As financials flail, one banking stock could be about to break out

The sector has tumbled 9 percent over the past year, by far the worst-performing S&P 500 sector over that stretch. But there is one name in the group that is setting up for a breakout, said Todd Gordon, founder of TradingAnalysis.com. “One financial that I do like is Bank of America,” Gordon said Wednesday on CNBC’s “Trading Nation.” I will add to my holding in Bank despite the financials weakness in the S&P so this is one strong name that I do like.” Then you throw in earnings, positive earning


The sector has tumbled 9 percent over the past year, by far the worst-performing S&P 500 sector over that stretch. But there is one name in the group that is setting up for a breakout, said Todd Gordon, founder of TradingAnalysis.com. “One financial that I do like is Bank of America,” Gordon said Wednesday on CNBC’s “Trading Nation.” I will add to my holding in Bank despite the financials weakness in the S&P so this is one strong name that I do like.” Then you throw in earnings, positive earning
As financials flail, one banking stock could be about to break out Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: keris lahiff, dennis caruso, new york daily news, getty images, spencer platt, scott mlyn, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, earnings, standpoint, break, stock, sector, flail, im, financials, xlf, america, bank, bapis, sp, gordon, banking


As financials flail, one banking stock could be about to break out

Financials are in a funk.

The sector has tumbled 9 percent over the past year, by far the worst-performing S&P 500 sector over that stretch.

But there is one name in the group that is setting up for a breakout, said Todd Gordon, founder of TradingAnalysis.com.

“One financial that I do like is Bank of America,” Gordon said Wednesday on CNBC’s “Trading Nation.” “Obviously you have a very nice uptrend here, you’ve broken resistance, we’ve come back to test support.”

“There is a nice kind of level right here at about the $30 region,” Gordon said. “There’s a lot of open interest here. If we can sometimes get a push – and help from the broader market would certainly help – there’s sure to be a lot of stop-loss buying going off in Bank of America. I will add to my holding in Bank despite the financials weakness in the S&P so this is one strong name that I do like.”

Bank of America needs to rally around 5 percent to push through $30. The stock has not traded above that level since October.

The sector is a long-term buy even if it continues to underperform in the short term, said Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management.

“Banks are stronger than ever from a balance sheet standpoint, from a risk standpoint, they’re taking less risk than they ever have, and from a cash standpoint. Then you throw in earnings, positive earnings and low PEs for many of the banks,” Bapis said Wednesday on “Trading Nation.”

The XLF financial ETF trades at below 12 times forward earnings, while the S&P 500 trades at a 16.5 times multiple.

“This is just a forgotten sector that people have put aside and it is going to snap back at some point in the future,” said Bapis. “I’m positive on the space long term. I’m very surprised that it has taken this long but if we’re taking a long-term perspective for our clients, I’m fine waiting 18 months for it to bounce back.”

The XLF ETF has risen 10 percent this year, below the S&P 500’s 13 percent advance.

Disclosure: Todd Gordon owns shares of Bank of America.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: keris lahiff, dennis caruso, new york daily news, getty images, spencer platt, scott mlyn, kcna, thomas barwick getty images, source, lawrence mcdonald
Keywords: news, cnbc, companies, earnings, standpoint, break, stock, sector, flail, im, financials, xlf, america, bank, bapis, sp, gordon, banking


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves after hours: Nike, Cintas, GameStop and more

Check out the companies making headlines after the bell:Shares of Nike dropped more than 3 percent in extending trading Thursday following the release of the retailers better-than-expected third-quarter earnings results. Nike posted earnings per share of 68 cents, beating estimates of 65 cents, according to Refinitiv. Cintas shares dipped as much as 3 percent after hours Thursday on mixed third-quarter earnings. GameStop shares popped slightly in extended trading on news that the gaming company


Check out the companies making headlines after the bell:Shares of Nike dropped more than 3 percent in extending trading Thursday following the release of the retailers better-than-expected third-quarter earnings results. Nike posted earnings per share of 68 cents, beating estimates of 65 cents, according to Refinitiv. Cintas shares dipped as much as 3 percent after hours Thursday on mixed third-quarter earnings. GameStop shares popped slightly in extended trading on news that the gaming company
Stocks making the biggest moves after hours: Nike, Cintas, GameStop and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: maggie fitzgerald, spencer platt, getty images
Keywords: news, cnbc, companies, thirdquarter, making, gamestop, sherman, cintas, share, nike, company, hours, cents, moves, stocks, biggest, billion, standard, earnings, trading, revenue


Stocks making the biggest moves after hours: Nike, Cintas, GameStop and more

Check out the companies making headlines after the bell:

Shares of Nike dropped more than 3 percent in extending trading Thursday following the release of the retailers better-than-expected third-quarter earnings results. Nike posted earnings per share of 68 cents, beating estimates of 65 cents, according to Refinitiv. Revenue came in-line with Wall Street’s expectations at $9.61 billion. The stock was down on weaker-than-expected sales growth in North America.

Cintas shares dipped as much as 3 percent after hours Thursday on mixed third-quarter earnings. The business services company reported $1.68 billion in revenue, slightly missing estimates of $1.69 billion. Earnings per share were $1.84, beating the $1.71 forecast by analysts surveyed by Refinitiv.

Shares of Caleres fell more than 6 percent after market close Thursday following weak fourth-quarter earnings. The footwear company missed on the top and bottom lines. Caleres posted earnings per share of 38 cents on revenues of $720 million. Analysts forecast earnings per share of 45 cents on revenues of $738 million, according to Refinitiv.

GameStop shares popped slightly in extended trading on news that the gaming company named George Sherman as its CEO, effective April 2019. Sherman succeeds Shane Kim, who has served as interim chief executive officer since May 2018. Sherman has leading rolls at retailers Best Buy, Target, and Home Depot.

Shares of Zuora fell more than 11 percent after hours after reporting fourth-quarter earnings. The enterprise software company’s total revenue grew 29 percent year-over-year. The company adopted a new revenue recognition standard that put first-quarter and full-year guidance below the outlook under the previous revenue recognition standard.


Company: cnbc, Activity: cnbc, Date: 2019-03-21  Authors: maggie fitzgerald, spencer platt, getty images
Keywords: news, cnbc, companies, thirdquarter, making, gamestop, sherman, cintas, share, nike, company, hours, cents, moves, stocks, biggest, billion, standard, earnings, trading, revenue


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Another bitcoin bull market is coming in 2019, says Fundstrat’s Tom Lee

2019 could mark the return of bitcoin, according to one bitcoin bull. The CME bitcoin futures curve is up nearly 6 percent year to date but has also fallen significantly from the 2017 peak. But Fundstrat Global Advisors strategist and known bitcoin bull Tom Lee — who in December valued bitcoin between $13,800 and $14,800 — says this year could bring about a comeback for the cryptocurrency, thanks to favorable macroeconomic trends. “We have a risk-on rally in global markets that’s positive for bi


2019 could mark the return of bitcoin, according to one bitcoin bull. The CME bitcoin futures curve is up nearly 6 percent year to date but has also fallen significantly from the 2017 peak. But Fundstrat Global Advisors strategist and known bitcoin bull Tom Lee — who in December valued bitcoin between $13,800 and $14,800 — says this year could bring about a comeback for the cryptocurrency, thanks to favorable macroeconomic trends. “We have a risk-on rally in global markets that’s positive for bi
Another bitcoin bull market is coming in 2019, says Fundstrat’s Tom Lee Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: lizzy gurdus, anthony wallace, afp, getty images, chris goodney, bloomberg, spencer platt, david a grogan
Keywords: news, cnbc, companies, market, coming, bitcoin, 2019, fundstrats, thats, price, trading, tom, think, really, bull, lee, bitcoins, digital, weve


Another bitcoin bull market is coming in 2019, says Fundstrat's Tom Lee

2019 could mark the return of bitcoin, according to one bitcoin bull.

The digital currency has had a difficult run since hitting its all-time high, sinking from its peak near $20,000 per coin in late 2017 to its current trading price of less than $4,000. The CME bitcoin futures curve is up nearly 6 percent year to date but has also fallen significantly from the 2017 peak.

But Fundstrat Global Advisors strategist and known bitcoin bull Tom Lee — who in December valued bitcoin between $13,800 and $14,800 — says this year could bring about a comeback for the cryptocurrency, thanks to favorable macroeconomic trends.

“I think 2019’s a year about repair,” Lee said Thursday on CNBC’s “Futures Now.” “We have a risk-on rally in global markets that’s positive for bitcoin; it was a headwind last year. And the dollar isn’t surging like it was last year. That’s a headwind that’s gone away.”

And while Lee also noticed that bitcoin’s technical indicators are stabilizing, with the digital currency managing to hold above its 200-week moving average, his thesis centered on the bigger picture.

“The real story is the fundamental one, that bitcoin’s becoming quite useful,” he said. “We’ve seen the launch of digital currencies by not only J.P. Morgan and Mizuho Bank, but also Facebook and some social media companies gearing up. And, of course, in places like Venezuela, where bitcoin’s become very large and widely used, turmoil is causing adoption growth. So I think these are really setting up for a strong … year.”

Increased awareness around cryptocurrencies may also bring them closer to becoming an official asset class, a shift that is already starting to take shape, Lee said.

“Fidelity’s launching digital custody. Bakkt is going to launch an exchange. We’ve already seen some high-profile endowments, and pension funds actually invest new money this year,” he said. “So I think, as an asset class, it’s still the earliest days, but I think it’s too glib to dismiss the macro.”

For the near term, Lee told prospective buyers to keep an eye on the 200-day moving average. If bitcoin maintains its current trading price around $4,000, “it’ll cross above its 200-day by August,” which could help it regain the ground it lost during its price collapse in late 2018, Lee said.

“I think the damage that needs to really be repaired is that collapse from $6,000 to $3,100, which came after the fork wars with Bitcoin Cash,” he said. “I think it really undermined investor confidence in sort of the dynamics around the market, so I think that bitcoin’s going to spend a lot of time below $6,000 sort of fixing itself.”

But that might not take too long, Lee said: “I think the outside window is five or six months before bitcoin starts to look technically like it’s back in a bull market.”

Disclosure: There is a possibility that Tom Lee and/or Fundstrat will from time to time have long or short positions in, and buy or sell, the securities or derivatives referred to in his research.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: lizzy gurdus, anthony wallace, afp, getty images, chris goodney, bloomberg, spencer platt, david a grogan
Keywords: news, cnbc, companies, market, coming, bitcoin, 2019, fundstrats, thats, price, trading, tom, think, really, bull, lee, bitcoins, digital, weve


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

David Stockman: Rally is ‘just day traders, chart monkeys,’ crash coming

It’s a subject that’s in his new book, “Peak Trump: The Undrainable Swamp and The Fantasy of MAGA.” “We hit peak Trump and peak market at 2,940 on the S&P back in September. I think that’s the peak for a long time to come, and I think Trump foolishly embraced the stock market,” Stockman added. He also emphasizes the record budget deficit as an unnerving headwind. “We should be having almost no deficit at the top of a business cycle,” Stockman said.


It’s a subject that’s in his new book, “Peak Trump: The Undrainable Swamp and The Fantasy of MAGA.” “We hit peak Trump and peak market at 2,940 on the S&P back in September. I think that’s the peak for a long time to come, and I think Trump foolishly embraced the stock market,” Stockman added. He also emphasizes the record budget deficit as an unnerving headwind. “We should be having almost no deficit at the top of a business cycle,” Stockman said.
David Stockman: Rally is ‘just day traders, chart monkeys,’ crash coming Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: stephanie landsman, chris goodney, bloomberg, getty images, spencer platt, daniel acker, david a grogan
Keywords: news, cnbc, companies, think, crash, deficit, traders, coming, thats, going, monkeys, market, peak, day, budget, trump, cycle, rally, chart, david, stockman


David Stockman: Rally is 'just day traders, chart monkeys,' crash coming

David Stockman: Market’s bounce off low ‘has nothing to do with rationality’ 20 Hours Ago | 01:31

Not even a 20 percent rebound off the December low is changing David Stockman’s bearish prognosis for the stock market.

Stockman, who served as President Ronald Reagan’s director of Office of Management and Budget, suggests fundamentals are not driving the 2019 rally.

“This is just day traders, chart monkeys, robo machines. This has nothing to do with rationality or investment analysis on any reasonable time basis,” Stockman said Tuesday on CNBC’s “Futures Now.” “There’s no Trump boom. We’re near the end of this cycle. Recessions haven’t been outlawed. It will happen in the next year or two.”

It’s a subject that’s in his new book, “Peak Trump: The Undrainable Swamp and The Fantasy of MAGA.”

“We hit peak Trump and peak market at 2,940 on the S&P back in September. I think that’s the peak for a long time to come, and I think Trump foolishly embraced the stock market,” Stockman added.

He sees the S&P 500 plunging to 1,600 or lower — a more than 40 percent drop from current levels.

For years, Stockman has been warning investors a sell-off of that magnitude is inevitable. Two years ago, he predicted a “horrendous storm” would hit stocks. It never happened. Last year, he called it a “daredevil market.”

Yet, he’s unwavering in his bearish case.

“We’ve got headwinds coming from all over the world, and you can see it in the export data, in the European economy, in the big troubles going on in China, [and] you can see it in our own data, which has been really weak,” said Stockman.

He also emphasizes the record budget deficit as an unnerving headwind.

“It is a huge risk. I mean it’s actually crazy time that this market and Washington, both ends of the Acela corridor, are totally ignoring,” Stockman said. “We’re going to go into a fiscal crisis in the 2020s when the entire baby boomers are retiring and Social Security and Medicare are soaring that we won’t come out of. That’s the big elephant in the room.”

According to Stockman, President Donald Trump’s budget released this week reinforces and underscores how bad the deficit has gotten.

“We should be having almost no deficit at the top of a business cycle,” Stockman said. “We have a serious problem of unhinged central banking, and we have a Washington that has totally been euthanized by cheap yields on the debt. And, they pretend you can borrow $4 trillion at the top of a business cycle and live to tell about it.”

He contends a resolution to the U.S.-China trade war wouldn’t alter his negative view.

“The idea that somehow there is going to be a China deal and that will make everything better, I think, is laughable,” Stockman said.

Asked about Stockman’s comments, White House deputy press secretary Lindsay Walters said via email: “Due to the President’s pro growth policies the economy is booming. More people are employed today than previously were and more jobs are remaining on our shores. The President’s budget calls for economic policies that drive down the deficit and continue to bring prosperity to all Americans.”


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: stephanie landsman, chris goodney, bloomberg, getty images, spencer platt, daniel acker, david a grogan
Keywords: news, cnbc, companies, think, crash, deficit, traders, coming, thats, going, monkeys, market, peak, day, budget, trump, cycle, rally, chart, david, stockman


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dramatic monetary policy reversals shouldn’t spark jitters: Invesco

Central banks dramatically reversing their stances shouldn’t create so much unease: Invesco 6:01 PM ET Thu, 7 March 2019 | 02:06Invesco’s Kristina Hooper believes Wall Street’s preoccupation with the global growth slowdown is misguided. According to Hooper, significant shifts in central banks’ monetary policies are fanning those fears instead of giving the market confidence. “Now that we have the European Central Bank piling on, that raises questions about what’s going on. What are central banks


Central banks dramatically reversing their stances shouldn’t create so much unease: Invesco 6:01 PM ET Thu, 7 March 2019 | 02:06Invesco’s Kristina Hooper believes Wall Street’s preoccupation with the global growth slowdown is misguided. According to Hooper, significant shifts in central banks’ monetary policies are fanning those fears instead of giving the market confidence. “Now that we have the European Central Bank piling on, that raises questions about what’s going on. What are central banks
Dramatic monetary policy reversals shouldn’t spark jitters: Invesco Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-10  Authors: stephanie landsman, spencer platt, getty images, daniel acker, bloomberg, sean brophy, eyeem, david a grogan
Keywords: news, cnbc, companies, hooper, shouldnt, banks, central, reversals, dramatic, policy, thats, invesco, streets, jitters, slowdown, policies, bank, spark, questions, growth, monetary


Dramatic monetary policy reversals shouldn't spark jitters: Invesco

Central banks dramatically reversing their stances shouldn’t create so much unease: Invesco 6:01 PM ET Thu, 7 March 2019 | 02:06

Invesco’s Kristina Hooper believes Wall Street’s preoccupation with the global growth slowdown is misguided.

But she understands why there’s worry.

According to Hooper, significant shifts in central banks’ monetary policies are fanning those fears instead of giving the market confidence. She suggests it’s creating more questions than answers — and that’s a problem.

“I don’t think the slowdown is going to be that bad as we sit here today, and certainly that’s not what we got from the ECB [European Central Bank] in terms of their downgrade of growth forecasts,” the firm’s chief global market strategist said Thursday on CNBC’s “Futures Now.” “We’re not seeing any kind of major turmoil at this point.”

The latest shift came last week when the ECB slashed its growth forecasts and issued a warning about the “threat of protectionism.”

“Don’t forget that just a few months ago we heard from Jay Powell saying that balance sheet normalization would remain on autopilot. He changed rather dramatically,” said Hooper. “Now that we have the European Central Bank piling on, that raises questions about what’s going on. What are central banks worried about that is causing them to make rather dramatic pivots?”

Despite the Street’s negative reaction to the latest ECB’s growth comments, Hooper isn’t alarmed.

“Investors that have a long-term time horizon should use this as an opportunity,” she said.

She sees emerging markets catching a bid from more accommodative central bank policies. Hooper particularly likes emerging markets in Asia and China is a big piece of that despite the U.S. trade tensions.

“China is employing a lot of stimulus both monetary and fiscal,” said Hooper. “We could actually see signs of some improvement in economic data in China.”


Company: cnbc, Activity: cnbc, Date: 2019-03-10  Authors: stephanie landsman, spencer platt, getty images, daniel acker, bloomberg, sean brophy, eyeem, david a grogan
Keywords: news, cnbc, companies, hooper, shouldnt, banks, central, reversals, dramatic, policy, thats, invesco, streets, jitters, slowdown, policies, bank, spark, questions, growth, monetary


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

US Secretary of State is ‘hopeful’ for more talks with North Korea after Hanoi summit

U.S. Secretary of State Mike Pompeo said on Monday he was hopeful the United States would send a delegation to North Korea in the coming weeks, after talks between President Donald Trump and North Korean leader Kim Jong Un ended with no agreement. “I am hopeful, although I have no commitment yet, that we will be back at it, that I’ll have a team in Pyongyang in the next couple weeks,” Pompeo told the Iowa Farm Bureau. The two sides gave different reasons for the abrupt end in last week’s talks a


U.S. Secretary of State Mike Pompeo said on Monday he was hopeful the United States would send a delegation to North Korea in the coming weeks, after talks between President Donald Trump and North Korean leader Kim Jong Un ended with no agreement. “I am hopeful, although I have no commitment yet, that we will be back at it, that I’ll have a team in Pyongyang in the next couple weeks,” Pompeo told the Iowa Farm Bureau. The two sides gave different reasons for the abrupt end in last week’s talks a
US Secretary of State is ‘hopeful’ for more talks with North Korea after Hanoi summit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, summit, talks, nuclear, korean, sanctions, hopeful, told, weeks, pompeo, secretary, hanoi, korea, north, state, trump


US Secretary of State is 'hopeful' for more talks with North Korea after Hanoi summit

U.S. Secretary of State Mike Pompeo said on Monday he was hopeful the United States would send a delegation to North Korea in the coming weeks, after talks between President Donald Trump and North Korean leader Kim Jong Un ended with no agreement.

The leaders’ second summit in the Vietnamese capital of Hanoi collapsed last week without any agreement or immediate plan for a third meeting between them, or their delegations.

“I am hopeful, although I have no commitment yet, that we will be back at it, that I’ll have a team in Pyongyang in the next couple weeks,” Pompeo told the Iowa Farm Bureau.

“I’m continuing to work to find those places where there’s a shared interest.”

The two sides gave different reasons for the abrupt end in last week’s talks about denuclearization on the Korean Peninsula. Trump told reporters on Thursday that North Korea wanted all of the sanctions lifted in their entirety.

But North Korean foreign minister Ri Yong Ho disputed that claim during a midnight news conference, saying North Korea had asked only for a partial lifting of the sanctions in exchange for dismantling its main nuclear site at Yongbyon.

“We’ve been engaged in the fundamental proposition of trying to convince Chairman Kim, who is 35 years old, that the historic strategy which said that, absent nuclear weapons, North Korea will fall, that the government will fall, that it was their only way of achieving security for their country. And they trust that. They’re confident that that will protect them,” Pompeo said on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: spencer platt, getty images
Keywords: news, cnbc, companies, summit, talks, nuclear, korean, sanctions, hopeful, told, weeks, pompeo, secretary, hanoi, korea, north, state, trump


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Forget bitcoin, cannabis is the place to go, says US wealth advisor

Cannabis stocks are the “next huge growth area” and the plant has “staggering” possibilities for medical use, according to one advisor to wealthy families. The New York Stock Exchange and Nasdaq both listed cannabis companies in 2018 when Canopy Growth and the Cronos Group went public on the indexes. Canopy Growth stock has risen more than 65 percent year-to-date, while over the same period Cronos has risen more than 115 percent. “The medical applications for cannabis are staggering. The wealth


Cannabis stocks are the “next huge growth area” and the plant has “staggering” possibilities for medical use, according to one advisor to wealthy families. The New York Stock Exchange and Nasdaq both listed cannabis companies in 2018 when Canopy Growth and the Cronos Group went public on the indexes. Canopy Growth stock has risen more than 65 percent year-to-date, while over the same period Cronos has risen more than 115 percent. “The medical applications for cannabis are staggering. The wealth
Forget bitcoin, cannabis is the place to go, says US wealth advisor Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: david reid, spencer platt, getty images, cole burston
Keywords: news, cnbc, companies, medical, think, cannabis, forget, plant, stocks, place, staggering, stock, pepper, bitcoin, growth, advisor, risen, wealth


Forget bitcoin, cannabis is the place to go, says US wealth advisor

Cannabis stocks are the “next huge growth area” and the plant has “staggering” possibilities for medical use, according to one advisor to wealthy families.

“If you want to be in something that’s very growthy, and actually legitimate as it is legalized and controlled properly, I think this is the place to go,” Carol Pepper of Pepper International told CNBC’s “Squawk Box Europe” on Friday.

The New York Stock Exchange and Nasdaq both listed cannabis companies in 2018 when Canopy Growth and the Cronos Group went public on the indexes. Both firms are based in Canada, where recreational marijuana is now legal. Canopy Growth stock has risen more than 65 percent year-to-date, while over the same period Cronos has risen more than 115 percent.

Pepper said legalization in Canada had “blown through expectations” and the success had reached the point where firms based there were now exporting to Europe.

“The medical applications for cannabis are staggering. The research is being done and I really think this is next huge growth area,” she said, noting evidence of the drug’s efficacy in treatment of arthritis and epilepsy.

The wealth manager also rejected a suggestion that cannabis stocks would mirror the bitcoin frenzy, which saw asset prices spike to the highs of over $19,000 and crash to trade at around $3,940 currently , stating that cannabis is a physical product with defined benefits.

“I think it is a phenomenal plant that is going to a lot of good for the planet and I’m glad it is finally being legalized.”

Ten U.S. states and the District of Columbia have legalized the crop, even though federal law bans it.

Pepper predicted that big U.S. tobacco and drinks companies will take control of the industry once more legal prohibition is removed around the world.

WATCH: Six experts on the cannabis craze


Company: cnbc, Activity: cnbc, Date: 2019-02-22  Authors: david reid, spencer platt, getty images, cole burston
Keywords: news, cnbc, companies, medical, think, cannabis, forget, plant, stocks, place, staggering, stock, pepper, bitcoin, growth, advisor, risen, wealth


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

One analyst pulled down the Q4 revenue growth rate for the entire S&P 500

Because of the drastic cut by Meredith and the size and influence of Berkshire Hathaway, the S&P 500’s total blended revenue growth rate fell to 5.2 percent from 6.1 percent, dropping nearly a full percentage point. The blended rate takes into account companies that have already reported and estimates for those that haven’t released their numbers. Berkshire Hathaway is the fifth-biggest company in the S&P 500 by market value. According to Refinitiv, Meredith cut his estimate because of “the incl


Because of the drastic cut by Meredith and the size and influence of Berkshire Hathaway, the S&P 500’s total blended revenue growth rate fell to 5.2 percent from 6.1 percent, dropping nearly a full percentage point. The blended rate takes into account companies that have already reported and estimates for those that haven’t released their numbers. Berkshire Hathaway is the fifth-biggest company in the S&P 500 by market value. According to Refinitiv, Meredith cut his estimate because of “the incl
One analyst pulled down the Q4 revenue growth rate for the entire S&P 500 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: fred imbert, juan aruego, spencer platt, getty images
Keywords: news, cnbc, companies, analyst, growth, entire, berkshire, pulled, q4, rate, sp, revenue, meredith, cut, blended, fourthquarter, 500, hathaway


One analyst pulled down the Q4 revenue growth rate for the entire S&P 500

A single Wall Street analyst is responsible for skewing the revenue picture of the whole stock market.

UBS analyst Brian Meredith slashed his fourth-quarter revenue estimate for Berkshire Hathaway on Tuesday, bringing the consensus forecast down to $48.4 billion from $63.5 billion for the Warren Buffett-led company, according to data provider Refinitiv.

Because of the drastic cut by Meredith and the size and influence of Berkshire Hathaway, the S&P 500’s total blended revenue growth rate fell to 5.2 percent from 6.1 percent, dropping nearly a full percentage point. The blended rate takes into account companies that have already reported and estimates for those that haven’t released their numbers. Berkshire Hathaway is the fifth-biggest company in the S&P 500 by market value.

According to Refinitiv, Meredith cut his estimate because of “the inclusion of mark-to-market losses.” Berkshire Hathaway is scheduled to release its fourth-quarter results on Saturday morning.

Meredith’s revenue cut also erased the financials sector’s blended growth revenue rate. The consensus for revenue in financials is now for a decline of 3.2 percent from an expansion of 3.9 percent.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: fred imbert, juan aruego, spencer platt, getty images
Keywords: news, cnbc, companies, analyst, growth, entire, berkshire, pulled, q4, rate, sp, revenue, meredith, cut, blended, fourthquarter, 500, hathaway


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘Panic buying’ likely to drive stock market higher in the near term

Stocks could get a short-term boost as fear of missing out on gains leads more investors to plow more money into the U.S. equity market, analysts said. The S&P 500 rose more than 2 percent last week, posting its seventh weekly gain in the last eight. The surge in stocks comes as investors increasingly bet China and the U.S. will strike a trade deal in the near future. “It seems a ‘panic buying’ mood, with purchases by investors who had been lagging the broader market, has strengthened,” Masanari


Stocks could get a short-term boost as fear of missing out on gains leads more investors to plow more money into the U.S. equity market, analysts said. The S&P 500 rose more than 2 percent last week, posting its seventh weekly gain in the last eight. The surge in stocks comes as investors increasingly bet China and the U.S. will strike a trade deal in the near future. “It seems a ‘panic buying’ mood, with purchases by investors who had been lagging the broader market, has strengthened,” Masanari
‘Panic buying’ likely to drive stock market higher in the near term Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, near, panic, stocks, tightening, market, drive, investors, weekly, term, trade, weak, higher, week, trend, likely, stock, buying


'Panic buying' likely to drive stock market higher in the near term

Stocks could get a short-term boost as fear of missing out on gains leads more investors to plow more money into the U.S. equity market, analysts said.

The S&P 500 rose more than 2 percent last week, posting its seventh weekly gain in the last eight. The surge in stocks comes as investors increasingly bet China and the U.S. will strike a trade deal in the near future. It also follows the Federal Reserve signaling it will be patient in tightening monetary policy.

“It seems a ‘panic buying’ mood, with purchases by investors who had been lagging the broader market, has strengthened,” Masanari Takada, a cross-asset strategist at Nomura, said in a note Monday. “Systematic trend followers that had temporarily suspended buying after the weak US retail sales print have also been compelled to follow the market by adding fresh longs.”


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, near, panic, stocks, tightening, market, drive, investors, weekly, term, trade, weak, higher, week, trend, likely, stock, buying


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more

Check out the companies making headlines midday Thursday:Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-y


Check out the companies making headlines midday Thursday:Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-y
Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, earnings, estimates, company, marathon, mgm, stocks, biggest, aig, oil, share, midday, results, reported, quarterly, resorts, quarter, cents, making, moves, shares


Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more

Check out the companies making headlines midday Thursday:

Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Bloomin’ Brands posted earnings per share of 30 cents and revenue of $1.01 billion. Analysts polled by Refinitiv expected a profit of 26 cents a share on sales of $1.001 billion.

Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Avon’s profit of 7 cents a share was in line with a Refinitiv estimate. Sales of $1.402 billion missed expectations, however.

MGM Resorts — Shares of MGM fell 6.36 percent after the casino and resort operator reported a diluted loss per share of 6 cents in the current quarter compared to diluted earnings per share of $2.39 in the prior year quarter. MGM’s fourth-quarter earnings came in one cent above estimates. It also announced an eight percent dividend hike to 13 cents per share from 12 cents.

American International Group — AIG’s stock slid 9 percent after the insurance company posted an unexpected loss of 63 cents per share, after consensus forecasts had predicted a profit of 42 cents per share. Its results were hurt by weaker returns in the equity and credit markets.

Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-year. The oil producer also sees oil output rising 10 percent in 2019.

Six Flags Entertainment — The theme park operator sunk nearly 13 percent after the company missed Wall Street’s revenue expectations for fourth-quarter. The quarterly results were mixed though — profit was still well-above consensus expectations.

Sleep Number — Shares of mattress firm Sleep Number rose 14.7 percent Thursday after the company reported better-than-expected earnings and forecast a strong outlook for 2019. The Minneapolis-based company also reported a 13 percent increase in sales from a year ago.

Tempur Sealy – Despite issuing an earnings outlook largely below Wall Street estimates, Tempur Sealy has erased its premarket losses, and was up 2.9 percent. The Kentucky-based firm also posted weaker-than-expected earnings, but it did deliver stronger quarterly sales numbers than analysts anticipated.

Coca-Cola —Shares of Coca-Cola fell 8.44 percent after it released a disappointing growth forecast for 2019. The company reported that it has been battling currency headwinds which it claims hurt its fourth quarter earnings by 10 percent. Coke reported fourth-quarter earnings in line with estimates, and revenues that beat estimates by $22 million.

Cisco Systems — Cisco System’s stock rose 2.93 percent after its second-quarter results beat estimates on the top and bottom lines. The hardware company beat analyst estimates by a penny with an adjusted quarterly profit of 73 cents. It’s growth in cyber security and applications software boosted its revenues. Cisco added $15 billion to its company stock buyback program and raised quarterly dividends by 6 percent.

Amazon — Shares of Amazon fell 1 percent following the company’s announcement that it will not build a headquarters in New York in response to a large opposition from state and local politicians.

—CNBC’s Nadine El-Bawab, Yun Li, JR Reed and Kate Rooney contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, earnings, estimates, company, marathon, mgm, stocks, biggest, aig, oil, share, midday, results, reported, quarterly, resorts, quarter, cents, making, moves, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post