If the market needs something to worry about, the Federal Reserve this week — and indeed for the rest of the year — just might be the catalyst. In fact, a mistake from the Fed might be the only thing investors really fear right now in this, the eighth year of the second-longest bull run […]
Read moreAnalysts once believed an agreement by oil producers to pump less would send crude prices to $60 a barrel in relatively short order. Now, Credit Suisse believes prices won’t even approach that level until 2020. The investment bank on Monday lowered its long-term price forecast for U.S. West Texas Intermediate crude by $5 a barrel, […]
Read moreThe busiest week for earnings kicks off on Monday, and investors are eyeing one group in particular: biotech. The biotech ETF, IBB, is up more than 22 percent this year and just posted its best week in a month. The ETF could continue to rally when the top names in the group report earnings this […]
Read moreBarclays upgraded its rating on Xerox from underweight to neutral on Monday. “We are shedding our long-held concerns over the printing market’s health and also risk of incremental competitive intensity,” wrote Barclays analyst Mark Moskowitz. “In the next 12 months, better market conditions and cost take-outs could help Xerox achieve a series of revenue and […]
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Goldman Sachs warned on Monday that the stock market has an “elevated valuation on almost every metric.” A report written by a team led by chief equity strategist David Kostin stated: “The forward P/E multiple of the S&P 500 has risen by 80% since 2011 (to 18x) and now trades at the 89th percentile compared […]
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The “Trump trade,” which propelled stocks to record highs after President Donald Trump‘s election victory, has been flipped upside down. Jack Ablin, chief investment officer at BMO Private Bank, said in a note Monday that “skeptical investors have reversed between 50-75% of their Trump trades, according to our calculations.” Stocks surged after the election on […]
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BMO Capital Markets upgraded Caterpillar Monday on expectations the company will benefit from a global recovery in construction and a management more focused on profits. “We believe that when an upturn arrives, buyers will still prefer its products,” analyst Joel Tiss said in a note. Caterpillar’s main brand is the maker of construction equipment such […]
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Sporting goods retailer Hibbett Sports issued a profit warning Monday that sent its shares spiraling down more than 25 percent and delivered a blow to some of the company’s peers. Hibbett said it expects its comparable-store sales — a metric closely watched by Wall Street for retail stocks — to fall about 10 percent during […]
Read moreCNBC’s Jim Cramer said Monday he’s not jumping on the bullish train for Blue Apron stock. Blue Apron’s stock surged Monday after three of its underwriters — Goldman Sachs, RBC Capital Markets and Oppenheimer — initiated coverage of the troubled recent IPO with buy ratings. The analysts cited the company’s U.S. leadership in the meal […]
Read moreBlue Apron‘s stock surged 9 percent Monday after three of its underwriters initiated coverage of the troubled recent IPO with buy ratings. Analysts at Goldman Sachs initiated coverage of the meal-delivery kit company’s stock with a buy rating and a price target of $11. RBC Capital Markets and Oppenheimer also initiated their coverage with outperform […]
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