Malls see tsunami of store closures as foot traffic declines further

It’s only April, but already this year more store closures — nearly 6,000 — have been announced than in all of 2018. That’s after 2017 was a record year for closures announced by U.S. retailers amounting to more than 8,000. “I expect store closures to accelerate in 2019, hitting some 12,000 by year end,” Deborah Weinswig, founder and CEO of Coresight, said. Up until the final three months of 2018, indoor shopping malls with “experiential” tenants didn’t benefit from greater shopper traffic on a


It’s only April, but already this year more store closures — nearly 6,000 — have been announced than in all of 2018. That’s after 2017 was a record year for closures announced by U.S. retailers amounting to more than 8,000. “I expect store closures to accelerate in 2019, hitting some 12,000 by year end,” Deborah Weinswig, founder and CEO of Coresight, said. Up until the final three months of 2018, indoor shopping malls with “experiential” tenants didn’t benefit from greater shopper traffic on a
Malls see tsunami of store closures as foot traffic declines further Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: lauren thomas, getty images, david ryder
Keywords: news, cnbc, companies, thasos, store, foot, declines, malls, shopping, closures, traffic, tsunami, tenants, stores, retailers, 2018


Malls see tsunami of store closures as foot traffic declines further

It’s only April, but already this year more store closures — nearly 6,000 — have been announced than in all of 2018.

That surely isn’t helping mall owners.

Foot traffic at some of the best shopping centers across the country peaked around August 2018 and has since started to fall, after rebounding for much of last year, according to a new report from data analytics firm Thasos, which uses more than 100 million mobile phones to track when consumers enter and leave certain trade areas.

The good news for a lot of malls was that many retailers made a “comeback” and were able to draw in more shoppers by using promotions in 2018, John Collins, Thasos co-founder and chief product officer, said. “But if you’re selling merchandise at a loss, you can only do that for so long.”

As retailers are now starting to talk about pulling back on discounting, this could be one reason why traffic is dropping at malls, he said, in addition to the fact that some purchases are moving online. Another issue is landlords have been hoping that offering shoppers new experiences would make it more exciting to go to the mall, but the early evidence isn’t showing a boost in activity.

Thasos: Traffic has peaked at enclosed malls anchored by department stores

U.S. retailers so far have announced they will shut 5,994 stores, while opening 2,641, according to real estate tracking done by Coresight Research. That’s more locations slated to go dark than during last year. In 2018, there were 5,864 closures announced and 3,239 openings, Coresight said.

The planned closures include more than 2,000 from Payless ShoeSource, which filed for bankruptcy, hundreds from clothing retailers like Gymboree, Charlotte Russe, Victoria’s Secret and Gap, and discount chain Fred’s. Meantime, chains like Aldi, Dollar Tree, Ollie’s Bargain Outlet, Five Below and Levi’s are planning to open more stores.

On the closures front, however, the outlook doesn’t appear to be getting any better, Coresight predicts. That’s after 2017 was a record year for closures announced by U.S. retailers amounting to more than 8,000.

“I expect store closures to accelerate in 2019, hitting some 12,000 by year end,” Deborah Weinswig, founder and CEO of Coresight, said. “The slowdown we saw in 2018 seems to have been a brief respite in what’s a steady, long-term trend.”

Mall and shopping center owners, looking for ways to fill empty space, have in turn been forced to negotiate on lease terms with tenants and settle on cheaper rents.

“It’s funny because none of the retailers [closing stores] are surprising,” DJ Busch, analyst at commercial real estate services firm Green Street Advisors, said. “But when it happens in a wave, it disrupts negotiating power. It creates a soft point.”

Then, landlords are turning to up-and-coming digitally native brands like shirt company Untuckit, glasses maker Warby Parker and mattress retailer Casper, which are opening hundreds of stores as a group across the country after finding success on the internet, to move into their properties. They’re hoping adding tenants that provide unique experiences, like Legoland, Crayola Experience and Dave & Busters, will lure shoppers from their homes and out to the mall.

But Thasos’ Collins said that might not be going as planned.

His firm found malls with so-called experiential tenants that aren’t just focused on selling products, like Apple, Italian food hall Eataly and Tesla, haven’t been drawing in extra traffic. Up until the final three months of 2018, indoor shopping malls with “experiential” tenants didn’t benefit from greater shopper traffic on a year-over-year basis when compared with indoor malls without any of those unique, nonapparel tenants, Thasos said.

Thasos: Experiential tenants not yet offering ‘meaningful edge’ to traffic like landlords thought

“This suggests [real estate investment trusts] are overpaying to bring in Tesla and Apple, and others, in order to drive foot traffic to the property,” Collins said.

With more store closures likely on the horizon, consumers can expect to start seeing hotels, gyms, apartment complexes, more food halls and grocery stores at traditional malls, turning them into more like city centers. The new Hudson Yards mall, which opened in New York last month, is the perfect example of this mixed-use model.

Mall owners are also experimenting with spaces that let young brands rotate in and out frequently, where they sign short-term leases and gain access to data on foot traffic and shopping patterns. Macerich, the third-largest mall owner in the nation, has a business called BrandBox that it’s rolling out at its centers across the U.S.

“I think this is a multiyear transition,” Busch said. “Cleanse out some of these retailers that lasted longer than they should have. … It’s going to be tough. Anyone who thinks otherwise is too optimistic. But it doesn’t mean this is a dead business. … It can continue to be a good business as underproductive [retailers] go away, and the strong landlords invest.”

Mall owners including Simon, Brookfield, Taubman, Macerich, PREIT, CBL and Washington Prime are expected to report quarterly earnings in the coming weeks and will offer a glimpse at the current leasing environment and how they’re dealing with the latest wave of store closures.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: lauren thomas, getty images, david ryder
Keywords: news, cnbc, companies, thasos, store, foot, declines, malls, shopping, closures, traffic, tsunami, tenants, stores, retailers, 2018


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Tech stocks take a beating after hours on disappointing earnings reports

Wednesday was a bad day to report tech earnings. HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. HP and Square both fell 6 percent after their reports. Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent.


Wednesday was a bad day to report tech earnings. HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. HP and Square both fell 6 percent after their reports. Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent.
Tech stocks take a beating after hours on disappointing earnings reports Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: jordan novet, scott mlyn
Keywords: news, cnbc, companies, box, growth, booking, hours, disappointing, providing, earnings, reports, beating, fell, declines, tech, company, trading, stocks, square, earlier


Tech stocks take a beating after hours on disappointing earnings reports

Wednesday was a bad day to report tech earnings.

HP, Box, Square and Booking all plummeted in extended trading after providing quarterly numbers or forecasts that disappointed investors. Box led the declines, dropping as much as 23 percent on weaker-than-expected guidance. Fitbit was down 13 percent as it gave a dim forecast for earnings and revenue.

The declines came after the Dow Jones Industrial Average and S&P 500 both closed regular trading in the red. Earlier on Wednesday, Fed Chairman Jay Powell said during his testimony on Capitol Hill that “financial conditions are now less supportive of growth than they were earlier last year.”

HP and Square both fell 6 percent after their reports. HP’s revenue was up 1.3 percent, the lowest growth rate in two years.

Software company Alteryx dropped more than 5 percent, and Booking, the parent of Priceline and Kayak, slumped 10 percent.

Elastic, an open-source software company that went public last year, fell 8 percent even after surpassing estimates for the last quarter and providing optimistic guidance.

This is breaking news. Please check back for updates.

WATCH: Box CEO: We’re seeing our business become more seasonal


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: jordan novet, scott mlyn
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Papa John’s earnings, revenue miss, sees more sales declines in 2019

Papa John’s sales have suffered since it was revealed that John Schnatter, its founder and former CEO and chairman, used a racial slur on a conference call. Papa John’s is predicting that North American sales will continue to decline in fiscal 2019, with same-store sales in the region expected to fall between 1 and 5 percent. In January, the Papa John’s Foundation gave a $500,000 grant to Bennett College, a struggling historically black college for women. Papa John’s is leaning on new products t


Papa John’s sales have suffered since it was revealed that John Schnatter, its founder and former CEO and chairman, used a racial slur on a conference call. Papa John’s is predicting that North American sales will continue to decline in fiscal 2019, with same-store sales in the region expected to fall between 1 and 5 percent. In January, the Papa John’s Foundation gave a $500,000 grant to Bennett College, a struggling historically black college for women. Papa John’s is leaning on new products t
Papa John’s earnings, revenue miss, sees more sales declines in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-26  Authors: amelia lucas, jerod harris, acma, getty images
Keywords: news, cnbc, companies, 2019, papa, johns, earnings, analysts, revenue, pizza, sales, share, million, company, north, cents, declines, miss, sees


Papa John's earnings, revenue miss, sees more sales declines in 2019

Papa John’s International once again fell short of analysts’ expectations for its fourth-quarter earnings and revenue — and the embattled pizza chain is forecasting more struggles ahead.

Same-store sales in North America decreased by 8.1 percent during the latest period. During a conference call with analysts, CEO Steve Ritchie acknowledged the issue.

“The North America results are disappointing to all of us,” he said, going on to explain that promotional efforts aimed at boosting loyalty are weighing on sales results. Papa John’s sales have suffered since it was revealed that John Schnatter, its founder and former CEO and chairman, used a racial slur on a conference call.

Outside of North America, same-store sales saw smaller declines of 2.6 percent.

Papa John’s is predicting that North American sales will continue to decline in fiscal 2019, with same-store sales in the region expected to fall between 1 and 5 percent. On the other hand, it is expecting that international same-store sales will be flat or increase up to 3 percent.

Shares of the company were up more than 2 percent in extended trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: 15 cents, adjusted, vs. 17 cents expected

Revenue: $374.0 million vs. $390.1 million expected

Earlier this month, activist hedge fund Starboard Value invested $200 million in Papa John’s. Chief Executive Jeffrey Smith, who is credited with turning around Darden Restaurants, is now chairman of the company’s board.

In the fiscal fourth quarter, Papa John’s swung to a net loss of $13.8 million, or 44 cents per share, from net income of $28.5 million, or 81 cents per share, a year earlier.

Excluding the costs of financial assistance to North American franchisees and the company’s special committee, the pizza chain earned 15 cents per share, falling short of the 17 cents per share expected by analysts.

Net sales fell 20 percent to $374.0 million, missing expectations of $390.1 million. Ritchie told analysts that the company’s promotions and recently relaunched loyalty program put pressure on quarterly revenue without resonating with consumers. To encourage customers to join the program, the pizza chain was offering a variety of deals, including free cheese sticks when customers spent more than $12.

So far in February, the company is already seeing “very solid improvement,” Ritchie said.

He also expressed optimism about the loyalty program’s ability to boost sales over time, in part because of the customer data it provides. Papa John’s plans to use the data to better target customers for promotions. For example, the company is currently testing offerings for customers who prefer carryout.

After distancing itself from Schnatter, who still holds a 31 percent stake in Papa John’s, the company has been further trying to amend its public image. It spent $2.2 million during the fourth quarter — and $5.8 million total during fiscal 2018 — on reimaging costs. In January, the Papa John’s Foundation gave a $500,000 grant to Bennett College, a struggling historically black college for women.

The company said it will focus its marketing and advertising on the claim that it uses better ingredients than its competition. It will roll out a new TV and digital ad campaign next month based on that message.

Papa John’s is leaning on new products to drive sales in 2019. In March, it plans to release six new specialty pizzas, such as Ultimate Pepperoni and Zesty Italian Trio. Later this year, it will release the Hot Honey and Chicken Waffles pizza, the winner of a Twitter poll it conducted. It has also been testing sandwiches in various regions nationwide.

For fiscal 2019, the company is targeting earnings of $1.00 to $1.20 per share, excluding special charges. Those special charges are expected to include $30 million to $50 million in assistance to North American franchisees. Analysts were expecting full-year earnings of $1.20 per share, on the higher end of that range.

Papa John’s plans to add between 75 and 150 net new stores during the year.


Company: cnbc, Activity: cnbc, Date: 2019-02-26  Authors: amelia lucas, jerod harris, acma, getty images
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US markets are set to slip: Dow futures point to a decline of more than 150 points at the open

Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday. That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos. Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open. The report by the IMF came just hours after China reported its slowest economic growth in almost three de


Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday. That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos. Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open. The report by the IMF came just hours after China reported its slowest economic growth in almost three de
US markets are set to slip: Dow futures point to a decline of more than 150 points at the open Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: eustance huang
Keywords: news, cnbc, companies, warning, stateside, stocks, set, uk, trade, points, 150, futures, point, economic, imf, dow, markets, open, declines, growth, decline, slip


US markets are set to slip: Dow futures point to a decline of more than 150 points at the open

Futures are indicating that stateside stocks are set for a rocky start to their trading week on Tuesday.

That follows declines in the Asian markets and gloomy comments from the ongoing World Economic Forum in Davos.

Dow Jones Industrial Average futures declined 162 points, as of 2:55 a.m. Tuesday ET. That translated to an implied drop of 153.35 for the Dow at the upcoming open. S&P 500 and Nasdaq futures also pointed to declines for their indexes at the stateside open.

If those implied declines come to fruition, that would be a change of pace for American markets: The Dow notched its first 4-week winning streak since August last Friday. U.S. stocks did not trade on Monday because of Martin Luther King Jr. Day.

Over in Asia, stocks struggled for gains on Tuesday amid concerns about the global economic outlook after the International Monetary Fund (IMF) slashed its global growth forecast on Monday, warning that the economic momentum observed in recent years is decelerating.

The IMF now projects a 3.5 percent growth rate worldwide for 2019 and 3.6 percent for 2020. Those are 0.2 and 0.1 percentage points, respectively, below its last forecasts in October — making it the second downward revision in three months.

The report by the IMF came just hours after China reported its slowest economic growth in almost three decades.

Meanwhile, over in Davos, Switzerland, a prominent U.K. investor sounded an alarm on the market impact of events such as the ongoing China-U.S. trade war and uncertainty surrounding Brexit.

“(There’s) a lot of geopolitical risk between the U.S. and China — certainly we are in a worse place than we were a year ago,” Martin Gilbert, the co-CEO of British investment company Standard Life Aberdeen, told CNBC.

At the same time, the U.K. inches closer to its official departure date from the European Union of March 29 with no deal in sight, leaving the country with the possibility of crashing out of the EU without a formal agreement — something that business leaders and industry experts have been warning about since the negotiations began.

All that comes as the U.S. grapples with its own troubles politically, with the country still mired in its longest-ever government shutdown, which has left about 800,000 federal workers going without pay.

— CNBC’s Silvia Amaro contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: eustance huang
Keywords: news, cnbc, companies, warning, stateside, stocks, set, uk, trade, points, 150, futures, point, economic, imf, dow, markets, open, declines, growth, decline, slip


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Global stock markets: Here are the best and worst performers in 2018

Major stock markets across the world suffered their worst calendar year since the financial crisis in 2018, leaving many global investors fearful of further declines over the coming months. Simmering trade tensions between the world’s two largest economies, growing concerns over rising interest rates and pernicious geopolitical issues — such as Brexit — battered financial markets last year. With few of these issues resolved at the turn of the year, many market participants worry there could be e


Major stock markets across the world suffered their worst calendar year since the financial crisis in 2018, leaving many global investors fearful of further declines over the coming months. Simmering trade tensions between the world’s two largest economies, growing concerns over rising interest rates and pernicious geopolitical issues — such as Brexit — battered financial markets last year. With few of these issues resolved at the turn of the year, many market participants worry there could be e
Global stock markets: Here are the best and worst performers in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: sam meredith, brendan mcdermid, sega volskii, afp, getty images, robert atanasovski afp getty images, buena vista images, digitalvision, thomas janisch, bandar algalour
Keywords: news, cnbc, companies, global, financial, declines, market, worst, issues, performers, markets, best, coming, stock, 2018


Global stock markets: Here are the best and worst performers in 2018

Major stock markets across the world suffered their worst calendar year since the financial crisis in 2018, leaving many global investors fearful of further declines over the coming months.

Simmering trade tensions between the world’s two largest economies, growing concerns over rising interest rates and pernicious geopolitical issues — such as Brexit — battered financial markets last year.

With few of these issues resolved at the turn of the year, many market participants worry there could be even further declines over the coming months.

But, there were some notable exceptions to the general doom and gloom over the past 12 months.

CNBC takes a look at some of the best and worst performing global stock market indexes in U.S. dollar denominated terms for 2018.


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: sam meredith, brendan mcdermid, sega volskii, afp, getty images, robert atanasovski afp getty images, buena vista images, digitalvision, thomas janisch, bandar algalour
Keywords: news, cnbc, companies, global, financial, declines, market, worst, issues, performers, markets, best, coming, stock, 2018


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Stock market analysts are bullish on 2019 just because back-to-back annual declines are so rare

The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent. The S&P 500 reached record levels in 2018, but also came within a whisker of falling into bear-market territory on a closing basis. Frank Cappelleri, executive director at Instinet, said in a note Wednesday that annual declines are not that rare. In 1954, the S&P 500 surged 45 percent after falling 6.6 percent in 1953, he said.


The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent. The S&P 500 reached record levels in 2018, but also came within a whisker of falling into bear-market territory on a closing basis. Frank Cappelleri, executive director at Instinet, said in a note Wednesday that annual declines are not that rare. In 1954, the S&P 500 surged 45 percent after falling 6.6 percent in 1953, he said.
Stock market analysts are bullish on 2019 just because back-to-back annual declines are so rare Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, rare, stock, market, sp, 2018, gains, index, bullish, annual, 2019, declines, backtoback, 500, investors, analysts, cappelleri


Stock market analysts are bullish on 2019 just because back-to-back annual declines are so rare

2018 was terrible for stocks, but years like that are usually followed by a strong bounce the next year, stock market technical analysts are pointing out.

The S&P 500 fell 6.2 percent in 2018 to notch its biggest one-year decline since the financial crisis. In 2008, the broad market index plunged 38 percent.

Last year’s decline came as investors grappled with tighter monetary policy from the Federal Reserve, fear of a possible economic slowdown and worries over ongoing U.S.-China trade negotiations. It was also a year characterized by volatility. The S&P 500 reached record levels in 2018, but also came within a whisker of falling into bear-market territory on a closing basis.

Frank Cappelleri, executive director at Instinet, said in a note Wednesday that annual declines are not that rare. In fact, they have happened about a third of the time since 1927. “However, only four periods have seen consecutive yearly losses over the last 92 years.”

The only four times in which the S&P 500 has seen consecutive annual declines were in the following time periods, Cappelleri points out:

1929-1932

1939-1941

1973-1974

2000-2003

“For the very long term investors, this is good to remember,” Cappelleri said. “Over time, the risk-reward ratio pay offs. But as 2018 showed us, the risk portion does, in fact, exist and can hurt – badly.”

Craig Johnson, chief market technician at PiperJaffray, also said the last two annual declines that resembled last year’s 6.2 percent drop were followed up with sharp gains the next year.

In 1954, the S&P 500 surged 45 percent after falling 6.6 percent in 1953, he said. The broad index also jumped 26.3 percent in 1991 after sliding 6.56 percent in the previous year.

“The silver lining to last year’s disappointing equity market is that negative returns do not historically carry over into the succeeding year,” Johnson said in a note Wednesday. He also said the “technical setup for the broader market has improved over the last week. The S&P 500 has bounced off support near 2,350.”

To be sure, several of the concerns that plagued investors in 2018 have carried over into the New Year. China and the U.S. are still trying to make progress on the trade front. Forward looking indicators like the Purchasing Managers’ Index from different parts of the world point to slower economic activity moving forward. There are also concerns that corporate earnings growth may slow down after surging in 2018.

“Although there are manifold risks in front of us, we have recently been arguing for an investment stance that is long risk,” said Michael Darda, chief economist and market strategist at MKM Partners.

“Although we do not expect impressive equity returns from the highs of the year, we do expect strong gains from the 2018 lows,” Darda added. “History would suggest 22% gains (or 27% assuming it’s not 1930 or 2008) from the 2018 lows over the course of the next year.”

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Company: cnbc, Activity: cnbc, Date: 2019-01-02  Authors: fred imbert, getty images
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Hong Kong and Australia close out 2018 with annual declines

Stocks in Asia were mixed on the final day of 2018, as most major markets around the globe were set to record calendar year declines. Hong Kong’s Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70. The day’s gains, however, were unable to offset the index’s performance for 2018 — with it declining about 13.61 percent as compared to its final close of 2017. Hong Kong’s markets closed at 12:00 p.m. HK/SIN today for New Year’s Eve. The benchmark Australian index ended 2018 lo


Stocks in Asia were mixed on the final day of 2018, as most major markets around the globe were set to record calendar year declines. Hong Kong’s Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70. The day’s gains, however, were unable to offset the index’s performance for 2018 — with it declining about 13.61 percent as compared to its final close of 2017. Hong Kong’s markets closed at 12:00 p.m. HK/SIN today for New Year’s Eve. The benchmark Australian index ended 2018 lo
Hong Kong and Australia close out 2018 with annual declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: eustance huang
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Hong Kong and Australia close out 2018 with annual declines

Stocks in Asia were mixed on the final day of 2018, as most major markets around the globe were set to record calendar year declines.

Hong Kong’s Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70. The day’s gains, however, were unable to offset the index’s performance for 2018 — with it declining about 13.61 percent as compared to its final close of 2017. Hong Kong’s markets closed at 12:00 p.m. HK/SIN today for New Year’s Eve.

The ASX 200 in Australia, meanwhile, slipped 0.14 percent to close out 2018 at 5,646.40. The benchmark Australian index ended 2018 lower by 6.9 percent as compared to its final close of 2017. Australia’s markets closed at 11:10 a.m. HK/SIN today for New Year’s Eve.

On Monday, the materials subindex Down Under gained 0.4 percent, as shares of major miners advanced. Rio Tinto rose 0.50 percent, Fortescue advanced 1.21 percent and BHP Billiton climbed up by 0.82 percent.

Markets in Japan, South Korea and mainland China were closed.


Company: cnbc, Activity: cnbc, Date: 2018-12-31  Authors: eustance huang
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Japan leads declines amid broad slip in Asian stocks

Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall. Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.22 percent while Sumitomo Mitsui Financial Group dropped 2.21 percent. Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders. In Austral


Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall. Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.22 percent while Sumitomo Mitsui Financial Group dropped 2.21 percent. Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders. In Austral
Japan leads declines amid broad slip in Asian stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: eustance huang
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Japan leads declines amid broad slip in Asian stocks

Stocks in Asia were broadly lower on Friday, with Japanese equities leading the fall.

The Nikkei 225 fell 1.11 percent on the day as it closed at 20,166.19, while the Topix index declined by 1.91 percent to finish its trading week at 1,488.19. The benchmark Nikkei 225 dropped more than 2.5 percent in the previous trading session.

Shares of Japanese banks fell on the back of the Bank of Japan’s decision on Thursday to keep interest rate targets unchanged. Mitsubishi UFJ Financial Group shed 2.22 percent while Sumitomo Mitsui Financial Group dropped 2.21 percent. Japanese banks have suffered as a result of the central bank’s loose monetary policy, which has had the side effect of impacting the revenues of the country’s lenders.

Over in South Korea, the Kospi recovered from earlier losses to close slightly higher at 2,061.49 — up 0.07 percent.

In Australia, the ASX 200 lost its earlier gains to close 0.69 percent lower at 5,467.6, with most sectors slipping. Shares of the country’s so-called Big Four banks declined, with Australia and New Zealand Banking Group, Westpac and National Australia Bank all seeing declines of at least 1 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-21  Authors: eustance huang
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Asian stocks take a breather after days of declines

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec


The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively. Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw dec
Asian stocks take a breather after days of declines Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
Keywords: news, cnbc, companies, breather, day, days, stocks, australia, asian, declines, gained, shares, saw, index, close, rose, trading


Asian stocks take a breather after days of declines

Shares in Asia were mostly higher on Friday on the back of a report suggesting the U.S. Federal Reserve could consider a slower tempo of increasing interest rates than had been previously expected.

The hard-hit mainland Chinese markets ended the trading day mostly unchanged, with both the Shanghai composite and the Shenzhen composite largely flat at around 2,605.89 and about 1,350.70, respectively.

Meanwhile, the Hang Seng index in Hong Kong traded down by around 0.1 percent as of its final hour of trade.

Japan’s Nikkei 225 rose 0.82 percent to close at 21,678.68 while the Topix index gained 0.61 percent to finish the trading week at 1,620.45.

Shares of Softbank, which saw significant declines in the previous trading day, extended losses as it fell 2.09 percent on the day. The company had earlier announced that there was no change in its earnings and dividend forecasts after a mobile service outage on Thursday.

Over in South Korea, the Kospi gained 0.34 percent to close at 2,075.76, with shares of chipmaker SK Hynix rising 1.21 percent.

The ASX 200 in Australia rose 0.42 percent to close at 5,681.50, with almost sectors in positive territory. That was a rebound from Thursday, when the index saw declines amid a broader sell-off across the Asia Pacific region.

Shares of Australia’s so-called Big Four banks saw gains on the day. Australia and New Zealand Banking Group rose 0.16 percent, Commonwealth Bank of Australia gained 1.00 percent while Westpac advanced 0.23 percent and National Australia Bank climbed up by 0.25 percent.


Company: cnbc, Activity: cnbc, Date: 2018-12-07  Authors: eustance huang
Keywords: news, cnbc, companies, breather, day, days, stocks, australia, asian, declines, gained, shares, saw, index, close, rose, trading


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A look at past declines in Apple’s stock indicates this rout has further to go

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est


Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.” “Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said. “We should note that neither our current est
A look at past declines in Apple’s stock indicates this rout has further to go Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
Keywords: news, cnbc, companies, rout, sacconaghi, look, declines, estimates, indicates, cycle, apples, past, stock, wall, earnings, current, iphone, streets


A look at past declines in Apple's stock indicates this rout has further to go

Apple shares have lost more than quarter of their value in less than two months, but one of Wall Street’s top analysts on the stock explained why history is against a turnaround any time soon.

“Sell-side estimates have only been revised downwards by -0.8% so far, and history suggests that the stock is unlikely to inflect until estimates stop coming down,” Bernstein’s Toni Sacconaghi said in a note to investors Wednesday.

Sacconaghi looked at the last three times in the past decade when Apple’s stock has unperformed. The three downturns Sacconaghi identified are tied to the life cycle of iPhone products: The iPhone 5, the iPhone 6S and the beginning of the iPhone X. Of the lessons to be learned from prior stock downturns, Sacconaghi said Apple’s stock is “typically anticipatory of estimate declines,” as well as has a high correlation to Wall Street’s “next-12-month EPS estimates.”

“Perhaps most importantly, Apple’s stock price has historically bottomed only once sell-side EPS estimates have bottomed,” Sacconaghi said.

Apple’s full year 2019 earnings are about $12.34 a share when comparing the current product cycle to the iPhone 6S cycle in 2016, according to Sacconaghi. Those earnings would be about 7 percent below Wall Street’s current consensus for next year, Sacconaghi said.

Bernstein’s analysis does not include any potential hits to Apple from tariffs. The company’s stock slid on Tuesday after President Donald Trump suggested the U.S. could place a 10 percent tariff on iPhones and laptops made in China.

“We should note that neither our current estimates nor our downside scenario incorporates any potential impact from tariffs,” Sacconaghi said.

Apple shares have fallen more than 20 percent this month as of Tuesday’s close of $174.24 a share.

Bottom line: Until analysts are done cutting their earnings expectations on the stock, expect more weakness.

WATCH: Apple’s stock is plunging – Here’s what six experts say investors should know


Company: cnbc, Activity: cnbc, Date: 2018-11-28  Authors: michael sheetz, bernd thissen, afp, getty images
Keywords: news, cnbc, companies, rout, sacconaghi, look, declines, estimates, indicates, cycle, apples, past, stock, wall, earnings, current, iphone, streets


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