Stocks in Asia mixed as investors digest Fed minutes; Lenovo soars more than 12 percent

Stocks in Asia were mixed on Thursday following an earlier slip in the morning as traders digest a release from the Federal Reserve. Mainland Chinese shares saw losses on the day after a turbulent session which saw stocks swinging between positive and negative territory. The Shanghai composite slipped 0.34 percent to close at 2,751.80 while the Shenzhen component declined 0.256 percent to finish its trading day at 8,451.71. Elsewhere in Asia, Japan’s Nikkei 225 gained 0.15 percent to close at 21


Stocks in Asia were mixed on Thursday following an earlier slip in the morning as traders digest a release from the Federal Reserve. Mainland Chinese shares saw losses on the day after a turbulent session which saw stocks swinging between positive and negative territory. The Shanghai composite slipped 0.34 percent to close at 2,751.80 while the Shenzhen component declined 0.256 percent to finish its trading day at 8,451.71. Elsewhere in Asia, Japan’s Nikkei 225 gained 0.15 percent to close at 21
Stocks in Asia mixed as investors digest Fed minutes; Lenovo soars more than 12 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: eustance huang
Keywords: news, cnbc, companies, gained, strong, stocks, asia, 12, close, trading, shenzhen, day, digest, soars, slipped, shares, australia, mixed, fed, lenovo, minutes, investors


Stocks in Asia mixed as investors digest Fed minutes; Lenovo soars more than 12 percent

Stocks in Asia were mixed on Thursday following an earlier slip in the morning as traders digest a release from the Federal Reserve.

Mainland Chinese shares saw losses on the day after a turbulent session which saw stocks swinging between positive and negative territory. The Shanghai composite slipped 0.34 percent to close at 2,751.80 while the Shenzhen component declined 0.256 percent to finish its trading day at 8,451.71. The Shenzhen composite shed 0.269 percent to close at 1,444.35.

Hong Kong’s Hang Seng index rose around 0.3 percent in its final hour of trading.

Hong Kong-listed shares of computer maker Lenovo surged more than 12 percent after the company announced a return to profit in the third quarter, surpassing market expectations. Profit for the quarter was $233 million, versus a loss of $289 million in the same period a year earlier when the world’s largest personal computer maker by shipments took a one-off hit, following U.S. tax reform.

Elsewhere in Asia, Japan’s Nikkei 225 gained 0.15 percent to close at 21,464.23 while the Topix ended its trading day largely flat at 1,613.50. Shares of Japanese conglomerate Softbank Group, however, slipped 1.63 percent.

The Kospi in South Korea closed slightly lower at 2,228.66, with shares of Samsung Electronics rising 0.11 percent after the company unveiled its new series of Galaxy smartphones.

The ASX 200 in Australia rose 0.7 percent to close at 6,139.20 as the heavily weighted financial subindex added about 1.5 percent. Shares of the country’s so-called Big Four banks gained: Australia and New Zealand Banking Group advanced 1.83 percent, Commonwealth Bank of Australia added 2.01 percent, Westpac gained 1.32 percent and National Australia Bank edged up 0.69 percent.

The ongoing trade negotiations between the U.S. and China remain the “main focus” for markets and are likely to “provide the next catalyst for a strong move in sentiment,” Rakuten Securities Australia said in a morning note.

“Hopes that the US will extent the March 1 tariff deadline are growing and any confirmation of this should provide a relief rally across stocks and risk trades with implementation probably leading to a strong sell off,” they said.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: eustance huang
Keywords: news, cnbc, companies, gained, strong, stocks, asia, 12, close, trading, shenzhen, day, digest, soars, slipped, shares, australia, mixed, fed, lenovo, minutes, investors


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A recession indicator with a perfect track record over 70 years is close to being triggered

He pointed to the example of a recession in 1953 when the unemployment rate rose to just 3.1 percent, and in 1981 when the cyclical low in the unemployment rate was high at 7.2 percent. The unemployment rate, reported Feb. 1, rose to 4 percent in January from 3.9 percent. “The current rise is notable and would be troubling if it continues,” notes Lavorgna. Lavorgna, however, puts the risk of a recession at about one in three, and he expects the unemployment rate to head lower again, not higher.


He pointed to the example of a recession in 1953 when the unemployment rate rose to just 3.1 percent, and in 1981 when the cyclical low in the unemployment rate was high at 7.2 percent. The unemployment rate, reported Feb. 1, rose to 4 percent in January from 3.9 percent. “The current rise is notable and would be troubling if it continues,” notes Lavorgna. Lavorgna, however, puts the risk of a recession at about one in three, and he expects the unemployment rate to head lower again, not higher.
A recession indicator with a perfect track record over 70 years is close to being triggered Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: patti domm, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, recession, indicator, close, 70, perfect, unemployment, rate, low, reported, job, track, rose, lavorgna, triggered, notes, record, jobs


A recession indicator with a perfect track record over 70 years is close to being triggered

‘The economy feels like it has a lot of momentum,’ says ADP CEO after strong jobs data 7:03 PM ET Fri, 1 Feb 2019 | 06:09

He said a recession occurred in the 11 instances regardless of the level of unemployment. He pointed to the example of a recession in 1953 when the unemployment rate rose to just 3.1 percent, and in 1981 when the cyclical low in the unemployment rate was high at 7.2 percent.

The unemployment rate, reported Feb. 1, rose to 4 percent in January from 3.9 percent. It is currently 30 basis points above the low of 3.7 percent reported in November.

“The current rise is notable and would be troubling if it continues,” notes Lavorgna. Lavorgna, however, puts the risk of a recession at about one in three, and he expects the unemployment rate to head lower again, not higher.

“The recent increase in the rate has been due to rising labor force participation, which is a sign of economic strength not weakness,” he notes. The unemployment rate has risen for what economists say is a good reason — the long term unemployed are returning to the workforce and looking for jobs. .

“Generally job growth is positive just before a recession,” said LaVorgna. Job growth has averaged 240,000 over the past three months.

Lavorgna said there are mitigating factors that may make this cycle different. Lavorgna said the Fed’s policy about face is important because financial conditions have improved in the last six weeks, making recession less likely.

But he also says several of the economic series that could signal the end of a cycle may have peaked including ISM, jobless claims and the yield curve.

WATCH: LaVorgna says if Fed continues on its current path, we see a recession by 2020


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: patti domm, patrick t fallon, bloomberg, getty images
Keywords: news, cnbc, companies, recession, indicator, close, 70, perfect, unemployment, rate, low, reported, job, track, rose, lavorgna, triggered, notes, record, jobs


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Honda confirms UK factory closure but says it’s not Brexit-related

Japanese automaker Honda confirmed Tuesday that it plans to close its Swindon car plant in the U.K., risking the loss of 3,500 jobs. CEO Takahiro Hachigo said in a press conference Tuesday the decision was part of a global restructuring plan. Hachigo also said that Honda would continue to base its European headquarters in the U.K. Meanwhile, another official from Honda told BBC radio on Tuesday that the closure was not Brexit-related, according to Reuters. “This is a devastating decision for Swi


Japanese automaker Honda confirmed Tuesday that it plans to close its Swindon car plant in the U.K., risking the loss of 3,500 jobs. CEO Takahiro Hachigo said in a press conference Tuesday the decision was part of a global restructuring plan. Hachigo also said that Honda would continue to base its European headquarters in the U.K. Meanwhile, another official from Honda told BBC radio on Tuesday that the closure was not Brexit-related, according to Reuters. “This is a devastating decision for Swi
Honda confirms UK factory closure but says it’s not Brexit-related Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: spriha srivastava, max nash, afp, getty images
Keywords: news, cnbc, companies, brexitrelated, close, honda, global, confirms, according, uk, swindon, clark, decision, closure, factory, plant, hachigo


Honda confirms UK factory closure but says it's not Brexit-related

Japanese automaker Honda confirmed Tuesday that it plans to close its Swindon car plant in the U.K., risking the loss of 3,500 jobs.

CEO Takahiro Hachigo said in a press conference Tuesday the decision was part of a global restructuring plan. Hachigo also said that Honda would continue to base its European headquarters in the U.K.

Meanwhile, another official from Honda told BBC radio on Tuesday that the closure was not Brexit-related, according to Reuters.

British government officials have expressed their disappointment over Honda’s decision to close its only plant in the U.K.

“The U.K. is one of the leaders in the development of these technologies and so it is deeply disappointing that this decision has been taken now,” Business Secretary Greg Clark said, according to Reuters.

“This is a devastating decision for Swindon and the U.K.,” Clark said. “This is a commercial decision based on unprecedented changes in the global market.”


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: spriha srivastava, max nash, afp, getty images
Keywords: news, cnbc, companies, brexitrelated, close, honda, global, confirms, according, uk, swindon, clark, decision, closure, factory, plant, hachigo


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Asia stocks decline amid fears of slowing US economy

Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors await developments from the ongoing U.S-China trade negotiations in Beijing. Meanwhile, high level trade negotiations between China and the U.S. continued in Beijing as investors watched closely for developments. Elsewhere in Asia, Japan’s Nikkei 225 was down 1.13 percent to close at 20,900.63 while the Topix shed 0.79 percent to e


Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors await developments from the ongoing U.S-China trade negotiations in Beijing. Meanwhile, high level trade negotiations between China and the U.S. continued in Beijing as investors watched closely for developments. Elsewhere in Asia, Japan’s Nikkei 225 was down 1.13 percent to close at 20,900.63 while the Topix shed 0.79 percent to e
Asia stocks decline amid fears of slowing US economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang
Keywords: news, cnbc, companies, slipped, shed, shares, investors, slowing, shenzhen, asia, close, rose, negotiations, trade, fears, economy, markets, stocks, amid, decline


Asia stocks decline amid fears of slowing US economy

Major Asian stock markets closed lower on Friday, following the release of U.S. retail data overnight which raised concerns over a slowing American economy. Investors await developments from the ongoing U.S-China trade negotiations in Beijing.

Mainland Chinese markets saw losses on the day. The Shanghai composite slipped 1.37 percent to close at 2,682.38 while the Shenzhen component declined 1.148 percent to finish its trading day at 8,125.63. The Shenzhen composite also declined 0.67 percent to close at 1,389.47..

Hong Kong’s Hang Seng index slipped 1.91 percent in its final hour of trading.

The moves came after Chinese inflation data for January missed expectations, coming in at 1.7 percent higher as compared to a year ago, the National Bureau of Statistics said on Friday. Economists polled by Reuters were expecting China’s Consumer Price Index to come in at 1.9 percent higher on year. December CPI — a gauge of prices for goods and services — rose 1.9 percent over the same period.

Meanwhile, high level trade negotiations between China and the U.S. continued in Beijing as investors watched closely for developments.

Elsewhere in Asia, Japan’s Nikkei 225 was down 1.13 percent to close at 20,900.63 while the Topix shed 0.79 percent to end at 1,577.29. Shares of Japanese conglomerate Softbank Group fell 4.4 percent.

South Korea’s Kospi shed 1.34 percent to close at 2,196.09 as shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix fell 3.05 percent and 4.65 percent, respectively.

Australia’s ASX 200 bucked the overall trend in the region as it rose 0.11 percent to close at 6,066.10. The energy subindex rose 0.76 percent as oil stocks mostly gained. Santos advanced 0.75 percent, Woodside Petroleum gained 1.49 percent and Beach Energy added 2.17 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang
Keywords: news, cnbc, companies, slipped, shed, shares, investors, slowing, shenzhen, asia, close, rose, negotiations, trade, fears, economy, markets, stocks, amid, decline


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Trump: Obama told me that he was ‘close to starting a big war with North Korea’

WASHINGTON — President Donald Trump claimed Friday that the Obama administration “was so close to starting a big war with North Korea” when asked for details of the second summit between the U.S. and North Korea. “When I came into office, I met right there in the Oval Office with President Obama. He said by far, North Korea,” Trump explained from the Rose Garden. “I don’t want to speak for him, but I believe he would’ve gone to war with North Korea. In fact he told me he was so close to starting


WASHINGTON — President Donald Trump claimed Friday that the Obama administration “was so close to starting a big war with North Korea” when asked for details of the second summit between the U.S. and North Korea. “When I came into office, I met right there in the Oval Office with President Obama. He said by far, North Korea,” Trump explained from the Rose Garden. “I don’t want to speak for him, but I believe he would’ve gone to war with North Korea. In fact he told me he was so close to starting
Trump: Obama told me that he was ‘close to starting a big war with North Korea’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: amanda macias, saul loeb, afp, getty images, kcna
Keywords: news, cnbc, companies, weapons, trump, kim, nuclear, close, big, obama, war, starting, korea, north, missiles, president, told


Trump: Obama told me that he was 'close to starting a big war with North Korea'

WASHINGTON — President Donald Trump claimed Friday that the Obama administration “was so close to starting a big war with North Korea” when asked for details of the second summit between the U.S. and North Korea.

“When I came into office, I met right there in the Oval Office with President Obama. And I sat in those beautiful chairs, and we talked, it was supposed to be 15 minutes, as you know, it ended up being many times longer than that. And I said what’s the biggest problem? He said by far, North Korea,” Trump explained from the Rose Garden.

“I don’t want to speak for him, but I believe he would’ve gone to war with North Korea. I think he was ready to go to war. In fact he told me he was so close to starting a big war with North Korea,” Trump said.

The president then said that “a lot’s been accomplished” since meeting in June with North Korean leader Kim Jong Un in Singapore. Trump continued by saying that the relationship with Pyongyang has since improved.

“Where are we now? No missiles, no rockets, no nuclear testing. We’ve learned a lot. But much more importantly than all of it, much more important, much much more important than that, is, we have a great relationship,” Trump added.

On the heels of Trump’s remarks, Ben Rhodes, a top Obama national security aide, wrote on Twitter that the U.S. was not “on the brink of war with North Korea.”

Since 2011, the North Korean leader has fired more than 90 missiles and conducted four nuclear weapons tests, which is more than what his father, Kim Jong Il, and grandfather, Kim Il Sung, launched over a period of 27 years. In 2017 alone, Kim launched 24 missiles and carried out North Korea’s largest nuclear test.

North Korea is the only nation to test nuclear weapons this century.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: amanda macias, saul loeb, afp, getty images, kcna
Keywords: news, cnbc, companies, weapons, trump, kim, nuclear, close, big, obama, war, starting, korea, north, missiles, president, told


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Stocks in Asia mostly higher; Japan jumps more than 2 percent

Stocks in major Asian stock markets closed higher on Tuesday, with stocks in Japan leading in the region. Japan’s Nikkei 225 jumped 2.61 percent to close at 20,864.21, while the Topix gained 2.16 percent to finish its trading day at 1,572.60. The Shenzhen component rose 1.149 percent to close at 8,010.07 while the Shenzhen composite advanced 1.203 percent to finish its trading day at 1,364.15. LG Electronics gained 3.75 percent. The ASX 200 in Australia recovered from its earlier dip to close 0.


Stocks in major Asian stock markets closed higher on Tuesday, with stocks in Japan leading in the region. Japan’s Nikkei 225 jumped 2.61 percent to close at 20,864.21, while the Topix gained 2.16 percent to finish its trading day at 1,572.60. The Shenzhen component rose 1.149 percent to close at 8,010.07 while the Shenzhen composite advanced 1.203 percent to finish its trading day at 1,364.15. LG Electronics gained 3.75 percent. The ASX 200 in Australia recovered from its earlier dip to close 0.
Stocks in Asia mostly higher; Japan jumps more than 2 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: eustance huang
Keywords: news, cnbc, companies, trading, gained, stocks, higher, day, asia, close, shares, japan, rose, jumps, advanced, electronics


Stocks in Asia mostly higher; Japan jumps more than 2 percent

Stocks in major Asian stock markets closed higher on Tuesday, with stocks in Japan leading in the region.

Japan’s Nikkei 225 jumped 2.61 percent to close at 20,864.21, while the Topix gained 2.16 percent to finish its trading day at 1,572.60. Shares of Fast Retailing rose 3.01 percent while chip company Renesas Electronics skyrocketed 16.26 percent.

Mainland Chinese markets were higher in the day. The Shenzhen component rose 1.149 percent to close at 8,010.07 while the Shenzhen composite advanced 1.203 percent to finish its trading day at 1,364.15. The Shanghai composite also went up 0.68 percent to close at 2,671.89.

Hong Kong’s Hang Seng index was largely flat, as of its final hour of trading.

South Korea’s Kospi gained 0.45 percent to close at 2,190.47, as shares of industry heavyweight Samsung Electronics and chipmaker SK Hynix jumped 2.33 percent and 2.43 percent, respectively. LG Electronics gained 3.75 percent.

The ASX 200 in Australia recovered from its earlier dip to close 0.3 percent higher at 6,079.10 as the sectors mostly rose. The energy subindex gained 1.22 percent as shares of oil companies advanced. Santos was up 1.89 percent, Woodside Petroleum advanced 0.58 percent and Beach Energy rose 2.11 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: eustance huang
Keywords: news, cnbc, companies, trading, gained, stocks, higher, day, asia, close, shares, japan, rose, jumps, advanced, electronics


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Facebook shares could be on the road to new highs, trader says

Facebook shares are rising, and that has one trader hitting the buy button on the stock. This means that in the short term, he believes Facebook could return to around $190, the lower end of that gap down in July. But Gordon also believes that the recent consolidation in Facebook shares after its Jan. 30 earnings report could also point to more upside for the stock. But should Facebook close above $190 on April 18, then Gordon could make up to $1,466 on his trade. Thanks to its jump on earnings,


Facebook shares are rising, and that has one trader hitting the buy button on the stock. This means that in the short term, he believes Facebook could return to around $190, the lower end of that gap down in July. But Gordon also believes that the recent consolidation in Facebook shares after its Jan. 30 earnings report could also point to more upside for the stock. But should Facebook close above $190 on April 18, then Gordon could make up to $1,466 on his trade. Thanks to its jump on earnings,
Facebook shares could be on the road to new highs, trader says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: annie pei, getty images, joshua roberts, bloomberg, miguel riopa, afp, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, trader, gordon, highs, gap, shares, stock, road, consolidation, believes, close, 534, facebook, means, earnings


Facebook shares could be on the road to new highs, trader says

Facebook shares are rising, and that has one trader hitting the buy button on the stock.

The stock is up 15 percent since reporting earnings Jan. 30, leading Todd Gordon, founder of TradingAnalysis.com, to believe new highs could come sooner than investors think.

“We have a gap that’s yet to be closed, which is quite constructive in the underlying stock,” Gordon said Tuesday on CNBC’s “Trading Nation.” “And it looks like we could go up.”

In fact, Gordon believes that the stock is set to close a giant gap down in the charts from that July all-time high when the social media stock cratered from earnings. This means that in the short term, he believes Facebook could return to around $190, the lower end of that gap down in July.

But Gordon also believes that the recent consolidation in Facebook shares after its Jan. 30 earnings report could also point to more upside for the stock. He believes that the consolidation post-upward earnings gap means that “sellers aren’t really interested” in getting in the stock, and it’s now mirroring a consolidation happening in the market as well.

“Once the market does get through consolidation, I believe the next move should be up in Facebook,” he added.

As a result, Gordon wants to buy the April monthly 170-strike call and sell the April monthly 190-strike call for about $5.34, or $534 per options spread.

This means that should Facebook close below $170 on April 18 expiration, then Gordon would lose the $534 he paid to make the trade. But should Facebook close above $190 on April 18, then Gordon could make up to $1,466 on his trade.

Thanks to its jump on earnings, Facebook has now risen 27 percent year to date.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: annie pei, getty images, joshua roberts, bloomberg, miguel riopa, afp, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, trader, gordon, highs, gap, shares, stock, road, consolidation, believes, close, 534, facebook, means, earnings


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Asia markets decline amid fresh concerns over US-China trade

Stocks in Asia slipped on Friday amid growing concerns over the trade fight between the U.S. and China. Hong Kong’s Hang Seng index, which returned to trade after being offline for most of the week due to the Lunar New Year holidays, slipped 0.18 percent in afternoon trade. The energy subindex fell 2.63 percent as oil stocks declined on the back of Thursday’s drop in crude prices. Santos shares fell 4.37 percent, Woodside Petroleum slipped 1.67 percent and Beach Energy dropped 9.67 percent. The


Stocks in Asia slipped on Friday amid growing concerns over the trade fight between the U.S. and China. Hong Kong’s Hang Seng index, which returned to trade after being offline for most of the week due to the Lunar New Year holidays, slipped 0.18 percent in afternoon trade. The energy subindex fell 2.63 percent as oil stocks declined on the back of Thursday’s drop in crude prices. Santos shares fell 4.37 percent, Woodside Petroleum slipped 1.67 percent and Beach Energy dropped 9.67 percent. The
Asia markets decline amid fresh concerns over US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: eustance huang
Keywords: news, cnbc, companies, amid, markets, fresh, slipped, stocks, fell, shares, week, close, trade, uschina, asia, crude, shed, declined, concerns, decline


Asia markets decline amid fresh concerns over US-China trade

Stocks in Asia slipped on Friday amid growing concerns over the trade fight between the U.S. and China.

Hong Kong’s Hang Seng index, which returned to trade after being offline for most of the week due to the Lunar New Year holidays, slipped 0.18 percent in afternoon trade. Shares of Chinese tech heavyweight Tencent declined 0.52 percent.

Japan’s Nikkei 225 declined 2.01 percent to close at 20,333.17 as index heavyweight Fast Retailing fell 0.5 percent. The Topix shed 1.89 percent to close at 1,539.40. Shares of Sony, however, bucked the overall downward trend and jumped 4.1 percent after the company announced its first-ever share buyback of $910 million.

South Korea’s Kospi also slipped 1.2 percent to finish its trading week at 2,177.05.

The ASX 200 in Australia shed 0.34 percent to close at 6,071.5. The energy subindex fell 2.63 percent as oil stocks declined on the back of Thursday’s drop in crude prices.

Santos shares fell 4.37 percent, Woodside Petroleum slipped 1.67 percent and Beach Energy dropped 9.67 percent.

Oil prices declined in afternoon trade on Friday during Asian hours. The international Brent crude futures contract slipped 0.8 percent to $61.14 per barrel while U.S. crude futures fell 0.85 percent to $52.19 per barrel.

In India, Tata Motors shares plummeted more than 18 percent after the company announced its largest quarterly loss on Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: eustance huang
Keywords: news, cnbc, companies, amid, markets, fresh, slipped, stocks, fell, shares, week, close, trade, uschina, asia, crude, shed, declined, concerns, decline


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This tech stock could weather another Nasdaq downturn, trader says

Whether the Nasdaq is in for another tumble or not, Strategic Wealth Partners’ Mark Tepper sees one stock that could weather a downturn. “We like Salesforce,” Tepper said on CNBC’s “Trading Nation” on Thursday. While Salesforce could head higher, one technician says the broader Nasdaq 100 is in for a rough stretch. The Nasdaq 100 has not traded firmly above its 200-day moving average since October. The Nasdaq 100 was less than 1 percent below that level by market close Thursday.


Whether the Nasdaq is in for another tumble or not, Strategic Wealth Partners’ Mark Tepper sees one stock that could weather a downturn. “We like Salesforce,” Tepper said on CNBC’s “Trading Nation” on Thursday. While Salesforce could head higher, one technician says the broader Nasdaq 100 is in for a rough stretch. The Nasdaq 100 has not traded firmly above its 200-day moving average since October. The Nasdaq 100 was less than 1 percent below that level by market close Thursday.
This tech stock could weather another Nasdaq downturn, trader says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: keris lahiff, george frey, bloomberg, getty images, adam jeffery, drew angerer, brendan mcdermid, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, nasdaq, tepper, salesforce, revenues, close, tech, 100, think, gordon, trader, stock, look, market, weather, downturn


This tech stock could weather another Nasdaq downturn, trader says

Salesforce can still do well in this market, says expert 22 Hours Ago | 02:08

The Nasdaq 100 tried to break above December highs … but failed.

Earlier this week, the index came close to its Dec. 3 peak. That top preceded a slump that took the index down 15 percent for the month.

Whether the Nasdaq is in for another tumble or not, Strategic Wealth Partners’ Mark Tepper sees one stock that could weather a downturn.

“We like Salesforce,” Tepper said on CNBC’s “Trading Nation” on Thursday. “When we look at tech in general, we really like software more so than we like hardware or semis.”

Salesforce shares are up 9 percent during the past three months as of Thursday’s close, far better than the 4 percent decline on the Nasdaq 100. They were down 1.8 percent in Friday’s premarket.

“When you look at a company like Salesforce, they’ve got a lot going for them. Yes, the valuation is high, but it’s really justified,” said Tepper. “They have sticky customers. It’s very expensive to get that platform customized and off the ground, they have recurring revenues which is worth two to three times as much as one-time revenues, and I believe that their revenues are essentially recession proof.”

While Salesforce could head higher, one technician says the broader Nasdaq 100 is in for a rough stretch.

“It’s actually how scary how significant this resistance that is keeping the market down,” said TradingAnalysis.com’s Todd Gordon. “This 200-day moving average, it just seems to define this whole market. You can see we’ve come right up to test it.”

The Nasdaq 100 has not traded firmly above its 200-day moving average since October. The long-term trend line has also flatlined after a steady climb since late 2016.

“The other thing traders will look at is retracement levels. We’ve retraced roughly two-thirds or specifically 61 percent,” Gordon said. “This is a resistance level that should have held, it is holding. I’m a little nervous about that.”

Gordon pinpoints its 61 percent retracement at around 6,953. The Nasdaq 100 was less than 1 percent below that level by market close Thursday.

“I think for now, it looks like lower. Is this going to be a long-term top? I don’t think so but I think a couple days of volatility,” Gordon added.

Disclosure: Strategic Wealth Partners has a position in Salesforce.


Company: cnbc, Activity: cnbc, Date: 2019-02-08  Authors: keris lahiff, george frey, bloomberg, getty images, adam jeffery, drew angerer, brendan mcdermid, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, nasdaq, tepper, salesforce, revenues, close, tech, 100, think, gordon, trader, stock, look, market, weather, downturn


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Liberty Media joins bidding for regional sports networks being sold by Disney, sources say

Liberty Media has joined the bidding for the regional sports networks that Disney is trying to sell to finalize a deal with Twenty-First Century Fox, sources told CNBC. Disney is selling them in order to complete its $71 billion deal to acquire Fox’s movie production and television assets, which included the regional sports networks. Last week, CNBC reported that MLB’s bid would value the networks at no more than 6.5 times earnings before interest, taxes, depreciation and amortization. A sale of


Liberty Media has joined the bidding for the regional sports networks that Disney is trying to sell to finalize a deal with Twenty-First Century Fox, sources told CNBC. Disney is selling them in order to complete its $71 billion deal to acquire Fox’s movie production and television assets, which included the regional sports networks. Last week, CNBC reported that MLB’s bid would value the networks at no more than 6.5 times earnings before interest, taxes, depreciation and amortization. A sale of
Liberty Media joins bidding for regional sports networks being sold by Disney, sources say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: david faber, matthew staver, bloomberg, getty images
Keywords: news, cnbc, companies, sold, regional, disney, bid, sources, liberty, earnings, say, networks, media, joins, week, deal, close, weekslast, value, bidding


Liberty Media joins bidding for regional sports networks being sold by Disney, sources say

Liberty Media has joined the bidding for the regional sports networks that Disney is trying to sell to finalize a deal with Twenty-First Century Fox, sources told CNBC.

Liberty and Major League Baseball have submitted bids in the auction. Disney is selling them in order to complete its $71 billion deal to acquire Fox’s movie production and television assets, which included the regional sports networks. That deal is expected to close within weeks.

Last week, CNBC reported that MLB’s bid would value the networks at no more than 6.5 times earnings before interest, taxes, depreciation and amortization.

Sinclair Broadcast and the private equity firm Apollo, which had been looking to bid, are now said to be out of the process, though Sinclair may seek to join another bid.

A sale of the sports networks could be a topic of discussion for Disney executives later Tuesday. The company is set to report earnings after the close of trading.


Company: cnbc, Activity: cnbc, Date: 2019-02-05  Authors: david faber, matthew staver, bloomberg, getty images
Keywords: news, cnbc, companies, sold, regional, disney, bid, sources, liberty, earnings, say, networks, media, joins, week, deal, close, weekslast, value, bidding


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