Constellation Brands has agreed to build a large brewery in southeastern Mexico, with an investment of about $1.3 billion. This comes almost two-years after the beverage maker had a dispute with the Mexican government. According to the Wall Street Journal, Constellation and Mexican President Andres Manuel Lopez Obrador are expected to announce the plan to build the new brewery as soon as this...
Citigroup analysts’ top four semiconductor picks for 2022 are Applied Materials, Lam Research, Nvidia and Marvell Technology. On Applied Materials, the analysts mentioned that the company will gain from its 3-D device business, systems with multiple processors and substantial government spending on the chip sector. They have given a rating of buy and price target of $175 for Applied Materials...
On Monday, Apple shares climbed, after analysts at KeyBanc Capital Markets initiated coverage of the iPhone maker’s stock an 'overweight' rating and a $191 price target. According to KeyBanc analyst Brandon Nispel, Apple is growing its user base across all of its products and geographies, which should boost growth in the company’s key services unit. "We see growth and margin upside, strong...
Elon Musk unloaded 934,000 shares of Tesla on Thursday for $1.01 billion, according to a Securities and Exchange Commission filing. Since asking his Twitter followers on Nov. 6 whether he should dump 10% of his Tesla stake, the electric vehicle maker’s CEO has sold more than $10 billion of its Tesla stock. Musk probably must sell more than 12 million more shares to meet the target that he...
Ark Investment Management purchased $25 million of shares in trading platform Robinhood Markets . The purchase amounts to 572,717 shares valued at about $15.5 million via the ARK Innovation ETF, and 342,346 Robinhood shares worth $9.3 million through the Ark Fintech Innovation ETF. Prior to the latest purchase, ARKK and ARKF owned 13.2 million shares of Robinhood worth $356.74 million...
Pfizer and partner BioNTech are going to seek the approval of the U.S. Food and Drug Administration possibly this week to expand Covid-19 booster shot eligibility to 16- and 17-year-olds. Currently, 18 and older are eligible for booster shots six months after receiving the second shot of the Pfizer-BioNTech or Moderna vaccine. According to the Washington Post, the regulators are expected to...
The bullish head and shoulders are the opposite image of a bearish head and shoulders. It has all the same parts—two shoulders, a neckline, and the head. Only instead of the shoulders and head being formed at high points for the stock, they are formed at low points. Investor psychology is the opposite of the bearish pattern. The stock is falling and hits a temporary low to form the left...
Investing in stocks can be intimidating for someone who has never done it before. There are so many options, unknowns, and questions. How do you get started? How do you know which stocks to buy, and when do you sell? If you don’t have very much money, how do you diversify properly? Investing in stocks is challenging, but it doesn’t have to be intimidating. To make it easier, here is a...
Tesla CEO Elon Musk sold another 934,091 shares of the company worth $1.05 billion Tuesday, Tesla’s SEC filings revealed. He sold those shares after exercising options to purchase 2.15 million shares. Ever since Musk tweeted on Nov. 6 that he would dump 10% of his stock if Twitter voters approved, Musk has sold 9.2 million shares worth $9.9 billion. The stock has fallen 11% since Nov. 4...
Gap posted third quarter earnings that missed analysts’ expectations. The clothing retail company’s earnings came in at 27 cents compared to 50 cents expected by analysts polled by Refinitiv. Revenue of $3.94 billion also fell short of $4.44 billion expected. Gap’s inventories were down -1% at the end of the third quarter from a year ago. They were flat versus 2019. The company expects...
Nordstrom reported quarterly earnings that fell short of analysts’ expectations, amid rising labor costs hurting profits. The retail company’s earnings for the three months ending October came in at 39 cents vs. 56 cents expected by analysts polled by Refinitiv. Revenue of $3.64 billion, however, topped expectations of $3.55 billion. The company’s namesake department store brand’s revenue...
Oil prices fell on Tuesday, after President Joe Biden announced the release of 50 million barrels of oil from strategic petroleum reserves (SPR) stockpile. WTI futures contracts for January delivery fell $1.38 lower from Monday night's close at $75.38 a barrel immediately following news of the SPR release. Brent crude contracts for January delivery fell $1.02 to a two-month low of $78.74 per...
Zoom Video posted third quarter earnings that surpassed analysts’ expectations. The video conferencing company’s adjusted earnings for the three months ending October came in at $1.11 per share, above the $1.09 per share expected by analysts polled by Refinitiv. Revenue rose +35% from the year-ago quarter to $1.05 billion also topped analysts’ estimates of $1.02 billion. In the latest...
Before 2017, Bitcoin was mostly the province of cryptocurrency enthusiasts, with little mainstream recognition. But everything changed as prices skyrocketed. New investors jumped into the fray, eager to make their fast fortunes. Keeping with time-honored tradition in any booming market, scammers proliferated, equally keen to fleece neophyte, under-informed investors. Cryptocurrency investment...
Oil prices extended declines following reports that U.S. President Joe Biden has asked other major world leaders to authorize the release of petroleum reserves to offset the impact of OPEC production decreases. The current initiative also involves China -- following a virtual summit between Biden and President Xi Jinping earlier this week . The news comes amid surging gas prices in the United...
Cisco reported fiscal first quarter earnings that beat analysts’ expectations. However, the IT/networking company’s revenue fell short of estimates. The company’s earnings for the quarter came in at 82 cents per share, adjusted, vs. 80 cents per share as expected by analysts polled by Refinitiv. Revenue of $12.90 billion came in below the $12.98 billion expected by analysts, according to...
Retail company Lowe’s fiscal third quarter earnings surpassed analysts’ expectations on the back of strength in home professionals and online sales. For the quarter ended Oct. 29, the company’s earnings came in at $2.73, well above the $2.36 expected by analysts polled by Refinitiv, Revenue of $22.92 billion also beat analysts’ expectations of $22.06 billion. Lowe’s same-store sales grew by...
Nvidia shares got a downgrade from analysts at Wedbush to neutral from outperform, on valuation concerns. However, Wedbush analysts boosted price target on the semiconductor company’s stock $300 a share from $220 a share. According to a note to investors, while Wedbush analysts remain “very bullish” on Nvidia's near term prospects as well as longer term opportunities particularly around...
Agricultural machinery maker Deere & Co. and the United Auto Workers union have reached a third tentative contract agreement that could end a strike at the company that began Oct. 14. The decision is subject to a vote from employees The UAW said it will present Deere's best and final offer to employees for a ratification vote. The third tentative agreement includes modest modifications to its...
Boeing announced that it plans to open three new air freighter conversion lines for its 737-800BCF aircraft in North America and Europe over the next two years. The aircraft manufacturer said it will open one conversion line in 2022 at Boeing's London Gatwick Maintenance, Repair & Overhaul facility, its state-of-the-art hangar in the U.K., and two conversion lines in 2023 at KF Aerospace MRO...