Historically, the highest readings have come at market tops and the lowest readings have come at market bottoms.
High readings themselves haven’t necessarily been a signal of an impending bear market, however. From 1997-2000, the index was above the 125 level and the market continued to move higher.However, when the index fell by more than 10% from its peak is when things started getting bad.
With the recent peak reading of 138.4, the index would need to drop down to 124.6 in order to represent a 10% decline.
Amgen Inc. is slashing prices of its cholesterol fighting drug Repatha, amidst rising healthcare costs and increased regulatory surveillance to protect patients from exorbitant medicine prices.
The biopharmaceutical company will reduce the U.S. list price of Repatha by -60% - from more than $14,000 a year to $5,850.In Q2, revenue from Repatha was $148 million – which beat estimates, was still much lower compared to analysts' previously high expectations about its success.
Walmart’s Jet.com will serve Blue Apron meal-kits starting Monday for New York City.
Jet.com will feature four Blue Apron meal kits.The e-commerce firm's angle in this deal seems to be expanding its footprints in the grocery space crowded by players like FreshDirect, Amazon.com Inc.’s Prime Now service, Ahold Delhaize’s Peapod.
Blue Apron, on the other hand, apparently hopes the collaboration with Jet.com would give new fodder to its meal delivery business which is suffering from cratering sales.
Ford is having a bad year in 2018.Now, the company is announcing layoffs.
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The combined entity could potentially emerge as the next behemoth in cloud computing – one of the most in-demand services today.
IBM will pay in cash to buy all shares in Red Hat at $190 each.The deal might close in second half of next year.
Cloud technology essentially provides services such as data storage, database management, networking, access to servers access , software solutions, analytics, intelligence and more via the internet.
Federal investigators are probing whether Tesla misstated information about production of its Model 3 electric sedans and misled investors about the company’s business, according to The Wall Street Journal.
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General Electric’s stock rally following appointment of a new CEO snapped last week, with its shares touching a new low on Friday.
In recent times, the company has been mired in deep-seated troubles including a cratering insurance business and challenges in its power-equipment segment.On Friday, GE stock price dropped more than -4% to $11.3 – its lowest since September 28 which was the last trading day before Culp was named CEO.
The stock’s decline over the whole of last week was around -10%.
Private equity firm KKR & Co., Inc. and some other companies invested a total $1.25 billion in video game developer firm Epic Games.
Epic Games, whose game 'Fortnite' gained roaring popularity, is valued at $15 billion as part of the new funding round (The Wall Street Journal reported on Friday, citing people familiar with the matter).Along with KKR, Iconiq Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins and Lightspeed Venture partners are the newest prominent names backing the gaming company.
In 2012, Tencent acquired 40% of Epic’s equity for $330 million.
You no longer need to pay extra for upgraded features while buying a Tesla Model 3 Performance.
Previously, one had to shell out an additional $5,000 for an upgrade package which included 20-inch wheels with sportier tires, better brakes, lower suspension, and a higher top speed – now, these features would be available to buyers at the base price itself (which starts at $64,000 for the Model 3 Performance) .
A statement from Tesla suggests that it periodically tweaks available options and packages to try to ensure the ‘smoothest ride’ for customers."
For the existing owners of Model 3 Performance cars who might feel they missed out on the upgrade perk, CEO Elon Musk tweeted that early buyers still got access to Tesla's Supercharging stations for free – something the the new purchases wouldn’t.
Japan and China signed a bilateral currency swap arrangement on Friday aimed at enhancing the financial stability of the two countries, the Bank of Japan said.
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Software firm Citrix Systems (Nasdaq: CTXS) has been able to remain above its 52-week moving average and could be using the trendline to bounce after reporting earnings.
Citrix reported earnings on Thursday morning and the company beat on the top and bottom lines.Earnings came in at $1.40 per share and that was 15 cents above the consensus of $1.25.
We see on the weekly chart that Citrix has been trending higher over the last two and a half years and a trendline has connected the lows over the last 15 months.
Both the companies entered into an agreement that will see the SunPower install solar power at two distribution centers and 19 Walmart stores in Illinois.
This 23MW energy project is set have a combination of rooftop and ground-mount systems, and is expected to start in the first half of 2019.
As per the Walmart officials, this is the first major step of the company towards its 2025 plan, by which the company plans to power half of its operations with renewable energy.However, the bigger picture for the company is to cut emissions in its global value chain by one billion metric tons by the year 2030.
Although the agreement value has not been disclosed by any of the parties, a multi-million dollar contract of this magnitude could prove to be highly beneficial for SunPower.
Houston, TX-based National Oilwell Varco Inc. is one of the global leaders in designing, manufacturing and selling of comprehensive systems, components, products and equipment used in oil and gas drilling and production worldwide.
After struggling through a difficult oil market downturn, the company in Q2 2018 not only posted positive numbers but also surpassed a majority of the analyst’s estimates quite comprehensively, thanks to the sustained progress in the oil market.
So as the company is about to publish its Q3 results, the investor community expects its performance to improve further, given the positive outlook given by the CFO in the previous quarterly call.
Here are three things to look for:
1) Look for rig technologies to lose some luster, largely owing to conversion of inventory into cash that has been slow to move during this prolonged downturn period (and also because of the industry hovering near its cyclical lows).
2) Look for wellbore technologies to mai
Next year, it might get costlier to taste Hershey’s chocolates.
The chocolate maker is planning to raise prices of one-fifth of its products by around 2.5% in 2019.Initially, Hershey had wanted to hike prices by summer.
In addition to price hikes, the company is focusing on digital strategies to milk a rapidly growing e-commerce market, while also adding new products and making acquisitions to boost revenues.
Chief executive officer Michele Buck indicated that the company’s association with SkinnyPop popcorn – following Hershey’s last year acquisition of Amplify Snack Brands – has turned out well for the company’s sales growth.
Also seeming to target an increasingly health-conscious population, Hershey announced this year that it would buy Pirate Brands from B&G Foods Inc. for $420 million.
Twitter beat earnings and revenues expectations in Q3, even with monthly active users lower than the previous quarter.
The social networking platform generated a $789 million profit, including one-time gains, compared to a net loss of $21 million in the year-ago period.Twitter claims the drop is due to its cleaning up the platform by removal of abusive users and fake accounts.
Its daily users however was up +9% in the past quarter, according to Twitter.
Blackstone Group LP ’s new infrastructure fund allows Saudi Arabia to invest at a discount.What it gets in return is massive funding from the kingdom.
For every dollar that an investor pays Blackstone to manage its cash, Saudi Arabia gets to pay 15 cents less.
Shares of Cathy Pacific fell today as a result of a major data breach of about 9.4 million passengers.
Cathay and its unit, Hong Kong Dragon Airlines Ltd, said information had been accessed without authorization and that in addition to 860,000 passport numbers and about 245,000 Hong Kong identity card numbers, the hackers accessed 403 expired credit card numbers and 27 credit card numbers with no card verification value (CVV).
There was no announcement on who breached the airline's data and Cathay said the Hong Kong Police had been notified about the breach, and that there was no evidence that any personal information had been misused.
AT&T reported mixed results for Q3 and indicated better days to come following its acquisition of media giant Time Warner this year.
The telecommunications company’s Q3 adjusted earnings came in at 90 cents per share, which is below average analyst expectations of earnings of 94 cents per share.The growth was “primarily due to the Time Warner acquisition,” as suggested by the company.
As for revenues, they were $45.7 billion for the quarter, beating average expectations of $45.63 million, according to data compiled by Bloomberg.
Mirroring a general decline in Americans’ preference for traditional pay-TV, AT&T experienced a 346,000 net loss in traditional video customers.
Google parent Alphabet (Nasdaq: GOOGL) is set to report earnings Thursday after the closing bell and the stock has hit a technical support level ahead of the report.
Like the rest of the tech sector, Google has been trending lower over the last few months and it is testing its 52-week moving average.In this case though, Google has another support level in addition to the moving average.
Over the last two years, all of the major dips in the stock can be connected with one trendline.
The New York State Attorney General says they will be suing Exxon Mobil alleging the company has misled investors and has understated risks from climate change regulations.
NY Attorney General Barbara Underwood, in an announcement, also alleges that former CEO and former Secretary of State Rex Tillerson "keen of the misrepresentations for years."
The statement also says, "Exxon built a facade to deceive investors into believing that the company was managing the risks of climate change regulation to its business when, in fact, it was intentionally and systematically underestimating or ignoring them, contrary to its public representations.