Jim Cramer finally revealed the secret to how he picks a stock. One of the easiest ways for the “Mad Money” host to identify the stocks that should be on his radar is to look at the new-high list. These are stocks that hit a new high in trading for the day, especially on days […]
Read moreNow that Citigroup has aced the Federal Reserve’s latest stress test, it needs a strategy. The $188 billion U.S. bank doubled its dividend and boosted its share buyback by $15.6 billion after clearing the exam. Chief Executive Mike Corbat has been understandably laser-focused on returning capital and appeasing watchdogs, objectives that eluded his predecessor and […]
Read moreCarson Block is short Prothena, predicting one of its key drugs will not be effective. Block is chief investment officer of activist investment firm Muddy Waters Capital. He is known for his short selling research, which led to several government fraud investigations and financial restatements. “We are short PRTA. The publicly-available data, in our opinion, […]
Read moreGoldman Sachs on Thursday issued a mea culpa of sorts, releasing a research note explaining how it misread the crude oil market, after the bank significantly lowered its price forecast. In light of the recent downturn in oil prices, the investment bank was forced to revise its forecast for U.S. crude to average $55 per […]
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Bank stocks rose sharply on Thursday after the Federal Reserve cleared capital returns programs for the big banks. The central bank did not object to any of the buybacks or dividend hikes from the 34 banks it reviewed during the second phase of its annual stress test. This is the first time in the seven-year […]
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Pier 1 Imports saw its stock tumble more than 10 percent Thursday morning after the retailer reported a smaller-than-expected loss but revenue that fell short of expectations. Like many other retailers, Pier 1 has been struggling to adapt as more shoppers opt to ring up purchases online in place of shopping at brick-and-mortar locations. Some […]
Read moreCheck out which companies are making headlines before the bell: Walgreens Boots Alliance — Walgreens and Rite Aid have canceled their planned merger. Instead, Walgreens will buy nearly 2,200 Rite Aid stores for $5.18 billion. The deal also cancels a planned sale of some Rite Aid stores to Fred’s. Separately, the two companies both reported […]
Read moreClosely followed trader Art Cashin said Thursday that he is still skeptical about the Federal Reserve raising interest rates again this year. Cashin, in an interview with CNBC, said U.S. economic data doesn’t show him the strength he needs to see and doesn’t help the Fed’s case for additional hikes. Still, the central bank reiterated […]
Read morePrivate equity buyouts have enjoyed the strongest start to a year since before the financial crisis as fund managers have come under intense pressure from investors to deploy some of the record amount of capital they hold. The volume of deals involving private equity firms climbed 29 per cent to $143.7bn in the first half […]
Read moreBernstein told its clients the widely-followed portfolio formula used by retirement funds is obsolete, warning that investors will need to be more active to meet their objectives in the future. The so-called 60/40 rule, emerging during the 1950s, aimed to provide solid returns, diversification and the benefits of lower volatility across market cycles. But the […]
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