Boeing is under pressure following the crash of an Ethiopian Airlines 737 Max 8 over the weekend. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Chris Verrone, Brian Kelly and Dan Nathan.
LNG novice Anadarko, meanwhile, has had to go through the time-consuming process of locking in long-term buyers for its gas and multi-billion-dollar financing from banks mindful of Mozambique's 2016 credit default and geopolitical hazards. For this reason, Anadarko's project has been fully exposed to risk assessments made by buyers and financial institutions. "I think what they've done is built the first project that across the board responds to the shifts to contract structures and pricing and how you finance an LNG project," said Jason Feer of Poten & Partners, an industry consultancy.
Videogame and collectibles retailer (GME) (ticker: GME) finally has a new CEO. The company on Thursday afternoon announced the hiring of George Sherman, who had been CEO of Victra, a privately owned Verizon (VZ) retailer with more than 1,000 stores. Shares of GameStop, down about 16% this year through Thursday's close, were up less than 1% to $10.63 in after-hours trading.
The Dow?Jones?industrial average closed down 460.19 points, or about 1.8 percent, at 25,502.32. Meanwhile, the "yield curve" inverted for the first time since 2007.?That means a Treasury bill that matures in three months is yielding 2.45 percent -- slightly more than the yield of a Treasury note that matures in 10 years. While the yield curve is still often?a predictor of recessions, it may well not be imminent.
Core euro zone bond yields struggled to find uplift from the 2-1/2 year lows hit on Thursday after the Fed became the second major central bank to adopt a more dovish stance, signalling that central banks are looking to keep monetary conditions easy. Bond yields fell across developed markets after the U.S. Federal Reserve on Wednesday brought its three-year drive to tighten monetary policy to an end. Ten-year U.S. Treasury yields held close to 2.5 percent in early trade on Friday, while Japanese government bond (JGB) yields plunged to their lowest since November 2016.
"Being able to reduce those unnecessary [health care] costs, you know, the value created is going to start with a 'b' as in billion. "As we think about this new company [with Aetna], we're gonna manage it at an enterprise level," he tells CNBC's Jim Cramer. CVS Health CVS CEO Larry Merlo told CNBC Thursday that the health chain is unlocking growth opportunities despite the stock's downward trend since officially merging with Aetna in November.
Britain's Royal Bank of Scotland Group Plc is aiming to wind down 1 billion pounds of bank loans held by local councils across the country, The Guardian newspaper reported on Saturday. The development follows criticism from activists and John McDonnell, finance spokesman of Britain's opposition Labour Party, that high payments have led to diversion of cash from council services. RBS is aiming to wind down the loan portfolio by the end of the year, the newspaper report said, adding that the main method of executing the winding down is through loan redemptions.
Market share Most industry participants, including Nike, are posting stronger sales growth these days, but Lululemon has been operating at another level lately. Revenue gains clocked in at 21% last quarter to surpass the upgraded guidance that management had issued a few months earlier. Nike's growth, in contrast, has been in the high single digits.
Boeing is embroiled in the largest aviation investigation history into two plane crashes killing nearly 350 people. Rep. Sam Graves (R-MO) says Boeing is trying to mitigate their damage.
It's been a couple of weeks now since Canadian marijuana producer Aurora Cannabis (ACB) announced its appointment of Nelson Peltz, CEO and Founding Partner of investment management firm?Trian Fund Management, L.P., to be its new "Strategic Advisor." When that news broke, it sent Aurora Cannabis shares up 14% in a day. Cowen's Vivien Azer thinks that was the right reaction, reiterating an Outperform rating on ACB stock with a C$14.00, which implies about 15% upside from current levels. Viewing the news of Nelson Peltz's appointment in light of revelations gleaned from recent investor meetings with Aurora Chief Corporate Officer Cam Battley, Azer opines that it sees both parties benefiting from this partnership.
Canopy Growth (NYSE: CGC)?is Canada's largest marijuana stock by revenue, but its future is going to be far less determined by legal marijuana sales in Canada than it will be by sales in the United States. This leading purveyor of pot has already announced plans to create a hemp industrial park in New York state to establish a footprint in the world's biggest marijuana market, and on Thursday,?it announced it's acquiring?AgriNextUSA, a U.S. hemp-focused real estate company. Here's what Canopy Growth is saying about its plans to profit from potential U.S. legalization.
Biogen's BIIB March 21, 2019, share price drop of 29.2% on news that it has discontinued late-stage trials of an Alzheimer's treatment hurt few asset managers more than Pasadena-based PRIMECAP Management Company. As of year-end 2018, PRIMECAP firmwide owned 7.5% of Biogen's shares outstanding. All six PRIMECAP strategies owned Biogen, but its Vanguard funds had the most exposure.
The oil industry has been on a roller coaster for the last five years as oil prices have crashed, stabilized, rebounded, crashed again, and...well, you get the idea. This has made some investors nervous about getting into the oil sector, but there are still some excellent values despite industry volatility. John Bromels?(Apache Corporation): Things were looking pretty grim for independent oil and gas exploration and production companies at the end of 2018.
Cable crumbled after the European Union told May that she can only have a short extension to delay Brexit if Parliament ratifies the divorce deal in a vote she wants to hold next week. The political turmoil shows no sign of easing despite the looming departure, with French President Emmanuel Macron saying if May's plan fails to get Parliamentary approval again it would “guide everyone to a hard exit.” The pound could slump about 8 percent from current levels if the U.K. left the European Union without a deal, according to a Bloomberg survey. Option traders are betting on further losses, while fund managers are seeking help from constitutional experts to assess the potential fallout.
On Wednesday, March 20, 2019, I recorded my second biggest single-day loss ever of -$29,058.17, almost all of that due to a single trade. Although not my biggest loss ever, it is the largest I've had in recent history. It's also the worst one I've had since I started my challenge of growing my trading account from $583 to $1 million just over two years ago.
How Major Rare Disease Pharma Stocks Are Positioned in March(Continued from Prior Part)Analysts' recommendations and target price Wall Street analysts expect an upside potential of 25.99% for Jazz Pharmaceuticals (JAZZ) based on the stock's
Turkey's lira was one of the worst performers against the U.S. dollar in Friday trading — as the greenback rallied more than 5% against it — on track for its worst daily percentage drop since August. Well, Turkey's story hasn't been rosy for a while, and the chickens might be coming home to roost. Earlier this month, gross domestic product data showed that Turkey entered a technical recession in the fourth quarter of 2018.
With the legalization of recreational marijuana in Canada this past October, as well as ongoing state-level legalizations in the U.S. and abroard, sales estimates for the cannabis industry are growing like a weed. In January, following a rare rough quarter for pot stocks, more than a dozen marijuana stocks galloped higher by at least 50%. Although Wall Street coverage of cannabis stocks is still spotty at best, most marijuana stocks offer modest upside, based on Wall Street's consensus price targets.
All three major U.S. stock market indexes fell into negative territory on Friday after a reliable recession indicator turned red, and (NKE) (ticker: NKE) stock fell despite better-than-expected earnings in the third quarter after a disappointing sales forecast. After the close, Special Counsel Robert Mueller delivered his report on Russia's interference in the 2016 election to Attorney General William Barr, something that could create volatility next week. ...and look at some other economic indicators that suggest things aren't as scary as they seem.
Could Gold Prices Rise as Market Concerns Increase? (Continued from Prior Part)Fed's dovish stance The markets have been cautious since the Fed's two-day policy meeting ended on March 20.
Manufacturing activity in Europe, noted in a survey conducted by (INFO) fell more than expected in March, helping send German 10-year bond yields negative for the first time since 2016. A similar survey of U.S. manufacturers also disappointed. As a result, the 10-year Treasury yield fell 0.136 percentage point this past week to 2.459%, its largest weekly drop since December.
What happened Shares of Bank of America (NYSE: BAC) traded down 4% on Friday afternoon on investor fears that falling bond yields and the potential for a slowing economy will eat into results. Bank of America missed out on a Federal Reserve-inspired rally on Thursday, falling 1%, and continued its downward spiral on Friday as investors digested what the Fed's moves might mean for banks. So what Bank stocks, including Bank of America, were under pressure on Friday after the Federal Reserve indicated it intends to take a more cautious approach on interest rates due to fears of economic weakness.
Nike Inc. shares fell 5.7% in Friday trading after the global athletic giant gave fiscal fourth-quarter 2019 guidance that spooked investors, but analysts are still bullish thanks to the company's strong fundamentals. Nike (NKE)? reported a fiscal third-quarter earnings beat, but said fourth quarter revenue would feel an FX pinch of about six percentage points, “which would result in low-single digit reported revenue growth,” Andrew Campion, chief financial officer at Nike said on the earnings call, according to a FactSet transcript. The news sent Nike shares tumbling, pushing down the Dow Jones Industrial Average (DJIA)?.
Wall Street is pretty bullish on Lululemon Athletica, the hot sports-and-leisurewear brand that has seen its stock rise more than 70% over the last 12 months. Wedbush analyst Jen Redding downgraded Lululemon to Neutral from Outperform, lowering her price target by $21 to $155. Redding's cut is based on concerns that while the company's next earnings report, scheduled for Wednesday night, will likely match the Street's revenue estimates, the current year's margins could come in lower than expected because of product mix and price-point trends.
Aurora Cannabis leads the way forward in marijuana production In Canada, perhaps no pot stock has taken the need to secure market share in the early stages of recreational legalization to heart more than Aurora Cannabis (NYSE: ACB). Aurora, which is widely expected to set the pace for all marijuana growers with 700,000 kilos in peak annual output, has made four pretty sizable acquisitions over the past year. In chronological order, it has purchased: Saskatchewan-based CanniMed Therapeutics for about $852 million Ontario-based MedReleaf for roughly $2 billion South America's ICC Labs for approximately $200 million British Columbia's Whistler Medical Marijuana for a hair north of $130 million ...