In what seemed like an April Fools joke that had come one day late, news broke on April 2 that Luckin Coffee (NASDAQ:LK) COO Jian Liu had reported falsified sales numbers for 2019. The revelation sent LK stock down more than 80% in pre-market trading that day. Source: Keitma / Shutterstock.com Unfortunately for Luckin investors,
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Marathon Oil’s (NYSE:MRO) low oil production costs — combined with the likely rebound of oil prices and the oil price hedges the company has carried out — make MRO stock attractive at its current levels. Source: Jonathan Weiss / Shutterstock.com Marathon reportedly has very low oil production costs. With a $2.2 billion capital budget and
Michael Corbat, CEO of Citigroup at the 2018 WEF in Davos, Switzerland. Adam Galica | CNBC Citigroup reported first-quarter earnings on Wednesday. Here’s how the company did: Earnings: $1.05 per share vs $1.87 per share in the year-earlier period Revenue: $20.7 billion, up 12% from the previous year Net income: $2.52 billion, down 46% from
Miguel Diaz, who works for the City of Hialeah, hands out unemployment applications to people in their vehicles in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. Joe Raedle | Getty Images The number of workers filing for unemployment claims could again top 5 million for the week ended
Johnson & Johnson (NYSE:JNJ) stock, previously labeled a slow-growth “loser” pharmaceutical play, is now hot again. Source: Sundry Photography / Shutterstock.com Shares are up 19% since March 23. They rose almost 5% on April 14, after the company delivered a strong first quarter and said it was working on a vaccine for the novel coronavirus.
It’s been a strong start to the year for gold prices (GLD), and the metal is one of the few asset classes that are not only positive year-to-date but up double-digits. Unfortunately, for the bulls, we are now seeing the $2,500/oz and $3,000/oz price targets trotted out, and this is generally a bad time to be
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Tuesday’s price action in the stock market demonstrated hope that the worst was over and conditions would get better. Earnings-season jitters might exist, but they didn’t show up on this particular day. Today’s big stock charts feature names inching toward the green. Source: Shutterstock Some stocks started out flat and rose throughout the trading day.
Chesapeake Energy (NYSE:CHK) looks as though it’s up by an insane amount this morning, shifting from 13 cents per share to more than $15. Don’t be fooled. While CHK stock may be significantly higher, this is only due to a reverse stock split. Source: Casimiro PT / Shutterstock.com Due to the violent selloff and struggling
Although the major financial indices have printed some positive numbers on the board, arguably most investors are still waiting out this unprecedented storm. Yes, reasons for optimism exist. At the same time, more than 16 million Americans have lost their jobs over a three-week period during the novel coronavirus crisis. That translates to losing 10%
U.S. banks are not hesitating to set aside billions of dollars in case of coronavirus-driven loan losses because it allows them to mask substantial increases in quarterly trading revenue, Mohamed El-Erian said Wednesday. The chief economic advisor at Allianz acknowledged on CNBC that banks are certainly adding to their credit reserves in an anticipation of a wave of defaults related to the
Alex Gorsky, Chairman and CEO of Johnson & Johnson, rings the opening bell to celebrate the 75th anniversary of his company’s listing at the New York Stock Exchange, September 17, 2019. Brendan McDermid | Reuters Johnson & Johnson surprised investors with a modest dividend increase of 6.3%, followed by Procter & Gamble, which raised its
A woman wearing face mask walks by a closed store at Times Square on April 12, 2020 in New York City. Liao Pan | China News Service | Getty Images The two economic reports showed the double whammy of state shutdowns in mid-March on two pillars of the economy — the consumer and business. Both
Download Stig & Preston’s 1 page checklist for finding great stock picks: http://buffettsbooks.com/checklist Subscribe to We Study Billionaires podcast show: https://link.chtbl.com/WSB Have a question? Get your voice heard on the show: https://www.theinvestorspodcast.com/your-questions/ ABOUT THE EPISODE: On today’s show, we have a commodity investment expert, Marin Katusa. He talks about the supply-demand impacts of COVID-19 and
The stock market galloped higher on Tuesday, as earnings season gets underway. With that in mind, here’s a look at a few top stock trades. Top Stock Trades for Tomorrow No. 1: Bank of America (BAC) We’re seeing a disappointing pattern play out in the banks, as they fail to garner upside momentum. Bank of
Investing during the spread of the novel coronavirus means that you have to consider how companies are positioned during this challenging time. Some of them are positioned for success, while others aren’t. Unfortunately, buying Lyft (NASDAQ:LYFT) stock now would be an investment in a company that’s poorly positioned. Source: Allmy / Shutterstock.com A better alternative
While most investments have tumbled badly due to the novel coronavirus pandemic, a few like Starbucks (NASDAQ:SBUX) are notable for their uniquely frustrating journey. Source: monticello / Shutterstock.com Back in summer 2019, SBUX stock closed at a record high. However, when it became apparent that the U.S.-China trade war would worsen, shares quickly stumbled. Yet
CNBC’s Jim Cramer said that dominant U.S. companies are further solidifying their positions during the coronavirus pandemic, evidenced by the Nasdaq 100 being almost even for the year. “This is the big triumphing over the little guy and if you don’t mind making money in the market off that, that’s what’s going on,” Cramer said on “Squawk on the
How soon and how widely the coronavirus stay-at-home orders can be lifted has huge implications for the economy and corporate earnings. Stocks were higher on optimism the number of new virus cases are leveling and a reopening of the economy is on the horizon. However, there’s fear that an early opening could result in a
Wells Fargo (NYSE:WFC) just reported its first-quarter earnings on Tuesday. Since there was no dividend cut, WFC stock looks very attractive with its present 6.8% dividend yield. Source: Ken Wolter / Shutterstock.com Earnings per share on a non-GAAP basis were 74 cents per share, including addbacks due to deteriorating economic conditions. In effect, this is