WDC has doubled since the low made in May, but this rapid pace is probably going to slow as momentum has weakened and overhead resistance looms. This analysis is not different from our observations back on Dec. 3 when we said, “I would trade WDC from the long side, risking below $60 even though gains may be slow going in the weeks ahead.”
Month: January 2017
Finding a Diamond in the Energy Rough
GPOR has given up nearly half its value since the October highs, and although I don’t see many mid-cap names I find compelling at the moment, I’m taking a half-sized long position in GPOR shares. By half-size, I mean if my normal trading size is 4% of the portfolio, then I’m using 2%.
Enough Already With ‘Trump-On-Trump-Off’ Trading
I’m hearing that the new market dynamic is “Trump on, Trump off.” That what’s driving the market every day it seems.
EpiPen competitor to launch in February
A major competitor to EpiPen, the lifesaving allergy injection that has become the latest flashpoint in the debate over high drug prices, will launch on Valentine’s Day at a list price of $360 for a two-pack, the company KalA o announced on Thursday. For years, pharmaceutical company Mylan hiked the price on EpiPen — to $609 for a two-pack, enjoying a near monopoly on the growing allergy injection market.
Inauguration Performer Jackie Evancho Just ‘Going With’ Trump Momentum
Sixteen-year-old singing sensation Jackie Evancho says she is just “going with” all the Trump momentum she is experiencing – both positive and negative – since it was announced last month that she will sing at the president-elect’s inauguration on Friday. “I am noticing a bit more traction.
Why Zynerba Pharmaceuticals Inc. Is Tanking Today
Zynerba Pharmaceuticals announced that it is selling 2.8 million shares of its common stock at a price of $18.00 per share. The offering is expected to net the company slightly more than$50 million.
U.S. Stock-market Futures Hold Lower After ECB Keeps Rates Unchanged
U.S. stock futures on Thursday traded slightly lower after the European Central Bank kept its interest rates unchanged as expected. Dow futures were off 0.1% at 19,712, the S&P 500 index futures slipped 0.1% at 2,264, while those for the Nasdaq-100 were near break-even levels at 5,051.
Target To Partner With Major League Soccer, Make Big Push Into The Sport
Target Corp. will be the official partner of Major League Soccer, marking its largest push into team sports, the company said Thursday. The multi-year partnership includes airtime during broadcasts and in-stadium experiences.
Sears To Replace Employee Discount Program With New Points Program
Sears Holdings Corp. will replace its associate discount program with a new associates points program that will award points and other perks through the company’s Shop Your Way loyalty program, effective Jan. 29. With the current system, a discount is taken on items at the time of purchase. Under the new points program, associates will receive 20% back in points on softlines categories, such as clothing, and 15% back on hardlines purchases, such as home furnishings and appliances, according to company spokesperson, Howard Riefs.
Over 652K vehicles involved in latest Takata air bag recall
Thirteen automakers are recalling more than 652,000 vehicles in the U.S. in the latest round of dangerous Takata air bag inflator recalls. Automakers with front passenger inflator recalls posted Thursday are Audi, Nissan, Jaguar-Land Rover, Subaru, Daimler Vans, Tesla, Mitsubishi, BMW, Ferrari, Mercedes, Mazda, McLaren and Karma.
Netflix Adding $4.7 Billion To Market Cap As Stock Soars Toward Record High
Shares of Netflix Inc. soared 8.2% toward a record high in premarket trade Thursday, in the wake of a strong fourth-quarter report , which would add about $4.66 billion to video streaming company’s market value. Based on Wednesday’s closing prices, that would push Netflix up eight spots in the S&P 500’s market-cap rankings to 78th, according to FactSet data.
European And U.S. Bond Yields Remain Higher After ECB Rate Decision
Yields on U.S. Treasury bonds and European sovereign bonds remained higher on Thursday after the European Central Bank left its benchmark interest rate and bond-buying program unchanged. The yield on the 10-year Treasury rose 1.5 basis point to 2.444%, while the yield on the 10-year German bund, considered the European benchmark, rose 3.3 basis points to 0.389%.
ECB Maintains Stimulus as Growth Picks Up Speed
The European Central Bank kept its super-easy monetary policy unchanged as expected on Thursday, maintaining extraordinary stimulus to aid a tepid recovery in growth after nearly a decade in the doldrums. With growth slowly picking up pace, the ECB kept rates deep in negative territory and asset buys at a record pace, likely arguing that the recovery is not yet self sustaining and underlying inflation is still too low.
ECB Leaves Rates Unchanged; Draghi Up Next
The European Central Bank, as expected, left interest rates unchanged Thursday, putting the focus on ECB President Mario Draghi’s news conference. The ECB Governing Council left its rate on main refinancing operations at 0%, while holding the rate on its overnight deposit facility at minus 0.4% and the rate on its marginal lending facility at 0.25%.
Better Buy: Chipotle Mexican Grill, Inc. vs. Panera
Both companies have pushed the idea that they offer better food than their cheaper fast-food rivals. That has allowed them to price higher, discount less, and attract an audience seeking a better, but still relatively quick and inexpensive, meal.
5 Facts About Stocks Every Retiree Should Know
Many retirees think that they should pull away from the stock market, mistakenly believing that the risks involved with stocks makes them unsuitable investments for a retiree’s portfolio. Yet the fact is that with retirees living longer than ever, having stocks in your investment portfolio is almost a necessity if you want your retirement nest egg to provide enough growth to meet your financial needs for the rest of your life.
At HSN, smartphones are the flagship store
For many legacy retailers, online sales still make up only a tiny fraction of their overall sales haul. And yet it’s a much different story at HSN, the parent company of the eponymous home-shopping network as well as brands such as Garnet Hill.
Complimentary Coverage Area Products Available from TitanTV, Inc.
With the ongoing Reverse Spectrum Auction, TitanTV, Inc. reminds broadcasters of two free products, Antenna TechSpecs and Signal Area Map, that allow stations to better visualize their signal coverage areas before and after the Federal Communications Commission’s auction off a portion of the broadcast TV spectrum. Antenna TechSpecs Up-to-date technical data about a broadcaster’s transmitters is vital to ensuring its coverage area is accurate.
Galen G. Weston succeeds father as George Weston CEO
Galen G. Weston will succeed his father as CEO of George Weston Ltd., and remain CEO of Loblaw Companies Ltd. The younger Weston will also remain chairman and CEO of the company’s largest subsidiary, Loblaw Companies Ltd., which also owns Shoppers Drug Mart.
Banks ‘working hard’ to keep cash machines free
As a result all 38 members of the LINK network are due to have a series of meetings to try to reach an agreement, beginning next week. But Peter McNamara, the Chief Executive of Note Machine, a member of LINK, said that consumers could face being charged at many more of them.
Sky Deutschland Pushes Further Into Originals With Nordic Noir Series
The German arm of pay TV giant Sky will co-produce it with Norway’s Monster Scripted, TV 2 und Nice Drama. Sky Deutschland, the German unit of European pay TV giant Sky, is continuing its push into original series with Grenseland , or Der Grenzganger in German, a new Nordic noir drama set in Oslo.
European Central Bank keeps key interest rate on hold
The decision by the eurozone central bank’s 25-member governing council to leave its benchmark borrowing rate on hold had been expected. It was also decided not to change the ECB’s bond-buying stimulus scheme, which was extended last month amid worries about economic growth.
ECB’s Mario Draghi gets his turn to speak on inflation — Guilfoyle
“Remember not only to say the right thing in the right place, but far more difficult still, to leave unsaid the wrong thing at the tempting moment.” — Benjamin Franklin Federal Reserve Chair Janet Yellen spoke on Wednesday afternoon, and she’ll speak again tonight.
Apple, Microsoft Biggest Winners if Trump Grants $500 Billion Tax Holiday
Donald Trump’s presidency could result in a more than $500 billion windfall for Fortune 500 companies should he get his way on tax reform. Fortune 500 companies could reap a more than $500 billion windfall if President Donald Trump gets his way on tax reform.
Is Your Broker a Trusted Adviser or Just Another Salesperson? Finance Industry Wants it Both Ways
In a report Tuesday, two consumer groups said the same financial companies portraying themselves as trusted advisers to customers are arguing in court papers that they’re nothing more than salespeople. Want to drive your brokerage or insurance firm nuts? Send a letter telling them to put the stuff they say in their marketing and advertising in writing to you — or risk losing your business.
Trump’s Demands on Cuba Uncertain, Leaving Companies to Wonder
What President-elect Donald Trump’s plans are for Cuba remain uncertain, leading U.S. companies doing business in the country left to wonder how they will be affected. Friday’s presidential inauguration of Donald Trump threatens to quash the U.S.’s recently-revived relations with Cuba, leaving companies with dealings in the country uncertain about their prospects.
Barclays boss: UK will remain financial lungs of Europe
Jes Staley, chief executive of Barclays, says the UK will continue to be the “financial lungs” of Europe even after it leaves the EU.
Toshiba Drops 16 Percent on Reported Writedown Losses
Toshiba Corp. shares dropped to their lowest since May after a report that the loss in its nuclear business may exceed the 500 billion yen maximum the company had flagged to lenders. The company asked Development Bank of Japan Inc. for financial support and is seeking help from other lenders, the Nikkei newspaper cited people familiar with the matter as saying.
Facebook Pushes Back as Germany Weighs Fines for Malicious Posts
Facebook Inc. defended itself against criticism in Germany that it’s not doing enough to combat hate speech and fake news, telling Chancellor Angela Merkel’s party lawmakers that ridding its platform of such content is highly complex. The social media giant takes its responsibility to fight hate speech and fake news “very seriously,” but countermeasures shouldn’t be applied with a broad brush, because that might have an undesirable impact on free speech, said Eva-Maria Kirschsieper, Facebook’s chief lobbyist in Germany, at a conference Wednesday organized by Merkel’s Christian Democrat-led caucus in Berlin.
Credit Suisse Tops Market in Zurich After Final $5.3 Billion Mortgage Settlement with DoJ
Credit Suisse Group shares gained Thursday after the investment bank followed rival Deutsche Bank in finalizing a multi-billion dollar mortgage bond settlement with the U.S. Department of Justice. Credit Suisse Group shares rose to the top of the leaderboard in Zurich Thursday after the investment bank followed its German rival, Deutsche Bank AG , in finalizing its multi-billion dollar mortgage bond settlement with the U.S. Department of Justice.
Toshiba Shares Plunge on Reports of U.S. Nuclear Writedown, Asset Sales
Toshiba shares plunged in Tokyo on reports it will need to take a larger write down on its U.S. nuclear business and seek cash from its American partner Western Digital Toshiba shares plunged again in Tokyo Thursday following media reports the electronics giant will need to take a larger writedown on its U.S. nuclear business and potentially seek cash from its American partner Western Digital Corp. Japanese media said cost overruns at its CB&I Stone & Webster unit will push writedowns in the newly acquired business to between Y500 billion and Y700 billion , much higher than the company’s original estimate of $87 million.
Samsung Gains After Court Rejects Arrest Warrant for Vice Chairman Lee
Samsung shares rose firmly after a South Korean court rejected an arrest warrant request that would seen the company’s embattled CEO, Jay. Y. Lee, detained on bribery and corruption charges.
Treasury Pick Says Nothing New; Embrace Selloffs: Jim Cramer’s Best Blog
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. This week he blogged on: Click here for information on RealMoney , where you can see all the blogs, including Jim Cramer’s — and reader comments — in real time.
Brexit will damage UK and EU, says Pierre Moscovici
Brexit will not be positive for either Britain or the EU, according to Pierre Moscovici, the European Commissioner for Economic and Financial Affairs. “You cannot have all the advantages of being a member of the club when you are out of the club.
Yen Gains as Dollar Struggles to Hold Yellen Boost: Markets Wrap
The dollar maintained gains after Janet Yellen said the American economy is strong enough to warrant higher interest rates. Japanese stocks climbed the most in two weeks while the yen fluctuated, and oil resumed gains after the biggest drop in more than a week.
Oil Resumes Advance as Report Shows U.S. Crude Stockpiles Drop
Oil resumed gains after the biggest drop in more than a week as industry data showed U.S. crude stockpiles declined, while OPEC and other producing nations trim production to ease a global glut. Futures rose as much as 1 percent in New York after sliding 2.7 percent on Wednesday amid a surge in the dollar.
Lloyds Said to Pick Frankfurt for EU Subsidiary Following Brexit
Lloyds Banking Group Plc, Britain’s largest mortgage lender, is set to pick Frankfurt as its base to maintain access to the European Union’s single market following Brexit, according to a person with knowledge of the matter. The U.K. bank will choose to convert its German branch into a subsidiary and plans to apply for an extension to its banking license, said the person, who asked not to be identified because the details aren’t public.
South Korea Court Rejects Arrest of Samsung Heir Jay Y. Lee
A court in South Korea turned down prosecutors’ request to arrest Samsung Group’s Jay Y. Lee on alleged bribery, perjury and embezzlement, letting him stay in place atop the country’s most powerful company while they continue their investigation. The court said there wasn’t enough evidence to keep Lee in jail based on the facts presented about alleged payments and other charges.
OPEC Seeks to Quiet Doubts on Supply Cuts as Rally Falters
When OPEC and Russia meet this weekend to gauge progress on their oil-supply deal, they’ll be trying to dispel the shadow of previous unfulfilled promises. Oil prices rose 20 percent in the month after OPEC agreed to cut output, reaching $54.06 a barrel in New York on Dec. 28. Since then, they’ve slipped almost 5 percent as traders, with one eye on rising U.S. shale production, await proof that OPEC and other producers will live up to their deal.
SBI Head Lays Out Deposit Puzzle Faced by India’s Biggest Lender
Analysts scratching their heads over the impact on India’s banks of the country’s move to ban high-value notes have every right to be puzzled, as estimates offered by the chairman of State Bank of India indicate. The bank could retain anything from 15 percent to 40 percent of the deposit boost it received after the government withdrew about four-fifths of the banknotes in circulation in November, Arundhati Bhattacharya said in an interview Wednesday with Bloomberg Television’s Erik Schatzker.