The afternoon's top headlines
The afternoon's top headlines
Shares of Advanced Micro Devices Inc. (amd) tumbled 7.3% in afternoon trade, enough to pace the decliners in the semiconductor sector, after bearish note on the company from New Street Research and recent downbeat reports on the sector. On Friday, New Street analyst Pierre Ferragu initiated coverage of AMD with a sell rating and stock price target of $18, which was 27% below current levels, saying he sees a "hard stop" in momentum around the corner. Morgan Stanley said in a note Thursday that it expects broad-based lowered fourth-quarter guidance when chip makers report third-quarter results, driven by "pronounced weakness" in autos and a slowing in industrial.
With some Canadian pot stocks posting triple-digit return rates this year, many retail investors have looked north to pour cash into cannabis. U.S. cannabis companies are worth a lot more than their current valuations suggest since federal illegality has put undue pressure on the industry, said David Wenger, a New York attorney and senior editor of the Cannabis Law Digest.
Cleveland-Cliffs (CLF) released its third-quarter earnings today before the markets opened. Its revenue came in at $741.8 million, which was 24.3% higher YoY (year-over-year), beating analysts’ estimate of $732 million according to the consensus compiled by Thomson Reuters. In its second-quarter results, it beat the consensus estimate.
Tesla CEO Elon Musk announced on Twitter on Thursday that a lower-cost Model 3 was immediately available for order on the company's website. The electric car will have a base price of $45,000 and is eligible for federal and state tax rebates. Tesla shares were down more than 3% Friday after — they gained as much as 2.2% earlier in the session.
Shares of PBF Energy Inc (NYSE: PBF) tumbled as much as 10.9% on Friday, joining a sectorwide sell-off that also saw refiners Valero Energy (NYSE: VLO), Phillips 66 (NYSE: PSX), Marathon Petroleum (NYSE: MPC), and HollyFontier (NYSE: HFC) take it on the chin by sinking more than 5% at one point in the day. A trio of factors seems to be driving these declines.
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.
On CNBC's "Mad Money Lightning Round", Jim Cramer said Arrowhead Pharmaceuticals Inc (NASDAQ: ARWR) is a great speculative stock. Cramer is willing to endorse AT&T Inc. (NYSE: T), but he thinks Verizon Communications Inc. (NYSE: VZ) offers more safety
Madison Gesiotto, National Diversity Coalition for Trump, and Democratic strategist Al Mottur on how former presidential candidate Hillary Clinton said that her husband’s affair with Monica Lewinsky was not an abuse of power.
Now Crown Prince Mohammed bin Salman could become the biggest risk to his own project. Everything changed when Jamal Khashoggi walked into the Saudi consulate in Istanbul on Oct. 2 and didn’t come out. Prince Mohammed, who’s denied any knowledge of Khashoggi’s fate, still has his defenders -– notably Donald Trump.
Unfortunately for its shareholders, there was a speed bump on the road to rebound last quarter: The company reported this week that revenue shrank, and growth in its vital "strategic imperatives" businesses slowed. Seriously, when IBM's legacy mainframe business is the strongest performer in a given quarter, one has to see that as a problem.
Delta is adding a new California connection from its Atlanta hub by springtime. Beginning April 22, Delta Air Lines Inc. (NYSE: DAL) expects to offer one daily flight between Ontario International Airport and Hartsfield-Jackson Atlanta International Airport and then add a second flight by June 9. Delta operates a hub at Los Angeles International Airport, but the new service will add another connection between Atlanta and the L.A. Basin on 180-seat Boeing 737-900ER aircraft.
Despite the many perks of early retirement — waking up whenever you want, for example — it wasn’t the easiest decision. Earnings tend to peak around 48 for men and about 39 for women, according to an analysis by PayScale.
Legacy landline telecom CenturyLink, Inc. (NYSE: CTL) gets plenty of grief. And understandably so, considering that its legacy business, copper wire landline and internet connections is a steadily declining business while fiber and wireless technologies
What happened Shares of Yandex N.V. (NASDAQ: YNDX) dropped 17.8% on Thursday following reports that Russia's state-owned Sberbank may take a controlling stake in the country's leading internet search company. More specifically, according to sources speaking
It's even better when you know that the dividend is a big one! You'll get more of those good feelings if you add high-yielding Magellan Midstream Partners, L.P. (NYSE: MMP), General Mills, Inc. (NYSE: GIS), and Tanger Factory Outlet Centers, Inc. (NYSE: SKT) to your income portfolio. It has also been reworking older brands, notably with new yogurt and ice cream products.
Less than five years after it was created as a master limited partnership, San Antonio-based pipeline and storage terminal company Valero Energy Partners LP is merging back with its parent company. Valero Energy Partners (NYSE: VLP) announced after close of market on Thursday that it is merging with Valero Energy Corp. (NYSE: VLO), its general partner Valero Energy Partners GP LLC and Forest Merger Sub LLC, a subsidiary that was incorporated in Delaware as a merge vehicle by Valero on Tuesday. Under a merger agreement filed with the U.S. Securities and Exchange Commission, Valero will buy all outstanding shares of VLP stock at $42.25 per share in a transaction that is expected to be worth $950 million.
The stock market had a tough session on Thursday, with the Dow Jones Industrial Average finishing down over 300 points. Investors continued to worry about rising interest rates in the U.S., but they also turned their attention to the global macroeconomic picture, where new concerns about the prospects for growth in areas like Europe and China weighed on sentiment. Company-specific news hurt certain stocks, and Activision Blizzard (NASDAQ: ATVI), United Rentals (NYSE: URI), and Gap (NYSE: GPS) were among the worst performers on the day.
Goldman Sachs analyst Toshiya Hari reiterated his 'Buy' rating for Nvidia and added the chip-maker to Goldman’s 'Conviction Buy' list.
Cybersecurity company Palo Alto Networks (NYSE: PANW) won a big upgrade today when analysts at R.W. Baird announced they're assuming coverage of the stock and raising their price target to $250 a share. If they're right about that, Palo Alto Networks is worth more than 23% more than it currently costs. Many companies offer cybersecurity services, but which one is the best to invest in?
An analyst downgrade based on housing market outlooks has sent stocks from Lowe’s and Home Depot down over the last two days. Both Home Depot and Lowe’s are in downtrends dating back to September. On Wednesday, shares in Lowe’s and The Home Depot were slumping after disappointing housing market data led a key analyst to downgrade his ratings and slash price targets, and both stocks continued the slump into a second day on Thursday.
One look at the headline numbers might have had Intuitive Surgical (NASDAQ: ISRG) investors worried. Revenue grew a modest 14%, but earnings were only up 2%? This is, after all, a company that trades for over 50 times earnings. But worry not. The devil
Shares of ServiceSource (NASDAQ: SREV), a provider of outsourced inside sales and customer service solutions, are being obliterated today. The stock is down 46% as of 11:07 a.m. EDT on Friday after the company shared preliminary third-quarter results and revised its full-year guidance.
The recent weakness in shares of semiconductor manufacturer Nvidia Corp. ( NVDA) presents an opportunity for tech investors to buy the chip stock at a discount price, according to one team of bulls on the Street. Shares of Nvidia have lagged the chip sector since the start of the month, down roughly 17.8% compared to the iShares PHLX Semiconductor ETF's (SOXX) 9.6% loss over the same period.
People get sick regardless of the economic cycle, so companies that cater to healing them often outperform during downturns, and their stocks are considered "defensive." Healthy and dependable dividends can also contribute to stabilizing portfolio returns in good times and bad. Two successful blue-chip stocks in the healthcare industry are British GlaxoSmithKline plc (NYSE: GSK) and Eli Lilly (NYSE: LLY). Investors like both stocks for their dividends and consistent performance, but the companies are really quite different, with GlaxoSmithKline diversified into vaccines and consumer products, and Eli Lilly focused on pharmaceuticals.
Thai Airways International PCL (THAI.BK) is considering the purchase of Airbus SE (AIR.PA) A350s or Boeing Co (BA.N) 777X jets as part of a plan to renew its widebody fleet, a senior executive said on Friday. The airline submitted a plan to its government to buy 23 jets worth 100 billion baht ($3.07 billion) including some widebodies, but it was last month sent back to the new Thai Airways leadership team for a three-month review. "Hopefully the figures will not change too much because we need room for expansion," Thai Airways Vice President Alliances and Commercial Strategy Krittaphon Chantalitanon said of the order size on the sidelines of an industry conference.