Treasury yields move higher ahead of home sales data

U.S. government debt prices fell slightly on Monday as investors continue to watch for fresh economic data. The yield on the benchmark 10-year Treasury note rose to 2.5722 while the yield on the 30-year Treasury bond rose to 2.9729. Bond yields move inversely to prices. Bond traders could see a quieter day Monday as markets re-open following the Easter break. Existing home sales data for March, due 10.00 a.m.


U.S. government debt prices fell slightly on Monday as investors continue to watch for fresh economic data. The yield on the benchmark 10-year Treasury note rose to 2.5722 while the yield on the 30-year Treasury bond rose to 2.9729. Bond yields move inversely to prices. Bond traders could see a quieter day Monday as markets re-open following the Easter break. Existing home sales data for March, due 10.00 a.m.
Treasury yields move higher ahead of home sales data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: holly ellyatt
Keywords: news, cnbc, companies, sales, rose, watch, bond, higher, tradersthe, yield, yields, et, traders, treasury, data, morning, ahead


Treasury yields move higher ahead of home sales data

U.S. government debt prices fell slightly on Monday as investors continue to watch for fresh economic data.

The yield on the benchmark 10-year Treasury note rose to 2.5722 while the yield on the 30-year Treasury bond rose to 2.9729. Bond yields move inversely to prices.

Bond traders could see a quieter day Monday as markets re-open following the Easter break. Existing home sales data for March, due 10.00 a.m. ET, will be in focus for traders.

The Chicago Fed also releases its National Activity Index for March on Monday morning (at 08.30 a.m. ET). An auction of 3 and 6-month bills will take place late morning.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: holly ellyatt
Keywords: news, cnbc, companies, sales, rose, watch, bond, higher, tradersthe, yield, yields, et, traders, treasury, data, morning, ahead


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Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more

Check out the companies making headlines midday Monday:Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to


Check out the companies making headlines midday Monday:Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv. Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to
Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, fell, stocks, rose, kimberlyclark, shares, midday, company, reported, tesla, energy, share, sector, announced, biggest, boeing, moves, making, report


Stocks making the biggest moves midday: Kimberly-Clark, Boeing, Tesla & more

Check out the companies making headlines midday Monday:

Kimberly-Clark — Kimberly-Clark rose 5.4% after the company reported strong first-quarter earnings. The parent company of Kleenex, Huggies and Kotex reported $1.66 per share versus the expected $1.54 per share, according to Refinitiv.

Tesla — Shares of the automaker fell 3.9% following an apparent explosion of one of its vehicles in Shanghai. It wasn’t immediately clear which Tesla model was affected, and the company sent a team to China to investigate.

Boeing — Shares of the airline manufacturer dropped 1.3% following The New York Times’ report that Boeing ignored workers’ concerns over its production quality of 787 Dreamliner jets. Complaints come after two fatal crashes since October of its 737 Max.

CannTrust Holdings — Shares of CannTrust Holdings dropped 3.4% after the Canadian producer of medical and recreational cannabis announced it will issue $200 million worth of additional shares.

Bed Bath & Beyond — Bed, Bath & Beyond fell 4% after the housewares retailer announced it will be reconstructing its board. Five independent directors, the company’s founders and the co-chairman will all leave their positions on the board. Lead independent director Patrick Gaston has been named as the new chairman of the board.

Chevron, Exxon Mobil — Shares of the major energy companies rose 1.7% and 2.2%, respectively, after the U.S. announced it will halt sanction waivers to countries importing oil from Iran. The broader energy sector also outperformed on Monday, with the Energy Select Sector SPDR Fund surging 2.1%.

Rent-A-Center — Rent-A-Center shares jumped 7.2% after the company settled a lawsuit related to the termination of its merger with Vintage Capital Management. The company received more than $92 million from the deal.

W.W. Grainger – Shares of the industrial product distributor fell more than 5% after reporting revenue that missed Wall Street forecasts. The company’s CEO said sales were “softer than expected.” Earnings, however, did beat expectations, and W.W. Grainger reiterated its outlook for the remainder of the year. The stock is on pace for its worst day of trading since early December.

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


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, fell, stocks, rose, kimberlyclark, shares, midday, company, reported, tesla, energy, share, sector, announced, biggest, boeing, moves, making, report


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Stocks making the biggest moves midday: Qualcomm, Morgan Stanley, CSX & more

Morgan Stanley — Morgan Stanley rose 2.6% after the bank reported better-than-expected first-quarter earnings, driven by its wealth management and fixed-income trading businesses. The company reported earnings of $1.33 per share, 16 cents above a Refinitiv estimate. CSX — Shares of the rail transportation company rose 4% after the company reported strong first-quarter earnings. Abbott Laboratories — Shares of Abbott Laboratories were down 4.6% on Wednesday afternoon despite posting first-quarter


Morgan Stanley — Morgan Stanley rose 2.6% after the bank reported better-than-expected first-quarter earnings, driven by its wealth management and fixed-income trading businesses. The company reported earnings of $1.33 per share, 16 cents above a Refinitiv estimate. CSX — Shares of the rail transportation company rose 4% after the company reported strong first-quarter earnings. Abbott Laboratories — Shares of Abbott Laboratories were down 4.6% on Wednesday afternoon despite posting first-quarter
Stocks making the biggest moves midday: Qualcomm, Morgan Stanley, CSX & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: fred imbert, paul marotta, getty images
Keywords: news, cnbc, companies, revenue, morgan, refinitiv, moves, earnings, midday, stanley, reported, stocks, company, analysts, csx, firstquarter, rose, share, making, biggest, cents, qualcomm


Stocks making the biggest moves midday: Qualcomm, Morgan Stanley, CSX & more

Check out the companies making headlines midday Wednesday:

Qualcomm — Qualcomm surged 12.3%, adding to Tuesday’s gains after news broke that the chipmaker reached a settlement with Apple over their royalty dispute, dropping all legal action between the two companies worldwide. The settlement included a payment from Apple to Qualcomm as well as a chipset supply agreement. The news sent Qualcomm stocks soaring 23% on Tuesday. This pushed analysts at Stifel, J.P. Morgan and Evercore ISI to upgrade Qualcomm.

Morgan Stanley — Morgan Stanley rose 2.6% after the bank reported better-than-expected first-quarter earnings, driven by its wealth management and fixed-income trading businesses. The company reported earnings of $1.33 per share, 16 cents above a Refinitiv estimate.

CSX — Shares of the rail transportation company rose 4% after the company reported strong first-quarter earnings. CSX earned $1.02 per share, topping a 91 cent estimate from Refinitiv. CSX’s revenue also beat expectations.

Netflix —Netflix fell as much as 1.9% on Wednesday afternoon after the streaming service posted first-quarter revenue that beat analysts’ estimates, but also warned that it expected light second-quarter guidance. The stock closed down 1.3% on the day.

Bank of New York Mellon — The bank’s stock tumbled more than 9% on quarterly numbers that disappointed investors. Bank of New York Mellon reported a profit of 94 cents per share, 2 cents below a Refinitiv estimate. The company’s revenue also missed expectations. Net interest margin, a key metric watched by investors, came in at 1.2%. Analysts polled by FactSet expected a print of 1.26%.

Abbott Laboratories — Shares of Abbott Laboratories were down 4.6% on Wednesday afternoon despite posting first-quarter earnings that beat analysts’ expectations. The pharmaceutical posted adjusted earnings of 63 cents per share on revenue of $7.54 billion, surpassing analyst expectations of 61 cents per share on revenue of $7.47 billion.

PepsiCo — Shares of the beverage and snack company rose 3.8% after it beat Wall Street’s estimates in its first-quarter financial report. Pepsi reported earnings per share of 97 cents, while analysts polled by Refinitiv expected a profit of 92 cents.

IBM — IBM fell 4.2% after the company’s first-quarter revenue came in short of analyst expectations. IBM reported revenue of $18.18 billion, $280 million lower below a Refinitiv estimate. IBM’s revenue was also down nearly 5% year over year.

Interactive Brokers — Interactive Brokers Group rose as much as 2.1% on the back of stronger-than-expected quarterly results. The company posted a profit of 64 cents per share, well above a Refinitiv estimate of 53 cents per share. The stock later closed down 2.1%, however.

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


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: fred imbert, paul marotta, getty images
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Stocks in Asia advance; BOJ chief flags concerns over trade protectionism

Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading. Over in South Kore


Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook. The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading. Over in South Kore
Stocks in Asia advance; BOJ chief flags concerns over trade protectionism Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: eustance huang
Keywords: news, cnbc, companies, chief, concerns, flags, stocks, protectionism, shares, respectively, kumho, softbank, sectors, index, trade, jumped, rose, boj, advance, shenzhen, asia


Stocks in Asia advance; BOJ chief flags concerns over trade protectionism

Stocks in Asia were mostly higher on Tuesday, as U.S.-Japan trade talks kicked off and the Bank of Japan chief flagged risks of increasing trade protectionism to the global economic growth outlook.

The Nikkei 225 in Japan rose 0.24 percent to close at 22,221.66, with shares of index heavyweights Fast Retailing and Softbank Group advancing 2.32 percent and 1.27 percent, respectively. The Topix index, however, slipped fractionally to end its trading day at 1,626.46.

Shares of Japanese telcos Softbank Corp and NTT Docomo jumped 3.05 percent and 3.56 percent, respectively, after the latter announced price cuts that were smaller than expected.

Shares in mainland China jumped on the day, with the Shanghai composite gaining 2.39 percent to about 3,253.60 and the Shenzhen component adding about 2.33 percent to around 10,287.64. The Shenzhen composite also advanced 2.095 percent to approximately 1,760.02.

Resilience in the property market would provide some cushion for China’s economy as sectors such as manufacturing and retail are hit by trade war tensions and weak consumer confidence, Reuters reported.

Average new home prices in China rose faster in March as compared to February, according to Reuters’ calculation of data released by the National Bureau of Statistics on Tuesday.

In Hong Kong, the Hang Seng index added more than 0.8 percent, as of its final hour of trading.

Over in South Korea, the Kospi closed 0.26 percent higher at 2,248.63, as shares of Asiana Airlines surged 16.07 percent.

The top shareholder of Asiana Airlines, Kumho Industrial, said on Monday it would sell its entire stake in the debt-ridden carrier to keep it afloat, Reuters reported. That followed weeks of financial uncertainty after the carrier failed to win auditors’ sign-off on its 2018 financial statements, which triggered warnings of credit ratings downgrades, according to the Reuters report. For its part, Kumho Industrial saw its stock jump 6.62 percent.

In Australia, the ASX 200 gained 0.42 percent to close at 6,277.40, as most sectors advanced.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: eustance huang
Keywords: news, cnbc, companies, chief, concerns, flags, stocks, protectionism, shares, respectively, kumho, softbank, sectors, index, trade, jumped, rose, boj, advance, shenzhen, asia


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Stocks making the biggest moves: Johnson & Johnson, Western Digital, Bank of America & more

Check out the companies making headlines midday Thursday:Johnson & Johnson — Johnson & Johnson rose 1.1% after the company reported quarterly results that beat analyst estimates. Netflix — Shares of Netflix rose 3% after Deutsche Bank upgraded the streaming company’s rating to buy from hold. “Netflix is becoming more of a cultural necessity for people around the world,” Deutsche Bank analyst Bryan Kraft wrote in a note. Western Digital — An analyst at Deutsche Bank upgraded the Western digital t


Check out the companies making headlines midday Thursday:Johnson & Johnson — Johnson & Johnson rose 1.1% after the company reported quarterly results that beat analyst estimates. Netflix — Shares of Netflix rose 3% after Deutsche Bank upgraded the streaming company’s rating to buy from hold. “Netflix is becoming more of a cultural necessity for people around the world,” Deutsche Bank analyst Bryan Kraft wrote in a note. Western Digital — An analyst at Deutsche Bank upgraded the Western digital t
Stocks making the biggest moves: Johnson & Johnson, Western Digital, Bank of America & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: fred imbert, adam jeffery
Keywords: news, cnbc, companies, moves, america, deutsche, shares, western, bank, stocks, rose, estimates, stock, analyst, company, earnings, biggest, making, johnson, digital


Stocks making the biggest moves: Johnson & Johnson, Western Digital, Bank of America & more

Check out the companies making headlines midday Thursday:

Johnson & Johnson — Johnson & Johnson rose 1.1% after the company reported quarterly results that beat analyst estimates. The company posted earnings of $2.10 per share, 7 cents higher than expected amid strong prescription drug sales. Johnson & Johnson’s revenue also topped expectations. The multinational also narrowed their 2019 fiscal year earnings guidance to $8.53-$8.63, while analysts estimate earnings of $8.58 per share.

BlackRock — Shares of the world’s largest asset manager rose over 3% after it beat estimates on its first-quarter profit. BlackRock’s total assets rose 3% year-over-year to $6.52 trillion.

Netflix — Shares of Netflix rose 3% after Deutsche Bank upgraded the streaming company’s rating to buy from hold. The bank cited the stock’s valuation and conservative consensus subscriber estimates for the upgrade. “Netflix is becoming more of a cultural necessity for people around the world,” Deutsche Bank analyst Bryan Kraft wrote in a note.

J.B. Hunt Transport Services — Shares of the trucking and transportation company dropped nearly 5% after it missed Wall Street estimates in its first quarter earnings. J.B. Hunt reported $1.09 earnings per share, compared to Refinitiv’s estimated $1.26. The company cited bad weather in the Midwest as the cause of its low volume.

UnitedHealth Group — UnitedHealth Group dropped 4% after CEO David Wichmann warned that “Medicare for All” proposals pushed by Democratic lawmakers and presidential candidates would “destabilize the nation’s health system.”

Chevron — The energy giant’s stock rose 0.9% after a court ruled that Chevron does not have to pay $9.5 billion to the Ecuadorian government in a pollution-related case.

Western Digital — An analyst at Deutsche Bank upgraded the Western digital to buy from hold, citing an attractive valuation and conservative subscriber estimates. The company’s stock rose 4.7%.

KAR Auction Services — Activist investor Jeffrey Smith unveiled a stake in the car auction company, sending its stock up more than 2%.

Bank of America — The banking giant’s stock rose 0.1% after reporting better-than-expected earnings. However, CFO Paul Donofrio said annual net interest income would grow at about half the pace it did in 2018.

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


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: fred imbert, adam jeffery
Keywords: news, cnbc, companies, moves, america, deutsche, shares, western, bank, stocks, rose, estimates, stock, analyst, company, earnings, biggest, making, johnson, digital


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Stocks making the biggest moves midday: Tesla, Fastenal, Bed Bath & Beyond & more

Apogee Enterprises — Shares of Apogee Enterprises dropped 6.3% after the maker of architectural glass for buildings reported weaker-than-expected quarterly earnings. The company posted adjusted earnings per share of 85 cents, 6 cents below a Refinitiv estimate. Bed Bath & Beyond — Shares of Bed Bath & Beyond plummeted 8.8% after the retailer posted a bigger-than-expected contraction in same-store sales while investors call for leadership changes. Fastenal — The industrial supplies company rose 5


Apogee Enterprises — Shares of Apogee Enterprises dropped 6.3% after the maker of architectural glass for buildings reported weaker-than-expected quarterly earnings. The company posted adjusted earnings per share of 85 cents, 6 cents below a Refinitiv estimate. Bed Bath & Beyond — Shares of Bed Bath & Beyond plummeted 8.8% after the retailer posted a bigger-than-expected contraction in same-store sales while investors call for leadership changes. Fastenal — The industrial supplies company rose 5
Stocks making the biggest moves midday: Tesla, Fastenal, Bed Bath & Beyond & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: fred imbert, luke sharrett, bloomberg
Keywords: news, cnbc, companies, cents, shares, fastenal, bed, tesla, share, sale, report, bath, reported, moves, making, rose, earnings, midday, stocks, biggest, company, posted


Stocks making the biggest moves midday: Tesla, Fastenal, Bed Bath & Beyond & more

Check out the companies making headlines midday Thursday:

Chipotle Mexican Grill — Shares of Chipotle fell 1.6% after Jefferies lowered the stock’s rating to hold from buy on Thursday, saying the restaurant chain’s “valuation is full.” Chipotle’s shares have climbed 65% since the start of the year.

Tesla —Tesla dipped 2.8% after a report said the automaker and partner Panasonic have paused expansion for their Nevada Gigafactory, as investors grow increasingly wary of Tesla’s ability to create demand for its vehicles.

Apogee Enterprises — Shares of Apogee Enterprises dropped 6.3% after the maker of architectural glass for buildings reported weaker-than-expected quarterly earnings. The company posted adjusted earnings per share of 85 cents, 6 cents below a Refinitiv estimate.

Caesars Entertainment — The casino operator rose about 3.9% after the New York Post reported the company is gearing up to put itself for sale. Investor Carl Icahn has been pushing for the company’s sale, according to the Post.

Macom Technology Solutions — Macom shares plummeted 11.3% after the semiconductor supplier announced CFO Robert McMullan had resigned. McMullan is leaving his role for personal reasons, according to the company.

Bed Bath & Beyond — Shares of Bed Bath & Beyond plummeted 8.8% after the retailer posted a bigger-than-expected contraction in same-store sales while investors call for leadership changes. The company said it named Patrick Gaston lead independent director and that it “plans to announce additional changes to the Board, governance structure and compensation practices in the near future.” The company also posted its first annual loss ever.

Yeti Holdings — Yeti shares were up 6% after investment firm Cowen started coverage of the beverage holder company with an outperform rating and a 12-month price target of $35 per share.

Fastenal — The industrial supplies company rose 5.1% on the back of better-than-expected earnings. Fastenal reported earnings of 68 cents per share, 1 cent higher than expected.

Keurig Dr Pepper — The beverage company fell 4.2% after Morgan Stanley downgraded its stock to underweight from equal-weight, noting penetration in the single-serve coffee market is decreasing.

—CNBC’s Matt Lavietes , Nadine El-Bawab , Jessica Bursztynsky and Isabel Soisson contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: fred imbert, luke sharrett, bloomberg
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China’s consumer inflation driven to 5-month high as pork prices rise

China’s March consumer inflation rose to a five-month high due to rising food prices, data from the country’s National Bureau of Statistics released Thursday showed. Consumer price index (CPI) in March rose 2.3 percent from a year ago — the quickest pace since October 2018. It was lower than the 2.4 percent rise forecast by economists Reuters polled, but higher than February’s 1.5 percent increase. Food CPI was up 4.1 percent on year in March, up sharply from a 0.7 on-year rise in February due t


China’s March consumer inflation rose to a five-month high due to rising food prices, data from the country’s National Bureau of Statistics released Thursday showed. Consumer price index (CPI) in March rose 2.3 percent from a year ago — the quickest pace since October 2018. It was lower than the 2.4 percent rise forecast by economists Reuters polled, but higher than February’s 1.5 percent increase. Food CPI was up 4.1 percent on year in March, up sharply from a 0.7 on-year rise in February due t
China’s consumer inflation driven to 5-month high as pork prices rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: huileng tan, chinafotopress, getty images
Keywords: news, cnbc, companies, rise, high, cpi, ppi, china, price, rose, chinas, driven, trade, prices, 5month, pork, consumer, inflation


China's consumer inflation driven to 5-month high as pork prices rise

China’s March consumer inflation rose to a five-month high due to rising food prices, data from the country’s National Bureau of Statistics released Thursday showed.

Consumer price index (CPI) in March rose 2.3 percent from a year ago — the quickest pace since October 2018. It was lower than the 2.4 percent rise forecast by economists Reuters polled, but higher than February’s 1.5 percent increase.

Food CPI was up 4.1 percent on year in March, up sharply from a 0.7 on-year rise in February due to a seasonal rise in vegetable prices and an on-year rise in pork prices, said the statistics bureau. Farmers in China have been culling their hogs in a bid to stem the spread of African swine fever, driving up pork prices.

Non-food CPI was 1.8 percent, little changed from February’s 1.7 percent rise on-year.

Producer price inflation (PPI) picked up for the first time in nine months, easing deflation fears amid China’s bilateral trade war with the U.S.

China’s PPI — a gauge of industrial profitability — rose 0.4 percent from a year ago in March. It came in line with expectations of analysts polled by Reuters. February PPI was up 0.1 percent on-year.

“I don’t think inflation is the focus right now of the central bank in China. They’ve got huge capacity; in fact, they’ve got overcapacity in most sectors,” said Andrew Collier, managing director of Hong Kong-based Orient Capital Research, citing the global economic climate and domestic liquidity concerns as Beijing’s key issues.

Even though food inflation was higher, price increases were still mostly in control, Collier told CNBC’s “Street Signs on Thursday.

However, Nomura said the People’s Bank of China may ease monetary policy to reach the government’s 3.0 percent inflation target in 2019.

“The acceleration of CPI inflation comes mainly from pork prices rather than a general rise in prices and, unless inflationary pressures spread to other areas, the central bank will more likely look through the cyclical acceleration in pork prices and continue to support the economic growth via its monetary policy easing bias through the rest of this year,” the Nomura economists wrote in a note on Thursday.

The world’s second-largest economy is being closely watched for signs of damage stemming from the trade war between Washington and Beijing.

Treasury Secretary Steven Mnuchin said that the U.S. and China are making progress on a trade deal — including a mechanism for enforcing the terms of any agreement.

Mnuchin made those comments to Sara Eisen on CNBC’s The Exchange on Wednesday, though he did not elaborate on what an enforcement mechanism would look like.

— Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-11  Authors: huileng tan, chinafotopress, getty images
Keywords: news, cnbc, companies, rise, high, cpi, ppi, china, price, rose, chinas, driven, trade, prices, 5month, pork, consumer, inflation


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Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more

Check out the companies making headlines midday Wednesday:Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with a “renewed focus on driving profitability.” Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company’s value


Check out the companies making headlines midday Wednesday:Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with a “renewed focus on driving profitability.” Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company’s value
Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yun li, spencer platt, getty images
Keywords: news, cnbc, companies, target, buy, companys, biggest, vehicles, analysts, shares, price, rose, midday, making, tesla, stocks, moves, solar, tax, armour, lyft


Stocks making the biggest moves midday: Under Armour, Tesla, Lyft, First Solar & more

Check out the companies making headlines midday Wednesday:

Under Armour — Shares of Under Armour rose more than 3% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is “growing up” with a “renewed focus on driving profitability.”

Tesla — Shares of Tesla rose more than 1% after lawmakers began to push to expand federal tax credits for buyers of electric vehicles. A bipartisan group of lawmakers aims to grant each automaker $7,000 in additional tax credits for an additional 400,000 vehicles after it exhausts the first 200,000 vehicles eligible for the tax credit as per existing laws.

Lyft — Shares of Lyft tumbled nearly 11% following skepticism of the company’s value amidst reports that rival Uber will unveil its public offering on Thursday. New York University professor Aswath Damodaran said Tuesday on CNBC that shares should be trading closer to $59 per share, cutting down $3 billion off the ride-sharing company’s $18 billion valuation. Investors also expect some competition on the public markets very soon from Uber.

First Solar — Shares of First Solar soared more than 8%, on pace for its best day of the year, after Goldman Sachs added the stock to its “Americas Conviction List,” while reiterating its buy rating and raising the stock’s price target to $75 from $64. Goldman highlighted the strong demand from the utility and commercial end markets.

JD.com — Shares of JD.com fell more than 2% after reports came out Wednesday that the Chinese e-commerce company plans to cut up to eight percent of its workforce, or 12,000 jobs. JD spokesperson declined to comment on the job cuts, saying that the company was getting back to “its entrepreneurial roots,” according to the reports.

Advanced Micro Devices – Shares of AMD rose more than 2% after Cowen raised its 12-month price target on the semiconductor to $33 from $28. Cowen analysts said they are “increasingly confident” in Advanced Micro Devices’ product launches this year and its “competitive positioning” against rival Intel.

AmerisourceBergen — Shares of AmerisourceBergen fell more than 4% after analysts from Bank of America downgraded the stock to underperform from buy and lowered the 12-month price target to $76 from $95. Analysts at the bank cited uncertainty for the drug wholesale industry and recent challenges to the company’s biggest customer, Walgreens, for the downgrade.

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


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: yun li, spencer platt, getty images
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S&P 500 rises as ‘majority’ of Fed sees no change in rates this year

The S&P 500 rose slightly on Wednesday, as the Federal Reserve reaffirmed that it would keep rates unchanged this year. The S&P 500 finished the day up 0.4% while the Nasdaq composite ended 0.7% higher. The Federal Reserve released the minutes of its March monetary policy meeting at 2 p.m. Last month, the U.S. central bank decided to maintain interest rates and hold off an any further increases this year. “We’ve agreed that both sides will establish enforcement offices that will deal with the on


The S&P 500 rose slightly on Wednesday, as the Federal Reserve reaffirmed that it would keep rates unchanged this year. The S&P 500 finished the day up 0.4% while the Nasdaq composite ended 0.7% higher. The Federal Reserve released the minutes of its March monetary policy meeting at 2 p.m. Last month, the U.S. central bank decided to maintain interest rates and hold off an any further increases this year. “We’ve agreed that both sides will establish enforcement offices that will deal with the on
S&P 500 rises as ‘majority’ of Fed sees no change in rates this year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: michael sheetz, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, sp, majority, rates, rises, interest, minutes, change, reserve, 500, outlook, sees, fed, leaving, unchanged, rose, mnuchin


S&P 500 rises as 'majority' of Fed sees no change in rates this year

The S&P 500 rose slightly on Wednesday, as the Federal Reserve reaffirmed that it would keep rates unchanged this year.

The Dow Jones industrial average pared small early gains, ending the day 7 points higher. Boeing shares weighed on the Dow, falling 1.1%, while Goldman Sachs rose 1.1%, leading the index. The S&P 500 finished the day up 0.4% while the Nasdaq composite ended 0.7% higher.

The Federal Reserve released the minutes of its March monetary policy meeting at 2 p.m. ET. Last month, the U.S. central bank decided to maintain interest rates and hold off an any further increases this year.

“A majority of participants expected that the evolution of the economic outlook and risks to the outlook would likely warrant leaving the target range unchanged for the remainder of the year,” the minutes said.

The minutes revealed that Fed officials are leaving room for possible interest rate increase by the end of the year but currently do not expect to make any changes.

In regard to closely-watched trade negotiations, Treasury Secretary Steven Mnuchin told CNBC that the U.S. and China have “pretty much agreed on an enforcement mechanism” for when a deal is struck.

“We’ve agreed that both sides will establish enforcement offices that will deal with the ongoing matters,” Mnuchin said.


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: michael sheetz, andrew harrer, bloomberg, getty images
Keywords: news, cnbc, companies, sp, majority, rates, rises, interest, minutes, change, reserve, 500, outlook, sees, fed, leaving, unchanged, rose, mnuchin


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Levi Strauss swings to profit in its first earnings release since IPO

Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month. Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years. Blue jeans giant Levi Strauss & Co. began tra


Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month. Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years. Blue jeans giant Levi Strauss & Co. began tra
Levi Strauss swings to profit in its first earnings release since IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: maggie fitzgerald, lucas jackson
Keywords: news, cnbc, companies, share, york, profit, prior, went, earnings, stock, public, rose, ipo, swings, levi, strauss, release, trading


Levi Strauss swings to profit in its first earnings release since IPO

Shares of Levi Strauss & Co. rose in extended trading Tuesday after the world’s biggest jeans seller reported its first quarterly earnings since its initial public offering on the New York Stock Exchange last month.

For the first quarter, Levi said it swung to earnings of $146.6 million, or 37 cents per share, from a loss of $19 million or 5 cents a share, a year ago. The year ago period included a tax-related charge.

Revenue rose 7% to $1.44 billion from the prior period. It was up 11% on a constant currency basis.

There weren’t any estimates from Wall Street analysts for this quarter.

“Growth was broad-based across all three regions and all channels, demonstrating that our strategies are working and our investments are paying off,” said Chip Bergh, its president and CEO in a press release.

Levi reiterated its previous forecast, saying it expects revenue for the full year to rise by a mid-single digit percentage rate.

Levi Strauss went public a second time on March 21, 2019 in order to give its owners a chance to cash out on some of their holdings. The 166-year old company first went public in 1971, but has been a private company for the last 34 years.

Blue jeans giant Levi Strauss & Co. began trading at $22.22 a share, after having priced its initial public offering at $17 a share the night prior. The stock surged more than 30% on its first day of trading.

Levi closed at $21.88 on Tuesday. The stock is up more than 25 percent since its first day of trading on the New York Stock Exchange.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: maggie fitzgerald, lucas jackson
Keywords: news, cnbc, companies, share, york, profit, prior, went, earnings, stock, public, rose, ipo, swings, levi, strauss, release, trading


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