Chip stocks are tanking after ‘depressing’ Broadcom earnings in a bad sign for market

Broadcom led a plunge in chip stocks Friday after the chipmaker missed revenue expectations and lowered guidance for 2019 citing a “broad-based” slowdown in demand and the U.S. crackdown on Huawei. The VanEck Vectors Semiconductor ETF (SMH) dropped 2.9% and was headed for its biggest decline in about a month. Broadcom’s revenue for the fiscal second quarter came in Thursday evening at $5.52 billion vs. the $5.68 billion expected by analysts polled by Refinitiv. The chipmaker also said it now exp


Broadcom led a plunge in chip stocks Friday after the chipmaker missed revenue expectations and lowered guidance for 2019 citing a “broad-based” slowdown in demand and the U.S. crackdown on Huawei. The VanEck Vectors Semiconductor ETF (SMH) dropped 2.9% and was headed for its biggest decline in about a month. Broadcom’s revenue for the fiscal second quarter came in Thursday evening at $5.52 billion vs. the $5.68 billion expected by analysts polled by Refinitiv. The chipmaker also said it now exp
Chip stocks are tanking after ‘depressing’ Broadcom earnings in a bad sign for market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: john melloy
Keywords: news, cnbc, companies, customers, chip, broadbased, slowdown, market, billion, polled, broadcom, bad, demand, fiscal, tanking, sign, chipmaker, earnings, revenue, depressing, stocks


Chip stocks are tanking after 'depressing' Broadcom earnings in a bad sign for market

Broadcom led a plunge in chip stocks Friday after the chipmaker missed revenue expectations and lowered guidance for 2019 citing a “broad-based” slowdown in demand and the U.S. crackdown on Huawei.

Broadcom shares lost more than 9% in premarket trading Friday. Skyworks, Xilinx, Micron, Advanced Micro Devices, Nvidia and Qualcomm all followed suit with losses greater than 3%. Intel was down more than 2%. The VanEck Vectors Semiconductor ETF (SMH) dropped 2.9% and was headed for its biggest decline in about a month.

Broadcom’s revenue for the fiscal second quarter came in Thursday evening at $5.52 billion vs. the $5.68 billion expected by analysts polled by Refinitiv. The chipmaker also said it now expects $22.60 billion in revenue for fiscal 2019, well bellow the $24.31 billion seen by analysts polled by Refnitiv.

“We currently see a broad-based slowdown in the demand environment, which we believe is driven by continued geopolitical uncertainties, as well as the effects of export restrictions on one of our largest customers,” Broadcom CEO Hock Tan said in a statement. “As a result, our customers are actively reducing their inventory levels, and we are taking a conservative stance for the rest of the year.”


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: john melloy
Keywords: news, cnbc, companies, customers, chip, broadbased, slowdown, market, billion, polled, broadcom, bad, demand, fiscal, tanking, sign, chipmaker, earnings, revenue, depressing, stocks


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Stocks making the biggest moves premarket: CrowdStrike, Lululemon, RH, Alibaba & more

Lululemon – Lululemon reported quarterly profit of 74 cents per share, 4 cents a share above estimates. RH – RH earned an adjusted $1.85 per share for its first quarter, beating the consensus estimate of $1.55 a share. The Restoration Hardware parent’s revenue came in above expectations and the luxury home furnishings retailer also raised its full-year forecast. Oxford Industries – Oxford reported adjusted fiscal first quarter profit of $1.30 per share, 9 cents a share above estimates. The home


Lululemon – Lululemon reported quarterly profit of 74 cents per share, 4 cents a share above estimates. RH – RH earned an adjusted $1.85 per share for its first quarter, beating the consensus estimate of $1.55 a share. The Restoration Hardware parent’s revenue came in above expectations and the luxury home furnishings retailer also raised its full-year forecast. Oxford Industries – Oxford reported adjusted fiscal first quarter profit of $1.30 per share, 9 cents a share above estimates. The home
Stocks making the biggest moves premarket: CrowdStrike, Lululemon, RH, Alibaba & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, lululemon, making, crowdstrike, raised, deal, alibaba, biggest, estimates, china, cents, stocks, premarket, moves, share, quarter, rh, revenue, came


Stocks making the biggest moves premarket: CrowdStrike, Lululemon, RH, Alibaba & more

Check out the companies making headlines before the bell:

CrowdStrike – CrowdStrike remains on today’s watch list following a successful Wall Street debut Wednesday. The cybersecurity company’s initial public offering was priced at $34 per share and finished the session at $58.

Lululemon – Lululemon reported quarterly profit of 74 cents per share, 4 cents a share above estimates. The athletic apparel maker’s revenue also came in well above forecasts. Comparable-store sales jumped 16% compared to a consensus estimate of 11.6%. The company also raised its full-year forecast.

RH – RH earned an adjusted $1.85 per share for its first quarter, beating the consensus estimate of $1.55 a share. The Restoration Hardware parent’s revenue came in above expectations and the luxury home furnishings retailer also raised its full-year forecast. RH said it had selectively raised prices to mitigate the impact of higher China tariffs.

Oxford Industries – Oxford reported adjusted fiscal first quarter profit of $1.30 per share, 9 cents a share above estimates. The home furnishings retailer’s revenue came in above estimates as well. Like RH, Oxford plans to raise prices selectively to deal with the impact of China tariffs.

Marathon Oil – Marathon was downgraded to “neutral” from “overweight” at Atlantic Equities, which cited Marathon’s sensitivity to crude oil prices.

Alibaba – Alibaba has filed confidentially for a Hong Kong initial public offering, according to multiple reports. The listing for the China e-commerce giant could happen as soon as the third quarter and could raise as much as $20 billion.

T-Mobile US, Sprint – The mobile operators could run into yet another hurdle for their planned merger. The New York Post reports that a judge is likely to approve a temporary restraining order in the case brought by state attorneys general to prevent the deal, which would effectively set the deal back another six months.

Uber, Lyft – Evercore initiated coverage on both ride-sharing companies with “outperform” ratings, based on a favorable view of the industry and the idea that there will be high correlation between the performance of the two stocks.

Kontoor Brands – Susquehanna initiated coverage of the stock with a “positive” rating, pointing to an attractive dividend yield, a superior management team, and a sales and margin turnaround with limited downside. Kontoor is the maker of Lee and Wrangler jeans and was recent spun off from VF Corp.

Lennar – Wedbush upgraded the home builder to “outperform” from “neutral” based on mortgage rates at 2-year lows as well as a rebound in western markets.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, lululemon, making, crowdstrike, raised, deal, alibaba, biggest, estimates, china, cents, stocks, premarket, moves, share, quarter, rh, revenue, came


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Here are the most-loved stocks on Wall Street, including Amazon and a little-known energy company

Both the online retailing juggernaut and Diamondback Energy are universally loved on Wall Street, with all analysts that cover the stocks rating them a buy. They are the only two out of 500 stocks where that’s the case, according to FactSet. CNBC used FactSet to screen all S&P 500 companies looking for the stocks with the highest percentage of buy ratings compared with total ratings. Amazon, the world’s second most valuable company behind Microsoft, grew its share of the U.S. e-commerce market t


Both the online retailing juggernaut and Diamondback Energy are universally loved on Wall Street, with all analysts that cover the stocks rating them a buy. They are the only two out of 500 stocks where that’s the case, according to FactSet. CNBC used FactSet to screen all S&P 500 companies looking for the stocks with the highest percentage of buy ratings compared with total ratings. Amazon, the world’s second most valuable company behind Microsoft, grew its share of the U.S. e-commerce market t
Here are the most-loved stocks on Wall Street, including Amazon and a little-known energy company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, company, buy, ratings, energy, upside, highest, according, littleknown, amazon, 500, wall, mostloved, stocks, companies, including, analysts, street


Here are the most-loved stocks on Wall Street, including Amazon and a little-known energy company

Both the online retailing juggernaut and Diamondback Energy are universally loved on Wall Street, with all analysts that cover the stocks rating them a buy. They are the only two out of 500 stocks where that’s the case, according to FactSet.

CNBC used FactSet to screen all S&P 500 companies looking for the stocks with the highest percentage of buy ratings compared with total ratings. We threw out companies that had less than 10 analysts covering them.

Amazon, the world’s second most valuable company behind Microsoft, grew its share of the U.S. e-commerce market to 42% in 2018, according to J.P. Morgan. The bank expects Amazon, whose stock has surged more than 2,000% in the past decade, to surpass Walmart as the largest U.S. retailer in 2020. Amazon shares are up 23% this year.

“The highest quality management and franchise within global internet – a must own name with huge upside even from here,” Pivotal Research’s Michael Levine said in a note to clients about Amazon. “AWS duration will surprise to the upside both on topline and EBIT and the move towards one day shipping is a significant step to owning the consumer’s wallet.”


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, company, buy, ratings, energy, upside, highest, according, littleknown, amazon, 500, wall, mostloved, stocks, companies, including, analysts, street


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Stocks moving after hours: Broadcom, Fiverr, chip stocks

The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv’s consensus estimate of $5.68 billion. Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Other chip stocks followed Broadcom into the red after hours. The company, which connects gig economy workers with jobs, saw its stock pric


The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv’s consensus estimate of $5.68 billion. Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Other chip stocks followed Broadcom into the red after hours. The company, which connects gig economy workers with jobs, saw its stock pric
Stocks moving after hours: Broadcom, Fiverr, chip stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jesse pound, lauren feiner
Keywords: news, cnbc, companies, market, fiverr, billion, analysts, reported, broadcom, share, refinitiv, moving, company, hours, chip, revenue, stocks


Stocks moving after hours: Broadcom, Fiverr, chip stocks

Check out the companies making headlines after the bell:

Shares of chipmaker Broadcom plunged 8% in extended trading Thursday after the company missed revenue expectations for the second quarter and lowered its revenue guidance for the full fiscal year. The San Jose-based company reported earnings of $5.21 per share, excluding certain items, beating the $5.16 per share expected by analysts, according to Refinitiv. However, the reported $5.52 billion in revenue was below Refinitiv’s consensus estimate of $5.68 billion.

Broadcom lowered its guidance for full-year revenue from $24.50 billion to $22.50 billion. Analysts expected $24.31 billion, according to Refinitiv. The company cited a U.S. ban on working with Chinese device giant Huawei in lowering its revenue outlook.

Other chip stocks followed Broadcom into the red after hours. Broadcom CEO Hock Tan said on a call with analysts that uncertainty in the industry extended beyond Huawei. Advanced Micro Devices, Micron Technology, Qualcomm and Nvidia all fell roughly 1.8%. Texas Instruments and Analog Devices fell more than 2.5% each.

Fiverr’s strong market debut continued after hours, as the company’s shares rose another 5.5%. The company, which connects gig economy workers with jobs, saw its stock price rise 90% during market hours in its first day on the public exchanges Thursday.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jesse pound, lauren feiner
Keywords: news, cnbc, companies, market, fiverr, billion, analysts, reported, broadcom, share, refinitiv, moving, company, hours, chip, revenue, stocks


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Retailers fight back: Bricks-and-mortar brands are figuring out online sales, and their stocks are soaring

Lululemon on Wednesday said online sales this past quarter grew 35%. Target’s online sales were up 42%, and Walmart reported 37% digital growth. Dick’s Sporting Goods’ online sales were up 15%. Much of Target’s growth online has also stemmed from these services. During the first quarter of fiscal 2019, Target said its same-day delivery service with Shipt, curbside and in-store pickup drove more than half of its 42% e-commerce sales growth and 25% of same-store sales growth.


Lululemon on Wednesday said online sales this past quarter grew 35%. Target’s online sales were up 42%, and Walmart reported 37% digital growth. Dick’s Sporting Goods’ online sales were up 15%. Much of Target’s growth online has also stemmed from these services. During the first quarter of fiscal 2019, Target said its same-day delivery service with Shipt, curbside and in-store pickup drove more than half of its 42% e-commerce sales growth and 25% of same-store sales growth.
Retailers fight back: Bricks-and-mortar brands are figuring out online sales, and their stocks are soaring Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lauren hirsch lauren thomas amelia lucas, lauren hirsch, lauren thomas, amelia lucas
Keywords: news, cnbc, companies, best, retailers, store, figuring, fight, stores, online, shoppers, target, walmart, growth, soaring, bricksandmortar, sales, brands, stocks


Retailers fight back: Bricks-and-mortar brands are figuring out online sales, and their stocks are soaring

Even as analysts have called the doom of retail as Amazon’s might and influence grows stronger, some have bounced back — often with the help of their online business.

A number of retailers and restaurants over the past few weeks have reported explosive growth of e-commerce sales. Lululemon on Wednesday said online sales this past quarter grew 35%. Target’s online sales were up 42%, and Walmart reported 37% digital growth. Dick’s Sporting Goods’ online sales were up 15%. Best Buy’s digital business in the U.S. grew 14.5%.

Investors have been rewarding this growth. Walmart and Lululemon shares both hit a 52-week high Thursday. Walmart’s stock has gained 16% so far this year, while Lululemon’s stock is up more than 42% since January. Starbucks is up nearly 30%, while Chipotle has gained 70% this year.

“Now, it’s easier in some ways to be a late mover,” in retailing online, Sucharita Kodali, a retail analyst at Forrester Research, said in an interview.

Timing could be what’s giving companies such as Lululemon and Walmart a leg up. They didn’t have to “reinvent the wheel” online, she said, but instead have been able to take “best practices” from other companies such as Amazon, which started as an online bookstore in 1995. In Walmart’s case, that’s included acquisitions of start-ups such as Jet.com that have given it a bench of young and experienced tech talent.

Meanwhile, what’s giving these retailers such a strong muscle online is something Amazon can’t match, at least today: bricks-and-mortar stores. Traditional retailers are finally getting the hang of offering services such as curbside pickup and buy online pick up in store, helping boost online sales but also cutting back on shipping costs for the company.

Lululemon, for example, spoke this quarter about expanding buy online pick up in store options. About 150 of its roughly 440 stores now offer the service, the company said, and it plans to expand the option across its entire store base by the end of the third quarter.

Much of Target’s growth online has also stemmed from these services.

During the first quarter of fiscal 2019, Target said its same-day delivery service with Shipt, curbside and in-store pickup drove more than half of its 42% e-commerce sales growth and 25% of same-store sales growth. Sales at stores open at least a year were up 4.8% during the period, outpacing estimates.

The financial benefit of all this for Target is that when customers pick items up in stores, it’s 90% cheaper for the retailer than when it has to ship something from a warehouse, the company has said.

“Even today, on any given day, upwards of 50% of our orders are delivered next-day and it’s using our stores and their proximity as that advantage in our overall strategy,” Target CEO Brian Cornell told analysts last month. “We’re leveraging the fact that we’re so, so close to the guest … and convenience is a big part of our strategy.”

For Walmart, much of its recent online efforts have been centered around grocery. The retailer is planning to have 1,600 stores equipped for grocery delivery and 3,100 hubs for in-person grocery pickup by the end of this year. It’s said 90% of the U.S. population lives within 10 miles of at least one of its stores.

“Clearly, we think our stores are a competitive advantage,” Walmart CFO Michael Dastugue told analysts at a UBS-hosted conference in March.

The best “omnichannel” retailers in the country today, meaning the companies that are best utilizing their stores to help with their e-commerce businesses and vice versa, are Walmart, Target, Home Depot, Best Buy, Macy’s, Dick’s Sporting Goods, Kohl’s, Nordstrom, Lowe’s and J.C. Penney, and in that order, according to a study by Internet Retailer.

It looked at things such as which retailers allowed shoppers to return online orders to a store, showed in-store stock status on the web, priced matched in-store offers with online promotions and even offered free, in-store Wi-Fi.

“Retailers that aren’t making omnichannel a priority do so at their peril, as shoppers are demanding these services,” the report said. Seventy-eight percent of shoppers check inventory online for a certain store before heading there, and 68% of all shoppers say they’ll do more of this in 2019, the firm found in surveying 1,100 consumers.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: lauren hirsch lauren thomas amelia lucas, lauren hirsch, lauren thomas, amelia lucas
Keywords: news, cnbc, companies, best, retailers, store, figuring, fight, stores, online, shoppers, target, walmart, growth, soaring, bricksandmortar, sales, brands, stocks


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One top tech investor is betting against chip stocks, bearish Netflix

Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more


Attacks from Iran’s increased presence is a risk to oil, says US…Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…Oil and Gasread more
One top tech investor is betting against chip stocks, bearish Netflix Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, investor, trade, tensions, oil, slowdown, tech, risk, war, usanalysts, tank, think, netflix, bearish, spike, chip, betting, stocks


One top tech investor is betting against chip stocks, bearish Netflix

Attacks from Iran’s increased presence is a risk to oil, says US…

Analysts have played down fears of a huge oil price spike this year, due to the economic slowdown and trade war — but one U.S. think tank says Middle East tensions could…

Oil and Gas

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, investor, trade, tensions, oil, slowdown, tech, risk, war, usanalysts, tank, think, netflix, bearish, spike, chip, betting, stocks


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Democratic senator calls for tighter oversight of Chinese firms with stocks that trade in the US

Sen. Chris Van Hollen is pushing bipartisan legislation that would require increased oversight of Chinese companies whose stocks trade in the United States and are collectively valued at more than $1 trillion. The Maryland Democrat told CNBC on Thursday that, like all companies with shares on U.S. exchanges, Chinese firms should be held to the same U.S. standards of transparency and accountability. The Van Hollen-Kennedy bill would give Chinese companies three years to come into compliance with


Sen. Chris Van Hollen is pushing bipartisan legislation that would require increased oversight of Chinese companies whose stocks trade in the United States and are collectively valued at more than $1 trillion. The Maryland Democrat told CNBC on Thursday that, like all companies with shares on U.S. exchanges, Chinese firms should be held to the same U.S. standards of transparency and accountability. The Van Hollen-Kennedy bill would give Chinese companies three years to come into compliance with
Democratic senator calls for tighter oversight of Chinese firms with stocks that trade in the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, democratic, hollen, end, senator, oversight, calls, tighter, trade, chinese, president, firms, stocks, companies, told, van


Democratic senator calls for tighter oversight of Chinese firms with stocks that trade in the US

Sen. Chris Van Hollen is pushing bipartisan legislation that would require increased oversight of Chinese companies whose stocks trade in the United States and are collectively valued at more than $1 trillion.

The Maryland Democrat told CNBC on Thursday that, like all companies with shares on U.S. exchanges, Chinese firms should be held to the same U.S. standards of transparency and accountability.

“This is important to protect the integrity of U.S. exchanges and U.S. investors,” said Van Hollen, co-sponsor with Republican Sen. John Kennedy from Louisiana of the Holding Foreign Companies Accountable Act.

Last week, senators including Republican Marco Rubio of Florida and Democrat Kirsten Gillibrand of New York introduced a similar bill. Gillibrand is one of the many candidates seeking her party’s 2020 presidential nomination. Rubio unsuccessfully sought the GOP nomination for president in 2016.

“Why would we want to expose U.S. investors to the possibility of being defrauded by one country?” Van Hollen asked rhetorically on CNBC. China is the “only country that is not playing by the rules.” The Van Hollen-Kennedy bill would give Chinese companies three years to come into compliance with U.S. standards.

In a letter Wednesday to U.S. Trade Representative Robert Lighthizer, Van Hollen and Kennedy asked that any U.S.-China trade deal include conditions requiring Chinese companies listed in the U.S. to comply with U.S. auditing and reporting requirements.

Van Hollen told “Squawk Box” on Thursday he has not heard back from Lighthizer.

The senator said he’s trying to “elevate” this issue before President Donald Trump goes to the G-20 meeting at the end of the month in Japan, where he hopes to meet with Chinese President Xi Jinping.

Officials in the Trump administration have expressed optimism toward an agreement between Washington and Beijing, though many have said the G-20 meeting will only lay the groundwork for a potential deal.

“Eventually, this will end in negotiation,” Commerce secretary Wilbur Ross told CNBC on Tuesday. “Even shooting wars end in negotiations.”


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, trump, democratic, hollen, end, senator, oversight, calls, tighter, trade, chinese, president, firms, stocks, companies, told, van


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Stocks fall for a second day as tech and bank shares slide

Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June. The Dow Jones Industrial Average dipped 50 points while the S&P 500 traded 0.2% lower. Tech shares were dragged down by chip stocks. Semiconductor stocks were pressured after an Evercore ISI analyst said a recovery in the space will likely be pushed back to the second half of 2020. Facebook shares dropped more than 1% after a Wall Street Journal report showed the com


Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June. The Dow Jones Industrial Average dipped 50 points while the S&P 500 traded 0.2% lower. Tech shares were dragged down by chip stocks. Semiconductor stocks were pressured after an Evercore ISI analyst said a recovery in the space will likely be pushed back to the second half of 2020. Facebook shares dropped more than 1% after a Wall Street Journal report showed the com
Stocks fall for a second day as tech and bank shares slide Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: fred imbert
Keywords: news, cnbc, companies, fall, semiconductor, tech, lower, fell, declines, shares, stocks, slide, day, second, pressured, dropped, bank, dow


Stocks fall for a second day as tech and bank shares slide

Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June.

The Dow Jones Industrial Average dipped 50 points while the S&P 500 traded 0.2% lower. The Nasdaq Composite lagged, sliding 0.4%.

Tech shares were dragged down by chip stocks. The VanEck Vectors Semiconductor ETF (SMH) dropped 1.9% as Lam Research lost 5%. Applied Materials, KLA-Tencor and Teradyne also fell. Semiconductor stocks were pressured after an Evercore ISI analyst said a recovery in the space will likely be pushed back to the second half of 2020.

Facebook shares dropped more than 1% after a Wall Street Journal report showed the company uncovered emails linking CEO Mark Zuckerberg to the company’s privacy practices.

Wednesday’s declines come after muted trading action in the previous session. The Dow closed marginally lower on Tuesday, snapping a six-day winning streak.


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: fred imbert
Keywords: news, cnbc, companies, fall, semiconductor, tech, lower, fell, declines, shares, stocks, slide, day, second, pressured, dropped, bank, dow


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Kevin Durant’s injury is not only changing the potential makeup of the NBA, it’s moving stocks

Kevin Durant #35 of the Golden State Warriors reacts after sustaining an injury during the second quarter against the Toronto Raptors during Game Five of the 2019 NBA Finals at Scotiabank Arena on June 10, 2019 in Toronto, Canada. Basketball superstar Kevin Durant’s injury may have reshaped the outlook of the NBA’s upcoming free agency period, but it also sent ripples through Wall Street. Shares of MSG Networks tumbled nearly 5% on Tuesday after Durant reportedly tore his Achilles tendon in Game


Kevin Durant #35 of the Golden State Warriors reacts after sustaining an injury during the second quarter against the Toronto Raptors during Game Five of the 2019 NBA Finals at Scotiabank Arena on June 10, 2019 in Toronto, Canada. Basketball superstar Kevin Durant’s injury may have reshaped the outlook of the NBA’s upcoming free agency period, but it also sent ripples through Wall Street. Shares of MSG Networks tumbled nearly 5% on Tuesday after Durant reportedly tore his Achilles tendon in Game
Kevin Durant’s injury is not only changing the potential makeup of the NBA, it’s moving stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: fred imbert
Keywords: news, cnbc, companies, potential, knicks, warriors, raptors, changing, free, makeup, durants, state, kevin, stocks, durant, golden, nba, toronto, injury, moving


Kevin Durant's injury is not only changing the potential makeup of the NBA, it's moving stocks

Kevin Durant #35 of the Golden State Warriors reacts after sustaining an injury during the second quarter against the Toronto Raptors during Game Five of the 2019 NBA Finals at Scotiabank Arena on June 10, 2019 in Toronto, Canada.

Basketball superstar Kevin Durant’s injury may have reshaped the outlook of the NBA’s upcoming free agency period, but it also sent ripples through Wall Street.

Shares of MSG Networks tumbled nearly 5% on Tuesday after Durant reportedly tore his Achilles tendon in Game 5 of the NBA Finals between the Golden State Warriors and the Toronto Raptors on Monday evening. Durant was expected to opt out of his current contract with Golden State at the end of the season, making the 10-time All-Star the marquee free agent of 2019.

Several teams, including the New York Knicks, were expected to vie for Durant’s services in free agency. Signing Durant, a two-time NBA champion and one of the best players in the league, could have helped the Knicks become a playoff contender. The Knicks have missed the NBA playoffs for six straight years.


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: fred imbert
Keywords: news, cnbc, companies, potential, knicks, warriors, raptors, changing, free, makeup, durants, state, kevin, stocks, durant, golden, nba, toronto, injury, moving


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Stocks slide as tech shares come under pressure, putting the June rally on hold

Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June. The Dow Jones Industrial Average dipped 43.68 points, or 0.2%, to 26,004.83 while the S&P 500 closed 0.2% lower at 2,879.84. Tech shares were dragged down by chip stocks. Semiconductor stocks were pressured after an Evercore ISI analyst said a recovery in the space will likely be pushed back to the second half of 2020. Facebook shares dropped 1.7% after a Wall Street


Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June. The Dow Jones Industrial Average dipped 43.68 points, or 0.2%, to 26,004.83 while the S&P 500 closed 0.2% lower at 2,879.84. Tech shares were dragged down by chip stocks. Semiconductor stocks were pressured after an Evercore ISI analyst said a recovery in the space will likely be pushed back to the second half of 2020. Facebook shares dropped 1.7% after a Wall Street
Stocks slide as tech shares come under pressure, putting the June rally on hold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: fred imbert
Keywords: news, cnbc, companies, rally, putting, pressure, hold, pressured, come, second, shares, slide, tech, stocks, semiconductor, fell, declines, dropped, lower, dow


Stocks slide as tech shares come under pressure, putting the June rally on hold

Stocks fell for a second day on Wednesday, pressured by declines in tech and bank shares, pausing a sharp rally to start off June.

The Dow Jones Industrial Average dipped 43.68 points, or 0.2%, to 26,004.83 while the S&P 500 closed 0.2% lower at 2,879.84. The Nasdaq Composite lagged, sliding 0.4% to 7,792.72.

Tech shares were dragged down by chip stocks. The VanEck Vectors Semiconductor ETF (SMH) dropped 2.2% as Lam Research lost 5.3%. Applied Materials, KLA-Tencor and Teradyne also fell. Semiconductor stocks were pressured after an Evercore ISI analyst said a recovery in the space will likely be pushed back to the second half of 2020.

Facebook shares dropped 1.7% after a Wall Street Journal report showed the company uncovered emails linking CEO Mark Zuckerberg to the company’s privacy practices.

Wednesday’s declines come after muted trading action in the previous session. The Dow closed marginally lower on Tuesday, snapping a six-day winning streak.


Company: cnbc, Activity: cnbc, Date: 2019-06-12  Authors: fred imbert
Keywords: news, cnbc, companies, rally, putting, pressure, hold, pressured, come, second, shares, slide, tech, stocks, semiconductor, fell, declines, dropped, lower, dow


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