But analysts expect the rise to be just temporary, amidst lingering concerns over a demand-supply imbalance.
Driven by healthy demand and a suitable equilibrium, oil prices rose consistently from January to October 2018.After reaching a four-year high of $86.74 per barrel in early October, oil prices dropped continuously.
After dropping nearly 25% in 2018, U.S. West Texas Intermediate crude futures ended the year at $45.55 a barrel.
To the relief of many Verizon customers who had feared a football playoff blackout, Verizon and Disney in a joint statement on Sunday announced that both companies have reached a broad-based distribution agreement.
Verizon, as per its current contract with Disney, is responsible for the distribution of various Disney-owned channels such as ESPN and ABC stations - like New York City’s WABC to its ~4.6 million subscribers.But the company faced a December 31 deadline just in time for the renewal of the contract, failure to which would have deprived more than 4.5 million Fios TV customers -- especially the millions of football fans’ access to the big playoff games like college football games on New Year’s Day and one of the NFL wild-card playoff games.
Although the details of the agreement are yet to be disclosed, this last-minute deal has helped end a high-stakes dispute over programming fees that threatened to drop Disney’s programming from the Fios TV network.
The dispute became publ
Beginning January 2, 2019, its new NYSE ticker symbol will be CPRI.
With the acquisition of Versace, a brand synonymous to Italian glamour, style and fashion industry, Capri now operates three luxury brands -- namely, Versace, Jimmy Choo and Michael Kors with pro-forma revenue of $6 billion and 1,238 stores combined.The Versace addition to Capri’s portfolio, according to analysts, is expected to increase the mix of the company's European revenue to 24% from 18%.
According to the terms of the deal, Capri Holdings acquired Versace for a total enterprise value of 1.83 billion euro (or approximately US$ 2.12 billion).
As of this weekend with only just over a day left in the quarter, Tesla still had over 3,000 Model 3 vehicles left in inventory in the US, according to a source familiar with the matter.READ MORE...
Amazon is reportedly planning to open more Whole Foods stores in the U.S.
According to a Wall Street Journal report, Amazon is looking for retail spaces in parts of Idaho, southern Utah and Wyoming – although no confirmation on the exact spots were made.
The expansion plan is expected to boost customer count for Amazon’s two-hour Prime Now delivery service.Citing sources,the report suggested that Amazon is planning to expand those services to almost all its 475 Whole Foods stores.
International Business Machines Corp. (IBM) has been a component of the Dow Jones Industrial Average since June 1979.READ MORE...
Verizon will continue to broadcast Disney content, with the two companies reaching “a broad-based distribution agreement” as announced by them.
Verizon Fios’ contract to carry programming from Disney Media Networks, including ESPN, and Disney-owned ABC stations, was scheduled to expire at year-end.But Sunday’s agreement on programming fees will now allow Fios’ 4.5 million TV subscribers to access Disney channels.
The two companies said about the deal, “details will be released in the coming days.”
Allegations against Google’s face recognition technology was shot down by a U.S. judge on Saturday.
In March 2016, some consumers filed a lawsuit in Illinois claiming that Google’s photo sharing and storage service violated users’ privacy by collecting/storing biometric data from people's photos via facial recognition software without their permission – a charge dismissed by a U.S. judge due to a lack of "concrete injuries."
Plaintiffs had asked more than $5 million collectively for all the state residents affected, according to court documents.
Those are the traditional levels considered to mark “oversold” territory for those two indicators.
The scan of the stochastic readings showed that 479 members of the S&P were in oversold territory after the decline on Christmas Eve.These are the seven stocks in the S&P that had stochastic readings above 30 on Monday, December 24.
The energy sector is down over 23% during that time.
Looking through a number of charts last evening, there are several utilities stocks with similar chart patterns.They have formed trend channels over the last six months, and when the sector got hit with some selling last week, many of them dropped down to their lower rails.
One such stock that caught my eye was NRG Energy (NYSE: NRG).
The relentless selling pressure on stocks over the last few months has presented an interesting situation on the S&P 500.If we look at a Raff Regression channel, the index has just ventured further away from the regression line than at any point since the low in 2009.
A Raff Regression channel starts with the regression line over the set period.
One utility stock that has held up and even gained ground in the last few months is NextEra Energy (NYSE: NEE).
The stock has formed a trend channel over the last six months with the lower rail connecting lows from June, September, and November.This is the first time the indicators have been in oversold territory since the end of September and only the second time in the last six months.
NextEra has mixed fundamentals readings.
Wells Fargo & Co. is paying $575M to settle state-level claims about sales practices and resolves investigations into their practices stemming from 2002 to 2017. The practices include opening fake accounts, charging improper mortgage rate-lock extension fees and forcing insurance policies on auto-lending customers.
“Wells Fargo customers entrusted their bank with their livelihood, their dreams and their savings for the future,” California Attorney General Xavier Becerra said in a statement.“Instead of safeguarding its customers, Wells Fargo exploited them, signing them up for products - from bank accounts to insurance - that they never wanted.” The bank said in a statement that it had already set aside $400 million for the settlement and would take a $175 million provision in its fourth-quarter results.
The deal includes rig design and a construction management contract, along with a five-year drilling contract with Chevron USA for one of its two ultra-deepwater drill-ships under construction in Singapore.The drilling contract has an estimated backlog of $830 million, excluding mobilization and reimbursables.
Should the contract be terminated for convenience by the customer, Transocean will be compensated for its incremental 20,000 psi subsea investment in the rig.
Referred by many as the no-frills airline, SAVE gave its investors a pleasant surprise in 2018 after its shares hit more than three-year high in early December, and now the company is worth around $3.8 billion after the year's gains.
The company revealed that it grew its profit during the fourth quarter and has given a positive forecast looking ahead.According to government data, Spirit was remarkably on time in 2018, with nearly 81% of its flights reached on time -- a stark turnaround from previous years and also outpacing close rivals American Airlines Group Inc. (AAL) and United Continental Holdings Inc. (UAL).
Meal-kit delivery company Blue Apron is hoping to boost profitability, through its tie-up with health company Weight Watchers International Inc.
Blue Apron is collaborating with Weight Watchers (WW) to offer a list of rotating recipes for delivery to the homes of WW members.In an interview Wednesday with the Wall Street Journal, Blue Apron CEO Brad Dickerson indicated that a partnership with WW will help his company stabilize its customer base without having to spend too much on advertising/promotions.
Last week, Blue Apron declined below $1 for the first time.
Netfix's executives are getting big raises after a banner year.
CEO Reed Hastings will get as much as $31.5 million in salary and stock options next year, the company disclosed Friday.READ MORE...
Instagram users found a surprising update when they went to check out some holiday photos Thursday morning: They now need to scroll or tap through their feed horizontally.
Shortly after the release, Instagram's Head of Product Adam Mosseri tweeted that it was meant to be "a very small test but we went broader than we anticipated."Many Instagram users reported that their feeds went back to the original vertical scrolling.
Under fire for stirring up distrust and violence, the social network has vowed to police its users.READ MORE...
But 2018 is shaping up to end with a very different story for Facebook, Amazon, Apple, Netflix and Google's parent, Alphabet.READ MORE...