‘It’s never too late,’ Luxembourg minister says on possible Brexit deal

The United Kingdom may be careering toward a no-deal Brexit with only six weeks to its official deadline, but Luxembourg’s finance minister has offered some confidence on a deal still being reached. The U.K. and the European negotiating teams agreed Monday to have further talks on how to overcome the current impasse. U.K. lawmakers rejected last month a deal that Prime Minister Theresa May had reached with the other 27 European countries after nearly two years of negotiations. “You know in diplo


The United Kingdom may be careering toward a no-deal Brexit with only six weeks to its official deadline, but Luxembourg’s finance minister has offered some confidence on a deal still being reached. The U.K. and the European negotiating teams agreed Monday to have further talks on how to overcome the current impasse. U.K. lawmakers rejected last month a deal that Prime Minister Theresa May had reached with the other 27 European countries after nearly two years of negotiations. “You know in diplo
‘It’s never too late,’ Luxembourg minister says on possible Brexit deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: silvia amaro
Keywords: news, cnbc, companies, late, luxembourg, european, minister, lawmakers, 27, finance, brexit, deal, eu, youre, possible, uk


'It's never too late,' Luxembourg minister says on possible Brexit deal

The United Kingdom may be careering toward a no-deal Brexit with only six weeks to its official deadline, but Luxembourg’s finance minister has offered some confidence on a deal still being reached.

The U.K. and the European negotiating teams agreed Monday to have further talks on how to overcome the current impasse.

U.K. lawmakers rejected last month a deal that Prime Minister Theresa May had reached with the other 27 European countries after nearly two years of negotiations. The main stumbling block is the Irish backstop, a safety policy that aims to prevent a hard border between Northern Ireland and the Republic of Ireland.

The pressure is mounting given the scheduled departure date of March 29. If the impasse continues, the U.K. could leave the EU without any agreement, which would bring huge uncertainty for businesses and citizens as well as fears in financial markets.

“You know in diplomacy it’s never too late, so one should continue to discuss,” Pierre Gramegna, the Luxembourg finance minister and former diplomat, told CNBC’s Willem Marx in Brussels Tuesday.

“Obviously, we are coming very close to a dire strait, but when you have been partners for more than 40 years … You’re trying to find the best possible solution,” he added.

May will update the U.K. parliament on Tuesday and is set to ask for more patience as she tries to get some new compromises from the EU. She has promised to give U.K. lawmakers another chance to vote on the Brexit process by February 27.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: silvia amaro
Keywords: news, cnbc, companies, late, luxembourg, european, minister, lawmakers, 27, finance, brexit, deal, eu, youre, possible, uk


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘It’s never too late,’ Luxembourg minister says on possible Brexit deal

The United Kingdom may be careering toward a no-deal Brexit with only six weeks to its official deadline, but Luxembourg’s finance minister has offered some confidence on a deal still being reached. The U.K. and the European negotiating teams agreed Monday to have further talks on how to overcome the current impasse. U.K. lawmakers rejected last month a deal that Prime Minister Theresa May had reached with the other 27 European countries after nearly two years of negotiations. “You know in diplo


The United Kingdom may be careering toward a no-deal Brexit with only six weeks to its official deadline, but Luxembourg’s finance minister has offered some confidence on a deal still being reached. The U.K. and the European negotiating teams agreed Monday to have further talks on how to overcome the current impasse. U.K. lawmakers rejected last month a deal that Prime Minister Theresa May had reached with the other 27 European countries after nearly two years of negotiations. “You know in diplo
‘It’s never too late,’ Luxembourg minister says on possible Brexit deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: silvia amaro
Keywords: news, cnbc, companies, late, 27, uk, deal, possible, finance, minister, eu, lawmakers, youre, brexit, luxembourg, european


'It's never too late,' Luxembourg minister says on possible Brexit deal

The United Kingdom may be careering toward a no-deal Brexit with only six weeks to its official deadline, but Luxembourg’s finance minister has offered some confidence on a deal still being reached.

The U.K. and the European negotiating teams agreed Monday to have further talks on how to overcome the current impasse.

U.K. lawmakers rejected last month a deal that Prime Minister Theresa May had reached with the other 27 European countries after nearly two years of negotiations. The main stumbling block is the Irish backstop, a safety policy that aims to prevent a hard border between Northern Ireland and the Republic of Ireland.

The pressure is mounting given the scheduled departure date of March 29. If the impasse continues, the U.K. could leave the EU without any agreement, which would bring huge uncertainty for businesses and citizens as well as fears in financial markets.

“You know in diplomacy it’s never too late, so one should continue to discuss,” Pierre Gramegna, the Luxembourg finance minister and former diplomat, told CNBC’s Willem Marx in Brussels Tuesday.

“Obviously, we are coming very close to a dire strait, but when you have been partners for more than 40 years … You’re trying to find the best possible solution,” he added.

May will update the U.K. parliament on Tuesday and is set to ask for more patience as she tries to get some new compromises from the EU. She has promised to give U.K. lawmakers another chance to vote on the Brexit process by February 27.


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: silvia amaro
Keywords: news, cnbc, companies, late, 27, uk, deal, possible, finance, minister, eu, lawmakers, youre, brexit, luxembourg, european


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

Japan’s 10-day holiday stirs concern in traders and investors

To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen. Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.” U.S. financial markets closed for six days after the attacks on Sept. 11, 2001. “In 10 days, we can be in a completely different world,” said a currency trader at a


To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen. Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.” U.S. financial markets closed for six days after the attacks on Sept. 11, 2001. “In 10 days, we can be in a completely different world,” said a currency trader at a
Japan’s 10-day holiday stirs concern in traders and investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jiji press, afp, getty images
Keywords: news, cnbc, companies, japanese, concern, late, stirs, investors, say, traders, 10day, markets, holidays, market, shutdown, days, holiday, financial, bank, japans


Japan's 10-day holiday stirs concern in traders and investors

To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen.

Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.”

But this year, with Crown Prince Naruhito’s being crowned the new emperor on May 1, the government made the entire period from April 27 to May 6 a market holiday.

It will be the longest break ever for Japanese stocks and bonds.

Major financial centres rarely have such long periods of shutdown. U.S. financial markets closed for six days after the attacks on Sept. 11, 2001.

“It’s horrifying that we can’t trade for six business days. We’ve got to adjust our positions before the week. Hard to say exactly what I will do then, but I’ll probably have to make my position neutral before the holidays,” said Yasuo Sakuma, chief investment officer at Libra Investments.

Japan’s financial watchdog has told all financial institutions to alert customers about the possibility of turbulence in overseas markets during the shutdown, and to make sure their systems can cope with a flurry of activity before and after, documents obtained by Reuters showed.

The U.S. and U.K. central banks will hold policy meetings during the Japanese holiday; U.S. payroll data, GDP from the United States and the Eurozone, and corporate earnings around the world will also be released.

“In 10 days, we can be in a completely different world,” said a currency trader at a major Japanese bank.

Currency traders at the country’s biggest banks and insurers, such as MUFG Bank, Sumitomo Mitsui Bank, Mizuho Bank and Nippon Life Insurance, are equipped to work either at home or in the office during holidays, markets players say.

But they added it might be tougher to deal with more complex products, such as derivatives, pricing of which usually requires in-house terminals.

Fund managers, meanwhile, say they will probably need to bring their positions to neutral by late April to avoid exposure to market swings.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jiji press, afp, getty images
Keywords: news, cnbc, companies, japanese, concern, late, stirs, investors, say, traders, 10day, markets, holidays, market, shutdown, days, holiday, financial, bank, japans


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Elon Musk says Tesla is ending its customer referral program as it’s costing too much

Tesla’s customer referral program will come to an end on Feb. 1, chief executive Elon Musk said in a tweet Thursday. The initiative lets drivers give their friends a referral code to get six months of free charging via Tesla’s Supercharger network. TweetThe premium electric auto manufacturer has made a number of cost-cutting moves of late, as it looks to boost margins and expand profitability. Late last month, the firm cut prices on its Model 3 car in China, while this week it discontinued the l


Tesla’s customer referral program will come to an end on Feb. 1, chief executive Elon Musk said in a tweet Thursday. The initiative lets drivers give their friends a referral code to get six months of free charging via Tesla’s Supercharger network. TweetThe premium electric auto manufacturer has made a number of cost-cutting moves of late, as it looks to boost margins and expand profitability. Late last month, the firm cut prices on its Model 3 car in China, while this week it discontinued the l
Elon Musk says Tesla is ending its customer referral program as it’s costing too much Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: ryan browne, mack hogan
Keywords: news, cnbc, companies, program, million, teslas, customer, ending, late, free, firm, quarter, referral, costing, elon, profit, model, tesla, musk


Elon Musk says Tesla is ending its customer referral program as it's costing too much

Tesla’s customer referral program will come to an end on Feb. 1, chief executive Elon Musk said in a tweet Thursday.

The initiative lets drivers give their friends a referral code to get six months of free charging via Tesla’s Supercharger network.

Musk said the move was aimed at reducing costs incurred by the scheme. “It’s adding too much cost to the cars, especially Model 3,” he said.

Tweet

The premium electric auto manufacturer has made a number of cost-cutting moves of late, as it looks to boost margins and expand profitability. Late last month, the firm cut prices on its Model 3 car in China, while this week it discontinued the lowest-priced versions of the Model S sedan and Model X SUV.

In its last quarterly report, the company scored its first profit in two years, posting net profit of $311.5 million and $881 million in free cash flow.

The firm managed to pump out 86,500 vehicles in the fourth quarter, up from 80,142 in the previous quarter, but disappointed investor expectations when it came to deliveries.


Company: cnbc, Activity: cnbc, Date: 2019-01-17  Authors: ryan browne, mack hogan
Keywords: news, cnbc, companies, program, million, teslas, customer, ending, late, free, firm, quarter, referral, costing, elon, profit, model, tesla, musk


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The bank stocks are leading stocks out of their rut, and it’s not too late to buy: Cramer

The surge stemmed in part from sharply better-than-expected earnings reports from Goldman Sachs and Bank of America, and partly from the “severe” selling that hit bank stocks in the fourth quarter of 2018, Cramer said. As such, “it is not too late to buy the banks,” Cramer argued. “Goldman’s tangible book value is $196 per share, just a buck below where the stock is currently trading,” Cramer said. The “Mad Money” host added that he hasn’t seen action this “absurd” and disconnected from reality


The surge stemmed in part from sharply better-than-expected earnings reports from Goldman Sachs and Bank of America, and partly from the “severe” selling that hit bank stocks in the fourth quarter of 2018, Cramer said. As such, “it is not too late to buy the banks,” Cramer argued. “Goldman’s tangible book value is $196 per share, just a buck below where the stock is currently trading,” Cramer said. The “Mad Money” host added that he hasn’t seen action this “absurd” and disconnected from reality
The bank stocks are leading stocks out of their rut, and it’s not too late to buy: Cramer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, theyre, making, trading, late, rut, stock, money, banks, stocks, bank, leading, value, buy, cramer


The bank stocks are leading stocks out of their rut, and it's not too late to buy: Cramer

CNBC’s Jim Cramer says the stock market’s recent lift off its lows can be attributed to one key sector: the banks.

“When you look at this incredible nine-day run in the financial stocks, there’s really only one way to interpret it: the banks are leading this market’s charge out of the bear-den abyss,” he said Wednesday on “Mad Money” after investment giant Goldman Sachs’ stock posted its best trading day in 10 years.

The surge stemmed in part from sharply better-than-expected earnings reports from Goldman Sachs and Bank of America, and partly from the “severe” selling that hit bank stocks in the fourth quarter of 2018, Cramer said.

In that brief, but vicious bear market, the group saw stark declines, the most dramatic being Goldman’s plunge from $234 at its November highs to $151 at its lows. The drop was likely worsened by a scandal in Malaysia, which Goldman’s CEO addressed Wednesday. Even after its 9.54 percent surge on Wednesday, Goldman shares were trading at just $197.08.

To Cramer, that action is emblematic of what investors are just beginning to grasp.

“Investors, I think, have started to realize that the banks are literally — not figuratively, but literally — making more money than ever, and they’re doing so with less risk and fewer employees as technology has replaced tons of white-collar jobs,” he said.

As such, “it is not too late to buy the banks,” Cramer argued.

What makes him so sure? First, based on tangible book value, his favorite metric for valuing the big banks, a stock like Goldman’s is trading at an extreme discount, he said. Tangible book value refers to how much a bank would be worth if it shut down and completely liquidated its operations.

“Goldman’s tangible book value is $196 per share, just a buck below where the stock is currently trading,” Cramer said. “That is absurd. They’re making a fortune off of that book value, yet they’re almost getting no credit for it whatsoever.”

Bank of America, which has 26 million active users on its mobile app, might not be getting the credit it deserves, either, he said. Cramer argued that, with 1.5 billion app log-ins in the fourth quarter alone, Bank of America goes beyond being “the millennials’ bank,” because everyone with a smartphone is a potential digital customer.

“As I see it, this is a growth company that’s merely masquerading as a staid and boring bank,” he said.

The “Mad Money” host added that he hasn’t seen action this “absurd” and disconnected from reality in the bank stocks in decades.

“Frankly, we haven’t seen a moment like this — where the banks are making far more money than people believe — since we came out of the [savings and loan] crisis in the early ’90s,” he said. “Back then, many investors sold these stocks after what seemed like big moves off the bottom, only to realize not long after that new buyers were flocking to the group after months and months of underperformance.”

Those new buyers, Cramer said, “recognized that something fundamentally had changed: the banks had gotten better. The bank stocks ultimately soared to new heights, and I wouldn’t be surprised if we got a similar scenario this time.”

And if the financial sector, which represents about 20 percent of the S&P 500, can get its groove back, the broader stock market could see “some remarkable gains,” Cramer said.

“There’ll be plenty of people who say, ‘Finally, I’m back to even, time to go.’ I’m urging you to think the other way,” he told investors. “There are a lot of investors who’ll look at these runs and decide … they want in, and, honestly, I think they’re making the right call, not the exiters, although, ideally, of course, you want to get in ahead of these latecomers.”


Company: cnbc, Activity: cnbc, Date: 2019-01-16  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, theyre, making, trading, late, rut, stock, money, banks, stocks, bank, leading, value, buy, cramer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil rises 1 percent on supply cuts, but economic slowdown weighs on outlook

Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook capped gains. International Brent crude oil futures were at $59.64 per barrel at 0257 GMT, up 65 cents, or 1.1 percent, from their last close. Although Washington granted sanctions waivers to Iran’s biggest oil customers, mostly in Asia, the Middle Eastern country’s exports have plummeted since. While OPEC and Russia cut supply and Iran is restrained by sanctions, cru


Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook capped gains. International Brent crude oil futures were at $59.64 per barrel at 0257 GMT, up 65 cents, or 1.1 percent, from their last close. Although Washington granted sanctions waivers to Iran’s biggest oil customers, mostly in Asia, the Middle Eastern country’s exports have plummeted since. While OPEC and Russia cut supply and Iran is restrained by sanctions, cru
Oil rises 1 percent on supply cuts, but economic slowdown weighs on outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: essam al-sudani
Keywords: news, cnbc, companies, slowdown, sanctions, late, barrel, cuts, million, russia, rises, outlook, supply, crude, production, weighs, oil, economic, opec


Oil rises 1 percent on supply cuts, but economic slowdown weighs on outlook

Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook capped gains.

International Brent crude oil futures were at $59.64 per barrel at 0257 GMT, up 65 cents, or 1.1 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were at $51.09 per barrel, up 58 cents, or 1.2 percent.

“The impact of OPEC+ (OPEC and others including Russia) cuts, Iran sanctions and lower month-on-month growth in U.S. production should help to support oil prices from current levels,” U.S. bank J.P. Morgan said in a note.

The Middle East-dominated producer club of the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC allies, including Russia, agreed in late 2018 to cut supply to rein in a global glut.

Meanwhile, the United States last November re-imposed sanctions against Iran’s oil exports. Although Washington granted sanctions waivers to Iran’s biggest oil customers, mostly in Asia, the Middle Eastern country’s exports have plummeted since.

“Iranian exports have already fallen sharply and are likely to remain at around 1.3 million barrels per day (bpd) in 2019, 1.3 million bpd down vs their 1H18 average,” HSBC said in its 2019 oil market outlook.

While OPEC and Russia cut supply and Iran is restrained by sanctions, crude oil production in the United States hit a record 11.7 million bpd late last year.

The surging output increasingly allows U.S. oil producers to export crude, including to top importer China.

Three cargoes of U.S. crude are currently heading to China from the U.S.

Gulf Coast, the first departures since late September and a 90-day pause in the two countries’ trade war that began last month.

The tankers are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data.

Looming over oil and financial markets, however, is an economic slowdown.

Tuesday’s oil price increases came after crude futures fell by more than 2 percent the previous session, dragged down by weak Chinese trade data which pointed to a global economic slowdown.

“The outlook for the global economy continues to be highly uncertain,” HSBC said.

The bank said it had cut its average 2019 Brent crude oil price forecast by $16 per barrel, to $64 per barrel, citing surging U.S. production and an “increasingly uncertain demand backdrop”.


Company: cnbc, Activity: cnbc, Date: 2019-01-15  Authors: essam al-sudani
Keywords: news, cnbc, companies, slowdown, sanctions, late, barrel, cuts, million, russia, rises, outlook, supply, crude, production, weighs, oil, economic, opec


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer: It’s not too late to buy into Facebook, Apple, Amazon or Alphabet

It’s not too late to buy some of the top stocks in tech, CNBC’s Jim Cramer said Tuesday as big names like Apple and Amazon led stocks higher. In fact, Cramer would recommend nearly all of the stocks in FAANG, his acronym for Facebook, Amazon, Apple, Netflix and Google parent Alphabet. “With the exception of Netflix, I don’t think” it’s too late to buy shares, he said on “Mad Money.” The secretive Alphabet is also “inexpensive” and has “a lot of optionality” thanks to its cash hoard, even though


It’s not too late to buy some of the top stocks in tech, CNBC’s Jim Cramer said Tuesday as big names like Apple and Amazon led stocks higher. In fact, Cramer would recommend nearly all of the stocks in FAANG, his acronym for Facebook, Amazon, Apple, Netflix and Google parent Alphabet. “With the exception of Netflix, I don’t think” it’s too late to buy shares, he said on “Mad Money.” The secretive Alphabet is also “inexpensive” and has “a lot of optionality” thanks to its cash hoard, even though
Cramer: It’s not too late to buy into Facebook, Apple, Amazon or Alphabet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, stocks, cramer, think, mad, money, netflix, stock, late, buy, amazon, facebook, apple, alphabet


Cramer: It's not too late to buy into Facebook, Apple, Amazon or Alphabet

It’s not too late to buy some of the top stocks in tech, CNBC’s Jim Cramer said Tuesday as big names like Apple and Amazon led stocks higher.

In fact, Cramer would recommend nearly all of the stocks in FAANG, his acronym for Facebook, Amazon, Apple, Netflix and Google parent Alphabet.

“With the exception of Netflix, I don’t think” it’s too late to buy shares, he said on “Mad Money.” “There’s too much opportunity in FAANG, even among the likes of Facebook, even if only for a trade.”

Cramer’s newly positive outlook on Facebook stemmed mostly from the lack of negativity. “Business is good” at the social media giant despite the data scandals that have plagued it in recent years, he said.

“Pretty much everything that can be written negatively has been written,” Cramer said. “Without new grist for the media hate-mill, people are back to using [Facebook subsidiary] Instagram around the world. Advertisers still love the darned thing.”

Apple would be a $230 stock if it were only valued properly, the “Mad Money” host said after a wide-ranging sit-down with the iPhone maker’s CEO, Tim Cook. Apple ended Tuesday’s trading session at $150.75 a share.

“After talking to Tim, I’m … much more certain that these tech analysts who follow the company simply don’t know how to value the darned thing,” he said. “They treat Apple like it’s a pure hardware company, not at all giving any credit for the razor-razorblade business where customer loyalty is still bringing in new income.”

Cramer wasn’t so bullish on Amazon, saying he disagreed with legendary hedge fund manager Bill Miller’s call that the e-commerce play will double in three years.

Even so, Amazon is “the gold standard” of the cloud industry, Cramer said, adding that he “could easily see this $1,656 stock running to $2,000 now that the market’s circling back to technology.”

The secretive Alphabet is also “inexpensive” and has “a lot of optionality” thanks to its cash hoard, even though the Google parent keeps its projects notoriously under wraps, said the “Mad Money” host.

The only one that worried Cramer was Netflix, which has rallied nearly 20 percent since 2019 began.

“I think the company is amazing,” he said. “At this point, though, its stock is reflecting a re-acceleration of growth in both domestic and international [subscribers], and I’m not sure that’s right. It’s had a monster move. I think you need to be a little careful.”


Company: cnbc, Activity: cnbc, Date: 2019-01-08  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, stocks, cramer, think, mad, money, netflix, stock, late, buy, amazon, facebook, apple, alphabet


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Amid shutdown, banks, credit unions offer low-interest rate loans

With the government shutdown now in its 18th day, banks and credit unions are offering accommodations to federal workers who’ve seen their paychecks stop. Launch Federal Credit Union is issuing a zero-percent interest rate for loans of up to $3,000 to federal government employees. Navy Federal Credit Union is doing the same, but up to $6,000. The U.S. Employees Credit Union is providing interest-free loans to impacted members for 60 days, regardless of their credit score. “Even when consumers’ p


With the government shutdown now in its 18th day, banks and credit unions are offering accommodations to federal workers who’ve seen their paychecks stop. Launch Federal Credit Union is issuing a zero-percent interest rate for loans of up to $3,000 to federal government employees. Navy Federal Credit Union is doing the same, but up to $6,000. The U.S. Employees Credit Union is providing interest-free loans to impacted members for 60 days, regardless of their credit score. “Even when consumers’ p
Amid shutdown, banks, credit unions offer low-interest rate loans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: annie nova, getty images
Keywords: news, cnbc, companies, loans, federal, offering, interest, rate, impacted, late, shutdown, unions, amid, workers, offer, lowinterest, fees, credit, banks, union


Amid shutdown, banks, credit unions offer low-interest rate loans

With the government shutdown now in its 18th day, banks and credit unions are offering accommodations to federal workers who’ve seen their paychecks stop.

Some 420,000 employees are considered “essential,” and are working without pay, while 380,000 others have been ordered to stay home, according to calculations provided to CNBC by Paul Light, a professor of public service at New York University.

The shutdown’s reach also fans out to some 4 million contractors for the federal government, many of whom are unlikely to be included in any legislation Congress passes to make sure federal workers are compensated for the period the government was closed.

In the meantime, credit unions across the country have stepped up to help with some of the more generous offers for affected government employees.

Launch Federal Credit Union is issuing a zero-percent interest rate for loans of up to $3,000 to federal government employees. Navy Federal Credit Union is doing the same, but up to $6,000. For more information, check out its frequently asked questions page.

The U.S. Employees Credit Union is providing interest-free loans to impacted members for 60 days, regardless of their credit score.

Justice Federal Credit Union is offering unsecured loans with low interest rates to any impacted workers at the Department of Justice or Department of Homeland Security.

Credit union FedChoice will waive early-withdrawal fees on some certificates of deposit and issue short-term loans with interest rates as low as 2.50 percent. Among other requirements, you’ll need to provide evidence of your furloughed status.

Banks also have special offers for government workers.

Provident Bank in New Jersey recently announced that it will cancel mortgage and credit card late fees for federal workers and allow them to break their certificates of deposit early without any penalties.

Huntington, a bank based in Columbus, Ohio, with some 960 branches across the Midwest, is offering a “low rate, quick loan program” for customers who are federal employees.

Tom Goyda, a spokesman for Wells-Fargo, said the bank is not offering any special loans for impacted customers. However, it will reverse monthly service and overdraft fees for those who are employed by a closed government agency.

“If the shutdown goes on, we will continue to review how we are working with customers whose incomes are impacted and make changes to ensure that we are providing them with the most appropriate assistance,” Goyda said.

Chase is also waiving some fees for government employees who have direct-deposit set up. Credit card and mortgage late charges might also be dropped.

“Under certain scenarios for longer-term customers who consistently pay off their credit card balances in full, Chase could even consider reversing interest charges if they miss a paycheck,” said Patricia Wexler, a spokeswoman for the bank.

Nami Baral, CEO of Harvest, a start-up that uses artificial intelligence to negotiate bank fees, will make its service available to federal workers for free until the government reopens. (Normally, the company gets 25 percent of any reimbursed charges.)

“Even when consumers’ paychecks are delayed by a few days, they can rack up hundreds of dollars in overdrafts and late fees,” Baral said.

More from Personal Finance:

How to save more for retirement in 2019

Check your paycheck withholding rate now

How to navigate a late career job loss


Company: cnbc, Activity: cnbc, Date: 2019-01-07  Authors: annie nova, getty images
Keywords: news, cnbc, companies, loans, federal, offering, interest, rate, impacted, late, shutdown, unions, amid, workers, offer, lowinterest, fees, credit, banks, union


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘We are in a sick market,’ warns veteran trader Art Cashin

The stock market isn’t feeling well these days, veteran trader Art Cashin told CNBC on Thursday. Asked whether this is a bull market or bear market, the UBS director of floor operations at the New York Stock replied, “We’re in a sick market.” He or she is careful in the days that follow and need to figure out how far he or she can walk. Both the Dow and the S&P 500 ultimately ended the year down 5.6 percent and 6.2 percent, respectively. “Continued erosion, selling off and not bouncing is going


The stock market isn’t feeling well these days, veteran trader Art Cashin told CNBC on Thursday. Asked whether this is a bull market or bear market, the UBS director of floor operations at the New York Stock replied, “We’re in a sick market.” He or she is careful in the days that follow and need to figure out how far he or she can walk. Both the Dow and the S&P 500 ultimately ended the year down 5.6 percent and 6.2 percent, respectively. “Continued erosion, selling off and not bouncing is going
‘We are in a sick market,’ warns veteran trader Art Cashin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: michelle fox
Keywords: news, cnbc, companies, days, trader, dow, cashin, veteran, market, art, stock, selling, late, far, point, sick, warns, sp


'We are in a sick market,' warns veteran trader Art Cashin

The stock market isn’t feeling well these days, veteran trader Art Cashin told CNBC on Thursday.

Asked whether this is a bull market or bear market, the UBS director of floor operations at the New York Stock replied, “We’re in a sick market.”

“It has been very healthy for the first two-thirds, if you would, or three-quarters of last year and now it’s beginning to develop some signs of weakness,” he said on “Power Lunch.”

Cashin likened it to a person who had a cardiac event. He or she is careful in the days that follow and need to figure out how far he or she can walk.

“Markets get like that after they get banged around. They’re cautious,” he said.

Volatility has rocked the market of late, with sell-offs in late 2018 and a wild ride that saw the Dow Jones Industrial Average post its worst December performance since 1931. The blue-chip index also soared 1,000 points on Dec. 26, its biggest ever single-day point gain. Both the Dow and the S&P 500 ultimately ended the year down 5.6 percent and 6.2 percent, respectively. It was their biggest annual losses since 2008.

The rockiness continued into the new year. On Thursday, U.S. equities dropped sharply after Apple lowered its fiscal first-quarter revenue guidance and a weaker-than-expected reading on the U.S. manufacturing sector.

Cashin said he hasn’t seen selling get to the point of capitulation, which is when investors give up trying to recapture what they lost in a sell-off.

“They get close but they don’t quite get there,” he said. “I’d like to see it kind of purge a little bit and then I would be far more relaxed to see them go up. But now we’re fighting each crisis every day.”

He would be careful if the S&P gets back down around the 2,350 area.

“Continued erosion, selling off and not bouncing is going to make the market feel worse,” Cashin said.

— CNBC’s Fred Imbert contributed to this report.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-01-03  Authors: michelle fox
Keywords: news, cnbc, companies, days, trader, dow, cashin, veteran, market, art, stock, selling, late, far, point, sick, warns, sp


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post