Monday’s tech bounce was a relief for investors after a volatile week for the sector, but Carter Worth’s charts suggest that the good news could be short-lived. Despite a modest advance Monday, the tech heavy Nasdaq 100 is down 4 percent from its high last month, and the Cornerstone Macro technician is making the case […]
Read moreShares of Abercrombie & Fitch plunged 21 percent on Monday and dragged down other stocks in the battered retail sector as the U.S. teen apparel maker terminated talks over a potential sale. Investors saw Abercrombie’s failure to sell itself as yet another blow to a retail sector already struggling to cope with changing consumer tastes […]
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Stocks are entering “frothy territory” and could fall soon due to a turnaround in monetary policy, a Deutsche Bank economist said Monday, citing analysis that is used by some of the more notable names in finance. “We believe the equity market in developed countries begins to show symptoms of ‘froth,'” Mikihiro Matsuoka, chief economist at […]
Read moreBig tech stocks have already enjoyed sharp gains this year and Goldman Sachs says there are more to come this earnings season. Consumer discretionary and energy are a different story, however. In a note Friday, David Kostin, Goldman’s chief U.S. equity strategist, said he expects margins for large-cap tech stocks to remain stable this year […]
Read moreDelivery service companies UPS and FedEx could be bigger winners from Amazon‘s Prime Day, CNBC’s Jim Cramer said Monday. “If it’s really that great … just play them,” Cramer said on “Squawk on the Street.” Cramer spoke before Amazon’s third annual Prime Day begins Monday evening. The e-commerce giant launched the discounting event on July […]
Read moreCostco shares were downgraded by BMO Capital Markets even after the company posted strong June sales figures last week, because the analyst believes the wholesale club’s results don’t matter in light of Amazon’s growing grocery enterprise. “Despite our continued belief that Costco’s fundamental outlook remains strong,” wrote BMO analyst Kelly Bania in Monday’s report, “the […]
Read moreActivist investor Dan Loeb is keeping up pressure on Nestle by sharing views with the company as part of a regular dialogue, a source familiar with the matter told Reuters. Loeb’s Third Point hedge fund revealed a $3.5 billion stake in Nestle on June 25, making it the eighth-largest shareholder, urging the world’s largest packaged […]
Read moreA daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY -Stock futures are mixed after Friday’s rally. We get May consumer credit data this morning. -Investors have pulled almost $27 billion out of Goldman Sachs mutual funds so far this year. OIL/ENERGY -U.S. crude oil prices are down […]
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For Jim Cramer, Friday’s unexpectedly strong jobs report numbers validated the strength of the high-flying stock market. “Employment growth means money to buy a car or to buy a house, hence why the housing stocks roared today [to] new highs. Do I really need to explain how hiring helps the banks and techs and the […]
Read moreCybersecurity stocks like FireEye, Barracuda, Symantec and Palo Alto Networks rallied Friday, as snack food and beverage giant Mondelez International became the latest victim of a cyber attack. The company said it was hit with an attack on June 27 that compromised its ability to ship and send invoices during the last four days of […]
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