Starbucks soared post-earnings, but can it continue? Mad Money host Jim Cramer digs in.
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
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
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.
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.
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.
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.
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.
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
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.
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
Americans will have a hard time finding a bank that pays a higher savings account interest rate than Wall Street giant Goldman Sachs (GS). GS Bank, the firm’s online bank, recently made headlines when it raised its savings rate to 1.2% from 1.05% earlier this month. At 1.2%, GS Bank surpasses the large consumer banks, where most households keep their money.
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
The proposed merger between Rite Aid (NYSE:RAD) and Walgreens Boots Alliance (NYSE:WBA) will come to a vote at the Federal Trade Commission next week and likely faces a lawsuit seeking to block the deal, according to a report. The Capitol Forum, a D.C.-based firm, reported on Thursday that the acting director of the FTC’s Bureau of Competition has recommended a lawsuit, backing staff recommendations. Walgreens and Rite Aid declined to comment.
U.S. West Texas Intermediate and internationally-favored Brent crude oil finished sharply lower last week for the fifth consecutive week. The week started with crude oil under pressure late in the session after posting a fourth straight weekly loss the Friday before. Sellers were influenced by rising production in the United States, Libya and Nigeria which offset an OPEC-led initiative to support the market by cutting production, trimming the global supply glut and stabilizing prices.
Deciding what course to take with tech stocks hasn’t been an easy one lately, giving the rash of downgrades and bearish commentary coming from some prominent Wall Street analysts. Still, it’s tough to ignore the potential value in semiconductor Qualcomm, Inc. (NASDAQ:QCOM). From my vantage point, Qualcomm — down almost 13% year to date — presents a buying opportunity. QCOM stock, which could reach $70 in the next 12 to 18 months — delivering 23% returns — should be owned by investors who are willing to look beyond the noise.
You can add another 20 Sears and Kmart stores to retail’s graveyard. Sears Holdings shld is closing another 20 locations on top of recently announced shutterings, bringing to total store closures to 260 this year for the struggling retailer which is trying unsuccessfully to stanch years of sales declines. The latest closures include 18 Sears stores and two Kmart locations, according to a regulatory filing on Friday by real estate investment trust Seritage Growth Properties, which was spun off by Sears in 2015.
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.
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
Countless workers look forward to retirement and the flexible, laid-back lifestyle it offers. In a 2016 study by the Employee Benefit Research Institute, more than 10% of retirees claimed they were "not at all satisfied" with retirement. Meanwhile, close to 41% of seniors were only "moderately satisfied" with their lifestyle, while less than half of seniors found retirement "very satisfying." The percentage of retirees who identify as "very satisfied" has dropped from 60.5% in 1998 to 48.6% as of last year, which paints a somewhat bleak picture for today's older workers. The survey didn't pin down a cause for retirees' drop in overall satisfaction, but it's fair to say that finances have something to do with it.
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
If Amazon.com Inc hopes to revolutionize grocery delivery, then its bid to buy Whole Foods Market Inc for $13.7 billion will be just the start of a long and costly process. The e-commerce giant would need to add a large network of specialized grocery distribution warehouses, former AmazonFresh employees and logistics experts said. This is something Wal-Mart Stores Inc and other competitors have already done.