Earnings season is almost here and companies are warning the results won’t be pretty

Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for their second-quarter earnings. Of the 114 companies that have issued earnings guidance for the period, 77% have issued negative forecasts, according to data from FactSet. “That says it all about the trajectory now of earnings,” Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC Thursday. Minnesota-based Fastenal was among the first companies to give investors


Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for their second-quarter earnings. Of the 114 companies that have issued earnings guidance for the period, 77% have issued negative forecasts, according to data from FactSet. “That says it all about the trajectory now of earnings,” Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC Thursday. Minnesota-based Fastenal was among the first companies to give investors
Earnings season is almost here and companies are warning the results won’t be pretty Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: kate rooney
Keywords: news, cnbc, companies, tariffs, warning, week, earnings, pretty, season, companies, results, fastenal, period, wont, issued, trade, boockvar, secondquarter


Earnings season is almost here and companies are warning the results won't be pretty

Because of uncertainty around trade wars and global growth, a bulk of U.S. companies are lowering the bar for their second-quarter earnings. Of the 114 companies that have issued earnings guidance for the period, 77% have issued negative forecasts, according to data from FactSet.

Thanks in part to those warnings, earnings are estimated by analysts to have declined by 2.9% year over year in the second quarter. At the start of the period, analysts expected earnings to be basically flat. If that estimate for a decline holds up, it would mark the first time the S&P 500 has reported two straight quarters of year-over-year decline in earnings in three years, according to FactSet.

“That says it all about the trajectory now of earnings,” Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC Thursday. Boockvar said the two “key tells this week” have been disappointing second-quarter results from MSC Industrial Direct and Fastenal, both of which cited a slowing business environment.

“These companies lie at the heart of the industrial and construction world,” Boockvar said.

Minnesota-based Fastenal was among the first companies to give investors a glimpse into the corporate cost of tariffs. The largest fastener distributor in North America said in its second-quarter earnings report this week that the trade war has damaged its business and outlined the difficulty of countering the losses.

“While we successfully raised prices as one element of our strategy to offset tariffs placed to date on products sourced from China, those increases were not sufficient to also counter general inflation in the marketplace,” Fastenal said in a press release.


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: kate rooney
Keywords: news, cnbc, companies, tariffs, warning, week, earnings, pretty, season, companies, results, fastenal, period, wont, issued, trade, boockvar, secondquarter


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Europe’s huge privacy fines against Marriott and British Airways are a warning for Google and Facebook

Anjali Sundaram | CNBCBritish Airways and Marriott received the largest-ever fines under the EU’s new General Data Protection Regulation this past week. The ICO gave Marriott a $123 million proposed penalty for the loss of 339 million guest records, reported in November 2018. But the GDPR fines were important for reasons well beyond numbers. The maximum GDPR fine is 4% of a company’s global turnover. British Airways parent IAG said it was “surprised and disappointed” by the decision, and said it


Anjali Sundaram | CNBCBritish Airways and Marriott received the largest-ever fines under the EU’s new General Data Protection Regulation this past week. The ICO gave Marriott a $123 million proposed penalty for the loss of 339 million guest records, reported in November 2018. But the GDPR fines were important for reasons well beyond numbers. The maximum GDPR fine is 4% of a company’s global turnover. British Airways parent IAG said it was “surprised and disappointed” by the decision, and said it
Europe’s huge privacy fines against Marriott and British Airways are a warning for Google and Facebook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: kate fazzini
Keywords: news, cnbc, companies, companies, privacy, google, warning, europes, gdpr, facebook, british, million, marriott, data, airways, huge, ico, fines, fine


Europe's huge privacy fines against Marriott and British Airways are a warning for Google and Facebook

Arne Sorenson, President and Chief Executive Officer of Marriott International. Anjali Sundaram | CNBC

British Airways and Marriott received the largest-ever fines under the EU’s new General Data Protection Regulation this past week. The U.K. Information Commissioner’s Office (ICO) fined British Airways a proposed $230 million for an incident that took place from June to September 2018 and compromised the data of 500,000 customers. The ICO gave Marriott a $123 million proposed penalty for the loss of 339 million guest records, reported in November 2018. Both companies have the opportunity to respond to the fine before the ICO issues a final decision, and both companies already indicated they will appeal the decision. But the GDPR fines were important for reasons well beyond numbers. The GDPR is a very broad rule with little detail, and companies have had few insights into how regulators in the EU would interpret the law, particularly what they would consider “adequate” security measures. The maximum GDPR fine is 4% of a company’s global turnover. The fines for BA and Marriott both represented 1.5% of their respective turnover, and the commission said both companies cooperated fully with their respective investigations.

This makes the stakes particularly high for tech companies like Google and Facebook, which are either currently under investigation in the EU, and for whom the legislation essentially was tailor-made. Google could face a fine of up to $5 billion, and Facebook up to $2.2 billion, based on both companies’ annual revenue in 2018. Earlier this year, the ICO indicated it would investigate Google over leaking of customer data from its advertising platform. Google has already faced scrutiny and fines under the GDPR from France’s regulator, with a $57 million penalty levied in January for “lack of transparency” and valid consent controls for users, among other issues. Facebook has also received modest penalties for the Cambridge Analytica scandal, in which users weren’t given proper notice that a survey was being used for political research and advertising. The company incurred a modest fine of $644,000 for that incident, but is currently under investigation for a breach of usernames and passwords on its Facebook and Instagram platforms that could be far more costly.

A more punitive approach

The decisions included punitive language that has been uncommon in the privacy enforcement arena, particularly in the U.S., where companies are traditionally treated as victims of cybercrime first, rather than perpetrators of data loss. This standpoint was reflected in a statement, filed with the Securities and Exchange Commission by Marriott CEO Arne Sorenson: “We are disappointed with this notice of intent from the ICO, which we will contest. Marriott has been cooperating with the ICO throughout its investigation into the incident, which involved a criminal attack against the Starwood guest reservation database. ” In fact, the European Data Protection Board questioned how well Marriott had vetted and protected data when it acquired Starwood in a $13.6 billion deal that closed in 2016.

“The GDPR makes it clear that organisations must be accountable for the personal data they hold. This can include carrying out proper due diligence when making a corporate acquisition, and putting in place proper accountability measures to assess not only what personal data has been acquired, but also how it is protected,” the board said. The commission said less about its fine of British Airways, but the relatively short-term breach and relatively small number of affected customers show the commission may build past data security issues into its equation as well. British Airways parent IAG said it was “surprised and disappointed” by the decision, and said it would “vigorously” defend its stance.

Putting everyone on notice


Company: cnbc, Activity: cnbc, Date: 2019-07-10  Authors: kate fazzini
Keywords: news, cnbc, companies, companies, privacy, google, warning, europes, gdpr, facebook, british, million, marriott, data, airways, huge, ico, fines, fine


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Instagram will start sending you a warning if you leave a mean comment

Adam Mosseri, the head of Facebook-owned Instagram, said the company is willing to make decisions that keep its users safe from online bullying, even if it leads to decreased usage. “We will make decisions that mean people use Instagram less if it keeps people more safe,” Mosseri told Time in an article published Monday. Mosseri has made combatting online bullying a top priority since he took over the reins of Instagram in October. Mosseri has stressed this at all-hands meetings and in an emails


Adam Mosseri, the head of Facebook-owned Instagram, said the company is willing to make decisions that keep its users safe from online bullying, even if it leads to decreased usage. “We will make decisions that mean people use Instagram less if it keeps people more safe,” Mosseri told Time in an article published Monday. Mosseri has made combatting online bullying a top priority since he took over the reins of Instagram in October. Mosseri has stressed this at all-hands meetings and in an emails
Instagram will start sending you a warning if you leave a mean comment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: salvador rodriguez
Keywords: news, cnbc, companies, warning, online, told, mean, users, comment, leave, bullying, million, instagram, facebook, mosseri, feature, sending, safe, start


Instagram will start sending you a warning if you leave a mean comment

Adam Mosseri, the head of Facebook-owned Instagram, said the company is willing to make decisions that keep its users safe from online bullying, even if it leads to decreased usage.

“We will make decisions that mean people use Instagram less if it keeps people more safe,” Mosseri told Time in an article published Monday.

Mosseri has made combatting online bullying a top priority since he took over the reins of Instagram in October.

Instagram on Monday announced the launch of a new AI feature that will notify users when a comment they write could be considered offensive before they post it. Instagram said it will also soon begin testing a new feature called Restrict that will allow users to hide comments from specific users without notifying those users that they’ve been muted.

Mosseri has stressed this at all-hands meetings and in an emails to his employees, current and former Instagram employees told CNBC in May. Mosseri also announced in April that Instagram would begin experimenting with hiding like counts as a way to make the social network “a less pressurized environment.”

Over the past few years, Instagram has become one of the most important parts of Facebook, with more than 1 billion monthly users, including 500 million daily users of its growing Stories feature as of January. By comparison, rival Snap counts 190 million daily users, the company said in April.

Only bullying “could hurt our reputation and our brand over time. It could make our partnership relationships more difficult. There are all sorts of ways it could strain us,” Mosseri told Time. “If you’re not addressing issues on your platform, I have to believe it’s going to come around and have a real cost.”

Read the full Time article here.

WATCH: Here’s how to see which apps have access to your Facebook data — and cut them off


Company: cnbc, Activity: cnbc, Date: 2019-07-08  Authors: salvador rodriguez
Keywords: news, cnbc, companies, warning, online, told, mean, users, comment, leave, bullying, million, instagram, facebook, mosseri, feature, sending, safe, start


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Companies are warning that earnings results are going to be brutal

Now companies are echoing those concerns with a level of pessimism not often seen from corporate America. The total tariff impact will cost the industry about $400 million, Hayes wrote in a recent report. Multinationals, in general, also are seeing a big tariff impact. FactSet estimates that companies doing more than half their sales outside the U.S. are looking at a more than 9% earnings decline on a year-over-year basis. It’s creeping into the numbers little by little,” said Mitchell Goldberg,


Now companies are echoing those concerns with a level of pessimism not often seen from corporate America. The total tariff impact will cost the industry about $400 million, Hayes wrote in a recent report. Multinationals, in general, also are seeing a big tariff impact. FactSet estimates that companies doing more than half their sales outside the U.S. are looking at a more than 9% earnings decline on a year-over-year basis. It’s creeping into the numbers little by little,” said Mitchell Goldberg,
Companies are warning that earnings results are going to be brutal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: jeff cox
Keywords: news, cnbc, companies, going, warning, tariffs, impact, tariff, brutal, industry, seen, negative, level, earnings, results, little, companies


Companies are warning that earnings results are going to be brutal

Ahead of a season that starts in earnest the week of July 15, 77% of the 113 companies that have issued earnings per share guidance have warned that their numbers will be worse than what Wall Street analysts are estimating, according to FactSet.

Analysts have been taking a dimmer view of what is ahead for earnings . They’ve already forecast a decline for the first three quarters of 2019. Now companies are echoing those concerns with a level of pessimism not often seen from corporate America.

Stocks may have brushed up against record highs Monday. However, a looming threat is just a couple weeks away once profit reports from the second quarter hit.

That total of 87 companies is well above the typical level of 70% negative pre-announcements and the second-worst level since FactSet started keeping track in 2006. The worst was in the first quarter of 2016, which saw 92 negative such warnings.

At a time when the Dow Jones Industrial Average of blue chip stocks is coming off its best June since 1938, a wobbly profit picture doesn’t do much to instill confidence that such an aggressive rally can continue. Earnings for the S&P 500, which had its best June since 1955, are projected to decline 2.6% from the same period a year ago.

“The harsh reality is data is going to impact sentiment,” said Michael Yoshikami, founder of Destination Wealth Management. “I don’t think it’s something that can be ignored. Even though markets are at all-time highs, the economy is definitely slowing.”

The issues with earnings now are multi-pronged but tied mostly to tariffs and waning global growth.

In terms of sectors, the two with the biggest negative pre-announcements — information technology and health care — are at the center of the tariff battle between the U.S. and its global trading partners, particularly China.

At the industry level, semiconductors and equipment along with health-care equipment and supplies and life sciences tools and services have seen the highest number of negative pre-announcements.

Technology has been at the core of President Donald Trump’s tariffs against $250 billion worth of Chinese goods. At the same time, his steel and aluminum duties are making a direct hit on the health-care industry, impacting about $1.8 billion worth of medical imports, according to Tara O’Neill Hayes, the deputy director of health-care policy for the American Action Forum.

The total tariff impact will cost the industry about $400 million, Hayes wrote in a recent report. In addition to tariffs, health care also faces a serious regulatory risk ahead, with leaders in both parties expressing interest in curbing the amount pharmaceutical companies can charge for their drugs.

Multinationals, in general, also are seeing a big tariff impact. FactSet estimates that companies doing more than half their sales outside the U.S. are looking at a more than 9% earnings decline on a year-over-year basis.

Determining the market impact is difficult, but the downbeat sentiment from companies will give investors plenty to think about as Wall Street tries to build on a Dow gain this year of 14.4%.

“Stocks are priced for perfection. You haven’t seen too much suffering yet, but it’s kind of incipient. It’s creeping into the numbers little by little,” said Mitchell Goldberg, president of ClientFirst Strategy. “When stocks are priced for perfection, even little things become insurmountable.”

One major attribute the market has going for it is that even at a slower pace, the U.S. is still outgrowing the rest of the world. However, mounting headwinds could send investors further into safe haven assets like bonds and gold, which have benefited during the intensifying U.S-China trade dispute.

“If you’re worried about earnings, you should be taking some chips off the table,” Goldberg said. “We’ve had a real nice rally this year. I wouldn’t be surprised if we had a pullback.”


Company: cnbc, Activity: cnbc, Date: 2019-07-01  Authors: jeff cox
Keywords: news, cnbc, companies, going, warning, tariffs, impact, tariff, brutal, industry, seen, negative, level, earnings, results, little, companies


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Powerful quake jolts northwest Japan, tsunami warning issued

Don’t be too optimistic that trade talks will progress at G-20:…”I do expect our stock market to be hammered if nothing positive comes of this G-20 meeting … the most likely outcome is nothing happens,” Jim Cramer says. Mad Money with Jim Cramerread more


Don’t be too optimistic that trade talks will progress at G-20:…”I do expect our stock market to be hammered if nothing positive comes of this G-20 meeting … the most likely outcome is nothing happens,” Jim Cramer says. Mad Money with Jim Cramerread more
Powerful quake jolts northwest Japan, tsunami warning issued Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-18
Keywords: news, cnbc, companies, tsunami, northwest, progress, trade, jolts, japan, jim, talks, powerful, quake, optimistic, issued, saysmad, stock, outcome, money, warning, positive


Powerful quake jolts northwest Japan, tsunami warning issued

Don’t be too optimistic that trade talks will progress at G-20:…

“I do expect our stock market to be hammered if nothing positive comes of this G-20 meeting … the most likely outcome is nothing happens,” Jim Cramer says.

Mad Money with Jim Cramer

read more


Company: cnbc, Activity: cnbc, Date: 2019-06-18
Keywords: news, cnbc, companies, tsunami, northwest, progress, trade, jolts, japan, jim, talks, powerful, quake, optimistic, issued, saysmad, stock, outcome, money, warning, positive


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Dow futures slightly higher despite Trump’s warning on China tariffs

U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher. President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.


U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher. President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.
Dow futures slightly higher despite Trump’s warning on China tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, donald, trumps, trump, chinese, china, xi, warning, war, higher, points, dow, despite, slightly, president, tariffs, trade


Dow futures slightly higher despite Trump's warning on China tariffs

U.S. stock index futures were slightly higher Tuesday morning despite comments from President Donald Trump on trade war with China.

At around 01:36 a.m. ET, Dow futures rose 45 points, indicating a positive open of more than 59 points. Futures of S&P and Nasdaq were also seen slightly higher.

President Donald Trump told CNBC on Monday that if Chinese President Xi Jinping does not attend the G-20 meeting later this month, there will be additional duties on Chinese goods. This would take effect immediately.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: silvia amaro
Keywords: news, cnbc, companies, futures, donald, trumps, trump, chinese, china, xi, warning, war, higher, points, dow, despite, slightly, president, tariffs, trade


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Cloud companies warning of ‘sales execution’ problems are getting crushed by Wall Street

It’s become a familiar theme among cloud software companies in recent weeks. Longer sales cycles and difficulty in sales execution were themes that popped up in earnings calls from Box, Zuora, Cloudera and Pivotal Software as well. “Normally, we would have had a more straightforward e-signature only,” said Springer, who was previously CEO of marketing software company Responsys, which Oracle acquired for $1.5 billion in 2014. Prior to this week’s earnings report, DocuSign’s stock price was up 89


It’s become a familiar theme among cloud software companies in recent weeks. Longer sales cycles and difficulty in sales execution were themes that popped up in earnings calls from Box, Zuora, Cloudera and Pivotal Software as well. “Normally, we would have had a more straightforward e-signature only,” said Springer, who was previously CEO of marketing software company Responsys, which Oracle acquired for $1.5 billion in 2014. Prior to this week’s earnings report, DocuSign’s stock price was up 89
Cloud companies warning of ‘sales execution’ problems are getting crushed by Wall Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-09  Authors: jordan novet
Keywords: news, cnbc, companies, crushed, company, springcm, docusign, execution, cloud, sort, companies, warning, software, problems, wall, getting, weeks, street, springer, earnings, sales


Cloud companies warning of 'sales execution' problems are getting crushed by Wall Street

DocuSign shares plunged 12% on Friday even though the electronic signature company had just reported better-than-expected earnings. The problem had to do with challenges the company is having pulling in additional revenue from customers.

It’s become a familiar theme among cloud software companies in recent weeks. Longer sales cycles and difficulty in sales execution were themes that popped up in earnings calls from Box, Zuora, Cloudera and Pivotal Software as well. All of them got punished by Wall Street, some much more than others.

In part, they’re dealing with the growing pains that come with being maturing companies and the complexities of dealing with large enterprises while at the same time trying to meet the demands of public market investors.

For DocuSign, the issue stemmed from the $220 million purchase last year of SpringCM, which took the company beyond a single product for digitally signing documents and into an area called contract lifecycle management (CLM), which involves managing the creation of documents for people to sign and then keeping track of changes.

“By becoming a two-product company, in the short run, it’s harder to sell,” DocuSign CEO Dan Springer told CNBC in an interview on Thursday before the company announced earnings. “You elongate the sales cycle. You put a short-term dampening, I think, on your billings, but you increase your long-term billings, because we have more to sell.”

Springer elaborated on the financial implications of DocuSign’s expansion during a conference call with analysts, who were asking about the trend. He used a European bank as an example.

“Normally, we would have had a more straightforward e-signature only,” said Springer, who was previously CEO of marketing software company Responsys, which Oracle acquired for $1.5 billion in 2014. “They were interested in also looking at some of the CLM capabilities of SpringCM. And as we got to the sort of end of the quarter, we realized our normal sort of pacing and process would take longer. And it’s a deal that closed 10 days after the end of the quarter.”

Prior to this week’s earnings report, DocuSign’s stock price was up 89 percent from the company’s IPO last year. It’s part of a crop of subscription cloud-based software companies that have gone public in recent years and provided growth stories to enterprise technology investors.


Company: cnbc, Activity: cnbc, Date: 2019-06-09  Authors: jordan novet
Keywords: news, cnbc, companies, crushed, company, springcm, docusign, execution, cloud, sort, companies, warning, software, problems, wall, getting, weeks, street, springer, earnings, sales


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Ahead of Trump arrival, Ireland’s finance minister sounds trade warning

The finance minister of Ireland conceded that his country’s economy is at risk to the effects of a trade war between the likes of the EU, the U.S. and China. Paschal Donohoe told CNBC’s Willem Marx Wednesday that the country’s open and globalized economy does leave it exposed to unpredictable taxes and tariffs. President Donald Trump will arrive in Ireland later Wednesday to hold talks with Prime Minister Leo Varadkar. The two are expected to discuss a range of issues, including Brexit and trade


The finance minister of Ireland conceded that his country’s economy is at risk to the effects of a trade war between the likes of the EU, the U.S. and China. Paschal Donohoe told CNBC’s Willem Marx Wednesday that the country’s open and globalized economy does leave it exposed to unpredictable taxes and tariffs. President Donald Trump will arrive in Ireland later Wednesday to hold talks with Prime Minister Leo Varadkar. The two are expected to discuss a range of issues, including Brexit and trade
Ahead of Trump arrival, Ireland’s finance minister sounds trade warning Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: david reid
Keywords: news, cnbc, companies, irelands, economy, sounds, arrival, minister, irish, ahead, finance, trump, ireland, expected, look, trade, warning, varadkar


Ahead of Trump arrival, Ireland's finance minister sounds trade warning

The finance minister of Ireland conceded that his country’s economy is at risk to the effects of a trade war between the likes of the EU, the U.S. and China.

Paschal Donohoe told CNBC’s Willem Marx Wednesday that the country’s open and globalized economy does leave it exposed to unpredictable taxes and tariffs.

“Anything that happens in global trade does have an effect on the performance of our economy and there is a vulnerability that could develop into the future,” Donohoe said.

President Donald Trump will arrive in Ireland later Wednesday to hold talks with Prime Minister Leo Varadkar. The two are expected to discuss a range of issues, including Brexit and trade.

Donohoe said he expected Varadkar to spell out to Trump that U.S. exporters looking to sell in Europe, or in other parts of the world, would find Ireland an attractive place to set up base. The finance minister said evidence of this trend was already underway.

“Since the focus on President Trump’s trade policy has grown, we have actually seen more international investors and companies wanting to be here in Ireland.”

Donohoe added that the Irish leader would also look to strengthen its labor presence within the U.S.

“We want to look at how we can deepen Irish investment and job creation in America over the coming years,” he said.

Ireland and Brexit


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: david reid
Keywords: news, cnbc, companies, irelands, economy, sounds, arrival, minister, irish, ahead, finance, trump, ireland, expected, look, trade, warning, varadkar


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Facebook, Amazon, Netflix and Google are flashing a warning signal for the entire stock market

Fear of increased government scrutiny has pushed the most popular stocks of this bull market into a precarious chart pattern, which could signal more pain ahead for the group and the rest of the stock market. A chart analyst at Bank of America Merrill Lynch tracked the performance of the four ‘FANG’ names — Facebook, Amazon, Netflix, and Google-parent company Alphabet — versus the broader S&P 500 since December 2017. “This was a canary in the coal mine for the late-2018 U.S. equity market correc


Fear of increased government scrutiny has pushed the most popular stocks of this bull market into a precarious chart pattern, which could signal more pain ahead for the group and the rest of the stock market. A chart analyst at Bank of America Merrill Lynch tracked the performance of the four ‘FANG’ names — Facebook, Amazon, Netflix, and Google-parent company Alphabet — versus the broader S&P 500 since December 2017. “This was a canary in the coal mine for the late-2018 U.S. equity market correc
Facebook, Amazon, Netflix and Google are flashing a warning signal for the entire stock market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: jr reed
Keywords: news, cnbc, companies, google, stocks, shoulders, netflix, sp, group, fang, flashing, head, amazon, high, 500, pattern, warning, signal, entire, stock, market, facebook


Facebook, Amazon, Netflix and Google are flashing a warning signal for the entire stock market

Fear of increased government scrutiny has pushed the most popular stocks of this bull market into a precarious chart pattern, which could signal more pain ahead for the group and the rest of the stock market.

A chart analyst at Bank of America Merrill Lynch tracked the performance of the four ‘FANG’ names — Facebook, Amazon, Netflix, and Google-parent company Alphabet — versus the broader S&P 500 since December 2017. A “head and shoulders” pattern, which in the past has signaled a top, has formed in those ‘FANG’ stocks once again, just as they did last year before the group and the rest of the market fell apart.

“Early-October 2018 saw Facebook, Amazon, Netflix and Google (FANG) break below a short-term uptrend after forming a head and shoulders top,” said Stephen Suttmeier, chief equity technical strategist at Bank of America-Merrill Lynch, in a note on Wednesday. “This was a canary in the coal mine for the late-2018 U.S. equity market correction.”

“Past weeks have seen the emergence of a similar head and shoulders top on FANG, supported by a similar breakdown relative to the S&P 500, confirming a pullback for the S&P 500,” he added.

The ‘FANG’ stocks formed their most recent head and shoulders pattern after the group hit a high in March, a higher high in April, and a lower high in late May.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: jr reed
Keywords: news, cnbc, companies, google, stocks, shoulders, netflix, sp, group, fang, flashing, head, amazon, high, 500, pattern, warning, signal, entire, stock, market, facebook


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China warns citizens against travel to the US

A group of Chinese tourists take photographs on the National Mall with the U.S. Capitol in the background on April 23, 2018. China’s Ministry of Foreign Affairs announced a safety warning on Tuesday for Chinese citizens and companies in the U.S.. according to state broadcaster CCTV. “The Foreign Ministry and the Chinese Embassy and Consulate in the U.S. warn Chinese citizens and Chinese-invested institutions to raise their safety awareness, strengthen preventative measures, and respond properly,


A group of Chinese tourists take photographs on the National Mall with the U.S. Capitol in the background on April 23, 2018. China’s Ministry of Foreign Affairs announced a safety warning on Tuesday for Chinese citizens and companies in the U.S.. according to state broadcaster CCTV. “The Foreign Ministry and the Chinese Embassy and Consulate in the U.S. warn Chinese citizens and Chinese-invested institutions to raise their safety awareness, strengthen preventative measures, and respond properly,
China warns citizens against travel to the US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: evelyn cheng
Keywords: news, cnbc, companies, according, chinese, safety, ministry, china, citizens, warns, travel, warning, traveling, studying, tourists, foreign


China warns citizens against travel to the US

A group of Chinese tourists take photographs on the National Mall with the U.S. Capitol in the background on April 23, 2018.

Beijing has stepped up its warnings against the U.S. by cautioning about working, studying and traveling in America.

China’s Ministry of Foreign Affairs announced a safety warning on Tuesday for Chinese citizens and companies in the U.S.. according to state broadcaster CCTV.

“Recently, U.S. law enforcement agencies have on multiple occasions used methods such as entry and exit checks, and on-site interviews to harass Chinese citizens in the U.S.,” the ministry said, according to CCTV.

“The Foreign Ministry and the Chinese Embassy and Consulate in the U.S. warn Chinese citizens and Chinese-invested institutions to raise their safety awareness, strengthen preventative measures, and respond properly,” it added.

“In case of emergency, please promptly contact the Chinese consulate in the U.S. for help.”

The Ministry of Culture and Tourism also issued an alert Tuesday for Chinese tourists traveling to America. “Recently, shootings, robberies and theft have occurred frequently in the U.S.,” the ministry said on its website in Chinese, according to a CNBC translation.

Tuesday’s announcements follow the Ministry of Education’s warning on Monday for Chinese students studying abroad that noted recent U.S. restrictions on some Chinese student visas.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: evelyn cheng
Keywords: news, cnbc, companies, according, chinese, safety, ministry, china, citizens, warns, travel, warning, traveling, studying, tourists, foreign


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