Lemon laws can get you out of a sour car deal.
If the man often hailed as the original "Dr. Doom" is right, the stock market could see another "lurch" higher — at which point investors may want to cash out quickly and run for cover. Marc Faber, the editor of "The Gloom, Boom & Doom Report' and a perennial bear, isn't backing down from his latest dire prediction that would send stocks plummeting by 40 percent or more. The Nasdaq is being driven by very few stocks," said Faber on Friday's " Trading Nation ." That rally "is not a particularly healthy sign from a technical point of view, and valuations are very high," the investor added.
It has been a rough stretch for Wall Street honcho Bill Ackman. The hedge-fund manager, who runs Pershing Square and boasts a net worth of $1.4 billion, reportedly locked horns with former Vice President Joe Biden at a dinner in Las Vegas last month, according to Fox Business. and the New York Post. Biden—still reeling from the death of his 46-year-old son, Beau Biden, who lost a battle with brain cancer two years ago—cited his son’s death as the central reason that he didn’t make a run for the White House in 2016. According to the reports, Biden grew emotional as he explained his decision to a room of high-profile attendees, concluding with, “I’m sorry. I’ve said enough.” At that moment, Ackman
I heard a rumor out there that Walmart (WMT) might consider acquiring Costco (COST) to offset the Amazon (AMZN) buyout of Whole Foods (WFM) . Just a rumor. However, even if this turned out to be true, these would not be the same type of deals. First, Costco is near all-time highs, where savvy buyers, of which Walmart is among the savviest, don't buy. Savvy buyers like to buy assets, and everything else, near lows, and sell them near highs. Amazon didn't agree to buy Whole Foods at its all-time high, near $60, in 2013. They waited until no one appreciated the asset, and after a 50% crash, they made their offer. No, Amazon isn't getting Whole Foods at that extreme discount, but they will get it
The most important air show of the year is always held in Europe. Airbus (NASDAQOTH:EADSY) -- operating on its home turf -- usually makes a point of outpacing its American rival Boeing (NYSE:BA) in the order race. Last year, Boeing's order haul at the Farnborough Airshow was so dismal that the company felt the need to fudge the numbers in its end-of-show press release to save face. However, Boeing didn't have any trouble selling airplanes at this week's 2017 Paris Air Show. The launch of the new 737 MAX 10 and solid demand for the Dreamliner widebody allowed Boeing to score a clear victory over Airbus in terms of deal activity. Firm order totals were relatively similar Looking just at new firm
Infosys Ltd, India's second-biggest software services exporter, is re-evaluating its long-term targets because tougher market conditions have made them appear "daunting", the company's chairman said on Saturday. Infosys Chief Executive Officer Vishal Sikka had said earlier that the IT services company was likely to struggle to reach its ambitious $20 billion revenue target by 2020 due to a challenging market environment. "The 2020 goals certainly appear daunting in the timeframe in which these goals have been talked about because of the kind of headwinds and the shift in marketplace that we have seen," company chairman R. Seshasayee told his last annual meeting before his planned retirement in May next year.
By Aziz El Yaakoubi DUBAI (Reuters) - A senior United Arab Emirates official said on Saturday that if Qatar did not accept an ultimatum issued by fellow Arab states which imposed a boycott this month on the tiny Gulf Arab nation, there would be a "parting of ways". The 13-point list of demands from Saudi Arabia, Egypt, Bahrain and the UAE include closing the Al Jazeera satellite television network, curbing relations with Iran, shutting a Turkish base in Doha and paying reparations. The demands are apparently aimed at dismantling Qatar's two-decade-old interventionist foreign policy, which has reflected the clout generated by its vast natural gas and oil wealth but incensed conservative Arab peers over its alleged support for Islamists they regard as mortal threats to their dynastic rule.
Bitcoin burst into our financial consciousness like a fiery comet, setting the internet ablaze with visions of upending the existing global money system. Yet, by its nature as a cybercurrency, whose legitimacy only exists in the ether, its credibility leaves much room for debate. HowMuch.net on Wednesday put things into perspective and demonstrated that for all the buzz and excitement bitcoin has generated, it still has a long way to go to be even remotely relevant. The current value of all the bitcoin BTCUSD, -3.07% in the world is worth about $41 billion, according to the cost-estimating website. That is undoubtedly more money than most Americans will ever see in their lifetime. But when
At just 27 years old, the blogger behind the Money Wizard — who goes by the pen name Sean online — has banked more than $181,000. "Probably what's most driving me [to retire early] — I just want freedom," he told Business Insider. Ultimately, Sean's philosophy for building wealth is based on calculating the value of his time, in dollars.
Strategists at Bank of America Merrill Lynch are skeptical that higher demand would be the solution. "While most investors blame supply for today's low oil prices, demand has also failed to improve at the speed required to rebalance the global oil market. Looking into 2H17, we now doubt that demand growth will accelerate sufficiently and see downside risks to our forecasts of 1.3 million b/d in both 2H17 and 2018.
Crude oil has officially entered a bear market, and Commodities king Dennis Gartman told CNBC the pain is far from over. In a recent interview, the editor and founder of The Gartman Letter said oil conglomerate OPEC was losing the war on oil , especially in light of the ascension of Saudi Arabia's new crown prince, Mohammed bin Salman. Crude oil is down nearly 20 percent in 2017, and is tracking for its biggest six-month drop since the late 1990s.
The Jeff Bezos empire is massive. It encompasses not just e-commerce, but also news organizations, robotics companies and coupon sites. Oh, and ever heard of Google, Airbnb or Uber? Jeff Bezos is an investor in those companies, too. Bezos is the third-richest person in the world, trailing only Bill Gates and Warren Buffett, according to the Forbes Billionaires List. With a net worth of $84.7 billion, Bezos has made a number of investments and acquisitions. Here is a snapshot of his empire, as compiled by Visual Capitalist: Bezos has made the acquisitions through a variety of vehicles. Amazon AMZN, +0.24% has made its own acquisitions, including the recent $13.7 billion purchase of Whole Foods
China’s Belt and Road Forum, hosted with great fanfare, signals the priority of this flagship connectivity initiative while also underlining its credentials as the new “shaper” of global trends and norms. The policy initiative aims to enhance China’s centrality in the global economic unilateral approach in how the project is conceived and implemented so far belies the rhetoric of multilateralism emanating from Beijing. Taking inspiration from the ancient Silk Road trading route, China’s One Belt One Road initiative, or OBOR, hopes to link more than 65 countries, encompassing up to 40 percent of global GDP.
Ivanka Trump must testify in a dispute with an Italian shoemaker over one of her company's shoe designs, a judge said Friday. U.S. District Judge Katherine Forrest rejected a request by the senior White House aide's lawyers that she be blocked from submitting to a deposition in the trademark infringement lawsuit brought by Aquazzura Italia SRL against her and her company IT Collection LLC. The Florence, Italy-based company sued President Donald Trump's daughter last year, saying her Hettie shoe was a "virtually identical" knockoff of its popular Wild Thing Shoe, including nearly the same color, shape and tassel on the heel.
Biotech stocks have been soaring over the last few years due to an uptick in innovation and a growing demand for healthcare services across the board. As a result, valuations across this high-flying space have ballooned -- making it increasingly difficult to suss out attractive bargains. Having said that, the top biotechs Celgene Corp. (NASDAQ:CELG) and Gilead Sciences (NASDAQ:GILD) are the rare exceptions to this general trend. Read on to find out why these two biotech titans might be compelling buys right now. Celgene's cellar-dwelling valuation might be a once-in a lifetime buying opportunity Celgene's industry-leading sales growth has apparently fallen on deaf ears of late. The company's
Wall Street is still trying to gauge the impact of Amazon.com, Inc.’s (NASDAQ:AMZN) proposed $13.7 billion acquisition of Whole Foods Market, Inc. (NASDAQ:WFM). In fact, it seems one of the big winners is actually Microsoft Corporation (NASDAQ:MSFT). Well, let’s face it, AMZN will need to devote substantial resources to the deal, which means less attention to its AWS (Amazon Web Services) business.
Here's the bad news: The average monthly Social Security retirement benefit was recently $1,365 per month, or about $16,000 per year, with the maximum benefit for those retiring at their full retirement age recently at $2,687 per month -- or about $32,000 annually. Clearly, Social Security isn't going to give any of us a luxurious retirement. There's good news, though: There are many ways that you can generate retirement income. It's smart to spend a little time figuring out how much money you'll need in retirement, and then planning how you can produce your needed cash flow. Here are a dozen strategies to consider. 1. Delay retiring This one won't win a popularity contest, but it can be very
The Great Restructuring in retail continues. In the wake of a disappointing holiday season, J.C. Penney (JCP) said recently that it will close 138 stores stores by the end of the summer. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing
Wall Street may be about to send a powerful message to everyone should Staples (SPLS) get taken over. "I think what some of the private equity guys are saying is that not everything will be destroyed by Amazon (AMZN) ," TheStreet's founder and Actions Alerts PLUS charitable trust portfolio manager Jim Cramer said in an interview. Cramer added, "Eventually there could be a sense everything has been oversold." A deal for Staples is reportedly right around the corner. Private equity firm Sycamore Partners is said to be in advanced talks to acquire the office supplies retailer in a deal that could be worth more than $6 billion. Sycamore, which beat out private equity firm Cerberus Capital Management
A "high-level view is in order" of chipmaker Advanced Micro Device's (AMD) fight against Intel (INTC) for server chips, Rosenblatt Securities Hans Mosesmann wrote on Friday. He reiterated his "Buy" rating on AMD's stock with a price target of $20 per share. Mosesmann called out his colleagues on the street for failing to give AMD credit for what it had accomplished when it unveiled its "Epyc" server microchip. "Firstly, the amusing consensus view the day after the EPYC launch on the 20th is that it is a solid product (enough to gain some incremental share), and that only time can tell how it all plays out as Intel (INTC: Sell) responds," he noted. The chip will be very additive to value, Mosesmann
Shares of Rite Aid Corporation (NYSE:RAD) have been a serious disappointment this year. Walgreens Boots Alliance Inc (NASDAQ:WBA) announced its intention to acquire Rite Aid more than a year and a half ago. With the Federal Trade Commission dragging its feet, it has been the cause of heavy frustration from both sides.
"You'll know it's the 'big top' when millennials start buying," Bank of America (BAC) analyst Michael Hartnett said in a note Friday. Millennial investment is the classic late-cycle signal. Millennials have only 30% of their assets allocated to equities, whereas older age groups have 46%. Once the catch-up begins, the market could be nearing a peak before a downturn, according to Business Insider. The uptick in mobile trading platforms might stir more millennials to invest in equities since they already spend a great deal of time on mobile devices. Most millennial trades skew toward futures and derivatives, TD Ameritrade (AMTD) Director of Trading Victor Jones said. Hartnett said the end of
Many Americans live paycheck to paycheck, struggling just to meet their immediate financial needs. But if you can break that cycle and start looking at ways to invest for the future, you'll learn that there are many resources available to you to help make it easier. Below, we'll look at five of the best ways you can save for key future financial needs and start moving your financial picture in the right direction. 1. Open an IRA The simplest way to start saving for the future is through an IRA. With two basic types of IRAs, traditional and Roth, you can get either immediate up-front tax savings or tax-free withdrawals when you need your money in retirement. Along the way, the IRS won't touch
Everyone’s obsessing over FAAMG stocks, and for good reason. Facebook (FB), Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and Google, now known as Alphabet (GOOG), are on a tear for 2017, rising nearly 30%, on average. And today I’m going to show you two funds that invest in these companies while offering higher dividends than any of these stocks pay individually. Of course, everyone has heard of Facebook, Apple and Google. (And in case you missed it, my colleague Brett Owens revealed five individual tech stocks he likes now on June 19.) But hardly anyone has heard of either of these high-yielding tech funds. I’m talking about the BlackRock Science and Technology Trust (BST) and the Eaton Vance