Check out the companies making headlines before the bell: Coca-Cola – Coca-Cola struck a deal buy Costa, the world’s second-largest coffee chain, from Britain’s Whitbread for $5.1 billion, including assumed debt. Costa has nearly 4,000 locations across a variety of international markets. Lululemon – Lululemon reported second-quarter profit of 71 cents per share, well above
Stock Market
Wells Fargo has been investigating internal complaints of gender bias in its wealth management division for months and is looking into at least one formal human resources complaint about the division’s head, a man, according to a report in The Wall Street Journal on Friday. Female executives at Wells Fargo have raised concerns about gender
As Argentina’s currency plungedand interest rates spiked this week, the South American country was at the epicenter of an emerging markets’ financial spiral that is expected to continue well into next year. Argentina’s peso steadied Friday after losing about 20 percent against the dollar since Tuesday as its central bank said it would auction dollar
Check out the companies making headlines after the bell: American Outdoor Brands shares skyrocketed 20 percent in the extended session after a first-quarter earnings beat. The Smith & Wesson parent company earned 21 cents per share for the quarter, up 9 cents from Wall Street’s expectations of 12 cents per share. It also beat estimates
Check out the companies making headlines after the bell: Guess shares rose more than 11 percent during after-hours trading following an earnings beat for the second quarter. The clothing brand earned 36 cents per share, 4 cents higher than analysts’ estimates of 32 cents. The company also issued strong revenue guidance despite missing estimates on
Check out the companies making headlines after the bell: H&R Block shares rose 4.5 percent during after-hours trading following better-than-expected earnings for its first quarter, but subsequently erased those gains. The tax preparation company reported first-quarter consolidated losses of 74 cents per share and revenues of $145.2 million, according to Reuters. Wall Street predicted losses
Check out the companies making headlines before the bell: Tesla — CEO Elon Musk said in a blog post that the automaker will remain a public company, following consideration of his proposal to go private. Musk said he was confident the deal could have been funded, but said Tesla shareholders told him they wanted the
Stocks jumped, bond yields fell and the dollar slid after Fed Chair Jerome Powell reassured markets on Friday that the central bank sees no reason to speed up interest rate hikes. To some, his words signaled the Fed could even slow down later in the cycle. Powell was speaking in Jackson Hole, Wyoming, at the
If President Donald Trump were impeached, the stock market could be slammed in the short term, but the economy is unlikely to see any serious damage, according to Strategas Research. Trump this week claimed the stock market would crash and “everybody would be very poor” if he were to be impeached. Strategas said if Democrats
Stocks could close out the dog days of summer on a positive note, especially if NAFTA trade talks go well. The upcoming week could be a very slow one for stocks, but there is still some important data for markets to consider, particularly on the consumer. Consumer confidence is Tuesday; personal income and spending Thursday,
When Federal Reserve Chairman Jerome Powell speaks at the annual Jackson Hole symposium in the shadow of the Grand Tetons Friday, he will also be standing in the shadow of President Donald Trump. Trump this week expressed his displeasure with the Fed and Powell, by name, saying he disagrees with the Fed’s rate hiking because
Wall Street’s bull market should keep on running, but it could slow its pace as now buoyant profit growth diminishes, says Nuveen Asset Management’s Bob Doll. The S&P 500, as of Wednesday, is now in the longest running bull market ever as some strategists measure it. That would be one day older than the 1990
Pension funds can make a big splash when they all jump into financial markets at the same time. That’s pretty much been the experience in the bond markets this year, a phenomena that has helped keep rates low and provided a steady stream of buyers for Treasurys and corporate bonds, according to strategists. But now
Venezuela is doing something completely unprecedented. Some even say illegal. As part of an attempt to stop skyrocketing inflation, the country is issuing a new fiat currency called the “sovereign bolivar,” which will be backed by a cryptocurrency. But that cryptocurrency called the “petro” does not trade, and Venezuela’s own parliament says it’s being illegally
The dog days of August could be volatile this year, as trade and the Fed dominate in the week ahead. Markets will be fixated on the always important annual Fed symposium in Jackson Hole, Wyoming, where Fed Chairman Jerome Powell speaks Friday, and central bankers will hold high level discussions about policy and the economy.
It’s a familiar scenario. You forget a password to a website or log in from a new computer, and get locked out of your account. The website or your bank sends a text to confirm it’s you. Most of the time it is. But the person receiving that text could be a hacker. Criminals are
Investors pulled money from both stock and bond funds in the past week, and shifted money within U.S. equities to health care and out of tech and financials. According to Bank of America Merrill Lynch, investors pulled $3.6 billion out of equities mutual funds and ETfs, with $2.6 billion out of U.S. stocks. But as
The Economist Magazine does a particularly good job in reviewing global events on a country-by-country basis. A look at any issue in recent weeks reveals a world in turmoil. No region seems to be stable. The United States in comparison appears not only to be safe but also expanding economically. Its currency is solid and
A U.S. investor filed a $224 million lawsuit against AT&T Wednesday accusing the telecommunications giant of negligence that allegedly caused the California resident to lose roughly $24 million in cryptocurrency. In a 69-page complaint filed with the U.S. District Court in Los Angeles, the plaintiff Michael Terpin claimed that because of “AT&T’s willing cooperation with
Bitcoin may be losing its spark as it cracks below $6,000, according to CNBC’s Jim Cramer. “I think the tide has turned against it,” Cramer said Tuesday on CNBC’s “Squawk on the Street“. “I’m not saying its time has passed but there is a notion that the sun seems to be setting.” Bullish sentiment has
When Turkey’s economy boomed in the last decade, so did bank lending, much more explosively than in other emerging markets. That is at the heart of the concerns about the falling lira, which is now down 82 percent against the dollar year-to-date. The lending spree has created two potential problems, according to Capital Economics. One
Check out the companies making headlines before the bell: News Corp. – News Corp. reported adjusted quarterly profit of 8 cents per share, two cents above estimates. The Wall Street Journal publisher also saw revenue top forecasts, thanks to growth in real estate listings, book publishing, and subscription video services. Tesla – Tesla’s board of
A new air of cautiousness is hanging over markets, and it could continue in the week ahead as investors navigate Turkey’s currency collapse and the fallout across global markets. On Wall Street, traders pivoted quickly from rooting for a new all-time high in the S&P 500 to playing defense as global equities sold off instead.
Turkey’s collapsing currency and reeling economy have fallout for other emerging markets and expose vulnerabilities at some European banks, but strategists do not now see it as a trigger for a broader banking or financial crisis. Just a few European banks were identified as major investors in Turkey, but their exposure was not seen so
UBS analysts said the stocks in their coverage universe most impacted by trade tensions have underperformed the S&P 500 by about 4.5 percent since trade frictions began to intensify in mid-March. They identified 34 companies from diverse sectors, including machinery, retail, semiconductors, energy and autos. Companies and industries in sectors affected could see an earnings
The U.S. in the next five years will become an energy exporting powerhouse — rivaling Saudi Arabia in oil exports and growing into one of the world’s largest gas exporters, regardless of its trade spat with China, analysts said. China slapped tariffs on a range of oil products, liquid petroleum gas and coal, as well
The S&P 500 could soon reach a new all-time high and then may very quickly, hit a wall. Strategists expect the S&P 500 to easily push into record territory and beyond in the dog days of August, but they say watch out for turbulence and a likely pullback once markets get past Labor Day. The
President Donald Trump may not like the Fed’s interest rate policies, but the stock market doesn’t seem to mind — and it has been outperforming during Fed Chairman Jerome Powell’s first six months in office when compared to the early days of other Fed chairs. The Dow Jones industrial average was up 4.6 percent in
The private table in the back of Nobu was a tabloid photographer’s dream. It was January 2005, and Tom Brady, Michael Jordan, Alex Rodriguez, Bill Clinton, Gary Cohn and Marc Lasry were among the group dining at the Japanese eatery after 18 holes at Jordan’s celebrity golf tournament in the Bahamas. For most 25-year-olds, having
The S&P 500 could take a run at a new all-time high in the week ahead, barring a nasty escalation in trade threats. Stocks were mostly higher in the past week, and the S&P 500 gained 0.8 percent to 2,840, just 32 points or 1.1 percent from its record set Jan. 26 at 2,872. The