Trading Ideas
eBay Drops After a Soft Quarter, Lowered Guidance
The online marketplace missed on revenue to end the first half and reduced its full-year outlook. Here’s what investors need to know. …read more […]
Year: 2018
Business News
FCC votes to refer Sinclair Tribune merger to administrative judge
The U.S. Federal Communications Commission said late on Wednesday it had voted unanimously to refer Sinclair Broadcast Group Inc’s $3.9 billion acquisition of Tribune Media Co to an administrative law judge, a blow to the firms’ chances of winning approval.
Trading Ideas
Alcoa cuts adjusted EBITDA forecast citing tariffs, shares slide
The company’s shares fell 2 percent in after-market trading, dragging shares of rival Century Aluminum Co down 1 percent. Alcoa now expects adjusted EBITDA to range between $3.0 billion and $3.2 billion, compared to its previous forecast of $3.5 billion to $3.7 billion. U.S. President Donald Trump imposed tariffs of 25 percent on imports of steel and 10 percent on aluminum on countries including Canada and Mexico and the European Union that went into effect in June. …read more […]
Business News
IBM gets boost from new businesses, tops estimates
International Business Machines Corp on Wednesday reported second-quarter profit and revenue that topped analysts’ expectations as it benefited from growth in higher-margin businesses including cybersecurity and cloud computing.
Business News
EBay revenue misses as weak U.S. sporting season hits StubHub
EBay Inc missed analysts’ estimates for second-quarter revenue on Wednesday, as its online ticket marketplace StubHub had a disappointing quarter, leading the e-commerce website to forecast underwhelming third-quarter results.
Trading Ideas
Tale of sex, deception emerges about suspected Russian agent
A 29-year-old gun-rights activist suspected of being a covert Russian agent was likely in contact with Kremlin operatives while living in the United States, prosecutors said Wednesday, accusing her of using sex and deception to forge influential connections. The woman, Maria Butina, was photographed by the FBI dining privately with a Russian diplomat suspected of being an intelligence operative in the weeks before the envoy’s departure from the U.S. last March, prosecutors said. The allegations add to the portrait of a Russian woman who the Justice Department says worked covertly to establish back-channel lines of communication to the …read more […]
Trading Ideas
AmEx 2Q profit rises, but there are worry spots on lending
NEW YORK (AP) — American Express said Wednesday that its second-quarter profit rose 21 percent from a year ago, as the credit card giant saw more customers spending on its namesake cards and a much lower tax rate. …read more […]
Trading Ideas
When It Comes to General Electric Stock, Patience Will Be Rewarded
Much-maligned General Electric (NYSE:GE) stock is the most heavily traded stock in the market. According to Bloomberg, the average trading volume on GE stock in 2018 is a whopping 80 million shares a day. The spike in trading volume is mostly due to the fact that GE stock is a near-$10 stock (low price) that is widely covered and followed by the media, analysts and investors (lots of catalysts). …read more […]
Trading Ideas
Sunken Treasure Ship Discovery Reports Roil Some Korean Stocks
British newspaper the Telegraph and local media reported that a salvage team discovered the Russian Imperial Navy cruiser Dmitri Donskoi. The warship sank off the island Ulleungdo 113 years ago, rumored to be carrying 200 tons of gold, the Telegraph said. Kosdaq-listed Jeil Steel Manufacturing Co. surged to its daily limit of 30 percent on Tuesday when the reports first surfaced, before erasing almost half of that gain on Wednesday. …read more […]
Business News
U.S. proposes expedited appeal in fight with AT&T over Time Warner purchase
The U.S. Justice Department has proposed an expedited schedule for an appeal of a judge’s ruling that allowed AT&T Inc to buy movie and TV show maker Time Warner, according to a court filing on Wednesday.
Business News
U.S. regulatory panel gives Zions Bancorp green light to shed Fed oversight
A top U.S. regulatory panel on Wednesday said it had preliminarily approved Zions Bancorp’s petition to shed Federal Reserve oversight on the basis it is not systemically important to the U.S. financial system, in a further sign of regulatory easing.
Business News
Microsoft’s focus on cloud, partnerships paying off
In the elevator industry, breakdowns are bad for business.
Business News
U.S. tariffs could raise auto prices by $83 billion: trade group
A group representing major automakers will tell the U.S. Commerce Department on Thursday that imposing tariffs of 25 percent on imported cars and parts would raise the price of U.S. vehicles by $83 billion annually and cost hundreds of thousands of jobs.
Business News
CITGO says CEO’s U.S. visa has been revoked
Citgo Petroleum Corp [PDVSAC.UL], the U.S. subsidiary of Venezuelan state-run oil company PDVSA [PDVSA.UL], said on Wednesday that the U.S. visa of its President and Chief Executive Asdrubal Chavez has been revoked.
Business News
S&P 500 climbs to over five-month high on strong earnings
The S&P 500 rose to its highest in more than five months and the Dow climbed for a fifth session on Wednesday as solid earnings boosted financial and industrial stocks and reinforced expectations for a strong second-quarter reporting season.