Dow drops 200 points after worse-than-expected manufacturing data

The Dow Jones Industrial Average fell 200 points, or 0.8%. Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate


The Dow Jones Industrial Average fell 200 points, or 0.8%.
Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.
Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.”
Trade worries also offset stronger-than-expected manufacturing data out of China.
The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate
Dow drops 200 points after worse-than-expected manufacturing data Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


Dow drops 200 points after worse-than-expected manufacturing data

Monday’s losses came after a strong performance in November. The major averages had their biggest monthly gains since June, rallying to record highs. The S&P 500 climbed 3.4% last month while the Dow advanced 3.7%. The Nasdaq rallied 4.5%.

The Dow Jones Industrial Average fell 200 points, or 0.8%. The S&P 500 pulled back 0.8% while the Nasdaq Composite traded 1.4% lower. The major averages started off the session with slight gains before turning lower.

Stocks dropped on Monday, the first trading day of December, as investors digested disappointing economic data along with the latest trade news after capping a month that featured blistering gains.

A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.

“The trend and momentum going into December are bullish,” said Bruce Bittles, chief investment strategist at Baird. “However, investor optimism is registering as excessive by many of the services we follow. While optimism is not euphoric, excessive investor optimism generally suggests a pause in a bull market.”

Manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said. The ISM Manufacturing PMI dipped to 48.1 in November. That’s below an estimate of 49.4. Stocks hit their session lows after the data was released.

“All in all, this should take some wind out of the sails of the argument that the U.S. economy is accelerating going into the end of the year,” said Jon Hill, vice president of rates strategy at BMO Capital Markets.

Sentiment was also dented after President Donald Trump said China still wants to make a deal on trade, “but we’ll see what happens.” There is no clear indication of when both countries will be able to sign an agreement and last week saw fresh tension between Washington and Beijing after Trump signed legislation supporting protesters in Hong Kong.

That comment came after Chinese state media reported Sunday that Beijing wants a cancellation of tariffs for a phase one trade deal.

Trump also said Monday he will restore tariffs on metal imports from Brazil and Argentina. In a tweet, he said: “Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries.”

Trump noted in a separate tweet that “U.S. markets are up as much as 21%” since his first tariffs announcement on March 1, 2018, adding the U.S. is “taking in massive amounts of money.”

The percolating uncertainty around trade came despite Axios reporting, citing a source, that Trump is expected to hold off on additional tariffs against China set to kick in this month in the hopes of striking a deal before year-end.

Trade worries also offset stronger-than-expected manufacturing data out of China. The Caixin/Markit manufacturing Purchasing Managers’ Index came in at 51.8 for November, topping a Reuters estimate of 51.4.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: fred imbert
Keywords: news, cnbc, companies, dow, points, 200, month, came, wants, worsethanexpected, manufacturing, tariffs, optimism, trade, drops, data, trump, china


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Goldman Sachs shares slump after posting worse-than-expected revenue decline

Goldman Sachs shares declined after posting first-quarter revenue below analysts’ estimates on tougher market conditions for the firm’s trading and investing divisions. The bank said Monday that revenue dropped 13 percent to $8.81 billion, below analyst’s $8.9 billion estimate. Considering the impact that tough trading conditions had on revenue, Goldman pulled a lever at its disposal: It lowered compensation for its employees. The investing and lending segment posted $1.84 billion in revenue, a


Goldman Sachs shares declined after posting first-quarter revenue below analysts’ estimates on tougher market conditions for the firm’s trading and investing divisions. The bank said Monday that revenue dropped 13 percent to $8.81 billion, below analyst’s $8.9 billion estimate. Considering the impact that tough trading conditions had on revenue, Goldman pulled a lever at its disposal: It lowered compensation for its employees. The investing and lending segment posted $1.84 billion in revenue, a
Goldman Sachs shares slump after posting worse-than-expected revenue decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: hugh son
Keywords: news, cnbc, companies, slump, estimate, billion, decline, worsethanexpected, analysts, share, trading, bank, goldman, shares, posting, sachs, revenue, quarter


Goldman Sachs shares slump after posting worse-than-expected revenue decline

Goldman Sachs shares declined after posting first-quarter revenue below analysts’ estimates on tougher market conditions for the firm’s trading and investing divisions.

The bank said Monday that revenue dropped 13 percent to $8.81 billion, below analyst’s $8.9 billion estimate. Meanwhile, the firm generated $2.25 billion of profit in the period, or $5.71 a share, exceeding the $4.89 estimate, the New York-based firm said in a release. That was largely from reining in compensation more than analysts had expected, according to a research note from Citigroup.

Goldman shares fell 3% to $201.50 at 10:38 a.m.

“We are pleased with our performance in the first quarter, especially in the context of a muted start to the year,” Goldman CEO David Solomon said in the release. “Our core businesses generated solid results driven by our strong franchise positions. We are focused on new opportunities to grow and diversify our business mix and serve a broader range of clients globally.”

Considering the impact that tough trading conditions had on revenue, Goldman pulled a lever at its disposal: It lowered compensation for its employees. The bank booked $3.26 billion in pay and benefits for the quarter, 20% less than a year ago and well below the $3.58 billion estimate. The firm also trimmed headcount by 2% from the fourth quarter.

Its institutional client services trading division, the firm’s biggest business by far, posted $3.61 billion in revenue for the quarter, an 18 percent decline from a year earlier. Revenues from fixed income and equities trading came in at $1.84 billion and $1.77 billion, essentially matching analysts’ estimates.

The company’s investment banking division posted revenue of $1.81 billion, roughly unchanged from a year earlier, as the firm’s advisory revenue jumped 51% to $887 million on robust mergers and acquisitions activity. That handily exceeded the $744 million estimate.

The investing and lending segment posted $1.84 billion in revenue, a 14 percent decline that was just shy of analysts’ $1.87 billion estimate. The drop was driven by “significantly lower net gains” from stakes in private equities and debt holdings.

But it was in Goldman’s smallest division, investment management, where results missed analysts expectations by the biggest margin. Revenue dropped by 12% to $1.56 billion, below analysts’ $1.71 billion estimate, on “significantly lower incentive fees and lower transaction revenues” amid tough markets.

The firm’s provision for credit losses climbed to $224 million in the quarter, roughly unchanged from the previous period but surging from the first quarter of 2018, where it was $44 million, as Goldman expanded its retailing lending operations.

The bank’s board voted to increase its quarterly dividend by 5 cents to 85 cents per share, a move that had been expected by investors.

It’s only Solomon’s second quarter running the bank, but analysts will have plenty of questions for him.

The investment bank, which historically counted governments, corporations and hedge funds as clients, took a notable step in its journey into consumer finance last month when its joint credit card with Apple was announced. Analysts will want to know what the economics of the deal mean for the New York bank.

The firm is working to grow existing businesses, diversify its businesses with new products and services and improve efficiency, Solomon said Monday.

Still, of the six biggest U.S. banks, Goldman is the most dependent on Wall Street activities, and that exposes them to the decline in trading in the quarter. J.P. Morgan Chase said last week that first-quarter trading revenue dropped 17 percent to $5.5 billion.

Solomon or CFO Stephen Scherr might also provide updates on a strategic review announced in October and progress on the bank’s $5 billion revenue-boosting plan, according to analyst Jason Goldberg of Barclays.

The bank is cutting expenses and capital from underperforming parts of the commodities business, Scherr said.

Another topic of discussion may be the bank’s 1MDB scandal. Goldman’s shares were battered last year in part because of the scandal, in which an ex-Goldman partner admitted to helping a Malaysian financier loot an investment fund of billions of dollars.

The shares have partially recovered this year, climbing more than 20 percent.

Here’s what Wall Street expected:

Earnings: $4.89 a share, down 30% from a year ago, according to Refinitiv.

Revenue: $8.9 billion, down 10% from a year earlier.

Trading revenue: Equities $1.81 billion; fixed income $1.77 billion, according to FactSet

Investing banking: $1.65 billion

Also Monday, Citigroup reported mixed first-quarter results, saying its earnings were boosted by share buybacks while revenues fell amid a sharp decline in equities trading. J.P. Morgan and Wells Fargo reported quarterly earnings on Friday that topped analyst expectations.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: hugh son
Keywords: news, cnbc, companies, slump, estimate, billion, decline, worsethanexpected, analysts, share, trading, bank, goldman, shares, posting, sachs, revenue, quarter


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Treasury yields fall as Chinese data disappoints; traders look ahead to Fed meeting

U.S. government debt prices rose on Friday as traders digested fresh economic data out of China and looked ahead to next week’s Federal Reserve meeting. The yield on the benchmark 10-year Treasury note fell steeply to 2.875 percent, while the yield on the 30-year Treasury bond dropped to 3.136 percent. Bond yields move inversely to prices. Investors turned their attention to worse-than-expected Chinese data. News of the disappointing figures comes as China and the U.S. try to negotiate a trade d


U.S. government debt prices rose on Friday as traders digested fresh economic data out of China and looked ahead to next week’s Federal Reserve meeting. The yield on the benchmark 10-year Treasury note fell steeply to 2.875 percent, while the yield on the 30-year Treasury bond dropped to 3.136 percent. Bond yields move inversely to prices. Investors turned their attention to worse-than-expected Chinese data. News of the disappointing figures comes as China and the U.S. try to negotiate a trade d
Treasury yields fall as Chinese data disappoints; traders look ahead to Fed meeting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: ryan browne, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, treasury, chinese, look, data, fall, worsethanexpected, yields, meeting, traders, rose, bond, widen, disappoints, fed, yield, china, trade


Treasury yields fall as Chinese data disappoints; traders look ahead to Fed meeting

U.S. government debt prices rose on Friday as traders digested fresh economic data out of China and looked ahead to next week’s Federal Reserve meeting.

The yield on the benchmark 10-year Treasury note fell steeply to 2.875 percent, while the yield on the 30-year Treasury bond dropped to 3.136 percent. Bond yields move inversely to prices.

Investors turned their attention to worse-than-expected Chinese data. The country’s industrial output in November grew 5.4 percent from the previous year, less than the 5.9 percent estimated by Reuters; retail sales, meanwhile, rose 8.1 percent last month, falling short of an expected 8.8 percent.

News of the disappointing figures comes as China and the U.S. try to negotiate a trade deal within a 90-day tariffs truce. Positive headlines around trade relations between the two had buoyed market sentiment earlier this week.

President Donald Trump said discussions with Beijing had been “very productive” and that some “important announcements” were forthcoming, while a Wall Street Journal report said China was preparing to widen foreign access to its economy.


Company: cnbc, Activity: cnbc, Date: 2018-12-14  Authors: ryan browne, bryan r smith, afp, getty images
Keywords: news, cnbc, companies, treasury, chinese, look, data, fall, worsethanexpected, yields, meeting, traders, rose, bond, widen, disappoints, fed, yield, china, trade


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AIG shares tumble as insurance giant posts worse-than-expected earnings, cites catastrophe losses

American International Group shares sank more than 9 percent Thursday after the insurance giant posted a disappointing 30 percent decline in adjusted income. AIG is trying to turn around its main business, selling property and casualty insurance to corporations, but California mudslides, major winter storms and other natural disasters cost the insurer $376 million. Taking out nonrecurring items, overall adjusted profit was $963 million, or $1.04 a share, down from $1.36 a share in last year’s fi


American International Group shares sank more than 9 percent Thursday after the insurance giant posted a disappointing 30 percent decline in adjusted income. AIG is trying to turn around its main business, selling property and casualty insurance to corporations, but California mudslides, major winter storms and other natural disasters cost the insurer $376 million. Taking out nonrecurring items, overall adjusted profit was $963 million, or $1.04 a share, down from $1.36 a share in last year’s fi
AIG shares tumble as insurance giant posts worse-than-expected earnings, cites catastrophe losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-03  Authors: liz moyer, adam jeffery
Keywords: news, cnbc, companies, sank, turn, shares, trying, giant, cites, worsethanexpected, posts, tumble, losses, selling, insurance, earnings, share, adjusted, storms, winter, catastrophe


AIG shares tumble as insurance giant posts worse-than-expected earnings, cites catastrophe losses

American International Group shares sank more than 9 percent Thursday after the insurance giant posted a disappointing 30 percent decline in adjusted income.

AIG is trying to turn around its main business, selling property and casualty insurance to corporations, but California mudslides, major winter storms and other natural disasters cost the insurer $376 million.

Taking out nonrecurring items, overall adjusted profit was $963 million, or $1.04 a share, down from $1.36 a share in last year’s first quarter.

Analysts were forecasting $1.26 a share.


Company: cnbc, Activity: cnbc, Date: 2018-05-03  Authors: liz moyer, adam jeffery
Keywords: news, cnbc, companies, sank, turn, shares, trying, giant, cites, worsethanexpected, posts, tumble, losses, selling, insurance, earnings, share, adjusted, storms, winter, catastrophe


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GE shares dive after ‘deeply disappointing’ $6.2 billion insurance portfolio charge

The bad news keeps piling up for General Electric shareholders as the company announced worse-than-expected insurance portfolio results. GE said Tuesday after a review of its GE Capital insurance portfolio that it will take a $6.2 billion after-tax charge for the fourth quarter of 2017 and expects to contribute $15 billion over the next seven years to shore up the portfolio’s reserves. General Electric also said on a call with investors that it will report 2017 earnings per share, ex-insurance c


The bad news keeps piling up for General Electric shareholders as the company announced worse-than-expected insurance portfolio results. GE said Tuesday after a review of its GE Capital insurance portfolio that it will take a $6.2 billion after-tax charge for the fourth quarter of 2017 and expects to contribute $15 billion over the next seven years to shore up the portfolio’s reserves. General Electric also said on a call with investors that it will report 2017 earnings per share, ex-insurance c
GE shares dive after ‘deeply disappointing’ $6.2 billion insurance portfolio charge Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-01-16  Authors: tae kim, alwyn scott
Keywords: news, games, cnbc, companies, charge, versus, insurance, company, 2017, dive, worsethanexpected, billion, 62, portfolio, electric, wall, disappointing, deeply, ge, shares


GE shares dive after ‘deeply disappointing’ $6.2 billion insurance portfolio charge

The bad news keeps piling up for General Electric shareholders as the company announced worse-than-expected insurance portfolio results.

GE said Tuesday after a review of its GE Capital insurance portfolio that it will take a $6.2 billion after-tax charge for the fourth quarter of 2017 and expects to contribute $15 billion over the next seven years to shore up the portfolio’s reserves.

General Electric also said on a call with investors that it will report 2017 earnings per share, ex-insurance charges, at the low end of its $1.05 to $1.10 guidance range versus the Wall Street consensus of $1.07.

Its shares dropped 3.8 percent Tuesday.

“At a time when we are moving forward as a company, a charge of this magnitude from a legacy insurance portfolio in run-off for more than a decade is deeply disappointing,” CEO John Flannery said in the release Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-01-16  Authors: tae kim, alwyn scott
Keywords: news, games, cnbc, companies, charge, versus, insurance, company, 2017, dive, worsethanexpected, billion, 62, portfolio, electric, wall, disappointing, deeply, ge, shares


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Analyst says iPhone X sales are ‘worse-than-expected,’ downgrades key Apple supplier

Recent reports of meager Apple iPhone X sales may be accurate, according to one Wall Street firm. Taiwan’s Economic Daily reported in late December the tech giant will cut its forecast for the iPhone X, citing unidentified sources. “IPhone X demand was lower than the iPhone 8/8 Plus due to the price tag and limited promotion. Based on our conversations with carriers, we saw worse-than-expected iPhone X demand.” The analyst noted that total iPhone demand “appears inline” to the firm’s estimates d


Recent reports of meager Apple iPhone X sales may be accurate, according to one Wall Street firm. Taiwan’s Economic Daily reported in late December the tech giant will cut its forecast for the iPhone X, citing unidentified sources. “IPhone X demand was lower than the iPhone 8/8 Plus due to the price tag and limited promotion. Based on our conversations with carriers, we saw worse-than-expected iPhone X demand.” The analyst noted that total iPhone demand “appears inline” to the firm’s estimates d
Analyst says iPhone X sales are ‘worse-than-expected,’ downgrades key Apple supplier Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-01-08  Authors: tae kim, getty images
Keywords: news, games, cnbc, companies, sellthrough, sales, key, demand, logic, worsethanexpected, apple, vinh, cirrus, supply, analyst, downgrades, stock, iphone, supplier


Analyst says iPhone X sales are ‘worse-than-expected,’ downgrades key Apple supplier

Recent reports of meager Apple iPhone X sales may be accurate, according to one Wall Street firm.

Taiwan’s Economic Daily reported in late December the tech giant will cut its forecast for the iPhone X, citing unidentified sources. The report spurred a sell-off in Apple’s stock the following day.

Now, KeyBanc Capital Markets is telling clients that demand for the iPhone X is below expectations and less than Apple’s iPhone 8 models.

“While iPhone X supply has improved meaningfully and remains very lean, feedback indicates sell-through has been somewhat disappointing,” analyst John Vinh wrote in a note to clients Sunday. “IPhone X demand was lower than the iPhone 8/8 Plus due to the price tag and limited promotion. However, the inventory level remains healthy given Apple just resolved the supply constraint. Based on our conversations with carriers, we saw worse-than-expected iPhone X demand.”

As a result, Vinh lowered his rating for Cirrus Logic, a leading provider of audio chips to smartphone makers, to sector weight from overweight. Apple represents 79 percent of Cirrus Logic’s sales, according to FactSet.

Apple’s stock was flat Monday morning, while Cirrus Logic fell 2.2 percent.

“Our latest handset surveys indicate the current iPhone 8/X is unlikely to be a catalyst for the [Cirrus Logic] stock as iPhone X sell-through has been disappointing despite meaningful improvements in supply,” Vinh wrote.

The analyst noted that total iPhone demand “appears inline” to the firm’s estimates due to iPhone 8 promotions.

“Our latest survey indicate buy-one-get-one-free (BOGO) promotions across all four major carriers for the iPhone 8 were effective in driving healthy sell-through and keeping inventories in check,” he wrote.

Apple and Cirrus Logic did not immediately respond to requests for comment.


Company: cnbc, Activity: cnbc, Date: 2018-01-08  Authors: tae kim, getty images
Keywords: news, games, cnbc, companies, sellthrough, sales, key, demand, logic, worsethanexpected, apple, vinh, cirrus, supply, analyst, downgrades, stock, iphone, supplier


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Snapchat is reportedly getting a completely new look next month

Snapchat’s biggest design shakeup since its launch is scheduled to take place in December, according to a report by Business Insider. The redesign would make the popular social media app “easier to use,” according to Evan Spiegel, the CEO of parent company Snap Inc. Although Spiegel didn’t indicate a timeline for when the new look would kick in, employees were reportedly notified that the overhaul would debut on December 4. Spiegel hinted that Snapchat could take on a more Facebook-like feed sys


Snapchat’s biggest design shakeup since its launch is scheduled to take place in December, according to a report by Business Insider. The redesign would make the popular social media app “easier to use,” according to Evan Spiegel, the CEO of parent company Snap Inc. Although Spiegel didn’t indicate a timeline for when the new look would kick in, employees were reportedly notified that the overhaul would debut on December 4. Spiegel hinted that Snapchat could take on a more Facebook-like feed sys
Snapchat is reportedly getting a completely new look next month Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-11-09  Authors: ryan browne, michal fludra, nurphoto, getty images
Keywords: news, games, cnbc, companies, design, according, snapchats, reportedly, snap, snapchat, look, company, worsethanexpected, report, business, spiegel, parent, month, completely, getting


Snapchat is reportedly getting a completely new look next month

Snapchat’s biggest design shakeup since its launch is scheduled to take place in December, according to a report by Business Insider.

The redesign would make the popular social media app “easier to use,” according to Evan Spiegel, the CEO of parent company Snap Inc.

Although Spiegel didn’t indicate a timeline for when the new look would kick in, employees were reportedly notified that the overhaul would debut on December 4.

Spiegel hinted that Snapchat could take on a more Facebook-like feed system, although a source told Business Insider that the new design would “still open to the camera.”

Wall Street has been unimpressed with Snapchat’s parent company this week, after the firm reported worse-than-expected third-quarter results on Tuesday.

Read the full report on Business Insider.

Disclosure: CNBC parent NBCUniversal is an investor in Snap.


Company: cnbc, Activity: cnbc, Date: 2017-11-09  Authors: ryan browne, michal fludra, nurphoto, getty images
Keywords: news, games, cnbc, companies, design, according, snapchats, reportedly, snap, snapchat, look, company, worsethanexpected, report, business, spiegel, parent, month, completely, getting


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Gold turns positive on weaker-than-expected US jobs numbers

Gold turned positive after U.S. jobs data for October yielded worse-than-expected numbers. Spot gold edged up 0.14 percent to $1,277.42 per ounce at 8:44 a.m. The precious metal was down prior to the news that the U.S. economy added 261,000 jobs in October, below the 310,000 jobs expected. U.S. gold for December delivery rose to break even at $1,278.10. The greenback had slipped on Thursday after Republicans in the U.S. House of Representatives released proposals to overhaul the tax code.


Gold turned positive after U.S. jobs data for October yielded worse-than-expected numbers. Spot gold edged up 0.14 percent to $1,277.42 per ounce at 8:44 a.m. The precious metal was down prior to the news that the U.S. economy added 261,000 jobs in October, below the 310,000 jobs expected. U.S. gold for December delivery rose to break even at $1,278.10. The greenback had slipped on Thursday after Republicans in the U.S. House of Representatives released proposals to overhaul the tax code.
Gold turns positive on weaker-than-expected US jobs numbers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-11-02
Keywords: news, games, cnbc, companies, positive, jobs, tax, yielded, gold, weeks, edged, welcoming, turns, fed, weakerthanexpected, numbers, worsethanexpected, data


Gold turns positive on weaker-than-expected US jobs numbers

Gold turned positive after U.S. jobs data for October yielded worse-than-expected numbers.

Spot gold edged up 0.14 percent to $1,277.42 per ounce at 8:44 a.m. ET, and was on track for its first weekly gain in three. It hit its highest in about two weeks, at $1,284.10, in the previous session.

The precious metal was down prior to the news that the U.S. economy added 261,000 jobs in October, below the 310,000 jobs expected.

U.S. gold for December delivery rose to break even at $1,278.10.

The dollar held steady versus a basket of currencies on Friday, as focus shifted to U.S. jobs data, with President Donald Trump’s nomination of Federal Reserve Governor Jerome Powell to be the next Fed chair coming as no surprise.

The greenback had slipped on Thursday after Republicans in the U.S. House of Representatives released proposals to overhaul the tax code.

Asian share markets edged higher on Friday as investors gave a guarded reception to the plans for massive U.S. tax cuts, while welcoming the appointment of a centrist at the helm of the Fed.


Company: cnbc, Activity: cnbc, Date: 2017-11-02
Keywords: news, games, cnbc, companies, positive, jobs, tax, yielded, gold, weeks, edged, welcoming, turns, fed, weakerthanexpected, numbers, worsethanexpected, data


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Cramer Remix: Why AMD’s weak guidance could have a ripple effect on the market’s hottest sectors

CNBC’s Jim Cramer has a special investing method for when a small, but market-wide decline hits stocks in the middle of earnings season. “So let me give you Cramer’s rules for sell-offs during earnings season, because earnings season is totally fraught with unusual risk and is quite different from Cramer’s rules for everyday sell-offs.” First, Cramer pointed out that the tidal wave of reports can be especially taxing on the analysts that cover stocks. Wednesday’s disappointments included AT&T’s


CNBC’s Jim Cramer has a special investing method for when a small, but market-wide decline hits stocks in the middle of earnings season. “So let me give you Cramer’s rules for sell-offs during earnings season, because earnings season is totally fraught with unusual risk and is quite different from Cramer’s rules for everyday sell-offs.” First, Cramer pointed out that the tidal wave of reports can be especially taxing on the analysts that cover stocks. Wednesday’s disappointments included AT&T’s
Cramer Remix: Why AMD’s weak guidance could have a ripple effect on the market’s hottest sectors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-10-25  Authors: elizabeth gurdus, michael nagle, bloomberg, getty images, david paul morris
Keywords: news, games, cnbc, companies, remix, guidance, worsethanexpected, markets, weak, sectors, cramer, hottest, amds, areas, thought, effect, rules, season, report, cramers, stocks, earnings, ripple


Cramer Remix: Why AMD’s weak guidance could have a ripple effect on the market’s hottest sectors

CNBC’s Jim Cramer has a special investing method for when a small, but market-wide decline hits stocks in the middle of earnings season.

“I’ve got a set of disciplines … that forces you to confront the ‘nothing’s down enough’ lame excuse for not taking action,” the “Mad Money” host said. “So let me give you Cramer’s rules for sell-offs during earnings season, because earnings season is totally fraught with unusual risk and is quite different from Cramer’s rules for everyday sell-offs.”

First, Cramer pointed out that the tidal wave of reports can be especially taxing on the analysts that cover stocks. Second, he tried to pinpoint what caused the sell-off.

Wednesday’s disappointments included AT&T’s worse-than-expected earnings report (which Cramer thought could be a buying opportunity seeing as the Time Warner merger should boost its cash flow); Chipotle’s growth-lacking report (which Cramer thought was not major enough to drag on the market); and Advanced Micro Devices’ weak profitability forecast.

“AMD’s guidance, which was sub-optimal, had a lasting impact on lots of areas within tech, and many of those areas had been strong,” Cramer said. “Still, though, I can’t countenance the idea that AT&T, Chipotle and AMD are responsible for the magnitude of today’s sell-off.”


Company: cnbc, Activity: cnbc, Date: 2017-10-25  Authors: elizabeth gurdus, michael nagle, bloomberg, getty images, david paul morris
Keywords: news, games, cnbc, companies, remix, guidance, worsethanexpected, markets, weak, sectors, cramer, hottest, amds, areas, thought, effect, rules, season, report, cramers, stocks, earnings, ripple


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Bed Bath and Beyond shares tumble after worse-than-expected sales

Bed Bath and Beyond’s stock plunged more than 12 percent during extended trading after the company reported same-store sales that fell well below Wall Street’s expectations. The retailer reported a same-store sales decrease of 2.6 percent. Bed Bath and Beyond announced sales of about $2.9 billion, a decrease of about 1.7 percent from the same time last year. Online sales represent only 15 percent of Bed Bath and Beyond’s sales, Temares said, meaning there is still room for “significant growth.”


Bed Bath and Beyond’s stock plunged more than 12 percent during extended trading after the company reported same-store sales that fell well below Wall Street’s expectations. The retailer reported a same-store sales decrease of 2.6 percent. Bed Bath and Beyond announced sales of about $2.9 billion, a decrease of about 1.7 percent from the same time last year. Online sales represent only 15 percent of Bed Bath and Beyond’s sales, Temares said, meaning there is still room for “significant growth.”
Bed Bath and Beyond shares tumble after worse-than-expected sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-19  Authors: angelica lavito, getty images
Keywords: news, games, cnbc, companies, bath, retailer, officer, shares, technology, sales, reported, decrease, tumble, samestore, worsethanexpected, temares, bed


Bed Bath and Beyond shares tumble after worse-than-expected sales

Bed Bath and Beyond’s stock plunged more than 12 percent during extended trading after the company reported same-store sales that fell well below Wall Street’s expectations.

The retailer reported a same-store sales decrease of 2.6 percent. Analysts had expected a decrease of 0.7 percent. While comparable sales for the company’s digital channels grew more than 20 percent, in-store sales fell by a number in the mid-single-digit percent range.

Bed Bath and Beyond announced sales of about $2.9 billion, a decrease of about 1.7 percent from the same time last year.

The retailer said restructuring costs, Hurricane Harvey and a new accounting standard weighed on its second quarter results.

“How [customers] discover product, their expectations and knowledge around pricing and services offered, and how they share their thoughts about their shopping experiences are all changing rapidly,” CEO Steven Temares said Tuesday on a call with analysts and investors.

Temares outlined initiatives Bed Bath and Beyond is pursuing to accomplish that goal. Those mentioned include adopting a new technology model, hiring a new chief information officer and the company’s first chief technology officer, and establishing a strategic portfolio management office.

Temares said Bed Bath and Beyond has launched four projects focused on meeting changing customer needs, improving margins, improving the retailer’s supply chain and optimizing inventory.

The customer-focused initiative is the furthest along of the four, he said. Realigning the store’s management structure, including last month’s decision to cut 880 department and assistant store manager positions, falls under that umbrella, he said.

Bed Bath and Beyond expects the initiatives to save $150 million over the next few years, a portion of which may be reinvested in the company.

Online sales represent only 15 percent of Bed Bath and Beyond’s sales, Temares said, meaning there is still room for “significant growth.”

Bed Bath and Beyond is opening a 525,000-square-foot fulfillment center in Las Vegas this fall, Temares said. It is also expanding its pilot same-day delivery service in Houston, Dallas and Washington, D.C., to include Seattle and two boroughs in New York City.


Company: cnbc, Activity: cnbc, Date: 2017-09-19  Authors: angelica lavito, getty images
Keywords: news, games, cnbc, companies, bath, retailer, officer, shares, technology, sales, reported, decrease, tumble, samestore, worsethanexpected, temares, bed


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