestimating" the positive impact of Tesla's working capital
Delta Air Lines has agreed to a firm order for 100 Airbus A321neo jets. Delta Air Lines announced a firm order for 100 Airbus A321neo airliners on Thursday with a list value of $12.7 billion. "This is the right transaction at the right time for our customers, our employees, and our shareholders," Delta CEO, Ed Bastian said in a statement.
The best blue-chip stocks to buy for 2018 can anchor your portfolio and give you some peace of mind. After a nine-year rally, investors can protect their downside potential by buying large, diversified, quality businesses with long track records of excellence, world-renowned brands, and a willingness to pay dividends. Apple is a must-own in most diversified portfolios and is extremely well-positioned to be the world's first $1 trillion company.
(Reuters) - CSX Corp's shares tumbled on Friday in premarket trading after the No. 3 U.S. railroad said Chief Executive Hunter Harrison was taking medical leave for unexpected complications from a recent unspecified illness. The leave comes amid
Dec.15 -- Joseph Lubin, Ethereum co-founder, discusses the company's blockchain technology and the future of digital currencies with Bloomberg's Julia Chatterley and Scarlet Fu on "Bloomberg Markets."
Shares of Alibaba (BABA) are lower this morning, but MKM Partners doesn't think the stock will be down for long. Analyst Rob Sanderson reiterated a Buy rating and $200 price target on the stock Friday, writing that Alibaba still has the best fundamentals among its mega-cap peers, and that the recent selloff is a buying opportunity. He attributes the weakness in the shares to sector rotation out of large-cap internet stocks, lower Asian stocks in general, and data from the National Bureau of Statistics of China that showed online sales of physical goods decelerated by 600bps (to 21%) from October to November. That may sound bad, but he argues that the data is volatile, and Alibaba reported 39% year-over-year
President Donald Trump and the Republican Congress will likely pass tax reform in the near future. House and Senate negotiators have reached a deal on a tax plan, moving the GOP closer to its goal of passing a sweeping tax overhaul this year, Senate Finance Committee Chairman Orrin Hatch said Wednesday. The Republican deal features a corporate tax rate reduction to 21 percent from 35 percent, starting in 2018, and a top individual rate of 37 percent, CNBC and other outlets reported.
Federal Reserve Chair Janet Yellen sheds light on how investors should think about stock market valuations. For some time, the Federal Reserve has been acknowledging that stock market valuations are high. Fed Chair Janet Yellen reiterated this during a Q&A session at the end of the Federal Open Market Committee (FOMC) meeting on Wednesday.
The Republicans' proposed tax bill would change income tax brackets in 2018. In the midst of the political maneuvering, we've calculated how President Donald Trump's tax plan could affect you if tax reform is signed into law. By looking at what Trump's tax plan means for Americans' take-home pay at different income levels, our team at Business Insider got a number of emails that made us realize something important: Most people don't understand how tax brackets actually work.
The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's most important global news and film conglomerates. The new, slimmed down Fox will focus on TV news and sport. Early indications are that the deal will not face strong resistance from antitrust regulators as AT&T Corp's bid to acquire Time Warner Inc has done.
Yesterday, in a landmark decision, the U.S. telecom regulator Federal Communications Commission (FCC) repealed the Net Neutrality laws that it had imposed under the Obama regime. Ever since President Trump elected existing Republican commissioner Ajit Pai as the chairman of the FCC in January 2017, the fate of Net Neutrality was at stake. On Feb 26, 2015, the FCC under the chairmanship of Tom Wheeler adopted Net Neutrality implying an open-Internet atmosphere, which will prohibit ISPs (Internet Service Providers), especially the telecom and cable TV operators, from discriminating against applications.
Ride hailing company Uber was obligated to turn over to a U.S. federal judge a letter from a former employee that told of the company's "fraud and theft" and mentioned evidence of stolen trade secrets nailed "like a scalp" to the wall, a court official said Friday. Special master, John Cooper, assigned to a lawsuit against Uber Technologies Inc [UBER.UL] by Alphabet Inc's (GOOGL.O) self-driving car unit, Waymo, released a report on Friday stating the company should have produced the letter and was wrong in keeping it from the court. The letter, from former Uber security analyst Richard Jacobs alleging Uber engaged in illegal and unethical competitive tactics and had stolen trade secrets, is at the heart of Waymo's lawsuit against Uber.
Sales of Chinese smartphone makers are weaker than expected, of late, which is prompting those vendors to cut chip orders, according to an article today by Sammi Huang and Joseph Tsai of DigiTimes. Craig Ellis, who follows the shares of wireless chip makers Skyworks Solutions (SWKS), among others, for B. Riley, urges investors not to worry, the stocks are already discounting this. The piece by Huang and Tsai claims three Chinese vendors in particular, Huawei, Oppo, and Vivo, "are taking about less 10% of smartphone shipments than their original orders from the supply chain makers for the fourth quarter of 2017,” citing multiple unnamed sources. This is all attributed to worldwide smartphone sales turning out weaker than expected “recently.” The only vendor among the Chinese who appears to be not feeling the pinch is Xioami, they write.
Credit card processors are mostly responsible for data transmission and security when you use your card at a store or online to make a purchase. Below, we've outlined the major players in credit card processing and described their major strengths.
Republican are getting closer to passing their massive tax reform plan. Since it's now being reported that the top individual tax bracket would drop to 37%, we updated our analysis to compare the differences among the current system, the House's plan, the Senate's version, and the conference committee's version.
There is no mystery behind investors’ hunt for stocks with estimate beating potential ahead of an earnings season. Why Is a Positive Earnings Surprise So Important? Historically, stocks of companies with solid quarterly earnings (on a nominal basis) tank if they miss or merely meet market expectations.
In fact, per a study by IHS Markit, mobility services will emerge as a huge industry by 2040, with China as the frontrunner. New mobility services offer customers temporary use of a car that they do not own. Presently, these services are provided through app-based ride-hailing or car-sharing services, such as those offered by Didi Chuxing in China and Uber and Lyft elsewhere.
Chevron Corporation CVX will likely enter an agreement with Schlumberger Limited SLB to explore prospective resources located off the coast of Brazil, per Reuters.Oil field service giant Schlumberger is expected to assist Chevron in the drilling of six
Teva Pharmaceutical Industries Ltd. will lay off more than a quarter of its workforce — 14,000 people — as part of a two-year cost-cutting plan aimed at turning the beleaguered generics company’s fortunes around. Investors cheered the cuts, which were higher than expected, sending the company’s TEVA, +6.42% shares up 15% in extremely heavy Thursday morning trade. But the restructuring is also bound to hurt the company’s revenue, management noted on a Thursday conference call, and some Wall Street analysts questioned whether it could actually stymie Teva’s recovery effort. The plan is “unfortunate,” said Wells Fargo analyst David Maris, adding, “while this is more needed for survival vs. optimization,
Wall Street's three major indexes climbed to record closing highs on Friday with broad-based gains as a long-awaited bill to cut corporate tax rates looked like it would win enough support from lawmakers to pass. Republican Senator Bob Corker joined Senator Marco Rubio in signalling support in the late afternoon. Rubio had criticized the initial proposal, saying it did not give enough tax relief to working families, while Corker, had expressed concerned about the bill's impact on the federal deficit.
CSX Corp shares skidded as much as 10 percent on Friday, wiping out $4 billion in market value, as the No. 3 U.S. railroad by revenue sought to assure investors its turnaround would progress despite the unexpected medical leave of its chief executive officer. CSX stock, which has soared nearly 60 percent this year, tumbled 7.3 percent to $53.11 in midafternoon trading after earlier falling as low as $51.63. Most of the gains came after Hunter Harrison, 73, who led turnarounds of two Canadian railroads, was hired as CEO in March in a push by activist investor Paul Hilal.
The Republican bill to overhaul the U.S. tax code is finally set in stone, according to House Ways and Means Committee Chairman Kevin Brady. That’ll come as some relief to investors, who fled en masse from funds that hold some of the biggest winners from anticipated tax cuts amid concern that Republican lawmakers had gotten cold feet. On Monday, the iShares Russell 2000 exchange-traded fund, ticker IWM, suffered $1.2 billion in outflows -- the biggest daily drop of 2017 -- and followed that up with more than $900 million in assets out the door on Thursday after Republican Senator Marco Rubio of Florida indicated that he wouldn’t vote for the bill unless the child tax credit was expanded. The
China’s top smartphone makers are ready to challenge Apple Inc. on its home turf after trouncing the iPhone maker in their own market. Huawei Technologies Co. and Xiaomi Corp. are in talks with U.S. wireless operators about selling flagship smartphones to American consumers as soon as next year, according to people familiar with the matter. The handset makers are negotiating with carriers including AT&T Inc. and Verizon Communications Inc., said the people, asking not to be identified because the matter is private. Talks are still fluid and it’s possible no agreements will materialize, they said. Apple has a lot at stake in the U.S., where it is the leading smartphone maker. In years past, it’s