The shares of Altaba Inc (NASDAQ:AABA) -- formerly Yahoo -- touched a record peak of $73.25 about a month ago. Since then, the tech concern has pulled back to its 40-day moving average -- a technical signal that's preceded gains for AABA stock in the past. Below, we take a closer look at Altaba shares to see if they could be flashing "buy," and examine how options traders are speculating on the eq...Read More
Shares of video game maker Electronic Arts Inc. (NASDAQ:EA) have struggled following last month's controversial release of "Star Wars: Battlefront II". Today, analysts are chiming in, with Cowen and Company issuing a price-target cut to $104 from $106. The brokerage firm also lowered its profit forecast for the 2018 fiscal year, citing enough negative impact "to more than offset any strength elsew...Read More
Tech stock BlackBerry Ltd (NYSE:BB) is in focus this morning, as analysts respond bullishly to Wednesday morning's third-quarter earnings beat. Since last night's close, BB has racked up five price-target hikes from brokerage firms. The most notable price-target raise came from TD Securities, which gave the onetime handheld-device giant a lift to $14 from $12. However, after yesterday's rally up...Read More
Chipotle Mexican Grill, Inc. (NYSE:CMG) shares sank yesterday amid news one of its restaurants in Los Angeles is being investigated by public health officials following customer complaints of illness. Despite this, RBC this morning weighed in by raising its price target on CMG stock to $330 from $320 -- calling for a 10.5% increase from last night's close of $298.67, and a move back up to familiar...Read More
Shares of Finish Line Inc (NASDAQ:FINL) are up 8.6% to trade at $12.70, after the athletic apparel retailer reported a slimmer-than-expected adjusted third-quarter loss of 26 cents per share on $378.50 million in revenue -- also a beat. FINL also said same-store sales for the three-month period unexpectedly rose 0.8%.Today's pop has FINL shares positioned above their 180-day moving average. This t...Read More
Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, as stocks try to again build momentum following yesterday's tax bill passage. The attention could stay on Capitol Hill, however, as lawmakers are reportedly struggling to approve a spending bill to avert a government shutdown this weekend. Investors are also digesting economic data. Specifically, weekly jobless...Read More
The Dow Jones Industrial Average (DJIA) finished lower for the second straight session -- erasing a nearly triple-digit lead in early action. Both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) joined the Dow in the red, as tech stocks such as Facebook (FB) extended their retreat from yesterday. While anticipation surrounding the Republican tax plan helped drive markets higher, the actu...Read More
Steel stocks have been rallying, boosted earlier this month after the U.S. announced plans to begin imposing tariffs on Chinese steel being exported out of Vietnam. While the VanEck Vectors Steel ETF (SLX) is up 14% from its Nov. 17 bottom, all nine names we track under our "steel iron" umbrella are trading north of their 80-day moving average -- the only other sector besides "gaming" to sport thi...Read More
Call volume hit a 52-week high yesterday on fast food issue Wendy's Company (NASDAQ:WEN), due to heavy buying at the January 2018 17-strike call. Looking back over the past 10 days, this option is home to the largest increase in open interest, with more than 12,000 contracts added. The next closest strike, the January 16 call, saw only 578 options added to open interest. Those buying the WEN Janua...Read More
There's been speculation that the recent bitcoin craze has dulled traders' appetite for commodities. After all, some people are taking out mortgages to buy the volatile cryptocurrency -- which began trading futures last week, and has generated some huge gains in a short time, especially compared to the typically safe, slow crawl of gold and silver. Whatever the motive, the recent cost of "crash pr...Read More
Stocks are searching for direction as traders await the latest on the tax bill, which appears to be headed to President Donald Trump's desk for a signature. Among the names making the biggest moves are mobile payments stock Net Element International Inc (NASDAQ:NETE), China-based financial services provider China Internet Nationwide Financial Services Inc (NASDAQ:CIFS), and tobacco giant Philip M...Read More
Yesterday, electric car company Tesla Inc (NASDAQ:TSLA) received its largest pre-order to date of electric semi trucks from United Parcel Service (UPS). UPS joins PepsiCo (PEP), Wal-Mart Stores (WMT), and J.B. Hunt(JBHT) on a growing list of companies that have placed orders for Tesla's truck since the mid-November unveiling. Today, we will take a closer look at TSLA stock and see how sentiment...Read More
U.S. stocks are trading mixed at midday, with the Dow Jones Industrial Average (DJIA) taking the lead. Another record closing high today would mark the 71st for the Dow in 2017, setting a new calendar-year record. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) were sticking close to breakeven, at last check, as traders continue to eye the Republican tax bill. The House is expected to re-vo...Read More
It looks all but certain that Congress is set to pass sweeping tax reform this week. According to J.P. Morgan Securities, the new tax rules will greatly benefit companies such as Verizon Communications Inc. (NYSE:VZ), AT&T Inc. (NYSE:T), and Comcast Corporation (NASDAQ:CMCSA). Of course, this comes right after the companies scored what was considered a win with the Federal Communications Commissio...Read More
After a volatile 2017, Credit Suisse said it is cautiously optimistic about U.S. biotechs, believing tax reform could be a positive catalyst for big-cap drug companies. Nevertheless, the brokerage firm issued opposing notes for biotech stocks Biogen Inc (NASDAQ:BIIB) and Gilead Sciences, Inc. (NASDAQ:GILD). Below, we will take a closer look at BIIB and GILD stocks.Credit Suisse Sees BIIB Returnin...Read More
United Airlines parent United Continental Holdings Inc (NYSE:UAL) is moving higher this morning, after Buckingham Research upgraded the shares to "buy" from "neutral." UAL is up 1.9% at $65.63 in early trading, extending a rebound from its Nov. 15 annual low of $56.51. Currently, the airline stock carries 11 "hold" or "strong sell" ratings from analysts, compared to just five "strong buys." Mean...Read More
The U.S. Food and Drug Administration (FDA) yesterday expanded the use of Exelixis, Inc.'s (NASDAQ:EXEL) drug, Cabometyx, to treat those with advanced kidney cancer. The decision comes well ahead of the FDA's mid-February action date, and earned EXEL stock a price-target hike to $38 from $35 at SunTrust Robinson. RBC, meanwhile, projected a $1 billion market opportunity for the biotech.In reaction...Read More
U.S. stock futures are broadly trading above fair value this morning, as tax reform remains the main focus on Wall Street. The Dow Jones Industrial Average (DJIA) is signaling a triple-digit jump, and tech stocks look ready to rebound, illustrated by a sharp rise in Nasdaq-100 Index (NDX) futures. The House of Representatives and the Senate bothwere able to pass the GOP's pro-business tax bill, bu...Read More
After this full week of trading, we'll be followed by two shortened weeks for Christmas and New Year's. Below, I show how stocks have performed during these holiday weeks in the past. First, though, I point out how bullish the second half of this month usually is for the S&P 500 Index (SPX).History Says to Buy Stocks NowBelow is a table comparing the first half of December to the second half of De...Read More
The comments above & below is an edited and abridged synopsis of an article by Tyler DurdenOne of the traditional push-backs against attempts to predict black swan events is that they are unpredictable. However, for the second year in a row, Nomura's Bilal Hafeez has found a loophole: the grey swan.Hafeez says that, while he would like to be able to predict black swans, by definition that is impos...Read More