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Yahoo News Brief - June 28, 2018

Trump and Putin will meet next month, Democrats mull the McConnell rule and Germany is out of the World Cup. Here's your Yahoo News Brief with Stephanie Sy for Thursday June 28.

  • Advanced Micro Devices’ (AMD) Supercomputer to Hit the Market at the Turn of the Year
    Business
    SmarterAnalyst

    Advanced Micro Devices’ (AMD) Supercomputer to Hit the Market at the Turn of the Year

    The device is made for workloads that are aided by higher frequencies, such as electronic design automation, high-frequency trading and HPC. AMD’S senior vice president and chief technology officer of AMD, Mark Papermaster remarked on the company’s recent success: “It’s been a fantastic year in the supercomputing space as we further expanded the ecosystem for AMD EPYC processors while securing multiple wins that leverage the benefits AMD EPYC processors have on HPC workloads.

  • These numbers show Suze Orman is right about needing $5 million to retire
    News
    MarketWatch

    These numbers show Suze Orman is right about needing $5 million to retire

    Suze Orman broke the internet earlier this month when she told the “Afford Anything” podcast that those buying into the FIRE movement (financial independence, retire early) better save at least $5 million to achieve that goal. “Her views ruffled a lot of feathers, but after crunching the numbers, I have to agree — $5 million sounds about right if you want to retire before the age of 60,” the Financial Samurai blog’s Sam Dogen said. Dogen says 40 is the absolute earliest he’d recommend anybody retire, although even then, that’s asking a lot out of your investments.

  • Why Halliburton, Tyson Foods, and Amarin Slumped Today
    Business
    Motley Fool

    Why Halliburton, Tyson Foods, and Amarin Slumped Today

    Halliburton (NYSE: HAL), Tyson Foods (NYSE: TSN), and Amarin (NASDAQ: AMRN) were among the worst performers on the day. Shares of Halliburton dropped nearly 6% on a difficult day for companies throughout the oil and gas sector. For Halliburton, the concern is that falling prices could prompt clients to cut back on their production, and that in turn would reduce the amount of services and supplies that the oil-field specialist would be able to deliver.

  • News
    MarketWatch

    3M board OKs $10 billion share buyback program, dividend

    3M Co. (mmm) said late Tuesday its board of directors has authorized the buyback of up to $10 billion of 3M's shares, replacing the company's existing repurchase program. In the same statement, the company said its board declared a dividend of $1.36 a share for the fourth quarter of 2018. The dividend is payable Dec. 12 to shareholders of record on Nov. 23.

  • Walmart Says Flipkart CEO Has Resigned After Misconduct Investigation
    Business
    Bloomberg

    Walmart Says Flipkart CEO Has Resigned After Misconduct Investigation

    Binny Bansal, 37, stepped down immediately following an independent probe into the allegations, which the executive denies, Walmart said. “While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgment, particularly a lack of transparency, related to how Binny responded to the situation,” Walmart said in a statement.

  • Apple co-founder Steve Wozniak: Tesla makes so many mista...
    Business
    CNBC Videos

    Apple co-founder Steve Wozniak: Tesla makes so many mista...

    CNBC's Scott Wapner sits down with Steve Wozniak, who co-founded Apple, to discuss why he is losing faith in Tesla.

  • Here's What Marijuana Stock Aurora Cannabis Is Saying About Its Future
    Business
    Motley Fool

    Here's What Marijuana Stock Aurora Cannabis Is Saying About Its Future

    Aurora Cannabis' (NYSE: ACB) latest quarterly earnings suggest its aggressive strategy, which includes 25 acquisitions so far, is paying off. The company's sales are soaring, and with Canada's recreational market only four weeks old, the future appears bright. Is Aurora Cannabis a pot stock worth buying?

  • 4 Stocks Insiders and Warren Buffett Are Crazy About
    Finance
    Insider Monkey

    4 Stocks Insiders and Warren Buffett Are Crazy About

    Warren Buffett is arguably the greatest investor of all time. Over his career, Buffett's investing prowess formed one of the greatest conglomerates of all time and generated a lot of value for investors. Meanwhile, company insiders generally have a better understanding of a company than most investors.

  • Business
    CNBC

    Analysts are missing the mark on shares of Apple and FANG, Cramer says

    Jim Cramer reviews the negative coverage of Apple, Facebook, Amazon, Netflix and Alphabet's stocks. CNBC's Jim Cramer is tired of seeing negative Wall Street coverage suffocate the stocks of Apple AAPL and FANG, his acronym for Facebook FB , Amazon AMZN , Netflix NFLX and Google, now Alphabet GOOGL .

  • Should You Buy Qualcomm for Its 4% Dividend Yield?
    Business
    Motley Fool

    Should You Buy Qualcomm for Its 4% Dividend Yield?

    Qualcomm (NASDAQ: QCOM) shed more than 10% of its market value this year after it avoided a takeover bid by Broadcom, lost its own takeover bid for NXP, and faced fresh regulatory probes and lawsuits from OEMs -- most notably Apple (NASDAQ: AAPL) and Huawei -- which claimed that its wireless licensing fees were too high. Qualcomm tried to offset some of the damage with a $30 billion buyback plan, but the chipmaker's fourth-quarter report didn't boost investor confidence. For the first quarter, Qualcomm expects its revenue to drop 13%-26% annually due to an 18%-26% drop in its MSM chip shipments and unresolved issues at its licensing business, but for its non-GAAP EPS -- again lifted by buybacks -- to rise 7%-17%.

  • Boeing Stock Drops After Continued Bad News for Its 737 Jets
    Business
    Bloomberg

    Boeing Stock Drops After Continued Bad News for Its 737 Jets

    Low October shipments of the 737 put Boeing at risk of missing annual delivery targets for its largest source of profit as the planemaker works to ease parts shortages that have snarled production. Boeing will need to deliver 72 of its single-aisle workhorse in November and again in December to reach its planned build rate, Bloomberg Intelligence analyst George Ferguson said in a report to clients Tuesday. Boeing shipped just 43 last month.

  • JP Morgan slashes its price target for Apple again
    Business
    Yahoo Finance Video

    JP Morgan slashes its price target for Apple again

    JP Morgan cut its price target for Apple for the second time this month. The firm also trimmed its earnings estimates, citing modest declines in iPhone shipments for this year and next.

  • Cisco’s shakeup: 8 key changes that have rocked the company this year
    Finance
    American City Business Journals

    Cisco’s shakeup: 8 key changes that have rocked the company this year

    Cisco Systems has undergone a sea of internal changes recent months, including the departure of numerous key executives and major layoffs at the company's San Jose headquarters, as CEO Chuck Robbins aims to pivot an enterprise giant to a software and subscription-focused business. Among the changes that have rippled through the company this year: High-profile executive departures, groups merging and layoffs. At the center of the shakeup is the company’s newest executive Maria Martinez, who was hired this spring to lead its new Customer Experience group.

  • Why General Electric, Advance Auto Parts, and Vodafone Jumped Today
    Business
    Motley Fool

    Why General Electric, Advance Auto Parts, and Vodafone Jumped Today

    The stock market went through some big swings on Tuesday, as the Dow Jones Industrial Average was up as much as 75 points and down as much as 200 before settling for a roughly 100-point decline. Major benchmarks initially bounced back from Monday's lows on hopes that the trade environment globally would improve, but stocks in the industrial manufacturing sector held the overall market back despite fairly good performance from technology stocks. Some companies saw particularly positive news lift their shares, and General Electric (NYSE: GE), Advance Auto Parts (NYSE: AAP), and Vodafone (NASDAQ: VOD) were among the best performers on the day.

  • Victoria’s Secret parent L Brands could bring back its swimsuit business, analysts say
    News
    MarketWatch

    Victoria’s Secret parent L Brands could bring back its swimsuit business, analysts say

    L Brands Inc. could bring back the Victoria’s Secret swimsuit line now that the company has signaled no strategy is off limits if it improves profitability, Wells Fargo analysts say. L Brands’ (LB)  portfolio includes Victoria’s Secret and Bath & Body Works. Wells Fargo upgraded L Brands to outperform from market weight, with analysts seeing a turnaround on the horizon as the company takes an “‘all options on the table’ mentality.” Analysts don’t expect a turnaround in the near future, but shuttering Henri Bendel and considering options, including a sale, of the La Senza business shows that the company has taken on a new focus.

  • Dollar Tree (DLTR) Earnings Expected to Grow: Should You Buy?
    Business
    Zacks

    Dollar Tree (DLTR) Earnings Expected to Grow: Should You Buy?

    Dollar Tree (DLTR) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended October 2018. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 20.

  • 3 Dividend Stocks to Fund Your Retirement Nest Egg
    Business
    Motley Fool

    3 Dividend Stocks to Fund Your Retirement Nest Egg

    Whether you're eyeing a retirement date 10 years away or 40 years in the future, dividend stocks can play a crucial role in helping you to build long-term wealth. For instance, tech giant Apple currently pays a dividend of $2.92 per share each year for a yield of about 1.3%.

  • Time to Buy Nvidia (NVDA) Stock on the Dip Before Q3 Earnings?
    Business
    Zacks

    Time to Buy Nvidia (NVDA) Stock on the Dip Before Q3 Earnings?

    Shares of Nvidia NVDA have plummeted over 30% since they hit their all-time high at the start of October. Amid broader market uncertainty, concerns remain that historically cyclical chip stocks will continue to decline. Nvidia’s chips help power everything from gaming to datacenters.

  • Altria Group (MO) vs. Philip Morris (PM): Hedge Funds Have a Clear Favorite
    Finance
    Insider Monkey

    Altria Group (MO) vs. Philip Morris (PM): Hedge Funds Have a Clear Favorite

    The 13F filings show the funds' and investors' portfolio positions as of June 30. In this article, we look at what those funds think of Altria Group Inc (NYSE:MO) based on that data. Altria Group Inc (NYSE:MO) was more profitable than PM in 2017, in fact being one of the 11 Most Profitable Companies In America in 2017, though it could muster less than 1/3 of Apple Inc. (NASDAQ:AAPL)'s immense $45.69 billion in earnings.

  • What Analysts Expect from JCPenney’s Q3 Revenue
    Finance
    Market Realist

    What Analysts Expect from JCPenney’s Q3 Revenue

    Will JCPenney’s Q3 Results Bring Investors Some Hope? JCPenney’s (JCP) revenues fell 4.1% and 7.8%, respectively, in the first and second quarters of fiscal 2018. Overall, JCPenney’s revenue fell 6.0% to $5.50 billion in the first six months of fiscal 2018.

  • GE Surges on $4 Billion Plan to Speed Cut to Baker Hughes Stake
    Business
    Bloomberg

    GE Surges on $4 Billion Plan to Speed Cut to Baker Hughes Stake

    GE will sell as many as 166.2 million shares in the oilfield-services provider through a secondary offering and a stock repurchase by Baker Hughes, the companies said in statements Tuesday. Culp’s decision punctuates GE’s pivot away from the oilfield businesses that had been championed by former CEO Jeffrey Immelt, who spent $10 billion on deals in the decade through 2013 and agreed in 2016 to merge GE’s crude-related assets with Baker Hughes. “We like seeing GE’s new CEO Larry Culp hasten the pace of the company’s portfolio breakup to generate sale proceeds to de-lever the balance sheet,” Deane Dray, an analyst at RBC Capital Markets, said in a note to clients.

  • Will Walmart's E-Commerce Success Continue When It Reports Earnings?
    Business
    Motley Fool

    Will Walmart's E-Commerce Success Continue When It Reports Earnings?

    Walmart (NYSE: WMT) has surprised many investors with its significant move into the realm of e-commerce. The company has long been the largest brick-and-mortar retailer, but was slow to adapt to the growing trend of online sales. The company has been targeting year-over-year online sales increases of 40% this year, on top of the 44% gains it achieved last fiscal year.

  • United Parcel Service Inc (NYSE:UPS) Will Pay US$0.91 In Dividends
    Finance
    Simply Wall St.

    United Parcel Service Inc (NYSE:UPS) Will Pay US$0.91 In Dividends

    Let’s take a look at United Parcel Service’s most recent financial data to examine its dividend characteristics in more detail. Is it the top 25% annual dividend yield payer? How does United Parcel Service fare?

  • Tilray reports lower pot prices, tighter margins
    Finance
    Yahoo Finance

    Tilray reports lower pot prices, tighter margins

    Tilray (TLRY) reported solid revenue but a decline in average selling prices in the third quarter as the Canadian cannabis producer works to address a growing medical and adult-use market. Although Tilray more than doubled the amount of cannabis sold in the third quarter of 2018 over last year, average selling prices fell by $1.32 per gram, putting pressure on margins. Gross margins were about 30% in the third-quarter versus 55% in the same period last year.

  • Business
    Reuters

    GE speeds plan to raise $4 billion cash, lifts sagging shares

    NEW YORK/HOUSTON (Reuters) - General Electric Co (GE.N) plans to raise $4 billion (£3.08 billion) in needed cash by year end, the company said on Tuesday, speeding its planned sale of a stake in oilfield services unit Baker Hughes (BHGE.N). Before the announcement, prices on a number of its bonds had fallen far below par value, after new Chief Executive Officer Larry Culp noted the "urgency" of shoring up the conglomerate's weak finances. GE said it will sell up to 101.2 million Baker Hughes shares on the open market and that Baker Hughes will buy 65 million of its own shares from GE, using a $1.5 billion repurchase arsenal Baker Huges already has authorized.