Apple, already the world’s largest company by market cap, looks likely to become even bigger. Its recent gains put it on track to hit a never-before-seen target, one technician says. “This is the breakout move that is going to take this stock to be the first $1 trillion market-cap company, in my opinion,” Craig Johnson, […]
Read more
Several casino stocks jumped after aU.S. Supreme Court ruling paved the wayfor states to legalize sports betting if they so choose. Shares of MGM Resorts, Caesars Entertainment, Boyd Gaming, Penn National Gaming and Churchill Downs all popped on the decision, although they were well off their highs immediately following the case result. Scientific Games, an […]
Read moreInstability in exchange rates remains the biggest obstacle toward more widespread cryptocurrency acceptance, St. Louis Fed President James Bullard said Monday. Bitcoin and its growing legion of competitors have been on a highly volatile ride, particularly over the past year and a half or so. At one point in 2017, one bitcoin was going for […]
Read moreUnited Parcel Service will announce a plan to improve its profitability through automation and price increases this year, according to Bank of America Merrill Lynch. The bank raised its rating for UPS shares to buy from neutral, predicting the package delivery company will slash costs. “UPS plans to launch its Network Transformation plan over the […]
Read moreConventional wisdom has it that active equity fund managers have a better chance of beating their benchmarks when things get volatile. That’s probably not the case, however, for active managers in fixed-income markets. “Active bond fund managers have been able to increase their returns [over indexes], by adding credit risk to their portfolios, especially over […]
Read more
Chipotle Mexican Grill’s recovery efforts, including the appointment of a new chief executive and a new delivery partnership, represent steps in the right direction, according to Piper Jaffray. The firm reiterated its overweight rating on the restaurant company’s shares, predicting Chipotle’s stock price could top $530 in 12 months, the highest target on Wall Street […]
Read moreNeuberger Berman portfolio manager Steve Eisman, who predicted the financial crisis, is still finding problematic stocks and investing manias in the financial markets. The investor confirmed his fund is short Canadian financials, Deutsche Bank and Wells Fargo in a Bloomberg Television interview aired on Sunday from the CFA Institute’s annual conference in Hong Kong. “Deutsche […]
Read moreCheck out the companies making headlines before the bell: Xerox – Xerox abandoned its planned $6.1 billion deal with Japan’s Fujifilm, in which Xerox would be combined with the Fuji Xerox joint venture. The move is part of a settlement with major investors Carl Icahn and Darwin Deason, who felt that Xerox was significantly undervalued […]
Read more
The yield curve is flatter than it has ever been since before the financial crisis. If it gets any worse, there’ll be lots of talk of a possible recession, says Craig Johnson, chief market technician at Piper Jaffray. He told CNBC’s “Trading Nation” on Friday why this could be a warning sign for markets. The […]
Read moreSometimes, CNBC’s Jim Cramer finds it useful to compare two completely different companies to find out what works and what doesn’t in a given market environment. So, on Friday, the “Mad Money” host looked into the stocks and businesses of luxury retail play Michael Kors and beer brewer Molson Coors to see which one would […]
Read more