The chemical giant plans to convert Berkshire Hathaway’s 3 million shares of preferred stock into common stock by year’s end. Shares of Warren Buffett’s Berkshire Hathaway were up .44% to $247,500 in Monday morning trading as the market reacted to Dow Chemical’s Friday announcement that it will convert the conglomerate’s preferred stock stake in the company into common stock by the end of the year.
Day: December 19, 2016
Disney Stock Upgraded on Force of ‘Rogue One’s’ Huge Opening Weekend
The success of its first Star Wars spin-off and other ‘blockbuster-level’ film releases make Disney a stock to own, according to Bank of America. The strong performance of Disney’s first Star Wars spin-off over the weekend was helping propel its stock on Monday as Bank of America/Merrill Lynch added Disney to its “US 1 list” of best investment picks.
5 Lowest 7-Year ARM Mortgage Rates
Homebuyers can still snag the absolute lowest rates, especially if they don’t plan on staying in their first home for more seven years. U.S. mortgage rates have risen in the aftermath of the presidential election, as potential homeowners face higher monthly payments amid a stagnant economy with slow wage growth.
Which Companies Are Changing Direction
Below is a list of names for those charts we feel are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week. Bullish reversals imply institutional accumulation and the potential for higher prices.
One of my faves from my #DealEconomy speech – full list: http://bit.ly/2gcKnEQ
In this updated daily chart of KBH, below, we can see that prices broke out above $16.50 and then pulled back slightly. Prices are still above the rising 50-day simple moving average line and the rising 200-day average.
It Could Be Turnaround Time for Nike
Let’s check the charts and indicators. In this 12-month daily chart of NKE, above, we can see a pattern of lower lows and lower highs all year.
Harvard Bioscience an ‘Asymmetrical Long Shot’
One of the best parts of writing for Real Money is all the great people I get to meet. I have made some great friends with fellow contributors and Real Money subscribers over the years, and I enjoy hearing from everyone who writes and comments on my articles.
Finally Getting Back to a Stock Picker’s Market
The bulls continue to chug away with better than 2 to 1 breadth, but momentum is slowing. There are only about 140 stocks hitting new 12-month highs, as buyers are less inclined to chase.
Watsa Says Trump Era Time to Go on Offense With $4.9 Billion Bet
Prem Watsa, the Canadian investor who just agreed to buy a Swiss company in his largest deal, called the $4.9 billion agreement a bet on U.S. growth under President-elect Donald Trump. The purchase of Allied World Assurance Co.
Mistry Resigns From Tata Companies Amid Fight With Scion
Ousted Tata Sons Ltd. Chairman Cyrus Mistry resigned as director of group companies as the units prepared to host shareholder meetings to remove him from the boards in a brawl for control of the $100 billion group. Mistry stepped down as a director in Tata Steel Ltd. and Indian Hotels Co., and as chairman of Tata Motors Ltd., the three companies said in stock exchange filings on Monday.
SCA Enters Wound Care With $2.9 Billion Deal Ahead of Spin
Svenska Cellulosa AB will acquire BSN Medical for 2.74 billion euros as the Swedish maker of Velvet tissues expands into wound care and orthopedics ahead of a planned split from forestry products. The purchase of the dressings-and-bandage maker from private equity firm EQT Partners AB, to be funded through debt, is expected to generate annual synergies of 30 million euros within three years, the Stockholm-based company said in a statement on Monday.
BlackBerry Opens Site to Shore Up Self-Driving Car Research
BlackBerry Ltd. and Canada are opening a research center for self-driving cars that raises the possibility of government backing for the former smartphone maker’s automotive software unit. Chief Executive Officer John Chen and Prime Minister Justin Trudeau announced the center at QNX’s headquarters near Ottawa, Ontario, where it will be based.
EU Interferes With National Powers in Apple Case, Irish Say
European Union competition investigators exceeded their powers in a probe that ended in a record 13 billion-euro tax bill for Apple Inc., Ireland said, as it set out details of its court appeal. The EU in August ordered Ireland to collect arrears from Apple over its tax arrangements in the nation.
Iran Drops A380s in Airbus Plan as Jet Struggles for Deals
Airbus Group SE suffered a blow to its already troubled A380 program when Iran, which had previously suggested it would buy the double-decker planes, said it had dropped the model as part of a wider fleet upgrade. Iran reduced its order with Airbus to 100 planes in a contract that will no longer include A380s, Farhad Parvaresh, Iran Air’s chief executive officer, said in a press conference in Tehran.
OPEC Deal Makes Oil Investors Most Bullish Since Slump Began
Money managers boosted bets on rising West Texas Intermediate crude prices to the highest level since July 2014 after the Organization of Petroleum Exporting Countries and producers outside the group agreed to coordinate crude production cuts. Prices advanced to a 17-month high on Dec. 12 on speculation that the curbs will reduce the global inventory glut next year.
Tri-Cities Braces For Wintry Weekend
As per Federal Communications Commission Regulations following is certified: Platte River Radio Inc. does not discriminate in the sale of commercial time, and will not accept advertising which, in its sole opinion, is purchased with intent to discriminate unlawfully on the basis of race, gender, or ethnicity. The advertiser hereby certifies that its purchase of commercial time is not made for an unlawful discriminatory purpose, including specifically that it is not based upon a decision to place advertising on a station on the basis of race, gender, or ethnicity.
BP Returns to Growth with $3.2 Billion of Deals in Three Days
The British oil major has snapped up stakes in fields in the Middle East and West Africa, adding to recent investments in the Gulf of Mexico and North Africa. BP is back on the acquisition trail and appears determined to make up for lost time, announcing two deals in three days.
With No Remaining Governors, the U.S. Postal Service Delivers Itself Into Uncharted Waters
You could soon have a legitimate reason for why those cards and packages never got to where they were supposed to go. A governance crisis has put a big question mark on the future of the United States Postal Service just in time for the holiday mail season, which is expected to peak Monday as Americans scramble to send off millions of greeting cards, letters, and packages ahead of holiday shipping deadlines later this week.
Smaller U.S. Banks Dodge Fed Crackdown on Short-Term Debt Funding
The Fed’s new rule requiring banks to issue more long-term debt is in line with recent decisions to alleviate the burden on mid-size lenders. As the Federal Reserve races to tighten financial industry regulations prior to the U.S. presidential handover, smaller banks are catching a break.
CBS Swallows AMC Networks, Viacom Unloads Paramount and More 2017 Media Predictions
As 2017 comes into view, we offer some media industry predictions at a time when content companies and pay-TV operators are playing musical chairs, hoping not to be left behind. When making predictions, it’s generally safe to say the future is uncertain and change is coming.
Momentum Is Waning From This Market
For several weeks now, I have earmarked late last week as the period when most of my indicators would reach an overbought reading on both a short and an intermediate-term basis. That is still the case.
‘Trump will have to say no to some very good American companies that need China.’
He doesn’t want a trade war. He believes we are in a trade war. He doesn’t want to retaliate.
In Potentially Risky Strategy, U.S. Startups Are Piling on Debt
His New York-based startup doubled annual revenue this year and is on track to break even in 2017. Valued at about $200 million in April, the marketing automation company counts Bain Capital and Goldman Sachs among its backers-a source of validation in the eyes of many venture investors.
Paschi Starts Share Offer as Italy Prepares Possible Rescue Plan
Banca Monte dei Paschi di Siena SpA is attempting to sell shares on the market while the government prepares a plan to inject as much as 15 billion euros into Italian banks should the fundraising fail, according to a person with knowledge of the matter. Italy’s Treasury plans to participate in the share sale, which may increase its 4 percent holding, the person said, asking not be identified because the plan isn’t public yet.
Uber Mideast Rival Valued at $1 Billion After Fundraising Round
Dubai-based ride-hailing app Careem Networks FZ raised $350 million from investors including Japanese e-commerce giant Rakuten Inc and Saudi Telecom Co., valuing it at about $1 billion. Government controlled STC, as the company is known, will invest $100 million for a 10 percent stake in Careem as part of a $500 million fundraising round, it said Sunday.
China Rejects Trump’s Comment That It Stole U.S. Naval Drone
China pushed back on U.S. President-elect Donald Trump’s accusation that it stole a U.S. naval drone last week. China seized the drone to protect shipping safety in the region, foreign ministry spokeswoman Hua Chunying told reporters in Beijing on Monday.
Citigroup’s Larsen Exits as Retail Banking, Mortgage Head
Citigroup Inc.’s global head of retail banking and mortgages, Jonathan Larsen, who has been known as an advocate of digital banking, resigned for personal reasons, the lender said. The New York-based bank is yet to choose a replacement for his “critical role,” it said in an internal memo dated Dec. 9. Citigroup spokesman James Griffiths confirmed the contents of the document.
Oil Prices Rise on More Balanced Market
Oil prices rose on Monday as a weaker dollar and the delay of new Libyan oil exports boosted benchmarks, amid expectations of tighter crude supply going into 2017. Analysts said the increases, which built on gains of around 2 percent on Friday, were driven by a delay in crude oil supplies from Libya.
Try This Exercise In Radical Empathy To Minimize Conflict
This exercise, which has helped Trump and Clinton supporters see eye to eye, can help you deal with any conflict in your life. In addition to the everyday disagreements we have with our friends, family, and coworkers, the brutal election over the last year appears to have ripped the country in two, with liberals and conservatives unable to see eye to eye.
12-Plus Apps You Should Delete Before The New Year
Your smartphone may feel like an extension of your hand, but it can be causing you more grief than joy. It’s no surprise why the concept of “digital detoxes” has become so popular; people feel too connected to their technological objects.
Shell Completes $1.4 Billion Showa Stake Sale
Royal Dutch Shell completed the sale of its one-third stake in Showa Shell Sekiyu to Idemitsu Kosan following delayed Japanese authority approval, completing a move that would diminish its century-old relationship with the Japanese oil refiner. Shell sold 31.2% of its stake in the Tokyo-based Showa Shell for A 158.9 billion , lowering the sale from the initially planned 33.24%.
Monte dei Paschi Stock Under Pressure as Share Sale Launched
Italy’s third-largest lender is touting its share-offer to retail investors as the clock ticks on ECB deadline. Monte Paschi shares tumbled Monday as the bank launched what may effectively be a final effort to save the world’s oldest bank from collapse.
Ireland Fights Back Against Apple Tax Ruling
The Irish government will publish a full legal argument Monday in its appeal against the European Commission’s Apple tax ruling. The Commission said in August that Ireland granted illegal tax benefits to Apple that allowed it to pay “substantially” less tax than other businesses over many years, and ordered Ireland to recover a 13 billion plus interest from the world’s biggest tech company.
Fiat Delivers Alphabet’s Waymo 100 Self-Driving Hybrid Minivans
Fiat Chrysler Automobiles NV announced the production of 100 Pacifica Hybrid minivans which will join Alphabet Inc.’s Waymo self-driving vehicle fleet. The minivans are currently being being outfitted with fully self-driving technology, including purpose-built computers and a suite of sensors, telematics and other systems, and will become part of the test fleet of Waymo, formerly the Google car project, in early 2017, the Italian-American manufacturer said Monday in a statement.
Australia and France insist on secrecy of new sub design
The Australian and French defense ministers say they are giving top priority to concealing design details of a new Australian submarine after data was leaked from French shipbuilder DCNS about a submarine built for India. French Defense Minister Jean-Yves Le Drian said Monday that the mutual concerns of France and Australia to avoid a repeat of such a leak were addressed in an agreement on protecting classified information signed in Paris last week.