“How can I contact Silvergate?” a young, dark-haired man in a black hoodie asked frantically at last month’s Consensus conference, a massive gathering in New York City for those interested in bitcoin and its underlying blockchain technology. It was after hours, and Silvergate’s exhibit booth had closed for the day. The man, one of thousands […]
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Apple has been trading sideways since hitting record highs earlier this month. Oppenheimer technician Ari Wald sees three reasons why the next move for the tech leader will be up. First, Apple has managed to break through several key resistance levels, Wald told CNBC’s “Trading Nation” on Tuesday. “The stock’s breakout above March resistance, it […]
Read moreTarget shares will rise as the discount retailer benefits from aging demographics, according to Bank of America Merrill Lynch. The firm reiterated its buy rating for the retailer and added the stock to its US1 top ideas list. “We believe the company should benefit from the discount store cycle … given our view that TGT’s […]
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Concerns over Italy‘s political tug of war could spill into the U.S. stock market by way of a strengthening dollar, B. Riley FBR’s Mark Grant told CNBC on Wednesday. “We’re just at the beginning of the commotion” in Rome, said the veteran strategist, referring to whether Italy might ultimately seek to leave the euro, causing […]
Read moreMajor bank stocks tumbled on Tuesday due to political turmoil in Italy, sparking worries about the prospect of another eurozone crisis. Shares of J.P. Morgan Chase, Bank of America, Morgan Stanley and Citigroup all fell 4 percent or more on Tuesday. But Jefferies believes the decline in financial sector shares is a good buying opportunity […]
Read moreDick’s Sporting Goods shares jumped 23 percent at the market’s open Wednesday after it beat first-quarter expectations and hiked its full-year earnings forecast, easing concerns that restrictions it placed on gun purchases would hurt its sales. The retailer reported $60.09 billion in net income, or 59 cents per share, topping analysts polled by Thomson Reuters’ […]
Read moreInvestors who spread funds among two or more financial advisors to gain diversification or protect against another Bernie Madoff may actually increase their risk of poor returns. That’s according to financial advisors who declare that being faithful to one of their number is part of investing best practices. Convincing clients not to stray is a […]
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After a big sell-off on Wall Street, charts expert Ralph Acampora sees the latest unsuccessful rally as the possible beginning of a bear market. “Failed rallies are anathema to the stock market,” Acampora, director of technical research at Altaira Capital Partners, told CNBC’s “Futures Now” on Tuesday. To Acampora, the S&P 500 closing below 2,700 […]
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Profitability at parts of AK Steel remains limited, according to Goldman Sachs, despite support from President Donald Trump’s aggressive tariffs on foreign steel. The bank downgraded shares to sell from neutral on Wednesday citing increased competition within its core automotive U.S. business . “AK Steel shares are now trading below their level from early November […]
Read moreInterest rates are rising. Sell your REITs! That’s the usual knee-jerk reaction of investors when the economic cycle is getting old and the Federal Reserve Bank is raising interest rates. True to form, real estate investment trusts were clobbered in February after the Fed hiked short-term rates again and the 10-year Treasury bond yield spiked […]
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