Yahoo Finance’s Seana Smith on the stocks making headlines in midday trading Tuesday.
Yahoo Finance’s Seana Smith on the stocks making headlines in midday trading Tuesday.
Tuesday was not a good day on Wall Street, as markets reacted negatively to a range of factors including global macroeconomic fears of a slowdown in China and their potential impact on earnings of big multinational corporations. DISH Network (NASDAQ: DISH), 3M (NYSE: MMM), and Compass Minerals International (NYSE: CMP) were among the worst performers on the day. Shares of DISH Network dropped 8% after the satellite television provider suffered a downgrade from an investment analyst company.
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.
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.
Harley-Davidson Inc. announced one of its largest motorcycle recalls in recent years Tuesday. The Milwaukee motorcycle company will voluntarily recall approximately 238,300 bikes worldwide in the 2017 and 2018 model years due to a hydraulic clutch assembly issue. In a Securities and Exchange Commission filing Tuesday morning, Harley-Davidson estimated that the recall would cost the company about $35 million, which the company will assume in the fourth quarter of 2018.
Citron Research’s Andrew Left, a vocal and long-term Tesla short, said in a report Tuesday that the electric-car maker is snatching customers from BMW, Mercedes, Toyota and Honda. In a Bloomberg Television interview, he said Chief Executive Officer Elon Musk has distracted investors from a company that’s turning a corner. “Elon Musk has made such a sideshow of himself that people started to forget about -- including myself -- the underlying business,” Left said on Bloomberg TV.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Seana Smith to discuss the latest market moves.
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.
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.
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.
The stock market may have bounced back following its sharp sell-off at the beginning of October, but Morgan Stanley says the selling is going to pick back up soon. Tread carefully in tech and consumer discretionary, Morgan Stanley warns.
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.
Caterpillar Inc (CAT.N) tried on Tuesday to ease mounting concerns about China and global demand after it affirmed its 2018 profit estimate, a move that investors feared signalled a cap in earnings growth and sparked a sell-off in its shares. The Deerfield, Illinois-based company has boosted the full-year profit outlook twice in the first two quarters of this year. The move came days after China reported the weakest economic growth since the global financial crisis, and the International Monetary Fund cut the global growth outlook for 2018 and 2019.
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.
As U.S. corporations prepare to post their most recent quarterly earnings results, investors will be keeping a close eye on Big Tech, which bore the brunt of the recent spike in global market volatility. While many bulls are calling for a full tech
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.
Hackers have hijacked the website of a major conference in Saudi Arabia and placed an image of the murdered journalist Jamal Khashoggi on its homepage. The conference, dubbed “Davos in the Desert”, is due to take place this week in Riyadh but has been overshadowed by the withdrawal of several high-profile attendees over the murder of the Saudi dissident. The second annual Future Investment Initiative conference has billed itself as “a blueprint for the 22nd century” that is bringing together “the world’s most visionary and influential leaders in business, government and civil society”.
Gaming operator Caesars Entertainment Corporation (NASDAQ: CZR) boasts multiple upside catalysts that imply the stock is undervalued, according to Morgan Stanley. The Analyst Morgan Stanley's Thomas Allen initiated coverage of Caesars Entertainment
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%.
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.
It’s still unclear how Trump will propose to reduce the tax burden on middle-class Americans, but one of the most straightforward ways would be to lower rates by 10 percent for single filers making up to $82,500. U.S. income tax rates are graduated and income dollars get taxed in chunks as they move up through the brackets -- which means wealthy Americans would also get to apply the reduced rate on their first dollars of income. “A millionaire gets the same size tax cut,” said Kyle Pomerleau, an economist at the conservative Tax Foundation.
(Bloomberg) -- With semiconductor stocks in retreat, Texas Instruments Inc.’s earnings report on Tuesday will be among the most closely watched for clues about demand for chips used across a broad spectrum of products.The world’s largest maker of analog
How Energy Transfer Stock Has Fared (Continued from Prior Part) Moving averages Let’s see where Energy Transfer (ET) stock might go from here. Energy Transfer stock is currently trading at $16.47, almost 6% and 3% below its 50-day and 200-day moving
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.
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.
How Energy Transfer Stock Has Fared (Continued from Prior Part) Total returns Energy Transfer (ET) stock has returned (including dividends) only 0.5% so far this year. In comparison, the Alerian MLP ETF (AMLP) returned approximately 3%, and broader markets