Dick’s Sporting Goods shares jumped 23 percent at the market’s open Wednesday after it beat first-quarter expectations and hiked its full-year earnings forecast, easing concerns that restrictions it placed on gun purchases would hurt its sales. The retailer reported $60.09 billion in net income, or 59 cents per share, topping analysts polled by Thomson Reuters’ […]
Read moreWalmart has been churning out a lot of ideas behind the scenes. The big box retailer recently published a slew of patent filings that could reshape the shopping experience as we know it. While there’s no guarantee any of these ideas will actually be brought to life, they offer a glimpse into Walmart’s vision for […]
Read moreMore than two-thirds of people around the world work away from the office at least once every week, according to researchers. A study released Tuesday by Luxembourg-based serviced office provider IWG found that 70 percent of professionals work remotely — a phenomenon known as telecommuting — at least one day a week, while 53 percent […]
Read moreInvestors who spread funds among two or more financial advisors to gain diversification or protect against another Bernie Madoff may actually increase their risk of poor returns. That’s according to financial advisors who declare that being faithful to one of their number is part of investing best practices. Convincing clients not to stray is a […]
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After a big sell-off on Wall Street, charts expert Ralph Acampora sees the latest unsuccessful rally as the possible beginning of a bear market. “Failed rallies are anathema to the stock market,” Acampora, director of technical research at Altaira Capital Partners, told CNBC’s “Futures Now” on Tuesday. To Acampora, the S&P 500 closing below 2,700 […]
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Profitability at parts of AK Steel remains limited, according to Goldman Sachs, despite support from President Donald Trump’s aggressive tariffs on foreign steel. The bank downgraded shares to sell from neutral on Wednesday citing increased competition within its core automotive U.S. business . “AK Steel shares are now trading below their level from early November […]
Read moreInterest rates are rising. Sell your REITs! That’s the usual knee-jerk reaction of investors when the economic cycle is getting old and the Federal Reserve Bank is raising interest rates. True to form, real estate investment trusts were clobbered in February after the Fed hiked short-term rates again and the 10-year Treasury bond yield spiked […]
Read moreU.S. economic growth slowed slightly more than initially thought in the first quarter amid downward revisions to inventory investment and consumer spending, but income tax cuts are likely to boost activity this year. Gross domestic product increased at a 2.2 percent annual rate, the Commerce Department said in its second estimate of first-quarter GDP on […]
Read moreThe optimism over Apple’s services opportunity is overblown, according to one Wall Street firm. Maxim Group lowered its rating to hold from buy for Apple shares, predicting the company’s subscription businesses will disappoint investors. “Prior survey data indicates attach rates for [Apple’s] subscription services will be at best 30%, likely lower given ecosystem centric approach, […]
Read moreNobel Prize-winning economist Robert Shiller hasn’t been the most optimistic voice on Wall Street, but he isn’t writing off the bull market. His chief reason: President Donald Trump‘s pro-business influence. “There is a sort of optimism about the markets under Trump, and that’s continuing. I don’t see a reason for it about to change,” the […]
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