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Bloomberg Market Wrap 7/29: Uber, Lyft and All Eyes on Fed

Jul.29 -- Bloomberg market reporters take a deep dive into all of today's action.

  • Bajaj Finance Limited (NSE:BAJFINANCE): What We Can Expect From This Growth Stock
    Business
    Simply Wall St.

    Bajaj Finance Limited (NSE:BAJFINANCE): What We Can Expect From This Growth Stock

    On 30 June 2019, Bajaj Finance Limited (NSE:BAJFINANCE) released its earnings update. Generally, analyst consensus outlook appear cautiously optimistic, with earnings growth rate expected to be 31% next year, which is within range of the past five-year average earnings growth of 30%. In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Bajaj Finance in the longer term.

  • Introducing Harvest One Cannabis (CVE:HVT), The Stock That Dropped 14% In The Last Year
    Business
    Simply Wall St.

    Introducing Harvest One Cannabis (CVE:HVT), The Stock That Dropped 14% In The Last Year

    For example, the Harvest One Cannabis Inc. (CVE:HVT) share price is down 14% in the last year. Because Harvest One Cannabis hasn't been listed for many years, the market is still learning about how the business performs. Harvest One Cannabis isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS).

  • World
    Reuters

    Zambia determined to find another investor for Konkola mine: mines minister

    The Zambian government is determined to "urgently secure" an investor for Konkola Copper Mines (KCM) once the court processes over the disputed liquidation of the mine are concluded, the mines minister said on Thursday. Vedanta Resources has been locked in a dispute with the Zambian government since May when Lusaka appointed a liquidator to run KCM, which is 20% owned by Zambia's state mining company ZCCM-IH and the rest by Vedanta. "I would like to categorically state that, much as the Konkola Copper Mines matter is in court, government is willing to listen to any progressive talks that will facilitate an amicable exit of the investor," Minister of Mines and Minerals Development Richard Musukwa said in a statement.

  • Trump orders U.S. firms out of China after Beijing sets new tariffs
    Business
    Reuters

    Trump orders U.S. firms out of China after Beijing sets new tariffs

    WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump on Friday said he has ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, throwing a new twist into the bitter trade war between the world's two largest economies. Trump said on Twitter he will issue a response to China's latest tariff plan on Friday afternoon. The president was meeting with his trade team at midday, a senior White House official told Reuters.

  • Is Netflix Losing Its Edge? Stock Continues to Slide
    Business
    Market Realist

    Is Netflix Losing Its Edge? Stock Continues to Slide

    Netflix (NFLX) stock is down about 18% since the company reported its second-quarter results. The streaming giant could lose its disruptor position as the market sees new entrants. Since Netflix posted its second-quarter results last month, its stock has fallen around 18%. Netflix added 2.7 million paid subscribers globally, below its forecast of 5 million.

  • HP CEO Exits, Leaving Its Future Uncertain
    Business
    Market Realist

    HP CEO Exits, Leaving Its Future Uncertain

    HP stock was down 0.16% on August 22 and closed at $18.93. It seems that HP investors were extremely disappointed with the news of HP CEO Dion Weisler leaving the company. HP CEO replaced by printing head Weisler will be replaced by Enrique Lores, who is currently leading HP's imaging, printing, and solutions business.

  • Investors Who Bought ServiceMaster Global Holdings (NYSE:SERV) Shares Five Years Ago Are Now Up 137%
    Business
    Simply Wall St.

    Investors Who Bought ServiceMaster Global Holdings (NYSE:SERV) Shares Five Years Ago Are Now Up 137%

    For instance, the price of ServiceMaster Global Holdings, Inc. (NYSE:SERV) stock is up an impressive 137% over the last five years. In more good news, the share price has risen 1.6% in thirty days. There will continue to be wide discrepancies between price and value in the marketplace...' One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

  • Man Charged in Death of Detroit Girl Attacked by Three Dogs
    U.S.
    Meredith Videos

    Man Charged in Death of Detroit Girl Attacked by Three Dogs

    A man was charged Thursday in the death of a 9-year-old Detroit girl, who was mauled by three dogs despite rescue efforts by neighbors, her father and emergency workers.

  • Trump rips Fed's Powell, demands companies seek 'alternatives' to China
    Business
    Yahoo Finance

    Trump rips Fed's Powell, demands companies seek 'alternatives' to China

    President Donald Trump on Friday excoriated the Federal Reserve and the man he hand-picked to lead the institution, ramping up his relentless critiques by asking whether the Fed was a “bigger enemy” than China. After Fed chief Jerome Powell declared at a conference in Jackson Hole that the central bank was prepared to sustain the U.S. economy with more rate cuts, Trump upped the ante with more broadsides against Fed policy, In a series of posts on Twitter, the president both lambasted Fed policy and demanded that U.S. companies seek alternatives to China as the trade dispute between the two countries takes a turn for the worse.

  • India Inc grows impatient as economy dips and Modi is distracted
    Business
    Reuters

    India Inc grows impatient as economy dips and Modi is distracted

    When Prime Minister Narendra Modi was re-elected in May with a sweeping majority, Indian stock markets jumped to all-time highs as investors anticipated big bang pro-business reforms to revive a flagging economy. Several businessmen say Modi's government needs to take swift action on the economy, but instead it seems preoccupied with the situation in Kashmir, which is under a lockdown after authorities curtailed the autonomy of the restive region. "The speed of decision-making is very good for example in Kashmir, but the speed of decision-making on business matters is not good," said Adi Godrej, chairman of the Godrej Group, which sells everything from electronics to chemicals.

  • First-Time Homebuyers Need More Than Just Lower Mortgage Rates
    Business
    Bloomberg

    First-Time Homebuyers Need More Than Just Lower Mortgage Rates

    Mortgage rates in the U.S. dropped closer to historic lows this week, but that may do little to help first-time buyers as starter homes vanish. The average rate for a 30-year fixed mortgage was 3.55%, down from 3.6% last week and the lowest since November 2016, Freddie Mac said in a statement Thursday. “It's very good news for homeowners looking to refinance,” George Ratiu, senior economist for Realtor.com, said in a phone interview.

  • Is My Ex-Husband Entitled to the Down Payment Money He Put into Our House?
    Business
    PureWow

    Is My Ex-Husband Entitled to the Down Payment Money He Put into Our House?

    Q: “My soon-to-be ex-husband earned a big chunk of money while we were living together, but before we were married. Then, we got married and used $60,000 of that money as a down payment on the home we bought and have lived in ever since, with both of us contributing toward the mortgage. Now, he has moved out and I'm still in the home with our kids.

  • Business
    Barrons.com

    The Dow Fell 475 Points Because Trump Hit Back at China

    Tweet Storm. The three major U.S. stock market indexes dropped sharply after President Donald Trump said he would respond to new Chinese tariffs on U.S. goods and told U.S. businesses to find alternatives to China. After Fed Chairman Jerome Powell said he was prepared to stimulate the U.S. economy if it slowed down, the President tweeted, “My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?

  • Business
    Bloomberg

    Fannie-Freddie Revamp Risks Destabilizing Economy, Democrat Says

    The Senate Banking Committee's top Democrat is warning the Trump administration that carrying out its plan for ending U.S. control of Fannie Mae and Freddie Mac could destabilize the economy if it fails to protect the housing market. Senator Sherrod Brown of Ohio in a Thursday statement pointed to multiple hearings the committee has held this year, during which both Democrats and housing experts cautioned that freeing the mortgage giants from government conservatorship without major reform would be risky. Failing to listen to these important voices does a disservice to communities and puts our housing market and taxpayers at risk,” Brown said in the statement.

  • Why Alibaba Stock Fell after Pinduoduo’s Earnings Report
    Business
    Market Realist

    Why Alibaba Stock Fell after Pinduoduo’s Earnings Report

    Alibaba (BABA) stock dropped 1.90% on August 22 after a 1.11% fall on August 21. The decline in Alibaba stock came after its competitor Pinduoduo (PDD) reported strong results for the June quarter. Pinduoduo stock rose 15.99% on August 21 and carried that momentum into August 22, when it rose 1.59%.

  • Strategist: Investors need to take a step back, look at long term
    Business
    Yahoo Finance Video

    Strategist: Investors need to take a step back, look at long term

    Wild market swings are putting investors on edge. Sneha Jose, Stifel's Director of Investment Strategy & Behavioral Finance joins Yahoo Finance's Jen Rogers, Dan Roberts and Yousef Abbasi, INTL FCStone Director of U.S. Institutional Equities and Global Market Strategist to discuss. She says investors should look at the big picture.

  • Is Zuora (NYSE:ZUO) Using Debt In A Risky Way?
    Business
    Simply Wall St.

    Is Zuora (NYSE:ZUO) Using Debt In A Risky Way?

    Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it seems the smart money knows that debt - which is usually involved in bankruptcies - is a very important factor, when you assess how risky a company is. Ultimately, if the company can't fulfill its legal obligations to repay debt, shareholders could walk away with nothing. While that is not too common, we often do see indebted companies permanently diluting shareholders because lenders force them to raise capital at a distressed price.

  • Here's What You Should Know About AbbVie Inc.'s (NYSE:ABBV) 6.3% Dividend Yield
    Business
    Simply Wall St.

    Here's What You Should Know About AbbVie Inc.'s (NYSE:ABBV) 6.3% Dividend Yield

    Today we'll take a closer look at AbbVie Inc. (NYSE:ABBV) from a dividend investor's perspective. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if AbbVie is a new dividend aristocrat in the making.

  • 3 Top Dividend Stocks With Yields Over 4%
    Business
    Motley Fool

    3 Top Dividend Stocks With Yields Over 4%

    The U.S. economy is still humming along right now, but increasing talk about a potential recession and how it could affect the stock market may have some investors looking to high-yield dividend stocks to weather a potential storm. To help investors track down some of the top dividend stocks, we asked three Motley Fool contributors for some ideas, and they came back with Chevron (NYSE: CVX), Iron Mountain (NYSE: IRM), and AT&T (NYSE: T). Here's why.

  • Why Foot Locker Fell Over 12% after Its Q2 Release
    Business
    Market Realist

    Why Foot Locker Fell Over 12% after Its Q2 Release

    Foot Locker (FL) disappointed as its second-quarter results fell short of estimates. FL stock has fallen over 12% this morning. Foot Locker stock fell after the shoe and apparel retailer's second-quarter sales and earnings fell short of analysts' estimates. President and CEO Richard Johnson confirmed that the second-quarter results “did come in at the low end of our expectations.” However, he remains optimistic and expects to benefit from the back-to-school season and fresh product offerings in this year's second half.

  • Is Vanguard Total Stock Market ETF a Buy?
    Business
    Motley Fool

    Is Vanguard Total Stock Market ETF a Buy?

    Stock picking can be a great way to build long-term wealth, but it isn't right for everyone. If not, there's nothing wrong with putting your investment on autopilot with a portfolio of exchange-traded funds, or ETFs, that allow you to get stock market exposure without relying too much on any individual company's performance. One ETF that could be a good way to get broad stock market exposure is the Vanguard Total Stock Market ETF (NYSEMKT: VTI).

  • Why 1-800-Flowers.com Stock Dropped 12% Today
    Business
    Motley Fool

    Why 1-800-Flowers.com Stock Dropped 12% Today

    What happened Shares of phone and online florist 1-800-Flowers.com (NASDAQ: FLWS) closed 11.9% lower on Thursday, even as the company posted Q4 sales and earnings earlier in the morning that beat Wall Street's estimates. Flowers' sales of $259.4 million were better than the $255.2 million projected for it. Likewise, the company's $0.13-per-share loss was better than the $0.14-per-share loss that analysts had expected to see.

  • Analysts’ Views on Lyft Stock after Lock-In Expires
    Business
    Market Realist

    Analysts’ Views on Lyft Stock after Lock-In Expires

    Lyft beat analysts' expected revenue of $809.27 million and adjusted loss per share of $1.74. The company also raised its guidance based on improved market conditions and sales and marketing efficiencies. This year, it expects its revenue to grow 61%–62% to $3.47 billion–$3.5 billion.

  • Why Fastly Stock Jumped Friday
    Business
    Motley Fool

    Why Fastly Stock Jumped Friday

    The stock's gain follows a series of bullish analyst notes, which seemed to have driven the stock price over the last week. Including today's gain, shares have risen 61% in the last five days alone. So what On Aug. 9, following the company's second-quarter update, Stifel analyst Brad Reback reiterated a buy rating on the stock, noting its attractive valuation.

  • Here's Why Fannie Mae and Freddie Mac Stocks Are Rising Today
    Business
    Motley Fool

    Here's Why Fannie Mae and Freddie Mac Stocks Are Rising Today

    On Wednesday afternoon, it was reported that the U.S. Treasury Department is getting close to releasing its plan to reform Fannie Mae (NASDAQOTH: FNMA) and Freddie Mac (NASDAQOTH: FMCC). To say that Fannie and Freddie's investors have been waiting a long time for some clarity on the future would be a major understatement. Since being rescued by the government in the wake of the financial crisis, all profits of the two agencies have been swept away by the Treasury.