The Washington Capitals are Stanley Cup champions at last.
The Washington Capitals are Stanley Cup champions at last.
With a jackpot of $1.6 billion, tonight’s Mega Millions lottery drawing is the biggest in history. The Mega Millions drawing will be held Tuesday night at 11 p.m. ET—and the odds are categorically against you. The Mega Millions tax bite, though, is pretty solid.
A common theme is that they are ready to relocate supply chains if the cost of importing Chinese goods becomes prohibitive. "If there was a broad-based tariff on apparel, I think you could see a bit more of an acceleration of the migration out of China into other regions for apparel sourcing," Mitch Butier, chief executive officer of the California label producer, said during an Oct. 23 earnings call. A number of them have already moved out of China," Jean-Jacques Ruest, CEO of the Canadian railway company, said during an Oct. 23 earnings call.
This year, we've witnessed GW Pharmaceuticals gain approval in the U.S. for the first cannabis-derived drug, and we watched as Vermont legalized recreational marijuana use entirely through the legislative process. This began with Cronos Group at the end of February, when it chose to list its shares on the Nasdaq. It was followed just a few months later by Canopy Growth Corp., which became the first marijuana stock to list on the NYSE.
The stock market may have bounced back from its sharp sell-off at the beginning of October, but Morgan Stanley says the selling will pick back up soon. The firm expects the S&P 500 to slide back below the 200-day moving average, a key technical level. Tread carefully in tech and consumer discretionary, Morgan Stanley warns.
Shares of Tilray Inc. (NASDAQ: TLRY) were down 11.6% as of 11:09 a.m. EDT on Tuesday. Tilray's share price plunged 15.6% on Monday, along with major declines for several other Canadian marijuana stocks. Tilray and many of its peers enjoyed huge runs leading up to the opening of Canada's recreational marijuana market on Oct. 17.
Amarin stock exploded in September because it looks like Vascepa will become the next go-to drug for this enormous population. During the 8,179-patient Reduce-It trial, patients given Vascepa in addition to their normal statin treatments were 25% less likely to suffer a major cardiovascular event such as a heart attack. Over the past year, Amarin Corporation actually lost $92 million because sales of Vascepa just haven't kept pace with operating expenses.
Tesla Inc (TSLA.O) shares jumped more than 12 percent on Tuesday after long-time critic and short-seller Citron Research said it had a change of heart and is now betting the electric automaker's stock will rise. The firm said in a research note that Tesla's Model 3 sedan is a "proven hit" and serious competition from other automakers for the plug-in car market has not materialized, marking a sharp reversal from its previous stance. Tesla will release third-quarter earnings after the market close on Wednesday, a week earlier than it has typically reported.
Suze Orman did a smackdown of the FIRE (Financial Independence/Retire Early) movement on Paula Pant’s podcast. Coach Carson posted a balanced, informative response, appreciating Suze’s admonition to be sure you have enough for a risk-free retirement. Suze enumerated a string “what can go wrong” scenarios as evidence that early retirement (on less than $10 million) leaves you vulnerable when life hands you lemons — a whole tree of lemons.
Fidelity, the nation's largest retirement-plan provider, recommends having the equivalent of six times your annual salary saved. To get to that number, Fidelity recommends saving 15 percent of your annual income. Make sure to invest these funds instead of leaving them in a traditional low-interest savings account.
Oct.23 -- Tesla Inc.’s pulled forward its third-quarter earnings release to post-market on Oct. 24. Bloomberg Businessweek's Max Chafkin and Pierre Ferragu, analyst at New Street research, discuss the factors behind the decision and outlook for the electric automaker on "Bloomberg Technology,"
Investors on Wall Street continue to contend with a choppy and uncertain trading environment, even among popular sectors like tech stocks. A growing chorus on Wall Street is sounding the alarm, with analysts at Morgan Stanley warning that the large-cap stocks in the S&P 500 are the only holdout from a “rolling bear market’ that has already savaged pretty much every other asset class, including small-cap stocks, high-yield bonds, and emerging market assets. The fact that the S&P 500 is once again below its 200-day moving average supports this thesis, weighed down by bank stocks.
Jim Cramer says the escalation in the United States' trade war with China could end in an outright cold war that debilitates parts of the stock market.
October has been a wake-up call for investors that the stock market won't go up in a straight line, even if we'd like it to. Sure, Bank of America (NYSE: BAC) has seen its stock catapult higher from its Great Recession lows, but its forward P/E of 9.8 would represent a more-than-decade low for the stock.
Whoever wins the Mega Millions lottery could face over 40 percent in taxes. Lines are growing at convenience stores and gas stations as the Mega Millions lottery grows to its biggest prize ever. The cash option is $904 million, which gives you a lot of options of how to spend it until you take taxes into consideration.
Aurora Cannabis (NASDAQOTH: ACBFF) (TSX: ACB) has sought to make it even easier for U.S. investors to buy its shares by arranging to have its shares listed on the New York Stock Exchange. Beginning tomorrow, Oct. 23, Aurora will join the elite group of cannabis companies whose shares trade on major U.S. exchanges. Getting ready for the increased exposure that a NYSE listing brings takes time and effort, and Aurora Cannabis hasn't wasted any time.
Bank of America Merrill Lynch’s equity and quant team say market signals from the ever-flattening yield curve are clear as day: stock markets are due to begin a new era of elevated price swings. “A flattening yield curve signaled a withdrawal of liquidity and over the last three cycles has preceded rising volatility by a few years,” the team, including Savita Subramanian, wrote in research this week. Bank of America’s call -- echoing others -- comes as investors scramble to judge whether the current turmoil in equity markets represents a blip or fundamental shift in regime.
After delivering a disappointing update on NKTR-214 in cancer patients this summer, Nektar Therapeutics' (NASDAQ: NKTR) shares have been struggling. The company didn't report any news today, so a negative report issued by Plainview LLC this month may be to blamed for its 17.2% tumble today. In February, Bristol-Myers Squibb (NYSE: BMY) inked a blockbuster deal to license rights to NKTR-214 following positive data last year for NKTR-214's use alongside Bristol-Myers' Opdivo.
Caterpillar Inc. reported its "best third-quarter profit per share in (the) company's history," but its shares fell sharply in Tuesday trading, dropping more than 7 percent. The Deerfield, Illinois (NYSE: CAT) heavy-equipment manufacturer reported third-quarter 2018 sales rose 18 percent to $13.5 billion from $11.4 billion a year earlier, and adjusted earnings per share rose to $2.86 from $1.95 in 2017. Shares in Caterpillar fell 7.56 in Tuesday trading, dropping $9.73 to close at $188.98.. Caterpillar mentioned problems on the horizon: "Manufacturing costs were higher due to increased material and freight costs.
U.S. stocks bounced off intraday lows and major indexes trimmed early losses Tuesday, but the S&P 500 still finished lower for a fifth session as a big drop in the Chinese market revived fresh questions about the global economy. The Dow Jones Industrial Average (DJIA) fell 125.98, or 0.5%, to 25,191.43 after being down more than 500 points earlier. (DJIA)On Monday, Dow industrials and the S&P 500 closed lower while the Nasdaq bucked the trend to edge higher.
No matter what your opinions are about Advanced Micro Devices (NASDAQ:AMD), you can agree that it’s never an uneventful day for the semiconductor company. This year, AMD stock has again defied the bears, skyrocketing 127% since the first of January. To put this year’s monster gain into context, AMD shares also had a banner year in 2016, profiting shareholders over 300%.
As shares of Advanced Micro Devices Inc. fall back toward earth, investors have the opportunity to decide whether the current trade-war climate had impinged upon the chip maker’s ability to capitalize of the misfortunes of its main rival. AMD (AMD) is scheduled to report earnings after the market close on Wednesday. AMD’s stock approached its peak for the year in September, following the launch of the company’s Radeon Pro V340 server card in late August and a slew of price upgrades from analysts, but has since fallen into a correction.
October is living up to its infamous reputation as a volatile month for stocks with major indexes down sharply and there is likely more pain ahead for investors, according to one prominent Wall Street analyst. The recent rebound “was a dead cat bounce,” said Michael Wilson, an equity strategist at Morgan Stanley, in a report. After eking out gains last week, the S&P 500 (SPX) is trading below the 200 DMA of 2,768 thus far this week as stocks remain under pressure with third-quarter earnings cycle picking up pace.
Tuesday was another wild ride for investors. Futures were deep in the red early Tuesday and the Dow was off more than 500 points at its lows before markets staged a nice comeback throughout the session though markets never were able to re-take the flatline. The Dow was dragged down on Tuesday by shares of Caterpillar (CAT) and 3M (MMM) after disappointing results, though both stocks closed well of their lows of the session.
Aurora Cannabis, one of the largest Canadian marijuana producers, is going public on the New York Stock Exchange. Aurora is joining a select list of Canadian cannabis producers, including Tilray and Cronos, that are able to list on US-based exchanges.
Fast-food giant McDonald's (NYSE: MCD) has rebounded nicely from a period more than three years ago when it suffered declines in global comparable sales. For 13 quarters in a row, McDonald's has reported positive global comparable sales. On Tuesday, however, McDonald's addressed investor worries with an acceleration in comparable-sales growth and better-than-expected revenue and earnings per share.