JP Morgan says Asian shares will go up as risks come down

Investors can expect the “best” returns from Asian stocks in the first half of 2019 as negative sentiment from last year subsides, a J.P. Morgan strategist said on Thursday. I think the best part of the returns you’ll have in Asian equities will be in the first half,” Mixo Das, Asia equity strategist at J.P. Morgan, told CNBC’s “Street Signs.” Those concerns led to a sell-off in global markets, with stocks in Greater China, Japan and South Korea among the biggest losers in Asia. The strategist a


Investors can expect the “best” returns from Asian stocks in the first half of 2019 as negative sentiment from last year subsides, a J.P. Morgan strategist said on Thursday. I think the best part of the returns you’ll have in Asian equities will be in the first half,” Mixo Das, Asia equity strategist at J.P. Morgan, told CNBC’s “Street Signs.” Those concerns led to a sell-off in global markets, with stocks in Greater China, Japan and South Korea among the biggest losers in Asia. The strategist a
JP Morgan says Asian shares will go up as risks come down Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: yen nee lee
Keywords: news, cnbc, companies, asian, half, shares, risks, stocks, growth, best, 2019, strategist, investors, das, china, jp, morgan, trade, come


JP Morgan says Asian shares will go up as risks come down

Investors can expect the “best” returns from Asian stocks in the first half of 2019 as negative sentiment from last year subsides, a J.P. Morgan strategist said on Thursday.

“We’re expecting more upside in the first half … I think the best part of the returns you’ll have in Asian equities will be in the first half,” Mixo Das, Asia equity strategist at J.P. Morgan, told CNBC’s “Street Signs.”

At end of last year, investors were worried about multiple factors that could pressure stocks, including a potential recession in the U.S., slowing growth in China and the tariff fight between the world’s two largest economies. Those concerns led to a sell-off in global markets, with stocks in Greater China, Japan and South Korea among the biggest losers in Asia.

But many of those events that investors feared could happen this year have not turned out to be as bad as expected, Das noted.

“At we get more clarity on the U.S.-China trade deal, China’s growth bottoming out at some time in [the first] half, and the U.S. economy averting a recession in 2019 — all these things essentially will reinforce that risks are coming down and that’s why equities are going to be going higher in the first half,” he added.

The strategist added that he prefers “value stocks” — those trading a price below where investors think it should be — in the first half of this year. He also favors shares in China, Singapore and the Philippines.

But growth in company earnings could weaken in the second half of the year, partly due to disruptions on the trade front, which has started to hit economic activity worldwide, said Das.

With little good news to lift regional stock prices beyond the first six months of the year, the strategist added that “growth stocks” — firms seen to have a lot of potential to expand — would be his preferred picks. Das said such an environment could make growth stocks “the best performers over the course of 2019.”


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: yen nee lee
Keywords: news, cnbc, companies, asian, half, shares, risks, stocks, growth, best, 2019, strategist, investors, das, china, jp, morgan, trade, come


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

7 out of 10 people think they’ll be better off financially next year

More people are feeling optimistic about their own finances, according to Gallup. In a recent poll, nearly 7 out of 10 participants said they expected to be “better off” financially by this time next year. Half of respondents say they are in better financial shape than a year ago. This is the first time since 2007 that at least half of the public has reported a generally positive state of current finances, according to the analytics company. Lydia Saad, director of U.S. Social Research for Gallu


More people are feeling optimistic about their own finances, according to Gallup. In a recent poll, nearly 7 out of 10 participants said they expected to be “better off” financially by this time next year. Half of respondents say they are in better financial shape than a year ago. This is the first time since 2007 that at least half of the public has reported a generally positive state of current finances, according to the analytics company. Lydia Saad, director of U.S. Social Research for Gallu
7 out of 10 people think they’ll be better off financially next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jessica bursztynsky, tara moore, getty images, -lydia saad, director of us social research for gallup
Keywords: news, cnbc, companies, finances, think, surveyed, social, financial, financially, better, half, state, unemployment, theyll, gallup, according


7 out of 10 people think they'll be better off financially next year

More people are feeling optimistic about their own finances, according to Gallup.

In a recent poll, nearly 7 out of 10 participants said they expected to be “better off” financially by this time next year. The company surveyed 1,017 U.S. adults by phone in January.

This level of optimism hasn’t been seen in 16 years, according to Gallup. Half of respondents say they are in better financial shape than a year ago.

This is the first time since 2007 that at least half of the public has reported a generally positive state of current finances, according to the analytics company.

Lydia Saad, director of U.S. Social Research for Gallup, said Americans’ financial confidence follows national economic conditions — good GDP growth, and low unemployment and inflation.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jessica bursztynsky, tara moore, getty images, -lydia saad, director of us social research for gallup
Keywords: news, cnbc, companies, finances, think, surveyed, social, financial, financially, better, half, state, unemployment, theyll, gallup, according


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Yelp Q4 earnings 2018

Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and “mid-teens revenue growth on an compound annual growth basis from 2019 to 2023.” The company also announced three new board members. On that day, they will replace cu


Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and “mid-teens revenue growth on an compound annual growth basis from 2019 to 2023.” The company also announced three new board members. On that day, they will replace cu
Yelp Q4 earnings 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: lauren feiner, jin lee, bloomberg, getty images
Keywords: news, cnbc, companies, program, million, 2018, vs, members, yelp, earnings, announced, share, half, revenue, board, q4


Yelp Q4 earnings 2018

Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share.

Here are the numbers Yelp posted compared to analyst expectations:

Earnings per share: $0.37 per share vs. estimate of $0.10 per share, per Refinitiv

Revenue: $244 million vs. estimate of $241 million, per Refinitiv

Yelp’s board had previously authorized a $250 million share repurchase program but announced Wednesday that the board is doubling the buyback program to a total of $500 million.

Yelp pointed to strategies that it believes will increase its shareholder value, including expanding business offerings and continuing and seeking effective partnerships like the one it has with Grubhub. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and “mid-teens revenue growth on an compound annual growth basis from 2019 to 2023.”

The company also announced three new board members. Twilio COO George Hu, Stripes Group Operating Partner and former Starbucks CMO and CPO Sharon Rothstein and serial HomeAway co-founder Brian Sharples were appointed to the board and will begin their terms on March 1. On that day, they will replace current board members Geoff Donaker, Jeremy Levine and Peter Fenton, Yelp said.

Watch: GrubHub CEO: ‘Eat 24’ a game changer in food delivery


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: lauren feiner, jin lee, bloomberg, getty images
Keywords: news, cnbc, companies, program, million, 2018, vs, members, yelp, earnings, announced, share, half, revenue, board, q4


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Yelp Q4 earnings 2018

Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and “mid-teens revenue growth on an compound annual growth basis from 2019 to 2023.” The company also announced three new board members. On that day, they will replace cu


Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and “mid-teens revenue growth on an compound annual growth basis from 2019 to 2023.” The company also announced three new board members. On that day, they will replace cu
Yelp Q4 earnings 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: lauren feiner, jin lee, bloomberg, getty images
Keywords: news, cnbc, companies, program, million, 2018, vs, members, yelp, earnings, announced, share, half, revenue, board, q4


Yelp Q4 earnings 2018

Yelp shares jumped as much as 10 percent after releasing its earnings report Wednesday where it announced it is increasing its share buyback by $250 million. The company handily beat analyst expectations on both revenue and earnings per share.

Here are the numbers Yelp posted compared to analyst expectations:

Earnings per share: $0.37 per share vs. estimate of $0.10 per share, per Refinitiv

Revenue: $244 million vs. estimate of $241 million, per Refinitiv

Yelp’s board had previously authorized a $250 million share repurchase program but announced Wednesday that the board is doubling the buyback program to a total of $500 million.

Yelp pointed to strategies that it believes will increase its shareholder value, including expanding business offerings and continuing and seeking effective partnerships like the one it has with Grubhub. Yelp said it believes it will achieve stronger revenue half in the later half of 2019 and “mid-teens revenue growth on an compound annual growth basis from 2019 to 2023.”

The company also announced three new board members. Twilio COO George Hu, Stripes Group Operating Partner and former Starbucks CMO and CPO Sharon Rothstein and serial HomeAway co-founder Brian Sharples were appointed to the board and will begin their terms on March 1. On that day, they will replace current board members Geoff Donaker, Jeremy Levine and Peter Fenton, Yelp said.

Watch: GrubHub CEO: ‘Eat 24’ a game changer in food delivery


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: lauren feiner, jin lee, bloomberg, getty images
Keywords: news, cnbc, companies, program, million, 2018, vs, members, yelp, earnings, announced, share, half, revenue, board, q4


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Apple subscription news service would reportedly split revenue 50-50

Apple is planning an all-you-can-read subscription news service in partnership with publishers, according to a report by The Wall Street Journal. Apple would bundle news content from across media outlets then keep about half the revenue, the report says. The service would be a quick way to monetize Apple’s News app, and would likely bolster the company’s services revenue at a time when hardware sales are slowing. For instance, the Wall Street Journal charges more than $20 a month for various dig


Apple is planning an all-you-can-read subscription news service in partnership with publishers, according to a report by The Wall Street Journal. Apple would bundle news content from across media outlets then keep about half the revenue, the report says. The service would be a quick way to monetize Apple’s News app, and would likely bolster the company’s services revenue at a time when hardware sales are slowing. For instance, the Wall Street Journal charges more than $20 a month for various dig
Apple subscription news service would reportedly split revenue 50-50 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: sara salinas, jason lee
Keywords: news, cnbc, companies, revenue, subscription, report, street, service, publishers, half, wall, journal, split, services, apple, 5050, reportedly


Apple subscription news service would reportedly split revenue 50-50

Apple is planning an all-you-can-read subscription news service in partnership with publishers, according to a report by The Wall Street Journal. Apple would bundle news content from across media outlets then keep about half the revenue, the report says.

The service would be a quick way to monetize Apple’s News app, and would likely bolster the company’s services revenue at a time when hardware sales are slowing. But it’ll be a tricky sale for news publishers who are increasingly facing tighter profit margins.

The plan would involve a paid tier of the Apple News app that would cost about $10 per month and include news stories that are currently hidden behind publishers’ paywalls. Apple would keep half of the fees, and the other half would be divided among publishers based on how much time readers spent reading each outlet, the report says.

The deal would offer publishers significantly less than they make through their own subscription services today. For instance, the Wall Street Journal charges more than $20 a month for various digital subscriptions.

Apple is also developing a new video service, CNBC reported in October. The company has been shifting toward recurring revenue schemes as iPhone sales shrink. Goldman Sachs separately this week said a bundle could drive growth in Apple’s services segment.

Read the full Wall Street Journal report.

WATCH: Goldman’s Rod Hall: Apple has its work cut out for it in services


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: sara salinas, jason lee
Keywords: news, cnbc, companies, revenue, subscription, report, street, service, publishers, half, wall, journal, split, services, apple, 5050, reportedly


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tariffs take toll on whiskey exports in last half of 2018

Retaliatory tariffs caused a sharp downturn in American whiskey exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday. Exports to some key overseas markets gyrated wildly last year for producers of bourbon, Tennessee whiskey and rye whiskey. In the first half of 2018, American whiskey exports to the EU surged by 33 percent, it said. “That suggests that the tariffs are starting to have a measureable impact on Ameri


Retaliatory tariffs caused a sharp downturn in American whiskey exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday. Exports to some key overseas markets gyrated wildly last year for producers of bourbon, Tennessee whiskey and rye whiskey. In the first half of 2018, American whiskey exports to the EU surged by 33 percent, it said. “That suggests that the tariffs are starting to have a measureable impact on Ameri
Tariffs take toll on whiskey exports in last half of 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, exports, sales, council, whiskey, european, tariffs, trade, export, half, 2018, spirits, toll


Tariffs take toll on whiskey exports in last half of 2018

Retaliatory tariffs caused a sharp downturn in American whiskey exports in the last half of 2018 as distillers started feeling the pain from global trade disputes, an industry trade group said Tuesday.

Exports to some key overseas markets gyrated wildly last year for producers of bourbon, Tennessee whiskey and rye whiskey. Overall, U.S. spirits exports in 2018 stayed on another record-setting trajectory, due in part to surging whiskey sales in the months leading up to the tariffs as larger distillers stockpiled supplies, the Distilled Spirits Council said. Other categories including vodka, brandy and rum also had strong overseas sales.

But exports would have been much higher without the trade war, it said.

“For the first time, data can demonstrate the negative impact of retaliatory tariffs on what had been a booming export growth story,” said Christine LoCascio, the council’s senior vice president for international affairs.

“The tariffs are making it more difficult to be competitive in key markets,” she added.

The export figures confirmed fears among industry leaders that tariffs would depress overseas sales. But whiskey industry officials have been muted in blaming President Donald Trump and others for the export headaches.

American whiskey exports to the European Union — the industry’s biggest export market — fell by 8.7 percent from July through November of last year, compared to the same period in 2017, the group said in its annual report released in New York.

In the first half of 2018, American whiskey exports to the EU surged by 33 percent, it said.

Overall global American whiskey exports grew by 28 percent in the first half of 2018, then fell by 8.2 percent from July to November — compared to a year ago — once tariffs took effect, according to the trade group’s export figures, based on numbers supplied by the U.S. government.

“That suggests that the tariffs are starting to have a measureable impact on American whiskey exports,” LoCascio said.

Despite the volatility, exports for all U.S. spirits recorded another record at almost $1.7 billion through November, the council said.

“It would have been a lot stronger if we hadn’t had these tariffs” said council spokesman Frank Coleman. “If not for the tariffs, we would have been popping the corks on the best bottles in our liquor cabinet.”

American whiskey makers face retaliatory tariffs in Canada, Mexico, China and Turkey as well as the EU. Those duties amount to a tax, which producers can either pass along to customers through higher prices or absorb shrinking profits.

Some large American distillers gained a short-term cushion from trade disputes by stockpiling whiskey supplies in countries ahead of the tariffs. But as the trade disputes continue, they are being hit, too. Smaller distillers didn’t have the luxury of stockpiling.

Catoctin Creek Distillery in Virginia has a couple hundred cases of its rye whiskey sitting in a European warehouse. The inventory was built up in anticipation of growing European sales in 2018. But since the tariffs took effect, Catoctin Creek’s sales in Italy and Germany have plunged and its plans of expanding to the United Kingdom are on hold, said its co-founder and general manager, Scott Harris.

About 11 percent of its overall 2017 revenues came from Europe. The distillery hoped its European business would increase to one-fourth of total revenues in 2018, but “that part just never materialized,” Harris said in an interview.

“If we were able to get the tariffs removed, I think we’d be in good shape to really just take off,” he said.

For now, Catoctin Creek is absorbing the costs of tariffs for the scaled-back European sales it’s able to make in hopes of maintaining relationships with distributors and staying competitive, Harris said.

“For European sales, it means we’re losing money on every bottle,” he said.

Asked how long his distillery can afford to do that, he replied: “I don’t even want to think about it. We might do it for another half of year and see. Honestly, it’s hard to be optimistic at this point.”

While exports were a glaring concern, domestic sales of distilled spirits were strong in 2018.

The council reported another year of record spirits sales and volumes in the U.S., resulting in continued market share growth. Supplier sales were up over 5.1 percent, rising $1.3 billion to a total of $27.5 billion, while volumes rose 2.2 percent to 231 million cases, it said.

“These robust results show adult consumers are continuing to favor spirits over beer and wine, particularly among millennials,” council President and CEO Chris Swonger said.

Combined U.S. revenues for bourbon, Tennessee whiskey and rye whiskey rose 6.6 percent, or $224 million, to $3.6 billion in 2018, council said. Domestic volumes rose 5.9 percent to 24.5 million cases.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, exports, sales, council, whiskey, european, tariffs, trade, export, half, 2018, spirits, toll


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Activision Blizzard has shed more than half its value in months

Activision Blizzard reportedly plans to announce job cuts when it posts fourth-quarter earnings Tuesday afternoon. He also said Activision Blizzard doesn’t look great compared with rivals — especially Electronic Arts. Wald’s point is that while Electronic Arts has managed to rebound above its pre-earnings levels, Activision Blizzard is still stuck in a rut. Traditional video-game makers like Activision Blizzard, Electronic Arts and Take-Two Interactive have all struggled to keep up with free-to-


Activision Blizzard reportedly plans to announce job cuts when it posts fourth-quarter earnings Tuesday afternoon. He also said Activision Blizzard doesn’t look great compared with rivals — especially Electronic Arts. Wald’s point is that while Electronic Arts has managed to rebound above its pre-earnings levels, Activision Blizzard is still stuck in a rut. Traditional video-game makers like Activision Blizzard, Electronic Arts and Take-Two Interactive have all struggled to keep up with free-to-
Activision Blizzard has shed more than half its value in months Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: pippa stevens, getty images, joshua roberts, bloomberg, miguel riopa, afp, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, value, mobile, taketwo, shares, half, stock, gaming, activision, space, shed, arts, months, electronic, blizzard


Activision Blizzard has shed more than half its value in months

Activision Blizzard reportedly plans to announce job cuts when it posts fourth-quarter earnings Tuesday afternoon.

Its shares sank to their lowest level in two years on Monday following the report, the latest piece of news to rock the stock.

Last Wednesday, shares of the video-gaming giant dropped more than 10 percent after competitors Electronic Arts and Take-Two Interactive posted disappointing earnings.

The company has lost more than half its value in the last four months with shares dropping roughly 52 percent from their recent high in October.

The drastic move in the stock has the Street divided on whether this represents a bargain buy, or if investors should steer clear.

Oppenheimer’s Ari Wald warned on CNBC’s “Trading Nation” on Monday that Activision Blizzard is in a “bearish trend,” and investors should “stay away from this stock.”

From a technical standpoint, Wald noted that the stock hasn’t been able to break above its 50-day moving average in the last month, and also that it dipped below its key support level of $45.

He also said Activision Blizzard doesn’t look great compared with rivals — especially Electronic Arts. That stock fell more than 13 percent on Wednesday after the company reported disappointing earnings, but just two days later it surged 16 percent after early success of its new “Apex Legends” game. Wald’s point is that while Electronic Arts has managed to rebound above its pre-earnings levels, Activision Blizzard is still stuck in a rut.

“EA has snapped back, Activision has continued to sell off, so that’s relative weakness right there. Overall, timing lows is a poor long-term strategy. This is one to wait for it to stabilize,” he said.

Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management, is bullish on Activision Blizzard in the long term, saying the company’s diversified business channels makes it an especially compelling buy in a sector that’s shown exponential growth.

“We think it’s a classic restructuring of a rapidly growing company in a growth space,” he said Monday on “Trading Nation.” “They have one of the most diversified business lines relative to the competitors: They have the console gaming, and they have the mobile gaming and in the mobile gaming space they haven’t even started to touch advertising revenue.”

Traditional video-game makers like Activision Blizzard, Electronic Arts and Take-Two Interactive have all struggled to keep up with free-to-play games like the popular “Fortnite.” But Bapis believes Activision’s turnaround strategy, which includes plans to focus more on mobile, will drive future gains.

“There’s going to be some turmoil. You’re going to have to wait it out, but 12-18 months, we’re long this space and long Activision because this [gaming] is just taking over society right now,” he said.

Shares of Activision Blizzard have dropped 40 percent in the last year. Electronic Arts and Take-Two Interactive are down 19 and 14 percent, respectively.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: pippa stevens, getty images, joshua roberts, bloomberg, miguel riopa, afp, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, value, mobile, taketwo, shares, half, stock, gaming, activision, space, shed, arts, months, electronic, blizzard


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla’s largest institutional investor just cut its stake in half

T. Rowe Price cut its stake in Tesla in half during the fourth quarter, according to a government filing. The international money manager owned 8.98 million Tesla shares by the end of last year, according to a filing at the Securities and Exchange Commission. The Baltimore-based fund group reported in a prior filing that it owned 17.4 million shares, or a 10.2 percent stake, as of Sept. 30. Tesla shares rose almost 26 percent during the fourth quarter and were up 2.7 percent Monday afternoon, ab


T. Rowe Price cut its stake in Tesla in half during the fourth quarter, according to a government filing. The international money manager owned 8.98 million Tesla shares by the end of last year, according to a filing at the Securities and Exchange Commission. The Baltimore-based fund group reported in a prior filing that it owned 17.4 million shares, or a 10.2 percent stake, as of Sept. 30. Tesla shares rose almost 26 percent during the fourth quarter and were up 2.7 percent Monday afternoon, ab
Tesla’s largest institutional investor just cut its stake in half Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: thomas franck, john leyba, the denver post, getty images
Keywords: news, cnbc, companies, tesla, end, quarter, rowe, institutional, largest, investor, price, million, makers, shares, cut, half, stake, owned, teslas


Tesla's largest institutional investor just cut its stake in half

T. Rowe Price cut its stake in Tesla in half during the fourth quarter, according to a government filing.

The international money manager owned 8.98 million Tesla shares by the end of last year, according to a filing at the Securities and Exchange Commission. The new, smaller stake represents 5.2 percent of the electric auto maker’s common shares outstanding at the end of December. The Baltimore-based fund group reported in a prior filing that it owned 17.4 million shares, or a 10.2 percent stake, as of Sept. 30.

T. Rowe Price was the electric car maker’s second-largest shareholder behind CEO Elon Musk at the end of the third quarter of 2018. The firm had $962 billion in assets under management as of Dec. 31.

Tesla shares rose almost 26 percent during the fourth quarter and were up 2.7 percent Monday afternoon, above $314 per share.

T. Rowe Price declined to comment for this story, while Tesla did not immediately responded to CNBC’s request for comment.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: thomas franck, john leyba, the denver post, getty images
Keywords: news, cnbc, companies, tesla, end, quarter, rowe, institutional, largest, investor, price, million, makers, shares, cut, half, stake, owned, teslas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Tesla’s delivery team said to be gutted in recent job cuts

When Tesla announced last month a second round of job cuts to rein in costs, one crucial department was particularly badly hit. The automaker more than halved the division that delivers its electric vehicles to North American customers, two of the laid-off workers said. Tesla has said its focus this quarter is on supplying cars to customers waiting in China and Europe. Tesla declined to comment on the job reductions in the delivery team. The company still has an undisclosed number of delivery pe


When Tesla announced last month a second round of job cuts to rein in costs, one crucial department was particularly badly hit. The automaker more than halved the division that delivers its electric vehicles to North American customers, two of the laid-off workers said. Tesla has said its focus this quarter is on supplying cars to customers waiting in China and Europe. Tesla declined to comment on the job reductions in the delivery team. The company still has an undisclosed number of delivery pe
Tesla’s delivery team said to be gutted in recent job cuts Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: mason trinca, the washington post, getty images
Keywords: news, cnbc, companies, quarter, job, gutted, cuts, company, tesla, teslas, recent, team, tax, model, employees, delivery, half


Tesla's delivery team said to be gutted in recent job cuts

When Tesla announced last month a second round of job cuts to rein in costs, one crucial department was particularly badly hit. The automaker more than halved the division that delivers its electric vehicles to North American customers, two of the laid-off workers said.

Some 150 employees out of a team of about 230 were let go in January at the Las Vegas facility that gets tens of thousands of Model 3s into the hands of U.S. and Canadian buyers, they said, in a sign the company expected the pace of deliveries to significantly slow in the near term.

The cuts, which have not been previously reported, could fuel investor worries that demand for the Model 3 in the United States has tailed off after a large tax break for consumers expired last year and the car remains too expensive for most consumers.

Tesla has said its focus this quarter is on supplying cars to customers waiting in China and Europe.

“There are not enough deliveries,” one of the former employees told Reuters. “You don’t need a team because there are not that many cars coming through.”

Delivery of the Model 3 was the company’s key priority in the latter half of 2018, as Tesla tried to supply all buyers wanting the full benefit of the $7,500 U.S. tax credit before it was cut in half at year’s end.

The Model 3 is crucial to Tesla’s plans for long-term profitability. The company aims to post a profit in each quarter this year, based on the expectation that it will sell more Model 3s and continue to cut costs.

Tesla declined to comment on the job reductions in the delivery team. The company still has an undisclosed number of delivery personnel attached to other locations.


Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: mason trinca, the washington post, getty images
Keywords: news, cnbc, companies, quarter, job, gutted, cuts, company, tesla, teslas, recent, team, tax, model, employees, delivery, half


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Nasdaq to beat the broader market this year: Tech investor Paul Meeks

Investor Paul Meeks turns bullish on tech, predicts Nasdaq will jump 10 percent or more this year 5:02 PM ET Fri, 8 Feb 2019 | 01:07Technology investor Paul Meeks is no longer avoiding the group that made him famous on Wall Street. Late last year, he was telling investors that most tech names were “uninvestable.” According to Meeks, tech stocks could still see some near-term turbulence especially around the U.S.-China trade war deadline on March 1. “A lot of the gains are going to come between t


Investor Paul Meeks turns bullish on tech, predicts Nasdaq will jump 10 percent or more this year 5:02 PM ET Fri, 8 Feb 2019 | 01:07Technology investor Paul Meeks is no longer avoiding the group that made him famous on Wall Street. Late last year, he was telling investors that most tech names were “uninvestable.” According to Meeks, tech stocks could still see some near-term turbulence especially around the U.S.-China trade war deadline on March 1. “A lot of the gains are going to come between t
Nasdaq to beat the broader market this year: Tech investor Paul Meeks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: stephanie landsman, bryan r smith, afp, getty images, george frey, bloomberg, adam jeffery, drew angerer, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, paul, think, late, market, tech, beat, broader, investor, meeks, nasdaq, names, saidfor, half


Nasdaq to beat the broader market this year: Tech investor Paul Meeks

Investor Paul Meeks turns bullish on tech, predicts Nasdaq will jump 10 percent or more this year 5:02 PM ET Fri, 8 Feb 2019 | 01:07

Technology investor Paul Meeks is no longer avoiding the group that made him famous on Wall Street.

Meeks, who ran the world’s biggest tech fund for Merrill Lynch in the late 1990s and early 2000s, expects the tech-heavy Nasdaq to end the year at least 10 percent higher.

“I’m starting to creep out of the bunker,” he said Friday on CNBC’s “Trading Nation.” “I would say that when you get to December 31 of this year, the Nasdaq will be up double digit in calendar 2019. And, it will outperform both the Dow and the S&P [500 Index].”

It’s a material shift for Meeks. Late last year, he was telling investors that most tech names were “uninvestable.” Now, he believes tech valuations have come down enough to start putting money to work again — as long as it’s done with vigilance.

“Some companies are doing quite well, and some are giving very mixed even bearish guidance. So you have to be super careful,” he said.

For example, when it comes to FANG names Facebook, Amazon, Netflix and Alphabet, Meeks owns them all. However, he wouldn’t add positions to all of them right now.

“The only one I think I would buy here because I think it is the best among the group combination of valuation support and upside potential is Alphabet,” he said.

According to Meeks, tech stocks could still see some near-term turbulence especially around the U.S.-China trade war deadline on March 1. However, the investment picture should begin to improve after that.

“A lot of the gains are going to come between the summer and the end of the year — a second half phenomenon,” Meeks said.

For the week ending Friday, the Nasdaq is up a half percent, and it remains in correction territory.


Company: cnbc, Activity: cnbc, Date: 2019-02-09  Authors: stephanie landsman, bryan r smith, afp, getty images, george frey, bloomberg, adam jeffery, drew angerer, kcna, thomas barwick getty images
Keywords: news, cnbc, companies, paul, think, late, market, tech, beat, broader, investor, meeks, nasdaq, names, saidfor, half


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post