The dollar still has room to climb, looking particularly strong in the short-term — and this will deliver another hit to emerging markets, currency expert Simon Derrick told CNBC on Thursday. “In the short term, I think the dollar probably would be a stronger rather than a weaker currency,” Derrick, who serves as chief currency […]
Read moreBiotech MiMedx Group said on Thursday it had replaced its chief financial officer and would restate financial statements following an internal investigation into its sales and distribution practices, sending shares more than 25 percent lower. The announcement is the latest sign of trouble at the Marietta, Georgia-based company, which has delayed making previous financial filings […]
Read moreShares of Thor Industries, the largest manufacturer of recreational vehicles (RVs), dropped more than 8.5 percent in the premarket Thursday after the company raised concerns about the steel and aluminum tariffs implemented by the Trump administration. Bob Martin, the company’s CEO, said in a statement Wednesday that while labor costs during the fiscal third quarter […]
Read morePNC Financial is souring on small caps’ record run. In an interview on CNBC’s “Trading Nation,” the firm’s co-chief investment strategist questioned the rally’s sustainability. “We would tend not to chase the small-cap run,” Amanda Agati said Wednesday. “It’s really hard to say ‘back up the truck here, and put new capital to work in […]
Read moreCheck out the companies making headlines before the bell: J.M. Smucker – The food company missed estimates by 25 cents a share, with adjusted quarterly profit of $1.93 per share. Revenue also missed forecasts on weakness in the oils, peanut butter, and baking categories. Smucker also gave a weaker-than-expected full-year forecast. Thor Industries – Thor […]
Read morePressures on AT&T’s entertainment business will impact the company’s profits, according to Jefferies, which downgraded the telecommunications giant on Thursday. “We are downgrading the stock from Buy to Hold largely on concerns related to the entertainment segment as cord shaving and spin downs continue to pressure margins,” analyst John Janedis wrote in a note to […]
Read moreBroadcom shares haven’t acted very well as the rest of the semiconductor space surge, but that may be about to change. While Broadcom has risen a little over 2 percent this year, its gains pale in comparison to that of the SMH, the chip stock-tracking ETF that’s surged over 13 percent in 2018. Boris Schlossberg, […]
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A rally in retail stocks has Wall Street hopeful the industry’s worst days are behind it. One technical analyst says the charts support investors’ optimism. “The retail rally has room to run here, perhaps not every day as has been the case, but for the first time in years you are buying weakness not selling […]
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CNBC’s Jim Cramer said Wednesday that he now sees value in Valeant Pharmaceuticals after its chairman and CEO, Joe Papa, guided the company through its recent challenges. The “Mad Money” host mentioned a note by Barclays analyst Douglas Tsao on Wednesday morning, which said Valeant’s “business has hit an inflection point with its existing business […]
Read moreShares of Delta Air Lines tumbled more than 3 percent on Wednesday after the airline said it expected a surge in fuel prices to eat into its second-quarter profits. Delta expects to earn $1.65 to $1.75 a share in the three months to June 30, down from its forecast in April of $1.80 to $2 […]
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