The container shipping industry went from bad to worse in 2016. A combination of tepid global trade growth and low steel prices put downward pressure on both container prices and lease rates, which drove down Textainer Group Holding Limited ‘s revenue and earnings.
Month: January 2017
Silver Standard Resources Inc.’s Best Moves in 2016
But investors shouldn’t look at any one of the moves the silver and gold miner made in 2016 in isolation. In the end, the company’s outlook was enhanced because of the combined effect of the moves.
Pershing Square Pays $75,000 To Settle Pay-to-play Probe
Pershing Square Capital Management reached a $75,000 settlement with the U.S. Securities and Exchange Commission Tuesday regarding a campaign contribution made by a former employee that violated the government’s donation rules. The former employee contributed $500 to a personal friend of a sibling, who tried, unsuccessfully, to enter one of the gubernatorial primaries in Massachusetts.
Passive, Low-Cost ETFs Attract Record Inflows
Exchange traded fund providers are attracting record inflows as more investors look to low-cost, passive index-based products to track market moves. BlackRock Inc., the world’s largest asset manager and largest ETF provider, is experiencing record cash inflows, bringing in $140 billion to its iShares business last year, Bloomberg reports.
Oil Futures Cut Gains At Settlement As EIA Forecasts Rise In Shale Output
Oil futures pared much of their gains in the minutes ahead of Tuesday’s settlement after a report from the Energy Information Administration forecast a rise of 41,000 barrels a day in February oil production from seven major U.S. shale plays. Oil prices had found support earlier after Saudi Arabia’s oil minister on Monday said the oil market would reach a balance between supply and demand in the first half of this year, according to media reports.
How This Apple Inc. Supplier Created Hundreds of Thousands of Jobs in the United States
TSMC is believed to be the sole manufacturer of the Apple-designed A10 applications processor that powers the iPhone 7 and iPhone 7 Plus, and it also builds chips for many chips that Apple procured from third-party suppliers, to boot. My first question is regarding the advisory reports to the U.S. President this Friday, because in a report, the U.S. seems want to ensure their semiconductor leadership, especially in the leading-edge, so what will be TSMC’s strategy to beating this policy direction and ensure your own leadership? Thanks.
Foxx: Private dollars alone can’t solve transportation woes
The outgoing secretary of transportation says stimulating private investment in infrastructure projects, as Donald Trump has proposed, can cover only a fraction of the costs of solving America’s transportation problems. Anthony Foxx tells The Associated Press that “a fair amount of public funding” will still be needed.
Earnings Growth Could Help Sustain U.S. Stock ETF Rally
The S&P 500 is expected to reveal positive earnings growth for the fourth quarter, supporting further strength in U.S. stocks and related exchange traded funds.
Colstrip power plant closure could come earlier than 2022
A partial closure of an aging coal-fired power plant serving customers across the Pacific Northwest could come earlier than planned depending on the actions of its co-owner and Montana lawmakers, according to documents released Tuesday by Washington state regulators. The 2,100-megawatt facility is one of the largest coal-fired plants in the West.
Britain PM Theresa May Sets ‘Hard Brexit’ Course
Britain’s Prime Minister, Theresa May, speaks to the media outside number 10 Downing Street, in central London, Britain July 13, 2016. REUTERS/Peter Nicholls/File Photo Britain will quit the EU single market when it leaves the European Union, Prime Minister Theresa May said on Tuesday in a decisive speech that set a course for a clean break with the world’s largest trading bloc.
Why Shares of Conn’s Dropped 46% in 2016
A combination of slumping comparable-store sales and continued losses in the credit business led to the decline. Conn’s business model revolves around providing financing to its customers.
Looking To Regain Its Reputation, Theranos Appoints Advisory Board Of Biotech Experts
It’s a long-overdue move by the company, whose board was made up of more well-connected VIPs than scientific experts. In an attempt to regain its reputation after months of controversy and layoffs, blood-testing startup Theranos is appointing an advisory board of pharmaceutical and medical device experts to work alongside its scientific advisors.
Lincoln Senator Introduces Bill That Stiffens Trafficking Penalties
As per Federal Communications Commission Regulations following is certified: Platte River Radio Inc. does not discriminate in the sale of commercial time, and will not accept advertising which, in its sole opinion, is purchased with intent to discriminate unlawfully on the basis of race, gender, or ethnicity. The advertiser hereby certifies that its purchase of commercial time is not made for an unlawful discriminatory purpose, including specifically that it is not based upon a decision to place advertising on a station on the basis of race, gender, or ethnicity.
Amid budget crisis, economy on minds of many
But when he was laid off in July from the factory in Santa Fe where he had worked for more than 17 years, McGuiness was thrust back into the job market in New Mexico, where the unemployment rate ranks as the nation’s second highest. Despite having years of experience in chemical compounding, getting a job interview has been a challenge.
Nobody Safe’ If Republicans Undo Net Neutrality, FCC Chair Says
Online companies such as Amazon.com Inc. are vulnerable to unfair competition from internet service providers if the Federal Communications Commission’s open-internet rule is reversed, agency Chairman Tom Wheeler said Tuesday. “Nobody is safe,” Wheeler, a Democrat, said in an interview three days before he leaves office and a Republican administration led by President-elect Donald Trump takes office.
New FDA Chief Should Have Medical Experience, Drugmakers Say
President-elect Donald Trump’s pick to lead the U.S. Food and Drug Administration should have a medical background, and the agency should continue evaluating new medications’ effectiveness, drugmaker executives said in comments indicating opposition to two candidates for the regulator’s top post. Trump’s FDA chief should be a doctor or physician-scientist with experience in clinical care and medical research, said Roger Perlmutter, head of research and development for Merck & Co.
Railroad Profit Rebound Plays Catch-Up to Yearlong Stock Surge
With U.S. railroads forecast to report their first earnings growth since 2015, a stock rally that began in anticipation of the profit rebound is looking overdone. An index of major carriers has jumped more than 55 percent since sinking to a three-year low Jan. 25, more than doubling the S&P 500 Index’s return.
European vegetables: ‘Perfect storm’ raises prices
Bad weather in Italy and Spain is likely to significantly increase the price of vegetables across northern Europe, food suppliers and supermarkets have told the BBC. One supplier said that a combination of flooding, cold weather and poor light levels had created a “perfect storm” of poor growing conditions.
Jim Cramer — Border Tax Issues Boosting Retail, for Now
Retail stocks including Walmart , PVH Corp. , Best Buy , Nike are on the move Tuesday after President-elect Donald Trump said the U.S. dollar is too strong and the proposed Border Adjustment Tax is “too complicated.” What should investors infer? That perhaps the potential import tariffs or other border taxes will be more difficult to institute than previously thought, TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio , said on CNBC’s “Stop Trading” segment.
J.C. Penney Stock Jumps on Nike Partnership
Shares of J.C. Penney were rallying almost 4% in Tuesday morning trading after announcing that it will include Nike shops in more than 600 of its stores. The Plano, Texas-based company will dedicate 500 square feet to Nike products within a “prominent” location of the men’s department, according to a statement by J.C. Penney.
Lawmakers look to Rep. Price to fill in blanks on Obamacare repeal
Congressional Republicans still have a lot of work to do before agreeing on a plan to klll the Affordable Care Act. Georgia congressman Tom Price will get a grilling on Wednesday, Jan. 18, from Republicans and Democrats alike on how President-elect Donald Trump will fill in the blanks over a plan to repeal and replace Obamacare.
Morgan Stanley Is a ‘Very Good Situation’: More Squawk From Jim Cramer
Shares of Morgan Stanley were declining in early morning trading on Tuesday despite reporting a top and bottom line fourth quarter beat before the market open. Furthermore, the NYC-based bank posted its biggest gain in fixed-income trading, as revenue from that unit nearly tripled.
Sterling Surges Most in 8.5 Years as Traders Against ‘Hard Brexit’
The British currency has surged the most since May 2008 after Theresa May pledged to give parliament a vote on any final ‘Brexit deal’. Sterling surged against its major counterparts on foreign exchange markets Tuesday afternoon as traders bet that lawmakers will eventually water down Theresa May’s push for a so called ‘Hard Brexit’.
Jim Cramer — Noble’s $2.7 Billion Purchase Makes Perfect Sense
Noble purchasing Clayton Williams for $2.7 billion is an excellent, strategic move to gain more exposure to the Permian, Cramer said. Shares of Clayton Williams Energy are up 36% Tuesday after it was announced on Monday that Noble Energy would purchase the company for $2.7 billion in cash and stock.
United Airlines Has Tough Act to Follow After Delta’s Unit Revenue Guidance
Earnings from United Airlines, scheduled to be released after the market closes Tuesday, will have to match up with Delta’s results. United Airlines will report earnings Tuesday afternoon amid high expectations for the airline industry but not-quite-so-high expectations for itself.
Salesforce.com CEO Marc Benioff : ‘Expect Us to Look at Anything That’s Exciting’
Salesforce.com hopes to double its annual revenue, despite already being the fastest growing enterprise software company of all time. Cloud computing company Salesforce.com spent about $5 billion on acquisitions in the past year and it will continue to look at any “exciting” opportunities out there, CEO Marc Benioff said on CNBC’s “Squawk Box” on Tuesday morning.
Peugeot Citroen Wobbles on Report of Emission Test Failure
France’s No.2 carmaker joined larger French rival Renault under scrutiny but shares in both rose on the back of a bumper 2016 for European new car sales. PSA Peugeot became the latest European car manufacturer to tremble in the wake of Volkswagen ‘s record fine for cheating emission tests after it was reported that one of its models had failed to meet EU standards and showed anomalies in official testing.
Tractor Supply Looks Ready to Sprout
Shares of Tractor Supply bought the farm in September after the company reported disappointing results. The stock hit a 52-week low in late October and has been bouncing back ever since.
Yum! Brands May Benefit From Bringing Taco Bell Staples to China
The U.S. restaurant company’s Chinese spin-off is introducing the Mexican’s fast-food chain’s Doritos Locos Tacos and Fire Sauce, and the strategy could drive revenue. Yum China Holdings , which was spun off last year from Yum! Brands ‘ , has unveiled plans to bring Taco Bell’s Doritos Locos Tacos and the popular Fire Sauce to China.
Cramer: Rising Deal Tide in the Permian Lifts Oil Boats
Yes, the Permian buys continue to move the needle. It looked like Noble Energy would be hammered when it paid a gigantic premium for Clayton Williams over the weekend; the latter stock is up 37%, but more important, perhaps, is that the stock was at $7 a little less than a year ago and now it is at $143.
The Common Smartphone Could be a Massive New Risk to Investors
As any diligent investor knows, one of the most important considerations in making investment decisions is risk assessment. Understanding the potential risks and how those risks affect future cash flows is critical.
The Bulls Are Back on Randgold Resources
Recent strength in the price of gold, weakness in the U.S. dollar and improved technical signals on GOLD suggest that GOLD and other precious metal miners can rally further. You don’t have to be a confirmed gold bug to participate.
Bearish Arguments Make Early Headway
There are several explanations for the weak action this morning. Breadth isn’t terrible with about 2,300 gainers to decliners but it is slipping.
China’s Xi defends global trade at World Economic Forum in Davos
Chinese President Xi Jinping is the first Chinese leader to attend the World Economic Forum in Davos, Switzerland. Chinese President Xi Jinping on Tuesday trumpeted the need for free trade and urged the world to “say no to protectionism,” delivering a strong rebuke to isolationist tendencies that helped fuel Donald Trump’s presidential election victory.
Scaramucci Clarifies That His SkyBridge Is ?Almost? Sold
Anthony Scaramucci, named as an adviser to U.S. President-elect Donald Trump, said he has “almost” sold his SkyBridge Capital asset-management firm. Scaramucci, 53, clarified a comment he made earlier Tuesday during a presentation at the World Economic Forum in Davos, Switzerland that the firm had been sold today.
TRUMP: The strong dollar is ‘killing us’
The index’s drop follows two comments from President-elect Donald Trump in an interview with The Wall Street Journal . Trump said the border-adjustment plan, a proposal that would tax imports and exempt exports, was “too complicated.”
CMHC to hike mortgage insurance premiums by an average of $5 a month
CMHC is ratcheting up its mortgage insurance premiums starting in March for new applications. Existing policies will see no change.
Oil Prices Jump as Dollar Sags, Saudis Reiterate Commitment to Production Limits
Global oil prices resumed their upward march Tuesday, boosted by a weaker U.S. dollar and a further commitment to OPEC agreed production cuts from Saudi Arabia. Global oil prices resumed their upward march Tuesday, boosted by a weaker U.S. dollar and a further commitment to OPEC agreed production cuts from Saudi Arabia.
Standard Chartered Stock Surges On Big Shipping Industry Bet
Standard Chartered shares surged the most in nine months Tuesday after the emerging market bank announced a big bet on the beleaguered shipping industry. The London-based bank said it closed three trade finance deals totalling $1.6 billion in value during December, providing funding to merchants transporting liquefied natural gas and other types of energy, at a time when banks are pulling back en masse from the shipping industry.
Rio Tinto Beats Q4 Expectations, Reaffirms 2017 Targets
Strong cash flows could lead to significant dividend hikes and share buybacks, underpinning a rally that has lifted shares by a third in the three months. Rio Tinto shares traded firmly lower in London Tuesday despite solid fourth quarter earnings from the world’s biggest seaborne iron ore exporter and a confirmation of its 2017 targets that set the stage for increased dividends and share buybacks.