Facebook's chief product officer reveals how the social network will help you find a date.
Facebook's chief product officer reveals how the social network will help you find a date.
Stock-index futures pointed to a punishing start for Wall Street Tuesday as a two-day rally for China’s stock market fell apart, reviving questions about economic growth in the world’s second-largest economy and sparking a global equity selloff. Investors were digesting a heavy deluge of earnings from major companies, including Caterpillar Inc. and McDonald’s Corp. Dow Jones Industrial Average futures (YMZ8) fell more than 400 points at their low and remained down 369 points, or 1.5%, at 24,925.
Home Depot and Lowe’s are ready to roll out the red carpet to Sears and Kmart customers – and profit big-time from doing so. The now bankrupt owner of Sears (SHLD) and Kmart stores racked up $5.7 billion and $1.6 billion in sales, respectively, last year in home appliances, consumer electronics, lawn and garden equipment, tools and hardware, automotive parts, housewares and sporting goods, Jefferies analyst Jonathan Matuszewski estimates in a new report. Taking into account Sears’ plan to close 142 namesake and Kmart stores as part of its recent bankruptcy, Matuszewski thinks there is $650 million and $200 million in annual sales from hard goods merchandise up for grabs from Sears and Kmart, respectively.
With earnings season hitting a crescendo this week, investors are looking closely at the specific prospects for certain corners of the market, and that's contributing to disparities among the various major benchmarks followed most often by investors. Amid the crosscurrents, marijuana stocks took particularly hard hits, and New Age Beverages (NASDAQ: NBEV), Tilray (NASDAQ: TLRY), and Canopy Growth (NYSE: CGC) were among the worst performers on the day. All three of these stocks have given back some of their gains following the long-awaited legalization of recreational cannabis in the Canadian market last week. In the month leading up to the Oct. 17 start date for legal cannabis sales, New Age Beverages tripled in value, while Tilray had more than doubled since the end of August, and Canopy Growth had seen more modest gains of between 10% and 20%.
The largest U.S. wireless carrier knocked up to $750 off the price of some of Apple's new phones, launched in September, as it looks to gain more share in a saturated market. Verizon shares rose slightly to $55.20 in pre-market trading. The company said it added a net 295,000 phone subscribers who pay a monthly bill during the third quarter, beating the estimate of 161,000 provided by research firm FactSet.
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.
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.
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.
Strategies can be employed to reduce the amount of your win that is taxed, although they are best explored with the help of an experienced tax advisor. While it's anyone's guess who will end up winning the Mega Millions and Powerball jackpots, there's at least one guaranteed recipient of a chunk of the loot — the IRS. With the Mega Millions jackpot at $1.6 billion and Powerball's top prize at $620 million, that tax bill will be hefty even if the winner employs strategies to reduce their taxable income.
MARKET PULSE 3M Co. (MMM) stock dropped 6.3% in Tuesday premarket trade after the company reported third-quarter profit and revenue misses and issued downbeat 2018 guidance. Earnings for the latest quarter rose to $1.54 billion, or
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.
President Donald Trump announced a new 10% tax cut would come into effect before the midterms, intended only for the middle class, not for businesses—nor the rich. Congress isn’t in session, congressional leaders haven’t heard about it, nothing has been drafted, and Trump seemed to have invented it from whole cloth on Oct. 20, based on a confirmation provided by a White House spokesperson who spoke to CNBC. Trump’s talk of a 10% tax cut comes a few weeks after the House took advantage of the attention focused on the Senate confirmation hearings for Supreme Court justice Brett Kavanaugh to pass $3.8 trillion in additional tax cuts on top of the December 2017 changes.
Later this week, the long-awaited 34-mile sea bridge connecting mainland China to Hong Kong and Macau will finally open. In a ceremony on Tuesday that Chinese president Xi Jinping will reportedly attend, the bridge will officially open. Some critics see the Hong Kong-Zhuhai-Macau Bridge as an attempt by mainland China to tighten its grip on Hong Kong, which is an autonomous region.
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.
The shooting happened Sunday afternoon, Stacy Drakeford, director of Washington police and fire services, said in a statement. Drakeford said after the car was stopped, the driver got out of his vehicle with a gun. The officer then shot the man, who was identified as Cedric Pritchard of Washington.
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 Monday as stocks struggle for direction with third-quarter earnings cycle picking up pace.
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.
Last week, Energy Transfer LP (NYSE: ET) emerged on the scene after the former Energy Transfer Equity completed the acquisition of its affiliate Energy Transfer Partners in a unit-for-unit exchange that simplified this complex midstream franchise. The transaction also created a much stronger company that has the financial resources to fund a significant slate of expansion projects. The new Energy Transfer is a behemoth in the midstream sector.
Beth Comstock, Nike board member and former vice chair of General Electric, weighs in on the future of General Electric under new CEO Larry Culp.
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.
Analysts’ Views: Is It Time to Look at Gold Miners? (Continued from Prior Part) Factors impacting Yamana’s estimates Yamana Gold (AUY) stock has outperformed its peers (GDX) YTD (year-to-date). Until October 11, the stock has lost 13.1% against Agnico
shares rose Tuesday after it posted stronger-than-expected third quarter earnings and said it added more telephone users to its network than analysts had anticipated. Verizon said earnings for the three months ending in September came in at $1.22 per share, well ahead of the $1.19 forecast and up 24.5% from the same period last year. "Verizon has posted a third quarter of strong operational and financial performance," said CEO Hans Vestberg.
Canadian pot stocks are getting hit hard across the board today. As of 1:21 p.m. EDT, for example, shares of Canopy Growth Corporation (NYSE: CGC) and Cronos Group (NASDAQ: CRON) were both down by 11.2%, whereas Tilray's(NASDAQ: TLRY) stock had fallen by 14.4%. Canopy, Cronos, and Tilray all seem to be succumbing to a so-called "sell the news" event.
Maybe it’s just a sign that autumn is here, but marijuana stocks like Tilray and Aurora Cannabis have suddenly turned from green to red. Key stocks in the budding cannabis sector have lost more than 20% in the past week—a figure that is typically used to measure a bear market. Meanwhile, the Horizons Marijuana Life Sciences ETF, which is traded on the Toronto Stock Exchange, fell 11.6% Monday and 24.3% in the past week.
Caterpillar notified dealers it would increase some prices 1 to 4 percent worldwide starting in January. Caterpillar, an economic bellwether expected to report record earnings this year, is feeling the pinch as trade frictions boost metal costs.
Wall Street analysts expect Ford's earnings to fall from the third quarter of 2017. Ford has refreshed the Explorer twice since its 2011 debut, but its age is hurting Ford's pricing power. 1. How soon will Ford's new products arrive?