The afternoon's top headlines
The afternoon's top headlines
Shares of Caterpillar Inc. (cat) tumbled 3.9% in afternoon trade, enough to pace the 28 of 30 Dow Jones Industrial Average (djia) components that were declining, after a number of disappointing earnings reports from industrial-sector peers. The SPDR Industrial Select Sector ETF (xli) of which Caterpillar is a component, slumped 1.9% to a 3 1/2-month low, with 68 of 70 equity components losing ground. The biggest loser in the ETF were shares of United Rentals Inc. (uri) which fell 11.7% to a 13-month low after the company beat earnings and revenue expectations, but UBS cut its price target to $180 from $196 citing disappointing rates.
Despite the terrible odds — one in 302.5 million for those keeping score at home — someone will eventually match all six numbers and win the Mega Millions jackpot, which now stands at $970 million. Here are some answers for someone holding that prized lottery ticket for what would be the second-largest lottery jackpot in U.S. history. Lottery officials recommend winners take a deep breath, put their winning ticket in a safe spot and consult with a reputable financial planner before popping over to the lottery headquarters.
U.S. Treasury Secretary Steven Mnuchin tweeted Thursday that he will not be attending the Future Investment Initiative in Saudi Arabia next week. The news comes after prominent members of the world’s business community have been dropping out of Saudi
When the media and investors turn negative on stocks but the “smart money” is bullish, it’s a good time to think about buying. After all, exactly what is the smart money, and how do you know? Lately, several fund managers who pass this test have been pounding the table on Chinese internet names.
Rising profits – Ebitda was up 6 percent, year over year – and that Canadian pipeline sale have helped address Kinder Morgan’s biggest problem, its crushing debt. Thankfully, it provided a strong signal on Wednesday evening that it would.
To understand what it means to be famous like Stormy Daniels, for the reasons she is famous, spend time with her in a public space. On Oct. 15, a California judge threw out the defamation case she filed against Donald Trump. Over the past year, Daniels, 39, has become the Zelig of White House scandals.
"We foresee a cyclical correction approaching and recommend investors to stay selective in Semis," Goldman Sachs said in a note Thursday. Nvidia is Goldman's top choice in the industry. Goldman Sachs warned clients about a downturn coming for the semiconductor sector, but still recommends some chip stocks.
The world's most popular mobile operating system may soon look very different after Google announced that smartphone manufacturers will no longer have free access to popular apps on Android. The licensing fee charge for the Play Store and other Google apps follows a $5 billion fine handed to the technology giant by the European Commission for antitrust violations earlier this year. Until now, Android phones and tablets have all come pre-installed with Google's search engine and Chrome browser, a move that European lawmakers deemed illegal.
Sometimes identifying the best stocks to buy can be difficult, but you could do a lot worse than checking out the stocks selected by one of the world’s savviest hedge fund managers — Warren Buffett. Buffett’s stock picks are a popular source for investors, and for good reason. The billionaire Buffett is many things: He’s among the world’s most successful fund managers, a legendary philanthropist and owns more than 60 companies.
Jim Cramer speeds through his take on callers' favorite stocks, including his favorite pick for "decent growth with good yield."
Marijuana users are cheering the legalization of marijuana for recreational use in Canada, but it's not just pot advocates who are excited. Investors are also upbeat because the recreational market for marijuana represents a massive opportunity for sales growth for leading Canadian cannabis companies, including Tilray Inc. (NASDAQ: TLRY) and Aurora Cannabis (NASDAQOTH: ACBFF). Medical marijuana has been legal in Canada for years, and while medical marijuana sales total in the hundreds of millions of dollars annually, the potential market opportunity associated with recreational use is significantly bigger.
STOCKSTOWATCHTODAY BLOG China Crisis. Chinese stocks took on the chin last night—the Shanghai Composite dropped 2.9%. Energy and materials were the weakest sectors. That has sent U.S. stock-index futures lower as well. S&P 500 futures
When Robinhood launched in 2015, it was touted as an app that allows commission-free trading for everything from stocks to ETFs to cryptocurrencies. But a report from Bloomberg says Robinhood makes more than 40 percent of its revenue from selling its data to high-frequency trading firms. Yahoo Finance's Seana Smith, Dan Roberts and Adam Shapiro talk with Robinhood co-founder Vlad Tenev.
An Uber driver in New York City kidnapped a woman who fell asleep in his vehicle, groped her in the back seat and then left her on the side of a highway in Connecticut, federal authorities said Tuesday. Harbir Parmar, 24, of Queens, was charged in U.S. District Court with kidnapping. "The presumption of innocence remains with my client," Parmar's lawyer, Susanne Brody, told The New York Times at the courthouse after the hearing.
Shares of American Airlines Group (NASDAQ: AAL) popped 6.4% in early trading Wednesday before retracting to close the day up less than 1% -- just 0.9%, to be precise. An upgrade assigned to the stock by Deutsche Bank appears to be the primary reason for the move. A Deutsche Bank analyst upgraded American Airlines stock from "hold" to "buy" on Wednesday, as we're told by our friends at StreetInsider.com.
The midterm elections are less than three weeks away. According to strategists at Barclays, the options market is pricing in a 1.6% swing on election night, a modest swing given the recent volatility we’ve seen in the stock market.
New details have emerged about the killing of journalist Jamal Khashoggi by Saudi agents — involving his beheading and dismemberment upon entering the Saudi consulate in Istanbul, Turkey — thanks to audio files described by Turkish officials. As evidence mounts of the Washington Post columnist’s gruesome death tied to Saudi Arabia, Bay Area tech companies, which have gobbled up billions in funding from the kingdom in recent years, could see that money river dry up as Saudi investment becomes increasingly toxic. President Donald Trump has criticized those rushing to condemn the nation, telling the Associated Press: "You know, you’re guilty until proven innocent." Yet even still, Japanese investor Softbank isn’t stomaching the brutal killing tied to its major investment fund so easily.
For example, USA Compression Partners LP (NYSE: USAC) and CSI Compressco LP (NASDAQ: CCLP) offer investors yields of 12% and 13%, respectively, but they provide a niche service, and results can be volatile. Leverage can be great when things are going well, but can cause problems when times are tough.
Oil prices may be nearing a peak. With both Brent and West Texas Intermediate oil prices bouncing higher in recent months, additional upside to oil prices may be limited in the near term. According to Bank of America analyst Doug Leggate, oil investors should now shift gears from identifying recovery story oil stocks and focus on oil stocks that offer a compelling value and/or high dividend yield.
Chip giant Intel is restructuring its technology and manufacturing business group as it chases more connected device markets and grapples with delays on its next chip generation. In a memo to employees, reviewed by the Business Journal, Group President and Chief Engineering Officer Murthy Renduchintala described splitting the technology and manufacturing business into three groups. The three new groups are technology development, manufacturing and operations and global supply chain.
Kinder Morgan Beats Q3 Earnings Estimates, Improves Leverage Kinder Morgan’s third-quarter results Kinder Morgan (KMI) announced its third-quarter results on October 17 after the markets closed. The company announced an adjusted EPS of $0.21—up ~40%
Inversion is a mental model that involves flipping your outlook to prevent the opposite of what you want to happen from happening. Warren Buffett and his business partner Charlie Munger employed inversion as a business strategy to build Berkshire Hathaway into a powerhouse. In a recent podcast with Brandon of the Mad Fientist, who retired early at 34, productivity expert James Clear said the same strategy Buffett used can help set someone on the path for early retirement.
Key Updates from the Cannabis Sector after Legalization in Canada (Continued from Prior Part) Aurora Sky license On October 17, Aurora Cannabis (ACB) (ACBFF) announced that it received sales licenses from Health Canada. Aurora Cannabis stated that with
Ford Motor Co. is planning to make a few more of its ultra-expensive GT supercars. Citing "unprecedented" demand, the automaker (NYSE: F) on Thursday said it's increasing the production of the Ford GT from an initial run of 1,000 cars to 1,350 cars. The car doesn't come without its problems: Last week, Ford said it's recalling about 200 of the cars it's made so far because there's a risk they might catch on fire.
Investors will be hoping for strength from BABA as it approaches its next earnings release, which is expected to be November 2, 2018. On that day, BABA is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 10.08%. Investors should also note any recent changes to analyst estimates for BABA.