Dow drops 470 points on growing trade-war threat, biggest decline since early January

The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off. Lighthizer made his remarks after President Donald Trump tweeted he would raise current tariffs 10% on $200 billion of Chinese goods to 25% on Friday. He also threatened to impose an extra 25% levy on another $325 billion of Ch


The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off. Lighthizer made his remarks after President Donald Trump tweeted he would raise current tariffs 10% on $200 billion of Chinese goods to 25% on Friday. He also threatened to impose an extra 25% levy on another $325 billion of Ch
Dow drops 470 points on growing trade-war threat, biggest decline since early January Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: fred imbert yun li, fred imbert, yun li
Keywords: news, cnbc, companies, threat, trade, tariffs, think, dropped, dow, 470, tradewar, biggest, goods, decline, early, chinese, drops, growing, points, sp, fell


Dow drops 470 points on growing trade-war threat, biggest decline since early January

Stocks fell sharply on Tuesday after a top U.S. trade official indicated that higher tariffs on Chinese goods are coming later this week, disappointing traders who hoped President Donald Trump’s weekend tweet threat was just a negotiation tactic.

The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. It was the Dow’s biggest drop since January 3. The Nasdaq Composite dropped 1.96% to 7,963.76. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off.

Shares of trade bellwethers Caterpillar and Boeing fell 2.26% and 3.87%, respectively. Boeing also broke below its 200-day moving average for the first time since January. Chipmakers, especially vulnerable if China retaliates, led the tech sector lower as Nvidia dropped 3.75%. Apple also fell 2.7%.

U.S. Trade Representative Robert Lighthizer told reporters that the U.S. will increase levies on Chinese imports on Friday.

Lighthizer’s comments “further increased the likelihood of a tariff step up,” Keith Parker, a strategist at UBS, said in a note. A full-blown trade war would shave off 45 basis points from global economic growth, while China’s GDP would take a hit of between 1.2% and 1.5%.

“We still see a trade war as low probability given the next tranche of tariffs would hit US consumer goods, but nevertheless it would have a big negative impact,” he said.

Lighthizer made his remarks after President Donald Trump tweeted he would raise current tariffs 10% on $200 billion of Chinese goods to 25% on Friday. He also threatened to impose an extra 25% levy on another $325 billion of Chinese goods “shortly.”

Trump’s tweets initially sent the market reeling on Monday. The Dow fell as much as 471 points while the Nasdaq dropped 2% at one point. However, equities rebounded to close well off their lows on news that a Chinese delegation would come to Washington for talks and as traders bet that Trump’s tweet was just bluffing.

But Lighthizer’s comments dashed those hopes. The selling on Tuesday accelerated after the Dow broke through Monday’s lows.

The Cboe Volatility Index, a measure of the 30-day implied volatility of the S&P 500 known as the “VIX” or the “fear gauge,” hit a fresh high of 21.09 on Tuesday, its highest level since January 22.

“I think this is a big masquerade by the administration. I think they’re preparing the market for the worst-case scenario but a trade deal is probably going to happen,” said Peter Cardillo, chief market economist at Spartan Capital Securities. “I still think we’ll get some sort of positive announcement on Friday.”


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: fred imbert yun li, fred imbert, yun li
Keywords: news, cnbc, companies, threat, trade, tariffs, think, dropped, dow, 470, tradewar, biggest, goods, decline, early, chinese, drops, growing, points, sp, fell


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Alphabet had its worst day since 2012 after Google’s slowing ad revenue worries investors

Alphabet just closed its worst day since April 2010 after reporting slowing advertising numbers for Google. The stock dropped 7.5% Tuesday, shaving more than $67 billion from its market cap, which now sits at $833.5 billion. The slide was the worst for Alphabet or Google since October 2012 when the stock dropped 8.01%. “Overall, we expect GOOGL shares to be under pressure in the near-term given sub-20% revenue growth & downward earnings revisions. As noted above, the exact drivers of GOOGL’s slo


Alphabet just closed its worst day since April 2010 after reporting slowing advertising numbers for Google. The stock dropped 7.5% Tuesday, shaving more than $67 billion from its market cap, which now sits at $833.5 billion. The slide was the worst for Alphabet or Google since October 2012 when the stock dropped 8.01%. “Overall, we expect GOOGL shares to be under pressure in the near-term given sub-20% revenue growth & downward earnings revisions. As noted above, the exact drivers of GOOGL’s slo
Alphabet had its worst day since 2012 after Google’s slowing ad revenue worries investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, googles, investors, dropped, revenue, slowing, ad, transparency, growth, worries, lack, googls, worst, google, alphabet, day, stock


Alphabet had its worst day since 2012 after Google's slowing ad revenue worries investors

Google CEO Sundar Pichai takes the stage during the presentation of new Google hardware in San Francisco on Oct. 4, 2016.

Alphabet just closed its worst day since April 2010 after reporting slowing advertising numbers for Google.

The stock dropped 7.5% Tuesday, shaving more than $67 billion from its market cap, which now sits at $833.5 billion. The slide was the worst for Alphabet or Google since October 2012 when the stock dropped 8.01%. (In 2015, Google changed its corporate name to Alphabet in a restructuring.)

Alphabet’s stock began to plunge after hours on Monday on fears of decelerating growth of Google’s advertising revenue. The company reported 15% growth in ad revenue for its first quarter of 2019, compared to 24% the previous year. In notes following the report, analysts complained about what they perceived as the company’s lack of transparency around the slowdown.

“Overall, we expect GOOGL shares to be under pressure in the near-term given sub-20% revenue growth & downward earnings revisions. As noted above, the exact drivers of GOOGL’s slowing topline are unclear, & we believe frustration around GOOGL’s lack of transparency will only increase,” J.P. Morgan analysts wrote.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, googles, investors, dropped, revenue, slowing, ad, transparency, growth, worries, lack, googls, worst, google, alphabet, day, stock


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Here’s why Altice USA just dropped $200 million on streaming video start-up Cheddar

Cable and internet provider Altice USA has agreed to buy news streaming start-up Cheddar for $200 million, snapping up a growing video site with a focus on ad revenue. Cheddar founder and Chief Executive Jon Steinberg will stay on to lead Altice News, which includes Cheddar, News 12 and i24NEWS, an Israel-based 24-hour international news network. Altice USA CEO Dexter Goei told CNBC that Steinberg should be able to “turbocharge” Altice’s news offerings with a larger balance sheet at his disposal


Cable and internet provider Altice USA has agreed to buy news streaming start-up Cheddar for $200 million, snapping up a growing video site with a focus on ad revenue. Cheddar founder and Chief Executive Jon Steinberg will stay on to lead Altice News, which includes Cheddar, News 12 and i24NEWS, an Israel-based 24-hour international news network. Altice USA CEO Dexter Goei told CNBC that Steinberg should be able to “turbocharge” Altice’s news offerings with a larger balance sheet at his disposal
Here’s why Altice USA just dropped $200 million on streaming video start-up Cheddar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: alex sherman
Keywords: news, cnbc, companies, altice, 200, streaming, steinberg, million, heres, dropped, startup, includes, goei, video, usa, jon, media, cheddar, general, business


Here's why Altice USA just dropped $200 million on streaming video start-up Cheddar

Cable and internet provider Altice USA has agreed to buy news streaming start-up Cheddar for $200 million, snapping up a growing video site with a focus on ad revenue.

Cheddar founder and Chief Executive Jon Steinberg will stay on to lead Altice News, which includes Cheddar, News 12 and i24NEWS, an Israel-based 24-hour international news network. Altice USA CEO Dexter Goei told CNBC that Steinberg should be able to “turbocharge” Altice’s news offerings with a larger balance sheet at his disposal, and help Altice bolster its advertising business.

“Cheddar gives us a full suite of news, business and general news to advertise across multiple different markets,” Goei said. “But beyond the product, it’s about bringing on board a management team led by Jon Steinberg that knows how to create good news content and get distributed as broadly as possible.”

Steinberg started Cheddar in 2016 as a live-streaming business channel geared to a millennial audience, and has since expanded into general news. Goei said that Steinberg will continue moving the company into new areas. The Wall Street Journal was the first to report on the acquisition.

The deal comes as other digital media companies struggle to sustain their growth with Google and Facebook gobbling up the majority of online ad dollars. BuzzFeed and Vice Media recently announced dramatic layoffs, as did Verizon Media Group, which includes HuffPo, Yahoo and TechCrunch.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: alex sherman
Keywords: news, cnbc, companies, altice, 200, streaming, steinberg, million, heres, dropped, startup, includes, goei, video, usa, jon, media, cheddar, general, business


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Alphabet had its worst day since 2012 after Google’s slowing ad revenue worries investors

Alphabet just closed its worst day since April 2010 after reporting slowing advertising numbers for Google. The stock dropped 7.5% Tuesday, shaving more than $67 billion from its market cap, which now sits at $833.5 billion. The slide was the worst for Alphabet or Google since October 2012 when the stock dropped 8.01%. “Overall, we expect GOOGL shares to be under pressure in the near-term given sub-20% revenue growth & downward earnings revisions. As noted above, the exact drivers of GOOGL’s slo


Alphabet just closed its worst day since April 2010 after reporting slowing advertising numbers for Google. The stock dropped 7.5% Tuesday, shaving more than $67 billion from its market cap, which now sits at $833.5 billion. The slide was the worst for Alphabet or Google since October 2012 when the stock dropped 8.01%. “Overall, we expect GOOGL shares to be under pressure in the near-term given sub-20% revenue growth & downward earnings revisions. As noted above, the exact drivers of GOOGL’s slo
Alphabet had its worst day since 2012 after Google’s slowing ad revenue worries investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, googls, revenue, worst, alphabet, ad, growth, lack, day, googles, worries, google, dropped, stock, transparency, investors, slowing


Alphabet had its worst day since 2012 after Google's slowing ad revenue worries investors

Google CEO Sundar Pichai takes the stage during the presentation of new Google hardware in San Francisco on Oct. 4, 2016.

Alphabet just closed its worst day since April 2010 after reporting slowing advertising numbers for Google.

The stock dropped 7.5% Tuesday, shaving more than $67 billion from its market cap, which now sits at $833.5 billion. The slide was the worst for Alphabet or Google since October 2012 when the stock dropped 8.01%. (In 2015, Google changed its corporate name to Alphabet in a restructuring.)

Alphabet’s stock began to plunge after hours on Monday on fears of decelerating growth of Google’s advertising revenue. The company reported 15% growth in ad revenue for its first quarter of 2019, compared to 24% the previous year. In notes following the report, analysts complained about what they perceived as the company’s lack of transparency around the slowdown.

“Overall, we expect GOOGL shares to be under pressure in the near-term given sub-20% revenue growth & downward earnings revisions. As noted above, the exact drivers of GOOGL’s slowing topline are unclear, & we believe frustration around GOOGL’s lack of transparency will only increase,” J.P. Morgan analysts wrote.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: lauren feiner
Keywords: news, cnbc, companies, googls, revenue, worst, alphabet, ad, growth, lack, day, googles, worries, google, dropped, stock, transparency, investors, slowing


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The last time semis stocks did this they dropped 14%

Semis stocks are their most overbought in more than a year 3:15 PM ET Wed, 17 April 2019 | 03:09Semis are on fire. The SMH ETF’s relative strength index, a momentum measure, has stretched past 70, the level that typically indicates overbought conditions. “If you look back at February, as the semis were moving higher, the SMH hit 70. Not all semis stocks have performed well over the past year, though. The SMH ETF trades at 17 times forward earnings, but its constituents vary wildly.


Semis stocks are their most overbought in more than a year 3:15 PM ET Wed, 17 April 2019 | 03:09Semis are on fire. The SMH ETF’s relative strength index, a momentum measure, has stretched past 70, the level that typically indicates overbought conditions. “If you look back at February, as the semis were moving higher, the SMH hit 70. Not all semis stocks have performed well over the past year, though. The SMH ETF trades at 17 times forward earnings, but its constituents vary wildly.
The last time semis stocks did this they dropped 14% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: keris lahiff, michaela rehle, getty images, monty rakusen, cultura, sopa images, lightrocket, johannes eisele, afp, kcna
Keywords: news, cnbc, companies, semis, higher, 14, smh, overbought, trades, etf, 70, stocks, dropped, trading, times, past


The last time semis stocks did this they dropped 14%

Semis stocks are their most overbought in more than a year 3:15 PM ET Wed, 17 April 2019 | 03:09

Semis are on fire.

The SMH semiconductor ETF has surged nearly 5% in the past week, getting a boost from Qualcomm after it settled a years-long royalties dispute with Apple.

However, that spike has taken the chips to their most overbought levels since January 2018. The SMH ETF’s relative strength index, a momentum measure, has stretched past 70, the level that typically indicates overbought conditions. The last time its RSI was that high at the beginning of last year it marked a peak that preceded a 14% drop in less than three weeks.

JC O’Hara, chief market technician at MKM Partners, isn’t worried.

“I never want to use the word ‘overbought’ because it carries such a bad connotation. What is really overbought? Overbought is just a momentum surge,” O’Hara said on CNBC’s “Trading Nation” on Wednesday. “If you look back at February, as the semis were moving higher, the SMH hit 70. If you sold then, you would have missed an additional 12% on the upside.”

Since the ETF’s RSI peaked above 70 in late February, it has rallied to its highest level ever. The ETF notched fresh records on Tuesday and Wednesday.

“Taking a step back, overbought is actually a good thing, so we would look to be buyers of any sort of minor weakness here because we actually think the strong trends continue higher from here,” said O’Hara.

Not all semis stocks have performed well over the past year, though. While Advanced Micro Devices has rocketed 165% higher in 12 months, Nvidia has plummeted 21%. Those disparate performances are a red flag to Gina Sanchez, CEO of Chantico Global.

“The semis are a challenge right now to trade as a group,” Sanchez said on the CNBC segment. “The sector as a whole is still trading below its long-term valuation, so you could argue that that’s a buy. But I’m going to tell you there’s a lot of different stories trading in that whole group of stocks.”

The SMH ETF trades at 17 times forward earnings, but its constituents vary wildly. Micron Technology, for instance, trades at 8 times earnings, while Universal Display trades with an 67 times multiple.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: keris lahiff, michaela rehle, getty images, monty rakusen, cultura, sopa images, lightrocket, johannes eisele, afp, kcna
Keywords: news, cnbc, companies, semis, higher, 14, smh, overbought, trades, etf, 70, stocks, dropped, trading, times, past


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Stocks making the biggest moves midday: Spotify, Lyft, Waste Management & more

Check out the companies making headlines midday Monday:Citigroup — The bank’s stock fell 1% after reporting mixed quarterly results. Goldman Sachs — Shares of Goldman Sachs slid about 3% after the investment bank posted weaker-than-expected first-quarter revenue. The bank said Monday that revenue dropped 13% to $8.81 billion, below analyst’s $8.9 billion estimate. Waste Management — Shares of Waste Management rose 1.6% after the company announced plans to buy smaller rival Advanced Disposal Serv


Check out the companies making headlines midday Monday:Citigroup — The bank’s stock fell 1% after reporting mixed quarterly results. Goldman Sachs — Shares of Goldman Sachs slid about 3% after the investment bank posted weaker-than-expected first-quarter revenue. The bank said Monday that revenue dropped 13% to $8.81 billion, below analyst’s $8.9 billion estimate. Waste Management — Shares of Waste Management rose 1.6% after the company announced plans to buy smaller rival Advanced Disposal Serv
Stocks making the biggest moves midday: Spotify, Lyft, Waste Management & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, spotify, moves, biggest, company, billion, lyft, dropped, management, waste, service, midday, sachs, stocks, shares, stock, revenue, making, fell


Stocks making the biggest moves midday: Spotify, Lyft, Waste Management & more

Check out the companies making headlines midday Monday:

Citigroup — The bank’s stock fell 1% after reporting mixed quarterly results. Citigroup’s earnings per share topped analyst expectations as the company repurchased more than $4 billion in stock. However, revenue fell amid a drag in equity-market trading.

Goldman Sachs — Shares of Goldman Sachs slid about 3% after the investment bank posted weaker-than-expected first-quarter revenue. The bank said Monday that revenue dropped 13% to $8.81 billion, below analyst’s $8.9 billion estimate. Sales of its institutional client services trading division, the bank’s biggest business, fell 18% year over year.

Levi Strauss — The jeans maker’s stock rose 1.4% after analysts at J.P. Morgan initiated it with an overweight and set a $26 year-end price target. “We view the combination of a strong tenured management team led by CEO C. Bergh and brand heritage … as a competitive advantage in expanding to a global lifestyle brand,” J. P. Morgan said in a statement.

Nokia — Nokia dropped nearly 5% after Goldman Sachs downgraded the stock to sell from neutral, citing increasing competition from companies like Samsung and Ericsson. Goldman’s estimates show Ericsson holds 29% of the global wireless networking market, Nokia and Huawei each hold 23%, while Samsung only holds 5% of the market.

Waste Management — Shares of Waste Management rose 1.6% after the company announced plans to buy smaller rival Advanced Disposal Services for about $3 billion. The top waste management service company would pay $33.15 per share in cash for Advanced Disposal, in a move to expand its footprint in the eastern United States.

Insys Therapeutics — Shares of the pharmaceutical company dropped nearly 10% after announcing CEO Saeed Motahari will leave his post. Andrew Long will be the new CEO. Motahari’s departure follows the end of closing arguments in the criminal trial of executive John Kapoor. Prosecutors say Kapoor, along with four co-defendants, bribed doctors.

Spotify Technology — Spotify dropped more than 5% after reports said Amazon is in talks to launch a free music streaming service. Billboard, citing sources familiar with the matter, reported the ecommerce giant would make the service available as soon as next week through its Echo speakers. Amazon’s move would put pressure on music-streaming giant Spotify, which has a freebie option that lets users listen to select albums.

Gogo — Shares of the in-flight internet service company soared over 13% after releasing preliminary first-quarter earnings and announcing a $900 secured notes offering. The company cited better-than-expected commercial aviation service revenue and low operating costs behind its financial gains.

Lyft — Shares of Lyft plunged 6.34% after the ride sharing company announced it will recall thousands of electric bikes in its bike-share programs in New York, Washington and San Francisco because of a braking problem. This came after riders reported “stronger than expected braking force on the front wheel.”

—CNBC’s Yun Li, Nadine El-Bawab and Jessica Bursztynsky contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: fred imbert, getty images
Keywords: news, cnbc, companies, spotify, moves, biggest, company, billion, lyft, dropped, management, waste, service, midday, sachs, stocks, shares, stock, revenue, making, fell


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Charges against ‘Empire’ actor Jussie Smollett dropped

Chicago prosecutors on Tuesday abruptly dropped criminal charges against “Empire” star Jussie Smollett, who was accused of staging a phony hate crime against himself. There had been no suggestion in recent court filings or media reports that Smollett’s case would be tossed out. Smollett had pleaded not guilty March 14, and before Tuesday’s surprise hearing was next scheduled to be in court on April 17. “This is without a doubt a whitewash of justice,” Chicago Mayor Rahm Emanuel said at a press c


Chicago prosecutors on Tuesday abruptly dropped criminal charges against “Empire” star Jussie Smollett, who was accused of staging a phony hate crime against himself. There had been no suggestion in recent court filings or media reports that Smollett’s case would be tossed out. Smollett had pleaded not guilty March 14, and before Tuesday’s surprise hearing was next scheduled to be in court on April 17. “This is without a doubt a whitewash of justice,” Chicago Mayor Rahm Emanuel said at a press c
Charges against ‘Empire’ actor Jussie Smollett dropped Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: sarah whitten, dan mangan, kamil krzaczynski, source, chicago pd
Keywords: news, cnbc, companies, smollett, jussie, men, smolletts, chicago, case, actor, emanuel, mayor, charges, thank, court, empire, dropped, told


Charges against 'Empire' actor Jussie Smollett dropped

Chicago prosecutors on Tuesday abruptly dropped criminal charges against “Empire” star Jussie Smollett, who was accused of staging a phony hate crime against himself.

Smollett, who had faced 16 counts of disorderly conduct, appeared at an emergency court hearing Tuesday morning, where the case was dismissed in exchange for the actor agreeing to forfeit his $10,000 release bond.

There had been no suggestion in recent court filings or media reports that Smollett’s case would be tossed out. Smollett had pleaded not guilty March 14, and before Tuesday’s surprise hearing was next scheduled to be in court on April 17.

“This is without a doubt a whitewash of justice,” Chicago Mayor Rahm Emanuel said at a press conference where he and police blasted the dismissal.

He said Smollett “did this all in the name of self-promotion.”

“How dare you!” Emanuel said of the 36-year-old Smollett.

The mayor said that Smollett’s alleged deception meant that future actual victims of hate crimes would be under a cloud of suspicion when they report being targeted for their race, sexual orientation or religion.

“This sends an unambiguous message that there is no accountability, and that is wrong,” Emanuel said of the case being dropped.

Smollett, who is black and gay, told Chicago police in January that he was attacked by two masked men as he was walking home around 2 a.m. The actor said the men beat him, shouted racist and homophobic comments, poured a chemical substance on him, looped a rope around his neck and then fled.

Two brothers, Ola and Abel Osundairo, were arrested in February for allegedly being connected to the attack, but later were released without charges. The Osundairos told police that Smollett wrote them a check for $3,500 to carry out the purported attack.

Chicago Police Superintendent Eddie Johnson told reporters Tuesday that police “found out about [the dismissal] when you all did.”

“Do I think justice was served? No. … They chose to hide behind secrecy in brokering a deal,” Johnson said.

But Smollett, after the case was dropped, said, “I’ve been truthful and consistent on every level since day one.”

“I would not be my mother’s son if I was capable of even one drop of what I have been accused of.”

“This has been an incredibly difficult time, honestly, one of the worst in my entire life,” he said.

“I want to thank my legal counsel from the bottom of my heart, and I would like to thank the state of Illinois for attempting to do what is right. Thank you for all the support, thank you for faith and thank you to God.”


Company: cnbc, Activity: cnbc, Date: 2019-03-26  Authors: sarah whitten, dan mangan, kamil krzaczynski, source, chicago pd
Keywords: news, cnbc, companies, smollett, jussie, men, smolletts, chicago, case, actor, emanuel, mayor, charges, thank, court, empire, dropped, told


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Cramer on the shocker from GE’s CEO: ‘You dropped a bomb on my head’

Shares of GE were sinking midmorning Wednesday, a day after Culp said at a J.P. Morgan conference that the company’s industrial free cash flow “in 2019 will be negative.” After Culp’s remarks, J.P. Morgan analyst Stephen Tusa said GE’s announcement of more trouble in 2019 was “worse than expected,” adding the firm’s price target remains $6 per share but “looks generous.” Cramer said Tusa was spot on in his note to investors about GE. But unlike Tusa, Cramer doesn’t expect GE’s stock to go back t


Shares of GE were sinking midmorning Wednesday, a day after Culp said at a J.P. Morgan conference that the company’s industrial free cash flow “in 2019 will be negative.” After Culp’s remarks, J.P. Morgan analyst Stephen Tusa said GE’s announcement of more trouble in 2019 was “worse than expected,” adding the firm’s price target remains $6 per share but “looks generous.” Cramer said Tusa was spot on in his note to investors about GE. But unlike Tusa, Cramer doesn’t expect GE’s stock to go back t
Cramer on the shocker from GE’s CEO: ‘You dropped a bomb on my head’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: berkeley lovelace jr, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, ceo, share, ges, tusa, ge, immelt, culp, dropped, executive, head, bomb, morgan, stock, cramer, jp, shocker


Cramer on the shocker from GE's CEO: 'You dropped a bomb on my head'

Shares of GE were sinking midmorning Wednesday, a day after Culp said at a J.P. Morgan conference that the company’s industrial free cash flow “in 2019 will be negative.” The stock closed down 4.7 percent Tuesday.

After Culp’s remarks, J.P. Morgan analyst Stephen Tusa said GE’s announcement of more trouble in 2019 was “worse than expected,” adding the firm’s price target remains $6 per share but “looks generous.”

Cramer said Tusa was spot on in his note to investors about GE. But unlike Tusa, Cramer doesn’t expect GE’s stock to go back to $6 per share. “I think it’ll do better than that,” the “Mad Money” host contended.

Cramer has been critical of GE in the past but placed renewed hope in Culp, saying the executive had what it takes to turn the business around. In November 2017, when GE’s stock first fell below $20 per share, Cramer said the company had a lot wrong with it and was “one of the biggest” investment mistakes of his career.

Culp, formely a GE board member and CEO of Danaher from 2000 to 2014, became General Electric chief executive back in October, after John Flannery was abruptly removed, just 14 months into the job. The GE board, at the time, grew frustrated with the slow pace of change under Flannery.

Flannery took over for then-longtime GE chief Jeff Immelt, who was forced out in 2017 after a 16-year tenure that saw the stock plummet from the Jack Welch heydays. Immelt was criticized for poor leadership decisions that left GE cash-strapped.

— CNBC’s Michael Sheetz contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: berkeley lovelace jr, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, ceo, share, ges, tusa, ge, immelt, culp, dropped, executive, head, bomb, morgan, stock, cramer, jp, shocker


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Coca-Cola shares drop after weak earnings outlook

Coca-Cola on Thursday reported quarterly earnings that were in line with analysts’ expectations for the year, but fell short in their expected earnings for 2019. Shares of the company dropped 2 percent in premarket trading. The company expects that in 2019 its earnings per share could fall or rise by 1 percent. Currency headwinds impacted fourth-quarter earnings per share by 10 percent. Excluding items, Coke earned 43 cents per share, in line with the consensus estimates from Refinitiv.


Coca-Cola on Thursday reported quarterly earnings that were in line with analysts’ expectations for the year, but fell short in their expected earnings for 2019. Shares of the company dropped 2 percent in premarket trading. The company expects that in 2019 its earnings per share could fall or rise by 1 percent. Currency headwinds impacted fourth-quarter earnings per share by 10 percent. Excluding items, Coke earned 43 cents per share, in line with the consensus estimates from Refinitiv.
Coca-Cola shares drop after weak earnings outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: amelia lucas
Keywords: news, cnbc, companies, outlook, share, weak, cocacola, reported, drop, impacted, dropped, billion, shares, earnings, 43, cents, company, coke


Coca-Cola shares drop after weak earnings outlook

Coca-Cola on Thursday reported quarterly earnings that were in line with analysts’ expectations for the year, but fell short in their expected earnings for 2019.

Shares of the company dropped 2 percent in premarket trading.

The company expects that in 2019 its earnings per share could fall or rise by 1 percent. Wall Street was forecasting Coke to earn $2.23 per share in 2019. The beverage giant earned $2.08 per share in 2018.

The Atlanta-based company last year raised its beverage prices as it battled higher import and transportation costs. Currency headwinds impacted fourth-quarter earnings per share by 10 percent.

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

Earnings per share: 43 cents vs. 43 cents expected

Revenue: $7.06 billion vs. $7.04 billion expected

Net sales dropped 6 percent to $7.06 billion, topping expectations of $7.04 billion. The company attributed the revenue decline to the impact of currency and re-franchising its bottling operations.

Sales of its sparkling soft drinks dropped 1 percent during the fourth quarter, despite its popular Coca-Cola Zero Sugar once again seeing double-digit growth. Challenging economic conditions in Argentina, Central America and other emerging markets negatively impacted those sales, the company said.

The soda giant reported fiscal fourth-quarter net income of $870 million, or 20 cents per share, up from a loss of $2.75 billion, or 65 cents per share, a year earlier. Coke said that freight costs negatively impacted its earnings this quarter.

Excluding items, Coke earned 43 cents per share, in line with the consensus estimates from Refinitiv. For fiscal year 2019, Coke is forecasting organic revenue growth of 4 percent.

This is breaking news. Please check back for updates.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: amelia lucas
Keywords: news, cnbc, companies, outlook, share, weak, cocacola, reported, drop, impacted, dropped, billion, shares, earnings, 43, cents, company, coke


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China’s foreign direct investment into the US dropped precipitously in 2018, data show

Chinese foreign direct investment into the U.S. plummeted for a second year in a row, according to new data. The 2018 figure marks a 90 percent drop from 2016 and represents the lowest level of direct investment by China since 2011, according to the group’s data. According to the data, a whopping $13 billion worth of U.S. assets were sold by Chinese investors, much of which was purchased during a 2015-2016 investment boom. Including those divestitures, Chinese net U.S. direct investment saw an $


Chinese foreign direct investment into the U.S. plummeted for a second year in a row, according to new data. The 2018 figure marks a 90 percent drop from 2016 and represents the lowest level of direct investment by China since 2011, according to the group’s data. According to the data, a whopping $13 billion worth of U.S. assets were sold by Chinese investors, much of which was purchased during a 2015-2016 investment boom. Including those divestitures, Chinese net U.S. direct investment saw an $
China’s foreign direct investment into the US dropped precipitously in 2018, data show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: uptin saiidi
Keywords: news, cnbc, companies, assets, 2018, foreign, data, direct, billion, rhodium, decline, according, chinas, chinese, investment, sale, dropped, precipitously, group


China's foreign direct investment into the US dropped precipitously in 2018, data show

Chinese foreign direct investment into the U.S. plummeted for a second year in a row, according to new data.

In 2018, Chinese FDI in the United States fell to just $4.8 billion — a massive decline from $29 billion in 2017 and $46 billion in 2016, according to independent researcher the Rhodium Group.

The 2018 figure marks a 90 percent drop from 2016 and represents the lowest level of direct investment by China since 2011, according to the group’s data.

The decline comes amid trade tensions between the U.S. and China and as Beijing adds pressure on Chinese companies to reduce their global holdings and reduce debt levels.

According to the data, a whopping $13 billion worth of U.S. assets were sold by Chinese investors, much of which was purchased during a 2015-2016 investment boom. Including those divestitures, Chinese net U.S. direct investment saw an $8 billion decline in 2018, according to Rhodium Group.

In fact, the group said there’s another $20 billion in divestitures that’s still pending.

In recent months, China’s biggest private companies have put assets up for sale: Anbang has put up a number of its U.S. luxury hotels for sale, HNA Group has listed billions of dollars worth of assets for sale, Fosun International is looking to sell a stake in its New York property, 28 Liberty, and Dalian Wanda Group is exploring a sale of its stake in Legendary Entertainment.

Yet as direct investment dramatically falls, venture capital funding from Chinese sources into the U.S. hit a new record high of $3.1 billion, Rhodium said.

Meanwhile, Chinese investors continue to be the top foreign buyers in terms of both units and dollar volume of U.S. residential housing, for the past six years, according to the National Association of Realtors. That comes amid sustained interest in the American market from middle-class Chinese citizens.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: uptin saiidi
Keywords: news, cnbc, companies, assets, 2018, foreign, data, direct, billion, rhodium, decline, according, chinas, chinese, investment, sale, dropped, precipitously, group


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