To the naked eye, corporate profits are in a state of bliss. To history, the perspective is quite a bit different. Investors have been puzzling over the strange earnings-stocks disconnect this year. With profits at a seven-and-half year high in the first quarter, it would be logical to assume that Wall Street would be roaring […]
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Interest rates have been surging recently, with the benchmark U.S. 10-year Treasury note yield hitting levels not seen in nearly seven years. Certain stocks have track records of strong returns when rates rise. The yield broke above 3.1 percent on Wednesday for the first time since 2011. Investors have been selling Treasurys (prices move inversely […]
Read moreWorld Wrestling Entertainment is talking to other networks about its “Smackdown” television franchise, according to The Hollywood Reporter. “WWE’s Smackdown is being shopped to various networks after NBCUniversal — whose USA Network airs the highly rated pro wrestling matches — declined to re-up its deal,” the report said. “NBCU is said to be focusing on […]
Read moreElectric car company Tesla may require as much as $10 billion in additional capital by 2020 to fund the company’s operations, according to Goldman Sachs. “We believe this level of capital transactions may be funded through multiple avenues, including new bond issuance, convertible notes, and equity,” analyst David Tamberrino wrote in a note to clients […]
Read moreCoca-Cola shares will rise due to its new business turnaround plans, according to one Wall Street firm. Barclays raised its rating to overweight from equal weight for Coca-Cola shares, saying its new product changes will lead to sales growth next year. “KO is executing a thoughtful business transformation that’s among the most comprehensive we’ve seen,” […]
Read morePeris Bosire and Rita Kimani should by all rights have had venture capitalists knocking down their door. Computer science graduates of a top university, they have a growing fintech start-up with a product that could reach 50 million people. Oh, and their idea could help feed the world, or at least a continent. But there […]
Read moreSteve Eisman, the investor whose forecast of the financial crisis was depicted in “The Big Short,” criticized a German bank and digital currencies on CNBC’s “Squawk Box” Thursday. The Neuberger Berman portfolio manager confirmed his fund is short Deutsche Bank. “Deutsche Bank has a very simple problem. It doesn’t make money. That’s a pretty shocking […]
Read moreCheck out the companies making headlines before the bell: Walmart – The retail giant reported adjusted quarterly profit of $1.14 per share, 2 cents share above estimates. Revenue also beat forecasts. US comparable-store sales were up 2.1 percent, beating consensus estimates. Cisco Systems – Cisco reported adjusted quarterly profit of 66 cents per share, a […]
Read moreAfter years of doubtful turnaround efforts at U.S. insurer AIG, earnings may have finally hit bottom and present a possible buying opportunity, according to UBS. “When Brian Duperreault joined the company about a year ago as the new CEO, we were supportive of his strategy to invest in talent and make changes to position AIG […]
Read moreGold is losing its luster. The metal has fallen 5 percent in the last three months as the U.S. dollar has gained ground, in turn depressing gold prices. The commodity hit a fresh 2018 low Wednesday. Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management, told CNBC’s “Trading Nation” that the bottom […]
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