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Yahoo Business
Jan 23, 2020

Stocks Drop, Bonds Gain on Virus Fears; Oil Slides: Markets Wrap
(Bloomberg) -- For a fresh perspective on the stories that matter in Australian business and politics, sign up for our new weekly newsletter.European stocks dropped, U.S. equity futures drifted and Asian shares slumped on Thursday amid lingering concerns that a virus spreading from China to other countries could become a drag on global growth. Crude oil fell and Treasuries climbed.Travel and mining shares led the Stoxx Europe 600 Index lower. Asian stocks slid from Seoul to Sydney on worries the deadly pathogen will affect corporate sales and economies. China's Shanghai Composite Index plunged 2.8%, the biggest drop on the last trading day before China's Lunar New Year holiday in the benchmark's three-decade history. Contracts on the Dow Jones Industrial Average nudged lower while those on the S&P 500 and Nasdaq 100 indexes fluctuated.European bonds gained across the board, while the euro edged down before the region's central bank announces a policy decision later on Thursday. ECB President Christine Lagarde will speak to the press afterwards.With China moving to shut down travel in and out of Wuhan, the epicenter of the novel coronavirus that's killed 17 people so far, the threat to airlines and retailers is becoming increasingly clear. The risk, which is stirring memories of the SARS outbreak 17 years ago, is emerging just as evidence mounts that the global economy has turned a corner. Strong Australian job numbers Thursday were the latest sign; the country's currency outperformed global peers.

Yahoo Business
Jan 23, 2020

Landmark San Francisco Project Sold at Loss By China Builder
(Bloomberg) -- China's Oceanwide Holdings Co. has sold its San Francisco property project for about $1 billion, taking a loss on an ambitious development that was expected to include the city's second-tallest office tower but has lain idle for months.The Oceanwide Center site, which includes offices, upscale condos and a Waldorf Astoria hotel, faced "huge challenges" on construction and cost controls, the company said in a filing to the Shenzhen stock exchange late Wednesday.It expects to take a loss of about $276 million on the project, it said. The buyer was named as a unit of SPF Capital International Ltd., but no further details were given.Work on one of the San Francisco towers was halted in October. Oceanwide is also struggling to complete a project in Los Angeles that has been plagued by lawsuits from subcontractors and as the Chinese government cracks down on capital leaving the country.The disposal of the troubled project is Oceanwide's first retreat from the U.S. since it hit financial challenges in mid-2018, caused in part by $1.1 billion of acquisitions during an overseas buying spree by Chinese firms.Still, the sale will "substantially improve" cashflow and alleviate overseas' business risks, Oceanwide said in the filing. The developer is set to receive 4.4 billion yuan ($635 million) in the short term and more in future installments based on actual returns of the project in three years, it said.S&P Global Ratings said in a note Thursday that it expects Oceanwide to sell more assets as the company strives to manage maturities, particularly onshore. Oceanwide's debt maturing this year totals more than $5.8 billion, S&P estimates.Overseas, Oceanwide also ha

Yahoo Business
Jan 23, 2020

Chinese Stocks Plunge in Worst End to Lunar Year on Record
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.Panic coursed through the world's second-largest equity market as investors sold stocks on concern a deadly virus will worsen over China's week-long trading break.The Shanghai Composite Index settled 2.8% lower after the close of trading, the worst end to a Lunar Year in its three-decade history. More than 90% of the mainland's 4,000 stocks fell on volumes that were 20% above average, with foreign traders selling a record $1.7 billion worth of the shares via links with Hong Kong. The yuan weakened as much as 0.4% and government bond futures rose to the highest since 2016.Pressure is building on Beijing to contain a new SARS-like virus that's killed at least 17 people and infected hundreds. The coronavirus first appeared last month in the city of Wuhan in central China, a city with 11 million residents -- more than in London or New York -- that's now essentially in lockdown after officials halted public travel.Inside China's Virus Zone, Unease Grips a City in Lockdown"Fear and panic are rampant," said Wang Daixin, a fund manager at Bristlecon Pine Asset Management Ltd. "It's hard to tell how bad things will get before a turn for the better. I didn't get out when I had the chance to, so now I might as well sit it out rather than lose money. Others are offloading at whatever cost."The virus and its potential impact on the economy and financial system pose a growing challenge for President Xi Jinping. It c

Yahoo Business
Jan 23, 2020

Stocks Slide on Virus-Impact Concerns; Bonds Rise: Markets Wrap
(Bloomberg) -- For a fresh perspective on the stories that matter in Australian business and politics, sign up for our new weekly newsletter.Stocks, crude oil prices and the yuan dropped on Thursday on concerns about the impact of the new China virus on corporate sales and economic growth. The yen edged up with Treasuries.On the last trading day in China before the nation's epic holiday travel season begins, the country's stocks tumbled about 3%, the worst pre-new year loss on record. With China moving to shut down travel in and out of the epicenter of the novel coronavirus, Wuhan, the threat to businesses from airlines to retailers is becoming clear. U.S. and European futures dipped, and Asia-Pacific equity benchmarks slid from Tokyo and Seoul to Sydney.The risk is emerging just as evidence mounts that the global economy had turned a corner; strong Australian job numbers Thursday sent that country's dollar climbing."There's going to be no way for investors to make a decision or change positions until post-Chinese New Year," said Gavin Parry, chief executive at Parry Global Group in Hong Kong. Japanese pharmaceutical companies and makers of facemasks, such as 3M Co., will continue to trade on overseas markets during the holiday period and will likely see knee-jerk gains, Parry added.Next up, the European Central Bank is due to decide on policy Thursday, after which President Christine Lagarde is due for a press conference.Read more on the impact from the conoravirus:Inside China's Virus Zone, Unease Gri

Yahoo Business
Jan 23, 2020

That letter from the IRS could be a fake. Watch out for this tax scam and others in 2020
Crooks want your Social Security number and other personal information to file fake returns so they can to steal tax refunds.

Yahoo Business
Jan 22, 2020

Landmark San Francisco Project Sold at Loss by Chinese Developer
(Bloomberg) -- China's Oceanwide Holdings Co. has sold its San Francisco property project for about $1 billion, taking a loss on an ambitious development that was expected to include the city's second-tallest office tower but has lain idle for months.The Oceanwide Center site, which includes offices, upscale condos and a Waldorf Astoria hotel, faced "huge challenges" on construction and cost controls, the company said in a filing to the Shenzhen stock exchange late Wednesday.It expects to take a loss of about $276 million on the project, it said. The buyer was named as a unit of SPF Capital International Ltd., but no further details were given.Work on one of the San Francisco towers was halted in October. Oceanwide is also struggling to complete a project in Los Angeles that has been plagued by lawsuits from subcontractors and as the Chinese government cracks down on capital leaving the country.The disposal of the troubled project is Oceanwide's first retreat from the U.S. since it hit financial challenges in mid-2018, caused in part by $1.1 billion of acquisitions during an overseas buying spree by Chinese firms.Still, the sale will "substantially improve" cashflow and alleviate overseas' business risks, Oceanwide said in the filing. The developer is set to get 4.4 billion yuan ($635 million) in the short term and more in future instalments, it said.Oceanwide also has projects in New York and Hawaii. The developer bought 80 South Street in lower Manhattan in 2015 for $390 million and planned to build a mixed-use high-end condominium and hotel. Progress stalled after there were problems with plans to demolish some existing buildings.Outside real estate, Oceanwide is s

Yahoo Business
Jan 22, 2020

PG&E Wins Support From Key Bondholders for Restructuring Plan
(Bloomberg) -- After spending almost a year at war with some of the biggest names in the financial world, bankrupt utility giant PG&E Corp. has finally got them on its side. Now it just needs to win over California‘s governor.On late Wednesday, California power giant PG&E reached a settlement with a group of noteholders led by bond giant Pacific Investment Management Co. and activist investor Elliott Management Corp., who had repeatedly sought to derail the company's $46 billion restructuring plan. The deal turns some of PG&E's most formidable adversaries into backers of its turnaround proposal, bringing the company closer to gaining approval by a state deadline of June 30 and emerging from the biggest utility bankruptcy in U.S. history.There's just one problem: Governor Gavin Newsom, whose backing is crucial to PG&E's restructuring, is still trying to block its plan. He rejected the proposal last month, raising concerns about its financing and governance. And the company has "yet to make a single modification" to ease them since, the governor said in a court filing that hit less than two hours before PG&E announced the deal with bondholders.California's largest utility declared bankruptcy almost a year ago after its equipment was blamed for a series of catastrophic wildfires that killed more than 100 people and saddled the company with $30 billion in liabilities. It has since struck deals with almost every major stakeholder group, including the victims of the blazes it caused and their

Yahoo Business
Jan 22, 2020

Virus fears keep stocks red; ECB gets ready to rethink
World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China. Safe options like Japan's yen and government bonds rose, while European stocks followed Asia lower. "Ultimately, the coronavirus is a slow-burning but important story for markets that is likely to last for months rather than just a few days," said TD Securities' European head of currency strategy, Ned Rumpeltin.

Yahoo Business
Jan 22, 2020

4 Promising Oil Trends To Watch In 2020
It's no secret that energy stocks have struggled this year, but there are some companies that could still have great success

Yahoo Business
Jan 22, 2020

California governor aims to block PG&E's bankruptcy plan
California Gov. Gavin Newsom is urging a federal judge to reject Pacific Gas and Electric's blueprint for getting out of bankruptcy and renewing his threat to lead a bid to turn the beleaguered utility into a government-run operation. In a court filing Wednesday, Newsom's lawyers gave a sternly worded rebuke of PG&E's plan, escalating the intrigue in the year-old case that will determine the fate of the nation's largest utility. PG&E is trying to dig out of a financial hole created by more than $50 billion in claims stemming from a series of catastrophic wildfires that have been blamed on the San Francisco company.

Yahoo Business
Jan 22, 2020

Texas Instruments Points to Signs of Chip Industry Revival
(Bloomberg) -- Texas Instruments Inc. gave a quarterly sales and profit forecast that was in line with estimates, indicating that demand from electronics makers is poised to improve amid progress resolving the China-U.S. trade dispute.First-quarter earnings will be 96 cents a share to $1.14 a share, on revenue of $3.12 billion to $3.38 billion, the Dallas-based company said Wednesday in a statement. On average, analysts predicted profit of $1.04 a share and sales of $3.2 billion, according to data compiled by Bloomberg.Texas Instruments has the biggest customer list and widest product range in the semiconductor industry, making its earnings an indicator of demand across the economy. The company has told investors the electronics business is in the middle of a typical cyclical decline after companies ordered too many parts last year. Such gluts typically last five quarters. In Wednesday's report, which also included fourth-quarter results, Texas Instruments posted its fifth consecutive period of year-over-year revenue declines."Most markets showed signs of stabilizing," the company said in the statement.The company's forecast for the first quarter was held back by the outlook for the communications equipment industry, which is "going down hard," Chief Financial Officer Rafael Lizardi said during a conference call. Texas Instruments' key industrial and automotive markets are close to returning to growth, he said.Shares fell about 1% in extended trading after closing at $133.

Yahoo Business
Jan 22, 2020

Procter & Gamble, Intel earnings: What to know in markets Thursday
Earnings season is in full swing and several heavyweights are gearing up to report results Thursday including consumer staples giant Procter & Gamble and chipmaker Intel.

Yahoo Business
Jan 22, 2020

What to watch in the markets: Thursday, Jan 23
Yahoo Finance's Myles Udland discusses the new normal of lower volatility and firm, consistent buying of any market dip and what that means for bulls and bears. On Thursday Comcast, Southwest, and Procter and Gamble are among the notable companies set to report quarterly results.

Yahoo Business
Jan 22, 2020

Ford expects $2.2 billion pre-tax hit related to pension plans in fourth quarter
The charge is largely related to a drop in discount rates, the company said, as that leads to an increase in the amount of money to be contributed for future pension benefits. On an after-tax basis, the loss is expected to reduce Ford's net income by about $1.7 billion in the fourth quarter.

Yahoo Business
Jan 22, 2020

Steven Cohen's Point72 Piles Into Menlo Therapeutics
Billionaire investor's firm makes real-time trade in biotech company that focuses on pruritus treatments Continue reading...

Yahoo Business
Jan 22, 2020

Millennials should invest in bitcoin, billionaire investor says
Billionaire investor Tim Draper said bitcoin is the key for millennials who want to ensure they have enough money in retirement

Yahoo Business
Jan 22, 2020

PayPal Moves Further Into China With UnionPay Partnership
(Bloomberg) -- PayPal Holdings Inc. is taking another step into the giant Chinese payments market, partnering with state-backed China UnionPay Co. in a move that could expand PayPal's network in the country. The partnership will allow some UnionPay cardholders access to PayPal's network, and eventually, could pave the way for PayPal to be accepted at Chinese locations that take UnionPay.Users of Shanghai-based UnionPay, the world's largest card company by payment volume, will be able to add their UnionPay cards to PayPal accounts and use them in a number of countries where PayPal is accepted outside of China. "There is a lot of room for us to help people visiting from China find a way to pay while traveling," Jim Magats, senior vice president of global payments at PayPal, said in an interview.The companies also said that the tie-up would allow PayPal and UnionPay's global subsidiary, UnionPay International, to "explore opportunities" to expand PayPal's reach in China. In a statement, Magats said the new partnership would give the company the option to "expand PayPal's digital wallet to physical retail locations where UnionPay is accepted in China, or internationally."The UnionPay partnership is part of a string of moves by PayPal to grow its Chinese presence. In September, China's central bank granted PayPal approval to buy a 70% stake in a Chinese payment company Gopay Information Technology Co., allowing PayPal to become the first foreign compapny to operate in China's payment service market. Gopay has li

Yahoo Business
Jan 22, 2020

Elon Musk chases record payday after Tesla hits $100 billion
Tesla's market cap topped $100 billion for the first time ever on Wednesday, and CEO Elon Musk is just in reach of a big payday. Yahoo Finance's Jennifer Rogers and Myles Udland discuss.

Yahoo Business
Jan 22, 2020

Gold Price Prediction - Prices Consolidate Following Robust US Home Sales
Momentum has turned neutral

Yahoo Business
Jan 22, 2020

New, low-cost iPhone could arrive as soon as February: Bloomberg
Bloomberg reports that Apple could begin assembling a new, low-cost iPhone as soon as February. Yahoo Finance Tech Editor Dan Howley joins The Final Round to discuss the details.

Yahoo Business
Jan 22, 2020

TD Ameritrade Posts Strong Organic Growth Leading Up to Schwab Acquisition
The elimination of trading commissions cuts into fiscal first-quarter earnings, but increases assets under management Continue reading...

Yahoo Business
Jan 22, 2020

Kinder Morgan profit, cash flow rise on Gulf Coast Express pipeline strength
The pipeline, which can transport 2 billion cubic feet per day (bcfd), came into service in September when drillers were burning off natural gas at record rates due to lack of transportation capacity from the shale-rich Permian Basin. Earnings from natural gas transport volumes rose 14% and from NGL transport volumes jumped 23% from a year earlier.

Yahoo Business
Jan 22, 2020

Canada justice dept. lawyer says Huawei exec committed fraud
A Canadian justice department lawyer said Wednesday that fraud, not sanctions, is the crucial element for a judge to consider when deciding if a senior executive of Chinese tech giant Huawei should be extradited to the United States. This week's hearings deal with the question of whether the U.S. charges against Meng Wanzhou are crimes in Canada as well. Washington accuses Huawei of using a Hong Kong shell company to sell equipment to Iran in violation of U.S. sanctions.

Yahoo Business
Jan 22, 2020

5G will be in every metro area in the US by the end of 2020: Qualcomm president
Qualcomm President Cristiano Amon says every U.S. metro area will have 5G connectivity by the end of 2020.

Yahoo Business
Jan 22, 2020

Bitcoin Cash miners propose 12.5% share of block rewards to support ecosystem
Jiang Zhuoer, CEO of BTC.TOP, the largest mining pool on Bitcoin Cash, announced a proposal through a blog post that would redirect 12.5% of Bitcoin Cash Coinbase block rewards to a development fund. The fund is a Hong Kong corporation that has been set up to legally accept and disperse funds and would be provided […]The post Bitcoin Cash miners propose 12.5% share of block rewards to support ecosystem appeared first on The Block.

Yahoo Business
Jan 22, 2020

Salesforce's Acker: Greta Thunberg is a clear example of activated youth
Salesforce Foundation CEO Rob Acker believes youth like Greta Thunberg are being activated over climate issues. He wants to help convert their frustration into becoming a 'citizen scientist.' He joins Yahoo Finance's Alexis Christoforous on The Ticker to discuss at Davos.

Yahoo Business
Jan 22, 2020

6 Guru Stocks Trading Below Peter Lynch Value
Ternium makes the list Continue reading...

Yahoo Business
Jan 22, 2020

Momo Options Bears in Overdrive as Stock Sinks
The Chinese stock is headed toward its fourth straight loss

Yahoo Business
Jan 22, 2020

Burger King Cuts Impossible Whopper Price on Slowing Sales
(Bloomberg) -- Burger King is cutting the price of its faux-meat burger as sales start to dip following last year's introduction.Carrols Restaurant Group Inc., the biggest Burger King franchisee in the U.S., said sales tapered off to about 28 Impossible Whoppers daily per store -- down from 32 previously. The company, which has more than 1,000 Burger King locations, said sales appear to be stabilizing at that level. The sandwich was recently added to the chain's two-for-$6 discount menu on a temporary basis. That compares to the previous suggested price of $5.59 per sandwich.The slowdown is not stopping the chain from continuing to use the item as a lure for diners, however. More promotions and ads are coming for Impossible Foods Inc. items, Carrols Chief Executive Officer Daniel Accordino said at a conference."That plant-based platform will be advertised and will be expanded on the Burger King marketing calendar in 2020," he said, noting that there will be an expansion of the Impossible Whopper line this year, and that the company is testing the Impossible Whopper Jr. and Impossible Sausage.Shares of Beyond Meat Inc., a competitor of Impossible Foods, fell as much as 5.9% to a session low. ‘Exceed Expectations'Dominic Flis, a Burger King owner in Little Rock, Arkansas, said that Impossible Whopper sales have recently dipped to fewer than 20 per store a day, compared with 30 a day when it was first introduced. He may now be selling it at a loss, he said."It's definitely compressing the margin," he said.Bur

Yahoo Business
Jan 22, 2020

LinkedIn founder: Top skills employers want in new hires
LinkedIn co-founder Allen Blue names the top soft and hard skills employers are searching for in 2020.

Yahoo Business
Jan 22, 2020

3 CBD Stocks to Benefit From Passage of a CBD Bill
While the U.S. Federal government doesn't appear any closer to approving cannabis, Congress does appear set to tackle the regulations holding back widescale sales of cannabidiol or CBD. The passage of the 2018 Agriculture Improvement Act (farm bill) legalized hemp production setting the market up for a strong sales ramp, but the U.S Food and Drug Administration squashed the growth opportunity by blocking CBD used as dietary supplements.Hemp contains less than 0.3% of tetrahydrocannabinol (THC), whereas marijuana contains up to 30% of the psychoactive compound. CBD is increasingly presumed to contain properties for wellness and pain management increasing the attractiveness of hemp-infused CBD products. Unfortunately for the market, the FDA continues to question the lack of safety research on CBD products and placed into question the approval of edibles.For this reason, the large proclamations for huge CBD sales have taken a hit. National retailers haven't stocked edible products due to the potential ire of the FDA causing pure CBD companies to miss sales targets in 2019.The industry has high expectations for substantial sales with the FDA eventually allowing CBD in food and supplements. Combined research from Roth Capital Partners, Brightfield Group and Cowen predicted a CBD market of ~$17 billion with Roth predicting a market potential to achieve sales in the $40 billon range.Last week, Congress appeared to have wide support for H. R. 5587. The bill hopes to remove the FDA stance that CBD needs testing before approval in dietary produ

Yahoo Business
Jan 22, 2020

Investors Who Bought YRC Worldwide (NASDAQ:YRCW) Shares Five Years Ago Are Now Down 83%
YRC Worldwide Inc. (NASDAQ:YRCW) shareholders should be happy to see the share price up 14% in the last month. But...

Yahoo Business
Jan 22, 2020

Apple to start making cheaper iPhone: BBG
Apple will reportedly begin offering a low-cost iPhone in February, according to Bloomberg. The phone will look similar to the iPhone 8 released in 2017 that includes the touch ID. Yahoo Finance's On The Move panel discusses.

Yahoo Business
Jan 22, 2020

Boeing CEO expects to resume 737 MAX production before mid-year
WASHINGTON/CHICAGO (Reuters) - Boeing Chief Executive Dave Calhoun told reporters on Wednesday the U.S. planemaker expects to resume 737 MAX production months before its forecasted mid-year return to service and said it did not plan to suspend or cut its dividend. The company announced a production halt in December, when the global grounding of the fast-selling 737 MAX following two deadly crashes in five months looked set to last into mid-2020 -- a timeline pushed back after Boeing endorsed new simulator training for pilots. "I am all in on it and the company is all in on it," Calhoun said, adding Boeing will not launch a marketing campaign to get customers to get back on 737 MAX planes.

Yahoo Business
Jan 22, 2020

Boeing CEO says he expects to resume 737 MAX production before mid-year
WASHINGTON/CHICAGO (Reuters) - Boeing Chief Executive Dave Calhoun told reporters on Wednesday the U.S. planemaker expects to resume 737 MAX production months before its forecasted mid-year return to service and said it did not plan to suspend or cut its dividend. The company announced a production halt in December, when the global grounding of the fast-selling 737 MAX following two deadly crashes in five months looked set to last into mid-2020.

Yahoo Business
Jan 22, 2020

Is Xilinx, Inc. (NASDAQ:XLNX) A High Quality Stock To Own?
One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will...

Yahoo Business
Jan 22, 2020

Avolon CEO sees new Boeing MAX timeline as 'worst case scenario'
Boeing said on Tuesday it does not expect to win approval for the return of the 737 MAX to service until mid-year due to further potential developments in the certification process and regulatory scrutiny on its flight control system. "The best news I've heard on the MAX grounding was yesterday, when Boeing said June-July," Avolon chief executive Domhnal Slattery told a conference in Dublin, adding he hoped it marked the beginning of the end of the MAX crisis.

Yahoo Business
Jan 22, 2020

Johnson & Johnson's Earnings Surpass Expectations, but Revenue Falls Short
Company saw a considerable decline in legal expenses during the quarter as compared to the year-ago period Continue reading...

Yahoo Business
Jan 22, 2020

No alternative to grounded Boeing 737 MAX, Aercap CEO says
There is no alternative to the grounded 737 MAX and it would be "absolutely stupid" for Boeing to launch a replacement before the next wave of technology a decade from now, the head of one of the world's top aircraft lessors said on Wednesday. Aengus Kelly, chief executive of Aercap , which has committed to a fleet of 100 MAX jets, told Reuters in an interview he had spoken to all of the biggest MAX operators in the world and said they still viewed it as a very good plane. Kelly was speaking after Boeing on Tuesday warned of further delays in returning its grounded 737 MAX airliner to service, with the plane not likely to be cleared by U.S. regulators until the middle of the year.

Yahoo Business
Jan 22, 2020

Warren Buffett: Focus on a Company's Future Earnings Potential
Advice from Buffett on paying a high price for stocks Continue reading...

Yahoo Business
Jan 22, 2020

Ted Baker warns stock issues are twice as bad as expected
Fashion company Ted Baker warns that an issue with overvalued stock is more than twice as bad as they initially expected. Burberry is also sinking today, despite raising its outlook. Yahoo Finance's Edmund Heaphy joins the On The Move panel from London to discuss.

Yahoo Business
Jan 22, 2020

News On The Move: Senate passes rules for impeachment trial, Lori Loughlin's daughters may testify, U.S. drinking water contamination increases
The U.S. Senate passed rules for President Trump's impeachment trial, Us Weekly Magazine reports Lori Loughlin's daughters may testify, U.S. drinking water contamination is worse than people thought, according to the Environmental Working Group, and Derek Jeter gets elected into the Baseball Hall of Fame. Yahoo Finance's Adam Shapiro discusses.

Yahoo Business
Jan 22, 2020

Tesla Surges Past $100 Billion Market Value, Eclipsing VW
(Bloomberg) -- Tesla Inc.'s market value has climbed above Volkswagen AG's for the first time to more than $100 billion, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.The electric-car maker's shares soared as much as 8.6% on Wednesday to a new intraday high of $594.50. At that price, Tesla's market capitalization was roughly $107.2 billion, exceeding Volkswagen's $99.4 billion and trailing only Toyota Motor Corp.While Musk's skeptics are dubious that Tesla should be worth more than a carmaker that sold almost 30 times as many vehicles last year, Volkswagen's own Herbert Diess isn't so dismissive. He's been arguably the most vocal CEO among traditional carmakers to praise Tesla and point to its role in a radical shakeup of the more than century-old auto industry.After saying three months ago that Tesla was no niche manufacturer anymore, Diess told top Volkswagen executives at an internal meeting in Germany last week that connected vehicles will almost double the time consumers spend online, and that cars will "become the most important mobile device.""If we see that, then we also understand why Tesla is so valuable from the view of analysts," he said.Diess, 61, is rolling out the industry's largest electric-car fleet and aims to boost the company's value to a level rivaling Toyota, whose $232 billion market cap is still more than Tesla and VW's combined."Tesla has high innovative strength regarding battery-electric vehicles as well as connectivity, which can partly exp

Yahoo Business
Jan 22, 2020

United says does not expect to fly the 737 MAX this summer
United Airlines Holdings Inc does not expect to fly the Boeing 737 MAX this summer, President Scott Kirby said on Wednesday, following news from Boeing Co that it does not expect to win approval for the MAX to fly again until mid-year. United and other U.S. airlines that operate the 737 MAX had been scheduling flights on the aircraft in June, based on assumptions that the aircraft could receive regulatory approval in the first quarter.

Yahoo Business
Jan 22, 2020

Earnings Preview: 3 "Strong Buy" Stocks to Watch This Evening
Earnings season is all about the numbers; sales, beats, losses, and forecasts -- the figures all adding up to determine the near-term future direction of the stocks at play.The earnings season is a veritable festival of numbers; dozens of companies each day filing the previous three months' performance figures and hoping the market reacts kindly to the presented data. Of course, on the Street, analysts are watching carefully, ready to vote with a Buy or Sell following positive or negative developments delivered during the earnings call.With this in mind, we used TipRanks' Earnings Calendar to get the lowdown on 3 Strong Buy tickers reporting quarterly results today after market close. We lined up the three alongside each other to get an idea of what the Street thinks is in store for the trio ahead of the print.PTC Inc (PTC)Industrial software maker PTC endured a difficult 2019. In contrast to the broader market's upbeat performance, PTC's share price shed almost 10% last year. The company encountered several headwinds which were reflected in disappointing quarterly reports; lower L&S (license and subscription) bookings and a bumpy transition to a subscription model among the factors driving the negative sentiment.After 2019's woes, Evercore's Kenneth Talanian reminds investors that "underlying the noisy quarterly results was ARR growth at 12% y/y."PTC is at the forefront of the Internet of things (IoT) revolution. Its software offerings providing companies with the ability to connect physical devices with th

Yahoo Business
Jan 22, 2020

Nokia CEO Suri Sees 5G Market Maturity in 2021
Jan.22 -- Nokia Chief Executive Officer Rajeev Suri discusses the impact of the rollout of 5G wireless technology on the company and the telecom industry. He speaks with Bloomberg's Haslinda Amin at the World Economic Forum's annual meeting in Davos, Switzerland on "Bloomberg Markets."

Yahoo Business
Jan 22, 2020

Gold Price Forecast - Gold Markets Continue To Grind
Gold markets continue to go back and forth in general, as the market finds the $1550 level is an area of stability. This leads me to believe that we are probably going higher over the longer term, but things are awfully quiet right now.

Yahoo Business
Jan 22, 2020

Italy's Richest Family Gets $714 Million From Nutella Maker
(Bloomberg) -- Life is looking sweet for the Ferrero family.The Italian dynasty behind Nutella is poised to get a 642 million euro ($714 million) dividend from their main holding company, regulatory filings show. The firm reported profit of 928.6 million euros for the fiscal year ended in August, up more than a quarter from the previous 12 months.Payouts of this magnitude have helped make the Ferreros the world's 25th richest family, according to the Bloomberg Billionaires Index. The wealth of multibillionaire families such as the Waltons, Kochs and Wertheimers has soared over the past decade. During that period, the Ferreros have approved dividends totaling more than 2 billion euros.Profits at the the Ferrero family's operating company have almost doubled since 2008. The firm has embarked on a spending spree to boost its U.S. presence and broaden its product range. Ferrero acquired Nestle SA's U.S. candy business for $2.8 billion in 2018 and completed a $1.3 billion deal last year for Kellogg Co.'s cookies and fruit snack brands, including Keebler and Famous Amos.The Ferreros manage their money through Monaco-based family office Fedesa, which invests in equities, credit, private equity, venture capital and hedge funds, according to employees' LinkedIn profiles. Fedesa also has a Singapore branch. In addition, the family has an investment firm in Luxembourg, Teseo Capital, which deals in alternative assets and agribusiness.The Ferrero fortune can be traced to a family pastry shop in northern Italy that used

Yahoo Business
Jan 22, 2020

Investors extend largest pullback from U.S. stock funds since 2016
The retreat from the U.S. stock market came despite a rally that has pushed the S&P 500 to record highs on the strength of corporate earnings and widespread expectations the Federal Reserve will not raise interest rates this year. The S&P 500 is up 3% for the year to date, more than double the performance of any comparable developed market in Europe or Asia, according to Refinitiv data. Investors continued to flood into taxable and municipal debt, sending nearly $17 billion into bond funds last week.

Yahoo Business
Jan 22, 2020

India's Painful Double Whammy Grips More Emerging Markets
(Bloomberg) -- India may be experiencing the most glaring setback among emerging economies, but its double pain of slowing growth and surging inflation is spreading far and wide.While a debate rages over whether the latest data from India points to "stagflation," a sixth successive quarter of economic deceleration and fifth consecutive jump in price growth are threatening "buy India," one of the most popular emerging-market trades of the last decade.How World's Fastest-Growing Economy Plunged Into StagflationThey're also emblematic of how developing nations, as a whole, may be losing steam.An analysis of 30 major emerging economies, based on public data and Bloomberg surveys, shows half of them slowing or stagnating in 2020. Two-thirds are set to experience a simultaneous acceleration in inflation. That's a potent source of mini-economic crises across the group.Inflation Rises Fastest in 9 Years in Emerging Economies: ChartHere are the details:Six other economies are on course for a fate similar to India, and that includes China.Four Eastern European economies will probably manage to control inflation, but pay for it in terms of slower growth.Inflation Trends Split EU Along Historic East-West DivideFour nations are expected to maintain their gross-domestic-product expansion, but inflation will erode purchasing power in their economies.Seven other countries may see growth accelerate, but also higher rates of inflation. Two of these, the United Arab Emirates and Saudi Arabia, may welcome that given they've been

Yahoo Business
Jan 22, 2020

It's 'despairing' what's happening in Washington, D.C.: Former U.S. Rep.
Jane Harman, Former U.S. Representative and Wilson Center CEO joins Yahoo Finance's Editor-in-Chief Andy Serwer and Alexis Christoforous at the World Economic Forum in Davos, Switzerland. Harman shares more about the Wilson Center and weighs in on Trump Impeachment trial.

Yahoo Business
Jan 22, 2020

Does Alkaline Water (NASDAQ:WTER) Have A Healthy Balance Sheet?
David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Yahoo Business
Jan 22, 2020

U.S. OKs Kinder Morgan request to start Texas Lockridge natgas pipe work
The Lockridge project is one of several under development or construction designed to remove gas from the Permian basin in West Texas and eastern New Mexico where pipeline capacity has not kept up with the amount of gas associated with record oil production in the region. Henry Hub's premium over Waha averaged $1.42 per million British thermal units so far in 2020. Henry Hub's premium over Waha has been declining since Kinder Morgan's 2.0-bcfd Gulf Coast Express pipe entered service in September, allowing more low-cost Permian gas to flow to higher-cost markets along the U.S. Gulf Coast and Mexico.

Yahoo Business
Jan 22, 2020

Buy AT&T for the Free Cash Flow and Possible Multiple Expansion
AT&T; outperformed the S&P; 500 in 2019 and offers a 5% dividend yield; shares of the company remain undervalued Continue reading...

Yahoo Business
Jan 22, 2020

Freeport Looks Poised to Turn Corner After Five-Year Bumpy Road
(Bloomberg) -- It's been a rough haul for Freeport-McMoRan Inc., but the future may be looking up.In the past five years, the world's largest publicly traded copper miner was forced to sell assets and shares to manage debt as it weathered fall-out from the collapse of the commodity super cycle. It emerged from multiyear talks over its Indonesian mine to secure long-term rights, and hung on as production at the flagship operation tumbled during the switch from open pit to underground mining.And in the past year, it has been buffeted by global trade winds and hit by crossfire from demonstrations against a competitor in Peru.When the Phoenix-based company releases fourth-quarter results on Thursday, the market will be more than ready for some good news.Morgan Stanley's "bull case" for the stock predicts a 40% rally to $18 a share. While the ramp-up of underground mining at Grasberg, Freeport's massive Indonesian copper-and-gold asset, remains challenging, the bank believes the miner "is well positioned to deliver on execution," analyst Carlos De Alba said in a note this week.The trend to global electrification, fed by the need to provide lower-carbon power for transport and industry, is expected to increase demand for copper, potentially resulting in supply deficits. For those companies poised for production increases, the result will be long-term growth in free cash flow, even if other factors keep prices for the metal subdued, according to Jefferies LLC.Freeport expects to double cash flow, boost co

Yahoo Business
Jan 22, 2020

AUD/USD Price Forecast - Australian Dollar Rebounds
The Australian dollar fell to test the previous downtrend line but bounced significantly from there to show signs of resiliency. The hammer that is trying to form is a good sign, and quite frankly it looks as if the Aussie is trying to save itself.

Yahoo Business
Jan 22, 2020

JPMorgan: 3 High-Yield Dividend Stocks to Snap Up Now
Growth and dividends are the sure-fire ways to find profit in your investments. The hard part is finding stocks that combine the two. It's not that they are necessarily incompatible - rather, it is just that the highest growth stocks tend to achieve their appreciation by plowing profits directly back into the company. Dividend payments dilute this, by paying some or all of the profits back to investors. Still, there are investment sectors where growth and dividends walk hand-in-hand.The natural place to look is in sectors with high cash flows and essential products. Energy comes to mind. Without energy, our modern digital economy will grind to a quick halt. Energy companies - whether they extract oil from the ground or generate electricity for commercial use - earn a profit buy fueling modern life. Investors can piggyback on that, drawing profits from the sector's cash flow.Investment bank JPMorgan released a special report on the North American energy industry, emphasizing just these attributes - the rising production, the high cash flow, and the fundamental strength of the industry to survive a prolonged period of low prices. On US natural gas production, JPM "sees ~3% US onshore growth in 2020, driven largely by [Permian basin] production," while noting that, for crude oil, "[Texas'] Midland remains the most economic shale play in the US as breakevens have drifted lower over the last year, largely due to increased oil pipeline capacity."JPM's final point, on increased pipeline capacity, brings us to the midstream sector, a

Yahoo Business
Jan 22, 2020

Bloomberg's billionaire campaign is working
Bloomberg's money is buying success in the Democratic presidential campaign. And maybe that's okay.

Yahoo Business
Jan 22, 2020

How 737 Max Delays Are Impacting General Electric
Boeing Co (NYSE: BA) shares are down 4% this week on reports the company has been telling customers its 737 Max likely won't be cleared to fly until June or July, months later than it had previously expected. Obin said 737 Max suppliers are missing out on revenues while the grounding drags on. The good news for Boeing suppliers is that most of them have diversified businesses, with exposure to defense or other industrial customers.

Yahoo Business
Jan 22, 2020

The stock market is on steroids and it could end up like the dot com bubble: top money manager
Skybridge Capital co-CIO Troy Gayeski weighs in on the markets from inside the World Economic Forum.

Yahoo Business
Jan 22, 2020

These 10 Rules Made Warren Buffett a Billionaire
Here are the basics on how Buffett achieved success — and you can, too.

Yahoo Business
Jan 22, 2020

U.S. home sales surge to near two-year high; supply at record low
U.S. home sales jumped to their highest level in nearly two years in December, the latest indication that lower mortgage rates are helping the housing market to regain its footing after hitting a soft patch in 2018, though record low inventory could be an obstacle to continued strong gains. The report from the National Association of Realtors on Wednesday followed on the heels of government data last week showing homebuilding raced to a 13-year high in December. Renewed housing market momentum could soften some of the hit on the economy from manufacturing as the thaw in U.S.-China trade tensions is offset by Boeing's suspension this month of production of its troubled 737 MAX plane.

Yahoo Business
Jan 22, 2020

When it comes to hiring, millennials are killing it
Hiring managers focus most on millennials, followed by Gen Z, with baby boomers trailing. They're most intent on retaining Gen X.

Yahoo Business
Jan 22, 2020

How to Have a ‘No Regrets' Retirement
Most retirees regret not saving more. A 2018 study by Transamerica Center for Retirement Studies found 73% wish they'd put aside more money on a consistent basis, and half felt…

Yahoo Business
Jan 22, 2020

What They Don't Tell You about Silver's Declines
Even though the beginning of yesterday's session was rather uneventful, its remaining hours proved much more informative and meaningful. In fact, based on how the developments unfolded, we decided to go long silver.

Yahoo Business
Jan 22, 2020

Is your Bed Bath & Beyond store closing? See the full list of the 40 stores shuttering in 2020
Forty Bed Bath & Beyond stores are closing or have already closed, company officials confirmed. Here are the locations that will shutter.

Yahoo Business
Jan 22, 2020

Roku Slips, but Analyst Sees Gains Ahead Amid International Push
Investing.com - Roku struggled to turn positive Wednesday, but one analyst sees further gains ahead as the company shows signs of progress in expanding internationally.

Yahoo Business
Jan 22, 2020

Cisco CEO on impact of U.S.-China trade deal
Yahoo Finance's Alexis Christoforous and Andy Serwer speak with Cisco CEO Chuck Robbins live at the World Economic Forum in Davos, Switzerland.

Yahoo Business
Jan 22, 2020

Sea Limited Sees Big Gains as Stock Jumps 8%
By Kim Khan

Yahoo Business
Jan 22, 2020

Factbox: Boeing's changing schedule for 737 MAX fix, return to service
The Chicago-based planemaker has been updating the 737 MAX flight control system and software to address issues believed to have played a role in two crashes in Indonesia and Ethiopia that killed 346 people within five months.

Yahoo Business
Jan 22, 2020

With A Return On Equity Of 20%, Has Regeneron Pharmaceuticals, Inc.'s (NASDAQ:REGN) Management Done Well?
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...

Yahoo Business
Jan 22, 2020

How blockchain could transform the world of finance
North Island Chairman Glenn Hutchins speaks to Yahoo Finance Editor-in-Chief Andy Serwer and Alexis Christoforous from the World Economic Forum in Davos, Switzerland.

Yahoo Business
Jan 22, 2020

3 Healthcare Stocks With Important Catalysts in Q1
Blink, and you might just miss it. We are referring to the colossal gains that can be achieved by a select group of stocks in almost no time at all, namely those inhabiting the healthcare sector. But how is it that these types of investments can reach such heights overnight? The answer, as it turns out, is related to the nature of the industry itself.Unlike other names, these companies count on only a few vital indicators like the release of data or FDA rulings. As a result, a single update can act as a catalyst, with the power to rapidly catapult shares in either direction. This volatility and the risk that come with it can be enough to ward off some investors. For others, these stocks represent some of the most captivating growth plays the Street has to offer.Based on this, seasoned Street veterans argue that the right time to snap up shares of a healthcare name might just be ahead of key catalysts. However, once a potential portfolio addition has been identified, it isn't always easy to determine if it's the most compelling investment. That's where TipRanks comes in.Taking advantage of TipRanks' Stock Screener tool, we were able to find out what Wall Street analysts are saying about 3 healthcare stocks as they approach important catalysts in the first quarter. Not only is the analyst community bullish, with each earning a Strong Buy consensus rating, but the stocks also boast substantial upside potential from current levels. Let's jump right in.Karyopharm Therapeutics (KPTI)Karyopharm Therapeutics' primary goal is to dev

Yahoo Business
Jan 22, 2020

Tesla Surges Past $100 Billion Market Value, Usurping VW
(Bloomberg) -- Tesla Inc.'s market value has climbed above Volkswagen AG's for the first time to more than $100 billion, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.The electric-car maker's shares jumped as much as 4.6% shortly after the open of regular trading Wednesday. At the early intraday high of $572.11, Tesla's market capitalization was roughly $103.1 billion, exceeding Volkswagen's $99.8 billion and trailing only Toyota Motor Corp.While Musk's skeptics view as absurd Tesla being worth more than a carmaker that sold almost 30 times as many vehicles last year, Volkswagen's Herbert Diess isn't one of those cynics. He's been arguably the most vocal CEO running a traditional carmaker to acknowledge that Tesla's expansion heralds a radical shakeup of the more than century-old auto industry.After saying three months ago that Tesla was no niche manufacturer anymore, he told top Volkswagen executives at an internal meeting in Germany last week that connected vehicles will almost double the time consumers spend online, and that cars will "become the most important mobile device.""If we see that, then we also understand why Tesla is so valuable from the view of analysts," Diess, 61, said.The jump above $100 billion is about more than just bragging rights for Musk, Tesla's billionaire chief executive officer. He's eligible to receive the first tranche of an all-or-nothing pay award if the company's market value stays above that threshold for a sustained period. On paper,

Yahoo Business
Jan 22, 2020

Should You Worry About MannKind Corporation's (NASDAQ:MNKD) CEO Pay?
In 2017 Michael Castagna was appointed CEO of MannKind Corporation (NASDAQ:MNKD). This analysis aims first to contrast...

Yahoo Business
Jan 22, 2020

Nio Will Build 200 Brick-And-Mortar Stores This Year, Report Says
Nio Inc - ADR (NYSE: NIO ) shares scaled the threshold Tuesday , extending their winning streak to nine straight sessions and are poised to open higher yet again. Reflecting the electric vehicle maker's ...

Yahoo Business
Jan 22, 2020

Costco CEO Talks Special Dividend, Membership Fees In CNBC Interview
Costco offers consumers "great prices" because of its unique business model, Jelinek said. On top of that, Costco charges consumers an upfront annual fee that starts at $60. Costco is "only as good as the employees that work with you" and the company has high expectations when it comes to staffing its stores, Jelinek said.

Yahoo Business
Jan 22, 2020

‘Regulation will see Bitcoin go mainstream in the UK' - Coinfloor CEO
Tighter EU laws governing cryptocurrency will lead to wider Bitcoin adoption, claims the CEO of established UK crypto exchange Coinfloor. This month, the European Union implemented a new law - known as the EU Fifth Anti-Money Laundering Directive (5AMLD) - which requires cryptocurrency platforms and wallet providers to identify their customers for anti-money laundering purposes. The UK has decided to implement the law despite its decision to leave the EU. Coinfloor CEO Obi Nwosu says tighter EU and UK Financial Conduct Authority (FCA) regulations will increase confidence among consumers. He told Coin Rivet: "Clearer regulation is a going to be a good thing for the UK and EU. It will bring more certainty for users, service providers like us, andThe post ‘Regulation will see Bitcoin go mainstream in the UK' - Coinfloor CEO appeared first on Coin Rivet.

Yahoo Business
Jan 22, 2020

Intel and Softbank Beware. Open Source Is Coming to the Chip Business
(Bloomberg) -- After revolutionizing software, the open-source movement is threatening to do same to the chip industry.Big technology companies have begun dabbling with RISC-V, which replaces proprietary know-how in a key part of the chip design process with a free standard that anyone can use. While it's early days, this could create a new crop of processors that compete with Intel Corp. products and whittle away at the licensing business of Arm Holdings Plc.In December, about 2,000 people packed into a Silicon Valley conference to learn about RISC-V, a new set of instructions that control how software communicates with semiconductors. In just a few years, RISC-V has grown from a college teaching tool into an open-source standard being explored by industry giants including Google, Samsung Electronics Co., Alibaba Group Holding Ltd., Qualcomm Inc. and Nvidia Corp."Most of the major companies are putting substantial efforts into RISC-V," said Krste Asanovic, a computer scientist at the University of California, Berkeley, who was part of the team that developed the standard. He's co-founder of SiFive Inc., a startup that sells chip designs based on RISC-V (pronounced "risk five").Open source harnesses the contributions of multitudes, not just the proprietary ideas of a few companies. New code is shared, so anyone can see it, improve it and build their own contributions on top of it. After being dismissed by giants like Microsoft Corp. in the 1990s, this expanding body of work has become the foundation of the internet, smartphones and many software applications. Last year, IBM bought open-source pioneer Red Hat in the biggest software deal in history. Even Micros

Yahoo Business
Jan 22, 2020

Virgin Galactic Soars as Investor Interest Rivals Tesla
(Bloomberg) -- Richard Branson's Virgin Galactic Holdings Inc. is scoring its best monthly performance since going public more than two years ago as investor appetite for the space-tourism company heats up.Morgan Stanley analyst Adam Jonas wrote in a Wednesday note that the bank is having more conversations about Virgin Galactic than "any other U.S. stock in our coverage with the possible exception of Tesla." Shares of the Las Cruces, New Mexico-based company rose more than 8% in trading before the market open, on track to add to an eighth consecutive record close.The stock has boomed 52% in the past nine days after struggling to win over investors following a move to the New York Stock Exchange in late October. This year's 50% advance is even beating Elon Musk's Tesla Inc., which has jumped more than 30% to its own record. Tesla shares have more than tripled from a June bottom as Wall Street piles on praise for the company.Morgan Stanley's Jonas says Virgin Galactic's recent strength is due to steps toward the first commercial flight later this year and management engagement, which have combined to pique investor interest. With shares heading toward his $22 price target, Jonas highlighted that the bank's bull case of $60 still holds more than 250% upside potential.All three analysts that cover Virgin Galactic have a buy or equivalent rating, according to Bloomberg data. Jonas holds the Street's highest 12-month price target, with the average sitting at $19, compared to Wednesday's pre-market high of $18.78.

Yahoo Business
Jan 22, 2020

Airbus hits record highs, 737 MAX buyers fall on latest Boeing news
PARIS/LONDON (Reuters) - Airbus' shares hit record highs on Wednesday, after U.S. arch rival Boeing warned of further delay in returning its grounded 737 MAX airliner to service, while Boeing customers and suppliers fell on the news. Boeing said on Tuesday that it did not expect to win approval for the 737 MAX to return to service until mid-year. Airbus was up by 1.85% at 138.9 euros at 1215 GMT, the top performer on France's benchmark CAC-40 index after hitting a record high 139.32.

Yahoo Business
Jan 22, 2020

Tesla Surges Past $100 Billion Market Value, Usurping Volkswagen
(Bloomberg) -- Tesla Inc.'s market value has climbed above Volkswagen AG's for the first time to more than $100 billion, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.The electric-car maker's shares soared as much as 5.9% in early trading Wednesday, extending a 31% surge already this year. At the pre-market high of $579.51, Tesla's market capitalization was roughly $104.5 billion, exceeding Volkswagen's $100 billion.Musk, Tesla's billionaire chief executive officer, is eligible to receive the first tranche of an all-or-nothing pay award if the company's market value stays above $100 billion for a sustained period. On paper, the first chunk of the award would net him about $346 million.Tesla shares have more than doubled since the company reported a surprise third-quarter profit and told investors it was ahead of schedule opening its factory in China and bringing out its next product, the Model Y crossover. Musk, 48, has built a commanding lead selling electric vehicles over established automakers.Volkswagen is the world's largest car manufacturer, selling 10.97 million vehicles last year. Tesla delivered about 367,500.Wall Street's most bullish analyst on Tesla was behind Tuesday's rally. New Street Research analyst Pierre Ferragu predicted the company will sell 2 million to 3 million cars per year after 2025 at industry-leading margins. He raised his price target by $270 to $800, the highest among analysts surveyed by Bloomberg.\--With assistance from T

Yahoo Business
Jan 22, 2020

Sonos customers up in arms over move to stop updates for older speakers
Hours after the company made the announcement https://blog.sonos.com/en/end-of-software-updates-for-legacy-products on Tuesday, customers went on Twitter using the trending hashtag #SonosBoycott and tagging the company's chief executive officer, Patrick Spence, with their questions. Customers received an email from Sonos saying the company would no longer support some models launched between 2006 and 2009 after May. Sonos gave customers the option to either continue using the products without any new updates and features in the future or buy a new Sonos product with a 30% credit for each product replaced.

Yahoo Business
Jan 22, 2020

Bridgewater Co-CIO Bob Prince Says Boom-Bust Cycle Is Over
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Bob Prince, who helps oversee the world's biggest hedge fund at Bridgewater Associates, says the boom-bust economic cycle is over.The tightening of central banks all around the world "wasn't intended to cause the downturn, wasn't intended to cause what it did," Prince, the co-chief investment officer of Bridgewater, said in an interview with Bloomberg TV at the Swiss resort of Davos. "But I think lessons were learned from that and I think it was really a marker that we've probably seen the end of the boom-bust cycle."The boom-bust cycle refers to economic expansion and contraction that repeats itself. However, central bank intervention since the financial crisis and monetary easing has disrupted that cycle and has helped fuel the longest-running bull market in stocks. That has led the hedge fund industry to struggle to match gains of passive funds tracking indexes.The Westport, Connecticut-based investment firm suffered its first annual loss since 2000 in its most prominent fund--Bridgewater Associates Pure Alpha II--last year. The fund lost 0.5%, only the fourth annual decline since starting in 1991. Many of its peers, by comparison, posted some of their best returns since 2008.Prince, who oversees Bridgewater's $160 billion in assets with Ray Dalio and Greg Jensen, said that performance this year has been so far good for the firm. He was among at least 119 billionaires converging on Switzerland this week to join bankers, politicians and other grandees for their annual pilgrimage to the Alps for the World Economic Forum.Earlier this week, Dalio urged investors not to miss o

Yahoo Business
Jan 22, 2020

Italy's Richest Family to Get $714 Million From Nutella Maker
(Bloomberg) -- Life is looking sweet for the Ferrero family.The Italian dynasty behind Nutella is poised to get a 642 million euro ($714 million) dividend from their main holding company, regulatory filings show. The firm reported profit of 928.6 million euros for the fiscal year ended in August, up more than a quarter from the previous 12 months.Payouts of this magnitude have helped make the Ferreros the world's 25th richest family, according to the Bloomberg Billionaires Index. The wealth of multibillionaire families such as the Waltons, Kochs and Wertheimers has soared over the past decade. During that period, the Ferreros have approved dividends totaling more than 2 billion euros.Profits at the the Ferrero family's operating company have almost doubled since 2008. The firm has embarked on a spending spree to boost its U.S. presence and broaden its product range. In 2018, Ferrero acquired Nestle SA's U.S. candy business for $2.8 billion and completed a $1.3 billion deal last year for Kellogg Co.'s cookies and fruit snack brands, including Keebler and Famous Amos.The Ferreros manage their money through Monaco-based family office Fedesa, which invests in stocks, credit, private equity, venture capital and hedge funds, according to employees' LinkedIn profiles. It also has a Singapore branch.The Ferrero fortune can be traced to a family pastry shop in northern Italy that used hazelnuts as a way to stretch limited cocoa supplies. It grew into a confectionery firm, opening production facilities and office

Yahoo Business
Jan 22, 2020

For Oil, There's a Green Swan Lurking in This Plastic Bag
(Bloomberg Opinion) -- Back in 1999, one of the most talked-about scenes in one of the most talked-about movies involved a dancing plastic bag. It was surely a more innocent time. Still, two decades on from American Beauty and its bag-shaped pretensions, this is an opportune moment to reiterate that it's just trash. China has unveiled plans to curb the use of non-degradable plastic bags in supermarkets and malls across major cities as well as food-delivery services. The problem with plastic isn't plastic, much of which is useful and likely irreplaceable. Rather, it's that we produce a lot of low-value but long-lasting plastic — especially packaging — that overwhelms our waste-management capabilities (or inclinations, for that matter) and winds up polluting the planet. Plastic bags blowing about in a fall breeze aren't, as the movie contends, a metaphor for the hidden wonders of suburbia; they're an expression of failure.As my colleague David Fickling writes, growing demand for petrochemicals is an article of faith in the oil and gas business, and one that gets a lot more airing these days to offset the disquieting narrative of electric vehicles stalling out gasoline consumption. In its most recent Energy Outlook, BP Plc identified "non-combusted" demand for oil as the single-biggest source of projected growth through 2040, with single-use plastics accounting for almost 40% of that 5.5 million barrels a day.Under an alternative future in which governments phase out single-use plastics aggressively and ban them alt

Yahoo Business
Jan 22, 2020

Meat Giant Tyson Musters Industry in Sustainable-Protein Drive
(Bloomberg) -- Tyson Foods Inc. is taking on the backlash facing the global meat industry and big agriculture with a move to advance the world of sustainable protein.Tyson, the biggest U.S. meat company, will pull together industry leaders, academia, NGOs and financial firms this week at the World Economic Forum annual meeting in Davos, Switzerland, as it launches a coalition designed to find sustainable solutions to producing protein. It's the latest move by a meat giant to help scrub the industry's image as a greenhouse-gas-emitting machine.From high-profile moves like the Golden Globes going vegan, to the hype surrounding alternative proteins such as Beyond Meat Inc.'s burger, the zeitgeist in some markets is moving toward less meat consumption even as global demand continues to grow. But traditional animal-meat producers are now looking to take the initiative in sustainability after largely being the punching bags of those sounding alarm bells over the industry's environmental impact.By some measures, agriculture accounts for more global greenhouse gas emissions than transport, thanks in part to livestock production. To clean up its act, giants like Tyson and Cargill Inc. are promising ambitious reductions in emissions, including in supply chains. Chief sustainability officers are popping up all over meat C-suites, and social media ads are touting beef's misunderstood health benefits.Notably, Tyson said it would include leaders from companies of "all forms of protein" for its coalition, meaning that

Yahoo Business
Jan 22, 2020

AT&T Finds a New Way to Help Grind Down Its Debt Mountain
(Bloomberg) -- AT&T Inc.'s obsession with paying down debt has led to some financial creativity.Right before the end of 2019, AT&T took a collection of cell-tower rent payments that it will receive in the future, rolled them into a subsidiary, then sold shares of the unit to investors for $6 billion.The new entity is called AT&T Investment & Tower Holdings LLC, and the preferred shares pay as much as 5% annually, according to a filing last month. The proceeds will go toward general purposes and paying down debt, AT&T said.The move is the largest in an ongoing effort by AT&T to turn assorted assets into cash that it can use to whittle away at its borrowings. AT&T has set a goal to lower its leverage ratio to between 2 and 2.25, a target it promised shareholders, including activist investor Elliott Management Corp.In this case, with the tower receivables, AT&T raised $6 billion up front, which requires an interest payment of 4.75% to 5%. While that's a higher interest rate than nearly any loan AT&T could have received, the one significant advantage is that the $6 billion doesn't add to its $165 billion debt pile."This is a bit of a surprise for a high-grade-debt company like AT&T," said Dave Novosel, an analyst with Gimme Credit.AT&T representatives declined to comment on the tower-receivables entity, citing a quiet period ahead of its earnings report later this month.$200 BillionAT&T's mountain of debt reached $200 billion after its 2018 purchase of Time Warner. The d

Yahoo Business
Jan 22, 2020

AT&T's ‘Unique Scale' Bumps Stock Up
By Kim Khan

Yahoo Business
Jan 22, 2020

Should You Be Concerned About Daré Bioscience, Inc.'s (NASDAQ:DARE) Historical Volatility?
Anyone researching Daré Bioscience, Inc. (NASDAQ:DARE) might want to consider the historical volatility of the share...

Yahoo Business
Jan 22, 2020

J&J forecasts weak annual profit, misses revenue estimates
Shares of the healthcare giant, which were trading at a record high prior to the results, fell about 1.5% to $147 in premarket trading. J&J's pharmaceuticals unit, which makes up half of the overall sales and produces blockbuster drugs such as Imbruvica and Stelara, has powered much of the company's recent growth even as it works to improve the performance of its medical device and consumer health units. Sales of psoriasis drug Stelara rose 17.7% to $1.70 billion, missing Credit Suisse's estimate of $1.79 billion.

Yahoo Business
Jan 22, 2020

Here's What Analysts Are Saying About Netflix's Latest Earnings
(Bloomberg) -- Netflix Inc. shares edged higher in U.S. pre-market trading, though remain far below 2018 and 2019 highs, after a mixed earnings report that showed overseas growth helping to offset a slowdown at home amid increasing competition from Walt Disney Co. and Apple Inc.Analysts were generally positive about the results and, while first-quarter guidance missed estimates, Piper Sandler analyst Michael Olson said that the forecast may be conservative. Netflix added 8.3 million subscribers internationally in the fourth quarter to surpass 100 million paid memberships outside of the U.S. for the first time.Stifel analyst Scott W. Devitt noted that Disney appeared to have a less meaningful impact in available international markets than in the U.S. Still, the analyst cautioned of the potential impact from the broader rollout of Disney in EMEA toward the end of the first quarter.The stock gained 1.2% to $342 a share at 6.13 a.m. in New York.Here's a summary of what some other analysts had to say.Morgan Stanley, Ben SwinburneOverweight, price target $400Update reinforces bullish long-term view and, going forward, analyst expects 90% of global paid net additions to come from outside the U.S., amid continued elevated domestic churn.Notes that local originals were the most popular titles in 2019 in countries including India, Japan, Turkey, Sweden and the U.K.Guidance for nearly $1bn in free cash flow improvement begins the path toward positive FCF and reinforces confidence in the earnings outloo

Yahoo Business
Jan 22, 2020

Does Market Volatility Impact Clean Energy Fuels Corp.'s (NASDAQ:CLNE) Share Price?
If you own shares in Clean Energy Fuels Corp. (NASDAQ:CLNE) then it's worth thinking about how it contributes to the...

Yahoo Business
Jan 22, 2020

Why economists worry that reversing climate change is hopeless: Morning Brief
Top news and what to watch in the markets on Wednesday, January 22, 2020.

Yahoo Business
Jan 22, 2020

What Kind Of Shareholder Owns Most Nokia Corporation (HEL:NOKIA) Stock?
Dividend paying stocks like Nokia Corporation (HEL:NOKIA) tend to be popular with investors, and for good reason...

Yahoo Business
Jan 22, 2020

Should You Buy Nokia Corporation (HEL:NOKIA) For Its Dividend?
Dividend paying stocks like Nokia Corporation (HEL:NOKIA) tend to be popular with investors, and for good reason...

Yahoo Business
Jan 22, 2020

Should Air Industries Group (NYSEMKT:AIRI) Be Disappointed With Their 90% Profit?
Shareholders of Air Industries Group (NYSEMKT:AIRI) might have been startled to see the share price drop -32% in just...

Yahoo Business
Jan 22, 2020

Fastenal Company Just Released Its Yearly Results And Analysts Are Updating Their Estimates
Fastenal Company (NASDAQ:FAST) shares fell 2.7% to US$35.83 in the week since its latest annual results. Results were...

Yahoo Business
Jan 22, 2020

Exxon Mobil Corporation's (NYSE:XOM) Investment Returns Are Lagging Its Industry
Today we are going to look at Exxon Mobil Corporation (NYSE:XOM) to see whether it might be an attractive investment...

Yahoo Business
Jan 22, 2020

Does Alamos Gold Inc.'s (TSE:AGI) CEO Salary Reflect Performance?
John McCluskey became the CEO of Alamos Gold Inc. (TSE:AGI) in 2015. This analysis aims first to contrast CEO...

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