The opioid crisis has major costs for the U.S. economy, including the labor market, David Mericle, senior U.S. economist at Goldman Sachs, said in a Wednesday note. The report is one of the first from a major Wall Street bank focused on the growing epidemic killing more than 90 Americans every day. “The opioid epidemic […]
Read moreL Brands shares fell more than 10 percent Thursday morning after the specialty retailer reported a decline in same-store sales in June. The operator of stores such as Victoria’s Secret and Bath & Body Works said same store sales fell 9 percent last month, worse than the 7 percent decline expected by analysts in a […]
Read moreRetail could be one of the best contrarian plays out there, as long as investors steer clear of the nation’s department stores. Eaton Vance chief equity investment officer Eddie Perkin is making that call. “You have to be careful with the department stores. They’re struggling, and they’ll continue to struggle under the threat of Amazon […]
Read moreWhat a difference a couple of weeks make. After hitting an all-time high in late June, Tesla shares have collapsed 18 percent, if Thursday’s premarket trading level holds, due to mounting concerns about its sales results, competition and the safety of its cars. The electric car maker’s stock fell 3 percent in Thursday premarket trading, […]
Read moreFive stocks in the S&P 500 have risen by more than 50 percent this year: Vertex Pharmaceuticals, Activision Blizzard, Align Technology, CSX and Wynn Resorts. Which one has the best shot at continuing its rally through the rest of the year? Chad Morganlander, portfolio manager at Washington Crossing Advisors, would put his money on shares […]
Read moreQatar Airways Chief Executive Akbar al-Baker said on Thursday the Doha-based carrier would soon start buying shares in American Airlines “depending on the share price.” The state-owned company notified American Airlines last month that it was interested in buying up to 10 percent of its shares. Al-Baker told reporters in Dublin that Qatar Airways would […]
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Like Fed officials on interest rates, strategists are divided when it comes to the bond market’s direction. The 10-year Treasury note yield hit a seven-week high of 2.357 percent on Wednesday ahead of the release of the minutes from the Federal Reserve’s June meeting. It finished the day slightly lower at 2.32 percent. The note’s […]
Read moreA daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY -Stock futures are lower, with tech leading the way down, after Wednesday’s mixed close actually saw tech stocks rebound higher. OIL/ENERGY -U.S. crude prices are up more than 1 percent, but are still at the $45 a barrel […]
Read moreCheck out which companies are making headlines before the bell: Costco — The warehouse retailer posted a better-than-expected 6 percent rise in same-store sales for June. Yum China — The restaurant operator reported in-line profit of 27 cents per share for its second quarter. Revenue was slightly below forecasts, with same-store sales up 3 percent. […]
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In light of the tug-of-war in the crude oil space, where prices have traded between the low $40s and low $50s since March, Jim Cramer used the charts to try to foresee the commodity’s future. “Despite all of the crude bulls out there, and boy, we’ve got way too many of them, the truth is […]
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