Check out the companies making headlines before the bell: Morgan Stanley – Morgan Stanley reported third-quarter profit of $1.27 per share, beating estimates by 16 cents a share. Revenue also beat analysts’ forecasts. Chairman and CEO James Gorman said the quarter was a strong one despite a typical summer slowdown and volatile markets. Honeywell – Honeywell
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Jefferies Financial (NYSE:JEF) analyst Owen Bennett downgraded Canopy Growth (NYSE:CGC) on Oct. 11 from a “buy” rating to “underperform,” while also cutting the target price from C$77 to C$25, a major blow to one of Canada’s leading cannabis companies. The analyst based his downgrade on a trio of factors: weak margins and a lack of
If you combined all the bullish arguments for Iqiyi (NASDAQ:IQ), the most commonly cited theme will likely be that the company is the Netflix (NASDAQ:NFLX) of China. And because China is more than four times larger than the U.S. population-wise, IQ stock represents untapped potential. Source: natmac stock / Shutterstock.com Further, because the Chinese government
Wednesday was a push-pull day with mixed results. Small-cap stocks were green while the larger indices were slightly red. Since we’ve had a few strong days of late this suggests that the bulls are still in charge of the equity price action. Source: Shutterstock After hours Netflix (NASDAQ:NFLX) and International Business Machines (NYSE:IBM) reported earnings
Today Cronos Group Inc. (CRON) announced an initial public offering of its 50/50 joint venture with NewSouthern Capital Pty Ltd. called Cronos Australia. The company is planning to offer 40 million shares in November. The IPO is anticipated to be priced around AUD$0.50 ($0.34) per share. Cronos Group is expected to own a 31% stake
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In this photo illustration, an ‘Impossible Whopper’ sits on a table at a Burger King restaurant on April 1, 2019 in Richmond Heights, Missouri. Burger King announced on Monday that it is testing out Impossible Whoppers, made with plant-based patties from Impossible Foods, in 59 locations in and around St. Louis area. Michael Thomas |
Fans gather at the Netflix booth at a trade show. Mike Blake | Reuters Check out the companies making headlines after the bell: Shares of Netflix surged more than 9% during extended trading after the company had a third-quarter earnings beat, though fell just shy of revenue estimates. The streaming giant posted earnings of $1.47
Following the news has been quite an endeavor for investors of large-capitalization publicly traded companies. Early last week, President Trump blacklisted several Chinese organizations, sending the broader indices downward. Later, a promising truce between U.S. and Chinese negotiators surprisingly emerged, boosting the markets. However, the roller-coaster ride probably has many folks thinking about lesser known
Tilray (NASDAQ:TLRY) has dropped more than 55% in the past two months since August 13 and over 61% in the past six months since April 26. In short, the jig is up. The market is not going to put up with Tilray stock as it remains unprofitable. Source: Jarretera / Shutterstock.com The fact that TLRY
After a strong earnings-driven rally yesterday, U.S. equity benchmarks gave back some of those gains Wednesday following some slack retail sales data. Source: Venturelli Luca / Shutterstock.com Retail sales dipped 0.30% in September, disappointing analysts that had been forecasting a 0.30% increase. In better news, the Commerce Department revised the August figure to a gain
At the lowest price in October since 2015 Inventories are climbing, but they will not hit four trillion cubic feet Oversold on the long-term chart going into the peak season Natural gas is one of the most volatile futures markets. Since the NYMEX first introduced the natural gas futures contract in 1990, the price traded
Virgin Galactic founder Richard Branson models the company’s new line of spacewear made by Under Armour. CNBC | Michael Sheetz Richard Branson‘s space tourism venture is closer to listing its shares publicly than some may expect and, once it begins flying regularly, the billionaire founder told CNBC that Virgin Galactic will look to expand its
Nobel Prize-winning economist Robert Shiller came to the New York Stock Exchange to discuss his new book, “Narrative Economics.” It’s a book about storytelling: Humans understand the world by telling stories, Shiller says. “The most natural thing in our brains to talk about is gossip, okay?,” Shiller said. “We love these stories. We center around
A Bank of America sign is displayed at the entrance of a branch in New York. Jin Lee | Bloomberg | Getty Images Check out the companies making headlines in midday trading: Bank of America — Shares of Bank of America rose 2% after reporting third-quarter profit and revenue that beat analysts’ estimates. The bank’s consumer
Electronic Arts (NASDAQ:EA) closed up 1.35% on Tuesday, but at $95.15, EA stock is off 4% over the past month. It has done well year-to-date (up about 20%), but over the past 12 months it’s down nearly 11%. And EA is nowhere close to last July when it was trading in the $148 range. Source:
Some investors believe that Intel (NASDAQ:INTC) stock is cheap because it trades at 11 times its forward price-earnings ratio. Others believe INTC stock isn’t cheap because its earnings growth continues to decelerate. Source: JHVEPhoto / Shutterstock.com I’m still upbeat about INTC stock, simply because Intel’s free cash flow generation continues to be strong. That’s a
With many of the major financial institutions posting strong numbers for the third quarter, bank stocks appear poised as the investment class to jump into. Recent fundamentals, such as a temporary thaw in the U.S.-China trade war, gives credence to this argument. However, I’m going to take a contrarian approach, suggesting that they’re instead stocks
Tuesday the bulls stomped and snorted their way into a 1% rally and the CBOE Volatility Index (VIX) fell 7% to an astonishing 13.5. This in itself is not that shocking, but considering the headline threats that still loom, the bulls are showing wimpish conviction. Source: Shutterstock Perhaps the earnings so far from the like
Whatever it is, here are the latest predictions from big institutions. Not exactly recently, but Citigroup went on record in early September saying they expect gold to hit 2000 USD/troy oz in the next 2 years. HSBC said yesterday they’re looking for 1605 by the end of 2020. Standard Chartered is looking for 1570 by the end of next