In this one-year daily bar chart, above, we can see how DOW was consolidating mostly between $50 and $54 from April through November. In December, DOW finally moved higher with increased volume, a rising On-Balance-Volume line and positively sloped moving averages.
Day: January 26, 2017
As Churn Sets In, Bulls Still Have the Edge
The action was a bit sloppy today but it didn’t amount to much other than some consolidation after a breakout. The hardcore bulls would have preferred continued momentum and the bears had their fingers crossed for a big reversal, but we ended up with some routine churning.
Broadband in New York to get funding boost
FCC will reverse course and direct $170 million to the Empire State after threatening to bid the money out elsewhere. Broadband in New York to get funding boost FCC will reverse course and direct $170 million to the Empire State after threatening to bid the money out elsewhere.
Wynn misses 4Q profit forecasts
On a per-share basis, the Las Vegas-based company said it had net income of $1.12. Earnings, adjusted for non-recurring gains, came to 50 cents per share.
US stock indexes drift mostly lower; Dow ekes out gain
Screens for the Nasdaq Composite and Nasdaq-100 are displayed at Nasdaq, Thursday, Jan. 26, 2017, in New York. It’s been a record-making week on Wall Street.
Microsoft beats Street 2Q forecasts
On a per-share basis, the Redmond, Washington-based company said it had net income of 66 cents. Earnings, adjusted for non-recurring costs, came to 83 cents per share.
DISH Network Corporation (DISH) Lifted to Overweight at Morgan Stanley
Morgan Stanley currently has $75.00 target price on the stock. The analysts noted that the move was a valuation call.
Trump names Ohlhausen as acting chair of Federal Trade Commission
Commissioner Maureen Ohlhausen, a Republican on the Federal Trade Commission, has been named the FTC’s acting chairman, the agency said Wednesday. In addition to Ms.
New area code may be headed to Central Jersey
New area code may be headed to South Jersey The state’s Board of Public Utilities is considering a new area code for South Jersey. Check out this story on mycentraljersey.com: http://northjersy.news/2jAGo3X The board found out in October 2015 that the 609 area code would run out of available numbers in 2018 if a new area code was not added to that part of the state.
Why Scientists Just Reset The Doomsday Clock Closer To Midnight
The clock is now the closest it’s been to midnight since the 1950s, with scientists citing “alternative facts” and threat of nuclear arms. [Source images: National Nuclear Security Administration / Nevada Site Office via [i] Wikimedia Commons ; Clock: via Bulletin of the Atomic Scientists] [/i] In a series of statements alluding to President Donald Trump’s fiery rhetoric, experts from the Bulletin of Atomic Scientists moved its Doomsday Clock forward to two-and-a-half minutes to midnight on Thursday.
Vanguard vs. TD Ameritrade: Opening an IRA to Save for Retirement
When you’re ready to start saving for retirement, opening an IRA account with a brokerage would be a logical first step. Many brokerage IRAs offer a vast assortment of investment opportunities in stocks, bonds, options, mutual funds, and ETFs, and make it possible to trade from the comfort of your own home.
Speculation Builds on a Verizon-Charter Tie-up, No Offer Made
U.S. cable company Charter Communication Inc shares rose as much as 10 percent on Thursday after the Wall Street Journal reported a preliminary approach by Verizon Communications Inc about a tie-up, but Reuters sources said no proposal was made. Speculation over a combination of the two companies has been building steadily since last month, when Verizon Chief Executive Officer Lowell McAdam told Wall Street analysts that such a deal would make “industrial sense.”
Slow fix: VW diesel owners complain of buyback delays
In this Tuesday, Jan. 24, 2017, photo, Volkswagen vehicles are stored at the vacant Silverdome in Pontiac, Mich. The Volkswagen TDIs are in the center of the emissions scandal forcing Volkswagen to buy back those vehicles affected.
Oil up on Stock Market, but U.S. Supply Caps Gains
Oil prices were driven 2 percent higher by an ongoing rally in the U.S. stock market on Thursday, although gains were capped by plentiful supplies and bulging inventories in spite of efforts by producers to cut output. U.S. light crude futures were up $1.22 to $53.97 a barrel, a gain of 2.2 percent, while Brent crude rose $1.25, or 2.3 percent, to $56.33 by 10:49 a.m. ET .
Johnson & Johnson’s Most Exciting Opportunity
Can cancer drug sales continue to soar? Here’s why cancer drugs could be Johnson & Johnson’s most exciting opportunity in 2017. Global spending on cancer drugs eclipsed $100 billion two years ago, and aging and longer-living populations worldwide have IMS Health projecting that global spending on cancer medicine could hit $150 billion in 2020.
Homebuilder ETFs Still Offer Something to Build On
Speculation that new President Donald Trump could benefit homebuilder equities and the related exchange traded funds is showing signs of coming to fruition. To start 2017, the SPDR S&P Homebuilders ETF and the iShares U.S. Home Construction ETF are up average of 4.8%.
Hearing For Trump Labor Nominee Puzder Delayed: Reports
The Senate confirmation hearing for Donald Trump’s labor secretary nominee, Andrew Puzder, has been delayed, according to published reports.
Dow Holds Above 20,000 as Investors Focus on Earnings
The Dow Jones Industrial Average stayed firmly above 20,000 on Thursday, after breaching the milestone a day earlier, while losses in tech stocks weighed on the S&P 500 and the Nasdaq Composite indexes. Qualcomm fell 5.1 percent to $54.04 after the chipmaker reported a lower-than-expected rise in quarterly revenue.
CFTC Fines E*TRADE For Allegedly Destroying Customer Records
The U.S. Commodity Futures Trading Commission settled charges against Chicago-based E*Trade Securities LLC , an introducing broker, and E*Trade Clearing LLC, the firm’s futures broker-dealer, for record-keeping and supervision violations. According to the CFTC order, between October 2009 and January 25, 2014 E*Trade Securities and E*Trade Clearing allowed audit trail logs for their customers trades to be destroyed after 10 days rather than that maintaining them for use by regulators who use the records to monitor the firm’s compliance with laws and regulations.
Better Buy: AT&T Inc. vs. T-Mobile US Inc.
For most of its history, investing in telecom companies was a pretty straightforward process. Huge barriers to entry and a certain level of government regulation protected these giants.
Advisers could land $100 million payday from Actelion sale
Advisers could pocket up to $100 million in fees from Johnson & Johnson’s $30 billion acquisition of Swiss biotech firm Actelion , the largest takeover of a European healthcare business in more than a decade. Four investment banks will share the advisory pot; J&J could cough up $30-$40 million in fees to its advisers, Lazard and Citi, while Actelion is expected to pay $45-$60 million to Bank of America and Credit Suisse, according to estimates from Thomson Reuters/Freeman Consulting.
5 Things Schlumberger Management Wants You to Know About the Oil Market in 2017
If you want an idea of where the oil market is headed, the first thing you need to read is a conference call transcript from Schlumberger . As the world’s largest oil services company, it has connections with just about every producer out there, from the titan Saudi Aramco to the small mom-and-pop shops in the U.S. That extensive network gives the company a pretty good pulse of the market.
3 Reasons Gilead Sciences Inc. Stock Could Rise
Here are three things that could get shares turned around. OK, so perhaps anything is a bit extreme.
3 Dumb Mortgage Moves
Interest rates have been inching up, with the 30-year fixed mortgage rate recently approaching4%. According to the Federal Reserve and general expectations, they’ll continue rising in the coming years.
2 Stocks I’ll Hold Forever
Picking out stocks to hold on to forever is an incredibly challenging task. In doing so, you’re essentially saying that this company, as it stands, won’t be disrupted in one way or another for as long as you live and beyond.
The 1 Key Metric Sunoco LP Investors Should Focus On
As an owner of retail fueling stations and wholesale fuel marketing, it is in one of the most stable components of the oil and gas value chain. Based on the company’s stock performance, though, it has been anything but stable over the past five years.
Biogen 2017 Revenue Guidance Looks OK With Spinout Adjustment
For 2017 to work, Biogen needs a successful commercial launch of Spinraza, the newly approved treatment for spinal muscular atrophy, a rare and fatal disease that strikes kids. Biogen said Thursday that it expects no revenue growth in 2017 compared to last year, at best.
Bristol-Myers Squibb Falls as It Cuts 2017 Outlook
Bristol-Myers Squibb on Thursday cut its guidance for 2017, saying it now expects adjusted earnings of $2.70 to $2.90 a share for the year, down from its previous guidance of $2.85 to $3.05. In the fourth quarter, the drugmaker posted earnings of $894 million, or 53 cents a share, compared with a loss of $197 million, or a loss of 12 cents, a year earlier.
Dow hits 20,000 but all anyone wants to talk about are bonds — Guilfoyle
Interestingly, on a very strong day for equities, the majority of e-mails that I fielded yesterday involved bonds. From sell-side sales traders, and from retail traders alike, either to ask what I thought, or to offer their own opinion, there seemed to be a theme.
Baker Hughes Rises Despite Reporting Fourth-Quarter Loss
The oilfield services giant reports a wider-than-expected loss, but sees North America revenue rising for the first half of 2017. Shares of Baker Hughes were rising by more than 1% in premarket trading Thursday, despite the company reporting a wider-than-expected loss, as the oilfield services giant sees North America revenue rising in 2017.
Dow Chemical Crushes Estimates, Looks Toward Closing $130 Billion Mega Merger
Dow Chemical posted stronger-than-expected fourth-quarter operating earnings and revenue Thursday and said it remains focused on the closing of its $130 billion merger with DuPont Operating earnings for the three months ended in December were 99 cents a share, the company said, well ahead of estimates of 88 cents, and up 6.45% from the same period last year. Headline results, however, indicated a quarterly loss of 3 cents a share.
Trade These 3 Volatility Breakout Stocks
These three stocks have been undergoing a squeeze, or a period of price compression that is usually resolved by a volatile move. The technical indicators suggest they will rise.
Comcast Beats Earnings Estimates, Declares 2-For-1 Stock Split
CEO Brian Roberts said Comcast posted its best video customer results in a decade, and its best internet customer results in nine years. The country’s largest cable-TV provider exceeded Wall Street’s expectations in the fourth quarter, handily beating estimates for both revenue and profits on higher licensing and affiliate fees for its cable-TV and broadcast networks.
Amazon Shipping Initiative Highlights Its Plan to Improve Service
Amazon this week said that it would begin handling ocean shipment of goods from Chinese companies that sell on its site. The initiative is part of a larger effort by the company to improve its logistics and shipping and, in turn, provide better delivery service to customers worldwide.
Stock Futures Rise as Comcast, eBay Top Earnings Forecasts
Stock futures rise on Thursday, looking to add to a historic rally a day earlier, as positive earnings continue to filter in. Stock futures rose on Thursday, looking to add to a historic rally a day earlier, as positive earnings continued to filter in.
It’s Now Time to Forget Apple Has Been One of the Best Growth Opportunities Ever
On Tuesday, Barclays analyst Mark Moskowitz downgraded Apple , prompting concerns among investors that the company will have a difficult 2017. The downgrade comes days before the iPhone maker is set to release its first quarter earnings on Jan. 31. Apple shares rose 1.60% in Wednesday trading.
Shopify Partnering with Amazon is a Huge Step; Continued Growth Seems Likely
Shopify delivered exceptional returns to its investors in 2016. If it continues to grow sales, and that seems likely, 2017 could see further stock price appreciation.
Rev’s Forum: Sometimes a Breakout is Just a Breakout
The most important news on Wednesday wasn’t that the Dow Jones Industrial Average finally surpassed the 20,000 level. The most important news was that the indices broke out a six-week trading range and moved past the highs that occurred in December.
3 Small Frontier Markets Could Leap Forward This Year
With President Donald Trump’s attack on China’s trade policies and his signing of an executive order to start building the Great Wall of Mexico , investors would be forgiven for thinking that emerging markets are getting out of fashion. Still, to expand on a point I made yesterday , the differences in terms of business environment between developed and developing countries are narrowing, and not in a good way: developed markets are slipping, rather than emerging markets progressing.
Tackle Todaya s Market Challenges with a Human-Centric Approach
Investors face myriad challenges as we move into 2017. Elevated equity valuations, rising interest rates, and anticipated volatility are creating an environment in which growing capital is a particularly tough proposition.