Morgan Stanley revealed its 30 best long-term stock picks on Wednesday, predicting choppy, range-bound equity trading at the index level to come. “We have tried to identify the best franchises, not the most undervalued stocks,” Morgan Stanley’s research group wrote Wednesday. “The main criterion is sustainability — of competitive advantage, business model, pricing power, cost […]
Read moreDon’t call it a comeback. The Cboe Volatility Index, considered Wall Street’s “fear gauge” as a measure of swings expected in the market, has roared back this year after many months of muted moves. The index, commonly referred to as the VIX, surged as high as 50 earlier this year before trading generally between the […]
Read moreDemand for diesel and jet fuel will help push Brent crude oil prices to $90 a barrel in 2020, according to Morgan Stanley. The investment bank previously forecast Brent would average about $65 in each of the four quarters of 2020. Brent hit a three-and-a-half-year high at $79.47 a barrel on Tuesday. It hasn’t risen […]
Read moreSuccessful hedge fund managers should do something unusual if they want to stay that way: Say no to new investors. The bigger a hedge fund gets, the worst it tends to perform, according to a new academic study. Holding other features constant, a 10 percent increase in fund size results in a decrease of 13 […]
Read moreThe Food and Drug Administration says it’s found mistakes in opioid sales data provided by industry researcher Iqvia that led to an overestimation of the amount of prescription fentanyl being used in the U.S. The FDA used that data to make recommendations for quotas to the Drug Enforcement Administration, the agency said Wednesday. In addition, […]
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CNBC’s Jim Cramer on Wednesday praised Macy’s Chairman and CEO Jeffrey Gennette for the shakeup he brought to the department store chain since taking the helm 14 months ago. “He has a feel, he has an eye, he’s a merchant,” Cramer said on “Squawk on the Street.” “The stores have a better look and feel. […]
Read moreA difficult year for 3M shareholders will not get better anytime soon, according to Jefferies. The firm lowered its rating for the industrial company’s shares to hold from buy, predicting its valuation will decline in the latter part of the economic cycle. “We see less room for multiple expansion in a rising rate environment, and […]
Read moreOil prices may continue to rally past 3½-year highs and all the way to $85 a barrel as soon as July, according to Pulitzer Prize-winning author and closely followed energy analyst Dan Yergin. Prices in the oil market have been steadily rising since last year, fueled by strong demand and output caps imposed by major […]
Read moreSmall-cap indexes have been rising in recent years, and many outlooks for 2018 are rosy. Yet indexes aside, greater opportunities this year may await investors who can identify promising small companies laboring in relative obscurity. After negative returns in 2015, small caps delivered in both 2016 and 2017, as the S&P Small Cap 600 Index […]
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Square Cash, the mobile payment app developed by Square, is growing faster than PayPal’s Venmo, according to Nomura Instinet. Since early 2016, Square Cash app downloads have averaged 128 percent year-over-year growth each month versus Venmo’s 74 percent average monthly year-over-year growth, according to Nomura analysis. With roughly 28 million cumulative downloads, the number of […]
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