A top Wall Street firm predicts Goldman Sachs’ trading woes will continue into next year. UBS lowered its rating for the bank’s shares to neutral from buy, saying it will report earnings below consensus expectations in 2018. “Shares seem to reflect a rebound in revs but we have limited confidence in that. We are downgrading […]
Read moreGoldman Sachs downgraded the Boston Beer Company and Constellation Brands due to sluggish beer sales and shifts in demographic tastes. As it turns out, younger generations are drinking more wine and less beer. “As we explored back in 2014, we expected a cyclical rebound in total alcohol consumption post-recession ,” wrote chief analyst Freda Zhuo […]
Read moreCheck out which companies are making headlines before the bell: WebMD — Private-equity firm KKR is buying the health website operator for $2.8 billion, or $66.50 per share. Hasbro – The toymaker earned an adjusted 52 cents per share for its latest quarter, six cents a share above estimates. Revenue also beat forecasts, as Hasbro […]
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The stock market has been stuck in low gear—in the best possible way. Think about it: Driving in low gear is no good for going fast, but is great for climbing. And when the declines come, staying in low gear makes the descent more controlled and safer. This pretty well captures the way the S&P […]
Read moreWhen Jim Cramer first started out in trading, he didn’t like rules. He believed that either they couldn’t really help, or they would cut his upside and prevent him from making more money. After getting burned too many times, he learned the value of discipline. “The rules protect you against your own bad judgment about […]
Read moreAhead of Google parent company Alphabet‘s quarterly earnings report next week, one trader says he’s watching for the company’s report as a bellwether for technology stocks. “So much of their revenue is based on advertising, and that is so important for the tech industry. So we know that, if ad dollars are flowing to Google, […]
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Traders are betting on even calmer stock markets as the S&P 500 persistently climbs higher. The CBOE Volatility Index (.VIX), known as the best gauge of fear in the market, fell Friday to 9.3, its lowest since December 27, 1993, when the VIX hit a low of 8.89. Market analysts noted the decline in the […]
Read moreThe Federal Reserve’s midweek meeting — coupled with a marquee list of corporate earnings reports — could make the week ahead among the most important of the summer. There are also several key economic reports, with the biggest being second-quarter GDP Friday, now expected at 2.5 percent. The Fed is not expected to take any […]
Read moreAfter the first of the “FANG” quartet surged this week on a strong quarterly earnings report, some strategists are forecasting further upside for another member of the FANG gang reporting next week: Amazon. Netflix handily beat its earnings expectations and membership forecasts when it reported earnings Monday, pushing the stock to all-time highs. Amazon is […]
Read moreMorgan Stanley’s chief U.S. equities strategist, Mike Wilson, said Friday he was feeling “very good” ahead of the upcoming earnings week, noting that strong fundamentals have been carrying the markets throughout the year. “This is what we’ve been waiting for,” Wilson said on CNBC’s “Halftime Report.” “These are the best fundamentals we’ve seen since the […]
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