Bloomberg•19 hours agoBank of America Warrant Holders Could Reap 4,000 Percent Returns
Holders of a little-known security tied to Bank of America Corp.’s stock price may be rolling in the dough. A series of securities known as Bank of America TARP B warrants, issued in the wake of the financial crisis in 2009 with a strike price of $30.79, are set to pay out after the stock surged past that point for the first time on Friday. The warrants last traded at $2.86, the highest price in more than six years.
Reuters•6 hours agoFord unveils future Ranger pickup for segment rivals dominate
Ford Motor Co on Sunday will officially take the wraps off its long-awaited Ranger midsize pickup truck, a year ahead of its arrival in showrooms, as rivals consolidate positions in a segment Detroit automakers once gave up for dead. Ford executives did not disclose prices or fuel efficiency ratings for the new Ranger during a briefing for the media ahead of the official unveiling at the North American International Auto Show in Detroit. More than two years ago Ford telegraphed its decision to re-launch the Ranger midsize truck in North America after killing the model in 2011.
- The Street•yesterday
These Are the 20 Best Stocks to Own as Millennials Take Over the Stock Market
Millennials ruin everything, right? Wrong, according to a 2018 outlook note from Fundstrat's Thomas Lee. According to Lee, the millennial demographic is "now kicking in," and it could provide an enormous tailwind for U.S. GDP and equity valuations over the next 10 to 20 years. Millennials are the largest generation ever at 95 million strong. While the millennial age bracket is largely considered 20 through 36, the median age for the generation today is 26.5 years old. As the young adults of America get older, they're amassing more money to invest and are aging into buying their first cars and homes. According to Fundstrat, the age group is not even in its prime income earning phases yet. The
- MarketWatch•22 hours ago
Why it makes more sense to rent than buy
Most Americans (64%) live in a county where renting takes up a smaller portion of one’s paycheck than buying, according to a report released Thursday by real estate data firm Attom Data Solutions. “The buy-versus-rent calculus is shifting toward renting being more affordable,” said Daren Blomquist, vice president at Attom Data Solutions. With a strong jobs market they want to stay mobile and often can’t afford to buy near urban centers where they’re more likely to get a job and a job at higher wages, he said.
- Bloomberg•2 days ago
Wal-Mart Restructures Store Roles to Streamline Business
A day after embarking on a pay hike, Wal-Mart Stores Inc. is taking steps to shake up management at thousands of its stores. The world’s biggest retailer is removing about 3,500 store co-managers, a salaried role that acts as a lieutenant underneath each store manager, according to people familiar with the move. It’s also adding about 1,700 assistant store managers, a slightly lower-paid role, who will oversee fast-growing areas like online orders, one of the people said. All co-managers will be notified Friday, and those affected will be able to apply for other roles, said the people, who asked not to be identified because the move hasn’t been announced publicly. The overhaul aims to weed out
- Yahoo Finance•2 days ago
The Trump tax cuts aren’t helping CenturyLink workers
In an email to employees on Jan. 11, CEO Glen Post said, “We cannot afford merit increases across the organization at this time…. The pay freeze affects non-union employees, who account for about 64% of CenturyLink’s 39,000 workers. As Post indicates, CenturyLink has been struggling for several years, amid retrenchment in the market for broadband and networking services.
- Fox Business•2 days ago
Laid-off Sam's Club employees reach out to BJ's for work
Newly laid off Sam’s Club employees have turned to BJ’s Wholesale, Inc. for work after Wal-Mart (NYSE:WMT), the retailer’s parent, announced it was closing more than 60 locations across the country on Thursday. BJ’s Wholesale Club said in a statement that it has received “numerous inquiries from Sam’s Club employees” since the news of the shutdowns were announced, adding that it is accepting resumes. “BJ’s Wholesale Club is hiring, and anyone interested in joining our team can go to bjs.com/careers or visit their local club,” the company said to FOX Business.
- CNBC Videos•2 days ago
Bitcoin Investment Trust announces stock split
CNBC's Seema Mody reports the Bitcoin Investment Trust has split the stock.
- Bloomberg•2 days ago
Bitcoin Fund's 91-for-1 Share Split Is Another Dot-Com Flashback
Here’s one more way cryptocurrencies are mimicking the dot-com frenzy as they capture popular attention: massive stock splits. Greyscale Investments announced that its Bitcoin Investment Trust -- an open-ended fund that provides the purest exposure to owning the most popular currency short of owning the underlying asset -- will undergo a 91-for-1 split on Jan. 26. That’ll turn the 1.9 million shares currently outstanding into a whopping 174.4 million. Based on today’s trading, it would cut the stock price from around $1,950, where it currently sits, to roughly $21. The move underscores the immense demand for the fund and promises to make it a more tradable vehicle. It may, however, exacerbate
- The Street•1 hour ago
Video: This Is the One Number You Need to Know to Rescue Your Retirement
Consumers should aim to save 15% of their income in a 401(k) plan, according to Dan Houston, President, Chairman and CEO of Principal Financial (PFG) . "15% of your income today [should be] deferred for long-term retirement needs," Houston said, adding that raising 401(k) contributions lower one's annual tax bill. Money added to a 401(k) is pre-tax.
- MarketWatch•18 hours ago
What this financial adviser learned about retirement when she retired
As Ellen Siegel transitions into retirement, she’s experiencing the push and pull of giving up her 37-year career as a financial planner. On the one hand, the 68-year-old loves the freedom that comes with less workaday commitments. But she also admits that it’s tough to jettison a job she knows so well. “It’s hard to let go,” said Siegel, a semiretired Certified Financial Planner in Miami. In 2016, she started moving from what she calls “a six-day workweek to a three-day workweek.” “I enjoy the work and the clients,” she said. “But I’m getting older and I have other interests, like doing environmental education. I want to do more of that while I still can.” Advisors spend countless hours helping
- Zacks•2 days ago
Monsanto Displays Robust Growth Drivers Amid Headwinds
On Jan 12, we issued an updated research report on premium agricultural chemicals firm Monsanto Company MON. Over the last month, shares of this Zacks Rank #3 (Hold) stock yielded a return of 1.2%, outperforming 0.9% growth recorded by the Zacks classified industry. Monsanto reported better-than-expected first-quarter fiscal 2018 earnings (ended November 2017).
- Bloomberg•yesterday
Saudi Binladin Shareholders May Have Settled With Government
Some shareholders of Saudi Arabia’s biggest construction company may have transferred stock to the kingdom to “settle outstanding dues,” but the company remains private, Saudi Binladin Group said in a statement on Saturday. Bakr Binladin, a scion of the closely-held firm and the half-brother of al-Qaeda founder Osama Bin Laden, has been swept up in a corruption crackdown with other billionaires and princes since November. Saudi authorities have said that they expect to collect as much as $100 billion.
Yahoo Finance•2 days agoAmericans reveal their top money goals for 2018: is yours on the list?
According to a new report by NerdWallet, 84% of people made money-related resolutions for 2018. If you’re hoping to save money this year, you’re in good company: 60% of people listed saving money as their top goal. Paying down debt, sticking to a budget, and improving credit scores were other popular resolutions.
- MarketWatch•2 days ago
Investors quit playing defense as stock market sets string of records
The going has been good in the U.S. stock market, and investors, perhaps to their eventual regret, don’t seem to expect that to end soon. Amid repeated records for the major indexes, historically low volatility, and a nearly unprecedented length of time since the S&P 500 SPX, +0.67% has dipped even 5%—the kind of mild decline that is typically quite common—market participants have pulled back on any kind of security or strategy that could act as an offset against a market retreat, apparently viewing the current environment as one where insurance against losses is unnecessary. People have been hedging for years and it hasn’t been profitable, so they’re throwing in the towel,” said Michael Matousek, head trader at U.S. Global Investors Inc., who added that his firm’s options desk had been seeing lower and lower demand.
- Zacks•2 days ago
The Zacks Analyst Blog Highlights: Celgene, Amgen, Exelixis, Alexion and Vertex
For Immediate ReleaseChicago, IL – January 12, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks
- CNBC Videos•2 days ago
These two stocks have been untouchable in 2018
The “Fast Money” traders discusses these two untouchable stocks driving markets higher and what stocks to buy at all-time highs.
Reuters•2 days agoCorporations may dodge billions in U.S. taxes through new loophole: experts
A loophole in the new U.S. tax law could allow multinational corporations like Apple Inc to avoid paying billions of dollars in taxes on profits stashed overseas, according to experts. Stemming from a Republican overhaul of international business taxes, the loophole involves the tax rates - 15.5 percent or 8 percent - that companies must pay on $2.6 trillion in profits they are holding abroad. By manipulating their foreign cash positions, a determining factor under the new law, a U.S. multinational could potentially save money by shifting profits to the lower rate from the higher one, according to Stephen Shay, a senior lecturer at Harvard Law School.
Business Insider•2 days agoCadillac could be the next Tesla if General Motors markets it right (GM, TSLA)
General Motors could brand its Cadillac as the next Tesla given the right marketing ploy, Adam Jonas of Morgan Stanley said. The automotive company is undervalued because investors have not properly gauged the potential of Cadillac. The luxury vehicle's biggest market is China, representing an upside for General Motors' stock.
- Zacks•2 days ago
Zacks Earnings Trends Highlights: Citigroup, JPMorgan, Bank of America, Goldman Sachs and Morgan Stanley
• The big banks will kick-start the Q4 reporting cycle for the Finance sector, with a host of big one-time charges related to the tax law change likely making headlines in the mainstream media. • Total Q4 earnings for the S&P 500 index are expected to be up +8.8% from the same period last year on +7% higher revenues. The revisions trend for Q4 estimates has been very favorable, with earnings estimates holding up better than has been the case in any other recent period.
- Investopedia•2 days ago
Charles Scwhab's Sonders: Stock Market Pullbacks in 2018 Would Be Healthy
With the stock market surging in 2017 and the Dow Jones Industrial Average surpassing 25,000 for the first time in early January, investor optimism is at levels not seen since the beginning of 2009. As a result, Liz Ann Sonders, chief strategist at Charles Schwab, said that some pullbacks in stocks this year would be "healthy." According to Sonders, when the stock markets hit milestones, it tends to boost optimism on the part of investors. She pointed to the weekly survey conducted by the American Association of Individual Investors revealing that the ratio of bulls to bears is slightly below 80%. This means that the majority of individual investors polled think the stock market will continue
The Street•yesterdayWhat Is Walmart's Long Game With Sam's Club?
What in the world's going on with Sam's Club? That was the big question among Wal-Mart Stores Inc. (WMT) investors Friday, Jan. 12, a day after the superchain announced it was closing 63 Sam's Clubs throughout the country — or roughly 10% of its stable. While Walmart played off the shutterings as a shift in real estate strategy, emphasizing plans to convert 12 of those locations into e-commerce fulfillment centers for its warehouse arm, industry sources told TheStreet on Friday that Walmart has a one clear intention — to optimize its supply chain model across Walmart, Sam's Club and Jet.com. In the short term, Walmart will use those dozen warehouses to distribute Sam's Club products in online
Business Insider•2 days agoA popular bitcoin stock announced a 91-for-1 split that could make it more accessible to the masses
Thomson Reuters GBTC, a bitcoin investment trust, tries to track the price of bitcoin with its stock price. The company announced a 91-for-1 stock split, which will bring down the price of a single share dramatically, making it more accessible to retail
- MarketWatch•yesterday
Oilfield-services stocks are about to stage a big rebound, Credit Suisse says
After a difficult 2017 for the energy sector, this is the right time for investors to buy shares of oilfield-services and equipment companies, according to Credit Suisse analyst James Wicklund. Shares of oilfield-services companies plummeted as crude oil prices tumbled in 2014 and 2015. But as oil rallied in 2016, the stocks were even more volatile than the commodity, as investors looked ahead. The action was brutal when the rally stalled in 2017. Here’s a four-year chart for West Texas intermediate crude oil (WTI) CL1, +1.34% : Here’s the action over the same period for the S&P 1500 Composite Oil and Gas Equipment and Services subsector: You could have made a lot of money if you had precisely
- MarketWatch•18 hours ago
4 simple and effective ways to help a young person get a jump on retirement
There’s plenty of stressful news these days, and by and large I’m used to hearing or reading about unpleasant developments. But I was particularly alarmed by a report this fall that Congress was considering drastic cutbacks in the contribution limits to 401(k) and similar retirement plans. Currently, the maximum annual contribution to such plans is $18,500 ($24,500 for workers age 50 and older). These contributions are tax-deferred, meaning the money isn’t taxed until it is withdrawn, presumably after retirement when workers may be in lower tax brackets. Some House Republicans were thinking of reducing tax free or tax deductible contributions to as little as $2,400. The difference between death
