Shares in Samsonite fell to a 9-month low on Thursday after a short seller issued a report saying the world’s largest luggage maker had questionable accounting practices and poor corporate governance. Blue Orca Capital said the owner of the Tumi brand had concealed slowing growth through debt-fuelled acquisitions and had used accounting methods to massage […]
Read moreHousing stocks, among the top performers of 2017, are biting the dust. Homebuilders as a group, measured by the U.S. home construction ETF ITB, has sunk over 12 percent this year; that places the group on pace for its worst year since 2008, when it lost 44 percent, and its first negative year since 2011. […]
Read moreUBS shared with its clients the firm’s best current stock picks. In addition to screening for factors like the potential for gains over the price targets, sector weightings and liquidity, the list focuses on “stocks where we believe our analysts have a truly differentiated view versus consensus,” the firm’s research group said in a report […]
Read moreGoldman Sachs is cautioning its clients computerized trading may exacerbate the volatility of the next big market selloff. “One theory that has been proposed for why market fragility could be higher today is that because HFTs [high-frequency trading] supply liquidity without taking into account fundamental information, they are forced to withdraw liquidity during periods of […]
Read moreOil prices still have room to run after rallying to 3½-year highs, drilling pioneer Harold Hamm said Wednesday. The Continental Resources chairman and CEO said benchmark U.S. crude prices could still rise by about $10 from current levels near $72 a barrel. “We’re not looking at $100 oil in the future, or probably $90 oil, […]
Read moreThe Federal Reserve will release minutes Wednesday of its meeting in early May that did not see an interest rate increase but apparently did feature some important in-depth discussion about the future of monetary policy. That may not sound very exciting on the surface, but market participants will be poring through the Federal Open Market […]
Read moreNordstrom’s recent earnings sell-off presents a compelling buying opportunity, according to Deutsche Bank, which upgraded the stock to a buy rating and called the drop in share price “overdone.” “We believe Nordstrom has the best developed digital strategy within our department store coverage, with 29 percent of sales now digitally enabled,” analyst Paul Trussell wrote […]
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After Micron Technology‘s explosive start to the year, investors may be wondering whether the semiconductor company has any more energy in its rally. The charts suggest it does, according to one market watcher. “It could still have some more upside,” Matt Maley, equity strategist at Miller Tabak, said on CNBC’s “Trading Nation” on Tuesday. “We […]
Read moreCheck out the companies making headlines before the bell: Lowe’s – The home improvement retailer missed estimates by 3 cents a share, with quarterly earnings of $1.19 per share. Revenue missed forecasts, as well, and same-store sales were up 0.6 percent compared to the consensus Thomson Reuters estimate of a 3.1 percent increase. Lowe’s said […]
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Streaming giant Netflix is on its way to making new highs, but it needs to crack one key level first, according to TradingAnalysis.com founder Todd Gordon. “Netflix is acting very feisty up around this $340 level,” Gordon said Tuesday on CNBC’s “Trading Nation.” He expects the stock to break above that level soon and soar […]
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