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Office of Government Ethics declines to certify Wilbur Ross financial disclosure report

“The Office of Government Ethics has declined to certify the financial disclosure report of Commerce Secretary Wilbur Ross, according to a new filing” writes D C for marketwatch.com. The 2018 annual filing wasn’t certified because, it says, Ross said he did not hold BankUnited stock BKU, +0.83% while the transaction report from Oct. 31, 2018, demonstrated that he did. Source: marketwatch.com

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OneSpan stock jumps more than 20% as results top Street estimates

“OneSpan shares, which had been briefly halted before results were released, rallied 29% after hours, following a 3.8% rise to close the regular session at $16.77” writes Wallace Witkowski for marketwatch.com. For the year, OneSpan expects revenue of $229 million to $237 million, while analysts had forecast on revenue of $231.4 million.Analysts surveyed by FactSet had forecast a loss of 2 cents a share on revenue of $59.9 million.OSPN, +3.84% shares surged more than 20% in the extended session Tuesday after the cybersecurity company reported a surprise profit and topped…

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Investors are reverting back to the same bad habits that doomed the stock market last year. Here’s what Morgan Stanley says they should be doing instead.

“In terms of what investors can do, Wilson says he’s keeping his highest ratings on more defensive stocks including utilities and household products makers” writes Marley Jay for businessinsider.com. “Cyclicals and expensive growth stocks are high beta and both have performed well year-to-date in what has been a broad beta rally,” he wrote.”The market is still not convinced we are out of the woods on growth concerns,” Michael Wilson said in a recent client note.But Morgan Stanley’s chief US equity strategist says investors shouldn’t get too comfortable. Source: businessinsider.com

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CREDIT SUISSE: Whether the market surges or tanks, tech stocks are perfectly positioned to profit. Here are the best companies to own.

“Count the equity strategists at Credit Suisse among the cohort of Wall Streeters who have lost faith in tech stocks” writes Akin Oyedele for businessinsider.com. Should this broader rally in stocks continue, Garthwaite sees the tech sector as uniquely positioned to reap its gains.Garthwaite cited four main reasons why tech stocks are attractive as a defensive play for a market slump. The US software companies that Credit Suisse’s equity analysts rate “overweight” include Adobe, Autodesk, Microsoft, Oracle, and Salesforce.com.But even if the rally falters, he says tech is attractive as…

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Stocks trade mixed as U.S. and China kick off latest round of trade talks; Walmart jumps

“U.S. stocks struggled for direction Tuesday as U.S. investors return from a three-day weekend as another round of U.S.-China trade talks begins in Washington” writes Deputy Markets Editor for marketwatch.com. Gains last week were fueled in part by upbeat expectations surrounding U.S.-China trade negotiations.In Europe, stocks were trading lower Tuesday, with the Stoxx Europe SXXP, -0.27% down 0.4%.AAP, +1.37% stock fell 0.6%, after the firm reported fourth-quarter profits that topped analyst forecasts but saw same-store sales growth fall short. Source: marketwatch.com

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‘Panic buying’ likely to drive stock market higher in the near term

“The surge in stocks comes as investors increasingly bet China and the U.S. will strike a trade deal in the near future” writes unknown author for cnbc.com. “Systematic trend followers that had temporarily suspended buying after the weak US retail sales print have also been compelled to follow the market by adding fresh longs.”. “It seems a ‘panic buying’ mood, with purchases by investors who had been lagging the broader market, has strengthened,” Masanari Takada, a cross-asset strategist at Nomura, said in a note Monday.Stocks could get a short-term boost…

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There’s a pizza price war going on, and Papa John’s is likely to be the big loser, Stifel says

“Papa John’s investors will be disappointed in the near term as sales struggle, according to one Wall Street analyst” writes Luke Sharrett for cnbc.com. Papa John’s said Starboard CEO Jeffrey Smith will become its chairman following the fund’s investment in the form of a convertible stock purchase of 11 to 15 percent.”In order for Papa John’s to drive transactions we believe it will need to commit to an everyday low price menu that will probably hurt franchisees’ profits until consumer perception of its value changes,” O’Cull wrote. Source: cnbc.com

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Trump says ‘stock market would be down 10,000 points by now’ had ‘the opposition’ won the election

“Perhaps more than any other president, Trump has hitched his success to that of the stock market” writes Mark Decambre for marketwatch.com. MarketWatch’s Trump Scoreboard puts both the market and the economy in perspective.He has signed into law a late-2017 corporate tax cut that delivered a fillip to U.S. stocks.President Donald Trump on Tuesday tweeted that the stock market would effectively have crashed had he lost the 2016 race for the White House, reiterating a number of similar statements he has made that have assigned credit to his administration for…

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