German meal kit delivery group HelloFresh, a competitor to U.S. firm Blue Apron, announced plans to list on Tuesday in a flotation that could value the company launched by Rocket Internet at up to 1.5 billion euros ($1.8 billion). HelloFresh’s biggest market is the United States where it has been spending heavily on discount offers […]
Read moreCommodities King Dennis Gartman is bearish on crude oil again. Last month, he told CNBC crude oil could hit $55 a barrel. On Monday, he backed away from that notion. “All things being otherwise equal, if things remain as they are right now, crude oil probably wants to continue to trend downward,” he said. “I […]
Read moreAfter struggling through most of 2017, banks stocks are ready to break out, according to a Credit Suisse analysis. “Improved prospects for tax cuts, and more importantly, progress on regulatory reform,” are the main drivers that will see an at least 10 percent return ahead for select stocks, analyst Susan Roth Katzke and others said […]
Read moreGoldman Sachs says stocks of companies with low labor costs are outperforming the overall market, and the strategy could pick up steam as wages rise. In a note to clients on Friday, Goldman said a basket of stocks representing companies with low U.S. labor costs is up 20 percent this year, beating the 15.2 percent […]
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Nobel Prize winner Thaler helps run a fund that’s nearly doubled the S&P since the bull market began
This year’s winner of the Nobel Prize for economics is also an advisor to investment funds with stellar track records. Behavioral economist Richard Thaler is principal at Fuller & Thaler Asset Management, which helps advise a $5.8 billion Undiscovered Managers Behavioral Value Fund. It has almost doubled the S&P 500‘s gains since the beginning of […]
Read moreEconomist Mohamed El-Erian told CNBC on Monday it would take a big surprise to knock the U.S. stock market off its perch. “You need a major shock or a major series of shocks to dislodge this market. This market is not dislodged easily,” the Allianz chief economic advisor said on “Squawk Box.” Citing the potential […]
Read moreJohnson & Johnson’s acquisition of biotech company Actelion as well as more moderate competition from rival companies will reaccelerate top-line growth, according to one Wall Street firm. Wells Fargo raised its rating on J&J Monday, saying that improved performance could lead to better-than-expected third-quarter results and gains in 2018. “With the accretion from Actelion, more […]
Read moreCheck out which companies are making headlines before the bell: General Electric — The industrial conglomerate announcing a number of executive changes. Chief Financial Officer Jeff Bornstein will depart at the end of the year, along with marketing chief Beth Comstock and international executive John Rice. Jamie Miller, who heads GE’s transportation business, will assume […]
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The SPDR S&P Biotech ETF (XBI) has surged 49 percent in 2017 to its highest level in more than two years, but some say the move isn’t over just yet. Erin Gibbs, a portfolio manager with S&P Global, points out that “the average stock in the XBI is trading at 21 percent below its [average] […]
Read moreThe harvest moon has passed. No, it’s not that big orange-like thing that usually passes through the sky in late-fall, but rather the first full moon after the first day of fall. This year, it happened in October (last Thursday to be exact) which is the first time that’s happened in eight years. Usually, it […]
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