Albertsons to buy Rite Aid in cash-and-stock deal

The deal is a potential lifeline for a slimmed-down Rite Aid that saw its negotiating power for generic drugs weaken when it sold nearly half of its stores to larger rival Walgreens. Rite Aid shares rose were up about 25 percent at $2.66 in premarket trading. Depending on whether Rite Aid shareholders chose to be paid in cash and Albertsons stock or only stock, the deal values Rite Aid at between $1.30 and $2.65 per share, Evercore ISI analyst Ross Muken said.

• 
  Safeway parent Albertsons buying what's left of Rite Aid

  Washington Business Journal
• 
  Morning Brief: Albertsons to buy rest of Rite Aid in $24B deal

  Yahoo Finance

Anonymous trader buys $400 million in bitcoin

Go big or go home. That’s the motto of one mysterious investor who put his chips on the table, buying close to $400 million of the No.1 digital currency, bitcoin. The purchase comes as cryptocurrencies are making a comeback after a dreadful start to 2018. Major digital currencies lost as much as 50% to start the year as growing regulation and security fears crippled the market, seeing traders bail on their positions. However, the tide has turned. The price of bitcoin BTCUSD, +1.61%  has increased more than 60% since trading under $6,000 on February 6, pushing back above $10,000, helped by signs of growing recognition of digital currencies from officials in Washington. “Not sure who that big buyer

• 
  Bitcoin Prices Will Double in 2018: 'Shark Tank' Star Robert Herjavec

  The Street
• 
  Bitcoin takes fresh aim at $11,000

  MarketWatch

Munger: You won't get the returns Buffett and I got by doing what we did

Buffett and Munger have been critics of fees charged to investors by fund managers. Warren Buffett’s right-hand man, Charlie Munger, the vice chairman of Berkshire Hathaway (BRK-A, BRK-B), said they had an “easier world” than the young investors of today face. “I don’t think you’re going to get the kind of results we got by just doing what we did,” Munger, 94, said at the Daily Journal’s (DJCO) annual meeting in Los Angeles last week.

Venezuela is about to pre-sell its ‘petro’ cryptocurrency, and it could be an ‘excellent pilot for Putin’

Venezuela will launch a pre-sale of its commodity-backed "petro" cryptocurrency on Tuesday. President Nicolas Maduro hopes the country's own digital currency will help it to make financial transactions and get around Western sanctions. Both the United States and the European Union have imposed economic sanctions on Venezuela over their opposition to its autocratic government. Last year, the Economist Intelligence Unit's Democracy Index downgraded Venezuela from a "hybrid regime" to an "authoritarian regime" due to its "continued slide towards dictatorship." Venezuela's petro token will be backed by its oil, gas, gold and diamond reserves, according to the government. The country's cryptocurrency

• 
  What is Venezuela's new petro cryptocurrency?

  Al Jazeera
• 
  Maduro reaches out to Trump on Twitter

  AFP

Household debt in Australia is at 'a global record': stra...

Household debt will affect the RBA's pace of monetary policy adjustment, says Wayne Gordon of UBS Wealth Management.

Alaska Air Group's January Load Factor Declines, Stock Falls

Shares of Alaska Air Group, Inc. ALK have declined more than 2% ever since it released its traffic results for January 2018, last week. In the first month of 2018, the company’s consolidated traffic (measured in revenue passenger miles or RPMS) increased

Dow futures slip with traders on Presidents Day break

U.S. stock futures were trading lower on Monday, reversing Friday’s mostly upbeat action, though analysts warned against reading too much into the moves, given traders are off for Presidents Day. American stock markets and the bond market are closed for the holiday, and there are no economic releases expected, as federal agencies are shuttered. Check out: Which markets are closed on Presidents Day? What are the main benchmarks doing? Dow Jones Industrial Average futures YMH8, -0.52% shed 133 points, or 0.5%, to 25,103, while S&P 500 futures ESH8, -0.46% gave up 12.50 points, or 0.5%, to 2,722.50. Nasdaq-100 futures NQH8, -0.29% fell by 19.75 points, or 0.3%, to 6,767. Last week, the Dow DJIA,

• 
  Rep. Trey Gowdy on Mueller indictments: "This is exactly what we wanted him to do"

  CBS News
• 
  There's Still Time to Act Against Russian Interference

  The Atlantic

Saudi Arabia Is Taking a Harder Line on Oil Prices

For decades, Saudi Arabia was the voice of moderation within OPEC, pushing back against the urging of members like Venezuela and Iran for higher oil prices. That role seems to be shifting. Thanks to OPEC-led production cuts, crude prices are double their level two years ago and bloated oil stockpiles are almost back to normal. Yet Saudi Energy Minister Khalid Al-Falih wants to go further. Producers should keep cutting for the whole year, even if it causes a small supply shortage, Al-Falih said. “If we have to overbalance the market a little bit, then so be it,” he told reporters in Riyadh last week. Source: IEA Saudi Arabia faces unprecedented pressures as Crown Prince Mohammed Bin Salman embarks

• 
  For timing of Aramco IPO, watch forward oil price curve

  Reuters
• Two-year oil price curve likely to influence timing of Saudi Aramco IPO

  Business Standard

Morning Brief: Albertsons to buy rest of Rite Aid in $24B deal

Albertsons will buy chunk of Rite Aid: U.S. grocery chain operator Albertsons Companies Inc. plans to buy the part of Rite Aid Corp. (RAD) that is not being bought by Walgreens Boots Alliance Inc. (WBA), the Wall Street Journal reported on Tuesday. The drug store operator and Albertsons together are valued at around $24 billion, including debt, WSJ said.

• 
  Albertsons buying big chunk of Rite Aid: Report

  CBS News
• 
  Safeway parent Albertsons buying what's left of Rite Aid

  Washington Business Journal

David Tepper's Appaloosa Portfolio Jumped Nearly 50%: 13F

Billionaire David Tepper, the head of Appaloosa Management, recently filed his quarterly 13F report. According to the SEC filings, Appaloosa's value increase by almost 50% in the last quarter of 2017. As of the start of 2018, Appaloosa Management's largest holdings were Micron Technology Inc. (MU), Facebook Inc. (FB), and Powershares QQQ Trust (QQQ). $10.5 Billion Portfolio Stocks in Appaloosa's portfolio which were represented on the 13F filings totaled $10.5 billion as of December 31, 2017. The list value for those stocks was up an astonishing 47.5% as compared with the previous quarter, according to Value Walk. By comparison, the S&P 500 was up just over 6% over the same period. At a time

• Rambus Inc. (RMBS) Shares Bought by Global X Management Co. LLC

  The Cerbat Gem
• Discover Financial Services (DFS) Stake Lifted by Victory Capital Management Inc.

  The Cerbat Gem

Cheasapeake (CHK) Q4 Earnings: A Disappointment in Store?

Chesapeake Energy Corporation CHK is slated to report fourth-quarter 2017 results on Feb 22, before the opening bell.In the trailing three months, the company reported a positive earnings surprise of 20.00%. Chesapeake beat the Zacks Consensus Estimate

• 
  SCANA (SCG) Warming Up to Q4 Earnings: What's in the Cards?

  Zacks
• 
  Kansas City Southern (KSU) Down 2.2% Since Earnings Report: Can It Rebound?

  Zacks

Job hunting mistakes you’re probably making, warns Korn Ferry CEO

He’s an executive recruiting guru and best-selling author of “Lose the Resume, Land the Job,” Korn Ferry International CEO George Burnison says you are job hunting all wrong. From key resume tips to the best way to interview, Burnison lays out some must-hear advice for job seekers.

• Biggest job search mistakes people make: Korn Ferry CEO

  Fox Business
• 
  The real reason to quit your job, says Korn Ferry CEO

  Fox Business Videos

Chips rip higher, and market watchers eye Intel as the semi to own

Trading Nation: These investors are buying into the chip rip    3:10 PM ET Fri, 16 Feb 2018 | 02:43 Chip stocks are ripping higher, and one market watcher says the semiconductor space could be in for an even bigger rally. The SMH semiconductor ETF last week posted its best week in more than two years. The rally, led by Applied Materials, Lam Research and Micron, comes as the group has fallen roughly 5 percent from highs late last month. Despite that sell-off, SMH is still up about 34 percent in the last year. Applied Materials and Lam Research are the "two 800 pound gorillas in the space. They both reported and are positive on industry spending in 2018," Mike Binger, portfolio manager at Gradient

Latvia starts criminal probe of its central bank chief

Latvia's anti-corruption agency says it suspects the nation's central bank chief of demanding and receiving bribes of at least 100,000 euros ($125,000) and has started a criminal investigation against him. The agency said Monday that no formal charges have so far been filed against Ilmars Rimsevics, who is also on the top policymaking council of the European Central Bank. Prime Minister Maris Kucinskis said after an extraordinary Cabinet meeting Monday that the central banker will face "restrictions" to be announced later.

• 
  Gallery of ECB Governors in Legal Woe Grows on Latvia Case

  Bloomberg
• 
  Latvia's banking sector rocked by U.S. probe, central bank chief's detention

  Reuters

Market Corrections: Preparing for the Inevitable

Investopedia does not provide tax, investment, or financial services. The information available through Investopedia’s Advisor Insights service is provided by third parties and solely for informational purposes on an “as is” basis at user’s sole risk. Investopedia makes no guarantees as to the accurateness, quality, or completeness of the information and Investopedia shall not be responsible or liable for any errors, omissions, inaccuracies in the information or for any user’s reliance on the information. While Investopedia may edit questions provided by users for grammar, punctuation, profanity, and question title length, Investopedia is not involved in the questions and answers between advisors and users, does not endorse any particular financial advisor that provides answers via the service, and is not responsible for any claims made by any advisor.

• 
  How the Dogs of the Dow Fared Through the Market Correction

  Motley Fool
• 
  Is it Over? Five Misconceptions About Corrections

  Jeffrey Kleintop's Tumblr

Asia trades mostly higher as markets in Greater China remain on holiday

Asian markets mostly rose on Monday after the U.S.'s S&P 500 extended its winning streak on Friday to six days. Markets in the Greater China region remain closed for the Lunar New Year holiday. Japan's Nikkei 225 rose 428.96 points, or 1.97 percent, to 22,149.21, while the Topix index added 37.78 points, or 2.17 percent, to 1,775.15. South Korea's Kospi index added 20.99 points, or 0.87 percent, to 2,442.82. Meanwhile, Australia's ASX 200 reversed early losses to finish up 37.6 points, or 0.64 percent, at 5,941.6. The heavily weighted financial subindex rose 0.56 percent, while the energy sector fell 1.26 percent and the materials subindex reversed losses to climb 0.23 percent. Oil stocks in

• 
  Australia shares set to slip; NZ falls slightly

  Reuters
• 
  Asian markets continue to push higher: ‘It’s kind of a relief rally’

  MarketWatch

Why Hasbro Thinks Star Wars Toys Are Still a Big Deal

Hasbro (HAS) has made bank off Star Wars toys over the last few years. But, sales came under pressure during the holiday season as the latest film installment, Star Wars Ep. VIII: The Last Jedi, didn't live up to some fans expectations. The rare sales miss for Hasbro from a bread and butter franchise raised some concerns on Wall Street of movie toy fatigue.  Hasbro CEO Brian Goldner told TheStreet he remains bullish on the franchise. 

• 
  Hasbro Is Full Steam Ahead Despite Toys R' Us Bankruptcy

  The Street
• 
  Hasbro CEO: No Long-Term Impact to Us From Toys 'R' Us Bankruptcy

  The Street

Sony Forms Alliance With Cabs as Uber Steps Up Japan Presence

Sony Corp. is jumping into the ride-hailing fray. The Japanese electronics maker plans to form a joint venture with six taxi operators in Japan this spring, according to a statement on Tuesday. The alliance comes as Uber Technologies Inc., the world’s biggest ride-hailing startup, is in talks with another cab company as it tries to build its presence in the country. After years of little action, Japan’s lackluster ride-hailing industry is suddenly seeing a lot of activity. Uber Chief Executive Officer Dara Khosrowshahi is visiting the country to underscore the importance of its 1.7 trillion yen ($16 billion) taxi market. The San Francisco-based company, which has failed to gain much ground since

• 
  Uber to Renew Push to Expand in Japan With Taxi Partnerships

  Bloomberg
• 
  Sony jumps into Japan taxi market with AI app plans

  AFP Relax News

Calm your nerves with value stocks as faster inflation roils the market

If interest rates are headed up because of rising inflation — the working theory behind the U.S. stock market’s recent panic attack — then it’s time to calm your nerves by tilting toward value stocks. That’s the view of David Green, who helps manage the Hotchkis & Wiley Value Opportunities Fund HWAAX, +0.10% Sure, he’s got a bias. He manages a value fund. But hear him out, because he’s worth listening to. A graduate of the University of California, Berkeley, Green started his investing career in the early 1990s at Prudential Investment. Then he moved on to Goldman Sachs Asset Management. His Hotchkis & Wiley fund beats its benchmark by 5 percentage points, annualized, over the past 10 years,

• Global stocks extend global recovery, set for sixth day of gains

  Business Standard India
• 
  Guggenheim's Minerd warns of a possible replay of 1987 stock market crash

  Reuters

Bitcoin Price Crosses $11,000 as Ripple, NEO Gain

The price of a single bitcoin continued to build on its momentum from last Friday and reached a high of $11,221.73 over the weekend before paring back gains. At 15:15 UTC on Monday, a single bitcoin was worth $11,077.08, up 6.5% from its price 24 hours earlier. total cryptocurrency market value reached a high of $519.4 billion on Saturday night before shedding the gains a couple of hours later for to $474 billion. At 15:18 UTC on Monday, crypto markets had a total valuation of $502.7 billion. The last time they crossed the $500 billion mark was in mid-December 2017, and it took them approximately five days to add another $100 billion.  But things are different this time around, and crypto markets

• 
  Bitcoin Breaks Above $11,000 Threshold in Fourth Day of Gains

  Bloomberg
• 
  Bitcoin Price Ticks Higher Amid Strong Korean Demand

  Coindesk

Will Qualcomm (QCOM) Raise Bid for NXP Semiconductors?

Qualcomm Inc. QCOM is mulling over to raise bid for NXP Semiconductors NV NXPI, in order to garner support of 80% shareholders of the latter, per CNBC. Notably, on Oct 27, 2016, Qualcomm had entered into a definitive agreement with the Netherlands-based mobile chipset giant for the acquisition. Per the deal, the largest mobile chipset manufacturer would be paying $110 per NXP share in cash, reflecting an enterprise value of approximately $47 billion (equity value of $39 billion) for NXP Semiconductors.

• 
  Qualcomm is moving to decide how to price NXP deal to lure in enough shareholders

  CNBC.com
• 
  Qualcomm gets hedge fund nod with raised offer for NXP

  Reuters

Schlumberger (SLB) Down 13.2% Since Earnings Report: Can It Rebound?

A month has gone by since the last earnings report for Schlumberger Limited SLB. Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Schlumberger’s fourth-quarter 2017 earnings of 48 cents per share (eliminating charges and credits) surpassed the Zacks Consensus Estimate of 44 cents and the year-earlier figure of 27 cents.

• 
  Eni (E) Beats on Q4 Earnings Estimates, Guides For 2018

  Zacks
• 
  HP Inc. To Release First Quarter Results

  GuruFocus.com