Activision Blizzard is set for an unexpected bump in earnings thanks to its recent sale of city-based professional gaming teams, according to Jefferies research. The entertainment giant sold seven of its 28 city-based Overwatch League teams for a reported $20 million each. That should add $140 million of revenue that analysts haven’t factored into their […]
Read moreThe market has plenty of reasons to keep on rallying, according to closely followed Wharton finance professor Jeremy Siegel. In an interview Wednesday on CNBC’s “Trading Nation,” the perennial bull acknowledged that optimism following the election of President Donald Trump “drove this stock rally last November, December, January.” Yet he’s not as worried as some […]
Read moreCheck out which companies are making headlines before the bell: Delta Air Lines – The airline reported adjusted quarterly profit of $1.64 per share, three cents a share below estimates. Revenue was essentially in line. The key metric of revenue per available seat mile was higher by 2.5 percent for the quarter. Target – The […]
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Stocks continue to have serious upside, according to technical analyst Craig Johnson of Piper Jaffray. The S&P 500 has already risen 9.1 percent this year. And the Dow Jones industrial average, which is up nearly as much, closed Wednesday at a record level. Stocks got a midweek boost thanks to congressional testimony from Federal Reserve […]
Read moreTwo major Wall Street banks think it might be time to take money out of the stock market: Bank of America Merrill Lynch and Credit Suisse. “With central banks heading toward removing liquidity, and both lofty valuations and narrow market breadth in the US, we think investors would be prudent to lock in some gains, […]
Read moreThe bond market’s rally picked up steam when Fed Chair Janet Yellen’s testimony was taken to mean the central bank won’t be hiking rates all that much. The gains started Tuesday with the surprise release of Donald Trump Jr.’s emails on his meeting with a Russian lawyer that suggested the Russian government supported his father’s […]
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The expectation that the White House will enact tariffs on steel imports has options traders bullish in the short-term. “Notably the last time tariffs were placed on imported steel by President Bush in 2002 … stocks responded negatively,” MKM Partners wrote in a note. “Options activity across steel stocks has been universally bullish ahead of […]
Read moreMany retirees discover that saving for their golden years was the easy part. The challenge is making sure their spending rate avoids depleting their nest egg. A growing movement in the mutual fund world is working on solutions for that conundrum. While just a handful of so-called retirement income funds are currently available, financial advisors […]
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It turns out millennials don’t “live to ride” like their parents and grandparents did. Alliance Bernstein downgraded Harley-Davidson to market performance from outperform Wednesday following results from a recent survey that predicts no growth in bike sales as millennials enter HOG’s target demographic. The call is “based on increased conviction that motorcycle demand in the […]
Read moreGary Cohn as Federal Reserve chairman could add 5 percent to the S&P 500, CNBC’s Jim Cramer said Wednesday. “He’s a practical guy, and I think he’s not a theoretical guy. I think he is a guy who understands the labor force better than any of the people I’ve heard describe it,” Cramer said. A […]
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