- Bloomberg•20 hours ago
Bitcoin Rises as Ripple's Allure Fades for Manic Crypto Traders
The roller coaster that is the cryptocurrency market is alive and well. Ripple, the white-hot cryptocurrency that has more than doubled in the past week, fell as much as 39 percent from the all-high reached yesterday. Bitcoin, which has lost some of its luster as of late to its smaller rival, was up as much as 11 percent Friday. Ripple fell to as low as $2.16 after reaching an all-time high of $3.32 Thursday. The coin was down 16 percent on the day to $2.44 as of 1:12 p.m. in New York. Ripple last week surpassed ether as the world’s second-most valuable cryptocurrency after bitcoin. Coinbase, one of the largest crypto exchanges, said in a Twitter post Thursday by its chief executive officer that
- Zacks•19 hours ago
Exelixis Amends Cabozantinib-Tecentriq Phase Ib Trial
Exelixis, Inc. EXEL announced an amendment to the protocol for the phase Ib trial of cabozantinib combined with Roche Holdings’ RHHBY Tecentriq in patients with locally advanced or metastatic solid tumors. The cohorts will include include patients with NSCLC and CRPC, in addition to previously included patients with renal cell carcinoma (RCC) and urothelial carcinoma (UC). The primary objective in the expansion stage of this trial is to determine the objective response rate in each cohort.
- barrons.com•19 hours ago
Down, Not Out? Why Costco’s Heading for a Combeback
Shares of Costco (COST) took a tumble on Thursday, following the retailer's December sales update. The shares are down again today, but Tigress Financial argues that there are still gains ahead for the stock. Analyst Ivan Feinseth reiterated a Buy rating on Costco, citing accelerating business performance trends, committed membership base, and value-added shopping experience. Feinsteth writes that Costco is putting up strong same-store sales growth, exceeding expectations despite the challenging backdrop for retail. Moreover, he writes that the fact that Costco can raise its membership fees while still growing the size of its membership base demonstrates how loyal its customers are. As such,
- MarketWatch•20 hours ago
Money Milestones: This is how your finances should look in your late 20s
As soon as Tsering Yangchen, a 25-year-old publicist in Minneapolis, started her first job out of college she signed up for her company’s 401(k) plan, meeting the employer match and contributing 7% of her salary. When she left that job for a new one, where she wasn’t able to enroll in the 401(k) plan for a year, she took matters into her own hands, signing up for an individual retirement account and making contributions directly from her checking account. It’s been a year, and she’s now signed up for her 401(k) plan too. Yangchen was inspired to save for retirement after discussions with her boyfriend and his father, both in finance, and exemplifies what most millennials are encouraged to do:
Reuters•2 days agoSears Holdings to close 103 Kmart and Sears stores
Sears Holdings Corp said on Thursday it was shuttering 103 unprofitable Kmart and Sears stores as it continues to streamline operations amid mounting debt and a string of quarterly losses. The department store operator, which has racked up 24 straight quarters of sales declines, said 64 Kmart stores and 39 Sears stores would be closed between early March and early April this year. Sears Holdings, once the largest retailer in the United States, said at the end of October that it operated 1,104 stores, nearly half the 2,019 stores it ran in 2012.
- CNBC Videos•22 hours ago
Former Uber CEO Travis Kalanick to sell $1.4 billion in s...
CNBC's Deirdre Bosa reports on former Uber CEO Travis Kalanick planning on selling 29 percent of his stake in the ridesharing company.
- TheStreet.com•22 hours ago
Cisco Systems Is Entering a Major Transformation That Investors Should Like
Tech has been a hot commodity so far in 2018, with the PowerShares QQQ ETF already rallying about 3.3% this year. Cisco Systems has helped the cause, piecing together its own 3% rally to start the year. Helping matters on Friday morning is an upgrade
The Street•2 days agoGE Could Be Ready to Make Up for Lost Time as Dow Crosses 25,000
We're only finishing up the first trading week of 2018, and it's already proving eventful. For starters, stocks are following through on 2017's uber-bullish price action. The Dow Jones Industrial Average crossed the 25,000 level for the first time in history this week, and investors are looking to even more upside in the year ahead. But the best-performing Dow component this year may surprise you. It's not last year's high flyer Boeing Co. (BA) , or tech giant Apple Inc. (AAPL) . It's serial laggard General Electric (GE) . GE is up around 6.5% year-to-date, outperforming the rest of the market in a big way in the early days of 2018. And as GE's chart shows now, this could just be the beginning
Business Insider•2 days agoMarijuana stocks are getting slammed after report says Jeff Sessions plans to roll back legal pot rules
US Attorney General Jeff Sessions plans to roll back rules that paved the way for states to legalize marijuana, AP reported Thursday. Marijuana stocks slumped after the Associated Press reported Thursday that US Attorney General Jeff Sessions plans to roll back Obama-era federal policiesthat paved the way for states to legalize marijuana, citing anonymous sources familiar with the matter. Several of the largest cannabis growers and other marijuana-related stocks took a hit in trading Thursday, reversing gains earlier in the week fromCalifornia’s full legalization of recreational marijuana.
- Investopedia•2 days ago
The H-1B Visa Issue Explained
President Donald Trump's views on illegal immigration have been widely circulated and commented upon, and the Muslim ban led to protests. But it's his position on highly skilled foreigners working in the U.S. that has a few companies and their investors concerned. An internal memo circulated in the Department of Homeland Security (DHS) has sparked worries about stricter H-1B visa regulations once again. According to media reports, the Trump administration is considering disallowing H-1B visa extensions after the first 3-year extension. Extensions are requested by employers on behalf of immigrant employees with pending green card applications. Trump has called the temporary nonimmigrant H-1B visa
- Investopedia•20 hours ago
If You Invested $100 In Ripple In January 2017, What Would You Have Now?
In the fast-moving world of virtual currencies, it seems there is always at least one currency that's making major moves. Bitcoin and ethereum both saw their values multiply several times over in 2017, largely on the strength of newfound investor interest in the cryptocurrency space, the initial coin offering (ICO) craze, and similar drivers. However, the cryptocurrency with the largest percentage increase in price was ripple (XRP). (See also: How Do I Buy Ripple (XRP) Cryptocurrency?) Though founded in 2012, ripple hovered at just a fraction of one cent per token going into 2017. As of this writing, it is worth more than $3 per token. How much would $100 invested in XRP in early January 2017
- CNBC Videos•yesterday
These 5 stocks could fuel market to new highs
CNBC's Dominic Chu takes a look at five stocks that could bring the market to the next record level if they hit their target price.
- Money Talks News•yesterday
9 Tax Breaks You Can Still Claim for 2018
Your 2017 income tax return is the last chance to claim a number of federal income tax deductions that the tax overhaul killed off. Federal income deductions that weren’t killed off by the tax overhaul met one of three main fates.
- Zacks•2 days ago
5 Best Efficient Stocks to Buy in 2018
Efficiency, which is the ability to transform inputs into outputs, is a potential indicator of a company’s financial health. Companies with favorable efficiency levels are likely to be on investors’ radar irrespective of market conditions. This is because a company with a favorable efficiency level is expected to provide impressive returns as it is believed to be positively correlated with the company’s price performance.
- barrons.com•14 hours ago
Dazed & Confused: Dow Soars 220 Points, Disappointing Jobs Data Be Darned!
Stocks soared to new highs again today, closing out a spectacular start to 2018. The S&P 500 rose 2.6% this week after advancing 0.7% to 2743.15 today, while the Dow Jones Industrial Average advanced 576.65 points, or 2.3%, this week after gained 220.74 points, or 0.9%, to 25,295.87. The Nasdaq Composite gained 3.4% this week after rising 0.8% to 7136.56 today. Today's rally came despite disappointing payrolls data, which proved to be anything but disappointing to traders. As one observer put it before the release, it really was meaningless. The folks at Bespoke Investment Group compare this year to last year: Last year, volatility was at historically low levels with the VIX averaging an unheard
- Phoenix Business Journal•2 days ago
See where Macy’s is closing more stores
Macy’s Inc. (NYSE: M) announced this morning it is closing 11 more department stores. The move is part of Macy’s closing 100 stores nationwide. With the latest closures, Macy’s will have closed 81 stores in that effort. None of the new 11 closures are in Arizona where Macy’s has nine stores. The department store chain has closed 124 stores since 2015. Macy’s executives also said they would be adjusting staffing levels at a number of stores. Among the newest batch of shuttering stores are Macy’s in California, Florida and Idaho. (See the list below). Macy’s reported same-store sales improved 1.1 percent in November and December compared to last year. But the department store chain is still down
Reuters•16 hours agoMorgan Stanley to take $1.25 billion hit in fourth-quarter from tax bill
The net blow of the bill to the bank will include about a $1.4 billion net discrete tax provision, mainly due to the remeasurement of certain net deferred tax assets using the lowered corporate tax rate, the company said in a filing. The sweeping tax code changes enacted in late December cuts the corporate tax rate to 21 percent from 35 percent and were expected to mean short-term pain, but long-term gain for U.S.-based corporations. Morgan Stanley's arch rival Goldman Sachs Group Inc had said on Dec. 29 it expects its fourth-quarter earnings to decrease by about $5 billion due to repatriation tax, the cost of moving money from foreign countries to the U.S., Goldman said in a filing.
Associated Press•16 hours agoYour paycheck may be going up soon because of tax cuts
The $1.5 trillion package provides generous tax cuts for corporations and the wealthiest Americans, and more modest reductions for middle- and low-income individuals and families. Deflecting criticism of the deeply unpopular legislation, they insisted Americans will come to love the new tax law when they see their heftier paychecks this year — with less money withheld in anticipation of lower income taxes. "In February, look at your paychecks, because you'll see the tax relief we delivered," said Rep. Kevin Brady, head of the tax-writing House Ways and Means Committee.
- Investopedia•yesterday
Transocean Stock Breaks Out After AP Report on Trump's Plans
Transocean Ltd. (RIG) shares moved more than 5% higher on Thursday amid reports that the Trump Administration was planning to "sharply" expand offshore drilling. According to an Associated Press report, more U.S. coastal waters would be open to exploration, including the Pacific Ocean for the first time in decades. The total new exploration area is expected to amount to more than one million acres, which bodes well for many rig firms. While Transocean, Noble Corporation plc (NE), Parker Drilling Company Inc. (PKD), Rowan Companies plc (RDC) and other industry players rallied following the news, it is worth noting that the plan faces a lot of opposition that could complicate its implementation.
- CNBC.com•2 days ago
One of the biggest Dow dogs of 2017, Exxon, may be in for a turnaround
Trading Nation: Buy the energy bounce? 21 Hours Ago | 02:45 Some of the biggest Dow dogs are howling this year, and one market watcher sees further upside ahead for one name in particular: Exxon Mobil. After falling 7 in 2017, Exxon shares have rallied 4 percent this week. With a dividend yield of 3.54 percent, the stock is one of the biggest Dow dogs; the classic investing theory calls for buying the Dow stocks with the highest dividend yields. Exxon was positive for the third straight day on Thursday; the energy space appears well-positioned on an intermediate- and long-term basis, said Matt Maley, equity strategist at Miller Tabak, though Exxon is overbought on a near-term basis. Toward
Business Insider•22 hours agoNo one wants to advertise on Snapchat, and the stock is suffering (SNAP)
Snap shares moved lower after the company was downgraded by Cowen on Thursday. John Blackledge, an analyst at Cowen, released the results of his team's survey of 50 senior ad buyers, and the big was that 96% of would prefer to buy ads on Instagram instead of Snapchat. Because of this, Blackledge downgraded Snap to "underperform" from "market perform," and set a price target of $11.
- barrons.com•22 hours ago
Xilinx, Nvidia Best ‘Idiosyncratic’ Chip Names in 2018, Says Goldman
Shares of programmable chip maker Xilinx (XLNX) are up $2.91, over 4%, at $73.40, as the Street responds favorably to the company’s announcement late yesterday its chief executive, Moshe Gavrielov, will retire this month, passing the reins to Victor Peng, a 10-year veteran of the company who has been serving as chief operating officer. Interestingly, Xilinx is one of the few bright spots that Goldman Sachs’s Toshiba Hari sees in 2018, after concluding that semiconductor stocks will not outperform for a third year in a row in 2018. With the median return of chip makers, and chip-equipment stocks, at 58% for 2017, and with expansion in stock multiples to 15 times at the end of the year from 14.9 times a year earlier, on average, Hari now sees multiple risks to the group.
- Zacks•2 days ago
Buy These 4 Stocks on Growing AI Popularity
Artificial intelligence (AI) is taking the world by storm, impacting startups and tech majors in a big way. Incidents like when the greatest Go player Lee Sedol lost to AI program AlphaGo, developed by Alphabet Inc. GOOGL, speaks volumes about the same
Reuters•2 days agoSEC warns bitcoin, cryptocurrency investors at risk
The U.S. Securities and Exchange Commission warned Thursday that investors should "exercise caution" with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors. Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay Clayton and Commissioners Kara Stein and Michael Piwowar said in a statement.
- Zacks•yesterday
The Zacks Analyst Blog Highlights: Apple, Facebook, NVIDIA, Micron Technology and Broadcom
Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple AAPL, Facebook FB, NVIDIA NVDA, Micron Technology, Inc. MU and Broadcom Limited AVGO. Today, Zacks is promoting its ''Buy'' stock recommendations.
