Workday also noted it isn’t updating its latest financial guidance, which incidentally caused Workday stock to plunge last month as the company warned a few larger deals with multinational customers had been delayed. More specifically, Workday told investors to expect fiscal fourth quarter to be in the range of $427 million to $430 million.
Day: January 11, 2017
LA sets records for tourism, LAX traffic and port cargo in 2016
Three sectors of the Los Angeles-area economy sizzled last year, with tourism, air travel and cargo volume at the ports all hitting record levels, officials said Wednesday. Tourism led the way, with records set across a number of categories, according to the Los Angeles Tourism & Convention Board.
Trump Concerns Have Hedge Fund Investor Lifting China Allocation
As U.S. stocks rally on optimism Donald Trump’s presidency will be good for growth, hedge fund investor Ronnie Wu is looking on warily. Wu, who oversees $350 million at Penjing Asset Management Ltd. in Hong Kong, is concerned Trump’s mix of tax cuts, deficit spending and protectionism will hurt trade and spur higher inflation and interest rates, threatening global growth.
U.K. Bankers Make Fresh Appeal to May for Special Brexit Deal
The U.K.’s finance industry made a fresh push for a special Brexit deal tailored to its needs, even after Prime Minister Theresa May again signaled she wouldn’t make any exceptions for the City. “The U.K. and the European Union should conclude a bespoke agreement that delivers mutual market access, transitional arrangements to allow for enough time to implement the new relationship and access to talent,” industry lobby group TheCityUK said in a report Thursday.
U.A.E. Says $50 Oil – Isn’t Going to Cut It’ for Most Producers
Crude oil at $50 a barrel is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Prices have climbed more than 15 percent to above $50 a barrel since the Nov. 30 agreement by the Organization of Petroleum Exporting Countries to cut production for the first time in eight years to curb a global glut.
Is This President Obama’s Parting Shot at Gun Owners?
With just weeks to go in his administration, President Obama will see finalized a rule he pushed for three years ago to deny certain Social Security benefits recipients the right to purchase firearms, a sweeping denial of Second Amendment rights that has critics in an uproar. The rule would have the Social Security Administration feed into the national background check system its information on people getting disability benefits who have a mental health issue.
Press release distribution, EDGAR filing, XBRL, regulatory filings
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Facebook is working on a way to read brain waves that could…
Facebook is working on a way to read brain waves that could let your send your thoughts to people Mark Zuckerberg’s dream of gadgets that let humans read each other’s thoughts and communicate with brain waves may be moving closer to reality. A secretive new research division that Facebook created last year is developing “brain-computer interface” technology that sounds a lot like the telepathy of science fiction movies.
Trump’s Homeland Security pick is seen as the best man for the…
Despite the acrimony around many of President-elect Donald Trump’s cabinet selections, the confirmation hearing for one of them, Homeland Security Secretary candidate Gen. John Kelly, appears to be going smoothly.
Yen Gains, Japan Stocks Drop After Trump Comments: Markets Wrap
The yen strengthened for a fourth day and Japanese stocks retreated after Donald Trump’s first press conference since his election victory gave scant detail on policy. Shares of commodity producers climbed after crude oil surged.
Samsung boss questioned in South Korea corruption probe
Samsung chief Lee Jae-yong is being questioned at the prosecutor’s office in Seoul as a suspect in South Korea’s biggest political corruption scandal. The firm is accused of giving donations to several non-profit foundations operated by Choi Soon-sil, a confidante of President Park Geun-hye.
AdvanSix: Jim Cramer’s Top Takeaways
Breaking up is a great way to create value for shareholders, Cramer reminded his “Mad Money” viewers Wednesday, as he took a closer look at AdvanSix , the recent spinoff from long-time Cramer fav Honeywell . Cramer explained that after its failed merger attempt with United Technologies last year, Honeywell crafted a new plan: to spin off its nylon and fertilizer business as AdvanSix, which began trading as an independent company in September.
UnitedHealth Group: Jim Cramer’s Top Takeaways
No one know what will happen with health care once Donald Trump takes office, Jim Cramer told his “Mad Money” viewers Wednesday night, but that doesn’t mean there aren’t ways to make money in health-care stocks. For months now, the mantra has been “repeal and replace” when it comes to Obama’s Affordable Care Act.
Mobileye Outlines Why It Considers Itself an Autonomous Driving Leader
BMW, which announced at CES it plans to deploy 40 autonomous test cars in 2017 that feature Mobileye and Intel I talked with Mobileye Chief Communications Officer Dan Galves about how his company, the biggest supplier of vision processors for driver-assistance systems, is positioned in the budding autonomous driving hardware market. And what the company considers its main strengths relative to the competition.
Why Perrigo, Novadaq Technologies, and Ethan Allen Interiors Slumped Today
Wednesday was a strong day for the stock market, as the Dow finished up nearly 100 points and the S&P 500 and Nasdaq both posted gains as well. Investors remained generally upbeat about the prospects for the U.S. economy in 2017, and a rise in crude oil prices helped lift the energy sector higher during the market session.
Why Nike Inc Stock Got Punished in 2016
The behemoth athletic wear maker has had difficulty during the year with slowing sales growth and declining margins — but mostly it struggled to regain positive sentiment from Wall Street for the impressive moves it’s been making. In the company’s fiscal Q2 earnings released on Dec. 20, Nike announced sales growth of 6% year over year and earnings up 11%.
Intel Corporation Executive Wants to Rename Its Next Big Manufacturing Jump
Near the end of his presentation, Shenoy talked about Intel’s chip manufacturing strategy, exuding confidence that the company’s manufacturing technology is the ” best in the world .”
How 8×8, Inc. Gained 27% in 2016
The provider of internet-based voice and communications services put together a remarkable financial record last year. 8X8 beat Wall Street’s earnings and sales estimates handily in each one of the year’s quarterly reports,citing strong organic revenue growth among larger customers along the way.
Apple, Inc. Continues to Slip in China
Kantar has released its most recent estimates on numerous smartphone markets around the world, covering the three months ending November 2016 before the holiday shopping season picked up steam. Well, the news is mixed.
3 Reasons Investors Should Keep an Eye on Shopify Inc
The company’s business model is pretty simple: Sign up merchants, charge merchants to use its platform, help merchants sell stuff, and take a small percentage from each sale. Then, rinse and repeat at alarger scale with more profitability.
FCC takes aim at AT&T, Verizon over ‘zero-rating’ services
The Federal Communications Commission expressed concerns on Wednesday about “zero-rating” services from AT&T and Verizon that “may harm consumers and competition.” In a report issued Wednesday examining four different zero-rated services, the FCC’s Wireless Bureau found that AT&T’s Sponsored Data program and Verizon’s FreeBee Data 360 program may stifle competition by “potentially unreasonable discrimination in favor of their own affiliates.”
Closing arguments paint differing picture of Burlington bank teller…
An assistant U.S. attorney told jurors Wednesday a Burlington woman facing federal embezzlement charges was a “malevolent” bank employee who manipulated the Central National Bank to steal more than $700,000 while her defense attorney attempted to cast doubt on the notion a single person could take such a large amount over several years without being noticed. Closing arguments were made Wednesday morning at the Frank Carlson Federal Building in the federal case of Denise Christy, a former employee of the Central National Bank in Burlington, who faces charges that include embezzlement and money laundering.
Fitbit Off to Slow Start in 2017 as Devices Pile Up, Report Says
The maker of wearable fitness trackers halted production in mid-December because the devices were piling up at retailers and suppliers amid disappointing sales, according to a report by the firm published Tuesday. Demand so far this year is “characterized as weak,” Cleveland Research said, suggesting analysts’ estimates for 2016 fourth-quarter earnings may be too high.
Ex-Barclays Director Gets Five Months for Tips to Plumber Pal
A former Barclays Plc director was sentenced to five months in prison for passing merger tips to a plumber friend and getting cash and free tiling in return as a judge rejected his request for probation. Steven McClatchey pleaded guilty in July after prosecutors said he passed information that Gary Pusey used to make 10 illegal trades in companies including Questcor Pharmaceuticals Inc., PetSmart Inc., Emulex Corp. and Omnicare Inc. Pusey, who pleaded guilty and agreed to cooperate with prosecutors against his former friend, made about $75,000 on the trades, prosecutors said.
You’ll probably get to keep watching free video on your phone -…
The Federal Communications Commission staff has finally determined that AT&T and Verizon are likely violating net neutrality rules by offering their own video services without data charges. However, in taking more than a year to weigh in, the agency has likely lost its chance to rein in the practice.
SAPVoice: Brooks Brothers Innovation Elevates Customer Experience
Every retailer is fighting to win customers. Competition comes from all places in all sizes and consumer loyalty is hard won.
Game on: Scout Media Can Pursue Discovery Against Jim Heckman
The college sports website network operator has accused its former chief executive of sabotaging its relationships with its team site publishers. College sports website network operator Scout Media has secured approval to pursue discovery against its founder and former chairman and chief executive, Jim Heckman.
Mylan’s Troubles Just Won’t Stop as Key Insurer Drops EpiPen
Cigna will no longer cover Mylan’s EpiPen and EpiPen Jr. autoinjectors, instead encouraging patients to use Impax ‘s generic device for treatment of severe allergic reactions. The move was effective as of Jan. 7, when Cigna released a list of changes to coverage for 2017.
Facebook Launches ‘Journalism Project’ to Help Address Fake News Problem
The social network has launched a new initiative intended to foster deeper relationships with media organizations and promote news literacy. Facebook on Wednesday announced the Journalism Project, a new effort that aims to create a healthier “news ecosystem” on the social media site by forming closer ties with media organizations.
The Market Is a ‘Tightly Coiled Spring’
The Nasdaq Composite closed at a record high on Wednesday for the third time this week, while the Dow Jones Industrial Average , S&P 500 and Russell 2000 rose as well, though not as impressively, all finishing in the green. Despite the health care bump evoked by President-elect Donald Trump during his midday press conference, one of the leaders during Wednesday’s session proved to be the transports.
Amazon Announces A Card That’s Almost Too Good To Be True
Earlier today Amazon announced its new Prime card, a credit card with no fee, ordinary interest and a whopping 5% cash back on Amazon purchases. For Amazon Prime shoppers, life has just gotten a little cheaper.
Try These 3 Under-the-Radar Trump Stocks: U.S. Concrete, Forterra and Volaris
Shares of U.S. Concrete have surged 22% since Election Day, but there is more to the bullish story than having a former builder in the White House. Shares of U.S. Concrete have surged 22% since Election Day, but there is more to the bullish story than having a former builder in the White House, said Craig Hodges, portfolio manager of the Hodges Fund .
AT&T Keeps Getting Its Profit Estimates Slashed by One Wall Street Firm
Shares of AT&T fell by about 1% on Wednesday after the stock’s rating was downgraded to “hold” from “buy” at Deutsche Bank because of weaker margins and slower earnings growth, according to the firm’s note. Deutsche also lowered its price target on the stock to $43 from $44.
SoFi: A Financial Services Provider That Is So Not Wall Street
In the old days, banks were imposing granite buildings housing massive vaults and offering 3% on savings and 6% mortgages. Later they morphed into unassuming suburban branches distinguished from fast-food outlets primarily by having multiple drive-through lanes.
‘Sell the Trump Presser’ Can’t Hold; Dow 20K on Thursday?
The “sell the Trump press conference” trade worked for about two hours but it was probably too crowded. It was an obvious setup and when that is the case there are always dip buyers lurking.
Tom Wheeler accuses AT&T and Verizon of violating net neutrality
With just over a week left as chairman of the Federal Communications Commission, Tom Wheeler today accused AT&T and Verizon Wireless of violating net neutrality rules with paid data cap exemptions. But with the FCC about to switch to Republican control after next week’s inauguration of President-elect Donald Trump, AT&T and Verizon can likely keep doing what they’re doing without any chance of punishment.
Will Goldman Sachs Raise Its Dividend in 2017?
With the highest share price among the Dow 30, Goldman is responsible for more than 8% of the value of the price-weighted index, and that gives it more power over the movements of the Dow than the six cheapest Dow stocks combined. That said, dividend investors aren’t all that happy with Goldman Sachs, because its current dividend yield is puny, resting just above the 1% mark.
REIT ETFs Are Making a Comeback
Real estate investment trusts weakened since the summer months on prospects of a rising interest rate environment, but sector-related exchange traded funds are clawing back after Donald Trump won the elections. The Vanguard REIT ETF , the largest REIT ETF, has gained 2.3% over the past month.
The Recovery in Chipotle’s Stock Price Has Officially Begun
That time, I believe, has now arrived. On Monday, Chipotle took the unusual step of pre-reporting its fourth-quarter results.
Mexico ETF Takes Another Hit from Trump
Mexico country-specific exchange traded fund continued to weaken Wednesday as the peso currency depreciated to a historic low shortly following President-elect Donald Trump’s new conference. The iShares MSCI Mexico Capped ETF fell 0.7% Wednesday, breaking down to new all-time lows as the peso currency weakened to MXN21.9381 against the U.S. dollar.