Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington, Tuesday, Feb. 14, 2017, before the Senate Banking Committee. Federal Reserve chair Janet Yellen said a March rate hike would be “appropriate” if the economy continues to evolve as expected, adding strength to recent speculation that the central bank will raise its benchmark interest rate at its upcoming March meeting.
Trump: Investigate Sen. Schumer Over Photo With Putin
President Trump is responding to calls for an investigation into his Attorney General over concerns that he is too close to Russia. President Trump tweeted that an immediate investigation should be launched into Sen. Chuck Schumer’s ties with Russia due to a photo featuring Schumer and Vladmir Putin.
Kelcy Warren’s Investment, California Cancer Treatment Center, Files for Chapter 11
California Proton Treatment Center LLC, the developer of the Scripps Proton Therapy Center in San Diego, filed for Chapter 11 on Wednesday, March 1, and intends to sell the cancer treatment facility. The Scripps facility is the third of its kind to enter Chapter 11 since 2015; all of them have received backing from Advanced Particle Therapy LLC .
Petrobras’ Houston Refinery Sued Over Pollution Concerns
A Houston area refinery owned by Brazilian energy company Petrobras was sued by two Texas environmental groups claiming repeated pollution violations. The Clean Air Act allows civilians to sue through federal courts in order to enforce pollution rules.
Fed’s Fischer Declines to Comment on Rate Hike
Federal Reserve Vice Chair Stanley Fischer declined to comment directly on monetary policy during a speech at the U.S. Monetary Policy Forum in Chicago. Fischer argued against binding the central bank to strict rules to control monetary policy.
GoPro Stock Falls on Bearish Citi Coverage
Shares of GoPro were down more than 2% Friday afternoon after analysts at Citi Research initiated coverage of the stock with a “sell” rating, predicting that the company will continue to lose money over the next two years. “In the absence of significant topline growth, the company has started to focus on operating expense control, but breakeven remains at least 2 years out, in our view,” analyst Stanley Kovler wrote.
PSA Group Approves Opel Acqusition From GM
The board of directors of the French-based manufacturer of automobiles PSA Group has approved the plan to acquire the Opel from General Motors in a deal expected to be announced Monday, according to Reuters .
Activist Investor Wins Control of Immunomedics Board Following Shareholder Vote
The newly reconstituted Immunomedics board is likely to start a search for a new CEO and could either renegotiate the IMMU-132 deal with Seattle Genetics or cancel it. Immunomedics shareholders elected Friday to install an activist slate of four new directors, bringing to a close a protracted fight for control of the biotech company.
Paris Bucks Trend as European Stocks See Red Ahead of Yellen Speech
Paris was buoyed by the shifting winds of French politics, but other benchmarks slumped ahead of the Fed chief’s talk. Paris bucked the trend on Friday when the CAC 40 index rose as benchmarks across Europe saw red ahead of a planned speech by Federal Reserve Chair Janet Yellen.
Marvell Shares Rise on Earnings Beat: What Wall Street’s Saying
The chip company beat earnings and revenue estimates and issued upbeat guidance, occasioning a round of price target hikes on Friday. Shares of Marvell Technology were advancing on Friday morning after beating on the top and bottom line for the fourth quarter, as well as issuing upbeat guidance for the next quarter.
Idexx Laboratories: Why I’m Avoiding This Puppy
People love their pets — and investors really love Idexx Laboratories . In the latest 12-month period, shares of this animal health diagnostic stock are up a staggering 94%.
This Isn’t an Optical Illusion: You Could Be Looking At the First-Ever Mercedes Luxury Pickup Truck
Somehow, we don’t think the new Mercedes-Benz pickup truck will be carrying bags of concrete to a job-site. Daimler , parent of Mercedes-Benz, said Friday that it will bring its newest concept version of its first pickup truck to the Geneva Motor Show on March 7. The auto on display will be a luxury midsize model, and would mark the first true luxury pickup truck on the market.
4 Small-Cap Biotech Stars
It has been a nice little run for the previously beaten down biotech/biopharma sectors so far in 2017. February saw the main biotech indices rise some 10%, in one of their best monthly performances over the past few years.
What Does Mr. Market Know? Not Much
Barron’s ran a story last week asking what recent stock price action was telling traders. Did February’s surge mean the economy was about to take off? Could it have indicated tax reform was certain to come quickly? Were this year’s gains just getting started, or about to reverse? Contrary to what many people think, more often than not “the market” knows absolutely nothing.
‘Snap is the definition of an unseasoned initial public offering ‘
You don’t want to hear this. No one wants to hear this, the longs or the shorts, but you can’t get caught up in valuations on an unseasoned initial public offering — and Snap Yesterday, when the company went public with a $24 billion valuation, I said it would go to $40 billion.
It’s Time To End Net Neutrality
The change in Administration brings fresh thinking to what had become an epicenter of 1934 regulatory thought – the Federal Communications Commission . Under the prior Administration, the FCC was twice chastised by the courts for attempting to impose net neutrality on Internet Service Providers .
What the Oil Market is Saying About ETFs
The United States Oil Fund , which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund , which tracks Brent crude oil futures, are each up just over 1% over the past month and the oil futures could be signaling more gains to come for the commodity.
Wall St Slips Ahead of Yellen’s Speech
The S&P 500 and the Dow were set for their first back-to-back losses since late-January on Friday, as investors preferred to wait and watch Federal Reserve Chair Janet Yellen’s speech for a steer on the chances of an interest rate hike this month. Yellen could support a rising sentiment among policymakers for an increase in rates amid data pointing to an improving U.S. economy.
Police Body Cameras Will Do More Than Just Record You
It was a cool autumn evening in Paris in 2015, and a number of executives from the police supplier Taser International were enjoying dinner at a cafe when the shooting began. They took cover, and in the havoc, soon learned that some 150 yards away, armed men were laying siege to the Bataclan concert hall-part of a series of attacks that would turn out to be the deadliest in France since World War II.
Africa’s Top Hedge Fund Starts Food-Focused Private-Equity
Polar Star Management Ltd., which runs one of the best-performing African and Middle East hedge fund over the past five years, plans to start a private-equity unit that will invest in agriculture to exploit rising demand for food. The Cape Town-based firm plans to use its own money to buy small farms and processing companies in South Africa this year, then increase efficiency through consolidation and better management, said Murray Derksen, a director at Polar Star.
Uber Loses Court Bid to Block English Test for Drivers
Uber Technologies Inc. lost a ruling over London transport rules that require language tests for drivers, which could keep 40,000 people from joining the industry over the next three years. Judge John Mitting ruled in favor of Transport for London Friday, saying that it is reasonable for “drivers to demonstrate a level of competence in written and spoken English.”
Geely Chairman Says He Plans to Abandon Bid for Lotus Owner
Billionaire Li Shufu said he’s planning to pull Zhejiang Geely Holding Group Co. out of a bid for Proton Holdings Bhd., saying the Malaysian carmaker keeps changing its plans.
Commerce Secretary Ross: U.S. Will Take Proactive View on Trade
Commerce Secretary Wilbur Ross will take a proactive view on trade and ensure that the U.S. is the recipient of good trade deals on the international stage, he told CNBC Friday morning. Ross promoted both employment and exports as his primary focus.
Analysts’ Actions — Dr. Pepper, Expedia, GoPro, Nutanix and More
Here are Friday’s top research calls, including upgrades for Dr. Pepper Snapple and Expedia, a downgrade for Nutanix and new coverage of GoPro. Broadcom was upgraded to buy at TheStreet Ratings.
Apple Scouts Original Film, TV Deals
Top Apple AAPL executives have contacted some of Hollywood’s most successful TV and film producers in the last couple of weeks about going to work for the tech giant, the New York Pos t reports.
Pandora Postpones Director Nomination Deadline As Corvex Hovers
The postponed deadline suggests that the Carl Icahn Protg Keith Meister is seriously considering a proxy contest to push for a possible sale of the web-radio streaming company. Pandora Media Inc. late Thursday postponed the deadline for dissident director nominations, suggesting that Carl Icahn protege Keith Meister is seriously considering a proxy contest to push for a possible sale of the web-radio streaming company.
Caterpillar CEO Umpleby Apologizes Following Thursday’s Raids
Caterpillar CEO Jim Umpleby reiterated that Catepillar remains an ‘honorable company’ in a memo to employees following raids by federal authorities. Caterpillar CEO Jim Umpleby has apologized to the company’s employees for raids that took place on Thursday by federal authorities at the company’s Illinois facilities, including its headquarters in Peoria.
UK Culture Secretary to Voice Concerns About Fox, Sky Deal
UK Secretary of State for Culture, Media and Sport Karen Bradley will seek further evidence from Rupert Murdoch that 21st Century Fox is fit to take over Sky. The UK Secretary of State for Culture, Media, and Sport Karen Bradley will publish a letter noting her concerns regarding the pending takeover of Sky by 21st Century Fox on Friday, according to ITV News .
Fox Fires Starting Gun on Regulatory Review of Sky Takeover Bid
Twenty-First Century Fox took another step toward a takeover of Sky after it set the clock ticking on the regulatory approval process with a formal application to the European Commission. Twenty-First Century Fox took another step toward a takeover of Sky plc Friday after it set the clock ticking on the regulatory approval process with a formal application to the European Commission.
Market Recon: Fed Up With This Crowded Trade
The Fed, always in focus these days, is now front and center in the minds of most market participants. Jerome Powell, who is a governor at the central bank, spoke on CNBC yesterday and will be one of five Fed speakers to orate publicly today.
These Are the Signs of a Healthy Stock Market
It wasn’t an up day for the markets, but it’s great news when a critical IPO goes off without any major problems, says Jim Cramer. Today was a sign of a healthy market, Jim Cramer told his Mad Money viewers Thursday, as the much heralded IPO of Snap went off without a hitch.
Biotech Stock Mailbag: OncoSec Medical and the Quest to Turn Cold Tumors Hot
This week, I will take a closer look at a new approach in cancer immunotherapy from a tiny biotech company — OncoSec Medical . Before I get started, a word or two of caution: OncoSec is a micro-cap biotech company with a single-digit stock price and an enterprise value of just $2.7 million.
Rev’s Forum: The Risk the Fed Will Create a Market Top Is Growing
” After the election we’ve seen very large increases in household and business confidence, we’ve seen very buoyant financial markets — the stock market is up, credit spreads are narrow. And we have the expectation that fiscal policy will probably move in a more stimulative direction.
Next Week’s U.K. Budget Could Jolt the Pound and Bonds
Next Wednesday, all eyes will be on U.K. Chancellor of the Exchequer Philip Hammond, who will present the country’s budget. But investors should not hope for massive fiscal stimulus.
Africa’s favourite brands
In the world of business, so much is caught up in a company’s brand – not just its image, but its reputation and how recognisable it is in the marketplace.
Fox Formally Notifies EU of Sky Bid, Kicking off Regulatory Review Process
The European Commission must decide if it will reduce competition, while the U.K. culture secretary is “minded” to ask for a review of commitments to broadcast standards and the deal’s effect on media plurality. Rupert Murdoch’s 21st Century Fox has formally notified European Union authorities of its 11.7 billion pounds bid for the remaining 61 percent of European pay TV giant Sky, which it doesn’t yet own, kicking off the regulatory review process.
Equity Futures Dip Ahead of Yellen’s Speech
U.S. stock index futures were down for the second straight day since January on Friday, ahead of Federal Reserve Chair Janet Yellen’s speech, which is expected to give further clarity on the possibility of an interest rate hike later this month. Yellen is set to speak at 1:00 p.m. ET at the Executives Club of Chicago.
Yahoo Reveals Details of Breaches
Following an independent committee investigation into a series of major security breaches affecting more than 1 billion user accounts, Yahoo CEO Marissa Mayer will lose out on a cash bonus and an equity award reportedly worth around $14 million. The committee’s findings, outlined in a company filing yesterday with the Securities and Exchange Commission , also prompted the resignation of Yahoo general counsel and secretary Ronald Bell.
China Roils South Korean Stocks With News of Travel Curbs
South Korean stock trading offered a case in point Friday, with a selloff in hotels, cosmetic makers and other tourism-related companies that made the country’s benchmark the worst performer among Asian equity markets. The slide followed a Yonhap news agency report on China ordering travel agents to halt sales of holiday packages to South Korea.
PSA Said to Be Close to Deal to Buy GM’s European Opel Unit
PSA Group is closing in on a deal to acquire General Motors Co.’ s Opel unit to create Europe’s second-largest automaker, with an agreement possibly coming early next week, according to people familiar with the matter.