Month: July 2018

Morgan Stanley believes the dramatic drops in some high-flying technology stock this is month is further evidence the stock market will go lower. “From our vantage point, the weaker earnings beat from several Tech leaders and outright misses from Netflix and Facebook were simply additional support for our [defensive] call,” chief U.S. equity strategist Michael
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The market’s favorite technology stocks are tanking as investors growing concerned over the companies’ ambitious growth targets following disappointing financial results from Facebook and Netflix this month. The NYSE FANG+ index is down more than 10 percent from its high of 3,062.88 in mid-June after its 2.7 percent drop Monday to the 2,737 level. FANG
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Check out the companies making headlines after the bell: AK Steel plummeted more than 8 percent during after-hours trading on Monday, after missing second quarter earnings estimates. The company reported earnings of 18 cents per share, missing Wall Street estimates of 20 cents. Its reported revenues were in line with expectations at $1.75 billion for
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Heineken NV, the world’s second largest beer maker, cut its guidance for full-year margins on Monday after reporting first-half earnings below market expectations. The brewer of Heineken lager, Tiger, Sol and Strongbow cider forecast that its operating margin would decline by 20 basis points, compared with a previous forecast of 25 basis point increase. The
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Investors may want to consider unloading bonds in favor of crude oil. According to Bank of America-Merrill Lynch’s Paul Ciana, there are two particular charts that point to an oil breakout that could garner solid returns over the next 6 to 12 months. The firm’s chief global technical strategist’s first chart compares commodity prices to
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Amazon shares rallied after the e-commerce giant reported a second-quarter profit that doubled Wall Street’s expectations. Amazon’s stock jumped more than 4 percent in premarket trading Friday. “Amazon continues to perform at a level well-above its mega cap internet peers,” Barclays said in a note. “In a critical time, Amazon’s stellar sales and burgeoning margin
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The federal government acknowledged on Friday that your last few cellphones were more valuable than it thought. That disclosure came tucked in a package of revisions the government made to the economic growth statistics it published from 2012 to 2017. From time to time, data wizards at the Commerce Department take a new look at
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Perhaps other countries should be paying more for America’s innovative prescription drugs, former pharmaceutical exec Fred Hassan told CNBC. “A lot of wealthy countries, including our neighbor to the north, a lot of the countries in Western Europe, Japan, they should be paying more,” Hassan, former chairman and CEO of Schering-Plough, which was acquired by
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