Stocks set to open mixed amid weak data, US-China trade talks

U.S. stock futures are pointing to a flat open on the final trading day of the week as investors digest soft economic data and monitor developing trade talks with China. ET, Dow futures rose 7 points, indicating a flat open points. On Thursday, stocks fell as traders reacted to weak economic data, fueling fears of a potential slowdown in the world’s largest economy. The department also said core capital goods orders fell 0.7 percent while economists polled by Reuters expected a gain of 0.2 perce


U.S. stock futures are pointing to a flat open on the final trading day of the week as investors digest soft economic data and monitor developing trade talks with China. ET, Dow futures rose 7 points, indicating a flat open points. On Thursday, stocks fell as traders reacted to weak economic data, fueling fears of a potential slowdown in the world’s largest economy. The department also said core capital goods orders fell 0.7 percent while economists polled by Reuters expected a gain of 0.2 perce
Stocks set to open mixed amid weak data, US-China trade talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: ryan browne
Keywords: news, cnbc, companies, polled, mixed, level, open, data, orders, rose, talks, fell, stocks, trade, points, futures, uschina, weak, amid, set


Stocks set to open mixed amid weak data, US-China trade talks

U.S. stock futures are pointing to a flat open on the final trading day of the week as investors digest soft economic data and monitor developing trade talks with China.

As of 2:35 a.m. ET, Dow futures rose 7 points, indicating a flat open points. S&P 500 and Nasdaq futures traded barely above the flatline.

On Thursday, stocks fell as traders reacted to weak economic data, fueling fears of a potential slowdown in the world’s largest economy.

Durable goods orders for December rose 1.2 percent, the Commerce Department said. The department also said core capital goods orders fell 0.7 percent while economists polled by Reuters expected a gain of 0.2 percent.

The Philadelphia Federal Reserve business index fell to negative 4.1 in February — its lowest level since May 2016 — from 17 in January. Economists polled by Dow Jones expected a print of 14.

Meanwhile, market players also monitored the latest round of negotiations between Washington and Beijing. Optimism has risen over the chances of both countries securing a deal to end their protracted trade war, but some experts say the most difficult part is yet to come as high level talks continue into Friday.

“There’s obviously an incentive for both sides to reach a deal,” James Athey, senior investment manager at Aberdeen Standard Investments, told CNBC “Squawk Box Europe” on Friday.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: ryan browne
Keywords: news, cnbc, companies, polled, mixed, level, open, data, orders, rose, talks, fell, stocks, trade, points, futures, uschina, weak, amid, set


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Malaysia’s consumer prices fall for the first time since 2009

Malaysia’s consumer prices fell for the first time in nearly a decade in January, on the back of lower fuel costs, but economists say deflation is unlikely to be sustained and would not lead to any change in monetary policy. The consumer price index fell 0.7 percent in January from a year earlier, the first decline since November 2009 when it fell 0.1 percent. The transport sector index fell 7.8 percent from a year earlier in January, data from the Statistics Department showed. The decline, howe


Malaysia’s consumer prices fell for the first time in nearly a decade in January, on the back of lower fuel costs, but economists say deflation is unlikely to be sustained and would not lead to any change in monetary policy. The consumer price index fell 0.7 percent in January from a year earlier, the first decline since November 2009 when it fell 0.1 percent. The transport sector index fell 7.8 percent from a year earlier in January, data from the Statistics Department showed. The decline, howe
Malaysia’s consumer prices fall for the first time since 2009 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: goh seng chong, bloomberg, getty images
Keywords: news, cnbc, companies, 2009, inflation, unlikely, prices, fall, malaysias, bank, fell, malaysia, tax, consumer, decline, index, monetary


Malaysia's consumer prices fall for the first time since 2009

Malaysia’s consumer prices fell for the first time in nearly a decade in January, on the back of lower fuel costs, but economists say deflation is unlikely to be sustained and would not lead to any change in monetary policy.

The consumer price index fell 0.7 percent in January from a year earlier, the first decline since November 2009 when it fell 0.1 percent. A Reuters poll had forecast a drop of 0.2 percent.

Price pressures have moderated since the government withdrew an unpopular consumption tax in June 2018 and reinstated a narrower sales and services tax (SST) three months later.

Annual inflation in November and December was 0.2 percent, matching the rate in August when it hit a three-and-a-half-year low.

But the country’s central bank is not expected to cut rates as inflation was likely to pick up in the second quarter of the year, economists said.

January’s decline in the CPI index was driven mostly by a sharp drop in retail fuel prices, after a Malaysian government decision to switch to a weekly managed float mechanism and as global oil prices fell during the month.

“This is probably just temporary and once the base effects subside, we should expect prices to revert back upwards,” said Julia Goh, economist at UOB in Kuala Lumpur.

The transport sector index fell 7.8 percent from a year earlier in January, data from the Statistics Department showed.

The decline, however, was offset by higher prices of food, restaurants and hotels, and education.

The central bank has said Malaysia does not face serious deflationary pressures.

Headline inflation, which came in at 1 percent in 2018, was likely to average higher this year, Bank Negara Malaysia said last week.

“If external conditions deteriorate further, then there is room for monetary easing but that is unlikely to happen this year,” said Irvin Seah, senior economist at DBS in Singapore.


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: goh seng chong, bloomberg, getty images
Keywords: news, cnbc, companies, 2009, inflation, unlikely, prices, fall, malaysias, bank, fell, malaysia, tax, consumer, decline, index, monetary


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Australia’s Crown Resorts stung by drop in Chinese spending, shares slide

Australia’s biggest casino company Crown Resorts reported on Wednesday a sharp decline in spending by wealthy Chinese tourists at its properties, pushing its shares down in their biggest one-day fall in more than two years. Turnover from “VIPs” — largely Chinese tourists on package holidays — fell 12 percent compared to a 16 percent rise in the year-ago period. The decline shows the far-reaching effects of a cooling in Chinese spending that has already driven exporters like Australian vitamin ma


Australia’s biggest casino company Crown Resorts reported on Wednesday a sharp decline in spending by wealthy Chinese tourists at its properties, pushing its shares down in their biggest one-day fall in more than two years. Turnover from “VIPs” — largely Chinese tourists on package holidays — fell 12 percent compared to a 16 percent rise in the year-ago period. The decline shows the far-reaching effects of a cooling in Chinese spending that has already driven exporters like Australian vitamin ma
Australia’s Crown Resorts stung by drop in Chinese spending, shares slide Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: scott barbour, getty images
Keywords: news, cnbc, companies, stung, tourists, profit, shares, china, resorts, million, fell, slide, chinese, drop, biggest, australias, vip, crown, spending, company


Australia's Crown Resorts stung by drop in Chinese spending, shares slide

Australia’s biggest casino company Crown Resorts reported on Wednesday a sharp decline in spending by wealthy Chinese tourists at its properties, pushing its shares down in their biggest one-day fall in more than two years.

Crown, which is owned 47 percent by billionaire James Packer, also posted a weaker than expected profit for the six months to December. Turnover from “VIPs” — largely Chinese tourists on package holidays — fell 12 percent compared to a 16 percent rise in the year-ago period.

“People at the premium end have been coming to the property in the same numbers but spending less,” said Chief Financial Officer Ken Barton on an earnings call.

“We’re seeing casual restaurants doing better than premium restaurants,” he added.

The decline shows the far-reaching effects of a cooling in Chinese spending that has already driven exporters like Australian vitamin maker Blackmores to lower profit guidance and iPhone maker Apple to issue a revenue warning.

That has been against the backdrop of a China-U.S. trade war and a Sino-Australian diplomatic dispute over accusations of undue political interference.

Shares of Crown fell as much as 6.5 percent on Wednesday, their biggest daily percentage drop since October 2016 when 18 of its staff were arrested in China for breaking local laws by selling gambling trips there. The broader market was down 0.2 percent.

“As a destination for Chinese money, particularly on the discretionary side, we have been putting up a fair barrier,” said James McGlew, executive director of corporate stockbroking at Argonaut Ltd.

“There’s clearly a mood in China that Australia is a little on the nose. That has to feed through.”

Since the China arrests, Crown has pulled back from its Asia expansion plans and instead relied on high-rolling Chinese tourists at home to grow profit.

The company is counting on the VIP market to pay for a new A$2.2 billion casino on the Sydney waterfront.

But while tourist numbers are up — 1.4 million Chinese tourists visited Australia in 2018, up 13 percent — the amount they are spending is in decline, says Crown.

“The new Sydney development should help … but if VIP is weak because China is slowing further, the initial earnings contribution will be weak too once it opens,” said Nathan Bell, a portfolio manager at InvestSmart.

Gambling revenue in the Chinese island of Macau, the world’s biggest casino destination, fell in January for the first time in more than two years partly due to slowing economic growth and the effects of trade tensions.

Crown gave no outlook on Wednesday for its VIP business.

The company said normalised net profit, which removes variance in win rates, grew less than 1 percent in the half-year to A$194.1 million ($139 million). Pre-tax profit came in at A$432.5 million compared with analyst forecasts of A$450 million.

Normalised revenue fell 1.2 percent, and the company kept its interim dividend steady at 30 Australian cents.


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: scott barbour, getty images
Keywords: news, cnbc, companies, stung, tourists, profit, shares, china, resorts, million, fell, slide, chinese, drop, biggest, australias, vip, crown, spending, company


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dollar slips on US-China trade hopes, Swedish crown sags

“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45. Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year. The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a


“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45. Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year. The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a
Dollar slips on US-China trade hopes, Swedish crown sags Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt cardy i getty images
Keywords: news, cnbc, companies, sags, swedish, uschina, hopes, crown, euro, data, showed, currencies, inflation, slips, currency, fell, major, dollar, trade


Dollar slips on US-China trade hopes, Swedish crown sags

The dollar on Tuesday fell against a basket of other currencies as traders scaled back their safe-haven greenback holdings on optimism that a fresh round of talks between China and the United States would help resolve their trade conflict.

The dollar index hit a near two-month peak on Friday after last week’s set of negotiations in Beijing failed to result in a deal, although officials from both sides said the talks had produced progress on contentious issues.

“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. “The dollar should come under pressure as it loses some safe-haven appeal.”

The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45.

On Friday, it hit 97.368, which was the highest since Dec. 17. U.S. financial markets were closed on Monday for the Presidents Day holiday.

Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year.

Last week, the crown rose after Sweden’s central bank broke with growing caution among major monetary-policy makers, saying it would stick to its plan to raise rates in the second half of 2019.

The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a report showed inflation slowed in January.

Against the euro, it was headed for its biggest daily decline in more than 15 months. It touched 10.621, its weakest since September.

The euro appreciated against the dollar on trade optimism. It reversed earlier losses after data showed Italian industrial orders dropped 5.3 percent in December from a year earlier.

Euro zone bond yields, notably those of German bunds, fell amid the cloudy European economic outlook, weighing on the euro. When European Central Bank policymakers meet on March 7, they are expected to lower growth and inflation projections.

The euro was up 0.37 percent at $1.135, holding above a three-month low of $1.1234 set last week.

The single currency, however, fell against the British pound as data showed domestic workers’ salaries held at its fastest pace in a decade in late 2018.

The euro was 0.62 percent lower at 86.99 pence, while the pound was up 1.08 percent at $1.306. The sterling’s gains were limited ahead of British Prime Minister’s Theresa May’s meeting with the EU to find a way to get their Brexit deal through the UK parliament.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt cardy i getty images
Keywords: news, cnbc, companies, sags, swedish, uschina, hopes, crown, euro, data, showed, currencies, inflation, slips, currency, fell, major, dollar, trade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken


The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally. Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Macken
Global miner BHP Group first-half profit falls 8% as copper earnings slump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax


Global miner BHP Group first-half profit falls 8% as copper earnings slump

The world’s biggest miner BHP Group said on Tuesday its first-half profit fell 8 percent as copper earnings slumped because of declining ore quality at its Escondida mine and a number of production outages globally.

Underlying profit from continuing operations for the six months that ended on Dec. 31 fell to $4.03 billion from $4.40 billion a year ago, the company said in a statement. That missed consensus estimates compiled by Vuma Financial of $4.209 billion.

“Profit is often the most difficult thing for people to forecast. We have had quite a number of tax settlements in the half and that changes our tax bill somewhat,” Andrew Mackenzie, CEO of BHP Group, told CNBC’s Karen Tso on Tuesday.

“I would say, apart from earnings, this in line or slightly better in line than what peopled forecasted,” Mackenzie said.

Underlying profit is watched by analysts and investors as a measure of the company’s performance exclusive of one-time gains and losses.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: cnbccom with reuters, peter hendrie, photographers choice, getty images
Keywords: news, cnbc, companies, number, miner, slump, firsthalf, mackenzie, copper, line, group, bhp, profit, earnings, billion, global, fell, falls, tax


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

If you invested $1,000 in Coca-Cola 10 years ago, here’s how much you’d have now

Coca-Cola, the parent company of popular soft drink Coke, has proven enduringly successful over the years: It ranked No. If you invested in the company 10 years ago, that decision could have paid off. According to CNBC calculations, a $1,000 investment in Coca-Cola in 2009 would be worth more than $2,800 as of Feb. 15, 2019. CNBC: Coca-Cola stock as of Feb. 15, 2019Shares fell Thursday and were on track for their worst day since the Great Recession. The company’s stock price fell 7.5 percent and


Coca-Cola, the parent company of popular soft drink Coke, has proven enduringly successful over the years: It ranked No. If you invested in the company 10 years ago, that decision could have paid off. According to CNBC calculations, a $1,000 investment in Coca-Cola in 2009 would be worth more than $2,800 as of Feb. 15, 2019. CNBC: Coca-Cola stock as of Feb. 15, 2019Shares fell Thursday and were on track for their worst day since the Great Recession. The company’s stock price fell 7.5 percent and
If you invested $1,000 in Coca-Cola 10 years ago, here’s how much you’d have now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: shawn m carter, caiaimage robert daly, getty images
Keywords: news, cnbc, companies, invested, brands, 1000, soda, youd, stock, coke, squawk, growth, heres, cocacola, need, fell, ago, company


If you invested $1,000 in Coca-Cola 10 years ago, here's how much you'd have now

Coca-Cola, the parent company of popular soft drink Coke, has proven enduringly successful over the years: It ranked No. 6 on Forbes’ list of the world’s most valuable brands in 2018, with a whopping $57.3 billion value.

The company has gotten its share of celebrity endorsements, too: Warren Buffett says he’s a “Coke loyalist,” and Berkshire Hathaway is a longstanding investor.

If you invested in the company 10 years ago, that decision could have paid off. According to CNBC calculations, a $1,000 investment in Coca-Cola in 2009 would be worth more than $2,800 as of Feb. 15, 2019.

While the company’s stock price has been largely steady over the past decade, though, any individual stock can over- or underperform, and past returns do not predict future results.

CNBC: Coca-Cola stock as of Feb. 15, 2019

Shares fell Thursday and were on track for their worst day since the Great Recession. The company’s stock price fell 7.5 percent and its net sales fell 6 percent. (Net sales still topped expectations.)

Chief executive officer James Quincey told analysts that currency fluctuations, Federal Reserve interest rate hikes and changing tax rates could be responsible for the stock’s slide. “Clearly, that is leading to an [earnings per share] growth that is not what we aspire to,” he said.

He expressed similar concerns at the 49th World Economic Forum in Davos: “I think we are in the phase of 2019 where we are likely to see a little less growth. It is going to be a slightly tougher year in macroeconomic terms and we need to work our way through it.”

Some analysts see problems facing the traditional soda market overall. Ivan Feinseth, of financial firm Tigress Financial Partners, said on CNBC’s “Squawk Box,” that “there is no growth in carbonated soda,” and that brands like Coke and longtime rival Pepsi need to get creative.

They’ll need to “continue to develop or acquire other alternatives,” Feinseth explains, like sparking water, flavored seltzers, teas and sports drinks, since “that’s where the growth is, in the niche beverage markets.”

Coca-Cola does offer products besides sodas, and it continues to diversify its portfolio. The company made six new acquisitions in 2018, among them coffee chain Costa Coffee. They also own popular beverage brands Dasani, Minute Maid and Powerade.

And Quincey said on CNBC’s “Squawk on the Street” that the company will take time to “absorb” the investments it made last year.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: shawn m carter, caiaimage robert daly, getty images
Keywords: news, cnbc, companies, invested, brands, 1000, soda, youd, stock, coke, squawk, growth, heres, cocacola, need, fell, ago, company


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China’s January trade data come in much stronger than expected

China’s closely watched trade surplus with the U.S. fell to $27.3 billion in January, from $29.87 billion in December. In January, China’s exports to the U.S. fell 2.4 percent from a year ago, while imports from its trade war opponent tanked 41.2 percent over the same period. Das told CNBC he still expected China’s economy to bottom in the first half of the year. In fact, seasonally adjust trade data will show that even though exports and imports both did better than expected in January, they st


China’s closely watched trade surplus with the U.S. fell to $27.3 billion in January, from $29.87 billion in December. In January, China’s exports to the U.S. fell 2.4 percent from a year ago, while imports from its trade war opponent tanked 41.2 percent over the same period. Das told CNBC he still expected China’s economy to bottom in the first half of the year. In fact, seasonally adjust trade data will show that even though exports and imports both did better than expected in January, they st
China’s January trade data come in much stronger than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: huileng tan, vcg, getty images
Keywords: news, cnbc, companies, chinese, stronger, fell, evanspritchard, imports, china, exports, expected, data, trade, come, chinas


China's January trade data come in much stronger than expected

China’s closely watched trade surplus with the U.S. fell to $27.3 billion in January, from $29.87 billion in December.

In January, China’s exports to the U.S. fell 2.4 percent from a year ago, while imports from its trade war opponent tanked 41.2 percent over the same period.

Despite the upbeat data, analysts say data from China in the first two months of the year must be treated with caution due to business distortions caused by the timing of the week-long Lunar New Year public holiday, which fell in mid-February in 2018 but started on Feb. 4 this year.

Mixo Das, Asia equity strategist at J.P. Morgan, said he would not read too much into a single data point, especially with the presence of such distortions like the national holidays, cyclical trends and ongoing structural changes.

Das told CNBC he still expected China’s economy to bottom in the first half of the year.

“Even if the latest recovery in trade is genuine, the outlook for this year is still downbeat,” concurred Julian Evans-Pritchard, senior China Economist at Capital Economics.

That is due to an expected slowing in global growth that would hit Chinese exports, as well as cooling demand at home, Evans-Pritchard wrote in a note Thursday.

In fact, seasonally adjust trade data will show that even though exports and imports both did better than expected in January, they still remained weaker than a few months ago, he added.

“For now, then, the broad trend in shipments still appears to be pointing down,” Evans-Pritchard said.

Thursday’s data release comes as American and Chinese trade negotiators began a new round of talks in Beijing this week as the world’s two largest economies renewed efforts to reach a deal.

Officials from both countries are trying to reach a deal ahead of a March 1 deadline when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday, the South China Morning Post reported.

—CNBC’s Fred Imbert and Reuters contributed to this report.

Clarification: This article has been updated to clarify that China on Thursday reported exports and imports data for January that easily topped expectations.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: huileng tan, vcg, getty images
Keywords: news, cnbc, companies, chinese, stronger, fell, evanspritchard, imports, china, exports, expected, data, trade, come, chinas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves midday: Avis Budget Group, Pfizer, Tesla & more

Check out the companies making headlines midday on Monday:Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months. Electronic Arts — The video-game maker climbed more than 5 percent after Bank of America Merrill Lynch upgraded it to buy from neutral. Loews Corp — Shares of the hospitality company fell 6.2 percent as Loews rep


Check out the companies making headlines midday on Monday:Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months. Electronic Arts — The video-game maker climbed more than 5 percent after Bank of America Merrill Lynch upgraded it to buy from neutral. Loews Corp — Shares of the hospitality company fell 6.2 percent as Loews rep
Stocks making the biggest moves midday: Avis Budget Group, Pfizer, Tesla & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, shares, midday, moves, biggest, stocks, upgraded, report, citing, target, tesla, buy, fell, pfizer, group, upside, making, avis, budget, tire, company


Stocks making the biggest moves midday: Avis Budget Group, Pfizer, Tesla & more

Check out the companies making headlines midday on Monday:

Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months.

Electronic Arts — The video-game maker climbed more than 5 percent after Bank of America Merrill Lynch upgraded it to buy from neutral. Bank of America also hiked its price target on Electronic Arts to $110 a share from $95.

Loews Corp — Shares of the hospitality company fell 6.2 percent as Loews reported a loss of 53 cents a share for its fourth-quarter report. Lowes revenue in the quarter fell to $3.3 billion, down over $250 million from the same period a year ago.

Pfizer — One of the world’s largest pharmaceutical companies slid 1.5 percent Monday after its Japanese subsidiary recalled hundreds of thousands of tablets of a drug for high blood pressure. More than 763,000 tablets of the drug Amvalo, manufactured from April to July in Mylan, are the subject of recall, Pfizer Japan said in a statement.

Goodyear Tire & Rubber Company — Shares of the he multinational tire manufacturing company dropped more than 3.5 percent in midday trading after two brokerages downgraded the stock. Argus Research cut the equity to a hold rating citing reduced earnings estimates and near-term cost headwinds.

Tesla – The electric carmaker rallied after Canaccord Genuity upgraded Tesla to buy from hold, with a new price target that represents a 47 percent upside for the stock. The firm predicted more electric vehicle penetration and the company getting closer to building an affordable car for the masses.

Activision Blizzard — The video gaming giant fell 7 percent Monday following a Bloomberg report that it plans to announce job cuts “in the hundreds” this week. The layoffs would be part of a restructuring effort as the company faces sluggish sales, Bloomberg reported, citing unnamed sources familiar with the matter.

Norfolk Southern Corp. — The railroad holding company surged 4 percent after outlining a strategic plan that focuses on increased productivity and revenue growth at its investor conference. CEO James Squires said in a press release that the lower costs and more efficiency would “deliver stronger margins.”

Avaya Holdings — The multinational technology company that specializes in business communications, dropped 11.74 percent following its release of weaker-than-expected earnings and revenues for their first-quarter. The company also named Kieran McGrath as their new CFO, effective February 15, 2019.

—CNBC’s Tom Franck, Kate Rooney, Nadine El-Bawab and Michael Sheetz contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, shares, midday, moves, biggest, stocks, upgraded, report, citing, target, tesla, buy, fell, pfizer, group, upside, making, avis, budget, tire, company


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Gold falls to 1-week low on stronger dollar, but holds above $1,300 level

Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level. Spot gold fell 0.2 percent to $1,303.64 per ounce by 0341 GMT, after touching its lowest since Jan. 29 at $1,302.84. The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high. “But, if the dollar finds haven demand, th


Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level. Spot gold fell 0.2 percent to $1,303.64 per ounce by 0341 GMT, after touching its lowest since Jan. 29 at $1,302.84. The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high. “But, if the dollar finds haven demand, th
Gold falls to 1-week low on stronger dollar, but holds above $1,300 level Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: getty images
Keywords: news, cnbc, companies, 1week, falls, stronger, fell, economic, bank, concerns, low, dollar, growth, rate, gold, level, 1300, shutdown, possible, holds


Gold falls to 1-week low on stronger dollar, but holds above $1,300 level

Gold fell to a more than one-week low on Thursday, pressured by a stronger dollar, but worries over slowing global economic growth and the specter of another U.S. government shutdown kept the safe-haven metal above the key $1,300 level.

Spot gold fell 0.2 percent to $1,303.64 per ounce by 0341 GMT, after touching its lowest since Jan. 29 at $1,302.84. Prices fell 0.7 percent in the previous session in their biggest one-day drop since Jan. 18.

U.S. gold futures were down 0.5 percent at $1,307.30.

A possible rate cut by the Australian central bank stokes global slowdown concerns and the U.S. dollar has gained on safe-haven interest, pulling down old, said Ilya Spivak, a senior currency strategist with DailyFx.

Australia’s central bank on Wednesday opened the door to a possible rate cut as it acknowledged growing economic risks in a remarkable shift from its long-standing tightening bias that sent the local dollar sliding.

The dollar index, a gauge of its value versus six major peers, was hovering close to its two-week high.

A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.

Last week, the U.S. Federal Reserve said it would be patient on further rate hikes, while the European Central Bank sounded less certain that it would start tightening policy later this year.

The Bank of England looks set to trim its forecasts for Britain’s already sluggish growth on Thursday, reflecting the approach of a still uncertain Brexit in just 50 days’ time and a slowdown in many of the world’s big economies.

“Bullion appeal though demonstrating for pricing weakness in the current term, will hold an integral role in 2019 amidst heightened geopolitical and economic uncertainties,” analysts at Phillip Futures wrote in a note.

Wall Street’s benchmark S&P 500 slipped amid concerns over growth, disappointing earnings reports and another possible U.S. government shutdown in the wake of President Donald Trump’s State of the Union address.

“If there is another shutdown that would stoke concerns about growth which might fuel demand for haven assets like bonds, and gold might gain due to falling treasury yields,” Spivak of DailyFx said.

“But, if the dollar finds haven demand, then gold’s ability to move higher is going to be limited.”

Reflecting lackluster sentiment, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell for a fourth straight session on Wednesday.

Liquidity in gold markets is expected to remain light in Asian hours with China closed for the Lunar New Year holiday this week.

In other metals, palladium rose 0.4 percent to $1,377.50 per ounce.

Silver was steady at $15.66, and platinum slipped 0.2 percent to $801.50.


Company: cnbc, Activity: cnbc, Date: 2019-02-07  Authors: getty images
Keywords: news, cnbc, companies, 1week, falls, stronger, fell, economic, bank, concerns, low, dollar, growth, rate, gold, level, 1300, shutdown, possible, holds


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post