Here’s an updated scoop on the strategy, taking into account the possibility of tax reformReutersMitch McConnell leaves the Senate during debate over the tax reform plan on Dec. 1, 2017. For years, I’ve lectured chapter and verse about the wonderfulness of Roth IRAs, and they may soon be more wonderful than ever. The quickest way to get a relatively large sum into a Roth IRA so you can start taking advantage of the wonderfulness is to convert a traditional IRA with a hefty account balance into a Roth account.
Bitcoin's debut on a major U.S. exchange is a hit so far, with the price of the first-ever futures contract for the virtual currency rising 18 percent. The futures contract that expires in January surged $2,730 to $18,190 Monday morning on the Chicago Board Options Exchange. Trading began Sunday, and the price rose as high as $18,850, according to data from the CBOE.
There are, as I have noted in the past, reasons to believe that the long-term path of oil is still upward, but more immediately there is one dominant factor that keeps adding downward pressure, large and still growing supply from North American shale producers. The second chart, directly above, indicates why American producers are pumping at a growing rate. There are reasons for that recovery, most notably the production cuts agreed by OPEC countries and others including Russia and improving global growth, but those bullish factors are now fully priced in and the effect of that is to encourage U.S. E&P companies to, to borrow a phrase, drill, baby, drill!
Valeant Pharmaceuticals International, Inc. VRX was a big mover last session, as the company saw its shares rise nearly 12% on the day. The company has seen three positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Valeant. Valeant currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Oracle Corporation ORCL is set to report fiscal second-quarter 2018 results on Dec 14. Last quarter, the company reported non-GAAP earnings of 62 cents, which increased 12.3% on a year-over-year basis and also beat the Zacks Consensus Estimate of 61 cents. The current Zacks Consensus Estimate for the quarter under review is pegged at 68 cents compared with 61 cents in the year-ago period.
Incyte Corporation INCY announced a new 208-week (4-year) follow-up data from the phase III RESPONSE study of Jakafi. The study compared the efficacy and safety of Jakafi with best available therapy (BAT) in patients with polycythemia vera (PV), who are resistant to or intolerant of hydroxyurea (HU). The study met the primary endpoint showing that Jakafi was superior to BAT at controlling hematocrit (Hct) and reducing spleen volume at week 32.
Dec.10 -- Bitcoin reaches another milestone. Futures start trading on the CBOE. Bloomberg's Adam Haigh reports on "Bloomberg Daybreak: Asia."
They expect four of them to double in priceBloombergCoal is loaded on a vessel at a Consol Energy-owned terminal. Analysts expect Consol’s share price to rise 63% over the next 12 months.DMAMBMCMDMEMGPREVIEWZBZBRZDZDRZFZGZQZRZSZTZU(This is the third in
Boeing delivered two widebody jets to Middle Eastern airlines and won a 747 order this week, generating some cash for the fourth quarter. Chicago-based Boeing (NYSE: BA) delivered a 787-9 Dreamliner to Oman Air and a 777 freighter to Turkish Airlines. Boeing capped off the week by snaring a new order for the $387 million double-decker 747 from an unidentified buyer, according to its orders and deliveries website. The new jumbo jet order means more work for the Everett 747 manufacturing line, which Boeing said last year it might shut down. Airlines pay most of a new jet's price when they receive the aircraft, but also pay deposits when ordering. "The delivery of our first 777 freighter is a milestone
Oil prices edged lower on Monday as rising U.S. drilling activity pointed to a further increase in American production, countering OPEC-led output cuts. Brent crude futures, the international benchmark for oil prices, were 10 cents lower at $63.30 a barrel by 1115 GMT. U.S. West Texas Intermediate (WTI) crude futures were at $57.10 a barrel, down 26 cents from their last settlement.
Natural gas production in the United States has skyrocketed over the past five years, making the carbon-light fossil fuel cheaper to access and plentiful for export, according to a new report by the Energy Information Administration. Production in the Appalachia region alone has seen a jump of 14 billion cubic feet per day since 2012, driving the bulk of output growth in recent years and giving the region a 2016 output of 22.1 billion cubic feet per day. The Appalachian basin alone produced more natural gas than any nation except for Russia.
Last year’s list is a mixed bag, which is why you ought to invest for the long runBloombergAnalysts expect shares of CBS to rise 26% over the next 12 months.DMAMBMCMDMEMGPREVIEWZGZQZRZSZTZU(This is the first in a three-part series on analysts’ favorite
NEW YORK/SYDNEY/LONDON (Reuters) - Newly launched bitcoin futures indicated on Monday that financial markets expect the cryptocurrency to climb further but at a far slower rate than in recent weeks as warnings of a bubble grew. Chicago-based derivatives exchange Cboe Global Markets launched its eagerly anticipated bitcoin futures late on Sunday, marking the first time investors could get exposure to the market via a large mainstream regulated exchange. Bitcoin futures were already offered on some unregulated cryptocurrency exchanges outside the United States, but backers said this U.S. market debut would confer greater legitimacy on the volatile cryptocurrency and lead to its wider use.
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Bank of America BAC, Celgene CELG, Goldman Sachs GS, L Brands LB and Quest Diagnostics DGX.
Valentin Marinov, managing director and head of G-10 FX research at Credit Agricole, speaks about how central bank policy is impacting major currencies.
The January futures contract, which is a bet on where bitcoin will trade one month from now, was last trading at around $18,000. According to Yahoo Finance data, the current spot price of bitcoin is $16,630. Last week, bitcoin prices dominated headlines after a sharp run higher, culminating in Wednesday’s wild day of trading that saw the price of the digital currency rise, then fall, $3,000 in just hours. Tax reform will also continue to be a background focus for markets, as the House and Senate continue to work towards a unified tax plan that can pass in both chambers of Congress, though market moves over the last couple weeks have broadly indicated that the passage, or failure to pass, tax reform isn’t likely to be a major market catalyst in the coming weeks. This would also mark the fifth rate hike since the financial crisis and the fifth — and likely final rate hike — of outgoing Fed Chair Janet Yellen’s tenure.
Shares of semiconductor maker NXP Semiconductors (NXPI) are up $1.01, or 0.9%, at $116.30, after activist firm Elliott Management, which owns 6% of NXP, released a letter saying the existing offer to buy the company put forward by Qualcomm (QCOM) is too low. The firm said "NXP is worth $135 per share” versus the $110 that had been agreed to from Qualcomm when the deal was announced back in October of last year. According to Elliott, "Qualcomm’s offer of $110 per share is acting as a ceiling” on NXP shares, given other semi stocks have beaten NXP’s share price increase by 25% since the deal was announced. The letter this morning is included as part of a Web site Elliott set up that’s dedicated to the matter.
U.S stocks indexes edged higher on Monday, recovering from a brief uncertainty following an explosion at one of New York's busiest commuter hubs. New York Mayor Bill de Blasio called the incident an attempted terrorist attack after an initial investigation found that a man with a bomb-like device strapped to his body set off the explosion. Interest in the surge in bitcoin and opening of futures trading continued to fuel bets on crypotcurrency related stocks, many of which have risen exponentially in value in the past three months.
The prospect of tax reform has had drugmakers and Wall Street salivating for months. Repatriation of cash held outside the U.S. could be the most important part of the Republican tax bill for the sector, according to a recent Credit Suisse report, which found that American biopharma companies make up one-third of the top 30 U.S. companies with the most offshore cash. The final version of the tax bill, which could be passed by the end of the year, is expected to reduce the tax rate for repatriated offshore cash from 35% to 10% or 14% — a major tax break that could make a slew of dealmaking and share buybacks possible.
Long-term investors and workers hoping that the tax overhaul and repatriation holiday will encourage investment in growth and a rise in wages should brace for disappointment. A spike in share buyback and special dividend announcements this week reveals that companies are more likely to use any money saved on an all-too-familiar item: shareholder returns. Bank of America Corp.(BAC), Home Depot Inc.(HD), Johnson Controls International Inc.(JCI), T-Mobile US Inc.(TMUS), Ciena Corp.(CIEN)and even Madison Square Garden Co.(MSG)are among the companies to unveil new buyback authorizations this week, rushing in even before a final tax bill has been formulated.
An explosion in central New York pushed the dollar lower on Monday, but stock markets recovered after an early dip, once it became clear the situation had been contained. New York police said the explosion rocked the Port Authority Bus Terminal about 7 a.m. local time (12 noon GMT), as the Monday morning rush hour was getting under way. The S&P 500, Dow Jones and Nasdaq indexes rose 0.1 to 0.3 percent when the main U.S. stock markets opened two and a half hours later.
Apple Inc. AAPL is reportedly in the process of acquiring U.K-based Shazam Entertainment. Per TechCrunch and also confirmed by recode, the iPhone maker may pay almost $400 million for the popular app that can identify any song, TV show, movie or advertisement
The seminal financial event of this year, the current decade, and possibly our generation is here: Futures trading in bitcoin has begun. But the derivative that would really damp the current crypto frenzy and make digital tokens a speculator-friendly -- if not investment-worthy -- commodity, currency, tulip, or whatever, isn't futures. It's options. Options could supplement futures contracts in damping irrational exuberance for bitcoin It's hard to see how even existing futures trading rules can deal with something as volatile as bitcoin. Cboe Global Markets Inc. began offering them on Sunday, and soon they'll be available on CME Group Inc. Brokers including E*Trade Financial Corp., TD Ameritrade
Bitcoin futures went live on Cboe Global Markets, the Chicago-exchange group, Sunday night. Both futures and spot bitcoin were trading up Monday morning. Liquidity on the market was thin soon after the launch of the new market and Cboe's website crashed.
It has been more than a month since the last earnings report for Regeneron Pharmaceuticals, Inc. REGN. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Regeneron reported third-quarter of 2017 results wherein both earnings and sales beat expectations on the back of strong performance of eye-care drug Eylea.