In highlights from this week’s trading diary and posts, Kass tells us about how Carl Icahn’s almost got it right and discusses JCPenney and Apple. Doug Kass fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.
Day: December 23, 2016
Count Your Blessings; Bet on the Banks: Jim Cramer’s Best Blog
Jim Cramer ponders how it’s OK again to like stocks , and points out that with Icahn advising Trump, banks are the way to bet. Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what’s happening in the market and his legendary ahead-of-the-crowd ideas.
Martin Shkreli Says – Of Course’ He’d Raise Drug Price Again
Outspoken former pharmaceutical executive Martin Shkreli said the national outrage over drug pricing was blown out of proportion and heightened by the U.S. presidential election, although he conceded he could have predicted the blowback better. “In terms of regret, maybe not seeing that as acutely would’ve been a minor regret,” Shkreli said during an interview on Bloomberg TV Friday.
Paschi Seeks State Aid as Italy Sets $21 Billion for Banks
Italy’s government is set to rescue Banca Monte dei Paschi di Siena SpA after the world’s oldest lender failed to raise 5 billion euros from the market, in what will be the country’s biggest bank nationalization since the 1930s. Italy will plow as much as 20 billion euros into the country’s banks providing both emergency liquidity guarantees and capital injections, as more lenders may seek lifelines soon.
Guide to returning holiday gifts
The holidays are a time for celebration and gifts, but not all presents hit the mark and returning them doesn’t feel very festive. If you find yourself unhappy with a gift, you wouldn’t be the only one.
What Happened in the Stock Market Today
Stocks rose on Friday ahead of a three-day weekend in observance of the holidays. The Dow Jones Industrial Average Biotech Synergy Pharmaceuticals, which specializes in gastrointestinal therapies, soared 22% after it announced positive clinical test results.
Boost Your Retirement Income With These 10 Tips
With fewer and fewer of us able to enjoy traditional pension income, it’s more important than ever that we plan for our future financial security and set ourselves up to receive sufficient income when we’re no longer working. Here are 10 ways you can boost your retirement income.
Better Buy: Las Vegas Sands Corp. vs. MGM Resorts
Because each casino operator has placed separate bets on the gaming market, investors will want to know which makes the better investment as the industry’s rebound gains momentum. Sands and MGM have their feet firmly planted in the two biggest gambling markets, Las Vegas and Macau, but that’s where the similarities end.
Deutsche Bank, Credit Suisse Settle U.S. Subprime Probes
Deutsche Bank AG and Credit Suisse Group AG agreed to pay a combined $12.5 billion to resolve U.S. investigations into sales of the toxic debt that fueled the financial crisis, putting behind them a major dispute that undermined confidence in the banks and raised questions about their turnarounds. Deutsche Bank will pay $7.2 billion and take a $1.2 billion pretax charge this quarter, while Credit Suisse agreed to a $5.3 billion deal and will recognize a $2 billion hit to earnings, the banks said in separate statements early Friday.
Honda in Talks With Google’s Waymo on Self-Drive Tech
Honda Motor Co. said Wednesday it is talking to Waymo, the autonomous driving unit of Google parent Alphabet Inc., to try to strike a deal that would put its self-driving technology into some of the Japanese automaker’s cars.
Why Sears Holdings, GNC Holdings, and Pengrowth Energy Slumped Today
Friday once again was a letdown for those who had hoped that Dow 20,000 would happen at some point during the week. Stocks gained slightly, but the Dow’s rise was limited to 15 points, leaving it 66 points shy of the fabled milestone.
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This week has proven to be a disappointment for bullish investors who were hoping to see the Dow Jones Industrials reach a historic 20,000 milestone. Friday brought slight gains to the overall stock market, but they weren’t enough to push the Dow into uncharted territory, and advances for most major market benchmarks were limited to less than a quarter of one percent.
What Happens If You Get Audited?
If there’s one thing American taxpayers fear more than owing money to the IRS, it’s being audited. But before you picture a mean, scary IRS agent busting into your home and questioning you till you break, you should know that in reality, most audits aren’t actually a big deal.
This Week in Solar
The end of the year is usually quiet for most businesses, but for the solar industry it can be a time of big changes. Legislation and regulatory changes are often pushed through just before the end of the year, which has had a huge impact on the solar industry in years past.
Online Stock Brokers: Comparing Capital One and E*TRADE
There are so many brokerages, and so many ways to compare them, that comparing online stock brokers can be overwhelming. By focusing on the major differences, investors can find a brokerage that suits their investing style without getting bogged down by the details.With this in mind, let’s see how two popular brokerages, E*TRADE and Capital One , compare on matters that are important for the long-term investor.
Tobacco Stocks: What to Watch in 2017
Tobacco stocks have been extremely successful investments for long-term shareholders, and as the calendar changes, investors are looking closely at what will affect tobacco stocks in 2017. Stalwarts like Altria Group from Altria gave U.S. investors another opportunity to jump into the international tobacco area as the company went up against British American Tobacco and other international competitors.
Stocks End the Week on a Positive Note
Wall Street ended the week on a positive note on Friday as investors doubled down on a rally fueled by optimism that President-elect Donald Trump’s policies will boost economic growth. The Dow Jones Industrial Average, which briefly came within striking distance of the historic 20,000 level earlier this week, recorded its seventh straight weekly gain.
Berlin truck attack suspect killed in Milan police shootout
Mustapha Amri and Walid Amri, the father and brother of the suspect in the truck attack, display a photo of Anis Amri in Oueslatia, Tunisia. Mustapha Amri and Walid Amri, the father and brother of the suspect in the truck attack, display a photo of Anis Amri in Oueslatia, Tunisia.
Congressman wants FDA to take action against ‘fake milk’
In this Feb. 11, 2009, file photo, a shopper looks over the milk aisle at the Hunger Mountain Co-op in Montpelier, Vt. U.S. Reps.
Lockheed Martin and Cintas drop; Fred’s and Cal-Maine climb
Alden Global Capital disclosed a 25 percent stake in the retailer and said it wants to discuss Fred’s plan to buy 865 Rite Aid stores. Click below for the top news from around the Bay Area and beyond.
Creating ‘one-of-a-kind’ perfumes in South Africa
Perfumes are a very personal choice and one Cape Town perfume maker has taken this idea to heart by making her own range of perfumes – from scratch.
Rising Rates May Hurt Small-Cap Biotech ETF Valuations
The Federal Reserve has hiked interest rates for the second time in a decade and plans to raise rates three more times next year. With higher interest rates, investors may find small-cap biotechnology exchange traded funds that track companies banking on a breakthrough drug less appealing.
Oil Settles at 17-Month High
An oil pump jack pumps oil in Al-Jbessa oil field in Al-Shaddadeh town of Al-Hasakah governorate April 2, 2010. REUTERS/Stringer – RTR45V6M crude gained seven cents, or 0.1 percent, to settle at $53.02, its highest close since July 2015.
Improving Oil Prices Support High-Yield MLP ETFs
Rebounding along with rising crude oil prices, master limited partnerships and related exchange traded funds are once again looking like an attractive yield-generating alternative.
Department Stores’ Post-Election Rally Is Over
Department store stocks jumped after U.S. election results came in on Nov. 8. Shares of companies like Macy’s saw advances of 20% or more in the weeks following President-elect Donald Trump’s victory, but prices have been pulling back once again in the last couple of weeks. The woes for the retail juggernauts of yesteryear continue, so the negative retracement isn’t a surprise.
Board Member Of Audit Regulator PCAOB Resigns
Public Company Accounting Oversight Board Member Jay D. Hanson notified the audit regulator on Friday of his resignation from its Board. The PCAOB did not provide a reason for his departure.
Sunnyvale: Council approves Butcher’s Corner development
The future of the 5.49-acre “Butcher’s Corner” plot at El Camino Real, Wolfe Road and Fremont Avenue is coming into focus after the Sunnyvale City Council’s voted on Dec. 13 to certify a proposed project’s environmental review and grant a special development permit that paves the way for the project to be built. The project by De Anza Properties calls for converting the mostly empty lot into a mixed-use development with 138 residential units, made up of 39 townhomes and 99 flats, as well as retail and office space with surface and underground parking.
Cybersecurity 2017 – The Year in Preview: Changes Afoot in Federal Enforcement?
Fragmentation in U.S. data privacy and cybersecurity law is both peril and promise. The peril? Businesses must contend with uncertainty and the costs associated with pleasing many regulatory masters.
Starbucks Free, Holiday Espresso Drinks Could Spur a Long-Term Boost to Sales
On Friday, Seattle-based coffee mega-chain Starbucks announced that, in the spirit of the holidays, the company would be giving away free tall espresso drinks. Starbucks stock sank slightly.
Deutsche Bank Faces Uphill Struggle
Deutsche Bank DB could trade higher, but the lack of strong accumulation is likely to mean a slow and drawn out advance. In this one-year daily chart of DB, above, we can see that prices were under selling pressure until late September.
‘I actually found myself discussing Western Digital today with someone. That’s something.’
I only take a handful of days off a year, something that one day has to change. When I do it is back to the old routine of hanging around town — Summit — and seeing my friends and checking in on the merchants and the stores for the holidays while going to my favorite sandwich shop for lunch….275 more words left in this article.
Former WWE Wrestler Booker T’s Next Big Match: Houston Mayoral Run
Former WWE Wrestler Booker T. Huffman on how he feels about Donald Trump and his own plan to run for mayor of Houston. Former WWE Wrestler Booker T. Huffman weighed in on President-elect Donald Trump and spoke about his decision to step into the political ring with a run for mayor of Houston, Texas in 2019.
FCC Adopts Globalstar Order
Globalstar, Inc. is very pleased to announce that the Federal Communications Commission adopted a Report and Order based on Globalstar’s Revised Proposal for terrestrial authority over the Company’s 11.5 MHz of licensed 2.4 GHz spectrum.
Mortgage Rates Today, Friday, Dec. 23: Slight Dip; Foreclosure…
Heading into Christmas weekend, mortgage rates are easing slightly with 30-year fixed loans and 5/1 ARM rates dipping and 15-year fixed loans remaining the same on Friday, according to a NerdWallet survey of mortgage rates published by national lenders this morning. Some homeowners in the U.S. are struggling to repay their mortgage.
Deutsche Bank Reassures Staff of Strength After U.S. Settlement
Deutsche Bank AG moved to reassure employees of its financial strength after reaching a $7.2 billion settlement with U.S. regulators over toxic subprime debt, and said it found no evidence the firm had breached sanctions against Russia in a separate probe. The lender, which saw its stock plunge this year amid legal concerns on multiple fronts, said in a memo to staff Friday that it doesn’t expect the settlement to affect its credit rating or its ability to operate in the U.S., and it anticipates paying the coupons on all its debt instruments.
Another Trump tweet jab, again in the defense sector
Shares of Boeing and Lockheed Martin slipped in early trading a day after a tweet from President-elect Donald Trump appeared to pit the two giants in the defense industry against one another to lower prices for government contracts. During his campaign, Trump lambasted Ford for beefing up operations abroad.
China Slaps GM With $29 Million Fine Amid Growing Tensions
China slapped a $29 million fine on General Motors Co. for antitrust violations, a sign of the growing tensions between the U.S. and the Asian nation The largest U.S. automaker is accused of setting minimum prices on some models in its SAIC General Motors joint venture.
Boeing-Versus-Lockheed Jet Rivalry Reopened by Trump Tweet
President-elect Donald Trump upended years of Pentagon procurement planning with a tweet announcing he had asked Boeing Co. to price an upgrade of its F-18 Super Hornet jet that could replace Lockheed Martin Corp.’s F-35, the most expensive U.S. weapon system ever.
This Startup Will Sequence Your DNA, So You Can Contribute To Medical Research
The price to sequence the human genome has dropped from $100 million in 2001 to just a few thousand dollars today. It’s now cheap enough that some people are starting to get sequenced out of sheer curiosity about what they might uncover.
S&P 500 Analyst Moves: BAC
The latest tally of analyst opinions from the major brokerage houses shows that among the components of the S&P 500 index, Bank of America is now the #107 analyst pick, moving up by 29 spots. This rank is formed by averaging the analyst opinions for each component from each broker, and then ranking the 500 components by those average opinion values.