- S&P 5002,691.25+0.51%
- Dow 3024,538.06-0.29%
- Nasdaq7,257.87+1.08%
- Russell 20001,533.17+1.71%
- Crude Oil61.45+0.75%
- Gold1,323.70+1.42%
- Silver16.53+1.59%
- EUR/USD1.23+0.33%
- 10-Yr Bond2.86+1.89%
- Vix19.59-12.82%
- GBP/USD1.38+0.17%
- USD/JPY105.62-0.44%
- BTC-USD11,146.14-2.78%
- FTSE 1007,069.90-1.47%
- Nikkei 22521,181.64-2.50%
- TheStreet.com•3 hours ago
Stock Splits and Options Volatility
My list of potential stock split candidates continues to grow as the many stocks that could and probably should split their stock gets ever larger in number. Stock splits do not change the value of your stock holdings. In other terms, those who are long the options of the underlying stock about to be split normally do see a rise in value of their long calls and puts.
- Investopedia•2 days ago
6 Reasons For Another $6 Trillion Stock Market Correction
The recent stock market correction shaved about $6 trillion off the market capitalization of equities worldwide, and a recent report from Bank of America Merrill Lynch (BAML) outlines six reasons why another plunge of similar magnitude is possible. For investors in U.S. stocks, the impact would be a return of the S&P 500 Index (SPX) to its intraday low on February 9, or 4.7% below its open on March 2, per BAML's calculations. For the Dow Jones Industrial Average (DJIA), revisiting its February 9 intraday low would be a decline of 4.2% from the March 2 open. Meanwhile, the Investopedia Anxiety Index (IAI) continues to record extremely high levels of concern about the securities markets among our
- Bloomberg•2 days ago
Broadcom's Inflexibility Gives the Edge to Qualcomm
Technically, Qualcomm shareholders will be voting on Broadcom's attempt to overturn a majority of the chipmaker's board at the March 6 meeting. In reality, this is a referendum on Broadcom's takeover offer of $79 a share ($100 billion including debt) and the likelihood of any eventual deal getting regulatory approval. Broadcom lowered its bid from $82 last month because Qualcomm raised its own takeover offer for NXP Semiconductors NV in order to win over shareholders who had opposed that deal.
- Bloomberg•10 hours ago
Trump Tariffs Are a Gift for OPEC and Russia. Not Shale
President Donald Trump's planned 25 percent import tariff on steel is a gift to OPEC and Russia. Steel used in oil pipelines has to meet rigorous technical specifications to ensure it doesn't corrode or fracture during a lifetime that may well exceed 30 years -- far longer than that of a domestic appliance or an automobile.
- FX Empire•yesterday
Bitcoin Moves Ahead, with $12,000 in its Sights
Bitcoin had quite a week last week, gaining 14.08% Monday through Friday’s end of day $11,052.62. Friday saw Bitcoin and the cryptomarket struggle for direction, in spite of the strong weekly gain for Bitcoin, with Bitcoin gaining just 1.28%, with a mid-day sell-off seeing Bitcoin fall to an intraday low $10,774.01, testing its first major support level of $10,829 before moving back through to $11,000 levels by the close. Bitcoin’s dominance has been on the rise this year and now sits at 41.4%, the highest level since December of last year, which is reflected in Bitcoin’s rise in market cap, which now sits at $192.28bn, still well below its December peak $323.8bn, but well above this year’s $103.02bn low.
- The Wall Street Journal•2 days ago
A Wager That Appears Just Too Big to Buffett
In the bet, made at the end of 2007, Mr. Buffett correctly wagered that several bundles of hedge funds selected by investor Ted Seides wouldn’t be able to outperform the S&P 500 over the ensuing decade. What Mr. Buffett didn’t mention directly in his letter is that Berkshire Hathaway didn’t outperform the S&P 500 over that stretch, either. Over the 10 years ended last year, Berkshire Hathaway returned an average of 7.7% annually.
Associated Press•2 days agoJ.C. Penney says it has cut jobs, offers muted outlook
Department store chain J.C. Penney says it has cut more than 300 jobs and reported disappointing sales at established stores for the quarter that includes the holiday season. The news Friday overshadowed strong profits as investors worried about Penney's ability to remake itself in a changing retail market — especially after the good economy contributed to stronger results at chains such as Macy's and Kohl's. J.C. Penney eliminated 130 positions across all departments at its Plano, Texas, headquarters, and said restructuring regional, district and store support teams to eliminate bureaucracy led to 230 job cuts.
- MarketWatch•28 minutes ago
Mylan shares bounce on plans for Botox copycat, 2018 drug launches
Allergan’s Botox brought in more than $3 billion in sales last year, and company shares dropped 3% on the news of an emerging rivalBotox is one of Allergan’s most valuable assets, and brought the company more than $3 billion in sales last year. Mylan NV shares surged on Thursday after the company announced plans to bring a lower-priced biosimilar version of the bestselling cosmetic treatment Botox to market. The biosimilar, a collaboration with Revance Therapeutics Inc. (RVNC), would allow Mylan to vie for one of rival Allergan’s (AGN) most valuable assets, which brought in sales of $3.17 billion in 2017.
Reuters•20 hours agoMIT study that found low pay for Uber drivers to be revisited
The study, by the MIT Center for Energy and Environmental Policy Research, found that drivers' median pretax profit was $3.37 per hour, using results from a survey of more than 1,100 workers of the ride hailing companies. Uber and other companies have defended their business models saying their drivers enjoy the flexibility of their work and on average earn more than the minimum wage, but have lost a series of court cases on the issue. Khosrowshahi criticized the MIT study in a tweet on Friday as "Mathematically Incompetent Theories (at least as it pertains to ride-sharing)," and linked to a response by Uber chief economist Jonathan Hall that challenged the study's methodology.
- CNBC Videos•2 days ago
Kevin O'Leary: If tariffs are a negotiating tactic, I'm w...
Kevin O’Leary, O’Shares ETFs chairman, weighs in on the impact of proposed steel and aluminum tariffs on businesses in the U.S. and Canada.
- FX Empire•14 hours ago
Treasury Yields Pop on Fear of Trade War, More Robust Inflation
U.S. Treasury yields rebounded on Friday in reaction to President Trump’s tariff announcement on Thursday that sparked fear of a trade war and more robust inflation. According to Treasury data, the yield on the benchmark 10-year Treasury Note rose 6 basis points to 2.868 percent, while the yield on the 30-year Treasury Bond was up 6 basis points at 3.143. Some are saying that top Chinese officials could retaliate against unfriendly tariffs by reducing purchases of U.S. debt in the coming years, even as the Treasury Department prepares to increase supply.
Reuters•2 days agoTrading firm Virtu distances itself from phony cryptocurrency
Virtu Financial Inc (VIRT.O) on Friday distanced itself from a fake cryptocurrency called VirtCoin that falsely claims to be affiliated with the global trading firm, highlighting the potential risks associated with the digital currency craze. Regulators around the world have been grappling with how to police digital currencies, which companies issue via "initial coin offerings" that are sold to investors in return for a crypto-currency like bitcoin or ether. The U.S. Securities and Exchange Commission has a number of active investigations into companies that claim to be in the cryptocurrency space, but which are really just trying to steal people's money, Steven Peikin, co-director of the agency's enforcement division, said in September.
- American City Business Journals•2 days ago
FedEx Trade Networks realignment takes effect, 'more streamlined'
Effective March 1, FedEx Trade Networks (FTN) includes: FedEx Custom Critical, FedEx Cross Border, FedEx Supply Chain, FedEx Trade Networks Transport and Brokerage and FedEx Forward Depots — a new company that will oversee critical inventory and service parts logistics, 3-D printing, repair center and the FedEx Packaging Lab . “We are now a little over three times the size we were before, but we have a much more streamlined commercial front-end for customers that makes it easier for them to do business with us in these specialty logistics segments,” said Richard Smith, CEO of FTN.
- Fox Business•2 days ago
Stocks claw back as trade concerns ease
The S&P 500 and the Nasdaq erased morning losses, while the Dow closed lower Friday as investors struggled to determine whether President Trump's proposed steel and aluminum tariffs could trigger a trade war. The S&P 500 broke into positive territory in afternoon trading, rising 13.58 points, or 0.51%, to 2,691.25. The Nasdaq Composite jumped 77.31 points, or 1.08%, to 7,257.87.
- American City Business Journals•2 days ago
United Airlines employees shocked: Bonuses replaced with lottery
United Airlines President Scott Kirby sent shock waves through the employee ranks at the Chicago-based airline today. Kirby issued an employee memo in which he announced that the Chicago-based airline is dropping the quarterly performance bonuses the carrier had been giving out to all employees qualified to receive them. Kirby said in the memo, obtained by the Chicago Business Journal, that the bonus payouts are being replaced with a new program called "core4 Score Rewards," which Kirby said would include quarterly prizes like cash ranging from $2,000 to $40,000, luxury cars, vacation packages, and a grand of prize of $100,000 awarded to one eligible employee per quarter.
- TheStreet.com•2 days ago
Wait For a Close Above $7 Before Buying AK Steel
Ignore the tweets and any executive orders on tariffs. Ignore threats of retaliation. Just look at the charts and indicators of AK Steel Holding and decide whether you want to buy it or not. Simple enough? In this daily bar chart of AKS, below, we
- CNBC Videos•2 days ago
Analyst: This is the one FANG stock impacted by tariffs
RBC Capital Markets' Mark Mahaney weighs in on the impact of proposed steel and aluminum tariffs.
Bloomberg•2 days agoScaramucci Banned from White House
It's official: Anthony Scaramucci is banned from the White House #tictocnews https://www.bloomberg.com/news/articles/2018-03-02/scaramucci-on-white-house-exclusion-list-blocking-visits More
Reuters•2 days agoEquifax breach could be most costly in corporate history
NEW YORK/TORONTO (Reuters) - Equifax Inc (EFX.N) said it expects costs related to its massive 2017 data breach to surge by $275 million this year, suggesting the incident at the credit reporting bureau could turn out to be the most costly hack in corporate history. The projection, which was disclosed on a Friday morning earnings conference call, is on top of $164 million in pretax costs posted in the second half of 2017. "It looks like this will be the most expensive data breach in history," said Larry Ponemon, chairman of Ponemon Institute, a research group that tracks costs of cyber attacks.
- Barrons.com•2 days ago
VMware: It's All About Dell, Says Hilliard Lyons, Cutting To Hold
As mentioned earlier, most analysts looking at yesterday’s better than expected fiscal Q4 report from virtualization pioneer VMware (VMW) are concluding that financials don’t matter as much as Michael Dell’s rumored interest in taking the company private via a reverse merger. VMware shareholders have little to no recourse for any action taken by parent company Dell.
- MarketWatch•2 days ago
Dow trades off its lows, but McDonald's stock tracking worst skid since 2008 exacts a nearly 50-point toll
The Dow Jones Industrial Average traded off its lows on Friday but the blue-chip gauge was being weighed by a sharp drop in shares of McDonald's Corp. . Shares of the fast-food giant were exacting a roughly 50-point toll on the price-weighted Dow , with its shares off 5.1% or $8. A $1 move in any one of the Dow's 30 components equates to a 6.89-point swing in the average.
- Business Insider•2 days ago
Ford says Trump's new tariffs could hurt US companies' ability to compete (GM, F, TSLA)
Trump's tariff's on steel and aluminum could raise the prices of vehicles that his voters like to buy. On Thursday, the Trump administration announced a tariff on imported steel and aluminum, signaling a willingness to start a trade war so that that the President could keep a campaign promise. Automakers who use a lot of steel and aluminum in their vehicles were either quiet or diplomatic, even as slower February sales compared to a year ago and the Trump announcement send the entire sector's stock prices into decline.
- Bloomberg•2 days ago
Questions Surround Startup Awarded Trump's First Wall Contract
A tiny Nebraska startup awarded the first border wall construction project under President Donald Trump is the offshoot of a construction firm that was sued repeatedly for failing to pay subcontractors and accused in a 2016 government audit of shady billing practices. SWF Constructors, which lists just one employee in its Omaha office, won the $11 million federal contract in November as part of a project to replace a little more than 2 miles (3.2 kilometers) of a current fence with post-style barriers 30 feet (9.1 meters) high in Calexico, California. It's the first wall contract awarded in the Trump administration outside of eight prototypes that were built last year in San Diego.
- InvestorPlace•2 days ago
As the Market Goes, So Too Goes Apple Inc. Stock
With roughly a $900 billion market cap, Apple Inc. (NASDAQ:AAPL) is too large to resist the market’s gravitational pull. The shares’ movements increasingly match those of the NASDAQ Composite (INDEXNASDAQ:IXIC), and, in 2018, the two have become mirror images. Through March 1, the NASDAQ was up 4.01%, Apple stock was up 3.41%.
Reuters•2 days agoOil rises as Wall Street bounces off lows, crude posts weekly loss
Oil prices rose on Friday as Wall Street stocks bounced off session lows, but benchmark crude futures posted their first weekly decline in three weeks on fears U.S. plans to impose tariffs on steel and aluminium could squeeze economic growth and jitters about rising U.S. crude production. On Thursday, oil followed the stock market lower after President Donald Trump said he would impose hefty tariffs to protect U.S. producers. Brent futures (LCOc1) rose 54 cents, or 0.9 percent, to settle at $64.37 a barrel, while U.S. West Texas Intermediate (WTI) crude (CLc1) gained 26 cents, or 0.4 percent, to settle at $61.25.
