Queen Elizabeth II formally opened a new session of Britain’s parliament Thursday. She also set out Boris Johnson’s legislative plans, including plans for Brexit. Yahoo Finance’s Adam Shapiro and Oscar Williams-Grut discuss on On The Move.
The Dow Jones Industrial Average was down more than 750 points in mid morning, while the S&P 500 was off 2.4%. To answer that question, Sundial Capital's Jason Goepfert looked at all the times that the S&P 500, while within 10% of an all-time high, followed up a 0.75% drop with a gap down of 2% or more. The results were good: The S&P 500 gained a median 3% during the next three months.
Gilead's compound, remdesivir, has been rushed into a clinical trial in China, where the illness has infected tens of thousands of people. Remdesivir is the “one drug right now that we think may have efficacy,” Bruce Aylward, an assistant director-general at the World Health Organization, said at a briefing in Beijing. WHO officials and international scientists are in the country assessing the outbreak.
Italian officials on Sunday moved to lock down 12 towns, while there have been some 230 confirmed cases in the country. The pan-European STOXX 600 index (^STOXX) was down by more than 3.8%, with stocks on Italy's FTSE MIB Index (FTSEMIB.MI) sinking by more than 5.7%. Around a dozen towns in Italy, the eurozone's third-largest economy, have been put on lockdown as authorities in the northern Lombardy and Veneto regions race to contain the outbreak.
Duke Energy Corp. confirms that the four partners in the Constitution Pipeline have agreed to abandon the 124-mile project designed to carry natural gas from shale fields in Pennsylvania to New York and New England. “Although Constitution did receive positive outcomes in recent court proceedings and permit applications, the economics associated with this greenfield project have since changed in such a way that they no longer justify investment,” says Duke spokeswoman Tammie McGee. The delays and legal challenges have since driven up the costs by close to 40%.
It has finally happened — coronavirus fears have taken over and panic has set in. Global stocks are plunging on Monday after the number of virus cases outside China surged over the weekend, particularly in Italy, South Korea and Iran. The Dow Jones Industrial Average (DJIA) was set to open 740 points lower as futures sank before the open.
If the latest Wall Street mega-deal doesn't make you want to switch online brokerage accounts for a lucrative sign-up bonus, maybe it should. Wall Street giant Morgan Stanley announced an agreement Thursday to pay $13 billion to acquire the online brokerage E-Trade which has 5.2 million customer accounts. “The combination will significantly increase the scale and breadth of Morgan Stanley's Wealth Management franchise, and positions Morgan Stanley to be an industry leader in Wealth Management across all channels and wealth segments,” Morgan Stanley said in a statement.
A California man who said he wanted to fly to the edge of outer space to see if the world is round has died after his home-built rocket blasted off into the desert sky and plunged back to earth. Feb.
The number of people with $1 million or more in 401(k) accounts in plans run by Fidelity Investments rose to a record 233,000. And the number of IRA millionaires — savers with balances of $1 million or more in accounts held at Fidelity — hit 208,000, also a record. Fidelity 401(k) Millionaire Traits In addition, Fidelity disclosed several of its 401(k) millionaires' traits: The average 401(k) balance for its millionaires reached $1,462,000.
Some of the top holdings include American Express (AXP), Apple (AAPL), Bank of America (BAC), and Delta Airlines DAL , according to Buffett's widely-read annual letter. Buffett wrote that he doesn't view these investments as "stock market wagers — dalliances to be terminated because of downgrades by 'the Street,' an earnings' miss,' expected Federal Reserve actions, possible political developments, forecasts by economists or whatever else might be the subject du jour." Rather than stock holdings, Buffett views these as companies Berkshire Hathaway "partly owns."
Anyone paying attention to finance, markets and the economy doesn't have to look very hard to find complaints that we are on the cusp of a bubble of one type or another.Perhaps the area most often targeted by the bubble believers is tech. I was curious about just how widespread this belief is: “Tech bubble” has doubled on Google Trends this year alone; Google News generates more than 3.6 million hits for the phrase. Defining a bubble isn't too hard and one will do as good as another.
Chinese businesses like Alibaba and Meituan with outsized footprints in the material world are rushing to contain the fallout while virtual denizens ByteDance Inc. and Tencent Holdings Ltd. ride a surge in social media and entertainment. Alibaba Group Holding Ltd. and Meituan Dianping have shed $28 billion of market value since Covid-19 erupted in central China in January because they depend on millions of people and trucks to ferry packages and meals through an increasingly tangled nationwide transport network. WeChat operator Tencent, which flogs virtual goods like costumes and armor in mobile games or sprinkles advertising online, has gained about $18 billion.
Dozens of running enthusiasts wearing nothing but underwear and jogging shoes took part in a race along the Danube river in Belgrade on Saturday. Feb.
“We're a net buyer of stocks over time,” he said on CNBC. Stocks around the world plunged on Monday as the coronavirus outbreak escalated, exacerbating fears that the global economy would seize up. "If you're buying a business, and that's what stocks are... you're gonna own it for 10 or 20 years,” he said.
The biopharmaceutical company has a market cap and enterprise value of $1.03 billion. It has institutional ownership of 96.62% and insider ownership of 0.66%. Over the past 12 months, the stock has bounced 147%.
In this daily bar chart of GILD, below, we can see that prices largely traded sideways the past 12 months. GILD went up and down in about a $10 range from the $61 area on the downside to the $70-$71 area on the upside. Prices crossed above and below the popular 50-day and 200-day moving average lines several times but they are now above both averages which have positive slopes.
These may help eliminate lead-acid batteries, a piece of technology invented in 1859 that still lurks under the hoods of Teslas in addition to the main lithium-ion power source. Supercapacitors have some way to go before they are widely adopted. There is still a gap with the popular lithium-ion units on how much energy they can store, Skeleton Chief Executive Officer Taavi Madiberk admits.
Fluor's next dividend payment will be US$0.10 per share, on the back of last year when the company paid a total of US$0.40 to shareholders. Calculating the last year's worth of payments shows that Fluor has a trailing yield of 2.7% on the current share price of $14.74. Dividends are a major contributor to investment returns for long term holders, but only if the dividend continues to be paid.
Kevin Flanagan, head of fixed-income strategy at ETF powerhouse WisdomTree, has watched fluctuations in bond markets his entire career. Now he's taking a somewhat contrarian view of how investors should be positioning. Look past the current coronavirus concerns, he counsels, and “swim against the tide” to where bond markets will likely settle after the news cycle moves on.
TherapeuticsMD, Inc. (NASDAQ:TXMD) just released its latest annual results and things are looking bullish. Statutory losses were US$0.72 per share, only marginally better than what analysts had forecast. This is an important time for investors, as they can track a company's performance in its report, look at what top analysts are forecasting for next year, and see if there has been any change to expectations for the business.
The annual results for Universal Display Corporation (NASDAQ:OLED) were released last week, making it a good time to revisit its performance. Revenues of US$405m were in line with forecasts, although statutory earnings per share (EPS) came in below expectations at US$2.92, missing estimates by 6.2%. Earnings are an important time for investors, as they can track a company's performance, look at what top analysts are forecasting for next year, and see if there's been a change in sentiment towards the company.
If a company pays more in dividends than it earned in profit, then the dividend could be unsustainable. McDonald's is paying out an acceptable 60% of its profit, a common payout level among most companies. That said, even highly profitable companies sometimes might not generate enough cash to pay the dividend, which is why we should always check if the dividend is covered by cash flow.
ET: How the coronavirus will affect the global economy Goldman Sachs took a knife to its U.S. estimates, shaving 0.2 percentage points off estimated Q1 GDP given the widening coronavirus outbreak. The bank warns that “risks are clearly skewed to the downside” in light of supply chain troubles, and will be felt in the following four ways: The impact of the coronavirus on US growth is likely to come from four main channels, namely 1) reduced US goods exports to China, 2) reduced spending in the US by Chinese tourists and students, 3) a decline in US retailers' services value added through lower US consumption of imported goods, and 4) a decline in US production due to supply chain production d...
European shares plunged 3.7% as of 11:12 a.m. in London after Italy's government imposed a lockdown on an area of 50,000 people near Milan and took other measures as infections there exceeded 130. South Korea's Kospi tumbled 3.9% after the number of cases in the country surged and the government raised its infectious-disease alert to the highest level. “The key risk you're facing is that this coronavirus now via a lot of these unwanted disruptions will actually lead to negative earnings growth and that will potentially scare investors considering where valuations are,” Christian Mueller-Glissman, managing director of asset allocation at Goldman Sachs Group Inc., said in an interview with Bloomberg TV.
Yet cash flows are even more important than profits for assessing a dividend, so we need to see if the company generated enough cash to pay its distribution. Over the last year it paid out 50% of its free cash flow as dividends, within the usual range for most companies. It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and Newell Brands fortunately did generate enough cash to fund its dividend.
There's been a notable change in appetite for Six Flags Entertainment Corporation (NYSE:SIX) shares in the week since its annual report, with the stock down 17% to US$32.63. Analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. Taking into account the latest results, Six Flags Entertainment's eleven analysts currently expect revenues in 2020 to be US$1.47b, approximately in line with the last 12 months.