Anthony Scaramucci is well-known on Wall Street. And Washington. And Singapore. And Davos. And in virtually every other corner of the world where the carefully honed practice of high finance is practiced. So seeing him at a senior-level post in the White House might not come as much of a surprise. To see him running […]
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An activist investor has acquired a stake in Barnes & Noble and is calling on the retailer to consider selling itself in order to unlock more value in the brick-and-mortar book business. “Physical books, and physical bookstores, are not going away anytime soon,” Sandell Asset Management said Tuesday in a letter to the retailer’s board. […]
Read moreCaterpillar‘s quarterly earnings report was the “most serious beat and raise” of the earnings season, and the stock will continue to climb, CNBC’s Jim Cramer said Tuesday. Shares of the construction machinery maker jumped Tuesday after it reported better-than-expected second-quarter earnings before the bell. The stock was nearly 5 percent higher at the open, trading […]
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Citi shares rose 3 percent in opening trade Tuesday as the financial firm began its first investor day since May 2008, just before the financial crisis. “As you know, it has been a while since we have hosted an Investor Day,” Citi CEO Michael Corbat said in prepared remarks Tuesday. “Some people have asked why […]
Read moreUBS said in a note to investors on Tuesday that it’s reiterating its buy rating on Apple with a 12-month price target of $170. The bank believes the upcoming iPhone 8 has the potential for huge sales because of expected upgrades from phones sold in fiscal 2015. Shares of Apple were up 1.4 percent to […]
Read moreCheck out which companies are making headlines before the bell: 3M – The diversified consumer products maker earned an adjusted $2.25 per share for the second quarter, falling short of the $2.54 consensus estimate. Revenue also missed forecasts, although the company did raise its full-year outlook. United Technologies – The maker of Pratt & Whitney […]
Read moreAfter a horrible start to the year for Under Armour shareholders, a top Wall Street firm says there is no turnaround in sight for the sports apparel company. Deutsche Bank lowered its rating for Under Armour shares to sell from neutral, citing the increasing product discounting at retail stores. Under Armour shares fell 2.7 percent […]
Read moreA major Wall Street firm is urging investors to take money out of the U.S. stock market and move it abroad. Stephen Wood, the chief market strategist at Russell Investments, believes the bull run is on borrowed time. He says investors should pull some house chips off the table. “Valuations are being decreasingly supported by […]
Read moreDespite the extended pullback in the crude oil space, Schlumberger’s conference call gave Jim Cramer some renewed hope that things could be looking up for the sector. “First, [CEO Paal Kibsgaard] feels that there’s genuine restraint among Russia and Saudi Arabia, those are the two most important worldwide producers. Second, he explains that in the […]
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Strategist David Rosenberg named demographics the single most important factor for financial analysts and investors to monitor over the next decade. “If it’s all about ‘follow the money,'” wrote Gluskin Sheff’s Rosenberg, “then it is ‘follow the boomers.'” “Nothing is more important than this if you are looking at what will fundamentally influence the financial […]
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