Month: February 2017

What the Yahoo sale tells us about stock market bubbles

Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events Its data breaches have diminished Yahoo’s market value – to get the full scale of its demise, consider that Yahoo was worth more than $90 billion in 1999. There’s a lot of loose talk these days about U.S. stock prices being so high that we’re looking at a market bubble.

The problem with Donald Trumpa s blame game

Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events While other presidents have played the blame game when coming to office, President Trump has taken it up with unusual rigor and vitriol. Presidents have long liked to play the blame game.

Exxon Mobil Reportedly Resumes Nigerian Layoffs

Exxon Mobil reportedly laid off 89 workers mainly at its Qua Iboe terminal in south-eastern Nigeria, according to an anonymous source. Workers in Nigeria ended a strike at the company’s headquarters in the country in December following the firing of more than 100 employees.

Apple Price Target Raised at Morgan Stanley

Shares of Apple were climbing on Tuesday after Morgan Stanley hiked its price target on the tech titan’s stock to $154 from $150. The firm echoed increased sales optimism in China and that the country could represent “outsized growth” in fiscal 2018.

Secretary Tillerson to Visit Mexico as Homeland Unveils Deportation Plan

Immigration law enforcement agencies have reportedly been directed to quickly identify, capture, and deport every undocumented immigrant they come across. Secretary of State Rex Tillerson and Homeland Security Secretary John Kelly will both visit Mexico this week to discuss securing the border, among other topics, likely to include the strained relations between the U.S. and Mexico.

Verizon Said to Reach Deal for Lowered Yahoo Price After Hacks

Verizon Communications Inc. reached a renegotiated deal for Yahoo! Inc.’s internet properties that will reduce the price of the $4.8 billion agreement by $350 million after the revelation of security breaches at the web company, according to a person familiar with the matter. In addition to the discount, Verizon and the entity that remains of Yahoo after the deal, to be renamed Altaba Inc., will share any ongoing legal responsibilities related to the breaches, said the person, who asked not to be identified discussing private information.

Microsoft Faces European Privacy Probes Over Windows 10

Microsoft Corp. faces a coordinated investigation by European privacy regulators after it failed to do enough to address their concerns about the collection and processing of user data with a series of changes to Windows 10 last month. European Union data-protection officials sent a letter to Microsoft saying they remain “concerned about the level of protection of users’ personal data,” according to a copy of the document posted by the Dutch watchdog Tuesday.

Facebook Messenger Now Lets You Send Money With Transferwise

International money transfer service TransferWise Ltd. has announced an integration with Facebook Inc.’s Messenger that will let people set up foreign exchange transactions over the chat service. London-based TransferWise launched the technology as a bot — a piece of automation software that understands natural language — baked within Messenger.

Fenix Parts posts 2Q profit

Fenix Parts Inc. on Tuesday reported second-quarter net income of $1.4 million, after reporting a loss in the same period a year earlier. This story was generated by Automated Insights using data from Zacks Investment Research .

Verizon Revises Deal With Yahoo!, Sale to Go Forward

Yahoo! shares were climbing slightly premarket following a Wall Street Journal report that Verizon agreed to go forward with its acquisition of the Internet company, though Verizon will cut as much as $350 million off of its original $4.83 billion offer. The revised offer comes after Yahoo! warned of two data breaches last year that potentially affected more than 1 billion user accounts.

European Oil Majors Rise on Record Bets For Further Crude Gains

Europe’s biggest oil company stocks notched solid gains Tuesday as crude prices continued to rise on increased bets that OPEC’s production cut discipline will offset rising U.S. supply signals. Europe’s biggest oil company stocks notched solid gains Tuesday as crude prices continued to rise on increased bets that OPEC’s production cut discipline will offset rising U.S. supply signals.

Walmart Surprisingly Didn’t Have an Ugly Holiday Season

Walmart shares climbed by 2.35% to $71 a share in pre-market trading Tuesday after the retail giant reported strong fourth quarter and full-year results. Fourth quarter earnings came in at $1.30 a share on revenue of $133.6 billion, Analysts had estimated earnings of $1.28 a share on sales of $131.1 billion.

Holiday Inn-Owner IHG Shares Hit Record High After Profit Beat, Dividend Hike

InterContinental Hotels rose to a record high after the Holiday Inn owner reported better-than-expected 2016 profits and boosted its dividend payment amid ongoing pressure from new entrants such as AirBnB. InterContinental Hotels rose to an all-time high Monday after the Holiday Inn owner reported better-than-expected 2016 profits and boosted its dividend payment amid ongoing pressure from new entrants such as AirBnB.

European Stocks Fall as HSBC Leads Financials Lower

European equities slipped in early trading on Tuesday, with HSBC leading the regional banking index lower after reporting a 62 percent slump in its annual pre-tax profit. Europe’s biggest bank dropped 6 percent and was headed for its biggest one-day fall since August 2015 after its results fell far short of analysts’ estimates as it took hefty writedowns from its restructuring.

Pop-Ups Come to Banking as Swedbank Steals a Page From Eateries

Sweden’s biggest mortgage lender plans to open pop-up banks across the country, reversing half a decade of shuttering branches. Swedbank AB, which has cut its network by almost two-thirds since 2011, envisions portable banks setting up virtually anywhere, from university campuses to real estate brokers’ offices to corporate clients’ headquarters.

European Stocks Called Lower, HSBC Earnings in Focus

European stocks are expected to slip modestly at the open of trading Tuesday as investors continue to focus on a mixed earnings season on increasing political uncertainty in the region. European stocks are expected to slip modestly at the open of trading Tuesday, following a solid Asia session, as investors continue to focus on a mixed earnings season on increasing political uncertainty in the region.

China Stocks Approach 3-Month Highs

China stocks extended gains on Tuesday to close at a near three-month high, as expectations for big flows into stock markets from pension funds continued to improve risk appetite. The blue-chip CSI300 index rose 0.3 percent, to 3,482.82 points, while the Shanghai Composite Index added 0.4 percent to 3,253.33 points, its highest close since Dec. 1. “Pension funds will be the biggest source of incremental capital in the near future, and they would surely pick shares of industry bellwethers and consequently boost the blue-chips,” said Tian Weidong, a Xi’an-based analyst with Kaiyuan Securities.

Credit Suisse Bets on Old Continent Amid Breakup Fears

Credit Suisse Group AG is seeing a pickup in its private banking business in Europe as clients come out of hibernation to seek counsel on how to protect their fortunes from shock outcomes of coming national elections. “I would expect Europe to rebound in profitability” for reasons including the political uncertainty, Iqbal Khan, head of international wealth management, said in an interview at the bank’s headquarters in Zurich.

Nikkei Boosted By Weaker Yen

Japanese stocks rose on Tuesday as the weaker yen helped overall sentiment, while the paper sector outperformed on a report that a major producer intends to raise printing paper prices. Trading volumes were low, however, as a holiday in the United States on Monday left investors short of the usual leads.

Asia Shares Consolidate Recent Gains; China Shines

Asian stocks held ground on Tuesday though Chinese equities surged to a fresh 2-1/2 month high as domestic funds piled into financial counters on expectations the world’s second biggest economy may have turned a corner. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2 percent on Tuesday and held below a 19-month peak hit last Thursday.