News 

Richemont shares slip on earnings disappointment

“Richemont, known for its Cartier and Piaget brands, said it posted growth in all its business areas, driven by double-digit sales growth in the Asia-Pacific region, which accounted for 37% of total sales” writes Cristina Roca for marketwatch.com. At 0822 GMT, Richemont shares were 6.2% lower at CHF69.26 ($69.03).Revenue for the first six months rose to EUR6.81 billion, up 8% excluding Richemont’s newly consolidated online-distributors division but below an estimate of EUR6.89 billion revenue, according to a analysts’ consensus provided by FactSet. Source: marketwatch.com Share This:

Read More
News Stocks 

Fundstrat chart analyst: Washed out tech stocks will lead the market in a year-end recovery

“Investors should concentrate and then capitalize on the year-end bounce in technology stocks, Fundstrat technical strategist Robert Sluymer told CNBC. “You’ve seen a wash out on the technology trade” writes Tyler Clifford for cnbc.com. Apple and Microsoft are the two top-weighted stocks in the S&P 500 and in the Nasdaq 100.Sluymer points to stocks like Microsoft, Apple, and Intel, which he expects to lead the market for the rest of 2018. Source: cnbc.com Share This:

Read More
News Stocks 

The ‘smart money’ isn’t buying the stock-market bounce, and that could mean a test of the lows: analyst

“Reynolds argued that the continued bearishness of investors despite the bounce in stock prices indicates that debt-fueled buybacks will be even more important in bringing stocks back up to trend than they have been following other corrections during the current bull market” writes Deputy Markets Editor for marketwatch.com. In fact, the index has been bearish all year. Source: marketwatch.com Share This:

Read More
News Stocks 

What’s next for Tesla? Joining the S&P, says one analyst

“Um kept his rating on Tesla stock at the equivalent of buy with a $430 price target, among the highest on Wall Street” writes Claudia Assis for marketwatch.com. Even that missing part — consistent profitability — will arrive for Tesla TSLA, +1.51%  after the second quarter of 2019, Macquarie analyst Maynard Um wrote in a note.Analysts on average have a $321 price target on Tesla, which would represent downside of around 9% over Thursday’s share prices.Still, joining the S&P 500 SPX, -0.06%  would unleash a torrent of new money from…

Read More
News 

Dollar losses build in wake of midterm election results

“The U.S. dollar came under pressure Wednesday, in the wake of midterm election results that saw Democrats take hold of the House and Republicans keep control of the Senate” writes Markets Reporter for marketwatch.com. The dollar slid to $1.1481 against the euro EURUSD, +0.5251% from $1.1427 late Tuesday in New York.The ICE Dollar Index DXY, -0.43% fell 0.4% to 95.934, with the euro and pound notably strong.But even if the dollar looks weak presently, Charalambos Pissouros, senior market analyst at JFD Brokers, said those moves weren’t likely to continue.The pound…

Read More
News 

The Victoria’s Secret fashion show illustrates ‘how out of touch the brand still is,’ Jefferies says

“We expect ratings to continue their decline this year and the VS brand to lose mindshare.”” writes Ethel Jiang for businessinsider.com. By Konik’s track of data, Victoria’s Secret, together with its Pink brand, is selling cheaper and cheaper bras and panties yet the consumer still isn’t responding. Source: businessinsider.com Share This:

Read More
News Stocks 

This analyst sees GE shares trading as low as $5

“GE shares rose 1.2 percent in premarket trading” writes unknown author for cnbc.com. Gordon Haskett has an underperform rating and a $10 price target on GE shares.GE stock closed at $9.29 a share on Friday, down nearly 47 percent this year.General Electric shares are hitting lows not seen since the financial crisis, and one analyst on Monday estimated the embattled conglomerate’s stock could sink as low as $5.GE stock got a buy rating from UBS following the its fall below $10 for the first time since the financial crisis. Source: cnbc.com…

Read More
News Stocks 

Netflix gets double upgrade as analyst urges to buy on the 27% dip

“One Wall Street brokerage just did an about-face on Netflix, telling clients that the stock’s 27 percent decline from its July high represents an attractive buying opportunity” writes unknown author for cnbc.com. We are “increasing our price target to $406 from $349, providing 31 percent upside, with the stock’s 27 percent decline from its July 12-month high being the primary upgrade catalyst.”. “We have always viewed Netflix as the continued top streaming category winner,” analyst Matthew Harrigan wrote Monday. WATCH: Netflix crushed earnings — Watch five experts break down what…

Read More
News 

Speaking of Business: Previous Lion Air flight was ‘like in a roller coaster’

“Apple analyst Gene Munster, reacting to its plan to stop disclosing unit sales for iPhones, iPads and Macs” writes Seattle Times Staff for seattletimes.com. This week’s best quotes in business span a fatal airliner crash, reaction to earnings news from top tech companies, and Google’s #MeToo walkout.Wedbush analyst Michael Pachter, explaining the sharp decline in Amazon’s stock price after it reported lower-than-expected revenue.U.S. Attorney General Jeff Sessions, announcing that a Chinese state-owned company and others were charged with conspiring to steal trade secrets from chipmaker Micron Technology. Source: seattletimes.com Share This:

Read More
Markets News 

Apple Warns on Holiday Sales, Sending Value Below $1 Trillion

“Apple sold 46.9 million iPhones in the fiscal fourth quarter, missing analyst expectations of 47.5 million iPhones, according to FactSet” writes Min Read for reuters.com. Apple forecast a tax rate of 16.5 percent for the December quarter, above analyst expectations of 15.9 percent, according to IBES data from Refinitiv.Apple said revenue from services, which includes iCloud, the App Store and Apple Music, reached $10 billion, in line with analyst estimates. Source: reuters.com Share This:

Read More