Share to Twitter Share to Linkedin Topline The stock market selloff resumed on Wednesday amid reinvigorated fears about surging inflation weighing on economic growth, as several major retailers have now reported that quarterly profits took a hit due to rising cost pressures. Key Facts The selloff on Wall Street intensified: The Dow Jones Industrial Average fell 3.6%, over 1,100 points, while the S&P 500 lost 4% and the tech-heavy Nasdaq Composite 4.7%. Markets tanked after disappointing quarterly earnings from major retailers: Shares of Target plunged over 25% after the company warned of rising costs and supply chain issues impacting profits, with the stock on pace for its worst single-day drop in roughly 25 years. The news followed a gloomy outlook from Walmart, with the nation’s largest retailer badly missing earnings expectations due to rising costs, causing shares to fall 11% on Tuesday in their largest one-day drop since 1987. … [Read more...] about Dow Falls 1,100 Points, Stock Market Selloff Continues As Major Retailers Warn Of Rising Cost Pressures
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Russia–Ukraine Tensions Soar as Shelling, War Talk Increase; Investors Flee Stocks
U.S. equity markets are falling as tensions ratchet higher between Russia and Ukraine, with U.S. officials saying they expect a Russian attack on its neighbor shortly. Major indexes are heading for weekly declines and the Nasdaq is adding to its nearly 14% drop so far this year. Key Takeaways U.S. equity markets are falling as investors watch developments in the ongoing tensions between Russia and Ukraine. Major indexes are heading for weekly declines and the Nasdaq is adding to its nearly 14% drop so far this year. Roku shares are plunging while FAAMG stocks, Tesla, and Intel all slide. Shares of all the FAAMG tech companies are lower. Tesla Inc. ( TSLA ) shares are declining 3%. Shares of semiconductor companies are dropping after Intel Corp. ( INTC ) warned of lower profit margins this year. Roku Inc. ( ROKU ) shares are plunging on its earnings report (more below). Shares of big industrial firms including Boeing Co. ( BA ), Honeywell International … [Read more...] about Russia–Ukraine Tensions Soar as Shelling, War Talk Increase; Investors Flee Stocks
The Top 10 Stocks to Buy in 2022
There are literally thousands of publicly traded companies you can invest in, not to mention the many ETFs and mutual funds you can buy, so it's not surprising many investors don't know where to begin. While I don't have a crystal ball that tells me what stocks will deliver the best returns, I've tried to do the next best thing here. In this article, I'll discuss 10 stocks that I think could be great buys in 2022 for long-term investors looking to put money to work. Before we get to the stocks you're here for, let's acknowledge three caveats: Choosing the best stocks to buy today heavily depends on your personal financial situation. To get a feel for where you stand, read our guide on how to invest in stocks . It walks you through topics such as establishing an emergency fund, allocating assets, and when it makes sense to buy stocks. I like these stocks for long-term investments. I have absolutely no idea what they'll do over the next few weeks or months. While I ensured … [Read more...] about The Top 10 Stocks to Buy in 2022
Pac-12 stock report: ASU’s transfer help, Grand Canyon talent and a lack of QB clarity
Commentary on Pac-12 developments on and off the field … Rising: ASU’s outlook Were offseason rosters moves tallied on a scoreboard, the Sun Devils were losing 70-7 in the fourth quarter. But they mustered a rally last week when the transfer portal produced a quarterback who just might alter the 2022 trajectory. Emory Jones won’t be mistaken for a future first-round pick — his performance last season at Florida was decidedly uneven. But Jones instantly improves the overall state of ASU’s quarterback depth and should be considered the frontrunner for the starting job over inexperienced returnees Daylin McLemore and Trenton Bourguet and transfer Paul Tyson, who threw a handful of passes for Alabama. Jones owns more than 400 career attempts and faced some of the best defenses in the country during his Gator career. ASU lost its top playmakers and key offensive linemen. If forced to play a rookie quarterback, the situation would have been deeply dire. With Jones running … [Read more...] about Pac-12 stock report: ASU’s transfer help, Grand Canyon talent and a lack of QB clarity
HSBC’s mass of Hong Kong retail investors warms to breakup
- A + A HONG KONG (May 18): Smarting from HSBC Holdings Plc’s move to scrap its dividend during the height of the pandemic, the bank’s largely silent mass of retail shareholders in Hong Kong is warming up to the idea of a breakup. Splitting up Europe’s biggest bank to separate out its Asian operations is being pushed by its largest investor, Ping An Insurance Group Co, based just across the border in Shenzhen. The call is winning support in Hong Kong’s retail base, which owns about a third of the bank, with some seeing it as a surefire way of preventing the steady stream of payouts from being cut off again. Their loyalty has been tested as numerous pivots in strategy fail to impress the market, leaving dividends at half of what they were in 2018 and the stock down more than 40%. The former British colony is the beating heart of the bank’s global operations, accounting for about 30% of the group’s 2021 adjusted profits. Yet decisions such as the halting of dividends … [Read more...] about HSBC’s mass of Hong Kong retail investors warms to breakup
NVIDIA (NVDA) Fined $5.5M for Failing to Disclose Crypto Mining Impact
Graphics chipmaker NVIDIA Corporation ( NVDA ) has agreed to pay $5.5 million to settle charges leveled by the Securities and Exchange Commission (SEC) that it failed to adequately inform investors about the demand cryptocurrency miners had placed on its graphics cards. Crypto mining involves obtaining rewards earned in cryptocurrency for verifying transactions on distributed blockchain ledgers. Key Takeaways NVIDIA has agreed to pay $5.5 million for failing to adequately inform investors about the demand cryptocurrency miners had placed on its graphics cards. The SEC claimed NVIDIA failed to report that crypto mining had generated significant revenue growth in two consecutive quarters during its 2018 fiscal year. In March 2021, NVIDIA released a new series of semiconductors called Cryptocurrency Mining Processor (CMP), specifically designed for mining Ether. Demand for the company's CMP hardware has slumped in line with sharp falls in cryptocurrency prices. … [Read more...] about NVIDIA (NVDA) Fined $5.5M for Failing to Disclose Crypto Mining Impact
Moody’s Cuts Russia’s Credit, Wheat Prices Soar, Powell Allays Investors’ Fears
Moody's cut Russia's credit six notches as it expects "sustained disruption to the economy" as a result of global sanctions against the country after it invaded Ukraine. Russia's stock market remained closed. U.S. stocks are higher after yesterday's surge that came in the wake of Federal Reserve Chair Jerome Powell ’s congressional testimony signaling a Fed rate increase would be lower than what investors feared. Key Takeaways Top credit agency Moody's decreased Russia's credit by six notches. U.S. stocks are rising, following yesterday's surge that came after Fed statements that allayed fears of a big interest rate hike. Best Buy Co. Inc. and Kroger Co. shares rose after reporting better-than-expected earnings. Powell is set to testify before Senate lawmakers this morning after telling House lawmakers yesterday he would propose just a quarter-percentage-point rate hike at the central bank’s March meeting. All major U.S. stock indexes posted solid gains … [Read more...] about Moody’s Cuts Russia’s Credit, Wheat Prices Soar, Powell Allays Investors’ Fears
Roughly 150 Netflix Employees Laid Off After Subscriber Losses
Share to Twitter Share to Linkedin Topline About 150 Netflix employees were laid off Tuesday, mostly in the United States, roughly a month after the streaming service reported a decrease in subscriber numbers for the first time in 10 years. Key Facts A spokesperson for Netflix told Forbes slow revenue growth and business needs, and not individual performance, was the reason behind the layoffs. The spokesperson said “none of us want to say goodbye to such great colleagues” and that the company intends “to support them through this very difficult transition." Big Number Over 11,000. That’s how many employees Netflix has. Key Background Netflix reported a loss of 200,000 subscribers in the first quarter, a stark turnaround from expectations to add 2.7 million. The company said it expected to lose another 2 million subscribers this quarter. After the news broke, Netflix’s stock dropped 35% to roughly $220, and was trading at roughly … [Read more...] about Roughly 150 Netflix Employees Laid Off After Subscriber Losses
Survey: America’s Uninsured Rate Is Down To 10% – And Falling
Share to Twitter Share to Linkedin New data has raised a tantalizing possibility: That for the first time, America's uninsured rate will fall below 10%. (If it hasn't already; the most recently reported data was collected three months ago.) The findings come from the Urban Institute's Health Reform Monitoring Survey , a quarterly survey of non-elderly Americans. And as of March 2015, the Urban Institute's survey found that 10.0% of nonelderly adults were uninsured, down from 17.8% in September 2013, before the Affordable Care Act's insurance exchanges first launched. No major survey has ever found that the uninsured rate in America has hit single digits. However, the uninsured rate is already down to 7.5% in states that have expanded Medicaid under Obamacare, Urban researchers concluded. Of course, Urban's data is just one snapshot of the uninsured in America. Different surveys use different questions and methodologies. Some are thought … [Read more...] about Survey: America’s Uninsured Rate Is Down To 10% – And Falling