When Jim Cramer first started trading, a stock’s value was based on two simple factors: the underlying company’s fundamentals and the sector’s performance. But when indexes like the S&P 500 gathered enough power to sway stocks regardless of those factors, everything changed. Now, market sell-offs can happen because of index futures rather than actual fundamentals, […]
Read moreFacebook shares sit on the brink of entering a very exclusive club. The company’s stock on Friday nudged up 1 percent, even as the broader market for tech stocks slipped, to set a new closing high of $172.45. The shares rose for a second straight day after the company reported second-quarter sales, profit and user […]
Read moreShares of online real estate broker Redfin hit the public market on Friday in a $138.5 million IPO. The stock popped 44.7 percent headed on its first trading day. The stock was listed on the Nasdaq under the symbol “RDFN.” The 9.23 million share offering priced at $15 a share, above the expected price range […]
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U.S. equities closed well off session lows on Friday investors shook off a sharp pullback from Amazon.com. The Nasdaq composite ended 0.1 percent lower at 6,374.68 after falling as much as 0.7 percent. The tech heavy-index climbed its lows as Facebook, Netflix and Google-parent Alphabet erased earlier losses. The Dow Jones industrial average closed 33.76 […]
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U.S. oil prices surged toward the key $50-a-barrel level this week, but the rally likely has little gas left in the tank, analysts say. West Texas Intermediate crude futures tacked on about $4 a barrel, or 8.6 percent, this week to $49.71 for their best weekly performance all year. International benchmark Brent crude rose about […]
Read moreExpress Scripts‘ president and CEO Tim Wentworth was peppered with questions about Amazon on its earnings call earlier this week. Wentworth, who runs one of the largest pharmacy benefits management organizations — otherwise known as PBMs — appears to have contemplated this question quite a bit. “So as I think about Amazon and what they […]
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Of all the industry groups that make up the stock market, retail is the most hated based on the amount of money hedge funds and other investors are betting against the stocks. Bespoke Investment Group highlighted “the most hated stocks in the world” in a report published this week analyzing the names being sold short […]
Read moreJapanese tech giant SoftBank has been plowing billions of dollars into tech companies, both public and privately held, in the last year — so much so that one investor has questioned whether SoftBank is fueling a new valuation bubble in tech. Some of these investments are coming from the gigantic SoftBank Vision Fund, which includes […]
Read moreJuly’s jobs report and Apple earnings are the big events for a stock market that suddenly has become a shade less confident. A crack showed up in the tech rally this past week, when the Nasdaq staged a nasty reversal Thursday after breaking to new highs. Technicians say it could be a warning sign for […]
Read moreTwitter has a new business idea: It wants to charge advertisers a monthly fee for the company to handle all of their promoted tweets. That means a business would pay Twitter $99 per month to pick and choose which of its tweets to promote. “This program will do the heavy lifting,” Twitter wrote on its […]
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