Amazon (AMZN) is rallying on news the “Amazon Effect” is alive and well. United Natural Foods (UNFI), the food distributor whose largest customer is Amazon’s Whole Foods, said it is “continuing to see record sales and shipping unit volume” and incurred $25 million in additional out-of-stock costs as
Broadcom (AVGO) shares are higher after the chip maker beat on earnings, thanks to sales of smartphone parts, and increased its dividend. This comes as Broadcom is trying to convince shareholders to back its $100 billion takeover of rival Qualcomm (QCOM). Shares of General Electric (GE) are rising
Home Depot (HD) shares are off slightly after the home improvement retailer reaffirmed full-year guidance, detailed a three-year investment strategy and announced plans to bump up its share buyback program to $15 billion. The war of the tech titans escalates, with Google (GOOGL) pulling YouTube access
Shares of Toll Brothers (TOL) are sliding after reporting profits and revenue that missed expectations. The luxury home builder also forecast a decline in gross margins for 2018, in part because the company is targeting millennials with lower priced homes. Toll Brothers stock is still up nearly 50%
Aetna (AET) shares are popping after CVS announced plans to acquire the health insurer for about $69 billion in cash and stock, or about $207 per share. The vertical merger is likely to come under antitrust scrutiny, especially after the administration’s recent moves on the AT&T (T) and Time Warner
Markets (^DJI, ^GSPC, ^IXIC) fell sharply on Friday after ABC reported former national security adviser Michael Flynn will testify that he was directed by Trump to talk to Russians.
Tech stocks — the darlings of the market this year — got hammered yesterday, with the S&P 500’s tech sector (XLK) reporting one of its worst trading days of the year. Will investors buy the tech dip? When tech sold off in June and again in September, investors were ready to pounce.
Regal Entertainment (RGC) shares higher after the theater operator confirmed it’s in talks with its UK peer Cineworld Group for a potential buyout. Autodesk (ADSK) shares are tanking after reporting profits and revenue roughly in line with estimates, but announcing a massive restructuring plan that
The most important chart you need to know today is the yield curve. Over the past year, short-term rates have surged while long-term rates have held steady, sending the yield curve to its flattest levels in a decade. Now Morgan Stanley analysts predict the curve will be completely flat by 2018.
Meanwhile, retailers like Best Buy (BBY), Gap (GPS) and JCPenney (JCP) are trading higher on some positive early Black Friday results. JCPenney’s website saw the most visits of any day so far this year. Shares of Time Inc. (TIME) are surging after Meredith (MDP) said it struck a deal to buy Time for
Walmart (WMT) beat on earnings and revenue, with same-store sales rising more than expected. The retail giant also boosted its full-year forecast, sending the stock to an all-time high. Cisco (CSCO) shares are soaring to a 16-year high.
Amazon’s (AMZN) Whole Foods announced price cuts once again. The high-end grocery chain plans to drop prices on some of its best-selling grocery items and holiday staples this quarter. Amazon Prime members will also get deeper discounts on items including organic turkeys.
The Federal Reserve delivered an announcement in line with Wall Street's expectations, standing pat on interest rates and confirming the timeline for winding down its $4.5 trillion balance sheet.
Next week comes with 11 Fed speeches. Meanwhile, this could be the GOP's last chance to repeal Obamacare before the year's over.
The Fed's monetary policy announcement should address the path of interest rates, the plan to unwind the balance sheet, and expectations for the economy.
Tesla (TSLA) shares are sinking after Jefferies initiated coverage at underperform, telling clients that Tesla will lose a quarter of its value. Amazon (AMZN) announced that its web services will soon start charging customers by the second, rather than the hour, for use of its popular EC2 cloud computing
Nvidia (NVDA) hit an all-time high today after getting yet another bullish call. Analysts at Bank of America Merrill Lynch expect Nvidia will be the dominant supplier in the $30 billion AI chip market. Merrill’s new price target of $210 means it expects the stock will rally about 17% from Friday’s close
It’s been another wild day for bitcoin (BTCUSD=X) as the cryptocurrency faces both regulatory and structural challenges. On the regulation front, it’s getting hit hard in China. One of the biggest exchanges in the country, BTC China, said it’s shutting down trading in the next couple weeks.
The call of the week is a bearish one on the US dollar and has far reaching implications for many US companies. The team of analysts, including Andrew Garthwaite, managing director and global equity strategist at Credit Suisse, point to history as a guide, noting that the dollar has tended to move in
While over 90% of S&P 500 companies have already posted earnings for the second quarter, there are still some big reports to watch. JCPenney’s (JCP) stock plunged 15% today to an all-time low after posting a larger-than-expected loss of $0.09 per share. Nordstrom’s (JWN) results were a big contrast
Snap (SNAP) is set to report its second-quarter earnings after the bell and it has a lot to prove to investors. 1. Revenue growth has been slowing, and so far Snap has not been able to deliver the Facebook-like growth investors were clamoring for. Snap is expected to report revenue of $185.7 million
Disney (DIS) announced it’s going it solo, creating its own streaming service. Well, it wiped a couple billion off of Netflix’s market cap. Viacom (VIAB) shares lost 2.5%, CBS (CBS) fell 1.6%, and 21st Century Fox (FOXA) dropped 2%.