Still, Wall Street didn’t give the company much credit and the stock stayed flat following the earnings release. Here’s why the market remains restrained and why that could mean the buying window into this great long-term play has been extended.
Day: December 28, 2016
Facebook Safety Alerts Like Bangkok to Be Triggered More Often
Facebook Inc. said it wasn’t a mistake to tell people in Bangkok to mark themselves as safe after the report of a small bomb explosion. It’s an example of how much more common the social network’s “safety check” alerts are going to become.
Chinese Video Giant Leshi’s in Talks to Raise $1.4 Billion
Leshi Internet Information & Technology Co., the Chinese video-streaming service backed by the billionaire founder of cash-strapped online giant LeEco, said it’s in discussions to raise more than 10 billion yuan from a group of undisclosed strategic investors. The company sometimes described as a local Netflix plans to raise the money through a private issuance of stock and other avenues, it said in a filing with the Shenzhen stock exchange Wednesday.
VW Buys Mobile-Payment Provider PayByPhone for Parking Services
Volkswagen AG bought North American parking-payment operator PayByPhone in the latest move by Europe’s biggest carmaker to expand from manufacturing into mobility services. The purchase of Vancouver-based PayByPhone, which processed more than $250 million in transactions this year, will turn the German company’s Volkswagen Financial Services unit into the leader in mobile payments for parking, the automaker said Wednesday in a statement.
Futures Higher, but Will It Be Enough?; Asia Lower
Futures for U.S. markets were higher late Wednesday, indicating investors may have another shot at pushing the Dow Jones Industrials index over 20,000 before the end of the week, though a second bond sale Thursday may again tap pocketbooks. The Dow and Nasdaq added 0.03% at 9:16 p.m. EST while the S&P 500 gained 0.06%.
Tesla Motors, Inc. to Announce Vehicle Deliveries Next Week
Ahead of its important Model 3 launch next year, will the automaker meet expectations and potentially strengthen investor confidence in the company’s ability to keep growing? Here’s a look back at Tesla’s recent vehicle deliveries, and a look ahead at what to expect from deliveries during the important holiday quarter. In its third quarter, Tesla reported surprising growth in vehicle deliveries.
Nvidia Falls as Citron Research Says Stock – Belongs at $90′
Shares of graphics chipmaker Nvidia Corp. fell the most in almost month after an investment newsletter run by activist short seller Andrew Left said the stock “belongs at $90.” Nvidia has more than tripled this year to $117.32 at Tuesday’s close.
Singapore’s Year of Misbehaving Moneymen Puts MAS on High Alert
From the 1Malaysia Development Bhd.-linked scandal to a 333-count front-running case and the largest market-manipulation prosecution in Singapore’s history, this year’s allegations of moneymen behaving badly have put the city-state’s image as a squeaky-clean financial hub to the test. Regulators have responded with their busiest year of enforcement actions, shutting the local units of two Swiss banks, fining some of the world’s biggest lenders and seizing S$240 million of assets.
The White House throws cold water on Trump’s suggestion that…
President Barack Obama and President-elect Donald Trump spoke in what was described as a “positive” phone call on Wednesday, the White House announced in a statement. “Today’s call, like the others since the election, was positive and focused on continuing a smooth and effective transition,” the White House said in the statement.
Stock Face-Off: Verizon Communications Inc. vs. Sprint Corp.
In an industry where economies of scale play a deciding role, this is a massive business advantage for Big Red. The company can strike billion-dollar deals without breaking a sweat, take large business risks without betting the farm, and negotiate from a position of cash-backed strength.
Good News and Bad News for Fitbit, Inc.
Channel inventories could also potentially be a bit high, which would affect first-quarter results if retailers don’t need to restock all that much. Given an environment of pessimism, a little bit of good news could go a long way.
Does This Amazon Prime Offer Even Make Sense?
Prime membership programhas become something of the industry gold standard for retail loyalty programs. For $99 a year, members receive free two-day delivery on virtually everything they purchase on the site, including groceries, plus get access to movies, musics, e-books, and more.
Apple, Inc. Has a Major Disconnect Between the Buy-Side and the Sell-Side
If it wasn’t clear by now, investors should always take sell-side research notes with a grain of salt , and they should never act solely based on said research reports. Sell-side analyst opinions are but one of many factors that investors should incorporate into investing decisions.
Toshiba Falls by Record as Ratings Cut on Looming Writedown
Toshiba Corp. plunged by the most on record in intraday trade after the company’s credit ratings were cut following an announcement it may write down billions of dollars of an acquisition made by U.S. unit Westinghouse Electric. The shares fell as much as 26 percent, the most since 1974, according to available data, to 232 yen in Tokyo on Thursday.
San Francisco Software Startup AppDynamics Files for U.S. IPO
The San Francisco-based company filed with an initial offering amount of $100 million, a placeholder used to calculate fees that will probably change. Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co.
China Banking Official Urges Cut to Required Reserve Ratio
China’s requirement for how much cash banks must hold as reserves is “very high” and should be reduced at an “appropriate time,” a senior banking regulator said, according to a media report. Other financing tools can be used to manage the money supply after easing the required reserve ratio, China Banking Regulatory Commission official Yu Xuejun said at an event in Beijing, Shanghai Securities News reported Wednesday.
Why Twilio, Northern Dynasty Minerals, and Ionis Pharmaceuticals Slumped Today
The stock market performed poorly on Wednesday, coasting into the end of what has been a strong year for most major market benchmarks. Popular stock market indexes were down as much as 1% on the day, and the Dow Jones Industrials fell by triple digits, getting further away from the much-watched 20,000 level.
What Happened in the Stock Market Today
NVIDIA shares fell 6% on heavy trading volume as investors tried to catch their breath following the stock’s huge rally. It had gained 7% in the previous session and is up 64% over just the last three months.
Bankrupt Hanjin selling Port of Seattle terminal operations
Bankrupt shipper Hanjin is selling its Port of Seattle terminal operations to one of the world’s largest cargo firms. The Seattle Times reports Hanjin Shipping Co.
3 Bank Stocks to Buy
Bank stocks have been on an absolute tear in the past month following the election of real estate mogul Donald Trump as president of the United States. Shares in JPMorgan Chase are up over 18% since Nov. 9, Bank of America is up a whopping 26%, and even the currently scandal-embroiled Wells Fargo has seen its shares rise 21% in anticipation of financial deregulation under President Trump.
Trump touts thousands of new jobs in deal with SoftBank CEO
President-elect Donald Trump says wireless carrier Sprint Corp will bring 5,000 jobs back to the United States. President-elect Donald Trump announced Wednesday that he has reached a deal with SoftBank chief executive Masayoshi Son that would generate thousands of jobs in the United States, the latest in a string of unusually direct negotiations between Trump and corporate America.
UK firms’ finance bosses say uncertainty is ‘new normal’
UK finance chiefs have become more optimistic about the future, even though uncertainty is now the “new normal” for businesses. A survey by Deloitte found that 27% of 119 finance directors whom the accountancy firm questioned in the fourth quarter were more optimistic, helped by better GDP growth.
My ’15 Surprises for 2017′ List
It should come as no surprise that after pulling off U.S. political history’s greatest surprise ever, Donald Trump is the subject of — and catalyst for — the principal events that I’m putting on my annual “15 Surprises for the Coming Year” list. For those of you unfamiliar with this list, it’s my annual rundown of “possible improbables” that smart traders and investors should watch out for.
Holiday Phone Activations Bode Well for Apple’s iPhone 7-Plus Sales
But the numbers also suggest Apple’s smartphone sales mix improved for the better. Flurry, which relies on anonymized usage data from the thousands of mobile apps connected to its analytics tools, reports Apple products accounted for 44% of the smartphone and tablet activations it recorded from December 19 to December 25. That’s down from the 49.1% reported for the same week a year ago .
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George Primentas from London is behind The Missing Graph. He tells us that he’s been designing infographics inspired by business news since October.
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Most people focus on the income taxes they pay to their federal and state governments, spending countless hours preparing returns. But for many people, residential property taxes make up a sizable portion of their overall tax bill.
Will Spinraza Supercharge Biogen’s Top Line Next Year?
SMA is an inherited neurological disorder that results in progressive muscle wasting, impacting a person’s ability to move and even breathe. Although this disease is rare, with a U.S. incidence rate of 1 in 10,000 live births, it is the leading genetic cause of death in infants, and prior to Spinraza’s approval it lacked any form of effective pharmaceutical intervention.
Why Sandstorm Gold, Weis Markets, and Intercept Pharmaceuticals Jumped Today
Wednesday was a downbeat day for the stock market, as major market benchmarks fell sharply in yet another disappointing failure for the Dow Jones Industrials to hit the 20,000 mark. The Dow was off more than 100 points, and the S&P 500 and Nasdaq Composite posted even steeper percentage declines as the end of the year approached.
Why Kate Spade & Co. Stock Jumped Today
The stock began surging this afternoon, when The Wall Street Journal reported that the company was exploring a sale. Activist hedge fund Caerus Investors had been pushing for a sale, noting the stock’s decline since a 2014 peak, as it’s lost half of its value since then.The Journal said buyout efforts were at an early stage, as it’s working with an investment bank to reach out to potential buyers.
Precious Metals Sell-Off Provides ETF Tax-Loss Harvesting Opportunities
Investors who were unfortunate enough to be swept along the recent sell-off in precious metals may look to exchange traded funds to implement a tax-loss harvesting strategy to help reduce their bill come tax season.
CBS Expects to Add 3 Million More Streaming Subscribers by 2020
In that time, it’s added 1.2 million subscribers, according to a recent report from The Wall Street Journal . That number is up from the 1 million subscribers CBS reported for both All Access and its Showtime OTT service in July.
Trump: Sprint will bring 5,000 jobs back to U.S.
Dec. 28, 2016 – 4:15 – Democratic Strategist Danielle McLaughlin and Founder & Co-Chair of Great American PAC Eric Beach weigh in on Trump saying Sprint will bring 5,000 jobs back to the U.S.
No Happy New Year in China as Currency, Liquidity Fears Loom
The first day of 2017 is when an annual $50,000 quota to convert the yuan into foreign exchange resets, stoking concern there will be a rush to sell the local currency. With tax payments and a regulatory assessment also tightening liquidity in the money market toward year-end, January may bring scant relief as lenders prepare for stronger cash demand before Lunar New Year holidays, which are only a month away.
Fox News host with close ties to Trump discusses his dynamic…
While Trump continues to tap network personalities for top administration posts, one Fox News star who will remain at the network stands poised to also personally benefit from Trump’s ascension to the presidency: Eric Bolling. Along with Sean Hannity, Bolling emerged as one of Trump’s most vocal early supporters on Fox News, saying he knew the real-estate magnate would win as soon as he saw him descending the escalator at Trump Tower to deliver his announcement address.
Fred’s and Nvidia sink while Coach rises
A report says the retailer adopted a “poison pill” to thwart an activist investor from interfering with its plan to buy 865 Rite Aid stores. Click below for the top news from around the Bay Area and beyond.
Britons Hoard Cash as Economic Uncertainties Prompt Caution
Britons are holding onto their cash in a sign that they may be hunkering down in the face of economic uncertainties, according to the British Bankers Association. Personal deposits grew an annual 4.8 percent in November, data compiled by the BBA show.
Oil Trades Near 17-Month High as Market Seen Balancing in 2017
Oil traded near the highest since July last year, spurred by optimism that OPEC and 11 other producing nations will cut production as promised in January to prop up prices. Futures rose an eighth session in New York after closing on Tuesday at the highest since July 2, 2015.
Icahn Sees Doubts About Ethanol Mandate Among Trump’s Advisers
Billionaire Carl Icahn, a special adviser to Donald Trump and a skeptic of the U.S. ethanol mandate, said there are others on the president-elect’s team who have even deeper criticisms of the program. Icahn repeated criticism of the credit trading program that regulators and refiners use to track compliance with federal biofuel consumption quotas.
Mortgage Rates Today, Wednesday, Dec. 28: Slight Decreases;…
Thirty-year and 15-year fixed rates reversed course from yesterday and fell slightly, while 5/1 ARM rates notched up again Wednesday, according to a NerdWallet survey of mortgage rates published by national lenders this morning. November saw newly built, single-family home sales rise by 5.2 percent, according to data released last week by the Department of Housing and Urban Development and the Census Bureau.
Manhattan Luxury Co-Ops Fall Out of Favor as New Condos Beckon
The luxury Manhattan co-op, a longtime sign of real estate prestige and exclusivity in New York, may be losing its appeal. Blame a glut of newly built high-end condos.