Lately there have been many comparisons of the market to that of 1987, so I thought it might be instructive to go back and look at that time period. To begin with, let’s talk about 1986.
Day: March 1, 2017
5 Stocks Insiders Love Right Now: GNC, AXP, AVP, ASPS, SM
Insiders at GNC Holdings, American Express and three other companies have been scooping up shares of their own stock lately. Corporate insiders sell their own companies’ stock for a number of reasons.
Can Abercrombie & Fitch Fashion a Turnaround?
Abercrombie & Fitch needs to stop skidding. In the last 52-week period, shares of the teen retailer are down a staggering 60%.
10 Crazy Facts About The Warldorf-Astoria
The Waldorf Astoria, with its iconic gilded towers framing Park Avenue, is closing its doors today. Hilton Worldwide sold the illustrious hotel to China’s Anbang Insurance Group to the tune of $1.95 billion in 2014, and now it’s finally time to say goodbye to the historic landmark as we know it.
In Bid To Spur Growth of VR Market, Oculus Drops Price of Rift By $200
The consumer VR industry is currently in a bit of a chicken-and-egg loop, with most hardware makers seeing modest sales, in part because there’s not enough great VR content available-which of course is due to the fact that many developers are wary of building content for platforms that aren’t yet fully mainstream. Still, the market for VR hardware is expected to hit $3.6 billion this year, and $37.7 billion for hardware and software by 2020 .
Foursquare Wants To Supercharge Your Favorite Apps With Contextual Location Smarts
For such a well-informed companion, your smartphone is remarkably good at playing dumb. Sure, it can quickly clue you in on world events with anxiety-inducing headlines and notify you of new social media followers, but these types of insights don’t even begin to tap into your phone’s extensive knowledge.
Twitter users can finally filter out ‘egg’ accounts from their…
It’s finally possible to filter out accounts with the default “egg” profile picture, so that they don’t appear in your notifications. It’s finally possible to filter out accounts with the default “egg” profile picture, so that they don’t appear in your notifications.
50-year-old North Dakota power plant closes
The Minnesota-based company said in July it would shutter the plant rather than move forward with expensive upgrades. Last week, the plant’s control panel and power was disconnected from the power grid for the final time, the Bismarck Tribune reported.
Chuck Schumer Seeks FCC Waiver To Unscramble, Trace Origin Of Bomb Threats To Jewish Centers
After a disturbing rash of anti-Semitic acts, which includes Jewish cemeteries being vandalized and bomb threats called in to Jewish community centers, Senate Minority Leader Chuck Schumer asked the Federal Communications Commission for a waiver that would allow authorities to unscramble anonymous phone numbers that are being used to call in threats. Schumer’s letter specifically referred to a series of bomb threats that were made on Feb. 27 to 11 JCCs, several of them in or near New York.
YouTube looks to cash in on streaming with new service | FCC wona t…
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U.S. Firms Say Job Market Tight, Generally Upbeat on Economy: Fed
The U.S. economy expanded at a modest-to-moderate pace from early January through mid-February, the Federal Reserve said on Wednesday, although firms were less optimistic amid some uncertainty about the Trump administration’s fiscal policies. “Businesses were generally optimistic about the near-term outlook but to a somewhat lesser degree than in the prior report,” the U.S. central bank said in its Beige Book survey on the economy, which was collated from anecdotal evidence provided by business contacts across the country.
Island firefighters now tuned in
The nightmare of faulty communications between dispatchers in Southold and firefighters on Shelter Island is one step closer to a resolution. There’s still considerable work to be done, according to Shelter Island Fire Commissioner Larry Lechmanski.
Daily Dividend Report: BBY, ROST, TMK, KRC, MO, DVN
Best Buy today announced that its Board of Directors approved a plan to return excess capital to shareholders as follows. A 21% increase in the regular quarterly dividend to $0.34 per share, effective immediately.
Bayer Sells $1.5 Billion in Covestro Stock to Trim Debt
Bayer AG sold 1.46 billion euros worth of shares in plastics maker Covestro AG to gain financial leeway as it seeks clearance for its $66 billion takeover of agriculture giant Monsanto Co. Bayer sold 22 million shares for 66.50 euros each, paring its stake in its former division to 53.3 percent, the German conglomerate said in a statement on Wednesday.
Square Buys OrderAhead to Grab Pickup Business at Restaurants
Square Inc. said it acquired startup OrderAhead’s dining pickup website and app that allow people to place take-out orders and skip the line at restaurants. The deal gives the payments processor access to more diners and eating establishments for its Caviar food-delivery service, which Wednesday announced its own restaurant pickup program.
PepsiCo Looking to Close U.K. Factory, Threatening Almost 400 Jobs
Snack and beverage maker PepsiCo is considering closing its Walkers Crisp factory in northern England, Reuters reports, threatening 380 jobs. “The changes we are proposing present significant productivity and efficiency savings crucial for ensuring the long-term sustainable growth of our business in the U.K.,” PepsiCo U.K. manufacturing director Tracey Foster told Reuters.
Ford Has Larger Than Expected Decline in February Auto Sales
Ford’s U.S. auto sales were down 4% vs. estimates of a 3.4% decline, during the month of February. Overall Ford sales totaled 208,440 vehicles in February, representing a 4% decline vs. a year ago.
Biotech Premarket Movers: Impax, Clearside Biomedical, Mylan
Shares of Impax Laboratories were down 19% to $11.50 in premarket trading on Wednesday after the company reported results and said it is not issuing 2017 guidance for total revenue and EPS because of ongoing revenue volatility in its generics unit. The Fort Washington, Pa.-based firm reported fourth-quarter adjusted earnings per share of 16 cents on revenue of $198.4 million.
Wells Fargo Suspends Bonuses for 8 Execs, Including CEO, CFO
Wells Fargo is suspending the the cash bonuses of eight senior executives, including the CEO and CFO, as part of the company’s ongoing independent investigation into the fraudulent accounts scandal that rocked the company last year. Additionally, the share equity awards they received in 2014 that vested this year will be reduced by up to 50%.
Twitter to Introduce Anti-Harassment Measures Beginning Today
Twitter users now have the ability to mute specific words, and usernames from their timelines for the duration of a day, week or month. In an attempt to clean up some of the hate speech which has marred the social media site Twitter , the company will allow users to block specific accounts or words from their timelines starting today.
Apple iPhone 8 Could Cost $1000
Apple’s highly anticipated 10th anniversary iPhone 8 could have a starting price of $1,000, according to a research note from Ming-Chi Kuo, an analyst renowned Apple rumor site 9 to 5 Mac called the “most accurate Apple analyst in the world.” The new iPhone is expected to feature more screen space, an energy efficient high-resolution OLED screen, and wireless charging capabilities.
Tribune Media, Time Jump on Reports of Potential Deals
Mergers among media companies, much anticipated for at least three years, may be finally unfolding as WGN owner Tribune Media and magazine publisher Time talk to potential acquirers. Shares of Tribune Media and Time were surging on Wednesday before the market open amid reports that the companies, two of the country’s oldest media operators, may be close to sales.
U.K. FTSE 100 Hits All-Time High as Dollar Strength, Trump Speech Boosts Stocks
Britain’s benchmark FTSE 100 index hit a record high Wednesday as bank stocks gained on renewed speculation of a March rate increase from the U.S. Federal reserve. Britain’s benchmark FTSE 100 index hit a record high Wednesday as bank stocks gained on renewed speculation of a March rate increase from the U.S. Federal reserve.
Cheery Fourth-Quarter Results Lead to Stock Bounce for Dollar Tree
Shares of Dollar Tree climbed 4.66% to $80.25 in pre-market trading on Wednesday after the discount chain reported better-than-expected earnings and revenue for the fourth quarter. The Chesapeake, Va.-based retailer posted earnings of $1.36 per share, surpassing analysts’ estimates of $1.31 per share.
Hershey, With Scant Global Traction, to Cut 15% of Workforce
Hershey lags so far behind its international competitors, that it was no surprise when it announced Tuesday it would slash 15% of its workforce, mostly outside the U.S., to amp up profitability. Internationally, the Hershey, Pa.-based chocolate maker has been losing market share to such rivals as Mondelez , owner of Cadbury confectionery, and privately held Ferrero and Nestle .
A Good Thing Happens When Doctors Start Talking to Their Patients
Visiting the doctor can sometimes feel like being slammed down on an assembly line: Make co-pay. Check vitals.
Former FCC Legislative Affairs Deputy Director Sean Conway Joins Wilkinson Barker Knauer
Sean brings over six years of communications regulatory experience, both in private practice and in various roles at the Federal Communications Commission . Sean began serving at the FCC as Attorney Advisor in the Wireline Competition Bureau, where he was one of the lead drafters in a rulemaking proceeding to modernize the E-rate program.
New FCC chairman: Net neutrality rules were a ‘mistake’
The U.S. Federal Communications Commission’s net neutrality rules, passed two years ago, were a “mistake” that caused uncertainty for the broadband industry, the agency’s new chairman said. The net neutrality rules, along with the FCC’s decision to reclassify broadband as a regulated common carrier, “deviated” from the U.S. government’s longstanding light-touch regulatory approach toward the internet, FCC Chairman Ajit Pai said Tuesday at the Mobile World Congress in Barcelona.
Kane County News Briefs
Benet Academy players celebrate their 59-48 victory over Plainfield East at the Class 4A East Aurora sectional last week. The City of Aurora has taken major steps to improve and expand its emergency warning system to cover the entire community.
People on the move 03/02
Submit professional appointments, management-level promotions and significant awards for individuals , along with photos as a .jpg attachment, via email to peopleonmove@orlandosentinel.com . Nyma Whitmire , community volunteer, was appointed to serve a three-year term on The Albin Polasek Museum & Sculpture Gardens board of directors.
Democrats should get on board with repeal of FCC privacy rules
Is the broadband privacy sky falling? You’d think so if you listen to the apocalyptic tech press or Massachusetts Sen. Ed Markey Democrats should get on board with repeal of FCC privacy rules Senate Dems hit FCC chairman on consumer data risks Dems rip Trump administration for revoking Obama’s transgender directive MORE They claim that Republican Federal Communications Commission Chairman Ajit Pai is about to leave consumers totally unprotected from broadband providers who might use information gathered about them. A press call yesterday put out a flurry of mixed metaphors: Republicans want a “black hole” or an “unregulated Wild West” for broadband privacy.
Wall St Set to Resume Record Rally Amid Rate Hike Talk
President Donald Trump addresses a joint session of Congress on Capitol Hill in Washington, Tuesday, Feb. 28, 2017, as Vice President Mike Pence and House Speaker Paul Ryan of Wis., listen. , with 56,511 contracts changing hands.
Unilever Set to Change Compensation Structure to Instil Owner’s Mindset
Unilever has proposed to change the way executives and directors are paid in a bid to make them act more like owners of the business. Unilever has proposed to change the way executives and directors are paid in a bid to make them act more like owners of the business.
European Stocks Gain as Banks Surge on Fed Rate Hike Speculation
European markets rose firmly higher Tuesday as bank surged on increased speculation of a March rate hike from the Federal Reserve. European markets rose firmly higher Tuesday as bank stocks surged on increased speculation of a March rate hike from the U.S. Federal Reserve and industrial stocks gained on bets that President Donald Trump will find support for his $1 trillion in infrastructure spending plans.
U.K. Regulator Seeks Better Disclosure From Companies in IPO Process
Britain’s financial watchdog wants to see an improvement in disclosures made by companies seeking to float on London’s stock markets and has put forward a series of proposals for consultation. Britain’s Financial Conduct Authority said Wednesday that it wants to see an improvement in disclosures made by companies seeking to float on London’s stock markets and has put forward a series of proposals for consultation.
Vice Strikes Mobile Deals With Major Carriers in Asia Pacific
Vice Media, the subject of IPO rumors, announced a series of deals on Wednesday with mobile carriers including Vodafone, DoCoMo and Indonesia’s XL Axiata. Vice Media , the youth-focused digital and TV company that counts Disney as its largest investor, is expanding its operations into Asia, the Middle East and Canada.
Man Group’s Shares Fall Most in 8 Months on Profit Decline
Man Group Plc, the world’s largest publicly traded hedge fund firm, said adjusted pretax profit fell 49 percent in 2016 on lower performance fees. The shares declined the most in eight months.
European Stocks Bounce on Earnings
European shares gained on Wednesday, with results driving specific stock moves, while basic resources were the top sector performers after U.S. President Donald Trump pledged $1 trillion of infrastructure spending in his first speech to Congress. The pan-European STOXX 600 index rose 0.7 percent, with Germany’s DAX and France’s CAC 40 outperforming peers, gaining 1 percent.
One Startup Builds $1 Billion Business Out of 15-Cent Bike Rides
Walk around the streets of Beijing these days and the sidewalks are thronged with yellow and orange bicycles. These are the weapons of choice in one of the strangest, most colorful battles in the technology world.
Man Group Shares Fall Sharply After Profits Fall at Listed Hedge Fund
Man Group shares fell sharply in early London trading after the world’s biggest listed hedge fund reported a steep decline in management fees and overall profits. Man Group plc shares fell sharply in early London trading after the world’s biggest listed hedge fund reported a steep decline in management fees and overall profits.