U.S. stocks drifted lower Wednesday after the Federal Reserve raised interest rates as expected. Fred Katayama reports.
In response to signing a reimbursement contract with one of the largest insurers in the U.S., shares of Senseonics Holdings (NYSEMKT: SENS), a medical device company focused on blood sugar monitoring, rose 11% as of 10:30 a.m. EDT on Tuesday. Senseonics announced today that Aetna (NYSE: AET) is now offering reimbursement for the company's recently approved Eversense Continuous Glucose Monitoring System (CGM). This is a big deal for Senseonics because Aetna is the third-largest health insurer in the U.S. with more than 22 million lives covered.
Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Eclipse Resources (ECR), which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry, could be a great candidate to consider. This independent oil and gas company has an established record of topping earnings estimates, especially when looking at the previous two reports.
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.
From regional tastes to plant-based alternatives, the year ahead will focus on flexible eating styles. Here are the top five trends to expect in 2019, according to Kroger, the nation’s largest operator of traditional supermarkets: Regional flavors: Consumers will see a growing number of products influenced by local, regional and global tastes. From barbecue sauces to flavorful potato chips, inspiration is coming from Nashville hot chicken, Southern Appalachian pimento cheese and other geographies. Plant-based foods: Consumers are increasingly incorporating plant-based fare into their daily diets. Eating styles: More consumers are opting for different styles, from vegetarian to flexitarian to keto and paleo.
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.
“As much as you can’t believe you are reading this, we can’t believe we are writing this!” Left -- who is also suing Tesla and its leader Elon Musk for inflating its stock -- said in a report today. Tesla’s shares rose as much as 7.5% after the report today, to $280.60. "While the media has been focused on Elon Musk’s eccentric, outlandish and at times offensive behavior, it has failed to notice the legitimate disruption of the auto industry," he wrote.
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.
Johnson & Johnson is making a big bet on skin care. It’s looking to buy all outstanding shares of Ci:z holdings, the makers of the skincare line Doctor See Labo and others. J&J already owns about 20% of the company. Reuters says Constellation Brands is looking to sell off some of its biggest labels, including Clos du Bois and Arbor Mist.
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.
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.
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.
The former law firm of porn star Stormy Daniels' attorney Michael Avenatti is being evicted from its office space in Southern California. It's the same day Avenatti was ordered to pay $4.85 million to a former colleague in a separate lawsuit over back pay. Judge Robert Moss' order against the law firm terminates its lease and requires it to pay $154,000 in four months of back rent and storage space in Newport Beach.
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.
Caterpillar Inc. is indicated to open around 7% lower this Tuesday morning despite what seemed to be good quarterly numbers. Why the disconnect? Investors need to remember that the markets are forward looking and the next quarter or two may not deliver
It was a punishing start for stocks Tuesday as investors reacted negatively to quarterly results from a handful of blue chips and the cessation of a two-day rebound for China’s embattled stock market, reviving fresh questions about global economic growth prospects. The Dow Jones Industrial Average (DJIA) 548.62 points at its low and remained was recently 460 points, or 1.8%, at 24,862. The S&P 500 (SPX) fell 55 points, or 2%, to 2,696, retreating below a psychological and technical mark at 2,700, while the Nasdaq Composite Index (COMP) slid gave up 177 points, or 2.4%, to 7,291.
A Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. Global construction equipment giant Caterpillar (CAT) announced quarterly results that were a bit better than expected. Caterpillar’s construction industries business segment sales grew 16% to $5.7 billion.
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.
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.
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 (CAT.N) disappointed investors on Tuesday by not raising its 2018 earnings forecast yet again, raising fears that the heavy-duty equipment maker may be signalling a slowdown despite posting better-than-expected quarterly profits. The Dow Jones Industrial Average (.DJI), which includes Caterpillar, was down more than 400 in the first few minutes of trading on Tuesday. The company kept unchanged the 2018 adjusted profit per share outlook of $11.00 to $12.00 per share, which did not go down well with investors who were expecting yet another upward revision in the earnings guidance.
US equities took a nosedive Tuesday, extending a rout in global stocks. The Dow (^DJI) slid 1.77%, or 448.1 points, as of 11:46 a.m. ET, as major manufacturers Caterpillar and 3M posted disappointing financial results. The S&P 500 (^GSPC) fell 1.74%,
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.
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.
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%.