It’s not just food safety issues affecting Chipotle now. Rising food costs are increasingly a problem for the restaurant chain’s profitability, says one Wall Street firm. Credit Suisse lowered its price target and reiterated its neutral rating for shares of the burrito restaurant chain, citing risk to future earnings due to higher avocado prices. “We […]
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Hurricane Harvey could barrel into the U.S. Gulf Coast as a Category 3 hurricane, an event that has historically tended to send utilities and insurance stocks lower. Harvey is quickly turning into the worst hurricane to hit the U.S. mainland in more than a decade, and is expected to strengthen from a Category 2 to […]
Read moreGasoline prices surged over the last two days as Hurricane Harvey headed toward the U.S. Gulf Coast refining hub, but analysts warned that the price difference against crude oil could come crashing back down next week. The weather event is pushing up gasoline prices because a number of refineries have shut down. Flooding threatens to […]
Read moreFederal Reserve Chair Janet Yellen has been scrupulously avoiding discussion of specific details on the future of monetary policy, leaving economists to draw inferences from her sentiments about the health of the overall economy. “If you hear Janet Yellen say something like, ‘Well, gee, we really don’t think that lending has grown excessively,’ that’s a […]
Read moreThe threat of a stock market correction may keep the Trump administration and the GOP in Congress focused on getting something done this fall. Strategas Chief Investment Officer Jason DeSena Trennert sees the stock market as the new vigilante, tempering the actions of policymakers much like the bond market behaved in the 1980s and 1990s. […]
Read moreClosely followed trader Art Cashin said Friday that “a sense of frustration will build” in the market if President Donald Trump and Congress can’t get their act together on tax reform. “The fact that they’ve failed on a couple of levels. If it doesn’t look like they’re putting their act together on something like taxes […]
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Trillions of dollars in U.S. corporate profits held abroad are more likely to finally come home with the latest developments out of Washington. White House economic advisor Gary Cohn told the Financial Times that the tax reform plan will include a one-time low repatriation tax rate for corporate profits held overseas. He said the specific […]
Read moreCheck out which companies are making headlines before the bell: Big Lots – The discount retailer reported quarterly profit of 67 cents per share, five cents a share above estimates. Revenue was above forecasts, as well. Big Lots also posted a slightly-better-than-expected comparable-store sales increase of 1.8 percent. Starbucks – Wedbush upgraded the coffee chain’s […]
Read moreThe futures market has “solidly” anticipated the intensifying threat from Hurricane Harvey, commodities king Dennis Gartman told CNBC on Friday. “This is going to be a short-term event,” the Gartman Letter editor and founder said. “Obviously there are going to be repercussions. What has happened, however … it’s put downward pressure on crude oil, which […]
Read moreHedge fund managers have a dim view of the second half of 2017 after a solid start to the year, an industry survey released on Thursday showed. Fundraising, which had picked up during the first six months of 2017, will likely slow and investor sentiment is more negative now than it was a year ago, […]
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