Stocks near 52 week low worth buying

Representative Image The rupee on June 24 slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close. During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency. On Thursday, the rupee had settled at 78.32 against the US dollar. The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.25 per cent to 104.17. Brent crude futures, the global oil benchmark, advanced 1.13 per cent to USD 111.29 per barrel. On the domestic equity market front, the BSE Sensex ended 462.26 points or 0.88 per cent higher at 52,727.98, while the broader NSE Nifty gained 142.60 points or 0.92 per cent to 15,699.25. Foreign institutional investors remained net sellers in the capital market on Thursday as they … [Read more...] about Rupee settles at all-time low of 78.33 against US dollar

Smoke rises from a burning pile of seized illegal drugs during a destruction ceremony to mark the United Nations' "International Day against Drug Abuse and Illicit Trafficking" in Yangon on Sunday. (AFP photo) Myanmar authorities said they torched more than half a billion dollars worth of narcotics on Sunday as part of eradication efforts for World Drug Day, as the UN warns that production of methamphetamine in the region is hitting record levels. Almost two tonnes of heroin and more than 630 million "yaba" meth pills went up in smoke at ceremonies in Myanmar's commercial hub of Yangon, the central city of Mandalay and Shan state in the north, authorities said. But some analysts cautioned that the $642 million bonfires are part of a long-running game of smoke and mirrors played by a junta government not serious about tackling the problem. The televised burnings represent a "decade-long delusion" about Myanmar's multibillion-dollar drug industry, independent analyst David … [Read more...] about Myanmar says seized drugs worth half a billion dollars torched

When Monica Walton walked into her Broomfield office at Level 3 Communications on Wednesday morning, she already felt nostalgic. “I came in and the sign has been changed on our campus,” said Walton, who has worked for Level 3 for 12 years and on Wednesday became CenturyLink’s general manager for Colorado. “This is happening globally, though not immediately everywhere. There are still a number of Level 3 buildings in Denver with Level 3 signage. That’s the first step of combining the companies.” Wednesday marked “ Day One ” of Monroe, La.-based CenturyLink’s purchase of debt-laden Level 3, one of Colorado’s largest companies and owner of one of the world’s largest internet networks. The deal, valued at $30 billion, is more like a merger, giving CenturyLink shareholders 51 percent ownership and Level 3 stockholders 49 percent. Level 3 CEO Jeff Storey becomes president of CenturyLink and will take over as the leader when CenturyLink CEO Glen F. Post III retires Jan. 1, 2019. But … [Read more...] about Colorado’s Level 3 Communications is no more, as CenturyLink closes $30B purchase

Fallout from a strategic decision between Dish Network and EchoStar Corp. to trade a few assets is hitting home for many EchoStar employees. Make that former EchoStar employees. The two Douglas County-based companies are swapping certain business units that would give Dish most of the video side of EchoStar, including the rest of online video service Sling TV plus the set-top box business that includes the ground-breaking Slingbox. The trade, announced Jan. 31, will also result in “fewer than 100” EchoStar employees losing their jobs, plus a reported end to manufacturing of Slingbox. Another 1,800 EchoStar employees will move to Dish following the trade, which was completed Tuesday. “EchoStar implemented a small reduction in force in late January, in response to recent changes in the marketplace,” said Michael T. Dugan, CEO and president of EchoStar Corporation, in a statement e-mailed to The Denver Post on Tuesday. “This reduction in force has impacted fewer than 100 of … [Read more...] about EchoStar cuts 100 employees, another 1,800 moving to Dish Network

- A + A SINGAPORE (June 26): The first hints that consumer belt-tightening is passing through to corporate earnings are coming in, posing a bigger risk to US equities than stock-selling by American households, according to Goldman Sachs Group Inc. High inflation and declining asset prices had started to strain household finances, Goldman strategists led by David Kostin wrote on Friday. They cited the 0.3% drop in retail sales in May and the record-low Michigan consumer sentiment reading for June. Retailers such as Target Corp and Walmart Inc appeared to have overestimated consumer demand in some general merchandise categories and were now discounting items to clear excess inventory, the strategists said. "Declining consumer spending does represent a threat to earnings for consumer discretionary stocks and the autos industry group in particular," they said. "Used car prices have declined 6% since January, a sign that demand for vehicles overall may be … [Read more...] about Goldman says signs are here of belt-tightening impact on profits

Share to Twitter Share to Linkedin The Supreme Court on Friday overturned the nationwide right to abortion in its landmark Dobbs v. Jackson Women's Health Organization ruling, causing major uncertainty about the future of abortion access in the United States. Here are answers to some of the biggest questions: What did the Supreme Court’s ruling say? In a decision by Justice Samuel Alito, the court upheld a Mississippi law banning abortion after 15 weeks of pregnancy. A majority of justices also voted to strike down Roe v. Wade (1973) and Planned Parenthood v. Casey (1992), effectively ruling abortion is no longer a nationwide right and giving states the power to ban the procedure. Alito called Roe v. Wade “an abuse of judicial authority” that relied on “egregiously wrong” reasoning, and argued the right to abortion is not expressly mentioned in the Constitution and isn’t “deeply rooted in this Nation's history and tradition.” Four other conservative … [Read more...] about Roe V. Wade Overturned: The Ultimate Explainer On What It Means

It’s fitting that Dish Network Corp. Chairman Charlie Ergen is set to speak to Wall Street just as the wireless industry’s merger moratorium is lifted. His company’s massive stockpile of airwaves figures heavily in the speculation over who will buy whom. Douglas County-based Dish reports earnings Monday, just days after the end of a government-imposed quiet period related to a federal sale of wireless spectrum. In that auction and other deals over the past decade, Ergen’s satellite-TV company compiled $34.7 billion worth of nation-blanketing airwaves. Ergen kept buying spectrum even after an effort to merge with Sprint Corp. fizzled a few years ago, and investors have been trying to figure out his endgame ever since. Now, with a merger-friendly Republican administration in place, Ergen has a chance to finally do something with all those assets — if the notoriously prickly billionaire can find a willing partner, perhaps in T-Mobile US, Verizon Communications or Comcast. The … [Read more...] about In merger-friendly GOP administration, Dish’s Ergen gets chance to play kingmaker

Share to Twitter Share to Linkedin This post was republished on 6/25. Well, it finally happened, and it took another juggernaut to knock Stranger Things season 4 off the #1 spot on Netflix’s top 10 list after nearly a month planted there. That would be season 3 of The Umbrella Academy, Netflix’s hyper-successful non-Marvel or DC superhero series about an odd band of brothers and sister dealing with time travel paradoxes upon their return. Stranger Things season 4 almost lasted in the #1 spot until July 1, which is when part 2 of the season airs with the final two episodes, which will no doubt propel it to #1 yet again for a period of time. Right now, the show is slowly inching toward Squid Game’s viewership record, but it will need those final two episodes to perform even better than the previous seven if it hopes to catch it. Regardless, Stranger Things season 4 has set all manner of English-language records for the service, and even if … [Read more...] about ‘Stranger Things’ Dethroned In Netflix’s Top 10 List By A New Show