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Specialty steel manufacturer Allegheny Technologies (NYSE: ATI) has been trending lower since late February.This is yet another potential problem for the stock.
%The Tickeron Trend Prediction Engine generated a bearish signal for Allegheny on June 6.
Media giant Viacom (Nasdaq: VIAB) has seen its stock rally in the last couple of weeks, but if you look at a long-term chart of the stock you will see that the stock has been in a downward trend.The rally in the last few weeks has brought the stock up to the downward sloped trend line.
On the daily chart, the daily stochastic readings had reached overbought territory in the last few days, but the indicators made a bearish crossover on June 7.
The Tickeron Trend Prediction Engine generated a bearish signal for Viacom on June 6 and the signal showed a confidence level of 69%.
Bernstein downgraded shares of Beyond Meat Wednesday on valuation concerns, joining J.P. Morgan as the latest Wall Street firm this week to cool on the red-hot IPO.
There are now no analysts on Wall Street who recommend buying Beyond Meat, a rare phenomenon for a company that just went public last month and comes as a result of its monster run outpacing even the must bullish expectations.
Evercore analysts expect another leg down in the memory chip market in the fourth quarter of 2019 and now see the industry’s recovery pushed to the second half of next year.
As a result, they said they are becoming more selective in the chip sector and slashed price targets on some stocks.
Two of the world’s most influential economic leaders have warned that there are troubling developments arising from increased trade barriers and tariffs.
Mario Draghi, the president of the European Central Bank (ECB) and Christine Lagarde, the managing director of the International Monetary Fund (IMF) warned that the global trade dispute between the U.S. and China as well as a threatened dispute with Europe and other industrial nations could cause headwinds for all and could get worse.
Dollar Tree's stock price increased almost +2% Tuesday, following a rating upgrade by J.P. Morgan.
J.P.The investment bank set a $122 per share price target on the shares, representing a 17.5% upside from the stock's closing price on Monday.
The bank’s analysts project high-single net income growth and low-double-digit consolidated EPS growth beyond FY19 for Dollar Tree.
European businesses are increasingly anticipating a recession in the near future as bad debt losses showed a marked increase in 2018.
Companies reported 2.31% in bad debt losses in 2018 as a share of total revenues, an increase from 1.69% in 2017, according to a report from Swedish debt purchaser Intrum.
China will not allow the U.S. to interfere in its legislative process and economic policies, but it seems to be showing a readiness to keep its sales in American markets on a steep and steady downward path.
According to data released June 6 by the U.S. Department of Commerce, Chinese goods exports to the U.S. in the first four months of this year declined 12.8% from the same period of 2018, driving the trade surplus down 10%.
President Donald Trump said Tuesday that the U.S. dollar is at a disadvantage compared with other major currencies like the euro as central banks keep interest rates low while the Federal Reserve’s rates are higher by comparison.
“The Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage,” Trump tweeted, adding the Fed doesn’t have “a clue.”
The tax preparation company also announced a raise in its dividend, and expressed its plans to acquire Canadian firm Wave Financial.
The company’s first-quarter earnings came in at $4.32 a share, compared to analysts’ estimates of $4.13 a share (based on FactSet poll).Revenue of $2.33 billion was higher than the year-ago quarter’s $2.39 billion.
H&R Block is hiking its quarterly dividend by 4% to 26 cents a share, or $1.04 annually.
The company also revealed that it will acquire Toronto-based Wave Financial, subject to regulatory approval.
On Tuesday, Beyond Meat got a rating downgrade from J.P. Morgan analysts.
Since their IPO in May 3, shares of the plant-based meat substitutes producer has skyrocketed around +600% – something that J.P. Morgan feels reflects a valuation that could potentially make the company vulnerable to a substantial correction in the event of any hiccup in performance.The investment bank downgraded the stock to “neutral” from “overweight” and maintained its price target of $120.
However, J.P. Morgan has also indicated that it is not keen on an “underweight” rating on Beyond Meat at this point, since it is hopeful that the latter’s 2019 fundamentals are likely to surpass the Street expectations.
Digital image publishing company Shutterfly has agreed to get acquired by private equity firm Apollo Global Management.
In a deal valuing Shutterfly at $2.7 billion, Apollo will use cash to buy all outstanding shares at $51 per share – which represents a 1.5% premium to Shutterfly’s closing price on Monday.
Last month, Shutterfly reported a loss of $2.44 a share on revenue of $324.7 million for the first quarter, thereby surpassing analysts’ expectations.The company predicted that its earnings would range between 61 cents and $1.11 a share for the full year, compared to analysts’ projection of 71 cents a share on revenue of $2.17 billion for year.
Goldman Sachs is warning that a growing consensus that the Federal Reserve will cut rates soon is misguided.
Chairman Jerome Powell said last week the Fed will “act as appropriate to sustain the expansion, ” which the market interpreted as a signal of rate cuts on the horizon.
The investment bank also pointed out that a levered balance sheet might be hindering the ability for Molson to make “bold” decisions.
Credit Suisse also indicated that Molson Coors shares have fallen 40% since YE 2016 with fundamentals in nearly every region having worsened.The bank does not perceive any clear path toward stabilization for the brewing company.
A month ago, Molson Coors reported adjusted earnings of 52 cents per share, lower than analysts’ expectations of 57 cents per share (based on Zacks poll).
Real-estate brokerage company Redfin’s shares climbed more than +6% Monday, following a rating upgrade by Stephens.
Stephens analyst John Campbell raised his rating on the stock to overweight from underweight.He also increased his price target to $23 from $18.
Campbell cited Redfin’s market position, strategy, its drive towards e-commerce as factors behind the optimism.
Cloud-based software company Salesforce.com has decided to acquire big data/visualization software firm Tableau Software for around $15.3 billion, as announced on Monday.
As part of the all-stock deal, Tableau shareholders would receive 1.103 shares of Salesforce, which represents an offer of around $177.88 per share - a 42% premium on Tableau’s Friday closing price.In 2018, it bought software maker MuleSoft for $5.9 billion.
The news sent Tableau shares soaring more than +30% Monday.
U.S.Treasury Secretary Steven Mnuchin said on Sunday that President Donald Trump might ease U.S. restrictions on Huawei if there was progress in the trade row with China - but absent a deal, Washington would maintain tariffs to cut its deficit.
Gardner Denver Holdings (NYSE: GDI) makes industrial compressors, blowers, pumps, and other aftermarket parts for industrial, energy, and medical companies.That is a gain of 93.7% in less than five months—pretty impressive.
If we look at the daily chart we see that a trend line connects the lows from December and April.
It’s becoming a worrying trend that in the U.S., people are borrowing more and paying more each month for their auto loans.
Analysts recorded that the average amount borrowed to buy a new vehicle hit an unforeseen $32,187 in the first quarter of 2019, and the average used-vehicle loan also hit a record $20,137.Consequently, the average monthly payment for a new vehicle steadily rose to a new high of $554 and to $391 for used vehicles.
However, people with even the best credit scores are opting for used vehicles.