- TheStreet.com•9 hours ago
9 Tech Stocks That Got Hit the Hardest on Friday's Selloff
The tech-heavy Nasdaq declined 2.0% on Friday, compared to the S&P 500's fall of 2.1% and the Dow's almost 700-point decline, or 2.5%. Several Apple chip suppliers experienced some collateral damage when Apple gave lower-than-expected guidance on iPhone unit sales for the March quarter.
- MarketWatch•6 hours ago
Apple has $163 billion to burn, and Tim Cook plans to spend it
Apple Inc. left things vague last month when it announced a plan to invest money from its sizable cash balance into the U.S. economy, but the company was more direct about its plans Thursday — it’s going to spend more than $160 billion of its own money. “Our current net cash position is $163 billion, and given the increased financial and operational flexibility from the access to our foreign cash, we are targeting to become approximately net-cash neutral over time,” Chief Financial Officer Luca Maestri said on the company’s earnings call. Translated from corporate speak, that means Apple (AAPL) plans to spend that $163 billion and eventually stop collecting huge stores of cash as it has over the past decade, when the company built up about $284 billion in cash reserves while using more than $100 billion in debt to fund shareholder returns and other activities.
- Bloomberg•6 hours ago
Glaxo, Reckitt Submit Only Bids for Pfizer's Consumer Unit
GlaxoSmithKline Plc and Reckitt Benckiser Group Plc are the only companies to have submitted non-binding bids for Pfizer Inc.’s consumer business after rival candidates walked away, according to people familiar with the matter. Pfizer plans to open a data room for Glaxo and Reckitt to start due diligence on the assets before submitting final offers in the next few weeks, the people said, asking not to be identified because the matter is private. French drugmaker Sanofi, Switzerland’s Nestle SA and health care giant Johnson & Johnson were among companies to consider and then decide against bidding for the business, the people said.
- Bloomberg•yesterday
Wynn’s $7.5 Million Settlement Involves Paternity Claim
Steve Wynn’s secret $7.5 million payment to a former employee involved a paternity claim against the casino mogul, according to people familiar with the situation. Wynn made the payment in 2005 because he didn’t want the allegations to be a distraction for his company, said the people, who asked not be identified discussing private information. Wynn Resorts Ltd. had just opened the Wynn hotel in Las Vegas and was building one in Macau at the time.
- MarketWatch•yesterday
Is Under Armour slipping into irrelevance?
Heading into its fourth-quarter earnings report scheduled for Feb. 13, analysts are raising concerns about Under Armour Inc.’s relevance, with everything from the company’s products to its choice of a flagship location being called into question. The holiday season was a cheerful one for retailers, and Wedbush analyst Christopher Svezia expects Under Armour(UAA)to exceed “low” expectations in the quarterly results. “It is clear that consumer interest [in] the Under Armour brand is not what it once was, as seen in its North American sales declines and its recent first sales decline in memory,” Wedbush said in a note published Wednesday.
Bloomberg•yesterdayBank of America Sell Signal Rings Louder on Record Equity Inflow
The fastest-ever rotation into stocks from Treasuries and high-yield debt has strengthened Bank of America Merrill Lynch’s contrarian sell signal, as risk-hungry investors shrug off the global equity selloff. Stock funds completed another “massive” week of inflows following a record influx last Friday as strong earnings reports offset concerns over a jump in U.S. government bond yields. Investors poured $25.7 billion into equities in the week to Jan. 31, taking the total inflow for the year to a "remarkable" $102 billion, the bank said, citing EPFR Global data.
- CNBC Videos•yesterday
Stocks sell off: Three reasons behind the market rout
CNBC's Bob Pisani breaks down the major things contributing to the market sell-off.
- Yahoo Finance•yesterday
Why eBay's decision to drop PayPal is a good thing
PayPal made headlines on Wednesday. Under the original terms of the agreement, eBay uses PayPal as its primary payments provider, meaning that the majority of transactions processed on eBay were processed through PayPal.
- Barrons.com•yesterday
Apple Tipped Cap About May, Time to Go Away, Says Bernstein
Toni Sacconaghi of Bernstein, one of two analysts cutting ratings today on Apple (AAPL), along with KeyBanc’s Andy Hargreaves, appeared on CNBC’s “Fast Money: Halftime Report” with host Scott Wapner a short while ago to discuss his change in sentiment. The cut follows Apple’s report yesterday of fiscal Q1 results that topped analysts’ expectations, but on lower-than-expected iPhone sales, and an outlook for this quarter that came in below consensus, as many had feared. Sacconaghi, who cut his rating to Market Perform from Outperform, and cut his price target to $170 from $195, takes the view that Apple is stuffed with inventory of iPhone, and is about to disappoint similar to how it did back in 2015-2016 with the iPhone 6s.
- TheStreet.com•9 hours ago
Remember Even Great Stocks Get Hammered in a Market Rout
For much of January, the market moved relentlessly to the upside. There was hardly a downtick during the day, and the dips were bought before they even began. It felt extremely artificial at times but when the computers are buying the bulls don't complain
Reuters•23 hours agoStocks plunge as U.S. jobs data spikes bond yields
Stock markets plunged and bond yields soared on Friday after U.S. data showing the strongest annual wage growth since 2009 rattled investors who fear accelerating inflation will usher in more interest rate hikes than expected this year. Yields on the benchmark 10-year U.S. Treasury note shot up to a four-year high just minutes after the release of a Labor Department unemployment report for January that underscored strong momentum in the U.S. economy. The price of the U.S. 10-year note later fell further, pushing the yield up as high as 2.854 percent from 2.773 percent late on Thursday.
Business Insider•yesterdayNvidia just took a one-two punch from Wall Street (NVDA)
Nvidia is sliding after two Wall Street firms took shots at the company. Goldman Sachs and Citron Research both announced a pullback on their optimism while maintaining a good overall outlook. The stock is down 1.52% to $236.84 after Goldman Sachs removed Nvidia from its conviction list, and Citron said the stock is about to drop about 15% to $200.
- CNBC Videos•yesterday
Jeremy Siegel: Rising rates helped cause market sell-off
Jeremy Siegel, Wharton School finance professor, discusses where the market can go after the Dow suffers a drop of more than 600 points.
Reuters•23 hours agoBitcoin skids amid broad cryptocurrency sell-off
Cryptocurrencies plunged on Friday, with bitcoin at one point sliding below $8,000 and headed for its biggest weekly loss since December 2013, amid worries about a regulatory clampdown globally. This week's slump brought the total market value of cryptocurrencies down to around $400 billion, half the high it reached in January, according to industry tracker Coinmarketcap.com. The market value of cryptocurrencies is calculated by multiplying the number of digital coins in existence by their price, although many question whether that is the right way to value them.
- TheStreet.com•yesterday
3 Key Takeaways From Alibaba's Earnings Report
Alibaba reported December quarter (fiscal third quarter) revenue of $12.76 billion (up 52% in dollars) and adjusted EPS of $1.63. Shares of Alibaba tumbled almost 6% on Thursday following the report, although it should be noted the stock has recently been trading at or near all-time highs and thus faced high expectations. Alibaba also hiked its fiscal 2018 (ends in March) revenue growth guidance to a range of 55% to 56% from a prior range of 49% to 53%.
Yahoo Finance•yesterdayStocks tumble as rates shoot higher
The Dow poised to shed over 500 points to end the week. Plus – Bitcoin boot-stomped. Lots of damage done to crypto this week, can they recover? And – a massive week for big tech in the books. We sort through the winner and losers. Plus a look ahead to
- Zacks•yesterday
Zacks Value Investor Highlights: Facebook, Alphabet, Nvidia, Amazon and Apple
Feb 2, 2018 – Zacks Value Investor is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio service, shares some of her top value investing tips and stock picks. Just like 2017, 2018 is off to a hot start for growth stocks.
Reuters•20 hours agoDell says it will explore IPO or merger with VMware
Dell, the world's largest privately held technology company, is under pressure to boost profitability after its debt-laden acquisition of data storage provider EMC Corp for $67 billion in 2016 failed to meet financial targets, hurt by intensifying price competition. Combining with VMware would provide access to VMWare's $11.6 billion in cash, helping Dell trim its $52.5 billion debt pile. The combination would also make Dell a publicly listed company, offering a path for private equity firm Silver Lake to begin selling down its 18 percent stake if it chooses to.
Business Insider•yesterdayThe iced tea company that said it would buy 1,000 bitcoin mining machines is backpedaling on its plans (LBCC)
Long Blockchain, the New-York company that back in December changed its name from Long Island Iced Tea to avoid being kicked off Nasdaq’s stock exchange, is backpedaling on its previous plans to purchase 1,000 bitcoin mining machines. Shares of the company gained about 2% at market open Friday, but it was not enough to return the company’s market cap to $35 million — the minimum required for continued listing on Nasdaq, according to the exchange operator's website.
- Zacks•2 days ago
Top Analyst Reports for Pfizer, PayPal & Raytheon
Thursday, February 1, 2018The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Pfizer (PFE), PayPal (PYPL) and Raytheon (RTN). These research
- MarketWatch•8 hours ago
The craziest official tech startup history you will ever read
This is made clear by “Year of the Rooster: Why Conduit Had to Let the Balloons Go,” a new history of the company written by Jeremy Blachman, published by Ofarim Publishers and financed by Como themselves. Conduit was founded by Ronen Shilo, Dror Erez and Gaby Bilczyk in 2005 and swiftly found success as a platform creator for browser toolbars and applications. Conduit took off through creating a platform that enabled anyone to create a personalized toolbar and distribute it for free, eventually reaching 300 million users.
- TheStreet.com•yesterday
Qualcomm's Q2 Guidance Increases Urgency of NXP Deal
disappointing outlook may increase the urgency of the chipmaker's bid for NXP Semiconductors Inc. While Qualcomm's earnings topped first fiscal-quarter forecasts, a dispute with Apple Inc. The disappointing guidance comes alongside a hostile takeover attempt by Broadcom Ltd.
- MarketWatch•8 hours ago
The Dow’s tumultuous history, in one chart
The U.S. won the space race by landing on the moon first in 1969, but on Earth, the Dow had little to celebrate as it remained stuck in its third-longest recovery period. The Dow Jones Industrial Average (^DJI) is one of the oldest and best-known indexes in the financial industry. It has, by its nature as a benchmark for the largest stock market in the world, become an important barometer of global confidence over the years.
- Barrons.com•yesterday
Apple: Super Cycle Gone but Consider $300B Buybacks, Says Citi
The talk of “super cycle” for the iPhone is “long gone,” according to Citigroup analyst Jim Suva talking with CNBC’s Jon Fortt this morning regarding Apple’s (AAPL) fiscal Q1 and forecast yesterday afternoon. Suva said the days of double-digit growth are long gone for the smartphone industry overall, which means it’s no longer possible to expect a super cycle for Apple’s own wares. Apple has been in the process of a $210 billion buyback program, of which it has completed $176 billion, CFO Luca Maestri told analysts last night on the company’s conference call.
- Zacks•2 days ago
So Many Q4 Earnings, So Little Time: AAPL, GOOGL, AMZN and More
Another big avalanche of fresh quarterly statements from some of the biggest names in Tech and elsewhere released after today's closing bell. However, while Q4 earnings season has been mainly robust overall, we see some fairly acute negative surprises
